TCR_Public/160831.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Wednesday, August 31, 2016, Vol. 20, No. 244

                            Headlines

26 METAL RECYCLING: Voluntary Chapter 11 Case Summary
A&M FLORIDA: Court Won't Reconsider Refusal to Pierce Corp. Veil
AEP INDUSTRIES: S&P Puts 'B' CCR on CreditWatch Positive
AEROPOSTALE INC: Court Refuses to Subordinate Term Lenders' Claims
AEROPOSTALE INC: General Growth et al. Said to Bid for 229 Stores

AEROPOSTALE INC: Sycamore Partners Confirms Bid for Retailer
AEROPOSTALE INC: W. Agin Named Consumer Privacy Ombudsman
AGAP LIFE: Exit Plan to Pay Unsecured Creditors in Full
AKO INTERIOR: To Focus on Interior Design with Large Hotels
ALEXANDER PAPAKYRIAKOU: Faces Jail Time for Falsifying Bankr. Docs

APS-STELLAR VIEW: Hires Ellsworth & Bennion as Attorney
ARMAND EXTERMINATING: Case Summary & 9 Unsecured Creditors
BARRY CARAVAN: Unsecureds To Get $570 in Monthly Payments
BROOKLYN INTERIORS: Can Use Chase's Cash Collateral On Final Basis
BROWNIE'S MARINE: Defaults on Convertible Debentures and Payables

CANBRIAM ENERGY: S&P Affirms 'B-' LT CCR; Outlook Stable
CIVITAS SOLUTIONS: S&P Affirms 'B+' CCR, Outlook Stable
CS MINING: Hires Pepper Hamilton as Bankruptcy Counsel
CS MINING: Hires Snell & Wilmer as Local Bankruptcy Counsel
DEL RESTAURANT: Wants to Use Cash Based on Amended Budget

DESERT SPRINGS: Wants Plan Filing Period Extended to October 15
DIMMIT CORN: Judgment Awarding Atty's Fees to Corn Mill Reversed
DOMINION STEEL: Wants to Use Crestmark Bank Cash, Get DIP Loan
DREAMWORKS ANIMATION: Fitch Withdraws BB+ Rating on Sr. Facility
ELK CREEK: Authorized to Use Cash Collateral on Interim Basis

ENERGY FUTURE: Balks at City of Dallas' $16.2M Claim
ENERGY TRANSFER: Fitch Affirms 'BB' Rating on Jr. Sub. Notes
ESSAR STEEL: Names David Pauker as Chief Restructuring Officer
FIELDWOOD ENERGY: Moody's Assigns B2 Rating on $387.6MM Facility
FILTRATION GROUP: Moody's Puts B2 CFR Under Review for Downgrade

FLEXI-VAN LEASING: S&P Revises Outlook on 'BB-' CCR to Negative
FLOUR CITY BAGELS: Has Until October 14 to File Plan
FOCUS LEARNING: Fitch Lowers Rating on $9MM Revenue Bonds to 'CCC'
FTS INTERNATIONAL: Moody's Lowers CFR to Caa3; Outlook Negative
GIBSON ENERGY: S&P Revises Outlook to Neg. & Affirms 'BB' CCR

GOODMAN AND DOMINGUEZ: Wants Sept. 21 Extension of Plan Filing Date
GRYPHON GOLD: WGV to Auction Borealis Shares on September 16
HALCON RESOURCES: SEC Balks at Liability Releases in Exit Plan
HEBREW HEALTH: Has Until Sept. 9 to Use Cash Collateral
HHH CHOICES: Court Approves Sale of HHSH Assets to Bethel

HOPTO INC: Needs More Capital to Continue as a Going Concern
HORSEHEAD HOLDING: Plan Confirmation Trial Begins
HOUSTON REGIONAL: Fox Balks at Comcast's Bid for Documents
HT FOUNDATION: Hires Campbell & Levine as Counsel
HT FOUNDATION: Hires Reeder & Shuman as Local Counsel

INFOMOTION SPROTS: Has Until September 30 to File Chapter 11 Plan
INTEVA PRODUCTS: S&P Raises Rating on Term Loan to 'B+'
IRELAND NEEDLECRAFT: Bike Retailer Files for Bankruptcy Protection
IRELAND NEEDLECRAFT: Case Summary & 20 Top Unsecured Creditors
J&C OILFIELD: Court Allows Cash Collateral Use on Final Basis

J.J. BAKER: Case Summary & Unsecured Creditor
JOHN JOHNSON III: Unsecured Creditors to Get 35% of Claims
JONATHAN RUBIN: Disclosure Statement Hearing Set For Sept. 15
KEELEY AND GRABANSKI: 8th Circ. Affirms Setoff Ruling
KENNY LEIGH: Wants to Use IRS Cash Collateral

KIWA BIO-TECH: Working Capital Deficit Raises Going Concern Doubt
LAST CALL: Selling Liquor License to MAA Annapurna for $100K
LEE STEEL: Court Affirms Order Amending Sale Order
LEGEND OIL: Negative Working Capital Raises Going Concern Doubt
LEHMAN BROTHERS: Court Narrows Claims in "Fried"

LENAPE LAKE: Equity Holders Required to Fund Exit Plan
LINN ENERGY: Can File Chapter 11 Plan Until January 16
M&R CHARLESTON: Court OKs Oct. 3 Plan Filing Period Extension
MAGNETATION LLC: Judge Clears Way for Shutdown
MARBURN STORES: Sale of Substantially All Assets for $793K Gets OK

MAURA E. LYNCH: Unsecureds To Be Paid in Full Under Plan
MAXUS ENERGY: Defends Environmental Settlement with Parent
MED-X TRANS: Exit Plan to Pay Unsecured Creditors in Full
MILLAR WESTERN: S&P Revises Outlook to Neg. & Affirms 'B-' CCR
MOUNSEF INTERNATIONAL: Can Use Bechara Srour Cash Until Nov. 8

NAB HOLDINGS: S&P Revises Outlook on 'B+' CCR to Stable
NEW WORLD CONDOMINIUM: Has Until Oct. 18 to File Plan
NINE WEST: Moody's Lowers CFR to Caa2, Outlook Negative
NINE WEST: S&P Lowers CCR to 'CCC' on Poor Operational Performance
NO PLACE LIKE HOME: Exit Plan to Pay Unsecured Creditors in Full

OAK KNOLL: Broker Not Entitled to Commission, First Circuit Rules
OCZ TECHNOLOGY: SEC Bans Ex-Crowe Horwath Auditor Thomas Dulek
OLD REDFORD: S&P Lowers Rating on Revenue Bonds to 'BB-'
OUTER BANKS: Court Dismisses Suit vs. Tinkham
PACIFIC METRO: Bid to Withdraw Reference of Art Brands Suit OK'd

PARAGON OFFSHORE: Court to Take Up Exit Plan on Sept. 27
PASO GAS: Case Summary & 7 Unsecured Creditors
PATRIOT FLOORING: Unsecureds to Recover Almost 35% Under Plan
PAVEL SAVENOK: To Pay Unsecureds Through Income, Asset Sale
PETERSBURG, VA: S&P Lowers General Obligation Rating to 'BB'

PETROQUEST ENERGY: S&P Lowers CCR to 'CC', Outlook Negative
PICO HOLDINGS: Investor Colin Post Files Books & Records Request
POSITRON CORP: Bid to Approve Agreed Strucural Dismissal Denied
QUORUM HEALTH: S&P Affirms 'B' CCR & Revises Outlook to Negative
RACKSPACE HOSTING: Moody's Puts Ba1 CFR on Review For Downgrade

RACKSPACE HOSTING: S&P Puts 'BB+' CCR on CreditWatch Negative
RADIOSHACK CORP: Judge Approves $41M Settlement of Overtime Suit
RESIDENTIAL CAPITAL: Court Disallows Nguyen's Claim No. 3725
REVOLVE SOLAR: Court Withdraws Order Allowing DIP Financing
RIVER NORTH 414: Can Use Cash Collateral Until Sept. 24

ROBISON TIRE: Hires Molloy-Seidenburg as Accountant
ROCK CREEK PHARMA: Considering Bankruptcy After Default
ROTARY DRILLING: Taps Piper Jaffray as Financial Advisor
SAMSON RESOURCES: Outlines Revised Chapter 11 Exit Plan
SCOTTS MIRACLE-GRO: S&P Affirms 'BB' CCR, Outlook Stable

SFX ENTERTAINMENT: Creditors' Panel Hires Alvarez as Expert
SHULL PLUMBING: Has Until Oct. 4 to Use Cash Collateral
SIGNET JEWELERS: Fitch Lowers IDR to 'BB+'; Outlook Stable
SMILE BRANDS: S&P Affirms Then Withdraws 'CCC+' Corp. Credit Rating
SNYDER & SCHNEIDER: Hires Gonzalez as Attorney

SNYDER VIRGINIA: Hires Gonzalez as Attorney
SOLYMON YASHOUAFAR: More Creditors Seek Ch. 11 Trustee Appointment
SPANISH ISLES: Trustee Hires Branstetter as Accountant
SPORTS AUTHORITY: Defends $1.5 Million Bonus Program
STRATEGIC ENVIRONMENTAL: NJ Judge Dismisses Chapter 11 Case

SUNDEVIL POWER: Exclusive Plan Filing Period Extended to Oct. 7
TATUADO HOSPITALITY: Unsecured Creditors May Get 2% of Claims
TEMBEC INC: S&P Revises Outlook to Stable & Affirms 'B-' CCR
THE KIRK LLC: Cash Collateral Use Through Sept. 30 Approved
THI SELLING: Court OKs Cash Collateral Use on Final Basis

TIME INSURANCE: Moody's Withdraws Ba1 Ratings
TRAFALGAR POWER: Proposes to Pay Unsecured Creditors in Full
TRANSCARE CORP: Patriarch Partners Balks at Subpoena Bid
TRINIDAD DRILLING: S&P Lowers CCR to 'BB-' on Weak Credit Metrics
TRONOX INC: Pa. Residents Ask 2nd Cir. to Revive Tort Suit

TRU TAJ: S&P Assigns 'B-' Rating on $583MM Sr. Secured Notes
TUSK ENERGY: Hires Locke Lord as Counsel
ULTRA PETROLEUM: Scoggin Management et al. Report Equity Stake
ULURU INC: Liquidity Concern Raises Going Concern Doubt
URANIUM ONE: S&P Affirms 'B+' CCR, Outlook Stable

USG CORP: S&P Puts 'BB' Corp. Credit Rating on CreditWatch Pos.
UTSA APARTMENTS 8: Hires Terry Law as Special Counsel
VF HOLDING: S&P Assigns 'B-' CCR, Outlook Stable
VIDA CAFE: Hires Frances M. Caruso as Bookkeeper
ZYLSTRA DAIRY: Case Summary & 20 Largest Unsecured Creditors

[*] Day Pitney Partner James Tancredi Named U.S. Bankruptcy Judge

                            *********

26 METAL RECYCLING: Voluntary Chapter 11 Case Summary
-----------------------------------------------------
Debtor: 26 Metal Recycling Corp.
         705 Calle De Castro
         San Juan, PR 00909-3018

Case No.: 16-06840

Chapter 11 Petition Date: August 29, 2016

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

Debtor's Counsel: Carlos Rodriguez Quesada, Esq.
                  CERQLAW
                  P O Box 9023115
                  San Juan, PR 00902-3115
                  Tel: 787 724-2867
                  E-mail: cerqlaw@gmail.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Judith Queliz Jimenez, president.

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


A&M FLORIDA: Court Won't Reconsider Refusal to Pierce Corp. Veil
----------------------------------------------------------------
Judge Kimba M. Wood of the United States District Court for the
Southern District of New York denied American Federated Title
Corporation's motion for reconsideration of the court's refusal to
pierce the corporate veil of the four limited liability companies
owned by the defendants, Allen and Edith Gross.

AFTC sued four limited liability companies for breach of contract
and unpaid rent.  A year later, AFTC settled those claims for a
total of $7.5 million.  The limited liability companies then failed
to satisfy any portion of the judgment.  In 2013, AFTC commenced a
special proceeding to collect its full $7.5 million judgment from
the defendants Allen and Edith Gross (the owners of the four
limited liability companies) and GFI Management Services, Inc.
(GFIM, an affiliated corporation).

Following a three-day bench trial held during July 2015, the court
declined to pierce the corporate veil of the four limited liability
companies, but ordered the defendants to pay AFTC $485,000 in funds
fraudulently conveyed by the limited liability companies.  The
court held that the defendants had not received any actually
fraudulent conveyances in violation of New York Debtor and Creditor
Law (DCL), but that some -- though not all -- of the conveyances
received by the defendants were constructively fraudulent under DCL
section 273 and section 273-a.

AFTC moved for reconsideration of that decision on the grounds
that:

     (1) the court overlooked evidence presented at trial that
         the defendants created an undercapitalized dummy entity
         specifically to avoid liability to AFTC, and therefore
         that the court erred in declining to pierce the
         corporate veil; and

     (2) the court failed to consider lack of good faith in
         holding that certain management fee payments made to
         GFIM were not constructively fraudulent under DCL
         section 273 and section 273-a.  AFTC argued that certain
         management fee payments made to GFIM were made in bad
         faith, and therefore should be recoverable by AFTC.

Judge Wood held that although courts frequently pierce the veil
when a third party has used an undercapitalized dummy entity to
incur obligations while evading liability, the fact that a
corporation is undercapitalized is not, on its own, enough to
justify piercing the corporate veil.  Judge Wood found that AFTC
failed to show that the Grosses took advantage of the corporate
form to engage in some "wrongful or unjust act" toward AFTC.

Judge Wood also held that AFTC has failed to show that the court's
earlier conclusion that the management fee payments to GFIM were
made for fair consideration -- and without bad faith -- was clear
error or contrary to controlling law.

A full-text copy of Judge Wood's August 11, 2016 opinion and order
is available at https://is.gd/oxIOpT from Leagle.com.

The case is AMERICAN FEDERATED TITLE CORPORATION, Plaintiff, v. GFI
MANAGEMENT SERVICES, INC., ALLEN I. GROSS, and EDITH GROSS,
Defendants, No. 13-CV-6437(KMW) (S.D.N.Y.).

American Federated Title Corporation is represented by:

          Marc Joseph Rachman, Esq.
          DAVIS & GILBERT LLP
          1740 Broadway
          New York, NY 10019
          Tel: (212) 468-4800
          Fax: (212) 468-4888
          Email: mrachman@dglaw.com

            -- and --

          Franklin Lewis Zemel, Esq.
          Lori G. Adelson, Esq.
          ARNSTEIN & LEHR LLP
          200 E. Las Olas Blvd. Suite 1000
          Fort Lauderdale, FL 33301
          Tel: (954) 713-7600
          Fax: (954) 713-7700
          Email: franklin.zemel@arnstein.com

            -- and --

          Joshua Morgan Atlas, Esq. west palm
          ARNSTEIN & LEHR LLP
          515 N. Flagler Drive Suite 600
          West Palm Beach, FL 33401
          Email: jmatlas@arnstein.com  

Brian Gross, Steven Hurwitz, Michael Weiser are represented by:

          Evan M Newman, Esq.
          NEWMAN LAW, P.C.
          377 Pearsall Avenue, Suite C
          Cedarhurst, NY 11516
          Tel: (516) 545-0343
          Fax: (212) 671-1883
          Email: enewman@newmanlawpc.com  

GFI Management Services, Inc., Allen I. Gross, Edith Gross,  are
represented by:

          Joseph Zelmanovitz, Esq.
          STAHL & ZELMANOVITZ
          747 3rd Ave Rm 3301
          New York, NY 10017-2893
          Tel: (212) 826-6363

            -- and --

          Abraham Neuhaus, Esq.
          NEUHAUS & YACOOB LLC
          305 Broadway, 9th Floor
          New York, NY 10007
          Tel: (646) 470-6391
          Fax: (646) 349-1381
          Email: an@neuyac.com  

Robert Cornfeld is represented by:

          Franklin Lewis Zemel, Esq.
          Lori G. Adelson, Esq.
          ARNSTEIN & LEHR LLP
          200 E. Las Olas Blvd. Suite 1000
          Fort Lauderdale, FL 33301
          Tel: (954) 713-7600
          Fax: (954) 713-7700
          Email: franklin.zemel@arnstein.com

          About A&M Florida

A&M Florida Properties II, LLC, based in New York, N.Y., filed a
Chapter 11 petition (Bankr. S.D.N.Y. Case No. 08-15173) on December
29, 2008.  The Debtor is represented by Kevin J. Nash, Esq. at
Finkel Goldstein Rosenbloom Nash, LLP.

In its petition, the Debtor estimated $0 to $50,000 in assets and
$500,001 to $1,000,000 in debts.  The petition was signed by David
Arnow, chief operating officer of the company.


AEP INDUSTRIES: S&P Puts 'B' CCR on CreditWatch Positive
--------------------------------------------------------
S&P Global Ratings said that it has placed all of its ratings on
AEP Industries Inc., including S&P's 'B' corporate credit rating,
on CreditWatch with positive implications.

"AEP Industries Inc. is a North American-based manufacturer of
flexible plastic packaging films," said S&P Global credit analyst
Daniel Lee.  "The CreditWatch placement follows AEP's announcement
that it has agreed to be acquired by Berry Plastics Group, a global
leader in the rigid and flexible packaging space."  S&P could
potentially raise its ratings on AEP by more than one notch if the
transaction closes as S&P expects, given that it currently has a
'BB-' corporate credit rating on Berry Plastics.

S&P expects to update the CreditWatch placement over the next 90
days following the close of the acquisition, which is expected to
occur by the end of December 2016.  S&P expects to raise its
corporate credit and issue-level ratings on AEP Industries by
multiple notches if the transaction closes as currently outlined.
However, S&P also expects to subsequently withdraw its ratings on
AEP because S&P anticipates that all of its outstanding rated debt
will be redeemed at the close of the transaction.


AEROPOSTALE INC: Court Refuses to Subordinate Term Lenders' Claims
------------------------------------------------------------------
In the case captioned In re: AEROPOSTALE, INC., et al., Debtors,
Case No. 15-11275(SHL)(Bankr. S.D.N.Y.), Judge Sean H. Lane of the
United States Bankruptcy Court for the Southern District of New
York denied the debtors' and debtors-in-possession's motion seeking
to:

     (i)   equitably subordinate the claims of Aero Investors LLC
           and MGF Sourcing Holdings, Limited (together, the
           "Term Lenders"), pursuant to Section 510(c) of the
           Bankruptcy Code,

     (ii)  disqualify the Term Lenders from credit bidding in a
           sale of the Debtors’ assets, pursuant to Section
           363(k) of the Bankruptcy Code, and

     (iii) recharacterize the Term Lenders’ claims, pursuant to
           Section 105 of the Bankruptcy Code

MGF has been indirectly majority-owned by an affiliate of Sycamore
Partners.

The Debtors sought this relief based on their allegations of
inequitable conduct by the Term Lenders and certain of their
affiliates and the impact on the case of a credit bid by the Term
Lenders.

As of their bankruptcy filing, the Debtors had outstanding debt
obligations of around $223 million, which were secured by
substantially all of the Debtors’ assets.  This debt was
comprised of (i) an asset-based revolving credit facility with Bank
of America, N.A., and (ii) a term loan with the Term Lenders.

The Court held a trial with fourteen live witnesses from August 15
to August 23.  In support of its case, the Debtors filed
declarations in lieu of direct testimony for six witnesses,
together with over 400 accompanying exhibits.  In response to the
Debtors' case, the Term Lenders presented declarations for seven
witnesses, along with some 500 accompanying exhibits.

Given the extensive trial record and the applicable law, the Court
denied the Debtors' Motion.  The Court concluded that there is not
a basis to equitably subordinate the Term Lenders' claims, limit
their ability to credit bid, or recharacterize their loans.  The
Court said it is mindful of the high stakes in this case for
Aeropostale, but the Court is duty bound to apply the applicable
law to the facts of the case, and the Court's equitable powers are
not boundless.  Touching on the Debtors' alleged bid chillding,
Judge Lane noted that the record demonstrates an active interest in
the Debtors' assets.  This includes parties interested in acquiring
the business as a going concern and parties interested in
liquidating the assets.

A full-text copy of Judge Lane's August 26, 2016 memorandum of
decision is available at
http://bankrupt.com/misc/nysb16-11275-724.pdf

Debtors are represented by:

          Ray C. Schrock, Esq.
          Richard W. Slack, Esq.
          Patrick O'Toole, Jr., Esq.
          Jacqueline Marcus, Esq.
          Garrett A. Fail, Esq.
          Layne S.R. Behrens, Esq.
          WEIL, GOTSHAL & MANGES LLP
          767 Fifth Avenue
          New York, NY 10153
          Tel: (212)310-8000
          Email: ray.schrock@weil.com
                 richard.slack@weil.com
                 patrick.otoole@weil.com
                 jacqueline.marcus@weil.com
                 garrett.fail@weil.com                  
                 layne.behrens@weil.com

Term Lenders are represented by:

          Robert A. Britton, Esq.
          KIRKLAND & ELLIS LLP
          601 Lexington Avenue
          New York, NY 10022
          Tel: (212)446-4800
          Fax: (212)446-4900
          Email: robert.britton@kirkland.com

            --and--

          James A. Stempel, Esq.
          Robert B. Ellis, Esq.
          Stephen C. Hackney, Esq.
          Martin L. Roth, Esq.
          Alec Solotorovsky, Esq.
          Jeffrey Lula, Esq.
          KIRKLAND & ELLIS LLP
          300 North LaSalle Street
          Chicago, IL 60654
          Tel: (312)862-2000
          Fax: (312)862-2200
          Email: james.stempel@kirkland.com
                 robert.ellis@kirkland.com
                 stephanie.hackney@kirkland.com
                 martin.roth@kirkland.com
                 alec.solotorovsky@kirkland.com
                 jeffrey.lula@kirkland.com

The Official Committee of Unsecured Creditors is represented by:

          Robert J. Feinstein, Esq.
          Bradford J. Sandler, Esq.
          PACHULSKI STANG ZIEHL & JONES LLP
          780 Third Avenue, 34th Floor
          New York, NY 10017  
          Tel: (212)561-7700
          Fax: (212)561-7777
          Email: bsandler@pszjlaw.com

                     About Aeropostale Inc.

Aeropostale, Inc. (OTC Pink: AROPQ) 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.

The U.S. trustee for Region 2 on May 11, 2016, appointed seven
creditors of Aeropostale Inc. to serve on the official committee
of unsecured creditors.  The Committee hired Pachulski Stang Ziehl
& Jones LLP as counsel.

                           *     *     *

The Bankruptcy Court entered an order establishing (i) July 25,
2016 at 5:00 p.m. (Eastern Time) as the deadline for each person
Or entity, not including governmental units to file proofs of
claim in respect of any prepetition claims against any of the
Debtors, and (ii) Oct. 31, 2016, at 5:00 p.m. (Eastern Time) as
the deadline for governmental units to file proofs of claim in
respect of any prepetition claims against any of the Debtors.


AEROPOSTALE INC: General Growth et al. Said to Bid for 229 Stores
-----------------------------------------------------------------
Jonathan Randles, writing for Bankruptcy Law360, reported that
sources told Law360 on Tuesday a group of companies have submitted
a leading bid to acquire at least 229 Aeropostale stores.  

The report noted that, a person familiar with the bid, said the
group includes:

     * retail property management firm General Growth Properties,
     * apparel brand licensor Authentic Brands Group,
     * mall owner Simon Property Group, and
     * retail store liquidators Gordon Brothers Retail Partners LLC
and Hilco Merchant Resources LLC

The deal could save the teen apparel retailer and its employees
from a complete liquidation, it added.

                    About Aeropostale Inc.

Aeropostale, Inc. (OTC Pink: AROPQ) 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.

The U.S. trustee for Region 2 on May 11, 2016, appointed seven
creditors of Aeropostale Inc. to serve on the official committee
of unsecured creditors.  The Committee hired Pachulski Stang Ziehl
& Jones LLP as counsel.

                           *     *     *

The Bankruptcy Court entered an order establishing (i) July 25,
2016 at 5:00 p.m. (Eastern Time) as the deadline for each person
Or entity, not including governmental units to file proofs of
claim in respect of any prepetition claims against any of the
Debtors, and (ii) Oct. 31, 2016, at 5:00 p.m. (Eastern Time) as
the deadline for governmental units to file proofs of claim in
respect of any prepetition claims against any of the Debtors.


AEROPOSTALE INC: Sycamore Partners Confirms Bid for Retailer
------------------------------------------------------------
The American Bankruptcy Institute, citing Jim Christie of Reuters,
reported that Sycamore Partners has confirmed it submitted a bid
for Aeropostale Inc after a judge issued an opinion rejecting the
teen-focused retailer's attempt to block an offer and blame its
bankruptcy on the private equity firm.

According to the report, a representative for Sycamore said the
firm made an offer for Aeropostale at the retailer's auction but
declined to say if the offer was a credit bid.

The Troubled Company Reporter, citing The Wall Street Journal,
reported that a bankruptcy judge has dealt a big blow to
Aeropostale Inc.'s bid to survive chapter 11, refusing to rein in
the bidding rights of Sycamore Partners, a former big backer and
now major critic of the retailer.

According to the report, Judge Sean Lane, in a decision signed
Aug.
25 but not made public until Aug. 26, said Sycamore is entitled to
wield its $151 million loan as currency at the bankruptcy auction
of the retail chain, a so-called credit-bid that gives it an
advantage in the competition.

The ruling portends bad news for landlords and employees of the
teen fashion retailer, which has been at odds with Sycamore since
before it filed for bankruptcy protection in May, the report
noted.
The private-equity firm has said liquidation may be the best
outcome for Aeropostale and its stores, and scoffed at the
company's hope of a job-saving turnaround, the report related.

The credit-bid means Sycamore can walk into the auction without
cash, and demand rival bidders pay off the $151 million loan from
Sycamore if they want to save, or liquidate, the company, the
report further related.

Aeropostale said in a statement that it "is disappointed with the
Bankruptcy Court's decision in its litigation against Sycamore
Partners," the report said.

The Troubled Company Reporter, citing WSJ, previously reported
that
Aeropostale was pressing for a ruling that would rein in
Sycamore's
power to determine the company's fate.  Sycamore has contended
liquidation, not a sale of the operating business at a
bargain-basement price, is the best option for creditors, the
report added.

                       About Aeropostale Inc.

Aeropostale, Inc. (OTC Pink: AROPQ) 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 million and total debt
of $390 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.

The U.S. trustee for Region 2 on May 11, 2016, appointed seven
creditors of Aeropostale Inc. to serve on the official committee of
unsecured creditors. The Committee hired Pachulski Stang Ziehl &
Jones LLP as counsel.


AEROPOSTALE INC: W. Agin Named Consumer Privacy Ombudsman
---------------------------------------------------------
William K. Harrington, the United States Trustee for Southern
District of New York, appointed Warren E. Agin, Esq., a member of
Swiggart & Agin, LLC, as the Consumer Privacy Ombudsman in the
Chapter 11 bankruptcy case of Aeropostale, Inc., et al.

In the Verified Statement, Mr. Agin stated that neither he nor any
member of his firm holds or represent any interest adverse to the
estate of the debtors.  He says he has significant expertise
related to service as a privacy ombudsman, with experience in both
commercial bankruptcy and online privacy issues, and having written
and lectured on issues related to privacy and insolvency since
2000.

Mr. Agin's current billing rate is $475 per hour for privacy
ombudsman proceedings. Any increases in the billing rate will be
provided in a written and filed notice to the Court, the Office of
the U.S. Trustee, and any official committee appointed in the
case.

Mr. Agin may be reached at:

     Warren E. Agin, Esq.
     Swiggart & Agin, LLC
     197 Portland Street, Fourth Floor
     Boston, MA 02114
     Phone: 617.517.3203
     Fax: 617.723.2830
     Email: wea@swiggartagin.com

              About Aeropostale Inc.

Aeropostale, Inc. (OTC Pink: AROPQ) 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.

The U.S. trustee for Region 2 on May 11, 2016, appointed seven
creditors of Aeropostale Inc. to serve on the official committee of
unsecured creditors.  The Committee hired Pachulski Stang Ziehl &
Jones LLP as counsel.

                 *     *     *

The Bankruptcy Court entered an order establishing (i) July 25,
2016 at 5:00 p.m. (Eastern Time) as the deadline for each person or
entity, not including governmental units to file proofs of claim in
respect of any prepetition claims against any of the Debtors, and
(ii) Oct. 31, 2016, at 5:00 p.m. (Eastern Time) as the deadline for
governmental units to file proofs of claim in respect of any
prepetition claims against any of the Debtors.


AGAP LIFE: Exit Plan to Pay Unsecured Creditors in Full
-------------------------------------------------------
General unsecured creditors of AGAP Life Offerings, LLC, will
receive full payment of their claims, according to the company's
latest disclosure statement explaining its Chapter 11 plan of
reorganization.

Under the plan, Class 2 general unsecured creditors, which assert
$516,268 in total claims, will be paid in full from the funds
received by AGAP from related entities that owe the company for
covering their policy premiums.

Class 2 claims will bear interest at the rate of 5% per annum until
paid in full.  There will be no prepayment penalty if the claim is
paid early, according to the disclosure statement filed with the
U.S. Bankruptcy Court for the Eastern District of Texas.

A copy of the disclosure statement is available for free at
https://is.gd/LRzOTW

                    About AGAP Life Offerings

AGAP Life Offerings, LLC, based in Frisco, Tex., filed a Chapter 11
petition (Bankr. E.D. Tex. Case No. 16-40520) on March 24, 2016.
Joyce W. Lindauer, Esq., at Joyce W. Lindauer Attorney, PLLC, as
bankruptcy counsel.

In its petition, the Debtor estimated $500,000 to $1 million in
both assets and liabilities.  The petition was signed by Charles D.
Madden, manager.


AKO INTERIOR: To Focus on Interior Design with Large Hotels
-----------------------------------------------------------
Ako Interior LLC on Aug. 12, 2016, filed with the U.S. Bankruptcy
Court for the Eastern District of New York a seventh amended
disclosure statement describing the Debtor's Chapter 11 plan of
reorganization.

Class I consists of the claims of general unsecured creditors in
the Debtor's case totaling approximately $113,780.25.

The amount of the General Unsecured Claim of:

     Wells Fargo Bank, NA. is $18,918.91;
     Luxe Media Group is $5,005.58;
     Bank of America is $18,595.72;
     American Express Bank, FSB is $21,768.25;
     American Express Bank, FSB is $1,037.02;
     Advanta Credit Cards is $15,274.44;
     Capital One Bank (USA), NA is $5,703.79;
     Citi Business Card is $5,857.88;
     Citi Business Card is $11,933.36;
     Home Depot Credit Service is $6,982.25;
     Staples Credit Plan is $2,703.05
     
Class I Claims will be paid on a pro rata basis at confirmation 30%
of their allowed claims.

The plan is to maximize revenue by restructuring the business to
focus primarily on commercial interior design working mainly with
large hotels.  Since the Debtor is no longer primarily reliant on
foot traffic and the cyclical, season dependent aspects of the
business, the resulting income is both higher and steadier.

Alexander Epelbaum as company president, Rostislav Korol as company
vice president, and Alexander Marmut as secretary will be
contributing personal funds toward the purchase of new furniture
stock for the expansion and continued operations of business to
confirm the Debtor's Chapter 11 Plan of Reorganization which
constitutes new value, in order to retain their equity interest in
AKO Interior LLC.

The Plan filed on July 12, 2016, proposed for general unsecured
creditors to get 26.36% to 52.73% of their claims.

The Disclosure Statement dated Aug. 12, 2016, is available at:

           http://bankrupt.com/misc/nyeb15-42216-95.pdf

The Plan was filed by the Debtor's counsel:

     Alla Kachan, Esq.
     Law Offices of Alla Kachan, P.C.
     3099 Coney Island Avenue, 3rd Floor
     Brooklyn, NY 11235
     Tel: (718) 513-3145
     Fax: (347) 342-3156
     E-mail: alla@kachanlaw.com

As reported by the Troubled Company Reporter on Aug 12, 2016,
general unsecured creditors were slated to receive on a pro rata
basis at confirmation 30% of their allowed claims, according to the
sixth iteration of the disclosure statement detailing the company's
Chapter 11 plan of reorganization.  Dividends will be paid in 60
monthly installment payments.

                        About AKO Interior
  
AKO Interior LLC filed a Chapter 11 Petition (Bankr. E.D.N.Y. Case
No. 15-42216) on May 13, 2015, and is represented by Alla Kachan,
Esq. -- alla@kachanlaw.com -- at The Law Offices of Alla Kachan,
P.C.


ALEXANDER PAPAKYRIAKOU: Faces Jail Time for Falsifying Bankr. Docs
------------------------------------------------------------------
An Arizona real estate developer was sentenced to 24 months in
prison for submitting false statements in his bankruptcy petition
with the intent to conceal assets and property transfers from the
bankruptcy trustee.  

Assistant Attorney General Leslie R. Caldwell of the Justice
Department's Criminal Division, U.S. Attorney John S. Leonardo of
the District of Arizona and Acting Inspector in Charge Daniel A.
Adame of the U.S. Postal Inspection Service's (USPIS) Criminal
Investigations Group made the announcement on Aug. 29.

Alexander Papakyriakou, aka Alex Papas, 62, of Phoenix, was
sentenced by U.S. District Court Judge Susan R. Bolton of the
District of Arizona, who will impose restitution at a hearing on
Oct. 21, 2016.  Papakyriakou pleaded guilty on Feb. 9, 2016, to one
count of falsification of records in bankruptcy.

According to admissions made in connection with his plea agreement,
in 2011, Papakyriakou filed a voluntary bankruptcy petition in
which he claimed he had less than $1 million in assets and over
$144 million in liabilities.  In connection with his bankruptcy
petition, Papakyriakou filed a statement of financial affairs
(SFA), a declaration under penalty of perjury, about his assets and
property transfers, which he admitted that he knew contained false
entries and concealed his assets and transfers.

As part of his guilty plea, Papakyriakou admitted that at the time
of the filing of the SFA, he had transferred all of his significant
holdings into the names of other entities while still maintaining
control of those entities by proxies.  According to the plea
agreement, these assets included an approximately $4.995 million
beach house in Laguna Beach, California; a warehouse; several
vintage collector automobiles; and funds from bank accounts.
Papakyriakou further admitted that he filed the falsified SFA with
intent to impede, obstruct or influence an investigation or the
proper administration of his bankruptcy case.

The USPIS Criminal Investigations Group investigated the case.
Trial Attorney Sarah Hall and Senior Litigation Counsel David Bybee
of the Criminal Division's Fraud Section prosecuted the case.
Former Fraud Section Senior Litigation Counsel Jack Patrick
provided substantial assistance.  Assistant U.S. Attorney Raymond
Woo of the District of Arizona also provided assistance in this
matter.


APS-STELLAR VIEW: Hires Ellsworth & Bennion as Attorney
-------------------------------------------------------
Aps-Stellar View, LLC, seeks authority from the U.S. Bankruptcy
Court for the District of Nevada to employ Ellsworth & Bennion,
Chtd. as attorney to the Debtor.

Aps-Stellar requires Ellsworth to:

   a. institute, prosecute or defend any lawsuits, adversary
      proceedings and/or contested matters arising out of the
      bankruptcy proceeding in which the Debtor may be a party;

   b. assist in the recovery and obtain necessary Court approval
      for recovery and liquidation of estate assets, and to
      assist in the protection and preservation of the same where
      necessary;

   c. assist in determining the priorities and status of claims
      and filing objections thereto where necessary;

   d. assist in preparation of a disclosure statement and plan of
      reorganization; and

   e. advise the Debtor and perform all other legal services for
      the Debtor which may become necessary in the bankruptcy
      proceeding.

Ellsworth will be paid legal fees based on per-project pricing.
Prior to the filing of the bankruptcy case, Debtor paid Ellsworth
the amount of $5,000 as initial payment, which will be applied to
initial fees incurred.

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

Keen L. Ellsworth, member of Ellsworth & Bennion, Chtd., 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.

Ellsworth can be reached at:

     Keen L. Ellsworth, Esq.
     ELLSWORTH & BENNION, CHTD.
     777 N Rainbow Blvd., Ste 270
     Las Vegas, NV 89107-1187
     Tel: (702) 767-9987
     Fax: (702) 658-2502
     E-mail: wynter@silverstatelaw.com

                       About Aps-Stellar View

Aps-Stellar View, LLC, filed a Chapter 11 bankruptcy petition
(Bankr. D. Nev. Case No. 16-12756) on May 19, 2016. The Debtor is
represented by Keen L Ellsworth, Esq.

The Debtor's assets and debts are both under $1 million.

No committee has been appointed in the case.


ARMAND EXTERMINATING: Case Summary & 9 Unsecured Creditors
----------------------------------------------------------
Debtor: Armand Exterminating, Inc.
           aka Armand Professional Services, Inc.
        11388 Okeechobee Blvd, Suite B
        Royal Palm Beach, FL 33411-8705

Case No.: 16-21903

Chapter 11 Petition Date: August 29, 2016

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

Judge: Hon. Erik P. Kimball

Debtor's Counsel: Nadine V. White-Boyd, Esq.
                  NADINE WHITE-BOYD
                  5589 Okeechobee Blvd., Suite 103
                  West Palm Beach, FL 33417
                  Tel: 5613516895
                  E-mail: nvwboyd@aol.com

Estimated Assets: $500,000 to $1 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Scott B. Armand, president.

A copy of the Debtor's list of nine unsecured creditors is
available for free at http://bankrupt.com/misc/flsb16-21903.pdf


BARRY CARAVAN: Unsecureds To Get $570 in Monthly Payments
---------------------------------------------------------
Barry J. and Sally A. Caravan filed with the U.S. Bankruptcy Court
for the District of New Hampshire an amended disclosure statement,
dated Aug. 12, 2016, that describes the Plan of Reorganization.

Class 3 - General Unsecured Claims, which total $66,570.92,
include:

        RBS Citizens CC                    $2,441.22
        Ally Financial LLC                 paid off
        Gragil Assoc, Inc. $1,442.00

        Wells Fargo Bank NA
        Re: 48 Laurel St, Newport NH
        Deficiency amount                 $49,360.22

        JP Morgan Chase Bank NA
        Re: 83 West Main St, Bradford NH
        Deficiency amount                 $17,210.70

Class 3 Claims will be paid in full in cash on effective date of
the Plan, while Deficiency claims will be paid monthly over a five
year period.  Total disposable income over a 5-year period is
$34,200.  Class 3 monthly payments will total to be $570, with
$147.36 paid to Wells Fargo and $422.64 paid to JP Morgan Chase
each month for five years.

Payments and distributions under the Plan will be funded by rental
receipts of investment realty owned by Debtor, and the Debtor's
income from employment.  Both sources of income for Debtor are
regular and steady.  The Debtor does not anticipate, at this time,
that either source of income will be materially altered during the
course of the plan.

The Amended Disclosure Statement is available at:

          http://bankrupt.com/misc/nhb14-12055-171.pdf

                 About Barry and Sally Caravan

Barry J. Caravan and Sally A. Caravan are a married couple who have
lived in separate households for 10 years last past.  Since 2003,
the Debtor has been in the business of purchasing, rehabilitating
and renting residential dwelling units.  Since the inception of
this case, the Debtor Barry has also engaged in the business of
plumbing contracting, as an employee of a licensed contractor.
Joint Debtor Sally has been engaged as a day care provider for a
facility.

The Debtor sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. D. N.H. Case No. 14-12055).


BROOKLYN INTERIORS: Can Use Chase's Cash Collateral On Final Basis
------------------------------------------------------------------
Judge Robert D. Drain of the U.S. Bankruptcy Court for the Southern
District of New York authorizes Brooklyn Interiors, Inc. to use
cash collateral on a final basis.

JPMorgan Chase Bank was granted a Replacement Lien, which
specifically excludes any avoidance actions.  

JPMOrgan Chase Bank's Replacement Lien and any administrative
expense for any Diminution claim will be subject and junior to the
Carve Out, which consists of:

     (1) the allowed claims of any trustee and such trustee’s
professionals in the case or if the case is converted to a case
under chapter 7 of the Bankruptcy Code, not to exceed the aggregate
amount of $7,500;

     (2) the allowed administrative expense claims of the
Debtor’s counsel, not to exceed $20,000; and

     (3) the fees of the Office of the U.S. Trustee.

The Debtor was directed to:

     a. pay to JPMorgan Chase Bank the sum of $1,200 per month,
which amount will be applied only to JPMorgan Chase Bank's allowed
secured claim in the case and will be subject to prompt
disgorgement by JPMorgan Chase Bank to the extent that the
aggregate amount of such payments exceeds the amount of JPMorgan
Chase Bank's allowed secured claim in the case;

     b. maintain JPMorgan Chase Bank’s alleged collateral in good
and workmanlike manner; and

     c. maintain hazard, fire, theft, and loss insurance on all of
JPMorgan Chase Bank’s alleged collateral, excluding accounts and
general intangibles, in an amount equal to at least the fair market
value of the collateral and identify JPMorgan Chase Bank as loss
payee, on the condition and to the extent that it has a valid,
perfected and unavoidable lien on such alleged collateral.

A full-text copy of the Final Cash Collateral Order dated August
23, 2016 is available at https://is.gd/MmGyKq


                                About Brooklyn Interiors

Brooklyn Interiors, Inc. filed a Chapter 11 petition (Bankr.
S.D.N.Y. Case No. 1622845), on June 22, 2016.  The Debtor is
represented by Kenneth A. Reynolds, Esq. at McBreen & Kopko.  The
Petition was signed by Dennis Darcy, president.

At the time of filing, the Debtor estimated assets at $100,000 to
$500,000 and  liabilities at $500,000 to $1 million.


BROWNIE'S MARINE: Defaults on Convertible Debentures and Payables
-----------------------------------------------------------------
Brownie's Marine Group, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q for the three
months ended June 30, 2016.

The Company reported a net income of $176,230 on $645,918 of total
net revenues for the three months ended June 30, 2016, compared to
a net income of $60,769 on $711,213 of total net revenues for the
same period last year.

The Company's balance sheet at June 30, 2016, showed $1,073,714 in
total assets, $1,067,771 in total liabilities and total
stockholders' equity of $5,943.

Although profitable for the years ended December 31, 2015 and 2014,
BWMG have otherwise incurred losses since 2009.  BWMG have
predominantly had a working capital deficit since 2009.

The Company is behind on payments due for matured convertible
debentures, related parties notes payable, accrued liabilities and
interest – related parties, and certain vendor payables.  The
Company is handling delinquencies on a case by case basis.
However, there can be no assurance that cooperation the Company has
received thus far will continue.

Because the Company does not expect that existing operational cash
flow will be sufficient to fund presently anticipated operations,
this raises substantial doubt about BWMG's ability to continue as a
going concern within one year from date the financial statements
are issued.  

If BWMG fails to raise additional funds when needed, or does not
have sufficient cash flows from sales, it may be required to scale
back or cease operations, liquidate assets and possibly seek
bankruptcy protection.

A copy of the Form 10-Q is available at:
                              
                       https://is.gd/oLWEGX
                          
Brownie's Marine Group, Inc., designs, tests, manufactures and
distributes recreational hookah diving, yacht based scuba air
compressor and Nitrox Generation Systems, and scuba and water
safety products.  The Company is headquartered in Fort Lauderdale,
Florida.



CANBRIAM ENERGY: S&P Affirms 'B-' LT CCR; Outlook Stable
--------------------------------------------------------
S&P Global Ratings affirmed its 'B-' long-term corporate credit
rating on Calgary, Alta.-based Canbriam Energy Inc.  The outlook is
stable.  At the same time, S&P Global Ratings affirmed its 'B-'
issue-level rating on the company's senior unsecured notes due
2019, and revised its recovery rating on the debt to '3' from '4'.


The '3' recovery rating reflects S&P's view that Canbriam's senior
unsecured noteholders could expect meaningful (50%-70%; higher end
of scale) recovery in our default scenario.

"The significant increase in the company's year-end 2015 proven
reserves has bolstered recovery prospects for its unsecured
lenders," said S&P Global Ratings credit analyst Wendell
Sacramoni.

The ratings on Canbriam reflect S&P's assessment of the company's
small gas-focused reserves and production base, regional focus in
the Altares development area in the Montney play in British
Columbia, negative free cash flow, and weak credit measures.  S&P
believes offsetting these weaknesses are Canbriam's competitive
full-cycle cost profile and its increased production levels.

The vulnerable business risk profile assessment reflects S&P's
opinion of Canbriam's exposure to the highly volatile and
capital-intensive exploration and production industry, relatively
small reserve and production base, and limited geographic
diversity.

S&P assesses Canbriam's financial policy as highly leveraged based
on the company's projected credit measures.  S&P expects Canbriam
to outspend its cash flow in the next 12-18 months.  Although the
company has a significant portion of its annual gas (including
basis differentials) and condensate production hedged, which
reduces significant cash-flow volatility, low production growth and
depressed commodity prices will continue to pressure cash-flow
generation and could lead to volatility in credit measures.

The stable outlook reflects S&P's view that Canbriam's three-year,
weighted-average FFO-to-debt will remain above 12% and
debt-to-EBITDA below 5x during the next 12 months.  S&P also
believes the company has conservatively reduced capital
expenditures to maintain its adequate liquidity assessment in the
near term.

S&P could take a negative rating action if Canbriam's credit
metrics further deteriorate, signaling an unsustainable capital
structure; or if liquidity gets constrained significantly, for
example due to a borrowing base reduction or reduced FFO
generation.

S&P might consider a positive action if Canbriam is able to
complete an IPO, using its proceeds to improve the financial risk
profile significantly.  S&P might also consider a positive action
if the company's business risk profile improves due to Canbriam
increasing its production, reserves, and proved developed ratio
while maintaining a competitive cost structure and adequate
liquidity.



CIVITAS SOLUTIONS: S&P Affirms 'B+' CCR, Outlook Stable
-------------------------------------------------------
S&P Global Ratings affirmed its 'B+' corporate credit rating on
home and community based-health and human services provider Civitas
Solutions Inc. and revised the rating outlook to stable from
positive.

At the same time, S&P affirmed its 'B+' issue-level rating on
Civitas' $120 million revolving credit facility and $640 million
first-lien term loan.  The recovery rating on this debt remains
'3', indicating S&P's expectation for meaningful (50%-70%, at the
higher end of the range) recovery in the event of payment default.

