TCR_Public/161124.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, November 24, 2016, Vol. 20, No. 328

                            Headlines

1672 45TH STREET: Hires Garvey Tirelli as Attorneys
207 AINSLIE: Has Until December 30 to File Plan of Reorganization
869 ALVARADO VENTURES: Voluntary Chapter 11 Case Summary
ABERCROMBIE & FITCH: S&P Affirms 'BB-' CCR; Outlook Altered to Neg.
ACORN ENERGY: Insufficient Cash Flow Raises Going Concern Doubt

AEROJET ROCKETDYNE: S&P Raises CCR to 'B+'; Outlook Positive
AIR SUB CORP: Unsecureds to Get 60 Monthly Payments of $807
ALESSI FAMILY: Taps Behar Gutt as Bankruptcy Attorney
ALGOZINE MASONRY: Hires O Allan Fridman as Counsel
AMERICAN APPAREL: U.S. Trustee Forms 7-Member Committee

AMERICAN EAGLE: Court Confirms Further Revised Liquidation Plan
AMERICAN HOUSING: Recurring Losses Raise Going Concern Doubt
ANGELO PERRY THROWER: Unsecureds to be Paid $500 Monthly for 60 Mos
ARUBA PETROLEUM: Case Summary & 20 Largest Unsecured Creditors
ASCENT SOLAR: Current Capital Requirements Cast Going Concern Doubt

BASIC ENERGY: Court Approves Key Employee Retention Plan
BASIC ENERGY: NYSE Accepts Plan for Continued Listing
BASIC ENERGY: Posts $92.1 Million Net Loss for Sept. 30 Quarter
BASS PRO: Moody's Assigns 'B1' Rating to New $400MM Term Loan-A
BAVARIA YACHTS: U.S. Trustee Unable to Appoint Committee

BCDG LP: Wants to Use RBS Citizens Cash Collateral
BGM PASADENA: Wants Exclusivity Extended Thru Jan. 9 Plan Hearing
BIG APPLE CIRCUS: Gets Buyers' Expressions of Interest
BILTMORE 24 INVESTORS: Case Summary & 20 Top Unsecured Creditors
BIONIK LABORATORIES: Needs Financing to Continue as a Going Concern

BIORESTORATIVE THERAPIES: Recurring Losses Cast Going Concern Doubt
BROOKLYN INTERIORS: Wants to Move Plan Filing Period to Feb. 17
BROUGHER INC: Hires H Gray Burks as Special Litigation Counsel
CAESARS ENTERTAINMENT: U.S. Trustee Objects to Ch. 11 Exit Plan
CALMARE THERAPEUTICS: Needs More Time to File Form 10-Q

CARLYLE GLOBAL 2015-3: S&P Affirms B- Rating on Class E Notes
CHINA TELETECH: Rescinds Jinke Exchange Agreement
CHS/COMMUNITY HEALTH: Moody's Affirms B2 CFR; Outlook Negative
CONSTELLATION ENTERPRISES: Court OKs Settlement With EPA, NOAA
CRIIMI MAE 1998-C1: S&P Raises Rating on Class G Notes to B-

CRYOPORT INC: Incurs $2.18 Million Net Loss in Second Quarter
CRYSTAL LAKE GOLF: Needs Until August 2017 to File Ch.11 Plan
CSM BAKERY: S&P Lowers CCR to 'CCC+' on Operational Stumbles
CVENT INC: Moody's Retains B3 CFR on $73MM Debt Increase
CVENT INC: S&P Assigns 'B-' CCR on Acquisition by Vista Equity

DAVID WINSTON: Voluntary Chapter 11 Case Summary
DAYA MEDICALS: Receiver Violated Automatic Stay, Court Rules
DE-TECH COLLISION: Can Use Cash Collateral on Interim Basis
DELTA TECHNOLOGY: Centurion ZD CPA Raises Going Concern Doubt
DEVAL CORPORATION: Taps Smith Kane as Counsel

DIAMOND US: Moody's Lowers CFR to B2; Outlook Stable
DJO GLOBAL: S&P Affirms 'B-' CCR & Revises Outlook to Negative
DOLPHIN DIGITAL: Needs More Time to File Sept. 30 Form 10-Q
ECOSPHERE TECHNOLOGIES: Delays Filing of Sept. 30 Form 10-Q
EFRON DORADO: PRAPI Entitled to Relief From Stay, Court Rules

ELWOOD ENERGY: Moody's Affirms Ba3 Rating on Sr. Sec. Bonds Due 202
ENERGY FUTURE: Bankr. Court Suggests Remand of Lienholders' Suit
ENERGY FUTURE: Court Issues Opinion on Delaware Trust's Motion
ENERGY TRANSFER: Moody's Affirms Ba1 Rating on Jr. Sub. Bond
ENERGY XXI: Court OKs 2nd Supplement to 3rd Amended Plan Outline

EXPERIMENTAL MACHINE: Wants to Use M&T Bank Cash Collateral
EXQUISITE DESIGNS: 5th Cir. Upholds Lifting of Stay for First Bank
EXTREME PLASTICS: Plan Filing Period Extended Through January 28
FIRST NBC: Receives Nasdaq Notice on Delayed Form 10-Q Filing
FLEXI-VAN LEASING: S&P Cuts CCR to B on Weakened Credit Metrics

FOUR CORNERS: Hires Suzy Tate as Counsel
GARLOCK SEALING: EnPro Agrees to Settle Canadian Asbestos Claims
GEO V. HAMILTON: Needs Until March 31 to File Chapter 11 Plan
GLYECO INC: Incurs $699,000 Net Loss in Third Quarter
GOLDEN HARVEST CULINARY: Seeks Approval to Hire Attorneys

GOLDEN HARVEST CULINARY: Seeks to Hire Partners Tax as Accountant
GREAT NORTHERN BREWING: Court Allows Cash Use on Final Basis
GROW CONDOS: Incurs $506,000 Net Loss in Sept. 30 Quarter
GUIDED THERAPEUTICS: Delays Filing of Sept. 30 Form 10-Q
HAGGEN HOLDINGS: Court Moves Plan Filing Period Through Feb. 1

HALCON RESOURCES: Franklin Resources, et al, Report 36.8% Stake
HEBREW HEALTH: Patient's Family Expresses Concerns, PCO Report Says
HERCULES OFFSHORE: Plan Filing Deadline Extended Through Jan. 3
HPIL HOLDING: Delays Filing of Sept. 30 Form 10-Q
HPIL HOLDING: Inks $5.6M Purchase Agreement with GPL Ventures

IMAGEWARE SYSTEMS: Incurs $2.74 Million Net Loss in Third Quarter
IMMUDYNE: Negative Cash Flow Raises Going Concern Doubt
IMPAX LABORATORIES: S&P Lowers CCR to 'BB-' on Weak Third Quarter
INEEDMD HOLDINGS: Rosenberg Rich Expresses Going Concern Doubt
INT'L SHIPHOLDING: Court OKs Bid Procedures on Assets Sale

INTERPACE DIAGNOSTICS: Delays Filing of Sept. 30 Form 10-Q
INTREPID POTASH: Amends Note Purchase Agreement with Noteholders
IONIX TECHNOLOGY: Incurs $8,000 Net Loss in Sept. 30 Quarter
IOWA FERTILIZER: S&P Removes 'B' Rating on $1.194BB Financing
JAMES HALLIDAY: IAMI Claims To Be Paid By 2023 Under Plan

JAMES ROTH: Ex-Employee's Claims Not Dischargeable, 9th Cir. Says
JENNIE STUART: S&P Assigns BB+ Rating on $54.5MM Tax-Exempt Bonds
KINGWOOD FOOD: Plan Confirmation Hearing on Dec. 7
KOPIN CORP: Receives Nasdaq Notice on Delayed 10-Q Filing
LATTICE INC: Delays Filing of Sept. 30 Form 10-Q

LEO MOTORS: To Terminate Engagement Letter with NMS Capital
LIME ENERGY: Amends Schedule 13E-3 Transaction Statement
LINC USA GP: Plan Exclusivity Period Moved to December 26
LINDA GRAVES JELINEK: Plan, Disclosures Hearing Set for Dec 17
LRI HOLDINGS: Restructuring Support Agreement Approved

LSB INDUSTRIES: Releases November 2016 Investor Presentation
MAHI LLC: Lender to Recoup 46% Under Liquidation Plan
MANHATTAN SCIENTIFICS: Cumulative Losses Raise Going Concern Doubt
MATRIX LUXURY: Unsecureds To Be Paid From Residence Sale Proceeds
MAXUS ENERGY: NJ Environmental Litigation Remanded to State Court

MCS GROUP: S&P Affirms 'B' CCR; Outlook Stable
MEDICAL PROPERTIES: S&P Affirms BB+ CCR Amid Tenant Liquidity Issue
MENDOCINO BREWING: Needs More Financing to Continue as Going Concen
MOBILEDIRECT INC: Needs Until Jan 12 to File Plan Amid Sale Talks
MODULAR SPACE: S&P Withdraws 'SD' Rating on Missed Interest Payment

MONSTER DIGITAL: Recurring Losses Raise Going Concern Doubt
NANOVIBRONIX: Incurs $606,000 Net Loss in Third Quarter
NEOVASC INC: Incurs $29.1 Million Net Loss in Third Quarter
NET ELEMENT: Incurs $3.46 Million Net Loss in Third Quarter
NEW GLOBAL: Delays Filing of Sept. 30 Form 10-Q

NEW INVESTMENTS: 9th Cir. Says Pacifica May Fix Post-Default Rate
NEXT GROUP: Delays Filing of Sept. 30 Quarterly Report
NORTEL NETWORKS: Ex-Employee Can't Amend Stipulation, 3rd Cir. Says
NORTH ATLANTIC TRADING: Moody's Affirms B2 CFR; Outlook Stable
NORTHERN POWER: Incurs $1.35 Million Net Loss in Third Quarter

NUSTAR ENERGY: S&P Assigns 'B+' Rating on $200MM Preferred Stock
O&G LEASING: PDC Awarded Over $250K in Damages vs. ORF
OCEAN PARKWAY: SLG Assets To Be Paid From Sale Proceeds
OSCAR NAVARRO: Asks Court To Approve Plan Outline
OTERO COUNTY: Ch. 11 Plan Enjoins Malpractice Suit in State Court

OXFORD FINANCE: S&P Raises ICR to 'BB-' on Reduced Leverage
PACIFIC 9: Plan Exclusivity Period Extended
PERFORMANCE SPORTS: Amends DIP Financing Agreement
PERFORMANCE SPORTS: Committee Objects to DIP Financing Motion
PERFORMANCE SPORTS: NYSE Intends to Delist Common Shares

PETROLIA ENERGY: Recurring Losses Raises Going Concern Doubt
PLANET INTERMEDIATE: S&P Affirms 'BB-' CCR; Outlook Remains Stable
POWIN ENERGY: Needs to Generate Cash to Continue as a Going Concern
PRESSURE BIOSCIENCES: Incurs $945,000 Net Loss in Third Quarter
PRIORITY HOLDINGS: S&P Assigns 'B' CCR & Rates US$25MM Loan 'B'

RAYMOND WALDING: Disclosures Okayed; Plan Hearing on Jan. 10
RESIDENTIAL CAPITAL: Trust Appoints Ray as Liquidating Manager
RICHARD DADASIEWICZ: Unsecureds To Get $100 for 60 Months
ROOMSTORES OF PHOENIX: Unsecureds May Be Paid 1% Per Annum
ROTH MANAGEMENT: 9th Cir. Affirms Ruling Upholding Objections

RSF 17872: Pursues Asset Sale, Needs Until March 20 to File Plan
SAAD INC: Court Allows Cash Collateral Use Through Jan. 31
SANDIA RESORTS: Bid for Designation of Ramada's Ballots Denied
SCRIPSAMERICA INC: UST & Committee Object to Disbandment Motion
SG ACQUISITION: S&P Affirms 'B' CCR & Rates Facilities 'B'

SH 130 CONCESSION: Senior Secured Creditors To Get 37% Under Plan
SITEONE LANDSCAPE: Moody's Retains B1 CFR on New Loan Add-On
SKYLINE MANOR: Dane Starbuck's Appeal Premature, Court Says
SPD LLC: U.S. Trustee Unable to Appoint Committee
SPECTRUM BRANDS: Moody's Affirms B1 CFR & Changes Outlook to Dev.

ST. JUDE NURSING: No More Foul Odors, PCO 5th Report Says
STEPHEN HO LEE: Disclosure Statement Denied
SUNEDISON INC: Plan Filing Deadline Extended Until January 26
TAYLOR BEAN: Can Clawback $1.59MM Payments to Chisholm Properties
TMX FINANCE: S&P Lowers ICR to 'B-' on Weak Financial Performance

TRANSTAR HOLDING: To Operate as Usual While in Chapter 11
TRINITY RIVER: Seeks January 31 Plan Exclusivity Extension
ULTRA PETROLEUM: Enters Into Plan Support Agreement
USG CORP: Moody's Raises CFR to Ba2; Outlook Positive
VIVA INVESTMENTS: Seeks February 21 Exclusivity Extension

WISCONSIN DAIRY: Counsel To Be Paid in Full at 3.5% Per Annum
WOMEN'S WELLNESS: Unsecured Creditors' Recovery Under Plan Unknown
[*] "Chapter 22" Looms Over Some Oil & Gas Bankruptcy Survivors
[^] Recent Small-Dollar & Individual Chapter 11 Filings

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1672 45TH STREET: Hires Garvey Tirelli as Attorneys
---------------------------------------------------
1672 45th Street LLC seeks authorization from the U.S. Bankruptcy
Court for the Eastern District of New York to employ the Garvey,
Tirelli & Cushner, Ltd. as attorneys.

The Debtor requires Garvey Tirelli to:

   (a) advise the Debtor concerning the conduct of the
       administration of the bankruptcy case;

   (b) prepare all necessary applications and motions as required
       under the Bankruptcy Code, Federal Rules of Bankruptcy
       Procedure and Local Bankruptcy Rules;

   (c) prepare a disclosure statement and plan of reorganization;
       and

   (d) perform all other legal services that are necessary to the
       administration of the case.

Garvey Tirelli will be paid at these hourly rates:

       Todd S. Cushner, partner        $500
       Lawrence A. Garvey, partner     $500
       Linda Tirelli, partner          $500
       Associate attorneys             $350
       Paralegals                      $200

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

Chaim Goldstein, an associate of the Debtor, paid Garvey Terilli a
$10,000 retainer.

Todd S. Cushner, partner of Garvey Tirelli, assured the Court that
the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code and does not represent any
interest adverse to the Debtor and its estate.

Garvey Tirelli can be reached at:

       Todd S. Cushner, Esq.
       GARVEY, TIRELLI & CUSHNER LTD.
       50 Main Street, Suite 390
       White Plains, NY 10606
       Tel: (914) 946-2200
       Fax: (914) 946-1300
       E-mail: todd@thegtcfirm.com

1672 45th Street, LLC, filed a Chapter 11 bankruptcy petition
(Bankr. E.D.N.Y. Case No. 16-44033) on September 8, 2016,
disclosing under $1 million in both assets and liabilities.

The Debtor is represented by Todd S. Cushner, Esq., at Garvey
Tirelli & Cushner.


207 AINSLIE: Has Until December 30 to File Plan of Reorganization
-----------------------------------------------------------------
Judge Nancy Hershey Lord of the U.S. Bankruptcy Court for the
Eastern District of New York extended the exclusive periods within
which only 207 Ainslie, LLC may file and solicit acceptances or
rejections to a plan of reorganization to December 30, 2016 and
February 28, 2017, respectively.

As reported by the Troubled Company Reporter, the Debtor asked the
Court to extend its exclusive periods, contending that it cannot
realistically formulate a plan until the time that its title to the
real property at 207-217 Ainslie Street, in Brooklyn, New York,
would be resolved.  In light of the pending motions by the City of
New York for remand, abstention and stay relief, which raise the
same fundamental issue as to which court is best positioned to
determine the Debtor's right in the property, the Debtor needs more
time to file a plan.

                                 About 207 Ainslie

207 Ainslie, LLC, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. E.D.N.Y. Case No. 16-41426) on April 1,
2016.  The petition was signed by Harry Einhorn, manager. The case
is assigned to Judge Nancy Hershey Lord.  The Debtor disclosed
total assets of $14 million and total debts of $5.07 million at the
time of filing.

The Debtor is represented by Kevin J Nash, Esq. at Goldberg Weprin
Finkel Goldstein LLP.


869 ALVARADO VENTURES: Voluntary Chapter 11 Case Summary
--------------------------------------------------------
Debtor: 869 Alvarado Ventures LLC
        San Francisco, CA 94131
        Tel: 415-579-0345

Case No.: 16-31259

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: November 22, 2016

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

Debtor's Counsel: Keefe E. Roberts, Esq.
                  KEEFE ROBERTS & ASSOCIATES, PLC
                  6 Venture #305
                  Irvine, CA 92618
                  Tel: (949) 242-7979
                  E-mail: bkinfo@kralawfirm.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Chris Durkin, managing member.

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/canb16-31259.pdf


ABERCROMBIE & FITCH: S&P Affirms 'BB-' CCR; Outlook Altered to Neg.
-------------------------------------------------------------------
S&P Global Ratings revised its outlook on Ohio-based apparel
retailer Abercrombie & Fitch Co. to negative from stable.  At the
same time, S&P affirmed all ratings, including the 'BB-' corporate
credit rating.

"We revised the outlook to reflect Abercrombie's performance in
recent quarters, which was meaningfully below our expectations.
This was primarily the result of ineffective merchandising,
unfavorable exchange rates pressuring the company's meaningful
tourism business, and increased industry competition," said credit
analyst Andrew Bove.  "These factors have reduced company
profitability, and we expect that they will continue to weigh on
company performance over the next 12 months.  Despite net closures
of 30-40 underperforming stores per year over the last several
years spread across both Hollister and Abercrombie, the company has
been unable to consistently improve profitability.  The company is
also in the beginning stages of a repositioning effort for the
Abercrombie & Fitch brand (which represents close to half of the
company's sales) to target a slightly older customer base, which we
believe could prove challenging to execute, and we expect
performance improvement will be gradual with ongoing same-store
sales declines and further weakening in the company's overall
operating margin over the next 12 months.  In addition to these
company-specific challenges, we believe the specialty apparel
industry will remain difficult.  This is because of heightened
industry competition (especially from fast fashion, online, and
off-pricing retailers), sustained highly promotional environment in
the U.S., and the continuing trend of customers spending less on
apparel and more on travel, health care, restaurants, housing, and
savings in light of sluggish wage growth."

The negative outlook reflects S&P's expectation for continued weak
operating performance over the next 12 months which may result in
credit measures deteriorating beyond our expectations.  S&P
believes traffic trends will remain challenged over that time
period as the Abercrombie & Fitch brand struggles to appeal to a
consumer base with rapidly changing preferences, and unfavorable
currency headwinds lead to persistently negative trends at tourist
dependent locations.  S&P believes the Abercrombie & Fitch brand
has fallen out of favor with customers in recent years, who are
increasingly seeking more fashion-forward items at a compelling
value.  As a result of these unfavorable trends, S&P forecasts
leverage to weaken to about 5.0x and FFO to total debt to decline
to about 13.0% over the next 12 months.

"We could lower the rating in the next year if the company is
unable to stabilize operating performance at the Abercrombie &
Fitch brand a result of ineffective merchandising and lower
consumer spending on discretionary items.  This would result in a
mid- to high-single-digit same-store sales decline at the
Abercrombie & Fitch brand (compared with our forecast of a
mid-single digit decline) while Hollister remains flat in fiscal
2017, coupled with an additional 50-basis-point decline beyond our
current base case scenario in total company gross margin due to
increased promotional activity.  Under this scenario, debt to
EBITDA would further weaken to the more than 5.0x on a sustained
basis.  In addition, continued underperformance or inability to
effectively manage its brand repositioning effort at the
Abercrombie & Fitch brand could also cause us to revise down our
assessment of the company's business, resulting in a lower rating,"
S&P noted.

S&P could revise the outlook back to stable if the company can
meaningfully improve operating performance and credit metrics over
the next 12 months by improving traffic trends and decreasing
promotional activity.  Under this scenario, the company will
sustain debt to EBITDA comfortably below 5.0x, and the Abercrombie
brand repositioning efforts will show signs of being reasonably on
track.



ACORN ENERGY: Insufficient Cash Flow Raises Going Concern Doubt
---------------------------------------------------------------
Acorn Energy, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q, disclosing a net
income of $590,000 on $942,000 of revenue for the three months
ended September 30, 2016, compared to a net loss of $2.63 million
on $4.40 million of revenue for the same period in 2015.

For the nine months ended September 30, 2016, the Company recorded
a net loss of $93,000 on $7.62 million of revenue, compared to a
net loss of $8.74 million on $12.22 million of revenue for the same
period last year.

The Company's balance sheet at September 30, 2016, showed total
assets of $8.60 million, total liabilities of $6.51 million, and a
stockholders' equity of $2.09 million.

As of September 30, 2016, the Company had negative working capital
of $2.7 million (negative $2.0 million in its continuing
operations).  The Company's negative working capital includes
$104,000 of cash and cash equivalents as well as $2.0 million of
deferred revenue in OmniMetrix.  Such deferred revenue does not
require significant cash outlay in order for the revenue to be
recognized.  Net cash decreased during the nine months ended
September 30, 2016 by $20,000.  During the nine months ended
September 30, 2016, $3.9 million of cash was used in operating
activities ($3.0 million in continuing operations).

The Company currently does not have sufficient cash flow for the
next twelve months.  On September 30, 2016, the Company had
approximately $40,000 of non-escrow corporate cash and cash
equivalents and approximately $230,000 on October 31, 2016,
following the $300,000 of cash transfers from GridSense in October
2016.

Additional liquidity will be necessary to finance the operating
activities of Acorn and the operations of its OmniMetrix
subsidiary, and the Company will continue to pursue sources of
funding, which may include loans from related and/or non-related
parties, a sale or partial sale of one or more of its businesses,
finding a strategic partner or equity financings.  There can be no
assurance additional funding will be available at terms acceptable
to the Company or that it will be able to successfully utilize any
of these possible sources to provide additional liquidity.  If
additional funding is not available in sufficient amounts, the
company will not be able to fund its corporate activities during
the next twelve months, which could materially impact its ability
to continue operations, and may not be able to fund OmniMetrix as
the Company had historically, which could materially impact its
carrying value.  As such, these factors raise substantial doubt as
to Acorn's ability to continue as a going concern.

A full-text copy of the Company's Form 10-Q is available at:
                
                   https://is.gd/dGh1Ka

Acorn Energy, Inc., is a holding company focused on technology
driven solutions for energy infrastructure asset management.  It
currently operates in two reportable operating segments, both of
which are performed though its OmniMetrix subsidiary namely Power
Generation ("PG") and Corrosion Protection ("CP").  The PG segment
provides wireless remote monitoring and control systems and
services for critical assets as well as Internet of Things
applications.  The CP segment provides for remote monitoring of
cathodic protection systems on gas pipelines for gas utilities and
pipeline companies.




AEROJET ROCKETDYNE: S&P Raises CCR to 'B+'; Outlook Positive
------------------------------------------------------------
S&P Global Ratings said that it raised its corporate credit rating
on Aerojet Rocketdyne Holdings Inc. to 'B+' from 'B' and revised
the outlook on the corporate credit rating to positive from
stable.

At the same time S&P raised the issue level rating on the
subordinated notes to 'B-' from 'CCC+', while maintaining the
recovery rating at '6'.

The upgrade reflects Aerojet's credit metrics improving much faster
than S&P expected due to improving margins and lower debt after
refinancing earlier in 2016.  S&P now expects FFO to debt to be
22%-28% and debt to EBITDA to be 2.7x- 3.2x in 2016, compared with
S&P's previous expectations of FFO to debt around 15% and debt to
EBITDA 4.3x-4.8x.  They are levels that will exceed S&P's upgrade
triggers.  Adjusted debt levels have declined over $120 million
since the end of fiscal 2015, as the company used excess cash to
pay down debt and $43 million of convertible notes were converted
into equity.  S&P expects credit ratios to continue to improve in
2017 with modest revenue and earnings growth and further debt
repayment.

Despite its recent success in improving earnings, S&P believes the
loss of certain contracts in 2015 and changing market dynamics have
increased uncertainty about the company's long term earnings
potential and competitive position.  Last year, United Launch
Alliance (ULA) selected Orbital ATK to replace Aerojet as its
supplier of solid rocket boosters on the Atlas V (and the Vulcan
rocket that ULA is developing to replace the Atlas) starting in
2019.  This was a major program for Aerojet, accounting for about
7% of overall revenues.  In addition, Orbital ATK terminated a
contract with Aerojet to supply its AJ-26 engines, which were used
on Orbital's Antares rocket, following a 2014 launch failure. While
this program only accounted for a small portion of Aerojet's total
sales, S&P believes that it represents lost future opportunities
for the company.

On top of these lost contracts, shifting industry dynamics have
made the company's markets more competitive.  Orbital Sciences, one
of Aerojet's customers, merged with Alliant TechSystems, one of
Aerojet's competitors, in 2015, which has made it more difficult
for Aerojet to win future solid-propellant engine work with
Orbital.  SpaceX is also an emerging competitor that makes entire
rocket systems, including engines, and the company is pushing to
secure the contracts to launch military satellites currently
dominated by ULA.

In February 2016, Aerojet won a U.S. Air Force contract for
development of the AR1 rocket engine to replace the Russian RD-180
for the Atlas V.  This project entails a total investment of
$804 million, with $536 million provided by the Air Force and
$268 million provided by Aerojet and its partners (primarily ULA).
The development is likely to be completed by the end of 2019.  If
the company wins the down-select next year over Blue Origin, a
privately funded start up, production revenues will begin in 2020.
Winning this program would largely offset the loss of the Atlas V
boosters and provide some long-term revenue visibility.

The company's three other key programs include two missile programs
(THAAD and Standard Missile) and NASA's Space Launch System (SLS),
being developed to launch humans into deep space. Missile programs
are seeing high demand from the U.S. and international governments,
while the SLS remains a high priority for NASA, though it could be
a target for future spending cuts given its large size.  Beyond
that, Aerojet's program diversity is fairly good.

S&P's base case forecast assumes:

   -- Low-single-digit percent revenue growth each of the next two

      years driven by missile programs and new business wins;

   -- EBITDA margins improving to 14%-15% over the forecast period

      due to the cost reduction plan being implemented and
      improving operating efficiency on existing programs;

   -- No share repurchases or dividends over the next two years
      and no planned mergers and acquisitions activity;

   -- Modest debt reduction; and

   -- No real estate sales through 2017.

This results in these key credit metrics:

   -- Debt to EBITDA of 2.7x-3.2x in 2016 and 2.2x-2.7x in 2017;
      and

    -- FFO to debt of about 25%-30% through 2017.

S&P assess Aerojet's liquidity as adequate.  S&P expects liquidity
sources to be at least 1.2x uses over the next 12 months.  In
addition, S&P believes that sources would exceed uses even if
EBITDA were to decline by 15%.  Aerojet has substantial real estate
holdings that could bolster liquidity if sold, although the timing
and amount is difficult to predict.  S&P also expects the company
to maintain adequate cushion in the covenants in its credit
facility for the foreseeable future.

Principal liquidity sources:

   -- Cash of $129 million as of Sept. 30, 2016;

   -- $205 million of availability under the $350 million
      revolver; and

   -- Cash from operations of $50 million-$60 million in the next
      12 months.

Principal liquidity uses:

   -- Capital spending of $30 million-$40 million; and

   -- $20 million per year amortization on the term loan.

The positive outlook reflects S&P's expectation that credit metrics
will continue to improve modestly over the next 12 months, with FFO
to debt of 25%-30% and debt to EBITDA below 3x.  It also reflects
this possibility that new business wins and growth on other
programs could improve the company's long-term competitive
position.

S&P could raise the rating if new business wins and growth on key
programs improve the company's long-term competitive position,
while it maintains at least the current level of credit ratios,
including FFO to debt above 25%.  S&P could also raise the rating
if margin improvement resulting from cost reduction efforts and
further debt reduction results in FFO to debt staying above 30%.

S&P could revise the outlook to stable if the company is not able
to win key new programs, such as a production contract for the AR1
engine currently in development, or loses any major existing
programs, such that S&P believes its long-term competitive position
remains in question.  S&P could also revise the outlook back to
stable if credit metrics deteriorate due to operating problems or
higher debt-to-fund acquisitions, including FFO to debt declining
back to around 20%.



AIR SUB CORP: Unsecureds to Get 60 Monthly Payments of $807
-----------------------------------------------------------
Air Sub Corp, filed with the U.S. Bankruptcy Court for the District
of Puerto Rico a plan of reorganization and an accompanying small
business disclosure statement, which places claims and equity
interests in various classes.

Banco Popular de Puerto Rico will get 48 monthly payments of
$7,431.41 each until year 2020, amounting to a total payout of
$356,708.00.

The General Unsecured Class will get 60 monthly payments of $807.12
each until year 2021, amounting to a total payout of $48,427.00.

Payments and distributions under the Plan will be funded by the
regular course of business operations through the monthly income.

A full-text copy of the Disclosure Statement is available at:

         http://bankrupt.com/misc/prb16-01709-11-99.pdf

The Debtors are represented by:

Nilda M. Gonzalez-Cordero
USDC # 213705
PO Box 3389
Guaynabo, PR 00970
Tel. (787) 721-3437 / (787) 724-2480
E-mail address: ngonzalezc@ngclawpr.com

            About Air Sub Corp

Air Sub Corp filed for Chapter 11 bankruptcy protection (Bankr.
D.P.R. Case No. 16-01709) on March 2, 2016, estimating its assets
at up to $50,000 and liabilities at between  $500,001 and $1
million.  Nilda M. Gonzalez Cordero, Esq., at Gonzalez Cordero Law
Offices serves as the Debtor's bankruptcy counsel.

N & N Sub Corp. Filed for Chapter 11 bankruptcy protection (Bankr.
D.P.R. Case No. 16-02596) on April 1, 2016, estimating its assets
at up to $50,000 and its liabilities at between $100,001 and
$500,000.  

Subway Senorial Parana Corp. filed for Chapter 11 bankruptcy
protection (Bankr. D.P.R. Case No. 16-02597) on April 1, 2016,
estimating its assets at up to $50,000 and its liabilities at
between $100,001 and $500,000.

Nilda M. Gonzalez Cordero, Esq., at Gonzalez Cordero Law Offices
serves as the Debtors' bankruptcy counsel.


ALESSI FAMILY: Taps Behar Gutt as Bankruptcy Attorney
-----------------------------------------------------
The Alessi Family Limited Partnership seeks authorization from the
U.S. Bankruptcy Court for the Southern District of Florida to
employ Brian S. Behar of Behar, Gutt & Glazer, P.A. as attorney.

The Debtor requires Behar Gutt to:

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

   (b) advise the Debtor with respect to its responsibilities in
       complying with the U.S. Trustee's Operating
       Guidelines and Reporting Requirements and with the rules
       of the Court;

   (c) prepare motions, pleadings, orders, applications, adversary

       proceedings, and other legal documents necessary in the
       administration of the case; and

   (d) protect the interests of the Debtor with its creditors in
       the preparation of a Plan.

Behar Gutt will be paid at these hourly rates:

       Partners             $400
       Associates           $335

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

The Debtor will pay Behar Gutt an initial retainer of $25,000.

Brian S. Behar, member of Behar Gutt, assured the Court that the
firm is a "disinterested person" as the term is defined in Section
101(14) of the Bankruptcy Code and does not represent any interest
adverse to the Debtor and its estate.

Behar Gutt can be reached at:

       Brian S. Behar, Esq.
       BEHAR, GUTT & GLAZER, P.A.
       DCOTA, Suite A-350
       1855 Griffin Road
       Fort Lauderdale, FL 33004
       Tel: (305) 931-3771
       Fax: (305) 931-3774

           About The Alessi Family Limited Partnership

The Alessi Family Limited Partnership filed a chapter 11 petition
(Bankr. S.D. Fla. Case No. 16-25093) on November 9, 2016.  The
petition was signed by Daniel A. Alessi, general partner.  The
Debtor is represented by Brian S. Behar, Esq., at Behar, Gutt &
Glazer, P.A.  The case is assigned to Judge John K. Olson.  The
Debtor estimated assets and liabilities at $1 million to $10
million at the time of the filing.



ALGOZINE MASONRY: Hires O Allan Fridman as Counsel
--------------------------------------------------
Algozine Masonry Restoration, Inc. asks for authorization from the
U.S. Bankruptcy Court for the Northern District of Indiana to
employ O. Allan Fridman as counsel, nunc pro tunc to November 10,
2016.

The Debtor requires Mr. Fridman to:

   (a) prepare filings and conduct examinations incidental to the
       administration of a Chapter 11 case;

   (b) advice regarding its legal rights, duties, and obligations
       a debtor- in-possession;

   (c) perform legal services incidental and necessary to the day-

       to-day operations of its business, including but not
       limited to institution and prosecution of necessary legal
       matters and proceedings, loan restructuring, and general
       business and corporate legal advice and assistance, all of
       which are necessary to the proper preservation and
       administration of the estates;

   (d) negotiate, prepare, confirm and consummate asset sale and
       if appropriate a plan; and

   (e) take any and all other necessary action incident to the
       proper preservation and administration of the estate in the

       conduct of the Debtor’s business.

The standard hourly rates, charged by Mr. Fridman is $425.

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

Mr. Fridman assured the Court that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code and does not represent any interest adverse to the Debtor and
its estate.

The counsel can be reached at:

       O. Allan Fridman, Esq.
       555 Skokie Blvd. Suite 500  
       Northbrook, IL 60062
       Tel: (847) 412-0788
       E-mail: allan@fridlg.com

               About Algozine Masonry Restoration

Algozine Masonry Restoration, Inc., filed a chapter 11 petition
(Bankr. N.D. Ind. Case No. 16-23208) on Nov. 10, 2016.  The
petition was signed by David A. Algozine, vice president.  The
Debtor is represented by Allan O. Fridman, Esq., at the Law Office
of O. Allan Fridman.  The Debtor disclosed total assets at $217,951
and total liabilities at $3.11 million.


AMERICAN APPAREL: U.S. Trustee Forms 7-Member Committee
-------------------------------------------------------
Andrew R. Vara, Acting U.S. Trustee for Region 3, on Nov. 22
appointed three creditors of American Apparel Inc. to serve on the
official committee of unsecured creditors.

The committee members are:

     (1) Atalaya Asset Income Fund I LP
         Attn: Rana Mitra and Don Choi
         780 Third Avenue, 27th Floor
         New York, NY 10017
         Tel: (212) 527-8198
         Fax: (917) 464-7350   

     (2) E & C Fashion, Inc.
         Attn: Claudia Kye
         3600 E. Olympic Boulevard
         Los Angeles, CA 90023
         Tel: (323) 262-0099   

     (3) Simon Property Group
         Attn: Ronald M. Tucker
         225 W. Washington
         Indianapolis, IN 46204
         Tel: (317) 263-2346
         Fax: (317) 263-7901

     (4) Flintfox Consulting Group, Inc.
         Attn: Jeff Hayward
         5 Omega Street
         Auckland, North Shore 0632
         New Zealand
         Tel: +(649) 477-0888

     (5) Andari Fashion Inc.
         Attn: Wei Wang
         9626 Telstar Avenue
         El Monte, CA 91731
         Tel: (626) 5752759
         Fax: (626) 575-3629

     (6) Mediamath, Inc.
         Attn: Darren Bidishi
         4 World Trade Center, 45th Floor
         New York, NY 10003
         Tel: (646) 741-9982
         Fax: (866) 308-0230

     (7) Garden City Group, LLC
         Attn: Angela Ferrante/Scott Nader
         1985 Marcus Avenue, Suite 200
         Lake Success, New York 11042-1013
         Tel: (631) 470-1852

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

                  About American Apparel, LLC.

American Apparel Inc. is one of the largest apparel manufacturers
in North America, employing 4,700 employees across 3 active
manufacturing facilities, one distribution facility and
approximately 110 retail stores in the United States.  

American Apparel and its affiliates filed for chapter 11 protection
in October 2015, confirmed a fully consensual plan of
reorganization in January 2016, and substantially consummated that
plan on Feb. 5, 2016.  Unfortunately, the business turnaround plan
upon which the Debtors' plan of reorganization was premised
failed.

American Apparel LLC, along with five of its affiliates, again
sought bankruptcy protection (Bankr. D. Del. Lead Case No.
16-12551) on Nov. 14, 2016, with a deal to sell the assets.  The
petitions were signed by Bennett L. Nussbaum, chief financial
officer.

As of the bankruptcy filing, the Debtors estimated assets and
liabilities in the range of $100 million to $500 million each.  As
of the Petition Date, the Debtors had outstanding debt in the
aggregate principal amount of approximately $215 million under
their prepetition credit facility.  Additionally, the Debtors have
guaranteed one of its United Kingdom subsidiaries' obligations
under a $15 million unsecured note due Oct. 15, 2020, court
document shows.

The Debtors have hired Laura Davis Jones, Esq. and James E.
O'Neill, Esq., at Pachulski Stang Ziehl & Jones LLP as counsel;
Erin N. Brady, Esq., Scott J. Greenberg, Esq., and Michael J.
Cohen, Esq., at Jones Day as co-counsel; Berkeley Research Group,
LLC, as financial advisors; Houlihan Lokey as investment banker;
and Prime Clerk LLC, as claims and noticing agent.


AMERICAN EAGLE: Court Confirms Further Revised Liquidation Plan
---------------------------------------------------------------
BankruptcyData.com reported that the U.S. Bankruptcy Court issued
an order confirming American Eagle Energy's Further Revised Joint
Chapter 11 Plan of Liquidation.  As previously reported, "The
secured portion of the Senior Secured Notes Claim shall be paid in
Cash by the Liquidating Trustee from the Retained Cash (less
amounts required to pay the Claims set forth in Article II of this
Plan and the Unsecured Creditor Payment), proceeds of accounts
receivable, the Debtors' interest in proceeds from the Segregated
Causes of Action, and, subject to the provisions hereof, the Sale
Proceeds that are not payable to either Settling Well Lien
Claimants, USG, Halliburton, Jacam, Hydratek, Miller Oil, 4G,
G-Style, Calfrac, Cruz Energy, Precision, CMG, and Arctic Energy or
otherwise required to be reserved pursuant to this Plan. On the
Effective Date, in full and final satisfaction of each of their
respective Well Lien Claims, the Class 2(b) Well Lien Claimants
shall each receive a payment from the Sales Proceeds equal to 36.6%
of the Allowed amount of their respective Well Lien Claim, and
shall be forever released by the Debtors and their bankruptcy
estates from any and all claims, actions, causes of action and
liabilities that were asserted or may have been asserted in the
Chapter 11 Cases.  The Well Lien Claim of Schlumberger shall be
Allowed in the amount of $209,246. On the Effective Date, in full
and final satisfaction of its Well Lien Claim, Schlumberger shall
receive a payment of $73,236.10 from the Sales Proceeds."  This oil
and gas developer filed for Chapter 11 protection on May 8, 2015,
listing $271 million in pre-petition assets.

               About American Eagle Energy Corp.

Littleton, Colorado-based American Eagle Energy Corporation is
engaged in the acquisition, exploration and development of oil and
gas properties.  The Company is primarily focused on extracting
proved oil reserves from those properties.

American Eagle Energy Corporation and its wholly-owned subsidiary,
AMZG, Inc., filed on May 8, 2015, voluntary petitions (Bankr. D.
Colo. Case No. 15-15073).  The case is assigned to Judge Howard R.
Tallman.  The Debtors are represented by Elizabeth A. Green, Esq.,
at Baker & Hostetler LLP, in Orlando, Florida.

On May 13, 2015, Judge Tallman granted the Debtors' request for
joint administration.

American Eagle Energy disclosed total assets of $21,980,687 and
total liabilities of $193,604,113 as of the Chapter 11 filing.

The U.S. Trustee for Region 6 appointed seven creditors to serve on
the Official Committee of Unsecured Creditor.  The Committee tapped
Pachulski Stang Ziehl & Jones LLP as counsel, and Conway Mackenzie
as financial advisor.

Counsel for the Ad Hoc Noteholder Group:

     Paul N. Silverstein, Esq.
     ANDREWS KURTH KENYON LLP
     450 Lexington Avenue
     New York, New York 10017
     Tel: (212) 850-2800
     Fax: (212) 850-2929

          -- and --

     Timothy A. ("Tad") Davidson II, Esq.
     ANDREWS KURTH KENYON LLP
     600 Travis Street, Suite 4200
     Houston, TX 77002
     Tel: (713) 220-4200
     Fax: (713) 220-4285


AMERICAN HOUSING: Recurring Losses Raise Going Concern Doubt
------------------------------------------------------------
American Housing Income Trust, Inc., filed with the U.S. Securities
and Exchange Commission its quarterly report on Form 10-Q,
disclosing a net loss of $1.55 million on $175,695 of total revenue
for the three months ended September 30, 2016, compared to a net
loss of $1.12 million on $133,444 of total revenue for the same
period in 2015.

For the nine months ended September 30, 2016, the Company recorded
a net loss of $4.29 million on $503,210 of total revenue, compared
to a net loss of $2.29 million on $327,190 of total revenue for the
same period last year.

The Company's balance sheet at September 30, 2016, showed total
assets of $12.05 million, total liabilities of $6.01 million, and a
stockholders' equity of $6.04 million.

The Company has never paid any dividends and is unlikely to pay
dividends 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 financing to continue operations, and
the attainment of profitable operations.  During the nine months
ended September 30, 2016, the Company incurred a net loss of
$4,290,611, and as at September 30, 2016, the Company has
accumulated losses of $12,285,258 since inception.  These factors
raise substantial doubt regarding the Company's ability to continue
as a going concern.

A full-text copy of the Company's Form 10-Q is available at:
                
                   https://is.gd/ve6ntI

American Housing Income Trust, Inc., is in the business of
acquiring and operating residential properties.  The Company
currently holds title to 54 residential properties and 1 commercial
property.




ANGELO PERRY THROWER: Unsecureds to be Paid $500 Monthly for 60 Mos
-------------------------------------------------------------------
Angelo Perry Thrower filed with the U.S. Bankruptcy Court for the
Southern District of Florida an amended plan of reorganization and
accompanying disclosure statement.

Class 2, consisting of Allowed Unsecured Claims, totaled
$2,053,304.  The Debtor will pay unsecured creditors $500.00 a
month for sixty months to be distributed pro rata.

With respect to its claims of a kind specified in section
507(a)(8), the Internal Revenue Service will receive regular
monthly installment payments with statutory interest commencing on
the Effective Date.

Payment to all creditors will be made from Debtor’s wages.

A full-text copy of the amended Disclosure Statement is available
at:

       http://bankrupt.com/misc/fslb16-10243-38.pdf

The Debtor is represented by:

     Susan D. Lasky, PA
     915 Middle River Dr., Suite 420
     Ft Lauderdale, FL 33304
     Fax: 954-400-7474/954-206-0628
     Email: Sue@SueLasky.com

              About Angelo Thrower

Angelo Perry Thrower is a medical doctor specializing in
dermatology. He is the owner of Angelo P. Thrower, M.D., P.A.,
which is a personal service corporation, and Heritage Skincare,
Inc., which is a corporation formed to develop, market and sell
skin care products.

The Debtor filed for Chapter 11 bankruptcy protection (Bankr. S.D.
Fla. Case No. 16-10243) on Jan. 7, 2015.



ARUBA PETROLEUM: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Aruba Petroleum, Inc.
        555 Republic Drive, Suite 505
        Plano, TX 75074

Case No.: 16-42121

Chapter 11 Petition Date: November 22, 2016

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

Debtor's Counsel: Eric A. Liepins, Esq.
                  ERIC A. LIEPINS P.C.
                  12770 Coit Road, Suite 1100
                  Dallas, TX 75251
                  Tel: (972) 991-5591
                  E-mail: eric@ealpc.com

Total Assets: $0

Total Liabilities: $4.67 million

The petition was signed by James Poston, president.

A copy of the Debtor's list of 20 largest unsecured creditors is
available for free at http://bankrupt.com/misc/txeb16-42121.pdf


ASCENT SOLAR: Current Capital Requirements Cast Going Concern Doubt
-------------------------------------------------------------------
Ascent Solar Technologies, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, disclosing a
net loss of $11.78 million on $452,674 of revenues for the three
months ended September 30, 2016, compared to a net loss of $6.11
million on $1.25 million of revenues for the same period in 2015.

For the nine months ended September 30, 2016, the Company recorded
a net loss of $33.48 million on $1.42 million of revenues, compared
to a net loss of $35.24 million on $4.14 million of revenues for
the same period last year.

The Company's balance sheet at September 30, 2016, showed total
assets of $12.38 million, total liabilities of $25.19 million, and
a stockholders' deficit of $12.81 million.

The Company has continued PV production at its manufacturing
facility.  The Company does not expect that sales revenue and cash
flows will be sufficient to support operations and cash
requirements until it has fully implemented its consumer products
strategy.  During the nine months ended September 30, 2016, the
Company used $13.6 million in cash for operations.  The Company's
primary significant long term cash obligation consists of a note
payable of $5.6 million to a financial institution secured by a
mortgage on its headquarters and manufacturing building in
Thornton, Colorado.  Total payments of $0.3 million, including
principal and interest, will come due in the remainder of 2016.
The Company owe $0.5 million as of September 30, 2016 related to a
litigation settlement reached in April 2014, which is being paid in
equal installments over 40 months, which began in April 2014.
  
Additional projected product revenues are not anticipated to result
in a positive cash flow position for the year 2016 overall and as
of September 30, 2016 the Company had negative working capital.  As
such, cash liquidity sufficient for the year ending December 31,
2016 will require additional financing.  Subsequent to September
30, 2016, the Company entered into securities purchase agreements
totaling $1.3 million of additional funding.

The Company has continued to accelerate sales and marketing efforts
related to its consumer and military solar products and specialty
PV application strategies through expansion of its sales and
distribution channels.  The company has begun activities related to
securing additional financing through strategic or financial
investors, but there is no assurance it will be able to raise
additional capital on acceptable terms or at all.  If its revenues
do not increase rapidly, and/or additional financing is not
obtained, the Company will be required to significantly curtail
operations to reduce costs and/or sell assets.  Such actions would
likely have an adverse impact on its future operations. As a result
of the Company's recurring losses from operations, and the need for
additional financing to fund its operating and capital
requirements, there is uncertainty regarding the Company's ability
to maintain liquidity sufficient to operate its business
effectively, which raises substantial doubt as to the Company's
ability to continue as a going concern.

A full-text copy of the Company's Form 10-Q is available at:
                
                   https://is.gd/Q7IogU

Ascent Solar Technologies, Inc., is producing consumer and military
oriented portable solar charger and battery products focusing on
powering mobile devices, outdoor and military equipment, as well as
electronics for emergency preparedness purposes.  Products in these
markets are priced based on the overall product value proposition
rather than a conventional commodity-style pricing like most solar
panels on a per watt basis.  The Company continues to develop new
consumer products and has adjusted utilization of its equipment to
meet near term sales forecasts.  Additionally, the Company also
produces ultra-lightweight solar modules for specialty
applications, such as space and near-space, fixed-wing UAV's and
drone integration and other off-grid applications.




BASIC ENERGY: Court Approves Key Employee Retention Plan
--------------------------------------------------------
BankruptcyData.com reported that the U.S. Bankruptcy Court issued
an order approving Basic Energy Services' key employee retention
program (KERP).  As previously reported, "For the KERP to achieve
an appropriate offset of the reduced compensation available to
employees under the Prepetition Incentive Programs (as well as the
Compensation Reductions), the Debtors created two subsets of KERP
Participants: (i) 116 employees who would only be eligible for the
Quarterly Bonus Program (the 'Non-LTIP KERP Participants') and (ii)
twenty (21) employees who would be eligible to receive bonuses
under the Annual Bonus Plan, the Quarterly Bonus Program, and the
LTIP (the 'LTIP KERP Participants').  The LTIP KERP Participants'
Retention Award is made up of two components designed to offset a
portion of the reduction in payments under both the Quarterly Bonus
Program/Annual Bonus Plan and the LTIP: (x) one component is 75% of
an amount that is 40-75% of such employees' base salaries and (y)
the second component is an amount equal to 50% of an amount that is
75-150% of such employees' base salaries. The Retention Awards of
two-thirds of the LTIP KERP Participants were further reduced by
another 5% to 65%. Payments under the KERP are divided into four
(4) equal installment payments (the 'KERP Installment Payments').
The total maximum amount of Retention Awards available under the
KERP is $6,603,985, of which $3,287,617 has been distributed as of
the date hereof (June 2016).  On November 15, 2016, the Debtors are
scheduled to pay out $1,374,553 in Retention Awards to KERP
Participants.  The maximum cost of the KERP is approximately $6.633
million, yielding an average payout of $48,800 per KERP
Participant."

              About Basic Energy Services

Forth Worth, Texas-based Basic Energy Services, Inc. (NYSE: BAS)
-- http://www.basicenergyservices.com/Â-- provides well site

services to more than 2,000 land-based oil and natural gas
producing companies throughout the United States.

Basic Energy Services, Inc. and 27 affiliated companies filed
Chapter 11 bankruptcy petitions (Bankr. D. Del. Lead Case No.
16-12320) on Oct. 25, 2016.

The cases have been assigned to Judge Kevin J. Carey. The Debtors
have filed a fully consensual Joint Prepackaged Chapter 11 Plan
and Disclosure Statement and began soliciting votes to accept or
reject such Prepackaged Plan and Disclosure Statement before the
Petition Date. The Debtors are seeking Court approval of the
Disclosure Statement and Prepackaged Plan on Dec. 7, 2016.

The Debtors have hired Richards, Layton & Finger, P.A. as Delaware
counsel; Weil Gotshal, as bankruptcy co-counsel; AP Services, LLC,
as crisis managers and to provide the Debtors with a Chief
Restructuring Officer and certain other officers and personnel;
Moelis and Company, as investment banker; Andrews Kurth Kenyon LLP,
as corporate counsel; and Epiq Bankruptcy Solutions, LLC, as
administrative advisor.

Counsel to the Prepetition Term Loan Lenders and certain of the
DIP Lenders in the Chapter 11 cases of Basic Energy Services, Inc.,
et al. are Davis Polk & Wardwell LLP's Marshall S. Huebner, Esq.,
and Darren S. Klein, Esq.; and Jeremy W. Ryan, Esq., at Potter
Anderson & Corroon LLP.

Counsel to U.S. Bank National Association, as Prepetition Term
Loan Agent and acting as administrative agent and collateral agent,
are Theodore Sica, Esq., and Nicholas B. Vislocky, Esq., at
Lowenstein Sandler LLP. A consortium of lenders led by U.S. Bank is
extending a superpriority secured multiple delayed-draw term loan
facility to the Debtors in an aggregate principal amount of $90
million.

Counsel to Bank of America, N.A., in its capacity as the
Prepetition ABL Agent are James A. Markus, Esq., and Paul E.
Heath, Esq., at Vinson & Elkins LLP; and Morris, Nichols, Arsht &
Tunnell LLP's Robert J. Dehney, Esq. and Eric D. Schwartz, Esq.

An ad hoc group of holders that own or manage with the authority
to act on behalf of the beneficial owners of the Company's 2019
Senior Notes and the 2022 Senior Notes, consists of:

     -- Ascribe Capital LLC,
     -- Brigade Capital Management, L.P.,  
     -- Silver Point Capital, L.P., and
     -- other entities that may join such ad hoc group from
        time to time.

Counsel to the Ad Hoc Group are Fried, Frank, Harris, Shriver &
Jacobson LLP's Brad Eric Scheler, Esq., and Peter Siroka, Esq.;
and Michael D. DeBaecke, Esq., at Blank Rome LLP.


BASIC ENERGY: NYSE Accepts Plan for Continued Listing
-----------------------------------------------------
Basic Energy Services, Inc. (NYSE: BAS) said the New York Stock
Exchange (NYSE) has accepted the Company's plan for continued
listing on the NYSE. As a result, Basic's common stock will
continue to be listed on the NYSE, subject to quarterly reviews by
the NYSE to monitor the Company's progress against the plan to
restore compliance with continued listing standards.

The NYSE had notified Basic on August 19, 2016 of non-compliance
(the NYSE Notice) with the market capitalization and share price
continued listing standards under Sections 802.01B and 802.01C of
the NYSE Listed Company Manual.

Basic has a period of six months from the date of the NYSE Notice
to regain compliance with the minimum share price criteria by
bringing its share price and thirty trading-day average share price
above $1.00.  Basic has also a period of 18 months from the date of
the NYSE Notice to regain compliance with the market capitalization
requirements of the NYSE listing standards.  Should the Company's
average global market capitalization over a consecutive 30
trading-day period fall below $15 million, the NYSE will promptly
initiate suspension and delisting procedures.

                About Basic Energy Services

North Worth, Texas-based Basic Energy Services, Inc. (NYSE: BAS)
-- http://www.basicenergyservices.com/-- provides well site  
services to more than 2,000 land-based oil and natural gas
producing companies throughout the United States.

Basic Energy Services, Inc. and 27 affiliated companies filed
Chapter 11 bankruptcy petitions (Bankr. D. Del. Lead Case No.
16-12320) on Oct. 25, 2016.

The cases have been assigned to Judge Kevin J. Carey. The Debtors
have filed a fully consensual Joint Prepackaged Chapter 11 Plan
and Disclosure Statement and began soliciting votes to accept or
reject such Prepackaged Plan and Disclosure Statement before the
Petition Date.  The Debtors are seeking Court approval of the
Disclosure Statement and Prepackaged Plan on Dec. 7, 2016.

The Debtors have hired Richards, Layton & Finger, P.A. as Delaware
counsel; Weil Gotshal, as bankruptcy co-counsel; AP Services, LLC,
as crisis managers and to provide the Debtors with a Chief
Restructuring Officer and certain other officers and personnel;
Moelis and Company, as investment banker; Andrews Kurth Kenyon
LLP, as corporate counsel; and Epiq Bankruptcy Solutions, LLC,
as administrative advisor.

Counsel to the Prepetition Term Loan Lenders and certain of the
DIP Lenders in the Chapter 11 cases of Basic Energy Services,
Inc., et al. are Davis Polk & Wardwell LLP's Marshall S. Huebner,
Esq., and Darren S. Klein, Esq.; and Jeremy W. Ryan, Esq., at
Potter Anderson & Corroon LLP.

Counsel to U.S. Bank National Association, as Prepetition Term
Loan Agent and acting as administrative agent and collateral
agent, are Theodore Sica, Esq., and Nicholas B. Vislocky, Esq.,
at Lowenstein Sandler LLP. A consortium of lenders led by U.S.
Bank is extending a superpriority secured multiple delayed-draw
term loan facility to the Debtors in an aggregate principal
amount of $90 million.

Counsel to Bank of America, N.A., in its capacity as the
Prepetition ABL Agent are James A. Markus, Esq., and Paul E.
Heath, Esq., at Vinson & Elkins LLP; and Morris, Nichols,
Arsht & Tunnell LLP's Robert J. Dehney, Esq. and Eric D. Schwartz,
Esq.

An ad hoc group of holders that own or manage with the authority
to act on behalf of the beneficial owners of the Company's 2019
Senior Notes and the 2022 Senior Notes, consists of:

     -- Ascribe Capital LLC,
     -- Brigade Capital Management, L.P.,  
     -- Silver Point Capital, L.P., and
     -- other entities that may join such ad hoc group from
        time to time.

Counsel to the Ad Hoc Group are Fried, Frank, Harris, Shriver &
Jacobson LLP's Brad Eric Scheler, Esq., and Peter Siroka, Esq.;
and Michael D. DeBaecke, Esq., at Blank Rome LLP.


BASIC ENERGY: Posts $92.1 Million Net Loss for Sept. 30 Quarter
---------------------------------------------------------------
Basic Energy Services, Inc., said net loss narrowed to $92,097,000
for the quarter ended Sept. 30, 2016, compared to a net loss of
$105,642,000 for the same period in 2015.

For the first three quarters of the year, Basic Energy incurred net
loss of $265,319,000 compared to net loss of $186,561,000 for the
same nine-month period in 2015.  The Company incurred a net loss of
$241.7 million for the year ended Dec. 31, 2015.

Revenues from completion and remedial services, fluid services,
well servicing and contract drilling totaled $141,610,000 for the
quarter, slightly down from revenues of $189,247,000 for the same
period a year ago.  Total revenues were $391,970,000 for the first
nine months of the year compared to $644,564,000 for the same
period in 2015.

At Sept. 30, 2016, total assets were $1,003,048,000 against total
current liabilities of $1,086,528,000 and stockholders deficit of
$152,266,000.

The Company disclosed that it expects its primary sources of
liquidity will be from cash on hand, cash from operations and,
until emergence from Chapter 11, financing under the DIP Facility.
The Company's secured term lenders and certain of its noteholders
have committed to provide up to $90.0 million under the DIP
Facility, of which, the Company received $30.0 million on October
26, 2016.

The Company said it is in active discussions with potential lenders
to find a replacement for the prepetition $100.0 million
asset-based revolving credit facility.

A copy of the Company's quarterly report on Form 10-Q filed with
the Securities and Exchange Commission is available at
https://is.gd/FT7sKF

           About Basic Energy Services

North Worth, Texas-based Basic Energy Services, Inc. (NYSE: BAS)
-- http://www.basicenergyservices.com/-- provides well site  
services to more than 2,000 land-based oil and natural gas
producing companies throughout the United States.

Basic Energy Services, Inc. and 27 affiliated companies filed
Chapter 11 bankruptcy petitions (Bankr. D. Del. Lead Case No.
16-12320) on Oct. 25, 2016.

The cases have been assigned to Judge Kevin J. Carey. The Debtors
have filed a fully consensual Joint Prepackaged Chapter 11 Plan
and Disclosure Statement and began soliciting votes to accept or
reject such Prepackaged Plan and Disclosure Statement before the
Petition Date.  The Debtors are seeking Court approval of the
Disclosure Statement and Prepackaged Plan on Dec. 7, 2016.

The Debtors have hired Richards, Layton & Finger, P.A. as Delaware
counsel; Weil Gotshal, as bankruptcy co-counsel; AP Services, LLC,
as crisis managers and to provide the Debtors with a Chief
Restructuring Officer and certain other officers and personnel;
Moelis and Company, as investment banker; Andrews Kurth Kenyon
LLP, as corporate counsel; and Epiq Bankruptcy Solutions, LLC,
as administrative advisor.

Counsel to the Prepetition Term Loan Lenders and certain of the
DIP Lenders in the Chapter 11 cases of Basic Energy Services,
Inc., et al. are Davis Polk & Wardwell LLP's Marshall S. Huebner,
Esq., and Darren S. Klein, Esq.; and Jeremy W. Ryan, Esq., at
Potter Anderson & Corroon LLP.

Counsel to U.S. Bank National Association, as Prepetition Term
Loan Agent and acting as administrative agent and collateral
agent, are Theodore Sica, Esq., and Nicholas B. Vislocky, Esq.,
at Lowenstein Sandler LLP. A consortium of lenders led by U.S.
Bank is extending a superpriority secured multiple delayed-draw
term loan facility to the Debtors in an aggregate principal
amount of $90 million.

Counsel to Bank of America, N.A., in its capacity as the
Prepetition ABL Agent are James A. Markus, Esq., and Paul E.
Heath, Esq., at Vinson & Elkins LLP; and Morris, Nichols,
Arsht & Tunnell LLP's Robert J. Dehney, Esq. and Eric D. Schwartz,
Esq.

An ad hoc group of holders that own or manage with the authority
to act on behalf of the beneficial owners of the Company's 2019
Senior Notes and the 2022 Senior Notes, consists of:

     -- Ascribe Capital LLC,
     -- Brigade Capital Management, L.P.,  
     -- Silver Point Capital, L.P., and
     -- other entities that may join such ad hoc group from
        time to time.

Counsel to the Ad Hoc Group are Fried, Frank, Harris, Shriver &
Jacobson LLP's Brad Eric Scheler, Esq., and Peter Siroka, Esq.;
and Michael D. DeBaecke, Esq., at Blank Rome LLP.


BASS PRO: Moody's Assigns 'B1' Rating to New $400MM Term Loan-A
---------------------------------------------------------------
Moody's Investors Service assigned a B1 rating to Bass Pro Group,
L.L.C.'s proposed $400 million Senior Secured Term Loan-A. The
addition of the Term Loan-A will be leverage neutral as it will
result in a dollar-for-dollar reduction in the size of the
company's proposed Term Loan-B, to $2.97 billion from $3.37
billion.

