TCR_Public/160528.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Saturday, May 28, 2016, Vol. 20, No. 149

                            Headlines

AXION INTERNATIONAL: Files Monthly Operating Report for April
NEPHROGENEX INC: Files Initial Monthly Operating Report

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AXION INTERNATIONAL: Files Monthly Operating Report for April
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Axion International Holdings, Inc., filed with the U.S. Securities
and Exchange Commission its monthly operating report for April
2016, a copy of which is available at https://is.gd/1yQ8xa  

The Debtor showed no activity during the reporting period.

               About Axion International

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

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

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

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

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

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

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

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


NEPHROGENEX INC: Files Initial Monthly Operating Report
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NephroGenex, Inc., filed with the U.S. Securities and Exchange
Commission an initial monthly operating report on May 16, 2016.

The Debtor's Initial MOR includes a cash flow projection for the
13-week period covering the week ended May 1, 2016 through
the week ended July 24, 2016.

The Debtor projects disbursements to total $805,685 for the
13-week period ended July 24, 2016.

The Initial MOR also include a schedule of retainers paid to
professionals.  Among the Debtors' bankruptcy professionals are
Cole Scotz P.C., Kurtzman Carson Consultants LLC, and Eisner Amper
LLP.

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

                    https://is.gd/rbj0cZ

Raleigh, N.C.-based NephroGenex, Inc., is a drug development
company that focuses on developing novel therapies for kidney
disease.  It develops Pyridorin (pyridoxamine dihydrochoride), a
therapeutic agent, which is in Phase III clinical study for the
treatment of diabetic nephropathy.

It filed for Chapter 11 bankruptcy protection (Bankr. D. Del. Case
No. 16-11074) on April 30, 2016, listing $4.9 million in total
assets as of April 30, 2016, and $6.2 million in total debts as of
April 30, 2016.  The petition was signed by John P. Hamill, chief
executive officer and chief financial officer.

David R. Hurst, Esq., at Cole Scotz P.C. serves as the Debtor's
bankruptcy counsel.

Cassel Salpeter & Co. LLC is the Debtor's investment banker and
financial advisor.

Kurtzman Carson Consultants LLC is the Debtor's claims and noticing
agent.



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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
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Monthly Operating Reports are summarized in every Saturday edition
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The Sunday TCR delivers securitization rating news from the week
then-ending.

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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,
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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.

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