TCR_Public/160519.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Thursday, May 19, 2016, Vol. 20, No. 140

                            Headlines

21ST CENTURY: Appoints William Spalding to Board of Directors
22 FISKE PLACE: Ch.11 Trustee to Hold Auction on June 6
2654 HIGHWAY: Hires Investment Grade Loans as Manager, Accountant
A C MOBILE: Hires Omar as Certified Public Accountant
ADAMIS PHARMACEUTICALS: Incurs $6.41 Million Net Loss in Q1

AEROPOSTALE INC: GA, Tiger Capital to Facilitate Store Closures
ALEXZA PHARMACEUTICALS: Incurs $3.36 Million Net Loss in Q1
ALLEGHENY TECHNOLOGIES: S&P Lowers CCR to 'B', Outlook Negative
ALPHA NATURAL: U.S. Trustee Says McKinsey Disclosures Inadequate
AMBULATORY ENDOSCOPIC: Case Summary & 20 Top Unsecured Creditors

AMERICAN HERITAGE GLOBAL: U.S. Trustee Unable to Appoint Committee
AOG ENTERTAINMENT: Taps PricewaterhouseCoopers as Auditor
AOG ENTERTAINMENT: U.S. Trustee Forms 3-Member Committee
APPLIED MINERALS: Adopts 2016 Long Term Incentive Plan
APRICUS BIOSCIENCES: Fails to Comply with Nasdaq Rule

APX GROUP: Moody's Assigns B1 Rating on $350MM Sr. Sec. Notes
ARAMARK SERVICES: S&P Assigns BB- Rating on New Sr. Notes Due 2026
ATLANTIC CITY, NJ: Bondholders Expect Losses Even with Takeover
AUTHENTIDATE HOLDING: Delays Filing of March 31 Form 10-Q
AVAYA INC: Incurs $103 Million Net Loss in Second Quarter

BLUFF CITY SHEET: Case Summary & 20 Largest Unsecured Creditors
BREEDYK DAIRY: Case Summary & 16 Largest Unsecured Creditors
BREITBURN ENERGY: S&P Lowers CCR to 'D' on Bankr. Filing
BROOKLYN CENTER: Moody's Affirms Ba2 GO Rating, Outlook Positive
C&S GROUP: Moody's Raises CFR to Ba2, Outlook Remains Stable

CAESARS ENTERTAINMENT: Parent to Contribute $4B to Restructuring
CAMERON PARK: Case Summary & 20 Largest Unsecured Creditors
CAMPOSOL SA: To Pay Participation Fee to Bondholders in Exchange
CARDIOTHORACIC SURGERY: U.S. Trustee Unable to Appoint Committee
CATASYS INC: Incurs $4.29 Million Net Loss in First Quarter

CEC ENTERTAINMENT: Bank Debt Trades at 3% Off
CEETOP INC: Delays Filing of March 31 Form 10-Q
CENGAGE LEARNING: Moody's Assigns B2 CFR, Outlook Stable
CLUB ONE CASINO: Three-Day Trial Vacated
COLORADO TIRE: Court Converts Case to Ch. 7

COMBIMATRIX CORP: Acuta Capital Reports 3.6% Stake
CONNACHER OIL: To File for Creditor Protection in Canada
CONSOLIDATED MINERALS: S&P Lowers CCR to 'CC', Outlook Negative
CORE ENTERTAINMENT: Lines Up $30-Mil. Bankruptcy Loan
DANDRIT BIOTECH: Incurs $208,000 Net Loss in Third Quarter

DARIUS ENTERPRISES: $910K Sale of Chatsworth Property Okayed
DIAMOND OFFSHORE: Egan-Jones Cuts FC Sr. Unsecured Rating to BB
DIDI REAL ESTATE: U.S. Trustee Unable to Appoint Committee
DIFFERENTIAL BRANDS: Incurs $6.37 Million Net Loss in 1st Quarter
DOLPHIN DIGITAL: Files Amended Articles to Effect Reverse Split

DORAL DENTAL: U.S. Trustee Unable to Appoint Committee
DYNCORP INTERNATIONAL: Moody's Rates Planned 1st Lien Loan B1
ECOSPHERE TECHNOLOGIES: William Brisben Holds 33.5% Stake
EIRE MCNAB: U.S. Trustee Unable to Appoint Committee
ELDORADO GOLD: S&P Lowers CCR to 'BB-', Outlook Negative

EMERALD FALLS: Section 341 Meeting of Creditors Set for May 23
EMMAUS LIFE: Files Copy of Investor Presentation with SEC
ENDO PHARMACEUTICALS: Bank Debt Trades at 2% Off
ENERGY FUTURE: Hunt Drops Bid for Oncor
EP ENERGY: Moody's Lowers CFR to Caa1; Outlook Remains Negative

EXOTICA ACADEMY: Wants Exclusive Plan Filing Extended by 60 Days
FBM LEASING: U.S. Trustee Unable to Appoint Committee
FEDERAL IDENTIFICATION: Case Summary & 20 Top Unsecured Creditors
FIREBIRD ENTERPRISES: Hires Darling Milligan as Special Counsel
FIRST ONE HUNDRED: U.S. Trustee Unable to Appoint Committee

FORTESCUE METALS: Bank Debt Trades at 7% Off
FREEPORT-MORAN INC: Egan-Jones Cuts FC Sr. Unsec. Rating to B+
GLENN POOL: Moody's Lowers Rating on Sr. Secured Notes to B3
GRAND ABBACO DEVELOPMENT: U.S. Trustee Unable to Appoint Committee
GRASS VALLEY: Wants Exclusive Plan Filing Deadline Moved to Nov. 9

GREENVIEW BUILDERS: Case Summary & 20 Largest Unsecured Creditors
GRIFFON CORP: Moody's Affirms B1 CFR; Outlook Stable
HARVEST OPERATIONS: S&P Lowers LT CCR to 'CC', Outlook Negative
HAWK OIL FIELD: Case Summary & 20 Largest Unsecured Creditors
HECK INDUSTRIES: $237,000 Sale of Cement Trucks Approved

HESS CORP: Egan-Jones Lowers Sr. Unsecured Ratings to BB-
HILLSIDE OFFICE: Case Summary & 13 Unsecured Creditors
HILTON WORLDWIDE: Moody's Raises CFR to Ba2; Outlook Stable
HOLDER GROUP: Banks Object to Payment of Scherer, Trustee Fees
HUNGRY HORSE: Case Summary & 20 Largest Unsecured Creditors

IHEARTMEDIA INC: Texas Court Ruling May Postpone Day of Reckoning
IMAGEWARE SYSTEMS: Issues Financial Results for Q1 2016
J&E LAND: Pearce to Auction College Hills Plaza on May 31
J. CREW: Bank Debt Trades at 21% Off
JILL ACQUISITION: Moody's Retains B2 CFR on $85MM Loan Add-on

JO-LIN HEALTH: Case Summary & 20 Largest Unsecured Creditors
KEY ENERGY: S&P Lowers CCR to 'CCC-' on Weak Finc'l Measures
LAW OFFICES OF SUNILDA: U.S. Trustee Unable to Appoint Committee
LBJ HEALTHCARE: Hires Robert M. Aronson as Bankruptcy Counsel
LEARFIELD COMMUNICATIONS: Moody's Raises CFR to B2; Outlook Stable

LEHMAN BROTHERS: Brokerage Creditors in Line for Another $677-Mil.
LENDINGCLUB CORP: Receives Subpoena from Justice Department
LEXI DEVELOPMENT: Settles North Bay Claims for $3.5-Mil.
LIFE CARE: U.S. Trustee Unable to Appoint Committee
LIME ENERGY: Incurs $7.69 Million Net Loss in First Quarter

LINN ENERGY: NASDAQ Determines to Delist Units
LINN ENERGY: Removed from Alerian Small Cap MLP Index
LUVU BRANDS: Incurs $160,000 Net Loss in Third Quarter
MCK MILLENNIUM: Wants June 27 Deadline for Exclusive Plan Filing
MIAMI TEES: U.S. Trustee Unable to Appoint Committee

MLFTL INC: U.S. Trustee Unable to Appoint Committee
MM SHOWS: U.S. Trustee Unable to Appoint Committee
MONESSEN CITY, PA: Moody's Lowers GO Rating to Ba3; Outlook Neg
MOSS FAMILY: Court Approves Baden as Ch.11 Trustee's Accountants
MOUNT CLEMENS: Moody's Affirms Ba3 GOULT Debt Rating, Outlook Neg.

N KASAPMU: Taps Jason A. Burgess as General Counsel
NAT'L CERAMICS OF FLORIDA: US Trustee Unable to Appoint Committee
NCR CORP: Egan-Jones Cuts Sr. Unsecured Debt Ratings to B+
NEIMAN MARCUS: Bank Debt Trades at 7% Off
NEWPARK RESOURCES: Egan-Jones Cuts Sr. Unsec. Ratings to B-

NGPL PIPECO: Moody's Raises Rating to Ba3; Outlook Positive
NRAD MEDICAL: Court Extends Exclusive Plan Filing Period to July 5
OIL STATES INT'L: Egan-Jones Cuts FC Sr. Unsec. Rating to BB
OSHER AND OSHER: Court OKs Sale of Olympic Boulevard Property
PACIFIC EXPLORATION: Claims Bar Date Set for June 10

PACIFIC EXPLORATION: Moody's Affirms Then Withdraws 'C' CFR
PALOMAR HEALTH: Moody's Affirms Ba1 Rating on Revenue Bonds
PEABODY ENERGY: Moody's Assigns B1 Rating on $500MM DIP Term Loan
PEGGY ANN: Hires Brannen Firm as Bankruptcy Counsel
PENN VIRGINIA: Files Chapter 11 to Facilitate Restructuring

PENN VIRGINIA: Moody's Lowers PDR to D-PD on Bankr. Filing
PETROLEUM PRODUCTS: Hires Doeren Mayhew as Tax Accountants
PHOTOMEDEX INC: Incurs $4.87 Million Net Loss in First Quarter
PIONEER HEALTH: Wins Extension to File Statement and Schedules
POSTROCK ENERGY: Time to File Schedules of Assets Extended

PRIMORSK INTERNATIONAL: Exclusive Plan Filing Extended to Sept. 12
PRIMROSE LA SARA: BlakEnergy, et al., Want Trustee to Take Over
PURADYN FILTER: Incurs $415,000 Net Loss in First Quarter
QUANTUM MATERIALS: Incurs $752,000 Net Loss in Third Quarter
RAILYARD COMPANY: Creditor and Trustee Assent to Cash Coll. Use

RANGE RESOURCES: Moody's Affirms Ba3 CFR, Outlook Negative
REGIONAL GASTROINTESTINAL: Case Summary & 20 Top Unsec. Creditors
REPUBLIC AIRWAYS: Meeting of Creditors Held May 16
RESTORATION HOUSE: U.S. Trustee Unable to Appoint Committee
RIVERSIDE PLAZA: Hires Linberger as Appraiser

ROCKWELL MEDICAL: Reports First Quarter Results
ROSEVILLE SENIOR: Hires Walsh Pizzi as Trustee's Counsel
ROYALE BUILDERS: Court Extends Exclusive Plan Filing Until May 31
S & H OF WEST: U.S. Trustee Unable to Appoint Committee
SAMSON RESOURCES: Files New Debt-for-Equity Ch. 11 Plan

SANDRIDGE ENERGY: Moody's Lowers CFR to 'Ca' Over Chap. 11 Filing
SDI SOLUTIONS: Deadline to File Statements and Schedules Extended
SDI SOLUTIONS: Lists $21.9-Mil. in Assets, $22.2-Mil. in Debts
SDI SOLUTIONS: Opco Lists $0 Assets, $13.1-Mil. in Debts
SEACOR HOLDINGS: Egan-Jones Cuts Sr. Unsecured Ratings to B-

SFX ENTERTAINMENT: Committee Hires Van Benthem as Foreign Counsel
SKYUP LLC: U.S. Trustee Unable to Appoint Committee
SM ENERGY: Moody's Affirms B2 CFR & Changes Outlook to Stable
SO CAL INVESTMENTS: Hires Keller Williams as Real Estate Agent
SOUTH COAST OIL: U.S. Trustee Forms 3-Member Committee

SPANISH BROADCASTING: Incurs $11.3-Mil. Net Loss in 1st Quarter
SPORTS AUTHORITY: Liquidators Trio Wins Bankruptcy Auction
SPORTS AUTHORITY: Name Said to Go Unsold at Bankruptcy Auction
STONE ENERGY: Expects to Get Noncompliance Notice from NYSE
STONE ENERGY: Mulls Possible Prearranged Bankruptcy Filing

STONE ENERGY: Says Bankruptcy Filing a Possibility
TEXAS PELLETS: U.S. Trustee Forms 2-Member Committee
TIBCO SOFTWARE: Bank Debt Trades at 10% Off
TRANSPORTATION SPECIALIST: US Trustee Unable to Appoint Committee
TRIANGLE PETROLEUM: Unit Provides Restructuring Initiatives Update

TRONOX INC: Bank Debt Trades at 6% Off
UCI INTERNATIONAL: Moody's Withdraws 'C' Corporate Family Rating
US CONCRETE: Moody's Assigns B3 Rating on $350MM Sr. Notes
US FARATHANE: Moody's Retains B2 CFR on $80MM Loan Add-On
VALEANT PHARMACEUTICALS: Bank Debt Trades at 3% Off

VALEANT PHARMACEUTICALS: Inks Retention Agreements with Executives
VEREIT OPERATING: Moody's Assigns Ba1 Rating on Sr. Unsec. Notes
VICTORY ENERGY: Incurs $499,000 Net Loss in First Quarter
WAFERGEN BIO-SYSTEMS: Inks Merger Agreement with Takara Bio
WORLD GOSPEL: Case Summary & 6 Unsecured Creditors

Y&K SUN: Files for Chapter 11, Wants Trustee to Take Over
ZLOOP INC: Auction for Hickory Assets on June 13
[*] Railroads Face Pressure from Weak Coal Shipments, Moody's Says
[^] Recent Small-Dollar & Individual Chapter 11 Filings

                            *********

21ST CENTURY: Appoints William Spalding to Board of Directors
-------------------------------------------------------------
21st Century Oncology Holdings, Inc., announced that on May 12,
2016, the Board of Directors increased the size of the Board from
eight to nine members and appointed William R. Spalding as an
independent member of the Board, effective immediately.  The Board
also appointed Mr. Spalding to the Capital Allocation Committee.

Dr. Daniel Dosoretz, founder, president and chief executive
officer, commented, "We are pleased to add Mr. Spalding to our
Board of Directors.  His extensive expertise in operations,
finance, governance and legal matters will be an important asset to
our current board."

Mr. Spalding, age 57, served in a number of roles for PharmMEDium
Healthcare Holdings, Inc., including the chief executive officer
from January 2014 until November 2015.  He previously was a senior
partner at King and Spalding, LLP, where he led the Private Equity
& Investment Funds Practice and was a member of the firm’s
management committee.  Prior to that, Mr. Spalding also served as
executive vice president of CVS Caremark Corporation and Caremark
Rx, Inc. In addition, Mr. Spalding has served as a board member for
MedVantix Corporation, PharMEDium Healthcare Holdings, Inc.
SecureWorks Corp., and Carter Presidential Center Board of
Counselors.  Mr. Spalding has an A.B. from Dartmouth College and a
J.D. from Washington & Lee University School of Law.

On May 12, 2016, Mr. Spalding entered into an incentive unit grant
agreement with 21st Century Oncology Investments, LLC, the sole
stockholder of the Company.  Pursuant to the Incentive Agreement,
Mr. Spalding will receive 20,000 Class E Units of 21CI, which vest
equally over five years, subject to accelerated vesting upon a sale
of the Company during his service with the Company.  Under certain
conditions, 21CI has the right to repurchase all or a portion of
any vested Incentive Units.  If Mr. Spalding engages in a
prohibited activity, all of his Incentive Units shall be forfeited
immediately without consideration.  In addition, on
May 12, 2016, Mr. Spalding and the Company entered into a bonus
agreement, which provides that upon a sale of the Company during
his service with the Company, Mr. Spalding will receive a cash
bonus equal to 0.12% of the equity value of the Company upon such
sale, with such cash bonus not to exceed $252,600.

                       About 21st Century

21st Century Oncology, Inc., formerly known as Radiation Therapy
Services, Inc. ("RTS") owns and operates radiation treatment
facilities in the US and Latin America.

As of Sept. 30, 2015, the Company had $1.09 billion in total
assets, $1.33 billion in total liabilities, $370.47 million in
series A convertible redeemable preferred stock, $19.93 million in
noncontrolling interests and a total deficit of $623.11 million.

                            *     *     *

As reported by the TCR on Feb. 27, 2015, Moody's Investors Service
upgraded 21st Century Oncology, Inc.'s Corporate Family Rating and
Probability of Default Rating to B3 and B3-PD, respectively.
The upgrade of the Corporate Family Rating to B3 and SGL to SGL-2
reflects the receipt of a $325 million preferred equity investment
from the Canada Pension Plan Investment Board and subsequent debt
reduction.

In the April 16, 2015, edition of the TCR, Standard & Poor's
Ratings Services affirmed its 'B-' corporate credit rating on Fort
Myers-based cancer care provider 21st Century Oncology Holdings
Inc.


22 FISKE PLACE: Ch.11 Trustee to Hold Auction on June 6
-------------------------------------------------------
Ian J. Gazes, as chapter 11 trustee of the estate of 22 Fiske
Place, LLC, on May 16, 2016, won entry of an order approving
procedures in connection with the sale of real property located at
22 Fiske Place, Brooklyn, New York, to Fiske 22 LLC, subject to
higher and better offers.

The auction will take place on June 6, 2016 at 2:00 p.m. at the
U.S. Bankruptcy Court for the Southern District of New York, One
Bowling Green, New York.  If no qualified bids are submitted by the
bid deadline, the Trustee will not conduct an auction.  The sale
hearing to consider approval of the Trustee's entry into and
consummation of a transaction with a successful bidder will be held
on June 7, 2016 at 10:00 a.m.

The break-up fee of $75,000 payable at closing to Fiske 22, the
stalking horse, in the event Fiske 22 is not the successful bidder
was approved.

Counsel to Fiske 22 is:

         Cliff A. Katz, Esq.
         PLATZER, SWERGOLD, LEVINE, GOLDBERG, KATZ & JASLOW, LLP
         475 Park Avenue
         South New York, New York 10016

22 Fiske Place, LLC, sought Chapter 11 protection (Bankr. S.D.N.Y.
Case No. 15-11410) in Manhattan on May 28, 2015.  The case judge is
the Hon. Shelley C. Chapman.  Scott S. Markowitz, Esq., at Tarter
Krinsky & Drogin LLP, is the Debtor's counsel.  The Debtor
estimated assets and debt of $1 million to $10 million.


2654 HIGHWAY: Hires Investment Grade Loans as Manager, Accountant
-----------------------------------------------------------------
2654 Highway 169, LLC, asks for permission from the U.S. Bankruptcy
Court for the District of Kansas to employ Investment Grade Loans
Inc. as manager and accountant.

IGLI, a company owned by the primary shareholder of the Debtor,
will act as outside manager and accountant of the Chapter 11
bankruptcy estate.  IGLI will make all decisions on behalf of the
Debtor, coordinate all services provided to the Debtor, make all
reports required in this Chapter 11 case, including the monthly
operating
reports, perform all bookkeeping functions for the Debtor, prepare
all necessary tax filings for the Debtor, and otherwise perform all
required management and accounting functions for the Debtor.

IGLI will be paid $3,695 per month for its services.

Andrew Leiw, manager and owner of IGLI, assures the Court that the
company doesn't represent any interest adverse to the estate in the
for which it is to be employed, except that he is both an owner and
CEO of the company and hold the same positions in the Debtor, and
except that his associate Daniel Goncharoff is both CFO of the
Debtor and an officer of IGLI.

IGLI can be reached at:

      Investment Grade Loans Inc  
      289 S San Antonio Road
      Los Altos, CA 94022
      Tel: (650) 949-1334

                     About 2654 Highway 169

2654 Highway 169, LLC, commenced a case (Bankr. D. Kansas Case No.
16-10644) under Chapter 11 of the Bankruptcy Code on April 13,
2016.

The Debtor disclosed estimated assets of $10 million to $50 million
and estimated debts of $10 million to $50 million.  The petition
was signed by Andrew Lewis, managing member.

The case is assigned to Hon. Robert E. Nugent.

David P Eron, Esq., at Enron Law, P.A., serves as the Debtor's
bankruptcy counsel.


A C MOBILE: Hires Omar as Certified Public Accountant
-----------------------------------------------------
A C Mobile Inc., seeks authority from the U.S. Bankruptcy Court for
the Southern District of Texas to employ Omar Omar, CPA of Omar's
Financial Consultants, Inc. as certified public accountant to the
Debtor.

A C Mobile requires Omar to assimilate the data necessary to
prepare monthly sales and payroll bookkeeping, prepare and file
payroll tax returns, and any other business services directly
related to the bankruptcy proceedings.

The Debtor has already sought the advice of Omar with regard to
preparing monthly sales and payroll bookkeeping, preparing and
filing the payroll tax returns, and any other business services
directly related to these proceedings, and the records necessary to
complete the documents.

Omar will be paid at a monthly fee of $300.

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

Omar Omar, CPA of Omar's Financial Consultants, Inc., assured the
Court that the firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code and does not
represent any interest adverse to the Debtors and their estates.

Omar can be reached at:

     Omar Omar, CPA
     OMAR'S FINANCIAL CONSULTANTS, INC.
     2909 Hillcroft, Suite 325
     Houston, TX 77057

                      About A C Mobile

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

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

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


ADAMIS PHARMACEUTICALS: Incurs $6.41 Million Net Loss in Q1
-----------------------------------------------------------
Adamis Pharmaceuticals Corporation filed with the Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing a
net loss of $6.41 million on $0 of revenue for the three months
ended March 31, 2016, compared to a net loss of $3.14 million on $0
of revenue for the same period in 2014.

As of March 31, 2016, Adamis had $12.7 million in total assets,
$3.96 million in total liabilities and $8.69 million in total
stockholders' equity.

The Company's cash was $4.43 million and $4.08 million at March 31,
2016, and Dec. 31, 2015, respectively.

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

                     https://is.gd/LqbM8Y

                         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.

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.


AEROPOSTALE INC: GA, Tiger Capital to Facilitate Store Closures
---------------------------------------------------------------
A joint venture between Great American Group (GA) and Tiger Capital
Group on May 12 disclosed that it has partnered with Aeropostale,
Inc., a mall-based specialty retailer of casual apparel for young
women and men, to facilitate the orderly exit of 113 of its stores
and factory outlets across the U.S.  These are the same closures
announced on May 4, 2016, in conjunction with Aeropostale's
voluntary Chapter 11 filings.

As previously disclosed, sales at the 113 closing locations began
on May 7, 2016 and will last only until the respective stores'
merchandise and fixtures have been sold.  A list of the closing
Aeropostale locations in the U.S. is available at
https://brileyfin.leadpages.co/aeropostale-stores/
It continues to be business as usual at all other Aeropostale
locations.

Great American Group is a provider of advisory and valuation
services, asset disposition and auction solutions, and a subsidiary
of B. Riley Financial, Inc.

Tiger Capital Group provides comprehensive valuations, disposition
services, capital infusions, and operational expertise to companies
in times of growth, distress or transition.

"Our deep history of working with specialty apparel retailers such
as Aeropostale has given us the experience to quickly and
efficiently exit these locations, and assist Aeropostale in
optimizing its store footprint," said Scott Carpenter, President of
GA's Retail Solutions division.

"This is a rare opportunity for customers to take advantage of
significant savings on some of their favorite apparel and
accessories," stated Michael McGrail, Chief Operating Officer of
Tiger Capital Group.  "Following this sale process, Aeropostale
shoppers will still find their favorite fashions at over 600
ongoing Aeropostale stores nationwide and at Aeropostale.com."

                      About Aeropostale, Inc.

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

Aeropostale, Inc. and 10 of its affiliates each filed a voluntary
petition under Chapter 11 of the Bankruptcy Code (Bankr. S.D.N.Y.
Lead Case No. 16-11275) on May 4, 2016.  The petitions were signed
by Marc G. Schuback as senior vice president, general counsel and
secretary.

The Debtors listed total assets of $354.38 million and total debts
of $390.02 million as of Jan. 30, 2016.

The Debtors have hired Weil, Gotshal & Manges LLP as counsel; FTI
Consulting, Inc. as restructuring advisor; Stifel, Nicolaus &
Company, Inc. and Miller Buckfire & Company LLC as investment
bankers; RCS Real Estate Advisors as real estate advisors;  Prime
Clerk LLC as claims and noticing agent; Stikeman Elliot LLP as
Canadian counsel; and Togut, Segal & Segal LLP as conflicts
counsel.

Judge Sean H. Lane is assigned to the cases.


ALEXZA PHARMACEUTICALS: Incurs $3.36 Million Net Loss in Q1
-----------------------------------------------------------
Alexza Pharmaceuticals, Inc., filed with the Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing a
net loss of $3.36 million on $720,000 of total revenues for the
three months ended March 31, 2016, compared to a net loss of
$404,000 on $705,000 of total revenues for the same period in
2015.

As of March 31, 2016, Alexza had $10.6 million in total assets,
$84.9 million in total liabilities and a total stockholders'
deficit of $74.3 million.

"Since inception, we have financed our operations primarily through
private placements and public offerings of equity securities, debt
financings, revenues primarily from licensing agreements and
government grants, and payments from Allegro.  We have received
additional funding from interest earned on investments, as
described below, and funds received upon exercises of stock options
and exercises of purchase rights under our previous employee stock
purchase plan and our 2015 Employee Stock Purchase Plan, or the
2015 ESPP.  As of March 31, 2016, we had $4.5 million in cash and
cash equivalents and we had no marketable securities. Our cash and
cash equivalents balances are held in money market accounts,
investment grade commercial paper and government-backed securities.
Cash in excess of immediate requirements is invested with regard
to liquidity, capital preservation and yield.

"We believe that with current cash and cash equivalent balances,
the additional $2.3 million drawn in April and May 2016 under the
Ferrer Note and our current expected cash usage, we have sufficient
capital resources to meet our anticipated cash needs, at our
expected cost levels until the end of June 2016.  Changing
circumstances may cause us to consume capital significantly faster
or slower than we currently anticipate or to alter our operations.
We have based these estimates on assumptions that may prove to be
wrong, and we could utilize our available financial resources
sooner than we currently expect."

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

                      https://is.gd/g4FYpk

               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.  

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.


ALLEGHENY TECHNOLOGIES: S&P Lowers CCR to 'B', Outlook Negative
---------------------------------------------------------------
S&P Global Ratings said that it has lowered its corporate credit
rating on Pittsburgh-based Allegheny Technologies Inc. to 'B' from
'B+'.  The outlook is negative.

At the same time, S&P lowered its issue-level ratings on the
company's senior unsecured debt to 'B' from 'B+'.  The recovery
rating on the unsecured notes remains '3'.  S&P also raised its
issue-level rating on the senior unsecured debt of ATI's
subsidiary, Allegheny Ludlum, to 'BB-' from 'B+'.  S&P also revised
the recovery rating on these unsecured notes to '1' from '3'.

"The downgrade is due to our view that the company's business risk
profile has deteriorated to fair from satisfactory," said S&P
Global credit analyst William Ferara.  "ATI's less specialized
flat-rolled stainless steel products are facing increasing
competition, especially from lower-priced imports, which is pushing
down market prices and operating margins and leading to overall
pressure on the company's business risk profile."  ATI can pass
through (with a time lag) some costs of raw materials, but its
prices are restrained by the bargaining power of its large
customers and competitive pressures, which have been intensified by
weaker demand conditions.  The company continues to benefit from
several long-term agreements with strategic aerospace customers it
entered into and that support long-term revenue growth and help
support the business risk profile.  S&P believes the company's
technical capabilities give it competitive advantages for a wide
range of high-value-added specialty metals, such as titanium
castings for jet engines.  ATI maintains good end markets and
geographical diversification, offset by its fairly
capital-intensive nature and exposure to highly competitive pricing
and volatile raw material costs.

The negative outlook reflects the risk that continued weakness in
the company's credit metrics and liquidity position over the next
12 months, as well as its business risk profile, could lead to a
lower rating.  A weak pricing environment and deteriorating demand
trends are pressuring ATI; however, cost reduction efforts and
additional long-term agreements in the aerospace segment are
helping to somewhat offset these challenges in 2016.  S&P expects
debt to EBITDA of slightly above 10x and EBITDA interest coverage
of roughly 1x-1.5x in 2016.

S&P could lower the rating if the company's business risk profile
deteriorates to weak from fair or we expect debt to EBITDA will be
sustained notably above 8x and EBITDA interest coverage below 1.5x
throughout 2016 and 2017.  This could occur if shipments to ATI's
key aerospace, energy, or other markets continue to weaken,
competitive pressures further erode prices and margins, or it does
not achieve targeted cost reductions.  S&P could also lower the
rating if the company's liquidity profile was to meaningfully
deteriorate and S&P assessed its liquidity profile as less than
adequate.

S&P could revise the outlook to stable if ATI is able to improve
its operating and financial performance and S&P believes the
improvement will be sustained.  Specifically, S&P would expect
improved market conditions and for debt to EBITDA to be notably
less than 8x, with EBITDA interest coverage of above 2x in 2016.
S&P views this scenario to be less likely over the next year given
its expectation for continued pricing pressure and challenging
demand conditions in this timeframe.  S&P does not view an upgrade
as likely in the next 12 months given market conditions and
stainless steel price expectations.


ALPHA NATURAL: U.S. Trustee Says McKinsey Disclosures Inadequate
----------------------------------------------------------------
Tom Corrigan and Jacqueline Palank, writing for The Wall Street
Journal, reported that McKinsey & Co.'s role as confidential
adviser to the world's most influential companies is complicating
its effort to win lucrative work with some of the most troubled.

According to the report, the Justice Department recently objected
to bids by McKinsey's restructuring arm -- Recovery &
Transformation Services -- to work on the chapter 11 cases of
coal-mining firm Alpha Natural Resources Inc. and solar-project
developer SunEdison Inc.  The problem: McKinsey isn't naming
clients on its long list of business relationships that might
create conflicts of interest, the report pointed out.

Disclosure is a sensitive issue in the restructuring business,
where McKinsey works with troubled businesses to overhaul their
operations and to slash their debts, but the company says it has a
"long-standing policy" to protect clients' confidential
information, the report related.

McKinsey said in court filings it isn't aware of any conflicts of
interest, but that it may have worked, or currently works, with the
bankrupt companies' creditors, lenders, shareholders or others
involved in the cases, all of whom could potentially have interests
that are adverse to the companies now seeking the firm's guidance,
the report further related.

                  About Alpha Natural Resources

Headquartered in Bristol, Virginia, Alpha Natural --
http://www.alphanr.com-- is a coal supplier, ranked second largest

among publicly traded U.S. coal producers as measured by 2014
consolidated revenues of $4.3 billion.  As of August 2015, Alpha
had 8,000 full time employees across many different states, with
UMWA representing 1,000 of the employees.

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

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

Judge Kevin R. Huennekens presides over the cases.

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

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

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

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

                            *     *     *

Alpha Natural Resources, Inc. on March 8 disclosed that it has
filed a proposed Chapter 11 Plan of Reorganization and a related
Disclosure Statement with the United States Bankruptcy Court for
the Eastern District of Virginia.  Together with the motion seeking
approval of a marketing process for Alpha's core operating assets,
these filings provide for the sale of Alpha's assets, detail a path
toward the resolution of all creditor claims, and anticipate the
emergence of a streamlined and sustainable reorganized company able
to satisfy its environmental obligations on an ongoing basis.

By selling certain assets as a going concern and restructuring the
company's remaining assets into a reorganized Alpha, the company is
able to provide maximum recovery to its creditors, while preserving
jobs and putting itself in the best position to meet its
reclamation obligations.  This path will allow for a conclusion of
Alpha's bankruptcy proceedings by June 30, 2016.


AMBULATORY ENDOSCOPIC: Case Summary & 20 Top Unsecured Creditors
----------------------------------------------------------------
Debtor: Ambulatory Endoscopic Surgical Center of Bucks County, LLC
        301 Oxford Valley Road, Suite 805
        Yardley, PA 19067

Case No.: 16-13517

Nature of Business: Health Care

Chapter 11 Petition Date: May 17, 2016

Court: United States Bankruptcy Court
       Eastern District of Pennsylvania (Philadelphia)

Judge: Hon. Eric L. Frank

Debtor's Counsel: Jeffrey S. Cianciulli, Esq.
                  WEIR & PARTNERS LLP
                  1339 Chestnut Street, Suite 500
                  Philadelphia, PA 19107
                  Tel: (215) 665-8181
                  E-mail: jcianciulli@weirpartners.com

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

Estimated Liabilities: $1 million to $10 million

The petition was signed by Andrew T. Fanelli, sole member.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/paeb16-13517.pdf


AMERICAN HERITAGE GLOBAL: 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 American Heritage Global Energy, LLC.  

American Heritage Global Energy, LLC sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Case No.
16-13429) on March 10, 2016.  The Debtor is represented by Brian K.
McMahon, Esq.


AOG ENTERTAINMENT: Taps PricewaterhouseCoopers as Auditor
---------------------------------------------------------
AOG Entertainment, Inc., et al., seek permission from the U.S.
Bankruptcy Court for the Southern District of New York to employ
PricewaterhouseCoopers LLP as independent auditor and tax
consultant, nunc pro tunc to the date of commencement of these
Chapter 11 cases.

A hearing on the motion is set for June 2, 2016, at 10:30 a.m.
(Eastern time).  Objections to the hiring must be filed by May 26,
2016, at 4:00 p.m. (Eastern time).

PwC will provide these audit services:

      (a) auditing the consolidated financial statements of the
          Debtors at Dec. 31, 2015, and for the year then ending,
          and providing the Debtors with an audit report related
          to those financial statements;

      (b) communicating with the audit committee and management
          about any matters that PwC believes may require material

          modifications to the quarterly financial information to
          make it conform with accounting principles generally
          accepted in the United States or statutory reporting
          requirements in the United Kingdom;

      (c) examining evidence supporting the amounts and
          disclosures in the financial statements, assessing
          accounting principles used and significant estimates
          made by management and evaluating the overall financial
          statement presentation; and

      (d) considering the Debtors' internal control over financial

          reporting solely for the purposes of determining the
          nature, timing and extent of auditing procedures
          necessary for PwC to express their opinion on the
          financial statements.

PwC will provide these tax consulting services:

      (a) considering the U.S. tax consequences of the Debtors'
          anticipated restructuring of their existing debt
          obligations, which will cover various work streams,
          including, but not limited to, research, modeling and
          related advice on the estimated impact of restructuring;

      (b) assisting with tax basis calculations as requested; and

      (c) coordinating around United Kingdom tax considerations.

Subject to court approval, and in compliance with the U.S. Trustee
Fee Guidelines, the applicable provisions of the Bankruptcy Code,
the Bankruptcy Rules, the Local Bankruptcy Rules and any applicable
orders of the Court, the Debtors will compensate PwC in accordance
with the terms and conditions of the Engagement Letters.  Prior to
the Petition Date, the Debtors also provided PwC a retainer in the
amount of $250,000.  As of the date hereof, approximately $175,000
of the retainer is held by PwC.  Fees and expenses incurred
postpetition will first be applied against the retainer until it is
exhausted, and then PwC will invoice the Debtors on a regular
basis.  

PwC will charge the Debtors as follows for postpetition services:

      (a) Audit Services

         (i) Assurance Auditing

             Partner           $600-$740
             Senior Manager    $330-$450
             Manager           $270-$320
             Senior Associate  $180-$230
             Associate         $130-$160

        (ii) Tax Auditing

             Partner           $600-$780
             Manager           $370-$395
             Senior Associate  $220-$250
             Associate         $160-$180

      (b) Tax Consulting Services

             Partner             $742
             Director            $634
             Manager             $540
             Senior Associate    $410
             Associate           $312

      (c) 2011 UK Audit Services

             Partner        $1,050-$1,262
             Director             $886
            Senior Manager    $620-$912

Prior to any increases in PwC's hourly rates, PwC will file a
supplemental declaration with the Court and provide 10 business
days' notice to the Debtors, the U.S. Trustee and any statutory
committee appointed in these cases.  The supplemental declaration
will explain the basis for the requested rate increases and state
whether the Debtors have consented to the rate increase.  The U.S.
Trustee retains all rights to object to any rate increase on all
grounds including, but not limited to, the reasonableness standard
provided for in section 330 of the Bankruptcy Code, and the Court
retains the right to review any rate increase pursuant to Section
330 of the Bankruptcy Code.

Rob Glasgow, a partner at PwC, assures the Court that the company
is a disinterested person as that term is defined in Section
101(14) of the Bankruptcy Code, as modified by Section 1107(b) of
the Bankruptcy Code, in that PwC: (a) is not a creditor, an equity
security holder, or an insider of the Debtors; (b) is not and was
not, within two years before the date of the filing of these
Chapter 11 cases, a director, officer or employee of the Debtors;
and (c) does not have an interest materially adverse to the
interest of the Debtors' estates 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 Debtors or
for any other reason.

PwC can be reached at:

          PricewaterhouseCoopers LLP
          300 Madison Avenue
          New York, NY 10017
          Tel: (646) 471-3000
          Fax: (646) 471-8320
          Website: www.pwc.com/us

                     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.


AOG ENTERTAINMENT: U.S. Trustee Forms 3-Member Committee
--------------------------------------------------------
The U.S. trustee for Region 2 on May 17 appointed three creditors
of AOG Entertainment, Inc., and its affiliates to serve on the
official committee of unsecured creditors.

The committee members are:

     (1) Marc Graboff
         1225 Corsica Drive
         Pacific Palisades, CA 90272
         Telephone: (323) 240-0610

     (2) Sony Music Entertainment
         301 Route 17 North Rutherford, NJ 07070
         Attention: Susan S. Danz
         V.P. Credit & Collections
         Telephone: (201) 777-3643

     (3) Fremantle Media Group Ltd.
         c/o Fremantle Media N. America, Inc.
         2900 W. Alameda Avenue, 8th Floor
         Burbank, CA 91505
         Attention: Suzanne S. Lopez
         EVP, Business and Legal Affairs
         Telephone: (818) 748-1196

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 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.


APPLIED MINERALS: Adopts 2016 Long Term Incentive Plan
------------------------------------------------------
The Board of Directors of Applied Minerals, Inc., has adopted the
2016 Long Term Incentive Plan, effective as of May 11, 2016.  The
Plan, administered by the Compensation Committee of the Board
allows for the following types of incentive awards: stock options,
stock appreciation rights, restricted stock, performance shares,
performance units or other stock-based award.  Those awards may be
issued to employees, consultants and non-employee directors.  The
aggregate number of shares of common stock that may be issued or
used for reference purposes with respect to which awards may be
granted under the Plan will not exceed two million.

The Compensation Committee awarded stock options to acquire 321,123
shares to Mr. Zeitoun, chief executive officer, and stock options
to acquire 248,344 shares to each of Messrs. Carney, chief
financial officer, and Gleeson, general counsel and.  Those grants
were pursuant to 2015 compensation arrangements.  All options were
five-year options with an exercise price of $.24.

                      About Applied Minerals

New York City-based Applied Minerals, Inc. (OTC BB: AMNL) is a
leading global producer of halloysite clay used in the development
of advanced polymer, catalytic, environmental remediation, and
controlled release applications.  The Company operates the Dragon
Mine located in Juab County, Utah, the only commercial source of
halloysite clay in the western hemisphere.  Halloysite is an
aluminosilicate clay that forms naturally occurring nanotubes.

Applied Minerals reported a net loss of $10.3 million in 2014, a
net loss of $13.06 million in 2013 and a net loss of $9.73 million
in 2012.  As of Dec. 31, 2014, the Company had $18.5 million in
total assets, $26 million in total liabilities, and a $7.51 million
total stockholders' deficit.


APRICUS BIOSCIENCES: Fails to Comply with Nasdaq Rule
-----------------------------------------------------
Apricus Biosciences, Inc., disclosed in a regulatory filing with
the Securities and Exchange Commission that it received on May 10,
2016, a deficiency letter from Nasdaq Staff indicating that, for
the last 30 consecutive business days, the bid price for the
Company's common stock had closed below the minimum $1.00 per share
requirement for continued listing on The Nasdaq Capital Market
under Nasdaq Listing Rule 5550(a)(2).  

In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company
has been provided an initial period of 180 calendar days, or until
Nov. 7, 2016, to regain compliance.  The letter states that the
Nasdaq staff will provide written notification that the Company has
achieved compliance with Rule 5550(a)(2) if at any time before Nov.
7, 2016, the bid price of the Company's common stock closes at
$1.00 per share or more for a minimum of ten consecutive business
days.  The Nasdaq Staff Deficiency letter has no immediate effect
on the listing or trading of the Company's common stock and the
common stock will continue to trade on The Nasdaq Capital Market
under the symbol "APRI."

The Company intends to monitor the bid price of its common stock
and consider available options if its common stock does not trade
at a level likely to result in the Company regaining compliance
with Nasdaq's minimum bid price rule by Nov. 7, 2016.

If the Company does not regain compliance with Rule 5550(a)(2) by
Nov. 7, 2016, the Company may be eligible for an additional 180
calendar day compliance period.  To qualify, the Company would be
required to meet the continued listing requirement for market value
of publicly held shares and all other initial listing standards for
The Nasdaq Capital Market, with the exception of the bid price
requirement, and would need to provide written notice of its
intention to cure the deficiency during the second compliance
period, by effecting a reverse stock split, if necessary.  However,
if it appears to the Nasdaq Staff that the Company will not be able
to cure the deficiency, or if the Company is otherwise not
eligible, Nasdaq would notify the Company that its securities would
be subject to delisting.  In the event of such a notification, the
Company may appeal the Staff's determination to delist its
securities, but there can be no assurance the Staff would grant the
Company's request for continued listing.

                     About Apricus Biosciences

Apricus Biosciences, Inc., is a Nevada corporation that was
initially formed in 1987.  The Company has operated in the
pharmaceutical industry since 1995.  The Company's current focus is
on the development and commercialization of innovative products and
product candidates in the areas of urology and rheumatology. The
Company's proprietary drug delivery technology is a permeation
enhancer called NexACT.

Apricus reported a net loss of $19.02 million in 2015, a net loss
of $21.78 million in 2014 and a net loss of $16.93 million in
2013.

As of March 31, 2016, Apricus had $10.4 million in total assets,
$17.3 million in total liabilities, and a total stockholders'
deficit of $6.84 million.

BDO USA, LLP, in La Jolla, California, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2015, citing that the Company has negative working
capital and has suffered recurring losses and negative cash flows
from operations that raise substantial doubt about its ability to
continue as a going concern.


APX GROUP: Moody's Assigns B1 Rating on $350MM Sr. Sec. Notes
-------------------------------------------------------------
Moody's Investors Service assigned a B1 rating to APX Group, Inc.'s
(dba "Vivint") new, $350 million senior secured note issuance,
downgraded its existing, $925 million senior secured notes due 2019
to B1, from Ba3, and affirmed the Caa1 ratings on its $930 million
of senior unsecured notes due 2020.  Moody's also affirmed the
company's B2 Corporate Family Rating, its B2-PD Probability of
Default rating, and its SGL-3 Speculative Grade Liquidity rating.
Proceeds from the new notes will be used for general corporate
purposes, which may include supporting Vivint's summer sales
program and paying down existing debt, among other possible
applications.  The outlook remains stable.

Issuer: APX Group, Inc.

Downgrades:

  Senior Secured Regular Bond/Debentures, Downgraded to B1 (LGD3)
   from Ba3 (LGD3)

Assignments:

  Senior Secured Regular Bond/Debenture, Assigned B1 (LGD3)

Affirmations:

  Corporate Family Rating, Affirmed B2
  Probability of Default Rating, Affirmed B2-PD
  Speculative Grade Liquidity Rating, Affirmed SGL-3
  Senior Unsecured Regular Bond/Debenture, Affirmed Caa1 (LGD5)

Outlook Actions:

  Outlook, Remains Stable

                         RATINGS RATIONALE

In its April 2016, affirmation of Vivint's existing corporate and
facility ratings, Moody's took into account the likelihood of a
substantial debt raise later this year in order to support the
company's summer sales program and other corporate purposes.
However, Moody's also acknowledged that, given the amount of
secured debt relative to unsecured in Vivint's capital structure,
the secured debt's Ba3 facility rating was weakly positioned, such
that only a minimal amount of additional secured-debt issuance
could lead to a downgrade of that debt's facility rating since it
would reduce the ratings "cushion" provided by proportionately less
unsecured debt.  Hence, this most recent debt capital raise has
resulted in a one-notch downgrade of the secured debt class to B1,
closer to the CFR.

The affirmed, Caa1 (LGD5) rating, two notches below the CFR, on the
$930 million of notes due 2020 reflects their junior, unsecured
position in the capital structure behind a significant amount of
secured debt.  In the event of default, the proceeds of collateral
would be allocated first to repay the revolver and then, if any
proceeds from the collateral remain, to repay the senior secured
notes.  The notes are guaranteed by the direct parent holdings
company and by each existing and future domestic subsidiary of APX
Group, Inc.

Vivint is rather weakly positioned in the B2 ratings category
because of its persistently high leverage levels relative to its
alarm-monitor competitors, due largely to its ongoing reliance on
revolver and capital markets borrowings to support heavy
expenditures for new subscriber growth.  While revenue, recurring
monthly revenue ("RMR"), and subscriber growth have all been strong
and consistent, the cost of achieving that growth, in the face of
attrition rates of about 12%, has kept debt-to-RMR leverage
(including Moody's standard adjustments, which assume roughly $100
million of capitalized operating leases) at around 40 times, at the
high end for a B2-rated alarm monitoring company.

Ratings are supported by the highly predictable revenue streams
that monitoring contracts provide, and by expectations for adequate
liquidity despite growth-related cash flow shortfalls.
Additionally, the company was able to improve, albeit modestly,
both account attrition and creation multiples in 2015 relative to
2014.  RMR growth has been strong -- in the first quarter of 2016
it was up 17% over the prior-year quarter, to $56.3 million -- due
in part to strong, 81% adoption rates of its Smart Home products,
which generate clear industry-leading average RMR-per-subscriber
metrics (particularly among new subscribers), and typically lower
attrition rates.

The SGL-3 rating reflects an adequate liquidity profile supported
by the expectation for significant availability under the $289
million revolver over the next year and solid headroom under
financial covenants.  Moody's expects Vivint will use a portion of
the proceeds from the $350 million debt raise as well as the
recently announced $100 million equity infusion from technology
investor Peter Thiel and investment firm Solamere Capital to the
support the acquisition of new customers.  Vivint has generated
sharply negative free cash flow from operations over the last few
years due to acquisition costs to generate subscriber growth.

The stable outlook reflects Moody's expectation that Vivint will
continue to generate double-digit-percentage RMR growth over the
next year while maintaining an adequate liquidity profile.  While
not expected in the near term, the ratings could be upgraded if
Vivint sustains debt / RMR in the low-30-times, and free cash flow
(before growth spending) to debt in the high-single digit
percentages, while maintaining a good liquidity profile with pool
attrition rates at or below industry averages.  The ratings could
be downgraded if: i) free cash flow (before growth spending) as a
percentage of debt falls below 5% for a prolonged period; ii) debt
/ RMR is sustained above the low 40-times; iii) RMR fails to grow
at a rate equivalent to recent historic rates, or; iv) attrition
rates are expected to remain above 13%.

APX Group, Inc. (dba "Vivint") provides alarm monitoring and home
automation services to just over one million residential
subscribers in North America.  Moody's expects 2016 sales of
roughly $750 million, making it the second-largest provider of home
security and automation services, behind the combined P1/ADT. As
the result of a late 2012 acquisition, Vivint is majority-owned by
The Blackstone Group, while its management team has maintained a
meaningful ownership stake.

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


ARAMARK SERVICES: S&P Assigns BB- Rating on New Sr. Notes Due 2026
------------------------------------------------------------------
S&P Global Ratings assigned its 'BB-' issue rating to
Philadelphia–based Aramark Services Inc.'s proposed senior
unsecured notes due 2026, with a '5' recovery rating, indicating
S&P's view that creditors could expect recovery in the lower half
of the 10% to 30% range in the event of a payment default.  The new
notes and a proposed add-on to the existing unsecured notes are
part of the company's proposed $1 billion issuance, the allocation
for which is yet to be determined.  S&P's 'BB-' issue and '5'
recovery rating on the existing senior unsecured notes due 2024 are
unchanged by the add-on.  S&P expects the company will use the net
proceeds from the proposed issuance to repay a portion of the $1
billion 5.75% senior notes due 2020 and the remainder to repay
borrowings under the term loan due 2019.  S&P's ratings assume the
transaction closes on substantially the terms provided to S&P.
Debt outstanding pro forma for the proposed transaction is about
$5.4 billion.