The company's existing ratings are unchanged, including its Ba3
Corporate Family Rating, Ba3-PD Probability of Default Rating, and
B1 ratings on its proposed 7-year $2.97 billion Senior Secured Term
Loan-B and $500 million 1.5-year Senior Secured Asset Sale Term
Loan. The ratings outlook is positive.

Bass Pro intends to use the proceeds from the proposed term loans
to partially fund the acquisition of Cabela's Incorporated
("Cabela's," not rated by Moody's), refinance Bass Pro and Cabela's
debt and pay related fees and expenses. Additional funding will
come from $500 million of borrowing under a new $1.2 billion
Asset-Based revolver ("ABL"), a $75 million ABL FILO tranche,
proceeds from the sale of certain Cabela's World's Foremost Bank
("WFB") assets, and around $2.4 billion of preferred equity. The
company intends to repay the $500 million 1.5-year Senior Secured
Asset Sale Term Loan using proceeds from a sale/leaseback
transaction that is expected to close near the time of
acquisition.

The following rating is assigned:

   -- $400 million 5-year Senior Secured Term Loan-A assigned at
      B1 (LGD4)

RATINGS RATIONALE

Bass Pro's Ba3 Corporate Family Rating reflects the company's well
recognized brand name in the outdoor recreational products market,
the relatively stable overall demand characteristics of this
market, very broad product offering, and demonstrated ability to
profitably grow its asset base. Bass Pro's revenue, EBITDA, and
EBITDA margins have grown steadily over the past few years a result
of positive same store sales, modest store expansion, and a
successful shift in sales towards higher margin proprietary
products. The company also benefited from significant cost
reductions in its marine business. The rating also considers Bass
Pro's aggressive financial policy which drives high debt leverage.
The proposed acquisition of Cabela's is Bass Pro's largest to date,
bringing significant integration risks while occurring on the heels
of the February 10, 2015 debt-financed acquisition of Ranger boats
and subsequent $300 million debt financed dividend. The rating also
considers the discretionary nature of many products, particularly
boats, which have highly cyclical demand and accounts for nearly
20% of Bass Pro's standalone consolidated revenue.

The B1 rating assigned to Bass Pro's proposed Secured Term Loans
are one notch lower than the Ba3 Corporate Family Rating,
reflecting the high portion of company assets that will be pledged
to other lenders, including the asset-based credit facility,
floorplan financing for its retail boat inventory, and various
other mortgage and capital lease obligations. This weakens the
proposed term loans' recovery prospects relative to this
significant amount of secured debt. The term loans will be secured,
on an equal basis, by a first priority lien on substantially all
assets of the company except cash, accounts receivable and
inventory, on which they will have a second lien behind the ABL
revolver. The revolver and term loans are guaranteed by each direct
or indirect material domestic subsidiary as well as Bass Pro's
direct parent company.

Bass Pro's liquidity is good, based on Moody's expectation that
balance sheet cash, operating cash flow and excess revolver
availability will be sufficient to cover cash flow needs over the
next 12-18 months. Moody's also expects the company will repay the
$500 million 1.5-year Asset Sale Term Loan well ahead of maturity,
using proceeds from a proposed sale/leaseback transaction.
Additional liquidity will be provided by the proposed $1.2 billion
ABL that, despite $500 million used to help fund the acquisition,
is expected to maintain ample excess availability over the next
twelve months. The newly-proposed Secured term Loan-A will include
a maximum net leverage financial covenant that will contractually
tighten over time. Moody's expects the company to maintain
compliance with this covenant with ample cushion.

The positive rating outlook reflects the potential for significant
profit growth through synergy realization and loyalty program
profit sharing, along with Moody's expectation that the company
will generate strong, positive free cash flow to reduce debt and
leverage. The outlook also assumes that the company maintains good
liquidity and successfully executes on a proposed sale/leaseback
transaction to extend its maturity profile.

Ratings could be upgraded if Bass Pro achieves expected growth and
synergy realization, generates consistent positive free cash flow
and debt reduction, and demonstrates the ability and willingness to
achieve and maintain debt/EBITDA near 4.5 times at all times. An
upgrade would also require the maintenance of good liquidity.

Ratings could be downgraded if operating performance materially
deteriorates, challenges arise with regards to Cabela's
integration, or if financial policies became more aggressive,
leading to debt/EBITDA rising above 5.5 times on a sustained basis.
Failure to maintain good liquidity via the repayment or refinancing
the proposed $500 million 1.5-year Senior Secured Asset Sale Term
Loan well ahead of maturity could also lead to downward ratings
pressure.

Headquartered in Springfield, Missouri, Bass Pro Group LLC operates
"Bass Pro Shops", a retailer of outdoor recreational products
throughout the US and Canada. The company also manufactures and
sells recreational boats and related marine products under the
Tracker, Mako, Tahoe, Nitro, Ranger Boats, Stratos" and Triton
brand names. The company also owns the Big Cedar Lodge in
Ridgedale, Missouri and Big Cypress Lodge in Memphis, Tennessee.

Headquartered in Sidney, Nebraska, Cabela's Incorporated is a
retailer of hunting, fishing, camping, shooting sports, and related
outdoor merchandise. The company also issues the Cabela's CLUB®
Visa credit card, which serves as its primary customer loyalty
rewards program.

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



BAVARIA YACHTS: U.S. Trustee Unable to Appoint Committee
--------------------------------------------------------
An official committee of unsecured creditors has not yet been
appointed in the Chapter 11 case of Bavaria Yachts USA, LLLP, as of
Nov. 22, according to a court docket.

                   About Bavaria Yachts USA

Bavaria Yachts USA, LLLP, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. N. D. Ga. Case No. 16-68583) on Oct. 18,
2016.  The petition was signed by Kenneth Feld, manager of Oddbody
LLC, Debtor's general partner.  

At the time of the filing, the Debtor estimated its assets and
liabilities at $1 million to $10 million.

Louis G. McBryan, Esq., at McBryan LLC serves as the Debtor's
counsel.


BCDG LP: Wants to Use RBS Citizens Cash Collateral
--------------------------------------------------
BCDG, LP, asks the U.S. Bankruptcy Court for the Southern District
of Iowa for authorization to use cash collateral.

The Debtor believes that RBS Citizens, N.A., holds a valid
perfected and enforceable lien on and security interest in, the
Debtor's accounts, inventory, equipment, machinery and general
intangibles, and all their proceeds.

The Debtor seeks to use cash collateral for the payment of its
usual, ordinary, customary, regular and necessary post-petition
expenses incurred in the ordinary course of the Debtor's business
and for the payment of the prepetition claims approved and allowed
by the Court.

The Debtor's proposed four-week Budget covers the period from Nov.
18, 2016 to Dec. 15, 2016.  The Budget provides fort total expenses
in the amount of $633,500.

The Debtor proposes to grant RBS Citizens with a validly perfected
first priority lien on and security interest in the Debtor's
postpetition collateral, and the Carve-Out.  The Debtor further
proposes to grant RBS Citizens with a super-priority claim that
will have priority in the Debtor's bankruptcy case over all
priority claims and unsecured claims against the Debtor and its
estate, to the extent of any diminution of value of RBS Citizen's
interest in the collateral, and subject to the Carve-Out.

The Carve-Out will include any fees due to the U.S. Trustee, and
fees and expenses incurred by the Debtor's professionals in an
amount no to exceed $100,000.

A full-text copy of the Debtor's Motion, dated Nov. 18, 2016, is
available at
http://bankrupt.com/misc/BCDGLP2016_1602263als11_13.pdf

BCDG, LP, is represented by:

          Chet A. Mellema, Esq.
          Jeffrey D. Goetz, Esq.
          Krystal R. Mikkilineni, Esq.
          BRADSHAW FOWLER PROCTOR & FAIRGRAVE P.C.
          801 Grand Avenue, Suite 3700
          Des Moines, IA 50309-8004
          Telephone: (515) 246-5822
          E-mail: mellema.chet@bradshawlaw.com

                             About BCDG, LP

BCDG, LP, filed a chapter 11 petition (Bankr. S.D. Iowa Case No.
16-02263-als11) on
Nov. 18, 2016.  The Debtor is represented by Chet A. Mellema, Esq.,
Jeffrey D. Goetz, Esq., and Krystal R. Mikkilineni, Esq., at
Bradshaw Fowler Proctor & Fairgrave P.C.


BGM PASADENA: Wants Exclusivity Extended Thru Jan. 9 Plan Hearing
-----------------------------------------------------------------
BGM Pasadena, LLC requests the U.S. Bankruptcy Court for the
Central District of California for:

     -- a continuation of the hearing to consider confirmation of
the Debtor's Plan currently set for Dec. 1, 2016, to Jan. 9, 2016,
and

     -- an extension of the related plan filing and solicitation
period from its current expiration of December 2, 2016, to a day
after the continued confirmation hearing.

The Debtor also requests the Court to continue (a) the case
management conference currently set for December 1, 2016, at 10:30
a.m., and (b) Cantor Group, LLC's Motion for Relief from Stay,
currently trailing the December 1 confirmation hearing, to trail
the continued confirmation hearing.

The Debtor seeks the requested extensions due to on-going discovery
efforts that will not be completed in time for the currently
scheduled confirmation hearings.

The Debtor relates that since Sept. 7, 2016, and the hearing on the
Debtor's Discovery Motion on Nov. 1, 2016, -- which concerned 18
third-party subpoenas, two document requests, one deposition, and
one set of interrogatories to the Debtor -- Cantor has scheduled
two more depositions, the last of which was scheduled for Nov. 22,
2016.

Recently, on Nov. 16, 2016, Cantor provided the Debtor with
supplemental responses for the scheduled deposition on Nov. 21, of
its actual PMK, which consist of an additional 740 pages of
documents.  Even if the depositions go forward as scheduled and the
transcripts are expedited, it is simply impossible to comply with
the time requirements imposed by L.B.R. 7030-1 for the use of
deposition transcripts

The Debtor asserts that given the upcoming Thanksgiving holiday,
there is insufficient time to conclude the outstanding discovery,
review and analyze all responses and transcripts, and adequately
prepare for the hearing on confirmation.

While the brief continuance requested would necessarily cause a
short delay of the effective date, the Debtor tells the Court that
no other operative dates under the Plan would be affected including
the Cantor payoff date of February 28, 2017, and the distributions
to unsecured creditors on or before April 1, 2017.  In the interim,
Cantor Group, LLC is receiving monthly adequate protection payments
pursuant to a cash collateral stipulation.

                                  About BGM Pasadena

BGM Pasadena, LLC, a single asset real estate, filed Chapter 11
bankruptcy petition (Bankr. C.D. Cal. Case No. 15-27833) on Nov.
20, 2015.  Greg Galletly, the manager, signed the petition.  Judge
Richard M. Neiter has been assigned the case.  The Debtor estimated
assets in the range of $10 million to $50 million and liabilities
of at least $1 million.  James A. Tiemstra, Esq., and Lisa Lenherr,
Esq., at Tiemstra Law Group PC, in Oakland, California, serve as
counsel to the Debtor.  


BIG APPLE CIRCUS: Gets Buyers' Expressions of Interest
------------------------------------------------------
Jonathan Randles, writing for The Wall Street Journal Pro
Bankruptcy, reported that Big Apple Circus has received expressions
of interest in buying the organization that is plying its way
through bankruptcy proceedings.

According to the report, Circus's lawyer, Chris Updike, told a
court that he has received letters of interest from potential
buyers, and the circus is open to receiving offers that would allow
the show to go on. Mr. Updike said the nonprofit organization is
looking to secure an auctioneer.

At the hearing, U.S. Bankruptcy Judge Sean Lane expressed hope Big
Apple Circus, which filed for chapter 11 this week after an
emergency fundraising drive came up short, would be able to find a
buyer, the report related.

The judge said Big Apple Circus could tap a zero-interest loan
provided by Circus's directors that would pay the bills while a
team of professionals looks for a buyer for the organization's
intellectual property and equipment, including its big-top tent,
the report further related.

"Hopefully, bankruptcy will serve the Big Apple Circus well," Judge
Lane said during the hearing in Manhattan, the WSJ report said.

                  About Big Apple Circus

The Big Apple Circus, Ltd., filed a Chapter 11 petition (Bankr.
S.D.N.Y. Case No. 16-13297) on Nov. 20, 2016, and is represented by
Natasha M. Labovitz, Esq., at Debeovoise & Plimpton LLP, in New
York, and Christopher Updike, Esq., at Debeovoise & Plimpton LLP,
in New York.  At the time of filing, the Debtor had $1 million to
$10 million in estimated assets and $1 million to $10 million in
estimated debt.  The petition was signed by Will Maitland Weiss,
executive director.


BILTMORE 24 INVESTORS: Case Summary & 20 Top Unsecured Creditors
----------------------------------------------------------------
Debtor: Biltmore 24 Investors SPE, LLC
        5515 E. Deer Valley DR.
        Phoenix, AZ 85054

Case No.: 16-13358

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: November 22, 2016

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

Judge: Hon. Paul Sala

Debtor's Counsel: Anthony P. Cali, Esq.
                  STINSON LEONARD STREET, LLP
                  1850 N Central Ave, Ste 2100
                  Phoenix, AZ 85004
                  Tel: 602.212.8509
                  Fax: 602.586.5209
                  E-mail: anthony.cali@stinsonleonard.com

                    - and -

                  Thomas J. Salerno, Esq.
                  STINSON LEONARD STREET, LLP
                  1850 N Central Ave., Ste. 2100
                  Phoenix, AZ 85004
                  Tel: 602-212-8508
                  Fax: 602-240-6925
                  E-mail: thomas.salerno@stinsonleonard.com
                          anne.finch@stinson.com

Estimated Assets: $50 million to $100 million

Estimated Liabilities: $10 million to $50 million

The petition was signed by Bruce Gray, manager.

Debtor's List of 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Spray Systems                         Trade Debt         $315,663
Environmental
2202 W. Medtronic Way
Ste. 108
Tempe, AZ 85281

CCBG Architects, Inc.                 Trade Debt         $154,212

Beus Gilbert PLLC                     Legal Fees         $126,923

Coreslab Structures                   Trade Debt          $91,900

City of Phoenix City                   Utility            $85,604
Svcs - Water Dept

Waste Management of Arizona              Daves            $85,367
                                     Construction
                                         Acct.

Peterson Associates                   Trade Debt          $70,950

Kutak Rock LLP                        Legal Fees          $68,315
Hilgart Wilson, LLC                   Legal Fees          $63,573

Neil D. Biskind, PC                   Legal Fees          $41,049

David Evans &                        Trade Debt           $33,162
Associates

Arizona Dept of Revenue              State tax on         $26,510
                                   construction/demo
                                        costs

Pyro Tech Design                      Trade Debt          $17,990

PK Associates                         Trade Debt          $17,004

JRM Environmental Inc.                Trade Debt           $9,860

Jensen Hughes, Inc.                   Trade Debt           $9,158

City of Phoenix                         Tax                $8,491

Sunstate Mechanical Services          Trade Debt           $8,402

Wilson & Company                      Trade Debt           $6,903

Studio Sprawl LLC                     Trade Debt           $6,124


BIONIK LABORATORIES: Needs Financing to Continue as a Going Concern
-------------------------------------------------------------------
Bionik Laboratories Corp. filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, disclosing a
net income of $729,546 on $18,283 of sales for the three months
ended September 30, 2016, compared to a net income of $2.32 million
on $nil of sales for the same period in 2015.

The Company's balance sheet at September 30, 2016, showed total
assets of $30.35 million, total liabilities of $5.39 million, and a
stockholders' equity of $24.96 million.

As at September 30, 2016, the Company had a working capital deficit
of $2,784,377 (working capital as at March 31, 2016, of $187,156)
and an accumulated deficit of $13,245,206 (March 31, 2016 -
$11,651,980) and the Company incurred a net loss and comprehensive
loss of $1,593,226 for the six-month period ended September 30,
2016 (September 30, 2015 – net income of $827,503).

There is no certainty that the Company will be successful in
generating sufficient cash flow from operations or achieving and
maintaining profitable operations in the future to enable it to
meet its obligations as they come due and consequently continue as
a going concern.  The Company will require additional financing
this year to fund its operations and it is currently working on
securing this funding through corporate collaborations, public or
private equity offerings or debt financing.  Sales of additional
equity securities by the Company would result in the dilution of
the interests of existing stockholders.  There can be no assurance
that financing will be available when required.  In the event that
the necessary additional financing is not obtained, the Company
would reduce its discretionary overhead costs substantially, or
otherwise curtail operations.

The Company expects the forgoing, or a combination thereof, to meet
the Company's anticipated cash requirements for the next 12 months;
however, these conditions raise substantial doubt about the
Company's ability to continue as a going concern.

A full-text copy of the Company's Form 10-Q is available at:
                
                   https://is.gd/ySbKfG

Bionik Laboratories Corp. is a global pioneering robotics company
focused on providing rehabilitation solutions to individuals with
neurological disorders, specializing in designing, developing and
commercializing cost-effective physical rehabilitation
technologies, prosthetics, and assisted robotic products.  The
Company strives to innovate and build devices that can rehabilitate
and improve an individual's health, comfort, accessibility and
quality of life through the use of advanced algorithms and sensing
technologies that anticipate a user's every move.



BIORESTORATIVE THERAPIES: Recurring Losses Cast Going Concern Doubt
-------------------------------------------------------------------
BioRestorative Therapies, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, disclosing a
net loss of $1.83 million on $5,000 of revenues for the three
months ended September 30, 2016, compared to a net loss of $1.62
million on $96,122 of revenues for the same period in 2015.

For the nine months ended September 30, 2016, the Company recorded
a net loss of $6.58 million on $30,280 of revenues, compared to a
net loss of $4.80 million on $429,788 of revenues for the same
period last year.

The Company's balance sheet at September 30, 2016, showed total
assets of $1.62 million, total liabilities of $6.09 million, and a
stockholders' deficit of $4.47 million.

As of September 30, 2016, the Company had a working capital
deficiency and a stockholders' deficiency of $5,516,672 and
$4,471,334, respectively.  During the three and nine months ended
September 30, 2016, the Company incurred net losses of $1,833,878
and $6,579,621, respectively.  These conditions raise substantial
doubt about the Company’s ability to continue as a going
concern.

The Company's primary source of operating funds since inception has
been equity and debt financing.  The Company intends to continue to
raise additional capital through debt and equity financing.  There
is no assurance that these funds will be sufficient to enable the
Company to fully complete its development activities or attain
profitable operations.  If the Company is unable to obtain such
additional financing on a timely basis or, notwithstanding any
request the Company may make, the Company's debt holders do not
agree to convert their notes into equity or extend the maturity
dates of their notes, the Company may have to curtail its
development, marketing and promotional activities, which would have
a material adverse effect on the Company's business, financial
condition and results of operations, and ultimately the Company
could be forced to discontinue its operations and liquidate.

A full-text copy of the Company's Form 10-Q is available at:
                
                   https://is.gd/IBW6by

BioRestorative Therapies, Inc. (BRT), develops therapeutic products
and medical therapies using cell and tissue protocols, primarily
involving adult stem cells.  BRT is currently developing a
Disc/Spine Program referred to as "brtxDISC".  Its lead cell
therapy candidate, BRTX-100, is a product formulated from
autologous (or a person's own) cultured mesenchymal stem cells
collected from the patient's bone marrow.  The product is intended
to be used for the non-surgical treatment of protruding and bulging
lumbar discs in patients suffering from chronic lumbar disc
disease.




BROOKLYN INTERIORS: Wants to Move Plan Filing Period to Feb. 17
---------------------------------------------------------------
Brooklyn Interiors, Inc. d/b/a The DDC Group requests the U.S.
Bankruptcy Court for the Southern District of New York to extend
the Debtor's exclusive period to file a plan of reorganization and
disclosure statement by 60 days from December 19, 2016, or through
and including February 17, 2017.

The Debtor contends that it is still working on various issues
relating to the reorganization that will further progress beyond
the current exclusive periods. The Debtor will require time to
analyze and negotiate payment terms of the claims filed against it
including, but not limited to, the large claim filed by Plan Do See
America, Inc. for pre-petition liabilities.  

A hearing on the Debtor's exclusivity extension request will be
held on December 6, 2016 at 10:00 a.m.  Any objection to the
Debtor's request are required to be filed and served on or before
November 29, 2016.

                             About Brooklyn Interiors

Brooklyn Interiors, Inc. filed a Chapter 11 petition (Bankr.
S.D.N.Y. Case No. 1622845), on June 22, 2016.  The Petition was
signed by Dennis Darcy, president.  The Debtor is represented by
Kenneth A. Reynolds, Esq. at McBreen & Kopko.  At the time of
filing, the Debtor estimated assets at $100,000 to $500,000 and
liabilities at $500,000 to $1 million.

A Creditors' Committee has not been appointed by the Office of the
United States Trustee.


BROUGHER INC: Hires H Gray Burks as Special Litigation Counsel
--------------------------------------------------------------
Brougher, Inc. seeks authorization from the U.S. Bankruptcy Court
for the Southern District of Texas to employ  H. Gray Burks, IV of
ShapiroSchwartz, LLP as special litigation counsel, nunc pro tunc
to August 23, 2016.

The scope of representation is for Mr. Burks to investigate the
facts, research applicable law, draft demand letters, and discuss
and negotiate a resolution of these claims, and if necessary and if
advisable, file a lender liability lawsuit which may include breach
of contract, tortious interference of business, breach of good
faith and fair dealing in a special relationship against the Bank,
and violation of the Fair Debt Collection Practices Act, as
applicable.

Wade Brougher, the president of the Debtor, has paid all fees for
the firm's representation incurred pre-petition and a retainer fee
of $3,750 to be applied to an hourly attorney rate of $375 per
hour. The retainer was not paid by the Debtor and is not property
of the estate.

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

Mr. Burks, assured the Court that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code and does not represent any interest adverse to the Debtor and
its estate.

The counsel can be reached at:

       Mr. H. Gray Burks, IV
       SHAPIROSCHWARTZ, LLP
       13105 Northwest Freeway, Suite 1200
       Houston, TX 77040
       Tel: (713) 933-1509
       Fax: (847) 879-4854

                    About Brougher Inc.

Brougher, Inc. sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. S. D. Texas Case No. 16-35575) on November 2, 2016.
The petition was signed by Wade Brougher, president.  

The case is assigned to Judge Jeff Bohm.

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


CAESARS ENTERTAINMENT: U.S. Trustee Objects to Ch. 11 Exit Plan
---------------------------------------------------------------
The American Bankruptcy Institute, citing Tracy Rucinski of
Reuters, reported that the U.S. Trustee objected to Caesars
Entertainment Operating Co. Inc.'s proposal to exit Chapter 11,
threatening to derail a largely consensual plan to slash $10
billion of debt.

According to the report, in a filing with the U.S. Bankruptcy Court
in Chicago, the U.S. Trustee objected to the releases and the
exculpation of "a wide array of parties for acts far beyond the
plan or the Chapter 11 cases."  The U.S. Trustee called the
releases "blanket immunity," the report related.

The Debtors' Third Amended Joint Plan of Reorganization provides
that on the Effective Date, OpCo shall issue OpCo Series A
Preferred Stock.  As described more fully in the Restructuring
Transactions Memorandum, OpCo will merge into a newly formed
subsidiary of New CEC (or its predecessors) pursuant to the CEOC
Merger.  In exchange for the CEOC Merger, on the Effective Date,
New CEC shall issue New CEC Common Equity in accordance with the
Plan distributions in Article III hereof in exchange for the OpCo
Series A Preferred Stock to the Holders of Prepetition Credit
Agreement Claims, Secured First Lien Notes Claims, and Non-First
Lien Claims pursuant to the terms of the Plan.  The percentages of
New CEC Common Equity issued pursuant to the Plan will take into
account any dilution that would otherwise occur based on the
potential conversion of New CEC Convertible Notes to New CEC Common
Equity but will not take into account the New CEC Common Equity
Buyback.

The WSJ related that the U.S. Trustee, which oversees the
administration of bankruptcy cases, also criticized the legal
releases as too broad for shielding against willful misconduct or
actual fraud.

                   About Caesars Entertainment

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

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

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

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

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

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

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

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

                         *     *     *

The U.S. Bankruptcy Court for the Northern District of Illinois
approved the adequacy of the disclosure statement explaining the
second amended joint Chapter 11 plan of reorganization of Caesars
Entertainment Operating Company Inc. and it debtor-affiliates.

The Court set Oct. 31, 2016, at 4:00 p.m. (prevailing Central
Time) as last day for any holder of a claim entitled to vote to
accept or reject the Debtors' plan.  

A hearing is set for Jan. 17, 2017, at 10:30 a.m. (prevailing
Central Time) in Courtroom No. 642 in the Everett McKinley Dirksen
United States Courthouse, 219 South Dearborn Street, Chicago,
Illinois, to confirm the Debtors' plan.  Objections to
confirmation, if any, were due Oct. 31.


CALMARE THERAPEUTICS: Needs More Time to File Form 10-Q
-------------------------------------------------------
Calmare Therapeutics Incorporated was unable, without unreasonable
effort or expense, to file its quarterly report on Form 10-Q for
the period ended Sept. 30, 2016, by the Nov. 14, 2016, filing date
applicable to smaller reporting companies due to a delay
experienced by the Company in completing its financial statements
and other disclosures in the Quarterly Report.  As a result, the
Company said it is still in the process of compiling required
information to complete the Quarterly Report and its independent
registered public accounting firm requires additional time to
complete its review of the financial statements for the period
ended Sept. 30, 2016, to be incorporated in the Quarterly Report.
The Company anticipates that it will file the Quarterly Report no
later than the fifth calendar day following the prescribed filing
date.

                   About Calmare Therapeutics

Calmare Therapeutics Incorporated, formerly known as Competitive
Technologies, Inc., provides distribution, patent and technology
transfer, sales and licensing services focused on the needs of its
customers and matching those requirements with commercially viable
product or technology solutions.  Sales of the Company's Calmare(R)
pain therapy medical device continue to be the major source of
revenue for the Company.

Calmare reported a net loss of $3.67 million on $891,000 of product
sales for the year ended Dec. 31, 2015, compared to a net loss of
$3.41 million on $1.04 million of product sales for the year ended
Dec. 31, 2014.

Mayer Hoffman McCann CPAs, in New York, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2015, citing that the Company has incurred operating
losses since fiscal year 2006 and has a working capital and
shareholders' deficiency at Dec. 31, 2015.  These conditions raise
substantial doubt about the Company's ability to continue as a
going concern.


CARLYLE GLOBAL 2015-3: S&P Affirms B- Rating on Class E Notes
-------------------------------------------------------------
S&P Global Ratings affirmed its credit ratings on Carlyle Global
Market Strategies Euro CLO 2015-3 D.A.C's class A-1, A-2, B, C, D,
and E notes.

Most European cash flow collateralized loan obligations (CLOs)
close before purchasing the full amount of their targeted level of
portfolio collateral.  On the closing date, the collateral manager
typically covenants to purchase the remaining collateral within the
guidelines specified in the transaction documents to reach the
target level of portfolio collateral.  Typically, the CLO
transaction documents specify a date by which the targeted level of
portfolio collateral must be reached.  The "effective date" for a
CLO transaction is usually the earlier of the date on which the
transaction acquires the target level of portfolio collateral, or
the date defined in the transaction documents.  Most transaction
documents contain provisions directing the trustee to request the
rating agencies that have issued ratings upon closing to affirm the
ratings issued on the closing date after reviewing the effective
date portfolio (typically referred to as an "effective date rating
affirmation").

An effective date rating affirmation reflects S&P's opinion that
the portfolio collateral purchased by the issuer, as reported to
S&P by the trustee and collateral manager, in combination with the
transaction's structure, provides sufficient credit support to
maintain the ratings that S&P assigned on the transaction's closing
date.  The effective date reports provide a summary of certain
information that S&P used in its analysis and the results of its
review based on the information presented to S&P.

S&P believes the transaction may see some benefit from allowing a
window of time after the closing date for the collateral manager to
acquire the remaining assets for a CLO transaction.  This window of
time is typically referred to as a "ramp-up period". Because some
CLO transactions may acquire most of their assets from the
new-issue leveraged loan market, the ramp-up period may give
collateral managers the flexibility to acquire a more diverse
portfolio of assets.

For a CLO that has not purchased its full target level of portfolio
collateral by the closing date, S&P's ratings on the closing date
and prior to its effective date review are generally based on the
application of S&P's criteria to a combination of purchased
collateral, collateral committed to be purchased, and the
indicative portfolio of assets provided to S&P by the collateral
manager, and may also reflect its assumptions about the
transaction's investment guidelines.  This is because not all
assets in the portfolio have been purchased.

In line with most CLO transactions, the issuer was required to seek
rating agency confirmation (RAC) prior to the effective date.
Failure to receive a RAC can lead to the triggering of an effective
date rating event, the consequences of which are outlined in the
transaction documents, but typically include the redemption of the
notes.

S&P reviewed this transaction as part of our standard surveillance
process, and at this time noted that S&P did not receive a request
for a RAC prior to the effective date.  S&P understands that this
was due to an operational error.  S&P has requested and received
confirmation from the manager and trustee that, in their opinion,
this does not constitute a breach of obligations or an event of
default, and that all other requirements were satisfied as of the
effective date.  This includes all collateral quality, portfolio
profile, and coverage tests.

In S&P's analysis, it noted that the portfolio has complied with
all tests since the effective date, including S&P's CDO Monitor
test.

S&P has analyzed this transaction in line with its corporate
collateralized debt obligation (CDO) criteria.  S&P conducted its
cash flow analysis to determine the break-even default rates (BDR)
for each rated class of notes at each rating level.  The BDR
represents S&P's estimate of the maximum level of gross defaults,
based on its stress assumptions, that a tranche can withstand and
still pay interest and fully repay principal to the noteholders.
S&P used the portfolio balance that it considers to be performing,
the reported weighted-average spread, and the weighted-average
recovery rates that S&P considered to be appropriate.  S&P
incorporated various cash flow stress scenarios using its standard
default patterns and timings for each rating category assumed for
each class of notes, combined with different interest stress
scenarios as outlined in S&P's criteria.

The results of S&P's cash flow analysis indicate that the
transaction is able to maintain the currently assigned rating
levels.  Accordingly, S&P has affirmed its ratings on all classes
of notes in this transaction.

In line with S&P's standard surveillance process, it will
periodically review whether, in its view, the current ratings on
the notes remain consistent with the credit quality of the assets,
the credit enhancement available to support the notes, and other
factors, and take rating actions as S&P deems necessary.

Carlyle Global Market Strategies Euro CLO 2015-3 is a European cash
flow CLO securitization of a revolving pool, comprising primarily
euro- and sterling-denominated senior secured loans and bonds
granted to broadly syndicated corporate borrowers.  The transaction
closed in December 2015 and is managed by CELF Advisors LLP.  Its
reinvestment period ends in January 2020, with a final maturity in
January 2029.

RATINGS LIST

Class             Rating

Carlyle Global Market Strategies Euro CLO 2015-3 DAC
EUR517 Million Senior Secured Floating-Rate Notes (Including
EUR55.10 Million Subordinated Notes)

Ratings Affirmed

A-1               AAA (sf)
A-2               AA (sf)
B                 A (sf)
C                 BBB (sf)
D                 BB (sf)
E                 B- (sf)


CHINA TELETECH: Rescinds Jinke Exchange Agreement
-------------------------------------------------
As previously reported, on Jan. 28, 2015, a Share Exchange
Agreement was entered into by and among China Teletech Holding
Inc., Shenzhen Jinke Energy Development Co., Ltd., a company
organized under the laws of the People's Republic of China, and
Guangyuan Liu, the holder of 97% of the equity interest of Jinke,
pursuant to which the Company agreed to issue an aggregate of
20,000,000 shares of its common stock, $0.001 par value per share
to the Jinke Shareholder in exchange for 51% of the issued and
outstanding securities of Jinke.  The Company issued 16,000,0000
shares of Company's Common Stock on Oct. 5, 2014, to the Jinke
Shareholder.

On Nov. 15, 2016, the Company, Jinke and the Jinke Shareholder
entered into a Mutual Rescission Agreement, whereby the parties
agreed to rescind the Jinke Exchange Agreement and unwind the Jinke
Reverse Merger as if they never occurred, for a consideration of
10,000,000 newly issued restricted shares of the Company's common
stock to be issued to the Jinke Shareholder upon closing of the
transactions contemplated in the Rescission Agreement.  Upon
closing of the Rescission Agreement on Effective Date, the Jinke
Shareholder returned and surrendered the Company Shares and the
Company returned and surrendered the Jinke Shares and issued the
Rescission Shares to Jinke Shareholder.

                    Kuncheng Exchange Agreement

On Nov. 15, 2016, the Company, Liaoning Kuncheng Education
Investment Co. Ltd., a company organized under the laws of the
People's Republic of China, and Kunyuan Yang, the sole shareholder
of Kuncheng, entered into a certain share exchange agreement
pursuant to which the Company agreed to purchase 51% of the equity
ownership in Kuncheng, with the purchase price as an aggregate of
30,000,000 shares of Common Stock issued to the Kuncheng
Shareholder.

In connection with the Kuncheng Share Exchange, Kuncheng will
appoint three additional members to the Board of Directors of the
Company, including the Kuncheng Shareholder who will also be
appointed as the Chairman of the Board, to be effective upon the
Closing of Kuncheng Share Exchange.

            Unregistered Sales of Equity Securities

Upon closing of the transactions related to the Rescission
Agreement, the Rescission Shares are being offered and issued in
reliance upon the exemption from registration pursuant to the
exemption from registration provided by Section 4(a)(2) of the
Securities Act of 1933, as amended.

                      Director Resigns

Pursuant to the Rescission Agreement and in connection with the
unwinding of Jinke Exchange Transaction, Mr. Guangyuan Liu, the
Jinke Shareholder, resigned from the Board as of the Effective Date
and effective immediately.  The Jinke Shareholder did not resign as
a result of any disagreement with the Company on any matter
relating to its operation, policies (including accounting or
financial policies), or practices.

                     Directors Appointment

Pursuant to the Kuncheng Exchange Agreement, upon closing of the
Kuncheng Share Exchange, Mr. Kunyuan Yang and two other individuals
designated by Kuncheng will be appointed to the Board, and Mr.
Kunyuan Yang will also be appointed as chairman of the Board.

Mr. Kunyuan Yang founded Liaoning Kuncheng Education Investment
Co., Ltd. in 2016 and has been its CEO since then to present.  From
July 2014 to present, Mr. Yang has been the chairman of Education
Magazine for Fop Students, and the chairman of Shenyang
International A-Level Center.  From November 2012 to July 2014, Mr.
Yang was the inspector of Business Department at the Investment
Promotion Bureau of the Management Committee of Shenyang European
Union Economic Development Zone.  From August 2010 to October 2012,
he was the executive director of Shenyang Kuncheng Real Estate
Development Co., Ltd.  Mr. Yang received his Sentosa Hospitality &
tourism Advanced Diploma in September 2008, from Temasek
Polytechnic in Singapore.

There are no family relationships between Kuncheng Shareholder and
any other executive officer or director of the Company.  As of
Effective Date, there are no related party transactions reportable
under Item 5.02 of Form 8-K and Item 404(a) of Regulation S-K,
other than the Kuncheng Share Exchange disclosed in Item 1.01 of
this Report, where Kuncheng Shareholder is the sole owner of
Kuncheng.

                        About China Teletech

Tallahassee, Fla.-based China Teletech Holding, Inc., is a
national distributor of prepaid calling cards and integrated
mobile phone handsets and a provider of mobile handset value-added
services.  The Company is an independent qualified corporation
that serves as one of the principal distributors of China Telecom,
China Unicom, and China Mobile products in Guangzhou City, China.

On June 30, 2012, the Company strategically sold its wholly-owned
subsidiary, Guangzhou Global Telecommunication Company Limited
("GGT"), to a third party.  GGT was engaged in the trading and
distribution of cellular phones and accessories, prepaid calling
cards, and rechargeable store-value cards.

China Teletech reported a net loss of $907,000 on $4.29 million of
sales for the year ended Dec. 31, 2014, compared with a net loss of
$295,000 on $5.03 million of sales for the same period in 2013.

As of Dec. 31, 2014, the Company had $11.8 million in total assets,
$14.6 million in total liabilities and a $2.77 million total
deficit.

WWC, P.C., in San Mateo, California, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2014, citing that the Company has incurred
substantial losses which raise substantial doubt about its ability
to continue as a going concern.


CHS/COMMUNITY HEALTH: Moody's Affirms B2 CFR; Outlook Negative
--------------------------------------------------------------
Moody's Investors Service changed CHS/Community Health Systems,
Inc.'s rating outlook to negative from developing.  Moody's also
downgraded Community's Speculative Grade Liquidity rating to SGL-3
from SGL-2.  Moody's affirmed Community's Corporate Family and
Probability of Default Ratings at B2 and B2-PD, respectively.  The
Ba3 ratings on the company's senior secured bank debt and senior
secured bonds and Caa1 rating on its unsecured notes were also
affirmed.

"The change in Community's rating outlook to negative reflects our
expectation that difficulties in improving operating results will
result in debt to EBITDA remaining well above 6.0 times," stated
Dean Diaz, Moody's Senior Vice President.  "While the company has
reiterated its plan to divest facilities and is exploring strategic
alternatives, declining EBITDA and the significant amount of
outstanding debt will make it increasingly difficult to
meaningfully improve credit metrics through these means," continued
Diaz.

The downgrade of Community's Speculative Grade Liquidity rating to
SGL-3 reflects Moody's expectation that Community's liquidity will
weaken, but remain adequate.  Moody's anticipates that the decline
in profitability will reduce available free cash flow and reduce
headroom in complying with financial covenants.

The affirmation of Community's B2 Corporate Family Rating reflects
Moody's expectation that the company will have difficulty reducing
leverage.  However, the application of asset sale proceeds to debt
repayment and recent actions to reduce costs and address weak
volumes should impede further deterioration in financial metrics.

Following is a summary of Moody's rating actions.

Ratings downgraded:
  Speculative Grade Liquidity Rating to SGL-3 from SGL-2

Ratings affirmed:
  Corporate Family Rating at B2
  Probability of Default Rating at B2-PD
  Senior secured bank credit facilities at Ba3 (LGD 2)
  Senior secured notes at Ba3 (LGD 2)
  Senior unsecured notes at Caa1 (LGD 5)

The rating outlook was revised to negative from developing.

                         RATINGS RATIONALE

Community's B2 Corporate Family Rating reflects Moody's expectation
that the company will continue to operate with very high financial
leverage over the next 12 to 18 months as ongoing operational
initiatives have failed to mitigate the impact of negative
operating trends.  Further, while planned asset sales will allow
the company to repay debt, the impact on leverage will be limited
given the significant amount of debt outstanding and the foregone
EBITDA of those divested operations.  Supporting the rating is
Community's large scale and strong market presence. Scale remains
significant even after the spin-off of 38 facilities and a hospital
management business into Quorum Health Corporation and other
planned divestitures.

If the company's liquidity weakens, either because of operational
shortfalls or adverse developments related to ongoing
investigations, or if compliance with covenants becomes less
certain, Moody's could downgrade the ratings.  Further, if the
company fails to address refinancing needs well in advance of
upcoming maturities, the ratings could be downgraded.  Ratings
could also be downgraded if there is further earnings
deterioration, or if Moody's does not expect Community's debt to
EBITDA to decline closer to 6.0 times.

Moody's could upgrade the ratings if operational initiatives result
in volume growth that remains on par with the peer group. Community
will also have to strengthen its liquidity and reduce and sustain
debt to EBITDA below 5.0 times prior to a ratings upgrade.
Finally, Moody's would have to gain additional certainty around the
path the company is pursuing with respect to its review of
strategic options.

CHS/Community Health Services, Inc., headquartered in Franklin,
Tennessee, is an operator of general acute care hospitals in
non-urban and mid-sized markets throughout the US. Community
recognized approximately $19.2 billion in revenue for the twelve
months ended Sept. 30, 2016.

The principal methodology used in these ratings was "Business and
Consumer Service Industry" published in October 2016.


CONSTELLATION ENTERPRISES: Court OKs Settlement With EPA, NOAA
--------------------------------------------------------------
BankruptcyData.com reported that the U.S. Bankruptcy Court approved
Constellation Enterprises' motion to approve a compromise and
settlement by and among the Debtors, the United States
Environmental Protection Agency (EPA), the National Oceanic and
Atmospheric Administration (NOAA), the United States Department of
Interior (DOI), the State of Washington, Earle M. Jorgensen Company
(EMJ), Boeing Company, Associated Indemnity Corporation (AIC), the
Chubb Companies and the Buyer. As previously reported, "The
following is a summary of certain terms of the Settlement
Agreement: a. The United States, on behalf of EPA, shall have an
Allowed General Unsecured Claim in the amount of $4.2 million in
settlement and satisfaction of the Settling Federal Agencies Claims
against the Debtors with respect to the Facility, the Jorgensen
Forge Outfall Site, and the LDW Superfund Site. b. The United
States, on behalf of NOAA and DOI shall have an Allowed General
Unsecured Claim in the amount of $2,871,015 in settlement and
satisfaction of the Claims of NOAA and DOI against the Debtors for
natural resources damages with respect to the LDW Superfund Site
and the East and West Waterways of Harbor Island. AIC agrees to pay
$1.9 million within 30 days of this Court's approval of the
Settlement Agreement, consisting of $1.55 million to the Chubb
Companies, $200,000 to EMJ to reimburse EMJ for certain defense
services, and $150,000 to the Buyer. The Buyer and Boeing agree to
share the costs if they exceed $1.6 million, in a 75% / 25%
allocation, with Boeing bearing 75% and the Buyer bearing 25% of
the new costs."

              About Constellation Enterprises

Constellation Enterprises LLC, through its subsidiaries,
manufactures custom engineered metal components for various end
markets such as rail transportation, oil and gas, general
industrial, nuclear, aerospace, and small gas engine markets.  The
company was incorporated in 1996 and is based in Caldwell, Texas.

Constellation Enterprises LLC and its affiliates filed for Chapter
11 bankruptcy protection (Bankr. D. Del. Lead Case No. 16-11213) on
May 16, 2016.

The petitions were signed by William Lowry, chief financial
officer.

The Debtors estimated their assets at between $1 million and $10
million and their debts at between $100 million and $500 million.

Adam C. Rogoff, Esq., and Joseph A. Shifer, Esq., at Kramer Levin
Naftalis & Frankel LLP serve as the Debtors' bankruptcy counsel.
Daniel J. DeFranceschi, Esq., Zachary I. Shapiro, Esq., Rachel L.
Biblo, Esq., and Joseph C. Barsalona II, Esq., at Richards, Layton
& Finger, P.A., serve as the Debtors' co-counsel.

Imperial Capital, LLC, is the Debtors' financial advisor. Conway
Mackenzie Management Services LLC is the Debtors' crisis management
& restructuring services provider.  Epiq Bankruptcy Solutions, LLC,
is the Debtors' claims and noticing agent.


CRIIMI MAE 1998-C1: S&P Raises Rating on Class G Notes to B-
------------------------------------------------------------
S&P Global Ratings raised its rating on the class G notes from
CRIIMI MAE Commercial Mortgage Trust's series 1998-C1, a
resecuritized real estate mortgage investment conduit (re-REMIC)
transaction, to 'B- (sf)' from 'CCC- (sf)'.

The rating action follows S&P's review of the transaction's
performance using data from the November 2016, trustee report.

Since S&P's January 2014 rating actions, the class D-2, E, and F
notes have been paid down in full, and the class G notes began
receiving paydowns.  Following the Nov. 2, 2016, payment date, the
class G outstanding balance is about 29.41% of its original
balance.

The paydowns and the improvement in the portfolio's credit quality
increased the credit support to the notes.  Therefore, S&P raised
its rating on the class G notes to 'B- (sf)', to reflect this
increase in its credit support.  Although there are only a few
assets remaining in the transaction, which increases the
concentration risk, and the class passes our top obligor test only
at the 'CCC' category, S&P do not feel that this class exhibits the
characteristics of 'CCC' risk as defined in S&P's criteria.

S&P's review of the transaction relied in part, upon a criteria
interpretation with respect to its May 2014 criteria, "CDOs:
Mapping A Third Party's Internal Credit Scoring System To Standard
& Poor's Global Rating Scale," which allows S&P to use a limited
number of public ratings from other nationally recognized
statistical rating organizations (NRSROs) to assess the credit
quality of assets not rated by S&P Global Ratings.  The criteria
provide specific guidance for the treatment of corporate assets not
rated by S&P Global Ratings, while the interpretation outlines the
treatment of securitized assets.

S&P will continue to review whether, in its view, the ratings
assigned to the notes remain consistent with the credit enhancement
available to support them, and will take rating actions as S&P
deems necessary.



CRYOPORT INC: Incurs $2.18 Million Net Loss in Second Quarter
-------------------------------------------------------------
Cryoport, Inc. filed with the Securities and Exchange Commission
its quarterly report on Form 10-Q disclosing a net loss of $2.18
million on $1.97 million of revenues for the three months ended
Sept. 30, 2016, compared to a net loss of $2.42 million on $1.43
million of revenues for the three months ended Sept. 30, 2015.

For the six months ended Sept. 30, 2016, the Company reported a net
loss of $6.11 million on $3.89 million of revenues compared to a
net loss of $4.34 million on $2.86 million of revenues for the same
period a year ago.

As of Sept. 30, 2016, Cryoport had $5.99 million in total assets,
$2.29 million in total liabilities and $3.69 million in total
stockholders' equity.

As of Sept. 30, 2016, the Company had cash and cash equivalents of
$2.6 million and working capital of $2.0 million.  Historically,
the Company has financed its operations primarily through sales of
the Company's debt and equity securities.

For the six months ended Sept. 30, 2016, the Company used $3.0
million of cash for operations primarily as a result of the net
loss of $6.1 million offset by non-cash expenses of $3.7 million
primarily comprised of warrant repricing expense of $1.9 million,
amortization of debt discounts, stock-based compensation expense,
and depreciation and amortization.  Also contributing to the cash
impact of the Company's net operating loss, excluding non-cash
items, was an increase in prepaids and other current assets of
$358,100 and a reduction in accounts payable and other accrued
expenses and accrued compensation of $228,700.  

Net cash used in investing activities of $266,200 during the six
months ended Sept. 30, 2016, was primarily due to the purchase of
Cryoport Express CXVC1 Shippers, SmartPak IITM monitoring systems
and computer equipment.

Net cash provided by financing activities totaled $3.0 million
during the six months ended Sept. 30, 2016, and resulted from net
proceeds from the April 2016 Tender Offer of $2.2 million and net
proceeds from the rights offering of $998,700 completed in June
2016, partially offset by the repayment of related party notes of
$227,000.

"The Company's management believes that, based on its current plans
and assumptions, the current cash on hand, together with projected
cash flows, will satisfy our operational and capital requirements
into the second quarter of calendar year 2017.  The Company's
management recognizes that the Company may need to obtain
additional capital to fund its operations until sustained
profitable operations are achieved.  Additional funding plans may
include obtaining additional capital through equity and/or debt
funding sources.  The Company currently anticipates that it will
continue to raise additional capital to fund its short term
operating expenses pursuant to private placements similar to
private placements the Company has conducted in the past.  No
assurance can be given that additional capital, if needed, will be
available when required or upon terms acceptable to the Company,"
as disclosed in the filing.

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

                     https://is.gd/XBXaFV

                        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.


CRYSTAL LAKE GOLF: Needs Until August 2017 to File Ch.11 Plan
-------------------------------------------------------------
Crystal Lake Golf Club LLC, asks the U.S. Bankruptcy Court for the
District of Massachusetts to extend the time by which a Debtor has
the exclusive right to file a plan and disclosure statement from
November 23, 2016 to August 1, 2017.

The Debtor notes that the last day for creditors to file proofs of
claim was set by the Court at January 23, 2016.  The Debtor
contends that its business is seasonal, which closes its doors on
or about December 1st of each calendar year and reopens, weather
permitting, on or about April 15th.

In order to formulate a feasible plan, the Debtor needs to review
the proofs of claim filed and post-petition gross income generated,
including, but not limited to membership renewals, new memberships,
and regular seasonal revenues.  In addition, the Debtor is also in
discussions with certain creditors in an effort to reach an
agreement regarding their secured positions.

                     About Crystal Lake Golf Club LLC

Crystal Lake Golf Club, LLC, filed a chapter 11 petition (Bankr. D.
Mass. Case No. 16-41324) on July 27, 2016.  The petition was signed
by Michael J. Maroney, managing member.  The case is assigned to
Judge Christopher J. Panos.  The Debtor estimated assets at
$500,000 to $1 million and liabilities at $1 million to $10 million
at the time of the filing.

The Debtor is represented by Richard A. Mestone, Esq., at Mestone &
Associates LLC.  The Debtor employs Jeffrey M. Dennis, CPA, as
accountant.


CSM BAKERY: S&P Lowers CCR to 'CCC+' on Operational Stumbles
------------------------------------------------------------
S&P Global Ratings said that it lowered its corporate credit rating
on CSM Bakery Solutions LLC to 'CCC+' from 'B'.  The outlook is
negative.

At the same time, S&P lowered its ratings on the company's
$850 million first-lien term loan due in 2020 to 'CCC+' from 'B+'
and $210 million senior secured second-lien term loan due in 2021
to 'CCC-' from 'CCC+'.  The '3' recovery rating (revised from '2')
on the first-lien term loan indicates S&P's expectation for
meaningful (upper half of the 50%-70% range) recovery in the event
of a payment default.  The '6' recovery rating on the second-lien
term loan indicates S&P's expectations for negligible (0%-10%)
recovery.

Funded debt for the 12 months ended Oct. 1, 2016, was $1 billion.

S&P's downgrade reflects the company's constrained liquidity
position from continued weakened profitability due to elevated
costs and inventory mismanagement from the rollout of enterprise
software in North America.  The company has entered into a term
loan agreement with its financial sponsor owners Rhone Capital at
an annual rate of 15% to improve its liquidity position.  As of
Oct. 18, 2016, the company borrowed EUR25 million under this
agreement (maximum EUR50 million available) for working capital
purposes.  S&P believes this term loan is being used to prevent the
company from triggering its springing fixed charge covenant of 1.0x
on its $150 million ABL facility because it would not be in
compliance.  The covenant springs when availability falls below $15
million.  At the end of the third quarter, availability under the
ABL was EUR34 million and the springing fixed charge test was
calculated at 0.9x.  

"The company's issues with the rollout of its SAP implementation
bottomed out in the third quarter after we expected improvements in
the back half of 2016.  Year-to-dateas of Oct. 1, 2016, the company
had incurred EUR62 million of business disruption costs related to
SAP.  Excluding these charges, EBITDA has fallen by 50% in the same
period year-over-year due to lost business from the rollout, higher
inventory levels, and higher warehouse and distribution costs.  The
company could not fill orders on time due to system issues, leading
to a loss of business in the U.S. as customers sought supplies from
competitors and others filed claims against the company for not
fulfilling orders.  Case fill rates are at historical levels and
order fill rates are returning there (albeit slowly), and the
company has won back half of the business it lost.  However, full
recovery will take time as customers work through current
commitments or short-term contracts they entered into with
competing suppliers.  The system issues led to higher inventory
levels and warehouse and disruption costs in the third quarter.
Subsequently the company worked to get through those inventory
levels quickly, selling items at lower prices and delivering
products inefficiently just to meet customer demand. The decline in
inventory increased cash flow from operations in the quarter, but
we do not expect to see the same level of improvement in the fourth
quarter," S&P said.

The continued operational challenges have led S&P to revise its
base-case forecast downward.  S&P's forecast now includes these
assumptions:

   -- CSM will have mid-single-digit percent revenue declines from

      lower volumes as the company works to regain lost business
      from the SAP implementation.  S&P expects flat growth in
      2017 as the company focuses on a core portfolio of stock
      keeping units (SKUs), regains lost business and operates
      under its new organizational structure that is focused on
      customers, not geographies.

   -- S&P's revenue estimates of negative 5% in 2016 and positive
      0.5% in 2017 are below U.S. real GDP growth of 1.5% in 2016
      and 2.4% in 2017, with respective increases in consumer
      spending of 3.1% and 2.7%, and in eurozone GDP growth of
      1.6% and 1.8%.  Negative EBITDA in 2016 given the
      unexpectedly high SAP implementation, disruption costs, and
      ongoing restructuring costs included in S&P's EBITDA,
      improving to EBITDA  of about $110 million in2017 as these
      costs no longer occur and the company starts to win back
      business lost in 2016.

   -- Capital expenditures of EUR55 million in 2016 and 2017.  
      This is lower than S&P expected, as the company has pushed
      back some of its footprint optimization plan.

   -- Negative free operating cash flow in 2016 and 2017.

CSM operates in the highly competitive and fragmented bakery supply
industry and is one of the largest bakery supply companies, with
over 40,000 customers in various channels, including modern and
traditional trade, foodservice, and industrial.  The company
produces and distributes a wide range of bakery products from
finished goods to ingredients.  It also provides research and
development for some customers.  The company had about
EUR2.6 billion in net sales for the 12 months ended October 2016.
It is geographically diverse with 60% of sales from North America
and 40% from Europe.  However, operating margins are lower than
that of its packaged-food peers due to the commodity-like nature of
its bakery ingredients products, consistent for the industry. The
company is focused on reorganizing based on customers and channels
rather than geography, and hopes to achieve synergies from greater
efficiency in procurement of materials over the next few years.
The company is also focusing on its pricing strategy and SKU
rationalization in the near term to offset potential volatility
from input costs, which affected profitability in recent years.

Liquidity

S&P believes CSM will have less than adequate sources of liquidity
to meet its needs during the next 12 months as the company is
heavily into its $150 million ABL expiring July 2018, with
EUR96 million outstanding at the end of the third quarter and EUR34
million available.  The ABL has a springing fixed-charge covenant
of 1.0x when availability falls below $15 million which S&P do not
expect to be tested over the next 12 months.  However, if it is
tested, the company would not be in compliance.  S&P expects the
company will manage its ABL borrowings and liquidity to not trigger
the covenant.  Additionally, the company has
EUR30 million cash on the balance sheet at the end of the third
quarter that can be used to repay debt.  S&P views CSM's bank
relationships as sound, but given the company's currently high debt
levels, S&P do not believe the company can absorb a high-impact,
low-probability event without the need for refinancing.

Principal liquidity sources

   -- Availability of EUR34 million as of Oct. 1, 2016, on the
      $150 million ABL.
   -- Cash as of Oct. 1, 2016, of EUR30 million.

Principal liquidity uses:

   -- Negative cash funds from operations (FFO) over the next 12
      months.  Maintenance capital expenditures of EUR40 million.

   -- Peak working capital outflows of EUR50 million over the next

      12 months.  Annual term loan amortization of EUR7.7 million.

The negative outlook reflects the likelihood that S&P could lower
the ratings over the next few quarters if the company's liquidity
position worsens from increased loss of business or if cash flow
from operations does not turn positive in the fourth quarter from
accounts receivable conversion, resulting in higher ABL borrowings.
A violation of financial covenants -- or if S&P come to believe
that the capital structure is unsustainable and the company will
have to restructure its balance sheet--would also lead to a lower
rating.

S&P could raise ratings if the company improves profitability by
regaining customers and no longer experiences operational missteps
with its rollout of SAP in North America, leading to positive cash
flow from operations that could be used to reduce the current ABL
balance.  

Corporate Credit Rating: CCC+/Negative/--
Business risk: Weak

   -- Country risk: Very low
   -- Industry risk: Low
   -- Competitive position: Weak

Financial risk: Highly leveraged

   -- Cash flow/Leverage: Highly leveraged
Anchor: b-
Modifiers

   -- Diversification/Portfolio effect: Neutral (no impact)
   -- Capital structure: Neutral (no impact)
   -- Financial policy: FS-6 (no additional impact)
   -- Liquidity: Less than Adequate (no impact)
   -- Management and governance: Fair (no impact)
   -- Comparable rating analysis: Neutral (no impact)
   -- S&P's simulated default scenario assumes a default in the
      first half of 2018 as the result of constrained liquidity
      from reduced profitability in the loss of customers,
      increased costs to implement SAP in North America, and
      limited availability under the ABL.
   -- S&P has valued the company as a going concern, using a 5.0x
      multiple of S&P's projected EBITDA based on the company's
      leading market position, but lacking negotiating power with
      customers and low margins.

Simulated default assumptions:

   -- Year of default: 2018
   -- EBITDA at emergence: EUR112
   -- Implied enterprise value (EV) multiple: 5.0x

Simplified waterfall:

   -- Net EV (after 7% administrative costs): EUR540 million
   -- First lien secured debt claims: EUR796 million
   -- Recovery expectation: 50-70% (upper half of range)
   -- Total value available to second lien debt claims: $0
   -- Second lien debt secured debt claims: E$203 million
   -- Recovery expectations: 0-10%

All debt amounts include six months of prepetition interest.

Downgraded
                                To                 From
CSM Bakery Solutions LLC
Corporate Credit Rating         CCC+/Negative/--   B/Negative/--
Senior Secured                  CCC+               B+
  Recovery Rating               3H                 2L
Senior Secured                 CCC-               CCC+
  Recovery Rating               6                  6


CVENT INC: Moody's Retains B3 CFR on $73MM Debt Increase
--------------------------------------------------------
Moody's Investors Service said the increase by $73 million or about
10% in the amount of debt, and similar reduction in cash equity,
used to fund the acquisition of Cvent, Inc. by affiliates of Vista
Equity Partners is a negative credit development; however, the B3
Corporate Family rating, B3-PD Probability of Default rating, B1
1st lien debt rating and Caa2 2nd lien debt rating, as well as the
stable ratings outlook, are unchanged at this time.


CVENT INC: S&P Assigns 'B-' CCR on Acquisition by Vista Equity
--------------------------------------------------------------
S&P Global Ratings said it assigned its 'B-' corporate credit
rating to Tyson Corner, Va.-based Cvent Inc.  The outlook is
stable.

At the same time, S&P assigned its 'B' issue-level rating and '2'
recovery rating to the company's $460 million first-lien credit
facility, which consists of a $40 million revolver (undrawn at
close), and a $420 million first-lien term loan.  The '2' recovery
rating indicates our expectation for substantial recovery (70%-90%;
lower end of the range) prospects for lenders in the event of a
payment default.  S&P also assigned its 'CCC' issue-level rating
and '6' recovery rating to the company's $258 million second-lien
term loan.  The '6' recovery rating indicates S&P's expectation for
negligible recovery (0%-10%) prospects for lenders in the event of
a payment default.

"Our 'B-' corporate credit rating primarily reflects the combined
entity's high leverage at transaction close, which we expect to
remain over 10x through the end of 2016 and into the first half of
2017, significant integration risk related to the Lanyon
combination, and particularly low EBITDA margins for a software
company," said S&P Global Ratings credit analyst Dee Banson.

Cvent's leading position in event management software, which will
be further bolstered by the contribution of Lanyon, along with a
track record of revenue growth over 20% annually and low customer
concentration partially offset these weaknesses.

The stable outlook reflects S&P's expectation that despite high
leverage and below average EBITDA margins, Cvent's leadership
position in software event planning and management will generate
strong top-line and EBITDA growth, and positive free cash flow over
the next year.



DAVID WINSTON: Voluntary Chapter 11 Case Summary
------------------------------------------------
Debtor: The David Winston Early Cabell Family
        Limited Partnership, Ltd.
        6875 Phelan Blvd
        Beaumont, TX 77706

Case No.: 16-10569

Chapter 11 Petition Date: November 22, 2016

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

Judge: Hon. Bill Parker

Debtor's Counsel: Brian A. Kilmer, Esq.
                  KILMER CROSBY & WALKER PLLC
                  1004 Prairie Street, Suite 300
                  Houston, TX 77002
                  Tel: 713-300-9662
                  Fax: 214-731-3117
                  E-mail: bkilmer@kcw-lawfirm.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by David W.E. Cabell, 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/txeb16-10569.pdf


DAYA MEDICALS: Receiver Violated Automatic Stay, Court Rules
------------------------------------------------------------
Judge Erik P. Kimball of the United States Bankruptcy Court for the
Southern District of Florida, West Palm Beach Division, granted in
part Daya Medicals, Inc.'s emergency motion for violation of
automatic stay and creditor misconduct against DKMC, Inc., Dana
Klein, Eric Stanco, Esq. and Scott D. Smiley, Esq.

