TCR_Public/161020.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Thursday, October 20, 2016, Vol. 20, No. 293

                            Headlines

1733 27TH ST: Has Court Approval to Use Presidential Bank Cash
22ND CENTURY: Announces Above-Market Offering for $11.4 Million
261 EAST 78 LOFTS: Secured Creditor Tries To Block Disclosures OK
40 CHESAPEAKE: Court Allows Use of Presidential Bank Cash
4001 4TH ST: Can Use Presidential Bank Cash Collateral

AC NW RETAIL: Hires Robinson Brog as Counsel
ACCURIDE CORPORATION: Moody's Assigns B3 CFR, Outlook Stable
ALTICE US: S&P Assigns 'BB-' Rating on Proposed $810MM Loan B
AMERICAN CARESOURCE: Hikes Wells Fargo Line of Credit by $1-Mil.
APS-STELLAR VIEW: U.S. Trustee Unable to Appoint Committee

ASSOCIATED THORACIC: Wants to Use Cash Collateral
ATLANTIC AVIATION: S&P Affirms Then Withdraws 'BB-' CCR
AUTO TRANSPORT: Case Summary & 2 Unsecured Creditors
BAERG REAL PROPERTY: Can Use Fannie Mae Cash Until Nov. 15
BAVARIA YACHTS: Case Summary & 20 Largest Unsecured Creditors

BELIEVERS BIBLE: Can Use Aztec Financial Cash on Final Basis
BILL MICHAEL: Wins Confirmation of Sale-Based Plan
BINDER MACHINERY: Hires Phoenix as Fin'l Advisor, Investment Banker
BORGER ENERGY: Moody's Lowers Rating on Sr. Sec. Bonds to B1
BRENDA VELEZ: Toyota's Bid to Reopen Ch. 11 Case Denied

CALUMET SPECIALTY: S&P Affirms 'B-' CCR & Revises Outlook to Neg.
CF INDUSTRIES: Fitch Cuts Issuer Default Rating to 'BB+'
CHANNEL TECHNOLOGIES: Wants $5-Mil. Blue Wolf Capital DIP Loan
CHICORA LIFE: Plan Confirmation Hearing Set for Nov. 9
CIRCLE Z: Wants Court Authorization to Use Cash Collateral

CLARK-CUTLER-MCDERMOTT: Court Allows Continued Cash Collateral Use
CNH INDUSTRIAL: S&P Assigns 'BB' Rating on Proposed Sr. Notes
CRYOPORT INC: Further Extends Tender Offer Until Oct. 28
DPTOPCO LLC: U.S. Trustee Unable to Appoint Committee
EKD REALTY: Unsecureds To Get Fully Paid in Five Installments

ENERGY STORAGE: Involuntary Chapter 11 Case Summary
ERICKSON INCORPORATED: Further Amends Wells Fargo Credit Agreement
ESPRESSO DREAM: Taps DelBello Donnellan as Attorneys
EWT HOLDINGS: S&P Affirms 'B' CCR, Outlook Remains Stable
EXTRACTION OIL: S&P Raises Corporate Credit Rating to 'B' on IPO

FIRST DATA: Incurs US$4.27 Billion & EUR 154 Million Term Loans
FLOWORKS INTERNATIONAL: S&P Affirms 'CCC+' CCR, Outlook Negative
FOUR DIA: Has Approval to Use CapitalSpring Cash Collateral
FTE NETWORKS: Files Copy of Investor Presentation with SEC
FUNCTION(X) INC: Presented at SeeThruEquity Conference

GERALD DEVER: Nov. 8 Hearing to Approve Disclosure Statement
GLOBAL HOUGHTON: S&P Affirms 'B' CCR, Outlook Negative
GLOYD GREEN: Sale of Midway Cabin to West for $414K Approved
GM OILFIELD: Can Use Cash Collateral on Interim Basis
GOD'S UNIVERSAL: U.S. Trustee Unable to Appoint Committee

GREAT BASIN: Citadel Stake Down to 0.1% as of Oct. 6
GREAT BASIN: Enters Into Amended Leak-Out Agreements
GRIMMWAY ACADEMY: S&P Assigns 'BB+' Rating on 2016 A&B School Bonds
HALCON RESOURCES: Agrees to Pay $430K to Lead Plaintiffs' Counsel
HARSCO CORP: S&P Assigns 'BB' Rating on Proposed $950MM Facilities

HOUSTON PROPERTY: Case Summary & 2 Unsecured Creditors
IDERA PHARMACEUTICALS: Pillar Pharma Has 19.9% Stake as of Oct. 13
ILYA GOLUB: Second Amended Disclosure Statement Filed
IMMUCOR INC: Incurs $10.1 Million Net Loss in Aug. 31 Quarter
IMPORTANT PROPERTIES: $6.5-Mil. Property Sale Approved

IMPORTANT PROPERTIES: Plan Confirmation Hearing on Nov. 7
INFOBLOX INC: S&P Assigns 'B-' CCR; Outlook Stable
INTER123 CORP: U.S. Trustee Unable to Appoint Committee
IRENE STACY COMMUNITY: Hires Wally Yaracs as Auctioneer
ISAAC'S AUTOMOTIVE: Allowed to Use Hope Enterprise Cash Collateral

JEANETTE GUTIERREZ: $57K Sale of San Antonio Property Approved
JOAQUIN SILER: Stainsbys Buying Oil Fields Property for $90K
JOBO'S INC: Nov. 29 Plan Confirmation Hearing
JUDSON COLLEGE: S&P Affirms 'BB+' Rating on 2010 Revenue Bonds
KEMPER CORPORATION: Fitch Affirms 'BB' Subordinated Notes Rating

KENNETH ARTHURS: Plan Lacks Financial Info, PA DOR Says
KLD ENERGY: Liquidation of De Minimis Assets Approved
KUNKEL REAL ESTATE: Case Summary & 20 Largest Unsecured Creditors
LANI DIZON: Plan Earmarks $4,800 for $213,000 in Unsecured Claims
LEE HO CHEN: SNL's Bid to Reopen Ch. 11 Case Denied

LIME ENERGY: Changes Annual Meeting Record Date Indefinitely
LINDEN & ASSOCIATES: U.S. Trustee Unable to Appoint Committee
LOWELL & SONS: Seeks Authorization to Use Cash Collateral
M&R CHARLESTON: Disclosure Statement Approval Hearing on Nov. 7
MCGRAW-HILL GLOBAL: Fitch's 'B+' IDR Still on Rating Watch Positive

MERCHANTS BANKCARD: Hearing on Cash Use Continued to Oct. 24
MILLENNIUM HEALTHCARE: Acquires Electrocardiography Technology
MONAKER GROUP: Amends Q2 2015 Quarterly Report
MVP TRANS: U.S. Trustee Unable to Appoint Committee
NAS HOLDINGS: Allowed to Use Cash Collateral Until Oct. 5

NAVISTAR INTERNATIONAL: Appoints Three New Directors
NEENAH PAPER: S&P Affirms 'BB' Rating & Revises Outlook to Pos.
NEXXLINX CORP: Unsecured Creditors to Recoup 23.3% Under Exit Plan
NGL ENERGY: Fitch Assigns 'B-' Senior Unsecured Notes Rating
NGL ENERGY: S&P Assigns 'BB-' Rating on Proposed $400MM Sr. Notes

NUVERRA ENVIROMENTAL: To Utilize Interest Payment Grace Period
PAR TWO: Wants to Use Synovus Bank Cash Collateral
PARNASSUS PREPARATORY: S&P Assigns 'BB' Rating on 2016 Rev. Bonds
PAULA MCLOUD: Chapter 11 Plan, Disclosures Due Dec. 14
PCI MANUFACTURING: Case Summary & 20 Largest Unsecured Creditors

PETROQUEST ENERGY: Signs $50-Mil. Loan Agrement with Wells Fargo
PINNACLE COMPANIES: Case Summary & 20 Largest Unsecured Creditors
PLATINUM PARTNERS: Chapter 15 Case Summary
PONCE TACO: Hires Catherine Rodriguez as Financial Advisor
PREFERRED CONCRETE: Can Use IRS Cash Collateral Through Nov. 30

QUANTUM MATERIALS: W. C. Carson Reports 8.35% Stake as of Oct. 14
RED LOBSTER: S&P Affirms 'B-' CCR; Outlook Stable
RICHARD HELFAND: Hearing on Disclosure Statement Set For Nov. 23
ROCKDALE MANOR: Disclosures OK'd; Plan Hearing on Dec. 22
SAM BASS: U.S. Trustee Unable to Appoint Committee

SANTANDER HOLDINGS: Moody's Cuts Rating on Preferred Stock to Ba3
SAUK PRAIRIE: Moody's Lowers Rating on Revenue Bonds to B1
SECURED ASSETS BELDEVERE: Selling 2 Condo Units in Reno for $214K
SILVER LAKE: Wants Approval to Use PCI Silver Lake Cash Collateral
SLEEP DOCTOR: Case Summary & 20 Largest Unsecured Creditors

SMART & FINAL: S&P Affirms 'B+' CCR & Revises Outlook to Negative
SNAP INTERACTIVE: Chairman Reports 14.1% Stake as of Oct. 7
SNAP INTERACTIVE: J. Crew Holds 35.1% Stake as of Oct. 7
SNAP INTERACTIVE: Jen-Jen Yeh Reports 5.5% Stake as of Oct. 7
SNAP INTERACTIVE: Lance Laifer Holds 6% Stake as of Oct. 7

SNEED SHIPBUILDING: Premium Finance Agreement With IPFS Credit OK
SUNEDISON INC: Committee Retains Kobre & Kim as Conflicts Counsel
SUNEDISON INC: D.E. Shaw Looking Into Deal for TerraForm Stake
SUNRISE COOPERATIVE: Taps DLA Piper as Bankruptcy Counsel
SUPERVALU INC: Save-A-Lot Sale Neutral to Fitch's 'B' IDR

SYMPHONIC HOLDINGS: Sale of Smithtown Property for $630K Okayed
TECHNOLOGY SPECIALISTS: Unsecureds To Recoup 10% Under Plan
TERVITA CORPORATION: Chapter 15 Case Summary
TERVITA CORPORATION: Seeks U.S. Recognition of Canadian Proceeding
TRANSDIGM INC: Fitch Assigns 'BB' Sr Secured Term Loan Rating

TREND COMPANIES: Court Allows Cash Collateral Use on Interim Basis
TUSK ENERGY: Nov. 1 Disclosure Statement Hearing Set
VARSITY BRANDS: Moody's Affirms B2 CFR, Outlook Stable
VARSITY BRANDS: S&P Affirms 'B' CCR, Outlook Stable
WARNER MUSIC: Seeking OK to Extend Credit Suisse Facility Maturity

WASHINGTON PROPERTIES: Hires HannaCRE as Marketing Consultant
WIND ENTERTAINMENT: Plan Confirmation Hearing Set for Nov. 17
YAPPN CORP: Working Capital Deficit Raises Going Concern Doubt
[*] B3-Neg. and Lower Corporate Ratings Dips Again, Moody's Says
[^] Recent Small-Dollar & Individual Chapter 11 Filings


                            *********

1733 27TH ST: Has Court Approval to Use Presidential Bank Cash
--------------------------------------------------------------
Judge S. Martin Teel, Jr., of the U.S. Bankruptcy Court for the
District of Columbia authorized 1733 27th St. SE, LLC to use
Presidential Bank's cash collateral.

The Debtor was directed to make monthly adequate protection
payments in the amount of $3,728,44, beginning with the payment due
for October, 2016.

Presidential Bank was granted with administrative expense claims
against the Debtor, having priority in right of payment over any
and all other obligations, liabilities and indebtedness of the
Debtor, and over any and all administrative expenses, subject to a
carve out for certain professional fees and administrative
expenses.

Judge Teel required the Debtor to maintain the collateral in good
condition as in the usual course of business and to take all steps
necessary to prevent waste of any kind.

A full-text copy of the Order, dated Oct. 14, 2016, is available at

http://bankrupt.com/misc/173327thSt2016_1600403_34.pdf

Presidential Bank is represented by:

          Robert E. Greenberg, Esq.
          Thomas F. Murphy, Esq.
          Lindsay A. Thompson, Esq.
          FRIEDLANDER MISLER, PLLC
          5335 Wisconsin Avenue, NW, Suite 600
          Washington, D.C. 20015

                About 1733 27TH ST. SE

1733 27th St. SE, LLC filed a chapter 11 petition (Bankr. D.D.C.
Case No. 16-00403) on Aug. 16, 2016.  The petition was signed by
Kevin Green, managing member.  The Debtor is represented by William
C. Johnson, Jr., Esq., at the Law Office of William Johnson.  The
Debtor estimated assets and liabilities at $500,001 to $1 million
at the time of the filing.


22ND CENTURY: Announces Above-Market Offering for $11.4 Million
---------------------------------------------------------------
22nd Century Group, Inc. entered into an agreement, dated Oct. 14,
2016, with one existing institutional investor and one new
institutional investor to receive approximately $11.4 million in
gross proceeds in a registered direct offering through the sale of
common stock priced at $1.3425 per share, which is $0.0625 above
the closing price of the Company's common stock on the NYSE MKT on
Oct. 13, 2016.  The transaction includes a total of 8,500,000
shares of the Company's common stock and 66-month warrants to
purchase 4,250,000 shares of common stock at an exercise price of
$1.45 per share (exercisable after six months).

"In an extremely volatile market, we are pleased to announce this
above-market financing that will greatly strengthen 22nd Century's
balance sheet and will ensure that the Company has more than 18
months of operating cash on hand," explained Henry Sicignano, III,
president and CEO of 22nd Century Group.  "22nd Century looks
forward to several important R&D catalysts in the coming months;
this capital infusion will significantly improve our negotiating
position in discussions with potential strategic partners."

Chardan Capital Markets, LLC, acted as the sole placement agent for
this transaction.

The offering is expected to close on or about Oct. 19, 2016,
subject to customary closing conditions, including approval of a
NYSE MKT listing application.  The net proceeds of the financing
will be used for general corporate purposes, including working
capital.

                       About 22nd Century

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

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

As of June 30, 2016, 22nd Century had $17.7 million in total
assets, $3.72 million in total liabilities, and $13.7 million in
total shareholders' equity.


261 EAST 78 LOFTS: Secured Creditor Tries To Block Disclosures OK
-----------------------------------------------------------------
Joseph Zelik filed with the U.S. Bankruptcy Court for the Southern
District of New York an objection to 261 East 78 Lofts LLC's
disclosure statement referring to the Debtor's plan of
reorganization, claiming that it is misleading and appears to not
contain material information that should be provided to all
creditors.

Mr. Zelik is a secured creditor of the Debtor holding a mortgage in
excess of $1.75 million on the subject real property.  Mr. Zelik
acknowledges that the Debtor disputes the mortgage.

As reported by the Troubled Company Reporter on Oct. 7, 2016, the
Debtor filed a Plan that proposes to pay off claims from the
proceeds of the sale of its six-story medical office building in
New York.  The Plan is predicated on a sale of the Debtor's
property, together with an assignment of the existing commercial
leases.

Mr. Zelik says that in the Debtor's Disclosure Statement, at pages
1 and 2 and in its Plan, the Debtor sets out the basic lines of its
reorganization, which plainly appears to be a sale of the subject
property for approximately $20 million with the proceeds of the
sale to be available to pay creditors.  To that end, the Debtor
retained, with court approval, Eastern Consolidated as its
exclusive agent to market and sell the subject property.

Mr. Zelik claims that while the Debtor speaks in terms of an
aggregate sale of the property for the sum of about $20 million, it
fails to disclose that the "owner will retain any and all unused
development rights."  Mr. Zelik believes that these "Unused
Development Rights" are the air rights above the property.  Mr.
Zelik believes these air rights may have a value of several million
dollars.  It is not clear if Eastern Consolidated is also marketing
and selling those air rights.  It does not appear those air rights
are subject to any proposed bankruptcy sale.

In its Disclosure Statement, the Debtor needs to clarify what these
"Unused Development Rights" are, Mr. Zelik states.  If they are
indeed the air rights, the Debtor must indicate what it intends to
do with those air rights.  If these Unused Development Rights are,
in fact, part of the sale the Debtor should provide a value for
these "Unused Development Rights" as its value may have a
significant impact on the Debtor's ability to pay its creditors
under the Plan.  If the Debtor is indeed seeking to retain those
"Unused Development Rights," it must explicitly disclose that fact
so that creditors can make an informed decision as to whether they
wish to support a Plan that provides for the sale of only a part of
the Debtor's assets, with a significant retention by the Debtor.

Mr. Zelik does not object, at this time, to a sale.  A
clarification of what is being sold, and what is not being sold,
must be made in light of the Debtor's apparent retention of these
unused development rights, a factor not set out in the Disclosure
Statement or Plan.  In the event the Debtor is retaining
substantial and valuable rights, that must not only be disclosed,
but a retention must be subject to the jurisdiction of the Court
and a further liquidation if the proceeds of the anticipated sale
are insufficient to pay all creditors in full.  Mr. Zelik will
oppose any attempt by this Debtor to retain any assets or funds if
creditors are not paid in full.

Mr. Zelik is represented by:

     David L. Tillem, Esq.
     WlLSON, ELSER, MOSKOWITZ, EDELMAN & DICKER LLP
     1133 Westchester Avenue
     White Plains, NY 10604
     Tel: (914) 872-7104
     Fax: (914) 323-7001
     E-mail: david.tillem@wilsonelser.com

                     About 261 East 78 Lofts

261 East 78 Lofts LLC owns a six-story medical office building at
261 East 78th Street, New York.

261 East 78 Lofts LLC sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D.N.Y. Case No. 16-11644) on June 3,
2016.  The petition was signed by Lee Moncho, manager.  

The case is assigned to Judge Sean H. Lane.

At the time of the filing, the Debtor disclosed $20.05 million in
assets and $13.96 million in liabilities.

The Debtor tapped Goldberg Weprin Finkel Goldstein LLP as
bankruptcy counsel.  The Debtor also engaged Eastern Consolidated
as broker in connection with the sale of the Debtor's property.


40 CHESAPEAKE: Court Allows Use of Presidential Bank Cash
---------------------------------------------------------
Judge S. Martin Teel, Jr., of the U.S. Bankruptcy Court for the
District of Columbia authorized 40 Chesapeake St. SE, LLC, to use
Presidential Bank, FSB's cash collateral.

The Debtor was directed to make monthly adequate protection
payments to Presidential Bank in the amount of $7,175, beginning
with the payment due for October, 2016.

Presidential Bank was granted administrative expense claims which
have priority in right of payment over any and all other
obligations, liabilities and indebtedness of the Debtor and over
any and all administrative expenses.  Presidential Bank was also
granted replacement liens on all the Debtor's post-petition assets,
which are first and senior in priority over all other interests and
liens of every kind, nature and description.

Judge Teel ordered the Debtor to maintain the collateral in good
condition as in the usual course of business and ensure that all
insurance, real estate taxes, maintenance expenses and utilities
related to the collateral are paid in full when due.

A full-text copy of the Order, dated Oct. 14, 2016, is available at

http://bankrupt.com/misc/40ChesapeakeSt2016_1600405_32.pdf

Presidential Bank, FSB, is represented by:

          Robert E. Greenberg, Esq.
          Thomas F. Murphy, Esq.
          Lindsay A. Thompson, Esq.
          FRIEDLANDER MISLER, PLLC
          5335 Wisconsin Avenue, NW
          Suite 600
          Washington, D.C. 20015

             About 40 Chesapeake St. SE

40 Chesapeake St. SE, LLC, filed a chapter 11 petition (Bankr.
D.D.C. Case No. 16-00405) on August 11, 2016.  The petition was
signed by Kevin Green, president.  The Debtor is represented by
William C. Johnson, Jr., Esq., at the Law Offices of William C.
Johnson, Jr.  The case is assigned to Judge Martin S. Teel, Jr.
The Debtor disclosed total assets of $1.27 million and total
liabilities of $943,649.


4001 4TH ST: Can Use Presidential Bank Cash Collateral
------------------------------------------------------
Judge S. Martin Teel, Jr., of the U.S. Bankruptcy Court for the
District of Columbia authorized 4001 4th St., SE, LLC to use
Presidential Bank, FSB's cash collateral.

The Debtor was directed to make monthly adequate protection
payments to Presidential Bank in the amount of $3,409, beginning
with the payment due for October, 2016.

Presidential Bank was granted administrative expense claims against
the Debtor which have priority in right of payment over any and all
other obligations, liabilities and indebtedness of the Debtor, and
over any and all administrative expenses, subject to a carve out
for certain professional fees and administrative expenses.

Presidential Bank was likewise granted replacement liens on all of
the Debtor's post-petition assets, that are first and senior in
priority to all other interests and liens of every kind.

Judge Teel ordered the Debtor to maintain the collateral in good
condition as in the usual course of business and to take all steps
necessary to prevent waste of any kind.  He directed the Debtor to
ensure that all insurance, real estate taxes, maintenance expenses
and utilities related to the collateral are paid in full when due.

A full-text copy of the Order, dated Oct. 14, 2016, is available at

http://bankrupt.com/misc/40014thSt2016_1600404_34.pdf

Presidential Bank is represented by:

          Robert E. Greenberg, Esq.
          Thomas F. Murphy, Esq.
          Lindsay A. Thompson, Esq.
          FRIEDLANDER MISLER, PLLC
          5335 Wisconsin Avenue, NW, Suite 600
          Washington, D.C. 20015

                About 4001 4th St., SE

4001 4th St. SE, LLC filed a chapter 11 petition (Bankr. D.D.C.
Case No. 16-00406) on Aug. 11, 2016.  The Debtor is represented by
William C. Johnson, Jr., Esq., at the Law Office of William C.
Johnson.  The Debtor estimated assets and liabilities at less than
$1 million.


AC NW RETAIL: Hires Robinson Brog as Counsel
--------------------------------------------
AC NW Retail Investment LLC and Armstrong New West Retail LLC seek
authorization from the U.S. Bankruptcy Court for the Southern
District of New York to employ Robinson Brog Leinwand Greene
Genovese & Gluck P.C. as counsel, effective as of August 9, 2016.

The Debtors require Robinson Brog to:

     (a) provide advice to the Debtors with respect to their powers
and duties under the Bankruptcy Code in the continued operation of
their businesses and the management of their properties;

     (b) negotiate with the creditors of the Debtors, preparing a
plan of reorganization and taking the necessary legal steps to
consummate a plan, including, if necessary, negotiations with
respect to financing a plan;

     (c) appear before the various taxing authorities to work out a
plan to pay taxes owing in installments;

     (d) prepare on the Debtors' behalf necessary applications,
motions, answers, replies, discovery requests, forms of orders,
reports and other pleadings and legal documents;

     (e) appear before the Court to protect the interests of the
Debtors and their estates, and representing the Debtors in all
matters pending before the Court;

     (f) perform all other legal services for the Debtors that may
be necessary herein; and,

     (g) assist the Debtors in connection with all aspects of the
Chapter 11 cases.

Robinson Brog will be paid at these hourly rates:

   Associates         $250.00 - $465.00
   Paralegals         $175.00 - $300.00
   Shareholders       $400.00 - $665.00

On August 10, 2016, Robinson Brog received a third party
post-petition payment in the amount of $13,434 from AC Retail
Equity Fund I LLC.  The payment represents a $5,000 retainer and
$1,717 chapter 11 filing fee for each of the Debtors.  This
retainer is not an evergreen retainer and is refundable if not
earned and if the firm's fees are not approved by the Court. There
is no prepetition balance due to Robinson Brog from either of the
Debtors. Robinson Brog does not have a fee splitting arrangement
with any party.

A. Mitchell Greene, Esq., shareholder of Robinson Brog, 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.

Robinson Brog can be reached at:

         A. Mitchell Greene, Esq.
         ROBINSON BROG LEINWAND GREENE GENOVESE & GLUCK P.C.
         875 Third Avenue
         New York, NY 10022
         Tel: 212-603-6300
         Email: amg@robinsonbrog.com

            About AC NW Retail Investment LLC

AC NW Retail Investment LLC filed a Chapter 11 petition (Bankr.
S.D. N.Y. Case No.: 16-23085) on August 9, 2016, and is represented
by Arnold Mitchell Greene, Esq., in New York, New York.

At the time of filing, the Debtor had $10 million to $50 million in
estimated assets and $1 million to $10 million in estimated debts.

The petition was signed by Benjamin Ringel, sole equity member.

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


ACCURIDE CORPORATION: Moody's Assigns B3 CFR, Outlook Stable
------------------------------------------------------------
Moody's Investors Service assigned a B3 Corporate Family Rating and
B3-PD Probability of Default Rating to Accuride Corporation (New).
In addition, Moody's assigned a B3 rating to the company's proposed
$235 million first lien senior secured term loan.  The proceeds
from the term loan along with new equity will be used to complete
the approximate $450 million acquisition of Accuride by Crestview
Partners, L.L.C. and the management team and to refinance existing
debt.  A stable rating outlook was assigned.

Assignments:

Issuer: Accuride Corporation (New)
  Corporate Family Rating, Assigned B3
  Probability of Default Rating, Assigned B3-PD
  $235 million Senior Secured First Lien Term Loan, Assigned B3
   (LGD4)

Outlook Actions:
  Outlook, Assigned Stable

                        RATING RATIONALE

Accuride's B3 CFR reflects high customer concentration, lack of
geographic diversification and highly cyclical nature of Accuride's
end markets.  Class 8 truck production has been declining from its
2015 peak levels throughout 2016 and is expected to do so in 2017,
albeit at decelerated levels. Accuride's new capital structure with
the acquisition by Crestview Partners should allow the company more
flexibility to manage through the downturn as we expect that the
company's free cash flow generation will benefit from the debt cost
reduction. However, a deeper than expected downturn in 2017 vehicle
production or continuation of the downturn into 2018 would weaken
Accuride's earnings and cash flow and presents downside credit
risk.  Accuride's restructuring plan completed in 2014 resulted in
improved margins and the company's sale of Brillion Works division
in September 2016 should alleviate additional pressure on free cash
flow as in the last six quarters the division had negative
operating income.  Moody's projects that Accuride's debt-to-EBITDA
leverage will increase to the high 5.0x range in the next 12 months
given the expectation of continued decline in Class 8 truck
production but will still stay within expectations for the B3
rating category, although the company is weakly positioned.

The B3 CFR, SGL-3 speculative-grade liquidity rating and negative
rating outlook on Accuride Corporation's existing debt instruments
are not affected and will be withdrawn if the Crestview Partners'
buyout occurs as expected.

Accuride has an adequate liquidity position supported by existing
cash ($18 million as of 06/30/2016 pro-forma for the purchase by
Crestview Partners) and availability under an undrawn $65million
ABL revolving credit facility expiring in 2021.  Moody's expects
that Accuride will generate slightly negative free cash flow in
2017 that will be funded from the existing cash.  With the new $235
million senior secured term loan, Accuride will have
$2.35 million in annual required amortization for the payment of
which the company will also have to use its existing cash on the
balance sheet.

The stable rating outlook reflects Moody's expectation that the
decline in Accuride's operating results in the next 12 months will
have a negative impact on the company's credit metrics but that the
company's performance will improve in 2018 in line with projected
increase in Class 8 truck production.

Factors that could support a higher rating include continued
improvement in the company's ability to contend with a downturn,
and improvement in operating performance with EBITA margins
approaching 6%, EBITA / interest above 1.5x, debt / EBITDA
reduction, and consistent positive free cash flow generation.

Factors that could result in a lower rating include the company not
staying on track with its operational improvements, resulting in a
significant drop in EBITA margins, deterioration in EBITA /
interest, a weakened liquidity profile, a meaningful loss in market
position or a significant reduction in truck production volumes.

The principal methodology used in these ratings was "Global
Automotive Supplier Industry" published in June 2016.

Accuride Corporation, headquartered in Evansville, Indiana, is a
North American manufacturer and supplier of commercial vehicle
components including wheels, wheel-end components, transmission and
engine related components, in addition to components for use in
industrial equipment.  Revenue for the 12 months ended June 2016
was approximately $575 million.  Crestview Partners will be the
majority owner of Accuride when the debt financing and acquisition
are completed.


ALTICE US: S&P Assigns 'BB-' Rating on Proposed $810MM Loan B
-------------------------------------------------------------
S&P Global Ratings assigned its 'BB-' issue-level rating and '1'
recovery rating to Altice US Finance I Corp.'s proposed $810
million term loan B maturing in January 2025.  The term loan B will
be guaranteed by U.S. cable operator Cequel Communications Holdings
II LLC.  S&P expects net proceeds from the issuance to refinance
the remaining balance on the company's $810 million term loan B due
in 2022.  The '1' recovery rating indicates S&P's expectation for
very high (90%-100%) recovery for secured debt holders in the event
of a payment default.  The proposed transaction will not
significantly alter the company's credit metrics or recovery
prospects; therefore, S&P's 'B' corporate credit rating and stable
outlook, as well as all issue-level ratings, on Cequel
Communications Holdings I LLC remain unchanged.

RATINGS LIST

Cequel Communications Holdings I LLC
Corporate Credit Rating                   B/Stable/--

Altice US Finance I Corp.
$810 mil. term loan B due 2025
Senior Secured                            BB-
  Recovery Rating                          1


AMERICAN CARESOURCE: Hikes Wells Fargo Line of Credit by $1-Mil.
----------------------------------------------------------------
American CareSource Holdings, Inc., entered into an amendment to
its credit agreement with Wells Fargo Bank, National Association
providing for an increase in the working capital revolving line of
credit from $7.0 million to $8.0 million.

The credit agreement, as amended, was initially entered into on
Dec. 4, 2014.  The obligation, which is evidenced by a committed
revolving line of credit note, has a fluctuating interest rate per
annum 1.75% above daily one month LIBOR, as in effect from time to
time.  The obligations under the credit agreement and the Note are
secured by substantially all the assets of the Company and its
subsidiaries.  The credit agreement includes ordinary and customary
covenants related to, among other things, additional debt, further
encumbrances, sales of assets, and investments and lending.  The
funds will be due and payable on June 1, 2017, the date all
indebtedness is due under the Company's credit agreements.

Borrowings under the credit agreement are also secured by
guaranties provided by John Pappajohn (up to $4.0 million) and Mark
Oman (up to approximately $2.7 million) who are directors of the
Company, and Bruce Rastetter (up to approximately $1.3 million).

On Oct. 6, 2016, the Company borrowed $0.2 million from John
Pappajohn.  The loan is evidenced by a promissory note, which bears
interest at 6% per annum.  Interest-only payments are due and
payable under the promissory note on the first day of each calendar
month after the date of issuance, and all principal and accrued but
unpaid interest are due and payable 18 months after the date of
issuance.

                      About American CareSource

American CareSource Holdings, Inc., engages in two lines of
business: its urgent and primary care business, which the Company
operates under the tradenames GoNow Doctors and Medac, and its
ancillary network business.  These lines of business are supported
through a shared services function.

As of June 30, 2016, American CareSource had $19.14 million in
total assets, $23.94 million in total liabilities and a total
stockholders' deficit of $4.80 million.

The Company reported a net loss of $13.31 million in 2015 following
a net loss of $6.76 million in 2014.

RSM US LLP, in Des Moines, Iowa, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2015, citing that Company has suffered recurring
losses from operations and has negative working capital and a net
equity deficiency that raises substantial doubt about the Company's
ability to continue as a going concern.


APS-STELLAR VIEW: U.S. Trustee Unable to Appoint Committee
----------------------------------------------------------
The Office of the U.S. Trustee on Oct. 18 disclosed in a court
filing that no official committee of unsecured creditors has been
appointed in the Chapter 11 case of Aps-Stellar View, LLC.

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.


ASSOCIATED THORACIC: Wants to Use Cash Collateral
-------------------------------------------------
Associated Thoracic & Cardiovascular Surgeons, Ltd. seeks authority
from the U.S. Bankruptcy Court District of Arizona to use cash
collateral in the form of revenue generated by the operation of its
business.

First Fidelity Bank, N.A., Bank of Putnam County and BFG
Corporation claim liens on the assets and receivables of the Debtor
in the approximate amount of $518,4ó6, while Angio Dynamics
Fiance, Bank Midwest, Bank of America, Everbank Commercial Finance,
First Federal Leasing, Heartland Business Credit and Univest
Capital also claim liens on various pieces of medical equipment of
the Debtor.

The Debtor proposes to use revenue from the business to pay
operating expenses in accordance with its proposed Budget to avoid
disruption of their work force, to maintain patient relations and
loyalty, to maintain their market presence, and to preserve the
Debtor's going concern value and its estate while the Debtor
formulate and implement a plan of reorganization.

The Debtor's three-month Budget projects total expenses of $361,317
for the month of October 2016; $465,036 for the month of November
2016; and $459,803 December 2016.

The Debtor offers post-petition replacement liens on their
inventory, accounts, and contract rights to the Lenders, as and for
adequate protection for the Debtor's limited use of cash
collateral.  The Debtor contends that it will also make adequate
protection payments to each of the Lenders going forward until such
time as the parties can work out a longer term resolution of their
claims.

A full-text copy of the Debtor's Motion with Budget, dated October
18, 2016, is available at https://is.gd/ZK5UXa


                    About Associated Thoracic

Associated Thoracic & Cardiovascular Surgeons, Ltd. filed a Chapter
11 petition (Bankr. D. Ariz. Case No. 16-11909), on October 14,
2016.  The petition was signed by Herman Pang, president.  The case
is assigned to Judge Brenda K. Martin. The Debtor's counsel is
Lamar D. Hawkins, Esq., Aiken Schenk Hawkins & Ricciardi, P.C.,
2390 East Camelback Road, Suite 400, Phoenix, AZ.  At the time of
filing, the Debtor estimated assets at $500,000 to $1 million and
liabilities at $1 million to $10 million.

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


ATLANTIC AVIATION: S&P Affirms Then Withdraws 'BB-' CCR
-------------------------------------------------------
S&P Global Ratings said that it has affirmed its 'BB-' corporate
credit rating on Atlantic Aviation FBO Inc.  The outlook is
stable.

Subsequently, S&P withdrew its corporate credit rating on the
company at the issuer's request.

At the same time, S&P withdrew all of its issue-level ratings on
Atlantic Aviation because the company's parent, Macquarie
Infrastructure Corp., announced that the debt has been refinanced.



AUTO TRANSPORT: Case Summary & 2 Unsecured Creditors
----------------------------------------------------
Debtor: Auto Transport Leasing, Inc
        38365-J Innovation Court #1001
        Murrieta, CA 92563

Case No.: 16-19243

Chapter 11 Petition Date: October 18, 2016

Court: United States Bankruptcy Court
       Central District of California (Riverside)

Judge: Hon. Scott H. Yun

Debtor's Counsel: Andrew Moher, Esq.
                  LAW OFFICE OF ANDREW A MOHER
                  10505 Sorrento Valley Rd, Suite 430
                  San Diego, CA 92121
                  Tel: 619-269-6204
                  Fax: 619-923-3303
                  E-mail: amoher@moherlaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Steven L. Cocking, CEO.

A copy of the Debtor's list of two unsecured creditors is available
for free at http://bankrupt.com/misc/cacb16-19243.pdf


BAERG REAL PROPERTY: Can Use Fannie Mae Cash Until Nov. 15
----------------------------------------------------------
Judge Barbara J. Houser of the U.S. Bankruptcy Court for the
Northern District of Texas authorized Baerg Real Property Trust to
use Fannie Mae's cash collateral on an interim basis, until Nov.
15, 2016.

Judge Houser acknowledged that the Debtor had an immediate and
critical need to obtain funds in order to continue the operation of
its business.  She further acknowledged that without such funds,
the Debtor would not be able to pay its direct operating expenses
and obtain goods and services needed to carry on its business in a
manner that will avoid irreparable harm to the Debtor's estate.

The Debtor owns and operates four multifamily properties: Lake
Bluffs Apartments and Lakeview Village in Garland, Texas, and The
Woods Apartments and Oakway Manor Apartments in Irving, Texas.
Each property is encumbered by a Deed of Trust to secure repayment
of a Multifamily Note in favor of M&T Realty Capital Corporation,
which was later assigned to Fannie Mae.

Fannie Mae asserted the Debtor's obligations are secured by valid,
binding, and enforceable liens on and security interests in
substantially all of the Debtor's assets, including the four
Properties and the Debtor's rents and revenues.

Millsworth Enterprises, Inc. asserted a security interest in
certain of the Properties pursuant to one or more Mechanics Liens
and further asserted an interest in insurance proceeds paid to the
Debtor and/or Fannie Mae relating to, among other things, tornado
damage caused to certain of the Properties.

The approved Budget projected total expenses for the year in the
amount of $407,800 for Lake Bluff, $346,937.70 for Lakeview
Village, and $183,598.49 each for The Woods and Oakway Manor.

Fannie Mae was granted replacement liens in all the Debtor's
property, except avoidance action claims, and the insurance
proceeds on which Millsworth Enterprises has an interest.  Fannie
Mae was also granted a superpriority claim, to the extent that the
replacement liens are insufficient to provide adequate protection
against the diminution, if any, in the value of Fannie Mae's
interest in any collateral resulting from the use of cash
collateral.

The Debtor is directed to make the following monthly adequate
protection payments to Fannie Mae, beginning on Oct. 15, 2016:

     (a) Lake Bluff: $22,426
     (b) Lakeview Village: $17,907
     (c) The Woods Apartments: $12,650
     (d) Oakway Manor: $10,058

The final hearing on the Debtor's use of cash collateral is
scheduled on Nov. 14, 2016 at 9:00 a.m.  The deadline for the
filing of objections to the Debtor's use of cash collateral is set
on Nov. 7, 2016 at 4:00 p.m.

A full-text copy of the Interim Order, dated Oct. 14, 2016, is
available at
http://bankrupt.com/misc/BaergRealProperty2016_1633793bjh11_21.pdf

            About Baerg Real Property Trust

Baerg Real Property Trust dba Lake Bluffs Apartments dba Lakeview
Village dba The Woods Apartments dba Oakway Manor Apartments filed
a chapter 11 petition (Bankr. N.D. Tex. Case No 16-33793) on Sept.
29, 2016.  The petition was signed by Hal Baerg, Jr., trustee.  The
Debtor is represented by Joyce W. Lindauer, Esq., at Joyce W.
Lindauer Attorney, PLLC.  The case is assigned to Judge Barbara J.
Houser.  The Debtor estimated assets and liabilities at $1 million
to $10 million at the time of the filing.


BAVARIA YACHTS: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Bavaria Yachts USA, LLLP
           fdba Horizon Bavaria USA, LLLP
        1545 Peachtree Street NE, Suite 110
        Atlanta, GA 30309

Case No.: 16-68583

Chapter 11 Petition Date: October 18, 2016

Court: United States Bankruptcy Court
       Northern District of Georgia (Atlanta)

Debtor's Counsel: Louis G. McBryan, Esq.
                  MCBRYAN, LLC
                  Suite 1150
                  1380 West Paces Ferry Rd.
                  Atlanta, GA 30327
                  Tel: 678-733-9322
                  Fax: 678-498-2709
                  E-mail: lmcbryan@mcbryanlaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Kenneth Feld, manager of Oddbody, LLC,
Debtor's general partner.

A copy of the Debtor's list of 20 largest unsecured creditors is
available for free at http://bankrupt.com/misc/ganb16-68583.pdf


BELIEVERS BIBLE: Can Use Aztec Financial Cash on Final Basis
------------------------------------------------------------
Judge Wendy L. Hagenau of the U.S. Bankruptcy Court for the
Northern District of Georgia authorized Believers Bible Christian
Church, Inc. to use cash collateral on a final basis.

The Debtor owns and operates a church located at 3685 and 3715
Campbellton Rd S.W. Atlanta, Georgia.  The Debtor also owns rental
property located at 2288 Fairburn Road, Atlanta, Georgia, as well
as two vacant parcels and one parcel with an unexpired billboard
lease.

Aztec Financial held a claim in the approximate amount of
$1,300,000.  It asserted that its claim is secured by the Church
and all revenues generated from it.

Judge Hagenau acknowledged that the Debtor's use of cash collateral
on a final basis would minimize the disruption of the Debtor's
existing business, will increase the possibility for a successful
reorganization, sale or orderly liquidation of the Debtor and its
assets, and is in the best interests of the Debtor, its creditors
and other parties-in-interest.

The Debtor is directed to make monthly adequate protection payments
to Aztec Financial in the amount of $5,000, beginning on Oct. 10,
2016.

A full-text copy of the Order, dated Oct. 14, 2016, is available at

http://bankrupt.com/misc/BelieversBible2016_1665531wlh_34.pdf

Aztec Financial can be reached at:

          AZTEC FINANCIAL
          ATTN: Bankruptcy Department
          2624 West Magnolia Blvd.
          Burbank, CA 91505

           About Believers Bible Christian Church

Believer's Bible Christian Church, Inc., filed a Chapter 11
petition (Bankr. N.D. Ga. Case No. 08-61958) on Feb. 4, 2008.  The
Debtor is represented by Paul Reece Marr, Esq., at Paul Reece Marr,
P.C.  The case is assigned to Judge Joyce Bihary.  The Debtor
estimated assets and debts at $1 million to $10 million at the time
of the filing.


BILL MICHAEL: Wins Confirmation of Sale-Based Plan
--------------------------------------------------
Bankruptcy Judge Sara A. Hall confirmed the Chapter 11 Plan of Bill
Michael, Inc.  The judge also approved the explanatory Disclosure
Statement.

The Debtor filed the Plan on Aug. 30, 2016.

The Court finds that the Disclosure Statement should be finally
approved, and the Plan should be confirmed subject to amendments as
submitted in resolution of the objection to confirmation filed by
the United States, on behalf of the Internal Revenue Service, on
Sept. 6, 2016, and objection to confirmation filed by First United
Bank & Trust Co. on Sept. 21, 2016.

The Plan Approval Order incorporates the terms of an Agreed Order
Granting Motion to Sell.  The Plan Approval Order clarifies that
the date for Public Auction should be May 1, 2017 rather than May
1, 2016.  Additionally, the means of funding the Plan as
contemplated by the sale of the Debtor's assets, will include the
Debtor funding the Plan not only from the sales proceeds, but also
through distribution of any and all property of the estate
including the cash, accounts, and accounts receivables, to the
extent they exist at closing of the sale.

Should the purchaser of the Property as set forth in the Purchase
Agreement -- attached to the Motion to Sell, and as approved by the
Court in the Agreed Order Granting Motion to Sell -- fail to make
all payments as required by that agreement, and the corresponding
Note and Mortgage established therein, the Debtor will, within 90
days, take any and action necessary to collect and enforce the Note
and Mortgage.  The Court will retain jurisdiction over the sale,
and all subsequent actions to enforce the Note and Mortgage
pursuant to that agreement.

The Plan Approval Order provides that the treatment of the Class 3
Claims in the Plan, Pg. 8, Section 3.03, will be amended to
substitute the following provision for the first paragraph of that
Section:

"Payment to all Allowed Class 3 claimants will be made in cash, in
full, together with interest from the Petition Date through the
Distribution Date in the appropriate amount as set under Title 28
U.S.C. 1961(a), or Title 26 U.S.C. Sec. 6621, as appropriate, on
the Distribution Date.  The unsecured priority claim of the
Internal Revenue Service is allowed in full as filed on its proof
of claim.  In addition to any payments received under the above
distribution scheme, to the extent the IRS' unsecured priority
claim is not paid in full within thirty (30) days of the
Confirmation Date, the IRS shall receive an equal monthly
installment payment in an amount sufficient to pay the IRS's
unsecured priority claim in full within 5 years of the Order of
Relief."

The remaining "default" provisions contained in Section 3.03 shall
remain unchanged.

All funds over and above necessary to pay Bank, shall be
distributed according to the priority set forth in the Bankruptcy
Code and the Plan.

All proceeds of the sale or of any cash, accounts, and accounts
receivables, to the extent they exist at closing of the sale, are
to be paid to the Debtor's counsel's Trust Account for
Disbursement.

Counsel to First United Bank & Trust Co.:

     John W. Mee III, Esq.
     MEE MEE HOGE & EPPERSON PLLP
     50 Penn Place
     1900 NW Expressway, Suite 1400
     Oklahoma City, OK 73118
     Telephone: (405) 848-9100
     Facsimile: (405) 848-9101

                    About Bill Michael Inc.

Bill Michael, Inc., sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. W.D. Okla. Case No. 16-10236) on Jan.
28, 2016.  The petition was signed by Bill Michael, owner and
president.  

The case is assigned to Judge Sarah A. Hall.

At the time of the filing, the Debtor estimated assets of less
than
$50,000 and liabilities of $1 million to $10 million.

Bill Michael is represented by O. Clifton Gooding, Esq., at The
Gooding Law Firm.


BINDER MACHINERY: Hires Phoenix as Fin'l Advisor, Investment Banker
-------------------------------------------------------------------
Binder Machinery Co., LLC, seeks approval from the U.S. Bankruptcy
Court for the District of New Jersey to hire Phoenix Capital
Resources as Financial Advisor and Investment Banker.

