TCR_Public/160517.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 17, 2016, Vol. 20, No. 138

                            Headlines

22ND CENTURY: Incurs $3.25 Million Net Loss in First Quarter
4522 KATELLA AVENUE: Wants Plan Filing Period Extended to June 17
ADAMIS PHARMACEUTICALS: Has License Agreement with Allergan Unit
ADELPHIA COMMUNICATIONS: Extends Exchange Offers Until May 19
ADVANTAGE AVIATION: Voluntary Chapter 11 Case Summary

AES CORP: Fitch Assigns 'BB' Rating on $500MM Sr. Unsecured Notes
AF-SOUTHEAST LLC: Baird Mandalas Representing AF Noteholders Group
AIX ENERGY: Ch.11 Trustee Hires Toney Johnson as Broker
ALEXZA PHARMACEUTICALS: Extends Ferrer Note Maturity to Sept. 2016
ALEXZA PHARMACEUTICALS: To be Acquired by Ferrer

ANACOR PHARMACEUTICALS: Incurs $16.1 Million Net Loss in Q1
ANDERSON UNIVERSITY: Fitch Affirms 'BB+' Rating on $35.6MM Bonds
ANTERO ENERGY: Broyles Seeks Approval to Withdraw as Counsel
ANTERO ENERGY: Jeffrey Mims Appointed Chapter 11 Trustee
ANTHONY LAWRENCE: Exclusive Plan Filing Period Extended to Nov. 14

AOG ENTERTAINMENT: Court Enforces Sec. 362 Protections
AOG ENTERTAINMENT: Schedules Deadline Extended to June 13
ASPECT SOFTWARE: Court Approves Backstop Agreement
ATLAS DISPOSAL: Case Summary & 20 Largest Unsecured Creditors
AURORA DIAGNOSTICS: Holds Conference Call to Review Results

AURORA DIAGNOSTICS: Incurs $7.59 Million Net Loss in First Quarter
BEEKMAN LIQUORS: Case Summary & 20 Largest Unsecured Creditors
BERRY PLASTICS: Posts $59 Million Net Income for April 2 Quarter
BHAVDARSHAN INC: Taps David T. Cain as Bankruptcy Counsel
BILL BARRETT: Wasatch Advisors Reports 2.98% Stake

BIND THERAPEUTICS: Hires Cowen as Investment Banker
BIND THERAPEUTICS: Hires Latham & Watkins as Bankr. Co-Counsel
BIND THERAPEUTICS: Hires Prime Clerk as Administrative Advisor
BIND THERAPEUTICS: Hires Richards Layton as Co-Counsel
BREITBURN ENERGY: Case Summary & 20 Largest Unsecured Creditors

BREITBURN ENERGY: Court Orders Joint Administration of Cases
BREITBURN ENERGY: Files for Ch. 11 to Facilitate Restructuring
BREITBURN ENERGY: Files Voluntary Chapter 11 Bankruptcy Petition
BROADVIEW NETWORKS: Incurs $160,000 Net Loss in First Quarter
CANCER GENETICS: Incurs $5.25 Million Net Loss in First Quarter

CAPE COD: Case Summary & 20 Largest Unsecured Creditors
CHASSIX HOLDINGS: Debtors Want Chapter 11 Cases Closed
CHC GROUP: U.S. Trustee Forms 5-Member Committee
COMBIMATRIX CORP: Incurs $3.13 Million Net Loss in First Quarter
COMVEST CAPITAL: Wins Bid to Dismiss Suit vs. Selkoe

COOK INLET: Effective Date Occurred on March 29
CORNERSTONE TOWER: Case Summary & 20 Largest Unsecured Creditors
CRESTWOOD EQUITY: S&P Assigns 'BB-' CCR, Outlook Negative
CSM BAHIA: Case Summary & 7 Unsecured Creditors
CTI BIOPHARMA: Posts $3.31 Million Net Income for First Quarter

CYTORI THERAPEUTICS: Incurs $5.33 Million Net Loss in First Quarter
CYTORI THERAPEUTICS: Stockholders Elect 7 Directors
DARDEN-GREEN CO: Case Summary & 15 Unsecured Creditors
DELL INC: S&P Affirms 'BB+' CCR, Outlook Stable
DELTA AIRLINES: Court Denies Flight Attendant's FMLA Suit

DENBURY RESOURCES: S&P Lowers Corporate Credit Rating to 'SD'
DIEBOLD INC: S&P Assigns 'BB-' CCR, Outlook Stable
DIPLOMATA S/A: Court Grants Petition for Recognition
DOGLEG RIGHT: Case Summary & 20 Largest Unsecured Creditors
DOMUM LOCIS: June 21 Hearing on Admin. Expense Fee Applications

EAST AFRICAN DRILLING: Proofs of Claim Due July 27, 2016
ENERGY XXI: Creditors Oppose Bid to Use Cash Collateral
ENERGY XXI: Objections to Cash Collateral Motion Filed
EXCO RESOURCES: Exploring Restructuring Options
F&H ACQUISITION: Time to Remove Actions Extended Through June 30

FERRO CORP: S&P Affirms 'BB-' CCR & Revises Outlook to Developing
FIRST DATA: Capital Research Holds 10.5% of Class A Shares
FIRST DATA: Incurs $56 Million Net Loss in First Quarter
FM KELLY: Case Summary & 20 Largest Unsecured Creditors
FORESIGHT ENERGY: Incurs $41.7 Million Net Loss in First Quarter

FOSSIL GROUP: S&P Lowers CCR to 'BB+' as Earnings Decline
GAP INC: Fitch Lowers IDR to 'BB+', Outlook Stable
GELTECH SOLUTIONS: Obtains $150,000 Loan from President
GERMAN PELLETS: Hires Opportune's Gaston as CRO
GERMAN PELLETS: Hires Searcy & Searcy as Local Co-counsel

GFL ENVIRONMENTAL: DBRS Confirms 'B' Issuer Rating
GREAT LAKES: Auction Cancelled, Objections to Sale Motion Filed
GREAT LAKES: Court Sets Schedule for Evidentiary Hearing
GREAT LAKES: MERS Objects to MERS Contract Assignment
GREAT LAKES: Seek Substantive Consolidation of Bankruptcy Estates

GROVE PLAZA: Case Summary & 20 Largest Unsecured Creditors
HAGGEN HOLDINGS: Court Approves Walgreen Asset Purchase Agreement
HAGGEN HOLDINGS: Privacy Ombudsman Recommends Transfer of Info
HECK INDUSTRIES: $300,000 Batch Plant Sale to Cajun Approved
HOLOGIC INC: S&P Affirms 'BB' CCR & Revises Outlook to Positive

HOMER CITY: S&P Lowers CCR to 'CCC-', Off CreditWatch Negative
HORSEHEAD HOLDING: Time to Remove Actions Extended Through Aug. 30
HYPNOTIC TAXI: DiConza Replaces W&W as Committee Counsel
ILLINOIS POWER: Incurs $7 Million Net Loss in First Quarter
IMAGEWARE SYSTEMS: Incurs $2.62 Million Net Loss in First Quarter

IMMUCOR INC: Extends Maturity of Credit Agreement with Citibank
INC RESEARCH: Moody's Hikes Corporate Family Rating to Ba2
INSURANCE PROFESSIONALS: Case Summary & 8 Unsecured Creditors
IOWA FERTILIZER: S&P Lowers Rating on $1.194BB Financing to 'B+'
IRONGATE ENERGY: S&P Lowers CCR to 'CCC-', Outlook Negative

JAZZ ACQUISITION: S&P Affirms 'B' CCR, Outlook Stable
JUMIO INC: Files Schedules of Assets and Liabilities
KDA GROUP: Case Summary & 20 Largest Unsecured Creditors
KEELEY AND GRABANSKI: Haslam Attorney Awarded $12K in Fees, Costs
KIRWAN OFFICES: Creditors Reject Lynch's Motion to Intervene

KRONOS WORLDWIDE: Fitch Lowers IDR to 'B+', Outlook Stable
LA CUADRA L.L.C.: Case Summary & Unsecured Creditor
LAKE MATHEWS: Case Summary & 17 Largest Unsecured Creditors
LAWRENCE SCHIFF: Ch 11 Trustee Hires EisnerAmper as Fin'l Advisor
LAWRENCE SCHIFF: Ch 11 Trustee Retains Klehr Harrison as Counsel

LEGAL CREDIT: Taps Estrella LLC as Bankruptcy Counsel
LEN-TRAN INC: Case Summary & 20 Largest Unsecured Creditors
LEVEL 3 COMMUNICATIONS: S&P Raises CCR to 'BB', Outlook Stable
LEVEL ACRES: Case Summary & 12 Unsecured Creditors
LIFEPOINT HEALTH: S&P Assigns 'BB-' Rating on $400MM Sr. Notes

LINN ENERGY: Material Terms of Restructuring Support Agreement
LIQUIMETAL TECHNOLOGIES: Incurs $9.17 Million Net Loss in Q1
LMR DOORS: Hires Nicolas A. Wong Law Offices as Bankruptcy Counsel
LPATH INC: Reports $1.94 Million Net Loss for First Quarter
MARCLAY EMS: Hires David E. Priest as Accountant

MARIA VISTA: Suit vs. Mi Nipomo, Costa Pacifica Dismissed
MAUDORE MINERALS: Makes Assignment of Property Under BIA
MIDSOUTH GOLF: May Sell Property Free of Maintenance Covenant
MILLER BRANGUS: Hires Dunham Hildebrand as Bankruptcy Counsel
MORGANS HOTEL: Accommodations Acquisition Reports 7.1% Stake

MORGANS HOTEL: Incurs $13.4 Million Net Loss in First Quarter
MORGANS HOTEL: Pine River Reports 9% Stake as of May 10
MORGANS HOTEL: Ronald Burkle Reports 26.4% Stake as of May 9
MORGANS HOTEL: Signs Voting Agreement with OTK Associates
MORGANS HOTEL: To be Acquired by Lifestyle Hospitality Company SBE

MUSCLEPHARM CORP: Incurs $6.6 Million Net Loss in First Quarter
NCL CORP: S&P Raises CCR to 'BB', Outlook Stable
NEONODE INC: Incurs $1.36 Million Net Loss in First Quarter
NEPHROGENEX INC: Taps Cassel Salpeter as Investment Banker
NORTEL NETWORKS: Court to Hear Bid for Interim Creditor Payments

NORTHERN OIL: Amends Credit Agreement with Royal Bank
NORTHERN OIL: Incurs $127 Million Net Loss in First Quarter
NUO THERAPEUTICS: Court Approves Revised $229K KEIP
OAK CREEK PLAZA: Case Summary & 11 Unsecured Creditors
OAKLAND PHYSICIANS: Patient Care Ombudsman Issues 16th Report

ODYSSEY ACADEMY: S&P Lowers Rating on Revenue Debt to 'BB+'
OFFICE DEPOT: S&P Affirms 'B-' CCR, Off CreditWatch Positive
ORIENTAL CANTONES: Taps Robert Millan as Bankruptcy Counsel
PEABODY ENERGY: Prairie State Agreement Approval Sought
PENSKE AUTOMOTIVE: S&P Rates Proposed $500MM Sr. Sub. Notes 'B+'

PETALUMA FAMILY: Case Summary & 2 Unsecured Creditors
PICO AT PICO: Case Summary & 2 Unsecured Creditors
PICO HOLDINGS: CEO Pay Negotiated in "Bad Faith", River Road Says
PILGRIM'S PRIDE: Wins Dismissal of Suit Filed by Growers
PINNACLE RESORT: Seeks Court Approval to Hire McLaughlin & Stern

PODS LLC: S&P Alters 1st Lien Loan Rating to B Over $170MM Add-on
POTLATCH CORP: S&P Revises Outlook to Positive & Affirms 'BB' CCR
PRINTPACK HOLDINGS: S&P Raises Rating to 'B+', Outlook Stable
R&S HEATING: Fund Loses Summary Judgment Bid
RAILYARD COMPANY: Judge Denies Appointment of Pierce as Trustee

RIO MOBILE: Taps Marcos D. Oliva as Bankruptcy Counsel
ROCKWELL MEDICAL: Reports $4.82 Million Net Loss for First Quarter
ROSEMAN UNIVERSITY: S&P Puts 'BB-' Bonds Rating on Watch Neg.
RSP PROFESSIONAL: Case Summary & Unsecured Creditor
RYERSON HOLDING: S&P Revises Outlook to Pos. & Affirms 'B-' CCR

SABRE HOLDINGS: S&P Raises CCR to 'BB-', Outlook Stable
SAITO BROS: Trustee's TRO Bid Against Foreclosure Sale Denied
SANDRIDGE ENERGY: Files Voluntary Chapter 11 Bankruptcy Petition
SEA SHELL: Judge Orders Dismissal of Chapter 11 Case
SEACOR HOLDINGS: S&P Lowers CCR to 'B', Outlook Negative

SEPULVEDA SAMSON: Case Summary & 2 Unsecured Creditors
SFX ENTERTAINMENT: Hires Jones Lang as Real Estate Broker
SHELBOURNE NORTH: Court Sanctions Kelleher for Baseless Suit
SKYBRIDGE SPECTRUM: Objects to Leong's Sec. 543 Motion
SOUTHCROSS ENERGY: Incurs $15.5 Million Net Loss in First Quarter

SPI ENERGY: Appoints New Independent Director
SPI ENERGY: Enters into $57 Million Share Purchase Agreements
SS BODY ARMOR: Cohen's Bid to Stay Pending Appeal Denied
ST. MICHAEL'S MEDICAL: Court OKs Global Settlement Agreement
STAPLES INC: Fitch Affirms 'BB+' IDR, Off CreditWatch Negative

STELLAR BIOTECHNOLOGIES: Incurs $861,000 Net Loss in 1st Quarter
STONEGATE MORTGAGE: S&P Revises Outlook to Neg. & Affirms 'B' ICR
TAG ENTERTAINMENT: Bankr. Court Recommends Judgment Favoring U.S.
TELEFLEX INC: S&P Lowers Rating on Sr. Unsecured Debt to 'BB'
TENET HEALTHCARE: BlackRock Reports 11.1% Stake

THIS IS IT LLC: Case Summary & 2 Unsecured Creditors
THREE FROGS: Plea to Extend Exclusive Solicitation Period Denied
TITAN INTERNATIONAL: S&P Revises Outlook to Neg. & Affirms B- CCR
TRIANGLE PETROLEUM: Inks Special Compensation Pact with COO & CAO
UNIVERSAL WELL: Hires Ritchie Bros. as Auctioneer

VV HOSPITALITY: Case Summary & 2 Unsecured Creditors
WABASH NATIONAL: S&P Raises Rating to 'BB', Outlook Stable
WAFERGEN BIO-SYSTEMS: Incurs $4.40-Mil. Net Loss in First Quarter
WAGLE LLC: U.S. Trustee Unable to Appoint Committee
WESTMORELAND COAL: Posts $30.1 Million Net Income for Q1

WESTMORELAND RESOURCE: Incurs $8.85-Mil. Net Loss in 1st Quarter
WHITING PETROLEUM: To Convert $476M Notes Into Common Shares
Y&K SUN INC: Case Summary & 10 Unsecured Creditors
YRC WORLDWIDE: Files Copy of Presentation Materials with SEC
[*] Kaufman Joins King & Spalding's Atlanta, DC Offices as Partner

[^] Large Companies with Insolvent Balance Sheet

                            *********

22ND CENTURY: Incurs $3.25 Million Net Loss in First Quarter
------------------------------------------------------------
22nd Century Group, Inc., filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $3.25 million on $3.02 million of revenue for the three months
ended March 31, 2016, compared to a net loss of $4.11 million on
$616,138 of revenue for the same period in 2015.

Asof March 31, 2016, the Company had $20.59 million in total
assets, $3.95 million in total liabilities and $16.6 million in
total shareholders' equity.

As of March 31, 2016, the Company had positive working capital of
approximately $6.12 million compared to positive working capital of
approximately $3.99 million at Dec. 31, 2015, an increase of
approximately $2.13 million.  The increase in the Company's working
capital position was mainly a result of the net proceeds received
from a February 2016 registered direct offering of approximately
$5.10 million, offset by cash used in its operating activities of
approximately $2.80 million.

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

                      https://is.gd/Q2fiFW

                       About 22nd Century

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

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


4522 KATELLA AVENUE: Wants Plan Filing Period Extended to June 17
-----------------------------------------------------------------
4522 Katella Avenue, LLC, asks the U.S. Bankruptcy Court for the
District of Kansas to continue the deadline to file its' Chapter 11
Plan and also extend the exclusivity period until June 17, 2016, in
light of the sale of real estate and fixtures and  the
unascertained balances, if any, owed to ColFin MF5 Funding, LLC.

The Lender holds a first mortgage on two of the Debtor's
properties, Parkside Apartments, located at 928 North Carter,
Wichita, Kansas 67203, and Longfellow Apartments, located at 1212
South Longfellow, Wichita, Kansas 67207.  It is the Debtor's only
secured creditor.

On Dec. 23, 2015, the Debtor and ColFin entered into stipulation
regarding interim use of cash collateral that require the Debtor to
file an adversary action within 60 days of signing the Stipulation
if it intends to challenge the balances of the Lender's loans on
the Properties.  The Debtor has timely challenged the alleged
balances by filing an adversary proceeding as mandated by the
Stipulation.

Scheduling for the adversary has not been agreed to by the parties
or set by the Court.

On May 6, 2016, pursuant to the motion of sale of real estate and
fixtures and payment of broker's commission, the Court entered an
agreed order granting the motion.  The Properties are scheduled
to close on May 19, 2016.

                     About 4522 Katella Avenue

Long Beach, California-based 4522 Katella Avenue, LLC, owner of
three apartment complexes, sought protection under Chapter 11 of
the Bankruptcy Code on September 25, 2015 (Bankr. D. Ks. Case No.
15-12107).  

The Debtor estimated $1 million to $10 million in assets and debt.

4522 Katella is represented by David G. Arst, at Arst & Arst, P.A.


ADAMIS PHARMACEUTICALS: Has License Agreement with Allergan Unit
----------------------------------------------------------------
Adamis Pharmaceuticals Corporation has entered into an exclusive
licensing agreement with Allergan plc's wholly owned subsidiary,
Watson Laboratories, Inc., to commercialize Adamis' Epinephrine
Pre-filled Syringe product candidate for the emergency treatment of
anaphylaxis.

Under the terms of the agreement, Watson will obtain commercial
rights for the U.S. in exchange for an upfront fee and potential
regulatory and performance based milestone payments totaling up to
$32.5 million.  Additionally, Watson will pay double-digit
royalties to Adamis based on income from future sales of the PFS in
the U.S.  Adamis retains rights to commercialize the PFS in the
rest of the world.

Dr. Dennis J. Carlo, president and CEO of Adamis, stated, "There is
significant demand in the market for an alternative to the
high-cost epinephrine auto-injectors.  We feel that Allergan,
through its planned merger with Teva, is the ideal partner to
market our epinephrine PFS in the U.S. and by doing so, maximize
the value of the product for our shareholders."

"The epinephrine pre-filled syringe offers payers a cost effective
option that can be utilized in specific treatment settings
including hospitals and clinics, and will have applications with
select patient populations.  We are pleased to be partnering with
Adamis to commercialize this unique product offering," said Andy
Boyer, Allergan President of U.S. Generic Sales and Marketing.

As previously disclosed in public filings, Allergan's Generics
business will be transferred to Teva Pharmaceutical Industries Ltd.
(NYSE and TASE: TEVA) pursuant to a pending sale transaction. This
licensing agreement will have no material impact to the timing or
likelihood of completion of Allergan's transaction with Teva.

                            About Adamis

San Diego, Calif.-based Adamis Pharmaceuticals Corporation (OTC
QB: ADMP) is a biopharmaceutical company engaged in the
development and commercialization of specialty pharmaceutical and
biotechnology products in the therapeutic areas of respiratory
disease, allergy, oncology and immunology.

Adamis reported a net loss of $13.6 million on $0 of revenue for
the year ended Dec. 31, 2015, compared to a net loss of $9.31
million on $0 of revenue for the year ended Dec. 31, 2014.
As of Dec. 31, 2015, Adamis had $12.06 million in total assets,
$2.74 million in total liabilities and $9.31 million in total
stockholders' equity.

Mayer Hoffman McCann P.C., in San Diego, California, issued a
"going concern" qualification on the consolidated financial
statements for the year ended Dec. 31, 2015, citing that the
Company has incurred recurring losses from operations, and is
dependent on additional financing to fund operations.  These
conditions raise substantial doubt about the Company's ability to
continue as a going concern, the auditors noted.


ADELPHIA COMMUNICATIONS: Extends Exchange Offers Until May 19
-------------------------------------------------------------
ACC Claims Holdings, LLC on May 13 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 19, 2016.  The exchange offers were
previously scheduled to expire at 5:00 p.m., New York City time, on
Thursday, May 12, 2016.  As of 5:00 p.m.,
New York City time, on Thursday, May 12, 2016, Eligible Holders of
$3,991,358,416.00 original principal amount of ACC Senior Notes (as
defined in the Plan of Reorganization) outstanding, Eligible
Holders of $273,289,582.05 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, May 5, 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 (as defined below) (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.


ADVANTAGE AVIATION: Voluntary Chapter 11 Case Summary
-----------------------------------------------------
Debtor: Advantage Aviation Technologies II, LLC
        201 Regal Row
        Dallas, TX 75247

Case No.: 16-31973

Chapter 11 Petition Date: May 15, 2016

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

Debtor's Counsel: Rakhee V. Patel, Esq.
                  SHACKELFORD, BOWEN, MCKINLEY & NORTON, LLP
                  9201 N. Central Expressway, 4th Floor
                  Dallas, TX 75231
                  Tel: 214-780-1400
                  Fax: 214-780-1401
                  E-mail: rpatel@shackelfordlaw.net

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Dennis Moore, president.

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


AES CORP: Fitch Assigns 'BB' Rating on $500MM Sr. Unsecured Notes
-----------------------------------------------------------------
Fitch Ratings has assigned a 'BB' rating to the AES Corporation's
issuance of $500 million senior unsecured notes due in 2026. The
Rating Outlook is Stable.  The proceeds will primarily be used to
partially refinance June 2019 floating rate notes.

                         KEY RATING DRIVERS

AES' rating and Outlook reflect Fitch's expectations that the
company will maintain recourse debt/ adjusted parent-only cash flow
(APOCF) below 5.5x and APOCF interest coverage above 2.5x over the
next few years.  Despite macroeconomic headwinds, AES' rating
stability is expected to be driven by continued balance sheet and
liquidity discipline including execution of the planned debt
reduction, a balanced approach to share buybacks relative to the
financial performance of investments and debt levels, reduced
dependence on projects in struggling markets and successful
execution of the cost cutting initiatives.  The rating and Outlook
also incorporate expectations that AES will maintain its current
risk profile and continue to secure earnings and cash flows from
regulated utility holdings and long-term contracts.

In 2015, the company reduced its recourse debt by $240 million and
is expected to retire a total of $200 million debt in 2016.  Parent
free cash flow (FCF) is expected to grow approximately 10% from
2016 to 2018.  The company has also announced a plan to potentially
sell up to $1 billion assets in the next several years and a $150
million cost reduction/revenue enhancement program over three
years, which could improve liquidity and accommodate debt
reduction.

On April 27, 2016, AES' Maritza project in Bulgaria received
approximately $350 million of receivables from Natsionalna
Elektricheska Kompania EAD (NEK), which Fitch views favourably as
it resolved NEK's chronic late payment issue and modestly improves
cash distribution to AES.  The payment was conditioned upon
reducing capacity payment to Maritza by 14% through 2026 when the
power purchase agreement expires.  Going forward, Fitch expects the
importance of distribution from Maritza to AES will continue to
decline as 5.9 GW of new projects come online from 2016-2018 in the
U.S., India, Chile, Dominican Republic and the Philippines.

Fitch applies a deconsolidated approach when assigning AES' ratings
and Outlook due to its corporate profile and structure as an
investment holding company that owns a diverse portfolio of
regulated utilities and power generation assets.  The primary
credit measures are recourse debt/APOCF and APOCF interest
coverage.

Approximately 75% of AES' consolidated debt is non-recourse. Fitch
expects AES' recourse debt/APOCF to decline to below 5.5x by 2018.
The APOCF interest coverage is expected to improve to 3x by 2018.
These metrics don't incorporate any distribution from or equity
contribution to AES' subsidiary DPL, Inc. (DPL, IDR 'B+'/Outlook
Stable), whose Ohio utility is experiencing regulatory
uncertainties associated with deregulation.

                        RATING SENSITIVITIES

Positive: Future developments that may, individually or
collectively, lead to a positive rating action include:

Fitch will consider a positive rating action if recourse debt/APOCF
sustains below 4.5x and APOCF interest coverage above 3.5x assuming
the risk profile remains the same.

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

The ratings and Outlook could be pressured if AES fails to achieve
recourse debt/APOCF lower than 5.5x and APOCF interest coverage
higher than 2.5x on a sustainable basis or if AES increases
shareholder distributions without a net reduction in debt.
Unexpected and material financial support to DPL could also
pressure AES' ratings and Outlook.  A change in strategy to invest
in more speculative, non-contracted assets or a material decline in
cash flow from contracted power generation assets could also lead
to negative actions.

KEY ASSUMPTIONS

   -- 10% growth for POCF each year for 2017 and 2018;

   -- Net debt reduction of $150 million in 2016 and no debt
      reduction in 2017 and 2018;

   -- $200 million asset sale from 2016-2018 each year;

   -- No distribution from and no equity injection to DPL;

   -- 2016 equity injection to its subsidiary IPALCO from AES and
      partner CDPQ totals $254 million (AES: $120 million, CDPQ:
      $134 million).  No equity injections are assumed after 2016.


AF-SOUTHEAST LLC: Baird Mandalas Representing AF Noteholders Group
------------------------------------------------------------------
To comply with Rule 2019 of the Federal Rules of Bankruptcy
Procedure, Stephen W. Spence, Esq., at Baird Mandalas Brockstedt,
LLC,  filed on May 12, 2016, in the Chapter 11 cases of
AF-Southeast, LLC, et al., a Bankruptcy Rule 2019 disclosure
statement, stating that he and Aaron C. Baker, Esq., represent a
group that consists of individuals and trusts, each of whom hold
one or more of Allied Fiber Notes issued between 2012 and 2014.

The notes are entitled 16% Senior Secured Convertible Promissory
Note, Senior Secured Convertible Promissory Note, or Secured
Promissory Note.  The Group's members are several family-related
trusts and individuals.  The Group, which was formed at the
suggestion of A. Jonathan Schwartz, as Trustee of the Milton I.
Schwartz Revocable Family Trust, includes:

      -- Schwartz Investment Partnership;

      -- David J. Zarin, the Jonathan Zarin 1994 Irrevocable
         Trust, Alan Rivlin, Trustee;

      -- the Milton I. Schwartz Revocable Family Trust, A Jonathan

         Schwartz, Successor Trustee; and

      -- the AJS 2008 Irrrevocable Trust, A. Jonathan Schwartz,
         Trustee, the Jennifer G. Zarin Irrevocable Family Trust,
         Eileen J. Zarin 1991 Irrevocable Trust, Samuel Schwartz
         1991 Irrevocable Trust, and the Robin Sue Landsburg 1991
         Irrevocable Family Trust, Alan Rivlin, Successor Trustee,

         and Robert J. Zarin.

Baird Mandalas can be reached at:

         Stephen W. Spence, Esq.
         Aaron C. Baker, Esq.
         Baird Mandalas Brockstedt, LLC
         6 South State Street
         Dover, DE 19901
         Tel: (302) 677-0061

                     About AF-Southeast LLC

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

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

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

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

Judge Kevin Gross is assigned to the cases.


AIX ENERGY: Ch.11 Trustee Hires Toney Johnson as Broker
-------------------------------------------------------
Jason Searcy, the Chapter 11 Trustee for AIX Energy, Inc., asks the
U.S. Bankruptcy Court for the Northern District of Texas for
authority to employ Toney Johnson and Toney Johnson Real Estate as
his Broker and Real Estate Agent.

The Chapter 11 Trustee requires Toney Johnson Real Estate to assist
the Chapter 11 Trustee in the sale of a portion of the Debtors'
estate.

Toney Johnson Real Estate will be paid under a commission basis of
6%.  The commission will be paid (and/or deducted) by the trustee
from the closing proceeds of sale, in addition, premium for the
title policy, and other incidental closing expenses that are
reasonable and customary in real estate transactions.

Toney Johnson, Broker, 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 Debtor and its estates.

Toney Johnson Real Estate can be reached at:

      Toney Johnson
      P.O. Box 195
      314 Johnson Road
      Homer, LA 71040
      Tel: (318) 927-6942

                        About AIX Energy

AIX Energy, Inc., is an oil and gas exploration and production
company.  AIX's business includes drilling oil and gas wells and
selling the petroleum products that result from such drilling
activities.  As such, AIX acquires and holds drilling and
production rights over various tracts of land located in Louisiana
through a number of oil, gas and mineral leases.

AIX Energy sought Chapter 11 bankruptcy protection (Bankr. N.D.
Tex. Case No. 15-34245) on Oct. 22, 2015.  The petition was signed
by Robert A. Imel, president.

The AIX case was originally assigned to Judge Barbara J. Houser,
but was transferred to Judge Stacey G.C. Jernigan, who oversees
the
bankruptcy case of Antero Energy Partners.

AIX tapped The Harvey Law Firm, P.C., as counsel when it filed for
bankruptcy.  The Debtor won approval to engage Orenstein Law
Group,
P.C. as special counsel.

The Official Committee of Unsecured Creditors won approval to
retain Michael S. Haynes and the firm Gardere Wynne Sewell LLP as
counsel.

                            *     *      *

The Sec. 341(a) meeting of creditors was held Nov. 19, 2015, which
was continued to Jan. 5, 2016.

AIX on Feb. 12, 2016, filed a motion to extend by 90 days its
exclusive period to propose a Chapter 11 plan by May 19, 2016, and
its exclusive period to solicit acceptances of that that plan by
Aug. 19, 2016.  No order was entered.

Instead, the Court on March 23 entered an order directing the
appointment of a Chapter 11 trustee in AIX's case.

On March 14, 2016, Judge Houser held a hearing on the motion for
joint administration of the Chapter 11 cases of AIX and Antero.
At
the conclusion of the hearing, the Court determined not to order
the joint administration of the cases and further determined to
transfer the AIX case to Judge Jernigan.

On March 18, 2016, the Official Committee of Unsecured Creditors
and LegacyTexas Bank entered a stipulation extending the
Investigation Period as defined in  Final DIP the Order with
respect to the Committee is extended through and including April
21, 2016.


ALEXZA PHARMACEUTICALS: Extends Ferrer Note Maturity to Sept. 2016
------------------------------------------------------------------
As disclosed in a Form 8-K report filed with the Securities and
Exchange Commission, Alexza Pharmaceuticals, Inc., on May 9, 2016,
amended and restated that certain promissory note previously issued
to Grupo Ferrer Internacional, S.A. ("Parent") on Sept. 28, 2015,
as amended on March 21, 2016, and April 18, 2016, to, among other
things (i) increase the maximum principal amount of the Restated
Note to $6.3 million, (ii) extend the maturity date of the Restated
Note to Sept. 30, 2016, and (iii) provide for certain events of
default under the Restated Note in connection with the Merger.  As
of May 10, 2016, the outstanding principal amount of the Restated
Note was $6.3 million.  A copy of the Amended and Restated
Promissory Note is available for free at:

                       https://is.gd/uJEV4v

               About Alexza Pharmaceuticals, Inc.

Alexza Pharmaceuticals is focused on the research, development, and
commercialization of novel, proprietary products for the acute
treatment of central nervous system conditions.  Alexza's products
and development pipeline are based on the Staccato(R) system, a
hand-held inhaler designed to deliver a pure drug aerosol to the
deep lung, providing rapid systemic delivery and therapeutic onset,
in a simple, non-invasive manner.  Active pipeline product
candidates include AZ-002 (Staccato alprazolam) for the management
of epilepsy in patients with acute repetitive seizures and AZ-007
(Staccato zaleplon) for the treatment of patients with middle of
the night insomnia.

Alexza reported a net loss of $21.31 million on $5.02 million of
total revenues for the year ended Dec. 31, 2015, compared to a net
loss of $36.73 million on $5.56 million of total revenues for the
year ended Dec. 31, 2014.  As of Dec. 31, 2015, Alexza had $14.73
million in total assets, $86.38 million in total liabilities and a
total stockholders' deficit of $71.65 million.

OUM & CO. LLP, in San Francisco, California, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2015, citing that the Company has recurring
losses from operations and has a net capital deficiency that raise
substantial doubt about its ability to continue as a going concern.


ALEXZA PHARMACEUTICALS: To be Acquired by Ferrer
------------------------------------------------
Alexza Pharmaceuticals, Inc. and Grupo Ferrer Internacional, S.A.
announced that they have entered into a definitive agreement under
which Ferrer Pharma Inc., a wholly-owned subsidiary of Ferrer, will
acquire Alexza for $0.90 per share in cash.  In addition to the
upfront cash payment, Alexza stockholders will be granted
contingent value rights to receive cash payments in four payment
categories if specified milestones are achieved following the
closing.  The transaction is expected to close in the second
quarter of 2016 and is subject to customary closing conditions.

The $0.90 per share cash consideration represents a 210% premium to
Alexza's closing share price on Feb. 26, 2016, the last trading day
prior to announcement that Alexza and Ferrer had entered into a
non-binding letter of intent with respect to Ferrer's proposed
acquisition of Alexza, a 177% premium to the volume-weighted
average trading price over the thirty trading days ending on
Feb. 26, 2016, and a 67% premium to the closing price on May 9,
2016.

"We see Ferrer as the ideal company to acquire Alexza as we
continue to strive toward global commercial success with ADASUVE
and to re-energize our Staccato-based product pipeline," said
Thomas B. King, president and CEO of Alexza.  "Over the past four
years, we have come to appreciate their professionalism, passion,
dedication and commitment to Alexza's technologies, products and
people. With this combination, we feel that Alexza's products will
be well positioned for long-term success in serving important
patient needs."

"We are pleased that Alexza, the company that created and developed
ADASUVE and the Staccato technology, will be part of Ferrer and we
look forward to working with our new Alexza colleagues to continue
creating significant value for patients worldwide.  We firmly
believe that the Staccato technology will change the lives of
patients with severe mental and neurological disorders.  At the
same time it will help healthcare professionals to improve their
management in the increasingly digitalized and personalized
healthcare context," said Jordi Ramentol, CEO of Ferrer.

Under the terms of the agreement, Ferrer Pharma will commence a
tender offer to acquire all outstanding shares of Alexza's common
stock for $0.90 per share in cash plus one contingent value right
entitling the stockholder to receive a pro-rata share of up to four
payment categories in an aggregate (i.e., to all contingent value
right holders assuming all four payments are made) maximum amount
of $35 million (subject to certain deductions) if certain licensing
payments and revenue milestones are achieved.

Upon successful completion of the tender offer, Ferrer Pharma will
acquire all remaining shares not tendered in the tender offer
through a second-step merger at the same price and with the
obligation to make the same contingent cash consideration payments
as are made to stockholders tendering their shares in the tender
offer.  The tender offer and withdrawal rights are expected to
expire at 12:00 midnight, New York City time on the 20th business
day after the launch of the tender offer, unless extended in
accordance with the merger agreement and the applicable rules and
regulations of the U.S. Securities and Exchange Commission.

The consummation of the tender offer is subject to various
conditions, including a minimum tender of a number of Alexza shares
that, when added to the shares held by Ferrer, represents a
majority of outstanding shares (including shares issued upon the
exercise of options).  The Board of Directors of Alexza unanimously
approved the transaction.

Guggenheim Securities, LLC acted as the financial advisor to
Alexza, and Cooley LLP acted as legal advisor to Alexza.  Skadden,
Arps, Slate, Meagher & Flom LLP and J&A Garrigues, S.L.P. acted as
legal advisors to Ferrer.

In an amended Schedule 13D filed with the Securities and Exchange
Commission, Grupo Ferrer Internacional, S.A. disclosed that as of
May 9, 2016, it beneficially owns 2,366,935 shares of common stock
of Alexza representing 10.9 percent of the shares outstanding.  A
copy of the regulatory filing is available at https://is.gd/qLjSQg

               About Alexza Pharmaceuticals, Inc.

Alexza Pharmaceuticals is focused on the research, development, and
commercialization of novel, proprietary products for the acute
treatment of central nervous system conditions.  Alexza's products
and development pipeline are based on the Staccato(R) system, a
hand-held inhaler designed to deliver a pure drug aerosol to the
deep lung, providing rapid systemic delivery and therapeutic onset,
in a simple, non-invasive manner.  Active pipeline product
candidates include AZ-002 (Staccato alprazolam) for the management
of epilepsy in patients with acute repetitive seizures and AZ-007
(Staccato zaleplon) for the treatment of patients with middle of
the night insomnia.

Alexza reported a net loss of $21.31 million on $5.02 million of
total revenues for the year ended Dec. 31, 2015, compared to a net
loss of $36.73 million on $5.56 million of total revenues for the
year ended Dec. 31, 2014.  As of Dec. 31, 2015, Alexza had $14.73
million in total assets, $86.38 million in total liabilities and a
total stockholders' deficit of $71.65 million.

OUM & CO. LLP, in San Francisco, California, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2015, citing that the Company has recurring
losses from operations and has a net capital deficiency that raise
substantial doubt about its ability to continue as a going concern.


ANACOR PHARMACEUTICALS: Incurs $16.1 Million Net Loss in Q1
-----------------------------------------------------------
Anacor Pharmaceuticals, Inc., filed with the Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing a
net loss of $16.1 million on $17.5 million of total revenues for
the three months ended March 31, 2016, compared to a net loss of
$12.96 million on $15.3 million of total revenues for the same
period in 2015.

As of March 31, 2016, Anacor had $164 million in total assets, $119
million in total liabilities, $49,000 in redeemable common stock
and $44.6 million in total stockholders' equity.

"This is an exciting time for Anacor.  In January 2016, we
submitted our NDA for crisaborole topical ointment, 2%, to the FDA
ahead of schedule.  The FDA has accepted the crisaborole NDA for
review with a PDUFA goal date of January 7, 2017.  We believe there
is a significant unmet medical need for a novel non-steroidal
topical anti-inflammatory treatment option for patients suffering
with mild-to-moderate atopic dermatitis, and we look forward to
working with the FDA during the regulatory review process," said
Paul L. Berns, Anacor's chairman and chief executive officer.  "We
believe that we are well positioned to execute our commercial
strategy in support of the launch of crisaborole, if approved, in
the U.S."

Cash, cash equivalents and investments totaled $137.9 million as of
March 31, 2016, compared to $144.4 million as of Dec. 31, 2015.
Balances as of March 31, 2016, and Dec. 31, 2015, included cash and
cash equivalents of $25.0 million and $53.7 million, short-term
investments of $110.6 million and $87.9 million and restricted
investments of $2.2 million and $2.8 million, respectively.

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

                      https://is.gd/f187I2

                   About Anacor Pharmaceuticals

Palo Alto, Calif.-based Anacor Pharmaceuticals (NASDAQ: ANAC) is a
biopharmaceutical company focused on discovering, developing and
commercializing novel small-molecule therapeutics derived from its
boron chemistry platform.  Anacor has discovered eight compounds
that are currently in development.  Its two lead product
candidates are topically administered dermatologic compounds -
tavaborole, an antifungal for the treatment of onychomycosis, and
AN2728, an anti-inflammatory PDE-4 inhibitor for the treatment of
atopic dermatitis and psoriasis.

Anacor reported a net loss of $61.2 million on $82.4 million of
total revenues for the year ended Dec. 31, 2015, compared to a net
loss of $87.1 million on $20.7 million of total revenues for the
year ended Dec. 31, 2014.


ANDERSON UNIVERSITY: Fitch Affirms 'BB+' Rating on $35.6MM Bonds
----------------------------------------------------------------
Fitch Ratings has affirmed the 'BB+' rating on approximately
$35.6 million of the City of Anderson, Indiana economic development
revenue refunding and improvement bonds issued on behalf of
Anderson University (AU).

The Rating Outlook is revised to Negative from Stable.

                             SECURITY

The bonds are an unsecured general obligation of the university. As
additional security, there is a cash-funded debt service reserve
fund.

                         KEY RATING DRIVERS

WEAKENING OPERATING PERFORMANCE: The Negative Outlook reflects
weakening operating performance driven by continued enrollment
declines.  AU generated a small operating deficit and weaker but
still-adequate coverage in fiscal 2015.  Fiscal 2016 results are
expected to be materially weaker, due in part to a voluntary
retirement initiative.

CONTINUED ENROLLMENT DECLINE: Total enrollment continues to
decline, however, preliminary data indicate a larger fall 2016
freshman class compared to fall 2015, which declined slightly from
the prior year.  Management has several initiatives in place to
stabilize enrollment, but AU remains in a competitive environment.


LIMITED BALANCE SHEET RESOURCES: AU's balance sheet resources
provide limited financial cushion in line with the rating level.
Available funds, defined by Fitch as cash and investments not
permanently restricted, equaled 28.4% of fiscal 2015 operating
expenses and 24.2% of debt.

MODERATELY HIGH DEBT BURDEN: The university's maximum annual debt
service (MADS) equaled a moderately high 8.2% of fiscal 2015
unrestricted operating revenues (excluding affiliate activities).
MADS coverage from operations was adequate for the rating category
at 1.4x.  AU has no plans for additional debt at this time.

                        RATING SENSITIVITIES

RETURN TO BALANCED OPERATIONS: Failure of Anderson University to
progress toward budgetary balance or to maintain balance sheet
resources over the two-year Outlook period would likely lead to a
downgrade.

STABILIZING ENROLLMENT: Level or increasing incoming classes
leading to stabilized enrollment are necessary to maintain the
current rating level.

                          CREDIT PROFILE

Founded in 1917, Anderson University is a small Christian
university located in Anderson, IN (35 miles northeast of
Indianapolis).  AU was founded by and affiliated with the Church of
God (Anderson, IN) (COG) and is the only college affiliated with
COG in the Midwest.  The university offers around 60 undergraduate
majors as well as graduate programs in business, music, nursing,
and theology.  The university also maintains a Department of Adult
Studies that offers bachelor and associates degrees and non-credit
programs for adult students.

                    WEAKER OPERATING PERFORMANCE

AU's operating performance has weakened due to continued enrollment
declines and ongoing expense pressures.  GAAP-based operating
results were effectively breakeven for two years, including a 0.6%
deficit margin in fiscal 2015.  AU has been successful in recent
years in maintaining net tuition revenue, which is down only 1.9%
over the fiscal 2011 to 2015 period, and preserving operating
balance through expense management despite FTE enrollment declines
totaling 11.9% over that period.

However, AU's budget is becoming increasingly challenged.  The
university expects a sizeable operating deficit in fiscal 2016
reflecting flat net tuition and some growth in expenses.  The
expected deficit will be increased by a voluntary retirement
initiative.  AU will record a one-time expense of about $2.5
million in fiscal 2016 (cash will be disbursed over two years) in
order to generate roughly $1 million of annual savings going
forward.  Management expects improved but still deficit operations
in fiscal 2017, but expects stable enrollment and expense cuts to
result in budgetary balance by fiscal 2018.  Failure to progress
toward budgetary balance over the two-year Outlook period would
likely lead to a downgrade.

Affiliate operations, primarily the Flagship Enterprise Center
(FEC), a regional incubator and business center created through a
partnership between AU and the City of Anderson, are profitable.
Affiliate activities are consolidated on AU's financial statements
based on AU's ability to appoint a majority of the FEC's board.
However, FEC resources are not directly available to support AU
operations, nor are AU's resources legally available to meet FEC
obligations.  Fitch evaluates AU's operating performance primarily
based on direct university activities, excluding affiliate
activities.

                 ENROLLMENT EXPECTED TO STABILIZE

AU's headcount enrollment has fallen 11% from a peak of 2,611 in
fall 2011 to 2,325 in fall 2015.  The trend reflects a competitive
environment, increasing price sensitivity and AU's primary overlap
with nearby public institutions that are lower cost.  Under a new
marketing and admissions team, the university is pursuing several
strategies to bolster enrollment including student retention
initiatives, enhance marketing efforts, targeted student aid,
curricular changes to accommodate more transfer students, and
programmatic adjustments to align with market demand.

AU expects a larger fall 2016 incoming class based on applications,
admits and deposits that are all ahead year-over-year for both
freshmen and transfers.  The incoming class size has been fairly
stable from fall 2013 to fall 2015, following materially larger
classes in prior years.  Continued flat or growing matriculation
would result in stable enrollment by fall 2017 below the historical
peak but at a level Fitch believes would be sufficient for AU to
achieve budgetary balance.  However, inability to stabilize
enrollment over the next two admissions cycles would further
pressure the rating.

                  LIMITED BALANCE SHEET RESOURCES

AU's balance sheet resources provide limited financial cushion in
line with the rating level.  Available funds equaled 28.4% of
fiscal 2015 operating expenses and 24.2% of debt.  AU's permanently
restricted endowment is not included in Fitch's calculation of
available funds, but it supports the university through annual
distributions.  While certain permanent funds in the $34.2 million
(net) endowment remain underwater due to recession-era losses, the
4% policy draw for operations is still conservative and manageable
on a net basis.

                    MODERATELY HIGH DEBT BURDEN

The university's debt burden is moderately high, with MADS equal to
8.2% of fiscal 2015 unrestricted operating revenues (excluding
affiliate activities).  MADS coverage from university operations
has declined but remains adequate at 1.4x.  However, coverage may
be susceptible to some deterioration with weaker margins in fiscal
years 2016 and 2017.  The university remains in compliance with
financial covenants.  AU has no plans for additional debt at this
time, and Fitch does not believe the university has additional debt
capacity at the current rating level.


ANTERO ENERGY: Broyles Seeks Approval to Withdraw as Counsel
------------------------------------------------------------
Antero Energy Partners LLC's attorney is seeking court approval to
withdraw from representing the company in its Chapter 11 case.

In a motion filed with the U.S. Bankruptcy Court for the Northern
District of Texas, Frank Broyles, one of the attorneys hired by
Antero Energy, said the company no longer needs his services
following the appointment of a bankruptcy trustee.

"The debtor will likely not need further representation in this
matter," Mr. Broyles said, adding that the company does not oppose
the motion.

                       About Antero Energy

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


ANTERO ENERGY: Jeffrey Mims Appointed Chapter 11 Trustee
--------------------------------------------------------
William T. Neary, the United States Trustee for Region 6, sought
for and obtained from the U.S. Bankruptcy Court for the Northern
District of Texas, Dallas Division, the approval of the appointment
of Jeffrey Mims to serve as Chapter 11 Trustee.

The Court found Mr. Mims to be qualified to serve as Chapter 11
Trustee in the bankruptcy case.

Mr. Neary related that he selected Mr. Mims to serve as Chapter 11
Trustee after consulting with the appropriate parties-in-interest.

Mr. Neary had previously filed a Motion asking the Court to direct
the appointment of a Chapter 11 Trustee.  The Official Unsecured
Creditors' Committee of AIX Energy, Inc. joined Mr. Neary's Motion
for the appointment of a Chapter 11 Trustee.

The Official Unsecured Creditors' Committee of AIX Energy, Inc., is
represented by:

          Michael S. Haynes, Esq.
          Matthew J. Pyeatt, Esq.
          GARDERE WYNNE SEWELL LLP
          3000 Thanksgiving Tower
          1601 Elm Street
          Dallas, TX 75201-4761
          Telephone: (214)999-3000
          Facsimile: (214)999-4667
          E-mail: mhaynes@gardere.com
                  mpyeatt@gardere.com

William T. Neary, the United States Trustee for Region 6 is
represented by:

          Meredyth A. Kippes, Esq.
          OFFICE OF THE UNITED STATES TRUSTEE
          1100 Commerce Street, Room 976
          Dallas, TX 75242
          Telephone: (214)767-1079

                   About Antero Energy Partners

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


ANTHONY LAWRENCE: Exclusive Plan Filing Period Extended to Nov. 14
------------------------------------------------------------------
The Hon. Elizabeth S. Stong of the U.S. Bankruptcy Court for the
Eastern District of New York has extended, at the behest of Anthony
Lawrence of New York, Inc., the Debtor's exclusive period to file a
plan through and including Nov. 14, 2016, and the Debtor's
exclusive period to solicit acceptances of that plan through and
including Jan. 14, 2017.

Headquartered in Long Island City, New Yok, Anthony Lawrence of New
York, Inc., filed for Chapter 11 bankruptcy protection (Bankr.
E.D.N.Y. Case No. 15-44702) on Oct. 15, 2015, estimating its assets
at up to $50,000 and its liabilities at between $1 million and $10
million.  The petition was signed by Joseph J. Calagna, president.
Judge Elizabeth S. Stong presides over the case.  James P Pagano,
Esq., who has an office in New York, serves as the Debtor's
bankruptcy counsel.


AOG ENTERTAINMENT: Court Enforces Sec. 362 Protections
------------------------------------------------------
U.S. Bankruptcy Judge Stuart M. Bernstein has issued an order
enforcing the protections of Sections 362, 365 and 525 of the
Bankruptcy Code as to CORE Entertainment Inc.

As a result, all persons are stayed, restrained, and enjoined
from:

   a) Commencing or continuing any judicial, administrative, or
other action or proceeding against the Debtors that could have been
commenced before the Debtors' chapter 11 cases were commenced, or
recovering a claim against the Debtors that arose before the
commencement of the Debtors' chapter 11 cases;

   b) Enforcing a judgment obtained before the commencement of the
Debtors' chapter 11 cases against any of the Debtors or against
property of any of the Debtors' estates;

   c) Taking any action to obtain possession of property of the
Debtors' estates or of property from the Debtors' estates;

   d) Taking any action to create, perfect, or enforce any liens
against property of the Debtors' estates;

   e) Taking any action to create, perfect, or enforce any lien
against property of the Debtors to the extent that such lien
secures a claim that arose before the commencement of the Debtors'
chapter 11 cases;

   f) Taking any act to collect, assess, or recover a claim against
the Debtors that arose before the commencement of the Debtors'
chapter 11 cases;

   g) Offsetting any debt owing to the Debtors that arose before
the commencement of the Debtors' chapter 11 cases against any claim
against the Debtors; and

   h) Commencing or continuing a proceeding before the United
States Tax Court concerning the Debtors' tax liability.

                     About AOG Entertainment

CORE Entertainment Inc. and its subsidiaries own, produce, develop
and commercially exploit entertainment content.  The Company's
portfolio of world-class brands and entertainment properties
includes participation in the "IDOL"-branded shows, including
American Idol, Deutschland sucht den Superstar, Nouvelle Star and
more than fifty other franchises shown around the world, and the
popular television series "So You Think You Can Dance".  The
Company conducts its primary business activities through its
subsidiary groups, including 19 Entertainment.

CORE Entertainment Inc. and 47 other affiliates each filed a
Chapter 11 bankruptcy petition (Bankr. S.D.N.Y. Case Nos. 16-11087
to 16-11134, respectively) on April 28, 2016, two days prior to the
expiration of their forbearance agreement with (a) certain lenders
holding the requisite amount of loans under a first lien term loan
facility; and (b) Crestview Media Investors, L.P., as lender under
the first lien term loan facility and a second lien term loan
facility.  Pursuant to the Forbearance Agreements, the lenders
agreed to forbear from exercising their remedies on account of any
missed payments or certain alleged defaults under the Term Loan
Agreements.

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

The Debtors have hired Willkie Farr & Gallagher LLP as counsel,
Moelis & Company, LLC as financial advisor, PricewaterhouseCoopers
LLP as auditors and tax consultants and Kurtzman Carson Consultants
LLC as claims, noticing and administrative agent.

The cases are pending joint administration under AOG
Entertainment, Inc., Case No. 16-11090 before the Honorable Stuart
M. Bernstein.

Counsel to Ad Hoc Group of First Lien Lenders:

         Lee R. Bogdanoff, Esq.
         David A. Fidler, Esq.
         Whitman L. Holt, Esq.
         KLEE, TUCHIN, BOGDANOFF & STERN LLP
         1999 Avenue of the Stars, 39th Floor
         Los Angeles, CA 90067
         Telephone: (310) 407-4000
         Facsimile: (310) 407-9090
         E-mail: lbogdanoff@ktbslaw.com
                 dfidler@ktbslaw.com
                 wholt@ktbslaw.com

Attorneys for U.S. Bank, NA, in its capacity as Administrative
Agent Under First Lien Term Loan Agreement and Second Lien Term
Loan Agreement:

         ALSTON & BIRD LLP
         John W. Weiss, Esq.
         90 Park Avenue
         New York, NY 10016
         Phone: (212) 210-9400
         Fax: (212) 210-9444
         E-mail: john.weiss@alston.com

              - and -

         David A. Wender, Esq.
         Jonathan Edwards, Esq.
         1201 West Peachtree Street
         Atlanta, Georgia 30309
         Phone: (404) 881-7000
         Fax: (404) 881-7777
         E-mail: David.Wender@alston.com
                 Jonathan.edwards@alston.com


AOG ENTERTAINMENT: Schedules Deadline Extended to June 13
---------------------------------------------------------
U.S. Bankruptcy Judge Stuart M. Bernstein has extended the time
within which CORE Entertainment Inc. must file its schedules of
assets and liabilities and statement of financial affairs by 30
days, through and including June 13, 2016.

                     About AOG Entertainment

CORE Entertainment Inc. and its subsidiaries own, produce, develop
and commercially exploit entertainment content.  The Company's
portfolio of world-class brands and entertainment properties
includes participation in the "IDOL"-branded shows, including
American Idol, Deutschland sucht den Superstar, Nouvelle Star and
more than fifty other franchises shown around the world, and the
popular television series "So You Think You Can Dance".  The
Company conducts its primary business activities through its
subsidiary groups, including 19 Entertainment.

CORE Entertainment Inc. and 47 other affiliates each filed a
Chapter 11 bankruptcy petition (Bankr. S.D.N.Y. Case Nos. 16-11087
to 16-11134, respectively) on April 28, 2016, two days prior to the
expiration of their forbearance agreement with (a) certain lenders
holding the requisite amount of loans under a first lien term loan
facility; and (b) Crestview Media Investors, L.P., as lender under
the first lien term loan facility and a second lien term loan
facility.  Pursuant to the Forbearance Agreements, the lenders
agreed to forbear from exercising their remedies on account of any
missed payments or certain alleged defaults under the Term Loan
Agreements.

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

The Debtors have hired Willkie Farr & Gallagher LLP as counsel,
Moelis & Company, LLC as financial advisor, PricewaterhouseCoopers
LLP as auditors and tax consultants and Kurtzman Carson Consultants
LLC as claims, noticing and administrative agent.

The cases are pending joint administration under AOG
Entertainment, Inc., Case No. 16-11090 before the Honorable Stuart
M. Bernstein.


ASPECT SOFTWARE: Court Approves Backstop Agreement
--------------------------------------------------
Judge Mary F. Walrath of the U.S. Bankruptcy Court for the District
of Delaware authorized Aspect Software Parent, Inc., et al., to
enter into a Backstop Agreement with the Backstop Parties and pay
the Backstop Put Amount and Termination Payment.

Pursuant to the Backstop Agreement, and subject to the Court's
entry of an order confirming the Plan, Aspect Software, Inc.
("Parent") or a subsidiary of the Parent, will offer and sell the
Holdco PIK Convertible Notes as part of a rights offering, whereby
Rights Offering Participants ("Eligible Holders") will be offered a
non-transferable right to purchase up to such Eligible Holder's
pro-rata portion of the Holdco PIK Convertible Notes for the
purchase price equal to 100% of the principal amount of such notes
so acquired, which shall be issued on the effective date of the
Plan.

The Backstop Agreement contains, among others, these relevant
terms:

     (1) The Rights Offering:  

          (a) The Parent undertakes to offer, or cause the Holdco
Issuer to offer, Rights Offering Notes for subscription by holders
of Rights pursuant to the Plan.          

          (b) In connection with the Plan, the Issuer shall issue
Rights to purchase the Rights Offering Notes.  Each Eligible
Holder, as determined by the Parent, will receive a Right to
purchase, at the Purchase Price, up to its pro rata share of the
Rights Offering Notes.

          (c) The Issuer will issue the Rights Offering Notes to
the Eligible Holders with respect to which Rights were validly
exercised by such Eligible Holders upon the Plan Effective Date.  

     (2) The Backstop Commitments:

          (a) The Issuer may put and issue to each Backstop Party,
at the Purchase Price therefor, and each of the Backstop Parties,
severally and not jointly, agrees to purchase, on the Plan
Effective Date, its Backstop Percentage of the aggregate principal
amount of all Unsubscribed Notes as of the Rights Expiration Time
("Backstop Commitments").

          (b) To compensate the Backstop Parties for their
agreement to purchase the Unsubscribed Notes from the Issuer, the
Issuer will issue to the Backstop Parties, in the aggregate, on the
Plan Effective Date, an amount equal to five percent of the
aggregate number of shares of common stock of the Parent ("Common
Stock") to be issued on the Plan Effective Date in accordance  with
the Plan Support Agreement ("Backstop Put Amount") free and clear
of all withholding Taxes, Liens, pre-emptive rights, rights of
first refusal, subscription and similar rights subject to dilution
by the Management Incentive Plan.  The Backstop Put Amount shall be
payable solely in the form of Common Stock and solely upon the
consummation of the Plan and shall be allocated among the Backstop
Parties based on the Backstop Percentages of the Unsubscribed Notes
that each Backstop Party has agreed to backstop.

          (c) In the event that any Backstop Party fails to comply
with its obligations, all Rights Offering Notes not purchased by
the Defaulting Backstop Parties shall be allocated among each of
the Backstop Parties that is not a Defaulting Backstop Party.

A full-text copy of the Order dated April 25, 2016, is available at
https://is.gd/aRxNQw

                   About Aspect Software Parent

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

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

The Debtors are represented by Domenic E. Pacitti, Esq., and
Michael W. Yurkewicz, Esq., at Klehr Harrison Harvey Branzburg
LLP,
in Wilmington, Delaware; Morton Branzburg, Esq., at Klehr Harrison
Harvey Branzburg LLP, in Philadelphia, Pennsylvania; and Joshua A.
Sussberg, P.C., Esq., and Aparna Yenamandra, Esq., at Kirkland &
Ellis LLP, in New York; and James H.M. Sprayregen, P.C., Esq., and
William A. Guerrieri, Esq., at Kirkland & Ellis LLP, in Chicago,
Illinois.  The Debtors also tapped Alix Partners, LLP as financial
advisor, Jefferies LLC as investment banker and Prime Clerk LLC as
claims, notice, and balloting agent.

The Office of the U.S. Trustee disclosed in a court filing that no
official committee of unsecured creditors has been appointed in
the
Chapter 11 case of Aspect Software Parent, Inc.


ATLAS DISPOSAL: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Atlas Disposal Options Inc
        311 East Blackwell St
        Dover, NJ 07801

Case No.: 16-19253

Chapter 11 Petition Date: May 12, 2016

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

Judge: Hon. Vincent F. Papalia

Debtor's Counsel: Richard Fogel, Esq.
                  Vernon Colonial Plaza
                  PO Box 747, Rte 94
                  McAfee, NJ 07428
                  Tel: (973) 827-3933
                  Fax: (973) 827-7379
                  E-mail: rfogel@centurylink.net

Total Assets: $347,640

Total Liabilities: $1.05 million

The petition was signed by Paul Masser, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/njb16-19253.pdf


AURORA DIAGNOSTICS: Holds Conference Call to Review Results
-----------------------------------------------------------
Aurora Diagnostics Holdings, LLC held a conference call to review
its results for the quarter ended March 31, 2016, on May 12, 2016.

A telephonic replay of the conference call will be available
through May 19, 2016, and can be accessed by dialing (855) 859-2056
(toll free) or (404) 537-3406.  Please reference conference ID#
6396833.

                    About Aurora Diagnostics

Headquartered in Palm Beach Gardens, Florida, Aurora Diagnostics
Holdings, LLC, through its subsidiaries, provides physician-based
general anatomic and clinical pathology, dermatopathology,
molecular diagnostic services and other esoteric testing services
to physicians, hospitals, clinical laboratories and surgery
centers.  The company recognized approximately $260 million in
revenue for the 12 months ended June 30, 2013.  The company is
majority owned by equity sponsors KRG Capital Partners and Summit
Partners.

Aurora Diagnostics reported a net loss of $83.4 million on $264
million of net revenue for the year ended Dec. 31, 2015, compared
to a net loss of $55.5 million on $243 million of net revenue for
the year ended Dec. 31, 2014.  As of Dec. 31, 2015, Aurora
Diagnostics had $263 million in total assets, $453 million in total
liabilities and a $191 million total members' deficit.

                             *   *   *

As reported by the Troubled Company Reporter on April 14, 2016,
Moody's Investors Service downgraded the Corporate Family Rating of
Aurora Diagnostics Holdings, LLC to Caa3 from Caa2 and the
Probability of Default Rating to Caa3-PD from Caa2-PD.  The
downgrade reflects Moody's heightened expectation that Aurora
will pursue some transaction within the next 12 months which the
rating agency would consider a default.  This could include a
transaction which Moody's considers a distressed debt exchange, or
a bankruptcy filing.

Aurora Diagnostic carries a 'CCC+' corporate credit rating from
Standard & Poor's Ratings Services.


AURORA DIAGNOSTICS: Incurs $7.59 Million Net Loss in First Quarter
------------------------------------------------------------------
Aurora Diagnostics Holdings, LLC, filed with the Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing a
net loss of $7.59 million on $68.8 million of net revenue for the
three months ended March 31, 2016, compared to a net loss of $9.37
million on $59.5 million of net revenue for the same period in
2015.

As of March 31, 2016, Aurora Diagnostics had $258 million in total
assets, $456 million in total liabilities and a member's deficit of
$198 million.

"Since inception, we have primarily financed operations through
capital contributions from our equityholders, long-term debt
financing and cash flow from operations.  We require significant
cash flow to service our debt obligations.  Reductions in
reimbursement from Medicare and other payors in recent years have
had a significant negative impact on our cash flows.  As of March
31, 2016, we had $30.0 million available under our revolving credit
facility for general operations.  Our management believes our $13.4
million of cash and cash equivalents, together with cash from
operations and the amount available under our revolving credit
facility, will be sufficient to fund our working capital
requirements through March 31, 2017.  In order to access the
amounts available under our revolving credit facility, we must meet
the financial tests and ratios contained in our senior secured
credit facility. Our management currently expects to meet these
financial tests and ratios at least through March 31, 2017. We may
undertake acquisitions which our management believes would add to
earnings and performance with respect to the credit facility
covenants.  Nonetheless, we may not achieve all of our business
goals and objectives and events beyond our control could affect our
ability to meet these financial tests and ratios and limit our
ability to access the amounts otherwise available under our
revolving credit facility."