In the Motion, Daya alleged that Scott D. Smiley, Esq., a state
court receiver appointed at the request of Eric Stanco, Esq. and
Mr. Stanco's clients, Dana Klein and DKMC, Inc., attempted to have
certain intellectual property, arguably the primary assets of
Daya's estate, assigned to Mr. Smiley without the Court's approval
and in violation of the automatic stay imposed by 11 U.S.C. section
362.  Daya further alleged that Mr. Stanco, on behalf of his
clients Dana Klein and DKMC, Inc., sent two emails also in an
attempt to have the intellectual property assigned to Mr. Smiley,
as receiver, without the Court's approval and in violation of the
automatic stay.  The debtor requested injunctive relief and
monetary relief in the form of damages and attorneys' fees and
costs.

Judge Kimball concluded that all of the intellectual property at
issue is, and for some time has been, the property of Daya.  Thus,
the judge held that any attempt to obtain control over such
intellectual property after the commencement of the bankruptcy case
constitutes a violation of the automatic stay.  The judge also
explained that even if all that was requested after the petition
date was that the debtor's principals execute formal assignments of
whatever right they might have in any of such intellectual
property, that effort, coupled with continued claims that all such
intellectual property was not in fact owned by Daya, had a negative
impact on Daya's property rights and such attempts constitute
violations of the automatic stay.

Judge Kimball, however, found that the two emails by Mr. Stanco,
pointed to by Daya, are not willful attempts to violate the
automatic stay.  The judge stated that there is no evidence that
Mr. Stanco knew of Daya's bankruptcy case at the time of the first
email, and the second email amounts to a legal discussion among
counsel with regard to the extent of the automatic stay.

On the other hand, Judge Kimball found that Mr. Smiley's repeated
efforts to obtain assignment of Daya's intellectual property to
himself, as receiver, even based on a mistaken belief that it was
owned by Daya's principals, represented a concerted effort to
obtain control of property of the estate without first seeking
relief from stay from the Court.  

"Mr. Smiley knew of the pendency of this case, knew that the Debtor
claimed ownership in the intellectual property, and nonetheless
sought to have the Debtor's principals execute personal assignments
of such intellectual property in the apparent belief that this
would provide him, as receiver, with control of those assets.  Mr.
Smiley should first have brought the issue before this Court,
asking this Court to rule whether the intellectual property was
part of the estate and, only if this Court determined that the
intellectual property was indeed owned by the Debtor's principals
and thus not protected by the stay, then sought assignments from
the individuals.  Mr. Smiley's intentional acts constitute willful
violations of the automatic stay under prevailing law," said Judge
Kimball.

Daya sought an award of damages, representing the cost of delay in
Daya's efforts to monetize the intellectual property.  However,
Judge Kimball explained that because the Court has delayed approval
of Daya's proposed licensing agreement to the confirmation hearing
in the case, even if Mr. Smiley's actions created friction for
Daya, his actions are not the actual cause of Daya's present
inability to finalize its licensing and related arrangements.
Nevertheless, the judge held that Daya is entitled to an award of
legal fees and costs incurred by the estate in rebuffing Mr.
Smiley's inappropriate efforts to obtain control over Daya's
intellectual property prior to filing the Motion, in preparation
and filing of the Motion, and in connection with the various
hearings on the Motion.  Judge Kimball thus ordered Mr. Smiley to
pay to the estate a sum equal to the reasonable legal fees and
expenses incurred by the estate on these matters.

As sanctions for willful violation of the automatic stay in the
case, Mr. Smiley was ordered to pay (a) to The Law Office of
Michael D. Moccia, P.A. the sum of $12,570.20, and (b) to
Saliwanchik, Lloyd & Eisenschenk, a Professional Association, the
sum of $5,071.62.

A full-text copy of Judge Kimball's November 14, 2016 memorandum
opinion and order is available at
http://bankrupt.com/misc/flsb15-24931-139.pdf

                    About Daya Medicals

Daya Medicals, Inc., filed a Chapter 11 Petition (Bankr. S.D. Fla.
Case No. 15-24931) on August 18, 2015, and is represented by
Michael D. Moccia, Esq., at Law Office of Michael D. Moccia, PA, in
Boca Raton, Florida.

Since 1996, the Debtor has been in the business of research and
development of intellectual property related to biomedical
technologies and licensing, such as intellectual property to
licenses in exchange for royalty payments.

At the Petition Date, it had $1 million to $10 million in estimated
assets and $1 million to $10 million in estimated liabilities.  The
case is assigned to Judge Erik P. Kimball.  The petition was signed
by Justin K. Daya, chief executive officer.


DE-TECH COLLISION: Can Use Cash Collateral on Interim Basis
-----------------------------------------------------------
Judge Thomas J. Tucker of the U.S. Bankruptcy Court for the Eastern
District of Michigan authorized De-Tech Collision, Inc. to use cash
collateral on an interim basis, pursuant to the Stipulation between
the Debtor and Lakeland West Capital XXVIII, LLC.

The Debtor is indebted to Lakeland West in the original principal
amount of $192,078.  The indebtedness is secured by all the
Debtor's assets.

The Debtor contended that it needed to use cash collateral to pay
normal operating expenses and to purchase inventory and supplies.

The Debtor was authorized to use cash collateral in the amount of
up to $77,482, until Dec. 14, 2016.

The Debtor was directed to remit monthly payments of $1,400 to
Lakeland West, beginning on Dec. 1, 2016.

Lakeland West was granted continuing and replacement security
interest and lien in all the Debtor's property.  Judge Tucker held
that in the event the adequate protection provided to Lakeland West
is insufficient to protect Lakeland West for the Debtor's use of
cash collateral, Lakeland West's claim will have priority over all
administrative expenses incurred in the Chapter 11 proceeding,
except for any quarterly fees and costs owed to the United States
Trustee.

The final hearing on the Debtor's use of cash collateral is
scheduled on Dec. 14, 2016, at 11:00 a.m.

A full-text copy of the Interim Order, dated Nov. 18, 2016 is
available at
http://bankrupt.com/misc/DeTechCollision2016_1655398tjt_16.pdf

                    About De-Tech Collision

De-Tech Collision, Inc., filed a chapter 11 petition (Bankr. E.D.
Mich. Case No. 16-55398) on Nov. 14, 2016.  The petition was signed
by Suzanne Chaaban, corporate officer.  The Debtor is represented
by Kimberly Ross Clayson, Esq., at Schneider Miller, P.C.  The
Debtor disclosed total assets at $1.07 million and total
liabilities at $230,650.


DELTA TECHNOLOGY: Centurion ZD CPA Raises Going Concern Doubt
-------------------------------------------------------------
Delta Technology Holdings Limited filed with the U.S. Securities
and Exchange Commission its annual report on Form 20-F, disclosing
a net loss of $6.75 million on $53.42 million of revenue for the
fiscal year ended June 30, 2016, compared to a net loss of $1.41
million on $202.01 million of revenue for the fiscal year ended
June 30, 2015.

Centurion ZD CPA Ltd. raises substantial doubt about the Company's
ability to continue as a going concern, citing that the Company has
an accumulated deficit, has suffered losses from operations and its
ability to continue as a going concern is dependent upon its
ability to develop additional sources of capital, generate income,
and ultimately, achieve profitable operations.

The Company's balance sheet at June 30, 2016, showed total assets
of $176.14 million, total liabilities of $132.64 million, and a
stockholders' equity of $45.50 million.

A full-text copy of the Company's Form 20-F is available at:
                
                   https://is.gd/NyOPr4

Headquartered in Zhenjiang City, China, Delta Technology Holdings
Limited is a fast-growing fine and specialty chemical manufacturer,
primarily engaged in manufacturing and selling of organic compound
including para-chlorotoluene ("PCT"), ortho-chlorotoluene ("OCT"),
PCT/OCT downstream products, unsaturated polyester resin ("UPR"),
maleic acid ("MA") and other by-product chemicals and distributing
fine and specialty chemicals to end application markets including
automotive, pharmaceutical, agrochemical, dye & pigments,
aerospace, ceramics, coating-printing, clean energy and food
additives.


DEVAL CORPORATION: Taps Smith Kane as Counsel
---------------------------------------------
DeVal Corporation seeks authorization from the U.S. Bankruptcy
Court for the Eastern District of Pennsylvania to employ Smith Kane
Holman, LLC as counsel.

The Debtor requires Smith Kane to:

   (a) advise the Debtor with respect to its rights and
       obligations pursuant to the Code;

   (b) assist the Debtor in the preparation of the schedules and
       statement of financial affairs and any amendments thereto;

   (c) represent the Debtor at its first meeting of creditors and
       any and all Rule 2004 examinations;

   (d) prepare any and all necessary applications, motions,
       answers, responses, orders, reports and any other type of
       pleading or document regarding any proceeding instituted
       by or against the Debtor with respect to this case;

   (e) assist the Debtor in the formulation and seek confirmation
       of a chapter 11 plan and disclosure materials; and

   (f) perform all other legal services for the Debtor which may
       be necessary or desirable in connection with this case.

Smith Kane will be paid at these hourly rates:

       Partners              $325-$375
       Associates            $225-$300
       Paralegals            $75-$100

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

In advance of the bankruptcy filing, on November 4, 2016, Smith
Kane received the sum of $5,000 and on November 8, 2016, Smith Kane
received $20,000 from the Debtor, which was applied as follows:

   -- $14,851.50 on account of pre-petition debt counseling
      services and costs,

   -- $1,717 for the chapter 11 filing fee; and

   -- $8,431.50 as a retainer for post-petition services to be
      provided to the Debtor as and when approved by this Court.

David B. Smith, of counsel at Smith Kane, assured the Court that
the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code and does not represent any
interest adverse to the Debtor and its estate.

Smith Kane can be reached at:

       David B. Smith, Esq.
       SMITH KANE HOLMAN, LLC
       112 Moores Road, Suite 300
       Malvern, PA 19355
       Tel: (610) 407-7217
       Fax: (610) 407-7218

                     About DeVal Corporation

DeVal Corporation filed a chapter 11 petition (Bankr. E.D. Pa. Case
No. 16-17922) on Nov, 11, 2016.  The petition was signed by Dominic
Durinzi, president.  The case is assigned to Judge Ashely M. Chan.
The Debtor estimated assets and liabilities at $1 million to $10
million at the time of the filing.  The Debtor is represented by
Robert M. Greenbaum, Esq. and David B. Smith, Esq., at Smith Kane
Holman, LLC.  


DIAMOND US: Moody's Lowers CFR to B2; Outlook Stable
----------------------------------------------------
Moody's Investors Service downgraded Diamond US Holdings LLC's
(Dealogic) Corporate Family rating to B2 from B1, Probability of
Default rating to B2-PD from B1-PD and senior secured credit
facility to B2 from B1.  The rating outlook is stable.

Moody's took these rating actions on Diamond US Holdings LLC:

Downgrades:

  Corporate Family Rating (Local Currency), to B2 from B1
  Probability of Default Rating, to B2-PD from B1-PD
  Senior Secured Bank Revolving Credit Facility, to B2 (LGD3) from

   B1 (LGD3)
  Senior Secured Bank Term Loan B, to B2 (LGD3) from B1 (LGD3)

Outlook:
  Outlook is Stable

                          RATINGS RATIONALE

The downgrade of Dealogic's CFR to B2 from B1 is driven by Moody's
projection for lower capital market originations to impact the
company's transaction revenues adversely, expectation for high
ongoing software development expenses that pressure profitability
and anticipation of debt to EBITDA remaining above 6 times.

All financial metrics cited reflect Moody's standard adjustments.
In addition, Moody's reduces Dealogic's EBITDA by the amount of
cash it invests in capitalized software costs.

Dealogic's B2 CFR reflects the company's small revenue scale, with
about $153 million for the 12 month period ended September 2016,
that is partially mitigated by a good market position providing two
widely used and well entrenched service lines to global capital
markets participants.  Revenues are highly recurring, with
subscriptions accounting for over 70% of total revenues, but are
also a function of capital markets activity, which may remain
pressured in 2017.  Competition drives a need to maintain software
development investments, which slows growth in profits and hampers
deleveraging.  That said, Moody's anticipates Dealogic will
maintain EBITA margins safely above 30%.  Other credit metrics are
expected to remain solid for the B2 rating category, including
EBITA to interest expense over 2 times and free cash flow to debt
around 7%.

Moody's expects acquisitions will continue to be a priority,
limiting the potential for debt reduction from free cash flow.  For
example, Dealogic invested $25 million or most of its 2015 free
cash flow toward the acquisition of A2 Access in 2015. Liquidity
from about $15 million of free cash flow, $30 million of cash and
the unused $50 million revolver due 2019 is considered good.

The stable ratings outlook reflects expectations for modest
subscription growth, solid profitability and good liquidity.  The
ratings could be downgraded if: 1) customer retention rates fall;
2) Moody's expects debt to EBITDA will be maintained above 6.5
times; or 3) liquidity is diminished.  An upgrade of the ratings is
possible if Moody's expects 1) sustained revenue growth; 2)
increased service line diversity; 3) greater free cash flow; and 4)
debt to EBITDA will decline towards and be sustained around 5
times.

The principal methodology used in these ratings was "Business and
Consumer Service Industry" published in October 2016.

Dealogic provides transaction data and analytics to the investment
banking industry as well as investor book building and event
workflow services.  Moody's expects revenues of about $160 million
in 2017.  Dealogic is controlled by The Carlyle Group.



DJO GLOBAL: S&P Affirms 'B-' CCR & Revises Outlook to Negative
--------------------------------------------------------------
S&P Global Ratings affirmed its 'B-' corporate credit rating on
Vista, Calif.-based DJO Global Inc. and revised the outlook to
negative from stable.

"DJO Global's performance this past quarter trailed our
expectations from both a sales and EBITDA perspective," said S&P
Global Ratings credit analyst Lucas Taylor.  S&P believes the
company will continue to underperform given its reduced guidance
for both revenue growth and EBITDA estimates.  The company now
expects revenue growth of 3% for 2016 compared with guidance on the
low end of 6%-8% and EBITDA growth of 4% compared with guidance of
8%-10%.  The prior growth estimates were heavily influenced by its
revamping of product lines and expectation that the business would
grow at the more optimistic rates after the close of its Empi
product line.  However, delays in Dr. Comfort sales within its
bracing and vascular segment along with slower-than-expected
international sales have contributed to both revenue and EBITDA
shortfalls, leading to reduced growth estimates.  As a result, S&P
believes cash flow will decrease by about $10 million, resulting in
a cash flow deficit of about $35 million in 2016 and $24 million in
2017.

DJO Global's business risk is characterized by low barriers to
entry in its product set that contributes to an extremely
competitive environment.  This dynamic leads to significant margin
pressure which is a key reason why DJO Global's profitability is
below average compared with companies exhibiting similar key credit
factors.  The company's position as a leader in providing products
for orthopedic and physical therapy clinics is not a significant
credit factor because it operates in such a difficult market.  To
improve its positioning in the market, the company is stepping up
technological innovation within many of its products, using capital
expenditures to reengineer existing lines and subsequently offering
items with more value to end customers and better margins.  If
these efforts succeed, the company could improve its offerings and
maintain its status as a prime vendor for group purchasing
organizations (GPOs) and other customer sets. However, S&P expects
the company will continue to compete on price.

The negative outlook on DJO Global reflects the company's reduced
guidance and the potential for sustained cash flow deficits.  This
could lead to weaker liquidity and make it more difficult for the
company to meet all its obligations.

"We could consider a downgrade if DJO Global's efforts to expand
sales in each of its operating segments falls flat, preceded by a
failure to successfully launch higher-margin products that results
in a margin contraction of about 100 basis points to 19%.  We
estimate that such a margin decline would result in a cash flow
deficit of about $60 million.  Factors that may lead to this
outcome may include greater competition from lower-cost foreign
companies that could continue to weigh on performance and displace
a large part of the portfolio that is viewed as commoditized.  In
addition, shortfalls in new product introductions could contribute
to lower revenue, placing further pressure on cash flow and
exacerbate its leverage situation.  This would be significantly
below our base-case assumption for a fiscal 2016 revenue increase
of 2.7% and 5.9% for 2017 that we estimate would be about the
industry average.  This could lead to a liquidity crisis and
present an unsustainable capital structure once the revolver loses
capacity," S&P noted.

If DJO Global's product introductions succeed and enhances its
current portfolio such that margins improved to around 21%, S&P
would consider cash flows as minimally positive, bringing some
stability to the rating.  Furthermore, if the company's rollouts of
this improved product base succeed, it could pare its capital
expenditures closer to historical levels of $40 million to $50
million and achieve a result commensurate with a stable outlook.
In such as a scenario, the company would increase its share with
GPOs as well as the number of accounts where it operates as the
prime vendor along with an expansion in its international sales.



DOLPHIN DIGITAL: Needs More Time to File Sept. 30 Form 10-Q
-----------------------------------------------------------
Dolphin Digital Media, Inc. filed with the Securities and Exchange
Commission a Form 12b-25 notifying the delay in the filing of its
quarterly report on Form 10-Q for the period ended Sept. 30, 2016.
According to the Company, the Form 10-Q could not be filed within
the prescribed time because additional time is required by its
management and auditors to prepare certain financial information to
be included in that report.

                    About Dolphin Digital

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

Dolphin Digital reported a net loss of $4.05 million on $2.99
million of total revenue for the year ended Dec. 31, 2015, compared
to a net loss of $1.87 million on $2.07 million of total revenue
for the year ended Dec. 31, 2014.

As of June 30, 2016, Dolphin Digital had $23.11 million in total
assets, $28.49 million in total liabilities and a total
stockholders' deficit of $5.38 million.

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


ECOSPHERE TECHNOLOGIES: Delays Filing of Sept. 30 Form 10-Q
-----------------------------------------------------------
Ecosphere Technologies, Inc., filed with the Securities and
Exchange Commission a Form 12b-25 notifying the delay in the filing
of its quarterly report on Form 10-Q for the period ended Sept. 30,
2016.  The Company said it was unable to file the Form 10-Q within
the required time frame due to a delay in completing certain
accounting adjustments.  The Company expects to complete the report
within five calendar days, and will file the report once it is
complete.

                  About Ecosphere Technologies

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

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

As of June 30, 2016, Ecosphere had $3.03 million in total assets,
$14.2 million in total liabilities, $3.92 million in total
redeemable convertible cumulative preferred stock and a total
deficit of $15.08 million.

Salberg & Company, P.A., in Boca Raton, Florida, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2015, citing that the Company reported
a net loss of $23.07 million and $11.5 million in 2015 and 2014,
respectively, and cash used in operating activities of $1.76
million and $4.55 million in 2015 and 2014, respectively.  At
Dec. 31, 2015, the Company had a working capital deficiency,
stockholders' deficit and accumulated deficit of $9.32 million,
$12.2 million and $132 million, respectively.  These matters raise
substantial doubt about the Company's ability to continue as a
going concern.


EFRON DORADO: PRAPI Entitled to Relief From Stay, Court Rules
-------------------------------------------------------------
Judge Mildred Caban Flores of the United States Bankruptcy Court
for the District of Puerto Rico denied Efron Dorado SE's motion for
stay pending appeal pursuant to Fed. R. Bankr. P. 8007.

On January 20, 2016, Efron filed for bankruptcy relief under the
provisions of Chapter 11 of the Bankruptcy Code.  Efron designated
its case as a single asset real estate case as defined in 11 U.S.C.
section 101(51B).  Creditor PR Asset Portfolio 2013-1 International
SUB I, LLC,  (PRAPI) filed Proof of Claim No. 13 asserting a claim
in the amount of $13,347,009.04 and secured by Efron's shopping
mall known as Paseo del Plata Shopping Center located in Dorado,
Puerto Rico.

On June 17, 2016, PRAPI filed a motion for relief from the
automatic stay with respect to the Shopping Center premised on
Efron's failure to adequately protect PRAPI's interest in the
Shopping Center under section 362(d)(1); Efron's lack of both
necessity and equity with respect to the Shopping Center under
section 362(d)(2); and the SARE provisions under section
362(d)(3).

On July 12, 2016, Efron opposed alleging that it did not qualify as
a SARE case because its real properties are segregated in three
separate parcels.  That same day, Efron eliminated its SARE
designation from the petition.

PRAPI filed a reply stating that Efron had conducted itself as a
SARE case since its inception of the bankruptcy filing and that it
had continued to reaffirm its position as such throughout the case.
Counsel for PRAPI brought the SARE status to the Court's attention
at the status conference, and highlighted that the time-period
under section 362(d)(3) had lapsed without Efron having filed a
plan of reorganization nor making interest payments to PRAPI.

The Court terminated the stay with respect to the Shopping Center,
pursuant to section 362(d)(3).  After the ruling was rendered,
Efron argued for the first time at the hearing that it was entitled
to an additional 30 days to file a plan or start making payments to
PRAPI.  The Court ruled that the argument had been waived and that
the amended voluntary petition had not changed its true status.
Subsequently, Efron filed a notice of appeal and requested a stay
pending an appeal.

Efron argued that, on appeal, it is likely to succeed on the merits
because: a) the case is not a SARE case; b) it has a statutory
right to amend the SARE designation in its petition upon perceiving
an error in its SARE designation; and c) the Court must allow Efron
to file a plan within the 30-day period from the stay-relief
hearing, pursuant to 11 U.S.C. section 362(d)(3).

Judge Flores held that Efron was subject to section 362(d)(3)'s
provisions since its self-designation as a SARE case on January 20,
2016, the date the bankruptcy was commenced.  The judge stated that
Efron should not be able to shed its SARE designation and block a
stay-relief motion and acquire more time to act when it is clear
from the petition date that it had only one income producing real
property.  For this reason, Judge Flores disallowed the amendment.


Efron argued that it has the right to a new 30-day period to comply
with the predicates of section 362(d)(3)(A)-(B).  Judge Flores,
however, found that Efron waited to present this new defense after
the Court terminated the stay in favor of PRAPI and, thus, failed
to put the Court or PRAPI on notice. For this reason, Judge Flores
considered this argument waived by Efron.

Further, Judge Flores found that Efron is judicially estopped from
obtaining this outcome.  The judge stated that Efron's amended
petition does not change the nature of its designation and it is
prohibited from changing its position according to the exigencies
of the moment.

Judge Flores concluded that PRAPI is entitled to relief from the
automatic stay with respect to the Shopping Center -- Efron's real
estate property whence its income is substantially derived.  Judge
Flores agreed with PRAPI that as of the petition date, Efron had
correctly designated itself as a SARE case, and that Efron's
amended voluntary petition did not change its status as a SARE
case.

Insomuch as Efron failed to meet the burden of demonstrating
likelihood of success on the merits, Judge Flores denied Efron's
request for a stay of the order granting PRAPI relief under section
362(d)(3).

A full-text copy of Judge Flores' November 17, 2016 opinion and
order is available at:

       http://bankrupt.com/misc/prb16-00283-212.pdf

                     About Efron Dorado Se

Efron Dorado Se, based in San Juan, Puerto Rico, filed for Chapter
11 bankruptcy protection (Bankr. D.P.R. Case No. 16-00283) on Jan.
20, 2016.  The petition was signed by David Efron, partner.

Charles Alfred Cuprill, Esq., at Charles A Cuprill, PSC Law
Office, serves as its bankruptcy counsel.

In its petition, the Debtor listed total assets of $33.2 million
and total debt of $15.2 million.  According to the schedules, the
Debtor owns the shopping mall known as Paseo Del Plata Shopping
Center located in Dorado, Puerto Rico; a parcel of land consisting
of 80 Cuerdas, identified as Quintas De Dorado; and a parcel of
land consisting of 30 Cuerdas known as Hernandez Farm.


ELWOOD ENERGY: Moody's Affirms Ba3 Rating on Sr. Sec. Bonds Due 202
-------------------------------------------------------------------
Moody's Investors Service affirmed Elwood Energy LLC's (Elwood or
Project) Ba3 rating on its senior secured bonds due 2026.  The
rating outlook is positive.

                         RATINGS RATIONALE

The affirmation of Elwood's Ba3 rating takes into consideration the
closing of the sale of Dynegy Inc's (CFR B2 stable) 50% ownership
in Elwood to J-POWER USA Generation, L.P. a 50/50 joint venture
between John Hancock Life Insurance Company and J-POWER USA
Investment Co., Ltd.  The transaction increases Electric Power
Development Co., Ltd (JPOWER, A1 stable), indirect, net ownership
stake in Elwood to 50%.  The purchase price totaled approximately
$173 million resulting in an implied enterprise value of around
$500 million.  Moody's views positively both JPOWER's financial
strength and their additional investment in Elwood that creates an
economic incentive for the sponsor to support the project if
necessary.

The Ba3 rating is also supported by the project's contracts on two
units through August 2017, low leverage of $100/kw, and known PJM
capacity prices through May 2020 that should enable the Project
achieve debt service coverage ratio (DSCR) well above 2.0 times in
most years through the known capacity price period.  Additional
strengths include proven equipment and project finance
protections.

The Ba3 rating further recognizes the project's six-year merchant
tail starting in June 2020, weak competitive position given its
high heat rate, and exposure to volatile capacity prices.
Additional challenges include Elwood's rising debt service through
2021, mixed operational performance in recent cold winters, and
major maintenance deposit schedule that creates greater uncertainty
regarding the availability of major maintenance funds after 2020.

Additionally, Moody's understands that management has proposed to
decrease the project's debt service reserve (DSRA) requirement to
six-months from twelve-months.  While the contemplated is credit
negative, this proposed change in the DSRA size will not, in and of
itself, result in a rating downgrade of Elwood given the project's
speculative grade, Ba3 rating and the project's credit strengths
cited above.

The positive outlook reflects the benefits of the financially
stronger sponsor group and the potential for continued high
capacity prices in the next PJM capacity auction covering the
2020/2021 period that should ensure cash flow to comfortably
service Elwood's peak debt service in 2021.  Moody's recognizes
that the last two PJM capacity auctions covering the 2018/2019 and
2019/2020 periods resulted in robust capacity prices above
$200/MW-day for the ComEd capacity zone.

The Project's rating could be upgraded if the project substantially
clears its capacity at prices well above $150/MW-day in the next
PJM capacity covering the 2020/2021 period.  Elwood's rating could
also improve if it is able to enter into new long-term contracts
with investment grade off-takers that result in annual DSCRs being
at or above 1.2 times through debt maturity based solely on fully
contracted cash flows.

Given the positive outlook, Elwood's rating is unlikely to decline.
However, Elwood's rating could decline if PJM capacity prices
decline below materially below $150/MW-day or if Elwood incurs
major operational problems.

Elwood Energy LLC owns a 1,508 megawatt (MW) peaking facility
consisting of nine natural gas-fired, simple cycle units, located
in Elwood, Illinois (about 50 miles southwest of Chicago).  For
seven out of nine units, Elwood sells its energy and capacity into
the PJM market.  For the remaining two units, the project sells to
Exelon Generation Company, LLC (ExGen: Baa2, stable) under a
contract that expires in August 2017.  Elwood's bonds mature in
July 2026.

Elwood is 100% indirectly owned by J-POWER USA Generation, L.P.
(J-Power Gen), which is a 50/50 joint venture between John Hancock
Life Insurance Company and J-POWER USA Investment Co., Ltd.

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



ENERGY FUTURE: Bankr. Court Suggests Remand of Lienholders' Suit
----------------------------------------------------------------
Judge Christopher S. Sontchi of the United States Bankruptcy Court
for the District of Delaware suggested that the district court
remand to the bankruptcy court the adversary proceeding captioned
DELAWARE TRUST COMPANY, as TCEH First Lien Indenture Trustee,
Plaintiff, v. WILMINGTON TRUST, N.A., as First Lien Collateral
Agent and First Lien Administrative Agent, Defendant, v. MORGAN
STANLEY CAPITAL GROUP INC., J. ARON & COMPANY, and TITAN INVESTMENT
HOLDINGS LP, Intervenors, Adv. Pro. No. 15-51239(CSS)(Bankr. D.
Del.), for further proceedings while retaining jurisdiction.

Delaware Trust Company, as TCEH First Lien Indenture Trustee, filed
a motion to partially vacate judgment pursuant to Fed. R. Bankr. P.
9024 and Fed. R. Civ. P. 60(b).  The motion relates to the
bankruptcy court's opinion dated March 11, 2016, amended order, and
judgment in which the court held that plan distributions and
adequate protection payments distributed per the cash collateral
order would be allocated between the first lien creditors on a pro
rata basis based on amounts owed as of the petition date.  The
bankruptcy court opinion relied, in part, on the provisions of the
debtors' plan of reorganization (the "First Plan").  Delaware Trust
Company filed a notice of appeal.  The appeal has been proceeding
in the United States District Court for the District of Delaware.
To date, the district court has not yet ruled on the merits of the
appeal.

At the time of the bankruptcy court opinion, the First Plan was
confirmed but had not yet gone effective.  Shortly after the
bankruptcy court issued its opinion, certain conditions precedent
to consummation of the First Plan were not expected to be
satisfied, and thus, the First Plan became null and void.
Thereafter, the debtors filed a new plan (the "New Plan"), which
was later confirmed and consummated.  Although the First Plan and
the New Plan contained similar provisions, the two plans were
wholly separate and distinct.  Thus, the bankruptcy court opinion
was premised on a voided plan and yet an appeal on the bankruptcy
court opinion and related order remained pending.

As the bankruptcy court opinion was premised on the provisions of
the First Plan, which is now null and void, and as the terms of the
New Plan are different, Judge Sontchi found that the intercreditor
dispute would need to be examined under the provisions of the New
Plan.  Thus, Judge Sontchi, pursuant to Fed. R. Bankr. P.
8008(a)(3) found that Delaware Trust's motion raises substantial
issues and suggested that the district court remand the case to the
bankruptcy court for further proceedings while retaining
jurisdiction (unless the district court expressly dismisses the
appeal).

The bankruptcy case is In re: ENERGY FUTURE HOLDINGS CORP., et al.,
Debtors, Case No. 14-10979(CSS)(Jointly Administered)(Bankr. D.
Del.).

A full-text copy of Judge Sontchi's November 17, 2016 memorandum
order is available at
http://bankrupt.com/misc/deb14-10979-10204.pdf

                        About Energy Future

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

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

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

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

The Debtors' cases have been assigned to Judge Christopher S.
Sontchi (CSS).

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

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

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

Wilmington Savings Fund Society, FSB, the successor trustee for
The second-lien noteholders owed about $1.6 billion, is represented
by Ashby & Geddes, P.A.'s William P. Bowden, Esq., and Gregory A.
Taylor, Esq., and Brown Rudnick LLP's Edward S. Weisfelner, Esq.,
Jeffrey L. Jonas, Esq., Andrew P. Strehle, Esq., Jeremy B. Coffey,
Esq., and Howard L. Siegel, Esq.  An Official Committee of
Unsecured Creditors has been appointed in the case. The Committee
represents the interests of the unsecured creditors of only of
Energy Future Competitive Holdings Company LLC; EFCH's direct
subsidiary, Texas Competitive Electric Holdings Company LLC; and
EFH Corporate Services Company, and of no other debtors.  The
Committee has selected Morrison & Foerster LLP and Polsinelli PC
for representation in this high-profile energy restructuring.  The
lawyers working on the case are James M. Peck, Esq., Brett H.
Miller, Esq., and Lorenzo Marinuzzi, Esq., at Morrison & Foerster
LLP; and Christopher A. Ward, Esq., Justin K. Edelson, Esq., Shanti
M. Katona, Esq., and Edward Fox, Esq., at Polsinelli PC.

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

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

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

On Aug. 5, 2016, the Debtors filed a Third Amended Joint Plan.
They filed another Third Amended Joint Plan on Aug. 23.

On Aug. 27, 2016, Judge Sontchi confirmed the Chapter 11 exit
plans of two of Energy Future Holdings Corp.'s subsidiaries, power
generator Luminant and retail electricity provider TXU Energy Inc.

On Sept. 21, 2016, the Debtors filed the E-Side Plan and the
Disclosure Statement for the Fourth Amended Joint Plan of
Reorganization of Energy Future Holdings Corp., et al., Pursuant to
Chapter 11 of the Bankruptcy Code as it Applies to the EFH Debtors
and EFIH Debtors.


ENERGY FUTURE: Court Issues Opinion on Delaware Trust's Motion
--------------------------------------------------------------
BankruptcyData.com reported that the U.S. Bankruptcy Court issued
an opinion related to Delaware Trust Company's motion to partially
vacate judgment of the Court's previous opinion ruling that Plan
distributions and adequate protection payments distributed per the
cash collateral order would be allocated between the first lien
creditors on a pro rata basis (based on amounts owed as of the
petition date). The opinion notes, "To date, the District Court has
not yet ruled on the merits of the appeal. At the time of the
Bankruptcy Court Opinion, the First Plan was confirmed but had not
yet gone effective. Shortly after the Court issued its Bankruptcy
Court Opinion, certain conditions precedent to consummation of the
First Plan were not expected to be satisfied, and thus, the First
Plan became null and void. Thereafter, the Debtors filed a new plan
(D.I. 8355) (as amended, the 'New Plan'), which was later confirmed
and consummated (see D.I. 9421 and 9742). Although the First Plan
and the New Plan contain similar provisions, the two plans are
wholly separate and distinct. Thus, the Bankruptcy Court Opinion is
premised on a voided plan and yet an appeal to the Bankruptcy Court
Opinion and related order remains pending. In the case sub judice,
as the Bankruptcy Court Opinion was premised on the provisions of
the First Plan, which is now null and void, and as the terms of the
New Plan are different, the Court finds that the intercreditor
dispute would need to be examined under the provisions of the New
Plan. Thus, the Court, pursuant to Rule 8008(a)(3), finds that the
Motion raises substantial issues and suggests that the District
Court remand the case to the Bankruptcy Court for further
proceedings while retaining jurisdiction (unless the District Court
expressly dismisses the appeal)."

                       About Energy Future

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

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

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

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

The Debtors' cases have been assigned to Judge Christopher S.
Sontchi (CSS).

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

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

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

Wilmington Savings Fund Society, FSB, the successor trustee for
The second-lien noteholders owed about $1.6 billion, is represented
by Ashby & Geddes, P.A.'s William P. Bowden, Esq., and Gregory A.
Taylor, Esq., and Brown Rudnick LLP's Edward S. Weisfelner, Esq.,
Jeffrey L. Jonas, Esq., Andrew P. Strehle, Esq., Jeremy B. Coffey,
Esq., and Howard L. Siegel, Esq.  An Official Committee of
Unsecured Creditors has been appointed in the case. The Committee
represents the interests of the unsecured creditors of only of
Energy Future Competitive Holdings Company LLC; EFCH's direct
subsidiary, Texas Competitive Electric Holdings Company LLC; and
EFH Corporate Services Company, and of no other debtors.  The
Committee has selected Morrison & Foerster LLP and Polsinelli PC
for representation in this high-profile energy restructuring.  The
lawyers working on the case are James M. Peck, Esq., Brett H.
Miller, Esq., and Lorenzo Marinuzzi, Esq., at Morrison & Foerster
LLP; and Christopher A. Ward, Esq., Justin K. Edelson, Esq.,
Shanti M. Katona, Esq., and Edward Fox, Esq., at Polsinelli PC.

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

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

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

On Aug. 5, 2016, the Debtors filed a Third Amended Joint Plan.
They filed another Third Amended Joint Plan on Aug. 23.

On Aug. 27, 2016, Judge Sontchi confirmed the Chapter 11 exit
plans of two of Energy Future Holdings Corp.'s subsidiaries, power
generator Luminant and retail electricity provider TXU Energy Inc.

On Sept. 21, 2016, the Debtors filed the E-Side Plan and the
Disclosure Statement for the Fourth Amended Joint Plan of
Reorganization of Energy Future Holdings Corp., et al., Pursuant to
Chapter 11 of the Bankruptcy Code as it Applies to the EFH Debtors
and EFIH Debtors.


ENERGY TRANSFER: Moody's Affirms Ba1 Rating on Jr. Sub. Bond
------------------------------------------------------------
Moody's Investors Service affirmed Sunoco Logistics Partners
Operations L.P.'s (Sunoco Logistics Partners L.P. (SXL) backed)
Baa3 senior unsecured rating, its P-3 commercial paper rating and
changed its outlook to negative from stable.  Moody's affirmed
Energy Transfer Partners, L. P.'s (ETP) Baa3 senior unsecured
rating, its P-3 commercial paper rating and its negative outlook.
The change in SXL's outlook to negative reflects its November 21
announcement that it will acquire ETP in an all-units transaction
and assume ETP's debt.  The proposed transaction will have no
impact at this time on Energy Transfer Equity, L.P.'s (ETE) Ba2
Corporate Family Rating, its Ba2 senior secured debt rating or its
negative outlook.

"While the roll up of ETP into SXL will re-set the ETP distribution
at a reduced level, immediately restoring positive distribution
coverage to the combined entity, and will add to the simplification
of the overall Energy Transfer complex, consolidated leverage
remains excessive, a function of ETP's weak 2016 EBITDA growth,"
commented Andrew Brooks, Moody's Vice President.  "Presuming
SXL/ETP can successfully bring projects currently under
construction into commercial service in the 2017-2018 time frame,
Moody's expects leverage to decline to levels more appropriate for
the Baa3 rating."

Affirmations:

Issuer: Energy Transfer Partners, L.P.
  Junior Subordinated Regular Bond/Debentures, Affirmed Ba1
  Senior Unsecured Commercial Paper, Affirmed P-3
  Senior Unsecured Regular Bond/Debentures, Affirmed Baa3
  Senior Unsecured Shelf, Affirmed (P)Baa3

Outlook Actions:

Issuer: Energy Transfer Partners, L.P.
  Outlook, Remains Negative

Issuer: Sunoco Logistics Partners Operations L.P.
  Multiple Seniority Shelf, Affirmed (P)Baa3
  Multiple Seniority Shelf, Affirmed (P)Baa3
  Senior Unsecured Commercial Paper, Affirmed P-3
  Senior Unsecured Regular Bond/Debentures, Affirmed Baa3

Outlook Actions:

Issuer: Sunoco Logistics Partners Operations L.P.
  Outlook, Changed To Negative From Stable

                         RATINGS RATIONALE

SXL's Baa3 rating, consolidated for ETP, reflects its scale, which
will rank among the largest publicly traded midstream master
limited partnerships (MLP) in terms of its size, geographical reach
and the operational diversification of its businesses.  Their
combined $68 billion midstream energy infrastructure asset base
generates a largely fee-based cash flow stream, generating $4.2
billion of nine-month 2016 EBITDA.  SXL's 2016 debt leverage, which
Moody's sees approximating 4.8x, however, will increase to over
5.5x with the assumption of ETP's debt before falling towards a
projected 5x in 2017, largely on restored EBITDA growth at ETP.
While SXL's nine-month stand-alone EBITDA increased 8%, the 3.5
times larger ETP's nine-month EBITDA has fallen 7%.

ETP's reduced distributable cash flow has pressured 2016's
distribution coverage, dropping it to 0.87x at Sept. 30.  However,
the re-set of ETP's limited partnership distribution reflecting the
acquisition's 1.5x exchange ratio will effectively reduce ETP's
unitholder distribution by 28%, immediately restoring distribution
coverage to approximately 1.1x for the combined entity.  Moreover,
the transaction alleviates for now the necessity of future
Incentive Distribution Rights (IDRs) waivers from ETE, or potential
distribution cuts, while preserving those options if necessary to
support SXL in the future.  Moody's believes that SXL/ETP continues
to have an additional array of options available to alleviate its
excessively leveraged balance sheet beyond achieving projected
EBITDA growth to reduce leverage should additional measures be
required.

SXL and ETP, under the aegis of ETE, have evidenced a history of
consistent support for their investment grade ratings.  However,
the ETE entities operate in a stressed energy environment, which
elevates execution risk, particularly when deleveraging is more
dependent on EBITDA growth versus absolute debt reduction.

SXL/ETP is projecting good liquidity into 2017.  At Sept. 30, ETP
reported $377 million of balance sheet cash.  ETP's $3.75 billion
revolving credit facility, with a November 2019 scheduled maturity,
had $1.58 billion borrowed at September 30 while SXL's $2.5 billion
revolving credit, with a March 2020 scheduled maturity, was
borrowed in the amount of $622 million.  Growth capital spending
will look to several alternative sources to supplement its
financing including joint ventures, limited asset sales and asset
level project financing.  Both SXL and ETP have made use of their
respective at-the-market (ATM) equity programs as source of funding
for organic growth projects, under which SXL issued $744 million
through September 30 and ETP $646 million.  The pending sell down
of 49% of SXL/ETP's combined 75% stake in its Bakken pipeline
project will yield a $2.0 billion cash payment once final
permitting is received, which is available for debt reduction.

SXL's negative outlook reflects the elevated leverage resulting
from the assumption of ETP's outstanding debt.  Its outlook could
be restored to stable provided it has taken demonstrable actions to
reduce leverage below 5x, while maintaining distribution coverage
exceeding 1x.  SXL's ratings could be downgraded if it fails to
achieve sustained debt leverage approaching 4.5x.

SXL's rating could also be lowered in the medium-term if major
projects and cash flows are significantly delayed, if Moody's deems
SXL's business risk profile to have meaningfully deteriorated,
should financing pressure materialize further delaying the
deleveraging process or if ETE's credit profile weakens materially.
Reducing debt leverage on a sustained basis to the vicinity of 4x
could prompt consideration of an upgrade. SXL remains exposed to
increased consolidated group leverage, and could be negatively
impacted should ETE's debt service and distribution needs
materially increase.

The principal methodology used in these ratings was Global
Midstream Energy published in December 2010.

Sunoco Logistics Partners Operations L.P. is the principal
operating subsidiary through which Sunoco Logistics Partners L.P
(SXL) conducts its operations.  SXL is a publicly traded master
limited partnership (MLP) headquartered in Newtown Square,
Pennsylvania.  SXL's general partner, Energy Transfer Partners,
L.P. (ETP), is headquartered in Dallas, Texas.

Energy Transfer Equity, L.P. is headquartered in Dallas, Texas.
Through its subsidiaries, principally ETP, a publicly traded MLP in
which it holds the general partnership interest, owns and operates
a broad array of midstream energy assets.


ENERGY XXI: Court OKs 2nd Supplement to 3rd Amended Plan Outline
----------------------------------------------------------------
BankruptcyData.com reported that the U.S. Bankruptcy Court approved
Energy XXI's Second Supplement to the Third Amended Disclosure
Statement.  The Supplement sets forth modifications to the Second
Amended Joint Chapter 11 Plan.  According to documents filed with
the Court, "The key modifications to the Plan include: An increase
of the General Unsecured Claim Distribution from $850,000 to
$1,470,000, resulting in an increase in the estimated percentage
recoveries for holders of Class 11 General Unsecured Claims from
approximately 4.3% to approximately 7.5%. The elimination of the
EGC Intercompany Note Trust. All disputes that were formerly placed
in the EGC Intercompany Note Trust, or the 'EGC Intercompany Note
Dispute,' are now settled pursuant to the Plan. Each holder of an
EGC Unsecured Notes Claim (other than EGC) shall receive under the
Plan such holder's pro rata share of (a) 12% of the New Equity
subject to dilution by the Management Incentive Plan and the New
Warrant Package and (b) the EGC New Warrant Package. EGC shall
receive no distribution on account of the EGC Repurchased Bonds.
Each holder of an EPL Unsecured Notes Claim (other than EGC) shall
receive such holder's pro rata share of (a) 4% of the New Equity
under the Plan, subject to dilution by the Management Incentive
Plan and the New Warrant Package and (b) the EPL New Warrant
Package. EGC shall receive no distribution on account of the EPL
Repurchased Bonds. The New Warrant Agreement that governs the New
Warrant Package shall (i) provide for anti-dilution adjustments (in
addition to those included in the definitions of EGC New Warrant
Package and EPL New Warrant Package) solely for spin-offs and other
asset distributions and extraordinary cash distributions, and (ii)
provide that, in connection with a merger or similar sale of New
Parent, each warrant will become exercisable for such cash, stock,
securities or other assets or property as would have been payable
in such sale transaction with respect to the New Parent securities
issuable upon exercise of such warrant if such warrant had been
exercised immediately prior to the occurrence of such transaction.
A Cash distribution to holders of EXXI 3.0% Senior Convertible
Notes Claims of $2,000,000, instead of equity in the Reorganized
Debtors, and a corresponding increase in the estimated percentage
recoveries for holders of Class 9 EXXI 3.0% Senior Convertible
Notes Claims of approximately 0.5."

                       About Energy XXI Ltd

Energy XXI Ltd (OTCMKTS: EXXIQ) was incorporated in Bermuda on July
25, 2005.  With its principal operating subsidiary headquartered in
Houston, Texas, Energy XXI is engaged in the acquisition,
exploration, development and operation of oil and natural gas
properties onshore in Louisiana and Texas and in the Gulf of Mexico
Shelf.

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

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

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

Energy XXI scheduled $95,979,564.02 in total assets and
$2,749,509,954.98 in total liabilities as of the petition date.

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

Wilmer Cutler Pickering Hale and Dorr LLP represent an ad hoc group
of certain holders and investment advisors and managers for holders
of obligations arising from the 8.25% Senior Notes due 2018 issued
pursuant to that certain Indenture, dated as of Feb. 14, 2011, by
and among EPL Oil & Gas, Inc., certain of EPL's subsidiaries, as
guarantors, and U.S. Bank National Association, as trustee.

The Office of the U.S. Trustee on April 26, 2016, appointed five
creditors of Energy XXI Ltd. to serve on the official committee of
unsecured creditors.  The Committee retains Heller, Draper,
Patrick, Horn & Dabney LLC as its co-counsel, Latham & Watkins LLP
as its co-counsel, and FTI Consulting, Inc. as its financial
advisor.

The U.S. Trustee also appointed an Official Committee of Equity
Security Holders.  The Equity Committee retained Hoover Slovacek
LLP as its legal counsel, and Williams Barristers & Attorneys, as
Bermuda counsel.

The Ad Hoc Committee of Second Lien Noteholders is represented in
the case by Robert Bernard Bruner --
bob.bruner@nortonrosefulbright.com -- at Norton Rose Fulbright.


EXPERIMENTAL MACHINE: Wants to Use M&T Bank Cash Collateral
-----------------------------------------------------------
Experimental Machine, Inc., asks the U.S. Bankruptcy Court for the
District of Maryland for authorization to use cash collateral.

The Debtor is indebted to M&T Bank, in the amount of approximately
$320,000, pursuant to three credit facilities.  M&T Bank has a
security interest in the Debtor's cash collateral, as well as all
the Debtor's assets.

The Debtor tells the Court that in order for it to continue its
business activity in an effort to achieve successful
reorganization, the Debtor must be permitted to use cash collateral
in its ordinary business operations.  The Debtor further tells the
Court that it currently has no present alternative borrowing source
from which it could secure additional funding to operate its
business.

The Debtor's proposed one-month Budget, for the period Nov. 18,
2016 to Dec. 17, 2016, projects total disbursements in the amount
of $173,650.

The Debtor proposes to grant M&T Bank with replacement liens in and
to all property of the estate of the kind presently securing the
indebtedness owed to M&T Bank and any post-petition collateral
purchased or acquired with the cash collateral of M&T Bank.

A full-text copy of the Debtor's Motion, dated Nov. 18, 2016, is
available at
http://bankrupt.com/misc/ExperimentalMachine2016_1625294_9.pdf

A full-text copy of the Debtor's proposed Budget, dated Nov. 18,
2016, is available at
http://bankrupt.com/misc/ExperimentalMachine2016_1625294_9_1.pdf

Experimental Machine, Inc., is represented by:

          Michael S. Myers, Esq.
          SCARLETT, CROLL & MYERS, P.A.
          201 N. Charles Street, Suite 600
          Baltimore, MD 21201
          Telephone: (410) 468-3100
          E-mail: mmyers@ScarlettCroll.com

                   About Experimental Machine

Experimental Machine, Inc., filed a chapter 11 petition (Bankr. D.
Md. Case No. 16-25294) on Nov. 18, 2016.  The Debtor is represented
by Michael S. Myers, Esq., at Scarlett, Croll & Myers, P.A.



EXQUISITE DESIGNS: 5th Cir. Upholds Lifting of Stay for First Bank
------------------------------------------------------------------
The United States Court of Appeals for the Fifth Circuit reversed
the district court's dismissal of Brad Jones' appeal based on
untimeliness, and affirmed the bankruptcy court's denial of Jones'
motion to vacate an order lifting the automatic stay imposed in the
Chapter 11 case of Exquisite Designs by Castlerock and Company,
Incorporated.

In November 2012, the Debtor filed for Chapter 11 bankruptcy.
Appellant Brad Jones is the sole shareholder, president, and
director of Exquisite.  Appellee First Bank holds promissory notes
executed by Exquisite and secured by deed of trust liens on seven
properties (the "Mortgaged Properties").  In September 2013, the
bankruptcy court confirmed a plan of reorganization.  As part of
the confirmed plan, Exquisite was to continue payments to First
Bank, and First Bank "retain[ed] all deeds of trust liens and
security interests in the property."

In September 2014, the bankruptcy court granted a motion to convert
the proceedings to a Chapter 7 bankruptcy, and a trustee was
appointed.

On February 7, 2015, First Bank moved for relief from the automatic
stay in order to foreclose on the Mortgaged Properties.  On March
2, 2015, the bankruptcy court entered an "Agreed Order Lifting
Automatic Stay of an Act Against Real Property (7 Vacant Lots)."

On October 5, 2015, Jones filed in the bankruptcy court a "Motion
to Vacate [the March 2 Order] Due to Lack of Subject Matter
Jurisdiction," in which he argued that the bankruptcy court did not
have subject matter jurisdiction over the abandoned Mortgaged
Properties at the time that it lifted the automatic stay in its
March 2 order.

In opposition, First Bank argued that Jones failed to timely appeal
the March 2 order lifting the automatic stay and, therefore, the
motion to vacate should be denied as a Federal Rule of Civil
Procedure 60 motion.

On December 21, the bankruptcy court entered an order denying
Jones' motion to vacate without specifying the basis for its
decision.  

Jones appealed to the district court.  In an oral ruling on May 24,
2016, the district court dismissed Jones' appeal because  Jones'
notice of appeal filed on January 4, 2016, was untimely as to the
March 2 order lifting the automatic stay.

The Fifth Circuit noted that Jones is proceeding pro se and that
his motion to vacate argued that the bankruptcy court lacked
jurisdiction when it made the March 2 order.  The appellate court
liberally interpreted his motion to vacate as a Federal Rule of
Civil Procedure 60(b)(4) motion and his appeal as being from the
December 21 order denying his Rule 60(b)(4) motion.  Under this
interpretation, the Fifth Circuit held that Jones' appeal to the
district court from the December 21 order was timely, and his
appeal to the Fifth Circuit from the district court's dismissal was
also timely.

The Fifth Circuit, however, also stated that interpreting Jones'
motion to vacate as a Rule 60(b)(4) motion does not provide Jones
with the relief that he seeks because the bankruptcy court did not
err in denying his Rule 60(b)(4) motion.  The appellate court found
that Jones did not appeal the March 2 order lifting the automatic
stay by arguing that the bankruptcy court lacked jurisdiction and,
thus, cannot now use a Rule 60(b)(4) motion to challenge the
bankruptcy court's jurisdiction as a substitute for an untimely
appeal from the March 2 order.

The appeals case is BRAD JONES, Appellant, v. FIRST BANK, Appellee,
No. 16-20353 (5th Cir.), In the case captioned In the Matter of:
EXQUISITE DESIGNS BY CASTLEROCK AND COMPANY, INCORPORATED, Debtor.

A full-text copy of the Fifth Circuit's November 7, 2016 ruling is
available at https://is.gd/rECchn from Leagle.com.

Appellee is represented by:

          Donald Lee Turbyfill, Esq.
          1901 Avenue of the Stars, Suite 480
          Los Angeles, CA 90067
          Tel: (424)239-1890
          Fax: (424)239-1882
          Email: dlee@lkpgl.com

          Deborah Colleen Simmons Riherd, Esq.
          5120 Woodway, Suite 9000
          Houston, TX 77056-1725
          Tel: (713)622-8338
          Fax: (713)586-7053

                    About Exquisite Designs

Exquisite Designs By Castlerock and Company, Inc., based in Spring,
TX, filed a Chapter 11 petition (Bankr. S.D. Tex. Case No.
12-38337) on  November 5, 2012.  The Hon. Letitia Z. Paul presides
over the case.  Reese W. Baker, Esq., at Baker & Associates, serves
as bankruptcy counsel.

In its petition, the Debtor estimated $1 million to $10 million in
both assets and liabilities.  The petition was signed by Brad F.
Jones, president and sole director.


EXTREME PLASTICS: Plan Filing Period Extended Through January 28
----------------------------------------------------------------
Judge Christopher S. Sontchi of the U.S. Bankruptcy Court for the
District of Delaware extended the time within which only Extreme
Plastics Plus, Inc., and EPP Intermediate Holdings, Inc. have the
exclusive right to file a Chapter 11 plan through and including
January 28, 2017, and the exclusive right to solicit acceptances to
the Plan through and including March 29, 2017.

As reported by the Troubled Company Reporter, the Debtors sought an
extension of their exclusivity periods, explaining to the Court
that they require additional time to complete the sale of assets
and address any remaining issues.

The Debtors related that over the past two months, the Debtors and
their advisors were engaged in extensive and intense negotiations
that culminated in a stalking horse's going concern bid for
substantially all of the Debtors' assets and the entry of a bidding
procedures order establishing a process for an auction and sale of
the Assets.

By locking in a stalking horse -- BW EPP Holdings, LLC -- the
Debtors obtained a competitive floor price for the Assets, which
the Debtors are hopeful will spur interest among the parties that
have already signed non-disclosure agreements.  The Debtors
expected an orderly and efficient wind-down of their estates
following the sale BW EPP.

At this juncture, however, the Sale with BW EPP has not yet closed
and it is not absolutely certain -- regardless of how likely --
that the Debtors will pursue the alternative of amending the Final
Cash Collateral Order to ensure that these chapter 11 cases are
funded for a wind-down.

                           About Extreme Plastics Plus

Founded in 2007, privately-held Extreme Plastics Plus, Inc.,
operates an environmental containment business specializing in
providing environmental lining, above ground storage tanks,
composite rig mats, secondary steel wall containment systems, and
closed loop solids control services, primarily for the oil and gas
industry.  Extreme Plastics has six facilities in Fairmont, West
Virginia, Tunkhannock, Pennsylvania, St. Clairsville, Ohio, Moore,
Texas, Odessa, Texas, and Oklahoma City, Oklahoma.

The stock of Extreme Plastics is held entirely by EPP Intermediate
Holdings, Inc.  The stock of EPP Intermediate is held entirely by
EPP Holding Company, LLC, a non-debtor.

Extreme Plastics, and affiliate EPP Intermediate Holdings, Inc.,
sought Chapter 11 protection (Bankr. D. Del. Lead Case No.
16-10221) on Jan. 31, 2016, as the ongoing decline in the price of
oil and natural gas negatively impacted demand of the Debtors'
services.

Extreme Plastics estimated $10 million to $50 million in assets and
$50 million to $100 million in debt.  EPP Intermediate estimated $1
million to $10 million in assets and $50 million to $100 million in
debt.

As of the Petition Date, Extreme Plastics owes $49.5 million under
a secured facility provided by lenders led by Citizens Bank of
Pennsylvania, as agent.  The facility is secured by a lien in
substantially all of the Debtors' assets, as well as a pledge of
100% of the equity in Extreme Plastics and EPP Intermediate.

The Debtors are represented by William D. Sullivan, Esq., at
Sullivan Hazeltine Allinson LLC, and have retained Epiq Bankruptcy
Solutions, LLC, as claims and noticing agent.

The U.S. Trustee has appointed five members to the Official
Committee of Unsecured Creditors.  The Committee selected Reed
Smith LLP as counsel.


FIRST NBC: Receives Nasdaq Notice on Delayed Form 10-Q Filing
-------------------------------------------------------------
First NBC Bank (the "Bank"), a wholly owned subsidiary of First NBC
Bank Holding Company (NASDAQ:FNBC) ("First NBC"), on Nov. 17
disclosed that the Bank has entered into a Consent Order with the
Federal Deposit Insurance Corporation ("FDIC") and the Louisiana
Office of Financial Institutions ("OFI").  The Consent Order was
issued on November 10, 2016, and requires the Bank to take certain
actions.

Shivan Govindan, First NBC's Chairman of the Board, said, "First
NBC is committed to addressing all the matters specified in the
Consent Order and has begun the work required, all with the goal of
satisfying its terms.  First NBC is currently profitable and is
positioned to extend our commercial customer relationships and
increase share of wallet while enhancing its regulatory position."

Under the Consent Order, the Bank has agreed, among other things,
to: review the Bank's management, its loan review and problem loan
identification processes, and its loan portfolio policy and
procedures; formulate a strategic plan (including a plan to sustain
adequate liquidity), a plan to reduce classified assets, a capital
plan to meet and maintain certain minimum capital levels and a
profit and budget plan; enhance internal controls; and hold
additional on-balance sheet liquidity.  The Bank is required to
submit these plans, policies and procedures to the FDIC and
Louisiana OFI for a written determination that they have no
supervisory objection to them.  Upon receipt of a no supervisory
objection determination from the FDIC and Louisiana OFI, the Bank
is required to implement and ensure adherence to the plans,
policies and procedures.  With respect to liquidity, in addition to
the submission of a liquidity plan, the Consent Order requires the
Bank to enhance its on-balance sheet liquidity on a near-term basis
to achieve certain progressively higher benchmarks, including as a
percentage of total deposits and total liabilities. With respect to
capital, the Consent Order requires the Bank to submit a plan to
achieve and maintain a Tier 1 Leverage Capital ratio equal to or
greater than 10 percent of the Bank's Average Total Assets, a Tier
1 Risk-Based Capital ratio equal to or greater than 13 percent of
the Bank's Total Risk-Weighted Assets, and a Total Risk-Based
Capital ratio equal to or greater than 15 percent of the Bank's
Total Risk Weighted Assets.  The Consent Order contains deadlines
by which the Bank has agreed to achieve certain deliverables.  The
Consent Order will continue until modified or terminated by the
FDIC and the Louisiana OFI.

Mr. Govindan continued, "Many of the matters outlined in the
Consent Order were initially identified earlier this year.  Since
that time, First NBC has devoted significant time and resources to
strengthening our business and addressing the matters raised.  Our
recent results demonstrate the progress we have made executing our
strategy.  First NBC is one of Louisiana's leading community banks,
widely recognized for our superior customer service and positive
contributions to the local economy.  We are confident that we are
taking the right steps to address the matters in the Consent Order
and position First NBC for long-term success."

First NBC also announced that it has received, as expected, a
notification from the Nasdaq Stock Market ("Nasdaq") informing
First NBC that it was not in compliance with Nasdaq Listing Rule
5250(c)(1) because it had not timely filed its Quarterly Report on
Form 10-Q for the period ended September 30, 2016.  First NBC had
previously announced that its quarterly report would be delayed as
a result of the time needed for First NBC to complete the
engagement of its new auditor and for the new auditor to complete
its review of First NBC's quarterly financial statements.  The
Nasdaq notification letter has no immediate impact on the listing
or trading of First NBC's common stock on the Nasdaq Global Select
Market.  Under Nasdaq rules, First NBC has until January 17, 2017,
to submit a plan to regain compliance with its reporting
obligations.  If First NBC is unable to cure the deficiency, or if
it determines not to timely submit a compliance plan to Nasdaq,
First NBC's common stock would be subject to delisting by Nasdaq.

            About First NBC Bank Holding Company

First NBC, headquartered in New Orleans, Louisiana, offers a broad
range of financial services through its wholly-owned banking
subsidiary, First NBC Bank, a Louisiana state non-member bank.
First NBC's primary markets are the New Orleans metropolitan area
and the Florida panhandle, which it serves from 39 full service
banking offices located throughout its markets.


FLEXI-VAN LEASING: S&P Cuts CCR to B on Weakened Credit Metrics
---------------------------------------------------------------
S&P Global Ratings said that it has lowered its corporate credit
rating on Flexi-Van Leasing Inc. to 'B' from 'BB-'.  The outlook is
negative.

