TCR_Public/161230.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Friday, December 30, 2016, Vol. 20, No. 364

                            Headlines

4 ACES BINGO: Case Summary & 20 Largest Unsecured Creditors
ADAMIS PHARMACEUTICALS: Resubmits NDA for PFS Product
ANSWERS CORP: Moody's Withdraws All Ratings
ARGON CREDIT: Court Allows Cash Collateral Use on Interim Basis
ASSOCIATED ASPHALT: S&P Affirms 'B' CCR & Reviews Rating

AUTOPARTS HOLDINGS: Moody's Upgrades CFR to B3 After Refinancing
BARA HOLDINGS: Allowed to Use IDOR Cash Collateral Thru Feb. 24
BARA HOLDINGS: Authorized to Use IRS Cash Collateral Until Feb. 24
BASIC ENERGY: NYSE Removes Old Common Stock from Listing
BEEBE DIVERSIFIED:  Asks  Court to Authorize Continued Cash Use

BELK INC: S&P Lowers CCR to 'B' on Weak Operating Performance
BERTELLI REALTY: Seeks Court Approval to Use Cash Collateral
BIG APPLE CIRCUS: Plans February Auction for IP, Equipment
BIG APPLE CIRCUS: Selling Assets After Season Cancelled
BMC SOFTWARE: S&P Revises Outlook to Stable & Affirms 'B' CCR

BRADFORD, PA: S&P Lowers Underlying Rating on GO Debt to 'BB+'
BROADCOM LTD: S&P Raises Corp. Credit Rating From BB+
CASA MEDIA: Asks Court to Move Plan Exclusivity Period to March 27
CASCELLA & SON: Has Until Feb. 28 to Use Cash Collateral
CDR STRAINERS: Seeks Court Approval for Continued Cash Use

CENTRAL IOWA: Court Sets Jan. 13 Final Cash Collateral Hearing
CENTRAL IOWA: U.S. Trustee Forms 5-Member Committee
CENTRAL LAUNDRY: Disclosures OK'd; Plan Hearing on Feb. 8
CERRITOS REFERENCE: Unsecured Creditors to Get 50% Under Exit Plan
CHARTER HIGH: S&P Lowers Rating on 2013 School Bonds to 'BB'

CIT GROUP: S&P Rates $1.209BB Sr. Unsec. Notes Due 2018 'BB+'
CLARK-CUTLER-MCDERMOTT: Can Use Cash Collateral Until Jan. 20
CLINICAL PET: Wants to Use 1st Manatee Bank Cash Collateral
COLLEGIATE ACADEMY: S&P Affirms 'B+' Rating on 2004 School Bonds
CONTEXTMEDIA HEALTH: S&P Lowers CCR to 'B-' on Revised Criteria

CREEKSIDE CANCER: Court Allows MidFirst Cash Use on Interim Basis
CRESTWOOD HOLDINGS: S&P Affirms 'CCC+' Rating on Sr. Sec. Debt
CROWN HOLDINGS: S&P Reviews Ratings Following Revised Criteria
D & N Electric: Seeks Approval to Pay $429K to Vendor IBEW
D & N ELECTRIC: Wants Authorization to Use Bank of America Cash

DANCING WATERS: $8.3MM Sale of Governor's Point Property Approved
DEL RESTAURANT: Court Moves Plan Filing Deadline Through April 20
DELPHI CORP: Treasury Dept Must Turn Over Evidence, Judge Says
DELTAVILLE BOATYARD: Can Use Cash Collateral on Final Basis
DIAMOND XPRESS: Unsecureds To Recoup 100% Over 120 Months

DUNLAP STREET: Kish Bank To Be Pad in Full With Interest
EMPIRE TODAY: S&P Withdraws 'CCC' CCR at Issuer's Request
EMPRESAS PLAYA: Unsecureds To Recoup 2% Over 60 Months
EVEN ST. PRODUCTIONS: Taps BPE&H as Accountant
FANSTEEL INC: Wants to Continue Using Cash Collateral

FOUR DIA: Can Use CapitalSpring Cash Collateral on Final Basis
FUNCTION(X) INC: Borrows Additional $250,000 from Sillerman
GARDEN OF EDEN: Court Extends Plan Exclusivity Until March 27
GARLOCK SEALING: Asbestos Committees Urge Court to Okay $20M Deal
GOLDEN BEARS 88: Hires Newman & Newman as Attorney

GOOD SHEPHERD: S&P Puts 'B-' Bonds Rating on CreditWatch Dev.
GREAT BASIN: Stockholders OK Reverse Common Stock Split
HAMPSHIRE GROUP: Proposes January Auction for James Campbell Biz.
HAMPSHIRE GROUP: Seeks to Sell James Campbell Assets
HAMPSHIRE GROUP: US Trustee & Committee Object to Campbell Sale

HAPPY JACK'S: Taps McPherron Skiles as Accountants
HILTON GRAND: S&P Raises Rating on Sr. Unsecured Debt to BB+
HOOVER GROUP: S&P Revises Outlook to Negative & Affirms 'B' CCR
HPA NORTHRIDGE: Hires Backenroth Frankel as Counsel
HPIL HOLDING: Sells $60,000 Convertible Note to KCG

IMPLANT SCIENCES: Posts $27M Net Loss for Sept. 2016 Quarter
IMPLANT SCIENCES: Sale to L-3 Okayed; Deal to Close by Jan. 5
IRENE STACY: Unsecureds To Get Share of Real Estate Sale Proceeds
KENT MANOR: Arranges $100K Loan From Harford Hotel
KEY ENERGY: Contrarian Reports 11.8% Stake as of Dec. 15

KEY ENERGY: George Soros Reports 9.09% Stake as of Dec. 15
KEY ENERGY: Platinum Equity Reports 48.8% Stake as of Dec. 15
KEY ENERGY: Silver Point Reports 6.7% Stake as of Dec. 15
KING & WOOD: Files Notice of Intent to Appoint UK Administrators
LEGENDS COLLISION: U.S. Trustee Unable to Appoint Committee

LEHMAN BROTHERS: To Get $2-Mil. in SecurityNational Settlement
LEO MOTORS: Signs $30 Million Sales Contract With Miho Story
LEWIS HEALTH: Has Until Feb. 15 to File Reorganization Plan
LIFE CHANGE: SBA To Get $119 Per Month
LINCOLN RESTAURANTS: Seeks 30-Day Plan Filing Period Extension

LINN ENERGY: Shareholders Seek Official Committee
LOPEK COMPANIES: Court Allows Cash Collateral Use on Interim Basis
MADDD WEST: Case Summary & 7 Unsecured Creditors
MAGNUM MOVERS: Names Dean Greer as Legal Counsel
MALIBU LIGHTING: Wants May 4 Plan Filing Period Extension

MARINERS PORTFOLIO: Hires LaMonica Herbst as Counsel
MCCLATCHY CO: Committee to Purchase Annuity Contract from AUL
MID CITY TOWER: On Final Stage to Close on Short-Term Bridge Loan
MODULAR SPACE: Files Modified Plan of Reorganization
MODULAR SPACE: First Day Hearing Held

NEW YORK CRANE: Needs Until March 13 to Solicit Plan Acceptances
NEWBURY COMMON: Court Extends Plan Filing Period to Feb. 6
NEXTSTEP DEVELOPMENT: Wants Plan Exclusivity Extended to Feb. 28
NNN 400 CAPITOL: Can Use Cash Collateral on Interim Basis
NORDICA SOHO: Wants Solicitation Period Extended Thru March 3

NORTEL NETWORKS: Seeks Approval of $565 Million Accord with PBGC
OCI BEAUMONT: S&P Affirms 'CCC+' CCR & Revises Outlook to Positive
PBA EXECUTIVE: Swift Capital Wants Court to Prohibit Cash Use
PBF HOLDING: S&P Affirms 'BB' Corp. Credit Rating; Outlook Stable
PERFORMANCE SPORTS: Asks Court to Approve Employee Bonus Plans

PERFORMANCE SPORTS: Coliseum Capital Unloads Shares
PETROLEUM PRODUCTS: Settles CPTDC Claim for $5MM
PF ROOSEVELT: S&P Lowers Rating on 2014A & 2014A-T Bonds to 'BB+'
PLANET MERCHANT: Proposes to Sell Assets to Fund Exit Plan
PODIUM PERFORMANCE: Has Until Feb. 28 to Use Cash Collateral

PORTAGE ELECTRIC: Hires Kraft Auction to Sell Personal Property
PRECISION OPTICS: Dolphin Offshore Holds 18.2% Stake as of Dec. 27
PRESSURE BIOSCIENCES: Files Preliminary Prospectus with SEC
R&B VENTURES: Seeks Authorization to Use Chantry Cash Collateral
REAM PROPERTIES: Unsecureds To Get $18,000 Over Five Years

REDEEMED CHRISTIAN: To Sell Assets To Fund Exit Plan
REGATTA CONSTRUCTION: Unsecured Creditors to Recover 4%-5%
RESOLUTE ENERGY: Closes Common Stock Offering & Exercise of Option
ROCKIES EXPRESS: S&P Affirms BB+ Rating on Sr. Unsecured Debt
RSF 17872: Has Until March 20 to File Plan of Reorganization

RUSTLE HILL: U.S. Trustee Unable to Appoint Committee
RWL INVESTMENTS: Court Prohibits Use of First Security Bank Cash
SANDRIDGE ENERGY: Settles Whistleblower Retaliation Charges
SEAHAWK PORTFOLIO: Hires LaMonica Herbst as Counsel
SHORT ENTERPRISES: U.S. Trustee Unable to Appoint Committee

SILVER LINE: Selling Commercial Real Estate to Wind Gap
SK VISION: Case Summary & 13 Unsecured Creditors
STRINGER FARMS: Can Use Cash Collateral Through Jan. 14
SUPERIOR ENERGY: S&P Lowers CCR to 'BB-', Outlook Negative
TAUREN EXPLORATION: Court Approves Gloria's Ranch's Plan Outline

TERESA GIUDICE: Asks State Court to Reinstate Suit vs Lawyer
UNIVERSAL DOOR: Unsecureds To Recoup 5% Under Plan
USA SALES: Wants Plan Filing Period Extended to April 28
VERTELLUS SPECIALTIES: Unsecured Creditors to Get Up to 3.4%
WALTER H. BOOTH: Court Allows Cash Collateral Use Until Feb. 28

WEST 41 PROPERTY: Unsecureds To Recoup 100% Under Plan
[^] BOOK REVIEW: The First Junk Bond

                            *********

4 ACES BINGO: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: 4 Aces Bingo, Inc.
        16000 East Colfax Avenue
        Aurora, CO 80011

Case No.: 16-22413

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: December 28, 2016

Court: United States Bankruptcy Court
       District of Colorado (Denver)

Judge: Hon. Elizabeth E. Brown

Debtor's Counsel: Jeffrey S. Brinen, Esq.
                  KUTNER BRINEN, P.C.
                  1660 Lincoln St., Ste. 1850
                  Denver, CO 80264
                  Tel: 303-832-2400
                  E-mail: jsb@kutnerlaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $500,000 to $1 million

The petition was signed by William Weaver, president.

The Debtor has no unsecured creditor.

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

        http://bankrupt.com/misc/cob16-22413.pdf


ADAMIS PHARMACEUTICALS: Resubmits NDA for PFS Product
-----------------------------------------------------
Adamis Pharmaceuticals Corporation announced the re-submission of
the Company's New Drug Application to the U.S. Food and Drug
Administration for its Epinephrine Pre-filled Syringe ("PFS")
product candidate for the emergency treatment of anaphylaxis.  The
resubmission is intended to address the issues raised by the FDA in
the agency's June 2016 Complete Response Letter.

Dr. Dennis J. Carlo, president and CEO of Adamis, stated, "We are
pleased to resubmit our Epinephrine Pre-filled Syringe NDA.  With
all of the recent news regarding products in the anaphylaxis
market, we believe our product, now so, more than ever, can be a
part of the potential solution for patients and payors as there is
an obvious need for a low-cost therapeutic alternative like our
PFS.  I was encouraged by the results of the Human Factors study in
that it showed our product to be intuitive in its use.  In
addition, based on what we have seen, we believe that many
individuals would prefer our product over the EpiPen.  The Human
Factors study consisted of testing in trained and untrained
adolescents (12 to 18 years of age), trained and untrained adults,
and trained and untrained caretakers."

                          About Adamis

San Diego, Calif.-based Adamis Pharmaceuticals Corporation (OTC
QB: ADMP) is a biopharmaceutical company engaged in the
development and commercialization of specialty pharmaceutical and
biotechnology products in the therapeutic areas of respiratory
disease, allergy, oncology and immunology.

Adamis reported a net loss of $13.6 million on $0 of revenue for
the year ended Dec. 31, 2015, compared to a net loss of $9.31
million on $0 of revenue for the year ended Dec. 31, 2014.

As of Sept. 30, 2016, the Company had $36.74 million in total
assets, $11.98 million in total liabilities and $24.76 million in
total stockholders' equity.

Mayer Hoffman McCann P.C., in San Diego, California, issued a
"going concern" qualification on the consolidated financial
statements for the year ended Dec. 31, 2016, citing that the
Company has incurred recurring losses from operations, and is
dependent on additional financing to fund operations.  These
conditions raise substantial doubt about the Company's ability to
continue as a going concern.


ANSWERS CORP: Moody's Withdraws All Ratings
-------------------------------------------
Moody's Investors Service has withdrawn all ratings and LGD
assessments of Answers Corporation.

RATINGS RATIONALE

Moody's has withdrawn the ratings because it believes it has
insufficient or otherwise inadequate information to support the
maintenance of the ratings.

The following ratings and assessments were withdrawn:

Issuer: Answers Corporation

Corporate Family Rating -- Caa2

Probability of Default Rating -- Caa2-PD

$40 Million First-Lien Senior Secured Revolver due 2019 -- B3
(LGD-3)

$320 Million (originally $325 Million) First-Lien Senior Secured
Term Loan due 2021 -- B3 (LGD-3)

$180 Million Second-Lien Senior Secured Term Loan due 2022 -- Caa3
(LGD-5)

Outlook Actions:

Outlook, Revised to Withdrawn from Negative

Answers Corporation, headquartered in St. Louis, Missouri, is an
Internet-based media company that operates in two business
segments: (i) Answers.com, which consists of several websites that
utilize a wiki-based, user-generated Q&A platform to monetize high
volume traffic through display advertising and high-demand online
content across a variety of topics; and (ii) Answers Cloud Services
(ACS), which provides an integrated suite of Software-as-a-Service
(SaaS) solutions to help brands and retailers increase customer
traffic to their websites.


ARGON CREDIT: Court Allows Cash Collateral Use on Interim Basis
---------------------------------------------------------------
Judge Deborah L. Thorne of the U.S. Bankruptcy Court for the
Northern District of Illinois authorized Argon Credit LLC and its
affiliated debtors to use cash collateral on an interim basis.

The Debtors are authorized to use cash collateral to pay for
expenses such as payroll, information technology, data services,
collection services, business licensees and insurance, payment
processing fees and bank service charges.  The Debtor was also
authorized to use $87,00 for payroll and employee taxes.

Judge Thorne held that the conditions of adequate protection which
were stated on the record will apply.

A full-text copy of the Order, dated Dec. 23, 2016, is available at

http://bankrupt.com/misc/ArgonCredit2016_1639654_28.pdf

                   About Argon Credit

Argon Credit LLC and Argon X LLC filed chapter 11 petitions (Bankr.
N.D. Ill. Case Nos. 16-39654 and 16-39655) on Dec. 16, 2016.  The
petitions were signed by Raviv Wolfe, chief executive officer.  The
Debtors are represented by Matthew T. Gensburg, Esq., and Philip E.
Groben, Esq., at Dale & Gensburg, P.C.  The cases are assigned to
Judge Timothy A. Barnes.

Argon Credit LLC estimated assets at $1 million to $10 million and
liabilities at $50 million to $100 million.  Argon X LLC estimated
assets at $10 million to $50 million and liabilities at $50 million
to $100 million.


ASSOCIATED ASPHALT: S&P Affirms 'B' CCR & Reviews Rating
--------------------------------------------------------
S&P Global Ratings said that it has reviewed its recovery and
issue-level ratings on Associated Asphalt Partners LLC that were
labeled as "under criteria observation" (UCO) after publishing its
revised recovery ratings criteria on Dec. 7, 2016.  With S&P's
criteria review complete, it is removing the UCO designation from
these ratings and are affirming the 'B' issue-level rating and
revising the recovery rating to '3' from '4', reflecting S&P's
expectation of meaningful recovery (50%-70%) in the event of
default.

These rating actions stem solely from the application of S&P's
revised recovery criteria and do not reflect any change in its
assessment of the corporate credit ratings for issuers of the
affected debt issues.

Ratings List

Associated Asphalt Partners LLC
Corporate Credit Rating                       B/Stable/--

Issue Ratings Affirmed, Recovery Ratings Revised Due To Revised
Recovery
Rating Criteria For Speculative-Grade Corporate Issuers
                                               To            From
Associated Asphalt Partners LLC
Associated Asphalt Finance Corp.
Road Holdings III, LLC
Senior Secured                                B             B
  Recovery Rating                              3             4L


AUTOPARTS HOLDINGS: Moody's Upgrades CFR to B3 After Refinancing
----------------------------------------------------------------
Moody's Investors Service upgraded the Corporate Family and
Probability of Default ratings of Autoparts Holdings Limited
("Autoparts"), to B3 and B3-PD, from Caa2 and Caa2-PD,
respectively, following the completion of the refinancing of
company's debt structure. In a related action Moody's affirmed the
B3 rating the $215 million senior secured term loan. The rating
outlook is stable. This rating action concludes the review for
upgrade initiated on December 2, 2016.

On December 23, 2016, Autoparts closed on a new $215 senior secured
term loan which, along with along with cash on hand, and new cash
equity from Autoparts' sponsor (an affiliate of Rank Group Ltd)
completely refinanced in full Autoparts' prior first lien and
second lien senior secured term loans and paid related fees and
expenses. Reduced funding from the final term loan amount of $215
million, down from the proposed $245 million term loan, was
supplemented with additional equity contributed from Autopart's
sponsor.

The following ratings were upgraded:

Autoparts Holdings Limited:

Corporate Family Rating, to B3 from Caa2;

Probability of Default Rating, to B3-PD from Caa2-PD.

The following rating was affirmed:

Fram Group Holdings Inc./Autolite Operations LLC, as co-borrowers:

B3 (LGD4) on the $215 million senior secured term loan.

The $25 million asset based revolving credit facility is not rated
by Moody's.

The following ratings were withdrawn:

Fram Group Holdings Inc./Fram Group (Canada) Inc., as
co-borrowers:

US$483.6MM (remaining amount) Senior Secured First Lien Term Loan
due July 2017, at Caa1 (LGD3);

US$105MM (remaining amount) Senior Secured Second Lien Term Loan
due January 2018, at Caa3 (LGD5).

RATINGS RATIONALE

The upgrade of Autoparts' CFR to B3 reflects the company's
significantly reduced debt levels following completion of the
refinancing transaction, and the company's stabilizing operating
performance. The transaction applies the company's cash of
approximately $294 million on hand, $74 million of additional
sponsor equity, and the new term loan to the repayment of existing
debt. As result of the refinancing, Autopart's Debt/EBITDA is
estimated to reduce to a pro forma level of 5.4x from 11.4x
(inclusive of Moody's standard adjustments) as of September 30,
2016, while pro forma EBITA/Interest is estimated at 1.6x.
Excluding factored receivables, pro forma debt/EBITDA is estimated
at 4.3x.

Autopart's operating performance has shown signs of stabilizing
following the sale of the Prestone and Holt businesses in April
2016. For the first nine months of 2016 we estimate the company's
EBITA margin at about 10.8%, compared to about 10.4% for the
prior-year period. Given the significant debt reduction, Autoparts
should be positioned to further reduce debt levels over the
intermediate-term.

The ratings consider the company's longstanding customer
relationships with major aftermarket retailers, well-known brand
names (Fram and Autolite), the required replacement characteristics
of these products, and the potential to demonstrate stronger free
cash flow generation for debt reduction following years of cost
reduction actions. Yet, continued top line pressure is expected due
to increasing vehicle service intervals, and ongoing pricing
pressures from the aftermarket retailer customers, along with
ongoing competitive product pressures.

Autoparts is anticipated to have an adequate liquidity profile over
the next 12-15 months supported by positive free cash flow
generation and a $25 million asset based revolving credit facility.
Autoparts' free cash flow generation over the near-term is expected
to be in the 10% range, as a percentage of adjusted debt. The asset
based revolving credit facility was undrawn at closing and is
expected to remain largely unfunded over the near-term. The
financial covenant under the ABL is a springing minimum fixed
charge coverage ratio test based on excess availability. The
financial covenant under the term loan is a maximum total leverage
test. These covenants are expected to have sufficient cushion over
the next 12-15 months. As of September 30, 2016, cash and cash
equivalents were approximately $294 million with about $10.5
million held in non-U.S. subsidiaries. However, as part of the
transaction, the company's cash balances were applied to debt
reduction, leaving nominal cash on hand.

An important aspect of Autopart's liquidity profile is its ability
to factor receivables. As of September 30, 2016, the company sold
$65.4 million of receivables. While we recognize this is a common
practice among automotive aftermarket parts retailers and their
suppliers, we also consider this amount as a potential short-term
funding risk if markets are not available to enter into further
factoring arrangements.

Future events that could potentially improve the company's ratings
include: continued stability in profit trends and free cash flow
generation resulting in debt/EBITDA sustained at 4x, and
EBITA/interest sustained at 3x.

Future events that could drive Autoparts' ratings lower include
deterioration in profit margins, debt/EBITDA failing to be
sustained below 5.5x, or EBITA/interest reverting to 1x. A
deteriorating liquidity profile, inclusive of our forward
estimation of the inability to achieve free cash flow generation of
at least $20 million, could also result in lower ratings.

The principal methodology used in these ratings was Global
Automotive Supplier Industry published in June 2016. Please see the
Rating Methodologies page on www.moodys.com for a copy of this
methodology.

Autoparts Holdings Limited, headquartered in Lake Forest, IL, is a
leading manufacturer of high quality, non-discretionary products
for the automotive and heavy-duty aftermarket. The company's brands
include FRAM®, and Autolite®. For the LTM period ending September
30, 2016, Autoparts had sales of approximately $417 million. The
company is owned by an affiliate of Rank Group Ltd, a New Zealand
based private equity firm.


BARA HOLDINGS: Allowed to Use IDOR Cash Collateral Thru Feb. 24
---------------------------------------------------------------
Judge Jacqueline P. Cox of the U.S. Bankruptcy Court for the
Northern District of Illinois authorized Bara Holdings 23 East LLC
to use the cash collateral of the Illinois Department of Revenue,
from December 22, 2016 to February 24, 2016.

IDOR was granted replacement liens upon the property of the
Debtor's estate and all revenue and profits generated from the
property post-petition, with the same validity, extent and priority
as the liens held by IDOR pre-petition.  

Judge Cox directed the Debtor to continue paying the IDOR the
amount of $4,000 per month, consisting of weekly payments of
$1,000.

A status hearing on the Debtor's continued use of cash collateral
will be held on February 22, 2017 at 10:00 a.m.

A full-text copy of the Second Interim Order, dated December 22,
2016, is available at http://tinyurl.com/gl8fuxd

             About Bara Holdings 23 East

Bara Holdings 23 East LLC is an Illinois limited liability company
that was established in 2010.  It is engaged in the business of
operating an Italian restaurant and bar located at 23 East Jackson
Blvd., Chicago, Illinois, which opened in 2011.

Bara Holdings 23 East LLC filed a Chapter 11 petition (Bankr. N.D.
Ill. Case No. 16-30069) on September 21, 2016.  The petition was
signed by Matthew T. Aiyash, manager.  The Debtor is represented by
Karen J. Porter, Esq., at Porter Law Network.  The Debtor estimated
assets at $0 to $50,000 and liabilities at $100,000 to $500,000 at
the time of the filing.

The Debtor will continue to manage its business and property as a
debtor-in-possession of the Italian restaurant and bar, and to
reorganize its financial affairs.  No trustee or creditors
committee has been appointed by the court.

The Debtor filed two previous Chapter 11 cases.  The first case,
Case No. 12-33535, was filed on Aug. 23, 2012, and was dismissed on
March 11, 2013.  The second case, Case No. 13-26593, was filed on
June 28, 2013, and closed on April 23, 2014, after the confirmation
of a 100% repayment plan and the entry of a final decree.


BARA HOLDINGS: Authorized to Use IRS Cash Collateral Until Feb. 24
------------------------------------------------------------------
Judge Jacqueline P. Cox of the U.S. Bankruptcy Court for the
Northern District of Illinois authorized Bara Holdings 23 East LLC
to use the cash collateral of the Internal Revenue Services, from
December 22, 2016 to February 24, 2016.

The IRS was granted replacement liens upon the property of the
Debtor's estate and all revenue and profits generated from the
property post-petition, with the same validity, extent and priority
as the liens held by Illinois Department of Revenue pre-petition.


Judge Cox directed the Debtor to continue to pay the IRS the amount
of $2,000 per month, consisting of weekly payments of $500.

A status hearing on the Debtor's continued use of cash collateral
will be held on February 22, 2017 at 10:00 a.m.

A full-text copy of the Second Interim Order, dated December 22,
2016, is available at http://tinyurl.com/j7bz4jp

            About Bara Holdings 23 East

Bara Holdings 23 East LLC is an Illinois limited liability company
that was established in 2010.  It is engaged in the business of
operating an Italian restaurant and bar located at 23 East Jackson
Blvd., Chicago, Illinois, which opened in 2011.

Bara Holdings 23 East LLC filed a Chapter 11 petition (Bankr. N.D.
Ill. Case No. 16-30069) on September 21, 2016.  The petition was
signed by Matthew T. Aiyash, manager.  The Debtor is represented by
Karen J. Porter, Esq., at Porter Law Network.  The Debtor estimated
assets at $0 to $50,000 and liabilities at $100,000 to $500,000 at
the time of the filing.

The Debtor will continue to manage its business and property as a
debtor-in-possession of the Italian restaurant and bar, and to
reorganize its financial affairs.  No trustee or creditors
committee has been appointed by the court.

The Debtor filed two previous Chapter 11 cases.  The first case,
Case No. 12-33535, was filed on Aug. 23, 2012, and was dismissed on
March 11, 2013.  The second case, Case No. 13-26593, was filed on
June 28, 2013, and closed on April 23, 2014, after the confirmation
of a 100% repayment plan and the entry of a final decree.


BASIC ENERGY: NYSE Removes Old Common Stock from Listing
--------------------------------------------------------
The New York Stock Exchange notified the Securities and Exchange
Commission of its intention to remove the entire class of old
common stock of Basic Energy Services, Inc., from listing and
registration on the Exchange at the opening of business on January
9, 2017, pursuant to the provisions of Rule 12d2-2 (a). [ X ] 17
CFR 240.12d2-2(a)(3)

On December 23, 2016, the instruments representing the securities
comprising the entire class of this security came to evidence, by
operation of law or otherwise, other securities in substitution
therefore and represent no other right except, if such be the fact,
the right to receive an immediate cash payment. Basic Energy
Services, Inc. emerged from Bankruptcy on December 23, 2016. As a
result, pre-petition stockholders received a total of 75,000 New
Common Shares (equivalent to an approximate 1-for-570.093480
reverse stock split of 'Old' Common Stock) and Warrants to purchase
2,066,598 'New Common Shares' (approximately 1 Warrant for each
20.689564 Old Common Stock).

The NYSE filed a Form 25 solely in connection with the
discontinuation of the trading on the NYSE of the 'Old' Common
Stock and does not affect the continued listing on the NYSE of the
'New' Common Stock. The Exchange also notifies the Securities and
Exchange Commission that as a result of the above indicated
conditions this security was suspended from trading on December 27,
2016.

                   About Basic Energy Services

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

essential to maintaining production from oil and gas wells.  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 were assigned to Judge Kevin J. Carey.
Together with the bankruptcy petition, the Debtors 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 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. were 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, were
Theodore Sica, Esq., and Nicholas B. Vislocky, Esq., at Lowenstein
Sandler LLP.  A consortium of lenders led by U.S. Bank extended 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 were 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, consisted 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 were Fried, Frank, Harris, Shriver &
Jacobson LLP's Brad Eric Scheler, Esq., and Peter Siroka, Esq.;
and
Michael D. DeBaecke, Esq., at Blank Rome LLP.

                         *     *     *

The Debtors emerged from their Chapter 11 Cases on Dec. 23, 2016.
The Bankruptcy Court for the District of Delaware entered an order
approving their First Amended Joint Prepackaged Chapter 11 Plan on
Dec. 9.

Through its Prepackaged Plan, Basic equitized over $800 million of
unsecured debt, including accrued interest, eliminated over $60
million in annual cash interest, and raised $125 million of new
capital. Existing shareholders of record as of the close of
trading
on December 23, 2016 will receive new common stock and warrants in
the reorganized Company. The Company believes that its
substantially deleveraged balance sheet and capital infusion
position Basic for long-term success for the benefit of all of its
stakeholders.


BEEBE DIVERSIFIED:  Asks  Court to Authorize Continued Cash Use
---------------------------------------------------------------
Beebe Diversified Limited Partnership seeks authority from the U.S.
Bankruptcy Court for the Eastern District of California to continue
to use cash collateral to pay expenses incurred in connection with
the administration of its estate for the period January 10, 2017
through February 28, 2017.

The Debtor's cash and receivables were encumbered by only one lien,
consisting of a judgment lien in favor of Operating Engineers'
Health and Welfare Trust Fund for Northern California and related
entities.

The Debtor seeks to gather and liquidate its assets and to collect
amounts owed to it from various construction projects it has been
working on, as it has billed its customers for such work performed.
The Debtor tells the Court that it has opened a DIP Account for
the purpose of holding such funds collected from its outstanding
receivables, and such funds remain there today.   

The Court had previously authorized the Debtor's use of cash
collateral through the end of November 2016.  The Court, however,
denied the Debtor's request for continued use of cash collateral
for the month of December 2016.

The Debtor tells the Court that it ceased using cash collateral as
of December 1, 2016 and paid its employees for services rendered up
through the end of November 2016.  The Debtor further tells the
Court that a leakage at the Debtor's Northridge Mall project and
Folsom project forced the Debtor to incur some additional on-site
labor expenses on December 8 and December 9, respectively.  The
Debtor adds that these events caused its project manager to
dispatch workers to the site to conduct emergency evacuation and
corrective works as a matter of public safety.  The Debtor says
that it needs to use cash collateral to pay for the labor expenses.


The Debtor also proposes to use cash collateral in January and
February to pay payroll taxes that remained unpaid when the
Debtor's operations ceased in November 2016.  

The Debtor further seeks authority to use cash collateral to pay
expenses associated with the liquidation of its assets and
collection of its receivables since the Debtor believes that its
current management can collect amounts due to the Debtor more
quickly and cost-effectively than a bankruptcy trustee.   

The Debtor proposes to grant Creditors holding properly perfected
security interests in its vehicles and equipment relief from the
automatic stay where it is evident that equity is lacking.

A hearing on the Debtor's request will be held on January 10, 2017
at 10:30 a.m.

A full-text copy of the Debtor's Motion, dated December 22, 2016,
is available at https://is.gd/wNIAxy

            About Beebe Diversified

Beebe Diversified Limited Partnership filed a Chapter 11 petition
(Bankr. E.D. Cal. Case No. 16-25618), on Aug. 25, 2016.  The
petition was signed by Elizabeth Beebe, general partner.  The case
is assigned to Judge Christopher M. Klein.  The Debtor's counsel is
Anthony Asebedo, Esq. at Meegan, Hanschu & Kassenbrock.

At the time of filing, the Debtor estimated assets at $1 million to
$10 million and liabilities at $1 million to $10 million.  A copy
of the Debtor's list of 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/caeb16-25618.pdf   

Tracy Hope Davis, the U.S. Trustee for Region 17, on Oct. 5
appointed three creditors of Beebe Diversified Limited Partnership
to serve on the official committee of unsecured creditors.  The
committee members are: (1) Pape' Material Handling, Inc. dba Pape'
Rents; (2) Sara J. Stripe; and (3) Chad Wilson of Lanak & Hanna,
P.C.  The Committee retained Gregory J. Hughes, Esq. and
Christopher D. Hughes, Esq., at Hughes Law Corporation as counsel.


BELK INC: S&P Lowers CCR to 'B' on Weak Operating Performance
-------------------------------------------------------------
S&P Global Ratings lowered its corporate credit rating on the
Charlotte, N.C.-based regional department store operator Belk Inc.
to 'B' from 'B+'.  The outlook is stable.

At the same time, S&P lowered the issue-level rating on the
company's first-lien term loan facility to 'B' from 'B+'.  S&P's
'3' recovery rating on the term loan facility reflects its
expectation for meaningful recovery in the event of default or
bankruptcy, at the low end of the 50% to 70% range.

"The downgrade reflects the erosion of credit protection measures
primarily because of the weaker-than-expected operating performance
in the third quarter of the fiscal year and an unexpected dividend
to the financial sponsor," said credit analyst Mathew Christy.  "We
believe the department store industry remains challenged in this
highly competitive environment, characterized by uneven customer
traffic trends, high levels of promotional activity, and lower
operating margins.  Although we believe Belk can maintain
relatively stable performance, via effective merchandising and
product offering for its regional customers, we project that credit
metrics will remain weak, including leverage elevated above 5x for
the next twelve months."