"Our outlook revision to stable from positive is based on our
lowered expectations of Civitas' projected operating performance
relative to our prior 2016 and 2017 fiscal base-case projections,"
said S&P Global Ratings credit analyst James Uko.  S&P's revised
expectations primarily reflect an increase in expected labor
expenses due to a recently finalized federal mandate regarding
overtime labor requirements.  S&P's base-case projection now
reflects its belief that Civitas Solutions will remain more highly
leveraged than S&P's prior expectations.  Specifically S&P now
expects debt to adjusted leverage to remain above 4x and FFO to
debt to remain below 12% through 2018.  S&P expects the company to
continue generating double-digit EBITDA margins and modest free
cash flow.

Civitas' operating performance over the past several quarters has
been weaker than S&P's previous base-case projections due to
increased labor competition, which has led to higher-than-expected
labor and occupancy costs.  In addition to these issues that have
affected the business that serves the intellectual and
developmental disabilities (I/DD) segment in West Virginia, S&P's
revised expectations take into account the impact of the minimum
salary overtime exemption requirement that the Department of Labor
finalized effective for Dec. 1, 2016.  The mandate sets an adjusted
base minimum salary that is required to classify an employee as
exempt from overtime eligibility.  Civitas expects to incur
significant overtime expenses for previously exempt employees, an
increase in salaries, and to make additional hires to minimize the
impact of the mandate.  S&P has adjusted its base-case projections
to incorporate the estimated impact of this mandate.

S&P's stable outlook on Civitas Solutions reflects S&P's view that
the company's recent operating performance and significant labor
cost pressures will result in adjusted leverage above 4x and FFO to
debt below 12% through 2018.  In S&P's view, these measures would
reflect a credit profile more consistent with a 'B+' corporate
credit rating.

S&P could lower the rating if the company's leverage increases
above 5x and FFO to debt declines below 12%.  S&P believes the most
likely path for this scenario to occur is if there is
greater-than-expected weakness in the West Virginia I/DD segment
and a significant increase in labor costs due to increased
competition for labor that would cause EBITDA margin to decline
about 200 basis points.

There are two factors that S&P needs to see as a pathway for an
upgrade.  The first would be a less aggressive financial policy as
would be the case if the financial sponsor relinquishes its
majority stake in the company.  S&P could also consider an upgrade
if it believed the company could improve and sustain margins at
about 200 basis points higher than the current projections,
overcoming significant operating pressure.  The most likely
scenario for the company to achieve this would be through stronger
operating results from the West Virginia I/DD segment and labor
cost controls.  However, given the company's limited pricing
leverage and persistent labor costs pressures, S&P believes an
upgrade is highly unlikely over the next year.


CS MINING: Hires Pepper Hamilton as Bankruptcy Counsel
------------------------------------------------------
CS Mining, LLC, seeks authority from the U.S. Bankruptcy Court for
the District of Utah to employ Pepper Hamilton LLP as counsel to
the Debtor.

CS Mining requires Pepper Hamilton to:

   (a) advise the Debtor with respect to the Bankruptcy Case;

   (b) advise the Debtor with respect to its rights, powers and
       duties as a debtor and debtor-in-possession in the
       continued management and operation of its business and
       properties during the Bankruptcy Case;

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

   (d) advise and consult the Debtor regarding the conduct of the
       case, including potential legal and administrative
       requirements of operating in chapter 11;

   (e) advise the Debtor on matters relating to the evaluation of
the
       assumption, rejection or assignment of unexpired leases
       and executory contracts;

   (f) take all necessary action to protect and preserve the
Debtor's
       estate, including the prosecution of actions on its
       behalf, the defense of any actions commenced against the
       estate, negotiations concerning all litigation in which the
Debtor
       may be involved and object to claims filed
       against the estate;

   (g) advise and consult advice in connection with the Debtor's
       restructuring alternatives and strategies during the
       Bankruptcy Case, including the potential sale of assets
       pursuant to Section 363 of the United States Bankruptcy
       Code;

   (h) advise the Debtor in connection with the restructuring of
the
       company's contingent, disputed and unliquidated creditor
       obligations;

   (i) assist the Debtor to resolve claim disputes, whether
       through alternative, dispute procedures or otherwise;

   (j) appear before the Court, any appellate courts, and the
       Office of the United States Trustee for the District of
       Utah (the "U.S. Trustee"), and protect the interests of the

       Debtor's estate before such courts and the Office of the
       United States Trustee; and

   (k) perform all other necessary legal services and providing
       all other necessary legal advice to the Debtor in connection

       with the bankruptcy case.

Pepper Hamilton will be paid at these hourly rates:

     Francis J. Lawall, Partner            $765
     Donald J. Detweiler, Partner          $705
     Henry Jaffe  Partner,                 $670
     John H. Schanne, II, Associate        $455
     Susan Henry, Senior Paralegal         $265
     Monica Molitor, Senior Paralegal      $275

Pepper Hamilton was first retained by the Debtor on or about May
25, 2016 in connection with a state court receivership action filed
against the Debtor and its majority member Skye Mineral Partners,
LLC, in the Court of Chancery in and for the State of Delaware,
Civil Action No. 12381-VCS (the "Chancery Court Action"). Pepper
Hamilton received a retainer totaling $75,000 for services to be
rendered in connection with the Chancery Court Action. The legal
services provided in the Chancery Court Action included advise to
the Debtor on potential restructuring alternatives. About $56,000
of the $75,000 retainer received by Pepper Hamilton in connection
with the Chancery Court Action was exhausted prior to the
Involuntary Petition Date, and Pepper Hamilton held $19,000 on
retainer at the time of the Involuntary Petition Date.

Pepper Hamilton received $350,000 for work to be provided or
performed on behalf of the Debtor during the Involuntary Gap
Period:

     $250,000 on or about June 25, 2016;
     $75,000 on or about July 29, 2016; and
     $25,000 on or about August 3, 2016.

Pepper Hamilton is holding the $350,000 and $19,000 on retainer,
and the such amounts have yet to be applied by Pepper Hamilton and
remain subject to Court approval for the legal services provided to
the Debtor during the Involuntary Gap Period.

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

Donald J. Detweiler, partner of Pepper Hamilton, 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.

Pepper Hamilton can be reached at:

     Donald J. Detweiler, Esq.
     Francis J. Lawall, Esq.
     John H. Schanne II, Esq.
     PEPPER HAMILTON LLP
     Hercules Plaza, Suite 5100
     1313 N. Market Street
     Wilmington, DE 19899-1709
     Tel: (302) 777-6500
     Fax: (302) 656-8865
     E-mail: detweild@pepperlaw.com
             lawallf@pepperlaw.com
             schannej@pepperlaw.com

                     About CS Mining

CS Mining, LLC, is a mining and processing company headquartered in
Milford, Utah.

Purported creditors R.J. Bayer Professional Geologist, LLC;
Minerals Advisory Group, LLC; Rollins Construction & Trucking, LLC;
Rollins Machine, Inc.; and Oxbow Sulphur, Inc., filed aninvoluntary
petition to put the Company into Chapter 11 bankruptcy (Bankr. D.
Utah Case No. 16-24818) on June 2, 2016. Brahma Group, Inc.
subsequently joined the petition.

Judge William T. Thurman presides over the case.

The Petitioners are represented by Martin J. Brill, Esq., at
Levene, Neale, Bender, Yoo & Brill L.L.P and George B. Hofmann,
Esq., at Cohne Kinghorn PC.

CS Mining tapped Snell & Wilmer L.L.P. as local counsel, and Pepper
Hamilton LLP as its legal counsel, nunc pro tunc to June 2, 2016.
FTI Consulting, Inc. as restructuring advisor.

The U.S. Trustee on August 12 appointed the Official Committee of
Unsecured Creditors.


CS MINING: Hires Snell & Wilmer as Local Bankruptcy Counsel
-----------------------------------------------------------
CS Mining, LLC, seeks authority from the U.S. Bankruptcy Court for
the District of Utah to employ Snell & Wilmer L.L.P. as local
bankruptcy counsel to the Debtor.

CS Mining requires Snell & Wilmer to:

   (a) advise the Debtor with respect to its rights, powers and
       duties as a debtor and debtor-in-possession in the
       continued management and operation of its business and
       properties;

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

   (c) advise and consult the Debtor regarding the conduct of the
       case, including potential legal and administrative
       requirements of operating in chapter 11;

   (d) advise the Debtor on matters relating to the evaluation of
the
       assumption, rejection or assignment of unexpired leases
       and executory contracts;

   (e) take all necessary action to protect and preserve the
Debtor's
       estate, including the prosecution of actions on its
       behalf, the defense of any actions commenced against the
       estate, negotiations concerning all litigation in which
       Debtor may be involved and objections to claims filed
       against the estate;

   (f) appear before the bankruptcy Court, any appellate courts,
and the
       Office of the United States Trustee for the District of
       Utah (the "UST"), and protecting the interests of Debtor's
       estate before such courts and the UST;

   (g) perform all other necessary legal services and providing
       all other necessary legal advice to Debtor in connection
       with the bankruptcy case.

Snell & Wilmer will be paid at these hourly rates:

     David E. Leta, Partner          $560
     Troy J. Aramburu, Partner       $370
     Jeff D. Tuttle, Associate       $270

The Debtor has an unpaid prepetition account balance with Snell &
Wilmer of $6,258.63. To avoid any conflict with the Debtor, Snell &
Wilmer agreed to waive and release the Debtor from any and all
amounts it owed to Snell & Wilmer prior to June 2, 2016.

On June 24, 2016, the Debtor paid S&W an initial retainer of
$150,000.

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

David E. Leta, member of Snell & Wilmer L.L.P., 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.

Snell & Wilmer can be reached at:

     David E. Leta, Esq.
     Troy J. Aramburu, Esq.
     Jeffrey D. Tuttle, Esq.
     SNELL & WILMER L.L.P.
     15 W. South Temple, Suite 1200
     Salt Lake City, UT 84101
     Tel: (801) 257-1900
     Fax: (801) 257-1800
     Email:  dleta@swlaw.com
             taramburu@swlaw.com
             jtuttle@swlaw.com

                     About CS Mining

CS Mining, LLC, is a mining and processing company headquartered in
Milford, Utah.

Purported creditors R.J. Bayer Professional Geologist, LLC;
Minerals Advisory Group, LLC; Rollins Construction & Trucking, LLC;
Rollins Machine, Inc.; and Oxbow Sulphur, Inc., filed aninvoluntary
petition to put the Company into Chapter 11 bankruptcy (Bankr. D.
Utah Case No. 16-24818) on June 2, 2016. Brahma Group, Inc.
subsequently joined the petition.

Judge William T. Thurman presides over the case.

The Petitioners are represented by Martin J. Brill, Esq., at
Levene, Neale, Bender, Yoo & Brill L.L.P and George B. Hofmann,
Esq., at Cohne Kinghorn PC.

CS Mining tapped Snell & Wilmer L.L.P. as local counsel, and Pepper
Hamilton LLP as its legal counsel, nunc pro tunc to June 2, 2016.
FTI Consulting, Inc. as restructuring advisor.

The U.S. Trustee on August 12 appointed an Official Committee of
Unsecured Creditors.



DEL RESTAURANT: Wants to Use Cash Based on Amended Budget
---------------------------------------------------------
Robert J. Spence, Esq., at Spence Law Office, P.C., submitted to
the U.S. Bankruptcy Court for the Eastern District of New York, a
Supplemental Affirmation in support of Del Restaurant Corp. d/b/a
Lenny's Pizza's application for the use of cash collateral.

Mr. Spence asks the Court to authorize the Debtor's use of cash
collateral on a final basis in accordance with an amended Budget.

Mr. Spence relates that during the Sec. 341 meeting of creditors,
the Debtor's principal, Leonard Lubrano, identified three items
that were inadvertently omitted from the Debtor's application to
use cash collateral:

     (a) A monthly payment for the health insurance of Mr. Lubrano
and his wife, at the rate of $1,100 per month;

     (b) Mr. Lubrano's monthly automotive expense in the amount of
$389.07; and     

     (c) A monthly draw of up to $3,200, in addition to Mr.
Lubrano's weekly salary of $400, in the event the cash is
available.

The amounts for the health insurance and the automotive expense
were included in the Debtor's amended Budget.  The Budget provides
for total monthly expenses in the amount of $34,889 and total
weekly expenses in the amount of $8,330.

Mr. Spence tells the Court that The draw payment to Mr. Lubrano is
consistent with the Debtor's past compensation and practice.  He
further tells the Court that Mr. Lubrano is receiving a salary of
$20,800 and a draw of between $36,000 and $40,000.

Mr. Spence contends that Mr. Lubrano works seven days a week as the
head chef of Lenny's Pizza.  He further contends that at $56,000 to
$60,000 per year gross compensation, Mr. Lubrano is being
compensated at or below compensation to similarly situated chefs.

A full-text copy of Robert J. Spence's Supplemental Affirmation,
dated Aug. 24, 2016, is available at https://is.gd/G9vMEE

A full-text copy of the amended Budget, dated Aug. 24, 2016, is
available at https://is.gd/zc0vwQ

                      About Del Restaurant Corp.

Del Restaurant Corp., doing business as Lenny's Pizza, filed a
chapter 11 petition (Bankr. E.D.N.Y. Case No. 16-72807) on June 24,
2016.  The petition was signed by Leonard Lubrano, president.
Robert J. Spence, Esq., at Spence Law Office, P.C., serves as the
Debtor's bankruptcy counsel.  The Debtor estimated assets at $0 to
$50,000 and liabilities at $100,001 to $500,000.


DESERT SPRINGS: Wants Plan Filing Period Extended to October 15
---------------------------------------------------------------
Desert Springs Financial, LLC, asks the U.S. Bankruptcy Court for
the Central District of California to extend its deadline for the
filing of its disclosure statement and plan, and to extend the
automatic stay to at least October 15, 2016.

The Debtor currently has until August 31, 2016, to file a
disclosure statement and plan.

The Debtor relates that it has been prevented from making monthly
payments from rents generated from the property to the secured
creditor, Pacific Premier Bank, because judgment creditors, Ramon
Palm Lane, Inc., and Yun Hei Shin, in violation of the automatic
stay, fail and refuse to pay rent.  The Debtor further relates that
the rent is its primary income and that if the rent is paid, it can
meet its monthly obligations and reorganize.

The Debtor tells the Court that until the matter is resolved, the
Debtor will be unable to proceed with reorganization and cannot
assert that a plan as contemplated has a reasonable possibility of
being confirmed because if the tenants are allowed to continue to
not pay rent, reorganization, other than by sale of assets and/or
refinancing, will fail.  The Debtor further tells the Court that it
is requesting the extension in order to obtain additional time to
resolve the issue.

           About Desert Springs Financial

Desert Springs Financial LLC filed a chapter 11 petition (Bankr.
N.D. Cal. Case No. 16-14859) on May 30, 2016.  The single asset
real estate debtor is represented by Wayne M. Tucker, Esq., at
Orrock Popka Fortino Tucker & Dolen in Redlands, Calif.  At the
time of the filing, the Debtor disclosed $16.75 million in assets
and $7.33 million in liabilities.


DIMMIT CORN: Judgment Awarding Atty's Fees to Corn Mill Reversed
----------------------------------------------------------------
In the case captioned EXPELLED GRAIN PRODUCTS, LLC AND SCOTT
THEIRING, Appellants, v. CORN MILL ENTERPRISES, LLC, Appellee, No.
07-14-00398-CV (Tex. App.), the Court of Appeals of Texas, Seventh
District, Amarillo, affirmed in part and reversed and remanded, in
part, the trial court's judgment entered in favor of Corn Mill
Enterprises, LLC, in a declaratory judgment and breach of contract
cause of action.

The appellants, Expelled Grain Products, LLC, and Scott Theiring,
asserted that the trial court erred by (1) and (2) granting summary
judgment declaring that a contractual agreement existed between
Expelled Grain and Corn Mill regarding the parties' interests in
Dimmit Corn Mill, LLC (DCM), (3) granting summary judgment when
there was a triable issue of fact concerning whether Expelled
Grain's option to purchase Corn Mill's interest in DCM had expired,
(4) rendering final judgment in Corn Mill's favor when the jury's
answer to Question Number Three was ambiguous, (5) excluding much
of Expelled Grain's evidence in support of its response to Corn
Mill's motion for summary judgment, (6) accepting the jury's answer
to Question Number Three when the answer was ambiguous, (7)
allowing Steve Dawson, a fact witness, to testify as an expert at
trial, (8) directing a verdict against Expelled Grain on its
counterclaims for breach of contract, fraud, and declaratory
judgment, (9) failing to submit Expelled Grain's affirmative
defenses of estoppel, promissory estoppel, and prior breach to the
jury, (10) awarding attorney's fees to Corn Mill when it failed to
carry its burden of proof, and (11) granting judgment based upon
legally and factually insufficient evidence.  By two additional
issues, Theiring asserted the trial court erred by (1) striking his
Original Petition in Intervention and (2) finding he did not have a
justiciable interest regarding his right to approve the agreement
at issue.

Corn Mill, Expelled Grain, and Chad Smith were the initial members
of DCM, a Texas limited liability company.  In late 2012 and early
2013, disagreements arose between Corn Mill and Expelled Grain
regarding the governance of DCM and the respective duties of the
parties to one another.  In February 2013, Expelled Grain placed
DCM in a Chapter 11 bankruptcy proceeding.  As a part of the
bankruptcy proceedings, the parties agreed to mediate their
disputes.  In April 2013, Corn Mill and Expelled Grain engaged in
mediation hoping to resolve their differences.  After negotiating
over the course of three days through their respective counsel, the
parties reached a tentative settlement agreement, and on or about
April 19, 2013, they executed a document referred to as the Final
Term Sheet.

In November 2013, Corn Mill filed its original petition for
declaratory judgment and breach of contract, and in February 2014,
filed its Traditional Motion for Partial Summary Judgment.  In
March 2014, Theiring, as a member of Expelled Grain, filed his
Original Petition in Intervention alleging the Term Sheet was not a
valid contract.  Theiring sought the recovery of money paid to Corn
Mill by Expelled Grain.  Also in March, Expelled Grain filed a
counterclaim against Corn Mill alleging claims for declaratory
relief, promissory estoppel, and other actions, thereby seeking
$500,000 in reliance damages.  Corn Mill moved to strike Theiring's
petition alleging he lacked standing to bring Expelled Grain's
claims, and on May 21, 2014, the trial court issued its order
striking Theiring's petition.

In July 2014, the trial court conducted a three-day jury trial on
the remaining issues.  At the conclusion of that trial, the jury
returned a verdict in Corn Mill's favor finding Expelled Grain's
Reimbursement Obligation under the Term Sheet was $7,146,837.61 and
that Expelled Grain had not reimbursed Corn Mill any amount toward
that obligation.  Thereafter, on August 5, 2014, the trial court
entered its Final Judgment reaffirming its earlier order declaring
the Term Sheet to be a valid and enforceable agreement and
declaring Expelled Grain's ownership interest in DCM was reduced to
0.00%.

In addition, Corn Mill was awarded $33,500 actual damages for its
breach of contract claim, $75,000 in attorney's fees through trial,
$10,000 in attorney's fees in the event of an appeal to this court,
and $10,000 in the event of an appeal to the Texas Supreme Court.
This appeal followed.

The appellate court reversed the trial court's judgment as to the
award of attorney's fees and remanded to the trial court for a
redetermination of attorney's fees.  In all other respects, the
appellate court affirmed the trial court's judgment.

With respect to the issue on the award of attorney's fees, the
appellate court held that in this case, Corn Mill was clearly using
the lodestar method to prove its claim for attorney's fees.
Because the Texas Supreme Court has made it clear that a party
choosing the lodestar method of proving attorney's fees under
section 38.001 of the Texas Civil Practice and Remedies Code must
provide sufficient evidence to satisfy the requirements of El
Apple, the appellate court concluded that the evidence presented in
this case is factually insufficient to support the amount of
attorney's fees awarded because the evidence presented does not
provide sufficient information for a meaningful review of the
lodestar calculation.  Accordingly, the appellate court sustained
issue ten.  As directed by the Texas Supreme Court under these
circumstances, the appellate court reversed the judgment of the
trial court as to the issue of attorney's fees and remand the
matter to the trial court for a redetermination of those fees
consistent with this opinion.

A full-text copy of the appellate court's August 17, 2016
memorandum opinion is available at https://is.gd/utNWG6 from
Leagle.com.

Expelled Grain Products, LLC is represented by:

          Larry A. Vick, Esq.
          10497 Town & Country Way, Suite 700
          Houston, TX 77024
          Tel: (409)795-7960

Corn Mill Enterprises, LLC is represented by:

          Matt W. Sherwood, Esq.
          701 S. Taylor, Suite 440
          Amarillo, TX 79101
          Tel: (806)358-8116

Scott Theiring is represented by:

          George F. May, Esq.
          900 Third Avenue
          New York, NY 10022
          Tel: (212)508-6700
          Email: dupont@thsh.com

                     About Dimmitt Corn Mill

Dimmit, Texas-based Dimmitt Corn Mill, LLC, filed a Chapter 11
petition (Bankr. N.D. Tex. Case No. 13-20055) in Amarillo, Texas,
on Feb. 15, 2013.  The Debtor disclosed $50,619,013 in assets and
$16,521,464 in liabilities as of the Chapter 11 filing.  David R.
Langston, Esq., at Mullin, Hoard & Brown, in Lubbock, Texas,
serves as counsel.  The petition was signed by Richard Bell as
president.  Judge Robert L. Jones presides over the case.


DOMINION STEEL: Wants to Use Crestmark Bank Cash, Get DIP Loan
--------------------------------------------------------------
Dominion Steel Specialists, Inc., asks the U.S. Bankruptcy Court
for the Southern District of Texas for authorization to use
Crestmark Bank's cash collateral and obtain postpetition secured
credit.

The Debtor is indebted to Crestmark Bank in the amount of $891,729
as of the Petition Date.  The indebtedness is secured by all the
Debtor's assets.

The Debtor relates that its tangible and intangible assets,
including funds derived from the operation of its business, are
subject to Crestmark Bank's lien and are Crestmark Bank's cash
collateral.  The Debtor further relates that the assets comprising
the cash collateral are its sole source of funds to continue to
operate its business.

The Debtor tells the Court that Crestmark Bank has agreed to the
Debtor's use of cash collateral and has likewise agreed to provide
post-petition financing to the Debtor.

The Debtor contends that it requires the use of the cash collateral
and funds generated from its operations, as well as the DIP
financing, to continue to operate its business, to maintain a going
concern value of the business, and to ensure that adequate funds
are available for normal and customary business expenses and
operating needs including utilities, maintenance, insurance,
payroll, inventory purchases, and taxes.

The Debtor wants to continue its existing line of credit with
Crestmark Bank, under the terms of their prepetition loan
documents.

The Debtor's proposed monthly interim Budget provides for expenses
such as payroll, inventory, utilities, and rent, among others.

The Debtor proposes to grant Crestmark Bank with a replacement lien
on the Debtor's personal property, and all proceeds, rants or
profits thereof, including all of the pre-petition cash collateral
and any unused or unearned retainers, deposits, or prepaid items,
and a lien on all the Debtor's real property, subject to existing,
valid prior liens.

The Debtor further proposes to continue making regular payments
under the current terms of its loan agreement with Crestmark Bank
as further adequate protection.

A full-text copy of the Debtor's Motion, dated Aug. 24, 2016, is
available at https://is.gd/aVY4HK

A full-text copy of the Debtor's proposed Budget, dated Aug., 24,
2016, is available at https://is.gd/9hoHN5

                    About Dominion Steel Specialists

Dominion Steel Specialists, Inc. filed a chapter 11 petition
(Bankr. S.D. Tex. Case no. 16-34107) on August 18, 2016.  The
petition was signed by Robert R. Comeaux, Jr., president.  The case
is assigned to Judge David R. Jones.  The Debtor is represented by
Kimberly Anne Bartley, Esq., at Waldron & Schneider, L.L.P.  The
Debtor disclosed total assets at $3.39 million and total
liabilities at $3.09 million.



DREAMWORKS ANIMATION: Fitch Withdraws BB+ Rating on Sr. Facility
----------------------------------------------------------------
Fitch Ratings has upgraded DreamWorks Animation SKG, Inc.'s (DWA)
Issuer Default Rating (IDR) to 'A-' from 'B+', removed the rating
from Positive Rating Watch, and assigned a Stable Outlook.  Fitch
also upgraded the rating on DreamWorks' senior unsecured notes to
'A-' from 'B+/RR4' and withdrew the 'BB+/RR1' rating on its senior
secured credit facility.

Comcast Corporation (Comcast) closed on its $3.8 billion
acquisition of DWA on Aug. 22, 2016, at which time it became a
wholly-owned subsidiary of Comcast.  DWA is now part of
NBCUniversal's Universal Filmed Entertainment Group, which includes
Universal Studios and NBCUniversal Brand Development. NBCUniversal
is a division of Comcast.

DWA's credit facility was repaid and terminated at closing,
resulting in the withdrawal of the senior secured rating.  DWA is
also expected to redeem its $300 million, 6.875% senior notes due
Aug. 15, 2020, on Sept. 21, 2016, at a redemption price of 105.156%
plus accrued and unpaid interest.  Comcast will indirectly fund the
redemption using cash on hand, including proceeds from bonds issued
in July 2016 in part to fund DWA's acquisition.  Once the notes
have been redeemed, Fitch will withdraw DWA's IDR and senior
unsecured ratings.

                         KEY RATING DRIVERS

Fitch links the IDRs of Comcast and DreamWorks in accordance with
our assessment of the parent subsidiary linkage between the two
entities.  While no cross defaults or cross guarantees exist
between the entities, Fitch believes DreamWorks' probability of
default would be overstated if it did not consider Comcast's
businesses and credit profile and potential downstream cash flows.
Comcast's key rating drivers include consistent capital structure
and allocation policies, significant financial flexibility, leading
market positions, operating and geographic diversification, and
evolving competitive environment.

                         KEY ASSUMPTIONS

While Comcast's services are maturing, Cable revenue is expected to
grow in the low- to mid-single digits and margins compress due to
increased programming costs.  Capital intensity is expected to
remain relatively consistent with no change expected in the
company's financial policy or capital allocation strategy.  For
DreamWorks, Fitch expects film segment stabilization due to a
revised film mix and cost reduction efforts, higher working capital
needs to fund increased content requirements (primarily to
Netflix), and continued growth in its TV and New Media and Other
segments due to favorable secular trends.

                        RATING SENSITIVITIES

Note: Comcast's sensitivities are listed due to the linkage of
Comcast's and DreamWorks' IDRs:

A positive rating action would likely coincide with Comcast
committing to and achieving a financial policy consistent with an
'A' rating, including maintaining its leverage below 1.5x on a
sustained basis.  Comcast would need to demonstrate that its
operating profile will not materially decline in the face of
competition.

Negative rating actions would likely coincide with discretionary
actions of Comcast's management including, but not limited to,
adopting a more aggressive financial strategy or event-driven
merger and acquisition activity that drive leverage beyond 2.5x in
the absence of a credible deleveraging plan.

                             LIQUIDITY

Comcast's liquidity position and overall financial flexibility are
strong based on Fitch's expectation that the company will continue
to generate material amounts of free cash flow.

FULL LIST OF RATING ACTIONS

Fitch upgraded these ratings

DreamWorks Animation SKG, Inc.
   -- IDR to 'A-' from 'B+';
   -- Senior unsecured notes to 'A-'from 'B+/RR4'.

Fitch withdrew the senior secured credit facility rating of
'BB+/RR1'.



ELK CREEK: Authorized to Use Cash Collateral on Interim Basis
-------------------------------------------------------------
Judge Laura T. Beyer of the U.S. Bankruptcy Court for the Western
District of North Carolina authorized Elk Creek International,
Inc., to use cash collateral on an interim basis.

Judge Beyer acknowledged that the Debtor has immediate cash needs
in order to meet payroll, to pay other customary and necessary day
to day expenses to operate its business and to prevent immediate
and irreparable harm to the estate.

The approved Budget covered the months of August 2016 to October
2016.  The Budget provided for total expenses in the amount of
$141,315 for the month of August; $127,158 for the month of
September; and $126,044 for the month of October.

The Debtor alleged that Yadkin Bank and Export-Import Bank of the
United States may assert a perfected security interest in the
Debtor's cash collateral.

Yadkin Bank and Export-Import Bank were granted, among others,
adequate protection in the form of replacement liens upon all the
Debtor's postpetition assets of the same character and type, to the
same extent and validity, as the liens and encumbrances that the
secured creditors attached to the Debtor's assets post-petition.

The Debtor was directed to maintain accounts receivable in the
minimum amount of $10,000.

A full-text copy of the Order, dated Aug. 24, 2016, is available at
https://is.gd/IMDL5J

                 About Elk Creek International, Inc.

Elk Creek International, Inc., fdba Elk Creek Lumber Inc., fdba Elk
Creek Properties, LLC, sought protection under Chapter 11 (Bankr.
W.D.N.C. Case No. 16-50423) on July 5, 2016.  The petition was
signed by David M. Blair, president.  The Debtor is represented by
James H. Henderson, Esq., at The Henderson Law Firm.  The case is
assigned to Judge Laura T. Beyer.  The Debtor estimated assets of
$0 to $50,000 and debts of $1 million to $10 million at the time of
the filing.



ENERGY FUTURE: Balks at City of Dallas' $16.2M Claim
----------------------------------------------------
Martin O'Sullivan, writing for Bankruptcy Law360, reported that
Energy Future Holdings Corp. is asking a Delaware bankruptcy court
to reject a $16.2 million claim by the city of Dallas against an
EFH unit, Luminant Generation Co. LLC, for future rent for an
untreated water purchase contract.  EFH argued the claim had been
incorrectly calculated; Dallas used the incorrect water rate in its
request for unpaid future rent on a water rights lease with
Luminant.  The claim should be slashed to $5.9 million, EFH said.

                        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.

                          *     *     *

In December 2015, the Bankruptcy Court confirmed the Debtors'
Sixth
Amended Joint Plan of Reorganization.  In May 2016, certain first
lien creditors of TCEH delivered a Plan Support Termination Notice
to the Debtors and the other parties to the Plan Support
Agreement,
notifying the parties of the occurrence of a Plan Support
Termination Event. The delivery of the Plan Support Termination
Notice caused the Confirmed Plan to become null and void.

Following the occurrence of the Plan Support Termination Event as
well as the termination of a roughly $20 billion deal to sell the
Debtors' stake in Oncor Electric Delivery Co., the Debtors filed
the Plan of Reorganization and the Disclosure Statement with the
Bankruptcy Court on May 1, 2016. On May 11, they filed an amended
joint plan of reorganization and a related disclosure statement.

In June 2016, Judge Sontchi approved the disclosure statement
explaining Energy Future Holdings Corp., et al.'s second amended
joint plan of reorganization of the TCEH Debtors and the EFH
Shared Services Debtors.

On Aug. 27, Judge Sontchi confirmed the Chapter 11 exit plans of
two of EFH subsidiaries, power generator Luminant and retail
electricity provider TXU Energy Inc.  According to a Wall Street
Journal report, the Court's approval wraps up the first phase of
the $42 billion bankruptcy case of Energy Future.  The plan
confirmed on Aug. 27 launches a new company containing Luminant and
TXU Energy, the two main operating businesses owned by Energy
Future.  Luminant and TXU Energy will be taken over by senior
lenders, including affiliates of Apollo Global Management,
Brookfield Asset Management, and Oaktree Capital Management.

Phase two involves Energy Future's other main division, which owns
80% of Oncor, an electricity transmissions business that is
operating free of Energy Future's bankruptcy.  EFH is seeking Court
approval to sell its stake in the Oncor transmission business to
NextEra Energy.  The deal is valued at about $18.4 billion.  The
Wall Street Journal reported that NextEra is proposing to pay $9.5
billion for Energy Future's 80% stake in Oncor, paying off
bankruptcy financing and leaving funds and stock for creditors.


ENERGY TRANSFER: Fitch Affirms 'BB' Rating on Jr. Sub. Notes
------------------------------------------------------------
Fitch Ratings has assigned an 'F3' rating to Energy Transfer
Partners, LP (ETP) $3.75 billion commercial paper (CP) program. The
program is backstopped by the partnership's $3.75 billion revolving
credit facility (RCF) which matures in 2019.  The CP will rank pari
passu with the partnership's senior unsecured debt. In addition,
Fitch assigns an 'F3' Short-Term Issuer Default Rating (IDR) to
ETP.  Fitch has also affirmed these existing ratings:

Energy Transfer Partners, LP
   -- Long-Term IDR at 'BBB-';
   -- Senior unsecured rating at 'BBB-';
   -- Junior subordinated notes at 'BB'.

The Rating Outlook is Stable.

The affirmation of ETP's rating and Outlook reflects the size and
scale of ETP's operations which offer both business line diversity
and geographic diversity, with operations spanning most major
domestic production basins.  The affirmation recognizes that ETP's
earnings and cash flow should be relatively stable near term even
with continued price weakness, driven by an expected 90% of 2016
gross margin derived from fixed-fee contracts.  Counterparty
exposure remains a concern with continued bankruptcies within the
upstream space expected near term but Fitch expects ETP's
counterparty portfolio to remain heavily weighted toward
investment-grade counterparties.

ETP's adjusted leverage is currently high, ending 2015 at roughly
5.3x based on Fitch's calculations.  Fitch calculates ETP's
adjusted debt/EBTIDA on a consolidated basis inclusive of Sunoco
Logistics Partners, LP (SXL; 'BBB'/Stable Outlook) and cash
distributions from unconsolidated affiliates.  Fitch expects
consolidated adjusted leverage in 2016 to improve slightly but
remain high at roughly 5x at year-end 2016 improving to below 5x in
2017 and beyond.

ETP's capital spending budget remains relatively robust, but the
partnership has taken steps to raise needed funding and improve its
balance sheet through alternative means, including the recent
non-recourse project financing and sale of a portion of its Bakken
Pipeline project.  The announced additional waiver of $720 million
in incentive distributions rights by ETP's owner and general
partner, Energy Transfer Equity, LP (ETE; IDR: 'BB'/Stable Outlook)
should help ETP retain cash for its funding needs.  Along with
previous waivers that ETE had provided ETP, the incentive
distribution waivers will provide over $1.1 billion in retained
cash that otherwise would have been available for distributions.
Fitch expects that these recent steps will help ETP improve
leverage.

Other considerations include ETP's structural subordination to
subsidiary debt and uncertainties resulting from potential future
structural changes.  The potential effect on pipeline system
utilization and related re-contracting risk resulting from changing
natural gas supply demand dynamics are longer-term concerns.

                        KEY RATING DRIVERS

Large Diversified Asset Base: ETP's geographic and business line
diversity provide a solid operating asset base and what has been a
decent platform for growth within most of the major U.S. production
regions.  Currently the partnership and its subsidiaries (including
SXL) own and operate roughly 62,500 miles of natural gas, crude and
natural gas liquids (NGL) pipelines, 65 processing plants, treating
plants and fractionators, significant compression, and large-scale,
underground liquid and natural gas storage.  EBITDA is pretty
evenly earned between ETP's various business lines approximately as
follows: Interstate Pipelines 20% of EBITDA (at Dec. 31, 2015,);
Intrastate Pipelines 10%; Midstream 23%; Liquids transport &
Services 11%; Crude Oil/Refined Products (SXL) 18%: Retail
Marketing 13% (Sunoco LP) and Other (a variety of other business
segments but primarily a 33% ownership in PES, a refinery JV with
Carlyle group) at 5%.

While commodity price exposure and counterparty risks are
relatively limited, some of ETP's businesses are subject to both
counterparty and volumetric risks, namely the midstream business.
The midstream segment is focused on gathering, compression,
treating, blending, and processing.  It is geographically located
in the Austin Chalk trend and Eagle Ford Shale in South and
Southeast Texas, the Permian Basin in West Texas and New Mexico,
the Barnett Shale and Woodford Shale in North Texas, the Bossier
Sands in East Texas, the Marcellus Shale in West Virginia and
Pennsylvania, and the Haynesville Shale in East Texas and
Louisiana.  With low commodity prices, production will be
challenged in several of these regions, but the geographic
diversity should help.  The potential effect on pipeline system
utilization and related re-contracting risk resulting from changing
natural gas supply dynamics is a longer term concern.

Relatively Stable, Consistent Cash Flows: As ETP has grown its
large asset base the percentage of gross margin supported by
fee-based contracts has gradually increased, with the partnership
moving from roughly 76% either fee-based or hedged for 2015 (71%
fee/5% hedged) up to 90% expected for in 2016, due in part to new
projects coming online with heavy fee-based components.
Counterparty exposure is significantly weighted toward
investment-grade names, with roughly 88% of ETP's counterparties
investment-grade.  No single customer accounts for more than 10% of
revenue, and its top 20 customers which account for approximately
46% of a total $1.4 billion in unsecured exposure is rated 'BBB' or
better with only $28 million in exposure 'BB+' or lower.

Moderate Financial Flexibility: ETP has largely met all of its
capital needs for 2016 for all of its expected capital spending
(including distributions and growth spending).  The incentive
distribution waivers provided to ETP from ETE will provide retained
cash to help fund its capital program.  Additionally the sale of a
portion of its interest in the Bakken projects and the non-recourse
project funding has helped to raise capital for ETP's project
backlog in a relatively benign way to ETP's balance sheet.  
High Leverage; Adequate Distribution Coverage: ETP leverage is
currently high, with YE2015 leverage on a consolidated basis of
roughly 5.3x (inclusive of distributions from non-consolidated
joint ventures) and roughly 5.1x on a last 12 month basis as of
June 30, 2016.  Fitch expects 2016 leverage on a consolidated basis
of roughly 5.0x improving modestly to between 4.75x and 4.9x
annually through 2019.  Management remains committed to an
investment-grade profile, and expects leverage as per their
revolver covenant calculation of 4.2x for 2016 (given a material
project adjustment to EBITDA of approximately $650 million).
Leverage at ETP was high for 2015 in part due to falling commodity
prices, but also due in part to the merger ETP completed with its
affiliate company Regency Energy Partners, LP (RGP) in April 2015.
Distribution coverage is expected to be roughly 1x for 2016
improving to above 1x assuming flat distributions for 2016 and
2017.

                         KEY ASSUMPTIONS

   -- Growth spending consistent with current management guidance.

   -- Growth projects completed on time at an average 8.0x EBITDA
      multiple.
   -- Growth spending declining in 2017-2019. Proceeds from debt
      and equity issuances will be used to fund spending in a
      balanced manner to protect the balance sheet.
   -- Flat distribution in 2016 with slight to moderate
      distribution growth in outer years.

                         RATING SENSITIVITIES

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

   -- A material improvement in credit metrics with ETP adjusted
      leverage sustained at below 4x on a consolidated basis.

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

   -- Weakening credit metrics with adjusted leverage above 5x on
      a sustained basis would likely lead to a downgrade to 'BB+';

      Fitch expects adjusted leverage for 2016 to be at or
      slightly above 5x, but improve to below 5x in 2017 and
      beyond;

   -- Continued distribution coverage below 1.0x.  Fitch expects
      2016 distribution coverage to be at or slightly below 1x
      improving to above 1.0x in 2017 and beyond;

   -- Increasing commodity exposure above 30% could lead to a
      negative rating action if leverage were not appropriately
      decreased to account for increased earnings and cash flow
      volatility.

                             LIQUIDITY

Liquidity Adequate: ETP has access to a $3.75 billion secured
five-year RCF that matures in November 2019 which will back the CP
program.  As of June 30, 2016, ETP had roughly $2.6 billion in
availability under its revolver.  The credit facility contains a
financial covenant that provides that on each date ETP makes a
distribution, the leverage ratio, as defined in the credit
agreement, shall not exceed 5x, with a permitted increase to 5.5x
during a specified acquisition period, as defined in the credit
agreement.  ETP is currently in compliance with this covenant.  As
per the covenant EBITDA definition, ETP is permitted a material
project adjustment which adds back incremental EBITDA for projects
currently under construction.  This gives ETP a fair amount of
headroom with regard to its leverage covenant.  ETP was well within
covenant compliance for 2015 and its management expects the
calculation of the covenant to remain well below 4.5x for the
balance of 2016.

FULL LIST OF RATING ACTIONS

Fitch has assigned these ratings:

Energy Transfer Partners, LP
   -- Short-term IDR: 'F3';
   -- Commercial Paper: 'F3'.

Fitch has affirmed these ratings:

Energy Transfer Partners, LP
   -- Long-Term IDR at 'BBB-';
   -- Senior unsecured rating at 'BBB-';
   -- Junior subordinated notes at 'BB'.

The Rating Outlook is Stable.


ESSAR STEEL: Names David Pauker as Chief Restructuring Officer
--------------------------------------------------------------
Essar Steel Minnesota LLC and ESML Holdings Inc. seek authorization
from the U.S. Bankruptcy Court for the District of Delaware to
employ David Pauker as their chief restructuring officer, nunc pro
tunc to August 1, 2016.

Mr. Pauker will be responsible for the day-to-day management of the
Debtor's restructuring process, including matters related to
creditor negotiations, oversight of outside professionals,
formulation of restructuring strategies including, but not limited
to prosecution and implementation of a plan of reorganization and
such other matters as are ordinary and customary for the
involvement of a CRO for a company of comparable size in comparable
circumstances.

Pursuant to the terms set forth in the Engagement Letter, Mr.
Pauker will be paid:

   (a) Base Fee.  The Debtors shall pay Pauker a base fee of
       $85,000 per month, to be paid in advance of the first day
       of each month during which the Agreement is in effect.  Mr.

       Pauker is entitled to a minimum Base Fee of $300,000, which

       shall be deemed earned upon Court approval of the
       Agreement.  If the Agreement terminates before the
       aggregate Base Fee paid to Mr. Pauker totals $300,000, the
       Debtor shall pay Mr. Pauker on the termination date the
       difference between the aggregate Base Fee paid and the
       Minimum Fee.

   (b) Expense Reimbursement.  The Debtor shall reimburse Mr.
       Pauker for all out-of-pocket expenses incurred by him in
       the performance of his duties. On the approval of this
       Agreement, the Debtor shall deposit and maintain with Mr.
       Pauker $10,000 as a retainer against expenses to be
       incurred by him, which Mr. Pauker may use to reimburse his
       expenses ten days after submission to the Debtor of a
       report identifying the expenses for which reimbursement is
       sought. The Debtor will replenish such retainer from time-
       to-time upon request by Mr. Pauker. In addition, the Debtor

       shall pay to Mr. Pauker within ten days of demand the
       actual attorney's fees and costs incurred by him in the
       negotiation, documentation, approval or enforcement of this

       Agreement.

   (c) Additional Fees.  On the Effective Date of a Restructuring,

       the Debtor shall pay Mr. Pauker a fee of $1,000,000.  In
       addition to the Base Restructuring fee, the Debtor may pay
       Mr. Pauker an additional fee -- Contingent Restructuring
       Fee -- in an amount to be determined by the Restructuring
       Committee in its sole discretion based upon Mr. Pauker's
       performance during the term of this Agreement.

Mr. Pauker 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.

Mr. Pauker was employed for 25 years by Goldin Associates, a
nationally recognized
turnaround management and restructuring advisory firm, where he was
for many years the firm's Executive Managing Director and headed
its national restructuring and turnaround advisory practice. He was
CRO during the bankruptcy of Refco, one of the largest bankruptcies
in U.S. history, has acted as CRO, CEO, or turnaround manager for
numerous additional companies, including: Young Broadcasting,
Vlasic Foods/Swanson Frozen Foods, Pharmacy Fund, Grand Court
Lifestyles, PSINet Consulting, Monarch Capital, First Interregional
Advisors and Tuttle Papock.

The Bankruptcy Court will hold a hearing on the application on
September 20, 2016, at 11:30 a.m.  Objections, if any, were due
August 23, 2016.

Mr. Pauker can be reached at:

       David Pauker
       333 Central Park West
       New York, NY

                         About ESML Holdings

ESML Holdings Inc. and Essar Steel Minnesota LLC sought protection
under Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Lead Case
No. 16-11626) on July 8, 2016.  The petition was signed by Madhu
Vuppuluri, president and chief executive officer.  

The cases are assigned to Judge Brendan Linehan Shannon.  The
Debtors tapped Fox Rothschild LLP as local counsel, and Guggenheim
Securities, Inc. as investment banker.

At the time of the filing, ESML Holdings estimated its assets at $1
billion to $10 billion and debts at $500 million to $1 billion.
Essar Steel estimated its assets and debts at $1 billion to $10
billion.


FIELDWOOD ENERGY: Moody's Assigns B2 Rating on $387.6MM Facility
----------------------------------------------------------------
Moody's Investors Service assigned a B2 rating to Fieldwood Energy,
LLC's $387.6 million first-lien reserve based term loan (RBTL)
facility and a Caa1 rating to its $517.5 million first-lien
last-out (FLLO) term loan facility.  Fieldwood's other ratings and
stable outlook were unchanged.

The RBTL and the FLLO facilities were issued on May 27, 2016 as a
part of a debt exchange, and Moody's upgraded Fieldwood's Corporate
Family Rating (CFR) to Caa2 reflecting the new capital structure as
discussed in our press release dated June 7, 2016.

Issuer: Fieldwood Energy LLC

Ratings Assigned:
  $387.6 million First Lien Senior Secured Term Loan, Assigned B2
   (LGD2)
  $517.5 million First Lien Last Out Senior Secured Term Loan,
   Assigned Caa1 (LGD3)

                       RATINGS RATIONALE

The $387.6 million RBTL facility and the existing $755 million
first-lien term loan rank pari passu and are rated B2, three
notches above the CFR, because they have a priority claim to
Fieldwood's assets and they benefit from the significant loss
absorption cushion provided by the combined FLLO and the
second-lien term loan facilities.  Moody's believes that the B2
rating more appropriately captures the recovery potential for the
first-lien facilities rather than the B1 indication from Moody's
Loss Given Default Methodology.  The $517.5 million FLLO facility
is rated Caa1 to reflect its preferential position in the capital
structure relative to the second-lien term loan.  The $1.63 billion
second-lien term loan is rated Caa3 and notched below the CFR
because of its junior claim position behind all the other debts in
a potential default situation.