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

                      https://is.gd/pUZDIc

                    About Aurora Diagnostics

Headquartered in Palm Beach Gardens, Florida, Aurora Diagnostics
Holdings, LLC, through its subsidiaries, provides physician-based
general anatomic and clinical pathology, dermatopathology,
molecular diagnostic services and other esoteric testing services
to physicians, hospitals, clinical laboratories and surgery
centers.  The company recognized approximately $260 million in
revenue for the 12 months ended June 30, 2013.  The company is
majority owned by equity sponsors KRG Capital Partners and Summit
Partners.

Aurora Diagnostics reported a net loss of $83.4 million on $264
million of net revenue for the year ended Dec. 31, 2015, compared
to a net loss of $55.5 million on $243 million of net revenue for
the year ended Dec. 31, 2014.

                             *   *   *

As reported by the Troubled Company Reporter on April 14, 2016,
Moody's Investors Service downgraded the Corporate Family Rating of
Aurora Diagnostics Holdings, LLC to Caa3 from Caa2 and the
Probability of Default Rating to Caa3-PD from Caa2-PD.  The
downgrade reflects Moody's heightened expectation that Aurora
will pursue some transaction within the next 12 months which the
rating agency would consider a default.  This could include a
transaction which Moody's considers a distressed debt exchange, or
a bankruptcy filing.

Aurora Diagnostic carries a 'CCC+' corporate credit rating from
Standard & Poor's Ratings Services.


BEEKMAN LIQUORS: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Beekman Liquors, Inc.
        500 Lexington Avenue
        New York, NY 10017

Case No.: 16-11370

Chapter 11 Petition Date: May 13, 2016

Court: United States Bankruptcy Court
       Southern District of New York (Manhattan)

Judge: Hon. Martin Glenn

Debtor's Counsel: Bruce R. Alter, Esq.
                  ALTER & BRESCIA, LLP
                  550 Mamaroneck Avenue
                  Harrison, NY 10528
                  Tel: (914) 670-0030
                  Fax: (914) 670-0031
                  E-mail: altergold@aol.com
                          info@altergoldlaw.com

Estimated Assets: $500,000 to $1 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by David Frieser, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/nysb16-11370.pdf


BERRY PLASTICS: Posts $59 Million Net Income for April 2 Quarter
----------------------------------------------------------------
Berry Plastics Group, Inc., filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing
consolidated net income of $59 million on $1.61 billion of net
sales for the quarterly period ended April 2, 2016, compared to
consolidated net income of $38 million on $1.22 billion of net
sales for the quarterly period ended March 28, 2015.

For the two quarterly periods ended April 2, 2016, Berry Plastics
reported consolidated net income of $63 million on $3.22 billion of
net sales compared to consolidated net income of $51 million on
$2.44 billion of net sales for the two quarterly periods ended
March 28, 2015.

As of April 2, 2016, Berry Plastics had $7.79 billion in total
assets, $7.72 billion in total liabilities, $12 million in
redeemable non-controlling interest and $66 million in total
stockholders' equity.

"During the quarter we achieved record net sales and operating
EBITDA and continued our work integrating the Avintiv acquisition.
This quarter marked one of the best we have ever had.  Our results
during the quarter were driven by improved volumes in many of our
businesses, our initiatives to reduce material and overhead costs
within operations, and a strong focus on execution of synergies. We
continue to be very pleased with the Avintiv acquisition that has
accelerated our growth while leading to new business opportunities
with global consumer packaged goods companies," said Jon Rich,
Chairman and CEO of Berry Plastics.

"Given the strong start to our first half we are now increasing our
operating EBITDA guidance for the 2016 fiscal year to $1,190
million.  The benefits we anticipated from the Avintiv acquisition
are on track and exceeding initial estimates allowing us to
increase our synergy target to $80 million.  Today, we are
reaffirming our fiscal 2016 adjusted free cash flow guidance of
$475 million.  The estimate includes cash flow from operating
activities of $817 million less $285 million of net additions to
property, plant, and equipment and the $57 million tax receivable
agreement payment made in October 2015." stated Rich.


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

                     https://is.gd/UtO1yr

                     About Berry Plastics

Berry Plastics Corporation manufactures and markets plastic
packaging products, plastic film products, specialty adhesives and
coated products.  At Jan. 2, 2010, the Company had more than 80
production and manufacturing facilities, primarily located in the
United States.  Berry is a wholly-owned subsidiary of Berry
Plastics Group, Inc.  Berry Group is primarily owned by affiliates
of Apollo Management, L.P., and Graham Partners.  Berry, through
its wholly owned subsidiaries operates five reporting segments:
Rigid Open Top, Rigid Closed Top, Flexible Films, Tapes/Coatings
and Specialty Films.  The Company's customers are located
principally throughout the United States, without significant
concentration in any one region or with any one customer.

On Dec. 3, 2009, Berry Plastics obtained control of 100 percent of
the capital stock of Pliant upon Pliant's emergence from
reorganization pursuant to a proceeding under Chapter 11 for a
purchase price of $602.7 million.  Pliant is a manufacturer of
films and flexible packaging for food, personal care, medical,
agricultural and industrial applications.

Berry Plastics reported net income attributable to the Company of
$86 million on $4.88 billion of net sales for the year ended Sept.
26, 2015, compared to net income of $62 million on $4.95 billion of
net sales for the year ended Sept. 27, 2014.  

As reported by the TCR on Jan. 30, 2015, Moody's Investors Service
upgraded the corporate family rating of Berry Plastics to 'B1' from
'B2'.  The upgrade of the corporate family rating reflects the
pro-forma benefits from the recent restructuring and acquisitions.

The TCR reported on Feb. 23, 2016, that Standard & Poor's Ratings
Services raised its corporate credit rating on Berry Plastics Group
Inc. to 'BB-' from 'B+' and the issue-level ratings on the
company's first-lien term loan and second-lien secured notes to
'BB' and 'B+', from 'BB-' and 'B' respectively. The outlook is
positive.

                           *    *     *

This concludes the Troubled Company Reporter's coverage of Berry
Plastics Group, Inc. until facts and circumstances, if any, emerge
that demonstrate financial or operational strain or difficulty at a
level sufficient to warrant renewed coverage.


BHAVDARSHAN INC: Taps David T. Cain as Bankruptcy Counsel
---------------------------------------------------------
Bhavdarshan, Inc., asks the U.S. Bankruptcy Court for the Western
District of Texas to employ David T. Cain, attorney at law, who has
an office in San Antonio, Texas, as attorney for the
Debtor-in-Possession in this Chapter 11 case.

Mr. Cain will:

      a. advise the Applicant as to its rights, duties and powers
         as a debtor-in-possession;

      b. prepare and file any statements, schedules, plans and
         other documents or pleadings to be filed by the Debtor in

         this case;

      c. represent the Applicant at all hearings, meetings of
         creditors, conferences, trials, and other proceedings in
         this case; and

      d. perform such other legal services as may be necessary in
         connection with this case.

The Debtor proposes to compensate Mr. Cain at the rate of $300 per
hour subject to the approval of the Court after rendering of the
services.

The Debtor assures the Court that Mr. Cain has no connection with
the Debtor, creditors, or any other party in interest, or their
respective attorneys or accountants, except that Mr. Cain is
acquainted with the Debtor's management, and is familiar with the
Debtor's business operation and financial affairs, and that Mr.
Cain does not hold or represent an interest adverse to the estate
with respect to the matters on which the attorney is employed, and
that the employment of the attorney is in the best interest of the
estate.

Headquartered in Pearsall, Texas, Bhavdarshan, Inc., d dba Outlaw
Bar & Grill, filed for Chapter 11 bankruptcy protection (Bankr.
W.D. Tex. Case No. 16-51026) on May 2, 2016, estimating its assets
at up to $50,000 and liabilities at between $1 million and $10
million.  The petition was signed by Hemant Patel, president.
Judge Ronald B. King presides over the case.

David T. Cain, Esq., at the Law Office of David T. Cain serves as
the Debtor's bankruptcy counsel.

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


BILL BARRETT: Wasatch Advisors Reports 2.98% Stake
--------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission on May 10, 2016, Wasatch Advisors, Inc. disclosed that
it beneficially owns 1,498,636 shares of common stock of Bill
Barrett Corp. representing 2.98 percent of the shares outstanding.
A copy of the regulatory filing is available for free at:

                     https://is.gd/DnvsVX

                       About Bill Barrett

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

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

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


BIND THERAPEUTICS: Hires Cowen as Investment Banker
---------------------------------------------------
Bind Therapeutics, Inc., et al., seek authority from the U.S.
Bankruptcy Court for the District of Delaware to employ Cowen and
Company, LLC as investment banker to the Debtors, nunc pro tunc to
May 1, 2016.

BIND Therapeutics requires Cowen to:

   -- review and analyze the Company's operations, properties,
      financial condition and prospects;

   -- assist the Company in evaluating potential Transaction
      alternatives and strategies;

   -- assist the Company in preparing documentation within
      Cowen's area of expertise that is required in connection
      with a Transaction;

   -- assist the Company in identifying financial and/or
      strategic institutional investors or other investors
      ("Interested Parties") who may be interested in
      participating in a Transaction;

   -- on behalf of the Company, contact Interested Parties which
      Cowen, after consultation with the Company's management,
      believes meet certain industry, financial and strategic
      criteria and assist the Company in negotiating and
      structuring a Transaction;

   -- advise the Company as to potential mergers or acquisitions,
      and the sale or other disposition of any of the Company's
      businesses or assets;

   -- advise the Company on the timing, nature and terms of any
      new securities, other considerations or other inducements
      to be offered in connection with any Transaction; and

   -- participate in the Company's board of directors meetings as
      determined by the Company to be appropriate, and, upon
      request, provide periodic status reports and advice to the
      board with respect to matters falling within the scope of
      Cowen's retention.

Cowen will be paid:

   (a)  Monthly Advisory Fee: A fee of $60,000 (a "Monthly
        Fee") shall be payable upon execution of the Engagement
        Letter. The next Monthly Fee shall be payable on June 1,
        2016 and Monthly Fees shall be payable thereafter on the
        first every month. In addition, Cowen has not yet been
        paid the Monthly Fee for May 2016. If the Monthly Fees
        paid are greater than $240,000 in the aggregate, then any
        amount paid over $240,000 shall be credited to the first
        Restructuring Fee or Sale Fee payable.

   (b)  Financing Transaction Fee: A fee (a "Financing Fee")
        payable at each closing of a Financing equal to the
        applicable percentage set forth below of the gross
        proceeds received by the Company and/or aggregate
        principal amount (as applicable) of any Financing
        actually funded to the Company (which, for the avoidance
        of doubt, shall not include any original issue discount)
        in connection with such Financing: 6.0% for equity or
        equity-linked securities, provided, however, that Cowen
        agrees that the Company may engage additional investment
        banks to assist with an equity or equity-linked
        Financing, and in such a case the total Financing Fee
        payable to all investment banks shall be 6.0% of gross
        proceeds and Cowen's portion of such fee shall be no less
        than 70%; 4.0% for debt with proceeds to the Company,
        reduced to 2.0% to the extent the debt is raised from an
        existing lender. In the event of a Financing that occurs
        during the Company's Chapter 11 process, including a DIP
        Financing, the Financing Fee for such Financing shall be
        credited to the Restructuring Fee.

   (c)  Restructuring Fee: A fee equal to U.S. $1,500,000, less
        any amounts creditable against such fee in accordance
        with the Engagement Letter (a "Restructuring Fee"),
        payable upon the consummation of a Restructuring.

   (d)  Fairness Opinion Fee: A fee of U.S. $500,000 due and
        payable when Cowen informs the Company's Board of
        Directors that it is prepared to render the first
        requested Opinion, and which fee will be due to Cowen
        without regard to whether the proposed Sale is ultimately
        consummated. The first Fairness Opinion Fee shall be
        credited against the Sale Fee payable as described below
        or a Restructuring Fee. The Company agrees to pay Cowen a
        fee to be mutually agreed upon for any subsequent Opinion
        requested by the Company's Board of Directors. Any
        Fairness Opinion Fee(s) payable for any subsequent
        Opinion(s) shall not be credited against any fees due and
        payable under the Engagement Letter.

   (e)  Sale Fee: A fee (a "Sale Fee") payable upon consummation
        of any Sale, equal to the greater of (i) $1,000,000 if
        the Sale occurs outside of a Chapter 11 process, or
        $1,500,000 if the Sale occurs pursuant to a Chapter 11
        process, and (ii) 2.5% of the Aggregate Consideration (as
        defined below) of such Sale. The Sale Fee shall be
        credited to the Restructuring Fee.

        As used in the Engagement Letter, "Aggregate
        Consideration" shall mean the total fair market value
        (determined at the closing of the Sale) of all
        consideration paid or payable, or otherwise to be
        distributed to, or received by, directly or indirectly,
        the Company, its bankruptcy estate, its creditors and/or
        its securityholders in connection with a Sale, including
        all (i) cash, securities and other property and (ii) debt
        assumed, satisfied or paid by a purchaser or which
        remains outstanding at the closing of a Sale (including,
        without limitation, the amount of any indebtedness
        "credit bid" in any Sale) and any other indebtedness and
        obligations, including tax claims, that will actually be
        paid, satisfied or assumed by a purchaser from the
        Company or the securityholders of the Company, provided
        that Aggregate Consideration shall include any amounts
        placed in escrow or deferred contingent or installment
        payments but the Sale Fee shall be payable by the Company
        only upon the release and payment of such amounts to the
        Company or its creditors or securityholders.

   (f)  The Company and Cowen acknowledge and agree that more
        than one fee may be payable to Cowen under paragraphs
        (b), (c) and (d) above, in connection with any single
        transaction or series of transactions, it being
        understood and agreed that if more than one fee becomes
        so payable to Cowen, each such fee shall be paid to
        Cowen, subject to the application of all amounts
        creditable to the fees payable under the terms of the
        Engagement Letter. Notwithstanding the foregoing, in no
        event will the Company or any successor to the Company
        (including after a Restructuring or a Sale) owe any fees
        to Cowen for any transaction after such Restructuring or
        Sale.

Cowen will also be reimbursed for up to $50,000 of documented
reasonable out-of-pocket expenses incurred.

Lorie R. Beers, Managing Directors of Cowen and Company, LLC
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.

Cowen can be reached at:

     Lorie R. Beers
     COWEN AND COMPANY, LLC
     599 Lexington Avenue,
     New York, NY 10022
     Tel: (646) 562-1000

                   About BIND Therapeutics

BIND Therapeutics is a biotechnology company developing novel
targeted therapeutics, primarily for the treatment of cancer.

BIND Therapeutics, Inc., aka BIND Biosciences, Inc., and BIND
Biosciences Security Corporation filed for Chapter 11 bankruptcy
protection (Bankr. D. Del. Case Nos. 16-11084 and 16-11085) on May
1, 2016.

Peter M. Gilhuly, Esq., Kimberly A. Posin, Esq., and Adam E.
Malatesta, Esq., at Latham & Watkins LLP, and John Henry Knight,
Esq., and Amanda R. Steele, Esq., at Richards, Layton & Finger,
P.A., serve as Chapter 11 counsel.

The Debtors' financial advisor is Cowen and Company, LLC.  Prime
Clerk LLC serves as claims and noticing agent.  In its petition,
the Debtors estimated $10 million to $50 million in both assets
and
liabilities.

The petitions were signed by Andrew Hircsh, president and chief
executive officer.


BIND THERAPEUTICS: Hires Latham & Watkins as Bankr. Co-Counsel
--------------------------------------------------------------
Bind Therapeutics, Inc., et al., seek authority from the U.S.
Bankruptcy Court for the District of Delaware to employ Latham &
Watkins LLP as bankruptcy co-counsel to the Debtors, nunc pro tunc
to May 1, 2016.

BIND Therapeutics requires L&W 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. attend meetings and negotiate with representatives of
      creditors, interest holders, and other parties in interest;

   c. analyze proofs of claim filed against the Debtors and
      potential objections to such claims;

   d. analyze executory contracts and unexpired leases and
      potential assumptions, assignments, or rejections of such
      contracts and leases;

   e. take all necessary action 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' interests in
      negotiations concerning litigation in which the Debtors are
      involved, including objections to claims filed against the
      estates;

   f. prepare motions, applications, answers, orders, reports,
      and papers necessary to the administration of the Debtors'
      estates;

   g. take necessary action on behalf of the Debtors to
      negotiate, prepare, and obtain approval of a disclosure
      statement and confirmation of a plan of reorganization;

   h. advise the Debtors in connection with any potential sale of
      assets or stock and taking necessary action to guide the
      Debtors through such potential sale;

   i. appear before the Bankruptcy Court or any Appellate Courts
      and protecting the interests of the Debtors' estates before
      those Courts and the United States Trustee (the "U.S.
      Trustee");

   j. advise on corporate, litigation, environmental, finance,
      tax, employee benefits, and other legal matters; and

   k. perform all other necessary legal services for the Debtors
      in connection with the Chapter 11 Cases.

L&W will be paid at these hourly rates:

     Partners                       $925 - $1,595

     Counsel                        $915 - $1,575

     Associates                     $395 - $1,205

     Paraprofessionals              $200 - $630

The Debtors paid L&W a total of approximately $1,621,692.42 4
during the 90-day period prior to the Debtors' bankruptcy filing. A
summary of those prepetition payments made by the Debtors to L&W is
below:

   -- on December 31, 2015, L&W provided the Debtors with an
      invoice for services performed and expenses incurred in the
      aggregate amount of $53,938.00, which the Debtors paid in
      full on February 1, 2016.

   -- on January 31, 2016, L&W provided the Debtors with an
      invoice for services performed and expenses incurred in the
      aggregate amount of $39,986.76, which the Debtors paid in
      full on March 14, 2016.

   -- on March 11, 2016, the Debtors provided L&W with a retainer
      for the advance payment of subsequent invoices (the
      "Retainer") in the amount of $500,000.00.

   -- on February 28, 2016, L&W provided the Debtors with an
      invoice for services performed and expenses incurred in the
      aggregate amount of $149,286.00. On March 31, 2016, L&W
      drew $149,286.00 from the Retainer as payment in full.

   -- on March 31, 2016, L&W provided the Debtors with an invoice
      for services performed and expenses incurred in the
      aggregate amount of $414,204.00. On March 31, 2016, L&W
      drew $350,714.50 from the Retainer and on April 20, 2016
      L&W drew $63,489.11 as payment in full.

   -- on April 20, 2016, the Debtors replenished the Retainer
      with an additional $563,489.11.

   -- on April 29, 2016, the Debtors replenished the Retainer
      with an additional $464,278.55.

   -- on or about April 30, 2016, L&W provided the Debtors with
      invoices for services performed or to be performed and
      expenses incurred in the aggregate amount of $441,507.00,
      which was drawn from the Retainer.

The amount of the Retainer that remained as of the Petition Date
was approximately $500,000.00.

As of the Petition Date, the Debtors did not owe L&W any amounts
for legal services rendered before the Petition Date. During the
one year prior to the Petition Date, L&W received approximately
$2,173,307.23 5 in total compensation from the Debtors for fees and
expenses. In addition, as provided above, in the 90 days prior to
the Petition Date, L&W received approximately $1,621,692.42 in
total compensation from the Debtors for fees and expenses.

L&W will also be reimbursed for reasonable out-of-pocket expenses
incurred.

Peter M. Gilhuly, partner in the firm of Latham & Watkins 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.

L&W can be reached at:

     Peter M. Gilhuly, Esq.
     LATHAM & WATKINS LLP
     355 South Grand Avenue
     Los Angeles, CA 90071-1560
     Tel: (213) 485-1234
     Fax: (213) 891-8763
     Email: peter.gilhuly@lw.com

                   About BIND Therapeutics

BIND Therapeutics is a biotechnology company developing novel
targeted therapeutics, primarily for the treatment of cancer.

BIND Therapeutics, Inc., aka BIND Biosciences, Inc., and BIND
Biosciences Security Corporation filed for Chapter 11 bankruptcy
protection (Bankr. D. Del. Case Nos. 16-11084 and 16-11085) on May
1, 2016.

Peter M. Gilhuly, Esq., Kimberly A. Posin, Esq., and Adam E.
Malatesta, Esq., at Latham & Watkins LLP, and John Henry Knight,
Esq., and Amanda R. Steele, Esq., at Richards, Layton & Finger,
P.A., serve as Chapter 11 counsel.

The Debtors' financial advisor is Cowen and Company, LLC.  Prime
Clerk LLC serves as claims and noticing agent.  In its petition,
the Debtors estimated $10 million to $50 million in both assets and
liabilities.

The petitions were signed by Andrew Hircsh, president and chief
executive officer.


BIND THERAPEUTICS: Hires Prime Clerk as Administrative Advisor
--------------------------------------------------------------
Bind Therapeutics, Inc., et al., seek authority from the U.S.
Bankruptcy Court for the District of Delaware to employ Prime Clerk
LLC as administrative advisor to the Debtors, nunc pro tunc to May
1, 2016.

BIND Therapeutics requires Prime Clerk to:

   (a) assist with, among other things, solicitation, balloting
       and tabulation of votes, and prepare any related reports,
       as required in support of confirmation of a chapter 11
       plan, and in connection with such services, process
       requests for documents from parties in interest,
       including, if applicable, brokerage firms, bank back-
       offices and institutional holders;

   (b) prepare an official ballot certification and, if
       necessary, testify in support of the ballot tabulation
       results;

   (c) assist with the preparation of the Debtors' schedules of
       assets and liabilities and statements of financial affairs
       and gather data in conjunction therewith;

   (d) provide a confidential data room, if requested;

   (e) manage and coordinate any distributions pursuant to a
       chapter 11 plan; and

   (f) provide other processing, solicitation, balloting and
       other administrative services described in the Engagement
       Agreement, but not included in the Section 156(c)
       Application, as may be requested from time to time by the
       Debtors, the Court or the Office of the Clerk of the
       Bankruptcy Court.

Prime Clerk will be paid at these hourly rates:

     Claim and Noticing Rates

       Analyst                           $30-$45
       Technology Consultant             $65-$95
       Consultant/Senior Consultant      $70-$165
       Director                          $170-$190
       Michael J. Frishberg              No charge

     Solicitation, Balloting and Tabulation Rates

       Solicitation Consultant           $185
       Director of Solicitation          $210

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

Michael J. Frishberg, Co-President and Chief Operating Officer of
Prime Clerk LLC, 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.

Prime Clerk can be reached at:

     Michael J. Frishberg
     PRIME CLERK LLC
     830 3rd Avenue, 9th Floor
     New York, NY 10022
     Tel: (212) 257-5450
     Fax: (212) 257-5452

                   About BIND Therapeutics

BIND Therapeutics is a biotechnology company developing novel
targeted therapeutics, primarily for the treatment of cancer.

BIND Therapeutics, Inc., aka BIND Biosciences, Inc., and BIND
Biosciences Security Corporation filed for Chapter 11 bankruptcy
protection (Bankr. D. Del. Case Nos. 16-11084 and 16-11085) on May
1, 2016.

Peter M. Gilhuly, Esq., Kimberly A. Posin, Esq., and Adam E.
Malatesta, Esq., at Latham & Watkins LLP, and John Henry Knight,
Esq., and Amanda R. Steele, Esq., at Richards, Layton & Finger,
P.A., serve as Chapter 11 counsel.

The Debtors' financial advisor is Cowen and Company, LLC.  Prime
Clerk LLC serves as claims and noticing agent.  In its petition,
the Debtors estimated $10 million to $50 million in both assets and
liabilities.

The petitions were signed by Andrew Hircsh, president and chief
executive officer.


BIND THERAPEUTICS: Hires Richards Layton as Co-Counsel
------------------------------------------------------
Bind Therapeutics, Inc., et al., seek authority from the U.S.
Bankruptcy Court for the District of Delaware to employ Richards
Layton & Finger, P.A. as co-counsel to the Debtors, nunc pro tunc
to May 1, 2016.

BIND Therapeutics requires Richards Layton to:

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

   b) advise the Debtors of their rights, powers, and duties as
      debtors and debtors in possession under Chapter 11 of the
      Bankruptcy Code;

   c) prepare on behalf of the Debtors, as debtors in possession,
      all necessary motions, applications, answers, orders,
      reports, and other papers in connection with the
      administration of the Debtors' estates and serve such
      papers on creditors;

   d) take all necessary or appropriate actions in connection
      with a plan or plans of reorganization and related
      disclosure statement(s) and all related documents, and such
      further actions as may be required in connection with the
      administration of the Debtors' estates; and

   e) perform all other necessary legal services in connection
      with the prosecution of the Chapter 11 Cases.

Richards Layton will be paid at these hourly rates:

     John H. Knight              $750
     Amanda R. Steele            $465
     Brett M. Haywood            $295
     Caroline Dougherty          $240
     Cynthia McMenamin           $240
     Partners                    $610-$850
     Counsel                     $535-$550
     Associates                  $296-$510
     Paraprofessionals           $240

Prior to the Petition Date, Richards Layton rendered legal services
to the Debtors in connection with the Debtors' Chapter 11 filing.
Since March 15, 2016, Richards Layton has received a total of
$108,000 in retainer monies to cover fees and expenses actually
incurred, as well as anticipated to occur, prior to the
commencement of these bankruptcy cases.

Throughout Richards Layton's representation of the Debtors prior to
the Petition Date, Richards Layton applied such amounts to its
invoices for work performed and expenses incurred in connection
with Richards Layton's representation of the Debtors. Prior to the
Petition Date, Richards Layton drew down the entire amount of the
Retainer on account of services performed and in anticipation of
services to be performed.

After the Petition Date (i.e., on May 5, 2016), Richards Layton
performed a final reconciliation of the fees and expenses actually
incurred and found that such amount totaled $40,130.06.
Thereafter, the difference between the Retainer amount drawn down
by Richards Layton prior to the Petition Date and the Prepetition
Fees and Expenses (i.e., $67,869.94) was returned to the Debtors'
retainer account.

The Debtors request -- and Richards Layton's engagement letter with
the Debtors requires -- that the retainer monies paid to Richards
Layton and not expended for prepetition services and disbursements
be treated as an evergreen retainer to be held by Richards Layton
as security throughout the Chapter 11 Cases until Richards Layton's
fees and expenses are awarded by final order and payable to
Richards Layton.

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

John H. Knight, attorney and director of the firm of Richards
Layton & Finger, P.A., assured the Court that the firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code and does not represent any interest adverse to
the Debtors and their estates.

Richards Layton can be reached at:

     John H. Knight, Esq.
     RICHARDS LAYTON & FINGER, P.A.
     One Rodney Square
     920 North King Street
     Wilmington, DE 19801
     Telephone: (302) 651-7700
     Facsimile: (302) 651-7701
     Email: knight@rlf.com

                   About BIND Therapeutics

BIND Therapeutics is a biotechnology company developing novel
targeted therapeutics, primarily for the treatment of cancer.

BIND Therapeutics, Inc., aka BIND Biosciences, Inc., and BIND
Biosciences Security Corporation filed for Chapter 11 bankruptcy
protection (Bankr. D. Del. Case Nos. 16-11084 and 16-11085) on May
1, 2016.

Peter M. Gilhuly, Esq., Kimberly A. Posin, Esq., and Adam E.
Malatesta, Esq., at Latham & Watkins LLP, and John Henry Knight,
Esq., and Amanda R. Steele, Esq., at Richards, Layton & Finger,
P.A., serve as Chapter 11 counsel.

The Debtors' financial advisor is Cowen and Company, LLC.  Prime
Clerk LLC serves as claims and noticing agent.  In its petition,
the Debtors estimated $10 million to $50 million in both assets and
liabilities.

The petitions were signed by Andrew Hircsh, president and chief
executive officer.


BREITBURN ENERGY: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor affiliates filing separate Chapter 11 bankruptcy petitions:

        Debtor                                    Case No.
        ------                                    --------
        Breitburn Energy Partners, LP             16-11390
           fka BreitBurn Energy Partners L.P.
        707 Wilshire Boulevard
        Suite 4600, CA 90017

        Breitburn Operating, LP                   16-11385
        Breitburn Operating GP LLC                16-11389
        Breitburn Management Company LLC          16-11391
        Breitburn Finance Corporation             16-11393
        Breitburn GP LLC                          16-11394
        Breitburn Sawtelle LLC                    16-11395
        Breitburn Oklahoma LLC                    16-11396
        Phoenix Production Company                16-11397
        QR Energy, LP                             16-11398
        QRE GP, LLC                               16-11399
        QRE Operating, LLC                        16-11400
        Breitburn Transpetco LP LLC               16-11401
        Breitburn Transpetco GP LLC               16-11402
        Transpetco Pipeline Company, L.P.         16-11403
        Terra Energy Company LLC                  16-11404
        Terra Pipeline Company LLC                16-11405
        Breitburn Florida LLC                     16-11406
        Mercury Michigan Company, LLC             16-11407
        Beaver Creek Pipeline, L.L.C.             16-11408
        GTG Pipeline LLC                          16-11409
        Alamitos Company                          16-11410

Type of Business: Breitburn Energy Partners LP and its wholly-
                  owned direct and indirect subsidiaries are an
                  independent oil and gas partnership engaged in
                  the acquisition, exploitation and development of
                  properties in the United States that bear oil,
                  natural gas, and "NGL," a combination of ethane,
                  propane, butane and natural gasolines that when
                  removed from natural gas become liquid under
                  various levels of higher pressure and lower
                  temperature.

Chapter 11 Petition Date: May 15, 2016

Court: United States Bankruptcy Court
       Southern District of New York (Manhattan)

Judge: Hon. Stuart M. Bernstein

Debtors' Counsel: Ray C Schrock, Esq.
                  Stephen Karotkin, Esq.
                  WEIL GOTSHAL & MANGES LLP
                  767 Fifth Avenue
                  New York, NY 10153
                  Tel: 212-310-8000
                  Fax: 212-310-8000
                  Email: ray.schrock@weil.com
                         stephen.karotkin@weil.com


Debtors'          ALVAREZ & MARSAL NORTH AMERICA, LLC
Financial
Advisor:

Debtors'          LAZARD FRERES & CO. LLC
Investment
Banker:

Debtors'          PRIME CLERK LLC
Claims and
Noticing
Agent:

Total Assets: $4.7 billion as of March 31, 2016

Total Debts: $3.4 billion as of March 31, 2016

The petition was signed by James G. Jackson, executive vice
president and chief financial officer.

Consolidated List of Debtors' 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Wilmington Trust Company            7.875% Senior    $889,057,111
Rodney Square North                Notes Due 2020
1100 North Market Street
Wilmington, DE 19890-1600
Steven M. Cimalore
Fax: (302) 651-14149

Wilmington Trust Company            8.625% Senior    $320,349,335
Rodney Square North                Notes Due 2020
1100 North Market Street
Wilmington, DE 19890-1600
Steven M. Cimalore
Fax: (302) 651-4149

Oxy USA Inc.                          Trade Debt       $1,355,260
5 Greenway Plaza, Suite 110
Houston, TX 77046
William E. Albrecht
Tel: 713-215-7000
Fax: 713-215-7524

Wadeco Specialties                    Trade Debt       $1,066,744
8115 W Industrial Ave.
Odessa, TX 79765
Wade Havens
Email: info@wadecospecialties.com
Tel: 432-563-4340

Baker Hughes Business Support            Trade Debt      $733,396
Services
2929 Allen Parkway
Suite 2100
Houston, TX 77019-2118
Martin Craighead
Email: martin.craighead@bakerhughes.com
Tel: 713-439-8600
Fax: 713-439-8699

Schlumberger Technology Corporation      Trade Debt      $411,870
2340 I-35 W
Denton, TX 76207
Paal Kibsgaard
Email: pkibsgaard@slb.com
Tel: 940-783-4600
Fax: 940-783-4630

Pipeco Services LP dba Pipeco Services   Trade Debt      $336,952
20465 State Hwy 249, Suite 200
Houston, TX 77070
Steve Tait
Email: stait@pipeco.com
Tel: 281-955-3500
Fax: 281-955-3525

McVay Drilling Company                   Trade Debt      $330,268
401 Eat Bender
PO Box 2450
Hobbsm NM 88241
Tel: 575-397-3311
Fax: 575-393-7455

Archrock Partners                        Trade Debt      $197,105

Compressco Partners L.P.                 Trade Debt      $148,750

XTO Energy Inc.                          Trade Debt      $148,689

Oil Well Service Company                 Trade Debt      $136,355

Cudd Pressure Control Inc                Trade Debt      $126,100

Basic Energy Services LP                 Trade Debt      $125,375
Email: info@basicenergyservices.com

C & J Spec Rent Services Inc.            Trade Debt      $122,621

Transmontaigne Partners LP               Trade Debt      $109,500
Email: fboutin@transmontaigne.com

Badger Fishing and Rental LLC            Trade Debt      $105,818

Total Energy Services                    Trade Debt      $105,611
Email: simon@totalenergyservices.us

Freda's Trucking Services, LLC           Trade Debt      $103,965
Email: fredastruckingservice@yahoo.com

Gesch Contracting Inc.                   Trade Debt      $100,709


BREITBURN ENERGY: Court Orders Joint Administration of Cases
------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of New York has
entered an order consolidating for procedural purposes only and
jointly administering the Chapter 11 cases of Breitburn Energy
Partners LP under Case No. 16-11390 (SMB).

In a motion filed with the Court, the Debtors requested joint
administration of their cases to avoid the need to prepare,
replicate, file, and serve duplicative notices, applications, and
orders in each of the 22 Debtor cases.  The Debtors said joint
administration will save them and their estates substantial time
and expense and relieve the Court of entering duplicative orders
and maintaining duplicative files and dockets.

                      About Breitburn Energy

Breitburn Energy Partners, LP, et al., are an independent oil and
gas partnership engaged in the acquisition, exploitation and
development of oil and natural gas properties, Midstream Assets,
and a combination of ethane, propane, butane and natural gasolines
that when removed from natural gas become liquid under various
levels of higher pressure and lower temperature, in the United
States.  The Debtors conduct their operations through Breitburn
Parent's wholly-owned subsidiary, Breitburn Operating LP, and
BOLP's general partner, Breitburn Operating GP LLC.

As of the Petition Date, the Debtors operate, or have working
interests in approximately 11,900 gross operating oil and gas
wells, and 7,921 net oil and gas wells.  The Debtors own interests
in approximately 705,597 net acres and had estimated proved
reserves, as of Dec. 31, 2015, of 239.3 million barrels of oil
equivalent of which approximately 54% was oil, 8% was NGLs, and 38%
was natural gas.  The Debtors maintain operational control over
approximately 91% of their proved reserves.  The Debtors'
production in 2015 was 20.8 million barrels of oil equivalent, of
which approximately 56% was oil, 9% was NGLs and 35% was natural
gas.

Breitburn Energy Partners LP 21 of its affiliates filed voluntary
petitions for relief under Chapter 11 of the Bankruptcy Code in the
U.S. Bankruptcy Court for the Southern District of New York on May
15, 2016, listing assets of $4.71 billion and liabilities of $3.41
billion.

The Debtors have engaged Weil Gotshal & Manges LLP as counsel,
Alvarez & Marsal North America, LLC as financial advisor,
Lazard Freres & Co. LLC as investment banker, and Prime Clerk LLC
as claims and noticing agent.

The cases are pending before the Honorable Stuart M. Bernstein and
are jointly administered under Case No. 16-11390.


BREITBURN ENERGY: Files for Ch. 11 to Facilitate Restructuring
--------------------------------------------------------------
Breitburn Energy Partners LP 21 of its affiliates filed voluntary
petitions for relief under Chapter 11 of the Bankruptcy Code in the
U.S. Bankruptcy Court for the Southern District of New York, citing
the persistent and severely distressed market conditions in the oil
and gas industry.

Hal Washburn, chief executive officer, said in a press release,
"The prolonged decline in commodity prices that began in 2014 has
placed significant financial stress on today's oil and gas
industry.  Our long-lived, low-decline portfolio of diverse assets
continues performing in line with our expectations, but the current
outlook for commodity prices makes our existing debt burden
unsustainable. Taking this action now gives us flexibility in
maximizing the value of the ongoing business."  

Despite efforts to initiate a series of financial and operational
actions, the Debtors said their revenue and cash flow generating
capacity is not sufficient to service their outstanding debt on a
long-term basis and to maintain the liquidity necessary to operate
their business and preserve their long-term viability and
enterprise value.

"The Debtors believe that the chapter 11 process will not only
assure the Debtors' continued access to sufficient liquidity
necessary to maximize enterprise value but also will provide a
forum to continue the restructuring negotiations in an atmosphere
most conducive to achieving a successful result," said James G.
Jackson, chief financial officer and executive vice president of
Breitburn GP LLC, in a declaration filed with the Court.

For the fiscal year ended Dec. 31, 2015, the Debtors' total
operating revenues were approximately $1.1 billion, representing a
22% decrease in operating revenues year over year.

As of March 31, 2016, the Debtors reported assets of $4.71 billion
and liabilities of $3.41 billion.  The Debtors recorded a
consolidated net loss after taxes of $2.6 billion for fiscal 2015
and a consolidated net loss of $115 million in the first quarter of
2016.  As of the Petition Date, the Debtors have approximately $3
billion in total funded debt outstanding.

The Debtors estimate that, as of the Petition Date, their
outstanding trade payables are approximately $50 million.

Last month, the Debtors missed a $46.7 million in interest payments
due to be paid under the two series of Unsecured Notes.  The 30-day
grace period for the payment of interest expired May 16, 2016.

"As evidenced by the virtually weekly chapter 11 filings or other
announcements of debt restructurings in the industry, the impact of
the volatility of the commodity markets on the Debtors' business is
clear," Mr. Jackson said.

Breitburn expects to continue its operations without interruption
and cash from its operations, cash on hand, and a $75 million
debtor-in-possession financing facility will provide it with more
than adequate liquidity to fund its operations during the
restructuring process.  Breitburn's DIP Financing Facility lenders
have offered to arrange an additional $75 million of DIP financing
at Breitburn's request.

During the last 30 days, Breitburn has been engaged in constructive
discussions with its second lien noteholders and the advisors to
its unsecured noteholders regarding the need for, sponsorship of,
and terms of a balance sheet restructuring. Simultaneously,
Breitburn has been engaged in constructive discussions with its
revolving lenders regarding their support for emergence financing,
as well as the treatment of Breitburn's valuable hedging assets in
conjunction with its emergence from the Chapter 11 cases.
Breitburn plans to utilize the Chapter 11 cases to continue and
complete these discussions with key stakeholders and evaluate other
value-maximizing opportunities to facilitate an expedited balance
sheet restructuring that will leave Breitburn as a stronger,
deleveraged, and recapitalized enterprise.

"By continuing the proactive approach we started 15 months ago and
restructuring our balance sheet now, we expect to create a stronger
and more financially sound company for the benefit of all our
stakeholders" Mr. Washburn added.  "During the restructuring
process, we will continue managing our business and operating our
assets as we do today."

                         First Day Motions

Breitburn has filed a variety of "first-day" motions with the court
seeking, among other things, authority to maintain its existing
cash management system, approval of the DIP Financing Facility,
authority to make payments to royalty interest holders and with
respect to its lease operating expenses, drilling and production
costs, and other related operating costs, and other customary
relief.  

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

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

                      About Breitburn Energy

Breitburn Energy Partners, LP, et al., are an independent oil and
gas partnership engaged in the acquisition, exploitation and
development of oil and natural gas properties, Midstream Assets,
and a combination of ethane, propane, butane and natural gasolines
that when removed from natural gas become liquid under various
levels of higher pressure and lower temperature, in the United
States.  The Debtors conduct their operations through Breitburn
Parent's wholly-owned subsidiary, Breitburn Operating LP, and
BOLP's general partner, Breitburn Operating GP LLC.

As of the Petition Date, the Debtors operate, or have working
interests in approximately 11,900 gross operating oil and gas
wells, and 7,921 net oil and gas wells.  The Debtors own interests
in approximately 705,597 net acres and had estimated proved
reserves, as of Dec. 31, 2015, of 239.3 million barrels of oil
equivalent of which approximately 54% was oil, 8% was NGLs, and 38%
was natural gas.  The Debtors maintain operational control over
approximately 91% of their proved reserves.  The Debtors'
production in 2015 was 20.8 million barrels of oil equivalent, of
which approximately 56% was oil, 9% was NGLs and 35% was natural
gas.

The Debtors have engaged Weil Gotshal & Manges LLP as counsel,
Alvarez & Marsal North America, LLC as financial advisor, Lazard
Freres & Co. LLC as investment banker, and Prime Clerk LLC as
claims and noticing agent.

The cases are pending before the Honorable Stuart M. Bernstein and
are jointly administered under Case No. 16-11390.


BREITBURN ENERGY: Files Voluntary Chapter 11 Bankruptcy Petition
----------------------------------------------------------------
Breitburn Energy Partners LP (Breitburn) on May 16 disclosed that
it and certain of its affiliates filed voluntary petitions for
relief under Chapter 11 of the United States Bankruptcy Code in the
United States Bankruptcy Court for the Southern District of New
York (Chapter 11 Cases).  Breitburn expects to continue its
operations without interruption, and cash from its operations, cash
on hand, anda $75 million debtor-in-possession financing facility
(DIP Financing Facility)will provideBreitburn with more than
adequate liquidity to fund its operations during the restructuring
process.  Breitburn's DIP Financing Facility lenders have offered
to arrange an additional $75 million of DIP financing at
Breitburn's request.  The Chapter 11 Cases will facilitate the
restructuring of Breitburn's balance sheet.

During the last 30 days, Breitburn has been engaged in constructive
discussions with its second lien noteholders and the advisors to
its unsecured noteholders regarding the need for, sponsorship of,
and terms of a balance sheet restructuring. Simultaneously,
Breitburn has been engaged in constructive discussions with its
revolving lenders regarding their support for emergence financing,
as well as the treatment of Breitburn's valuable hedging assets in
conjunction with its emergence from the Chapter 11 Cases.
Breitburn plans to utilize the Chapter 11 Cases to continue and
complete these discussions with key stakeholders and evaluate other
value-maximizing opportunities to facilitate an expedited balance
sheet restructuring that will leave Breitburn as a stronger,
deleveraged, and recapitalized enterprise.

Hal Washburn, Chief Executive Officer, said, "Theprolongeddecline
in commodity prices that began in 2014 has placed significant
financial stress on today's oil and gas industry.  Our long-lived,
low-decline portfolio of diverse assets continues performing in
line with our expectations, but the current outlook for commodity
prices makes our existing debt burden unsustainable.  Taking this
action now gives us flexibility in maximizing the value of the
ongoing business.  By continuing the proactive approach we started
15 months ago and restructuring our balance sheet now, we expect to
create a stronger and more financially sound company for the
benefit of all our stakeholders.  During the restructuring process,
we will continue managing our business and operating our assets as
we do today.  Cash from our operations, cash on hand and cash
available under the DIP Financing Facility will provide us with
more than sufficient funds to operate our business during the
restructuring process.  We look forward to working with our service
providers, suppliers, customers, vendors, and partners to ensure
that Breitburn emerges from the restructuring process a stronger
company."

Breitburn has filed a variety of "first-day" motions with the court
seeking, among other things, authority to maintain its existing
cash management system, approval of the DIP Financing Facility,
authority to make payments to royalty interest holders and with
respect to its lease operating expenses, drilling and production
costs, and other related operating costs, and other customary
relief.  When granted, such motions will assure Breitburn's ability
to maintain business-as-usual operations throughout the
restructuring process.

Weil, Gotshal & Manges LLP is serving as Breitburn's legal advisor,
Lazard Frères & Co. LLC is serving as investment banker, and
Alvarez and Marsal North America, LLC is serving as financial
advisor.

                 About Breitburn Energy Partners LP

Breitburn Energy Partners LP -- http://www.breitburn.com-- is a
publicly traded, independent oil and gas master limited partnership
focused on the acquisition, development, and production of oil and
gas properties throughout the United States.  Breitburn's producing
and non-producing crude oil and natural gas reserves are located in
the following seven producing areas: the Midwest, Ark-La-Tex, the
Permian Basin, the Mid-Continent, the Rockies, the Southeast, and
California.

                             *   *   *

As reported by the Troubled Company Reporter on April 13,
2016,Egan-Jones Ratings Company lowered the senior unsecured rating
on debt issued by Breitburn Energy Partners LP to CCC+ from B- on
March 18, 2016.  EJR also cut the rating on commercial paper issued
by the Company to C from B.


BROADVIEW NETWORKS: Incurs $160,000 Net Loss in First Quarter
-------------------------------------------------------------
Broadview Networks Holdings, Inc., filed with the Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing a
net loss of $160,000 on $71.9 million of revenues for the three
months ended March 31, 2016, compared to a net loss of $3.75
million on $72.9 million of revenues for the same period in 2015.

As of March 31, 2016, Broadview had $204 million in total assets,
$215 million in total liabilities and a total stockholders'
deficiency of $10.96 million.

"Our principal sources of liquidity are cash from operations, cash
and cash equivalents on hand and a revolving credit facility.  Our
revolving credit facility has a current maximum availability of
$25.0 million and is due in May 2017.  Any outstanding amounts
under the Revolving Credit Facility are subject to a borrowing base
limitation based on an advance rate of 85% of the amount of
eligible receivables, as defined. Our borrowing base has limited
our availability to $17.0 million, of which $11.5 million was
outstanding as of March 31, 2016. In addition to our normal
operating requirements, our short-term liquidity needs consist of
interest on the Notes, which are due in November 2017, capital
expenditures and working capital.  As of March 31, 2016, our $18.6
million of cash and cash equivalents was being held in several
large financial institutions, although most of our balances exceed
the Federal Deposit Insurance Corporation insurance limits.  We
anticipate that our current cash and cash equivalents balances,
along with cash generated from operations, will be sufficient to
meet working capital requirements for at least the next twelve
months."

"As of March 31, 2016, we will require approximately $31.5 million
in cash to service the interest due on the Notes throughout the
remaining life of the Notes.  For the three months ended March 31,
2016, the Company incurred capital expenditures of $5.4 million.
Fixed and success-based capital expenditures will continue to be a
significant use of liquidity and capital resources.  A majority of
our planned capital expenditures are "success-based" expenditures,
meaning that they are directly linked to new revenue."

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

                      https://is.gd/JRRlue

                    About Broadview Networks

Rye Brook, N.Y.-based Broadview Networks Holdings, Inc., is a
communications and IT solutions provider to small and medium sized
business ("SMB") and large business, or enterprise, customers
nationwide, with a historical focus on markets across 10 states
throughout the Northeast and Mid-Atlantic United States, including
the major metropolitan markets of New York, Boston, Philadelphia,
Baltimore and Washington, D.C.

Broadview Networks incurred a net loss of $9.79 million in 2015
following a net loss of $9.22 million in 2014.

                           *     *     *

In the July 23, 2012, edition of the Troubled Company Reporter,
Moody's Investors Service downgraded Broadview Networks Holdings,
Inc. Corporate Family Rating (CFR) to Caa3 from Caa2 and the
Probability of Default Rating (PDR) to Ca from Caa3 in response to
the company's announcement that it has entered into a
restructuring support agreement with holders of roughly 70% of its
preferred stock and roughly 66-2/3% of its Senior Secured Notes.
The company is expected to file a pre-packaged Chapter 11 Plan of
Reorganization or complete an out of court exchange offer.

As reported by the TCR on July 25, 2012, Standard & Poor's Ratings
Services lowered its corporate credit rating on Broadview to 'D'
from 'CC'.  "This action follows the company's announced extension
on its revolving credit facility.  We expect to lower the issue-
level rating on the notes to 'D' once the company files for
bankruptcy, or if it misses the Sept. 1, 2012 maturity payment on
the notes," S&P said.


CANCER GENETICS: Incurs $5.25 Million Net Loss in First Quarter
---------------------------------------------------------------
Cancer Genetics, Inc., filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $5.25 million on $6.06 million of revenue for the three months
ended March 31, 2016, compared to a net loss of $4.27 million on
$4.37 million of revenue for the same period in 2015.

As of March 31, 2016, Cancer Genetics had $43.96 million in total
assets, $15.7 million in total liabilities and $28.3 million in
total stockholders' equity.

"Our company has focused aggressively on two critical items, 1) the
final phase of integration of Response Genetics, and 2) on
developing new business contracts - both clinical and biopharma -
with partners that will be essential to helping both long-term
growth and margin expansion," said Panna Sharma, CEO & president of
Cancer Genetics, Inc.  "Our company's solid growth, coupled with
our industry leading capabilities in providing both genomic and
immune marker data positions CGI in a central position to the be
partner of choice in delivering precision medicine for oncology."

"The future of precision medicine in oncology will increasingly
need the integration of leading edge knowledge from multiple
disciplines such as genomics, immunology and transcriptomics to
build a more comprehensive profile of patients, populations and
disease progression.  CGI is very unique in our ability to provide
real solutions grounded in innovative research that are
substantially fragmented in the broader marketplace," said Panna
Sharma.  "The global infrastructure and unique business model
we’ve developed through strategic acquisitions has positioned us
for diversified growth and unparalleled access to the oncology
community.  This has allowed us to develop a durable platform from
which to commercialize our oncology programs.  Our team's efforts
in Immuno-Oncology will drive substantial increases in both
community testing and clinical trial participation throughout the
remainder of 2016 and well into 2017 which leads the company
towards its goal of profitability."

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

                     https://is.gd/5lfAIG

                    About Cancer Genetics

Rutherford, N.J.-based Cancer Genetics, Inc., is an early-stage
diagnostics company focused on developing and commercializing
proprietary genomic tests and services to improve and personalize
the diagnosis, prognosis and response to treatment (theranosis) of
cancer.

Cancer Genetics reported a net loss of $20.2 million on $18.0
million of revenue for the year ended Dec. 31, 2015, compared to a
net loss of $16.6 million on $10.2 million of revenue for the year
ended Dec. 31, 2014.


CAPE COD: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------
Debtor: Cape Cod Commercial Linen Service, Inc.
        880 Attucks Lane
        Hyannis, MA 02601

Case No.: 16-11811

Chapter 11 Petition Date: May 13, 2016

Court: United States Bankruptcy Court
       District of Massachusetts (Boston)

Judge: Hon. Joan N. Feeney

Debtor's Counsel: David B. Madoff, Esq.
                  MADOFF & KHOURY LLP
                  124 Washington Street - Suite 202
                  Foxborough, MA 02035
                  Tel: 508-543-0040
                  Fax: 508-543-0020
                  E-mail: madoff@mandkllp.com

                         - and -

                  Steffani Pelton Nicholson, Esq.
                  MADOFF & KHOURY LLP
                  124 Washington Street
                  Foxborough, MA 02035
                  Tel: 508-543-0040
                  E-mail: pelton@mandkllp.com

Debtor's           
Financial
Advisor:          BRUCE A. ERICKSON & B. ERICKSON GROUP, LLC

Total Assets: $1.24 million

Total Liabilities: $4.62 million

The petition was signed by Jeffrey Ehart, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/mab16-11811.pdf


CHASSIX HOLDINGS: Debtors Want Chapter 11 Cases Closed
------------------------------------------------------
Chassix, Inc., and their affiliated debtors ask the U.S. Bankruptcy
Court for the Southern District of New York, for the entry of a
final decree closing their Chapter 11 cases.

"The estates of the Debtors have been fully administered.  The
Confirmation Order was entered on July 9, 2015, and is final. The
transactions contemplated by the Plan including, without
limitation, the conversion of approximately $375 million of the
Debtors' Secured Notes and approximately $158 million of the
Debtors' Unsecured Notes to equity and the conversion of
approximately $250 million in debtor-in-possession financing to
exit financing, have been consummated.  In accordance with Section
5.18 of the Plan, Chassix Holdings was dissolved on January 6,
2016.  The New Board has been appointed and has assumed governance
over the Reorganized Debtors.  Payments under the Plan have
commenced. Most notably, on November 18, 2015, the Reorganized
Debtors made a first distribution to holders of Allowed Class 5
General Unsecured Trade Claims totaling approximately $3.5 million,
and, on January, 15, 2016, the Reorganized Debtors made a first
distribution to holders of Allowed Class 6 Other General Unsecured
Claims totaling approximately $3 million. There are no other
pending contested matters or adversary proceedings," the Debtors
aver.

Chassix Holdings, Inc., and its affiliated debtors are represented
by:

          Marcia L. Goldstein, Esq.
          Ray C. Schrock, Esq.
          WEIL, GOTSHAL & MANGES LLP
          767 Fifth Avenue
          New York, NY 10153
          Telephone: (212)310-8000
          Facsimile: (212)310-8007
          E-mail: marcia.goldstein@weil.com
                  ray.schrock@weil.com

                      About Chassix Holdings

Chassix is a global manufacturer and supplier of aluminum and iron
chassis sub-frame components and powertrain products with both
casting and machining capabilities.  Based in Southfield,
Michigan,
Chassix and its subsidiaries operate 23 manufacturing facilities
across six countries, providing safety critical automotive
components, having content on approximately 64% of the largest
platforms in North America.  Their product mix maintains an even
balance among trucks, minivans and SUVs, as well as small and
medium size cars and cross-over vehicles.

For the twelve months ended Dec. 31, 2014, the Debtors generated
$1.37 billion in revenue on a consolidated basis.  As of Dec. 31,
2014, the Debtors had $833 million in assets and $784 million in
liabilities on a consolidated basis.

Chassix Holdings, Inc., et al., sought Chapter 11 protection
(Bankr. S.D.N.Y. Lead Case No. 15-10578) in Manhattan on March 12,
2015, with a Chapter 11 plan that was negotiated with lenders and
customers.

Chassix, Inc., disclosed $5,880,354 in assets and $624,719,658 in
liabilities as of the Chapter 11 filing.  Its parent, Chassix
Holdings, Inc. disclosed $0 assets and $165,571,125 in liabilities
in its schedules.

The Debtors have tapped Weil, Gotshal & Manges LLP, as attorneys;
Lazard Freres & Co, LLC, as investment banker; FTI Consulting,
Inc.
to provide an interim CFO and additional restructuring services;
and Prime Clerk LLC, as claims and noticing agent.

The Official Committee of Unsecured Creditors appointed in the
case
has retained Akin Gump Strauss Hauer & Feld LLP as counsel;  Teneo
Securities LLC as financial advisor; and Kurtzman Carson
Consultants LLC as information and noticing agent.


CHC GROUP: U.S. Trustee Forms 5-Member Committee
------------------------------------------------
The Office of the U.S. Trustee on May 13, 2016, appointed five
creditors of CHC Group Ltd. to serve on the official committee of
unsecured creditors.

The committee members are:

     (1) Global Helicopters Pilots Association
         c/o Luke Yosca, VP
         2065 Winners Circle
         Cantonment, FL 32533
         E-mail: lukeyosca@ghpa.ca

     (2) Airbus Helicopters (SAS)
         c/o Kevin Cabeniss
         Airbus Helicoptors, Inc.
         2701 Forum Drive
         Grand Prairie, TX 75052
         972-641-3550
         E-mail: Kevin.Cabeniss@airbus.com

     (3) The Milestone Aviation Group Limited
         c/o Kelli Walsh
         G.E. Capital Aviation Services
         901 Main Avenue
         Norwalk, CT 06851
         203-842-5223
         E-mail: Kelli.walsh@gecas.com

     (4) Law Debenture Trust Company
         c/o Frank Godino
         400 Madison Avenue, Ste. 4D
         New York, NY 10017
         646-747-1251
         212-750-1361 – fax
         E-mail: Frank.godino@lawdeb.com

     (5) Sikorsky Commercial, Inc.
         c/o Brian Pelan
         6 Corporate Drive
         Shelton, CT 06484
         203-402-0252
         E-mail: brian.pelan@sikorsky.com

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

                      About CHC Group

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

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.

As of Jan. 31, 2016, CHG had $2.16 billion in total assets and
$2.19 billion in total liabilities.  

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

The cases are pending joint administration under Case No. 16-31854

before the Honorable Judge Jernigan.


COMBIMATRIX CORP: Incurs $3.13 Million Net Loss in First Quarter
----------------------------------------------------------------
Combimatrix Corporation filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing 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, Combimatrix had $11.20 million in total
assets, $2.52 million in total liabilities and $8.68 million in
total stockholders' equity.

At March 31, 2016, cash, cash equivalents and short-term
investments totaled $6.6 million, compared to $3.9 million at
Dec. 31, 2015.  Cash is held primarily in general checking accounts
as well as in money market mutual funds backed by U.S. government
securities.  Short-term investments are comprised primarily of
certificates of deposits issued by U.S. financial institutions.
Working capital was $8.1 million and $5.4 million at March 31,
2016, and Dec. 31, 2015, respectively.  The primary reason for the
increase in working capital was due to higher cash balances at
March 31, 2016, compared to Dec. 31, 2015, driven by operating,
investing and financing activities.

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

                      https://is.gd/pSRU8e

                        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.


COMVEST CAPITAL: Wins Bid to Dismiss Suit vs. Selkoe
----------------------------------------------------
President Judge Jan R. Jurden of the Superior Court of Delaware
granted Plaintiff Comvest Capital II, L.P.'s Motion to Dismiss and
denied Plaintiff's Motion for Judgment on the Pleadings.

Comvest Capital II, L.P., CapX Partners, and Karmaloop, Inc.
entered into an Amended and Restated Credit Agreement dated June
27, 2014. In connection with the Credit Agreement, Defendant
Gregory Selkoe, the founder and former CEO of Karmaloop, executed
an Amended and Restated Limited Personal Guaranty Agreement. In
March of 2015, Selkoe, Karmaloop, and Comvest executed three
amendments to the Credit Agreement. All three amendments included a
"Consent and Reaffirmation," wherein Selkoe "reaffirmed that all
Loan Documents shall continue to remain in full force and effect."

Comvest alleges that Selkoe's obligation under the Guaranty to
personally guarantee five million dollars of Karmaloop's debt was
triggered when Comvest demanded payment, following Karmaloop's
defaults in its performance obligations under the Credit Agreement.
Selkoe alleges that his payment obligation was never triggered
because Comvest failed to exhaust all commercially reasonable
collection efforts against Karmaloop before demanding payment from
Selkoe.

Selkoe also alleges various defenses and counterclaims against
Comvest based on Comvest's wrongful conduct. In particular, Selkoe
alleges that Comvest breached the implied covenant of good faith
and fair dealing when Comvest made repeated misrepresentations to
Selkoe as part of an undisclosed plan to depress Karmaloop's value
and interfere with its ability to repay its debt, so that Comvest
could acquire  for a fraction of its true worth.

A full-text copy of the Order dated April 26, 2016 is available at
http://is.gd/68myUdfrom Leagle.com.

The case is COMVEST CAPITAL II, L.P., Plaintiff, v. GREGORY SELKOE,
Defendant, C.A. No. N15C-08-110 JRJ CCLD.


COOK INLET: Effective Date Occurred on March 29
-----------------------------------------------
Miller Energy Resources, Inc., said that the Effective Date of its
Plan occurred on March 29, 2016.

As reported in the TCR, Judge Gary Spraker on Jan. 28, 2016,
entered an order confirming the Joint Plan of Reorganization of
Miller Energy Resources that will reduce the company's outstanding
debt by $150 million.  Lenders owed $189.7 million will receive (1)
100% of the equity in the reorganized Debtors, subject to dilution
by management stock, and (2) new notes of $60 million as payment
for their $151 million allowed secured claim.   If general
unsecured creditors (Class 4) vote to accept the Plan, $3.5 million
in cash will be contributed to the creditor trust (10% recovery).
If the class votes to reject the Plan, holders of general unsecured
claims will receive their pro rata share of $1 million in cash
(less 3% recovery).  A copy of the Disclosure Statement filed Dec.
17, 2016, is available at:

         http://bankrupt.com/misc/Miller_E_365_Am_DS.pdf

                  About Miller Energy Resources

Miller Energy Resources, Inc. --
http://www.millerenergyresources.com/-- is an oil and natural gas
production company focused on Alaska.  The Company has a
substantial acreage, reserve, and resource position in the State,
significant midstream and rig infrastructure to support production,
and 100% working interest in and operatorship of most of its
assets.

Miller Energy Resources and 10 of its affiliates filed Chapter 11
bankruptcy petitions (Bank. D. Alaska Lead Case No.  15-00236) on
Oct. 1, 2015.  Carl F. Giesler, Jr., the CEO, signed the petitions.
Judge Gary Spraker is assigned to the cases.

The Debtors disclosed total assets of $392,559,000 and total debts
of $336,910,000 as of Jan. 31, 2015.

The Debtors have engaged Andrews Kurth LLP as counsel, David H.
Bundy P.C., as local counsel, Seaport Global Securities as
financial advisor, and Prime Clerk as claims and noticing agent.

On Aug. 6, 2015, Cook Inlet, a wholly-owned by MER, became the
subject of an involuntary Chapter 11 case filed by four creditors
asserting to have an aggregate claim of $2.8 million.  The
petitioning creditors were Baker Hughes Oilfield, M-I LLC,
Schlumberger Tech. Corp, and Baker Petrolite, LLC.  Judge Spraker
granted an order for relief under Chapter 11 of the Bankruptcy Code
on Oct. 2, 2015.

On Oct. 16, 2015, the U.S. Trustee formed an official committee of
unsecured creditors.  The Committee tapped Snow Spence Green LLP as
counsel and Erik LeRoy, P.C, as local counsel.  The members of the
Committee are: (i) Cruz Construction Inc. (ii) Baker Hughes
Oilfield Operations, Inc. (iii) Cudd Pressure Control, Inc. (iv)
Exxon Mobil Corporation; (v)Inlet Drilling Alaska, Inc. (vi)
National Oilwell Varco LP and (vii) Schlumberger Technology
Corporation.

On Oct. 30, 2015, each of the Debtors filed its Statement of
Financial Affairs and Schedules of Assets and Liabilities, subject
to permitted amendments from time to time.  Cook Inlet disclosed
$180 million in assets and $212 million in liabilities in its
schedules.

On Nov. 4, 2015, the U.S. Trustee conducted a meeting of creditors
pursuant to Section 341 of the Bankruptcy Code, as continued from
time to time.


CORNERSTONE TOWER: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Cornerstone Tower Service, Inc.
        PO Box 5222
        Grand Island, NE 68802

Case No.: 16-40787

Chapter 11 Petition Date: May 13, 2016

Court: United States Bankruptcy Court
       District of Nebraska (Lincoln Office)

Judge: Hon. Thomas L. Saladino

Debtor's Counsel: John C. Hahn, Esq.
                  JEFFREY, HAHN, HEMMERLING & ZIMMERMAN
                  5640 S. 84th St., Ste. 100
                  Lincoln, NE 68516
                  Tel: (402) 483-7711
                  Fax: (402) 483-6133
                  E-mail: bankruptcy@jhhz.net

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 billion to $10 billion

The petition was signed by James Scheer, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/neb16-40787.pdf


CRESTWOOD EQUITY: S&P Assigns 'BB-' CCR, Outlook Negative
---------------------------------------------------------
S&P Global Ratings assigned its 'BB-' corporate credit rating to
Crestwood Equity Partners LP.  The outlook is negative.

At the same time, S&P affirmed the 'BB-' corporate credit rating on
operating subsidiary Crestwood Midstream Partners LP (Midstream),
and the 'BB-' issue-level rating on the company's unsecured debt.
The outlook is negative.  The '4' recovery rating on the unsecured
debt is unchanged, indicating S&P's view that lenders can expect
average (30% to 50%; lower half of the range) recovery if a payment
default occurs.