The stable rating outlook reflects S&P's belief that Belk Inc. will
maintain relative stable performance and credit metrics improve
somewhat in the next several quarters.  Although leverage weakened
in the third quarter of 2016, S&P forecasts higher EBITDA and the
reduction of debt will lead to leverage in the 6x range for current
fiscal year and to the mid- to low-5x range at the end of the next
fiscal year ending January 2018.  S&P's projections include the use
of free cash flow to reduce debt leverage.

S&P could lower its ratings if operating performance falls below
its expectations such that comparable-store sales continue to
decline at a low-single-digit pace while sales deleverage and
increased merchandise promotionally activity leads to EBITDA
margins contracting by 100 basis points or more versus S&P's
forecast.  This scenario would likely lead S&P to conclude that
company's competitive standing has weakened and would likely result
in S&P's reassessment of the company's business risk.

Although unlikely in the next year, S&P could raise the ratings if
the company improves credit metrics meaningfully faster than S&P's
base-case forecast.  Under such a scenario, comparable-store sales
would consistently increase at a low-single-digit rate and margins
would improve more than 100 basis points as compared to S&P's
forecasts, leading to debt leverage sustaining below the 5x range.
This scenario would coincide with a more positive view of the
company's financial policy and S&P's belief that the risk of
re-leveraging as low.


BERTELLI REALTY: Seeks Court Approval to Use Cash Collateral
------------------------------------------------------------
Bertelli Realty Group, Inc., asks the U.S. Bankruptcy Court for the
District of Massachusetts for authorization to use cash collateral,
consisting of rentals.

The Debtor owns real estate at 935 - 979 Main Street, Springfield,
Massachusetts, known as the Main Street Property, which is a
commercial property.

Lorenzo Bliss Realty Trust, or LBRT, holds a first mortgage on the
Main Street Property.  LBRT had taken adverse actions against the
Debtor, which include a pending foreclosure sale on the Main Street
Property.

Anthony Carnevale, LBRT's principal, holds a second mortgage on the
Main Street Property.

The Debtor contends that there may be real estate taxes owed on the
Main Street Property.

The Debtor relates that the first mortgage is listed in its
schedules as owed $500,000, and the second mortgage is listed in
the amount of $70,000, but are listed as unliquidated and disputed.
The Debtor further relates that prior to the Chapter 11 filing, a
complaint was filed alleging 93A and other related violations,
which will be continued either in the state court or in the
Bankruptcy Court.  The Debtor adds that taxes are listed in an
unknown amount.

The Debtor tells the Court that it is scheduled to receive rent of
$1,625 per month for the rental of its parking facilities from the
Davenport Advisors, which the Debtor understands is an affiliate of
the MGM Resorts International or related to the entities providing
construction services for the MGM casino presently
being constructed.

The Debtor proposes to pay insurance, taxes, and to maintain the
Main Street Property, in order to provide adequate protection to
the secured creditors of the Main Street Property.

The Debtor asks the Court for authority to use any remaining
rentals received in the management of its assets, to the extent
that rentals increase at any time or there are excess funds.   The
Debtor says that to the extent that there are any shortfalls, the
Debtor's principal will advance the necessary funds for the Debtor
to maintain its operations and payments.

The Debtor relates that upon a resolution of the validity of the
mortgages, it will commence payment in the amount equal to the
interest rate in the mortgage documents or as determined by the
Court.

The Debtor tells the Court that in the interim, it is considering
the sale of the Main Street Property, at an amount that at least
approaches the fair market value of the appraisal, or plans that
will permit equity infusion or loans that will permit the Debtor to
fully develop the Main Street Property.  The Debtor further tells
the Court that although substantial funds have been expended to
improve and renovate the property, additional funds need to be
expended.  The Debtor adds that if successfully renovated, it has
received interest that would realize approximately $25,000 in rent,
most of which is triple rent.

The Debtor relates that it has not received the rent of $1,625 from
Davenport, in part because Davenport was contacted by the mortgage
holders, prior to the Commencement Date, and the mortgage holders
requested that the rent be paid to them.  The Debtor further
relates that it understands that Davenport Advisors is holding
these and future payments until it receives definitive instructions
from all parties or the Court.

A full-text copy of the Debtor's Motion, dated Dec. 26, 2016, is
available at
http://bankrupt.com/misc/BertelliRealty2016_1631081_7.pdf

Lorenzo Bliss Realty Trust can be reached at:

          LORENZO BLISS REALTY TRUST
          11 Falcon Heights Road
          Wilbraham, MA 01095

Anthony Carnevale can be reached at:

          ANTHONY CARNEVALE
          11 Falcon Heights Road
          Wilbraham, MA 01095

                 About Bertelli Realty Group

Bertelli Realty Group, Inc., filed a chapter 11 petition (Bankr. D.
Mass. Case No. 16-31081) on December 21, 2016.  The petition was
signed by Brent J. Bertelli, president.  The Debtor is represented
by Louis S. Robin, Esq., at the Law Offices of Louis S. Robin.  The
Debtor disclosed total assets at $1.80 million and total
liabilities at $585,088.


BIG APPLE CIRCUS: Plans February Auction for IP, Equipment
----------------------------------------------------------
Jonathan Randles, writing for The Wall Street Journal Pro
Bankruptcy, reported that Big Apple Circus is planning a February
bankruptcy auction for the right to acquire its copyrights,
trademarks and other intellectual property and circus equipment,
big top tent included.

According to the report, the bidding procedure will need to be
approved by a bankruptcy judge.

Though the future of the Big Apple Circus remains uncertain, an
auction may be the initial step toward resurrecting the show for
2017 and beyond, the report said.  Circus Executive Director Will
Maitland Weiss told the Journal that he's optimistic the circus
will carry on under a new owner, adding that several parties have
expressed interest in purchasing the circus's assets.

"I'm very optimistic that it's going to be a win-win," Mr. Weiss
further told the Journal.  "To be able to come up and tell the
public that Big Apple Circus is back is a huge advantage. There are
people in the industry who know this."

Potential bidders have already contacted Lincoln Center, circus
lawyer Chris Updike told the Journal.  Any buyer that acquires the
Big Apple Circus will need a new contract to perform at Lincoln
Center, Mr. Updike said, the report related.

Separately, Big Apple Circus has sought to sell its property in
Walden, N.Y., the report related.  The circus has said in court
papers that it has a $2.5 million offer from the fine arts foundry
that makes the Oscar statuettes handed out at the Academy Awards,
the report said.

Court hearings on the proposed auction timelines are scheduled for
January, the report added.

                   About The Big Apple Circus

Founded in 1977 by Paul Binder and Michael Christensen, The Big
Apple Circus, Ltd., is a Type B not-for-profit corporation
performing circus and school for the instruction and artistic
development of circus arts.  The Big Apple Circus, Ltd. filed a
chapter 11 petition (Bankr. S.D.N.Y. Case No. 16-13297) on Nov.
20,
2016.  The petition was signed by Will Maitland Weiss, executive
director.  The Debtor is represented by Natasha M. Labovitz, Esq.
and Christopher Updike, Esq., at Debevoise & Plimpton LLP.  The
Debtor estimated assets and liabilities at $1 million to $10
million at the time of the filing.

William Harrington, U.S. trustee for Region 2, on Dec. 12
appointed
three creditors of The Big Apple Circus, Ltd., to serve on the
official committee of unsecured creditors.


BIG APPLE CIRCUS: Selling Assets After Season Cancelled
-------------------------------------------------------
The Big Apple Circus, Ltd., asks the Bankruptcy Court to enter an
order (i) approving bidding and auction procedures in connection
with the sale of certain Circus Assets, (ii) authorizing the Circus
to employ and retain Stampler Auctions as auctioneer and (iii)
scheduling an auction and sale approval hearing.

The Circus has faced significant financial distress during recent
years. In response, the Circus aggressively cut operating costs
wherever possible, reduced its performance schedule, and actively
sought donor contributions most recently through the "Save the
Circus" campaign mounted this summer. However, despite receiving
donations from over 1,400 donors as well as continued financial
support of the Circus' officers and directors, the Circus was
ultimately unable to raise sufficient funds.  In July, the
Circus made the difficult decision to cancel the 2016-17
performance season and release the Circus' artists and production
crew.

Specifically, in light the cancellation of the Circus' performance
season, the Circus will sell its circus equipment and other related
personal and intellectual property associated with the Circus'
performance unit (the "Circus Assets"), which are no longer
necessary to support the Circus' mission or operations, with hopes
of preserving an operating enterprise that will once again perform
shows in New York City in upcoming seasons.

Most of the physical Circus Assets are located at the Circus' owned
real property located at 39 Edmunds Lane, Walden, New York 12586
(the "Walden Property") that the Circus has historically used as a
storage and training facility.  On Dec. 9, 2016, the Circus filed a
motion with the Court seeking entry of an order approving the sale
of the Walden Property, which is scheduled to be heard on January
11, 2017.

                            Circus Assets

The Circus seeks to sell the Circus Assets, comprised of a wide
variety of items, ranging from the Circus' big top tent, acrobat
platforms, and vehicles used to put on the shows, to the toys and
memorabilia made available to the Circus' loyal fans over the
years.  The Circus Assets also include the Circus' various
copyrights, trademarks and other intellectual property.

Accordingly, a purchaser of substantially all of the Circus Assets
would have the brand and equipment to restart the circus as an
operating enterprise as soon as fall 2017.

The Circus Assets to be sold expressly exclude certain vehicles and
auxiliary tent equipment identified on the list of Circus Assets as
"Excluded Items" in which the New York City Department of Cultural
(the "DCLA") asserts either a lien or ownership interest.  However,
the DCLA has indicated that it may consider consenting to the
transfer of these excluded items to a successful purchaser of all
or substantially all of the Circus Assets who intends to restart
performances in New York City.

                    Proposed Bidding Procedures

Over recent months, the Circus has been contacted by several
parties interested in purchasing all or substantially all of the
Circus Assets, some of whom have already submitted sale proposals
and conducted diligence. Accordingly, to obtain the highest or
otherwise best bid(s) for the Circus Assets and provide an
opportunity to preserve the Circus' performance enterprise, the
Circus intends to implement the Bidding Procedures, which establish
a two-stage bidding process.

During the first phase, the Circus and its auctioneer, Stampler,
will solicit bids for the purchase of substantially all of the
Circus Assets, conduct an auction for such bids (the "Phase I
Auction") if the Circus receives two or more Qualified Bids (as
defined below), and then seek entry of the Sale Order, after notice
and hearing (the "Sale Approval Hearing"), approving the sale of
substantially all of the Circus Assets to the Successful Bidder(s).
During the second phase, any Circus Assets not purchased through
the Phase I Auction shall be sold through a subsequent public
auction (the "Phase II Auction" and together with the Phase I
Auction, the "Auctions") in a manner and at a time and place to be
determined by the Circus, in consultation with Stampler.

The Bidding Procedures contemplate an expeditious and targeted
marketing and sale process, which the Circus believes is critical
to maximizing the value of the Circus Assets. The aggregate value
of the Circus Assets is directly correlated with the ability of
prospective buyers of the enterprise to begin performances during
fall 2017. If the sale of the Circus Assets cannot be closed so
that a Successful Bidder can (a) contract with Lincoln Center
and/or other performance venues for 2017-2018 and beyond, (b) hire
the necessary artists and production crew, and (c) begin design and
rehearsal in advance of a fall re-opening, prospective bidders may
offer less consideration, or worse, refuse to participate.

Accordingly, in order to efficiently and effectively identify the
parties most like to be bona fide bidders for the Circus Assets in
whole, the Circus, through Stampler, will simultaneously mine its
extensive industry contacts while building upon the considerable
media attention already received from the "Save the Circus"
campaign and commencement of this bankruptcy case by also marketing
the sale on specific online trade publications, telemarketing,
e-marketing, social networking, a dedicated webpage, and/or other
advance auction promotion.

Furthermore, the sale of the Walden Property is expected to close
soon, which will require that the Circus Assets be removed either
through a sale or by paying to have them transferred and stored at
an alternative facility. Clearly, time is of the essence. Thus, the
proposed sale process balances the need to provide adequate and
appropriate notice to parties in interest and potential purchasers
with the need to efficiently and effectively sell the Circus Assets
while they have higher realizable enterprise value.

The proposed Bidding Procedures provide:

   -- Bid Deadline. Any entity wanting to participate in the Phase
I Auction (a "Potential Bidder") must submit a Qualified Bid (as
defined below) in writing so as to be actually received on or
before Feb. 3 at 5:00 p.m. (Eastern Time) (the "Bid Deadline"),
which deadline may be extended by the Circus, in consultation with
Stampler and the Creditors' Committee. No bids submitted after the
Bid Deadline shall be considered by the Circus.

   -- The Phase I Auction. If two or more Qualified Bids are
received on or before the Bid Deadline, the Circus will conduct the
Phase I Auction commencing on February 7, 2017 at 11:00 a.m.
(Eastern Time), at the offices of Debevoise & Plimpton LLP, 919
Third Avenue, New York, New York 10022, to determine the highest or
otherwise best bid for the Assets (the "Successful Bid"). The Phase
I Auction may be adjourned or rescheduled without further notice by
an announcement of the adjourned date at the Phase I Auction. The
Circus, in consultation with the Creditors' Committee, reserves the
right to cancel the Phase I Auction.

   -- Sale Approval Hearing.  The sale of the Assets and applicable
Asset Purchase Agreement will be presented for authorization and
approval by the Bankruptcy Court at the Sale Approval Hearing,
which the Circus has requested be scheduled for February 14, 2017
at 10:00 a.m. (Eastern Time) at the United States Bankruptcy Court
for the Southern District of New York, One Bowling Green, Room 701,
New York, New York 10004, before the Honorable Sean H. Lane, United
States Bankruptcy Judge.  The Sale Approval Hearing may be
adjourned or rescheduled without further notice by an announcement
of the adjourned date at the Sale Approval Hearing.

   -- Phase II Auction. Following the consummation of the sale of
the Circus Assets to the Successful Bidder or cancellation of the
Phase I Auction, Stampler will conduct the Phase II Auction, which
shall be an online public auction, for any remaining unsold Circus
Assets. No later than 21 days after the last sale of the Circus
Assets is closed, Stampler will provide the Circus with a report of
such sale(s) (the "Sale Report"), which Sale Report will be filed
with the Court and served on the United States Trustee, the
Creditors' Committee, and any other parties requesting notice
pursuant to Bankruptcy Rule 2002.  The Sale Report will include:
(a) the time, date, and place of each sale; (b) the gross dollar
amount of each sale; (c) if the Assets were sold in lots, a
description of the items in each lot, and any bulk bids received;
(d) an itemized statement of Stampler's expenditures,
disbursements, and commissions; (e) the names and addresses (to
include city, state, country, and zip code) of all purchasers; (f)
the approximate number of people attending the sale; (g) the items
for which there were no bids and the disposition of those items;
(h) a statement of the manner and extent of advertising of the
sale; (i) a statement of the manner and extent of the availability
of the Assets for inspection; and (j) any other information that
the United States Trustee may request.

A full-text copy of the Motion is available at:

   http://bankrupt.com/misc/nysb16-13297_59_Sale_M_Big_Apple.pdf

                 About The Big Apple Circus, Ltd.

The Big Apple Circus, Ltd. is a Type B not-for-profit corporation
organized under section 201 of the New York Not-for-Profit
Corporation Law that is exempt from federal taxes under section
501(c)(3) of the Internal Revenue Service Code.  Founded in 1977 by
Paul Binder and Michael Christensen to establish a performing
circus and school for the instruction and artistic development of
circus arts, the Big Apple Circus is a venerated, New York cultural
institution renowned for its critically-acclaimed performances and
dedicated community programs.  The Circus' home base is in New York
City's Lincoln Center.

The Big Apple Circus, Ltd., filed a chapter 11 petition (Bankr.
S.D.N.Y. Case No. 16-13297) on Nov. 20, 2016.  The petition was
signed by Will Maitland Weiss, executive director.  The Debtor
estimated assets and liabilities at $1 million to $10 million at
the time of the filing.

The Debtor is represented by Natasha M. Labovitz, Esq. and
Christopher Updike, Esq., at Debevoise & Plimpton LLP.  

On Dec. 12, 2016, the Office of the United States Trustee for the
Southern District of New York appointed an official committee of
unsecured creditors.  No request for the appointment of a trustee
or examiner has been made in this chapter 11 case.


BMC SOFTWARE: S&P Revises Outlook to Stable & Affirms 'B' CCR
-------------------------------------------------------------
S&P Global Ratings said it revised its rating outlook on
Houston-based BMC Software Inc. to stable from negative.  At the
same time, S&P affirmed its ratings on the company, including the
'B' corporate credit rating.

"The outlook revision to stable is primarily based on the decline
of leverage to 9.7x in the most recent quarter, down from over 11x
for the year ago period," said S&P Global Ratings credit analyst
James Thomas.

This improvement in BMC's financial metrics comes from both the
repurchase of approximately $150 million of the company's holding
company PIK notes and a 350 basis point improvement in EBITDA
margins as a result of the firm's restructuring efforts.  Although
S&P believes that BMC's credit profile has improved over the past
year and expect further improvement from margin expansion and
stabilizing revenues, S&P has lowered its assessment of the firm's
business risk profile to fair from satisfactory as a rapidly
shifting technology landscape, market share losses in the IT
service management (ITSM) software market, and ongoing declines of
the role of mainframe computing in the corporate IT environment
have materially increased uncertainty around BMC's future operating
performance.

The stable outlook on BMC reflects the firm's progress in growing
EBITDA margins and repaying debt in spite of ongoing revenue
weakness.  S&P expects BMC to continue to reduce leverage over the
next year as growing renewal bookings support stronger cash flow
generation and enable the firm to continue to reduce debt.


BRADFORD, PA: S&P Lowers Underlying Rating on GO Debt to 'BB+'
--------------------------------------------------------------
S&P Global Ratings has corrected by lowering its underlying rating
(SPUR) to 'BB+' with a stable outlook from 'BBB+' on CreditWatch
Negative on Bradford, Pa.'s general obligation (GO) debt.

Due to an analytical error related to S&P's assessment of the
available governmental funds, it incorrectly calculated available
unrestricted funds to pay the bonds.  In addition, S&P analyzed
state-reviewed financial statements when it should have analyzed
audited financial statements.  In S&P's two prior reviews, it did
not exclude unspent bond funds or other restricted funds, including
the State Liquid Fuels Highway Aid Fund, endowment funds, and grant
funding from the Office of Economic and Community Development when
calculating available unrestricted funds when S&P should have.
This treatment of the available general fund resulted in inflated
available cash levels of approximately
$2 million.  After correcting our calculation of unrestricted
funds, available fund levels are closer to $300,000.  This weak
liquidity constrains the rating and S&P considers those levels
aligned with a 'BB+' rating rather than a 'BBB+' rating.

The stable outlook reflects S&P's opinion that in the next two
years, Bradford will maintain low levels of unrestricted reserves,
and although it will improve modestly over time, it is unlikely to
affect the rating in the two-year outlook period.  S&P expects
financial performance will improve moderately and that economic
indicators will remain stable or weaken slightly.


BROADCOM LTD: S&P Raises Corp. Credit Rating From BB+
-----------------------------------------------------
S&P Global Ratings said it raised its corporate credit rating on
Singapore-based Broadcom Ltd. to 'BBB-' from 'BB+'.  The outlook is
stable.

At the same time, S&P affirmed the 'BBB-'issue level ratings on the
company's secured debt and the 'BB+' issue level ratings on the
unsecured notes.  S&P is withdrawing the recovery ratings in
accordance with its methodology for investment-grade ratings.

"We base our upgrade on the expectation that Broadcom's clearly
defined financial policy will provide sufficient support for its
shareholder remuneration and strategic growth objectives while
operating within a 2x-3x leverage range," said S&P Global Ratings
credit analyst Jenny Chang.

The upgrade also reflects the company's large scale, overall solid
competitive position within wireless and other industrial
semiconductor markets.  Over the past several years, the company
has efficiently integrated large scale acquisitions and rapidly
reduced debt balances incurred.  S&P expects the recently announced
acquisition of Brocade will not materially alter credit measures
and only modestly increase leverage to the mid-2x area at close
from about 2x currently.  Although S&P believes the company will
continue to assess a range of merger and acquisition (M&A)
opportunities that meet its articulated criteria, S&P expects the
company will adhere to its stated financial policy and fund those
initiatives without diminishing overall credit quality.
Additionally, given favorable growth prospects across business
segments, its considerable scale and cost discipline, S&P believes
Broadcom will continue to drive operating efficiency and strengthen
its balance sheet.

The stable outlook reflects S&P's expectation that Broadcom will
manage future capital allocation in a manner consistent with its
stated financial policy and maintain leverage under 3x, supported
by its strong market positions, favorable operating trends and
considerable free cash flow generation.


CASA MEDIA: Asks Court to Move Plan Exclusivity Period to March 27
------------------------------------------------------------------
Casa Media Partners, LLC and Casa en Denver, Inc. request the U.S.
Bankruptcy Court for the Southern District of Florida to extend the
exclusive time periods within which only the Debtors may file a
plan and solicit acceptances of a Plan of Reorganization through
March 27, 2017 and May 26, 2017, respectively.

The Debtors relate that they have continuously been involved in
substantive settlement discussions with the Bank of Commerce, which
discussions stemmed from an in-person settlement conference held
between the Parties on July 9, 2015, in New York, NY, and numerous
additional discussions following that meeting, culminating in a
mediation between the Parties that has led to a proposed resolution
that the Parties are in the process of jointly drafting for review
and approval by the Court.

Accordingly, the Debtors request an additional extension of their
exclusivity periods as the outcome of the settlement discussions
between the Parties may impact the terms of the Debtors' proposed
plan.

                                 About Casa Media

Casa Media Partners, LLC, and Casa en Denver, Inc., commenced
Chapter 11 bankruptcy cases (Bankr. S.D. Fla. Case Nos. 15-16741
and 15-16746) in Miami, Florida on April 15, 2015.  The petition
was signed by Juan Salvador Gonzalez, the chief financial officer.
Judge Hon. Robert A Mark presides over the cases.  The Debtors are
represented by Kristopher Aungst, Esq., at Tripp Scott, P.A.


CASCELLA & SON: Has Until Feb. 28 to Use Cash Collateral
--------------------------------------------------------
Judge Julie A. Manning of the U.S. Bankruptcy Court for the
District of Connecticut authorized Cascella & Son Construction,
Inc. to use the cash collateral until February 28, 2017.

The Debtor is indebted to Hudson Bank n/k/a TD Bank in the amount
of $250,000, and to New Alliance Bank n/k/a First Niagra Bank in
the amount of $230,000.

The Internal Revenue Service and the Town of Monroe also claim
liens on the Debtor's assets by virtue of tax liens.

The Debtor related that substantially all of its revenue is derived
from contracts and receivables obtained from operating a quarry
operation.

The Debtor represented that it had an immediate and continuing need
for the use of the prepetition collateral and its proceeds
constituting cash collateral in order to continue the operation of,
and avoid immediate and irreparable harm to its business, and to
maintain and preserve the going concern value.  The Debtor
contended that without the ability to use the prepetition
collateral and the cash collateral, it would be unable to pay
ongoing management, payroll, raw material, insurance, utilities and
other necessary expenses related to the continued operation of the
Debtor's business, to generate cash flow, and to maintain the value
of the Debtor's assets.

The approved Budget provided for total expenses in the amount of
$11,815 for each of the months of January 2017 and February 2017.

TD Bank, First Niagra Bank, the IRS and the Town of Monroe were
granted post-petition claims against the Debtor's estate, which
will have priority in payment over any other indebtedness and/or
obligations, and over all administrative expenses or charges
against property, subject to the Carve-Out.

TD Bank, First Niagra Bank, the IRS, and the Town of Monroe were
further granted an enforceable and perfected replacement lien
and/or security interest in the post-petition assets of the
Debtor's estate equivalent in nature, priority and extent to their
respective liens and/or security interest in the pre-petition
collateral and their proceeds and products, subject to the
Carve-Out.

The Carve-Out consists of:

     (1) the allowed administrative claims of attorneys and other
professionals retained by the Debtor in the case, in the aggregate
amount of $30,000;

     (2) amounts payable pursuant to 28 U.S.C. Section 1930(a)(6).

A further hearing on the continued use of cash collateral is
scheduled on Feb. 21, 2017 at 10:00 a.m.  The deadline for the
filing of objections to the continued use of cash collateral is set
on Feb. 16, 2017 at 5:00 p.m.

A full-text copy of the Order, dated Dec. 23, 2016, is available at

http://bankrupt.com/misc/Cascella&Son2014_1450518_230.pdf

A full-text copy of the approved Budget, dated Dec. 23, 2016, is
available at
http://bankrupt.com/misc/Cascella&Son2014_1450518_230_1.pdf

                About Cascella & Son Construction

Cascella & Son Construction, Inc., filed a chapter 11 petition
(Bankr. D. Conn. Case No. 14-50518) on April 7, 2014.  The petition
was signed by Todd Michael Cascella, president.  The Debtor is
represented by James M. Nugent, Esq., at Harlow, Adams, and
Friedman.  The case is assigned to Judge Alan H.W. Shiff.  The
Debtor disclosed $0 in assets and $3.48 million in liabilities at
the time of the filing.


CDR STRAINERS: Seeks Court Approval for Continued Cash Use
----------------------------------------------------------
CDR Strainers & Filters, Inc., asks the U.S. Bankruptcy Court for
the Southern District of Texas for authorization to continue using
the cash collateral of Allegiance Bank, Can Capital, Austin County
Appraisal District, and the Internal Revenue Service.

The Debtor was previously authorized by the Court to use cash
collateral through the end of December 2016.  In exchange for the
use of the Secured Creditors' cash collateral, the Debtor provided
the Secured Creditors with post-petition replacement liens and a
superpriority claim under 11 U.S.C. Section 507(b).

The Debtor contends that it needs the continued use of cash
collateral from the Secured Creditors in order to maintain day to
day operations and that it will be unable to reorganize unless it
is permitted to use cash collateral.

The Debtor's proposed Budget provides for total expenses in the
amount of $141,550 for each of the months from January 2017 through
April 2017.  The Budget also provides for monthly debt repayment
expense in the amount of $8,900.

As adequate protection for the diminution in value of cash
collateral, the Debtor will:

     (1) provide an existing equity cushion;

     (2) maintain the value of its business as a going-concern;

     (3) provide replacement liens upon currently-owned and
after-acquired cash to the extent of any diminution in the value of
cash collateral; and

     (4) provide super-priority administrative claims to the extent
of any diminution of value of cash collateral.

A full-text copy of the Debtor's Motion, dated Dec. 23, 2016, is
available at
http://bankrupt.com/misc/CDRStrainers2016_1631997_133.pdf

A full-text copy of the Debtor's proposed Budget, dated Dec. 23,
2016, is available at
http://bankrupt.com/misc/CDRStrainers2016_1631997_133_2.pdf

Allegiance Bank can be reached at:

          ALLEGIANCE BANK
          c/o Ross, Banks, May, Cron & Cavin, P.C.
          7700 San Felipe, Suite 550
          Houston, TX 77063

Can Capital can be reached at:

          CAN CAPITAL
          c/o Terri Hallman
          2015 Vaughn Rd, Building 500
          Kennesaw, GA 30144

               About CDR Strainers & Filters

CDR Strainers & Filters, Inc., sought protection under Chapter 11
of the Bankruptcy Code (Bankr. S.D. Tex. Case No. 16-31997) on
April 18, 2016.  The petition was signed by Blanca Croson,
president.  The Debtor estimated assets at $0 to $50,000 and
liabilities at $500,001 to $1 million at the time of the filing.

The Debtor is represented by Susan Tran, Esq., at Corral Tran Singh
LLP.  

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


CENTRAL IOWA: Court Sets Jan. 13 Final Cash Collateral Hearing
--------------------------------------------------------------
Judge Anita L. Shodeen of the U.S. Bankruptcy Court for the
Southern District of Iowa authorized Central Iowa Healthcare to use
cash collateral on an interim basis.

A final hearing on the use of cash collateral is scheduled on
January 13, 2017.

A full-text copy of the Order, dated December 22, 2016, is
available at http://tinyurl.com/hxz8skc


           About Central Iowa Healthcare

Central Iowa Healthcare, formerly doing business as Marshalltown
Medical Surgical Center, is a not-for-profit corporation formed
under the laws of the State of Iowa, and is tax exempt pursuant to
section 501(c)(3) of the Internal Revenue Code.  CIH is governed by
a 14-member Board of Trustees of which two members serve on an
ex-officio basis.  

CIH operates a community hospital in Marshalltown, Iowa, which is
located between Des Moines and Cedar Rapids.  CIH's 49-bed, acute
care facility is the only fullservice medical center in the area.
CIH provides inpatient, outpatient, emergency care, and medical
clinic services for the residents of Marshall, Tama, and Grundy
counties. These counties combined have a population of over 60,000
and are home to several large companies that are significant local
employers. CIH is the sixth largest employer in Marshalltown.
According to U.S. Census 2015 data, Marshalltown's population is
estimated at 27,620 and a median income of $50,396.

Declining revenues over the past several years have placed a
considerable financial strain on CIH and led to uncertainty about
the hospital's ability to continue as a going concern.

Central Iowa Healthcare sought Chapter 11 protection (Bankr. S.D.
Iowa Case No. Case No. 16-02438-1) on Dec. 20, 2016.  The Petition
was signed by Dawnett Willis, acting CEO.  The case is assigned to
Judge Anita L. Shodeen.  The Debtor disclosed $81.91 million total
assets and $20.02 million total liabilities.

The Debtor's Reorganization Counsel are Jeffrey .D Goetz, Esq. and
Krystal R. Mikkilineni, Esq. at Bradshaw, Fowler, Proctor &
Fairgrave PC;  Aaron L. Hammer, Esq. and Mark S. Melickian, Esq.,
at Sugar, Felsenthal, Grais & Hammer LLP are the Debtor's Special
Healthcare Reorganization Counsel; and Alvarez & Marsal Healthcare
Industry Group, LLC serves as the Debtor's Financial &
Restructuring Advisors.

The United States Trustee for the Southern appointed Susan N.
Goodman as the Patient Care Ombudsman for Central Iowa Healthcare.


CENTRAL IOWA: U.S. Trustee Forms 5-Member Committee
---------------------------------------------------
Daniel McDermott, the U.S. trustee for Region 12, on Dec. 28
appointed five creditors of Central Iowa Healthcare to serve on the
official committee of unsecured creditors.

The committee members are:

     (1) Alcon Laboratories
         c/o Jim Kiehm
         6500 Will Rogers Blvd.
         Dallas, TX 75267-7775
         Phone: (817) 371-8767
         Email: Jim.kiehm@novartis.com

     (2) Resolution Consulting, Inc.
         c/o Robin Bradbury
         P.O. Box 27093
         Louisville, CO 80027
         Phone: (303) 530-0396
         Email: robin@ereso.com

     (3) Sound Physicians
         c/o Nicholas Cook
         1498 Pacific Ave, Suite 400
         Tacoma, WA 98402
         Phone: (615) 377-1679
         Email: ncook@soundphysicians.com

     (4) Health Enterprises
         c/o Judy Sadler
         5825 Dry Creek Lane NE
         Cedar Rapids, IA 52402
         Phone: (319) 368-3619
         Email: jsadler@healthenterprises.org

     (5) Physiotherapy Associates Select Medical
         c/o Brett Raasch
         4714 Gettysburg Road
         Mechanicsburg, PA 17055
         Phone: (515) 323-6485
         Email: BRaasch@myphysio.com

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

                     About Central Iowa Healthcare

Central Iowa Healthcare, formerly doing business as Marshalltown
Medical Surgical Center, is a not-for-profit corporation formed
under the laws of the State of Iowa, and is tax exempt pursuant to
section 501(c)(3) of the Internal Revenue Code.  CIH is governed by
a 14-member Board of Trustees of which two members serve on an
ex-officio basis.  

CIH operates a community hospital in Marshalltown, Iowa, which is
located between Des Moines and Cedar Rapids.  CIH's 49-bed, acute
care facility is the only fullservice medical center in the area.
CIH provides inpatient, outpatient, emergency care, and medical
clinic services for the residents of Marshall, Tama, and Grundy
counties. These counties combined have a population of over 60,000
and are home to several large companies that are significant local
employers.  CIH is the sixth largest employer in Marshalltown.
According to U.S. Census 2015 data, Marshalltown's population is
estimated at 27,620 and a median income of $50,396.

Declining revenues over the past several years have placed a
considerable financial strain on CIH and led to uncertainty about
the hospital's ability to continue as a going concern.

Central Iowa Healthcare sought Chapter 11 protection (Bankr. S.D.
Iowa Case No. Case No. 16-02438) on Dec. 20, 2016.  The Petition
was signed by Dawnett Willis, acting CEO.  The case is assigned to
Judge Anita L. Shodeen.  The Debtor disclosed $81.91 million total
assets and $20.02 million total liabilities.