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

"The downgrade reflects that the company's credit metrics have
weakened below our previously stated threshold for the current
rating (specifically, a funds from operations (FFO)-to-debt ratio
of 9%)," said S&P Global credit analyst Jeff Ward.  "We now expect
the company's FFO-to-debt ratio to remain in the low- to mid-single
digit percent area through 2018, which compares with 14% in 2015."
Flexi-Van's FFO-to-debt ratio declined because its earnings and
cash flow have contracted on weaker demand and pricing tied to
reduced levels of global trade, which is a trend that S&P do not
expect to improve materially over at least the next year.  S&P also
believes that the company may potentially be unable to refinance
its $275 million ABL credit facility, which matures in August
2017.

The negative outlook on Flexi-Van reflects S&P's concern that the
company may be unable to refinance its ABL credit facility that
matures in August 2017 given the pressure on its earnings and the
uncertain outlook for global trade.

S&P could lower its rating on Flexi-Van if S&P become less
confident that the company will be able to refinance its ABL
facility, or if its operating performance and credit measures
deteriorate further.

S&P could revise its outlook on Flex-Van to stable if the company
successfully refinances its ABL facility.



FOUR CORNERS: Hires Suzy Tate as Counsel
----------------------------------------
Four Corners Direct, Inc. asks for permission from the U.S.
Bankruptcy Court for the Middle District of Florida to employ Suzy
Tate, P.A. as counsel, effective November 8, 2016.

The Debtor requires Ms. Tate to:

   (a) take all necessary action to protect and preserve the
       estate of the Debtor, including the prosecution of actions
       on its behalf, the defense of any actions commenced against

       them, negotiations concerning all bankruptcy litigation in
       which they are involved, and objections, when appropriate,
       in objecting to claims filed against the estate;

   (b) prepare, on behalf of the Debtor, any applications,
       answers, orders, reports, and papers in connection with the

       administration of the estate;

   (c) counsel the Debtor with regard to its rights and
       obligations as debtor-in possession;

   (d) negotiate, prepare, and file a chapter 11 plan of
       reorganization and corresponding disclosure statement, seek

       approval of such disclosure statement and confirmation of
       such plan; and

   (e) perform all other necessary legal services in connection
       with these chapter 11 cases.

Ms. Tate will be compensated at an hourly rate of $300.

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

The firm received $9,000 as pre-petition retainer. The pre-petition
retainer was applied to the $3,000 pre-petition fees and $1,717
filing fee.

The firm now holds $4,283 in bankruptcy retainer, which will be
held as security of services to be rendered and costs to be
incurred in the Debtor’s bankruptcy case following the Petition
Date.

Suzy Tate, owner of the firm, assured the Court that the firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code and does not represent any interest adverse to
the Debtor and its estate.

Ms. Tate can be reached at:

       Suzy Tate, Esq.
       Suzy Tate, P.A.
       14502 N. Dale Mabry, Ste. 200
       Tampa, FL 33618
       Tel: (813) 264-1685
       Fax: (813) 264-1690
       E-mail: suzy@suzytate.com   

Four Corners Direct, Inc., based in Sarasota, Fla., filed a Chapter
11 petition (Bankr. M.D. Fla. Case No. 16-09620) on November 8,
2016. Suzy Tate, Esq. serves as bankruptcy counsel.

In its petition, the Debtor indicated $0 in total assets and $10
million in total liabilities.  The petition was Martin Lothman,
president.

A list of the Debtor's 12 unsecured creditors is available for free
at http://bankrupt.com/misc/flmb16-09620.pdf


GARLOCK SEALING: EnPro Agrees to Settle Canadian Asbestos Claims
----------------------------------------------------------------
EnPro Industries, Inc. on Nov. 18, 2016, disclosed that it has
entered into a definitive settlement agreement with workers'
compensation boards for each of the ten Canadian Provinces (the
"Provincial Boards") to resolve current and future asbestos claims.
The agreement resolves all claims against EnPro and certain of its
subsidiaries, Garlock Sealing Technologies LLC ("GST"), Garrison
Litigation Management Group, Ltd., Coltec Industries Inc
("Coltec"), and Garlock of Canada Ltd (collectively referred to as
the "EnPro Parties"), for recovery of a portion of amounts the
Provincial Boards have paid and will pay in the future under
asbestos-injury recovery statutes in Canada.  An agreement for the
resolution of these Canadian claims has been a condition to EnPro,
Coltec and GST's obligations to proceed with the March 2016
comprehensive settlement (the "Comprehensive Settlement") reached
with the court-appointed committee representing current asbestos
claimants, the court-appointed legal representative of future
asbestos claimants in GST's asbestos claims resolution process
pending in the U.S. Bankruptcy Court for the Western District of
North Carolina (the "Bankruptcy Court"), and representatives for
current and future asbestos claimants against Coltec.  As
contemplated by the Comprehensive Settlement, GST and Coltec have
filed a modified joint plan of reorganization (the "Joint Plan")
with the Bankruptcy Court, which set December 9, 2016 as the
deadline for asbestos claimants to vote on approving the Joint
Plan.

The settlement agreement provides for an aggregate cash payment to
the Provincial Boards of U.S. $20 million, payable on the fourth
anniversary of the effective date of the Joint Plan.  After the
effective date of the Joint Plan, the Provincial Boards will have
the option of accelerating the payment, in which case the amount
payable would be discounted from the fourth anniversary of the
effective date of the Joint Plan to the payment date at a discount
rate of 4.5% per annum.  This is consistent with the present value
estimate of approximately $17 million, before tax, that EnPro has
previously announced as the amount committed for the resolution of
these claims.  In return, the Provincial Boards have separately
agreed to release EnPro, any of EnPro's affiliates and the
settlement trust to be established under the Joint Plan from any
liability for any present or future asbestos-related claims by the
Provincial Boards and to provide, among other protections, a
covenant not to sue EnPro, any of EnPro's affiliates or the
settlement trust with respect to any such claims.

The settlement agreement will not become effective unless the
Bankruptcy Court enters an order approving it or concluding that
Bankruptcy Court approval is not necessary for the EnPro Parties to
the Agreement that are not debtors under the Joint Plan to enter
into and consummate the settlement agreement.  The settlement
agreement further provides that it is not binding on any of the
EnPro Parties unless and until the effective date of the Joint Plan
shall have occurred.

"We are pleased to announce the definitive agreement that we
reached with the Canadian Provincial Boards to resolve all current
and future asbestos claims against EnPro and certain subsidiaries.
This is yet another key milestone in our efforts to cleanse EnPro
and its subsidiaries of the legacy asbestos claims that have
plagued the company since its spinoff from the Goodrich Corporation
in 2002.  We remain on track to reconsolidate GST into EnPro in the
third quarter of 2017 and are looking forward to closing this
chapter of EnPro's history.  We are diligently planning for EnPro's
next chapter and are excited about sharing that with our
shareholders before the expected reconsolidation next year," said
Steve Macadam, President and Chief Executive Officer.

                     About Garlock Sealing

Headquartered in Palmyra, New York, Garlock Sealing Technologies
LLC is a unit of EnPro Industries, Inc. (NYSE: NPO).  For more than
a century, Garlock has been helping customers efficiently seal the
toughest process fluids in the most demanding applications.

On June 5, 2010, Garlock filed a voluntary Chapter 11 petition
(Bankr. W.D.N.C. Case No. 10-31607) in Charlotte, North Carolina,
to establish a trust to resolve all current and future asbestos
claims against Garlock under Section 524(g) of the U.S. Bankruptcy
Code.  The Debtor estimated $500 million to $1 billion in assets
and up to $500 million in debts as of the Petition Date.

Affiliates The Anchor Packing Company and Garrison Litigation
Management Group, Ltd., also filed for bankruptcy.

Albert F. Durham, Esq., at Rayburn Cooper & Durham, P.A.,
represents the Debtor in their Chapter 11 effort.  Garland S.
Cassada, Esq., at Robinson Bradshaw & Hinson, serves as counsel for
asbestos matters.

The Official Committee of Asbestos Personal Injury Claimants in the
Chapter 11 cases is represented by Travis W. Moon, Esq., at
Hamilton Moon Stephens Steele & Martin, PLLC, in Charlotte, NC,
Elihu Inselbuch, Esq., at Caplin & Drysdale, Chartered, in New
York, and Trevor W. Swett III, Esq., Leslie M. Kelleher, Esq., and
Jeanna Rickards Koski, Esq., in Washington, D.C. 20005.

Joseph W. Grier, III, the Court-appointed legal representative for
future asbestos claimants, has retained A. Cotten Wright, Esq., at
Grier Furr & Crisp, PA, and Richard H. Wyron, Esq., and Jonathan
P. Guy, Esq., at Orrick, Herrington & Sutcliffe LLP, as his
co-counsel.

Judge George Hodges of the U.S. Bankruptcy Court for the Western
District of North Carolina on Jan. 10, 2014, entered an order
estimating the liability for present and future mesothelioma claims
against Garlock Sealing at $125 million, consistent with the
positions GST put forth at trial.

In January 2015, the Debtors filed their Second Amended Plan of
Reorganization, which is backed by the Future Asbestos Claimants'
Representative (FCR).  The confirmation hearing is slated to begin
June 20, 2016.

Under the schedule for confirmation proceedings ordered by the
Court, objections to confirmation of the Plan that do not depend on
the results of voting were due Oct. 6, 2015, and confirmation
objections that depend on such results are due on Dec. 18, 2015.


GEO V. HAMILTON: Needs Until March 31 to File Chapter 11 Plan
-------------------------------------------------------------
Geo. V. Hamilton, Inc., asks the U.S. Bankruptcy Court for the
Western District of Pennsylvania to further extend its exclusive
period to file a chapter 11 plan through and including March 31,
2017, and to solicit votes thereon through and including May 31,
2017.

The Debtor tells the Court that it had a meeting with the
Committee, and the Future Claimants' Representative on Oct. 19,
2016, to discuss the Debtor's financial projections, among other
things. Following the meeting, the Committee sent additional
information and document requests to the Debtor, which the Debtor
answered on Nov. 7, 2016.

The Debtor intends to formulate, negotiate, and file what the
Debtor believes should be a consensual plan of reorganization that
resolves the Asbestos Claims and Demands against the Debtor
pursuant to section 524(g) of the Bankruptcy Code. The current
Exclusivity Periods do not allow the Debtor sufficient time to
accomplish these objectives.

The Debtor relates that Gleason & Associates, the joint financial
advisor to the Committee and the Future Claimants' Representative,
and BDO Consulting,  the Debtor's valuation expert, are evaluating
the documents recently produced and performing valuations that will
be used during negotiations to formulate a plan of reorganization.


The Debtor further relates that the retention of Schneider Downs &
Co., Inc. and Jeff Cornish, as consultants, was necessary: (1) to
assist the Debtor in developing processes and information reporting
systems that allow the Debtor to provide accurate financial
reporting and projections to the Committee and the Future
Claimants’ Representative; and (2) to assist the Debtor in
developing financial projections for 2017.  Those financial
reporting and projections are necessary to complete Gleason's and
BDO's valuations and to explore possibilities for exit financing.

Additionally, the Huntington National Bank has agreed to extend the
credit agreement milestones relating to filing and confirming a
plan of reorganization. More specifically, Huntington agreed to
extend the period for filing a plan of reorganization to March 31,
2017, and the period to obtain confirmation of such plan to June
30, 2017. The agreement between the Debtor and Huntington will be
made available to interested parties upon request.

A hearing on the Debtor's motion will be held on December 15, 2016,
at 10:00 a.m.

                                About Geo. V. Hamilton

Formed in 1947, Geo. V. Hamilton, Inc. is based in McKees Rocks,
Pennsylvania, its home of nearly seventy years. Hamilton is a
distributor of insulation products and an insulation contractor
serving a wide variety of industrial, energy and commercial
facilities in the Pittsburgh area and elsewhere.

Hamilton filed a Chapter 11 bankruptcy petition (Bankr. W.D. Pa.
Case No. 15-23704) on Oct. 8, 2015, for the purpose of resolving
all existing and future personal injury and wrongful death claims
arising from alleged exposure to asbestos-containing product
distributed or installed by Hamilton more than 40 years ago.

Judge Gregory L. Taddonio is assigned to the case.

The petition was signed by Joseph Linehan, the Company's general
counsel.

The Debtor has engaged Reed Smith LLP as counsel and Logan &
Company, Inc., as claims and noticing agent. Schneider Downs & Co.,
Inc., as accounting consultant.

On Oct. 23, 2015, the United States Trustee appointed the Official
Committee of Asbestos Personal Injury Claimants to represent the
shared interests of holders of current asbestos-related claims for
personal injury or wrongful death against the Debtor. The Committee
is represented by Douglas A. Campbell, Esq., at CAMPBELL & LEVINE,
LLC, and Ann C. McMillan, Esq., Jeffrey A. Liesemer, Esq., and
Kevin M. Davis, Esq., at CAPLIN & DRYSDALE, CHARTERED.

On Dec. 8, 2015, the U.S. Trustee filed its statement that an
unsecured creditors committee has not been appointed to represent
the interests of unsecured creditors of the Debtor.

On Dec. 23, 2015, the Court entered its order appointing Gary
Philip Nelson as the Legal Representative of Holders of Future
Asbestos Demands.  The FCR is represented by Beverly A. Block,
Esq., at Sherrard German & Kelly, PC.


GLYECO INC: Incurs $699,000 Net Loss in Third Quarter
-----------------------------------------------------
Glyeco, Inc. filed with the Securities and Exchange Commission its
quarterly report on Form 10-Q disclosing a net loss of $699,091 on
$1.38 million of net sales for the three months ended Sept. 30,
2016, compared to a net loss of $735,694 on $2.14 million of net
sales for the same period during the prior year.

For the nine months ended Sept. 30, 2016, the Company reported a
net loss of $2.54 million on $4.14 million of net sales compared to
a net loss of $2.79 million on $5.52 million of net sales for the
nine months ended Sept. 30, 2015.

As of Sept. 30, 2016, the Company had $5.73 million in total
assets, $1.31 million in total liabilities and $4.42 million in
total stockholders' equity.

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

                    https://is.gd/9LAvxj

                     About GlyEco, Inc.

Phoenix, Ariz.-based GlyEco, Inc., is a green chemistry company
formed to roll-out its proprietary and patent pending glycol
recycling technology that transforms waste glycols, a hazardous
material, into profitable green products.

GlyEco reported a net loss available to common shareholders of
$12.5 million on $7.36 million of net sales for the year ended Dec.
31, 2015, compared to a net loss available to common shareholders
of $8.73 million on $5.89 million of net sales for the year ended
Dec. 31, 2014.

KMJ Corbin & Company LLP, in Costa Mesa, California, 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 had recurring losses from operations, has negative
operating cash flows during the year ended Dec. 31, 2015, and has
an accumulated deficit of $34,550,503 as of Dec. 31, 2015.  These
factors raise substantial doubt about the Company's ability to
continue as a going concern.


GOLDEN HARVEST CULINARY: Seeks Approval to Hire Attorneys
---------------------------------------------------------
Golden Harvest Culinary Homewood, LLC seeks approval from the U.S.
Bankruptcy Court for the Northern District of Alabama to hire legal
counsel.

The Debtor proposes to hire Cedrick Coleman, Esq., and Edward May,
Esq., to assist in the preparation of a bankruptcy plan and provide
other legal services related to its Chapter 11 case.

The proposed attorneys will be paid an hourly rate of $250, plus
reimbursement of work-related expenses.  Paralegals will be paid
$100 per hour.

Messrs. Coleman and May are "disinterested persons" as defined in
section 101(14) of the Bankruptcy Code, according to court
filings.

The proposed attorneys maintain an office at:

     Cedrick D. Coleman, Esq.
     Edward E. May, Esq.
     1927 1st Avenue North, Suite 800
     Birmingham, AL 35203
     Phone: (205) 252-9203
     Email: cdcoleman@maylegalgroup.com

                 About Golden Harvest Culinary

Golden Harvest Culinary Homewood, LLC sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ala. Case No.
16-04472) on October 28, 2016.  The petition was signed by Toshimi
J. Hira, owner.  

At the time of the filing, the Debtor estimated assets of less than
$50,000 and liabilities of less than $500,000.


GOLDEN HARVEST CULINARY: Seeks to Hire Partners Tax as Accountant
-----------------------------------------------------------------
Golden Harvest Culinary Homewood, LLC seeks approval from the U.S.
Bankruptcy Court for the Northern District of Alabama to hire an
accountant.

The Debtor proposes to hire Partners Tax & Accounting, LLC to
prepare financial and tax documents related to its Chapter 11 case.
The firm will be paid $500 per month for its services.

Partners Tax does not hold or represent any interest adverse to the
bankruptcy estate, and is a "disinterested person" as defined in
section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Brett S. Sheedy
     Partners Tax & Accounting, LLC
     1516 20th Street South, Suite 1
     Birmingham, AL 35205
     Phone: (205) 933-0104
     Fax: (205) 933-0105

                 About Golden Harvest Culinary

Golden Harvest Culinary Homewood, LLC sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ala. Case No.
16-04472) on October 28, 2016.  The petition was signed by Toshimi
J. Hira, owner.  

At the time of the filing, the Debtor estimated assets of less than
$50,000 and liabilities of less than $500,000.


GREAT NORTHERN BREWING: Court Allows Cash Use on Final Basis
------------------------------------------------------------
Judge Russell F. Nelms of the U.S. Bankruptcy Court for the
Northern District of Texas authorized Great Northern Brewing
Company to use cash collateral on a final basis, beginning Nov. 9,
2016.

Judge Nelms acknowledged that various creditors may assert secured
claims against the Debtor, either under their respective loan
documents or under applicable non-bankruptcy law.  He further
acknowledged that one or more of the Secured Parties may assert
that the Secured Indebtedness is secured by liens and security
interests in some or substantially all of the Debtor's assets,
including cash collateral.

The Debtor's authority to use cash collateral under the terms of
the Final Order will terminate on the earlier of:

     (a) conversion of the case to a chapter 7 case; or

     (b) confirmation of a plan of reorganization.

The Secured Parties were granted, in the respective priority of
their liens as existed on the Petition Date, valid, binding,
enforceable, and automatically perfected first priority replacement
liens and security interests in, to, and against all the Debtor's
property acquired after the Petition Date, and all cash and
receivables that are their proceeds, products, offspring or
profits.

A full-text copy of the Final Order, dated Nov. 18, 2016, is
available at
http://bankrupt.com/misc/GreatNorthernBrewing2016_1643989rfn11_45.pdf

             About Great Northern Brewing Company

Great Northern Brewing Company, a Texas corporation, has its
principal place of business at 4018 Amon Carter Blvd, #204, Fort
Worth, TX 76155. It is the owner and operator of the Great Northern
Brewery located at 2 Central Avenue, Whitefish, Montana 59937. The
Brewery, in operation since 1995, produces specialty lagers and
ales and has the capacity to brew 10,000 barrels annually. The
Debtor is actively managed by Dennis Konopatzke, its Chief
Executive Officer and sole director.

Great Northern Brewing Company filed a Chapter 11 petition (Bankr.
N.D. Tex. Case No. 16-43989) on Oct. 14, 2016.  The petition was
signed by Dennis Konopatzke, chief executive officer.  The case is
assigned to Judge Russell F. Nelms.  The Debtor is represented by
Mark A. Weisbart, Esq., at the Law Office of Mark A. Weisbart.  At
the time of filing, the Debtor estimated assets and liabilities at
$1 million to $10 million.



GROW CONDOS: Incurs $506,000 Net Loss in Sept. 30 Quarter
---------------------------------------------------------
Grow Condos, Inc. filed with the Securities and Exchange Commission
its quarterly report on Form 10-Q disclosing a net loss of $506,060
on $29,383 of total revenues for the three months ended Sept. 30,
2016, compared to a net loss of $19,758 on $36,783 of total
revenues for the three months ended Sept. 30, 2015.

As of Sept. 30, 2016, Grow Condos had $1.65 million in total
assets, $2.48 million in total liabilities and a total
shareholders' deficit of $829,090.

At Sept. 30, 2016, the Company had cash on hand of $24,268.  This,
according to the Company, is sufficient to sustain the day to day
operations of the Company for approximately 60 days.  It is not
likely that operating revenues will increase in the near future to
a sufficient extent to cover the operating expenses of the Company.
Therefore, it will be necessary to obtain additional capital from
the sale of equity or debt securities to continue operations beyond
60 days, the Company said.

Management believes in the future of the Company and in its ability
to grow its business and to raise capital as needed until such time
as the business operations of the Company become self-sustaining.

In their report dated Sept. 6, 2016, the Company's independent
registered public accounting firm included an emphasis-of-matter
paragraph with respect to its financial statements for the period
from July 1, 2015, to June 30, 2016, concerning the Company's
assumption that it will continue as a going concern.  The Company's
ability to continue as a going concern is an issue raised as a
result of the Company operating with an industry that is illegal
under federal law, the Company has yet to achieve profitable
operations, it has a significant accumulated deficit and are
dependent on its ability to raise capital from stockholders or
other sources to sustain operations and to ultimately achieve
viable profitable operations.  These factors raise substantial
doubt about the Company's ability to continue as a going concern.

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

                     https://is.gd/j0SP7R

                       About Grow Condos

Grow Condos, Inc., operates as a real estate purchaser, developer,
and manager of specific use industrial properties in the United
States.  The company provides condo type turn-key grow facilities
to support cannabis growers.  It is also involved in the
development, lease, ownership, and provision of investment sales
opportunities for commercial industrial properties focused in the
cannabis production arena.  The company is based in Eagle Point,
Oregon.

Grow Condos reported a net loss of $1.49 million on $118,533 of
total revenues for the year ended June 30, 2016, compared to a net
loss of $251,338 on $54,998 of total revenues for the year ended
June 30, 2015.

John Scrudato CPA, in Califon, New Jersey, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2015, citing that the Company operates with an
industry that is illegal under federal law, has yet to achieve
profitable operations, has a significant accumulated deficit and is
dependent on its ability to raise capital from stockholders or
other sources to sustain operations and to ultimately achieve
viable profitable operations.  These factors raise substantial
doubt about the Company's ability to continue as a going concern.


GUIDED THERAPEUTICS: Delays Filing of Sept. 30 Form 10-Q
--------------------------------------------------------
In a regulatory filing with the Securities and Exchange Commission,
Guided Therapeutics, Inc. said that its quarterly report on Form
10-Q for the period ended Sept. 30, 2016, could not be filed within
the prescribed time period.  

According to the Company, it experienced considerable financial
constraints during the third quarter of 2016.  These financial
constraints have postponed the ability of the Company's auditors
from reviewing the Form 10-Q and in starting the Financial review
process and thus resulted in delays in the preparation and
presentation of financial information.  These delays contributed to
the Company's inability to process and review the financial
information required to file the quarterly report on Form 10-Q by
the date required without incurring undue hardship and expense.

                   About Guided Therapeutics
  
Guided Therapeutics, Inc. (OTC BB and OTC QB: GTHP)
-- http://www.guidedinc.com/-- is developing a rapid and painless
test for the early detection of disease that leads to cervical
cancer.  The technology is designed to provide an objective result
at the point of care, thereby improving the management of cervical
disease.  Unlike Pap and HPV tests, the device does not require a
painful tissue sample and results are known immediately.  GT has
also entered into a partnership with Konica Minolta Opto to
develop a non-invasive test for Barrett's Esophagus using the
LightTouch technology platform.

Guided Therapeutics reported a net loss attributable to common
stockholders of $9.50 million on $42,000 of contract and grant
revenue for the year ended Dec. 31, 2015, compared to a net loss
attributable to common stockholders of $10.03 million on $65,000
of contract and grant revenue for the year ended Dec. 31, 2014.

As of June 30, 2016, Guided Therapeutics had $2.31 million in total
assets, $9.44 million in total liabilities, and a total
stockholders' deficit of $7.13 million.


HAGGEN HOLDINGS: Court Moves Plan Filing Period Through Feb. 1
--------------------------------------------------------------
Judge Kevin Gross of the U.S. Bankruptcy Court for the District of
Delaware extended the periods during which only HH Liquidation,
LLC, f/k/a Haggen Holdings, LLC, and its affiliated debtors may
file a chapter 11 plan and solicit acceptances through and
including February 1, 2017, and  April 3, 2017, respectively.

As reported by the Troubled Company Reporter on Nov. 4, 2016, the
Debtors sought exclusivity extension, saying that all throughout
these chapter 11 proceedings, their management and professionals
have devoted significant time to preserving and maximizing the
value of the Debtors' estates, stabilizing business operations and
ensuring a smooth transition of the Debtors' operations into
chapter 11, while also pursuing a strategic divestiture of their
assets, all of which will ultimately be for the benefit of all
stakeholder.

Due to these tasks that the Debtors had been consumed with to date,
the Debtors have not had sufficient time to work with interested
parties in these chapter 11 cases to determine whether the Debtors
can propose a viable chapter 11 plan.

Now, the Debtors had finished closing the Core Stores Sale and are
currently focusing their efforts on working with interested parties
to bring these chapter 11 cases to an orderly conclusion.  At this
stage, an extension of the Exclusive Periods will allow the Debtors
to work with these parties to determine whether they can pursue a
consensual or, at a minimum, a viable chapter 11 plan, which will
ultimately be to the benefit of all of the various constituencies.

                              About Haggen Holdings

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

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

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

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

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

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

T. Patrick Tinker, assistant U.S. Trustee for Region 3, appointed
seven creditors to the official committee of unsecured creditors.
Pachulski Stang Ziehl & Jones LLP serves as counsel to the
Committee.  Giuliano, Miller & Company, LLC, serves as tax advisors
to the Committee.

                                     *     *     *

Following the sale of core assets, Haggen Holdings LLC changed its
name to HH Liquidation, LLC.


HALCON RESOURCES: Franklin Resources, et al, Report 36.8% Stake
---------------------------------------------------------------
In an amended Schedule 13D filed with the Securities and Exchange
Commission, Franklin Resources, Inc., Charles B. Johnson and Rupert
H. Johnson, Jr., disclosed that as of Nov. 4, 2016, they
beneficially own 34,261,424 shares of common stock, par value
$0.0001 per share, of Halcon Resources Corporation, which
represents 36.8 percent of the shares outstanding.  Franklin
Advisers, Inc. also reported beneficial ownership of 34,011,940
common shares.  A full-text copy of the regulatory filing is
available for free at https://is.gd/QIPPdu

                     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.


HEBREW HEALTH: Patient's Family Expresses Concerns, PCO Report Says
-------------------------------------------------------------------
Anne Cahill Kluetsch, the Patient Care Ombudsman for Hebrew Life
Choinces, Inc., et al., has filed a First Report before the U.S.
Bankruptcy Court for the District of Connecticut on November 18,
2016.

The PCO reported that one family member of a patient has contracted
to register concerns. The PCO has made arrangements to meet with
the team and the family for an investigation. The Chief Executive
Officer, the Administrator and the Director of Nursing, expressed
to the PCO their intentions to address the concerns. The PCO will
continue to follow up on the matter.

The PCO finds, from interviewing the staff, that there is a mix of
staff response regarding the finalization of the agreements and
continuation of employment in the skilled nursing facility's level
of care. But as the concern may be in place, the PCO finds that the
care and services continue to be patient/resident focused and
provided with the adequate staffing levels and with the appropriate
supervision and oversight by the administration.

The PCO observed that staffing is adequate and a supervision is
provided on all shifts, supplies and equipment available and in
good repair. The PCO was told that there are no vendor issues or
delays in the deliveries. There are vendors who request for cash on
delivery but the major medical supply company and service contracts
remain in place.

One important services that continues to impact all departments,
service lines and residents, patients, client areas, is the
Volunteer Services. The volunteers are active in all areas and all
settings. The PCO learned about the Youth Volunteer Program, which
is currently on hold during the reorganization.

          About Hebrew Health Care Inc.

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

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

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

The United States Trustee for Region 2 appointed The Connecticut
Light and Power Company, McKesson Corporation, and Morrison
Management Specialists, Inc. to serve on the Official Committee of
Unsecured Creditors.


HERCULES OFFSHORE: Plan Filing Deadline Extended Through Jan. 3
---------------------------------------------------------------
Judge Kevin J. Carey of the United States Bankruptcy Court for the
District of Delaware extended their exclusive periods during which
only Hercules Offshore, Inc. and its affiliated Debtors may to file
a chapter 11 plan or plans and solicit acceptances to the plan or
plans, through January 3, 2017 and March 6, 2017, respectively.

As reported by the Troubled Company Reporter, the Debtor submit
that they have administered the chapter 11 cases in an efficient
and expeditious manner for the benefit of all stakeholders.  The
Debtors contend that the requested extension of the Exclusive
Periods will permit the Debtors to continue that process and
prevent unnecessary disruption and any attempts to derail the
significant progress made in the chapter 11 cases as the Debtors
move toward exiting chapter 11.

The Debtors filed their Joint Prepackaged Chapter 11 Plan on
September 15, 2016, which reflected a settlement reached in
connection with mediation among the Debtors and an ad hoc group of
certain of the Debtors' prepetition first lien lenders.  

As reported by the Troubled Company Reporter on Nov. 23, 2016, the
U.S. Bankruptcy Court for the District of Delaware on Nov. 1, 2016,
issued a memorandum decision determining to confirm the Modified
Joint Prepackaged Chapter 11 Plan of Hercules Offshore, Inc. and
certain of its U.S. domestic direct and indirect subsidiaries.  On
Nov. 15, the Court entered an order confirming the Plan.  The
Debtors are expected to consummate the Plan by December 2, 2016,
according to an agreement with an ad hoc group of lenders.

The Plan contemplates a controlled wind down of the operations of
the Debtors and certain of the Company's other domestic and
foreign
direct and indirect subsidiaries.  Pursuant to the Plan, all
equity
interests in the Company are being canceled and extinguished and a
liquidation trust (referred to in the Plan as the Wind Down
Entity,
the "Wind Down Entity") is being formed to sell, monetize or
otherwise dispose of the assets of the HERO Entities. Beneficial
interests in the Wind Down Entity will be distributed to former
holders of common stock of the Company upon consummation of the
Plan.

                            About Hercules Offshore, Inc.

Hercules Offshore, Inc., and its debtor and non-debtor subsidiaries
are providers of shallow-water drilling and marine services to the
oil and natural gas exploration and production industry globally.

Hercules Offshore and 13 of its subsidiaries each filed a Chapter
11 bankruptcy petition (Bankr. D. Del. Case Nos. 16-11385 to
16-11398) on June 5, 2016.  The petitions were signed by Troy L.
Carson as vice president.

The Debtors listed total assets of $1.06 billion and total debts of
$521.37 million as of March 31, 2016.

The Debtors have hired Michael S. Stamer, Esq., Philip C. Dublin,
Esq., David H. Botter, Esq., and Kevin M. Eide, Esq., at Akin Gump
Srauss Hauer & Feld LLP as general bankruptcy counsel and Robert J.
Dehney, Esq., Eric D. Schwartz, Esq., and Matthew B. Harvey, Esq.,
at Morris, Nichols, Arsht & Tunnell LLP as co-counsel.

The Debtors appointed Prime Clerk LLC as their claims and noticing
agent.

The U.S. Bankruptcy Court issued an order appointing Judge
Christopher Sontchi as mediator to govern mediation procedures and
assist in resolving certain objections related to confirmation of
Hercules Offshore's Joint Prepackaged Chapter 11 Plan of
Reorganization.

On June 20, 2016, the U.S. Trustee for the District of Delaware
appointed three members to the Equity Committee.  The Equity
Committee is represented by Hogan McDaniel and Kasowitz, Benson,
Torres & Friedman LLP as co-counsel and Ducera Securities LLC as
financial advisors.

Kirkland & Ellis LLP and Kirkland & Ellis International LLP, White
& Case LLP and Klehr Harrison Harvey Branzburg LLP represent an ad
hoc group of certain first lien lenders party to that certain
credit agreement, dated as of Nov. 6, 2015, by and among Hercules
Offshore, Inc., as borrower, the Subsidiary Guarantors as
guarantors, the lenders party thereto, and Jefferies Finance LLC,
as administrative agent and collateral agent, as creditors and
parties-in-interest in the Debtors' Chapter 11 cases.


HPIL HOLDING: Delays Filing of Sept. 30 Form 10-Q
-------------------------------------------------
HPIL Holding filed with the Securities and Exchange Commission a
Form 12b-25 notifying the delay in the filing of its quarterly
report for the period ended Sept. 30, 2016.

"Due to a delay by the Registrant in obtaining and compiling
information required to be included in the Registrant's Form 10-Q
for the quarterly ended September 30, 2016 (the "Form 10-Q"), the
Registrant will be unable to file the Form 10-Q within the
prescribed time period without incurring unreasonable effort or
expense.  The Registrant will file the Form 10-Q on or before the
fifth calendar day following the prescribed due date."

                         About HPIL Holding

HPIL Holding (formerly Trim Holding Group) was incorporated on Feb.
17, 2004, in the state of Delaware under the name TNT Designs, Inc.
A substantial part of the Company's activities were involved in
developing a business plan to market and distribute fashion
products.  On June 16, 2009, the majority interest in the Company
was purchased in a private agreement by Mr. Louis Bertoli, an
individual, with the objective to acquire and/or merge with other
businesses.  On Oct. 7, 2009, the Company merged with and into Trim
Nevada, Inc., which became the surviving corporation.  The merger
did not result in any change in the Company's management, assets,
liabilities, net worth or location of principal executive offices.
However, this merger changed the legal domicile of the Company from
Delaware to Nevada where Trim Nevada, Inc. was incorporated.  Each
outstanding share of TNT Designs, Inc. was automatically converted
into one share of the common stock of Trim Nevada, Inc.  Pursuant
to the merger, the Company changed its name from TNT Designs, Inc.
to Trim Holding Group and announced the change in the Company's
business focus to health care and environmental quality sectors.
Afterwards the Company determined it no longer needed its inactive
subsidiaries, and as such, all three subsidiaries were dissolved.
On May 21, 2012, the Company changed its name to HPIL Holding.

As of Sept. 30, 2016, HPIL Holding had $6.80 million in total
assets, $80,875 in total liabilities, all current, and $6.72
million in total stockholders' equity.

MNP LLP, in Mississauga, Ontario, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2015, citing that the Company has incurred
continuing losses and negative cash flows from operations.  These
conditions raise substantial doubt about the Company's ability to
continue as a going concern.

The Company reported a net loss and comprehensive loss available to
common shareholders of $92,659 following a net loss and
comprehensive loss available to common shareholders of $456,589 for
the year ended Dec. 31, 2014.


HPIL HOLDING: Inks $5.6M Purchase Agreement with GPL Ventures
-------------------------------------------------------------
HPIL Holding entered into a Securities Purchase Agreement with GPL
Ventures, LLC on Nov. 9, 2016.  The Company and GPL also entered
into a registration rights agreement dated Nov. 9, 2016, pursuant
to which the Company, at its sole and exclusive option, may issue
and sell to GPL, from time to time as provided therein, and GPL
would purchase from the Company shares of the Company's common
stock equal to a value of up to $5,600,000.  Pursuant to the
Registration Agreement, the Company has agreed to provide certain
registration rights under the Securities Act of 1933, as amended,
and applicable state laws with respect to all Shares issued in
connection with the Securities Purchase Agreement.

Subject to the terms and conditions of the Securities Purchase
Agreement, the Company, at its sole and exclusive option, may issue
and sell to GPL, and GPL will purchase from the Company, the Shares
upon the Company's delivery of written notices to GPL.  The
aggregate maximum amount of all purchases that GPL will be
obligated to make under the Securities Purchase Agreement will not
exceed $5,600,000.  Once a written notice is received by GPL, it
will not be terminated, withdrawn or otherwise revoked by the
Company.  GPL is not obligated to purchase any Shares unless and
until the Company has registered the Shares pursuant to a
registration statement on Form S-1 (or on such other form as is
available to the Company), which is required to be effective within
11 months of the execution of the Agreements.

Pursuant to the Securities Purchase Agreement, each purchase of
Shares must be in an amount equal to at least $100,000 and is
capped at the lesser of (i) $175,000 or (ii) 200% of the average
daily trading volume as calculated pursuant to the Securities
Purchase Agreement.  The purchase price per share for each purchase
of Shares to be paid by GPL will be 80% of the lowest trading price
(or if there are no recorded trades, the lowest closing price)
during the Valuation Period (as defined and calculated pursuant to
the Securities Purchase Agreement).

Additionally, on Nov. 9, 2016, the Company issued to GPL a
Convertible Promissory Note in the principal amount of $250,000 as
payment of a commitment fee to induce GPL to enter into the
Agreements.  The Note accrues interest at the rate of 5% per annum
and is due in full on or before July 30, 2017.  The Note also
prohibits prepayment of the principal.  GPL has the right to
convert all or any portion of the note balance at any time at a
conversion price per share of 75% of the lowest Trading Price
during the Valuation Period (as defined and calculated pursuant to
the Note), which is adjustable in accordance with the Note terms in
the event certain capital reorganization, merger, or liquidity
events of the Company as further described in the Note.

The Securities Purchase Agreement, Registration Agreement, and Note
contain other provisions customary to transactions of this nature.


                          About HPIL

HPIL Holding (formerly Trim Holding Group) was incorporated on Feb.
17, 2004, in the state of Delaware under the name TNT Designs, Inc.
A substantial part of the Company's activities were involved in
developing a business plan to market and distribute fashion
products.  On June 16, 2009, the majority interest in the Company
was purchased in a private agreement by Mr. Louis Bertoli, an
individual, with the objective to acquire and/or merge with other
businesses.  On Oct. 7, 2009, the Company merged with and into Trim
Nevada, Inc., which became the surviving corporation.  The merger
did not result in any change in the Company's management, assets,
liabilities, net worth or location of principal executive offices.
However, this merger changed the legal domicile of the Company from
Delaware to Nevada where Trim Nevada, Inc. was incorporated.  Each
outstanding share of TNT Designs, Inc. was automatically converted
into one share of the common stock of Trim Nevada, Inc.  Pursuant
to the merger, the Company changed its name from TNT Designs, Inc.
to Trim Holding Group and announced the change in the Company's
business focus to health care and environmental quality sectors.
Afterwards the Company determined it no longer needed its inactive
subsidiaries, and as such, all three subsidiaries were dissolved.
On May 21, 2012, the Company changed its name to HPIL Holding.

As of Sept. 30, 2016, HPIL Holding had $6.80 million in total
assets, $80,875 in total liabilities, all current, and $6.72
million in total stockholders' equity.

MNP LLP, in Mississauga, Ontario, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2015, citing that the Company has incurred
continuing losses and negative cash flows from operations.  These
conditions raise substantial doubt about the Company's ability to
continue as a going concern.

The Company reported a net loss and comprehensive loss available to
common shareholders of $92,659 following a net loss and
comprehensive loss available to common shareholders of $456,589 for
the year ended Dec. 31, 2014.


IMAGEWARE SYSTEMS: Incurs $2.74 Million Net Loss in Third Quarter
-----------------------------------------------------------------
Imageware Systems, Inc., filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
available to common shareholders of $2.74 million on $848,000 of
revenue for the three months ended Sept. 30, 2016, compared to a
net loss available to common shareholders of $2.16 million on $1.18
million of revenue for the three months ended Sept. 30, 2015.

For the nine months ended Sept. 30, 2016, the Company reported a
net loss available to common shareholders of $7.80 million on $2.88
million of revenue compared to a net loss available to common
shareholders of $6.76 million on $3.86 million of revenue for the
same period during the prior year.

As of Sept. 30, 2016, Imageware had $5.87 million in total assets,
$6.05 million in total liabilities and a total shareholders'
deficit of $186,000.

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

                      https://is.gd/X318la

                     About ImageWare Systems

Headquartered in San Diego, California, ImageWare Systems, Inc.,
is a leader in the emerging market for software-based identity
management solutions, providing biometric, secure credential, law
enforcement and enterprise authorization.  Its "flagship" product
is the IWS Biometric Engine.  Scalable for small city business or
worldwide deployment, the Company's biometric engine is a multi-
biometric platform that is hardware and algorithm independent,
enabling the enrollment and management of unlimited population
sizes.  The Company's identification products are used to manage
and issue secure credentials, including national IDs, passports,
driver licenses, smart cards and access control credentials.  Its
law enforcement products provide law enforcement with integrated
mug shot, fingerprint LiveScan and investigative capabilities.
The Company also provides comprehensive authentication security
software.

Imageware Systems reported a net loss available to common
shareholders of $9.59 million on $4.76 million of revenues for the
year ended Dec. 31, 2015, compared to a net loss available to
common shareholders of $7.99 million on $4.15 million of revenues
for the year ended Dec. 31, 2014.


IMMUDYNE: Negative Cash Flow Raises Going Concern Doubt
-------------------------------------------------------
Immudyne, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q, disclosing a net loss
of $217,696 on $1.38 million of net sales for the three months
ended September 30, 2016, compared to a net income of $8,119 on
$279,883 of net sales for the same period in 2015.

For the nine months ended September 30, 2016, the Company recorded
a net loss of $482,237 on $4.25 million of net sales, compared to a
net loss of $11,243 on $845,513 of net sales for the same period
last year.

The Company's balance sheet at September 30, 2016, showed total
assets of $1.08 million, total liabilities of $622,309, all
current, and a stockholders' equity of $457,066.

At September 30, 2016, the Company has an accumulated deficit
approximating $9.1 million and has incurred negative cash flows
from operations.  These conditions raise substantial doubt about
the Company's ability to continue as a going concern.

Based on the Company's cash balance at September 30, 2016, and
projected cash needs for 2017, management estimates that it may
need to increase sales revenue and/or raise additional capital to
cover operating and capital requirements for the 2017 year.
Management may raise the additional needed funds through increased
sales volume, issuing additional shares of common stock or other
equity securities, or obtaining debt financing.  Although
management has been successful to date in raising necessary
funding, there can be no assurance that sales revenue will
substantially increase or that any required future financing can be
successfully completed on a timely basis, or on terms acceptable to
the Company.

A full-text copy of the Company's Form 10-Q is available at:
                
                   https://is.gd/HogfpS

Immudyne, Inc., is a Delaware corporation established to develop,
manufacture and sell natural immune support products containing the
Company's proprietary yeast beta glucans, a group of beta glucans
naturally occurring in the cell walls of yeast that have been shown
through testing and analysis to support the immune system.  The
Company's products include once a day oral intake tablets and
topical creams and gels for skin application.  The Company
concentrates its sales and marketing efforts on healthcare
professionals, distributors for its all-natural raw material
ingredient products and direct-to-consumer sales.



IMPAX LABORATORIES: S&P Lowers CCR to 'BB-' on Weak Third Quarter
-----------------------------------------------------------------
S&P Global Ratings said that it lowered its corporate credit rating
on IMPAX Laboratories Inc. to 'BB-' from 'BB' and revised the
outlook to stable.

S&P also lowered its issue-level ratings on the senior secured
facilities to 'BB+' from 'BBB-'.  The recovery rating remains '1',
indicating S&P's expectations for meaningful recovery (90%-100%) in
the event of a payment default.  In addition, S&P lowered its
rating on the senior unsecured notes to 'B+' from 'BB-'.  The
recovery rating remains '5', indicating S&P's expectations for
modest (upper half of the 10%-30% range) recovery in the event of a
payment default.

The rating action reflects the company's underperformance in the
third quarter due to continued pricing pressure in parts of its
legacy generic portfolio and unexpected price concessions to
maintain market share in its recently acquired portfolio of generic
products from Teva.  Excluding generics for Solaraze and Skelaxin,
pricing pressure was in line with S&P's prior expectations for
mid-single-digit percent declines.  S&P has lowered its EBITDA
expectations for the next two years and now expect the company's
adjusted debt leverage to remain in the 3x-4x range.

IMPAX completed acquisition of 15 marketed generic products and
some pipeline products from Teva for about $600 million in August
2016.  The acquisition bolsters IMPAX's generic drug franchise,
adding a number of complex and difficult-to-manufacture generic
drugs to its portfolio.  However, this drug portfolio is now facing
significant competition and pricing pressure.

IMPAX received a subpoena from the U.S. Department of Justice in
2015 related to a probe into generic-drug price collusion, and the
outcome is uncertain.  While an unfavorable outcome has the
potential to significantly affect the company's operations, its
cash balance of about $230 million may partially offset the risk
and support the current rating.

"Our ratings on IMPAX reflect the company's narrow branded
pharmaceutical portfolio as well as its limited scale and market
share in the generic pharmaceutical industry.  The company's
branded specialty business is focused on treatments for the central
nervous system.  Moreover, IMPAX has limited research and
development capabilities as its branded portfolio consists of only
one internally developed drug, Rytary.  IMPAX operates on a very
modest scale compared with that of large competitors like Teva and
Mylan N.V. that dominate the generic pharmaceuticals industry.  The
company's market share of about 1% of the global generic
pharmaceuticals market limits its bargaining power with suppliers,
pharmacy benefit managers, distributors, and retailers, increasing
the pricing pressure on its product portfolio. IMPAX's business
risk somewhat benefits from its history of successfully developing
higher-margin, difficult-to-manufacture generic formulations and
first-to-file.  Paragraph IV patent challenges that enable it to
attain 180 days of marketing exclusivity for drugs.

   -- S&P expects overall revenues to grow by low–single-digit
      percents in 2016 and mid–double-digits in 2017 due to
growth
      from the acquisition of generic drugs from Teva, strong
      performance of IMPAX's branded drug Rytary, and new product
      launches in the generic segment.  This growth is expected to

      be partially offset by significant competition faced by
      generic drugs and is in line with our expectations for low-
      to mid-single-digit percent growth for the pharmaceutical
      industry.

   -- S&P expects EBITDA margins to improve by about 400 basis
      points (bps) in 2016 due to the absence of major
      restructuring charges like those incurred in 2015.  This
      increase is expected to be partially offset by the decline
      in margins due to significant pricing pressure.

   -- Margins in 2017 are expected to improve by about 250 bps due

      to higher margin products from the acquisition, benefits
      generated from restructuring initiatives, continued strong
      growth of high margin drug Rytary, and operating leverage
      benefit generated from the increase in operating scale,
      partially offset modest pricing pressure.

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

   -- The acquisition of some drugs from Teva is expected to
      increase adjusted debt to EBITDA to about 4.5x in 2016
      (reflecting less than a full year EBITDA of recent
      acquisitions), but it is expected to improve to the mid-3x
      range in 2017 after a full year EBITDA contribution from
      Teva portfolio and improvement in operating performance.

   -- Funds from operations (FFO) to debt of about 15% in 2016,
      improving to the high-teens rate in 2017.

S&P views IMPAX's liquidity as adequate.  S&P expects sources of
liquidity to exceed uses by 1.2x.  S&P also expects sources to
exceed uses even if EBITDA declines by 15%.  S&P believes the
company has a sound relationship with its banks and has a generally
satisfactory standing in the credit markets.  S&P do not believe
the company has the ability to absorb high-impact, low-probability
events—such as a major product recall or a litigation settlement
related to pricing collusion--without refinancing.

   -- Cash and cash equivalent of about $232 million as of
      Sept. 30, 2016;

   -- Full availability under its $200 million revolver as of
      Sept. 30, 2016; and

   -- Cash FFO of $180 million-$200 million over the next 12
      months.

   -- Annual working capital investments of $20 million-
      $30 million;

   -- Capital expenditures of $50 million-$65 million annually;
      and

   -- Debt amortization of $20 million.

   -- The company has a maximum total net leverage covenant of 5x
      under its credit facilities.  S&P expects covenant cushion
      on the leverage covenant to remain above 15% over the next
      two years.

The stable outlook reflects S&P's expectation that adjusted debt
leverage (pro forma for the full year impact of recent
acquisitions) will remain 3x-4x as growth in Rytary and new
products offset pricing pressure in the portfolio.  The substantial
cash balance supports the current rating, despite decreased
visibility and uncertainty with the investigation across the
generics industry into allegations of price collusion.

A downgrade could occur as the result of a non-accretive debt
financed acquisition of over $500 million.  S&P could also lower
the rating if generic pricing pressure intensifies, resulting in
debt leverage staying over 4.0x.  This could occur if sales growth
is below our expectation in the mid-single-digit percent range and
gross margins contract by 100 bps.

Although unlikely given current headwinds, S&P could raise the
rating if the company generates sales growth and EBITDA that enable
it to reduce leverage below 3x.  This would likely result if
pricing pressure in its generic portfolio stabilizes to the
mid-single-digit percent range and Rytary continues its trajectory
of double-digit growth.



INEEDMD HOLDINGS: Rosenberg Rich Expresses Going Concern Doubt
--------------------------------------------------------------
Ineedmd Holdings, Inc., filed with the U.S. Securities and Exchange
Commission its annual report on Form 10-K, disclosing a net loss of
$4.95 million on $44,165 of revenue for the year ended December 31,
2015, compared to a net loss of $40.31 million on $910 of revenue
for the year ended December 31, 2014.

Rosenberg Rich Baker Berman & Company in Somerset, N.J., states
that the Company had a net loss and net cash used in operations of
$4,948,188 and $2,345,427, respectively and has an accumulated
deficit totaling $120,288,517 and does not generate significant
revenue.  These conditions raise substantial doubt about its
ability to continue as a going concern.

The Company's balance sheet at December 31, 2015, showed total
assets of $1.16 million, total liabilities of $3.89 million, and a
stockholders' deficit of $2.72 million.

A full-text copy of the Company's Form 10-K is available at:
                
                   https://is.gd/Zb04in

Ineedmd Holdings, Inc., is a medical device development company
that was incorporated in the State of Delaware on February 16,
2000.  The Company's pioneering product development programs focus
on easy-to-use systems for collecting a plurality of diagnostic
information and transmitting that data to local and/or remote
locations.


INT'L SHIPHOLDING: Court OKs Bid Procedures on Assets Sale
----------------------------------------------------------
BankruptcyData.com reported that the U.S. Bankruptcy Court approved
International Shipholding's motion for (i) an order establishing
bidding procedures and (ii) an order or orders approving the sale
of the Debtors' assets in the specialty business segment. As
previously reported, "By this motion, the Debtors seek to continue
the process that has been in progress for the past three months to
maximize the value of their estates through a sale of the Assets.
As the Court is aware, pre-petition, in July of 2016, the Debtors
launched a formal marketing process, led by Blackhill, for the
potential sale of substantially all of the Debtors' assets. That
marketing effort has continued in earnest since the Petition Date
and has culminated in a fully negotiated Stalking Horse Agreement
with the Stalking Horse Purchaser for the Debtors' Specialty
Business Segment, which represents the highest and best offers that
the Debtors have received for these Assets to date. The Debtors
wish to continue this effort through a competitive marketing
process in the form of an auction for all or substantially all of
the Assets, in which the proposed Sale Transaction will be subject
to higher and better offers. The Stalking Horse Purchaser is
substantially owned by Erik L. Johnsen, the C.E.O. of the Debtors
and an insider of the Debtors. The Debtors also believe that the
Stalking Horse Agreement represents a lower execution risk, and
indeed, the Stalking Horse Purchaser has already provided its $1.8
million deposit. The deadline to submit qualified competing bids is
December 8, 2016, and -- if one or more qualified bids are received
-- a December 15, 2016 auction and a December 20, 2016 sale hearing
will follow."

                 About International Shipholding

International Shipholding Corporation filed a Chapter 11 petition
(Bankr. S.D.N.Y. Case No. 16-12220) on July 31, 2016. Its
affiliated Debtors also filed separate Chapter 11 petitions. The
petitions were signed by Manuel G. Estrada, vice president and
chief financial officer.

The Debtors are represented by David H. Botter, Esq., Sarah Link
Schultz, Esq., and Travis A. McRoberts, Esq., at Akin Gump Strauss
Hauer & Feld LLP. The Debtors' Restructuring Advisor is Blackhill
Partners, LLC.  Their Claims, Noticing & Balloting Agent is Prime
Clerk LLC.

The Debtors disclosed total assets at $305.08 million and total
debts at $226.83 million as of March 31, 2016.

William K. Harrington, the U.S. Trustee for the Southern District
of New York, on Sept. 1 appointed three creditors to serve on the
official committee of unsecured creditors of International
Shipholding Corporation. The Committee hires Pachulski Stang Ziehl
& Jones LLP as counsel, and AMA Capital Partners, LLC as financial
advisor.



INTERPACE DIAGNOSTICS: Delays Filing of Sept. 30 Form 10-Q
----------------------------------------------------------
Interpace Diagnostics Group, Inc., filed with the Securities and
Exchange Commission a Form 12b-25 notifying the delay in the filing
of its quarterly report on Form 10-Q for the period ended Sept. 30,
2016.

As previously disclosed, Interpace Diagnostics, Interpace
Diagnostics, LLC, a subsidiary of the Company, and RedPath
Equityholder Representative, LLC, entered into a Fourth Amendment
To Non-Negotiable Subordinated Secured Promissory Note to extend
until Nov. 20, 2016, subject to the terms of the Fourth Amendment,
the due date for the first quarterly payment of principal under
that certain Non-Negotiable Subordinated Secured Promissory Note,
dated as of Oct. 31, 2014, by the Company and Interpace LLC, in
favor of the Equityholder Representative, on behalf of the former
equity holders of RedPath Integrated Pathology, Inc.

The Company is engaged in negotiations with the Equityholder
Representative to amend the Note to further extend the due date for
the first quarterly payment of principal under the Note and to make
certain other changes to the terms and conditions of the Note.  The
Company believes that the outcome of its negotiations with the
Equityholder Representative is likely to affect the presentation of
information and disclosures in its Quarterly Report on Form 10-Q
for the quarter ended Sept. 30, 2016, which was due on Nov. 14,
2016, and that the outcome of such negotiations should be included
in the Form 10-Q to accurately reflect the Company's status with
respect to the Note and the Company's liquidity and capital
resources.  Accordingly, the Company filed the Form 12b-25 with the
SEC because additional time is needed for the Company to complete
the Form 10-Q.

                  About Interpace Diagnostics

Headquartered in Parsippany, New Jersey, Interpace Diagnostics
Group, Inc., is focused on developing and commercializing molecular
diagnostic tests principally focused on early detection of high
potential progressors to cancer and leveraging the latest
technology and personalized medicine for patient diagnosis and
management.  The Company currently has four commercialized
molecular tests: PancraGen, a pancreatic cyst molecular test that
can aid in pancreatic cyst diagnosis and pancreatic cancer risk
assessment utilizing our proprietary PathFinder platform; ThyGenX,
which assesses thyroid nodules for risk of malignancy, ThyraMIR,
which assesses thyroid nodules risk of malignancy utilizing a
proprietary gene expression assay.

As of June 30, 2016, Interpace had $53.5 million in total assets,
$47.5 million in total liabilities and $5.99 million in total
stockholders' equity.

Interpace reported a net loss of $11.35 million in 2015 following a
net loss of $16.07 million in 2014.

BDO USA, LLP, in Woodbridge, New Jersey, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2015, citing that the Company has suffered recurring
losses from continuing operations that raise substantial doubt
about its ability to continue as a going concern.


INTREPID POTASH: Amends Note Purchase Agreement with Noteholders
----------------------------------------------------------------
Intrepid Potash, Inc., entered into a First Amendment to Amended
and Restated Note Purchase Agreement with each of the purchasers
named therein.  The Amendment amends the Amended and Restated Note
Purchase Agreement, dated as of Oct. 31, 2016, by and among
Intrepid and the Noteholders (the "A&R NPA").

The Amendment extends until Dec. 15, 2016, the deadline by which
Intrepid is required to engage a nationally recognized investment
bank for the purpose of assessing and evaluating and, if determined
appropriate by Intrepid in its business judgment, pursuing
potential strategic alternative transactions.

                       About Intrepid

Intrepid Potash -- http://www.intrepidpotash.com/-- is the only
U.S. producer of muriate of potash and supplied approximately 9% of
the country's annual consumption in 2015.  Potash is applied as an
essential nutrient for healthy crop development, utilized in
several industrial applications and used as an ingredient in animal
feed.  Intrepid also produces a specialty fertilizer, Trio(R),
which delivers three key nutrients, potassium, magnesium, and
sulfate, in a single particle.

Intrepid serves diverse customers in markets where a logistical
advantage exists; and is a leader in the utilization of solar
evaporation production, one of the lowest cost, environmentally
friendly production methods for potash.  After the idling of its
West mine in July 2016, Intrepid's production will come from three
solar solution potash facilities and one conventional underground
Trio(R) mine.

As of June 30, 2016, Intrepid had $600 million in total assets,
$203 million in total liabilities and $396 million in total
stockholders' equity.

The Company reported a net loss of $525 million in 2015 following
net income of $9.76 million in 2014.

KPMG LLP, in Denver, Colorado, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2015, citing that the Company anticipates that due
to current market conditions, they may not meet their current debt
covenant requirements in 2016, which could result in the
acceleration of debt maturities and other remedies pursuant to the
terms of the debt.  These matters raise substantial doubt about
their ability to continue as a going concern.


IONIX TECHNOLOGY: Incurs $8,000 Net Loss in Sept. 30 Quarter
------------------------------------------------------------
Ionix Technology, Inc., filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $8,179 on $844,109 of revenues for the three months ended Sept.
30, 2016, compared to a net loss of $59,217 on $0 of revenues for
the same period during the prior year.

As of Sept. 30, 2016, Ionix had $980,981 in total assets, $952,218
in total liabilities, all current, and $28,763 in total
stockholders' equity.

As of Sept. 30, 2016, the Company has a working capital of
$28,763.

The Company's total current liabilities consist primarily of
account and other payables of $952,218.  The Company's president is
committed to providing for its minimum working capital needs for
the next 12 months, and the Company does not expect previous loan
amounts to be payable for the next 12 months.  However, the Company
does not have a formal agreement that states any of these facts.
The remaining balance of the Company's current liabilities relates
to audit and consulting fees and those payments are due on demand
and the Company expects to settle those amounts on a timely basis
based upon shareholder loans to be granted to the Company in the
next 12 months.

The Company has not generated income from its operations and had an
accumulated deficit of $243,082 at Sept. 30, 2016.  These
circumstances, among others, raise substantial doubt about the
Company's ability to continue as a going concern.  The consolidated
financial statements do not include any adjustments that might
result from the outcome of this uncertainty.

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

                     https://is.gd/tJ4tf7

                          About Ionix

Ionix Technology, Inc., formerly known as Cambridge Projects Inc.,
was originally formed to pursue a business combination through the
acquisition of, or merger with, an operating business.  Since
January 2016, the Company has shifted its focus to becoming an
aggregator of energy cooperatives to achieve optimum price and
efficiency in creating and producing technology and products that
emphasize long life, high output, high energy density, and high
reliability.  By and through its wholly owned subsidiary, Well Best
and the indirect wholly owned subsidiaries, Xinyu Ionix and Taizhou
Ionix, the Company has commenced its lithium batteries operation in
China.

Paritz & Company, P.A., in Hackensack, N.J., in its report on the
consolidated financial statements for the year ended June 30, 2016,
expressed substantial doubt about the Company's ability to continue
as a going concern, citing that the Company has not generated
income and cash flow from its operations and had an accumulated
deficit of $234,903 at June 30, 2016.

The Company reported a net loss of $44,431 on $1.97 million of
revenues in 2016, compared with a net loss of $116,282 on $nil of
revenues in the prior year.


IOWA FERTILIZER: S&P Removes 'B' Rating on $1.194BB Financing
-------------------------------------------------------------
S&P Global Ratings said it removed its 'B' rating on Iowa Finance
Authority's $1.194 billion tax-exempt financing, issued for Iowa
Fertilizer Co. (IFCo), from CreditWatch, where S&P had placed it
with negative implications on April 4, 2016.  The outlook is
positive.  The secured bonds originally consisted of three tranches
maturing in 2019, 2022, and 2025.  IFCo has initiated a consent
solicitation with the bondholders for an exchange of approximately
40% bonds due 2019 for series 2016 bonds maturing in 2026 and 2027.
S&P rated the series 2016 bonds 'B', with a positive outlook.  The
recovery rating of '1' is unchanged, reflecting S&P's expectation
of very high (90%-100%) recovery in the event of default.

The positive outlook reflects S&P's favorable view of IFCo's
exchange offer to the bondholders, such that it would enable IFCo
to have more financial flexibility as the fertilizer plant is
progressing toward operations.  It is likely to enter the
commercial ramp-up phase early in the first quarter of 2017, in
S&P's opinion.  Based on S&P's assessment of the initial
transaction documentation related the offering, it believes that
the terms would provide adequate offsetting compensation to the
bondholders; as a result, S&P considers the offering not a
distressed debt exchange in accordance with the guidance defined in
S&P's criteria.