The Debtor requires Phoenix to:

     (a) assist with a sale of the Debtors' assets under section
363 of the Bankruptcy Code, and as appropriate, coordinate with the
Debtors' other financial and legal professionals;

     (b) participate and testify in any bankruptcy court proceeding
on the Debtors' behalf in connection with the Proposed Sale;

     (c) participate in meetings with the Debtors' stakeholders,
official constituencies and other interested parties, as
necessary;

     (d) advise and assist in developing management presentations
describing the Debtors' and the opportunities the Debtors' may
provide to prospective purchasers;

     (e) assist with the development of materials to market the
Debtors' assets, including a potential buyers list and documents
for the data room;

     (f) assist with the development of a potential strategic and
financial buyers list;

     (g) assist with preparation for and coordination of due
diligence visits by potential purchasers;

     (h) assist the Debtors in its evaluation of indications of
interest and the negotiation of appropriate documentation;

     (i) advise in connection with any proposed asset sale or
restructuring of existing indebtedness;

     (j) advise and assist the Debtors' with the accumulation of
data and preparation of various schedules, account analyses and
reconciliations, as necessary; and,

     (k) render any other restructuring advisory services, as
requested by the Debtors or counsel.

Moreover, the Debtor requires Phoenix to provide the following
financial advisory services:

     (a) serve as the Debtors' Financial Advisor during the
bankruptcy cases;

     (b) assist the Company in the preparation, monitoring and
periodic refinement of cash flow forecasts and scorecards that
measure actual to forecasted performance;

     (c) assist the Company in communicating with the DIP Lender;

     (d) assist the Company in interfacing with pre-petition senior
and subordinated lenders, and other constituents, including any
Committee of Unsecured Creditors that may be formed and its counsel
and financial advisor, if any;

     (e) assist the Company in preparing the Statement of Financial
Affairs, Schedules, Monthly Operating Reports, and other
documentation and reports required in conjunction with the
Company's bankruptcy filing, and provide testimony if so
requested;

     (f) assist the Company with daily cash management activities,
including maximizing and forecasting collections and availability,
and assisting the Company with prioritizing disbursements within
the Company's availability constraints and subject to its DIP Loan
Agreement; and,

     (g) render any other restructuring advisory services, as
requested by the Debtors or counsel.

Phoenix will be paid at these hourly rates:

   * For Services related to the Proposed Sale, the Company will
pay Phoenix an initial, non-refundable fee of $20,000, which will
be due upon approval of the Application by the Bankruptcy Court.
In addition, upon the closing of a transaction, the Company agrees
to pay Phoenix a transaction fee, in the form of federal funds via
wire transfer or ACH transfer, at the time of the closing equal to
the greater of: (a) $275,000, or (b) 1.75% of a Transaction Value
up to $20,000,000, plus; 2.75% of a Transaction Value between
$20,000,001 and $25,000,000; plus 5.00% of a Transaction Value
between $25,000,001 and $30,000,000; plus 6.00% of a Transaction
Value greater than $30,000,001.  It is understood that if the
proceeds of any such Transaction are to be funded in more than one
stage, Phoenix will be entitled to its applicable compensation upon
the closing date of each stage. If the only Transaction involves a
Credit Bid by Callidus, then Phoenix shall only be entitled to a
Transaction Fee of $275,000.

Moreover, if a written notice of an Event of Default is delivered
by Callidus, as DIP Lender, to the Debtors, and the sale process is
suspended as a result, the Investment Banking Services will be
terminated, and the following fee arrangement will apply: (i) If
the Investment Banking Services are terminated prior to 10/31/16,
Phoenix will be entitled to a Transaction Fee of $125,000; (ii) In
addition, if the Investment Banking Services are terminated on
10/31/16 or after, Phoenix will be entitled to an additional
Transaction Fee of $15,000 per week beginning the week ending
11/04/16 for a maximum of 8 additional weeks; (c) Accordingly, if
the Investment Banking Services are terminated on 12/24/16 or
later, Phoenix would be entitled to a Transaction Fee of $245,000.

   * For Financial Advisory Services - as compensation for the
Financial Advisory Services outlined in the Engagement Letter,
Phoenix will bill the Company based on the following schedule of
our hourly rates:

   Senior Managing Directors           $495 - $695
   Senior Advisors                     $400 - $650
   Managing Directors                  $395 - $525
   Senior Directors                    $350 - $450
   Directors                           $320 - $375
   Vice Presidents & Sr. Associates    $250 - $350
   Analysts/Associates                 $150 - $275
   Admin Staff                          $75 - $150

The Phoenix professionals who will take a lead in the services for
the Debtor are Michael Jacoby and Mark Karbinger.  Mr. Jacoby's
hourly billing rate is currently $625 per hour and Mr. Karbiner's
hourly billing rate is currently $425 per hour.  Phoenix expects to
utilize an Analyst/Associate level resource as well. Travel time
will be billed at 50%.  Beginning with the week of October 18,
2016, Phoenix will provide email notice to Callidus and counsel
if/when its accrued weekly hourly fees exceed $7,500.

Phoenix will also be reimbursed for reasonable expenses incurred in
connection with its services in this case as set forth in the
Engagement Agreement.

Michael E. Jacoby, Senior Managing Director of Phoenix, 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.

Phoenix can be reached at:

         Michael E. Jacoby
         PHOENIX CAPITAL RESOURCES
         110 Commons Court
         Chadds Ford, PA 19317
         Fax: (610) 358-9377
         Mobile: (610) 888-9704
         Email: mjacoby@phoenixmanagement.com

             About Binder Machinery

Headquartered in South Plainfield, New Jersey, Binder Machinery Co,
LLC, is a seller of heavy construction machinery including
aggregate equipment, paving machines, cranes, telehandlers and
purpose-built material handlers. Komatsu, Wirtgen, Hamm, Vogele,
Sennebogen, SANY, Kinshofer, and Chicago Pneumatic are among the
manufacturers for whom Binder and Rocbin Investment Corp., its
subsidiary, provide distributor services.

The Company was founded in 1957 by the late Walter Binder. It
employs 87 individuals and enjoys a customer base of approximately
4,000 construction contractors.

Binder Machinery Co, LLC, sought Chapter 11 protection (Bankr. D.
N.J. Case No. 16-28015) on Sept. 20, 2016.  Judge Kathryn C.
Ferguson is assigned to the case.

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

The petition was signed by Robert C. Binder, manager, chief
executive officer.


BORGER ENERGY: Moody's Lowers Rating on Sr. Sec. Bonds to B1
------------------------------------------------------------
Moody's Investor Service downgraded Borger Energy Associates,
L.P.'s senior secured bonds to B1 from Ba3.  The rating outlook is
stable.

                         RATINGS RATIONALE

The rating downgrade to B1 reflects Borger's lower than expected
financial performance with debt service coverage ratios (DSCR)
below 1.0x since 2014, weakened standalone liquidity, and
relatively low resiliency to unexpected future outages or capital
spending requirements given the project's financial under
performance.  For the last twelve month ending June 30, 2016, we
estimate the project had DSCR of around 0.90x, which is
commensurate with its average DSCR since 2014.  While the project
has not drawn on its debt service reserve, Borger's standalone cash
position has dwindled over time.  Low natural gas prices have been
the key driver of the project's financial underperformance since it
results in lower energy margins under both its power purchase and
steam sales agreements.  Additionally, the project has incurred
operational issues in the past that has further contributed to
material declines in cash flow and liquidity over time.

The downgrade also captures the likely need for future capital
spending and the project's limited source of funds given its
financial underperformance.  Ongoing capital spending is essential
for Borger to maintain high availability under its power purchase
agreement (PPA) with Southwestern Public Service Company (SPS: Baa1
stable) so it can earn its full capacity payments.

The B1 rating is supported by the project's PPA that provides
stable capacity revenues, its role as an important source of steam
to its steam host, and traditional project finance features such as
a six-month debt service reserve and security in the assets.
Moody's also incorporates the view that project provides some
economic value for the sponsor since the project should generate
contracted cash flows for approximately 21 months after debt
maturity.  Additional incentives are possible to the extent the
steam sales contract is extended on attractive terms or if SPS
exercises its 10-year extension option under the PPA.

Moody's understands that Borger is in the process of being sold by
current owner FRIEF North American Power I, LLC, 100% indirectly
owned by funds managed by First Reserve, to a joint venture to be
owned by funds managed by Harbert Management Group (49%), UBS
Infrastructure (33%), and Northwestern Mutual (18%).  The pending
change in ownership, a "Change of Control" in the Borger financing
documents, is, in and of itself, not negative for Borger's credit
quality.

The stable outlook considers Moody's assumption that incentives
exist for ongoing sponsor support, if needed, and that the project
will not draw on its debt service reserve over the next 12 months
even if its financial performance comes under some stress.

Following the downgrade and the prospects for natural gas prices,
the rating is not likely to be upgraded in the intermediate term.
The rating could be upgraded if Borger is able to sustain DSCR
comfortably above 1.0x while addressing its needed capital spending
requirements.

Moody's said, "The rating could be downgraded if the sponsor
support that we incorporate is not forthcoming, if low natural gas
prices cause the project's DSCR to remain below 1.0 times on a
sustained basis, should the project need to draw on its debt
service reserve or major operational problems surface."

Borger Energy Associates, L.P. is a limited partnership that owns
and operates a 230 MW, gas-fired cogeneration facility located near
Borger, Texas.  Southwestern Public Service purchases all
electricity generated while ConocoPhillips (Baa2 negative)
purchases Borger's steam for use in its adjacent refinery.  The
Borger plant consists of two Siemens 501D5A combustion turbines,
and two heat recovery steam generators that began commercial
operations in 1999.  Borger is ultimately 100% owned by FREIF North
American Power I, LLC, which is 100% owned by First Reserve.

The principal methodology used in this rating was Power Generation
Projects published in December 2012.


BRENDA VELEZ: Toyota's Bid to Reopen Ch. 11 Case Denied
-------------------------------------------------------
Judge Brian K. Tester of the United States Bankruptcy Court for the
District of Puerto Rico denied Toyota Motor Corporation's motion to
reopen the chapter 11 case of Brenda Lugo Velez.

The bankruptcy case was filed on August 9, 2013, the plan was
confirmed on September 23, 2014, and the final decree was entered,
closing the case, on July 28, 2015.  The Debtor has not yet
received a discharge.  Although Toyota states in their motion that
the case "was only administratively closed," Judge Tester pointed
out that that is not correct.  The bankruptcy court in the District
of Puerto Rico closes individual chapter 11 bankruptcy cases
following the issuance of the 'Final Decree.'  A debtor's request
for discharge would first necessitate the reopening of the case
along with payment of the pertinent fee.

Judge Tester stated that Toyota has not provided the court with any
information as to the specifics of its request.  While Toyota's
motion contains the statement "Toyota[sic] request to reopen the
case relates to Debtor’s default with the terms of the confirmed
plan,"  Judge Tester held that such sole declaration, in and of
itself, is insufficient for the court to determine whether
reopening the case is necessary.  The judge thus concluded that
Toyota has not met the necessary burden of proof.

A full-text copy of Judge Tester's October 13, 2016 order is
available at http://bankrupt.com/misc/prb13-06518-161.pdf

                    About Brenda Lugo Velez

Brenda Lugo Velez filed a Chapter 11 bankruptcy petition (Bankr.
D.P.R. Case No. 13-06518) on August 9, 2013.


CALUMET SPECIALTY: S&P Affirms 'B-' CCR & Revises Outlook to Neg.
-----------------------------------------------------------------
S&P Global Ratings said it revised its rating outlook to negative
from stable on Indianapolis-based Calumet Specialty Products
Partners L.P. and affirmed its 'B-' corporate credit rating on the
company.

S&P also affirmed its 'B+' issue-level rating on the company's
senior secured notes and S&P's 'CCC+' issue-level rating on the
company's senior unsecured notes.  The recovery rating on the
senior secured notes remains '1', indicating S&P's expectation of
very high (90% to 100%) recovery in the event of a payment default.
The recovery rating on the senior unsecured notes remains '5',
indicating S&P's expectation of modest (10% to 30%; upper half of
the range) recovery in the event of a payment default.

"The negative outlook reflects our expectation that debt to EBITDA
will be about 8x to 9x over the next year," said S&P Global Ratings
credit analyst Stephen Scovotti.  "While we expect the company's
Specialty Products segment to produce relatively stable cash flow,
we believe that its Fuel Products segment will continue to have
weak profitability due to relatively low Gulf Coast 2/1/1 crack
margins and high RIN costs.  However, we do expect the company's
liquidity to remain adequate over the next 12 months."

S&P could lower the rating if it viewed Calumet's capital structure
as unsustainable or if S&P viewed the company's liquidity as less
than adequate.  This could occur if credit metrics weakened further
due to weaker crack margins than S&P's current expectation or if
RIN costs further increased.

S&P could revise the outlook to stable if it believed that the
company would sustain debt to EBITDA below 6x, while maintaining
liquidity S&P views as adequate.  This could occur if crack margins
improve and the company is successful at reducing costs.


CF INDUSTRIES: Fitch Cuts Issuer Default Rating to 'BB+'
--------------------------------------------------------
Fitch Ratings has downgraded the Issuer Default Ratings (IDR) of CF
Industries Holdings, Inc. (NYSE: CF) and CF Industries, Inc. (CF
Industries) to 'BB+' from 'BBB'.

Debt in the amount of $5.6 billion and revolving credit facility
commitments of $1.5 billion are affected by this action.

The Rating Outlook has been revised to Stable from Negative.

The downgrade reflects Fitch's view that weakness in the nitrogen
fertilizer market is likely to persist into 2017 as a result of
market oversupply. This sustained weakness followed by gradual
recovery is expected to pressure operating results in the near term
and drive elevated leverage through the next several years. Fitch
expects FFO adjusted net leverage above 2.8x through 2019.

The Stable Outlook reflects expectations of free cash flow (FCF)
generation beginning in 2017 aided by expected tax refunds and
lower capital requirements as well as sufficient liquidity.

PROFITABILITY

Despite expectations for lower ammonia prices, Fitch expects CF to
generate average operating EBITDA margins in excess of 30% and
annual operating EBITDA of at least $1 billion in 2017 and $1.3
billion in 2018.

LEVERAGE

Fitch believes FFO adjusted net debt best reflects CF's leverage,
since it captures distributions to CHS, Inc. and cash-build in
advance of debt maturities. Fitch expects FFO adjusted net leverage
to peak mid-2017 at about 6x before declining to about 3x by the
end of 2019.

CASH FLOW

Spending on expansion projects at CF's Port Neal, IA and
Donaldsonville, LA facilities is expected to be completed by the
end of 2016 and annual capital spending thereafter should drop to
below $500 million. Fitch expects FCF to be negative by at least
$2.5 billion in 2016 but to be consistently positive thereafter and
average in the range of $400 million-$500 million per year.

CHS STRATEGIC VENTURE

In February 2016, CHS, Inc. purchased a minority interest in CF
Industries Nitrogen, LLC (CF Nitrogen) for $2.8 billion. CHS will
be entitled to semi-annual profit distributions from CF Nitrogen
based generally on the volume of granular urea and UAN purchased by
CHS pursuant to a supply agreement. The $2.8 billion in proceeds
provided sufficient liquidity support for CF's final year of
project spending.

Once CF's capacity expansion projects are completed, it will have
total production of 18.9 million tons. Under the supply agreement,
CHS will have the right to purchase up to 1.7 million tons, or 8.9%
of the 18.9 million tons capacity at market prices.

INDUSTRY PROFILE AND OUTLOOK

The U.S. nitrogen fertilizer market benefits from corn's dominance
for feed, fuel and export, nitrogen's impact on yield for the crop,
the need to apply nitrogen annually, and the U.S. being
structurally short of supply. The U.S. imported (net of exports)
about 29% of its nitrogen consumption in 2015 and is likely to rely
on imports even after planned projects add up to 5.1 million tons
of gross ammonia capacity. Fitch believes ammonia prices will
remain relatively low in 2017 on global oversupply before improving
on better demand and supply rationalization. Fitch notes that
recovery in domestic nitrogen fertilizer prices depends on capacity
closures which would accelerate from strengthening in global energy
prices. In particular, stronger APAC coal markets could accelerate
closures and improve CF's cost position further.

COMPANY PROFILE

CF's ratings benefit from its position as the largest nitrogen
fertilizer producer in North America and the second largest
globally as well as its position as one of the lower cost
producers, globally, given the shale gas advantage. The company
operates five nitrogen fertilizer production facilities in the
U.S., two in Canada and two in the UK. In 2015, CF accounted for
roughly 38% of the North American market for nitrogen fertilizers.

KEY ASSUMPTIONS

Fitch's key assumptions within the rating case for CF Industries
include:

   -- Fitch's natural gas price deck;

   -- Average prices roughly $205/ton in 2017, $219/ton in 2018,
      and $235/ton in 2019;

   -- Capital spending below $500 million on average after 2016;

   -- No share-buybacks and no growth in dividends.

RATING SENSITIVITIES

Negative: Future developments that could lead to negative rating
actions include:

   -- FCF expected to be negative beyond 2016;

   -- Available liquidity expected to be less than $1 billion on
      average;

   -- FFO adjusted net leverage expected to be greater than 3.3x
      on a sustained basis.

Positive: Future developments, although not expected in the next 12
months, that could lead to positive rating actions include:

   -- FCF (cash flow from operations less capital expenditures and

      dividends) grows faster than expected;

   -- FFO adjusted net leverage managed to below 2.5x on a
      sustained basis.

LIQUIDITY

As of June 30, 2016, CF had $2 billion of cash on hand and nearly
$1.5 billion available under the $1.5 billion unsecured revolving
credit facility due September 2020 (after $5 million utilization
for letters of credit). As with CF Industries' notes, CF
Industries' revolver is guaranteed by CF.

The revolver contains two financial covenants: a minimum
EBITDA/interest coverage ratio of 2.75:1.00 and a maximum net
leverage ratio of 5.25x for the quarters ending Sept, 30, 2016,
Dec. 31, 2016 and March 31, 2017; 5x for the quarter ending June
30, 2017; 4.75x for the quarter ending Sept. 30, 2017; 4x for the
quarter ending Dec. 31, 2017; and 3.75x for periods after Dec. 31
2017. The $250 million 4.49% private notes due 2022, $500 million
4.93% private notes due 2025, and the $250 million 5.03% private
notes due 2027 each have the same financial covenants as the
revolver.

Fitch believes there could be pressure on the net leverage covenant
by mid-2017. Fitch expects CF to manage its liquidity prudently
during this period of low nitrogen fertilizer prices.

Liquidity is sufficient in consideration of the 2016 expected cash
burn and expectations for future FCF generation. CF has no
scheduled debt due before the $800 million 6 7/8% notes are due May
2018. Fitch expects these notes to be repaid with cash on hand.

FULL LIST OF RATING ACTIONS

Fitch downgraded CF Industries Holdings, Inc. as follows:

   -- Issuer Default Rating (IDR) to 'BB+' from 'BBB'.

Fitch downgrades CF Industries, Inc. as follows:

   -- IDR to 'BB+' from 'BBB';

   -- Senior unsecured credit facility to 'BB+/RR4' from 'BBB';

   -- Senior unsecured notes to 'BB+/RR4' from 'BBB'.

The Ratings Outlook is Stable.


CHANNEL TECHNOLOGIES: Wants $5-Mil. Blue Wolf Capital DIP Loan
--------------------------------------------------------------
Channel Technologies Group, LLC, asks the U.S. Bankruptcy Court for
the Central District of California for authorization to obtain
postpetition financing from Blue Wolf Capital Fund II, L.P., and
use cash collateral.

The Debtor is indebted to Blue Wolf Capital Fund II in the amount
of $2,860,000, plus interest accrued and accruing, costs, expense,
fees and other charges.  The Debtor granted security interests and
liens to Blue Wolf Capital Fund II in the Prepetition Collateral,
which constitutes substantially all of the Debtor's personal
property.

The Debtor relates that the proposed  DIP Lender is an affiliate
and insider of the Debtor and indirectly holds the majority and
controlling equity interest in the Debtor.

The Debtor tells the Court that it has an urgent and immediate need
for access to cash collateral and borrowings under the DIP
Financing Agreement of up to $5,000,000, of which $1,250,000 would
be available on an interim basis.  The Debtor further tells the
Court that it must have sufficient liquidity to meet the needs,
demands, and obligations of its business.

The relevant terms, among others, of the DIP Financing Agreement
are:

     (1) Use of Proceeds:  The proceeds of the DIP Loan shall be
utilized as follows:

          (a) general working capital and operational expenses;
          
          (b) administration of the case, as projected and in
accordance with a 13-week cash flow budget prepared by the Debtor;


          (c) payment to the Prepetition Lender in satisfaction of
the Prepetition Debt upon entry of a Final Order; and

          (d) costs, expenses, closing payments, and all other
payment amounts contemplated by the DIP Loan Documents.

     (2) Interest Rate: 10% per annum on the outstanding balance of
the DIP Loan principal.  Upon the occurrence of an Event of Default
and during the continuation of such default, interest will accrue
on any outstanding balance of the DIP Loan principal at 12% per
annum.

     (3) Term/Maturity:  The outstanding principal amount of the
DIP Loan plus any unpaid accrued Interest or Default Interest and
any Costs and Expenses will be due and payable in full in cash upon
the earlier of:

          (i) the first anniversary of the Petition Date;

         (ii) the effective date of a confirmed plan of
reorganization;

        (iii) conversion of the Bankruptcy Case to a case under
Chapter 7 of the Bankruptcy Code;

         (iv) appointment of a Chapter 11 trustee in the Bankruptcy
Case;

          (v) dismissal of the Bankruptcy Case;

         (vi) 30 days after the entry of the Interim Order if the
Final Order has not been entered prior to the expiration of such
30-day period;

        (vii) the date on which the Court enters a final order
approving a post-petition financing between the Debtor and another
lender or investor, other than the DIP Lender;

       (viii) consummation of a transaction, or consummation of a
transaction in a series of transactions that will result in the
sale of substantially all of the Debtor’s non-cash assets,
whether under Bankruptcy Code Section 363 or otherwise;

         (ix) stay, reversal, modification or the granting of
relief from either the Interim Order of the Final Order; and

          (x) five business days after the DIP Lender notifies the
Debtor and its counsel in writing of an Event of Default which is
not subsequently cured or waived by the end of such notice period.

     (4) Cash Collateral:  The Debtor may utilize the Prepetition
Lender's and the DIP Lender's Cash Collateral only as follows:

          (i) general working capital purposes in the ordinary
course of business; and

         (ii) administration of the Bankruptcy Case.

     (5) DIP Collateral:  The DIP Loan will be secured by a
perfected first priority lien on any and all current and future
property of the Debtor of any nature or type whatsoever, subject
only to the Carve-Out and the Permitted Prior Liens.

     (6) Super-priority:  The DIP Loan will constitute claims with
a priority over all administrative expenses.

     (7) Carve-Out: Consists of:

          (i) unpaid fees of the Clerk of Court and the U.S.
Trustee;

          (ii) unpaid fees and expenses of the professionals of the
Debtor and any official committee of unsecured creditors; and

          (iii) fees and expenses of the Professionals incurred
after the Trigger Date in an amount not to exceed $100,000.

     (8) Adequate Protection:  As adequate protection of the
Prepetition Lender's interest in the Prepetition Collateral, the
Prepetition Lender will receive:  

          (i) replacement liens in the Debtor's postpetition assets
to the same extent and with the same priority as were held by the
Prepetition Lender in the Prepetition Collateral subject and
subordinate only to the Carve-Out, the DIP Liens, and those valid,
properly perfected, unavoidable liens senior the Prepetition Liens;


          (ii) a superpriority administrative expense claim with
priority over all claims except those with respect to the Carve-Out
and the DIP Superpriority Claim;

          (iii) payment in full of the Prepetition Debt with the
proceeds of the DIP Loan upon entry of the Final Order and current
payment of reasonable documented out-of-pocket costs and expenses
of the Prepetition Lender's financial advisors and attorneys, which
right shall expire at such time as the Prepetition Lender receives
indefeasible payment in full of the Prepetition Debt; and

          (iv) reasonable access upon reasonable notice during
normal business hours to the Debtor’s non-privileged and
non-confidential business records and property.

The Debtor's proposed 16-Week Budget covers the period beginning on
the week ending October 14, 2016 and ending with the week ending
Feb. 3, 2017.  The Budget provides for total disbursements in the
amount of $6,707,365.

A full-text copy of the Debtor's Motion, dated Oct. 14, 2016, is
available at
http://bankrupt.com/misc/ChannelTechnologies2016_916bk11912pc_3.pdf

Channel Technologies Group, LLC, is represented by:

          Laura Davis Jones, Esq.
          Jeffrey W. Dulberg, Esq.
          Victoria A. Newmark, Esq.
          PACHULSKI STANG ZIEHL & JONES LLP
          10100 Santa Monica Blvd., 13th Floor
          Los Angeles, CA 90067
          Telephone: (310) 277-6910
          E-mail: ljones@pszjlaw.com
                  jdulberg@pszjlaw.com
                  vnewmark@pszjlaw.com

Blue Wolf Capital Fund II, L.P., is represented by:

          John Monaghan, Esq.
          HOLLAND & KNIGHT, LLP
          10 Saint James Avenue, 11th Floor
          Boston, MA 02116
          Telephone: (617) 573-5834
          E-mail: john.monaghan@hklaw.com

                    About Channel Technologies

Headquartered in Santa Barbara, California, Channel Technologies
Group, LLC, designs and manufactures piezoelectric ceramics,
transducers, sonar equipment and other related products sold
primarily to military, commercial, and industrial customers in the
United States and internationally.  

CTG is a privately owned California limited liability company
founded in 1959.  In 2011, CTG was acquired by BW Piezo
Holdings, LLC, a Delaware limited liability company, from Alta
Properties, Inc., f.k.a. Channel Technologies, Inc.  BWP now owns
100% of CTG's member interests.  BWP is majority-owned by Blue Wolf
Capital Fund II, L.P. (the Company's pre-petition lender), which is
an investment fund managed by Blue Wolf Capital Advisors, L.P.  CTG
is a member-managed LLC.  Charles Miller is the manager.

CTG filed a Chapter 11 petition (Bankr. C.D. Cal. Case No.
16-11912) on Oct. 14, 2016.  The case is assigned to Judge Peter
Carroll.

The Debtor estimated $10 million to $50 million in assets and
debt.

The Debtor has engaged Pachulski Stang Ziehl & Jones LLP as
bankruptcy counsel, CR3 Partners, LLC as restructuring advisor, and
Prime Clerk LLC as noticing, claims and balloting agent.


CHICORA LIFE: Plan Confirmation Hearing Set for Nov. 9
------------------------------------------------------
The U.S. Bankruptcy Court for the District of South Carolina
granted conditional approval to the disclosure statement explaining
the Chapter 11 Plan of Chicora Life Center, LC.

Nov. 9, 2016, 11:00 a.m. is fixed for the hearing on final approval
of the Disclosure Statement (if a written objection has been timely
filed) and for the hearing on confirmation of the Plan, which will
be held at King & Queen Building, 145 King Street, Room 225,
Charleston, South Carolina.

Nov. 4, 2016 is fixed as the last day for filing written
acceptances or rejections of the Plan.  Written objections to the
disclosure statement and confirmation of the Plan are also due that
day.

As reported by the Troubled Company Reporter, the Debtor's Amended
Disclosure Statement says that general unsecured creditors are now
classified as Class 11 and are impaired.  This class will include
any counter-claims or cross claims made by litigants in the
disputes with Fetter Heath Care Network, Charleston County, John
Singletary, Lee and Associates, or Matthew Richard Moore.  The
Debtor does not believe there will be any allowed claims in Class
11.  To the extent that any claims are allowed, the holders of
allowed claims in Class 11 will receive pro rata payments on their
allowed claims on a quarterly basis throughout the life of the Plan
in the full amount of their allowed claims, funded through the
earlier of the sale of the subdivided lots, or successful
refinancing.

The Debtor does not project any recovery for any of the foregoing
creditors, nor would the disposition of any of these counterclaims
or cross claims materially impact the estate.

The Debtor believes and asserts that it has the ability to repay
all creditors in full.

The Debtor's Plan calls for stabilization of the occupancy of the
real property on which is located a 400,000 square foot facility
which occupies the site of the old naval hospital in North
Charleston, South Carolina, or the orderly liquidation of the
Debtor's assets over the course of the Plan term.  Based on the
feasibility budget, the Debtor believes that it can demonstrate
the
ability to pay the debts called for in Classes 1-10 of the Plan,
therefore the Debtor asserts that the Plan is not likely to be
followed by a liquidation or the need for further reorganization
of
the Debtor.

The Amended Disclosure Statement is available at:

           http://bankrupt.com/misc/scb16-02447-129.pdf

The Plan was filed by the Debtor's counsel:

     G. William McCarthy, Jr., Esq.       
     Daniel J. Reynolds, Jr., Esq.       
     W. Harrison Penn, Esq.     
     McCARTHY, REYNOLDS, & PENN, LLC        
     1517 Laurel Street        
     P.O. Box 11332       
     Columbia, SC 29201-1332       
     Tel: (803) 771-8836  
     Fax: (803) 765-6960
     E-mail: bmccarthy@mccarthy-lawfirm.com
             dreynolds@mccarthy-lawfirm.com
             hpenn@mccarthy-lawfirm.com

                    About Chicora Life Center

Chicora Life Center, LC, is a manager managed limited company
formed in 2014 and domesticated to Utah in 2016.  The Debtor
manages and leases real property on which is located a 400,000
square foot facility which occupies the site of the old naval
hospital in North Charleston, South Carolina.  Chicora Gardens
Holdings, LLC, is the manager of the Debtor.  Douglas M. Durbano
is
the manager of Chicora Gardens Holdings, LLC.

The Debtor sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. D. S.C. Case No. 16-02447) on May 16, 2016.  The
petition was signed by Jeremy K. Blackburn, property manager.  The
Debtor is represented by G. William McCarthy, Jr., Esq., at
McCarthy Law Firm, LLC.  The Debtor disclosed total assets of
$48.3
million and total debts of $22.09 million.


CIRCLE Z: Wants Court Authorization to Use Cash Collateral
----------------------------------------------------------
Circle Z Pressure Pumping, LLC, asks the U.S. Bankruptcy Court for
the Eastern District of Texas for authorization to use cash
collateral.

The Debtor is indebted to:

     (1) Austin Bank, to whom the Debtor owes $10,058,251, plus
accrued and unpaid interest, fees and expenses.  Austin Bank has a
first lien on all accounts, contract rights, chattel paper,
instruments, general intangibles, and rights to payment of every
kind arising out of the business of the Debtor, as well as all
inventory, raw material, works in progress, and the proceeds
thereof.  Austin Bank also has a first priority lien and security
interest in, to and against the majority of the Debtor's assets.

     (2) Community Bank of Longview, Texas, to whom the Debtor owes
approximately $2,015,662, plus accrued and unpaid interest, fees
and expenses.  Community Bank holds a lien on all accounts,
contract rights, chattel paper, instruments, general intangibles,
and rights to payment of every kind arising out of the business of
the Debtor, as well as all inventory, raw material, works in
progress, and their proceeds.  The lien is junior and inferior to
the lien of Austin Bank.  Community Bank also has first liens on
certain equipment owned by the Debtor.

     (3) All other secured creditors, to whom the Debtor owes
$2,567,000, plus accrued and unpaid interest, fees, and expenses,
of which approximately $1,255,000 may be insider debt.

The Debtor relates that it has other non-insider, unsecured,
third-party debt in the amount of approximately $7,614,000,
consisting largely of trade debt and a tax claim of $778,000, which
is disputed by the Debtor.  The Debtor further relates that it has
unsecured debt which has been advanced by one or more equity owners
or insiders over time in the approximate amount of $386,000.

The Debtor says that it needs to use cash collateral in order to
satisfy its payroll and other direct operating expenses as is
necessary to continue its operations.

A full-text copy of the Debtor's Motion, dated Oct. 14, 2016, is
available at http://bankrupt.com/misc/CircleZ2016_1660633_7.pdf

                  About Cicle Z Pressure Pumping

Circle Z Pressure Pumping, LLC, filed a chapter 11 petition (Bankr.
E.D. Tex. Case No. 16-60633) on Oct. 11, 2016.  The petition was
signed by David Powell, member.  The Debtor is represented by
Michael E. Gazette, Esq., at the Law Offices of Michael E. Gazette.
The Debtor estimated assets and debt of $10 million to $50 million
at the time of the filing.

The Debtor was originally formed in Texas in 2009.  Its corporate
headquarters and home office is located in Longview, Panola County,
Texas.  The Debtor's managing member, David Powell, has been with
the Debtor since its formed.  The Debtor's business is exclusively
in the oil and gas industry rendering services in the hydraulic
fracturing of formations to enhance the recovery of oil and gas.


CLARK-CUTLER-MCDERMOTT: Court Allows Continued Cash Collateral Use
------------------------------------------------------------------
Judge Christopher J. Panos of the U.S. Bankruptcy Court for the
District of Massachusetts authorized Clark-Cutler-McDermott Company
to continue using cash collateral.

Judge Panos directed the Debtor's counsel to submit a proposed
Order by Oct. 17, 2016.

A continued hearing on the Debtor's use of cash collateral is
scheduled on Dec. 21, 2016 at 1:30 p.m.

A full-text copy of the Order, dated October 14, 2016, is available
at
http://bankrupt.com/misc/ClarkCutlerMcDermott2016_1641188_339.pdf

            About Clark-Cutler-McDermott Company

Automobile parts manufacturer Clark-Cutler-McDermott Company and
its subsidiary CCM Automotive Lafayette LLC filed chapter 11
petitions (Bankr. D. Mass. Lead Case No. 16-41188) on July 7, 2016.
The petitions were signed by James T. McDermott, CEO. Judge
Christopher J. Panos presides over the case.

The Debtors are represented by Charles A. Dale, III, Esq., David
Mawhinney, Esq., and Mackenzie Shea, Esq., at K&L Gates LLP.

The Debtors each estimated assets of $10 million to $50 million and
debt of $10 million to $50 million at the time of the chapter 11
filings.



CNH INDUSTRIAL: S&P Assigns 'BB' Rating on Proposed Sr. Notes
-------------------------------------------------------------
S&P Global Ratings assigned its 'BB' issue-level rating to
U.S.-based CNH Industrial Capital LLC's proposed senior unsecured
notes. CNH Industrial Capital America LLC (unrated) and New Holland
Credit Co. LLC (unrated), both wholly owned subsidiaries of CNH
Industrial Capital, will guarantee the notes.  S&P understands that
the company expects to use the proceeds from this debt for working
capital and other general corporate purposes, which may include the
repayment of its outstanding debt or the purchase of receivables or
other assets.

S&P rated the unsecured notes one notch lower than its corporate
credit rating on CNH Industrial Capital because S&P estimates that
the company's amount of unencumbered assets will remain close to or
less than the amount of its unsecured debt.  The company's heavy
reliance on secured debt, through asset-backed security
transactions, encumbers a significant majority of its balance sheet
assets.

CNH Industrial Capital is a wholly owned subsidiary of CNH
Industrial N.V. (CNHI), a public limited liability company
organized under the laws of the Netherlands with its principal
office located in the U.K. CNH Industrial Capital is a captive
finance company that provides financial services for CNHI's
customers in the U.S. and Canada.

S&P's 'BB+' corporate credit rating on CNH Industrial Capital
reflects S&P's long-term corporate credit rating on CNHI, its
parent.  S&P views this subsidiary as a core holding of CNHI, given
its strategic importance to the parent (financial services are a
key offering that facilitates the sale of CNHI's equipment), CNHI's
ability to influence its actions, and S&P's expectation that the
parent would provide financial support to the company in times of
need.  There is a support agreement between the two companies and
CNH Industrial Capital's receivables account for about half of the
total managed portfolio of CNHI's financial services organization
globally.

RATINGS LIST

CNH Industrial Capital LLC
Corporate Credit Rating             BB+/Stable/--

Ratings Assigned

CNH Industrial Capital LLC
Senior Unsecured Notes              BB



CRYOPORT INC: Further Extends Tender Offer Until Oct. 28
--------------------------------------------------------
Cryoport, Inc., extended its issuer tender offer with respect to
the Company's outstanding warrants to purchase one share of common
stock at an exercise price of $3.57 per share until 5:00 p.m.,
Eastern Time on Oct. 28, 2016, unless further extended by the
Company.  The Offer had been previously scheduled to expire at 5:00
p.m., Eastern Time on Oct. 21, 2016.

The Offer is subject to the terms and conditions set forth in the
Company's Tender Offer Statement on Schedule TO and the related
exhibits included therein, initially filed with the Securities and
Exchange Commission on Aug. 11, 2016.

As of 1:00 p.m., Pacific Time on Oct. 13, 2016, 1,963,289 Original
Warrants were tendered by holders of Original Warrants in
connection with the Offer.

                          About Cryoport

Lake Forest, Calif.-based CryoPort, Inc. (OTC BB: CYRX) provides
comprehensive solutions for frozen cold chain logistics, primarily
in the life science industries.  Its solutions afford new and
reliable alternatives to currently existing products and services
utilized for bio-pharmaceuticals and biologics, including in-vitro
fertilization, cell lines, vaccines, tissue and other commodities
requiring a reliable frozen solution.

Cryoport reported a net loss attributable to common stockholders of
$15.05 million on $5.88 million of revenues for the year ended
March 31, 2016, compared to a net loss attributable to common
stockholders of $12.2 million on $3.93 million of revenues for the
year ended March 31, 2015.

KMJ Corbin & Company LLP, in Costa Mesa, California, issued a
"going concern" qualification on the consolidated financial
statements for the year ended March 31, 2016, citing that
the Company has recurring operating losses from inception and has
used substantial amounts of working capital in its operations.
Although the Company has cash and cash equivalents of $2.8 million
at March 31, 2016, management has estimated that cash on hand will
only be sufficient to allow the Company to continue its operations
through the third quarter of fiscal 2017.  These matters raise
substantial doubt about the Company's ability to continue as a
going concern.


DPTOPCO LLC: U.S. Trustee Unable to Appoint Committee
-----------------------------------------------------
The Office of the U.S. Trustee on Oct. 18 disclosed in a court
filing that no official committee of unsecured creditors has been
appointed in the Chapter 11 case of DPTOPCO LLC.

                       About DPTOPCO LLC

DPTOPCO LLC filed a Chapter 11 bankruptcy petition (Bankr. S.D.
Tex. Case No. 16-34378) on Sept. 2, 2016, disclosing under $1
million in both assets and liabilities. The Debtor is represented
by Daniel C. Keele, Esq., at Keele & Assoc.

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


EKD REALTY: Unsecureds To Get Fully Paid in Five Installments
-------------------------------------------------------------
EKD Realty LLC and Amadeus 140 LLC filed with the U.S. Bankruptcy
Court for the Southern District of New York a disclosure statement
for the Debtors' joint plan of reorganization.

Holders of the allowed Class B4 Unsecured Claims against the Debtor
will receive on the Effective Date, in full satisfaction,
settlement, release and discharge of the allowed Class 4 Unsecured
Claims will receive the full amount of their allowed unsecured
claim in cash, payable in five installments as follows: 20% to be
paid on the Effective Date, 20% to be on the first year anniversary
of the Effective Date; 20% to be on the second year anniversary of
the Effective Date; 20% to be paid on the third year anniversary of
the Effective Date; and 20% to be paid on the fourth year
anniversary of the Effective Date.

Funding for the Plan will be from the available cash on hand on the
Confirmation Date, the contribution amount, and the funds to be
generated (with respect to the Amadeus property, after it is
rehabilitated) from the operation of the Reorganized Debtors'
business post-Confirmation.  The contribution amount will be paid
on or before the Effective Date, and will be used to pay certain of
the creditors' claims under this Plan, including, but not limited
to, payment of administrative claims, bankruptcy fees, tax claims
and the unsecured creditors' claims.

The Disclosure Statement is available at:

            http://bankrupt.com/misc/nysb16-11957-23.pdf

                       About EKD Realty LLC

EKD Realty LLC filed a Chapter 11 petition (Bankr. S.D.N.Y. Case
No. 16-11957) on July 8, 2016.  The petition was signed by
Haroutiun Derderian, member.  The Debtor is represented by Arnold
Mitchell Greene, Esq., at Robinson Brog Leinwand Greene Genovese &
Gluck, P.C.  The case is assigned to Judge Shelley C. Chapman.  The
Debtor disclosed total assets at $9 million and total liabilities
at $4.84 million.


ENERGY STORAGE: Involuntary Chapter 11 Case Summary
---------------------------------------------------
Alleged Debtor: Energy Storage & Trading, L.L.C.
                   aka Happy Jack's Petroleum, Inc.
                   aka Wade Hill
                   aka Vicki Hill
                   aka Kimberly Hill
                   aka Jackie Hill
                1000 South State Street
                Brule, NE 69127

Case Number: 16-41573

Involuntary Chapter 11 Petition Date: October 18, 2016

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

Judge: Hon. Thomas L. Saladino

Petitioner's Counsel: Adam A. Hoesing, Esq.
                      SIMMONS OLSEN LAW FIRM, P.C.
                      1502 Second Avenue
                      Scottsbluff, NE 69361
                      Tel: (308) 632-3811
                      Fax: (308) 635-0907
                      E-mail: ahoesing@simmonsolsen.com

   Petitioner                  Nature of Claim  Claim Amount
   -----------                 ---------------  ------------
   Western Terminal             Fuel Provided      $695,249
   Transportation, L.L.C.
   P.O. Box 2066
   Scottsbluff, NE 69363-2066
   Tel: 308-635-7374


ERICKSON INCORPORATED: Further Amends Wells Fargo Credit Agreement
------------------------------------------------------------------
Erickson Incorporated entered into Amendment Number Nineteen to the
Credit Agreement with Wells Fargo Bank, National Association,
Deutsche Bank Trust Company Americas, and HSBC Bank USA, National
Association, which modified the required level of borrowing
capacity to be maintained, known as "Excess Availability," to the
following:

  * $10 million for the period from July 25, 2016 through August
    29, 2016;

  * $13 million for the period from August 30, 2016 through
    October 17, 2016;

  * $17.5 million for the period from October 18, 2016 through
    October 31, 2016; and

  * $20 million for the period from November 1, 2016 through
    December 31, 2016.

A full-text copy of the Amendment Number Nineteen to Credit
Agreement is available for free at https://is.gd/dvSjsq

                       About Erickson Inc.

Erickson Incorporated and its subsidiaries and affiliated companies
are a global provider of aviation services.  The Company owns,
operates, maintains and manufactures utility aircraft to transport
and place people and cargo around the world for commercial and
governmental entities, with three distinct reportable segments
consisting of Commercial Aviation Services, Global Defense and
Security, and Manufacturing and Maintenance, Repair and Overhaul.
Through its Commercial Aviation Services and Global Defense and
Security segments, the Company provides aerial services that
include critical supply and logistics for firefighting, timber
harvesting, infrastructure construction, deployed military forces,
humanitarian relief, and crewing. Through its Manufacturing and MRO
segment, the Company provides manufacturing and maintenance, repair
and overhaul services for certain aircraft, as well as aircraft
sales.

As of June 30, 2016, Erickson Incorporated had $584 million in
total assets, $558 million in total liabilities and $25.9 million
in total equity.

Erickson reported a net loss of $86.6 million in 2015 following a
net loss of $10.2 million in 2014.

                        *    *     *

The Company carries a 'CCC' corporate credit rating from S&P Global
Ratings and a 'Caa3' corporate family rating from Moody's Investors
Service.


ESPRESSO DREAM: Taps DelBello Donnellan as Attorneys
----------------------------------------------------
Espresso Dream LLC seeks authorization from the U.S. Bankruptcy
Court for the Southern District of New York to employ DelBello
Donnellan Weingarten Wise & Wiederkehr, LLP, as Attorneys, nunc pro
tunc as of the September 30, 2016 petition date.

The Debtor requires DelBello Donnellan to:

     (a) give advice to the Debtor with respect to its powers and
duties as Debtor-in-Possession and the continued management of its
property and affairs;

     (b) negotiate with the creditors of the Debtor and work out a
plan of reorganization and take the necessary legal steps in order
to effectuate such a plan including, if need be, negotiations with
the creditors and other parties in interest;

     (c) prepare the necessary answers, orders, reports and other
legal papers required for the Debtor’s protection from its
creditors under Chapter 11 of the Bankruptcy Code;

     (d) appear before the Bankruptcy Court to protect the interest
of the Debtor and to represent the Debtor in all matters pending
before the Court;

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

     (f) advise the Debtor in connection with any potential sale of
its assets;

     (g) represent the Debtor in connection with obtaining
post-petition financing, if necessary;

     (h) take any necessary action to obtain approval of a
disclosure statement and confirmation of a plan of reorganization;
and,

     (i) perform all other legal services for the Debtor which may
be necessary for the preservation of the Debtor's estates and to
promote the best interests of the Debtor, its creditors and its
estates.

DelBello Donnellan will be paid at these hourly rates:

         Attorneys               $375 - $595
         Paraprofessionals       $150

DelBello Donnellan received a third-party pre-petition retainer
from Moshe Maman on behalf of the Debtor, in conjunction with the
filing of this Chapter 11 case in the amount of $22,000.00.