All of S&P's existing ratings on the company, including S&P's 'BB'
corporate credit rating, 'BBB-' senior secured debt ratings, and
'BB-' senior unsecured note ratings, are unchanged by the
transaction.  The outlook is stable.

"Our ratings on Aramark incorporate the company's leading (though
not dominant) position in the competitive and fragmented food and
support services market, and its sizable business with customers in
relatively stable service segments (heath care, education, and
corrections), which we believe translates into consistent
profitability.  Our ratings also incorporate Aramark's high client
retention rates and moderate geographic diversity.  We believe the
company has a generally good reputation as an efficient operator
and could benefit from potential industry wide growth in
outsourcing.  We forecast debt to EBITDA will be about 3.5x-4.0x
and funds from operations to debt about 18%-21% over the next few
years," S&P said.

RATINGS LIST

Aramark Services Inc.
Corporate credit rating                BB/Stable/--

New Rating

Aramark Services Inc.
Senior unsecured
  Notes due 2026                        BB-
   Recovery rating                      5L

Ratings unchanged

Aramark Services Inc.
Senior unsecured
  Notes due 2024                        BB-
   Recovery rating                      5L


ATLANTIC CITY, NJ: Bondholders Expect Losses Even with Takeover
---------------------------------------------------------------
Romy Varghese and Terrence Dopp, writing for Bloomberg News,
reported that even if New Jersey lawmakers strike a deal on how to
rescue Atlantic City, bondholders shouldn't rest easy.

According to the report, leaders of the state's legislative
chambers said on May 16 they were working on a bill that would
reconcile competing approaches to fix Atlantic City.  State and
city officials have been fighting for weeks over the level of state
control and whether the municipality could enact deeper spending
cuts that could mean new labor contracts for workers, the report
related.

State intervention wouldn't necessarily prevent creditors from
being saddled with losses, said Jim Colby, who runs the $1.9
billion Market Vectors High Yield Municipal Index exchange-traded
fund at Van Eck Global, the report further related.  Colby pointed
to Detroit, which was in the hands of a state-appointed emergency
manager who led it into a record bankruptcy resolved in part
through a debt restructuring, the report said.

"We've seen situations around the country where support is given,
but there are conditions aimed at restructuring," the report
further cited Colby, whose fund holds some uninsured Atlantic City
debt.  "I'm not overly pessimistic, but I'm not optimistic."

                   *     *     *

The Troubled Company Reporter, on May 9, 2016, reported that S&P
Global Ratings has lowered its rating on Atlantic City, N.J.'s
general obligation (GO) debt to 'CC' from 'CCC-'.  The outlook is
negative.  The rating action resolves the CreditWatch Developing
that we placed on the rating on Jan. 22, 2016.

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

The TCR, on April 6, 2016, reported that Moody's Investors Service
has downgraded the City of Atlantic City, NJ's General Obligation
rating to Caa3 from Caa1 and removes the rating from review for
possible downgrade started on Jan. 29, 2016, affecting $16 million
of $345 million in general obligation bonds outstanding.  The
outlook is negative.

The downgrade to Caa3 reflects the greater likelihood of default
within the next year and higher probability of significant
bondholder impairment given an ongoing political stalemate over an
Atlantic City fiscal rescue package.  The downgrade also
incorporates renewed signals from the state that bondholders will
face losses as part of a possible debt restructuring.  The Caa3
rating indicates an expected loss to bondholders of up to 35% of
principal, in light of the city's very large structural deficit
with limited sources of relief without state assistance.

The TCR on March 11, 2016, reported that Moody's Investors Service
has released a scenario analysis of possible outcomes for Atlantic
City, NJ (Caa1 review for downgrade) as the New Jersey (A2
negative) legislature considers rescue legislation and greater
influence in placing it on the path to
fiscal recovery.

"Without drastic action, Atlantic City could face a default as
early as April or May. The city also owes $190 million to casinos
that successfully appealed their property taxes. Factoring in these
liabilities, we project a budget deficit of $102 million in fiscal
2016, ending December 31," Josellyn Yousef, a Moody's VP -- Senior
Analyst says in "Atlantic City, NJ: Rescue Legislation Key to
Fiscal Recovery."

The TCR, on Feb. 3, 2016, reported that Moody's Investors Service
has placed the City of Atlantic City, NJ Caa1 GO rating under
review for possible downgrade.  The review for downgrade will
consider the adequacy of proposed legislative budget solutions and
the likelihood of municipal debt restructuring with bondholder
impairment.  Within the next two months, Moody's expects the state
legislature to develop a plan that will specify the powers to be
granted to the New Jersey Local Finance Board to implement budget
improvements and restructure municipal debt.  The probability of
bondholder impairment is likely low if budget solutions are
adequate and/or state financial support is high, but could rise if
they are not, which would lead to a revision of the rating
downward.  A specific indication that bondholders would be included
in adverse debt restructuring could also lead to a rating
downgrade.  Beyond the rating review time horizon, outstanding tax
appeal refunds could pose a risk to bondholder security even if
adequate budget measures are achieved.

The TCR, on Feb. 1, 2016, reported that Standard & Poor's Ratings
Services has lowered its underlying rating on Atlantic City Board
of Education, N.J.'s existing general obligation (GO) bonds to
'BB-' from 'BBB-'.  At the same time, S&P removed the rating from
CreditWatch negative.  The outlook is negative.

At the same time, S&P affirmed its 'A' school program rating.  The
outlook on the program rating is stable.


AUTHENTIDATE HOLDING: Delays Filing of March 31 Form 10-Q
---------------------------------------------------------
Authentidate Holding Corp. filed with the U.S. Securities and
Exchange Commission a Notification of Late Filing on Form 12b-25
with respect to its quarterly report on Form 10-Q for the quarter
ended March 31, 2016.  The principal reason for the delay was the
AEON Acquisition, which, among other things, resulted in a complete
change in the management of the Company.  
     
As previously reported, on Jan. 27, 2016, Peachstate Health
Management LLC, d/b/a AEON Clinical Laboratories was merged into a
newly formed acquisition subsidiary of Authentidate Holding Corp.,
pursuant to a definitive Agreement and Plan of Merger dated
Nov. 18, 2015, as Amended and Restated on Jan. 26, 2016.  Effective
as of the closing of the AEON Acquisition, (i) Mr. Sonny Roshan,
the current Chairman of AEON, was appointed the Chairman of the
Company, which is an executive officer position at the Company,
(ii) Mr. Richard Hersperger, the current chief executive officer of
AEON, assumed the role of chief executive officer of the Company
and (iii) the Company's then Chief Executive Officer, Ian C.
Bonnet, resigned.  

Additionally, pursuant to the terms of the Merger Agreement,
effective with the closing of the AEON Acquisition, Mr. William A.
Marshall agreed to tender his resignation as chief financial
officer, treasurer and principal accounting officer of the Company.
As the Company and Mr. Marshall did not further extend the term of
his employment, Mr. Marshall's resignation as the chief financial
officer, treasurer and principal accounting officer of the Company
became effective on March 1, 2016.  On March 3, 2016, the Company
appointed Thomas P. Leahey its new interim chief financial
officer.

Although the Company was the surviving legal entity in the AEON
Acquisition, the transaction is accounted for as a reverse merger
with AEON deemed as the accounting acquirer.  Consequently, AEON's
historical results will be carried forward and AEON's operations
will be included in the financial statements commencing on the
effective date of the AEON Acquisition.  Accordingly, the Company
expects that the amounts of revenue, assets, liabilities and
shareholder’s equity for the quarter ended March 31, 2016, will
differ significantly from the results of operations reported in its
Quarterly Report on Form 10-Q for the quarter ended March 31, 2015.
The Company is unable to provide an accurate quantitative estimate
of the results for the quarters ended March 31, 2016 and 2015, as
it has not yet completed the information necessary to provide such
an estimate.

                      About Authentidate

Authentidate Holding Corp. and its subsidiaries provide secure
web-based revenue cycle management applications and telehealth
products and services that enable healthcare organizations to
increase revenues, improve productivity, reduce costs, coordinate
care for patients and enhance related administrative and clinical
workflows and compliance with regulatory requirements.  The
Company's web-based services are delivered as Software as a Service
(SaaS) to its customers interfacing seamlessly with billing,
information and document management systems.  These solutions
incorporate multiple features and security technologies such as
business-rules based electronic forms, intelligent routing,
transaction management, electronic signatures, identity
credentialing, content authentication, automated audit trails and
remote patient management capabilities.  Both web and fax-based
communications are integrated into automated, secure and trusted
workflow solutions.

Authentidate reported a net loss of $9.7 million on $3.68 million
of total revenues for the year ended June 30, 2015, compared to a
net loss of $7.14 million on $5.55 million of total revenues for
the year ended June 30, 2014.

EisnerAmper LLP, in New York, issued a "going concern"
qualification on the consolidated financial statements for the year
ended June 30, 2015, citing that the Company's recurring losses
from operations and negative cash flows from operations raise
substantial doubt about its ability to continue as a going
concern.

As of Dec. 31, 2015, Authentidate had $3.41 million in total
assets, $9.55 million in total liabilities and a $6.14 million
total shareholders' deficit.


AVAYA INC: Incurs $103 Million Net Loss in Second Quarter
---------------------------------------------------------
Avaya, Inc., filed with the Securities and Exchange Commission its
quarterly report on Form 10-Q disclosing a net loss of $103 million
on $904 million of revenue for the three months ended March 31,
2016, compared to a net loss of $22 million on $995 million of
revenue for the same period in 2015.

For the six months ended March 31, 2016, Avaya reported a net loss
of $130 million on $1.86 billion of revenue compared to a net loss
of $19 million on $2.07 billion of revenue for the six months ended
March 31, 2015.

As of March 31, 2016, Avaya had $6.68 billion in total assets,
$10.18 billion in total liabilities and a total stockholders'
deficiency of $3.50 billion.

For the quarter, adjusted EBITDA was $205 million which compares to
adjusted EBITDA of $228 million for the prior quarter and $208
million for the second quarter of fiscal 2015.  GAAP operating
income was $17 million and non-GAAP operating income was $162
million which compares to non-GAAP operating income of $185 million
for the prior quarter and $162 million for the second quarter of
fiscal 2015.

"Avaya's second fiscal quarter results reflect advancement of our
transformation as a software and services company and the impact of
ongoing pressures in the global economy.  Estimated total contract
value increased sequentially and year-over-year, reaching record
levels, despite the continued contraction of the enterprise unified
communications market, primarily associated with hardware.  Revenue
in contact center and cloud and managed services grew
year-over-year.  Profitability metrics including non-GAAP gross
margin, non-GAAP operating margin, and adjusted EBITDA as a
percentage of revenue all improved year-over-year due to improving
product mix and cost reduction initiatives," said Kevin Kennedy,
president and CEO.

The Company noted that second fiscal quarter results reflected an
increase in the proportion of revenue from software and services as
well as an increase in the proportion of recurring revenues.
Results this quarter demonstrate the progress recently and over the
past 5 years in the company's transformation to evolve the cost
structure and enable additional business model improvements in the
future.

Avaya also announced it has engaged advisors to assist in
comprehensively assessing alternatives and evaluating expressions
of interest which address the company's capital structure.  Goldman
Sachs and Centerview Partners are serving as financial advisors.

"Our purpose in assessing and taking capital structure actions is
to improve the balance sheet as we progress through our ongoing
transition as a software and services company," Kennedy added.  "We
will focus on maintaining Avaya's strong and broad customer
relationships, continuing to advance our industry leading
technology and multi-year operational improvement trend, and
ensuring customers continue to receive our outstanding service and
support that drives exceptional customer satisfaction."

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

                     https://is.gd/5dkOaK

                          About Avaya

Avaya is a leading provider of solutions that enable customer and
team engagement across multiple channels and devices for better
customer experience, increased productivity and enhanced financial
performance.  Its world-class contact center and unified
communications technologies and services are available in a wide
variety of flexible on-premise and cloud deployment options that
seamlessly integrate with non-Avaya applications.  The Avaya
Engagement Environment enables third parties to create and
customize business applications for competitive advantage.  Avaya's
fabric-based networking solutions help simplify and accelerate the
deployment of business critical applications and services.  For
more information please visit www.avaya.com.

                          *   *     *

As reported by the TCR on April 12, 2016, Standard & Poor's Ratings
Services said that it lowered its corporate credit rating on Santa
Clara, Calif.-based Avaya Inc. to 'CCC' from 'B-'.

Avaya carries a Caa1 corporate family rating from Moody's Investors
Service.


BLUFF CITY SHEET: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Bluff City Sheet Metal
        1989 Vanderhorn
        Memphis, TN 38134

Case No.: 16-24627

Chapter 11 Petition Date: May 17, 2016

Court: United States Bankruptcy Court
       Western District of Tennessee (Memphis)

Judge: Hon. Paulette J. Delk

Debtor's Counsel: John L. Ryder, Esq.
                  HARRIS SHELTON HANOVER WALSH, PLLC
                  One Commerce Square, Suite 2700
                  Memphis, TN 38103-2555
                  Tel: (901) 525-1455
                  E-mail: jryder@harrisshelton.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Richard E. Morgan, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/tnwb16-24627.pdf


BREEDYK DAIRY: Case Summary & 16 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Breedyk Dairy, Ltd. Co.
           fdba Breakaway Dairy
        7150 Vineyard
        Dexter, NM 88230

Case No.: 16-11218

Chapter 11 Petition Date: May 17, 2016

Court: United States Bankruptcy Court
       District of New Mexico (Albuquerque)

Judge: Hon. Robert H. Jacobvitz

Debtor's Counsel: Bonnie P. Bassan, Esq.
                  MOORE, BERKSON, BASSAN & BEHLES P.C.
                  3800 Osuna Rd NE, STE #2
                  Albuquerque, NM 87109
                  Tel: 505-242-1218
                  Fax: 505-242-2836
                  E-mail: mbglaw@swcp.com

                    - and -

                  Daniel J Behles, Esq.
                  MOORE, BERKSON, BASSAN & BEHLES P.C.
                  3800 Osuna Rd NE, STE #2
                  Albuquerque, NM 87109
                  Tel: 505-242-1218
                  Fax: 505-242-2836
                  E-mail: dan@behles.com

                     - and -

                  Arin Elizabeth Berkson, Esq.
                  MOORE, BERKSON, BASSAN & BEHLES, P.C.
                  3800 Osuna Rd NE, STE #2
                  Albuquerque, NM 87109
                  Tel: 505-242-1218
                  Fax: 505-242-2836
                  E-mail: mbglaw@swcp.com

                    - and -

                  George M Moore, Esq.
                  MOORE, BERKSON & BASSAN & BEHLES P.C.
                  3800 Osuna Rd NE, STE #2
                  Albuquerque, NM 87109
                  Tel: 505-242-1218
                  Fax: 505-242-2836
                  E-mail: mbglaw@swcp.com

Total Assets: $11.30 million

Total Debts: $17.56 million

The petition was signed by Arie Breedyk, managing member.

List of Debtor's 16 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Cartel, Inc.                                             $27,380

Cattle Feeds                                             $33,234

Chase                                                    $18,787

Chase                                                     $9,459

DBS Commodities                                       $1,164,978
184 E Darby Rd
Dexter, NM 88230

Internal Revenue Service                                 $83,432

Jordan Dairy Service                                     $84,625

Marshall Farms                                          $207,197

RCMA Farms, LLC                                          $56,504

Richard Park, DVM                                        $24,520

Robinson Farms                                          $617,992
181 E Darby
Dexter, NM 88230

Vet Outlet                                               $25,095

VFC Partners 25, LLC                                  $2,985,464
3424 Peachtree Rd.  NE
Suite 2200
Atlanta, GA 30326

VFC Partners 25, LLC                                    $384,074
3424 Peachtree Rd. NE
Suite 2200
Atlanta, GA 30326

W-F Farms                                               $340,648
PO Box 580
Dexter, NM 88230

Wells Fargo                                              $34,322
Business Direct
PO Box 29482
Phoenix, AZ 85308


BREITBURN ENERGY: S&P Lowers CCR to 'D' on Bankr. Filing
--------------------------------------------------------
S&P Global Ratings lowered its corporate credit ratings on
Breitburn Energy Partners to 'D' from 'CC'.

In addition, S&P lowered the senior secured issue-level rating to
'D' from 'CCC' and the senior unsecured issue-level rating to 'D'
from 'C'.  The recovery rating on the senior secured notes remains
'1', reflecting S&P's expectation for very high recovery (90% to
100%) in a default scenario.  The recovery rating on the senior
unsecured notes remains '6', reflecting S&P's expectation for
negligible recovery (0% to 10%).

The 'D' rating reflects Breitburn's announcement that it has filed
for Chapter 11 in bankruptcy court on May 15, 2016, after the
expiration of the 30-day-payment grace period the partnership
entered into as it elected to defer the April 15, 2016, interest
payments on its 7.875% senior notes due April 2022 and its 8.625%
senior notes due October 2020.


BROOKLYN CENTER: Moody's Affirms Ba2 GO Rating, Outlook Positive
----------------------------------------------------------------
Moody's Investors Service has affirmed Brooklyn Center Independent
School District (ISD) 286, MN's general obligation (GO) rating at
Ba2.  The district has $26.1 million of GO debt outstanding, of
which $3.5 million is rated by Moody's.

The Ba2 reflects district's improved but still weak financial
position after emerging from Statutory Operating Debt (SOD) after
thirteen fiscal years.  The rating also incorporates the district's
very narrow reserves that necessitate cash flow borrowing, small
tax base with a below average demographic, growing enrollment, an
elevated debt burden with borrowing needs.

Rating Outlook

The positive outlook reflects our expectation that the changes
implemented by management will continue to generate positive
results and improve the district's overall financial position over
the medium term.  The district has posted four consecutive
operating surpluses and emerged from Statutory Operating Debt (SOD)
at the close of fiscal 2015 with its first positive fund balance in
over a decade.

Factors that Could Lead to an Upgrade

  Moderation of the district's debt burden and fixed costs
  Ongoing operating surpluses that leads to material improvement
   in the district's operating reserves and liquidity

Factors that Could Lead to a Downgrade
  Return to Statutory Operating Debt (SOD)
  Emergence of enrollment declines placing pressure on district
   revenues
  Further declines in tax base valuation
  Growth in the district's debt burden

Legal Security

Debt service on the bonds is secured by the district's general
obligation unlimited tax pledge which benefits from a designated
levy which is not limited by rate or amount.

Use of Proceeds
Not applicable.

Obligor Profile
The district covers 2.8 square miles within Hennepin County.  It
provides early childhood through twelfth grade education to 2,390
students and serves portions of the City of Brooklyn Center.  The
district's population is estimated at 2,383.

Methodology

The principal methodology used in this rating was US Local
Government General Obligation Debt published in January 2014.


C&S GROUP: Moody's Raises CFR to Ba2, Outlook Remains Stable
------------------------------------------------------------
Moody's Investors Service upgraded C&S Group Enterprises LLC's
Corporate Family Rating and Probability of Default Rating to Ba2
and Ba2-PD from Ba3 and Ba3-PD respectively. Moody's also upgraded
the rating of the company's $400 million senior secured notes due
2022 to Ba3 from B1.  The rating outlook remains stable.

"Despite a challenging business environment C&S remains a market
leader with a strong client base and has demonstrated impressive
growth, both organically and through a disciplined acquisition
strategy", Moody's Senior Credit Officer Mickey Chadha stated.
"Although we expect future growth opportunities will increasingly
be driven through acquisitions which could result in higher funded
debt levels, leverage is expected to remain between 3.0 and 3.5
times", Chadha further stated.

These ratings are upgraded:

  Corporate Family Rating at Ba2
  Probability of Default Rating at Ba2-PD
  $400 million senior secured guaranteed notes due 2022 at Ba3
   (LGD5) from B1 (LGD5)

                          RATINGS RATIONALE

C&S's Ba2 Corporate Family Rating reflects the company's leading
position in a highly fragmented industry, a moderate funded debt
level, and good liquidity.  The rating also reflects the risks
associated with the company's high customer concentration, it's
very thin margins, and its high fixed cost structure.

Despite the loss of one of its biggest customers - The Great
Atlantic and Pacific Tea Company (A&P) - due to its bankruptcy and
subsequent liquidation, C&S has demonstrated its ability to add new
customers like Winn-Dixie to its distribution footprint, increase
business with existing customers like Ahold and make accretive
acquisitions thereby increasing total volumes and profitability and
maintaining strong credit metrics.

The stable rating outlook reflects Moody's expectation that credit
metrics will remain strong with debt/EBITDA and EBITA/interest
adjusted for leases and pensions expected to be around 3.0 to 3.5
times and around 2.0 times respectively for the next 12-18 months.

A higher rating would likely require a stable operating
environment, a continuation of current business volumes, balanced
financial policies particularly regarding future growth through
acquisitions, sustained EBITA/interest above 3.0 times, and
sustained debt/EBITDA below 3.0 times.

A material loss of revenue or negative impact on cash flow from
serviced stores due to closures or divestitures or loss of any
material customer could result in a downgrade.  Quantitatively,
ratings could be lowered if EBITA/interest is sustained below 1.5
times or debt/EBITDA remains above 4.0 times.

The principal methodology used in this rating was Distribution &
Supply Chain Services Industry published in December 2015.

C&S Group Enterprises LLC, issuer of the rated debt, is a financing
subsidiary of C&S Wholesale Grocers Inc. and four affiliated
operating companies.  C&S Wholesale Grocers is a distributor of
groceries to food retailers in the U.S. Consolidated revenues are
approximately $29 billion.


CAESARS ENTERTAINMENT: Parent to Contribute $4B to Restructuring
----------------------------------------------------------------
Jacqueline Palank, writing for Dow Jones' Daily Bankruptcy Review,
reported that Caesars Entertainment Corp. will contribute
approximately $4 billion in exchange for broad liability releases
in connection with its operating unit's restructuring, a bankruptcy
lawyer said in court.

According to the report, David Seligman, a lawyer representing the
bankrupt unit, told a bankruptcy court judge here that the $4
billion figure is the "midpoint" for Caesars' expected contribution
to the restructuring of its Caesars Entertainment Operating Co., or
CEOC, unit.  The contribution would be made up of cash, new debt
and equity, according to the plan, and exceeds a prior pledge from
Caesars of more than $1.5 billion, the report related.

Negotiations with CEOC's creditors and with Caesars continue to
propose a consensual restructuring plan, Mr. Seligman said, adding
that he didn't think the current plan would draw the "flurry" of
objections as a prior version, the report further related.

Creditor lawyers said it's not entirely true that unsecured
creditors support the latest plan, and a lawyer for the junior
bondholders that have been at odds with CEOC throughout its
bankruptcy, Sidney Levinson, said "the first we saw of these terms"
was when the plan was filed to the court docket, the report further
related.

                   About Caesars Entertainment

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

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

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

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

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

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

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

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


CAMERON PARK: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Cameron Park Plaza, LP
        320 Goodhill Road
        Greenbrae, CA 94904

Case No.: 16-30540

Chapter 11 Petition Date: May 17, 2016

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

Judge: Hon. Hannah L. Blumenstiel

Debtor's Counsel: Michael C. Fallon, Esq.
                  LAW OFFICES OF MICHAEL C. FALLON
                  100 E St. #219
                  Santa Rosa, CA 95404
                  Tel: (707) 546-6770
                  E-mail: mcfallon@fallonlaw.net

Total Assets: $8.22 million

Total Liabilities: $4.20 million

The petition was signed by David Monetta, general partner.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/canb16-30540.pdf


CAMPOSOL SA: To Pay Participation Fee to Bondholders in Exchange
----------------------------------------------------------------
Camposol S.A. on May 5 disclosed that it will pay to all Eligible
Holders that tender their 9.875% Senior Notes due 2017 (the
"Existing Notes") and do not validly withdraw their Existing Notes
prior to midnight on May 19, 2016 (the "Revised Expiration Date"),
in the context of its previously announced offer to exchange
Existing Notes for New Notes (the "Exchange Offer"), a
participation fee payable in cash at closing (the "Participation
Fee") equal to 1.00% of the principal amount of the Existing Notes
tendered and accepted for exchange in the Exchange Offer.  The
Participation Fee will be paid to all Eligible Holders who have
previously tendered their Existing Notes and any additional
Eligible Holders who tender their Existing Notes prior to the
Revised Expiration Date.  The Participation Fee will be in addition
to the 0.25% processing fee payable to individual Eligible Holders
tendering Existing Notes in a principal amount of US$500,000 or
less.

Camposol also announced that it has extended the Expiration Date
for the Exchange Offer from May 6, 2016 to the Revised Expiration
Date.  This extension is required by the provisions of Rule 14e-1
of the U.S. Exchange Act which subjects any exchange offer that
provides for a change in the offering consideration to be extended
by not less than ten business days.

Camposol has prepared a Supplement dated the date hereof (the
"Supplement") to the Exchange Offer Memorandum dated April 11, 2016
(the "Exchange Offer Memorandum").  The Supplement, among other
things, includes preliminary financial information of the Company
for the three months ended March 31, 2016 and 2015, prepared based
on internal management accounts, which information has not been
audited nor subject to a limited review by Camposol's external
auditors.

The Exchange Offer was made pursuant to the terms and remains
subject to satisfaction of the conditions set forth in the Exchange
Offer Memorandum, as supplemented by the Supplement.  As of the
date of this press release, a total of 63.07% in principal amount
of the Existing Notes outstanding have been tendered by Eligible
Holders.  The Participation Fee will only be payable by the Company
if the conditions to the Exchange Offer set forth in the Exchange
Offer Memorandum, as supplemented by the Supplement, are satisfied
or if the Company waives such conditions and proceeds to settlement
of the Exchange Offer.  The Participation Fee will only be paid to
Eligible Holders who effectively tender their Eligible Notes in the
Exchange Offer.

Except as stated above, all terms and conditions of the Exchange
Offer Memorandum as stated in the Exchange Offer Memorandum, as
supplemented by the Supplement remain the same.

Consummation of the Exchange Offer is conditioned upon the valid
tender, without subsequent withdrawal, of at least 95% of the
aggregate principal amount outstanding of the Existing Notes.
Subsequent to confirmation of the Exchange Offer, collateral that
will secure the Existing Notes that remain outstanding and the New
Notes issued in the Exchange Offer, will be perfected pursuant to
the terms of a Peruvian Trust Agreement governed by Peruvian law
that will be entered into by the Company and the Peruvian Trustee
and Collateral Agent for the benefit of all holders of both
Existing Notes and New Notes outstanding.  The Company will have
the right, in its sole discretion, to waive any conditions to the
Exchange Offer.  The Company will also have the right to terminate
or withdraw the Exchange Offer and extend the Expiration Date in
its sole discretion, subject to applicable law.

The Exchange Offer and the New Notes have not been and will not be
registered under the U.S. Securities Act of 1933, as amended (the
"Securities Act").  As a result, holders within the United States
or who are U.S. persons will be eligible to participate in the
Exchange Offer only if they are "qualified institutional buyers"
("QIBs") as defined in Rule 144A under the Securities Act ("Rule
144A").  Offers and issuances of the New Notes to non U.S. persons
outside the United States will be made in offshore transactions in
reliance on Regulation S under the Securities Act ("Regulation
S").

The Company has engaged D.F. King & Co., Inc. to act as Information
and Exchange Agent, in connection with the Exchange Offer.

The Exchange Offer is being made only to holders who have properly
completed, executed and delivered to the Information and Exchange
Agent an eligibility letter or a certification, whereby such holder
has represented or will represent to the Company that they are
either (i) a "qualified institutional buyer," or "QIB," as defined
in Rule 144A under the Securities Act of 1933, as amended (the
"Securities Act") and under applicable state securities laws; or
(ii) a "non-U.S. Person" (as defined in Regulation S under the
Securities Act), and if such holder is in any member state of the
European Economic Area which has implemented Directive 2003/71/EC
(the "Prospectus Directive," which term includes amendments
thereto, including Directive 2010/73/EU), a "qualified investor"
(as defined in the Prospectus Directive) and, in each case, that it
may lawfully participate in the Exchange Offer in accordance with
the laws of the jurisdiction in which it is located.

Informational documents relating to the Exchange Offer, including
but not limited to the Exchange Offer Memorandum and the
Supplement, will only be distributed to eligible investors who
submit the eligibility letter or certification described above.  If
you would like to submit the eligibility letter or certification,
please log into the website www.dfking.com/camposol  Alternatively,
please contact the Information and Exchange Agent D.F. King & Co.,
Inc., Attn: Peter Aymar, at 48 Wall Street, 22nd Floor, New York,
NY 10005, telephone number: (800) 821-2794 (toll-free), (212)
269-5550 (collect) or email camposol@dfking.com  Requests for
documentation should be directed to the Information and Exchange
Agent.

Beneficial owners of Existing Notes should carefully read the
Exchange Offer Memorandum, as supplemented by the Supplement,
regarding the relevant procedures and timing to tender their
Existing Notes. This announcement must be read in conjunction with
the Exchange Offer Memorandum, as supplemented by the Supplement.

This press release is neither an offer to purchase nor the
solicitation of an offer to sell OR EXCHANGE any of the securities
described herein in the United States or in any other jurisdiction
where such offer is prohibited, and such securities may not be
offered, sold OR EXCHANGED in the United States absent registration
or an exemption from registration under the Securities Act. THE
COMPANY does not intend to register any NEW NOTES in the United
States or to conduct a public offering of such securities in any
jurisdiction.  The exchange offer is made solely pursuant to the
EXCHANGE OFFER memorandum dated APRIL 11, 2016, as supplemented by
THE SUPPLEMENT DATED MAY 5, 2016.

The Exchange Offer is being made solely pursuant to the Exchange
Offer Memorandum, as supplemented by the Supplement, and only to
such persons and in such jurisdictions as are permitted under
applicable law.

None of the Company, the Dealer Managers or the Information and
Exchange Agent makes any recommendation as to whether holders of
Existing Notes should tender Existing Notes or participate in the
Exchange Offer.

This announcement contains forward-looking statements and
information that is necessarily subject to risks, uncertainties and
assumptions.  No assurance can be given that the transactions
described herein will be consummated or as to the terms of any such
transactions.  The Company assumes no obligation to update or
correct the information contained in this announcement.

This communication is only being distributed to and is only
directed at (i) persons who are outside the United Kingdom or (ii)
investment professionals falling within Article 19(5) of the
Financial Services and Markets Act 2000 (Financial Promotion) Order
2005 (the "Order") or (iii) high net worth companies, and other
persons to whom it may lawfully be communicated, falling within
Article 49(2)(a) to (d) of the Order (all such persons together
being referred to as "relevant persons").  The New Notes are only
available to, and any invitation, offer or agreement to subscribe,
purchase or otherwise acquire such New Notes will be engaged in
only with, relevant persons. Any person who is not a relevant
person should not act or rely on this document or any of its
contents.

                        About Camposol

Camposol is an agro industrial company in Peru, the first producer
of avocados and soon the first producer of blueberries in the
world.  It is involved in the harvest, processing and marketing of
high quality agricultural products such as avocados, asparagus,
blueberries, grapes, mangos, tangerines and shrimp; which are
exported to Europe, the United States and Asia.  Camposol is a
vertically integrated company located in Peru, offering fresh and
frozen products.  It is the third largest employer of the country,
with more than 13,000 workers in high season, and is committed to
support sustainable development through social responsibility
policies and projects aimed to increase the shared-value for all of
its stakeholders.  Camposol was the first Peruvian agro industrial
company to present annual audited Sustainability Reports and has
achieved the following international certifications: BSCI, Global
Gap, IFS, HACCP and BRC among others.

                          *     *     *

As reported by the Troubled Company Reporter-Latin America on April
13, 2016, Standard & Poor's Ratings Services lowered its corporate
credit rating on Camposol S.A. to 'CC' from 'CCC'.  At the same
time, S&P lowered its issue-level rating on the company's $200
million senior unsecured notes to 'CC' from 'CCC'.  The outlook is
negative.

The downgrade follows Camposol's announcement to exchange its
existing $200 million 9.875% senior unsecured notes due February
2017 for new five-year 10.5% secured notes.  S&P views such
transaction as a distressed exchange because the new securities'
maturities extend beyond the original.  Moreover, in S&P's view,
there is possibility of conventional default when the notes come
due.


CARDIOTHORACIC SURGERY: 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 Cardiothoracic Surgery of Hyde Park, Inc.

Cardiothoracic Surgery of Hyde Park, Inc. sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. M.D. Fla. Case No.
16-03244) on April 15, 2016.  The Debtor is represented by Justin
M. Luna, Esq., at Latham, Shuker, Eden & Beaudine, LLP.


CATASYS INC: Incurs $4.29 Million Net Loss in First Quarter
-----------------------------------------------------------
Catasys, Inc., filed with the Securities and Exchange Commission
its quarterly report on Form 10-Q disclosing a net loss of $4.29
million on $728,000 of revenues for the three months ended
March 31, 2016, compared to a net loss of $260,000 on $433,000 of
revenues for the same period in 2015.

As of March 31, 2016, Catasys had $2.06 million in total assets,
$14.9 million in total liabilities and a total stockholders'
deficit of $12.8 million.

As of May 12, 2016, the Company had a balance of approximately
$78,000 cash on hand.  The Company had a working capital deficit of
approximately $12.4 million at March 31, 2016.  The Company has
incurred significant operating losses and negative operating cash
flows since its inception.  The Company could continue to incur
negative cash flows and operating losses for the next twelve
months.

"Our current cash burn rate is approximately $450,000 per month,
excluding non-current accrued liability payments.  We expect our
current cash resources to cover expenses through the end of May
2016; however delays in cash collections, revenue, or unforeseen
expenditures could impact this estimate.  We are in need of
additional capital, however, there is no assurance that additional
capital can be timely raised in an amount which is sufficient for
us or on terms favorable to us and our stockholders, if at all.  If
we do not obtain additional capital, there is a significant doubt
as to whether we can continue to operate as a going concern and we
will need to curtail or cease operations or seek bankruptcy relief.
If we discontinue operations, we may not have sufficient funds to
pay any amounts to stockholders," the Company stated in the
filing.

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

                     https://is.gd/jFOJQL

                       About Catasys Inc.

Based in Los Angeles, California, Hythiam, Inc., n/k/a Catasys,
Inc., is a healthcare services management company, providing
through its Catasys(R) subsidiary specialized behavioral health
management services for substance abuse to health plans.

Catasys reported a net loss of $7.22 million on $2.70 million of
revenues for the year ended Dec. 31, 2015, compared to a net loss
of $27.3 million on $2.03 million of revenues for the year ended
Dec. 31, 2014.

Rose, Snyder & Jacobs LLP, in Encino, California, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2015, citing that the Company has continued
to incur significant operating losses and negative cash flows from
operations during the year ended Dec. 31, 2015, and continues to
have negative working capital at Dec. 31, 2015.  These conditions
raise substantial doubt about the Company's ability to continue as
a going concern.


CEC ENTERTAINMENT: Bank Debt Trades at 3% Off
---------------------------------------------
Participations in a syndicated loan under which CEC Entertainment
Inc is a borrower traded in the secondary market at 97.10
cents-on-the-dollar during the week ended Friday, May 13, 2016,
according to data compiled by LSTA/Thomson Reuters MTM Pricing.
This represents a decrease of 0.20 percentage points from the
previous week.  CEC Entertainment pays 350 basis points above LIBOR
to borrow under the $0.725 billion facility. The bank loan matures
on Feb. 18, 2021 and carries Moody's B2 rating and Standard &
Poor's B rating.  The loan is one of the biggest gainers and losers
among 247 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended May 13.


CEETOP INC: Delays Filing of March 31 Form 10-Q
-----------------------------------------------
Ceetop Inc. disclosed in a regulatory filing with the Securities
and Exchange Commission that it cannot file its March 31, 2016,
Form 10-Q within the prescribed time period because management has
not completed the process of gathering and analyzing the financial
information that will be included in the Company's Form 10-Q.

                       About Ceetop Inc.

Oregon-based Ceetop Inc., formerly known as China Ceetop.com,
Inc., owned and operated the online retail platform before 2013.
Due to excessive competition in online retail, the Company has
transformed itself into an integrated supply chain services
provider, and focuses on B to B supply chain management and
related value-added services among enterprises.

Ceetop reported a net loss of $599,847 on $0 of sales for the year
ended Dec. 31, 2015, compared to a net loss of $1.41 million on
$361,887 of sales for the year ended Dec. 31, 2014.

As of Dec. 31, 2015, Ceetop Inc. had $3.22 million in total assets,
$1.16 million in total liabilities, all current, and $2.05 million
in total stockholders' equity.

The Company's auditors MJF& Associates, APC, in Los Angeles,
California, issued a "going concern" qualification on the
consolidated financial statements for the year ended Dec. 31, 2015,
citing that the Company incurred recurring losses from operations,
has a net loss of $599,847 and $1,415,949 for the years ended
December 31, 2015 and 2014, respectively, and has accumulated
deficit of $10,621,441 at December 31, 2015.


CENGAGE LEARNING: Moody's Assigns B2 CFR, Outlook Stable
--------------------------------------------------------
Moody's Investors Service assigned Cengage Learning, Inc. B2
Corporate Family Rating and assigned Probability of Default Rating
B2-PD to incorporate proposed loan and unsecured notes capital
structure.  The proposed $1,590 million Senior Secured Term Loan is
rated Ba3 (LGD-3) and the $740 million Senior Unsecured Notes are
rated Caa1 (LGD-5).  The company will use proceeds from the
transaction to retire existing $2,010 million Senior Secured Term
Loan and pay a special dividend to the shareholders of $283
million.  The outlook is stable.  The issuer of the proposed debt
(Cengage Learning, Inc.) was previously an operating subsidiary of
Cengage Learning Acquisitions, Inc. (B2, Stable) holding the
business assets, and is the surviving entity of the merger of
Cengage Learning, Inc. and Cengage Learning Acquisitions, Inc.
Moody's will withdraw all ratings for Cengage Learning
Acquisitions, Inc. upon closing of the transaction.

Ratings to be withdrawn:

Cengage Learning Acquisitions, Inc.:

  Corporate Family Rating, ratings to be withdrawn B2
  Probability of Default Rating, ratings to be withdrawn B3-PD
  $2.01 billion Senior Secured Term Loan due 2020, ratings to be
   withdrawn B2, LGD3

Outlook Action:

  Outlook is Stable to be withdrawn

Cengage Learning, Inc.

Ratings Assigned
  Corporate Family Rating, B2
  Probability of Default Rating B2-PD
  $1,590 million Senior Secured Term Loan due 2023: Ba3, LGD3
  $740 million Senior Unsecured Notes due 2024; Caa1, LGD5

Outlook Action:

Outlook is Stable

                         RATINGS RATIONALE

Cengage's B2 CFR rating reflects Moody's expectation for low single
digit percentage declines in enrollment levels for U.S.
institutions of higher education, consumer focus on containing
education costs, competition among leading players especially as
the market transitions to digital services from traditional
learning materials, and high event risk related to ownership by
financial sponsors.  Ratings reflect the company's high leverage of
5.3x debt-to-cash EBITDA pro-forma for the proposed transaction
(including Moody's standard adjustments and cash pre-publication
costs as an expense), making the company more sensitive to
underlying business deterioration.  Moody's is increasingly
concerned over the company's financial policy as it continues to
use its cash towards dividend distributions and share repurchases.
Moody's expects leverage to return to approximately 5x over the
next 12 months, as actioned cost savings are realized.  The current
rating and outlook do not incorporate any further share repurchases
or debt funded distributions, which if occur, may result in a
negative rating action.  Moody's expects Cengage to maintain
mid-single digit percentage free cash flow-to-debt or better absent
any further shareholder distributions.

While Cengage has successfully been able to maintain its market
share within a challenged higher education market, and made strong
strides towards growing its digital portfolio, the company's
financial policy pressures the B2 Corporate Family Rating.
Including the proposed special dividend and the share repurchases
executed over the past 12 months, the company will have returned
nearly one year worth of its Cash EBITDA for FY 2016, limiting the
de-levering of the issuer.  The company generated $460 million in
cash EBITDA during FY 2016 (including Moody's standard adjustments
and cash pre-publication costs as an expense) and estimated $150
million in free cash flow, ending the year with a cash balance of
$254 million.

Ratings could be downgraded if market conditions or competitive
pressures lead to Cengage being unable to track revenue or EBITDA
expectations resulting in debt-to-cash EBITDA remaining above 5x
(including Moody's standard adjustments and cash prepublication
costs as an expense) over the next 12 months.  Ratings could also
be downgraded if additional debt funded distributions lead to
increased leverage or if liquidity were to weaken due to
significant revolver usage or free cash flow-to-debt falling below
mid-single digit percentages.

Given weak position of the credit within its corporate family
rating, upgrade is unlikely.  Ownership by financial sponsors and
the likelihood of additional distributions pressure debt ratings,
but we could consider a rating upgrade if U.S. enrollment levels
stabilize and if Cengage is able to consistently grow revenue and
maintain its market share.  The company would also need to
demonstrate EBITDA growth resulting in debt-to-cash EBITDA being
sustained comfortably below 3x, and we would need to expect that
liquidity will remain good with cash balances being more than
sufficient to cover outflows including seasonal working capital
swings and with free-cash flow-to-debt being sustained in the low
to mid double-digit percentage range or better.

The principal methodology used in these ratings was Global
Publishing Industry published in December 2011.

Cengage Learning, Inc. is a provider of learning solutions,
software and educational services for the higher education,
research, school, career, professional, and international markets.
Cengage publishes college textbooks and reference materials, and
supplements its print publications with digital solutions.  The
company emerged from Chapter 11 bankruptcy protection in March 2014
with reduced debt levels.  Large shareholders currently include
Apax Partners, KKR and Searchlight Capital as well as other
creditors who became shareholders upon exit.  Revenue for the FY
ended March 31, 2016, totaled $1.6 billion.


CLUB ONE CASINO: Three-Day Trial Vacated
----------------------------------------
Pursuant to a pre-trial conference held April 27, 2016 in the
Chapter 11 cases of Club One Casino, Inc. and Club One Acquisition
Corp., Judge Rene Lasreto II on May 16, ordered that the three-day
trial commencing May 20, 2016 is vacated.

                         About Club One Casino

Club One Casino, Inc. and Club One Acquisition Corp. filed Chapter
11 bankruptcy petitions (Bankr. E.D. Cal. Case No. 15-14017 and
15-14021, respectively) on Oct. 14, 2015.  The petitions were
signed by Kyle R. Kirkland, the president.  The Debtors estimated
both assets and liabilities in the range of $10 million to $50
million.

Club One Casino, Inc. operates a card room in Fresno, California.
Its facilities include banquets, a bar, and a restaurant.  Club One
Acquisition Corp. is a holding company for Club One's stock.

Belden Blaine, LLP and Klein, Denatale, Goldner, Cooper, Rosenlieb
& Kimball, LLP, serve as counsel to the Debtors.

Judge Rene Lastreto II is assigned to the jointly administered
cases.


COLORADO TIRE: Court Converts Case to Ch. 7
-------------------------------------------
Hon. Christopher M. Alston of the Bankruptcy Court for the Western
District of Washington entered an order converting Colorado Tire
Corporation’s Chapter 11 case to a case under chapter 7 of the
Bankruptcy Code in consideration of the motion filed by the U.S.
Trustee.

The Debtor asks the Court to reconsider its ruling converting the
Debtor's Chapter 11 Case and asks for another opportunity to prove
that it can formulate a Chapter 11 plan and pay its creditors and
save its business since: (a) the Debtor almost had insurance
covering much of its assets at the time of the hearing except for
certain artwork, and (b) the Debtor has procured over $1,000,000 in
sales that could be used to fund a Chapter 11 Plan of
Reorganization.

Ultimately, the Court denied the Debtor's request for
reconsideration after finding that the Debtor has not shown
manifest error and as not put forth new material facts sufficient
to warrant reconsideration of the Order.

Colorado Tire Corporation is represented by:

       Darrel B. Carter, Esq.
       CBG LAW GROUP, PLLC
       Plaza East Building - Suite 380
       11100 NE 8th Street
       Bellevue, WA  98004
       Telephone: (425) 283-0432
       E-mail: Darrel@cbglaw.com

              About Colorado Tire

Colorado Tire Corporation ("CTC") is one of three companies in the
world that successfully designed, developed and delivered the 63"
and 57" super-giant OTR tries to mining companies before 2007.
Since then, Colorado Tire has been a global leader in
performance-guaranteed OTR tires and is committed to great service
in addition to high-quality OTR tires of all sizes.

Colorado Tire offers full range OTR tires from 16" up to 63", in
addition to other types of rubber tires, and is dedicated to
continuously improving Colorado OTR tire's onsite performance
worldwide.

Colorado Tire filed Chapter 11 bankruptcy petition (Bankr. W.D.
Wash. Lead Case No. 16-11345) on March 15, 2016. The petition was
signed by Joan Lee, president of Debtor.

The Debtor has estimated assets of $50 million to $100 million and
estimated debts of $1 million to $10 million. The case has been
assigned to Judge Christopher M Alston.


COMBIMATRIX CORP: Acuta Capital Reports 3.6% Stake
--------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, Acuta Capital Partners LLC disclosed that as of May 10,
2016, it beneficially owns 47,431 shares of common stock of
Combimatrix Corporation representing 3.6 percent of the shares
outstanding.  A copy of the regulatory filing is available for free
at https://is.gd/0BM2sh

                      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.  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.

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.


CONNACHER OIL: To File for Creditor Protection in Canada
--------------------------------------------------------
Bloomberg Brief reported that Calgary-based Connacher said it would
file for protection under the Companies' Creditors Arrangement Act.
The company cited weak oil prices and limited access to capital
markets for the move, the Bloomberg report said.

Jeff Lewis, writing for The Globe and Mail, reported that Connacher
had been in negotiations with debt holders after it skipped a March
interest payment associated with $153.8-million (U.S.) in loans. It
said on May 16 that it had received commitments from existing
lenders for up to $20-million to finance continued operations, the
report related.

It said it will also seek approval to initiate a sales process for
its assets or the company, the report further related.  Connacher
operates the Great Divide steam-driven oil sands project, which
pumped an average 5,900 barrels per day in the first quarter, the
report added.

                       *     *     *

The Troubled Company Reporter, on April 16, 2015, reported that
Standard & Poor's Ratings Services said it withdrew its ratings,
including its 'D' long-term corporate credit rating, on Calgary,
Alta.-based Connacher Oil and Gas Ltd. due to lack of sufficient
information to rate the company.  S&P had lowered its long-term
corporate credit and issue-level ratings to 'D' Feb. 2, 2015,
following the company's failure to pay interest due on its existing
second-lien notes.




CONSOLIDATED MINERALS: S&P Lowers CCR to 'CC', Outlook Negative
---------------------------------------------------------------
S&P Global Ratings said that it had lowered its long-term corporate
credit rating on Jersey-incorporated manganese ore miner
Consolidated Minerals Ltd. (Jersey) (ConsMin) to 'CC' from 'CCC-'.
The outlook is negative.

At the same time, S&P lowered its issue rating on the $400 million
senior secured notes due 2020 to 'CC' from 'CCC-'.  The recovery
rating on these notes remains at '4', indicating S&P's expectation
of recovery prospects in the lower half of the 30%-50% range in
case of default.

The rating action follows the company's announcement that it would
not pay the coupon payment due May 15, 2016, in respect of the 8%
senior secured notes due 2020.  The notes' documentation provides
for a 30-day grace period for nonpayment of the coupon.  S&P takes
into account the company's ongoing discussions with its noteholders
regarding a potential debt restructuring, and the possibility that
the negotiations could result in deferral of the interest payment
within or beyond the grace period.

Manganese ore prices have shown signs of recovery in recent weeks,
helping limit cash burn from the company's $41.2 million cash
balance at the end of February.  Australian mines are on care and
maintenance.  S&P anticipates that the company will continue to
report negative free cash flow in the coming months, albeit less
negative if the interest payment is actually deferred as expected.

S&P continues to view ConsMin's liquidity as weak, given that
negative free operating cash flow at current price levels will
likely deplete cash balances over the next quarters, albeit
depending on actual interest deferral.

The negative outlook reflects that S&P will lower the corporate
rating to 'SD' if the interest is not paid within the 30-day grace
period.  The outcome will be determined by the company's ongoing
discussions with noteholders, in S&P's view.


CORE ENTERTAINMENT: Lines Up $30-Mil. Bankruptcy Loan
-----------------------------------------------------
Lillian Rizzo, writing for Dow Jones' Daily Bankruptcy Review,
reported that television series producer Core Entertainment Inc.
has lined up a $30 million loan to take it through bankruptcy and
make sure the show goes on for programs like "So You Think You Can
Dance."