"Our positive outlook reflects our expectation that the project
will come online during the next few months and begin producing
ammonia thereafter," said S&P Global Ratings credit analyst Tony
Mok.  "Construction is about 98% complete and gas has already been
introduced to the primary reformer burners."

S&P would consider an upgrade to the ratings if the project reaches
commercial operations and begins ammonia production within S&P's
estimated time frame as well as achieves operational performance in
line with its base case projection during the ramp up period.  This
assumes that fertilizer pricing is also in line with S&P's
expectations.

S&P could revise the outlook to stable or lower the ratings if the
project experiences unforeseen issues that would lead to further
construction delays beyond S&P's expectation, or if fertilizer
prices decline and weaken cash flows in S&P's forecast.



JAMES HALLIDAY: IAMI Claims To Be Paid By 2023 Under Plan
---------------------------------------------------------
James W. Halliday, Jr., DMD, LLC, filed with the U.S. Bankruptcy
Court for the District of Alaska a first amended disclosure
statement Nov. 14, 2016, referring to the Debtor's plan of
reorganization dated Nov. 14, 2016.

Class 3 Integrated Account Management, Inc., holds a deed of trust
on the Debtor's office building at 908 Highland Avenue, Kenai,
Alaska.  The balance on the bankruptcy filing date was $357,113.59.
On the effective date the balance will be approximately $364,000.
The promissory note bears interest at the annual rate of 8.0% and
requires monthly payments of $4,319.55 plus reserves of $319 to
cover real estate taxes.  The note requires a balloon payment of
the balance on December 1, 2023.   IAMI will retain its lien on its
collateral, Tract B-4, NISSEN SUBDIVISION, MALSTONBRAUN ADDITION
1983, according to the official plat thereof, filed under Plat No.
83-99, Records of the Kenai Recording District, Third Judicial
District, State of Alaska.  The collateral is commonly known as 908
Highland Avenue, Kenai, Alaska (the Highland Office Building).   

Monthly installment payments at the Deed of Trust Note rate of
$4,319.55 plus a monthly reserve amount sufficient to cover real
estate taxes.  The current monthly reserve amount for taxes is $319
and will be adjusted at least annually depending on the amount of
taxes assessed on the property by the Kenai Peninsula Borough.

Additional monthly installment payments on pre-petition arrears and
post-petition attorney costs and fees of IAMI totaling $48,427.50
will be made on the first of each month in the amount of $1,786.00
for a period of 30 months.  The payments will be applied first to
costs and fees, then to interest, and last to principal.   

The two payments will be made by the Debtor on the first day of
each month in the required amount and the interest rate of 8% per
annum will not be changed.  The balance of all sums due under the
Deed of Trust Note, including any additional and ongoing
postconfirmation costs and attorney fees incurred will be made on
or before the maturity date of Dec. 1, 2023.   

Upon entry of an order confirming the Plan, the Debtor will sign a
deed in lieu and estoppel affidavit to be held in trust by
Professional Escrow Services, Inc.  Should default be made by the
Debtor in payment of any installments other than the final payment
under the Deed of Trust Note due on Dec. 1, 2023, or should default
be made on or any other obligation of the Debtor as described in
the Deed of Trust on the Highland Office Building, including but
not limited to the obligation to maintain insurance on the property
and to keep the property free and clear from encumbrances, and said
default will continue for a period of 30 days, then IAMI may, at
its sole discretion either 1) record the deed in lieu of
foreclosure and estoppel affidavit signed by the Debtor and held in
trust, in which case the Debtor will have 45 days from the date of
the recording of the deed in lieu to vacate the Office Building, or
2) commence non-judicial foreclosure on its deed of trust pursuant
to A.S. 34.20.070.  Notice of default will be provided by IAMI to
the debtor in writing at least 10 days before the thirtieth day of
default.  If default is made on the final payment under the Deed of
Trust Note, due on Dec. 1, 2023, then IAMI may proceed with
foreclosure under A.S. 34.20.070 only.  No order of relief or any
other order of the Court shall be necessary before enforcement of
default provisions as set out herein.  There have been three prior
recorded notices of default and sale on the Highland Office
Building by IAMI and the Debtor's right to cure is governed by A.S.
34.20.070 and A.S. 34.20.070 is not modified by the bankruptcy
petition filing.  

This claim is impaired.  

The balloon payment due in 2023, approximately $70,000, will be
made through a sale of the property or a refinancing of the debt.


Payments and distributions under the Plan will be funded by ongoing
revenue of the Debtor from the dental practice.

The First Amended Disclosure Statement is available at:

           http://bankrupt.com/misc/akb16-00088-100.pdf

                About James W. Halliday, DMD, LLC

James W. Halliday, Jr., DMD, LLC, is a limited liability company
formed under Alaska law in 2007.  The LLC owns the assets used by
its owner in his practice of dentistry in Kenai, Alaska.  It also
owns the office building where the practice is located and the home
where the owner and his family live.  

The Debtor sought protection under Chapter 11 of the Bankruptcy
Code in the District of Alaska (Anchorage) (Case No. 16-00088) on
April 14, 2016.  The petition was signed by James W. Halliday,
managing member.

The Debtor is represented by David H. Bundy, Esq., at David H.
Bundy, P.C.

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


JAMES ROTH: Ex-Employee's Claims Not Dischargeable, 9th Cir. Says
-----------------------------------------------------------------
The United States Court of Appeals for the Ninth Circuit affirmed
the bankruptcy court's rulings in the appealed cases captioned
ANICE M. PLIKAYTIS, Plaintiff-Appellee, v. JAMES MARVIN ROTH,
Defendant-Appellant, No. 14-56612 (9th Cir.) and ANICE M.
PLIKAYTIS, Plaintiff-Appellant, v. JAMES MARVIN ROTH,
Defendant-Appellee, No. 14-56700 (9th Cir.).

The federal case is a Chapter 11 bankruptcy proceeding to except
debts from discharge pursuant to 11 U.S.C. section 523(a).  The
debt at issue is the judgment obtained in state court by
Appellee/Cross-Appellant Anice Plikaytis against her former
employer Appellant/Cross-Appellee James Roth.  Both Roth and
Plikaytis appealed the district court's decisions affirming various
rulings of the bankruptcy court.

As to Appeal No. 14-56612, the Ninth Circuit held that the
bankruptcy court did not err:

     (1) In finding that Plikaytis's claims in her amended
complaint that the state court judgment was nondischargeable under
section 523(a)(2)(A), (a)(4), and (a)(6) related back to the time
of filing of her original complaint.

     (2) In its justifiable reliance determination because there is
substantial evidence in the record that Plikaytis justifiably
relied on Roth's promise, including, most convincingly, the fact
that she and Roth had been business associates for over twenty
years.  

    (3) In finding the full $2.8 million state court breach of
        contract debt nondischargeable under section 523(a)(2)
        (A).

    (4) In finding that Plikaytis's section 523(a)(4) claim was
        within the scope of her pleadings.

    (5) In failing to consider the 2008-2009 ledgers in
        calculating the defalcation debt under section 523(a)(4).


    (6) In evaluating whether Roth had fiduciary capacity under
        section 523(a)(4).
        
    (7) In finding that the emotional distress damages were
        nondischargeable under section 523(a)(6).  

As to Cross-Appeal No. 14-56700, the Ninth Circuit also held that
the bankruptcy court did not err:

    (1) In finding that the $52,000 judgment for "engag[ing] in
        wrongful conduct through withholding payment of
        mortgagers in the name of Anice Plikaytis" was subsumed
        within the $90,000 judgment for "breach of fiduciary       

        duties... by failing to pay mortgages for units held in
        the name of Anice Plikaytis."

    (2) In discharging the punitive damages and attorneys' fees
        debt.  

    (3) In refusing to award attorneys' fees because Plikaytis
        failed to properly request attorneys' fees in the
        discharge proceedings.

    (4) In dismissing Plikaytis's mechanic's lien claim.

    (5) In finding that the $52,000 and the $90,000 awards should
        not be aggregated.

A full-text copy of the Ninth Circuit's November 7, 2016 memorandum
is available at https://is.gd/7iv0hL from Leagle.com.

                    About James Marvin Roth

James Marvin Roth, based in San Diego, CA, filed a Chapter 11
petition (Bankr. S.D. Cal. Case No. 10-07659) on May 3, 2010.  The
Hon. Margaret M. Mann presides over the case.  K. Todd Curry, Esq.,
at Curry & Associates, acts as bankruptcy counsel.

In his petition, the Debtor estimated $1 million to $10 million in
both assets and liabilities.  The petition was signed by the
Debtor.


JENNIE STUART: S&P Assigns BB+ Rating on $54.5MM Tax-Exempt Bonds
-----------------------------------------------------------------
S&P Global Ratings assigned its 'BB+' long-term rating on Christian
County, Ky.'s $54.5 million series 2016A tax-exempt bonds, issued
for Jennie Stuart Medical Center (JSMC).  The outlook is negative.
"The 'BB+' rating reflects Jennie Stuart's adequate enterprise
profile characterized by a dominant market share in a comparatively
limited (population-wise) service area," said S&P Global Ratings
credit analyst Aamna Shah.

"We also assessed its financial profile as adequate, and cite
Jennie Stuart's weak financial performance for the past three
fiscal years, and a balance sheet that is adequate for the rating,
but that does not provide significant financial flexibility."

Additional rating factors contributing to the rating include,
Jennie Stuart's comparatively small size with net patient revenue
of less than $125 million, but also S&P Global Ratings expectation
that recent initiatives will begin to improve operations over the
near term.  Combined, it is S&P Global Ratings' opinion that these
credit factors lead to an indicative rating of 'bb+' and a final
rating of 'BB+'.



KINGWOOD FOOD: Plan Confirmation Hearing on Dec. 7
--------------------------------------------------
The Hon. Karen K. Brown of the U.S. Bankruptcy  Court for the
Southern District of Texas has conditionally approved Kingwood Food
Enterprises, Inc.'s original disclosure statement filed on Oct. 25,
2016, referring to the Debtor's plan of reorganization dated Oct.
24, 2016.

A hearing to consider the confirmation of the Plan will be held on
Dec. 7, 2016, at 11:00 a.m.  Objections to the confirmation of the
Plan as well as written acceptances or rejections to the Plan must
be filed by Dec. 2, 2016.

The Plan proposes to pay creditors of Kingwood Food from cash flow
from operations and future income.  The Plan provides for 1 class
of secured claims; 1 class of unsecured claims; and 1 class of
equity security holders.  Unsecured creditors holding allowed
claims will receive distributions under the Plan equal to 100% of
their claims.  The Plan also provides for the payment of
administrative and priority claims to the extent permitted by the
Code or the claimant's agreement.

Under the Plan, Class 6, Equity Security Holders of the Debtor, is
Unimpaired.  Current holders of Stock will be unaffected.
Provided, no dividends to be paid until all Class 1, Class 2, Class
3, Class 4 and Class 5 Claims have been paid as required by this
Plan.

Upon and after the Confirmation Date, implementation of the Plan,
including without limitation, any provisions requiring the payment
of Distributions, will be the responsibility of the Reorganized
Debtor.  The Reorganized Debtor will keep records of such
Distributions as required under generally accepted accounting
principles and make such records available to Creditors holding
Allowed Claims from time to time upon reasonable notice, until the
Plan is fully consummated.

From and after the Confirmation Date of the Plan, the Reorganized
Debtor is authorized to continue its normal business operations and
enter into such transactions as it deems advisable, free of any
restriction or limitation imposed under any provision of the
Bankruptcy Code, except to the extent expressly provided in the
Plan.

The Reorganized Debtor will be appointed as the disbursing agent
and shall distribute funds in accordance with the provisions of the
Plan.

The Debtor will utilize operating revenues to provide for all
payments due under the Plan on the Effective Date.

A full-text copy of the Original Disclosure Statement is available
for free at:

              http://bankrupt.com/misc/txsb16-32304-32.pdf

                         About Kingwood Food

Kingwood Food Enterprises Inc. sought protection under Chapter 11
of the Bankruptcy Code in the Southern District of Texas (Houston)
(Case No. 16-32304) on May 2, 2016.  

The petition was signed by Sajjad Pasha, president.  The case is
assigned to Judge Karen K. Brown.

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


KOPIN CORP: Receives Nasdaq Notice on Delayed 10-Q Filing
---------------------------------------------------------
Kopin Corporation on Nov. 18, 2016, disclosed that on Nov. 15, 2016
it received a NASDAQ Staff Determination letter indicating that the
Company is not in compliance with NASDAQ Marketplace Rule
5250(c)(1) because it did not timely file its Quarterly Report on
Form 10-Q for the quarter ended Sept. 24, 2016.  The notice also
indicated that Kopin's common stock is subject to delisting from
The NASDAQ Global Market unless Kopin provides a plan within 60
calendar days to NASDAQ Qualifications Panel to regain compliance.
If Kopin is unable to complete its investigation and file its Form
10-Q within 60 days it will file a plan on how it expects to regain
compliance.  However, there can be no assurance that the panel will
grant Kopin's request for continued listing of its common stock.

                           About Kopin

Kopin Corporation (NASDAQ: KOPN) -- http://www.kopin.com/-- is a
developer and provider of innovative wearable technologies and
solutions for integration into head-worn computing and display
systems to military, industrial and consumer customers.  Kopin's
technology portfolio includes ultra-small displays, optics, speech
enhancement technology, system and hands-free control software,
low-power ASICs, and ergonomically designed smart headset reference
systems.  Kopin's proprietary components and technology are
protected by more than 300 global patents and patents pending.


LATTICE INC: Delays Filing of Sept. 30 Form 10-Q
------------------------------------------------
Lattice Incorporated said that its quarterly report on Form 10-Q
could not be filed within the prescribed time period because of a
delay experienced by the Company in compiling required information
to complete its financial statements.  As a result, the Company's
auditors require additional time to complete its review of the
Company's financial statements, the Company said.

                      About Lattice Inc.

Pennsauken, New Jersey-based Lattice Incorporated provides
telecommunications services to correctional facilities and
specialized telecommunication service providers in the United
States.

Lattice reported a net loss available to common shareholders of
$5.55 million on $7.58 million of revenue for the year ended
Dec. 31, 2015, compared to a net loss available to common
shareholders of $1.82 million on $8.94 million of revenue for the
year ended Dec. 31, 2014.

As of June 30, 2016, Lattice had $3.01 million in total assets,
$10.63 million in total liabilities and a total shareholders'
deficit of $7.62 million.

Rosenberg Rich Baker Berman & Company, in Somerset, New Jersey,
issued a "going concern" qualification on the consolidated
financial statements for the year ended Dec. 31, 2015, citing that
the Company has a working capital deficit and requires additional
working capital to meet its current liabilities.  These factors
raise substantial doubt about the Company's ability to continue as
a going concern.


LEO MOTORS: To Terminate Engagement Letter with NMS Capital
-----------------------------------------------------------
Leo Motors, Inc. notified NMS Capital Advisors, LLC, a Nevada
limited liability company, together with its affiliates and
subsidiaries of its intent to terminate the Investment Banking
Engagement Letter, dated as of Dec. 16, 2015, by and between the
Company and the Investment Bank.  Pursuant to the terms of the
Engagement Letter, the Company provided written notice for an
intended early termination date of Nov. 9, 2016.  The Company will
not incur any early termination penalties, as disclosed in a
regulatory filing with the Securities and Exchange Commission.

                       About Leo Motors

Headquartered in Hanam City, Gyeonggi-do, Republic of Korea, Leo
Motors, Inc., a Nevada corporation, is currently engaged in the
research and development of multiple products, prototypes and
conceptualizations based on proprietary, patented and patent
pending electric power generation, drive train and storage
technologies.

In 2011, the Company determined its investment in Leo B&T Inc. an
investment account was impaired and recorded an expense of
$4.5 million.  During the 2012 year the Company had a net non
operating income largely from the result of the forgiveness of
debt for $1.3 million.

Leo Motors reported a net loss of US$4.49 million on US$4.29
million of revenues for the year ended Dec. 31, 2015, compared to
a net loss of US$4.48 million on US$693,000 of revenues for the
year ended Dec. 31, 2014.

As of Sept. 30, 2016, Leo Motors had US$8.27 million in total
assets, US$6.48 million in total liabilities and US$1.43 million
in total equity.

John Scrudato CPA, in Califon, New Jersey, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2015, citing that the Company has incurred
significant accumulated deficits, recurring operating losses and a
negative working capital.  This and other factors raise substantial
doubt about the Company's ability to continue as a going concern.


LIME ENERGY: Amends Schedule 13E-3 Transaction Statement
--------------------------------------------------------
Lime Energy Co. filed with the Securities and Exchange Commission
an amended Schedule 13E-3 transaction statement that was originally
filed on Oct. 7, 2016, in order to update, amend and restate the
Original Schedule 13E-3 primarily to reflect that:

  (1) the proposed reverse/forward stock split proposals that were
      referenced in the Original Schedule 13 E will be presented
      to stockholders at a special meeting of stockholders at a
      date and time to be determined (presently anticipated to be
      in December 2016 or January 2017); and

  (2) a new preliminary proxy statement pursuant to Regulation 14A
      under the Securities Exchange Act of 1934, is being filed
      concurrently with the filing of this Amendment No. 1 and is
      to be used in connection with such special meeting of
      stockholders.

A full-text copy of the regulatory filing is available at:

                   https://is.gd/eWuDn6

                    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 Sept. 30, 2016, Lime Energy had $49.72 million in total
assets, $42.87 million in total liabilities, $11.78 million in
contingently redeemable series C preferred stock, and a total
stockholders' deficit of $4.93 million.


LINC USA GP: Plan Exclusivity Period Moved to December 26
---------------------------------------------------------
Judge David R. Jones of the U.S. Bankruptcy Court for the Southern
District of Texas extended the periods during which Linc USA GP and
its subsidiaries have the exclusive right to file a Chapter 11 Plan
to Dec. 26, 2016, and solicit acceptances to such plan to Feb. 24,
2017.

The Troubled Company Reporter had earlier reported that the Debtors
asked for exclusivity extension, relating that they were still
working to close the sale of the Gulf Coast assets on Sept. 14,
2016, and they were still continuing to work diligently to close
the sales of their Wyoming and Alaska assets by the end of
September.  The Debtors related that they have devoted substantial
amount of time and effort obtaining the Court's approval of
postpetition financing, as well as marketing and selling
substantially all of their oil and gas assets in the Gulf Coast,
State of Wyoming, and State of Alaska. In addition, the Debtors
told the Court that they were also working closely with their
Prepetition Lenders and the Official Committee of Unsecured
Creditors in negotiating the key terms of a consensual plan.

                                  About Linc USA GP

Each of Linc USA GP, Linc Energy Finance (USA), Inc., Linc Energy
Operations, Inc., Linc Energy Resources, Inc., Linc Gulf Coast
Petroleum, Inc., Linc Energy Petroleum (Wyoming), Inc., Paen Insula
Holdings, LLC, Diasu Holdings, LLC, Diasu Oil & Gas Company, Inc.,
Linc Alaska Resources, LLC and Linc Energy Petroleum (Louisiana),
LLC filed a voluntary petition for relief under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 16-32689) on May
29, 2016.

Linc USA GP and its subsidiaries operate an independent oil and gas
exploration and production business with a primary focus on
conventional onshore and shallow state water properties along the
Gulf Coast of Texas and properties in the Powder River Basin of
Wyoming.  The Debtors, through their majority owned subsidiary,
Renaissance Umiat, LLC (which is not a Debtor), also own oil and
gas properties in the Umiat field on Alaska's North Slope.  The
Debtors are ultimately owned by Linc Energy Ltd., an Australian
corporation established in the year 2000, shares of which were
listed on the Singapore Stock Exchange.  Linc Energy Ltd. entered
into voluntary administration in Australia on April 15, 2016.

The Debtors estimated assets in the range of $50 million to $100
million and debts of up to $500 million.  As of the Petition Date,
the Debtors estimate that they owed approximately $5.8 million to
their vendors.

Bracewell LLP serves as the Debtors' counsel.  Kurtzman Carson
Consultants LLC acts as the Debtors' notice, claims and balloting
agent.

Judge David R Jones presides over the cases.

The Office of the U.S. Trustee on June 17 appointed three creditors
of Linc USA GP and its affiliates to serve on the official
committee of unsecured creditors.  The Creditors' Committee has
tapped McKool Smith, P.C., as legal counsel.


LINDA GRAVES JELINEK: Plan, Disclosures Hearing Set for Dec 17
--------------------------------------------------------------
Judge Janet S. Baer of the U.S. Bankruptcy Court for the Northern
District of Illinois issued an order setting a date for a combined
hearing on the adequacy of the Amended Disclosure Statement and the
confirmation of the plan filed by Linda Graves Jelinek.

The combined hearing to consider the adequacy of the Amended
Disclosure Statement and, if so approved, the confirmation of the
Plan, is set to Dec. 7, 2016 at 10:30 A.M.

Nov. 30, 2016 is the deadline to file objections to the adequacy of
the Amended Disclosure Statement and/or the confirmation of the
Plan.

Unsecured creditors' claims -- approximately $59,800 -- will be
paid in full from proceeds of sale or refinancing of Debtor's
properties, within one year after date of confirmation, plus
interest at the Applicable Federal Rate from the Petition Date.

Class 4 is comprised of non-priority general unsecured creditors
holding allowed claims.  Holders of the allowed General Unsecured
Claims in Class 4 will be paid the full amount of their allowed
claims, plus interest at the Applicable Federal Rate from the
Petition Date, in cash from net proceeds of sale of unencumbered
real estate and net proceeds of sale of encumbered real estate, as
the case may be, after payment in full of allowed administrative
claims and allowed priority tax claims.
  
Payments to creditors pursuant to the Plan will be made from the
sale of Debtor's real estate or the proceeds of the financing or
refinancing of same.

The Debtor believes that the Plan is feasible given the equity
cushion Debtor has in the Aspen Property and her Primary
Residence,
as well as the other real estate, all of which is unencumbered.  

The Amended Disclosure Statement is available at:

          http://bankrupt.com/misc/ilnb14-25220-194.pdf

               About Linda Graves Jelinek

Linda Graves Jelinek is an individual residing in Evanston,
Illinois. She is retired and owns seven (7) rental properties in
addition to her primary residence and the Aspen property.

The Debtor filed for Chapter 11 bankruptcy protection (Bankr. N.D.
Ill. Case No. 14-25220) on July 8, 2014, and is represented by
David P. Leibowitz, Esq., at Lakelaw, in Chicago, Illinois.


LRI HOLDINGS: Restructuring Support Agreement Approved
------------------------------------------------------
BankruptcyData.com reported that the U.S. Bankruptcy Court approved
LRI Holdings' motion to assume a restructuring support agreement.
As previously reported, "Pursuant to the Restructuring Support
Agreement, the Supporting Parties have agreed to support a
restructuring transaction that will accomplish the goal of
materially deleveraging the Debtors' balance sheet and provide much
needed liquidity to the Debtors' business.  At the same time, the
Restructuring Support Agreement facilitates financing to provide a
stable financial foundation on which the Debtors can implement an
operational restructuring to allow the business to stem losses and
return to financial success.  With the support of all of the
Revolving Facility Lenders and holders of 83.9% of the
approximately $378.0 million in principal amount of Notes, the
Restructuring Support Agreement binds the Supporting Parties to a
series of transactions, including committed exit financing, that
will deleverage the company by over $300 million.  Importantly, the
Restructuring Support Agreement has backstop commitments from the
Supporting Noteholders to backstop the funding of the 'new money'
portion of the debtor in possession financing facilities (the 'DIP
Facilities'), which will be junior to the obligations of the Credit
Agreement, for the lenders under the DIP Facilities to roll-over
that facility to an exit facility upon emergence from chapter 11,
and for the Supporting Lenders to backstop an exit facility that
will take-out the existing obligations under the Credit Agreement
at closing.  Thus, the prompt assumption of the Restructuring
Support Agreement is critical to the Debtors' success in completing
their contemplated restructuring and expeditiously emerging from
chapter 11 to the benefit of the Debtors' creditors and their
estates."

               About Roadhouse Holding Inc.

Roadhouse Holding Inc. was founded in 2010 and is based in New
York. Roadhouse Holding, along with seven affiliates which include
Logan's Roadhouse Inc. and LRI Holdings Inc., filed for Chapter 11
bankruptcy protection (Bankr. D. Del. Case No. 16-11819) on Aug. 8,
2016.

Roadhouse Holding, et al., are represented by Robert S. Brady,
Esq., Edmon L. Morton, Esq., Ryan M. Bartley, Esq., Elizabeth S.
Justison, Esq., and Norah M. Roth-Moore, Esq., at Young Conaway
Stargatt & Taylor, LLP.

Hilco Real Estate, LLC, serves as real estate advisor to the
Debtors; Jefferies LLC as financial advisor; and Donlin Recano &
Company as claims and noticing agent.

Andrew Vara, acting U.S. trustee for Region 3, on August 19, 2016,
appointed five creditors of Roadhouse Holding Inc. to serve on the
official committee of unsecured creditors.  Kelley Drye
& Warren LLP has been tapped as lead counsel to the Committee while
Pachulski Stang Ziehl & Jones LLP has been tapped as co-counsel.
FTI Consulting, Inc. serves as financial advisor.

Dechert LLP and Ashby & Geddes, P.A., serve as counsel to (a)
BOKF, NA, as successor to Wells Fargo Bank, National Association,
as trustee and collateral agent under that certain Senior Secured
Notes Indenture, dated as of Oct. 4, 2010; (b) Carl Marks
Management Company, LLC; and (c) Marblegate Asset Management, LLC.



LSB INDUSTRIES: Releases November 2016 Investor Presentation
------------------------------------------------------------
On Nov. 14, 2016, LSB Industries, Inc., posted an Investor
Presentation, dated November 2016 on the Company's website,
http://investors.lsbindustries.com.

                   About LSB Industries, Inc.

LSB Industries, Inc. and its subsidiaries are involved in
manufacturing and marketing operations.  The Companies are
primarily engaged in the manufacture and sale of chemical products
and the manufacture and sale of water source and geothermal heat
pumps and air handling products.

LSB reported a net loss attributable to common stockholders of
$38.03 million in 2015, net income attributable to common
stockholders of $19.33 million in 2014 and net income attributable
to common stockholders of $54.66 million in 2013.

As of Sept. 30, 2016, LSB had $1.38 billion in total assets,
$727.61 million in total liabilities and $137.98 million in
redeemable preferred stock, and $520 million in total stockholders'
equity.

                         *    *     *

As reported by the TCR on Oct. 17, 2016, S&P Global Ratings lowered
its rating on Oklahoma City-based LSB Industries Inc. to 'CCC' from
'B-'.  "Despite using the climate control business sale proceeds to
repay some debt, the company's metrics have weakened due to plant
operational issues and a depressed pricing environment, which have
led to depressed EBITDA expectations," said S&P Global Ratings
credit analyst Allison Schroeder.

As reported by the TCR on Nov. 21, 2016, Moody's Investors Service
downgraded LSB Industries, Inc.'s corporate family rating (CFR) to
Caa1 from B3, its probability of default rating to Caa1-PD from
B3-PD, and the $375 million guaranteed senior secured notes to Caa1
from B3.  LSB's Caa1 CFR rating reflects Moody's expectations that
the combined uncertainty over operational reliability and the
compressed margins, resulting from the low nitrogen fertilizer
pricing environment, could result in continued weak financial
metrics for a protracted period.


MAHI LLC: Lender to Recoup 46% Under Liquidation Plan
-----------------------------------------------------
Mahi, LLC, and OM Hospitality, LLC, filed with the U.S. Bankruptcy
Court for the Middle District of Louisiana a joint Chapter 11 plan
of liquidation and accompanying disclosure statement dated Oct. 25,
2016.

The purpose of the Plan is to create a mechanism for the
liquidation of the Debtors' businesses, the resolution of Claims,
and the Distribution of the proceeds of the sale of the Hotel
Properties and Gross Assets to Holders of Allowed Claims in
accordance with the priority scheme created by the Bankruptcy Code.
The Debtors believe that liquidation of their businesses pursuant
to the Plan will provide greater Distributions to Holders of
Allowed Claims than would a liquidation of the Debtors after the
conversion of the case and the appointment of a Chapter 7 trustee.
The Plan Proponents, therefore, believe that Creditors and Holders
of Equity Interests will realize a more favorable recovery of value
than would occur under an alternative wind-down and liquidation.

United Community Bank's Class 1 Claim will be paid from the sales
proceeds of the Hotel Properties.  Harikrupa Hospitality will grant
United Community Bank a first ranking mortgage, Lien, and/or such
other security interest in or upon the Hotel Properties as may be
necessary to secure repayment of the Harikrupa Loan.  The bank is
estimated to recover 46% of its secured claim.

The Debtors estimate the amount of General Unsecured Claims that
will be allowed will be $108,474.96 plus the unsecured portion of
the Claim by United Community Bank.  In their schedules, the
Debtors scheduled $436,332.24 in General Unsecured Claims.
However, this amount includes the Claims of Insiders, Affiliates
and/or Related Parties ($327,857.28).  Also, United Community Bank
is the Holder of a General Unsecured Claim.  Thus, after removal of
the Claims of Insiders, Affiliates and/or Related Parties and
United Community Bank's Unsecured deficiency Claim, there are Non-
Insider/Affiliate/UCB Creditors holding approximately $108,474.96
in General Unsecured Claims.

Funds needed to make Cash payments on the Effective Date under the
Plan will come from the Gross Assets. The Debtors shall pay all
Allowed Administrative Expense Claims prior to the Effective Date
from their occupancy fees revenues. After payment of Allowed
Administrative Expense Claims, the Debtors shall pay Class 4 Claims
in full in Cash from the Gross Assets (excluding the Hotel
Properties) on the Effective Date.

A full-text copy of the Disclosure Statement is available at:

          http://bankrupt.com/misc/lamb16-10601-159.pdf

             About Mahi and OM Hospitality

Mahi, LLC, and OM Hospitality, LLC, sought protection under Chapter
11 (Bankr. M.D. La. Case Nos. 16-10601 and 16-10602) on May 24,
2016. The petitions were signed by Bhagirath Joshi, manager. The
cases are jointly administered. The cases are assigned to Judge
Douglas D. Dodd. The Debtors are represented by Ryan James
Richmond, Esq., at Stewart Robbins & Brown LLC. The Debtors
estimated both assets and liabilities in the range of $1 million to
$10 million.


MANHATTAN SCIENTIFICS: Cumulative Losses Raise Going Concern Doubt
------------------------------------------------------------------
Manhattan Scientifics, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, disclosing a
net loss of $1.35 million on $107,000 of revenue for the three
months ended September 30, 2016, compared to a net loss of $1.09
million on $nil of revenue for the same period in 2015.

For the nine months ended September 30, 2016, the Company recorded
a net loss of $5.34 million on $108,000 of revenue, compared to a
net income of $9.43 million on $37,000 of revenue for the same
period last year.

The Company's balance sheet at September 30, 2016, showed total
assets of $8.53 million, total liabilities of $3.98 million, $1.06
million in mezzanine equity series D convertible preferred, and a
stockholders' equity of $3.49 million.

As of September 30, 2016 the Company has cumulative losses totaling
$60,568,000 and negative working capital of $149,000.  The Company
had a net loss of $5,337,000 for the nine months ended September
30, 2016.  Because of these conditions, the Company will require
additional working capital to develop business operations.  These
conditions raise substantial doubt about the Company's ability to
continue as a going concern.

A full-text copy of the Company's Form 10-Q is available at:
                
                   https://is.gd/AwTi5f

Manhattan Scientifics, Inc., operates as a technology incubator
that seeks to acquire, develop and commercialize life-enhancing
technologies in various fields, with emphasis in the areas of
nanotechnology.  To achieve this goal, the Company continues to
identify emerging technologies through strategic alliances with
scientific laboratories, educational institutions, scientists and
leaders in industry and government.



MATRIX LUXURY: Unsecureds To Be Paid From Residence Sale Proceeds
-----------------------------------------------------------------
Matrix Luxury Homes LLC filed with the U.S. Bankruptcy Court for
the District of Arizona a disclosure statement

Class 10 Unsecured Claims includes eight unsecured creditors
totaling $70,646.77.  This class includes liquidated, un-liquidated
claims and disputed claims.  The holders of the claims will be paid
the amount of their approved claims, from the proceeds of the sale
of a residence located at 10801 E Happy
Valley Road No. 88, Scottsdale 85255, in Maricopa County, Arizona.
The claims within this class share the last priority to be paid
proportionately to the amount of their approved claims.  This claim
is impaired.

The Disclosure Statement is available at:

           http://bankrupt.com/misc/azb16-09455-64.pdf

The Plan was filed by the Debtor's counsel:

     A1lan D. NewDelman, Esq.
     ALLAN D. NEWDELMAN, P.C.
     80 East Columbus Avenue
     Phoenix, Arizona 85012
     Tel: (602) 264-4550
     E-mail: anewdelman@adnlaw.net

                    About Matrix Luxury Homes

Matrix Luxury Homes, LLC, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Ariz. Case No. 16-09455) on Aug. 16,
2016.  The petition was signed by Troy Hudspeth, manager.  

The case is assigned to Judge Brenda K. Martin.

At the time of the filing, the Debtor estimated its assets and
liabilities at $1 million to $10 million.

A committee of unsecured creditors has not yet been appointed.


MAXUS ENERGY: NJ Environmental Litigation Remanded to State Court
-----------------------------------------------------------------
Judge Christopher S. Sontchi of the United States Bankruptcy Court
for the District of Delaware granted Repsol, S.A.'s motion for
remand of several claims in the adversary proceeding captioned NEW
JERSEY DEPARTMENT OF ENVIRONMENTAL PROTECTION, et al., Plaintiff,
v. OCCIDENTAL CHEMICAL CORPORATION, et al., Defendants, Adv. Pro.
No. 16-51025(CSS)(Bankr. D. Del.).

Repsol is a named defendant in a civil action (the "NJ
Environmental Litigation") that was removed to the bankruptcy court
by Occidental Chemical Corporation, another named defendant in the
NJ Environmental Litigation, as well as the debtors' largest
unsecured creditor.  The adversary proceeding consists of the NJ
Environmental Litigation, a civil action previously pending before
the Superior Court of New Jersey for 11 years before its removal.

The NJ Environmental Litigation arose as an action by the State of
New Jersey and the Administrator of the New Jersey Spill
Compensation Fund against certain defendants including OCC, Tierra
Solutions, Inc., Maxus Energy Corporation, Maxus's parent company
YPF, Inc., and YPF's former parent company, Repsol, relating to
environmental liability stemming from pollution of the Passaic
River in New Jersey.

The NJ Environmental Litigation, as it currently stands before the
bankruptcy court, can be summarized as follows: claims brought by
OCC alleging YPF is the alter ego of Maxus, (the "YPF Claims"),
alter-ego-based claims brought by OCC against Repsol based on
different facts (the "OCC Claims"), and a Counter-Claim brought by
Repsol against OCC under the New Jersey Spill Act (the "Repsol
Counter-Claim").  The claims removed by OCC to the bankruptcy court
(the "Removed Claims") are therefore comprised of the YPF Claims,
the OCC Claims, and the Repsol Counter-Claim.

Repsol requested that the bankruptcy court remand the OCC Claims
and Repsol Counter-Claim (the "Claims") to the New Jersey Court.
The YPF Claims are not at issue in the motion to remand.

Repsol argued that the bankruptcy court should abstain from hearing
the OCC Claims and Repsol Counter-Claim and remand those
proceedings to the New Jersey Court under 28 U.S.C. sections
1334(c)(1), (c)(2), and 1452(b).  OCC argued in opposition that
Repsol's motion for remand must be denied for two primary reasons:
(i) the OCC Claims constitute property of the bankruptcy estate,
resulting in subject matter jurisdiction over those claims and no
basis upon which the court should abstain from hearing them; and
(ii) retaining jurisdiction over the Claims would inure to the
benefit of the estate by enabling its efficient administration.

Judge Sontchi found that the OCC Claims are, in fact, property of
the bankruptcy estate and the proper party to bring them is the
debtors.  However, the fact that the OCC Claims are property of the
estate is not dispositive with respect to the questions of
abstention and remand.  Because abstention is not only mandated,
but could be exercised permissively by the bankruptcy court as
well, Judge Sontchi granted Repsol's motion to remand both the OCC
Claims and Repsol Counter-Claim to the New Jersey Court.

Judge Sontchi will abstain from hearing the OCC Claims and Repsol
Counter-Claim and remand such claims to the New Jersey Court as
required by 28 U.S.C. section 1334(c)(2).  Additionally, the judge
held that equitable considerations under 28 U.S.C. section
1334(c)(1) and 1452(b) also warrant remand to the New Jersey
Court.

The bankruptcy case is In re: MAXUS ENERGY CORPORATION, et al.,
Debtors, Case No. 16-11501(CSS), Jointly Administered(Bankr. D.
Del.).

A full-text copy of Judge Sontchi's November 15, 2016 opinion is
available at http://bankrupt.com/misc/deb16-11501-560.pdf

Occidental Chemical Corporation is represented by:

          Mark D. Collins, Esq.
          Robert C. Maddox, Esq.
          Brendan J., Schlauch, Esq.
          RICHARDS LAYTON & FINGER, P.A.
          One Rodney Square
          920 North King Street
          Wilmington, DE 19801
          Tel: (302)651-7700
          Fax: (302)651-7701
          Email: collins@rlf.com
                 maddox@rlf.com
                 schlauch@rlf.com

            -- and --

          Kathy D. Patrick, Esq.
          GIBBS & BRUNS LLP
          1100 Louisiana Street, Suite 5300
          Houston, TX 77002
          Tel: (713)650-8805
          Fax: (713)750-0903
          Email: kpatrick@gibbsbruns.com

            -- and --

          J. Christopher Shore
          Harrison L. Denman, Esq.
          WHITE & CASE LLP
          1155 Avenue of the Americas
          New York, NY
          Email: cshore@whitecase.com
                 hdenman@whitecase.com

            -- and --

          Jerome C. Roth, Esq.
          MUNGER, TOLLES & OLSON LLP
          560 Mission Street, 27th Floor
          San Francisco, CA 94105
          Tel: (415)512-4000
          Email: jerome.roth@mto.com

Repsol, S.A. is represented by:

          Robert J. Dehney, Esq.
          Curtis S. Miller, Esq.
          Erin R. Fay, Esq.
          MORRIS, NICHOLS, ARSHT & TUNNELL LLP
          1201 North Market Street
          Wilmington, DE 19899
          Tel: (302)658-9200
          Fax: (302)658-3989
          Email: rdehney@mnat.com
                 cmiller@mnat.com
                 efay@mnat.com

            -- and --

          Robert Lemons, Esq.
          WEIL, GOTSHAL & MANGES LLP
          767 Fifth Avenue
          New York, NY 101053
          Tel: (212)310-6716
          Email: robert.lemons@weil.com

            -- and --

          Edward Soto, Esq.
          1395 Brickell Avenue, Suite 1200
          Miami, FLA 33131
          Email: edward.soto@weil.com

Debtors and Debtors-in-Possession are represented by:

          M. Blake Cleary, Esq.
          Joseph M. Barry, Esq.
          Justin P. Duda, Esq.
          YOUNG CONAWAY STARGATT & TAYLOR LLP
          Rodney Square
          1000 North King Street
          Wilmington, DE 19801
          Tel: (302)571-6600
          Fax: (302)571-1253
          Email: mbcleary@ycst.com
                 jbarry@ycst.com
                 jduda@ycst.com
                 
            -- and --

          James M. Peck, Esq.
          Lorenzo Marinuzzi, Esq.
          Jennifer L. Marines, Esq.
          Jordan A. Wishnew, Esq.
          MORRISON & FOERSTER LLP
          250 West 55th Street
          New York, NY 10019
          Tel: (212)468-8000
          Fax: (212)468-7900
          Email: jpeck@mofo.com
                 lmarinuzzi@mofo.com
                 jmarines@mofo.com
                 jwishnew@mofo.com

                    About Maxus Energy

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

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

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


MCS GROUP: S&P Affirms 'B' CCR; Outlook Stable
----------------------------------------------
S&P Global Ratings said that it affirmed its 'B' corporate credit
rating on Lewisville, Texas-based MCS Group Subholdings LLC.  The
outlook is stable.

At the same time, S&P affirmed its 'B+' issue-level ratings on the
company's first-lien credit facilities, including a $20 million
revolving facility expiring 2018 and $340 million term loan due
2019.  S&P also affirmed its '2' recovery ratings on the first-lien
facilities, which indicates S&P's expectation for lenders to
receive meaningful (70% to 90%, at the upper end of the range)
recovery in the event of payment default.

S&P estimates the company's adjusted debt was approximately
$287 million as of Sept. 30, 2016.

The ratings affirmation reflects S&P's expectations of continued
gradual debt reduction on the back of good free cash flow
generation.  It also reflects strengthening EBITDA margins
resulting from ongoing cost initiatives, which offset the negative
effects on MCS Group Subholdings' top line from lower volume from a
major customer.

S&P's ratings reflect the company's small scope and narrow focus in
the residential mortgage service industry and financial sponsor
ownership that could lead to higher financial leverage over time.
The company lacks service and geographic diversity, leaving the
company vulnerable to changes in the industry and economy.
Customers are concentrated among financial firms providing
residential mortgage loan services.  Risks to the company's
performance also include event risk that would harm the company's
reputation leading to unexpected client attrition.  S&P considers
the company's nationwide contracts and IT infrastructure as modest
barriers to entry to provide field services to regulated financial
institutions.  In addition, the company competes against the
in-house operations of mortgage providers and the inventory of U.S.
mortgages in default is shrinking from the recent highs in the last
five years, which could restrict top-line growth.  However, field
services are required per federal regulations to maintain
properties to stem blight providing a modest tailwind.

S&P expects owner TDR Capital will continue to be supportive of the
company's acquisition strategy to diversify sources of revenue, as
was demonstrated by its providing incremental capital to fund the
group's most recent acquisitions.

Although MCS Group Subholding's financial leverage ratios are
currently strong for the rating, S&P believes that TDR Capital may
either extract funds through an extraordinary dividend or sell the
company to another sponsor, scenarios that are likely to lead to
higher financial leverage (such as debt to EBITDA above 5x) over
the rating horizon.

The stable outlook reflects S&P's expectation that MCS Group
Subholdings will sustain strong credit metrics over the outlook
horizon, but S&P considers the risk of re-leveraging high due to
financial sponsor ownership.  The stable outlook also reflects
S&P's expectation the company's operating performance will continue
to improve from solid expense management, satisfactory integration
capability, and lower debt levels over the next year. S&P projects
leverage to be below 4x over the next year as the company reduces
debt, continues to invest in the business, maintains ample
liquidity, diversifies into the non-default services, and
integrates acquisitions.

Downside Scenario

S&P could lower its ratings over the next year if operating
performance weakens such that S&P's assessment of the covenant
cushion declines below 15%, leading to pressure in its liquidity
profile, or if free operating cash flow turns negative.  For
example, this could be the effect of an information technology (IT)
intrusion leading to unexpected customer attrition that cannot be
replaced, or the inability to achieve planned synergies leading to
lower cash flow and profitability.  S&P estimates this could occur
if EBITDA declines by about 45% (assuming current debt and
EBITDA.)

Upside Scenario

Although unlikely over the forecast horizon, S&P could raise its
ratings if financial sponsor ownership reduces materially and
credit metrics improve such that debt-to-EBITDA leverage is
sustained below 4x.  Moreover, a more diversified revenue base and
demonstrated earnings stability (for example, by lower reliance on
field service revenue) could lead to a positive rating action.  S&P
estimates that EBITDA would need to improve by about 40% from
current levels together with continuing debt amortization and
integrating planned acquisitions (assuming current debt and
EBITDA.)



MEDICAL PROPERTIES: S&P Affirms BB+ CCR Amid Tenant Liquidity Issue
-------------------------------------------------------------------
S&P Global Ratings affirmed its 'BB+' corporate credit rating on
Medical Properties Trust Inc. and its operating partnerships, MPT
Operating Partnership L.P. and MPT Finance Corp. (collectively,
Medical Properties Trust).  The outlook is stable.

At the same time, S&P affirmed its 'BBB-' issue-level rating on
Medical Properties Trust's senior unsecured notes.  S&P's recovery
rating on this debt remains '2', indicating its expectation for a
substantial recovery in the event of payment default in the lower
half of the 70% to 90% range.

"The affirmation reflects our view that despite liquidity issues at
Medical Properties Trust's sixth-largest tenant, Adeptus Health
Inc., we believe Medical Properties Trust will continue to generate
stable cash flows and maintain credit protection measures at
current levels," said credit analyst Sarah Sherman.  "Medical
Properties Trust's business risk includes its mid-sized portfolio
focused on hospital facilities, as well as high tenant
concentration, despite recent improvement.  Further, S&P
acknowledges the comparatively high rent coverage (approximately
3.5x) levels which help to offset the risk of asset obsolescence.
Hospitals are highly specialized facilities with limited ability
for repurposing, increasing the risk the facility could become
obsolete or result in low occupancy for an extended period of
time."

The stable outlook on Medical Properties Trust Inc. reflects S&P's
expectation that the company will continue to gradually diversify
its portfolio and maintain stable to improving cash flow as a
result of solid rent coverage and low lease rollover.  In addition,
S&P expects the company will continue to finance acquisitions in a
leverage-neutral manner.

S&P would consider lowering the ratings of Medical Properties Trust
if troubled tenants lead to either sustained missed rent payments
or potential rent cuts.  Additionally S&P would consider lowering
the ratings if Medical Properties Trust aggressively pursues
debt-financed acquisitions such that credit metrics deteriorate.
Credit measure thresholds for a downgrade include FCC of 2.1x or
below, debt to EBITDA above 7.5x, and debt to unappreciated capital
exceeding 55%.

Consideration for an upgrade remains unlikely at this time given
the still-high tenant concentration and specialty purpose nature of
its assets, which carry notable government reimbursement risk.
However, S&P would consider an upgrade if the company significantly
increases its scale from current levels in a leverage neutral
fashion, while further diversifying its tenant mix.  S&P would also
consider an upgrade if financial metrics improve significantly such
that debt to EBITDA declines below 4.5x, with FCC above 3.1x and
debt to undepreciated capital in the 30% to 40% range.


MENDOCINO BREWING: Needs More Financing to Continue as Going Concen
-------------------------------------------------------------------
Mendocino Brewing Company, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, disclosing a
net loss of $472,000 on $6.97 million of sales for the three months
ended September 30, 2016, compared to a net income of $9,600 on
$8.54 million of sales for the same period in 2015.

For the nine months ended September 30, 2016, the Company recorded
a net loss of $1.33 million on $21.66 million of sales, compared to
a net loss of $750,100 on $23.61 million of sales for the same
period last year.

The Company's balance sheet at September 30, 2016, showed total
assets of $15.27 million, total liabilities of $18.19 million, and
a stockholders' deficit of $2.92 million.

The continuation of the Company as a going concern is dependent
upon continued financial support from Catamaran Services, Inc.
and/or United Breweries Holdings, Ltd., an Indian public limited
company (UBHL), its ability to obtain other debt or equity
financing, and generating profitable operations from the Company's
future operations.  However, management cannot provide any
assurances that the Company will be successful in accomplishing any
of its plans.  These factors raise substantial doubt regarding the
Company's ability to continue as a going concern.

Operating results from the nine months ended September 30, 2016 are
not necessarily indicative of the results that may be expected for
the year ending December 31, 2016 or any future period.

A full-text copy of the Company's Form 10-Q is available at:
                
                   https://is.gd/yziEaQ

Mendocino Brewing Company, Inc. (MBC), operates through two
subsidiaries: Releta Brewing Company, LLC, and United Breweries
International (UK) Limited ("UBIUK").  In the United States, MBC
and Releta operate two breweries that produce beer and malt
beverages for the specialty "craft" segment of the beer market.
The Company brews several brands, of which Red Tail Ale is the
flagship brand.  MBC's United Kingdom subsidiary, UBIUK, is a
holding company for Kingfisher Beer Europe Limited ("KBEL"). KBEL
is a distributor of alcoholic beverages, mainly Kingfisher Lager
Beer, in the UK and Europe.




MOBILEDIRECT INC: Needs Until Jan 12 to File Plan Amid Sale Talks
------------------------------------------------------------------
MobileDirect, Inc. asks the U.S. Bankruptcy Court for the District
of Montana to extend its exclusive period to file a plan, from Dec.
12, 2016, through and inclusive of Jan. 12, 2017.  

The Debtor relates that it is currently in discussions and
negotiations with a prospective purchaser of its intellectual
property.  Accordingly, the Debtor tells that the requested
exclusivity extension will give the Debtor an opportunity finalize
the terms and conditions of a sale of its intellectual property to
its prospective purchaser.  The Debtor further tells the Court that
the terms and conditions of the sale will be included either in a
Chapter 11 plan of liquidation or a 363 motion for sale of the IP
free and clear of liens and interests.

                              About MobileDirect Inc.

MobileDirect Inc. filed a Chapter 11 petition (Bankr. D. Mont. Case
No. 16-60596), on June 13, 2016.  The Petition was signed by Clyde
Neu, Co-Founder and CFO.  The Debtor is represented by Steve M.
Johnson, Esq. at Church, Harris, Johnson and Williams, P.C.  At the
time of filing, the Debtor had less than $50,000 in estimated
assets and  $100,000 to $500,000 in estimated liabilities.

Anderson ZurMuehlen was employed as accountants to the Debtor.


MODULAR SPACE: S&P Withdraws 'SD' Rating on Missed Interest Payment
-------------------------------------------------------------------
S&P Global Ratings said that it has withdrawn all of its ratings on
Modular Space Corp.

"On Sept. 9, 2016, we lowered our corporate credit rating on
Modular Space Corp. to 'SD' (selective default) and our issue-level
rating on the company's senior secured notes to 'D' when it
announced that it would not make a required interest payment on the
notes," said S&P Global credit analyst Jeff Ward.

"We have now withdrawn all of our ratings on the company."



MONSTER DIGITAL: Recurring Losses Raise Going Concern Doubt
-----------------------------------------------------------
Monster Digital, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q, disclosing a net loss
of $1.83 million on $779,000 of net sales for the three months
ended September 30, 2016, compared to a net loss of $1.47 million
on $4.11 million of net sales for the same period in 2015.

For the nine months ended September 30, 2016, the Company recorded
a net loss of $4.95 million on $3 million of net sales, compared to
a net loss of $5.74 million on $6.83 million of net sales for the
same period last year.

The Company's balance sheet at September 30, 2016, showed total
assets of $8.59 million, total liabilities of $5.54 million, all
current, and a stockholders' equity of $3.05 million.

As of September 30, 2016, the Company has incurred cumulative net
losses from inception of approximately $31 million and has incurred
a year to date loss of approximately $5 million.  These
circumstances raise substantial doubt as to the Company's ability
to continue as a going concern.  

A full-text copy of the Company's Form 10-Q is available at:
                
                   https://is.gd/d156mL

Monster Digital, Inc. (MDI), and its subsidiary, SDJ Technologies,
Inc. ("SDJ"), is an importer of high-end memory storage products,
flash memory and action sports cameras marketed and sold under the
Monster Digital brand name acquired under a long-term licensing
agreement with Monster, Inc.  The Company sources its products from
China, Taiwan and Hong Kong.


NANOVIBRONIX: Incurs $606,000 Net Loss in Third Quarter
-------------------------------------------------------
NanoVibronix, Inc., filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of US$606,000 on US$61,000 of revenues for the three months ended
Sept. 30, 2016, compared to a net loss of US$1.04 million on
US$40,000 of revenues for the three months ended Sept. 30, 2015.

For the nine months ended Sept. 30, 2016, the Company reported
a net loss of US$1.71 million on US$180,000 of revenues compared to
a net loss of US$2.10 million on US$108,000 of revenues for the
three months ended Sept. 30, 2015.

As of Sept. 30, 2016, Nanovibronix had US$924,000 in total assets,
US$2.52 million in total liabilities and a total stockholders'
deficiency of US$1.60 million.

"We continue to incur losses and negative cash flows from operating
activities.  We have incurred losses in the amount of $1,711,000
during the nine month period ended September 30, 2016, and have
accumulated negative cash flow from operating activities of
$1,107,000 for the nine month period ended September 30, 2016. We
expect to continue to incur losses and negative cash flows from
operating activities and as a result, we will not have sufficient
resources to fund our operation for the next twelve months.  These
conditions raise doubts about our ability to continue as a going
concern.  During the next twelve months management expects that the
Company will need to raise additional capital to finance its losses
and negative cash flows from operations for the next twelve months
and may continue to be dependent on additional capital raising as
long as our products do not reach commercial profitability.

"During the nine months ended September 30, 2016, and through
November 14, 2016, we met our short-term liquidity requirements
from our existing cash reserves.  Our future capital requirements
and the adequacy of our available funds will depend on many
factors, including our ability to successfully commercialize our
products, our development of future products and competing
technological and market developments.  We intend to continue to
use our existing cash reserves use to meet our short-term liquidity
requirements as well as to advance our long-term plans. It is our
current belief that if we do not continue to see significant
increases in revenues, or if we are unable to raise additional
capital at a later time in the current year, we will need to reduce
our operating budget as well as sales and marketing expenses which
may impair our ability to execute our business objectives.  It
should also be noted that there are no assurances that we would be
able to raise additional capital on terms favorable to us."

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

                      https://is.gd/jDBHhl

                       About NanoVibronix

NanoVibronix Inc. -- http://www.nanovibronix.com/-- is a medical
device company headquartered in Elmsford, NY, with research and
development in Nesher, Israel, that
is focused on developing medical devices utilizing its proprietary
and patented low intensity surface acoustic wave technology.  The
company's groundbreaking technology allows for the creation of
low-frequency ultrasound waves that can be utilized for a variety
of medical applications.  The devices accelerate wound and soft
tissue healing, disrupt biofilms and bacteria colonization, while
providing pain relief.  The devices can also be administered at
home, without the assistance of medical professionals.  

The Company reported a net loss of US$2.88 million in 2015
following a net loss of US$2.64 million in 2014.


NEOVASC INC: Incurs $29.1 Million Net Loss in Third Quarter
-----------------------------------------------------------
Neovasc Inc. reported a loss of US$29.13 million on US$3.03 million
of revenues for the three months ended Sept. 30, 2016, compared to
a loss of US$7.63 million on US$2.47 million of revenues for the
three months ended Sept. 30, 2015.

For the nine months ended Sept. 30, 2016, the Company reported a
net loss of US$123.71 million on US$6.75 million of revenues
compared to a net loss of US$19.34 million on US$7.70 million of
revenues for the same period during the prior year.

As of Sept. 30, 2016, Neovasc had US$33.83 million in total assets,
US$93.45 million in total liabilities and a total deficit of
US$59.61 million.

"While the Company has faced litigation headwinds, we remain
committed to advancing our core technologies in order to provide
new treatments for patients suffering from advanced heart disease,"
commented Neovasc CEO, Alexei Marko.  "Reducer continues to
demonstrate its clinical relevance with a seventh consecutive
quarter of sales growth and Tiara's clinical results and physician
feedback continue to be very encouraging as we advance the product
towards commercialization in order to provide a new treatment for
mitral valve disease."

                     CardiAQ Litigation Update

Subsequent to the quarter's end, the findings of the Federal
District Court regarding several post-trial motions stemming from a
trial jury's verdict in May 2016 were announced.  CardiAQ filed
suit against Neovasc in the United States District Court for the
District of Massachusetts in 2014.  The order ruled in favor of
CardiAQ on the issue of inventorship of Neovasc's '964 Patent.  At
the same time, the judge denied CardiAQ's motion for an injunction
that would have shut down the development of Tiara, thus allowing
Neovasc to continue development and commercialization of Tiara,
while also denying Neovasc's motions for a new trial.  The judge
upheld the jury's verdict and US$70 million award against Neovasc,
and awarded US$21 million in enhanced damages to that award.
Interest costs and fees may be due on any award granted by the
court.

The Company intends to continue to vigorously defend itself in the
litigation with CardiAQ and as such the outcome of these matters,
including whether the Company will be required to pay some or all
of the US$91 million awards, is not currently determinable.  Upon
entry of a judgment by the trial court, Neovasc will immediately
seek to stay the payment of the US$91 million damages awards, until
after an appeal to the United States Court of Appeals for the
Federal Circuit is complete.  The Company will appeal the validity
of the awards, as well as the ruling on inventorship.  The
appellate process may take up to a year to complete.

Litigation is inherently uncertain.  Therefore, until these matters
have been resolved to their ultimate conclusion by the appropriate
courts, the Company cannot give any assurances as to the outcome.
If the Company is unsuccessful in its defense of these claims,
including any appeal of the verdict in the litigation with CardiAQ,
or is unable to settle the claims in a manner satisfactory to the
Company, it may be faced with significant monetary damages that
could exceed its resources, the loss of intellectual property
rights and damage to its competitive position.  These circumstances
indicate the existence of material uncertainty and cast substantial
doubt about the Company's ability to continue as a going concern.
Additional information regarding the ongoing litigation can be
found in Management's Discussion and Analysis of Financial
Condition and Results of Operations for the three and nine months
ended September 30, 2016 and 2015, which is available on the
Company's website at www.neovasc.com and on SEDAR at www.sedar.com
and EDGAR at www.sec.gov.  

          Discussion of Liquidity and Capital Resources

Neovasc finances its operations and capital expenditures with cash
generated from operations, lines of credit and equity financings.
As at Sept. 30, 2016, the Company had cash and cash equivalents of
$25,480,683 compared to cash and cash equivalents of $55,026,171 as
at Dec. 31, 2015.

Cash used in operating activities for the three months ended
Sept. 30, 2016, was $11,117,649, compared to $6,916,065 for the
same period in 2015.  Cash expenditures on litigation (litigation
expenses less change in accounts payable related to litigation)
were $4,309,062 and within accounts payable there was $975,644 of
litigation expenses incurred but not paid for in connection with
the litigation with CardiAQ that will be paid in the following
quarter.  Cash expenditures on research and development and
clinical trials (expenses less share based payments and
depreciation) were $4,321,501 as the Company furthered the
development of the Tiara and the Reducer and cash expenditures on
general and administrative expenses were $3,250,436.  Inventory
decreased by $510,269 during the period due to increased sales and
corresponding shipments occurring close the end of the period

The Company's working capital, excluding the $91 million damages
provision in connection with the litigation with CardiAQ, is
$27,470,257 as at Sept. 30, 2016, compared to $54,274,867 as at
Dec. 31, 2015.

Unless the Company is successful in an appeal of the verdict, or
otherwise is successful in reducing the amount of the $91 million
awards, the Company will require significant additional financing
in order to pay the damages and to continue to operate its
business.  There can be no assurance that such financing will be
available on favorable terms, or at all.  These circumstances
indicate the existence of material uncertainty and cast substantial
doubt about the Company's ability to continue as a going concern.

                     Outstanding Share Data

As at Nov. 14, 2016, the Company had 66,866,345 common shares
issued and outstanding.  Further, the following securities are
convertible into common shares of the Company: 7,976,482 stock
options with a weighted average price of C$3.95.  The fully diluted
share capital of the Company at Nov. 14, 2016, is 74,842,827.

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

                     https://is.gd/rScQIX

                      About Neovasc Inc.

Neovasc Inc.  (CVE:NVC) -- http://www.neovasc.com/-- is a Canadian
specialty medical device company that develops, manufactures and
markets products for the rapidly growing cardiovascular
marketplace.  Its products in development include the Tiara, for
the transcatheter treatment of mitral valve disease and the Neovasc
Reducer for the treatment of refractory angina.  The Company also
sells a line of advanced biological tissue products that are used
as key components in third-party medical products including
transcatheter heart valves.

Neovasc reported a net loss of US$26.73 million for the year ended
Dec. 31, 2015, compared to a net loss of US$17.17 million for the
year ended Dec. 31, 2014.


NET ELEMENT: Incurs $3.46 Million Net Loss in Third Quarter
-----------------------------------------------------------
Net Element, Inc., filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
attributable to common stockholders of $3.46 million on $14 million
of total revenues for the three months ended Sept. 30, 2016,
compared to a net loss attributable to common stockholders of $5.13
million on $12.67 million of total revenues for the same period
during the prior year.

For the nine months ended Sept. 30, 2016, the Company reported a
net loss attributable to common stockholders of $10.66 million on
$38.96 million of total revenues compared to a net loss
attributable to common stockholders of $9.66 million on $25.12
million of total revenues for the nine months ended Sept. 30,
2015.

As of Sept. 30, 2016, Net Element had $23.39 million in total
assets, $16.82 million in total liabilities and $6.56 million in
total stockholders' equity.