Jonathan S. Pasternak, Esq., a partner at DelBello Donnellan,
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.

DelBello Donnellan can be reached at:

         Jonathan S. Pasternak, Esq.
         Julie Cvek Curley, Esq.
         DELBELLO DONNELLAN WEINGARTEN WISE & WIEDERKEHR, LLP
         One North Lexington Avenue
         White Plains, NY 10601
         Tel: (914) 681-0200

             About Espresso Dream LLC

Espresso Dream LLC filed a Chapter 11 petition (Bankr. S.D. N.Y.
Case No.: 16-12749) on September 30, 2016, and is represented by
Jonathan S. Pasternak, Esq., in White Plains, New York.

At the time of filing, the Debtor had $1 million to $10 million in
estimated assets and $500,000 to $1 million in estimated
liabilities.

The petition was signed by Moshe Maman, manager.

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

A full-text copy of the petition is available for free at:
http://bankrupt.com/misc/nysb16-12749.pdf


EWT HOLDINGS: S&P Affirms 'B' CCR, Outlook Remains Stable
---------------------------------------------------------
S&P Global Ratings said that it affirmed its 'B' corporate credit
rating on U.S.-based water treatment technology, equipment, and
services provider EWT Holdings III Corp.  The outlook remains
stable.

At the same time, S&P affirmed its 'B' issue-level rating and '3'
recovery rating on the company's first-lien credit facilities,
including the proposed $150 million incremental first-lien term
loan.  The '3' recovery rating indicates S&P's expectation for
meaningful recovery (lower half of the 50%-70% range) in the event
of a payment default.

The affirmation reflects S&P's view that the proposed incremental
leverage that the company will assume upon close of the transaction
does not meaningfully impair EWT's financial risk profile.  S&P
estimates leverage will increase to the high-6x area from about
6.1x for the 12 months ended June 30, 2016.  However, S&P expects
the company's debt to EBITDA to strengthen to about 6x in 2017 on
EBITDA growth from recent acquisitions and cost savings.

S&P's rating also incorporates its belief that EWT will remain
acquisitive and continue to fund acquisitions with a combination of
debt and cash on hand.  S&P has also factored EWT's
financial-sponsor ownership into S&P's analysis and its belief that
such owners frequently seek to increase the leverage of the
companies they own, at times through acquisitions or dividend
payouts.

"We believe EWT will maintain its relatively modest scale of
operations with some geographic concentration, partially offset by
its good position (No. 1 in the U.S., its largest geographic
market) in the fragmented water treatment equipment and services
market.  EWT serves cyclical industrial and municipal water
treatment end markets.  About 60% of the company's revenue is
generated from its services business (demand for its services tends
to be more stable than demand for original equipment) because it
has a large installed base of customers that require ongoing plant
maintenance.  We expect the company to continue to incur
restructuring costs in 2016 and 2017, and have incorporated these
costs into our profitability measures," S&P said.

S&P's base-case scenario includes these assumptions:

   -- U.S. real GDP expands by 1.5% in 2016 and 2.4% in 2017;
   -- The company's revenues grow slightly faster than U.S. GDP in

      2016, aided by the company's expanded salesforce and
      acquisition of Neptune Benson;
   -- Organic revenue grows relatively in line with U.S. GDP in
      2017;
   -- EBITDA margins, including restructuring costs, of about 10%-
      11% in 2016 and rising to about 12% in 2017 because of
      improvements in the company's product mix, cost savings, and

      contributions from higher-margin Neptune Benson; and
   -- Sizeable working capital outflows in 2016, which S&P expects

      will largely reverse in 2017.

Based on these assumptions, S&P arrives at these adjusted credit
measures:

   -- Debt to EBITDA in the high-6x area in 2016 before improving
      to about 6x in 2017;
   -- Funds from operations (FFO) to debt of 10%-12% in 2016 and
      2017;
   -- No expected meaningful free cash flow generation in 2016,
      although S&P believes the company will generate free cash
      flow of $25 million or more in 2017.

S&P believes that EWT's liquidity will be adequate following the
proposed incremental term loan and expect that the company's
liquidity sources will be more than 1.2x its uses over the next 12
months.  S&P also believes that the company's net liquidity sources
would remain positive even if its EBITDA declines by 15%. S&P
believes that the qualitative factors relating to the company's
liquidity--such as its ability to absorb high-impact, low
probability events with limited need to refinance, its generally
prudent risk management, and its sound relationships with its
banks--all support S&P's adequate assessment.

Principal liquidity sources:

   -- Ample availability under its revolving credit facility;
   -- About $47 million in cash as of June 30, 2016;
   -- About $60 million-$100 million in annual funds from
      operations; and
   -- Proceeds from the incremental $150 million first-lien term
      loan.

Principal liquidity uses:

   -- Capital expenditures of about $40 million-$50 million
      annually;
   -- Intra-year working capital of up to $40 million-$45 million;

      and
   -- $75 million to repay the second-lien term loan.

Covenants

The revolver is subject to a springing maximum total net leverage
ratio covenant that goes into effect when utilization exceeds 25%
of the facility commitment.  S&P expects the company will maintain
at least 15% headroom under this covenant over the next 12 months.

Despite expected debt to EBITDA in the high-6x area in 2016, the
stable outlook on EWT reflects S&P's expectation that the company
will reduce its leverage to about 6x or below through increased
profitability and EBITDA growth from recent acquisitions over the
next 12 months.

S&P could lower its ratings on EWT if the company's end markets
weaken, operating costs are higher than we expect, or if EWT
completes meaningful acquisitions causing its forecast leverage to
exceed 6.5x for an extended period of time.  S&P could also lower
its ratings if the company doesn't generate positive free cash flow
and its liquidity becomes a concern.

S&P could raise its ratings on EWT if S&P expects the company to
maintain a debt leverage metric of less than 5x.  This could occur
if the company experiences strong revenue growth, improves its
EBITDA margins, and uses its free cash flow for debt reduction.
Concurrently, S&P would also need to believe that the company
commits to making financial policy decisions that would allow it to
maintain its leverage metric below 5x.


EXTRACTION OIL: S&P Raises Corporate Credit Rating to 'B' on IPO
----------------------------------------------------------------
S&P Global Ratings said that it raised the corporate credit rating
on Denver, Co.-based oil and natural gas company Extraction Oil &
Gas Holdings LLC to 'B', and assigned its 'B' corporate credit
rating to Extraction Oil & Gas Inc.

At the same time, S&P raised its issue-level ratings on the
company's $550 million senior unsecured notes to 'B' based on a '4'
recovery rating, indicating S&P's expectation for average (in the
lower half of the 30% to 50% range) recovery in the event of a
payment default.  The rating outlook is stable.

"Our rating action follows the Bayswater acquisition, which
increased the company's production and reserves, and Extraction's
successful IPO, which strengthens the balance sheet and positions
the company to expand production and reserves further in 2017 and
beyond.  Extraction expanded production by about 8,000 barrels of
oil equivalent per day (boe/d) over the past 12 months excluding
the Bayswater acquisition, and we expect the company will
accelerate its expansion in 2017.  In our view, the Bayswater
acquisition leads to a moderate improvement in the company's size,
as it acquired daily production of approximately 10,000 barrels of
boe/d. Pro forma for the acquisition, the company has daily
production of approximately 40,000 boe/d and proved reserves of
approximately 197 million (mm) boe.  Given the improvement in the
company's scale, along with what we expect to be less imminent
regulatory risk than when we initially assigned the ratings, we no
longer apply a negative comparable rating analysis modifier," S&P
said.

The ratings on Extraction reflect the company's vulnerable business
risk profile as a relatively small and narrowly focused company
with a limited track record and a high proportion of proved
undeveloped reserves, as well as an aggressive financial risk
profile, as a primarily financial sponsor-owned entity.  S&P
continues to view the company as financial sponsor-owned after the
IPO, given that financial sponsors continue to hold approximately
50% of the company, which in S&P's view increases the risk of the
company levering the balance sheet.  The company's reserves and
production are solely concentrated in the Wattenberg Field, and S&P
views the limited diversity as exposing the company to regional
risks including regulatory risk and potential infrastructure
capacity constraints.  Partly offsetting these factors are the
company's low breakeven costs and high proportion of liquids.

S&P's assessment of Extraction's vulnerable business risk profile
reflects the company's small size and its geographic concentration
in the Wattenberg Field of the DJ Basin.  With proved undeveloped
reserves concentration of about 75%, S&P expects capital investment
to remain high in order to convert reserves into production.  S&P
views the geographic concentration in the Wattenberg as a risk
factor given that the region is less developed as compared to more
established regions.  On the regulatory front, recent measures in
the Colorado state ballot referendum process that would have
adversely affected oil and gas companies were unsuccessful, but S&P
continues to see uncertainty in Colorado's regulatory environment
as similar measures could be introduced in future years.

S&P's assessment of aggressive financial risk takes into account
the company's primarily financial sponsor ownership, and the
expectation that the company will continue to generate negative
free cash flow given high capital spending requirements.  S&P
expects the company will continue to outspend cash flows to drive
growth, and that credit metrics will gradually improve.  At the
current rating, S&P expects the company to maintain funds from
operations (FFO) to debt above 12%.

S&P's base case assumes:

   -- S&P Global Rating's price deck assumptions for West Texas
      Intermediate (WTI) crude oil of $42.50 per barrel (bbl) for
      2016, $45/bbl in 2017, and $50/bbl in 2018, and $55/bbl
      thereafter.  S&P Global Rating's price deck assumptions for
      Henry Hub natural gas of $2.50 per million British thermal
      unit (mmBtu) for 2016, $2.75/mmBtu in 2017, and $3.00/mmBtu
      thereafter.

   -- Production growth of 20% to 40% annually in 2017 and 2018.  
      Capital spending of between $450 million and $550 million
      over the next two years.  Assumed crude oil price
      differential of $6 to $7/bbl discount to WTI and natural gas

      price differential of $0.35 negative $0.50 per thousand
      cubic feet.

The stable outlook reflects S&P's expectation that Extraction will
continue to expand production as it develops its reserves in the
Wattenberg basin while maintaining solid profitability and adequate
liquidity.  S&P expects that the company will maintain credit
measures that S&P considers appropriate for the current rating,
including FFO to debt above 12%.

S&P could lower the rating over the next 12 months if the company
is unable to expand production as currently forecasted and
significantly outspends cash flows.  If this were to happen, S&P
expects that liquidity could deteriorate, and credit measures could
weaken below FFO to debt of 12%.  S&P could also lower the rating
if leverage substantially increased from large debt-funded
acquisitions, or if unanticipated regulatory restrictions hinder
the company's operations.

S&P could raise the rating over the next 12 months if the company
continues to expand production and reserves, and utilizes a
material portion of cash flows to reduce leverage.  S&P' could also
consider an upgrade if financial sponsor ownership is reduced
through secondary offerings such that total financial sponsor
ownership declined below 40%.  At that level, S&P could expect
reduced risk of the company levering the balance sheet.  In order
to consider an upgrade based on improved financial risk, S&P would
also need to believe that leverage metrics above 20% FFO to debt
are sustainable.



FIRST DATA: Incurs US$4.27 Billion & EUR 154 Million Term Loans
---------------------------------------------------------------
First Data Corporation entered into a 2016 October Joinder
Agreement relating to its Credit Agreement, dated as of Sept. 24,
2007, as amended, among the Company, the several lenders from time
to time parties thereto and Credit Suisse AG, Cayman Islands
Branch, as administrative agent.

Pursuant to the Joinder Agreement, the Company incurred an
aggregate principal amount of:

    (i) approximately $4.27 billion in new U.S. dollar denominated
        term loans maturing on March 24, 2021; and

   (ii) approximately EUR 154 million in new euro denominated term
        loans maturing on March 24, 2021.  

The interest rate applicable to the 2021 New Term Loans is a rate
equal to, at the Company's option, either (a) LIBOR plus 300 basis
points or (b) solely with respect to the 2021C New Dollar Term
Loans, a base rate plus 200 basis points.  The Company used the
proceeds from the incurrence of the 2021 New Term Loans to
refinance all of its existing U.S. dollar denominated term loans
and euro denominated term loans maturing on March 24, 2021.

                       About First Data

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

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

As of June 30, 2016, First Data had $34.2 billion in total assets,
$30.4 billion in total liabilities, $74 million in redeemable
non-controlling interest, and $3.74 billion in total equity.

                          *     *     *

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


FLOWORKS INTERNATIONAL: S&P Affirms 'CCC+' CCR, Outlook Negative
----------------------------------------------------------------
S&P Global Ratings said it affirmed its corporate credit rating on
Houston-based Floworks International LLC at 'CCC+'.  S&P also
revised the outlook to negative from stable.

At the same time, S&P affirmed its issue-level rating on the
company's senior secured notes due 2019 at 'CCC+'.  The recovery
rating on the notes remains '4', which indicates S&P's expectation
for average (30% to 50%; at the lower end of the range) recovery in
the event of a conventional default.

"The negative outlook reflects our expectation that Floworks will
generate larger FOCF deficits over the next 12 months, which will
likely pressure liquidity further, potentially leading to a lower
rating," said S&P Global Ratings credit analyst Michael Maggi.  "We
expect the company to have negative adjusted EBITDA through 2017."

S&P could lower its ratings on Floworks if S&P envisioned a
specific default scenario to be likely within the next 12 months
without an unforeseen positive development.  Possible scenarios
include a near-term liquidity crisis, a violation of financial
covenants, or the possibility of a distressed exchange offer or
redemption.

S&P could revise the outlook to stable if the company were to
generate positive EBITDA or FOCF, potentially leading to an
adequate liquidity assessment.  This would likely be predicated on
a pick-up in demand, helped by a sustained rebound in the oil and
gas sector, and an increase in capital spending by upstream
companies.  Additionally, S&P could consider an upgrade if the
company sustained stronger credit metrics including adjusted debt
to EBITDA notably below 10x, EBITDA interest coverage above 1.25x
and adequate liquidity -- a scenario S&P views as unlikely over the
next 12 months.


FOUR DIA: Has Approval to Use CapitalSpring Cash Collateral
-----------------------------------------------------------
Judge Harlin DeWayne Hale of the U.S. Bankruptcy Court for the
Northern District of Texas authorized Four Dia, LLC to use
CapitalSpring SBLC, LLC's cash collateral through October 15,
2016.

CapitalSpring was granted with replacement liens to the extent of
any diminution in the value of the prepetition collateral or the
net loss of cash collateral used by the Debtor, and a superpriority
expense claim to the extent that the replacement liens are found by
the Court to be insufficient to provide CapitalSpring with adequate
protection.

The approved Budget provides for total operating expenses of
$31,741.58, covering the period beginning October 1, 2016 and
ending on October 17, 2016.

A final hearing on the Debtor's use of cash collateral is scheduled
for Oct. 19, 2016 at 9:00 a.m.  The deadline for the filing of
objections to the Debtor's use of cash collateral is set on Oct.
10, 2016.

A full-text copy of the Second Agreed Order dated October 11, 2016,
is available at http://tinyurl.com/jcsw65l

                          About Four Dia, LLC                      


Four Dia, LLC, filed a chapter 11 petition (Bankr. N.D. Tex. Case
No. 16-33459-11) on Sept. 2, 2016.  The petition was signed by
Sagar Ghandi, vice president.  The Debtor is represented by Russell
W. Mills, Esq., at Hiersche, Hayward, Drakeley & Urbach, P.C.  The
case is assigned to Judge Harlin DeWayne Hale.  The Debtor
estimated assets and liabilities at $1 million to $10 million at
the time of the filing.

Four Dia was formed on October 8, 2014 as a Texas limited liability
company and continues to operate using that corporate structure.
It operates a 62-room hotel located at 5750 Sherwood Way in San
Angelo, Texas which is operated under a Wyndham Hotel Group
franchise.  Four Dia employs approximately 16 persons on a full or
part-time basis.


FTE NETWORKS: Files Copy of Investor Presentation with SEC
----------------------------------------------------------
FTE Networks, Inc., furnished the Securities and Exchange
Commission a copy of an investor presentation which will be
provided to the investment community, a copy of which is available
for free at https://is.gd/R7Pres

                      About FTE Networks

FTE Networks, formerly known as Beacon Enterprise Solutions Group,
Inc., is a vertically integrated company with an international
footprint.  Since its inception, FTE Networks has steadily
advanced its management, operational and technical capabilities to
become a leading provider of services to the telecommunications
and wireless sector with a focus on turnkey solutions.  FTE
Networks provides a comprehensive array of services centered on
quality, efficiency and customer service.

FTE Networks reported a net loss attributable to common
shareholders of $3.63 million on $14.4 million of revenues for the
year ended Sept. 30, 2015, compared to net income of $436,000 on
$16.9 million of revenues for the year ended Sept. 30, 2014.

As of June 30, 2016, FTE Networks had $9.69 million in total
assets, $19.95 million in total liabilities, $437,380 in total
temporary equity, and a total stockholders' deficiency of
$10.7 million.


FUNCTION(X) INC: Presented at SeeThruEquity Conference
------------------------------------------------------
Birame N. Sock, the president and chief operating officer, and
Julie Gerola, the chief marketing officer, of Function(x) Inc.
presented at the 2016 SeeThruEquity Fall Microcap Investor
Conference on Monday, Oct. 17, 2016.  A copy of the presentation is
used at the conference is available at goo.gl/aTYE2K

                       About Function(x)Inc.

Function(x)Inc., formerly known as DraftDay Fantasy Sports Inc.,
offers a high quality daily fantasy sports experience directly to
consumers and to businesses desiring turnkey solutions to new
revenue streams.  DraftDay Fantasy Sports Inc. is the largest
shareholder of DraftDay Gaming Group, with a 44% stake.  Sportech
owns 35%.  By combining and capitalizing on the well-established
operational business assets of DraftDay and Sportech, the new
DraftDay is well-positioned to become a significant player in the
explosive fantasy sports market.  DraftDay has paid out over $30
million in prizes with increased player retention and brand
loyalty.  DraftDay Fantasy Sports also operates MyGuy and Viggle
Football both of which offer real-time interactive participation
with professional and college football games; Wetpaint, which
offers entertainment and celebrity news; and Choose Digital, a
digital marketplace platform that allows companies to incorporate
digital content into existing rewards and loyalty programs in
support of marketing and sales initiatives.

"The Company is unlikely to generate significant revenue or
earnings in the immediate or foreseeable future.  The continuation
of the Company as a going concern is dependent upon the continued
financial support from its stockholders, the ability of the Company
to obtain necessary equity or debt financing to continue
development of its business and to generate revenue.  Management
intends to raise additional funds through equity and/or debt
offerings until sustainable revenues are developed.  There is no
assurance such equity and/or debt offerings will be successful and
therefore there is substantial doubt about the Company's ability to
continue as a going concern within one year after the financial
statements are issued," according to the Company's quarterly report
for the period ended Dec. 31, 2015.

As of March 31, 2016, DraftDay had $32.4 million in total assets,
$48.6 million in total liabilities, $12.5 million in series C
convertible redeemable preferred stock and a $28.6 million total
stockholders' deficit.


GERALD DEVER: Nov. 8 Hearing to Approve Disclosure Statement
------------------------------------------------------------
Gerald Patrick Dever will return to the Bankruptcy Court in
Baltimore, Md., on Nov. 8, 2016, to seek approval of the disclosure
statement explaining his Chapter 11 Plan.

The Debtor filed a Disclosure Statement and Plan on September 16,
2016.

Oct. 24, 2016, is fixed as the last day for filing and serving in
accordance with Federal Bankruptcy Rule 3017(a) written objections
to the Disclosure Statement.

As reported by the Troubled Company Reporter on Sept. 30, 2016,
Dever's Plan proposes to pay unsecured claims over a 60-month
period.  The Disclosure Statement relates that unsecured claims of
Portfolio Recovery Associates and AAS Debt Recovery Inc. are
unimpaired; while the unsecured claims of Sosnoski Associates,
Timco Ltd., and Jerry Thompson are impaired.  The claim amounts
range from $500 to $150,000.

The Debtor is presently employed by and a part owner of BG
Petroleum LLC.  BG Petroleum is a fully integrated oil distributor
and retailer for Exxon and Sunoco.  Difficulties that BG Petroleum
encountered in its business also affected the Debtor's finances,
and prompted him to file for bankruptcy.

The Disclosure Statement reveals that BG Petroleum's business has
improved since then and the Debtor's pay has increased and will be
constant rather than intermittent.  Given these improvements, the
Debtor is confident he will have the resources to pay his
creditors.

A full-text copy of the Disclosure Statement dated Sept. 16, 2016
is available at http://bankrupt.com/misc/mdb16-13325-31.pdf

Counsel to Gerald Dever is:

        Michael Coyle  
        The Coyle Law Group
        6700 Alexander Bell Drive, Ste 200
        Columbia, MD 21046
        Tel: 410-884-3180, 410-884-3181
        E-mail: mcoyle@thecoylelawgroup.com

Gerald Patrick Dever sought bankruptcy protection (Bankr. D. Md.
Case No. 16-13325) on March 15, 2016.


GLOBAL HOUGHTON: S&P Affirms 'B' CCR, Outlook Negative
------------------------------------------------------
S&P Global Ratings affirmed all ratings on Global Houghton Ltd.,
including its 'B' corporate credit rating.  The outlook is
negative.

"We based the negative outlook on our assessment of the company's
weaker than previously expected operating performance in 2015, and
our expectation that operating results will continue to remain
challenged through 2016," said S&P Global Ratings credit analyst
Michael McConnell.  "The weakened performance in 2015 was primarily
driven by negative foreign currency impact, lower pricing, and
restructuring charges, he added.

S&P's negative outlook also reflects its view that there is a risk
that operating performance could further weaken in the next 12
months, resulting in credit measures weaker than what S&P would
expect at the current rating.  As a result, S&P now believes there
is at least a one-third chance of a negative rating action in the
next 12 months.  S&P believes that management will continue to
maintain a prudent approach to funding growth and shareholder
rewards.  S&P also expects management to be proactive in obtaining
covenant relief if covenant compliance continues to be a risk.
Although S&P expects 2016 debt to EBITDA could reach above 7x, it
expects weighted average debt to EBITDA to be at or below 7x.  S&P
also believes that management will be proactive in extending the
December 2017 maturity of its revolving credit facility.

S&P could lower the rating within the next couple of quarters if a
decline in volumes without offsetting cost reductions or
improvements to raw material margins results in credit measures
deteriorating to levels weaker than what S&P would expect at the
current rating.  S&P could lower the ratings if weighted average
debt to EBITDA weakened to above 7x on a sustained basis. Liquidity
deterioration or aggressive financial policy decisions could lead
to similar credit measures, which could lead S&P to a downgrade.
S&P could also lower ratings if it expects covenant compliance to
continue to be a risk, without management being proactive in
obtaining covenant relief.  Additionally, S&P could downgrade the
company if it don't expect management to extend the maturity of its
revolving credit facility in a timely manner.

S&P could revise its outlook to stable from negative within the
next couple of quarters if an improvement in EBITDA resulted in
strengthened credit measures.  To revise the outlook to stable, S&P
would expect weighted average debt to EBITDA to remain below 7x on
a sustainable basis.  To consider an outlook revision, S&P would
also expect management to continue to maintain a prudent approach
to funding growth and shareholder rewards.  S&P would also expect
the company to improve liquidity to a level S&P considers adequate,
obtain covenant relief if covenant compliance continues to be a
risk, and extend the maturity of its revolving credit facility in a
timely manner.



GLOYD GREEN: Sale of Midway Cabin to West for $414K Approved
------------------------------------------------------------
Judge Kevin R. Anderson of the U.S. Bankruptcy Court for the
District of Utah authorized Gloyd W. Green to sell the cabin
property located at 5132 North Larkspur Road, Midway, Utah, to
Terry West for $414,000.

The sale is free and clear of all liens and encumbrances.

The Debtor is  authorized to pay at closing of the sale to the
Buyer all applicable commissions and closing costs and title fees
associated with the transaction and customary in the industry,
including without limitation a realtor's commission to Kathy
Collings and the firm of Berkshire Hathaway Home Services Utah in
the amount of 6% of the selling price. The Debtor is also
authorized to pay at closing all accrued and pro-rated real estate
taxes and other assessments that are owing as of the date of the
closing.

All remaining proceeds of sale will be delivered by the title
company to the Seller for immediate deposit by the Debtor into a
segregated reorganized debtor account ("Plan Payment Account") at
Zions Bank, to be held in the Plan Payment Account until further
order of the Court on motion of the Estate Representative, the
Debtor, or the Class A-3 Secured Creditor, in accordance with the
Debtor's Amended Plan of Reorganization dated Feb. 24, 2016.

The 14-day stay otherwise imposed by Bankruptcy Rule 6004(h) is
waived and the closing of the sale may occur at any time after
entry of the Order.

Gloyd W. Green sought Chapter 11 protection (Bankr. D. Utah Case
No. 15-25181) on June 3, 2015.


GM OILFIELD: Can Use Cash Collateral on Interim Basis
-----------------------------------------------------
Judge H. Christopher Mott of the U.S. Bankruptcy Court for the
Western District of Texas authorized GM Oilfield & Trucking
Services, LLC, doing business as GM Trucking, to use cash
collateral on an interim basis.

Judge Mott authorized the Debtor to use the revenues generated by
its business operations and reflected by its Accounts Receivable,
subject to the security interests and/or tax liens of:

     (1) Commercial State Bank on cash collateral and personal
property, pursuant to a prepetition Equipment Loan; and

     (2) United States of America, Internal Revenue Service,
pursuant to a prepetition Federal Tax Lien.

The approved Budget provided for total expenses in the amount of
$253,922.

The Debtor is indebted to Commercial State Bank in the amount of
$830,818, and the IRS in the amount of $883,505.

The Debtor was directed to make monthly adequate protection
payments to Commercial State Bank in the amount of $6,250, and to
the IRS in the amount of $4,500.

The Secured Creditors were granted replacement liens equal to their
prepetition liens.

A final hearing on the Debtor's Motion is scheduled on Nov. 10,
2016 at 10:00 a.m.  The deadline for the filing of objections to
the Debtor's Motion is set on Nov. 3, 2016.

A full-text copy of the Order, dated Oct. 14, 2016, is available at

http://bankrupt.com/misc/GMOilfield2016_1631581hcm_19.pdf

Commercial State Bank is represented by:

          Randall L. Rouse, Esq.
          LYNCH, CHAPPELL & ALSUP
          The Summit, Suite 700
          300 North Marienfeld
          Midland, TX 79701-4345
          Telephone: (432) 683-3351
          E-mail: rrouse@lcalawfirm.com

           About GM Oilfield & Trucking Services

GM Oilfield & Trucking Services, LLC, doing business as GM
Trucking, filed a chapter 11 petition (Bankr. W.D. Tex. Case No.
16-31581) on Oct. 5, 2016.  The petition was signed by George
Magallanes, manager.  The Debtor is represented by Carlos A.
Miranda, III, Esq., at Miranda & Maldonado, P.C.  The case is
assigned to Judge Christopher H. Mott.  The Debtor estimated assets
at $500,000 to $1 million and liabilities at $1 million to $10
million at the time of the filing.


GOD'S UNIVERSAL: U.S. Trustee Unable to Appoint Committee
---------------------------------------------------------
The Office of the U.S. Trustee on Oct. 18 disclosed in a court
filing that no official committee of unsecured creditors has been
appointed in the Chapter 11 case of God's Universal Kingdom
Christian Church, Inc.

                 About God's Universal Kingdom

God's Universal Kingdom sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Md. Case No. 16-21952) on Sept. 6, 2016.
The petition was signed by Jennifer Robinson, treasurer.  

The case is assigned to Judge Wendelin I. Lipp.

At the time of the filing, the Debtor disclosed $2.66 million in
assets and $924,570 in liabilities.


GREAT BASIN: Citadel Stake Down to 0.1% as of Oct. 6
----------------------------------------------------
In a Schedule 13G filed with the Securities and Exchange
Commission, Citadel Securities LLC, CALC III LP, Citadel GP LLC and
Mr. Kenneth Griffin disclosed that as of Oct. 6, 2016, they
beneficially own 13,248 shares of common stock of Great
Basin Scientific, Inc., representing less than 0.1% of the shares
outstanding.  A full-text copy of the regulatory filing is
available for free at goo.gl/vJBfz8

                      About Great Basin

Great Basin Scientific is a molecular diagnostic testing company
focused on the development and commercialization of its patented,
molecular diagnostic platform designed to test for infectious
disease, especially hospital-acquired infections.  The Company
believes that small to medium sized hospital laboratories, those
under 400 beds, are in need of simpler and more affordable
molecular diagnostic testing methods.  The Company markets a system
that combines both affordability and ease-of-use, when compared to
other commercially available molecular testing methods, which the
Company believes will accelerate the adoption of molecular testing
in small to medium sized hospitals.  The Company's system includes
an analyzer, which it provides for its customers' use without
charge in the United States, and a diagnostic cartridge, which the
Company sells to its customers.

Great Basin reported a net loss of $57.9 million in 2015 following
a net loss of $21.7 million in 2014.

As of June 30, 2016, Great Basin had $26.09 million in total
assets, $87.07 million in total liabilities and a total
stockholders' deficit of $60.98 million.

Mantyla McReynolds, LLC, in Salt Lake City, Utah, issued a "going
concern" opinion in its report on the consolidated financial
statements for the year ended Dec. 31, 2015, citing that the
Company has incurred substantial losses from operations causing
negative working capital and negative operating cash flows.  These
issues raise substantial doubt about its ability to continue as a
going concern.


GREAT BASIN: Enters Into Amended Leak-Out Agreements
----------------------------------------------------
Great Basin Scientific, Inc., entered into separate agreements with
certain buyers.  In each Amended Leak-Out Agreement, the Company
and a Buyer agreed that during the period commencing on Oct. 17,
2016, through and including Oct. 21, 2016, neither that Buyer nor
any of its affiliates will sell, directly or indirectly, on any
trading day more than a fixed percentage (as designated in such
Leak-Out Agreement, which, in the aggregate for all Buyers, equals
approximately 40%) of the trading volume of the Company's common
stock on the Nasdaq Capital Market, unless our common stock is then
trading above the lower of (x) $5.50 or (y) 120% of the closing bid
price of our common stock as of the trading day immediately
preceding that date of determination.

                       About Great Basin

Great Basin Scientific is a molecular diagnostic testing company
focused on the development and commercialization of its patented,
molecular diagnostic platform designed to test for infectious
disease, especially hospital-acquired infections.  The Company
believes that small to medium sized hospital laboratories, those
under 400 beds, are in need of simpler and more affordable
molecular diagnostic testing methods.  The Company markets a system
that combines both affordability and ease-of-use, when compared to
other commercially available molecular testing methods, which the
Company believes will accelerate the adoption of molecular testing
in small to medium sized hospitals.  The Company's system includes
an analyzer, which it provides for its customers' use without
charge in the United States, and a diagnostic cartridge, which the
Company sells to its customers.

Great Basin reported a net loss of $57.9 million in 2015 following
a net loss of $21.7 million in 2014.

As of June 30, 2016, Great Basin had $26.09 million in total
assets, $87.07 million in total liabilities and a total
stockholders' deficit of $60.98 million.

Mantyla McReynolds, LLC, in Salt Lake City, Utah, issued a "going
concern" opinion in its report on the consolidated financial
statements for the year ended Dec. 31, 2015, citing that the
Company has incurred substantial losses from operations causing
negative working capital and negative operating cash flows.  These
issues raise substantial doubt about its ability to continue as a
going concern.


GRIMMWAY ACADEMY: S&P Assigns 'BB+' Rating on 2016 A&B School Bonds
-------------------------------------------------------------------
S&P Global Ratings assigned its 'BB+' long-term rating to
California School Finance Authority's charter school revenue bonds
series 2016A (tax-exempt) and 2016B (taxable), issued for Grimmway
Academy. The outlook is stable.

"The rating reflects our view of the group's positive funding
environment and strong demand," said S&P Global Ratings credit
analyst Jean Lee.  "The rating further reflects our view of the
group's expected strong surplus in fiscal 2016," Ms. Lee added.

Two schools supported by the Grimm Family Education Foundation
secure the bonds ("the obligated group" or Grimmway-Arvin and
Grimmway-Shafter).  Currently, the charter management organization
(CMO) operates only the obligated group, though we note Grimmway
could expand to additional schools in the future and create new
members.

Grimm Family Education Foundation was founded in 2011 to provide
educational opportunities to underserved communities.  The
foundation currently provides support to two edible schoolyards and
Grimmway Academy-Arvin.  The Academy formed in 2010 as a California
nonprofit public benefit corporation and a kindergarten to eighth
grade (K‐8) charter school located in Kern County, Calif.



HALCON RESOURCES: Agrees to Pay $430K to Lead Plaintiffs' Counsel
-----------------------------------------------------------------
As previously disclosed, the members of the board of directors of
Halcon Resources Corporation and HALRES LLC were named last year as
defendants in three putative class action lawsuits brought in the
Delaware Court of Chancery by shareholders of the Company
challenging the approval of the issuance of additional shares of
the Company's common stock to HALRES upon conversion of its 8.0%
senior convertible note and the exercise of its warrants.  

The 8.0% senior convertible note and warrants have since been
cancelled pursuant to the Amended Joint Prepackaged Plan of
Reorganization of Halcon Resources Corporation, et al. under
Chapter 11 of the Bankruptcy Code, which was approved by the United
States Bankruptcy Court for the District of Delaware on Sept. 8,
2016, and became effective on Sept. 9, 2016.  The complaints
generally alleged, among other things, that the members of the
Company's board of directors breached their fiduciary duties to
shareholders of the Company by recommending that the stockholders
approve the issuance of the additional shares.  On April 7, 2015,
the court consolidated the lawsuits into a single action captioned
In re Halcon Resources Corporation Stockholder Litigation, C.A. No.
10849 and appointed lead plaintiffs and lead counsel.  On April 14,
2015, lead plaintiffs filed a motion for a preliminary injunction
seeking to enjoin the stockholder vote on Proposal 4 of the
Company's Definitive Proxy Statement on Schedule 14A filed on April
2, 2015.  On April 24, 2015, lead plaintiffs determined to withdraw
that motion in view of the supplemental disclosures made in the
Company's Form 8-K filing on April 24, 2015.  On July 13, 2016, the
Delaware Court of Chancery approved a stipulation under which lead
plaintiffs voluntarily dismissed the action with prejudice only as
to the plaintiffs in the action.  The Court retained jurisdiction
solely for the purpose of adjudicating lead plaintiffs' counsel's
anticipated application for an award of attorneys' fees and
reimbursement of expenses.  

The Company subsequently agreed to pay $430,000 to lead plaintiffs'
counsel in full satisfaction of their claim for attorneys' fees and
expenses in the action.  The Court of Chancery has not been asked
to review, and will pass no judgment on, the payment of a fee or
its reasonableness.


                     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.

Halcon Resources completed its financial restructuring and emerged
from its pre-packaged Chapter 11 bankruptcy cases on Sept. 9,
2016.  All of the conditions under its Plan of Reorganization,
which was confirmed by the US Bankruptcy Court for the District of
Delaware on Sept. 8, 2016, have been satisfied or otherwise waived
in accordance with the terms of the Restructuring Plan.


HARSCO CORP: S&P Assigns 'BB' Rating on Proposed $950MM Facilities
------------------------------------------------------------------
S&P Global Ratings assigned its 'BB' issue-level rating and '2'
recovery rating to Harsco Corp.'s proposed $950 million senior
secured credit facilities (which comprise a $400 million revolver
due 2021 and a $550 million term loan due 2023).  The '2' recovery
rating reflects S&P's expectation for substantial recovery
(70%-90%; upper half of the range) in the event of a payment
default. Upon the closing of the new credit facilities, the company
intends to amend and extend its existing credit facilities, redeem
its existing 5.75% senior notes due 2018 (in accordance with the
indenture governing such notes), and pay related fees and
expenses.

All of S&P's other ratings on Harsco remain unchanged.

S&P's 'BB-' corporate credit rating on Harsco reflects S&P's
expectation that a modest stabilization in key commodity prices
will enable the company to reduce its leverage to the mid- to
high-3x range over the next 12-18 months.

                          RECOVERY ANALYSIS

   -- S&P assigned its 'BB' issue-level rating and '2' recovery
      rating to the company's proposed senior secured credit
      facilities, which comprise a $400 million revolver due 2021
      and a $550 million term loan due 2023.

   -- S&P's analysis incorporates the company's proposed repayment

      and refinancing of its existing senior unsecured notes due
      2018.

   -- The recovery rating on Harsco Corp.'s senior unsecured notes

      reflects the notes' position in terms of claims, coupled
      with S&P's simulated value at default, which incorporates
      the company's strong positions in key markets and its fair
      geographic diversity.

   -- The '2' recovery rating on the proposed secured facilities
      indicates S&P's expectation for meaningful (70%-90%; upper
      half of the range) recovery for lenders in the event of a
      payment default.

   -- S&P valued the company based on an enterprise value
      approach.  The gross emergence enterprise value of
      $967 million is based on an emergence EBITDA of $161 million

      and a valuation multiple of 6x.

Simulated default and valuation assumptions:

   -- S&P Global's simulated default scenario contemplates
      sustained weak global macroeconomic conditions that lead to
      weakness in the company's key markets, particularly the
      metal and mining and industrial end markets.  This, together

      with the company's high fixed capital requirements to
      support its business, may lead to an ongoing cash flow
      shortfall.  During a period of declining revenue and margin
      contraction, S&P anticipates that these factors combined
      would likely impair Harsco's cash flow generation, erode its

      liquidity, and ultimately lead to a payment default in 2020.

      In addition, S&P expects that the risks related to the
      company's transformation of its business model will bring
      uncertainty to its earnings in the near term.

   -- The revolver is 85% drawn at the time of default; and

   -- For purposes of estimating claims under the revolving credit

      facility, S&P assumes a LIBOR rate of 3.5% in its default
      year and a spread of about 5%.

Simplified waterfall

   -- Net enterprise value (after 5% admin. costs): $919 million
   -- Valuation split (obligors/nonobligors): 38%/62%
   -- Priority claims: $39 million
   -- Value available to first-lien debt claims
      (collateral/noncollateral): $728 million/$0
   -- Secured first-lien debt claims: $904 million
      -- Recovery expectations: 70-90% (upper half of the range)
   -- Total value available to unsecured claims: $199.4 million
   -- Senior unsecured debt claims: $248.6 million
   -- Recovery expectations: 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.

RATINGS LIST

Harsco Corp.
Corporate Credit Rating        BB-/Stable/--

New Ratings

Harsco Corp.
Senior Secured
  $400M Revolver Due 2021       BB
   Recovery Rating              2H
  $550M Term Loan Due 2023      BB
   Recovery Rating              2H



HOUSTON PROPERTY: Case Summary & 2 Unsecured Creditors
------------------------------------------------------
Debtor: Houston Property, LLC
        2705 E. Houston Ave
        Gilbert, AZ 85234

Case No.: 16-11947

Chapter 11 Petition Date: October 18, 2016

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

Judge: Hon. Eddward P. Ballinger Jr.

Debtor's Counsel: Blake D Gunn, Esq.
                  LAW OFFICE OF BLAKE D. GUNN, LLC
                  PO Box 22146
                  MESA, AZ 85277-2146
                  Tel: 480-270-5073
                  E-mail: blake.gunn@gunnbankruptcyfirm.com

Total Assets: $980,000

Total Liabilities: $1.04 million

The petition was signed by Mackenzie Randall, member.

A copy of the Debtor's list of two unsecured creditors is available
for free at http://bankrupt.com/misc/azb16-11947.pdf


IDERA PHARMACEUTICALS: Pillar Pharma Has 19.9% Stake as of Oct. 13
------------------------------------------------------------------
In an amended Schedule 13D filed with the Securities and Exchange
Commission, Pillar Pharmaceuticals I, L.P., Pillar Pharmaceuticals
II, L.P., Pillar Pharmaceuticals III, L.P., Pillar Pharmaceuticals
IV, L.P., Pillar Pharmaceuticals V, L.P., Pillar Invest
Corporation, and Youssef El Zein disclosed that as of Oct. 13,
2016, they beneficially own 29,253,114 shares of common stock of
Idera Pharmaceuticals, Inc., representing 19.9 percent of the
shares oustanding.  A full-text copy of the regulatory filing is
available for free at goo.gl/n9FJnw

                        About Idera

Cambridge, Massachusetts-based Idera Pharmaceuticals, Inc., is a
clinical stage biotechnology company engaged in the discovery and
development of novel synthetic DNA- and RNA-based drug candidates
that are designed to modulate immune responses mediated through
Toll-like Receptors, or TLRs.  The Company has two drug
candidates, IMO-3100, a TLR7 and TLR9 antagonist, and IMO-8400, a
TLR7, TLR8, and TLR9 antagonist, in clinical development for the
treatment of autoimmune and inflammatory diseases.

Idera reported a net loss of $48.6 million in 2015 following a net
loss of $38.6 million in 2014.

As of June 30, 2016, Idera had $69.2 million in total assets, $8.18
million in total liabilities and $61.04 million in total
stockholders' equity.


ILYA GOLUB: Second Amended Disclosure Statement Filed
-----------------------------------------------------
Ilya and Simona Golub delivered to the Hon. Jack B. Schmetterer's
chambers on Oct. 4, 2016, a Second Amended Disclosure Statement for
their Amended Plan of Reorganization dated Sept. 2.

Among other things, the Plan contemplates that the Debtors will:

     -- retain their Residence and continue to make payments to
CitiMortgage and US Bank in accordance with the existing loan
terms.

     -- retain the Debtors' Vehicles and continue to make payments
to the Holders of the Allowed Claims secured by the Debtors'
Vehicles in accordance with the existing loan terms, including
Ally, Fifth Third, Daimler and Nissan.

     -- make a pro rata distribution to Holders of Allowed
Unsecured Claims within 60 days after the Effective Date of the
Plan.

     -- retain all unliquidated real and Personal property.

     -- obtain discharges from all Claims and obligations arising
prior to the Effective Date upon completion of the Plan.

The Debtors estimate there are approximately 29 Unsecured Creditors
with Claims totaling $577,683.  Holders of Allowed Class 7 Claims
will be paid their pro rata portion of $35,000 in Cash in a single
distribution made within 60 days of the Effective Date of the Plan.
Holders of Allowed Class 7 Claims will receive a distribution of
approximately 6%.  The Cash used to pay Class 7 Claims will come
from the Debtors' otherwise exempt retirement account.  These
Claims are impaired are entitled to vote on the Plan.

A copy of the Second Amended Disclosure Statement is available at:

          http://bankrupt.com/misc/ilnb16-10968-0042.pdf

                         About The Golubs

Ilya Golub and Simona Golub, a married couple residing in Lake
County, work as IT director and pharmacist, respectively.  The
Debtors sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. N.D. Ill. Case No. 16-10968) on March 30, 2016.  The
Debtors are represented by William J. Factor, Esq. and Ariane
Holtschlag, Esq., at FactorLaw as counsel.


IMMUCOR INC: Incurs $10.1 Million Net Loss in Aug. 31 Quarter
-------------------------------------------------------------
Immucor, Inc., filed with the Securities and Exchange Commission
its quarterly report on Form 10-Q disclosing a net loss of $10.10
million on $98.59 million of net sales for the three months ended
Aug. 31, 2016, compared to a net loss of $7.21 million on $96.71
million of net sales for the three months ended Aug. 31, 2015.

As of Aug. 31, 2016, Immucor had $1.69 billion in total assets,
$1.36 billion in total liabilities and $336.1 million in total
equity.

The Company's principal source of liquidity is its operating cash
flow, which is expected to be positive on an annual basis.  This
cash-generating capability is one of the Company's fundamental
strengths and provides the Company with substantial financial
flexibility in meeting its operating, investing and financing
requirements.

In the first three months of fiscal year 2017, the Company's cash
and cash equivalents decreased by $0.6 million to $9.7 million as
of Aug. 31, 2016.  The decrease was primarily due to cash used by
operating activities of $17.2 million, by investing activities of
$3.0 million, as well as repayments of the Company's long-term debt
of $1.7 million in the first three months of fiscal year 2017.
These decreases in cash and cash equivalents were partially offset
by cash provided from net borrowings of $21.0 million from our
Revolving Facilities.  The cash balance at Aug. 31, 2016, includes
cash of $8.0 million that is held by its subsidiaries outside of
the United States.  The Company is not permanently reinvested in
its subsidiaries and can repatriate these funds, if needed, to
support future debt payments.

In the first three months of fiscal year 2016, the Company's cash
and cash equivalents increased by $0.7 million to $19.0 million as
of Aug. 31, 2015.  The increase was primarily due to net borrowings
from our Revolving Facility of $16.0 million partially offset by
$7.9 million of cash used in operating activities, $5.8 million
used in investing activities, and $1.7 million used for repayments
of its long-term debt.

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

                        goo.gl/dJBe2X

                        About Immucor

Founded in 1982, Immucor, Inc., a Georgia corporation, is a
worldwide leader in the transfusion and transplantation in vitro
diagnostics markets.  The Company's products perform typing and
screening of blood and organs to ensure donor-recipient
compatibility.  The Company's offerings are targeted at hospitals,
donor centers and reference laboratories around the world.