The Debtor employs Jeffrey D. Goetz, Esq. and Krystal R.
Mikkilineni, Esq. at Bradshaw, Fowler, Proctor & Fairgrave PC as
reorganization counsel; Aaron L. Hammer, Esq. and Mark S.
Melickian, Esq. at Sugar, Felsenthal, Grais & Hammer LLP as special
healthcare reorganization counsel; Alvarez & Marsal Healthcare
Industry Group, LLC as financial & restructuring advisors.


CENTRAL LAUNDRY: Disclosures OK'd; Plan Hearing on Feb. 8
---------------------------------------------------------
The Hon. Stephen Raslavich of the U.S. Bankruptcy Court for the
Eastern District of Pennsylvania has approved Central Laundry,
Inc.'s disclosure statement dated Oct. 30, 2016, referring to the
Debtor's plan of reorganization.

The hearing to consider the confirmation of the Plan will be held
on Feb. 8, 2017, at 1:30 p.m.

                  About Central Laundry

Central Laundry, Inc., sometimes know and trading as Olympic
Linen,
is duly organized, formed, and existing under the laws of the
Commonwealth of Pennsylvania with its current principal place of
business and executive offices located at 615 Industrial Park
Drive, Lansdowne, Pennsylvania.  The Debtor's primary business
involves operating a commercial laundry and linen service for the
restaurant and hospitality industry.   

The Debtor filed for Chapter 11 bankruptcy protection (Bankr. E.D.
Penn. Case No. 16-10666) on Feb. 1, 2016, estimating its assets and
liabilities at up to $50,000 each.

Paul J. Winterhalter, Esq., at the Law Offices Of Paul J.
Winterhalter, P.C., serves as the Debtor's bankruptcy counsel.


CERRITOS REFERENCE: Unsecured Creditors to Get 50% Under Exit Plan
------------------------------------------------------------------
Unsecured creditors of Cerritos Reference Laboratory, Inc., will
recover half of their claims, according to the company's proposed
plan to exit Chapter 11 protection.

Under the restructuring plan, Class 2 unsecured creditors will get
50% of their claims against the company and will receive a
quarterly payment of $21,878.75.

The total amount of Class 2 unsecured claims allowed by the court
is $350,060.03.

Cerritos believes it has sufficient funds available to pay
creditors based on its statement of projected cash flow for the
duration of the restructuring plan.  Shareholders will also
contribute $25,000 to fund the plan, according to the company's
disclosure statement filed on Dec. 15.

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

    http://bankrupt.com/misc/CerritosReferenceLab_DS12152016.pdf

Judge Sandra Klein of the U.S. Bankruptcy Court for the Central
District of California is set to hold a hearing on Jan. 5 to
consider the company's motion to approve its disclosure statement.


The request, if granted by the court, would allow the company to
begin soliciting votes for its restructuring plan.

Cerritos is represented by:

     Christopher P. Walker, Esq.
     Law Office of Christopher P. Walker, P.C.
     505 S. Villa Real, Suite 103
     Anaheim Hills, CA 92807
     Phone: 714-639-1990
     Fax: 714-637-1636
     Email: cwalker@cpwalkerlaw.com

                    About Cerritos Reference

Cerritos Reference Laboratory, Inc. sought protection under Chapter
11 of the Bankruptcy Code (Bankr. C.D. Cal. Case No. 16-14824) on
April 14, 2016.  The petition was signed by Arturo Pamintuan,
president.  

The case is assigned to Judge Sandra R. Klein.

At the time of the filing, the Debtor estimated assets of less than
$100,000 and liabilities of less than $1 million.


CHARTER HIGH: S&P Lowers Rating on 2013 School Bonds to 'BB'
------------------------------------------------------------
S&P Global Ratings lowered its long-term rating to 'BB' from
'BBB-' on the Philadelphia Authority for Industrial Development,
Pa.'s series 2013 charter school revenue bonds, issued for The
Designing Futures Foundation on behalf of Charter High School for
Architecture & Design (CHAD). The outlook is negative

"The two-notch downgrade and negative outlook reflect our view of
the school's declining enrollment and the volatile state funding
environment, which have contributed to the significant
deterioration in financial performance in fiscal 2015 and the
expectation of further weakening in fiscal 2016," said S&P Global
Ratings credit analyst James Gallardo.  "As a result, we view the
school's financial metrics, as demonstrated by weak maximum annual
debt service coverage, declining liquidity, and limited operating
flexibility, as more consistent with the 'BB' rating level."

S&P further understands that, based on unaudited results shared by
management, CHAD might be in violation of its coverage covenant for
fiscal 2016, which could be considered an event of default, and
that it did violate its liquidity covenant, which requires a
consultant call-in.  Management indicates the school is working
with its auditors, the trustee, bond counsel, and bondholders on a
resolution.  In S&P's opinion, senior management will be able to
resolve its covenant violation and implement a strategy to meet the
school's liquidity requirements in the future.  In S&P's view, if
management is unable to stabilize operations or fails to resolve
any covenant violations, this could result in negative rating
pressure.

At this time, the rating is supported by the school's stable
demand, with a growing wait list, good retention and solid
graduation rates, and capable management team, which has been
proactive in addressing recent challenges.



CIT GROUP: S&P Rates $1.209BB Sr. Unsec. Notes Due 2018 'BB+'
-------------------------------------------------------------
S&P Global Ratings said it assigned its 'BB+' debt rating on CIT
Group Inc.'s (BB+/Stable/B) offering of up to $1.209 billion of
senior unsecured notes due 2018.  The notes are being offered in
exchange for any and all of its outstanding 5.000% senior unsecured
notes due 2017 on a par for par basis.  S&P's ratings on CIT
reflect strong regulatory oversight because of its bank holding
company status, deposit funding that is high relative to nonbank
finance companies, and strong capital adequacy and liquidity.  S&P
sees CIT's business and risk positions as moderate, reflecting its
focus on middle-market finance and assets that are higher risk, in
S&P's view, than a typical bank.

The stable outlook reflects S&P's expectation that CIT will
maintain strong capital adequacy, with a risk-adjusted capital
(RAC) ratio of about 10% or higher; adequate funding and liquidity;
and net charge-offs below 50 bps of gross financing receivables
(including leases).  Subsequent to the sale of its Commercial Air
business, S&P expects deposits to be about 75% of CIT's funding.
S&P could lower the ratings if CIT's capital adequacy deteriorates
and its RAC ratio fell below 10%, or if credit losses exceed our
expectations.  S&P could raise the ratings if CIT demonstrates
further business stability following the sale of its Commercial Air
business with stable revenues, improving profitability, and credit
losses remain within expectations.

RATINGS LIST

CIT Group Inc.
Issuer Credit Rating                  BB+/Stable/B

New Rating
senior unsecured notes due 2018       BB+


CLARK-CUTLER-MCDERMOTT: Can Use Cash Collateral Until Jan. 20
-------------------------------------------------------------
Judge Christopher J. Panos of the U.S. Bankruptcy Court for the
District of Massachusetts authorized Clark-Cutler-McDermott Company
and CCM Automotive Lafayette LLC to continue using cash collateral
through Jan. 20, 2017.

The approved budget provides for total expenditures of $368,998,
from December 30, 2016 through January 20, 2017.

Judge Panos directed the Debtors to file a proposed Budget and form
of Order authorizing the continued use of Cash Collateral,
indicating whether GM and the Creditors Committee consent to entry
of such Order, or a Notice indicating that the parties have been
unable to agree on the terms of a Cash Collateral Order, together
with a proposed Budget and form of Fourth Interim Order.

The Court will hold an evidentiary hearing on January 19, 2017 at
9:00 a.m. in the event that the parties are unable to agree upon
and submit a consensual Budget and form of Fourth Interim Order.
Any supplemental objections to the continued use of Cash Collateral
are required to be filed on January 13, 2017.

A full-text copy of the Bridge Order, dated December 22, 2016, is
available at http://tinyurl.com/jrzeazt

         About Clark-Cutler-McDermott Company

Automobile parts manufacturer Clark-Cutler-McDermott Company and
its subsidiary CCM Automotive Lafayette LLC filed Chapter 11
petitions (Bankr. D. Mass. Case Nos. 16-41188 and 16-41189) on July
7, 2016.  The petitions were signed by James T. McDermott, CEO.
Judge Christopher J. Panos presides over the case.

The Debtors are represented by Charles A. Dale, III, Esq., David
Mawhinney, Esq., and Mackenzie Shea, Esq., at K&L Gates LLP.  The
Debtors tapped Conway MacKenzie Capital Advisors LLC as investment
banker; Sansiveri, Kimball & Co., LLP, as Tax Services Provider.

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

The Official Committee of Unsecured Creditors retained Mintz Levin
Cohn Ferris Glovsky and Popeo, P.C. as counsel to the Committee.


CLINICAL PET: Wants to Use 1st Manatee Bank Cash Collateral
-----------------------------------------------------------
Clinical Pet of Ocala, LLC seeks authorization from the U.S.
Bankruptcy Court for the Middle District of Florida to use cash
collateral.

1st Manatee Bank had entered into a loan agreement with
Neurological and Cardiovascular Imaging Center, LLC, PET
Cardiovascular Imaging, LLC, Radiological Institute of the
Villages, LLC, A&A of Marion County, LLC, G&S of Marion County,
LLC, Clinical PET of Ocala, LLC, Ganesh and Shiwani Arora, secured
by Real estate in both Marion and Sumter Counties and equipment,
inventory, receivable, etc.  As of December 19, 2016, the total
secured indebtedness owed to 1st Manatee Bank was approximately
$4.6 million.

The property in Sumter County, Florida includes two vacant lots,
one owned by G&S of Marion County, LLC and the other owned by A&A
of Marion County, LLC, each lot has value of between $550,000.00
and $650,000.00.  

The Debtor relates that 1st Manatee Bank holds other collateral
sufficient to adequately protect its interest including the
facility where the debtor operates, which is valued at
approximately $1.8 million.

The Debtor further relates that its receivables in the approximate
amount of $195,000 to $250,000 per month is its only income.  The
Debtor is presently holding approximately $1,347 in its
pre-petition bank accounts and has pending receivables totaling
$2,568,667 of which approximately $628,994 are collectible.

The Debtor proposes to make monthly interest-only payments to 1st
Manatee Bank the amount of $15,000.  The Debtor asserts that other
adequate protection is not necessary to protect 1st Manatee Bank's
interest, as it will not be harmed by the use of cash collateral,
but instead, its interest will be adequately protected by a
continuing lien on post petition receivables and other cash
collateral.

A full-text copy of the Debtor's Motion, dated December 22, 2016,
is available at https://is.gd/BG2Q7N


          About Clinical Pet of Ocala, LLC

Clinical Pet of Ocala, LLC filed a Chapter 11 petition (Bankr. M.D.
Fla. Case No. 16-04646), on December 22, 2016.  The Petition was
signed by Ali S. Karim, president.  The Debtor is represented by
Robert Altman, Esq. at Robert Altman, P.A.  At the time of filing,
the Debtor estimated both assets and liabilities at $1 million to
$10 million each.


COLLEGIATE ACADEMY: S&P Affirms 'B+' Rating on 2004 School Bonds
----------------------------------------------------------------
S&P Global Ratings revised its outlook to positive from stable and
affirmed its 'B+' underlying rating for credit program on Colorado
Educational & Cultural Facilities Authority's series 2004 charter
school revenue refunding bonds, supported by Collegiate Academy
Charter School Building Corp. and issued for Collegiate Academy
Charter School (CACS).

"The positive outlook reflects the significant improvement in CACS'
liquidity position, continued positive operations, and stable
enrollment over the last two academic years, which we expect CACS
to maintain for fiscal 2017," said S&P Global Ratings credit
analyst Ryan Quakenbush.

The continued positive operations have allowed CACS to improve its
liquidity to 63 days' cash on hand for fiscal 2016, well above
historical levels; just two years ago, the school had virtually
zero cash.  CACS previously had to rely on a line of credit from
the authorizer to cover liquidity needs, which it has now ended.
Additionally, CACS has maintained stable enrollment -- for the
current academic year, it enrolled 355 students, which is stable
from the previous academic year -- and it no longer has any bond
covenant violations, as was the case in fiscal years 2014 and
2013.

CACS had $5.76 million in long-term debt as of the end of fiscal
2016.


CONTEXTMEDIA HEALTH: S&P Lowers CCR to 'B-' on Revised Criteria
---------------------------------------------------------------
S&P Global Ratings said it lowered its corporate credit rating on
Chicago-based ContextMedia Health LLC to 'B-' from 'B'.  The
outlook is stable.

At the same time, S&P lowered the issue rating on the company's
senior secured $325 million term loan B and $50 million revolving
credit facility to 'B-' from 'B'.  The '3' recovery rating on the
term loan and the revolving credit facility remains unchanged and
indicates S&P's expectation of meaningful (50%-70%; upper half of
the range) recovery of principal in the event of a payment default.


"The downgrade reflects our view that the revised credit agreement
terms will weaken the company's cash flow and liquidity metrics in
2017 and 2018," said S&P Global Ratings credit analyst Kathryn
Archibald.

Specifically, among other things, the revised terms increase
interest margin by about 1%, annual mandatory debt amortization to
5% from 1%, and the original issue discount to 90% (about 95% after
reimbursements).  As a result, S&P now expects about
$18 million drawn on the revolving credit facility at close, and
negligible FOCF generation and cash flow deficits in 2017 if
capital spending remains unchanged from our estimates. Furthermore,
S&P believes it could result in higher-than-expected debt leverage
if unexpected liquidity constraints limit the company's ability to
fund growth investments and new customer acquisitions.

The ratings on ContextMedia reflect the company's high pro-forma
S&P-adjusted debt leverage of approximately 6.1x, S&P's
expectations for negligible discretionary cash flow generation in
2017, and ContextMedia's small scale, narrow business focus, and
limited operating history.  ContextMedia is a digital media company
providing doctors' offices free media content, through TVs,
tablets, and interactive wallboards, to engage and educate patients
while they are in waiting and exam rooms.  The company is the
market leader in the point-of-care digital advertising media
industry segment.

The stable outlook reflects S&P's expectation of negligible FOCF
generation in 2017 and FOCF to debt of less than 10% in 2018.  It
also reflects S&P's expectation that the accelerated pace of
revenues and EBITDA growth continues in 2017 and 2018, and that the
company will maintain about $15 million in liquidity.


CREEKSIDE CANCER: Court Allows MidFirst Cash Use on Interim Basis
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Colorado authorized
Creekside Cancer Care, LLC, to use cash collateral on an interim
basis.

MidFirst Bank claims a first priority lien on, and security
interest in, most of the Debtor's assets, including the Debtor's
cash, accounts, and the proceeds thereof, pursuant to certain
credit agreements.

MidFirst Bank consented to the Debtor's interim use of cash
collateral.

The Court acknowledged that an immediate need exists for the Debtor
to use cash collateral to continue to pay wages and other direct
operating expenses, to maintain vendor and customer support, and
generally conduct its business affairs so as to avoid immediate and
irreparable harm to its estate and the value of its assets.

The approved Budget provided for total expenses in the amount of
$81,914.

MidFirst Bank is granted a valid, perfected and enforceable
post-petition security interest and lien in and upon all
postpetition accounts and income derived from the operation of the
business and assets.

The Debtor is directed to maintain all insurance policies in effect
as of the Petition Date and keep all collateral fully secured.

The Debtor's Motion is scheduled for final hearing on Jan. 11, 2017
at 1:30 p.m.  The deadline for the filing of objections to the
Debtor's Motion is set on Jan. 6, 2017.

A full-text copy of the Interim Order, dated Dec. 23, 2016, is
available at
http://bankrupt.com/misc/CreeksideCancer2016_1621943mer_44.pdf

                    About Creekside Cancer Care

Creekside Cancer Care, LLC, filed a chapter 11 petition (Bankr. D.
Colo. Case No. 16-21943) on Dec. 9, 2016.  The petition was signed
by Charles Kelley Simpson, sole member.  The Debtor is represented
by Steven E. Abelman, Esq., Samuel M. Kidder, Esq., and Michael J.
Pankow, Esq., at Brownstein Hyatt Farber Schreck, LLP.  The Debtor
estimated assets and liabilities at $1 million to $10 million.

The Debtor is engaged in the business as a cancer care and
treatment center.  The Debtor provides a range of non-invasive
radiation therapy treatment options to its patients.  The Debtor is
based in Lafayette, CO.


CRESTWOOD HOLDINGS: S&P Affirms 'CCC+' Rating on Sr. Sec. Debt
--------------------------------------------------------------
S&P Global Ratings said that it has reviewed its recovery and
issue-level ratings on Crestwood Holdings LLC that were labeled as
"under criteria observation" (UCO) after publishing its revised
recovery ratings criteria on Dec. 7, 2016.  With S&P's criteria
review complete, it is removing the UCO designation from these
ratings and are affirming the 'CCC+' issue-level rating and
revising the recovery rating to '3' from '4', reflecting S&P's
expectation of meaningful (50%-70%; upper half of the range) in the
event of default.

These rating actions stem solely from the application of S&P's
revised recovery criteria and do not reflect any change in its
assessment of its corporate credit rating on the issuer.

Ratings list

Issue Rating Affirmed; Recovery Rating Revised Due To Revised
Recovery Rating Criteria For Speculative-Grade Corporate Issuers

                                       To           From
Crestwood Holdings LLC
Senior secured                        CCC+         CCC+
  Recovery Rating                      3            4H


CROWN HOLDINGS: S&P Reviews Ratings Following Revised Criteria
--------------------------------------------------------------
S&P Global Ratings said that it has reviewed its recovery and
issue-level ratings on Crown Holdings Inc. and its subsidiaries
that were labeled as "under criteria observation" (UCO) after
publishing its revised recovery ratings criteria on Dec. 7, 2016.
With S&P's criteria review complete, it is removing the UCO
designation from these ratings, lowering the issue-level ratings on
Crown Holdings' senior secured credit facilities, and revising the
recovery ratings on the debt.  S&P is also lowering its issue-level
ratings and revising the recovery ratings on the unsecured debt
issued by its Crown Americas LLC subsidiary.  In addition, S&P is
affirming the issue-level ratings on the senior unsecured notes
issued by Crown European Holdings S.A., a subsidiary of Crown
Holdings Inc. domiciled outside of the U.S., and on the unsecured
notes issued by Crown Cork and Seal Co. Inc.  The recovery ratings
on this debt are unchanged.

Importantly, these rating actions stem solely from the application
of S&P's revised recovery criteria and do not reflect any change in
its assessment of the corporate credit ratings for issuers of the
affected debt issues.

Ratings list

Issue Rating Lowered, Recovery Rating Revised Due To Revised
Recovery Rating Criteria For Speculative-Grade Corporate Issuers

                                                   To        From
Crown Americas LLC
Senior Secured                                    BB+       BBB-
  Recovery Rating                                  2L        1

Crown European Holdings S.A.
Senior Secured                                    BB+       BBB-
  Recovery Rating                                  2L        1

Crown Metal Packaging Canada L.P.
Senior Secured                                    BB+       BBB-
Recovery Rating                                   2L        1

Crown Americas Capital Corp. IV
Senior Unsecured                                  B+        BB-
  Recovery Rating                                  6         5L

Crown Americas LLC
Senior Unsecured                                  B+        BB-
  Recovery Rating                                  6         5L

Issue Rating Affirmed, Recovery Rating Unchanged Due To Revised
Recovery Rating Criteria For Speculative-Grade Corporate Issuers

Crown European Holdings S.A.
Senior Unsecured                                  BB
  Recovery Rating                                  3H

Crown Cork & Seal Co Inc.
Senior Unsecured                                  B+
  Recovery Rating                                  6


D & N Electric: Seeks Approval to Pay $429K to Vendor IBEW
----------------------------------------------------------
D & N Electric, A Carter Brothers Company asks the U.S. Bankruptcy
Court for the Northern District of Georgia for authorization to pay
its critical vendor IBEW Local 613 and the IBEW Funds the
prepetition amount owed to them by Dec. 30, 2016.

The Debtor relates that the vast majority of the contracts in which
it has entered, requires it use union labor.  The Debtor further
relates that it has contracted with Local 613 of the International
Brotherhood of Electrical Workers, also known as the IBEW, to
provide this labor.  The Debtor adds that the IBEW is one the most
important, if not the most important, vendor to the Debtor.

The Debtor contends that as part of its agreements with IBEW, the
Debtor not only pays wages to the skilled laborers provided by the
IBEW but also makes payments to the IBEW and several of its
affiliates for union dues, defined pension plan contributions and
health insurance funds.  The Debtor further contends that it also
makes payments to fund bonds to secure the payment of these
obligations.  These payments are made on a monthly basis to IBEW
based on the usage of skilled laborers from the prior month.  The
vast majority of these funds are ultimately directed by the union
to separately administered funds established to provide health and
pension benefits for both active union members and retirees.  These
funds, known as the IBEW Funds, have separate counsel from the IBEW
Local 613.

The Debtor currently owes IBEW and the IBEW Funds the sum of
$428,501 due for the month of November and is due to be paid in
December.  The Debtor has advised IBEW and the IBEW Funds that it
intends to seek Court permission to pay this amount and to approve
assumption of the IBEW agreements as part of its reorganization
process. The Debtor has a 30-day period to file appropriate motions
with the Bankruptcy Court and to seek this relief in the ordinary
course of business.

The Debtor tells the Court that IBEW Funds, has advised the Debtor
that it will make claims on outstanding bonds commencing January 2,
2017, if the Debtor does not pay the amounts due.  The Debtor
further tells the Court that IBEW Funds has refused to provide any
accommodation or grace period to the Debtor to address this issue
in a more orderly manner with the Court.

The Debtor notes that IBEW Local 613 itself has not taken this
position and that the need to make the immediate payment stems from
the need to make payments to the separate health and pension funds
by December 30, 2016 including, but not limited to, the IBEW Local
613 Contributing Employee Family Health Fund, IBEW Local 613
Contribution Employee Health Fund for Retirees and the IBEW Local
613 Defined Contribution Pension Fund, also known as the IBEW
Funds.  The Debtor further notes that the vast majority of the
amount owed, $428,501, is owed to the IBEW Funds for health
insurance and pension benefits for union workers.

The Debtor contends that if IBEW Funds makes and pursues claims
against the outstanding bonds, existing bonds will be cancelled and
the Debtor will be required to obtain new bonds.  The Debtor
further contends that if it cannot obtain new bonds, the Debtor
will not be able to employ skilled union labor and will have to
cease operations.

The Debtor relates that IBEW Funds has advised the Debtor that if
it does not have bonds in place, IBEW Local 613 will not provide
skilled labor for the Debtor.  The Debtor believes it will be
difficult, if not impossible, for the Debtor, to obtain new bonds
both due the existence of these claims and the pendency of the
Bankruptcy Case.  The Debtor's management has concluded that it
must pay the pre-petition claims owed to the IBEW Local 613 and the
IBEW Funds in order to maintain its access to skilled, union labor
during the Chapter 11 Case, including the payment of pre-petition
amounts owed to the IBEW Local 613 and the IBEW Funds.  The Debtor
asserts that if it cannot continue to have access to this source of
labor, it will have to cease operations and terminate its other
non-union employees and cease operations.

A full-text copy of the Debtor's Motion, dated Dec. 23, 2016, is
available at
http://bankrupt.com/misc/D&NElectric2016_1672113crm_13.pdf

D & N Electric, A Carter Brothers Company is represented by:

          Henry F. Sewell, Jr., Esq.
          LAW OFFICES OF HENRY F. SEWELL JR., LLC
          Suite 200, 3343 Peachtree Road NE
          Atlanta, GA 30326
          Telephone: (404) 926-0053

                     About D & N Electric

D & N Electric, A Carter Brothers Company, filed a chapter 11
petition (Bankr. N.D. Ga. Case No. 16-72113) on Dec. 11, 2016.  The
petition was signed by John F. Carter, CEO.  The Debtor is
represented by Herbert C. Broadfoot, II, Esq., at Herbert C.
Broadfoot II, PC.  The Debtor estimated assets and liabilities at
$1 million to $10 million at the time of the filing.

The Debtor is an Atlanta based electrical contractor serving
owners, developers and general contractors in the Southeast with
its principal place of business located at 3015 RN Martin Street,
East Point, Georgia 30344.  At present, the Debtor has
approximately 170 employees.


D & N ELECTRIC: Wants Authorization to Use Bank of America Cash
---------------------------------------------------------------
D & N Electric, A Carter Brothers Company, asks the U.S. Bankruptcy
Court for the Northern District of Georgia for authorization to use
cash collateral.

The Debtor owes the Bank of America the amount of $2,000,000 as of
the Petition Date.  The Bank of America asserts a first lien
against all business assets of the Debtor, including proceeds of
the Debtor's cash collateral.  The Bank of America also assets a
first priority security interest against the Debtor's headquarters
building which is owned by MGA, Inc., known as the East Point
Building, and is owned by an individual which has an ownership
interest in an affiliate of the Debtor.

The Debtor contends that as of the Petition Date, the outstanding
balance of the Debtor’s Accounts Receivable owed to the Debtor
was approximately $2.5 million.  The Debtor further contends that
the East Point Building is worth between $1.5 and $2.0 million.

The Debtor tells the Court that unless authorized to use the Cash
Collateral in the ordinary course of business, the Debtor's
operations will be impaired and Debtor's ability to reorganize will
be jeopardized.  The Debtor further tells the Court that if it does
not obtain permission to use cash collateral it will be required to
cease all operations and terminate its work force.

The Debtor proposes to grant Bank of America a security interest in
and lien upon Debtor's postpetition accounts receivable and
proceeds to the same extent and priority as its prepetition lien
and interest in its prepetition collateral, continuation of the
lien and security interest held by Bank of America in its
prepetition collateral.

The Debtor asserts that Bank of America's interests are adequately
protected through its asserted security interests in the East Point
Building and against an affiliate of the Debtor.

A full-text copy of the Debtor's Motion, dated Dec. 23, 2016, is
available at
http://bankrupt.com/misc/D&NElectric2016_1672113crm_16.pdf

D & N Electric is represented by:

          Henry F. Sewell, Jr., Esq.
          LAW OFFICES OF HENRY F. SEWELL JR., LLC
          Suite 200, 3343 Peachtree Road NE
          Altanta, GA 30326
          Telephone: (404) 926-0053

                       About D & N Electric

D & N Electric, A Carter Brothers Company, is an Atlanta based
electrical contractor serving owners, developers and general
contractors in the Southeast with its principal place of business
located at 3015 RN Martin Street, East Point, Georgia 30344. At
present, the Debtor has approximately 170 employees.

D & N Electric filed a chapter 11 petition (Bankr. N.D. Ga. Case
No. 16-72113) on Dec. 11, 2016.  The petition was signed by John F.
Carter, CEO.  The Debtor estimated assets and liabilities at $1
million to $10 million at the time of the filing.

The Debtor is represented by Herbert C. Broadfoot, II, Esq., at
Herbert C. Broadfoot II, PC.


DANCING WATERS: $8.3MM Sale of Governor's Point Property Approved
-----------------------------------------------------------------
Dancing Waters, LLC, Governor's Point Development, Co., Pleasant
Bay Properties & Associates, LP, Pleasant Road Partners, LP
("Entity Debtors"), and Carl Roger Sahlin won approval from the
U.S. Bankruptcy Court for the Western District of Washington to
sell the Governor's Point Property to Madrona Bay Real Estate
Investments, LLC, for $8,300,000.

Each of the Debtors owns undivided partial interests in the
Governor's Point Property.  The Governor's Point Property is a
125-acre undeveloped residential site located on the Washington
coastline approximately six miles south of Bellingham.  The
Property has 9,500 feet of marine shoreline frontage on Chuckanut,
Samish and Pleasant Bays in the Salish Sea.  Each of Entity Debtors
is owned in varying percentages by debtor Sahlin or other members
of the Sahlin family.

Any and all net proceeds of sale remaining after payment of closing
costs and other expenses, interests, and liens, will be held in
escrow or paid to Ogden Murphy Wallace, PLLC or Bush Kornfeld LLP,
to be held in trust pending further Order of this Court.

A full-text copy of the Order is available at:

  http://bankrupt.com/misc/wawb15-13216_264_Sale_Ord_Dancing_W.pdf

                       About Dancing Waters

Dancing Waters, LLC, sought Chapter 11 protection (Bankr. W.D.
Wash. Case No. 15-13216) on May 22, 2015.  Judge Timothy W. Dore is
assigned to the case.  The Debtor estimated assets and liabilities
in the range of $1 million to $10 million.  The Debtor tapped James
L. Day, Esq. at the Bush Strout & Kornfeld LLP as counsel.  The
petition was signed by Roger Sahlin, manager.


DEL RESTAURANT: Court Moves Plan Filing Deadline Through April 20
-----------------------------------------------------------------
Judge Alan S. Trust of the U.S. Bankruptcy Court for the Eastern
District of New York extended the exclusive period within which
only Del Restaurant Corp. d/b/a Lenny's Pizza may file a plan of
reorganization through April 20, 2017.

The Troubled Company Reporter had earlier reported that the Debtor
sought to extend its exclusive period to file a plan of
reorganization through February 21, 2017 since it currently had no
other funding sources for a plan, other than its restaurant and
pizzeria business.  The Debtor told the Court that its ability to
fund a Chapter 11 Plan is dependent upon the success of its ongoing
business operations.  

In addition, the Debtor was still reviewing the filed claims
against it after the bar date had passed on October 10, 2016.
Particularly, the Debtor told the Court that it was reviewing the
$311,000 claim of the New York State Department of Taxation and
Finance and currently had preliminary discussions with NYS' counsel
in regard to the claim.

                          About Del Restaurant Corp.

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


DELPHI CORP: Treasury Dept Must Turn Over Evidence, Judge Says
--------------------------------------------------------------
Kat Greene, writing for Bankruptcy Law360, reported that the the
U.S. Department of Treasury will have to turn over evidence related
to decisions it made in General Motors' 2009 bankruptcy for a
related pension plan dispute after U.S. District Judge Emmet G.
Sullivan in Washington, D.C., found the agency "miserably failed"
to explain why the records are privileged.  Judge Sullivan found
that the Treasury Department hadn't complied with the court's
instructions on giving its specific rationale for why some 200
records fit under the protection of "deliberative process"
privilege, which shields government officials' communications
during the process of making a major decision.

According to the report, Judge Sullivan held that, while in the
midst of a discovery dispute with current and former salaried
workers for Delphi Corp., who are suing Pension Benefit Guaranty
Corp. over an alleged deal with GM that cut their pension fund,
Treasury forked over about 75% of the records it had previously
claimed were privileged.  But for the records the government wants
to keep under wraps, Treasury had failed to explain whether the
documents are related to the agency's final policy decision --
which would mean they're no longer protected -- or whether the
communications were from before a decision was made.

The report recounts that a complaint filed in September 2009 states
that Delphi, which was once part of General Motors Corp. and later
became tied up in the GM bankruptcy, had terminated its pension
plan under pressure from the government, which at the time was
working out a bailout of the automotive industry.  The Treasury
Department is not a party to that action.  Delphi workers had
demanded some records from Treasury, and in July 2015 filed a
motion to compel production or in camera review of the 866
documents the agency was holding back as privileged.

                    About Delphi Corp.

Based in Troy, Michigan, Delphi Corporation --
http://www.delphi.com/-- is a global supplier of electronics and  
technologies for automotive, commercial vehicle and other market
segments.  Delphi operates major technical centers, manufacturing
sites and customer support facilities in 30 countries.

The Company filed for Chapter 11 protection (Bankr. S.D.N.Y. Lead
Case No. 05-44481) on Oct. 8, 2005.  John Wm. Butler Jr., Esq.,
John K. Lyons, Esq., and Ron E. Meisler, Esq., at Skadden, Arps,
Slate, Meagher & Flom LLP, represented the Debtors in their
restructuring efforts.  Robert J. Rosenberg, Esq., Mitchell A.
Seider, Esq., and Mark A. Broude, Esq., at Latham & Watkins LLP,
represented the Official Committee of Unsecured Creditors.  As of
June 30, 2008, the Debtors' balance sheet showed $9.16 billion in
assets and $23.7 billion in debt.

The Court confirmed Delphi's plan on Jan. 25, 2008.  The Plan was
not consummated after a group led by Appaloosa Management, L.P.,
backed out from their proposal to provide $2.55 billion in equity
financing to Delphi.  At the end of July 2009, Delphi obtained
confirmation of a revised plan, build upon a sale of the assets to
a entity formed by some of the lenders who provided $4 billion of
debtor-in-possession financing, and General Motors Company.

On Oct. 6, 2009, Delphi's Chapter 11 plan of reorganization became
effective.  A Master Disposition Agreement executed among Delphi
Corporation, Motors Liquidation Company, General Motors Company,
GM
Components Holdings LLC, and DIP Holdco 3, LLC, divides Delphi's
business among three separate parties -- DPH Holdings LLC, GM
Components, and DIP Holdco 3.

Delphi emerged from Chapter 11 as DPH Holdings.  DPH Holdings is
responsible for the post-Effective Date administration and
eventual
closing of the Chapter 11 cases as well as the disposition of
certain retained assets and payment of certain retained
liabilities
as provided under the Modified Plan.