"We are pleased with our continued improvement as we narrow our
losses for the quarter.  Our results are a reflection of our
ability to implement our business objectives in a dynamic
environment," commented Oleg Firer, CEO of Net Element.  "We
continue to be excited about our strategic initiatives for the
remainder of the year."

The Company recorded bad debt expense of $301,170 for the three
months ended Sept. 30, 2016, as compared to $284,384 for the three
months ended Sept. 30, 2015.  For the three months ended Sept. 30,
2016, the Company recorded a loss provision which was primarily
comprised of $301,132 in ACH rejects.  For the three months ended
Sept. 30, 2015, the Company recorded a $284,384 loss provision
which was comprised of $307,154 in ACH rejects partially offset by
a $22,811 recovery from the Company's Russian operations.

Depreciation and amortization expense consists primarily of the
amortization of merchant portfolios plus depreciation expense on
fixed assets, client acquisition costs, capitalized software
expenses, trademarks, domain names and employee non-compete
agreements.  Depreciation and amortization expense was $764,886 for
the three months ended Sept. 30, 2016, as compared to $851,636 for
the three months ended Sept. 30, 2015.  The $86,751 decrease in
depreciation and amortization expense was primarily due to a
reduction in portfolio amortization.

Interest expense was $608,716 for the three months ended Sept. 30,
2016, as compared to $1,605,034 for three months ended September
30, 2015, representing a decrease of $996,318.  The decrease in
interest expense was due to conversion of convertible notes payable
during 2015 resulting in lower interest costs as remaining note
balances have lower interest carrying costs.

The net loss attributable to non-controlling interests amounted to
$33,683 for three months ended Sept. 30, 2016, as compared to
$23,577 for the three months ended Sept. 30, 2015.

During the three months ended Sept. 30, 2016, the Company
recognized a charge of $1,433,475 relating to an amendment to the
PayOnline acquisition agreement, which we entered into on Oct. 25,
2016.  Such amendment calls for the Company's assumption of certain
merchant reserve liabilities equal to the charge taken.

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

                     https://is.gd/988gW7

                       About Net Element

Miami, Fla.-based Net Element International, Inc., formerly Net
Element, Inc., currently operates several online media Web sites
in the film, auto racing and emerging music talent markets.

Net Element reported a net loss of $13.3 million on $40.2 million
of total revenues for the year ended Dec. 31, 2015, compared to a
net loss of $10.2 million on $21.4 million of total revenues for
the year ended Dec. 31, 2014.

Daszkal Bolton LLP, in Fort Lauderdale, Florida, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2015, citing that the Company has sustained
recurring losses from operations and has working capital and
accumulated deficits that raise substantial doubt about its ability
to continue as a going concern.


NEW GLOBAL: Delays Filing of Sept. 30 Form 10-Q
-----------------------------------------------
New Global Energy, Inc., filed a Form 12b-25 with the Securities
and Exchange Commission notifying the delay in the filing of its
quarterly report on Form 10-Q for the period ended Sept. 30, 2016.

The Company said it has not been able to compile all of the
requisite formatted financial data and narrative information
necessary for it to have sufficient time to complete its Quarterly
Report on Form 10-Q for the quarter ended Sept. 30, 2016, without
unreasonable effort or expense.  The Form 10-Q will be filed as
soon as reasonably practicable.

                  About New Global Energy

New Global Energy, Inc., is a sustainable agriculture and
aquaculture company organized as a Wyoming corporation on Jan. 24,
2012.  The Company focuses on the use of advanced technology and
farming techniques with the goal of increasing production and
decreasing costs.

As of June 30, 2016, New Global had $9.17 million in total assets,
$4.90 million in total liabilities and $4.26 million in total
stockholders' equity.

New Global reported a net loss of $15.29 million in 2015 following
a net loss of $7.22 million in 2014.

D. Brooks and Associates CPA's, P.A., in West Palm Beach, FL,
issued a "going concern" qualification on the consolidated
financial statements for the year ended Dec. 31, 2015, citing that
the Company has incurred operating losses, has incurred negative
cash flows from operations and has a working capital deficit. These
and other factors raise substantial doubt about the Company's
ability to continue as a going concern.


NEW INVESTMENTS: 9th Cir. Says Pacifica May Fix Post-Default Rate
-----------------------------------------------------------------
The United States Court of Appeals for the Ninth Circuit reversed
the decision of the bankruptcy court and concluded that Pacifica L
51 LLC is entitled to receive payment of the debtor's loan at the
post-default interest rate.

New Investments, Inc., borrowed $3,045,760.51 from Pacifica L 51,
LLC's predecessor in interest to purchase a hotel property in
Kirkland, Washington.  The note, which was secured by a deed of
trust, provided for an interest rate of 8 percent.  The note also
specifically provided that in the event of default, the interest
rate would increase by 5 percent.

New Investments defaulted on the note in 2009.  When Pacifica
commenced non-judicial foreclosure proceedings, New Investments
filed for Chapter 11 bankruptcy.  New Investments's plan of
reorganization proposed to cure the default by selling the property
to a third party and using the proceeds of the sale to pay the
outstanding amount of the loan at the pre-default interest rate.
Pacifica objected to the plan on the ground that, under the terms
of the note, it was entitled to be paid at the higher, post-default
interest rate.

The bankruptcy court confirmed New Investments's plan over
Pacifica's objection and authorized the sale of the hotel for
$6,890,000.  Of the sale proceeds, $2,830,877.28 would be paid to
Pacifica, reflecting the pre-default interest rate and
extinguishing any other late penalties.  Pacifica timely appealed
from the confirmation order.

The Ninth Circuit held that the plain language of section 1123(d)
of the Bankruptcy Code compels the holding that a debtor cannot
nullify a preexisting obligation in a loan agreement to pay
post-default interest solely by proposing a cure.

"The underlying agreement -- the promissory note -- requires the
payment of a higher interest rate upon default.  And 'applicable
nonbankruptcy law' -- here, Washington state law -- allows for a
higher interest rate upon default when provided for in the loan
agreement.  In other words, under section 1123(d), 'the amount
necessary to cure [New Investments's] default' is governed by the
deed of trust and Washington law, which respectively require and
permit repayment at a higher, postdefault interest rate," the Ninth
Circuit said.

The appeals case is PACIFICA L 51 LLC, Creditor-Appellant, v. NEW
INVESTMENTS INC., Debtor-Appellee, No. 13-36194 (9th Cir.),
relating to IN RE NEW INVESTMENTS, INC, Debtor.

A full-text copy of the Ninth Circuit's November 4, 2016 opinion is
available at https://is.gd/tgDBVs from Leagle.com.

Creditor-Appellant is represented by:

          Dillon E. Jackson, Esq.
          Terrance J. Keenan, Esq.
          FOSTER PEPPER PLLC
          1111 Third Avenue, Suite 3000
          Seattle, WA 98101
          Tel: (206)447-4400
          Email: dillon.jackson@foster.com

            -- and --

          Stuart P. Kastner, Esq.
          STUART P. KASTNER PLLC
          5500 Columbia Center
          701 5th Avenue
          Seattle, WA 98104-7096
          Tel: (206)682-7090
          Email: spkastner@gmail.com

Debtor-Appellee is represented by:

          Lawrence K. Engel, Esq.
          40 Lake Bellevue #100          
          Bellevue, WA 98005
          Tel: (425)454-5500
          Fax: (425)974-2365

                    About New Investments Inc.

New Investments Inc., based in Kirkland, WA, filed a Chapter 11
petition (Bankr. W.D. Wash. Case No. 12-18500) on August 16, 2016.
The Hon. Karen A. Overstreet presides over the case.  Darrel B.
Carter, Esq., at CBG Law Group PLLC, sered as bankruptcy counsel.

In its petition, the Debtor estimated $1 million to $10 million in
assets and $10 million to $50 million in liabilities.  The petition
was signed by Sheraly Aziz, president.


NEXT GROUP: Delays Filing of Sept. 30 Quarterly Report
------------------------------------------------------
Next Group Holdings, Inc., notified the Securities and Exchange
Commission regarding the delay in the filing of its quarterly
report on Form 10-Q for the period ended Sept. 30, 2016.

The Company said it could not complete the filing of its quarterly
report on Form 10-Q for the period ended Sept. 30, 2016, due to a
delay in obtaining and compiling information required to be
included in the Company's Form 10-Q, which delay could not be
eliminated by the Company without unreasonable effort and expense.
In accordance with Rule 12b-25 of the Securities Exchange Act of
1934, as amended, the Company will file its Form 10-Q no later than
the fifth calendar day following the prescribed due date.

                   About Next Group Holdings

Next Group Holdings, Inc., formerly Pleasant Kids, Inc., through
its operating subsidiaries, is engaged in the business of using its
technology and certain licensed technology to provide mobile
banking, mobility and telecommunications solutions to underserved,
unbanked and emerging markets.  Its subsidiaries are Meimoun and
Mammon, LLC (100% owned), Next Cala, Inc (94% owned).  NxtGn, Inc.
(65% owned) and Next Mobile 360, Inc. (100% owned).  Additionally,
Next Cala, Inc. has a 60% interest in NextGlocal, a joint venture
formed in May 2016.

The Company's balance sheet at June 30, 2016, showed $1.60 million
in total assets, $5.85 million in total liabilities, $22,066 in
total non-controlling interest in subsidiaries, and a stockholders'
deficit of $4.23 million.

Pleasant Kids reported a net loss of $1.82 million for the year
ended Sept. 30, 2015, following a net loss of $1.72 million for the
year ended Sept. 30, 2014.

Anton & Chia, LLP, in Newport Beach, California, issued "going
concern" qualification on the consolidated financial statements for
the year Sept. 30, 2015, citing that the Company has a minimum cash
balance available for payment of ongoing operating expenses, has
experienced losses from operations since inception, and it does not
have a source of revenue sufficient to cover its operating costs.
These factors raise substantial doubt about the Company's ability
to continue as a going concern.


NORTEL NETWORKS: Ex-Employee Can't Amend Stipulation, 3rd Cir. Says
-------------------------------------------------------------------
The United States Court of Appeals for the Third Circuit affirmed
the district court's judgment, which previously affirmed an adverse
order by the bankruptcy court.

Ernest Demel, a former employee of a subsidiary of Nortel Networks,
Inc., filed an action in the United States District Court for the
Southern District of New York, seeking to recover disability
benefits from the subsidiary's benefit and retirement plans.

When NNI and certain of its U.S.-based subsidiaries filed voluntary
petitions for relief under Chapter 11 of the Bankruptcy Code in the
United States Bankruptcy Court for the District of Delaware, Demel
filed a proof of claim against NNI in the amount of $1,924,557.70
relating to the benefits at issue in the Southern District of New
York action.   Ultimately, Demel and NNI stipulated that Demel's
claim would be allowed as a general unsecured claim of $125,000,
and that Demel would release any further claims against NNI.  On
October 14, 2010, the Bankruptcy Court approved the stipulation.  

In June 2014, Demel, relying on Federal Rules of Bankruptcy
Procedure 9023 and 9024, filed a motion in the Bankruptcy Court to
amend the stipulation.  He sought to (1) alter language in one
section to clarify that he was permitted to transfer his claim; (2)
increase the value of his claim to $1,674,365; and (3) treat his
claim as part of the larger long-term disability settlement.

After holding a hearing, the Bankruptcy Court denied amendments (2)
and (3); as for amendment (1), the court emphasized in its order
that nothing in the initial stipulation prohibited Demel from
transferring his claim.  Demel appealed to the District Court,
which affirmed the Bankruptcy Court's judgment.

On appeal, the Third Circuit affirmed the District Court's order.
The appellate court found that Demel's motion sought relief under
Fed. R. Bankr. P. 9024, which provides that Fed. R. Civ. P. 60
applies in bankruptcy proceedings, and that the only subsection of
Rule 60 that is arguably relevant to Demel's case is Rule 60(b)(6).
The Third Circuit explained that to be entitled to relief under
Rule 60(b)(6), Demel must show "extraordinary circumstances where,
without such relief, an extreme and unexpected hardship would
occur."  The Court found that Demel has not made that showing.

A full-text copy of the Third Circuit's November 4, 2016 opinion is
available at https://is.gd/TcjI9k from Leagle.com.

The appeals case is In re: NORTEL NETWORKS, INC.; et al., Debtors.
Ernest Demel, Appellant, No. 15-3363 (3rd Cir.).
                    About Nortel Networks

Headquartered in Ontario, Canada, Nortel Networks Corporation and
its various affiliated entities provided next-generation
technologies, for both service provider and enterprise networks,
support multimedia and business-critical applications.  Nortel did
Networks Limited was the principal direct operating subsidiary of
Nortel Networks Corporation.

On Jan. 14, 2009, Nortel Networks Inc.'s ultimate corporate parent
Nortel Networks Corporation, NNI's direct corporate parent Nortel
Networks Limited and certain of their Canadian affiliates commenced
a proceeding with the Ontario Superior Court of Justice under the
Companies' Creditors Arrangement Act (Canada) seeking relief from
their creditors.  Ernst & Young was appointed to serve as monitor
and foreign representative of the Canadian Nortel Group.  That same
day, the Monitor sought recognition of the CCAA Proceedings in U.S.
Bankruptcy Court (Bankr. D. Del. Case No. 09-10164) under Chapter
15 of the U.S. Bankruptcy Code.

That same day, NNI and certain of its affiliated U.S. entities
filed voluntary petitions for relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Del. Case No. 09-10138).

In addition, the High Court of England and Wales placed 19 of
NNI's European affiliates into administration under the control of
individuals from Ernst & Young LLP.  Other Nortel affiliates have
commenced and in the future may commence additional creditor
protection, insolvency and dissolution proceedings around the
world.

On May 28, 2009, at the request of administrators, the Commercial
Court of Versailles, France, ordered the commencement of secondary
proceedings in respect of Nortel Networks S.A.  On June 8, 2009,
Nortel Networks UK Limited filed petitions in U.S. Bankruptcy Court
for recognition of the English Proceedings as foreign main
proceedings under Chapter 15.

U.S. Bankruptcy Judge Kevin Gross presides over the Chapter 11 and
15 cases.  Mary Caloway, Esq., and Peter James Duhig, Esq., at
Buchanan Ingersoll & Rooney PC, in Wilmington, Delaware, serves as
Chapter 15 petitioner's counsel.

In the Chapter 11 case, James L. Bromley, Esq., and Howard S.
Zelbo, Esq., at Cleary Gottlieb Steen & Hamilton, LLP, in New York,
serve as the U.S. Debtors' general bankruptcy counsel; Derek C.
Abbott, Esq., at Morris Nichols Arsht & Tunnell LLP, in Wilmington,
serves as Delaware counsel.  The Chapter 11 Debtors' other
professionals are Lazard Freres & Co. LLC as financial advisors;
and Epiq Bankruptcy Solutions LLC as claims and notice agent.

The U.S. Trustee appointed an Official Committee of Unsecured
Creditors in respect of the U.S. Debtors.

An ad hoc group of bondholders also was organized.  An Official
Committee of Retired Employees and the Official Committee of
Long-Term Disability Participants tapped Alvarez & Marsal
Healthcare Industry Group as financial advisor.  The Retiree
Committee is represented by McCarter & English LLP as Delaware
counsel, and Togut Segal & Segal serves as the Retiree Committee.
The Committee retained Alvarez & Marsal Healthcare Industry Group
as financial advisor, and Kurtzman Carson Consultants LLC as its
communications agent.

Several entities, particularly, Nortel Government Solutions
Incorporated and Nortel Networks (CALA) Inc., have material
operations and are not part of the bankruptcy proceedings.

As of Sept. 30, 2008, Nortel Networks Corp. reported consolidated
assets of $11.6 billion and consolidated liabilities of $11.8
billion.  The Nortel Companies' U.S. businesses are primarily
conducted through Nortel Networks Inc., which is the parent of
majority of the U.S. Nortel Companies.  As of Sept. 30, 2008, NNI
had assets of about $9 billion and liabilities of $3.2 billion,
which do not include NNI's guarantee of some or all of the Nortel
Companies' about $4.2 billion of unsecured public debt.

Since the commencement of the various insolvency proceedings,
Nortel has sold its business units and other assets to various
purchasers.  Nortel has collected roughly $9 billion for
distribution to creditors.  Of the total, $4.5 billion came from
the sale of Nortel's patent portfolio to Rockstar Bidco, a
consortium consisting of Apple Inc., EMC Corporation,
Telefonaktiebolaget LM Ericsson, Microsoft Corp., Research In
Motion Limited, and Sony Corporation.  The consortium defeated a
$900 million stalking horse bid by Google Inc. at an auction.  The
deal closed in July 2011.

Nortel has filed a proposed plan of liquidation in the U.S.
Bankruptcy Court.  The Plan generally provides for full payment on
secured claims with other distributions going in accordance with
the priorities in bankruptcy law.

The trial on how to divide proceeds among creditors in the U.S.,
Canada, and Europe commenced on Sept. 22, 2014.  The question of
how to divide $7.3 billion raised in the international bankruptcy
of Nortel Networks Corp. was answered on May 12, 2015, by two
judges, one in the U.S. and one in Canada.

According to The Wall Street Journal, Justice Frank Newbould of the
Ontario Superior Court of Justice in Toronto and Judge Kevin Gross
of the U.S. Bankruptcy Court in Wilmington, Del., agreed on the
outcome: a modified pro rata split of the money.  


NORTH ATLANTIC TRADING: Moody's Affirms B2 CFR; Outlook Stable
--------------------------------------------------------------
Moody's Investors Service affirmed the B2 Corporate Family Rating
of North Atlantic Trading Company, Inc. (NATC), a subsidiary of
Turning Point Brands, Inc. (TPB) following TPB's announcement last
week that it had acquired Smoke Free Technologies Inc. d/b/a
VaporBeast for $27 million.  The first lien secured term loan was
downgraded to B2 from B1.  The outlook is stable.

VaporBeast markets e-liquids, vaporizers and accessories, directly
to consumers and to non-traditional retail outlets such as vape
shops.  Revenue for the twelve months ended Sept. 30, 2016,
approximated $53 million and EBITDA was about $7 million.  The
acquisition will be funded with a combination of cash on hand and
roughly $20 million drawdown on the $40 million ABL revolver.

The downgrade of the first lien senior secured term loan reflects
the diminished loss absorption because of the additional senior
debt incurred to fund the acquisition.

"We think the acquisition makes strategic sense for TPB as it
expands its alternative tobacco portfolio and leverages its
experience in dealing with expansive tobacco regulations," said
Kevin Cassidy, Senior Credit Officer, at Moody's Investors Service.
The acquisition is modestly leverage accretive with pro forma
debt/EBITDA decreasing by ¼ of a turn to about 4 times.

Ratings affirmed:

  Corporate Family Rating at B2;
  Probability of Default Rating, at B2-PD;
  Second lien senior secured term loan at Caa1 (LGD 5);
  Speculative Grade Liquidity (SGL) Rating at SGL-3

Rating downgraded:

  First lien senior secured term loan, to B2 (LGD 3) from B1
   (LGD 3)

The outlook is stable.

                        RATINGS RATIONALE

NATC's B2 CFR reflects the company's small scale, high financial
leverage and modest but improving free cash flow.  Ratings are
supported by the company's solid market share position in niche
tobacco categories, good interest coverage, and minimal cap-ex
requirements in its asset light model.  Moody's expects modest
de-levering to be driven by a combination of debt repayments and
modest earnings growth.  NATC must compete -- primarily based on
price and quality -- against significantly larger, better
resourced, well-known branded tobacco manufacturers.  The company
must also continue to invest in growth initiatives and utilize its
pricing power to mitigate volume pressure on tobacco products
because of consumer trends toward healthier lifestyles.  As a
subsidiary of a public company, NATC will need to demonstrate
growth to avoid downward pressure on its parent's equity
valuation.

The company is targeting to reduce and sustain leverage at a lower
level than the post-IPO range in order to improve free cash flow
and financial flexibility to reinvest.  The leverage target is an
important consideration in the B2 CFR.  The company does not
currently pay a dividend, but Moody's believes that the
introduction of a dividend is likely for mature cash-generating
companies and this creates some event risk for NATC.  The stable
rating outlook for NATC reflects Moody's expectation that the
company will realize some earnings growth and modest improvement in
credit metrics.  The stable outlook also reflects Moody's
expectation that the company will delever and generate positive
annual free cash flow.

Moody's could upgrade the company's ratings if it meaningfully
increases scale and revenue while reducing leverage.

Moody's could downgrade the company's ratings if leverage
(debt/EBITDA) increases to more than 5 times, operating performance
deteriorates for whatever reason, or if the company's liquidity
profile weakens.

The principal methodology used in this rating was the "Tobacco
Industry" published in November 2014.

NATC is a provider of Other Tobacco Products (OTP) in the United
States.  The company operates two business segments: smokeless
products and smoking products.  Additionally, its corporate parent
Turning Point Brands, Inc. (formerly North Atlantic Holding
Company, Inc.) operates a third segment called NewGen products. The
Smokeless products market consists of approximately four product
categories, which includes loose leaf chewing tobacco, Moist Snuff,
Moist Snuff Pouches and Snus.  The smoking products consist of
various product categories, including cigarette papers, large
cigars, MYO cigar wraps and MYO cigar smoking tobacco, MYO
cigarette smoking tobacco and related products, and traditional
pipe tobacco.  The NewGen products consist of various products,
such as liquid vapor products, tobacco vaporizer products and a
range of non-tobacco products and other non-nicotine products.  Its
portfolio of brands includes Zig-Zag, Beech-Nut, Stoker's, Trophy,
Havana Blossom, Durango, Our Pride and Red Cap.  Revenues for the
twelve months ended Sept. 30, 2016, approximated
$200 million ($250 million pro forma).


NORTHERN POWER: Incurs $1.35 Million Net Loss in Third Quarter
--------------------------------------------------------------
Northern Power Systems Corp. filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $1.35 million on $12.14 million of total revenues for the three
months ended Sept. 30, 2016, compared to a net loss of $539,000 on
$13.42 million of total revenues for the three months ended Sept.
30, 2015.

For the nine months ended Sept. 30, 2016, the Company reported a
net loss of $8.11 million on $26.02 million of total revenues
compared to a net loss of $7.20 million on $35.66 million of total
revenues for the same period during the prior year.

As of Sept. 30, 2016, the Company had $20.18 million in total
assets, $21.95 million in total liabilities, and a total
shareholders' deficit of $1.76 million.

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

                     https://is.gd/4AoXgQ

                 About Northern Power Systems

Northern Power Systems designs, manufactures, and sells wind
turbines and power technology products, and provides engineering
development services and technology licenses for energy
applications, into the global marketplace from its U.S.
headquarters and European offices.

Northern Power reported a net loss of $7.79 million in 2015, a net
loss of $8.78 million in 2014 and a net loss of $14.57 million in
2013.

RSM US LLP, in Boston, Massachusetts, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2015, citing that the Company incurred recurring
losses from operations, used cash in operations and has an
accumulated deficit of $168.4 million as of Dec. 31, 2015.  The
Company's credit agreement is due to expire on Sept. 30, 2016.
This raises substantial doubt about the Company's ability to
continue as a going concern.


NUSTAR ENERGY: S&P Assigns 'B+' Rating on $200MM Preferred Stock
----------------------------------------------------------------
S&P Global Ratings said it assigned its 'B+' issue-level rating to
San Antonio, Texas-based NuStar Energy L.P.'s $200 million
perpetual preferred stock issuance.  S&P's other ratings on NuStar,
including S&P's 'BB+' corporate credit rating, are unchanged.

"The rating outlook is stable and reflects our view that the
partnership will have adjusted debt to EBITDA of about 4.7x through
2016, maintain its distribution coverage ratio exceeding 1x, and
have sufficient liquidity under its revolving credit facility to
fund some of its growth initiatives without accessing capital
markets, which could be challenging now," said S&P Global Ratings
credit analyst Michael Ferguson.

S&P could consider lowering the ratings or revising the outlook if
NuStar cannot maintain a distribution coverage ratio of at least 1x
and leverage of about 5x during the next 18 months.  S&P also could
lower the rating if NuStar exhibits a more aggressive strategy in
managing its portfolio of businesses, such that there is a renewed
focus on segments with a higher degree of business risk and more
volatile cash flows.

S&P does not currently expect a higher rating, but an upgrade is
possible over time if S&P sees management embrace more conservative
financial policies and demonstrate that it can consistently
maintain leverage in the low-4x area.  NuStar's continued
participation in lower risk activities could also contribute to an
improved business risk profile.



O&G LEASING: PDC Awarded Over $250K in Damages vs. ORF
------------------------------------------------------
Judge F. Keith Ball of the United States District Court for the
Southern District of Mississippi, Northern Division, awarded
Performance Drilling Company, LLC, damages on its claim of breach
of the implied warranty of merchantability in the amount of
$254,806.73.  The judge also awarded $252,640.00 to the defendant,
Oklahoma Rig Fabricators, LLC, on its counterclaim.

The action began as an adversary proceeding in bankruptcy court
filed by PDC and O & G Leasing, LLC, affiliated companies and
Chapter 11 debtors-in-possession, asserting breach of contract and
related claims.  The defendant, ORF, asserted a counterclaim for
amounts allegedly due on invoices.  Following an agreed withdrawal
of the reference, the parties consented to jurisdiction of the
district court.  The bankruptcy reorganization left only PDC as the
surviving company, and thus the sole plaintiff.

PDC is a Mississippi company engaged in the business of owning and
operating oil and gas drilling rigs.  An essential component of
those rigs is a mud pump, which consists primarily of a pump and an
engine.  ORF is a fabricating company located in Oklahoma City,
Oklahoma in the business of manufacturing and refurbishing drilling
rigs and rig components.  In late 2011, PDC and ORF entered into a
contract whereby ORF agreed to fabricate two mud pump packages for
PDC.

PDC has asserted breach of contract and related claims arising from
the sale of the pumps.  The factual allegations underlying PDC's
claims are that the pumps were not delivered on time, that the
power units for the pumps were not new, and that the pumps did not
operate properly.  PDC sought damages from ORF based upon (1)
breach of the implied warranty of merchantability, (2) breach of
express warranty, (3) breach of contract, and (4) breach of the
duty of good faith and fair dealing.

Several of the terms of the agreement or modifications to it were
negotiated by Billy Bunch, PDC's vice president of operations
during the relevant time period, without the express approval of
David "Grumpy" Farmer, president and CEO of PDC.  Both Farmer and
Bunch denied that Bunch had actual authority to enter into the
contract for the purchase of the pump packages or to make
substantial modifications to that contract.

Judge Ball, however, found that the evidence supports a finding
that Bunch had apparent authority to make or to substantially
modify the agreement with ORF.  PDC initially negotiated the
agreement with ORF entirely and solely through Billy Bunch.  He was
the only individual from PDC with whom anyone at ORF ever dealt.
Throughout the entire process, neither Farmer nor anyone else from
PDC, other than Bunch, ever communicated directly with ORF.  By
allowing Bunch, without interference, to conduct negotiations with
ORF and to be PDC's sole contact with ORF, Judge Ball concluded
that PDC placed Bunch in a position in which he appeared with
reasonable certainty to be acting on behalf of PDC.

As for PDC's claim for breach of implied warranty of
merchantability, Judge Ball held that the failure of the mud pumps
to operate properly for several weeks after their installation
constitutes a breach of this implied warranty.

Judge Ball, however, rejected PDC's claim for breach of express
warranty.  The essence of this claim is that ORF warranted that the
pump packages, including the engines, were new, when in fact one
was used and one was rebuilt. Judge Ball found that while the
initial quote for the pump packages states that the engines would
be new, that requirement was changed by PDC, acting through Bunch,
before PDC placed its order with ORF.

Judge Ball also rejected PDC's breach of contract claim.  PDC
asserted that ORF breached the agreement by failing to deliver the
pump packages within eight weeks of PDC's initial payment.  Judge
Ball, however, found that the initial contract term of delivery
within eight weeks of the down payment was modified, through Bunch,
such that there was no firm date for ORF to deliver the pump
packages.

Judge Ball also rejected PDC's claim for breach of duty of good
faith and fair dealing after finding that PDC has identified no
specific conduct which it claims constituted bad faith on the part
of the ORF.

Farmer testified concerning the damages suffered by PDC as a result
of the delay in delivery and the failure of the pump packages to
operate as expected once they were delivered and installed.
However, in light of the Court's finding that there was no breach
regarding the date of delivery, Judge Ball held that PDC is
entitled to neither its rental costs prior to delivery of the ORF
pump packages nor to lost revenues during this period.  The judge,
rather, held that PDC is entitled to lost revenues for the time it
was waiting on the new pumps to be repaired and become
operational.

In its counterclaim, ORF sought payment on two invoices, Invoice
Nos. 3808 and 3809, for repair work allegedly performed on
equipment sent to it by PDC, and two invoices, Invoice Nos. 3746
and 3802, for parts allegedly purchased by PDC.  PDC denied that it
ever requested the repairs or sent the equipment to ORF, and it
likewise denied that it purchased the parts for which ORF seeks
recovery.

Judge Ball concluded that ORF has met its burden of showing by a
preponderance of credible evidence that the repairs were made as
described on invoices 3808 and 3809.  The judge also found, based
upon testimony, that the parts represented by invoices 3746 and
3802 were purchased by PDC and that ORF is entitled to payment for
these invoices as well.

In summary, PDC was awarded damages on its claim of breach of the
implied warranty of merchantability in the amount of $254,806.73.
ORF was awarded $252,640.00 on its counterclaim.

The case is captioned O&G LEASING, LLC and PERFORMANCE DRILLING
COMPANY, LLC, Plaintiff, v. OKLAHOMA RIG FABRICATORS, LLC,
Defendant, Civil Action No. 3:14cv133-FKB (S.D. Miss.).

A full-text copy of Judge Ball's November 3, 2016 memorandum
opinion and order is available at https://is.gd/Pd5lxm from
Leagle.com.

O&G Leasing, LLC and Performance Drilling Company, LLC are
represented by:

          Douglas C. Noble, Esq.
          W. Thomas McCraney, III, Esq.
          MCCRANEY MONTAGNET & QUIN, PLLC
          602 Steed Road, Suite 200
          Ridgeland, MS 39157
          Tel: (601)707-5725
          Fax: (601)510-2939
          Email: dnoble@mmgnlaw.com
                 tmccraney@mmgnlaw.com

Oklahoma Rig Fabricators, LLC is represented by:

          James W. Newman, IV, Esq.
          NEWMAN & NEWMAN
          587 Highland Colony Pkwy
          Ridgeland, MS 39157-8784
          
                         About O&G Leasing

Jackson, Mississippi-based O&G Leasing, LLC, was formed in 2006 to
acquire and construct land drilling rigs that it would lease to
its wholy-owned subsidiary, Performance Drilling Company, LLC.
Performance was formed to provide contract drilling services for
tArkLaTex (Arkansas, Louisiana and Eastern Texas) region, well as
Alabama, Florida, Mississippi and Oklahoma.

O&G Leasing filed for Chapter 11 bankruptcy protection (Bankr.
S.D. Miss. Case No. 10-01851) on May 21, 2010.  The Debtor
estimated $10 million to $50 million in assets and $50 million to
$100 million in debts.

Performance filed a separate petition for Chapter 11 relief
(Bankr. S.D. Miss. Case No. 10-01852) on May 21, 2010.
Performance estimated assets and debts of between $1 million and
$10 million in its petition.

The Debtors retained McCraney, Montagnet, Quin & Noble, PLLC as
their bankruptcy counsel and Young Williams, P.A., as corporate
counsel.  Young Williams was replaced by Bradley Arant Boult
Cummings, LLP, as corporate counsel effective March 8, 2012, but
remained engaged as special counsel on litigation matters.
BMC Group, Inc., serves as the Debtors' solicitation and voting
agent.

The U.S. Bankruptcy Court for the Southern District of Mississippi
confirmed on April 22, 2013, O&G Leasing, LLC, et al.'s Second
Amended Plan of Reorganization filed Jan. 8, 2013, the Plan
Supplement filed Feb. 5, 2013, and the Immaterial Modifications to
the Second Amended Plan filed April 11, 2013.


OCEAN PARKWAY: SLG Assets To Be Paid From Sale Proceeds
-------------------------------------------------------
Ocean Parkway Management Realty LLC filed with the U.S. Bankruptcy
Court for the Eastern District of New York its proposed plan to
exit Chapter 11 protection.

The restructuring plan classifies claim against and interests in
the Debtor into two classes.  

Class 1 consists of SLG Assets Inc.'s secured claim in the amount
of $739,424 for the real estate mortgage held by the company
against the Debtor's property located in Brooklyn.

Treatment of the SLG loan is subject to the Debtor's sale contract
with Cedi Group Trading LLC, under which it proposes to sell its
interest to the buyer for $600,000.  The amount will be used to
settle the claim of SLG.

Meanwhile, Class 2 consists of interests held by Ocean Parkway
President Yan Klig who does not intend to retain his interest in
the Debtor following confirmation of the plan, according to the
disclosure statement filed on November 3.

A copy of the disclosure statement is available for free at
https://is.gd/5Uf1p7

The Debtor is represented by:

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

                       About Ocean Parkway

Ocean Parkway Management Realty LLC, a company located at 2455 West
1st Street, Brooklyn, New York, sought protection under Chapter 11
of the Bankruptcy Code (Bankr. E.D.N.Y. Case No. 16-40673) on
February 23, 2016.


OSCAR NAVARRO: Asks Court To Approve Plan Outline
-------------------------------------------------
Oscar Navarro filed with the U.S. Bankruptcy Court for the Central
District of California a motion for order approving the Debtor's
disclosure statement in support of the Debtor's plan of
reorganization dated Nov. 14, 2016.

Oscar Navarro filed for Chapter 11 bankruptcy protection (Bankr.
C.D. Cal. Case No. 16-11351) on May 3, 2016.  Onyinye N Anyama,
Esq., at Anyama Law Firm serves as the Debtor's bankruptcy counsel.


OTERO COUNTY: Ch. 11 Plan Enjoins Malpractice Suit in State Court
-----------------------------------------------------------------
Judge Robert H. Jacobvitz of the United States Bankruptcy Court,
District of New Mexico granted in part and denied in part the
plaintiff's request for declaratory judgment, and granted in part
and denied in part the defendants' counterclaim in the adversary
proceeding captioned CADY LANDRUM, Plaintiff, v. OTERO COUNTY
HOSPITAL ASSOCIATION, INC., (d/b/a Gerald Champion Regional Medical
Center, d/b/a Mountain View Catering), and SURGIT MOOLAMALLA,
Defendants. OTERO COUNTY HOSPITAL ASSOCIATION, INC., (d/b/a Gerald
Champion Regional Medical Center, d/b/a Mountain View Catering),
Counterplaintiff, v. CADY LANDRUM, Counterdefendant, Adversary No.
15-1016 J (Bankr. D.N.M.).

Cady Landrum previously filed a complaint in state court against
Dr. Surgit Moolamalla in the Twelfth Judicial District Court, Otero
County, State of New Mexico, asserting a claim for medical
malpractice arising from the failure of a medical procedure to
prevent Landrum from becoming pregnant.

In an adversary proceeding, Landrum sought a declaratory judgment
determining, (i) 11 U.S.C. section 362(a) does not enjoin the State
Court Action; (ii) section 524(a) does not enjoin the State Court
Action; (iii) the plan confirmed in the Chapter 11 bankruptcy case
filed by the defendant, Otero County Hospital Association, Inc.,
(d/b/a Gerald Champion Regional Medical Center, d/b/a Mountain View
Catering), does not enjoin the State Court Action; (iv) she has not
waived her claim against Dr. Moolamalla by not filing an
administrative claim in the Bankruptcy Case; and (v) she did not
willfully violate section 362(a).

The defendants opposed Landrum's request for declaratory judgment
with respect to items iii and iv of the list above, but did not
oppose Landrum's request with respect to items i, ii, and v.  The
defendants counterclaimed seeking a declaratory judgment that the
Plan and section 1141(d) enjoin the State Court Action and further
requested that the Court hold Landrum in contempt of court and
award the defendants damages.

Prior to the trial, the Court entered its Order Granting, in Part,
and Denying, in Part, Defendants' Motion for Summary Judgment
(Partial).  In the summary judgment order, the Court held: (i) the
language of Section 14.20 of the Plan (the "Plan Injunction") is
broad enough to bar Landrum's claims against Dr. Moolamalla
asserted in the State Court Action if Dr. Moolamalla was an
employee of the Hospital when he performed the medical procedure on
Landrum; and (ii) Landrum received actual notice of the
commencement of the bankruptcy case, the hearing on confirmation of
the Plan (which included notice of the Plan Injunction),
confirmation of the Plan, and the bar date for filing
administrative claims in the bankruptcy case.

Judge Jacobvitz held that the Hospital's transmission of notice to
Landrum satisfies the requirements of due process.  The judge found
that the Hospital sent notice of the commencement of the bankruptcy
case, notice of the hearing on confirmation, and notice of the bar
date for filing administrative claims to Landrum at the Post Office
box she regularly used during that time, and that Landrum has not
offered sufficient evidence to rebut the presumption of receipt of
the notices sent to her in connection with the bankruptcy case.  

Judge Jacobvitz also held that the content of the notice reasonably
conveyed the required information, and thus satisfies the
requirements of due process.  The judge found that the confirmation
notice included the Plan Injunction language in bold type, and that
the bar date notice and confirmation notice together gave Landrum
notice that apprised her that failure to assert her administrative
claim in the bankruptcy case would bar her from asserting her claim
based on the medical procedure against the Hospital and its
employees.

Based on the foregoing, Judge Jacobvitz entered an order granting
in part and denying in part Landrum's request for declaratory
judgment and granting in part and denying in part the Hospital's
counter-claim.  The order provided that:

     (1) Section 362(a) does not enjoin the State Court Action;
     (2) Section 524(a) does not enjoin the State Court Action;
     (3) the Plan, specifically the Plan Injunction, enjoins
         the State Court Action;
     (4) Landrum waived her claim against Dr. Moolamalla by not
         filing an administrative claim in the bankruptcy case;
     (5) Landrum did not willfully violate section 362(a); and
     (6) the Hospital's request that the Court hold Landrum in
         civil contempt is denied.

The bankruptcy case is In re: OTERO COUNTY HOSPITAL ASSOCIATION,
INC., (d/b/a Gerald Champion Regional Medical Center, d/b/a
Mountain View Catering), Debtor, Case No. 11-11-13686 JA (Bankr.
D.N.M.).

A full-text copy of Judge Jacobvitz's November 7, 2016 memorandum
opinion is available at https://is.gd/IXr8iH from Leagle.com.

Otero County Hospital Association, Inc. is represented by:

          Craig H. Averch, Esq.
          Lauren Christie Fujiu-Berger, Esq.
          Ronald Kevin Gorsich, Esq.
          Roberto J. Kampfner, Esq.
          WHITE & CASE LLP
          555 South Flower Street, Suite 2700
          Los Angeles, CA 90071-2433
          Email: caverch@whitecase.com
                 lfujiu@whitecase.com
                 rgorsich@whitecase.com
                 rkampfner@whitecase.com

            -- and --

          Spencer Lewis Edelman, Esq.
          Jeremy Harrison, Esq.
          Jennifer A. Noya, Esq.
          MODRALL, SPERLING, ROEHL, HARRIS & SISK PA
          500 Fourth Street NW, Suite 1000
          Albuquerque, NM 87102
          Tel: (505)848-1800
          Email:
                 jennifer.noya@modrall.com

            -- and --

          Robert G. Heyman, Esq.
          SUTIN, THAYER & BROWNE, APC
          317 Paseo de Peralta
          Santa Fe, NM 87501
          Tel: (505)988-5521
          Fax: (505)982-5297
          Email: rgh@sutinfirm.com

            -- and --

          William R. Keleher, Esq.
          SMIDT REIST & KELEHER, P.C.

            -- and --

          Charles R. Hughson, Esq.
          RODEY, DICKASON, SLOAN, AKIN & ROBB, P.A.
          201 3rd Street NW, Suite 2200
          Albuquerque, NM 87102
          Tel: (505)765-5900
          Fax: (505)768-7395
          Email: chughson@rodey.com

            -- and --

          John D. Wheeler, Esq.
          500 East Tenth Street, Suite 305
          Alamogordo, NM 88310
          Tel: (575)437-5750
          Fax: (575)437-3557

United States Trustee, U.S. Trustee, is represented by:

          Alice Nystel Page, Esq.
          OFFICE OF THE U.S. TRUSTEE

                    About Otero County Hospital

Otero County Hospital Association Inc. filed for Chapter 11
protection (Bankr. D. N.M. Case No. 11-13686) in Albuquerque, New
Mexico, on Aug. 16, 2011.  The Alamogordo, New Mexico-based
nonprofit developed and operates the Gerald Champion Regional
Medical Center.  GCRMC serves a total population of approximately
70,000 people.  Otero County Hospital Association also does
business as Mountain View Catering.

Judge Robert H. Jacobvitz presides over the case. Craig H. Averch,
Esq., and Roberto J. Kampfner, Esq., at White & Case, LLP, in Los
Angeles; and John D. Wheeler, Esq., at John D. Wheeler &
Associates, PC, in Alamogordo, New Mexico, serve as bankruptcy
counsel.  Kurtzman Carson Consultants, LLC, serves as claims
agent.

The Debtor disclosed $124,186,104 in assets and $40,506,759 in
liabilities as of the Chapter 11 filing.

Alice Nystel Page, U.S. Trustee for Region 20, appointed five
creditors to serve on the Official Committee of Unsecured
Creditors of the Debtor.  Gardere Wynne Sewell LLP serves as the
Committee's counsel.  The Committee tapped James Morell of JCM
Advisors, LLC, as healthcare management consultant.

The U. S. Trustee appointed E. Marissa Lane PLLC as patient care
ombudsman on Sept. 13, 2011.

No trustee or examiner has been requested or appointed in the
Chapter 11 Case.

The Debtor's Third Amended Plan of Reorganization dated June 20,
2012, provides that the Plan will resolve the Trust Personal
Injury Claims on a consensual basis; resolve all issues between
the Debtor and Quorum Health Resources, LLC well as the Debtor and
Nautilus Insurance Company on a consensual basis; satisfy the
claims of Bank of America in full; provide for the payment of
trade and other unsecured creditors in full; and allow the Debtor
to emerge from chapter 11 in a strong position and with the
ability to satisfy the medical needs of Otero County.

The Plan contemplates that the Debtor will obtain exit financing
to the extent necessary to satisfy the claims of its primary
secured creditor, Bank of America, and provide the Debtor with
sufficient capital to meet its other obligations under the Plan
and continue its normal operations.

On June 21, 2012, the Court entered an order approving the
disclosure statement and establishing procedures relating to
confirmation of the plan.  Following a confirmation hearing held
Aug. 3, 2012, the Court entered an order confirming a fourth
amended plan, which contained non-material modifications to the
third amended plan.  


OXFORD FINANCE: S&P Raises ICR to 'BB-' on Reduced Leverage
-----------------------------------------------------------
S&P Global Ratings said it raised its issuer credit rating on
Oxford Finance LLC to 'BB-' from 'B+'.  The outlook is stable.  At
the same time, S&P also withdrew its 'B' rating on the company's
senior unsecured notes, which have been repaid in full.

On Nov. 17, 2016, Oxford announced that it has been acquired by
affiliates of Wafra Capital Partners.  Under the terms of the
acquisition, Oxford's senior unsecured notes due 2018 were retired.
As a result, leverage as measured by debt to adjusted total equity
has been reduced to about 1.5x.  S&P also expects that Oxford will
continue to operate with lower leverage over the next 12 to 24
months, further supporting S&P's rating action.

"Our rating on Oxford is supported by a track record of sound
underwriting, limited realized credit losses, and strong cash
generation," said S&P Global Ratings credit analyst Chris Cary.
S&P also believes Oxford is a leader in the niche markets it
operates in.  Countering these ratings strengths are the firm's
limited business diversification and reliance on secured funding
facilities.

Oxford makes senior secured term and revolving loans to life
sciences and health care services companies.  The company has grown
its portfolio at a moderate pace over the last few years, and has
been very selective in its investments.  Many of these companies
have negative cash flows and little or no revenues. Oxford offsets
the riskiness of these borrowers with careful underwriting.  Its
loans typically represent a small portion of the borrowers' capital
structures and generally amortize fully with in three or four
years.  It also focuses on companies later in the development
process that have raised capital over several rounds and may have
multiple products in development.  

The stable outlook reflects S&P's expectation that the company will
operate with conservative leverage and that prudent underwriting
will ensure minimal realized credit losses and sound profitability
over the next 12 to 24 months.  S&P also expects the company to
ensure that its subsidiary funding vehicles remain well in
compliance with their financial covenants.

S&P could lower its rating if leverage as measured by debt to
adjusted total equity rises beyond 2.75x.  S&P could also lower the
rating if portfolio credit quality deteriorates more than S&P
expects, particularly if that pressures any of the company's
secured debt covenants.  For instance, if the company's
nonperforming assets rise to more than 4% of its loans, S&P could
lower the rating.

An upgrade in the next 12 to 24 months is unlikely.  However, S&P
could raise its rating on Oxford if the company diversifies its
business while continuing to demonstrate a strong record of low
credit losses and profitability.  An improvement in its funding
profile, perhaps with a further increase in unencumbered assets,
could also lead S&P to raise the rating.



PACIFIC 9: Plan Exclusivity Period Extended
-------------------------------------------
Judge Julia W. Brand of the U.S. Bankruptcy Court for the Central
District of California extended the exclusive period within which
Pacific 9 Transportation, Inc. may file a plan of reorganization
from Oct. 24, 2016 to Nov. 23, 2016.

The Troubled Company Reporter had earlier reported that the Debtor
asked for exclusivity extension: (1) to allow the Debtor to change
its business model from independent contractor truck drivers to
hourly employee truck drivers; (2) to allow enough time to pass
utilizing the new hourly employment model to be able to assess
profitability and provide updated projections supporting
feasibility of any proposed plan; (3) to realize increases in
profitability as result of increased revenues and reduced overhead
expenses; and (4) to resolve any objections to any of the filed
claims.

The Debtor told the Court that as part of the plan to increase the
number of drivers and to convert to an hourly compensation model,
the Debtor will transition from contracting with independent owner
operators to drivers who will operate trucks owned and/or lease by
the Debtor. This will require the Debtor to either purchase or
lease the trucks.

The Debtor further told the Court that the acquisition of trucks
will necessarily be phased in over a period of time because of the
present cash flow constraints. Currently, the Debtor will seek the
Court's authority to enter into a lease agreement outside the
ordinary course of business with Fleet Logic, LLC, dba Velocity
Truck Rental and Leasing, in order to begin leasing three trucks on
a month-to-month basis with the possibility of increasing the
number of trucks that it leases.

                          About Pacific 9 Transportation

Pacific 9 Transportation, Inc. is a trucking company located in Los
Angeles, California that provides trucking services throughout
California. The Debtor rents real property located at 21900 S.
Alameda Street, Los Angeles, CA 90810 for the premises used to
store its trucks, trailers, ocean containers, and legally related
equipment. As of September 1, 2016, the Debtor began using the
premises as its office and principal place of business.

Pacific 9 Transportation, Inc. sought protection under Chapter 11
of the Bankruptcy Code (Bankr. C.D. Calif. Case No. 16-15447) on
April 26, 2016. The petition was signed by Le Phan, CFO. The case
is assigned to Judge Julia W. Brand.  The Debtor estimated both
assets and liabilities in the range of $1 million to $10 million.

The Debtor hires Haberbush & Associates LLP as its general
bankruptcy counsel; and The Law Firm of Atkinson, Andelson, Loya,
Ruud & Romo as its special counsel.

The Office of the U.S. Trustee on June 14 appointed seven creditors
of Pacific 9 Transportation, Inc., to serve on the official
committee of unsecured creditors, namely: Daniel Linares, Amador
Rojas, Fariborz Rostamian, Gilberto Camacho, Hugo Pelayo, Jaime
Guerrero, and Fernando Flores. On July 5, the U.S. Trustee
appointed Victor Castro and Santiago Aguilar to serve on the
official committee of unsecured creditors.

The Official Committee of Unsecured Creditors hired Danning, Gill,
Diamond & Kollitz, LLP as local counsel for the Committee; and
Armory Consulting Company as financial advisor.


PERFORMANCE SPORTS: Amends DIP Financing Agreement
--------------------------------------------------
BankruptcyData.com reported that according to documents filed with
the U.S. Securities and Exchange Commission, Performance Sports
Group entered into (i) Amendment No. 1 to its super-priority D.I.P.
term loan credit agreement to its super-priority term loan credit
agreement (dated October 31, 2016) by and among Performance Sports
Group, the subsidiary guarantors, the lenders and 9938982 Canada
and (ii) Amendment No. 1 to its super-priority D.I.P. ABL credit
agreement for the super-priority ABL credit agreement (dated
October 31, 2016) by and among Performance Sports Group, Bauer
Hockey, the lenders and Bank of America. The amendment notes,
"Subject to the satisfaction of the conditions precedent set forth
in Section 4, Section 8.01(b) of the Credit Agreement is hereby
amended by (i) replacing 15 where it appears therein with 30 and
(ii) inserting 'The Administrative Agent may in its sole and
exclusive discretion extend or waive the period within which the
monthly financial statements required under this section must be
furnished to the Administrative Agent' at the end of the section so
that Section 8.01(b) of the Credit Agreement. Within 30 days after
the close of each of the first two monthly accounting periods in
each fiscal quarter of the Parent (a) the consolidated balance
sheet of the Parent and its Subsidiaries as at the end of such
monthly accounting period and the related consolidated statements
of income and retained earnings and statement of cash flows for
such monthly accounting period and for the elapsed portion of the
fiscal year ended with the last day of such monthly accounting
period, in each case setting forth comparative figures for the
corresponding monthly accounting period in the prior fiscal year
and comparable forecasted figures for such monthly accounting
period based on the corresponding forecasts delivered pursuant to
Section 8.01(j)."

                      About Performance Sports

Exeter, N.H.-based Performance Sports Group Ltd. (NYSE: PSG) (TSX:
PSG) -- http://www.PerformanceSportsGroup.com/-- is a developer
and manufacturer of ice hockey, roller hockey, lacrosse, baseball
and softball sports equipment, as well as related apparel and
soccer apparel.  Its products are marketed under the BAUER,
MISSION, MAVERIK, CASCADE, INARIA, COMBAT and EASTON brand names
and are distributed by sales representatives and independent
distributors throughout the world.  In addition, the Company
distributes its hockey products through its Burlington,
Massachusetts and Bloomington, Minnesota Own The Moment Hockey
Experience retail stores.

On Oct. 31, 2016, Performance Sports Group Ltd. and certain of its
affiliates have filed voluntary petitions under Chapter 11 of the
Bankruptcy Code in the District of Delaware and commenced
proceedings under the Companies' Creditors Arrangement Act in the
Ontario Superior Court of Justice.  

The U.S. Debtors are: BPS US Holdings Inc.; Bauer Hockey, Inc.;
Easton Baseball/Softball Inc.; Bauer Hockey Retail Inc.; Bauer
Performance Sports Uniforms Inc.; Performance Lacrosse Group Inc.;
BPS Diamond Sports Inc.; and PSG Innovation Inc.

The Canadian Debtors are: Performance Sports Group Ltd.; KBAU
Holdings Canada, Inc.; Bauer Hockey Retail Corp.; Easton Baseball
/Softball Corp.; PSG Innovation Corp. Bauer Hockey Corp.; BPS
Canada Intermediate Corp.; BPS Diamond Sports Corp.; Bauer
Performance Sports Uniforms Corp.; and Performance Lacrosse Group
Corp.

The Debtors have hired Paul, Weiss, Rifkind, Wharton & Garrison LLP
as counsel; Young Conaway Stargatt & Taylor, LLP as co-counsel;
Stikeman Elliott LLP as Canadian legal counsel;  Centerview LLP as
investment banker to the special committee; Alvarez & Marsal North
America, LLC, as restructuring advisor; Joele Frank, Wilkinson,
Brimmer, Katcher as communications & relations advisor; KPMG LLP as
auditors; Ernst & Young LLP as CCAA monitor; and Prime Clerk LLC as
notice, claims, solicitation and balloting agent.


PERFORMANCE SPORTS: Committee Objects to DIP Financing Motion
-------------------------------------------------------------
BankruptcyData.com reported that Performance Sports Group's
official committee of unsecured creditors filed with the U.S.
Bankruptcy Court an objection to its motion for D.I.P. financing
approval and the use of cash collateral. The committee asserts,
"The Committee is willing to consider a sale process as a means to
that end. In the Committee's view, the Debtors need liquidity
support and postpetition financing. However, the proposed DIP
Facilities, and in particular the Term DIP Facility, drive
excessive value to the insider-controlled Stalking Horse Purchaser
at the expense of the estates. The proposed DIP Facilities need to
be restructured in a manner that preserves important sources of
possible value for unsecured creditors. In these proceedings, all
senior secured debt appears to be
oversecured -- without any recourse to the assets of the Innovation
Debtors -- and is to be fully satisfied by the Stalking Horse Bid.
Yet holders of general unsecured claims are at risk of a less than
full recovery." The committee also filed with the Court an
objection to the Debtors' proposed bidding procedures and stalking
horse agreement. That objection asserts, "the Committee objects to
the Court's approval of the proposed Bidding Procedures and
Stalking Horse Agreement because, taken together, they would foster
a sale process that runs afoul of the Bankruptcy Code's primary
goal of maximizing value for a debtor's estate and all of its
creditors and instead seek to lock in the transaction for an
insider Stalking Horse Purchaser."

                      About Performance Sports

Exeter, N.H.-based Performance Sports Group Ltd. (NYSE: PSG) (TSX:
PSG) -- http://www.PerformanceSportsGroup.com/-- is a developer
and manufacturer of ice hockey, roller hockey, lacrosse, baseball
and softball sports equipment, as well as related apparel and
soccer apparel.  Its products are marketed under the BAUER,
MISSION, MAVERIK, CASCADE, INARIA, COMBAT and EASTON brand names
and are distributed by sales representatives and independent
distributors throughout the world.  In addition, the Company
distributes its hockey products through its Burlington,
Massachusetts and Bloomington, Minnesota Own The Moment Hockey
Experience retail stores.

On Oct. 31, 2016, Performance Sports Group Ltd. and certain of its
affiliates have filed voluntary petitions under Chapter 11 of the
Bankruptcy Code in the District of Delaware and commenced
proceedings under the Companies' Creditors Arrangement Act in the
Ontario Superior Court of Justice.  

The U.S. Debtors are: BPS US Holdings Inc.; Bauer Hockey, Inc.;
Easton Baseball/Softball Inc.; Bauer Hockey Retail Inc.; Bauer
Performance Sports Uniforms Inc.; Performance Lacrosse Group Inc.;
BPS Diamond Sports Inc.; and PSG Innovation Inc.

The Canadian Debtors are: Performance Sports Group Ltd.; KBAU
Holdings Canada, Inc.; Bauer Hockey Retail Corp.; Easton Baseball
/Softball Corp.; PSG Innovation Corp. Bauer Hockey Corp.; BPS
Canada Intermediate Corp.; BPS Diamond Sports Corp.; Bauer
Performance Sports Uniforms Corp.; and Performance Lacrosse Group
Corp.

The Debtors have hired Paul, Weiss, Rifkind, Wharton & Garrison LLP
as counsel; Young Conaway Stargatt & Taylor, LLP as co-counsel;
Stikeman Elliott LLP as Canadian legal counsel;  Centerview LLP as
investment banker to the special committee; Alvarez & Marsal North
America, LLC, as restructuring advisor; Joele Frank, Wilkinson,
Brimmer, Katcher as communications & relations advisor; KPMG LLP as
auditors; Ernst & Young LLP as CCAA monitor; and Prime Clerk LLC as
notice, claims, solicitation and balloting agent.


PERFORMANCE SPORTS: NYSE Intends to Delist Common Shares
--------------------------------------------------------
Performance Sports Group Ltd. has been notified by the New York
Stock Exchange (the "NYSE") that the staff of NYSE Regulation, Inc.
("NYSE Regulation") had determined to commence proceedings to
delist the common shares of the Company (symbol:PSG) (the "Common
Shares") from the NYSE based on the Company's announcement on
October 31, 2016 that it had filed voluntary petitions under
Chapter 11 of the United States Bankruptcy Code in the District of
Delaware and commenced proceedings under the Companies' Creditors
Arrangement Act in the Ontario Superior Court of Justice.  Trading
of the Common Shares on the NYSE was suspended prior to the opening
of trading on October 31, 2016.  On Nov. 18, 2016, the NYSE filed a
Form 25 with the U.S. Securities and Exchange Commission (the
"SEC"), notifying the SEC of the NYSE's intention to remove the
Common Shares from listing and registration on the NYSE at the
opening of business on November 28, 2016.

Further to the Toronto Stock Exchange (the "TSX") Bulletin
2016-1077 dated October 31, 2016, and following the conclusion of
the expedited review process, the TSX has determined to delist the
Common Shares (symbol:PSG) at the close of business on December 8,
2016 for failure to meet the continued listing requirements of the
TSX.  Trading of the Common Shares on the TSX was suspended prior
to the opening of trading on October 31, 2016.

The Common Shares will remain suspended from trading on the NYSE
and the TSX through to the applicable delisting date; however,
management currently expects that the Common Shares will continue
to be quoted on the U.S. over-the-counter ("OTC") markets following
the respective delistings on OTC Pink(R) under the ticker symbol
"PSGLQ", which is operated by OTC Markets Group.  There is no
assurance that an active market in the trading of the Common Shares
will develop on OTC Pink(R).

In addition, the Company is also providing a bi-weekly status
update in accordance with its obligations under the alternative
information guidelines set out in National Policy 12-203 Cease
Trade Orders for Continuous Disclosure Defaults ("NP 12-203").  As
previously announced, the Company is subject to a management cease
trade order ("MCTO") issued by the Ontario Securities Commission,
the Company's principal regulator in Canada, in connection with the
delayed filing of its Annual Report on Form 10-K, including its
annual audited financial statements for the fiscal year ended May
31, 2016 and the related management's discussion and analysis
(collectively, the "Annual Filings").  The previously announced
internal investigation being conducted on behalf of the audit
committee of the board of directors of the Company in relation to
the finalization of the Company's financial statements and related
certification process (the "Investigation") is in the process of
being resumed following a temporary suspension imposed in an effort
to conserve resources and allow senior management to focus on
achieving operational objectives in the period immediately after
the filing of the previously announced voluntary petitions under
Chapter 11 of the United States Bankruptcy Code in the District of
Delaware and the commencement of proceedings under the Companies'
Creditors Arrangement Act in the Ontario Superior Court of Justice
and the Company advises that (i) there have been no material
changes to the information relating to the delayed filing of its
Annual Filings, (ii) it intends to continue to comply with the
alternative information guidelines of NP 12-203; (iii) except as
previously disclosed, there are no subsequent specified defaults
(actual or anticipated) within the meaning of NP 12-203; and (iv)
there is no other material information concerning the Company and
its affairs that has not been generally disclosed as of the date of
this press release.

The MCTO does not affect the ability of other shareholders to trade
in the securities of the Company, but restricts the ability of the
Company's Chief Executive Officer and Chief Financial Officer from
trading in securities of the Company until two full business days
after all filings the Company is required to make under applicable
securities law have been made or further order of the Ontario
Securities Commission; however, the Ontario Securities Commission
could determine, in its discretion, that it would be appropriate to
issue a general cease trade order against the Company affecting all
of the securities of the Company.  The MCTO was issued in response
to an application made by the Company in connection with the
Company's delay in filing its Annual Filings by the applicable
filing deadline.

                      About Performance Sports

Exeter, N.H.-based Performance Sports Group Ltd. (NYSE: PSG) (TSX:
PSG) -- http://www.PerformanceSportsGroup.com/-- is a developer
and manufacturer of ice hockey, roller hockey, lacrosse, baseball
and softball sports equipment, as well as related apparel and
soccer apparel.  Its products are marketed under the BAUER,
MISSION, MAVERIK, CASCADE, INARIA, COMBAT and EASTON brand names
and are distributed by sales representatives and independent
distributors throughout the world.  In addition, the Company
distributes its hockey products through its Burlington,
Massachusetts and Bloomington, Minnesota Own The Moment Hockey
Experience retail stores.