According to the report, court papers show the company behind the
global "American Idol" franchise secured the financing package from
an affiliate and existing lender, Elvis Blue Moon Holdings LLC,
which isn't in bankruptcy.  Core Entertainment says despite having
"sufficient liquidity" after winning approval to tap its lender's
cash in April, the bankruptcy loan will give "confidence" to its
vendors, suppliers, employees and independent contractors, the
report related.

What's more, Core says in court papers that the loan will ensure
the "uninterrupted production" of its shows, including the live
dance competition "So You Think You Can Dance," the report further
related.  Judge Stuart Bernstein will review the loan proposal at a
hearing on June 2 in the U.S. Bankruptcy Court in Manhattan, the
report said.

                     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.


DANDRIT BIOTECH: Incurs $208,000 Net Loss in Third Quarter
----------------------------------------------------------
DanDrit Biotech USA, Inc., filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $208,000 on $0 of revenues for the three months ended March 31,
2016, compared to a net loss of $1.25 million on $0 of revenues for
the same period in 2015.

For the nine months ended March 31, 2016, Dandrit reported a net
loss of $980,000 on $42,500 of revenues compared to a net loss of
$2.74 million on $0 of revenues for the same period in 2015.

As of March 31, 2016, Dandrit had $980,500 in total assets, $1.04
million in total liabilities and a total stockholders' deficit of
$63,400.

As of March 31, 2016, the Company had $151,222 in cash and working
capital deficit of $208,820 as compared to June 30, 2015, when the
Company had $1.47 million in cash and cash held in escrow and
working capital of $911,000.  The decrease in cash and working
capital is primarily due to the Company's efforts to secure
financings through equity offering and expenses for research and
development attributable to the Company engaging an entity to
perform Phase III clinical trial of MelCancerVac.

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

                      https://is.gd/1SGmHS

                          About DanDrit

DanDrit Biotech USA, Inc., a biotechnology company, develops
vaccine for the treatment of colorectal cancer primarily in the
United States, Europe, and Asia.  Its lead compound includes
MelCancerVac(MCV), a cellular therapy, which is in a comparative
Phase IIb/III clinical trial for advanced colorectal cancer.  It
also develops MelVaxin that is similar to the lysate component of
MCV for injecting into the skin to promote natural dendritic cell
responses that will attack the tumor expressing cancer/testis
antigens.  The company was founded in 2001 and is headquartered in
Copenhagen, Denmark.

For the year ended Dec. 31, 2014, the Company reported a net loss
of $2.37 million on $0 of net sales compared to a net loss of $2.15
million on $32,768 of net sales for the year ended Dec. 31, 2013.


DARIUS ENTERPRISES: $910K Sale of Chatsworth Property Okayed
------------------------------------------------------------
Following a hearing and auction held May 10, 2016, the Honorable
Martin R. Barash entered an order authorizing the sale of Darius
Enterprises, LLC's property commonly known as 9621 Canoga Avenue,
Chatsworth, California, to Wilber Cifuentes and Maria Arely
Cifuentes for $910,000.

Told Partners, Inc., the real estate broker to the Estate, broadly
marketed the Property.  Cifuentes and Adam Saitman were the only
bidders who participated in the May 10 auction.  Upon the
conclusion of the bidding the auction was closed, and the Cifuentes
were designated as the successful purchasers of the Property, with
a bid of $910,000.  Saitman has agreed to serve as the back-up
bidder for the Property with a purchase price of $900,000.

No opposition to the Motion was filed by any party-in-interest.

Escrow is authorized and directed to pay these claims, in full in
accordance with formal, written payoff demands, from the proceeds
of the sale of the Property held in escrow upon the close thereof:

   a. The claims asserted by secured creditor, CFS-4, III, LLC
("CFS"), the sum of $765,000;

   b. The claims asserted by Peppertree Association, the sum of
$32,012;

   c. The priority secured tax claims to Los Angeles County
Treasurer and Tax Collector, in the sum of $9,067;

   d. To Told Partners, the sum of $22,750 on account of its
selling brokers' commission;

   e. To A Team Realty Inc., the sum of $22,750 on account of its
selling brokers' commission;

   f. Any and all costs associated with the sale of the Property
for which the Debtor is liable under the Sale Agreement and
applicable law, including, but not limited to, escrow fees and
title insurance, whether or not herein specified; and

   g. All remaining funds from the sale of the Property are to
remain in Escrow pending further court approval.

A copy of the Sale Order is available for free at:

      http://bankrupt.com/misc/Darius_224_Sale_Ord.pdf

Darius Enterprises' attorneys:

         Lesley B. Davis, Esq.
         R. Grace Rodriguez, Esq.
         THE LAW OFFICES OF R. GRACE RODRIGUEZ
         21000 Devonshire Street, Suite 111
         Chatsworth, California 91311
         Tel: (818) 734-7223
         Fax: (818) 338-5821
         E-mail: ECF@LORGR.COM

                     About Darius Enterprises

Darius Enterprises, LLC, is a limited liability company created by
Masih Madani to own two commercial condominiums located at 9621 and
9623 Canoga Avenue in Chatsworth, Calif.

Darius Enterprises filed a chapter 7 petition (Bankr. C.D. Cal.
Case No. 15-12153) on June 10, 2016, and converted the case to a
chapter 11 proceeding in Sept. 2015.  This is Darius Enterprises'
second time in bankruptcy court.  The company previously sought
Chapter 11 protection (Bankr. C.D. Cal. Case No. 10-20351) on Aug.
20, 2010, estimating less than $1 million in assets and $1 million
to $10 million in debt.


DIAMOND OFFSHORE: Egan-Jones Cuts FC Sr. Unsecured Rating to BB
---------------------------------------------------------------
Egan-Jones Ratings Company downgraded the foreign senior unsecured
rating on debt issued by Diamond Offshore Drilling Inc. to BB from
BBB- on May 5, 2016.

Headquartered in Houston, Texas, Diamond Offshore Drilling Inc. is
a deepwater drilling contractor.



DIDI REAL ESTATE: 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 Didi Real Estate, LLC.

Didi Real Estate, LLC (Bankr. S.D. Fla., Case No. 16-13737) sought
protection under Chapter 11 of the Bankruptcy Code on March 16,
2016.  The Debtor is represented by Adam I Skolnik, Esq.


DIFFERENTIAL BRANDS: Incurs $6.37 Million Net Loss in 1st Quarter
-----------------------------------------------------------------
Differential Brands Group Inc. filed with the Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing a
net loss attributable to common stockholders of $6.37 million on
$34.9 million of net sales for the three months ended March 31,
2016, compared to net income attributable to common stockholders of
$557,000 on $18.94 million of net sales for the same period in
2015.

As of March 31, 2016, Differential Brands had $168 million in total
assets, $115 million in total liabilities and $52.7 million in
total equity.

On Jan. 28, 2016, the Company completed the acquisition of all of
the outstanding equity interests of RG Parent LLC and its
subsidiaries, a business engaged in the design, development, sales
and licensing of apparel products and accessories that bear the
brand name Robert Graham.  

Michael Buckley, chief executive officer, commented, "With the
completion of the Merger, our focus has shifted to executing on our
omni-channel vision for the Company and creating the playbook for
future acquisitions."  Mr. Buckley continued, "With the strength of
our brands under the Differential umbrella and the addition of a
seasoned merchant to our roster, we believe that we are well
positioned for organic growth in the back half of 2016."

Wholesale

Net sales for our Wholesale segment in the first quarter of fiscal

2016 increased to $25.6 million compared to $11.8 million in the
prior year comparative period.  Gross margins for our Wholesale
segment were 55% for the first quarter of fiscal 2016 compared to
53% in the prior year comparable quarter.  For the first quarter,
Wholesale operating expense increased to $4.4 million compared to
$1.4 million in the year ago period.  The Company's Wholesale
operating income increased to $9.6 million in the first quarter of
fiscal 2016 compared to $4.8 million in the prior year comparative
period.

Mr. Buckley commented, "With the addition of $19.9 million in pro
forma net sales from Hudson, our Wholesale division experienced
tremendous growth for the quarter."  Mr. Buckley continued, "Our
Wholesale division is our most mature channel and we continue to
explore opportunities for growth as we look for synergies between
the brands."

Consumer Direct

Net sales from the Company's Consumer Direct subdivision in the
first quarter increased to $8.8 million compared to $6.5 million in
the prior year comparative period.  The growth in retail sales was
partly driven by revenue contribution from growing our store base
and the addition of nine new Robert Graham stores during fiscal
2015.  Gross margins for our retail segment decreased to 66% from
77% in the year ago period and were impacted by liquidating
inventory in connection with the closure of the Joe's branded
retail stores retained following the Merger.  Excluding the
expenses related to retail store closures, the Company's Consumer
Direct operating loss would have decreased from $2.8 million to a
loss of $638,000.  Retail operating expense also increased on a
year over year basis as a result of additional expenses associated
with the addition of nine retail stores during fiscal 2015.

Mr. Buckley commented, "Our Consumer Direct subdivision, which
includes sales from our Robert Graham retail stores and Robert
Graham's and Hudson's e-commerce websites, has faced challenges
with traffic and consumer discretionary spending, including the
weakening of foreign currency against the dollar.  However, we are
in the process of implementing changes to our marketing and loyalty
programs, which we expect to increase customer traffic to drive
improvement in our sales comps in the back half of the year."

Corporate and Other

For the first quarter of fiscal 2016, the Company's Corporate and
Other expenses were $10.4 million compared to $5.0 million in the
first quarter a year ago.  Corporate and Other expenses increased
due to transaction related expenses in connection with the Merger.
Excluding the transaction and restructuring expenses, the Company's
Corporate and Other expenses would have increased to $7.1 million.

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

                     https://is.gd/o0t60r

                  About Differential Brands

Differential Brands Group Inc., formerly Joe's Jeans Inc., is a
platform that focuses on branded operating companies in the premium
space.  The Company's focus is on organically growing its brands
through a global, omni-channel distribution strategy while
continuing to seek opportunity to acquire accretive, complementary,
premium brands.  The Company's current brands are Hudson, a
designer and marketer of women's and men's premium branded denim
apparel, and Robert Graham, a sophisticated, eclectic style to the
fashion market as an American-based company with an intention of
inspiring a global movement.

Joe's Jeans Inc. has completed the merger combining Hudson Jeans
and Robert Graham.  Additionally, the company has been renamed
Differential Brands Group Inc. and will remain publicly listed on
NASDAQ under the ticker DFBG.

Differential Brands reported a net loss and comprehensive loss of
$32.3 million on $80.2 million of net sales for the year ended Nov.
30, 2015, compared to a net loss and comprehensive loss of $27.7
million on $84.2 million of net sales for the year ended Nov. 30,
2014.


DOLPHIN DIGITAL: Files Amended Articles to Effect Reverse Split
---------------------------------------------------------------
As previously reported in a Definitive Information Statement on
Schedule 14C, dated April 20, 2016, filed by Dolphin Digital Media,
Inc., a Florida corporation, the Company's Board of Directors and a
majority of its shareholders approved a reverse stock split of the
Company's issued and outstanding common stock, par value $0.015 per
share, on a 20 old for one new basis.  

On May 9, 2015, the Company filed with the Florida Department of
State Articles of Amendment to the Company's Articles of
Incorporation to effect the Reverse Stock Split, providing that the
Reverse Stock Split would become effective under Florida law on May
10, 2016.  The Reverse Stock Split did not affect the number of
authorized shares of Common Stock.  Any fractional shares resulting
from the Reverse Stock Split were rounded up to the nearest whole
share of Common Stock.

                    About Dolphin Digital

Coral Gables, Florida-based Dolphin Digital Media, Inc., is
dedicated to the twin causes of online safety for children and
high quality digital entertainment.  By creating and managing
child-friendly social networking websites utilizing state-of the-
art fingerprint identification technology, Dolphin Digital Media,
Inc. has taken an industry-leading position with respect to
internet safety, as well as digital entertainment.

Dolphin Digital reported a net loss of $4.05 million on $2.99
million of total revenue for the year ended Dec. 31, 2015, compared
to a net loss of $1.87 million on $2.07 million of total revenue
for the year ended Dec. 31, 2014.  As of Dec. 31, 2015, Dolphin
Digital had $2.92 million in total assets, $15.80 million in total
liabilities and a total stockholders' deficit of $12.87 million.

BDO USA, LLP, in Miami, Florida, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2015, citing that the Company has suffered recurring
losses from operations, negative cash flows from operations, and
does not have sufficient working capital.  These events raise
substantial doubt about the Company's ability to continue as a
going concern.


DORAL DENTAL: 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 Doral Dental, P.A.

Doral Dental, PA (Bankr. S.D. Fla., Case No. 16-13927) filed a
Chapter 11 Petition on March 21, 2016.  The Debtor is represented
by Joel M. Aresty, Esq.


DYNCORP INTERNATIONAL: Moody's Rates Planned 1st Lien Loan B1
-------------------------------------------------------------
Moody's Investors Service has assigned ratings to planned debts of
DynCorp International Inc., including a B1 first lien and Caa2
second lien rating, pursuant to the company's debt
refinancing/exchange offer.  The Ca rating of DI's senior unsecured
notes due July 2017 has been affirmed.

The Caa3 Corporate Family Rating and Negative rating outlook are
unaffected as the implementation of the exchange offer will be
deemed a limited default per Moody's definition.  The Speculative
Grade Liquidity Rating of SGL-4 has been affirmed, denoting a weak
liquidity position with a very high near-term debt service
requirement relative to cash on hand.

                        RATINGS RATIONALE

The pending debt exchange and a bank facility amendment entered in
April 2016 will help DI avoid a payment default as the company's
bank facility comes due in July.  The transaction as outlined in
the exchange offering memorandum will result in a better near-term
liquidity position and provide funding to help pursue new business
initiatives.

The company's debt load however would not decline and less than
full participation of the senior unsecured notes in the exchange
offer would leave a July 2017 stub bond maturity that could be as
much as $45.5 million (a 90% minimum participation threshold has
been set).  The amended bank facility, which is conditioned on
several items including the exchange transaction, contains a
feature whereby its maturity would accelerate to May 2017 if the
stub bonds are not refinanced through an equity or a junior debt
issuance.

If the transaction proceeds as outlined, we expect to add an "LD"
suffix to the Probability of Default Rating to denote the
distressed exchange on the unsecured notes, and raise the CFR to
Caa1 or Caa2 in recognition of the improved liquidity position. The
degree of CFR improvement will depend in part on the level of
senior unsecured note participation in the exchange.  If materially
all of the senior unsecured bonds participate in the exchange,
there would be no 2017 maturity and a CFR of Caa1 would be more
likely.  The presence of 2017 debt maturity risk would likely
result in a Caa2 CFR.

In the post-exchange capital structure, if any of the senior
unsecured bonds due 2017 remain, they will become effectively
subordinated to several relatively large secured debt classes.  The
Ca senior unsecured rating would therefore continue and has been
affirmed, with the loss given default assessment revised to LGD6
from LGD4, reflecting more severe loss potential.

Upward rating momentum of the CFR will depend on improvement to the
company's weak liquidity profile.  Downward rating movement of the
CFR could coincide with a default.

Assignments:

Issuer: DynCorp International Inc.
  Senior Secured Bank Credit Facilities, Assigned B1 (LGD2)
  Backed Senior Secured 2nd lien Regular Bond/Debenture (Local
   Currency), Assigned Caa2 (LGD4)

Affirmations:

Issuer: DynCorp International Inc.
  Speculative Grade Liquidity Rating, Affirmed SGL-4
  Senior Unsecured Regular Bond/Debenture Jul 1, 2017, Affirmed Ca

   (LGD6 from LGD4)

DynCorp International Inc., headquartered in McLean, VA, provides
mission-critical support services outsourced by US military,
non-military US governmental agencies and foreign governments.  The
company is an operating subsidiary of Delta Tucker Holdings, Inc.,
which is owned by affiliates of Cerberus Capital Management, LP.
Revenues in 2015 were $1.9 billion.

The principal methodology used in these ratings was Global
Aerospace and Defense Industry published in April 2014.


ECOSPHERE TECHNOLOGIES: William Brisben Holds 33.5% Stake
---------------------------------------------------------
In an amended Schedule 13D filed with the Securities and Exchange
Commission, William O. Brisben disclosed that as of May 4, 2016, he
beneficially owns 81,240,493 share of common stock of Ecosphere
Technologies, Inc., representing 33.5 percent of the shares
outstanding.  

On May 4, 2016, Ecosphere and Mr. Brisben entered into a loan
arrangement pursuant to which the Filing Person loaned the Issuer
$429,000 in exchange for a 10% secured convertible promissory note
convertible into shares of common stock of the Issuer at $0.115 per
share.  The loan matures Dec. 15, 2016.  As further consideration
for the loan, the Issuer also issued the Filing Person 13,547,826
five-year warrants to purchase shares of the Issuer's common stock,
exercisable at $0.115 per share.  The Filing Person also agreed to
extend the maturity of prior loans to the Issuer totaling
$2,475,000 in principal to Dec. 15, 2016.  In connection with the
foregoing, the Issuer issued the Filing Person an Amended and
Restated Note combining the principal amounts of all the Filing
Person's outstanding loans to the Issuer.

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

                        https://is.gd/h0mLYi

                    About Ecosphere Technologies

Stuart, Florida-based Ecosphere Technologies (OTC BB: ESPH) --
http://www.ecospheretech.com/-- is a water engineering,
technology licensing and environmental services company that
designs, develops and manufactures wastewater treatment solutions
for industrial markets.  Ecosphere, through its majority-owned
subsidiary Ecosphere Energy Services, LLC, provides energy
exploration companies with an onsite, chemical free method to kill
bacteria and reduce scaling during fracturing and flowback
operations.

Ecosphere reported a net loss of $23.06 million on $721,179 of
total revenues for the year ended Dec. 31, 2015, compared to a net
loss of $11.49 million on $1.11 million of total revenues for the
year ended Dec. 31, 2014.

As of Dec. 31, 2015, the Company had $2.13 million in total assets,
$10.76 million in total liabilities, $3.88 million in total
redeemable convertible preferred stock, and a total deficit of
$12.52 million.

Salberg & Company, P.A., in Boca Raton, Florida, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2015, citing that the Company reported a
net loss of $23,067,761 and $11,496,463 in 2015 and 2014,
respectively, and cash used in operating activities of $1,761,946
and $4,550,454 in 2015 and 2014, respectively.  At December 31,
2015, the Company had a working capital deficiency, stockholders'
deficit and accumulated deficit of $9,322,066, $12,218,672 and
$132,397,790 respectively.  These matters raise substantial doubt
about the Company's ability to continue as a going concern.


EIRE MCNAB: 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 Eire McNab, LLC.  

Eire McNab, LLC, sought protection under Chapter 11 of the
Bankruptcy Code in the Southern District of Florida (West Palm
Beach) (Case No. 16-14976) on April 6, 2016.  The petition was
signed by Mark Spillane, manager.

The Debtor is represented by Matthew S. Kish, Esq., at Kish Law
Firm, PLLC. The case is assigned to Judge Paul G. Hyman, Jr.

The Debtor estimated both assets and liabilities in the range of $1
million to $10 million.


ELDORADO GOLD: S&P Lowers CCR to 'BB-', Outlook Negative
--------------------------------------------------------
S&P Global Ratings said it lowered its long-term corporate credit
rating on Vancouver-based gold producer Eldorado Gold Corp. to
'BB-' from 'BB'.  The outlook is negative.

At the same time, S&P Global Ratings lowered its issue-level rating
on the company's senior unsecured notes to 'BB-' from 'BB'.

"The downgrade primarily reflects the revision to our financial
risk assessment on Eldorado to aggressive from intermediate
following the announcement of the sale of the company's mining
interests in China for gross proceeds of US$900 million," said S&P
Global Ratings credit analyst Jarrett Bilous.

"We believe the significant corresponding reduction in the
company's prospective earnings and cash flow will lead to core
credit ratios materially below our previous expectations.  We also
consider Eldorado to have weaker operating breadth given its
heightened reliance on its two largest mines in Turkey.  The
company's cash position is likely to sharply increase to about US$1
billion (net of taxes on the gross proceeds of the sale) on close
of the transaction, expected in the third to fourth-quarter of
2016.  However, we do not net cash from our estimate of Eldorado's
adjusted debt, based on the company's weak business risk profile
and expectation that the proceeds will be used mainly to fund the
company's pipeline of capital-intensive growth projects (including
Olympias and Skouries in Greece) rather than for debt repayment.
As a result, we now consider Eldorado to have aggressive financial
risk profile, which mainly incorporates an estimated funds from
operations (FFO)-to-debt ratio of about 20% over the next two years
and our expectation for increased volatility in its core credit
ratios," S&P noted.

S&P continues to view of Eldorado's business risk profile as weak,
albeit at the lower end of the range of this assessment, which
primarily reflects S&P's view of the company's limited operating
diversity, operations in higher-risk countries compared with
certain peer companies, and exposure to gold price volatility.

S&P considers the recent Greek government approvals for the
Skouries technical study and permit approvals at its Olympias
project as positive for Eldorado.  In S&P's view, the seemingly
improved relations between the company and the Greece Ministry of
Energy and the Environment reduce the risk of protracted delays in
development and increase the potential for material contributions
from these projects over the next few years.  S&P assumes low-cost
gold output from Olympias in 2017, which should reduce Eldorado's
reliance on its Kisladag mine.  However, the company remains
exposed to the associated operational and political risks that
could delay the ramp-up and contributions to earnings and cash
flow.

The negative outlook primarily reflects S&P's view of Eldorado's
heightened rating sensitivity to the ramp-up of its development
projects in Greece, following the material estimated decline in the
company's earnings and cash flow from the sale of its mining
interests in China.  In S&P's view, reduced visibility regarding
expected contributions from its development projects could weaken
our assessment of Eldorado's business risk or financial risk
profiles over the next 12 months.

S&P could lower the rating in the event that S&P expects Eldorado
to generate FFO-to-debt below 20% in the next two years.  In S&P's
view, this could result from slower-than-expected contributions
from its development projects, notably Olympias, which S&P
incorporates in its 2017 estimates.  Production delays and a
corresponding increase in Eldorado's prospective cash cost
position, in S&P's opinion, could also weaker its view of the
company's business risk profile and lead to a downgrade.

S&P could revise the outlook to stable if, over the next 12 months,
S&P believes the ramp-up of Eldorado's development projects will
progress generally in line or ahead of S&P's expectations, thereby
stabilizing the company's business risk profile.  In addition, S&P
would also expect the company to generate FFO-to-debt above 20%
while maintaining strong liquidity.


EMERALD FALLS: Section 341 Meeting of Creditors Set for May 23
--------------------------------------------------------------
A meeting of creditors will be held on May 23, 2016, at 1:00 p.m.,
according to a filing with the U.S. Bankruptcy Court for the
Eastern District of Oklahoma in the bankruptcy case of Emerald
Falls, LLC.  The meeting will be held at Third Floor, Room 306, US
Post Office & Courthouse, in Okmulgee, Oklahoma.

The court filing also states that Proofs of Claim are due by August
21, 2016, and the deadline to file complaint regarding
discharge/dischargeability is on July 22, 2016.

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

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

                       About Emerald Falls

Emerald Falls LLC operates as a community development company.  It
develops communities with amenities such as golf courses, country
club, swimming pools, Internet cafe, fitness facility, greenbelt
hike and bike trails, tennis courts, kids clubs, and fishing
ponds.

Emerald Falls filed a Chapter 11 bankruptcy petition (Bankr. E.D.
Okla. Case No. 16-80392) on April 23, 2016.  The petition was
signed by Lucia Carballo as manager.  The Debtor listed total
assets of $12.04 million and total debts of $21.68 million.  Conner
& Winters represents the Debtor as counsel.


EMMAUS LIFE: Files Copy of Investor Presentation with SEC
---------------------------------------------------------
Emmaus Life Sciences, Inc., furnished with the Securities and
Exchange Commission a copy of an investor presentation, which
maybe used from time to time by the Company at various investor and
analyst meetings.  These presentation materials are also available
at https://is.gd/Tj2WtU

                       About Emmaus Life

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

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

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

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


ENDO PHARMACEUTICALS: Bank Debt Trades at 2% Off
------------------------------------------------
Participations in a syndicated loan under which Endo
Pharmaceuticals is a borrower traded in the secondary market at
97.61 cents-on-the-dollar during the week ended Friday, May 13,
2016, according to data compiled by LSTA/Thomson Reuters MTM
Pricing.  This represents a decrease of 1.77 percentage points from
the previous week.  Endo Pharmaceuticals pays 300 basis points
above LIBOR to borrow under the $2.8 billion facility. The bank
loan matures on June 4, 2022 and carries Moody's N.R. rating and
Standard & Poor's N.R. rating.  The loan is one of the biggest
gainers and losers among 247 widely quoted syndicated loans with
five or more bids in secondary trading for the week ended May 13.


ENERGY FUTURE: Hunt Drops Bid for Oncor
---------------------------------------
Peg Brickley, writing for Dow Jones' Daily Bankruptcy Review,
reported that Hunt Consolidated Inc. has dropped its bid to salvage
the $17 billion buyout of Oncor, but is trying to put together a
new transaction for the electricity transmission business largely
owned by Energy Future Holdings Corp.

According to the report, investors, including a large group of
Energy Future creditors, walked away from the buyout after the
Public Utility Commission of Texas put conditions on the approval
of the transaction.

Hunt was going to ask the Texas PUC to reconsider its rulings,
which changed the economics of the deal, but Hunt on May 16 asked
Texas regulators to drop the matter, on the grounds that the deal
wouldn't close, the report related.

In the request for dismissal, Hunt lawyers said a new buyout
transaction is in the works that would keep Oncor in the hands of
Hunt, a Texas-owned company, the report further related.  "While we
wanted to have a rehearing on the order, it is obvious now that, as
written, the transaction will not close; So we believe that it is
best to clean the decks and start over," the report cited Hunt
spokeswoman Jeanne Phillips as saying.

As previously reported by The Troubled Company Reporter, citing
Bloomberg News, power generator NextEra Energy Inc. has renewed its
interest in buying Oncor Electric Delivery Co., as a rival takeover
deal shows signs of unraveling, according to two people familiar
with the talks.

NextEra made its position known after Oncor parent Energy Future
Holdings Corp. replaced its bankruptcy reorganization plan on May
1, the report said, citing people, who asked not to be named
discussing private negotiations. Under the original plan, its
most-profitable business would have been sold to a group led by
Hunt Consolidated Inc., the report related.

While that possibility still exists under the new structure, the
change freed Oncor up to be pursued by other bidders, Chief
Executive Officer Robert Shapard said at a Texas regulatory
hearing
May 4, the report further related.  "We are to work with all
parties interested in buying the company at this point," Shapard
said at the hearing, the report cited.

An Energy Future lawyer mentioned a "third party indication of
interest" in Oncor in a court hearing on an unrelated matter May
10, the report added.

                       About Energy Future

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

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

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

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

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

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

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

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

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

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


EP ENERGY: Moody's Lowers CFR to Caa1; Outlook Remains Negative
---------------------------------------------------------------
Moody's Investors Service downgraded EP Energy LLC's (EPE)
Corporate Family Rating to Caa1 from B3 and Probability of Default
Rating to Caa1-PD/LD from B3-PD.  The ratings on the secured term
loans were downgraded to B3 from B2 and the senior unsecured notes
were downgraded to Caa2 from Caa1.  The Speculative Grade Liquidity
Rating was raised to SGL-3 from SGL-4.  The ratings outlook remains
negative.

"EP Energy's senior notes repurchases will reduce its unsecured
debt by approximately 18%, while providing annual savings of nearly
$50 million," commented James Wilkins, a Moody's Vice President --
Senior Analyst.  "However, the company continues to have elevated
debt."

Issuer: EP Energy LLC

Ratings downgraded:

  Corporate Family Rating -- Caa1 from B3
  Probability of Default Rating -- Caa1-PD/LD from B3-PD (/LD
   appended)
  Senior secured second lien term loan due 2018 -- B3 (LGD3) from
   B2 (LGD3)
  Senior secured second lien term loan due 2019 - B3 (LGD3) from
   B2 (LGD3)
  Senior unsecured notes due 2020 -- Caa2 (LGD5) from Caa1 (LGD5)
  Senior unsecured notes due 2022 -- Caa2 (LGD5) from Caa1 (LGD5)
  Senior unsecured notes due 2023 -- Caa2 (LGD5) from Caa1 (LGD5)

Ratings raised:

  Speculative Grade Liquidity Rating - SGL-3 from SGL-4

Outlook:
  Outlook -- Negative

                        RATINGS RATIONALE

Moody's considers EPE's purchases of $609 million of debt at
significant discounts to par as a distressed exchange, which is an
event of default under Moody's definition of default.  Moody's has
appended the PDR with an "/LD" designation indicating a limited
default, which will be removed after three business days.  The
company bought $345 million of unsecured notes for $143 million in
cash at an average price of 47 in the first quarter 2016 and
subsequent to quarter-end, it also entered into agreements to buy
back another $264 million of debt ($226 million of notes and $38
million of the term loans) for $144 million.  The $609 million par
value of repurchased debt represents 18% of the company debt as of
year-end 2015.

EPE's Caa1 CFR reflects the company's high leverage, declining
production volumes and cash flows as well as our expectation that
the company's credit metrics will worsen significantly in 2017,
when its hedged production volumes decline significantly.  EPE had
approximately $4.3 billion of long-term balance sheet debt as of
March 31, 2016, (before the sale of its Haynesville assets), and
annual cash interest expense of nearly $300 million.  The high
interest burden added $8.88 per boe to its cost structure in the
first quarter 2016.  The company's favorable hedge portfolio
buffers it from the full effects of low commodity prices.  Hedges
will cover over three quarters of expected oil production in for
the last three quarters of 2016, but only one-quarter of estimated
production volumes in 2017, so the company's cash flows will
decline steeply at Moody's price deck (WTI crude oil at $38/bbl in
2017).  Moody's expects EPE will generate RCF to debt of around 5%
and its interest coverage will decrease to less than 2x in 2017.
EPE closed on the sale of its Haynesville assets in May 2016, and
reduced its revolver borrowings with the $420 million sales
proceeds.  The portfolio realignment will provide some uplift to
unit margins, as a greater proportion of production will be
weighted towards crude oil.

The SGL-3 Speculative Grade Liquidity Rating reflects our
expectation EPE will maintain adequate liquidity through mid-2017.
Its liquidity is supported by balance sheet cash ($91 million as of
March 31, 2016) and $850 million of availability under its $1.65
billion first lien revolving credit facility due May 2019. At
Moody's price deck ($33/bbl oil in 2016 and $38/bbl oil in 2017)
the company will generate negative free cash flow in 2017, but we
expect the revolver will have adequate borrowing capacity to fund
the outspend of cash flow from operations.  EPE's spring 2016
borrowing base redetermination resulted in the borrowing base being
lowered to $1.65 billion due to lower commodity prices and
Haynesville asset sale (~$200 million impact).  The company has
also moved from a maximum 4.5x consolidated leverage test to a
financial covenant limiting its first lien debt / EBITDAX to no
greater than 3.5x, which we expect EPE will be able to comply with
through mid-2017.  The next debt maturity is in May 2018 when its
second lien secured term loan ($467 million balance as of 31 March
2016) is due.

The rating outlook is negative, reflecting the difficult operating
environment with low commodity prices.  The ratings could be
downgraded if liquidity deteriorates or retained cash flow to debt
is expected to remain below 5% for a sustained period.  An upgrade
would be considered if the company reduces its debt and maintains
RCF to debt above 15% while growing production or keeping
production relatively flat.

The principal methodology used in these ratings was Global
Independent Exploration and Production Industry published in
December 2011.

EP Energy LLC, headquartered in Houston, Texas, is an independent
exploration & production company.


EXOTICA ACADEMY: Wants Exclusive Plan Filing Extended by 60 Days
----------------------------------------------------------------
Exotica Academy, Inc., asks the U.S. Bankruptcy Court for the
Southern District of Florida to extend for 60 days the statutory
exclusive periods for filing and soliciting acceptances of a
Chapter 11 plan.

The Debtor's exclusive period to file a plan expires May 18, 2016,
and its exclusive period to solicit acceptances for the plan
expires July 17, 2016.

The Debtor has commenced monthly interest payments to its first
mortgagee, Bank of the West, in an agreed amount to adequately
protect the Bank while pursuing a sale of its property to a
qualified buyer in an amount sufficient to pay the first mortgage
in full.  The Debtor says that sufficient cause exists to extend
the Exclusive Periods based upon Debtor's continuing efforts to
pursue a sale of its property while commencing monthly interest
payments to its first mortgagee to adequately protect its interest
in the property.

The Section 341 meeting of creditors was held and concluded on Feb.
19, 2016, at 10:30 a.m.  The pre-petition claims bar date is May
19, 2016.

Exotica Academy, Inc., owns a commercial building located at 6229
Miramar Parkway, Miramar, Florida, where it operated its hair
stylist training academy pre-petition.

It filed for Chapter 11 bankruptcy protection (Bankr. S.D. Fla.
Case No. 16-10749) on Jan. 19, 2016.  The Debtor is represented by
Nathan G. Mancuso, Esq., at Mancuso Law, P.A.


FBM LEASING: 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 FBM Leasing Corp.  

FBM Leasing Corp. sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. Fla. Case No. 16-14099) on March 23,
2016.  The Debtor is represented by Brett A. Elam, Esq., at Farber
+ Elam, LLC.


FEDERAL IDENTIFICATION: Case Summary & 20 Top Unsecured Creditors
-----------------------------------------------------------------
Debtor: Federal Identification Card Co., Inc.  
           d/b/a PTM Sport
        c/o Ciardi Ciardi & Astin
        2005 Market Street
        One Commerce Square, Suite 3500
        Philadelphia, PA 19103

Case No.: 16-13496

Chapter 11 Petition Date: May 17, 2016

Court: United States Bankruptcy Court
       Eastern District of Pennsylvania (Philadelphia)

Judge: Hon. Ashely M. Chan

Debtor's Counsel: Albert A. Ciardi, III, Esq.
                  CIARDI CIARDI & ASTIN, P.C.
                  One Commerce Square
                  2005 Market Street, Suite 3500
                  Philadelphia, PA 19103
                  Tel: (215) 557-3550
                  Fax: 215-557-3551
                  E-mail: aciardi@ciardilaw.com

                           - and -

                  Jennifer E. Cranston, Esq.
                  CIARDI CIARDI & ASTIN, P.C.
                  One Commerce Square
                  2005 Market Street, Suite 3500
                  Philadelphia, PA 19103
                  Tel: 215 557 3550
                  E-mail: jcranston@ciardilaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Louis N. Leof, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/paeb16-13496.pdf


FIREBIRD ENTERPRISES: Hires Darling Milligan as Special Counsel
---------------------------------------------------------------
Firebird Enterprises LLC seeks permission from the U.S. Bankruptcy
Court for the District of Colorado to employ Darling Milligan
Horowitz PC as special counsel, nunc pro tunc to May 16, 2016, with
a prepetition retainer in the amount of $2,500.

Prepetition, the Firm represented the Debtor in its defense of an
eviction proceeding commenced by the lessor 112th and Sheridan
Development, LLC, in Adams County, Colorado.  The bankruptcy filing
stayed the State Court Litigation.  However, the Lessor has moved
for relief from stay to continue the matter, with an objection
deadline of June 2, 2016, and a hearing scheduled for June 9, 2016.
For the Debtor to adequately defend itself against the Motion for
Relief from Stay and the State Court Litigation if the Motion is
granted in whole or in part, the Debtor seeks the
expertise and learned knowledge of the Firm.

J. Gregory McAuliffe, Esq., the attorney at the Firm who will
primarily represent the Debtor, will be paid $325 per hour.
Paralegal time will be billed at $120 per hour.

Prepetition, the Firm received this transfer for a retainer from
"Sunshine Appraisals, Inc., dba Phenix Salon Suites Westminster"
via check: $5,000 (dated May 2, 2016).  Prepetition, the Firm drew
down $2,500 of the retainer, and is currently holding the balance
in trust, for which it seeks court-approval.

The Debtor believes that the Firm is well-qualified to represent it
in an efficient and timely manner, and it possesses expertise in
the areas of law relevant to this case.  In addition, the Debtor
believes that employment of the Firm is necessary and appropriate
because any change in counsel is likely to result in inefficiencies
and higher cost.  If approved, the Firm and undersigned bankruptcy
counsel will ensure that no duplicative services are rendered.

The Debtor assures the Court that the Firm is "disinterested", as
defined in 11 U.S.C. Section 101(14), and has no connection with
the Debtor, its creditors or any other party in interest, or their
respective attorneys, and does not represent any interest adverse
to the Debtor to the extent required by 11 U.S.C. Sections 327(a)
and (e) and Fed. R. Bankr. P. 2014.

The Firm can be reached at:

      J. Gregory McAuliffe, Esq.
      DARLING MILLIGAN HOROWITZ PC
      Attorneys at Law
      1331 17th Street, Suite 800
      Denver, CO 80202
      Tel: (303) 623-9133
      Fax: (303) 623-9129
      E-mail: gmcauliffe@dmhlaw.net

Firebird Enterprises LLC is a franchisee of Phenix Salon Suites
doing business as Phenix Salon Suites Westminster.  It provides
developed commercial space in Westminster, Colorado for salon
professionals to conduct their business.  Its prime lease is with
lessor 112th and Sheridan Development, LLC.

The Debtor filed for Chapter 11 bankruptcy protection (Bankr. D.
Colo. Case No. 16-14455) on May 5, 2016.

The Debtor is represented by its bankruptcy counsel:

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


FIRST ONE HUNDRED: 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 First One Hundred LLC.

First One Hundred LLC (Bankr. S.D. Fla., Case No. 16-13973) sought
protection under Chapter 11 of the Bankruptcy Code on March 21,
2016.  The Debtor is represented by Zach B Shelomith, Esq., at
Leiderman Shelomith, PA.


FORTESCUE METALS: Bank Debt Trades at 7% Off
--------------------------------------------
Participations in a syndicated loan under which Fortescue Metals
Group Ltd is a borrower traded in the secondary market at 93.21
cents-on-the-dollar during the week ended Friday, May 13, 2016,
according to data compiled by LSTA/Thomson Reuters MTM Pricing.
This represents a decrease of 1.90 percentage points from the
previous week.  Fortescue Metals pays 275 basis points above LIBOR
to borrow under the $4.950 billion facility. The bank loan matures
on June 13, 2019 and carries Moody's Ba2 rating and Standard &
Poor's BB+ rating.  The loan is one of the biggest gainers and
losers among 247 widely quoted syndicated loans with five or more
bids in secondary trading for the week ended May 13.


FREEPORT-MORAN INC: Egan-Jones Cuts FC Sr. Unsec. Rating to B+
--------------------------------------------------------------
Egan-Jones Ratings Company lowered the foreign currency senior
unsecured rating on debt issued by Freeport-McMoRan Inc. to B+ from
BB+ on May 5, 2016.

Freeport-McMoRan Inc., is an international natural resources
company.  The Company operates large, long-lived, geographically
diverse assets with significant reserves of copper, gold,
molybdenum, cobalt, oil and gas.


GLENN POOL: Moody's Lowers Rating on Sr. Secured Notes to B3
------------------------------------------------------------
Moody's Investors Service has downgraded the senior secured notes
issued by Glenn Pool Oil & Gas Trust II (Trust II).  The senior
secured notes are backed by hydrocarbon deliveries under a 10-year
volumetric production payment (VPP) agreement between Trust II and
Chesapeake Exploration, L.L.C., (CELLC), a wholly-owned subsidiary
of Chesapeake Energy Corporation (Chesapeake).  Approximately 3,300
oil and gas wells in northern Oklahoma are the subject wells to the
VPP agreement.

The complete rating action is:

Issuer: Glenn Pool Oil & Gas Trust II

  Senior Secured Notes, Downgraded to B3 (sf); previously on
   Feb. 19, 2016, Downgraded to Ba3 (sf) and Placed Under Review
   for Possible Downgrade

                         RATINGS RATIONALE

The rating action is driven by deterioration in Chesapeake's
overall credit profile, which increases the risk that it could
default on its various operating obligations that could cause
interruptions in production, as well as by the decline in
production volume, number of economically producible wells and
quantity and valuation of the proved reserves backing the VPP.

CELLC is the seller and main operator of the wells and has an
obligation to purchase all of the hydrocarbon deliveries under the
VPP.  Chesapeake guarantees the performance and payments by CELLC
and it was downgraded to Caa2 CFR with a negative outlook on Feb.
22, 2016.  The Caa2 CFR reflects Chesapeake's very weak cash flow
generation capacity at Moody's commodity price assumptions relative
to its high debt levels and weak liquidity resulting in an
unsustainable capital structure.  Given the current challenging
environment for the oil and gas industry and marginal profitability
of the VPP wells at current commodity prices, it may be difficult
to find an alternative operator and purchaser if needed.

In addition, although the production coverage ratio (90% of actual
production over required production volume under the VPP) is
currently still above 1.0x, it has continued to decline since
closing.  The transaction does not prohibit CELLC from abandoning,
shutting in or restricting the flow from uneconomical wells as long
as CELLC operates in accordance with prudent industry standards.
With the decline in oil and gas prices over the past year, the
number of economically producible wells has declined.  As a result,
the independent reserve engineer's report we received in April
shows that the estimated value of the reserves, in compliance with
the engineering report required by the transaction documents, has
decreased more than 85% from the reported value a year earlier.
The estimated volume of reserves has also decreased substantially.
Although Trust II has a first-priority mortgage lien on the
retained interest in the wells, the estimated value of the reserves
over the remaining VPP term of about five years is currently less
than the outstanding balance of the notes.

There is a mechanism in the transaction for making up any potential
shortfalls in VPP production by Trust II having a claim on
subsequent months' production to replace the undelivered volume
and, if needed, extending the termination date of the VPP until the
entire scheduled volume is fulfilled.  However, the legal final
maturity of the notes of Aug. 2, 2021, is only three months after
the final scheduled VPP payment on May 3, 2021.  The cushion of
three months may not be sufficient in the case of significant
interruptions or declines in the production and timely delivery of
hydrocarbons for any reason.

Trust II will continue to benefit from commodity swap payments. Low
oil and gas prices result in higher swap payments to the trust, and
the swap payments to the trust are currently sufficient to service
monthly interest and part but not all of the principal payments to
noteholders.

The principal methodology used in this rating was "Moody's Approach
to Rating Operating Company Securitizations" published in December
2015.

Factors that would lead to a downgrade of the rating:

The rating could be downgraded if the actual production falls below
the scheduled VPP delivery requirements or if Chesapeake fails to
perform on its obligations.  The rating could be upgraded if
Chesapeake's credit ratings were upgraded and the production
coverage ratio is increased.


GRAND ABBACO DEVELOPMENT: 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 Grand Abbaco Development of Village West Corp.


Grand Abbaco Development of Village West Corp. sought protection
under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Case No.
16-14286) on March 27, 2016.  The Debtor is represented by Michael
Marcer, Esq., at Marrero, Chamizo, Marcer Law, LP.


GRASS VALLEY: Wants Exclusive Plan Filing Deadline Moved to Nov. 9
------------------------------------------------------------------
Grass Valley Holdings, LP, asks the U.S. Bankruptcy Court for the
District of Utah to extend by an additional six months the
exclusive periods for the Debtor to propose and solicit acceptances
of a plan of reorganization, to and including Nov. 9, 2016, and
Jan. 9, 2017, respectively.

A hearing on the motion is set for May 31, 2016, at 11:00 a.m.

The Debtor says that it has acted in a timely manner to attempt to
obtain an expeditious liquidation of the claim of Garth O. Green
Enterprises.  As of the Petition Date, Green Enterprises had
asserted claims against the Debtor in a lawsuit styled Garth O.
Green Enterprises, Inc., et al. v. Harward, et al., Case No.
130400184 in the Fourth Judicial District Court for Utah County,
State of Utah.  The amended complaint in the Green Enterprises
lawsuit alleged that Green Enterprises was entitled to the
equitable relief of being awarded possession of leasehold interests
in five commercial properties owned by the Debtor, and also sought
damages in an unliquidated amount that Green Enterprises asserted
was not less than $5,424,545.

The Debtor promptly filed a motion to estimate the claims in the
District Court upon the Bankruptcy Court ruling that reference of
the liquidation of those claims had been withdrawn to the District
Court, which then referred the estimation motion to the Bankruptcy
Court.  An evidentiary hearing on estimating the claims has been
scheduled for Sept. 21-22, 2016.

The Debtor admits that it would be difficult to formulate a
workable plan of reorganization prior to liquidation of the claims
of Green Enterprises and estimation of the claim of Standard
Plumbing Supply Company, Inc., which asserted a cross-claim against
the Debtor in the Green Enterprises Lawsuit seeking damages in an
unspecified amount.

The Debtor says that extending the Exclusive Periods until after
the evidentiary hearing on the estimation of the large unsecured
claims of Green Enterprises and Standard Plumbing is necessary to
afford the Debtor a full and fair opportunity to rehabilitate its
business, preserve equity in its commercial properties, and to
negotiate and propose a reorganization plan without the disruption
and deterioration of its business that might be caused by the
filing of competing plans of reorganization by non-debtor parties.

                   About Grass Valley Holdings, L.P.

Based in Springville, Utah, Grass Valley Holdings, L.P., is a
holding company for real property located in Utah as well as an
interest in real property located in Idaho Falls, Idaho.

Grass Valley Holdings commenced a Chapter 11 bankruptcy case
(Bankr. D. Utah Case No. 15-24513) in Salt Lake City, Utah, on May
15, 2015.

The Debtor disclosed $21,478,874 in assets and $13,187,245 in
liabilities as of the Chapter 11 filing.

The case is assigned to Judge R. Kimball Mosier.  The Debtor is
represented by Gary E. Jubber, Esq., and Douglas J. Payne, Esq.,
at Fabian and Clendinin, in Salt Lake City.


GREENVIEW BUILDERS: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Greenview Builders and Cabinetry Designers, Inc.
           fdba Greenview Homes
        440 N. Milwaukee Ave.
        Lincolnshire, IL 60069

Case No.: 16-16636

Chapter 11 Petition Date: May 17, 2016

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

Judge: Hon. Deborah L. Thorne

Debtor's Counsel: Harold D. Israel, Esq.
                  GOLDSTEIN & MCCLINTOCK LLLP
                  208 South LaSallle Street, Suite 1750
                  Chicago, IL 60604
                  Tel: 312 337-7700
                  E-mail: haroldi@restructuringshop.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Yuri M. Birg, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/ilnb16-16636.pdf


GRIFFON CORP: Moody's Affirms B1 CFR; Outlook Stable
----------------------------------------------------
Moody's Investors Service affirmed Griffon Corporation's B1
Corporate Family Rating and B1-PD Probability of Default Rating. At
the same time, Moody's downgraded the rating on the company's
senior unsecured notes to B2 from B1, which was in accordance with
Moody's Loss Given Default model (LGD) and is reflective of the
newly proposed capital structure that takes into consideration the
$100 million add-on to the company's existing senior unsecured
notes.  If the company upsizes and were to issue more than $125
million the ratings could face pressure.  On a pro forma basis the
notes have a balance of $700 million, up from $600 million prior to
the transaction.  Concurrent with this rating action, Moody's also
affirmed the company's SGL-2 Speculative Grade Liquidity rating.
The outlook is maintained at stable.

Proceeds from the proposed $100 million of incremental debt, net of
an estimated $2.5 million of fees and expenses, will be used to
repay a healthy portion of outstanding borrowings on the company's
$350 million revolving credit facility (not rated by Moody's).  Pro
forma for the transaction, the revolving credit facility will have
a balance of approximately $25.0 million as the current outstanding
balance is approximately $122.5 million.  The transaction is
effectively leverage neutral but improves the company's liquidity
in the near-term.  However, the company has $100 million principal
convertible notes that mature in January 2017 (not rated by
Moody's).  After July 15, 2016, holders have the option of holding
the notes to maturity or putting the notes to Griffon for
settlement.  Griffon has the option to settle in cash, stock or a
combination of cash and stock, and Moody's believes the revolver
will be a likely source of funding for any portion funded with
cash.  The eventual retirement of the convertible notes will reduce
the amount of subordinated obligations in the company's capital
structure, but all else being equal, there is expected to be no
rating impact on the senior unsecured notes in connection with the
repayment of the convertible notes.

"We affirmed Griffon's corporate family rating because we expect
improvement in the company's credit metrics, which are relatively
weak for the B1 rating category" said Brian Silver, AVP - Analyst
at Moody's Investors Service.  "Griffon's operating margins are
expected to strengthen following recently completed restructuring
initiatives and an ongoing capacity expansion geared toward higher
margin products, which will ultimately drive deleveraging."

These ratings were affirmed at Griffon Corporation:

  Corporate Family Rating at B1;
  Probability of Default Rating at B1-PD;
  Speculative Grade Liquidity Rating at SGL-2.