Immucor reported a net loss of $43.8 million on $380 million of net
sales for the year ended May 31, 2016, compared to a net loss of
$60.7 million on $389 million of net sales for the year ended May
31, 2015.

                           *    *    *

As reported by the TCR on June 23, 2016, S&P Global Ratings lowered
its corporate credit rating on Immucor Inc. to 'CCC+' from 'B'.
The outlook is stable.  "The rating downgrade follows Immucor's
continued operating underperformance over the past three quarters,
with an especially pronounced decline in the third quarter of
fiscal 2016," said S&P Global Ratings credit analyst Maryna
Kandrukhin.

The TCR report on March 31, 2016, that Moody's Investors Service
downgraded the ratings of Immucor, including the Corporate
Family Rating (CFR) to 'Caa1' from 'B3'.


IMPORTANT PROPERTIES: $6.5-Mil. Property Sale Approved
------------------------------------------------------
Judge Robert D. Drain of the U.S. Bankruptcy Court for the Southern
District of New York authorized Important Properties, LLC, to sell
its nonresidential real property and improvements thereon located
at 8 Industrial Lane, New Rochelle, New York to 32 North Street
Realty, LLC, for $6,500,000 in the form of a credit bid.

A sale confirmation hearing was held on Sept. 29, 2016.

The sale is free and clear of all liens and claims.

An auction was conducted by the Debtor and AuctionAdvisors, LLC, on
Sept. 28, 2016.  The Purchaser's original bid in the amount of
$6,500,000 was accepted by the Debtor as the successful bid, with
Purchaser the successful bidder, after no other bids were made and
there were no reserve or backup bids made or accepted.

The sale of the property and assignment of the lease pursuant to
the APA is approved in all respects.

All of the 14-day stays of the Order under the Federal Rules of
Bankruptcy Procedures are waived.

                    About Important Properties

Important Properties, LLC, sought Chapter 11 protection (Bankr.
S.D.N.Y. Case No. 15-22123) on Jan. 28, 2015.  The petition was
signed by John Meskunas, manager.

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

Erica Feynman Aisner, Esq., and Jonathan S. Pasternak, Esq., at
DelBello, Donnellan Weingarten Wise & Wiederkehr, LLP, serve as the
Debtor's counsel.

The Debtor has continued in possession of its property and the
management of its business affairs as a debtor-in-possession.  No
Official Committee of Unsecured Creditors has been appointed.  No
trustee or examiner has been appointed.


IMPORTANT PROPERTIES: Plan Confirmation Hearing on Nov. 7
---------------------------------------------------------
Important Properties, LLC, filed with the Bankruptcy Court for the
Southern District of New York its First Amended Disclosure
Statement and First Amended Chapter 11 Liquidating Plan dated
October 4, 2016.

The Court has approved the Disclosure Statement as containing
adequate information to enable parties affected by the Plan to make
an informed judgment about its terms.  A hearing at which the Court
will determine whether to confirm the Plan will take place on Nov.
7, 2016 at 10:00 a.m., before the Honorable Robert D. Drain, U.S.
Bankruptcy Judge, in Courtroom 118, at the United States Bankruptcy
Court, Southern District of New York, 300 Quarropas Street, White
Plains, New York, New York 10601.

Plan votes are due Oct. 31, 2016 at 5:00 p.m. (Eastern Time).

Confirmation objections are also due Oct. 31.

During the Chapter 11 Case, the Debtor engaged in an auction sale
process by which it is selling its real property and lease with its
tenant to 32 North Realty, LLC, the Debtor's secured creditor and
whose principal is also the principal of the tenant.  The purchase
price is $6,500,000.  

According to the Debtor, the purchase price, together with the
Debtor's Cash on hand, is expected to yield a 100% recovery to all
allowed unclassified and classified creditors with a return to
equity.

The auction was held on Sept. 28, 2016, and the results approved at
a hearing before the Court on Sept. 29.

Under the Plan, the Debtor shall pay to holder of Class 3 General
Unsecured Claims up to 100% of the amount of their Allowed Claim in
full, without interest, and in Cash within 30 days of the later of
the Effective Date or the Sale Closing Date from the Plan
Distribution Fund, after distribution to all unclassified,
Administrative, Class 1 and 2 Claims and the Post-Confirmation
Reserve, in full and final satisfaction of its Claims as against
the Debtor.  To the extent that there are insufficient monies in
the Plan Distribution Fund to effectuate a 100% distribution to
Class 3 Claims on account of their Allowed Claims, holders of Class
3 Claims shall share in the distribution on a Pro Rata basis.  The
Debtor estimates these Claims to total $25,000.  Class 3 Claims are
Impaired under the Plan and are allowed to vote on the Plan.

Important Properties, LLC, owns a commercial property located at 8
Industrial Avenue, New Rochelle, New York.  The Property consists
of a commercially zoned building currently occupied by Peter Friend
Motorcycles, LLC.  The Tenant has recently entered into a "triple
net" 5-year lease with the Debtor as landlord, with three 5-year
extension options thereon.

A copy of the Disclosure Statement dated Oct. 4, 2016, is available
at:

          http://bankrupt.com/misc/nysb15-22123-0067.pdf

                    About Important Properties

Important Properties, LLC, sought Chapter 11 protection (Bankr.
S.D.N.Y. Case No. 15-22123) on Jan. 28, 2015.  The petition was
signed by John Meskunas, manager.

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

Erica Feynman Aisner, Esq. and Jonathan S. Pasternak, Esq., at
DelBello, Donnellan Weingarten Wise & Wiederkehr, LLP serve as the
Debtor's counsel.

The Debtor has continued in possession of its property and the
management of its business affairs as a debtor-in-possession.  No
official committee of unsecured creditors has been appointed.  No
trustee or examiner has been appointed.


INFOBLOX INC: S&P Assigns 'B-' CCR; Outlook Stable
--------------------------------------------------
S&P Global Ratings assigned its 'B-' corporate credit rating to
Delta Holdco LLC, the parent company of Santa Clara, Calif.-based
Infoblox Inc.  The outlook is stable.

At the same time, S&P assigned its 'B-' issue-level rating and '3'
recovery rating to the company's $550 million first-lien credit
facility, consisting of a $50 million revolving credit facility due
2021 and a $500 million first-lien term loan due 2023.  The '3'
recovery indicates S&P's expectation of meaningful (50%-70%; lower
half of range) recovery for the first-lien debt holders in the
event of default.  S&P also assigned a 'CCC' issue-level rating and
'6' recovery rating to the company's $250 million second-lien term
loan due 2024.  The '6' recovery indicates S&P's expectation of
negligible (0%-10%) recovery for the second-lien debt holders in
the event of default.

The borrowers on the debt are Infoblox and India Merger Sub Inc.

"The rating on Delta Holdco LLC reflects our view of Infoblox's
operations in the small, fragmented, and somewhat volatile network
automation market, partly offset by its leading market position and
maintenance retention rates in 90% area," said S&P Global Ratings
credit analyst Geoffrey Wilson.

The stable outlook reflects S&P's expectation that Infoblox will
maintain its leadership position in the DDI market and continue to
increase its subscription-based offerings in DDI and DNS security
while generating positive free operating cash flow.


INTER123 CORP: U.S. Trustee Unable to Appoint Committee
-------------------------------------------------------
The Office of the U.S. Trustee on Oct. 18 disclosed in a court
filing that no official committee of unsecured creditors has been
appointed in the Chapter 11 case of Inter123 Corporation.

Inter123 Corporation sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Nev. Case No. 16-12076) on April 15,
2016.  The petition was signed by Jeffrey Peterson, chief executive
officer and chairman.  

At the time of the filing, the Debtor estimated assets of less than
$100,000 and liabilities of less than $500,000.


IRENE STACY COMMUNITY: Hires Wally Yaracs as Auctioneer
-------------------------------------------------------
Irene Stacy Community Mental Health Center seeks authorization from
the U.S. Bankruptcy Court for the Western District of Pennsylvania
to employ Wally Yaracs of Yaracs Family Auction and Appraisal
Service as auctioneer.

The Debtor requires the Auctioneer to conduct a public auction for
the contents of the Debtor's building and all maintenance equipment
located at 112 Hillvue Drive, Butler, Pennsylvania 16001.

The Auctioneer will be paid at 12% professional fee to the
Auctioneer from the proceeds of sale, along with reimbursement of
promotional expenses not to exceed $600.

The Auctioneer will be reimbursed for his Commission and
promotional expenses from the proceeds of the sale of the personal
property.

Wally Yaracs, member of Yaracs Family Auction and Appraisal
Service, assured the Court that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code and does not represent any interest adverse to the Debtors and
their estates.

The Auctioneer can be reached at:

         Wally Yaracs
         YARACS FAMILY AUCTION AND APPRAISAL SERVICE
         490 Herman Rd
         Butler, PA 16002
         Phone: (724) 285-1372

            About Irene Stacy

Irene Stacy Community Mental Health Center sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. W.D. Pa. Case No.
15-24605) on December 18, 2015. The petition was signed by Brent
Olean, Board president.  

The Debtor is represented by Allison L. Carr, Esq., at
Bernstein-Burkley, P.C. The case is assigned to Judge Thomas P.
Agresti.

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


ISAAC'S AUTOMOTIVE: Allowed to Use Hope Enterprise Cash Collateral
------------------------------------------------------------------
Judge Katharine M. Samson of the U.S. Bankruptcy Court for the
Southern District of Mississippi, in the Agreed Interim Order dated
Oct. 14, 2016, authorized Isaac's Automotive, Inc. to use Hope
Enterprise Corporation's cash collateral, pursuant to the
Stipulation between the Debtor and Hope Enterprise, until Oct. 7,
2016.

The Debtor is indebted to Hope Enterprise in the original principal
amount of $321,570.  The Debtor granted Hope Enterprise a
first-priority security interest in, among other things, all of the
Debtor's accounts receivable.

The Debtor was collecting and using Hope Enterprise's cash
collateral without gaining the consent of Hope Enterprise or
authorization from the Court.  Hope Enterprise previously filed a
motion seeking to prohibit the Debtor from using its cash
collateral.

The Debtor wanted to continue using Hope Enterprise's cash
collateral in order to make post-petition payroll payments and to
make expenditures necessary to continue operating the Debtor’s
business.  The Debtor contended that its access to sufficient
working capital and liquidity through the use of cash collateral
under the terms of the Agreed Order is vital to the preservation
and maintenance of the going-concern value of the Debtor’s
estate, the orderly operation of the Debtor’s business and,
ultimately, the success of the Bankruptcy Case.

Hope Enterprise was granted a replacement lien and adequate
protection priority claims.  The adequate protection priority
claims were senior in priority to all other adequate protection
claims.

A full-text copy of the Order, dated Oct. 14, 2016, is available at

http://bankrupt.com/misc/IsaacsAutomotive2016_1650695_77.pdf

Hope Enterprise Corporation is represented by:

          William H. Leech, Esq.
          Sarah Beth Wilson, Esq.
          Christopher H. Meredith, Esq.
          Timothy J. Anzenberger, Esq.
          COPELAND, COOK, TAYLOR & BUSH, P.A.
          P.O. Box 6020
          Ridgeland, MS 39158
          Telephone: (601) 856-7200
          E-mail: bleech@cctb.com
                  sbwilson@cctb.com
                  cmeredith@cctb.com
                  tanzenberger@cctb.com
        
                       About Isaac's Automotive

Isaac's Automotive, Inc., filed a Chapter 11 bankruptcy petition
(Bankr. S.D. Miss. Case No. 16-50695) on April 26, 2016.  The case
is assigned to Judge Katharine M Samson presides over the case.
The petition was signed by William Isaac Pittman, owner.  The
Debtor is represented by David L. Lord, Esq., at David L. Lord and
Associates, P.A. The Debtor estimated assets and liabilities at
$100,001 to $500,000 at the time of the filing.


JEANETTE GUTIERREZ: $57K Sale of San Antonio Property Approved
--------------------------------------------------------------
Judge Craig A. Gargotta of the U.S. Bankruptcy Court for the
Western District of Texas authorized Jeanette M. Gutierrez to sell
the real property located at 4215 Shelton Drive, San Antonio,
Texas, more particularly described as Lot 43, Block 4, New City
Block 12631, Fairfield Manor, recorded in the Real Property Records
of Bexar County, Texas, to Alicia Gonzales for $57,000.

The sale is free and clear of all liens and interests, except for
ad valorem taxes.

The ad valorem tax lien pertaining to the subject property will
attach to the sales proceeds and that the closing agent/Debtor will
pay all ad valorem tax debt owed incident to the subject property
immediately upon closing and prior to any disbursement of proceeds
to any other person or entity.

The ad valorem taxes for year 2016 pertaining to the subject
property will be prorated in accordance with the Earnest Money
Contract and will become the responsibility of the Purchaser and
the 2016 ad valorem tax lien will be retained against the subject
property until said taxes are paid in full.

The Order is not stayed pursuant to Bankruptcy Rule 6004(g).

                   About Jeanette M. Gutierrez

Jeanette M. Gutierrez and her spouse own and operate a couple of
businesses San Antonio, Texas, including GP Auto Sales, Inc., which
is involved in used car sales; Gutierrez P. Enterprises, LLC, which
owns and rents several residual rental properties in San Antonio,
Texas; and FCRE, Inc.

Jeanette M. Gutierrez sought Chapter 11 protection (Bankr. W.D.
Tex. Case No. 15-52100g) on Aug. 31, 2015.

The Debtor tapped David T. Cain, Esq. at Law Office of David T.
Cain, as counsel.


JOAQUIN SILER: Stainsbys Buying Oil Fields Property for $90K
------------------------------------------------------------
Joaquin Bernard Siler asks the U.S. Bankruptcy Court for the
District of Columbia to authorize the sale of real property located
at 6751 High Knob Road, Old Fields, West Virginia ("Land") to
Joseph R. and Leiloni M. Stainsby for $89,500, subject to higher
and better offers.

The Land is largely undeveloped mountain-side property with a
single aged small residence located thereon.  It is unencumbered by
any liens, mortgage deed of trust, security interest or otherwise,
and, so far as is known to the Debtor, there are no taxes, utility
bills, or state or county assessments remaining unpaid with respect
to the Land.

The Debtor concluded that the sale of the Land would be of
particular value to the administration of this estate and the
confirmation of his extant Chapter 11 Plan of Reorganization.

The Debtor identified and selected brokers to retain for the
purpose of locating, negotiating with, and concluding a sales
agreement with prospective buyer(s) for the Land. The "Brokers" --
whose retention is the subject of a separate application seeking
approval thereof under Section 327 of the Bankruptcy Code -- are
Roxanne Helmick and Central Realty, Inc., who have an office at 116
N. Main Street, Bloomfield, West Virginia, and are familiar with
the Land as well as the sale of properties similar to the Land in
this area of West Virginia.

The Brokers were engaged to perform, and -- in anticipation of the
ultimate approval of their retention -- have been performing these
services: (a) marketing the Land for sale; (b) negotiating with
prospective purchasers, and (c) procuring a written offer for the
Land to be considered by the Debtor and subject to the approval of
the Court.

The Brokers have obtained a written offer for the Land ("Contract")
from the Buyers, for the sum of $89,500, all of which (less the
deposit made thereunder and being held by the Brokers presently)
will be paid to the Debtor at closing on said Contract. It appears
to the Debtor that the Buyers are ready, willing and able to close
on the Contract, on the timeline set forth in the Contract.

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

       http://bankrupt.com/misc/Joaquin_Siler_138_Sales.pdf

The Purchasers can be reached at:

          Joseph R. and Leiloni M. Stainsby
          6219 Edison Dr.
          Alexandria, VA 22310
          Telephone: (703) 508-6960
          E-mail: lailonioakes@hotmail.com

Counsel for the Trustee:

          Jeffrey M. Sherman, Esq.
          LAW OFFICES OF JEFFREY M. SHERMAN
          1600 N. Oak Street, Suite 1826
          Arlington, VA 22209
          Telephone: (703) 855-7394
          E-mail: jeffreymsherman@gmail.com

Joaquin Bernard Siler sought Chapter 11 protection (Bankr. D.D.C.
Case No. 15-00246) on May 1, 2015.


JOBO'S INC: Nov. 29 Plan Confirmation Hearing
---------------------------------------------
Judge James R. Sacca of the U.S. Bankruptcy Court for the Northern
District of Georgia on October 13, 2016, conditionally approved the
disclosure statement explaining the Chapter 11 plans proposed by
Jobo's Inc., Robert Wayne Hamill, Jr., and John Joseph Molinari,
and scheduled a hearing at 1:30 p.m., on November 29, 2016, to
consider any objections to the Disclosure Statement and to consider
confirmation of the Plans.

November 22 is fixed as the last day for filing written acceptances
or rejections of the Plans and the last day for filing objections
to the final approval of the Disclosure Statement.

Mr. Molinari has filed a motion to extend the time for confirmation
of the Plan and Judge Sacca approved the request and extended the
time within which the Debtor's Plan may be confirmed through and
including December 29.

Under Jobo's Plan, holders of Class 1 general unsecured claims will
receive a distribution of 60% of their allowed claims.  On the
Effective Date of the Plan, each of Messrs. Hamill and Molinari
will transfer $25,000 to the Debtor.  On the first calendar day of
the first calendar month after the Effective Date of the Plan, the
Debtor will distribute $100,000 ($50,000 from the Debtor plus
$25,000 from each of Messrs. Hamill and Molinari) on a pro rata
basis to the Class 1 creditors holding allowed claims.  The Debtor
will then pay from its ongoing operating revenue a pro rata share
of $5,000 permonth starting on the first calendar day of the second
calendar month after the Effective Date of the Plan and on the like
day of each month, all until each Class 1 creditor receives 60% of
its respective court-allowed claim amount.

Under Mr. Molinari's Plan, Class 2 - Non-Insider General Unsecured
Claims, in the aggregate amount of approximately $640,000, are
impaired, and will be paid under Jobo's plan of reorganization and
will receive no payment under the Molinari Plan.  Each of the
Debtor will transfer $25,000 to Jobo's to be used by Jobo's towards
payment of these claims.

Under Mr. Hamill's Plan, Class 7 - General Unsecured Creditors,
which include Ashley Funding Services, in the aggregate amount of
approximately $17,961.12, are impaired, and will be paid a pro rata
share of all of the Debtor's projected disposable income for a
five-year period from the Effective Date of the Plan forward.  

                     About Jobo's Inc.

Jobo's Inc., has operated an Atlanta nightclub called BJ Roosters
since 2006.  John Joseph Molinari is a co-owner of Jobo's, Inc.,
along with Robert Wayne Hamill, Jr., from which he draws a salary.
Messrs. Molinari and Hamill co-own the real estate on which BJ
Roosters operates its busines.

Jobo's, Inc., filed for Chapter 11 bankruptcy protection (Bankr.
N.D. Ga. Case No. 15-73919) on Dec. 16, 2015, estimating its assets
at between $50,001 and $100,000 and liabilities at between $500,001
and $1 million.  Paul Reece Marr, Esq., at Paul Reece Marr, P.C.,
serves as the Debtor's bankruptcy counsel.

Jobo's, Inc.'s case is jointly administered with Robert Wayne
Hamill, Jr. (Bankr. N.D. Ga. Case No. 15-73920) and John Joseph
Molinari (Bankr. N.D. Ga. Case No. 15-73922).  Jobo's is the lead
case.


JUDSON COLLEGE: S&P Affirms 'BB+' Rating on 2010 Revenue Bonds
--------------------------------------------------------------
S&P Global Ratings revised its outlook to stable from negative and
affirmed its 'BB+' rating on Educational Building Authority of the
City of Marion, Ala.'s series 2010 revenue bonds, issued for Judson
College.

"The revised outlook reflects our view of the college's stabilizing
enrollment levels, improved matriculation for fall 2016, and trend
of breakeven to positive operating performance, which we expect the
college to sustain for fiscal years 2016 and 2017," said S&P Global
Ratings analyst Avani Parikh.  "In addition, while the college has
increased its reliance on lines of credit to support its working
capital needs in recent years, we expect these borrowings to
moderate substantially over the near-term as the result of
successful fundraising efforts and stable operations."

The stable outlook reflects S&P's expectation that over the next
year, the college will maintain, if not grow, enrollment,
operations will remain close to breakeven, and financial resource
measures will not deteriorate significantly.  In addition, S&P
expect the college to moderate its borrowings on short-term lines
of credit.

Deficit operations, a notable decrease in financial resources from
current levels, significantly reduced support from the Alabama
State Convention without a replacement revenue source, any further
enrollment declines, or a weakening of the college's demand profile
could result in a negative rating action during the one-year
outlook period.  Moreover, any additional long- or short-term debt
not supported by commensurate financial resource growth could
negatively pressure the rating.

In S&P's view, a positive rating action is unlikely over the
one-year outlook period given the college's very high debt burden,
balance sheet metrics, and only recently stabilized enrollment.



KEMPER CORPORATION: Fitch Affirms 'BB' Subordinated Notes Rating
----------------------------------------------------------------
Fitch Ratings has affirmed Kemper Corporation's (Kemper) holding
company ratings, including the senior debt rating at 'BBB-'. Fitch
has also affirmed the Insurer Financial Strength (IFS) ratings of
Kemper's operating subsidiaries at 'A-'. The Rating Outlook is
Stable.

KEY RATING DRIVERS

Kemper's property/casualty (P/C) ratings reflect a recent
deterioration in earnings, solid balance sheet strength, and
sufficient debt servicing capability. The ratings also consider the
company's more volatile earnings profile caused by natural
catastrophe exposures. Kemper has a strong business profile that is
consistent with the company's IFS rating. The company has a midsize
competitive position and competes with several considerably larger
personal lines insurers. In addition, Kemper has announced
underwriting and claims initiatives aimed at improving
profitability over the next several years.

Kemper's life/health segment (United Insurance Co. of America and
its subsidiaries) ratings reflect its continued stable underlying
earnings, solid capitalization, and effective niche in the home
service market, albeit a slow-growth market. The group has been a
steady source of capital for Kemper, with dividend capacity to
support parent objectives. Fitch views United's ratings as limited
by its small size and scale relative to larger, national peers.

Kemper reported deterioration in P/C segment operating earnings in
the first half of 2016 (1H16) as results for Alliance United Group
(Alliance United), acquired in 2015, were pressured by increased
frequency and severity trends. Consolidated net operating income
declined to $4 million in 1H16, down from $28.5 million in the
prior year.

Kemper reported a GAAP mid-year 2016 calendar-year combined ratio
that increased to 109.0%, up from 103.7 in 1H15. Calendar-year
underwriting results deteriorated largely as the result of
increased losses at Alliance United along with higher incurred
catastrophe losses. Kemper reported catastrophe losses of $86.6
million (10.8% of earned premium) in 1H16, due primarily to two
hailstorms in Texas, up from $45.7 (7.2% of earned premium) million
in the prior year.

Capitalization at the P/C operating company level scored 'Strong'
on Fitch's proprietary capital model, Prism, based on year-end 2015
data, which is considered consistent with Kemper's 'A-' IFS rating.
Other measures of capital strength also suggest Kemper is strongly
capitalized. NAIC risk-based capital (RBC) for Kemper's legacy P/C
subsidiaries was 322% of the company action level at year-end 2015.
RBC for Kemper's lead life insurance company, United Insurance Co.
of America, was approximately 359% at year-end 2015.

Financial leverage at June 30, 2016 was 29.7% and remains within
median guidelines for the current rating category. GAAP
fixed-charge coverage dropped to 1.0x in 1H16 and 2.6x for
full-year 2015, largely due to depressed earnings during the year.


During 2016, Kemper's operating subsidiaries are permitted to pay
approximately $154 million in dividends to the parent without prior
regulatory approval, which would cover Kemper's 2016 interest
expense by approximately 3.5x.

Life/Health segment underlying profitability remains strong and
stable, with a return on total adjusted capital of 20% in 1H16. In
3Q16, Kemper will take a $50 million after-tax charge related to
enhancements to its life insurance claim procedures, involving
cross-referencing life insurance policies against the Social
Security Death Master File and other databases. Kemper mentioned in
its recent strategic investor call that it is expecting a $3
million-$3.5 million annual impact on future earnings over the near
term as a result of changing the practice going forward.

RATING SENSITIVITIES

Factors that could lead to an upgrade of Trinity Universal
Insurance Co. and Kemper's holding company ratings include:

   -- Sustained underwriting profit;

   -- GAAP fixed charge coverage at or above 7x.

   -- Maintaining a Prism score of at least 'strong'.

Factors that could lead to a downgrade of Trinity Universal
Insurance Co. include:

   -- Statutory fixed charge coverage below 3.5x;

   -- A combined ratio above 106% for a sustained period;

   -- Deterioration in capitalization with a P/C Prism capital
      model score below 'strong';

   -- RBC for the P/C entities below 200%;

   -- Financial leverage ratio that exceeds 30%.

Factors that could lead to an upgrade for the United Insurance Co.
and its subsidiaries include:

   -- Sustained strong profitability with positive movement in
      Trinity Universal Insurance Co. ratings.

Factors that could lead to a downgrade for the United Insurance Co.
and its subsidiaries include:

   -- A decline in RBC below 300% of the company action level;

   -- A sustained decline in profitability resulting in a return
      on capital below 5%.

FULL LIST OF RATING ACTIONS

Fitch has affirmed the following ratings with a Stable Outlook:

   Kemper

   -- IDR at 'BBB';

   -- $359 million senior notes 6% due 2017 at 'BBB-';

   -- $248 million senior notes 4.35% due 2025 at 'BBB-';

   -- $225 million credit facility at 'BBB-';

   -- $144 million subordinated notes due 2054 at 'BB'.

   Trinity Universal Insurance Co.
   United Insurance Co. of America
   Union National Life Insurance Co.
   Reliable Life Insurance Co.

   -- IFS rating at 'A-'.


KENNETH ARTHURS: Plan Lacks Financial Info, PA DOR Says
-------------------------------------------------------
The Commonwealth of Pennsylvania, Pennsylvania Department of
Revenue by its Counsel, Senior Deputy Attorney General, Robert C.
Edmundson, Office of Attorney General, objects to the approval of
Disclosure Statement to accompany the Chapter 11 Plan dated Sept.
12, 2016, of debtors Kenneth J. Arthurs and Brenda L. Arthurs.

PA DOR contends there is insufficient financial information set
forth in the Disclosure Statement to assist creditors in
determining whether the Debtors will have sufficient monies to fund
a Plan.  The Debtors have attached a document titled "Projection
Cash Flow Arthurs" which sets forth both historic and projected
income and expenses.  The monthly net cash flows for the periods
August 2015 through August 2017 range from a negative $866 (August
2015) to $1,152 (January 2017).  According to the exhibit, the
historical average monthly cash flow is $276 and the projected
monthly average cash flow is $502.

PA DOR contends that the Debtors' representations are contrary to
11 U.S.C. 1129 (a)(9)(c) which require payment in full with
interest within 60 months of the Petition Date.  As this case was
filed on Nov. 25, 2015, 10 months have already passed leaving the
Debtors only 50 months to pay the claim of the PA DOR.  The time
period over which the claim of the PA DOR may be paid obviously
effects the amount of the required monthly payment.  Other
creditors do not have adequate information to determine Plan
feasibility if the amount of monthly payments needed to pay
priority claims is unknown.

PA DOR has filed an amended Proof of Claim (claim 1-2) in the
amount of $36,940 which consists of a secured claim of $13,360, a
priority claim of $19,958 and an unsecured claim of $3,621.  The
secured claim of $13,360 results from the Debtors' failure to pay
personal income taxes for 1999 and 2000 and is not an obligation of
NCK, Inc.

Counsel to PA DOR:

     Robert C. Edmundson, Esq.
     Senior Deputy Attorney General
     Office of Attorney General
     Manor Complex
     564 Forbes Avenue
     Pittsburgh, PA 15219
     Tel: (412) 565-2575
     E-mail: redmundson@attorneygeneral.gov

As reported by the Troubled Company Reporter on Sept. 30, 2016, the
Arthurs filed with the U.S. Bankruptcy Court for the Western
District of Pennsylvania a disclosure statement to accompany the
Debtors' plan of reorganization dated Sept. 12, 2016.  Under the
Plan, Class 9 General Unsecured Non-Tax Claims -- owed by the
Debtor a total of $81,038 -- and Tax Claims totaling $35,056 will
have a dividend of at least 33%.   Unsecured claimants will each
receive $855 per month starting Dec. 15, 2016, until Dec. 15, 2021.
Payments to some creditors will not be made until conclusion of
the claim objections filed by the Debtor.  If any claims are
determined to be valid, the Debtors will commence making payments
to that creditor and the monthly payment amount to this class will
increase accordingly.  Furthermore, the distribution to unsecured
creditors may increase depending upon the result of the Indiana
County law suit.  Funds for planned payments will be taken from
earnings from the operation of the restaurant business operated by
the Debtors.

A copy of the Disclosure Statement is available at:

          http://bankrupt.com/misc/pawb15-70795-131.pdf

Kenneth J. Arthurs and Brenda L. Arthurs sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. W.D. Pa. Case No.
15-70795) on Nov. 20, 2015.  The case is assigned to Judge Jeffery
A. Deller.

The Debtors operate a business known as NCK, Inc., which is a
Debtor is a separate Chapter 11 Bankruptcy Case.  NCK, Inc.,
operates a bar/restaurant in Indiana, Pennsylvania.  NCK, Inc., and
Kenneth Arthurs also engaged in construction and remodeling of
various buildings in and around Indiana, Pennsylvania.


KLD ENERGY: Liquidation of De Minimis Assets Approved
-----------------------------------------------------
Judge H. Christopher Mott of the U.S. Bankruptcy Court for the
Western District of Texas authorized KLD Energy Technologies, Inc.
to liquidate de minimis and/or expensed assets.

The list of assets to be liquidated attached to the Order is
available for free at:

     http://bankrupt.com/misc/KLD_Energy_237_Order.pdf

Dell Financial Services, LLC ("DFS"), timely filed a limited
objection to the Motion, to the extent that DFS's leased property
was included in the proposed sale.  The Debtor has resolved the
objection with DFS by removing the Dell branded laptops and tablets
from the proposed sale.

Any cash proceeds of the sale of assets are to be escrowed until
further order of the Court.  If any such assets are bartered in
exchange for goods and/or services to be provided to the Debtor,
the Debtor will report such bartering without any resulting
escrow.

                         About KLD Energy

KLD Energy Technologies, Inc., which engages in the engineering,
development, and manufacturing of electric drive systems, sought
Chapter 11 protection (Bankr. W.D. Tex. Case No. 16-10345) in
Austin, Texas, on March 25, 2016.  The case judge is Hon.
Christopher H. Mott.  The Debtor tapped Lynn H. Butler, Esq., at
Husch Blackwell LLP, as counsel.  The Debtor estimated assets and
debt of $10 million to $50 million.


KUNKEL REAL ESTATE: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Kunkel Real Estate Investments, LLC
           aka Flagler Institute for Rehabilitation
        311 Golf Road, Suite 1000
        West Palm Beach, FL 33407

Case No.: 16-24054

Chapter 11 Petition Date: October 18, 2016

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

Judge: Hon. Paul G. Hyman, Jr.

Debtor's Counsel: Brett A Elam, Esq.
                  THE LAW OFFICES OF BRETT A. ELAM, P.A.
                  105 S. Narcissus Avenue, Suite 802
                  West Palm Beach, FL 33401
                  Tel: 561.833.1113
                  Fax: 561-833-1115
                  Email: belam@brettelamlaw.com

Total Assets: $500,000

Total Liabilities: $3.84 million

The petition was signed by Susan M. Kunkel, managing member.

A copy of the Debtor's list of 20 largest unsecured creditors is
available for free at http://bankrupt.com/misc/flsb16-24054.pdf


LANI DIZON: Plan Earmarks $4,800 for $213,000 in Unsecured Claims
-----------------------------------------------------------------
Lani Dizon, a motivational speaker at Zenza Life Sciences, of which
she is a 50% owner, filed a Plan of reorganization and disclosure
statement, which proposes the following classification and
treatment of claims:

     -- Class 1 consists of the Secured Claim of The Bank of New
York Mellon against the Debtor's Investment Property located at
6904 Via Bella Luna Ave., Las Vegas, Nevada.  The Disclosure
Statement says the scheduled Secured Claims total $1,147,975.

Based on the parties' Stipulation RE: Motion to Value Collateral,
"Strip Off" and Modify Rights of Creditor Pursuant to 11 U.S.C.
Sec. 506(a), For Real Property, the Claim is valued at $540,000.
The Secured Claim will incur interest at the contract rate of
3.625%.  The loan will remain impounded for taxes and hazard
insurance.

Any amount of the original Class 1 Secured Claim that is deemed to
be unsecured (approximately $778,829) will be converted to an
Unsecured Claim and paid pro rata with general unsecured
creditors.

Class 1 is an impaired class and the holder of the Class 1 Secured
Claim is entitled to vote to accept or reject the Plan.

     -- Class 2A consists of the Unsecured Claim(s) related to The
Bank of New York Mellon's under-secured first and second liens
against the Debtor's Investment Property located at 6904 Via Bella
Luna Ave., Las Vegas, Nevada.  Class 2A Unsecured Claim is valued
at $778,829.  Upon successful confirmation of the Plan, BoNY
Mellon's Class 2A Unsecured Claims shall be reduced to $0.  Class
2A is an impaired class and holders of Class 2A Unsecured Claims
are entitled to vote to accept or reject the Plan.

     -- Class 2B consists of General Unsecured Creditors of the
Debtor.  All Class 2B Creditors having filed proofs of claims by
April 13, 2016 or deemed to have filed proof of claims, that are
not disputed, contingent, unliquidated, or otherwise approved by
Order of the Court, shall be paid their pro rata portion of $4,800,
to be paid in 48 equal payments of $100, each, commencing on the
13th month following the Effective Date of the Plan.

The Disclosure Statement says the total scheduled Unsecured
Non-Priority Claims total $119,436.  Meanwhile, proofs of claim
asserting $213,440 in unsecured claims have been filed.

The Disclosure Statement also provides that for purposes of
compliance with 11 U.S.C. 1141(5)(A) and subject to Court approval
at the time of discharge, with respect to Class 2B,
". . . completion of all payments under the plan[,]" shall be
deemed to have occurred upon payment to all Class 2B Creditors
their full claim amount.

The Debtor says Class 2B is an unimpaired class and is deemed to
accept the Plan.  As such, Class 2B Creditors are not entitled to
vote to accept or reject the Plan.

     -- Class 3 consists of Ms. Dizon's equity interest.  She will
retain the Investment Property subject to the Stipulation with BoNY
Mellon.

A copy of the Disclosure Statement is available at:

     http://bankrupt.com/misc/nvb15-16804-0045.pdf

Lani Alfaro Dizon filed a Chapter 11 petition (Bankr. D. Nev. Case
No. 15-16804) on
Dec. 9, 2015.


LEE HO CHEN: SNL's Bid to Reopen Ch. 11 Case Denied
---------------------------------------------------
Judge Brian K. Tester of the United States Bankruptcy Court for the
District of Puerto Rico denied Specialized Loan Servicing's motion
to reopen the chapter 11 case of Lee Min Ho Chen.

The bankruptcy case was filed on September 26, 2011, the plan was
confirmed on February 8, 2013, and the final decree was entered,
closing the case, on October 28, 2013.  The Debtor has not yet
received a discharge.

Judge Tester said SNL has not provided the court with any
information as to the specifics of its request.  While SNL's motion
contains the statement "SNL's request to reopen the case relates to
Debtor’s default with the terms of the confirmed plan,"  Judge
Tester held that such sole declaration, in and of itself, is
insufficient for the court to determine whether reopening the case
is necessary.  The judge thus concluded that SNL has not met the
necessary burden of proof.

A full-text copy of Judge Tester's October 13, 2016 order is
available at http://bankrupt.com/misc/prb11-08170-301.pdf

                    About Lee Ho Chen

Lee Ho Chen filed a Chapter 11 bankruptcy petition (Bankr. D.
Puerto Rico Case No. 11-08170 ) on September 26, 2011.


LIME ENERGY: Changes Annual Meeting Record Date Indefinitely
------------------------------------------------------------
Lime Energy Co. changed the record date of its upcoming special
meeting of stockholders, initially scheduled for Nov. 10, 2016,
from Oct. 14, 2016, to a future date that has not yet been
determined, to allow for timely updates to the proxy statement in
connection with the review by the Staff of the Securities and
Exchange Commission of the preliminary proxy statement filed by the
Company on Oct. 7, 2016.

As previously announced, the Company intends to effect a reverse
stock split immediately followed by a forward stock split, for the
purpose of suspending the Company's public company reporting
obligations.  The proposed amendments to the Company's certificate
of incorporation to effect the Reverse/Forward Stock Split will be
submitted to stockholder vote at the Special Meeting.

Additional information concerning the proposed Reverse/Forward
Stock Split is included in the preliminary proxy statement, which
has not yet been finalized and remains subject to updates.  The
Company will not mail the proxy statement until such time as it has
filed a definitive proxy statement with the SEC.

The Company will announce a new record date once a new timeline for
the Special Meeting has been established.

                       About Lime Energy

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

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

As of June 30, 2016, Lime Energy had $46.2 million in total assets,
$40.6 million in total liabilities, $11.40 million in contingently
redeemable series C preferred stock, and a $5.76 million total
stockholders' deficiency.


LINDEN & ASSOCIATES: U.S. Trustee Unable to Appoint Committee
-------------------------------------------------------------
The Office of the U.S. Trustee on Oct. 18 disclosed in a court
filing that no official committee of unsecured creditors has been
appointed in the Chapter 11 case of Linden & Associates PC.

Linden & Associates, PC sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Nev. Case No. 16-12697) on May 17, 2016.


LOWELL & SONS: Seeks Authorization to Use Cash Collateral
---------------------------------------------------------
Lowell & Sons, LLC, asks the U.S. Bankruptcy Court for the District
of Oregon for authorization to use cash collateral.

The Debtor is indebted to Riverview Community Bank and Mid-Columbia
Economic Development District, or MCEDD, by virtue of certain Note
agreements secured by Deeds of Trust against the Debtor's real
property.  The Deeds of Trust contained commercial security
agreements covering the Debtor's rents.

The Debtor wants to use cash collateral for the payment of its
operating expenses in the normal course of business.  The Debtor
contends that it currently has no alternative borrowing source from
which it could secure additional funding to operate its business.

The Debtor's proposed Budget provides for total estimated monthly
expenses in the amount of $15,085.

The Debtor proposes to provide replacement liens to the property of
the estate of the kind which presently secure the indebtedness owed
to Riverview Community Bank and MCEDD.

A full-text copy of the Debtor's Motion, dated Oct. 17, 2016, is
available at
http://bankrupt.com/misc/Lowell&Sons2016_1633707tmb11_21.pdf

                About Lowell & Sons

Lowell & Sons, LLC, filed a Chapter 11 petition (Bankr. D. Or. Case
No. 16-33707), on Sept. 27, 2016.  The petition was signed by
Lorena N. Lowell, manager.  The Debtor is represented by Theodore
J. Piteo, Esq. at Michael D. O'Brien & Associates, P.C.  The case
is assigned to Judge Trish M Brown.   The Debtor disclosed $2.52
million in total assets and $2.60 million in total liabilities.


M&R CHARLESTON: Disclosure Statement Approval Hearing on Nov. 7
---------------------------------------------------------------
M&R Charleston Station, Inc., will return to the Bankruptcy Court
for the Southern District of Indiana in New Albany on Nov. 7, 2016,
to seek approval of the disclosure statement explaining its Chapter
11 Plan.

The Plan and Disclosure Statement were filed on October 3, 2016.

Objections to the disclosure statement are due at least 5 days
prior to the hearing date.  Objections will be reviewed at the
scheduled hearing.

As reported by the Troubled Company Reporter, the Plan provides
that between the Effective Date and the date that is five years
after the Effective Date, the Debtor will make available for
distributions to holders of allowed Class 3 Unsecured Claims,
estimated to total $365,770.33, the amount necessary to pay each
allowed Class 3 Claims with no interest 50% of their allowed claim.
Commencing 30 days after the Effective Date and continuing every 90
days thereafter, each holder of an allowed Class 3 Claim will
receive cash payments from the Debtor representing all or a portion
of the holder's pro rata share of the funds available for
distribution to members of Class 3.  The Debtor will make payments
of $9,144.26 per quarter until the holders of Class 3 have received
50% of their allowed claim.
  
Upon entry of the court confirmation order, the Debtor will
continue to operate its business and manage its assets, which will
generate income projected to be sufficient for the Debtor to meet
its ongoing expenses and obligations contemplated under the Plan.

The Disclosure Statement is available at:

           http://bankrupt.com/misc/insb16-90506-51.pdf

                   About M&R Charleston Station

M&R Charleston Station, Inc. dba The Spaghetti Shop, fka M&R Outer
Loop Inc., is a corporation organized under the laws of the
Commonwealth of Kentucky in 1988 and presently doing business in
Indiana and Kentucky.  Gary Rosenberg was and continues to be the
sole owner and manager of the Debtor's business operations.  The
Debtor first opened and operated the Charlestown Road Restaurant,
a
franchise of The Spaghetti Shop located in New Albany, Indiana, in
1989.

The Debtor 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 up
to $50,000 and liabilities at $100,001 to $500,000 at the time of
the filing.


MCGRAW-HILL GLOBAL: Fitch's 'B+' IDR Still on Rating Watch Positive
-------------------------------------------------------------------
Fitch Ratings has maintained the Rating Watch Positive on the 'B+'
Issuer Default Ratings (IDR) assigned to McGraw-Hill Global
Education Holdings, LLC (MHGE), McGraw-Hill Global Education
Finance, Inc. (MHGE Finance), MHGE Parent, LLC (HoldCo) and MHGE
Parent Finance, Inc. (HoldCo Finance). MHGE, HoldCo and HoldCo
Finance are all indirect wholly owned subsidiaries of McGraw-Hill
Education, Inc. (MHE). Fitch is also withdrawing the ratings of
McGraw-Hill School Education Holdings, LLC (MHSE) as associated
issues were repaid in the first phase of the company's
recapitalization.

Fitch placed MHGE, HoldCo and HoldCo Finance on Rating Watch
Positive on April 18, 2016 following the company's announcement it
would undertake a recapitalization that would reduce debt, improve
liquidity, diversify the company's operating and financial profile
and strengthen the credit facilities' security package. The first
phase of the recapitalization was completed on May 4, 2016 with the
repayment of debt at MHGE and MHSE using proceeds from the issuance
of new senior secured and unsecured debt. The second phase will
involve MHE's previously announced IPO, which has not yet been
completed.

Fitch would consider an upgrade if IPO proceeds are used to repay
all existing HoldCo debt, which should result in Fitch-calculated
funds from operations (FFO) adjusted total leverage declining below
4.5x. The recapitalization details include the expectation that MHE
will use a portion of net proceeds from its IPO, announced in
September 2015, to repay the senior unsecured notes issued by
HoldCo and HoldCo Finance. Pro forma for the IPO and full repayment
of the notes, FFO adjusted total leverage is expected to be 4.1x as
of June 30, 2016.

Fitch could remove the Rating Watch Positive if the IPO does not
occur before March 2017. If this occurs, Fitch expects to affirm
the remaining ratings. The Rating Watch Positive would also be
removed if the HoldCo notes are not repaid in an amount sufficient
enough to reduce FFO adjusted total leverage below 4.5x. This could
occur if MHE adjusts the expected uses of IPO proceeds or is unable
to complete the IPO.

On May 4, 2016, MHE completed the first phase of its
recapitalization with the refinance of all existing debt at both
MHGE and MHSE using proceeds from new MHGE debt and cash on hand.
The new debt is comprised of a $350 million senior secured revolver
maturing in May 2021, a $1.6 billion senior secured term loan
maturing in May 2022 and $400 million of senior unsecured notes
maturing in May 2024. Additional use of proceeds included a $300
million cash dividend.

As part of the financing transactions, MHSE became a wholly owned
subsidiary of MHGE and part of MHGE's security package. In
addition, $400 million of secured debt at MHGE was replaced with
unsecured debt. Fitch views these actions positively as they
diversify MHGE's operating and financial profile while
strengthening the credit facilities' security position.

Fitch expects to withdraw the IDRs and issuer ratings of HoldCo and
HoldCo Finance once their senior unsecured notes have been repaid
in full.

KEY RATING DRIVERS

Reorganization: With the repayment of its debt, MHSE became a
subsidiary of MHGE, diversifying MHGE's operating and financial
profile and contributing fresh collateral to the new credit
facilities. MHGE's new business profile is as follows:
approximately 40% of total billings are from higher education
publishing/solutions, 39% from K-12 education content, 15% from
international, which includes sales of higher education and
professional education materials, and 6% from professional
education content and services.

Defensible Market Shares: In the U.S. higher education publishing
market, Fitch believes Pearson Education, Cengage Learning and MHGE
collectively hold more than 75% market share. For the U.S. K-12
publishing market, Fitch believes Pearson Education, Houghton
Mifflin Harcourt and MHSE collectively hold more than 80% market
share. This scale provides meaningful advantages and creates
barriers to entry for new publishers in both segments.