On Oct. 31, 2016, Performance Sports Group Ltd. and certain of its
affiliates have filed voluntary petitions under Chapter 11 of the
Bankruptcy Code in the District of Delaware and commenced
proceedings under the Companies' Creditors Arrangement Act in the
Ontario Superior Court of Justice.  

The U.S. Debtors are: BPS US Holdings Inc.; Bauer Hockey, Inc.;
Easton Baseball/Softball Inc.; Bauer Hockey Retail Inc.; Bauer
Performance Sports Uniforms Inc.; Performance Lacrosse Group Inc.;
BPS Diamond Sports Inc.; and PSG Innovation Inc.

The Canadian Debtors are: Performance Sports Group Ltd.; KBAU
Holdings Canada, Inc.; Bauer Hockey Retail Corp.; Easton Baseball
/Softball Corp.; PSG Innovation Corp. Bauer Hockey Corp.; BPS
Canada Intermediate Corp.; BPS Diamond Sports Corp.; Bauer
Performance Sports Uniforms Corp.; and Performance Lacrosse Group
Corp.

The Debtors have hired Paul, Weiss, Rifkind, Wharton & Garrison LLP
as counsel; Young Conaway Stargatt & Taylor, LLP as co-counsel;
Stikeman Elliott LLP as Canadian legal counsel;  Centerview LLP as
investment banker to the special committee; Alvarez & Marsal North
America, LLC, as restructuring advisor; Joele Frank, Wilkinson,
Brimmer, Katcher as communications & relations advisor; KPMG LLP as
auditors; Ernst & Young LLP as CCAA monitor; and Prime Clerk LLC as
notice, claims, solicitation and balloting agent.


PETROLIA ENERGY: Recurring Losses Raises Going Concern Doubt
------------------------------------------------------------
Petrolia Energy Corporation filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, disclosing a
net loss of $596,550 on $21,863 of total revenue for the three
months ended September 30, 2016, compared to a net loss of $202,640
on $34,689 of total revenue for the same period in 2015.

For the nine months ended September 30, 2016, the Company recorded
a net loss of $1.30 million on $277,156 of total revenue, compared
to a net loss of $1.33 million on $162,848 of total revenue for the
same period last year.

The Company's balance sheet at September 30, 2016, showed total
assets of $13.13 million, total liabilities of $5.77 million, and a
stockholders' equity of $7.36 million.

The Company has suffered recurring losses from operations.  These
conditions raise substantial doubt about the Company's ability to
continue as a going concern.  The Company plans to generate profits
by reworking its existing oil or gas wells and drilling additional
wells, as needed.  The Company will need to raise funds through
either the sale of its securities, issuance of corporate bonds,
joint venture agreements and/or bank financing to accomplish its
goals.  The Company does not have any commitments or arrangements
from any person to provide the Company with any additional capital,
at this time.  If additional financing is not available when
needed, the Company may need to cease operations.   

A full-text copy of the Company's Form 10-Q is available at:
                
                   https://is.gd/OJ5Oeb

Based in Houston, Texas, Petrolia Energy Corporation is an oil and
gas exploration, development, and production company.



PLANET INTERMEDIATE: S&P Affirms 'BB-' CCR; Outlook Remains Stable
------------------------------------------------------------------
S&P Global Ratings affirmed all ratings, including its 'BB-'
corporate credit rating, on Planet Intermediate LLC and revised its
assessment of Planet's financial policy score to 'neutral' from
'FS-5'.  The outlook remains stable.

S&P's revision of Planet's financial policy assessment is based on
financial sponsor owner TSG Consumer Partners LLC announcing that
it has sold down its equity stake through a secondary offering,
reducing its voting power to 31.3%, below our 40% threshold for
control.  The revision has no effect on the issuer and debt-level
ratings.



POWIN ENERGY: Needs to Generate Cash to Continue as a Going Concern
-------------------------------------------------------------------
Powin Energy Corporation filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, disclosing a
net loss of $1.81 million on $11,847 of net sales for the three
months ended September 30, 2016, compared to a net loss of $277,073
on $40,979 of net sales for the same period in 2015.

For the nine months ended September 30, 2016, the Company recorded
a net loss of $523,988 on $33,243 of net sales, compared to a net
income of $788,584 on $127,638 of net sales for the same period
last year.

The Company's balance sheet at September 30, 2016, showed total
assets of $6.71 million, total liabilities of $4.05 million, $2.86
million in non-controlling interest, and a stockholders' equity of
$5.52 million.

The Company sustained net loss attributable to Powin Corporation of
$4,195,861 and $3,693,206 during the nine months ended September
30, 2016 and 2015.  The Company has accumulated deficit of
$26,256,731 as of September 30, 2016.  The Company's continuation
as a going concern is dependent on its ability to generate
sufficient cash flows from operations to meet its obligations
and/or obtain additional financing, as may be required.

The accompanying condensed consolidated financial statements have
been prepared assuming that the Company will continue as a going
concern; however, the above condition raises substantial doubt
about the Company's ability to do so.

A full-text copy of the Company's Form 10-Q is available at:
                
                   https://is.gd/5obm3d

Powin Energy Corporation provides manufacturing coordination,
design and logistics services for companies to outsource its
manufacturing needs.  Manufacturing is provided through the
Company's subsidiary, Q Pacific Manufacturing Corporation ("Q
Pacific Manufacturing"), with a leased metal fabrication plant in
Tualatin, Oregon; its 100% owned subsidiary in Mexico, with a
leased metal fabrication plant in Saltillo; or through very strong
relationships with factories located in The People's Republic of
China and in Taiwan.


PRESSURE BIOSCIENCES: Incurs $945,000 Net Loss in Third Quarter
---------------------------------------------------------------
Pressure Biosciences, Inc., filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $945,207 on $535,334 of total revenue for the three months ended
Sept. 30, 2016, compared to a net loss of $657,928 on $580,334 of
total revenue for the three months ended Sept. 30, 2015.

For the nine months ended Sept. 30, 2016, the Company reported a
net loss of $5.93 million on $1.55 million of total revenue
compared to a net loss of $3.43 million on $1.43 million of total
revenue for the same period a year ago.

As of Sept. 30, 2016, Pressure Biosciences had $1.89 million in
total assets, $14.65 million in total liabilities and a total
stockholders' deficit of $12.75 million.

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

                     https://is.gd/5V9C7z

                   About Pressure Biosciences

Pressure BioSciences, Inc., headquartered in South Easton,
Massachusetts, holds 14 United States and 10 foreign patents
covering multiple applications of pressure cycling technology in
the life sciences field.

Pressure Biosciences reported a net loss of applicable to common
shareholders of $7.43 million on $1.79 million of total revenue for
the year ended Dec. 31, 2015, compared to a net loss applicable to
common shareholders of $6.25 million on $1.37 million of total
revenue for the year ended Dec. 31, 2014.

MaloneBailey LLP, in Houston, Texas, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2015, citing that the Company has a working capital
deficit and has incurred recurring net losses and negative cash
flows from operations.  These conditions raise substantial doubt
about its ability to continue as a going concern.


PRIORITY HOLDINGS: S&P Assigns 'B' CCR & Rates US$25MM Loan 'B'
---------------------------------------------------------------
S&P Global Ratings said that it assigned its 'B' corporate credit
rating to Georgia-based Priority Holdings LLC.  The rating outlook
is stable.

At the same time, S&P assigned its 'B' issue-level rating and '3'
recovery rating to the company's proposed $25 million, five-year
first-lien revolver and $200 million, six-year first-lien term
loan.  The '3' recovery rating indicates S&P's expectation for
meaningful recovery (lower half of the 50%-70%range) of principal
in the event of a payment default.

The borrowers of the credit facilities are Priority Payment Systems
Holdings LLC, Priority Institutional Partner Services LLC, and
Pipeline Cynergy Holdings LLC.

S&P's 'B' corporate credit rating on Priority reflects the
company's modest scale, high leverage and heavy reliance on
independent sales organizations (ISOs) to acquire merchants.  S&P
expects adjusted debt to EBITDA to decline to under 6x by the end
of 2017 from 7x as of Aug. 31, 2016, pro forma for the debt raise.
Supporting the rating is Priority's track record of solid growth in
merchant count and transaction volume, as well as its ability to
retain merchants by integrating payment processing with its
internally-developed software.

Priority is the eighth-ranked non-bank payment processor in the
U.S., according to The Nilson Report's March 2016 list.  As of Aug.
31, 2016, the company processed annual transaction volumes of $29.4
billion, a number that has grown at a 15% compound annual rate
since 2013.  Over the next two years, S&P expects industry
transaction volume growth to continue in the mid- to
high-single-digit percents, driven by normal consumer spending and
the ongoing conversion from cash to electronic-based transactions
in the SMB space.  Priority also operates a commercial payment
business line that facilitates business-to-business payments
between buyers and suppliers and loan activation services through
long-term contracts with major financial institutions.  This
segment provides some diversification outside of its traditional
merchant acquiring business.

Priority outsources much of its front- and back-office processing
to other full-suite processing providers, giving it a higher
variable cost structure than that of some of its peers, which
limits margin expansion when growing merchant count.  In addition,
a majority of its revenues are acquired through ISO networks, which
tend to be lower-margin sales channels than direct sales. However,
Priority's bundling of payment processing with its proprietary
enterprise software offerings have resulted in a stickier customer
base, with lower levels of merchant attrition, than other
comparable payment processors.

While S&P believes Priority will have the ability to reduce
leverage to around 5x by the end of 2018 through EBITDA growth, S&P
recognizes the appetite of payment processors to acquire growth to
gain market share, as evidenced by recent consolidation in the
industry.  As such, S&P expects the company to maintain moderate
leverage and use cash to fund growth.

   -- Real U.S. GDP growth of 2.0% in 2016 and 2.4% in 2017;

   -- High-single-digit percent organic revenue growth in 2017 and

      2018, driven by normal consumer spending and the ongoing
      global conversion from cash to card and electronic-based
      transactions; and

   -- Modest EBITDA margin expansion over the next two years
      driven by increased scale.

Based on these assumptions, S&P arrives at these credit measures in
2016 and 2017:

   -- Pro forma debt to EBITDA of about 7X at the end of 2016
      declining to under 6x by the end of 2017, driven primarily
      by EBITDA growth; and

   -- Free cash flow to debt improving to around 7% in 2017.

S&P views Priority's liquidity as adequate.  S&P expects net
sources would be positive in the near term even with a 15% decline
from current levels, and that coverage would exceed uses by 1.2x
over the coming 12 months.

Principal liquidity sources:

   -- Cash balance of around $9 million at the close of the
      transaction;

   -- Full availability under its new $25 million revolver which
      expires in 2021; and

   -- S&P expects annual cash from operations of $20 million-
      $25 million.

Principal liquidity uses:

   -- Mandatory first-lien debt amortization of around $2 million
      per year;

   -- Total capital expenditures of about $6 million-$7 million
      annually (of which about $4 million-$5 million is software
      development cost S&P expenses as a reduction to EBITDA); and


   -- Minimal working capital use.

Covenant:

   -- The company will be governed by a maximum total net leverage

      ratio maintenance covenant that S&P expects to be set at a
      30% EBITDA cushion at inception.

S&P's stable outlook reflects the expectation that the company will
continue to grow organically in the high-single-digit percents over
the next two years through continued strong transaction growth and
low merchant attrition, which will lead to deleveraging over the
coming year.

The ratings could be lowered if revenues decline from loss of
merchants or pricing pressure, margins deteriorate, or leverage
stays above 6.5x.

Although unlikely over the coming year, S&P could consider an
upgrade over time if Priority continues to grow net revenues
consistently in the mid-single–digit percents and improves EBITDA
margins through operating efficiency or diversification of sales
channels while maintaining leverage under 5x.

S&P's simulated default scenario assumes a default in 2019 due to a
weaker economic environment, significant declines in merchant
transaction volumes, and a shift in regulatory or market dynamics
that lead to heightened competition or pricing.  S&P has valued the
company on a going-concern basis using a 5x multiple, in line with
other SMB payment processor peers.

   -- Simulated year of default: 2019
   -- EBITDA at Emergence: 28
   -- EBITDA Multiple: 5x
   -- Net enterprise value (after 5% admin. costs): 133
   -- Valuation split in % (obligors/nonobligors): 100/0
   -- Value available to first-lien debt claims
      (collateral/noncollateral): 133
   -- Secured first-lien debt claims: 227
   -- Recovery expectations: lower half of the 50%-70% range

Notes: 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.



RAYMOND WALDING: Disclosures Okayed; Plan Hearing on Jan. 10
------------------------------------------------------------
The Hon. Jerry C. Oldshue, Jr., of the U.S. Bankruptcy Court for
the Southern District of Alabama has approved Raymond Fred Waldin
and Marsha Walding's disclosure statement filed on March 21, 2016,
and as amended on Oct. 5, 2016, and referring to the Debtors'
second amended plan of reorganization filed on Oct. 5, 2016.

Hearing on the confirmation of the Plan must be filed by Jan. 10,
2017, at 9:30 a.m.

Written acceptances or rejections of the Plan must be filed by Jan.
3, 2017.

The Debtor's Plan proposes to pay unsecured creditors, whose claims
total $17,400,000, a total of $60,000, to be paid at $1,000 per
month for 60 months starting 60 days from the date of confirmation
of the plan.

The Debtor, who has an alimony obligation to his ex-spouse,
negotiated to reduce the monthly obligation to $1,000 with
approximately 20-22 more months remaining to be paid.

The Debtor's only secured creditor left who has not recovered its
collateral is Bank of America who holds a first mortgage on the
Debtor's homeplace in the amount of $819,000, and Compass Bank,
who
holds a second mortgage in the amount of $148,000.

As of September 26, the Debtor's monthly income totals $6,596.
The
Debtor's average monthly living expenses total approximately
$5,500, giving him approximately $2,000 to be paid under the Plan.

Raymond Walding filed a Chapter 11 petition (Bankr. S.D. Ala. Case
No. 11-04878) on November 30, 2011.  Mr. Walding was one of the
three principals in Merritt Oil Company, which suffered decline in
2009.  Mr. Walding was forced to seek Chapter 11 protection when
BankTrust required him and another principal to personally
guarantee Merritt's debt and secured the same with multiple
mortgages on their personal and business assets.

The Debtors are represented by Barry A. Friedman, Esq., at Barry A.
Friedman & Associates, PC.


RESIDENTIAL CAPITAL: Trust Appoints Ray as Liquidating Manager
--------------------------------------------------------------
The ResCap Liquidating Trust on Nov. 18, 2016, announced the
appointment of John J. Ray III, senior managing director at
Greylock Partners, LLC, as Liquidating Trust Manager.  Mr. Ray has
been serving as the Trust's Chief Legal Counsel over the past year
and, in this capacity, managed its RMBS litigation and was the
principal representative in approximately 60 mediations of the
cases.  Mr. Ray will replace John Dubel, who will remain a member
of the Board of the Trust.

Mr. Ray has extensive experience as a chief restructuring officer
and plan administrator in notable bankruptcy cases and situations
involving Overseas Shipholding Group Inc., Nortel Networks Inc. and
the Enron Corporation.

Board Chairman Mitchell Sonkin commented:  "As we continue to
vigorously pursue litigation claims against banks and financial
institutions for their improper activities that we believe
substantially harmed the beneficiaries of the ResCap Trust, John
Ray's strong track record and familiarity with legal matters will
continue to benefit our efforts, and the efforts of our lead
litigation counsel, Quinn Emanuel.  In his capacity as Liquidating
Trust Manager, John will now bring his proven track record to the
overall management of the Trust."

Mr. Sonkin continued: "I want to thank John Dubel for his service
as Liquidating Trust Manager, particularly over the past several
months pending the engagement of a new Liquidating Trust Manager,
after his appointment in June 2016 as chief executive officer of
SunEdison, Inc."

Mr. Ray remarked: "I look forward to helping accelerate the strong
momentum we established on the litigation and mediation fronts, and
to continuing the monetization of the Trust's other assets.  Our
uptick in recoveries over the past twelve months demonstrates that
we have the right personnel and strategy in place to continue
unlocking and maximizing value for Unitholders moving forward."

               About the ResCap Liquidating Trust

The ResCap Liquidating Trust was established in December 2013 under
the Second Amended Joint Chapter 11 Plan of Residential Capital,
LLC, et al. to liquidate and distribute assets of the debtors in
the ResCap bankruptcy case.  The Trust maintains a website at
www.rescapliquidatingtrust.com, which Unitholders are urged to
consult, where Unitholders may obtain information concerning the
Trust, including current developments.

                    About Residential Capital

Residential Capital LLC, the unprofitable mortgage subsidiary of
Ally Financial Inc., filed for bankruptcy protection (Bankr.
S.D.N.Y. Lead Case No. 12-12020) on May 14, 2012.  Neither Ally
Financial nor Ally Bank is included in the bankruptcy filings.

ResCap, one of the country's largest mortgage originators and
servicers, was sent to Chapter 11 with 50 subsidiaries amid
"continuing industry challenges, rising litigation costs and
claims, and regulatory uncertainty," according to a company
statement.

ResCap disclosed $15.7 billion in assets and $15.3 billion in
liabilities at March 31, 2012.

Centerview Partners LLC and FTI Consulting are acting as financial
advisers to ResCap.  Morrison & Foerster LLP is acting as legal
adviser to ResCap.  Curtis, Mallet-Prevost, Colt & Mosle LLP is the
conflicts counsel.  Rubenstein Associates, Inc., is the public
relations consultants to the Company in the Chapter 11 case.
Morrison Cohen LLP is advising ResCap's independent directors.
Kurtzman Carson Consultants LLP is the claims and notice agent.

Ray C. Schrock, Esq., at Kirkland & Ellis LLP, in New York, serves
as counsel to Ally Financial.

ResCap sold most of the businesses for a combined $4.5 billion.

The Bankruptcy Court in November 2012 approved ResCap's sale of its
mortgage servicing and origination platform assets to Ocwen Loan
Servicing, LLC and Walter Investment Management Corporation for $3
billion; and its portfolio of roughly 50,000 whole loans to
Berkshire Hathaway for $1.5 billion.

Judge Martin Glenn in December 2013 confirmed the Joint Chapter 11
Plan co-proposed by Residential Capital and the Official Committee
of Unsecured Creditors.


RICHARD DADASIEWICZ: Unsecureds To Get $100 for 60 Months
---------------------------------------------------------
Richard James Dadasiewicz and Denise Dadeaiewicz filed with the
U.S. Bankruptcy Court for the District of Arizona a first amended
disclosure statement filed on Nov. 14, 2016, accompanying the
Debtor's Chapter 11 plan.

Class 5 - General Unsecured Claims is impaired by the Plan.  Each
holder of an allowed Class 5 Claim is entitled to vote to accept or
reject the Plan.  Each holder of an allowed general unsecured claim
will receive its pro rata share of monthly payments of $100 for a
period of 60 months in full satisfaction of their claim.  The first
payment to Class 5 will commence the first full month following the
effective date of the Plan.

Classes 1, 2, 3, 4, 5 and 6 will be funded by the Debtors' separate
incomes.  The Debtor is a self-employed individual and will
contribute his income to the Plan.  The proceeds of the sale of the
Debtors' Windwalker property, which the Debtor estimates at no less
than $40,000, will also fund the obligations to Class 2 under the
Plan.  Co-debtor Denise Dadasiewicz will also contribute her income
earned as an assistant manager of Elk North Hill, LLC.  Finally,
during the course of the bankruptcy case the Debtors have carefully
reviewed and reduced their expenses in preparation of the Plan.
Although Mr. Dadasciewiscz's income is not regular or fixed, Debtor
believes that the obligations under the plan are manageable and
account for his stratified monthly income.

The First Amended Disclosure Statement is available at:

           http://bankrupt.com/misc/azb15-13022-117.pdf

The Plan was filed by the Debtor's counsel:

     C.R. Hyde, Esq.
     LAW OFFICES OF C.R. HYDE, PLC
     325 W. Franklin Street, Suite 103
     Tucson, Arizona 85701
     Tel: (520) 270-1110

Richard James Dadasiewicz and Denise Dadeaiewicz filed for Chapter
11 bankruptcy protection (Bankr. D. Ariz. Case No. 15-13022) on
Oct. 12, 2015.


ROOMSTORES OF PHOENIX: Unsecureds May Be Paid 1% Per Annum
----------------------------------------------------------
The Roomstores of Phoenix, L.L.C., and the Official Committee of
Unsecured Creditors filed with the U.S. Bankruptcy Court for the
District of Arizona a disclosure statement in support of joint
Chapter 11 plan of liquidation dated Nov. 14, 2016.

Allowed Class 4 - General Unsecured Creditors will be paid without
interest on a pro rata basis after all allowed administrative
claims, allowed priority tax claims, and Class 1, Class 2(a), Class
2(b) deposit claims, and Class 3 have been paid in full.  The
initial distributions to unsecured creditors will be made 180 days
after the Effective Date.  Subsequent distributions will be made in
a timely fashion as prudent in the sole discretion of the
Liquidating Trustee until all liquidation proceeds are distributed.
This class is impaired and entitled to vote on the Plan.  In the
event sufficient funds are available to pay all allowed claims in
this class in full, the Liquidating Trustee will pay interest at a
rate of 1% per annum.  The Debtor believes the claims in this class
total approximately $19,020,345.

On the Effective Date a Liquidating Trust will be created pursuant
to the Roomstores Liquidating Trust Agreement to facilitate all
distributions required by the Plan and other functions required to
wind-down the Debtor's Estate.  On the Effective Date, all assets
of the Debtor's estate, including but not limited to cash or cash
equivalents, accounts receivable, intellectual property and causes
of action will be transferred to the Liquidating Trust and will be
used to pay allowed claims and interests after the payment or
reservation for the expenses of administering the Liquidating
Trust, including the winding down and closing of the bankruptcy
case and all necessary administrative and professional fees and
costs.  As of Sept. 30, 2016, the Debtor was holding approximately
$3,200,000 in unrestricted cash and immediate cash receivables of
about $400,000.

The Disclosure Statement is available at:

            http://bankrupt.com/misc/azb15-15898-550.pdf

The Plan was filed by the Debtor's counsel:

     Carolyn J. Johnsen, Esq.
     Katherine Anderson Sanchez, Esq.
     DICKINSON WRIGHT PLLC
     1850 North Central Avenue, Suite 1400
     Phoenix, Arizona 85004
     Tel: (602) 285-5000
     Fax: (844) 670-6009
     E-mail: cjjohnsen@dickinsonwright.com
             ksanchez@dickinsonwright.com

                   About Roomstores of Phoenix

The Roomstores of Phoenix, L.L.C., dba The Roomstore, is an Arizona
limited liability company with its principal operations in
Phoenix, Arizona.  The Debtor was formed in 1993 to operate two
furniture retail locations and grew such that on the Petition Date
it operated a warehouse and eleven leased showrooms located
throughout the Phoenix area, in Casa Grande and Prescott, Arizona.
The Debtor's members on the Petition Date consisted of Alan Levitz
(33.5%), Phil Levitz (33.5%), and Dan Selznick (33%).  Phil Levitz
passed away in early 2016 and the Debtor believes his estate has
succeeded to his interest.

The Debtor sought protection under Chapter 11 of the Bankruptcy
Code in the District of Arizona (Phoenix) (Case 15-15898) on Dec.
18, 2015.   The petition was signed by Alan Levitz, manager.  The
case is assigned to Judge Daniel P. Collins.  The Debtor estimated
both assets and liabilities in the range of $1 million to $10
million.


ROTH MANAGEMENT: 9th Cir. Affirms Ruling Upholding Objections
-------------------------------------------------------------
The United States Court of Appeals for the Ninth Circuit affirmed
the district court's order which affirmed the bankruptcy court's
order sustaining the objections of Fairmount L.P. and Debra Roth in
the Chapter 11 bankruptcy proceedings of Roth Management
Corporation.

The Ninth Circuit agreed with the bankruptcy court's finding that
the key language from the state court judgment regarding the alter
ego status of James Roth, Roth Management Corporation, and Roth
Construction Corporation was unclear because it arguably includes
several permutations of liability, including one permutation
(reverse veil piercing) that is not available under California law.


"The bankruptcy court properly concluded that the state court
judgment was ambiguous.  Because Plikaytis could not show with
clarity and certainty that the issues of reverse veil piercing and
single-enterprise liability had been determined by the state court,
the bankruptcy court could not apply collateral estoppel," held the
Ninth Circuit.

The case is In re: ROTH MANAGEMENT CORPORATION, Debtor, ANICE
PLIKAYTIS, Plaintiff-Appellant, v. FAIRMONT L.P.; DEBRA ANN ROTH,
Defendants-Appellees, No. 14-56408 (9th Cir.).

A full-text copy of the Ninth Circuit's November 7, 2016 memorandum
is available at https://is.gd/DKOcXE from Leagle.com.

                    About Roth Management

Roth Management Corporation, based in San Diego, California, filed
for Chapter 11 bankruptcy (Bankr. S.D. Cal. Case No. 10-07663) on
May 3, 2010.  Judge Peter W. Bowie presided over the case.
K. Todd Curry, Esq., at Curry & Associates, served as the Debtor's
counsel.  In its petition, Roth estimated $1 million to
$10 million in assets and liabilities.  The petition was signed by
James Roth, president and owner.

James Roth also filed an individual Chapter 11 petition (Case No.
10-007659) on May 3, 2010.


RSF 17872: Pursues Asset Sale, Needs Until March 20 to File Plan
----------------------------------------------------------------
RSF 17872 Via Fortuna LLC seeks a 120-day extension from the U.S.
Bankruptcy Court for the Southern District of California of its
exclusive periods to file and obtain acceptance of a plan of
reorganization from Nov. 20, 2016 to March 20, 2017, and from Jan.
19, 2017 to May 19, 2017, respectively.

The Debtor is a single purpose entity established to hold title to
an 11-acre property improved with a residence, guest house, large
horse barn and office located at 17872 Via De Fortuna, Rancho Santa
Fe.  Steven Marshall, through various entities, owns and controls
the Debtor.   

Mr. Marshall and his related entities have substantial equity in a
number of different highly valuable assets, including a
thoroughbred farm in Kentucky, and a majority ownership interest in
approximately 6,500 acres of land located in Colorado  near Denver
International Airport that is on the market for $15,250 per acre
(which would result in total gross sales proceeds in excess of
$99,000,000).

The Debtor seeks the requested extensions in order to give its
related entities sufficient time to market and sell one or more of
their assets, to prepare and file a plan and disclosure statement,
and to attempt to obtain acceptance of its plan.   The Debtor
anticipates such sale to provide the Debtor with sufficient funds
to pay all administrative expenses in full, and to propound a plan
that will pay all creditors in full.

A hearing on the Debtor's motion will be held on December 20, 2016
at 2:30 p.m.

                        About RSF 17872 Via De Fortuna LLC         
     

RSF 17872 Via De Fortuna LLC sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. S.D. Calif. Case No. 16-04436) on July
22, 2016.  The petition was signed by Black Rock Thoroughbreds,
LLLP, manager.  The Debtor is represented by Todd Ringstad, Esq. at
Ringstad & Sanders LLP.   At the time of the filing, the Debtor
estimated its assets at $10  million to $50 million and debts at $1
million to $10 million.
   
The Office of the U.S. Trustee disclosed in a court filing that no
official committee of unsecured creditors has been appointed in the
Chapter 11 case of RSF 17872 Via De Fortuna LLC.


SAAD INC: Court Allows Cash Collateral Use Through Jan. 31
----------------------------------------------------------
Judge Joan N. Feeney of the U.S. Bankruptcy Court for the District
of Massachusetts authorized Saad, Inc., to use cash collateral
through Jan. 31, 2017, on the same terms and conditions as
previously ordered by the Court during the original hearing.

The Debtor was directed to file a reconciliation of budget to
actual figures by Jan. 7, 2017.

A full-text copy of the Order, dated Nov. 18, 2016, is available at

http://bankrupt.com/misc/SaadInc2016_1613691_47.pdf

                      About Saad, Inc.

Saad, Inc., owns and operates a gas station located at 899 Belmont
Street, Brockton, Massachusetts.

Saad, Inc. filed a chapter 11 petition (Bankr. D. Mass. Case No.
16-13691) on Sept. 27, 2016.  The petition was signed by Yacoub G.
Saad, president.  The Debtor is represented by Norman Novinsky,
Esq., at Novinsky & Associates.  The case is assigned to Judge Joan
N. Feeney.  The Debtor disclosed total assets at $1.26 million and
total liabilities at $734,638.

The Debtor continues to operate as a debtor-in-possession pursuant
to Sections 1107 and 1108 of the Bankruptcy Code.  No official
committee of creditors has been appointed in the case.


SANDIA RESORTS: Bid for Designation of Ramada's Ballots Denied
--------------------------------------------------------------
Judge Robert H. Jacobvitz of the United States Bankruptcy Court for
the District of New Mexico denied Sandia Resorts, Inc.'s Amended
Motion for Designation of Ramada Worldwide, Inc.'s Ballots
Accepting NCG, LLC's Amended Plan and Rejecting Debtor's Second
Amended Plan under 11 U.S.C. Section 1126(e) as Having Been
Solicited in Bad Faith ("Motion for Designation of Ballots").

The debtor owns and operates the America's Best Value Inn (the
"Hotel") located at Alameda and I-25 in Albuquerque, New Mexico.
NCG, LLC, purchased the note and mortgage secured by the Hotel from
First National Bank of Santa Fe.  NCG filed a proof of claim
asserting a secured claim against the estate in the amount of
$1,876,286.16 representing unpaid principal, interest, receiver
advances, costs and fees.

NCG filed a Chapter 11 Liquidation Plan and Disclosure Statement
for the Creditor's Liquidation Plan on June 3, 2016.  Sandia
Resorts also filed a Chapter 11 Plan of Reorganization and a
Disclosure Statement to Debtor's Plan of Reorganization on June 28,
2016.  Both were required to amend their plan and/or disclosure
statement.

Sandia Resorts' Second Amended Plan provides for its continued
operation of the Hotel. Under Sandia Resorts' Second Amended Plan,
holders of allowed unsecured claims are to receive a pro rata share
of $66,000 over a sixty-month period beginning 60 days after the
plan's effective date.

NCG's Amended Plan is a liquidating plan that proposes to sell
Sandia Resorts' assets free and clear of all liens, claims and
encumbrances to NCG in full satisfaction of its mortgage
indebtedness.  NCG asserts that under its Amended Plan, unsecured
creditors will likely receive fifteen cents on the dollar.

If NCG acquires the Hotel through confirmation of NCG's plan, NCG
would endeavor to re-flag the hotel to a higher level flag.

Typically, the hotel owner signs a franchise agreement under which
it pays a percentage of its gross revenues to the franchisor in
exchange for flying its "flag."  Although the Hotel at one time was
flagged as a Ramada hotel with Ramada Worldwide, Inc. (RWI), the
Hotel is currently flagged as an America's Best Value Inn (ABV),
which is part of the Vantage hotel group.  RWI is part of the
Wyndham hotel group.  Ramada, which is one of the Wyndham group's
flags, is considered a higher quality flag than ABV.  RWI is a
large institutional creditor; it is represented by bankruptcy
counsel in this bankruptcy case.  If the Court disregards any
deficiency claim NCG might have, RWI is Sandia Resorts' largest
unsecured creditor, having filed an unsecured claim in the amount
of $324,105.63.  

Gary Grewal, the principal of NCG, began investigating options for
reflagging the Hotel in June of 2016.  He considered retaining the
ABV flag if necessary.  He also reached out to representatives of
RWI.  NCG's counsel also sent several emails to counsel and other
representatives of RWI concerning NCG's and Sandia Resorts'
competing plans, voting, and Grewal's discussions with contacts at
RWI regarding the potential reflagging of the Hotel.

RWI voted to reject Sandia Resorts' Second Amended Plan, and voted
to accept NCG's Amended Plan.  

Sandia Resorts requested the Court to "designate" RWI pursuant to
11 U.S.C. section 1126(e) as an entity whose votes rejecting Sandia
Resorts' Second Amended Plan and accepting NCG's Amended Plan were
solicited or procured in bad faith.  If RWI is designated, its
ballot rejecting Sandia Resorts' Second Amended Plan will not be
counted under 11 U.S.C. section 1126(c) for purposes of determining
whether the class of unsecured claims that includes RWI's claim has
accepted Sandia Resorts' Second Amended Plan; nor will RWI's ballot
accepting NCG's Amended Plan be counted.  

Sandia Resorts contended that NCG's email communication constitutes
an improper solicitation because it was made before the Court
conditionally approved Sandia Resorts' Amended Disclosure
Statement.

Judge Jacobvitz, however, found that, although post-petition
solicitation efforts may not begin until after the Court approves
the disclosure statement or upon conditional approval of a
disclosure statement containing "adequate information," all of
NCG's communications regarding its own plan occurred after the
Court conditionally approved NCG's Disclosure Statement on June 8,
2016.

Further, Judge Jacobvitz also found that while the email asks for
RWI's help in voting to accept NCG's Plan, it does not contain a
clear request for a vote to reject Sandia Resorts' Plan.  Even
though this communication occurred before the conditional approval
of Sandia Resorts' Amended Disclosure Statement, Judge Jacobvitz
found that the communication does not constitute a solicitation of
a vote to reject Sandia Resorts' plan and is, therefore, an
insufficient basis by itself for designation of RWI under 11 U.S.C.
section 1126(e).

Judge Jacobvitz thus held that the facts and circumstances
surrounding NCG's actions do not rise to the level of improper
solicitation under 11 U.S.C. section 1125(b) nor bad faith
solicitation under 11 U.S.C. section 1126(e).

"Sandia Resorts has not met its burden of demonstrating that NCG's
solicitation or procurement of RWI's vote was not in good faith.
NCG's negotiations with RWI regarding the future potential to
re-flag the Hotel with RWI after confirmation fail to demonstrate
an improper ulterior motive justifying designation of RWI under 11
U.S.C. section 1126(e).  As Sandia Resorts conceded, RWI's actions
in voting its claim are not at issue.  NCG did not improperly
influence RWI or taint the voting process by reaching out to RWI to
explore the possibility of re-flagging the Hotel with RWI in the
event NCG acquires the Hotel through confirmation of its plan.  In
sum, the Court is not persuaded that NCG failed to solicit RWI's
vote in good faith," Judge Jacobvitz concluded.

A full-text copy of Judge Jacobvitz's November 4, 2016 memorandum
opinion is available at https://is.gd/QC4rgr from Leagle.com.

Sandia Resorts, Inc, New Mexico Corporation, is represented by:

          Stephen C.M. Long, Esq.
          8418 Washington St., N.E., Suite A
          Albuquerque, NM 87113
          Tel: (505)338-4021
          Fax: (505)796-5084
          Email: steve@nmlawoffices.com

            -- and --

          Shay E. Meagle, Esq.
          MEAGLE LAW, P.A.
          6500 Jefferson St. NE, Ste. 260
          Albuquerque, NM 87109-3490
          Tel: (505)255-0202
          Fax: (505)503-7641

            -- and --

          Joshua R. Simms, Esq.
          JRSPC, LLC
          404 San Mateo, NE
          Albuquerque, NM 87181-0332

Western Receiver, Trustee & Consulting Services, Ltd., is
represented by:

          Nathan C. Sprague, Esq.
          Ronald A. Tucker, Esq.
          MOSES DUNN FARMER & TUTHILL PC
          612 First Street NW
          Albuquerque, NM 87125-7047
          Tel: (505)843-9440
          Email: nathan@moseslaw.com
                 ron@moseslaw.com

United States Trustee, U.S. Trustee, is represented by:

          Leonard K. Martinez-Metzgar, Esq.
          OFFICE OF THE UNITED STATES TRUSTEE
          421 Gold Avenue SW, Room 112
          Albuquerque, NM 87102
          Tel: (505)248-6544
          Fax: (505)248-6558

                    About Sandia Resorts

Sandia Resorts, Inc., filed a Chapter 11 petition (Bankr. D.N.M.
Case No. 15-11532) on June 9, 2015.  The Debtor was represented by
Joshua R Simms, Esq.  At the time of filing, the Debtor had
estimated assets and liabilities of $1 million to $10 million.

Sandia Resorts, Inc., dba America's Best Value Inn Suites, also
filed a prior Chapter 11 petition (Bankr. D.N.M. Case No. 11-13489)
on August 1, 2011, and was represented by Bonnie Bassan Gandarilla,
Esq., at Moore, Berkson & Gandarilla, P.C., in Albuquerque, New
Mexico.  At the 2011 filing, the Debtor had estimated assets and
liabilities of $1,000,001 to $10,000,000.


SCRIPSAMERICA INC: UST & Committee Object to Disbandment Motion
---------------------------------------------------------------
BankruptcyData.com reported that the U.S. Trustee assigned to the
ScripsAmerica case and the official committee of unsecured
creditors filed with the U.S. Bankruptcy Court separate objections
to the motion for disbandment of the official committee of
unsecured creditors or, alternatively, removal of Ironridge Global
Partners and Robert Schneiderman from the committee.  The U.S.
Trustee asserts, "The Debtor's motion to disband or remove the
members from the Official Committee of Unsecured Creditors is
without basis.  Bankruptcy courts do not have statutory authority
to disband or dispense with mandatory committees except in one
instance, small business cases.  Beyond that, section 1102(a) does
not authorize a bankruptcy court to disband a committee appointed
under section 1102(a)(1), and section 105(d) is no authority to
contravene the specific and carefully crafted Code provisions
governing the formation, modification, and oversight of official
committees.  There has been no evidence presented that either
Committee member breached any fiduciary duty that they owe to the
unsecured creditors as a whole. Rather, there has only been
speculation that they may do so in the future. Given the body of
unsecured creditors in this case and under the facts and
circumstances here, both creditors are qualified and adequately
representative Committee members. Accordingly, the Committee should
stand as constituted, and the Motion should be denied."

               About ScripsAmerica, Inc.

ScripsAmerica, Inc., filed a Chapter 11 petition (Bankr. D. Del.
Case No. 16-11991) on Sept. 7, 2016.  The petition was signed by
Jeffrey J. Andrews, chief financial officer.

At the time of filing, the Debtor had $600,000 in total assets and
$4.65 million in total debt as of Sept. 6, 2016.

Ciardi Ciardi & Astin has been tapped as bankruptcy counsel, Equity
Partners HG LLC as investment banker, and Bederson LLP as
accountant.

The U.S. Trustee appointed two creditors to the official committee
of unsecured creditors, Ironridge Global Partners, LLC and Robert
Schneiderman.


SG ACQUISITION: S&P Affirms 'B' CCR & Rates Facilities 'B'
----------------------------------------------------------
S&P Global Ratings said it affirmed its 'B' long-term corporate
credit rating on SGA, and its 'B' debt ratings on SGA's first lien
credit facilities, including the $15 million revolver due 2021 and
$210 million term loan due 2021.  The recovery ratings on these
debt issues remain '3', indicating S&P's expectation for meaningful
recovery at the low end of 50%-70% in a default.

"The rating affirmation reflects SGA's generally positive business
performance in 2016," said S&P Global Ratings credit analyst Neal
Freedman.  S&P is revising its business risk profile (BRP)
assessment of SGA to "weak" from "fair" but this has no rating
impact.  The BRP revision places a greater emphasis on SGA's
overall narrow product scope (on tire & wheel and gap coverage
products) and its comparatively modest EBITDA margins versus
insurance services peers.

S&P originally expected SGA's revenues to grow by a mid-single
digit rate (roughly 5%) in 2016.  However, S&P now expects revenues
to increase by 2% in 2016 because of weaker-than-expected auto
sales occurring industry-wide in 2016.  At the same time, the
company is working its way through price actions and underwriting
initiatives that are designed to improve the company's earnings
performance.  S&P believes these actions will help improve the
company's EBITDA margins to 9%-10% in 2016.

SGA's leverage and coverage metrics are relatively strong for the
rating.  S&P forecasts debt-to-EBITDA to improve from 5.3x at
year-end 2015 to 3x-4x by year-end 2016, and EBITDA interest
coverage to improve from 2.4x in 2015 to 3x-4x in 2017.  S&P's
"highly leveraged" financial risk profile (FRP) assessment
considers the company's private equity ownership and assumes that
it will eventually lever up (with leverage above 5x).

SGA has adequate liquidity based on our view that cash sources will
exceed cash uses by at least 1.2 times during the next 12 months.
S&P also expects net sources to be positive, even with a 15%
decline in EBITDA.

The stable outlook reflects S&P's expectation for modest revenue
growth 2% in 2016-2017, driven by an industry-wide slowdown in auto
sales and company-specific pricing actions, offset by good client
satisfaction and retention levels.  S&P expects EBITDA margins to
improve to 9%-10% in 2016 and 11%-12% in 2017 based on improved
underwriting performance and the roll-off of unprofitable
contracts.  S&P expects improved key credit metrics in 2016-2017
based on debt repayment and EBIDTA growth.  S&P expects
debt-to-EBITDA of 3x-4x in 2016 and 2x-3x in 2017, and EBITDA
interest coverage of 3x-4x in 2016 and 4.5x-5.5x in 2017.

S&P would considering lowering the rating during the next 12 months
if SGA were to lose one or more key customers (without offsetting
business), leading to materially lower revenues and EBITDA.  S&P
could also considering lowering the rating if SGA's liquidity were
to become constrained, such that sources were to fall to less than
1.2x of uses, or if its bank covenant cushion were to fall to below
10%.

An upgrade is unlikely during the next 12 months.  However, S&P
would consider an upgrade in the long-term if the company were to
grow and diversify revenues substantially, while improving its
EBITDA margins.  In addition, an upgrade could be driven by a
change in financial policy resulting in sustainable leverage below
4x and EBIDTA coverage above 5x.



SH 130 CONCESSION: Senior Secured Creditors To Get 37% Under Plan
-----------------------------------------------------------------
SH 130 Concession Co., LLC, et al., filed with the U.S. Bankruptcy
Court for the Western District of Texas its first amended
disclosure statement for their first amended joint plan of
reorganization, which provides for, among other things, (i) a
comprehensive restructuring of the Debtors' pre-bankruptcy
financial debt obligations, (ii) payment in full or reinstatement
of unsecured trade creditors' claims, (iii) the cancellation of all
existing equity of SH 130, and (iv) the entry into the Exit
Facility.

Class 4 Senior Secured Claims are impaired and are estimated to
recover 37% under the First Amended Plan.  Each Holder of a Class 4
Claim will receive its Pro Rata share of the following:

   (i) in the event that the lenders providing financing pursuant
to the Exit Facility agree to provide an Exit Facility in excess of
$75 million and the amount of the Exit Facility in excess of $75
million is greater than the aggregate Allowed amount of all
Priority Lender Claims, then from the amount of the Exit Facility
in excess of $75 million that is greater than the aggregate Allowed
amount of all Priority Lender Claims: Cash will be distributed
ratably to the Holders of the Senior Secured Claims in satisfaction
of an equivalent face amount of such Senior Secured Claims; and

  (ii) with respect to the balance of each such Holder's Allowed
Senior Secured Claim, the Holder will receive its Pro Rata share of
the following: (A) Term Debt; (B) 100% of the PIK/Toggle Debt; and
(C) 100% of the Company Units; provided, however, that each such
Holder who is a Senior Lender shall have the right to elect to
receive: (i) the Company Units; (ii) SH1 PIK Notes and SH1 Units in
lieu of its respective distribution of Company Units if such Holder
makes the SH1 PIK Equity Election, or (iii) SH2 PIK Notes and SH2
Units in lieu of its respective distribution of Company Units if
the Holder makes the SH2 PIK Equity Election; provided, further,
that each such Holder who makes the SH1 PIK Equity Election or SH2
PIK Equity Election may also elect to delay the issuance of all or
any portion of the SH1 Units or SH2 Units, as applicable, to which
such Holder would otherwise be entitled to receive, unless and
until such Holder instructs SH1 or SH2, as applicable, in writing,
to issue all or any portion of such deferred SH1 Units or SH2
Units, as applicable (a Deferral Election).

Under the Amended Plan, Class 5, General Unsecured Trade Claims, is
Unimpaired.  Except to the extent that a Holder of an Allowed
General Unsecured Trade Claim agrees to a less favorable treatment
of its Allowed Claim, in full and final satisfaction, settlement,
release, and discharge of and in exchange for each Allowed General
Unsecured Trade Claim, each such Holder will receive, at the option
of the Reorganized Debtors: (i) payment in full in Cash of the
Allowed amount of such Allowed General Unsecured Trade Claim; (ii)
reinstatement of such Allowed General Unsecured Trade Claim; or
(iii) other treatment rendering such Allowed General Unsecured
Trade Claim Unimpaired.

On the Effective Date, the Reorganized SH 130 will enter into the
Exit Facility.  Confirmation of the Plan will be deemed approval of
the Exit Facility  and authorization and direction for the
Reorganized SH 130 to enter into and execute the Exit Facility,
subject to such modifications as they may deem to be reasonably
necessary to consummate its entry into the Exit Facility.

The Exit Facility, together with the Debtors' cash on hand as of
the Effective Date, will be used to pay, on the Effective Date,
Administrative Claims, Professional Compensation Claims, Priority
Tax Claims and the DIP Facility.  In addition, the Exit Facility
will provide sufficient working capital to satisfy all of the
Debtors' obligations, including capital expenditures, transition
and legacy issue related costs, and all required cure costs, as
well as to provide any required "adequate assurance of future
performance."

On the Effective Date, the Reorganized SH 130 will incur the Term
Debt.  Confirmation will be deemed approval of such Term Debt and
authorization and direction for the Reorganized SH 130 to enter
into and execute all instruments, documents and agreements in
connection therewith, subject to such modification as may be
necessary to consummate its entry into the Term Debt.

On the Effective Date, Reorganized SH 130, the Company and the New
Holdcos will each be authorized to and will issue or execute and
deliver, as applicable, in accordance with the Implementation
Memorandum, their respective Reorganized SH 130 Units and New Units
and New LLC Agreements, as applicable, in each case, without
further notice to or order of the Bankruptcy Court, act or action
under applicable law, regulation, order, or rule or the vote,
consent, authorization or approval of any Entity.

A full-text copy of the First Amended Disclosure Statement is
available for free at:

             http://bankrupt.com/misc/txwb16-10262-378.pdf

                    About SH 130 Concession

Headquartered in Buda, Texas, SH 130 Concession Company, LLC (the
"Concessionaire") was formed to finance, develop, design,
construct, operate, and maintain segments five and six of Texas
State Highway 130 in partnership with the Texas Department of
Transportation.

The Concessionaire, Zachry Toll Road - 56 LP and Cintra TX 56 LLC
filed Chapter 11 bankruptcy petitions (Bankr. W.D. Tex. Case Nos.
16-10262, 16-10263 and 16-10264, respectively) on March 2, 2016.
The petitions were signed by Alfonso Orol as chief executive
officer.  The Debtors estimated both assets and debts in the range
of $1 billion to $10 billion.

Toll Road - 56 and TX 56 are holding companies that collectively
hold the equity interests in the Concessionaire.  They have no
operations and have no creditors.

The Debtors have engaged Gibson, Dunn & Crutcher LLP as general
counsel, Jackson Walker L.L.P. as local counsel, and Prime Clerk
LLC as notice, claims, solicitation, balloting and tabulation
agent.

Judge Tony M. Davis has been assigned the case.


SITEONE LANDSCAPE: Moody's Retains B1 CFR on New Loan Add-On
------------------------------------------------------------
Moody's Investors Service said that SiteOne Landscape Supply
Holding, LLC's proposed $25 million add-on to its first lien term
loan does not impact the company's ratings, including its B1
Corporate Family Rating B2 rating on its first lien term loan due
2022, or stable outlook.

SiteOne, headquartered in Roswell, Georgia and formerly known as
John Deere Landscapes, is a national wholesale distributor of
landscaping supplies in the U.S. and Canada.  The company offers
over 100,000 SKUs, including irrigation supplies, landscape
accessories, fertilized and nursery products, hardscapes, and
maintenance supplies through 471 branches.  Its customers include
residential and commercial landscape professionals.  Clayton
Dubilier & Rice and Deere & Company own approximately 69% of
SiteOne.  In the LTM period ending Oct. 2, 2016, the company
generated approximately $1.6 billion in revenues.



SKYLINE MANOR: Dane Starbuck's Appeal Premature, Court Says
-----------------------------------------------------------
Judge Laurie Smith Camp of the United States District Court for the
District of Nebraska denied the motion filed by Dane Starbuck for
leave to appeal the case captioned RON ROSS, Plaintiff, v. JOHN
BARTLE, ROBERT L. RYNARDSR., DANA WADMAN-HUTH, REBECCA BARTLE, DANE
STARBUCK, RYNARD ENTERPRISES, INC., BVM MANAGEMENT, INC., BETHANY
VILLAGE APARTMENTS, INC., BETHANY VILLAGE APARTMENTS - NEW CASTLE,
INC., AMERICARE COMMUNITIES, LLC, AND BVM LAKESHORE, LLC,
Defendants. RON ROSS, chapter 11 Trustee, Plaintiff, v. BARTLE, et
al., Defendants, IN RE: SKYLINE MANOR, INC., Chapter 11 Debtor, No.
8:16CV453, Case No. A16-8024., BK14-80934 (D. Neb.).

Debtor Skyline Manor, Inc. is a non-profit company that generally
provides housing and care for seniors.  On May 6, 2016, Ron Ross,
Chapter 11 Trustee of Skyline Manor, filed a complaint against
Starbuck and other defendants, alleging that the defendants other
than Starbuck breached their fiduciary duties to Skyline Manor by
(i) causing Skyline Manor, Inc., to fail to pay payroll taxes; (ii)
causing Skyline Manor to make payments to entities related to
Defendant John Bartle; (iii) seeking to recover unauthorized
monetary distributions from individual members of the Skyline Manor
board of directors; and (iv) making fraudulent transfers.  The
Trustee also alleged that Starbuck, as general counsel to Skyline
Manor, was negligent in failing to render legal advice regarding
Skyline Manor's need to pay payroll taxes, and failing to render
legal advice regarding various monetary transfers to the
Bartle-related entities and the individual board of directors.

On July 7, 2016, Starbuck timely filed a motion to dismiss the
adversarial proceeding pursuant to Fed. R. Civ. P. 12(b)(6).  On
September 6, 2016, after a hearing on the matter, the Bankruptcy
Court denied Starbuck's motion to dismiss, and gave leave to the
Trustee to amend the complaint in the adversarial proceeding to
clarify certain issues.  Several days before the deadline for the
Trustee's amended complaint, Starbuck filed a Notice of Appeal and
Motion for Leave to Appeal the Bankruptcy Court's denial of
Starbuck's motion to dismiss.  The Trustee has since filed his
amended complaint.

Starbuck did not dispute that the order he sought to challenge on
appeal is not a final order of the bankruptcy court.  Judge Camp
concluded that consideration of the appeal is premature because (1)
the Trustee filed an amended complaint meant to address Starbuck's
concerns over the original complaint, and (2) Starbuck failed to
demonstrate that an interlocutory appeal will advance the ultimate
determination of the litigation.

A full-text copy of Judge Camp's November 7, 2016 memorandum and
order is available at https://is.gd/XSWamt from Leagle.com.

Ron Ross is represented by:

          Brandon R. Tomjack, Esq.
          Nicholas A. Buda, Esq.
          T. Randall Wright, Esq.
          BAIRD, HOLM LAW FIRM
          1700 Farnam Street, Suite 1500
          Omaha, NE 68102-2068
          Tel: (402)344-0500
          Fax: (402)344-0588
          Email: btomjack@bairdholm.com
                 nbuda@bairdholm.com
                 rwright@bairdholm.com

Official Committe of Unsecured Creditors is represented by:

          Francis J. Lawall, Esq.
          PEPPER, HAMILTON LAW FIRM
          3000 Two Logan Square
          Eighteenth and Arch Streets
          Philadelphia, PA 19103-2799
          Tel: (215)981-4000
          Fax: (215)981-4750
          Email: lawallf@pepperlaw.com

John Bartle, Robert L. Rynard, Sr., Rebecca Bartle, Rynard
Enterprises, Inc., BVM Management, Inc., Bethany Village
Apartments, Inc., Bethany Village Apartments - New Castle, Inc.,
Americare Communities, LLC, BVM Lakeshore, LLC are represented by:

          Howard T. Duncan, Esq.
          DUNCAN LAW OFFICE
          1266 South 13th Street
          Omaha, NE 68108
          Tel: (402)934-4221
          Fax: (402)391-0088

Dane Starbuck is represented by:

          Curtis J. Butcher, Esq.
          LAW OFFICES OF CURTIS J. BUTCHER & ASSOCIATES
          8 W Main St
          Carmel, IN 46032-1764
          Tel: (317)218-9641

            -- and --

          Kathryn J. Derr, Esq.
          BERKSHIRE, BURMEISTER LAW FIRM
          1301 South 75th St. Suite 100
          Omaha, NE 68124
          Tel: (402)827-7000
          Fax: (402)827-7001
          Email: kderr@berkshire-law.com

Skyline Manor, Inc. is represented by:

          Patrick R. Turner, Esq.
          Robert V. Ginn, Esq.
          STINSON, LEONARD LAW FIRM
          1299 Farnam Street, Suite 1500
          Omaha, NE 68102
          Tel: (402)342-1700
          Fax: (402)930-1701
          Email: patrick.turner@stinson.com                

            -- and --

          T. Randall Wright, Esq.
          BAIRD, HOLM LAW FIRM
          1700 Farnam Street, Suite 1500
          Omaha, NE 68102-2068
          Tel: (402)344-0500
          Fax: (402)344-0588
          Email: rwright@bairdholm.com

U.S. Trustee, Trustee, is represented by:

          Jerry L. Jensen, Esq.
          Patricia M. Fahey, Esq.
          OFFICE OF THE UNITED STATES TRUSTEE
          111 South 18th Plaza, Suite 1148
          Omaha, NE 68102
          Tel: (402)221-4300
          Fax: (402)221-4383

                        About Skyline Manor

Skyline Manor Inc. is a Nebraska non-profit corporation that
operates a 199-unit continuing care retirement community and a 140
unit independent living facility in Omaha.  Skyline Manor filed a
Chapter 11 bankruptcy petition (Bankr. D. Neb. Case No. 14-80934)
on May 8, 2014.  The petition was signed by John W. Bartle as
chief restructuring officer.  Judge Thomas L. Saladino presides
over the case.

The Debtor disclosed $19.9 million in assets and $13.7 million in
liabilities as of the Chapter 11 filing.

Mr. Ross has been appointed as the Chapter 11 trustee for Skyline
Manor.


SPD LLC: U.S. Trustee Unable to Appoint Committee
-------------------------------------------------
An official committee of unsecured creditors has not yet been
appointed in the Chapter 11 case of SPD, LLC aka SPD NEXT, LLC, as
of Nov. 22, according to a court docket.

SPD, LLC aka SPD NEXT, LLC, filed a Chapter 11 bankruptcy petition
(Bankr. C.D. Ill Case No. 16-81454) on Oct. 11, 2016.  Hon. Thomas
L. Perkins presides over the case.  Porter Law Network 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 Fulton L.
Bouldin, manager and sole member.


SPECTRUM BRANDS: Moody's Affirms B1 CFR & Changes Outlook to Dev.
-----------------------------------------------------------------
Moody's Investors Service affirmed the ratings of Spectrum Brands,
Inc., including the B1 Corporate Family Rating, and changed the
outlook to developing from positive.  This follows the announcement
last week that HRG Group, its majority shareholder, is evaluating
strategic alternatives for HRG.  HRG Group is in process of selling
other assets that it owns, which will soon leave Spectrum as HRG's
only investment.

Ratings affirmed:

Spectrum Brands, Inc.
  Corporate Family Rating at B1;
  Probability of Default Rating at B1-PD;
  Senior unsecured notes at B2 (LGD 5);
  Senior secured credit facility at Ba1 (LGD 2);
  Speculative grade liquidity rating at SGL-1

                          RATING RATIONALE

The change to a developing outlook reflects uncertainties as to the
exact course of action that HRG will take with regard to Spectrum.
The different avenues that HRG could consider include selling the
Spectrum business to the public, or to a strategic or financial
buyer.  HRG could also elect not to sell its investment in Spectrum
Brands.  The ultimate decision, and hence Spectrum's ultimate
capital structure, will not be known for some time.

The B1 Corporate Family Rating reflects Spectrum's significant size
with revenue around $5.0 billion, but also the aggressive financial
policies of its largest shareholder.  Debt/EBITDA is currently near
4.5 times, but Moody's expects it to approach 3.5 times in the next
12 -18 months (absent a change resulting from HRG's strategic
review).  Ratings benefit from Spectrum's good product
diversification with products ranging from personal care items, to
pet supplies and household insect control, small appliances,
residential locksets and automotive care.  The rating is
constrained by Spectrum's competition with bigger and better
capitalized companies along with the shareholder oriented
propensity of its largest shareholder, HRG Group.  The rating also
reflects the company's general stability in operating performance
and Moody's expectation that credit metrics will continue improving
in the near to mid-term, despite modest top line organic growth,
soft spending for low income consumers and continued macro-economic
uncertainty.  Spectrum's strong liquidity profile as well as its
broad international penetration are important rating factors,
although there is concentration in Europe, where there is low
growth.

A severe disruption in discretionary consumer spending could result
in a downgrade.  Key credit metrics which could result in a
downgrade include debt/EBITDA sustained over 5.5 times or single
digit EBIT margins.  Ratings could also be downgraded if Spectrum
is acquired and financed in a manner that significantly increases
leverage.

Key credit metrics necessary for an upgrade would be debt/EBITDA
sustained below 4 times and EBIT margins maintained in the
mid-teens.  Moody's would need to obtain greater clarity regarding
the strategic alternatives being considered by HRG Group before
considering an upgrade.

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

Headquartered in Middleton, Wisconsin, Spectrum Brands, Inc. is a
global consumer product company with a diverse product portfolio
including small appliances, consumer batteries, lawn and garden,
electric shaving and grooming, pet supplies and household insect
control, residential locksets and automotive care.  Revenues for
the twelve months ended September 2016 approximated $5.0 billion.
HRG Group, Inc. owns almost 60% of Spectrum Brands.



ST. JUDE NURSING: No More Foul Odors, PCO 5th Report Says
---------------------------------------------------------
Deborah L. Fish, the Patient Care Ombudsman for St. Jude Nursing
Center, Inc., has filed a Fifth Report before the U.S. Bankruptcy
Court for the Eastern District of Michigan for the period of
September 19, 2016 to November 16, 2016.

The PCO noted that the Debtor has continued the same quality of
care post-petition as it did as of the date of the petition.

The PCO reported that none of the residents had concerns about
their care. The three residents previously reported personal issues
which were followed up by the administrator.  The PCO said she did
receive a call during the reporting period from one of the
residents and directed her to her family and guardian as it was a
personal issue and not a care issue.

Moreover,the PCO observed that the cleanliness was satisfactory.
The previous foul order reported was immediately remedied by Mr.
Brad Mali, the one who handles and manages the Debtor's day-to-day
operations, and there were no foul odors present during the PCO's
follow-up visits.

                About St. Jude Nursing

St. Jude Nursing Center, Inc., filed for Chapter 11 bankruptcy
protection (Bankr. E.D. Mich. Case No. 16-42116) on Feb. 18, 2016.
Hon. Thomas J. Tucker presides over the cases.

The Debtor is a privately owned and licensed long-term skilled
nursing facility located at 34350 Ann Arbor Trail, Livonia,
Michigan 48150.  It consists of 64 licensed beds, located within
the Debtor-owned facility.  The current census ranges between 55
and 56 residents.  The majority of the residents are long term.

The Debtor continues to employ nearly 84 full and part-time
employees.  The Debtor's facility continues to offer services such
as skilled nursing care, hospice care, Alzheimer's and dementia
patient care, physical rehabilitation, tracheal and enteral
services, wound care, and short-term respite care.


STEPHEN HO LEE: Disclosure Statement Denied
-------------------------------------------
Judge Wendelin I. Lipp of the U.S. Bankruptcy Court for the
District of Maryland, for reasons stated at a hearing, issued an
order denying approval of the Second Amended Disclosure Statement
filed by Stephen Ho Lee and Eun Soo Lee.  The Debtors are directed
to file an amended Disclosure Statement by Dec. 15, 2016.

The Debtors' Second Amended Disclosure Statement, a full-text copy
of which is available at:

          http://bankrupt.com/misc/15-21473-63.pdf  

proposes that the Debtors will continue to seek modification of
its
mortgage with U.S. Bank through the Plan Effective Date.