This rating was downgraded at Griffon Corporation:

  $600 million senior unsecured notes due 2022 to B2 (LGD4) from
   B1 (LGD4).

This rating was assigned at Griffon Corporation (subject to final
documentation):

  $100 million senior unsecured notes due 2022 at B2 (LGD4).

The rating outlook is maintained at stable.

                         RATINGS RATIONALE

Griffon's B1 Corporate Family Rating reflects its high leverage,
mid-single digit operating margins and relatively modest revenue
size within each of its operating segments.  Moody's expects the
company to achieve moderate organic revenue growth during the next
12 to 18 months along with some margin improvement stemming from
cost saving initiatives, chief among them being ongoing benefits
from a plant consolidation effort in the Ames business.  The
Telephonics business, which specializes in radar and other
surveillance equipment mostly for US Government military
application, continues to face some uncertainty with respect to
government defense spending, but a healthy backlog at March 31,
2016 eases near-term concerns.  Plastics is expected to continue to
face top-line pressure stemming from volume weakness related to
FY15 product rationalizations, while the Home & Building Product
segment is expected to continue to benefit from improvement in the
US housing market.  In addition, Moody's views the company's
leading market position in many of its product segments favorably
and we expect the company to maintain a good liquidity profile over
the next year.

The stable outlook reflects Moody's view that credit metrics will
moderately improve during the next twelve months assuming no major
shocks to the US housing market.

Griffon's ratings could be upgraded if credit metrics improve such
that debt-to-EBITDA is sustained at less than 4.0 times,
EBIT-to-interest approaches 2.0 times, and operating margins move
toward the high single digit range.  Alternatively, the ratings
could be downgraded if leverage, as measured by adjusted
debt-to-EBITDA, is sustained above 5.5 times during the next twelve
months, if adjusted operating margins begin to approach 4% or if
interest coverage, as measured by EBIT-to-interest, falls below 1.5
times. Additional factors that could lead to a downgrade include a
material weakening of liquidity, significant share buybacks, or if
the company engages in a large debt-financed acquisition.

The principal methodology used in these ratings was Consumer
Durables Industry published in September 2014.

Griffon Corporation (NYSE:GFF) is a diversified management and
holding company that conducts business through its wholly-owned
subsidiaries.  Griffon currently conducts its operations through
three reportable segments: Home & Building Products (approximately
52% of FY15 revenues), Clopay Plastic Products Company ("PPC")
(27%), and Telephonics Corporation (21%).  Home & Building Products
consists of two companies, The AMES Companies ("AMES") and Clopay
Building Products.  AMES is a Global provider of non-powered
landscaping products for homeowners and professionals. CBP is a
leading manufacturer and marketer of residential, commercial and
industrial garage doors to professional dealers and major home
center retail chains.  Telephonics develops and manufactures
high-technology, integrated information, communication and sensor
system solutions for military and commercial markets worldwide. PPC
is an international leader in the development and production of
embossed, laminated and printed specialty plastic films used in a
variety of hygienic, health-care and industrial applications.
Griffon had total revenue of approximately $2 billion for the
twelve month period ended March 31, 2016.


HARVEST OPERATIONS: S&P Lowers LT CCR to 'CC', Outlook Negative
---------------------------------------------------------------
S&P Global Ratings said it lowered its long-term corporate credit
rating on Calgary, Alta.-based Harvest Operations Corp. to 'CC'
from 'CCC+'.  The outlook is negative.  At the same time, S&P
Global Ratings lowered its issue-level rating on the company's 2017
U.S. senior unsecured notes to 'CC' from 'CCC+'.  The recovery
rating on the notes is unchanged at '4', indicating S&P's
expectation of average recovery (30% to 50%, at the upper end of
the range) under our simulated default scenario.

The downgrade follows Harvest's announcement that it has launched a
tender offer to existing holders of its 6.875% senior unsecured
notes due October 2017.  The exchange offer is for 90 cents on the
dollar and will extend the maturity date to 2021.  The expected
closing date is June 16, 2016.

"We view the transaction as a distressed exchange because investors
will receive less than what was promised on the original
securities," said S&P Global Ratings credit analyst Michelle
Dathorne.

The outlook is negative.  S&P intends to lower the corporate credit
rating to 'SD' (selective default) and the senior unsecured notes
(2017) rating to 'D' (default) on the exchange's completion.
Subsequently, S&P would reassess the company's prospective credit
profile, and assign a long-term corporate credit rating and outlook
that would reflect S&P's assessment of its business and financial
risk profiles, based on its revised capital structure. S&P could
raise the ratings if the transaction does not close.


HAWK OIL FIELD: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Hawk Oil Field Service, Inc.
        226 Las Palmas Road
        Zapata, Tx 78076

Case No.: 16-50108

Chapter 11 Petition Date: May 17, 2016

Court: United States Bankruptcy Court
       Southern District of Texas (Laredo)

Judge: Hon. Eduardo V Rodriguez

Debtor's Counsel: Adolfo Campero, Jr., Esq.
                  CAMPERO & ASSOCIATES, P.C.
                  315 Calle Del Norte, Ste 207
                  Laredo, TX 78041
                  Tel: 956-796-0330
                  Fax: 956-796-0399
                  E-mail: acampero@camperolaw.com

Total Assets: $3.94 million

Total Liabilities: $1.27 million

The petition was signed by Roberto Lopez, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/txsb16-50108.pdf


HECK INDUSTRIES: $237,000 Sale of Cement Trucks Approved
--------------------------------------------------------
Concrete supplier Heck Industries, Inc., on May 16, 2016, won
approval from the U.S. Bankruptcy Court for the Middle District of
Louisiana to sell 10 cement trucks to Randy Weeks, a resident of
the State of Georgia.  The Debtor agreed to sell the Cement Trucks
to Weeks for a lump sum payment of $237,000.  The Debtor is
authorized and directed to pay to Investar Bank the amount it is
owed for the trucks which it holds as collateral.  The remaining
proceeds will be paid to the Debtor.

                       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, Louisiana 70817
         Telephone: 225-751-1751
         Fax: 225-751-1998
         E-mail: nmelancon@steffeslaw.com


HESS CORP: Egan-Jones Lowers Sr. Unsecured Ratings to BB-
---------------------------------------------------------
Egan-Jones Ratings Company downgraded the senior unsecured ratings
on debt issued by Hess Corp. to BB- on May 5, 2016.

Hess Corporation is a global independent energy company engaged in
the exploration and production of crude oil and natural gas.



HILLSIDE OFFICE: Case Summary & 13 Unsecured Creditors
------------------------------------------------------
Debtor: Hillside Office Park, LLC
        1350 Liberty Avenue
        Hillside, NJ 07205

Case No.: 16-19617

Chapter 11 Petition Date: May 17, 2016

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

Judge: Hon. Stacey L. Meisel

Debtor's Counsel: Donald F. Campbell, Jr., Esq.
                  GIORDANO HALLERAN & CIESLA, P.C.
                  125 Half Mile Road, Suite 300
                  Red Bank, NJ 07701
                  Tel: 732-741-3900
                  Fax: 732-224-6599
                  E-mail: dcampbell@ghclaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Glen A. Fishman, member of Maplewood
Acquisition, LLC, member.

A list of the Debtor's 13 largest unsecured creditors is available
for free at http://bankrupt.com/misc/njb16-19617.pdf


HILTON WORLDWIDE: Moody's Raises CFR to Ba2; Outlook Stable
-----------------------------------------------------------
Moody's Investors Service upgraded the long term ratings of Hilton
Worldwide Finance, LLC including its Corporate Family Rating to Ba2
and Probability of Default Rating to Ba2-PD.  At the same time,
Moody's affirmed Hilton's Speculative Grade Liquidity rating at
SGL-1.  The rating outlook is stable.  This rating action concludes
the review for upgrade initiated on Feb. 26, 2016.

The upgrade reflects the substantial progress Hilton has made in
reducing leverage by repaying debt and growing EBITDA.  For the
twelve months ended March 31, 2016, debt to EBITDA has fallen to
4.2x from 5.1x at fiscal 2014.  EBITA to interest expense also
improved to 3.6x from 2.9x.  The pending spin-offs of the real
estate and timeshare businesses will weaken Hilton's leverage.
Assuming that the securitized debt will go with the newly formed
timeshare company and that the CMBS debt and mortgage debt will go
into the newly formed REIT, Moody's estimates that pro forma for
the spin-offs debt to EBITDA will increase to between 4.75x and
5.2x (as adjusted by Moody's for operating leases).  However, the
upgrade acknowledges that the increase in debt to EBITDA will only
be temporary.  Moody's estimates that debt to EBITDA will approach
4.5x within the next twelve to eighteen months.

The upgrade also reflects that Moody's view that Hilton's decision
to spin-off its real estate and timeshare business is a credit
positive given the higher risk associated with these two
businesses.  Both the timeshare business and real estate business
are capital intensive and generate lower margins than Hilton's
management and franchise business.  In addition, Moody's views the
owned/leased hotel business as being more exposed to economic
downturns given the high fixed costs associated with owned/leased
hotels which results in more earnings volatility than compared to
the management and franchise business.  Moody's estimates that the
spin-offs will result in a sizable increase in Hilton's operating
margins, albeit its revenue base will be significantly smaller.

"Hilton continues to generate solid earnings growth despite facing
weak occupancy growth and after the spin-offs its remaining
management and franchise business will be less exposed to cyclical
downturns," stated Maggie Taylor, Senior Vice President at
Moody's.

These ratings are upgraded:

  Corporate Family Rating to Ba2 from Ba3
  Probability of Default Rating to Ba2-PD from Ba3-PD
  Senior secured bank credit facilities to Ba1, LGD 3 from Ba2,
   LGD 3
  BACKED Senior unsecured notes to Ba3, LGD 5 from B2, LGD 5

This rating is affirmed

  Speculative Grade Liquidity rating at SGL-1

                         RATINGS RATIONALE

Hilton's Ba2 Corporate Family Rating reflects its large scale (with
about 765,000 rooms), well recognized brands, and good
diversification by geography and industry segment.  The rating also
acknowledges its moderate leverage and good interest coverage.  The
rating encompasses Moody's view that the lodging cycle is set to
slow as a result of flattening occupancy and demand growth but that
hotel operators will be able to maintain moderate pricing power
which will drive a modest growth in revenue per available room.
The rating is also supported by Hilton's very good liquidity as
provided by its sizable free cash flow and $1 billion revolving
credit facility.

The stable outlook acknowledges that Moody's expects Hilton to
maintain a balanced financial policy and good liquidity.  It also
acknowledges Moody's expectation that the increase in leverage
following the spin-offs is temporary and that leverage will return
to levels appropriate for the Ba2 rating over the next twelve to
eighteen months.

Ratings could be upgraded if should Hilton achieve and maintain
debt/EBITDA (Moody's adjusted basis) below 4.25 times and
EBITA/interest expense of at least 4.0 times.  An upgrade would
also require Hilton maintaining a financial policy that supports
credit metrics remaining within these levels.

Ratings could be lowered should debt/EBITDA likely being sustained
above 4.75 times or EBITA to interest expense likely to remain
below 3.0 times.

Hilton Worldwide Holdings Inc. is a leading hospitality company
with more than 4,600 managed, franchised, owned and leased hotels,
resorts and timeshare properties comprising about 765,000 rooms in
102 countries and territories.  Affiliates of The Blackstone Group
L.P. own approximately 45.8% of Hilton.  Annual net revenues (prior
to the spin-offs) are over $7.1 billion.

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


HOLDER GROUP: Banks Object to Payment of Scherer, Trustee Fees
--------------------------------------------------------------
The Troubled Company Reporter previously reported that The Holder
Group Sundance, LLC, asked the U.S. Bankruptcy Court for the
District of Nevada to dismiss its Chapter 11 case because "there
are no remaining assets for the Debtor to administer or to continue
to need the protection of the Bankruptcy Court, and there is no
ability to file a plan of reorganization."

The Debtor also said "all unpaid fees and costs owed to the
Debtor's general bankruptcy counsel and examiner will be paid from
the proceeds of the purchase of the "bank roll," which will be paid
by Winners in monthly payments of $2,500 until the total of $38,000
is paid in full.

Plumas Bank and Nevada State Bank said they are not objecting the
Debtor's request for dismissal but asserts that the dismissal
should not affect the casino tenants' obligations under their
leases.  The lease payments are the subject to Plumas Bank's Motion
to Remit Lease Payments, which will survive both the dismissal of
the case and the foreclosure sale.

The Secured Creditors also conveyed that they will be filing
pleadings with regard to a resolution they have agreed on the
issues framed in the "Turn Over Motion," which will control the
Debtor's distribution of the casino lease payments to Plumas Bank
and/or Nevada State Bank, including the surcharge for the benefit
of George Swarts and The O'Reilly Law Firm.

Although the Secured Creditors have no objection to the casino
tenant making the "bank roll" payments to Harris Law Practice, LLC,
for the funding of the pro rata payments to the administrative
claimants, however, the Secured Creditors objects to other monthly
obligations of the casino tenant, including without limitation the
payment of the Trustee fees and fees pertaining to Scott Scherer,
Esq.

Plumas Bank is represented by:

       John Samberg, Esq.
       Simon Aron, Esq.
       WOLF, RIFKIN, SHAPIRO, SCHULMAN & RABKIN, LLP
       5594-B Longley Lane
       Reno, Nevada 89511
       Telephone: (775) 853-6787
       Facsimile: (775) 853-6774
       Email: jsamberg@wrslawyers.com
              saron@wrslawyers.com

Nevada State Bank is represented by:

       Stefanie T. Sharp, Esq.
       ROBISON, BELAUSTEGUI, SHARP & LOW
       A Professional Corporation
       71 Washington Street
       Reno, Nevada 89503
       Telephone: (775)329-3151
       Facsimile: (775)329-7169
       Email: ssharp@rbsllaw.com

                          About The Holder Group Sundance

Reno, Nevada-based The Holder Group Sundance, LLC, filed a Chapter
11 bankruptcy petition (Bankr. D. Nev. Case No. 15-50157) on Feb.
9, 2015.  The petition was signed by Harold D. Holder Sr., the
manager.  Stephen R Harris, Esq., at Harris Law Practice LLC serves
as the Debtor's counsel.

The Debtor disclosed in its amended schedules $10,413,690 in assets
and $5,845,301 in liabilities as of the Chapter 11 filing.


HUNGRY HORSE: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Hungry Horse, LLC
        PO Box 1058
        Hobbs, NM 88241

Case No.: 16-11222

Chapter 11 Petition Date: May 17, 2016

Court: United States Bankruptcy Court
       District of New Mexico (Albuquerque)

Debtor's Counsel: Louis Puccini, Jr., Esq.
                  KEN WAGNER LAW, PA
                  PO Box 25167
                  Albuquerque, NM 87125
                  Tel: 505-242-6300
                  Fax: 505-242-0790
                  E-mail: louis@kenwagnerlaw.com

Total Assets: $5.62 million

Total Liabilities: $5.47 million

The petition was signed by John Norris, managing member.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/nmb16-11222.pdf


IHEARTMEDIA INC: Texas Court Ruling May Postpone Day of Reckoning
-----------------------------------------------------------------
John E. Morris, writing for Bloomberg Brief, reported that a defeat
in court could force iHeartMedia Inc. into a restructuring sooner
rather than later of its more than $21 billion in debt and a
victory might allow the radio and billboard company to buy back
steeply discounted debt, strengthening the hand of its private
equity owners even if it doesn't solve longer-term balance sheet
problems.

According to the report, at issue is iHeart's transfer in December
of a stake in its publicly traded billboard unit to Broader Media
LLC, a subsidiary that is not subject to restrictions protecting
creditors.  The creditors, which include Canyon Capital Advisors,
D.E. Shaw and Franklin Advisers, represent at least 25 percent of
the outstanding principal of four of the company’s priority
guarantee notes, the report related.

The report further related that a state court in Texas has
scheduled a May 16 hearing to decide if iHeart's transfer of assets
from a restricted subsidiary to an unrestricted subsidiary
constituted a default, as noteholders contend.  If the court finds
there was a default, iHeart may choose to negotiate a restructuring
with creditors, the report said, citing Bloomberg Intelligence
distressed debt analyst Philip Brendel.  If the company prevails,
the buyback option would open up, the report related, further
citing Mr. Brendel in a May 6 report.

Reducing iHeart's debt might enhance the value of equity held by
Thomas H. Lee Partners and Bain Capital Partners, which led a $25.5
billion buyout of iHeart, then known as Clear Channel
Communications, in 2008, the report noted.

                     About iHeartCommunications

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

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

                       Bankruptcy Warning

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

                            *   *    *

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


IMAGEWARE SYSTEMS: Issues Financial Results for Q1 2016
-------------------------------------------------------
ImageWare Systems, Inc., reported a net loss available to common
shareholders of $2.62 million on $1.04 million of total 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
total revenues for the same period in 2015.

As of March 31, 2016, the Company had $5.39 million in total
assets, $3.75 million in total liabilities and $1.64 million in
shareholders' equity.

"Since our last corporate update less than two months ago, we
continued to forge strategic partnerships with companies that we
believe will help commercialize our technology," said Jim Miller,
ImageWare's chairman and CEO.  "Today, we officially teamed up with
TransUnion to integrate GoVerifyID with the debut of their ID
vetting product, ID Manager.  Two things make our joint product
unique.  First, we are targeting small-to-medium sized businesses,
which employ the majority of our population, yet have not been the
target audience for many of our partners to date.  Second, thanks
to the ID Manager product, our 'pay-as-you-go, scale-as-you need'
offering will allow quick deployment and no upfront infrastructure
setup costs, reducing two significant barriers to entry.

"In addition to other recently formed partnerships, we made great
progress in the sales process of GoVerifyID with Aruba's ClearPass
Policy Manager.  Aruba's internal salesforce as well as over 60
resellers are currently being educated about the product.  We have
been busy collaborating with their team to co-write content for
sales webcasts and other selling materials, and have setup a joint
server in the cloud for customers interested in a demo.

"To our knowledge, this is the first time a network company has
elected to use biometrics for security purposes, reflecting the
strength of our biometric technology.  With a total end user
population of approximately 65 million, Aruba also represents one
of the larger populations of users to be targeted for conversion
from PINs and passwords to biometrics.  As we look ahead, we
believe this will more often become the case with other companies,
and Aruba provides ImageWare a true signature reference account for
our commercialization strategy."

At March 31, 2016, cash and cash equivalents totaled $1.1 million
compared to $3.4 million at Dec. 31, 2015.  The company continues
to carry no debt and has full availability on its $5.5 million line
of credit.

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

                      https://is.gd/ZZ2hM6

                    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.


J&E LAND: Pearce to Auction College Hills Plaza on May 31
---------------------------------------------------------
College Hills Plaza, a strip shopping center on U.S. Highway 78
East in Jasper, is being sold in an online auction ending Tuesday,
May 31.  Pearce & Associates is marketing the property at the
direction of the Liquidating Trustee of the Liquidating Trust of
J&E Land Company, pursuant to the Plan of Liquidation approved by
the United States Bankruptcy Court.

The shopping center, located at 1301 U.S. Highway 78, Jasper, has
27,043 square feet of gross leasable space and also includes a
separate building, which formerly was occupied by a local barbeque
restaurant.

"This is a well-located shopping center in the heart of Jasper, at
the intersection with Walston Bridge Road.  The area is packed with
vital businesses that draw people into the area, including several
fast-food restaurants, Jim & Nick's, a Home Depot and a Quality
Inn," said Chip Pearce, president of the auction company.

The shopping center currently has six well-established tenants
generating $5,486 per month in income.  Four suites are vacant.
"With new, active management, the new owner can lease out the rest
of this property with businesses that can benefit from the
high-traffic, highly visible location and have a great commercial
investment," said Mr. Pearce.

The shopping center has paved parking and easy access to downtown
Jasper or Interstate 22.  Bidding is under way at
auctionbypearce.com, and individuals can get additional information
at the web site or by calling 205-664-4300.

Jasper-based J&E Land Company filed for Chapter 11 bankruptcy
protection in 2013, citing debts of more than $7.4 million.

Pearce & Associates, based in Alabaster, markets real estate and
other assets throughout Alabama, primarily through online auctions.
Clients include estate executors, business owners, attorneys,
bankruptcy trustees and individuals.  The firm also has ongoing
contracts with many cities and counties for the sale of surplus
materials. Individuals seeking additional information may call
205-664-4300.


J. CREW: Bank Debt Trades at 21% Off
------------------------------------
Participations in a syndicated loan under which J. Crew is a
borrower traded in the secondary market at 79.19
cents-on-the-dollar during the week ended Friday, May 13, 2016,
according to data compiled by LSTA/Thomson Reuters MTM Pricing.
This represents a decrease of 1.36 percentage points from the
previous week.  J. Crew pays 300 basis points above LIBOR to borrow
under the $1.56 billion facility. The bank loan matures on Feb. 27,
2021 and carries Moody's B2 rating and Standard & Poor's B- rating.
The loan is one of the biggest gainers and losers among 247 widely
quoted syndicated loans with five or more bids in secondary trading
for the week ended May 13.


JILL ACQUISITION: Moody's Retains B2 CFR on $85MM Loan Add-on
-------------------------------------------------------------
Moody's Investors Service said Jill Acquisition LLC's ("J. Jill")
proposed $85 million add-on to its senior secured term loan which
will be used to partially fund a $110 million dividend to the
company's equity sponsor owners TowerBrook Capital Partners L.P. is
credit negative, but does not change the company's B2 Corporate
Family Rating, B2 term loan rating, or stable outlook.  The
dividend will also be funded with approximately $25 million of
balance sheet cash at close.  Moody's views the transaction as
credit negative because it will increase J. Jill's debt and
leverage, while the meaningful reduction in cash will weaken near
term liquidity.  The proposed debt financed dividend also reflects
a willingness on the part of the company's private equity ownership
to maintain leverage at elevated levels which Moody's views as
reflective of an aggressive financial policy.

Moody's maintains these ratings on Jill Acquisition LLC:

  Corporate Family Rating - B2
   Probability of Default Rating - B2-PD
  Senior Secured Term Loan due 2022 - B2, LGD-3 (includes proposed

   $85 million add-on)
  Outlook is Stable

Pro-forma for the proposed transaction Moody's estimates lease
adjusted Debt/EBITDA leverage through the LTM period ending October
31, 2015 in the mid 4 times range, with interest coverage
(EBIT/Interest Expense) around 2 times.  This reflects a worsening
of credit metrics relative to pre-transaction levels for the same
period when leverage was below 4 times and interest coverage was in
the mid 2 times range.  However, the CFR is not affected because
the company's credit metrics remain solid for the B2 rating
category.

Further supporting the rating is Moody's expectation for continued
strong operating performance over the next 12-24 months with
revenue growth aided by new store expansion and modest comparable
store sales growth (off of a strong LTM period), combined with
relatively stable EBITDA margins.  The company has had solid
operating performance over the last few years, highlighted by total
revenue growth for the first three quarters of the fiscal year
ended January 2016 in the high teens (compared to the same period
in the FY ended January 2015), and comparable retail store sales
approaching 10%.  EBITDA also increased by almost $20 million
(after adjusting for some onetime items including transaction
costs) over the year-to-date period driven by higher sales and
modest margin improvement.

J. Jill's liquidity profile is negatively impacted by the use of
almost all of its balance sheet cash to partially fund the
dividend.  Moody's continues to view the company's liquidity as
good, aided by our expectation for $10-20 million of positive free
cash flow over the next 12-18 months and availability under its $40
million ABL Revolver, which was undrawn as of October 31, 2015.
However, given the reduced cash position and ongoing investments in
the business to support new store openings, remodels, and systems,
Moody's believes the company may need to draw modestly on the
facility (under $10 million) to cover seasonal working capital
needs, particularly over the near term.

J. Jill's ratings could be downgraded if operating performance were
to decline as a result of lower same store sales or weaker
operating margins, resulting in debt-to-EBITDA leverage above 6x or
interest coverage (EBIT/Interest Expense) approaching 1.5 times.  A
worsening liquidity profile or continued aggressive financial
policies, including an upsize to the proposed debt-financed
dividend that would result in credit metrics outside the range of
the B2 rating category, could also pressure the ratings lower.

J. Jill's modest scale and specialty retail concentration somewhat
constrain the rating.  However, if the company can continue to
drive revenue and EBITDA growth resulting in leverage (Debt/EBITDA)
sustained meaningfully below 4.0x and interest coverage
(EBIT/Interest) sustained above 2.25x, the rating could experience
upward pressure.  An upgrade would also require a strong liquidity
profile, consistent free cash flow generation and the expectation
that financial policies will support credit metrics maintained at
those levels.

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

Headquartered in Quincy, Massachusetts, Jill Acquisition LLC is a
retailer of women's apparel, footwear and accessories though the
internet, catalogs and 260 retail stores.  The company is owned by
Towerbrook Capital Partners L.P. and generated LTM revenue of
approximately $545 million through Oct. 31, 2015.


JO-LIN HEALTH: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Jo-Lin Health Center, Inc.
        P O Box 329
        Ironton, OH 45638

Case No.: 16-11898

Nature of Business: Health Care

Chapter 11 Petition Date: May 17, 2016

Court: United States Bankruptcy Court
       Southern District of Ohio (Cincinnati)

Judge: Hon. Jeffery P. Hopkins

Debtor's Counsel: Michael B Baker, Esq.
                  2131 Chamber Center Drive
                  Ft. Mitchell, KY 41017
                  Tel: (859) 647-7777
                  Fax: (859) 647-7799
                  E-mail: mbaker@bakerlawky.com

                           - and -

                  Dean Langdon, Esq.
                  DELCOTTO LAW GROUP PLLC
                  200 North Upper Street
                  Lexington, KY 40507
                  Tel: 859-231-5800
                  Fax: 859-281-1179
                  E-mail: dlangdon@dlgfirm.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Jo Linda Heaberlin, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/ohsb16-11898.pdf


KEY ENERGY: S&P Lowers CCR to 'CCC-' on Weak Finc'l Measures
------------------------------------------------------------
S&P Global Ratings lowered its corporate credit rating on
U.S.-based Key Energy Services Inc. to 'CCC-' from 'CCC+'.  The
outlook is negative.

In addition, S&P lowered its issue-level rating on the company's
senior secured term loan to 'CCC+' from 'B'.  The recovery rating
on the term loan remains '1', indicating a very high (90% to 100%)
recovery in the event of payment default.  S&P also lowered its
issue level rating on the company's senior unsecured notes to 'C'
from 'CCC+' and revised the recovery rating to '6' from '4'
indicating negligible (0% to 10%) recovery in the event of payment
default.  The lower valuation reflects the company's exit from its
international business, which results in lower EBITDA assumptions
at the emergence of bankruptcy and a lower EBITDA multiple.

"The downgrade reflects our expectation that cash flow and credit
measures will continue to deteriorate over the next year such that
liquidity materially deteriorates in 2016," said S&P Global Ratings
credit analysts David Lagasse.

S&P expects exploration and production spending to fall around 40%
in 2016 due to continued weak oil and natural gas prices, and that
resulting demand for Key's services to continue to fall as a
result.  Consequently, S&P has reduced its revenue and EBITDA
margin assumptions for Key, and S&P expects credit measures to
continue to deteriorate.

The negative outlook reflects S&P's expectations less than adequate
liquidity due to continued weak market conditions, the potential
for covenant breaches, negative cash generation, and the increased
risk of distressed debt exchanges or other debt restructuring.

S&P could lower the rating if the company commences a debt
restructuring S&P views as distressed, which would likely occur if
market conditions and resulting liquidity are expected to remain
stretched.

S&P could raise the ratings if it considers a debt exchange or
other restructuring unlikely.  This would likely occur in
conjunction with a sustained improvement in crude oil and natural
gas prices that drives higher capital spending in the E&P industry.


LAW OFFICES OF SUNILDA: 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 the Law Offices of Sunilda E. Casilla, PA.  

The Law Offices of Sunilda E. Casilla, PA sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Case No.
16-12977) on March 1, 2016.  The Debtor is represented by Sunilda
E. Casill, Esq.



LBJ HEALTHCARE: Hires Robert M. Aronson as Bankruptcy Counsel
-------------------------------------------------------------
LBJ Healthcare Partners, Inc., asks for authorization from the U.S.
Bankruptcy Court for the Central District of California to employ
The Law Office of Robert M. Aronson as bankruptcy counsel.

The Firm will provide these services:

      a. examination of claims of creditors in order to determine
         their validity;

      b. giving advice and counsel to the Debtor in connection
         with legal issues, including the use, sale or lease of    
     
         property of the estate, adequate assurance of utilities,
         use of cash collateral and postpetition financing,
         requests for security interest, relief from automatic
         stay, special treatment, payment of prepetition
         obligations, etc.;

      c. negotiation with creditors holding secured and unsecured
         claims;

      d. preparation and presentation of a plan of reorganization
         and disclosure statement;

      e. possible prosecution of claims of the estate, objecting
         to claims as may be appropriate and, in general, acting
         as counsel on behalf of the Debtor in any and all
         bankruptcy law and related matters which may arise in the

         course of this case.

The Firm will be paid these hourly rates:

         Robert M. Aronson, Esq.     $400
         Paralegal                    $95

Mr. Aronson, a principal member of the Firm, assures the Court that
the Firm doesn't have any interest adverse to the Debtor or the
estate, nor is he aware of facts that would lead him to conclude
that the Firm is not a "disinterested person" as that term is
defined by the Bankruptcy Code.

Headquartered in Whittier, California, LBJ Healthcare Partners
Inc., fdba Bayshore Villa Healthcare Partners, Inc., aw Brian
Buenviaje, aw Rosalinda Buenviaje, filed for Chapter 11 bankruptcy
protection (Bankr. C.D. Calif. Case No. 16-15197) on April 21,
2016, listing $49,370 in total assets and $1.27 million in total
liabilities.  The petition was signed by Brian Buenviaje, president
and CEO.  Judge Vincent P. Zurzolo presides over the case.

Robert M Aronson, Esq., at the Law Office of Robert M. Aronson
serves as the Debtor's bankruptcy counsel.


LEARFIELD COMMUNICATIONS: Moody's Raises CFR to B2; Outlook Stable
------------------------------------------------------------------
Moody's Investors Service upgraded Learfield Communications, Inc.'s
corporate family rating to B2 from B3.  The 1st lien facility
rating was upgraded to B1 from B2 and the 2nd lien term loan was
upgraded to Caa1 from Caa2.  The probability of default rating was
affirmed at B3-PD.  The outlook remains stable.

The reason for the upgrade is the strong revenue and EBITDA growth
that Learfield has demonstrated over the past several years that
led to a reduction in leverage to 5.5x as of March 31, 2016, (as
calculated by Moody's).  The company's proposed transaction to
upsize the 1st lien term loan by $50 million to repay an equal
amount of 2nd lien term loan is expected to result in a largely 1st
lien structure which results in the PDR being affirmed at B3-PD.
The revolving credit facility is also expected to be upsized by $10
million to $55 million as part of the transaction.

In the event the proposed upsize of the 1st lien term loan is not
successful, the PDR rating may be changed to B2-PD if the 2nd lien
term loan is expected to remain outstanding.  The upgrade of the
CFR, 1st lien credit facility, and 2nd lien is not expected to
change if the proposed transaction is not successful, except that
the LGD for the 1st and 2nd lien facilities would change to LGD3
and LGD5 respectively.

Moody's took these rating actions:

  Borrower: Learfield Communications, Inc.
  Corporate Family Rating, upgraded to B2 from B3
  Probability of Default Rating, affirmed at B3-PD
  Upsized $55 million 1st lien senior secured revolving credit
   facility due October 2018, upgraded to B1 (LGD2) from B2 (LGD3)
  1st lien senior secured term loan due October 2020, upgraded to
   B1 (LGD2) from B2 (LGD3)
  2nd lien senior secured term loan due October 2021, upgraded to
   Caa1 (LGD4) from Caa2 (LGD5)
  Outlook, Stable

The assigned ratings are subject to review of final documentation
and no material change in the terms and conditions of the
transaction as provided to Moody's.

                        RATINGS RATIONALE

Learfield's B2 CFR reflects leverage of 5.5x as of 3/31/16
(including Moody's standard adjustments) and the improvement in
leverage from over 7x previously.  Included in the ratings are the
company's limited tangible assets with the company's value driven
by the intellectual capital of management, long term business
relationships, and contracts with over 120 different college
athletic programs and organizations.  As part of the contract with
colleges and universities, Learfield has a substantial amount of
guaranteed payments over a multiyear period.  There is also the
potential for increased competition in collegiate sports rights
that could negatively impact the ability to renew contracts and
EBITDA margins over time.  The company has been acquisitive since
Providence purchased the company and has completed three
incremental debt offerings to fund acquisitions since the
transaction was rated in September 2013.  In addition, Learfield
has some joint ventures and affiliate investments that are not
guarantors of the credit facilities.  Ratings are supported by the
growth the company has demonstrated over the past several years
aided by acquisitions.  College sports rights revenue is expected
to continue to rise due to its strong fan base and the
underpenetrated nature of some college media rights compared to
professional sports.  However, multimedia rights costs are also
expected to increase which have the potential to erode EBITDA
margins if they are not offset by additional multimedia revenue
opportunities or higher sponsorship rates.  Acquisitions have also
grown the scale of its multimedia rights business and increased the
number of different services that can be cross sold to its client
base.  Good renewal rates with its university base, long contract
periods, and revenue visibility due to pre-sold ad inventory also
support the ratings.

Moody's anticipates the company will maintain adequate liquidity
over the next 12 to 18 months from cash on the balance sheet of $78
million (as of March 31, 2016) as well as the upsized $55 million
revolving credit facility due October 2018.  Results and cash flows
are expected to be seasonal with strongest results posted during
the quarters ending in December and March of each year.  Free cash
flow to debt percentages are expected to be in the high single
digits over the next 12 months and are aided by modest capex
spending.  Learfield is required to make material future minimum
payments to the universities that it has multimedia rights
contracts with which will reduce its existing cash balance during
the June and July period when payments are typically made.

The revolver has a springing first lien leverage ratio if more than
30% of the revolver is drawn and the covenant levels are expected
to be amended as part of the transaction.  The first and second
lien term loans are covenant lite.  Moody's expects the company to
maintain compliance under the covenant over the next 12-18 months.
The company has the ability to issue an unlimited amount of first
lien, second lien, or unsecured debt subject to a pro-forma
incurrence test.

The stable outlook reflects our expectations that EBITDA will grow
in the mid single digit percentage range.  While the company's
results have been strong to date, there is the risk that
competitive conditions in the industry could negatively impact
future performance.

Ratings could be upgraded if leverage were to decline below 4.5x
(Moody's adjusted) on a sustained basis with a good liquidity
profile.  Confidence would also be needed that industry conditions
are stable and that the private equity owner would maintain
leverage below the required level.

Ratings could be downgraded due to the loss of material university
media rights contracts, downward margin pressure at contract
renewal, pronounced ad weakness, or additional debt that led to
leverage levels above 6.25x (Moody's adjusted).

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

Learfield Communications, Inc. is an operator in the collegiate
sports multimedia rights and marketing industry.  Learfield was
acquired by Providence Equity Partners, Nant Capital, and certain
members of management in October 2013 and is headquartered in
Plano, TX with satellite sales offices located on or near college
campuses across the country.



LEHMAN BROTHERS: Brokerage Creditors in Line for Another $677-Mil.
------------------------------------------------------------------
Patrick Fitgerald, writing for Dow Jones' Daily Bankruptcy Review,
reported that the trustee in charge of Lehman Brothers Inc. sought
court approval to pay out another $677 million to the defunct
brokerage's unsecured creditors, the fourth such distribution since
he finished paying off customers.

According to the report, the payments, if approved by Lehman's
bankruptcy judge, will bring the total amount returned to unsecured
creditors to around $8.5 billion, a recovery of about 38 cents on
the dollar.  Combined with distributions made to customers, the
total amount recovered in the brokerage's liquidation will be
around $115 billion, the report related.

"The LBI estate has entered a phase of substantial completion and
the progress made allows for a fourth significant distribution to
general creditors, an outcome that was unthinkable at the beginning
of the liquidation," the report cited the trustee, James Giddens,
as saying.

Mr. Giddens intends to ask Judge Shelley C. Chapman of U.S.
Bankruptcy Court in New York for approval for the fourth payout at
a hearing slated for June 10, the report further related.  Further
payouts would be contingent on winning or settling pending
litigation, Mr. Giddens said, which would free up funds currently
on reserve, the report added.

                    About Lehman Brothers

Lehman Brothers Holdings Inc. -- http://www.lehman.com/-- was the

fourth largest investment bank in the United States.  For more
than
150 years, Lehman Brothers has been a leader in the global
financial markets by serving the financial needs of corporations,
governmental units, institutional clients and  individuals
worldwide.

Lehman Brothers filed for Chapter 11 bankruptcy Sept. 15, 2008
(Bankr. S.D.N.Y. Case No. 08-13555).  Lehman's bankruptcy petition
disclosed US$639 billion in assets and US$613 billion in debts,
effectively making the firm's bankruptcy filing the largest in
U.S.
history.  Several other affiliates followed thereafter.

Affiliates Merit LLC, LB Somerset LLC and LB Preferred Somerset
LLC
sought for bankruptcy protection in December 2009.

The Debtors' bankruptcy cases are handled by Judge James M. Peck.
Harvey R. Miller, Esq., Richard P. Krasnow, Esq., Lori R. Fife,
Esq., Shai Y. Waisman, Esq., and Jacqueline Marcus, Esq., at Weil,
Gotshal & Manges, LLP, in New York, represent Lehman.  Epiq
Bankruptcy Solutions serves as claims and noticing agent.

Dennis F. Dunne, Esq., Evan Fleck, Esq., and Dennis O'Donnell,
Esq., at Milbank, Tweed, Hadley & McCloy LLP, in New York, serve
as
counsel to the Official Committee of Unsecured Creditors.
Houlihan
Lokey Howard & Zukin Capital, Inc., is the Committee's investment
banker.

On Sept. 19, 2008, the Honorable Gerard E. Lynch of the U.S.
District Court for the Southern District of New York, entered an
order commencing liquidation of Lehman Brothers, Inc., pursuant to
the provisions of the Securities Investor Protection Act (Case No.
08-CIV-8119 (GEL)).  James W. Giddens has been appointed as
trustee
for the SIPA liquidation of the business of LBI.

The Bankruptcy Court approved Barclays Bank Plc's purchase of
Lehman Brothers' North American investment banking and capital
markets operations and supporting infrastructure for US$1.75
billion.  Nomura Holdings Inc., the largest brokerage house in
Japan, purchased LBHI's operations in Europe for US$2 plus the
retention of most of employees.  Nomura also bought Lehman's
operations in the Asia Pacific for US$225 million.

Lehman emerged from bankruptcy protection on March 6, 2012, more
than three years after it filed the largest bankruptcy in U.S.
history.  The Chapter 11 plan for the Lehman companies other than
the broker was confirmed in December 2011.

                          *     *     *

In October 2015, Lehman made its eighth distribution to creditors,
bringing Lehman's total distributions to unsecured creditors to
approximately $105.4 billion including (1) $77.2 billion of
payments on account of third-party claims, which includes
non-controlled affiliate claims and (2) $28.2 billion of payments
among the Lehman Debtors and their controlled affiliates.

As of September 2015, the trustee in charge of LBI has returned
around $7.65 billion to the defunct brokerage's unsecured
creditors, a recovery of about 35 cents on the dollar.


LENDINGCLUB CORP: Receives Subpoena from Justice Department
-----------------------------------------------------------
Michael Corkery, writing for The New York Times' DealBook, reported
that, Lending Club said it had received a subpoena from the Justice
Department, following revelations that forced the resignation of
its founder and chief executive.

According to the report, the company, which serves as an online
matchmaker between small-business borrowers and individual and
institutional lenders, disclosed the grand jury subpoena in a
regulatory filing, saying it intended to cooperate with the federal
investigation.  A week ago, Lending Club, revealed that its founder
and chief, Renaud Laplanche, had resigned after an internal
investigation discovered fabrications in about $3 million of loan
applications.

The internal inquiry turned up other problems, including the sale
of $22 million of loans to the investment bank Jefferies that
Lending Club employees knew did not meet certain of Jeffries's
specifications, the report related.  The internal review also
revealed that Mr. Laplanche had invested in a fund that was buying
the company's loans without informing the Lending Club board, which
includes prominent members like Lawrence H. Summers, the former
Treasury secretary and former Harvard University president, the
report further related.

The disclosure of a criminal subpoena, which the company received
the day it announced Mr. Laplanche's departure, is another big blow
to Lending Club, the DealBook noted.

Based in San Francisco, LendingClub Corporation is an online
financial platform that enables qualified borrower members to
obtain unsecured consumer loans (which the Company refers to as
"Member Loans").  The Company was incorporated in Delaware in
October 2006, and in May 2007, began operations as an application
on Facebook.com.  The Company expanded its operations in August
2007 with the launch of its public website, www.lendingclub.com.
Investors have the opportunity to purchase Member Payment
Dependent Notes issued by the Company, with each series of Notes
corresponding to an individual Member Loan facilitated through the
Company's platform. The Notes are unsecured, are dependent for
payment on the related Member Loan and offer interest rates and
credit characteristics that the Company believes the investors
find attractive.


LEXI DEVELOPMENT: Settles North Bay Claims for $3.5-Mil.
--------------------------------------------------------
Lexi Development Company, Inc., asks the Bankruptcy Court to
approve a settlement with NBV Loan Acquisition, LLC, and Lexi North
Bay, LLC.

The key terms of the Settlement Agreement are:

   a. The Debtor will pay to North Bay the sum of $3,500,000, plus
interest, in full and final payment of any amounts North Bay has
claimed or may claim is due under the various loan documents
associated with North Bay's loan to the Debtor, $1,000,000 of which
will be paid within five business days of an order granting the
instant Motion becoming final and non-appealable. The balance of
$2.5 million payable to North Bay will be evidenced by a note and
mortgage.

   b. North Bay and NBV will use their best effort to assist the
Debtor in filing the instant Motion and will promptly seek the
entry of an Order granting same.  

   c. The Debtor will include the treatment of North Bay's claim in
its Amended Plan, which North Bay will support and vote for.
However, nothing in the Settlement Agreement is contingent on plan
approval.  

   d. North Bay, on the one hand, and the Debtor, Alan Greenwald
and the Estate of Jill Greenwald, Scott and Amy Greenwald, and NBV
will exchange mutual general releases, which will be effective upon
payment in full of the North Bay Payment.

   e. NBV's claims against the Debtor, which will be subordinate to
any and all obligations of the Debtor to North Bay pursuant to the
terms of the Settlement Agreement, will not be released as part of
the settlement.  The Debtor and NBV will seek to resolve NBV’s
claims against the Debtor promptly subject to Bankruptcy Court
approval.

   f. The Parties will also file a stipulation of dismissal with
prejudice of the Adversary Proceeding in its entirety, with each
party to bear its own fees and costs.  

   g. The state court litigation claims currently pending by NBV
against the Debtor and North Bay will be dropped with prejudice
with all Parties to bear their own fees and costs.

   h. The state court action brought by North Bay against the
Guarantors shall be dismissed without prejudice, while the
counterclaims brought by Guarantors against North Bay in such state
court action shall be dismissed with prejudice.  

   i. North Bay shall withdraw with prejudice any and all pending
motions and other pending pleadings it has filed in the Debtor's
bankruptcy, including, but not limited to, any and all motions for
stay relief, motions to prohibit use of cash collateral, North
Bay's Plan, and North Bay's Disclosure Statement, but not until an
Order granting the instant Motion becomes final and
non-appealable.

   j. The Parties reserve all rights and claims they do or may have
against Regions Bank and participating banks, which rights and
claims are not and shall not be released.  

The Court has scheduled a hearing on May 26, 2016 to consider the
approval of the Debtor’s Settlement Agreement with North Bay and
NBV.

Lexi Development Company, Inc. is represented by:

      Peter D. Russin, Esq.
      MELAND RUSSIN & BUDWICK, P.A.
      3200 Southeast Financial Center
      200 South Biscayne Boulevard
      Miami, Florida  33131
      Telephone: (305) 358-6363
      Telecopy: (305) 358-1221
      Email: prussin@melandrussin.com

           About Lexi Development

South Miami, Florida-based Lexi Development Company, Inc., owns and
is developing a 164 Unit, 19-story, mixed-use residential and
retail bay view condominium development at 1700 Kennedy Causeway,
North Bay Village, Florida, known as "The Lexi".  It filed for
Chapter 11 bankruptcy protection on June 23, 2010 (Bankr. S.D. Fla.
Case No. 10-27573).  Joshua W. Dobin, Esq., at Meland Russin &
Budwick, P.A., in Miami, Florida, serves as counsel.  In its
schedules, the Debtor disclosed $22,601,336 in total assets and
$21,558,876 in total liabilities as of the Petition Date.


LIFE CARE: 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 Life Care St. Johns, Inc.

                    About Life Care St. Johns

Life Care St. Johns, Inc., doing business as Glenmoor, is a
not-for-profit organization that owns and operates a continuing
care retirement community in St. Johns County, Florida.  The
company received its certificate of occupancy in 1999 and began
operations in October of 2001.

As a CCRC, Glenmoor provides "lifecare services" to its residents,
each of whom reside in a residential unit.  The "lifecare" concept
recognizes that the healthcare and residency needs of elderly
residents vary along a continuum beginning with independent living
and in many cases ending with a need for full-time nursing care.
The Glenmoor community thus includes independent residential units,
an assisted living center, and a healthcare center for residents
requiring round the clock nursing care.

As disclosed in documents filed with the Court, Residency at
Glenmoor is provided pursuant to "Residence and Care Contracts"
which require prospective residents to pay an "Entrance Fee" and a
"Monthly Service Fee."  The Entrance Fee is a lump sum, one-time
payment based on the type of Residential Unit occupied by the
resident, and obligates Glenmoor to provide care to the resident so
long as he or she remains a resident and pays the Monthly Service
Fee.  Depending upon the type of contract selected, the Entrance
Fee may or may not be refundable.  For residents with refundable
Entrance Fee contracts, the refund is to be paid from the proceeds
of the next Entrance Fee received by Glenmoor.

According to Court filings, the economic recession which began in
late 2007 had a dramatic impact on Glenmoor, with fewer residents
being able to afford the required Entrance Fees as their home
equity and investments portfolios shrank in value.  With fewer new
residents entering the community than were moving out, significant
Entrance Fee refund liabilities began to accumulate, rising to
almost $8 million at their peak.  The decreasing revenues
eventually led to payment and other defaults under the $59 million
in Revenue Bonds issued in 2006 to support Glenmoor and refinance
an earlier bond issue.

On July 3, 2013, Glenmoor filed its initial Chapter 11 case in the
U.S. Bankruptcy Court for the Middle District of Florida amid
defaults under the Debtor's 2006 Bonds and threats of enforcement
action by the Florida's Office of Insurance Regulation, the
government entity that governs the licensing and operations of
continuing care retirement community in Florida.  A consensual Plan
of Reorganization was filed Nov. 27, 2013.  Glenmoor's Plan of
Reorganization was confirmed by the Court on Feb. 28, 2014.  The
Final Decree was entered on April 6, 2016.

Glenmoor filed its second voluntary petition under Chapter 11 of
the Bankruptcy Code (Bankr. M.D. Fla. Case No.: 16-01347) on April
11, 2016.

The Debtor has engaged Thames Markey & Heekin, P.A., as bankruptcy
counsel; Walchle Investment Group, Inc. as sale broker; Cassidy
Turley Commercial Real Estate Services, Inc., as investment banker;
Greystone Development Company II, LP, as operations consultant;
Eddie Williams, III, Esq., as regulatory compliance counsel; Moore
Stephens Lovelace, CPA, as accountant; Globic Advisors, Inc., as
plan solicitation and tabulation agent; and American Legal Claim
Services, LLC as claims and noticing agent.

The Debtor estimated assets in the range of $10 million to $50
million and liabilities of up to $100 million.

The case is pending before the Honorable Jerry A. Funk.


LIME ENERGY: Incurs $7.69 Million Net Loss in First Quarter
-----------------------------------------------------------
Lime Energy Co. filed with the Securities and Exchange Commission
its quarterly report on Form 10-Q disclosing a net loss available
to common stockholders of $7.69 million on $23.14 million of
revenue for the three months ended March 31, 2016, compared to a
net loss available to common stockholders of $2.40 million on
$18.29 million of revenue for the same period in 2015.

As of March 31, 2016, Lime Energy had $47.5 million in total
assets, $38.8 million in total liabilities, $11.05 million in
contingently redeemable series C preferred stock and a total
stockholders' deficiency of $2.27 million.

As of March 31, 2016, the Company had cash and cash equivalents of
$2.4 million, compared to $6.7 million (including $1.3 million of
restricted cash) as of Dec. 31, 2015.