Fieldwood's Caa2 CFR reflects its unsustainably high debt burden in
relation to its cash flow potential in a low commodity price
environment, weak liquidity including limited cash balance and no
revolver, large debt-like plugging & abandonment (P&A) obligations
that demands significant recurring cash outlays, exposure to
elevated event risks due to its concentration in the US Gulf of
Mexico, and heavy reinvestment requirements to extend a short
reserve life.  The rating is supported by Fieldwood's large
oil-weighted (~60% liquids) production base, high proportion of
proved developed (PD) and behind-pipe reserves that can be brought
to production at fairly low costs, and routine practice of hedging
a significant portion of its production.  The Caa2 CFR also
reflects the company's private ownership and limited operational
and financial disclosures.

The stable outlook reflects Moody's view that Fieldwood will
continue to manage its business within operating cash flow.  The
CFR could be downgraded if the EBITDAX to Interest coverage ratio
falls below 1.5x or liquidity weakens.  For an upgrade, Moody's
will look for significant debt reduction, improved liquidity and a
sustainable RCF/Debt ratio above 20%.

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

Fieldwood Energy LLC is a Houston, Texas based private oil and gas
exploration and production company owned by Riverstone Holdings LLC
and its primary producing assets are located on the US Gulf of
Mexico shelf.



FILTRATION GROUP: Moody's Puts B2 CFR Under Review for Downgrade
----------------------------------------------------------------
Moody's Investors Service placed its ratings for Filtration Group
Corporation's under review for downgrade, including the B2
Corporate Family Rating (CFR), B2-PD Probability of Default Rating
(PDR), B2 (LGD3) 1st Lien Term Loan and Revolving Facilities, and
Caa1 (LGD6) 2nd Lien Term Loan.

                         RATINGS RATIONALE

The review follows Filtration Group's agreement to purchase the
Porous Technologies business from Essentra plc for GBP220 million
(approximately $290 million).  This represents the second
meaningfully-sized acquisition announced this month by the company,
which said it would purchase MAHLE GmbH's Industrial Filtration
unit on Aug. 7, 2016.

The review will focus on the sources of financing for these
acquisitions, Filtration Group's overall liquidity, and concerns
related the company's rapid growth through acquisitions.  Moody's
anticipates the transactions to be financed with debt, which will
raise leverage to around seven times debt to EBITDA, which is high
relative to our expectations at the B2 rating level.  Given that
Filtration Group intends to fund some of the purchases with cash
and $75 million revolver, liquidity will likely weaken.  As well,
with these transactions the company will have acquired 19 companies
since 2009, bringing total revenues to an estimated
$1.2 billion from $20 million in that time frame, which raises
integration concerns.

These ratings were placed on review for downgrade with the outlook
changed to rating under review from stable:

Issuer: Filtration Group Corporation
  Corporate Family Rating at B2
  Probability of Default Rating at B2-PD
  1st Lien Revolving Facility at B2(LGD3)
  1st Lien Term Loan at B2(LGD3)
  2nd Lien Term Loan at Caa1(LGD6)

Filtration Group Corporation is a diverse filtration company with
manufacturing and marketing operations on five continents,
excluding South America.  The company is an affiliate of Madison
Industries.

The principal methodology used in these ratings was Global
Manufacturing Companies published in July 2014.



FLEXI-VAN LEASING: S&P Revises Outlook on 'BB-' CCR to Negative
---------------------------------------------------------------
S&P Global Ratings said that it has revised the outlook on its
'BB-' corporate credit rating on Flexi-Van Leasing Inc. to negative
from stable.

At the same time, S&P affirmed its 'BB-' corporate credit rating on
the company and S&P's 'B+' issue-level rating on Flexi-Van's senior
unsecured notes.  The '5' recovery rating on the notes remains
unchanged, indicating S&P's expectation for modest recovery
(10%-30%; upper half of the range) in the event of default.

"The outlook revision on Flexi-Van reflects the company's weakened
credit metrics, primarily because of softer demand and lower
utilization," said S&P Global credit analyst Jeff Ward.  "We expect
these trends to continue over the next year, with the company's
funds from operations (FFO)-to-debt ratio remaining around 8%
through 2016."

The negative outlook incorporates S&P's expectation that
Flexi-Van's operating performance will remain under pressure from
weak demand and decreased utilization, causing its credit metrics
to weaken through 2016 (FFO to debt averaging around 8%).  S&P
assumes the company will not undertake any significant
debt-financed dividends over the next 12 months.

S&P could lower its rating on Flexi-Van during the next year if the
company experiences continued pricing pressure and reduced
utilization rates resulting in a decrease in earnings and
FFO-to-total debt ratio is consistently below 9% for a sustained
period. S&P could also lower the rating if the company pays a
significant debt-financed dividend to its owner.

S&P could revise its outlook to stable if the company's FFO-to-debt
ratio increases to above 10% on a sustained basis, potentially
because of better-than-expected earnings or reduced debt.  S&P
would also need to see a shift in Flexi-Van's very aggressive
financial policies and large advances to its owner, and to believe
that shift will be sustained in the long term.

   -- S&P has completed a review of the recovery analysis and
      affirmed its issue-level ratings on the company's senior
      unsecured notes due 2018.

   -- S&P has assumed the notes it refinanced on a similar basis
      prior to their maturity in 2018 and that the company
      defaults in 2020 due to a decline in volumes and pricing
      from increased competition in the sector.  S&P has valued
      the company on a discrete-asset going-concern basis,
      assuming a valuation below net book value that incorporates
      administrative expenses in 2020 and the limited market for
      these assets.

   -- Simulated year of default: 2020

   -- Net enterprise value (after 0% administrative costs):

   -- $247 million

   -- Valuation split (obligors/nonobligors): 100%/0%

   -- Value available to first-lien debt claims
      collateral/noncollateral): $247 million/$0

   -- Secured first-lien debt claims: $172 million

   -- Recovery expectations: N/A

   -- Total value available to unsecured claims: $75 million

   -- Senior unsecured debt/pari passu unsecured claims:
      $275 million/$13 million

   -- Recovery expectations: 10%-30% (upper half of the range)

N/A--Not applicable.  
Note: All debt amounts include six months of prepetition interest.
Collateral value equals asset pledge from obligors after priority
claims plus equity pledge from nonobligors after nonobligor debt.



FLOUR CITY BAGELS: Has Until October 14 to File Plan
----------------------------------------------------
Judge Paul R. Warren of the U.S. Bankruptcy Court for the Western
District of New York extended Flour City Bagels, LLC's exclusive
periods to file a plan of reorganization and disclosure statement
and solicit acceptances to the plan, to October 14, 2016, and
December 15, 2016, respectively.

The Debtor had previously asked the Court to extend its exclusive
periods to file and solicit acceptances of its chapter 11 plan to
December 28, 2016 and February 26, 2017, respectively, contending
that it sought the extensions to avoid the necessity of having to
formulate a chapter 11 plan prematurely and to ensure that its
chapter 11 plan best addresses the interests of the Debtor, its
creditors and estate.

               About Flour City Bagels

Headquartered in Fairport, New York, Flour City Bagels, LLC,
operates 32 bakeries that serve "New York Style" bagels, coffee,
drinks, soups, salads, sandwiches, fresh fruit, and a variety of
other related items.  In 1993, it opened its commissary in
Rochester, at which it produces bagels for sale at all of its 32
bakeries.  It employs 425 people.

Flour City Bagels sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. W.D.N.Y. Case No. 16-20213) on March 2,
2016, estimating both assets and debt in the range of $10 million
to $50 million.  Kevin Coyne, the manager, signed the petition.

Judge Paul R. Warren is assigned to the case.

The Debtor is represented by Stephen A. Donato, Esq., and Camille
W. Hill, Esq., at Bond, Schoeneck & King, PLLC, and Harry W.
Greenfield, Esq., Jeffrey Toole, Esq., and Heather E. Heberlein,
Esq., at Buckley King.

The Official Committee of Unsecured Creditors of Flour City Bagels,
LLC, retained Kane Russell Coleman & Logan PC as counsel, Gordorn &
Schaal, LLP as local counsel, and Corporate Recovery Associates,
LLC, as business and financial advisor for the Committee.


FOCUS LEARNING: Fitch Lowers Rating on $9MM Revenue Bonds to 'CCC'
------------------------------------------------------------------
Fitch Ratings has downgraded to 'CCC' from 'B' approximately
$9 million of education revenue bonds series 2011A&B issued by the
Beasley Higher Education Finance Corporation on behalf of FOCUS
Learning Academy, TX (Focus).

The bonds are removed from Rating Watch Negative.

                            SECURITY

The revenue bonds are secured by a pledge of Focus' gross revenues,
a cash-funded debt service reserve and a mortgage on property and
facilities.

                         KEY RATING DRIVERS

HEIGHTENED CHARTER REVOCATION RISK: The downgrade is driven by
Focus' three consecutive years of state academic designations of
'Improvement Required' (IR).  This status significantly increases
charter revocation risk, which Fitch would expect to result in
closure of the school and default on the bonds.  Under state law,
the authorizer has no option but to revoke a charter if the IR
designation is made for three consecutive years.  The school is in
the process of appealing its 2015/2016 academic status, the third
such successive designation.  The school is expected to operate
during the 2016/2017 academic year, during the appeal process.
Revocation risk outweighs all other credit factors at this time.

GROWING BUT CHALLENGED ENROLLMENT: Focus grew enrollment 22% in
fall 2015, to around 1,149 students.  Focus' enrollment also grew
in fall 2014, and challenged facility capacity.  New students that
were not included in the 2014/2015 IR state accountability rating
will be included in the 2015/2016 state rating, potentially
increasing academic challenges.  Enrollment for fall 2016 is
projected to be similar to fall 2015.

FINANCIAL METRICS STABLE: Fiscal 2015 financial operations
generated break-even operations, resulting in bond debt service
coverage of 1.6x.  When lease debt service is included, coverage is
slimmer at 1.1x.  Balance sheet metrics remain stable but very
slim.  Nine-month interim results for the fiscal year ending
Aug. 31, 2016, indicate operations will be similar to fiscal 2015.


GOVERNANCE LACKS INDEPENDENCE: There has historically been overlap
between Focus' board of directors and day to day administration,
thereby weakening the independent oversight mechanism.  Several key
management personnel stepped down from board positions in calendar
2015, but retain prior management roles at the school.

                        RATING SENSITIVITIES

CHARTER REVOCATION RISK: Should Focus Learning Academy's appeal of
its 2015/2016 academic performance not succeed, and thereby trigger
charter revocation by the state, the rating will be further
downgraded to reflect the expectation of bond default. Should the
appeal be granted, and other credit factors remain positive, there
may be upward rating potential.

STANDARD SECTOR CONCERNS: A modest financial cushion, substantial
reliance on state per pupil funding, and charter renewal risk are
credit concerns common in all charter school transactions that, if
pressured, could impact the rating.

                          CREDIT PROFILE

Located in Dallas, TX, Focus is a K-12 charter school that received
its first charter in 1998 and started with an initial enrollment of
177 students in grades K-6.  The current charter extends to 2023.

Focus ended fiscal 2016 with 1,089 students, up from 941 students
at the end of 2015, and 844 at 2014.  Much of this increase came
from mid-year transfers (about 57 high school students) from an
area charter school that closed.  However, management reports that
these transfers resulted in significant administrative and academic
stress during the 2014/2015 academic year.  Enrollment is projected
for fall 2016 at 1,050.

Due to fall 2015 enrollment increases, Focus entered into an
$830,000 capital lease in June 2015 to provide 12 classrooms with
three modular/temporary buildings.  Those buildings were completed
in early 2016.

                       CHARTER REVOCATION RISK

The Texas Education Agency (TEA) assigned Focus an IR
accountability rating for three consecutive years, academic years
2013/2014, 2014/2015, and 2015/2016.  Under state law, the state
must revoke a charter if, for three consecutive years either the IR
designation is made or a charter does not meet financial standards.


School management plans to appeal the 2015/2016 academic
designation, and operate during the 2016/2017 academic year while
the appeal is processed.  TEA, Focus' authorizer, did not grant the
school's appeal of its 2014/2015 academic year designation. Fitch's
rating downgrades are driven by Focus' third consecutive IR
academic year designation, and heightened uncertainty regarding the
charter status after the 2016/2017 academic year.

If the IR academic status for the 2015/2016 academic year is
sustained through the appeal process, TEA is required under state
law to revoke Focus' charter.  Fitch understands that the Texas
charter law is very prescriptive with little administrative
flexibility, and the outcome of the appeal process remains
uncertain.  Fitch expects Focus to operate during the 2016/2017
academic year, during the appeal process.  Fitch understands that
TEA could, but typically does not revoke a charter during an
academic year.



FTS INTERNATIONAL: Moody's Lowers CFR to Caa3; Outlook Negative
---------------------------------------------------------------
Moody's Investors Service downgraded FTS International Inc.'s
(FTSI) Corporate Family Rating to Caa3 from Caa1, Probability of
Default Rating (PDR) to Caa3-PD/LD from Caa1-PD and the ratings on
its existing debt.  The Speculative Grade Liquidity Rating was
changed to SGL-3 from SGL-2, and will be withdrawn.  The outlook is
negative.

Moody's appended the PDR with a "/LD" designation, indicating
limited default, following the repurchase of a portion of the
principal of its term loan and secured notes at a steep discount to
par through a tender offer and open market purchases.  FTSI
repurchased a total of $90.7 million principal amount of debt at an
average price of 43% of par.  Moody's considers FTSI's repurchases
as a distressed exchange, which is a default under Moody's
definition.  The "/LD" designation will be removed after three
business days.

"The downgrade of FTS International's CFR to Caa3 reflects
continued poor industry conditions and uncertainty over whether
EBITDA margins will recover sufficiently in 2017-2018 to support
its large interest expense burden," said James Wilkins, Moody's
Vice President -- Senior Analyst.

This summarizes the ratings:

Issuer: FTS International Inc.
Ratings Downgraded:

  Probability of Default Rating, Downgraded to Caa3-PD/LD from
   Caa1-PD
  Corporate Family Rating, Downgraded to Caa3 from Caa1
  Senior Secured Notes due 2020, Downgraded to B3 (LGD2) from B1
   (LGD2)
  Senior Secured Term Loan due 2021, Downgraded to Ca (LGD4) from
   Caa2 (LGD4)
  Senior Secured Notes due 2022, Downgraded to Ca (LGD4) from Caa2

   (LGD4)

Outlook Actions:
  Outlook, Changed to Negative from Stable

Ratings changed:

  Speculative Grade Liquidity Rating, SGL-3 from SGL-2*
  * The Speculative Grade Liquidity Rating will be withdrawn.

                         RATINGS RATIONALE

FTSI's Caa3 CFR reflects its high leverage and Moody's expectation
that depressed demand for FTSI's services will result in the
company continuing to generate negative free cash flow through
2017.  The company generated EBITDA of negative $9 million
(including Moody's analytical adjustments) and $47 million negative
free cash flow in the first half 2016, resulting in weak leverage
and interest coverage metrics.  The industry's overcapacity and
lackluster demand has resulted in continued weakness in prices for
hydraulic fracturing services.  The US land drilling rig count has
increased from the low levels seen in the second quarter 2016 and
providers of pressure pumping services expect to achieve modest
pricing improvements in the second half 2016.  However, Moody's
believes the potential near-term improvement in prices and activity
levels will not result in meaningful positive free cash flow
generation for the company, given its high leverage and industry
overcapacity.

FTSI remains highly levered with $1.2 billion of balance sheet
debt, on which it pays approximately $90 million in annual interest
expense, after it repurchased $91 million of outstanding bonds in
the third quarter 2016.  The company is faced with the issue of
reducing debt such that it can operate in a lower profit margin
environment.  Asset sales and the dramatic cost cutting achieved
over the past 18 months has lessened the decline in cash balances,
but has not resulted in debt reduction.  Its interest coverage
ratio was less than 1x for each quarter in 2015 and the first half
of 2016.  A modest improvement in profit margins may not be
sufficient for FTSI to cover its interest expense and allow it to
generate meaningful free cash flow and pay down debt.

FTSI has adequate liquidity through 2017, supported by ample cash
balances, which stood at approximately $225 million as of June 30,
2016, pro forma for closing of the notes tender offer and
subsequent open market purchases of debt.  Under the current
business conditions, Moody's expects FTSI will use in excess of
$100 million of cash per year to sustain its operations.  To date,
the company has sold surplus equipment and non-core assets, but
further opportunities to monetize assets are not expected to be
material to the liquidity.  As fleet utilization rates remain low,
FTSI has been able to drop its capital spending requirements.  The
company does not maintain a revolving credit facility and there are
no maintenance financial covenants under its term loan.  The
company benefits from having no near-term debt maturities; the next
maturity is the $350 million of secured notes which are due in June
2020.

The negative outlook reflects the continued softness in drilling
activity and uncertainty around the timing or magnitude of recovery
in demand for FTSI's services.  The ratings could be downgraded if
liquidity weakens materially.  While unlikely, the ratings could be
upgraded should interest coverage remain above 1x on a sustained
basis, balance sheet debt is reduced and the company has adequate
liquidity.

The principal methodology used in these ratings was Global Oilfield
Services Industry Rating Methodology published in December 2014.

FTS International Inc., through its wholly-owned subsidiary, FTS
International Services, LLC (FTSI Services), provides oil and
natural gas well stimulation products and services (with a focus on
high-pressure hydraulic fracturing) to exploration and production
(E&P) companies.  FTSI is 70% owned by a subsidiary of Temasek
Holdings (Private), Limited (Aaa stable), Senja Capital Ltd and
other investors (Investor Group) with the remaining 30% owned by
Chesapeake Energy Corporation (Caa2 positive).



GIBSON ENERGY: S&P Revises Outlook to Neg. & Affirms 'BB' CCR
-------------------------------------------------------------
S&P Global Ratings said it revised its outlook on Gibson Energy ULC
to negative from stable.  At the same time, S&P Global Ratings
affirmed its 'BB' long-term corporate credit and senior unsecured
debt ratings on the company.  The '4' recovery rating on the debt
is unchanged, and indicates that lenders can expect average (30% to
50%; upper half of the range) recovery if a default occurs.

"We base the outlook revision on Gibson lower-than-expected revenue
growth in the wake of the low oil prices," said S&P Global Ratings
credit analyst Gerry Hannochko.  Our forecast financial metrics are
now lower, with funds from operations (FFO)-to-debt remaining at
17%-20% and debt-to-EBITDA near the 4.0x mark over the next two
years.  Weaker EBITDA generation and a continued large capital
program to expand its terminal and pipeline segment have led to the
deterioration.  "However, as projects come into service, we expect
some strengthening in the business risk profile, from contracted,
stable take-or-pay cash flows," Mr. Hannochko added.

"We assess Gibson's business risk profile as fair, based on the
company's mix of midstream businesses and the higher-risk oilfield
services businesses, and the contractual profiles of these
segments.  Earlier this year, Gibson changed its external segment
reporting and realigned its management structure to gain
efficiencies and cost savings.  Competitive pressures and economic
conditions have continued to affect the company's various segments,
including logistics (truck transportation and environmental
services segments) and wholesale business (natural gas liquids and
propane marketing and distribution).  The wholesale segment's
profitability is not as stable because it largely depends on highly
volatile and unpredictable crude differentials.  In our view,
Gibson's integrated business model is a strength that allows
opportunities to cross-sell and improve margins across its
segments.  We expect contractedness within the terminals and
pipelines segment to improve as the new projects increase the
proportion of take-or-pay EBITDA. Increase in fee-for-service
arrangements reduces commodity exposures and the improving
contractual profiles with investment-grade counterparties helps
reduce counterparty risk," S&P said.

"We continue to assess Gibson's financial risk profile as
significant, with the leverage at the higher end of our category.
We forecast FFO-to-debt to remain in the 17%-20% range over the
next two years, while debt-to-EBITDA should remain just under 4.0x.
We expect the company's dividend policy as a proportion of
discretionary cash flow to be consistent.  Earlier this year,
Gibson issued about C$230 million of equity and C$100 million of
convertible debenture to fund its ongoing capital expenditure
program.  As per our criteria, we treat the debentures as full
debt, further pressurizing financial metrics.  Although we expect
capital expenditures to be high in the near term, most projects
have medium-term contracted and fee-for-service revenue streams,
moderating overall cash flow volatility and supporting an improving
business risk profile," S&P noted.

The negative outlook reflects S&P's view that weaker contributions
from the logistics and wholesale segments and continued high
capital expenditures to complete terminal and pipeline projects
will continue to stretch financial metrics over our 18-month
outlook horizon.  S&P forecasts debt-to-EBITDA to average above
3.75x in the next 24 months.  Offsetting the weaker forecasts is
the announcement of the potential sale of the industrial propane
business, which if used to finance capital programs, could result
in debt-to-EBITDA being lower than 3.5x.

S&P could revise the outlook to stable if financial metrics improve
to and remain under 3.5x debt-to-EBITDA, which could occur with
improvements in EBITDA generation or, more likely, deleveraging
from the completed sale of the industrial propane business.

A downgrade could occur if debt-to-EBITDA stays above 3.5x.



GOODMAN AND DOMINGUEZ: Wants Sept. 21 Extension of Plan Filing Date
-------------------------------------------------------------------
Goodman and Dominguez, Inc., d/b/a Traffic, and its affiliated
debtors, ask the U.S. Bankruptcy Court for the Southern District of
Florida to extend their exclusive periods to file a plan of
reorganization and solicit acceptances to the plan to September 21,
2016, and November 21, 2016, respectively.

The Debtors assert that they and their estates would be prejudiced
if the Exclusivity Period and Acceptance Period are allowed to
expire.  They relate that they have successfully negotiated
settlements and lease modifications which will provide them with
significant savings and improved cash flow, and which will greatly
aid them in their operations and reorganization efforts.

The Debtors tell the Court that they intend to assume almost all of
the remaining leases and lease modifications in conjunction with
the confirmation of a plan of reorganization to ensure the maximum
benefit to the Debtors reorganization and maximum amount available
to creditors.  They further tell the Court that termination of
exclusivity and the possibility of the filing of third-party plans
will only make the effort for a consensual plan of reorganization
more difficult.

          About Goodman and Dominguez

Goodman and Dominguez, Inc. -- dba Traffic, Traffic Shoe, Goodman &
Dominguez, Inc., Traffic Shoes, and Traffic Shoe, Inc. -- is a
retailer headquartered in Medley, Florida.  It operates 83 stores
in malls across nine states and Puerto Rico.  It also sells its
teen fashion products at http://www.trafficshoe.com/

Goodman and Dominguez, Inc, et al., filed Chapter 11 petitions
(Bankr. S.D. Fla. Case No. 16-10056) on Jan. 4, 2016.  Judge Robert
A Mark presides over the case.  Lawyers at Meland Russin & Budwick,
P.A., represent the Debtors.

In its petition, Goodman and Dominguez estimated $1 million to $10
million in both assets and liabilities.  The petition was signed by
David Goodman, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/flsb16-10056.pdf


GRYPHON GOLD: WGV to Auction Borealis Shares on September 16
------------------------------------------------------------
Secured creditor Waterton Global Venture LP will sell 3,600,000
Class A Units of Borealis Mining Company LLC, represented by share
certificate No. A-11 dated July 3, 2013, and representing a 36%
ownership in the company, to the highest bidder in a public sale to
take place on Sept. 16, 2016, at 10:00 a.m. (Local Time) at Davis
Graham & Stubbs LLP, 50 West Liberty Street, Suite 950, Reno,
Nevada.

The current owner of the Borealis collateral is Gryphon Gold
Corporation that pledged the Borealis collateral to secured a loan.


All bidders must be pre-qualify at least seven days in advance of
the sale as to their bona fide interest by submitting a written
expression of interest, which will be identify the purchaser
together with evidence of sufficiency of funds to immediately
consummate the sale, and a deposit of $1 million.

The terms of sale will be cash, cashier's check or wire transfer of
immediately available U.S. Funds.

Additional information, including a copy of the notice of
disposition, and other information regarding the sale process and
bidding procedures are available by contacting:

   Laura Granier, Esq.
   Davis Graham & Stubbs LLP
   counsel for secured party
   50 West Liberty Street, Suite 950
   Reno, Nevada, 89591
   Tel: 1-775-229-4219

Borealis Mining Company LLC is owned pursuant to an amended and
restated limited liability company agreement dated as of Jan. 30,
2013, as the foregoing has been amended or modified, and a buyer of
the Borealis collateral would be subject to the agreement.

Gryphon Gold Corporation, headquartered in Carson City, Nevada,
holds a 40% joint venture interest in the gold producing Borealis
Property through its 40% ownership of Borealis Mining Company LLC,
which is located in Nevada's Walker Lane Gold Belt.  In addition,
the Company explores and develops gold properties primarily in
Nevada.

Gryphon Gold filed for Chapter 11 protection (Bankr. D. Nev. Case
No. 13-51496) on July 29, 2013, and is represented by Stephen R.
Harris of Harris Law Practice.

Gryphon Gold estimated both assets and debts between $10 million
and $50 million.


HALCON RESOURCES: SEC Balks at Liability Releases in Exit Plan
--------------------------------------------------------------
Jonathan Randles, writing for Bankruptcy Law360, reported that the
U.S. Securities and Exchange Commission is challenging liability
releases Halcon Resources Corp. intends to include for various
lenders and noteholders in its plan for restructuring more than $3
billion in debt.  The SEC filed a limited objection challenging the
releases in Halcon's proposed Chapter 11 plan of reorganization.
In a Delaware court filing on Aug. 29, the Commission said the oil
driller hasn't properly sought permission from its creditors and
shareholders for the relief it seeks.

Kurt Orzeck, writing for Bankruptcy Law360, reported that the
Company's prepackaged Chapter 11 restructuring plan, designed to
eliminate roughly $1.8 billion in debt, came under fire in Delaware
bankruptcy court on Aug. 29.  The bankruptcy court approved the
Company's restructuring support agreement on Aug. 26. On Monday,
the Internal Revenue Service claimed the Company didn't file its
2015 tax return.  It urged the Court to deny confirmation of the
Chapter 11 plan.

As reported by the Troubled Company Reporter on Aug. 17, 2016,
Halcon Resources Corporation, et al., filed with the U.S.
Bankruptcy Court for the District of Delaware a disclosure
statement to the joint prepackaged plan of reorganization dated
June 20, 2016, which proposes that holders Class 8 General
Unsecured Claims recover 100%.

On and after the Effective Date, the Debtors or Reorganized
Debtors, as applicable, will continue to pay or dispute each
general unsecured claim in the ordinary course of business as if
the Chapter 11 cases had never been commenced; provided, however,
that if the unsecured note claims class is a rejecting class then
the distributions to be received by the General Unsecured Claims
will be modified so as to comply with Section 1129(b) of the U.S.
Bankruptcy Code, subject to the consenting third lien noteholders'
rights under Section 9 of the Restructuring Support Agreement.

At the option of the Debtors, any cash payment to be made under
the
Plan may be made by a check or wire transfer or as otherwise
required or provided in applicable agreements.

To address their working capital needs and fund their
reorganization efforts, the Debtors require the use of cash
subject
to liens granted in favor of the holders of the revolving credit
agreement lenders, the second lien noteholders and the third lien
noteholders, pursuant to the guarantee and collateral agreement,
the second lien security agreement and the third lien security
agreement.  On the Petition Date, the Debtors intend to seek
authority from the Bankruptcy Court to continue to use the Cash
Collateral in the ordinary course of business subject to certain
restrictions.  The Debtors may elect to seek funding for the
Chapter 11 cases by means of DIP Financing, which may include a
roll-up of some or all of the revolving credit facility.

The Disclosure Statement is available at:

           http://bankrupt.com/misc/deb16-11724-17.pdf

                     About Halcon Resources

Halcon Resources Corporation is an independent energy company
engaged in the acquisition, production, exploration and
development
of onshore oil and natural gas properties in the United States.

Halcon Resources and 21 of its subsidiaries each filed a voluntary
petition under Chapter 11 of the Bankruptcy Code (Bankr. D. Del.
Case Nos. 16-11724 through 16-11745) on July 27, 2016.  The
petitions were signed by Stephen W. Herod as president.  The
Debtors listed assets of $2.84 billion and debts of $3.14 billion
as of March 31, 2016.

The Debtors have hired Young Conaway Stargatt & Taylor, LLP and
Weil, Gotshal & Manges LLP as co-counsel; PJT Partners LP as
investment banker; Alvarez & Marsal North America, LLC as
restructuring advisor; and Epiq Bankruptcy Solutions, LLC as
claims, noticing and solicitation agent.


HEBREW HEALTH: Has Until Sept. 9 to Use Cash Collateral
-------------------------------------------------------
Judge Ann M. Nevins of the U.S. Bankruptcy Court for the District
of Connecticut authorized Hebrew Health Care, Inc., and its
affiliated debtors to use cash collateral through Sept. 9, 2016.

Judge Nevins authorized the Debtors to use accounts receivable
which constitute the cash collateral of their secured creditors on
a revolving basis.  

The approved Budget covered the period beginning with the week
beginning Aug. 20, 2016 and ending with the week beginning Dec. 31,
2016.  The Budget provided for total cash disbursements in the
amount of $17.9 million.

The Debtors were directed to provide their secured creditors with
liens upon post-petition assets to the extent that they held a
valid lien as of the Petition Date.

The Debtors previously asked the Court for authorization to use
cash collateral in the amount of $3,340,890 during the period
ending Sept. 10, 2016, in order to operate and to preserve its
going concern value, as well as avoid immediate and irreparable
harm.

The Debtors contended that Wells Fargo Bank, National Association,
TD Banknorth, National Association, and the U.S. Department of
Housing and Urban Development have or may claim an interest in cash
collateral generated by the Debtors' business.

A final hearing on the Debtors' Motion is scheduled on Sept. 7,
2016 at 10:00 a.m.
  
A full-text copy of the Debtors' Motion, dated Aug. 24, 2016, is
available at https://is.gd/3PjGAQ

A full-text copy of the Order, dated Aug. 24, 2016, is available at
https://is.gd/0218M7

                          About Hebrew Health Care

Hebrew Health Care, Inc., Hebrew Life Choices, Inc., Hebrew
Community Services, Inc., and Hebrew Home and Hospital,
Incorporated filed chapter 11 petitions (Bankr. D. Conn. Case Nos.
16-21311, 16-21312, 16-21313, and 16-21314, respectively) on Aug.
15, 2016.  The petitions were signed by Bonnie Gauthier, CEO.
Their cases are assigned to Judge Ann M. Nevins.

The Debtors are represented by Elizabeth J. Austin, Esq., at
Pullman and Comley, LLC.

At the time of the filing, Hebrew Health Care, Inc. estimated
assets at $1 million to $10 million and liabilities at $100,000 to
$500,000; Hebrew Life Choices, Inc. estimated assets at $10 million
to $50 million and liabilities at $10 million to $50 million;
Hebrew Community Services, Inc. estimated assets at $500,000 to $1
million and liabilities at $100,000 to $500,000; and Hebrew Home
and Hospital estimated assets at $1 million to $10 million and
liabilities at $10 million to $50 million.



HHH CHOICES: Court Approves Sale of HHSH Assets to Bethel
---------------------------------------------------------
Judge Michael E. Wiles of the United States approved the sale of
substantially all of the assets of the debtor, Hebrew Hospital
Senior Housing, Inc., to Bethel Methodist Home, Inc., or its
designee.

HHSH and the Official Committee of Unsecured Creditors sought
approval of the sale of substantially all of the HHSH's assets, but
had differing views as to what should be done.  HHSH favored a sale
to Bethel Methodist Home, or its designee.  The Committee favored a
sale to GF Westchester Holdings, LLC, or its assignee.

Judge Wiles found that the Bethel proposal was more consistent with
the mission of the company.  The judge also believed that the
current residents' interests are better served by the Bethel
proposal.

Bethel proposed to continue HHSH's continuing care retirement
community and the care facilities, not merely to compensate some of
the residents for the effects of losing those facilities.  Having a
care facility in the same community, near to the residents' homes
and friends, was part of the original stated mission of HHSH.
Under the Bethel proposal, that facility would continue for the
benefit of current residents, and the facility would continue to be
marketed in that same way to new residents, which is more
consistent with the original mission.

A full-text copy of Judge Wile's August 22, 2016 bench decision is
available at http://bankrupt.com/misc/nysb15-11158-359.pdf  

                      About HHH Entities

Three alleged creditors owed about $1.9 million submitted an
involuntary Chapter 11 petition for HHH Choices Health Plan, LLC
on May 4, 2015 (Bankr. S.D.N.Y. Case No. 15-11158) in Manhattan.

The petitioners are The Royal Care, Inc., (allegedly owed
$772,762), Amazing Home Care Services ($1,178,752), and InterGen
Health LLC ($42,298), all claiming that they are owed by the
Debtor for certain services rendered.  They all tapped Marc A.
Pergament, Esq., at Weinberg, Gross & Pergament, LLP, in Garden
City, New York, as counsel.

With the consent from the board of directors, HHH Choices filed a
notice of consent to order for relief on June 1, 2015, and an
order for relief was entered on June 22, 2015.  HHH Choices was
engaged in operating a managed long-term care program ("MLTCP").
HHH Choices, which essentially was a health insurance maintenance
plan, sold its business in 2015.

On Dec. 9, 2015, Hebrew Hospital Senior Housing, Inc., commenced a
Chapter 11 case (Bankr. S.D.N.Y. Case No. 15-13264).  HHSH is
engaged in the sponsorship and operation of a 120-unit continuing
care retirement community ("CCRC") with ancillary components
consisting of; a 20 bed skilled nursing facility ("SNF"), which
includes an adult day healthcare program ("ADHCP"), and a 10-bed
enriched housing unit. These programs are commonly known as,
Westchester Meadows and Fieldstone.

On Jan. 8, 2016, Hebrew Hospital Home of Westchester, Inc.
commenced a Chapter 11 Case (Case No. 16-10028).  HHHW's
predecessor, Hebrew Hospital Home, Inc. owned and operated a
480-bed skilled nursing facility located in the Bronx.  In 1998,
HHHW opened a new 160-bed facility situated at 61 Grasslands Road,
Valhalla, New York.  HHHW sold the Bronx SNF in 2007 and the
Westchester SNF in mid-2015.  HHHW no longer has any active
business operations.  However, it still has responsibilities to
wind-up its affairs, including finishing any remaining billing and
processing, filing reports with regulatory agencies and closing
its books and records.  The true-up process and final
reconciliation with the purchasers of the Westchester SNF is
incomplete.

The Debtors sought and obtained an order directing joint
administration of their cases under Case No. 15-11158.

Judge Michael E. Wiles oversees the cases.

Mary Frances Barrett is president of all of the Debtors.

The Debtors tapped Harter Secrest & Emery LLP as counsel and
Getzler Henrich & Associates LLC as financial advisor.


HOPTO INC: Needs More Capital to Continue as a Going Concern
------------------------------------------------------------
hopTo Inc. filed with the U.S. Securities and Exchange Commission
its quarterly report on Form 10-Q for the three months ended June
30, 2016.

The Company reported a net loss of $437,600 on $958,600 of
revenue for the three months ended June 30, 2016, compared to a net
loss of $889,900 on $1.36 million of revenue for the same period
last year.

The Company's balance sheet at June 30, 2016, showed $1.34 million
in total assets, $4.92 million in total current liabilities and
total stockholders' deficit of $3.58 million.

The Company has incurred significant net losses since inception.
For the three and six months ended June 30, 2016, the Company
incurred losses from operations of $437,600 and $1,412,500.  At
June 30, 2016, the Company had an accumulated deficit of
$82,009,400 and a working capital deficit of $1,959,000.  Due to
Company's inability to date to generate meaningful revenue from its
hopTo Work business and its most recent estimation that revenue
from this product is unlikely in any reasonable time frame, its
cash resources will not be sufficient to fund the business for the
next 12 months.  The Company's ability to continue as a going
concern is dependent on its ability to continue to generate revenue
from its legacy GO-Global business and to raise additional capital
through the issuance of new equity, debt financing, or from the
sale of certain assets to meet short and long-term operating
requirements.

If the Company is unable to obtain the necessary capital, the
Company may have to cease operations.  These factors raise
substantial doubt about our ability to continue as a going
concern.

A copy of the Form 10-Q is available at:
                              
                       https://is.gd/KHOsjk
                          
hopTo Inc. is a developer of software productivity products for
mobile devices, such as tablets and smartphones, and application
publishing software solutions.  The Company's product line, which
is called hopTo, is marketed to small and medium sized businesses,
and enterprise level customers under the name hopTo Work, which is
its primary focus in the hopTo product line.  hopTo provides mobile
end-users with a productivity workspace for their mobile devices
that allows them to manage, share, view and edit their documents,
regardless of where they are stored.



HORSEHEAD HOLDING: Plan Confirmation Trial Begins
-------------------------------------------------
Jeff Montgomery, writing for Bankruptcy Law360, reported that
Horsehead Holding Corp. officials on Aug. 30, 2016, defended the
company's decision to accept a creditor bailout and buy-up plan
during the opening of a two-day contested confirmation hearing.
The Plan will give holders of $205 million in secured notes
effective ownership in exchange for equity.

In a prior report, Mr. Montgomery said the Company's equity holders
on Aug. 26 filed an objection to confirmation of the Plan, arguing
that fiduciary breaches and failed company valuation and sale
efforts made the Company's plan unapprovable.  Mr. Montgomery said
the objection was filed on the same day that company officials
sought a second extension of their exclusive authority to manage
the company's bankruptcy case.

BankruptcyData.com earlier reported that multiple parties --
including Wells Fargo Equipment Finance, Wells Fargo Rail
Corporation, Wells Fargo Rail Services; F.S. Sperry Corp;
Query-Pritchard Construction, Northeast Investors Trust, Western
Oilfields Supply d/b/a Rain for Rent; Brahma Group; J.T. Thorpe and
Son; Mechanical Supply and Insulating Services -- filed with the
U.S. Bankruptcy Court separate objections to confirmation of
Horsehead Holding's Second Amended Joint Plan of Reorganization and
to its Supplement.  

According to BankruptcyData.com, Northeast Investors Trust asserts,
"Funds managed by Northeast hold approximately $2.5 million in
principal amount of the 10.50% Senior Secured Notes due 2017 issued
by Horsehead Holding, which amount represents approximately 1% of
the $205 million principal amount of that issuance. The Debtors and
the Ad Hoc Committee call this investment opportunity a 'capital
commitment,' seemingly in an attempt to circumvent the Bankruptcy
Code's requirement that all similarly-situated creditors be
afforded the same opportunity to receive the same treatment under
the Plan. But, regardless of what they call the transaction or
themselves, the Ad Hoc Committee members are receiving under the
Plan a valuable investment opportunity that is not afforded to
Northeast and other Secured Noteholders that are not part of the Ad
Hoc Committee. The Plan violates Bankruptcy Code Section
1123(a)(4), and is therefore un-confirmable, for the same reasons
explained in Washington Mutual. There can be no dispute that the
opportunity to invest in the Reorganized Debtors through
participation in the UPA has 'inherent value.'. To be sure, the Ad
Hoc Committee and the Debtors have not always contemplated
excluding minority Secured Noteholders from the opportunity to
invest in the Reorganized Debtors. In the Debtors' now-abandoned
Joint Plan of Reorganization Pursuant to Chapter 11 of the
Bankruptcy Code (the 'Original Plan'), Eligible Holders were not
limited to Ad Hoc Committee members. Instead, Eligible Holders
included, among others, all Secured Noteholders.  This valuable
right to participate in the 'upside' of the Reorganized Debtors was
inexplicably revoked by the filing of the current Plan. Finally,
for the avoidance of doubt, Northeast has not consented in any way
to this disparate treatment. Since the filing of the current Plan
that limited participation rights to the Ad Hoc Committee,
Northeast, on its own and through counsel, has made multiple
requests to participate in the UPA. Each of those requests has
either been ignored or denied without legitimate justification.
Accordingly, under no circumstances has Northeast consented to its
inferior treatment under the Plan."

                About Horsehead Holding Corp.

Horsehead Holding Corp. is the parent company of Horsehead
Corporation, a U.S. producer of specialty zinc and zinc-based
products and a recycler of electric arc furnace dust; The
International Metals Reclamation Company, LLC, a leading recycler
of metals-bearing wastes and a leading processor of nickel-cadmium
(NiCd) batteries in North America; and Zochem Inc., a zinc oxide
producer located in Brampton, Ontario. Horsehead, headquartered in
Pittsburgh, Pa., has seven facilities throughout the U.S. and
Canada. The Debtors currently employ approximately 730 full-time
individuals.

Horsehead Holding Corp., Horsehead Corporation, Horsehead Metal
Products, LLC, The International Metals Reclamation Company, LLC,
and Zochem Inc. filed Chapter 11 bankruptcy petitions (Bankr. D.
Del. Case Nos. 16-10287 to 16-10291) on Feb. 2, 2016. The Petition
was signed by Robert D. Scherich as vice president and chief
financial officer. Judge Christopher S. Sontchi is assigned to the
case.

The Debtors have engaged Kirkland & Ellis LLP as general counsel,
Pachulski Stang Ziehl & Jones LLP as local counsel, RAS Management
Advisors, LLC, as financial advisor, Lazard Middle Market LLC as
investment banker, Epiq Bankruptcy Solutions, LLC, as claims and
noticing agent and Aird & Berlis LLP as Canadian counsel.

The Debtors disclosed total assets of $1 billion and total
liabilities of $544.6 million.  As of the Petition Date, the
Debtors' consolidated long-term debt obligations totaled
approximately $420.7 million.

Andrew Vara, acting U.S. trustee for Region 3, appointed seven
creditors of Horsehead Holding Corp. to serve on the official
committee of unsecured creditors. Lowenstein Sandler LLP serves as
counsel to the Committee, while Drinker Biddle & Reath LLP serves
as co-counsel. The Unsecured Creditors Committee is represented by
Kenneth A. Rosen, Esq., Bruce Buechler, Esq., and Philip J. Gross,
Esq., at Lowenstein Sandler LLP.

The U.S. Trustee's office appointed Aquamarine Capital and six
others to serve on Horsehead Holding Corp.'s committee of equity
security holders.


HOUSTON REGIONAL: Fox Balks at Comcast's Bid for Documents
----------------------------------------------------------
Natalie Olivo, writing for Law360, reported that Fox Sports Net has
asked a Texas Bankruptcy Court to deny Comcast Corp.'s request for
documents.

Fox is a third party in the suit pitting the bankruptcy trust of
Houston Regional Sports Network LP against former part owner
Comcast.

According to the report, Fox seeks to shield documents concerning
contract negotiations with Houston's Astros and Rockets in the
suit, which alleges Comcast intentionally torpedoed the value of a
Houston affiliate.  Fox told the Bankruptcy Court that Comcast "has
not even bothered" to seek the information from the affiliate's
trustee.

                About Houston Regional

Houston Regional Sports Network is a joint enterprise among
affiliates of the Houston Astros baseball team, the Houston
Rockets basketball team, and Houston SportsNet Holdings, LLC --
"Comcast Owner" -- an affiliate of Comcast Corporation.  The
Network has three limited partners -- Comcast Owner, Rockets
Partner, L.P., and Astros HRSN LP Holdings LLC.  The primary
purpose of Houston Regional Sports Network is to create and
operate a regional sports programming service that produces,
exhibits, and distributes sports programming on a full-time basis,
including live Astros and Rockets games within the league-
permitted local territories.

An involuntary Chapter 11 bankruptcy petition was filed against
Houston Regional Sports Network, L.P. d/b/a Comcast SportsNet
Houston (Bankr. S.D. Tex. Case No. 13-35998) on Sept. 27, 2013.

The involuntary filing was launched by three units of Comcast/NBC
Universal and a television-related company.  The petitioners are:
Houston SportsNet Finance LLC, Comcast Sports Management Services
LLC, National Digital Television Center LLC, and Comcast SportsNet
California, LLC.

The petitioning creditors asked the Bankruptcy Judge to appoint an
independent Chapter 11 trustee "to conduct a fair and open auction
process for the Network's business assets on a going concern
basis."

Counsel for the petitioning creditors are Howard M. Shapiro, Esq.,
at Wilmer Cutler Pickering Hale and Dorr LLP; George W. Shuster,
Jr., Esq., at Wilmer Cutler Pickering Hale and Dorr LLP; Vincent
P. Slusher, Esq., at DLA Piper; and Arthur J. Burke, Esq., at
Davis Polk & Wardwell LLP.

Judge Marvin Isgur presides over the case.

The Network was officially placed into Chapter 11 bankruptcy
pursuant to a Feb. 7 Order for Relief.  It won approval to
hire Haynes and Boone, Charles A. Beckham, Jr., Esq., Henry
Flores, Esq., Abigail Ottmers, Esq., and Christopher L. Castillo,
Esq., as counsel.  It also hired Conway MacKenzie, Inc., as
financial advisor.

Harry Perrin, Esq., represented Astros owner Jim Crane.  Alan
Gover, Esq., represents the Rockets.

The Astros were represented by Richard B. Drubel, Esq., Colleen A.
Harrison, Esq., and Jonathan R. Voegele, Esq., at Boies, Schiller
& Flexner LLP, in Hanover, NH; and Scott E. Gant, Esq., at Boies,
Schiller & Flexner in Washington, DC.  Comcast Corporation and
NBCUniversal Media, LLC, are represented by Vincent P. Slusher,
Esq., Eli Burriss, Esq., Andrew Mayo, Esq., and Andrew Zollinger,
Esq., at DLA Piper; Arthur J. Burke, Esq., Timothy Graulich, Esq.,
and Dana M. Seshens, Esq., at Davis Polk & Wardwell LLP; and
Howard M. Shapiro, Esq., and Craig Goldblatt, Esq., at Wilmer
Cutler Pickering Hale and Dorr LLP.  Attorney for McLane
Champions, LLC and R. Drayton McLane, Jr., are Wayne Fisher, Esq.,
at Fisher Boyd & Huguenard, LLP.

On Oct. 30, 2014, Bankruptcy Judge Marvin Isgur approved the
restructuring plan that hands control of Comcast SportsNet Houston
to DirecTV and AT&T Inc.  The plan would shut down the network and
then relaunch it under the name Root Sports Houston.


HT FOUNDATION: Hires Campbell & Levine as Counsel
-------------------------------------------------
West Virginia High Technology Consortium Foundation and HT
Foundation Holdings, Inc., seek authority from the U.S. Bankruptcy
Court for the Northern District of West Virginia to employ Campbell
& Levine, LLC as counsel to the Debtor, nunc pro tunc to August 4,
2016.