Delphi Automotive PLC is UK-based company formed in May 2011 as a
holding company for US-based automotive parts manufacturer Delphi
Automotive LLP.  Delphi Automotive LLP is the successor to the
former Delphi Corporation.  At the time of its formation, Delphi
Automotive PLC filed an initial public offering seeking to raise
at least $100 million.


DELTAVILLE BOATYARD: Can Use Cash Collateral on Final Basis
-----------------------------------------------------------
Judge Keith L. Phillips of the U.S. Bankruptcy Court for the
Eastern District of Virginia authorized Deltaville Boatyard, LLC,
Boatyard Rentals, LLC, and Deltaville Marina, LLC, to use cash
collateral on a final basis.

Judge Phillips acknowledged that the Debtors need to use cash on
hand and cash flow from their operations to fund their working
capital needs.  He further acknowledged that the Debtors'
businesses will decline if they cannot access cash on hand and cash
flow from their operations.

The approved Budget covers the period from the week ending Dec. 31,
2016 through
March 4, 2017.  The Budget provides for total disbursements in the
amount of $377,783 for Delataville Boatyard.

SummitBridge National Investments III LLC and the Internal Revenue
Service were granted additional and valid, perfected and
enforceable continuing replacement security interests and liens in
the collateral similar to that which it held a valid and perfected
lien prior to the Petition Date.

The Debtor was directed to make monthly adequate protection
payments to SummitBridge in the amount of $7,500, beginning on Jan.
3, 2017, and $5,800 to the IRS, commencing January 2017.

A full-text copy of the Final Order, dated Dec. 23, 2016, is
available at
http://bankrupt.com/misc/DeltavilleBoatyard2016_1635390klp_57.pdf

                 About Deltaville Boatyard, LLC

Boatyard Rentals, LLC, Deltaville Marina, LLC, and Deltaville
Boatyard, LLC filed chapter 11 petitions (Bankr. Case Nos.
16-35389, 16-35390,and 16-35974, respectively) on November 2, 2016.
The petitions were signed by Kieth Ruse, manager.  The Debtors are
represented by Paula S. Beran, Esq. at Tavenner & Beran, PLC.  

Boatyard Rentals, LLC's case is assigned to Judge Keith L.
Phillips.  Deltaville Marina, LLC's case is assigned to Judge Kevin
R. Huennekens.  Deltaville Boatyard, LLC's case is assigned to
Judge Keith L. Phillips.

Boatyard Rentals, LLC estimated assets at $500,000 to $1 million
and liabilities at $1 million to $10 million.  Deltaville Marina,
LLC estimated both assets and liabilities at $1 million to $10
million at the time of the filing.  Deltaville Boatyard, LLC
estimated assets at $100,000 to $500,000 and liabilities at $1
million to $10 million.


DIAMOND XPRESS: Unsecureds To Recoup 100% Over 120 Months
---------------------------------------------------------
The U.S. Bankruptcy Court for the District of Tennessee is set to
hold a pretrial conference on confirmation of Diamond Xpress LLC's
Chapter 11 plan of reorganization on Jan. 19.

The hearing will be held at 9:30 a.m., at Courtroom 680, 200
Jefferson Avenue, Memphis, Tennessee.

The court had earlier approved the disclosure statement, allowing
Diamond Xpress to start soliciting votes from creditors.  

The order set a Jan. 9 deadline for creditors to cast their votes
and file their objections.

The restructuring plan proposes to pay Class 4 general unsecured
claims in full, without interest, over 120 months from the
effective date of the plan.  Claims will be paid from future
business operations, according to the company's latest disclosure
statement filed on Dec. 15.

A copy of the amended disclosure statement is available for free at
http://bankrupt.com/misc/DiamondXpress_1DS12152016.pdf
   
                       About Diamond Xpress

Diamond Xpress, LLC, filed for Chapter 11 bankruptcy protection
(Bankr. W.D. Tenn. Case No. 16-23669) on April 18, 2016.  The
Debtor is represented by Russell W. Savory, Esq., at Beard &
Savory, PLLC.


DUNLAP STREET: Kish Bank To Be Pad in Full With Interest
--------------------------------------------------------
Dunlap Street, LLC, filed with the U.S. Bankruptcy Court for the
Middle District of Pennsylvania an amended disclosure statement
referring to the Debtor's plan of reorganization dated Dec. 14,
2016.

Class 2B Kish Bank is impaired under the Plan.  Kish Bank has a
first mortgage lien on the restaurant property.  As of the
commencement of the bankruptcy case, this claim is estimated to be
in the amount of $440,000.  This creditor will be paid in full
with
interest at the contract rate from the sale proceeds at closing.

Class 3 General Unsecured Creditors is impaired under the Plan.
These creditors will be paid pro rata from the remaining sale
proceeds upon the effective date of the Plan.

The Debtor seeks to funds its plan through the joint sale of its
assets with KDP Bellefonte, Inc.

Dunlap Street, LLC, owned the site of the Gamble Mill Restaurant
and Microbrewery, and KDP Bellefonte, Inc., owned the liquor
license, furniture, fixtures, equipment, and other business assets
of the Gamble Mill Restaurant and Microbrewery.

A joint sale with KDP Bellefonte, Inc., is being pursued because
both debtors have a common purchaser and common primary
lienholders.  A sale complaint, motion, and notice have been
filed.

At closing, Centre County and Kish Bank will be paid in full with
interest.

The remaining sale proceeds will be divided evenly between the
bankruptcy estates of Dunlap Street, LLC, and KDP Bellefonte, Inc.

The Disclosure Statement is available at:

            http://bankrupt.com/misc/pamb16-00542-65.pdf

Dunlap Street, LLC, owns commercial property located at 160 Dunlap
Street, Bellefonte, Pennsylvania.  Its sole tenant was KDP
Bellefonte, Inc., which operated the Gamble Mill Restaurant and
Microbrewery from 2007 to 2014.

The Debtor filed for Chapter 11 bankruptcy protection (Bankr. M.D.
Pa. Case No. 16-00542) on Feb. 10, 2016.  Donald M. Hahn, Esq., at
Stover McGlaughlin Gerace Weyandt & McCormick PC serves as the
Debtor's bankruptcy counsel.


EMPIRE TODAY: S&P Withdraws 'CCC' CCR at Issuer's Request
---------------------------------------------------------
S&P Global Ratings withdrew all of its ratings on Empire Today LLC,
including the 'CCC' corporate credit rating, at the company's
request.  The withdrawal follows the completion of H.I.G. Capital's
acquisition of Empire Today and repayment of the company's rated
secured notes.  At the time of withdrawal, the outlook was
developing.


EMPRESAS PLAYA: Unsecureds To Recoup 2% Over 60 Months
------------------------------------------------------
The U.S. Bankruptcy Court for the District of Puerto Rico is set to
hold a hearing on Feb. 23, at 9:30 a.m., to consider approval of
the disclosure statement and Chapter 11 plan of reorganization of
Empresas Playa Joyuda Inc.

Objections must be filed not less than 14 days prior to the
hearing.

Empresas Playa's restructuring plan proposes to pay Class 4 general
unsecured creditors $31,658.65, which represents a 2% distribution
for this class.  These creditors will receive a monthly payment of
$527.64 over 60 months.

Empresas Playa estimates the total amount of Class 4 general
unsecured claims to be more than $1.58 million.

The plan will be funded by the revenue that the company's hotel
generates after payments of operating expenses and taxes, according
to its latest disclosure statement filed on Dec. 15.

A copy of the disclosure statement is available for free at
http://bankrupt.com/misc/EmpresasPlaya_1DS12152016.pdf

                   About Empresas Playa Joyuda

Empresas Playa Joyuda, Inc. filed a Chapter 11 bankruptcy petition
(Bankr. D.P.R. Case No. 15-09594) on Dec. 1, 2015.  The petition
was signed by Cesar Perez Perichi, president and treasurer.  The
Debtor is represented by Victor Gratacos Diaz, Esq., at Gratacos
Law Firm, PSC.  The Debtor disclosed $939,685 in assets and $2.74
million in liabilities.


EVEN ST. PRODUCTIONS: Taps BPE&H as Accountant
----------------------------------------------
Even St. Productions Ltd. and Majoken, Inc. seek authorization from
the U.S. Bankruptcy Court for the Central District of California to
employ BPE&H an Accountancy Corporation as the Debtors' certified
public accountant, effective November 7, 2016.

BPE&H will prepare the federal and applicable state's corporate
income tax returns for Even Street for the years ended 2012 through
2015 (2016 if necessary) and will advise Even Street on income tax
matters to which Even Street specifically requests the Accountant's
advice.

The Accountant will also prepare the federal and applicable state's
corporate income tax returns for Majoken for the years ended 2013
through 2015 (2016 if necessary) and will advise Even Street on
income tax matters to which Majoken specifically requests the
Accountant's advice.

BPE&H will be paid at these hourly rates:

     Robert L. Price, Tax Manager       $335
     Scott I. Eisner, Shareholder       $400
     Martin Belak-Berger, Shareholder   $375
     Natasha Rudnitsky, Tax Manager     $225
     Linda Duban, Admin. Staff          $60
     Karen Partovich, Admin. Staff      $50

BPE&H will also be reimbursed for reasonable out-of-pocket expenses
incurred.

BPE&H has requested that the Debtors provide to the Accountant a
retainer in the amount of $15,000.

Scott I. Eisner, a shareholder at BPE&H, assured the Court that the
firm is a "disinterested person" as the term is defined in Section
101(14) of the Bankruptcy Code and does not represent any interest
adverse to the Debtors and their estates.

BPE&H can be reached at:

       Scott I. Eisner
       BPE&H AN ACCOUNTANCY CORPORATION
       21300 Victory Blvd., Suite 520
       Woodland Hills, CA 91367
       Tel: (818) 914-7100
       Fax: (818) 914-7101

                   About Even St. Productions

Even St. Productions Ltd. and Majoken, Inc., manage, promote, and
monetize the rights and interests emanating from the skills and
talents of Sylvester Stewart p/k/a Sly Stone ("Stewart"), and the
musical group Sly & the Family Stone.  The master recordings and
musical compositions of Stewart have generated royalties and
licensing income for over 40 years.

Even St. Productions Ltd., f/k/a Stone Fire Productions, Ltd. and
Majoken, Inc., sought Chapter 11 protection (Bankr. C.D. Cal. Case
Nos. 13-24363 and 13-24389) on May 31, 2013, in Los Angeles.  The
petitions were signed by Gerald Goldstein, president.  The cases
are jointly administered under Lead Case No. Lead Case No.
13-24363, with the Honorable Julia W. Brand presiding.  

Even St. and Majoken each estimated assets and debt of $1 million
to $10 million.  

The Debtors continue to manage their financial affairs and operate
their bankruptcy estates as debtors in possession pursuant to
Sections 1107 and 1108 of the Bankruptcy Code.

The Debtors employed Levene, Neale, Bender, Yoo & Brill L.L.P.
("LNBYB") as their general bankruptcy counsel; G&M as their
litigation counsel in the Royalty litigation; and Ervin, Cohen &
Jessup LLP as special counsel.  The Debtors also tapped R. Eli Ball
as the broker to market and sell the Debtors' interests in the
royalties and other intellectual property that constitute property
of the Debtors' bankruptcy estates, subject to the terms of the
Agreement with Sylvester Stewart.


FANSTEEL INC: Wants to Continue Using Cash Collateral
-----------------------------------------------------
Fansteel, Inc., and Wellman Dynamics Machining and Assembly, Inc.,
ask the U.S. Bankruptcy Court for the Southern District of Iowa for
authorization to continue using cash collateral.

The Court had previously allowed the Debtors to use cash collateral
through Jan. 6, 2017.

The Debtors want to continue using cash collateral on the same
terms and conditions as the Court's previous Cash Collateral Order,
with the exception of the portion of the Cash Collateral Order
regarding the professional fees of TCTM.

The Debtors' proposed Budget covers the period from the week ending
Jan. 13, 2017 through the week ending April 28, 2017.  The Budget
provides for total operating cash disbursements in the amount of
$19,104,103.

A full-text copy of the Debtor's Motion, dated Dec. 23, 2016, is
available at
http://bankrupt.com/misc/FansteelInc2016_1601823als11_337.pdf

                  About Fansteel, Inc.

Headquartered in Creston, Iowa, Fansteel operates four business
units at four locations in the USA and one in Mexico with a
workforce of more than 600 employees. Fansteel generated
approximately $87.4 million in revenue in 2015 on a consolidated
basis.  WDC contributes approximately 67% of Fansteel's sales.  The
rest of the sales are generated from Intercast, a division of
Fansteel, and other non-debtor subsidiaries, as disclosed in court
documents.

Fansteel, Inc., d/b/a Fansteel Intercast, d/b/a Fansteel Wellman
Dynamics, d/b/a Fansteel American Sintered Technologies, Wellmand
Dynamics Corporation, and Wellman Dynamics Machinery & Assembly,
Inc. filed chapter 11 petitions (Bankr. S.D. Iowa Lead Case No.
16-01823) on Sept. 13, 2016.  The petitions were signed by Jim
Mahoney, CEO.  The cases are assigned to Judge Anita L. Shodeen.
The Debtors disclosed total assets of $32.9 million and total debt
of $41.97 million.

The Debtors tapped Jeffrey D. Goetz, Esq. and Krystal R.
Mikkilineni, Esq., at Bradshaw, Fowler, Proctor & Fairgrave, P.C.,
as counsel; and RSM US LLP as tax advisor.

The U.S. Trustee for Region 12 on Sept. 23, 2016, appointed nine
creditors of Fansteel Inc. to serve on the official committee of
unsecured creditors.  The Official Committee has retained
MorrisAnderson & Associates, Ltd., as financial advisor, and Archer
& Greiner, P.C. and Nyemaster Goode, P.C., as counsel.


FOUR DIA: Can Use CapitalSpring Cash Collateral on Final Basis
--------------------------------------------------------------
Judge Barbara J. Houser of the U.S. Bankruptcy Court for the
Northern District of Texas authorized Four Dia, LLC to use cash
collateral on a final basis.

CapitalSpring SBLC, LLC, asserted that the Debtor is indebted to it
in the original principal amount of $4,925,000.  CapitalSpring
further asserted that the debt was secured by liens, assignments,
and security interests in the property described in the Deed of
Trust, Security Agreement and Assignment of Rents dated Nov. 24,
2014.

The cash collateral consists of all deposits, rents and cash
arising from the collection or conversion into cash of property of
the Debtor in which CapitalSpring holds valid and perfected
pre-petition security interest, liens or mortgages.

CapitalSpring consented to the Debtor's use of cash collateral on a
final basis.

Judge Houser acknowledged that the use of cash collateral is
necessary to avoid immediate and irreparable harm to the Debtor's
bankruptcy estate.

The approved Monthly Expense Budget provided for total expenses in
the amount of $77,272.  The Budget includes, among others, mortgage
payments to CapitalSpring in the amount of $15,000.

CapitalSpring is granted valid, perfected, and enforceable
replacement liens and assignments on and first priority
post-petition security interests in all assets of the Debtor in
which CapitalSpring's liens and security interests granted in the
Loan Documents would otherwise attach, and all their proceeds,
rents, products, and profits, subject to valid and perfected liens
and security interests of other creditors in any specific piece of
property or proceeds that existed as of the Petition Date and that
are senior and prior to any prepetition lien and security interest
of CapitalSpring in such property, and subject to any fees payable
to the United States Trustee pursuant to 28 U.S.C. 1930(a)(6).

The Debtor's authorization to use cash collateral will terminate on
the earliest to occur of:

     (a) the Debtor’s failure to comply with any of the terms of
the Final Order; or

     (b)  immediately upon entry of an Order (i) converting the
chapter 11 case to a case under chapter 7 of the Bankruptcy Code;
(ii) dismissing the chapter 11 case; (iii) appointing a trustee
under chapter 7 or chapter 11 of the Bankruptcy Code, or appointing
an examiner with expanded powers; or (iv) reversing or vacating the
Court's Final Order; or

     (c) any application by the Debtor for entry of an order
approving use of Cash Collateral, or for any financing or loans
secured by liens which are senior, pari passu, or junior to
CapitalSpring's liens on Prepetition Collateral, without the prior
written approval of CapitalSpring; or

     (d) the filing of a motion in the chapter 11 case without
CapitalSpring’s prior written consent (i) to obtain financing
under section 364 of the Bankruptcy Code from any person or entity
other than CapitalSpring, (ii) to grant any lien or security
interest on the Prepetition Collateral senior to or pari passu with
CapitalSpring, or (iii) to recover from any portion of the
Collateral any costs or expenses of preserving or disposing of
Collateral under section 506(c) of the Bankruptcy Code.

A full-text copy of the Final Order, dated Dec. 23, 2016, is
available at
http://bankrupt.com/misc/FourDia2016_1633459bjh11_51.pdf

CapitalSpring SBLC, LLC, is represented by:

          Russell W. Mills, Esq.
          HIERSCHE, HAYWARD, DRAKELEY & URBACH, P.C.
          15305 Dallas Parkway, Suite 700
          Addison, TX 75001
          Telephone: (972) 701-7000
          E-mail: mills@hhdulaw.com

                   About Four Dia, LLC

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

Four Dia, a Texas limited liability company, operates a 62-room
hotel located at 5750 Sherwood Way in San Angelo, Texas, which is
operated under a Wyndham Hotel Group franchise.  Four Dia employs
approximately 16 persons on a full or part-time basis.


FUNCTION(X) INC: Borrows Additional $250,000 from Sillerman
-----------------------------------------------------------
As previously disclosed by Function(x) Inc. in a Form 8-K filed on
June 12, 2015, Sillerman Investment Company IV, LLC, an affiliate
of Robert F.X. Sillerman, the Company's executive chairman and
chief executive officer of the Company, agreed to provide a Line of
Credit to the Company.

On Dec. 23, 2016, the Company borrowed an additional $250,000 under
the Line of Credit.  The principal amount now outstanding under the
Line of Credit is $3,214,586 and the Company is entitled to draw up
to an additional $1,785,414 under the Line of Credit, as disclosed
in a Form 8-K report filed with the Securities and Exchange
Commission.

                      About Function(x)Inc.

Based in New York, FunctionX Inc (NASDAQ:FNCX) is a diversified
media and entertainment company.  The Company conducts three lines
of businesses, which are digital publishing through Wetpaint.com,
Inc. (Wetpaint) and Rant, Inc. (Rant); fantasy sports gaming
through DraftDay Gaming Group, Inc. (DDGG), and digital content
distribution through Choose Digital, Inc. (Choose Digital).  The
Company's segments include Wetpaint, which is a media channel
reporting original news stories and publishing information content
covering television shows, music, celebrities, entertainment news
and fashion; Choose Digital, which is a business-to-business
platform for delivering digital content; DDGG, which is a
business-to-business operator of daily fantasy sports, and Other.
The Company's digital publishing business also includes Rant, which
is a digital publisher that publishes original content in over 13
verticals, such as in sports, entertainment, pets, cars and food.

The Company incurred a net loss of $63.68 million for the year
ended June 30, 2016, compared to a net loss of $78.53 million for
the year ended June 30, 2015.  As of Sept. 30, 2016, Function(x)
had $33.07 million in total assets, $27.51 million in total
liabilities and $5.55 million in total stockholders' equity.

BDO USA, LLP, in New York, issued a "going concern" qualification
on the consolidated financial statements for the year ended
June 30, 2016, citing that the Company has suffered recurring
losses from operations and at June 30, 2016, has a deficiency in
working capital that raise substantial doubt about its ability to
continue as a going concern.


GARDEN OF EDEN: Court Extends Plan Exclusivity Until March 27
-------------------------------------------------------------
Judge James L. Garrity, Jr. the U.S. Bankruptcy Court for the
Southern District of New York extended the exclusive periods during
which only Garden of Eden Enterprises, Inc. and its affiliated
Debtors have the right to file a plan of reorganization and solicit
acceptances to such plan, to and including March 27, 2017 and May
26, 2017, respectively.

The Troubled Company Reporter had earlier reported that the Debtors
sought an extension of their exclusivity periods contending that
since the holiday season was approaching, customarily their busiest
season, their attention were now focused on ensuring that they have
sufficient inventory in their stores, best quality goods and
services for their customers, maximizing sales and reducing
expenses while transitioning into Chapter 11 and complying with its
obligations as debtors-in-possession.

While it was imperative for the Debtors to get through the holiday
season so that they will have the benefit of the sales figures for
this time period, they will still be evaluating their businesses
and formulate and negotiate a plan of reorganization with its
secured creditors and the Committee through the holiday season, and
as such they were not in a position to present a plan and
disclosure statement.

                         About Garden of Eden Enterprises

Garden of Eden Enterprises, Inc., Broadway Specialty Food, Inc.,
Coskun Brothers Specialty, and Garden of Eden Gourmet Inc. filed
chapter 11 petitions (Bankr. S.D.N.Y. Case Nos. 16-12488, 16-12490,
16-12491, 16-12492, respectively) on Aug. 29, 2016.  The petitions
were signed by Mustafa Coskun, president.  The cases are assigned
to Judge James L. Garrity Jr.

Doing business as Garden of Eden, the Debtors operate three upscale
full-service specialty-food retail stores at leased premises in New
York.  The Debtor Garden of Eden Enterprises is the parent
operating company of the Debtors, and maintains its place of
business at 720 Anderson Avenue, Cliffside Park, New Jersey 07010.

Clifford A. Katz, Esq., and Scott K. Levine, Esq., of Platzer,
Swergold, Levine, Goldberg, Katz & Jaslow, LLP, serve as counsel to
the Debtors.

At the time of filing, the Debtors disclosed $8.05 million in
assets and $8.29 million in liabilities.  A list of the Debtors' 20
largest unsecured creditors is available for free at:

                 http://bankrupt.com/misc/nysb16-12488.pdf    

U.S. Trustee William K. Harrington on Sept. 15, 2016, appointed
three creditors to serve on the official committee of unsecured
creditors of Garden of Eden Enterprises, Inc., et al.  The Official
Committee retained Sullivan & Worcester LLP as counsel to the
Committee, effective October 6, 2016.


GARLOCK SEALING: Asbestos Committees Urge Court to Okay $20M Deal
-----------------------------------------------------------------
Matthew Guarnaccia, writing for Bankruptcy Law360, reported that
two asbestos claimant committees associated with Garlock Sealing
Technologies LLC's bankruptcy case have urged a North Carolina
bankruptcy judge to approve a $20 million deal to end asbestos
injury claims for affected automotive part manufacturers in Canada.
The Official Committee of Asbestos Claimants and another committee
for Garlock parent company Coltec Industry Inc. threw their support
behind the deal, which encompasses all present and future asbestos
claims against Garlock and non-debtor affiliates, including Garlock
of Canada Ltd.

As reported by the Troubled Company Reporter, 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 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, 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 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, 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 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.

In papers filed with the Bankruptcy Court, the two Asbestos
Committees urge the Court to permit the signatories to close and
perform the Settlement Agreement in accordance with its terms.
They explain that, among its other benefits, the Settlement
Agreement will curtail any risk that claims of the Provincial
Boards could be asserted in the United States and turn into a
significant burden on the Asbestos Trust. The releases and
covenants not to sue that the Provincial Boards will be obliged to
deliver if the Settlement Agreement takes effect will protect the
Asbestos Trust, just as they will protect the various companies in
the Debtors' corporate group.  Thus, the Settlement Agreement holds
assurance for the Asbestos Trust and its beneficiaries that claims
of the Provincial Boards, present and future, will never deplete
the $480 million that the Debtors and Coltec must contribute to the
Trust under the Plan.  The Settlement Agreement also calls for the
Provincial Boards to forego the assertion of any objections to
confirmation of the Plan, the prosecution of which could
conceivably bog down these protracted Chapter 11 cases in yet more
litigation and delay the creation and funding of the Trust.

The Committees note that the Future Claimants Representative
opposes the Settlement Motion.  The FCR's filed Objection does not
specify any grounds opposition, but he has elsewhere suggested that
Motley Rice LLC's representation of the Provincial Boards with
respect to the Settlement Agreement is somehow problematic because
the firm's lead partner, Joseph F. Rice, Esq., has served as
co-chair of the Garlock  Asbestos Claimants Committee.

According to the Committees, any insinuation of that kind is
misplaced, considering that:

     a. Mr. Rice and Motley Rice LLC recused themselves when the
Committees considered whether or not to accept the Term Sheet.

     b. "[A] committee's assent to a plan or a transaction does not
bind its members, let alone its constituents . . . ."  It follows
that Motley Rice LLC's representation of a claimant appointed to
the Garlock ACC does not disable that firm or Mr. Rice from
advocating for the independent position of the Provincial Boards.

     c. In keeping with the presumptive territorial limits of
American judicial power, the Plan does not purport to affect the
rights or remedies that foreign claimants may have in foreign
courts based on asbestos exposures suffered outside of the United
States.

     d. Taking a realistic view of their situation, Garlock of
Canada, EnPro, Coltec, and the Debtors have concluded that the
Settlement Agreement provides appropriate means of resolving
present and future claims of the Provincial Boards and thereby, in
conjunction with confirmation of the Plan, achieving a global
peace. The FCR accepted the Term Sheet and the Plan based on the
Debtors' and Coltec's commitment to contribute $480 million to the
Trust. That their corporate group chooses to devote additional
resources to settling claims of the Provincial Boards -- a
resolution that the Plan, itself, could not impose on those foreign
entities -- implicates no interest for which the FCR is responsible
and gives no just cause for complaint.

A hearing on the Debtors' Motion is scheduled for Feb. 1, 2017.

A hearing to consider confirmation of the Debtors' bankruptcy-exit
plan is set for May 15, 2017.

Co-Counsel for the Official Committee of Asbestos Personal Injury
Claimants:

     Trevor W. Swett III, Esq.
     Jeffrey A. Liesemer, Esq.
     CAPLIN & DRYSDALE, CHARTERED
     One Thomas Circle, N.W.
     Washington, DC 20005
     Telephone: (202) 862-5000
     E-mail: tswett@capdale.com
             jliesemer@capdale.com

          - and -

     Elihu Inselbuch, Esq.
     CAPLIN & DRYSDALE, CHARTERED
     Lexington Avenue, 21st Floor
     New York, NY 10022
     Telephone: (212) 379-0005
     E-mail: einselbuch@capdale.com

          - and -

     Travis W. Moon, Esq.
     MOON WRIGHT & HOUSTON, PLLC
     121 W. Trade Street
     Charlotte, NC 28202
     Telephone: (704) 944-6560
     E-mail: tmoon@mwhattorneys.com

                     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 Unsecured Creditors is represented by
FisherBroyles LLP.

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).  


GOLDEN BEARS 88: Hires Newman & Newman as Attorney
--------------------------------------------------
Golden Bears 88, LLC dba Veranda Apartments seeks authorization
from the U.S. Bankruptcy Court for the Southern District of
Mississippi to employ J. Walter Newman IV of Newman & Newman as
attorney.

The Debtor requires Newman & Newman to:

   (a) advise and consult with the debtor-in-possession regarding
       questions arising from certain contract negotiations which
       will occur during the operation of business by the debtor-
       in-possession;

   (b) evaluate and attack claims of various creditors who may
       assert security interests in the assets and who may seek to

       disturb the continued operation of the business;

   (c) appear in, prosecute, or defend suits and proceedings, and
       to take all necessary and proper steps and other matters
       and things involved in or connected with the affairs of the

       estate of the Debtor;

   (d) represent the Debtor in court hearings and assist in the
       preparation of contracts, reports, accounts, petitions,
       applications, orders and other papers and documents as may
       be necessary in the proceeding;

   (e) advise and consult with the Debtor in connection with any
       reorganization plan which may be proposed in the proceeding

       and any matters concerning the Debtor which arise out of or

       follow the acceptance or consummation of such
       reorganization or its rejection; and

   (f) perform other legal services on behalf of the Debtor as
       they become necessary in the proceeding.

Newman & Newman will be paid at these hourly rates:

       J. Walter Newman IV        $300
       Legal Assistant            $100

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

Gary Kenneth Lym, manager of Debtor and the Executor of the Estate
of June C. Lym, Deceased, paid a $15,000 retainer, less
pre-petition time for his representation of the Debtor.

J. Walter Newman IV, principal of Newman & Newman, 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.

Newman & Newman can be reached at:

       J. Walter Newman IV, Esq.
       NEWMAN & NEWMAN
       587 Highland Colony Parkway
       Ridgeland, MS 39157
       Tel: (601) 948-0586
       E-mail: wnewman95@msn.com

Golden Bears 88, LLC dba Veranda Apartments, filed a Chapter 11
bankruptcy petition (Bankr. S.D. Miss. Case No. 16-03788) on
November 18, 2016, disclosing under $1 million in both assets and
liabilities.  The Debtor is represented by J. Walter Newman, IV,
Esq., at Newman & Newman.


GOOD SHEPHERD: S&P Puts 'B-' Bonds Rating on CreditWatch Dev.
-------------------------------------------------------------
S&P Global Ratings placed its 'B-' long-term rating on bonds issued
for Good Shepherd Medical Center (GSMC), Texas, by various issuers,
on CreditWatch developing.

"The CreditWatch placement reflects the recent signing of a master
agreement between Good Shepherd Health System, Inc., the sole
member of GSMC, and 'A+' rated CHRISTUS Health, in which CHRISTUS
would become the sole corporate member of GSHS," said S&P Global
Ratings analyst Patrick Zagar.  The transaction is expected to be
closed within the first calendar quarter of 2017.  S&P also
anticipates receiving more information regarding CHRISTUS' plan for
GSMC's debt within the next few months, though the debt is not
likely to be included within CHRISTUS' obligated group.

At this time, S&P believes a multi-notch upgrade on GSMC is
possible based on S&P's expected application of group rating
methodology to determine the appropriate linkage to CHRISTUS
Health, contingent on a successful closing.  However, should the
transaction not be completed for any reason, S&P believes a
downgrade is possible given GSHS' continued operating challenges,
exemplified by a $36 million operating loss in fiscal 2016
(unaudited).

S&P believes that GSHS integrating into CHRISTUS Health will allow
for greater operating efficiencies and will improve GSHS' market
position as CHRISTUS incorporates the organization into its east
Texas growth strategy.  In May 2016, CHRISTUS acquired Trinity
Mother Frances Health System, which consists of three acute-care
hospitals, including the flagship 402-bed hospital in Tyler, Texas
(38 miles west of GSMC).  Shortly thereafter, CHRISTUS formalized a
joint venture arrangement with Hopkins County Hospital District in
Sulphur Springs (75 miles northwest of GSMC), which includes a
majority owned joint venture, lease and management agreement. These
new acquisitions complement CHRISTUS' existing facilities in east
Texas and western Louisiana and, in S&P's view, illustrate
management's commitment to the region.

CHRISTUS is a multistate, multihospital system located in Texas,
Louisiana, and New Mexico, and also in Mexico and South America.
The system has assets of more than $5 billion and posted net
patient revenue of $3.3 billion in its fiscal 2016.


GREAT BASIN: Stockholders OK Reverse Common Stock Split
-------------------------------------------------------
Great Basin Scientific, Inc., held a special meeting of its
stockholders on Dec. 22, 2016, at which the stockholders
representing 117,995,349 shares of common stock and 18,271,911
shares of Series F Preferred Stock, voting on an as-converted
basis, 81.67% of the Company's issued and outstanding Voting Stock
as of the record date of Nov. 7, 2016, were present in person or by
proxy, representing a quorum for the purposes of the Special
Meeting.  The stockholders:

  (1) approved an amendment to the Company's Seventh Amended and
      Restated Certificate of Incorporation, as amended, to effect
      a reverse stock split of the Company's issued and
      outstanding shares of common stock, par value $0.0001, at a
      ratio between 200-to-1 and 300-to-1, and to be effective
      upon a date on or prior to Feb. 28, 2017, such ratio and
      date to be determined by the Company's board of directors;

  (2) approved an amendment to the Company's Seventh Amended and
      Restated Certificate of Incorporation, as amended, to
      increase the number of authorized shares of the Company's
      common stock from 200,000,000 shares, par value $0.0001, to
      1,500,000,000 shares, par value $0.0001 to be effective on a

      date to be determined by the Company's board of directors on
      or prior to Feb. 28, 2017; and

  (3) approved the proposal to adjourn the Special Meeting, if
      necessary, to solicit additional proxies in the event the
      stockholders did not approve the Reverse Stock Split or
      Authorized Share Increase proposal.

Because all matters at the Special Meeting were approved, the
Company decided against adjourning the Special Meeting to solicit
additional proxies.

On Dec. 22, 2016, the Company filed a Fifth Certificate of
Amendment to its Certificate of Incorporation with the Secretary of
State of the State of Delaware, which will effect the Reverse Stock
Split and the Authorized Share Increase on Dec. 28, 2016, at 12:01
am EST.

As a result of the Reverse Stock Split, every 300 shares of the
Company's issued and outstanding common stock, par value $0.0001
will be converted into one share of common stock, par value $0.0001
reducing the number of issued and outstanding shares of the
Company's common stock from approximately 199 million to
approximately 663,334.  There was no change in the par value of the
common stock.

As a result of the Authorized Share Increase the company's
authorized shares of common stock will increase from 200,000,000 to
1,500,000,000 shares, par value $0.0001.  There was no change in
the par value of the common stock and the number of authorized
shares of preferred stock will not change.