"We have positioned ourselves as a leading national provider of
smart building products and services to small and mid-sized
businesses," said Adam Procell, Lime Energy president & CEO.  "Our
innovative intelligent efficiency solutions help usher these
customers into the clean energy economy, while solving critical
environmental challenges facing utilities and their regulators."

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

                      https://is.gd/Qkp7lA

                        About Lime Energy

Headquartered in Huntersville, North Carolina, Lime Energy Co. --
http://www.lime-energy.com/-- is engaged in planning and
delivering clean energy solutions that assist its clients in their
energy efficiency and renewable energy goals.  The Company's
solutions include energy efficient lighting upgrades, energy
efficient mechanical and electrical retrofit and upgrade services,
water conservation, building weatherization, on-site generation
and renewable energy project development and implementation.  The
Company provides energy solutions across a range of facilities,
from high-rise office buildings, distribution facilities,
manufacturing plants, retail sites, multi-tenant residential
buildings, mixed use complexes, hospitals, colleges and
universities, government sites to small, single tenant facilities.

Lime Energy reported a net loss available to common stockholders of
$4.44 million on $113 million of revenue for the year ended Dec.
31, 2015, compared to a net loss available to common stockholders
of $5.60 million on $58.8 million of revenue
for the year ended Dec. 31, 2014.


LINN ENERGY: NASDAQ Determines to Delist Units
----------------------------------------------
Linn Energy, LLC, received a letter from the Listing Qualifications
Department of The NASDAQ Stock Market LLC on May 13, 2016, stating
that the Staff had determined the Company's units representing
limited liability company interests will be delisted from NASDAQ.
The decision was reached by the Staff under NASDAQ Listing Rules
5101, 5110(b) and IM-5101-1 as a result of the Company's
announcement that the Company filed the bankruptcy petitions, the
associated public interest concerns raised by the Bankruptcy
Petitions, concerns regarding the residual equity interest of the
existing listed securities holders and concerns about the Company's
ability to sustain compliance with all requirements for continued
listing on NASDAQ.  The Staff's notice to the Company also stated
that, on April 26, 2016, the Staff notified the Company that the
bid price of the Company's units had closed below $1.00 per unit
for 30 consecutive trading days, and accordingly, it did not comply
with Listing Rule 5450(a)(1), which served as an additional basis
for the delisting determination.

The letter further indicates that, unless the Company requests an
appeal, trading of the Company's units will be suspended at the
opening of business on May 24, 2016, and a Form 25-NSE will be
filed with the Securities and Exchange Commission, which will
remove the Company's units from listing and registration on
NASDAQ.

The Company does not intend to appeal NASDAQ's determination.  If
the Company does not appeal the Staff's determination, the Company
expects that its units will be eligible to be quoted on the OTC
Pink operated by the OTC Markets Group Inc.  To be quoted on the
OTC Pink, a market maker must sponsor the security and comply with
SEC Rule 15c2-11 before it can initiate a quote in a specific
security.  The OTC Pink is a significantly more limited market than
NASDAQ, and the quotation of the Company's units on the OTC Pink
may result in a less liquid market available for existing and
potential unitholders to trade units and could further depress the
trading price of the Company's units.  There can be no assurance
that any public market for the Company's units will exist in the
future or that the Company or its successor will be able to relist
its units on a national securities exchange.

                       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 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.


LINN ENERGY: Removed from Alerian Small Cap MLP Index
-----------------------------------------------------
Alerian on May 12, 2016, disclosed that Linn Energy (LINE) will be
removed from the Alerian Small Cap MLP Index (AMSI) in a special
rebalancing after market close on Thursday, May 12, 2016.  Special
rebalancings are triggered by corporate actions such as mergers,
bankruptcies, and liquidations.  LINE filed voluntary petitions for
restructuring under Chapter 11 of the Bankruptcy Code on Wednesday,

May 11, 2016.

The index will be rebalanced in accordance with its existing
methodology.  Constituent additions to and deletions from the index
do not reflect an opinion by Alerian on the investment merits of
the respective securities.

The Creditsafe Group on May 12 disclosed that Linn Energy, founded
in 2003 and registered in Texas, became a public company in 2006.
Over the years, the company employed aggressive financial
strategies resulting in moderate growth.  With the sharp decline in
crude-oil prices, this highly leveraged company is one of two big
industry players forced into Chapter 11.  According to company
reports, Linn Energy was unable to meet its $10 billion in debt
obligations, making it one of the largest oil and gas bankruptcies
since the collapse of the industry in the 1980s.

Linn Energy has been steadily losing money over the past several
years with a profit before tax in 2013 of negative $691million,
negative $452 million in 2014, and negative $4.76 billion by 2015.
These accumulated losses decimated the Company's reserves.  In
2013, the net value of Linn Energy was $5.9 billion, however, the
accumulated trading losses meant the net value of the Linn Energy
in 2015 was actually negative $269 million.  Essentially, Linn
Energy lost more $6 billion in value from its balance sheet.

                          About Alerian

Alerian -- http://www.alerian.com-- equips investors to make
informed decisions about Master Limited Partnerships (MLPs) and
energy infrastructure. Its benchmarks, including the flagship
Alerian MLP Index (AMZ), are widely used by industry executives,
investment professionals, research analysts, and national media to
analyze relative performance. As of March 31, 2016, nearly $13
billion is directly tied to the Alerian Index Series through
exchange-traded funds and notes, separately managed accounts, and
structured products.

                      About Linn Energy

LINN Energy, LLC (NASDAQ: LINE) -- http://www.linnenergy.com/-- is
an oil and natural gas company.  The Company is focused on
acquiring, developing and maximizing cash flow from a portfolio of
oil and natural gas assets.  The Company's properties are located
in the United States, in the Rockies, the Hugoton Basin,
California, east Texas and north Louisiana (TexLa), the
Mid-Continent, the Permian Basin, Michigan/Illinois and south
Texas.

Linn Energy reported a net loss of $4.75 billion on $2.88 billion
of revenues for the year ended Dec. 31, 2015, compared to a net
loss of $452 million on $4.98 billion of revenues for the year
ended Dec. 31, 2014.  As of Dec. 31, 2015, Linn Energy had $9.97
billion in total assets, $10.2 billion in total liabilities and a
$269 million in unitholders' deficit.

                        *     *     *

As reported by the TCR on March 21, 2016, Standard & Poor's Ratings
Services lowered its corporate credit ratings on oil and gas
exploration and production company Linn Energy LLC and its
subsidiary Berry Petroleum Co. LLC to 'D' from 'CCC'.

Linn Energy, LLC carries a 'Ca' corporate family rating from
Moody's Investors Service.


LUVU BRANDS: Incurs $160,000 Net Loss in Third Quarter
------------------------------------------------------
Luvu Brands, Inc., filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $159,505 on $4.30 million of net sales for the three months
ended March 31, 2016, compared to a net loss of $166,183 on $4.27
million of net sales for the same period in 2015.

For the nine months ended March 31, 2016, Luvu Brands reported a
net loss of $157,348 on $12.90 million of net sales compared to a
net loss of $52,881 on $12.1 million of net sales for the nine
months ended March 31, 2015.

As of March 31, 2016, Luvu Brands had $3.76 million in total
assets, $6.14 million in total liabilities and a total
stockholders' deficit of $2.37 million.

As of March 31, 2016, the Company's cash and cash equivalents
totaled $432,504 compared to $493,272 in cash and cash equivalents
as of March 31, 2015.

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

                     https://is.gd/LMTcul

                       About Luvu Brands

Luvu Brands, Inc., formerly known as Liberator, Inc., is a
U.S.-based manufacturer that has built several brands in the
wellness, lifestyle and casual furniture and seating categories.
Its brands are headquartered in Atlanta in a 140,000 square foot
manufacturing facility.

"We incurred a net loss of $222,235 for the three months ended
September 30, 2015 and a net loss of $473,746 for the year ended
June 30, 2015.  As of September 30, 2015, we have an accumulated
deficit of $9,119,722 and a working capital deficit of $1,938,975.
This raises substantial doubt about our ability to continue as a
going concern," the Company stated in its quarterly report for the
period ended Sept. 30, 2015.


MCK MILLENNIUM: Wants June 27 Deadline for Exclusive Plan Filing
----------------------------------------------------------------
MCK Millennium Centre Retail LLC asks the Hon. Jack B. Schmetterer
of the U.S. Bankruptcy Court for the Northern District of Illinois
to extend the exclusivity and time to file its plan and disclosure
statement through and including June 27, 2016, from June 24, 2016.

A hearing on the motion is set for May 24, 2016, at 10:00 a.m.

Under the terms of of a certain stipulation and interim order
authorizing use of cash collateral entered on May 13, 2016, the
Debtor and MLMT 2005-MKB2 Millennium Centre Retail LLC -- a holder
of a secured loan to the Debtor in the original principal amount of
$11.20 million -- stipulated that the filing of a plan and
disclosure statement by the Debtor without the prior approval of
the Lender would terminate the authorization to use cash
collateral.  Under the terms of that agreement, the Debtor and the
Lender also stipulated that the Debtor must either sell or
refinance its real property by July 15, 2016.

The Debtor believes that the best use of its time and resources at
this point in the case is to focus on obtaining a final order
authorizing the use of cash collateral, discussing possible
settlement with the Lender, and working towards case resolution by
sale of the Debtor's real property or by refinancing thereof,
rather than focusing on negotiating a plan and disclosure
statement which will necessarily change over time as the means of
case resolution becomes certain.

On Feb. 29, 2016, the Court sua sponte entered an order requiring
the Debtor to file a plan and a disclosure statement by May 25,
2016.

                       About MCK Millennium

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

The Debtor is represented by:

      Jonathan D. Golding, Esq.
      THE GOLDING LAW OFFICES, PC
      500 N. Dearborn Street, 2nd Floor
      Chicago, IL 60654
      Tel: (312) 832-7892
      Fax: (312) 755-5720
      E-mail: jgolding@goldinglaw.net


MIAMI TEES: 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 Miami Tees, Inc.  

Miami Tees, Inc. sought protection under Chapter 11 of the
Bankruptcy Code in the Southern District of Florida (Miami) (Case
No. 16-13346) on March 9, 2016.  The petition was signed by Michael
J. Chavez, president.

The Debtor is represented by William J. Maguire, Esq., at Maguire
Law Chartered. The case is assigned to Judge Jay A. Cristol.

The Debtor disclosed total assets of $1.86 million and total debts
of $1.42 million.



MLFTL INC: U.S. Trustee Unable to Appoint Committee
---------------------------------------------------
The Office of the U.S. Trustee disclosed in a court filing that no
official committee of unsecured creditors has been appointed in the
Chapter 11 case of MLFTL, Inc.  

MLFTL, Inc. sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. S.D. Fla. Case No. 16-15475) on April 15, 2016.  The
Debtor is represented by Ronald Lewis, Esq., at Lewis & Thomas,
LLP.


MM SHOWS: 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 MM Shows, LLC.  

MM Shows, LLC d/b/a Celebrity Sports sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. M.D. Fla. Case No.
16-12962) on March 1, 2016.  The Debtor is represented by Brian S
Behar, Esq., at Behar, Gutt & Glazer, PA.


MONESSEN CITY, PA: Moody's Lowers GO Rating to Ba3; Outlook Neg
---------------------------------------------------------------
Moody's Investors Service has downgraded the City of Monessen, PA's
General Obligation rating to Ba3 from Ba1.  The outlook remains
negative.

The downgrade to Ba3 reflects the city's deepening structural
imbalance with another operating deficit expected for fiscal 2015,
resulting in little to no liquidity and negative fund balance.  The
city continues to face significant challenges given its small and
weakening tax base, below-average socioeconomic indicators, and
above-average debt burden.

Rating Outlook

The negative outlook reflects the expectation that the city's
finances will continue to be pressured over the next 12 to 18
months with the potential for further financial deterioration.

Factors that Could Lead to an Upgrade

  Multiyear trend of structural balance leading to improved
   liquidity and reserve levels

  Significant improvement in the city's tax base and socioeconomic

  indicators

Factors that Could Lead to a Downgrade

  Fiscal 2015 audit shows a sizeable operating deficit and
   material decline in reserves

  Continued structural imbalance resulting in a deepening negative

   reserve position

  Failure to make contractual payments such as debt service,
   pension, or payroll

  Further deterioration in the tax base

Legal Security

Debt service on the rated debt is secured by the city's general
obligation unlimited ad valorem tax pledge.

Use of Proceeds. Not applicable.

Obligor Profile

The City of Monessen is located in southwestern Pennsylvania in the
Monongahela River Valley.  It has a population of 7,682.

Methodology

The principal methodology used in this rating was US Local
Government General Obligation Debt published in January 2014.


MOSS FAMILY: Court Approves Baden as Ch.11 Trustee's Accountants
----------------------------------------------------------------
Yvette Gaff Kleven, the Chapter 11 Trustee of Moss Family Limited
Partnership & Beachwalk, L.P., sought and obtained permission from
the U.S. Bankruptcy Court for the Northern District of Indiana to
employ Baden Gage & Schroeder, LLC as accountants to the Trustee.

The Trustee requires Baden to:

   a. advise and consult with the Trustee concerning tax
      consequences in the conduct of the administration of the
      estate; and

   b. prepare tax returns.

Baden will be paid at these hourly rates:

     Tina Perez                $235
     Melissa Wolf              $180
     Tyler Engstrom            $110
     Chelsea Ridenour          $95

Miscellaneous fees include business tax software at $25, individual
tax software at $10, a surcharge of $3 per project, and copy
charges at $0.25 per page.

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

To the best of the Trustee's knowledge the firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code and does not represent any interest adverse to the Debtors and
their estates.

Baden can be reached at:

     BADEN GAGE & SCHROEDER, LLC
     6920 Pointe Inverness Way, Suite 300
     Fort Wayne, IN 46804
     Tel: (260) 422-2551
     Fax: (260) 422-7862

                      About Moss Family

Moss Family Limited Partnership and Beachwalk, L.P., filed Chapter
11 petitions (Bankr. N.D. Ind. Case Nos. 12-32540 and 12-32541) on
July 17, 2012.

Judge Harry C. Dees, Jr., presides over the case. Daniel Freeland,
Esq., at Daniel L. Freeland & Associates, P.C., represents the
Debtors. The Debtors tapped Beachwalk Realty LLC as their broker to
sell certain property named Lot 136B located at 102 Mary Lane in
Michigan City, Indiana.

Moss Family disclosed $6,609,576 in assets and $6,299,851 in
liabilities as of the Chapter 11 filing.

The Debtors' Amended Joint Chapter 11 Plan dated Dec. 3, 2013,
provides that unsecured claims will be fully paid and satisfied by
use of the proceeds from the sale of LaPorte Judgment Lien
Property.


MOUNT CLEMENS: Moody's Affirms Ba3 GOULT Debt Rating, Outlook Neg.
------------------------------------------------------------------
Moody's Investors Service has affirmed the Ba3 underlying rating on
Mount Clemens Community School District, MI's general obligation
unlimited tax (GOULT) debt.  The outlook remains negative.  The
district has $47 million in GOULT debt outstanding, $36 million of
which is rated by Moody's.

The Ba3 rating and negative outlook reflects the district's
modestly-sized tax base with a below average demographic profile;
trend of operating surpluses which have reduced its deficit fund
position; ongoing enrollment declines; and high fixed costs
associated with elevated debt and pension liabilities.

Rating Outlook

The negative outlook reflects the district's deficit reserve
position which is unlikely to improve over the near-term.  Though
the deficit position has shrunk in recent years, the district
continues to be negatively impacted by declines in enrollment,
projecting a deficit in fiscal 2016 which will further impede the
district's ability to restore reserves to positive levels.

Factors that Could Lead to an Upgrade

  Trend of operating surpluses leading to a reversal of the
   district's deficit reserve balance

  Substantial and sustained growth in enrollment

  Strengthening of the district's tax base and/or socioeconomic
   profile

  Moderation of fixed costs

Factors that Could Lead to a Downgrade

  Failure to maintain structural balance and restore reserves

  Further enrollment declines which pressure the district's
   revenue stream

  Increases to the district's debt and/or pension liabilities

Legal Security

Debt service on the district's outstanding GOULT debt is secured by
the district's GO tax pledge with voter authorization to levy
property taxes without limitation as to rate or amount.  All of the
district's bonds are also secured by the State of Michigan's School
Bond Qualification and Loan Program (SBQLP).

Use of Proceeds
Not applicable.

Obligor Profile
Mount Clemens Community School District is located 17 miles
northeast of Detroit (B2 positive) in Macomb County (Aa1 stable),
and provides K-12 education to approximately 1,100 students in a
community of over 21,000.

Methodology

The principal methodology used in this rating was US Local
Government General Obligation Debt published in January 2014.


N KASAPMU: Taps Jason A. Burgess as General Counsel
---------------------------------------------------
N. Kasapmu, Inc., a Florida Corporation, seeks permission from the
U.S. Bankruptcy Court for the Middle District of Florida to employ
Jason A. Burgess as general counsel for the Debtor, nunc pro tunc
to the Petition Date.

The Firm will:

      a. give advice to the Debtor with respect to its powers and
         duties as debtor-in-possession and the continued
         management of its business;

      b. advise the Debtor with respect to its responsibilities in

         complying with the U.S. Trustee's Operating Guidelines
         and Reporting Requirements and with the Local Rules of
         the Court;

      c. prepare motions, pleadings, orders, applications,
         disclosure statements, plans of reorganization, commence
         adversary proceedings, and prepare other legal documents
         necessary in the administration of this case;

      d. protect the interest of the Debtor in all matters pending

         before the Court; and

      e. represent the Debtor in negotiations with their creditors

         and in preparation of the disclosure statement and plan
         of reorganization.

The Firm will be paid at these hourly rates:

         Jason A. Burgess, Esq.         $295
         Associate                      $195
         Paralegal                       $75

Prior to the Petition Date, the Debtor and the Firm agreed to a
minimum fee for representation, subject to court approval, in this
Chapter 11 bankruptcy case.  The agreed minimum fee is $1,283.
About $3,000 has been paid and the Firm acknowledges receipt of the
$3,000, and that $1,717 was paid on behalf of the Debtor for the
$1,717 filing fee required to commence this Chapter 11 bankruptcy
case.

Jason A. Burgess, Esq., a member at the Firm, assures the Court
that he doesn't represent any interest adverse to the Debtor, any
of the Debtor's creditors, any other attorneys, accountants, or
representatives who have represented the Debtor's creditors or any
other parties-in-interest, or any other attorneys, accountants, or
representatives currently representing the Debtor.

The Firm can be reached at:

      Jason A. Burgess, Esq.
      The Law Offices of Jason A. Burgess, LLC
      1855 Mayport Road
      Atlantic Beach, Florida 32233
      Tel: (904) 372-4791
      Fax: (904) 853-6932

N. Kasapmu, Inc., a Florida Corporation, filed for Chapter 11
bankruptcy protection (Bankr. M.D. Fla. Case No. 3:16-0) on May 16,
2016.


NAT'L CERAMICS OF FLORIDA: US 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 National Ceramics of Florida, Corp.

National Ceramics of Florida, Corp. sought protection under Chapter
11 of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 16-14739) on
April 1, 2016.  The Debtor is represented by David R. Softness,
Esq., at David R. Softness, PA.


NCR CORP: Egan-Jones Cuts Sr. Unsecured Debt Ratings to B+
----------------------------------------------------------
Egan-Jones Ratings Company lowered the senior unsecured ratings on
debt issued by NCR Corporation to B+ from BB- on May 5, 2016.  

NCR Corporation manufactures financial transaction machines and
other products. The Company produces automated teller machines
(ATM), self-checkout and self-service kiosks, point-of-sale
workstations and scanners; manufactures printer consumable
products; and manages networks and servers for ATMs and kiosks.


NEIMAN MARCUS: Bank Debt Trades at 7% Off
-----------------------------------------
Participations in a syndicated loan under which Neiman Marcus Group
Inc is a borrower traded in the secondary market at 93.21
cents-on-the-dollar during the week ended Friday, May 13, 2016,
according to data compiled by LSTA/Thomson Reuters MTM Pricing.
This represents a decrease of 1.75 percentage points from the
previous week.  Neiman Marcus pays 300 basis points above LIBOR to
borrow under the $2.9 billion facility. The bank loan matures on
Oct. 16, 2020 and carries Moody's B2 rating and Standard & Poor's
B- rating.  The loan is one of the biggest gainers and losers among
247 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended May 13.


NEWPARK RESOURCES: Egan-Jones Cuts Sr. Unsec. Ratings to B-
-----------------------------------------------------------
Egan-Jones Ratings Company lowered the senior unsecured ratings on
debt issued by Newpark Resources Inc. to B- and the Company's
foreign currency senior unsecured rating to B from A1 on May 5,
2016.

Newpark Resources, Inc. provides environmental services to the oil
and gas exploration and production industry, primarily in the Gulf
Coast market.


NGPL PIPECO: Moody's Raises Rating to Ba3; Outlook Positive
-----------------------------------------------------------
Moody's Investors Service upgraded the ratings of NGPL PipeCo. LLC
to Ba3 from Caa2, including the Corporate Family Rating and the
senior secured rating.  In addition, Moody's upgraded the
Probability of Default Rating to Ba3-PD from Caa2-PD.  NGPL's
speculative grade liquidity rating (SGL) was changed to SGL-2,
reflecting higher expected internal cash flow generation.  The
rating actions conclude the review for upgrade that began on
April 14, 2016.  The rating outlook is positive.

Upgrades:

Issuer: NGPL PipeCo. LLC
  Probability of Default Rating, Upgraded to Ba3-PD from Caa2-PD,
   on review for upgrade
  Speculative Grade Liquidity Rating, Upgraded to SGL-2 from SGL-3
  Corporate Family Rating, Upgraded to Ba3 from Caa2, on review
   for upgrade
  Senior Secured Bank Credit Facility, Upgraded to Ba3 from Caa2,
   on review for upgrade
  Senior Secured Regular Bond/Debenture, Upgraded to Ba3 from
   Caa2, on review for upgrade

Outlook Actions:

Issuer: NGPL PipeCo. LLC
  Outlook, Changed To Positive From Rating Under Review

                         RATINGS RATIONALE

"The upgrade reflects how NGPL is benefitting from its reduced debt
and improved liquidity profile, thanks to a $623 equity infusion
made by its owners" said Ryan Wobbrock, Vice President -- Senior
Analyst.  "The positive rating outlook considers the potential for
additional financial improvement over the next 12-18 months,
through more deleveraging and EBITDA growth expected from future
projects."

In April, NGPL's two owners, Kinder Morgan Inc. (KMI; Baa3 stable)
and Brookfield Infrastructure Partners (unrated, a subsidiary of
Brookfield Asset Management Inc. (Baa2 stable)) contributed $623
million of equity in order to reduce borrowings under NGPL's senior
secured credit facility (i.e., a $700 million term loan and $75
million revolving credit facility).  As a result, there is now
around $38 million of term loan outstanding and no borrowings under
the revolver.  KMI and Brookfield are equal owners of NGPL, each
with a 50% share.

The equity infusion translates to an immediate improvement in
NGPL's financial position, with new debt levels to 2015 EBITDA of
approximately 8.7x, down from 11.1x at year-end 2015.
Prospectively, we incorporate a view that NGPL's owners will
continue to address leverage in their pursuit to obtain a stated
goal of 5.5x to 5.0x debt to EBITDA, which will also improve cash
flow coverage metrics accordingly.

NGPL's interstate pipeline asset has substantial value as the
primary supplier of natural gas to Chicago, Illinois, and expects
to benefit from growth projects focused on increased demand in
Mexico and liquefied natural gas export facilities in the southern
US.

NGPL's SGL-2 rating reflects improved internal cash flow generation
and covenant headroom, through reduced term loan payments and debt
outstanding, as well as full availability of the $75 million
revolver.  NGPL has no material sources of alternate liquidity.

What Could Change the Rating -- Up

An upgrade could occur if the company were to deleverage further,
or increase cash flow to the point that the ratio of FFO to debt
exceeds 10%.  For NGPL to reach its investment grade goal, further
improvement in financials would have to be sustainable, such as FFO
to debt near the 15% range.

What Could Change the Rating -- Down

The positive outlook suggests that a downgrade is unlikely over the
next 12-18 months; however, if FFO to debt were to remain at
current levels (i.e., 4%) and market conditions were to prove
exceedingly challenging (e.g., the inability to re-contract at
similar terms and conditions).

Headquartered in Houston, Texas, NGPL PipeCo. LLC owns the Natural
Gas Pipeline Company of America.  It is a joint venture between
Kinder Morgan Inc. and Brookfield Infrastructure Partners.

The principal methodology used in these ratings was Natural Gas
Pipelines published in November 2012.


NRAD MEDICAL: Court Extends Exclusive Plan Filing Period to July 5
------------------------------------------------------------------
The Hon. Louis A. Scarcella of the U.S. Bankruptcy Court for the
Eastern District of New York has extended, at the behest of NRAD
Medical Associates, P.C., the Debtor's exclusive period to file a
Chapter 11 plan through and including July 5, 2016, and the
Debtor's exclusive period to solicit acceptances of its Plan
through and including Sept. 6, 2016.

As reported by the Troubled Company Reporter on March 25, 2016, the
Court previously extended, for the second time, the exclusive
period within which it must file a Chapter 11 Plan through April 4,
2016, and the exclusive period within which it must solicit
acceptances of its Plan through June 3, 2016.

On April 1, 2016, the Debtor sought for the third time an extension
of the exclusive periods.  The Debtor needs additional time to
present adequate information to, and negotiate its Plan with, the
Official Committee of Unsecured Creditors and Sterling National
Bank, the Debtor's prepetition lender.

Since the Debtor's Chapter 11 filing, it has been working with its
professionals to wind down the MSP Practice (certain
multi-specialty practitioners who were parties to agreements to
which the MSP's were employed by the Debtor, certain assets were
acquired and certain obligations were assumed), fulfill its
obligations pursuant to its prepetition transaction with respect to
its imaging practice, and consummate the sale of a regional
radiation therapy practice.  The Debtor is also face with over $11
million in claims of current and former shareholders that must be
addressed.  The Debtor has been working with the Committee on those
matters but a resolution has yet to be reached.

The Debtor has had substantial negotiations to date with the
Committee and Sterling regarding a plan of reorganization, and
believes that additional time is necessary in order to continue
negotiations and prepare a consensual plan.

Nine months have passed since the Petition Date, which is not a
sufficient amount of time to propose a plan during the Debtor's
wind down of its operations.

                   About NRAD Medical Associates

NRAD Medical Associates, P.C., operated a regional radiology
imaging medical practice and a regional radiation therapy practice
with 16 locations throughout Long Island and Queens, New York.  In
June 2015, NRAD sold most of the assets utilized in the imaging
practice assets in June 2015 to Meridian Imaging Group, LLC.  In
addition, NRAD and certain multi-specialty practitioners (e.g.
gynecologists, internists, surgeons) were parties to agreements
pursuant to which MSPs were employed by NRAD, certain assets
require acquired and certain obligations were assumed.

NRAD Medical sought Chapter 11 bankruptcy protection (Bankr.
E.D.N.Y. Case No. 15-72898) in Central Islip, New York, on July 7,
2015.  The case is assigned to Judge Louis A. Scarcella.

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

The Debtor is represented by Anthony C Acampora, Esq., at Silverman
Acampora LLP, in Jericho, New York.

                           *     *     *

On Aug. 13, 2015, the U.S. Trustee appointed David Kaplan, M.D.,
Henry Schein, Julian Safir, M.D., Nuclear Diagnostic Products and
415 Northern Blvd. Realty to the Official Committee of Unsecured
Creditors.  The Committee tapped Farrell Fritz, P.C. as counsel.

On Sept. 10, 2015, the Court approved the sale of substantially all
of the assets of the Debtor's RT Practice to St. Francis Hospital,
Roslyn, NY, or its designee, free and clear of all liens, and
claims.  On Sept. 24, 2015, the Court entered an order approving
the RT Sale.  On Oct. 14, 2015, the Debtor filed its notice of
closing and effective date with respect to the RT sale.


OIL STATES INT'L: Egan-Jones Cuts FC Sr. Unsec. Rating to BB
------------------------------------------------------------
Egan-Jones Ratings Company lowered the foreign currency senior
unsecured rating on debt issued by Oil States International Inc. to
BB from A+ on May 5, 2016.  EJR also lowered the local currency
senior unsecured rating on debt issued by the Company to BB from
BB+.

Oil States International, Inc. provides specialty products and
services to oil and gas drilling and production companies.  The
Company supplies connection technology for offshore oil and gas
development and production, distributes tubular goods, and
furnishes hydraulic workover and well control services.  Oil States
also provides remote site accommodations, catering, and logistics.


OSHER AND OSHER: Court OKs Sale of Olympic Boulevard Property
-------------------------------------------------------------
Judge Mauree A. Tighe on May 13, 2016, entered an order authorizing
Osher and Osher, Inc., to sell to sell commercial real property of
the Debtor's estate, located at 1310 East Olympic Boulevard, Los
Angeles, California 90021, to Jade Enterprises, LLC, outside the
ordinary course of business for the sum of $3,076,000.

The Debtor is also authorized to sell the Olympic Boulevard
property to back-up bidder Sayan Bamshad or his assignee in the
event Jade, the winning bidder, fails to close on the sale.  In the
event Jade is unable, for any reason, to complete the purchase of
the Olympic Boulevard Property within the later of: five business
days following entry of the May 13 Order, or two business days
following the issuance of a title policy that complies with this
Order, the $75,000 earnest money deposit tendered by Jade will be
forfeited to Debtor, and Debtor is authorized to sell to Sayan
Bamshad the Olympic Boulevard Property, outside the ordinary course
of business, for the sum of $3,071,000.

The Debtor is authorized to pay from the sale proceeds and through
escrow:

   (a) $1,864,342, together with $1,120 per day from and after May
15, 2016 ("Lone Oak Claim"), unless otherwise agreed by Lone Oak
Fund in writing, to Lone Oak Fund in full satisfaction of its first
priority deed of trust lien; and

   (b) $32,277 or such other sum as agreed to by Debtor in writing,
to the Los Angeles County Tax Collector in satisfaction of its tax
lien(s), if any; and

   (c) costs of sale, including escrow fees and closing costs.

General Insolvency Counsel for Osher And Osher:

         LAW OFFICES OF RAYMOND H. AVER, APC
         Raymond H. Aver
         1950 Sawtelle Boulevard, Suite 120
         Los Angeles, CA 90025
         Telephone: (310) 571-3511
         E-mail: ray@averlaw.com

Osher and Osher, Inc., sought Chapter 11 protection (Bankr. C.D.
Cal. Case No. 16-10069) on Jan. 11, 2016.  The case judge is Hon.
Maureen Tighe.  The Debtor estimated assets and debt of $1 million
to $10 million.


PACIFIC EXPLORATION: Claims Bar Date Set for June 10
----------------------------------------------------
The Ontario Superior Court of Justice on May 10, 2016, entered an
order establishing a procedure for the purpose of identifying and
determining all claims against Pacific Exploration & Production
Corporation and its directors or officers -- including former
directors and officers -- that are to be affected in the Pacific's
Plan of Compromise and Arrangement under the Companies' Creditors
Arrangement Act.

The claims bar date is 5:00 p.m. (Toronto Time) on June 10, 2016.
The restructuring period claims bar date is 5:00 p.m. (Toronto
Time) on the date that is seven calendar days after termination or
repudiation of the agreement or other event giving rise to the
restructuring period claim.

Creditors requiring information or claim document may contact the
monitor at:

   PricewaterhouseCoopers Inc.
   Monitor of Pacific Exploration & Production Corporation et al.
   PwC Tower
   18 York Street, Suite 2600
   Toronto, Ontario M5J 0B2
   Attention: Tammy Muradova
   Canada/US Toll Free: +1 844-855-8568
   Colombia Toll Free: 01 800-518-2167
   Or US Direct: +1 503-520-4469
   Fax: +1 416-814-3219

A copy of the order and other public information concerning CCAA
proceedings can be found at http://pwc.com/ca/pacific

               About Pacific Exploration & Production

Pacific Exploration & Production Corp. is a Canadian public Company
and a leading explorer and producer of natural gas and crude oil,
with operations focused in Latin America.  The Company has a
diversified portfolio of assets with interests in more than 70
exploration and production blocks in various countries including
Colombia, Peru, Guatemala, Brazil, Guyana and Belize.  The
Company's strategy is focused on sustainable growth in production &
reserves and cash generation.


PACIFIC EXPLORATION: Moody's Affirms Then Withdraws 'C' CFR
-----------------------------------------------------------
Moody's Investors Service affirmed Pacific Exploration and
Production Corp (Pacific E&P)'s C Corporate Family Rating and the C
ratings on the company's senior unsecured notes.  These actions
follow Pacific E&P's announcement that it and certain other
subsidiaries had voluntarily filed for protection pursuant to the
Companies' Creditors Arrangement Act (CCAA) in Canada.

Subsequent to the actions, all ratings will be withdrawn.

Issuer: Pacific Exploration and Production Corp

Affirmations:

  Corporate Family Rating, Affirmed C
  Senior Unsecured Regular Bond/Debentures, Affirmed C

                         RATINGS RATIONALE

Pacific E&P's ratings were affirmed, which reflects Moody's view of
the potential overall family recovery.

The principal methodology used in these ratings was Global
Independent Exploration and Production Industry published in
December 2011.

Pacific Exploration and Production Corporation (Pacific E&P) is a
Canadian-based exploration and production company with production
operations primarily in Colombia, where it is the second largest
producer.


PALOMAR HEALTH: Moody's Affirms Ba1 Rating on Revenue Bonds
-----------------------------------------------------------
Moody's Investors Service revises Palomar Health's (CA) revenue
bond rating outlook to stable, and affirms the Ba1 rating on
Palomar Health's (PH) revenues bonds, affecting $561 million of
debt.

Moody's also rates $590 million of PH's general obligation bonds,
which currently have a rating of A2.  The general obligation bonds
are secured by the district's voter-approved unlimited property tax
pledge and general obligation bondholders do not have any recourse
to the hospital for payments under the bonds.  Tax revenues,
payments, and principal related to the general obligation bonds
have been excluded from this analysis.

The affirmation of the Ba1 revenue bond rating and the revision of
the outlook to stable reflects improved operating performance, and
growing cash measures.  Ongoing challenges include: the need to
further improve operating performance to achieve satisfactory debt
coverage levels; ongoing operating losses due to very high interest
expense and depreciation expense, and very thin headroom to one
covenant.  These challenges are counterbalanced by certain
fundamental strengths, including leading market position in
northern San Diego county, the absence of immediate competition,
PH's status as the largest district hospital in the state, and a
certain level of stability PH enjoys due to its contract with
Kaiser.

Rating Outlook

The stable outlook reflects improved operating performance and
balance sheet measures, and the expectation that all measures will
continue to improve.

Factors that Could Lead to an Upgrade

  Significantly improved liquidity
  Significantly improved debt measures

Factors that Could Lead to a Downgrade

  Return to weaker operating performance
  Failure to improve liquidity
  Issuance of any additional debt

Legal Security

Revenue bonds are secured by a pledge of gross revenues of the
system and are backed by a fully funded debt service reserve fund.
Per a continuing disclosure agreement entered into in 2009, PH
makes available unaudited interim financial statements on a
quarterly basis.

Use of Proceeds

  Not applicable

Obligor Profile

PH is the largest public health care district in the State of
California, with over $700 million of revenues in 2015, and
generating over 30,000 admissions.  The district operates
in-patient facilities in the towns in Escondido and Poway, and
captures a 51% market share within the district.  PH was formerly
known as Palomar Pomerado Health and changed its name per board
resolution in May 2012.

Methodology

The principal methodology used in this rating was Not-For-Profit
Healthcare Rating Methodology published in November 2015.


PEABODY ENERGY: Moody's Assigns B1 Rating on $500MM DIP Term Loan
-----------------------------------------------------------------
Moody's Investors Service assigned a B1 rating to the $500 million
debtor-in-possession (DIP) term loan entered into by Peabody Energy
Corporation to provide the company with the necessary liquidity as
it goes through the Chapter 11 restructuring process. The term loan
is part of the $800 million DIP financing, which includes $200
million bonding accommodation to help secure reclamation
obligations and $100 million cash collateralized letter of credit
facility.

The rating primarily reflects the collateral coverage available to
the DIP lenders under the term loan and the structural features of
the DIP facilities.  The term loan is secured by substantially all
domestic assets of the company, includes a super priority claim
under the Bankruptcy Code, and has upstream secured guarantees from
all of Peabody's material domestic subsidiaries.  The rating also
considers the size of the DIP facilities as a percentage of
pre-petition debt and the nature of the bankruptcy and
reorganization.  The company and certain of its wholly-owned
subsidiaries have filed for relief under Chapter 11 of the United
States Bankruptcy Code in the Eastern District of Missouri on April
13, 2016.

The rating on the DIP term loan is being assigned on a
"point-in-time" basis and will not be monitored going forward and
therefore no outlook is assigned to the rating.

                        RATINGS RATIONALE

The proceeds of the DIP term loan will be used to help provide the
necessary liquidity as the company moves through the restructuring
process and for general corporate purposes.  The $500 million DIP
facility will mature on April 18, 2017 and requires the company to
maintain minimum liquidity of $300 million.  The company also
reached an agreement with its securitization financing provider to
continue its accounts receivable securitization facility through
the bankruptcy process over a term of two years, with a reduced
base of $180 million.  The facility is currently used to support
the company's letters of credit.  As of March 31, 2016, the company
had $746 million in cash and cash equivalents.

Obligations under the DIP term loan are guaranteed on a
super-priority senior secured basis by the company's domestic
subsidiaries, and have a first priority lien on all domestic assets
of the company, subject to certain carve outs and exceptions, such
as the accounts receivables collateralizing the accounts receivable
securitization facility.

The B1 rating assigned to the term loan predominantly reflects the
collateral coverage, which consists primarily of US-based inventory
and US-based property, plant and equipment ($3.9 billion book value
at Dec. 31, 2015).  The exact coverage on the term loan in the
event of liquidation is uncertain and would depend on market
conditions at the time of liquidation of the asset base, among
other factors.  Moody's estimates that collateral coverage on the
term loan would be in excess of 100%.

The rating reflects other structural features of the term loan,
including upstream guarantees from all of company's material
domestic subsidiaries and certain protections afforded by
restrictive covenants, including limitations on capital
disbursements and minimum EBITDA and liquidity tests.

The rating is constrained by our expectation that the current
challenged operating environment, along with the existence of
multiple classes of pre-petition creditors and intercompany debt
owed by foreign subsidiaries in Australia, can render the
reorganization process lengthy and complex and make recovery more
challenging.  Peabody's Chapter 11 filing was precipitated by the
persistently weak thermal and metallurgical coal markets which
ultimately rendered the company's capital structure untenable.
Pre-petition, Peabody carried over $6 billion in debt and over $2
billion in legacy liabilities including pensions, post-retirement
medical and asset retirement obligations.  In 2015 the company
generated $5.6 billion in revenues and $750 million in EBITDA, as
adjusted by Moody's.  Moody's expects that the company will emerge
from the reorganization process with a reduced footprint and a
smaller revenue base.

The principal methodology used in this rating was
Debtor-In-Possession Lending published in March 2009.

Peabody Energy Corporation is the world's largest private sector
coal company with coal mining operations in the US and Australia
and roughly 6 billion tons of proven and probable reserves.  For
the twelve months ended Dec. 31, 2015, the company sold 228.8
million tons of coal.



PEGGY ANN: Hires Brannen Firm as Bankruptcy Counsel
---------------------------------------------------
Peggy Ann Martin Hinson Foundation, Inc., seeks authorization from
the U.S. Bankruptcy Court for the Northern District of Georgia to
employ Joseph Chad Brannen, Esq., of The Brannen Firm, LLC, as
attorney.

The Firm will:

      (a) advise the Debtor with respect to its rights, powers,
          duties, and obligations as a debtor-in-possession in the

          administration of this case, the operation of its
          business, and the management of its property;

      (b) prepare pleadings, applications, and conduct
          examinations incidental to administration;

      (c) advise and represent applicant in connection with all
          applications, motions, or complaints for reclamation,
          adequate protection, sequestration, relief from stays,
          appointment of a trustee or examiner, and all other
          similar matters;

      (d) develop the relationship of the status of debtor-in-
          possession to the claims of creditors in these
          proceedings;

      (e) advise and assist the debtor-in-possession in the
          formulation and presentation of a Plan pursuant to a
          Chapter 11 Bankruptcy Code and concerning any and all
          matters relating thereto; and

      (f) perform any and all other legal services incident and
          necessary.

The Firm will be paid at these hourly rates:

          Joseph Chad Brannen             $350
          Paralegal/Support Staff          $75

Joseph Chad Brannen, Esq., a partner at the Frim, assures the Court
that he doesn't have or represent any interest adverse to the
Debtor or the Debtor's estate, or have had any connections with the
Debtor, the Debtor's creditors, any other party-in-interest or
their respective attorneys or accountants except to any extent
disclosed.  The Firm has no partners, associates or other
professional employees who are related to any judge of the Court.

The Firm received funds prior to the petition filing in the amount
of $4,000 as retainer.  The filing fee of $1,717 was paid by the
Debtor in addition to those funds.

The Firm can be reached at:

      Joseph Chad Brannen, Esq.
      The Brannen Firm, LLC
      7147 Jonesboro Road, Suite G
      Morrow, GA 30260
      Tel: (770) 474-0847
      E-mail: chad@brannenlawfirm.com

Peggy Ann Martin Hinson Foundation, Inc., filed for Chapter 11
bankruptcy protection (Bankr. N.D. Ga. Case No. 16-56087) on April
5, 2016.


PENN VIRGINIA: Files Chapter 11 to Facilitate Restructuring
-----------------------------------------------------------
Penn Virginia Corporation on May 12 disclosed that it and certain
of its subsidiaries have filed voluntary petitions for relief under
chapter 11 of the U.S. Bankruptcy Code in the United States
Bankruptcy Court for the Eastern District of Virginia, Richmond
Division, to facilitate the deleveraging of their consolidated
balance sheet through a prearranged restructuring that will reduce
the Company's long-term debt by more than $1 billion.  In
connection with the chapter 11 filing, the Company announced its
entry into a restructuring support agreement with holders of 87%
(or $1.03 billion) of the Company's nearly $1.20 billion in total
funded-debt obligations.  Subject to Court approval, the Company
has received a commitment for $25 million in debtor-in-possession
(DIP) financing from its RBL lenders, which combined with the
Company's cash reserves and cash from operations, is expected to
provide liquidity throughout the chapter 11 process.  Additionally,
the Company has obtained a commitment for up to $128 million in
exit financing from its RBL lenders, led by Wells Fargo as agent,
as well as a $50 million rights offering that is backstopped and
supported by certain of the Company's senior unsecured
noteholders.

"This is an important step forward for Penn Virginia," said Edward
B. Cloues, II, Chairman and interim Chief Executive Officer of Penn
Virginia.  "Once the restructuring is implemented, the Company will
have substantially less debt and a much stronger balance sheet.  We
will be in a better position to navigate the current industry
environment and leverage the value of our underlying assets and
operational expertise.  Importantly, the announcement [Thurs]day
provides Penn Virginia with an expedited plan to emerge from this
process with committed financing, a new money investment, and a
clear path to future production and success."

As part of the Company's "first day" motions, Penn Virginia has
asked the Court for authorization to generally continue its ongoing
employee compensation and benefit programs without change or
interruption.  Additionally, Penn Virginia has filed a Plan of
Reorganization and Disclosure Statement, which incorporate the
terms of the restructuring agreement and other commitments made by
the RBL Lenders and the supporting noteholders.  The Company
anticipates emerging from chapter 11 by the end of the summer.

"Like many other exploration and production companies, Penn
Virginia has been significantly affected by the recent and
continued dramatic decline in oil and natural gas prices.  We
believe using the chapter 11 process is the most efficient way to
achieve our financial objectives and deleverage the Company's
balance sheet," said Mr. Cloues.  "The ongoing commitment from our
valued business partners and hard-working employees is a testament
to the strength of our organization, and we sincerely appreciate
their loyalty and support."

Jefferies is acting as financial advisor, Alvarez & Marsal is
acting as restructuring advisor (with R. Seth Bullock of Alvarez &
Marsal serving as Chief Restructuring Officer), and Kirkland &
Ellis LLP is acting as legal counsel to the Company in connection
with the debt restructuring.  PJT Partners is acting as financial
advisor and Milbank, Tweed, Hadley & McCloy LLP is acting as legal
advisor to the ad hoc committee of noteholders.  Opportune LLP is
acting as financial advisor and Bracewell LLP is acting as legal
advisor to Wells Fargo (as agent) and the RBL lenders.  

                 About Penn Virginia Corporation

Penn Virginia Corporation -- http://www.pennvirginia.com-- is an
independent oil and gas company engaged in the exploration,
development and production of oil, NGLs and natural gas in various
domestic onshore regions of the United States, with a primary focus
in the Eagle Ford Shale in South Texas.  

                          *     *     *

As previously reported by The Troubled Company Reporter, on April
25, 2016, reported that Standard & Poor's Ratings Services lowered
its corporate credit rating on U.S.-based oil and gas exploration
and production company Penn Virginia Corp. to 'D' from 'CCC'.

At the same time, S&P lowered its issue-level rating on the
company's senior unsecured debt to 'D' from 'CC'.  The recovery
rating is '6', indicating S&P's expectation of negligible (0% to
10%) recovery in the event of a payment default.

The 'D' rating reflects Penn Virginia's decision not to make the
interest payment on its 7.25% senior unsecured notes due 2019 on
April 15, and S&P's belief that the company will not make this
payment before the 30-day grace period ends.  S&P believes the
company will likely reorganize under
Chapter 11.


PENN VIRGINIA: Moody's Lowers PDR to D-PD on Bankr. Filing
----------------------------------------------------------
Moody's Investors Service downgraded Penn Virginia Corporation's
(PVA) Probability of Default Rating to D-PD from Caa3-PD following
the company's filing voluntary petitions in United States
Bankruptcy Court for the Eastern District of Virginia, Richmond
Division, seeking relief under the provisions of Chapter 11 of the
United States Bankruptcy Code.  Moody's also downgraded PVA's
Corporate Family Rating (CFR) to Ca from Caa3, and the senior
unsecured notes to C from Ca.  The Speculative Grade Liquidity
Rating was affirmed at SGL-4, and the outlook remains negative.

Moody's will withdraw all of PVA's ratings and outlook in the near
future.

This summarizes the ratings.

Ratings downgraded:
  Corporate Family Rating to Ca from Caa3
  Probability of Default Rating to D-PD from Caa3-PD
  Sr Unsec notes due 2019, to C (LGD5) from Ca (LGD 4)
  Sr Unsec notes due 2020,to C (LGD5) from Ca (LGD 4)

Ratings affirmed:
  Speculative Grade Liquidity Rating -- SGL-4

Outlook- Negative

                          RATINGS RATIONALE

PVA's bankruptcy filing has resulted in the company's PDR being
downgraded to D-PD.  The CFR was downgraded to Ca to reflect our
expectations for the recovery rate.

The principal methodology used in these ratings was Global
Independent Exploration and Production Industry published in
December 2011.

Penn Virginia Corporation, headquartered in Radnor, Pennsylvania,
is a publicly traded oil and gas company primarily engaged in the
development, exploration, and production of natural gas and oil in
the Eagle Ford shale basin in Texas, but also has less significant
operations in Oklahoma.



PETROLEUM PRODUCTS: Hires Doeren Mayhew as Tax Accountants
----------------------------------------------------------
Petroleum Products & Services, Inc. d/b/a Wellhead Distributors
International, seeks authority from the U.S. Bankruptcy Court for
the Southern District of Texas to employ Doeren Mayhew as tax
accountants to the Debtor.

Petroleum Products requires Doeren Mayhew to:

   -- assist the Debtor with the preparation and filing of
      Debtor's 2015 federal income tax return, franchise tax
      returns, any other applicable state or federal tax return
      that may be requested by the Debtor; and

   -- to provide tax advisory services that may be required to
      comply with the United States Bankruptcy Code or the
      requirements of the Office of the United States Trustee.

Doeren Mayhew will be paid at these hourly rates:

     Partner                 $450
     Manager                 $285–$350
     Staff                   $140-$255
     Administrative          $45-$90

Prior to the Petition Date, the firm provided financial advisory,
tax and audit services to the Debtor and their related non-debtor
entities. Doeren Mayhew holds a pre-petition claim in the amount of
$72,213 with respect to services provided to the Debtor.

Juan Padilla, CPA of Doeren Mayhew, 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.

Doeren Mayhew can be reached at:

     Juan Padilla, CPA
     DOEREN MAYHEW
     One Riverway, Suite 1200
     Houston, TX 77056,
     Tel: (713) 798-7077

                      About Petroleum Products

Petroleum Products & Services, Inc.(d/b/a Wellhead Distributors
Int'l and dba WDi) distributes API-6A wellhead equipment and valves
used in the petroleum and natural gas industries.