Long-term Digital Opportunity: Fitch believes the transition to
digital will lead to a net benefit and expects MHE to continue
investing in its digital products, including through small bolt-on
acquisitions. Fitch expects print/digital margins to be roughly in
line, as digital textbook price discounts (relative to print) and
interactive user experience investments offset the elimination of
the cost of manufacturing, warehousing and shipping printed
textbooks. In addition, higher ed publishers will have the
opportunity to disintermediate used/rental textbook sellers.

Education Spending Budgets: Fitch believes state and municipal
revenues and education budgets will continue to improve at least
through 2019 as a result of a strong adoption calendar, following
several years of cyclical weakness. However, the potential for
federal student aid cuts remain an issue for higher ed publishers.
Long term, Fitch believes higher ed enrollment will continue to
grow in the low single digits, as college degrees continue to be a
necessity for many employers.

KEY ASSUMPTIONS

Fitch's Base Case Assumptions are pro forma for the transactions
and include the operating results of MHSE Sub:

   -- Higher ed revenue is forecasted to grow low to mid-single
      digits annually as digital continues its positive growth
      trajectory driven by growing acceptance of adaptive learning

      solutions. School is expected to return to positive growth
      in 2017 with new adoption opportunities. Professional and
      International revenue is expected to grow by 2% and 3%,
      respectively.

   -- EBITDA margins are expected to grow driven by the continued
      implementation of cost savings that will more fully flow
      through the financial statements.

   -- Debt is repaid as required under amortization schedule, plus

      an additional $300 million of discretionary prepayments
      annually using excess cash flow.

   -- MHE's IPO proceeds are sufficient to repay HoldCo notes in
      2017.

   -- No dividends or share repurchases are contemplated following

      the IPO.

RATING SENSITIVITIES

Rating Upgrade: The Rating Watch will be resolved positively when
MHE's planned IPO has been completed. Fitch will consider an
upgrade if IPO proceeds are used to repay all existing HoldCo debt,
which should result in Fitch-calculated FFO adjusted total leverage
falling below 4.5x. Fitch may consider a multi notch upgrade if
MHGE establishes a financial policy that results in a significant
improvement in operating metrics, including FFO adjusted total
leverage.

Rating Downgrade: The Rating Watch Positive could be removed if the
IPO does not occur by March 2017. It would also be removed if the
HoldCo notes are not repaid in an amount sufficient enough to
reduce FFO adjusted total leverage below 4.5x. This could occur if
MHE adjusts the expected use of IPO proceeds or is unable to
complete the IPO.

LIQUIDITY

As of June 30, 2016, MHGE had $96 million in cash and $290 million
available under its $350 million revolver due 2021.
Fitch-calculated FFO adjusted total leverage was 5.0x. Fitch's
focus on FFO adjusted total leverage is driven by the contribution
of MHSE into MHGE with the debt refinancing and the resultant
increase in MHGE's exposure to deferred digital revenues. The
calculation is in line with how Fitch calculates leverage across
the El-Hi industry, with the change in deferred revenue included in
the calculation of FFO to account for GAAP-driven revenue timing
differentials. As digital revenues continue increasing, revenues
realized in a given year will eventually match revenues recognized
in that year, although Fitch does not expect that to occur within
the rating horizon.

MHGE's Recovery Ratings reflect Fitch's expectation that the
enterprise value of the company and, thus, recovery rates for its
creditors, will be maximized in a restructuring scenario (as a
going concern) rather than a liquidation. Fitch estimates a
distressed enterprise valuation of $1.63 billion, using a 6x
multiple and a post restructuring EBITDA of approximately $273
million. After deducting Fitch's standard 10% administrative claim,
Fitch estimates recovery for the senior secured instruments
consisting of new senior secured instruments of 76%, which maps to
the low end of its 71%-90% 'RR2' range. The HoldCo notes and new
senior secured notes have no expected recovery, resulting in an
'RR6' rating.

FULL LIST OF RATING ACTIONS

Fitch has maintained the Rating Watch Positive on the following
ratings:

   McGraw-Hill Global Education Holdings, LLC (MHGE)

   -- Long-Term IDR 'B+';

   -- Senior secured credit facility 'BB/RR2';

   -- Senior unsecured notes 'B-/RR6'.

   McGraw-Hill Global Education Finance, Inc. (MHGE Finance; co-
   issuer on MHGE's senior notes)

   -- Long-Term IDR 'B+';

   -- Senior unsecured notes 'B-/RR6'.

   MHGE Parent, LLC (HoldCo)

   -- Long-Term IDR at 'B+';

   -- Senior unsecured notes 'B-/RR6'.

   MHGE Parent Finance, Inc. (HoldCo Finance; co-issuer to
   HoldCo's senior unsecured notes)

   -- Long-Term IDR 'B+';

   -- Senior unsecured notes 'B-/RR6'.

Fitch has affirmed with a Stable Outlook and withdrawn the
following ratings:

   McGraw-Hill School Education Holdings, LLC (MHSE)

   -- IDR at 'B';

   -- Senior secured credit facility at 'BB/RR1'.


MERCHANTS BANKCARD: Hearing on Cash Use Continued to Oct. 24
------------------------------------------------------------
Judge Joan N. Feeney of the U.S. Bankruptcy Court for the District
of Massachusetts continued the hearing on Merchants Bankcard
Systems of America, Inc.'s cash collateral motion and Davos
Financial Corp.'s opposition to Oct. 24, 2016 at 11:00 a.m.

        About Merchants Bankcard Systems of America

Merchants Bankcard Systems of America, Inc., filed a Chapter 11
petition (Bankr. D. Mass. Case No. 16-13224) on Aug. 18, 2016.  The
petition was signed by Philip Chait, president.  The Debtor is
represented by David B. Madoff, Esq., at Madoff & Khoury LLP.  The
case is assigned to Judge Joan N. Feeney.  At the time of filing,
the Debtor disclosed $2.58 million in assets and $4.20 million in
liabilities.


MILLENNIUM HEALTHCARE: Acquires Electrocardiography Technology
--------------------------------------------------------------
Millennium HealthCare, Inc., a provider of advanced healthcare
services and innovative medical technologies, on Oct. 19, 2016,
announced that the Company has closed on one of its most
significant transactions in recent years.

Effective Oct. 19, Millennium has acquired from a California-based
biotech firm its proprietary electrocardiography technology, the
CDs/Cardiovascular Diagnostic System, an enhanced platform for
early detection and diagnosis of cardiovascular and coronary heart
disease.

Included in the acquisition was all intellectual property (IP)
associated with this technology, all corresponding patents and
patents pending, as well as all manufacturing, research and
development and all devices currently in inventory.

"This is truly a transformative event, a milestone transaction, for
the Company.  With this acquisition, Millennium has effectively
changed the very nature of the organization, completing its
conversion into a true technology company," said Louis J. Resweber,
Chief Executive Officer of Millennium.

"This transaction will allow Millennium to roll out a
'market-ready' product directly to the medical community," Mr.
Resweber continued.  "Moreover, as a result of this transaction,
Millennium will be re-positioned in the marketplace as a technology
company, and this could allow shareholders to benefit from the
higher valuations generally associated with the tech sector."

"I cannot overstate the magnitude of this event," he added.
"Whereas Millennium was previously perceived in the marketplace as
merely a distributor of medical devices and services, the Company
has now completed its evolution into a true healthcare engineering
and manufacturing entity, which now includes an in-house research
and development (R&D) group."

The Partnership:

Dominick L. Sartorio, Executive Chairman of Millennium, concurred,
"I am very pleased to report that Millennium has entered into a
mutually-beneficial transaction which encompasses 'game-changing'
technology and has also entered into a working partnership with a
truly remarkable group of people in California."

"This transaction will result not only in the transfiguration of
the Company, but will also allow Millennium to work together with
its new partners in California towards the mutual goal of improving
health and saving lives," Mr. Sartorio said.  "By bringing this
technology to market, Millennium can offer greater healthcare
capability to the medical profession, and ultimately to the
public."

Structured with a mixed consideration of cash and equity, the terms
of the acquisition were specifically intended to establish a
long-term, valuation-based incentive for both the Buyers and the
Sellers.

"For this reason, this deal is more like a partnership, rather than
simply a 'buy / sell' transaction," said Mr. Sartorio.

The Transaction:

In addition to acquiring the Seller's existing inventory of
completed devices, ready to go to market, this acquisition also
encompassed exclusive ownership rights to all the Seller's original
cardiograph technology, including all existing patents, patents
pending, and new patents now being readied for submittal to the
United States Patent Office.

"Furthermore, because of this deal, Millennium can now build an
in-house R&D group staffed by key individuals from the original
inventors of this technology, which means that these pioneering and
forward-thinking individuals have now become members of the
Millennium Team.  As such, all parties will now be mutually
incentivized to see the two companies grow and prosper together,"
said Mr. Sartorio.

The Technology:

The innovative technology enables primary care physicians to
perform quick, easy, and non-invasive diagnostic assessments.

This will allow doctors to better monitor the effectiveness of
therapeutic intervention to lifestyle changes, thereby helping to
reduce cardiovascular risk and allowing for better management of
heart disease.

The Medical Need:

Heart disease is the number one cause of death in the United
States, claiming the lives of more than three-quarters-of-a-million
(787,044) patients in the past year alone.

Moreover, coronary heart diseases, strokes and other cardiovascular
ailments claim more lives than all forms of cancer combined.  In
the United States, someone has a heart attack every 34 seconds.

Direct and indirect costs of heart disease is more than $320.1
billion -- a figure that includes not only expensive health care
costs, but also a loss in patient productivity.

The Company:

Millennium HealthCare, since its inception, has been committed to
providing the most innovative technology and services to its
network of primary care physicians (PCP) and their professional
practices, as well as to larger physicians groups, clinics,
laboratories and hospitals.

Millennium's focus has always been on early detection and
preventative care, with an emphasis on timely and accurate
diagnostic screening.  The Company has targeted not only
cardiological / vascular disorders, but also oncology, general
medicine and chronic pain management.

In the first nine months of this year, Millennium has undergone a
complete re-organization, and has focused both on rebuilding its
Products (technology) Division, and expanding its Services
(physician practice management) Division.

As part of the Company's re-launch and re-structuring, begun in
March of 2016, Millennium has announced the election of a new Chief
Executive Officer (Resweber); the negotiated settlement of more
than $3.5 million in corporate debt; and the Company's formal
release from U.S. Bankruptcy Court resulting from a suit filed by
creditors in February of this year.

                 About Millennium HealthCare Inc.

Millennium HealthCare Inc. (OTC PINK: MHCC) --
http://www.millenniumhcs.com/-- through its wholly owned operating
subsidiaries, provides hospitals, primary care physician practices,
physician groups and healthcare facilities of all sizes with
cutting-edge technology driven applications, systems and medical
devices focused primarily on preventive care through early
detection.  The Company also provides advanced billing and coding
services, and practice development and management services.

                     About Millennium Lab

Millennium Lab Holdings II, LLC, Millennium Health, LLC and Rxante,
LLC, providers of laboratory-based diagnostic testing focused on
drugs of abuse and clinical medication monitoring, filed Chapter 11
bankruptcy petitions (Bankr. D. Del. Case Nos. 15-12284, 15-12285
and 15-12286, respectively) on Nov. 10, 2015.  The Debtors
estimated assets in the range of $100 million to $500 million and
liabilities of more than $1 billion.

The Debtors have engaged Skadden, Arps, Slate, Meagher & Flom LLP
as counsel; Young Conaway Stargatt & Taylor, LLP as conflicts
counsel; Lazard Freres & Co., LLC, as investment banker; Alvarez &
Marsal as financial advisor; and Prime Clerk LLC as claims and
noticing agent.

Judge Laurie Selber Silverstein has been assigned the case.


MONAKER GROUP: Amends Q2 2015 Quarterly Report
----------------------------------------------
Monaker Group, Inc., has prepared an amendment No. 1 on Form
10-Q/A to amend its quarterly report on Form 10-Q for the quarter
ended Aug. 31, 2015, as filed with the Securities and Exchange
Commission on Oct. 16, 2015, to correct certain errors related to
the Company's accounting treatment with its deconsolidated
affiliate (RealBiz Media Group, Inc.) which were identified in June
of 2016, in connection with the preparation of the Company's
consolidated annual financial statements for the fiscal year ended
Feb. 29, 2016, and the resulting restatement of its financial
statements included in the Original Filing.

Due to the error and based upon the recommendation of management,
the Company's Board of Directors determined on May 31, 2016, that
the Company's previously issued audited financial statements should
no longer be relied upon.  As a result of the foregoing, the
Company has previously restated its consolidated financial
statements for the fiscal year ended Feb. 28, 2015, and the quarter
ended May 31, 2015, and will be restating its consolidated
financial statements for the other two quarterly periods of the
fiscal year ended Feb. 29, 2016, including the quarter ended
Aug. 31, 2015.

As restated, the Company reported a net loss of $1.34 million on
$149,267 of total revenues for the three months ended Aug. 31,
2015, compared to a net loss of $1.11 million on $149,267 of total
revenues as previously reported.

For the six months ended Aug. 31, 2015, the Company reported a net
loss of $3.90 million on $485,360 of total revenues compared to a
net loss of $3.83 million on $485,360 of total revenues as
originally reported.

The Company's restated balance sheet at of Aug. 31, 2015, showed
$2.52 million in total assets, $9.52 million in total liabilities
and a total stockholders' deficit of $6.99 million.

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

                          goo.gl/M1HiG2

                       About Monaker Group

Monaker Group, Inc., formerly known as Next 1 Interactive, Inc., is
a digital media marketing company focusing on lifestyle enrichment
for consumers in the travel, home and employment sectors.  Core to
its marketing services are key elements including proprietary
video-centered technology and established partnerships that enhance
its reach.  Video is quickly becoming consumer's preferred method
of searching and educating themselves prior to purchases.
Monaker's video creation technology and film libraries combine to
create lifestyle video offerings that can be shared both to its
customers and through trusted distribution systems of its major
partners.  The end result is better engagement with consumers who
gain in-depth information on related products and services helping
to both inform and fulfill purchases.  Unlike traditional marketing
companies that simply charge for advertising creation, Monaker
holds licenses and/or expertise in the travel, real estate and
employment sectors allowing it to capture fees at the point of
purchase while the majority of transactions are handled by
Monaker's partners.  This should allow the company to capture
greater revenues while eliminating much of the typical overhead
associated with fulfillment.  Monaker core holdings include
Maupintour, NameYourFee.com, RealBiz Media Group - helping it to
deliver marketing solutions to consumers at home, work and play.

Monaker Group reported a net loss of $4.55 million on $544,658 of
total revenues for the year ended Feb. 29, 2016, compared to a net
loss of $2.98 million on $1.09 million of total revenues for the
year ended Feb. 28, 2015.

As of May 31, 2016, the Company had $2.36 million in total assets,
$3.05 million in total liabilities and total stockholders' deficit
of $693,669.

LBB & Associates Ltd., LLP, in Houston, Texas, in its report on the
consolidated financial statements for the year ended Feb. 29, 2016,
raised substantial doubt about the Company's ability to continue as
a going concern.


MVP TRANS: U.S. Trustee Unable to Appoint Committee
---------------------------------------------------
The Office of the U.S. Trustee on Oct. 18 disclosed in a court
filing that no official committee of unsecured creditors has been
appointed in the Chapter 11 case of MVP Trans Inc.

MVP Trans Inc. filed a Chapter 11 bankruptcy petition (Bankr. D.
Nev. Case No. 16-13016) on June 1, 2016.  Hon. August B. Landis
presides over the case. Ballstaedt Law Firm represents the Debtor
as counsel.  In its petition, the Debtor estimated $1 million to
$10 million in both assets and liabilities. The petition was signed
by Sergey Sergeyevsky, secretary, treasurer and director.


NAS HOLDINGS: Allowed to Use Cash Collateral Until Oct. 5
---------------------------------------------------------
Judge Catharine R. Aron of the U.S. Bankruptcy Court for the Middle
District of North Carolina, in an Order dated September 29, 2016,
authorized NAS Holdings, Inc., to use cash collateral through
October 5, 2016.

BB&T holds two secured liens against the Debtor's restaurant
equipment and fixtures.  The monthly payments for the two loans are
$7,269 and $3,730, respectively.  

Judge Aron directed the Debtor to continue making regular monthly
payments to BB&T as they come due, and continuously maintain an
insurance policy on the restaurant equipment and fixtures.

The Court ordered BB&T to retain its liens on all prepetition
collateral and granted BB&T with replacement liens upon all
collateral of the type and kind upon which it has prepetition
liens, to the same extent, priority, and validity as it had on the
Petition Date.

The Court granted BB&T an allowed super-priority administrative
expense claim, to the extent of any diminution in value of BB&T’s
interests in prepetition collateral caused solely by the use of
cash collateral, which will have priority over all administrative
expense claims and unsecured claims against the Debtor or its
estate.
  
A full-text copy of the Fifth Interim Order dated September 29,
2016 is available at https://is.gd/ZM16cj

                            About NAS Holdings

NAS Holdings, Inc., sought chapter 11 protection (Bankr. M.D.N.C.
Case No. 16-50346) on April 1, 2016.  The petition was signed by
Neeket Vadgama, vice president.  The Debtor is represented by
Kenneth Love, Esq., at Love and Dillenbeck Law, PLLC.  The case is
assigned to Judge Catharine R. Aron.  The Debtor estimated assets
of $500,000 to $1 million and debt of $1 million to $10 million.  


The Bankruptcy Administrator was unable to form a creditors'
committee in the Debtor's chapter 11 cases.


NAVISTAR INTERNATIONAL: Appoints Three New Directors
----------------------------------------------------
The board of directors of Navistar International Corporation
appointed Jose Maria Alapont, Stephen R. D'Arcy and Dennis A.
Suskind as new directors, effective on Oct. 14, 2016.

As a director of the Company, each of Messrs. Alapont, D'Arcy and
Suskind will receive compensation as a non-employee director in
accordance with the Company's non-employee director compensation
practices described in the Company's Annual Proxy Statement filed
with the Securities and Exchange Commission on Dec. 22, 2015.  This
compensation generally consists of an annual retainer in the amount
of $120,000 ($20,000 which is to be paid in the form of restricted
stock) and an annual stock option grant of 5,000 options.  The
initial cash and stock award to be received by each of Messrs.
Alapont, D'Arcy and Suskind will be pro-rated accordingly.

"We are delighted that Jose, Stephen and Dennis have agreed to join
our board as each brings a wealth of relevant experience and
special expertise to the board," said Jim Keyes, Navistar's
non-executive chairman of the Board.  "Their knowledge and
expertise will be invaluable to Navistar and its management team."

Mr. Alapont has been appointed as a member of the Board's Finance
Committee; Mr. D'Arcy was appointed as a member of the Board's
Audit Committee; and Mr. Suskind was appointed as a member of the
Board's Compensation Committee.

Mr. Jose Maria Alapont, age 66, retired in 2012 as president and
chief executive officer of Federal-Mogul Corporation, an automotive
and industrial equipment supplier.  Mr. Alapont served as Chairman
of the Board of Directors of the company from 2005 to 2007 and
continued to serve as a Director on the Board until 2013. He is
also the former chief executive officer and director of Fiat Iveco,
S.p.A.  Prior to joining Fiat Iveco, Mr. Alapont held executive,
vice president and president, positions for more than 30 years at
other leading global vehicle manufacturers and suppliers at Delphi
Corporation, Valeo S.A., and Ford Motor Company.  During 2011-2012
Mr. Alapont was a member of the Board of Directors of Mentor
Graphics Corporation.  He was a member of the Davos World Economic
Forum and currently serves as a director of Hinduja Automotive
Limited and Manitowoc Corporation.

Mr. Stephen R. D'Arcy, age 61, has served as a Partner of Quantum
Group LLC, an investment and consulting firm since 2010.
Previously, he worked for PricewaterhouseCoopers LLP, a
multinational professional services firm, for 34 years, serving
most recently as Global Automotive Leader from 2002 to 2010. He
served on the Board of Vanguard Health Systems Inc., a company
previously listed on the New York Stock Exchange from 2011 to 2013,
and currently serves as a Director of Penske Corporation, Premier,
Inc. and the Hudson-Webber Foundation.  He also served as
non-executive chairman of the Board of Trustees of The Detroit
Medical Center from 2006 to 2010.

Mr. Dennis A. Suskind, age 73, joined J. Aron & Company in 1961
where he served as executive vice president and was responsible for
the worldwide precious metal trading operations.  In 1980, Mr.
Suskind became a general partner of Goldman Sachs upon its
acquisition of J. Aron & Company until his retirement in 1991.
During his tenure in trading metals, Mr. Suskind served as Vice
Chairman of NYMEX, vice chairman of COMEX, a member of the board of
the Futures Industry Association, a member of the Board of
International Precious Metals Institute, and a member of the boards
of the Gold and Silver Institutes in Washington, D.C. Mr. Suskind
previously served on the Board of NYMEX Holdings and currently
serves as a director of the CME Group, Inc. and Bancorp, Inc.

These appointments increase the number of Navistar board members to
12.

                   About Navistar International

Navistar International Corporation (NYSE: NAV) --
http://www.navistar.com/-- is a holding company whose             

subsidiaries and affiliates subsidiaries produce International(R)
brand commercial and military trucks, MaxxForce(R) brand diesel
engines, IC Bus(TM) brand school and commercial buses, Monaco RV
brands of recreational vehicles, and Workhorse(R) brand chassis
for motor homes and step vans.  It also is a private-label
designer and manufacturer of diesel engines for the pickup truck,
van and SUV markets.  The Company also provides truck and diesel
engine parts and service.  Another affiliate offers financing
services.

As of July 31, 2016, Navistar had $5.71 billion in total assets,
$10.85 billion in total liabilities and a total stockholders'
deficit of $5.13 billion.

                          *     *     *

In the July 22, 2015, edition of the TCR, Moody's Investors Service
affirmed Navistar's Corporate Family Rating at 'B3' and assigned a
'Ba3' rating to Navistar, Inc.'s new $1.04 billion senior secured
term loan due 2020.

Navistar carries a 'CCC' Issuer Default Ratings from Fitch
Ratings.

As reported by the TCR on Sept. 13, 2016, S&P Global Ratings placed
its ratings, including the 'CCC+' corporate credit ratings, on
Navistar on CreditWatch with positive implications.


NEENAH PAPER: S&P Affirms 'BB' Rating & Revises Outlook to Pos.
---------------------------------------------------------------
S&P Global Ratings said that it affirmed its 'BB' ratings on Neenah
Paper Inc. and revised the rating the outlook to positive from
stable.  The recovery rating on the company's $175 million senior
unsecured notes remains '3', indicating S&P's expectation for
meaningful (the high end of the 50%-70% range) recovery to
debtholders in the event of default.

S&P's outlook revision recognizes several factors:

   -- The realization of cost synergies from the Fibermark
      acquisition;
   -- Favorable sales growth in both legacy and integrated
      Fibermark products through the first half of fiscal 2016;
   -- Improving EBITDA margins and better cash-flow generation,
      allowing the company to pay-down revolving debt balances,
      pushing debt to EBITDA below 2x on a last-12-month basis;
      and
   -- The company's continued transition toward growing its
      technical products business.

S&P believes that these trends could support an upgrade in the next
12 months, assuming Neenah's leverage remains around 2x and the
build-out of its auto filtration capacity boosts top-line growth
beginning in 2017.

Alpharetta, Ga.-based Neenah Paper Inc. is a specialty paper
manufacturer that operates two main business segments: technical
products (filtration, tape, backings, and labels) and fine paper
and packaging (including various printing, premium packaging, and
specialty paper products).  While its production and the vast
majority of its sales are in the U.S., the company does have some
international presence (about 23% of total sales in 2015).  S&P's
'BB' corporate credit rating on Neenah reflects what S&P considers
to be an intermediate financial risk profile combined with a weak
business risk profile.  Although S&P assess Neenah's business risk
profile as weak, S&P recognizes that it has improved as the company
has diversified over time and is now less concentrated in mature,
and in some cases declining, printing and writing paper products.
S&P views the company's technical products segment as having
stronger prospects for long-term growth and more stable operating
margins.  Although Neenah is smaller than some other rated paper
and forest product industry peers in terms of revenues and market
capitalization, it has solid shares of some if its more
specialized, niche markets, and it maintains EBITDA margins
(roughly 18% for 2016 through June 30) and returns that S&P views
as being on par with those of its peers.

S&P's view of the company's financial risk profile takes into
account a track record of conservative balance-sheet management and
S&P's baseline forecast of adjusted debt to EBITDA remaining within
the range of 1.8x to 2x through fiscal 2017.  S&P believes
management's publicly stated financial policy is consistent with
our financial risk assessment and that any M&A activity, internal
investment, or returns to shareholders will be funded largely via
cash-flow generation and will not have a material impact on
leverage.  S&P also maintains its view of the company's liquidity
as exceptional due to its low level of operational cash
requirements.

The positive outlook recognizes the company's improved
profitability and debt leverage.  It also reflects Neenah's
continued shift toward the growth-oriented and more profitable
technical products business and specialty paper applications.

S&P could upgrade Neenah over the next 12 months if it continues to
show organic revenue growth and EBITDA improvement derived from
products S&P views as being focused in growth-oriented markets,
improvement of leverage and profit margins such that adjusted debt
to EBITDA is maintained at around 2.0x, or a combination of these
factors.

At this time, S&P considers a downgrade to be unlikely over the
next 12 months.  However, S&P would consider revising the outlook
back to stable if there were a leveraging event, such as a large
debt-financed acquisition that caused debt to EBITDA to climb
toward 3x.  S&P could also revise the outlook to stable if input
costs or other factors erode profitability such that S&P's
expectation for the company's business risk profile to improve
becomes questionable.



NEXXLINX CORP: Unsecured Creditors to Recoup 23.3% Under Exit Plan
------------------------------------------------------------------
Holders of $6 million in general unsecured claims against Nexxlinx
Corporation, Inc., and its affiliated debtors are projected to
recoup 23.3% of the allowed amount of their claims, according to a
plan of reorganization and accompanying disclosure statement the
Debtors delivered to the U.S. Bankruptcy Court in Atlanta, Georgia,
earlier this month.

The Plan documents, filed on Oct. 4, 2016, state that the
Reorganized Debtor will contribute a total of $1.4 million over the
life of the Plan to a Distribution Fund.  Holders of an Allowed
Unsecured Claim in Class 9 shall receive payment of a proportionate
share of the funds in the Distribution Fund equal to that Holder's
pro rata share.  

Holders of allowed secured claims are projected to recoup 100% of
the allowed amount of their claims, albeit in installments.  The
secured claims include the $3.7 million claim of Action Capital,
which will be paid by the Debtors as follows: (a) the Pre-Petition
Loans will be repaid from operating revenues of the Debtors in
accordance with the terms of the Pre-Petition Loan Documents, and
(b) the DIP Financing shall be paid in accordance with the terms of
the Post-Petition Loan Documents.  The Action Capital Claim is
secured by a first priority security interest in certain assets of
the Debtors, including but not limited to accounts receivable.  

Another secured creditor, BB&T, may also see a 100% recovery for
its $536,000 secured claim, although the amount will be paid by the
Reorganized Debtor in eight equal quarterly payments of $67,000 for
a total of $536,000.  BB&T's Claim is secured by a second priority
security interest in certain assets of the Debtors, including but
not limited to accounts receivable.

The Plan also provides a Convenience Class comprised of Unsecured
Claims of $5,000 or less.  Holders of an Allowed Convenience Class
Claim will receive a one-time Distribution in an amount equal to
20% of that Holder's Allowed Claim in full and final satisfaction
of the Allowed Claim.  The Debtors project there are $140,000 in
claims that belong to this Class.

Holders of Allowed Equity Interests are out of the money.

According to the Plan, Allowed Administrative Claims for
professional compensation and expenses awarded under 11 U.S.C.
Sections 327 or 330 will be paid first from any retainers provided
or reserves established as contemplated under orders entered in the
Case and, to the extent any deficiencies remain, from cash on hand
and/or future earnings of the Reorganized Debtor.  All other
Payments to Holders of Allowed Claims or Interests shall be paid
from a Postconfirmation Distribution Fund to be funded by future
earnings of the Reorganized Debtor and capital contributions from
so-called New Value Equity Participants.  The New Value Equity
Participants will:

     -- make a $50,000 capital infusion in the Reorganized Debtor;
and

     -- waive Claims in the amount of not less than $2,194,201,

as their contribution to the Reorganized Debtor on or before the
Effective Date, and which may be used as partial funding for the
Postconfirmation Distribution Fund.  In exchange for this
contribution, 100% of the New Equity Interests in the Reorganized
Debtor will be issued to the New Value Equity Participants.

The Plan grants releases to the New Value Equity Participants.

Following confirmation of the Plan, the Reorganized Debtor will
continue to be managed by the Debtors' current principal officer,
Alan Quarterman.  

The Debtors believe that their Plan provides Creditors with the
greatest possible value that can be realized on their respective
claims, and that the Plan is in the best interests of all
Creditors.  If the Plan is not confirmed by the Bankruptcy Court,
the Debtors may be forced to convert these Chapter 11 cases to
cases under Chapter 7 of the Bankruptcy Code.  The Debtors believe
that, in the event the cases were converted to Chapter 7 of the
Bankruptcy Code, Creditors would receive substantially smaller
distributions, if any, than are provided for in the Plan.
Consequently, the Debtors seek confirmation of the Plan and urge
all Creditors and Interest Holders to vote to accept the Plan.

A copy of the Disclosure Statement is available at:

     http://bankrupt.com/misc/ganb16-61225-0136.pdf

              About NexxLinx Corporation

NexxLinx Corporation, Inc. provides cloud-based outsourced
business
process and marketing services. The company designs custom
solutions for inbound and outbound customer care, telemarketing
and
data collection, help desk, e-mail processing, live Web and voice
interaction, and back-end data processing. It also provides
multichannel communication, customer retention, inbound sales
conversion, government contact center, back office support,
technical support, and fulfillment solutions.

NexxLinx Corporation, Inc., sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. N.D. Ga. Case No. 16-61225) on June
28,
2016.  The petition was signed by D. Alan Quarterman, CEO.  The
Company has estimated assets and liabilities of $10 million to $50
million.

These affiliates also sought Chapter 11 protection on June 28:
CustomerLinx of North Carolina, Inc., Microdyne Outsourcing, Inc.,
NexxLinx Global, Inc., NexxLinx of New York, Inc., and NexxLinx of
Texas, Inc.

The Court on June 30, 2016, entered an order jointly administering
the Chapter 11 cases.

NexxPhase, Inc., filed a Chapter 11 petition (Bankr. N.D. Ga. Case
No. 16-62269) on July 14, 2016.

The cases are assigned to Judge Paul Baisier. The Debtors are
represented by Ashley Reynolds Ray, Esq., and J. Robert Williamson,
Esq., at Scroggins & Williamson, P.C. GGG Partners, LLC serves as
the Debtors' financial consultant.

Guy Gebhardt, acting U.S. trustee for Region 21, on July 11, 2016,
appointed five NexxLinx creditors to serve on the official
committee of unsecured creditors.  The Committee has retained Mark
I. Duedall, Esq., at Bryan Cave LLP, as counsel.


NGL ENERGY: Fitch Assigns 'B-' Senior Unsecured Notes Rating
------------------------------------------------------------
Fitch Ratings has assigned NGL Energy Partners, LP (NGL) $400
million issuance of senior unsecured notes due 2023 a 'B-' rating.
The Recovery Rating is 'RR6'. The notes are being co-issued by NGL
and NGL Energy Finance Corp. Proceeds are expected to be used to
repay borrowings under NGL's secured credit facility.

The ratings consider the relatively high leverage of the
partnership, as well as the structural subordination that NGL's
unsecured notes have to its large senior secured borrowings. Thus,
Fitch notches NGL's senior unsecured debt rating two notches down
from NGL's 'B+' Issuer Default Rating (IDR), at 'B-'/'RR6',
indicating poor recovery prospects at the unsecured level in the
event of a default given higher expected recovery at the secured
level.

Fitch notes that NGL has been making progress with regard to
managing its leverage, raising needed capital, and completing and
reducing its capital spending backlog. In April 2016, NGL completed
the sale of its general partnership and limited partnership
interest in TransMontaigne Energy Partners, LP (TransMontaigne).
Additionally, NGL recently completed the issuance of $240 million
of preferred equity (which Fitch gives 50% equity treatment) and
has made significant progress on completing its Grand Mesa Pipeline
project, which is expected in-service in November 2016. NGL's
growth spending for FY2017 (ends March 31) has been scaled back and
is expected to be in the range of $200 million to $300 million,
which is viewed as reasonable given Fitch's expectations for
liquidity.

Important to note is that NGL has reduced FY2017's distributions by
39%, which should improve the distribution coverage ratio
significantly. Fitch believes this progression should benefit the
partnership in the near- to intermediate-term and NGL should
experience credit metric strengthening in FY2017.

KEY RATING DRIVERS

Diverse Operations: NGL's ratings reflect its diverse assets
located throughout the U.S. The partnership has significantly
expanded in size and scale since its IPO in 2011. NGL's assets are
diverse and consist of liquids (approximately 22% of EBITDA
excluding G&A for FY2016), crude oil logistics (14%), water
solutions (16%), retail propane (18%), and refined fuels and
renewables (30%). NGL's strategy is to focus growth spending on
crude oil logistics, liquids, retail propane and refined fuels and
renewables.

High Leverage: For the latest-12-months (LTM) ending June 30, 2016,
NGL's adjusted leverage (as defined by Fitch as debt/Adjusted
EBITDA, whereby debt includes NGL's borrowings under its working
capital facility, and EBITDA excludes equity in earnings, but
includes distributions from non-consolidated affiliates and
excludes gain on asset sales) was just over 7.0x. Given Grand
Mesa's in-service date of Nov. 1, 2016 and expectations for
normalized weather for the propane business in FY2017, Fitch
projects adjusted leverage to improve to within the range of
5.4x-5.8x by the end of FY2017.

Distributable Cash Flow and Distribution Coverage: For the LTM
ending June 30, 2016, distributable cash flow was $252 million,
down from $276 million generated during FY2016. NGL's distribution
coverage ratio was 0.9x for the LTM ending June 30, 2016. With the
39% cut in distribution in FY2017, Fitch expects the coverage ratio
to be in the range of 1.8x to 2.0x by year-end FY2017 (March
2017).

KEY ASSUMPTIONS

Fitch's key assumptions within the rating case for NGL include:

   -- EBITDA growth occurs in FY2017 due to projects coming on
      line, particularly Grand Mesa;

   -- Grand Mesa completed and operational starting Nov. 1, 2016
      with EBITDA in line with NGL's guidance of $120 million in
      year one.

RATING SENSITIVITIES

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

   -- Leverage at or below 5.5x on a sustained basis;

   -- Fee-based arrangements accounting for greater than 60% of
      cash flows;

   -- A demonstrated sustainable ability to access capital markets

      for liquidity needs.

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

   -- Reduced liquidity;

   -- Significant increases in capital spending beyond Fitch's
      expectations or further acquisition activity that have
      negative consequences for the credit profile (e.g. if not
      funded with a balance of debt and equity);

   -- Increased adjusted leverage beyond 6.5x for a sustained
      period of time;

   -- Distribution coverage below 1x for a sustained period of
      time.

LIQUIDITY

As of June 30, 2016, NGL had $10 million of cash on the balance
sheet. It also had a $2.484 billion secured bank facility
comprising a $1.038 billion working capital facility (which is
restricted by a borrowing base) and a $1.446 billion expansion
facility. The working capital facility had borrowings of $655.5
million and letters of credit totalling $71.6 million. The
expansion facility had drawn $1.172 billion, leaving capacity of
$274 million. NGL's bank agreement extends through November 2018.

In addition to the bank agreement having borrowing base
restrictions on the working capital revolver, financial covenants
do not allow leverage (as defined by the bank agreement) to exceed
4.75x or allow interest coverage to be below 2.75x. As of June 30,
2016 NGL was in compliance with its covenants, with leverage of
4.0x and interest coverage of 4.7x.

In addition to the working capital borrowings and letters of credit
being excluded from the leverage calculation, NGL gets pro forma
EBITDA credit for acquisitions. Pro forma EBITDA credit for
material projects or acquisitions is typical for MLP bank
agreements.

NGL does not have any significant debt maturities until 2018 when
the bank agreement expires. After that, it has $383.5 million of
notes due in 2019.

FULL LIST OF RATING ACTIONS

Fitch currently rates NGL as follows:

   NGL Energy Partners LP

   -- Long-Term IDR at 'B+';

   -- Senior unsecured debt at 'B-'/'RR6'.

   NGL Energy Finance Corp.

   -- Senior unsecured debt at 'B-'/'RR6'.

The Rating Outlook is Stable.


NGL ENERGY: S&P Assigns 'BB-' Rating on Proposed $400MM Sr. Notes
-----------------------------------------------------------------
S&P Global Ratings assigned its 'BB-' issue-level rating and '4'
recovery rating to Tulsa, Okla.-based midstream energy partnership
NGL Energy Partners L.P.'s and NGL Energy Finance Corp.'s proposed
$400 million senior unsecured notes due 2023.  The partnership will
use net proceeds from the offering to repay borrowings outstanding
under its senior secured revolving credit facility.

At the same time, S&P revised the recovery ratings on NGL's senior
unsecured notes to '4' from '3'.  The '4' recovery rating on the
unsecured notes reflects S&P's expectation of average (30% to 50%;
upper half of the range) recovery if a payment default occurs.  The
'BB-' corporate credit and issue-level ratings are unaffected.

S&P's updated recovery analysis on NGL includes these assumptions:

   -- S&P's simulated default scenario contemplates a default
      stemming from sharply lower commodity prices that reduce
      cash flow in its crude oil and natural gas liquids logistics

      business.
   -- S&P bases its valuation on its projected emergence EBITDA of

      about $250 million, and a 6x multiple.  The multiple
      reflects NGL Energy's ownership of the distribution and
      logistics businesses, which S&P typically values by applying

      a 5x to 5.5x EBITDA multiple and 6.5x to 7x EBITDA multiple,

      respectively.

   -- S&P assumes that the partnership's working capital facility
      is fully satisfied by the working capital securing it and
      that the expansion capital facility is 50% drawn at default.

   -- The credit facilities and the senior secured notes are
      secured with a first-priority interest on most of the
      partnerships' assets, ranking before the unsecured notes.

Simulated default assumptions:

   -- Simulated year of default: 2020
   -- EBITDA at emergence: $250 million
   -- EBITDA multiple: 6x

Simulated waterfall

   -- Net enterprise value (after 5% administrative costs):
      $1.425 billion
   -- Secured first-lien debt claims: $860 million
   -- Total value available to unsecured claims: $570 million
   -- Senior unsecured claims: $1.29 billion
   -- Recovery expectations: 30% to 50% (upper half of the range)

Notes: All debt amounts include six months of prepetition
interest.

Ratings List

NGL Energy Partners L.P.
Corporate Credit Rating                    BB-/Negative/--

Rating Unchanged; Recovery Rating Revised

NGL Energy Partners L.P.
NGL Energy Finance Corp.
                                            To               From
Senior Unsecured                           BB-              BB-
  Recovery Rating                           4H               3L

New Rating

NGL Energy Partners L.P.
NGL Energy Finance Corp.
$400 mil sr unsecd notes due 2023          BB-
  Recovery Rating                           4H


NUVERRA ENVIROMENTAL: To Utilize Interest Payment Grace Period
--------------------------------------------------------------
Nuverra Environmental Solutions, Inc., announced that it has
elected to exercise its grace period and defer making approximately
$2.0 million in interest payments due Oct. 17, 2016, on its
outstanding $40.4 million principal amount of 9.875% Senior Notes
due 2018.

Under the terms of the indenture governing the 2018 Notes, the
Company has a 30-day grace period after the interest payment due
date before an event of default would occur.  The Company believes
it is in the best interests of all stakeholders to use the grace
period to continue discussions with its debtholders regarding
strategic alternatives to improve Nuverra's long-term capital
structure.  During this period, the Company anticipates meeting all
of its obligations to customers, employees and suppliers and
continuing to provide safe, reliable, high-quality services to its
customers.

                        About Nuverra

Nuverra Environmental Solutions, Inc. (OTCQB: NESC) provides
environmental solutions to customers focused on the development and
ongoing production of oil and natural gas from shale formations.
The Scottsdale, Arizona-based Company operates in shale basins
where customer exploration and production activities are
predominantly focused on shale and natural gas.

Nuverra reported a net loss attributable to common stockholders of
$195 million in 2015, a net loss attributable to common
stockholders of $516 million in 2014 and a net loss attributable to
common stockholders of $232 million in 2013.

At June 30, 2016, the Company had $422 million in total assets,
$497 million in total liabilities, and total stockholder's
deficit of $75.1 million.

KPMG LLP, in Phoenix, Arizona, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2015, citing that the Company has incurred recurring
losses from operations and has limited cash resources, which raise
substantial doubt about its ability to continue as a going concern.


PAR TWO: Wants to Use Synovus Bank Cash Collateral
--------------------------------------------------
Par Two Investors, Inc., asks the U.S. Bankruptcy Court for the
Middle District of Georgia for authorization to use Synovus Bank's
cash collateral.

The Debtor relates that a significant portion of the Debtor's real
and personal property assets are subject to certain promissory
notes and commercial security interests executed by the Debtor in
favor of Synovus Bank, which asserts that it is owed the amount of
$1,232,085 as of the Petition Date.  The Debtor further relates
that additional secured loans are held by The Bank of Terrell.

Synovus Bank alleges that each of the Loan Documents executed by
the Debtor contains an assignment of rents provision and has
asserted that the rents receivables of the Debtor are cash
collateral.

The Debtor contends that its use of the cash collateral is
essential to the continuing operation of its business, to maintain
the value of the estate and for an effective reorganization.  The
Debtor intends to use cash collateral for general and
administrative expenses as set forth in its proposed Budget.  

The Debtor's proposed Budget provides for total monthly expenses in
the amount of $14,551.05.

The Debtor proposes to make monthly adequate protection payments in
the amount of $4,272.22, representing accruing interest on the full
amount of Synovus Bank's claim.  The Debtor further proposes to
grant Synovus Bank a replacement lien in post-petition rents
receivable, in the same order of priority as existed pre-petition
for Synovus Bank.

A full-text copy of the Debtor's Motion, dated Oct. 17, 2016, is
available at http://bankrupt.com/misc/ParTwo2016_1611120_24.pdf

A full-text copy of the Debtor's proposed Budget, dated Oct. 17,
2016, is available at
http://bankrupt.com/misc/ParTwo2016_161120_24_1.pdf

                    About Par Two Investors

Par Two Investors, Inc., is in the business of property management

relating to numerous parcels of land as well as mobile homes that
it offers for rent in Lee County, Georgia.

Par Two Investors, Inc., sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. M.D. Ga. Case No. 16-11120) on Sept. 15,
2016.  The petition was signed by George Shane Brinson, officer.  

At the time of the filing, the Debtor disclosed $1.01 million in
assets and $1.34 million in liabilities.  A significant portion of
Par Two's real and personal property assets are subject to certain
promissory notes and commercial security interests executed by the
Debtor in favor of Synovus Bank, which asserts that the amount owed
to Synovus Bank as of the Petition Date is $1,232,085.





PARNASSUS PREPARATORY: S&P Assigns 'BB' Rating on 2016 Rev. Bonds
-----------------------------------------------------------------
S&P Global Ratings assigned its 'BB' long-term rating to Ham Lake,
Minn.'s series 2016A and 2016B charter school lease revenue bonds,
issued for Parnassus Preparatory School.  The outlook is stable.

"The rating reflects our view of the school's good enterprise
profile for the rating, including robust enrollment increases as
well as a strong academic curriculum based on rewards and test
results that place above those of the local school district and
state," said S&P Global Ratings credit analyst Kaiti Wang.  "The
rating also reflects our view of the school's financial
performance, which has been consistently positive since inception,"
Ms. Wang added.

The series 2016 bonds are a general obligation of CS Property
Parnassus, LLC, a building company that is a single-purpose entity
created exclusively to acquire, own, and lease facilities on behalf
of Parnassus.  The bonds are secured by a first-mortgage lien on
the project property and a security interest in the lease payments
made by the school to the building company using state lease aid.
The bonds are further secured by a gross pledge of the school's
per-pupil state aid and certain federal pass-through payments from
the state, as well as a fully funded debt service reserve.

Proceeds from the bonds will provide $13.5 million to acquire the
facility the school currently occupies and to construct
improvements of $11.6 million, including a 32,307 square-foot
expansion to provide for an auditorium and gymnasium, an exterior
finish, and various site improvements.  The school indicates it has
no plans to issue more debt.  Parnassus operates a K-12, single
site charter school in Maple Grove, a northwest suburb of
Minneapolis.



PAULA MCLOUD: Chapter 11 Plan, Disclosures Due Dec. 14
------------------------------------------------------
In the Chapter 11 case of Paula McLoud, a Chapter 11 plan or
Disclosure Statement is due Dec. 14, 2016.