No fractional shares will be issued in connection with the Reverse
Stock Split.  Stockholders who otherwise would be entitled to
receive fractional shares because they hold a number of pre-reverse
stock split shares of the Company's common stock not evenly
divisible by 300, will have the number of post-reverse split shares
of the Company's common stock to which they are entitled rounded up
to the next whole number of shares of the Company's common stock.
No stockholders will receive cash in lieu of fractional shares.

The Reverse Stock Split will not change the authorized number of
shares of common stock or preferred stock of the Company, but as
noted above the Authorized Share Increase will change the number of
authorized shares of common stock.  Pursuant to the terms of the
Company's Series E Convertible Preferred Stock, the Series F
Convertible Preferred Stock and the Company's senior secured
convertible notes, the conversion price at which Series E Preferred
Shares, the Series F Preferred Shares and Convertible Notes may be
converted into shares of common stock will be proportionately
adjusted to reflect the Reverse Stock Split.  In addition, pursuant
to their terms, a proportionate adjustment will be made to the per
share exercise price and number of shares issuable under of all of
the Company's outstanding stock options and warrants to purchase
shares of common stock, and the number of shares reserved for
issuance pursuant to the Company's equity compensation plans will
be reduced proportionately.

Trading of the Company's common stock on the OTCQB on a
split-adjusted basis is expected to begin at the opening of trading
on Dec. 28, 2016.  The trading symbol for the common stock will
remain "GBSN."  The new CUSIP number for the Common Stock following
the Reverse Stock Split is 39013L 809.

                       About Great Basin

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

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

As of Sept. 30, 2016, Great Basin had $83.40 million in total
assets, $144.9 million in total liabilities, and a total
stockholders' deficit of $61.47 million.

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


HAMPSHIRE GROUP: Proposes January Auction for James Campbell Biz.
-----------------------------------------------------------------
Hampshire Group, Limited, et al., filed with the Bankruptcy Court a
motion seeking approval of procedures for the sale of their James
Campbell business.

Since February 2014, the Debtors have marketed and developed the
James Campbell Brand and operated their James Campbell business. In
calendar year 2016, the Debtors have sold approximately 275,000
units of James Campbell clothing, resulting in revenue of
approximately $4.75 million.

As of January 2017, three full-time employees, 2 independent
contractors, and 2 commissioned salespersons perform duties
relating to the Debtors' James Campbell business.

The Debtors estimate that approximately $135,000 in monthly costs
currently are attributable to operation of the James Campbell
business, exclusive of any monies that would be used to  purchase
additional James Campbell units.

As of the Petition Date, approximately 105,000 units of James
Campbell clothing (the "James Campbell WIP Units") were in various
stages of manufacture by multiple vendors located in China,
Vietnam, and India.

The James Campbell WIP Units were ordered by the Debtors
prepetition to meet customer demand for James Campbell units in
advance of the spring 2017 selling season.  The aggregate remaining
cost for the Debtors to purchase all of the James
Campbell WIP Units and have these units shipped to California is
approximately $990,000 (Landed Duty Paid).

                          January Auction

Prior to and since the Petition Date, Paul Buxbaum, chief executive
officer of the Debtors and a long-time industry participant, has
led the Debtors' focused efforts in contacting persons and entities
in the industry regarding their interest in purchasing the James
Campbell Assets on an expedited basis. Multiple parties have signed
non-disclosure agreements.

The Debtors are in negotiations with multiple parties in connection
with their expressed interest in the purchase of the James Campbell
Assets.

The Debtors seek to receive binding bids for the James Campbell
Assets and to hold an auction should more than one qualified bid be
received.  The Debtors intend to select the highest and/or best bid
received for the James Campbell Assets, following consultation with
Salus and the Creditors Committee.

The Debtors seek to conduct an expedited bidding and auction
process with the goal of preserving and maximizing value for the
Debtors' estates, creditors and other stakeholders.  The proposed
Bid Procedures include these provisions:

    * Initial Bids must be received by the Bid Deadline of [January
6, 2017] at 5:00 p.m. (prevailing Eastern Time).

    * Parties who submit Qualified Bids prior to the Bid Deadline,
as well as representatives of administrative agent Salus Capital
Partners, LLC, the Creditors' Committee, OUST, and the Debtors,
including professionals representing the foregoing, will be
entitled to attend any Auction. Any creditor of the Debtors that
wishes to attend the Auction may do so as long as it provides to
undersigned counsel for the Debtors, at least two business days
prior to the Auction, a written notice (including the names of its
representatives who will attend) of its planned attendance.

    * If more than one Qualified Bid is received by the Bid
Deadline, the Debtors currently propose to hold an auction of the
James Campbell Assets on or about Jan. 9, 2017 at 10:00 a.m.
(Eastern Time) at the Delaware or Philadelphia offices of Blank
Rome LLP, or such other location determined by the Debtors.

    * During the Auction, bidding with respect to the James
Campbell Assets shall begin with the highest Qualified Bid,
continue with the first Incremental Bid Amount of $50,000 over and
above the previous highest Qualified Bid, and continue thereafter
in minimum increments of at least $25,000, unless modified by the
Debtors prior to or at the Auction following consultation with
Salus and the Creditors' Committee.

    * At the Auction, the Debtors intend to select the highest
and/or best Qualified Bid for the James Campbell Assets.

A full-text copy of the Sale Procedures Motion is available at:

   http://bankrupt.com/misc/deb16-12634_67_Sale_M_Hampshire.pdf

                      About Hampshire Group

New York-based Hampshire Group, Limited (OTC Markets: HAMP) is a
provider of fashion apparel across a broad range of product
categories, channels of distribution and price points.  As a
holding company, the Company operates through its wholly-owned
subsidiaries, Hampshire Brands, Inc. and Hampshire International,
LLC.  

Hampshire Group, Limited and two affiliates -- Hampshire Brands
and
Hampshire International -- sought Chapter 11 bankruptcy protection
(Bankr. D. Del. Case Nos. 16-12634 to 16-12636) on Nov. 23, 2016,
to facilitate the orderly wind-down of their business operations.
The petitions were signed by Paul Buxbaum, president and chief
executive officer.

Hampshire Group disclosed $25.9 million in assets and $41.8
million
in liabilities.  Brands listed under $50 million in both assets
and
debts.  International listed under $50,000 in assets and under $50
million in liabilities.  

Michael David Debaecke, Esq., at Blank Rome LLP, serves as counsel
to the Debtors.

An Official Committee of Unsecured Creditors has been appointed in
the Chapter 11 case.


HAMPSHIRE GROUP: Seeks to Sell James Campbell Assets
----------------------------------------------------
BankruptcyData.com reported Hampshire Group filed with the U.S.
Bankruptcy Court a motion for the sale of property free and clear
of liens and for entry of orders (i) (a) approving bid procedures
for the Debtors' James Campbell assets; (b) approving notice
procedures for the solicitation of bids, an auction and the
assumption and assignment of any executory contracts and unexpired
leases in connection therewith; (c) scheduling an auction for the
sale and (ii) approving the sale of the James Campbell assets. The
motion explains, "Debtor HGL, as buyer, and Maverick J and Maverick
J, SPE, as sellers, entered into an Installment Purchase and Sale
Agreement in connection with HGL's purchase of assets relating to
the James Campbell Brand. The Installment Purchase and Sale
Agreement called for installment payments aggregating $1,250,000,
plus the assumption of certain liabilities, plus the payment of
Excess Payments equal to 5% of annual Net Sales in excess of
$5,000,000 commencing on December 31, 2013 and ending on December
31, 2018, until such time when Maverick J has received an aggregate
of $2,500,000 in purchase price, at which time, the percentage of
Net Sales to be paid on Excess Payments shall be reduced to 2.5%.
Once HGL had paid an aggregate of $1,250,000 in purchase
consideration, title to the James Campbell Brand was to be conveyed
to HGL….All interested bidders will be required to submit a
deposit in the amount of $75,000 in connection with their bids.
Initial Bids must be received by the Bid Deadline of January 6,
2017. If more than one Qualified Bid is received by the proposed
January 6, 2017 Bid Deadline, the Debtors currently propose to hold
an auction of the James Campbell Assets on or about January 9,
2017."

                            About Hampshire Group, Limited

New York-based Hampshire Group, Limited (OTC Markets: HAMP) is a
provider of fashion apparel across a broad range of product
categories, channels of distribution and price points.  As a
holding company, the Company operates through its wholly-owned
subsidiaries, Hampshire Brands, Inc. and Hampshire International,
LLC.  

Hampshire Group, Limited and two affiliates -- Hampshire Brands and
Hampshire International -- sought Chapter 11 bankruptcy protection
(Bankr. D. Del. Case Nos. 16-12634 to 16-12636) on Nov. 23, 2016,
to facilitate the orderly wind-down of their business operations.
The petitions were signed by Paul Buxbaum, president and chief
executive officer.

Hampshire Group disclosed $25.9 million in assets and $41.8 million
in liabilities.  Brands listed under $50 million in both assets and
debts.  International listed under $50,000 in assets and under $50
million in liabilities.  

Michael David Debaecke, Esq., at Blank Rome LLP, serves as counsel
to the Debtors.

The U.S. Trustee for Region 3 has appointed five creditors to serve
in the official unsecured creditors committee in the case.


HAMPSHIRE GROUP: US Trustee & Committee Object to Campbell Sale
---------------------------------------------------------------
BankruptcyData.com reported that the U.S. Trustee assigned to the
Hampshire Group case and the official committee of unsecured
creditors filed with the U.S. Bankruptcy Court separate objections
to the Debtors' motion to shorten notice and schedule a hearing on
motion approving bid procedures for James Campbell assets;
approving notice procedures for the solicitation of bids and an
auction; scheduling an auction for the sale of the James Campbell
assets and approving the sale of the James Campbell assets. The
Trustee asserts, "Both the Motion and the Bid Procedures Motion
will affect every creditor and party in interest in this case.
There does not appear to be any need for urgency in this matter and
no cause is identified in the Motion other than an implicit desire
to save expenses. Neither the Motion nor the Bid Procedures Motion
is accompanied by any supporting declaration. The Bid Procedures
Motion does not identify a buyer, nor does it disclose a purchase
price. The Debtors have not filed their Statements and Schedules.
The filing of the Motions and the Shorten Time Motion on the
afternoon before Christmas Eve when the Court was closed strongly
suggests the Motions were filed strategically at this time to avoid
the scrutiny of objection and to effectively limit notice. It is
well known that at this time of year many businesses are closed
entirely until January 3, 2017 or working with short staffs. Filing
of the Motions on the eve of a major holiday accompanied by a
shorten time request is not emergent but is contrived and designed
to avoid due process as a practical matter."

                   About Hampshire Group, Limited

New York-based Hampshire Group, Limited (OTC Markets: HAMP) is a
provider of fashion apparel across a broad range of product
categories, channels of distribution and price points.  As a
holding company, the Company operates through its wholly-owned
subsidiaries, Hampshire Brands, Inc. and Hampshire International,
LLC.  

Hampshire Group, Limited and two affiliates -- Hampshire Brands and
Hampshire International -- sought Chapter 11 bankruptcy protection
(Bankr. D. Del. Case Nos. 16-12634 to 16-12636) on Nov. 23, 2016,
to facilitate the orderly wind-down of their business operations.
The petitions were signed by Paul Buxbaum, president and chief
executive officer.

Hampshire Group disclosed $25.9 million in assets and $41.8 million
in liabilities.  Brands listed under $50 million in both assets and
debts.  International listed under $50,000 in assets and under $50
million in liabilities.  

Michael David Debaecke, Esq., at Blank Rome LLP, serves as counsel
to the Debtors.

The U.S. Trustee for Region 3 has appointed five creditors to serve
in the official unsecured creditors committee in the case.


HAPPY JACK'S: Taps McPherron Skiles as Accountants
--------------------------------------------------
Happy Jack's Petroleum, Inc. seeks authorization from the U.S.
Bankruptcy Court for the District of Nebraska to employ McPherron,
Skiles & Loop, CPAs, P.C. as accountants.

The Debtor requires McPherron Skiles to:

   (a) advise and consult with the Debtor concerning the Debtor's
       financial matters, including:

        -- preparation of monthly financial statements and balance

           sheets;

        -- preparation and analysis of cash flow;

        -- preparation, reporting and payment of federal, state
           and local income taxes, sales taxes, employment taxes,
           and similar requirements;

        -- inventory supervision, accounts receivable and accounts

           payable analysis and control;

        -- payroll and employee benefit supervision and analysis;

        -- monthly and quarterly reporting to the Court and such
           other federal and state agencies as may require regular

           financial reports; and

        -- any similar financial supervision, reporting,
           management or analysis as may be required;

   (b) advise, appear for, and represent the Debtor's interest in
       its communications with federal, state or local taxing
       authorities; and

   (c) provide financial documentation, preparation, reporting, or

       analysis as may be needed by the Debtor, the Court, or
       approved counsel for the Debtor.

The Debtor desires to employ McPherron Skiles with reasonable fees
to be determined by the Court. No compensation will be paid by the
Debtor to McPherron Skiles for representation of the Debtor except
upon Application or notice to and approval by the Bankruptcy
Court.

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

Doug Skiles of McPherron Skiles, 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.

McPherron Skiles can be reached at:

       Doug Skiles
       MCPHERRON, SKILES & LOOP, CPAS, P.C.
       121 S Jeffers St.
       North Platte, NE 69101
       Tel: (308) 532-7525

Happy Jack's Petroleum, Inc. dba Happy Jack's, dba Happy Jack's C
Store, dba Happy Jack's Travel Stop, based in Brule, Nebr., filed a
Chapter 11 petition (Bankr. D. Nebr. Case No. 16-41395) on
September 16, 2016. Hon. Thomas L. Saladino presides over the case.
William L. Biggs, Jr., Esq. and Frederick D. Stehlik, Esq. of Gross
& Welch, P.C., L.L.O. serve as bankruptcy counsels.

In its petition, the Debtor estimated $1 million to $10 million in
both assets and liabilities.  The petition was signed by Wade Hill,
vice president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/neb16-41395.pdf


HILTON GRAND: S&P Raises Rating on Sr. Unsecured Debt to BB+
------------------------------------------------------------
S&P Global Ratings said that it has reviewed its recovery and
issue-level ratings on Hilton Grand Vacations Inc. that were
labeled as "under criteria observation" (UCO) after publishing its
revised recovery ratings criteria on Dec. 7, 2016.  With S&P's
criteria review complete, it is removing the UCO designation from
these ratings and lowering its debt ratings on Hilton Grand
Vacations' $200 million senior secured revolving credit facility
and $200 million senior secured term loan to 'BBB-' from 'BBB'
because S&P now caps issue ratings for speculative-grade issuers
(other than secured debt of regulated utilities and real estate
firms) at 'BBB-', regardless of S&P's recovery rating.  This change
deemphasizes the weight recovery plays in notching up issue ratings
for issuers near the investment-grade threshold, since recovery is
a smaller component of credit risk when default risk is more remote
particularly considering recovery prospects may be less predictable
and more variable for these issuers.  Importantly, this revision
does not reflect a change in S&P's assessment of the company's
default risk, which is indicated by S&P's corporate credit rating,
or its opinion of recovery given default, which is indicated by
S&P's recovery ratings.

S&P's recovery rating on Hilton Grand Vacations' senior secured
facilities remains '1' indicating S&P's expectations for very high
(90%-100%) recovery in a simulated payment default scenario.

Additionally, S&P raised the rating on the company's $300 million
senior unsecured notes due 2024 to 'BB+' from 'BB'.  S&P also
revised the recovery rating on this debt to '4' from '5'.  The '4'
recovery rating indicates S&P's expectation for average (30%-50%;
upper end of the range) recovery in the event of a payment
default.

These rating actions stem solely from the application of S&P's
revised recovery criteria and do not reflect any change in its
assessment of the corporate credit ratings on issuers of the
affected debt issues.

RATINGS LIST

Issue-Level Ratings Lowered; Recovery Ratings Unchanged

                                To        From
Hilton Grand Vacations Borrower LLC
Senior Secured                 BBB-      BBB
  Recovery Rating               1         1

Issue-Level Rating Raised; Recovery Rating Revised

                               To        From
Hilton Grand Vacations Borrower LLC
Hilton Grand Vacations Borrower Inc.
Senior Unsecured              BB+       BB
  Recovery Rating              4H        5H



HOOVER GROUP: S&P Revises Outlook to Negative & Affirms 'B' CCR
---------------------------------------------------------------
S&P Global Ratings said that it revised the outlook on Houston,
Texas-based Hoover Group Inc. to negative from stable and affirmed
its 'B' corporate credit rating on the company.

At the same time, S&P reviewed its recovery and issue-level ratings
on the company's senior secured credit facility (consisting of a
$30 million revolver due in 2020 and a
$225 million term loan due in 2021) that were labeled under
criteria observation (UCO) after publishing S&P's revised recovery
ratings criteria on Dec. 7, 2016.  With S&P's criteria review
complete, it removed the UCO designation from these ratings and
affirmed the 'B' issue-level ratings on the debt issues.  The
recovery ratings are unchanged.

The negative outlook reflects S&P's expectation that Hoover's
leverage will remain over 6x through 2017 as a result of continued
weakness in its oil and gas end markets.  Although the merger with
Ferguson and CCC effectively doubles the size and cash flow of the
business, S&P expects the operating environment to remain soft for
the combined business over the next 12 months, resulting in
leverage above 6x during this period.  Under S&P's base-case
forecast, it expects revenue to decline 15%-20% in 2016 and for
growth to be flat to slightly negative in 2017, augmented by modest
cost savings benefits from the merger integration.  As a result,
S&P expects leverage to be in the mid-6x area at the end of 2016,
improving slightly to the low-6x area by the end of 2017. These
levels are weak compared to S&P's 6.5x downgrade threshold, leaving
the company with limited cushion for further operational weakness.
S&P expects leverage to remain high but for the company to generate
modest positive FOCF and maintain an adequate cushion relative to
its maximum consolidated net leverage covenant over the next 12
months.

Ferguson and CCC were wholly owned subsidiaries of Brambles Ltd.
Ferguson is an internationally focused provider of offshore cargo
carrying units (CCUs), accommodation units, and workspace modules
to the offshore energy market, with a fleet size of about 20,000
units.  CCC is the global leader in providing packaging for
handling spent catalyst for the refining and petrochemical markets
in North America, Europe, and Asia, with a fleet size of about
25,000 units.

Although the merger of Hoover, Ferguson, and CCC results in
improved geographic and product diversity for the combined entity,
the company continues to operate in the highly competitive and
fragmented equipment rental industry with significant exposure to
highly cyclical end-markets.  Additionally, despite an increase in
the combined company's revenue base, its scale remains smaller and
its scope of operations narrower than those of larger equipment
rental peers.  S&P also expects the combined entity to display a
slightly weaker margin profile than the legacy Hoover business,
given competitive pressures experienced in the industry over the
past year.

S&P's base-case forecast assumes:

   -- Real domestic GDP growth of 1.6% in 2016 and 2.4% in 2017.

   -- Pro forma revenue declines of 15%-20% in 2016 given the
      challenging end-market environment and industry pricing
      pressures.  S&P expects revenue to be flat to down slightly
      in 2017, given its expectation for continued softness in key

      end markets;

   -- EBITDA margins are in the mid-30% range through 2017 because

      of continued pricing pressure, partially offset by modest
      cost savings from the business combination;

   -- Capital spending of roughly $20 million annually, as S&P
      expects the company to reduce spending given the increased
      fleet size from the merger transaction; and

   -- Modest bolt-on acquisitions.

These assumptions result in these credit measures:

   -- Total debt to EBITDA in the mid-6x area at the end of 2016,
      gradually improving to the low-6x area by the end of 2017
      and funds from operations (FFO) to debt below 12% through
      2017.

S&P assesses Hoover's liquidity as adequate.  S&P expects the
company's sources of liquidity, including cash and revolving
facility availability, to be at least 1.2x its uses over the next
12 months and anticipate that its net sources will remain positive
even if forecast EBITDA declines by 15%.  S&P believes that the
qualitative factors related to Hoover's liquidity, such as its
standing in the credit markets, risk management, covenant headroom,
and relationships with its banks all support S&P's adequate
assessment.

Principal liquidity sources:

   -- S&P's expectation for FFO of about $30 million annually;
   -- Modest availability under the company's $30 million
      revolving credit facility; and
   -- Minimal cash on hand.

Principal liquidity uses:

   -- Estimated net capital spending averaging about $20 million
      annually;
   -- Modest working capital outflow;
   -- Modest scheduled annual debt amortization; and
   -- Potential for small, bolt-on acquisitions.

The negative outlook reflects the potential that S&P could lower
the ratings over the next 12 months if credit measures continue to
worsen from already elevated levels.  S&P's forecast assumes
continued softness in end markets over the next 12 months, which
could limit the company's ability to generate positive FOCF,
reducing its liquidity position and undermining its ability to
improve leverage metrics.

S&P could lower the rating if it forecasts total debt to EBITDA
above 6.5x with limited prospects for improvement as a result of a
decline in the company's operating performance or if management
adopts a more aggressive financial policy (which may include
larger-than-expected acquisitions or distributions to its sponsor).
In addition, S&P could lower the rating if it expects the company
to face liquidity constraints, such that it expects it to generate
negative FOCF on a sustained basis or face thinning cushion under
its covenant.

S&P could revise the outlook to stable in the next 12 months if it
is increasingly confident in the company's ability to generate free
cash flow for debt reduction, driven by stability in its end
markets, such that S&P expects debt to EBITDA will be below 6.5x on
a sustained basis.


HPA NORTHRIDGE: Hires Backenroth Frankel as Counsel
---------------------------------------------------
HPA Northridge LLC seeks authorization from the U.S. Bankruptcy
Court for the Southern District of New York to employ Backenroth
Frankel & Krinsky, LLP as counsel.

The professional services Backenroth Frankel will be required to
render include, but are not limited to:

    -- providing the Debtor with legal counsel regarding her   
       powers and duties as a debtor-in possession in the
       continued operation of its business and management of its
       property during the Chapter 11 case;

    -- preparing on behalf of the Debtor all necessary
       applications, answers, orders, reports, and other legal
       documents which may be required with the Chapter 11 case;

    -- providing the Debtor with legal services regarding
       formulating and negotiating a plan of reorganization with
       creditors; and

    -- performing such other legal services for the Debtor as
       required during the Chapter 11 case, including but not
       limited to, the institution of actions against third
       parties, objections to claims, and the defense of actions
       which may be brought by third parties against the Debtor.

Backenroth Frankel will be paid at these hourly rates:

       Abraham J. Backenroth     $550
       Mark A. Frankel           $505
       Scott A. Krinsky          $485
       Paralegal                 $125

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

Backenroth Frankel was paid a $25,000 retainer by the Debtor before
the Petition Date. A portion of that amount was incurred for
pre-bankruptcy consultations, petition, and pleading preparation.
Backenroth Frankel agrees to apply any interim and final fee awards
against the unused retainer as such awards are made, before seeking
additional funds from the Debtor to cover such awards.

Mark A. Frankel, member of Backenroth Frankel, 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.

Backenroth Frankel can be reached at:

       Mark A. Frankel
       BACKENROTH FRANKEL & KRINSKY, LLP
       800 Third Avenue, 11th Floor
       New York, NY 10022
       Tel: (212) 593-1100
       Fax: (212) 644-0544
       E-mail: mfrankel@bfklaw.com

HPA Northridge LLC, based in New York, N.Y., filed a Chapter 11
petition (Bankr. S.D. N.Y. Case No. 16-13376) on December 2, 2016.
The Hon. Stuart M. Bernstein presides over the case.  Mark A.
Frankel, Esq. of Backenroth Frankel & Krinsky, LLP  serves as
bankruptcy counsel.

In its petition, the Debtor declared $4.27 million in total assets
and $2.64 million in total liabilities.  The petition was signed by
Joel I. Beeler, manager.

A list of the Debtor's two unsecured creditors is available for
free at http://bankrupt.com/misc/nysb16-13376.pdf


HPIL HOLDING: Sells $60,000 Convertible Note to KCG
---------------------------------------------------
HPIL Holding entered into an Equity Purchase Agreement with Kodiak
Capital Group, LLC, on Aug. 12, 2016.  The Company and KCG executed
an Amended and Restated Equity Purchase Agreement dated Dec. 27,
2016, which completely restates and makes minor revisions to the
Original Equity Purchase Agreement, such as correcting the stated
capitalization of the Company and extending the period of the
Original Equity Purchase Agreement.  The Company and KCG also
entered into a Registration Rights Agreement dated Aug. 12, 2016,

Pursuant to the Equity Purchase Agreement, the Company, at its sole
and exclusive option, may issue and sell to KCG, from time to time
as provided therein, and KCG would purchase from the Company shares
of the Company's common stock equal to a value of up to $5,000,000.
Pursuant to the Registration Agreement, the Company has agreed to
provide certain registration rights under the Equity Act of 1933,
as amended, and applicable state laws with respect to all Shares
issued in connection with the Equity Purchase Agreement.

Subject to the terms and conditions of the Equity Purchase
Agreement, the Company, at its sole and exclusive option, may issue
and sell to KCG, and KCG will purchase from the Company, the Shares
upon the Company's delivery of written notices to KCG.  The
aggregate maximum amount of all purchases that KCG shall be
obligated to make under the Equity Purchase Agreement shall not
exceed $5,000,000.  Once a written notice is received by KCG, it
will not be terminated, withdrawn or otherwise revoked by the
Company.  The purchase price per share for each purchase of Shares
to be paid by KCG will be 70% 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 Equity
Purchase Agreement).  KCG 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).

Additionally, on June 28, 2016, upon the signing of a Term Sheet
for the Equity Purchase Agreement, the Company issued to KCG a
Convertible Promissory Note in the principal amount of $215,000 as
payment of a commitment fee to induce KCG to enter into the
Agreements.  The Note is due in full on or before Jan. 28, 2017.
The Company may prepay this Note in whole or in part at any time
following at least 15 and no more than 60 days' advance written
notice to the Holder, provided that the Holder shall retain all
rights of conversion until the date of repayment, notwithstanding
the pendency of any prepayment notice.

KCG has the right to convert all or any portion of the note balance
at any time at a conversion price per share of 50% of the Current
Market Price (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.  Upon an Event of Default
(as defined in the Note), the principal amount increases to
$250,000 and the conversion price will decrease to 25% of the
Current Market Price (as defined and calculated pursuant to the
Note).

On Dec. 27, 2016, the Company and KCG entered an Amendment and
Waiver, pursuant to which KCG waived certain defaults of the
Company under the Note and amended the Note to delete a default
provision requiring the Company to file a registration statement by
a certain date, amend a default provision to reflect the Company's
listing on the OTCPink market, and extend the maturity date to July
28, 2017.

           Securities Purchase Agreement with Kodiak

On Dec. 27, 2016, the Company and KCG entered into a Securities
Purchase Agreement, pursuant to which the Company sold to KCG a
convertible promissory note in the amount of $60,000 for a purchase
price of $50,000.  Pursuant to the Securities Purchase Agreement,
the Company issued to KCG a 15% Convertible Note in the principal
amount of $60,000.  The December Note accrues interest at the rate
of 15% per year and is due in full on or before
Dec. 27, 2017.  The Company may prepay this Note in whole at any
time prior to six months from the issue date on at least 5 Trading
Days (as defined in the December Note) but not more than 10 Trading
Days notice, provided that the Holder will retain all rights of
conversion until the date of repayment, notwithstanding the
pendency of any prepayment notice.

KCG has the right to convert all or any portion of the note balance
at any time at a conversion price per share of 40% lowest sale
price for the Company's Common Stock during the thirty (30)
consecutive Trading Days immediately preceding the Conversion Date
(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 and December Note contain other
provisions customary to transactions of this nature.

                      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.

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.

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


IMPLANT SCIENCES: Posts $27M Net Loss for Sept. 2016 Quarter
------------------------------------------------------------
Implant Sciences Corporation filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q for the quarterly
period ended Sept. 30, 2016.

The Company posted a net loss of $27,184,000 for the quarter
compared to a net loss of $911,000 for the same period in 2015.
Total revenues were $8,062,000 for the quarter compared to
$14,393,000 for the same period a year ago.

Implant reported total assets of $14,161,000 against total
liabilities of $110,964,000 and stockholders' deficit of
$96,803,000 as of Sept. 30.

A copy of the report is available at https://is.gd/NeB3wP

                  About IMX Acquisition

IMX Acquisition Corp., also known as Ion Metrics Inc., and its
affiliates, comprise a leading designer and manufacturer of
systems and sensors that detect trace amounts of explosives and
drugs.  Their products, which include handheld and desktop
detection devices, are used in a variety of security, safety,
and defense industries, including aviation, transportation, and
customs and border protection. The Debtors have sold more than
5,000 of their detection products to customers such as the
United States Transportation Security Administration, the
Canadian Air Transportation Security Authority, and major
airports in the European Union.

IMX Acquisition Corp. sought Chapter 11 protection (Bankr. D. Del.
Case No. 16-12238) on Oct. 10, 2016. Its affiliates, Implant
Sciences, C Acquisition Corp. and Accurel Systems International
Corp. also sought Chapter 11 protection.  The cases are assigned
to Judge Brendan Linehan Shannon.

IMX estimated assets and liabilities in the range of $100 million
to $500 million. The Debtors tapped Paul V. Shalhoub, Esq. and
Debra C. McElligott, Esq. and Jennifer J. Hardy, Esq. at Willkie
Farr & Gallagher, LLP as counsel.

The petitions were signed by William J. McGann, president.

Andrew Vara, acting U.S. trustee for Region 3, on Oct. 24, 2016,
appointed Harold Coe and four others to serve on the official
committee of equity security holders.  Co-counsel to the
Official Committee of Equity Security Holders are William R.
Baldiga, Esq., and Gerard T. Cicero, Esq., at Brown Rudnick LLP,
in New York, and Sunni P. Beville, Esq., at Brown Rudnick LLP, in
Boston, Massachusetts; and Mark Minuti, Esq., at Saul Ewing LLP,
in Wilmington, Delaware. The Equity Committee tapped FTI
Consulting,
Inc. as financial advisor.

Tannor Partners Credit Fund, LP., the New DIP Lender, is
represented in the case by Andrew M. Felner, Esq., at Sheppard,
Mullin, Richter & Hampton, LP.


IMPLANT SCIENCES: Sale to L-3 Okayed; Deal to Close by Jan. 5
-------------------------------------------------------------
Implant Sciences Corporation said in a regulatory filing with the
Securities and Exchange Commission that the Delaware bankruptcy
court on Dec. 16, 2016, issued an order authorizing the sale of
substantially all of the Company's assets free and clear of liens,
claims, encumbrances and other interests to L-3 Communications
Corporation; authorized and approved the Company's performance
under the asset purchase agreement entered into with L-3; approved
the assumption and assignment of certain of our contracts and
unexpired leases.  

In conjunction with this order, on Dec. 16, 2016, the Company
amended the asset purchase agreement with L-3 whereby both parties
agreed that the closing date will be Jan. 5, 2017.

On Oct. 10, 2016, the Company and its subsidiaries entered into an
asset purchase agreement to sell the explosives trace detection
assets to L-3 Communications for $117.5 million in cash, plus the
assumption of specified liabilities, subject to adjustment.  The
asset purchase agreement constitutes a "stalking horse bid" in a
sale process being conducted under Section 363 of the U.S.
Bankruptcy Code.  As the Stalking horse bidder, L-3 will be
entitled to a break-up fee and expense reimbursement if it does not
prevail as the successful bidder at any subsequent Bankruptcy Court
auction.  L-3's role as the stalking horse bidder upon Bankruptcy
Court Appeal, and the sale itself, are subject to approval by the
Bankruptcy Court.  

"We believe that the proceeds from the sale of our explosives
detection assets to L-3 and the assumption by L-3 of certain
liabilities will be sufficient to pay the New DIP Loan, related
expenses and $425,000 exit fee; all secured and unsecured creditor
claims; financial advisor and legal expenses associated with the
sale; payment due under our Change of Control Plan; and, legal fees
and other expenses associated with the bankruptcy filing," the
Company said.

Implant also said its Board of Directors is exploring opportunities
to provide optionality to shareholders following the anticipated
successful completion of the ETD asset sale to L-3.  

"We believe the economics of the sale will ensure that creditors
and shareholders will receive economic benefit. We intend to
provide alternatives as part of the plan to emerge from voluntary
Chapter 11 bankruptcy that would recognize the value of a publicly
listed shell. These alternatives may include the merger of an
operating entity into the shell or a liquidation of the company,
which determination is subject to approval by our shareholders,"
the Company said.

A plan of reorganization must be filed with the court on February
7, 2017.

As reported by the Troubled Company Reporter, in connection with
the Chapter 11 filings, Implant filed a motion seeking the approval
of the bankruptcy court for a superpriority senior secured loan of
$5.7 million between the Company and DIP SPV I, L.P., as the
debtor-in-possession lender pursuant to a senior secured
superpriority debtor-in-possession loan and security agreement
entered into by the Debtors and the DIP Lender on October 10, 2016.
The DIP loan would bear interest at 12% and included a one-time
closing fee of $199,500 on the closing date of the DIP Loan and an
exit fee equal to $427,500, less any interest, other that default
interest (which is at a rate of 24%), paid to the DIP Lender as of
the termination date of the DIP Loan. The DIP Loan is payable in
full upon the consummation of the sale under the asset purchase
agreement with L-3 Communications or a sale to any other winning
bidder in the Bankruptcy Court auction.  