In addition, S&P lowered the corporate credit rating on Crestwood
Holdings LLC (Holdings) to 'CCC+' from 'B-'.  The outlook is
stable.  S&P also downgraded the company's secured debt to 'CCC+'
from 'B-', and left the '4' recovery rating unchanged, indicating
S&P's view that lenders can expect average (30% to 50%; upper half
of the range) recovery in the event of a payment default.

"We view Crestwood's recent 56% quarterly cash distribution cut,
the strategic joint venture with Consolidated Edison Inc., and the
expected pay-down of debt positively for credit," said S&P Global
Ratings analyst Mike Llanos.  "However, in our view, Crestwood will
now be more reliant on riskier cash flows exposed to volumetric
risk. In our view, the partnership has sold its stable cash flow
producing northeast natural gas storage and pipeline assets into
the joint venture with Con Edison for $975 million and will use the
proceeds to improve its liquidity position and balance sheet."

Pro forma for the formation of the joint venture, S&P Global
Ratings expect adjusted debt to EBTIDA in the 4.5x to 5.0x range,
which also reflects S&P's view that the partnership's preferred
equity security will receive minimal equity treatment based on
S&P's criteria.  S&P previously assigned intermediate equity
treatment.  Such treatment constituted a misapplication of S&P's
criteria because under our methodology, if deferred payments accrue
at a higher than normal payment rate, S&P believes it would
discourage an issuer from deferring.  This change had no effect on
Crestwood's final rating.

The downgrade of Holdings reflects S&P Global Ratings' view that
the distribution cut will result in a capital structure that is
unsustainable in the long-term.  S&P expects Holdings' total annual
distributions to decline by roughly 30% from 2015 levels and to be
held flat over the next few years, leading to total leverage in
excess of 7x through maturity of the term loan, which in S&P's view
elevates refinancing risk.


CSM BAHIA: Case Summary & 7 Unsecured Creditors
-----------------------------------------------
Debtor: CSM Bahia, LLC
        9343 E. Bahia Dr.
        Scottsdale, AZ 85260

Case No.: 16-05393

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: May 12, 2016

Court: United States Bankruptcy Court
       District of Arizona (Phoenix)

Debtor's Counsel: Jonathan P. Ibsen, Esq.
                  CANTERBURY LAW GROUP, LLP
                  14300 N Northsight Blvd., Suite 129
                  Scottsdale, AZ 85260
                  Tel: 480-240-0040
                  Fax: 480-656-5966
                  E-mail: jibsen@edwardsandcherney.com
                          jibsen@clgaz.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Shane Powell, managing member.

A list of the Debtor's seven largest unsecured creditors is
available for free at http://bankrupt.com/misc/azb16-05393.pdf


CTI BIOPHARMA: Posts $3.31 Million Net Income for First Quarter
---------------------------------------------------------------
CTI Biopharma Corp. filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing net income
of $3.31 million on $36.5 million of total revenues for the three
months ended March 31, 2016, compared to a net loss of $28.6
million on $2.72 million of total revenues for the same period in
2015.

As of March 31, 2016, CTI Biopharma had $123.44 million in total
assets, $68.69 million in total liabilities and $54.74 million in
total shareholders' equity.

"We continue to believe in the potential of pacritnib to help
patients in need and are working to address the clinical hold on
the pacritinib program," said James A. Bianco, M.D., president and
chief executive officer of CTI BioPharma.  "While we work with the
FDA to seek to address their recommendations for getting pacritinib
off hold, we have made progress in our efforts to support patients
who were deriving benefit from pacritinib at the time of the
clinical hold by providing pacritinib under a single patient IND
program and, separately, to individual patients for "compassionate
use" under the FDA's emergency Expanded Access program.  We are
pleased that certain investigator-sponsored trials can resume as
the agency has removed the clinical hold at their sites."

"We are also preparing for the release of top-line results from the
PERSIST-2 Phase 3 clinical trial, which we expect to report in the
third quarter of 2016," added Dr. Bianco.

As of March 31, 2016, cash and cash equivalents totaled $104.6
million, compared to $128.2 million as of December 31, 2015.

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

                       https://is.gd/EVDYpQ

                       About CTI BioPharma

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

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

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


CYTORI THERAPEUTICS: Incurs $5.33 Million Net Loss in First Quarter
-------------------------------------------------------------------
Cytori Therapeutics, Inc. filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $5.33 million on $1.33 million of product revenues for the three
months ended March 31, 2016, compared to a net loss of $21.95
million on $902,000 of product revenues for the same period in
2015.

As of March 31, 2016, Cytori had $32.91 million in total assets,
$25.17 million in total liabilities and $7.74 million in total
stockholders' equity.

"The business fundamentals continue to strengthen," said Dr. Marc
H. Hedrick, president and CEO of Cytori Therapeutics.  "The US
trial enrollment for our lead indication is nearly complete, we see
positive trends on revenue and we continue see new opportunities
for our technology that are in alignment with the Company's core
strategic direction."

"Q1 2016 net loss was approximately 20% lower than Q1 2015, despite
an expansion of our investments in research and development," said
Tiago Girao, VP of finance and CFO of Cytori Therapeutics.  "For
the remainder of 2016, we plan to continue to narrow our quarterly
losses and decrease the need for capital through a number of
initiatives.  These efforts consist largely of balancing further
improvements in operational efficiency, working capital management,
increased revenue, and an intense focus on those activities that we
believe will contribute to stockholder value creation."

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

                     https://is.gd/n8uYbF

                         About Cytori

Based in San Diego, California, Cytori Therapeutics (NASDAQ: CYTX)
-- http://www.cytori.com/-- is an emerging leader in providing    

patients and physicians around the world with medical
technologies, which harness the potential of adult regenerative
cells from adipose tissue.  The Company's StemSource(R) product
line is sold globally for cell banking and research applications.

Cytori reported a net loss allocable to common stockholders of
$19.4 million on $4.83 million of product revenues for the year
ended Dec. 31, 2015, compared to a net loss allocable to common
stockholders of $38.5 million on $4.95 million of product revenues
for the year ended Dec. 31, 2015.

KPMG LLP, in San Diego, California, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2015, citing that the Company's recurring losses
from operations and liquidity position raises substantial doubt
about its ability to continue as a going concern.


CYTORI THERAPEUTICS: Stockholders Elect 7 Directors
---------------------------------------------------
Cytori Therapeutics, Inc., held its annual meeting of Stockholders
on May 10, 2016, at which the stockholders:

   (a) elected David M. Rickey, Richard J. Hawkins, Paul W.  
       Hawran, Marc H. Hedrick, M.D., Gary A. Lyons, and Gail K.
       Naughton, Ph.D. as directors to serve until the 2017 annual
       meeting of stockholders and until their respective
       successors are elected and qualified;

   (b) ratified the appointment of KPMG LLP to act as the
       Company's independent auditors for the fiscal year ending
       Dec. 31, 2016;

   (c) approved an amendment to the Company's 2014 Equity
       Incentive Plan; and

   (d) approved an amendment to the Company's amended and restated
       certificate of incorporation, as amended.

On May 10, 2016, Cytori filed a Certificate of Amendment to its
Amended and Restated Certificate of Incorporation, as amended, with
the Secretary of State of Delaware to effectuate a one-for-fifteen
(1:15) reverse stock split of its common stock, par value $0.001
per share.  The Amendment became effective on the filing date.  The
reverse stock split will be effective for trading purposes as of
the commencement of trading on the NASDAQ Capital Market on May 12,
2016.  Upon effectiveness, each fifteen shares of issued and
outstanding Common Stock were converted into one newly issued and
outstanding share of Common Stock and the number of authorized
shares of Common Stock was reduced from 290 million to 75 million.
The Company's five million shares of authorized Preferred Stock
were not affected by the reverse split.

No fractional shares were issued in connection with the reverse
stock split.  Any fractional shares of Common Stock that would have
otherwise resulted from the reverse stock split were rounded up to
the nearest whole share.  Outstanding equity awards will be
proportionately reduced to give effect to the reverse stock split
and the shares available for future grants under the Company's 2014
Equity Incentive Plan and 2015 New Employee Incentive Plan will be
proportionately reduced to give effect to the reverse stock split.

                          About Cytori

Based in San Diego, California, Cytori Therapeutics (NASDAQ: CYTX)
-- http://www.cytori.com/-- is an emerging leader in providing    

patients and physicians around the world with medical
technologies, which harness the potential of adult regenerative
cells from adipose tissue.  The Company's StemSource(R) product
line is sold globally for cell banking and research applications.

Cytori reported a net loss allocable to common stockholders of
$19.4 million on $4.83 million of product revenues for the year
ended Dec. 31, 2015, compared to a net loss allocable to common
stockholders of $38.5 million on $4.95 million of product revenues
for the year ended Dec. 31, 2015.

As of March 31, 2016, Cytori had $32.91 million in total assets,
$25.17 million in total liabilities and $7.74 million in total
stockholders' equity.

KPMG LLP, in San Diego, California, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2015, citing that the Company's recurring losses
from operations and liquidity position raises substantial doubt
about its ability to continue as a going concern.


DARDEN-GREEN CO: Case Summary & 15 Unsecured Creditors
------------------------------------------------------
Debtor: Darden-Green Co., Inc.
        3378 Wood Drive Circle N.E.
        Birmingham, AL 35215

Case No.: 16-01957

Chapter 11 Petition Date: May 12, 2016

Court: United States Bankruptcy Court
       Northern District of Alabama (Birmingham)

Judge: Hon. Tamara O Mitchell

Debtor's Counsel: Thomas E Reynolds, Esq.
                  REYNOLDS LEGAL SOLUTIONS, LLC   
                  300 Richard Arrington Jr. Blvd. N., Suite 503
                  Birmingham, AL 35203
                  Tel: 205-957-6500
                  E-mail: ter@reynoldslegalsolutions.com

Total Assets: $2.13 million

Total Liabilities: $2.31 million

The petition was signed by Bobbie Green, general manager.

A list of the Debtor's 15 largest unsecured creditors is available
for free at http://bankrupt.com/misc/alnb16-01957.pdf


DELL INC: S&P Affirms 'BB+' CCR, Outlook Stable
-----------------------------------------------
S&P Global Ratings said that it affirmed its 'BB+' corporate credit
rating on Round Rock, Texas-based Dell Inc.  The rating outlook is
stable.

At the same time, S&P assigned its 'BBB' issue-level rating and '1'
recovery rating to Dell's proposed $3.7 billion senior secured term
loan A-1.  The '1' recovery rating indicates S&P's expectation for
very high recovery (90%-100%) of principal in the event of a
payment default.

S&P also assigned its 'BBB-' issue-level rating and '2' recovery
rating to the company's proposed $3.15 billion senior secured
revolver, $3.925 billion term loan A-2, $3.5 billion term loan A-3,
$8 billion term loan B, and $16 billion senior secured notes. The
'2' recovery rating indicates S&P's expectation for substantial
recovery (70%-90%; lower half of the range) of principal in the
event of a payment default.

In addition, S&P assigned its 'BB' issue-level rating and '5'
recovery rating to the company's proposed $3.25 billion senior
unsecured notes.  The '5' recovery rating indicates S&P's
expectation for modest recovery (10%-30%; upper half of the range)
of principal in the event of a payment default.

S&P also lowered its issue-level rating on Dell's $2.5 billion
existing senior unsecured notes to 'BB-' from 'BB+' and revised the
recovery rating to '6' from '3'.  At the same time, S&P removed the
rating from CreditWatch, where it had placed it with negative
implications on Oct. 12, 2015.  The '6' recovery rating indicates
S&P's expectation for negligible recovery (0%-10%) of principal in
the event of a payment default.

Dell will use the proceeds from the debt issuance to partially fund
its acquisition of EMC, which S&P expects to close by October 2016.
The transaction is subject to customary regulatory and shareholder
approvals.

"The rating affirmation reflects our view that the combined Dell
and EMC entity, which will be named Dell Technologies, would be one
of the largest technology companies globally, with leadership
positions across the PC, servers, storage, and virtualization
software markets, and improved sales channels covering small- to
midsize businesses and large enterprises.  Offsetting factors
include the combined company's high pro forma adjusted leverage of
about 4x at the transaction's closing; the integration risk, albeit
moderate, the business combination poses; and the weaker PC,
storage and virtualization software business growth prospects due
to a delayed PC refresh cycle and the enterprise businesses'
ongoing transitioning of their IT infrastructure to cloud service
providers from their private data centers.  Our rating also
reflects Dell's commitment to repay debt with proceeds from noncore
asset sales and free operating cash flow generation, such that pro
forma adjusted leverage would decline from the 4x level at the
transaction closing," S&P said.

The EMC acquisition announcement follows Dell's leveraged buyout
(LBO) by its founder and CEO Michael Dell and Silver Lake Partners
in October 2013 for approximately $25 billion.  Dell has been
successful in its deleveraging plan, with leverage of about 2x at
the end of fiscal year ended Jan. 29, 2016, down from pro forma
leverage in the 5x area at the time of the LBO transaction.

"The stable outlook indicates our expectation that Dell will be
able to successfully integrate its acquisition of EMC, maintain
market leadership in its product categories, and achieved
identified cost savings, leading to leverage declining to the low-
to mid-3x area within 12-18 months after the transaction closes,"
said S&P Global Ratings credit analyst David Tsui.

S&P would lower its corporate credit rating on Dell if the
company's business conditions deteriorate significantly or if it
encounters acquisition integration challenges, leading to
materially weaker-than-expected revenue growth and profitability,
and adjusted leverage exceeding 4x.

S&P would raise its rating on Dell by one notch to 'BBB-' if the
company is able to execute its plan of achieving the targeted cost
savings and repay debt, leading to leverage sustained below 3x,
while committing to a financial policy that would preclude it from
taking on incremental debt that would jeopardize its
investment-grade ('BBB-' and above) debt ratings.


DELTA AIRLINES: Court Denies Flight Attendant's FMLA Suit
---------------------------------------------------------
This matter is before the Court on Defendants Delta Airlines and
Joni Gagnon's Motion for Summary Judgment seeking summary judgment
on all claims. Also before the Court is Plaintiff Georjane
Branham's Motion for Summary Judgment seeking summary judgment on
her FMLA claim.

Plaintiff worked for Delta as a flight attendant since 1991. On
July 26, 2010, Plaintiff tried to report for duty and board a Delta
flight with a blood-alcohol level of 0.049. A confirmation test
conducted twenty minutes later revealed a blood-alcohol level of
0.041. Delta policy prohibited employees in a position requiring
the performance of safety sensitive functions, like flight
attendants, from reporting for duty with an alcohol concentration
of 0.02 or greater.

After a review of her employment, Delta's In-Flight Service
recommended that Plaintiff's employment be terminated and Delta's
Human Resources department supported that recommendation.
Plaintiff's employment was terminated effective July 5, 2012.
Plaintiff appealed her termination through Delta's Conflict
Resolution Process. At the end of that process, Plaintiff's
termination was upheld. Plaintiff then appealed that decision two
more levels. Each time the decision to terminate was upheld.

Plaintiff's First Amended Complaint asserts the following causes of
action: (1) violation of the Family and Medical Leave Act ("FMLA");
violation of the Employee Retirement Income Security Act ("ERISA");
breach of contract; breach of the covenant of good faith and fair
dealing; violation of the Americans with Disabilities Act ("ADA");
and violation of the Age Discrimination in Employment Act
("ADEA").

Judge Ted Steward of the United States District Court for the
District of Utah denied Plaintiff's Motion for Summary Judgment and
granted Defendants' Motion.

A full-text copy of the Memorandum Decision and Order dated April
26, 2016 is available at http://is.gd/x4FJQrfrom Leagle.com.

The case is GEORJANE BRANHAM, Plaintiff, v. DELTA AIRLINES AND JONI
GAGNON, Defendant, Case No. 2:14-CV-429 TS.

Georjane Branham, Plaintiff, is represented by April L.
Hollingsworth, Esq. -- HOLLINGSWORTH LAW OFFICE LLC & Ashley
Frances Leonard, Esq. -- HOLLINGSWORTH LAW OFFICE LLC.

Delta Airlines, Defendant, is represented by Calvin R. Winder, Esq.
-- cwinder@rqn.com -- RAY QUINNEY & NEBEKER, David B. Dibble, Esq.
-- ddibble@rqn.com -- RAY QUINNEY & NEBEKER & Frederick R. Thaler,
Esq. -- fthaler@rqn.com -- RAY QUINNEY & NEBEKER.

Joni Gagnon, Defendant, is represented by Calvin R. Winder, RAY
QUINNEY & NEBEKER, David B. Dibble, RAY QUINNEY & NEBEKER &
Frederick R. Thaler, RAY QUINNEY & NEBEKER.


DENBURY RESOURCES: S&P Lowers Corporate Credit Rating to 'SD'
-------------------------------------------------------------
S&P Global Ratings said it lowered its corporate credit rating on
Plano, Texas-based Denbury Resources Inc. to 'SD' (selective
default) from 'CC'.  At the same time, S&P lowered its issue-level
ratings on its subordinated notes due 2021, 2022, and 2023 to 'D'
from 'CC'.

The downgrade follows Denbury's announcement that it has closed a
privately negotiated agreement to exchange a portion of its senior
subordinated notes due 2021, 2022, and 2023 for new second-lien
notes and new common shares at a meaningful discount to par.  The
company exchanged about $922 million principal amount of existing
notes for approximately $531 million of new notes and 36.9 million
shares of common equity.  This represents a discount of about 27%
to par based on a stock price of $3.92 as of May 10, 2016.

S&P views the exchange as distressed, rather than purely
opportunistic, given that investors will receive less than what was
promised on the original securities and S&P expects a significant
deterioration in the company's operating cash flow in 2016 and 2017
due to weak commodity prices.  S&P notes that the exchange, along
with note repurchases done by the company in the first quarter of
2016, reduce the company's approximately $3.3 billion of debt as of
year-end 2015 by about $488 million in aggregate, thereby improving
financial leverage.

S&P expects to review the corporate credit and issue-level ratings
in the next few days.  S&P also expects to assign issue-level and
recovery ratings to Denbury's new debt.  S&P's analysis will
incorporate the challenging operating environment for oil and gas
companies at current commodity prices and Denbury's high, though
marginally improved, leverage.


DIEBOLD INC: S&P Assigns 'BB-' CCR, Outlook Stable
--------------------------------------------------
S&P Global Ratings said that it assigned its 'BB-' corporate credit
rating to North Canton, Ohio-based Diebold Inc.  The outlook is
stable.

At the same time, S&P assigned its 'BB-' issue-level rating and '3'
recovery rating to the company's $2.4 billion first-lien credit
facility, which consists of a $520 million revolver, $230 million
term loan A, $250 million delayed-draw term loan A, $1 billion term
loan B, and a EUR350 million euro-based term loan B.  The '3'
recovery rating indicates S&P's expectation for meaningful recovery
(50% to 70%; upper end of the range) in the event of a payment
default.

S&P also assigned its 'B+' issue-level rating and '5' recovery
rating to the company's $400 million senior unsecured notes.  The
'5' recovery rating indicates S&P's expectation for modest (10% to
30%; lower end of the range) recovery in the event of a payment
default.

S&P's 'BB-' corporate credit rating reflects Diebold's strong
global ATM vendor market scale, modest ATM industry growth
prospects, and sizeable leverage in the mid-4x area.  The combined
company will have leading global ATM unit market share, with an
installed base of about one million ATMs, or about one third of
total global ATMs, putting it ahead of competitor NCR Corp.,
according to Retail Banking Research.  Diebold's operating
performance in emerging markets has been pressured by economic
weakness in certain emerging market geographies such as its Brazil
business, where the company is reducing its scope, and with
domestic suppliers in China.  Top-line performance in 2015 and the
first quarter of 2016 has also been affected by softness in the
North American regional bank market.

In addition to increased geographic diversity and market presence,
the acquisition of Wincor provides Diebold exposure to electronic
point-of-sale device and automated self-checkout equipment retail
markets (pro forma about 15% of revenue).  The company has also
identified approximately $160 million of annual cost synergies to
be achieved through 2018, which S&P expects will result in gradual
EBITDA margin expansion to slightly more than 10% and lower
leverage over time.

"The stable outlook reflects our expectation that leverage will
likely remain above 4x through 2017 as the company integrates
Wincor," said S&P Global Ratings credit analyst Peter Bourdon.


DIPLOMATA S/A: Court Grants Petition for Recognition
----------------------------------------------------
Judge Laurel M. Isicoff of the U.S. Bankruptcy Court for the
Southern District of Florida, granted court-appointed Judicial
Administrator and duly authorized foreign representative, Capital
Administradora Judicial Limitada's Petition for Recognition of
Diplomata S/A Industrial e Comercial, et. al.'s Brazilian
proceeding.

Judge Isicoff held that Capital Administradora Judicial Limitada
has satisfied the requirements of sections 1515 of the Bankruptcy
Code and Rules 1007(a)(4), 1011(b), and 2002(q) of the Federal
Rules of Bankruptcy Procedure and that the Brazilian Proceeding is
entitled to recognition by the Court pursuant to 11 U.S.C. Section
1517.

Judge Isicoff acknowledged that the State of Parana in Brazil is
the Debtors' center of main interests, and accordingly, the
Brazilian Proceeding is a "foreign main proceeding."  He held that
Capital Administradora Judicial Limitada, the Debtors and the
Brazilian Proceeding, as applicable, are entitled to all relief
provided thereto as of right upon recognition of a foreign
proceeding pursuant to chapter 15 of the Bankruptcy Code.

The Foreign Representative was authorized by Judge Isicoff to
examine witnesses, take evidence, and seek the delivery of
information concerning the Debtors' assets, affairs, rights,
obligations, or liabilities without further order of the Court.
Judge Isicoff entrusted the Foreign Representative with the
administration, realization and distribution of all of the Debtors'
assets within the territorial jurisdiction of the United States.

Judge Isicoff directed all persons and entities who were given
notice of the Chapter 15 Petition and the hearing thereon, or who
otherwise receive actual or constructive notice of the entry of his
Order, who are in possession, custody, or control of the Debtors'
property, or the proceeds thereof, whether or not such property or
proceeds are located within the territorial jurisdiction of the
United States, to immediately advise Capital Administradora
Judicial Limitada by written notice at the following address:

          Massa Falida do Diplomata S/A Industrial e Comercial
          Attention: Dr. Luis Claudio Montoro Mendes
          Capital Administradora Judicial Limitada
          Rua Silvia, 110 - cj.52
          Bela Vista, São Paulo, SP
          CEP 01311.928
          Brazil

Capital Administradora Judicial Limitada, the court-appointed
Judicial Administrator and duly authorized representative of the
Brazilian proceeding of Debtors Diplomata S/A Industrial e
Commercial, et al., is represented by:

          John D. Couriel, Esq.
          Stephanie L. Hauser, Esq.
          KOBRE & KIM LLP
          2 South Biscayne Boulevard, 35th Floor
          Miami, FL 33131
          Telephone: (305)967-6100
          Facsimile: (305)967-6120
          E-mail: John.Couriel@kobrekim.com
                  Stephanie.Hauser@kobrekim.com

                  About Diplomata S/A Industrial

Diplomata S/A Industrial e Comercial began operations in 1996 as a
poultry producer and distributor.  Diplomata maintains its
headquarters in Capanema, Parana, Brazil, and its management
center in Cascavel, Parana, Brazil.  As of July 2012, Diplomata
was the largest employer in Capanema, with approximately 5,000
employees working in its processing and animal feed plants.

Klassul Indstria de Alimentos S/A began operations in 1981 as a
company that produces fertile poultry eggs, manufactures animal
feed, and wholesales pesticides, fertilizer, and soil products.
Klassul has not been operational since 1995.

Attivare Engenharia e Eletricidade Ltda began operations as a
construction company in 2005, but has not been operational since
2011.

Jornal Hoje Ltda began operations as a newspaper publisher and
printer in 1998, but has not been operational since it transferred
its publications to Paper M°dia in 2000.

Paper Midia Ltda began operations as a newspaper publisher and
printer in 2000 upon receiving transfer of the Jornal Hoje
publications.

The Debtors' Chapter 15 cases are assigned to Judge Laurel M
Isicoff.

Kobre & Kim LLP serves as the Judicial Administrator's counsel.


DOGLEG RIGHT: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Dogleg Right Partners, LP
        1200 Placid Avenue, 300
        Plano, TX 75074

Case No.: 16-40885

Chapter 11 Petition Date: May 15, 2016

Court: United States Bankruptcy Court
       Eastern District of Texas (Sherman)

Debtor's Counsel: Robert T. DeMarco, Esq.
                  DEMARCO-MITCHELL, PLLC
                  1255 West 15th St., 805
                  Plano, TX 75075
                  Tel: 972-578-1400
                  Fax: 972-346-6791
                  E-mail: robert@demarcomitchell.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $10 million to $50 million

The petition was signed by David Billings, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/txeb16-40885.pdf


DOMUM LOCIS: June 21 Hearing on Admin. Expense Fee Applications
---------------------------------------------------------------
Judge Robert Kwan of the United States Bankruptcy Court for the
Central District of California, Los Angeles Division, ordered the
continuing hearing on final fee application of EPPS and Coulson,
LLP, Attorneys for Robert C. Warren, Chapter 11 Custodian.

The Final Fee Application of Epps & Coulson, LLP, Attorneys for
Robert C. Warren, Chapter 11 Custodian, ECF 306, is scheduled to
come on for hearing before this judge on April 27, 2016 at 11:00
a.m. The final fee application has been objected to by several
parties, including Debtor and Creditor Lloyds Bank, which indicates
that the application should be considered a contested matter under
Federal Rule of Bankruptcy Procedure 9014. The court is not sure
that it is appropriate for it to consider the fee application on a
final basis and payment of the claimed fees as an administrative
expense claim on a final basis since this Chapter 11 case is
nowhere close to resolution through plan confirmation proceedings,
the other administrative expense claims with the same priority have
not been resolved and the ability of the bankruptcy estate at this
time to pay the claimed fees or any other administrative expense
claims, including the claimed fees of counsel for Debtor, is
doubtful at this time.

The court exercises its discretion regarding the allowance of
administrative expense claims to continue the hearing on final
allowance of the claimed fees of applicant counsel for the Chapter
11 Custodian from April 27, 2016 at 11:00 a.m. to June 21, 2016 at
2:30 p.m. so that it may be heard with the First and Interim Fee
Application of Cypress LLP, counsel for Debtor, another
administrative expense claimant, if not later, in light of the
current status of the case and other factors. No appearances are
required at the April 27, 2016 hearing.

A full-text copy of the Order dated April 25, 2016 is available at
http://is.gd/9gkUOyfrom Leagle.com.

The case is In re: DOMUM LOCIS LLC, Chapter 11, Debtor, Case No.
2:14-bk-23301-RK.

Domum Locis LLC, Debtor, is represented by Howard S Levine, Esq. --
howard@cypressllp.com -- Cypress, LLP, Tania M Moyron, Cypress LLP,
Anastasija Snicarenko, Esq. -- Cypress LLP.

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

                     About Domum Locis

Domum Locis LLC owns real properties more commonly known and
described as (i) the "Strand Property" located at 1614-1618 The
Strand, Hermosa Beach, California, (ii) the "North Flores
Property," located at 1308 N. Flores Street, West Hollywood,
California, and (iii) the "Vista Chino Property," located at 424
W.
Vista Chino, Palm Springs, California.

Domum Locis LLC filed a Chapter 11 bankruptcy petition (Bankr.
C.D.
Cal. Case No. 14-23301) on July 11, 2014.  Judge Robert N. Kwan
presides over the case.  Michael J. Kilroy, the managing member,
signed the petition.

On April 13, 2015, Mr. Kilroy commenced his bankruptcy case by
filing a voluntary petition under chapter 11 of the Bankruptcy
Code.  Kilroy owns three real property assets and interests in
several partnerships and limited liability companies that, in
turn,
own real estate.  More specifically, Kilroy owns these real
properties, all of which are subject to liens held by Lloyds: (i)
the "2175 Southridge Drive Property" in Palm Springs, comprised of
two parcels with one house on it; (ii) the "2203 Southridge Drive
Property" in Palm Springs, comprised of one parcel with one house
on it and an adjacent second parcel that is a vacant lot; and
(iii)
the "2212 Southridge Drive Property" in Palm Springs, comprised of
one parcel with one house on it and an adjacent second parcel that
is a vacant lot.

Domum Locis tapped Cypress LLP as general bankruptcy counsel.

Domum Locis reported $14.6 million in assets and $11.04 million in
liabilities.


EAST AFRICAN DRILLING: Proofs of Claim Due July 27, 2016
--------------------------------------------------------
East African Drilling LTD. has filed a notice disclosing that
proofs of claim against it are due by July 27, 2016.  Governmental
entities have until Sept. 26, 2016 to submit proofs of claim.

                    About East African Drilling

East African Drilling LTD. filed a Chapter 11 bankruptcy petition
(Bankr. S.D. Tex. Case No. 16-31447) on March 25, 2016.  The
petition was signed by Shane Reeves as restructuring officer.  The
Debtor disclosed total assets of $10 million and total debts of
$45.35 million.  James B. Jameson, Esq., represents the Debtor as
counsel.  Judge Karen K. Brown has been assigned the case.


ENERGY XXI: Creditors Oppose Bid to Use Cash Collateral
-------------------------------------------------------
Fab-Con Inc. and B&J Martin Inc. have asked the U.S. Bankruptcy
Court for the Southern District of Texas to deny the motion of
Energy XXI Ltd. to use the cash collateral of its pre-bankruptcy
lenders.

In a court filing, both complained the company's failure to provide
"adequate protection replacement liens" in favor of creditors
holding "automatically-arising statutory liens and privileges"
under the Louisiana Oil Well Lien Act.

The motion had also drawn flak from other creditors, which echoed
the argument raised by Fab-Con and B&J Martin.  These creditors
include Dynamic Production Services Inc., Fluid Crane &
Construction Inc., Advanced Fire & Safety LLC and Production Inland
Crews LLC.

                        About Energy XXI

Energy XXI Ltd was incorporated in Bermuda on July 25, 2005. With
its principal operating subsidiary headquartered in Houston, Texas,
Energy XXI is engaged in the acquisition, exploration, development
and operation of oil and natural gas properties onshore in
Louisiana and Texas and in the Gulf of Mexico Shelf. It is listed
on the NASDAQ Global Select Market under the symbol "EXXI".

Energy XXI Ltd and 25 of its affiliates filed on April 14, 2016,
bankruptcy petitions in the U.S. Bankruptcy Court for the Southern
District of Texas (Bankr. S.D. Tex. Lead Case No. 16-31928).  The
petitions were signed by Bruce W. Busmire, the CFO.  Judge Karen K.
Brown is assigned to the cases.

Energy XXI Ltd on April 14, 2016, also filed a winding-up petition
commencing an official liquidation proceeding under the laws of
Bermuda before the Supreme Court of Bermuda.

The Debtors sought bankruptcy protection after reaching a deal with
lenders on the filing of a restructuring plan that would convert
$1.45 billion owed to second lien noteholders into equity of the
reorganized company.

The Debtors have hired Vinson Elkins as counsel, Gray Reed &
McGraw, P.C. as special counsel, Conyers Dill & Pearman as Bermuda
counsel, Locke Lord LLP as regulatory counsel, PJT Partners LP as
investment banker, Opportune LLP as financial advisor, Epiq
Systems, Inc., as notice and claims agent.

U.S. Bank, N.A. is the Debtor's largest unsecured creditor,
followed by Wilmington Trust, N.A. and Fab-Con Inc.  A list of the
Debtor's 65 largest unsecured creditors is available for free at
https://is.gd/uTNzKX


ENERGY XXI: Objections to Cash Collateral Motion Filed
------------------------------------------------------
The Ad Hoc Group of EPL Noteholders, Nexen Petroleum Offshore USA
Inc., and Lienholders Adriatic Marine, LLC, et. al., submitted to
the U.S. Bankruptcy Court for the Southern District of Texas,
Houston Division, their respective Objections to Energy XXI Ltd.,
et. al.'s Cash Collateral Motion.

The ad hoc group of certain holders and investment advisors and/or
managers for holders of the 8.25% Senior Notes due 2018 issued by
EPL Oil & Gas, Inc. ("Ad Hoc Group of EPL Noteholders") contends
that the Debtors' Chapter 11 cases are jointly administered for
procedural purposes only, that the Debtors have not been
substantively consolidated, and each continues as an independent
legal entity with separate and distinct assets and liabilities.  It
further contends that the relief requested in the Debtors' Motion
must be evaluated as it applies to and affects each of the
individual Debtors.

"The Ad Hoc Group of EPL Noteholers objects to the Motion, as it
applies to and affects EPL and its wholly-owned subsidiaries
(collectively, the "EPL Entities"), because it seeks relief that
ignores the corporate separateness of the Debtors, fraudulently
diverts material value of the EPL Entities to benefit structurally
subordinated claims, and disenfranchises unsecured creditors of the
EPL Entities.  In doing so, the proposed relief violates core
principles and provisions of the Bankruptcy Code designed to
protect unsecured creditors and threatens to materially and
irreparably harm the estates of the EPL Entities at the outset of
these cases," the Ad Hoc Group of EPL Noteholders aver.

Creditor Nexen Petroleum Offshore USA Inc. is a predecessor in
title to federal oil and gas leases currently held by EPL Oil &
Gas, Inc.

"The Debtors may need to provide additional financial assurance —
including potentially as much as $800 million or more in new surety
bonds — to secure the Debtors' proportionate share of P&A
obligations owed to the Bureau of Ocean Energy Management ("BOEM").
The Debtors will almost certainly need to provide collateral to
obtain such bonds.  Yet, through the Cash Collateral Motion, the
Debtors are voluntarily agreeing to (a) encumber all of their
currently unencumbered assets that might otherwise be used to
provide such collateral and (b) effectively give up their ability
to grant liens on, or security interests in, any collateral
(encumbered or unencumbered) in order to obtain such bonds.
Without collateral (unencumbered or otherwise) to pledge to obtain
new surety bonds, the Debtors may lose their interest in their most
valuable assets: the OCS leases. And even if co-lessees provided
bonds on behalf of the Debtors, such parties would likely be
entitled to massive administrative claims that could leave these
estates administratively insolvent... Accordingly, the Court should
(a) deny the imposition of any liens on, or security interests in,
the Debtors' currently unencumbered assets that could otherwise be
used to provide financial assurance to BOEM and other similar
government agencies, (b) eliminate the restrictions on the Debtors'
ability to grant liens and security interests to obtain plugging
and abandonment ("P&A") surety bonds (or obtain DIP financing), and
(c) carve out administrative claims related to the Debtors' P&A and
other environmental obligations from the adequate protections
provided to the Prepetition Secured Parties," Nexen contends.

Lienholders Adriatic Marine, LLC, et al., also filed an objection
to the Motion.

"Fundamentally, the Lienholders object to the failure to provide
adequate protection replacement liens in favor of creditors holding
automatically-arising statutory liens and privileges under the
Louisiana Oil Well Lien Act ("LOWLA") and any other applicable
state law while granting generous adequate protection in favor of
the Prepetition Agents and the Prepetition Secured Parties
including (a) stipulating to (i) the amount, validity and priority
of the First Lien Indebtedness, Second Lien Prepetition
Indebtedness and (ii) the liens of the Prepetition Agents upon the
Prepetition Collateral, and (b) releasing claims subject to
extremely limited challenge rights.  This concern is amplified by
the realistic possibility that certain of the Lienholders and many
other statutory lienholders may in fact have liens and privileges
with inception or effective dates prior to the granting of the
liens in favor of the Prepetition Agents and Prepetition Secured
Parties... The Lienholders further object to the imposition of
various provisions requested by the Debtors in connection with the
Cash Collateral Motion, which are not necessary to adequately
protect the interests of the Prepetition Agents and Prepetition
Secured Parties.  First, the waivers of marshaling rights and of
the Debtors' rights to surcharge collateral under 11 U.S.C. Section
506(c) provided in the Cash Collateral Order are not appropriate or
necessary to adequately protect the interests of secured creditors.
Second, the First Lien Adequate Protection Liens on proceeds of
Chapter 5 actions held by the Debtors' estates are not necessary to
adequately protect the interests of the First Lien Agent and First
Lien Secured Parties and should instead be maintained for the
benefit of unsecured creditors," Lienholders Adriatic Marine, LLC,
et. al. argue.

The Ad Hoc Group of EPL Noteholders is represented by:

          Dennis L. Jenkins, Esq.
          Benjamin W. Loveland, Esq.
          WILMER CUTLER PICKERING
          HALE AND DORR LLP
          60 State Street
          Boston, MA 02109
          Telephone: (617)526-6000
          E-mail: dennis.jenkins@wilmerhale.com
                  benjamin.loveland@wilmerhale.com

Nexen Petroleum Offshore USA Inc. is represented by:

          Barnet B. Skelton, Jr.
          BARNET B. SKELTON, JR., P.C.
          JP Morgan Chase Bank Building
          712 Main Street, Suite 1610
          Houston, TX 77002
          Telephone: (713)659-8761
          Facsimile: (713)659-8764
          E-mail: barnetbjr@msn.com

Adriatic Marine, L.L.C., et al., are represented by:

          Stewart F. Peck, Esq.
          Benjamin W. Kadden, Esq.
          LUGENBUHL, WHEATON, PECK,
          RANKIN & HUBBARD
          601 Poydras Street, Suite 2775
          New Orleans, LA 70130
          Telephone: (504)568-1990
          Facsimile: (504)310-9195
          E-mail: speck@lawla.com
                  bkadden@lawla.com

                      About Energy XXI Ltd.

Energy XXI Ltd was incorporated in Bermuda on July 25, 2005.  With
its principal operating subsidiary headquartered in Houston,
Texas,
Energy XXI is engaged in the acquisition, exploration, development
and operation of oil and natural gas properties onshore in
Louisiana and Texas and in the Gulf of Mexico Shelf.  It is listed
on the NASDAQ Global Select Market under the symbol "EXXI".

Energy XXI Ltd and 25 of its affiliates filed on April 14, 2016,
bankruptcy petitions in the U.S. Bankruptcy Court for the Southern
District of Texas (Bankr. S.D. Tex. Lead Case No. 16-31928).  The
petitions were signed by Bruce W. Busmire, the CFO.  Judge Karen
K.
Brown is assigned to the cases.

Energy XXI Ltd on April 14, 2016, also filed a winding-up petition
commencing an official liquidation proceeding under the laws of
Bermuda before the Supreme Court of Bermuda.

The Debtors sought bankruptcy protection after reaching a deal
with
lenders on the filing of a restructuring plan that would convert
$1.45 billion owed to second lien noteholders into equity of the
reorganized company.

The Debtors have hired Vinson Elkins as counsel, Gray Reed &
McGraw, P.C. as special counsel, Conyers Dill & Pearman as Bermuda
counsel, Locke Lord LLP as regulatory counsel, PJT Partners LP as
investment banker, Opportune LLP as financial advisor, Epiq
Systems, Inc., as notice and claims agent.


EXCO RESOURCES: Exploring Restructuring Options
-----------------------------------------------
Jacqueline Palank, writing for Dow Jones' Daily Bankruptcy Review,
reported that oil and gas explorer Exco Resources Inc. tapped its
directors to explore whether to restructure in or out of bankruptcy
court, among other options.

According to the report, the publicly traded company said on May 13
that its board of directors formed a special committee to review
its operations and financial condition and come up with ways to
improve its capital structure and boost liquidity amid the
continued commodities rout.

On October 26, 2015, the Company closed a 12.5% senior secured
second lien term loan with certain affiliates of Fairfax Financial
Holdings Limited in the aggregate principal amount of $300.0
million.  We also closed a 12.5% senior secured second lien term
loan with certain unsecured noteholders in the aggregate principal
amount of $291.3 million on October 26, 2015 and $108.7 million on
November 4, 2015.  The proceeds from the Exchange Term Loan were
used to repurchase a portion of the outstanding 2018 Notes and 2022
Notes in exchange for the holders of such notes agreeing to act as
lenders in connection with the Exchange Term Loan. The exchange was
accounted for as a troubled debt restructuring pursuant to FASB ASC
470-60, Troubled Debt Restructuring by Debtors.

The Second Lien Term Loans mature on October 26, 2020, with
interest payable on the last day in each calendar quarter.  The
Second Lien Term Loans are guaranteed by substantially all of
EXCO’s subsidiaries, with the exception of certain non-guarantor
subsidiaries and our jointly-held equity investments with BG Group,
and are secured by second-priority liens on substantially all of
EXCO's assets securing the indebtedness under the EXCO Resources
Credit Agreement.  The Second Lien Term Loans rank (i) junior to
the debt under the EXCO Resources Credit Agreement and any other
priority lien obligations, (ii) pari passu to one another and (iii)
effectively senior to all of our existing and future unsecured
senior indebtedness, including the 2018 Notes and the 2022 Notes,
to the extent of the collateral.

The Company stated in its Form 10-Q filing with the U.S. Securities
and Exchange Commission for the quarter ended March 31, 2016, that
"[s]ignificant reductions in our borrowing capacity as a result of
a redetermination of our borrowing base under the EXCO Resources
Credit Agreement could have an impact on our capital resources and
liquidity. The borrowing base redetermination process considers
assumptions related to future commodity prices; therefore, our
borrowing capacity could be negatively impacted by further declines
in oil and natural gas prices. The lenders party to the EXCO
Resources Credit Agreement have considerable discretion in setting
our borrowing base, and we are unable to predict the outcome of any
future redeterminations. Our next scheduled redetermination of the
borrowing base is set to occur on or about September 1, 2016 and
the lenders may request an unscheduled redetermination of the
borrowing base between scheduled redetermination dates. Any
reduction in our borrowing base could result in our liquidity being
limited to our cash flow from operations, which is currently in
decline as a result of the depressed commodity price environment.
If our borrowing base is materially reduced or we are no longer
able to draw on the EXCO Resources Credit Agreement or generate
sufficient cash flow from operations, we may not be able to fund
our operations and drilling activities or pay the interest on our
debt, which would result in us defaulting under our various debt
instruments and may force us to seek bankruptcy protection or
pursue other restructuring alternatives. Our ability to maintain
compliance with debt covenants is negatively impacted when oil
and/or natural gas prices and/or production declines over an
extended period of time. In particular, our Interest Coverage Ratio
and Senior Secured Indebtedness Ratio, each as defined in the EXCO
Resources Credit Agreement, are computed using EBITDAX for a
trailing period."

EXCO Resources, Inc., is a Dallas-based oil and natural gas
company
engaged in the exploration, acquisition, development and production
of
onshore U.S. oil and natural gas properties with a focus on shale
resource plays.  The Company's principal operations are conducted
in
certain key U.S. oil and natural gas areas including Texas,
Louisiana
and the Appalachia region.

                       *     *     *

The Troubled Company Reporter, on Nov. 5, 2015, reported that
Standard & Poor's Ratings Services lowered its corporate credit
rating on Dallas-based EXCO Resources Inc. to 'SD' (selective
default) from 'CCC+'.

"The downgrade follows Exco's announcement that the company has
entered into an agreement to repurchase a portion of its senior
unsecured notes at a significant discount to par," said Standard &
Poor's credit analyst Christine Besset.


F&H ACQUISITION: Time to Remove Actions Extended Through June 30
----------------------------------------------------------------
U.S. Bankruptcy Judge Kevin Gross has extended the time within
which F & H Acquisition Corp. may file notices of removal of claims
and causes of actions through and including June 30, 2016.

                   About F & H Acquisition Corp.

Wichita, Kansas-based F & H Acquisition Corp., et al., owners of
the Fox & Hound, Champps, and Bailey's Sports Grille casual dining
restaurants, filed sought Chapter 11 protection (Bankr. D. Del.
Lead Case No. 13-13220) on Dec. 16, 2013, to quickly sell their
assets.

As of the bankruptcy filing, the Debtors had 101 restaurants
located in 27 states and 6,000 employees.  F & H disclosed $122
million in assets and $123 million in liabilities as of the Chapter
11 filing.

The Debtors are represented by Robert S. Brady, Esq., Robert F.
Poppiti, Jr., Esq., and Rodney Square, Esq., at Young, Conaway,
Stargatt & Taylor, LLP of Wilmington, DE; and Adam H. Friedman,
Esq., Jordana L. Nadritch, Esq., and Jonathan T. Koevary, Esq. at
Olshan Frome Wolosky, LLP of New York, NY.  Imperial Capital LLC as
financial advisor; and Epiq Bankruptcy Solutions as claims and
noticing agent.

The Official Committee of Unsecured Creditors is represented by
Bradford J. Sandler, Esq., at Pachulski Stang Ziehl & Jones, LLP,
in Wilmington; and Jeffrey N. Pomerantz, Esq., at Pachulski Stang
Ziehl & Jones, LLP, in Los Angeles, California.

By order dated Feb. 28, 2014, the Court approved the sale of
substantially all of the assets pursuant to an Asset Purchase
Agreement, dated as of Feb. 7, 2014, by and among the Debtors and
Cerberus Business Finance, LLC, as buyer.  The sale closed on March
12, 2014.


FERRO CORP: S&P Affirms 'BB-' CCR & Revises Outlook to Developing
-----------------------------------------------------------------
S&P Global Ratings said that it affirmed its ratings on Mayfield
Heights, Ohio-based chemical company Ferro Corp., including its
'BB-' corporate credit rating, and revised the rating outlook to
developing from stable.

At the same time, S&P affirmed its 'BB-' issue-level rating on the
company's senior secured debt.  The recovery rating remains '3',
indicating S&P's expectation of meaningful (50% to 70%; higher half
of the range) recovery in the event of payment default.

The outlook revision follows the recent announcement that Ferro
Corp.'s board of directors is exploring possible strategic
alternatives for the company to enhance shareholder value and that
it has retained a financial advisor.  The developing outlook
reflects S&P's view of the uncertainties related to the result of
the strategic alternative process the company is undertaking.  The
outlook also reflects the chance that S&P could reassess the
company's financial risk profile, business risk profile, or both,
depending on the result of the process.

"The developing outlook reflects our belief that we could raise,
lower, or affirm the ratings on Ferro Corp., depending on the
outcome of the strategic alternative process the company is
undertaking," said S&P Global Ratings credit analyst Brian Garcia.


S&P expects profitability will gradually improve in the next one to
two years as a result of both cost-saving initiatives, as well as
the integration of the company's recently acquired,
higher-margin-generating companies.  S&P's ratings assume that,
absent a transaction, management will continue to pursue its growth
initiatives, while maintaining credit measures at levels in line
with a significant financial risk profile.  At the current rating,
S&P expects that the company will maintain its FFO-to-debt ratio at
about 20% on a weighted-average, sustainable basis (pro forma for
acquisitions).


FIRST DATA: Capital Research Holds 10.5% of Class A Shares
----------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, Capital Research Global Investors disclosed that as of
April 29, 2016, it beneficially owns 19,171,768 shares of Class A
Common Stock of First Data Corporation representing 10.5 percent of
the shares outstanding.  A copy of the regulatory filing is
available for free at https://is.gd/HcFcCF

                         About First Data

Based in Atlanta, Georgia, First Data Corporation provides
commerce and payment solutions for financial institutions,
merchants, and other organizations worldwide.

First Data reported a net loss attributable to the Company of $1.48
billion on $11.5 billion of total revenues for the year ended Dec.
31, 2015, compared to a net loss attributable to the Company of
$458 million on $11.2 billion of total revenues for the year ended
Dec. 31, 2014.

As of March 31, 2016, First Data had $33.72 billion in total
assets, $30.04 billion in total liabilities, $73 million in
redeemable noncontrolling interest and $3.61 billion in total
equity.

                           *     *     *

The Company carries a 'B2' corporate family rating, with a
stable outlook, from Moody's Investors Service, a 'B+' corporate
credit rating, with stable outlook, from Standard & Poor's, and
a 'B' long-term issuer default rating from Fitch Ratings.


FIRST DATA: Incurs $56 Million Net Loss in First Quarter
--------------------------------------------------------
First Data Corporation filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
attributable to the Company of $56 million on $2.77 billion of
total revenues for the three months ended March 31, 2016, compared
to a net loss attributable to the Company of $112 million on $2.69
billion of total revenues for the same period in 2015.

As of March 31, 2016, First Data had $33.7 billion in total assets,
$30.04 billion in total liabilities, $73 million in redeemable
non-controlling interest and $3.61 billion in total equity.

As of March 31, 2016, and Dec. 31, 2015, the Company held $311
million and $429 million in cash and cash equivalents,
respectively.

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

                       https://is.gd/e6TsE8

                         About First Data

Based in Atlanta, Georgia, First Data Corporation provides
commerce and payment solutions for financial institutions,
merchants, and other organizations worldwide.

First Data reported a net loss attributable to the Company of $1.48
billion on $11.5 billion of total revenues for the year ended Dec.
31, 2015, compared to a net loss attributable to the Company of
$458 million on $11.2 billion of total revenues for the year ended
Dec. 31, 2014.

                           *     *     *

The Company carries a 'B2' corporate family rating, with a
stable outlook, from Moody's Investors Service, a 'B+' corporate
credit rating, with stable outlook, from Standard & Poor's, and
a 'B' long-term issuer default rating from Fitch Ratings.


FM KELLY: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------
Debtor: FM Kelly Construction Group, Inc.
        2016 Linden Blvd.
        Elmont, NY 11003

Case No.: 16-72143

Chapter 11 Petition Date: May 12, 2016

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

Judge: Hon. Robert E. Grossman

Debtor's Counsel: Kenneth A. Reynolds, Esq.
                  MCBREEN & KOPKO
                  500 North Broadway, Suite 129
                  Jericho, NY 11753
                  Tel: (516) 364-1095
                  Fax: (516) 364-0612
                  E-mail: kreynolds@mklawnyc.com

Estimated Assets: $50,000 to $100,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Joseph Barbera, chief financial
officer.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/nyeb16-72143.pdf


FORESIGHT ENERGY: Incurs $41.7 Million Net Loss in First Quarter
----------------------------------------------------------------
Foresight Energy LP filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
attributable to limited partner units of $41.7 million on $166
million of total revenues for the three months ended March 31,
2016, compared to net income attributable to limited partner units
of $42.3 million on $239 million of total revenues for the same
period in 2015.

As of March 31, 2016, Foresight Energy had $1.76 billion in total
assets, $1.78 billion in total liabilities and a $17.99 million
total partners' deficit.

"Our industry continues to be faced with extreme challenges
resulting from competition from low cost natural gas, government
regulations impacting electric utilities and a reduction in demand
for power domestically," said Robert D. Moore, president and chief
executive officer.  "Foresight Energy, while dealing with the
external industry challenges and matters related to the bondholder
litigation, continues to focus on being the safest, lowest cost
source of coal supplied from the Illinois Basin, and continues to
believe that its cost structure will enable the company to weather
the depressed coal market better than its competitors."

            Update on Liquidity and Restructuring Efforts

"Foresight remains in default under all of its long-term debt and
capital lease obligations, which has prohibited Foresight from
accessing borrowings or other extensions of credit under its
revolving credit facility.  While management is focused on the
preservation of liquidity, the lack of access to borrowings or
other extensions of credit under its revolving credit facility is
having an adverse effect on Foresight's liquidity.  Liquidity
restraints prohibited the payment of $23.6 million of interest owed
to the unsecured noteholders in February 2016, which resulted in an
additional event of default under its debt agreements.  As of March
31, 2016, Foresight had $16.2 million of cash on hand. Also, the
recent losses incurred by Foresight have had a significant negative
impact on its compliance with financial debt covenants.  As of
March 31, 2016, Foresight was not in compliance with its
consolidated net senior secured leverage ratio, which constituted
an additional event of default.

"On April 18, 2016, Foresight entered into a Transaction Support
Agreement, with certain of the lenders under its credit agreement,
pursuant to which the Consenting Lenders have agreed, subject to
the terms and conditions within the Lender TSA, to support a
proposed global restructuring of the Partnership's indebtedness,
including a proposed amendment and restatement of the credit
agreement.  The proposed Amendment is conditioned upon the
successful execution of a series of proposed transactions, which
are the subject of ongoing negotiations amongst the various
stakeholders of the Partnership and its affiliates.

"Foresight has entered into forbearance agreements with certain of
its unsecured noteholders and the lenders to its accounts
receivable securitization program to forbear from exercising
certain rights and remedies to which they may be entitled until May
17, 2016, and July 15, 2016, respectively.

"The negotiations between the Partnership and its affiliates and
the creditors, equityholders and other stakeholders of the
Partnership concerning the terms of the proposed Restructuring
transactions are ongoing and have not been finalized.  The
Partnership is in active negotiations with the holders of the 2021
Senior Notes but has not reached an agreement with them on the
terms of the restructuring, including the terms of the Lender TSA.
There can be no assurance that the Partnership will reach an
agreement with the noteholders by May 17, 2016, nor can there be
any assurance that any of the foregoing parties to whom such
Restructuring transactions have been proposed will agree to the
terms of any such transactions in accordance with the terms
described herein, or if at all.  The other creditors and
stakeholders of the Partnership and its affiliates who are not
party to the Lender TSA have not approved or agreed (either
implicitly or explicitly) to the terms of the Restructuring and are
not bound to take (or refrain from taking) any actions as a result
of the execution of the Lender TSA."

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

                       https://is.gd/dYx1UZ

                      About Foresight Energy

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

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

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

                          *     *     *

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

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


FOSSIL GROUP: S&P Lowers CCR to 'BB+' as Earnings Decline
---------------------------------------------------------
S&P Global Ratings lowered its corporate credit rating on
Richardson, Texas-based Fossil Group Inc. to 'BB+' from 'BBB-'. The
outlook is stable.

Concurrently, S&P lowered its issue-level rating on the company's
$1.05 billion revolving credit facility and $231.25 million term
loan to 'BB+' from 'BBB-' and assigned a '3' recovery ratings to
these debt instruments, indicating S&P's expectation for meaningful
(50%-70%, at the high end of the range) recovery in the event of a
payment default.

"The downgrade reflects Fossil's steep decline in earnings over the
past five quarters, which resulted in a meaningful deterioration of
the company's credit measures," said S&P Global Ratings credit
analyst Mariola Borysiak.  "The rating action also reflects our
expectation that the weak operating trends will continue through
the most of 2016 because of the difficult retail environment,
intensified competitive pressures from wearable technology devices
(a segment Fossil was late in entering), and slowing economic
growth in its key markets.  S&P now estimates that debt to EBITDA
will remain above 2x at the end of 2016 before improving toward 2x
one year later.  These measures are significantly weaker than S&P's
previous expectations of debt leverage improving to 2x by the end
of 2016.  Moreover, S&P has factored into its ratings greater
volatility of profits given its vulnerability to technology-enabled
wearable devices."

The outlook is stable, reflecting S&P's expectation for modest
performance gains toward the end of 2016 and into 2017 as the
company's sales and margins begin stabilizing following the
introduction of technology-enabled wearable products.  S&P
anticipates the company's debt to EBITDA will be in the high-2x
area by end of the third quarter of 2016 and will improve to below
2.5x by the end of 2016 and toward 2x one year later.


GAP INC: Fitch Lowers IDR to 'BB+', Outlook Stable
--------------------------------------------------
Fitch Ratings has downgraded the Long-Term Issuer Default Rating
for The Gap, Inc. to 'BB+' from 'BBB-'.  The Rating Outlook is
Stable.

The downgrade reflects Fitch's reduced confidence in stabilization
of sales, expectations of continued gross margin volatility, and
belief that Gap will need to continue using real estate actions and
large-scale cost reduction programs to protect EBITDA in the face
of sales declines.  Fitch expects EBITDA to decline to the $2
billion range in 2016 versus $2.3 billion in 2015 and a peak of
$2.7 billion in 2014, with leverage expected to remain in the
mid-3x range.

The rating continues to reflect positive aspects of Gap's credit
story, including its capital discipline, positive free cash flow
(FCF), scale, and investments in omnichannel capabilities.

                       KEY RATING DRIVERS

Weak Sales Continue

Gap's comparable store sales (comps) continue to be weak, with -5%
comps in first quarter 2016 (1Q16) following -7% comps in 4Q15,
despite significantly easier comparisons and an assumed benefit
from sourcing and merchandising changes made in 2015.  Gap
continues to see material declines in traffic, and while traffic
declines are an issue across the mall space, Gap's outsized
declines are an indication that customer loyalty is waning as
product continues to disappoint.

Gap operates in a challenging mid-market apparel sector, which has
been characterized by lack of a strong product cycle and sales
bifurcation to higher-end aspirational brands and lower-end fast
fashion and off-price channels.  Gap and its peers have seen
volatile sales results and have needed to use significant
omnichannel investments and higher-than-expected markdowns to drive
sales.

Old Navy's (42% of 2015 revenue) recent weakness is of particular
concern, given that the brand has mitigated sales declines at the
Gap and Banana Republic brands for several years.  Old Navy had not
seen a quarterly comp decline since 4Q11 but produced comps of -8%
and -6% in 4Q15 and 1Q16, respectively.  Old Navy's value-oriented
positioning should benefit sales in a period of trade-down but it
appears that broader market discounting, and potential
merchandising issues are causing weak sales trends.

Fitch previously assumed that merchandising changes made in 2015
would begin to show improvement in 2016, yielding flattish comps by
the end of the year; weak 1Q trends have diminished confidence in
this expectation.  Fitch now believes comps could improve to the
negative 1% - 2% range by 4Q16 and remain modestly negative
thereafter.

Gross Margins Still Volatile

Fitch previously anticipated gross margins improving in 2016,
predicated on improving sales trends, reduced inventory buys and a
faster product cycle.  Gross margins have fallen from a peak in the
40% range in 2009 - 2010 to the mid-36% range in 2015.  Fitch
projects that weak sales exacerbated by merchandise misses have
caused 1Q16 gross margin erosion of 250 - 300 basis points (bps; to
approximately 35%), leading to an EBITDA decline of around 30% vs.
2015.

As a result of 1Q weakness, Fitch is less confident that the
company's process changes and reduced inventory position can
improve gross margins this year.  Fitch now believes gross margins
could be down around 150bps to the 35% level for the full year.

EBITDA Protection through Expense Management Continues

Gap announced it will seek additional opportunities to streamline
its operating infrastructure and will evaluate its international
real estate fleet (primarily Old Navy and Banana Republic) to
offset weak sales.  Fitch has generally viewed these moves
positively, including the 2015 closure of around 15% of North
American Gap brand stores.  However, the Gap's continued reliance
on transformational cost management programs to protect EBITDA as
sales decline is a negative.

Although details of the announced cost savings are expected to be
shared on the company's upcoming 1Q earnings call, Fitch has
assumed that SG&A could decline 2% - 3% in 2016 and modestly
thereafter, following a 3.5% decline in 2015.  As a result, Fitch
expects 2016 EBITDA to decline approximately 15% to $2 billion even
with a projected $100 million of net expense reduction.

While the company could realize modest SG&A and occupancy declines
beginning 2017 due to the slowdown of international expansion,
store closures, and other restructuring activity, the resulting
income benefit could merely offset anticipated sales declines.  As
a result, EBITDA could remain range bound in the low $2 billion
range.

                          KEY ASSUMPTIONS

   -- Comp sales are expected to be negative 3% - 4% in 2016, and
      modestly negative beginning 2017. Revenue growth
      approximates comp sales due to lack of unit expansion.

   -- EBITDA declines from $2.3 billion (14.4% of sales) in 2015
      to $2 billion (13.1% of sales) in 2016, reflecting around
      150bps of gross margin decline and 2% - 3% SG&A reduction,
      and remains in the low $2 billion range thereafter.

   -- Annual FCF after dividends of $400 million- $500 million,
      which will support the company's share repurchase program.
      In 2016 the company will use FCF and existing cash to pay
      down the $400 million term loan issued in 2015.

   -- Adjusted leverage remains in the mid-3x range over the next
      three years, assuming flat rent expense.

                       RATING SENSITIVITIES

An upgrade would be predicated on a combination of:

   -- Stabilized comp trends, defined as several consecutive
      quarters of flattish comps;

   -- Modest year-over-year gross margin improvement and SG&A
      leverage on a sustained basis, yielding EBITDA trending from

      the $2 billion level in 2016 toward $2.5 billion;

   -- Leverage trending to the low-3.0x range, based on the above
      EBITDA trend and paydown of the company's $400 million term
      loan.

Future developments that may, individually or collectively, lead to
a negative rating action include continued sales weakness driving
EBITDA to around $1.7 billion and adjusted leverage towards 4x.

                             LIQUIDITY

Gap has maintained strong liquidity, with an unused $500 million
revolver and cash and cash equivalents of $1.4 billion as of
Jan. 30, 2016.  The company generated FCF after dividends of $500
million in 2015 and Fitch expects FCF to range from $400 million-
$500 million annually over the next three years.  Fitch expects FCF
to be directed towards the repayment of the company's $400 million
term loan in 2016 and towards share repurchases thereafter.

The company may also use some of its excess balance sheet cash for
share repurchases, but is nonetheless expected to retain sufficient
cash to handle its seasonal working capital needs without having to
tap its $500 million revolver maturing May 2020.

FULL LIST OF RATING ACTIONS

Fitch has downgraded these ratings:

The Gap, Inc.

   -- Long-Term IDR to 'BB+' from 'BBB-';
   -- $500 million senior unsecured revolving credit facility to
      'BB+/RR4' from 'BBB-';
   -- Senior unsecured notes to 'BB+/RR4' from 'BBB-'.

The Rating Outlook is Stable.


GELTECH SOLUTIONS: Obtains $150,000 Loan from President
-------------------------------------------------------
GelTech Solutions, Inc., issued Mr. Michael Reger, the Company's
president and principal shareholder, a $150,000 7.5% secured
convertible note in consideration for a $150,000 loan on May 9,
2016, according to a regulatory filing with the Securities and
Exchange Commission.  The note is convertible at $0.36 per share
and matures on Dec. 31, 2020.  Repayment of the note is secured by
all of the Company's assets including its intellectual property and
inventory in accordance with a secured line of credit agreement
between the Company and Mr. Reger.  Additionally, the Company
issued Mr. Reger 208,334 two-year warrants exercisable at $2.00 per
share.  

All of the securities were issued without registration under the
Securities Act of 1933 in reliance upon the exemption provided in
Section 4(a)(2) and Rule 506(b) thereunder

                           About GelTech

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

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

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

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


GERMAN PELLETS: Hires Opportune's Gaston as CRO
-----------------------------------------------
German Pellets Texas, LLC and its debtor-affiliates seek permission
from the U.S. Bankruptcy Court for the Eastern District of Texas to
employ Bryan M. Gaston of Opportune, LLP as their Chief
Restructuring Officer.

Opportune will make available to the Debtors Bryan M. Gaston, a
Managing Director in Opportune's Restructuring Practice to serve in
the role of Chief Restructuring Officer for the Debtors. The CRO
shall devote such time to the performance of his services
hereunder, including onsite involvement at the Debtors' offices as
necessary, as he determines appropriate in his sole discretion. The
CRO will be retained by and report to the Debtors' members,
managers, board of directors, or their equivalent.