West Virginia HT requires Campbell & Levine to:

   a. give legal advice with respect to the Debtors' duties in
      the bankruptcy case and the management of assets;

   b. take all necessary action to protect and preserve the
      Debtors' estates, prosecute actions on behalf of the
      Debtors, defend actions commenced against the
      Debtors, negotiate concerning all litigation in which
      the Debtors are involved, and object to claims filed
      against the Debtors' estates;

   c. prepare, on behalf of the Debtors, all necessary motions,
      answers, orders, reports and other legal papers in
      connection with the administration of the Debtors' estates;

   d. perform any and all other legal services for the Debtors in
      connection with the chapter 11 cases, formulate and
      implement a plan of reorganization;

   e. assist the Debtors in the preparation of and the filing of
      a plan of reorganization at the earliest possible date; and

   f. perform legal service as the Debtors may request with
      respect to any matter appropriate to assisting the Debtors
      in their efforts to reorganize.

Campbell & Levine will be paid at these hourly rates:

          Professionals

     Stanley E. Levine        $565
     David B. Salzman         $565
     Daniel A. Austin         $450
     Paul J. Cordaro          $425
     Kathryn L. Harrison      $235
     Adam M. Levine           $125

          Paraprofessionals

     Michele Kennedy  $155.00
     Shirley A. Brown  $125.00

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

David B. Salzman, member of the law firm of Campbell & Levine, 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.

Campbell & Levine can be reached at:

     David B. Salzman, Esq.
     CAMPBELL & LEVINE, LLC
     310 Grant Street, Suite 1700
     Pittsburgh, PA 15219
     Tel: (412) 261-0310
     Fax: 412-261-5066
     E-mail: dbs@camlev.com

                     About West Virginia High Technology
                           Consortium Foundation

West Virginia High Technology Consortium Foundation and HT
Foundation Holdings, Inc., filed chapter 11 petitions (Bankr. N.D.
W.Va. Case Nos. 16-00806 and 16-00807) on Aug. 4, 2016. The Hon.
Hon. Patrick M. Flatley presides over the case. David B. Salzman,
Esq., at Campbell & Levine, LLC, as bankruptcy counsel.

In its petition, West Virginia High Technology and HT Foundation
Holdings estimated $10 million to $50 million in assets and $10
million to $50 million in liabilities. The petition was signed by
James L. Estep, president and CEO.

No official committee of unsecured creditors has been appointed in
the case.


HT FOUNDATION: Hires Reeder & Shuman as Local Counsel
-----------------------------------------------------
West Virginia High Technology Consortium Foundation and HT
Foundation Holdings, Inc., seek authority from the U.S. Bankruptcy
Court for the Northern District of West Virginia to employ Reeder &
Shuman as local counsel to the Debtor, nunc pro tunc to August 4,
2016.

West Virginia HT requires Reeder & Shuman to:

   a. give legal advice with respect to the Debtors' duties in
      the bankruptcy case and the management of assets;

   b. take all necessary action to protect and preserve the
      Debtors' estates, prosecute actions on behalf of the
      Debtors, defend actions commenced against the
      Debtors, negotiate concerning all litigation in which
      the Debtors are involved, and object to claims filed
      against the Debtors' estates;

   c. prepare, on behalf of the Debtors, all necessary motions,
      answers, orders, reports and other legal papers in
      connection with the administration of the Debtors' estates;

   d. perform any and all other legal services for the Debtors in
      connection with the chapter 11 cases, formulate and
      implement a plan of reorganization;

   e. assist the Debtors in the preparation of and the filing of
      a plan of reorganization at the earliest possible date; and

   f. perform legal service as the Debtors may request with
      respect to any matter appropriate to assisting the Debtors
      in their efforts to reorganize.

Reeder & Shuman will be paid at these hourly rates:

          Professionals

     Stephen K. Shuman           $300.00
     Cynthia J. Van Stafford     $250.00

          Paraprofessionals

     Marion Stephen LeMasters    $75.00

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

Stephen K. Shuman, member of the law firm of Reeder & Shuman,
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.

Reeder & Shuman can be reached at:

     Stephen K. Shuman, Esq.
     Reeder & Shuman
     PO Box 842
     Morgantown, WV 26507-0842
     Tel: (304) 292-8488
     Fax: (304) 291-1164
     Email: skshuman@reederShuman.com

                     About West Virginia High Technology
                           Consortium Foundation

West Virginia High Technology Consortium Foundation and HT
Foundation Holdings, Inc., filed chapter 11 petitions (Bankr. N.D.
W.Va. Case Nos. 16-00806 and 16-00807) on Aug. 4, 2016. The Hon.
Hon. Patrick M. Flatley presides over the case. David B. Salzman,
Esq., at Campbell & Levine, LLC, serves as bankruptcy counsel.

In its petition, West Virginia High Technology and HT Foundation
Holdings estimated $10 million to $50 million in assets and $10
million to $50 million in liabilities. The petition was signed by
James L. Estep, president and CEO.

No official committee of unsecured creditors has been appointed in
the case.


INFOMOTION SPROTS: Has Until September 30 to File Chapter 11 Plan
-----------------------------------------------------------------
Judge Joan N. Feeney of the U.S. Bankruptcy Court for the District
of Massachusetts extended InfoMotion Sports Technologies, Inc.'s
exclusivity period for filing a chapter 11 plan and disclosure
statement to September 30, 2016.

The Debtor previously asked the Court to extend its exclusive
period to file a chapter 11 plan to September 28, 2016.  The Debtor
contended that it was winding down all remaining operations, and
preparing its plan, which would contain provisions for payment of
administrative and priority claims and the appointment of a
liquidating trustee to address any remaining issues and
distributions to general unsecured creditors.  The Debtor further
contended that it needed some additional time after August 29,
2016, to complete drafting the plan and disclosure statement,
identify a liquidating trustee, and obtain input from the Office of
the U.S. Trustee regarding plan provisions.

            About InfoMotion Sports Technologies

InfoMotion Sports Technologies, Inc. –
http://www.infomotionsports.com/-- sought chapter 11 protection  
(Bankr. D. Mass. Case No. 16-10724) on March 1, 2016.  The petition
was signed by Michael Crowley, CEO.  The Debtor is represented by
Warren E. Agin, Esq., at Swiggart & Agin, LLC, in Boston.  The case
is assigned to Judge Joan N. Feeney.  At the time of the filing,
the Debtor estimated its assets and debt at less than $10 million.


INTEVA PRODUCTS: S&P Raises Rating on Term Loan to 'B+'
-------------------------------------------------------
S&P Global Ratings raised its issue-level rating on U.S.-based auto
supplier Inteva Products LLC's downsized term loan to 'B+' from 'B'
and revised the recovery rating on the loan to '2' from '3'.  The
'2' recovery rating indicates S&P's expectation for substantial
(70%-90%; upper half of the range) recovery for lenders in a
payment default.  The higher recovery rating primarily reflects the
reduction of the company's outstanding debt in a hypothetical
default scenario.

The company downsized its term loan to $180 million from $250
million, shortened the duration (the maturity date is now 2021
instead of 2023), and cancelled the previously planned dividend
distribution to its financial sponsor, The Renco Group.  The
revised deal will also increase the company's interest expenses by
roughly $2 million with an amortization requirement of $8 million
(which is an increase of roughly $5.5 million from the original
structure) at the launch of the transaction.

"Following the downsizing of its term loan, we expect that the
company's credit metrics will improve modestly (specifically that
its leverage will improve by about 0.3x) relative to our prior
base-case assumptions, with a debt-to-EBITDA metric of around
2.0x-2.5x and a free operating cash flow (FOCF)-to-debt ratio of
10%-15% in 2016 and 2017.  However, this does not change our
assessment of Inteva's financial risk profile because we do not
expect that The Renco Group will relinquish its control over the
company in the intermediate term.  In addition, we still believe
that Inteva's cash flow/leverage ratios will weaken by one or two
categories during periods of stress as the prospect for weakening
ratios increases as the economic cycle reaches its peak," S&P
said.

S&P applies a negative one-notch adjustment to its 'b+' anchor on
Inteva to reflect the relative weakness of its EBITDA margins
(especially in Europe), product mix, and customer diversity
compared with entities that we rate 'B+'.

The stable outlook on Inteva reflects S&P's expectation that the
demand for Inteva's products will remain steady given its existing
backlog and the generally supportive industry conditions.

RECOVERY ANALYSIS

   -- The company's proposed first-lien debt comprises a
      $180 million term loan B facility maturing in 2021.

   -- S&P valued the company on a going concern basis using a 4.0x

      multiple of its projected emergence EBITDA.

Key analytical factors

   -- S&P's simulated default scenario assumes a payment default
      in 2019 due to a sustained economic downturn that reduces
      customer demand for new automobiles, intense pricing
      pressure from competitive actions by other suppliers, and
      the loss of one or more key customers;

   -- This in turn would hurt the company's ability to generate
      free cash flow;

   -- S&P believes that if Inteva were to default, its business
      model would remain viable because of the company's extensive

      network of manufacturing locations and its relationships
      with manufacturers.  As a result, S&P believes lenders would

      achieve the greatest recovery value through a reorganization

      rather than through liquidation.

   -- Based on the company's capital structure, S&P estimates
      Inteva's EBITDA would need to decline by about 50% from 2015

      levels to trigger a payment default.

   -- At this point, S&P forecasts the company's cash flow would
      be insufficient to cover interest expense, required debt
      amortization, and nondiscretionary maintenance capital
      spending.

   -- The term loan B is secured by a first-priority lien on
      substantially all assets (except asset-based lending [ABL]
      collateral), including a pledge of all of the capital stock
      of restricted subsidiaries held by the borrower and each
      guarantor (limited to 65% of the voting stock of foreign
      subsidiaries), with a second-priority lien on all ABL
      collateral.

   -- S&P has identified that about 10% of the company's
      enterprise value is derived from nonguarantor subsidiaries
      with a 65% stock pledge and 21% from subsidiaries that do
      not guarantee the company's primary debt obligations or
      provide asset pledges to support the company's secured debt.

Simulated default assumptions

   -- Year of default: 2019
   -- EBITDA at emergence: $77 million
   -- An emergence multiple of 4x;
   -- Jurisdiction: U.S.

Factors of our default scenario were:

   -- LIBOR of 325 bps;
   -- A 60% draw under the proposed $175 million ABL revolver at
      default;
   -- The European credit facilities are 85% drawn at default; and
   -- All debt includes six months of accrued interest.
   -- Administrative claims of 5% of enterprise value, which is
      S&P's standard assumption for the auto supplier sector; and
   -- Six months of accrued prepetition interest expense on all
      debt at default.

Simplified waterfall

   -- Gross enterprise value: $308 million
   -- Administrative expenses: $16 million
   -- EBITDA at emergence: $77 million
   -- Enterprise value multiple: 4.0x
   -- EBITDA decline: 49%
   -- Net enterprise value: $292 million
   -- Priority claims: $118.5 million
   -- Secured first-lien debt claims: $166.6 million
      -- Recovery expectations: 70%-90% (upper half of the range)

RATINGS LIST

Inteva Products LLC
Corporate Credit Rating                B/Stable/--

Upgraded; Recovery Rating Revised
                                        To                 From
Inteva
Products LLC
$180M Term B Bank Loan Due 2021        B+                 B
  Recovery Rating                       2H                 3L


IRELAND NEEDLECRAFT: Bike Retailer Files for Bankruptcy Protection
------------------------------------------------------------------
Ireland Needlecraft, Inc., filed a voluntary petition under Chapter
11 of the Bankruptcy Code on Aug. 29, 2016.  The action was
commenced in the U.S. Bankruptcy Court for the Central District of
California (Bankr. C.D. Cal. Case No. 16-12518).

The Debtor intends to reorganize, remain in business and pay its
creditors.

Ireland Needlecraft estimated assets in the range of $500,000 to $1
million and liabilities of between $1 million to $10 million as of
the Petition Date.  The Debtor reported revenues of $1.23 million
in 2014 and $1.94 million in 2015.

In a statement, Ireland Needlecraft Vice President Robert Stotts,
listed a combination of reasons for the bankruptcy filing
including, among other things, (a) the slowly growing economy, (b)
the unprofitable contract with Giant Bicycle, Inc., its major
supplier, (c) expenses ballooning out of control, and (d) problems
with financial record keeping.

The Debtor identified two secured creditors, namely: Giant Bicycle,
which is owed $74,870 (retail) and $458,276 (demo bikes) and
Cycling Sports Group, Inc., which is owed $220,879.

Formed in 1986, Ireland Needlecraft, d/b/a H&S Bicycles,
manufactured and sold custom clerical, judicial and choir robes.
In 2000, the Company acquired its first bicycle store in Burbank
and exited the custom robe business in 2002.  The Debtor has 12
employees.

Currently, the Debtor operates two retail bicycle stores in Granada
Hills and Burbank, California.  It also sells bicycles and related
products online.   The Debtor anticipates that revenues for 2016
will exceed $1.5 million.

Contemporaneously with the petition, the Debtor has filed various
first day motions seeking authority to, among other things, use
cash collateral on an interim and final basis based on its
projections of income, expenses and cash flow.  The Debtor requires
cash collateral to operate is business, pay employees, rent and
utilities.  The Debtor projects total expenses of $120,255 for the
period from Sept. 3, 2016, through Oct. 22, 2016.

In addition, the Debtor seeks to pay employee obligations, prohibit
utility providers from discontinuing services and continue certain
customer practices.

The Law Offices of Steven R. Fox serves as counsel to the Debtor.

Judge Maureen Tighe is assigned to the case.

A full-text copy of Robert Stotts' affidavit is available for free
at http://bankrupt.com/misc/8_IRELAND_Affidavit.pdf


IRELAND NEEDLECRAFT: Case Summary & 20 Top Unsecured Creditors
--------------------------------------------------------------
Debtor: Ireland Needlecraft, Inc.
           dba H & S Bicycles
        16908 San Fernando Mission Blvd.
        Granada Hills, CA 91344

Case No.: 16-12518

Chapter 11 Petition Date: August 29, 2016

Court: United States Bankruptcy Court
       Central District of California (San Fernando Valley)

Judge: Hon. Maureen Tighe

Debtor's Counsel: Steven R Fox, Esq.
                  LAW OFFICES OF STEVEN R. FOX
                  17835 Ventura Blvd Ste 306
                  Encino, CA 91316
                  Tel: 818-774-3545
                  Fax: 818-774-3707
                  E-mail: emails@foxlaw.com

Estimated Assets: $500,001 to $1 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Robert Stotts Jr., vice president.

A copy of the Debtor's list of 20 largest unsecured creditors is
available for free at http://bankrupt.com/misc/cacb16-12518.pdf


J&C OILFIELD: Court Allows Cash Collateral Use on Final Basis
-------------------------------------------------------------
Judge John W. Kolwe of the U.S. Bankruptcy Court for the Western
District of Louisiana authorized J&C Oilfield Rentals, LLC, to use
cash collateral on a final basis.

Citizens Progressive Bank and Integrity Factoring & Consulting,
Inc. were granted replacement liens to the same extent their prior
security attached to the Debtors' accounts receivables
prepetition.

The Debtor was directed to make an interim adequate protection
payment to Integrity Factoring & Consulting in the amount of
$10,000.

The Debtor was further directed to make monthly adequate protection
payments to Integrity Factoring & Consulting and Citizens
Progressive Bank in the amount of $10,000, with the payments going
first to Integrity Factoring & Consulting until the debt owed to it
is paid in full.
  
A full-text copy of the Order, dated August 24, 2016, is available
at https://is.gd/t5oqmD

                     About J&C Oilfield Rentals

J&C Oilfield Rentals, LLC, filed a chapter 11 petition (Bankr. W.D.
La. Case No. 16-80783) on July 20, 2016, and is represented by
Bradley L. Drell, Esq., at Gold, Weems, Bruser, Sues & Rundell.
The petition was signed by Joey Nugent, authorized representative.
The case is assigned to Judge John W. Kolwe.  The Debtor disclosed
$686,347 in assets and $2.90 million in liabilities at the time of
the filing.



J.J. BAKER: Case Summary & Unsecured Creditor
---------------------------------------------
Debtor: J.J. Baker, LLC
        341 S. Elgin Rd.
        Bolivar, MO 65613

Case No.: 16-60866

Chapter 11 Petition Date: August 29, 2016

Court: United States Bankruptcy Court
       Western District of Missouri (Springfield)

Debtor's Counsel: J. Kevin Checkett, Esq.
                  CHECKETT & PAULY, P.C.
                  517 S. Main St.
                  Carthage, MO 64836
                  Tel: 417-358-4049
                  Fax: 417-358-6341
                  E-mail: maw@cp-law.com

                    - and -

                  Mariann Morgan, Esq.
                  CHECKETT & PAULY, P.C.
                  517 S. Main St.
                  Carthage, MO 64836
                  Tel: 417-358-4049
                  Fax: 417-358-6341
                  E-mail: mam@cp-law.com

Total Assets: $3.34 million

Total Liabilities: $1.85 million

The petition was signed by Jack J. Baker and Lynda E. Baker,
managing members.

The Debtor listed the Polk County Collector as its largest
unsecured creditor holding a claim of $27,703.

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

           http://bankrupt.com/misc/mowb16-60866.pdf


JOHN JOHNSON III: Unsecured Creditors to Get 35% of Claims
----------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Ohio is set
to hold a hearing on October 5 to consider confirmation of the
Chapter 11 plan of Columbus Blue Jackets hockey player John Joseph
Louis Johnson, III.

Under the proposed restructuring plan, Class 7 general unsecured
creditors will get 35% of their claims.  Each general unsecured
creditor will receive a cash distribution from the "administrative
holdback" 15 days after the plan takes effect or after entry of a
final order allowing the claim.

The administrative holdback in the amount of $1.6 million will be
used to pay administrative claims, priority claims, U.S. trustee's
fees, Class 6 convenience claims and Class 7 general unsecured
claims, according to the Debtor's disclosure statement explaining
the plan.

A copy of the disclosure statement is available for free at
https://is.gd/DR7mew

The Debtor is represented by:

     Marc J. Kessler, Esq.
     Daniel A. DeMarco, Esq.
     Rocco I. Debitetto, Esq.
     Hahn Loeser & Parks LLP
     65 E. State Street, Suite 1400
     Columbus, Ohio 43215
     Tel: (614) 233-5168
     Fax: (614) 221-5909
     Email: mkessler@hahnlaw.com
     Email: dademarco@hahnlaw.com
     Email: ridebitetto@hahnlaw.com

                     About John Johnson, III

John Joseph Louis Johnson, III, a Columbus Blue Jackets hockey
player, sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. S. D. Ohio Case No. 14-57104) on October 7, 2014.  The case
is assigned to Judge John E. Hoffman, Jr.


JONATHAN RUBIN: Disclosure Statement Hearing Set For Sept. 15
-------------------------------------------------------------
The Hon. Kathryn C. Ferguson of the U.S. Bankruptcy Court for the
District of New Jersey has scheduled for Sept. 15, 2016, at 2:00
p.m., a hearing to consider the adequacy of the disclosure
statement filed by Jonathan Rubin describing the Debtor's plan of
reorganization.

Jonathan Rubin filed for Chapter 11 bankruptcy protection (Bankr.
D. N.J. Case No. 14-24223).

The Debtor's bankruptcy counsel can be reached at:

     Timothy P. Neumann, Esq.
     Broege, Neumann, Fischer & Shaver, LLC
     25 Abe Voorhees Drive
     Manasquan, NJ 08736
     Tel: (732) 722-5763
          (877) 571-5074
     Fax: (732) 223-2416


KEELEY AND GRABANSKI: 8th Circ. Affirms Setoff Ruling
-----------------------------------------------------
The United States Court of Appeals for the Eighth Circuit affirmed
the judgment of the Bankruptcy Appelate Panel, which held that the
bankruptcy court incorrectly calculated the setoff and affirmed the
latter's judgment in all other respects.

Kip Kaler, as trustee of the bankruptcy estate of Keeley and
Grabanski Land Partnership brought suit against Louie Slominski to
avoid a land lease that Slominski and the debtor had entered.  The
bankruptcy court avoided and terminated the lease, ordered
Slominski to pay rent for the period that he occupied the land,
awarded Slominski an offset based on improvements that he made to
the land, and denied the trustee's motion for a new trial based on
newly discovered evidence.

Both parties appealed the bankruptcy court's judgment to the BAP.
The BAP held that the bankruptcy court incorrectly calculated the
setoff but affirmed its judgment in all other respects. Slominski
appeals the judgment of the BAP, arguing that the estate received
an impermissible double recovery under 11 U.S.C. Section 550. The
trustee cross-appeals, arguing that the bankruptcy court erred when
it denied its motion for a new trial based on newly discovered
evidence.

According to the Eighth Circuit, the bankruptcy court did not
commit clear error in crediting Slominski's evidence and testimony
as more persuasive than the trustee's claimed newly discovered
evidence.  The bankruptcy court drew different conclusions from the
newly discovered evidence regarding Slominski's GFP status than did
the trustee.  In the bankruptcy court's estimation, the newly
discovered evidence -- consisting primarily of unexecuted lease
documents found on a computer not belonging to Slominski -- did not
undermine its conclusion that Slominski acted in good faith.  This
finding was not clearly erroneous, the Eighth Circuit held.  Thus,
the bankruptcy court did not abuse its discretion in refusing to
grant the trustee a new trial based on the newly discovered
evidence, the Eighth Circuit further held.

The appeals cases are In re: Keeley and Grabanski Land Partnership,
Debtor, Kip M. Kaler, in his capacity as Chapter 11 Bankruptcy
Trustee of the Debtor Keeley and Grabanski Land Partnership,
Appellee, v. Louie Slominski, Appellant, and In re: Keeley and
Grabanski Land Partnership, Debtor, Kip M. Kaler, in his capacity
as Chapter 11 Bankruptcy Trustee of the Debtor Keeley and Grabanski
Land Partnership, Appellant, v. Louie Slominski, Appellee, Nos.
15-2334, 15-2405 (8th Cir.).

A full-text copy of the Opinion dated August 10, 2016 is available
at https://is.gd/bwqwW1 from Leagle.com.

Kip M. Kaler, Esq. -- Kip M. Kaler, for Appellee.

Roger James Minch, Esq. -- rminch@serklandlaw.com -- Serkland Law
Firm for Appellant.

James A. Lodoen, Esq. -- jlodoen@lindquist.com -- Lindquist &
Vennum LLP for Appellant.

William P. Wassweiler, Esq. -- wwassweiler@lindquist.com --
Lindquist & Vennum LLP for Appellant.

Kirstin Dawn Kanski, Esq. -- kkanski@lindquist.com -- Lindquist &
Vennum LLP for Appellant.

Charles E. Nelson, Esq. for Appellant.

           About Keeley and Grabanski Land Partnership

Thomas Grabanski, a North Dakota farmer, and his wife Mari filed a
personal Chapter 11 bankruptcy petition (Bankr. D. N.D. Case No.
10-30902) on July 22, 2010.  DeWayne Johnston, Esq., at Johnston
Law Office, represents the Grabanskis in their Chapter 11 case.
The Grabanskis estimated assets between $1 million and $10
million,
and debts between $10 million and $50 million.

On July 23, 2010, Mr. Grabanski signed a Chapter 11 petition for
Grabanski Grain LLC (Bankr. D. N.D. Case No. 10-30924).  DeWayne
Johnston, Esq., also represents Grabanski Grain.  The Debtor is
estimated to have assets and debts of $1 million to $10 million.

Former owners, John and Dawn Keely, in December 2010 forced the
partnership Keeley and Grabanski Land Partnership in Texas into
Chapter 11.  The former owners filed an involuntary Chapter 11
bankruptcy petition against the partnership (Bankr. D. N.D. Case
No. 10-31482) on Dec. 6, 2010.  Kenneth Corey-Edstrom, Esq., at
Larkin Hoffman Daly & Lindgren Ltd., represents the petitioner.

The Bankruptcy Court granted the order for relief on January 7,
2011, and Kip Kaler was appointed as the Chapter 11 Trustee on
April 5, 2011.  The U.S. Bankruptcy Appellate Panel for the Eighth
Circuit later affirmed the Bankruptcy Court's order appointing a
trustee in Keeley and Grabanski Land Partnership's involuntary
Chapter 11 case.  Kip M. Kaler, Chapter 11 trustee of Keeley and
Grabanski Land Partnership, won authority to employ Kaler Doeling
Law Office as counsel.

The case was converted to Chapter 7 on October 11, 2011.  Kip
Kaler
continued to act as trustee in the Chapter 7 case.

Keeley and Grabanski Land Partnership in Texas -- since 2009 doing
business as Grabanski Land Partnership -- was formed in 2007 for
Texas farming operations between farmers Thomas Grabanski and John
Keeley of Grafton, N.D., and their wives.  K&G Land, along with a
separate farming partnership, operated more than 10,000 acres of
corn and sunflowers from 2007 to 2009 in two locations in Texas
near the towns of Blossom and DeKalb.

In separate, related lawsuits, the Grabanskis face several
"adversarial" lawsuits, filed by certain creditors.  The creditors
who filed suits include Crops Production Services Corp., AgCountry
Farm Credit Services, and PHI Financial.


KENNY LEIGH: Wants to Use IRS Cash Collateral
---------------------------------------------
Kenny Leigh, PA asks the U.S. Bankruptcy Court for the Middle
District of Florida for authorization to use cash collateral
through the commencement of its case.

The Debtor contends that it needs to use cash collateral so that it
can continue to operate its business and preserve its value as a
going concern.

The Debtor believes that the Internal Revenue Service may allege an
interest in cash collateral as it has levied on the Debtor's bank
accounts.  The Debtor relates that the collateral securing payment
to the IRS has a value of $78,500.

The Debtor proposes to grant the IRS a replacement lien to the same
nature, priority and extent that the IRS enjoyed as of the Petition
Date.  The Debtor also proposes to make cash payments to the IRS,
equal to amortize a debt equal to the value of the collateral that
the IRS encumbers over a 5 year period at 4% interest.

The Debtor proposes to pay the IRS over 60 months at 4%, or $3,315
per month as adequate protection towards its claim.

A full-text copy of the Debtor's Motion, dated Aug, 24, 2016, is
available at https://is.gd/enoHd0

                     About Kenny Leigh

Kenny Leigh, PA, filed a chapter 11 petition (Bankr. M.D. Fla. Case
No. 16-03208) on August 23, 2016.  The petition was signed by
Daniel K. Leigh, Jr., CEO.  The Debtor is represented by Donald M.
DuFresne, Esq.  The Debtor disclosed total assets at $1.06 million
and total liabilities at $921,905.

The Debtor provides legal services to clients, primarily in the
areas of family law and custody.




KIWA BIO-TECH: Working Capital Deficit Raises Going Concern Doubt
-----------------------------------------------------------------
Kiwa Bio-Tech Products Group Corporation filed with the U.S.
Securities and Exchange Commission its quarterly report on Form
10-Q for the three months ended June 30, 2016.

The Company reported a net income of $181,975 on $443,085 of
revenue for the three months ended June 30, 2016, compared to a net
loss of $155,546 on $nil of revenue for the same period last year.

The Company's balance sheet at June 30, 2016, showed $1.38 million
in total assets, $8.83 in total liabilities and total stockholders'
deficit of $7.45 million.

As of June 30, 2016, the Company had cash of $12,367.  The Company
had working capital deficit of $5,831,748 and an accumulated
deficit of $ 20,086,706 as of June 30, 2016.  This trend is
expected to continue.  These factors, among others, create
substantial doubt about the Company's ability to continue as a
going concern.

A copy of the Form 10-Q is available at:
                              
                       https://is.gd/0WUDwW
                          
Kiwa Bio-Tech Products Group Corporation develops, manufactures,
distributes and markets bio-technological products for agriculture.
The Company has acquired technologies to produce and market
bio-fertilizer.  The Company has developed over six bio-fertilizer
products with bacillus spp and/or photosynthetic bacteria as its
ingredients. The Company's products contain ingredients of both
photosynthesis and bacillus bacteria which are protected by
patents.



LAST CALL: Selling Liquor License to MAA Annapurna for $100K
------------------------------------------------------------
Last Call Guarantor, LLC, and its affiliates filed a motion asking
the U.S. Bankruptcy Court for the District of Delaware to authorize
the private sale of liquor license no. R-19033 ("License") of Last
Call Operating Co. I., Inc. ("Seller"), issued by the Pennsylvania
Liquor Control Board, to MAA Annapurna, LLC for $100,000.

The Debtors own and operate sports bar and casual family-dining
restaurants under three well-recognized concepts, namely Fox &
Hound, Bailey's Sports Grille, and Champps.

The Seller presently owns, and holds in safekeeping, the License,
which was issued in the name of Tent Restaurant Operations, Inc. by
the Pennsylvania Liquor Control Board. The License was originally
associated with the premises located at 2625 Brindle Drive, Dauphin
County, Susquehanna Township, Pennsylvania. The License is
associated with a Fox & Hound location formerly operated by the
Debtors' predecessors in interest which was shuttered prior to the
Petition Date. Because the License is no longer being actively used
by the Seller or the remaining Debtors, the Debtors have determined
that the sale would be in the best interests of the Debtors, their
estates, creditors and other parties in interest.

On Jan. 4, 2016, the Seller and the Buyer entered into the Purchase
Agreement. The Purchase Agreement contemplates the sale of the
License for a total purchase price of $100,000, with net proceeds
of $90,000 to the Seller following the deduction of commissions.
Commissions totaling $10,000 will be paid from the sale proceeds
to, and split equally between, Crossroads Commercial Realty, LLC
and Liquor Licenses Sales PA-NJ, LLC. The Purchase Agreement was
modified through two addenda dated June 1, 2016 and July 3, 2016,
respectively.

A copy of the Purchase Agreement attached to the Motion is
available for free at:

                  http://bankrupt.com/misc/Last_Call_103_Sales.pdf

The License was marketed by a broker for months prior to the
execution of the pending agreement by Seller and Buyer. The
proposed sale to the Buyer represents the only offer received by
the Seller. If the pending sale does not close, the Seller would
have to recommence its marketing efforts, despite having waited for
more than 7 months to fully realize the proceeds from the pending
transaction.

The Buyer has advised the Debtors that it must close on the sale of
the License no later than Aug. 29, 2016.  The Buyer otherwise will
not have the appropriate approvals in place with respect to the
License from the Pennsylvania Liquor Control Board.  The Debtors
request that the Court waive the fourteen-day stay periods under
Bankruptcy Rule 6004(h) so that the Sale Order may be effective
immediately upon entry.

                  About Last Call Guarantor

Headquartered in Dallas, Texas, and with operations in 25 states,
Last Call Guarantor, LLC, et al., own and operate sports bar and
casual family-dining restaurants under three well-recognized
concepts, namely Fox & Hound, Bailey's Sports Grille, and Champps.

They operate 48 Fox & Hound locations, nine Bailey's locations,
and
23 Champps locations.  They have franchise agreements with five
franchisees for Champps Restaurants.  The Company has more than
4,700 full and part-time employees.

On Aug. 10, 2016, each of Last Call Guarantor, LLC, Last Call
Holding Co. I, Inc., Last Call Operating Co. I, Inc.,  F&H
Restaurants IP, Inc., KS Last Call Inc., Last Call Holding Co. II,
Inc., Last Call Operating Co. II, Inc., Champps Restaurants IP,
Inc. and MD Last Call Inc. filed a Chapter 11 bankruptcy petition
(Bankr. D. Del. Case Nos. 16-11844 to 16-11852).  The petitions
were signed by Roy Messing, the CRO.

Last Call Guarantor estimated assets in the range of $10 million
to
$50 million and liabilities of $100 million to $500 million.

Dennis A. Meloro, Esq., Nancy A. Mitchell, Esq., Nancy A.
Peterman,
Esq., Matthew Hinker, Esq., and John D. Elrod, Esq., at Greenberg
Traurig, LLP represent the Debtors as counsel.

Judge Kevin Gross is assigned to the cases.


LEE STEEL: Court Affirms Order Amending Sale Order
--------------------------------------------------
Judge Nancy G. Edmunds of the United States District Court for the
Eastern District of Michigan, Southern Division, affirmed the
bankruptcy court's order amending the sale order entered in the
bankruptcy case of LSC Liquidation, Inc., and its debtor
affiliates.

This is an appeal from a March 29, 2016 bankruptcy court order
granting UnitedHealthcare Insurance Company's motion to amend.
UnitedHealthcare provided medical insurance coverage to LSC's
employees under two group health insurance policies.

On August 12, 2015, the bankruptcy court entered a sale order
authorizing the sale of certain fixed assets and LSC's working
capital assets to the buyer, Union Partners I, LLC. The sale closed
on September 18, 2015. In connection with the sale, Buyer hired
certain of LSC's employees. In addition, on September 29, 2015,
Buyer sent a letter to United, informing them that their name had
changed effective September 18, 2015, and providing Buyer's tax
identification number.

On January 14, 2016, however, the Official Committee of Unsecured
Creditors filed an adversary preference action against United,
seeking to recover over $200,000 in allegedly preferential
pre-petition transfers. The Committee argues that United was not
entitled to receive the premium payments because the Policies were
not assumed and assigned in the sale order. United presented the
Committee with the December 3 letter and asked the Committee to
withdraw its motion, but the Committee refused.

On February 26, 2016, United filed a motion to amend the sale order
pursuant to Federal Rule of Civil Procedure 60,1 to clarify and
confirm that the Policies were assumed and assigned under 11 U.S.C.
Section 365.2 The Committee objected. The bankruptcy court granted
the motion to amend under either Rule 60(a) or (b)(1). This appeal
followed.

Judge Edmunds held that under Rule 60(a), a court may "correct a
clerical mistake or a mistake arising from oversight or omission
whenever one is found in a judgment, order, or other part of the
record."  A correction made pursuant to Rule 60(a) is not
appropriate in instances where the court "changes its mind" or in
order to "revisit its legal analysis or otherwise correct an error
of substantive judgment," Judge Edmunds further held.  Rather, a
court acts properly under Rule 60(a) "when it is necessary to
correct mistakes or oversights that cause the judgment to fail to
reflect what was intended at the [relevant] time," Judge Edmunds
said.

The bankruptcy court concluded that all affected parties "intended
at the time of the sale for there to be healthcare in place."
Judge Edmunds held that the failure to include express language to
that effect, the bankruptcy court found, was a mistake that "was
the result of an oversight."  The plain language of the Rule
clearly provides for corrections of "a mistake arising from
oversight or omission."

Judge Edmunds held that the Court cannot conclude that the
bankruptcy court abused its discretion in permitting the amendment
to the sale order under Rule 60(a). Because the Court affirms the
decision under Rule 60(a), the Court need not address the
bankruptcy court's alternative ground for granting relief under
Rule 60(b)(1).

The case is Gene R. Kohut, solely in his capacity as Liquidating
Trustee of the LSC Liquidating Trust Appellant, v. United
Healthcare Insurance Company, Appellee, Case No. 16-11325 (E.D.
Mich.).

A full-text copy of the Opinion and Order dated August 10, 2016 is
available at https://is.gd/YFuiEc from Leagle.com.

Gene R. Kohut, Appellant, is represented by Anthony J. Kochis, Esq.
-- akochis@wolfsonbolton.com -- Wolfson Bolton PLLC & Scott A.
Wolfson, Esq. -- swolfson@wolfsonbolton.com -- Wolfson Bolton
PLLC.

United Healthcare Insurance Company, Appellee, is represented by
Jeffrey S. Grasl, Esq. -- Grasl PLC.

                About Lee Steel Corporation

Novi, Michigan-based Lee Steel Corp., provides flat rolled steel,
including hot rolled steel, cold rolled steel, and exposed coated
products for automotive and other manufacturing industries.

Lee Steel and 2 affiliated companies -- Taylor Industrial
Properties, L.L.C., and 4L Ventures, LLC -- filed for separate
bankruptcy protection (Bankr. D. Del. Case No. 15-45784) on April
13, 2015.

The Hon. Marci B. McIvor presides over the cases.  Joshua A.
Gadharf, Esq., at McDonald Hopkins PLC, represents the Debtor.
Huron Business Advisory, serves as financial advisor; and Epiq
Bankruptcy Solutions serves as claims and noticing agent.

Lee Steel disclosed $63,206,282 in total assets and $62,659,806 in
total liabilities.

Hilco Global has purchased the steel processing facility located
at
the Lee Steel Corporation site in Romulus, Michigan. The deal
which
was approved in U.S. Bankruptcy Court includes a 200,000 square
foot plant and all of the steel processing equipment located at
that site.  The sale is expected to close in mid-September.

The U.S. Trustee for Region 9 appointed three creditors to serve
on
the official committee of unsecured creditors. Conway Mackenzie,
Inc., serves as its financial advisor.

                           *     *     *

The Debtors sold their steel processing facility located in
Romulus, Michigan, to Hilco Global for $14 million.  The deal
which
was approved in U.S. Bankruptcy Court includes a 200,000 square
foot plant and all of the steel processing equipment located at
that site.

Union Partners I, LLC, won an auction for the Debtors' Wyoming
facility and working capital assets with a $23.6 million offer.
Effective Sept. 18, 2015, the sale to Union Partners closed, and
the Debtors ceased operations and commenced the process of winding
down their affairs.  The Debtors changed their names to LSC
Liquidation Inc., et al., following the sale.


LEGEND OIL: Negative Working Capital Raises Going Concern Doubt
---------------------------------------------------------------
Legend Oil and Gas, Ltd., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q for the three
months ended June 30, 2016.

The Company reported a net loss of $1.22 million on $826,111 of
revenues for the three months ended June 30, 2016, compared to a
net loss of $1.87 million on $2.32 million of revenues for the same
period last year.

For the six months ended June 30, 2016, the Company listed a net
loss of $2.01 million on $2 million of revenues, compared to a net
loss of $10.78 million on $2.32 million of revenues for the same
period in the prior year.

The Company's balance sheet at June 30, 2016, showed $5.26 million
in total assets, $7.47 million in total current liabilities and
total stockholders' deficit of $2.21 million.

The Company has incurred significant losses from continuing
operations of approximately $2 million for the six months ended
June 30, 2016 and had negative working capital of approximately
$700,000 at June 30, 2016.  Additionally, the Company is dependent
on a small number of customers in obtaining its revenue goals.
Further, obtaining additional debt and/or equity financing to
roll-out and scale its planned principal business operations may be
limited due its losses from operations.  These factors raise
substantial doubt about the Company’s ability to continue as a
going concern.

A copy of the Form 10-Q is available at:
                              
                       https://is.gd/oO2Jgy
                          
Alpharetta, Ga.-based Legend Oil and Gas, Ltd., is a crude oil
hauling and trucking company.  The Company has principal operations
in the Bakken region of North Dakota.  The Company's segments
include Corporate, Trucking and Services.  The Company holds
interests in Black Diamond Energy Holdings, LLC (Maxxon).  Maxxon
is a trucking and oil and gas services company that operates in
North Dakota.  The Company performs hauling services for
institutional drilling and exploration companies, as well as crude
oil marketers.



LEHMAN BROTHERS: Court Narrows Claims in "Fried"
------------------------------------------------
The Supreme Court of New York County in the case captioned BARBARA
J. FRIED; ALTITUDE PARTNERS, LLC; RICHARD D. MALTZMAN, AS TRUSTEE
FOR THE RICHARD D. & CHARLENE MALTZMAN FAMILY TRUST; JEFFOREED
PARTNERS, L.P.; ZELFAM, LLC; on behalf of themselves and other
limited partners joining them, Plaintiffs, v. LEHMAN BROTHERS REAL
ESTATE ASSOCIATES III, L.P.; LEHMAN BROTHERS PRIVATE EQUITY
ADVISERS, LLC; REAL ESTATE PRIVATE EQUITY, INC.; SILVERPEAK REAL
ESTATE PARTNERS, LP; REPE CP MANAGECO, LLC; MARK A. WALSH; MARK H.
NEWMAN; BRETT BOSSUNG; RODOLPHO AMBOSS; KEVIN DINNIE; MICHAEL J.
ODRICH; CHRISTOPHER M. O'MEARA; RICHARD S. FULD, JR.; JOSEPH M.
GREGORY; ERIN CALLAN; IAN LOWITT; THOMAS RUSSO; & JOHN DOE 1
through 50, Defendants, Docket No. 651461/11 (N.Y.), granted the
motion to supplement the record by defendants Lehman Brothers Real
Estate Associates III L.P., Lehman Brothers Private Equity
Advisers, LLC, and Real Estate Private Equity. Inc.

The action is one for fraud, breach of fiduciary duty, breach of
contract and a declaratory judgment arising from several real
estate investment partnerships formed in 2007.  The gravamen of the
amended complaint is that the defendants induced the plaintiffs to
invest in the partnerships in order to rid themselves of devalued
properties at the plaintiffs' expense.

At issue is the parties' dispute over the Valuation Summary, which
was created in June 2008 and which stated that LBREP III's
portfolio had increased in value by 2.4% at that time.  The parties
sharply disputed, at oral argument of motions 003 and 004, whether
the Valuation Summary was sent to plaintiffs at any point.  At oral
argument on motions 003 and 004, plaintiff's counsel stated that
plaintiffs told him that they had received the Valuation Summary.
Defendants contend that the Valuation Summary was not sent to
investors, including plaintiffs.  Defendants now seek to introduce
the Second Circuit Brief to contradict plaintiffs' assertion.

According to the court, the plaintiffs have not demonstrated any
prejudice or surprise from introduction of the Second Circuit Brief
and plaintiffs have had an opportunity to be heard in opposition to
defendants' request to supplement the record.  Therefore, the court
permits defendants to supplement the record and the court will
consider the Second Circuit Brief for whatever probative value it
has, if any, in consideration of motion sequences 003 and 004.

The Court also granted the motion by defendants Lehman Brothers
Real Estate Associates III L.P., Lehman Brothers Private Equity
Advisers, LLC, Real Estate Private Equity, Inc., Michael J. Odrich,
Christopher M. O'Meara, Richard J. Fuld, Jr., Joseph M. Gregory,
Erin Callan, Ian Lowitt and Thomas Russo, to dismiss the amended
complaint as against them, and the motion by defendants Mark A.
Walsh, Mark H. Newman, Brett Bossung, Rodolpho Amboss, Kevin
Dinnie, Silverpeak Real Estate Partners, LP, and REPE CP ManageCo,
LLC, to dismiss the amended complaint as against them.

The Court found, among other things, that:

   -- the complaint fails to allege any specific misrepresentations
or omissions by any of the individual defendants in their
individual capacities sufficient to sustain a cause of action for
fraud. Therefore, the first and second causes of action are
dismissed against the individual defendants on that basis.

   -- the plaintiffs have failed to allege sufficient facts upon
which an inference of fraudulent scienter can be drawn on the part
of any of the defendants.

   -- The complaint does not adequately set forth specific factual
allegations against the individual defendants or otherwise
distinguish among them with respect to specific conduct, such as
would support a cause of action against a given individual. The
only specific conduct in the complaint is the allegation that
Odrich sent a letter to plaintiffs on March 18, 2008, which warned
investors that the real estate market was under unprecedented
stress, but assured them that Lehman remained confident about its
ability to provide good investment returns. Plaintiffs have not put
forth any facts or otherwise demonstrated that the statements in
the letter are actionable.  In any event, the causes of action
underlying the aiding and abetting claim have been dismissed, as
set forth above. Therefore, the fourteenth cause of action is also
dismissed.

   -- Civil conspiracy is not recognized as an independent tort in
New York. Therefore, the fifteenth cause of action is dismissed.

A full-text copy of the August 5, 2016 decision is available at
https://is.gd/h72NKD from Leagle.com.

                     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.


LENAPE LAKE: Equity Holders Required to Fund Exit Plan
------------------------------------------------------
Equity holders for bankrupt Lenape Lake Inc. will be required to
provide funding for the company's proposed Chapter 11 plan of
reorganization.

According to Lenape Lake's latest disclosure statement, equity
holders will be required to contribute at least $37,500 to $45,250
to fund the plan.  If any equity holder fails to contribute his pro
rata share of the funds, the other equity holders will have a claim
against him.

Equity holders are classified in Class 4 and are not permitted to
vote on the plan, according to the disclosure statement filed with
the U.S. Bankruptcy Court for the Eastern District of New York.

Class 2 consists of all Allowed General Unsecured Claims.  The
Debtor's Amended Schedule F reflects that it owes approximately
$2,000 to Bevan Forestry, Inc., and the sum of $1,000 to Marcus
Brooks and Alejandra V. Azios, which claims are undisputed.  The
Debtor has been advised that Marcus Brooks has withdrawn any claim
against the estate.  The claim of Bevan Forestry, Inc., to the
extent it is an Allowed Claim, will be paid, without interest, in
full, on the Effective Date.

A copy of the disclosure statement is available for free at
https://is.gd/sd3kDI

                        About Lenape Lake

Lenape Lake Inc. owns 88 acres of land in Sullivan County, New
York, with private lake known as Lenape Lake, together with gravel
roads and several cottages or structures thereon.

The Debtor sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. E.D.N.Y. Case No. 15-40174) on January 16, 2015.  The
filing was precipitated by litigation pending among shareholders
over the real property.


LINN ENERGY: Can File Chapter 11 Plan Until January 16
------------------------------------------------------
Judge David R. Jones of the U.S. Bankruptcy Court for the Southern
District of Texas extended Linn Energy, LLC, et. al.'s exclusive
periods to file a chapter 11 plan and solicit acceptances to the
plan, to January 16, 2017, and March 17, 2017, respectively.

The Debtors previously asked the Court to extend their exclusive
period to file a chapter 11 plan to March 7, 2017, and their
exclusive period to solicit acceptances to the plan to May 8, 2017.
The Debtors related that they had used their initial Exclusive
Periods to stabilize their operations, obtain Court approval of
important operational programs, file schedules and statements of
financial affairs for all Debtors, and finalize a new long-term
business plan.

           About Linn Energy

Headquartered in Houston, Texas, Linn Energy, LLC, and its
affiliates are independent oil and natural gas companies.  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.
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 Paul M. Basta, Esq., Stephen E. Hessler,
Esq., Brian S. Lennon, Esq., James H.M. Sprayregen, Esq., and
Joseph M. Graham, Esq., at 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.

Judge David R. Jones presides over the cases.

The Office of the U.S. Trustee has appointed five creditors of Linn
Energy LLC to serve on the official committee of unsecured
creditors.