On October 13, 2016, Implant borrowed $1,500,000 under the DIP
Loan.  The use of proceeds from the DIP Loan would be limited to
working capital and other general corporate purposes consistent
with the budget that the Company presented to the DIP Lender,
including payment of costs and expenses related to the
administration of the bankruptcy proceedings and payment of other
expenses as approved by the bankruptcy court.  Unless otherwise
extended, the DIP Loan would mature six months from the anniversary
date of the agreement, subject to certain provisions that may lead
to an earlier termination.

The TCR also reported that on Nov. 7, 2016, Implant terminated the
Senior Secured, Super-Priority Debtor-in-Possession Loan and
Security Agreement, dated as of Oct. 10, 2016, with the original
lender, DIP SPV I, L.P.  In connection with such termination, the
Company paid $1,610,769 to the Original DIP Lender and its advisors
to satisfy outstanding obligations under the Original DIP
Agreement, including $74,354 for expense reimbursement for the
Original DIP Lender's advisors.

On November 7, 2016, Implant entered into a replacement Senior
Secured, Super-Priority Debtor-in-Possession Loan and Security
Agreement with Tannor Partners Credit Fund, LP, the New DIP Lender,
which DIP Agreement was approved by the Bankruptcy Court on an
interim basis pursuant to an order dated as of the Effective Date
for the initial loan amount of $5,700,000.  Under the New DIP
Agreement, subject to the terms and conditions thereof, the New DIP
Lender agreed to lend up to a total of $8.0 million to the
Borrowers, with the initial installment of $5,700,000 payable upon
the Bankruptcy Court entering the interim order for the New DIP
Agreement and the remaining $2,300,000 payable upon the Bankruptcy
Court entering the final order for the New DIP Agreement.  

On November 8, 2016, Implant borrowed $5,700,000 under the New DIP
Agreement and borrowed an additional $2,300,000 on November 30,
2016.  As of December 9, 2016, the Company's obligations under the
New DIP Agreement for principal and for accrued interest were
$8,000,000 and $25,600, respectively. The New DIP Agreement is
substantially identical to the Original DIP Agreement, except for
the amounts of the closing fee and the exit fee.

The loans under the New DIP Agreement will accrue interest of 12%
per annum, and shall be subject to a default interest rate of 12%
above the applicable non-default rate (i.e., an aggregate of 24%
per annum) at any time when there is an event of default under the
New DIP Agreement.  Implant has agreed in the New DIP Agreement to
pay fees to the New DIP Lender in an aggregate amount of 5.75% of
the maximum loan amount, regardless of how long the New DIP Loan
was outstanding consisting of a closing fee of $35,000 at the time
the initial loan is made and an exit fee upon the termination of
the New DIP Agreement of $425,000, minus any interest, other than
default interest, paid to the New DIP Lender.   Implant is also
required to reimburse the New DIP Lender for its fees and expenses
in connection with the New DIP Agreement and the loans thereunder.
Interest on the loans and the expense reimbursement are payable
monthly in arrears.

The loans under the New DIP Agreement have super-priority security
status and are ahead of Implant's other secured obligations owed to
the investors under the Note Purchase Agreement, dated March 19,
2014, as amended, between Implant, the investors named therein and
BAM Administrative Services LLC, as administrative agent for the
investors thereunder, and holders of the notes under each of the
Credit Agreements, dated as of September 4, 2009, as amended, with
DMRJ Group LLC and the Note and Warrant Purchase Agreement dated as
of December 10, 2008, as amended, with DMRJ Group LLC, and Montsant
Partners LLC, as partial assignee thereof.

The loans under the New DIP Agreement and all other obligations are
due and payable (i) upon the occurrence of an event of default that
is not cured within the applicable cure periods and for which the
New DIP Lender has given notice to accelerate our obligations under
the New DIP Agreement, (ii) the entry of an order converting the
Chapter 11 Case to a case under chapter 7 of the Bankruptcy Code,
(iii) the entry of an order in the Chapter 11 Case appointing a
chapter 11 trustee or examiner, (iv) if the interim order for the
New DIP Agreement is modified at the final hearing for the New DIP
Agreement in a manner unacceptable to the New DIP Lender, (v) the
effective date of a chapter 11 plan in the Chapter 11 Case, (vi)
the approval by the Bankruptcy Court of an alternative financing
transaction transferring the collateral other than the sale of the
assets to L-3 Communications under the asset purchase agreement,
dated as of October 10, 2016, or to another winning bidder in the
Bankruptcy auction process, (vii) the date of the closing of the
Sale and (viii) the first business day after the 6 month
anniversary of the New DIP Agreement.  The loans can be prepaid at
any time and mandatory prepayments are required upon the
disposition of assets outside of the ordinary course, the receipt
of extraordinary receipts or the incurrence of any additional
indebtedness.

                       About IMX Acquisition

IMX Acquisition Corp., also known as Ion Metrics Inc., and its
affiliates, comprise a leading designer and manufacturer of
systems and sensors that detect trace amounts of explosives and
drugs.  Their products, which include handheld and desktop
detection devices, are used in a variety of security, safety,
and defense industries, including aviation, transportation, and
customs and border protection. The Debtors have sold more than
5,000 of their detection products to customers such as the
United States Transportation Security Administration, the
Canadian Air Transportation Security Authority, and major
airports in the European Union.

IMX Acquisition Corp. sought Chapter 11 protection (Bankr. D. Del.
Case No. 16-12238) on Oct. 10, 2016. Its affiliates, Implant
Sciences, C Acquisition Corp. and Accurel Systems International
Corp. also sought Chapter 11 protection.  The cases are assigned
to Judge Brendan Linehan Shannon.

IMX estimated assets and liabilities in the range of $100 million
to $500 million. The Debtors tapped Paul V. Shalhoub, Esq. and
Debra C. McElligott, Esq. and Jennifer J. Hardy, Esq. at Willkie
Farr & Gallagher, LLP as counsel.

The petitions were signed by William J. McGann, president.

Andrew Vara, acting U.S. trustee for Region 3, on Oct. 24, 2016,
appointed Harold Coe and four others to serve on the official
committee of equity security holders.  Co-counsel to the
Official Committee of Equity Security Holders are William R.
Baldiga, Esq., and Gerard T. Cicero, Esq., at Brown Rudnick LLP,
in New York, and Sunni P. Beville, Esq., at Brown Rudnick LLP, in
Boston, Massachusetts; and Mark Minuti, Esq., at Saul Ewing LLP,
in Wilmington, Delaware. The Equity Committee tapped FTI
Consulting,
Inc. as financial advisor.

Tannor Partners Credit Fund, LP., the New DIP Lender, is
represented in the case by Andrew M. Felner, Esq., at Sheppard,
Mullin, Richter & Hampton, LP.


IRENE STACY: Unsecureds To Get Share of Real Estate Sale Proceeds
-----------------------------------------------------------------
Irene Stacy Community Mental Health Center filed with the U.S.
Bankruptcy Court for the Western District of Pennsylvania an
amended disclosure statement to accompany the Debtor's amended
Chapter 11 plan of liquidation dated Dec. 14, 2016.

Class 4 consists of all allowed General Unsecured Claims --
estimated at $513,964.73.  Unless the plan administrator and the
holder of any of the claim agree to a different treatment, each
holder of an Allowed Class 4 Claim will receive its pro rata share
of proceeds of the sale of the Debtor's real estate after payment
in full of all allowed administrative, priority, administrative
convenience, and secured claims.

Any recovery on any recovery action or cause of action, brought by
the Plan Administrator, after the Effective Date, will be used for
the benefit Class 4 and the net amount recovery (after reasonable
expenses of recovery) will be used to fund additional distributions
to Class 3, but in no event more than 100% of the Allowed Claims of
Class 4.  Class 4 is Impaired, and the holders of Class 4 Claims
are entitled to vote to accept or reject the Plan.

The source of the money to fund the payments under this Plan will
come from the Debtor's sale of the Hillvue Property and North
Street Property, the lease payments from the North Street Property
(if any), plus any Cash the Debtor currently holds.  The sale of
real estate will be subject to the terms of the Plan, affording any
buyer and Debtor the advantages and protections of selling the Real
Estate pursuant to Section 1146 of the U.S. Bankruptcy Code and the
terms of the Plan.

The Amended Disclosure Statement is available at:

           http://bankrupt.com/misc/pawb15-24605-343.pdf

The Plan was filed by the Debtor's counsel:

     Allison L. Carr, Esq.
     Robert S. Bernstein, Esq.
     BERNSTEIN-BURKLEY, PC
     707 Grant Street, 2200 Gulf Tower
     Pittsburgh, PA 15219
     Tel: (412) 456-8100
     Fax: (412) 456-8135
     E-mail: acarr@bernsteinlaw.com
             rbernstein@bernsteinlaw.com

                       About Irene Stacy

Irene Stacy Community Mental Health Center provided mental health
and rehabilitative services.

The Debtor sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. W.D. Pa. Case No. 15-24605) on Dec. 18, 2015.  The
petition was signed by Brent Olean, Board president.  

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

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


KENT MANOR: Arranges $100K Loan From Harford Hotel
--------------------------------------------------
Kent Manor Inn, LLC, asks the U.S. Bankruptcy Court for the
District of Maryland for authorization to obtain
Debtor-In-Possession Financing from Harford Hotel, LLC.

The Debtor sold certain property in an auction sale to Sandeep
Patel, in the amount of $4,110,000.  Closing on the sale of the
property is scheduled to occur on or before January 31, 2017.

The Debtor tells the Court that it requires financing in order to
continue operating its business.  The Debtor further tells the
Court that it is currently funding operations from its
post-petition revenues.  The Debtor contends that inasmuch as
December and January are the Debtor’s slowest months, the Debtor
requires debtor-in-possession financing in order to maintain
operations through Closing.

The relevant terms of the Post-Petition Credit Facility, among
others, are:

     (1) Loan Commitment: Up to $100,000.

     (2) Interest: 9% per annum.

     (3) Loan Origination Fee: Two percentage points of the
Principal Amount borrowed.

     (4) Optional Prepayment of Loans: Optional prepayment, without
penalty or premium.

     (5) Lies and Superpriority Claims: Super-priority lien
pursuant to sections 364(c)(1)-(2) and 364(d).

     (6) Collateral: All assets of the Borrower.

     (7) Maturity: The earlier of Closing on the sale of the
property, or February 28, 2017, unless extended by consent or Court
Order.

The Debtor's Preliminary Budget through January 31, 2017, provides
for total expenses in the amount of $111,705.15

The Debtor relates that it does not have sufficient time to attempt
to obtain unsecured credit or debt allowable as an administrative
expense under section 503(b)(1) of the Bankruptcy Code, or as a
junior lien on property of the Debtor, in an aggregate amount
sufficient and readily available to pay the expenses necessary to
maintain operations through Closing.  The Debtor further relates
that under the present circumstances, it does not believe it would
be able to obtain unsecured credit to fund its operations.  The
Debtor asserts that absent interim approval of the Post-Petition
Credit Facility, the preservation of the value of the Debtor’s
business and assets for the benefit of all parties will be
jeopardized.

A full-text copy of the Debtor's Motion, dated Dec. 27, 2016, are
available at
http://bankrupt.com/misc/KentManor2016_1618048_162.pdf

A full-text copy of the Credit Agreement, dated Dec. 27, 2016, is
available at
http://bankrupt.com/misc/KentManor2016_1618048_162_1.pdf

A full-text copy of the Preliminary Budget, dated Dec. 27, 2016, is
available at
http://bankrupt.com/misc/KentManor2016_1618048_162_2.pdf

                 About Kent Manor Inn, LLC

Kent Manor Inn, LLC, owns and operates the Kent Manor Inn, located
at 500 Kent Manor Drive, in Stevensville, Maryland.  The real
property consists of a historic, restored 1820s waterfront home,
situated on roughly 220 acres of woods and farmland.

Alan J. Michaels, William Lackey, III, and Laurie Sewell filed an
involuntary chapter 11 petition against Kent Manor Inn, LLC aka
Historic Kent Manor Inn (Bankr. D. Md. Case No. 16-18048) on June
14, 2016.  The petitioners were represented by Catherine Keller
Hopkin, Esq., Tydings & Rosenberg, LLP.

The Debtor is represented by James M. Greenan, Esq. and Steven L.
Goldberg, Esq., at McNamee, Hosea, Jernigan, Kim, Greenan & Lynch,
P.A.



KEY ENERGY: Contrarian Reports 11.8% Stake as of Dec. 15
--------------------------------------------------------
Contrarian Capital Management, L.L.C. and its affiliated entities
disclosed in a Schedule 13G filing with the Securities and Exchange
Commission that as of Dec. 15, 2016, they may be deemed to be the
beneficial owner of 2,376,935 shares -- roughly 11.8% -- of Key
Energy Services, Inc., common stock.  

They may be reached at:

         Jon R. Bauer
         Managing Member
         Contrarian Capital Management, L.L.C.
         411 West Putnam Avenue, Suite 425
         Greenwich, CT 06830

                       About Key Energy

Headquartered in Houston, Texas, Key Energy, Inc., claims to be the
largest domestic onshore, rig-based well servicing contractor based
on the number of rigs owned.  The Company provides a full range of
well services to major oil companies, foreign national oil
companies and independent oil and natural gas production companies
including Chevron Texaco Exploration and Production.

Each of Misr Key Energy Investments, LLC, Key Energy Services,
Inc., Key Energy Services, LLC, and Misr Key Energy Services, LLC,
filed a voluntary petition under Chapter 11 of the Bankruptcy Code
(Bankr. D. Del. Lead Case No. 16-12306) on Oct. 24, 2016.  Key's
other domestic and foreign subsidiaries are not part of the
bankruptcy filing.

As of the second quarter of 2016, the Company had approximately
$1.13 billion in total assets and approximately $1 billion in
aggregate funded debt.  As of the date of the Petition Date, the
Debtors hold approximately $29.8 million in encumbered,
unrestricted cash.  The Debtors have approximately $13.4 million of
trade debt and other debt owed to general unsecured creditors, as
disclosed in court papers.

The Debtors hired Sidley Austin LLP as general bankruptcy counsel;
Young, Conaway, Stargatt & Taylor, LLP, as Delaware counsel; PJT
Partners LP as investment bankers; Alvarez and Marsal North
America, LLC, as financial advisors; and Epiq Bankruptcy Solutions,
LLC, as notice, claims, solicitation and voting agent.

                          *     *     *

Key Energy filed for Chapter 11 pursuant to the terms of a plan
support agreement among Key, Platinum Equity and certain other
holders of its 6.75% Senior Notes due 2021, collectively holding
more than 89% of its outstanding Senior Notes, and certain lenders
holding more than 87% of the principal amount of loans outstanding
under Key's Term Loan Credit Agreement dated June 1, 2015.  The PSA
contemplates the reorganization of the Debtors pursuant to a
prepackaged plan of reorganization.  The Plan contemplates that
funded debt will be reduced from roughly $1 billion to
approximately $250 million.  Under the Joint Plan, Class 6 General
Unsecured Claims are unimpaired and will recover 100%.

The Debtors won confirmation of their bankruptcy-exit plan on Dec.
6, 2016.  They emerged from Chapter 11 on Dec. 15 and began trading
on the New York Stock Exchange under the ticker symbol "KEG".
Platinum Equity became the Company's largest shareholder.


KEY ENERGY: George Soros Reports 9.09% Stake as of Dec. 15
----------------------------------------------------------
George Soros and his Soros Fund Management LLC disclosed in a
Schedule 13G filing with the Securities and Exchange Commission
that as of Dec. 15, 2016, the Soros entities may be deemed to be
the beneficial owner of 1,827,134 shares -- roughly 9.09% -- of Key
Energy Services, Inc., common stock.  This includes (A) 1,821,382
Shares and (B) 5,752 Shares issuable upon the exercise of warrants
beneficially owned by the Soros entities.  

Soros et al. may be reached at:

     George Soros
     Robert Soros
     SOROS FUND MANAGEMENT LLC
     250 West 55th Street, 38th Floor
     New York, NY 10019

                       About Key Energy

Headquartered in Houston, Texas, Key Energy, Inc., claims to be the
largest domestic onshore, rig-based well servicing contractor based
on the number of rigs owned.  The Company provides a full range of
well services to major oil companies, foreign national oil
companies and independent oil and natural gas production companies
including Chevron Texaco Exploration and Production.

Each of Misr Key Energy Investments, LLC, Key Energy Services,
Inc., Key Energy Services, LLC, and Misr Key Energy Services, LLC,
filed a voluntary petition under Chapter 11 of the Bankruptcy Code
(Bankr. D. Del. Lead Case No. 16-12306) on Oct. 24, 2016.  Key's
other domestic and foreign subsidiaries are not part of the
bankruptcy filing.

As of the second quarter of 2016, the Company had approximately
$1.13 billion in total assets and approximately $1 billion in
aggregate funded debt.  As of the date of the Petition Date, the
Debtors hold approximately $29.8 million in encumbered,
unrestricted cash.  The Debtors have approximately $13.4 million of
trade debt and other debt owed to general unsecured creditors, as
disclosed in court papers.

The Debtors hired Sidley Austin LLP as general bankruptcy counsel;
Young, Conaway, Stargatt & Taylor, LLP, as Delaware counsel; PJT
Partners LP as investment bankers; Alvarez and Marsal North
America, LLC, as financial advisors; and Epiq Bankruptcy Solutions,
LLC, as notice, claims, solicitation and voting agent.

                          *     *     *

Key Energy filed for Chapter 11 pursuant to the terms of a plan
support agreement among Key, Platinum Equity and certain other
holders of its 6.75% Senior Notes due 2021, collectively holding
more than 89% of its outstanding Senior Notes, and certain lenders
holding more than 87% of the principal amount of loans outstanding
under Key's Term Loan Credit Agreement dated June 1, 2015.  The PSA
contemplates the reorganization of the Debtors pursuant to a
prepackaged plan of reorganization.  The Plan contemplates that
funded debt will be reduced from roughly $1 billion to
approximately $250 million.  Under the Joint Plan, Class 6 General
Unsecured Claims are unimpaired and will recover 100%.

The Debtors won confirmation of their bankruptcy-exit plan on Dec.
6, 2016.  They emerged from Chapter 11 on Dec. 15 and began trading
on the New York Stock Exchange under the ticker symbol "KEG".
Platinum Equity became the Company's largest shareholder.


KEY ENERGY: Platinum Equity Reports 48.8% Stake as of Dec. 15
-------------------------------------------------------------
Tom Gores' PLATINUM EQUITY LLC disclosed in a Schedule 13G filing
with the Securities and Exchange Commission that the fund and its
affiliated entities as of Dec. 15, 2016, may be deemed to be the
beneficial owner of 9,800,630 shares -- roughly 48.8% -- of Key
Energy Services, Inc., common stock.  

They may be reached at:

         Eva M. Kalawski
         Platinum Equity Advisors, LLC
         360 North Crescent Drive, South Building
         Beverly Hills, CA 90210
         Tel: (310) 712-1850

They are represented by:

         Alison S. Ressler, Esq.
         Sullivan & Cromwell LLP
         1888 Century Park East
         Los Angeles, CA 90067
         Tel: (310) 712-6600

Mr. Gores is the Chairman and Chief Executive Officer of Platinum
Equity and may be deemed to beneficially own the Common Stock
beneficially owned by Platinum Equity.

On December 15, 2016, the Company and certain of its direct
subsidiaries emerged from bankruptcy pursuant to a joint
prepackaged plan of reorganization under chapter 11 of the United
States Bankruptcy Code.  Soter Capital, LLC had held $338,339,000
in principal amount of the Company's 6.75% Senior Unsecured Notes
due 2021, which were cancelled in the bankruptcy and exchanged for
shares of Common Stock.  Soter was also a party to the Backstop
Commitment Agreement, dated September 21, 2016, between the Company
and certain holders of the Senior Notes, pursuant to which the
Backstop Participants agreed to participate in the rights offerings
described below and to backstop their pro rata share of 100% of
such rights offerings.

On the Effective Date, Platinum Equity Advisors, LLC, a Delaware
limited liability company, and the Company entered into the
Platinum Letter Agreement, which provides, among other things, that
Platinum will cause each share of Common Stock that it beneficially
owns to be voted in proportion to votes cast by the stockholders of
the Corporation other than Platinum in connection with a vote as
described in Section 2.5 of the By-laws to remove, with or without
cause, a director appointed by the Other Backstop Parties.

Registration Rights Agreement

On the Effective Date, the Backstop Participants and the Company
entered into a registration rights agreement.  Pursuant to the
Registration Rights Agreement, the Company commits to file a resale
shelf registration statement covering all Registrable of each
Backstop Participant within 60 days after the Effective Date.  The
Company will use commercially reasonable efforts to cause such
shelf registration statement to be declared effective as promptly
as practicable and in no event later than 60 days after filing the
shelf registration statement and to keep such shelf registration
statement effective (subject to customary blackout periods) for so
long as any Backstop Party holds Registrable Securities.

Beginning 120 days after the Effective Date, to the extent the
Company does not have available such an effective shelf
registration statement, each Backstop Party that holds Registrable
Securities will have two demand registration rights per calendar
year (subject to customary blackout periods); provided that any
such demand must be for an offering of at least $12.5 million of
estimated gross proceeds (taking into account the requests of all
requesting Backstop Parties); provided, further, that in no event
will the Company be required to comply with more than one demand by
any Backstop Party (other than Soter, Advisors and its other
affiliates) in any six-month period.

The Company will be required to effect underwritten offerings
pursuant to the shelf takedowns and demands by the Backstop Parties
beginning 180 days after the Effective Date.  The Company will not
be required to facilitate an underwritten offering facilitated by
marketing efforts on the part of the Company -- Marketed
Underwritten Offering -- unless the proceeds to all requesting
Backstop Parties from such offering are at least $12.5 million.
Furthermore, the Company will not be required to effect (i) more
than two Marketed Underwritten Offerings in any calendar year or
more than six Marketed Underwritten Offerings in the aggregate, or
(ii) more than four underwritten offerings other than Marketed
Underwritten Offerings in any calendar year or more than eight
underwritten offerings that are not Marketed Underwritten Offerings
in the aggregate, in each case of (i) and (ii), as requested by any
Backstop Party other than the Platinum Parties.

The Backstop Parties have certain piggyback rights.  The
Registration Rights Agreement also includes customary
indemnification provisions.  The Registration Rights Agreement will
terminate with respect to any Backstop Party when such Backstop
Party ceases to hold or beneficially own any Registrable
Securities.

Corporate Advisory Services Agreement

On the Effective Date, pursuant to the Plan, the Company and
Advisors entered into a Corporate Advisory Services Agreement.
Pursuant to the Services Agreement, Platinum will provide certain
business advisory services to the Company, and the Company, as
consideration therefor, will pay Platinum an advisory fee of $2.75
million per year (subject to certain limitations and adjustments as
set forth therein).  In addition, the Company will reimburse
Platinum for ordinary course, reasonable and documented
out-of-pocket expenses of up to an aggregate amount of $375,000, on
an annual basis, subject to certain limitations set forth therein.

The Services Agreement will have an initial term commencing on the
Effective Date and ending on December 31, 2019.  Thereafter, the
independent members of the Board will have the option to renew the
Services Agreement for additional one-year terms, with each such
extended term ending on December 31 of the subsequent year.  The
Services Agreement may be terminated by Platinum upon 90 days'
written notice, and automatically terminates 45 days after the date
Platinum owns less than 33% of the outstanding shares of Common
Stock.

                       About Key Energy

Headquartered in Houston, Texas, Key Energy, Inc., claims to be the
largest domestic onshore, rig-based well servicing contractor based
on the number of rigs owned.  The Company provides a full range of
well services to major oil companies, foreign national oil
companies and independent oil and natural gas production companies
including Chevron Texaco Exploration and Production.

Each of Misr Key Energy Investments, LLC, Key Energy Services,
Inc., Key Energy Services, LLC, and Misr Key Energy Services, LLC,
filed a voluntary petition under Chapter 11 of the Bankruptcy Code
(Bankr. D. Del. Lead Case No. 16-12306) on Oct. 24, 2016.  Key's
other domestic and foreign subsidiaries are not part of the
bankruptcy filing.

As of the second quarter of 2016, the Company had approximately
$1.13 billion in total assets and approximately $1 billion in
aggregate funded debt.  As of the date of the Petition Date, the
Debtors hold approximately $29.8 million in encumbered,
unrestricted cash.  The Debtors have approximately $13.4 million of
trade debt and other debt owed to general unsecured creditors, as
disclosed in court papers.

The Debtors hired Sidley Austin LLP as general bankruptcy counsel;
Young, Conaway, Stargatt & Taylor, LLP, as Delaware counsel; PJT
Partners LP as investment bankers; Alvarez and Marsal North
America, LLC, as financial advisors; and Epiq Bankruptcy Solutions,
LLC, as notice, claims, solicitation and voting agent.

                          *     *     *

Key Energy filed for Chapter 11 pursuant to the terms of a plan
support agreement among Key, Platinum Equity and certain other
holders of its 6.75% Senior Notes due 2021, collectively holding
more than 89% of its outstanding Senior Notes, and certain lenders
holding more than 87% of the principal amount of loans outstanding
under Key's Term Loan Credit Agreement dated June 1, 2015.  The PSA
contemplates the reorganization of the Debtors pursuant to a
prepackaged plan of reorganization.  The Plan contemplates that
funded debt will be reduced from roughly $1 billion to
approximately $250 million.  Under the Joint Plan, Class 6 General
Unsecured Claims are unimpaired and will recover 100%.

The Debtors won confirmation of their bankruptcy-exit plan on Dec.
6, 2016.  They emerged from Chapter 11 on Dec. 15 and began trading
on the New York Stock Exchange under the ticker symbol "KEG".
Platinum Equity became the Company's largest shareholder.


KEY ENERGY: Silver Point Reports 6.7% Stake as of Dec. 15
---------------------------------------------------------
Silver Point Capital, L.P. and its affiliated entities disclosed in
a Schedule 13G filing with the Securities and Exchange Commission
that as of Dec. 15, 2016, they may be deemed to be the beneficial
owner of 1,344,497 shares -- roughly 6.7% -- of Key Energy
Services, Inc., common stock.  

They may be reached at:

          Edward A. Mule
          Robert J. O'Shea
          Silver Point Capital, L.P.   
          Two Greenwich Plaza
          Greenwich, CT 06830

                       About Key Energy

Headquartered in Houston, Texas, Key Energy, Inc., claims to be the
largest domestic onshore, rig-based well servicing contractor based
on the number of rigs owned.  The Company provides a full range of
well services to major oil companies, foreign national oil
companies and independent oil and natural gas production companies
including Chevron Texaco Exploration and Production.

Each of Misr Key Energy Investments, LLC, Key Energy Services,
Inc., Key Energy Services, LLC, and Misr Key Energy Services, LLC,
filed a voluntary petition under Chapter 11 of the Bankruptcy Code
(Bankr. D. Del. Lead Case No. 16-12306) on Oct. 24, 2016.  Key's
other domestic and foreign subsidiaries are not part of the
bankruptcy filing.

As of the second quarter of 2016, the Company had approximately
$1.13 billion in total assets and approximately $1 billion in
aggregate funded debt.  As of the date of the Petition Date, the
Debtors hold approximately $29.8 million in encumbered,
unrestricted cash.  The Debtors have approximately $13.4 million of
trade debt and other debt owed to general unsecured creditors, as
disclosed in court papers.

The Debtors hired Sidley Austin LLP as general bankruptcy counsel;
Young, Conaway, Stargatt & Taylor, LLP, as Delaware counsel; PJT
Partners LP as investment bankers; Alvarez and Marsal North
America, LLC, as financial advisors; and Epiq Bankruptcy Solutions,
LLC, as notice, claims, solicitation and voting agent.

                          *     *     *

Key Energy filed for Chapter 11 pursuant to the terms of a plan
support agreement among Key, Platinum Equity and certain other
holders of its 6.75% Senior Notes due 2021, collectively holding
more than 89% of its outstanding Senior Notes, and certain lenders
holding more than 87% of the principal amount of loans outstanding
under Key's Term Loan Credit Agreement dated June 1, 2015.  The PSA
contemplates the reorganization of the Debtors pursuant to a
prepackaged plan of reorganization.  The Plan contemplates that
funded debt will be reduced from roughly $1 billion to
approximately $250 million.  Under the Joint Plan, Class 6 General
Unsecured Claims are unimpaired and will recover 100%.

The Debtors won confirmation of their bankruptcy-exit plan on Dec.
6, 2016.  They emerged from Chapter 11 on Dec. 15 and began trading
on the New York Stock Exchange under the ticker symbol "KEG".
Platinum Equity became the Company's largest shareholder.


KING & WOOD: Files Notice of Intent to Appoint UK Administrators
----------------------------------------------------------------
Matthew Guarnaccia, writing for Bankruptcy Law360, reported that
King & Wood Mallesons confirmed that it has filed a notice of
intention to appoint administrators in U.K. court, setting the
stage for a possible descent into administration.

According to the report, the notice does not definitively mean KWM
will enter into administration, a process which seeks to "rescue"
companies on the verge of insolvency without requiring a
liquidation of assets.  The recent action is not a required
prerequisite for administration, but instead merely protects KWM
from any legal action seeking to recover funds owed.

The Troubled Company Reporter, citing a report by Max Walters at
Law Gazette, said the firm's European arm is expected to go into
administration in January.  The firm, which is around GBP30 million
in debt, has been courting potential takeover offers but the
Gazette reported on Dec. 14 that some of these had failed.

A spokesperson declined to confirm reports that administrators
will
be called in on Jan. 16, 2017, the Gazette notes.

Major firms including Reed Smith and Mayer Brown are thought to be
in talks with several KWM partners about lateral moves while the
firm is also examining the possibility of transferring training
contracts to other firms, the Gazette discloses.

A KWM spokesperson told the Gazette, "We continue to work with our
financial advisers to explore all available options and, in the
interim, speculation and rumor serve no positive purpose.  As soon
as we are in a position to confirm further details, we will of
course do so."

Earlier this year, the Gazette reported that KWM would be cutting
15% of partners in its Europe and Middle East practice, the
Gazette
recounts.

There were hopes that the Chinese arm of the business might bail
out the European and Middle East arm, the Gazette states.  That
option foundered last month however, leaving a rescue merger as
only viable remaining option, the Gazette relays.

                   About King & Wood Mallesons

King & Wood Mallesons is a multinational law firm headquartered in
Hong Kong.  With more than 2,200 lawyers and $1 billion in revenue,
King & Wood Mallesons is a product of two large scale mergers: in
2012, China's King & Wood PRC Lawyers merged with Mallesons Stephen
Jaques of Australia, and then what became King & Wood Mallesons
merged with SJ Berwin of the United Kingdom in 2013.

KWM is the first and only global law firm based in Asia and is the
largest law firm headquartered outside of the United States or
European Union.  It is the 6th largest firm in the world by number
of lawyers and one of the top thirty by revenue.

The firm's Chinese, Australian and UK divisions each maintain
separate finance units but operate under a single brand name.

                       European Arm's Woes

KWM's European and Middle East (EUME) operation as of November
2016
had 130 partners and more than 500 lawyers altogether.  Its
offices
in Europe and the Middle East are London, Cambridge, Madrid,
Brussels, Luxembourg, Milan, Paris, Frankfurt, Munich, Dubai and
Riyadh.  In 2015, the division accounted for 27 percent of the
firm's global revenue.

The Australian, Chinese, Hong Kong portions of KWM are financially
separate and have different management from the European
operations.

KWM Europe faced cash flow issues because of a slowdown in
business
and partner defections.  In 2016, it was unable to make timely
payments to partners.

The firm subsequently announced a plan to inject $18 million of
capital by raising it from partners.  But the recapitalization
plan
failed due to a number of partner departures.  Among those who
jumped ship are managing partner Rob Day and its head of
investments practices Michael Halford, left.

On Nov. 10, 2016, the firm announced that KWM global managing
partner Stuart Fuller would step down and that a process was
underway to select a new leader.

On Nov. 16, 2016, KWM announced a proposed bail-out, under which
the Chinese division agreed to infuse GBP14 million of additional
capital to KWM Europe, provided that 60% of partners agree to a 12
month "lock-in" and provide some additional capital.  However,
insufficient partners committed to the deal.

By the end of November 2016, KWM announced that it was considering
a range of strategic options, including a merger of the European
division.

In early December 2016, reports say that KWM Europe was in
negotiations to enter pre-packaged administration proceedings in
the UK.

KWM Europe announced on Dec. 9, 2016, that it has received "a
number of indicative purchase offers."


LEGENDS COLLISION: U.S. Trustee Unable to Appoint Committee
-----------------------------------------------------------
An official committee of unsecured creditors has not yet been
appointed in the Chapter 11 case of Legends Collision LLC as of
Dec. 28, according to a court docket.

Legends Collision, LLC sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Ariz. Case No. 16-12658) on November 3,
2016. The petition was signed by Jonathan J. Conner, managing
member.

The case is assigned to Judge Brenda K. Martin.

At the time of the filing, the Debtor disclosed $625,087 in assets
and $1.74 million in liabilities.