Subject to his business judgment and fiduciary responsibilities and
with the assistance of Debtor management, the CRO:

     -- will assume a lead management position in guiding the
Debtors through their Chapter 11 reorganization effort and the
evaluation, development, negotiation, and implementation of
activities surrounding such restructuring efforts;

     -- will determine the retention and use of other
restructuring-related professionals in this case; and

     -- will be granted authority to evaluate, implement, and
manage cost reduction, operational improvement, liquidity
enhancement and capital structure optimization measures necessary
to preserve and maximize the value and efficiency of the Debtors'
assets.

The CRO will have primary responsibility for these Reorganization
Efforts:

     -- make restructuring process decisions

     -- potential sale of Debtor assets

     -- negotiations with stakeholders and counterparties

     -- the review and development of an material drafted for
consumption outside the Debtors

     -- development of any business plan, disclosure statement or
proposed plan of reorganization

     -- approval of any new expenditures or cash payments

     -- management of the financial and operational reporting
processes to all constituents

     -- make business and financial decisions with respect to any
Debtor-in-Possession or similar financing sought or in place

     -- make decisions with respect to the Debtors' operational and
personnel

     -- engagement in day-to-day normal business operations

     -- preparations of Debtors' Schedule of Assets and
Liabilities, Statements of Financial Affairs, DIP budgets, Monthly
Operating Reports and cash flow forecasts

      -- in general, assist the Debtors in the preparation of
ongoing documents and disclosures required by the Court or the
Debtors' stakeholders from time to time

      -- make decisions with respect to all professionals engaged
by, strategies developed, and activities taken by the Debtors'
related to the Reorganization Efforts   

Mr. Gaston and the other Opportune professionals will be paid at
these hourly rates:

   Chief Restructuring Officer                    $665
   Director                                       $475
   Managers                                       $425
   Senior Consultants                             $385
   Consultants                                    $325

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

Bryan M. Gaston, Managing Director of Opportune 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.

Opportune LLP may be reached at:

        Bryan M. Gaston
        Opportune LLP
        711 Louisiana Suite 1770
        Houston, TX 77002
        E-mail: bgaston@opportune.com

Texas Pellets, Inc., based in Woodville, Texas, filed a Chapter 11
petition (Bankr. E.D. Tex. Case No. 16-90126) on April 30, 2016,
listing $100 million to $500 million in both assets and
liabilities.  The petition was signed by Anna Katherin Leibold,
president and chief executive officer.

German Pellets Texas, LLC, also based in Woodville, Texas, filed a
Chapter 11 petition (Bankr. E.D. Tex. Case No. 16-90127) on April
30, 2016, listing $10 million to $50 million in both assets and
liabilities.  The petition was signed by Peter H. Leibold, its
chief executive officer.

The cases have been jointly administered under Texas Pellets' case.
Judge Bill Parker presides over the cases.  William Steven Bryant,
Esq., at Locke Lord LLP, serves as counsel to the Debtors.


GERMAN PELLETS: Hires Searcy & Searcy as Local Co-counsel
---------------------------------------------------------
German Pellets Texas, LLC seeks authorization from the U.S.
Bankruptcy Court for the Eastern District of Texas to employ Searcy
& Searcy, P.C. as local/conflicts co-counsel.

The Debtor desire to employ Searcy & Searcy to represent them as
local/conflicts co-counsel with Locke Lord, LLP in the bankruptcy
proceeding.

Searcy & Searcy will be paid at these hourly rates:

       Jason R. Searcy      $400
       Joshua P. Searcy     $275
       Callan C. Searcy     $200
       Paraprofessionals    $100

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

Jason Searcy 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.

Searcy & Searcy can be reached at:

       Jason R. Searcy, Esq.
       Joshua P. Searcy, Esq.
       Callan Clark Searcy, Esq.
       SEARCY & SEARCY, P.C.
       P.O. Box 3929
       Longview, TX 75606
       Tel: (903) 757-3399
       Fax: (903) 757-9559
       E-Mail: jsearcy@jrsearcylaw.com
               joshsearcy@jrsearcylaw.com
               ccsearcy@jrsearcylaw.com

Texas Pellets, Inc., based in Woodville, Texas, filed a Chapter 11
petition (Bankr. E.D. Tex. Case No. 16-90126) on April 30, 2016,
listing $100 million to $500 million in both assets and
liabilities.  The petition was signed by Anna Katherin Leibold,
president and chief executive officer.

German Pellets Texas, LLC, also based in Woodville, Texas, filed a
Chapter 11 petition (Bankr. E.D. Tex. Case No. 16-90127) on April
30, 2016, listing $10 million to $50 million in both assets and
liabilities.  The petition was signed by Peter H. Leibold, its
chief executive officer.

The cases have been jointly administered under Texas Pellets' case.
Judge Bill Parker presides over the cases.  William Steven Bryant,
Esq., at LOCKE LORD LLP, serves as counsel to the Debtors.


GFL ENVIRONMENTAL: DBRS Confirms 'B' Issuer Rating
--------------------------------------------------
DBRS Limited confirmed the Issuer Rating of GFL Environmental Inc.
at B. The trend remains Stable. Additionally, DBRS has downgraded
the recovery rating of the Senior Unsecured Notes to RR5 and
downgraded the associated instrument rating to B(low) to align the
instrument rating with the RR5 recovery rating. The downgrade
reflects a lower recovery caused by increased leverage, including
an increase in the size of the Company's senior secured revolving
credit facility.

GFL previously announced that it closed an issuance of US$200
million of senior unsecured debt, in addition to the US$300 million
of senior unsecured debt that was issued in February 2016, and that
it used the net proceeds to repay all outstanding borrowings under
its existing senior secured revolving credit facility. DBRS
anticipates that the remaining cash from the issuance will be used
to fund growth investments, including acquisitions, such as the
recently announced acquisition of Detox Environmental Ltd.

The Company has been in rapid growth mode over the last few years,
mostly through debt-financed acquisitions. Additionally, GFL has
been successful in retaining and winning new municipal contracts;
however, the investments needed to support the new contracts have
added to the Company's debt load. GFL has a highly leveraged
balance sheet. Nevertheless, the Company has previously maintained
its leverage as measured by adjusted debt-to-run rate EBITDA ratio
(as defined by DBRS) of 5.0 times (x) to 5.5x through 2015. On a
pro forma basis, the Company's current adjusted debt-to-run rate
EBITDA ratio is 5.7x and, although aggressive, the leverage is
acceptable for the B rating.

The Company's reported operating results in 2015 were in line with
DBRS's expectations, with reasonable revenue growth and improved
margins; however, the increase in interest expense associated with
the new debt will reduce the margin for error, increasing the
financial risk going forward. DBRS also notes that the Company's
$1.041 billion in acquisitions that closed in Q1 F2016 have also
affected its business risk profile. The Company has further
solidified its market position in Ontario and entered the Québec
marketplace as well as continued to grow its soil treatment
business. The pace of GFL's acquisition activities and the size of
recent acquisitions have increased integration risk, despite the
Company's good track record.

DBRS expects the current ratings to remain stable over the short
term; however, should GFL continue to fund growth through the
issuance of new debt or EBITDA in newly acquired companies be below
expectations, this may lead to negative rating actions. Increasing
contributions from recent acquisitions and contract wins should
support strong revenue growth. DBRS expects operating profit to
grow faster than revenue because of strong margins in the acquired
companies and benefits from continued restructuring. DBRS also
expects the Company to generate modest free cash flow with positive
overall cash generation as a result of the increase in equity and
debt financing. Capital expenditures are expected to increase in
line with earnings, but DBRS anticipates that acquisitions will
slow for the remainder of the year.

Pursuant to its rating criteria on recovery ratings for
non-investment grade corporate issuers, DBRS has created a default
scenario for GFL to analyze when and under what circumstances a
default could hypothetically occur and the potential recovery of
the Company’s debt in the event of such default. DBRS has
determined GFL’s estimated value at default by using an EBITDA
multiple valuation approach, using a 4.0x multiple of normalized
EBITDA. Based on the default scenario, the Senior Unsecured Notes
would have a recovery estimated between 10% and 30%, which aligns
with a recovery rating of RR5; therefore, the instrument rating of
the Senior Unsecured Notes is B (low), one notch lower than the
Issuer Rating.


GREAT LAKES: Auction Cancelled, Objections to Sale Motion Filed
---------------------------------------------------------------
Great Lakes Comnet, Inc., and Comlink, L.L.C. submit to the U.S.
Bankruptcy Court for the Western District of Michigan, a Notice of
Cancellation of Auction and Designation of Winning Bidder.

The Debtors relate that the auction was cancelled because no
Qualified Bids, other than the Stalking Horse Bid, were received by
the Qualified Bid Deadline.

The Debtors entered into an Amended and Restated Purchase Agreement
with Everstream GLC Holding Company LLC on March 13, 2016.  The
Debtors declared Everstream the Winning Bidder.

          Daniel M. McDermott, United States Trustee for Region 9's
Objection to the Debtors' Bid Procedures and Sale Motion.

Daniel M. McDermott, United States Trustee for Region 9, objected
to the Debtors' Bid Procedures and Sale Motion.  Mr. McDermott
cites the following reasons, among others, for his objection:

     (1) The proposed sale outside of a Plan should be denied
because it appears that (a) there will be no meaningful
distribution to unsecured creditors; and (b) it will result in an
administrative insovlency; and

     (2) No valid business justification exists for the sale.

          Merit Network Inc.'s Objection to the Debtors' Bid
Procedures and Sale Motion.  

Merit contends that in approving the Bid Procedures, the Court
ordered that “Merit Network Inc. and the U.S. Department of
Commerce's objections to the sale are preserved and will be heard
at the Sale Hearing" on May 10, 2016.  Merit notes that no bids
were received by the bid deadline and the auction was not held.

"Given the foregoing, Merit relies on its Objections to the
Purchase and Sale Agreement, which have been preserved, and
reasserts those Objections as its Objections to the remaining
relief requested in the Sales Motion and to the entry of the
Proposed Sales Order for all the reasons previously stated in
Merit's Objections to the Bid Procedures and Sales Motion," Merit
avers.  

Municipal Employees' Retirement System of Michigan is represented
by:

         Julie Beth Teicher, Esq.
         ERMAN, TEICHER, ZUCKER & FREEDMAN, P.C.
         400 Galleria Officentre, Ste. 444
         Southfield, MI 48034
         Telephone: (248)827-4100
         E-mail: jteicher@ermanteicher.com

Great Lakes Comnet, Inc., and its affiliated debtors are
represented by:

         Jonathan S. Green, Esq.
         Stephen S. LaPlante, Esq.
         Marc N. Swanson, Esq.
         MILLER, CANFIELD, PADDOCK AND STONE, P.L.C.
         150 West Jefferson, Suite 2500
         Detroit, MI 48226
         Telephone: (313)496-7997
         Facsimile: (313)496-8478
         E-mail: greenj@millercanfield.com
                 laplante@millercanfield.com
                 swansonm@millercanfield.com

Daniel M. McDermott, United States Trustee for Region 9, is
represented by:

         Michelle M. Wilson, Esq.
         OFFICE OF THE UNITED STATES TRUSTEE
         125 Ottawa Ave. NW, Suite 200R
         Grand Rapids, Michigan 49503
         Telephone: (616)456-2002, ext. 119

Merit Network, Inc., is represented by:

         Ryan K. Kauffman, Esq.
         Michael S. Ashton, Esq.
         FRASER TREBILCOCK DAVIS & DUNLAP, P.C.
         124 W. Allegan, Suite 1000
         Lansing, MI 48933
         Telephone: (517)377-0881
         E-mail: rkauffman@fraserlawfirm.com
                 mashton@fraserlawfirm.com

                     About Great Lakes Comnet

East Lansing, Michigan-based Great Lakes Comnet, Inc., owns and
operates a 6,500 mile fiber network serving the carrier and
enterprise sectors in Michigan, with the network extending to
Ohio,
Indiana, Illinois, Wisconsin, and Minnesota.  GLC's services
include transport, dark fiber sales, cloud and datacenter
operations, toll resale, toll routes, local switching, tandem
switching and SS7.

GLC's tandem switch is used -- in conjunction with tandem
transport
services provided by GLC and Westphalia Telephone Company -- to
send long distance calls from the network of one
telecommunications
carrier to the network of another telecommunications carrier.  By
using the services provided by GLC and WTC, interexchange carriers
such as AT&T, are able to exchange interstate long distance calls
with local telecommunications service providers, namely, rural
Incumbent Local Exchange Carriers and competitive LECs, located
throughout Michigan, where the rural ILECs and CLECs operate "end
office switches" homing on GLC's tandem switch.

Comlink provides data and communication services, including
dedicated ultra-high-speed bandwidth data transmission, Ethernet
private line services and virtual private network services,
cloud-based and colocation data center services, and data
management services to Consumers Energy, several hospital systems,
municipalities and state correctional facilities.

Great Lakes Comnet, Inc. and Comlink, LLC filed Chapter 11
bankruptcy petitions (Bankr. W.D. Mich. Case Nos. 16-00290 and
16-00292, respectively) on Jan. 25, 2016.  The petitions were
signed by John Summersett as chief executive officer.  The Debtors
estimated both assets and debts in the range of $10 million to $50
million.

The Debtors have engaged Miller Canfield Paddock & Stone PLC as
counsel, Alix Partners LLP as restructuring advisors and Kurtzman
Carson Consultants, LLC as claims, balloting and noticing agent.


GREAT LAKES: Court Sets Schedule for Evidentiary Hearing
--------------------------------------------------------
Judge John T. Gregg of the U.S. Bankruptcy Court for the Western
District of Michigan, issued a Scheduling Order after Merit
Network, Inc. and Debtors Great Lakes Comnet, Inc., et al.,
requested that the Court conduct an evidentiary hearing regarding
the proposed assumption and assignment of the agreement between the
Debtors and Merit.

The Court's Bidding Procedures Order provided that in the event any
non-debtor counterparty filed an objection to the Cure Schedule,
including the amounts identified as necessary to cure any default
or the proposed assumption and assignment of any executory contract
or unexpired lease, a hearing was to be held on the cure amount and
the proposed assumption and assignment on April 8, 2016.  Merit
timely filed an objection to the proposed assumption and assignment
of an executory contract between the Debtors and Merit.

The parties requested the hearing to be held on April 26, 2016,
prior to the auction scheduled for the sale of substantially all of
the Debtors' assets.

Judge Gregg's Scheduling Order, contains, among others, the
following relevant terms:

     (a) Discovery: The parties shall engage in good faith,
abbreviated discovery, to the extent discovery is even needed. The
parties shall complete discovery by April 19, 2016. In the event
that either party believes that discovery is not being conducted in
good faith, the court may be notified upon the filing of a motion.


     (b) Response Brief: The Debtors shall file a response to the
Objection by no later than April 14, 2016 at 4:00 p.m.

     (c) Exhibits and Witness Lists: By no later than April 21,
2016, the parties shall (i) file with the court and serve witness
lists identifying witnesses who may be called to testify at the
evidentiary hearing, and (ii) file with the court and serve
exhibits to be used in connection with the evidentiary hearing.  On
or before April 22, 2016, the parties shall meet and confer in
order to stipulate, if possible, to facts and the admission of
exhibits prior to the evidentiary hearing. Any objections to such
exhibits must be filed by April 25, 2016 at 12:00 p.m.

                     About Great Lakes Comnet

East Lansing, Michigan-based Great Lakes Comnet, Inc., owns and
operates a 6,500 mile fiber network serving the carrier and
enterprise sectors in Michigan, with the network extending to
Ohio,
Indiana, Illinois, Wisconsin, and Minnesota.  GLC's services
include transport, dark fiber sales, cloud and datacenter
operations, toll resale, toll routes, local switching, tandem
switching and SS7.

GLC's tandem switch is used -- in conjunction with tandem
transport
services provided by GLC and Westphalia Telephone Company -- to
send long distance calls from the network of one
telecommunications
carrier to the network of another telecommunications carrier.  By
using the services provided by GLC and WTC, interexchange carriers
such as AT&T, are able to exchange interstate long distance calls
with local telecommunications service providers, namely, rural
Incumbent Local Exchange Carriers and competitive LECs, located
throughout Michigan, where the rural ILECs and CLECs operate "end
office switches" homing on GLC's tandem switch.

Comlink provides data and communication services, including
dedicated ultra-high-speed bandwidth data transmission, Ethernet
private line services and virtual private network services,
cloud-based and colocation data center services, and data
management services to Consumers Energy, several hospital systems,
municipalities and state correctional facilities.

Great Lakes Comnet, Inc. and Comlink, LLC filed Chapter 11
bankruptcy petitions (Bankr. W.D. Mich. Case Nos. 16-00290 and
16-00292, respectively) on Jan. 25, 2016.  The petitions were
signed by John Summersett as chief executive officer.  The Debtors
estimated both assets and debts in the range of $10 million to $50
million.

The Debtors have engaged Miller Canfield Paddock & Stone PLC as
counsel, Alix Partners LLP as restructuring advisors and Kurtzman
Carson Consultants, LLC as claims, balloting and noticing agent.


GREAT LAKES: MERS Objects to MERS Contract Assignment
-----------------------------------------------------
Municipal Employees' Retirement System of Michigan submitted to the
U.S. Bankruptcy Court for the Western District of Michigan a
limited objection to the sale of Great Lakes Comnet, Inc., et al.'s
assets.

MERS objects to the sale of the Debtors' assets to Everstream GLC
Holding Company, LLC, to the extent the Debtors and Everstream
attempt to effectuate an assumption and assignment of the MERS
Contract to Everstream as part of the sale.

MERS relates that it is identified in the Debtors' Assumption and
Assignment Notice as the counterparty to contracts with Comlink,
L.L.C., and on the Cure Schedule as Account #A91919192624-R Circuit
ID: COMPP1-11-00023, Contract ID MI-01006 and Account
#A91919192624-R; Account ID: 171, Contract ID MI-01972 ("MERS
Contract").  It further relates that the MERS Contract has a zero
cure amount.

MERS tells the Court that it has been advised that Everstream was
the Winning Bidder.  It further tells the Court that the MERS
Contract, which had a term of three years, commenced in early
November 2012 and expired in October or early November 2015.  MERS
notes that pursuant to the Master Service Agreement, the Contract
is now on a month-to-month basis.  It asserts that as an expired
contract, the MERS Contract cannot be assigned to Everstream.

MERS contends that it is required to abide by specific ethics and
procurement policies which requires it, among other things, to
obtain competitive bids and prohibit it from entering into a
contract with any entity which may be related to a MERS employee or
Board Member.  MERS further contends that the MERS Contract cannot
simply be assumed and assigned to Everstream, if otherwise
assignable, without satisfying the contract policies by which MERS
is bound.

Municipal Employees' Retirement System of Michigan is represented
by:

         Julie Beth Teicher, Esq.
         ERMAN, TEICHER, ZUCKER & FREEDMAN, P.C.
         400 Galleria Officentre, Ste. 444
         Southfield, MI 48034
         Telephone: (248)827-4100
         E-mail: jteicher@ermanteicher.com

                     About Great Lakes Comnet

East Lansing, Michigan-based Great Lakes Comnet, Inc., owns and
operates a 6,500 mile fiber network serving the carrier and
enterprise sectors in Michigan, with the network extending to
Ohio,
Indiana, Illinois, Wisconsin, and Minnesota.  GLC's services
include transport, dark fiber sales, cloud and datacenter
operations, toll resale, toll routes, local switching, tandem
switching and SS7.

GLC's tandem switch is used -- in conjunction with tandem
transport
services provided by GLC and Westphalia Telephone Company -- to
send long distance calls from the network of one
telecommunications
carrier to the network of another telecommunications carrier.  By
using the services provided by GLC and WTC, interexchange carriers
such as AT&T, are able to exchange interstate long distance calls
with local telecommunications service providers, namely, rural
Incumbent Local Exchange Carriers and competitive LECs, located
throughout Michigan, where the rural ILECs and CLECs operate "end
office switches" homing on GLC's tandem switch.

Comlink provides data and communication services, including
dedicated ultra-high-speed bandwidth data transmission, Ethernet
private line services and virtual private network services,
cloud-based and colocation data center services, and data
management services to Consumers Energy, several hospital systems,
municipalities and state correctional facilities.

Great Lakes Comnet, Inc. and Comlink, LLC filed Chapter 11
bankruptcy petitions (Bankr. W.D. Mich. Case Nos. 16-00290 and
16-00292, respectively) on Jan. 25, 2016.  The petitions were
signed by John Summersett as chief executive officer.  The Debtors
estimated both assets and debts in the range of $10 million to $50
million.

The Debtors have engaged Miller Canfield Paddock & Stone PLC as
counsel, Alix Partners LLP as restructuring advisors and Kurtzman
Carson Consultants, LLC as claims, balloting and noticing agent.


GREAT LAKES: Seek Substantive Consolidation of Bankruptcy Estates
-----------------------------------------------------------------
Great Lakes Comnet, Inc., and Comlink, L.L.C., ask the U.S.
Bankruptcy Court for the Western District of Michigan to
substantively consolidate their bankruptcy estates, such that the
assets and liabilities of each Debtor are treated as the assets and
liabilities of both Debtors.

The Debtors relate that their financial and operational
relationships are intertwined and commingled and, to a major
extent, they operate and have functionally operated as a single
entity.  The Debtors contend that it is not possible to treat each
of the Debtors on a standalone basis with what, in effect, should
be separate borrowing facilities, budgets and operations.  They
further contend that historically, this is not how the Debtors have
operated or done business.

The Debtors tell the Court that assets and liabilities have been
commingled between them, without regard to their separate corporate
identities or individual corporate purposes.  The Debtors argue
that it is impractical, if not impossible, to isolate, determine
and segregate the individual and separate assets and liabilities of
each of the Debtors and any attempt to do so would impose undue
financial burdens on the estates of the Debtors to the detriment of
their creditors.

Great Lakes Comnet, Inc. and its affiliated Debtors are represented
by:

          Jonathan S. Green, Esq.
          Stephen S. LaPlante, Esq.
          Ronald A. Spinner, Esq.
          MILLER, CANFIELD, PADDOCK AND STONE, P.L.C.
          150 West Jefferson, Suite 2500
          Detroit, MI 48226
          Telephone: (313)496-7997
          Facsimile: (313)496-8478
          E-mail: greenj@millercanfield.com
                 laplante@millercanfield.com
                 spinnerr@millercanfield.com

                     About Great Lakes Comnet

East Lansing, Michigan-based Great Lakes Comnet, Inc., owns and
operates a 6,500 mile fiber network serving the carrier and
enterprise sectors in Michigan, with the network extending to
Ohio,
Indiana, Illinois, Wisconsin, and Minnesota.  GLC's services
include transport, dark fiber sales, cloud and datacenter
operations, toll resale, toll routes, local switching, tandem
switching and SS7.

GLC's tandem switch is used -- in conjunction with tandem
transport
services provided by GLC and Westphalia Telephone Company -- to
send long distance calls from the network of one
telecommunications
carrier to the network of another telecommunications carrier.  By
using the services provided by GLC and WTC, interexchange carriers
such as AT&T, are able to exchange interstate long distance calls
with local telecommunications service providers, namely, rural
Incumbent Local Exchange Carriers and competitive LECs, located
throughout Michigan, where the rural ILECs and CLECs operate "end
office switches" homing on GLC's tandem switch.

Comlink provides data and communication services, including
dedicated ultra-high-speed bandwidth data transmission, Ethernet
private line services and virtual private network services,
cloud-based and colocation data center services, and data
management services to Consumers Energy, several hospital systems,
municipalities and state correctional facilities.

Great Lakes Comnet, Inc. and Comlink, LLC filed Chapter 11
bankruptcy petitions (Bankr. W.D. Mich. Case Nos. 16-00290 and
16-00292, respectively) on Jan. 25, 2016.  The petitions were
signed by John Summersett as chief executive officer.  The Debtors
estimated both assets and debts in the range of $10 million to $50
million.

The Debtors have engaged Miller Canfield Paddock & Stone PLC as
counsel, Alix Partners LLP as restructuring advisors and Kurtzman
Carson Consultants, LLC as claims, balloting and noticing agent.


GROVE PLAZA: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Grove Plaza Partners, LLC
        303 Twin Dolphin Drive, Suite 600
        Redwood Shores, CA 94065

Case No.: 16-30531

Type of Business: Single Asset Real Estate

Chapter 11 Petition Date: May 13, 2016

Court: United States Bankruptcy Court
       Northern District of California (San Francisco)

Judge: Hon. Dennis Montali

Debtor's Counsel: Reno F.R. Fernandez, Esq.
                  MACDONALD FERNANDEZ LLP
                  221 Sansome St. 3rd Fl.
                  San Francisco, CA 94104
                  Tel: (415)362-0449
                  E-mail: reno@macfern.com

Estimated Assets: $10 million to $50 million

Estimated Debts: $10 million to $50 million

The petition was signed by George A. Arce, Jr., manager.

List of Debtor's 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Ace Roofing &                      Roofing Services       $1,100
Waterproofing Systems

Amor Architectural                 Pending Lawsuit       $16,896
Corporation

APM Property                           Property            $5,737
Maintenance, Inc.                    Maintenance

Armanino                               Services            $1,370
Email: info@armaninollp.com

Brown Rudnick LLP                   Legal Services        $64,355

CB Commercial                         Commission          $55,000

CBRE, Inc.                          Pending Lawsuit       $95,000
Email: mark.thompson@com

Commercial Maintenance           Janitorial Services      $20,000
Service

Corporate Alliance                Security Services        $4,800
Strategies, Inc.

Environmental Management              Services               $806
Solutions, Inc.

Gil Ruiz Landscape                    Services             $5,100
Maintenance

Nadel Architects, Inc.                Services             $3,113
Email: danderson@nadelarc.com

Ontario Municipal Utilities Co.   Utility Services         $9,585

PDM Development, Inc.                 Services            $10,261

Penny Plumbing                    Plumbing Services        $2,800

Perry Roofing, Inc.                Roofing Services        $5,900

Southern California                  Electricity           $4,142
EDISON

Stanley Security Solutions         Security Services       $2,104

Tyco Intergrated                   Security Services       $1,211
Security LLC

Tyler Lighting                    Electrical Services      $3,526
Services Inc.


HAGGEN HOLDINGS: Court Approves Walgreen Asset Purchase Agreement
-----------------------------------------------------------------
Judge Kevin Gross of the U.S. Bankruptcy Court for the District of
Delaware, approved the asset purchase agreement between debtor
Haggen, Inc. and Walgreen Co.

Judge Gross also authorized the sale of the Debtors' Assets free
and clear of liens, claims, interests and encumbrances.

Haggen, Inc. owns and operates a prescription pharmacy known as
Haggen Food & Pharmacy, located at 201 37th Avenue Southeast,
Puyallup, Washington.

The Asset Purchase Agreement contains, among others, the following
relevant terms:

     (1) Assets to be Purchased: Some or all of the Pharmacy's
stock of prescription pharmaceutical inventory and prescription
files located on the Premises.

     (2) Purchase Price: Shall be an amount equal to the Records
Amount, plus the Inventory Amount.  The Inventory Amount shall be
the aggregate value of the Purchased Inventory as of the Closing
Date.  The value of the Inventory Amount shall not exceed $250,000.
The Records Amount is equivalent to $205,000.  The parties agree
that the Records Amount will decrease in the event there is a
reduction in the Current Volume.

     (3) Closing: The closing of the purchase and sale of the
Purchased Assets will occur no later than three days after the date
of entry of the Sale Order or another mutually agreeable date.

Judge Gross held that the consideration to be paid by the Buyer
under the Purchase Agreement:

     (i) constitutes fair and reasonable consideration for the
Assets;

     (ii) is the highest and best offer for the Assets;

     (iii) will provide a greater recovery for the Debtors' estates
and creditors than would be provided by any other practically
available alternative; and

     (iv) constitutes reasonably equivalent value and fair
consideration.

                       About Haggen Holdings

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

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

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

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

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

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

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


HAGGEN HOLDINGS: Privacy Ombudsman Recommends Transfer of Info
--------------------------------------------------------------
Alan Chapell, the Consumer Privacy Ombudsman appointed for Haggen
Holdings, LLC, issued a supplemental report.

The Debtor seeks to transfer certain pharmaceutical prescription
information to Walgreen Co.  The Debtors collected "personally
identifiable information" which falls under the definition of
protected health information as stipulated by the Health Insurance
Portability and Accountability Act of 1996.

The Consumer Privacy Ombudsman's recommendation hinges on whether
Purchaser meets the definition of a "Qualified Buyer."  A
"Qualified Buyer" means an entity that: (i) concentrates in the
same business and market as Debtor; (ii) expressly agrees to be
Debtor's successor-in-interest as to the customer information;
(iii) agrees to be responsible for any violation of that policy
following the date of purchase; and (iv) shall not disclose, sell,
or transfer customers' PHI to any third party in a manner
inconsistent with Debtor's Privacy Policy.

If Purchaser agrees in writing to meet the definition of Qualified
Buyer, the Court should approve the transfer of consumer
information, including Patient PHI from Debtor to that Purchaser,
provided that:

   a. The Purchaser agrees to be bound and meet the standards
established by Debtor's Privacy Policies (e.g., the NPP);

   b. The Purchaser agrees to notify by, mail or e-mail (to the
extent a valid e-mail address is available), each customer who has
an active prescription of the sale transaction; and

   c. The Debtor and/or the Purchaser agree to post a notice at
each pharmacy involved in a sale transaction in accordance with
applicable state law advising the individuals of the transfer of
their prescriptions and their right to request the transfer of
their prescriptions and PHI to a pharmacy of their choice.

                   About Haggen Holdings, LLC

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

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

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

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

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

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

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


HECK INDUSTRIES: $300,000 Batch Plant Sale to Cajun Approved
------------------------------------------------------------
Judge Douglas D. Dodd on May 12, 2016, entered an order authorizing
concrete supplier Heck Industries, Inc., to sell a cement batch
plant and certain assets to Cajun Ready Mix Concrete, LLC for a
lump sum cash payment of $300,000.

The Debtor owns various equipment used in connection with its
cement supply operations, including a cement batch plant and
related assets located on property bearing municipal address 38429
LA-30, Gonzales, Louisiana 70737 ("Gonzales Batch Plant").

The Debtor agreed, through arm's-length negotiations, to sell the
Gonzales Batch Plant to Cajun for a lump sum cash payment of
$300,000.  

A copy of the Sale Order is available for free at:

          http://bankrupt.com/misc/Heck_94_Sale_Ord.pdf

                       About Heck Industries

Heck Industries, Inc., sought Chapter 11 protection (Bankr. M.D.
La. Case No. 16-10516) on April 29, 2016, in Baton Rouge,
Louisiana.  Hon. Douglas D. Dodd is the case judge.

The Debtor is the owner of a concrete supply business which has
operated throughout Louisiana since 1957.  The Debtor's chapter 11
case was precipitated by a severe strain on collection of its
accounts receivable due to, among other things, unfortunate
weather
conditions hampering the Debtor's ability to complete numerous
jobs
awarded to it.

The Debtor estimated $1 million to $10 million in assets and debt.

The Debtor's attorneys:

         STEFFES, VINGIELLO & McKENZIE, L.L.C.
         William E. Steffes
         Noel Steffes Melancon
         Barbara B. Parsons
         13702 Coursey Blvd.Building 3
         Baton Rouge, LA 70817
         Tel: 225-751-1751
         Fax: 225-751-1998
         E-mail: nmelancon@steffeslaw.com


HOLOGIC INC: S&P Affirms 'BB' CCR & Revises Outlook to Positive
---------------------------------------------------------------
S&P Global Ratings said it has affirmed its ratings, on medical
device manufacturer Hologic Inc., including the 'BB' corporate
credit rating, and revised the outlook to positive from stable.

The outlook revision reflects S&P's increased confidence in the
company's ability and commitment to maintaining debt leverage below
3x.  Hologic has steadily decreased debt to EBITDA from leverage in
excess of 4x in 2014 and stated its intention to keep this ratio
under 3x.

Hologic Inc. operates as a developer, manufacturer, and supplier of
diagnostics products, medical imaging systems, and surgical
products to serve health care needs, with a strong position in
women's health.  The company operates through four segments:
Diagnostics, Breast Health, GYN Surgical, and Skeletal Health.
Diagnostics contributed 45% of revenue in fiscal year 2015 while
breast health segment made up 39% of sales.  Furthermore, 61% of
the business comes from consumables, 23% from capital sales, and
the remainder from services.

In S&P's assessment the business risk profile remains fair, despite
improving operating trends, and reflects the stable revenue streams
generated from its two predominant business lines. Furthermore, the
company has shown an ability to increase sales, yielding an 8.7%
compound annual growth rate (CAGR) since 2009. Hologic is targeting
international expansion as an avenue for growth, and in S&P's view
it has the experience and ability to further its footprint.

The diagnostics business operates within a highly competitive
environment with constant pricing pressure, although the company
has a strong market share.  Revenues from this segment are the
highest contributor to the portfolio and materially influences
overall results.

The breast health segment, with over 60% U.S. market share,
benefits greatly from economies of scale with respect to R&D
spending, an advantage we believe will preserve its pricing power
and share.  With the U.S. providing a stable revenue base, S&P
expects the company to continue to expand this segment
internationally, where penetration rates are not as high.  While
the scale advantage is not the same as it is domestically, S&P
expects the expansion will help the company maintain margins.

In S&P's assessment, the financial risk profile is significant,
characterized by leverage of 3.3x at the end of fiscal 2015 and
funds from operations (FFO) to debt of about 18%.  Although S&P
expects Hologic to delever further to around 2.5x by fiscal
year-end 2016, the company has not yet demonstrated a tolerance to
sustain leverage below 3.0x.  Given its large cash generation, S&P
expects the company to dedicate a substantial portion of free cash
flow toward paying down debt.

S&P's positive outlook reflects its expectation that Hologic will
continue to lower its debt levels as it generates more cash and
aims to operate with a debt to EBTIDA below 3x.  Given its very
short track record operating at this level, S&P sees some risk to
its base case that the company is committed to its lower leverage.

S&P would consider a revision to a stable outlook if the company
takes on another debt-financed acquisition, thereby disrupting the
trajectory S&P currently sees, or if competition in the breast
health segment brought margins in line with the other operating
segments, thereby hurting expected EBITDA generation.

An upgrade could occur in the coming year if the company stays
committed to its plans of paying down debt and reducing leverage
below 3x and S&P sees successive quarters of debt paydown.  Over
time, improved geographic or product diversification could
strengthen the company's business risk, which could be an
alternative path to an upgrade.  This could be done through gradual
organic growth and continued expansion in markets outside the U.S.
or a transformative acquisition that the company funds primarily
through internally generated cash.


HOMER CITY: S&P Lowers CCR to 'CCC-', Off CreditWatch Negative
--------------------------------------------------------------
S&P Global Ratings said it lowered its corporate credit rating on
Homer City Generation L.P. to 'CCC-' from 'B-' and removed the
rating from CreditWatch negative, where S&P placed it on Feb. 17,
2016.  The outlook is negative.  S&P also lowered the senior
secured debt rating to 'CCC' from 'B+'.  In addition, S&P revised
the recovery rating on the senior secured debt to '2' from '1'. The
'2' rating indicates expectations for substantial (70-90%; upper
half of the range) recovery if a default occurs).

The rating actions on Homer City stems from several factors that
resulted in deteriorating credit quality.  Cash on hand decreased
to $25 million on Dec. 31, 2015, from $103 million on Sept. 30,
2015, resulting in a severely diminished liquidity position.  The
company will likely incur a significant cash flow deficit in light
of weak power prices in the PJM Interconnection market, and S&P
Global Ratings believes a default, distressed exchange, or
redemption is inevitable within the next six months.

Homer City's business risk profile has weakened to vulnerable from
weak.  This change reflects a diminished competitive position in
the PJM market and the relative disadvantage that low natural gas
prices place on coal plants with increasingly stringent emissions
requirements.  S&P expects demand growth to be lackluster in the
PJM and in the New York Independent System Operator market, and S&P
expects continued weak power prices.  Depressed demand tends to
affect coal-fired generation disproportionately because it affects
plants' capacity factors.

The negative outlook reflects S&P's view that Homer City is
unlikely to meet its October 2016 debt payments given its weak
liquidity position and forecast FFO deficit.

S&P would likely lower the rating further if its cash flow
expectations for the next few months are realized such that S&P
considers default a virtual certainty.

While unlikely, S&P could revise the outlook to stable or raise
ratings if liquidity materially improves due to, for example,
significantly better market conditions.


HORSEHEAD HOLDING: Time to Remove Actions Extended Through Aug. 30
------------------------------------------------------------------
U.S. Bankruptcy Judge Christopher S. Sontchi has extended the time
within which Horsehead Holding Corp. may seek removal of actions by
120 days through and including Aug. 30, 2016.

                  About Horsehead Holding Corp.

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

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

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

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


HYPNOTIC TAXI: DiConza Replaces W&W as Committee Counsel
--------------------------------------------------------
White and Williams LLP (W&W) asks the Bankruptcy Court for approval
to withdraw as counsel of record for the Official Committee of
Unsecured Creditors of Hypnotic Taxi LLC and for DiConza Traurig
Kadish LLP (DTK) to substitute as counsel.

On March 17, 2016, the reconstituted Committee met and determined
to replace W&W with DTK as counsel to the Committee.

On March 28, 2016, the Committee filed an application authorizing
the retention of DTK as counsel, nunc pro tunc to March 17, 2016.

W&W has communicated with DTK by telephone and e-mail to bring them
up to speed on the posture of the case, including the status of any
pending matters, and will continue to cooperate to foster an
orderly transition.  W&W requests that its withdrawal as counsel to
the Committee be without prejudice to its ability to apply to the
Bankruptcy Court for allowance and payment of compensation and
reimbursement of expenses for services rendered in connection with
its engagement as counsel to the Committee, including without
limitation with respect to the transition to DTK.

DTK can be contacted at:

         DICONZA TRAURIG KADISH LLP
         Allen G. Kadish, Esq.
         Jeffrey M. Traurig, Esq.
         630 Third Avenue
         New York, New York 10017
         Tel: (212) 682-4940
         E-mail: akadish@dtklawgroup.com
                 jtraurig@dtklawgroup.com

                       About Hypnotic Taxi

Hypnotic Taxi LLC and 21 of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. E.D.N.Y. Lead Case No. 15-43300) on
July 22, 2015.  The petition was signed by Evgeny Freidman as sole
and managing member.

The Debtors are either limited liability companies or corporations
organized under the laws of the State of New York.  The Debtors
maintain an office at 330 Butler Street, Brooklyn, New York 11217.
The Debtors each own either two or three New York City Medallions
issued by the New York City Taxi and Limousine Commission ("TLC")
and related Taxi Vehicles.  The Debtors collectively own 46
Medallions and Taxi Vehicles.

Klestadt Winters Jureller Southard & Stevens LLP serves as the
Debtors' counsel.  Judge Carla E. Craig presides over the case.

The Debtors each own either two or three medallions issued by the
New York City Taxi and Limousine Commission that permit taxi
services to be performed by the Debtors.

Hypnotic Taxi LLC disclosed total assets of $1,941,314 and total
liabilities of $2,825,401 as of the Petition Date.

The U.S. Trustee for Region 2 appointed three creditors to serve on
the official committee of unsecured creditors.  The Committee
tapped White & Williams LLP as counsel and EisnerAmper as its
accountants and financial advisors.


ILLINOIS POWER: Incurs $7 Million Net Loss in First Quarter
-----------------------------------------------------------
Illinois Power Generating Company filed with the Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
a net loss of $7 million on $99 million of revenues for the three
months ended March 31, 2016, compared to a net loss of $16 million
on $143 million of revenues for the same period in 2015.

As of March 31, 2016, Illinois Power had $1.22 billion in total
assets, $1.08 billion in total liabilities and $134 million in
total equity.

"At March 31, 2016, our liquidity consisted of $55 million of cash
on hand.  Due to the ring-fenced nature of IPH and Genco, cash at
the IPH and Genco entities may not be moved out of these entities
without meeting certain criteria.  However, cash at these entities
is available to support current operations of these entities. Based
on current projections as of March 31, 2016, we expect daily
working capital needs and capital expenditures to be sufficiently
covered by our operating cash flows and cash on hand through 2016.

"We are a party to services agreements with Dynegy and certain of
its subsidiaries for the provision of certain support services.
Effective December 31, 2015, we amended the Services Agreements to
provide that payments to Dynegy for services incurred may be
deferred based on the liquidity of certain IPH subsidiaries as of
the current month's end.  Any deferred payments, and associated
interest, will be reflected as an affiliate payable to be settled
at the discretion of Dynegy or us.  The amendment will be in place
through 2016 and will be evaluated for extension in the fourth
quarter of 2016.

"As a result of continued weak energy pricing, unsold capacity
volumes, on-going required maintenance and environmental
expenditures, as well as consideration of a $300 million debt
maturity in 2018, Dynegy management has begun a strategic review of
Genco which could include restructuring our debt to achieve a more
sustainable business model or transitioning ownership."

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

                       https://is.gd/sOSLSP

                       About Illinois Power

Illinois Power Generating Company is an electric generation
subsidiary of Illinois Power Resources, LLC, which is an indirect
wholly-owned subsidiary of Dynegy Inc.  The Company is
headquartered in Houston, Texas and were incorporated in Illinois
in March 2000.  It owns and operates a merchant generation business
in Illinois.  The Company has an 80 percent ownership interest in
Electric Energy, Inc., which it consolidates for financial
reporting purposes.  EEI operates merchant electric generation
facilities in Illinois and FERC-regulated transmission facilities
in Illinois and Kentucky.  The Company also consolidates its
wholly-owned subsidiary, Coffeen and Western Railroad Company, for
financial reporting purposes.

Illinois Power reported a net loss of $563 million on $534 million
of revenues for the year ended Dec. 31, 2015, compared to a net
loss of $48 million on $648 million of revenues for the year ended
Dec. 31, 2014.


IMAGEWARE SYSTEMS: Incurs $2.62 Million Net Loss in First Quarter
-----------------------------------------------------------------
Imageware Systems, Inc., filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
available to common shareholders of $2.62 million on $1.04 million
of revenues for the three months ended March 31, 2016, compared to
a net loss available to common shareholders of $2.53 million on
$991,000 of revenues for the same period in 2015.

As of March 31, 2016, Imageware had $5.39 million in total assets,
$3.75 million in total liabilities and $1.64 million in total
shareholders' equity.

At March 31, 2016, the Company's principal sources of liquidity
consisted of cash and cash equivalents of $1,095,000, accounts
receivable, net of $376,000, and available borrowings under the
Lines of Credit of $5,500,000.  As of March 31, 2016, the Company
had negative working capital of $523,000.  The Company has a
history of recurring losses, and as of March 31, 2016, the Company
has incurred a cumulative net loss of approximately $148,505,000.

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

                        https://is.gd/qlJgz4

                       About ImageWare Systems

Headquartered in San Diego, California, ImageWare Systems, Inc.,
is a leader in the emerging market for software-based identity
management solutions, providing biometric, secure credential, law
enforcement and enterprise authorization.  Its "flagship" product
is the IWS Biometric Engine.  Scalable for small city business or
worldwide deployment, the Company's biometric engine is a multi-
biometric platform that is hardware and algorithm independent,
enabling the enrollment and management of unlimited population
sizes.  The Company's identification products are used to manage
and issue secure credentials, including national IDs, passports,
driver licenses, smart cards and access control credentials.  Its
law enforcement products provide law enforcement with integrated
mug shot, fingerprint LiveScan and investigative capabilities.
The Company also provides comprehensive authentication security
software.

Imageware Systems reported a net loss available to common
shareholders of $9.59 million on $4.76 million of revenues for the
year ended Dec. 31, 2015, compared to a net loss available to
common shareholders of $7.99 million on $4.15 million of revenues
for the year ended Dec. 31, 2014.


IMMUCOR INC: Extends Maturity of Credit Agreement with Citibank
---------------------------------------------------------------
Immucor, Inc., IVD Intermediate Holdings B Inc., the subsidiary
guarantors party thereto, Citibank, N.A., as administrative agent,
and the various revolving facility lenders party thereto modified
the Company's senior secured credit facilities by entering into
Amendment No. 6 to the credit agreement among the parties dated as
of Aug. 19, 2011.

The Amendment extends the maturity date under the existing
revolving credit facilities and amends certain other terms of the
revolving credit facilities.  The margin for borrowings under the
revolving credit facility remains unchanged.  With respect to base
rate borrowings, the margin is 2.75% and with respect to LIBOR
borrowings, the margin is 3.75%.  However, the Amendment imposes a
0% LIBOR floor.

The Amendment extends the maturity date of the revolving credit
facilities to the earlier of (i) Feb. 19, 2020, (ii) May 19, 2018,
if the maturity of the term loan facility under the Credit
Agreement have not been extended by such date, and (iii) 90 days
prior to any maturity date of certain funded material indebtedness
(which maturity date shall be no earlier than Oct. 19, 2018).
Certain other Company actions would also result in a springing
maturity of the revolving credit facilities as early as Aug. 20,
2017.

As amended, the aggregate principal amount of the revolving credit
commitments is reduced as follows: (1) effective on May 4, 2016,
from $100.0 million to $80.0 million, (2) on Aug. 19, 2018, to
$70.0 million, (3) on February 19, 2019, to $60.0 million and (4)
on August 19, 2019, to $50.0 million.

The revolving credit facilities also provide that if the existing
term loan facility under the Credit Agreement is amended, then
certain "most favored nations" provisions with respect to interest
rate margin and negative and financial covenants will apply to the
revolving credit facilities.

A copy of the Sixth Amended Credit Agreement is available at:

                      https://is.gd/R0U7ly

                          About Immucor

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

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

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


INC RESEARCH: Moody's Hikes Corporate Family Rating to Ba2
----------------------------------------------------------
Moody's Investors Service upgraded the ratings of INC Research
Holdings, Inc., including the Corporate Family Rating to Ba2 from
Ba3, the Probability of Default Rating to Ba3-PD from B1-PD, and
senior secured credit facility to Ba2 (LGD 2) from Ba3 (LGD 3).
Moody's also affirmed the Speculative Grade Liquidity Rating of
SGL-1, signifying very good liquidity. The outlook is stable.

"The upgrade reflects INC's growing scale, strong operating
performance, and successful deleveraging," stated Jessica
Gladstone, Moody's Senior Vice President.

Ratings upgraded:

INC Research Holdings, Inc.

Corporate Family Rating to Ba2 from Ba3

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

Senior secured revolving credit facility to Ba2 (LGD 2) from Ba3
(LGD 3)

Senior secured term loan to Ba2 (LGD 2) from Ba3 (LGD 3)

Ratings affirmed:

Speculative Grade Liquidity Rating, SGL-1

The outlook is stable

RATINGS RATIONALE

The Ba2 Corporate Family Rating is supported by INC's good business
execution over the last several years and strong industry-wide
growth trends which support a favorable business outlook for the
company. The ratings reflect solid credit metrics, including
adjusted debt/EBITDA of 2.2 times and free cash flow to debt of
more than 25% for the twelve month period ended March 31, 2016. The
Ba2 rating is constrained by INC's modest size, both on an absolute
basis -- with around $1 billion in net service revenues as well as
relative to several much larger competitors within the highly
competitive contract research organization industry. The rating is
also constrained by risks inherent in the pharmaceutical services
industry, including project cancellation risk, which can lead to
volatility in revenue and cash flow.

The SGL-1 rating reflects Moody's expectations for very good
liquidity over the next 12-18 months, supported by strong free cash
flow, an undrawn $150 million revolver and ample cushion under
financial covenants.

The stable rating outlook balances Moody's view that sound industry
fundamentals will support continued earnings growth at INC, with
the expectation that the company will remain relatively modest in
size.

INC's ratings could be upgraded if the company materially increases
scale while maintaining good customer diversity, and sustains debt
to EBITDA below 2.0 times.

Moody's could downgrade INC's ratings if the company experiences
very weak net new business or elevated project cancellations, such
that Moody's expects earnings to decline. Further, large
acquisitions or debt-funded share repurchases such that Moody's
expects debt to EBITDA to be sustained above 3.0 times could lead
to a downgrade.

INC Research is a leading global contract research organization
providing outsourced research and development services for
pharmaceutical and biotechnology companies. INC's main area of
focus is late-stage clinical trials. The company is publicly
traded, but 24% owned by private equity firms Avista Capital
Partners and Ontario Teachers' Pension Plan. Net service revenues
for the twelve months ended March 31, 2016 approximated $952
million.


INSURANCE PROFESSIONALS: Case Summary & 8 Unsecured Creditors
-------------------------------------------------------------
Debtor: The Insurance Professionals, Inc.
        9343 East Bahia Drive
        Scottsdale, AZ 85260

Case No.: 16-05391

Chapter 11 Petition Date: May 12, 2016

Court: United States Bankruptcy Court
       District of Arizona (Phoenix)

Debtor's Counsel: Jonathan P. Ibsen, Esq.
                  CANTERBURY LAW GROUP, LLP
                  14300 N Northsight Blvd., Suite 129
                  Scottsdale, AZ 85260
                  Tel: 480-240-0040
                  Fax: 480-656-5966
                  E-mail: jibsen@edwardsandcherney.com
                          jibsen@clgaz.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Shane Powell, vice president &
secretary.

A list of the Debtor's eight largest unsecured creditors is
available for free at http://bankrupt.com/misc/azb16-05391.pdf


IOWA FERTILIZER: S&P Lowers Rating on $1.194BB Financing to 'B+'
----------------------------------------------------------------
S&P Global Ratings lowered its rating on Iowa Finance Authority's
$1.194 billion tax-exempt financing to 'B+' from 'BB-' and placed
the rating on CreditWatch with negative implications.  The bonds
are issued for Iowa Fertilizer Co. (IFCo).  The secured bonds
consist of three tranches maturing between 2019 and 2025.  Project
revenues of the obligor, IFCo, service the bonds.

"The downgrade follows IFCo's announcement that first production of
ammonia is delayed a further five months from the anticipated May
2016 start," said S&P Global Ratings credit analyst Aneesh Prabhu.
It also is based on S&P's review of the project's financing plan
and reassessment of the project's funding needs and sources.  The
rating action affects nearly $1.2 billion of debt.

Project construction progress and funding adequacy continue to
remain S&P's primary focus at this time because of cost escalation
to date and the construction timetable tracking behind schedule
compared with budgets.  Even before this downgrade, the
construction phase had been the ratings constraint.

Sponsor OCI N.V has provided IFCO up to $150 million financing in
the form of a deeply subordinated shareholder loan.  The loan is
backed by an irrevocable standby letter of credit (SBLC) from J.P.
Morgan International Bank Ltd. in favor of OCI issued solely for
the purposes of supporting IFCo's funding requirements.

Based on the current schedule, S&P views that this incremental $150
million as sufficient to meet the project's incremental
requirements to bring the plant online for the anticipated
September/October 2016 start.  However, S&P's assessment assumes
that about $60 million of funds from the DSRA will also be drawn
for purposes of upcoming debt service; this weakens the project's
liquidity during construction.  A bondholder consent solicitation
is being sought per the financing agreement, which will also
include bondholders waiving the right to block DSRA draw on
June 1, 2016.

"While we see a waiver as likely given OCI's willingness to provide
additional funding to the project criteria, we have revised our
assessment of construction funding sources to negative given the
additional financing and expected DSRA usage. Specifically, we
assess additional funding availability as certain (risk of parent
support available when required is low) instead of highly certain
(support is available on demand when required). Given that IFCo is
a valuable asset in the merger transaction announced between OCI
and CF Industries last year, we believe both the companies remain
strongly committed to the project, though, under our project
finance criteria, we do not ascribe any specific benefit as a
result of this commitment," S&P said.

As of March 2016, the project was overall about 95% complete.
Construction, which remains the critical path and includes
pre-commissioning activities, is about 95.26% complete.  The delay
largely results from lost labor hours due to severe weather, low
productivity by two subcontractors, and change orders that are
typical of large, complex projects such as this.  The project is
now about 11-months delayed compared to its original schedule and
S&P estimates that its costs are now about $400 million higher than
its original estimate of $1.8 billion.

The current CreditWatch listing pertains specifically to
construction delays and financing needs.  The ratings will remain
on CreditWatch pending a potential consent solicitation and receipt
of bondholder waivers.  S&P will likely resolve the CreditWatch
over the next six to eight weeks when S&P has greater visibility
into the likely timeline for COD.  If S&P's ongoing review
concludes that construction sources are insufficient, S&P will
likely lower ratings.  Depending on the extent of shortfall, S&P
could lower ratings to as low as 'B-'.

Nonetheless, S&P believes IFCo is the pivotal asset in the
combination agreement with CF Industries Holdings Inc., under which
OCI will combine its European, North American, and global
distribution businesses with CF Holdings under a newly formed
holding company domiciled in the Netherlands.  S&P notes that the
cost of building a similarly sized facility in the U.S. is nearly
$1 billion higher than IFCo's revised costs.  S&P's operations
phase SACP is 'bb'.  Should the project successfully complete its
construction phase and go into production at expected availability
levels, S&P will likely raise the ratings.


IRONGATE ENERGY: S&P Lowers CCR to 'CCC-', Outlook Negative
-----------------------------------------------------------
S&P Global Ratings lowered its corporate credit rating on Irongate
Energy Services LLC to 'CCC-' from 'CCC+'.  The outlook is
negative.  At the same time, S&P lowered the issue-level rating on
the company's outstanding senior secured notes to 'CCC-' from
'CCC+'.  The recovery rating on the notes remains '4', reflecting
S&P's expectation of average (30% to 50%; lower half of the range)
recovery to creditors in the event of a payment default.

The downgrade reflects S&P's expectation that the company will
continue to face very challenging market conditions in 2016 leading
to weak liquidity as a result of the effects of persistently low
oil and natural gas prices and the declining U.S rig count.  With
availability under the company's asset-backed lending facility
severely limited by declining receivables and potential covenant
breaches, the company may need to use available cash to fund
operating deficits, leaving few options available to make interest
payments on the company's outstanding senior secured notes in July
2016 and beyond.

Irongate's vulnerable business risk profile primarily reflects the
very small size and scale of its operations, susceptibility to
price competition, and exposure to the cyclical and often volatile
spending levels of oil and gas exploration and production
companies.  The company comprises two major business units: rental
equipment (76% of revenue in 2015) and tubular services.  The
rental unit provides equipment and services such as drill string
components and surface pressure control equipment to oil and gas
companies.  While the company offers both onshore and offshore
services in Mexico, approximately 88% of revenues are generated in
the U.S.

The highly leveraged financial risk reflects that core ratios have
materially weakened over the past 12 months.  The assessment also
reflects Irongate's 92% ownership by financial sponsor Clearlake
Capital.  

"The negative outlook reflects our view that the prolonged slump in
oil and natural gas prices in 2016 will continue to affect
operating results such that the likelihood of default or debt
restructuring is greatly increased over the next six months," said
S&P Global Ratings credit analyst Aaron McLean.


JAZZ ACQUISITION: S&P Affirms 'B' CCR, Outlook Stable
-----------------------------------------------------
S&P Global Ratings said that it affirmed all of its ratings on Jazz
Acquisition Inc., including S&P's 'B' corporate credit rating, on
May 9, 2016.  The outlook is stable.

"The affirmation reflects our belief that Jazz's credit metrics,
although currently very weak, will improve gradually over the next
12-24 months as the company works through its current operational
challenges and contributions from its new contracts and recent
acquisitions increase its revenue and earnings," said S&P Global
credit analyst Tennille Lopez.  S&P believes that the company's
debt-to-EBITDA metric will decline to less than 8x in 2016 from
more than 9x in 2015.  However, S&P revised its assessment of the
company's business risk profile to reflect that its operating
profitability has been weaker than anticipated since S&P first
rated the company in 2014 and to reflect S&P's belief that it may
take some time for its profitability to materially improve.

The stable outlook on Jazz reflects S&P's expectation that the
company's revenue and earnings will improve modestly as it benefits
from its recent acquisitions and focuses on fixing its operational
challenges.  The company should also benefit from the ongoing
strength of the commercial aerospace market and the airlines' focus
on finding low-cost solutions.  Jazz benefits from its customers'
focus on low-cost solutions given that its PMA parts business
provides parts at lower prices than the original equipment
manufacturers (OEMs).  These trends should improve the company's
credit ratios over the next 12-18 months.

S&P could lower its ratings on Jazz over the next year if the
company is unable to improve its operations, because of the current
challenges it faces, and it experiences weaker-than-expected
commercial aftermarket demand.  Although less likely, S&P could
downgrade Jazz if debt-financed acquisitions or dividends cause its
debt-to-EBITDA metric to remain above 9x and its FFO-to-debt ratio
to remain below 4% and we do not expect either metric to improve.

S&P views an upgrade as unlikely in the near term.  The company's
private-equity ownership and the potential for debt-financed
acquisitions, dividends, or other transactions that could
significantly increase its leverage reduce the possibility that S&P
would upgrade the company under its current ownership structure.


JUMIO INC: Files Schedules of Assets and Liabilities
----------------------------------------------------
Jumio Inc. filed with the U.S. Bankruptcy Court for the District of
Delaware its schedules of assets liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property                        $0
  B. Personal Property           $62,047,532
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                               $15,765,819
  E. Creditors Holding
     Unsecured Priority
     Claims                                                $0
  F. Creditors Holding
     Unsecured Non-Priority
     Claims                                          $542,624
                                 -----------      -----------
        Total                    $62,047,532      $16,308,443

A copy of the schedules is available for free at:

                        https://is.gd/E3Zemx

                            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, the CFO.  The Debtor estimated assets in the range
of $1 million to $10 million and debts of up to $50 million.  The
Hon. Brendan Linehan Shannon is the case judge.

The Debtor 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.


KDA GROUP: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: KDA Group, Inc.
        Four Gateway Center
        444 Liberty Avenue, Suite 1100
        Pittsburgh, PA 15222

Case No.: 16-21821

Chapter 11 Petition Date: May 12, 2016

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

Judge: Hon. Gregory L. Taddonio

Debtor's Counsel: Donald R. Calaiaro, Esq.
                  CALAIARO VALENCIK
                  428 Forbes Ave., Suite 900
                  Pittsburgh, PA 15219
                  Tel: 412-232-0930
                  Fax: 412-232-3858
                  E-mail: dcalaiaro@c-vlaw.com

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

Estimated Liabilities: $10 million to $50 million

The petition was signed by Nicholas D. E. Barran, authorized
representative.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/pawb16-21821.pdf


KEELEY AND GRABANSKI: Haslam Attorney Awarded $12K in Fees, Costs
-----------------------------------------------------------------
Judge Thad J. Collins of the United States Bankruptcy Court for the
District of North Dakota awarded $12,150 in fees and $144 in costs
to Donald Haslam, attorney for the Chapter 7 Trustee in the case
captioned IN RE KEELEY AND GRABANSKI LAND PARTNERSHIP, Chapter 7,
Debtor, Bankruptcy No. 10-31482 (Bankr. D.N.D.).

The Trustee previously hired Haslam to bring a cause of action to
trial in Texas state court.  Haslam brought the action to trial and
procured a judgment.  He then filed an interim application for
compensation in the bankruptcy court, seeking $17,275.00 in fees
and $144.00 in costs and asking that they be paid as a cost of
administration in the bankruptcy case.

The Trustee objected to and sought a reduction of Haslam's fees,
arguing that the fees should be reduced because they: are out of
proportion with the $25,000 recoverable for the estate; are for
work that was unnecessary or unauthorized; include billing for
clerical work; include billing for services rendered before the
court approved Haslam's employment; include billing for time that
was not included in an interim accounting; and contain excessive
minimum charges. The Trustee asserted that a fee award of $7,500 is
proper.

Judge Collins found that Haslam's bill is for necessary,
authorized, and reasonable work.  The judge, however, reduced the
bill for work performed before the court approved Haslam's
employment, for time that was not included in the interim
accounting, and for clerical work.

A full-text copy of Judge Collins' March 31, 2016 order and
memorandum is available at http://is.gd/L0ugOtfrom Leagle.com.

Keeley and Grabanski Land Partnership is represented by:

          DeWayne Johnston, Esq.
          JOHNSTON LAW OFFICE
          221 S. Fourth St.
          Grand Forks, ND 58201
          Tel: (701)775-0082
          Fax: (701)775-2230
          Email: dewayne@wedefendyou.net

John Keeley is represented by:

          Jack P. Dwyer, Esq.
          DWYER LAW OFFICE PLLC
          1605 E. Capitol Ave.
          Bismarck, ND 58501
          Tel: (701)223-4232
          Fax: (701)223-4645

            -- and --

          Sean T. Foss, Esq.
          KENNELLY & O'KEEFFE, LTD.
          720 Main Ave.
          Fargo, ND 58103
          Tel: (701)235-8000
          Fax: (701)235-8002
          Email: sean@okeeffeattorneys.com

Kip M. Kaler, Trustee, is represented by:

          Matthew Golden, Esq.
          COCHRAN & GOLDEN
          723 Main St.
          Texarkana, TX 75501
          Tel: (903)791-0439

            -- and --

          George Donald Haslam Jr.
          THE HASLAM LAW FIRM, PLLC
          3131 McKinney Ave., Suite 600
          Dallas, TX 75201
          Tel: (469)333-7055
          Fax: (888)541-9780
          Email: dhaslam@alumni.uchicago.edu

            -- and --

          Daylen D. Ramstad, Esq.
          JOHNSTON, RAMSTAD & MOTTINGER, PLLP
          15 South 9th Street
          Fargo, ND 58103
          Tel: (701)645-3030
          Fax: (701)235-8906

            -- and --

          Jason R Searcy, Esq.
          SEARCY & SEARCY, P.C.
          446 Forest Square
          Longview, TX 75605
          Tel: (903)757-3399
          Fax: (903)757-9559
          Email: jsearcy@jrsearcylaw.com

Robert B. Raschke, U.S. Trustee, is represented by:

          Sarah J. Wencil, Esq.
          OFFICE OF THE U.S. TRUSTEE
          300 South Fourth Street, Suite 1015
          Minneapolis, MN 55402
          Tel: (612)334-1350
          Fax: (612)3335-4032

          About Keeley and Grabanski Land Partnership

Thomas Grabanski, a North Dakota farmer, and his wife Mari filed a
personal Chapter 11 bankruptcy petition (Bankr. D. N.D. Case No.
10-30902) on July 22, 2010.  DeWayne Johnston, Esq., at Johnston
Law Office, represents the Grabanskis in their Chapter 11 case.
The Grabanskis estimated assets between $1 million and $10 million,
and debts between $10 million and $50 million.

On July 23, 2010, Mr. Grabanski signed a Chapter 11 petition for
Grabanski Grain LLC (Bankr. D. N.D. Case No. 10-30924).  DeWayne
Johnston, Esq., also represents Grabanski Grain.  The Debtor is
estimated to have assets and debts of $1 million to $10 million.

Former owners, John and Dawn Keely, in December 2010 forced the
partnership Keeley and Grabanski Land Partnership in Texas into
Chapter 11.  The former owners filed an involuntary Chapter 11
bankruptcy petition against the partnership (Bankr. D. N.D. Case
No. 10-31482) on Dec. 6, 2010.  Kenneth Corey-Edstrom, Esq., at
Larkin Hoffman Daly & Lindgren Ltd., represents the petitioner.