M&R CHARLESTON: Court OKs Oct. 3 Plan Filing Period Extension
-------------------------------------------------------------
Judge Basil H. Lorch III of the U.S. Bankruptcy Court for the
Southern District of Indiana extended M&R Charleston Station Inc.,
d/b/a The Spaghetti Shop, f/k/a M&R Outer Loop Inc.'s exclusive
periods for filing and soliciting acceptances of a plan of
reorganization, to October 3, 2016, and November 2, 2016,
respectively.

The Debtor previously asked the Court to extend its exclusive
periods to file a plan of reorganization and to solicit acceptances
to the plan, contending that it needed additional time to put
together projections in support of its Plan.

              About M&R Charleston Station

M&R Charleston Station, Inc. d/b/a The Spaghetti Shop, f/k/a M&R
Outer Loop Inc. filed a Chapter 11 petition (Bankr. S.D. Ind. Case
No. 16-90506), on April 4, 2016.  The petition was signed by Gary
Rosenberg, president.  The Debtor is represented by  Neil C. Bordy,
Esq., at Seiller Waterman LLC.  The Debtor estimated assets at $0
to $50,000 and liabilities at $100,001 to $500,000 at the time of
the filing.


MAGNETATION LLC: Judge Clears Way for Shutdown
----------------------------------------------
The American Bankruptcy Institute, citing John Myers of Duluth News
Tribune, reported that a federal judge may seal the fate of
troubled Magnetation Inc., clearing the way for the company to
"wind down operations" permanently and laying out terms to
terminate the company's lingering bankruptcy.

According to the report, Judge William Fisher sets the stage for
the final dissolution of Magnetation, which has been mired in
Chapter 11 bankruptcy proceedings since May 2015.

Judge Fisher, in approving the "global settlement agreement" to the
Magnetation bankruptcy, set a Sept. 27 hearing to end the
bankruptcy case and terminate the company, including selling off
assets, the report related.

"The settlement agreement contemplates that the debtors
(Magnetation) will cease all remaining operations on or prior to
Oct. 14," the judge notes in the motion, setting the end for what
had been a rising star in Minnesota's iron ore business, the report
further related.

Under the settlement agreement, AK Steel would pay $32 million to
the creditors to terminate a purchase agreement for Magnetation
pellets, an agreement that has been subject of ongoing legal
action, the report said.  AK would also have the right to bid on
Magnetation assets, as would other investors, once the bankruptcy
is final, the report added.

                   About Magnetation LLC
      
Magnetation LLC -- http://www.magnetation.com/-- is a joint  
venture between Magnetation, Inc. (50.1% owner) and AK Iron
Resources, LLC, an affiliate of AK Steel Corporation (49.9%
owner).

Magnetation LLC recovers high-quality iron ore concentrate from
previously abandoned iron ore waste stockpiles and tailings
basins.

Magnetation LLC owns iron ore concentrate plants located in
Keewatin, MN, Bovey, MN and Grand Rapids, MN, and an iron ore
pellet plant in Reynolds, IN.

Magnetation LLC and four subsidiaries sought Chapter 11 bankruptcy
protection (Bankr. D. Minn. Lead Case No. 15-50307) in Duluth,
Minnesota, on May 5, 2015, after reaching a deal with secured
noteholders on a balance sheet restructuring.  The cases are
assigned to Chief Judge Gregory F Kishel.

The Debtors have tapped Davis Polk & Wardwell LLP and Lapp, Libra,
Thomson, Stoebner & Pusch, Chtd., as attorneys; Blackstone
Advisory
Partners LP as financial advisor; and Donlin, Recano & Company,
Inc., as the claims agent.

The U.S. Trustee for Region 12 appointed three creditors of
Magnetation LLC to serve on an official committee of unsecured
creditors.


MARBURN STORES: Sale of Substantially All Assets for $793K Gets OK
------------------------------------------------------------------
Judge Vincent F. Papalia of the U.S. Bankruptcy Court for the
District of New Jersey authorized Marburn Stores, Inc., to sell
substantially all to assets to G-MAXX Group, LLC, for $792,581.

A hearing was held on Aug. 23, 2016 at 2:00 p.m.

The sale is free and clear of liens, claims, encumbrances, and
interests.

Judge Papalia held that the assumption and assignment of the leases
as modified (where applicable) are integral to the G-MAXX APA, are
in the best interests of the Debtor and its estate, and represents
the reasonable exercise of the Debtor's sound business judgment.
Accordingly, the Debtor is authorized to assume and assign the
leases to Buyer or its designee, as provided in the G-MAXX APA.

Payment of the cure amounts as set forth in the G-MAXX APA or
pursuant to separate agreement between the landlords and G-MAXX
will be in full satisfaction and cure of any and all defaults under
the leases, whether monetary or non-monetary.

An adjourned cure objection may be resolved after the closing date
provided that the Debtor will maintain a reserve in the full amount
of the cure as set forth in the G-MAXX APA. The fact that the cure
amount has not been finally resolved by the closing date will not
affect the validity of the assignment of the lease to Buyer under
the G-MAXX APA and the Order.

With respect to the lease with Bonanno Real Estate Group11, LP,
concerning the Debtor's office/warehouse located at 13 Division
Street, Suite A, Fairview, New Jersey, the Debtor will pay to
Bonanno $4,891, which amount represents onethird of the tenant
share of the outstanding tax invoice for the Third Quarter of the
year 2016 ("Bonanno Real Estate Tax Reimbursement").

With respect to the lease with National Realty & Development
Corporation, concerning store no. 29, located at 4975 Stelton Rd.,
South Plainfield, New Jersey, the Debtor will pay to National
Realty $391, which amount represents outstanding administrative
rent ("Additional Admin Rent").

The Bonanno Real Estate Tax Reimbursement and the Additional Admin
Rent will be the allowed administrative claims which will be paid
not later than 5 days after the Closing on the G-MAXX APA.

The Leases will be transferred to, and remain in full force and
effect for the benefit of Buyer or its designee in accordance with
their respective terms. There will be no rent accelerations,
escalations, assignment fees, increases or any other fees charged
to Buyer or the Debtor as a result of the assumption or assignment
of the leases. The leases assigned to Buyer or its designee under
the Order will include all leases on schedule 1(a)(v) of the G-Maxx
APA whether the named tenant on the lease is the Debtor or in the
name of Nat-I-Lene, Inc.           

                   About Marburn Stores

Marburn Stores, Inc. specializes in curtains, draperies and window

treatments, and also carries a complete line of home furnishings.

Marburn Stores filed a Chapter 11 petition (Bank. D. N.J. Case No.

15-14411) on March 13, 2015.  The Debtors disclosed total assets of

$7.25 million and debts of $2.85 million.  The petition was signed

by Edwin F. Hund, president and CEO.

The Debtor is represented by Donald W Clarke, Esq., and Daniel
Stolz, Esq., at Wasserman, Jurista & Stolz, P.C.


MAURA E. LYNCH: Unsecureds To Be Paid in Full Under Plan
--------------------------------------------------------
Maura E. Lynch filed with the U.S. Bankruptcy Court for the Eastern
District of New York a disclosure statement describing the Debtor's
amended plan of reorganization.

Under the Plan, holders of allowed Class 4 - General Unsecured
Claims will receive, in full and final satisfaction, settlement,
and discharge and in exchange for each Allowed General Unsecured
Claim, payment, in full, after payment of allowed administrative
claims, including fee claims, plus interest at the federal judgment
rate.  Class 4 is impaired and, therefore, holders of Class 4
Claims are entitled to vote to accept or reject the Plan.

The payments due under the Plan will be paid from the proceeds of
the sale of the Debtor's Harbor Drive property, the Debtor's future
income, and the sale of other real property as necessary to provide
the funding for the Plan.

To the extent that a holder of Class 2(a), 2(b), or 2(c) Claim
opposes the Plan, the Debtor may determine to sell the property
securing the mortgage to pay the secured claim or sell other
property to raise funds sufficient to cure the arrears on the
objecting mortgagee's mortgage and reinstate the mortgage in
accordance with section 1124 of the Bankruptcy Code.

The Amended Plan was filed by the Debtor's counsel:

     SILVERMANACAMPORA LLP
     100 Jericho Quadrangle, Suite 300
     Jericho, New York 11753
     Tel: (516) 479-6300
     E-mail: GLuckman@SilvermanAcampora.com

                       About Maura E. Lynch

Maura E. Lynch and Stephen S. Vaccaro were each 25% percent owners
in Ivy Realty, LLC, and Absolutely Appetizing, Inc.  In addition,
the Debtor, a licensed real estate broker, operated a business
whereby the Debtor would rent her various properties in desirable
vacation areas to short and long-term tenants.

The Debtor filed a voluntary petition for relief under Chapter 11
of the Bankruptcy Code (Bankr. E.D.N.Y. Case No. 15-74795) on Nov.
9, 2015.  Since that time, the Debtor has operated as a debtor in
possession pursuant to sections 1107(a) and 1108 of the Bankruptcy
Code.  No examiner or trustee has been appointed in the case.


MAXUS ENERGY: Defends Environmental Settlement with Parent
----------------------------------------------------------
Patrick Fitzgerald, writing for The Wall Street Journal Pro
Bankruptcy, reported that Maxus Energy Corp. is defending a $130
million settlement with its corporate parent over responsibility
for the cleanup of New Jersey's contaminated Passaic River.

According to the report, Maxus's deal with YPF, Argentina's
state-owned oil company, triggered a protest from Occidental
Petroleum Corp.'s chemical subsidiary, known as OxyChem, which has
been sparring with YPF for years over who should be on the hook for
cleaning up the river.

Lawyers for Maxus acknowledged the settlement "has engendered
controversy" but maintained it was the best option "when compared
to the risks of losing everything at trial and garnering no value
for the debtors’ creditors," the report related.

"A fixed settlement payment of $130 million, along with funding of
the costs of these bankruptcy cases, was of greater value to the
debtors' estates than the uncertain prospect of potentially
recovering nothing at all," Maxus lawyers said in a filing with the
U.S. Bankruptcy Court in Wilmington, Del., the report further
related.

Under the deal, which requires court approval, YPF has agreed to
provide Maxus with $130 million in return for Maxus dropping any
"alter ego" claims it may have against its parent for cleaning up
the river, the report said.

OxyChem contends that YPF is legally responsible as an alter ego
for the environmental liabilities owed by its subsidiary, Maxus,
the report added.

               About Maxus Energy



Maxus Energy Corporation and four of its
subsidiaries
filed
voluntary petitions for reorganization under Chapter
11
(Bankr. D. Del., Case No. 16-11501) on June 17, 2016.  The
Debtors intend to use the breathing spell afforded by the
Bankruptcy Code to decide whether their existing environmental
remediation operations and oil and gas operations can be
restructured as a sustainable, stand-alone enterprise.



The Debtors have engaged Young Conaway Stargatt &
Taylor, LLP
as local counsel, Morrison & Foerster LLP as general
bankruptcy
counsel, Zolfo Cooper, LLC as financial advisor
and
Prime Clerk LLC as claims and noticing agent, all are subject to
the Bankruptcy Court's approval.

On July 7, 2016, the United States Trustee for the District of
Delaware filed Notice of Appointment of Committee of Unsecured
Creditors.  The Committee selected Schulte Roth & Zabell LLP as
counsel, and Cole Schotz as Delaware co-counsel.  Berkeley
Research
Group, LLC serves as financial advisor for the Committee.


MED-X TRANS: Exit Plan to Pay Unsecured Creditors in Full
---------------------------------------------------------
General unsecured creditors of Med-X Trans, Inc., will receive full
payment of their claims, according to the latest disclosure
statement explaining the company's Chapter 11 plan of
reorganization.

Class 6 general unsecured claims in the total amount of $350,000
will be paid in full over eight years.  Creditors will receive a
monthly payment of $3,645, without interest, starting January 30,
2018.

Med-X Trans had initially proposed to make a monthly payment of
$4,166 to general unsecured creditors.  

Payments under the plan will be funded by future profits of Med-X
Trans, according to the disclosure statement filed with the U.S.
Bankruptcy Court for the District of Connecticut.

A copy of the latest disclosure statement is available for free at
https://is.gd/vXeeOh

                        About Med-X Trans

Headquartered in Plainfield, Connecticut, Med-X Trans, Inc., dba
Med-X Transportation, Inc., dba Med-X Enterprises, was formed in
2012.  Its principal business is providing transportation to
clients for non-emergency medical appointments.  Its primary client
is the State of Connecticut, Department of Social Services.  These
services are coordinated through a third-party brokerage company
hired by the State of Connecticut known as Logisticare Solutions,
LLC.  Trans Inc. maintains a fleet of approximately 18 vehicles
used in providing transportation services to those clients as
requested by Logisticare Solutions, LLC.  The Debtor leases its
business premises located at 226 Norwich Road, Plainfield,
Connecticut, from unrelated third parties.  Trans Inc. also
provides non-emergency medical transport services to the United
States Coast Guard Academy in New London. The fleet vehicles are
serviced and repaired through Trans, Inc.'s in house garage and
repair facility.  As ancillary business, Trans Inc. and its
affiliated company, Med-X Enterprises, provides vehicle repair
services to the general public, repairs and sells used vehicles and
provides towing services as an authorized provider to the American
Automobile Association.

The Debtor filed for Chapter 11 bankruptcy protection (Bankr. D.
Conn. Case No. 15-21942) on Nov. 6, 2015, listing $486,750 in total
assets and $1.24 million in total liabilities.  The petition was
signed by Hugh Viele, treasurer.

Judge Ann M. Nevins presides over the case.

Anthony S. Novak, Esq., at Novak Law Office, P.C., serves as the
Debtor's bankruptcy counsel.


MILLAR WESTERN: S&P Revises Outlook to Neg. & Affirms 'B-' CCR
--------------------------------------------------------------
S&P Global Ratings said it revised its outlook on Millar Western
Forest Products Ltd. to negative from stable and affirmed its 'B-'
long term corporate credit rating on the company.

At the same time, S&P Global Ratings affirmed its 'B-' issue-level
rating on the company's US$210 million senior unsecured notes due
2021.  The '4' recovery rating on the debt is unchanged, and
indicates average (30%-50%; in the lower half of the range)
recovery in a default scenario.

"The outlook revision primarily reflects the weaker-than-expected
operating results Millar Western reported through the first half of
2016, and increasingly uncertain market conditions," said S&P
Global Ratings credit analyst Alessio Di Francesco.

"In our view, there is an elevated risk that the company will not
meet our EBITDA interest coverage forecast of at least 1.5x in
2018, or achieve liquidity sufficient to maintain the rating over
the next 12 months.  We believe volatile lumber and pulp prices,
and uncertain outcome of softwood lumber trade negotiations between
Canada and the U.S. remain key risks to the company's earnings and
cash flow, and Millar Western's ability to maintain credit measures
consistent with the rating," S&P said.

"We assess Millar Western's business risk profile vulnerable,
reflecting the company's participation in the highly cyclical,
fragmented, and competitive lumber and pulp manufacturing markets
within which it has a very small share and limited pricing power.
With sales about equally split between lumber and pulp, and three
production facilities located in Alberta within 100 kilometers of
each other, we consider the company to have weak product and
geographic diversity.  In our view, the geographic concentration of
its facilities exposes Millar Western to unexpected changes in
pricing and availability of its fiber and energy inputs, which
could result from external factors such as regulatory changes or
infestation," S&P noted.

S&P's business risk profile assessment also incorporates its view
that Millar Western's high operating leverage and volatile pricing
environment will continue to result in high earnings fluctuations.


The negative outlook reflects the weaker-than-expected operating
results Millar Western reported through the first half of 2016, and
increasingly uncertain market conditions.  In S&P's view, there is
an elevated risk that the company will not meet its EBITDA interest
coverage forecast of at least 1.5x beyond 2017, or achieve
liquidity sufficient to maintain the rating over the next 12
months.  S&P believes volatile lumber and pulp prices, and an
uncertain outcome of softwood lumber trade negotiations between
Canada and the U.S. remain key risks to the company's earnings and
cash flow, and Millar Western's ability to maintain credit measures
consistent with the rating.

S&P could lower its ratings within the next 12 months if it expects
adjusted EBITDA interest coverage will be below 1.5x beyond 2017 or
if S&P's view of the company's liquidity deteriorates.  In this
scenario, S&P expects Millar Western would likely generate negative
annual discretionary cash flow beyond 2017, which could lead S&P to
consider the company's financial commitments unsustainable in the
long term.  This could occur if average lumber prices do not
improve in line with S&P's expectations or if the U.S. department
of commerce imposes tariffs on softwood lumber imports from Canada
that are more punitive than S&P's base-case assumption.

S&P could revise its outlook to stable within the next 12 months if
its view of Millar Western's liquidity improves and adjusted EBITDA
interest coverage increases above 1x with strong prospects that it
will continue to improve.


MOUNSEF INTERNATIONAL: Can Use Bechara Srour Cash Until Nov. 8
--------------------------------------------------------------
Judge Jacqueline P. Cox of the U.S. Bankruptcy Court for the
Northern District of Illinois authorized Mounsef International,
Inc. to use cash collateral belonging to Bechara Srour on an
interim basis, until Nov. 8, 2016.

The approved monthly Budget provides for total expenses in the
amount of $115,660

A status hearing on the Debtor's use of cash collateral is
scheduled on Nov. 1, 2016 at 10:00 a.m.

A full-text copy of the Interim Order, dated Aug. 24, 2016, is
available at https://is.gd/xSgwS4

                 About Mounsef International

Mounsef International, Inc. filed a chapter 11 petition (Bankr.
N.D. Ill. Case No. 15-35685) on Oct. 20, 2015.  The petition was
signed by George Mounsef, sole shareholder.  The Debtor is
represented by Robert R. Benjamin, Esq., at Golan & Christie, LLP.
The case is assigned to Judge Jacqueline P. Cox.  The Debtor
disclosed total assets at $99,104 and total liabilities at $2.74
million.


NAB HOLDINGS: S&P Revises Outlook on 'B+' CCR to Stable
-------------------------------------------------------
S&P Global Ratings revised its outlook on its 'B+' corporate credit
rating to stable from negative and affirmed all ratings on NAB
Holdings LLC, including S&P's 'B+' corporate credit rating.

S&P affirmed the 'B+' issue-level rating on the company's secured
credit facility.  The recovery rating remains '3', indicating S&P's
expectation for meaningful recovery (50% to 70%; upper half of the
range) for debtholders in the event of a payment default.

"The outlook revision reflects improved covenant cushion under the
company's leverage covenant and stronger second quarter
performance," said S&P Global Ratings credit analyst Peter
Bourdon.



NEW WORLD CONDOMINIUM: Has Until Oct. 18 to File Plan
-----------------------------------------------------
Judge Robert A. Mark of the U.S. Bankruptcy Court for the Southern
District of Florida extended New World Condominium Apartments IV
Condominium Association, Inc.'s exclusive period to file a plan of
reorganization for a period of 60 days, or up to October 18, 2016.

All other related deadlines were also extended for a period of 60
days.

The Debtor previously asked the Court to extend its exclusive
period to file a plan, as well as all related deadlines, for 60
days, contending that it still sought to negotiate with certain of
its creditors prior to filing a plan, in order to same time and
resources.

                  About New World Condominium Apartments IV
                          Condominium Association

New World Condominium Apartments IV, a not-for-profit condominium
association, sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. S.D. Fla. Case No. 16-12401) on Feb. 22, 2016.  The
petition was signed by William Puckett, president.  The Debtor is
represented by Jay M. Gamberg, Esq., at Gamberg & Abrams.  The
Debtor estimated assets at $100,001 to $500,000 and liabilities at
$500,001 to $1 million at the time of the filing.


NINE WEST: Moody's Lowers CFR to Caa2, Outlook Negative
-------------------------------------------------------
Moody's Investors Service downgraded Nine West Holdings, Inc.'s
Corporate Family Rating to Caa2 from Caa1, Probability of Default
Rating to Caa2-PD from Caa1-PD, Senior Secured Bank Credit Facility
to B3 from B1, and Senior Unsecured Bank Credit Facility to Caa2
from Caa1.  Moody's affirmed the company's other Senior Unsecured
debt at Caa3.  The rating outlook is negative.

The downgrade results from ongoing declines in Nine West's revenue
and earnings, with EBITDA (as defined by the company) falling
further to $52 million for the LTM period ending July 2, 2016,
which compares to EBITDA of $90 million in fiscal 2015.  Balance
sheet leverage (calculated using unadjusted debt and company
EBITDA) exceeded 28 times for the twelve month period ended
July 2, 2016.  At this level of performance, the company's capital
structure is unsustainable.  Thus, the company faces a heightened
probability of default, including the potential for a distressed
exchange.

Nine West has taken corrective actions to improve profitability,
such as closing underperforming stores, reducing administrative,
real estate and other expenses and improving product quality.
However, Moody's expects improvement will take time as challenges
still persist within the company's moderate department store
customer base and as well as its own retail business.

Despite the very high leverage, Nine West's liquidity remains
adequate.  At current performance levels, Moody's expects slightly
negative free cash flow after capital expenditures.  Expected
benefits from recent cost savings initiatives and cash inflows from
working capital should provide some offset to weak earnings over
the near term.  Availability under the company's revolver is
expected to remain sufficient to fund operations, including
seasonal working capital needs and interest expense, over the next
twelve months.  Availability was recently bolstered by the
elimination of the springing fixed charge covenant under the
agreement.

Moody's took these rating actions:

Issuer: Nine West Holdings, Inc.
  Corporate Family Rating, Downgraded to Caa2 from Caa1
  Probability of Default Rating, Downgraded to Caa2-PD from Caa1-
   PD
  Senior Secured Bank Credit Facility due 2019, Downgraded to B3
   (LGD2) from B1 (LGD2)
  Senior Unsecured Bank Credit Facility due 2020, Downgraded to
   Caa2 (LGD4) from Caa1 (LGD4)
  8.25% Senior Unsecured Notes due 2019, Affirmed at Caa3 (LGD5)
  Outlook changed to Negative

Issuer: Jones Group Inc. (The)
  6.875% Senior Unsecured Notes due 2019, Affirmed at Caa3 (LGD5)
  6.125% Senior Unsecured Bonds due 2034, Affirmed at Caa3 (LGD5)

                        RATINGS RATIONALE

Nine West's Caa2 Corporate Family Rating reflects the company's
weak operating performance and very high debt burden, with
unadjusted debt to EBITDA in excess of 28 times.  At current
performance levels, the company's capital structure is
unsustainable and its probability of default, including the
potential for a distressed exchange, is high.  The rating also
reflects the company's high exposure to the challenged moderate
price department store sector which Moody's believes will make
revenue growth difficult.  The company's retail business, which
account for a meaningful portion of revenues, have seen negative
trends for a number of years and has yet to demonstrate revenue and
earnings stability.  Recent actions to reduce operating expenses
should to partly offset these challenges.  The rating also
considers that the company's liquidity remains adequate, with no
significant debt maturities until 2019 and sufficient capacity
under its revolving credit facility to fund operations and to meet
seasonal working capital needs.

The negative rating outlook reflects the heightened risk of default
if operations do not materially improve.  Ratings could be lowered
if the company's liquidity position were erode for any reason, or
the company's probability of default were to otherwise increase.
Ratings could be upgraded if the company makes sustained progress
improving operating performance such that leverage began to
approach more sustainable leverage levels and its probability of
default decreases.  Quantitatively ratings could be upgraded if
interest coverage improved to around 1.0 time and debt/EBITDA fell
below 8 times while maintaining a good liquidity profile.

Headquartered in New York, NY, Nine West Holdings is the surviving
corporation following the April 2014 acquisition of The Jones
Group, Inc. by affiliates of Sycamore Partners.  Nine West has
revenue approaching $1.7 billion.  Its most significant brands
include Nine West, Gloria Vanderbilt, L.e.i, and Easy Spirit.


NINE WEST: S&P Lowers CCR to 'CCC' on Poor Operational Performance
------------------------------------------------------------------
S&P Global Ratings lowered its corporate credit rating on New York
City-based footwear and jeanswear company Nine West Holdings Inc.
to 'CCC' from 'CCC+'.  The outlook is negative.

"At the same time, we lowered our issue-level rating on the
company's secured first-lien debt to 'B-' from 'B'; the recovery
rating remain unchanged at '1', indicating our expectation of very
high (90%-100%) recovery in the event of payment default.  We also
lowered our issue-level rating on the company's senior unsecured
term loan to 'CCC-' from 'CCC+', with the recovery rating changing
to '5', indicating modest recovery (10%-30%, high end of the range)
in the event of default.  Finally, S&P lowered its issue-level
rating on the company's senior unsecured notes to 'CC' from 'CCC-'.
The recovery rating is unchanged at '6', indicating negligible
(0%-10%) recovery in the event of a default.

The downgrade reflects S&P's view of an increased likelihood that
Nine West will need to complete a distressed debt restructuring
wherein investors will receive less value than the promise of the
original securities.  This is a result of the company's poor
operating performance and negative cash flows, which, combined with
its high debt burden, significantly weighs on its ability to
weather further operational missteps or weak retail sales.

"We previously expected the company would improve its revenue and
EBITDA margin in 2016," S&P Global Ratings analyst Suyun Qu said.
"However, slow growth amid a still challenged retail environment
has provided very little room to meaningfully improve the company's
operating performance and cash flow generation.  S&P now projects
2016 to remain very weak and Nine West's adjusted debt to EBITDA
will weaken to around a very high 20x, which primarily reflects
meager EBITDA and a high debt burden."

S&P do not see liquidity as a key constraint to ratings.  S&P views
the amendment of its asset-based loan (ABL) credit agreement, which
reduced the commitment of the revolving credit facility to $250
million, from $275 million, and provides for a $25 million
"first-in, last-out" term loan facility, to be liquidity neutral.
The elimination of the fixed charge coverage ratio springing
covenant provides the company with full access to its ABL facility
given a currently adequate borrowing base.  S&P believes the
company will have a big enough borrowing base in the next 12 months
for the company to access its ABL.

The negative outlook reflects S&P's view that the weak retail
environment, expectations of continued operational
underperformance, and high debt leverage is likely to drive Nine
West towards a debt restructuring or exchange over the next year.
However, S&P do not foresee a near-term liquidity squeeze, and it
believes the company would have access to its revolver in next 12
months.

S&P could lower the ratings if a distressed exchange or redemption
were announced or appeared inevitable within six months.  Upon the
consummation of a distressed exchange, S&P would lower the
corporate credit rating to 'SD' (selective default) and the
affected issue-level ratings to 'D'.

S&P could also lower the rating if the company's performance
significantly deteriorates and it is unable to reduce its ABL
revolver balance following its peak working capital quarters, such
that availability under the revolver will be limited and liquidity
issues arise.

S&P could raise the rating if it believed a distressed exchange
were unlikely over the next 12 months, which most likely would be
the result of an unexpected turnaround in operations or an unlikely
cash equity infusion by its owner without a capital structure
initiative.  An upgrade would also require S&P's expectation that
the company can address 2019 maturities absent a subpar exchange.



NO PLACE LIKE HOME: Exit Plan to Pay Unsecured Creditors in Full
----------------------------------------------------------------
General unsecured creditors of No Place Like Home, Inc., will
receive full payment of their claims, according to the latest
disclosure statement explaining the company's Chapter 11 plan of
reorganization.

Under the plan, each Class 2 general unsecured creditor, which
holds a claim of $3,000 or less, will be paid in full, with 3%
interest per annum, on any unpaid balance of each its claim.

NPLH estimates the total amount of all Class 2 claims to be about
$73,156.

The plan likewise proposes to pay Class 3 general unsecured claims
in full, with 3% interest per annum, on any unpaid balance of each
claim.  The company estimates the total amount of all Class 3
claims to be about $2.67 million.

The restructuring plan will be funded in part by contributions from
NPLH President John Flood and Mary Lynn Flood, the company's owner.
NPLH estimates a total contribution of $950,000, according to the
disclosure statement filed with the U.S. Bankruptcy Court for the
Western District of Tennessee.

A copy of the disclosure statement is available for free at
https://is.gd/r9KvLI
  
                    About No Place Like Home

No Place Like Home, Inc., based in Collierville, Tenn., filed a
Chapter 11 petition (Bankr W.D. Tenn. Case No. 15-31133) on Nov.
20, 2015.  Hon. David S. Kennedy presides over the case.  E.
Franklin Childress, Jr., Esq., and M. Ruthie Hagan, Esq., at Baker,
Donelson, Bearman, Caldwell & Berkowitz P.C., serve as counsel to
the Debtor.  In its petition, the Debtor estimated $1 million to
$10 million in assets and liabilities.  The petition was signed by
John Flood, president.


OAK KNOLL: Broker Not Entitled to Commission, First Circuit Rules
-----------------------------------------------------------------
In the appeals case ROBERT HARRIS, Appellant, v. ROSA SCARCELLI and
OAK KNOLL ASSOCIATES, L.P., Appellees, No. 15-2189 (1st Circ.), the
United States Court of Appeals for the First Circuit affirmed the
order granting Summary Judgment in favor of Oak Knoll.

This case began when the partnership sought to sell some apartment
buildings that it owned in Norwalk, Connecticut. To that end, Oak
Knoll enlisted the services of Robert Harris, a real estate broker.
Through a series of events and lawsuits, Oak Knoll eventually was
able to successfully sell its apartment buildings to Navarino
Capital Management, LLC.  But although Navarino got the property
and Oak Knoll got its money, Harris received nothing for his
efforts. Oak Knoll never paid him.

Harris filed claims to recover his real estate broker's commission
that he claims is owed to him.  Oak Knoll moved for summary
judgment, arguing that there was no material dispute of fact and
that Harris was -- as a matter of law -- not owed a commission.
Following oral argument, the bankruptcy court granted the motion
and denied Harris's claims.  The bankruptcy court's decision, in
turn, was appealed to United States District Court for the District
of Maine, which affirmed the grant of summary of judgment.

In seeking to recover his unpaid commission, Harris invokes two
provisions of the Bankruptcy Code.  First, he cites 11 U.S.C.
Section 501, arguing that he is owed a commission under the terms
of his contract with Oak Knoll.  Second, Harris argues that he is
entitled to it as a form of equitable relief under 11 U.S.C.
Section 105(a).

On the first argument, the First Circuit pointed out that the
listing agreement unambiguously requires that a sale take place in
order for Harris to earn his commission.  The bankruptcy court thus
correctly determined that Harris was not entitled to his commission
based on the acceptance of an offer in 2011, the First Circuit
said.

On the second argument, the First Circuit found that Harris makes
no effort to argue that he so complied with Conn. Gen. Stat.'s
formalities.  As such, this argument is waived.

The First Circuit added, "Some may find this result unfair,
particularly insofar as the partnership filed an application to
retain Harris's services and asked Harris to communicate with
Navarino (knowing that the retention application had not yet been
approved), only to withdraw the pending application after Harris
did so. And some may be especially troubled by Oak Knoll's conduct
given the bankruptcy court's conclusion that the partnership was in
a position to make "a 100% payment to all creditors, with money
left over to pay out to [the partnership's] insiders." We are not,
however, asked to decide whether Oak Knoll is deserving of
opprobrium, but whether Oak Knoll was entitled to summary judgment.
And for the reasons stated, we hold that it was."

A full-text copy of the Opinion dated August 19, 2016 is available
at https://is.gd/gk9Ng7 from Leagle.com.

James F. Molleur, Esq. with whom Molleur Law Office was on brief,
for appellant.

Daniel L. Cummings, Esq. -- dcummings@nhdlaw.com -- whom Norman,
Hanson & DeTroy, LLC was on brief, for appellee Rosa Scarcelli.

Oak Knoll Associates, L.P., in Portland, Maine, filed for Chapter
11 bankruptcy (Bankr. D. Maine Case No. 13-20205) on March 18,
2013.  Richard P. Olson, Esq., at Perkins Olson, P.A., serves as
counsel.  The Debtor scheduled assets of $6,700,000 and
liabilities of $3,529,350.


OCZ TECHNOLOGY: SEC Bans Ex-Crowe Horwath Auditor Thomas Dulek
--------------------------------------------------------------
Jody Godoy, writing for Bankruptcy Law360, reported that the U.S.
Securities and Exchange Commission banned Thomas Dulek, a former
partner at accounting firm Crowe Horwath LLP, from auditing public
companies for his failure to catch an alleged accounting fraud that
sent OCZ Technology Group Inc. into bankruptcy.  The SEC claims
that Dulek, formerly Crowe Horwath's engagement partner for OCZ,
did not use professional skepticism when he signed off on the
hardware manufacturer's 2011 and 2012 financial statements.

                             About OCZ

San Jose, Calif.-based OCZ Technology Group, Inc. (Nasdaq: OCZ)
designs, manufactures, and distributes high-performance solid-
state storage solutions and premium computer components.

OCZ and two affiliates on Dec. 2, 2013, filed for Chapter 11
protection (Bankr. D. Del. Lead Case No. 13-13126) with a deal to
sell all assets under 11 U.S.C. Sec. 363 to Toshiba Corporation
for $35 million.

As of the bankruptcy filing, the Debtors had funded indebtedness
of $29.3 million and general unsecured trade obligations of $31.4
million.

The Debtors are represented by Mayer Brown LLP's Sean T. Scott,
Esq., as counsel and Young Conaway Stargatt & Taylor LLP's Michael
R. Nestor, Esq., Matthew B. Lunn, Esq., and Jaime Luton Chapman,
Esq., as Delaware local counsel.  Deutsche Bank is the Debtors'
investment banker.  Mike Rizzo Jr. at RAS Management Advisors,
LLC, serves as financial advisors to the Debtors.  The Hon. Peter
J. Walsh presides over the case.

Kelley Drye & Warren LLP's Eric R. Wilson, Esq., Jason R. Adams,
Esq., and Gilbert R. Saydah Jr., Esq., serve as counsel to the
official committee of unsecured creditors, and Greenberg Traurig,
LLP's Dennis A. Meloro, Esq. serves as local counsel.

OCZ Technology, on Jan. 17, 2014, received approval from the
Bankruptcy Court to sell substantially all of its assets to
Toshiba Corporation for $35 million.  OCZ Technology changed its
name to ZCO Liquidating Corporation.

The Troubled Company Reporter, on Aug. 12, 2014, reported that the
U.S. Bankruptcy Court confirmed OCZ Technology Group's Chapter 11
Plan of Liquidation, dated May 7, 2014.


OLD REDFORD: S&P Lowers Rating on Revenue Bonds to 'BB-'
--------------------------------------------------------
S&P Global Ratings lowered its rating on Michigan Public
Educational Facilities Authority's series 2005A and Michigan
Finance Authority's series 2010A limited obligation revenue bonds,
both issued on behalf of Old Redford Academy, to 'BB-' from 'BB'.
The outlook is stable.

"The downgrade reflects our view of Old Redford's weakened
operations for fiscal 2015, coupled with variable financial
performance in recent years, resulting in a credit profile that is
currently no longer commensurate with the 'BB' rating level," said
S&P Global Ratings credit analyst Brian Marshall.

While S&P expects some operating improvement in fiscal 2016 and
enrollment growth, S&P believes that these elements are captured
within the 'BB-' rating level.

The 'BB-' rating reflects S&P's assessment of Old Redford's:

   -- Anticipated improvement in fiscal 2016 operations from
      fiscal 2015 audited results and adequate balance sheet
      metrics for the rating category, with 34 days' cash on hand
      and a 7.5% cash-to-debt ratio in fiscal 2015;

   -- Below-average academic performance compared to state
      averages, and an overall state accountability scorecard
      ranking of "red," indicating component requirements have not

      been met;

   -- Recent three-year charter renewal, although the school has a

      history of successful charter renewals, while the
      authorizer, Central Michigan University, cites a stable
      working relationship;

   -- Limited revenue pledge restricting use of per-pupil state
      aid for debt service to no more than 20% of that
      appropriated; and

   -- The inherent uncertainty associated with charter renewals,
      given that the bonds' final maturity exceeds the time
      horizon of the existing charter.

These weaknesses are offset by S&P's view of the academy's:

   -- Sizable student Long operating history;
   -- Base and generally stable demand profile despite the recent
      enrollment decline; and
   -- Full-faith-and-credit pledge to make lease payments in
      support of debt service via a state aid pledge agreement.

In 1999, Old Redford Academy was founded to help fulfill the
Clothilde R. Smith Charitable Foundation's mission of bringing
quality education and community support to inner-city children.
Located in Detroit, the academy commenced operations during the
1999-2000 school year as a kindergarten-through-eighth grade
school.  It now serves 1,874 students in pre-kindergarten through
grade 12.

The stable outlook reflects S&P's view of that academic performance
will improve, enrollment will stabilize, operating performance will
move toward break-even, and financial resources will remain
adequate for the rating.

S&P could lower the rating further if enrollment deteriorates from
current levels, operating deficits continue causing MADS coverage
to fall below levels supported by the rating, and balance-sheet
metrics fall below levels supported by the rating.  S&P could also
lower the rating if the risk of charter revocation or nonrenewal
increases for any reason, including the failure to improve academic
performance.

Although a positive rating action is unlikely during the one-year
outlook period, S&P would view positively a stabilization of
enrollment, progress in obtaining break-even results, improvement
in academic performance, and improvement in financial resources.



OUTER BANKS: Court Dismisses Suit vs. Tinkham
---------------------------------------------
Judge Stephani W. Humrickhouse of the United States Bankruptcy
Court for the Eastern District of North Carolina, Greenville
Division, dismissed the adversary case OUTER BANKS VENTURES, INC.,
RICHARD C. WILLIS, and RICHARD A. BRINDLEY, Plaintiffs, v. J.
JEFFREY TINKHAM, J. JEFFREY TINKHAM FAMILY TRUST, and WILLIAM
BRUMSEY, IV, TRUSTEE, Defendants, Adversary Proceeding No.
16-00009-5-SWH-AP (Bankr. E.D.N.C.), in light of the court's
finding that the plaintiffs have not plausibly alleged the
existence of duress, they have not stated a viable defense to
enforcement of the waiver provision contained within the 2013 Note
which is enforceable, and it operates as a bar to the plaintiffs'
claims in their entirety.

The matter before the court is the motion to dismiss all claims in
the Amended Complaint in the above-captioned adversary proceeding,
filed by defendants J. Jeffrey Tinkham and J. Jeffrey Tinkham
Family Trust.

Prior to 2009, Plaintiffs Richard A. Brindley and Richard C. Willis
were engaged in efforts to develop property and wastewater
treatment operations in Salvo, North Carolina, as well as Dare and
Currituck Counties in North Carolina, in which defendant J. Jeffrey
Tinkham, who is Willis' brother-in-law, became involved.  Prior to
his participation in the projects, Tinkham allegedly gave legal
advice to Brindley, Willis and the corporations they controlled,
including the debtor, Outer Banks Ventures, Inc.  On January 20,
2009, Brindley, Willis and Tinkham executed an Agreement whereby
Tinkham agreed to provide up to $500,000 as a capital contribution
in exchange for a one-third interest in the development project.
Pursuant to the Agreement, if certain contingencies did not occur
in 2009, Tinkham would have the option to convey his ownership
interest in the project to Brindley and Willis and convert his
capital contribution into a loan, to be paid within one year of
such conversion at six percent interest per annum.  The
contingencies were not met within the 2009 time frame, triggering
Tinkham's right to convert his capital contribution into a loan.
Notwithstanding that fact, the plaintiffs maintain that the parties
continued working toward the original development goals, and
Tinkham continued to be a legal advisor.

In June 2011, Brindley, Willis, the debtor and Tinkham executed a
Credit Line Deed of Trust Note ("2011 Note"), which consolidated
Tinkham's previous investment of $483,028.00 under the Agreement
with two other separate advances,8 and established a $1,000,000.00
line of credit for the plaintiffs. The 2011 Note incorporated the
$483,028.00 "advanced" under the Agreement.

In 2012, after maturation of the 2011 Note, Tinkham agreed to
release a portion of the collateral securing the 2011 Note to
facilitate a sale of some of the debtor's property. In 2013, the
plaintiffs again were faced with a potential sale of other property
owned by the debtor, and they sought another release of collateral
from Tinkham to facilitate the sale. The plaintiffs allege that
Tinkham advised them to go forward with the 2013 sale, but later
changed his mind and refused to cooperate, causing suit to be
threatened against the debtor by the prospective purchaser. The
parties eventually resolved the dispute through a restructure of
the indebtedness owed to Tinkham, which included an extension of
the maturity date and an accommodation of the sale. Accordingly, on
December 20, 2013, the parties executed the First Amendment to
Credit Line Deed of Trust Note and Deed of Trust ("2013 Note"). The
2013 Note restated the plaintiffs' obligations under the 2011 Note
and recited the fact that the 2011 Note was in default. It
restructured the 2011 Note to extend the maturity date from
December 31, 2011 to December 31, 2015, released and substituted
the collateral, and substituted the Tinkham Trust as holder of the
Notes. The 2013 Note also included the following waiver language:

Each party comprising the Maker represents that he, she or it has
no defense, setoff or counterclaim of any kind or nature with
respect to the full payment of all sums owed under the Loan
Documents. Each party comprising the Maker . . . hereby releases
and forever discharges the Trust and Tinkham from all actions,
causes of action, suits, proceedings, debts or claims, known or
unknown, in law or in equity, which he, she or it had, now has, or
could, shall or might have had, against Tinkham or the Trust, or
both, by reason of any matter, cause or thing whatsoever as of the
date of this Amendment. Id. at 25. The plaintiffs allege that they
were under extreme economic duress leading up to the restructure.

On November 12, 2015, the debtor filed a petition under chapter 11
of the Bankruptcy Code. The plaintiffs initiated this adversary
proceeding on February 9, 2016, and filed an Amended Complaint on
March 21, 2016. The plaintiffs assert six claims for relief: (1)
constructive fraud as to the 2011 Note; (2) constructive fraud as
to the 2013 Note; (3) duress as to the 2013 Note; (4) violation of
N.C. Gen. Stat. § 84-13, fraudulent practice by an attorney; (5)
disallowance of defendants' claims and liens against property of
the estate; and (6) punitive damages.

In support of their claims, Willis and Brindley allege that a
partnership with Tinkham was created by virtue of the Agreement,
and that Tinkham, in his role as a partner and legal advisor,
possessed superior bargaining power and control and owed them
fiduciary duties. The plaintiffs claim that Tinkham exploited his
status by causing the debtor to pledge collateral and assume
liability under the 2011 Note in exchange for a loan to only
Brindley and Willis. The plaintiffs further allege that Tinkham
violated his fiduciary duties in procuring the 2011 Note because
they allegedly received no benefit and were not fully informed of
their rights. In addition to breaching his fiduciary duties, the
plaintiffs maintain that, in procuring the 2011 Note, Tinkham
failed to disclaim or limit his attorney-client relationship status
with the plaintiffs, and used confidential information he obtained
during the course of his legal representation to the plaintiffs'
detriment.

The plaintiffs additionally allege that Tinkham remained a partner
with Willis and Brindley until December 2013, and until that point,
continued to owe them a duty of utmost good faith and integrity.
Tinkham allegedly breached his duties when he failed to fully
disclose that he was reverting from a partner to a creditor. By
seeking to maintain and expand upon the benefit he received under
the 2011 Note and by executing the 2013 Note, the plaintiffs allege
that Tinkham was in continuous violation of his fiduciary duties.
Further, the plaintiffs allege that Tinkham's actions in procuring
and seeking to enforce the 2011 Note instead of facilitating the
2013 sale of collateral placed them in severe financial distress,
and they had no option but to cede to Tinkham's demands in
executing the 2013 Note.

Based upon the foregoing allegations, the plaintiffs seek
disallowance of the proof of claim filed by the Tinkham Trust,
avoidance of the 2011 Note and Deed of Trust, double damages
pursuant to N.C. Gen. Stat. Section 84-13 and punitive damages.

In response to the Amended Complaint, the defendants filed a motion
to dismiss on April 11, 2016. As grounds for dismissal, the
defendants assert that plaintiffs have failed to state a claim upon
which any relief can be granted, that the forum selection provision
in the loan documents requires dismissal under the common law
doctrine of forum non conveniens, and that the comprehensive waiver
contained within the 2013 Note is a complete bar to any potential
liability.

Judge Humrickhouse, among other things, found that the plaintiffs
have not adequately pleaded economic duress.  First, and most
importantly, the plaintiffs' allegation that Tinkham advised Willis
to go forward with the 2013 sale, but then refused to cooperate by
releasing his security interest, does not by itself indicate any
wrongdoing or breach of duty by Tinkham.  Absent from the Amended
Complaint is any allegation that Tinkham agreed to release his
security interest or that he had an obligation to do so.  In the
absence of a duty or obligation to facilitate the sale, it could
not have been wrongful or unlawful for Tinkham to refuse to release
his security interest.  Tinkham was entitled to stand on his legal
rights.

A full-text copy of the Order dated August 12, 2016 is available at
https://is.gd/kuSL4B from Leagle.com.

The bankruptcy case is IN RE: OUTER BANKS VENTURES, INC., Debtor,
Case No. 15-06168-5-SWH (Bankr. E.D.N.C.).

Outer Banks Ventures, Inc., Plaintiff, is represented by Kevin L.
Sink, Esq. -- Nicholls & Crampton, P.A., John G. Trimpi, Esq. --
Trimpi & Nash, LLP.

J. Jeffrey Tinkham, Defendant, is represented by Richard A.
Prosser, Esq. -- rprosser@poynerspruill.com -- Poyner Spruill, LLP,
Lisa P. Sumner, Esq. -- lsumner@poynerspruill.com -- Poyner Spruill
LLP.


PACIFIC METRO: Bid to Withdraw Reference of Art Brands Suit OK'd
----------------------------------------------------------------
In the case captioned A. KYLE EVERETT, Plaintiff, v. ART BRAND
STUDIOS, LLC, et al., Defendants, Case No. 16-CV-01322-LHK (N.D.
Cal.), Judge Lucy H. Koh of the United States District Court for
the Northern District of California, San Jose Division granted the
defendants' motion for withdrawal of the reference from the
bankruptcy court to the district court with respect to the fourth
and fifth causes of action of the adversary proceeding.

The case was filed by A. Kyle Everett, acting as the Chapter 7
Trustee for the bankruptcy estate of Pacific Metro, LLC, against
six defendants in the United States Bankruptcy Court for the
Northern District of California, alleging five causes of action.
The first, second, and third causes of action were brought against
Windermere Holdings, LLC, Nanette Kinkade, and the Kinkade Family
Trust.  The fourth cause of action, against Mark Mickelson, was for
breach of fiduciary duty and usurpation of corporate opportunity.
The fifth cause of action asserted that Art Brand Studios, LLC and
Art Brand Retail LLC intentionally interfered with Pacific Metro's
prospective economic advantage.  Both the fourth and fifth causes
of action arose out of the 2015 transfer of Pacific Metro's
business operations and art gallery operations to Art Brand Studios
and Art Brand Retail.