LEHMAN BROTHERS: To Get $2-Mil. in SecurityNational Settlement
--------------------------------------------------------------
SecurityNational Mortgage Company, a wholly owned subsidiary of
Security National Financial Corporation, on December 11, 2016,
entered into a Binding Term Sheet with Lehman Brothers Holdings,
Inc. and Aurora Commercial Corporation to settle the litigation
brought by Lehman Holdings against SecurityNational Mortgage in the
United States District Court for the District of Utah, which was
assigned to Judge Stewart.

The settlement will also eliminate any appeal and any related
matters in the case before Judge Nuffer in which SecurityNational
Mortgage obtained a judgment against Aurora Bank, FSB, formerly
known as Lehman Brothers Bank, FSB and Aurora Loan Services, LLC.

The parties agreed to jointly prepare a final Settlement and Mutual
Release Agreement. Final agreements were executed on December 20,
2016, effective as of December 9, 2016.

Under the terms of the settlements involving both of the Utah legal
cases, payments are to be made by Aurora to SecurityNational, and
by SecurityNational Mortgage to Lehman Holdings. The net result is
a payment of $2,125,000 to Lehman Holdings, which includes
agreement to settle and release all claims arising from the sale of
mortgage loans by SecurityNational Mortgage to Aurora or Lehman
Holdings pertinent to the Utah cases.

                     About Lehman Brothers

Lehman Brothers Holdings Inc. -- http://www.lehman.com/-- was the
fourth largest investment bank in the United States.  For more
than 150 years, Lehman Brothers has been a leader in the global
financial markets by serving the financial needs of corporations,
governmental units, institutional clients and  individuals
worldwide.

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

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

The Debtors' bankruptcy cases were assigned to Judge James M.
Peck.
Judge Shelley Chapman took over the case after Judge Peck retired
from the bench to join Morrison & Foerster.

A team of Weil, Gotshal & Manges, LLP, lawyers led by the late
Harvey R. Miller, Esq., serve as counsel to Lehman.  Epiq
Bankruptcy Solutions serves as claims and noticing agent.

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

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

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

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

                          *     *     *

According to a report by Wall Street Journal Pro Bankruptcy, the
team winding down Lehman Brothers Holdings Inc. was slated to pay
out $3.8 billion to creditors in October 2016.  This was the 11th
distribution since Lehman failed in 2008, and brought the total
payout to more than $113.6 billion.  The bulk of the cash -- $83.6
billion -- has gone to pay so-called third-party, or non-Lehman
claims, WSJ related.

Bondholders were projected to receive about 21 cents on the dollar
when Lehman's bankruptcy plan went into effect in early 2012.
According to the WSJ report, Lehman said in a court filing that
the bondholders will have recovered more than 40 cents on the
dollar
after the 11th distribution is completed; while general unsecured
creditors of Lehman's commodities unit will have received nearly
79 cents on the dollar following the latest distribution.


LEO MOTORS: Signs $30 Million Sales Contract With Miho Story
------------------------------------------------------------
Leo Motors Korea Inc., a subsidiary of Leo Motors Inc., signed a
sales contract with Miho Story, Inc. for the manufacture of smart
phone electric vending trucks.  The initial order totals
approximately thirty million dollars for 500 trucks. This will be
followed in two years by the manufacture of 1,000 trucks for an
additional sixty million dollars.  The truck design and operation
solutions were developed by Leo Motors Korea.

The vending trucks will be equipped with Leo Motors Korea's
proprietary high efficient Energy Storage System (ESS) that
interacts with the cloud server and the vehicle diagnosis system
developed by Leo Artificial Intelligence Connected, Inc, another
LEOM subsidiary.  Additionally the ESS power source is "swappable"
using Leo's patented cartridge battery system.

By using ESS, the trucks avoid using Internal Combustion Engines
and their pollution while using electricity to market smart phones
and their accessories on the street.  Being connected to Leo's
patented Multi Drive Recorder (MDR), allows vending truck operators
to move in real time to high sales potential locations.  Leo's
connected car technology also provides anti-theft, on road battery
swap, and real time maintenance services because Leo's MDR is
continually scanning every component of the vending truck.

Dr. Kang, CEO of Leo Motors, Inc. said, "We are excited about this
important contract in that it signals that Leo Motors Korea is
becoming a profit generating company."

                       About Miho Story, Inc.

Miho Story is one of the largest mobile phone marketers in Korea
for the past 10 years.  They have patented the business model of
the smart phone vending truck.  Currently, the Korea government
regulates the Internet and mobile sales of cellular phones to
prevent the phone fraud.  The cellular phone marketer must verify
the purchaser's official Identification Card using an ID scanner.
Miho's vending truck will deliver smart phones on the street as
well as those ordered through the Internet and on mobile devices.

                       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.


LEWIS HEALTH: Has Until Feb. 15 to File Reorganization Plan
-----------------------------------------------------------
Judge Paul G. Hyman, Jr. of the U.S. Bankruptcy Court for the
Southern District of Florida extended Lewis Health Institute,
Inc.'s exclusive periods for filing a plan of reorganization and
soliciting acceptances to the plan through February 15, 2017 and
April 17, 2017, respectively.

The Debtor previously sought to have its exclusive periods for
filing a plan of reorganization and soliciting acceptances to the
plan extended to March 27, 2017 and May 26, 2017, respectively.

Absent the extension, the Debtor's exclusive plan filing period
would have expired on December 26, 2016.

The Debtor related that it had attended a mediation with its
largest creditor in December 2015.  The Debtor further related that
at that time, the Debtor and the creditor entered into a Settlement
Agreement which was approved by the Court on January 20, 2016.  

The Debtor told the Court that it was in the process of finalizing
and determining treatment of its creditor through the Chapter 11
Plan.  The Debtor further told the Court that it was seeking the
extension of its exclusivity periods without the intent to hinder
or delay any payments due HCA Health Services of Florida, Inc.  The
Debtor added that the requested extension would permit the Debtor
to move forward in an orderly, efficient and cost effective manner
to maximize the value of the Debtor's assets.

             About Lewis Health Institute, Inc.

Lewis Health Institute, Inc. filed a chapter 11 petition (Bankr.
S.D. Fla. Case No. 15-25980) on Sept. 3, 2015.  The petition was
signed by Yolanda V. Lewis, president.  The Debtor is represented
by Craig I. Kelley, Esq., at Kelley & Fulton, PL.  The case is
assigned to Judge Paul G. Hyman, Jr.  The Debtor estimated assets
at $0 to $50,000 and liabilities at $100,001 to $500,000 at the
time of the filing.


LIFE CHANGE: SBA To Get $119 Per Month
--------------------------------------
Life Change "N" Ministries filed with the U.S. Bankruptcy Court for
the Western District of Tennessee a disclosure statement in support
of the Debtor's plan of reorganization.

Class 3 Per-Petition Secured Claim of the Small Business
Administration, which holds a perfected secured claim in the amount
of $5,000, will be fully secured at 3.25% interest and a monthly
payment of $119.

Funds needed to make cash payments on the effective date on account
of allowed administrative claims, under the Plan will come from the
gross assets and income of the Debtor.

The Disclosure Statement is available at:

           http://bankrupt.com/misc/tnwb16-28056-29.pdf

As reported by the Troubled Company Reporter on Dec. 29, 2016, the
Debtor filed a plan of reorganization, which proposed that Class 4
unsecured priority claim of The Shelby County Trustee will be paid
in full at 5.25% interest and a monthly payment of $172.34.  The
Shelby County Trustee is owed $10,339.79 in delinquent property
taxes.

The Plan was filed by the Debtor's counsel:

     John E. Dunlap, Esq.
     THE LAW OFFICES OF JOHN E. DUNLAP, P.C.
     3294 Poplar Avenue No. 240
     Memphis, Tennessee 38111
     Tel: (901) 320-1603
          (901) 320-6914
     E-mail: Jdunlap00@gmail.com

                About Life Change "N" Ministries

Life Change "N" Ministries operates as an urban ministry at 2453
Park Avenue, Memphis, Tennessee.  Its business consists of
providing religious, spiritual and counseling services to residents
of the Orange Mound community of Shelby County, Tennessee.

Life Change "N" Ministries sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. W. D. Tenn. Case No. 16-28056) on
Sept.
2, 2016, and is represented by John E. Dunlap, Esq., at The Law
Offices of John E. Dunlap, P.C.

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

The Office of the U.S. Trustee on Oct. 5 disclosed in a court
filing that no official committee of unsecured creditors has been
appointed in the Chapter 11 case of Life Change "N" Ministries.


LINCOLN RESTAURANTS: Seeks 30-Day Plan Filing Period Extension
--------------------------------------------------------------
Lincoln Restaurants Incorporated asks the U.S. Bankruptcy Court for
the District of Puerto Rico to extend its exclusive period to file
a Plan and Disclosure Statement for 30 days, or until January 19,
2017.

Absent an extension, the Debtor's Plan and Disclosure Statement
would have been due on December 20, 2016.

The Debtor tells the Court that despite its efforts to provide a
Plan and Disclosure Statement, the Debtor needs an additional 30
days to provide the same.

            About Lincoln Restaurants Incorporated

Lincoln Restaurants Incorporated, filed a Chapter 11 bankruptcy
petition (Bankr. D.P.R. Case No. 16-05006) on June 23, 2016.  The
petition was signed by Francisco J. Vargas Robledo, president.  The
Debtor is represented by Pedro E. Vazquez Melendez, Esq., at Arvelo
& Vazquez, P.S.C.  The Debtor estimated assets at $0 to $50,000 and
liabilities at $500,001 to $1 million at the time of the filing.



LINN ENERGY: Shareholders Seek Official Committee
-------------------------------------------------
Laurie M. Moga and Douglas J. Moga filed a letter with the U.S.
Bankruptcy Court asking Judge Jones to direct the appointment of an
official committee of shareholders.

The shareholders said there is significant shareholder value that
is not being accurately accounted for by the company, the Debtors,
and its advisers after natural gas and oil prices have rebounded
40% and 50%, respectively, since the time of the company's
bankruptcy filing on May 11, 2016.

"The value of the assets and cash flow of the company are being
substantially understated by the use of non-cash tax write downs,
such as impairment, depreciation, depletion, and amortization.  The
equity holders should be afforded the right by the court for their
own independent representation to determine the true value," the
shareholders said in the letter.

                     About Linn Energy

Headquartered in Houston, Texas, Linn Energy, LLC, and its
affiliates are independent oil and natural gas companies. Each of
Linn Energy, LLC, and 14 of its subsidiaries filed a voluntary
petition under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex.
Lead Case No. 16-60040) on May 11, 2016. The petitions were signed
by Arden L. Walker, Jr., chief operating officer of LINN Energy.

The Debtors have hired Paul M. Basta, Esq., Stephen E. Hessler,
Esq., Brian S. Lennon, Esq., James H.M. Sprayregen, Esq., and
Joseph M. Graham, Esq., at Kirkland & Ellis LLP and Kirkland &
Ellis International LLP as general bankruptcy counsel, Jackson
Walker L.L.P. as co-counsel, Lazard Freres & Co. LLC as financial
advisor, AlixPartners as restructuring advisor and Prime Clerk LLC
as claims, notice and balloting agent.

Judge David R. Jones presides over the cases.

The Office of the U.S. Trustee has appointed five creditors of
Linn
Energy LLC to serve on the official committee of unsecured
creditors.  The Committee tapped Mark I. Bane, Esq., and Keith H.
Wofford, Esq., at Ropes & Gray LLP; and Moelis & Company LLC as
investment banker.  It also retained as Texas Oil & Gas Counsel,
John P. Melko, Esq., David S. Elder, Esq., and Michael K. Riordan,
Esq., at Gardere Wynne Sewell LLP.


LOPEK COMPANIES: Court Allows Cash Collateral Use on Interim Basis
------------------------------------------------------------------
Judge Barbara J. Houser of the U.S. Bankruptcy Court for the
Northern District of Texas authorized Debtor Lopek Companies, LLC,
to use BB&T and Comerica Bank's cash collateral on an interim
basis.

The approved Budget provides for total expenses in the amount of
$62,435 for the period Dec. 19, 2016 through Dec. 30, 2016.

The Debtor's right to use cash collateral will expire on the
earlier of:

     (a) the entry of a subsequent Interim Cash Collateral Order;
or

     (b) the entry of a Final Order.

The Secured Lenders are granted replacement liens on all of the
Debtor's personal property, exclusive of any avoidance actions
available to the Debtor's bankruptcy estate.

The replacement liens will be subordinate to:

     (a) professional fees and expenses of the attorneys, financial
advisors and other professionals retained by the Debtor; and

     (b) any and all fees payable to the United States Trustee
pursuant to 28 U.S.C. Section 1930(a)(6) and the Clerk of the
Bankruptcy Court.

The final hearing on the Debtor's use of cash collateral is
scheduled on Jan. 6, 2017 at 1:15 p.m.

A full-text copy of the Order, dated Dec. 23, 2016, is available at

http://bankrupt.com/misc/LopekCompanies2016_1634817bjh11_27.pdf

                  About Lopek Companies, LLC

Lopek Companies, LLC, and HD Retail Repair LLC are in the business
of facilities maintenance for retail outlets.  HDRR provides
facilities maintenance services to all Home Depot stores
nationwide.  Lopek provides facilities maintenance services to
several local dealerships.

HD Retail and Lopek Companies filed Chapter 11 petitions (Bankr.
N.D. Tex. Case No. 16-34817 and 16-34818) on Dec. 16, 2016.  The
petitions were signed by Kevin Loper, president.  The cases are
assigned to Judge Stacey G. Jernigan.  The Debtors have requested
joint administration of their Chapter 11 cases.

The Debtors are represented by Roberth Thomas DeMarco, Esq., at
DeMarco Mitchell, PLLC.  

Lopek Companies estimated assets at $0 to $50,000 and liabilities
at $1 million to $10 million at the time of the filing.


MADDD WEST: Case Summary & 7 Unsecured Creditors
------------------------------------------------
Debtor: MADDD West 38 LLC
        14605 Union Turnpike
        Flushing, NY 11367-3716

Case No.: 16-45836

Chapter 11 Petition Date: December 28, 2016

Court: United States Bankruptcy Court
       Eastern District of New York (Brooklyn)

Judge: Hon. Carla E. Craig

Debtor's Counsel: Ted J. Donovan, Esq.
                  GOLDBERG WEPRIN FINKEL GOLDSTEIN LLP
                  1501 Broadway, 22nd Floor
                  New York, NY 10036
                  Tel: (212)-301-6943
                  Fax: (212)-422-6836
                  E-mail: Tdonovan@gwfglaw.com

Total Assets: $42.95 million

Total Debt: $27.57 million

The petition was signed by Joseph Noormand, manager.

Debtor's List of Seven Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
325 Third Avenue LLC                     Loan         $1,000,000  
PO Box 1036
Great Neck, NY
11023-0036

402 West 38th Street Corp.            Balance of     $23,950,000
c/o Equity Residential               contract price
2 N Riverside Plz
Ste 400
Chicago, IL
60606-2624

Bapaz Capital 5 LLC                        Loan          $800,000
14605 Union Tpke
Flushing, NY
11367-3716

Gary Rosen, Esq.                          Fees            $11,360

Jigoodi Jigoodi LLC                       Loan         $1,300,000
309 N Elm Dr
Beverly Hills, CA
90210-4915

Karl Fischer                              Fees            $16,000  
                    
Architect PLLC

Prime Equities 91 LLC                     Loan           $500,000
260 Gristmill Ln
Great Neck, NY
11023-1838


MAGNUM MOVERS: Names Dean Greer as Legal Counsel
------------------------------------------------
Magnum Movers, LLC seeks authorization from the U.S. Bankruptcy
Court for the Western District of Texas to employ Dean W. Greer as
legal counsel.

The Debtor requires Mr. Greer to:

   (a) advise and consult with the Debtor as to its powers and
       duties in the continued operation of its business and
       management of its properties during bankruptcy;

   (b) take actions as may be necessary to preserve and protect
       the Debtor's assets, including, if required by the facts
       and circumstances, the prosecution of adversary proceedings

       and other actions on the Debtor's estate and estimation of
       claims against the estates where appropriate;

   (c) prepare, on behalf of the Debtor, necessary applications,
       motions, complaints, adversary proceedings, answers,
       orders, reports, and other pleadings and legal documents,
       in connection with matters affecting the Debtor and its
       estate;

   (d) assist the Debtor in the development, negotiation and
       confirmation of a plan of reorganization and the
       preparation of a disclosure statement or statements in
       respect thereof; and

   (e) perform other legal services that the Debtor may reques in
       connection with the Chapter 11 case and pursuant to the
       Bankruptcy Code.

The firm will be paid at these hourly rates:

       Dean W. Greer         $300
       Legal Assistant       $75

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

Mr. Greer will be paid $6,467 in retainer. The sum of $1,717 was
used to pay for the Chapter 11 Bankruptcy filing fee, and the
balance has been retained in the Applicant's Trust Account.

Mr. Greer 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 firm can be reached at:

       Dean W. Greer, Esq.
       LAW OFFICES OF DEAN W. GREER
       2929 Mossrock, Suite 117
       San Antonio, TX 78230
       Tel: (210) 342-7100
       Fax: (210) 342-3633
       E-mail: dwgreer@sbcglobal.net

Magnum Movers, LLC, filed a Chapter 11 bankruptcy petition (Bankr.
W.D. Tex. Case No. 16-52753) on December 2, 2016, disclosing under
$1 million in both assets and liabilities.  The Debtor is
represented by the Law Offices of Dean William Greer, Esq.


MALIBU LIGHTING: Wants May 4 Plan Filing Period Extension
---------------------------------------------------------
Malibu Lighting Corporation and its affiliated Debtors ask the U.S.
Bankruptcy Court for the District of Delaware to extend their
exclusive periods for filing a chapter 11 plan and soliciting
acceptances to the plan through May 4, 2017 and July 3, 2017,
respectively.

The Debtors's current deadline for filing a plan is January 4,
2017.  Their current deadline for soliciting acceptances of a plan
is March 5.

The Debtors relate that during the pendency of their chapter 11
cases, they completed and closed multiple sales concerning their
respective assets, resulting in the sale of substantially all of
the Debtors' assets.

The Debtors contend that to date, they have filed multiple omnibus
objections to over 75 proofs of claim totaling approximately $4.5
million.  They further contend that as a result of these
objections, more than 400 scheduled and filed claims totaling over
$15 million have been expunged from the official claims register
pursuant to Orders entered by the Court.  The Debtors add that they
have filed individual objections to several priority tax claims by
the State taxing authorities that have been sustained by orders
entered by the Court.

The Debtors tell the Court that their cases are complex with three
separate businesses, the assets of which had to be sold and/or
liquidated during the pendency of the chapter 11 cases.  The
Debtors further tell the Court that they have diligently
administered the cases by, among other things, expeditiously
concluding and closing the asset sales and reconciling and
successfully prosecuting multiple objections to claims.  The
Debtors add that they are preparing a draft disclosure statement
and related plan and are in discussions with the Official Committee
of Unsecured Creditors and other non-debtor parties over the
structure of a potential chapter 11 plan that would conclude the
chapter 11 cases.

The Debtors assert that they require additional time to advance and
conclude the discussions, and then propose a consensual chapter 11
plan that would have the support of the major economic
constituencies.

The Debtors' Motion is scheduled for hearing on January 17, 2017 at
2:00 p.m.  The deadline for the filing of objections to the
Debtors' Motion is January 10.

           About Malibu Lighting Corporation

Malibu Lighting Corporation, Outdoor Direct Corporation, National
Consumer Outdoors Corporation, Beam Corporation, Smoke 'N Pit
Corporation, Treasure Sensor Corporation and Stubbs Collections
Inc. filed Chapter 11 bankruptcy petitions (Bankr. D. Del. Lead
Case No. 15-12080) on Oct. 8, 2015.  The petition was signed by
David M. Baker as chief restructuring officer.  Judge Kevin Gross
is assigned to the case.

MLC was a manufacturer and supplier of outdoor and landscape
lighting products, such as solar and low voltage lights and home
security lights, including the parts and accessories associated
with these products.

ODC was a manufacturer and supplier of a variety of consumer goods,
including (a) outdoor cooking products, such as outdoor gas grills,
charcoal grills, smokers and fryers, (b) hand held lighting
products, like flashlights and spotlights, (c) landscape lighting
products, and (d) parts and accessories associated with the
foregoing products.

MLC and ODC are  winding down operations as a result of the
termination of a business relationship with principal customer,
Home Depot.

NCOC is a manufacturer and supplier of both branded and private
label pet bedding and pet accessory products.  NCOC manufactures
beds, accessories, and deodorizers for dogs as well as beds,
scratching posts, and toys for cats.  In addition, NCOC markets and
sells boat covers manufactured primarily from Chinese suppliers.
Malibu estimated assets and liabilities of $10 million to $50
million in its bankruptcy petition.

The Debtors have engaged Michael Seidl, Esq., Jeffrey N. Pomerantz,
Esq., and Maxim B. Litvak, Esq., at Pachulski Stang Ziehl & Jones
LLP as counsel, Piper Jaffray Co. as investment banker, and
Kurtzman Carson Consultants as claims and noticing agent.

On Oct. 20, 2015, an official committee of unsecured creditors was
appointed by the Office of the United States Trustee.  The
Committee has retained Lowenstein Sandler LLP as its counsel, Blank
Rome LLP as its Delaware co-counsel and BDO USA, LLP, as its
financial advisors.

No request has been made for the appointment of a trustee or an
examiner in these cases.


MARINERS PORTFOLIO: Hires LaMonica Herbst as Counsel
----------------------------------------------------
Mariners Portfolio LLC, seeks authority from the U.S. Bankruptcy
Court for the Eastern District of New York to employ LaMonica
Herbst & Maniscalco, LLP as counsel to the Debtor.

Mariners Portfolio requires LaMonica Herbst to:

   (a) provide legal advice with respect to the Debtor's powers
       and duties as a debtor-in-possession in accordance with
       the provisions of the Bankruptcy Code in the continued
       operation of its business and the management of its
       property;

   (b) prepare, on behalf of the Debtor, all necessary schedules,
       applications, monthly operating reports, if necessary,
       motions, answers, orders, reports, adversary proceedings
       and other legal documents required by the Bankruptcy Code
       and Federal Rules of Bankruptcy Procedure;

   (c) perform all other legal services for the Debtor that may
       be necessary in connection with the Debtor's attempt to
       reorganize its affairs under the Bankruptcy Code; and

   (d) assist the Debtor in the development and implementation of
       a plan of reorganization.

LaMonica Herbst will be paid at these hourly rates:

     Partners                   $595
     Associates                 $415
     Paraprofessionals          $175

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

Jordan Pilevsky, member of LaMonica Herbst & Maniscalco, LLP,
assured the Court that the firm is a "disinterested person" as the
term is defined in Section 101(14) of the Bankruptcy Code and does
not represent any interest adverse to the Debtor and its estates.

LaMonica Herbst can be reached at:

     Jordan Pilevsky, Esq.
     LAMONICA HERBST & MANISCALCO, LLP
     3305 Jerusalem Avenue
     Wantagh, NY 11793
     Tel: (516) 826-6500

Olympia Office LLC, based in Cedarhurst, NY, filed a Chapter 11
petition (Bankr. E.D.N.Y. Case No. 16-74892) on October 20, 2016.
The petition was signed by Sung II Han, vice president.  Judge
Alan
S. Trust presides over the case.

In its petition, Olympia Office estimated $10 million to $50
million in both assets and liabilities.

Olympia Office's affiliates WA Portfolio LLC, Mariners Portfolio
LLC and Seahawk Portfolio LLC sought Chapter 11 protection (Bankr.
E.D.N.Y. Case Nos. 16-75515 to 16-75517) on November 28, 2016.
The
petitions were signed by Scott G. Switzer, chief operating
officer.
Judge Robert E. Grossman presides over the case of WA Portfolio.
The two other cases are assigned to Judge Trust.

At the time of the filing, the three Olympia affiliates estimated
their assets at $10 million to $50 million and debts at $50
million
to $100 million.

Jordan Pilevsky, Esq., at Lamonica Herbst & Maniscalco LLP, serves
as bankruptcy counsel.


MCCLATCHY CO: Committee to Purchase Annuity Contract from AUL
-------------------------------------------------------------
The retirement committee of The McClatchy Company entered into an
agreement to purchase an irrevocable, single-premium group annuity
contract from American United Life Insurance Company to transfer
certain of its outstanding pension benefit obligations under The
McClatchy Company Retirement Plan.  Under the Agreement, the Plan
purchased annuities and settled obligations for a group of
annuitants including retirees and surviving beneficiaries who
currently receive a benefit of $180 per month or less from the
Plan, commencing with the monthly payment to be made in January
2017.  The estimated projected benefit obligation related to these
annuitants was $46 million and the Plan paid $49.5 million in cash,
including the related insurance premium.

The Company, who is the Plan administrator, does not expect a
material impact on the Company's pension expense as a result of
this transaction.

                  About The McClatchy Company

Sacramento, Cal.-based The McClatchy Company (NYSE: MNI)
-- http://www.mcclatchy.com/-- is a media company that provides
both print and digital news and advertising services.  Its
operations include 30 daily newspapers, community newspapers,
websites, mobile news and advertising, niche publications, direct
marketing and direct mail services.  Its owned newspapers include,
among others, the (Fort Worth) Star-Telegram, The Sacramento Bee,
The Kansas City Star, the Miami Herald, The Charlotte Observer,
and The (Raleigh) News & Observer.  The Company holds interest in
digital assets which include CareerBuilder, LLC, Classified
Ventures, LLC, HomeFinder, LLC, and Wanderful Media.

McClatchy reported a net loss of $300 million on $1.05 billion of
net revenues for the year ended Dec. 27, 2015, compared to net
income of $374 million on $1.14 billion of net revenues for the
year ended Dec. 28, 2014.

As of Sept. 25, 2016, McClathcy Co had $1.83 billion in total
assets, $1.68 billion in total liabilities and $155.5 million in
stockholders' equity.

                           *     *     *

McClatchy carries a 'Caa1' corporate family rating from Moody's
Investors Service.  In May 2011, Moody's changed the rating
outlook from stable to positive following the company's
announcement that it closed on the sale of land in Miami for
$236 million.  The outlook change reflects Moody's expectation
that McClatchy will utilize the net proceeds to reduce debt,
including its underfunded pension position, which will reduce
leverage by approximately half a turn and lower required
contributions to the pension plan over the next few years.

As reported by the TCR on April 2, 2014, Standard & Poor's Ratings
Services affirmed all ratings on U.S. newspaper company The
McClatchy Co., including the 'B-' corporate credit rating, and
revised the rating outlook to stable from positive.  The outlook
revision to stable reflects S&P's expectation that the
timeframe for a potential upgrade lies beyond the next 12 months,
and could also depend on the company realizing value from its
digital minority interests.


MID CITY TOWER: On Final Stage to Close on Short-Term Bridge Loan
-----------------------------------------------------------------
Mid City Tower, LLC, is on the final stage to close on a short-term
bridge loan approved by a bankruptcy court to pay creditors and
refinance its secured debt to MidSouth Bank, according to the
company's latest disclosure statement.

The loan will be combined with funds from two new investors for
additional financing for Mid City Tower, including the buy-out of
the dissenting minority equity interests.  

Mid City Tower had other prospects for loans in progress that would
be less expensive than the Riverdale loan that was initially
selected because it was the closest to a closing date in connection
with the confirmation of its Chapter 11 plan of reorganization,
according to the court filing.

Despite the company having provided all information required by
Riverdale in advance, the process with Riverdale is not proceeding.
However, Mid City Tower has received a conditional commitment for
a loan at 8.75% fixed rate interest only payments for three years
with only two points required at closing.  

Mid City Tower has provided all required information to this new
lender, will continue with the same title closing firm to avoid
delay, and is anticipating a favorable result but the closing date
is expected to be later than was planned with the prior lender,
according to the latest disclosure statement filed on Dec. 15 with
the U.S. Bankruptcy Court for the Middle District of Louisiana.

A copy of the disclosure statement is available for free at
http://bankrupt.com/misc/MidCityTower_1DS12152016.pdf

                       About Mid City Tower

Mid City Tower, LLC, based in Baton Rouge, Louisiana, is an entity
formed in 2013 by Mathew S. Thomas with the assistance of his
family.  The entity has always been operated from its business
location at 5700 Florida Boulevard, Rouge Rouge, Louisiana.

The Debtor filed a Chapter 11 petition (Bankr. M.D. La. Case No.
16-10877) on July 26, 2016.  The Hon. Douglas D. Dodd presides over
the case.  The petition was signed by Mr. Thomas, manager.

In its petition, the Debtor estimated $1 million to $10 million in
assets and $1 million to $10 million in liabilities.

Brandon A. Brown, Esq., and Ryan James Richmond, Esq., at Stewart
Robbins & Brown, LLC, serve as bankruptcy counsel.


MODULAR SPACE: Files Modified Plan of Reorganization
----------------------------------------------------
BankruptcyData.com reported that Modular Space Holdings filed with
the U.S. Bankruptcy Court a notice of filing of technical
modifications to the Debtors' Joint Prepackaged Plan of
Reorganization. The filing notes, "Article IV.G. of the Plan is
amended and revised by deleting the fourth, fifth and sixth
paragraphs (referencing DTC or its nominee as the holder of record
of New Common Equity Interests and New Warrants) and replacing them
with the following: 'The New Common Equity Interests and the New
Warrants will be issued in either book-entry form or physical
certificate and will be transferable through a transfer agent. The
New Common Equity Interests and the New Warrants are not expected
to be deposited with or traded through DTC or its nominee. Holders
of the New Common Equity Interests, including shares of New Common
Equity Interests issuable upon exercise of the Warrants, will have
to become parties to the New Shareholder Agreement which will have
to become parties to the New Shareholder Agreement which will
contain certain restrictions on transfer, including transfers to
competitors of the Reorganized Entity. The form of New Shareholder
Agreement will be filed together with the Plan Supplement. In order
to receive the New Common Equity Interests, Noteholders will have
to execute the New Shareholder Agreement." The Court scheduled a
February 7, 2017 hearing to consider both the Disclosure Statement
and Plan, with objections due by January 25, 2017.

                          About ModSpace

Modular Space Corporation (ModSpace), based in Berwyn, Pa. --
http://Blog.ModSpace.com/-- is the largest U.S.-owned provider of
office trailers, portable storage units and modular buildings for
temporary or permanent space needs. Building on nearly 50 years of
experience, ModSpace serves a diverse set of customers and
markets—including commercial, construction, education,
government, healthcare, industrial, energy, disaster relief,
franchise and special events—through an extensive branch network
across the United States and Canada.

On Dec. 21 2016, Modular Space Holdings, Inc., and six affiliates
filed voluntary petitions for relief under Chapter 11 of the United
States Bankruptcy Code (Bankr. D. Del. Case No. 16-12825 to
16-12831) to pursue a prepackaged plan of reorganization.   The
cases are pending joint administration under Case No. 16-12825
before the Honorable Kevin J. Carey in the United States Bankruptcy
Court for the District of Delaware.

ModSpace estimated $1 billion to $10 billion in assets and
liabilities.

Cleary Gottlieb Steen & Hamilton LLP is acting as legal counsel for
the Company; Lazard Middle Market LLC and Lazard Freres & Co. LLC
are acting as the Company's investment bankers and Zolfo Cooper is
the Company's financial advisor.  Kurtzman Carson Consultants is
the claims and noticing agent and maintains a case Web site at
http://www.kccllc.net/modspace

Dechert LLP is acting as legal counsel and Moelis & Company LLC is
acting as financial advisor to the ad hoc group of noteholders.


MODULAR SPACE: First Day Hearing Held
-------------------------------------
Jeff Montgomery, writing for Bankruptcy Law360, reported that
Modular Space Holdings Inc.'s attorney James L. Bromley of Cleary
Gottlieb Steen & Hamilton LLP told the Delaware Bankruptcy Court at
last week's so-called First Day hearing that the company's
prepackaged plan will rework his client's overall $1 billion in
liabilities while also bringing in $90 million in new cash.  The
report says Modular Space spent much of its first Chapter 11
hearing aiming for the exit door, telling the Delaware bankruptcy
court that the company already has strong support for a $410
million debt-to-equity swap and plans on an early February
confirmation.

As reported by the Troubled Company Reporter, Modular Space filed a
Prepackaged Plan of Reorganization that will eliminate
approximately $400 million of debt from the Company's balance
sheet, provide $90 million of new equity capital from the
bondholders via a rights offering and include a new $719 million
credit facility to be provided by the existing asset based
lenders.

General unsecured claims, to the extent not paid earlier by order
of the Court, would either be paid in full in cash or reinstated
on
the Effective Date.  However, under certain conditions, the Plan
affords the noteholders the right to direct the Debtors (subject
to
certain consent rights) to pursue an "alternative transaction."