Paula McLoud filed a Chapter 11 petition (Bankr. D. Md. Case No.
16-21011) on Aug. 16, 2016, and is represented by Diana L. Klein,
Esq., at Klein & Associates, LLC.


PCI MANUFACTURING: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: PCI Manufacturing, LLC
        PO Box 296
        Sulphur Springs, TX 75483

Case No.: 16-41888

Chapter 11 Petition Date: October 18, 2016

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

Judge: Hon. Brenda T. Rhoades

Debtor's Counsel: Christopher J. Moser, Esq.
                  QUILLING, SELANDER, LOWNDS
                  WINSLETT & MOSER, P.C.
                  2001 Bryan Street, Suite 1800
                  Dallas, TX 75201-3005
                  Tel: (214) 871-2100
                  Fax: (214)871-2111
                  E-mail: cmoser@qslwm.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Miles J. Arnold, president.

A copy of the Debtor's list of 20 largest unsecured creditors is
available for free at http://bankrupt.com/misc/txeb16-41888.pdf


PETROQUEST ENERGY: Signs $50-Mil. Loan Agrement with Wells Fargo
----------------------------------------------------------------
PetroQuest Energy, Inc., has entered into a $50 million
multi-advance term loan agreement with certain lenders, and Wells
Fargo Bank, National Association, as administrative agent for such
lenders.  The loan agreement provides a multi-advance term loan
facility with borrowing availability for three years of up to $50
million, subject to compliance with the covenants therein.  Any
term loans advanced under the loan facility mature on Oct. 17,
2020.  The loan facility replaces the Company's prior senior
secured bank credit facility with JPMorgan Chase Bank, N.A, which
had a borrowing base of $0, and is secured by the same collateral
that secured the prior facility.

"Having the ability to create meaningful liquidity from our asset
base is another important step towards growing the Company," said
Charles T. Goodson, chairman, chief executive officer and
president.  "Through our debt exchanges, we have extended the
maturity on or repaid over 93% of our December 31, 2015 long-term
debt.  With our debt maturities extended and enhanced liquidity
position in place, we are now focused on initiating our Cotton
Valley drilling program before the end of the year."

A full-text copy of the Multidraw Term Loan Agreement is available
for free at goo.gl/et1fZU

                      About PetroQuest

PetroQuest Energy, Inc., is an independent energy company engaged
in the exploration, development, acquisition and production of oil
and natural gas reserves in East Texas, Oklahoma, South Louisiana
and the shallow waters of the Gulf of Mexico.  PetroQuest's common
stock trades on the New York Stock Exchange under the ticker PQ.

As of June 30, 2016, Petroquest had $209 million in total assets,
$433 million in total liabilities, and a total stockholders'
deficit of $225 million.

In its quarterly report for the period ending June 30, 2016, the
Company stated, "Our substantially decreased level of capital
spending has had and is expected to continue to have a negative
impact on our production and cash flow from operating activities.
We expect production to continue to decline throughout 2016 and
when combined with current commodity prices and our existing cost
structure, including 10% interest expense on the $280 million of
debt represented by our 2017 Notes and 2021 Notes, we believe that
we will continue to incur significant losses and negative cash flow
from operating activities for the remainder of 2016.  In addition,
$136 million of the indebtedness represented by our 2017 Notes will
mature on September 1, 2017 and would be reflected as a current
liability on our September 30, 2016 balance sheet if not refinanced
prior to the filing of our Quarterly Report on Form 10-Q for the
quarterly period ended September 30, 2016, which would raise
substantial doubt about our ability to continue as a going
concern," the Company stated in its quarterly report for the period
ended June 30, 2016.

"We are evaluating additional sources of liquidity including asset
sales, joint ventures, exchange offers and alternative financing
arrangements to replace the Credit Agreement, but there is no
assurance that these sources will provide sufficient, if any,
incremental liquidity.  We are also evaluating various options to
address the September 2017 maturity of our 2017 Notes as well as
assessing our overall capital structure.  These options include
additional public or private exchanges of 2017 Notes for new
secured debt and/or common stock, refinancing the 2017 Notes with
unsecured debt and/or common stock as well as a broader
restructuring of our 2017 and 2021 Notes.  To assist the Board of
Directors and management team in evaluating these options, we have
retained Jefferies LLC and Seaport Global as our financial advisors
and Porter Hedges LLP as our legal advisor.  There is no assurance
that any refinancing or debt or equity restructuring will be
possible or that additional equity or debt financing can be
obtained on acceptable terms, if at all.  If we are unable to
improve our liquidity position, and refinance or restructure our
debt, we may seek bankruptcy protection to continue our efforts to
restructure our business and capital structure.  As a part of that
process, we may have to liquidate our assets and may receive less
than the value at which those assets are carried on our
consolidated financial statements."

                       *     *     *

As reported by the TCR on Oct. 11, 2016, S&P Global Ratings
lowered its corporate credit rating on Lafayette, La.-based
PetroQuest Energy Inc. to 'SD' from 'CC'.

PetroQuest Energy carries a Caa3 corporate family rating from
Moody's Investors Service.


PINNACLE COMPANIES: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Pinnacle Companies, Inc.
        PO Box 296
        Sulphur Springs, TX 75483

Case No.: 16-41889

Chapter 11 Petition Date: October 18, 2016

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

Judge: Hon. Brenda T. Rhoades

Debtor's Counsel: Christopher J. Moser, Esq.
                  QUILLING, SELANDER LOWNDS, WINSLETT & MOSER,
P.C.
                  2001 Bryan Street, Suite 1800
                  Dallas, TX 75201-3005
                  Tel: (214) 871-2100
                  Fax: (214)871-2111
                  E-mail: cmoser@qslwm.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $10 million to $50 million

The petition was signed by Miles J. Arnold, director

A copy of the Debtor's list of 20 largest unsecured creditors is
available for free at http://bankrupt.com/misc/txeb16-41889.pdf


PLATINUM PARTNERS: Chapter 15 Case Summary
------------------------------------------
Chapter 15 Debtors:

   Name                                             Case No.
   ----                                             --------
   Platinum Partners Value Arbitrage Fund L.P.      16-12925
   c/o Intertrust Corp Serv, 190 Elgin Ave
   Cayman Islands

   Platinum Partners Value Arbitrage Fund           16-12934
  (International) Ltd.
   c/o Intertrust Corp Serv, 190 Elgin Ave

Type of Business: Funds

Chapter 15 Petition Date: October 18, 2016

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

Authorized Representatives: Matthew James Wright and
                            Christopher Barnett Kennedy

Chapter 15 Petitioners' Counsel: Warren E. Gluck, Esq.
                                 Barbara R. Parlin, Esq.
                                 Arthur E. Rosenberg, Esq.
                                 HOLLAND & KNIGHT LLP
                                 31 W 52nd Street
                                 New York, NY 10019
                                 Tel: (212) 573-3396
                                 Fax: (212) 385-9010
                                 E-mail: warren.gluck@hklaw.com
                                         barbra.parlin@hklaw.com
                                        
arthur.rosenberg@hklaw.com

Master Fund's Total Assets: At least $1,092,668,500 as of June 30,
2016

Master Fund's Total Debts: $382,000,000 as of May 31, 2016


PONCE TACO: Hires Catherine Rodriguez as Financial Advisor
----------------------------------------------------------
Ponce Taco Maker, Corp. seeks authorization from the U.S.
Bankruptcy Court for the District of Puerto Rico to employ
Catherine Rodriguez Roman as financial advisor.

The Debtor requires Catherine Rodriguez to assist the Debtor in the
preparation of pro forma reports, and financial/business
documentation as requested for and during Debtor's Chapter 11 case,
specifically as it is related to and has an effect on Debtor, as
well as recommendations and financial/business assessments
regarding issues specifically related to Debtor and/or other
assistance in accounting, taxes and/or operational matters.

The Debtor has retained Catherine Rodriguez on the basis of
$2,500.00 for retainer, against which Catherine Rodriguez has and
will bill on the basis of $125.00 per hour, plus expenses, for work
performed or to be performed by Catherine Rodriguez, $95.00 per
hour for any CPA associate, $65.00 per hour for senior associates,
$45.00 per hour for junior associates and $35.00 per hour for any
administrative assistants.

Catherine Rodriguez Roman, Certified Public Accountant, 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.

Catherine Rodriguez Roman can be reached at:

        Catherine Rodriguez Roman
        CATHERINE RODRIGUEZ ROMAN
        405 Ave. Esmeralda, Suite 2 #421
        Guaynabo, PR 00969-4427
        Tel.: 787-998-7249
        Fax: 866-886-2741
        E-Mail: cpacrroman@gmail.com

Ponce Taco Maker, Corp., filed a Chapter 11 petition (Bankr. D.P.R.
Case No. 16-00056) on January 8, 2016, and is represented by Jesus
Santiago Malavet, Esq., at Santiago Malavet and Santiago Law
Office.


PREFERRED CONCRETE: Can Use IRS Cash Collateral Through Nov. 30
---------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Illinois
authorized Preferred Concrete & Excavating, Inc. to use the cash
collateral of Internal Revenue Service, until November 30, 2016.

The Court authorized the Debtor to use IRS' cash collateral only to
pay actual, ordinary and necessary operating expenses, as set forth
in the Debtor's Monthly Budget, which projected total expenses of
$144,698.83.

The IRS was granted valid, binding and perfected liens and security
interests on the Debtor's assets, to the same extent, validity and
priority held by the IRS pre-petition, and to the extent of the
diminution in the amount of IRS' cash collateral used by the Debtor
postpetition.

The Court directed the Debtor to make monthly adequate protection
payments to the IRS the amount of $3,348.19.

The Debtor was required to maintain insurance coverage on its
Properties and to cure any missing tax returns identified on the
IRS' Claim No. by filing such returns by the applicable due date.

A status hearing on the Debtor's use cash collateral is scheduled
on Nov. 30, 2016 at 10:30 a.m.

A full-text copy of the Second Interim Order dated September 28,
2016 is available at https://is.gd/6bm24w

              About Preferred Concrete & Excavating, Inc.

Preferred Concrete & Excavating, Inc., is a union concrete
contractor engaged in concrete in construction in Northern Illinois
and surrounding areas for the past 14 years.  The Debtor has
approximately 10 employees.

The Debtor filed for Chapter 11 bankruptcy protection (Bankr. N.D.
Ill. Case No. 16-81114) on May 4, 2016.  The petition was signed by
Gerald Hartman, president.  The Debtor is represented by O. Allan
Fridman, Esq., at the Law Office of O. Allan Fridman.  The Debtor
estimated assets at $0 to $50,000 and liabilities at $100,000 to
$500,000 at the time of the filing.


QUANTUM MATERIALS: W. C. Carson Reports 8.35% Stake as of Oct. 14
-----------------------------------------------------------------
In a Schedule 13D filed with the Securities and Exchange
Commission, W. C. Carson and Carson Diversified GP, LLC disclosed
that as of Oct. 14, 2016, they beneficially owned 27,839,500 shares
of common stock of Quantum Materials Corp. representing 8.35
percent of the shares outstanding.  Carson Haysco Holdings, LP and
Carson Diversified Investments, LP also reported beneficial
ownership of 13,919,750 common shares.  A full-text copy of the
regulatory filing is available at https://is.gd/f0ZjTz

                       About Quantum Materials

Quantum Materials Corp. and its wholly owned subsidiary, Solterra
Renewable Technologies, Inc., are headquartered in San Marcos,
Texas.  The company specializes in the design, development,
production and supply of quantum dots, including tetrapod quantum
dots, a high performance variant of quantum dots, and highly
uniform nanoparticles, using its patented automated continuous flow
production process.

Quantum Materials reported a net loss of $6.10 million on $240,800
of revenues for the year ended June 30, 2016, compared to a net
loss of $2 million on $0 of revenues for the year ended June 30,
2015.

As of June 30, 2016, Quantum Materials had $1.27 million in total
assets, $2.31 million in total liabilities and a total
stockholders' deficit of $1.04 million.

Weaver and Tidwell, L.L.P., in Houston, Texas, issued a "going
concern" qualification on the consolidated financial statements for
the year ended June 30, 2016, citing that the Company has suffered
recurring losses from operations and has an accumulated deficit
that raises substantial doubt about its ability to continue as a
going concern.


RED LOBSTER: S&P Affirms 'B-' CCR; Outlook Stable
-------------------------------------------------
S&P Global Ratings said that it affirmed its ratings, including the
'B-' corporate credit rating, on Orlando, Fla.-based seafood casual
dining restaurant operator Red Lobster Intermediate Holdings LLC.
The outlook is stable.

The rating affirmation reflects S&P's view that although leverage
increased due to its treatment of the preferred stock, S&P expects
the company will continue to generate revenue and profit growth and
maintain good liquidity for operating needs.  S&P views the
investment by one of its largest suppliers of seafood, Thai Union,
as a strategic move for Red Lobster, while providing private equity
investor Golden Gate Capital with a $575 million cash inflow.  Thai
Union Group PCL acquired a 25% stake in Red Lobster. The $575
million transaction includes the purchase of $230 million of common
shares and $345 million of convertible preferred shares, which
could represent an additional 24% stake.

Red Lobster maintains a leading competitive position in the highly
competitive and widely fragmented casual dining sector.  However,
it is not immune to the weakness in that industry, which could
worsen based on recent trends including a heavy supply of dining
options and rising food inflation costs.  S&P views the restaurant
industry as over-supplied, intensely competitive, and vulnerable to
economic downturns along with changes in consumer tastes,
discretionary income, and recently, food deflation, which makes
eating at home attractive.

Though the company's credit metrics deteriorated slightly as a
result of the transaction, Red Lobster continues to realize cost
improvements in its operations.  The company's reported quarterly
same-store sales continue to be positive, as it invested in its
menu options, reduced discounts and marketing spending, and made
changes in operating initiatives, which includes its supply chain,
labor, and technology.  S&P expects same-store sales will remain
modestly positive as the company benefits from recent operating
initiatives while continuing to promote its seafood offerings.
S&P's projected performance for the company includes these
assumptions:

   -- U.S. GDP growth of about 1.5% in 2016 and 2.4% in 2017;
   -- Same-store sales growth in the low-single digits, consistent

      with recent trends, as the company implements menu
      initiatives to drive customer traffic;
   -- No restaurant openings or closings during fiscal-year 2017;
   -- EBITDA margin in fiscal 2017 to expand modestly, from
      realizing cost savings initiatives, shrimp price deflation,
      food and labor efficiency, and benefits from premium menu
      promotions;
   -- Capital spending needs of about $65 million-$80 million
      because of additional restaurant investments in 2017;
   -- Flat to modest increase in free operating cash flow, reduced

      for increases in capital spending in 2017; however, if
      spending needs are greater than $90 million, cash flows
      could be negative;
   -- S&P's treatment of the convertible preferred shares as debt,

      which modestly increases leverage and interest expense, and
      no assumption of conversion over the near term; and
   -- S&P's expectation of no material debt reduction over the
      next two years other than the mandatory amortization.

Red Lobster has a highly leveraged capital structure as a result of
its high fixed operating lease obligation because of high rent
expense from a significant amount of sale leasebacks it completed
in fiscal 2015.  In addition, adjusted leverage includes the
preferred shares, which S&P classifies as debt because of their
long-term tenor and Thai Union holding the option to convert.  It
is S&P's belief that credit protection measures will only modestly
improve in the near term, and even then, mostly through EBITDA
growth.  For the next 12 months, S&P forecasts adjusted leverage
will remain in the low-9x range, interest coverage in the mid- to
high-1x area, and funds from operations (FFO) to total debt around
4%.

The stable outlook on Red Lobster Intermediate Holdings LLC
reflects S&P's expectation that operating performance and credit
metrics will continue to improve and the company will generate
moderate free operating cash flow and maintain adequate near-term
liquidity.

S&P could lower the rating into the 'CCC' category if it concludes
liquidity is deteriorating, cash generation looks to be negative,
and the capital structure becomes unsustainable.  One scenario
could be same-store sales trends well below S&P's expectations.
This could occur if same-store sales decline by 2% while gross
margins contract by around 200 basis points (bps) or more from
current levels.  In this scenario, increasing labor cost,
heightened competitive pressures, and volatile commodity costs more
than offset expected cost savings.  This could also occur if
restaurant improvements fail to drive traffic and improve profits.

An upgrade is unlikely over the next year given the company's
elevated debt and S&P's expectations that leverage will remain well
above 5x over the next two years.  S&P could consider an upgrade if
management significantly improves operating performance, such that
leverage decreases to below 5x on sustained basis as a result of
consistent same-store sales and EBITDA growth that continues to
beat S&P's expectations, coupled with a reduction in debt.  One
scenario could be the conversion of the preferred shares into
common equity and lack of additional re-leveraging.


RICHARD HELFAND: Hearing on Disclosure Statement Set For Nov. 23
----------------------------------------------------------------
The Hon. Robert E. Nugent of the U.S. Bankruptcy Court for the
District of Kansas will hold on Nov. 23, 2016, at 10:30 a.m. a
hearing to consider the approval of Richard Helfand and Vicki
Lieberman Helfand's disclosure statement referring to the plan of
reorganization dated Oct. 5, 2016.

Objections to the Disclosure Statement must be filed by Nov. 10,
2016.

Within 15 days after the Oct. 6, 2016 order, the Disclosure
Statement and Plan will be distributed in accordance with Fed. R.
Bankr. P. 3017(a).

Richard Helfand is the sole member of Panethiere & Helfand LLC, a
Kansas City labor law firm.

Richard Helfand and Vicki Lieberman Helfand filed for Chapter 11
bankruptcy protection (Bankr. D. Kan. Case No. 16-10175) on Feb.
17, 2016.  The Debtors filed for Chapter 11 protection to
facilitate the sale of their home in Leawood, Kansas, which was in
a foreclosure action.

Edward J. Nazar, Esq., at the Hinkle Law Firm LLC, serves as the
Debtor's counsel.


ROCKDALE MANOR: Disclosures OK'd; Plan Hearing on Dec. 22
---------------------------------------------------------
The Hon. C. Ray Mullins of the U.S. Bankruptcy Court for the
Northern District of Georgia has approved Rockdale Manor, LLC's
amended disclosure statement dated Sept. 19, 2016, referring to the
Debtor's amended Chapter 11 plan of reorganization dated Sept. 19,
2016.

A hearing on the confirmation of the Plan will be held on Dec. 22,
2016, at 11:00 a.m.  Objections to the confirmation of the Plan and
written ballots to accept or reject the Plan must be filed by Dec.
8, 2016.

As reported by the Troubled Company Reporter on Sept. 28, 2016, the
Debtor filed a first amended disclosure statement and plan of
reorganization on Sept. 19, 2016.  Under the Amended Plan, Class 3
consists of the secured claim of WARBLER Properties LLC in the
amount of $1,334,750 including principal of $1,193,041; interest of
$75,995; late fees of $324; payment of property taxes on behalf of
Debtor totaling $16,091; with interest continuing to accrue at the
per diem rate of $490 after Sept. 14, 2016; and actual collection
costs and attorneys' fees of $49,344, which the Debtor agrees will
be WARBLER's Allowed Claim (WARBLER's Claim).

WARBLER's Claim is secured by a first priority lien on the
Property.  If the Debtor can either sell the Property or refinance
the Property by Dec. 5, 2016, where enough proceeds are realized to
pay WARBLER in full, Debtor will be able to retire the debt to
WARBLER.  If the Debtor fails to sell or refinance the Property by
Dec. 5, 2016, then such failure will be considered an Event of
Default.

On Dec. 16, 2016, the plan proponent will file a report of
balloting with the Clerk of the Bankruptcy Court.

                       About Rockdale Manor

Rockdale Manor, LLC, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Ga. Case No. 16-59888) on June 6,
2016, and is represented by Evan M. Altman, Esq., in Atlanta,
Georgia.  The petition was signed by Kenneth Huffman, managing
member.

The Debtor's primary asset is its ownership interest in a shopping
center located at 4545 South Main Street, in Acworth, Georgia.

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


SAM BASS: U.S. Trustee Unable to Appoint Committee
--------------------------------------------------
The Office of the U.S. Trustee on Oct. 18 disclosed in a court
filing that no official committee of unsecured creditors has been
appointed in the Chapter 11 case of Sam Bass Illustration & Design,
Inc.

            About Sam Bass Illustration & Design

Sam Bass Illustration & Design, Inc., filed a chapter 11 petition
(Bankr. M.D.N.C. Case No. 16-51021) on Oct. 3, 2016.  The petition
was signed by Denise W. Bass, co-owner and secretary/treasurer.
The Debtor is represented by Kristen Scott Nardone, Esq., at Davis
Nardone, PC.  The Debtor estimated assets at $0 to $50,000 and
liabilities at $100,001 to $500,000 at the time of the filing.


SANTANDER HOLDINGS: Moody's Cuts Rating on Preferred Stock to Ba3
-----------------------------------------------------------------
Moody's Investors Service downgraded the senior unsecured debt and
non-cumulative preferred stock ratings of Santander Holdings USA,
Inc. (SHUSA) to Baa3 from Baa2, and to Ba3(hyb) from Ba2(hyb),
respectively. SHUSA is the US holding company of Spanish bank Banco
Santander, S.A. (deposits A3 stable, senior unsecured (P)A3, BCA
baa1).

The rating agency also downgraded the standalone baseline credit
assessment (BCA) of SHUSA's lead US bank subsidiary, Santander
Bank, N.A., to baa2 from baa1.  At the same time, Moody's affirmed
the following ratings/assessments of Santander Bank: A2/Prime-1
deposit ratings; Baa2 issuer, senior unsecured and subordinate
ratings; baa1 adjusted BCA; and A3(cr)/Prime-2(cr) Counterparty
Risk (CR) Assessments.

Following the rating actions, the rating outlook on SHUSA and
Santander Bank is stable.

The ratings of SHUSA's Puerto Rico bank subsidiary, Banco Santander
Puerto Rico (A2/Prime-1 deposits, ba3 BCA, baa1 adjusted BCA), were
unaffected by the actions.

                          RATING RATIONALE

The downgrade of SHUSA's debt ratings was driven by the weakening
standalone credit strength of SHUSA's lead bank, Santander Bank, as
reflected by Moody's downgrade of the bank's standalone BCA to baa2
from baa1.  The lower BCA primarily reflects the bank's poor
profitability, which hampers its ability to protect its strong
capital ratios in times of stress.

The bank's core profitability ratio, which the rating agency
defines as pre-provision income as a percentage of average
risk-weighted assets, has been a depressed 0.60% since the
beginning of 2015, well below that of most US bank peers.  This
relative weakness is driven by Santander Bank's low net interest
margin and weak operating efficiency.

The bank's margin, which was a low 2.2% in the first half of 2016,
is weighed down by higher funding costs relative to peers. Although
largely deposit-funded, Santander Bank's funding profile is weaker
than its peers because of its higher reliance on non-core funding,
including non-core deposits and other borrowings.
Regarding Santander Bank's efficiency ratio, it was a high 85%
during the first half of 2016.  In recent years, growth in
non-interest expenses has noticeably outpaced revenue growth.  This
disparity has been caused by heightened expenses, largely in
response to deficiencies raised by the Federal Reserve as part of
SHUSA's Comprehensive Capital Analysis and Reviews (CCAR) and in
formal written agreements.  These expenses include elevated
remediation expenses and costs to enhance and build out
processes/infrastructure.

Despite the downgrade of Santander Bank's BCA, Moody's affirmed the
bank's baa1 adjusted BCA and deposit and debt ratings because they
take into account the high probability of support from its ultimate
parent, Banco Santander, S.A.

SHUSA's debt ratings also incorporate a high probability of
parental support, which results in a one-notch uplift in the
ratings.

Moody's added that the downgrade of SHUSA's ratings takes into
account the recent accounting and financial reporting problems at
its majority-owned auto finance company, Santander Consumer USA
Holdings Inc. (unrated).  Specifically, SHUSA is in the process of
restating numerous financial statements primarily from the
correction of errors in Santander Consumer's accounting for retail
installment contracts and the related allowance for loan losses.
SHUSA also expects to report the existence of additional material
weaknesses in internal controls over financial reporting, beyond
those reported in previous filings.

Following the actions, the rating outlook on SHUSA and Santander
Bank is stable, primarily reflecting the company's strong capital
ratios, good liquidity and sound asset quality metrics.

Factors that Could Lead to an Upgrade

SHUSA's successful remediation of its current regulatory
deficiencies and a sustained period without further process or
control issues would be positive.  This would also likely lead to
improvement in Santander Bank's profitability metrics, which could
lead to upward movement on the bank's standalone BCA and, in turn,
SHUSA debt ratings.

Factors that Could Lead to a Downgrade

A significant deterioration in Santander Bank's capital ratios,
which are currently a credit strength, could lead to downward
movement on the bank's standalone BCA and deposit and debt
ratings.

SHUSA's debt ratings could be downgraded if growth at Santander
Consumer dilutes SHUSA's overall credit profile by becoming a much
larger contributor of assets and/or earnings, or if the accounting
and financial reporting problems are not resolved in a timely
manner, restricting Santander Consumer's access to
funding/liquidity.

Issuer: Santander Bank, N.A.

Downgrades:
  Baseline Credit Assessment, to baa2 from baa1

Affirmations:
  Long Term Deposit Rating, A2
  Short Term Deposit Rating, P-1
  Issuer Rating, Baa2
  Senior Unsecured Regular Bond/Debenture, Baa2
  Subordinate Regular Bond/Debenture, Baa2
  Adjusted Baseline Credit Assessment, baa1
  Long Term Counterparty Risk Assessment, A3(cr)
  Short Term Counterparty Risk Assessment, P-2(cr)

Outlook Actions:
  Outlook, Remains Stable

Issuer: Santander Holdings USA, Inc.

Downgrades:
  Senior Unsecured Regular Bond/Debenture, to Baa3 from Baa2
  Senior Unsecured Shelf, to (P)Baa3 from (P)Baa2
  Pref. Stock Non-cumulative Preferred Stock, to Ba3(hyb) from
   Ba2(hyb)

Outlook Actions:
  Outlook, Changed To Stable from Negative

Issuer: Sovereign Capital Trust VI

Downgrades:
  BACKED Pref. Stock Preferred Stock, to Ba2(hyb) from Ba1(hyb)
  BACKED Pref. Stock Shelf, to (P)Ba2 from (P)Ba1

Issuer: Sovereign Real Estate Investment Trust

Affirmations:
  Pref. Stock Non-cumulative Preferred Stock, Ba1 (hyb)

The principal methodology used in these ratings was "Banks"
published in January 2016.


SAUK PRAIRIE: Moody's Lowers Rating on Revenue Bonds to B1
----------------------------------------------------------
Moody's Investors Service downgrades Sauk Prairie Memorial
Hospital, Inc.'s (now Sauk Prairie Healthcare, Inc., SPH) revenue
bonds to B1 from Ba1.  This action affects $38 million of Series
2013A fixed rate bonds issued by the Wisconsin Health and
Educational Facilities Authority.  The outlook remains negative.

The severity of the downgrade to B1 reflects a material reduction
in headroom to covenants and elevated risk of debt acceleration,
following a marked decline in financial performance and relative
liquidity metrics.  Additional challenges include the system's
vulnerability as a small provider with close proximity to larger
healthcare systems in Madison (WI), and high leverage which limits
bondholder recovery rates in the event of default and debt
acceleration.

Positive factors that mitigate a further downgrade include the
system's leading market position, stable absolute wealth levels,
defined contribution pension plan, and limited capital spending
plans in the near term given completion of the replacement
hospital.

                            Rating Outlook

The outlook is negative given Moody's expectation that SPH will
continue to experience financial pressure in the near term as it
works to improve operating performance and reduce expenses, placing
pressure on already very thin headroom to the liquidity and fixed
charge ratio covenants and increasing likelihood of a breach.

Factors that Could Lead to an Upgrade

  Restored and sustained operating margins at levels consistent
   with FY 2012 performance

  Material improvement in balance sheet and debt metrics
  Significant enterprise and market share growth

Factors that Could Lead to a Downgrade
  Reduced covenant headroom or covenant violation
  Failure to improve current margins or further decline in cash
   flow
  Weakening of liquidity and debt metrics

                           Legal Security

The Series 2013A bonds are secured by a joint and several security
interest in Pledged Revenues of the Obligated Group and a mortgage
on SPH.  Sauk Prairie Memorial Hospital, Inc. is the only member of
the Obligated Group.  A debt service reserve fund (DSRF) is in
place.

Use of Proceeds
Not applicable.

Obligor Profile
SPH is a 36 staffed bed, 1,700 admission hospital located in the
Village of Prairie du Sac, WI.  Prairie du Sac is located
approximately 27 miles northwest of downtown Madison.  While SPH
competes with the three health systems based in Madison, the
hospital also maintains referral partnerships with all three
Madison providers and contracts with each of their respective
provider-owned health plans.

Methodology

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



SECURED ASSETS BELDEVERE: Selling 2 Condo Units in Reno for $214K
-----------------------------------------------------------------
Secured Assets Belvedere Tower, LLC ("SABT"), asks the Bankruptcy
Court for the District of Nevada to authorize the sale of two
condominium units located within The Belvedere, 450 N. Arlington
Ave., Reno, Nevada: Unit 914 to Joe and Kathryn Nazar ("Unit 914
Proposed Buyers") for $85,000, and Unit 505 to Xiaodong Sun and
Lietai Yang ("Unit 505 Proposed Buyers") for $129,000, subject to
overbid.

On Sept. 19, 2016, SABT filed a voluntary petition for relief under
Chapter 11 of the Bankruptcy Code.  In Schedule A, SABT disclosed
an interest in approximately 120 condominium units located in the
real property located at 450 N. Arlington Ave., Reno, Nevada,
commonly known as The Belvedere.

The Debtor listed its interest in the property at $18,500,000 with
an approximate secured claim against the property in the amount of
$9,250,000.  Belvedere Debtor Holdings, LLC ("BDH") is the secured
creditor for the majority of the Debtor's condominium units.

On May 16, 2012, SABT borrowed funds from GreenLake Real Estate
Fund, LLC, which was evidenced by a Promissory Note Secured by A
Deed of Trust ("Note").  The Note was secured by a First Priority
Deed of Trust, Security Agreement, Assignment of Rents and Leases
and Fixture Filing, also dated May 16, 2012 ("Deed of Trust") for
the benefit of Greenlake.  The Deed of Trust was recorded on May
18, 2012 as Document No. 4113965 with Official Records, Washoe
County and included both Unit 914 and Unit 505.  Thereafter, the
Note and Deed of Trust were amended several times.

In 2013, SABT and another entity, BTM, LLC, signed a Second Amended
Promissory Note, dated June 26, 2013 evidencing that both SABT and
BTM were co-borrowers on the entirety of the loan.  Both SABT's
units and BTM's units served as collateral for the entire amount of
the Second Amended Deed of Trust.

On Dec. 17, 2014, Greenlake executed an Allonge and Assignment of
the Note, the First Amended Note, Second Amended Note, and the Deed
of Trust, First Amended Deed of Trust and Second Amended Deed of
Trust ("Allonge and Assignment") to BDH.  The Allonge and
Assignment were recorded on Oct. 8, 2105 as Document No. 4521530
with Official Records, Washoe County.

Prior to filing its Petition, the Debtor and BTM started a sales
program targeted at selling condominium units at The Belvedere and
engaged Dickson Realty, Inc., to handle sales and marketing of all
condominium units located at the property.  The Debtor and BTM
worked with Dickson Realty to determine minimum listing prices for
all of the units that make up BDH's collateral ("Pricing List").
The prices in the Pricing List are based on various characteristics
of each condominium unit, including location and size.

Between April and Sept. 16, 2016, the Debtor sold five condominium
units to unaffiliated third-party buyers that generated $534,483 in
net sale proceeds paid to directly to BDH from the sale of the
Debtor's units, as follows:

    a. Unit 508: $118,500 on April 11; BDH paid $109,742 in net
sale proceeds;
    b. Unit 411: $125,000 on June 6; BDH paid $106,896 in net sale
proceeds;
    c. Unit 1010: $150,500 on July 15; BDH paid $130,460 in net
sale proceeds;
    d. Unit 811: $141,500 on Aug. 12; BDH paid $129,535 in net sale
proceeds;
    e. Unit 301: $65,000 on Sept. 16; BDH paid $57,849 in net sale
proceeds.

Additionally, unit 1408, which was owned by BTM, was sold to a
third-party buyer on Sept. 16, 2016 for $159,500.  The settlement
statement reveals that BDH was paid $143,786 in net sale proceeds.
In sum, BDH has received $678,269 since April 2016 towards its Note
and Deed of Trust.

On Sept. 7, 2016, the Debtor signed a renewal of a six-month
Exclusive Right to Sell Contract with Mandie Jensen of Dickson
Realty — Laughlin for the sale of condominium units at the
property ("Unit 914 Listing Agreement").  The Listing Agreement
provides, subject to the Court's approval, for a commission of 6%
of the gross sales price of each Unit, which commission will be due
and payable only upon the closing of an approved sale.  The
commission rate is the customary rate charged by Ms. Jensen and
Dickson Realty.  Ms. Jensen has been a real estate agent since 2003
and has 13 years of experience marketing residential real estate
and land in the Northern Nevada Area.

The Debtor asks the Court to authorize the employment of Dickson
Realty — Caughlin to act as the Debtor's property broker to sell
Unit 914 and Unit 505 at the property.  The Debtor further seeks
approval from the Court to pay Dickson Realty — Laughlin directly
from escrow upon successful closing of the sale of Unit 914 and/or
Unit 505, as approved, without the necessity of filing a fee
application.

On April 28 2016, Ms. Jensen listed Unit 914 for sale on the
Multiple Listing Service ("MLS") with a listing price of $92,000.
On Oct. 3, 2016, the Debtor finalized an agreement to sell Unit 914
to the Unit 914 Proposed Buyers for $85,000. The proposed sale
price for Unit 914 is reasonably within or not materially less than
the parameters set by the Debtor and BTM in the Pricing List.

The salient terms of the Unit 914 Purchase Agreement are:

    a. The offer is an all cash offer that is not contingent on an
appraisal;

    b. The Debtor will pay all title costs and transfer taxes but
the Debtor and the Proposed Buyers will share equally in escrow
costs;

    c. The Proposed Buyers must verify available cash and submit
the $1,000 deposit;

    d. The sale will close by Oct. 17, 2016 or as soon as possible
after Court approval;

    e. The sale is subject to (i) Court approval and (ii) possible
overbid pursuant to bidding procedures as set forth in the Sale
Motion; and

    f. A commission of 6% percent of the total purchase price will
be paid to the brokers from the proceeds of the sale.

On Sept. 23, 2016, Ms. Jensen listed Unit 505 for sale on the MLS
with a listing price of $130,000.  On Oct. 7, 2016, the Debtor
received an offer to purchase Unit 505 for $120,000.  On Oct. 8,
2016, the Debtor finalized an agreement to sell Unit 505 to the
Unit 505 Proposed Buyers for $129,000, with the Debtor to provide a
$4,500 credit towards recurring and non-recurring closing costs
and/or HOA dues.  The proposed sale price for Unit 505 is
reasonably within or not materially less than the parameters set by
the Debtor and BTM in the Pricing List.

The salient terms of the Unit 505 Purchase Agreement are:

    a. The offer is an all cash offer that is not contingent on an
appraisal;

    b. The Debtor and the Proposed Buyers will share equally the
escrow, transfer tax and title costs;

    c. The Proposed Buyers must verify available cash and submit
the $1,000 deposit;

    d. The sale will close by Oct. 20, 2016 or as soon as possible
after Court approval;

    e. The sale is subject to (i) Court approval and (ii) possible
overbid pursuant to bidding procedures as set forth in the Sale
Motion; and

    f. A commission of 6% of the total purchase price shall be paid
to the brokers from the proceeds of the sale.

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

     http://bankrupt.com/misc/Secured_Assets_52_Sales.pdf

The Debtor respectfully requests that the Court approve the
"Bidding Procedures" for use in conducting the sale:

    a. Pre-Qualification: Any interested bidder who can pay the
balance of purchase price for property or produce sufficient funds
to the Debtor to close the sale.

    b. Bidding and Sale Hearing: A hearing will be conducted at the
U.S. Bankruptcy Court for the District of Nevada, 300 Booth Street,
Fifth Floor, Courtroom  1, Reno, Nevada, 89509.

    c. The Unit 914 Proposed Buyers' $85,000 offering price will be
the opening bid at the auction and the sale is to be approved for
an amount not less than $85,000.  The initial overbid increment
will be at least $5,000, resulting in a minimum $90,000 or more
purchase price in the event of an overbid.  Subsequent bids will be
accepted in increments of $1,000.  The final purchase price will be
the highest qualified bid offered over the opening bid price and
accepted at the auction.

    d. The Unit 505 Proposed Buyers' $129,000 offering price will
be the opening bid at the auction and the sale is to be approved
for an amount not less than $129,000.  The initial overbid
increment will be at least $5,000, resulting in a minimum $134,000
or more purchase price in the event of an overbid.  Subsequent bids
will be accepted in increments of $1,000.  The final purchase price
will be the highest qualified bid offered over the opening bid
price and accepted at the auction.

    e. Closing: Closing will take place as soon as possible after
the Court's order approving the Sale Motion is entered but no more
than 7 days from the date of entry of a final order approving the
sale to close the transaction, including paying the balance of the
purchase price and executing all necessary documents.

The Debtor submits that it has adequately articulated business
justification for the proposed sales and that the sale is in the
best interests of the estate and its creditors.  The Debtor
requests that the Court approve the sale free and clear of all
liens, claims and encumbrances, with all liens to attach to
proceeds of sale and to retain their order of priority, which will
be held in the Debtor's attorneys' client trust account pending
further order of the Court.

The Debtor asks the Court to order that the proposed sales are not
stayed pursuant to Fed. R. Bankr. Pro. 6004(h).

               About Secured Assets Belvedere Tower

Reno, Nevada-based Secured Assets Belvedere Tower, LLC, filed a
chapter 11 petition (Bankr. D. Nev. Case No. 16-51162) on Sept. 19,
2016.  The petition was signed by Gregg Smith.  The Debtor is
represented by Elizabeth A. High, Esq., and Cecilia Lee, Esq., at
Davis Graham & Stubbs LLP.  The case is assigned to Judge Gregg W.
Zive.  

The Debtor is a single asset real estate company.  The Debtor
disclosed total assets at $20.4 million and total liabilities at
$18.5 million.


SILVER LAKE: Wants Approval to Use PCI Silver Lake Cash Collateral
------------------------------------------------------------------
Silver Lake L.P. asks the U.S. Bankruptcy Court for the Northern
District of Indiana for authorization to use cash collateral.  

The Debtor is indebted to PCI Silver Lake LLC in the approximate
amount of $1,880,398.  PCI Silver Lake asserts a mortgage on the
real estate owned by the Debtor, including all rents and proceeds
thereof.

The Debtor tells the Court that there is an immediate need for the
Debtor to use cash collateral in the operation of its business
including funds presently held in deposit accounts in order to pay
its employees and to preserve the value of the ongoing business.

The Debtor's proposed Budget covers a period of five weeks,
beginning on Oct. 18, 2016 and ending on Nov. 20, 2016.  The Budget
provides for total expenses in the amount of $5,415 for Oct. 18,
2016 to Oct. 23, 2016; $2,415 for Oct. 24, 2016 to Oct. 30, 2016;
$8,790 Oct. 31, 2016 to Nov. 6, 2016; and $5,515 for each of the
weeks Nov. 7, 2016 to Nov. 13, 2016 and Nov. 14, 2016 to Nov. 20,
2016.

The Debtor proposes to grant PCI Silver Lake a replacement lien on
rents, to the full extent of the value of its lien at the
commencement of the case.

A full-text copy of the Debtor's Motion, dated Oct. 17, 2016, is
available at
http://bankrupt.com/misc/SilverLakeLP2016_1612195reg_7.pdf

Silver Lake L.P. is represented by:

          Daniel J. Skekloff, Esq.
          HALLER & COLVIN, PC
          444 E. Main Street
          Fort Wayne, IN 46802
          Telephone: (260) 426-0444
          E-mail: dskekloff@hallercolvin.com

                About Silver Lake L.P.

Silver Lake L.P., formerly doing business as Silver Lake Group of
Angola, L.P., filed a chapter 11 petition (N.D. Ind. Case No,
16-12195) on Oct. 17, 2016.  The petition was signed by Mark D.
Krueger, general partner.  The Debtor is represented by Daniel J.
Skekloff, Esq., and Scot T. Skekloff, Esq., at Haller & Colvin, PC.
The case is assigned to Judge Robert E. Grant.  The Debtor
estimated assets and liabilities at $1 million to $10 million at
the time of the filing.


SLEEP DOCTOR: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Sleep Doctor, LLC
        3755 Broadmoor, Suite F
        Grand Rapids, MI 49512

Case No.: 16-05292

Chapter 11 Petition Date: October 18, 2016

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

Judge: Hon. James W. Boyd

Debtor's Counsel: Todd A. Almassian, Esq.
                  KELLER & ALMASSIAN, PLC
                  230 East Fulton St.
                  Grand Rapids, MI 49503
                  Tel: (616) 364-2100
                  E-mail: ecf@kalawgr.com

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

Estimated Liabilities: $1 million to $10 million

The petition was signed by Roger A. Wardell, managing member.

A copy of the Debtor's list of 20 largest unsecured creditors is
available for free at http://bankrupt.com/misc/miwb16-05292.pdf


SMART & FINAL: S&P Affirms 'B+' CCR & Revises Outlook to Negative
-----------------------------------------------------------------
S&P Global Ratings revised its outlook on Smart & Final Stores Inc.
to negative from stable and affirmed its 'B+' corporate credit
rating on the company.

At the same time, S&P affirmed its 'BB' issue-level rating on the
company's senior secured asset-backed lending facility (ABL).  The
'1' recovery rating, which indicates S&P's expectation of very high
(90% to 100%) recovery in the event of a payment default, is
unchanged.

S&P also affirmed the 'B+' issue-level rating on the company's
secured first-lien term loan.  The '3' recovery rating, which
indicates S&P's expectation of meaningful recovery (at the higher
end of the 50% to 70% range), remains unchanged.

"The outlook revision reflects our expectation that persistent food
deflation is increasing the risk that credit measures will remain
stretched for credit ratings in the coming year," said S&P Global
Ratings credit analyst Declan Gargan.  "Credit measures in the
first half of fiscal 2016 deteriorated due largely to lower food
prices and cannibalization from the acquisition of 33 Haggen stores
in 2015.  While deflation continues to impact nearly all food
retailers, Smart & Final has been particularly hard hit because of
its product mix, which skews heavily toward categories that have
experienced the steepest price declines, such as eggs and
proteins."

The ratings on Smart & Final also reflect its small market position
in an intensely competitive industry and highly concentrated
geographic footprint in California.  Offsetting this is its
differentiated, value-oriented merchandising strategy that attracts
a broad customer base.  The company's stores, under both the Smart
& Final and Cash & Carry banners, offer a selection of perishables,
national and private label grocery items, and foodservice products
in both traditional and club-pack sizes in a no-fee, smaller-box
format that serves both household and business customers.  S&P
believes this value proposition remains intact and its low prices,
product size diversity, and convenient store format positions it to
continue to take share from traditional food retailers.  However,
S&P notes the Southern California market has become increasingly
saturated with the rapid expansion of new entrants, which could
lead to a heightened promotional environment and strain
profitability.

The negative outlook on Smart & Final indicates that S&P could
lower its ratings over the next 12 months if near-term pressures
impacting operating performance intensify or persist longer than we
anticipate, causing operating results to remain challenged and
leading to an inability to reduce leverage from current levels.

S&P would likely consider a lower rating if it no longer believes
Smart & Final will be able to improve leverage below 6x by fiscal
year-end 2017.  For this to occur, S&P would expect intensifying
levels of competition, protracted food deflation, or unsuccessful
new store expansion to pressure sales growth, strain gross margins,
and cause earnings growth to slow to the low-single digits.

S&P would consider revising the outlook to stable if near-term
pressures abate faster than S&P anticipates, leading to a sustained
improvement in operating performance and causing credit protection
metrics to strengthen.  Under this scenario, food deflation would
ease, leading to positive comparable-store sales, gross margins
stabilizing in the mid-16% range, and earnings growth of at least
10%, resulting in debt to EBITDA approaching 5.5x in fiscal year
2017 and further improvement is anticipated. Additionally, the
company would need to continue to demonstrate that it is committed
to maintaining a financial policy that would allow it to maintain
credit metrics at these levels on an ongoing basis.



SNAP INTERACTIVE: Chairman Reports 14.1% Stake as of Oct. 7
-----------------------------------------------------------
In a Schedule 13D filed with the Securities and Exchange
Commission, Jason Katz reported that as of Oct. 7, 2016, he
beneficially owns 33,159,094 shares of common stock of Snap
Interactive, Inc., representing 14.1 percent of the shares
outstanding.  Judy Katz also disclosed beneficial ownership of
7,044,250 common shares.