On March 17, 2016, three of the defendants -- Mickelson, Art Brand
Studios, and Art Brand Retail -- moved for withdrawal of the
reference from the bankruptcy court to the district court.  The
defendants contended that permissive withdrawal is warranted as to
the fourth and fifth causes of action alleged in the Trustee's
adversary proceeding.

Judge Koh concluded that permissive withdrawal of the fourth and
fifth causes of action is warranted because both causes of action
are non-core and efficiency favors withdrawal of the reference.

A full-text copy of Judge Koh's August 15, 2016 order is available
at https://is.gd/nsfil7 from Leagle.com.

A. Kyle Everett is represented by:

          J. Barrett Marum, Esq.
          SHEPPARD MULLIN RICHTER HAMPTON LLP
          501 West Broadway, 19th Floor
          San Diego, CA 92101
          Tel: (619)338-6500
          Fax: (619)234-3815
          Email: bmarum@sheppardmullin.com

            -- and --

          Ori Katz, Esq.
          Robert K. Sahyan, Esq.
          SHEPPARD MULLIN RICHTER HAMPTON LLP
          Four Embarcadero Center
          Seventeenth Floor
          San Francisco, CA 94111
          Tel: (415)434-9100
          Fax: (415)434-3947
          Email: okatz@sheppardmullin.com
                 rsahyan@sheppardmullin.com
                 
Art Brand Studios, LLC, Art Brand Retail, LLC, Mark Mickelson, are
represented by:

          David Lawrence Neale, Esq.
          Irving Morris Gross, Esq.
          LEVENE, NEALE, BENDER, YOO AND BRILL L.L.P.
          10250 Constellation Boulevard, Suite 1700
          Los Angeles, CA 90067
          Tel: (310)229-1234
          Fax: (310)229-1244
          Email: dln@lnbyb.com
                 img@lnbyb.com

Windermere Holdings, LLC, Nanette Kinkade, Nanette Kinkade, are
represented by:

          Jennifer E. Duty, Esq.
          WINGERT GREBING BRUBAKER GOODWIN
          One America Plaza, 7th Floor
          600 West Broadway
          San Diego, CA 92101
          Tel: (619)232-8151

          About Pacific Metro

Pacific Metro LLC is a company that manufactured, distributed, and
sold art and art-based products licensed from various artists,
including primarily Thomas Kinkade.  Pacific Metro LLC filed for
bankruptcy in June of 2010 with approximately $19 million in debt.


PARAGON OFFSHORE: Court to Take Up Exit Plan on Sept. 27
--------------------------------------------------------
The U.S. Bankruptcy Court in Delaware is set to hold a hearing on
September 27, 2016, at 10:00 a.m., to consider confirmation of the
Chapter 11 plan of reorganization of Paragon Offshore plc and its
subsidiaries.

Prior to the hearing, the court will hear testimonies regarding
Paragon Offshore's settlement agreement with Noble Corporation plc
on September 8.

The agreement requires Noble to provide direct bonding to fulfill
the requirements necessary to challenge tax assessments in Mexico
relating to Paragon Offshore's business for the tax years 2005 to
2010.

Creditors have until September 9 to file their objections to the
plan, and until September 15 to cast their votes.

The plan calls for restructuring that will leave the companies'
business intact under Paragon Offshore and substantially de-lever
it, reducing as much as $1.1 billion of the companies' debt and $60
million of their annual cash interest expense.

The rights of general unsecured creditors, which are classified in
Class 6, are unaltered by the plan.  After the effective date of
the plan, the companies will continue to pay or dispute each
general unsecured claim in the ordinary course of business.   

Distributions of cash will be funded from the companies' cash on
hand as of the date of such distributions.

Under the terms of the Plan, the Revolving Credit Agreement will
still be modified to include a $165 million cash paydown with the
balance of approximately $631 million, including approximately $87
million of outstanding letters of credit, converted to a term loan
due in 2021 at an interest rate of LIBOR plus 4.50% with a 1.00%
LIBOR floor.  However, under the Revised Plan, the minimum
liquidity covenant will be reduced from $110 million to $103
million and the holiday on the maximum net leverage ratio and the
minimum interest coverage ratio financial covenants will be
extended to the first quarter of 2019 when they will be
reintroduced with a cushion versus the company's Downside
Sensitivity projections.  

A copy of Paragon Offshore's latest plan is available for free at
https://is.gd/ss81j5

                      About Paragon Offshore

Paragon Offshore plc -- http://www.paragonoffshore.com/-- is a
global provider of offshore drilling rigs.  Paragon's operated
fleet includes 34 jackups, including two high specification heavy
duty/harsh environment jackups, and six floaters (four drillships
and two semisubmersibles).  Paragon's primary business is
contracting its rigs, related equipment and work crews to conduct
oil and gas drilling and workover operations for its exploration
and production customers on a dayrate basis around the world.
Paragon's principal executive offices are located in Houston,
Texas.  Paragon is a public limited company registered in England
and Wales and its ordinary shares have been trading on the
over-the-counter markets under the trading symbol "PGNPF" since
December 18, 2015.

Paragon Offshore Plc, et al., filed separate Chapter 11 bankruptcy
petitions (Bankr. D. Del. Case Nos. 16-10385 to 16-10410) on Feb.
14, 2016, after reaching a deal with lenders on a reorganization
plan that would eliminate $1.1 billion in debt.

The petitions were signed by Randall D. Stilley as authorized
representative.  Judge Christopher S. Sontchi is assigned to the
cases.

The Debtors reported total assets of $2.47 billion and total debt
of $2.96 billion as of Sept. 30, 2015.

The Debtors have engaged Weil, Gotshal & Manges LLP as general
counsel, Richards, Layton & Finger, P.A. as local counsel, Lazard
Freres & Co. LLC as financial advisor, Alixpartners, LLP as
restructuring advisor, and Kurtzman Carson Consultants as claims
and noticing agent.


PASO GAS: Case Summary & 7 Unsecured Creditors
----------------------------------------------
Debtor: Paso Gas Corporation
        PO Box 3131
        Manati, PR 00674

Case No.: 16-06843

Chapter 11 Petition Date: August 29, 2016

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

Debtor's Counsel: Manolo R Santiago, Esq.
                  RIVERA-VELEZ & SANTIAGO LLC
                  9 Calle Vela, Suite 100
                  San Juan, PR 00918
                  Tel: 787-691-5903
                  E-mail: mrsmanolo@gmail.com
                          lcdo.santiago@tuquiebrapr.com

Total Assets: $480,489

Total Liabilities: $1.29 million

The petition was signed by Nestor Algarin Lopez, president.

A copy of the Debtor's list of seven unsecured creditors is
available for free at http://bankrupt.com/misc/prb16-06843.pdf


PATRIOT FLOORING: Unsecureds to Recover Almost 35% Under Plan
-------------------------------------------------------------
Patriot Flooring Supplies, Inc., and Ponypic, LLC, filed with the
U.S. Bankruptcy Court for the Southern District of Florida a joint
disclosure statement describing the Debtors' joint plan of
reorganization dated Aug. 1, 2016.

Under the Plan, Class 3 Claims (Unsecured Claims) are impaired.

ARCPE 1, LLC, has an unsecured deficiency claim of approximately
$200,000 that it has agreed to waive.

The United States Small Business Administration's SBA 504 Debenture
program has an allowed secured claim of $32,178, and the remaining
amount owed to it, $1,446,350, will be treated as an allowed
unsecured claim.  Accordingly, allowed unsecured claims total
approximately $1,446,350 (this amount is subject to change in
accordance with the procedures outlined in the Plan for determining
the amount and validity of disputed claims).

The holders of allowed unsecured claims will receive a one-time pro
rata distribution from $50,000 in cash contributed by Steven Hart,
President and sole Director and Shareholder of Patriot Flooring,
$50,000 in cash contributed by Ann Hart, a member of Ponypic, and
$400,000 to be contributed by Patriot Flooring, for a total
distribution of $500,000.  This one-time distribution will be
disbursed no later than ten business days after the Effective Date,
subject to the disputed claims reserve procedure set forth in the
Plan.  Therefore, each holder of an allowed Class 3 Claim will
receive almost 35% of the allowed amount of the claim, in full
satisfaction of all allowed Class 3 unsecured claims.

The funds and other consideration necessary to make all payments
contemplated by the Plan will be derived from cash on hand as of
the Effective Date, cash obtained from the Debtor's business
operations, $50,000.00 in cash contributed by Mr. Hart, and
$50,000.00 in cash contributed by Ms. Hart.

The Disclosure Statement is available at:

            http://bankrupt.com/misc/flsb16-18984-56.pdf

The Plan was filed by the Debtors' counsel:

     Eric A. Rosen, Esq.
     Kaleb R. Bell, Esq.
     FOWLER WHITE BURNETT, P.A.
     Northbridge Centre
     515 North Flagler Drive, Suite 2100
     West Palm Beach, Florida 33401
     Tel: (561) 802-9044
     Fax: (561) 802-9976
     E-mail: erosen@fowler-white.com
             kbell@fowler-white.com

Headquartered in West Palm Beach, Florida, Patriot Flooring
Supplies, Inc., is a corporation that was formed and incorporated
in 2000.  It owns and operates a wholesale flooring supply business
with a principal location at 342 Pike Road, Suite 14, West Palm
Beach, Florida 33411.  Patriot Flooring has five other storefront
locations in Florida in Palm Beach County, Martin County and Indian
River County.  All of the storefront locations are leased by
Patriot or by one of Patriot's wholly owned subsidiaries.  The
Property is owned by affiliate Ponypic, LLC, a Florida limited
liability corporation that was formed in 2008 for the sole purpose
of holding title to the Property.  Ponypic leases the Property to
Patriot pursuant to an oral, "triple net" lease.

Patriot Flooring (Bankr. S.D. Fla. Case No. 16-18984) and Ponypic
(Bankr. S.D. Fla. Case No. 16-18986) filed separate Chapter 11
bankruptcy petitions on June 24, 2016.  The Patriot Flooring
petition was signed by Steven Hart, president.

Judge Erik P. Kimball presides over the case.

Eric A Rosen, Esq., at Fowler White Burnett, P.A., serves as the
Debtor's bankruptcy counsel.

Patriot Flooring's assets total $3.61 million.  Its liabilities
total $4.03 million.


PAVEL SAVENOK: To Pay Unsecureds Through Income, Asset Sale
-----------------------------------------------------------
Pavel Savenok filed with the U.S. Bankruptcy Court for the Northern
District of Illinois a second amended disclosure statement for
second amended plan of reorganization dated Aug. 12, 2016.

Payments and distributions under the Plan will be funded by the
Debtor's disposable monthly income, as well as the sale of assets.
Payments to unsecured creditors in classes 2, 3, 6 and 7 will be
funded by the Debtor's excess monthly income.

The Debtor's monthly income is approximately $16,000 per month.
The Debtor receives $10,000 per month in consulting income from
Vertigo Media, Inc., $3,000 per month in loan repayments from Fox
Valley Contractors, LLC, and approximately $3,000 per month from
Skyline Plastering, Inc.  In addition, the Debtor receives period
distributions from entities in which he owns stock.  Since the
Debtor's residence is being sold, additional income will be free to
assist in funding monthly payments under the Plan.

The Debtor owns a 2011 Honda Odyssey that is financed by Honda
Finance Corporation.  The Debtor intends to keep the vehicle and
make payments to Honda in the amount of $548.58 per month until the
loan is paid off.  The claim of American Honda Finance Corporation
is unimpaired and is classified as Class 2 - Secured Claim of
American Honda Finance Corporation.

Wheaton Bank & Trust Company filed a claim in the amount of
$1,245,440.75 based on a loan secured by a mortgage on the Debtor's
personal residence and personal guaranties for business loans made
to Royal Corinthian, Inc., and 2PS Enterprises, Inc.  This claim is
classified as Class 3: Claim of Wheaton Bank & Trust.  The loan to
Royal Corinthian, Inc., is secured by substantially all of the
assets of Royal Corinthian, Inc., and is being paid in a timely
manner by Royal Corinthian, Inc.  The loans to 2P.S. Enterprises,
Inc., are secured by a mortgage on real estate owned by 2P.S.
Enterprises, Inc., which is worth more than what is owed to Wheaton
Bank, and the company is making timely payments on the loan.  Since
both loans are secured by assets worth more than the amount of the
loan and the loans are being paid in a timely manner by both Royal
Corinthian, Inc., and 2P.S. Enterprises, Inc., the Debtor will not
make direct payments to either loan under the plan.

Wheaton Bank is also owed $257,937.64 based on a personal loan to
the Debtor which is secured by a mortgage on the Debtor's personal
residence.  The Debtor will make monthly payments to Wheaton Bank
in the amount of $1,250 over a period of five years for a total of
$75,000.  In addition, Wheaton Bank will be entitled to any
proceeds from a short sale of the Debtor's residence to the extent
agreed to by the first mortgage holder

The Debtor owes a total of $101,612.21 to unsecured credit cards
for consumer debt and to the Illinois Department of Revenue for
income taxes.  These claims -- classifed as Class 6: Unsecured
Consumer Debt Claims -- will be paid a total of $35,564.27,
representing 35% of their allowed claims.  The payments will be
made at a rate of $592.73 per month over a period of 60 months
starting 30 days after the effective date of the Plan.  Class 6 is
impaired under the Plan.

The Debtor owes a total of $42,700.71 to David Boersma for
attorneys' fees.  This claim -- classified as Class 7: Attorneys'
Fees Claim -- will be paid a total of $14,945.25, representing 35%
of the allowed claim.  The payments will be made at a rate of
$249.08 per month over a period of 60 months starting 30 days after
the effective date of the Plan.  Class 7 is impaired under the
Plan.

Under the Plan, payments to creditors in Classes 4 and 5 will be
funded through a combination of a sale of the Debtor's interest in
Skyline Plastering, Inc., and the payment of loans due and owing
from Royal Corinthian, Inc.  

According to its proof of claim, EL Funding Partnership, LLC --
whose claim is classified as Class 4: Claim of EL Funding
Partnership, LLC -- is owed $2,133,387.52, based on the Debtor's
guarantee of debt due and owing by PLS Energy, LLC, with the vast
majority of the amount owed being accrued interest.  EL holds a
security interest in substantially all of the assets in PLS Energy,
LLC, including its working interest in certain oil and gas wells in
Louisiana.  EL also holds a third mortgage lien on the Debtor's
personal residence.  EL has been paid approximately $523,000 from
PLS Energy, LLC, as its share of settlement proceeds from a lawsuit
involving the malfunction of an oil and gas well.

The Debtor will also pay EL a lump sum payment of $235,000 on or
before March 31, 2017.  The Debtor is currently marketing his
personal residence for short sale.  To the extent that an offer is
approved by the first mortgage holder and EL is allowed to be paid
a portion of the funds from the short sale, then EL will also be
entitled to those proceeds of the short sale.  To the extent that
EL is paid any funds from the sale of the Debtor's residence or any
funds from the operations of PLS Energy, LLC, that amount will be
credited towards the amount due and owing from Debtor under the
Plan.  The Debtor's obligation to EL shall not exceed $235,000
under the Plan.

In addition to the payments, the Debtor's spouse, Lea Savenok will
pay to EL Funding a lump sum payment not to exceed $500,000 on or
before March 31, 2017, as settlement of her alleged guaranty of
loans made to EL.  Class 4 is impaired under the Plan.

In February 2013, the Debtor executed a guaranty in favor of
Thornwell AMP, LLC, which guaranteed the debt due and owing by
Farnham Development, LLC, to Thornwell.  Thornwell provided funding
to Farnham Development, LLC, for the purposes of engaging in the
exploration and development of oil and gas wells in Louisiana.
Pursuant to the various agreements between Thornwell, Farnham
Development, LLC, and the Debtor, if the test well was deemed to
not capable of producing a commercially viable quantity of oil and
gas, then Thornwell could enforce its right to recover from Farnham
and the Debtor.  On Feb. 26, 2015, Thornwell filed suit in the U.S.
District Court for the Northern District of Illinois, Eastern
Division against the Debtor alleging a default in the Debtor's
guaranty and seeking payment of $2,032,500.  Pursuant to an
agreement with Thornwell, the Debtor will pay Thornwell a total of
$1,050,000, representing 51% of the total claim of Thornwell.  The
claim is classified as Class 5: Unsecured Claim of Thornwell AMP,
LLC.  Class 5 is impaired under the Plan.

The Debtor owns 65% of the stock in Skyline Plastering, Inc.,
through the Paul Savenok Revocable Trust dated April 23, 2003.  The
"book value" of the stock is approximately $1.3 million, however,
it is unlikely that the stock could be sold on the open market
immediately for this amount.  The current "liquidation value" of
the stock is estimated to be approximately $500,000.  If Skyline
Plastering, Inc., continues to be operated as a going concern, it
is likely that the stock could be sold for close to the book value
estimated by the Debtor as the corporation is well-known in its
field throughout the Chicagoland area and had almost $6 million in
revenues during 2014.  The Debtor is also owed approximately
$300,000 by Royal Corinthian, Inc.  Payments have not been made to
the Debtor since the Debtor's bankruptcy filing as the corporation
has not had sufficient revenues to make the payments.  However,
Royal Corinthian, Inc., continues to operate its business and it's
likely that the corporation will have sufficient funds to start
repaying the debt due and owing to the Debtor within the next six
months.

In the event that the Debtor is unable to sell the stock of Skyline
Plastering, Inc., or receives repayment of loans due and owing from
Royal Corinthian, Inc., in an amount insufficient to make the
payments under the Plan, the Debtor will fund the Plan from other
sources.  The Debtor owns 32.5% of the stock in Stucco Molding,
Inc., through the Paul Savenok Revocable Trust dated April 23,
2003.  As of the Petition Date, the stock was estimated to be worth
approximately $47,192.60.  However, since the Petition Date, Stucco
Molding, Inc., has continued to be profitable and the value of the
Debtor's stock has likely increased.  The Debtor may also be
receiving distributions from Stucco Molding, Inc., in the event
that the corporation continues to be profitable.  In addition, the
Debtor holds ownership interest in Farnham Development, LLC, Cenco
Energy Development, LLC, and PLS Energy, LLC, all of which hold
working interests in oil and gas wells in Louisiana.  In the event
the wells are successful, the operation of the wells will generate
substantial revenues for the entities, which will flow through to
the Debtor as profits.

The Debtor owes a total of $101,612.21 to unsecured credit cards
for consumer debt and to the Illinois Department of Revenue for
income taxes.  These claims -- classified under Class 6: Unsecured
Consumer Debt Claims -- will be paid a total of $35,564.27,
representing 35% of their allowed claims.  The payments will be
made at a rate of $592.73 per month over a period of 60 months
beginning 30 days after the effective date of the Plan.  Class 6 is
impaired under the Plan.

The Small Business Administration is owed $527,664.22 by Westgate
Drive, LLC and the claim is classified as Class 9: Unsecured Claim
of Small Business Administration.  The Debtor executed a guaranty
of the debt due and owing to the SBA.  The debt to the SBA matures
on Aug. 1, 2027.  Westgate Drive, LLC, has not defaulted on the
loan and continues to be current on payments.  The Debtor has
executed a reaffirmation agreement with the SBA whereby the Debtor
will continue to be obligated to the SBA pursuant to the same terms
of his original guaranty.  Class 9 is unimpaired.

A copy of the Disclosure Statement is available at:

          http://bankrupt.com/misc/ilnb15-05998-150.pdf

                       About Pavel Savenok

Pavel Savenok is an individual residing in the State of Illinois,
town of Wheaton.  The Debtor holds an ownership interest in several
business entities through the Paul Savenok Trust dated April 23,
2003.  The Debtor's primary business affairs focus on construction,
oil and gas well development, and patent consulting.  The Debtor
holds interests in Skyline Plastering, Inc., Stucco Molding, Inc.,
Royal Corinthian, Inc., and Fox Valley Contractors, LLC, which are
in the construction business.  The Debtor also holds an interest in
PLS Energy, LLC, Farnham Development, LLC, and Cenco Development,
LLC, which hold working interests in oil and gas wells in Louisiana
that are in various stages of development.  Finally, the Debtor
holds an interest in Pavelid Technology, LLC, Sava Media, Inc., and
Remote Media, LLC, which are holding companies for patent rights or
are engaged in businesses involving the development of patent
rights.

The Debtor filed for Chapter 11 bankruptcy protection (Bankr. N.D.
Ill. Case No. 15-05998) on Feb. 23, 2015.  The Debtor is
represented by:

     Joshua D. Greene, Esq.
     925 S. Niagara Street, Suite 500
     Denver, Colorado 80224


PETERSBURG, VA: S&P Lowers General Obligation Rating to 'BB'
------------------------------------------------------------
S&P Global Ratings has lowered its general obligation (GO) rating
on the city of Petersburg, Va. three notches to 'BB' from 'BBB'.

At the same time, due to the city's participation in governmental
agreements to provide for debt service payments, S&P has also
lowered its underlying rating on the Stafford County & Staunton
Industrial Development Authority's Municipal League-Virginia
Association of Counties Finance Recovery Act Bond Pool II (of which
Petersburg is a participant) three notches to 'BB' from 'BBB'.  S&P
has placed its long-term ratings on CreditWatch with negative
implications.

"The downgrade reflects our view that the city has very weak
liquidity, based on what we believe is now limited market access to
external liquidity," said S&P Global Ratings credit analyst Timothy
Little.  The city's failure to secure financing for its annual tax
anticipation note during the beginning of the fiscal year
underscores its diminished market access.

"The 'BB' rating indicates that the city faces major ongoing
uncertainties regarding financial conditions, which could lead to
inadequate capacity to meet its financial commitments," he added.

The current long-term rating is constrained by S&P's view of the
city's very weak liquidity based on diminished market access, weak
management conditions that resulted from an ongoing structural
imbalance with no credible long-term plan in place to restore
fiscal solvency, and very weak flexibility with available reserves
less than negative 5% of general fund expenditures.

Petersburg, with an estimated population of 32,899, is 25 miles
south of Richmond on Interstate 95, encompassing about 23 square
miles in Petersburg City (Dinwiddie County/Colonial
Heights/Petersburg combined area).

"The CreditWatch Negative reflects uncertainty as to whether the
city can resolve its near-term liquidity concerns," added
Mr. Little.  Obtaining market access could be a key to improved
liquidity.  In S&P's opinion, the city is actively managing its
cash flows to have the ability to meet its obligations based on
timing of property tax collections, timing of payments, and other
cash flow management practices.  However, it faces major ongoing
uncertainties regarding financial conditions, which could lead to
inadequate capacity to meet its financial commitments.

Within the next 90 days, the city should be able to provide updated
information on its ability to obtain short-term financing and close
its fiscal 2017 budget gap of $12 million.  The city has upcoming
payments on bonded indebtedness which should be made, based on
current cash on hand and upcoming receipt of quarterly property tax
collections due before Sept. 30 and Dec.31.

If the city can obtain short-term liquidity, resolving current cash
concerns, and mitigating its $12 million budget gap, S&P may affirm
the rating and resolve the CreditWatch.  If interim financing is
achieved but proposed budgetary reforms appear to be insufficient
for the current year, S&P may lower its rating. However, if
current-year budgetary action is insufficient or interim financing
is not achieved with cash flow suggesting continued liquidity
strain that could impair payment on its obligations, S&P would
likely lower the rating by several notches.


PETROQUEST ENERGY: S&P Lowers CCR to 'CC', Outlook Negative
-----------------------------------------------------------
S&P Global Ratings lowered its corporate credit rating on
Lafayette, La.-based PetroQuest Energy Inc. to 'CC' from 'CCC'. The
outlook is negative.

S&P also lowered the issue-level rating on the company's
$145 million 10% senior secured second lien notes to 'CC' from
'CCC'.  The recovery rating remains '3', indicating meaningful
(higher end of the 50%-70% range) recovery in the event of default.
The 'D' issue-level and '6' recovery ratings on the senior
unsecured notes due September 2017 are unchanged.  The '6' recovery
rating indicates negligible (0%-10%) recovery in the event of
default.

"The downgrade follows PetroQuest's announcement that it has
launched an exchange offer to existing holders of its $145 million
10% senior secured second-lien notes and 10% senior unsecured notes
for new senior secured second-lien notes due 2021 at par value,"
said S&P Global Ratings credit analyst Daniel Krauss.  "The closing
date is expected to occur by the middle of September 2016," he
added.

S&P views the transaction as a distressed exchange because
investors will receive less than what was promised on the original
securities.  While the exchange is being made at par, the timing of
payments is slowed from a 10% cash interest rate to 1% cash
interest and 9% payment-in-kind (PIK) rates for the first 18
months.  Additionally, in S&P's view, the offer is distressed,
rather than purely opportunistic, given the current challenging
operating environment, and significant upcoming debt maturities.

"We assess PetroQuest's liquidity as less than adequate, based on
our view that if the company does not raise additional external
capital, liquidity sources will fall well below expected uses in
2017.  In June, the company entered into an amendment under which
it cannot incur any borrowings until it can satisfy the covenants
under the credit agreement.  These include debt/EBITDAX of less
than 4x and EBITDAX interest coverage of at least 3x.  Based on our
current forecasts, we do not believe the company will have access
to its revolver over the next few quarters.  The company had a cash
balance of $69 million on June 30, 2016.  In addition, the company
announced it has a commitment letter for a $50 million term loan,
subject to certain conditions, including a successful exchange
being completed," S&P said.

"The outlook is negative.  Once the transaction has closed, we
expect to lower the corporate credit rating to 'SD' (selective
default) and the issue-level rating on the $145 million second-lien
notes to 'D'.  We would then review the ratings based on the new
capital structure and consider an upgrade.  We also expect to rate
the new second-lien notes when there is more detailed information
about the resulting capital structure.  We could lower the ratings
if the company does not meet its interest obligations," S&P noted.

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


PICO HOLDINGS: Investor Colin Post Files Books & Records Request
----------------------------------------------------------------
PICO Holdings, Inc. (Nasdaq:PICO), based in La Jolla, Calif., is a
diversified holding company reporting recurring losses since 2008.
PICO owns 57% of UCP, Inc. (NYSE:UCP), 100% of Vidler Water
Company, Inc., a securities portfolio and various interests in
small businesses. PICO has $662 million in assets and $426 million
in shareholder equity. Central Square Management LLC and River Road
Asset Management LLC collectively own more than 14% of PICO. Other
activists at http://ReformPICONow.com/have taken to the Internet
to advance the shareholder cause.

A PICO investor has filed a books and records request. "Given the
controversy surrounding John Hart's criminal employment scheme, it
was only logical that an industrious and intelligent PICO
shareholder would seek the truth. On July 15, 2016, pursuant to
California Corporations Code 1601, PICO shareowner Colin Post
delivered a Books and Records Request to PICO General Secretary,
Max Webb.

A Books and Records Request is a petition by a shareholder to
receive and examine relevant documents that are under the control
of a corporation's leadership. Inspection of Books and Records is a
statutory right granted to the owners of a business. Its ultimate
objective is the clarification of an issue that may threaten the
interests' of shareholders.

A Books and Records Request is usually a precursor to litigation
and is integral to the preparation of any shareholder lawsuit
against a corporation. State courts encourage inspection requests
pre-litigation and will dismiss suits in which such an inquiry has
not been completed.

Mr. Post sought 'Board Materials' that pertain to both the Hart
Employment Agreement and the Bonus Plan, and all materials that
relate to the process under which they were conceived."

The bloggers are surprised that PICO turned the matter over to its
activist defense attorney. "Mr. Post's Request found its way from
Mr. Webb to Keith Gottfried, Esq., at Morgan, Lewis & Bockius, LLP,
in Washington, DC. Although PICO and Mr. Gottfried denied Mr.
Post's Books and Records Request, we submitted it to three
different legal experts, including a California corporate attorney.
All concurred that the Books and Records Request was compliant with
CCC 1601 because:

  -- it comes from a shareholder;
  -- the information requested is relevant to shareholder
comprehension of the process that produced   
     Mr. Hart's Employment Agreement and the Bonus Plan;
  -- the request is narrow;
  -- the relevant documents are not available from another source;
  -- Mr. Post intends to pursue a course of action to benefit other
shareholders; and
  -- it cited relevant case law and a legal rationale for
disclosure of information that PICO has
     publicly discussed but has kept secret.

We were shocked at several aspects of PICO's denial. We found one
aspect more shocking than the others: that Mr. Webb (and any other
PICO Executive or Director involved in the decision) turned the
Books & Records Request over to Mr. Gottfried.

Mr. Gottfried is an attack-dog activist defense attorney. His
primary job is to thwart the will of shareholders that agitate for
change. We estimate that Mr. Gottfried charges $1,000 per hour.

A books and records request is a routine corporate matter that
should be handled by corporate counsel -- which in PICO's case is
Jason Kent, Esq., at Cooley LLP. This Books and Records Request
relied on a California statute and Mr. Kent is a California
attorney -- while Mr. Gottfried is in Washington DC."

The bloggers criticize the decision to retain Mr. Gottfried for
this matter. "Raymond Marino and PICO have promised greater
transparency and openness; Mr. Gottfried represents the exact
opposite. His job, apparently, is to use his view of the law to
silence shareholders and squelch efforts at change.

So what in the world was Max Webb (and any other PICO Executive or
Director involved in the decision) thinking when they turned the
Books & Records Request over to Mr. Gottfried?

We view Mr. Gottfried's response as unnecessarily hostile. Mr. Post
is a shareowner, a partner to all PICO Directors, Executives and
shareowners. He entrusted his hard-earned capital to PICO and, like
all other shareholders, was dismayed at the criminal Hart
Compensation Scheme. In response, Mr. Post is exercising his
statutory right. We believe that Mr. Gottfried inappropriately
treated him like an annoyance rather than a partner in the
business.

Was the PICO Board of Directors made made aware of the Books and
Records Request? Did the Board approve assignment of this matter to
Mr. Gottfried? Did the Board approve the letter and spirit of this
response? Given this Board's recent rhetoric about improved
relations with shareholders -- especially those by Mr. Marino -- we
hope not.

Which begs the question: Did Juicer and Max "Tangled" Webb
furtively commandeer this Request without alerting anyone else at
PICO?"

The bloggers ask PICO to respect shareholder will. "We believe that
PICO should fulfill this Books and Records Request, preferably in
an 8-K filing. PICO can avoid copycat books and records requests,
which will materialize if stonewalling persists. PICO Executives
and Directors can obviate the distraction which will ensue if this
process drags out. Shareholders may take legal action to procure
the Books and Records Request information, which would be prolonged
and expensive. Resistance may contribute to the rationale for a
Special Meeting.

On the latest earnings call Mr. Marino said, 'I can assure you that
the seven of us are all deeply committed to delivering strong
corporate governance for PICO.'

Great. Then when a Director vote is taken on disclosure of this
information, we assume it will be unanimous."


POSITRON CORP: Bid to Approve Agreed Strucural Dismissal Denied
---------------------------------------------------------------
Judge Robert L. Jones of the United States Bankruptcy Court for the
Northern District of Texas, Lubbock Division, denied approval of a
joint motion to approve an agreed structured dismissal of the
involuntary Chapter 11 case against Positron Corporation.

The case is an involuntary bankruptcy proceeding in which, after a
day of trial on the contested involuntary petition, the parties --
the alleged debtor, Positron Corporation, and the petitioning
creditors (DX, LLC, Jason and Suzanne Kitten, Moress, LLC, and
Posi-Med, LLC) -- announced that they had reached a settlement that
would culminate in a dismissal of the involuntary case.

The agreement provides, among other things, that Positron will
purchase all shares of stock of Positron that are owned by Cecil
O'Brate for the sum of $100,000.  O'Brate is the sole owner of DX,
LLC, one of the petitioning creditors, and is the single largest
shareholder of Positron, holding approximately 23% of the issued
and outstanding shares of Positron.  O'Brate is also a close friend
of petitioning creditors Jason and Suzanne Kitten.  O'Brate has
invested in excess of $3.7 million in Positron.  Positron will pay
for the shares by issuing a $100,000 promissory note that is
payable at 4.5% interest in twelve monthly installments of
$8,537.85 each. The note will be secured by the Positron shares
that are subject of the conveyance (i.e., the acquired shares will
be pledged back to O'Brate).

This has been a hotly contested involuntary proceeding, Judge Jones
said, noting that he previously denied Positron's motion seeking
dismissal of the involuntary proceeding for improper venue or,
alternatively, transfer of venue to the Northern District of
Illinois, concluding that "Positron is, to say the least, a
troubled enterprise" and that its "business plan ha[d] thus far
failed."

According to Judge Jones, the objections raised by Tradex Global
Advisers, LLC, which asserts an unsecured claim of $1,917,000,
highlight the procedural and substantive traps that can arise with
structured dismissals: they raise the applicability and potential
violation of the absolute priority rule (Section 1129(b) of the
Bankruptcy Code) with the proposed redemption of O'Brate's
interests in Positron, as well as sub rosa concerns with the lack
of any articulated structure for assessing, addressing, and making
payments on claims of asserted creditors.

Judge Jones held that there is merit to the proposed settlement but
there is no authority under the Bankruptcy Code authorizing the
type of settlement that is proposed here.  The settlement, Judge
Jones noted, does not actually provide for a dismissal.  Instead,
it provides that upon completion of the settlement terms, a motion
to dismiss will be submitted.  The Court therefore denies approval
of the motion and, in accordance with the terms of the settlement
agreement as a binding agreement among the parties, Positron must,
within ten days, go forward under chapter 11, either under a
voluntary chapter 11 petition or by its motion converting this case
to a voluntary chapter 11 proceeding.

A full-text copy of Judge Jones' August 25, 2016 memorandum opinion
is available at http://bankrupt.com/misc/txnb15-50205-98.pdf

In involuntary Chapter 11 case is In re: POSITRON CORPORATION,
Alleged Debtor, Case No. 15-50205-RLJ-11 (Bankr. N.D. Tex.).

                 About Positron Corporation

Headquartered in Fishers, Indiana, Positron Corporation is a
molecular imaging company focused on nuclear cardiology.

Positron reported a net loss of $2.58 million on $1.46 million of
sales for the year ended Dec. 31, 2014, compared to a net loss of
$7.1 million on $1.63 million of sales for the year ended Dec. 31,
2013.

As of Sept. 30, 2015, the Company had $1.52 million in total
assets, $3.10 million in total liabilities and a total
stockholders' deficit of $1.58 million.

Sassetti LLC, in Oak Park, Illinois, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2014, citing that the Company has a significant
accumulated deficit which raises substantial doubt about the
Company's ability to continue as a going concern.


QUORUM HEALTH: S&P Affirms 'B' CCR & Revises Outlook to Negative
----------------------------------------------------------------
S&P Global Ratings affirmed the 'B' corporate credit rating on
Franklin, Tenn.-based acute care hospital operator Quorum Health
Corp. and revised S&P's rating outlook to negative from stable.
S&P's issue-level ratings on Quorum, including its 'B' issue-level
rating and '3' recovery rating on the company's secured debt and
S&P's 'CCC+' issue-level rating and '6' recovery rating on the
company's unsecured debt, are not affected by this announcement.

"Our rating action follows significantly weaker than expected
operating performance in the second quarter, the first quarter
following the company's spin off from former parent Community
Health Systems.  In Quorum's initial quarter as an independent
entity, the company generated weak patient volumes on a
year-over-year basis and experienced an unfavorable payer mix
shift, with commercial revenues (which generally reimburse at
higher rates relative to government and self-pay) declining about
5.6%.  In addition, corporate costs under the company's TSA with
Community Health were meaningfully higher relative to S&P's
previous expectations.  Although the company is actively trying to
address some of the cost and volume issues through recruiting new
physicians and divesting unprofitable facilities, S&P expects
margins are likely to remain at depressed levels in the near term
and are somewhat uncertain about the company's ability to divest
money-losing hospitals over the next few quarters," S&P said.

"Although we believe a portion of the items affecting the second
quarter were one-time in nature, we believe volumes are likely to
remain below prior expectations, and we expect corporate costs on a
going-forward basis will be higher than we previously anticipated,"
S&P Global Ratings analyst Shannan Murphy said.

Consequently, S&P has revised its forecasts to reflect flat revenue
growth in 2016 and to incorporate higher costs, resulting in
adjusted EBITDA margins of below 10% in 2016.  This is more than
200 basis points below S&P's previous expectations.  Although
Quorum has announced it will seek to divest 10 hospitals that
collectively are on track to generate $40 million in EBITDA losses
in 2016, S&P's base-case forecasts do not currently incorporate any
asset sales.  As a result, S&P now expects adjusted leverage in the
high-6x range in 2016 and the mid-6x range in 2017 and about $20
million in recurring discretionary cash flow (excluding the impact
of an ongoing capital spending project to expand a facility in
Oregon).  This is in contrast to S&P's prior view that leverage
would be sustained around 5x and recurring cash flow would be about
$40 million to $60 million per year.  These revised metrics are
consistent with a highly leveraged (revised from aggressive)
financial risk profile.

S&P's negative rating outlook on Quorum reflects S&P's view that
the company can modestly expand margins relative to second-quarter
levels, but that it will sustain leverage in the high-6x range over
the next few quarters and free cash flow (even excluding
expansionary capital spending) will be very thin.  Still, S&P
believes the company has several near-term opportunities that could
allow it to improve credit metrics.  Although S&P expects it will
take several quarters for the company to begin to improve revenue
growth, it believes some of the costs that impacted the second
quarter will not recur.  In addition, if the company is successful
in divesting the 10 money-losing hospitals, its free cash flow
generation could support a 'B' rating.

S&P could lower the rating if Quorum is unable to grow EBITDA on a
sequential basis in the third quarter, given very weak operating
performance in the second quarter.  In S&P's view, this could
happen if the company experiences further deterioration in its
volumes and payer mix, which might suggest the company's
competitive position is imperiled.  S&P could also lower the rating
if the company is unable to show some progress over the next two
quarters in stemming operating losses at its money-losing
facilities, either through improving operating trends or through
moving forward in the process to divest some of these facilities.


S&P could revise the outlook back to stable if the company is able
to successfully divest some of its money-losing facilities,
resulting in a smaller hospital portfolio with stronger EBITDA
margins.  Under this scenario, S&P believes the company could
generate recurring free operating cash flow of $40 million-
$50 million and maintain a comfortable cushion to its financial
covenants, ensuring continuing access to the revolver.



RACKSPACE HOSTING: Moody's Puts Ba1 CFR on Review For Downgrade
---------------------------------------------------------------
Moody's Investors Service has placed Rackspace Hosting, Inc.
ratings under review for downgrade, including the company's Ba1
corporate family rating (CFR), Ba1-PD probability of default rating
(PDR), and Ba1 senior unsecured rating.  The review was prompted by
the announcement of Apollo Global Management's planned $4.3
billion, all cash acquisition of the company.  In order to finance
the buyout, Moody's expects leverage will rise, putting downward
pressure on Rackspace's credit profile.

Issuer: Rackspace Hosting, Inc.

On Review for Downgrade:
  Probability of Default Rating, Placed on Review for Downgrade,
   currently Ba1-PD
  Corporate Family Rating, Placed on Review for Downgrade,
   currently Ba1
  Senior Unsecured Regular Bond/Debenture due 2024, Placed on
   Review for Downgrade, currently Ba1 (LGD4)

Unchanged:

  Speculative Grade Liquidity Rating. unchaged at SGL-1

Outlook Actions:

  Outlook, Changed To Rating Under Review From Stable

                         RATINGS RATIONALE

Rackspace's Ba1 CFR reflects its low leverage, conservative
financial policy and strong free cash flow driven by stable
recurring revenues and steady EBITDA margins.  The company has a
proven track record of organic revenue growth, with quarterly
sequential revenue growth throughout the last five years.  In
contrast to most IT infrastructure companies of its size, Rackspace
has organically built a highly profitable business within a
dynamic, capital intensive and rapidly growing industry. Its cost
structure is mostly variable, which has allowed margins to remain
very consistent despite the company's high growth. Growth via
acquisition remains an option for the company but is not a key
component of the Rackspace business model.  The rating is
constrained by Rackspace's relatively small scale in an industry
dominated by large and well capitalized companies and the
technological and competitive threats inherent in the IT services
industry.

The principal methodology used in these ratings was Global
Communications Infrastructure Rating Methodology published in June
2011.

Based in San Antonio, TX., Rackspace is a multinational leader in
managed cloud services.  The company has a global network and
offers broad IT solutions to its clients.  The company generated
over $2 billion in revenues for the last twelve months ended
6/30/2016.



RACKSPACE HOSTING: S&P Puts 'BB+' CCR on CreditWatch Negative
-------------------------------------------------------------
S&P Global Ratings said it placed its 'BB+' corporate credit rating
on San Antonio, Texas-based Rackspace Hosting Inc. on CreditWatch
with negative implications.

At the same time, S&P placed its 'BB+' issue-level rating on the
company's senior unsecured notes and senior unsecured revolving
credit facility on CreditWatch with negative implications.  If the
existing debt remains part of the company's capital structure, S&P
would lower the issue-level rating to reflect the lower expected
corporate credit rating.  In the event the existing debt is repaid,
S&P would not lower the issue-level rating on this debt, and would
withdraw the rating following the completion of the repayment.  The
'3' recovery rating on this debt is unchanged at this time and
indicates S&P's expectation for meaningful (50%-70%; upper half of
the range) recovery in the event of a payment default.

"The CreditWatch listing reflects the likelihood of a
multiple-notch downgrade of Rackspace following its agreement to be
acquired by private-equity firm Apollo Global Management LLC," said
S&P Global Ratings credit analyst Rose Askinazi.

While financing terms have not been disclosed, S&P expects the
company to pursue additional debt financing that would push
leverage above S&P's current 3x downgrade threshold.  Also, upon
completion of the transaction, Rackspace will be controlled by a
financial sponsor that may extract cash or otherwise increase
leverage over time.

S&P intends to resolve the CreditWatch placement over the coming
months as information becomes available about the company's
proposed capital structure, financial policy, and strategic
direction.  S&P believes a two or three notch downgrade is likely
given its expectation that the company's financial leverage will
increase as a result of the proposed transaction.  Given the
shareholder and regulatory process, the deal is expected to close
in the fourth quarter of 2016.


RADIOSHACK CORP: Judge Approves $41M Settlement of Overtime Suit
----------------------------------------------------------------
Vince Sullivan, writing for Bankruptcy Law360, reported that the
liquidating trustee overseeing the bankruptcy estate of RadioShack
Corp. received approval on Aug. 29, 2016, from Delaware Bankruptcy
Judge Brendan L. Shannon to settle a pair of class action suits
relating to overtime calculations for store managers dating back to
2012.  The settlement between RS Legacy Corp. and the plaintiffs in
a pair of of Fair Labor Standards Act class actions was approved by
allowing the class claimants to enter a $41 million general
unsecured claim.

                    About RadioShack Corporation

Headquartered in Fort Worth, Texas, RadioShack was a retailer of
mobile technology products and services, as well as products
related to personal and home technology and power supply needs.
RadioShack's retail network includes more than 4,300 company-
operated stores in the United States, 270 company-operated
stores in Mexico, and approximately 1,000 dealer and other outlets
worldwide.

RadioShack Corp. and affiliates sought Chapter 11 protection
(Bankr. D. Del. Lead Case No. 15-10197) on Feb. 5, 2015,
disclosing total assets of $1.2 billion, versus total debt of $1.3
billion.

David G. Heiman, Esq., Greg M. Gordon, Esq., Amanda M. Suzuki,
Esq., Jonathan M. Fisher, Esq., Thomas A. Howley, Esq., and Paul
M. Green, Esq., at Jones Day served as the Debtors' bankruptcy
counsel.  David M. Fournier, Esq., Evelyn J. Meltzer, Esq., and
John H. Schanne, II, Esq., at Pepper Hamilton LLP served as
co-counsel.

Carlin Adrianopoli at FTI Consulting, Inc. is the Debtors'
restructuring advisor.  Maeva Group, LLC, is the Debtors'
turnaround advisor. Lazard Freres & Co. LLC is the Debtors'
investment banker.  A&G Realty Partners is the Debtors' real
estate advisor.  Prime Clerk is the Debtors' claims and noticing
agent.

The Official Committee of Unsecured Creditors tapped Quinn Emanuel
Urquhart & Sullivan, LLP and Cooley LLP as co-counsel, and
Houlihan Lokey Capital, Inc., as financial advisor and investment
banker.  

                           *     *     *

After an auction in March 2015, the Debtors sold most of the
assets to General Wireless, Inc., an entity formed by Standard
General, L.P., for $150 million.  The Debtors also sold Mexican
assets to Office Depot de Mexico, S.A. de C.V., for $31.8 million
plus the assumption of debt.  Regal Forest Holding Co. Ltd. bought
the Debtors' intellectual property assets in Latin America for a
purchase price of $5,000,000.

In June 2015, the Debtors changed their name to RS Legacy
Corporation, et al., following the sale of the Company's brand
name and customer data to General Wireless.

The bankruptcy judge on Oct. 2, 2015, issued an order confirming
the first amended joint plan of liquidation of the Debtors.  The
centerpiece of the Plan is the resolution of various disputes
among the Debtors, the Creditors' Committee and the SCP Secured
Parties.

The Plan was declared effective on Oct. 7, 2015.


RESIDENTIAL CAPITAL: Court Disallows Nguyen's Claim No. 3725
------------------------------------------------------------
Judge Martin Glenn of the United States Bankruptcy Court for the
Southern District of New York sustained the ResCap Borrower Claims
Trust's objection to Claim No. 3725 filed by Diem Trang Nguyen.
The claim was disallowed and expunged.

The claim was filed by Nguyen on or about November 8, 2012, against
the debtor, Residential Capital, LLC, asserting a general unsecured
claim in an unliquidated amount.  The basis of the claim, as stated
on the proof of claim form, is "wrongful foreclosure of
[P]roperty."  Additionally, the proof of claim form states that
"wrongful foreclosure cases [are] pending appeal at federal and
state courts: 11-56774 and G046818.

Judge Glenn concluded that Nguyen's causes of action are barred by
res judicata and collateral estoppel.  With respect to the
remainder of the causes of action, Judge Glenn found that the Trust
adequately shifted the burden by rebutting the prima facie validity
of the claim and Nguyen thereafter failed to meet her burden of
establishing the viability of the claim.