The Bankruptcy Court granted the order for relief on January 7,
2011, and Kip Kaler was appointed as the Chapter 11 Trustee on
April 5, 2011.  The U.S. Bankruptcy Appellate Panel for the Eighth
Circuit later affirmed the Bankruptcy Court's order appointing a
trustee in Keeley and Grabanski Land Partnership's involuntary
Chapter 11 case.  Kip M. Kaler, Chapter 11 trustee of Keeley and
Grabanski Land Partnership, won authority to employ Kaler Doeling
Law Office as counsel.

The case was converted to Chapter 7 on October 11, 2011.  Kip Kaler
continued to act as trustee in the Chapter 7 case.

Keeley and Grabanski Land Partnership in Texas -- since 2009 doing
business as Grabanski Land Partnership -- was formed in 2007 for
Texas farming operations between farmers Thomas Grabanski and John
Keeley of Grafton, N.D., and their wives.  K&G Land, along with a
separate farming partnership, operated more than 10,000 acres of
corn and sunflowers from 2007 to 2009 in two locations in Texas
near the towns of Blossom and DeKalb.

In separate, related lawsuits, the Grabanskis face several
"adversarial" lawsuits, filed by certain creditors.  The creditors
who filed suits include Crops Production Services Corp., AgCountry
Farm Credit Services, and PHI Financial.


KIRWAN OFFICES: Creditors Reject Lynch's Motion to Intervene
------------------------------------------------------------
Petitioning Creditors Lapidem Ltd. and Mascini Holdings Limited
submitted to the U.S. Bankruptcy Court for the Southern District of
New York, their Objection and Memorandum to the Motion and
Memorandum filed by Stephen Lynch, which sought to intervene in the
proceedings on Kirwan Offices S.A.R.L.'s behalf, and also sought
dismissal, abstention or a stay of the proceedings.

"Kirwan's only asset is a Russian subsidiary, OOO Promneftstroy
("PNS"). Kirwan owns 100% of PNS's equity. In 2007, the Petitioners
and certain other parties came together to make an investment
through Kirwan and PNS: the acquisition of 100% of the shares of
Yukos Finance in an auction by the bankruptcy estate of its parent
company, OAO Yukos Oil Company ("Yukos Oil").  On August 15, 2007,
PNS won the auction with a bid of $309 million. The Petitioners...
funded the entire purchase price through loans to Kirwan.  Kirwan
in turn loaned the proceeds to PNS.  Those loan remain unpaid.
Following the auction, PNS quickly and unexpectedly became
embroiled in litigation with entities connected to the former
shareholders and management of Yukos Oil... Over the ensuing years,
related highly complex litigation has been filed... The litigation
has lasted over eight years... To this day, PNS still has not
succeeded in acquiring clear title to the shares of Yukos Finance,"
the Creditors contend.

The Creditors tell the Court that PNS's litigation adversaries have
recently made an offer to finally and fully settle the litigation
for an amount equal to approximately $137.5 million.  The Creditors
believe that it is in Kirwan's best interest to accept this offer.
While the offer is far less than the debts that Kirwan owes, the
Creditors believe that the resolution of the litigation for the
settlement amount is in Kirwan's and its stakeholders' best
interests.

The Creditors contend that Stephen Lynch has actively interfered
with settlement efforts in order to obtain a payday for himself.
They further contend that Mr. Lynch has argued that he, as the
general director of PNS, has sole authority to control the
litigation.  The Creditors tell the Court that Mr. Lynch took the
same position in the pre-petition arbitration and lost on that very
issue.  They further tell the Court that the arbitrator determined
that control over the litigation is vested exclusively in Kirwan,
not Mr. Lynch, and that Richard Deitz of VR Capital, is authorized
to explore possible settlement with the parties' adversaries in the
litigation.

"It is time to bring the litigation to an end.  It is necessary to
do so in a forum with the power to bind all parties.  Further
arbitration would be useless: it would be limited only to
addressing intractable governance and collateral disputes.  And, in
any event, Mr. Lynch seems to ignore the arbitrator's rulings that
do not suit him.  Accordingly, while a $137.5 million settlement is
over $200 million less than the Petitioners' total claims against
Kirwan, the Petitioners are prepared to propose a plan that
implements the settlement and pursuant to which the Petitioners
will ensure that all creditors and administrative claimants, other
than the Petitioners, will be paid in full," the Creditors aver.

Lapidem Ltd. and Mascini Holdings Limited are represented by:

          Jay M. Goffman, Esq.
          Mark A. McDermott, Esq.
          Suzanne Lovett, Esq.
          SKADDEN, ARPS, SLATE, MEAGHER & FLOM LLP
          Four Times Square
          New York, NY 10036
          Telephone: (212)735-3000
          E-mail: jay.goffman@skadden.com
                  mark.mcdermott@skadden.com
                  suzanne.lovett@skadden.com


KRONOS WORLDWIDE: Fitch Lowers IDR to 'B+', Outlook Stable
----------------------------------------------------------
Fitch Ratings has downgraded the Issuer Default Ratings of Kronos
Worldwide, Inc. (NYSE: KRO) and its wholly owned subsidiary, Kronos
International, Inc. to 'B+' from 'BB-'.  The Rating Outlook is
Stable.

The downgrade reflects a longer than expected downturn in the TiO2
market that has resulted in the company generating consistently
negative free cash flow (FCF), which Fitch expects will likely
continue over the medium term.  Additionally, Kronos' liquidity
position is likely to remain weaker than previously expected owing
to weak TiO2 fundamentals that have limited the company's available
borrowings under its two revolving credit facilities, particularly
its European revolver, which has restrictive financial covenants.

While Fitch believes the recently announced price increases by
major producers signals a bottom in the market, there is still
uncertainty regarding the future dynamics of the TiO2 industry
given the potential for pricing pressure from customers and
producer's tendency to feed into the boom and bust cycles of the
past.  The possibility of continued volatility in the TiO2 market
will likely cap Kronos' IDR at its current level for the
foreseeable future.

KEY RATING DRIVERS

Volatile Industry Conditions: As a pure-play TiO2 producer, Kronos
is highly sensitive to the volatility of the TiO2 market.  This
volatility has led to large swings in the company's
Fitch-calculated EBITDA over the past four years, which, combined
with annual dividend payments around $70 million, has resulted in
consistently negative FCF that has weakened the company's liquidity
and pressured its credit metrics.

Fitch does expect Kronos' credit profile to strengthen in 2016 on
the back of announced price increases that seem to have generally
taken root and growing demand from increased construction activity.
Supply rationalization should also help balance the TiO2 market
with top producers such as Chemours, Huntsman and Tronox all
announcing capacity closures/idlings in the past 12-18 months.

However, in Fitch's view uncertainty remains for future producer
economics and the overall dynamics of the TiO2 industry.  Pricing
could be relatively more disciplined going forward now that top
producers such as Chemours operate as standalone entities. However,
the industry will likely still be highly sensitive to stocking and
de-stocking trends as customers substitute lower quality pigments
when prices rise beyond their ability to pass through.  TiO2
producers have tended to produce at capacity while prices are
rising and then curtail production and drop prices to move
inventory when pricing overshoots.

Additionally, the planned capacity expansion of Chemour's Altamira
facility, which will bring 200k tonnes of annual capacity online by
mid-2016, as well as uncertainty regarding future capacity in
China, could lead to continued supply pressure in the TiO2 market.
Fitch does note, however, that Chemours intends to offset the
increase in production from the Altamira expansion with idlings at
certain other of its facilities.

Exposure to Raw Material Prices: Kronos is exposed to third-party
suppliers for at least 75% of its feedstock requirements.  While
Fitch believes these markets are well supplied and cost pressure
has abated, production is fairly concentrated and margins would
become pressured should markets tighten.  The company supplies all
of its European sulfate needs internally through its ilmenite mines
in Norway.  However, it purchases chloride process grade slag and
natural rutile ore as well as ilmenite for its Canadian sulfate
plant under long-term supply contracts.

Concentrated Market: The global TiO2 market is relatively
concentrated among a handful of top producers.  Fitch estimates the
Top 6 accounted for around 55-60% of global capacity in 2015. While
Kronos believes it has leading market positions in both Europe and
North America, the company has limited ability to impact market
dynamics, generally leaving market-moving actions to bigger names
such as Chemours and Huntsman.  Despite management's belief that it
is the largest TiO2 producer in Europe, the company's EBITDA
generation has been limited the past two years, which has
restricted borrowings under its European facility due to the
facility's financial covenants.

Modest Debt Load: Fitch views Kronos' current debt load as modest
when compared against normalized EBITDA generation and projects
leverage will likely fall below 3.0x in 2016 and likely continue to
decline through 2019.  Additionally, the company's upcoming
maturity payments are light, limited to the amortization of its
term loan.

The term loan is collateralized by, among other things, a first
priority lien on 100% of the common stock of certain of Kronos
Worldwide's U.S. wholly-owned subsidiaries, 65% of the common stock
of its Canadian subsidiary and certain first-tier European
subsidiaries, and a $395.7 million unsecured promissory note issued
by Kronos Worldwide's wholly-owned subsidiary, Kronos
International, Inc. to Kronos Worldwide.  The facility is also
collateralized by a second priority lien on all of the U.S. assets
which collateralize the company's North American revolving credit
facility.  The term loan has no ongoing financial maintenance
covenants.

                          RECOVERY ANALYSIS

For issuers with IDRs at 'B+' and below Fitch performs a recovery
analysis for each class of obligations of the issuer.  Fitch used a
going concern EBITDA of $100 million for its recovery analysis and
a 5x multiple, which results in a calculated enterprise value in a
distressed scenario of around $500 million.  Fitch's going concern
EBITDA reflects the volatile and highly competitive nature of the
TiO2 industry, which, in a stress scenario, would likely lead to
pricing pressure that would shrink Kronos' earnings.

Using these calculations, Fitch has affirmed Kronos Worldwide
Inc.'s ABL facility and Kronos International Inc.'s revolving
facility at 'BB+/RR1'.  Fitch calculates that both facilities would
have outstanding recovery prospects (91%-100%) in a distressed
scenario given their first priority lien on working capital.

Fitch has affirmed Kronos Worldwide Inc.'s term loan at 'BB-' but
has revised the recovery rating to 'RR3' from 'RR4'.  Fitch
believes the instrument will have good recovery prospects (51%-70%)
in a distressed scenario.  The revised Recovery Rating reflects
Fitch's assumption that drawings under Kronos' first-lien European
facility would likely be limited in a distressed scenario due to
covenant restrictions, increasing the projected recovery proceeds
the term loan would receive.

                            KEY ASSUMPTIONS

   -- Realization of announced price increase spread over Q2 and
      Q3 of 2016 leading to slightly negative TiO2 price
      realizations year over year for 2016/2015;

   -- Continued positive momentum in TiO2 prices through 2019
      leading to EBITDA margins trending up from the mid to high
      single digits in 2016 to the mid-teens by 2019;

   -- Utilization rates at management guidance leading to an
      increase in year over year sales volumes in 2016 and
      relatively flat thereafter;

   -- CapEx and dividend payments consistent with historical
      results.

                       RATING SENSITIVITIES

Positive - No upgrades are currently contemplated given the
historical volatility of the TiO2 market and Kronos' lack of
diversification as a pure-play producer of the pigment.

Negative - Future developments that may, individually or
collectively, lead to negative rating actions include:

   -- Continued volatility in the TiO2 market leading to
      expectations of sustained negative FCF generation and
      volatile EBITDA margins;

   -- Material debt-funded dividend payments or acquisition
      activity.

                             LIQUIDITY

Continued pricing pressure in the TiO2 market reduced Kronos'
liquidity in the past year, with cash dropping from nearly $170
million in 2014 to just under $60 million in as of March 31, 2016.
The weak pricing environment has also reduced the borrowing base
for the company's $125 million North American ABL revolver and
limited drawings under the EUR120 million European facility due to
covenant restrictions.  At March 31, 2016, Kronos reported that it
had around $79.1 million available under the North American
facility and would only be able to draw up to approximately EUR6.7
million ($7.5 million) under the European revolver before tripping
the facility's financial covenants.

While Fitch expects the available amount under the North American
facility to increase as TiO2 prices recover, Fitch believes
available drawings under the European revolver will remain
restricted and estimates the company has not drawn on the facility
in either of the last two years.

The North American revolver at Kronos Worldwide is secured by
receivables and inventory in North America.  The facility has a
1.1:1.0 minimum fixed charge covenant at such times as availability
is less than 10% but no other maintenance financial covenants.  The
European revolver is secured by the accounts receivable and
inventory of the borrowers (European operating subsidiaries of
Kronos International).  The facility expires in September 2017 and
has a net secured debt to EBITDA maximum covenant of 0.7x and net
debt to equity minimum covenant of 0.50 to 1 which is calculated at
the operating subsidiary level.

Outside of its two revolving credit facilities, which both mature
in 2017, Kronos' only other notable maturity is its term loan due
2020.

FULL LIST OF RATING ACTIONS

Fitch has taken these rating actions:

Kronos Worldwide, Inc.
   -- IDR downgraded to 'B+' from 'BB-';
   -- ABL Revolver affirmed at 'BB+/RR1';
   -- Senior secured term loan affirmed at 'BB-', Recovery Rating
      revised to 'RR3' from 'RR4'.

Kronos International, Inc.
   -- IDR downgraded to 'B+' from 'BB-';
   -- Senior secured revolving credit facility affirmed at
      'BB+/RR1'.

The Rating Outlook is Stable.


LA CUADRA L.L.C.: Case Summary & Unsecured Creditor
---------------------------------------------------
Debtor: La Cuadra, L.L.C.
        11621 Drexel Street
        Omaha, NE 68137

Case No.: 16-80761

Chapter 11 Petition Date: May 13, 2016

Court: United States Bankruptcy Court
       District of Nebraska (Omaha Office)

Judge: Hon. Thomas L. Saladino

Debtor's Counsel: Bruce C. Barnhart, Esq.
                  BARNHART LAW OFFICE
                  12100 W Center Rd, Suite 519
                  Omaha, NE 68144
                  Tel: (402) 934-4430
                  Fax: (402) 384-1109
                  Email: bruce@barnhart-law.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Claudia Josefina Newton, manager.

The Debtor listed Great Western Bank as its largest unsecured
creditor holding a claim of $18,069.

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

             http://bankrupt.com/misc/neb16-80761.pdf


LAKE MATHEWS: Case Summary & 17 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Lake Mathews Mineral Properties, LTD
        1 World Trade Center, Suite 800
        Long Beach, CA 90831

Case No.: 16-16363

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: May 13, 2016

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

Judge: Hon. Neil W. Bason

Debtor's Counsel: Michael Jay Berger, Esq.
                  LAW OFFICES OF MICHAEL JAY BERGER
                  9454 Wilshire Blvd 6th Fl
                  Beverly Hills, CA 90212-2929
                  Tel: 310-271-6223
                  Fax: 310-271-9805
                  E-mail: michael.berger@bankruptcypower.com

Total Assets: $2.50 million

Total Liabilities: $2.24 million

The petition was signed by Steven Winstead, senior vice president
and general manager.

A list of the Debtor's 17 largest unsecured creditors is available
for free at http://bankrupt.com/misc/cacb16-16363.pdf


LAWRENCE SCHIFF: Ch 11 Trustee Hires EisnerAmper as Fin'l Advisor
-----------------------------------------------------------------
William G. Schwab, Chapter 11 Trustee for the estate of Lawrence
Schiff Silk Mills, Inc., seeks permission from the U.S. Bankruptcy
Court for the Eastern District of Pennsylvania to to retain
EisnerAmper LLP as financial advisor, nunc pro tunc to May 2,
2016.

EisnerAmper will, among other things, provide these services:

      a. assessment of the Debtor's cash flow requirements,
         including the preparation and maintenance of short-term
         cash flow projections and reporting, as required;

      b. development, preparation, and presentation of operating
         plans and financial projections, as agreed upon;

      c. preparation of reports and compliance reporting, as
         required;

      d. assistance with analysis and reconciliation of financial
         information as requested by the Chapter 11 Trustee and
         counsel;

      e. development of a plan of restructuring, including a sale
         process pursuant to Section 363 of the Bankruptcy Code
         and its associated due diligence processes;

      f. participation in court hearings and, if necessary,
         provide expert testimony in connection with any hearing
         before the Court regarding the case; and

      g. perform other tasks as appropriate and may be requested
         by the Chapter 11 Trustee and counsel for the Chapter 11
         Trustee.

EisnerAmper will bill at its normal hourly rates and the principal
individuals at the firm designated to represent the Chapter 11
Trustee, and their current hourly rates, are:

         Edward A. Phillips, Partner            $540
         Ryan W. Farley, Manager                $310
         Partners/Principals                  $440-$620
         Directors                            $365-$520
         Managers/Senior Managers             $240-$445
         Paraprofessionals/Staff              $125-$295

Edward A. Phillips, a partner at EisnerAmper, assures the Court
that the firm doens't have any connections as contemplated by
Bankruptcy Rule 2014(a).  Neither EisnerAmper nor any employee at
the firm holds or represents an interest adverse to the Chapter 11
Trustee or the Debtor's estate.  Neither EisnerAmper nor any
employee of the firm is a creditor, an equity security holder, or
an insider of the Debtor.

                 About Lawrence Schiff Silk Mills

Founded in 1918 and headquartered in Quakertown, PA, Lawrence
Schiff Silk Mills, Inc.'s primary business was the manufacturing of
ribbons, bows, ties, straps, webbing and over 500 additional woven,
fabricated materials for more than 1,000 customers worldwide.  LSSM
served the global industrial, apparel, military, medical, packaging
and hospitality markets.

On April 5, 2016, Pyramid Realty Group, LP, Aero Energy and Grant
Industries, Inc. filed an involuntary petition under Chapter 11 of
the U.S. Bankruptcy Code pursuant to Sec. 303 of the Bankruptcy
Code against Lawrence Schiff Silk Mills (Bankr. E.D. Pa. Case No.
16-12396).  Pyramid is owned by Richard J. Schiff, who holds a
minority equity stake in Debtor, owns RJLS Enterprises, Inc., and
owns or owned the Debtor's predecessor entities.

On April 22, 2016, upon agreement between the Debtor and the
Petitioning Creditors, the Court entered a Consent Order for Relief
in Involuntary Chapter 11 Case.  The Consent Order granted relief
to Debtor under Chapter 11 of the Bankruptcy Code as of the Relief
Date.

The Petitioning Creditors are represented by Jeffrey Kurtzman,
Esq., at Kurtzman Steady LLC.

William G. Schwab has been appointed the Chapter 11 Trustee for the
estate of Lawrence Schiff Silk Mills.


LAWRENCE SCHIFF: Ch 11 Trustee Retains Klehr Harrison as Counsel
----------------------------------------------------------------
William G. Schwab, Chapter 11 Trustee for the estate of Lawrence
Schiff Silk Mills, Inc., asks for authorization from the U.S.
Bankruptcy Court for the Eastern District of Pennsylvania to retain
Klehr Harrison Harvey Branzburg LLP as bankruptcy counsel, nunc pro
tunc to May 2, 2016.

Klehr Harrison will:

      a. advise the Chapter 11 Trustee with respect to his rights,

         powers, and duties in this case;

      b. take all necessary action to protect and preserve the
         Debtor's estate, including, without limitation, the
         prosecution of actions no its behalf, defense of any
         actions commenced against the Debtor, the negotiations
         concerning all litigation and disputes in which the
         Debtor is involved, and review, analysis and objections
         to claims filed against the Debtor's estate;

      c. prepare and file all necessary motions, applications,
         answers, orders, reports and papers in connection with
         the administration of the Debtor's estate; and

      d. perform all other necessary legal services in connection
         with the case.

Klehr Harrison will bill at its normal hourly rates (Partners:
$360-$710; Associates: $230-$425; Paralegals: $150-$240).  The
principal attorneys at Klehr Harrison designated to represent the
Chapter 11 Trustee, and their current hourly rates, are:

         Richard M. Beck, Partner               $595
         Corinne Samler Brennan, Associate      $325

Richard M. Beck, Esq., a partner at Klehr Harrison, assures the
Court that the firm doesn't have any connections, as contemplated
by Bankruptcy Rule 2014(a).  Neither Klehr nor any attorney at the
firm holds or represents an interest adverse to the Chapter 11
Trustee or the Debtor's estate.  Neither Klehr Harrison nor any
attorney at the firm is a creditor, an equity security holder, or
an insider of the Debtor.

                 About Lawrence Schiff Silk Mills

Founded in 1918 and headquartered in Quakertown, PA, Lawrence
Schiff Silk Mills, Inc.'s primary business was the manufacturing of
ribbons, bows, ties, straps, webbing and over 500 additional woven,
fabricated materials for more than 1,000 customers worldwide.  LSSM
served the global industrial, apparel, military, medical, packaging
and hospitality markets.

On April 5, 2016, Pyramid Realty Group, LP, Aero Energy and Grant
Industries, Inc. filed an involuntary petition under Chapter 11 of
the U.S. Bankruptcy Code pursuant to Sec. 303 of the Bankruptcy
Code against Lawrence Schiff Silk Mills (Bankr. E.D. Pa. Case No.
16-12396).  Pyramid is owned by Richard J. Schiff, who holds a
minority equity stake in Debtor, owns RJLS Enterprises, Inc., and
owns or owned the Debtor's predecessor entities.

On April 22, 2016, upon agreement between the Debtor and the
Petitioning Creditors, the Court entered a Consent Order for Relief
in Involuntary Chapter 11 Case.  The Consent Order granted relief
to Debtor under Chapter 11 of the Bankruptcy Code as of the Relief
Date.

The Petitioning Creditors are represented by Jeffrey Kurtzman,
Esq., at Kurtzman Steady LLC.

William G. Schwab has been appointed the Chapter 11 Trustee for the
estate of Lawrence Schiff Silk Mills.


LEGAL CREDIT: Taps Estrella LLC as Bankruptcy Counsel
-----------------------------------------------------
Legal Credit Soutions, Inc., asks for permission from the U.S.
Bankruptcy Court for the District of Puerto Rico to employ Paul
Hammer, Esq., and the law firm of Estrella, LLC, as bankruptcy
counsel.

The Debtor isn't sufficiently familiar with the law to be able to
plan and conduct the proceedings without competent legal counsel.


Mr. Hammer -- phammer@estrellallc.com -- an attorney in the law
firm of Estrella, tells the Court that the firm has agreed to
represent the Debtor on the basis of a $18,000 retainer fee,
against which the firm will bill at the rate of $200 per hour, plus
expenses, for work performed or to be performed by Mr. Hammer and
the attorneys of the law firm, and $75 per hour, for paralegal
services.

Mr. Hammer assures the Court that Estrella is a disinterested
person or entity, as defined in 11 U.S.C. Section 101(14), since
neither its attorneys, nor any other person associated with the
firm is a Debtor's creditor, equity security holder or insider, and
does not have an interest materially adverse to the interest of the
estate or of any class of creditors or equity security holders, by
reason of any direct or indirect relationship to, connection with,
or interest in, the Debtor or for any other reason.

Headquartered in Guaynabo, Puerto Rico, Legal Credit Solutions,
Inc., filed for Chapter 11 bankruptcy protection (Bankr. D. P.R.
Case No. 16-03685) on May 6, 2016, estimating its assets at up to
$50,000 and its liabilities at between $1 million and $10 million.
The petition was signed by Mrs. Yahairie Tapia, president.

Judge Brian K. Tester presides over the case.

Paul James Hammer, Esq., at Estrella, LLC, serves as the Debtor's
bankruptcy counsel.


LEN-TRAN INC: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Len-Tran, Inc.
            dba Turner Tree & Landscape
        2504 64th Street Court East
        Bradenton, FL 34208

Case No.: 16-04145

Chapter 11 Petition Date: May 13, 2016

Court: United States Bankruptcy Court
       Middle District of Florida (Tampa)

Debtor's Counsel: Elena P Ketchum, Esq.
                  STICHTER, RIEDEL, BLAIN & POSTLER, P.A.
                  110 E. Madison St., Suite 200
                  Tampa, FL 33602
                  Tel: 813-229-0144
                  Fax: 813-229-1811
                  E-mail: eketchum.ecf@srbp.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Darrell Turner, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/flmb16-04145.pdf


LEVEL 3 COMMUNICATIONS: S&P Raises CCR to 'BB', Outlook Stable
--------------------------------------------------------------
S&P Global Ratings said that it raised its corporate credit rating
on Broomfield, Colo.-based Level 3 Communications Inc. to 'BB' from
'BB-'.  The rating outlook is stable.

At the same time, S&P raised its issue-level rating on Level 3's
senior secured debt at wholly owned subsidiary Level 3 Financing
Inc. to 'BB+' from 'BB'.  The recovery rating on this debt remains
'2', which indicates S&P's expectation for substantial (70%-90%;
upper half of the range) recovery of principal in the event of a
payment default.

S&P also raised its issue-level rating on the company's unsecured
debt, including the unsecured notes at wholly owned subsidiary, to
'B+' from 'B'.  The recovery rating on this debt remains '6', which
indicates S&P's expectation for negligible (0%-10%) recovery of
principal in the event of a payment default.

"The upgrade reflects Level 3's solid operating and financial
performance, which has resulted in improved credit metrics.
Adjusted debt to EBITDA declined to about 3.9x as of March 31,
2016, from around 4.8x a year earlier due to EBITDA growth," said
S&P Global Ratings credit analyst Scott Tan.  "Moreover, we expect
that leverage will continue to improve over the next year such that
it remains below 4x, based on the company's stated leverage target
of 3x-4x."

The stable rating outlook reflects S&P's expectation that the
company will continue to grow revenue and EBITDA over the next year
from customer growth and the upselling of its existing customer
base to new IP-based telecommunications products and services, as
well as cost synergies from the TW Telecom acquisition, such that
adjusted leverage remains below 4x on a sustained basis.

S&P could lower its corporate credit rating on Level 3 if weaker
economic conditions or increased competition leads to higher churn
and pricing pressure that causes core revenue declines, such that
adjusted leverage rises above 4x on a sustained basis.  S&P could
also lower the rating if the company pursues a more aggressive
financial policy, resulting in leverage above the 4x area.

An upgrade is highly unlikely, given the company's stated financial
policy, which includes a net leverage target in the 3x-4x range.
Level 3 would need to maintain adjusted leverage in the high-2x
area on a sustained basis for us to consider an upgrade. S&P could
also raise the rating if the company increases its market share,
grow revenues in the high-single-digit percentage area, and improve
EBITDA margins to around the 40% area.


LEVEL ACRES: Case Summary & 12 Unsecured Creditors
--------------------------------------------------
Debtor: Level Acres, LLC
        2129 Stannards Rd.
        Wellsville, NY 14895

Case No.: 16-10964

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: May 13, 2016

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

Judge: Hon. Carl L. Bucki

Debtor's Counsel: Mike Krueger, Esq.
                  DIBBLE & MILLER, P.C.
                  55 Canterbury Rd.
                  Rochester, NY 14607
                  Tel: 585-271-1500
                  Fax: 585-271-0118
                  E-mail: mjk@dibblelaw.com

Total Assets: $939,000

Total Liabilities: $2.60 million

The petition was signed by Kevin P. Clark, sole member.

A list of the Debtor's 12 largest unsecured creditors is available
for free at http://bankrupt.com/misc/nywb16-10964.pdf


LIFEPOINT HEALTH: S&P Assigns 'BB-' Rating on $400MM Sr. Notes
--------------------------------------------------------------
S&P Global Ratings assigned its 'BB-' issue-level and '4' recovery
ratings to LifePoint Health Inc.'s $400 million senior unsecured
note issuance.  The '4' recovery rating on the notes indicates
S&P's expectation for average (30% to 50%; in the lower half of the
range) recovery in a default scenario.  S&P's existing ratings on
LifePoint, including the 'BB-' corporate credit rating, are
unchanged.

The new notes will rank pari passu with LifePoint's existing term
loan and bond debt.  Lifepoint's secured debt is only secured by
the capital stock of its subsidiaries, which S&P don't attribute
significant value to in a default.  Therefore, S&P treats this debt
as effectively unsecured and on par with the unsecured notes.
LifePoint intends to use the proceeds from the issuance, together
with cash on hand, to redeem its $400 million 6.625% senior notes
due 2020.

S&P's 'BB-' corporate credit rating reflects its view that
LifePoint's focus on rural markets will expose it to the inherent
economic weaknesses of such markets.  Although the company operates
72 hospitals in 22 states, it has generated slower organic revenue
relative to its peers due to slower economic growth rates in the
markets where it operates.  As with all health care service
companies, S&P views reimbursement risk as significant for
LifePoint, although the increased insurance coverage under the
Affordable Care Act helps reduce the number of uninsured patients.
Collectively, these factors support S&P's assessment of a weak
business risk profile.

S&P's ratings on LifePoint also reflect S&P's view that leverage
will average between 3.5x and 4x, and funds from operations to debt
will remain in the low- to mid-20% range for the next few years,
which is consistent with a significant financial risk profile.  S&P
also expects LifePoint to generate at least $300 million in free
operating cash flows per year; however, S&P thinks LifePoint will
remain acquisitive and prioritize shareholder returns over debt
repayment.

RATINGS LIST

LifePoint Health Inc.
Corporate credit rating                          BB-/Stable/--

New Rating
$400 mil senior unsecured notes due 2024         BB-
Recovery rating                                 4


LINN ENERGY: Material Terms of Restructuring Support Agreement
--------------------------------------------------------------
Prior to the filing of the bankruptcy petitions, Linn Energy, LLC,
and its debtor affiliates entered into a restructuring support
agreement with certain holders collectively holding or controlling
at least 66.67% by aggregate outstanding principal amounts under
(i) the Company's Sixth Amended and Restated Credit Agreement,
dated as of April 24, 2013, and (ii) Berry's Second Amended and
Restated Credit Agreement, dated as of Nov. 15, 2010.

The Restructuring Support Agreement sets forth, subject to certain
conditions, the commitment of the Debtors and the Consenting
Creditors to support a comprehensive restructuring of the Debtors'
long-term debt.  The Restructuring Transactions will be effectuated
through one or more plans of reorganization to be filed in the
Chapter 11 cases.

The Restructuring Support Agreement provides that the Consenting
Creditors will support the use of the LINN Debtors' and Berry's
cash collateral under specified terms and conditions, including
adequate protection terms.

Certain principal terms of the Plan are outlined below:

   * Claims under the LINN Credit Facility will receive
     participation in a new Company $2.2 billion reserve-based and
     term loan credit facility and payment of the remainder of
     claims under the LINN Credit Facility (if any) in cash or, to
     the extent not viable, a later-agreed-upon alternative
     consideration.

   * The Company's 12.00% Senior Secured Second Lien Notes due
     December 2020 will be allowed as a $2 billion unsecured claim

     consistent with the settlement agreement, dated April 4,
     2016, entered into between the Company and certain holders of
     the LINN Second Lien Notes.

   * Unsecured claims against the LINN Debtors, including under
     the LINN Second Lien Notes and the Company's unsecured notes,
     will convert to equity in the reorganized Company or
     reorganized LinnCo in to-be-determined allocations.

   * The Restructuring Support Agreement contemplates that Berry  

     will separate from the LINN Debtors under the Plan.  Claims
     under the Berry Credit Facility will receive participation in

     a new Berry exit facility, if any, and a to-be-determined
     allocation of equity in reorganized Berry.

   * Unsecured claims against Berry, including under Berry's
     unsecured notes, will receive a to-be-determined allocation
     of New Berry Common Stock up to the full amount of Berry's
     unencumbered collateral and/or collateral value in excess of
     amounts outstanding under the Berry Credit Facility.

   * Cash payments under the Plan may be funded by rights
     offerings or other new third party investments.  The
     Restructuring Support Agreement contemplates that Berry may
     undertake a marketing process for the opportunity to sponsor
     its Plan.

   * All existing equity interests of the Company, LinnCo and
     Berry will be extinguished without recovery.

The New LINN Exit Facility will consist of (i) a term loan in the
amount of $800 million and (ii) a revolving loan in the initial
amount of $1.4 billion.  The New LINN Term Loan will mature on the
earlier of June 30, 2021, or the day prior to the fourth
anniversary of the date of emergence from bankruptcy, with interest
payable at LIBOR plus 7.50% and amortized principal payments
payable quarterly, beginning March 31, 2017.  The New LINN
Revolving Loan will be composed of two tranches as follows: (a) a
Conforming Tranche with an initial amount of $1.2 billion subject
to the Borrowing Base, and (b) a Non-Conforming Tranche with an
initial amount of $200 million.  The Conforming Tranche will mature
on the earlier of June 30, 2021, or the day prior to the fourth
anniversary of the Closing Date, with an interest rate of LIBOR
plus 3.50%.  The Non-Conforming Tranche will mature on the earlier
of Dec. 31, 2020, or the day prior to the date that is three years
and six months after the Closing, with an interest rate of LIBOR
plus 5.50%.  The New LINN Exit Facility is subject to a variety of
other terms and conditions including conditions precedent to
funding, financial covenants and various other covenants and
representations and warranties.

The Plan will provide for the establishment of a customary
management incentive plan at the Company and Berry under which no
less than 10% of the New LINN Common Stock and New Berry Common
Stock, respectively, will be reserved for grants made from time to
time to the officers and other key employees of the respective
reorganized entities.  The Plan will provide for releases of
specified claims held by the Debtors, the Consenting Creditors, and
certain other specified parties against one another and for
customary exculpations and injunctions.

The Restructuring Support Agreement obligates the Debtors and the
Consenting Creditors to, among other things, support and not
interfere with consummation of the Restructuring Transactions and,
as to the Consenting Creditors, vote their claims in favor of the
Plan.  The Restructuring Support Agreement may be terminated upon
the occurrence of certain events, including the failure to meet
specified milestones relating to the filing, confirmation, and
consummation of the Plan, among other requirements, and in the
event of certain breaches by the parties under the Restructuring
Support Agreement.  The Restructuring Support Agreement is subject
to termination if the effective date of the Plan has not occurred
within 250 days of the filing of the Bankruptcy Petitions.  There
can be no assurances that the Restructuring Transactions will be
consummated.

A copy of the Restructuring Support Agreement is available for free
at https://is.gd/dDLPcy

                        About Linn Energy

Headquartered in Houston, Texas, Linn Energy, LLC and its
affiliates are independent oil and natural gas companies. The LINN
Debtors and Berry are operationally integrated.

The Debtors' workforce, which is not unionized, includes
approximately 1,650 employees. Collectively, as of year-end 2015,
the Debtors have approximately 27,000 gross productive wells in the
United States, including in California, Colorado, Illinois, Kansas,
Louisiana, Michigan, New Mexico, North Dakota, Oklahoma, Texas,
Utah, and Wyoming. As of year-end 2015, the Debtors had
approximately 4.5 trillion cubic feet equivalent of proved
reserves, of which approximately 26 percent were oil, 59 percent
were natural gas, and 15 percent were natural gas liquids. The
Debtors also own and operate pipelines, processing facilities, and
steam generators to support their production activities.

Michael C. Linn, a director on the Linn Energy and LinnCo boards,
founded LINN Energy in 2003. Since then, the Debtors have grown
from a small operator of natural gas wells into one of the largest
independent oil and gas companies in the United States. Over the
ensuing period, the Debtors carried out over 60 acquisitions and
other transactions with a total value of approximately $17
billion.

In December 2013, the Debtors acquired Berry in a stock-for-stock
transaction valued at approximately $4.6 billion, inclusive of
Berry’s net funded debt. To effectuate the transaction, LinnCo
acquired all of Berry's outstanding shares in exchange for the
issuance of LinnCo shares, and Berry's pre-acquisition funded debt
remained outstanding.

Each of Linn Energy, LLC and 14 of its subsidiaries filed a
voluntary petition under Chapter 11 of the Bankruptcy Code (Bankr.
S.D. Tex. Proposed Lead Case No. 16-60040) on May 11, 2016.  The
petitions were signed by Arden L. Walker, Jr., chief operating
officer of LINN Energy.

The Debtors listed total assets of $11.61 billion and total debts
of $8.27 billion as of March 31, 2016.

The Debtors have hired Kirkland & Ellis LLP and Kirkland & Ellis
International LLP as general bankruptcy counsel, Jackson Walker
L.L.P. as co-counsel, Lazard Freres & Co. LLC as financial advisor,
AlixPartners as restructuring advisor and Prime Clerk LLC as
claims, notice and balloting agent.

The cases are pending joint administration before Judge David R.
Jones.


LIQUIMETAL TECHNOLOGIES: Incurs $9.17 Million Net Loss in Q1
------------------------------------------------------------
Liquidmetal Technologies, Inc., filed with the Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing a
net loss and comprehensive loss of $9.17 million on $168,000 of
total revenue for the three months ended March 31, 2016, compared
to a net loss and comprehensive loss of $2.48 million on $26,000 of
total revenue for the same period in 2015.

As of March 31, 2016, Liquidmetal had $13.6 million in total
assets, $10.94 million in total liabilities, $7.12 million in
redeemable common stock and a total shareholders' deficit of $4.44
million.

"The Company anticipates that its current capital resources, when
considering expected losses from operations, will be sufficient to
fund the Company's operations through the middle of 2017.  The
Company has a relatively limited history of producing bulk
amorphous alloy components and products on a mass-production scale.
Furthermore, the ability of future contract manufacturers to
produce the Company's products in desired quantities and at
commercially reasonable prices is uncertain and is dependent on a
variety of factors that are outside of the Company's control,
including the nature and design of the component, the customer's
specifications, and required delivery timelines.  These factors
will likely require that the Company make further equity sales
under the 2016 Purchase Agreement, raise additional funds by other
means, or pursue other strategic initiatives to support its
operations beyond the middle of 2017.  There is no assurance that
the Company will be able to make equity sales under the 2016
Purchase Agreement or raise additional funds by other means on
acceptable terms, if at all.  If the Company were to make equity
sales under the 2016 Purchase Agreement or to raise additional
funds through other means by issuing securities, existing
shareholders will be diluted. If funding is insufficient at any
time in the future, the Company may be required to alter or reduce
the scope of its operations or to cease operations entirely.
Uncertainty as to the outcome of these factors raises substantial
doubt about the Company's ability to continue as a going concern."

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

                        https://is.gd/XpdsM8


                 About Liquidmetal Technologies

Based in Rancho Santa Margarita, Cal., Liquidmetal Technologies,
Inc., and its subsidiaries are in the business of developing,
manufacturing, and marketing products made from amorphous alloys.
Liquidmetal Technologies markets and sells Liquidmetal(R) alloy
industrial coatings and also manufactures, markets and sells
products and components from bulk Liquidmetal alloys that can be
incorporated into the finished goods of its customers across a
variety of industries.  The Company also partners with third-
party licensees and distributors to develop and commercialize
Liquidmetal alloy products.

Liquidmetal reported a net loss and comprehensive loss of $7.31
million on $125,000 of total revenue for the year ended Dec. 31,
2015, compared to a net loss and comprehensive loss of $6.55
million on $603,000 of total revenue for the year ended Dec. 31,
2014.

SingerLewak LLP, in Los Angeles, California, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2015, stating that the Company has suffered
recurring losses from operations, has negative cash flows from
operations and has an accumulated deficit.  This raises substantial
doubt about the Company's ability to continue as a going concern.


LMR DOORS: Hires Nicolas A. Wong Law Offices as Bankruptcy Counsel
------------------------------------------------------------------
LMR Doors & Windows, Inc., seeks permission from the U.S.
Bankruptcy Court for the District of Puerto Rico to employ Nicolas
A. Wong Law Offices as bankruptcy counsel.

The Debtor is not sufficiently familiar with the law to be able to
plan and conduct the proceedings herein without competent legal
counsel.

The Debtor has retained the Firm as its counsel in these
proceedings subject to the approval of the Court in accordance to
Rule 2014 of the Federal Rules of Bankruptcy Procedure, on the
basis of a $6,800 retainer, against which the law firm will bill on
the basis of $225 per hour, for work performed or to be performed
by Nicolas A. Wong, Esq.; $150 per hour for any associate, and $85
for paralegals, upon application(s) and the approval of the Court.

Nicolas A. Wong, Esq., a principal at the Firm, assures the Court
that the Firm is are disinterested persons, as defined in 11 U.S.C.
Section 101(14) since the Firm is not a creditor of the Debtor, nor
an equity security holder or insider, and doesn't have an interest
materially adverse to the interest of the estate or of any class of
creditors or equity security holders, by reason of any direct or
indirect relationship to, connection with, or interest in, the
Debtor or for any other reason.

LMR Doors & Windows, Inc., filed for Chapter 11 bankruptcy
protection (Bankr. D.P.R. Case No. 16-09161) on March 11, 2016.
Nicolas A. Wong, Esq., at Wong Law Offices serves as the Debtor's
bankruptcy counsel.


LPATH INC: Reports $1.94 Million Net Loss for First Quarter
-----------------------------------------------------------
LPath, Inc., filed with the Securities and Exchange Commission its
quarterly report on Form 10-Q disclosing a net loss of $1.94
million on $9,608 of revenues for the three months ended March 31,
2016, compared to a net loss of $2.77 million on $783,901 of total
revenues for the same period in 2015.

As of March 31, 2016, LPath had $9.66 million in total assets,
$906,096 in total liabilities and $8.76 million in total
stockholders' equity.

As of March 31, 2016, the company had cash and cash equivalents
totaling $7.0 million.

"We may also receive limited additional funding from future awards
of grants from NIH or DoD.  As they are currently planned, however,
we do not believe that our existing cash resources will be
sufficient to meet our operating plan for the full 12 month period
after the date of this filing.  To help extend our operating
window, we have reduced our headcount and limited our research and
product development activities.  Based on our current plans and
available resources, we believe we can maintain our current
operations through the end of the third quarter of 2016.  We
estimate that at September 30, 2016 the costs to wind-down our
operations in an orderly manner would be approximately $2.5
million.  As a result, to continue to fund our ongoing operations,
including our drug discovery and development projects, beyond the
third quarter of 2016, we would need to secure significant
additional capital.  Moreover, our expenses may exceed our current
plans and expectations, which would require us to secure additional
capital or wind-down our operations sooner than anticipated."

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

                      https://is.gd/E7qvaw

                          About LPath

San Diego, Calif.-based Lpath, Inc. is a biotechnology company
focused on the discovery and development of lipidomic-based
therapeutics, an emerging field of medical science whereby
bioactive lipids are targeted to treat human diseases.

LPath reported a net loss of $10.01 million on $1.59 million of
total revenues for the year ended Dec. 31, 2015, compared to a net
loss of $16.55 million on $5.08 million of total revenues for the
year ended Dec. 31, 2014.

Moss Adams LLP, in San Diego, California, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2015, citing that the Company's recurring losses and
negative operating cash flows raise substantial doubt about the
Company's ability to continue as a going concern.


MARCLAY EMS: Hires David E. Priest as Accountant
------------------------------------------------
Marclay EMS, Inc., successor to Marclay Community Ambulance, Inc.,
asks for authorization from the U.S. Bankruptcy Court for the
Western District of Pennsylvania to employ Certified Public
Accountant, David E. Priest, of McClure and Wolf, LLP, of
Uniontown, PA, to assist with accounting needs and payroll
services, and potential payroll tax preparation, income tax
preparation and some management and computer consulting.

The professional services that Mr. Priest and McClure and Wolf will
render include:

      a. preparation of bi-weekly payrolls;
      b. preparation of the quarterly payroll taxes; and
      c. future accounting work as becomes necessary.

Mr. Priest is requesting to be paid an hourly rate of $82 per hour
for Certified Public Accountants.

Mr. Priest assures the Court that he has no connection with the
Debtor, creditors, or any other parties in interest in this case,
or their respective attorneys or accountants, that he is a
disinterested person and does not hold or represent an interest
adverse to the bankruptcy estate with respect to the matters on
which he is proposed to be employed.

Mr. Priest can be reached at:

      David E. Priest, CPA - Partner
      McClure & Wolf, LLP
      Certified Public Accountants
      538 Morgantown Street
      Uniontown, PA 15401-5412
      Tel: (724) 437-2000
      Fax: (724) 438-8566
      E-mail: dpriest@mcclurewolfcpas.com

Marclay EMS, Inc. Successor to Marclay Community Ambulance, Inc.,
filed for a voluntary petition under Chapter 11 of the
Bankruptcy Code (Bankr. W.D. Pa. Case No. 16-21671) on May 2,
2016.

Among the creditors identified in this case are the Internal
Revenue Service and Pennsylvania Department of Revenue related to
pre and post petition tax issues.  Additionally, the Debtor intends
to continue operation of business with a number of employees.

The Debtor is represented by:

      Daniel R. White, Esq.
      ZEBLEY MEHALOV & WHITE, P.C.
      18 Mill Street Square
      P.O. Box 2123
      Uniontown, PA 15401
      Tel: (724) 439-9200
      Fax: (724) 439-8435
      E-mail: dwhite@Zeblaw.com


MARIA VISTA: Suit vs. Mi Nipomo, Costa Pacifica Dismissed
---------------------------------------------------------
Judge Peter H. Carroll of the United States Bankruptcy Court for
the Central District of California, Northern Division, granted the
motions filed by defendants Mi Nipomo, LLC, and Costa Pacifica
Estates Homeowners Association to dismiss Maria Vista Estates'
first amended complaint.

On December 29, 2015, Mi Nipomo and Costa Pacifica removed to the
Bankruptcy Court for the Central District of California, Case No.
15 CV 0600, Maria Vista Estates v. Mi Nipomo, LLC, et al., which
was filed in the Superior Court of California, County of San Luis
Obispo, on November 4, 2015, pursuant to 28 U.S.C. sections 1331,
1334, 1441, and 1452 and FRBP 9027.  Remand having been denied,
Nipomo and Costa Pacifica then sought dismissal of the First
Amended Complaint for Declaratory Relief and to Quiet Title  filed
by the plaintiff, Maria Vista Estates, the debtor in a chapter 7
case, pursuant to F.R.Civ.P. 12(b)(6).

Judge Carroll dismissed Maria Vista Estates' complaint without
leave to amend.

The bankruptcy case is In re: MARIA VISTA ESTATES, a California
General Partnership, Chapter 7, Debtor, Case No. 9:07-bk-10362-PC
(Bankr. C.D. Cal.).

The adversary proceeding is MARIA VISTA ESTATES, a California
General Partnership, Plaintiff, v. MI NIPOMO, LLC, a Delaware
limited liability company, COSTA PACIFICA ESTATES HOMEOWNERS
ASSOCIATION, a California corporation, Defendants, Adversary No.
9:15-ap-01096-PC (Bankr. C.D. Cal.).

A full-text copy of Judge Carroll's April 13, 2016 memorandum is
available at http://is.gd/IWQnBLfrom Leagle.com.

Maria Vista Estates is represented by:

          Roy E. Ogden, Esq.
          656 Santa Rosa St
          San Luis Obispo, CA 93401
          Tel: (805)544-5600

Mi Nipomo, LLC is represented by:

          Patricia H. Lyon, Esq.
          Penelope Parmes, Esq.
          TROUTMAN SANDERS LLP
          5 Park Plaza, Suite 1400
          Irvine, CA 92614
          Tel: (949)622-2700
          Fax: (949)622-2739
          Email: penelope.parmes@troutmansanders.com


MAUDORE MINERALS: Makes Assignment of Property Under BIA
--------------------------------------------------------
George Fowlie, Chairman of the Board, Interim Chief Executive
Officer and Interim Chief Financial Officer of Maudore Minerals
Ltd. ("Maudore" or the "Corporation"), on May 16 disclosed that
Maudore has made, under the Bankruptcy and Insolvency Act ("BIA"),
an assignment of its property to a trustee for the benefit of its
creditors generally.  Deloitte Restructuring Inc., which has been
acting as the monitor of the proceedings under the Companies'
Creditors Arrangement Act in respect of the corporation, has agreed
to act as bankruptcy trustee.

At a meeting of the Board of Directors of Maudore held on May 16,
2016, the directors of Maudore passed a resolution to cause the
Corporation to make an assignment under the BIA in light of the
fact that the Corporation has no access to funds to continue
operations.  Following that meeting, the Corporation made an
assignment under the BIA and is bankrupt effective May 16.

                   About Maudore Minerals Ltd.

Maudore is a Quebec-based junior gold company with more than 13
exploration projects.  One of these projects is at an advanced
stage of development with reported current and historical resources
and mining.


MIDSOUTH GOLF: May Sell Property Free of Maintenance Covenant
-------------------------------------------------------------
Judge Stephani W. Humrickhouse of the United States Bankruptcy
Court for the Eastern District of North Carolina, New Bern
Division, held that a covenant imposing on Midsouth Golf, LLC, an
affirmative obligation to maintain and operate the recreational
amenities on its property, does not run with the land, and the
property could be sold free and clear of that covenant.

Before proceeding with the confirmation of the debtor MidSouth
Golf, LLC's Amended Plan, the court deemed it prudent to resolve
first the issue of whether a covenant (the "maintenance covenant")
imposing on the debtor an affirmative obligation to maintain and
operate the recreational amenities on its property is a real
covenant that "runs with the land" and, if so, whether that means,
as argued by creditor Fairfield Harbor Property Owners Association,
Inc., that under no theory can the maintenance covenant be stripped
from the property in connection with a sale of it within the
debtor's amended Chapter 11 plan.

Judge Humrickhouse determined that the maintenance covenant is not
a real covenant and does not run with the land.  Alternatively,
Judge Humrickhouse found that even if the maintenance covenant was
a real covenant, MidSouth may seek to establish during confirmation
that the doctrine of changed circumstances applies.  The judge's
familiarity with this matter also leads him to expect that MidSouth
probably will be successful in that effort, in which event the
court will permit MidSouth to sell the property free of the
maintenance covenant within its confirmed chapter 11 plan. Also to
be determined in confirmation is the amount of Fairfield's claim.

The case is IN RE: MIDSOUTH GOLF, LLC, Chapter 11, DEBTOR, Case No.
13-07906-8-SWH (Bankr. E.D.N.C.).

A full-text copy of Judge Humrickhouse's March 29, 2016 order is
available at http://is.gd/3H8tf8from Leagle.com.

Midsouth Golf, LLC is represented by:

          Jason L. Hendren, Esq.
          Rebecca F. Redwine, Esq.
          HENDREN REDWINE & MALONE, PLLC
          4600 Marriott Drive, Suite 150
          Raleigh, NC 27612
          Tel: (919)420-7867
          Fax: (919)420-0475
          Email: jhendren@hendrenmalone.com
                 rredwine@hendrenmalone.com


MILLER BRANGUS: Hires Dunham Hildebrand as Bankruptcy Counsel
-------------------------------------------------------------
Miller Brangus LLC seeks authorization from the U.S. Bankruptcy
Court for the Middle District of Tennessee to employ Dunham
Hildebrand, PLLC, to represent the Debtor as counsel in this case.

A hearing on the motion is set for June 14, 2016, at 9:00 a.m.

On Sept. 24, 2015, the Debtor applied to this Court to approve the
employment of Emerge Law PLC as counsel.  On the petition date and
at the time of Emerge Law's employment application, undersigned
counsel Griffin S. Dunham acted as primary counsel for the Debtor.
Mr. Dunham has since started the Firm and has continued to
represent the Debtor.  The Debtor assures the Court that there is
absolutely no conflict between Emerge Law and the Firm, and the
Debtor's transition to the Firm was seamless by agreement of all
the parties.

The Firm will, among other things:

      a. render legal advice with respect to the rights, powers
         and duties of the Debtor in the management of its
         property;

      b. investigate and, if necessary, institute legal action on
         behalf of the Debtor to collect and recover assets of the

         estate of the Debtor;

      c. prepare all necessary pleadings, orders and reports with
         respect to this proceeding and to render all other legal
         services as may be necessary or proper herein;

      d. assist and counsel the Debtor in the preparation,
         presentation and confirmation of its disclosure statement

         and plan of reorganization;

      e. represent the Debtor in any forum as may be necessary to
         protect the interests of the Debtor; and

      f. perform all other legal services that may be necessary
         and appropriate in the general administration of this
         estate.

The Firm's current standard hourly rates are:

         Members and Counsel         $250-$300
         Paralegals                     $150

With the Debtor's consent, Emerge Law transferred to the Firm the
remainder of the $15,000 retainer being held for services performed
in connection with this case.  The Firm proposes to continue
holding this Retainer as security for payment of fees accrued in
connection with the representation of the Debtor.

Mr. Dunham, a member at the Firm, assures the Court that the Firm,
and its members and associates represent no interest adverse to the
Debtor or to the estate in matters upon which they are to be
engaged.  Mr. Dunham says that it is believed, and therefore
represented, that the Firm is disinterested within the meaning of
11 U.S.C. Sections 101(14) and 327.

Mr. Dunham can be reached at:

         Griffin S. Dunham, Esq.
         Henry E. Hildebrand, Esq.
         IV DUNHAM HILDEBRAND, PLLC
         1704 Charlotte Avenue, Suite 105
         Nashville, Tennessee 37203
         Tel: (615) 933-5850
         E-mail: griffin@dhnashville.com

Headquartered in Franklin, Tennessee, Miller Brangus LLC filed for
Chapter 11 bankruptcy protection (Bankr. M.D. Tenn. Case No.
15-05524) on Aug. 11, 2015, estimating its assets and liabilities
at between $1 million and $10 million each.  The petition was
signed by David Doyle Miller, member.  Judge Keith M Lundin
presides over the case.


MORGANS HOTEL: Accommodations Acquisition Reports 7.1% Stake
------------------------------------------------------------
In an amended Schedule 13D filed with the Securities and Exchange
Commission, Accommodations Acquisition Corporation and Vector Group
Ltd. disclosed that as of May 9, 2016, they beneficially own
2,459,788 shares of common stock of Morgans Hotel Group Co.
representing 7.1 percent based upon 34,764,261 shares of common
stock outstanding as of April 1, 2016, as reported in the Company's
proxy statement.  A copy of the regulatory filing is available for
free at https://is.gd/WGCBJ8

                     About Morgans Hotel Group

Based in New York, Morgans Hotel Group Co. (Nasdaq: MHGC) --
http://www.morganshotelgroup.com/-- is widely credited as the
creator of the first "boutique" hotel and a continuing leader of
the hotel industry's boutique sector.  Morgans Hotel Group
operates and owns, or has an ownership interest in, Morgans,
Royalton and Hudson in New York, Delano and Shore Club in South
Beach, Mondrian in Los Angeles and South Beach, Clift in San
Francisco, Ames in Boston, and Sanderson and St Martins Lane in
London.  Morgans Hotel Group and an equity partner also own the
Hard Rock Hotel & Casino in Las Vegas and related assets.  Morgans
Hotel Group also manages hotels in Isla Verde, Puerto Rico and
Playa del Carmen, Mexico.  Morgans Hotel Group has other property
transactions in various stages of completion, including projects
in SoHo, New York and Palm Springs, California.

Morgans Hotel reported net income attributable to common
stockholders of $5.45 million on $220 million of total revenues for
the year ended Dec. 31, 2015, compared to a net loss attributable
to common stockholders of $66.6 million on $234 million of total
revenues for the year ended Dec. 31, 2014.

As of March 31, 2016, Morgans Hotel had $518.02 million in total
assets, $736.75 million in total liabilities and a total deficit of
$218.73 million.


MORGANS HOTEL: Incurs $13.4 Million Net Loss in First Quarter
-------------------------------------------------------------
Morgans Hotel Group Co. filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q a net loss
attributable to common stockholders of $13.4 million on $51.02
million of total revenues for the three months ended March 31,
2016, compared to a net loss attributable to common stockholders of
$16.7 million on $53.3 million of total revenues for the same
period in 2015.

As of March 31, 2016, Morgans Hotel had $518 million in total
assets, $737 million in total liabilities and a total deficit of
$219 million.

As of March 31, 2016, the Company had approximately $11.9 million
in cash and cash equivalents.  The Company also had $15.3 million
of restricted cash as of March 31, 2016, which consisted primarily
of cash held in escrow accounts for debt service or lease payments,
capital expenditures, insurance programs, and taxes.  

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

                         https://is.gd/GlznnP

                      About Morgans Hotel Group

Based in New York, Morgans Hotel Group Co. (Nasdaq: MHGC) --
http://www.morganshotelgroup.com/-- is widely credited as the
creator of the first "boutique" hotel and a continuing leader of
the hotel industry's boutique sector.  Morgans Hotel Group
operates and owns, or has an ownership interest in, Morgans,
Royalton and Hudson in New York, Delano and Shore Club in South
Beach, Mondrian in Los Angeles and South Beach, Clift in San
Francisco, Ames in Boston, and Sanderson and St Martins Lane in
London.  Morgans Hotel Group and an equity partner also own the
Hard Rock Hotel & Casino in Las Vegas and related assets.  Morgans
Hotel Group also manages hotels in Isla Verde, Puerto Rico and
Playa del Carmen, Mexico.  Morgans Hotel Group has other property
transactions in various stages of completion, including projects
in SoHo, New York and Palm Springs, California.

Morgans Hotel reported net income attributable to common
stockholders of $5.45 million on $220 million of total revenues for
the year ended Dec. 31, 2015, compared to a net loss attributable
to common stockholders of $66.6 million on $234 million of total
revenues for the year ended Dec. 31, 2014.


MORGANS HOTEL: Pine River Reports 9% Stake as of May 10
-------------------------------------------------------
In an amended Schedule 13D filed with the Securities and Exchange
Commission, Pine River Capital Management L.P. and Brian Taylor
disclosed that as of May 10, 2016, they beneficially own 3,139,668
shares of common stock of Morgans Hotel Group Co. representing 9
percent of the shares outstanding.  A copy of the regulatory filing
is available at https://is.gd/iv2dcZ

                     About Morgans Hotel Group

Based in New York, Morgans Hotel Group Co. (Nasdaq: MHGC) --
http://www.morganshotelgroup.com/-- is widely credited as the
creator of the first "boutique" hotel and a continuing leader of
the hotel industry's boutique sector.  Morgans Hotel Group
operates and owns, or has an ownership interest in, Morgans,
Royalton and Hudson in New York, Delano and Shore Club in South
Beach, Mondrian in Los Angeles and South Beach, Clift in San
Francisco, Ames in Boston, and Sanderson and St Martins Lane in
London.  Morgans Hotel Group and an equity partner also own the
Hard Rock Hotel & Casino in Las Vegas and related assets.  Morgans
Hotel Group also manages hotels in Isla Verde, Puerto Rico and
Playa del Carmen, Mexico.  Morgans Hotel Group has other property
transactions in various stages of completion, including projects
in SoHo, New York and Palm Springs, California.

Morgans Hotel reported net income attributable to common
stockholders of $5.45 million on $220 million of total revenues for
the year ended Dec. 31, 2015, compared to a net loss attributable
to common stockholders of $66.6 million on $234 million of total
revenues for the year ended Dec. 31, 2014.

As of March 31, 2016, Morgans Hotel had $518.02 million in total
assets, $736.75 million in total liabilities and a total deficit of
$218.73 million.


MORGANS HOTEL: Ronald Burkle Reports 26.4% Stake as of May 9
------------------------------------------------------------
In an amended Schedule 13D filed with the Securities and Exchange
Commission, Ronald W. Burkle, et al., disclosed that as of May 9,
2016, they beneficially own 12,522,367 shares of common stock of
Morgans Hotel Group Co. representing 26.4 percent of the shares
outstanding.  A copy of the regulatory filing is available for free
at https://is.gd/rIlBdu

                     About Morgans Hotel Group

Based in New York, Morgans Hotel Group Co. (Nasdaq: MHGC) --
http://www.morganshotelgroup.com/-- is widely credited as the
creator of the first "boutique" hotel and a continuing leader of
the hotel industry's boutique sector.  Morgans Hotel Group
operates and owns, or has an ownership interest in, Morgans,
Royalton and Hudson in New York, Delano and Shore Club in South
Beach, Mondrian in Los Angeles and South Beach, Clift in San
Francisco, Ames in Boston, and Sanderson and St Martins Lane in
London.  Morgans Hotel Group and an equity partner also own the
Hard Rock Hotel & Casino in Las Vegas and related assets.  Morgans
Hotel Group also manages hotels in Isla Verde, Puerto Rico and
Playa del Carmen, Mexico.  Morgans Hotel Group has other property
transactions in various stages of completion, including projects
in SoHo, New York and Palm Springs, California.

Morgans Hotel reported net income attributable to common
stockholders of $5.45 million on $220 million of total revenues for
the year ended Dec. 31, 2015, compared to a net loss attributable
to common stockholders of $66.6 million on $234 million of total
revenues for the year ended Dec. 31, 2014.

As of March 31, 2016, Morgans Hotel had $518.02 million in total
assets, $736.75 million in total liabilities and a total deficit of
$218.73 million.


MORGANS HOTEL: Signs Voting Agreement with OTK Associates
---------------------------------------------------------
In an amended Schedule 13D filed with the Securities and Exchange
Commission, OTK Associates, LLC, Robert S. Taubman and Michael E.
Olshan disclosed that as of May 9, 2016, they beneficially own
4,500,000 shares of common stock of Morgans Hotel Group Co.
representing 12.94 percent of the shares outstanding.

On May 9, 2016, OTK and SBEEG Holdings, LLC ("Parent") entered into
a Voting Agreement relating to the proposed acquisition of the
Issuer by Parent pursuant to that certain Agreement and Plan of
Merger, dated as of May 9, 2016, by and among the Issuer, Parent,
and Trousdale Acquisition Sub, Inc. ("Merger Sub").  The Merger
Agreement provides that, subject to the terms and conditions
thereof, including the adoption and approval of the Merger
Agreement by the requisite vote of the Issuer's stockholders,
Merger Sub will be merged with and into the Issuer with the Issuer
continuing as the surviving corporation in the Merger, and each
outstanding Common Share will cease to be outstanding and will be
converted into the right to receive $2.25 in cash.

Pursuant to the Voting Agreement, OTK has agreed to irrevocably
appoint the Issuer as its proxy to vote all outstanding Common
Shares held by OTK for the vote of the shareholders of the Issuer
on matters relating to the Merger Agreement: (i) in favor of the
adoption of the Merger Agreement and (ii) against any of the
following actions (other than those that relate to the Merger or
the Merger Agreement) (A) any merger, consolidation, combination,
reorganization, recapitalization or liquidation of or by the
Issuer, (B) any sale of substantially all of the assets of the
Issuer, (C) any acquisition proposal with respect to the Issuer or
any of its subsidiaries (other than with respect to the Merger),
(D) any amendment of the Issuer's charter or bylaws or other
proposal or transaction that would reasonably be expected to
prevent the Issuer's performance of its obligations under the
Merger Agreement or consummation of the Merger or other
transactions.  To the extent the shares beneficially owned by OTK
are not voted by proxy, OTK agreed in the Voting Agreement to vote
all of such shares in same manner as described above.  OTK retains
the right to vote the shares it beneficially owns in its sole
discretion and without any other limitation on any matters other
than those set forth above.

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

                   https://is.gd/JGZEJW

                 About Morgans Hotel Group

Based in New York, Morgans Hotel Group Co. (Nasdaq: MHGC) --
http://www.morganshotelgroup.com/-- is widely credited as the
creator of the first "boutique" hotel and a continuing leader of
the hotel industry's boutique sector.  Morgans Hotel Group
operates and owns, or has an ownership interest in, Morgans,
Royalton and Hudson in New York, Delano and Shore Club in South
Beach, Mondrian in Los Angeles and South Beach, Clift in San
Francisco, Ames in Boston, and Sanderson and St Martins Lane in
London.  Morgans Hotel Group and an equity partner also own the
Hard Rock Hotel & Casino in Las Vegas and related assets.  Morgans
Hotel Group also manages hotels in Isla Verde, Puerto Rico and
Playa del Carmen, Mexico.  Morgans Hotel Group has other property
transactions in various stages of completion, including projects
in SoHo, New York and Palm Springs, California.