If the mortgage modification is unsuccessful, the Debtors will
cure
the mortgage arrearage as follows:

   -- USB has added $107,620.50 of the arrearage to the principal
balance of the mortgage loan.  The Debtors will cure the remaining
arrearage, $394,223.54, by making a single payment of $120,000.00
on the Effective Date and thereafter amortizing the remaining
arrearage using a hypothetical 30-year amortization at an interest
rate of 3.0% per annum, with monthly payments beginning on the
Effective Date. The Debtors will conclude payments by making a
balloon payment of remaining principal and interest no more than
five years after the Effective Date. The Debtors anticipate that
they shall provide such payment by refinancing the entire USB
mortgage claim at or prior to the conclusion of the five year
period.

   -- In addition to curing the arrearage due to USB, the Debtors
will pay a compromise balance of $15,000.00 on their second
mortgage in favor of Educational Systems Federal Credit Union on
the Effective Date.

   -- The Debtors will also make quarterly distributions to
holders
of Allowed Unsecured Claims for eight Calendar Quarters after the
Effective Date, paying all allowed Unsecured Claims in full.

Thus, the Plan provides that the Debtors will distribute
approximately $148,000.00 in available cash on the Effective Date,
and thereafter will distribute an additional approximate amount of
$348,000.00 over the remaining term of the Plan.

Stephen Ho Lee and Eun Soo Lee, owners of an accounting business,
filed a Chapter 11 Petition (Bankr. D. Md. Case No. 15-21473) on
August 18, 2015, and are represented by Augustus T. Curtis, Esq.,
at Cohen, Baldinger & Greenfeld, LLC, in Rockville, Maryland.


SUNEDISON INC: Plan Filing Deadline Extended Until January 26
-------------------------------------------------------------
Judge Stuart M. Bernstein of the U.S. Bankruptcy Court for the
Southern District of New York extended the exclusive periods within
which only SunEdison, Inc., and its debtor-affiliates may file and
solicit acceptances of a chapter 11 plan, through and including
January 26, 2017 and March 27, 2017, respectively.

The Troubled Company Reporter reported on Oct. 28, 2016 that the
Debtors asked Judge Bernstein to extend the exclusive period to
file a chapter 11 plan for each of the Debtors through and
including Feb. 15, 2017, and the exclusive period to solicit
acceptances of a chapter 11 plan for each of the Debtors through
and including April 17, 2017.

John S. Dubel, the Debtors' Chief Executive Officer and Chief
Restructuring Officer, told the Court the Debtors have worked
diligently the last six months -- reaping approximately $609.1
million in proceeds from numerous sales -- and will continue to do
so for the remainder of the cases while working to emerge from
chapter 11 as expeditiously as possible.

The Debtors, with the assistance of Rothschild, their investment
banker, had continued to canvass the market and consummated
numerous de minimis asset sales and Bankruptcy Code section 363
sales.  The Debtors had executed confidentiality agreements with,
and granted data-room access to, more than 300 parties; the Debtors
had received bids to purchase assets from more than 100 parties;
and notably, the Debtors had entered into definitive asset purchase
agreements for various Projects and, in many cases, had closed
certain of these transactions, since the Petition Date providing
hundreds of millions of dollars in estimated gross proceed (which
may be subject to certain purchase price reductions), including,
but not limited to the sale of the Debtors':

     -- North American Utility Business Unit for $144 million;

     -- Various California, Northeast, Minnesota, and New York
Commercial and Industrial Projects for $149 million;

     -- Residential and Small Commercial Business Unit for $8.7
million;

     -- SUNE Troughton Farm Solar Limited for $30.4 million;

     -- Mount Signal 2 and 3 for $104 million;

     -- Sunflower Project for $23 million; and

     -- Solar Materials Business for $150 million.

The Debtors had also continued to discuss with the TerraForm Power,
Inc. and TerraForm Global, Inc. -- Yieldcos -- the intercompany
disputes between the Yieldcos and the Debtors in the context of the
Debtors' overall chapter 11 efforts, and those discussions are
still ongoing.  They also have responded to, and in certain cases,
resolved numerous requests for relief from the automatic stay,
including but not limited to, Vivint Solar, Inc.'s request to lift
the automatic stay to liquidate its alleged prepetition claims, and
responded to numerous document and information requests by the
Official Committee of Unsecured Creditors and produced tens of
thousands of pages of documents.  They also have opposed requests
for appointment of an official committee of equity security
holders, which ultimately resulted in such requests being denied.

The Debtors had also begun the claims review process after
establishing September 23, 2016, as the general bar date and
October 18, 2016 as the governmental bar date.

The Debtors related that on October 20, 2016, the Committee filed a
complaint seeking, among other things, to (a) challenge the
validity of the secured liens held by the Prepetition First Lien
Lenders and the Prepetition Second Lien Lenders, (b) avoid certain
transfers made prior to the Petition Date to the Prepetition First
Lien Lenders and the Prepetition Second Lien Lenders, and (c)
disallow approximately $200 million of allegedly unamortized
"original issue discount" arising from the transfers that are the
subject of the Lien Challenge Complaint.  The Committee is also
investigating potential estate claims against the Yieldcos.

Mr. Dubel said, "To allow the Exclusive Periods to expire at this
point would jeopardize the work that the Debtors have accomplished
to date and the consensus-building that is the hallmark of these
cases and precisely what exclusivity is designed to achieve. An
extension of the Exclusive Periods will allow the Debtors to
maintain a controlled environment in which they can: (i) negotiate
a resolution of the issues raised in the Lien Challenge Complaint,
(ii) determine whether a value-maximizing resolution of the issues
related to the Yieldcos is possible, or whether they will determine
to litigate causes of action, and (iii) identify the best path
forward in maximizing the value of their interest in the Yieldcos
-- each of which will help provide the value-maximizing building
blocks for a viable chapter 11 plan."

                                  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.

SunEdison also has tapped Eversheds LLP as its special counsel for
Great Britain and the Middle East.  Cohen & Gresser LLP has also
been retained as special counsel.

The Debtors retained Ernst &Young LLP to provide tax-related
services.  Keen-Summit Capital Partners LLC has been hired as real
estate advisor.  Binswanger of Texas, Inc., also has been retained
as real estate agent.

Sullivan & Cromwell LLP serves as counsel to TerraForm Power, Inc.,
and TerraForm Global, Inc.

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.  Togut, Segal & Segal LLP and Kobre & Kim LLP serve as
conflicts counsel.  Alvarez & Marsal North America, LLC, serves as
the Committee's financial advisors.

Counsel to the administrative agent under the Debtors' prepetition
first lien credit agreement are Richard Levy, Esq., and Brad
Kotler, Esq., at Latham & Watkins.

Counsel to the administrative agent under the postpetition DIP
financing facility are Scott Greissman, Esq., and Elizabeth Feld,
Esq. at White & Case LLP.

Counsel to the Tranche B Lenders (as defined in the DIP credit
agreement) and the steering committee of the second lien creditors
are Arik Preis, Esq., and Naomi Moss, Esq., at Akin Gump Strauss
Hauer & Field, LLP.

Counsel to the administrative agent under the Debtors' prepetition
second lien credit agreement is Daniel S. Brown, Esq., at Pillsbury
Winthrop Shaw Pittman LLP.

The collateral trustee under the Debtors' prepetition second lien
credit agreement and the indenture trustee under each of the
Debtors' outstanding bond issuances, is represented by Marie C.
Pollio, Esq., at Shipman & Goodwin LLP.

Counsel to the ad hoc group of certain holders of the Debtors'
convertible senior notes is White & Case LLP's Tom Lauria, Esq.


TAYLOR BEAN: Can Clawback $1.59MM Payments to Chisholm Properties
-----------------------------------------------------------------
Judge Jerry A. Funk of the United States Bankruptcy Court for the
Middle District of Florida, Jacksonville Division, avoided the
payments made by Taylor Bean & Whitaker Mortgage Corporation to
Chisholm Properties of Atlanta, LLC, prior to the petition date.
The judge concluded that these payments constitute fraudulent
tranfers and can be recovered from Chisholm.

On August 23, 2011, Neil Luria, in his capacity as Trustee for the
Taylor Bean & Whitaker Plan Trust, caused the Complaint to Avoid
Fraudulent Transfers and to Recover Property Transferred Pursuant
to 11 U.S.C. section 550 initiating this adversary proceeding.

The complaint sought a judgment in the total amount of
$1,590,599.38 based upon actual and constructive fraudulent
transfer claims under Federal and Florida law.  The complaint also
sought an order disallowing any claims Chisholm has or may have
against TBW pursuant to 11 U.S.C. section 502(d).  The fraudulent
transfer claims arose from the payments made by TBW to Chisholm
prior to the petition date, totaling $1,590,599.38, which were set
forth on Exhibit "A" to the complaint.

As to the actual fraud claims under Section 548(a)(1)(A) of the
Bankruptcy Code and Section 726.105(1)(a) of the Florida Statutes,
Judge Funk found that TBW made the transfers to Chisholm with the
actual intent to hinder, delay or defraud at least one entity to
which TBW was, or after the transfers became, indebted and which
was harmed by the transfers and could have avoided them under
applicable law.

As to the constructive fraud claims under Section 548(a)(1)(B) of
the Bankruptcy Code and Sections 726.105(1)(b) and 726.106(1) of
the Florida Statutes, Judge Funk found that at the times of the
transfers the fair value of TBW's assets was much less than the
total amount of the debts it owed, as set forth in detail in the
various reports filed in the bankruptcy case and in the Second
Amended and Restated Disclosure Statement filed by TBW in its
Chapter 11 Bankruptcy Case.  Accordingly, the judge concluded that
TBW was insolvent at the time the transfers were made or became
insolvent as a result of the transfers.

Judge Funk said that the Trustee can recover the transfers, or
their value ($1,590,599.38), from Chisholm pursuant to 11 U.S.C.
section 550(a)(1) because Chisholm is the initial transferee of the
transfers or the entity for whose benefit the transfers was made.

The bankruptcy case is In re: TAYLOR, BEAN & WHITAKER MORTGAGE
CORP., et al., Chapter 11, Debtors, Case Nos. 3:09-bk-07047-JAF,
3:09-bk-10022-JAF, 3:09-bk-10023-JAF, Jointly Administered Under
Case No. 3:09-bk-07047-JAF (Bankr. M.D. Fla.).

The adversary proceeding is NEIL F. LURIA, as Trustee to the
TAYLOR, BEAN & WHITAKER PLAN TRUST, Plaintiff, v. CHISHOLM
PROPERTIES OF ATLANTA, LLC, Defendant, Adv. Pro. No.
3:11-ap-00689-JAF (Bankr. M.D. Fla.).

A full-text copy of Judge Funk's November 1, 2016 findings of fact
and conclusions of law is available at https://is.gd/thq6Ok from
Leagle.com.

Taylor, Bean & Whitaker Mortgage Corp. is represented by:

          Edward J. Peterson, III, Esq.
          Amy Denton Harris, Esq.
          Russell M. Blain, Esq.
          STICHTER, RIEDEL, BLAIN & POSTLER, P.A.
          110 East Madison Street, Suite 200
          Tampa, FL 33602-4700
          Tel: (813)229-0144
          Fax: (813)229-1811
          Email: epeterson@srbp.com
                 aharris@srbp.com
                 rblain@srbp.com

            -- and --

          Jeffrey W. Kelley, Esq.
          TROUTMAN SANDERS LLP
          600 Peachtree Street, NE Suite 5200
          Atlanta, GA 30308
          Tel: (404)885-3000
          Fax: (404)885-3900
          Email: jeffrey.kelley@troutmansanders.com

            -- and --

          James D. Gassenheimer, Esq.
          BERGER SINGERMAN. P.A.
          1450 Brickell Avenue, Suite 1900
          Miami, FL 33131
          Tel: (305)755-9500
          Fax: (305)714-4340
          Email: jgassenheimer@bergersingerman.com

            -- and --

          Daniel C. Consuegra, Esq.
          9204 King Palm Drive #100
          Tampa, FL 33619
          Tel: (813)915-8660

Taylor, Bean & Whitaker Plan Trust, Liquidating Trustee, is
represented by:

          Michael J. Hooi, Esq.
          STICHTER, RIEDEL, BLAIN & POSTLER, P.A.
          110 East Madison Street, Suite 200
          Tampa, FL 33602-4700
          Tel: (813)229-0144
          Fax: (813)229-1811
          Email: mhooi@srbp.com

Neil F. Luria, Trustee, is represented by:

          Paul Steven Singerman, Esq.
          BERGER SINGERMAN, PA
          1450 Brickell Avenue, Suite 1900
          Miami, FL 33131
          Tel: (305)755-9500
          Fax: (305)714-4340
          Email: singerman@bergersingerman.com

          Debi Evans Galler, Esq.
          BERGER SINGERMAN, PA
          313 North Monroe Street, Suite 301
          Tallahassee, FL 32301
          Tel: (850)561-3010
          Fax: (850)561-3013
          Email: dgaller@bergersingerman.com

United States Trustee - JAX 11, 11, U.S. Trustee, is represented
by:

          Elena L. Escamilla, Esq.
          OFFICE OF THE UNITED STATES TRUSTEE
          George C. Young Federal Building
          400 West Washington Street, Suite 1100
          Orlando, FL 32801
          Tel: (407)648-6301
          Fax: (407)648-6323

                      About Taylor Bean

Taylor, Bean & Whitaker Mortgage Corp. grew from a small Ocala-
based mortgage broker to become one of the largest mortgage
bankers in the United States.  In 2009, Taylor Bean was the
country's third largest direct-endorsement lender of FHA-insured
loans of the largest wholesale mortgage lenders and issuer of
mortgage backed securities.  It also managed a combined mortgage
servicing portfolio of approximately $80 billion.  The company
employed more than 2,000 people in offices located throughout the
United States.

Taylor Bean sought Chapter 11 protection (Bankr. M.D. Fla. Case
No. 09-07047) on Aug. 24, 2009.  Taylor Bean filed the Chapter 11
petition three weeks after federal investigators searched its
offices.  The day following the search, the Federal Housing
Administration, Ginnie Mae and Freddie Mac prohibited the company
from issuing new mortgages and terminated servicing rights.
Taylor Bean estimated more than $1 billion in both assets and
liabilities in its bankruptcy petition.

Lee Farkas, the former chairman, was sentenced in June to 30 years
in federal prison after being convicted on 14 counts of conspiracy
and bank, wire and securities fraud in what prosecutors said was a
$3 billion scheme involving fake mortgage assets.

Jeffrey W. Kelly, Esq., and J. David Dantzler, Jr., Esq., at
Troutman Sanders LLP, in Atlanta, Ga., and Russel M. Blain, Esq.,
and Edward J. Peterson, III, Esq., at Stichter, Riedel, Blain &
Prosser, PA, in Tampa, Fla., represent the Debtors.  Paul Steven
Singerman, Esq., and Arthur J. Spector, Esq., at Berger Singerman
PA, in Miami, Fla., represent the Committee.  BMC Group, Inc.,
serves as the claims and noticing agent.

Unsecured creditors were expected to receive 3.3% to 4.4% under a
Chapter 11 plan approved in July 2011.  


TMX FINANCE: S&P Lowers ICR to 'B-' on Weak Financial Performance
-----------------------------------------------------------------
S&P Global Ratings Services said it lowered its issuer credit
rating on TMX Finance LLC to 'B-' from 'B'.  The outlook is
negative.

At the same time, S&P lowered the issue ratings on TMX's 8.5%
senior notes due 2018 to 'B-' from 'B'.  The recovery rating on the
notes remains '4'.  The '4' recovery rating reflects S&P's
expectation for average recovery in our simulated default scenario,
but S&P revised downward its recovery expectations to the low end
of the 30%-50% range.

"The one-notch downgrade reflects ongoing weak financial
performance as reflected by the company's steep decline in loan
originations and EBITDA coupled with ongoing regulatory and
heightened litigation risks," said S&P Global Ratings credit
analyst Gaurav Parikh.  S&P expects leverage to remain between 4.0x
and 5.0x and EBITDA coverage to remain above 2.0x for the next 12
months.

For nine months ending September 2016, the firm reported adjusted
EBITDA of $96.3 million compared to adjusted EBITDA of
$162.7 million for the prior year nine-month period ending
September 2015.  Revenues after provision for loan losses declined
by 15%, or $85.8 million, to $484.7 million due to lower loan
originations, while operating expenses were roughly flat as
regulatory and litigation charges grew.  Loan originations declined
by 16% to $703.4 million while annualized net charge-offs as a
percent of average combined loans receivables increased by 2.4% to
32.0%.

As required by a consent order issued by the Consumer Financial
Protection Bureau (CFPB) in September 2016, TMX paid a
$9.0 million civil penalty to the CFPB civil money penalty fund on
various aspects of the company's business operations. Additionally,
the company also has an ongoing litigation case with Nevada Federal
Institutions Divisions.  The case involves subsidiary TM Nevada's
use of grace period payment deferment agreements (GPPDAs) in Nevada
after Dec. 18, 2014, and the Administrative Law Judge (ALJ)
requires TM Nevada to repay all principal and interest collected
under every loan made after
Dec. 18, 2014, where the customer entered into a GPPDA.

TMX plans to comply with the ALJ order by posting a bond or cash
equivalent of $550,000.  However, Nevada Financial Institutions
Division (FID) did its own analysis of the potential liability
under the ALJ Order and requested that TM Nevada post a bond in the
amount of $32.0 million to $39.0 million.  At this point, TMX
cannot verify the accuracy of the liability, and the actual amount
could exceed or be lower than the amounts presented by the FID.  If
the District Court agrees with the FID's interpretation of the
statute and finds that TM Nevada willfully violated it, then the
liability could have a significant impact on the firm's
profitability.

S&P's negative outlook on TMX reflects its deteriorating financial
performance, the pending litigation charges, and S&P's expectations
that the CFPB regulations will result in lower originations, high
loan losses, higher collection expenses, and increased compliance
costs.  S&P expects leverage to remain between 4.0x-5.0x over the
next 12 months and that net charge-offs as a percentage of average
receivables will remain below 40%.

S&P could lower its rating over the next 12 months to the 'CCC'
range if S&P expects the company to have difficulty refinancing its
senior notes or if S&P expects the litigation risks and new
regulations to further weaken TMX's operating performance such that
it materially affects its credit ratios.  S&P could also lower the
issuer rating to selective default ('SD') and debt rating to
default ('D'), if the company receives an additional buyback
authorization and continues to aggressively buy back its debt at
distressed levels, which would be tantamount to a default under
S&P's criteria.

An upgrade is unlikely over the next 12 months.  However, S&P could
revise the outlook to stable if the pending litigation risk and
CFPB regulations are less stringent than expected and if S&P
believes that leverage will remain between 4.0x- 5.0x as the
company adjusts its product offerings to align with new rules.



TRANSTAR HOLDING: To Operate as Usual While in Chapter 11
---------------------------------------------------------
Transtar Holding Company, a distributor and manufacturer of
aftermarket automotive products, on Nov. 21, 2016, disclosed that
it has entered into a Restructuring Support Agreement ("RSA")
outlining the terms of a balance sheet restructuring that will
strengthen the Company's financial position by reducing long-term
debt and enhancing liquidity.  The key terms of the RSA include a
debt reduction of approximately $290 million and approximately $74
million in new money financing.  The RSA is supported by holders
owning more than 98.8% of the Company's first lien debt and the
Company's equity sponsor.  Following the restructuring, current
holders of first lien debt will be the new equity owners of the
Company.

To facilitate these important changes to Transtar's capital
structure, on Nov. 20 Transtar commenced a Chapter 11 proceeding in
the U.S. Bankruptcy Court for the Southern District of New York to
implement a "pre-packaged" plan of reorganization through a brief,
court-supervised restructuring process.

"Transtar will operate as usual, and our team remains committed to
continuing to provide responsive service to our customers.  It will
be business as usual for us," said Edward H. Orzetti, CEO of
Transtar Holding Company.  "The actions we are announcing today
represent an important and positive step forward in our efforts to
strengthen Transtar's financial position.  We will emerge from this
restructuring as a stronger company with a more flexible capital
structure.  This will enable us to pursue our strategic growth
plans as we make continued progress in enhancing our operations."

Willkie Farr & Gallagher LLP is serving as legal counsel, Ducera
Partners is serving as investment banker and FTI Consulting, Inc.
is serving as restructuring advisor to Transtar.

                      About Transtar Holding

Headquartered in Cleveland, Ohio, Transtar Holding, et al.'s
primary business is to manufacture, remanufacture and distribute
aftermarket driveline replacement parts and components to the
transmission repair and remanufacturing market.  The Debtors are
also growing suppliers of autobody refinishing products such as
clear coats, paints, and primers and are manufacturer of air
conditioning, cooling and power steering assemblies and
components.

Founded in 1975, the Debtors maintain over 70 local branch
locations, four manufacturing and production facilities (in Alma,
Michigan; Brighton, Michigan; Cookeville, Tennessee; and Ferris,
Texas), and four regional distribution centers throughout the
United States, Canada and Puerto Rico.

On Dec. 21, 2010, the Company was acquired from Linsalata Capital
Partners by current majority equity holder Friedman Fleischer &
Lowe LLC.  The acquisition was financed with $425 million of senior
secured credit facilities.

As of the Petition Date, the Debtors employ approximately 2,000
full-time and 50 part-time employees in the United States, and
approximately 100 full-time employees in Canada and Puerto Rico.

The Debtors have hired Willkie Farr & Gallager LLP as counsel, FTI
Consulting, Inc. as restructuring and financial advisors, Ducera
Partners LLC as financial advisors and investment banker and Prime
Clerk LLC as claims, noticing and solicitation agent.


TRINITY RIVER: Seeks January 31 Plan Exclusivity Extension
----------------------------------------------------------
Trinity River Resources, LP, asks the U.S. Bankruptcy Court for the
Western District of Texas to further extend the exclusive periods
within which the Debtor has the exclusive right to file and solicit
a plan of reorganization, through and including Jan. 31, 2017 and
April 3, 2017, respectively.

The Debtor seeks this extension so that it can have adequate time
to devote resources to pursuing a sale of its assets and developing
a plan of reorganization that will benefit all creditors and
interest holders.

The Debtor relates that its independent manager, John T. Young, Jr.
of Conway MacKenzie has spent the last two months, since its
appointment on Sept. 1, 2016, reviewing the Debtor's affairs and
restructuring alternatives, including a potential sale of the
Debtor's assets.

In addition, the Debtor's independent manager is still seeking to
address certain unresolved contingencies existing in the Debtor's
Chapter 11 case, specifically, (a) the disclosure of proprietary
seismic data and interpretations as part of any sale of assets; (b)
the assignment, or partial assignments, of acreage on which the
Debtor has made only partial payments of the leasehold acquisition
costs; (c) determination of the transfer of operatorship of the
assets under the applicable contracts and joint operating
agreements; and (d) the Adversary Proceeding No. 16-01074 filed by
Anadarko E&P Onshore LLC.

                              About Trinity River Resources

Trinity River Resources, LP, filed a Chapter 11 bankruptcy petition
(Bankr. W.D. Tex. Case No. 16-10472) on April 21, 2016.  The
petition was signed by Matthew J. Telfer as manager of Trinity
River Resources, GP, LLC.  Judge Tony M. Davis is assigned to the
case.  The Debtor estimated assets in the range of $50 million to
$100 million and liabilities of up to $500 million.  

The Debtor has hired Bracewell LLP as counsel.  The Debtor has
employed John T. Young, Jr., a Senior Managing Director with Conway
MacKenzie, as the its independent manager; and has also retained
Conway MacKenzie as its financial advisor.  The Debtor has employed
T2 Land Resources, as ordinary course professionals.


ULTRA PETROLEUM: Enters Into Plan Support Agreement
---------------------------------------------------
Ultra Petroleum Corp. ("UPL") on Nov. 22, 2016, disclosed that it
has entered into a Plan Support Agreement dated November 21, 2016
(the "PSA") and a Backstop Commitment Agreement dated November 21,
2016 (the "Backstop Agreement") with (i) holders of a substantial
majority of the principal amount of its outstanding 5.750% Senior
Notes due 2018 and 6.125% Senior Notes due 2024 and (ii)
shareholders who own at least a majority of its outstanding common
stock or the economic interests therein (collectively, the
"Commitment Parties").

As previously reported, on April 29, 2016, UPL and each of its
subsidiaries (collectively, the "Ultra Entities") filed voluntary
petitions seeking in-court reorganization under chapter 11 of the
U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern
District of Texas (collectively, the "Reorganization Proceedings").
The PSA sets forth the terms and conditions pursuant to which the
Ultra Entities and the Commitment Parties have agreed to seek and
support a joint plan of reorganization at an aggregate plan value
of $6.25 billion, $6.0 billion, or $5.5 billion, depending on
commodity prices, for the Ultra Entities which will successfully
complete the Reorganization Proceedings (collectively, the "Plan").
The Backstop Agreement sets forth the terms and conditions under
which the Commitment Parties have agreed to fund a $580.0 million
offering of rights to purchase shares of common stock in
reorganized UPL in connection with the Plan (the "Rights
Offering").  Under the Plan, the total enterprise value of the
Ultra Entities will be $6.0 billion (the "Plan Value"); provided,
that if the average closing price of the 12-month forward Henry Hub
natural gas strip price during the seven (7) trading days preceding
the commencement of the Rights Offering solicitation is: (i)
greater than $3.65/MMBtu, the Plan Value will be $6.25 billion; or
(ii) less than $3.25/MMBtu, the Plan Value will be $5.5 billion.

Among other matters, the Plan provides for a comprehensive
restructuring of all allowable claims against and interests in the
Ultra Entities, including the conversion of the outstanding
unsecured senior notes issued by UPL to newly-issued shares of
common stock in UPL, the exchange of the outstanding unsecured
senior notes issued by UPL's subsidiary Ultra Resources, Inc.
("Ultra Resources") for new unsecured notes issued by Ultra
Resources and cash, and the payment in full of all other allowed
claims against the Ultra Entities in cash.

Mr. Michael Watford, Chairman, President and Chief Executive
Officer of the Company, said, "These agreements reflect our
commitment to maximizing the value of our estates for the benefit
of all our stakeholders.  Even before we began our in-court
reorganization, we have been steadfastly dedicated to preserving
significant value for our shareholders, and entering into these
agreements represents the next step in pursuit of that objective."
He continued, "We are very appreciative of the cooperation we
received from our stakeholders and their recognition of the
substantial value represented by our assets and hard-working
employees and contractors."

                     About Ultra Petroleum

Houston, Texas-based Ultra Petroleum Corp. (OTC Pink Marketplace:
"UPLMQ") is an independent oil and gas company engaged in the
development, production, operation, exploration and acquisition of
oil and natural gas properties.

On April 29, 2016, Ultra Petroleum Corp. and seven subsidiary
companies filed petitions (Bankr. S.D. Tex.) seeking relief under
chapter 11 of the United States Bankruptcy Code.  The Debtors'
cases have been assigned to Judge Marvin Isgur.  These cases are
being jointly administered for procedural purposes, with all
pleadings filed in these cases will be maintained on the case
docket for Ultra Petroleum Corp. Case No. 16-32202.

Ultra Petroleum disclosed total assets of $1.28 billion and total
liabilities of $3.91 billion as of March 31, 2016.  James H.M.
Sprayregen, P.C., David R. Seligman, P.C., Michael B. Slade, Esq.,
Christopher T. Greco, Esq., and Gregory F. Pesce, Esq., at Kirkland
& Ellis LLP; and Patricia B. Tomasco, Esq., Matthew D. Cavenaugh,
Esq., and Jennifer F. Wertz, Esq., at Jackson Walker, L.L.P., serve
as co-counsel to the Debtors.  Rothschild Inc. serves as the
Debtors' investment banker; Petrie Partners serves as their
investment banker; and Epiq Bankruptcy Solutions, LLC, serves as
claims and noticing agent.

The Office of the U.S. Trustee has appointed seven creditors of
Ultra Petroleum Corp. to serve on an Official Committee of
Unsecured Creditors.  The Committee tapped Weil, Gotshal & Manges
LLP as its legal counsel; Opportune LLP as advisor; and PJT
Partners LP as its financial advisor.


USG CORP: Moody's Raises CFR to Ba2; Outlook Positive
-----------------------------------------------------
Moody's Investors Service upgraded USG Corporation's Corporate
Family Rating to Ba2 from Ba3 and its Probability of Default Rating
to Ba2-PD from Ba3-PD, since Moody's projects key debt credit over
the next 12 to 18 months supportive of higher ratings. In related
rating actions, Moody's upgraded USG's guaranteed senior unsecured
notes to Ba2 from Ba3, and its non-guaranteed senior unsecured
notes and industrial revenue bonds to Ba3 from B2.  Moody's will
withdraw the ratings assigned to the Guaranteed Notes due 2020 and
Guaranteed Notes due 2021 when each is fully redeemed on December
2.  The rating outlook is positive.  This completes the review
initiated on Aug. 30, 2016.

These ratings/assessments were affected by this action:

  Corporate Family Rating upgraded to Ba2 from Ba3;
  Probability of Default Rating upgraded to Ba2-PD from Ba3-PD;
  Guaranteed senior unsecured notes upgraded to Ba2 (LGD3) from
   Ba3 (LGD3);
  Senior unsecured (not guaranteed) notes upgraded to Ba3 (LGD5)
   from B2 (LGD5);
  Industrial revenue bonds with various maturities (not
   guaranteed) upgraded to Ba3 (LGD5) from B2 (LGD5).
  Speculative Grade Liquidity Rating affirmed at SGL-2.

                         RATINGS RATIONALE

USG's Corporate Family Rating upgrade to Ba2 from Ba3 results from
significantly improved credit metrics following debt reduction of
$900 million in 4Q16 using free cash flow and proceeds from the
sale of L&W Supply, one of the largest distributors of gypsum
wallboard and suspended ceiling tiles for residential and
commercial construction.  Selling this in-house distribution
business allows USG to focus on its higher-margin manufacturing
operations, which have better prospects for earnings growth.  Pro
forma credit metrics will improve with the disposal of this
lower-margin business, despite the $1.5 billion reduction in
top-line sales.  Moody's estimates USG's pro forma EBITA margins
expanding to 16.5%, up from 14% for the 12 months that ended Sept.
30, 2016.  Moody's calculates pro forma interest coverage, defined
as EBITA/interest expense, at about 4.1x, improving from 3.0x for
the 12 months that ended Sept. 30, 2016, and debt/EBITDA declining
to about 2.2x from 3.4x for the same period.  Free cash flow/debt
will improve meaningfully to in excess of 20% pro forma from 17%
for LTM 3Q16.  USG will have about $1.5 billion in total adjusted
debt, inclusive of approximately $400 million of pension
liabilities and operating lease adjustments.  Total adjusted debt
is at the lowest level since 2006 when USG emerged from bankruptcy
proceedings.

The upgrade also considers Moody's expectations that USG will
continue to benefit from its end markets.  Domestic repair and
remodeling activity and new residential construction, drivers of
gypsum revenues and resulting earnings and cash flow generation,
continue to exhibit solid growth potential.  The National
Association of Home Builders (NAHB) Remodeling Market Index, an
industry survey that gauges remodeling contractors' expectations of
demand over the next three months, was 56.8 in 3Q16.  This reading
marks a 6.3% increase from the previous quarter, and the index has
now remained above 50 for the past fourteen quarters, indicating a
sustained growth trend.  Moody's maintains a positive outlook for
the US homebuilding industry, and forecasts new housing starts to
increase to 1.3 million units in 2017, a 13% increase from 1.15
million expected for 2016.

Despite expectations of solid operating performance, risks remain.
The spinoff of L&W could create competitive pressures that USG has
not experienced previously, since USG no longer has a wholly-owned
distribution channel.  USG must remain competitive in order to
retain business with key distributors as well as mitigate potential
volume contraction as its supply purchase agreement with L&W winds
down through 2017.

The positive rating outlook reflects Moody's anticipation that USG
will continue to follow conservative financial policies, and post
solid operating performance over the next 12 to 18 months,
resulting in a strong liquidity profile and key credit metrics that
could support higher ratings.

The upgrade of USG's guaranteed notes due 2025 to Ba2 from Ba3
results from a better Corporate Family Rating, a significant driver
of debt instrument ratings in Moody's Loss Given Default model.
The upgrade of USG's notes not guaranteed by its subsidiaries and
industrial revenue bonds to Ba3 from B2 is driven by a higher
Corporate Family Rating and reduced amount of guaranteed notes.
USG will reduce its guaranteed notes by $600 million on Dec. 2,
resulting in higher recovery values for debt not guaranteed by
USG's subsidiaries and warranting a multiple notch increase.

Positive upward momentum could occur if USG continues to perform
well, delivering key credit metrics that support a higher rating.
Adjusted debt-to-EBITDA remaining below 3.0x and adjusted free cash
flow-to-debt remaining well above 10% throughout the cycle could
support positive rating actions.  USG must also demonstrate an
ability to weather the volatility in its key end markets, as well
as maintain a sound balance between capital returned to
shareholders and capital used for growth opportunities.

Stabilization of ratings may result if USG's operating performance
falls below expectations, resulting in the following credit metrics
(ratios include Moody's standard adjustments) and characteristics:

  Debt-to-EBITDA sustained above 4.5x
  EBITA-to-interest expense approaching 3.0x
  Significant deterioration in the company's liquidity profile
  Larger-than-projected return of capital to shareholders
  Large debt-financed acquisitions

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

USG Corporation, headquartered in Chicago, IL, is a North American
manufacturer of primarily wallboard, and ceiling tiles and ceiling
grids for commercial applications.  Pro forma revenues excluding
L&W Supply Corp. for the 12 months through Sept. 30, 2016, totaled
approximately $3.0 billion.


VIVA INVESTMENTS: Seeks February 21 Exclusivity Extension
---------------------------------------------------------
VIVA Investments Limited Liability Company seeks a 90-day extension
from the U.S. Bankruptcy Court for the Southern District of Florida
of its exclusive period to file a plan of reorganization, through
and including Feb. 21, 2017, and exclusive period to solicit
acceptances of a plan, through and including April 20, 2017.

The Debtor tells the Court that it has filed its plan and
disclosure statement on Sept. 28, 2016, and the hearing for
confirmation of the plan is set for Jan. 10, 2017.  However, in an
abundance of caution, the Debtor is asking for extension in the
event any amendments to the Plan are necessary.

                              About VIVA Investments

Palm Beach Gardens, Florida-based VIVA Investments Limited
Liability Company filed for Chapter 11 bankruptcy protection
(Bankr. S.D. Fla. Case No. 15-11753) on Jan. 29, 2015, listing
$1.19 million in total assets and $1.95 million in total
liabilities.  The petition was signed by Sriram Srinivasan,
manager.  Judge Paul G. Hyman, Jr., presides over the case.

Aaron A Wernick, Esq., at Furr & Cohen serves as the Debtor's
bankruptcy counsel.


WISCONSIN DAIRY: Counsel To Be Paid in Full at 3.5% Per Annum
-------------------------------------------------------------
Southwestern Wisconsin Dairy Goat Products Cooperative filed with
the U.S. Bankruptcy Court for the Western District of Wisconsin an
amended Disclosure Statement and Plan of Reorganization, which
provides for the full payment of all allowed administrative,
secured and unsecured claims.

The claims of Krekeler Strother, as the Debtor's counsel, will be
paid in full, subject to approval and order of the court, upon the
Effective Date or upon consent to other treatment by Krekeler
Strother, S.C., with interest at the rate of 3.5% per annum.  The
amount of such fees to be approved is estimated to be $18,500.  Any
amounts remaining due will be paid by monthly payments by the
Debtor to amortize the balance over 2 years.  Such payments,
however, will be made only upon approval by the Court of such
administrative expense claims.  As of Sept. 12, 2016, Krekeler
Strother incurred unpaid fees and expenses for its services as
counsel for the Debtor in the approximate amount of$16,538.

As of Petition Date, People's secure claim has a total aggregate
value of approximately $769,387.  People's secured claim will be
paid in full, with interest at the fixed rate of 5.5% per annum,
amortized over 7 years, to be paid in full within 7 years according
to a payment schedule.

General unsecured claimants, which total approximately $8,114, will
be paid in full, with interest at the fixed rate of 3.5% per annum,
amortized over 7 years, to be paid in full within 7 years, in equal
monthly payments of $110, with the first payment to be paid within
30 days of the Effective Date of the Plan, and then paid on the
15th day of each month thereafter. The unsecured general unsecured
claimants will share pro rata in the monthly distributions.

The Debtor will continue its operations in producing dairy goat
products for wholesale and retail sale and will utilize profits,
revenues, income from operations, and cash on hand on the Effective
Date, to effectuate the proposed Plan.

A blacklined version of the Amended Disclosure Statement dated Oct.
24, 2016 is available at:

      http://bankrupt.com/misc/wiwb16-10968-47.pdf

               About Southwestern Wisconsin

Southwestern Wisconsin Dairy Goat Products Cooperative is a
member-owned and operated cooperative and does business as Mt.
Sterling Co-op Creamery, Mt. Sterling Cheese Co-op, and Mt.
Sterling Cheese.  The  Debtor filed for Chapter 11 bankruptcy
protection (Bankr. W.D. Wis. Case No. 16-11994) on June 3, 2016.  

The Debtor is represented by Eliza M. Reyes, Esq., and Jennifer M.
Schank, Esq., at Krekeler Strother, S.C.  The case is assigned to
Judge Robert D. Martin.


WOMEN'S WELLNESS: Unsecured Creditors' Recovery Under Plan Unknown
------------------------------------------------------------------
The Women's Wellness Center of South Florida filed with the U.S.
Bankruptcy Court for the Southern District of Florida a disclosure
statement dated Nov. 14, 2016, referring to the Debtor's plan of
reorganization.

Class 5 General Unsecured Claims are impaired.  There will be no
distributions under the Plan because the values of claims are
unknown and no proofs of claims have been filed prior to claims bar
date.

Payments and distributions under the Plan will be funded by income
from operating the Debtor's business.  In addition, the Debtor's
principal will make additional capital contribution to the Debtor
to fund the Plan payments.

The Disclosure Statement is available at:

           http://bankrupt.com/misc/flsb16-12189-98.pdf

The Plan was filed by the Debtor's counsel:

     Gian Ratnapala, Esq.
     GCR Business Law, PLLC
     500 East Broward Boulevard, Suite 1710
     Fort Lauderdale, Florida 33394
     Tel: (954) 848-2830
     Fax: (954) 848-2870
     E-mail: gian@gcrbl.com

The Women's Wellness Center of South Florida LLC is a single member
limited liability company whose sole member is Dr. Tara Solomon.
In 2014, Dr. Solomon was compensated $156,000 and in 2015, Dr.
Solomon was compensated $105,500.  As of June 30, 2016, Dr. Solomon
received $71,360.64 in compensation.

The Debtor filed a Chapter 11 petition (Bankr. S.D. Fla. Case No.
16-12189), on Feb. 17, 2016.  The Debtor's counsel is Gian C.
Ratnapala, Esq., of GCR Business Law, PLLC, in Fort Lauderdale,
Florida.


[*] "Chapter 22" Looms Over Some Oil & Gas Bankruptcy Survivors
---------------------------------------------------------------
The American Bankruptcy Institute, citing Jessica DiNapoli of
Reuters, reported that three companies, which have exited Chapter
11 -- offshore driller Vantage Drilling International, oil and gas
explorers ETX Energy LLC, and Titan Energy LLC -- share some of the
characteristics that led Global Geophysical Services LLC to seek
"Chapter 22," a term coined by restructuring experts for firms that
return to bankruptcy court after their first Chapter 11 overhaul
failed to fix their problems.

According to the report, Moody's Investors Service said in August
that Vantage, in the vulnerable offshore sector, had an
unsustainable debt load.  In ETX Energy's case, its debt and equity
is held largely by the same investors, making a second bankruptcy
filing less likely, Reuters said, citing a person familiar with the
matter.

The Reuters report pointed out that Chapter 22 are not new or
unique to the oil and gas industry as nearly a fifth of all U.S.
companies that exit bankruptcy as a going concern seek creditor
protection again within about five years, according to Edward
Altman, a professor emeritus at the Stern School of Business at New
York University.

One reason is that bankruptcy judges often focus more on forging an
agreement than ensuring it is viable, Lynn LoPucki, a law professor
at the University of California, Los Angeles, and a critic of the
U.S. bankruptcy process, told Reuters.


[^] Recent Small-Dollar & Individual Chapter 11 Filings
-------------------------------------------------------
In re TK Holdings, Ltd.
   Bankr. D. Colo. Case No. 16-21012
      Chapter 11 Petition filed November 10, 2016
         See http://bankrupt.com/misc/cob16-21012.pdf
         represented by: Thomas F. Quinn, Esq.
                         E-mail: tquinn@tfqlaw.com

In re TK Industrial, LLC
   Bankr. D. Colo. Case No. 16-21017
      Chapter 11 Petition filed November 10, 2016
         See http://bankrupt.com/misc/cob16-21017.pdf
         represented by: Thomas F. Quinn, Esq.
                         THOMAS F. QUINN, P.C.
                         E-mail: tquinn@tfqlaw.com

In re El Refugio, LLC
   Bankr. C.D. Cal. Case No. 16-25048
      Chapter 11 Petition filed November 14, 2016
         See http://bankrupt.com/misc/cacb16-25048.pdf
         represented by: Michael Avanesian, Esq.
                         AVANESIAN LAW FIRM
                         E-mail: michael@avanesianlaw.com

In re Palm Development Associates, LLC
   Bankr. S.D. Fla. Case No. 16-25245
      Chapter 11 Petition filed November 14, 2016
         See http://bankrupt.com/misc/flsb16-25245.pdf
         represented by: Harry Winderman, Esq.
                         WEISS, HANDLER & CORNWELL, PA
                         E-mail: harry4334@hotmail.com

In re Green Star Lighting Technologies, LLC
   Bankr. N.D. Ga. Case No. 16-70495
      Chapter 11 Petition filed November 14, 2016
         See http://bankrupt.com/misc/ganb16-70495.pdf
         represented by: W. Douglas Jacobson, Esq.
                         LAW OFFICES OF DOUGLAS JACOBSON, LLC
                         E-mail: douglas@douglasjacobsonlaw.com

In re Koph, Inc.
   Bankr. N.D. Ill. Case No. 16-36244
      Chapter 11 Petition filed November 14, 2016
         See http://bankrupt.com/misc/ilnb16-36244.pdf
         represented by: David P. Lloyd, Esq.
                         DAVID P. LLOYD, LTD.
                         E-mail: courtdocs@davidlloydlaw.com

In re FTZ Networks, Inc.
   Bankr. N.D. Miss. Case No. 16-14020
      Chapter 11 Petition filed November 14, 2016
         See http://bankrupt.com/misc/msnb16-14020.pdf
         represented by: Toni Campbell Parker, Esq.
                         LAW OFFICE OF TONI CAMPBELL PARKER
                         E-mail: tparker002@att.net

In re Culpepper Enterprises, Inc.
   Bankr. S.D. Miss. Case No. 16-51978
      Chapter 11 Petition filed November 14, 2016
         See http://bankrupt.com/misc/mssb16-51978.pdf
         represented by: John D. Moore, Esq.
                         JOHN D. MOORE, P.A.
                         E-mail: john@johndmoorepa.com

In re Paws and Claws Pet Inn, LLC
   Bankr. M.D.N.C. Case No. 16-81010
      Chapter 11 Petition filed November 14, 2016
         See http://bankrupt.com/misc/ncmb16-81010.pdf
         represented by: James C. White, Esq.
                         PARRY TYNDALL WHITE
                         E-mail: jwhite@ptwfirm.com

In re Paul D. Witteman and Michelle R. Wittema
   Bankr. D.N.D. Case No. 16-30593
      Chapter 11 Petition filed November 14, 2016
         represented by: Jon R. Brakke, Esq.
                         VOGEL LAW FIRM
                         E-mail: jbrakke@vogellaw.com

In re Richard Brian Crossan
   Bankr. D.N.J. Case No. 16-31717
      Chapter 11 Petition filed November 14, 2016
         represented by: Vincent Commisa, Esq.
                         E-mail: vcommisa@vdclaw.com

In re Andres F. Minaya and Jenny Minaya
   Bankr. D.N.J. Case No. 16-31726
      Chapter 11 Petition filed November 14, 2016
         represented by: Robert C. Nisenson, Esq.
                         ROBERT C. NISENSON, LLC
                         E-mail: rnisenson@aol.com

In re Graphic Technology Services Inc.
   Bankr. D.N.J. Case No. 16-31740
      Chapter 11 Petition filed November 14, 2016
         See http://bankrupt.com/misc/njb16-31740.pdf
         represented by: Leonard S. Singer, Esq.
                         ZAZELLA & SINGER, ESQS.
                         E-mail: zsbankruptcy@gmail.com

In re Ringwood Properties, LLC
   Bankr. D.N.J. Case No. 16-31767
      Chapter 11 Petition filed November 14, 2016
         See http://bankrupt.com/misc/njb16-31767.pdf
         represented by: James C. Zimmermann, Esq.
                         LAW OFFICES ON JAMES C. ZIMMERMANN, ESQ.
                         E-mail: jim@jzlawyer.com

In re Zip's Wiseguys Inc.
   Bankr. W.D.N.Y. Case No. 16-12294
      Chapter 11 Petition filed November 14, 2016
         See http://bankrupt.com/misc/nywb16-12294.pdf
         represented by: Arthur G. Baumeister, Jr., Esq.
                         AMIGONE, SANCHEZ, ET AL
                         E-mail: abaumeister@amigonesanchez.com

In re Plaza Oriental, Inc.
   Bankr. D.P.R. Case No. 16-09030
      Chapter 11 Petition filed November 14, 2016
         See http://bankrupt.com/misc/prb16-09030.pdf
         represented by: Alexis Fuentes Hernandez, Esq.
                         FUENTES LAW OFFICES, LLC
                         E-mail: alex@fuentes-law.com

In re Pedro Resendiz-Diaz and Silvia Resendiz
   Bankr. E.D. Tex. Case No. 16-42077
      Chapter 11 Petition filed November 14, 2016
         represented by: Michael J. Wiss, Esq.
                         WISS & FREEMYER, LLP
                         E-mail: mjwiss@hotmail.com

In re Triad Design Group, Inc.
   Bankr. N.D. Tex. Case No. 16-34431
      Chapter 11 Petition filed November 14, 2016
         See http://bankrupt.com/misc/txnb16-34431.pdf
         represented by: Robert Thomas DeMarco, Esq.
                         DEMARCO-MITCHELL, PLLC
                         E-mail: robert@demarcomitchell.com

In re Critical Car Care, Inc.
   Bankr. C.D. Cal. Case No. 16-25072
      Chapter 11 Petition filed November 15, 2016
         See http://bankrupt.com/misc/cacb16-25072.pdf
         represented by: Steven R. Fox, Esq.
                         LAW OFFICES OF STEVEN R. FOX
                         E-mail: emails@foxlaw.com

In re Hector Ocegueda
   Bankr. C.D. Cal. Case No. 16-25106
      Chapter 11 Petition filed November 15, 2016
         represented by: M. Jonathan Hayes, Esq.
                         SIMON RESNIK HAYES LLP
                         E-mail: jhayes@srhlawfirm.com

In re Gregory Adeodato Ressi Di Cervia
   Bankr. N.D. Cal. Case No. 16-53242
      Chapter 11 Petition filed November 15, 2016
         represented by: Michael W. Malter, Esq.
                         LAW OFFICES OF BINDER AND MALTER
                         E-mail: michael@bindermalter.com

In re Level 1, Inc.
   Bankr. M.D. Fla. Case No. 16-07454
      Chapter 11 Petition filed November 15, 2016
         See http://bankrupt.com/misc/flmb16-07454.pdf
         represented by: David R. McFarlin, Esq.
                         FISHER RUSHMER, P.A.
                         E-mail: dmcfarlin@fisherlawfirm.com

In re Donald R. Green
   Bankr. N.D. Fla. Case No. 16-10260
      Chapter 11 Petition filed November 15, 2016
         represented by: Seldon J. Childers, Esq.
                         CHILDERSLAW, LLC
                         E-mail: jchilders@smartbizlaw.com

In re Lisa Taylor Elliott
   Bankr. S.D. Fla. Case No. 16-25283
      Chapter 11 Petition filed November 15, 2016
         Filed Pro Se

In re Benjamin Eye Care, LLC
   Bankr. N.D. Ill. Case No. 16-36409
      Chapter 11 Petition filed November 15, 2016
         See http://bankrupt.com/misc/ilnb16-36409.pdf
         represented by: Brian K Wright, Esq.
                         BRIAN WRIGHT & ASSOCIATES, P.C.
                         E-mail: bw@wrightandassociateslaw.com

In re S&R Pishva Investments LLC
   Bankr. D. Md. Case No. 16-25126
      Chapter 11 Petition filed November 15, 2016
         See http://bankrupt.com/misc/mdb16-25126.pdf
         represented by: Timothy J. Sessing, Esq.
                         ADAMS MORRIS & SESSING
                         E-mail: timsessing2@gmail.com

In re Reliable Human Services, Inc.
   Bankr. D. Minn. Case No. 16-43368
      Chapter 11 Petition filed November 15, 2016
         See http://bankrupt.com/misc/mnb16-43368.pdf
         represented by: Steven B. Nosek, Esq.
                         STEVEN B. NOSEK, P.A.
                         E-mail: snosek@noseklawfirm.com

In re Haley Gray
   Bankr. E.D.N.C. Case No. 16-05928
      Chapter 11 Petition filed November 15, 2016
         represented by: Danny Bradford, Esq.
                         PAUL D. BRADFORD, PLLC
                         E-mail: dbradford@bradford-law.com

In re Jerome Mamola and Amity Mamola
   Bankr. D.N.J. Case No. 16-31847
      Chapter 11 Petition filed November 15, 2016
         represented by: Timothy P. Neumann, Esq.
                         BROEGE, NEUMANN, FISCHER & SHAVER
                         E-mail: timothy.neumann25@gmail.com

In re Octavio Torres-Rodarte
   Bankr. D. Nev. Case No. 16-16095
      Chapter 11 Petition filed November 15, 2016
         represented by: MICHAEL J. HARKER, Esq.
                         E-mail: notices@harkerlawfirm.com

In re Michael A. Lesick
   Bankr. D. Nev. Case No. 16-16097
      Chapter 11 Petition filed November 15, 2016
         represented by: Seth D. Ballstaedt, Esq.
                         THE BALLSTAEDT LAW FIRM
                         E-mail: seth@ballstaedtlaw.com

In re 213 Bond Street Inc.
   Bankr. E.D.N.Y. Case No. 16-45132
      Chapter 11 Petition filed November 15, 2016
         See http://bankrupt.com/misc/nyeb16-45132.pdf
         represented by: Lawrence Morrison, Esq.
                         MORRISON TENENBAUM PLLC
                         E-mail: lmorrison@m-t-law.com

In re H & S Auto Outlet, Inc.
   Bankr. E.D. Pa. Case No. 16-17984
      Chapter 11 Petition filed November 15, 2016
         See http://bankrupt.com/misc/paeb16-17984.pdf
         represented by: Maggie S. Soboleski, Esq.
                         CENTER CITY LAW OFFICES LLC
                         E-mail: msoboles@yahoo.com

In re Shannon Elizabeth Seth
   Bankr. W.D. Wash. Case No. 16-15720
      Chapter 11 Petition filed November 15, 2016
         represented by: Tuella O Sykes, Esq.
                         E-mail: TOS@tuellasykeslaw.com

In re AP&E Properties, LLC
   Bankr. S.D.W. Va. Case No. 16-50282
      Chapter 11 Petition filed November 15, 2016
         See http://bankrupt.com/misc/wvsb16-50282.pdf
         represented by: George L. Lemon, Esq.
                         LEMON LAW OFFICE
                         E-mail: georgelemon@frontier.com

In re Maureen Lee
   Bankr. N.D. Cal. Case No. 16-43182
      Chapter 11 Petition filed November 16, 2016
         represented by: James A. Shepherd, Esq.
                         ELKINGTON SHEPHERD LLP
                         E-mail: jim@elkshep.com

In re Lisa H. Moore
   Bankr. M.D. Fla. Case No. 16-04223
      Chapter 11 Petition filed November 16, 2016
         represented by: Adina L Pollan, Esq.
                         POLLAN LEGAL
                         E-mail: apollan@pollanlegal.com

In re Douglas Proctor
   Bankr. S.D. Fla. Case No. 16-25369
      Chapter 11 Petition filed November 16, 2016
         represented by: Craig I Kelley, Esq.
                         E-mail: craig@kelleylawoffice.com

In re GWG Investments, LLC
   Bankr. S.D. Fla. Case No. 16-25371
      Chapter 11 Petition filed November 16, 2016
         See http://bankrupt.com/misc/flsb16-25371.pdf
         represented by: Sonya L. Salkin, Esq.
                         THE SALKIN LAW FIRM, P.A.
                         E-mail: sls@msbankrupt.com

In re Vijyamba, Inc.
   Bankr. N.D. Ga. Case No. 16-70647
      Chapter 11 Petition filed November 16, 2016
         See http://bankrupt.com/misc/ganb16-70647.pdf
         represented by: Angelyn M. Wright, Esq.
                         THE WRIGHT LAW OFFICE, P.C.
                         E-mail: twlopc@earthlink.net

In re Fivewest Chauffeur Corp.
   Bankr. N.D. Ill. Case No. 16-36557
      Chapter 11 Petition filed November 16, 2016
         See http://bankrupt.com/misc/ilnb16-36557.pdf
         represented by: William E. Jamison Jr., Esq.
                         WILLIAM E. JAMISON & ASSOCIATES
                         E-mail: wjami39246@aol.com

In re Rustle Hill Winery, LLC
   Bankr. S.D. Ill. Case No. 16-41058
      Chapter 11 Petition filed November 16, 2016
         See http://bankrupt.com/misc/ilsb16-41058.pdf
         represented by: Douglas A Antonik, Esq.
                         ANTONIK LAW OFFICES
                         E-mail: antoniklaw@charter.net

In re Railyard Brewing Company, LLC
   Bankr. D.N.M. Case No. 16-12829
      Chapter 11 Petition filed November 16, 2016
         See http://bankrupt.com/misc/nmb16-12829.pdf
         represented by: Michael K. Daniels, Esq.
                         E-mail: mdaniels@nm.net

In re Brooklyn Reliable Realty Inc.
   Bankr. E.D.N.Y. Case No. 16-45161
      Chapter 11 Petition filed November 16, 2016
         See http://bankrupt.com/misc/nyeb16-45161.pdf
         represented by: Eric H. Horn, Esq.
                         VOGEL BACH & HORN, LLP
                         E-mail: ehorn@vogelbachpc.com

In re The Potter House, Inc.
   Bankr. S.D.N.Y. Case No. 16-36948
      Chapter 11 Petition filed November 16, 2016
         See http://bankrupt.com/misc/nysb16-36948.pdf
         represented by: Thomas Genova, Esq.
                         GENOVA & MALIN, ATTORNEYS
                         E-mail: genmallaw@optonline.net

In re TK Diversified Services, LLC
   Bankr. D. Colo. Case No. 16-21019
      Chapter 11 Petition filed November 17, 2016
         See http://bankrupt.com/misc/cob16-21019.pdf
         represented by: Thomas F. Quinn, Esq.
                         THOMAS F. QUINN, P.C.
                         E-mail: tquinn@tfqlaw.com

In re Big Sky, LLC
   Bankr. D. Colo. Case No. 16-21020
      Chapter 11 Petition filed November 10, 2016
         See http://bankrupt.com/misc/cob16-21020.pdf
         represented by: Thomas F. Quinn, Esq.
                         THOMAS F. QUINN, P.C.
                         E-mail: tquinn@tfqlaw.com

In re CASS Properties, LLC
   Bankr. S.D. Ala. Case No. 16-04035
      Chapter 11 Petition filed November 17, 2016
         See http://bankrupt.com/misc/alsb16-04035.pdf
         represented by: Christopher Kern, Esq.
                         E-mail: courtnotices@chriskernlaw.com

In re Eleganzarella, Inc.
   Bankr. C.D. Cal. Case No. 16-25200
      Chapter 11 Petition filed November 17, 2016
         See http://bankrupt.com/misc/cacb16-25200.pdf
         represented by: Anthony Obehi Egbase, Esq.
                         LAW OFFICES OF ANTHONY O EGBASE & ASSOC.
                         E-mail: info@aoelaw.com

In re Maria Guadalupe Martinez
   Bankr. C.D. Cal. Case No. 16-25204
      Chapter 11 Petition filed November 17, 2016
         represented by: Onyinye N. Anyama, Esq.
                         ANYAMA LAW FIRM
                         E-mail: onyi@anyamalaw.com

In re Global Fish Handlers, Corp.
   Bankr. S.D. Fla. Case No. 16-25406
      Chapter 11 Petition filed November 17, 2016
         See http://bankrupt.com/misc/flsb16-25406.pdf
         represented by: Robert A. Angueira, Esq.
                         ROBERT A. ANGUEIRA, P.A.
                         E-mail: rangueir@bellsouth.net

In re Deborah Ann Vinson
   Bankr. E.D. La. Case No. 16-12818
      Chapter 11 Petition filed November 17, 2016
         represented by: Darryl T. Landwehr, Esq.
                         E-mail: dtlandwehr@cox.net

In re Town & Country Chimney Service, Inc.
   Bankr. D. Md. Case No. 16-25263
      Chapter 11 Petition filed November 17, 2016
         See http://bankrupt.com/misc/mdb16-25263.pdf
         represented by: Edward M. Miller, Esq.
                         MILLER AND MILLER, LLP
                         E-mail: mmllplawyers@verizon.net

In re Hany Elazab
   Bankr. D.N.J. Case No. 16-32037
      Chapter 11 Petition filed November 17, 2016
         represented by: Barry Scott Miller, Esq.
                         E-mail: bmiller@barrysmilleresq.com

In re 3490RT94, LLC
   Bankr. D.N.J. Case No. 16-32067
      Chapter 11 Petition filed November 17, 2016
         See http://bankrupt.com/misc/njb16-32067.pdf
         represented by: Donald F. Campbell, Jr., Esq.
                         GIORDANO HALLERAN & CIESLA, P.C.
                         E-mail: dcampbell@ghclaw.com

In re Michael Carbone, Sr.
   Bankr. E.D.N.Y. Case No. 16-45189
      Chapter 11 Petition filed November 17, 2016
         represented by: Lawrence Morrison, Esq.
                         E-mail: lmorrison@m-t-law.com

In re Raymond Surillo
   Bankr. E.D.N.Y. Case No. 16-75391
      Chapter 11 Petition filed November 17, 2016
         represented by: J Ted Donovan, Esq.
                         GOLDBERG WEPRIN FINKEL GOLDSTEIN LLP
                         E-mail: Tdonovan@gwfglaw.com

In re Hudson Valley Hospitality Group, Inc.
   Bankr. S.D.N.Y. Case No. 16-23590
      Chapter 11 Petition filed November 17, 2016
         See http://bankrupt.com/misc/nysb16-23590.pdf
         represented by: Anne J. Penachio, Esq.
                         PENACHIO MALARA LLP
                         E-mail: apenachio@pmlawllp.com

In re 32-34 South Sixth Avenue Realty Corp.
   Bankr. S.D.N.Y. Case No. 16-23591
      Chapter 11 Petition filed November 17, 2016
         See http://bankrupt.com/misc/nysb16-23591.pdf
         represented by: Todd S. Cushner, Esq.
                         GARVEY TIRELLI & CUSHNER LTD.
                         E-mail: todd@thegtcfirm.com

In re Roger D. Anderson
   Bankr. S.D. Ohio Case No. 16-57421
      Chapter 11 Petition filed November 17, 2016
         represented by: Richard K Stovall, Esq.
                         E-mail: stovall@aksnlaw.com

In re Power Cooling Controls, Inc.
   Bankr. D.P.R. Case No. 16-09134
      Chapter 11 Petition filed November 17, 2016
         See http://bankrupt.com/misc/prb16-09134.pdf
         represented by: Lyssette A. Morales Vidal, Esq.
                         LYSSETE MORALESLAW OFFICE
                         E-mail: lamoraleslawoffice@gmail.com

In re KDS Group PLLC dba Advanced Orthontic Studio
   Bankr. E.D. Tex. Case No. 16-42101
      Chapter 11 Petition filed November 17, 2016
         See http://bankrupt.com/misc/txeb16-42101.pdf
         represented by: Eric A. Liepins, Esq.
                         ERIC A. LIEPINS, P.C.
                         E-mail: eric@ealpc.com


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Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
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 ***