A full-text copy of Judge Silverstein's August 8, 2016 order is
available at http://bankrupt.com/misc/nysb12-12020-10070.pdf  

The ResCap Borrower Claims Trust is represented by:

          Norman S. Rosenbaum, Esq.
          Jessica J. Arett, Esq.
          MORRISON & FOERSTER LLP
          250 West 55th Street
          New York, NY 10019
          Tel: (212)468-8000
          Fax: (212)468-7900
          Email: nrosenbaum@mofo.com
                 jarett@mofo.com

                    About Residential Capital

Residential Capital LLC, the unprofitable mortgage subsidiary of
Ally Financial Inc., filed for bankruptcy protection (Bankr.
S.D.N.Y. Lead Case No. 12-12020) on May 14, 2012.  Neither Ally
Financial nor Ally Bank is included in the bankruptcy filings.

ResCap, one of the country's largest mortgage originators and
servicers, was sent to Chapter 11 with 50 subsidiaries amid
"continuing industry challenges, rising litigation costs and
claims, and regulatory uncertainty," according to a company
statement.

ResCap disclosed $15.7 billion in assets and $15.3 billion in
liabilities at March 31, 2012.

Centerview Partners LLC and FTI Consulting are acting as financial
advisers to ResCap.  Morrison & Foerster LLP is acting as legal
adviser to ResCap.  Curtis, Mallet-Prevost, Colt & Mosle LLP is
the
conflicts counsel.  Rubenstein Associates, Inc., is the public
relations consultants to the Company in the Chapter 11 case.
Morrison Cohen LLP is advising ResCap's independent directors.
Kurtzman Carson Consultants LLP is the claims and notice agent.

Ray C. Schrock, Esq., at Kirkland & Ellis LLP, in New York, serves
as counsel to Ally Financial.

ResCap sold most of the businesses for a combined $4.5 billion.
The Bankruptcy Court in November 2012 approved ResCap's sale of
its
mortgage servicing and origination platform assets to Ocwen Loan
Servicing, LLC and Walter Investment Management Corporation for $3
billion; and its portfolio of roughly 50,000 whole loans to
Berkshire Hathaway for $1.5 billion.

Judge Martin Glenn in December 2013 confirmed the Joint Chapter 11
Plan co-proposed by Residential Capital and the Official Committee
of Unsecured Creditors.


REVOLVE SOLAR: Court Withdraws Order Allowing DIP Financing
-----------------------------------------------------------
Judge Tony M. Davis of the U.S. Bankruptcy Court for the Western
District of Texas withdrew his order authorizing Revolve Solar (TX)
Inc. to obtain postpetition financing.

Judge Davis had previously authorized the Debtor to obtain
postpetition financing from Tim Padden, the Debtor's president,
acknowledging that a need existed for the Debtor to borrow funds
from Mr. Padden in order to continue to operate its business.

A full-text copy of the withdrawn Order, dated Aug. 24, 2016, is
available at https://is.gd/2YB4fD
        
                About Revolve Solar (TX) Inc.

Revolve Solar, Inc. aka Revolve Solar LLC, Revolve Solar (TX) Inc.,
and Revolve Solar (CA) Inc. each filed chapter 11 petitions (Bankr.
W.D. Tex. Case Nos. 16-10896, 16-10897, and 16-10899) on July 31,
2016.  The petitions were signed by Tim Padden, president.  The
Debtors are represented by Joyce W. Lindauer, Esq., at Joyce W.
Lindauer Attorney, PLLC.  Revolve Solar, Inc. and Revolve Solar
(TX) Inc.'s cases are assigned to Judge Tony M. Davis, while
Revolve Solar (CA) Inc.'s case is assigned to Judge Christopher B.
Mott.  The Debtors each estimated assets and liabilities at $1
million to $10 million at the time of the filing.


RIVER NORTH 414: Can Use Cash Collateral Until Sept. 24
-------------------------------------------------------
Judge Janet S. Baer of the U.S. Bankruptcy Court for the Northern
District of Illinois authorized River North 414 LLC and its
affiliated debtors to use cash collateral on an interim basis,
through Sept. 24, 2016.

The Debtor was directed to make an adequate protection payment to
the Republic Bank of Chicago in the amount of $5,000, on or before
Aug. 31, 2016.  The payment is to be applied to the accrued
interest on the $900,000 Promissory Note, issued by the Debtor and
Premium Themes, Inc.

A continued hearing on the Debtor's Motion is scheduled on Sept.
20, 2016 at 10:30 a.m.

A full-text copy of Accord Financial's Objection, dated Aug. 24,
2016, is available at https://is.gd/Az1ZhF

Republic Bank is represented by:

          Edward P. Freud, Esq.
          RUFF, FREUD, BREEMS & NELSON, LTD.
          200 North LaSalle Street, Suite 2020
          Chicago, IL 60601
              
                About River North 414

River North 414 LLC and Premium Themes, Inc., based in Chicago,
Illinois, filed a Chapter 11 petition (Bankr. N.D Ill. Case Nos.
16-17324 and 16-17325) on May 24, 2016.  Judge Janet S. Baer
presides over the case.  Thomas R. Fawkes, Esq., at Goldstein &
McClintock, serves as bankruptcy counsel.

The Debtors estimated $100,000 to $500,000 in assets and $1 million
to $10 million in liabilities.  The petitions were signed by Jesse
T. Boyle, authorized officer.


ROBISON TIRE: Hires Molloy-Seidenburg as Accountant
---------------------------------------------------
Robison Tire Company, Inc., seeks authority from the U.S.
Bankruptcy Court for the Southern District of Mississippi to employ
Molloy-Seidenburg & Co., P.A. as accountant to the Debtor.

Robison Tire requires Molloy-Seidenburg to provide accounting
services to the Debtor in relation to the bankruptcy case.

Molloy-Seidenburg will be paid compensation at its usual and
customary hourly rates and to receive reimbursement of actual,
necessary expenses only after notice and hearing.

Doug Seidenburg, shareholder of Molloy-Seidenburg & Co., P.A.,
assured the Court that the firm is a "disinterested person" as the
term is defined in Section 101(14) of the Bankruptcy Code and does
not represent any interest adverse to the Debtor and its estate.

Molloy-Seidenburg can be reached at:

     Doug Seidenburg
     MOLLOY-SEIDENBURG & CO., P.A.
     519 Central Ave.
     Laurel, MS 39440
     Tel: (601) 649-2007

                      About Robison Tire

Since the early 1970's, Robison Tire Co., Inc., was a replacement
tire wholesaler and retailer in the Southeastern United States.
Robison entered into various dealer agreements with manufacturers
of passenger, commercial, off road, implement and specialty tires
pursuant to which it purchased products directly from manufacturers
and sold products on a wholesale and retail basis.

Beginning in approximately 2008, the company began expanding its
business operations, both in geographical area and volume. By the
beginning of 2011, it was doing business in Mississippi,
Alabama,Florida, Tennessee, Georgia, Louisiana and Arkansas.
Robison had warehouses in Laurel, Mississippi, Montgomery, Alabama
and Nashville, Tennessee. Robison Tire Co., Inc. was an authorized
wholesaler and retailer of a number of brands, including Armour,
Bridgestone, Goodyear, Hankook, Hercules and Toyo.

Robison Tire Co., Inc. sought the Chapter 11 protection (Bankr.
S.D. Miss. Case No. 16-51183) on July 14, 2016.  Judge Katharine M.
Samson is assigned to the case.

The Debtor estimated assets in the range of $500,000 to $1 million
and $1 million to $10 million in debt.

Jarrett Little, Esq. at Lentz & Little, PA serves as the Debtor's
counsel. The petition was signed by Michael Windham, president.

No official committee of unsecured creditors has been appointed in
the case.



ROCK CREEK PHARMA: Considering Bankruptcy After Default
-------------------------------------------------------
The American Bankruptcy Institute, citing Margie Manning of the
Tampa Bay Business Journal, reported that Rock Creek
Pharmaceuticals Inc. is considering options -- including bankruptcy
-- after two debtholders said the company was in default.

According to the report, the drug development company, which has
historic ties to a former Virginia governor accused of corruption,
says it only has $35,000 in unrestricted cash and faces payment
demands of more than $10 million.

The latest twist in the saga of the struggling firm shows how hard
it is for a startup drug company to get off the ground, and the
challenges faced by Tampa Bay economic development officials in
their effort to grow a thriving life science clusters in the area,
the report related.

Rock Creek (OTCQB: RCPI) has been working to develop a compound to
treat acute and chronic inflammatory conditions, and has dedicated
all its resources to research and development, it said in an Aug.
10 quarterly filing with the U.S. Securities and Exchange
Commission, the report further related.

n Aug. 24, one of the note holders, Hudson Bay Master Fund Ltd.,
sent Rock Creek an event of default redemption notice, withdrawing
$6.7 million from its account and claiming it is still owed nearly
$7 million, Rock Creek disclosed in a SEC filing late on Aug. 29,
the report said.

Separately, Tenor Capital Management sent Rock Creek an event of
default notice on behalf of Alto Opportunity Master Fund, also a
note holder, the filing said, the report added.  Tenor has
withdrawn $3.5 million from its account and demanded the balance
remaining of $3.8 million be paid in cash no later than Aug. 31,
the report said.


ROTARY DRILLING: Taps Piper Jaffray as Financial Advisor
--------------------------------------------------------
Rotary Drilling Tools USA LLC, et al., seek authority from the U.S.
Bankruptcy Court for the Southern District of Texas to employ Piper
Jaffray & Co. as financial advisor and investment banker to the
Debtor.

Rotary Drilling requires Piper Jaffray to:

   a. develop and present to the Debtors, a list of prospective
      purchasers;

   b. market the opportunity of a possible business combination
      to prospective purchasers;

   c. if requested by the Debtors, assist the Debtors in
      preparing a brochure to be utilized in discussions with
      prospective purchasers which will describe the Debtors in
      such detail as may be appropriate under the circumstances;

   d. assist the Debtors in their determination of appropriate
      and desirable values to be realized in a business
      combination;

   e. advise the Debtors as to the structure and form of proposed
      business combinations;

   f. advise and assist the Debtors' management in making
      presentations to the Debtors' board of directors and lender
      about proposed business combinations; and

   g. counsel the Debtors as to strategy and tactics for
      initiating discussions with a prospective purchaser and
      participating in such discussions.

Piper Jaffray will be paid:

   1. A non-contingent fee of $50,000; and

   2. If, during the period Piper Jaffray is retained by the
      Debtor or within one year thereafter (a) a Business
      Combination is consummated with a Purchaser or (b) the
      Company enters into an agreement with any Purchaser
      which subsequently results in a Business Combination, a
      transaction fee of an amount equal to 3.0% of the aggregate
      purchase price paid in a Business Combination, but in
      no event less than $750,000, payable in cash upon the
      closing of a Business Combination or, in the case of a
      tender offer or exchange offer, upon the first purchase or
      exchange of shares pursuant to a tender offer or
      exchange offer, as the case may be. Any fee previously paid
      to Piper Jaffray pursuant to clause (1) will be deducted
      from any fee to which Piper is entitled pursuant to the
      clause (2).

Piper Jaffray will be paid a retainer in the amount of $50,000.

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

Teri Stratton, member of Piper Jaffray & Co., 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.

Piper Jaffray can be reached at:

     Teri Stratton
     PIPER JAFFRAY & CO.
     700 Louisiana, Suite 1900
     Houston, TX 77002
     Tel: (713) 236-9999

                  About Rotary Drilling Tools USA

Rotary Drilling Tools USA, LLC, manufactures and markets oilfield
drilling tubular tools. Rotary Drilling Tools sought Chapter 11
protection (Bankr. S.D. Tex. Case No. 16-33435) on July 6, 2016.
Judge Jeff Bohm is assigned to the case. The Debtor estimated
assets and liabilities in the range of $10 million to $50 million.

Brooke B Chadeayne, Esq., and Elizabeth M Guffy, Esq., at Locke
Lord Bissell & Liddell, LLP, serve as the Debtor's counsel. The
petition was signed by Bryan M. Gaston, chief restructuring
officer.

The Office of the U.S. Trustee appointed seven creditors to serve
on the official committee of unsecured creditors in the Chapter 11
cases of Rotary Drilling Tools USA, LLC, and its affiliates. The
Committee is represented by Christopher D. Johnson, Esq., Hugh M.
Ray, III, Esq., and Benjamin W. Hugon, Esq., at McKool Smith P.C.


SAMSON RESOURCES: Outlines Revised Chapter 11 Exit Plan
-------------------------------------------------------
Peg Brickley, writing for The Wall Street Journal, reported that
Samson Resources Corp. has signed a revised restructuring pact with
a group of creditors that calls for the oil-and-gas company to exit
bankruptcy with its top-ranking loan paid off and equity in the
hands of second-lien lenders.

According to the report, Tulsa, Okla.-based Samson is battling
junior creditors in bankruptcy court and must either defeat them or
win them over in order to make the restructuring proposal a
reality.

The agreement signed Aug. 26 pledges investors holding 39% of
Samson's second-lien loan claims to support a new chapter 11 plan
that should be filed within days, the report related.

The revamped turnaround plan comes as Samson is taking bids on its
oil-and-gas assets and fending off challenges from junior
creditors, the report further related.

Proceeds of the asset sales will be used to pay down Samson’s top
loan, while the rest of the loan will be refinanced, court papers
outlining the revamped proposal say, the report said.  Samson will
also tap the value of its commodity hedging contracts to help
reduce the loan, the report added.

If the revamped turnaround strategy plays out as proposed,
investors in Samson’s $1 billion second-lien debt get the
company, and a share of a settlement trust to be set up as part of
a chapter 11 exit plan, the report said, citing the outline of the
revamped proposal filed Friday in the U.S. Bankruptcy Court in
Wilmington, Del.

                      About Samson Resources

Samson Resources Corporation, et al., filed Chapter 11 bankruptcy
petitions (D. Del. Lead Case No. 15-11934) on Sept. 16, 2015.
Philip W. Cook, the executive vice president and
chief financial officer, signed the petition.  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.

                          *     *     *

The Debtors, on May 16, 2016, filed a new debt-for-equity Chapter
11 Plan, a copy of whose Disclosure Statement is available at
http://bankrupt.com/misc/SAMSONds0517.pdf  

The Plan 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.

In a subsequent filing, the Creditors Committee submitted a motion
in court seeking the termination of the Debtors' exclusivity
periods to file, and solicit acceptances for that, a Chapter 11
plan.  As reported in the May 26, 2016 edition of The Troubled
Company Reporter, the Committee claimed that "the Debtors' Amended
Plan on file represents a no win choice for unsecured creditors:
vote for the plan and get less than one would in a Chapter 7
liquidation; fight the plan and either get nothing or end up six
months down the road with no plan and administrative expenses
running out of control."


SCOTTS MIRACLE-GRO: S&P Affirms 'BB' CCR, Outlook Stable
--------------------------------------------------------
S&P Global Ratings affirmed its 'BB' corporate credit rating on
Marysville, Ohio-based Scotts Miracle-Gro Co.  The outlook is
stable.

"At the same time, we affirmed our 'B+' rating on the company's
senior unsecured debt with a recovery rating of '6', indicating our
expectation that creditors could expect negligible (0% to 10%)
recovery in the event of a payment default.  We also raised our
rating on the company's $1.9 billion senior secured bank credit
facility to 'BB+' from 'BB', and revised the recovery rating to '2'
(at the lower end of 70%-90% range) from '3'," S&P noted.

"The corporate credit rating affirmation on Scotts reflects our
expectation for continued satisfactory operating performance and
increased share repurchase activity, which will lead to credit
ratio deterioration over the next two years, including adjusted
debt to EBITDA in the mid-3x area as of fiscal year end 2018," said
S&P Global Ratings credit analyst Gerald Phelan.

The ratings on Scotts reflect the company's dominant position in
the lawn and garden product industry, which S&P Global Ratings
considers to be a large and important category for Scotts' key
retail customers; and the solid market shares and good consumer
awareness of its Scotts, Miracle-Gro and Ortho brands.  The company
is also Monsanto Co.'s exclusive marketing and distribution agent
in certain countries for the popular consumer herbicide Roundup,
which accounts for about 15% to 20% of Scotts' profits.  Scotts'
brands are generally the clear market leader in their categories;
they face some private-label competition, particularly in
fertilizers, but still have meaningfully higher market shares.
Scotts also faces solid competition from Spectrum Brands Inc. and
Bayer AG (both in pest and weed controls), Central Garden & Pet Co.
(in grass seeds), and numerous regional competitors in growing
media, in which barriers to entry are low.

S&P's ratings also incorporate Scotts' focus in a highly seasonal
industry, which adverse weather conditions can hurt; the potential
for volatile input costs; the company's high customer concentration
(albeit with long-term relationships with financially solid
retailers); and ongoing perceived health and environmental risks
associated with many of its products, which S&P assumes the company
will continue to successfully mitigate.  In particular, S&P makes
the assumption that glyphosate--the active ingredient in
Roundup--will not be banned in the U.S. for at least the next five
years, and litigation-- including the uncertified Morning Song Bird
Food class action--will not have a material adverse effect on the
company.

The outlook is stable.  S&P forecasts relatively consistent
operating performance though believe debt will increase and credit
ratios weaken as a result of more aggressive financial policy,
resulting in debt to EBITDA sustained in the low- to mid-3x area
and FFO to debt around 20% over the next year.

S&P could lower the ratings over the next year if Scotts' operating
performance deteriorates meaningfully, potentially from substantial
input cost volatility, intense competition, unexpected customer
losses, extreme weather conditions in the U.S. during the company's
peak season, unfavorable developments related to the Roundup brand,
or more aggressive financial policy, such that S&P projects
year-end leverage to be sustained above 4x.  S&P estimates this
could occur if EBITDA declines by more than 20% or debt increased
by more than $500 million.

Although highly unlikely over the next year, S&P could raise the
ratings if it believes the company will moderate its financial
policies such that the credit ratio deterioration reverses.  For
this to occur, S&P would need to see a more transparent commitment
to sustaining leverage at or below 3x.  S&P estimates this could
occur after 2016 under a scenario in which organic profits grow by
a low-single-digit rate and the company directs the majority of
discretionary cash flow after dividends to debt reduction.


SFX ENTERTAINMENT: Creditors' Panel Hires Alvarez as Expert
-----------------------------------------------------------
The Official Committee of Unsecured Creditors of SFX Entertainment,
Inc., et al., seeks authority from the U.S. Bankruptcy Court for
the District of Delaware to employ Alvarez & Marsal Valuation
Services, LLC as expert consultant and Neil J. Beaton as expert
witness to the Committee, nunc pro tunc to August 2, 2016.

The Committee requires Alvarez and Mr. Beaton to:

   a. provide expert consulting services regarding the valuation
      of the Debtors' business in connection with the Plan and
      Disclosure Statement and the Contingent Value Rights
      contemplated by the Plan;

   b. provide expert testimony regarding the valuation of the
      Debtors' business in connection with the Plan and
      Disclosure Statement and the Contingent Value Rights
      contemplated by the Plan;

   c. assist with the preparation of affidavits/declarations,
      depositions and briefing in the bankruptcy case, if
      necessary; and

   d. prepare for and provide both deposition and court testimony
      in the bankruptcy case.

Alvarez will be paid at these hourly rates:

     Managing  Directors      $750-$950
     Senior  Directors        $650-$750
     Directors                $550-$650
     Managers                 $450-$550
     Senior  Associates       $350-$450
     Associates               $250-$350
     Analysts and Staff       $150-$250

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

Neil J. Beaton, managing director of Alvarez & Marsal Valuation
Services, 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.

Alvarez can be reached at:

     Neil J. Beaton
     ALVAREZ & MARSAL VALUATION SERVICES, LLC
     1201 Third Avenue, Suite 800
     Seattle, WA 98101
     Tel: (206) 664-9000
     Fax: (206) 664-8901

                     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 $662 million and total debt
of $490 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 Debtor hired FTI Consulting Inc. to provide crisis and
turnaround management services.

An Official Committee of Unsecured Creditors has retained Pachulski
Stang Ziehl & Jones LLP as counsel, and Conway Mackenzie, Inc., as
financial advisor.



SHULL PLUMBING: Has Until Oct. 4 to Use Cash Collateral
-------------------------------------------------------
Judge Jacqueline P. Cox of the U.S. Bankruptcy Court for the
Northern District of Illinois authorized Shull Plumbing, Inc., to
use cash collateral through Oct. 4, 2016.

Libertyville Bank & Trust Co. asserted secured claims against some
or all of the Debtor's assets, including the Debtor's cash and
accounts receivable.

Libertyville Bank was granted replacement liens upon and security
interests in the Debtor's postpetition cash and accounts receivable
in the same priority as Libertyville Bank's existing, prepetition
liens.

A status hearing for the continued use of cash collateral is
scheduled on Oct. 4, 2016 at 10:00 a.m.
  
A full-text copy of the Order, dated Aug. 24, 2016, is available at
https://is.gd/8Z7V7J
              
                   About Shull Plumbing

Shull Plumbing, Inc., filed a chapter 11 petition (Bankr. N.D. Ill.
Case No. 15-38005) on Nov. 8, 2015.  The petition was signed by
Sheldon J. Shull, president.  The Debtor is represented by Joseph
E. Cohen, Esq., at Cohen & Krol.  The Debtor estimated assets at
$100,001 to $500,000 and liabilities at $500,001 to $1 million.


SIGNET JEWELERS: Fitch Lowers IDR to 'BB+'; Outlook Stable
----------------------------------------------------------
Fitch Ratings has downgraded the Long-Term Issuer Default Rating
for Signet Jewelers Limited to 'BB+' from 'BBB-'. The Rating
Outlook is Stable.

The downgrade is due to weakening operating trends across Signet's
brands, coupled with the announcement of a $625 million preferred
equity investment by Leonard Green & Partners (Leonard Green),
which Fitch treats as debt.  Together, these issues are expected to
elevate Signet's leverage profile over the medium term.

The ratings continue to reflect Signet's leading share in the
specialty jewelry market in the U.S. as well as the U.K. and
Canada.  The ratings also reflect EBITDA upside from both long term
sales growth opportunities and expense synergies related to the
company's 2014 acquisition of Zale.

                          KEY RATING DRIVERS

Recent Trends Show Softness

Following strong annual comps in recent years, 2016 comps have
weakened to 2.4% in Q1 and -2.3% in Q2.  While the overall U.S.
jewelry category has somewhat slowed, the sharp comps deceleration
has been unexpected and the source of weakness is somewhat unclear.
Fitch forecasts comps will remain in the negative low-single
digits for the remainder of 2016.  The company is implementing or
strengthening initiatives around marketing, product introductions,
and customer service, and Fitch projects these initiatives will
improve comps to the low-single digit range beginning 2017.

Fitch currently projects modestly negative comps and sales growth
in 2016.  EBITDA margin pressure due to unplanned promotional
events and fixed-cost deleverage is expected to be mitigated by
Zale synergies, which continue to track in-line with management
forecasts.  As a result, 2016 EBITDA is expected to be $1 billion,
flattish to 2015 levels, with EBITDA growth resuming in 2017 on
improved sales and continued realization of Zale synergies.  The
company continues to expect $225 million - $250 million of annual
synergies by the end of 2017.

Long Term Prospects Remain Favorable

Fitch expects Signet, on a standalone basis, to generate mid-single
digit top-line growth beginning in 2017, assuming it laps the
current weakness.  The mid-single digit growth would be driven by
comps growth in the 2% range and modest contribution from store
expansion as the company focuses on off-mall expansion for Kay.
Zale-related brands are expected to grow in the low-single digit
range mainly on same store sales, with some modest contribution
from square footage expansion.  As a result, consolidated EBITDA is
expected to grow to approximately $1.2 billion by 2018 from 2016
projected and 2015 base of $1 billion.

Debt Notching and Treatment of Hybrid Security

Fitch has downgraded the existing $400 million senior unsecured
notes at Signet UK Finance plc to 'BB+' from 'BBB-' and assigned
Recovery Ratings (RR) of RR4, indicating average recovery
prospects.  The ratings on the senior unsecured notes reflect the
consolidated credit profile of Signet.  Signet and certain
subsidiaries of Signet will fully and unconditionally guarantee the
payment obligations of Signet UK Finance plc's notes.  The notes
will be pari passu with all the existing and future unsecured and
unsubordinated obligations at Signet and certain subsidiaries of
Signet.

The company has announced a $625 million convertible preferred
investment by Leonard Green, with proceeds to be deployed toward
share repurchase.  Fitch believes the investment and repurchase are
being driven by both challenging operations as well as negative
media attention on Signet, alleging aggressive accounting treatment
of its bad debt expense and diamond-switching (both of which the
company has denied).

Fitch has given 0% equity credit to the $625 million of convertible
preferred securities.  Permanence of the capital structure - in
this case the proposed convertible preferreds - is necessary for
equity credit recognition.  Fitch has taken a view that the new
proposed securities are not conducive to maintaining them as a
permanent part of the capital structure, with the main purpose to
support the company's stock price.  As a result, Fitch does not
believe this transaction will enhance the credit protection
measures.  Fitch would expect the company to refinance the
convertibles with debt over the medium term.

Fitch has assigned the convertible securities a rating of
'BB-/RR6', two notches below the IDR to reflect their subordination
in the capital structure.

Leverage Expected to Move Above Mid-3x

As a result of reduced EBITDA expectations and incremental debt,
Fitch expects the consolidated leverage ratio to increase from 3.7x
in 2015 to the low-4.0x range in 2016, before trending to the 4.0x
range by 2018.  Fitch's assessment of Signet's credit profile
incorporates a retail adjusted leverage.  Signet is one of a select
group of retail companies that still own their credit card
receivables and assigns a portion of the company's debt to the more
highly leveraged credit card business.  This is consistent with
Fitch's practice of treating debt for companies that fund their own
credit card receivables.

Fitch assumes Signet's net credit card receivables could be
financed using a mix of 70% debt and 30% equity, with a cap of
$1 billion, which translates into approximately $1 billion of debt
attributed to the receivables financing business.  This includes
the $600 million asset-backed facility.  Retail-related debt
therefore is composed of corporate debt that is not allocated to
the credit card business and leases capitalized using 8.0x rent
expense.

Based on these adjustments, core retail debt/EBITDAR is expected to
increase to the high 3.0x range in 2016 from a 2015 level of 3.3x,
and trend toward the mid-3.0x range over the following 24 months.

The company has announced a strategic review of its receivables
business, which could result in a strategic partnership or sale.

Implicit in Fitch's above assumptions is that if Signet ever sold
its receivables portfolio, it would pay down debt directly secured
by credit card receivables as well as allocated unsecured corporate
debt to a level consistent with Fitch's assumption.

Leading Share in Specialty Jewelry

Signet generated $6.6 billion in revenue and roughly $1 billion in
adjusted EBITDA (adding back acquisition related charges) in 2015
(ending January 2016), which includes a full year of contribution
from Zale.

Signet operates over 3,600 stores in the U.S., UK and Canada under
various well-known brands, post its acquisition of Zale Corporation
in May 2014.  Kay Jewelers, Jared the Galleria of Jewelry, and Zale
hold a combined share of approximately 16% to 17% of the U.S.
specialty jewelry market ($30 billion in industry sales in 2015
according to U.S. Census Bureau).  Kay and Zale hold the number 1
and 2 market position in the U.S. mall-based specialty retail
jewelry space, respectively, and Jared is the number 1 off-mall
specialty retail jeweler.  In addition, Zale is number 1 in Canada
under its Peoples brand (roughly 3% of total revenue) and Signet
holds the leading market shares in the UK under its H.Samuel and
the Ernest Jones brands (roughly 11% of total revenue).

Signet has generated strong annual top-line and EBITDA growth since
the recession, driven by the growth of the specialty jewelry
industry of roughly 3% annually over the past five years; continued
industry consolidation; and the company's strong execution of its
growth initiatives.  The expanded retail footprints of its strong
concepts such as Kay and Jared, restructuring of regional brand
stores, increasing penetration of its exclusive brand portfolio
(representing approximately 32.6% of Jared and Kay sales and 42.9%
of Zale sales in 2015) and increasing vertical integration of its
supply chain have helped drive mid-to-high single-digit growth in
same store sales and EBITDA margin improvement to 15.2% in 2015
from 9.7% in 2007.

Zale, which has underperformed historically, was in a turnaround
mode since 2010 and turned profitable in 2013 on a net income basis
on EBITDA of $76 million or EBITDA margin of 4%.  Fitch expects
Zale's adjusted EBITDA margin to improve to the high single digit
range by 2018.

                          KEY ASSUMPTIONS

   -- For 2016, Fitch expects Signet topline to be flattish and
      Zales down low-single digits, both on comps of around -1%.
      Assuming sales trends recover in 2017, Fitch expects Signet
      on a standalone basis will generate mid-single digit top-
      line growth and revenue for Zale-related brands to grow in
      the low-single digit range, mainly on same-store sales.

   -- Fitch expects 2016 EBITDA to be flattish around $1 billion,
      as negative comps trends are mitigated by Zale synergies.
      Over the following 24 months, the combination of positive
      sales trends and further synergies could drive EBITDA toward

      $1.2 billion.

   -- Fitch expects FCF in 2016 to be in the $160 million range,
      with the potential to decline to $70 million in 2017 and
      2018 due to increased capex and dividends.

   -- Fitch expects that Signet's retail adjusted leverage will
      increase to the high-3.0x range in 2016 from a 2015 level of

      3.3x, based on flattish EBITDA and the addition of
      $625 million of preferred equity investment. Leverage is
      expected to modestly decline over the following 24 months
      but remain above 3.5x.

                       RATING SENSITIVITIES

A positive rating action could result in the event of better than
expected top-line and profitability trends and/or higher than
expected debt reduction that would lead to retail adjusted leverage
being sustained under 3.5x.

A negative rating action could result in the event of one or more
of the following: (i) continued weakness in top-line trends and
EBITDA into 2017, and (ii) a more aggressive financial policy that
keeps retail adjusted leverage above 4.0x over the medium term.

                            LIQUIDITY

Signet had $119 million in cash at the end of the second quarter of
2016, borrowings of approximately $200 million under its $700
million unsecured revolving credit facility (recently increased
from $400 million), and a fully drawn $600 million asset-backed
securitization facility.  The company has generally generated
positive free cash flow (FCF) over the past four years, averaging
approximately $100 million once removing 2014, which was
FCF-neutral due to the Zale integration.  Annual FCF is expected to
be around $150 million in 2016, similar to 2015, but could decline
to the $50 million - $100 million range beginning 2017 on increased
capital expenditures and dividends.

FULL LIST OF RATING ACTIONS

Fitch has downgraded Signet's ratings as:

Signet Jewelers Limited (Signet):
   -- Long-Term IDR to 'BB+' from 'BBB-'.

Signet UK Finance plc:
   -- Guaranteed senior unsecured debt securities to 'BB+/RR4'
      from 'BBB-'.

Fitch has also assigned this rating:

Signet Jewelers Limited:
   -- Convertible preferred securities 'BB-/RR6'.

The Rating Outlook is Stable.



SMILE BRANDS: S&P Affirms Then Withdraws 'CCC+' Corp. Credit Rating
-------------------------------------------------------------------
S&P Global Ratings affirmed its 'CCC+' corporate credit rating on
Irvine, Calif.-based dental services company Smile Brands Group
Inc.  The outlook is negative.

At the same time, S&P affirmed the 'CCC+' issue-level rating on the
company's senior secured debt.  The debt has a '4' recovery rating,
which indicates S&P's expectation for average (30%-50%, at the
lower end of the range) recovery in the event of default.

Subsequently, S&P withdrew all ratings on Smile Brands at the
issuer's request.

The rating actions follow San Francisco-based Gryphon Investors'
acquisition of Smile Brands.  S&P's affirmation of its corporate
credit rating on Smile Brands reflects the company's negative
operating cash flow and S&P's belief that the capital structure is
unsustainable in the absence of favorable business, financial, and
economic conditions.  S&P's negative outlook reflects its
expectation that, without extraordinary support, Smile Brands'
financial condition could continue to deteriorate.



SNYDER & SCHNEIDER: Hires Gonzalez as Attorney
----------------------------------------------
Snyder & Schneider Property Development, LLC, seeks authority from
the U.S. Bankruptcy Court for the Western District of Virginia to
employ the Law Office of Edward Gonzalez, PC as attorney to the
Debtor.

Snyder & Schneider requires Gonzalez to:

   a. serve as lead counsel in the bankruptcy case;

   b. represent the Debtor in the Chapter 11 case and advise the
      Debtor as to its rights, duties and powers as a debtor-in-
      possession;

   c. prepare and file all necessary statements, schedules, and
      other documents and negotiate and prepare one or more plans
      of reorganization for the Debtor;

   d. represent the Debtor at all hearings, meetings of
      creditors, conferences, trials, and other proceedings in
      the bankruptcy case; and

   e. perform such other legal services as may be necessary in
      connection with the case.

On July 5, 2016, the Debtor paid Gonzalez a retainer in the amount
of $20,000.

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

Edward Gonzalez, member of the Law Office of Edward Gonzalez, PC,
assured the Court that the firm is a "disinterested person" as the
term is defined in Section 101(14) of the Bankruptcy Code and does
not represent any interest adverse to the Debtor and its estate.

Gonzalez can be reached at:

     Edward Gonzalez, Esq.
     LAW OFFICE OF EDWARD GONZALEZ, PC
     2405 I Street, N.W., Suite 1-A
     Washington, DC 20037
     Tel: 202-822-4970
     E-mail: eg@money-law.com

                  About Snyder & Schneider

Snyder & Schneider Property Development, LLC, based in Mineral, VA,
filed a Chapter 11 petition (Bankr. W.D. Va. Case No. 16-61362) on
July 6, 2016. The Hon. Rebecca B. Connelly presides over the case.
Edward Gonzalez, Esq., at the Law Office of Edward Gonzalez, PC,
serves as bankruptcy counsel.

In its petition, the Debtor estimated $0 to $50,000 in assets and
$10 million to $50 million in liabilities. The petition was signed
by Jeff Snyder, manager.

No official committee of unsecured creditors has been appointed in
the case.



SNYDER VIRGINIA: Hires Gonzalez as Attorney
-------------------------------------------
Snyder Virginia Properties, LLC, seeks authority from the U.S.
Bankruptcy Court for the Western District of Virginia to employ the
Law Office of Edward Gonzalez, PC as attorney to the Debtor.

Snyder Virginia requires Gonzalez to:

   a. serve as lead counsel in the bankruptcy case;

   b. represent the Debtor in the Chapter 11 case and advise the
      Debtor as to its rights, duties and powers as a debtor-in-
      possession;

   c. prepare and file all necessary statements, schedules, and
      other documents and negotiate and prepare one or more plans
      of reorganization for the Debtor;

   d. represent the Debtor at all hearings, meetings of
      creditors, conferences, trials, and other proceedings in
      the bankruptcy case; and

   e. perform such other legal services as may be necessary in
      connection with the case.

On July 5, 2016, the Debtor paid Gonzalez a retainer in the amount
of $20,000.

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

Edward Gonzalez, member of the Law Office of Edward Gonzalez, PC,
assured the Court that the firm is a "disinterested person" as the
term is defined in Section 101(14) of the Bankruptcy Code and does
not represent any interest adverse to the Debtor and its estate.

Gonzalez can be reached at:

     Edward Gonzalez, Esq.
     LAW OFFICE OF EDWARD GONZALEZ, PC
     2405 I Street, N.W., Suite 1-A
     Washington, DC 20037
     Tel: 202-822-4970
     E-mail: eg@money-law.com

                     About Snyder Virginia

Snyder Virginia Properties, LLC, based in Mineral, VA, filed a
Chapter 11 petition (Bankr. W.D. Va. Case No. 16-61364) on July 7,
2016. The Hon. Rebecca B. Connelly presides over the case. Edward
Gonzalez, Esq., at the Law Office of Edward Gonzalez, PC, serves as
bankruptcy counsel.

In its petition, the Debtor estimated $0 to $50,000 in assets and
$10 million to $50 million in liabilities. The petition was signed
by Jeff Snyder, manager.

No official committee of unsecured creditors has been appointed in
the case.


SOLYMON YASHOUAFAR: More Creditors Seek Ch. 11 Trustee Appointment
------------------------------------------------------------------
Van Nuys Plywood, LLC, PY Note Investors, LLC, and Danny Pakravan,
creditors of Solymon Yashouafar, asked the U.S. Bankruptcy Court
for the Central District of California to enter an order directing
the appointment of a Chapter 11 trustee.

According to the creditors, given the Debtor's past financial
performance, including numerous defaults of millions of dollars of
obligations and gross mismanagement of assets, there is a need for
a Chapter 11 trustee in the bankruptcy case.

The Creditors said they join in Howard L. Abselet's action, both
having similar concerns and setting a collusive bankruptcy designed
to provide Debtor with the benefit of the automatic stay without
the burdens imposed on a chapter 11 debtor.  Mr. Abselet previously
filed a motion seeking the appointment of a Chapter 11 trustee.

In the Abselet Action, the District Court described the Debtor and
Massoud as "crooks," and found that the Debtor: (i) fabricated
documentary evidence; (ii) engaged in fraudulent transfers; and
(iii) incurred their debt to Abselet through fraud. In the Van Nuys
Action, the Superior Court: (i) stated that it "did not believe or
trust" the Debtor's testimony; (ii) found Massoud's contentions
"deeply troubling;" and (iii) found that Massoud, or someone at his
direction, was responsible for the faxes that falsely represented
the transfer of the Sunset Property to delay the Foreclosure Sale.
Sunset Property is a real property owned by the Debtor's mother
subject to a promissory note and deed of trust in favor of creditor
PY Note Investors (PY), which false transfer of the same property
stayed its Foreclosure Sale causing delay.

The common concern between the two cases demonstrates the lack of
trust in the Debtor's management, which will likely result in
greater litigation costs, the creditors said.  Appointment of a
trustee not only will mitigate such costs, but will serve to
protect the integrity of the bankruptcy system, the creditors tell
the Court.

The bankruptcy case is In Re Solyman Yashouafar, Case No.
1:16-bk-12255-MT (Bankr. C.D. Calif.).


SPANISH ISLES: Trustee Hires Branstetter as Accountant
------------------------------------------------------
Margaret J. Smith, the Chapter 11 Trustee of Spanish Isles Property
Owners' Association, Inc., seeks authority from the U.S. Bankruptcy
Court for the Southern District of Florida to employ Branstetter
Tax & Accounting Services, Inc. as accountant to the Trustee.

Ms. Smith requires Branstetter to assist in preparing the 2015 tax
return of the Debtor.

Branstetter will be paid a fixed fee of $450.

Tammy L. Schmidt, member of Branstetter Tax & Accounting Services,
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.

Branstetter can be reached at:

     Tammy L. Schmidt
     BRANSTETTER TAX & ACCOUNTING SERVICES, INC.
     400 S. Dixie Highway, Suite 423
     Boca Raton, FL 33432
     Tel: (561) 368-0282
     Fax: (561) 368-4513
     E-mail: tammy@branstettertax.com

                       About Spanish Isles

Spanish Isles Property Owners Association, Inc., filed a Chapter 11
bankruptcy petition (Bankr. S.D. Fla. Case No. 14-34444) on
November 2, 2014, disclosing under $1 million in both assets and
liabilities. The Debtor is represented by Brett A Elam, Esq.

No official committee of unsecured creditors has been appointed in
the case.



SPORTS AUTHORITY: Defends $1.5 Million Bonus Program
----------------------------------------------------
Sports Authority Holdings, Inc., fka TSAWD Holdings, Inc., and
their debtor-affiliates filed papers with the Delaware Bankruptcy
Court to defend their bid for approval of a Modified Executive
Incentive Program and to make payments under the Program, as well
as to file the Unredacted Modified Key Employee Incentive Program
under seal.

The United States Trustee has objected to those requests.

The Debtors tell the Court that they are cognizant of the remarks
made by the Court at the hearing held to consider the Original
Incentive Plan, and the position of the Office of the United States
Trustee with respect to executive incentive plans in general.  The
Debtors say they have reformulated and scaled back their proposed
incentive plan in response thereto.

The Modified KEIP, according to the Debtors, reflects the current
reality of these cases:

     -- The Debtors' management team explored every reasonable
possible pre- and post-petition avenue to exit the Chapter 11 Cases
as a going concern. In particular, and as described at the first
day hearing, they attempted to find a plan sponsor or purchaser of
substantially all of their assets as a going concern. One of their
primary goals was to preserve thousands of jobs for the employees
who had been the lifeblood of the Debtors.

     -- Unfortunately, the Debtors could not achieve a going
concern outcome and, in consultation with their lenders and the
Official Committee of Unsecured Creditors, determined to maximize
value for the estates through the Court-approved GOB Sales.

     -- Although the Debtors have sold substantially all of their
assets, the Debtors cannot maximize the net proceeds from the GOB
Sales without an enormous administrative effort – including
negotiating the complex post-GOB Sales reconciliation with the
Agent. Without that effort, the Debtors could leave tens of
millions of dollars on the table and away from the reach of their
stakeholders.

     -- The Debtors are now left without the bulk of their senior
management team -- the Chief Executive Officer, Chief Financial
Officer, Chief Merchant and other key executives have resigned. The
remaining executives were not the ultimate decision-makers with
respect to the commencement of the Chapter 11 Cases, but are
absolutely essential to winding-down these estates in a
value-maximizing way.

The Debtors retained experts to ensure that the Modified KEIP
constitutes a true incentive plan with objective metrics that are
specifically designed to incentivize three of the remaining members
of the Debtors' management team to achieve goals that will maximize
and preserve value for the benefit of the Debtors' stakeholders.
Further, the Modified KEIP was the product of extensive planning
and analysis to ensure that it directly incentivizes the KEIP
Participants to meet applicable objectives that evidence will
reveal are far from a "slam dunk."

On the other hand, the Objection reflects a categorical opposition
to executive incentive plans, which could have been filed in any
liquidating chapter 11 case.  The  Objection ignores the
incentive-based nature of the Modified KEIP and the high degree of
execution risk involved in the achievement of the incentive
metrics.

The Debtors submit that the facts and circumstances of the Chapter
11 Cases amply support the Modified KEIP, which was proposed in the
Debtors' sound business judgment
in satisfaction of section 503(c)(3) of the Bankruptcy Code.

Dewey Imhoff, am a Senior Managing Director at FTI Consulting,
Inc., tells the Court that the Modified KEIP is not a "pay to stay"
retention plan. Instead, the Modified KEIP utilizes metrics in
order to ensure that the KEIP Participants are incentivized to
maximize value in the most efficient manner possible.  The Modified
KEIP successfully aligns the interests of the Debtors, their
employees, and their creditors and is a true incentive plan.

Mr. Imhoff explains that the Modified KEIP provides for variable
payouts to the KEIP Participants based upon the achievement of the
two KEIP Metrics, (a) the
success of the GOB Sales as measured by the extent to which the
Debtors trigger the sharing provision in the Agency Agreement and
(b) the management of Controllable Costs during the remainder of
the Chapter 11 Cases as measured by the extent to which the Debtors
are able to minimize the Controllable Costs included in the
Court-approved Wind-Down Budget. Each of the KEIP Metrics accounts
for a portion of the proposed aggregate maximum incentive bonus
amount of $1,425,000 under the Modified KEIP -- the amount could be
zero, or considerably less, if the Debtors do not achieve, and in
fact greatly exceed, the stated KEIP Metrics.

     $1,425,000 Aggregate Maximum Incentive Bonus

         $1,100,000 of the aggregate maximum incentive bonus
                    amount is tied to the GOB Contribution.
                    Under section 3.2 of the Agency Agreement,
                    a sharing of profits is paid to the Debtors
                    after the guarantee amount (101.0% of
inventory
                    cost) plus the amount of the agency fee (6.0%)

                    is achieved. If sharing is triggered, the GOB
                    Contribution will be 7.5% of the excess
proceeds
                    that are paid to the Debtors, up to
$1,100,000.

           $325,000 of the aggregate maximum incentive bonus amount

                    is tied to keeping the Controllable Costs under

                    the projections in the Wind-Down Budget. The
                    Controllable Costs, which total $24.7 million
in
                   the Wind-Down Budget, equal operating cash
                   disbursements, plus professional fees, plus
costs
                   under the Court-approved employee retention
plan,
                   but excluding sales taxes. The Costs
Contribution
                   will be 7.5% of Controllable Cost savings, up to

                   $325,000.

The proposed individual maximum incentive bonuses range from
$165,000 to $673,750, with an average of $475,000. Incentive
bonuses will be forfeited if a KEIP Participant resigns voluntarily
without "good reason" or is terminated "for cause".  In addition,
the KEIP Participants will only be eligible for incentive bonuses
under the Modified KEIP if they continue to provide the services
required by the Debtors, fully support the liquidation process and
Chapter 11 Cases, and execute the Form Release.

Mr. Imhoff may be reached at:

          Dewey Imhoff
          FTI Consulting, Inc.
          3 Times Square
          New York, NY 10036

                 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.


STRATEGIC ENVIRONMENTAL: NJ Judge Dismisses Chapter 11 Case
-----------------------------------------------------------
Bill Wichert, writing for Law360, reported that U.S. Bankruptcy
Judge Christine M. Gravelle granted a request by Acting U.S.
Trustee Andrew R. Vara to dismiss the case of Strategic
Environmental Partners LLC, because unsigned documents were filed
with the court.  The report noted the New Jersey landfill owner has
been charged with lying to the state about plans to develop the
site into a solar farm.  

The Court entered a brief order finding "good cause" for the
dismissal, the report added.

As reported by the Troubled Company Reporter on July 14, 2016, the
State of New Jersey, Department of Environmental Protection sought
appointment of a Chapter 11 trustee pursuant to 11 U.S.C. Sec.
1104(a) and (b) in the Chapter 11 cases of Strategic Environmental
Partners, LLC, Richard W. Bernardi and Marilyn I. Bernardi.  The
State of New Jersey claims the appointment of a Chapter 11 trustee
is warranted based upon the Debtors' historic misuse of corporate
resources for personal gain, and the criminal indictment of debtors
Richard Bernardi and SEP pending in the Superior Court of New
Jersey (Docket No. 16-02-00014-S) alleging false representation,
theft by deception, financial facilitation of criminal activity,
theft of services and misconduct by a corporate official.