Morgans Hotel reported net income attributable to common
stockholders of $5.45 million on $220 million of total revenues for
the year ended Dec. 31, 2015, compared to a net loss attributable
to common stockholders of $66.6 million on $234 million of total
revenues for the year ended Dec. 31, 2014.

As of March 31, 2016, the Company had $518 million in total assets,
$737 million in total liabilities and a total deficit of $219
million.


MORGANS HOTEL: To be Acquired by Lifestyle Hospitality Company SBE
------------------------------------------------------------------
Morgans Hotel Group Co. announced it has entered into a definitive
agreement under which Morgans will be acquired by leading global
lifestyle hospitality company SBE.  Under terms of the agreement,
SBE will acquire all of the outstanding shares of Morgans common
stock for $2.25 per share in cash, which, together with the
exchange of Morgans Series A preferred securities, the assumption
of debt and transfer of capitalized leases, represents a total
enterprise value of approximately $794 million.  The per share
price represents a 69 percent premium over Morgans' unaffected
closing price on May 5, 2016, and a 54 percent premium to Morgans'
volume weighted average price for the 30 days up to and including
May 5, 2016.

As part of the transaction, affiliates of The Yucaipa Companies
will exchange $75 million in Series A preferred securities, accrued
preferred dividends, and warrants for $75 million in preferred
shares and an interest in the common equity in the acquirer and,
following the closing, the leasehold interests in three restaurants
in Las Vegas currently held by Morgans.

At closing, SBE will acquire Morgans' portfolio of thirteen owned,
operated or licensed hotel properties in London, Los Angeles, New
York, Miami, San Francisco, Las Vegas and Istanbul, including its
Hudson New York and Delano South Beach properties.  SBE is
currently working with the lenders to assume the mortgages of the
Hudson and Delano properties, approximately $422 million, and
expects this to occur at closing.

Howard M. Lorber, Morgans Chairman, said, "Morgans' Board of
Directors carefully considered all of the alternatives available to
us and we are pleased to have arrived at a transaction that we
believe is in the best interests of our shareholders, while
providing a great home for our attractive assets under a renowned
hospitality company in SBE."

The transaction, which was approved by the Board of Directors, is
expected to close in the third or fourth quarter, and is subject to
regulatory approvals, the assumption or refinancing of Morgans'
mortgage loan agreements, and customary closing conditions,
including approval of the transaction by Morgans shareholders.
Morgans shareholders representing approximately 29 percent of the
Company's outstanding shares of common stock have signed voting
agreements in support of this transaction, including OTK
Associates, Pine River Capital Management and Vector Group Ltd.
Affiliates of The Yucaipa Companies have also signed a voting
agreement in respect of their Series A preferred securities and
warrants.

SBE has obtained commitments to finance the transaction through a
combination of proceeds from the sale of new preferred equity in
the newly-formed company to a third-party investor, liquidity from
the refinancing of its existing term loans and a new revolver.

In light of the announcement, the Company's first quarter earnings
call, previously scheduled for May 6 has been cancelled.

Morgan Stanley & Co. LLC served as financial advisor and Fried,
Frank, Harris, Shriver & Jacobson LLP served as legal advisors to
Morgans Hotel Group.

                     About Morgans Hotel Group

Based in New York, Morgans Hotel Group Co. (Nasdaq: MHGC) --
http://www.morganshotelgroup.com/-- is widely credited as the
creator of the first "boutique" hotel and a continuing leader of
the hotel industry's boutique sector.  Morgans Hotel Group
operates and owns, or has an ownership interest in, Morgans,
Royalton and Hudson in New York, Delano and Shore Club in South
Beach, Mondrian in Los Angeles and South Beach, Clift in San
Francisco, Ames in Boston, and Sanderson and St Martins Lane in
London.  Morgans Hotel Group and an equity partner also own the
Hard Rock Hotel & Casino in Las Vegas and related assets.  Morgans
Hotel Group also manages hotels in Isla Verde, Puerto Rico and
Playa del Carmen, Mexico.  Morgans Hotel Group has other property
transactions in various stages of completion, including projects
in SoHo, New York and Palm Springs, California.

Morgans Hotel reported net income attributable to common
stockholders of $5.45 million on $220 million of total revenues for
the year ended Dec. 31, 2015, compared to a net loss attributable
to common stockholders of $66.6 million on $234 million of total
revenues for the year ended Dec. 31, 2014.

As of March 31, 2016, Morgans Hotel had $518.02 million in total
assets, $736.75 million in total liabilities and a total deficit of
$218.73 million.


MUSCLEPHARM CORP: Incurs $6.6 Million Net Loss in First Quarter
---------------------------------------------------------------
MusclePharm Corporation filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $6.60 million on $42.9 million of net revenue for the three
months ended March 31, 2016, compared to a net loss of $7.47
million on $41.3 million of net revenue for the same period in
2015.

As of March 31, 2016, MusclePharm had $61.2 million in total
assets, $73.1 million in total liabilities and a total
stockholders' deficit of $11.9 million.

Additionally, during April the Company signed a definitive
agreement for the sale of its wholly-owned subsidiary, BioZone
Laboratories, Inc. for a purchase price of approximately
$9,800,000, subject to certain post-closing adjustments.  "I am
pleased to report that MusclePharm continues to show improvement in
almost all facets of its business," said Ryan Drexler,
MusclePharm's interim chief executive officer, interim president
and chairman of the Board of Directors.  "While we still haven't
completely turned the corner, we believe that we are making good
progress in executing the restructuring plan and stabilizing the
company."

The previously announced and pending sale of BioZone is the latest
step in MusclePharm's restructuring plan, according to Mr. Drexler.
"We believe that the Company is in a healthier financial position
to grow the MusclePharm brand, while addressing outstanding debt
obligations."

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

                       https://is.gd/dVCDcB

                        About MusclePharm

Headquartered in Denver, Colorado, MusclePharm Corporation
(OTC BB: MSLP) -- http://www.muslepharm.com/-- is a healthy life-
style company that develops and manufactures a full line of
National Science Foundation approved nutritional supplements that
are 100 percent free of banned substances.  MusclePharm is sold in
over 120 countries and available in over 5,000 U.S. retail
outlets, including GNC and Vitamin Shoppe.  MusclePharm products
are also sold in over 100 online stores, including
bodybuilding.com, Amazon.com and Vitacost.com.

MusclePharm Corporation reported a net loss of $13.8 million in
2014, a net loss of $17.7 million in 2013 and a net loss of $19
million in 2012.


NCL CORP: S&P Raises CCR to 'BB', Outlook Stable
------------------------------------------------
S&P Global Ratings said it raised its corporate credit rating on
Miami, Fla.-based NCL Corp. Ltd. to 'BB' from 'BB-'.  The rating
outlook is stable.

At the same time, S&P raised its issue-level ratings on the
company's senior secured debt, consisting of a $625 million
revolver due 2018, a $350 million term loan B due 2021, and a
$1.375 billion term loan A due 2018, to 'BBB-' from 'BB+', in
conjunction with the upgrade of the company.  The recovery rating
remains '1', reflecting S&P's expectation for very high recovery
(90% to 100%) for lenders in a payment default.

S&P also raised its issue-level ratings on NCL's senior unsecured
notes to 'BB' from 'BB-', in conjunction with the upgrade of the
company.  The recovery rating remains '3', indicating S&P's
expectation for meaningful recovery (50% to 70%; upper half of the
range) for noteholders in the event of a payment default.  

"The upgrade reflects our forecast for adjusted debt to EBITDA to
improve to the mid-4x area in 2016, and for adjusted FFO to debt to
improve to the high-teens percent area in 2016, with further
improvement in both leverage measures in 2017," said S&P Global
Ratings credit analyst Ariel Silverberg.

"We expect cruise demand to remain good and believe continued
economic improvement across the U.S. and Eurozone will support net
yield growth and occupancy over the next several quarters,
particularly in Caribbean, Alaska, Bermuda, and Hawaii itineraries,
even as capacity increases.  We expect increased revenue resulting
from capacity growth and NCL's improving net yields coupled with
lower fuel costs (at least through 2016) will help offset expected
increases in debt to fund new ship deliveries in the next two
years.  As a result, we expect leverage to improve to the low-4x
area in 2017 from the mid-4x area in 2016 and for adjusted FFO to
debt to be in the high-teens area through 2017.  We also expect
EBITDA coverage of interest expense to remain good, in the mid-5x
area, through 2017.  These credit measures are aligned with an
improved aggressive financial risk profile assessment, as compared
to our prior highly leveraged assessment, and a one-notch higher
rating," S&P said.

The stable rating outlook on NCL reflects S&P's expectation that
EBITDA growth over the next few years will offset new debt incurred
to fund ship deliveries, resulting in a modest improvement in
credit measures.  S&P is forecasting adjusted debt EBITDA to
improve to the low-4x area in 2017 from the mid-4x in 2016 and FFO
to debt to improve to the high-teens area, levels that correlate to
S&P's aggressive financial risk assessment.


NEONODE INC: Incurs $1.36 Million Net Loss in First Quarter
-----------------------------------------------------------
Neonode Inc. filed with the Securities and Exchange Commission its
quarterly report on Form 10-Q disclosing a net loss attributable to
the Company of $1.36 million on $3.13 million of net revenues for
the three months ended March 31, 2016, compared to a net loss
attributable to the Company of $2.07 million on $2.26 million of
net revenues for the same period in 2015.

As of March 31, 2016, Neonode had $5.48 million in total assets,
$4.97 million in total liabilities and $513,000 in total
stockholders' equity.

"Our automotive business grew 33% on a quarter over quarter basis
and we expect the number of cars with our technology to increase
and our opportunities to continue to expand.  We believe the
commitment from our customers to our technology is proof that our
automotive offerings are among the best and most competitive in the
market place.  We continue to build a solid foundation for growth.
In addition to infotainment touch displays, we are expanding into
new automotive applications including: gesture based input, door
handle sensors, tailgate sensors, and of course our DRIVE steering
wheel.  We are at the beginning of what we believe will be an
exciting growth period for our automotive business," said Thomas
Eriksson, Neonode CEO.

"We are rapidly expanding our presence with new sensor modules in
commercial, automotive and consumer businesses.  Our sensor modules
will be manufactured in our fully automated production facility
located in Gothenburg, Sweden.  We have developed sensor modules
for different applications such as printers and automotive.  The
first product is our AirBar for PC's.  I am happy to report that we
started initial production and we are on plan to ramp to
mass-production over the coming months.  We entered into sales and
distribution agreements with Ingram Micro for Europe and North
America and intend to include Asia in the near term," concluded Mr
Eriksson.

Cash and accounts receivable totaled $3.6 million at March 31, 2016
compared to $4.4 million at Dec. 31, 2015.  Common shares on a
fully diluted basis totaled 45.9 million on March 31, 2016.

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

                     https://is.gd/PcdVvr

                      About Neonode Inc.

Lafayette, Calif.-based Neonode Inc. (OTC BB: NEON)
-- http://www.neonode.com/-- provides optical touch screen
solutions for hand-held and small to midsize devices.

Neonode reported a net loss attributable to the Company of
$7.82 million on $11.11 million of net revenues for the year ended
Dec. 31, 2015, compared to a net loss attributable to the Company
of $14.23 million on $4.74 million of net revenues for the year
ended Dec. 31, 2014.


NEPHROGENEX INC: Taps Cassel Salpeter as Investment Banker
----------------------------------------------------------
Nephrogenex, Inc., seeks permission from the U.S. Bankruptcy Court
for the District of Delaware to employ Cassel Salpeter & Co., LLC,
as investment banker, nunc pro tunc to the Petition Date.

A hearing on the motion is scheduled for June 2, 2016, at 2:00 p.m.
(ET).  Objections must be filed by May 25, 2016, at 4:00 p.m. (ET)

Cassel Salpeter will:

      a. render financial advice to the Debtor and participate in
         meetings or negotiations with stakeholders and other
         appropriate parties in connection with any sale
         transaction;

      b. assist the Debtor in identifying and evaluating potential

         purchasers or counterparties for any potential sale
         transaction, and marketing the potential sale transaction

         to potential purchasers or counterparties;

      c. advise the Debtor in connection with negotiations, and
         aiding in the consummation of any sale transaction;

      d. attend meetings of the Board of Directors of the Debtor
         with respect to any sale transaction, and assist the
         Debtor's senior management in making presentations to the

         Board of Directors of the Debtor as requested; and

      e. provide testimony, as necessary, with respect to any sale

         transaction in any proceeding before the Court.

Cassel Salpter will be paid:

      a. a non-refundable, initial cash fee of $137,500 payable by

         check or wire transfer in four installments: $50,000 on
         the date of the engagement agreement; $37,500 on the
         first monthly anniversary thereafter; and $25,000 on each

         of the second and third monthly anniversaries thereafter.

         Fifty percent of the Initial Fee paid to Cassel Salpeter
         pursuant to the engagement agreement will be credited
         against the sale transaction fee payable in accordance
         with the engagement agreement; provided, however, that
         the credit will only apply to the extent that the fees
         are approved substantially in their entirety by the
         Court;

      b. if the Debtor consummates a sale transaction, Cassel
         Salpeter will be paid a sale transaction fee, payable by
         cash or wire transfer in immediately available U.S. funds

         at the closing of any sale transaction, equal to the
         greater of: (x) $500,000 or (y) 3.5% of the sale
         consideration, subject to the applicable credit
         provision.  Notwithstanding the foregoing, in the event
         any sale transaction(s) includes deferred and contingent
         payment(s), the Debtor will pay to Cassel Salpeter the
         portion of any sale transaction fee relating thereto,
         payable in cash by check or wire transfer in immediately
         available U.S. funds, if and when the deferred and
         contingent payment(s) is actually paid; and

      c. reasonable out-of-pocket expenses in connection with the
         services provided.

James S. Cassel, chairman and co-founder of Cassel Salpeter,
assures the Court that neither the firm nor any of its
professionals or employees participating in or connected with the
firm's engagement with the Debtor, have any connections with the
Office of the U.S. Trustee, or any person employed in the office of
the U.S. Trustee, or the judge presiding over the Debtor's Chapter
11 case.  Neither the firm nor any of its professionals or
employees participating in or connected with the firm's engagement
with the Debtor hold or represent any interest adverse to the
Debtor's estate, and each are a disinterested person within the
meaning of Section 101(14) of the Bankruptcy Code.

Mr. Cassel can be reached at:

         James S. Cassel
         Chairman & Co-Founder
         Cassel Salpeter & Co.
         801 Brickell Avenue, Suite 1900
         Miami, FL 33131
         Tel: (305) 438-7701
         E-mail: jcassel@cs-ib.com

Raleigh, N.C.-based NephroGenex, Inc., is a drug development
company that focuses on developing novel therapies for kidney
disease.  It
develops Pyridorin (pyridoxamine dihydrochoride), a therapeutic
agent, which is in Phase III clinical study for the treatment of
diabetic nephropathy.

It filed for Chapter 11 bankruptcy protection (Bankr. D. Del. Case
No. 16-11074) on April 30, 2016, listing $4.9 million in total
assets as of April 30, 2016, and $6.2 million in total debts as of
April 30, 2016.  The petition was signed by John P. Hamill, chief
executive officer and chief financial officer.

David R. Hurst, Esq., at Cole Scotz P.C. serves as the Debtor's
bankruptcy counsel.

Cassel Salpeter & Co. LLC is the Debtor's investment banker and
financial advisor.

Kurtzman Carson Consultants LLC is the Debtor's claims and noticing
agent.


NORTEL NETWORKS: Court to Hear Bid for Interim Creditor Payments
----------------------------------------------------------------
A U.S. bankruptcy court is set to hear a motion filed by Liquidity
Solutions Inc. to direct Nortel Networks Inc. to make interim
payments to certain creditors.

The U.S. Bankruptcy Court in Delaware will take up the motion in a
hearing scheduled for May 24, 2016.
  
Liquidity Solutions wants the court to direct Nortel to make an
interim distribution of a portion of its approximately $591 million
of cash-on-hand to creditors holding administrative and priority
claims.

The company also wants Nortel to make an interim distribution of
not less than $318 million to unsecured creditors.

In the same filing, Liquidity Solutions proposes the establishment
of a $100 million reserve "for yet to be incurred or unknown
administrative costs."

                       About Nortel Networks

Headquartered in Ontario, Canada, Nortel Networks Corporation and
its various affiliated entities provided next-generation
technologies, for both service provider and enterprise networks,
support multimedia and business-critical applications.  Nortel did
Networks Limited was the principal direct operating subsidiary of
Nortel Networks Corporation.

On Jan. 14, 2009, Nortel Networks Inc.'s ultimate corporate parent
Nortel Networks Corporation, NNI's direct corporate parent Nortel
Networks Limited and certain of their Canadian affiliates commenced
a proceeding with the Ontario Superior Court of Justice under the
Companies' Creditors Arrangement Act (Canada) seeking relief from
their creditors.  Ernst & Young was appointed to serve as monitor
and foreign representative of the Canadian Nortel Group.  That same
day, the Monitor sought recognition of the CCAA Proceedings in U.S.
Bankruptcy Court (Bankr. D. Del. Case No. 09-10164) under Chapter
15 of the U.S. Bankruptcy Code.

That same day, NNI and certain of its affiliated U.S. entities
filed voluntary petitions for relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Del. Case No. 09-10138).

In addition, the High Court of England and Wales placed 19 of NNI's
European affiliates into administration under the control of
individuals from Ernst & Young LLP.  Other Nortel affiliates have
commenced and in the future may commence additional creditor
protection, insolvency and dissolution proceedings around the
world.

On May 28, 2009, at the request of administrators, the Commercial
Court of Versailles, France, ordered the commencement of secondary
proceedings in respect of Nortel Networks S.A.  On June 8, 2009,
Nortel Networks UK Limited filed petitions in U.S. Bankruptcy Court
for recognition of the English Proceedings as foreign main
proceedings under Chapter 15.

U.S. Bankruptcy Judge Kevin Gross presides over the Chapter 11 and
15 cases.  Mary Caloway, Esq., and Peter James Duhig, Esq., at
Buchanan Ingersoll & Rooney PC, in Wilmington, Delaware, serves as
Chapter 15 petitioner's counsel.

In the Chapter 11 case, James L. Bromley, Esq., and Howard S.
Zelbo, Esq., at Cleary Gottlieb Steen & Hamilton, LLP, in New York,
serve as the U.S. Debtors' general bankruptcy counsel; Derek C.
Abbott, Esq., at Morris Nichols Arsht & Tunnell LLP, in Wilmington,
serves as Delaware counsel.  The Chapter 11 Debtors' other
professionals are Lazard Freres & Co. LLC as financial advisors;
and Epiq Bankruptcy Solutions LLC as claims and notice agent.

The U.S. Trustee appointed an Official Committee of Unsecured
Creditors in respect of the U.S. Debtors.

An ad hoc group of bondholders also was organized.  An Official
Committee of Retired Employees and the Official Committee of
Long-Term Disability Participants tapped Alvarez & Marsal
Healthcare Industry Group as financial advisor.  The Retiree
Committee is represented by McCarter & English LLP as Delaware
counsel, and Togut Segal & Segal serves as the Retiree Committee.
The Committee retained Alvarez & Marsal Healthcare Industry Group
as financial advisor, and Kurtzman Carson Consultants LLC as its
communications agent.

Several entities, particularly, Nortel Government Solutions
Incorporated and Nortel Networks (CALA) Inc., have material
operations and are not part of the bankruptcy proceedings.

As of Sept. 30, 2008, Nortel Networks Corp. reported consolidated
assets of $11.6 billion and consolidated liabilities of $11.8
billion.  The Nortel Companies' U.S. businesses are primarily
conducted through Nortel Networks Inc., which is the parent of
majority of the U.S. Nortel Companies.  As of Sept. 30, 2008, NNI
had assets of about $9 billion and liabilities of $3.2 billion,
which do not include NNI's guarantee of some or all of the Nortel
Companies' about $4.2 billion of unsecured public debt.

Since the commencement of the various insolvency proceedings,
Nortel has sold its business units and other assets to various
purchasers.  Nortel has collected roughly $9 billion for
distribution to creditors.  Of the total, $4.5 billion came from
the sale of Nortel's patent portfolio to Rockstar Bidco, a
consortium consisting of Apple Inc., EMC Corporation,
Telefonaktiebolaget LM Ericsson, Microsoft Corp., Research In
Motion Limited, and Sony Corporation.  The consortium defeated a
$900 million stalking horse bid by Google Inc. at an auction.  The
deal closed in July 2011.

Nortel has filed a proposed plan of liquidation in the U.S.
Bankruptcy Court.  The Plan generally provides for full payment on
secured claims with other distributions going in accordance with
the priorities in bankruptcy law.

The trial on how to divide proceeds among creditors in the U.S.,
Canada, and Europe commenced on Sept. 22, 2014.  The question of
how to divide $7.3 billion raised in the international bankruptcy
of Nortel Networks Corp. was answered on May 12, 2015, by two
judges, one in the U.S. and one in Canada.  Justice Frank Newbould
of the Ontario Superior Court of Justice in Toronto and Judge Kevin
Gross of the U.S. Bankruptcy Court in Wilmington, Del., agreed on
the outcome: a modified pro rata split of the money.


NORTHERN OIL: Amends Credit Agreement with Royal Bank
-----------------------------------------------------
Northern Oil and Gas, Inc., entered into an amendment to its third
amended and restated credit agreement, dated Feb. 28, 2012, as
amended, governing the Company's revolving credit facility with
Royal Bank of Canada, as Administrative Agent, and the lenders
party thereto.  Pursuant to the Amendment, the Company's
semi-annual borrowing base redetermination was completed and the
borrowing base under the credit facility was reduced to $350
million.  As of May 9, 2016, the Company had $117 million in
outstanding borrowings under the credit facility, leaving $233
million of remaining availability.  The next redetermination of the
borrowing base is scheduled for Oct. 1, 2016.

The Amendment also amends certain other provisions of the Credit
Agreement, including to (i) reduce the minimum ratio of EBITDAX to
interest expense that the Company is required to maintain
(currently 2.5 to 1.0) beginning with the quarter ending Dec. 31,
2016, and stepping down through the quarter ending March 31, 2018,
(ii) increase by 50 basis points the interest rate paid on
borrowings under the credit facility, and (iii) limit the Company's
ability to maintain excess cash liquidity without using it to
reduce outstanding borrowings under the credit facility.

A full-text copy of the Eight Amendment to Third Amended and
Restated Credit Agreement is available for free at:

                     https://is.gd/Roo1nN

                       About Northern Oil

Northern Oil and Gas, Inc. is an exploration and production company
with a core area of focus in the Williston Basin Bakken and Three
Forks play in North Dakota and Montana.  More information about
Northern Oil and Gas, Inc. can be found at
http://www.NorthernOil.com/

Northern Oil reported a net loss of $975 million in 2015 following
net income of $164 million in 2014.

As of March 31, 2016, Northern Oil had $573 million in total
assets, $896 million in total liabilities and a total stockholders'
deficit of $323 million.


NORTHERN OIL: Incurs $127 Million Net Loss in First Quarter
-----------------------------------------------------------
Northern Oil and Gas, Inc., filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $127 million on $31.8 million of total revenues for the three
months ended March 31, 2016, compared to a net loss of $230 million
on $76.1 million of total revenues for the same period in 2015.

As of March 31, 2016, Northern Oil had $573 million in total
assets, $896 million in total liabilities, and a total
stockholders' deficit of $322.50 million.

"Our long standing focus on capital discipline allowed Northern to
reduce spending, generate free cash flow and pay down an additional
$33 million of debt during the quarter," commented Northern's Chief
Executive Officer, Michael Reger.  "With our borrowing base
redetermination and the improvements to our covenant requirements,
we are in a strong liquidity position to continue the execution of
our business plan."

At March 31, 2016, Northern had $117 million in outstanding
borrowings under its revolving credit facility, down from $150
million at Dec. 31, 2015.  On May 6th the amended borrowing base
was set at $350 million, providing quarter-end liquidity of $237.4
million, composed of $4.4 million in cash and $233.0 million of
revolving credit facility availability.

In connection with the borrowing base redetermination, the credit
agreement governing the revolving credit facility was amended to
(i) reduce the minimum ratio of EBITDAX to interest expense that
Northern will be required to maintain in future quarters, (ii)
increase the interest rate on borrowings by 50 basis points and
(iii) limit Northern's ability to maintain excess cash liquidity
without using it to reduce outstanding borrowings under the
revolving credit facility.

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

                    https://is.gd/wx6Flq

                     About Northern Oil

Northern Oil and Gas, Inc. is an exploration and production company
with a core area of focus in the Williston Basin Bakken and Three
Forks play in North Dakota and Montana.  More information about
Northern Oil and Gas, Inc. can be found at www.NorthernOil.com.

Northern Oil reported a net loss of $975.35 million in 2015
following net income of $163.74 million in 2014.


NUO THERAPEUTICS: Court Approves Revised $229K KEIP
---------------------------------------------------
The Honorable Mary F. Walrath of the U.S. Bankruptcy Court for the
District of Delaware approves the Revised Key Employee Incentive
Plan and authorizes Nuo Therapeutics, Inc., to make payments to the
KEIP Participants pursuant to the Revised KEIP.

In order to maximize and preserve going-concern value, the Debtor
has sought and obtained the Court's permission to implement both a
key employee incentive program and a key employee retention program
tied to the amount of sale proceeds and sale consummation,
respectively, for its 21 remaining employees who play key roles in
the marketing of the Debtor's assets and facilitating a proposed
sale, and operating the Debtor's business during the pendency of
the Chapter 11 case.

Because the Debtor failed to meet certain sale-related milestones
and conditions under its DIP Loan Agreement, forcing the Debtor to
abandon the sale process, the Debtor, its Lenders, the Official
Committee of Unsecured Creditors, and the Ad Hoc Equity Committee
negotiated a global settlement, which formed the basis for the
reorganization and the recapitalization of the Debtor through a
Chapter 11 plan that is structured around a Capital Raise through
the private placement of new common stock in the Reorganized
Debtor, the Debtor further discussed.

Accordingly, the Debtor submitted to the Court certain revisions to
its existing KEIP and KERP -- although in substance, the Revised
Bonus Programs mirror the Initial Bonus Programs -- to reflect the
changed circumstances realigned with the Debtor's and the
employees' expectations to generate and preserve value through the
chapter 11 process: generally, the revised programs tie bonuses to
(a) the success of the Capital Raise and (b) remaining with the
Debtor through the consummation of the Plan. Likewise, the Debtor
asks the Court to approve its Revised KEIP where funding for such
the Revised KEIP and KERP -- in the aggregate amount of $229,167 --
is incorporated into the approved DIP budget for this shall be
provided by the Debtor’s postpetition lenders.

Although the sale process has already been abandoned, however, the
Debtor's need to incentivize and/or retain its employees has never
changed because the Debtor's ability to conduct a successful
Capital Raise, confirm the Plan, and emerge from chapter 11 on a
timely basis is dependent on the efforts of each of its employees.
Such that the Debtor's employees' efforts are essential in
generating investor interest in the proposed Capital Raise and
thereby maximizing creditor recoveries in the Debtor’s case.   

Nuo Therapeutics, Inc. is represented by:

       William P. Bowden, Esq.
       Stacy L. Newman, Esq.
       ASHBY & GEDDES, P.A.
       500 Delaware Avenue, P.O. Box 1150
       Wilmington, Delaware  19899-1150
       Telephone: (302) 654-1888
       Facsimile: (302) 654-2067
       Email: wbowden@ashby-geddes.com
              snewman@ashby-geddes.com  

       -- and --  

       Sam J. Alberts, Esq.
       DENTONS US LLP
       1301 K Street, NW
       Suite 600. East Tower
       Washington, D.C. 20005
       Telephone:  (202) 408-7004
       Facsimile:  (202) 408-6399
       Email: sam.alberts@dentons.com  

       -- and --  

       Bryan E. Bates, Esq.
       DENTONS US LLP
       303 Peachtree Street, NE
       Suite 5300
       Atlanta, Georgia 30308
       Telephone: (404) 527-4073
       Facsimile: (404) 527-4198
       Email: bryan.bates@dentons.com

              About NUO Therapeutics

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

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

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

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


OAK CREEK PLAZA: Case Summary & 11 Unsecured Creditors
------------------------------------------------------
Debtor: Oak Creek Plaza, L.L.C.
        150 South Wacker Drive, Suite 2100
        Chicago, IL 60606

Case No.: 16-16324

Chapter 11 Petition Date: May 13, 2016

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

Judge: Hon. Deborah L. Thorne

Debtor's Counsel: Paul M Bach, Esq.
                  BACH LAW OFFICES
                  P.O. Box 1285
                  Northbrook, IL 60065
                  Tel: 847 564-0808
                  Fax: 847 564-0985
                  E-mail: paul@bachoffices.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Ronald L. Boorstein, managing partner.

A list of the Debtor's 11 largest unsecured creditors is available
for free at http://bankrupt.com/misc/ilnb16-16324.pdf


OAKLAND PHYSICIANS: Patient Care Ombudsman Issues 16th Report
-------------------------------------------------------------
Deborah L. Fish, patient care ombudsman of Oakland Physicians
Medical Center, L.L.C., d/b/a Doctors' Hospital of Michigan,
submitted her 16th report.

As of May 1, 2016, the estate assets were vested in the reorganized
Debtor.  As a result, patients and staff will no longer address
their concerns to the Patient Care Ombudsman.

If a patient or a staff member had an issue regarding patient care,
that person could report the event to and seek assistance from the
hospital's in-house patients' right advocate, the State of Michigan
Dept. of Licensing and the Joint Commission on Accreditation.
Additionally, if it was an adult mental health issue, it could be
reported at the Oakland County Mental Health Department and/or
Common Ground.

As of April 25, 2016, the hospital continues to address and resolve
outstanding issues relating to oversight and staffing.  The staff
providing direct patient care continues to do their job with the
utmost concern for the patients.

                 About Oakland Physicians

Oakland Physicians Medical Center, LLC, filed for Chapter 11
bankruptcy protection (Bankr. E.D. Mich. Case No. 15-51011) on July
22, 2015, estimating its assets at between $1 million and $10
million and its liabilities at between $10 million and $50 million.
The petition was signed by Yatinder M. Singhal, M.D.,
member/chairman of the Board.

Carol Hopkins at The Oakland Press recalls that the Hospital was
ordered in June 2015 to pay more than $2.7 million as a result of a
lawsuit regarding loans, some of which were paid by a doctor who,
as recently as February 2015, had been listed as a member of the
Hospital's four-person board of directors.  Crain's Detroit
Business relates that the Hospital had been trying to cope with a
lawsuit filed by the Shree Investment Group and several physician
investors for unpaid loans of about $2 million.

Citing Cost Report Data, Crain's Detroit Business reports that the
Hospital lost $59.5 million from 2009 to 2013.  Crain's says
there's no financial information available for 2014 and 2015.  

According to the report, the Hospital tried over the past several
years to lessen operating expenses.  The report states that the
Hospital closed its emergency department in October 2013 but in
January 2014 expanded its urgent care center to 24 hours.  The
Hospital laid off in April some 40 of the estimated 300 employees
and earlier this year, more than 170 hospital retirees were
notified their life insurance coverage was terminated, effective
Dec. 31, 2015, the report adds.

Judge Walter Shapero presides over the case.

Thomas B. Radom, Esq., at Butzel Long, A Professional Corporation,
serves as the Company's bankruptcy counsel.

The physician-owned 47-bed hospital Oakland Physicians Medical
Center, LLC, is headquartered in Bloomfield Hills, Michigan.
Oakland Physicians is the legal name of Doctors Hospital.


ODYSSEY ACADEMY: S&P Lowers Rating on Revenue Debt to 'BB+'
-----------------------------------------------------------
S&P Global Ratings lowered its underlying rating for credit program
on Arlington Higher Education Finance Corp., Texas' education
revenue debt and taxable education revenue debt, issued for Odyssey
Academy Inc., one notch to 'BB+' from 'BBB-'.

The rating service also lowered its long-term rating on Texas
Public Finance Authority Charter School Finance Corp.'s revenue
debt, issued for Odyssey Academy, one notch to 'BB+' from 'BBB-'.
The outlooks are negative.

The rating action and negative outlook reflect S&P Global Ratings'
opinion of the academy's weakening operations and declining maximum
annual debt service coverage over the past couple of years to
levels the rating service believes are no longer commensurate with
an investment-grade credit.  The rating service recognizes some
difficulties with integrating the Bay Area Charter School with the
academy postmerger, hitting enrollment projections, and expanding
into high school grades.  Although there could be operating
pressure until the academy completes its high school expansion, S&P
Global Ratings believes the rating is currently appropriate because
of the academy's stable-to-growing enrollment, good academic
performance, and efforts to achieve break-even operations by fiscal
2017.

"We could lower the rating further during the one-year outlook
period if annual debt service coverage were to fall below 1x for
fiscal 2016, causing an event of default, or if the academy were to
fail to achieve break-even operations in fiscal 2017.  In addition,
we would view declines in liquidity or enrollment growth below
projections negatively," said S&P Global Ratings credit analyst
Gauri Gupta.  "Although we do not believe an upgrade is likely
during the one-year outlook period, we could revise the outlook to
stable if the charter school were to meet projected enrollment,
improve operations to roughly break even on a combined basis, and
generate financial metrics in excess of financial covenant
requirements."

The negative outlook reflects S&P Global Ratings' expectation that
financial performance will likely remain pressured, resulting in a
full-accrual deficit for fiscal 2016 and annual debt service
coverage below 1.1x.  The rating service expects enrollment will
grow as management adds 12th-grade classes to both campuses and
draws students from its waitlists.  S&P Global Ratings also expects
management will execute its plan to achieve break-even results on a
full-accrual basis by fiscal 2017.



OFFICE DEPOT: S&P Affirms 'B-' CCR, Off CreditWatch Positive
------------------------------------------------------------
S&P Global Ratings affirmed its ratings on Boca Raton, Fla.-based
Office Depot Inc., including the 'B-' corporate credit rating, and
removed them from CreditWatch with positive implications.  S&P
placed the ratings on CreditWatch on Feb. 4, 2015, when the company
announced it entered into an agreement to be acquired by Staples
Inc.  The outlook is stable.

"The company's smooth integration with Office Max, minimal
near-term debt maturities, no maintenance financial covenants, and
benefits from cost savings that provides some operational
flexibility support the rating," said credit analyst Andy Sookram.
"Office Depot participates in the challenging office supplies
retailing industry, which is facing secular demand declines and
intense competition."

The company's adequate liquidity position, which includes decent
cash flow generation, good availability under its ABL facility, no
maintenance financial covenants, and significant cash balances,
supports the stable rating outlook.  S&P believes these factors
support the company's operations over the next year as it manages
the Office Max integration and implements other operational
initiatives in the challenging office supply retail sector.  Though
S&P forecasts modest declines in EBITDA margins, S&P expects the
company to maintain healthy debt service coverage ratios.

A downgrade would be predicated on the company having an
unstainable capital structure or weak liquidity coupled with EBITDA
declining to about $200 million, a level that would provide thin
coverage of cash interest and capital investments.  Further, a
scenario involving the company's inability to renew its revolving
credit facility before it expires in May 2017, or if cash balances
were to decline to negligible levels could result in a downgrade.

If the company's quarterly sales trends stabilize over the next one
to two years and demonstrates it can maintain its performance
trends, S&P may consider an upgrade by revising its comparable
ratings analysis (CRA) to neutral from negative.  The CRA currently
drives the corporate credit rating one notch below the anchor
rating. Though unlikely, S&P may raise the rating without any
material credit ratio enhancement or a positive reassessment of its
business.  In this situation, the company's business strategies
lead to sustained increase of operating trends and the industry
environment significantly improves.


ORIENTAL CANTONES: Taps Robert Millan as Bankruptcy Counsel
-----------------------------------------------------------
Oriental Cantones, Inc., seeks permission from the U.S. Bankruptcy
Court for the District of Puerto Rico to employ Robert Millan,
Esq., at Millan Law Offices as bankruptcy counsel.

The Debtor is not familiar with the bankruptcy laws to be able to
pursue the proceedings without competent legal counsel.

The Debtor paid Mr. Millan a $7,000 retainer on Jan. 28, 2016.  Mr.
Millan charges $200 per hour for work performed.  His paralegals
bill $50 per hour.

Mr. Millan assures the Court that he is an uninterested person as
that term is defined in 11 U.S.C., Section 101(14) since he is not
a debtor, creditor, equity security holder or, nor has he been
within two years before the date of the filing of Debtor's petition
an employee of the Debtor.  Mr. Millan says that he does not have
an interest materially adverse to the interest of the estate or of
any class of creditors or equity security holders, by reason of any
direct or indirect relationship to, connection with, or interest in
the debtor or for any other reason.

Mr. Millan can be reached at:

      Robert Millan, Esq.
      ROBERT MILLAN
      Calle San Jose No. 250
      San Juan, PR 00901
      Tel: (787) 725-0946
      Fax: (787) 725-0946
      E-mail: rmi3183180@aol.com

Oriental Cantones, Inc., filed for Chapter 11 bankruptcy protection
(Bankr. D.P.R. Case No. 16-02759) on April 8, 2016.  Robert Millan,
Esq., at Millan Law Offices serves as the Debtor's bankruptcy
counsel.


PEABODY ENERGY: Prairie State Agreement Approval Sought
-------------------------------------------------------
Debtor Peabody Electricity, LLC ("PE") and Peabody Energy
Corporation("PEC")ask the U.S. Bankruptcy Court for the Eastern
District of Missouri, Eastern Division, to authorize the assumption
of the Prairie State Interest Purchase and Sale Agreement ("Prairie
State Agreement") between PE and Wabash Valley Power Association,
Inc., and approve the Prairie State Sale. They also ask the Court
to dismiss Lively Grove Energy Partners, LLC ("LGEP") as a debtor
entity, upon consummation of the Prairie State Sale.

The Prairie State Energy Campus ("Prairie State") is an electric
generating facility that uses reserves from its adjacent coal mine
to supply the generating facility. Debtor LGEP's sole asset is a
5.06% participation interest in Prairie State and a prorate portion
of related Prairie State project assets.

PE entered into the Prairie State Agreement with Wabash, wherein PE
agreed to sell 100% of its ownership interest in LGEP to Wabash for
$57 million in cash and assumption of certain liabilities subject
to certain post-closing adjustments to reconcile certain revenues,
expenditures and expenses attributable to the period prior to the
closing of the transaction ("Prairie State Sale").

The Prairie State Agreement contains, among others, these relevant
terms:

     (a) Purchase and Sale: Wabash agrees to purchase and accept
delivery of the LGEP Membership Interest from PE. PE agrees to
sell, convey, assign, transfer and deliver the LGEP Membership
Interest to Wabash free and clear of any encumbrances, other than
those permitted by the Prairie State Agreement and applicable law.

     (b) Covenant Concerning Regulatory Appeal: Wabash and PE shall
cooperate in any filings, notifications, reports and information
concerning any governmental authority in connection with the
Prairie State Sale, including, among others, approval from FERC and
IURC. The parties also agree to use their respective good faith
efforts to cause any applicable waiting periods to expire and any
objections to the Prairie State Sale to be withdrawn before the
closing date. At the time of closing, all necessary regulatory
approvals must be issued and be in full force.

     (c) Releases: Subject to the parties' indemnification
obligations contained in Section 9 of the Prairie State Agreement,
Wabash agrees to release PE and its affiliates from any liability
relating to the LGEP Membership Interest and the Prairie State
Ownership Interest at the time of closing.

     (d) Project-Related Liabilities: Wabash agrees to assume at
closing of the Prairie State Sale the obligation to pay, discharge
or perform, when due, all liabilities or obligations of LGEP,
excluding any alleged liabilities arising from claims of third
parties based on actions or representations by PE in connection
with the development of Prairie State prior to the execution of the
Prairie State Agreement.

The Debtors aver that upon the closing of the Prairie State Sale
the chapter 11 case of LGEP will be dismissed.  They further
contend that in connection with such closing and dismissal, all
guaranties and other liens, claims and encumbrances against LGEP or
its assets under the Debtors' prepetition agreements or agreements
or instruments related to any prepetition indebtedness will be
released and of no further force and effect.

The Debtors contend that the sale will benefit Debtor PE's estate
by providing it with $57 million in cash and an estimated
additional net operating loss benefit of approximately $125
million.  They further contend that the assumption of the Prairie
State Agreement is a proper exercise of PE's business judgment.

"Under the terms and conditions of the Prairie State Agreement, PE
is selling the ownership interest in LGEP to Wabash.  Once the
Prairie State Sale closes, LGEP will cease to be a subsidiary of
Debtor PEC – it will be owned entirely by Wabash.  In order to
prevent Wabash from owning a debtor entity, the chapter 11 case
against LGEP must be dismissed effective upon the closing of the
Prairie State Sale," the Debtors aver.

The Debtors' Motion is scheduled for hearing on May 17, 2016 at
10:00 a.m.  The deadline for the submission of responses to the
Debtors' Motion is set on May 12, 2016.

Peabody Energy Corporation and its affiliated debtors are
represented by:

          Steven N. Cousins, Esq.
          Susan K. Ehlers, Esq.
          ARMSTRONG TEASDALE LLP
          7700 Forsyth Boulevard, Suite 1800
          St. Louis, MO 63105
          Telephone: (314)621-5070
          Facsimile: (314)612-2239
          E-mail: scousins@armstrongteasdale.com
                 sehlers@armstrongteasdale.com

                - and -

          Heather Lennox, Esq.
          JONES DAY
          North Point
          901 Lakeside Avenue
          Cleveland, OH 44114
          Telephone: (216)586-3939
          Facsimile: (216)579-0212
          E-mail: hlennox@jonesday.com

                 - and -

          Amy Edgy, Esq.
          Daniel T. Moss, Esq.
          JONES DAY
          51 Louisiana Avenue, N.W.
          Washington, D.C. 20001-2113
          Telephone: (202)879-3939
          Facsimile: (202)626-1700
          E-mail: aedgy@jonesday.com
                  dtmoss@jonesday.com

                 About Peabody Energy Corporation

Headquartered in St. Louis, Missouri, Peabody Energy Corporation
claims to be the world's largest private-sector coal company.  As
of Dec. 31, 2014, the Company owned interests in 26 active coal
mining operations located in the United States (U.S.) and
Australia.  The Company has a majority interest in 25 of those
mining operations and a 50% equity interest in the Middlemount
Mine
in Australia.  In addition to its mining operations, the Company
markets and brokers coal from other coal producers, both as
principal and agent, and trade coal and freight-related contracts
through trading and business offices in Australia, China, Germany,
India, Indonesia, Singapore, the United Kingdom and the U.S.

Peabody posted a net loss of $1.988 billion for 2015, wider from
the net loss of $777 million in 2014 and the $513 million net loss
in 2013.

At Dec. 31, 2015, the Company had total assets of $11.02 billion
against $10.1 billion in total liabilities, and stockholders'
equity of $918.5 million.

On April 13, 2016, Peabody Energy Corp. and 153 affiliates filed
voluntary petitions for relief under Chapter 11 of the United
States Bankruptcy Code.  The 154 cases are pending joint
administration before the Honorable Judge Barry S. Schermer under
Case No. 16-42529 in the U.S. Bankruptcy Court for the Eastern
District of Missouri.

As of the Petition Date, PEC has approximately $4.3 billion in
outstanding secured debt obligations and $4.5 billion in
outstanding unsecured debt obligations.

The Debtors tapped Jones Day as general counsel; Armstrong,
Teasdale LLP as local counsel; Lazard Freres & Co. LLC and
investment banker Lazard PTY Limited as investment banker; FTI
Consulting, Inc., as financial advisors; and Kurtzman Carson
Consultants, LLC, as claims, ballot and noticing agent.


PENSKE AUTOMOTIVE: S&P Rates Proposed $500MM Sr. Sub. Notes 'B+'
----------------------------------------------------------------
S&P Global Ratings assigned its 'B+' issue-level rating and '6'
recovery rating to Bloomfield Hills, Mich.-based auto retailer
Penske Automotive Group Inc.'s proposed $500 million senior
subordinated notes due 2026.  The '6' recovery rating indicates
S&P's expectation for negligible recovery (0%-10%) in the event of
a payment default.  The company states that it will use the
proceeds from this issuance to repay the outstanding borrowing
under its U.S. revolver and for general working capital purposes.

The proposed senior subordinated notes will rank junior in right of
payment to all of Penske's existing and future senior indebtedness,
rank equally with all of its existing and future unsecured senior
subordinated indebtedness, rank senior in right of payment to any
future subordinated indebtedness, be effectively subordinated to
all of its secured indebtedness to the extent of the value of the
assets securing such indebtedness, and be structurally subordinated
to all indebtedness and other liabilities of subsidiaries that do
not guarantee the notes.

S&P's ratings on Penske reflect the company's resilient business
model--including the stability of its EBITDA relative to its
revenue (the company has a high degree of variable costs and
multiple revenue sources)--and its very profitable service
business, which does not depend on vehicle sales.

RATINGS LIST

Penske Automotive Group Inc.
Corporate Credit Rating           BB/Stable/--

New Ratings

Penske Automotive Group Inc.
Prpsd $500M Sr Sub Nts Due 2026   B+
  Recovery Rating                  6


PETALUMA FAMILY: Case Summary & 2 Unsecured Creditors
-----------------------------------------------------
Debtor: Petaluma Family Limited Partnership
        3419 E Chapman Ave Ste 353
        Orange, CA 92869

Case No.: 16-12035

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: May 13, 2016

Court: United States Bankruptcy Court
       Central District of California (Santa Ana)

Judge: Hon. Erithe A. Smith

Debtor's Counsel: Yoon O Ham, Esq.
                  LEWIS & HAM, LLP
                  1425 W Foothill Blvd Ste 235
                  Upland, CA 91786
                  Tel: 909-256-2920
                  Fax: 909-256-2927
                  E-mail: hamy@lewishamlaw.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Gary Kanter, manager.

A list of the Debtor's two largest unsecured creditors is available
for free at http://bankrupt.com/misc/cacb16-12035.pdf


PICO AT PICO: Case Summary & 2 Unsecured Creditors
--------------------------------------------------
Debtor: Pico at Pico Holdings LLC
        721 S Harbor Blvd
        Fullerton, CA 92832

Case No.: 16-12039

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: May 13, 2016

Court: United States Bankruptcy Court
       Central District of California (Santa Ana)

Judge: Hon. Theodor Albert

Debtor's Counsel: Yoon O Ham, Esq.
                  LEWIS & HAM, LLP
                  1425 W Foothill Blvd Ste 235
                  Upland, CA 91786
                  Tel: 909-256-2920
                  Fax: 909-256-2927
                  E-mail: hamy@lewishamlaw.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Gary Kanter, manager.

A list of the Debtor's two largest unsecured creditors is available
for free at http://bankrupt.com/misc/cacb16-12039.pdf


PICO HOLDINGS: CEO Pay Negotiated in "Bad Faith", River Road Says
-----------------------------------------------------------------
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.

On May 11, 2016, River Road Asset Management filed another 13-D
with the Securities and Exchange Commission. And RPN rejoiced.

In a letter addressed to the PICO Board, J. Justin Akin, RRAM small
cap fund manager, notes that in its 11-year history, River Road has
only filed three 13-Ds, the latest of which targeted PICO in
February 2015. Mr. Akin writes, "The new employment agreement of
the CEO was first disclosed in the most recent 10-K (filed
3/14/16). The contract was finalized prior to the Central Square
settlement agreement, which resulted in significant changes to the
composition and committee assignments of the PICO Board. Since the
agreement was negotiated over several months, many of the new Board
members (Eric Speron, Howard Brownstein, Raymond Marino, Daniel
Silvers, and Andrew Cates) had little or no opportunity to
influence it. RRAM STRONGLY BELIEVES THE NEW EMPLOYMENT AGREEMENT
OF THE CEO WAS NEGOTIATED IN BAD FAITH AND LACKS PROPER
ACCOUNTABILITY." [Capitalization in original].

The activist bloggers gleefully join in Mr. Akin's frustration:
"While such a statement would be tame for RPN, mention of “bad
faith” is pretty strong for Mr. Akin and the genteel River Road.
Mr. Akin is implying that Mr. Hart and the equally corrupt and
incompetent Carlos Campbell and Michael Machado, manipulated the
Directorship process to push through the criminal Hart Compensation
Scheme, to the detriment of PICO shareholders. And River Road is
not impressed."

Mr. Akin continues to voice displeasure: THE BOARD'S OPTIONS TO
HOLD THE CEO ACCOUNTABLE APPEAR VERY LIMITED. RRAM HOPES CEO JOHN
HART WILL RECOGNIZE THE NEED TO ALIGN HIS PERSONAL INTERESTS WITH
THE INTERESTS OF PICO AND ITS SHAREHOLDERS, AND WILL CONSIDER
AMENDING HIS EMPLOYMENT CONTRACT." And, "The new executive bonus
plan of the PICO management team was also disclosed in the 10-K and
RRAM found several elements concerning. SIMPLY PUT, THE NEW
EXECUTIVE BONUS PLAN IS DESTRUCTIVE TO SHAREHOLDER VALUE AND IT
MUST BE RE-WRITTEN."

The activist bloggers, giddy at finally having an ally, pile on:
"Wow. 'Destructive to shareholder value . . . ' For a value
investor like River Road -- resolutely focused on corporate
governance -- there is no deeper expression of dissatisfaction.

Mr. Akin notes that by promulgating the criminal Hart Compensation
Scheme, Messrs. Campbell, Machado and Eric Speron, have tied both
the hands of the Board and PICO shareholders -- which was exactly
their intent. As we have said all along, the criminal Hart
Compensation Scheme was no accident."

Mr. Akin proffers three suggestions:

THERE ARE ALSO OUTSTANDING ISSUES REGARDING CORPORATE OVERHEAD AND
CORPORATE
GOVERNANCE THAT MUST BE ADDRESSED PROMPTLY, AS WE BELIEVE TIME IS
OF THE
ESSENCE. The PICO Board should consider the following steps to
improve the value
of the company:

     1) The PICO Headquarters in La Jolla, California should be
shut;

     2) The number of seats on the Board should be reduced to 7 at
the 2016 Annual Meeting; and

     3) The charge of the Strategy Committee should be clarified.

Mr. Akin concludes by writing, "RRAM HOPES THE PICO BOARD HEARS OUR
CONCERNS AND ACTS WITH A STRONG SENSE OF URGENCY. We must remind
the Board that long-term PICO shareholders have suffered poor
returns long enough. PICO SHARES ARE CURRENTLY SELLING NEAR
HISTORICAL LOWS SINCE PICO BEGAN TRADING PUBLICLY IN 1991. EVERY
CURRENT SHAREHOLDER THAT HAS OWNED PICO FOR OVER 6 MONTHS IS AT A
LOSS. Given the low ownership of PICO stock by many of its Board
members, now would be an opportune time for new purchases to signal
confidence to the market." [Capitalization in original].

The activist bloggers gravitate to the relocation suggestion: "This
migration would give Mr. Hart, Max Webb (PICO CFO) and John Perri
(PICO CAO) justification to resign “For Good Reason,”
triggering roughly $8 million in cash payments to these Three
Profiteers.

However, $8 million sounds like a lot of money for three guys who
confidently wrote that if it weren’t for their dedication and
altruism to PICO, they’d be working at a hedge fund/private
equity firm. Maybe they meant “hedge clipper” and “private
nanny.” Such job descriptions are more appropriate for Messrs.
Hart, Webb and Perri – especially given their track record as
complete failures in corporate America – measured by any and all
relevant metrics."

The activist bloggers close their post with optimistic sentiments,
stating, "Mr. Akin and River Road have something up their sleeve,
as the 13-D filing in and of itself, is meaningless. But there are
headwinds. It is too late to nominate a director for the 2016
Annual Meeting (although there is a chance River Road did so by the
April 9 deadline). The criminal Hart Compensation Scheme can only
be altered with The Juicer’s consent. Central Square already sold
its votes to PICO. The Entrenched Directors, comprised of Messrs.
Hart, Campbell, Machado and Slepicka, have proven themselves to be
corporate sociopaths."


PILGRIM'S PRIDE: Wins Dismissal of Suit Filed by Growers
--------------------------------------------------------
Currently before the Court is the Motion for Summary Judgment filed
by Defendant Pilgrim's Pride Corporation (PPC) on April 15, 2011 to
consider the effect of the August 27, 2013 decision of the Court of
Appeals (the Agerton decision) reversing the Judgment rendered in
favor of some of the Plaintiffs ("the El Dorado growers") on
September 30, 2011.

Defendant Pilgrim's Pride Corporation is one of the largest
producers of processed chicken. PPC operates a network of chicken
processing facilities throughout the Southeast United States. These
processing facilities are supplied with chicken by poultry growers
who raise the chickens on their own farms and sell them to PPC
pursuant to Poultry Grower Agreements. The Plaintiffs are more than
200 poultry growers, most of whom were selling their chickens to
two PPC processing facilities that were closed or idled by PPC in
early 2009. Plaintiffs allege that the closure of these processing
facilities was in violation of the Packers and Stockyards Act of
1921, ("PSA").

Judge Roy S. Payne of the United States District Court for the
Eastern District of Texas, Marshall Division, granted the
Defendant's motion and dismissed all claims.

A full-text copy of the Memorandum Ruling dated April 22, 2016 is
available at http://is.gd/JNecuRfrom Leagle.com.

The case is SHEILA ADAMS, et al. v. PILGRIM'S PRIDE CORPORATION,
Case No. 2:09-CV-397-RSP.

Pilgrims Pride Corporation, is represented by Michael A Pollard,
Esq. -- MICHAEL.POLLARD@BAKERMCKENZIE.COM -- Baker & McKenzie, pro
hac vice & William V Roppolo, Esq. --
WILLIAM.ROPPOLO@BAKERMCKENZIE.COM -- Baker & McKenzie, pro hac
vice.

Christopher Nolland, Mediator, is represented by Christopher Marc
Nolland, eSQ. -- Law Office of Christopher Nolland.

Bruce Boykin, Plaintiff, represented by Mark C Brodeur, Esq. -- The
Brodeur Law Firm, Johnny E Dollar, Esq. -- Dollar Laird LLP,
Michael Aaron Benefield, Esq. -- Benefield Law, Robert Lamar
Depper, Jr., Esq. -- Depper Law Firm, Inc & William Ellsworth
Davis, III, Esq. -- The Davis Firm, PC.

Hixie Odenbaugh Potts, Plaintiff, represented by Mark C Brodeur,
The Brodeur Law Firm & Michael Aaron Benefield, Benefield Law.

Joe M. Lee, Jr., Plaintiff, represented by Mark C Brodeur, The
Brodeur Law Firm.

Trustee John S Hodge, Trustee, Plaintiff, represented by Johnny E
Dollar, Dollar Laird LLP.

Mark Sutton, Trustee, Plaintiff, represented by Johnny E Dollar,
Dollar Laird LLP.

Shelia Adams, Consol Plaintiff, represented by Mark C Brodeur, The
Brodeur Law Firm, Eric M. Albritton, Albritton Law Firm, Johnny E
Dollar, Dollar Laird LLP, Thomas John Ward, Jr., Ward, Smith &
Hill, PLLC & William Ellsworth Davis, III, The Davis Firm, PC.

James Adams, Consol Plaintiff, represented by Mark C Brodeur, The
Brodeur Law Firm, Eric M. Albritton, Albritton Law Firm, Johnny E
Dollar, Dollar Laird LLP, Thomas John Ward, Jr., Ward, Smith &
Hill, PLLC & William Ellsworth Davis, III, The Davis Firm, PC.

Gary McCann, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

Tina Lee, Consol Plaintiff, represented by William Ellsworth Davis,
III, The Davis Firm, PC.

Buster Shaw, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

Walter Baty, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

Shirley Butler, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

Jody White, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

Roger Beard, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

Steve Rector, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

Sharon Lampin, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

Michael Chandler, Consol Plaintiff, represented by William
Ellsworth Davis, III, The Davis Firm, PC.

Jim Morris, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

Stephen White, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

Patrick Parker, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

Martha Woodson, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

Kenny Barrett, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

Verna Young, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

Joe Chandler, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

Becky Barrett, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

Susan McGee, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

Michael Young, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

Herman Woodson, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

James Morris, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

Billy Ray Butler, Consol Plaintiff, represented by William
Ellsworth Davis, III, The Davis Firm, PC.

Patrick Gammill, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

Mary Ann Rector, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

Trellis McCann, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

Stephanie Gammill, Consol Plaintiff, represented by William
Ellsworth Davis, III, The Davis Firm, PC.

Shirley Morris, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

Bradley McGee, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

George Millord, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

Ivern Shaw, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

April Muckleroy, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

Myrna Jernigan, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

Staci Box, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

Gloria Davis, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

Alan Vaught, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

Angela Parker, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

Ray Raines, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

Barbara Scates, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

Cynthia Dee Davis, Consol Plaintiff, represented by William
Ellsworth Davis, III, The Davis Firm, PC.

Allie Rains, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

Jerry Scates, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

Tommy Chandler, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

Nelda Chandler, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

Christina Ballow, Consol Plaintiff, represented by William
Ellsworth Davis, III, The Davis Firm, PC.

Mary Shoemaker, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

Don Lovell, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

Carlton Ballow, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

John Newman, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

James Young, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

Bryan Box, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

Jory Muckleroy, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

Stacy Young, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

Royce Johnson, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

Rhonda White, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

John Shoemaker, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

Clarence Brown, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

Van Vaught, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

Gerald Lampin, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

Louise Johnson, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

Alex Avila, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

Nadine Beard, Consol Plaintiff, represented by William Ellsworth
Davis, III, The Davis Firm, PC.

All Plaintiffs, Consol Plaintiff, is represented by Eric M.
Albritton, Albritton Law Firm, Mark C Brodeur, The Brodeur Law
Firm, Thomas John Ward, Jr., Ward, Smith & Hill, PLLC & William
Ellsworth Davis, III, The Davis Firm, PC.

Pilgrims Pride Corporation, Defendant,is represented by Clayton
Edward Bailey, Esq. -- cbailey@baileybrauer.com -- Bailey Brauer
PLLC, Adam Thomas Dougherty, Esq. --
adam.dougherty@ogletreedeakins.com -- Ogletree, Deakins, Nash,
Smoak & Stewart, PC, Alexander Max Douglas Brauer, Esq. --
abrauer@baileybrauer.com -- Bailey Brauer PLLC, Benjamin Leon
Stewart, Esq. -- bstewart@baileybrauer.com -- Bailey Brauer PLLC,
David W Parham, Esq. -- david.parham@akerman.com -- Akerman LLP,
Jennifer Parker Ainsworth, Esq. -- whesse@wilsonlawfirm.com --
Wilson Robertson & Cornelius PC, Jennifer Dee McCollum, Esq. --
Baker & McKenzie LLP, Kimberly Fahrenbrook Rich, Esq. --
KIMBERLY.RICH@BAKERMCKENZIE.COM -- Baker & McKenzie, Mark C
Brodeur, Matthew T McCrary, Esq. --
MATTHEW.MCCRARY@BAKERMCKENZIE.COM -- Baker & McKenzie, Michael A
Pollard, Esq. -- MICHAEL.POLLARD@BAKERMCKENZIE.COM -- Baker &
McKenzie, pro hac vice, Paul Edward Green, Esq. --
pgreen@baileybrauer.com -- Bailey Brauer PLLC & William V Roppolo,
Esq. -- WILLIAM.ROPPOLO@BAKERMCKENZIE.COM -- Baker & McKenzie, pro
hac vice.

Harvey R. Ellis, Defendant, is represented by Mark C Brodeur, The
Brodeur Law Firm.

Pilgrim's Pride Corporation, Consol Defendant, is represented by
Clayton Edward Bailey, Bailey Brauer PLLC, Mark David Taylor, Baker
& McKenzie, Adam Thomas Dougherty, Ogletree, Deakins, Nash, Smoak &
Stewart, PC, Alexander Max Douglas Brauer, Bailey Brauer PLLC &
Jennifer Parker Ainsworth, Wilson Robertson & Cornelius PC.

Lonnie "Bo" Pilgrim, Consol Defendant, is represented by Mark
David Taylor, Baker & McKenzie, Adam Thomas Dougherty, Ogletree,
Deakins, Nash, Smoak & Stewart, PC, Alexander Max Douglas Brauer,
Bailey Brauer PLLC, Jennifer Parker Ainsworth, Wilson Robertson &
Cornelius PC & Scott Mark DeWolf, Dewolf McCaffity LLP.

Fred Borders, Movant, is represented by Clayton Harvey Haley,
Fairchild Price Haley & Smith LLP & Tara Johnson Cannon, Fairchild
Price Haley & Smith.

Larry Cohorn, Movant, represented by Clayton Harvey Haley,
Fairchild Price Haley & Smith LLP & Tara Johnson Cannon, Fairchild
Price Haley & Smith.

Howell Howard, Movant, represented by Clayton Harvey Haley,
Fairchild Price Haley & Smith LLP & Tara Johnson Cannon, Fairchild
Price Haley & Smith.

Pilgrim's Pride Corporation is one of the largest chicken
producers in the world with operations in the United States
("U.S."), Mexico and Puerto Rico.


PINNACLE RESORT: Seeks Court Approval to Hire McLaughlin & Stern
----------------------------------------------------------------
Pinnacle Resort, LLC seeks approval from the U.S. Bankruptcy Court
for the District of Connecticut to employ Steven Newburgh of
McLaughlin & Stern LLP as its attorney.

As legal counsel, Mr. Newburgh will:

     (a) advise the Debtor regarding its rights, duties and powers

         as a Debtor and as a debtor-in-possession operating and
         managing its business and property;

     (b) advise and assist the Debtor in respect of financial
         agreements, debt restructuring, cash collateral, if any,
         and other financial transactions;

     (c) review and advise the Debtor regarding the validity of
         claims and liens asserted against the property or
         interests of the Debtor;

     (d) advise the Debtor concerning actions to collect and
         recover property for the benefit of the Debtor’s
estate;

     (e) prepare on behalf of the Debtor the necessary
         applications, motions, complaints, answers, pleadings,
         orders, reports, notices, schedules, statements and other

         required or recommended documents as well as reviewing
         all financial reports and other reports filed in these
         Chapter 11 proceedings.

    (f) counsel the Debtor in connection with all aspects of a
        plan of reorganization and related documents and filings;
        and

     (g) perform all other legal services for the Debtor which may

         be necessary or advisable in these Chapter 11
         proceedings.

Mr. Newburgh will receive $475 per hour for his services and will
be reimbursed for work-related expenses.  Mr. Newburgh and his firm
had earlier received a retainer in the amount of $40,000 from the
Debtor, according to court filings.