The Company filed a Chapter 11 bankruptcy petition (Bankr. S.D.
Tex., Case No. 16-31201) on March 4, 2016. Alejandro Kiss signed
the petition as president. The Debtor estimated assets in the range
of $10 million to $50 million and liabilities of at least $10
million.

The Debtor has engaged Hoover Slovacek, LLP as counsel and Hirsch
Westheimer, P.C. as special litigation counsel.


PHOTOMEDEX INC: Incurs $4.87 Million Net Loss in First Quarter
--------------------------------------------------------------
Photomedex, Inc., filed with the Securities and Exchange Commission
its quarterly report on Form 10-Q disclosing a net loss of $4.87
million on $11.2 million of revenues for the three months ended
March 31, 2016, compared to a net loss of $10.01 million on $20.7
million of revenues for the same period in 2015.

As of March 31, 2016, PhotoMedex had $31.89 million in total
assets, $23.7 million in total liabilities, and $8.17 million in
total stockholders' equity.

At March 31, 2016, the Company's current ratio was 1.09 compared to
1.31 at Dec. 31, 2015.  As of March 31, 2016 the Company had $1.99
million of working capital compared to $6.46 million as of
Dec. 31, 2015.  Cash and cash equivalents were $3.12 million as of
March 31, 2016, as compared to $3,302,000 as of Dec. 31, 2015. In
addition, the Company had $91 in short term bank deposits as of
March 31, 2016.  Restricted cash was $1.51 million as of March 31,
2016, as compared to $724,000 as of Dec. 31, 2015.

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

                    https://is.gd/DkV4Vf

                      About PhotoMedex

PhotoMedex, Inc., is a global health products and services company
providing integrated disease management and aesthetic solutions to
dermatologists, professional aestheticians, ophthalmologists,
optometrists, consumers and patients.  The Company provides
proprietary products and services that address skin conditions
including psoriasis, vitiligo, acne, actinic keratosis, photo
damage and unwanted hair, as well as fixed-site laser vision
correction services at our LasikPlus(R) vision centers.

PhotoMedex and its subsidiaries has entered into a second
amended and restated forbearance agreement with the lenders that
are parties to the credit agreement dated May 12, 2014, and with JP
Morgan Chase, as administrative agent for the Lenders pursuant to
which the Lender have agreed to forbear from exercising their
rights and remedies with respect to certain events of default from
Aug. 25, 2014, until April 1, 2016, or earlier if an event of
default occurs, according to a document filed with the Securities
and Exchange Commission in March 2015.

Photomedex reported a net loss of $34.6 million on $75.9 million of
revenues for the year ended Dec. 31, 2015, compared to a net loss
of $121 million on $133 million of revenues for the year ended Dec.
31, 2014.


PIONEER HEALTH: Wins Extension to File Statement and Schedules
--------------------------------------------------------------
Pioneer Health Services, Inc., sought and obtained an extension to
May 3, 2016, of the time within which it may file its statement of
financial affairs, schedules and other initial documents.

                      About Pioneer Health

Pioneer Health Services, Inc., and its debtor-affiliates, including
Medicomp Inc., filing separate Chapter 11 bankruptcy petitions
(Bankr. S.D. Miss. Case No. 16-01119 to 16-01126) on March 30,
2016.  The Debtors provide healthcare services to rural
communities, and own and manage rural critical access hospitals.

Judge Hon. Neil P. Olack presides over the Debtors' cases.  The Law
Offices of Craig M. Geno PLLC serves as the Debtors' counsel.

Pioneer Health Services estimated $10 million to $50 million in
both assets and liabilities.  The petitions were signed by Joseph
S. McNulty III, president.


POSTROCK ENERGY: Time to File Schedules of Assets Extended
----------------------------------------------------------
Stephen J. Moriarty, Chapter 11 Trustee for PostRock Energy
Corporation, et al., sought and obtained a second extension of time
to file schedules of assets and liabilities and statement of
financial affairs.

The U.S. Bankruptcy Court for the Western District of Oklahoma
extended the deadline to file Schedules until May 13, 2016.

                About PostRock Energy Corporation

Headquartered in Oklahoma City, Oklahoma, PostRock Energy
Corporation, PostRock Energy Services Corporation, PostRock
MidContinent Production LLC, PostRock Eastern Production, LLC,
PostRock Holdco, LLC, and STP Newco, Inc. are engaged in the
acquisition, exploration, development, production and gathering of
crude oil and natural gas.  The Debtors' primary production
activity is focused in the Cherokee Basin, a 15-county region in
southeastern Kansas and northeastern Oklahoma.  The Debtors have
approximately 129 employees.

PostRock Energy, et al., filed Chapter 11 bankruptcy petitions
(Bankr. W.D. Okla. Lead Case No. 16-11230) on April 1, 2016.  Clark
Edwards signed the petitions as president.  The Debtors estimated
assets in the range of $10 million to $50 million and debt of up to
$100 million.

Crowe & Dunlevy, P.C. serves as the Debtors' counsel.

Judge Sarah A. Hall is assigned to the cases.


PRIMORSK INTERNATIONAL: Exclusive Plan Filing Extended to Sept. 12
------------------------------------------------------------------
The Hon. Martin Glenn of the U.S. Bankruptcy Court for the Southern
District of New York has extended, at the behest of Primorsk
International Shipping Limited, et al., (a) the exclusive period
during which only the Debtors may file a plan of reorganization
through and including Sept. 12, 2016, and (b) the exclusive period
during which only the Debtors may solicit acceptances of a plan of
reorganization through and including Nov. 10, 2016.

As reported by the Troubled Company Reporter on April 28, 2016, the
Debtors sought the extension, saying that they have engaged their
stakeholders in substantial discussion regarding various
restructuring alternatives, and have determined that it is in the
best interests of the Debtors' estates and creditors to pursue a
potential sale of the Debtors' nine vessels at this time.  The
Debtors believe that the vessels may prove attractive to potential
buyers in the product tanker and crude oil tanker industry, and
that the sale of the vessels may generate significant proceeds for
the benefit of the Debtors' estates.  The Debtors thus intend at
this time to focus their restructuring efforts on conducting a
value-maximizing marketing process and, based on the outcome of the
marketing process, will proceed with the development, filing and
implementation of an appropriate Chapter 11 plan.

                   About Primorsk International

Headquartered in Nicosia, Cyprus, Primorsk International Shipping
Limited (Prisco) aka PISL operates a fleet of ice-class oil
tankers in the Arctic.  It was founded in 2004 and is owned by
Apington Investments, a British Virgin Islands holding company,
which is controlled by Russian native Alexander Kirilichev.

Primorsk sought Chapter 11 bankruptcy protection (Bankr. S.D.N.Y.
Case No. 16-10073) in New York, in the U.S., on Jan. 15, 2016.
Affiliates Boussol Shipping Limited, Malthus Navigati on Limited,
Jixandra Shipping Limited, Levaser Navigation Limited, Hermine
Shipping Limited, Laperouse Shipping Limited (Bankr. S.D.N.Y. Case
No. 16-10079), Prylotina Shipping Limited, Baikal Shipping Ltd,
and Vostok Navigation Ltd. also filed separate Chapter 11
bankruptcy petitions.  The bankruptcy petitions were signed by
Holly Felder Etlin, chief restructuring officer.  Judge Martin
Glenn presides over the cases.

The Debtor disclosed total assets of $6,018,821 and total
liabilities of $351,352,076 as of the Chapter 11 filing.

Andrew G. Dietderich, Esq., at Sullivan & Cromwell LLP serves as
the Debtors' bankruptcy counsel.  AlixPartners, LLP, is the
Debtors' financial and restructuring advisor.


PRIMROSE LA SARA: BlakEnergy, et al., Want Trustee to Take Over
---------------------------------------------------------------
Creditors of Primrose La Sara, LLC, on May 16, 2016, filed a motion
for the appointment of a Chapter 11 trustee to oversee the Debtor's
affairs.

BlakEnergy, Ltd., New Energy La Sara, Inc., and Eva S. Engelhart --
the Chapter 7 Trustee for Chapter 7 bankruptcy estate of La Sara
Operating Company, LLC -- aver that since Primrose filed for
bankruptcy, it has done nothing to assure either this Court or the
creditors that it is capable of reorganization, or worse, even
willing to do so.  They note that Primrose has failed to comply
with even the most basic of duties of a debtor-in-possession such
as filing of monthly operating reports with this Court.
Unrestrained by a sense of fiduciary responsibility or good
intentions, and despite its bankruptcy filing, Primrose is still
doing whatever it wants, whenever it wants, just like it always has
with Miles Klepper at the helm.

"There are many examples of Primrose's mismanagement that will be
discussed in this motion but they pale in comparison to the
outright fraud, breaches of fiduciary duties and usurpation of the
Debtor's corporate opportunities by Debtor's management who, at
this moment, are drilling and completing wells on acreage
immediately adjacent to Debtor's Yturria leases in Willacy County,
Texas. And they are doing so by forming a new entity called
"Huisache E&P Operating, LLC", whose owners include Debtor's
President, Miles Klepper, and a coterie of other investors who had
already received a fraudulent transfer of a 37% working interest in
the Yturria leases shortly prior to the Petition Date (representing
more than 50% of Debtor's total pre-transfer assets).  There is no
question that Klepper and his minions used proprietary information
belonging to the Debtor, including confidential seismic data and
well information, to exploit the adjoining property at the expense
and loss of Primrose," Barnet B. Skelton, Jr., Esq., at Barnet B.
Skelton, Jr., P.C., said in the court filing.

"As recently as May 11, 2016, Klepper continued his plan to gut the
Debtor of its assets by filing a motion to sell substantially all
of the Debtor's assets to "Humid Oil Company, LLC," a newly formed
company who Movants are informed and believe is owned by the same
group of investors who received the fraudulent transfer of a 37%
working interest for no value in October of 2015.  Movants are
informed and believe that Klepper has a direct or indirect
ownership interest in these entities and has actual or de facto
control of them."

"Primrose's history is replete with other examples of its
management under Miles Klepper, syphoning funds in the millions of
dollars to himself, other companies he controls and individuals
with no connection with the company.  Miles Klepper's kleptocracy
must be brought to a prompt and decisive end; his misdeeds must be
investigated and redressed by appropriate legal actions brought by
a disinterested fiduciary."

"Unless corrected by a Chapter 11 Trustee immediately, Primrose's
continued fraud and gross mismanagement will lead to liquidation.
Indeed, given Primrose's misconduct to date, liquidation would look
like an attractive alternative to reorganization were it not for
the fact that Primrose's most valuable assets are leases with
continuous drilling clauses that must be complied with in order to
maintain the leases.  Thus it is imperative to continue operating
with competent and honest Trustee managing the business. Moreover,
the Trustee must take appropriate steps immediately to remove MK
Operating, LLC, another Klepper controlled entity, as operator.
Because Primrose's ownership and management have shown they are
incapable and decidedly unwilling to steer the company toward
reorganization a Chapter 11 Trustee must be appointed if there is
any hope to save the company's valuable assets and avoid
liquidation."

Attorneys for BlakEnergy, Ltd.

          BARNET B. SKELTON, JR., P.C.
          Barnet B. Skelton, Jr.
          712 Main Street, Suite 1610
          Houston, Texas 77002
          Tel: (713)-659-8761
          Fax: (713)-659-8764
          E-mail: barnetbjr@msn.com

Attorneys for the Trustee of the Chapter 7 bankruptcy estate of La
Sara Operating Company:

         ROSS, BANKS, MAY, CRON & CAVIN, P.C.
         Marc Douglas Myers
         7700 San Felipe, Suite 550
         Houston, Texas 77063
         Tel: (713) 626-1200
         Fax: (713) 623-6014
         E-mail: mmyers@rossbanks.com

ATTORNEY for New Energy La Sara, Inc.:

         Dean W. Ferguson
         DEAN W. FERGUSON
         19311 Water Point Trail
         Kingwood, Texas 77346
         Tel: (713)834-2399
         E-mail: dean@dwferglaw.com

                      About Primrose La Sara

Primrose La Sara, LLC, sought protection under Chapter 11 of the
Bankruptcy Code in the U.S. Bankruptcy Court for the Southern
District of Texas (Houston) (Case No. 16-30822) on February 17,
2016. The petition was signed by Miles Klepper, president.

The Debtor is represented by Richard L Fuqua, II, Esq., at Fuqua &
Associates, PC.  The case is assigned to Judge Karen K. Brown.

The Debtor estimated both assets and liabilities in the range of
$1
million to $10 million.


PURADYN FILTER: Incurs $415,000 Net Loss in First Quarter
---------------------------------------------------------
Puradyn Filter Technologies Incorporated filed with the Securities
and Exchange Commission its quarterly report on Form 10-Q
disclosing a net loss of $415,057 on $438,186 of net sales for the
three months ended March 31, 2016, compared to a net loss of
$265,983 on $706,629 of net sales for the same period in 2015.

As of March 31, 2016, Puradyn had $1.62 million in total assets,
$14.50 million in total liabilities and a total stockholders'
deficit of $12.87 million.

As of March 31, 2016, the Company had cash of $84,132, as compared
to $34,471 at Dec. 31, 2015.  At March 31, 2016, the Company had
negative working capital of $997,948 and its current ratio (current
assets to current liabilities) was 0.554 to 1.  At
Dec. 31, 2015, the Company had negative working capital of
$1,016,765 and its current ratio was 0.49 to 1.  The decrease in
working capital deficit and increase in current ratio is primarily
attributable to the increase in cash, offset by decreased inventory
and increases in accounts payable and deferred compensation.

Kevin G. Kroger, president and COO, commented, "The decline in our
2016 first quarter sales compared to the first quarter of 2015 was
due to continued concerns from customers over oil price
instability.  However, as we see a slow but steady climb in crude
oil prices since late February, we are also seeing renewed interest
from many contractors as they begin preparing rigs for resumed
demand for oil and gas exploration.

"With this in mind, we expect 2016 to continue to have its
challenges although we are still making progress with regard to
business opportunities through a couple of recent developments.
Last week, we announced a significant order shipped to the Middle
East by an oil and gas industry contractor based in the EU.  And,
as announced in February, strong interest continues to be generated
by the addition of DistributionNow (DNOW) to our distributor base
through its 300-location network."

Kroger concluded, "Puradyn continues to gain acceptance as a
recognized solution provider in reducing oil-related maintenance
costs.  With the interest we have seen related to the gradual
upturn in crude oil prices, as well as recent activity outside the
oil and gas industry, we remain cautiously optimistic about the
remainder of 2016."

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

                      https://is.gd/Yamc0d

                      About Puradyn Filter

Boynton Beach, Fla.-based Puradyn Filter Technologies Incorporated
(OTC BB: PFTI) designs, manufactures and markets the puraDYN's Oil
Filtration System.

Puradyn reported a net loss of $1.44 million on $1.97 million of
net sales for the year ended Dec. 31, 2015, compared to a net loss
of $1.15 million on $3.11 million of net sales for the year ended
Dec. 31, 2014.

Liggett & Webb, P.A., in Boynton Beach, Florida, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2015, citing that the Company has
experienced net losses since inception and negative cash flows from
operations and has relied on loans from related parties to fund its
operations.  These factors raise substantial doubt about the
Company's ability to continue as a going concern.


QUANTUM MATERIALS: Incurs $752,000 Net Loss in Third Quarter
------------------------------------------------------------
Quantum Materials Corp. filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $752,360 on $225,000 of revenues for the three months ended
March 31, 2016, compared with a net loss of $1.13 million on $0 of
revenues for the same period in 2015.

For the nine months ended March 31, 2016, Quantum reported a net
loss of $4.13 million on $225,000 of revenues compared to a net
loss of $980,183 on $0 of revenues for the same period in 2015.

As of March 31, 2016, Quantum had $1.06 million in total assets,
$1.48 million in total liabilities, and a total stockholders'
deficit of $419,000.

At March 31, 2016, the Company had a working capital deficit of
$1.28 million, with total current assets and liabilities of
$181,000 and $1.46 million, respectively.  Included in the
liabilities is $294,000 that is owed to the Company's officers,
directors and employees for services rendered and accrued through
March 31, 2016.  Also included in the liabilities is $363,000 of
convertible debentures, net of unamortized discount and $170,024 of
notes payable that are due within one year.  As a result, the
Company has relied on financing through the issuance of common
stock and convertible debentures, as well as advances from a
director, and shareholder and employees' wages being partially or
fully accrued but not paid with cash.

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

                      https://is.gd/oYW12x

                     About Quantum Materials

Quantum Materials Corp. and its wholly owned subsidiary, Solterra
Renewable Technologies, Inc. (collectively referred to as the
company) are headquartered in San Marcos, Texas.  The company
specializes in the design, development, production and supply of
quantum dots, including tetrapod quantum dots, a high performance
variant of quantum dots, and highly uniform nanoparticles, using
its patented automated continuous flow production process.

Weaver and Tidwell, L.L.P., in an October 13, 2015 report addressed
to the board of directors and stockholders of Quantum Materials
Corp., expressed substantial doubt about the company's ability to
continue as a going concern.  The firm audited the consolidated
balance sheets of the company as of June 30, 2015 and 2014, and the
related consolidated statements of operations, stockholders' equity
(deficit), and cash flows for each of the years in the two-year
period ended June 30, 2015.  The independent auditor noted that the
Company has suffered recurring losses from operations and has an
accumulated deficit that raises substantial doubt about its ability
to continue as a going concern.


RAILYARD COMPANY: Creditor and Trustee Assent to Cash Coll. Use
---------------------------------------------------------------
Railyard Company, LLC, filed a fourth motion seeking interim
authority from the Bankruptcy Court to use cash collateral through
May 31, 2016.

Thorofare Asset Based Lending Fund III and Chris W. Pierce, the
proposed Chapter 11 Trustee, also filed a Joint Motion seeking
authority to use cash collateral.

The Debtor's assets consist of a leasehold interest in the property
located at 500 Market St., in Santa Fe, New Mexico, and payments
collected from the subleasing of its commercial spaces, the
proceeds of which may constitute cash collateral.

Thorofare is a non-insider creditor holding a lien against such
cash collateral, holding a first mortgage on the Debtor's leasehold
interest in the Property, with a claim amount of $10,041,386.

The Parties request the Trustee to have authority to use cash
collateral: (a) to pay actual and necessary post-petition business
and administrative expenses of the Debtor, in the amounts not to
exceed 110% of the line item amount set forth on the Budget, and
(b) to pay such other ordinary operating expenses and additional
amounts for budgeted expenses as the Cash Collateral Claimant may,
in their absolute and sole discretion, approve in writing.

As adequate protection, the Debtor proposes that Thorofare shall:
(a) continue to have security interest in the Pre-Petition
Collateral, and (b) be granted Replacement Liens against property
of the same type as the Pre-Petition Collateral, to the extent of
any reduction or diminution in the value of Thorofare's collateral.
The Debtor shall pay to Thorofare $15,000 by May 31, 2016 as an
additional adequate protection.

In addition, the Trustee shall: (a) maintain accurate records of
operating revenues and expenses and provide such information to the
Cash Collateral Claimants upon reasonable written request, (b)
timely pay all post-petition payroll taxes, unemployment taxes, and
New Mexico CRS taxes incurred post-petition, and (c) maintain
insurance as required by the U.S. Trustee and as otherwise required
by the Cash Collateral Claimants.

A full-text copy of the Joint Cash Collateral Motion dated April
28, 2016, with Budget is available at https://is.gd/ebxwqA

A full-text copy of the Fourth Interim Cash Collateral Motion dated
April 28, 2016, with Budget is available at https://is.gd/a5ARBY

Railyard Company is represented by:

          William F. Davis, Esq.
          WILLIAM F. DAVIS & ASSOC., P.C.
          6709 Academy NE, Suite A
          Albuquerque NM 87109
          Telephone: (505)243-6129
          Facsimile: (505)247-3185
          E-mail: daviswf@nmbankruptcy.com

Attorneys for Thorofare Asset Based Lending Fund III, L.P.:

          Jaqueline N. Ortiz, Esq.
          Benjamin E. Thomas, Esq.
          Katharine C. Downey, Esq.
          SUTIN, THAYER & BROWNE
          A Professional Corporation
          P.O. Box 1945
          Albuquerque, NM 87103-1945
          Telephone: (505) 883-3497
          Email: jno@sutinfirm.com
                 bet@sutinfirm.com
                 kcd@sutinfirm.com

Counsel for Proposed Chapter 11 Trustee:

          Chris Pierce, Esq.
          HUNT & DAVIS, P.C.
          2632 Mesilla N.E.
          Albuquerque, NM 87110
          Telephone: (505) 881-3191
          Facsimile: (505) 881-4255
          E-mail: chris@huntdavislaw.com

               About Railyard Company

Railyard Company, LLC, owns and developed two-story Market Station
that houses the REI sporting goods store and other tenants.  It
filed a Chapter 11 petition (Bankr. D. N.M. Case No. 15-12386) on
Sept. 4, 2015.  The petition was signed by Richard Jaramillo as
managing member.  The Debtor is represented by William F. Davis,
Esq., at William F. Davis & Associates, P.C., as counsel.

The Debtor's Chapter 11 petition says the Company has about $11.2
million in debts and $13.8 million in assets.


RANGE RESOURCES: Moody's Affirms Ba3 CFR, Outlook Negative
----------------------------------------------------------
Moody's Investors Service affirmed Range Resources Corporation's
Ba3 Corporate Family Rating, Ba3 rated senior unsecured notes, and
B1 rated subordinated notes.  Range's speculative liquidity rating
was changed to SGL-3 from SGL-2.  Range's rating outlook remains
negative.  At the same time, Moody's placed under review for
upgrade Memorial Development Corp.'s (MRD) B2 CFR, B2-PD PDR, and
Caa1 rated senior unsecured notes.  MRD's SGL-2 rating remains
unchanged.

These rating actions were prompted by Range's announcement that it
will acquire MRD in an all-stock transaction valued at $4.4
billion, inclusive of MRD's net debt of $1.1 billion at March 31,
2016.  Range's senior management team will run the combined
company, and MRD will have the right to nominate one independent
director from MRD to Range's board of directors.  Closing is
expected in the second half of 2016, subject to each company's
shareholder approvals and regulatory approvals, as well as the full
divestment of MRD's interest in the general partner of Memorial
Production Partners LP (MEMP, Caa2 negative) to MEMP.  MRD expects
to close on the MEMP transaction in the second quarter of 2016.

"With the acquisition of MRD, Range will gain geographical
diversification from the Terryville complex in north Louisiana, and
Range's leverage metrics will benefit from this all-stock
transaction and MRD's lower financial leverage profile," commented
Gretchen French, Moody's Vice President.  "The positive effects of
this acquisition could support a change in the rating outlook to
stable, subject to our evaluation of the final capital structure,
combined entity's hedge position and our commodity price outlook
when the transaction closes later this year."

Issuer: Range Resources Corporation

  Corporate Family Rating, rating affirmed at Ba3
  Probability of Default Rating, rating affirmed Ba3-PD
  Senior Unsecured Bond/Debenture, rating affirmed at Ba3 (LGD 3)
  Senior Subordinated Regular Bond/Debentures, rating affirmed B1
   (LGD5)
  Speculative Grade Liquidity Rating, changed to SGL-3 from SGL-2
  Outlook, remains negative

Issuer: Memorial Resource Development Corp.

  Corporate Family Rating, B2 rating placed on review for upgrade
  Probability of Default Rating, B2-PD rating placed on review for

   upgrade
  Senior Unsecured Regular Bond/Debenture, Caa1 (LGD5) rating
   placed on review for upgrade
  Speculative Grade Liquidity Rating, Unchanged at SGL-2
  Outlook, Changed To rating under review from stable

                          RATINGS RATIONALE

The affirmation of Range's CFR reflects the increased
diversification and improved leverage metrics that will be achieved
through the MRD transaction.  These factors could support a stable
outlook at closing of the transaction, subject also to the
consideration of Moody's commodity price estimates though 2018,
integration risk, and the final capital structure.

MRD's rating review reflects MRD's expected improvement in credit
profile as part of Range, a company with significantly larger size
and scale and a higher CFR.  At a minimum, Range's acquisition of
MRD is expected to give an uplift to MRD's ratings because of the
strategic importance of the acquisition and significant equity
investment by Range.  The outcome of the review will depend upon
whether or not the MRD debt is guaranteed by Range, and if not
guaranteed then the level of financial and operational disclosures
available with respect to MRD following the close of the
acquisition in order to maintain a rating.

Range's combined asset and cash flow profile will increase and its
reserves and production will diversify outside of its core
Appalachia region as a result of the MRD acquisition.  Range's
pro-forma proved developed reserves will increase 12% from year-end
2015 and production will increase 30% from the first quarter 2016.
MRD's asset base is located in and around the Terryville complex of
northern Louisiana, where the company has demonstrated relatively
high single well economics and a strong production growth profile,
but has a more limited track record.  The addition of the Louisiana
production gives Range greater access to Gulf Coast natural gas
markets and should allow for enhanced optionality regarding the
utilization of Range's firm transportation commitments.

Given the all-stock transaction and MRD's relatively lower
financial leverage, Range's leverage metrics will improve as a
result of the transaction.  On a pro forma combined basis, the
transaction would improve Range's estimated 2016 retained cash
flow/debt metrics to 24% from 14% on a stand-alone basis.  In
addition, Moody's expects MRD to grow production in 2016 while
generating modest free cash flow.  However, both Range and MRD face
a declining hedge book profile, with significantly less volumes
hedged and lower average hedge prices in 2017 and limited hedges
currently in place for 2018.  This will result in weaker retained
cash flow/debt metrics at both companies under Moody's price
estimates.  Nevertheless, the MRD transaction could support the
maintenance of sufficient cash flow coverage of debt at Range
(retained cash flow/debt metrics in 2017 maintained over 10%) to
support a stable outlook at closing of the transaction.

There remain certain conditions to closing of the transaction that
have not yet occurred, including the divestment of MRD's interest
in the general partner of MEMP.  MEMP has a substantially weaker
credit profile than MRD on a stand-alone basis and negatively
impacts MRD's rating.

Range's SGL-3 Speculative Liquidity Rating reflects the company's
adequate liquidity profile through mid-2017, with the expectation
for increased reliance on the revolver to fund potential
change-of-control provisions associated with the MRD acquisition
and to refinance MRD's revolver debt.  To the extent the MRD's $600
million in unsecured notes are put to Range under the notes'
change-of-control provisions, Range could initially fund those
purchases, as well as the repayment of MRD's revolver drawings
($524 million as of March 31, 2016), under its revolving credit
facility.  Range has a $2.0 billion revolving credit facility
maturing October 2019, with a borrowing base of $3.0 million.  At
March 31, 2016, Range had $31 million in drawings under the credit
facility and $231 million in letters of credit, leaving $1.7
billion in availability.

Range's unsecured notes benefit from subsidiary guarantees, but are
subordinated to Range's $2 billion secured revolving credit
facility.  However, the unsecured notes are rated Ba3, the same
level as the CFR, given their priority claim over Range's senior
subordinated notes, which are rated one-notch below the CFR at B1.
Either increased revolver drawings or increased unsecured debt
levels at Range as a result of the MRD acquisition would likely
result in notching pressure on Range's B1 subordinated notes
rating.

Range's ratings could be downgraded if Range faces material
production declines, retained cash flow/debt is sustained below 10%
or its liquidity profile weakens.  To consider an upgrade, Range
would need to demonstrate its ability to sustain its ratio of
retained cash flow/debt above 15%.

The principal methodology used in these ratings was Global
Independent Exploration and Production Industry published in
December 2011.

Range Resources Corporation is an independent exploration and
production company that is headquartered in Fort Worth, Texas.

Memorial Resource Development Corp. is an exploration and
development company headquartered in Houston, Texas.


REGIONAL GASTROINTESTINAL: Case Summary & 20 Top Unsec. Creditors
-----------------------------------------------------------------
Debtor: Regional Gastrointestinal Consultants, P.C.
        301 Oxford Valley Road, Suite 804
        Yardley, PA 19067

Case No.: 16-13518

Nature of Business: Health Care

Chapter 11 Petition Date: May 17, 2016

Court: United States Bankruptcy Court
       Eastern District of Pennsylvania (Philadelphia)

Debtor's Counsel: Jeffrey S. Cianciulli, Esq.
                  WEIR & PARTNERS LLP
                  1339 Chestnut Street, Suite 500
                  Philadelphia, PA 19107
                  Tel: (215) 665-8181
                  E-mail: jcianciulli@weirpartners.com

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

Estimated Liabilities: $1 million to $10 million

The petition was signed by Andrew T. Fanelli, sole shareholder.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/paeb16-13518.pdf


REPUBLIC AIRWAYS: Meeting of Creditors Held May 16
--------------------------------------------------
A meeting of creditors in the bankruptcy cases of Republic Airways
Holdings Inc., et al., was held on May 16, 2016, at 1:00 p.m., at
the U.S. Bankruptcy Court for the Southern District of New York
located in One Bowling Green, New York City.

The filing of the cases imposed an automatic stay against most
collection activities.  This means that creditors generally may not
take action to collect debts from the debtors or the debtors'
property.  For example, while the stay is in effect, creditors
cannot sue, assert a deficiency, repossess property, or otherwise
try to collect from the debtors.  Creditors cannot demand repayment
from the debtors by mail, phone, or otherwise.  Creditors who
violate the stay can be required to pay actual and punitive damages
and attorney's fees.

Confirmation of a chapter 11 plan may result in a discharge of
debt.  A creditor who wants to have a particular debt excepted from
discharge may be required to file a complaint in the bankruptcy
clerk's office within a specified deadline.  The debtor's
representative must attend the meeting to be questioned under
oath.

                     About Republic Airways

Republic Airways Holdings Inc., based in Indianapolis, is an
airline holding company (NASDAQ: RJET) that owns Republic Airline
and Shuttle America Corporation. Republic Airline and Shuttle
America -- http://www.rjet.com/-- offer approximately 1,000
flights daily to 105 cities in 38 states, Canada, the Caribbean,
and the Bahamas through Republic's fixed-fee codeshare agreements
under our major airline partner brands of American Eagle, Delta
Connection and United Express. The airlines currently employ about
6,000 aviation professionals.

On Feb. 25, 2016 Republic Airways Holdings Inc. and 6 affiliated
debtors each filed a voluntary petition for relief under Chapter 11
of the United States Bankruptcy Code in the United States
Bankruptcy Court for the Southern District of New York. The Debtors
have requested that their cases be jointly administered under Case
No. 16-10429. The petitions were signed by Joseph P. Allman as
senior vice president and chief financial officer. Judge Sean H.
Lane has been assigned the cases.

As of Jan. 31, 2016, on a consolidated basis, Republic had assets
and liabilities of $3,561,000,000 and $2,971,000,000 (unaudited),
respectively.

Zirinsky Law Partners PLLC and Hughes Hubbard & Reed LLP are
serving as Republic's legal advisors in the restructuring. Seabury
Group LLC is serving as financial advisor. Deloitte & Touche LLP is
the independent auditor. Prime Clerk is the claims and noticing
agent.


RESTORATION HOUSE: 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 Restoration House Empowerment Ministries
International Inc.  

Restoration House Empowerment Ministries International Inc. sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D.
Fla. Case No. 16-14093) on March 23, 2016.  The Debtor is
represented by Brett A. Elam, Esq., at Farber + Elam, LLC.


RIVERSIDE PLAZA: Hires Linberger as Appraiser
---------------------------------------------
Riverside Plaza Developers LLC, seeks authority from the U.S.
Bankruptcy Court for the Northern District of Illinois to employ
Linberger & Company, LLC as appraiser to the Debtor.

Riverside Plaza requires Linberger to provide a market value
appraisal report and provide other financial advisory services to
the Debtor in connection with the Stay Motion and the Debtor's
overall restructuring efforts.

Linberger will be paid at these hourly rates:

     Mary Linberger            $325

Linberger will be paid a retainer in the amount of $3,000.

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

Mary Linberger, member of Linberger & 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.

Linberger can be reached at:

     Mary Linberger
     LINBERGER & COMPANY, LLC
     1120 Boston Post Road
     Darien, CT 06820
     Tel: (203) 655-7578
     Fax: (203) 655-7397

                       About Riverside Plaza

Riverside Plaza Developers, LLC, based in North Barrington,
Illinois, filed for Chapter 11 bankruptcy (Bankr. N.D. Ill. Case
No. 16-08747) on March 14, 2016.  Riverside Plaza Developers
indicated in its petition that it is a Single Asset Real Estate
debtor.

Judge Jack B. Schmetterer presides over the case. The Debtor is
represented by Neal L Wolf, Esq., at TETZLAFF LAW OFFICES, LLC.

The petition was signed by Mary Christine Misik, manager.


ROCKWELL MEDICAL: Reports First Quarter Results
-----------------------------------------------
Rockwell Medical, Inc., reported 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 three months ended March 31, 2015.

As of March 31, 2016, Rockwell had $89.09 million in total assets,
$8 million in total liabilities, all current, $20.9 million in
deferred license revenue, and $60.2 million in total shareholders'
equity.

Mr. Robert L. Chioini, chairman and chief executive officer of
Rockwell, stated, "We completed two key objectives in our growth
strategy during the first few months of 2016.  We secured our first
major international partnership, signing a license and supply
agreement for the rights to commercialize Triferic and Calcitriol
in the People's Republic of China.  We expect China will become the
largest dialysis market in the world over the next several years.
Also, we received our second FDA approval for Triferic, with the
April approval of the Triferic powder packet. Gaining this approval
is a significant advancement, and it will provide both production
and distribution efficiencies for Triferic."  Mr. Chioini further
stated, "We continue to make solid progress on our marketing and
reimbursement initiatives with Triferic.  This spring we have
exhibited at several conferences and as expected there has been
high interest in Triferic across the spectrum of stakeholders.  We
also continue to make progress to obtain transitional add-on
reimbursement for Triferic, which we believe will provide a
positive catalyst for providers in adopting Triferic as it will
offset their cost of conversion to an innovative therapy that
benefits their patients."

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

                    https://is.gd/0Sb3cQ

                       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.


ROSEVILLE SENIOR: Hires Walsh Pizzi as Trustee's Counsel
--------------------------------------------------------
Stephen V. Falanga, the Chapter 11 Trustee of Roseville Senior
Living Properties, LLC, seeks authority from the U.S. Bankruptcy
Court for the District of New Jersey to employ Walsh Pizzi O'Reilly
Falanga LLP as counsel to the Trustee.

Walsh Pizzi is required to do the same as those designated by the
Trustee in the Application to Retain Connell Foley LLP as primary
counsel, which Application was approved by the Bankruptcy Court by
Order dated November 16, 2015, nunc pro tunc to October 29, 2015.

Walsh Pizzi will be paid at these hourly rates:

     Professionals          Hourly Rate        Specialty

   Stephen V. Falanga          $450         Bankruptcy
   Tricia O'Reilly             $415         Litigation/Employment
   Christopher Hemrick         $350         Bankruptcy
   Sydney J. Darling           $300         Bankruptcy
   Partners/Counsel            $300-$650
   Associates                  $225-$285
   Paralegals                  $200

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

The Trustee, and the attorneys at Connell Foley LLP previously
retained to represent the Trustee, are no longer associated with
Connell Foley LLP, and are now with the law firm of Walsh Pizzi
O'Reilly Falanga LLP. The Trustee seeks to substitute Walsh Pizzi
in place of Connell Foley LLP as his counsel in connection with the
above-captioned case. All attorneys currently associated with Walsh
Pizzi were previously associated with Connell Foley LLP.

Stephen V. Falanga, member of the law firm of Walsh Pizzi O'Reilly
Falanga 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.

Walsh Pizzi can be reached at:

     Stephen V. Falanga, Esq.
     Christopher M. Hemrick, Esq.
     Sydney J. Darling, Esq.
     WALSH PIZZI O'REILLY FALANGA LLP
     One Newark Center
     1085 Raymond Blvd., 19 th Floor
     Newark, NJ 07102
     Tel: (973) 757-1100
     Fax: (973) 757-1090

                      About Roseville Senior Living

Roseville Senior Living Properties, LLC, owns and operates a senior
assisted living housing facility in Roseville, California. It filed
for Chapter 11 bankruptcy (Bankr. D.N.J. Case No. 13-31198) on
Sept. 27, 2013, in Newark, New Jersey.

The petition was signed by Michael Edrel. Edrel is the managing
director of Meecorp Capital Markets, LLC, the manager o f the
Debtor.

Walter J. Greenhalgh, Esq., at Duane Morris, LLP, represents
Roseville Senior Living Properties as counsel.  Friedman LLP serves
as the Debtor's accountant.

Roseville Senior Living Properties estimated $10 million to $50
million in assets, and $1 million to $10 million in liabilities. In
its schedules filed with the Bankruptcy Court, the Debtor indicated
total assets and total debts as "Unknown", a copy of which is
available for free at:

       http://bankrupt.com/misc/rosevillesenior.doc54.pdf

The United States Trustee for Region 3 appointed Joseph Rodrigues,
State Long Term Care Ombudsman, California Department of Aging, as
the Patient Care Ombudsman in the Debtor's case.


ROYALE BUILDERS: Court Extends Exclusive Plan Filing Until May 31
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the Western District of Missouri has
entered an order granting Royale Builders, Inc.'s motion to extend
to May 31, 2016, the exclusivity period for filing a plan and
disclosure statement.

The Court also extended to July 26, 2016, the exclusivity period to
solicit plan acceptance.

As reported by the Troubled Company Reporter on April 21, 2016, the
Debtor asked the Court for the extension, saying that cause exists
to allow the requested extensions based on the size and complexity
of issues involved in this bankruptcy case.  The Debtor believes it
has reasonable prospects for filing a viable plan of reorganization
and believes additional time will aid and assist in developing and
negotiating a comprehensive and beneficial plan.  The Debtor has
been making progress in good faith and the requested extension is
not sought to impermissibly thwart or hinder creditors.

Royale Builders, Inc., based in Kansas City, Missouri, filed for
Chapter 11 bankruptcy (Bankr. W.D. Mo. Case No. 15-61136) on
October 16, 2015.  Judge Arthur B. Federman presides over the
case.

The Debtor is represented by Jeffrey A. Deines, Esq., and Shane J.
McCall, Esq., at Lentz Clark Defines PA.

In its petition, the Debtor estimated $1 million to $10 million in
both assets and liabilities.  The petition was signed by Jim
MacLaughlin, president.

No trustee or examiner has been appointed, and no official
committee of creditors or equity interest holders has yet been
established in the case.


S & H OF WEST: 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 S & H of West Palm Beach, Inc.  

S & H of West Palm Beach, Inc. sought protection under Chapter 11
of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 16-13452) on
March 10, 2016.  The Debtor is represented by Stephen P. Orchard,
Esq., at the Law Offices of Stephen Orchard.


SAMSON RESOURCES: Files New Debt-for-Equity Ch. 11 Plan
-------------------------------------------------------
Samson Resources Corporation, et al., filed with the U.S.
Bankruptcy Court for the District of Delaware a new Chapter 11 plan
of reorganization, which contemplates an exchange of First Lien
Claims for new first lien debt (including commitments under a new
reserve-based revolving credit facility), Cash (including proceeds
from Asset Sales, if any), and new common equity.

The Chapter 11 Plan also contemplates:

   * resolution of the First Lien Lenders' adequate protection
claims such that the Allowed amount of such claims will be
materially less than that which the First Lien Lenders likely could
assert based on the diminution in value of their cash collateral to
date, even assuming no further adequate protection is awarded to
them for diminution of their other collateral;

   * distribution to holders of general unsecured claims of their
pro rata share of up to five percent of new common stock in the
reorganized company and proceeds of certain unencumbered assets;

   * at least $100 million of liquidity available to the
Reorganized Debtors as of the Effective Date, including Cash and
availability under the new first lien debt; and

   * releases of claims against the Debtors, the Reorganized
Debtors, the First Lien Agent, the First Lien Lenders, the Second
Lien Agent, the Second Lien Lenders, each of the Sponsors, the
Debtors’ non-Debtor subsidiaries, the Committee and any member
thereof, the Senior Noteholders, the Senior Notes Indenture
Trustee, and certain affiliates and related parties of each of the
foregoing.

The Exit RBL Facility will initially be a fully drawn reserve-based
first lien revolving credit facility, with an initial borrowing
base of $530 million on the Effective Date, which will be deemed
drawn in an amount of $530 million on emergence but will be
immediately paid down at closing by $65 million.

The American Bankruptcy Institute, citing Tom Hals of Reuters,
reported that Samson, one of the largest energy companies to file
for bankruptcy in the commodity downturn, proposed a new Chapter 11
exit plan that would swap ownership of the natural gas producer to
banks in return for reducing debt.  According to the report, the
new plan slashes the recovery for junior lenders, who were going to
take ownership of the company under a prior proposal that became
unworkable as the company's value has dwindled during its eight
months in bankruptcy.

The banks that would become the owners of Samson include affiliates
of JPMorgan Chase & Co (JPM.N), Bank of America Corp (BAC.N), Bank
of Montreal (BMO.TO), Citigroup Inc (C.N) and Wells Fargo & Co
(WFC.N), the report related.  The lenders would name six of seven
directors under the proposed plan, the report further related.

A full-text copy of the Disclosure Statement dated May 16, 2016, is
available at http://bankrupt.com/misc/SAMSONds0517.pdf

                About Samson Resources Corporation

Samson Resources Corporation, et al., filed Chapter 11 bankruptcy
petitions (D. Del. Lead Case No. 15-11934) on Sept. 16, 2015.
Philip W. Cook signed the petition as executive vice president and
chief financial officer.  The Debtors estimated assets and
liabilities of more than $1 billion.

Samson is an onshore oil and gas exploration and production
company with interests in various oil and gas leases primarily
located in Colorado, Louisiana, North Dakota, Oklahoma, Texas, and
Wyoming.  The Operating Companies operate, or have royalty or
working interests in, approximately 8,700 oil and gas production
sites.

Samson was acquired by KKR and Crestview from Charles Schusterman
in December 2011 for approximately $7.2 billion.  The investor
group provided approximately $4.1 billion in equity investments as
part of the purchase price.

Kirkland & Ellis LLP represents the Debtors as general counsel.
Klehr Harrison Harvey Branzburg LLP is the Debtors' local counsel.

Alvarez & Marsal LLC acts as the Debtors' financial advisor.
Blackstone Advisory Partners L.P. serves as the Debtors'
Investment banker.  Garden City Group, LLC serves as claims and
noticing agent to the Debtors.

Andrew Vara, acting U.S. trustee for Region 3, appointed three
creditors of Samson Resources Corp. and its affiliated debtors to
serve on the official committee of unsecured creditors.  The
Committee has tapped White & Case LLP as counsel and Farnan LLP as
local counsel.


SANDRIDGE ENERGY: Moody's Lowers CFR to 'Ca' Over Chap. 11 Filing
-----------------------------------------------------------------
Moody's Investors Service downgraded SandRidge Energy, Inc.'s
Probability of Default Rating to D-PD from Caa2-PD, Corporate
Family Rating to Ca from Caa2, the second lien senior secured notes
to Caa3 from B2 and the senior unsecured notes to C from Caa3.  The
rating outlook remains stable.

These actions follow SandRidge's announcement that it had filed
voluntary petitions for reorganization under Chapter 11 of the
United States Bankruptcy Code in the United States Bankruptcy Court
for the Southern District of Texas.

Downgrades:

Issuer: SandRidge Energy, Inc.

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

  Corporate Family Rating, Downgraded to Ca from Caa2

  Senior Secured Regular Bond/Debenture, Downgraded to Caa3
   (LGD 2) from B2 (LGD 2)

  Senior Unsecured Regular Bond/Debentures, Downgraded to C
   (LGD 5) from Caa3 (LGD 5)

                        RATINGS RATIONALE

The downgrade of SandRidge's PDR to D-PD is a result of the
bankruptcy filing.  The downgrade of SandRidge's other ratings
reflect Moody's view of the potential overall recoveries.

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

The principal methodology used in these ratings was Global
Independent Exploration and Production Industry published in
December 2011.

SandRidge is an independent exploration and production company
principally focused in the US Mid-Continent and Niobrara Shale. The
company is headquartered in Oklahoma City, Oklahoma.


SDI SOLUTIONS: Deadline to File Statements and Schedules Extended
-----------------------------------------------------------------
SDI Solutions LLC, et al., sought and obtained from the U.S.
Bankruptcy Court for the District of Delaware an extension of the
time to file their schedules and statements of financial affairs to
April 19, 2016, without prejudice to the Debtors' ability to
request additional extensions for cause shown.

The Debtors asserted that they faced an unexpected delay in closing
books and records for the prepetition period ending March 13, 2016.
This unexpected delay, coupled with the limited staff and
resources available to the Debtors, necessitates a brief extension
of the deadline for filing Schedules and SOFAs, the Debtors
argued.

                       About SDI Solutions

SDI Solutions LLC and SDI Opco Holdings, LLC sought protection
under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy
Court for the District of Delaware (Delaware) (Bankr. D. Del., Case
Nos. 16-10627 and 16-10628) on March 13, 2016.  The petition was
signed by David Sullivan, chief executive officer.

The cases are jointly administered under Case No. 16-10627.

The Debtors are represented by Stuart M. Brown, Esq., Kaitlin
MacKenzie Edelman, Esq., and Thomas R. Califano, Esq., at DLA Piper
LLP (US). The Debtors tapped Gulf Atlantic Capital Corp. as their
financial advisor and Donlin, Recano & Company Inc. as their claims
and noticing agent.

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


SDI SOLUTIONS: Lists $21.9-Mil. in Assets, $22.2-Mil. in Debts
--------------------------------------------------------------
SDI Solutions LLC filed with the U.S. Bankruptcy Court for the
District of Delaware its statements of financial affairs, and
schedules of assets and liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property                        $0
  B. Personal Property           $21,987,060
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                               $13,131,437
  E. Creditors Holding
     Unsecured Priority
     Claims                                          $101,598
  F. Creditors Holding
     Unsecured Non-Priority
     Claims                                        $9,043,271
                              --------------   --------------
        Total                    $21,987,060      $22,276,306

A copy of the schedules is available for free at:

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

                       About SDI Solutions

SDI Solutions LLC and SDI Opco Holdings, LLC sought protection
under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy
Court for the District of Delaware (Delaware) (Bankr. D. Del., Case
Nos. 16-10627 and 16-10628) on March 13, 2016.  The petition was
signed by David Sullivan, chief executive officer.

The cases are jointly administered under Case No. 16-10627.

The Debtors are represented by Stuart M. Brown, Esq., Kaitlin
MacKenzie Edelman, Esq., and Thomas R. Califano, Esq., at DLA Piper
LLP (US). The Debtors tapped Gulf Atlantic Capital Corp. as their
financial advisor and Donlin, Recano & Company Inc. as their claims
and noticing agent.

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


SDI SOLUTIONS: Opco Lists $0 Assets, $13.1-Mil. in Debts
--------------------------------------------------------
SDI Opco Holdings, LLC, one of the Debtors in the bankruptcy cases
of SDI Solutions LLC, et al., filed with the U.S. Bankruptcy Court
for the District of Delaware its statements of financial affairs,
and schedules of assets and liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property                        $0
  B. Personal Property                    $0
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                               $13,131,437
  E. Creditors Holding
     Unsecured Priority
     Claims                                                $0
  F. Creditors Holding
     Unsecured Non-Priority
     Claims                                            $4,714
                              --------------   --------------
        Total                             $0      $13,136,152

A copy of the schedules is available for free at:

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

                       About SDI Solutions

SDI Solutions LLC and SDI Opco Holdings, LLC sought protection
under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy
Court for the District of Delaware (Delaware) (Bankr. D. Del., Case
Nos. 16-10627 and 16-10628) on March 13, 2016.  The petition was
signed by David Sullivan, chief executive officer.

The cases are jointly administered under Case No. 16-10627.

The Debtors are represented by Stuart M. Brown, Esq., Kaitlin
MacKenzie Edelman, Esq., and Thomas R. Califano, Esq., at DLA Piper
LLP (US). The Debtors tapped Gulf Atlantic Capital Corp. as their
financial advisor and Donlin, Recano & Company Inc. as their claims
and noticing agent.

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


SEACOR HOLDINGS: Egan-Jones Cuts Sr. Unsecured Ratings to B-
------------------------------------------------------------
Egan-Jones Ratings Company downgraded the senior unsecured ratings
on debt issued by SEACOR Holdings Inc. to B- on May 5, 2016.  EJR
also downgraded the commercial paper rating on the Company to B
from A2.

SEACOR Holdings Inc. is a global provider of marine transportation
equipment and logistics services primarily servicing the U.S. and
international energy and agricultural markets. SEACOR offers
customers a diversified suite of services and equipment, including
offshore marine, inland river, storage and handling, distribution
of petroleum, chemical and agricultural commodities, and shipping.