Jason Katz is the founder and chief executive Officer of A.V.M.
Software, Inc.  AVM became a wholly-owned subsidiary of the Snap
Interactive on Oct. 7, 2016, as a result of the consummation of the
transactions contemplated by that certain Agreement and Plan of
Merger, dated as of Sept. 13, 2016, by and between the Company,
SAVM Acquisition Corporation (a wholly-owned subsidiary of the
Issuer that was merged into AVM), AVM, and Jason Katz as the
representative of the stockholders of AVM.  In connection with the
closing of the Merger, Mr. Katz became the Chairman of the Board of
Directors, president and chief operating officer of the Snap
Interactive.  Judy Katz is the spouse of Jason Katz.

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

                    https://is.gd/tLcR5B

                  About Snap Interactive

Snap Interactive, Inc. -- http://www.snap-interactive.com/--
develops, owns and operates dating applications for social
networking websites and mobile platforms.  The Grade is a
patent-pending mobile dating application catering to high-quality
singles.  SNAP's flagship brand, FirstMet, is a multi-platform
online dating site with a large user database of approximately 30
million users.

As of June 30, 2016, Snap Interactive had $2.86 million in total
assets, $6.58 million in total liabilities, and a total
stockholders' deficit of $3.71 million.

The Company reported a net loss of $1.29 million in 2015 following
a net loss of $1.65 million in 2014.

Marcum LLP, in New York, NY, issued a "going concern" qualification
on the consolidated financial statements for the year ended Dec.
31, 2015, citing that the Company has incurred net losses and needs
to raise additional funds to meet its obligations and sustain its
operations.  These conditions raise substantial doubt about the
Company's ability to continue as a going concern.


SNAP INTERACTIVE: J. Crew Holds 35.1% Stake as of Oct. 7
--------------------------------------------------------
In a Schedule 13D filed with the Securities and Exchange
Commission, The J. Crew Delaware Trust A disclosed that as of
Oct. 7, 2016, it beneficially owns 82,464,588 shares of common
stock of Snap Interactive, Inc., representing 35.1 percent of the
shares outstanding.

The Reporting Person acquired its interest in the securities in
connection with the consummation of the merger contemplated by that
certain Agreement and Plan of Merger, dated as of Sept. 13, 2016,
by and between the Company, SAVM Acquisition Corporation (a
wholly-owned subsidiary of the Issuer that was merged into AVM),
A.V.M. Software, Inc., and Jason Katz as the representative of the
stockholders of AVM.  On Oct. 7, 2016, Snap Interactive consummated
the Merger pursuant to the terms and conditions of the Merger
Agreement.  In connection with the Merger, the Reporting Person
received 82,464,588 shares of Common Stock based on the Reporting
Person's ownership of common stock of AVM at the time of the
Merger.

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

                   https://is.gd/xREuej

                  About Snap Interactive

Snap Interactive, Inc. -- http://www.snap-interactive.com/--
develops, owns and operates dating applications for social
networking websites and mobile platforms.  The Grade is a
patent-pending mobile dating application catering to high-quality
singles.  SNAP's flagship brand, FirstMet, is a multi-platform
online dating site with a large user database of approximately 30
million users.

As of June 30, 2016, Snap Interactive had $2.86 million in total
assets, $6.58 million in total liabilities, and a total
stockholders' deficit of $3.71 million.

The Company reported a net loss of $1.29 million in 2015 following
a net loss of $1.65 million in 2014.

Marcum LLP, in New York, NY, issued a "going concern" qualification
on the consolidated financial statements for the year ended Dec.
31, 2015, citing that the Company has incurred net losses and needs
to raise additional funds to meet its obligations and sustain its
operations.  These conditions raise substantial doubt about the
Company's ability to continue as a going concern.


SNAP INTERACTIVE: Jen-Jen Yeh Reports 5.5% Stake as of Oct. 7
-------------------------------------------------------------
In a Schedule 13G filed with the Securities and Exchange
Commission, Jen-Jen Yeh disclosed that as of Oct. 7, 2016, she
beneficially owns 12,924,617 shares of common stock of Snap
Interactive, Inc., representing 5.5 percent of the shares
outstanding.  A full-text copy of the regulatory filing is
available for free at https://is.gd/HtnlIG

                    About Snap Interactive

Snap Interactive, Inc. -- http://www.snap-interactive.com/--
develops, owns and operates dating applications for social
networking websites and mobile platforms.  The Grade is a
patent-pending mobile dating application catering to high-quality
singles.  SNAP's flagship brand, FirstMet, is a multi-platform
online dating site with a large user database of approximately 30
million users.

As of June 30, 2016, Snap Interactive had $2.86 million in total
assets, $6.58 million in total liabilities, and a total
stockholders' deficit of $3.71 million.

The Company reported a net loss of $1.29 million in 2015 following
a net loss of $1.65 million in 2014.

Marcum LLP, in New York, NY, issued a "going concern" qualification
on the consolidated financial statements for the year ended Dec.
31, 2015, citing that the Company has incurred net losses and needs
to raise additional funds to meet its obligations and sustain its
operations.  These conditions raise substantial doubt about the
Company's ability to continue as a going concern.


SNAP INTERACTIVE: Lance Laifer Holds 6% Stake as of Oct. 7
----------------------------------------------------------
In a Schedule 13D filed with the Securities and Exchange
Commission, Lance Laifer and Laifer Capital Management, Inc.
disclosed that as of Oct. 7, 2016, they beneficially owned
14,082,382 shares of common stock of Snap Interactive, Inc.,
representing 6 percent of the shares outstanding.  Hilltop
Partners, L.P. also reported beneficial ownership of 13,575,382
common shares.

Mr. Laifer became a director of Snap Interactive on Oct. 7, 2016,
upon the consummation of the transactions contemplated by that
certain Agreement and Plan of Merger, dated as of Sept. 13, 2016,
by and between Snap Interactive, SAVM Acquisition Corporation (a
wholly-owned subsidiary of the Issuer), A.V.M. Software, Inc., and
Jason Katz as the representative of the stockholders of AVM.  Mr.
Laifer previously served as a member of the Board of Directors of
AVM since 1999.  Mr. Laifer has also served as the chief executive
officer of LCM, a hedge fund incorporated in the State of Delaware,
since 1992.  Hilltop Partners is a limited partnership formed in
the State of Delaware.

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

                     https://is.gd/OBtaE2

                    About Snap Interactive

Snap Interactive, Inc. -- http://www.snap-interactive.com/--
develops, owns and operates dating applications for social
networking websites and mobile platforms.  The Grade is a
patent-pending mobile dating application catering to high-quality
singles.  SNAP's flagship brand, FirstMet, is a multi-platform
online dating site with a large user database of approximately 30
million users.

As of June 30, 2016, Snap Interactive had $2.86 million in total
assets, $6.58 million in total liabilities, and a total
stockholders' deficit of $3.71 million.

The Company reported a net loss of $1.29 million in 2015 following
a net loss of $1.65 million in 2014.

Marcum LLP, in New York, NY, issued a "going concern" qualification
on the consolidated financial statements for the year ended Dec.
31, 2015, citing that the Company has incurred net losses and needs
to raise additional funds to meet its obligations and sustain its
operations.  These conditions raise substantial doubt about the
Company's ability to continue as a going concern.


SNEED SHIPBUILDING: Premium Finance Agreement With IPFS Credit OK
-----------------------------------------------------------------
Judge David R. Jones of the U.S. Bankruptcy Court for the Southern
District of Texas authorized Sneed Shipbuilding, Inc., to enter
into a Premium Finance Agreement with IPFS Credit Corporation.

IPFS Credit Corporation is granted a first priority security
interest in the Policies including:

     (1) all money that is or may become due under the Agreement
because of a loss under the Policies that reduces unearned
premiums;

     (2) any return of premiums or unearned premiums under the
Policies; and

     (3) any dividends that may become due the Debtors in
connection with the Policies.

Judge Jones held that the Lien granted to IPFS Credit Corporation
in connection with the Policies will be senior to any security
interests and liens granted to other secured creditors in the
Debtor's case.

Judge Jones further held that in the event that returned or
unearned premiums or other amounts due under the Policies are
insufficient to pay the total amount owed by the Debtor to IPFS
Credit Corporation, any remaining amount owing to IPFS Credit
Corporation, including reasonable attorneys' fees and costs, will
be an allowed claim in the case with priority as an administrative
expense.

A full-text copy of the Order, dated Oct. 17, 2016, is available at
http://bankrupt.com/misc/SneedShipbuilding2016_1660014_221.pdf

                About Sneed Shipbuilding

Sneed Shipbuilding, Inc., sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. Tex. Case No. 16-60014) on March 4,
2016.  The petition was signed by Clyde E. Sneed, president.

The Debtor is represented by Amber Michelle Chambers, Esq., Eric
Michael VanHorn, Esq., and Nicholas Zugaro, Esq., at McCathern,
PLLC.  The case is assigned to Judge David R. Jones.

The Debtor estimated assets of $1 million to $10 million and debts
of $10 million to $50 million.

The Office of the U.S. Trustee appointed five creditors of Sneed
Shipbuilding, Inc., to serve on the official committee of unsecured
creditors.  The committee members are: (1) Triple-S Steel Supply
Co.; (2) New Industries, L.L.C.; (3) NC Receivables Corporation;
(4) Contractors Building Supply Co., L.L.C.; and (5) Central Boat
Rentals, Inc.


SUNEDISON INC: Committee Retains Kobre & Kim as Conflicts Counsel
-----------------------------------------------------------------
The Official Committee of Unsecured Creditors of SunEdison, Inc.,
seeks authorization from the U.S. Bankruptcy Court for the Southern
District of New York to retain Kobre & Kim LLP as Conflicts
Counsel, nunc pro tunc to September 15, 2016.

The Committee requires Kobre & Kim to:

     (a) serve as lead trial counsel in prosecuting the Proposed
Complaint;

     (b) represent the Creditors' Committee as conflicts counsel in
hearings and other judicial proceedings with regard to the merits
of the Creditors' Committee Litigation;

     (c) consult with the Creditors' Committee, the Debtors, and
any other potential defendants in the Creditors' Committee
Litigation with respect to the Proposed Complaint, and the U.S.
Trustee, concerning the Creditors' Committee Litigation;

     (d) represent the Creditors' Committee as conflicts counsel
with respect to any objections to the Debtors' prepetition secured
lenders' claims against the Debtors; and

     (e) in each of (a) through (d), proceed in a manner that
avoids unnecessary duplication of the work of any other advisor to
the Creditors' Committee.

Kobre & Kim will be paid at these hourly rates:

        Partners              $975 - $1,200
        Principals            $825
        Associates            $650
        Paraprofessionals     $195 - $485

Kobre & Kim will also be reimbursed for expenses incurred in
connection with its representation of the Creditors' Committee.

Michael S. Kim, Esq., member of the firm of Kobre & Kim, 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.

Kobre & Kim ca be reached at:

         Michael S. Kim
         KOBRE & KIM LLP
         800 Third Avenue
         New York, N.Y. 10022
         Phone: +1 212 488 1200
         Email: michael.kim@kobrekim.com

               About SunEdison, Inc.

SunEdison, Inc. (OTC PINK: SUNEQ), is a developer and seller of
photovoltaic energy solutions, an owner and operator of clean power
generation assets, and a global leader in the development,
manufacture and sale of silicon wafers to the semiconductor
industry.

On April 21, 2016, SunEdison, Inc., and 25 of its affiliates each
filed a Chapter 11 bankruptcy petition (Bankr. S.D.N.Y. Case Nos.
16-10991 to 16-11017). Martin H. Truong, the senior vice president,
general counsel and secretary, signed the petitions.

The Debtors disclosed total assets of $20.7 billion and total debt
of $16.1 billion as of Sept. 30, 2015.

The Debtors have hired Skadden, Arps, Slate, Meagher & Flom LLP as
counsel, Togut, Segal & Segal LLP as conflicts counsel, Rothschild
Inc. as investment banker and financial advisor, McKinsey Recovery
& Transformation Services U.S., LLC, as restructuring advisors and
Prime Clerk LLC as claims and noticing agent. The Debtors employed
PricewaterhouseCoopers LLP as financial advisors; and KPMG LLP as
their auditor and tax consultant.

An official committee of unsecured creditors has been appointed in
the case. The committee tapped Weil, Gotshal & Manges LLP as its
general bankruptcy counsel and Morrison & Foerster LLP as special
counsel.


SUNEDISON INC: D.E. Shaw Looking Into Deal for TerraForm Stake
--------------------------------------------------------------
The American Bankruptcy Institute, citing Reuters, reported that
hedge fund manager D.E. Shaw and Co said it may make a non-binding
proposal for SunEdison Inc's stake in Terraform Power Inc.,
according to a regulatory filing on Oct. 14.

According to the report, D.E. Shaw and Co was evaluating various
deals with the two companies which could result in a controlling
stake in Terraform Power.

In August, Reuters reported that the hedge fund manager was
weighing a bid for SunEdison's controlling stake in TerraForm
Power, the bankrupt company's most valuable asset, according to
sources.

TerraForm Global Inc. and TerraForm Power Inc., the "yieldcos" of
bankrupt solar company SunEdison Inc, said in September that they
were exploring strategic alternatives, including a sale of their
entire business, the report related.

                      About SunEdison, Inc.

SunEdison, Inc. (OTC PINK: SUNEQ), is a developer and seller of
photovoltaic energy solutions, an owner and operator of clean power
generation assets, and a global leader in the development,
manufacture and sale of silicon wafers to the semiconductor
industry.

On April 21, 2016, SunEdison, Inc., and 25 of its affiliates each
filed a Chapter 11 bankruptcy petition (Bankr. S.D.N.Y. Case Nos.
16-10991 to 16-11017).  Martin H. Truong, the senior vice
president, general counsel and secretary, signed the petitions.

The Debtors disclosed total assets of $20.7 billion and total debt
of $16.1 billion as of Sept. 30, 2015.

The Debtors have hired Skadden, Arps, Slate, Meagher & Flom LLP as
counsel, Togut, Segal & Segal LLP as conflicts counsel, Rothschild
Inc. as investment banker and financial advisor, McKinsey Recovery
& Transformation Services U.S., LLC, as restructuring advisors and
Prime Clerk LLC as claims and noticing agent.  The Debtors
employed
PricewaterhouseCoopers LLP as financial advisors; and KPMG LLP as
their auditor and tax consultant.

An official committee of unsecured creditors has been appointed in
the case.  The Committee tapped Weil, Gotshal & Manges LLP as its
general bankruptcy counsel and Morrison & Foerster LLP as special
counsel.


SUNRISE COOPERATIVE: Taps DLA Piper as Bankruptcy Counsel
---------------------------------------------------------
Sunrise Cooperative Inc. seeks authorization from the U.S.
Bankruptcy Court for the Southern District of New York to employ
DLA Piper LLP (US) as bankruptcy counsel, effective as of the
September 23, 2016 petition date.

The Debtor requires DLA Piper to:

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

    (b) attend meetings and negotiating with the representatives of
creditors and other parties in interest and advise and consult on
the conduct of the case, including all of the legal and
administrative requirements of operating in Chapter 11;

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

    (d) prepare on the Debtor's behalf motions, applications,
answers, orders, reports, and papers necessary to the
administration of the estate;

    (e) prepare and negotiate on the Debtor's behalf a Chapter 11
plan, disclosure statement, and all related agreements and/or
documents, and take any necessary action on behalf of the Debtor to
obtain confirmation of such plan;

    (f) advise the Debtor in connection with any sale of assets or
other transactions;

    (g) perform other necessary legal services and provide other
necessary legal advice to the Debtor in connection with the Chapter
11 Case; and

    (h) appear before the Court, any appellate court, and the
United States Trustee and protect the interests of the Debtor's
estates before such courts and the United States Trustee.

DLA Piper agreed to act as counsel to the Debtor on a pro bono
basis, and as such, no arrangement is proposed between the Debtor
and DLA Piper for compensation to be paid in the Chapter 11 Case.


Thomas R. Califano, Esq., member of DLA Piper, 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.

DLA Piper can be reached at:

         Thomas R. Califano, Esq.
         Adam C. Lanza, Esq.
         DLA PIPER LLP (US)
         1251 Avenue of the Americas
         New York, NY 10020-1104
         Tel: (212) 335-4500
         Fax: (212) 335-4501
         Email: thomas.califano@dlapiper.com
                adam.lanza@dlapiper.com

             About Sunrise Cooperative

Sunrise Cooperative, Inc. filed a Chapter 11 petition (Bankr. S.D.
N.Y. Case No.: 16-12692) on September 23, 2016, and is represented
by Thomas R. Califano, Esq. in New York, New York.

At the time of filing, the Debtor had $100,000 to $500,000 in
estimated assets and $1 million to $10 million in estimated
liabilities:

The petition was signed by Tirso Mier, vice president.

A copy of the Debtor's list of seven unsecured creditors is
available for free at http://bankrupt.com/misc/nysb16-12692.pdf


SUPERVALU INC: Save-A-Lot Sale Neutral to Fitch's 'B' IDR
---------------------------------------------------------
SUPERVALU Inc.'s (SVU) definitive agreement to sell Save-A-Lot for
$1.365 billion is neutral to the company's Issuer Default Rating
(IDR), according to Fitch Ratings.

Fitch's affirmation of SVU's 'B' IDR on Sept. 7, 2016 contemplated
the possible divestiture of Save-A-Lot, potential proceeds, and any
corresponding debt paydown. Upon transaction closing and
corresponding debt reduction, Fitch will evaluate SVU's post
separation capital structure and adjust issue-level ratings for the
various tranches of remaining debt based on the amount of term loan
debt paydown and updated recovery model excluding Save-A-Lot.

The transaction price values Save-A-Lot at about 6.7x the segment's
$203 million of latest-12-month (LTM) June 18, 2016 EBITDA and was
in line with Fitch's expectations of 6x - 8x. SVU intends to use
net proceeds to prepay at least $750 million of its $1.4 billion
term loan due 2019, to further reduce debt, and to fund corporate
and growth initiatives for its remaining business. The sale is
expected to be completed by Jan. 31, 2017, subject to regulatory
approvals and other customary closing conditions.

At June 18, 2016, SVU had $2.5 billion of total debt. SVU's credit
agreements require the first $750 million of proceeds and up to 50%
of proceeds above $750 million for net secured leverage to be 1.5x
to be used to repay its term loan. The term loan is backed by
certain real estate (mainly retail stores and distribution centers)
with a book value of $793 million (as of June 18, 2016) and an
estimated market value of $1 billion, and a pledge of the shares of
Moran Foods, LLC (Save-A-Lot).

Fitch projects $750 million of debt reduction will be required to
bring the net secured leverage ratio down to 1.5x and therefore
does not contemplate significant additional debt paydown. Pro forma
total adjusted debt/EBITDAR, based on LTM EBITDA of $569 million
excluding Save-A-Lot, $1.8 billion of debt and $98 million of rent
expense, is 3.8x. However, Fitch anticipates that leverage will
increase to the low 4x range as sales and operating earnings in its
remaining wholesale and retail businesses remain under pressure.

Key Rating Drivers

Weak Revenue, Earnings Trends:

SVU's revenue fell 3.9% to $5.2 billion in the first quarter ended
June 18, 2016, after declining 1.6% to $17.5 billion in fiscal 2016
(February). Excluding the impact of the 53rd week in fiscal 2015,
sales were essentially flat. Low- to mid-single-digit identical
store (ID) sales declines at Save-A-Lot and retail, along with
business losses and reduced revenue from existing clients in the
wholesale segment, are having a negative impact on revenue.

For SVU's retail segment, Fitch expects mid-single-digit ID sales
declines for fiscal 2017. Gradual improvement should occur in
fiscal 2018 due to price investments and improved store-level
execution but Fitch expects SVU's retail banners will continue to
be share donors over the long term. Gross margin contraction and
operating earnings declines could continue absent significant cost
reductions. Fitch projects segment EBITDA of about $200 million in
fiscal 2017 from $248 million in fiscal 2016 and below $200 million
in fiscal 2018.

Although SVU expects to consummate the divestiture of Save-A-Lot
before the end of fiscal 2017, Fitch expects low-single-digit ID
sales declines for fiscal 2017 for this segment. Segment EBITDA is
projected to be approximately $200 million in fiscal 2017.

Fitch expects segment sales in wholesale to decline at a
low-single-digit rate in fiscal 2017 even as revenue from new
business, particularly from Marsh Supermarkets and The Fresh
Market, starts to materialize. Absent additional customer losses,
mid-single-digit sales growth is anticipated for fiscal 2018 as the
full benefit of this new business is realized.

Wholesale segment EBITDA is projected to be approximately $270
million in fiscal 2017 and $300 million in fiscal 2018 but modest
margin contraction is expected given the likelihood that
larger-sized contracts come at a lower margin. SVU will have to
offset what Fitch expects will be a 2%-3% attrition rate in its
existing business with new business wins in order to maintain the
revenue and EBITDA base in this segment.

Long-term Challenges for Wholesale and Retail Business

Based on Fitch's fiscal 2017 forecast, SVU's wholesale and retail
segments will represent 63% and 37%, respectively, of the company's
revenue and EBITDA post the separation of Save-A-Lot. Fitch
recognizes SVU's focus on its wholesale operations and recent new
business wins but expects the wholesale and retail operating
environment to remain challenged longer term due to competitive
pricing and consolidation and restructuring in the grocery
industry. Excluding Save-A-Lot, Fitch projects EBITDA of about $530
million in fiscal 2017, down from $584 million in fiscal 2016.
Fitch anticipates that EBITDA could decline to below $500 million,
absent continued cost reductions, due to on-going revenue and
margin pressure.

RATING SENSITIVITIES

Future developments that may, individually or collectively, lead to
an upgrade include stable market share trends; total adjusted
debt/EBITDA sustained below 4.0x; relatively stable margins; and
positive FCF.

Future developments that may, individually or collectively, lead to
a downgrade include consistently weak top line performance across
each of the company's businesses and margin contraction that lead
to negligible or negative FCF.

Fitch currently rates SVU as the follows:

   SUPERVALU INC.

   -- Long-Term Issuer Default Rating 'B';

   -- $1 billion secured revolving credit facility 'BB/RR1';

   -- $1.4 billion secured term loan 'BB/RR1';

   -- $750 million senior unsecured notes 'B/RR4'.

The Rating Outlook is Stable.


SYMPHONIC HOLDINGS: Sale of Smithtown Property for $630K Okayed
---------------------------------------------------------------
Judge Alan S. Trust of the U.S. Bankruptcy Court for the Eastern
District of New York authorized Symphonic Holdings, LLC and T.C.
Music Co., Inc., to sell the real property known as and located at
29 East Main Street, Smithtown, New York, to En Biao Lin for
$630,000.

A hearing on the Motion was held on Oct. 5, 2016.

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

The Debtors determined the Buyer to be the highest and best bidder
at the public auction sale conducted by Maltz Auctions, Inc.

The payment of the commission to Auctioneer remains subject to
further application and award by the Court.

                      About Symphonic Holdings

Symphonic Holdings LLC and T.C. Music Co., Inc. sought Chapter 11
protection (Bankr. E.D.N.Y. Case No. 16-72228 and 16-72231) on May
18, 2016.  The cases are jointly administered under Case No.
16-72228.  The Debtors tapped Gerard R Luckman, Esq., at
SilvermanAcampora LLP, as counsel.

TCM's primary business is renting, selling and repairing musical
instruments to numerous school districts in Suffolk County, New
York.  In addition, TCM provides music lessons for many children on
a weekly basis.  Symphonic is a single asset real estate entity,
which owns the Suffolk County property, and TCM operates its
business out of the property.

Symphonic Holdings estimated $500,000 to $1 million in assets and
debt.


TECHNOLOGY SPECIALISTS: Unsecureds To Recoup 10% Under Plan
-----------------------------------------------------------
Technology Specialists, Inc., filed with the U.S. Bankruptcy Court
for the District of Maryland an amended disclosure statement dated
October 14, 2016, a full-text copy of which is available at
http://bankrupt.com/misc/mdb15-17311-160.pdf

Class 2: (General Unsecured Claims) ($6,001,500.00).  In full and
final satisfaction and discharge of each Allowed Class 2 Claim,
each Holder of an Allowed Class 2 Claim will receive a pro rata
distributions of net proceeds of the Class 2 Assets, consisting of
the following: (i) Class 2 Effective Date Funds; (ii) the Class 2
Post-Effective Date Payments; and (iii) net recoveries from
Avoidance Actions and Causes of Action.  The sum of (i) and (ii)
will equal 10% of the Allowed Class 2 Claims.  As such, Allowed
Class 2 Claims will receive a pro rata distributions of 10% of
their Allowed Class 2 Claims, plus any payments received from the
net recoveries from Avoidance Actions and Causes of Action.

Class 1: (Secured Tax Claims) ($1,545.11).  The Class 1 Secured Tax
Claim consists of the Claim of Prince George's County, Maryland, in
the amount of $1,545.11, as a result of unpaid personal property
taxes for fiscal year 2016, plus accrued interest at the rate of
seven percent.  Absent agreement by the holder of the Class 1
Secured Tax Claim, the Class 1 Secured Tax Claim will be paid in
full on the Effective Date.

Class 3: Class 3 consists of Equity Interests in the Debtor.  Lee
White and Thalia White are the owners of 100% of the stock and
Equity Interests in the Debtor.  Class 3 Equity Interests will be
extinguished on the effective date, and new interests will be
issued in the Reorganized Debtor consisting of 1,000 shares in a
single class of common stock.  Absent higher or better bids being
accepted, Lee White will purchase 100% of the equity interests in
the Reorganized Debtor by making a new value contribution to the
Plan in the amount of $10,000 to be used to fund Allowed Class 2
Claims.

                About Technology Specialist

Technology Specialists, Inc., a small business information
technology integrator and value-added reseller, filed a Chapter 11
petition (Bankr. D. Md. Case No. 15-17311) on May 21, 2015, and is
represented by Steven L. Goldberg, Esq., and James Greenan, Esq.,
at McNamee, Hosea, Jernigan, Kim, in Greenbelt, Maryland.  At the
time of filing, the Debtor listed total assets of $935,669 and
total liabilities of $6.57 million.

On June 3, 2015, the United States Trustee formed a three-member
Committee, consisting of the following members: (a) Levin
Professional Services, Inc. t/a Washington Professional Systems;
(b) Motorola Solutions, Inc.; and (c) Kinloch & Associates. The
Committee selected Cole Schotz, P.C. as its counsel.


TERVITA CORPORATION: Chapter 15 Case Summary
--------------------------------------------
Chapter 15 Debtors:

      Name                                         Case No.
      ----                                         --------
      Tervita Corporation                          16-12920
      3400, 350 7th Avenue SW
      Calgary, Alberta T2P 3N9
      Canada

      ARKLA Disposal Services, Inc.                16-12921
      CCS Canada (Canadian Holdings) Inc.          16-12922
      CCS International Holdings Inc.              16-12923
      Hazco Industrial Services Ltd.               16-12924
      Red Sky Holdings 1 Inc.                      16-12926
      Red Sky Holdings 2 Inc.                      16-12927
      Red Sky Holdings 3 Inc.                      16-12928
      Tervita Environmental Services Ltd.          16-12929
      Tervita Equipment Rentals Ltd.               16-12930
      Tervita Metal Services Ltd.                  16-12931
      Tervita Production Services Ltd.             16-12932
      Tervita Waste Processing Ltd.                16-12933

Type of Business: Midstream services

Chapter 15 Petition Date: October 18, 2016

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

Authorized Representative: Rob Van Walleghem

Chapter 15 Petitioner's Counsel: Mark A. Broude, Esq.
                                 Annemarie V. Reilly, Esq.
                                 LATHAM & WATKINS LLP
                                 885 Third Avenue
                                 New York, NY 10022-4802
                                 Tel: (212) 906-1200
                                 Fax: (212) 751-4864
                                 E-mail: mark.broude@lw.com
                                         annemarie.reilly@lw.com

Total Consolidated Assets: C$1.7 billion as of Aug. 31, 2016

Total Consolidated Debt: $2.6 billion as of June 30, 2016


TERVITA CORPORATION: Seeks U.S. Recognition of Canadian Proceeding
------------------------------------------------------------------
Tervita Corporation and 12 of its subsidiaries, providers of waste
processing and management solutions to more than 1,500 clients in
the oil and gas industry and natural resource sectors in Western
Canada, have filed voluntary petitions under Chapter 15 of the
Bankruptcy Code in the U.S. Bankruptcy Court for the Southern
District of New York.

The Chapter 15 cases were initiated "in order to prevent certain of
the Debtors' stakeholders, many of whom have contacts with the
United States and are subject to personal jurisdiction of this
Court, from commencing actions in the United States that are more
properly the subject of the Canadian Proceedings," according to
Court filings.

Concurrently with the Chapter 15 petitions, the Debtors are seeking
recognition and enforcement of the jointly-administered proceedings
under the Canada Business Corporations Acts, R.S.C. 1985, c. C-44
in the Alberta Court of Queen's Bench, in Alberta, Canada.

The Tervita Group commenced Canadian Proceedings on Sept. 14, 2016,
with the goal of effecting a recapitalization transaction pursuant
to a plan of arrangement while continuing normal operations under
the protections offered by the CBCA.  

Rob Van Walleghem, executive vice president, health, safety and
environment, and general counsel and corporate secretary of
Tervita, said that the sustained uncertainty and volatility in the
E&P sector caused by falling oil prices has translated into lower
investment, drilling and completions activity by E&P companies,
which, consequently, adversely impacted the Tervita Group's
revenues and profits.

"The industry in which the Debtors operate, providing integrated
oil and gas environmental services to companies involved in the
exploration and production of oil and natural gas, is dependent
upon sustained success and growth in the E&P sector.  In recent
years, the oil and gas industry has faced a dramatic drop in
commodity prices," Mr. Walleghem maintained.

In response to declining oil prices, the Tervita Group began
implementing a reduction in force initiative in 2014 aimed at
cutting costs by centralizing internal services and minimizing
redundancies in its operations, as well as a "fit-for-purpose"
organizational effectiveness review aimed at implementing effective
ways to share support services between different service divisions.
Further, in February 2015, Tervita disposed of its interests in
Tervita, LLC, resulting in the sale of substantially all of its
U.S. based corporations for approximately US$469 million, and on
Aug. 31, 2016, Tervita sold its "Production Services" assets for
net cash proceeds of approximately C$42.8 million.

In the fall of 2015, the Debtors (with the assistance of their
financial advisor Barclays Capital Inc.) considered the potential
sale of a portion of Tervita.  One of the 16 interested parties
signed a confidentiality agreement and made an indicative proposal
which, according to the Debtors, was not commercially attractive.

On CBCA Commecement Date, the Canadian Court entered a preliminary
interim CBCA order evidencing the commencement of the Canadian
Proceedings and granting further related relief.  The Preliminary
Interim CBCA Order provides for a limited stay.  On Oct. 17, 2016,
the Canadian Court entered an interim CBCA Order which further
provides for a limited stay.

As disclosed in Court documents, the Tervita Group had total
consolidated assets with a net book value of approximately C$1.7
billion as of Aug. 31, 2016 (approximately C$26.7 million of that
amount is attributable to the book value of Tervita's wholly-owned
non-Debtor U.S. subsidiaries).

As of Aug. 31, 2016, the Tervita Group owed approximately:

    -- US$247.7 million under a term loan facility with Cortland
       Capital Market Services LLC, as successor administrative
       agent;

    -- US$669 million under those 8.00% senior secured notes due
       2018 in an aggregate principal amount of US$650 million and

       and C$205.3 million under those 9.00% senior secured notes
       due 2018 in an aggregate principal amount of C$200 million,
       each issued by Tervita pursuant to a Secured Notes
       Indenture, dated as of Feb. 14, 2013, among Tervita, the
       guarantors from time to time party thereto, Wells Fargo
       Bank, National Association, as the U.S. Trustee, and TSX
       Trust Company, as the Canadian Trustee;

    -- US$354.8 million under the 10.875% senior unsecured notes
       due 2018;

    -- US$336.6 million under the 11.875% senior unsecured
       subordinated notes due 2018; and

    -- C$1.1 billion under an intercompany loan.

In order to finance the Tervita Group's working capital
requirements and other general corporate purposes and capital
expenditures throughout the Canadian Proceedings, Tervita and the
Toronto-Dominion Bank executed an accommodation agreement which
provides the Tervita Group with continued availability to letters
of credit under a revolving credit facility dated as of Sept. 14,
2016, in the principal amount of C$325 million (plus a swingline
facility in the maximum principal amount of C$25 million).

                     Plan Support Agreements

In December 2015, Barclays began to assist the Tervita Group in
considering the possibility of a consensual restructuring.  From
January 2016 onwards, the Tervita Group and its advisors were in
contact with various debtholders to discuss possible covenant
relief and other potential solutions.  During March and April of
2016, the Tervita Group and Barclays engaged with the Secured
Noteholders, the Unsecured Noteholders, the Subordinated
Noteholders, and their respective advisors with the goal of
entering into a consensual restructuring transaction.

During this period, Tervita was also exploring options to address
its liquidity issues and ways to mitigate the risk of a breach of
the Term Loan Facility debt ratio covenants.  With the assistance
of Barclays, Tervita unwound certain "in the money" currency hedges
and was able to monetize its secured and unsecured swaps, which
resulted in gross proceeds of approximately US$174 million and
US$52 million, respectively.

On May 15, 2016, after extensive consultation with its board and
advisors, Tervita elected not to make the US$18.3 million interest
payment due on the Subordinated Notes, resulting in a default under
the Subordinated Notes Indenture, which had a 30-day grace period.
On June 15, 2016, the 30-day grace period expired.  However,
Tervita was able to obtain a waiver from the lenders under the
Revolving Credit Facility and the Term Loan Facility, as well as an
agreement whereby Subordinated Noteholders agreed to forbear until
Sept. 15, 2016, from enforcement of the interest payment default
under the Subordinated Notes Indenture.

On Aug. 15, 2016, Tervita elected not to make the US$18.2 million
interest payment on its 10.875% Unsecured Notes.  Under the 10.875%
Unsecured Notes Indenture, Tervita had a 30-day grace period.

Starting in March and April 2016, Tervita and its advisors engaged
in negotiations with various ad hoc committees and their respective
legal counsel and advisors in an effort to negotiate a
recapitalization transaction that would recapitalize Tervita's
capital structure and allow the business to continue as a going
concern.  The Ad Hoc Committees include the following: (i) a group
of holders that are primarily holding a material portion of the
debt under the Term Loan Facility and a material portion of the
Secured Notes; (ii) a group of holders that are primarily holding a
material portion of the Unsecured Notes, as well as a material
portion of the debt under the Term Loan Facility and a material
portion of the Secured Notes; and (iii) a group of holders that are
primarily holding a material portion of the Subordinated Notes.

The negotiations with the Ad Hoc Committees ultimately culminated
in the formulation of a term sheet forming the basis of the Plan.
On Sept. 14, 2016, Tervita entered into separate Plan support
agreements with (i) a material portion of the unsecured
noteholders, (ii) a material portion of the subordinated
noteholders, and (iii) the RSAC Shareholders.  Additionally,
Tervita and certain members of the Unsecured Noteholders Ad Hoc
Committee also reached an agreement in principal on the terms of a
backstop commitment in an amount of up to C$372 million (which
amount may be reduced, such that Tervita's cash balance at closing
is C$75 million).

                     The Plan of Arrangement

The Plan is a traditional debt for equity conversion.  The Plan
provides for, among other things:

   a. the payment of the principal outstanding on all of the
      Secured Debt and accrued and unpaid interest thereon through
      the effective date of the Plan, other than the Secured Debt
      held by the Plan Sponsors as of Sept. 14, 2016, and the
      accrued and unpaid interest thereon;

   b. the creation of a new class of common shares of Tervita and
      the creation of a new class of preferred shares of Tervita,  

      which shares will have substantially similar rights;

   c. the exchange of all of the existing equity of Tervita in
      consideration for 20% of the net proceeds actually received
      by Tervita from the determination or settlement of certain
      litigation by Tervita against a third party in the Canadian
      Court;

   d. the issuance of new preferred shares by Tervita to eligible
      Unsecured Noteholders that have elected to participate in
      the New Investment on a pro rata basis in accordance with
      the terms thereof;

   e. the issuance of new preferred shares by Tervita in
      consideration for the irrevocable exchange and transfer of
      all of the Secured Debt held by the Plan Sponsors as of
      Sept. 14, 2016, and the accrued and unpaid interest thereon;

   f. the issuance of new common shares by Tervita that in the
      aggregate will represent 2.0% of pro forma equity, in
      consideration for the irrevocable exchange and transfer of
      all the Unsecured Notes;

   g. the issuance of new common shares by Tervita that in the
      aggregate will represent 0.5% of pro forma equity to those
      Unsecured Noteholders that execute the Unsecured Noteholder
      Support Agreement on or before Oct. 21, 2016;

   h. the irrevocable exchange of all of the Subordinated Notes in
      consideration for the payment of C$20.0 million by Tervita;

   i. the further payment of C$5.0 million by Tervita to those
      Subordinated Noteholders that execute the Subordinated
      Noteholder Support Agreement on or before Oct. 14, 2016;

   j. the transfer of the Intercompany Loan debt to a subsidiary  

      of Tervita; and

   k. the funding of a new debt in an amount of C$475 million
      and the reinstatement or replacement of the Revolving Credit
      Facility, each on terms and conditions acceptable to Tervita
      and the Plan Sponsors.

The Term Loan Facility and the Secured Notes will be unimpaired by
the Plan because the principal and interest on the Term Loan
Facility and the Secured Notes will be repaid in full (other than
the holdings of such Term Loan Facility and Secured Notes as of the
Canadian Commencement Date held by the Plan Sponsors).  The
Revolving Credit Facility will also be unaffected by the Plan.  In
addition, Tervita's trade debt, other non-financial claims and
obligations to its employees will generally continue to be paid or
otherwise satisfied in the ordinary course of business.

Pursuant to the Interim CBCA Order, the Unsecured Noteholders, the
Subordinated Noteholders and the Red Sky Acquisition Corp.
Shareholders will hold separate meetings to consider authorizing
and approving the Plan of Arrangement, among other things, on Nov.
30, 2016.  Upon approval by the requisite stakeholders, the
Canadian Court will hold a hearing to consider entry of a final
order approving the Plan on Dec. 6, 2016, at 10:00 a.m. (Calgary
time) or soon thereafter.

A full-text copy of the declaration of Rob Van Walleghem in support
of the verified petition is available for free at:

      http://bankrupt.com/misc/4_TERVITA_Declaration.pdf

                         About Tervita

Headquartered in Calgary, Alberta, the Tervita Group's largest line
of business is "midstream services."  The Tervita Group delivers
waste processing and management solutions for fluids and solid
waste used in and generated by oil and gas drilling and production.
This includes, among many other services: (i) processing and
disposing of waste by-products created by resource extraction and
(ii) managing the sale of oil and condensate processed and
recovered through the Tervita Group's waste processing facilities.
The Tervita Group also has other lines of business, including
environmental services.


TRANSDIGM INC: Fitch Assigns 'BB' Sr Secured Term Loan Rating
-------------------------------------------------------------
Fitch Ratings has assigned a 'BB/RR1' rating to TransDigm Inc.'s
(TDI) recently funded $650 million senior secured term loan and to
the $500 million delayed-draw term loan, the proceeds of which will
be used to repurchase the already-tendered $500 million senior
subordinated notes due 2021. In addition, Fitch has affirmed the
Long-Term Issuer Default Ratings (IDR) of TransDigm Group, Inc.
(NYSE:TDG) and its indirect subsidiary TDI at 'B'. The Rating
Outlook is Stable. Fitch's ratings cover approximately $10.9
billion of outstanding debt after giving effect to the incremental
$650 million of borrowings.

The Recovery Ratings (RRs) and notching in the debt structure
reflect Fitch's recovery expectations under a scenario in which
distressed enterprise value is allocated to the various debt
classes. TDI's capital structure includes senior secured credit
facilities and senior subordinated notes. The expected RR for the
senior secured credit facilities is 'RR1', indicating recovery
prospects in the range of 91% to 100%. The senior subordinated
notes are at the 'RR5' level, which reflects an expected recovery
in the 11%-30% range.

KEY RATING DRIVERS

On Oct. 14, 2016, TDG announced it received funding for the new
$650 senior secured term loan, the proceeds of which will be used
to partially fund a special $24 per share cash dividend. The new
loan is incremental to the F term loan due June 2023. The amended
term loan F also includes a new $500 million delayed-draw term
loan, the proceeds of which will be used to repurchase the
already-tendered $500 million senior subordinated notes due 2021.
Fitch estimates the issuance will increase the company's current
leverage (debt/EBITDA) level to 7.7x, up from the previously
expected leverage of 7.3x.

Fitch expects leverage to decline to approximately 7.2x by the end
of fiscal 2017 as a result of the company's recent
acquisition-driven growth. Even though TDG's leverage metrics have
stabilized, the company's coverage ratios have steadily
deteriorated, as FFO interest coverage declined to 2.5x at the end
of 2015 from 3.2x at the end of 2012. TDG's ratio of operating
EBITDA-to-gross interest expense declined to 3x, down from 4x
during the same period. Fitch anticipates a continued deterioration
of coverage ratios due to the expected increase in indebtedness and
corresponding rise of cash interest expenses.

The ratings are supported by the company's strong free cash flow
(FCF), good liquidity, strong margins, healthy commercial aerospace
markets, higher U.S. defense spending, and a favorable debt
maturity schedule. TDG has good diversification in its portfolio of
products that supports a variety of commercial and military
platforms/programs, and it is a sole source provider for the
majority of its sales.

Fitch's concerns include the company's high leverage, declining
interest coverage, the long-term cash deployment strategy which
focuses on acquisitions and occasional debt-funded special
dividends, and weak collateral support for the secured bank
facility in terms of asset coverage. Additionally, Fitch notes that
TDG is exposed to the cyclicality of the aerospace industry,
reporting several quarters of organic sales declines during fiscal
2009 and 2010 driven by lower demand for aftermarket parts and
production cuts by commercial original equipment manufacturers
(OEMs). The market cyclicality is somewhat mitigated by growth from
acquisitions, high margins, and sales diversification.

TDG generates significant cash flows due to its ability to demand a
premium for its products, partially driven by a large percentage of
sales from a relatively stable and highly profitable aftermarket
business; low research and development costs; and low capital
expenditures. Additionally, TDG's cash flows benefit from the lack
of material pension liabilities and no other post-employment
benefit (OPEB) obligations.

KEY ASSUMPTIONS

Fitch's key assumptions within the rating case for TDG include:

   -- Leverage will remain in the range of 7x to 7.7x over the
      rating horizon;

   -- The company will issue additional debt over the next three
      years, offsetting expected growth in EBITDA;

   -- Excess cash will be paid to shareholders in the form of
      special dividends if the company does not make acquisitions;

   -- Revenues will grow by approximately 17% in both fiscal 2016
      and 2017. The growth will slow to low double-digits
      thereafter driven by acquisitions and anticipated growth of
      the aerospace and defense sector;

   -- Margins will remain in the range of 44% to 46% over the
      rating horizon;

   -- The company will maintain long-term cash balances in the
      range of $500 million to $700 million.

RATING SENSITIVITIES

Fitch does not anticipate positive rating actions in the near term
given current credit metrics and the company's cash deployment
strategies. Positive rating actions could be considered if the
company modifies its cash deployment strategy and focuses on debt
reduction.

A negative rating action may be considered if there is significant
cash flow margin erosion without commensurate de-leveraging.
Additionally, Fitch may consider a negative rating action should
TDG's leverage (debt-to-EBITDA) and FFO adjusted leverage increase
and remain between 8x to 8.25x and above 9.5x, respectively, driven
by weakening of the global economy, a downturn in the aerospace
sector, or by issuance of additional debt to fund special dividends
or acquisitions.

LIQUIDITY

TDG has adequate financial flexibility and good liquidity supported
by a $600 million revolving credit facility and a sizable cash
balance, as the company typically holds above $500 million in cash.
As of July 2, 2016, TDG held $1.66 billion in cash and equivalents.
Fitch anticipates the company's liquidity will remain in the
historical range of $1 billion to $1.5 billion following the
payment of the $24 per share dividend and redemption of $500
million senior unsecured subordinated notes due in 2021.

The company has no significant debt maturities until 2020 when $500
million of senior subordinated notes become due and the $1.2
billion tranche C of its credit facility matures. Fitch anticipates
the company will refinance the maturing debt and estimates TDG's
liquidity will fluctuate between $1 billion to $1.5 billion over
the next several years.

FULL LIST OF RATING ACTIONS

Fitch has assigned the following ratings:

   -- $650 million senior secured term loan at 'BB/RR1';

   -- Delayed draw $500 million senior secured term loan at
      'BB/RR1'.

In addition, Fitch has affirmed the following ratings:

   TransDigm Group, Inc.

   -- Long-Term IDR at 'B'.

   TransDigm Inc.

   -- IDR at 'B';

   -- Senior secured revolving credit facility at 'BB/RR1';

   -- Existing senior secured term loans at 'BB/RR1';

   -- Senior subordinated notes at 'B-/RR5'.

The Rating Outlook is Stable.