Mr. Newburgh, a partner at McLaughlin & Stern LLP, disclosed in a
court filing that he does not represent interest adverse to the
Debtor or its estate and is disinterested as that term is defined
by Section 101 (14) of the Bankruptcy Code.

Mr. Newburgh can be reached through this address:

     Steven Newburgh, Esq.
     McLaughlin & Stern LLP
     CityPlace Office Tower
     525 Okeechobee Boulevard, Suite 1530
     West Palm Beach, FL 33401
     E-mail: snewburgh@mcLaughlinstern.com

                      About Pinnacle Resort

Pinnacle Resort, LLC sought protection under Chapter 11 of the
Bankruptcy Code in the District of Connecticut (Bridgeport) (Case
No. 16-50204) on February 11, 2016.  The petition was signed by
Frank Nocito, president.  The Debtor estimated assets of $1 million
to $10 million and debts of $100,000 to $500,000.


PODS LLC: S&P Alters 1st Lien Loan Rating to B Over $170MM Add-on
-----------------------------------------------------------------
S&P Global Ratings revised its issue-level rating on PODS LLC's
first-lien term loan due 2022 to 'B' from 'B+' following the
company's announcement of a $170 million add-on.  S&P also revised
its recovery rating on the loan to '3' from '2'.  The '3' recovery
rating indicates S&P's expectation of meaningful (50%-70%; lower
half of the range) recovery in the event of a default.

At the same time, S&P affirmed its 'CCC+' issue-level rating on the
company's second-lien term loan due 2023.  The '6' recovery rating
remains unchanged, indicating S&P's expectation of negligible
(0%-10%) recovery in the event of a default.

All of S&P's other ratings on PODS LLC remain unchanged.

The company will use the proceeds from this add-on to repay its
second-lien term loan due 2023, repay borrowings from its revolver,
and add cash to its balance sheet.  S&P will withdraw its ratings
on the second-lien term loan when the transaction is completed.

S&P assess PODS' business risk profile as weak, reflecting its
position as a leading provider of portable storage units, its
fairly good and improving operating efficiency, its limited
end-market diversity, and the narrow scope of its operations.  S&P
assess PODS' financial risk profile as aggressive based on the
company's debt leverage, steady cash flow, and aggressive financial
policy.

The positive outlook on PODS reflects S&P's expectation that the
company's revenues and earnings will continue to benefit from its
operating-efficiency initiatives, franchisee acquisitions, and
organic growth--aided by the improving U.S. housing market and
continued low fuel prices--strengthening the company's credit
metrics and financial risk profile.

S&P could raise its ratings on PODS over the next year if the
company continues to strengthen its revenue and earnings by
focusing on expanding its market territories through franchisee
acquisitions, improved operating efficiency, and pricing such that
its S&P Global adjusted funds from operations (FFO)-to-total debt
ratio increases to, and remains above, 15% for a sustained period.


S&P could revise its outlook on PODS to stable if the expected
improvement in the company's S&P Global adjusted FFO-to-debt ratio
fails to materialize and S&P believes that this metric will remain
in the low-double digit percent area for a sustained period.

RECOVERY ANALYSIS

Key analytical factors

   -- S&P is lowering its recovery rating on the company's upsized

      first-lien facility to '3' from '2'.

   -- S&P's '6' recovery rating on the company's $150 million
      second-lien term loan is unchanged.

   -- S&P has valued the company on a going-concern basis using a
      5.0x multiple of S&P's projected emergence EBITDA of
      $74 million.  S&P estimates that, for the company to
      default, its EBITDA would need to decline significantly,
      representing a material deterioration from the current state

      of its business.

Simulated default assumptions

   -- Simulated year of default: 2019
   -- EBITDA at emergence: $74 million
   -- EBITDA multiple: 5.0x

Simplified waterfall

   -- Net enterprise value: $352 million
   -- Valuation split (obligors/nonobligors): 100%/0%
   -- Priority claims: $2 million
   -- Value available to first-lien debt
      (collateral/noncollateral): $349 million
   -- Secured first-lien debt claims: $665 million
      -- Recovery expectations: 50%-70% (lower half of the range)

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

RATINGS LIST

PODS LLC
Corporate Credit Rating                B/Positive/--

Downgraded; Recovery Rating Revised
                                        To              From
PODS LLC
First-Lien Trm Ln Due 2022             B               B+
  Recovery Rating                       3L              2L

Ratings Affirmed

PODS LLC
Second-Lien Trm Ln Due 2023            CCC+
  Recovery Rating                       6


POTLATCH CORP: S&P Revises Outlook to Positive & Affirms 'BB' CCR
-----------------------------------------------------------------
S&P Global Ratings said it revised the rating outlook on Potlatch
Corp. to positive from stable and affirmed its ratings, including
the 'BB' corporate credit rating, on the company.

S&P's ratings affirmation and outlook revision to positive reflect
its view that it could raise ratings in the next year if lumber
prices continue their recent improvement such that Potlatch would
be able to sustain cash flow and leverage metrics in the
significant or better category going into 2017.  While the recently
announced sale of timberlands will reduce the company's debt to
EBITDA to less than 3x in 2016 (from the recent year-end level of
6x), under S&P's base case scenario, debt to EBITDA will revert to
4x or higher in 2017 absent further improvement in lumber prices or
additional land sales.

"The outlook is positive, reflecting our view that further
sustained improvement in lumber prices over the next 12 months
would result in Potlatch maintaining leverage measures into 2017
consistent with a significant financial risk profile, including
debt to EBITDA of 4x or below," said S&P Global Ratings credit
analyst Thomas Nadramia.

S&P could upgrade Potlatch over the next 12 months if recent
positive lumber price trends accelerate and are sustained in 2016
and into 2017, driven by higher housing starts and a stable
Canadian dollar, which would allow Potlatch to improve resource and
wood products EBITDA and sustain leverage measures consistent with
a significant financial risk profile, included debt to EBITDA of 4x
or below.

If lumber pricing remains weak or worsens from current levels, such
that total company EBITDA was at or below $130 million for 2017,
S&P would likely return the outlook to stable because this would
likely result in leverage measures returning to the aggressive
category.  Given the strong levels of asset protection afforded by
the company's substantial timberlands holdings valued in excess of
$2 billion, S&P views a downgrade to 'BB-' as unlikely.

However, a downgrade could occur if there was further deterioration
in the company's EBITDA and cash flows such that interest coverage
fell below 3x and FFO to debt was sustained below 12%.


PRINTPACK HOLDINGS: S&P Raises Rating to 'B+', Outlook Stable
-------------------------------------------------------------
S&P Global Ratings said that it has upgraded Printpack Holdings
Inc. to 'B+' from 'B'.  The outlook is stable.

At the same time, S&P raised its issue-level rating on the
company's first-lien term loan to 'BB' from 'BB-'.

Additionally, S&P raised its issue-level rating on Printpack's
second-lien term loan to 'B+' from 'B'.

"In 2014, Atlanta-based Printpack Holdings Inc. initiated a
$230 million three-year capital improvement plan (i.e.
restructuring plan) to consolidate its manufacturing facilities and
improve its operating efficiency," said S&P Global credit analyst
Christopher Corey.  "The upgrade reflects the company's successful
execution of this capital improvement plan, which has improved its
credit metrics and recently increased its free cash flow."  S&P
expects that the company will generate positive free cash flow in
fiscal year 2015 (ending June 30, 2016), supported by the cost
savings generated from its capital improvement plan.

The stable outlook on Printpack reflects S&P's expectation that the
company will maintain its improved earnings and positive cash from
operations over the next 12 months and beyond.  Additionally, S&P
expects that the company will maintain both adequate liquidity and
a financial policy that is consistent with the current ratings.
S&P expects the company to maintain a S&P Global adjusted
debt-to-EBITDA metric of 3.7x-4.0x and a FFO-to-total adjusted debt
ratio of between 18% and 22%, which are levels that we consider
appropriate for the rating.

S&P could lower its ratings on Printpack if the company's earnings
and cash flows are lower than S&P expects either because the
company's key customers fail to renew their contracts, or if
Printpack pursues an aggressive acquisition strategy such that its
S&P Global adjusted debt-to-EBITDA ratio deteriorates above 4x
and/or its FFO-to-total adjusted debt ratio falls below 20% without
any prospect for recovery.

S&P could raise its ratings on Printpack if the company sustains
its meaningful positive free cash and uses it to reduce its debt
such that its debt leverage improves to the intermediate range (an
adjusted debt-to-EBITDA metric remaining below 3x on a sustainable
basis).  S&P could also raise its ratings if the company
significantly diversified its operations such that it improved its
overall profitability to be more in line with that of its
similarly-rated peers.


R&S HEATING: Fund Loses Summary Judgment Bid
--------------------------------------------
This lawsuit is based on the alleged failure of Defendant R&S
Heating and Air Conditioning, Inc., to make contributions to
various employee benefit plans as required under two collective
bargaining agreements. Plaintiff Sheet Metal Local #10 Control
Board Trust Fund is a clearinghouse that accepts and distributes
contributions from employers, like R&S, to employee benefit plans.
Plaintiffs James Bigham, John Quarnstrom, Robert Vranicar, Jim
Bowman, Mike McCauley, and Matt Fairbanks are trustees of the
Control Board.

Presently, the Court considers Plaintiffs' motion for summary
judgment. According to Plaintiffs, R&S performed some work covered
by the collective bargaining agreements during the relevant time
frame but failed to maintain adequate records of the work
performed. As such, Plaintiffs argue, R&S must produce evidence to
rebut Plaintiffs' calculation of contributions due to the Control
Board—which Plaintiffs claim R&S cannot do.

R&S is a Minnesota corporation engaged in the business of
installing, fabricating, and servicing heating and air conditioning
("HVAC") systems and plumbing equipment. Beginning in 2011, R&S was
subject to two collective bargaining agreements relevant to this
litigation: (1) the Residential HVAC Labor Agreement Between the
Residential Subdivision of the Metro Area Division SMARCA, Inc. and
Residential HVAC Employees Local No. 10 Metro Area Effective May
20, 2011 — April 30, 2013; and (2) the Sheet Metal Labor
Agreement for Commercial and Specialty Between the Commercial
Subdivision of the Twin Cities Division SMARCA, Inc. and Sheet
Metal Workers Local No. 10 Metro Area Effective June 24, 2011 to
April 30, 2014. Both CBAs incorporate by reference the Sheet Metal
Local #10 Control Board Trust Fund Restated Declaration of Trust.

Judge Donovan W. Frank of the United States District Court for the
District of Minnesota denied the Plaintiffs' Motion for Summary
Judgment as genuine issues of material fact preclude summary
judgment against R&S. R&S has produced evidence sufficient to
challenge Plaintiffs' calculation and, therefore, has raised a
genuine issue of material fact that precludes summary judgment.

A full-text copy of the Memorandum Opinion and Order dated April
22, 2016 is available at https://is.gd/T3H92J from Leagle.com.

The case is James Bigham, John Quarnstrom, Robert Vranicar, Jim
Bowman, Mike McCauley, and Matt Fairbanks, as Trustees of the Sheet
Metal Local #10 Control Board Trust Fund, and the Sheet Metal Local
#10 Control Board Trust Fund, Plaintiffs, v. R&S Heating and Air
Conditioning, Inc., Defendant, Civil No. 14-1357 (DWF/FLN)(D.
Minn.).

James Bigham, Plaintiff, is represented by Amy L Court, Esq. --
alc@mcgrannshea.com -- McGrann Shea Carnival Straughn & Lamb, Chtd,
Carl S Wosmek, Esq. -- csw@mcgrannshea.com -- McGrann Shea Carnival
Straughn & Lamb, Chtd & Christy E Lawrie, Esq. --
cel@mcgrannshea.com -- McGrann Shea Carnival Straughn & Lamb,
Chtd.

John Quarnstrom, Plaintiff, is represented by Amy L Court, McGrann
Shea Carnival Straughn & Lamb, Chtd, Carl S Wosmek, McGrann Shea
Carnival Straughn & Lamb, Chtd & Christy E Lawrie, McGrann Shea
Carnival Straughn & Lamb, Chtd.

Robert Vranicar, Plaintiff, is represented by Amy L Court, McGrann
Shea Carnival Straughn & Lamb, Chtd, Carl S Wosmek, McGrann Shea
Carnival Straughn & Lamb, Chtd & Christy E Lawrie, McGrann Shea
Carnival Straughn & Lamb, Chtd.

Jim Bowman, Plaintiff, is represented by Amy L Court, McGrann Shea
Carnival Straughn & Lamb, Chtd, Carl S Wosmek, McGrann Shea
Carnival Straughn & Lamb, Chtd & Christy E Lawrie, McGrann Shea
Carnival Straughn & Lamb, Chtd.

Mike McCauley, Plaintiff, is represented by Amy L Court, McGrann
Shea Carnival Straughn & Lamb, Chtd, Carl S Wosmek, McGrann Shea
Carnival Straughn & Lamb, Chtd & Christy E Lawrie, McGrann Shea
Carnival Straughn & Lamb, Chtd.

Matt Fairbanks, Plaintiff, is represented by Amy L Court, McGrann
Shea Carnival Straughn & Lamb, Chtd, Carl S Wosmek, McGrann Shea
Carnival Straughn & Lamb, Chtd & Christy E Lawrie, McGrann Shea
Carnival Straughn & Lamb, Chtd.

The Sheet Metal Local #10 Control Board Trust Fund, Plaintiff, is
represented by Amy L Court, McGrann Shea Carnival Straughn & Lamb,
Chtd, Carl S Wosmek, McGrann Shea Carnival Straughn & Lamb, Chtd &
Christy E Lawrie, McGrann Shea Carnival Straughn & Lamb, Chtd.

R&S Heating and Air Conditioning, Inc., Defendant, is represented
by Martin D Kappenman, Esq. -- mkappenman@seatonlaw.com -- Seaton,
Peters & Revnew, P.A. & Thomas R Revnew, Esq.--
trevnew@seatonlaw.com -- Seaton, Peters & Revnew, PA.


RAILYARD COMPANY: Judge Denies Appointment of Pierce as Trustee
---------------------------------------------------------------
A U.S. bankruptcy judge denied the appointment of Chris Pierce of
Hunt & Davis PC as Chapter 11 trustee of Railyard Company LLC.

Judge Robert Jacobvitz of the U.S. Bankruptcy Court in New Mexico
denied the appointment of Mr. Pierce who was selected by the U.S.
trustee overseeing Railyard's bankruptcy case to replace the
company's management.

The bankruptcy judge ordered the U.S. trustee to appoint another
person to serve as outside trustee, court filings show.

Railyard had earlier opposed the appointment of Mr. Pierce due to a
conflict of interest.  

According to Railyard, Mr. Pierce has represented RBA Architecture
Planning Design, a creditor of the company. RBA Architecture will
be a main witness in a possible lawsuit, the company said.

The appointment had also drawn opposition from Steve Duran and two
other principal members of Railyard, who echoed the argument raised
by the company.

Mr. Duran had previously filed a motion to put the appointment of a
Chapter 11 trustee on hold until a higher court heard his appeal of
the bankruptcy judge's March 30 order that directed such
appointment.  Judge Jacobvitz denied the motion last month.

The March 30 order is also being appealed by Railyard to a higher
court, according to court filings.

                       About Railyard Company

Railyard Company, LLC, owns and developed two-story Market Station
that houses the REI sporting goods store and other tenants.  It
filed a Chapter 11 petition (Bankr. D. N.M. Case No. 15-12386) on
Sept. 4, 2015.  The petition was signed by Richard Jaramillo as
managing member.  The Debtor is represented by William F. Davis,
Esq., at William F. Davis & Associates, P.C., as counsel.

The Debtor's Chapter 11 petition says the Company has about $11.2
million in debts and $13.8 million in assets.



RIO MOBILE: Taps Marcos D. Oliva as Bankruptcy Counsel
------------------------------------------------------
Rio Mobile Home and R.V. Parks, Inc., asks the U.S. Bankruptcy
Court for the Southern District of Texas for authorization to
employ the Law Firm of Marcos D. Oliva, P.C., as bankruptcy
counsel.

The Firm will:

      (a) provide legal advice with respect to Debtor's rights and

          duties as debtor in possession and continued business
          operations;

      (b) assist, advise and represent the Debtor in analyzing the

          Debtor's capital structure, investigating the extent and

          validity of liens, cash collateral stipulations or
          contested matters;

      (c) assist, advise and represent the Debtor in postpetition
          financing transactions;

      (d) assist, advise and represent the Debtor in the sale of
          certain assets;

      (e) assist, advise and represent the Debtor in the
          formulation of a disclosure statement and plan of
          reorganization and to assist the Debtor in obtaining
          confirmation and consummation of a plan of
          reorganization;

      (f) assist, advise and represent the Debtor in any manner
          relevant to preserving and protecting the Debtor's
          estate;

      (g) investigate and prosecute preference, fraudulent
          transfer and other actions arising under Debtor's
          bankruptcy avoiding powers;

      (h) prepare on behalf the Debtor all necessary applications,

          motions, answers, orders, reports, and other legal
          papers;

      (i) appear in Court and to protect the interests of the
          Debtor before the Court;

      (j) assist the Debtor in administrative matters;

      (k) perform all other legal services for the Debtor which
          may be necessary and proper in these proceedings;

      (l) assist, advise and represent the Debtor in any
          litigation matters, including, but not limited to,
          adversary proceedings;

      (m) continue to assist and advise the Debtor in general
          corporate and other matters related to the successful
          reorganization of the Debtor;

      (n) provide other legal advice and services, as requested by

          the Debtor, from time to time.

Under the terms of employment, the Firm has agreed to represent the
Debtor, subject to the approval of the Court, based on time and
standard billing charges of $250 per hour for attorney time, and
$100 per hour for the bankruptcy legal assistants.

Marcos D. Oliva, Esq., a principal and sole shareholder of the
Firm, assures the Court that, in accordance with the requirements
of 11 U.S.C. Section 327(a) and Rule 2014(a), the Firm doesn't have
any business or professional connections with the Debtor or its
creditors, or any party in interest, or with their respective
attorneys and accountants, the U.S. Trustee, or any person employed
in the office of the U.S. Trustee.

Headquartered in Brownsville, Texas, Rio Mobile Home and R.V.
Parks, Inc., filed for Chapter 11 bankruptcy protection (Bankr.
S.D. Tex. Case No. 16-10150) on May 10, 2016, listing $16,117 in
total assets and $1.82 million in total liabilities.  The petition
was signed by Dean Gutierrez, Sr., president.  Judge Eduardo V
Rodriguez presides over the case.

Marcos Demetrio Oliva, Esq., at Marcos D. Oliva, PC, serves as the
Debtor's bankruptcy counsel.


ROCKWELL MEDICAL: Reports $4.82 Million Net Loss for First Quarter
------------------------------------------------------------------
Rockwell Medical, Inc. filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $4.82 million on $13.6 million of sales for the three months
ended March 31, 2016, compared to a net loss of $3.69 million on
$13.9 million of sales for the same period in 2015.

As of March 31, 2016, Rockwell had $89.09 million in total assets,
$8 million million in total liabilities, all current, $20.88
million in deferred license revenue and $60.2 million in total
shareholders' equity.

As of March 31, 2016, the Company had current assets of $85.8
million and net working capital of $77.8 million.  The Company has
approximately $69.4 million in cash and investments as of March 31,
2016.  The Company's uses of cash have primarily been for research
and product development, investments in inventory to support our
product launches and for operating expenses.  Cash flow from
operations used $1.1 million in the first quarter of 2016, which
included research and development expenses of $1.3 million and an
increase of $1.3 million in inventory levels.  The Company also
received $3.3 million net of taxes pursuant to the Wanbang
Agreement.  The Company's capital expenditures were $0.2 million
and were roughly equivalent to its depreciation and amortization
costs.

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

                     https://is.gd/BlvNv4

                       About Rockwell

Rockwell Medical, Inc. (Nasdaq: RMTI), headquartered in Wixom,
Michigan, is a fully-integrated biopharmaceutical company
targeting end-stage renal disease ("ESRD") and chronic kidney
disease ("CKD") with innovative products and services for the
treatment of iron deficiency, secondary hyperparathyroidism and
hemodialysis (also referred to as "HD" or "dialysis").

Rockwell's lead investigational drug is in late stage clinical
development for iron therapy treatment in CKD-HD patients.  It is
called Soluble Ferric Pyrophosphate ("SFP").  SFP delivers iron to
the bone marrow in a non-invasive, physiologic manner to
hemodialysis patients via dialysate during their regular dialysis
treatment.

Rockwell Medical reported a net loss of $14.4 million on $55.35
million of sales for the year ended Dec. 31, 2015, compared to a
net loss of $21.3 million on $54.2 million of sales for the year
ended Dec. 31, 2014.  The Company also reported a net loss of $48.8
million for the year ended Dec. 31, 2013.


ROSEMAN UNIVERSITY: S&P Puts 'BB-' Bonds Rating on Watch Neg.
-------------------------------------------------------------
S&P Global Ratings said that it placed its 'BB-' long-term rating
on Public Finance Authority, Wisc.'s series 2012 and 2015 revenue
bonds, issued for Roseman University, on CreditWatch with negative
implications.

"This action follows our repeated attempts to obtain timely
information of satisfactory quality to maintain our rating on the
securities in accordance with our applicable criteria and
policies," said S&P Global Ratings analyst Luke Gildner.  Failure
to receive the requested information by June 1, 2016, will likely
result in our withdrawal of the affected rating, preceded, in
accordance with our policies, by any change to the rating that S&P
considers appropriate given available information.


RSP PROFESSIONAL: Case Summary & Unsecured Creditor
---------------------------------------------------
Debtor: RSP Professional Group, L.L.C.
        c/o Schlossberg & Mastro
        18421 Henson Boulevard, Suite 201
        Hagerstown, MD 21742

Case No.: 16-16577

Chapter 11 Petition Date: May 13, 2016

Court: United States Bankruptcy Court
       District of Maryland (Greenbelt)

Judge: Hon. Thomas J. Catliota

Debtor's Counsel: Richard Marc Goldberg, Esq.
                  SHAPIRO SHER GUINOT & SANDLER, P.A.
                  250 W. Pratt Street, Suite 2000
                  Baltimore, MD 21201
                  Tel: (410) 385-4274
                  Fax: (410) 385-1216
                  E-mail: rmg@shapirosher.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Roger Schlossberg, Ch 7 Trustee for
Saneva Riddick Zayas, and sole member of the Debtor.

The Debtor listed Allen Corporation of America as its largest
unsecured creditor holding a claim of $3.13 million.

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

             http://bankrupt.com/misc/mdb16-16577.pdf


RYERSON HOLDING: S&P Revises Outlook to Pos. & Affirms 'B-' CCR
---------------------------------------------------------------
S&P Global Ratings said it revised the rating outlook on
Chicago-based steel and aluminum distribution company Ryerson
Holding Corp. and its subsidiary Ryerson Inc. to positive from
stable and affirmed its 'B-' corporate credit rating on the
companies.

At the same time, S&P assigned its 'B-' issue-level rating and '4'
recovery rating to the company's proposed $650 million senior
secured notes, with proceeds expected to be used for debt
reduction.  The '4' recovery rating indicates average (30%-50%;
upper end of range) recovery in the event of a default.  S&P also
affirmed the 'CCC' issue-level rating on the company's senior
unsecured notes.  The recovery rating on the notes remains '6',
indicating S&P's expectation of negligible (0%-10%) recovery in the
event of a default.

"The positive outlook reflects our expectation that demand from
Ryerson's various end markets will gradually improve in the next 12
months based on healthier general macroeconomic growth," said
Standard & Poor's credit analyst William Ferara.  "We expect
Ryerson's key credit metrics could further improve in 2016, with
debt to EBITDA of about 6.5x.  We still, however, expect Ryerson to
continue facing competitive pressures domestically and from foreign
imports."

S&P could raise its rating in the next 12 months if it revised its
comparable ratings modifier to neutral from negative.  This could
occur if the company's volumes and margins showed less volatility
and there was ongoing stability in the company's product demand and
overall metals sector.  In order to achieve a higher rating, S&P
would expect debt leverage to be sustained at significantly less
than 8x, which could be achieved through EBITDA growth or debt
reduction, with a commitment from management and the financial
sponsor to maintain a more conservative financial risk profile.
S&P would also expect the company to maintain an adequate liquidity
position.

S&P could revise its outlook to stable in the next 12 months if the
company's debt leverage increased to above 8x and EBITDA interest
coverage deteriorated to about 1.5x.  This could occur due to a
reversal of slightly improving market conditions to those deemed
weak, such as in 2015, or if operating performance deteriorated
significantly because of a macroeconomic downturn and heightened
competition drove a steep drop in metals prices.


SABRE HOLDINGS: S&P Raises CCR to 'BB-', Outlook Stable
-------------------------------------------------------
S&P Global Ratings raised its corporate credit rating on Southlake,
Texas-based travel technology companies Sabre Holdings Corp. and
Sabre Inc. to 'BB-' from 'B+'.  The rating outlook is stable.

At the same time, S&P raised its issue-level rating on Sabre's
secured notes and credit facilities to 'BB-' from 'B+'.  The
recovery rating remains '3', indicating S&P's expectation for
meaningful recovery (50%-70%; upper half of the range) of principal
in the event of a payment default.

"The upgrade reflects better-than-expected EBITDA and cash flow
performance," said S&P Global Ratings analyst Elton Cerda.  "It
also reflects our expectation that the lower financial sponsor
ownership will allow the company to continue to reduce
debt-to-EBITDA and maintain leverage between 3x and 4x."

S&P Global Ratings' ratings on Sabre are based on the company's
position as one of the largest GDSs and its fast-growing software
business.  S&P's ratings also reflect Sabre's market-leading
position in travel distribution in the U.S. and the growing demand
for travel-related services.

A GDS is an intermediary between travel suppliers (airlines,
hotels, rental car companies, cruises, etc.), travel agencies
(brick-and-mortar and online), and corporations.  As such, it
gathers inventory information (seats, rooms, etc.) from those
suppliers, and generates revenues from booking fees paid by travel
suppliers and from fees charged for hardware and software used by
travel agencies.  Although there are three major players in the
global GDS business, the segment is highly competitive and some of
Sabre's customers (i.e., commercial airlines) continue to exert
pressure on fees and push for alternative distribution platforms.
Sabre's software business is the fastest growing segment within the
company as airlines and hotels seek to reduce costs and increase
productivity.  However, the software segment is meaningfully
smaller than the GDS segment, with a slightly lower but expanding
EBITDA margin.

"Our ratings also reflect our expectations for debt leverage to
remain in the 3x to 4x area over the next few years.  We believe
the company's financial policy will remain aggressive because we
believe the company could issue debt to pursue opportunistic
acquisitions, fund share buybacks, and to fund potential future
legal settlements.  As of February 2016, private equity firms
Silver Lake Partners and TPG Capital had a combined controlling
interest in Sabre of about 25%, down from almost 40% at the end of
2015.  We expect that the private equity firms will continue to
reduce their ownership in the company.  As of March 31, 2016, the
company's debt leverage was 3.9x, slightly less than a year ago. We
expect debt leverage will decline to the mid-3x area by the end of
2016 (absent any potential litigation settlement with US Airways,
which could increase leverage).  Although we believe any adverse
settlement with US Airways will be significantly less than the
recent American Airlines settlement, it could still have a
noticeable impact on Sabre's cash flow generation," S&P said.

The stable rating outlook reflects S&P's expectation that Sabre's
operating performance will remain stable, with revenues and EBITDA
growth in the mid-single-digit area.  Additionally it reflects
S&P's view that debt leverage will stay in the mid- to high-3x
area.


SAITO BROS: Trustee's TRO Bid Against Foreclosure Sale Denied
-------------------------------------------------------------
Judge Terry L. Myers of the United States Bankruptcy Court for the
District of Idaho denied the motion filed by Janine Reynard, the
interim trustee in the chapter 7 liquidation of Saito Bros, Inc.,
for a temporary restraining order and preliminary injunction.
Reynard sought to enjoin a foreclosure sale by secured creditor
Mark B. Perry of real property located in Washington County, Idaho,
pending a proposed sale by the trustee.

The bankruptcy case is IN RE SAITO BROS, INC., Chapter 7, Debtor,
Case No. 16-00064-TLM (Bankr. D. Idaho).

The adversary proceeding is JANINE P. REYNARD, Trustee, Plaintiff,
v. MARK B. PERRY, Defendant,  Adv. No. 16-06004-TLM (Bankr. D.
Idaho).

A full-text copy of Judge Myers' March 31, 2016 memorandum of
decision is available at http://is.gd/jzgDHDfrom Leagle.com.

Janine P. Reynard is represented by:

          Matthew Todd Christensen, Esq.
          ANGSTMAN JOHNSON, PLLC
          3649 N. Lakeharbor Lane
          Boise, ID 83793
          Tel: (208)384-8588
          Fax: (208)853-0117
          Email: info@angstman.com


SANDRIDGE ENERGY: Files Voluntary Chapter 11 Bankruptcy Petition
----------------------------------------------------------------
SandRidge Energy, Inc., on May 16, 2016 disclosed that it has
voluntarily filed petitions under Chapter 11 of the U.S. Bankruptcy
Code in the United States Bankruptcy Court for the Southern
District of Texas (the "Chapter 11") to consummate a "pre-arranged"
reorganization through a restructuring support agreement (the
"Restructuring Support Agreement" or the "Agreement") entered into
with holders of approximately (i) 98% in principal amount
outstanding under the Company's reserve-based lending facility
("RBL"), (ii) 79% in principal amount of the Company's second lien
notes, and (iii) 55% in principal amount of the Company's senior
unsecured notes.

The Restructuring Support Agreement contemplates an RBL facility
and the equitization of approximately $3.7 billion of other funded
indebtedness.  Under the Agreement, the Company's pro forma capital
structure will consist of (i) $425 million in first lien RBL debt
(maturing in 2020), and (ii) $300 million in mandatorily
convertible debt that will accrue interest on a non-cash basis and
convert into equity in the reorganized Company at the earlier of
certain conversion events or four years from the effective date of
the Chapter 11 plan of reorganization (the "Plan").

The Company projects having ample liquidity to fund its ongoing
operations and its capital programs throughout the Chapter 11 and
upon emergence thereafter, without the need for
debtor-in-possession financing or other additional capital.

As part of the Chapter 11, SandRidge has filed "first day" motions
that, when granted, will enable the Company's day-to-day operations
to continue as usual.  Specifically, the Company requested
authority to pay operating expenses associated with production
activities, joint interest billings for non-operated properties,
royalty and working interest owners, and lienholders, as well as
employee wages and benefits without change or interruption.
Additionally, the Company will pay all suppliers and vendors in
full under normal terms for goods and services provided during the
Chapter 11 cases.

"We are pleased that our creditors recognize the long-term value
SandRidge and its employees can create with an improved balance
sheet.  The new capital structure will allow the Company to
concentrate on oil and gas exploration and development in our
active Oklahoma and Colorado project areas," said James Bennett,
SandRidge President and CEO.  "We look forward to completing this
next phase of the process quickly with minimal disruption to our
business."

Jeff Serota, SandRidge Chairman of the Board and Chairman of the
Restructuring Committee of the Board, remarked, "Constructive
dialogue with each major funded debt constituency and an efficient
negotiating process have led to [Mon]day's announcement.  We
appreciate the efforts of our creditors and their advisors and
commend the diligent efforts of management and our employees, as
well as our advisors and Restructuring Committee in getting to this
point."

Kirkland & Ellis LLP is serving as legal counsel to SandRidge and
Houlihan Lokey, Inc. is serving as financial advisor.

                    About SandRidge Energy

SandRidge Energy, Inc. (OTC PINK: SDOC) --
http://www.sandridgeenergy.com/-- is an oil and natural gas
exploration and production company headquartered in Oklahoma City,
Oklahoma, with its principal focus on developing high-return,
growth-oriented projects in the U.S. Mid-Continent and Niobrara
Shale.

SandRidge Energy reported a net loss of $4.32 billion in 2015
following net income of $351.89 million in 2014.

As of Dec. 31, 2015, SandRidge had $2.99 billion in total assets,
$4.17 billion in total liabilities and a total stockholders'
deficit of $1.18 billion.

                      *     *     *

The Troubled Company Reporter, on March 22, 2016, reported that
Standard & Poor's Ratings Services raised its corporate credit
rating on oil and gas exploration and production company SandRidge
Energy Inc. to 'CCC-' from 'D'.  The outlook is negative.


SEA SHELL: Judge Orders Dismissal of Chapter 11 Case
----------------------------------------------------
A U.S. bankruptcy judge has ordered the dismissal of Sea Shell
Collections LLC's Chapter 11 case.

The order, issued on May 10 by Judge Jerry Oldshue of the U.S.
Bankruptcy Court for the Northern District of Florida, granted the
motion of Stabilis Master Fund III LLC to dismiss the case.

The court order also barred Sea Shell Collections from filing a new
case until November 6.

Stabilis had asked for the dismissal of the case, arguing it wasn't
filed in good faith and that it was an attempt by the company to
put the foreclosure sale of the hedge fund's collateral on hold.
The hedge fund also questioned Sea Shell Collections' ability to
have its Chapter 11 plan approved.   

Sea Shell Collections LLC defended the filing of its bankruptcy
case, saying it was forced to do so because of the hedge fund's
"continued predatory and bad faith actions."

"The continued predatory and bad faith actions of Stabilis have
left debtor with no choice but to seek protection from the
bankruptcy court as it seeks to reorganize its debts," Sea Shell
Collections said in court papers.

Sea Shell Collections recounted how the company was once induced by
the hedge fund to dismiss its prior bankruptcy case.  

The company said it voluntarily dismissed the 2014 bankruptcy
proceeding as a result of a "bad faith" settlement agreement it
entered into with Stabilis involving the sale of the Sea Shell
Shopping Center.  

                    About Sea Shell Collections

Sea Shell Collections LLC, owner and operator of a shopping center,
filed a Chapter 11 bankruptcy petition (Bankr. N.D. Fla. Case No.
16-30304) on March 31, 2016.  The petition was signed by James C.
Moulton as president - Mouton Propertis, Inc., manager.

The Debtor listed total assets of $21.28 million and total
liabilities of $37.03 million.

Richard M Colbert PLLC represents the Debtor as counsel.


SEACOR HOLDINGS: S&P Lowers CCR to 'B', Outlook Negative
--------------------------------------------------------
S&P Global Ratings lowered its corporate credit and unsecured debt
ratings on Ft. Lauderdale, Fla.-based offshore marine services,
shipping and logistics company SEACOR Holdings Inc. to 'B' from
'B+'.  The negative outlook reflects S&P's view that leverage could
exceed levels it views as appropriate for the current rating, or
liquidity could weaken.

At the same time, S&P lowered its issue-level rating on the
company's senior unsecured debt to 'B' from 'B+'.  The recovery
rating on this debt remains '3', indicating S&P's expectation of
meaningful (50% to 70%, lower half the range) recovery to creditors
in the event of a payment default.

"The downgrade reflects a downward revision of our assumptions for
dayrates and utilization of SEACOR's offshore supply vessel fleet
in light of continued low oil and natural gas prices, as well as
moderately lower margins in the company's other businesses,
resulting in weaker credit measures than previously anticipated
over the next two years," said S&P Global Ratings analyst Carin
Dehne-Kiley.  The negative outlook on SEACOR reflects the potential
for a downgrade should leverage exceed levels S&P views as
appropriate for the rating, or if liquidity deteriorates.  S&P
currently expects FFO to debt to average roughly 5% over the next
two years.

S&P could lower the rating if it expected FFO to debt to approach
unsustainable levels or if S&P expected liquidity to deteriorate.
This would most likely occur if dayrates and utilization in the
offshore marine segment fell below S&P's projections, or if the
company executed material debt-funded acquisitions that did not add
to near-term cash flow.

S&P could revise the outlook to stable if it expected FFO to debt
to approach 12% on a sustained basis, which would most likely occur
in conjunction with a recovery in offshore drilling activity.


SEPULVEDA SAMSON: Case Summary & 2 Unsecured Creditors
------------------------------------------------------
Debtor: Sepulveda Samson Investments LLC
        721 S Harbor Blvd
        Fullerton, CA 92832

Case No.: 16-12038

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: May 13, 2016

Court: United States Bankruptcy Court
       Central District of California (Santa Ana)

Judge: Hon. Catherine E. Bauer

Debtor's Counsel: Yoon O Ham, Esq.
                  LEWIS & HAM, LLP
                  1425 W Foothill Blvd., Suite 235
                  Upland, CA 91786
                  Tel: 909-256-2920
                  Fax: 909-256-2927
                  E-mail: hamy@lewishamlaw.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Gary Kanter, manager.

A list of the Debtor's two largest unsecured creditors is available
for free at http://bankrupt.com/misc/cacb16-12038.pdf


SFX ENTERTAINMENT: Hires Jones Lang as Real Estate Broker
---------------------------------------------------------
SFX Entertainment, Inc., and its debtor-affiliates seek permission
from the U.S. Bankruptcy Court for the District of Delaware to
employ Jones Lang LaSalle Brokerage, Inc. as real estate broker,
nunc pro tunc to April 15, 2016.

The Debtors require JLL to:

     (a) sublease the Client's leased premises on the 8th, 14th and
15 floors of the building located at 902 Broadway, New York, New
York 10017 (the "Current Premises");

     (b) arrange for an assignment of all or a portion of the
Client's obligations under the lease for the Current Premises, plus
the Client's obligation to lease additional space on the 10th floor
of the building on or before September 1, 2017 (collectively, the
"Current Lease");

     (c) arrange for an agreement between the landlord and the
Client whereby the Client is relieved of all or a portion of their
obligations under the Lease (collectively with subparagraphs (a)
and (b), the "Disposition Lease");

     (d) locate and assist in negotiating lease(s) for new office
space, or assist in negotiating renewal or extension of existing
lease(s), on behalf of the Client in the New York metropolitan area
(the "New Lease"); and

     (e) acquire the details on all contemplated or presently
available locations, presenting to the Client a recommendation on
the locations that would be the most suitable (collectively with
subparagraph (d), the "Acquisition Services", and together with the
Disposition Services, the "Services").

The Debtors agreed to compensate JLL as follows:

     A. In connection with the Disposition Services, the following
compensation schedule shall apply to subleases, lease assignments
or lease termination, whether or not through the efforts of JLL
(subleases and lease assignments both referred to below as a
sublease):

          i. Subleases and/or assignments:

             - Transaction without a cooperating broker: the lease
of (i) one full commission, calculated in accordance with the
Standard Market Disposition Commission Rates set forth in Exhibit A
to the Services Agreement and (ii) 25% of any "value" actually
realised by the Client (which, for the avoidance of doubt, shall be
calculated as follows: (x) the total consideration received by the
Client, less (y) any rent due and payable by the Client pursuant to
the Lease for the applicable portion of the Premises being sublet
or assigned (other than fees, costs, expenses or commissions set
forth in Section 2.1 of the Services Agreement) over $1,000,000 as
a result of said sublease/assignments, shall be paid by the Client
to JLL.

             - Transaction with a cooperating broker: the lesser of
(i) an override equal to 50% of the commission, calculated in
accordance with the Standard Market Disposition Commission Rates
set forth in Exhibit A to the Services Agreement and (ii) 25% of
any "value" actually realized by the Client (which, for the
avoidance of doubt, shall be calculated as follows: (x) the total
consideration received by the Client, less (y) any rent due and
payable by the Client pursuant to the Lease for the applicable
portion of the Premises being sublet or assigned (other than fees,
costs, expenses or commissions set forth in Section 2.1 of the
Services Agreement) over $1,000,000 as a result of said
sublease/assignments, shall be paid by the Client to JLL, in
addition to one full commission paid by the Client to the
Cooperating Broker.

         ii. Early termination of the Lease:

             - Early termination (other than a rejection of the
lease in bankruptcy): a commission equal to 25% of the "value:
actually realized by the Client in excess $1,000,000 will be paid
to JLL by the Client. For avoidance of doubt, "value" shall be
calculated as follows: (x) the total consideration received by the
Client (including, but not limited to, a cash payment (other than
return of a deposit) received by the Client from landlord in
connection with the Lease termination and/or rent abatement given
by landlord to the Client on any premises within the landlord's
portfolio that is leased by the Client in connection with the Lease
Termination), less (y) any rents otherwise due and payable by the
Client to the landlord pursuant to the Lease for what portion of
the Premises being terminated (other than fees, costs, expenses or
commissions set forth in Section 2.1 of the Services Agreement).

     B. In no event shall the fee paid to JLL for a Disposition
Commission be greater than $750,000.

The Debtor has agreed to pay expenses that are set forth in a
budget prepared by JLL and by the Client (or the Reorganized
Client) in the Client's sole discretion.

Thomas P. Mullaney, Managing Director of JLL Restructuring
Services, 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.

JLL may be reached at:

        Thomas P. Mullaney
        Jones Lang LaSalle Brokerage, Inc.
        330 Madison Avenue
        New York, NY 10017
        Tel: (805)259-9486
        E-mail: tom.mullaney@am.jll.com

                  About SFX Entertainment

SFX Entertainment, Inc., and 43 of its affiliates, a global
producer of live events and digital entertainment content focused
exclusively on the electronic music culture and other world-class
festivals, filed Chapter 11 bankruptcy petitions (Bankr. D. Del.
Case Nos. 16-10238 to 16-10281) on Feb. 1, 2016.  The petitions
were signed by Michael Katzenstein as chief restructuring officer.

The Debtors disclosed total assets of $661.6 million and total
debts of $490.2 million.

Judge Mary F. Walrath is assigned to the case.

Greenberg Traurig, LLP serves as the Debtors' counsel.  Kurtzman
Carson Consultants LLC acts as the Debtors' claims and noticing
agent.

The Official Committee of Unsecured Creditors retained Pachulski
Stang Ziehl & Jones LLP as counsel; and Conway Mackenzie, Inc., as
financial advisor.


SHELBOURNE NORTH: Court Sanctions Kelleher for Baseless Suit
------------------------------------------------------------
Plaintiff Garrett Kelleher filed this adversary proceeding against
Defendants National Asset Loan Management, Ltd. ("NALM") and Capita
Asset Services (Ireland) Limited alleging that they are barred
under provisions in the confirmed chapter 11 plan of Shelbourne
North Water Street, L.P. from collecting on a personal loan made to
Kelleher. NALM and Capita filed a motion to dismiss the complaint
and then a motion for a protective order. Before either motion was
decided, Kelleher voluntarily dismissed the complaint without
prejudice. The NALM Parties then filed a motion for sanctions. They
contend that there was no basis in law or fact for Kelleher's
complaint and that sanctions should be imposed.

Judge Carol A. Doyle of the United States Bankruptcy Court for the
Northern District of Illinois, Eastern Division, granted the NALM
Parties' motion for sanctions under Rule 9011 against Kelleher and
Joseph Frank.  The court required Kelleher and his counsel to pay
the NALM Parties' attorneys' fees in defending this action.

A full-text copy of the Memorandum Opinion dated April 28, 2016 is
available at http://is.gd/tqtZFhfrom Leagle.com.

The adversary case is Garrett Kelleher, Plaintiff, v. National
Asset Loan Management, Ltd. and Capita Asset Services (Ireland)
Limited, Defendants, Adversary No. 15 A in relation to In re:
Shelbourne North Water Street L.P., Debtor. 00544,Case No. 13 B
44315.

Garrett Kelleher, Plaintiff, is represented by Joseph D Frank, Esq.
-- jfrank@fgllp.com -- FrankGecker LLP, Frances Gecker, Esq. --
fgecker@fgllp.com -- FrankGecker LLP, Jeremy C Kleinman, Esq. --
jkleinman@fgllp.com -- FrankGecker LLP.

National Asset Loan Management, Ltd., Defendant, is represented by
Travis J Eliason, Esq. -- travis.eliason@quarles.com -- Quarles &
Brady LLP, Faye B Feinstein, Esq. -- faye.feinstein@quarles.com --
Quarles & Brady LLP.

             About Shelbourne North Water Street

A group of creditors filed an involuntary Chapter 11 petition
against Chicago, Illinois-based Shelbourne North Water Street L.P.
(Bankr. D. Del. Case No. 13-12652) on Oct. 10, 2013.  The case is
assigned to Judge Kevin J. Carey.

The petitioners are represented by Zachary I Shapiro, Esq., and
Russell C. Silberglied, Esq., at Richards, Layton & Finger, P.A.,
in Wilmington, Delaware.

The Debtor consented on Nov. 8, 2013, to being in Chapter 11
reorganization.

FrankGecker LLP represents the Debtor in its restructuring
effort.


SKYBRIDGE SPECTRUM: Objects to Leong's Sec. 543 Motion
------------------------------------------------------
Court-appointed Receiver, Susan L. Uecker, filed her joinder to Dr.
Arnold Leong's Amended Motion, which asked the U.S. Bankruptcy
Court for the District of Delaware to excuse the Receiver from
compliance with Section 543 of the Bankruptcy Code and grant relief
from the Automatic Stay, or appoint a Chapter 11 Trustee ("543
Motion").

Debtor Skybridge Spectrum Foundation objected to the 543 Motion.

"Glossing over the fact that Receiver has been willfully violating
the automatic stay since she learned of Debtor's bankruptcy filing
no later than March 14, 2016 and decided not to turn over Debtor's
property despite express demand, Leong manages to recite an
explanation of the purpose of the automatic stay that somehow fails
to mention providing the Debtor a breathing spell... Leong blithely
asserts that Debtor will suffer no prejudice by permitting Receiver
to continue depriving Debtor of its property.  He suggests that
doing so would eliminate "gaming"... And it may even prevent a
"catastrophic loss"... It is Receiver who has abandoned her
fiduciary duties and is "gaming," not Debtor.  And it is she who is
seeking to liquidate Debtor at a "catastrophic loss."  Debtor is
seeking to preserve its assets and reorganize," the Debtor
contends.

Susan L. Uecker, Court-appointed Receiver, is represented by:

          Eric D. Schwartz, Esq.
          Curtis S. Miller, Esq.
          Marcy J. McLaughlin, Esq.
          MORRIS, NICHOLS, ARSHT & TUNNELL LLP
          1201 North Market Street, Suite 1800
          Wilmington, DE 19801
          Telephone: (302)351-9208
          Facsimile: (302)425-4672
          E-mail: eschwartz@mnat.com
                  cmiller@mnat.com
                  mmclaughlin@mnat.com

                - and -

          David DeGroot, Esq.
          SHEPPARD MULLIN RICHTER & HAMPTON LLP
          Four Embarcadero Center, 17th Floor
          San Francisco, CA 94111
          Telephone: (415)774-3230
          Facsimile: (415)434-3947
          E-mail: ddegroot@sheppardmullin.com

Skybridge Spectrum Foundation is represented by:

          Elihu E. Allinson III, Esq.
          SULLIVAN HAZELTINE ALLINSON LLC
          901 North Market Street, Suite 1300
          Wilmington, DE 19801
          Telephone: (302)428-8191
          Facsimile: (302)428-8195
          E-mail: zallinson@sha-llc.com

                About Skybridge Spectrum Foundation

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: Incurs $15.5 Million Net Loss in First Quarter
-----------------------------------------------------------------
Southcross Energy Partners, L.P. filed with the Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing a
net loss of $15.5 million on $120 million of total revenues for the
three months ended March 31, 2016, compared to a net loss of $13.9
million on $186 million of total revenues for the same period in
2015.

As of March 31, 2016, Southcross had $1.31 billion in total assets,
$693 million in total liabilities and $620 million in total
partners' capital.

"We have the right team and strategically located assets to best
leverage the anticipated recovery in commodity prices and
associated increase in Eagle Ford drilling activity," said John
Bonn, president and chief executive officer of Southcross' general
partner.  "We remain focused on best positioning Southcross during
the current commodity price environment and associated market
uncertainty."

For the quarter ended March 31, 2016, growth capital expenditures
were $3.1 million and were related primarily to work to enhance
system efficiency and reliability.  Southcross anticipates that
growth capital expenditures for full year 2016 will be in the range
of $20 million to $30 million.

As of March 31, 2016, Southcross had total outstanding debt of
$639.2 million including $184.6 million under its revolving credit
facility and a $14.2 million senior unsecured note payable.  Based
on the terms of its credit facilities, as amended on May 7, 2015,
Southcross' total leverage ratio (as generally defined as debt
divided by credit agreement EBITDA) was 5.5 to 1 as of March 31,
2016, which included the benefit of a $0.5 million equity cure in
order to meet the leverage covenant requirement.  The cure will be
funded in accordance with the terms of the equity cure contribution
agreement.

Distributable cash flow for the quarter ended March 31, 2016, was
$10.3 million, compared to $7.8 million for the same period in the
prior year and $11.4 million for the quarter ended Dec. 31, 2015.

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

                      https://is.gd/5MD3uq

                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 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.


SPI ENERGY: Appoints New Independent Director
---------------------------------------------
SPI Energy Co., Ltd., announced that Dr. Maurice Ngai has been
appointed as a new independent director, chairman of the Audit
Committee and a member of the Compensation Committee, effective May
9, 2016.

"We are delighted to welcome someone of Dr. Ngai’s caliber and
experience to our Board," said Xiaofeng Peng, Chairman and CEO of
SPI Energy.  "Given his wealth of knowledge of financial,
accounting and corporate governance issues, he is the ideal choice
to serve as the chairman of the Company's Audit Committee.  I am
confident that Dr. Ngai's strategic skillset and business acumen
will be extremely valuable as we plan for future growth.'

Dr. Ngai is the founder and CEO of SW Corporate Services Group
Limited, a company providing company secretarial, corporate
governance and compliance services. Prior to that, he was the
director and head of listing services of an independent integrated
corporate services provider.  He has over 25 years of corporate and
professional experience, working in senior management posts of
company secretary, executive director and chief financial officer.
During his career, Dr. Ngai has led and participated in a number of
significant corporate finance projects including listings, mergers
and acquisitions as well as issuance of debt securities.

Dr. Ngai is a member of the Working Group on Professional Services
under the Economic Development Commission of HKSAR, a director of
Hong Kong Coalition of Professional Services, the President of the
Hong Kong Institute of Chartered Secretaries (2015), a General
Committee member of The Chamber of Hong Kong Listed Companies, a
member of Qualification and Examination Board of the Hong Kong
Institute of Certified Public Accountants and the Adjunct Professor
of Law of Hong Kong Shue Yan University.  Dr. Ngai obtained a
Doctoral Degree in Finance at Shanghai University of Finance and
Economics, a Master's Degree in Corporate Finance from Hong Kong
Polytechnic University, a Master's Degree in Business
Administration from Andrews University of Michigan and a Bachelor's
Degree in Laws at University of Wolverhampton.  He is in a selected
talent pool of State-owned Assets Supervision and Administration of
the State Council (SASAC) and is serving as an independent
non-executive director of several reputable listed companies.

                  About SPI Energy Co., Ltd.

SPI Energy Co., Ltd., (As successor in interest to Solar Power,
Inc.), is a global provider of photovoltaic (PV) solutions for
business, residential, government and utility customers and
investors.  SPI Energy focuses on the downstream PV market
including the development, financing, installation, operation and
sale of utility-scale and residential solar power projects in
China, Japan, Europe and North America.  The Company operates an
innovative online energy e-commerce and investment platform,
http://www.solarbao.com/,which enables individual and
institutional investors to purchase innovative PV-based investment
and other products; as well as http://www.solartao.com/, a B2B
e-commerce platform offering a range of PV products for both
upstream and downstream suppliers and customers.  The Company has
its operating headquarters in Shanghai and maintains global
operations in Asia, Europe, North America and Australia.

Solar Power reported a net loss of $5.19 million in 2014, a net
loss of $32.2 million in 2013 and a net loss of $25.4 million in
2012.  As of Sept. 30, 2015, the Company had $727 million in total
assets, $431 million in total liabilities and $296 million in total
equity.


SPI ENERGY: Enters into $57 Million Share Purchase Agreements
-------------------------------------------------------------
SPI Energy Co., Ltd., announced the entry into share purchase
agreements with existing shareholders including Zhou Shan, Head &
Shoulders Global Investment Limited (formerly Robust Elite
Limited), and certain members of its management team, to purchase
an aggregate of 75,990,000 ordinary shares of the Company (the
"Shares") at a price of US$0.759 per Share (US$7.59 per ADS), for a
total consideration of US$57.68 million.

The Shares are being offered and sold solely to non-U.S. investors,
on a private placement basis in reliance on Regulation S
promulgated under the U.S. Securities Act of 1933, as amended. The
completion of the above transaction is subject to the satisfaction
of customary closing conditions and the Purchasers are subject to a
one-year lock-up period.

Net proceeds from the above transaction are intended to be used for
expansion of SPI Energy's global PV project activities and general
corporate purposes.

                      About SPI Energy Co., Ltd.

SPI Energy Co., Ltd., (As successor in interest to Solar Power,
Inc.), is a global provider of photovoltaic (PV) solutions for
business, residential, government and utility customers and
investors.  SPI Energy focuses on the downstream PV market
including the development, financing, installation, operation and
sale of utility-scale and residential solar power projects in
China, Japan, Europe and North America.  The Company operates an
innovative online energy e-commerce and investment platform,
http://www.solarbao.com/,which enables individual and
institutional investors to purchase innovative PV-based investment
and other products; as well as http://www.solartao.com/, a B2B
e-commerce platform offering a range of PV products for both
upstream and downstream suppliers and customers.  The Company has
its operating headquarters in Shanghai and maintains global
operations in Asia, Europe, North America and Australia.

Solar Power reported a net loss of $5.19 million in 2014, a net
loss of $32.2 million in 2013 and a net loss of $25.4 million in
2012.  As of Sept. 30, 2015, the Company had $727 million in total
assets, $431 million in total liabilities and $296 million in total
equity.


SS BODY ARMOR: Cohen's Bid to Stay Pending Appeal Denied
--------------------------------------------------------
Judge Sue L. Robinson of the United States District Court for the
District of Delaware denied D. David Cohen's motion to stay pending
resolution of his appeal before the Second Circuit Court of
Appeals.

Cohen appealed to the Second Circuit the Eastern District's order
granting a motion to approve a settlement agreement between the
debtor, SS Body Armor I, and the plaintiffs in a New York class
action, as well as the debtor's motion to dismiss a New York
derivative action, thus leaving fee issues to the bankruptcy
court.

Cohen also appealed the bankruptcy court's order granting in part
and denying in part his fee claim seeking payment of $1,860,000 in
fees and expenses.

A full-text copy of Judge Robinson's March 30, 2016 memorandum
order is available at http://is.gd/1Uuijnfrom Leagle.com.

The bankruptcy case is IN RE: SS BODY ARMOR I, INC., et al.,
Debtors, Bank. No. 10-11255 (CSS) (Bankr. D. Del.).

The  appealed case is D. DAVID COHEN, Appellant, v. SS BODY ARMOR
I, INC., Appellee, Civ. No. 15-633-SLR (D. Del.).

D. David Cohen is represented by:

          Michael Busenkell, Esq.
          GELLERT SCALI BUSENKELL & BROWN, LLC
          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

S.S. Body Armor I, Inc. is represented by:

          Laura Davis Jones, Esq.
          PACHULSKI, STANG, ZIEHL & JONES, LLP
          919 North Market Street, 17th Floor
          Wilmington, DE 19801
          Tel: (302)652-4100
          Fax: (302)652-4400
          Email: ljones@pszjlaw.com

NECA-IBEW Pension Fund, George Baciu, Robbins Geller Rudman & Dowd
LLP, Labaton Sucharow LLP, Robbins Arroyo LLP, Law Offices of
Thomas Amon, are represented by:

          Kevin Scott Mann, Esq.
          CROSS & SIMON, LLC
          1105 North Market Street, Suite 901
          Wilmington, DE 19801
          Tel: (302)777-4200
          Fax: (302)777-4224
          Email: kmann@crosslaw.com


ST. MICHAEL'S MEDICAL: Court OKs Global Settlement Agreement
------------------------------------------------------------
Judge Vincent F. Papalia of the U.S. Bankruptcy Court for the
District of New Jersey approved the Global Settlement Agreement
executed between Debtors Saint Michael's Medical Center, Inc., et.
al., Trinity Health Corporation, and the Official Committee of
Unsecured Creditors.

A mediation was conducted on Oct. 7, 2015 among the parties to
attempt to resolve the Committee's objections to the entry of the
proposed Final DIP Order.  The Parties were able to achieve
consensus and the Court entered the Final DIP Order.

The Parties entered into the Global Settlement Agreement in order
to settle any and all disputes and issues existing between the
Official Committee and the Debtors on the one hand, and Trinity on
the other hand, arising as of the effective date of the Agreement.

The Global Settlement Agreement contains, among others, the
following relevant terms:

     (1) Budget and Wind Down:  The Budget shall be amended to
include reasonable costs of preparing and confirming a plan of
liquidation and provide sufficient funding to effectuate an orderly
wind down of the Debtors' estates, including the payment of allowed
priority and administrative expense claims all reasonably
acceptable in substance, costs and funding to the Debtors, Trinity
and the Official Committee but in any such event such costs and
funding shall not be more than $750,000 in the aggregate.

     (2) DIP Loans: The Commitment is increased to $15,750,000 and,
to the extent the final DIP Loans balance is less than $15,750,000,
the Debtors shall have the right to draw down from the DIP Facility
an amount equal to the difference between the final DIP Loans
balance and $15,750,000.

     (3) Waiver of Claims:

          (i) DIP Obligations: Trinity shall waive all of its
claims arising from or related to any and all of the DIP
Obligations and all attendant liens and security interests,
including, but not limited to, any lien on or claim to the Parking
Lot, funds subject to the BONY adversary proceeding and proceeds of
the Avoidance Actions.

          (ii) General Unsecured Claim: Trinity shall retain a
general unsecured claim ("Trinity Claim") that will share in any
distribution to the class of general unsecured creditors pursuant
to a confirmed plan of liquidation (or an order of dismissal) as
follows:

               (a) If the total amount of allowed general unsecured
claims, other than the Trinity Claim ("Non-Trinity Claims"), is
greater than $100,000,000, then after the Non-Trinity Claims have
received a distribution of 4%, or in any event not to exceed
$8,000,000, the Trinity Claim shall receive 30% and the Non-Trinity
Claims shall receive 70% of the remaining amount available for
distribution to general unsecured creditors;

               (b) If the Non-Trinity Claims are between
$100,000,000 and $75,000,000, then, after the Non-Trinity Claims
have received a distribution of 8%, the Trinity Claim shall receive
30% and the Non-Trinity Claims shall receive 70% of the remaining
amount available for distribution to general unsecured creditors;

               (c) If the Non-Trinity Claims are between
$74,999,999 and $50,000,000, then, after the Non-Trinity Claims
have received a distribution of 12%, the Trinity Claim shall
receive 30% and the Non-Trinity Claims shall receive 70% of the
remaining amount available for distribution to general unsecured
creditors;

               (d) If the Non-Trinity Claims are between
$49,999,999 and $25,000,000, then, after the Non-Trinity Claims
have received a distribution of 15%, the Trinity Claim shall
receive 30% and the Non-Trinity Claims shall receive 70% of the
remaining amount available for distribution to general unsecured
creditors;

               (e) If the Non-Trinity Claims are less than
$25,000,000, then, after the Non-Trinity Claims have received a
distribution of 20%, the Trinity Claim shall receive 30% and the
Non-Trinity Claims shall receive 70% of the remaining amount
available for distribution to general unsecured creditor.
The Global Settlement Agreement was approved by Judge Papalia
despite the objections filed by (a) District 1199J, National Union
of Hospital & Healthcare Employees, AFSCME and District 1199J
Benefit & Pension Funds, and (b) Med Realty, LLC, Columbus
MedRealty, LLC, Saint James MedRealty,LLC and Hospital MedRealty,
LLC.

A full-text copy of the Order, dated April 26, 2016, is available
at https://is.gd/wosaDv

Saint Michael's Medical Center, Inc., and its affiliated debtors
are represented by:

          Michael D. Sirota, Esq.
          Ryan T. Jareck, Esq.
          COLE SCHOTZ P.C.
          Court Plaza North
          25 Main Street
          P.O. Box 800
          Hackensack, NJ 07602-0800
          Telephone: (201)489-3000
          Facsimile: (201)489-1536
          E-mail: msirota@coleschotz.com
                  rjareck@coleschotz.com

The Official Committee of Unsecured Creditors of Saint Michael's
Medical Center, Inc., et. al. is represented by:

          Andrew H. Sherman, Esq.
          Boris I. Mankovetskiy, Esq.
          Lucas F. Hammonds, Esq.
          SILLS CUMMIS & GROSS P.C.
          One Riverfront Plaza
          Newark, NJ 07102
          Telephone: (973)643-7000
          Facsimile: (973)643-6500
          E-mail: asherman@sillscummis.com
                 bmankovetskiy@sillscummis.com
                 lhammonds@sillscummis.com

                   About Saint Michael's Medical

Saint Michael's Medical Center, Inc., was incorporated in 2008 to
acquire St. Michael's Medical Center and 2 other now defunct
hospitals (Saint James Hospital and Columbus Hospital) was
acquired
from Cathedral Healthcare System Inc., a New Jersey nonprofit.

SMMC is a second tier subsidiary of Trinity Health Corporation.
The
immediate sole corporate member of SMMC is Maxis Health System, a
Pennsylvania not-for-profit corporation.

Established by the Franciscan Sisters of the Poor in 1867, St.
Michael's Medical Center is a 357- bed licensed regional
tertiary-care, teaching, and research center in the heart of
Newark, New Jersey's business and educational district and is
accredited by The Joint Commission.

On Aug. 10, 2015, SMMC Inc. and three affiliated debtors each
filed
a voluntary petition for relief under Chapter 11 of the U.S.
Bankruptcy Code in the U.S. Bankruptcy Court for the District of
New Jersey.  The cases are pending before the Honorable Vincent F.
Papalia, and the Debtors have requested that their cases be
jointly
administered under Case No. 15-24999.

The Debtors tapped Cole Schotz P.C. as bankruptcy counsel;
EisnerAmper LLP as financial advisor; and Prime Clerk LLC as
claims
and noticing agent.

SMMC estimated $100 million to $500 million in assets and debt.

United States Trustee Region 3, notified the United States
Bankruptcy Court for the District of
New Jersey of the appointment of Susan N. Goodman, RN JD, as
patient care ombudsman in the Chapter 11 case of Saint Michael's
Medical Center, Inc., and its debtor affiliates.

U.S. trustee for Region 3, appointed seven creditors of Saint
Michael's Medical Center Inc. and its affiliates to serve on the
official committee of unsecured creditors.   Andrew H. Sherman,
Esq., Boris I. Mankovetskiy, Esq., and Lucas F. Hammonds, Esq., at
Sills Cummis & Gross PC, represent the Committee.


STAPLES INC: Fitch Affirms 'BB+' IDR, Off CreditWatch Negative
--------------------------------------------------------------
Fitch Ratings has affirmed the Long-Term Issuer Default Rating for
Staples, Inc. at 'BB+' and the Short-Term IDR at 'B'.  Fitch has
removed the Rating Watch Negative following the announced
termination of the Office Depot acquisition.  The Rating Outlook is
Stable.

                       KEY RATING DRIVERS

Office Depot Merger to be Terminated

Staples and Office Depot announced an intention to terminate their
merger agreement on May 16, 2016, following a federal court
decision to grant the FTC's request to block the merger on
anti-competitive concerns.