                         About the Debtors

Strategic Environmental Partners, LLC, sought Chapter 11
protection
(Bankr. D.N.J. Case No. 16-22151) on June 23, 2016. Richard W.
Bernardi and Marilyn I. Bernardi also filed a Chapter 11 petition
(Case No. 16-22153).  Marilyn I. Bernardi is the owner of
Strategic
Environmental.

The case judge is Hon. Christine M. Gravelle.

The Debtors tapped Batya G. Wernick, Esq., at the Law Offices of
Batya G. Wernick, as counsel.  

SEP estimated assets of $10 million to $50 million and debt of
$1 million to $10 million.


SUNDEVIL POWER: Exclusive Plan Filing Period Extended to Oct. 7
---------------------------------------------------------------
Judge Kevin J. Carey of the U.S. Bankruptcy Court for the District
of Delaware extended Sundevil Power Holdings, LLC, et. al.'s
exclusive periods to file and solicit acceptances of a chapter 11
plan through October 7, 2016, and December 16, 2016, exclusively.

The Debtor's exclusive plan filing period expired on August 9,
2016, while its exclusive solicitation period is set to expire on
October 17, 2016.

The Troubled Company Reporter previously reported that the Debtors
filed a second motion asking the U.S. Bankruptcy Court to further
extend the exclusive periods during which they may file and solicit
acceptances of a plan.

The Debtors said in their motion that the sale process is on the
threshold of completion, with the Sale Hearing likely to occur on
August 23, 2016.  Under the circumstances of these cases, the plan
process could only begin in earnest after the sales process was
near completion, the Debtors tell the Court.

Accordingly, the Debtors ask the Court to extend the Plan Period a
further 60 days to October 7, 2016, along with a similar extension
of the Solicitation Period to December 16, 2016, to allow for a
smooth and orderly completion of the sale process.

                 About Sundevil Power Holdings, LLC.

Merchant power generators Sundevil Power Holdings, LLC and SPH
Holdco LLC sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. D. Del. Case Nos. 16-10369 and 16-10370,
respectively), on Feb. 12, 2016. The petitions were signed by Blake
M. Carlson as authorized signatory.

Sundevil Power Holdings, LLC, owns natural gas-fired power plants.
The Company was incorporated in 2010 and is based in Wayzata, MN.
The Debtors are merchant power generators through Sundevil's
ownership of two of the four 550 megawatt natural gas-fired power
blocks of the Gila River Power Station, located in Gila Bend,
Arizona.  Sundevil and the other power block owners sell energy
into the Southwest electric power market, specifically the
sub-region of Arizona, New Mexico, and Southern Nevada known as the
Desert Southwest.  Most of Sundevil's output is sold at the Palo
Verde hub and to California Independent System Operator.  Sundevil
also sells capacity to CAISO and is capable of reaching other
market hubs like Mead (Southern Nevada) and Four Corners.  The
Debtors estimated assets in the range of $100 million to $500
million and liabilities of at least $100 million.

The Debtors have engaged Vinson & Elkins LLP as legal counsel,
Drinker Biddle & Reath LLP as Delaware counsel, and Garden City
Group as claims and noticing agent.

Judge Kevin J. Carey is assigned to the case.

Bayard PA's Justin R. Alberto, Esq., has been appointed as Fee
Examiner.


TATUADO HOSPITALITY: Unsecured Creditors May Get 2% of Claims
-------------------------------------------------------------
General unsecured creditors of Tatuado Hospitality Management
Group, LLC, may get 1 to 2% of their claims, according to the
company's plan to exit Chapter 11 protection.

Under the restructuring plan, creditors will be paid approximately
1 to 2% of their Class 10 general unsecured claims from Tatuado's
excess income over 60 months after payment of all secured,
administrative and priority claims.   

General unsecured claims may receive no payments if Tatuado's
excess income is only sufficient to pay Classes 1 to 9 claims,
according to the company's disclosure statement filed with the U.S.
Bankruptcy Court in Nevada.

A copy of the disclosure statement is available for free at
https://is.gd/Ij8fUn

Tatuado is represented by:

     Samuel A. Schwartz, Esq.
     Bryan A. Lindsey, Esq.
     Schwartz Flansburg PLLC
     6623 Las Vegas Blvd. South, Suite 300
     Las Vegas, Nevada 89119
     Tel: (702) 385-5544
     Fax: (702) 385-2741
     Email: sam@nvfirm.com

                    About Tatuado Hospitality

Tatuado Hospitality Management Group, LLC, a Nevada company formed
in September 2013, operates two restaurants and bars in Southern
Nevada.  It owns Vince Neil's Tatuado Eat Drink Party located
inside the Circus Circus Hotel and Casino in Las Vegas, and Vince
Neil's Tatuado Wild Side Tavern located along Gamebird Road,
Pahrump

The Debtor sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. D. Nev. Case No. 16-10460) on February 1, 2016.  The
petition was signed by Michael F. Tsunis, manager.

The case is assigned to Judge August B. Landis.

At the time of the filing, the Debtor estimated assets of less than
$50,000 and liabilities of $1 million to $10 million.


TEMBEC INC: S&P Revises Outlook to Stable & Affirms 'B-' CCR
------------------------------------------------------------
S&P Global Ratings said it revised its outlook on Tembec Inc. to
stable from negative and affirmed its 'B-' long term corporate
credit rating on the company.

At the same time, S&P Global Ratings affirmed its 'B-' issue-level
rating on Tembec's US$375 million senior secured notes due 2019.
The '4' recovery rating on the debt is unchanged, indicating S&P's
expectation of average (30%-50%; in the lower half of the range)
recovery in a default scenario.

"The outlook revision reflects year-to-date operating performance
that is stronger than we previously expected, which has contributed
to improved liquidity," said S&P Global Ratings credit analyst
Alessio Di Francesco.  

This improvement was due in large part to the company's specialty
cellulose and paper segments, which S&P believes benefited from
higher operating rates, lower net energy costs, and a weaker
Canadian dollar.  S&P believes the company will generate adjusted
EBITDA interest coverage of about 2x by the end of this fiscal
year, which S&P believes it can sustain through 2018.  As a result,
S&P sees the likelihood of a downgrade has declined in its view and
supports a stable outlook.

S&P considers Tembec's business risk profile vulnerable.  This
incorporates the company's participation in the highly fragmented
and cyclical lumber, paper pulp, and paper markets for which it has
limited pricing power.  S&P believes the company's competitive
advantage is stronger within its specialty cellulose business,
which S&P views as a niche market with a favorable demand profile
and higher barriers to entry when compared with its other segments.
Tembec controls about 15% of global specialty cellulose capacity
and has a leading position in the high-value ethers market.
Despite this, pricing is very competitive among the short list of
incumbents and new capacity can quickly disrupt prices and
profitability, which S&P has seen in recent years.

The business risk profile also incorporates S&P's view that the
company's adjusted EBITDA margins are below the 11%-19% range that
S&P considers average for the forest and paper products industry.

U.S. dollar-denominated lumber pricing has shown strong momentum
this summer that S&P expects should translate into strong
fourth-quarter results for the segment.

S&P revised Tembec's liquidity to adequate from less than adequate
to reflects our expectation that sources of cash will exceed uses
by more than 1.2x over the next 12 months.

The stable outlook reflects S&P's view that Tembec's adjusted
EBITDA interest coverage will remain above 1.5x and that it should
generate positive annual free cash flow, at least over the next 12
months.  This incorporates S&P's view that the company will sustain
productivity improvements in its specialty cellulose and paper
segments.

S&P could lower the ratings within the next 12 months if it
believes the company's adjusted EBITDA interest coverage will be
below 1.5x on a sustained basis or if the company's liquidity
profile deteriorates.  In this scenario, S&P expects Tembec would
likely generate negative discretionary cash flow which could lead
S&P to consider the company's financial commitments unsustainable
in the long term.

Although unlikely within the next 12 months, S&P could raise the
ratings within if it expects adjusted debt-to-EBITDA of about 4x
and adjusted EBITDA interest coverage of about 3x on a sustained
basis.  Given S&P's view of the company's high operating leverage,
this could occur if product pricing is significantly higher than it
assumes in its base-case scenario.


THE KIRK LLC: Cash Collateral Use Through Sept. 30 Approved
-----------------------------------------------------------
Judge Kevin R. Anderson of the U.S. Bankruptcy Court for the
District of Utah authorized The Kirk LLC to use cash collateral for
the period of July 27, 2016 to Sept. 30, 2016.

The Debtor and MRZ Investments, LLC, had entered into a Stipulation
for the use of cash collateral, which permits the Debtor to use
cash collateral consistent with the Budget dated Aug. 23, 2016, for
the limited period of July 30, 2016 to Sept. 30, 2016.

The Budget provides for total expenses in the amount of $16,399.

The Debtor contended that ForwardLine Financial, LLC, may have an
interest in the Debtor's cash collateral.  ForwardLine financial
did not file any response to the Debtor's Motion, despite being
given adequate notice.

Judge Anderson held that if the Debtor and MRZ reach further
agreement materially consistent with the Budget, the Debtor may
continue to use cash collateral for the time period Oct. 1, 2016 to
Oct. 31, 2016, without further agreement from ForwardLine or Order
from the Court.
  
A full-text copy of the Order, dated Aug. 24, 2016, is available at
https://is.gd/14yZKM
              
                            About The Kirk

The Kirk LLC filed a chapter 11 petition (Bankr. D. Utah Case No.
16-26470) on July 26, 2016.  The petition was signed by Andrew H.
Patten, chief restructuring officer.  The Debtor is represented by
T. Edward Cundick, Esq., at Prince, Yeates & Geldzahler.  The case
is assigned to Judge Kevin R. Anderson.  The Debtor estimated
assets and liabilities at $1 million to $10 million at the time of
the filing.


THI SELLING: Court OKs Cash Collateral Use on Final Basis
---------------------------------------------------------
Judge Charles E. Rendlen of the U.S. Bankruptcy Court for the
Eastern District of Missouri authorized THI Selling Corporation,
f/k/a Total Hockey, Inc., et al., to use cash collateral on a final
basis.

Judge Rendlen acknowledged that the ability of the Debtors to
finance the wind-down of operations requires the use of cash
collateral, the absence of which would cause immediate and
irreparable harm to the Debtors, their estates, their creditors,
and the possibility for successful chapter 11 cases.  He further
acknowledged that in the absence of the use of cash collateral, the
continued wind-down of the operations would not be possible and
serious and irreparable harm to the Debtors, their estates and
their creditors would occur.

The approved Cash Collateral Budget covered the period beginning
with the week ending Aug. 28, 2016 and ending on the week ending
Jan. 1, 2017.  The Budget provided for total operating expenses in
the amount of $91,000 for the week ending Aug. 28, 2016; $470,810
for the week ending Sept. 4, 2016; $75,000 for the week ending
Sept. 11, 2016; and $493,720 for the week ending Sept. 18, 2016.

Bauer's claim against the Debtors and their estates on account of
its liens and security interests in the Bauer Collateral was
reduced to the amount of $775,000.  The Debtors were directed to
pay Bauer the cash sum of $775,000 in full and complete
satisfaction of the Bauer Secured Claim.

Bauer's remaining unsecured deficiency claim against the Debtors
and their estates was allowed in the amount of $13.2 million.
Judge Rendlen authorized Bauer to receive pro rata distributions on
account of the Bauer Unsecured Deficiency Claim if all holders of
allowed general unsecured claims other than Bauer first receive
cash distributions equal to an aggregate recovery of five and
one-half percent, after which the Bauer Unsecured Deficiency Claim
shall share on a pari passu basis with all other allowed general
unsecured claims to the extent of any and all distributions to be
made by the Debtors in excess of the General Unsecured
Distributions Threshold.

A full-text copy of the Final Order, dated Aug. 24, 2016, is
available at https://is.gd/c1O2L9

                   About THI Selling Corporation

Headquartered in Maryland Heights, Missouri, Total Hockey, Inc.,
Player's Bench Corporation and Hipcheck, LLC sell lacrosse and
hockey equipment in 32 retail store locations and three
distribution centers in 12 states including Chicago, Minneapolis,
Detroit, and Philadelphia.  The Debtors were formed in in 1999 as a
spin off from a local general sporting goods company.

The Debtors operate e-commerce sites at
http://www.totalhockey.com/,http://www.goalie.totalhockey.com/,
and http://www.lacrosse.totalhockey.com/ In  2015, the Debtors  
generated 27% of their total sales, or approximately $17 million,
through e-commerce.

Each of the Debtors filed a voluntary petition under Chapter 11 of
the Bankruptcy Code (Bankr. E.D. Mo. Lead Case No. 16-44815) on
July 6, 2016, estimating assets in the range of $10 million to $50
million and liabilities of up to $100 million.  The petition was
signed by Lee A. Diercks, the chief restructuring officer.

The Debtors have hired Polsinelli PC as bankruptcy counsel, Spencer
Fane LLP as conflicts counsel, Clear Thinking Group LLC as
investment banker, and Rust Consulting/Omni Bankruptcy as claims
and noticing agent.

An Official Committee of Unsecured Creditors has been appointed in
the case and has retained Cooley LLP as lead counsel.


TIME INSURANCE: Moody's Withdraws Ba1 Ratings
---------------------------------------------
Moody's Investors Service has withdrawn the Ba1 insurance financial
strength ratings of Time Insurance Company and John Alden Life
Insurance Company.  The companies, whose business was placed into
runoff in June 2015, constitute the health insurance operations of
Assurant, Inc. (AIZ; senior debt at Baa2, stable outlook).  No
other AIZ ratings were affected by this rating action.

                         RATINGS RATIONALE

Moody's has withdrawn the rating for its own business reasons.

Assurant is a publicly-traded, diversified insurance operation
headquartered in New York, NY.  For the first six months of 2016,
Assurant reported total revenue of $3.9 billion and net income of
approximately $390 million.  Shareholders' equity was $4.6 billion
at June 30, 2016.

Moody's insurance financial strength ratings are opinions of the
ability of insurance companies to pay punctually senior
policyholder claims and obligations.



TRAFALGAR POWER: Proposes to Pay Unsecured Creditors in Full
------------------------------------------------------------
Trafalgar Power Inc. filed with the U.S. Bankruptcy Court for the
Northern District of New York a Chapter 11 plan of liquidation that
proposes to pay in full general unsecured non-insider claims.

Under the liquidating plan, Class 4 general unsecured non-insider
creditors will be paid a 100% dividend, without interest.  

The Class 4 creditors that will be paid based on their proofs of
claim filed or their listing in the original bankruptcy schedules
are:

     New York State Department of      $27,671
        Taxation and Finance   
     Jonathan Chait                    $22,500
     Alliance Energy Renewables LLC     $9,590
     Sears Roebuck and Co.                $499
     CT Corp.                             $195

Full payments to Class 4 creditors will be made from Trafalgar's
account within 30 days after the liquidating plan takes effect.  As
of July 1, 2016, the balance in the account is approximately $5.1
million.

Marina development Inc., the sole shareholder of Trafalgar, will
not be paid of its claim until all other payments are made.  The
company won't need to infuse any funds into Trafalgar upon
confirmation of the plan as all general unsecured non-insider
creditors will be paid in full.  

Once the remaining payments are made and the plan is completed,
there will not be any funds remaining in the Trafalgar account to
be paid to Marina.  The stock, however, will vest with Marina,
which will retain its 100% security ownership in Trafalgar,
according to the disclosure statement explaining the liquidating
plan.

A copy of the disclosure statement is available for free at
https://is.gd/svjSVt.

Trafalgar is represented by:

     Wendy A. Kinsella, Esq.
     Harris Beach PLLC
     333 West Washington Street, Suite 200
     Syracuse, NY 13202
     Tel: (315) 423-7100

                      About Trafalgar Power

Trafalgar Power Inc. and its two affiliates sought Chapter 11
protection with the U.S. Bankruptcy Court for the Eastern District
of North Carolina on August 27, 2001.  

The cases were transferred to the U.S. Bankruptcy Court for the
Northern District of New York by order of the court dated December
13, 2001.  The cases are jointly administered under Case No.
01-67457.


TRANSCARE CORP: Patriarch Partners Balks at Subpoena Bid
--------------------------------------------------------
Joyce Hanson, writing for Bankruptcy Law360, reported that
Patriarch Partners LLC, Lynn Tilton's private equity firm, asked a
New York federal judge on Aug. 29 to force a proposed class of
former TransCare Corp. employees to withdraw subpoenas against two
third parties, arguing the court is still deciding whether to send
the worker layoff case to bankruptcy court.  

The report also noted that U.S. District Judge Edgardo Ramos also
on Aug. 29 endorsed the letter and directed the lead plaintiff,
Jessica Gisinger, a former employee of TransCare, to respond to
Tilton's request.

TransCare was a for-profit ambulance company headquartered in
Brooklyn, New York.  TransCare provided ambulatory services in New
York City, Long Island, Westchester, Maryland, and Pennsylvania.

The bankruptcy case is In re: TRANSCARE CORP., et al., Chapter 7,
Debtors, Case No. 16-10407 (SMB), (Jointly Administered) (Bankr.
S.D.N.Y.).

Lynn Tilton is represented by Irena M. Goldstein, Esq., and
Kathleen M. McKenna, Esq., at PROSKAUER, ROSE LLP.

Salvatore LaMonica, the Chapter 7 Trustee, is represented by Holly
R. Holecek, Esq., at LaMONICA HERBST & MANISCALCO, LLP.


TRINIDAD DRILLING: S&P Lowers CCR to 'BB-' on Weak Credit Metrics
-----------------------------------------------------------------
S&P Global Ratings said it lowered its long-term corporate credit
rating on Calgary, Alta.-based Trinidad Drilling Ltd. to 'BB-' from
'BB'.  The outlook is stable.  At the same time, S&P Global Ratings
lowered its issue-level rating on the company's senior unsecured
debt to 'BB-' from 'BB'.  The '4' recovery rating is unchanged, and
indicates expected average (30%-50%; in the upper half of the
range) recovery in a default scenario.  S&P Global Ratings also
revised its financial risk profile assessment on the company to
aggressive from significant.

"The downgrade reflects the material deterioration on cash flow
adequacy and leverage metrics from the weak industry activity,
reduced day rates, and low rig utilization, lowering our financial
risk profile assessment on Trinidad," said S&PGR credit analyst
Wendell Sacramoni.  The lower ratings also represent S&P's view of
Trinidad's participation in the highly volatile contract drilling
segment of the oil and gas industry and its strong liquidity
profile.

In S&P's opinion, Trinidad's fair business risk profile reflects
the quality of its high performance rig fleet, the fleet size, the
company's ability to maintain fairly stable EBITDA margins through
the hydrocarbon price cycle, and a profitability profile that ranks
in the midrange of the global contract drilling peer group.

"We have revised our financial risk profile assessment to
aggressive from significant reflecting the company's weakened cash
flow adequacy and leverage metrics relative to those of our
previous forecast.  Under our updated base-case scenario, reduced
day rates and lower expected rig utilization in Canada and the U.S.
negatively affect Trinidad's projected cash flow.  As a result, our
estimates of its fully adjusted debt-to-EBITDA, funds from
operations (FFO)-to-debt, and free operating cash flow
(FOCF)-to-debt ratios have weakened dramatically from our earlier
estimates," S&P said.

"The stable outlook reflects our view that Trinidad will maintain a
three-year, weighted-average FFO-to-debt ratio above 12%,
debt-to-EBITDA below 5x, strong liquidity.  Although our base-case
scenario expects continued weakness in global oil and gas industry
activity, we expect the company will maintain its current drilling
and service offerings in its existing Canadian, U.S. and
international markets, albeit at reduced levels; and lower
forecasted revenues and cash flow.  Trinidad's ability to rapidly
reduce costs, as day rates have fallen, coupled with termination
fees have tempered the deterioration of its current and forecast
EBITDA margins.  We expect the company's overall competitive
position relative to that of its oilfield services peer group will
not change during our outlook period," S&P noted.

S&P could take a negative rating action if liquidity deteriorates
to adequate from strong and credit metrics deteriorate, such as
three-year, weighted-average FFO-to-debt falling below 12% and
debt-to-EBITDA rising above 5x from further decreases in industry
activity, utilization, and day rates.

S&P would take a positive rating action if Trinidad is able to
improve its three-year, weighted-average FFO-to-debt above 20%,
debt-to-EBITDA below 4x and FOCF-to-debt above 5% due to better
profitability, stronger industry activity, and higher utilization
and day rates.



TRONOX INC: Pa. Residents Ask 2nd Cir. to Revive Tort Suit
----------------------------------------------------------
Adam Lidgett, writing for Bankruptcy Law360, reported that a group
of 4,300 Pennsylvania residents on Aug. 29 again urged the U.S.
Court of Appeals for the Second Circuit to revive their toxic tort
lawsuit against Kerr-McGee Corp., arguing a $5.15 billion
contamination settlement reached during the bankruptcy of its
former subsidiary didn't bar the type of claims they're bringing.
A federal judge in February ordered the toxic tort plaintiffs to
drop the claims pending in the Luzerne County Court of Common Pleas
against Kerr-McGee over noxious emissions from a creosote wood
treatment plant in Avoca, Pennsylvania.

As reported by the Troubled Company Reporter on Feb. 12, 2016,
citing a article by Juan Carlos Rodriguez at Bankruptcy Law360, the
Second Circuit on Feb. 8, granted a group of former creosote wood
treatment plant workers' bid for an emergency stay of an order
directing them to drop a Pennsylvania state court case against an
Anadarko Petroleum Corp. unit that is related to a $5.2 billion
Tronox pollution cleanup deal.  The plaintiffs had asked the Second
Circuit to stay U.S. District Judge Katherine Forrest's order
directing them to dismiss with prejudice their actions pending in
the Luzerne County Court of Common Pleas.

                         About Tronox Inc.

Tronox Inc., aka New-Co Chemical, Inc., and 14 other affiliates
filed for Chapter 11 protection (Bankr. S.D.N.Y. Case No.
09-10156) on Jan. 13, 2009, before Hon. Allan L. Gropper.  Richard
M. Cieri, Esq., Jonathan S. Henes, Esq., and Colin M. Adams, Esq.,
at Kirkland & Ellis LLP in New York, represented the Debtors.  The
Debtors also tapped Togut, Segal & Segal LLP as conflicts counsel;
Rothschild Inc. as investment bankers; Alvarez & Marsal North
America LLC, as restructuring consultants; and Kurtzman Carson
Consultants served as notice and claims agent.

An official committee of unsecured creditors and an official
committee of equity security holders were appointed in the cases.
The Creditors Committee retained Paul, Weiss, Rifkind, Wharton &
Garrison LLP as counsel.

Until Sept. 30, 2008, Tronox was publicly traded on the New
York Stock Exchange under the symbols TRX and TRX.B.  Since then,
Tronox has traded on the Over the Counter Bulletin Board under the
symbols TROX.A.PK and TROX.B.PK.  As of Dec. 31, 2008, Tronox
had 19,107,367 outstanding shares of class A common stock and
22,889,431 outstanding shares of class B common stock.

On Nov. 17, 2010, the Bankruptcy Court confirmed the Debtors'
First Amended Joint Plan of Reorganization under Chapter 11 of the
Bankruptcy Code, dated Nov. 5, 2010.  Under the Plan, Tronox
reorganized around its existing operating businesses, including
its facilities at Oklahoma City, Oklahoma; Hamilton, Mississippi;
Henderson, Nevada; Botlek, The Netherlands and Kwinana, Australia.


TRU TAJ: S&P Assigns 'B-' Rating on $583MM Sr. Secured Notes
------------------------------------------------------------
S&P Global Ratings assigned its 'B-' issue-level rating and '4'
recovery rating to TRU Taj LLC's $583 million 12% senior secured
notes due 2021.  The '4' recovery rating reflects S&P's expectation
for average recovery (lower half of the 30% to 50% range) in the
event of a payment default.  All other ratings on parent Toys "R"
Us Inc., including the 'B-' corporate credit rating and stable
outlook, remain unchanged.

The rating action follows the issuance of the notes, for which the
$441 million of new TRU Taj notes (and about $110 million of cash)
were exchanged for a portion of Toys "R" Us Inc.'s 10.375% senior
notes due Aug. 15, 2017, and 7.375% senior notes due Oct. 15, 2018.
About $105 million of the 2017 notes and $208 million of the 2018
notes remained outstanding after the initial exchange offer; the
company announced Aug. 26, that it plans to redeem the remainder of
the 10.375% notes with cash from the issuance of an additional $142
million of new exchange notes.  TRU Taj LLC, a wholly owned
subsidiary of Toys "R" Us Inc., is a holding company for a
substantial portion of Toys "R" Us Inc.'s international
subsidiaries.

RATINGS LIST

Toys "R" Us Inc.
Corporate credit rating              B-/Stable/--

Ratings Assigned
TRU Taj LLC
Senior secured
  $583 million 12% notes due 2021     B-
   Recovery rating                    4L



TUSK ENERGY: Hires Locke Lord as Counsel
----------------------------------------
Tusk Energy Services, LLC, Tusk Subsea Services, LLC, Tusk
Construction, LLC, and Rene Cross Construction, Inc., seek
authority from the U.S. Bankruptcy Court for the Western District
of Louisiana to employ Locke Lord LLP as counsel to the Debtors.

Tusk Energy requires Locke Lord to:

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

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

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

   (d) advise the Debtors in connection with any contemplated
       sales of assets or business combinations, negotiate
       asset, stock purchase, merger or joint venture agreements,
       formulate and implement bidding procedures, evaluate
       competing offers, draft appropriate corporate documents
       with respect to the proposed sales, and counsel the
       Debtors in connection with the closing of such sales;

   (e) advise the Debtors in connection with postpetition
       financing and cash collateral arrangements and negotiate
       and draft documents relating thereto, provide advice and
       counsel with respect to prepetition financing
       arrangements, and provide advice to the Debtors in
       connection with the emergence financing and capital
       structure, and negotiate and draft documents relating
       thereto;

   (f) advise the Debtors on matters relating to the evaluation
       of the assumption, rejection or assignment of unexpired
       leases and executory contracts;

   (g) provide advice to the Debtors with respect to legal issues
       arising in or relating to the Debtors' ordinary course of
       business, attend at senior management meetings, meetings
       with the Debtors' financial and turnaround advisors and
       meetings of the board of directors, and advice on
       employee, workers' compensation, employee benefits,
       executive compensation, tax, environmental, banking,
       insurance, securities, corporate, business operation,
       contracts, joint ventures, real property and press/public
       affairs and regulatory matters;

   (h) take necessary action to protect and preserve the Debtors'
       estates, prosecute actions and proceedings on their
       behalf, defend any actions and proceedings commenced
       against the estates, negotiate concerning all litigation
       in which the Debtors may be involved and object to claims
       filed against the Debtors' estates;

   (i) prepare on behalf of the Debtors motions, applications,
       answers, orders, reports and papers necessary to the
       administration of the Debtors' estates;

   (j) negotiate and prepare on the Debtors' behalf plans of
       reorganization or liquidation, disclosure statements and
       all related agreements and/or documents and take any
       necessary action on behalf of the Debtors to obtain
       confirmation of such plan;

   (k) attend meetings with third parties and participate in
       negotiations in relation to the bankruptcy case;

   (l) appear before the bankruptcy Court, other courts, and the
       Office of the United States Trustee;

   (m) meet and coordinate with other counsel and other
       professionals retained on behalf of the Debtors and
       approved by the bankruptcy Court; and

   (n) perform all other necessary legal services and provide
       all other necessary legal advice to the Debtors in
       connection with the chapter 11 cases.

Locke Lord will be paid at these hourly rates:

     Partners                         $450
     Associates and Of Counsel        $325
     Paraprofessionals                $125

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

C. Davin Boldissar, member of Locke Lord 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.

Locke Lord can be reached at:

     C. Davin Boldissar, Esq.
     Bradley C. Knapp, Esq.
     LOCKE LORD LLP
     601 Poydras Street, Suite 2660
     New Orleans, LA 70130-6036
     Tel: (504) 558-5100
     Fax: (504) 558-5200

                      About Tusk Energy

Tusk Energy Services, LLC, Tusk Subsea Services, LLC, Tusk
Construction, LLC, and Rene Cross Construction, Inc., commenced
cases under Chapter 11 of the Bankruptcy Code (Bankr. W.D. La. Case
Nos. 16-51082 to 16-51085) on Aug. 8, 2016, with the goal of
marketing their businesses and assets for sale.

The Debtors have essentially two operating businesses: (i) a
dredging and jetting services company, operating under the name of
Tusk Subsea and operating through assets of Debtor Tusk Subsea
Services, LLC; and (ii) an inland marine construction business,
operating under the name of Rene Cross Construction and operating
through assets of Debtor Rene Cross Construction, Inc. Tusk Energy
estimated assets in the range of $1 million to $10 million and
debts of up to $10 million.

Locke Lord LLP serves as the Debtors' counsel. The cases are
assigned to Judge Robert Summerhays.

No official committee of unsecured creditors has been appointed in
the case.



ULTRA PETROLEUM: Scoggin Management et al. Report Equity Stake
--------------------------------------------------------------
Scoggin Management LP disclosed in a regulatory filing with the
Securities and Exchange Commission that it may be deemed to
beneficially own in the aggregate 4,382,130 shares or roughly 2.9%
of the common stock of Ultra Petroleum Corp.

An affiliate, Scoggin Capital Management II LLC, may be deemed to
beneficially own in the aggregate 2,320,057 shares or roughly 1.5%
of the common stock of Ultra Petroleum Corp.

An affiliate, Scoggin Capital Management II LLC, may be deemed to
beneficially own in the aggregate 2,320,057 shares or roughly 1.5%
of the common stock of Ultra Petroleum Corp.

A. Dev Chodry is the Chief Investment Officer for Distressed Credit
Strategies for Scoggin Management LP.  Craig Effron and Curtis
Schenker are Co-Chief Investment Officers for Event Driven
Strategies for Scoggin Management LP. Scoggin GP LLC is the general
partner of Scoggin Management LP.  Craig Effron and Curtis Schenker
are the managing members of Scoggin GP LLC.

Mr. Chodry may be deemed to own 7,553,196 shares or 4.9%; Mr.
Effron 7,545,196 shares or 4.9% and Mr. Schenker 7,682,336 shares
or 5.0%.  Mr. Schenker's stake includes  82,140 shares held in
accounts as to which he has discretionary authority.

Each of Scoggin International Fund, Ltd., Scoggin Worldwide Fund,
Ltd. and SB Special Situation Master Fund SPC – Portfolio F may
be reached at:

     Scoggin International Fund, Ltd.
     Scoggin Worldwide Fund, Ltd.
     SB Special Situation Master Fund SPC – Portfolio F
     c/o Mourant Ozannes Corporate Services (Cayman) Ltd.
     94 Solaris Avenue
     Camana Bay, P.O. Box 1348
     Grand Cayman, KY1-1108, Cayman Islands

Other entities may be reached at:

     A. Dev Chodry
     Managing Member
     Scoggin Management LP
     660 Madison Avenue
     New York, NY 10065

                     About Ultra Petroleum

Ultra Petroleum Corp. is an independent oil and gas company
engaged
in the development, production, operation, exploration and
acquisition of oil and natural gas properties.

Ultra Petroleum Corp. and its affiliates filed separate Chapter 11
petitions (Bankr. S.D. Tex. Case Nos. 16-32202 to 16-32209) on
April 29, 2016. The Hon. Marvin Isgur presides over the cases.

James H.M. Sprayregen, P.C., David R. Seligman, P.C., Michael B.
Slade, Esq., Christopher T. Greco, Esq., and Gregory F. Pesce,
Esq., at KIRKLAND & ELLIS LLP; and Patricia B. Tomasco, Esq.,
Matthew D. Cavenaugh, Esq., and Jennifer F. Wertz, Esq., at
Jackson
Walker, L.L.P., serve as counsel to the Debtors. Rothschild Inc.
serves as the Debtors' investment banker; Petrie Partners serves
as
their investment banker; and Epiq Bankruptcy Solutions, LLC,
serves
as claims and noticing agent.

Ultra Petroleum Corp. listed total assets of $1.28 billion and
total liabilities of $3.91 billion as of March 31, 2016.

The petitions were signed by Garland R. Shaw, chief financial
officer.

The Company's common stock commenced trading on the OTC Pink
Marketplace under the symbol "UPLMQ" on May 3, 2016.

The Office of the U.S. Trustee has appointed seven creditors of
Ultra Petroleum Corp. to serve on the official committee of
unsecured creditors.


ULURU INC: Liquidity Concern Raises Going Concern Doubt
-------------------------------------------------------
ULURU Inc. filed its quarterly report on Form 10-Q, disclosing a
net loss of $536,243 on $264,333 of total revenues for the three
months ended June 30, 2016, compared with a net loss of $729,379 on
$258,997 of total revenues for the same period last year.

The Company's balance sheet at June 30, 2016, showed $7.44 million
in total assets, $2.58 million in total liabilities, and
stockholders' equity of $4.86 million.

Based on the Company's liquidity as of June 30, 2016, the expected
level of operating expenses, and the projected sales of its
existing products combined with other revenues, ULURU believes that
it will be able to meet its working capital and capital expenditure
requirements through the third quarter of 2016.  However, the
Company cannot be sure that its revenues will grow or that it will
generate significant positive cash flow from operations.  Moreover,
the Company may not be able to raise sufficient additional capital
on acceptable terms, or at all, to continue operations beyond the
third quarter of 2016.  Therefore, the Company unable to assert
that its financial position is sufficient to fund operations beyond
the third quarter of 2016, and, as a result, there is substantial
doubt about the Company's ability to continue as a going concern
beyond the third quarter of 2016.  In order to continue to advance
its business plan and outstanding obligations after the third
quarter of 2016, ULURU will need to raise additional capital.

A copy of the Form 10-Q is available at:

                 https://is.gd/6eRBTL  

ULURU Inc. develops and commercializes wound care and muco-adhesive
film products based on its patented Nanoflex(R) and OraDisc(TM)
technologies for patients, health care professionals, and health
care payers.  The Company maintain its headquarters in Addison,
Texas.


URANIUM ONE: S&P Affirms 'B+' CCR, Outlook Stable
-------------------------------------------------
S&P Global Ratings said it affirmed its 'B+' long-term corporate
credit rating on Toronto-based uranium producer Uranium One Inc.
The outlook is stable.

S&P Global Ratings also affirmed its 'B+' issue-level rating on the
company's senior secured notes and raised its issue-level rating on
the company's unsecured ruble bonds to 'B+' from 'B'. The
issue-level upgrade follows the improvement in estimated recovery
prospects following recent debt repayments.

"We now base the issue-level ratings on a notching approach as we
no longer assign recovery ratings in Kazakhstan, a Group C
jurisdiction according to our jurisdiction ranking assessment,
where Uranium One's producing assets are located.  As such, we are
withdrawing our '3' recovery rating on the senior secured notes and
'5' recovery rating on the unsecured bonds," Mr. Bilous added.

The affirmation reflects S&P's continuing view of Uranium One's
business risk profile as weak and financial risk profile as
aggressive.

S&P views Uranium One's financial risk profile as aggressive, which
incorporates S&P's expectation of the company's core credit
measures remaining stable through 2017.  The assessment also takes
into account the high sensitivity of the company's credit measures
to uranium market and foreign exchange volatility.

S&P's assessment of Uranium One's business risk profile as weak
primarily reflects the company's limited operating diversity, high
country risk relative to similarly rated mining companies, and high
volatility of profitability mainly related to its exposure to
uranium price volatility and foreign exchange.  Uranium One has
high production and geographic concentration, with the vast
majority of its uranium mining operations based in Kazakhstan via
joint ventures.  In addition, most of Uranium One's sales are based
on spot uranium prices, which have historically been volatile.

The stable outlook primarily reflects S&P Global Ratings'
expectation of Uranium One's core credit ratios remaining
relatively stable through 2017.  S&P estimates the company will
generate a weighted-average, adjusted FFO-to-debt ratio of close to
30% and a weighted-average, adjusted debt-to-EBITDA ratio of about
3x through 2018.  The outlook also incorporates the potential for
volatility in the company's core credit measures, largely related
to uranium prices and foreign exchange.

S&P expects that the ratings could be pressured if the company's
adjusted FFO-to-debt falls below 20% and adjusted debt-to-EBITDA
ratio exceeds 4x for a sustained period.  In S&P's view, this could
result from significantly tighter uranium margins that lead to a
material reduction in cash flow generation, or an increase in debt
levels.  In addition, a downgrade could also result from a change
in S&P's r view of the likelihood of extraordinary government from
Russia (to low), or if S&P Global Ratings lowers its local currency
sovereign rating on Russia to 'BB' or lower.

S&P could consider a positive rating action following improvement
in Uranium One's stand-alone credit profile and core credit
measures, including an adjusted FFO-to-debt sustained above 30%. In
addition, an upgrade could result if, in S&P's view, a fundamental
improvement in the company's role and link to the Russian
Federation leads to a greater likelihood of extraordinary
government support.


USG CORP: S&P Puts 'BB' Corp. Credit Rating on CreditWatch Pos.
---------------------------------------------------------------
S&P Global Ratings said it placed its ratings, including the 'BB'
corporate credit rating, on Chicago-based USG Corp. on CreditWatch
with positive implications.

The CreditWatch listing follows USG's announcement that it has
entered into a definitive agreement to sell its building product
distribution subsidiary, L&W Supply Corp., to building materials
distributor ABC Supply Inc. for total cash consideration of
$670 million.  The company expects to complete the transaction
before the end of 2016.  After divestiture, USG will operate
through three main business segments: Gypsum, Ceilings, and its
gypsum wallboard joint venture USG Boral Building Products.

S&P expects USG will use proceeds from the sale to retire debt,
including its 2020 senior notes and 2021 senior notes, which they
plan to call in December 2016.  In addition, the company plans to
organically retire the remaining $308 million of senior notes due
in November 2016, mainly using cash on the balance sheet.

The company's revenues for the rolling twelve months through
June 30, 2016, totaled approximately $3.9 billion.  L&W Supply has
been USG's lowest-producing EBITDA segment and has generated annual
EBITDA of approximately $50 million.  With USG planning to reduce
debt by $900 million by the end of 2016, debt leverage is likely to
improve from 3x as of the second quarter of 2016 to about 2x by the
end of fiscal 2016.

"We will discuss with USG management its strategic and financial
policy plans, including potential returns to shareholders, after
the divestiture of L&W Supply Corp.," said S&P Global Ratings
credit analyst Kimberly Garen.  "We will resolve the CreditWatch
listing upon the closing of the sale of L&W, which is subject to
customary closing conditions, including regulatory approvals.
Assuming the transaction closes as planned and the expected debt
reduction takes place, we may either raise or affirm its ratings on
USG."



UTSA APARTMENTS 8: Hires Terry Law as Special Counsel
-----------------------------------------------------
UTSA Apartments 8, LLC, et al., seek authority from the U.S.
Bankruptcy Court for the Western District Texas to employ Eric
Terry Law PLLC as special counsel to the Debtor.

UTSA Apartments 8requires Terry to:

   -- act as special counsel in the main bankruptcy cases and in
      adversary nos. 15-5047 and 15-5093.

   -- assist with issues and hearings related to the Disclosure
      Statement and Plan submitted by Woodlark UTSA Apartments,
      LLC and UTSA Apartments, LLC;

Terry will be paid $350 an hour.

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

Eric Terry, member of Eric Terry Law PLLC, assured the Court that
the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code and does not represent any
interest adverse to the Debtor and its estate.

Terry can be reached at:

     Eric Terry, Esq.
     Eric Terry Law PLLC
     4040 Broadway, Suite 350
     San Antonio, TX 78209
     Tel: (210) 862-2060.

                      About UTSA Apartments 8, LLC

UTSA Apartments 8, LLC, et al., are tenants in common ("TIC's"),
each holding fractional interests in The Reserve at UTSA. The
Reserve is a student apartment complex serving the University of
Texas at San Antonio and located in Northwestern quadrant of San
Antonio.

UTSA Apartments 8, LLC, et al., sought Chapter 11 protection
(Bankr. W.D. Tex. Lead Case No. 15-52941) on Dec. 2, 2015,
disclosing under $1 million in both assets and liabilities.

The TIC's that have filed for Chapter 11 protection have an ongoing
dispute with Woodlark UTSA Apartments, LLC which is the largest of
the TIC's and holds approximately 21% of the ownership of the
Reserve. Woodlark was the original promotor and is currently
responsible for the management of the apartment complex.

The Debtors are represented by Allen M. DeBard, Esq., at Langley &
Banack, Inc.

No official committee of unsecured creditors has been appointed in
the case.


VF HOLDING: S&P Assigns 'B-' CCR, Outlook Stable
------------------------------------------------
S&P Global Ratings said that it has assigned its 'B-' corporate
credit rating to Bothell, Wash.-based VF Holding Corp.  The outlook
is stable.

At the same time, S&P affirmed its 'B-' issue-level rating on the
company's first-lien credit facilities, consisting of a $100
million revolving credit facility and $1.1 billion term loan. The
recovery ratings remain '3', indicating S&P's expectation for
meaningful (50%-70%; upper half of the range) recovery in the event
of payment default.  S&P also affirmed its 'CCC' issue-level rating
on the company's $500 million second-lien term loan.  The recovery
rating remains '6', indicating S&P's expectation for negligible
(0%-10%) recovery in the event of a payment default.

S&P also affirmed its 'B-' corporate credit rating on Vertafore
Inc., which S&P expects to withdraw.

"The rating action reflects our expectation that VF Holding Corp.'s
leverage will rise to 9.4x from 5.0x as a result of this
transaction, and that the company will continue to operate with
leverage above 8x, despite good organic revenue growth and a
credible plan to reduce costs and materially improve profitability
over the next 12 months," said S&P Global credit analyst John
Moore.  "Bain and Vista's industry knowledge from owning direct
competitor Applied Systems also gives us confidence in their
ability to execute on planned cost reductions."

The stable outlook reflects S&P's view that VF Holding's good
market position and recurring revenue base and steady price
increases will result in consistent operating performance over the
next 12 months.  However, S&P expects the company's new capital
structure to result in leverage above 8x over the next 12 months.

S&P could raise the rating over the next year if the company
successfully executes on its cost reduction plans while maintaining
its leading market share position, and adopts a financial policy
that results in leverage below 8x on a sustained basis.

Although unlikely, S&P could lower the rating if the company
pursues debt-financed acquisitions, or if cost cuts disrupt the
business, resulting in negative free cash flow or constrained
liquidity.



VIDA CAFE: Hires Frances M. Caruso as Bookkeeper
------------------------------------------------
Vida Cafe, Inc., d/b/a Mamajuana Cafe, seeks authority from the
U.S. Bankruptcy Court for the Southern District of New York to
employ Frances M. Caruso as bookkeeper to the Debtor.

Vida Cafe requires Caruso to:

   a. prepare and review monthly operating statements and other
      financial reports or statements required by the bankruptcy
      Court, the Office of the U.S. Trustee, the Bankruptcy Code,
      the Bankruptcy Rule or otherwise deemed to be necessary or
      beneficial to the Debtor or its estate; and

   b. render such other assistance or services as may be
      necessary in the Chapter 11 case.

Mr. Caruso will be paid at the hourly rate of $50.

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

Mr. Caruso, assured the Court that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code and does not represent any interest adverse to the Debtor and
its estate.

                       About Vida Cafe

Vida Cafe Inc. filed a Chapter 11 bankruptcy petition (Bankr.
S.D.N.Y. Case No. 16-11978) on July 11, 2016, disclosing under $1
million in both assets and liabilities. The Debtor is represented
by Douglas J. Pick, Esq..

No official committee of unsecured creditors has been appointed in
the case.


ZYLSTRA DAIRY: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Zylstra Dairy Ltd.
        11753 Road 21
        Antwerp, OH 45813

Case No.: 16-32720

Chapter 11 Petition Date: August 29, 2016

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

Judge: Hon. Mary Ann Whipple

Debtor's Counsel: Steven L. Diller, Esq.
                  DILLER AND RICE, LLC
                  124 E Main Street
                  Van Wert, OH 45891
                  Tel: (419) 238-5025
                  E-mail: steven@drlawllc.com

                    - and -

                  Eric R. Neuman, Esq.
                  DILLER AND RICE, LLC
                  1105-1107 Adams Street
                  Toledo, OH 43604
                  Tel: 419-724-9047
                  E-mail: eric@drlawllc.com

Total Assets: $4.64 million

Total Liabilities: $5.54 million

The petition was signed by Ijme L. Zylstra, member.

A copy of the Debtor's list of 20 largest unsecured creditors is
available for free at http://bankrupt.com/misc/ohnb16-32720.pdf


[*] Day Pitney Partner James Tancredi Named U.S. Bankruptcy Judge
-----------------------------------------------------------------
Day Pitney LLP announced on Aug. 29 that partner James J. Tancredi
will assume his duties as a United States Bankruptcy Judge for the
District of Connecticut at Hartford on Sept. 1, 2016.  He fills a
judicial vacancy created by retired Connecticut Bankruptcy Judge
Alan H.W. Shiff who served for nearly 40 years.

"As one of the top bankruptcy and restructuring lawyers in
Connecticut, Jim will be an outstanding judge and the people and
lawyers of the State will be the beneficiaries.  We are sorry to
lose him from our ranks, but are proud that Jim's impressive career
included time at Day Pitney," said Day Pitney Managing Partner
Stanley A. Twardy, Jr.

For over 30 years, Tancredi has represented financial institutions,
creditors' committees, bondholders, investors, acquirers, trustees,
receivers and debtors in asset recovery actions, reorganizations,
bankruptcies and insolvency proceedings. Throughout his career he
has advised clients on complex, precedential-setting and
highly-publicized national and regional bankruptcies and
restructurings. Tancredi is also one of the co-founders of Day
Pitney's Business Bankruptcy and Restructuring practice group. His
passion for practicing bankruptcy and restructuring law developed
following his time as an associate for the firm, where he had
worked on state and municipal general obligation/ special revenue
bond issues and related litigations.

"This achievement is a reflection of the incredible work he has
done throughout his career, and we wish him all the best in this
exciting new chapter," said Joshua Cohen, chair of Day Pitney's
Bankruptcy and Restructuring practice.

During his career, he enthusiastically served as President of the
Hartford County Bar Association (HCBA) and the Connecticut
Turnaround Management Association (CTTMA).

Tancredi is a magna cum laude graduate of both the College of the
Holy Cross and the University of Connecticut School of Law, where
he served on the Moot Court Board of Directors and as the Managing
Editor of the University of Connecticut Law Review.


                            *********

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 ***