SFX ENTERTAINMENT: Committee Hires Van Benthem as Foreign Counsel
-----------------------------------------------------------------
The Official Committee of Unsecured Creditors of SFX Entertaiment,
Inc., et al., seeks authorization from the U.S. Bankruptcy Court
for the District of Delaware to retain Van Benthem & Keulen N.V. as
foreign counsel for the Committee effective March 24, 2016.

The Committee requires VB&K to:

     a. provide analysis and advice to the Committee regarding the
Foreign Loan, the application of Dutch law and the estates’
rights and remedies in connection therewith;

     b. advise on the potential recovery for the Debtors’
unsecured creditors in connection with the issuance of the Foreign
Loan.

VB&K will be paid at these hourly rates:

     Alice van der Schee, Partner        EUR325      $367
     Robin van Driel                     EUR290      $327
     Linde Muller                        EUR245      $277    

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

Alice van der Schee, Partner of Van Benthem & Keulen N.V., assured
the Court that the firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code and does not
represent any interest adverse to the Debtors and their estates.

The following is provided in response to the request for additional
information as set forth in D1 of the U.S. Trustee's Appendix B
Guidelines:

     -- the firm did not represent the client in the 12 month
period prepetition. The billing rate for the firm are disclosed in
the Application and are subject to periodic adjustments in
accordance with the Firm;s practice.

     -- the firm anticipates filing a budget at the time it files
its interim applications, and may such budget it may file will be
prior approved by its client. In accordance with the 2013 UST
Guidelines, the budget may be amended as necessary to reflect
changed circumstances or unanticipated developments.

VB&K can be reached at:

       Alice van der Schee  
       Kantorenpark Rijnsweerd Noord
       Archimedeslaan 61
       3584 BA Utrecht
       Tel: +31 30 259 55 66
       Fax: +31 30 259 55 07
       E:mail: alicevanderschee@vbk.nl             

                  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.


SKYUP 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 Skyup LLC.  

Skyup LLC sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. S.D. Fla. Case No. 16-13241) on March 7, 2016.  The Debtor
is represented by Michael Marcer, Esq., at Marrero, Chamizo, Marcer
Law, LP.


SM ENERGY: Moody's Affirms B2 CFR & Changes Outlook to Stable
-------------------------------------------------------------
Moody's Investors Service changed SM Energy Company's rating
outlook to stable from negative.  At the same time, Moody's
affirmed the company's B2 Corporate Family Rating, B3 senior
unsecured note rating and SGL-3 Speculative Grade Liquidity (SGL)
Rating.

"The outlook change reflects SM Energy's reduced covenant violation
risks through 2017 following amendments to its credit agreement in
April 2016," commented Sajjad Alam, Moody's AVP-Analyst.  "The
amended financial covenants will ensure continued access to a
substantial source of external liquidity even in a low energy price
environment.  The significant reduction in the borrowing base
during spring redetermination also reduces the risk of another
major cut in the fall."

Issuer: SM Energy Company

Outlook:
  Changed to Stable from Negative

Ratings Affirmed:
  Corporate Family Rating, Affirmed B2
  Probability of Default Rating, Affirmed B2-PD
  Senior Unsecured Notes, Affirmed B3 (LGD4)
  Speculative Grade Liquidity Rating, Affirmed SGL-3

                       RATINGS RATIONALE

The B2 CFR reflects SM Energy's high financial leverage through
2017 as well as its declining production and cash flow trends.  Low
commodity prices have pressured management to sharply scale back
capital expenditures and drilling activities resulting in steep
volume declines in its unconventional shale properties.  SM has
historically maintained low leverage and entered this downturn with
a healthier balance sheet than many of its peers.  However, given
the severity and the prolonged nature of the price downturn,
leverage will jump in 2017 as hedges expire and production falls.
The company plans to run fewer rigs and manage its capital budget
within operating cash flow for as long as commodity prices remain
depressed.  The company also intends to use a significant portion
of its 2016 capital budget on completing previously drilled but
uncompleted wells that should slow production decline going
forward.  The B2 CFR is supported by SM Energy's significant
production platform in the Eagle Ford, balanced product mix, track
record of low-cost and efficient operations and significant
near-term hedge book.

SM Energy should have adequate liquidity through 2017, which is
captured in the SGL-3 rating.  The company has taken numerous
measures to lower its cost structure and shore up liquidity and
should be able to minimize negative free cash flow given
management's primary goal to live within operating cash flow.  The
company has hedged roughly 55% of its remaining 2016 production and
35% of its 2017 production, which should provide near term cash
flow support.  As of April 27, 2016, $955 million was available
under SM Energy's recently amended and restated $1.25 billion
revolving credit facility, which could be used to fund any
potential negative free cash flow.  The revolver has three
financial covenants: a maximum senior secured debt to EBITDAX ratio
of 2.75x, a minimum interest coverage ratio of 2x and a minimum
current ratio of 1x.  The company should have ample cushion under
these covenants through 2017.  There is limited refinancing risk
given the revolver expires in December 2019 and the nearest bond
maturity is in November 2021.  Substantially all of SM Energy's
assets are pledged as security under the credit facility; however,
some of its acreage could be sold at distressed prices, if needed.

The stable outlook reflects SM Energy's adequate liquidity and
minimal projected outspending.  The rating could be upgraded if the
company can stabilize its production profile, show an improving
trend in its leverage and sustain a RCF/debt ratio above 20%.  A
downgrade is likely if the RCF/Debt ratio falls below 10% or if
liquidity becomes weak.

The principal methodology used in these ratings was the Global
Independent Exploration and Production Industry published in
December 2011.

SM Energy Company is an independent exploration and production
company based in Denver, Colorado.


SO CAL INVESTMENTS: Hires Keller Williams as Real Estate Agent
--------------------------------------------------------------
So Cal Investments - Annex II, LLC, asks for permission from the
U.S. Bankruptcy Court for the Central District of California to
retain Rita Benelian of KW/Keller Williams, as real estate agent.

Ms. Benelian will assist in the marketing of the Debtor's El Vago
property and represent the Debtor in the negotiation of a
prospective sale.  Ms. Benelian will:

      a. order, analyze, and prepare all documentation necessary
         to list and advertise the El Vago Property for sale;

      b. list the El Vago Property with the most favorable listing

         services available; show the El Vago Property as
         necessary and respond to potential purchasers' inquiries;

         and solicit reasonable offers of purchasers;

      c. convey all reasonable purchase offers to the Debtor and
         the Debtor's counsel, as well as all parties to the
         settlement agreement and general release and subject to
         the Debtor's approval, negotiate and confirm the
         acceptance of the best offer; and

      d. cause to be prepared and submitted to escrow on behalf of

         the Debtor any and all documents necessary to consummate
         a sale of the El Vago Property.

Keller Williams and Ms. Benelian have agreed with the Debtor to
list and market the El Vago Property in return for a real estate
commission of 4%, with Keller William and Ms. Benelian to share the
commission with the prospective buyer's agent, as may be agreed by
the respective parties.

Ms. Benelian assures the Court that neither she nor Keller Williams
represent or hold an interest adverse to the Debtor's bankruptcy
estate and that they are disinterested persons with regard to the
issues that may arise during the Debtor's bankruptcy case.

Ms. Benelian can be reached at:

      Rita Benelian
      KW/KELLER WILLIAMS
      9000 West Sunset Boulevard
      West Hollywood, CA 90069
      Tel: (310) 869-5323
      Fax: (310) 388-0338
      E-mail: rbenelian@yahoo.com
      Website: RitaBrealty.com

So Cal Investments - Annex II, LLC, owns a residential property
located at 1246 El Vago Street, La Canada-Flintridge, California.
It filed for Chapter 11 bankruptcy protection (Bankr. C.D. Calif.
Case No. 14-2436) on July 23, 2014.

The Debtor is represented by:

      Raymond H. Aver, Esq.
      Law Offices of Raymond H. Aver
      A Professional Corporation
      1950 Sawtelle Boulevard, Suite 120
      Los Angeles, CA 90025
      Tel: (310) 571-3511
      E-mail: ray@averlaw.com


SOUTH COAST OIL: U.S. Trustee Forms 3-Member Committee
------------------------------------------------------
The Office of the U.S. Trustee on May 17 appointed three creditors
of South Coast Oil Corp. to serve on the official committee of
unsecured creditors.

The committee members are:

     (1) James E. McNamara
         14401 Sylvan Street, Suite 106
         Van Nuys, CA 91401

     (2) Gina Palladino Bever
         2976 Corte Hermosa
         Newport Beach, CA 92660

     (3) Donald W. White
         34472 Calle Naranja
         Capistrano Beach CA 92624

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 South Coast Oil

An involuntary petition for Chapter 11 was filed against South
Coast Oil Corporation on Sept. 19, 2007 (Bankr. C.D. Cal. Case No.
07-12994).  The involuntary Chapter 11 case was assigned to Judge
Theodor Albert.

The Petitioners were Donald W. White (owed $831,000), Joseph
Palladino (owed $25,000), and B.G. Operations, L.L.C. (owed
$15,784).  They were represented by Leonard M. Shulman, Esq., at
Shulman, Hodges & Bastian, L.L.P., in Foothill Ranch, California.


SPANISH BROADCASTING: Incurs $11.3-Mil. Net Loss in 1st Quarter
---------------------------------------------------------------
Spanish Broadcasting System, Inc., filed with the Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing a
net loss of $11.3 million on $31.6 million of net revenue for the
three months ended March 31, 2016, compared to a net loss of $8.61
million on $32.1 million of net revenue for the same period in
2015.

As of March 31, 2016, Spanish Broadcasting had $452 million in
total assets, $561 million in total liabilities, and a total
stockholders' deficit of $109 million.

"During the first quarter, we continued to execute against our
strategic plan including expanding our multi-platform audience and
reach while also further strengthening our mobile capabilities,"
commented Raul Alarcon, Chairman and CEO.  "Our radio stations are
well positioned across the nation's top-ten media markets and we
continue to benefit from our industry leading content offerings.
Looking ahead, we remain focused on leveraging our strong audience
shares and expanded digital capabilities to connect advertisers
with the rapidly expanding Latino population across all media
platforms."

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

                      https://is.gd/zfOlXc

                   About Spanish Broadcasting

Headquartered in Coconut Grove, Florida, Spanish Broadcasting
System, Inc. -- http://www.spanishbroadcasting.com/-- owns and
operates 21 radio stations targeting the Hispanic audience.  The
Company also owns and operates Mega TV, a television operation
with over-the-air, cable and satellite distribution and affiliates
throughout the U.S. and Puerto Rico.  Its revenue for the twelve
months ended Sept. 30, 2010, was approximately $140 million.

                           *     *     *

In November 2010, Moody's Investors Service upgraded the corporate
family and probability of default ratings for Spanish Broadcasting
System, Inc., to 'Caa1' from 'Caa3' based on improved free cash
flow prospects due to better than anticipated cost cutting and the
expiration of an unprofitable interest rate swap agreement.
Moody's said Spanish Broadcasting's 'Caa1' corporate family rating
incorporates its weak capital structure, operational pressure in
the still cyclically weak economic climate, generally narrow
growth prospects (though Spanish language is the strongest growth
prospect) given the maturity and competitive pressures in the
radio industry, and the June 2012 maturity of its term loan
magnify this challenge.

In July 2010, Standard & Poor's Ratings Services raised its
corporate credit rating on Miami, Fla.-based Spanish Broadcasting
System Inc. to 'B-' from 'CCC+', based on continued improvement in
the company's liquidity position.  The rating outlook is stable.
"The rating action reflects S&P's expectation that, despite very
high leverage, SBS will have adequate liquidity over the
intermediate term to meet debt maturities, potential swap
settlements, and operating needs until its term loan matures on
June 11, 2012," said Standard & Poor's credit analyst Michael
Altberg.


SPORTS AUTHORITY: Liquidators Trio Wins Bankruptcy Auction
----------------------------------------------------------
Bloomberg Brief reported that Sports Authority's hopes of avoiding
liquidation faded after Modell's backed
away from a potential deal that would have kept some of the
debtor's stores operating.

Lillian Rizzo, writing for The Wall Street Journal, reported that a
consortium of liquidators that includes Tiger Capital Group, Hilco
Global and Gordon Brothers prevailed in an auction for Sports
Authority Holdings Inc.'s assets, according to people familiar with
the matter.

The Journal, citing two people familiar with the auction, related
that the winning bidders topped a rival offer from a second group
of liquidators that included Yellen Partners, SB Capital Group and
360 Merchant Solutions.  Great American Group, originally a part of
this group of liquidators, dropped out of the consortium before the
bidding began, the report said, citing the two people.

The winning group agreed to pay 101% of the cost of the retailer's
inventory, plus a $1.8 million augment guarantee, a person close to
the situation said, the report related.

Other offers ahead of the auction came from competitors Modell's
Inc. and Dick's Sporting Goods Inc., each for small batches of
stores, the people said, the report further related.  An auction
for the retailer's store leases will be held at a later date that
has yet to be set, the people said, the report added.

                  About Sports Authority Holdings

Sports Authority Holdings, et al., are sporting goods retailers
with roots dating back to 1928.  The Debtors currently operate 464
stores and five distribution centers across 40 U.S. states and
Puerto Rico.  The Debtors offer a broad selection of goods from a
wide array of household and specialty brands, including Adidas,
Asics, Brooks, Columbia, FitBit, Hanesbrands, Icon Health and
Fitness, Nike, The North Face, and Under Armour, in addition to
their own private label brands.  The Debtors employ 13,000 people.

Sports Authority and six of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. D. Del. Case Nos. 16-10527 to
16-10533) on March 2, 2016.  The petitions were signed by Michael
E. Foss as chairman & chief executive officer.

The Debtors have engaged Gibson, Dunn & Crutcher LLP as general
counsel, Young Conaway Stargatt & Taylor, LLP as co-counsel,
Rothschild Inc. as investment banker, FTI Consulting, Inc., as
financial advisor and Kurtzman Carson Consultants LLC as notice,
claims, solicitation, balloting and tabulation agent.

The U.S. trustee for Region 3 appointed seven creditors of Sports
Authority Holdings Inc. to serve on the official committee of
unsecured creditors.  Lawyers at Pachulski Stang Ziehl & Jones LLP
represent the Official Committee of Unsecured Creditors.


SPORTS AUTHORITY: Name Said to Go Unsold at Bankruptcy Auction
--------------------------------------------------------------
Steven Church, writing for Bloomberg News, reported that Sports
Authority Inc.'s name, and the right to keep it on the home stadium
of the Super Bowl champion Denver Broncos, went unsold at a
bankruptcy auction, according to three people familiar with the
bidding results.

Instead, three liquidators bought the rights to run
going-out-of-business sales at the insolvent chain's stores, which
will raise enough money to pay two top lenders, the report said,
citing two of the people, who asked for anonymity because the
auction results aren't public yet.  It's unlikely the company will
raise enough money to repay the approximately $646 million it owes
lower-ranking creditors, the report related.

According to the report, the company's name and all of its other
intellectual property may be taken over by lenders who won't be
cashed out by the inventory liquidation.  Those lenders, owed $277
million, include Blackstone Group's GSO Capital Partners,
Wellington Management and Columbia Management Investment Advisers,
the report noted, citing court records filed in March.  Those
lenders claim to have collateral rights over the intellectual
property that would allow them to take control of the company name,
including naming rights to Sports Authority Field in Denver, near
the company's home office, the report further related.

                  About Sports Authority Holdings

Sports Authority Holdings, et al., are sporting goods retailers
with roots dating back to 1928.  The Debtors currently operate 464
stores and five distribution centers across 40 U.S. states and
Puerto Rico.  The Debtors offer a broad selection of goods from a
wide array of household and specialty brands, including Adidas,
Asics, Brooks, Columbia, FitBit, Hanesbrands, Icon Health and
Fitness, Nike, The North Face, and Under Armour, in addition to
their own private label brands.  The Debtors employ 13,000 people.

Sports Authority and six of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. D. Del. Case Nos. 16-10527 to
16-10533) on March 2, 2016.  The petitions were signed by Michael
E. Foss as chairman & chief executive officer.

The Debtors have engaged Gibson, Dunn & Crutcher LLP as general
counsel, Young Conaway Stargatt & Taylor, LLP as co-counsel,
Rothschild Inc. as investment banker, FTI Consulting, Inc., as
financial advisor and Kurtzman Carson Consultants LLC as notice,
claims, solicitation, balloting and tabulation agent.

Andrew Vara, Acting U.S. trustee for Region 3, appointed seven
creditors of Sports Authority Holdings Inc. to serve on the
official committee of unsecured creditors.  Lawyers at Pachulski
Stang Ziehl & Jones LLP represent the Official Committee of
Unsecured Creditors.




STONE ENERGY: Expects to Get Noncompliance Notice from NYSE
-----------------------------------------------------------
Stone Energy Corporation disclosed in a regulatory filing with the
Securities and Exchange Commission that it expects to receive
formal notice from the New York Stock Exchange that it is not in
compliance with the NYSE continued listing standards.  Section
8.02.01B of the NYSE continued listing standards states that a
company will be considered to be below compliance if its average
global market capitalization over a consecutive 30 trading-day
period is less than $50 million, and at the same time stockholders'
equity is less than $50 million.  The Company is considered below
these criteria because its average global market capitalization has
been less than $50 million over a consecutive 30 trading-day period
and because its stockholders' equity was below $50 million.

As previously disclosed, the proxy statement for the Company's 2016
Annual Meeting of Stockholders to be held on Thursday,
May 19, 2016, includes a proposal that, if approved by stockholders
at the meeting, would permit the board of directors to implement a
reverse stock split of the Company's common stock as a means to
address such non-compliance with the NYSE's minimum stock price
requirement, if the board of directors were subsequently to
determine to proceed with the reverse stock split. However, the
approval of Proposal 7 would not cure the average global market
capitalization non-compliance.

In accordance with applicable NYSE procedures, upon receipt of
formal notice, the Company will have 10 business days from receipt
of formal notice to submit a letter to the NYSE confirming whether
it will submit a plan that demonstrates its ability to regain
compliance within 18 months.  Upon submission of such a letter, the
Company would then submit a plan within 45 days of the receipt of
formal notice.  Upon receipt of the plan, the NYSE would have 45
calendar days to review and determine whether the Company has made
reasonable demonstration of its ability to come into conformity
with the relevant standards within the 18-month period.  The NYSE
will either accept the plan, at which time the Company would be
subject to ongoing monitoring for compliance with the plan, or the
NYSE will not accept the plan and the Company would be subject to
suspension and delisting proceedings.  During the 18-month cure
period, Company shares would continue to be listed and traded on
the NYSE, subject to its continued compliance with other NYSE
continued listing standards.  The Company can provide no assurances
that it will be able to satisfy any of the steps outlined above and
maintain a listing of its shares.

                      About Stone Energy

Stone Energy is an independent oil and natural gas company engaged
in the acquisition, exploration, exploitation, development and
operation of oil and gas properties.  The Company has been
operating in the Gulf of Mexico Basin since its incorporation in
1993 and have established a technical and operational expertise in
this area.  The Company has leveraged its experience in the GOM
conventional shelf and expanded its reserve base into the more
prolific basins of the GOM deep water, Gulf Coast deep gas and the
Marcellus and Utica shales in Appalachia.  As of Dec. 31, 2015, the
Company's estimated proved oil and natural gas reserves were
approximately 57 MMBoe or 342 Bcfe.  During 2015, approximately 95
MMBoe or 570 Bcfe of the Company's estimated proved reserves were
revised downward as a result of lower oil, natural gas and natural
gas liquids prices.

Stone Energy reported a net loss of $1.1 billion in 2015 following
a net loss of $189.54 million in 2014.  As of Dec. 31, 2015, the
Company had $1.41 billion in total assets, $1.44 billion in total
liabilities, and a $39.8 million total stockholders' deficit.

                         *   *    *

In March 2016, Standard & Poor's lowered its corporate credit
rating on U.S.-based oil and gas exploration and production company
Stone Energy to 'CCC-' from 'CCC+'.

Stone Energy carries a 'B3' Corporate Family Rating from Moody's
Investors Service.


STONE ENERGY: Mulls Possible Prearranged Bankruptcy Filing
----------------------------------------------------------
Stone Energy Corporation disclosed in a Form 8-K report filed with
the Securities and Exchange Commission that it is in the process of
analyzing various alternatives to address its liquidity and capital
structure, including strategic and refinancing alternatives through
a private restructuring, asset sales and a prepackaged or
prearranged bankruptcy filing.  The Company's senior notes consist
of $300 million of Senior Convertible Notes due in 2017 and $775
million of Senior Notes due in 2022.  

The Company said it is currently engaged in negotiations with
certain holders of the Senior Notes and their financial advisors
regarding the restructuring of the Senior Notes, and has an
interest payment obligation under the 2022 Notes of approximately
$29 million, due on May 16, 2016.  The indenture governing the 2022
Notes provides a 30-day grace period that extends the latest date
for making this interest payment to June 14, 2016, before an Event
of Default occurs under the indenture.  Although the Company has
sufficient liquidity to make the interest payment by the due date,
the Company has elected to not make this interest payment on the
due date and plans to utilize the 30-day grace period provided by
the indenture, to allow the Company additional time to assess its
restructuring alternatives.  If the Company does not make its
interest payment by June 14, 2016, an Event of Default would occur
under the indenture governing the 2022 Notes, which would give the
trustee or the holders of at least 25% of principal amount of the
2022 Notes the option to accelerate maturity of the principal, plus
any accrued and unpaid interest, on the 2022 Notes.  An Event of
Default under the 2022 Notes may result in defaults and
acceleration of maturities under the Company's other debt
instruments.  The Company expects operations to continue as normal
while these discussions are ongoing.

                        About Stone Energy

Stone Energy is an independent oil and natural gas company engaged
in the acquisition, exploration, exploitation, development and
operation of oil and gas properties.  The Company has been
operating in the Gulf of Mexico Basin since its incorporation in
1993 and have established a technical and operational expertise in
this area.  The Company has leveraged its experience in the GOM
conventional shelf and expanded its reserve base into the more
prolific basins of the GOM deep water, Gulf Coast deep gas and the
Marcellus and Utica shales in Appalachia.  As of Dec. 31, 2015, the
Company's estimated proved oil and natural gas reserves were
approximately 57 MMBoe or 342 Bcfe.  During 2015, approximately 95
MMBoe or 570 Bcfe of the Company's estimated proved reserves were
revised downward as a result of lower oil, natural gas and natural
gas liquids prices.

Stone Energy reported a net loss of $1.1 billion in 2015 following
a net loss of $189.54 million in 2014.  As of Dec. 31, 2015, the
Company had $1.41 billion in total assets, $1.44 billion in total
liabilities, and a $39.8 million total stockholders' deficit.

                         *   *    *

In March 2016, Standard & Poor's lowered its corporate credit
rating on U.S.-based oil and gas exploration and production company
Stone Energy to 'CCC-' from 'CCC+'.

Stone Energy carries a 'B3' Corporate Family Rating from Moody's
Investors Service.


STONE ENERGY: Says Bankruptcy Filing a Possibility
--------------------------------------------------
Stephanie Gleason, writing for The Wall Street Journal, reported
that Stone Energy Corp. is working to negotiate a restructuring
deal that could include a prepackaged bankruptcy, the company said
after skipping a payment to bondholders.

According to the report, the Lafayette, La., oil-and-gas company
said that it wouldn't make a $29 million interest payment due to
senior bondholders with $775 million in bonds maturing in 2022.
Rather, the company is entering a 30-day grace period under its
bond agreement and plans to use the time to negotiate a
bondholder-supported plan that may include a bankruptcy filing, the
report related.

"The company is in the process of analyzing various alternatives to
address its liquidity and capital structure, including strategic
and refinancing alternatives through a private restructuring, asset
sales and a prepackaged or prearranged bankruptcy filing," Stone
said in a financial filing, the report further related.

The report noted that the company said that prices it realized
during the first quarter averaged $36.87 per barrel of oil, $13.01
per barrel of natural gas liquid and $2.22 per million cubic feet
of natural gas.  During the same period in 2015, when prices
already had begun to decline, Stone averaged $66.28 per barrel of
oil, $18.11 per barrel of natural gas liquids and $2.54 per million
cubic feet of natural gas, it said, the report added.

In March, the company hired Lazard as its financial adviser and
Latham & Watkins LLP as its legal adviser.

                        About Stone Energy

Stone Energy is an independent oil and natural gas company engaged
in the acquisition, exploration, exploitation, development and
operation of oil and gas properties.  The Company has been
operating in the Gulf of Mexico Basin since its incorporation in
1993 and have established a technical and operational expertise in
this area.  The Company has leveraged its experience in the GOM
conventional shelf and expanded its reserve base into the more
prolific basins of the GOM deep water, Gulf Coast deep gas and the
Marcellus and Utica shales in Appalachia.  As of Dec. 31, 2015,
the
Company's estimated proved oil and natural gas reserves were
approximately 57 MMBoe or 342 Bcfe.  During 2015, approximately 95
MMBoe or 570 Bcfe of the Company's estimated proved reserves were
revised downward as a result of lower oil, natural gas and natural
gas liquids prices.

Stone Energy reported a net loss of $1.1 billion in 2015 following
a net loss of $189.54 million in 2014.  As of Dec. 31, 2015, the
Company had $1.41 billion in total assets, $1.44 billion in total
liabilities, and a $39.8 million total stockholders' deficit.

                         *   *    *

In March 2016, Standard & Poor's lowered its corporate credit
rating on U.S.-based oil and gas exploration and production
company
Stone Energy to 'CCC-' from 'CCC+'.

Stone Energy carries a 'B3' Corporate Family Rating from Moody's
Investors Service.


TEXAS PELLETS: U.S. Trustee Forms 2-Member Committee
----------------------------------------------------
The Office of the U.S. Trustee on May 17 appointed two creditors of
Texas Pellets Inc. and German Pellets Texas LLC to serve on the
official committee of unsecured creditors.

The committee members are:

     (1) Ms. Paula Williams- Interim Chairman
         J.A.M. Distributing Company
         7010 Mykawa Rd
         Houston, TX 77033
         (713) 336-1515
         pwilliams@jamdistributing.com

     (2) John Wade Womack
         Jasper Oil Company
         P.O. Box 2290
         719 Highway 63W
         Jasper, TX 75951
         (409) 383-0555
         wwomack@jasperoilcompany.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.

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.


TIBCO SOFTWARE: Bank Debt Trades at 10% Off
-------------------------------------------
Participations in a syndicated loan under which TIBCO Software is a
borrower traded in the secondary market at 89.58
cents-on-the-dollar during the week ended Friday, May 13, 2016,
according to data compiled by LSTA/Thomson Reuters MTM Pricing.
This represents a decrease of 0.25 percentage points from the
previous week.  TIBCO Software pays 550 basis points above LIBOR to
borrow under the $1.65 billion facility. The bank loan matures on
Nov. 18, 2020 and carries Moody's B1 rating and Standard & Poor's
/B- rating.  The loan is one of the biggest gainers and losers
among 247 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended May 13.


TRANSPORTATION SPECIALIST: US 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 Transportation Specialist Group, Inc.  

Transportation Specialist Group, Inc. sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Case No.
16-13048) on March 2, 2016.  The Debtor is represented by Stan
Riskin, Esq., at Advantage Law Group, PA.


TRIANGLE PETROLEUM: Unit Provides Restructuring Initiatives Update
------------------------------------------------------------------
RockPile Energy Services, LLC, a subsidiary of Triangle Petroleum
Corporation, provided an update on the Company's ongoing strategic
review process.

Key Highlights:

  * RockPile has retained PJT Partners in order to help evaluate
    strategic alternatives that would strengthen the Company's
    balance sheet and allow it to independently execute on its
    business strategy and operational plans

  * The Company has appointed Thomas J. Allison as an independent
    director

After conducting an extensive evaluation, Triangle and RockPile
have mutually agreed to pursue strategic alternatives that would
allow both companies to separately and independently execute on
their business strategies and operational plans.  Curt Dacar, CEO
of RockPile, remarked, "We are excited about the path forward to
becoming an independent, stand-alone entity and are confident this
will allow us to continue delivering best-in-class performance to
our clients.  We are grateful to the Triangle team for their
support in helping to grow RockPile from the beginning.  We are
fortunate to have such great partners and appreciate their
assistance as we contemplate the next steps in RockPile's future.
To our valued clients, rest assured that we remain committed to
maintaining our high level of customer care and will remain focused
on providing safe, cost effective and best-in-class services."

To help guide the Company through this process, RockPile has
retained PJT Partners, a premier advisory-focused investment bank
with extensive experience in the oil and gas industry, as its
financial advisor.  RockPile and its advisors remain in
constructive discussions with the Company's bank syndicate and have
also initiated dialogue with various potential strategic partners.
The pursuit of any strategic alternatives would be designed to
enhance the Company's balance sheet and support continued growth of
the Company's completion services platform within new and existing
operating regions.

Thomas J. Allison, an experienced financial professional and board
member, has been appointed as an independent director for the
Company.  From 2006 until his retirement in 2012, Mr. Allison
served as Executive Vice President and Senior Managing Director of
Mesirow Financial Consulting, LLC, a full-service financial and
operational advisory consulting firm headquartered in Chicago, and
he possesses a wealth of experience in advisory, corporate finance,
and board level roles . Curt Dacar commented, "We are excited to
welcome Tom to the RockPile Family.  We believe his impressive
experience will provide important perspective as we evaluate the
strategic alternatives available to RockPile."

                       About RockPile

RockPile Energy Services, LLC is a provider of hydraulic pressure
pumping and complementary services to oil and natural gas
exploration and production companies operating primarily in the
Williston and Permian Basins.  RockPile provides a variety of
oilfield services including, but not limited to, pressure pumping,
wireline, perforating, pump rental, and workover services.

                  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.


TRONOX INC: Bank Debt Trades at 6% Off
--------------------------------------
Participations in a syndicated loan under which Tronox Inc is a
borrower traded in the secondary market at 95.83
cents-on-the-dollar during the week ended Friday, May 13, 2016,
according to data compiled by LSTA/Thomson Reuters MTM Pricing.
This represents a decrease of 0.75 percentage points from the
previous week.  Tronox Inc pays 300 basis points above LIBOR to
borrow under the $1.5 billion facility. The bank loan matures on
March 15, 2020 and carries Moody's B1 rating and Standard & Poor's
BB rating.  The loan is one of the biggest gainers and losers among
247 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended May 13.


UCI INTERNATIONAL: Moody's Withdraws 'C' Corporate Family Rating
----------------------------------------------------------------
Moody's Investors Service has withdrawn all credit ratings of UCI
International, LLC following UCI Holdings Limited's (UCI's ultimate
parent holding company) notice to terminate the U.S. Securities and
Exchange Commission (SEC) registration of the UCI's 8.625% senior
note and reporting obligations.

These ratings and rating outlook were withdrawn:

UCI International, LLC

  C, Corporate Family Rating;
  D-PD, Probability of Default Rating;
  C (LGD6), rating for the $400mm senior global notes due 2019;
  Stable rating outlook

                        RATINGS RATIONALE

On April 29, 2016, UCI Holdings Limited (UCI's ultimate parent
holding company) issued a notice of termination of registration and
suspensions of duty to file reports with the SEC.  As such, Moody's
believes it will no longer receive sufficient financial and
otherwise adequate information to monitor the ratings and has
withdrawn the ratings.

UCI International LLC. headquartered in Lake Forest, Illinois, is a
leading supplier to the light and heavy-duty vehicle aftermarket
for replacement parts, supplying a broad range of filtration, fuel
delivery systems, and cooling systems products.  The company
manufactures under its own proprietary brands such as Airtex, ASC
and Champion, and under other private labels and licensing
arrangements.  Revenues for the LTM period ending Sept. 30, 2015,
were approximately $1 billion.  UCI is a wholly owned subsidiary of
UCI Holdings Limited which is owned by an affiliate of Rank Group
Limited.


US CONCRETE: Moody's Assigns B3 Rating on $350MM Sr. Notes
----------------------------------------------------------
Moody's Investors Service assigned a B3 senior unsecured rating to
U.S. Concrete, Inc.'s proposed $350 million senior unsecured notes
due 2024.  The proceeds will be used to repay its senior secured
notes due 2018, to repay drawings on its ABL revolver, fund
opportunistic acquisitions and for general corporate purposes.  At
the same time, Moody's affirmed U.S. Concrete's Corporate Family
Rating at B2 and the Probability of Default Rating at B2-PD.  The
senior secured notes due 2018 were also affirmed at B3, but will be
withdrawn upon the closing of the Notes.  The Speculative Grade
Liquidity rating was affirmed at SGL-2.  The rating outlook was
revised to positive from stable.

This rating was assigned:

U.S. Concrete, Inc.

  $350 million senior unsecured notes due 2024, assigned at B3,
   LGD4.

These actions were taken:

  Corporate Family Rating, affirmed B2;
  Probability of Default Rating, affirmed B2-PD;
  $200 million senior secured notes due 2018, affirmed at B3,
   LGD4;
  Speculative grade liquidity rating, affirmed at SGL-2;
  The rating outlook was revised to positive from stable.

                            RATINGS RATIONALE

The positive outlook reflects Moody's expectation that key credit
metrics, including USCR's operating margin and earnings, will
continue to improve as prices, sales volume and private
construction market activity expand.  The positive outlook also
assumes U.S. Concrete will deploy excess proceeds from the 2024
Notes offering into accretive acquisitions.  For the trailing
twelve months ended March 31, 2016, adjusted operating margin
improved to 8.5% from 7.1% at year-end 2014.  At the same time,
adjusted debt-to-EBITDA declined to 2.8x from 3.6x.  Pro forma for
the $350 million senior notes offering, adjusted debt-to-EBITDA was
approximately 3.3x.  The company's leading position within its
served regions, long-standing relationships along with the positive
momentum in the building materials industry reinforces our positive
view.  The positive outlook also reflects our expectation U.S.
Concrete will be able to profitably invest excess debt proceeds
into new acquisitions.  Moody's expects the company to maintain
adjusted debt-to-EBITDA below 3.5x even as the company executes its
growth strategy.

The B2 Corporate Family Rating reflects the company's exposure to
volatile construction end-markets and acquisitive nature.  The
rating also reflects the company's limited product diversity, where
the ready-mixed concrete segment represents approximately 90% of
revenue, as well as regional concentrations where Texas, northern
California, and New York/New Jersey account for approximately 40%,
29% and 26% of revenue, respectively.  In 2015, USCR closed eight
acquisitions, strengthening its position in existing markets and
expanding into the U.S. Virgin Islands. During the 1st quarter
2016, the company acquired two ready-mixed concrete operations in
the New York metro area and northern Texas. The acquisitions should
improve the company's bargaining power with suppliers and provide
better margins from synergies.  The rating also incorporates the
competitive nature of the building materials industry, exposure to
input cost inflation and the high fragmentation of the industry.

U.S. Concrete's ratings could be upgraded if revenues continue to
grow beyond $1 billion and adjusted operating margin improves
closer to 10%.  Other key factors that would support an upgrade
include strong liquidity, adjusted EBIT-to-interest well above 2.0x
and adjusted debt-to-EBITDA below 3.5x while the private
construction end markets remain at a minimum stable.  Moody's would
consider an upgrade after it evaluates the company's use of excess
debt proceeds raised in the 2024 Notes offering.

Alternatively, Moody's stated that ratings could be downgraded
should adjusted operating margins to decline below 4%, adjusted
EBIT-to-interest to fall below 1.5x, or adjusted debt-to-EBITDA
exceed 5.0x.  This could result from decreased construction
spending, economic weakness or an aggressive acquisition strategy.
Ratings could also be downgraded if liquidity deteriorates.

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

U.S. Concrete Inc. [NASDAQ: USCR], headquartered in Euless Texas,
operates with two primary segments: ready-mixed concrete and
aggregate products.  The company is one of the leading producers of
ready-mixed concrete in north and west Texas, northern California,
New Jersey, New York, Washington DC, Oklahoma and, recently, the
U.S. Virgin Islands.  The company has 147 standard ready-mixed
concrete plants, 16 volumetric ready-mixed concrete facilities, and
14 producing aggregates facilities.  For the trailing twelve months
ended March 31, 2016, the company generated approximately $1
billion in revenue.


US FARATHANE: Moody's Retains B2 CFR on $80MM Loan Add-On
---------------------------------------------------------
Moody's Investors Service says that US Farathane, LLC's (USF) $80
million add-on to an existing $500 million term loan due in Dec.
23, 2021, is credit negative because it increases debt and
leverage.  The transaction nevertheless does not impact the
company's ratings including its B2 Corporate Family Rating or
stable rating outlook because debt-to-EBITDA leverage remains
within the range expected for the B2 CFR and free cash flow is
good.

This add-on will increase USFs existing term loan to $580 million.
Pro forma for the transaction, USF's debt-to-EBITDA leverage will
increase to 3.7x (compared to 3.5x LTM 3/31/2016 incorporating
Moody's standard adjustments).  Given that the credit metrics do
not change materially as a result of this transaction, the
company's ratings are unaffected.

This will be a second dividend payout in 2016 (for the combined
amount of $120 million).  The first $40 million dividend was
completed in February 2016 and was financed through a combination
of cash from operations and a partial draw on the revolver.  As of
March 31, 2016, the revolving facility balance was $26.8 million.
The second $80 million dividend will be fully financed with debt.
This strategy is aggressive as it reduces cash available for
reinvestment, adds to the company's debt burden without increasing
earnings, and represents a departure from Moody's expectations that
the company will not undertake sizeable distributions to the
sponsor.

Moody's maintains these ratings on US Farathane, LLC:

  Corporate Family Rating, B2

  Probability of Default Rating, B2-PD

  Senior Secured First Lien Term Loan, B2 (LGD4) (upsized to $580
   million from $500 million)

Rating Outlook is Stable

                          RATINGS RATIONALE

USF's B2 CFR incorporates its good revenue growth, tempered by the
company's small scale, significant customer concentration and
exposure to cyclical auto sales.  USF generates roughly 90% of its
revenue from General Motors, Ford and Chrysler.  This degree of
customer concentration is a credit risk as production cutbacks,
platform losses, or pricing pressure would have a disproportionate
impact on USF's revenues and earnings.  USF's design and
development of highly customized solutions is driving new platform
wins and increasing market share, although Moody's believes that
the company's expansion will taper.  Debt-to-EBITDA leverage is
high for a company in this industry.

The stable rating outlook incorporates Moody's expectation that USF
will generate positive free cash flow while growing modestly and
maintaining solid relationships with its OEM clients.  Moody's also
anticipates debt-to-EBITDA leverage will decline to approximately
3.5x in the next twelve months through earnings growth and term
loan repayments.

A higher rating is unlikely given the company's modest scale and
high customer concentration.  However, Moody's would consider an
upgrade if USF continues to profitably increase its scale, improves
customer and platform diversity, sustains and grow free cash flow
and reduces debt-to-EBITDA leverage.

Moody's would downgrade the rating should USF's free cash flow
weaken, liquidity deteriorate, or debt-to- EBITDA leverage increase
above 5x due to operating weakness, debt financed acquisition or
payments to equity owners occur.  Customer or platform losses,
production cuts, or pricing pressure would also put downward
pressure on the rating.

Moody's now assesses USF's liquidity as adequate given the
company's usage of cash flow from operations to partially fund
dividends and increased revolver utilization.  The $10 million of
projected free cash flow over the next 12 months will provide
adequate coverage of the $29 million required term loan
amortization in the next 12 months.  USF also maintains an $80
million asset-based revolving facility that expires in February
2019.  As of March 2016, the revolving facility had approximately
$27 million outstanding as a part of it was used to fund the
dividend payout in February 2016.  Moody's expects that USF will
remain comfortably above minimum availability thresholds in the
revolver ($8 million, inclusive of qualified cash) to avoid
triggering the minimum 1.0x fixed charge coverage ratio maintenance
covenant.  If the covenant applies, Moody's expects USF to have a
good EBITDA cushion to be incompliance with the covenant.

The principal methodology used in these ratings was Global
Automotive Supplier Industry published in May 2013.

US Farathane, LLC (USF), headquartered in Auburn Hills, Michigan,
is a manufacturer and supplier of functional black plastic, and
interior and exterior plastic components to North American
automotive Original Equipment Manufacturers (OEMs).  The company
operates 16 manufacturing facilities in the United States, Mexico
and China.  USF's customers include Chrysler, Ford, General Motors
and, to a much lesser degree, several other large global OEMs and
Tier 1 suppliers.  In January 2016, USF closed debt-funded
acquisitions of Tepso Plastics and Boston Plastics.  Pro-forma for
the transactions, USF's revenue for the LTM March 2016 were
approximately $720 million.


VALEANT PHARMACEUTICALS: Bank Debt Trades at 3% Off
---------------------------------------------------
Participations in a syndicated loan under which Valeant
Pharmaceuticals is a borrower traded in the secondary market at
97.10 cents-on-the-dollar during the week ended Friday, May 13,
2016, according to data compiled by LSTA/Thomson Reuters MTM
Pricing.  This represents a decrease of 0.25 percentage points from
the previous week.  Valeant Pharmaceuticals pays 425 basis points
above LIBOR to borrow under the $2.35 billion facility. The bank
loan matures on April 9, 2022 and carries Moody's Ba2 rating and
Standard & Poor's BB- rating.  The loan is one of the biggest
gainers and losers among 247 widely quoted syndicated loans with
five or more bids in secondary trading for the week ended May 13.


VALEANT PHARMACEUTICALS: Inks Retention Agreements with Executives
------------------------------------------------------------------
Valeant Pharmaceuticals North America, LLC, a subsidiary of Valeant
Pharmaceuticals International, Inc., has entered into retention
letter agreements with certain members of its executive management
team, including Mr. Robert L. Rosiello, Dr. Ari S. Kellen and Ms.
Anne C. Whitaker.  The retention letter agreements provide for the
following:

Special Retention Award

Each executive will be eligible to receive a special retention cash
bonus in an amount equal to $1 million, payable in three
installments.  The first 33% will be payable on June 30, 2016, the
second 33% will be payable on September 30, 2016 and the final 34%
will be payable on Dec. 30, 2016.  In order to receive an
installment of the special retention award, the executive must be
employed by the Company on the applicable payment date.  In the
event the Company terminates the executive's employment other than
for "cause" or the executive resigns with "good reason" prior to
the payment of the full balance of the special retention award, any
unpaid portion of the special retention award will vest in full and
be paid to the executive as soon as administratively practicable,
subject to the executive delivering a general release of claims in
a form reasonably acceptable to the Company.

The term "good reason" generally means (1) any material reduction
in the executive's current duties, responsibilities, or authority,
(2) a requirement that the executive report to someone in a role
with less authority than the person to whom the executive reports
to currently, (3) any reduction in annual base salary or target
bonus opportunity; or (4) any breach by the Company of any material
provision of the retention letter or any employment agreement with
the executive.  In the event that the executive resigns for good
reason pursuant to clause (1) or (2) above prior to Dec. 31, 2016,
the executive's entitlement to payments and benefits under the
retention letter agreement will be conditioned on, if requested by
the Company, the executive remaining employed and performing duties
for the Company until Dec. 31, 2016.

Special Equity Award

On May 12, 2016, each executive received an equity award in the
form of Restricted Stock Units (RSUs) in an amount set forth in the
table below.  The RSUs will vest in three equal installments with
the first installment vesting six months following the date of
grant, the second installment vesting twelve months following the
date of grant and the third installment vesting eighteen months
following the date of grant, provided that the executive is
employed on the applicable vesting date.  If the Company terminates
the executive's employment other than for cause or the executive
resigns with good reason prior to the RSU award vesting in full,
the RSU award will vest on a pro-rata monthly basis with a minimum
vesting credit of 6 months, subject to the executive delivering a
general release of claims in a form reasonably acceptable to the
Company.

         Executive               Special Equity Award
         ---------               --------------------
         Robert L. Rosiello          $2.8 million
         Dr. Ari S. Kellen           $3.8 million
         Anne C. Whitaker            $1.25 million

Enhanced Severance Benefits

Each executive will be entitled to receive enhanced severance
benefits pursuant to the terms of the executive's employment letter
with the Company if the executive is terminated without cause or
the executive provides written notice of resignation for good
reason within one year from the date of the retention letter
agreement.  The executive's severance will be increased from one
(1) times to two (2) times the sum of (i) the executive's annual
base salary and (ii) the executive’s target annual bonus.  In
addition, the executive's continued post-termination welfare
coverage period will be increased from a period of one year to a
period of two years following the date of termination of
employment.

                         About Valeant

Valeant Pharmaceuticals International, Inc. (NYSE/TSX:VRX) --
http://www.valeant.com/-- is a multinational specialty
pharmaceutical company that develops, manufactures and markets a
broad range of pharmaceutical products primarily in the areas of
dermatology, gastrointestinal disorder, eye health, neurology and
branded generics.

Valeant reported a net loss attributable to the Company of $291.7
million on $10.44 billion of revenues for the year ended Dec. 31,
2015, compared to net income attributable to the Company of $880.7
million on $8.20 billion of revenues for the year ended Dec. 31,
2014.  As of Dec. 31, 2015, Valeant had $48.96 billion in total
assets, $42.93 billion in total liabilities and $6.02 billion in
total equity.

                             *    *     *

Valeant carries a B2 Corporate Family Rating from Moody's
Investors Service.

As reported by the TCR on April 19, 2016, Standard & Poor's
Ratings Services said that it has lowered its corporate credit
ratings on Valeant Pharmaceuticals International Inc. to 'B' from
'B+' and placed both the corporate credit rating and the
issue-level ratings on CreditWatch with developing implications.


VEREIT OPERATING: Moody's Assigns Ba1 Rating on Sr. Unsec. Notes
----------------------------------------------------------------
Moody's Investors Service has assigned a Ba1 rating to the senior
unsecured note issuance of VEREIT Operating Partnership, L.P., the
operating subsidiary of VEREIT, Inc. (VER).  The outlook is stable.
This issuance will refinance existing debt.

These ratings were assigned with a stable outlook:

  VEREIT Operating Partnership, L.P.- Senior unsecured shelf at
   (P)Ba1; senior unsecured debt at Ba1.

  VEREIT, Inc.- Senior unsecured shelf at (P)Ba1; preferred stock
   shelf at (P)Ba2

                        RATINGS RATIONALE

VEREIT's Ba1 rating reflects the REIT's ability to maintain solid
liquidity and continue to grow its unencumbered asset base.
VEREIT's $3.3 billion credit facility, which has an accordion
feature up to $4.7 billion, had approximately $2.0 billion (88%) of
available capacity, as of March 31, 2016.  The facility expires in
2018 with a one-year extension option to 2019.  VEREIT grew its
unencumbered asset ratio to approximately 67% of gross assets
(excluding goodwill) at 1Q16, from 63% at YE14.  VEREIT's effective
leverage (debt + preferred/gross assets less goodwill) is
considered high at 47% of gross assets at 1Q16, although reduced
from 54% at YE14.  Net debt/EBITDA was 6.5x at 1Q16, down from 8.5x
at YE14.  The REIT has been a net seller of assets since 2015,
applying sales proceeds to reduce debt.  Secured debt has improved
to 16% of gross assets at 1Q16 from 18% at YE14.  Fixed charge
coverage has strengthened to 3x at 1Q16 from 2.1x at YE14.

The stable outlook reflects Moody's expectation that VEREIT will
continue to improve its governance and financial profile with key
metrics such as fixed charge, secured debt and Net debt/EBITDA.

Upward rating movement would reflect the REIT operating on a
consistent basis with: Net debt/EBITDA closer to 6.5x; fixed charge
coverage at or above 2.5x; leverage below 45%; and secured debt
closer to 10%, in addition to improvement in liquidity through
capital market access and better staggering of debt maturities.  A
rating downgrade would likely reflect effective leverage above 50%;
Net debt/EBITDA over 7x; fixed charge coverage below 2.2x; and any
liquidity issues regarding debt maturities.

Moody's last rating action for VEREIT, Inc. and VEREIT Operating
Partnership, L.P. was on April 27, 2016, when Moody's affirmed
VEREIT's senior unsecured debt at Ba1 and revised the outlook to
stable from negative.

VEREIT, Inc. (NYSE: VER) is a REIT that is engaged in the ownership
and acquisition of single-tenant, free standing real estate
properties.  At March 31, 2016, VEREIT owned 4,378 properties in 49
states plus Puerto Rico, Washington, D.C. and Canada, totaling
approximately 99 million square feet and had total book assets of
$16.8 billion and total book equity of $8.4 billion.

The principal methodology used in these ratings was Global Rating
Methodology for REITs and Other Commercial Property Firms published
in July 2010.