Standalone Business Expected to Be Flat at Best

The ratings reflect continued secular headwinds and competitive
challenges in the office products category which have pressured
EBITDA since 2012.  On a standalone basis, Fitch views Staples as
having limited ability to reverse declines in sales and EBITDA over
the forecast horizon, especially given the heightened threat from
new entrants in the contract stationer business.

Staples has fought a number of challenges in recent years,
including both secular headwinds and strengthened competition.  The
ongoing digitalization of the workplace has had a negative impact
on sales of core office supplies, ink/toner and paper, which
represent around half of Staples volume.  Sales of technology
products (approximately 20% of sales) have been weak due to a
slowing replacement cycle and saturation of key products such as
laptops and tablets.  Fitch expects both of these headwinds to
continue over the forecast horizon.

As sales shift online across many retail categories, new
competitors have emerged in the office products category,
pressuring in-store sales across the industry.  Since 2012,
Staples' North American retail sales are down approximately 25%
(recently exacerbated by the weak Canadian dollar) and margins of
the combined retail/Staples.com business have contracted from 8.3%
to 4.5%.  As a result, EBITDA contribution has declined nearly 50%
from $1.2 billion (57% of total) in 2012 to $650 million (45% of
total) in 2015.

Amazon has begun a significant push into office products sales to
contract customers, which will limit market share opportunities for
existing players.  Sales and EBITDA to contract customers have been
fairly stable for the last few years, but Fitch expects Staples'
competitive positioning could weaken over time.

Staples has undertaken a number of initiatives to combat these
challenges.  First, the company has reduced its North American
store base by around 300 units or over 15% since 2011, with another
50 announced for 2016, to an expected 1,510 by the end of 2016.
Second, the company has refocused selling efforts around categories
including breakroom and janitorial supplies, which are seeing less
secular pressure.  Finally, the company has managed its cost
structure through the elimination of over $750 million in expenses
over the last three years.

The company has announced an additional $300 million cost reduction
program to be completed by 2018, and the pursuit of strategic
alternatives for Staples' European business, which Fitch estimates
is modestly EBITDA negative.

While these efforts have mitigated secular pressures, Staples'
sales and EBITDA have declined each year from their respective
peaks in 2011 of $25 billion and $2.3 billion.  In 2015, $21
billion in sales and EBITDA of $1.4 billion were both 6% below 2014
levels, with EBITDA margin falling to 6.7% from the 2011 peak of
9%.  Fitch believes medium-term EBITDA will remain flat at best,
likely within the $1.2 billion - $1.4 billion range, as industry
challenges persist.

Given the above EBITDA expectations, adjusted leverage is expected
to trend in the 3.2x - 3.4x range over the forecast horizon, which
Fitch views as representative of a 'BB+' rating for a secularly
challenged retailer.

KEY ASSUMPTIONS

   -- Fitch expects modestly negative annual sales growth over the

      forecast horizon, based on modestly negative retail/online
      comps and flattish growth in the commercial delivery
      business, with EBITDA ranging between $1.2 billion - $1.4
      billion on modest margin declines.

   -- Projected free cash flow (FCF) after dividends of
      $300 million in 2016 will be used for merger-related debt
      issuance expenses of $100 million - $150 million and merger
      breakup fees of $250 million.  The company has announced
      $100 million of share repurchases in 2016 and the company
      may need to fund this with revolver borrowings or cash on
      hand.  FCF is expected to remain in the $300 million range
      annually beginning 2017, which Fitch expects will put
      towards share purchases.

   -- Adjusted leverage is expected to remain in the 3.2x - 3.4x
      range.

RATING SENSITIVITIES

Future developments that may, individually or collectively, lead to
a negative rating action include continued negative sales and
margin trends and declines in EBITDA that drive adjusted leverage
above the mid-3x range.

Future developments that may, individually or collectively, lead to
a positive rating action include a stabilization of top-line
trends, the resumption of positive EBITDA momentum, and maintenance
of adjusted debt/EBITDAR at or under 3x.

                            LIQUIDITY

The company had adequate liquidity at Jan. 30, 2016, comprising of
$825 million in cash and full availability on its $1 billion
revolving credit facility.

FULL LIST OF RATING ACTIONS

Fitch has affirmed these ratings:

Staples, Inc.

   -- Long-term IDR at 'BB+';
   -- $1 billion unsecured revolving credit facility at 'BB+/RR4';

   -- Senior unsecured notes at 'BB+/RR4';
   -- Short-term IDR at 'B';
   -- Commercial paper at 'B'.

The Outlook is Stable.

In addition, Fitch has withdrawn the ratings on the
acquisition-related debt due to the announced termination of the
Office Depot merger:

   -- $3 billion secured revolving credit facility;
   -- $2.5 billion secured term loan.


STELLAR BIOTECHNOLOGIES: Incurs $861,000 Net Loss in 1st Quarter
----------------------------------------------------------------
Stellar Biotechnologies, Inc., reported a net loss of $861,010 on
$326,335 of total revenues for the three months ended March 31,
2016, compared to a net loss of $426,164 on $187,627 of total
revenues for the same period in 2015.

For the six months ended March 31, 2016, the Company reported a net
loss of $2.49 million on $814,495 of total revenues compared to a
net loss of $1.76 million on $400,288 of total revenues for the six
months ended March 31, 2015.

As of March 31, 2016, Stellar had $9.42 million in total assets,
$616,097 in liabilities and $8.81 million in shareholders' equity.

"Stellar delivered another quarter with strong operational results,
once again increasing sales over previous periods while
demonstrating careful management of resources and projects," said
Frank Oakes, president and chief executive officer of Stellar
Biotechnologies, Inc.  "The increased interest in Stellar KLH is a
direct reflection of the growing pipeline of active immunotherapies
using KLH, and recognition for Stellar's value proposition which is
our ability to deliver scalable supplies of GMP grade KLH product.
We are continuing to work closely with current and prospective
customers to ensure long-term support of their immunotherapy
programs."

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

                     https://is.gd/Pt0db8

                         About Stellar

Port Hueneme, Cal.-based Stellar Biotechnologies, Inc.'s
business is to commercially produce and market Keyhole Limpet
Hemocyanin ("KLH") as well as to develop new technology related to
culture and production of KLH and subunit KLH ("suKLH")
formulations.  The Company markets KLH and suKLH formulations to
customers in the United States and Europe.

KLH is used extensively as a carrier protein in the production of
antibodies for research, biotechnology and therapeutic
applications.

Stellar Biotechnologies reported a net loss of $8.43 million for
the year ended Aug. 31, 2014, a net loss of $14.5 million for the
year ended Aug. 31, 2013, and a net loss of $5.52 million for the
year ended Aug. 31, 2012.  Stellar Biotechnologies reported a net
loss of $2.84 million on $758,689 of revenues for the year ended
Sept. 30, 2015.


STONEGATE MORTGAGE: S&P Revises Outlook to Neg. & Affirms 'B' ICR
-----------------------------------------------------------------
S&P Global Ratings said it revised its outlook on Stonegate
Mortgage Corp. to negative from stable.  At the same time, S&P
affirmed its 'B' issuer credit rating on Stonegate.

"The outlook revision follows Stonegate's announcement of
weaker-than-expected earnings for the first quarter of 2016," said
S&P Global Ratings credit analyst Stephen Lynch.  "Stonegate
originated $1.94 billion of mortgages in the first quarter, down
25% from the same period a year ago.  Gain on sale margins also
contracted, to about 120 bps from 173 bps, further weakening the
firm's earnings."

Persistently low interest rates also led to a $35.7 million
negative mark on the company's mortgage servicing rights (MSRs).
Although the negative mark is a non-cash adjustment, S&P views the
tangible equity embedded in Stonegate's MSRs as a key component of
the company's credit profile.  Although the unpaid principal
balance of Stonegate's MSRs increased to $18.1 billion during the
quarter, the company ended the period with $171.7 million of MSRs,
down from $199.6 million at the end of 2015.  Stonegate ended the
first quarter with $217.6 million of tangible equity, down from
$272.6 million a year earlier.

The negative outlook reflects weaker-than-expected earnings and
depleting equity.

S&P could lower its rating on Stonegate in the next six months to a
year if earnings do not improve, if losses further impair its
equity position, or if it has difficulty retaining its funding
sources.  S&P could also lower the rating if the company alters its
business strategy, such as lowers the credit quality of mortgages
to increase volume or if the firm becomes acquisitive.

S&P could revise the outlook to stable if the company returns to a
consistent level of profitability.  More specifically, S&P would
look for Stonegate to generate $15 million to $20 million of EBITDA
per year.  An upgrade, however, is unlikely over the next one to
two years.  Over time, S&P could raise the rating if the company is
able to improve and sustain leverage below 4.0x debt to adjusted
EBITDA.


TAG ENTERTAINMENT: Bankr. Court Recommends Judgment Favoring U.S.
-----------------------------------------------------------------
Judge Victoria S. Kaufman of the United States Bankruptcy Court for
the Central District of California, San Fernando Valley, issued a
report and recommendation to the district court for withdrawal of
reference and to enter judgment in favor of the United States in
the adversary proceeding captioned DIANE C. WEIL, Chapter 7
Trustee, Plaintiff, v. THE UNITED STATES OF AMERICA, Defendant,
Adv. No. 1:10-ap-01342-VK (Bankr. C.D Cal.).

Diane C. Weil, chapter 7 trustee, requested avoidance of allegedly
fraudulent transfers to the defendant United States of America
pursuant to 11 U.S.C. sections 544 and 550.

Judge Kaufman found that the trustee did not demonstrate that any
of the transfers flowed from the debtor to the United States, nor
meet her burden of proving that any transfers were made with intent
to hinder, delay or defraud creditors of the debtor.

Judge Kaufman also respectfully submitted that the facts of the
case, coupled with the consitutional mandate that the bankruptcy
court does not have authority to enter final judgment in the
proceeding, constitute sufficient cause within the meaning of 28
U.S.C. Section 157(d), for the district court to withdraw the
reference for the purpose of entering final judgment in the
proceeding.

The bankruptcy case is In re: TAG ENTERTAINMENT CORP., Chapter 7,
Debtor, Case No. 1:09-bk-26982-VK (Bankr. C.D. Cal.).

A full-text copy of Judge Kaufman's March 29, 2016 order is
available at http://is.gd/k5R6cUfrom Leagle.com.

                    About TAG Entertainment

TAG Entertainment Corp. -- http://www.tagentertainment.com/-- and
its wholly owned subsidiary, TAG Entertainment USA, Inc., are
independent producers of family oriented feature films, television
programming and other entertainment products for theatrical,
television and home video distribution.  In 2004, the company
produced 21 episodes of the television series Arizona Highways: The
Television Series for local broadcast.


TELEFLEX INC: S&P Lowers Rating on Sr. Unsecured Debt to 'BB'
-------------------------------------------------------------
S&P Global Ratings lowered its issue-level rating on U.S. medical
device developer and manufacturer Teleflex Inc.'s senior unsecured
debt to 'BB' from 'BB+', one notch below S&P's corporate credit
rating on the company following issuance of $400 million senior
unsecured notes due 2026.

At the same time, S&P assigned a 'BB' rating to the new senior
unsecured notes.  The recovery rating on this debt is '5'.

In addition, S&P revised its recovery rating on the company's
existing unsecured debt to '5' from '4.'  The '5' recovery rating
indicates S&P's expectations of modest (10%-30%; upper half of the
range) recovery in the event of a payment default.  

S&P revised its recovery rating on Teleflex's unsecured debt
because of higher unsecured balances following its refinancing of
the revolver borrowing with incremental senior unsecured notes.

All of S&P's other ratings on Teleflex Inc. are unchanged.  S&P's
assessment of the financial risk profile is unchanged at
intermediate because the transaction was leverage neutral.

The corporate credit rating on Teleflex is 'BB+' with a stable
outlook.

RATINGS LIST

Teleflex Inc.
Corporate Credit Rating                BB+/Stable/--

Downgraded; Recovery Ratings Revised
                                        To          From
Teleflex Inc.
Senior Unsecured                       BB          BB+
   Recovery Rating                      5H          4H

New Rating

Teleflex Inc.
$400 Mil. Senior Unsecured Notes
  Due 2026                              BB
   Recovery Rating                      5H


TENET HEALTHCARE: BlackRock Reports 11.1% Stake
-----------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, BlackRock, Inc. disclosed that as of April 30, 2016, it
beneficially owns 11,002,695 shares of common stock of Tenet
Healthcare Corp. representing 11.1 percent of the shares
outstanding.  A copy of the regulatory filing is available for fre
at https://is.gd/VHvIdn

                         About Tenet

Tenet Healthcare Corporation -- http://www.tenethealth.com/-- is  

a national, diversified healthcare services company with 110,000
employees united around a common mission: to help people live
happier, healthier lives.  The company operates 80 hospitals, 214
outpatient centers, six health plans and Conifer Health Solutions,
a leading provider of healthcare business process services in the
areas of revenue cycle management, value based care and patient
communications.

Tenet Healthcare reported a net loss attributable to the Company's
common shareholders of $140 million on $18.63 billion of net
operating revenues for the year ended Dec. 31, 2015, compared to
net income available to the Company's common shareholders of $12
million on $16.60 billion of net operating revenues for the year
ended Dec. 31, 2014.

As of March 31, 2016, Tenet had $23.76 billion in total assets,
$20.45 billion in total liabilities, $2.38 billion in redeemable
noncontrolling interests in equity of consolidated subsidiaries and
$926 million in total equity.

                         *    *    *

Tenet carries a 'B' IDR from Fitch Ratings, 'B' corporate credit
rating from Standard & Poor's Ratings Services and 'B1' Corporate
Family Rating from Moody's Investors Service.


THIS IS IT LLC: Case Summary & 2 Unsecured Creditors
----------------------------------------------------
Debtor: This Is It, LLC
        880 Attucks Lane
        Hyannis, MA 02601

Case No.: 16-11813

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: May 13, 2016

Court: United States Bankruptcy Court
       District of Massachusetts (Boston)

Judge: Hon. Joan N. Feeney

Debtor's Counsel: David B. Madoff, Esq.
                  MADOFF & KHOURY LLP
                  124 Washington Street - Suite 202
                  Foxborough, MA 02035
                  Tel: 508-543-0040
                  Fax: 508-543-0020
                  E-mail: madoff@mandkllp.com

                    - and -

                  Steffani Pelton Nicholson, Esq.
                  MADOFF & KHOURY LLP
                  124 Washington Street
                  Foxborough, MA 02035
                  Tel: 508-543-0040
                  E-mail: pelton@mandkllp.com

Total Assets: $2.20 million

Total Liabilities: $3.05 million

The petition was signed by Jeffrey Ehart, president/manager.

A list of the Debtor's two largest unsecured creditors is available
for free at http://bankrupt.com/misc/mab16-11813.pdf


THREE FROGS: Plea to Extend Exclusive Solicitation Period Denied
----------------------------------------------------------------
The Hon. Laura S. Taylor of the U.S. Bankruptcy Court for the
Southern District of California has denied Three Frogs, Inc.'s
motion to extend the Debtor's exclusive time for acceptance of plan
of reorganization.

For the reasons stated in the Court's tentative ruling and as
further set forth on the record, the extension motion is denied.

The Court has granted the motion for order terminating the
Exclusive Period in which the Debtor may solicit acceptances of its
Chapter 11 plan.  Any party in interest may file a Chapter 11 plan
and disclosure statement, and following court approval of the
disclosure statement, solicit acceptances of that Chapter 11 plan.

Headquartered in La Mesa, California, Three Frogs, Inc., filed for
Chapter 11 bankruptcy protection (Bankr. S.D. Cal. Case No.
15-04921) on July 27, 2015, estimating its assets and liabilities
at between $1 million and $10 million each.  The petition was
signed by David S. Wolfe, president.  Judge Laura S. Taylor
presides over the case.  Michael T. O'Halloran, Esq., at the Law
Office of Michael T. O'Halloran serves as the Debtor's bankruptcy
counsel.


TITAN INTERNATIONAL: S&P Revises Outlook to Neg. & Affirms B- CCR
-----------------------------------------------------------------
S&P Global Ratings said that it has revised its outlook on Quincy,
Ill.-based Titan International Inc. to negative from stable and
affirmed its 'B-' corporate credit rating on the company.

At the same time, S&P affirmed its 'B' issue-level rating on the
company's senior secured second-lien notes.  The '2' recovery
rating on the debt is unchanged, indicating S&P's expectation for
substantial (70%-90%; lower half of the range) recovery in the
event of a payment default.

"The negative outlook reflects the risk that Titan's credit
measures will remain very weak if the challenging conditions in its
end markets persist, which could cause us to view the company's
capital structure as unsustainable," said S&P Global credit analyst
Svetlana Olsha.  "Titan continues to be affected by the depressed
conditions in its agricultural and mining end markets, both of
which are in the midst of a cyclical downturn, and there is limited
visibility on when they will recover."  S&P believes that the
company's agricultural end market will continue to moderately
decline in 2016 but that Titan should be able to offset a portion
of this decline through company-specific initiatives, such as
increased market penetration of its low side wall (LSW) tires and
modest revenue from its tire reclamation business.  S&P also do not
foresee a recovery in the company's earthmoving and construction
segment due largely to persistently low commodity prices.

The negative outlook on Titan reflects that S&P expects the
company's credit measures to remain weak in 2016, primarily because
of the challenges facing its agricultural and mining end markets
and unfavorable headwinds from the strong dollar.  Despite its
challenging operating conditions, S&P expects the company to
maintain adequate liquidity.

S&P could lower its ratings on Titan if its end markets deteriorate
by more than S&P expects in the next 12 months, causing its revenue
and margins to decline further and its leverage to increase well
above 10x.  S&P could also lower its ratings if moderate negative
free cash flow generation, combined with the upcoming revolver
maturity at the end of 2017, pressures the company's liquidity.

S&P could revise its outlook on Titan to stable if S&P expects the
company's operating performance to stabilize, causing its
debt-to-EBITDA metric to improve toward 6.5x.  S&P would also
expect the company to generate positive free operating cash flow
and preserve adequate levels of liquidity.


TRIANGLE PETROLEUM: Inks Special Compensation Pact with COO & CAO
-----------------------------------------------------------------
As disclosed in a regulatory filing with the Securities and
Exchange Commission, Triangle Petroleum Corporation entered into a
Special Compensation Arrangement with each of Dominic Spencer, the
Company's chief operating officer, and Douglas Griggs, the
Company's chief accounting officer and acting principal financial
officer.

Pursuant to the Compensation Arrangements, annual base salaries are
set at $450,000 for Mr. Spencer and $400,000 for Mr. Griggs, with
annual incentive bonus opportunities of up to 100% and 75% of base
salary, respectively.  $225,000 of Mr. Spencer's annual incentive
bonus is guaranteed and payable upon execution of his Compensation
Arrangement.  A cash retention bonus ($1,000,000 in the case of Mr.
Spencer and $500,000 in the case of Mr. Griggs) is likewise payable
upon execution of the respective Compensation Arrangement.  The
bonus payments, which are intended to secure Mr. Spencer's and Mr.
Griggs' services while the Company continues to explore and
evaluate strategic alternatives, are repayable by the applicable
executive on a pro-rata basis if his employment is terminated by
the Company with "cause" or by the executive without "good reason"
before the earlier of the first anniversary of the effective date
of the Compensation Arrangement or the consummation of certain
reorganization events affecting the Company's business.

                   Agreement with Jonathan Samuels

On May 4, 2016, the Company entered into a Fourth Amended and
Restated Employment Agreement with Jonathan Samuels, the Company's
president and chief executive officer.  The Employment Agreement
amended Mr. Samuels' existing employment agreement to, among other
things, set his annual base salary at $850,000, establish a
one-year term (rather than automatic one-year renewals), guarantee
and pay $1,000,000 of his annual incentive bonus opportunity (which
is set at 200% of base salary) upon execution of the Employment
Agreement, and pay a cash retention bonus of $1,500,000 upon
execution of the Employment Agreement.  The bonus payments, which
are intended to secure Mr. Samuels' services while the Company
continues to explore and evaluate strategic alternatives, are
repayable by Mr. Samuels on a pro-rata basis if his employment is
terminated by the Company with "cause" or by Mr. Samuels without
"good reason" before the earlier of the first anniversary of the
effective date of the Employment Agreement or the consummation of
certain reorganization events affecting the Company's business.
Upon a qualifying termination of employment (a termination by the
Company without "cause" or by Mr. Samuels for "good reason"), Mr.
Samuels would receive continued base salary and benefits for 21
months.  Such severance is also payable if the Company declines to
offer a renewal of the Employment

Agreement upon its expiration on economically equivalent terms
(determined without regard to the bonus prepayment amounts
described above).

                  About Triangle Petroleum

Triangle Petroleum Corporation is a Denver-based oil and natural
gas exploration and production company.   Triangle Petroleum
conducts its E&P, oilfield and midstream activities in the
Williston Basin of North Dakota and Montana.

KPMG LLP, in Denver, Colorado, issued a "going concern"
qualification on the Company's consolidated financial statements
for the year ended Jan. 31, 2016, citing that the Company does not
have sufficient liquidity to meet this obligation, if called by the
lenders.  These conditions raise substantial doubt about the
Company's ability to continue as a going concern.


UNIVERSAL WELL: Hires Ritchie Bros. as Auctioneer
-------------------------------------------------
Universal Well Service Holdings, Inc., seeks permission from the
U.S. Bankruptcy Court for the Northern District of Texas to employ
Ritchie Bros. Auctioneers (America) Inc.,, as auctioneer.

A hearing on the motion is set for June 8, 2016, at 1:30 p.m.

The Debtor wants to employ Ritchie Bros. to conduct the public
auction sale of oil well service equipment, inventory, trailers and
vehicles stored at depots strategically located in Snyder and
Colorado City, Texas,

Ritchie Bros. will conduct the auction starting at 8:00 a.m. on
Wedenesday, July 20, 2016, and Thursday, July 21, 2016, at 6050
Azle Avenue, Lake Worth, Texas 76135-2603.  Information regarding
the items to be sold in lots as well as terms of sale will be made
available on the Ritchie Website: www.rbauction.com.

Consistent with the contract to auction, Ritchie Bros. will receive
as compensation for its services a commission based on the gross
sale price of the Equipment equal to 10% for any lot in excess of
$2,500 and for any lot realizing $2,500 or less, 25% with a minimum
fee of $100 per lot.

Wade W. Whitenburg -- wwhitenburg@ritchiebros.com -- at Ritchie
Bros. assures the Court that the company is a disinterested person
as defined in 11 U.S.C. Section 101(14), and that it has no
interests adverse to those of the estate.

                       About Universal Well

Universal Well Service Holdings, Inc. sought protection under
Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for
the Northern District of Texas (Ft. Worth) (Case No. 16-40979) on
March 2, 2016.  

The petition was signed by Kenneth K. Conte, chief financial
officer. The Debtor is represented by Joseph F. Postnikoff, Esq.,
at Goodrich Postnikoff & Associates, LLP.

The Debtor estimated assets of $1 million to $10 million and debts
of $10 million to $50 million.


VV HOSPITALITY: Case Summary & 2 Unsecured Creditors
----------------------------------------------------
Debtor: VV Hospitality LLC
        3419 E Chapman Ave Ste 353
        Orange, CA 92869

Case No.: 16-12036

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: May 13, 2016

Court: United States Bankruptcy Court
       Central District of California (Santa Ana)

Judge: Hon. Scott C Clarkson

Debtor's Counsel: Yoon O Ham, Esq.
                  LEWIS & HAM LLP
                  1425 W Foothill Blvd Ste 235
                  Upland, CA 91786
                  Tel: 909-256-2920
                  Fax: 909-256-2927
                  E-mail: hamy@lewishamlaw.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Gary Kanter, manager.

A list of the Debtor's two largest unsecured creditors is available
for free at http://bankrupt.com/misc/cacb16-12036.pdf


WABASH NATIONAL: S&P Raises Rating to 'BB', Outlook Stable
----------------------------------------------------------
S&P Global Ratings said that it has upgraded Lafayette, Ind.-based
truck trailer manufacturer Wabash National Corp. to 'BB' from
'BB-'.  The outlook is stable.

At the same time, S&P raised its issue-level rating on the
company's term loan to 'BB+' from 'BB'.  The '2' recovery rating
remains unchanged, indicating S&P's expectation for substantial
(70%-90%; lower half of the range) recovery in the event of a
payment default.

"The upgrade reflects Wabash's good operating performance, which we
expect will continue based on the company's execution of its growth
and diversification strategies over the last several years, the
currently healthy pricing environment in its trailer products
segment, and its operational improvements," said S&P Global credit
analyst Robyn Shapiro.  "These factors, along with some debt
reduction over the last year, have contributed to the company's
strong credit metrics, and we believe that Wabash could maintain a
FOCF-to-debt ratio of greater than 15% and a debt-to-EBITDA metric
of less than 3x through the business cycle despite its large
exposure to the more commodity-like trailer segment."

The stable outlook on Wabash reflects S&P's view that the company
will be able to maintain FOCF-to-debt ratio of at least 15% and a
debt-to-EBITDA metric meaningfully below 3x over the next 12
months.

Although not incorporated in S&P's base-case forecast, it could
lower its ratings on Wabash if its FOCF-to-debt ratio fell below
15% or its debt-to-EBITDA metric surpassed 3x for a sustained
period.  This could occur if meaningfully weaker-than-expected
demand in the cyclical North American trailer market caused the
company's production to decline or reversed the good results from
its diversified products division.

Though unlikely in the next 12 months, S&P could raise its ratings
on Wabash if S&P was to believe that the company's business risk
position had improved.  For example, S&P would look for increased
stability in the company's profitability over the next cyclical
downturn in trailer demand.


WAFERGEN BIO-SYSTEMS: Incurs $4.40-Mil. Net Loss in First Quarter
-----------------------------------------------------------------
WaferGen Bio-systems, Inc., reported a net loss of $4.40 million on
$1.93 million of total revenue for the three months ended March 31,
2016, compared to a net loss of $4.80 million on $1.14 million of
total revenue for the same period in 2015.

As of March 31, 2016, Wafergen had $18.7 million in total assets,
$7.11 million in total liabilities and $11.6 million in total
stockholders' equity.

"The first quarter was another strong one for WaferGen," said
Rollie Carlson, Ph.D., president and chief executive officer of
WaferGen.  "We have placed four ICELL8 Single-Cell Systems since
our initial launch in October of 2015, and are extremely pleased
with our sales pipeline.  Based on the feedback we are receiving
from potential customers, leading biopharmaceutical companies and
academic institutions, the demand for our ICELL8 Single Cell System
is strong.  Another key indicator for our business is our first
quarter performance in Europe, where we generated more revenues
during the first three months of the year than we did over the
entire course of 2015.  Based on all of this, as well as the
continued strong performance from our base business, we continue to
expect full-year 2016 revenues to be in the range of $12 million to
$13 million."

At March 31, 2016, WaferGen had cash and cash equivalents of
approximately $10.9 million.

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

                     https://is.gd/ZiBGKp

                  About WaferGen Bio-systems

Fremont, California-based WaferGen Bio-systems, Inc., engages in
the development of systems for gene expression quantification,
genotyping and stem cell research.  Since 2008, the Company's
primary focus has been on the development, manufacture and
marketing of its SmartChip System, a genetic analysis platform
used for profiling and validating molecular biomarkers in the life
sciences and pharmaceutical drug discovery industries.

WaferGen reported a net loss attributable to common stockholders of
$19.99 million on $7.16 million of total revenue for the year ended
Dec. 31, 2015, compared to a net loss attributable to common
stockholders of $10.7 million on $6 million of total revenue for
the year ended Dec. 31, 2014.


WAGLE LLC: U.S. Trustee Unable to Appoint Committee
---------------------------------------------------
The Office of the U.S. Trustee disclosed in a court filing that no
official committee of unsecured creditors has been appointed in the
Chapter 11 case of Wagle LLC.  

Wagle LLC sought protection under Chapter 11 of the Bankruptcy Code
in the Western District of Pennsylvania (Pittsburgh) (Case No.
16-21169) on March 30, 2016.  The petition was signed by Patricia
D. Wagle, member.

The Debtor is represented by Francis E. Corbett, Esq. The case is
assigned to Judge Carlota M. Bohm.

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



WESTMORELAND COAL: Posts $30.1 Million Net Income for Q1
--------------------------------------------------------
Westmoreland Coal Company filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing net income
of $30.08 million on $354.72 million of revenues for the three
months ended March 31, 2016, compared to a net loss of $13.87
million on $371.48 million of revenues for the same period in
2015.

As of March 31, 2016, Westmoreland had $1.77 billion in total
assets, $2.32 billion in total liabilities and a total deficit of
$550.08 million.

"Despite weak power demand during the first quarter, which was one
of the warmest quarters on record, our mine-mouth and
cost-protected model again helped us deliver solid results,
especially cash flows," said Kevin Paprzycki, Westmoreland's chief
executive officer.  "We continue to make progress on our cash
generation initiatives as we work towards paying down our debt late
in the year.  Our goal is to create value for Westmoreland's
investors by generating cash and strengthening our balance sheet."

Westmoreland ended the 2016 first quarter with $17.8 million of
cash and cash equivalents on hand.  Contributing to the $5.2
million decrease from year end were, among other items, first
quarter's free cash flow generation, $11.0 million cash debt
reductions, approximately $6 million of cash used, net of loan
proceeds received, to purchase San Juan and $3.2 million of cash
used for additional bonding.  Westmoreland had outstanding debt at
quarter end of $1,129.0 million, an increase from year end driven
by the San Juan financing.

At March 31, 2016, Westmoreland had zero drawn on its revolving
credit facility and had, net of letters of credit, $36.3 million
available to draw.  An additional $15 million was available to
Westmoreland Resource Partners through its revolving credit
facility, which is not available to the parent for borrowings.

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


                         https://is.gd/pNQdND

                        About Westmoreland Coal

Colorado Springs, Colo.-based Westmoreland Coal Company (NYSE
AMEX: WLB) -- http://www.westmoreland.com/-- is the oldest        

independent coal company in the United States.  The Company's coal
operations include coal mining in the Powder River Basin in
Montana and lignite mining operations in Montana, North Dakota and
Texas.  Its power operations include ownership of the two-unit
ROVA coal-fired power plant in North Carolina.

Westmoreland reported a net loss applicable to common shareholders
of $203.31 million on $1.41 billion of revenues for the year ended
Dec. 31, 2015, compared to a net loss applicable to common
shareholders of $173.11 million on $1.11 billion of revenues for
the year ended Dec. 31, 2014.

                            *     *     *

As reported by the TCR on Nov. 20, 2014, Standard & Poor's Rating
Services raised its corporate credit rating on Westmoreland Coal
Co. one-notch to 'B' from 'B-'.  "The stable outlook is supported
by Westmoreland's committed sales position over the next year,
which should result in stable cash flows," said Standard & Poor's
credit analyst Chiza Vitta.

Moody's upgraded the corporate family rating (CFR) of Westmoreland
Coal Company to 'B3' from 'Caa1', and assigned 'Caa1' rating to
the company's proposed new $300 million First Lien Term Loan, the
TCR reported on Nov. 20, 2014.  The upgrade of the CFR reflects the
company's successful integration of the Canadian mines acquired in
April 2014, and Moody's expectation that the company's Debt/ EBITDA
will track at around 5x in 2015 and 2016 and that the company will
be break-even to modestly free cash flow positive over the same
time period.


WESTMORELAND RESOURCE: Incurs $8.85-Mil. Net Loss in 1st Quarter
----------------------------------------------------------------
Westmoreland Resource Partners, LP, filed with the Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing a
net loss of $8.85 million on $92.5 million of total revenues for
the three months ended March 31, 2016, compared to a net loss of
$6.18 million on $107 million of total revenues for the same period
in 2015.

As of March 31, 2016, Westmoreland Resource had $412 million in
total assets, $408 million in total liabilities, and $3.15 million
in total capital.

As of March 31, 2016, the Company's available liquidity was $23.7
million, which included $8.7 million in cash and $15.0 million of
availability under its Revolving Credit Facility.

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

                       https://is.gd/oxaC2K

                    About Westmoreland Resource

Oxford Resource Partners, LP, now known as Westmoreland Resource
Partners, LP, is a producer of high value steam coal, and is the
largest producer of surface mined coal in Ohio.


WHITING PETROLEUM: To Convert $476M Notes Into Common Shares
------------------------------------------------------------
Whiting Petroleum Corporation gave notice to mandatorily convert
$476.3 million aggregate principal amount of outstanding
convertible notes into shares of the Company's common stock, par
value $0.001 per share, on May 18, 2016, as disclosed in a
regulatory filing with the Securities and Exchange Commission.

Prior to such notice, holders of $0.4 million aggregate principal
amount of outstanding convertible notes had voluntarily converted
such notes into shares of Common Stock.  As a result, the Company
will have issued an aggregate of approximately 41.8 million shares
of Common Stock to retire all of the $476.7 million aggregate
principal amount of convertible senior notes and convertible senior
subordinated notes that the Company issued in March 2016 in
exchange for the same amount of senior notes and senior
subordinated notes.

The following table sets forth the aggregate principal amount of
each series of Convertible Notes that have been or will be
converted into shares of Common Stock pursuant to the Conversions.

                                                       Principal
Convertible Notes                                     Amount
-----------------                                   -----------
6.5% Convertible Senior Subordinated Notes due 2018  $48,712,000
5.0% Convertible Senior Notes due 2019               $96,812,000
5.75% Convertible Senior Notes due 2021              $152,477,000
6.25% Convertible Senior Notes due 2023              $178,742,000
                                                     ------------
Total                                                $476,743,000  

Pursuant to the terms of the Convertible Notes, holders of the
Convertible Notes may give notice to voluntarily convert the
Convertible Notes up to the close of business on May 17, 2016.  If
all holders of the Convertible Notes voluntarily convert the
Convertible Notes, the Company will make early conversion payments
to holders of the Convertible Notes totaling approximately $41.9
million, plus accrued and unpaid interest to the conversion date.
Holders who do not voluntarily convert their Convertible Notes will
not receive an early conversion payment or accrued and unpaid
interest.

The Company issued the shares of Common Stock pursuant to the
Conversions in reliance on the exemption from registration provided
by Section 3(a)(9) of the Securities Act of 1933, as amended.

                    About Whiting Petroleum

Whiting Petroleum Corporation is an independent oil and gas company
engaged in development, production, acquisition and exploration
activities primarily in the Rocky Mountains and Permian Basin
regions of the United States.

Whiting Petroleum reported a net loss available to common
shareholders of $2.21 billion on $2.05 billion of total revenues
and other income for the year ended Dec. 31, 2015, compared to net
income available to common shareholders of $64.80 million on $3.08
billion of total revenues and other income for the year ended
Dec. 31, 2014.


Y&K SUN INC: Case Summary & 10 Unsecured Creditors
--------------------------------------------------
Debtor: Y&K Sun, Inc.
        6451 to 6597 W Colfax Ave
        Lakewood, CO 80214-1801

Case No.: 16-14761

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: May 12, 2016

Court: United States Bankruptcy Court
       District of Colorado (Denver)

Judge: Hon. Howard R Tallman

Debtor's Counsel: Andrew D. Johnson, Esq.
                  OONSAGER GUYERSON FLETCHER JOHNSON
                  1801 Broadway, Ste. 900
                  Denver, CO 80202
                  Tel: 303-512-1123
                  Fax: 303-512-1129
                  E-mail: ajohnson@OGFJ-law.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Hyungkeun Sun, president.

A list of the Debtor's 10 largest unsecured creditors is available
for free at http://bankrupt.com/misc/cob16-14761.pdf


YRC WORLDWIDE: Files Copy of Presentation Materials with SEC
------------------------------------------------------------
YRC Worldwide Inc. delivered a presentation on May 12, 2016, at the
BNP Paribas 2016 Bank Loan Conference in Sarasota, Florida; will
deliver a presentation on May 17, 2016, at the Bank of America
Merrill Lynch 2016 Transportation Conference in Boston,
Massachusetts; and on May 25, 2016 at the Wolfe Research 9th Annual
Global Transportation Conference in New York, New York.  A copy of
the slide show presentation to be presented at the conferences is
available for free at https://is.gd/UF1FUP

                      About YRC Worldwide

Headquartered in Overland Park, Kan., YRC Worldwide Inc. (NASDAQ:
YRCW) -- http://www.yrcw.com/-- is a holding company that offers
its customers a wide range of transportation services.  These
services include global, national and regional transportation as
well as logistics.

YRC Worldwide reported net income attributable to common
shareholders of $700,000 on $4.83 billion of operating revenue for
the year ended Dec. 31, 2015, compared to a net loss attributable
to common shareholders of $85.8 million on $5.06 billion of
operating revenue for the year ended Dec. 31, 2014.

As of March 31, 2016, YRC Worldwide had $1.86 billion in total
assets, $2.25 billion in total liabilities and a shareholders'
deficit of $392.7 million.

                            *    *    *

As reported by the TCR on Feb. 18, 2014, Moody's Investors Service
had upgraded the Corporate Family Rating for YRC Worldwide from
'Caa3' to 'B3', following the successful closing of its
refinancing
transactions.

In the Aug. 11, 2015, TCR report, Standard & Poor's Ratings
Services said that it has raised its corporate credit rating on
Overland, Kan.-based less-than-truckload (LTL) trucking company YRC
Worldwide to 'B-' from 'CCC+'.

"The upgrade reflects YRC's earnings growth and improved liquidity
position, along with our belief that gradual improvement in the
company's operating performance will result in credit measures that
are commensurate with the rating," said Standard & Poor's credit
analyst Michael Durand.


[*] Kaufman Joins King & Spalding's Atlanta, DC Offices as Partner
------------------------------------------------------------------
King & Spalding on May 16 disclosed that bankruptcy attorney Mark
Kaufman has joined the firm as a partner in its Atlanta and
Washington DC offices.  He joins the firm from Dentons, where he
was a partner.

Mr. Kaufman's practice focuses on advising financially distressed
municipalities, special purpose districts and related governmental
entities, as well as bondholders, bond insurers and other
investors, regarding emerging legal issues and appropriate
strategies for fiscally challenged credits.  Mr. Kaufman served as
lead counsel to the governor-appointed Receiver to the City of
Harrisburg, Penn., when Harrisburg was able to successfully
complete its financial restructuring without resorting to Chapter 9
bankruptcy protection.  He was honored as the Mid-Market
Restructuring Lawyer of the Year by the Global M&A Network for his
work on the Harrisburg matter and more generally in the municipal
distress space.

"Mark is a well-known and highly regarded restructuring attorney
with a combination of intellectual perspective and practical
experience that is unusual in our field," said Paul Ferdinands,
head of King & Spalding's Financial Restructuring/Bankruptcy
practice.  "Having Mark at the firm will provide our clients and
the firm with the benefit of his network as well as insights into
the latest issues in the restructuring world right now.  We are
delighted to have him."

Mr. Kaufman is an author and frequent speaker at conferences and
symposia on the legal and financial issues associated with fiscally
challenged municipalities.  He has served as president of the
Bankruptcy Section of the Atlanta Bar Association and is an
emeritus director of the Southeastern Bankruptcy Law Institute
(SBLI).  Mr. Kaufman served as president and chairman of SBLI in
2007 and 2008, respectively.  He also chaired Georgia's Bankruptcy
Bench and Bar Conference.  He received his undergraduate degree
from Cornell, and his JD from Harvard.

"I am excited to continue working on cutting-edge municipal
restructuring issues with a collaborative, smart team," said Mr.
Kaufman.  "This is a great opportunity."

                      About King & Spalding

Celebrating more than 130 years of service, King & Spalding --
http://www.kslaw.com-- is an international law firm that
represents a broad array of clients, including half of the Fortune
Global 100, with 900 lawyers in 18 offices in the United States,
Europe, the Middle East and Asia.  The firm has handled matters in
over 160 countries on six continents and is consistently recognized
for the results it obtains, uncompromising commitment to quality,
and dedication to understanding the business and culture of its
clients.


[^] 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  ALSWF US          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)
ADV MICRO DEVICE  AMD QT          2,981.0      (503.0)     898.0
ADV MICRO DEVICE  AMDCHF EU       2,981.0      (503.0)     898.0
ADV MICRO DEVICE  AMD TE          2,981.0      (503.0)     898.0
ADV MICRO DEVICE  AMD US          2,981.0      (503.0)     898.0
ADV MICRO DEVICE  AMD TH          2,981.0      (503.0)     898.0
ADV MICRO DEVICE  AMD* MM         2,981.0      (503.0)     898.0
ADV MICRO DEVICE  AMD SW          2,981.0      (503.0)     898.0
ADV MICRO DEVICE  AMD GR          2,981.0      (503.0)     898.0
ADVENT SOFTWARE   ADVS US           424.8       (50.1)    (110.8)
AERIE PHARMACEUT  AERIEUR EU        139.2        (0.2)     104.6
AERIE PHARMACEUT  AERI US           139.2        (0.2)     104.6
AERIE PHARMACEUT  0P0 GR            139.2        (0.2)     104.6
AEROJET ROCKETDY  GCY GR          1,988.0      (124.0)     132.7
AEROJET ROCKETDY  GCY TH          1,988.0      (124.0)     132.7
AEROJET ROCKETDY  AJRD US         1,988.0      (124.0)     132.7
AIR CANADA        ACDVF US       13,503.0      (732.0)    (256.0)
AIR CANADA        AC CN          13,503.0      (732.0)    (256.0)
AIR CANADA        ADH2 QT        13,503.0      (732.0)    (256.0)
AIR CANADA        ADH2 TH        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)
AK STEEL HLDG     AKS* MM         3,987.3      (611.6)     750.7
AK STEEL HLDG     AK2 GR          3,987.3      (611.6)     750.7
AK STEEL HLDG     AK2 TH          3,987.3      (611.6)     750.7
AK STEEL HLDG     AKS US          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  ANGI US           182.4        (3.5)     (27.8)
ANGIE'S LIST INC  8AL GR            182.4        (3.5)     (27.8)
ARCH COAL INC     ACIIQ* MM       4,855.4    (1,449.1)     913.7
ARIAD PHARM       ARIA SW           502.5      (154.0)      84.2
ARIAD PHARM       APS QT            502.5      (154.0)      84.2
ARIAD PHARM       APS TH            502.5      (154.0)      84.2
ARIAD PHARM       ARIAEUR EU        502.5      (154.0)      84.2
ARIAD PHARM       APS GR            502.5      (154.0)      84.2
ARIAD PHARM       ARIA US           502.5      (154.0)      84.2
ARIAD PHARM       ARIACHF EU        502.5      (154.0)      84.2
ASPEN TECHNOLOGY  AST GR            439.4       (35.5)     (21.3)
ASPEN TECHNOLOGY  AZPN US           439.4       (35.5)     (21.3)
AUTOZONE INC      AZO US          8,366.4    (1,741.3)    (784.8)
AUTOZONE INC      AZ5 TH          8,366.4    (1,741.3)    (784.8)
AUTOZONE INC      AZOEUR EU       8,366.4    (1,741.3)    (784.8)
AUTOZONE INC      AZ5 GR          8,366.4    (1,741.3)    (784.8)
AUTOZONE INC      AZ5 QT          8,366.4    (1,741.3)    (784.8)
AVID TECHNOLOGY   AVD GR            311.8      (303.6)     (75.2)
AVID TECHNOLOGY   AVID US           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 US          3,629.1      (435.7)     604.6
AVON PRODUCTS     AVP GR          3,629.1      (435.7)     604.6
AVON PRODUCTS     AVP TH          3,629.1      (435.7)     604.6
AVON PRODUCTS     AVP CI          3,629.1      (435.7)     604.6
BARRACUDA NETWOR  CUDAEUR EU        419.8       (32.1)     (41.9)
BARRACUDA NETWOR  7BM GR            419.8       (32.1)     (41.9)
BARRACUDA NETWOR  CUDA US           419.8       (32.1)     (41.9)
BENEFITFOCUS INC  BNFT US           136.0       (26.7)       9.6
BENEFITFOCUS INC  BTF GR            136.0       (26.7)       9.6
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      EAT US          1,489.2      (243.7)    (225.6)
BRINKER INTL      BKJ GR          1,489.2      (243.7)    (225.6)
BRP INC/CA-SUB V  BRPIF US        2,445.2       (14.1)     363.3
BRP INC/CA-SUB V  B15A GR         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  BUI GR          2,580.1       (99.0)      46.4
BURLINGTON STORE  BURL US         2,580.1       (99.0)      46.4
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  CVC US          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           131.8       (74.0)     (58.3)
CARBONITE INC     4CB GR            132.7        (4.8)     (46.0)
CARBONITE INC     CARB US           132.7        (4.8)     (46.0)
CASELLA WASTE     CWST US           620.4       (28.5)       0.3
CASELLA WASTE     WA3 GR            620.4       (28.5)       0.3
CEB INC           CEB US          1,299.6       (23.3)    (202.0)
CEB INC           FC9 GR          1,299.6       (23.3)    (202.0)
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     CHH US            787.3      (385.9)     117.8
CHOICE HOTELS     CZH GR            787.3      (385.9)     117.8
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          5,739.4      (940.4)     692.7
CLEAR CHANNEL-A   CCO US          5,739.4      (940.4)     692.7
CLIFFS NATURAL R  CVA QT          1,886.3    (1,696.7)     352.2
CLIFFS NATURAL R  CLF* MM         1,886.3    (1,696.7)     352.2
COGENT COMMUNICA  OGM1 GR           665.1       (18.4)     168.5
COGENT COMMUNICA  CCOI US           665.1       (18.4)     168.5
COHERUS BIOSCIEN  8C5 GR            226.2       (66.9)     118.7
COHERUS BIOSCIEN  8C5 TH            226.2       (66.9)     118.7
COHERUS BIOSCIEN  CHRSEUR EU        226.2       (66.9)     118.7
COHERUS BIOSCIEN  CHRS US           226.2       (66.9)     118.7
COLGATE-BDR       COLG34 BZ      12,448.0       (73.0)      27.0
COLGATE-CEDEAR    CL AR          12,448.0       (73.0)      27.0
COLGATE-PALMOLIV  CPA QT         12,448.0       (73.0)      27.0
COLGATE-PALMOLIV  CPA GR         12,448.0       (73.0)      27.0
COLGATE-PALMOLIV  CPA TH         12,448.0       (73.0)      27.0
COLGATE-PALMOLIV  CLEUR EU       12,448.0       (73.0)      27.0
COLGATE-PALMOLIV  CL* MM         12,448.0       (73.0)      27.0
COLGATE-PALMOLIV  CL SW          12,448.0       (73.0)      27.0
COLGATE-PALMOLIV  CLCHF EU       12,448.0       (73.0)      27.0
COLGATE-PALMOLIV  CL US          12,448.0       (73.0)      27.0
COMMUNICATION     CSAL US         2,517.9    (1,288.9)       -
COMMUNICATION     8XC GR          2,517.9    (1,288.9)       -
CPI CARD GROUP I  PNT CN            280.4       (86.6)      59.0
CPI CARD GROUP I  CPB GR            280.4       (86.6)      59.0
CPI CARD GROUP I  PMTS US           280.4       (86.6)      59.0
CRIUS ENERGY TRU  KWH-U CN          280.8       (35.8)     (50.3)
CYAN INC          CYNI US           112.1       (18.4)      56.9
CYAN INC          YCN GR            112.1       (18.4)      56.9
DELEK LOGISTICS   D6L GR            379.2       (11.0)      22.1
DELEK LOGISTICS   DKL US            379.2       (11.0)      22.1
DENNY'S CORP      DENN US           288.8       (57.4)     (48.9)
DENNY'S CORP      DE8 GR            288.8       (57.4)     (48.9)
DIRECTV           DTV US         25,321.0    (3,463.0)   1,360.0
DIRECTV           DTVEUR EU      25,321.0    (3,463.0)   1,360.0
DIRECTV           DTV CI         25,321.0    (3,463.0)   1,360.0
DOMINO'S PIZZA    EZV GR            820.8    (1,730.3)     292.8
DOMINO'S PIZZA    DPZ US            820.8    (1,730.3)     292.8
DOMINO'S PIZZA    EZV TH            820.8    (1,730.3)     292.8
DPL INC           DPL US          3,340.8       (62.2)    (453.8)
DUN & BRADSTREET  DB5 TH          2,176.0    (1,106.3)     (94.4)
DUN & BRADSTREET  DNB US          2,176.0    (1,106.3)     (94.4)
DUN & BRADSTREET  DB5 GR          2,176.0    (1,106.3)     (94.4)
DUN & BRADSTREET  DNB1EUR EU      2,176.0    (1,106.3)     (94.4)
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  DRTX US            82.1       (16.1)      11.7
DURATA THERAPEUT  DTA GR             82.1       (16.1)      11.7
DURATA THERAPEUT  DRTXEUR EU         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
ENERGIZER HOLDIN  ENR-WEUR EU     1,584.4       (10.2)     643.2
ENERGIZER HOLDIN  EGG GR          1,584.4       (10.2)     643.2
ENERGIZER HOLDIN  ENR US          1,584.4       (10.2)     643.2
EPL OIL & GAS IN  EPL US            563.6      (933.3)    (308.4)
EPL OIL & GAS IN  EPA1 GR           563.6      (933.3)    (308.4)
ERIN ENERGY CORP  ERN SJ            359.6      (137.4)    (338.3)
EXELIXIS INC      EX9 TH            492.5      (156.0)     238.4
EXELIXIS INC      EX9 GR            492.5      (156.0)     238.4
EXELIXIS INC      EXELEUR EU        492.5      (156.0)     238.4
EXELIXIS INC      EXEL US           492.5      (156.0)     238.4
FAIRMOUNT SANTRO  FMSA US         1,316.0       (73.6)     171.8
FAIRMOUNT SANTRO  FMSAEUR EU      1,316.0       (73.6)     171.8
FAIRMOUNT SANTRO  FM1 GR          1,316.0       (73.6)     171.8
FAIRPOINT COMMUN  FRP US          1,291.0       (17.0)      (1.2)
FAIRPOINT COMMUN  FONN GR         1,291.0       (17.0)      (1.2)
FIFTH STREET ASS  FSAM US           151.2        (1.7)       -
FREESCALE SEMICO  FSL US          3,159.0    (3,079.0)   1,264.0
FREESCALE SEMICO  1FS TH          3,159.0    (3,079.0)   1,264.0
FREESCALE SEMICO  1FS QT          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 GR          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)
GCP APPLIED TECH  43G GR            985.6      (182.1)     219.8
GCP APPLIED TECH  GCP US            985.6      (182.1)     219.8
GENTIVA HEALTH    GHT GR          1,225.2      (285.2)     130.0
GENTIVA HEALTH    GTIV US         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  GOD GR             15.0       (32.3)     (42.5)
GOLD RESERVE INC  GRZ CN             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 US          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 TH          2,874.0      (536.7)     631.6
HCA HOLDINGS INC  HCA US         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  2BH GR         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          460.1       (65.1)    (465.4)
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            7HP TH         25,517.0    (4,909.0)  (1,606.0)
HP INC            HPQ SW         25,517.0    (4,909.0)  (1,606.0)
HP INC            HPQ US         25,517.0    (4,909.0)  (1,606.0)
HP INC            HPQCHF EU      25,517.0    (4,909.0)  (1,606.0)
HP INC            HWP QT         25,517.0    (4,909.0)  (1,606.0)
HP INC            HPQ TE         25,517.0    (4,909.0)  (1,606.0)
HP INC            7HP GR         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)
HUGHES TELEMATIC  HUTCU US          110.2      (101.6)    (113.8)
IDEXX LABS        IX1 GR          1,478.6       (73.8)     (69.7)
IDEXX LABS        IX1 TH          1,478.6       (73.8)     (69.7)
IDEXX LABS        IDXX US         1,478.6       (73.8)     (69.7)
IMMUNOGEN INC     IMU GR            222.3       (41.1)     153.5
IMMUNOGEN INC     IMU TH            222.3       (41.1)     153.5
IMMUNOGEN INC     IMU QT            222.3       (41.1)     153.5
IMMUNOGEN INC     IMGN US           222.3       (41.1)     153.5
IMMUNOMEDICS INC  IM3 GR             67.6       (45.0)      50.6
IMMUNOMEDICS INC  IM3 TH             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      HVE GR            387.8      (362.0)     186.1
INNOVIVA INC      INVA US           387.8      (362.0)     186.1
INTERNATIONAL WI  ITWG US           325.1       (11.5)      95.4
INVENTIV HEALTH   VTIV US         2,127.8      (783.0)     121.1
IPCS INC          IPCS US           559.2       (33.0)      72.1
ISRAMCO INC       IRM GR            147.0        (2.9)      13.0
ISRAMCO INC       ISRL US           147.0        (2.9)      13.0
ISRAMCO INC       ISRLEUR EU        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   JBX GR          1,301.5      (190.6)     (83.8)
JACK IN THE BOX   JACK1EUR EU     1,301.5      (190.6)     (83.8)
JACK IN THE BOX   JACK US         1,301.5      (190.6)     (83.8)
JUST ENERGY GROU  JE US           1,274.3      (673.6)     (97.6)
JUST ENERGY GROU  JE CN           1,274.3      (673.6)     (97.6)
JUST ENERGY GROU  1JE GR          1,274.3      (673.6)     (97.6)
KOPPERS HOLDINGS  KOP US          1,129.7        (4.3)     173.5
KOPPERS HOLDINGS  KO9 GR          1,129.7        (4.3)     173.5
L BRANDS INC      LB* MM          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 TH          8,493.0      (258.0)   2,281.0
L BRANDS INC      LTD GR          8,493.0      (258.0)   2,281.0
L BRANDS INC      LTD QT          8,493.0      (258.0)   2,281.0
L BRANDS INC      LBEUR EU        8,493.0      (258.0)   2,281.0
LAREDO PETROLEUM  LPI US          1,637.2       (45.7)     124.8
LAREDO PETROLEUM  8LP GR          1,637.2       (45.7)     124.8
LAREDO PETROLEUM  LPI1EUR EU      1,637.2       (45.7)     124.8
LEAP WIRELESS     LEAP US         4,662.9      (125.1)     346.9
LEAP WIRELESS     LWI TH          4,662.9      (125.1)     346.9
LEAP WIRELESS     LWI GR          4,662.9      (125.1)     346.9
LENNOX INTL INC   LII US          1,861.0       (73.3)     318.4
LENNOX INTL INC   LXI GR          1,861.0       (73.3)     318.4
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
LORILLARD INC     LLV TH          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            93.3      (373.5)    (205.1)
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    MDCA US         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-EXC  MDZ/N CN        1,571.6      (454.2)    (274.0)
MEAD JOHNSON      MJN US          4,016.8      (592.4)   1,392.1
MEAD JOHNSON      MJNEUR EU       4,016.8      (592.4)   1,392.1
MEAD JOHNSON      0MJA TH         4,016.8      (592.4)   1,392.1
MEAD JOHNSON      0MJA GR         4,016.8      (592.4)   1,392.1
MEDLEY MANAGE-A   MDLY US           112.0       (24.5)      44.7
MERITOR INC       MTOR US         2,093.0      (601.0)     146.0
MERITOR INC       AID1 GR         2,093.0      (601.0)     146.0
MERRIMACK PHARMA  MACK US           192.9      (217.1)      63.3
MERRIMACK PHARMA  MP6 GR            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        782.8    (1,504.5)  (1,920.4)
MONEYGRAM INTERN  MGI US          4,280.0      (224.3)     (16.8)
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      MCO US          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  MTLA TH         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
MPG OFFICE TRUST  1052394D US     1,280.0      (437.3)       -
MSG NETWORKS- A   1M4 GR            799.5    (1,167.1)     134.9
MSG NETWORKS- A   1M4 TH            799.5    (1,167.1)     134.9
MSG NETWORKS- A   MSGN US           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  NCMI US         1,037.6      (173.3)      92.5
NATIONAL CINEMED  XWM GR          1,037.6      (173.3)      92.5
NAVIDEA BIOPHARM  NAVB IT            15.0       (53.8)       6.4
NAVISTAR INTL     IHR GR          5,980.0    (5,190.0)     139.0
NAVISTAR INTL     NAV US          5,980.0    (5,190.0)     139.0
NAVISTAR INTL     IHR TH          5,980.0    (5,190.0)     139.0
NEFF CORP-CL A    NEFF US           672.3      (169.4)       0.4
NEKTAR THERAPEUT  NKTR US           491.9        (0.3)     278.9
NEKTAR THERAPEUT  ITH GR            491.9        (0.3)     278.9
NEW ENG RLTY-LP   NEN US            202.2       (30.8)       -
NORTHERN OIL AND  4LT GR            573.2      (322.5)      (7.7)
NORTHERN OIL AND  NOG US            573.2      (322.5)      (7.7)
NTELOS HOLDINGS   NTLS US           643.0       (39.0)     106.7
OCH-ZIFF CAPIT-A  OZM US          1,255.3      (183.7)       -
OCH-ZIFF CAPIT-A  35OA GR         1,255.3      (183.7)       -
OMEROS CORP       OMER US            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
OMEROS CORP       3O8 TH             49.0       (26.2)      20.9
OMTHERA PHARMACE  OMTH US            18.3        (8.5)     (12.0)
ONCOMED PHARMACE  O0M GR            204.9       (19.8)     149.9
ONCOMED PHARMACE  OMED US           204.9       (19.8)     149.9
PALM INC          PALM US         1,007.2        (6.2)     141.7
PBF LOGISTICS LP  PBFX US           433.6      (180.7)      40.6
PBF LOGISTICS LP  11P GR            433.6      (180.7)      40.6
PENN NATL GAMING  PENN US         5,128.7      (649.1)    (189.9)
PENN NATL GAMING  PN1 GR          5,128.7      (649.1)    (189.9)
PHILIP MORRIS IN  PMI1 IX        34,621.0   (10,894.0)   1,837.0
PHILIP MORRIS IN  PMI EB         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  4I1 GR         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  PM FP          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  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  PM1CHF EU      34,621.0   (10,894.0)   1,837.0
PHILIP MORRIS IN  PM US          34,621.0   (10,894.0)   1,837.0
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          1,210.9      (101.0)     239.9
PLY GEM HOLDINGS  PGEM US         1,210.9      (101.0)     239.9
POLYMER GROUP-B   POLGB US        1,991.4        (3.9)     322.1
PROTECTION ONE    PONE US           562.9       (61.8)      (7.6)
QUALITY DISTRIBU  QLTY US           413.0       (22.9)     102.9
QUALITY DISTRIBU  QDZ GR            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* MM         2,632.3      (877.6)    (113.1)
REGAL ENTERTAI-A  RGC US          2,632.3      (877.6)    (113.1)
REGAL ENTERTAI-A  RETA GR         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      RVL1 GR         1,887.7      (573.3)     308.5
REVLON INC-A      REV US          1,887.7      (573.3)     308.5
ROUNDY'S INC      4R1 GR          1,095.7       (92.7)      59.7
ROUNDY'S INC      RNDY US         1,095.7       (92.7)      59.7
RURAL/METRO CORP  RURL US           303.7       (92.1)      72.4
RYERSON HOLDING   7RY TH          1,582.8      (118.7)     625.0
RYERSON HOLDING   RYI US          1,582.8      (118.7)     625.0
RYERSON HOLDING   7RY GR          1,582.8      (118.7)     625.0
SALLY BEAUTY HOL  SBH US          2,069.4      (341.4)     643.4
SALLY BEAUTY HOL  S7V GR          2,069.4      (341.4)     643.4
SANCHEZ ENERGY C  13S TH          1,421.2      (523.1)     401.7
SANCHEZ ENERGY C  13S GR          1,421.2      (523.1)     401.7
SANCHEZ ENERGY C  SN US           1,421.2      (523.1)     401.7
SANCHEZ ENERGY C  SN* MM          1,421.2      (523.1)     401.7
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   SBJ GR          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  TJW GR          7,690.7    (1,583.9)     516.3
SCIENTIFIC GAM-A  SGMS US         7,690.7    (1,583.9)     516.3
SEARS HOLDINGS    SEE QT         11,337.0    (1,956.0)     607.0
SEARS HOLDINGS    SHLD US        11,337.0    (1,956.0)     607.0
SEARS HOLDINGS    SEE TH         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           465.6       (45.9)     (20.0)
SILVER SPRING NE  9SI GR            465.6       (45.9)     (20.0)
SILVER SPRING NE  9SI TH            465.6       (45.9)     (20.0)
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  SIRI US         7,928.2      (563.9)  (1,942.3)
SIRIUS XM HOLDIN  RDO GR          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  06S GR            303.0        (2.1)     104.8
SPORTSMAN'S WARE  SPWH US           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  SNDX US            12.8        (5.7)       2.1
SYNDAX PHARMACEU  1T3 GR             12.8        (5.7)       2.1
TAILORED BRANDS   WRMA GR         2,244.3      (100.1)     723.6
TAILORED BRANDS   TLRD US         2,244.3      (100.1)     723.6
TRANSDIGM GROUP   TDG US          8,359.5      (961.8)   1,082.0
TRANSDIGM GROUP   TDGCHF EU       8,359.5      (961.8)   1,082.0
TRANSDIGM GROUP   T7D QT          8,359.5      (961.8)   1,082.0
TRANSDIGM GROUP   TDG SW          8,359.5      (961.8)   1,082.0
TRANSDIGM GROUP   T7D GR          8,359.5      (961.8)   1,082.0
TRANSDIGM GROUP   TDGEUR EU       8,359.5      (961.8)   1,082.0
TRINITY PLACE HO  TPHS US            56.3        (3.3)       -
TURNING POINT BR  TPB US            257.0       (84.6)      49.9
UNISYS CORP       UISCHF EU       2,265.1    (1,354.3)     261.5
UNISYS CORP       UIS US          2,265.1    (1,354.3)     261.5
UNISYS CORP       USY1 TH         2,265.1    (1,354.3)     261.5
UNISYS CORP       UISEUR EU       2,265.1    (1,354.3)     261.5
UNISYS CORP       USY1 GR         2,265.1    (1,354.3)     261.5
UNISYS CORP       UIS1 SW         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      VRSN US         2,323.7    (1,108.0)     464.3
VERISIGN INC      VRS TH          2,323.7    (1,108.0)     464.3
VERISIGN INC      VRS GR          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          1,290.5    (1,296.9)    (173.7)
WEIGHT WATCHERS   WW6 GR          1,290.5    (1,296.9)    (173.7)
WEIGHT WATCHERS   WTW US          1,290.5    (1,296.9)    (173.7)
WEIGHT WATCHERS   WTWEUR EU       1,290.5    (1,296.9)    (173.7)
WEST CORP         WT2 GR          3,522.7      (536.2)     231.2
WEST CORP         WSTC US         3,522.7      (536.2)     231.2
WESTERN REFINING  WNRL US           487.3       (73.7)      13.9
WESTERN REFINING  WR2 GR            487.3       (73.7)      13.9
WINGSTOP INC      WING US           116.6        (4.8)       2.0
WINGSTOP INC      EWG GR            116.6        (4.8)       2.0
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  YEL1 TH         1,863.8      (392.7)     178.1
YRC WORLDWIDE IN  YRCW US         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
YRC WORLDWIDE IN  YEL1 QT         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 ***