TREND COMPANIES: Court Allows Cash Collateral Use on Interim Basis
------------------------------------------------------------------
The U.S. Bankruptcy Court for the Western District of Kentucky
authorized The Trend Companies of Kentucky, Inc., d/b/a The Trend
Appliance Company, to use First Financial Bank, N.A.'s cash
collateral on an interim basis.

The Debtor is indebted to First Financial Bank pursuant to two
Promissory Notes.  The Debtor owes First Financial Bank $63,098 on
the first Note and $116,886 on the second Note.  First Financial
Bank has security interests in essentially all assets of the
Debtor.

Pursuant to the Interim Order, First Financial Bank is granted
valid, binding, enforceable and perfected first priority liens,
mortgages and security interests, superior to the liens, mortgages,
security interests or other interests or rights of all other
creditors of the Debtor’s estate on property owned or leased by
the Debtor, in and upon:

     (i) all of the Prepetition Collateral and all proceeds
thereof; and

    (ii) all of the Debtor's property and assets acquired by the
Debtor on or after the Petition Date and all their proceeds.

First Financial Bank is granted an adequate protection claim
against the Debtor's estate.  It is also granted a lien, mortgage
and security interest in and upon the Prepetition Collateral and
all post-petition proceeds of the Prepetition Collateral, and the
Postpetition Collateral and all its proceeds, to the same extent,
validity and priority as its prepetition security interest.

The Debtor is directed to make monthly adequate protection payments
to First Financial Bank in the amount of $200 for Note 1 and $600
for Note 2.  The Debtor is further directed to make monthly
adequate protection payments to GE Appliances in the amount
$2,000.

The Debtor is authorized to pay its counsel and accountant for any
Court approved fees and expenses, not to exceed $35,000, exclusive
of amounts presently held in escrow by the Debtor's counsel.

A full-text copy of the Order, dated Oct. 17, 2016, is available at

http://bankrupt.com/misc/TrendCompanies2016_1630258acs_97.pdf

First Financial Bank, N.A., is represented by:

          Jeffrey M. Hendricks, Esq.
          GRAYDON HEAD
          1900 Fifth Third Center
          511 Walnut Street
          Cincinnati, OH 45202
          Telephone: (513) 629-2786

GE Appliances is represented by:

          Phillip A. Martin, Esq.
          Elizabeth B. Alphin, Esq.
          FULTZ MADDOX DICKENS, PLC
          2700 National City Tower
          Louisville, KY 40202
          Telephone: (502) 992-5038

           About The Trend Companies of Kentucky

The Trend Companies of Kentucky, Inc., filed a Chapter 11 petition
(Bankr. W.D. Ky. Case No.16-30258), on Feb. 3, 2016.  The petition
was signed by Joseph Dumstorf, president.  The case is assigned to
Judge Alan C. Stout.  The Debtor is represented by Neil Charles
Bordy, Esq., at Seiller Waterman LLC.  At the time of filing, the
Debtor estimated assets at $500,000 to $1 million and liabilities
at $1 million to $10 million.


TUSK ENERGY: Nov. 1 Disclosure Statement Hearing Set
----------------------------------------------------
Judge Robert Summerhays of the U.S. Bankruptcy Court for the
Western District of Louisiana will convene a hearing on November 1,
2016, at 10:00 a.m., to consider the adequacy of the disclosure
statement explaining Tusk Energy Services, LLC, et al.'s plan.

Objections to the Disclosure Statement must be filed at least seven
days before the hearing.

                     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.

Henry Hobbs, Jr., acting U.S. trustee for Region 5,on Sept. 19
appointed three creditors of Tusk Energy Services, LLC, to serve on
the official committee of unsecured creditors.

                        *     *     *

The Debtors have filed a motion asking permission from the
Bankruptcy Court to sell substantially all assets to Dale Martin
Offshore, LLC, for $3,300,000, subject to overbid.  DMO is
represented by Douglas S. Draper, Esq., at Heller, Draper, Patrick,
Horn & Dabney, LLC, in New Orleans, Louisiana.


VARSITY BRANDS: Moody's Affirms B2 CFR, Outlook Stable
------------------------------------------------------
Moody's Investors Service affirmed Varsity Brands Holding Co.,
Inc.'s B2 Corporate Family Rating, B2-PD Probability of Default
Rating, and B1 rating on the company's proposed upsized
$985 million (originally $1 billion) first lien term loan due 2021,
including $890 million outstanding and $95 million add-on. The
rating outlook is stable.

In a proposed transaction, Varsity Brands expects to amend its
first lien and second lien credit agreements.  The amendments will
include a $95 million upsize of the company's first lien term loan
due 2021 to $985 million and a $95 million upsize of the second
lien term loan due 2022 to $390 million (not rated).  The proceeds
from the term loan add-ons, together with the balance sheet cash,
will be used to fund a $245 million distribution to the company's
existing shareholders.  As a part of this transaction, Varsity
Brands is also contemplating amending and upsizing its ABL
revolving credit facility expiring in 2019 to $150 million from
$120 million (not rated).  No changes in maturities or pricing of
the debt instruments are anticipated.

The transaction is credit negative as it reflects the company's
aggressive financial policies given its willingness to
significantly increase debt to fund a shareholder distribution. Pro
forma for the proposed transaction Moody's-adjusted debt to EBITDA
increases from 6.2x where it stood at June 25, 2016 to
approximately 7.0x, which is high for the rating category given the
company's operating profile.  The rating affirmation reflects
Varsity Brands' track record of de-leveraging through earnings
growth and solid free cash flow generation.  The rating is
predicated on Moody's expectation that organic growth in the
company's BSN and Varsity divisions and cost cutting initiatives
combined with synergy realization from acquisition integrations
will contribute to earnings growth, allowing Varsity Brands to
de-lever below 6.0x over the next 12 to 18 months.  A delay in
deleveraging or lower than expected organic revenue growth could
cause negative rating pressure.

These rating actions were taken:

Issuer: Varsity Brands Holding Co., Inc.:
  Corporate Family Rating, affirmed at B2;
  Probability of Default Rating, affirmed at B2-PD;

Issuers: Varsity Brands Holding Co., Inc. and Hercules Achievement,
Inc., as joint and several co-borrowers:
  Proposed upsized $985 million first lien senior secured term
   loan facility due 2021 (including $95 million add-on), affirmed

   at B1 (LGD3);
The rating outlook is stable.

                         RATINGS RATIONALE

Varsity Brands' B2 CFR reflects the company's high debt leverage,
aggressive financial policies, its acquisitive nature and the
associated integration risks, modest operating margins, as well as
weakness in Herff Jones' legacy yearbook and achievement segments,
which are vulnerable to economic cycles, slow erosion of demand for
consumer affinity products, and school budget constraints.  The
rating is supported by the company's solid free cash flow
generation and Moody's expectation that cost savings initiatives
will improve Varsity Brands' earnings.  The rating also positively
reflects Varsity Brands' solid position within its niche markets
and operational diversity provided by BSN (team sports apparel and
equipment) and Varsity (cheerleading dance uniform and camp
businesses) divisions to the company's yearbook and scholastic
businesses that operate in mature markets.  Moody's believes this
business profile supports relative stability of revenues and
provides a platform for continued organic growth supported by
increased participation in athletic and cheerleading activities.

Varsity Brands has good liquidity supported by the company's solid
free cash flow generation, the availability under its proposed
upsized $150 million ABL revolving credit facility expiring in
2019, flexibility under the springing fixed charge coverage
covenant, and an extended debt maturity profile.  The company's
liquidity is somewhat constrained by the seasonality of its cash
flows and working capital needs.

The stable rating outlook reflects Moody's expectations that the
company's organic growth and cost savings initiatives will result
in EBITDA growth and solid free cash flow generation, allowing debt
to EBITDA leverage to decline below 6.0x over the next 12 to 18
months.  The outlook also incorporates Moody's expectation that the
company will maintain good liquidity and a disciplined approach to
acquisitions.

The ratings could be downgraded if the company's adjusted debt to
EBITDA is sustained above 6.0x, if operating performance
deteriorates for any reason, or if free cash flow generation or
liquidity materially weakens.  An aggressive acquisition strategy
could also pressure the ratings.

The ratings could be considered for an upgrade if the company
reduces its adjusted debt to EBITDA sustainably below 4.0x through
earnings growth and debt reduction, while maintaining a
conservative approach to acquisitions and good liquidity.

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

Varsity Brands is a provider of sports, cheerleading and
achievement-related products to schools, colleges and youth
organizations in the U.S.  The company operates through its three
complementary businesses: BSN Sports, providing sports apparel and
equipment to schools and consumers; Herff Jones, supplying
graduation-related items and recognition rewards through its
Yearbook and Achievement divisions; and Varsity Spirit, offering
cheerleading uniforms and apparel and hosting cheerleading camps
and competitions.  In the LTM period ending June 30, 2016, the
company generated approximately $1.5 billion in revenues.



VARSITY BRANDS: S&P Affirms 'B' CCR, Outlook Stable
---------------------------------------------------
S&P Global Ratings affirmed its 'B' corporate credit rating on
Dallas-based Varsity Brands Holding Co. Inc.  The outlook is
stable.

S&P also affirmed its 'BB-' rating on the company's upsized
$150 million ABL revolver due 2019 with a recovery rating of '1',
reflecting S&P's expectation for very high (90%-100%) recovery in
the event of a payment default.  S&P also affirmed its 'CCC+'
rating on the upsized $390 million second-lien term loan with a
recovery rating of '6', reflecting S&P's expectation for negligible
(0%-10%) recovery in the event of a payment default.

At the same time, S&P lowered its rating on the company's upsized
$1 billion first-lien term loan ($985 million outstanding) to 'B'
from 'B+', and revised the recovery rating to '3', reflecting S&P's
expectation for meaningful (in the higher half of the 50%-70%
range) recovery in the event of a payment default, from '2'.

S&P estimates pro forma debt outstanding as of Sept. 30, 2016, is
about $1.4 billion.

Varsity Brands Holding Co. Inc. and Hercules Achievement Inc.
(collectively, Varsity Brands) are co-borrowers under the
asset-based and senior secured term loans.

"The corporate credit rating affirmation reflects our expectation
that notwithstanding the increased debt burden from the proposed
debt-financed distribution, Varsity Brands will continue to
generate satisfactory free cash flow and strengthen profitability
such that credit measures will strengthen over the next year," said
S&P Global Ratings credit analyst Katherine Heng.

The ratings on Varsity Brands reflect the company's private equity
ownership and high debt burden, including adjusted debt to EBITDA
in the mid-6x area and adjusted EBITDA to interest expense around
2.5x.  The ratings also incorporate the company's formidable
position in the historically stable school affinity market through
its three segments--graduation-related merchandise (Herff Jones),
cheerleading supplies and services (Varsity Spirit), and sports
apparel (BSN Support), its large sales force, and long customer
relationships.  BSN Sports is the largest marketer and distributor
in sports equipment in the category that it serves.  Varsity Spirit
is the number one provider of cheerleading and dance uniforms,
apparel, camps, and competitions. Herff Jones has a well-recognized
name and has a top three market position.  The company has
longstanding customer relationships with high customer retention
rates.  It has a diverse product portfolio and customer base across
three segments with consistent recurring sales.  The business is
resilient through economic cycles, evidenced by small decline in
sales during the 2008-2009 financial crisis.  However, a major
portion of Varsity Brands' revenue and EBITDA are seasonal and
highly dependent on the North American academic cycle.  Its revenue
also depends on school funding for primarily non-education-related
activities.  The industry in which Herff Jones operates is in
secular decline, and Herff Jones has a lower EBITDA margin compared
with its peers American Achievement and Visant. The company also
faces input cost volatility, namely metal and paper, which S&P
believes could be difficult to pass through to its customer base.

The stable outlook reflects S&P's expectation that the company will
deliver moderate profit growth through organic expansion and
tuck-in acquisitions, resulting in consistent free cash flow
generation, which should allow it to modestly improve credit
ratios, including adjusted debt to EDITDA to the high 5x area by
the end of next year.

S&P could lower the rating if a structural demand shift causes us
to reassess the company's business prospects.  This could occur if
there is a faster-than-expected decline in the achievement segment
or school funding for the generally non-education related
activities declines.  S&P could also lower the rating if there is a
material increase in input costs which the company is unable to
pass through to customers, which hurts profitability, or if the
company's financial policy becomes more aggressive, with
significant debt-financed acquisitions or dividends, resulting in
debt to EBITDA approaching 8x.  S&P estimates that EBITDA would
have to decline by 20% for this to occur.

S&P could raise the rating if the company delivers
stronger-than-expected organic operating performance through
product innovation, new account additions, or increased
cheerleading event activity, while maintaining stable margins.  An
upgrade would also entail the company's commitment to maintaining a
adjusted debt to EBITDA at or below 5x, which could result if debt
is reduced by $300 million compared to pro forma levels, or EBITDA
increases by 25%.


WARNER MUSIC: Seeking OK to Extend Credit Suisse Facility Maturity
------------------------------------------------------------------
WMG Acquisition Corp., an indirect, wholly-owned subsidiary of
Warner Music Group Corp., launched a process by which it is seeking
lender consent to an amendment to the credit agreement, dated Nov.
1, 2012, governing the Company's senior secured term loan facility
with Credit Suisse AG, as administrative agent, and the other
financial institutions and lenders from time to time party thereto.
If approved, the Credit Agreement Amendment will extend the
maturity date of the Company's Credit Agreement to
Nov. 1, 2023, subject, in certain circumstances, to a springing
maturity inside the maturity date of certain of the Company's other
outstanding indebtedness.

Meanwhile, on Oct. 13, 2016, the Company priced an offering of EUR
345 million 4.125% Senior Secured Notes due 2024 and $250 million
4.875% Senior Secured Notes due 2024.  The offering of these notes
is expected to close on Oct. 18, 2016.  On Oct. 18, 2016, the
Company also plans to consummate its cash tender offers for any and
all of its outstanding 6.250% Senior Secured Notes due 2021 and
6.000% Senior Secured Notes due 2021 and satisfy and discharge the
indenture relating to those notes (to the extent not accepted for
purchase in such tender offers).

                   About Warner Music Group

Based in New York, Warner Music Group Corp. (NYSE: WMG)
-- http://www.wmg.com/-- was formed by a private equity
consortium of investors on Nov. 21, 2003.  The Company is the
direct parent of WMG Holdings Corp., which is the direct parent of
WMG Acquisition Corp.  WMG Acquisition Corp. is one of the world's
major music-based content companies and the successor to
substantially all of the interests of the recorded music and music
publishing businesses of Time Warner Inc.

In May 2011, Warner Music Group Corp. and Access Industries, the
U.S.-based industrial group, announced the execution of a
definitive merger agreement under which Access Industries will
acquire WMG in an all-cash transaction valued at $3.3 billion.
The purchase includes WMG's entire recorded music and music
publishing businesses.

Warner Music reported a net loss attributable to the Company of $91
million on $2.96 billion of revenues for the fiscal year ended
Sept. 30, 2015, compared to a net loss attributable to the Company
of $308 million on $3.02 billion of revenues for the fiscal year
ended Sept. 30, 2014.

As of June 30, 2016, Warner Music had $5.49 billion in total
assets, $5.26 billion in total liabilities and $232 million in
total equity.

                           *     *     *

As reported by the TCR on Oct. 23, 2015, Standard & Poor's Ratings
Services lowered its corporate credit rating on Warner Music Group
to 'B' from 'B+'.  "The downgrades reflect our expectations that
WMG's adjusted leverage will remain elevated for the next two years
-- above our 5x threshold for the 'B+' corporate credit rating,"
said Standard & Poor's credit analyst Naveen Sarma.


WASHINGTON PROPERTIES: Hires HannaCRE as Marketing Consultant
-------------------------------------------------------------
Washington Properties, Inc. and its debtor-affiliates seek
authorization from the U.S. Bankruptcy Court for the Northern
District of Ohio to employ Hanna Commercial Real Estate
("HannaCRE") as marketing consultant.

The Debtors require HannaCRE to prepare Opinions of Value and
Auction Marketing Reports for the following properties:  

   (a) Clock Building – 13 Public Square, Medina, OH;

   (b) Granary Row – 307-325 S. Court St., Medina, OH;

   (c) 142 Building – 142 E. Liberty St., Wooster, OH;

   (d) Washington Park I, II, III, IV – 801 – 807 E. Washington
   
       St., Medina, OH;

   (e) Towne Square Commons – 23 Public Square, Medina, OH;

   (f) Neumeyer Complex – 277/281 S. Court St., Medina, OH;

   (g) Liberty Row – 431-457 W. Liberty, Medina, OH; and

   (h) Western Reserve of Medina - 3985-4015 Medina Road, Medina,
       OH.

HannaCRE will charge a $5,000 flat fee for consulting services and
written reports provided with regard to the Properties.  Any
additional properties added to the list will be billed at a flat
fee of $1,000 per property.  In the event HannaCRE is engaged to
market and sell any or all of the Properties, HannaCRE will rebate
$1,000 of the Consulting Fee for every Property sold and closed by
HannaCRE under such brokerage or auction agreement.

The Debtors will remit payment to HannaCRE in the amount of $5,000
in advance as a retainer for such consulting services and written
reports.

Mark S. Abood, principal and managing director of HannaCRE, 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.

HannaCRE can be reached at:

       Mark S. Abood
       HANNA COMMERCIAL REAL ESTATE
       1350 Euclid Avenue, Suite 700
       Cleveland, OH 44115
       Tel: (216) 839-2027

                     About Washington Properties

Washington Properties, Inc. filed a Chapter 11 bankruptcy petition
(Bankr. N.D. Ohio Case No. 16-50883) on Apr. 18, 2016.  The
petition was signed by Michael R. Rose as president and CEO.  The
Debtor disclosed estimated assets of between $100,000 to $500,000
and estimated liabilities between $10 million and $50 million.
Roderick Linton Belfance LLP serves as the Debtor's counsel.  Hon.
Alan M. Koschik presides over the case.



WIND ENTERTAINMENT: Plan Confirmation Hearing Set for Nov. 17
-------------------------------------------------------------
Nevada Bankruptcy Judge Laura E. Davis approved the disclosure
statement explaining Wind Entertainment Corp.'s Chapter 11 plan of
reorganization.  The Court will consider confirmation of the Plan
at a hearing on Nov. 17, 2016, at 9:30 a.m.

The hearing to consider approval of the Disclosure statement was
first held Sept. 6, 2016.  The Court requested additional changes
to the Disclosure statement at the status hearing on Sept. 20, and
the Debtor filed its Second Amended Disclosure Statement and its
First Amended Plan of Reorganization on Oct. 3.  The Disclosure
Statement Approval Order was entered Oct. 4.

The Court also approved the Debtor's counsel, Schwartz Flansburg
PLLC, as the solicitation and tabulation agent.

The Court set Nov. 3, 2016, as the last date for creditors to cast
their vote to accept or reject the Plan.  Objections to
confirmation of the Plan are also due Nov. 3.  Replies to the
confirmation objection are due Nov. 10.

Wind Entertainment's Second Amended Disclosure Statement and Plan
provide that Class 6 will consist of the unsecured claims of FX
Luxury Las Vegas I, LLC, in the approximate amount of $455,851,
plus the security deposit in the amount of $100,000, which was
previously applied against the rent by FX Luxury.  FX Luxury's
unsecured claims are separately classified as they will be
resolved, if at all, in accordance with the Debtor's assumption or
rejection of the lease through its Plan, and paid over 60 months or
as may be agreed upon by the parties.  If FX Luxury agrees to allow
the Debtor to repay its claims over 60 months, the Debtor's rent
will increase by $9,264 per month.  If it is determined that FX
Luxury's unsecured claims are paid pursuant to Section 365 of the
Bankruptcy Code then FX Luxury's claims will be reclassified at
confirmation as an administrative claim of the Estate, and Class 6
will be vacated.    

The Disclosure Statement says the Debtor is negotiating with FX
Luxury regarding the assumption of the lease and an extension of
the lease, as the lease is currently set to expire on Oct. 31,
2018, the Debtor is seeking a five-year extension of the lease.  In
connection with any extension, however, FX Luxury may require a
recapture provision, which will allow FX Luxury to recapture the
leased premises upon 90 days' notice to the Debtor.  In the event
FX Luxury exercises any right to recapture the leased premises, the
Debtor's business operations may cease and general unsecured claims
may receive no payments in the case.
   
Class 7 consists of General Unsecured Claims, which are not secured
by property of the Estate and are not entitled to priority under
Section 507(a) of the Bankruptcy Code, but are entitled in this
case to separate classification in accordance with Section 1122(b)
of the Bankruptcy Code.  General Unsecured Claims will be paid
approximately 1% to 2% of their claims from the Debtor's excess
income over a period of 60 months, after payment of all secured,
administrative, and priority claims, including all claims in
Classes 1 through 6.  If the Debtor's excess income is only
sufficient to pay the claims of Classes 1 through 6, Class 7
General Unsecured Claims may receive no payments in the case.  If
FX Luxury, the Debtor's landlord, exercises any right to recapture
the leased premises, the Debtor's business operations may cease and
general unsecured claims may receive no payments in the case.

Upon the Effective Date, the provisions of the Plan will constitute
a good faith compromise and settlement of all claims and equity
interests and controversies resolved pursuant to the Plan.  Nothing
in the Plan is meant to waive or impair any of the Debtor's and the
Estate's causes of action or avoidance actions, or the proceeds
thereof, as any may be transferred and litigated or settled by the
Reorganized Debtor.

The Second Amended Disclosure Statement is available at:

           http://bankrupt.com/misc/nvb16-10391-98.pdf

                 About Wind Entertainment Corp.

Wind Entertainment Corp. was formed in December 2012, and operates
an entertainment business which provides a platform for performing
arts, magic and illusion shows, and nightlife entertainment on the
Las Vegas Strip, just north of the MGM Grand Hotel and Casino, in
Las Vegas, Nevada.  Thomas J. Riccardo, Jr., is the Debtor's
president and owner of the Debtor.  

The Debtor's central asset is its lease agreement with FX Luxury
Las Vegas I, LLC, for the lease of the premises located at 3765
South Las Vegas Boulevard, Las Vegas, Nevada 891019.  The Premises
consist of the Wind Theater (also known as the TW Theater Night
Club and Events Center) where the Debtor operates its
entertainment
business and provides several performing arts, magic, illusion and
other shows on the Las Vegas Strip.

The Debtor sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. D. Nev. Case No. 16-10391) on Jan. 28, 2016.  The
Debtor is represented by Samuel A. Schwartz, Esq., at Schwartz
Flansburg PLLC.


YAPPN CORP: Working Capital Deficit Raises Going Concern Doubt
--------------------------------------------------------------
Yappn Corp. filed with the U.S. Securities and Exchange Commission
its quarterly report on Form 10-Q, disclosing a net loss of $1.78
million on $100,068 of revenues for the three months ended Aug. 31,
2016, compared to a net loss of $166,648 on $758,159 of revenues
for the same period in 2015.

The Company's balance sheet at Aug. 31, 2016, showed total assets
of $5.55 million, total liabilities of $8.34 million and
stockholders' deficit of $2.79 million.

The Company has experienced negative cash flows from operations
since inception and has incurred a deficit of $23,447,696 through
August 31, 2016.

As of August 31, 2016, the Company had a working capital deficit of
$1,407,491.  During the three months ended August 31, 2016, net
cash used in operating activities was $471,341.  Management expects
to have similar cash needs for the next twelve months.  At the
present time, the Company does not have sufficient funds to fund
operations over the next twelve months.

Implementation of its business plan will require additional debt or
equity financing and there can be no assurance that additional
financing can be obtained on acceptable terms.  The company has
realized limited revenues to cover its operating costs.  As such,
the Company has incurred an operating loss since inception.  This
and other factors raise substantial doubt about its ability to
continue as a going concern.  The Company's continuation as a going
concern is dependent on its ability to meet its obligations, to
obtain additional financing as may be required and ultimately to
attain profitability.

A full-text copy of the Company's Form 10-Q is available at:

                     https://is.gd/L5nHYI

Yappn Corp. is a real-time multilingual company that aims to
amplify brand and social messaging, expand online commerce and
provide customer support by globalizing these experiences with its
proprietary technologies, solutions and linguistic computational
approach to language service and engagement.  The Company maintains
its headquarters in New York.



[*] B3-Neg. and Lower Corporate Ratings Dips Again, Moody's Says
----------------------------------------------------------------
The number of companies on the B3 Negative and Lower Corporate
Ratings List dipped again at the end of September, reaching its
lowest tally since February, Moody's Investors Service says in a
new report.  , the list's composition suggests defaults are not
going away until at least the end of this year, with the proportion
of extremely low-rated (Ca/C) companies having risen from 0.6% to
7.4% in the past two years.

As of Oct. 1, 2016, Moody's B3 Negative and Lower Corporate Ratings
List numbered 269 companies, down 7.6% from an all-time high of
291, hit during the midst of credit crisis and again on April 1
this year.  Since July 1, the list has been below its three-month
moving average.

"Despite the continuing decline in the number of companies on our
B3 Negative and Lower list, we don't expect defaults to subside
this year," said Moody's associate analyst, Julia Chursin.  "The
share of companies rated Ca or C on the list has increased over the
past two years, with firms from the embattled oil and gas sector
representing the majority of these."

The share of companies rated Ca or C has risen to 7.4% from just
0.6% in the past two years, driven mainly by rating downgrades in
the energy sector, Chursin says in "Moody's B3 Negative and Lower
Corporate Ratings List: List Continues to Recede from Record Worst,
but Risk Remains Elevated."  Although energy-related downgrades
subsided in the second half of this year, Moody's other proprietary
risk gauges continue to point to the sector's vulnerabilities.

In the past three months, defaults remained the primary reason for
companies leaving the B3 Negative and Lower Corporate Ratings List,
Moody's says.  Even so, the absolute number of defaults was lower
in the third quarter than it was during the first half of this
year.  And in September, benign rating actions slightly outnumbered
rating actions related to defaults, four to three.

Moody's other proprietary indicators of speculative-grade credit
quality have improved somewhat, though the US speculative-grade
default rate is expected to increase to 5.9% at year-end from 5.4%
currently, before receding in 2017.  Meanwhile, Moody's
Liquidity-Stress Index has eased to 7.1% from 8.7% a quarter ago,
but also signals rising defaults in the near term.  And Moody's
Covenant Quality Index has stabilized for the first time since
2013, though investor protections remain very weak.


[^] Recent Small-Dollar & Individual Chapter 11 Filings
-------------------------------------------------------
In re Christine Elizabeth Holifield
   Bankr. C.D. Cal. Case No. 16-22437
      Chapter 11 Petition filed September 19, 2016
         represented by: Michael I Gottfried, Esq.
                         E-mail: mgottfried@lgbfirm.com

In re 1102 Gretta St. NE Trust
   Bankr. D.N.M. Case No. 16-12333
      Chapter 11 Petition filed September 19, 2016
         See http://bankrupt.com/misc/nmb16-12333.pdf
         represented by: Patrick Lopez, Esq.
                         E-mail: patrick.lopez.esq@gmail.com

In re Congregation Bais Chesed of Monsey
   Bankr. S.D.N.Y. Case No. 16-23265
      Chapter 11 Petition filed September 19, 2016
         See http://bankrupt.com/misc/nysb16-23265.pdf
         represented by: Allen A. Kolber, Esq.
                         LAW OFFICES OF ALLEN A. KOLBER, ESQ.
                         E-mail: akolber@kolberlegal.com

In re Remond Remodeling Co., Inc.
   Bankr. M.D. Pa. Case No. 16-03860
      Chapter 11 Petition filed September 19, 2016
         See http://bankrupt.com/misc/pamb16-03860.pdf
         Filed Pro Se

In re Francisco J Baez Rivera
   Bankr. D.P.R. Case No. 16-07473
      Chapter 11 Petition filed September 19, 2016
         represented by: Modesto Bigas Mendez, Esq.
                         BIGAS & BIGAS
                         E-mail: modestobigas@yahoo.com

In re Bang T. Phan
   Bankr. C.D. Cal. Case No. 16-12920
      Chapter 11 Petition filed October 10, 2016
         represented by: John K. Rounds, Esq.
                         ROUNDS & SUTTER, LLP
                         E-mail: jrounds@rslawllp.com

In re Alexander Martin Westmoreland
   Bankr. D. Md. Case No. 16-23552
      Chapter 11 Petition filed October 10, 2016
         See http://bankrupt.com/misc/mdb16-23552.pdf
         represented by: Morgan William Fisher, Esq.
                         LAW OFFICES OF MORGAN FISHER LLC
                         E-mail: bk@morganfisherlaw.com

In re Jovita Thomas-Williams
   Bankr. E.D. Mich. Case No. 16-53848
      Chapter 11 Petition filed October 10, 2016
         represented by: Guy T. Conti, Esq.
                         THE LAW OFFICES OF GUY T. CONTI, PLLC
                         E-mail: gconti@contilegal.com

In re Maria Eugenia Fernandez Tamayo
   Bankr. D.P.R. Case No. 16-08104
      Chapter 11 Petition filed October 10, 2016
         represented by: Wigberto Mercado Barbosa, Esq.
                         E-mail: lcdowmercado@yahoo.com
In re George Mkitarian
   Bankr. C.D. Cal. Case No. 16-23364
      Chapter 11 Petition filed October 11, 2016
         represented by: Dana M Douglas, Esq.
                         E-mail: dmddouglas@hotmail.com

In re R. Michael Parrotte
   Bankr. D. Md. Case No. 16-23607
      Chapter 11 Petition filed October 11, 2016
         represented by: Daniel Charles Carroll, Esq.
                         CARROLL & FERGUSON
                         E-mail: danc@carrollandferguson.com

In re Pass Business Terminal LLC
   Bankr. S.D. Miss. Case No. 16-51767
      Chapter 11 Petition filed October 11, 2016
         See http://bankrupt.com/misc/mssb16-51767.pdf
         represented by: Matthew Louis Pepper, Esq.
                         MATTHEW PEPPER ATTY AT LAW
                         E-mail: pepperlaw@msn.com

In re Union Labor Management LLC
   Bankr. D.N.J. Case No. 16-29398
      Chapter 11 Petition filed October 11, 2016
         See http://bankrupt.com/misc/njb16-29398.pdf
         represented by: Melinda D. Middlebrooks, Esq.
                         MIDDLEBROOKS SHAPIRO, P.C.
                         E-mail:
middlebrooks@middlebrooksshapiro.com

In re Stephen N. Berry
   Bankr. D.N.J. Case No. 16-29402
      Chapter 11 Petition filed October 11, 2016
         represented by: David E. Sklar, Esq.
                         SCURA WIGFIELD HEYER & STEVENS LLP
                         E-mail: dsklar@scuramealey.com

In re Adrian Solis
   Bankr. D. Nev. Case No. 16-15499
      Chapter 11 Petition filed October 11, 2016
         represented by: Michael J. Harker, Esq.
                         E-mail: notices@harkerlawfirm.com

In re Cannelle Patisserie Inc.
   Bankr. E.D.N.Y. Case No. 16-44577
      Chapter 11 Petition filed October 11, 2016
         See http://bankrupt.com/misc/nyeb16-44577.pdf
         represented by: Daniel C Marotta, Esq.
                         GABOR & MAROTTA LLC
                         E-mail: dan@gabormarottalaw.com

In re Maddybrand, Inc.
   Bankr. W.D.N.Y. Case No. 16-11990
      Chapter 11 Petition filed October 11, 2016
         See http://bankrupt.com/misc/nywb16-11990.pdf
         represented by: James M. Joyce, Esq.
                         E-mail: jmjoyce@lawyer.com

In re GEO Properties Corporation
   Bankr. W.D.N.Y. Case No. 16-11992
      Chapter 11 Petition filed October 11, 2016
         See http://bankrupt.com/misc/nywb16-11992.pdf
         represented by: James M. Joyce, Esq.
                         E-mail: jmjoyce@lawyer.com

In re Appliances Plus, Inc.
   Bankr. W.D. Pa. Case No. 16-23814
      Chapter 11 Petition filed October 11, 2016
         See http://bankrupt.com/misc/prb16-23814.pdf
         represented by: Christopher M. Frye, Esq.
                         STEIDL & STEINBERG
                         E-mail: chris.frye@steidl-steinberg.com

In re Jerimi G. Brink
   Bankr. W.D. Pa. Case No. 16-23831
      Chapter 11 Petition filed October 11, 2016
         represented by: Christopher M. Frye, Esq.
                         STEIDL & STEINBERG
                         E-mail: chris.frye@steidl-steinberg.com

In re Sylvia Rosa Villafane Alvarado
   Bankr. D.P.R. Case No. 16-08111
      Chapter 11 Petition filed October 11, 2016
         represented by: Javier Vilarino, Esq.
                         VILARINO & ASSOCIATES LLC
                         E-mail: jvilarino@vilarinolaw.com

In re El Cano Development Inc.
   Bankr. D.P.R. Case No. 16-08122
      Chapter 11 Petition filed October 11, 2016
         See http://bankrupt.com/misc/prb16-08122.pdf
         represented by: Modesto Bigas Mendez, Esq.
                         BIGAS & BIGAS
                         E-mail: modestobigas@yahoo.com

In re A+ Automotive Repair, Inc.
   Bankr. M.D. Tenn. Case No. 16-07314
      Chapter 11 Petition filed October 11, 2016
         See http://bankrupt.com/misc/tnmb16-07314.pdf
         represented by: Griffin S. Dunham, Esq.
                         DUNHAM HILDEBRAND, PLLC
                         E-mail: griffin@dhnashville.com

In re A & J Towing and Recovery, Inc.
   Bankr. M.D. Tenn. Case No. 16-07315
      Chapter 11 Petition filed October 11, 2016
         See http://bankrupt.com/misc/tnmb16-07315.pdf
         represented by: Griffin S. Dunham, Esq.
                         DUNHAM HILDEBRAND, PLLC
                         E-mail: griffin@dhnashville.com
In re Farmer's Mechanical Services, LLC
   Bankr. D. Ariz. Case No. 16-11740
      Chapter 11 Petition filed October 12, 2016
         See http://bankrupt.com/misc/azb16-11740.pdf
         represented by: THOMAS H. ALLEN, Esq.
                         ALLEN BARNES & JONES, PLC
                         E-mail: tallen@allenbarneslaw.com

In re Ashmel Pumbing Company LLC
   Bankr. N.D. Ga. Case No. 16-68245
      Chapter 11 Petition filed October 12, 2016
         See http://bankrupt.com/misc/ganb16-68245.pdf
         represented by: Joel Aldrich Jothan Callins, Esq.
                         THE CALLINS LAW FIRM, LLC
                         E-mail: jcallins@callins.com

In re Robert V. Thompson and Linda J. Thompson
   Bankr. N.D. Ill. Case No. 16-32500
      Chapter 11 Petition filed October 12, 2016
         represented by: Joel A. Schechter, Esq.
                         LAW OFFICES OF JOEL SCHECHTER
                         E-mail: joelschechter@covad.net

In re Zhengang Guo
   Bankr. N.D. Ill. Case No. 16-32560
      Chapter 11 Petition filed October 12, 2016
         represented by: Robert R. Benjamin, Esq.
                         GOLAN & CHRISTIE, LLP
                         E-mail: rrbenjamin@golanchristie.com

In re Control Valve Specialists, Inc.
   Bankr. E.D. La. Case No. 16-12521
      Chapter 11 Petition filed October 12, 2016
         See http://bankrupt.com/misc/laeb16-12521.pdf
         represented by: Cherie D. Nobles, Esq.
                         HELLER, DRAPER, PATRICK, HORN & DABNEY
                         E-mail: cnobles@hellerdraper.com

In re Shoney, LLC
   Bankr. D. Mass. Case No. 16-13905
      Chapter 11 Petition filed October 12, 2016
         See http://bankrupt.com/misc/mab16-13905.pdf
         represented by: Gary W. Cruickshank, Esq.
                         LAW OFFICE OF GARY W. CRUICKSHANK
                         E-mail: gwc@cruickshank-law.com

In re Hernan Sanchez and Janeth A. Gomez Rojas
   Bankr. D.N.J. Case No. 16-29482
      Chapter 11 Petition filed October 12, 2016
         represented by: Melinda D. Middlebrooks, Esq.
                         MIDDLEBROOKS SHAPIRO, P.C.
                         E-mail:
middlebrooks@middlebrooksshapiro.com

In re Susan M. DiBiase Lutz
   Bankr. D.N.J. Case No. 16-29499
      Chapter 11 Petition filed October 12, 2016
         represented by: Ellen M. McDowell, Esq.
                         MCDOWELL POSTERNOCK APELL & DETRICK, PC
                         E-mail: emcdowell@mpadlaw.com

In re Lattuca Enterprises, LLC
   Bankr. W.D.N.Y. Case No. 16-12018
      Chapter 11 Petition filed October 12, 2016
         See http://bankrupt.com/misc/laeb16-12018.pdf
         represented by: Richard J. Steiner, Esq.
                         STEINER & BLOTNIK
                         E-mail: rsteiner@steinerblotnik.com

In re Andrea Distributing Inc.
   Bankr. W.D. Wis. Case No. 16-13479
      Chapter 11 Petition filed October 12, 2016
         See http://bankrupt.com/misc/wiwb16-13479.pdf
         represented by: Thomas O. Mulligan, II, Esq.
                         MULLIGAN LAW OFFICE
                         E-mail: thomasomulligan@gmail.com

In re Jane E. O'Brien
   Bankr. D. Mass. Case No. 16-13922
      Chapter 11 Petition filed October 13, 2016
         represented by: David G. Baker, Esq.
                         E-mail: david@bostonbankruptcy.org
In re Marco Tulio Palma
   Bankr. E.D. Cal. Case No. 16-26804
      Chapter 11 Petition filed October 13, 2016
         Filed Pro Se

In re James Michael Summers
   Bankr. D. Colo. Case No. 16-20128
      Chapter 11 Petition filed October 13, 2016
         represented by: Aaron A Garber, Esq.
                         E-mail: Aaron@bandglawoffice.com

In re Gregory S. Wojcieszak
   Bankr. D. Mass. Case No. 16-13923
      Chapter 11 Petition filed October 13, 2016
         represented by: Keith A. Mitchell, Esq.
                         E-mail: bkma@keithmitchelllaw.com

In re Talley Enterprise Holdings, Inc.
   Bankr. S.D. Miss. Case No. 16-51778
      Chapter 11 Petition filed October 13, 2016
         See http://bankrupt.com/misc/mssb16-51778.pdf
         represented by: Jarrett Little, Esq.
                         LENTZ & LITTLE, PA
                         E-mail: Jarrett@lentzlittle.com

In re Olive Branch Real Estate Development LLC
   Bankr. D.N.H. Case No. 16-11444
      Chapter 11 Petition filed October 13, 2016
         See http://bankrupt.com/misc/nhb16-11444.pdf
         represented by: S. William Dahar, II, Esq.
                         VICTOR W. DAHAR, P.A.
                         E-mail: swd2@att.net

In re 25 Lang St. LLC
   Bankr. D.N.H. Case No. 16-11445
      Chapter 11 Petition filed October 13, 2016
         See http://bankrupt.com/misc/nhb16-11445.pdf
         represented by: S. William Dahar, II, Esq.
                         VICTOR W. DAHAR, P.A.
                         E-mail: swd2@att.net

In re 169 Lexington Ave LLC
   Bankr. E.D.N.Y. Case No. 16-44597
      Chapter 11 Petition filed October 13, 2016
         See http://bankrupt.com/misc/nyeb16-44597.pdf
         Filed Pro Se

In re GSPCO Contracting Inc.
   Bankr. W.D.N.Y. Case No. 16-12048
      Chapter 11 Petition filed October 13, 2016
         See http://bankrupt.com/misc/nywb16-12048.pdf
         represented by: Matthew Allen Lazroe, Esq.
                         LAW OFFICE OF MATTHEW A. LAZROE
                         E-mail: lazroebankruptcy@gmail.com

In re SCRP, LLC
   Bankr. N.D.W. Va. Case No. 16-01048
      Chapter 11 Petition filed October 13, 2016
         See http://bankrupt.com/misc/wvnb16-01048.pdf
         represented by: John Alexander Scott, Esq.
                         LAW OFFICE OF JOHN A. SCOTT
                         E-mail: wvjas58@aol.com
In re Faramarz Hahakha
   Bankr. C.D. Cal. Case No. 16-12956
      Chapter 11 Petition filed October 14, 2016
         represented by: Onyinye N Anyama, Esq.
                         ANYAMA LAW FIRM
                         E-mail: onyi@anyamalaw.com

In re Michael Igal Maimon
   Bankr. C.D. Cal. Case No. 16-23603
      Chapter 11 Petition filed October 14, 2016
         Filed Pro Se

In re Charlie Brown's Hauling & Demolition, Inc.
   Bankr. M.D. Fla. Case No. 16-08863
      Chapter 11 Petition filed October 14, 2016
         See http://bankrupt.com/misc/flmb16-08863.pdf
         represented by: Buddy D. Ford, Esq.
                         BUDDY D. FORD, P.A.
                         E-mail: Buddy@TampaEsq.com

In re David J. Cattar
   Bankr. W.D. La. Case No. 16-31574
      Chapter 11 Petition filed October 14, 2016
         Filed Pro Se

In re Centorbi Custom Cabinetry, Inc.
   Bankr. E.D. Mo. Case No. 16-47461
      Chapter 11 Petition filed October 14, 2016
         See http://bankrupt.com/misc/moeb16-47461.pdf
         represented by: Thomas H. Riske, Esq.
                         DESAI EGGMANN MASON LLC
                         E-mail: triske@demlawllc.com

In re Editha Friala Salvador
   Bankr. E.D.N.Y. Case No. 16-44645
      Chapter 11 Petition filed October 14, 2016
         Filed Pro Se

In re Cheetah Auto Collision
   Bankr. E.D.N.Y. Case No. 16-74755
      Chapter 11 Petition filed October 14, 2016
         See http://bankrupt.com/misc/nyeb16-74755.pdf
         represented by: Roy J Lester, Esq.
                         LESTER & ASSOCIATES, P.C.
                         E-mail: rlester@rlesterlaw.com

In re Cold Springs Terminal LLC
   Bankr. N.D.N.Y. Case No. 16-31449
      Chapter 11 Petition filed October 14, 2016
         See http://bankrupt.com/misc/nynb16-31449.pdf
         Filed Pro Se

In re Robert David Campbell
   Bankr. S.D.N.Y. Case No. 16-12867
      Chapter 11 Petition filed October 14, 2016
         represented by: Douglas J. Pick, Esq.
                         PICK & ZABICKI LLP
                         E-mail: dpick@picklaw.net

In re Bronx Realty Enterprises Corp.
   Bankr. S.D.N.Y. Case No. 16-12889
      Chapter 11 Petition filed October 14, 2016
         See http://bankrupt.com/misc/nysb16-12889.pdf
         represented by: Eric H. Horn, Esq.
                         VOGEL BACH & HORN, LLP
                         E-mail: ehorn@vogelbachpc.com

In re DJB Development LLC
   Bankr. W.D.N.Y. Case No. 16-12061
      Chapter 11 Petition filed October 14, 2016
         See http://bankrupt.com/misc/nywb16-12061.pdf
         Filed Pro Se

In re Donald J. Braasch Construction Inc.
   Bankr. W.D.N.Y. Case No. 16-12062
      Chapter 11 Petition filed October 14, 2016
         See http://bankrupt.com/misc/nywb16-12062.pdf
         Filed Pro Se

In re McCormick Architecture, LLC
   Bankr. W.D. Tex. Case No. 16-31649
      Chapter 11 Petition filed October 14, 2016
         See http://bankrupt.com/misc/txwb16-31649.pdf
         represented by: Carlos A. Miranda, III, Esq.
                         MIRANDA & MALDONADO, P.C.
                         E-mail: cmiranda@mirandafirm.com

In re Joseph F. Heath
   Bankr. E.D. Va. Case No. 16-13486
      Chapter 11 Petition filed October 14, 2016
         represented by: Richard G. Hall, Esq.
                         E-mail: richard.hall33@verizon.net

In re Seico Gerardo Barahona Sierra
   Bankr. D.P.R. Case No. 16-08271
      Chapter 11 Petition filed October 15, 2016
         represented by: Enrique M Almeida Bernal, Esq.
                         ALMEIDA & DAVILA PSC
                         E-mail: info@almeidadavila.com

In re The Housing Link, LLC
   Bankr. W.D.N.Y. Case No. 16-12089
      Chapter 11 Petition filed October 16, 2016
         See http://bankrupt.com/misc/nywb16-12089.pdf
         represented by: Matthew Allen Lazroe, Esq.
                         LAW OFFICE OF MATTHEW A. LAZROE
                         E-mail: lazroebankruptcy@gmail.com

In re JAML982 LP
   Bankr. W.D.N.Y. Case No. 16-12090
      Chapter 11 Petition filed October 16, 2016
         See http://bankrupt.com/misc/nywb16-12090.pdf
         represented by: Matthew Allen Lazroe, Esq.
                         LAW OFFICE OF MATTHEW A. LAZROE
                         E-mail: lazroebankruptcy@gmail.com


                            *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

TCR subscribers have free access to our on-line news archive.
Point your Web browser to http://TCRresources.bankrupt.com/and use
the e-mail address to which your TCR is delivered to login.

                            *********

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 ***