VICTORY ENERGY: Incurs $499,000 Net Loss in First Quarter
---------------------------------------------------------
Victory Energy Corporation filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $499,000 on $65,993 of total revenues for the three months ended
March 31, 2016, compared to a net loss of $1.65 million on $129,000
of total revenues for the same period in 2015.

As of March 31, 2016, Victory Energy had $996,000 in total assets,
$3.89 million in total liabilities and a total stockholders'
deficit of $2.89 million.

At March 31, 2016, the Company had a working capital deficit of
$3.64 million compared to a working capital deficit of $3.45
million at Dec. 31, 2015.  Current liabilities increased to $3.84
million at March 31, 2016, from $3.64 million at Dec. 31, 2015,
primarily due to related party short term advances and fees
associated with the year end audit of the Company.

Net cash used in operating activities for the three months ended
March 31, 2016 was $257,000 after the net loss of $498,666 was
decreased by $82,720 in non-cash charges and offset by $159,000 in
changes to the other operating assets and liabilities.  This
compares to cash used in operating activities for the three months
ended March 31, 2015, of $1.60 million after the net loss for that
period of
$1.66 million was decreased by $190,885 in non-cash charges and
$136,000 in changes to other operating assets and liabilities.

Net cash used in investing activities for the three months ended
March 31, 2016, was $19,523, which was used for acquisitions,
leases, drilling, and related costs.  This compares to $147,562 all
of which was used for acquisitions, leases, drilling and related
costs.

"Given a full twelve months of depressed commodity prices, I remain
very proud of our team for achieving even modest growth in oil
production while recording a decrease in lease operating expenses,"
commented Kenny Hill, chief executive officer of Victory Energy.

"As the volume of oil and gas prospects available for acquisition
in the major basins continues to increase, our growth through
acquisitions strategy will remain the primary focus of the company.
We will continue to be patient while seeking the right combination
of attractive prospect valuation, proved producing reserves,
limited mandatory development risk and limited lease expiration
exposure.  Guidance from our capital markets relationships have
been very clear about access to investment capital when these value
components are present in a potential transaction.

"Our long-time Aurora partner, Navitus Energy Group (NEG) has
contributed $302,000 of investment capital this quarter for ongoing
operations support and we look forward to their continued support
as we get nearer a possible transaction.  Navitus continues to
raise capital via their $15 million private placement to help fund
operations and acquire targeted oil and gas opportunities," said
Mr. Hill.

Lease operating expenses increased $2,840 to $37,353 or 8% from
$34,513 for the three months ended March 31, 2016.  The increase is
primarily the result of operating activities associated with the
Eagle Ford properties acquired in March 2015.

General and administrative expenses decreased $1.2 million or 73%
to $444,161 for the three months ended March 31, 2016 from $1.6
million for the three months ended March 31, 2015.  The decrease is
primarily due to merger and merger termination costs that were
incurred in the prior year.

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

                      https://is.gd/wjDVn2

                     About Victory Energy

Austin, Texas-based Victory Energy Corporation is engaged in the
exploration, acquisition, development and exploitation of domestic
oil and gas properties.  Current operations are primarily located
onshore in Texas, New Mexico and Oklahoma.

Victory Energy reported a net loss of $4.90 million on $650,648 of
total revenues for the year ended Dec. 31, 2015, compared to a net
loss of $4.22 million on $695,318 of total revenues for the year
ended Dec. 31, 2014.

Weaver and Tidwell, L.L.P., in Houston, Texas, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2015, citing that the Company has
experienced recurring losses since its inception and has an
accumulated deficit.  These conditions raise substantial doubt
regarding the Company's ability to continue as a going concern.


WAFERGEN BIO-SYSTEMS: Inks Merger Agreement with Takara Bio
-----------------------------------------------------------
WaferGen Bio-systems, Inc., and Takara Bio USA Holdings, Inc.
announced that they have entered into a merger agreement pursuant
to which TBUSH will acquire WaferGen.  TBUSH is a wholly owned
subsidiary of Takara Bio Inc., a leading global biotechnology and
life science company.  Takara Bio USA, Inc. (formerly known as
Clontech Laboratories, Inc.) is a wholly owned subsidiary of TBUSH
and is a guarantor under the merger agreement.

Under the terms of the merger agreement, TBUSH will acquire
WaferGen for an aggregate cash purchase price that will be based on
a multiple of WaferGen's 2016 calendar revenue and capped at $50.0
million, subject to the potential adjustments described below.  The
multiple will range between 1.0 times up to 3.5 times WaferGen's
full year 2016 revenue.  If revenues exceed $9.0 million the
multiple will be 3.5.  The aggregate purchase price as so
determined will be used to pay for all outstanding securities of
WaferGen, including options and warrants and other securities as
well as outstanding shares.  The merger is expected to close after
completion of WaferGen's audited financial statements in February
or March of 2017, subject to the conditions set forth in the merger
agreement.

Highlights of the Merger

  * Adds ICELL8 Single-Cell System, Smart Chip PCR and Apollo 324
    platforms to TBUSA's global reagent product mix

  * Couples WaferGen's high throughput ICELL8 Single-Cell System,
    introduced in Q4 2015, with TBUSA's single-cell reagents,
    which will provide best in class solutions for single-cell
    researchers worldwide

  * Expands the access of WaferGen technology platforms to the
    global genomics market

"WaferGen's technologies and broad array of rapidly growing product
offerings are providing a powerful set of tools for biological
analysis at the molecular and single-cell level in the life
sciences, pharmaceutical, and clinical laboratory industries," said
Rollie Carlson, president and CEO of WaferGen. "I'm confident that
through this merger we will cement a leadership position in the
genomics research market and our combined solutions will accelerate
breakthrough scientific and medical discoveries worldwide."

"The combination of TBUSA's RNA-seq and T Cell Receptor (TCR)
profiling technologies with WaferGen's ICELL8 platform for
isolation and processing of single cells will significantly expand
our offering in the fast-growing single-cell and immuno-sequencing
markets, and give customers greater access to these products
through our global and commercial reach," said Carol Lou, President
of TBUSA.  "WaferGen's technologies are highly complementary to our
reagent portfolio and the combination presents new opportunities
for us in genetic analysis including clinical and applied
markets."

The WaferGen acquisition will allow Takara Bio to augment and
expand its worldwide commercial offerings in transcriptomics and
create new market opportunities in other areas of genomics.  Takara
Bio provides a wide range of life science products and services
under the Takara, Clontech, and Cellartis brands that assist
discovery, translational and clinical scientists in the advancement
of their work.

Key Transaction Terms

Pursuant to the merger agreement, at the effective time of the
merger, WaferGen's outstanding shares of Common Stock and Series 2
Convertible Preferred Stock will be converted into the right to
receive an amount in cash equal to the Aggregate Consideration
(determined pursuant to the merger agreement) divided by the
aggregate amount of shares of WaferGen Common Stock, calculated on
a fully diluted basis, taking into account the conversion or
exercise of Preferred Stock, stock options and warrants that are
"in the money," restricted stock units and any other shares of
Common Stock issuable pursuant to derivative securities of
WaferGen.

For purposes of determining the amount per share to be paid in
connection with the merger, an assumed amount, determined solely
for purposes of such calculation, will be determined pursuant to
the terms and subject to the conditions of the merger agreement,
summarized as follows:

  * First, an amount (the "Revenue Multiple Amount") based upon
    WaferGen's consolidated revenues for the year ending December
    31, 2016 (the "2016 Revenue") determined by multiplying the
    2016 Revenue by (i) 1.0, if the 2016 Revenue is less than $3.0
    million, (ii) 2.0, if the 2016 Revenue is equal to or greater
    than $3.0 million and less than $6.0 million, (iii) 2.5, if
    the 2016 Revenue is equal to or greater than $6.0 million and
    less than $9.0 million, or (iv) 3.5, if the 2016 Revenue is
    equal to or greater than $9.0 million.  The Revenue Multiple
    Amount is capped at $50.0 million.

  * Second, the Aggregate Consideration shall be reduced by any
    amounts paid to WaferGen under the Deposit Agreement
    (described below) that have not been returned to TBUSH.

  * Third, the Aggregate Consideration shall be reduced by an
    amount equal to (1) the increase, if any, in Indebtedness (as
    such term is defined in the merger agreement), plus (2) the
    increase, if any, in Certain Closing Related Costs (including
    amounts payable pursuant to severance, retirement, termination

    or change of control provisions) (as such term is defined in
    the merger agreement) plus (3) the increase, if any, in bonus
    payment obligations, in each case comparing the amount of such

    obligation at closing compared to the current amount of such
    obligations.

  * Fourth, the Aggregate Consideration shall be reduced by the
    aggregate amount of certain Transaction Fees (as such term is
    defined in the merger agreement) paid by Takara Bio on behalf
    of WaferGen.

  * Fifth, the Aggregate Consideration shall be reduced, if any to

    the extent applicable, by the aggregate amount of unpaid costs
    incurred in connection with any issuance by the Company of
    debt or equity securities after the date of the merger
    agreement.

To arrive at the amount per share to be paid in connection with the
merger, an amount equal to (i) the aggregate exercise price of all
"in the money" stock options plus (ii) the difference between the
aggregate maximum exercise price of all "in the money" warrants and
the aggregate amount potentially payable in respect of certain
"BSV" warrants will be added to the Aggregate Consideration.  That
sum will then be divided by the aggregate amount of shares of
Common Stock, calculated on a fully diluted basis, taking into
account the conversion or exercise of Preferred Stock, stock
options and warrants that are "in the money," RSUs and any other
shares of Common Stock issuable pursuant to any other outstanding
derivative securities of the Company.  The per share amount
received by holders of Preferred Stock will be based on the number
of shares of Common Stock into which a share of Preferred Stock is
convertible.

Concurrently with the execution of the merger agreement, WaferGen
and TBUSH entered into a Deposit Agreement pursuant to which,
following receipt of WaferGen stockholder approval of the merger
agreement, TBUSH will pay to WaferGen (1) $2.5 million and (2)
after January 1, 2017 and on or before January 17, 2017, an
additional $2.5 million (collectively, the "Deposit Amount").  Each
payment of the Deposit Amount is conditioned on WaferGen's
remaining in compliance with the merger agreement and certain other
conditions set forth in the Deposit Agreement.  In the event that
the merger agreement is terminated, unless such termination is due
to TBUSH's breach, WaferGen must return to TBUSH the amount of the
Deposit Amount.  WaferGen also has the right to return all or any
portion of the Deposit Amount prior to the date ten business days
prior to the closing of the merger.

The transaction is subject to customary closing conditions
including, among other things, approval by WaferGen's stockholders
and completion of WaferGen's 2016 audit.

                            Advisors

Torreya Partners acted as financial advisor to WaferGen.  GCA
Savvian acted as financial advisor to Takara Bio.  Morrison &
Foerster LLP acted as legal counsel to Takara Bio while K&L Gates
LLP acted as legal counsel for WaferGen.

Meanwhile, the employment agreement of Ivan Trifunovich, the
executive chairman of the Company's board of directors, was amended
to, among other things, extend the term of the employment agreement
as well as certain compensation provisions, including those
pertaining to salary, bonus and contingent payment rights, through
the earlier of (i) March 31, 2017, and (ii) the closing of the
Merger, and eliminate provisions relating to stock options and
severance pay.

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

                       https://is.gd/QilwTo

                   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.

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.


WORLD GOSPEL: Case Summary & 6 Unsecured Creditors
--------------------------------------------------
Debtor: World Gospel Mission Church
        307 Vreeland Ave.
        Leonia, NJ 07605

Case No.: 16-19598

Chapter 11 Petition Date: May 17, 2016

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

Judge: Hon. Rosemary Gambardella

Debtor's Counsel: David L. Stevens, Esq.
                  SCURA, WIGFIELD, HEYER & STEVENS, LLP
                  1599 Hamburg Turnpike
                  Wayne, NJ 07470
                  Tel: 973-696-8391
                  E-mail: dstevens@scuramealey.com
                          ecfbkfilings@scuramealey.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $500,000 to $1 million

The petition was signed by Joung H. Park, trustee.

A list of the Debtor's six largest unsecured creditors is available
for free at http://bankrupt.com/misc/njb16-19598.pdf


Y&K SUN: Files for Chapter 11, Wants Trustee to Take Over
---------------------------------------------------------
Y&K Sun, Inc., on May 13, 2016, filed a motion asking the U.S.
Bankruptcy Court for the District of Colorado to direct the
appointment of a Chapter 11 trustee.

The Debtor owns a portion of the JCRS shopping center on Colfax
Avenue in Lakewood, Colorado, in the same shopping center as the
Casa Bonita restaurant. The portion of the JCRS Property owned by
the Debtor consists of approximately 42,000 square feet of retail
space divided into 15 units, 11 of which (comprising approximately
29,000 square feet) are occupied by tenants.

As of July 2015, the JCRS Property had an appraised value of
$4,630,000, and with certain repairs, changes to the existing
leases and leasing vacant space, it was estimated by an appraiser
to be worth $6,200,000.  The JCRS Property is subject to a deed of
trust in favor of First National Bank ("FNB") in approximate
current amount of $2,500,000.  The Debtor is current on its
payments to FNB, which includes an escrow for real estate taxes and
insurance.  Accordingly, there is significant equity in the JCRS
Property.

The Debtor is a defendant in Kim v. Y&K Sun, Inc., 10cv665 (the
"Pending Litigation"), currently pending in the Douglas County
District Court for Colorado.  The plaintiffs in Pending Litigation
are Wonjoong and Yoonee Kim (the "Kims"), who claim an amount due
between approximately $1,441,000 and $2,400,000.  In the Pending
Litigation, the Kims filed a lis pendens against the JCRS Property,
which prevented Debtor from effectively attempting to sell or
refinance the JCRS Property.

The Debtor is owned 100% by Hyungkeun and Yeonam Kim Sun (the
"Individuals"), who are debtors in possession in 12-25005-MER (the
"Individual Case").  The Individual Case was filed in 2012 as a
chapter 7 case and converted to chapter 11 in March 2015.  The Kims
have a non-dischargeable judgment against the Individuals in the
approximate amount of $1,441,000.

The Debtor seeks to appoint a chapter 11 trustee under 11 U.S.C.
Sec. 1104(a)(2), saying it is in the best interests of the estate.
The Debtor hired attorney Joel Laufer in March 2016 to attempt to
negotiate a resolution of the Kims' claims against the Debtor.  The
Debtor and the Kims were unable to resolve the Kims' claim against
the Debtor.

The Debtor believes the value of the JCRS Property is sufficient to
pay all of its debts and yield a surplus to the Individual Case.
The Kims and the Individuals have been in litigation in one forum
or another for six years.  The Debtor asserts that a chapter 11
trustee is in the best position to make independent decisions
regarding the JCRS Property and other matters that may affect the
Debtor's estate, and to most cost effectively operate and sell the
JCRS Property for the benefit of all interested parties.

Attorneys for Y&K Sun, Inc.:

        ONSAGER | GUYERSON | FLETCHER | JOHNSON
        Andrew D. Johnson
        Christian C. Onsager
        1801 Broadway, Suite 900
        Denver, Colorado 80202
        Tel: (303) 512-1123
        Fax: (303) 512-1129
        E-mail: ajohnson@ogfj-law.com
                consager@ogfj-law.com

Y&K Sun, Inc. sought Chapter 11 protection (Bankr. D. Colo. Case
No. 16-14761) on May 12, 2016.  The case judge is Hon. Howard R
Tallman.  The Debtor estimated $1 million to $10 million in assets
and debt.


ZLOOP INC: Auction for Hickory Assets on June 13
------------------------------------------------
ZLOOP, Inc., and its affiliated debtors on May 16, 2016 won
approval of bidding procedures in connection with the sale of
certain real property located in Hickory, N.C., and all fixtures,
improvements and equipment thereon.

Pursuant to the terms of the Bidding Procedures, an auction to sell
the Hickory Assets will be conducted on June 13, 2016 at 10:00 a.m.
(prevailing Eastern time) at the offices of DLA Piper LLP (US),
1201 N. Market Street, Suite 2100, Wilmington, DE 19801, or at such
other location as will be identified in a notice filed with the
Bankruptcy Court at least 48 hours before the Auction.  

A hearing will be held to approve the sale of the Hickory Assets to
the successful bidder before the Honorable Kevin J. Carey of the
United States Bankruptcy Court for the District of Delaware, 824
Market Street, Wilmington, Delaware 19801, 5th Floor, Courtroom 5,
on June 23, 2016 at 10:00 a.m. (prevailing Eastern time), or at
such time thereafter as counsel may be heard or at such other time
as the Bankruptcy Court may determine.

Objections to the sale will be filed and served so as to be
received no later than 4:00 p.m. (prevailing Eastern Time) on June
17, 2016.

The Debtors told the Court in a May 3, 2016 filing, they have
entered into a term sheet for Dynamic Recycling to act as stalking
horse bidder for the Hickory Assets.

Counsel to the Stalking Horse Purchaser:

         FOX ROTHSCHILD, LLP
         Attn: Jeffrey Schlerf, Esq.
         919 North Market Street, Suite 300
         Wilmington, DE 19801
         E-mail: JSchlerf@foxrothschild.com

                         About ZLOOP, Inc.

ZLOOP operates a proprietary, state of the art, 100% landfill free
eWaste recycling company headquartered in Hickory, North Carolina.
Founded in 2012, the Company offers eWaste recycling and data
destruction services through its facility in Hickory, NC.

ZLOOP, Inc., and two affiliates sought Chapter 11 protection
(Bankr. D. Del. Case No. 15-11660) on Aug. 9, 2015.  

The Debtors tapped DLA Piper LLP as counsel.

As of the Petition Date, the Debtors' unaudited consolidated
balance sheet reflect total assets of approximately $25 million,
including the land and improvements, but excluding certain
commodity inventories that are the output of eWaste recycling, and
total liabilities of approximately $32 million.

On Sept. 2, 2015, the U.S. trustee overseeing the Debtors' Chapter
11 cases appointed Recycling Equipment Inc., E Recycling Systems
LLC and Carolina Metals Group to serve on the official committee
of
unsecured creditors.  The committee is represented by Cole Schotz
P.C.

                            *     *     *

Zloop, Inc., et al., filed with the U.S. Bankruptcy Court for the
District of Delaware a Joint Chapter 11 Plan of Liquidation and
accompanying disclosure statement, which contemplate the sale of
substantially all of the Debtors' assets, before, on or following
the Effective Date.


[*] Railroads Face Pressure from Weak Coal Shipments, Moody's Says
------------------------------------------------------------------
Underscoring the weak industry conditions which will likely
continue through at least the third quarter of 2016, Moody's
Investors Service changed its industry outlook to negative from
stable, as deep and long-lasting declines in freight volumes
continue to pressure North American railroads.

"Volumes of coal, the second-largest freight group in the North
American railroad industry, plunged by an unprecedented 37% in
April amid persistently low natural gas prices and high stockpiles
at utilities after a warm winter," noted Moody's Vice President and
Senior Analyst Rene Lipsch.

"We expect the current weakness in freight demand to persist
through at least the third quarter of 2016, and for revenue growth
to fall below zero -- our minimum for a stable outlook," added
Lipsch.

According to Moody's newly released report, "Where Is the Bottom?
Rail Freight Drops as Coal Carloads Plunge," total freight volumes
declined by 11.4% in April 2016, resulting in a 7.4% decline so far
in 2016.  Moody's projects total freight volume to decline
3.5%-4.5% in 2016, driven in particular by an expected 20%-25%
decline in coal shipments.

With the notable exception of strong growth in automotive carloads
and flattish volumes in chemicals, most other freight categories
declined concurrently with coal.  Factors contributing to these
declines include the severe drop in oil prices, high retail
inventory levels amid hesitant consumer spending, weak US
manufacturing activities and the adverse impact of the strong US
dollar on exports.

Freight volume comps in the second and third quarter will remain
high, said Moody's, making it likely for the current weakness in
freight to persist through at least the third quarter of 2016. Even
so, Moody's expects freight comps will retreat in the fourth
quarter of 2016, not only for total carloads, but more broadly
across all freight groups.

While weak near-term freight demand is thus likely to persist,
Moody's expects a more moderate decline in freight volumes of
1.0%-1.5% in the 12 months through April 2017, supported by lower
comps rather than an expected pick-up in sequential growth.

Combined with a 2.5%-3.0% increase in core pricing, revenue growth
will be 1.0%-2.0%, excluding changes in fuel surcharges and a
likely negative impact of changes in freight mix.

The negative outlook on the industry could return to stable if
volume declines ease in the fourth quarter of 2016, or sooner if
coal freight picks up to meet summer cooling demands, concurrent
with improving intermodal shipments from reduced retail
inventories.


[^] Recent Small-Dollar & Individual Chapter 11 Filings
-------------------------------------------------------
In re Calera Gas, LLC
   Bankr. N.D. Ala. Case No. 16-70740
      Chapter 11 Petition filed May 2, 2016
         See http://bankrupt.com/misc/alnb16-70740.pdf
         represented by: Lee R. Benton, Esq.
                         BENTON & CENTENO, LLP
                         E-mail: lbenton@bcattys.com

In re John Kenneth Rodrigo
   Bankr. N.D. Cal. Case No. 16-41217
      Chapter 11 Petition filed May 2, 2016
         Represented by: Scott J. Sagaria, Esq.
                         LAW OFFICES OF SCOTT J. SAGARIA
                         E-mail: SagariaBK@sagarialaw.com

In re Lee Martin Friedman
   Bankr. M.D. Fla. Case No. 16-03823
      Chapter 11 Petition filed May 2, 2016
         Represented by: Denise D Dell-Powell, Esq.
                         BURR & FORMAN LLP
                         E-mail: ddpowell@burr.com

In re Juan R Rodriguez
   Bankr. M.D. Fla. Case No. 16-03838
      Chapter 11 Petition filed May 2, 2016
         Represented by: Juan R Rodriguez, Esq.
                         BRIAN K. MCMAHON, P.A.
                         E-mail: briankmcmahon@gmail.com

In re Medley Plaza, Inc
   Bankr. S.D. Fla. Case No. 16-16381
      Chapter 11 Petition filed May 2, 2016
         See http://bankrupt.com/misc/flsb16-16381.pdf
         filed Pro Se

In re SBW Enterprise, LLC
   Bankr. N.D. Ga. Case No. 16-57735
      Chapter 11 Petition filed May 2, 2016
         Filed Pro Se

In re Ronald H. Cohen
   Bankr. S.D. Ga. Case No. 16-40653
      Chapter 11 Petition filed May 2, 2016
         represented by: Richard C. E. Jennings, Esq.
                         LAW OFFICES OF SKIP JENNINGS, PC
                         E-mail: skipjenningspc@comcast.net

In re T&C Gymnastics, LLC
   Bankr. N.D. Ill. Case No. 16-14993
      Chapter 11 Petition filed May 2, 2016
         See http://bankrupt.com/misc/ilnb16-14993.pdf
         represented by: Joshua D. Greene, Esq.
                         SPRINGER BROWN, LLC
                         E-mail: jgreene@springerbrown.com

In re Artigiano Roofing Solutions, Inc.
   Bankr. N.D. Ill. Case No. 16-81106
      Chapter 11 Petition filed May 2, 2016
         See http://bankrupt.com/misc/ilnb16-81106.pdf
         represented by: Lester A Ottenheimer III, Esq.
                         OTTENHEIMER LAW GROUP, LLC
                         E-mail: lottenheimer@olawgroup.com

In re Chieftain Steel, LLC
   Bankr. W.D. Ky. Case No. 16-10407
      Chapter 11 Petition filed May 2, 2016
         See http://bankrupt.com/misc/kywb16-10407.pdf
         represented by: Constance G. Grayson, Esq.
                         GULLETTE & GRAYSON, PSC
                         E-mail: cgraysonlaw@yahoo.com

In re S. Hemenway, Inc.
   Bankr. D. Minn. Case No. 16-31466
      Chapter 11 Petition filed May 2, 2016
         See http://bankrupt.com/misc/mnb16-31466.pdf
         represented by: Steven B Nosek, Esq.
                         STEVEN NOSEK
                         E-mail: snosek@noseklawfirm.com

In re Live Naturally LLC
   Bankr. W.D.N.C. Case No. 16-30739
      Chapter 11 Petition filed May 2, 2016
         See http://bankrupt.com/misc/ncwb16-30739.pdf
         filed Pro Se

In re Michael Eugene Bishop
   Bankr. D.N.D. Case No. 16-30213
      Chapter 11 Petition filed May 2, 2016
         Represented by: Sara Diaz, Esq.
                         BULIE LAW OFFICE
                         E-mail: sara@bulielaw.com

In re Eric Stolte
   Bankr. D.N.J. Case No. 16-18606
      Chapter 11 Petition filed May 2, 2016
         Represented by: John O'Boyle, Esq.
                         NORGAARD O'BOYLE
                         E-mail: joboyle@norgaardfirm.com

In re D. P. Garcia
   Bankr. D.N.M. Case No. 16-11105
      Chapter 11 Petition filed May 2, 2016
         Represented by: Louis Puccini Jr., Esq.
                         KEN WAGNER LAW, PA
                         E-mail: louis@kenwagnerlaw.com

In re Marclay EMS, Inc., Successor to Marclay Community Ambulance,
Inc.
   Bankr. W.D. Pa. Case No. 16-21671
      Chapter 11 Petition filed May 2, 2016
         See http://bankrupt.com/misc/pawb16-21671.pdf
         represented by: Daniel R. White, Esq.
                         ZEBLEY MEHALOV & WHITE, P.C.
                         E-mail: dwhite@zeblaw.com

In re Jose L Ruiz Ramirez and Miriam I Torres Gonzalez
   Bankr. D.P.R. Case No. 16-03552
      Chapter 11 Petition filed May 2, 2016
         represented by: Edgardo Mangual Gonzalez, Esq.
                         EMG DESPACHO LEGAL, CRL.
                         E-mail: lcdomangual@gmail.com

In re MB Boardwalk Entertainment, LLC
   Bankr. D.S.C. Case No. 16-02222
      Chapter 11 Petition filed May 2, 2016
         Filed Pro Se

In re Norma Hart
   Bankr. E.D. Tex. Case No. 16-40833
      Chapter 11 Petition filed May 2, 2016
         See http://bankrupt.com/misc/txeb16-40833.pdf
         represented by: J. Bennett White, Esq.
                         J. BENNETT WHITE, P.C.
                         E-mail: jbw@jbwlawfirm.com

In re Anwar Thib Ahmad
   Bankr. N.D. Tex. Case No. 16-41797
      Chapter 11 Petition filed May 2, 2016
         Represented by: Behrooz P. Vida, Esq.
                         THE VIDA LAW FIRM, PLLC
                         E-mail: filings@vidalawfirm.com

In re Intel Investment Properties LLC
   Bankr. S.D. Tex. Case No. 16-32314
      Chapter 11 Petition filed May 2, 2016
         See http://bankrupt.com/misc/txsb16-32314.pdf
         Filed Pro Se

In re Kimberly Gregory Brown
   Bankr. D. Utah Case No. 16-23742
      Chapter 11 Petition filed May 2, 2016
         Represented by: Roger A. Kraft, Esq.
                         E-mail: courtmail@rogerkraftlaw.com

In re Lopez Consulting Group, PLC
   Bankr. E.D. Va. Case No. 16-11548
      Chapter 11 Petition filed May 2, 2016
         Represented by: George LeRoy Moran, Esq.
                         E-mail: glmoran@yahoo.com

In re Jeffrey Kenneth Lingbloom and Laurie Valerie Lingbloom
   Bankr. W.D. Wash. Case No. 16-12405
      Chapter 11 Petition filed May 2, 2016
         represented by: Masafumi Iwama, Esq.
                         IWAMA LAW FIRM
                         E-mail: matt@iwamalaw.com

In re Oscar Navarro
   Bankr. C.D. Cal. Case No. 16-11351
      Chapter 11 Petition filed May 3, 2016
         represented by: Onyinye N Anyama, Esq.
                         ANYAMA LAW FIRM
                         E-mail: onyi@anyamalaw.com

In re David A. McCabe and Pamela McCabe
   Bankr. N.D. Cal. Case No. 16-51338
      Chapter 11 Petition filed May 3, 2016
         represented by: Charles B. Greene, Esq.
                         LAW OFFICES OF CHARLES B. GREENE
                         E-mail: cbgattyecf@aol.com

In re Ritz Beauty Academy, LLC
   Bankr. N.D. Ga. Case No. 16-57905
      Chapter 11 Petition filed May 3, 2016
         Filed Pro Se

In re Gianni's Italian Restaurant & Cafe, Inc.
   Bankr. N.D. Ill. Case No. 16-15094
      Chapter 11 Petition filed May 3, 2016
         See http://bankrupt.com/misc/ilnb16-15094.pdf
         represented by: Joel A Schechter, Esq.
                         LAW OFFICES OF JOEL SCHECHTER
                         E-mail: joelschechter@covad.net

In re Ledges, LLC
   Bankr. D. Mass. Case No. 16-11680
      Chapter 11 Petition filed May 3, 2016
         See http://bankrupt.com/misc/mab16-11680.pdf
         represented by: John M. McAuliffe, Esq.
                         MCAULIFFE & ASSOCIATES, P.C.
                         E-mail: john@jm-law.net

In re Irma Gomez
   Bankr. D. Mass. Case No. 16-11694
      Chapter 11 Petition filed May 3, 2016
         represented by: Michael Van Dam, Esq.
                         VAN DAM LAW LLP
                         E-mail: mvandam@vandamlawllp.com

In re William Cole and Milagros Cole
   Bankr. D. Mass. Case No. 16-11695
      Chapter 11 Petition filed May 3, 2016
         represented by: Michael Van Dam, Esq.
                         VAN DAM LAW LLP
                         E-mail: mvandam@vandamlawllp.com

In re Brian E Kaufman
   Bankr. D. Me. Case No. 16-20253
      Chapter 11 Petition filed May 3, 2016
         represented by: James F. Molleur, Esq.
                         MOLLEUR LAW OFFICE
                         E-mail: jim@molleurlaw.com

In re On Que Food Service LLC d/b/a Jakes Wayback Burgers
   Bankr. E.D.N.Y. Case No. 16-41930
      Chapter 11 Petition filed May 3, 2016
         See http://bankrupt.com/misc/nyeb16-41930.pdf
         represented by: Nigel E Blackman, Esq.
                         BLACKMAN & MELVILLE, PC
                         E-mail: nigel@bmlawonline.com

In re Philip A Wellner
   Bankr. N.D.N.Y. Case No. 16-10798
      Chapter 11 Petition filed May 3, 2016
         Represented by: Richard H. Weiskopf, Esq.
                         THE DELORENZO LAW FIRM
                         E-mail: Rweiskopf@delolaw.com

In re Jose A Torres Flores and Ana Garcia Maldonado
   Bankr. D.P.R. Case No. 16-03569
      Chapter 11 Petition filed May 3, 2016
         Represented by: Nydia Gonzalez Ortiz, Esq.
                         SANTIAGO & GONZALEZ
                         E-mail: bufetesg@gmail.com

In re Mid-South Auto Auction, Inc.
   Bankr. E.D. Tenn. Case No. 16-31383
      Chapter 11 Petition filed May 3, 2016
         See http://bankrupt.com/misc/tneb16-31383.pdf
         represented by: Keith L Edmiston, Esq.
                         EDMISTON FOSTER
                         E-mail: edmistonfoster@outlook.com

In re Carlos & Carla, LLC
   Bankr. N.D. Tenn. Case No. 16-31824
      Chapter 11 Petition filed May 3, 2016
         See http://bankrupt.com/misc/txnb16-31824.pdf
         filed Pro Se

In re Jerry J. Majek and Martha Ann Majek
   Bankr. S.D. Tex. Case No. 16-20174
      Chapter 11 Petition filed May 3, 2016
         Represented by: Ralph Perez, Esq.
                         CAVADA LAW OFFICE
                         E-mail: ralph.perez@cavadalawoffice.com

In re Patrick Cox
   Bankr. S.D. Tex. Case No. 16-32363
      Chapter 11 Petition filed May 3, 2016
         represented by: Reese W Baker, Esq.
                         BAKER & ASSOCIATES
                         E-mail: courtdocs@bakerassociates.net

In re Candescent Well Service, LLC
   Bankr. W.D. Tex. Case No. 16-70066
      Chapter 11 Petition filed May 3, 2016
         See http://bankrupt.com/misc/txwb16-70066.pdf
         represented by: James Samuel Wilkins, Esq.
                         WILLIS & WILKINS, LLP
                         E-mail: jwilkins@stic.net

In re Margaret Lucille Carswell
   Bankr. C.D. Cal. Case No. 16-10842
      Chapter 11 Petition filed May 4, 2016
         Filed Pro Se

In re Marsha Ann Ralls
   Bankr. D.D.C. Case No. 16-00222
      Chapter 11 Petition filed May 4, 2016
         represented by: William C. Johnson Jr., Esq.
                         LAW OFFICES OF WILLIAM C. JOHNSON, JR.
                         E-mail: wjohnson@dcmdconsumerlaw.com

In re Enertainment City Properties, Inc.
   Bankr. M.D. Fla. Case No. 16-03008
      Chapter 11 Petition filed May 4, 2016
         See http://bankrupt.com/misc/flmb16-03008.pdf
         represented by: Bryan K. Mickler, Esq.
                         LAW OFFICES OF MICKLER & MICKLER
                         E-mail: court@planlaw.com

In re Preferred Concrete & Excavating, Inc.
   Bankr. N.D. Ill. Case No. 16-81114
      Chapter 11 Petition filed May 4, 2016
         See http://bankrupt.com/misc/ilnb16-81114.pdf
         represented by: O Allan Fridman, Esq.
                         LAW OFFICE OF O. ALLAN FRIDMAN
                         E-mail: allanfridman@gmail.com

In re The Reception Place Lace
   Bankr. E.D. La. Case No. 16-11058
      Chapter 11 Petition filed May 4, 2016
         See http://bankrupt.com/misc/laeb16-11058.pdf
         represented by: Roderick T. Morris, Esq.
                         MORRIS LAW FIRM
                         E-mail: imrodd@yahoo.com

In re James Holt, IV
   Bankr. M.D. La. Case No. 16-10529
      Chapter 11 Petition filed May 4, 2016
         represented by: Pamela G. Magee, Esq.
                         E-mail: pam@attorneypammagee.com

In re Eli Kafif and Mary Kafif
   Bankr. E.D.N.Y. Case No. 16-41959
      Chapter 11 Petition filed May 4, 2016
         Represented by: Alla Kachan, Esq.
                         E-mail: alla@kachanlaw.com

In re Uncle Munchies, LLC
   Bankr. E.D.N.Y. Case No. 16-72001
      Chapter 11 Petition filed May 4, 2016
         See http://bankrupt.com/misc/nyeb16-72001.pdf
         represented by: Robert J Spence, Esq.
                         SPENCE LAW OFFICE, P.C.
                         E-mail: rspence@spencelawpc.com

In re Total Resolution, LLC
   Bankr. M.D. Pa. Case No. 16-01939
      Chapter 11 Petition filed May 4, 2016
         See http://bankrupt.com/misc/pamb16-01939.pdf
         represented by: Myles R. Wren, Esq.
                         NOGI APPLETON WEINBERGER AND WREN PC
                         E-mail: mwren@corp-law.net

In re M. A. Chrisman Trucking Inc.
   Bankr. E.D. Tenn. Case No. 16-11790
      Chapter 11 Petition filed May 4, 2016
         See http://bankrupt.com/misc/tneb16-11790.pdf
         represented by: Richard L Banks, Esq.
                         RICHARD BANKS & ASSOCIATES, P.C.
                         E-mail: amiles@rbankslawfirm.com

In re Stewart Ray Dudley
   Bankr. N.D. Ala. Case No. 16-01842
      Chapter 11 Petition filed May 5, 2016
         Represented by: R. Scott Williams, Esq.
                         RUMBERGER, KIRK & CALDWELL, P.C.
                         E-mail: swilliams@rumberger.com

In re Caaz Ventures, LLC
   Bankr. D. Ariz. Case No. 16-05033
      Chapter 11 Petition filed May 5, 2016
         See http://bankrupt.com/misc/azb16-05033.pdf
         represented by: Daniel J. Rylander, Esq.
                         DANIEL J. RYLANDER, P.C.
                         E-mail: ecf@robrylaw.com

In re Firebird Enterprises LLC
   Bankr. D. Colo. Case No. 16-14455
      Chapter 11 Petition filed May 5, 2016
         See http://bankrupt.com/misc/azb16-14455.pdf
         represented by: Kevin S. Neiman, Esq.
                         LAW OFFICES OF KEVIN S. NEIMAN, P.C.
                         E-mail: kevin@ksnpc.com

In re Thomas Patrick McDonough and Jeannine McDonough
   Bankr. S.D. Fla. Case No. 16-16539
      Chapter 11 Petition filed May 5, 2016
         Represented by: Susan D. Lasky, Esq.
                         E-mail: ECF@suelasky.com

In re Edward Vincent Giannasca
   Bankr. D. Md. Case No. 16-16196
      Chapter 11 Petition filed May 5, 2016
         Filed Pro Se

In re Rosefield Construction Inc.
   Bankr. E.D.N.Y. Case No. 16-72016
      Chapter 11 Petition filed May 5, 2016
         See http://bankrupt.com/misc/nyeb16-72016.pdf
         filed Pro Se

In re Dreamscapes, LLC
   Bankr. W.D. Okla. Case No. 16-11755
      Chapter 11 Petition filed May 5, 2016
         See http://bankrupt.com/misc/okwb16-11755.pdf
         represented by: Gary D. Hammond, Esq.
                         E-mail: gary@okatty.com

In re Plaza Las Americas Taco Maker, Corp.
   Bankr. D.P.R. Case No. 16-03638
      Chapter 11 Petition filed May 5, 2016
         See http://bankrupt.com/misc/prb16-03638.pdf
         represented by: Jesus Santiago Malavet, Esq.
                         SANTIAGO MALAVET AND SANTIAGO LAW OFFICE
                         E-mail: secretaria.smslopsc@gmail.com

In re East Air Conditioning, Inc.
   Bankr. D.P.R. Case No. 16-03641
      Chapter 11 Petition filed May 5, 2016
         See http://bankrupt.com/misc/prb16-03641.pdf
         represented by: Jose Guillermo Gonzalez, Esq.
                         JOSE R GONZALEZ HERNANDEZ LAW OFFICE
                         E-mail: jg_gonzalezlaw@hotmail.com

In re Ferreteria Palomas Inc.
   Bankr. D.P.R. Case No. 16-03644
      Chapter 11 Petition filed May 5, 2016
         See http://bankrupt.com/misc/prb16-03644.pdf
         represented by: Gloria Justiniano Irizarry, Esq.
                         JUSTINIANO'S LAW OFFICE
                         E-mail: justinianolaw@gmail.com

In re Grade-Co, LLC
   Bankr. S.D. Tex. Case No. 16-32405
      Chapter 11 Petition filed May 5, 2016
         See http://bankrupt.com/misc/txsb16-32405.pdf
         represented by: Reese W Baker, Esq.
                         BAKER & ASSOCIATES
                         E-mail: courtdocs@bakerassociates.net

In re Real Estate Short Sales Inc
   Bankr. C.D. Cal. Case No. 16-11387
      Chapter 11 Petition filed May 6, 2016
         See http://bankrupt.com/misc/cacb16-11387.pdf
         filed Pro Se

In re Alesha Hawkins
   Bankr. C.D. Cal. Case No. 16-16052
      Chapter 11 Petition filed May 6, 2016
         represented by: Anthony Obehi Egbase, Esq.
                         LAW OFFICES OF ANTHONY O EGBASE & ASSOC
                         E-mail: info@aoelaw.com

In re Gary S. Olsen
   Bankr. D. Conn. Case No. 16-50612
      Chapter 11 Petition filed May 6, 2016
         Represented by: Anthony S. Novak, Esq.
                         NOVAK LAW OFFICE, P.C.
                         E-mail: AnthonySNovak@aol.com

In re Alex S. Chisholm
   Bankr. S.D. Fla. Case No. 16-16643
      Chapter 11 Petition filed May 6, 2016
         Represented by: Chad T Van Horn, Esq.
                         E-mail: Chad@cvhlawgroup.com

In re M&L Auto Services Incorporated
   Bankr. N.D. Ill. Case No. 16-15597
      Chapter 11 Petition filed May 6, 2016
         See http://bankrupt.com/misc/ilnb16-15597.pdf
         represented by: Karen J Porter, Esq.
                         PORTER LAW NETWORK
                         E-mail: porterlawnetwork@gmail.com

In re Metrowest Realty and Investments, LLC
   Bankr. D. Mass. Case No. 16-40795
      Chapter 11 Petition filed May 6, 2016
         See http://bankrupt.com/misc/mab16-40795.pdf
         Filed Pro Se

In re Pedro Vazquez Chona
   Bankr. D. Nev. Case No. 16-12539
      Chapter 11 Petition filed May 6, 2016
         Represented by: Michael J. Harker, Esq.
                         E-mail: notices@harkerlawfirm.com

In re 3C Enterprises II, Inc.
   Bankr. E.D. Pa. Case No. 16-13258
      Chapter 11 Petition filed May 6, 2016
         See http://bankrupt.com/misc/paeb16-13258.pdf
         represented by: Robert M. Greenbaum, Esq.
                         SMITH KANE
                         E-mail: rgreenbaum@sgllclaw.com

In re Bobalu Inc
   Bankr. D.P.R. Case No. 16-03662
      Chapter 11 Petition filed May 6, 2016
         See http://bankrupt.com/misc/prb16-03662.pdf
         represented by: Juan Carlos Bigas Valedon, Esq.
                         JUAN C BIGAS LAW OFFICE
                         E-mail: cortequiebra@yahoo.com

In re Swann Equipment Company, LLC
   Bankr. E.D. Tenn. Case No. 16-11830
      Chapter 11 Petition filed May 6, 2016
         See http://bankrupt.com/misc/tneb16-11830.pdf
         represented by: Harold L North Jr., Esq.
                         CHAMBLISS, BAHNER & STOPHEL, P. C.
                         E-mail: hnorth@chamblisslaw.com

In re Abizer Raj International, LLC
   Bankr. N.D. Tex. Case No. 16-31902
      Chapter 11 Petition filed May 6, 2016
         See http://bankrupt.com/misc/txnb16-31902.pdf
         represented by: Eric A. Liepins, Esq.
                         ERIC A. LIEPINS, P.C.
                         E-mail: eric@ealpc.com

In re Charles Andrew Gurkin
   Bankr. W.D. Tenn. Case No. 16-24310
      Chapter 11 Petition filed May 6, 2016
         Represented by: John Edward Dunlap, Esq.
                         LAW OFFICES OF JOHN E DUNLAP
                         E-mail: jdunlap00@gmail.com

In re George Rickey Gurkin
   Bankr. W.D. Tenn. Case No. 16-24313
      Chapter 11 Petition filed May 6, 2016
         See http://bankrupt.com/misc/tnwb16-24313.pdf
         represented by: John Edward Dunlap, Esq.
                         LAW OFFICES OF JOHN E DUNLAP
                         E-mail: jdunlap00@gmail.com

In re James H. Orso,, Jr.
   Bankr. S.D. Ala. Case No. 16-01516
      Chapter 11 Petition filed May 9, 2016
         represented by: Michael J. Harbin, Esq.
                         E-mail: mharbin370546809@aol.com

In re Linna Zhao
   Bankr. N.D. Cal. Case No. 16-30514
      Chapter 11 Petition filed May 9, 2016
         represented by: Nancy Weng, Esq.
                         Trinh Law
                         E-mail: nweng@trinhlawfirm.com

In re Frederick Anthony DeFalco
   Bankr. S.D. Fla. Case No. 16-16697
      Chapter 11 Petition filed May 9, 2016
         Represented by: Chad T Van Horn, Esq.
                         E-mail: Chad@cvhlawgroup.com

In re Monserrate Hernandez
   Bankr. N.D. Ill. Case No. 16-15759
      Chapter 11 Petition filed May 9, 2016
         See http://bankrupt.com/misc/ilnb16-15759.pdf
         represented by: Jeffrey Strange, Esq.
                         JEFFREY STRANGE & ASSOCIATES
                         E-mail: jstrangelaw@aol.com

In re Antoine Elkhoury
   Bankr. D. Mass. Case No. 16-40806
      Chapter 11 Petition filed May 9, 2016
         Represented by: Joseph P. Foley, Esq.
                         LAW OFFICES OF JOSEPH P. FOLEY
                       E-mail: bostonbankruptcyattorneys@gmail.com

In re C & C Seven, Inc.
   Bankr. N.D. Ohio Case No. 16-61013
      Chapter 11 Petition filed May 9, 2016
         See http://bankrupt.com/misc/ohnb16-61013.pdf
         represented by: Edwin H. Breyfogle, Esq.
                         E-mail: edwinbreyfogle@sssnet.com

In re Digiexpress, Inc.
   Bankr. W.D. Pa. Case No. 16-21752
      Chapter 11 Petition filed May 9, 2016
         See http://bankrupt.com/misc/pawb16-21752.pdf
         represented by: Christopher M. Frye, Esq.
                         STEIDL & STEINBERG
                         E-mail: chris.frye@steidl-steinberg.com

In re Bridgewerks Construction, LLC
   Bankr. W.D. Pa. Case No. 16-21757
      Chapter 11 Petition filed May 9, 2016
         See http://bankrupt.com/misc/pawb16-21757.pdf
         represented by: Gary William Short, Esq.
                         E-mail: garyshortlegal@gmail.com

In re Dennis Ray Johnson, II
   Bankr. S.D.W. Va. Case No. 16-30227
      Chapter 11 Petition filed May 9, 2016
         Represented by: Christopher S. Smith, Esq.
                         HOYER, HOYER & SMITH, PLLC
                         E-mail: chris@hhsmlaw.com

In re The Craig Gersh Trust dated July 11, 2002
   Bankr. C.D. Cal. Case No. 16-11411
      Chapter 11 Petition filed May 10, 2016
         See http://bankrupt.com/misc/cacb16-11411.pdf
         represented by: Michael D Kwasigroch, Esq.
                         MICHAEL KWASIGROCH LAW FIRM
                         E-mail: attorneyforlife@aol.com

In re Anthony Kelley Trustee of the LA Realty Power Trust
   Bankr. C.D. Cal. Case No. 16-16187
      Chapter 11 Petition filed May 10, 2016
         See http://bankrupt.com/misc/cacb16-16187.pdf
         filed Pro Se

In re Pavel Ivanovich Paly
   Bankr. M.D. Fla. Case No. 16-01764
      Chapter 11 Petition filed May 10, 2016
         Represented by: Brett A Mearkle, Esq.
                         THE LAW OFFICES OF BRETT A. MEARKLE, P.A.
                         E-mail: bmearkle@mearklelaw.com

In re Alexander Corporate Accommodations, LLC
   Bankr. N.D. Ga. Case No. 16-58261
      Chapter 11 Petition filed May 10, 2016
         filed Pro Se

In re Amir M. Sassine
   Bankr. D. Mass. Case No. 16-11776
      Chapter 11 Petition filed May 10, 2016
         Represented by: Joseph P. Foley, Esq.
                         LAW OFFICES OF JOSEPH P. FOLEY
                       E-mail: bostonbankruptcyattorneys@gmail.com

In re Ronald A. Marino
   Bankr. E.D. Mich. Case No. 16-47104
      Chapter 11 Petition filed May 10, 2016
         Represented by: Jason W. Bank, Esq.
                         Kerr, Russell and Weber, PLC
                         E-mail: jbank@kerr-russell.com

In re Deborah A. Turnbull, As Trustee Of Uniform Commercial
Directive Complex Business Trust
   Bankr. D. Nev. Case No. 16-12585
      Chapter 11 Petition filed May 10, 2016
         See http://bankrupt.com/misc/nvb16-12585.pdf
         filed Pro Se

In re Joyuda Sea Food Inc.
   Bankr. D.P.R. Case No. 16-03770
      Chapter 11 Petition filed May 10, 2016
         See http://bankrupt.com/misc/prb16-03770.pdf
         represented by: Gloria Justiniano Irizarry, Esq.
                         JUSTINIANO'S LAW OFFICE
                         E-mail: justinianolaw@gmail.com

In re Global Taxi & Transportation, LLC
   Bankr. N.D. Tex. Case No. 16-41896
      Chapter 11 Petition filed May 10, 2016
         See http://bankrupt.com/misc/txnb16-41896.pdf
         represented by: John Paul Stanford, Esq.
                         QUILLING, SELANDER, LOWNDS, ET AL
                         E-mail: jstanford@qslwm.com

In re Vista Environmental, Inc.
   Bankr. E.D. Va. Case No. 16-32366
      Chapter 11 Petition filed May 10, 2016
         See http://bankrupt.com/misc/vaeb16-32366.pdf
         represented by: Paula S. Beran, Esq.
                         TAVENNER & BERAN, PLC
                         E-mail: pberan@tb-lawfirm.com


                            *********

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 ***