The Debtors propose to seek confirmation of the Prepack Plan based
on this timeline:

   * Dec. 13, 2016: Voting record date
   * Dec. 20, 2016: Commencement of Solicitation
   * Dec. 21, 2016: Petition Date
   * Dec. 27, 2016: Mail Combined Hearing Notice
   * Dec. 28, 2016: Publish Publication Notice
   * Jan. 25, 2017: Voting Deadline
   * Jan. 25, 2017: Deadline to object to Disclosure Statement and
confirmation of Plan
   * Jan. 27, 2017: Deadline to File Voting Report
   * Jan. 30, 2017 Deadline to File Memorandum and Declarations in
Support of Confirmation
   * Feb. 1, 2017: Confirmation Hearing
   * Feb. 22, 2017: Effective Date

              About Modular Space Holdings

Modular Space Holdings, Inc., et al., filed chapter 11 petitions
(Bankr. D. Del. Lead Case No. 16-12825) on December 21, 2016.  The

Debtors are represented by James L. Bromley, Esq., Jane VanLare,
Esq., and Kara A. Hailey, Esq., at Cleary Gottlieb Steen & Hamilton

LLP, and Ian J. Bambrick, Esq. at Young Conaway Stargatt & Taylor,

LLP.

The Debtors have requested that the Chapter 11 Cases be jointly
administered for procedural purposes only.  The Debtors continue to

operate their businesses and manage their properties as debtors and

debtors in possession pursuant to Sections 1107(a) and 1108 of the

Bankruptcy Code.  To date, no creditors' committee has been
appointed in these Chapter 11 Cases by the Office of the United
States Trustee for Region 3. No trustee or examiner has been
appointed in the Debtors' Chapter 11 Cases.

The Debtors are the largest U.S.-owned provider of temporary and
permanent modular buildings, and are among the largest suppliers in

the U.S. and Canada of temporary modular space and permanent
modular construction.  The Debtors provide a full range of building

products, including office trailers, classrooms, portable storage
units, and other modular units and construction projects, and work

with clients across many industries, including commercial,
construction, education, government, healthcare, industrial,
energy, franchise and retail, and sports and entertainment.

Modular Space Corporation, or MSC, is the main operating company
within the Debtors' corporate structure.  Debtor ModSpace Financial

Services Canada, Ltd., or MFSC, is the operating entity for the
Debtors' business in Canada.  MFSC is a wholly-owned subsidiary of

MSC and all material decisions regarding MFSC and its operations
are made by MSC personnel in the United States.  As a result, the
center of main interests for MFSC is located in the United States.

The Debtors anticipate commencing an ancillary proceeding under
Part IV of the Companies' Creditor Arrangement Act (Canada) in
Toronto, Ontario, Canada before the Ontario Supreme Court of
Justice (Commercial List).


NEW YORK CRANE: Needs Until March 13 to Solicit Plan Acceptances
----------------------------------------------------------------
New York Crane & Equipment Corp. and its affiliated Debtors ask the
U.S. Bankruptcy Court for the Eastern District of New York to
extend their time to solicit acceptances to their Joint Amended
Plan of Reorganization for an additional 60 days or until March 13,
2017.

The Debtors relate that one of the reason for its Chapter 11
filings has been the two wrongful death judgments totaling
approximately $96 million, which are subject to pending appeals.
The Debtors further relate that the Court has entered an Order
vacating the automatic stay to allow the appeals to go forward.

The Debtors contend that, at the urging of the Court, they have
formulated a plan, around a worse-case scenario -- hopeful that the
Appellate Division will either vacate the judgments in whole or
part, or substantially reduce the damages awarded -- and
eventually, the Debtors have filed a Plan and accompanying Amended
Disclosure Statement which provide distributions under five likely
scenarios to emerge under the appeals.

Accordingly, even though the Creditors' Committee wants to
eliminate exclusivity, the Debtors intend to move the Plan
confirmation process forward to preserve the status quo as they
believe that the Plan documents will provide the mechanism to
satisfy creditors' claims once the appeals are decided.

The Debtors tell the Court that the Plan documents are complex
submission which not only encompass five distinct Plan scenarios,
but also implicate the assets of the Debtors, multiple non-Debtor
"affiliates" and non-Debtor real estate companies.  The Debtors
further tell the Court that they remain receptive to amending their
Plan documents as it is very likely that the Plan documents will be
supplemented to incorporate anticipated changes sought by, among
others, the Creditors' Committee, the insurance companies, plus
modifications to the Confirmation Account Stipulation based upon
the Court's determination at the December 15, 2016 hearing.

Based upon the deadline to file the Plan documents, the 60-day
solicitation period would expire on January 2, 2017.

A hearing will be held on January 9, 2017 at 2:00 p.m. for the
Court to consider the Debtors' extension request.  Objections are
due three days prior to the hearing date.

                             About New York Crane

New York Crane & Equipment Corp., J.F. Lomma, Inc. (De.), J.F.
Lomma, Inc. (N.J.), and James F. Lomma filed Chapter 11 bankruptcy
petitions (Bankr. E.D.N.Y. Case Nos. 16-40043, 16-40044, 16-40045
and 16-40048, respectively) on Jan. 6, 2016.  The petitions were
signed by James F. Lomma as president. New York Crane & Equipment
disclosed total assets of $9.8 million and total debts of $22.05
million.  Judge Carla E. Craig presides over the cases.

The Debtors hire Goldberg Weprin Finkel Goldstein LLP as their
counsel; LaMonica Herbst & Maniscalco, LLP as special counsel;
Robert L. Friedbauer CPA PC as accountant; Marcum LLP as financial
advisor; and Pro Star Pilatus Center LLC as Broker in relation to
an Aircraft Remarketing Agreement.

James Lomma is the president and sole shareholder of the corporate
Debtors.  The Debtors employ LaMonica Herbst & Maniscalco, LLP as
special litigation and conflicts counsel to James F. Lomma.

The corporate Debtors operate crane, trucking and rigging companies
doing business in New York City and other parts of the country.

On January 8, 2016, an order was entered providing for the joint
administration of these related Chapter 11 cases.

An official committee of unsecured creditors has been appointed.
The Committee has tapped Togut, Segal & Segal LLP as its counsel.


NEWBURY COMMON: Court Extends Plan Filing Period to Feb. 6
----------------------------------------------------------
Judge Laurie Selber Silverstein of the U.S. Bankruptcy Court for
the District of Delaware extended Newbury Common Associates, LLC,
et al.'s exclusive periods for filing a chapter 11 plan and
soliciting acceptances to the plan through February 6, 2017 and
April 7, 2017, respectively.

The Debtors previously sought the extension of the exclusive
periods, relating that their management and professional advisors
continue to devote a significant amount of time and effort towards
a number of critical matters in the chapter 11 cases.  The Debtors
further related that among other things, (a) they had successfully
closed the sales of all of the Properties, excluding the still
uncompleted Residence Inn Property, and (b) the Debtor Seaboard
Hotel LTS Associates, LLC entered into the Letter Agreement with
Israel Discount Bank of New York regarding the disposition of the
Residence Inn Property.

The Debtors added that following the completion of the sale
process, they began implementing a Work Plan, including by holding
a constructive plan settlement conference with significant parties
in interest that the Debtors believed would result in a consensual
chapter 11 plan.

The Debtors told the Court that they had developed the Work Plan
with the understanding that the litigation required to fully unwind
the prepetition fraudulent conduct orchestrated while Mr. John J.
DiMenna, Jr. was involved with the Debtors, as well as the claims
asserted against the various Debtors, intercompany claims, and
potential clawback litigation would be extremely complex,
protracted, and costly, and that it would be in the best interests
of all parties to reach a consensual chapter 11 plan.

The Debtors further told the Court that in furtherance of their
goal of developing a consensual chapter 11 plan, the Debtors and
their professionals expedited an extensive review of potential
intercompany claims and developed and prepared other critical
information necessary for parties in interest to evaluate potential
plan structures.  The Debtors added that they had convened a
settlement conference on November 17, 2016 which included
participants from UCF I Trust 1, CPR Money, LLC, Cedar Hill
Capital, LLC, and many investors. The Debtors say that another
settlement conference had been scheduled for December 9, 2016 and
the Debtors remained cautiously optimistic that they would reach
sufficient consensus to file a proposed plan by the end of the
year.

The Debtors related that despite the extensive efforts, there was
still much more to do, as outlined in the Work Plan.  The Debtors
also said Anchin Block & Anchin LLP had been examining the bank
records for non-Debtor Seaboard Consolidated, LLC and various
Debtors and related non-Debtor entities managed by John DiMenna
going back at least to Consolidated's inception to analyze what
transfers occurred into and out of Consolidated.  The Debtors
contend that Anchin's examination to date had yielded a preliminary
analysis into the movement of cash into and out of Consolidated,
which provided some sense as to the likely existence and amount of
claims between Debtors.

          About Newbury Common Associates, LLC.

Newbury Common Associates, LLC, et al., comprise a corporate
enterprise that owns a diverse portfolio of high quality,
distinctive commercial, hospitality and residential properties with
an aggregate of approximately 800,000 square feet located primarily
in Stamford, Connecticut.

On Dec. 13, 2015, Newbury Common Associates, LLC, and 13 affiliates
each commenced a voluntary case (Bankr. D. Del. Lead Case No.
15-12507) under chapter 11 of the Bankruptcy Code, and on Dec. 14,
Tag Forest LLC commenced a Chapter 11 case (collectively, "Original
Debtors").  On Feb. 3, 2016, Newbury Common Member Associates, LLC
and 8 affiliates commenced a voluntary case under chapter 11 of the
Bankruptcy Code; and then on Feb. 4, 88 Hamilton Avenue Associates,
LLC filed a Chapter 11 petition (collectively "Additional
Debtors").  The petitions were signed by Marc Beilinson, chief
restructuring officer.  At the time of the filing, the Debtors
estimated assets and liabilities at $100 million to $500 million.

Seaboard Realty, LLC, its principals or entities it manages serve
as the manager under the operating agreements for each of the
Debtors and is owned 50% by John J. DiMenna, Jr., 25% by Thomas L.
Kelly, Jr. and 25% by William A. Merritt, Jr.  The Original Debtors
other than Seaboard Residential, LLC, Tag, and Newbury Common
Associates, LLC, are holding companies whose assets are
substantially comprised of the equity of the Property Owner
Debtors.  The Debtors' eight operating property are owned by the
"Property Owner Debtors", namely Century Plaza Investor Associates,
LLC; Seaboard Hotel Associates, LLC; Seaboard Hotel LTS Associates,
LLC; Park Square West Associates, LLC; Clocktower Close Associates,
LLC; One Atlantic Investor Associates, LLC; 88 Hamilton Avenue
Associates, LLC; 220 Elm Street I, LLC; 300 Main Street Associates,
LLC; and Seaboard Residential, LLC.

The Original Debtors' chapter 11 cases are being jointly
administered pursuant to an order entered Dec. 18, 2015.  The
Debtors later won approval of a supplemental motion seeking joint
administration of the Additional Debtors' Chapter 11 cases with the
cases of the Original Debtors for procedural purposes only.

As of Jan. 7, 2016, the Debtors had incurred purported aggregate
funded secured indebtedness of approximately $177.2 million in
principal, including approximately $150.4 million of property-level
secured debt and approximately $26.8 million of purported and
allegedly unauthorized mezzanine debt.

The Debtors are represented by Robert S. Brady, Esq., at Young
Conaway Stargatt & Taylor, LLP, and Dechert LLP.  They retained
Donlin Recano as claims and noticing agent, and Anchin, Block &
Anchin as their Forensic Accounting Services Provider.

The Office of the U.S. Trustee disclosed in a court filing that no
official committee of unsecured creditors has been appointed in the
Debtors' cases.



NEXTSTEP DEVELOPMENT: Wants Plan Exclusivity Extended to Feb. 28
----------------------------------------------------------------
Nextstep Development, Inc. and Bandera Pointe Hospitality, LP. ask
the U.S. Bankruptcy Court for the Western District of Texas to
extend their exclusive periods to file a Chapter 11 plan and to
obtain acceptances of such plan to February 28, 2017 and April 29,
2017, respectively.

The Debtors relate that prior to the Petition Date and throughout
their cases, they have diligently evaluated, in consultation with
their professionals, a number of options to address their financial
issues, which included discussions regarding restructuring the
Debtors' businesses and the sale of their respective assets -- for
which the Court has approved the sale of the Debtors' property.

The Debtors believe that they will be able to satisfy all of their
creditors' claims from the sales proceeds.  Therefore, the Debtors
will likely request the Court to authorize payment of all claims
and simultaneously dismiss the bankruptcy proceedings rather than
filing a plan of reorganization.  However, the Debtors tell the
Court that the closing of the sales of their assets will not occur
until after the end of the "exclusivity" period provided for under
Section 1121 of the Bankruptcy Code -- which would expire on
January 4, 2017 and March 5, 2017, respectively.

The Debtors relate that Weinritter Realty, LP, the Debtors' largest
secured creditor, and the U.S. Trustee do not oppose to the
Debtors' requested extension.

                             About Nextstep Development

Nextstep Development, Inc., owns the Econolodge Downtown South,
located in San Antonio, Bexar County, Texas.  Formerly known as
Quality Inn Downtown South, Econolodge is a pet-friendly discount
hotel located near the Alamo and Interstate 35.

Nextstep Development filed a chapter 11 petition (Bankr. W.D. Tex.
Case No. 16-52019) on Sept. 6, 2016.  The petition was signed by
Niraj Patel, director.  Judge Craig A. Gargotta is the case judge.
Nextstep estimated assets and liabilities at $1 million to $10
million at the time of the filing.

On Sept. 13, 2016, the Court entered an order authorizing joint
administration  of Nextstep proceeding and the case styled, In re:
Bandera Pointe Hospitality, LP.  Nextstep and Bandera are each
operating their respective businesses as a Debtor-in-possession
pursuant  to Sections 1107(a) and 1108 of the Bankruptcy Code.

Nextstep is represented by William B. Kingman, Esq., at the Law
Offices of William B. Kingman, PC.

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


NNN 400 CAPITOL: Can Use Cash Collateral on Interim Basis
---------------------------------------------------------
Judge Kevin Gross of the U.S. Bankruptcy Court for the District of
Delaware allowed NNN 400 Capitol Center 16, LLC and its affiliated
Debtors to use cash collateral on an interim basis.  

Judge Gross held that the Debtor's Secured Creditor will:

        (a) receive monthly cash payments from the Debtor for
non-default interests in the amount of $162,000;

        (b) be granted superpriority administrative claims against
the Debtors, having priority in right of payment over any and all
other obligations, liabilities and indebtedness of the Debtors,
subject to the U.S. Trustees fees and any carve-out, and only to
the extent that the adequate protection liens are insufficient to
protect the Secure Creditor against diminution in the value of its
interests;

        (c) be granted replacement liens on all of the Debtors'
assets, whether owned or acquired pre-petition or post-petition;

        (d) receive from the Debtors a weekly cash flow and
disbursement reports beginning January 2, 2017, disclosing all
rents and other incomes earned by or at the Property and all
distributions made on account thereof for the preceding week; and

        (e) receive from the Debtors an accounting, on or before
January 9, 2017, of all incomes and expenses relating to the
Property for the period September 1, 2016 through the date of such
accounting.

A final hearing on the Debtors' motion will be held on January 20,
2017 at 12:00 p.m.  The deadline for the filing of objections is
set on January 13, 2017.

A full-text copy of the Interim Order, dated December 22, 2016, is
available at https://is.gd/qJbRLH

         About NNN 400 Capitol Center 16, LLC

NNN 400 Capitol Center 16, LLC (Bankr. D. Del. Case No. 16-12728),
and its Debtor affiliates: NNN 400 Capitol Center 10, LLC; NNN 400
Capitol Center 11, LLC; NNN 400 Capitol Center 12, LLC; NNN 400
Capitol Center 13, LLC (Bankr. D. Del. Case No. 16-12733 through
16-12733); NNN 400 Capitol Center 14, LLC; NNN 400 Capitol Center
15, LLC; NNN 400 Capitol Center 17, LLC; NNN 400 Capitol Center 18,
LLC; NNN 400 Capitol Center 19, LLC (Bankr. D. Del. Case No.
16-12735 through 16-12739); NNN 400 Capitol Center 2, LLC; NNN 400
Capitol Center 20, LLC; NNN 400 Capitol Center 21, LLC; NNN 400
Capitol Center 22, LLC (Bankr. D. Del. Case No. 16-12741 through
16-12744); NNN 400 Capitol Center 24, LLC; NNN 400 Capitol Center
26, LLC; NNN 400 Capitol Center 27, LLC; NNN 400 Capitol Center 28,
LLC; NNN 400 Capitol Center 3, LLC; NNN 400 Capitol Center 32, LLC;
NNN 400 Capitol Center 4, LLC; NNN 400 Capitol Center 5, LLC; NNN
400 Capitol Center 6, LLC; and NNN 400 Capitol Center 9, LLC
(Bankr. D. Del. Case No. 16-12746 through 16-12755) filed separate
Chapter 11 bankruptcy petitions on December 9, 2016.  

The cases are assigned to Judge Kevin Gross.  Joint Administration
is pending.

The petitions were signed by Charles D. Laird & Peggy Laird on
behalf of Charles D. Laird and Peggy Laird Revocable Trust dated
4/21/1999, member.  

At the time of filing, NNN 400 Capitol Center 16, NNN 400 Capitol
Center 10 and NNN 400 Capitol Center 11 estimated both assets and
liabilities at $10 million to $50 million each.

Thomas Joseph Francella, Jr., Esq., at Whiteford, Taylor & Preston
LLC serves as the Debtors' counsel; and Rubin and Rubin, P.A.
serves as the Debtors' Special Corporate & Litigation Counsel.


NORDICA SOHO: Wants Solicitation Period Extended Thru March 3
-------------------------------------------------------------
Nordica Soho LLC requests the U.S. Bankruptcy Court for the
Southern District of New York to extend its exclusive period to
solicit acceptances to its filed plan of reorganization from
December 23, 2016 to March 31, 2017.

The Debtor filed a Chapter 11 plan of reorganization, together with
an accompanying disclosure statement, on September 26, 2016, within
the exclusive plan filing period.  According to the Debtor, without
the requested extension, the exclusive period within which only the
Debtor can solicit acceptances to its Plan, had already expired on
December 23.

Under the Plan, the Debtor will sell its principal asset consisting
of two parcels of real property located at 182-182 Spring Street,
New York, New York, and then distribute the net proceeds of sale to
the holders of allowed claims based upon the priority scheme
established under the Bankruptcy Code.

However, the Debtor will still be filing an application to retain
Maltz Auctions, Inc. to market its Property and conduct an auction
sale in early February 2017, under bidding procedures that have
been negotiated between the Debtor and its first mortgage lienor.
In addition, a combined hearing on approval of the Disclosure
Statement and confirmation of the Plan has been scheduled for
February 21, 2017.

                              About Nordica Soho

Nordica Soho LLC, based in New York, NY, filed a Chapter 11
petition (Bankr. S.D.N.Y. Case No. 16-11856) on June 28, 2016. The
petition was signed by Nanci Hom and Harry Shapiro, co-managers.
The Hon. Shelley C. Chapman presides over the case. In its
petition, the Debtor estimated $10 million to $50 million in assets
and $10 million to $50 million in liabilities.

Kevin J. Nash, Esq., at Goldberg Weprin Finkel Goldstein LLP, to
act as bankruptcy counsel.  The Debtor employs Holliday Fenoglio
Fowler, LLP as real estate broker.

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


NORTEL NETWORKS: Seeks Approval of $565 Million Accord with PBGC
----------------------------------------------------------------
Nortel Networks Inc. and certain of its affiliates ask the Delaware
bankruptcy court to enter an order authorizing and approving the
entry of the Debtors into the agreement settling the claims of the
Pension Benefit Guaranty Corp. and related issues, dated December
20, 2016.

A hearing on the request is set for Jan. 9.  Objections are due
Jan. 5.

The Debtors tell the Court that the settlement would resolve one of
the largest claims filed against the Debtors and further their
efforts to confirm a chapter 11 plan in their cases and to wind
down their estates.  As a result of a mediation overseen by the
Court-appointed mediator, Judge Joseph Farnan, the Debtors and the
PBGC have reached an agreement that provides the PBGC with a single
allowed general unsecured claim against each of the Debtors in
their respective Chapter 11 Cases in the amount of $624,601,972,
subject to a cap on the PBGC's right to receive distributions on
such allowed claims in the maximum aggregate amount of
$565,000,000.  This allowed claim, as capped, would be granted in
full satisfaction of any claims the PBGC may have against the
Debtors, which have been asserted in an amount in excess of
$700,000,000.

As part of the settlement, the PBGC also has agreed to support the
approval of the Settlement and Support Agreement and to vote in
favor of the Debtors' First Amended Joint Chapter 11 Plan of Nortel
Networks Inc. and Certain of Its Affiliated Debtors, filed on
December 1, 2016.

The Settlement Agreement, the Debtors explain, provides substantial
benefits to the Debtors, their estates and their creditors.  The
Settlement Agreement represents a material compromise by the PBGC
of the PBGC Claims, in significantly reducing the amount the PBGC
stands to recover under the Plan compared to the amounts of the
claims it has asserted against the Debtors, and granting only a
general unsecured claim in favor of the PBGC as compared to the
various administrative priority claims it asserted. Equally
important, the PBGC's agreement to support the Plan avoids the cost
and distraction of addressing any objections that had been or may
have been lodged by the PBGC against the Plan and further clears a
path for bringing the Debtors’ bankruptcy cases to a close.

Since the Petition Date, Nortel has sold its business units and
other assets to various purchasers, generating proceeds of over
$7.3 billion that have been placed in escrow accounts pending
allocation among the various selling entities. Having failed to
negotiate a consensual allocation, a cross-border trial to
determine such allocation was held in 2014 before this Court and
the Canadian Court.  Decisions on the allocation were issued in May
and June 2015, and are under appeal in both the U.S. and Canada.
The only task remaining for these Debtors is the distribution of
their assets to their creditors.

                      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.


OCI BEAUMONT: S&P Affirms 'CCC+' CCR & Revises Outlook to Positive
------------------------------------------------------------------
S&P Global Ratings affirmed its 'CCC+' corporate credit rating on
U.S.-based methanol and ammonia producer OCI Beaumont LLC.  At the
same time, S&P revised its outlook on the corporate credit rating
to positive from stable.  S&P also raised its issue-level rating on
the company's first-lien senior secured term loan to 'B' from 'B-',
and recovery rating on the term loan to '1' from '2'.  The '1'
recovery rating indicates S&P's expectation of very high (90%-100%)
recovery in the event of a default.

"The positive outlook considers the prospects for an improvement in
operating performance relative to our previous expectations given
the recent uptick in methanol and ammonia prices relative to
trough-like prices achieved in the third quarter of 2016," said S&P
Global Ratings credit analyst Paul Kurias.  "However, prices and
operating performance have been volatile for much of 2016 and the
sustainability of the current improvement or the potential for
future price improvement is not entirely certain at this point," he
said.

The revision of the outlook also considers some reduction in
liquidity risks following the company's amended covenants, which
S&P now considers the weakened operating performance and result in
our expectation that the company will be able to maintain moderate
cushion under the covenants over at least the next year.  Prior to
the amendment, S&P believed the company would have been unable to
meet its maintenance covenants.  Still, despite the reduction in
liquidity risk, S&P continues to believe that liquidity sources
will not exceed 1.2x of uses and it continues to view liquidity as
less than adequate.  S&P views the subordinated loan received by
OCI Beaumont from a group company as debt.  OCI Beaumont used the
proceeds to pay down its $200 million secured term loan.  S&P
notes, however, that the payment-in-kind feature built into the
subordinated term loan reduces the cash interest burden on OCI
Beaumont.  The subordinated loan forms a meaningful portion of the
capital structure.

The positive outlook reflects S&P's belief that the recent covenant
amendment and capital structure changes lower the risk of covenant
noncompliance and that attendant liquidity risks have diminished.
Importantly, S&P anticipates that earnings in 2017 could improve
over 2016 levels reflecting pricing improvements in both
commodities, ammonia and methanol, from trough levels achieved in
2016, though in S&P's current ratings it factors in only modest
improvements, given the uncertainty in the company's industry
segments, and the historical volatility in pricing.  S&P believes
that the ratio of FFO to total debt for 2017 is likely to be in the
mid-single-digit level from levels below 5% S&P anticipates in
2016, and that debt to EBITDA for 2017 is likely to be between 6x
and 7x an improvement over anticipated 2016 levels of above 7x
(about 4x on a senior secured debt basis).  S&P currently do not
factor in any change in the company's ownership and will
re-evaluate the impact on credit quality if any following the
closing of the company's proposed tender offer.  S&P assumes the
company will make dividend payments in a manner that does not
strain liquidity.

S&P could revise our outlook to stable within the next 12 months if
the company's operating performance does not improve from current
levels or weakens or if liquidity tightens so that S&P believes
sources of funds will be lower than uses.  This could happen if
operating performance and cash flow deteriorate below our expected
levels so that the ratio of FFO to total debt remains at or below
5% and the ratio of debt to EBITDA is around 7x or higher.

"We believe there is an at least one in three chance that operating
performance could improve beyond levels considered for the rating.
We could consider a one-notch upgrade in the next 12 months if the
company maintains or further improves its liquidity position, and
if operating performance in the fourth quarter of 2016 and early
2017 support prospects for an improvement in credit metrics to
levels beyond our expectations.  We could raise ratings if it
becomes apparent to us over the next few months that as a result of
ongoing improvement in operating performance, the 2017 ratio of FFO
to debt could approach the higher end of the mid-single-digit
levels, and the 2017 debt to EBITDA could approach 6x levels as a
result of greater pricing improvement than we currently assume for
the ratings.  We could also consider a higher rating if a potential
change in ownership structure leads us to believe that financial
policies will be supportive of an improving credit profile," S&P
said.


PBA EXECUTIVE: Swift Capital Wants Court to Prohibit Cash Use
-------------------------------------------------------------
Secured Creditor, Swift Financial Corporation, d/b/a Swift Capital,
asks the U.S. Bankruptcy Court for the Southern District of Florida
to prohibit PBA Executive Suites, LLC, from using cash collateral.

Swift Capital contends that it is a secured creditor in all of the
Debtor's personal property, including cash collateral, accounts,
fixtures, furniture, and equipment, pursuant to their Future
Receivables Sales Agreement.

Pursuant to the terms of the Future Receivables Sales Agreement,
Swift Capital purchased $227,809 in future receivables of the
Debtor in exchange for a purchase price of $190,000.  The Debtor
was to remit the purchase price from the business' collected
receivables on a weekly basis.

Swift Capital tells the Court that the Debtor has ceased making
payments due and owed under the Agreement.  It further tells the
Court that the Debtor is still required to pay the remainder of the
sums due and owed under the Agreement in the amount of $189,841.

Swift Capital contends that in Schedule D of the Debtor's
Schedules, the Debtor failed to list Swift Capital as a secured
creditor in any of the assets that serve as its collateral.  Swift
Capital further contends that it listed Swift Capital as an
unsecured creditor under Schedule F, and did not list their
Agreement as an executory contract under Schedule G.

Swift Capital notes that the Debtor failed to list Swift Capital as
a secured creditor in the collateral.  Swift Capital further notes
that the Debtor likewise failed to mention Swift Capital as a
secured creditor in its Cash Collateral Motion.

Swift Capital asserts that the Debtor continues to operate as
though Swift Capital is not a secured party, despite its properly
perfected security interest in all of its personal property,
including cash generated from leases, and the furniture, fixtures,
and equipment.

Swift Capital further asserts that the Debtor has not obtained its
consent to use its cash collateral or has been given authorization
by the Court to use cash collateral.  Swift Capital adds that it is
entitled to adequate protection.

A full-text copy of Swift Financial's Motion, dated Dec. 26, 2016,
is available at
http://bankrupt.com/misc/PBAExecutive2016_1626136epk_25.pdf

Swift Financial Corporation, d/b/a Swift Capital, is represented
by:

          Ido J. Alexander, Esq.
          LEIDERMAN SHELOMITH ALEXANDER + SOMODEVILLA PLLC
          2 S. Biscayne Blvd., Suite 2300
          Miami, FL 33131
          Telephone: (305) 894-6163
          E-mail: ija@lsaslaw.com

                About PBA Executive Suites, LLC

PBA Executive Suites, LLC, sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. S.D. Fla. Case No. 16-26136) on Dec. 3,
2016.  The petition was signed by William Smith, CFO.  The Debtor
is represented by Brian K. McMahon, Esq., at Brian K. McMahon, P.A.
At the time of the filing, the Debtor estimated assets at $500,001
to $1 million and liabilities at $100,001 to $500,000.


PBF HOLDING: S&P Affirms 'BB' Corp. Credit Rating; Outlook Stable
-----------------------------------------------------------------
S&P Global Ratings said it affirmed its 'BB' corporate credit
rating on Parsippany, N.J.-based PBF Holding Co. LLC.  The outlook
is stable.  The 'BBB-' senior secured rating is unchanged.  The '1'
recovery rating is unchanged, and indicates very high (90% to 100%)
recovery of principal if a default occurs.

"The stable outlook reflects our expectation that PBF will
integrate its refinery acquisitions and improve its operating
performance, reduce balance sheet leverage, and maintain ample
liquidity," said S&P Global Ratings credit analyst Michael Grande.
"We believe net debt to EBITDA could fluctuate between 1.5x and 4x
through the refining cycle, but expect PBF to reduce leverage below
4x in 2017."

S&P could lower the rating if market conditions or operational
performance weaken, or the new refinery acquisitions significantly
underperform, such that consolidated total debt to EBITDA increases
above 4x.

S&P could consider an upgrade over time if it has increased
confidence that the refineries will exhibit good profitability
through various commodity price cycles, PBF Logistics meaningfully
increases fee-based cash flow from third parties, and PBF
demonstrates it can maintain consolidated total debt to EBITDA
below 2.5x, even during midcycle price conditions as it continues
to expand its logistics master limited partnership.


PERFORMANCE SPORTS: Asks Court to Approve Employee Bonus Plans
--------------------------------------------------------------
BPS US Holdings Inc. and its affiliated debtors, including
Performance Sports Group, ask the Delaware bankruptcy court to
approve the Debtors' key employee incentive plan for certain senior
executives and key employee retention plan for certain employees,
and authorize the payments contemplated under those plans.

Matt Chiappardi, writing for Bankruptcy Law360, reported that
Performance Sports Group proposes to pay roughly $5 million in
bonuses, including additional compensation to executives that could
exceed $3.5 million depending on the price the athletic equipment
maker fetches at auction.

The bonus plans, the Debtors explain, will enable them to prosecute
and complete an orderly and value-maximizing sale process in the
optimal manner.  The goals of these plans are:

     -- incentivize and retain essential personnel through the
closing of a sale of substantially all of the Debtors' assets and
operations;

     -- facilitate the successful sale of the Company;

     -- reward essential employees if critical goals are satisfied;
and

     -- maximize the value of the Debtors' estates for the benefit
of all stakeholders.

According to the Debtors, the KEIP and the KERP enjoy the support
of both the Creditors' Committee and the Equity Committee.

The Debtors have identified six senior executives to receive
payments under the KEIP and 60 non-insider employees to receive
payments under the KERP, all of whom possess institutional
knowledge and skills that are essential to the Debtors'
restructuring efforts.

With respect to Eligible Employees participating in the KERP, both
the names and titles for those individuals have been redacted and
filed under seal.

As previously reported by the Troubled Company Reporter, the
Debtors have entered into an agreement for the going-concern sale
of substantially all of their assets to a group of investors led by
Sagard Capital Partners, L.P., which holds approximately 17% of the
Company's equity, subject to a Court-supervised auction process.
Pursuant to the Stalking Horse Agreement, the Stalking Horse
Purchaser has agreed to acquire substantially all of the assets for
the base purchase prices of U.S.$575 million, plus the assumption
of related operating liabilities, and serve as a "stalking horse"
bidder in the Bankruptcy Proceedings.

A hearing on the Bid Procedures Motion was held on November 30,
2016, after which the Debtors submitted, and the Court approved, a
revised form of order approving the Bid Procedures Motion which
consensually resolved objections filed by the US Trustee and the
Committees.  Pursuant to the Bid Procedures Order, the Court
established a bid deadline of January 25, 2017, scheduled an
auction on January 30, 2017, and scheduled a hearing on February 6,
2017 to consider the Sale.

                            *     *     *

On December 15, 2016, Performance Sports Group Ltd. issued a change
of status notice pursuant to Section 11.2 of National Instrument
51-102, providing notice that it had become a "venture issuer" as
defined in National Instrument 51-102 upon the de-listing of the
Company's common stock from the New York Stock Exchange and the
Toronto Stock Exchange, which occurred on November 28, 2016 and
December 8, 2016, respectively.  

On December 14, Performance Sports Group provided 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").

The Company is subject to a management cease trade order ("MCTO")
issued by the Ontario Securities Commission (the "OSC"), 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, 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.

                    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.

Andrew R. Vara, Acting U.S. Trustee for Region 3, on Nov. 10
appointed three creditors of BPS US Holdings, Inc., parent of
Performance Sports, to serve on the official committee of
unsecured
creditors.  The Creditors' Committee retained by Blank Rome LLP as
counsel, Cassels Brock & Blackwell LLP as Canadian co-counsel, and
Province Inc. as financial advisor.

The U.S. Trustee appointed a committee of equity security holders.

The equity committee is represented by Natalie D. Ramsey, Esq.,
and
Mark A. Fink, Esq., at Montgomery, McCracken, Walker & Rhoads,
LLP;
and Robert J. Stark, Esq., Steven B. Levine, Esq., James W. Stoll,
Esq., and Andrew M. Carty, Esq., at Brown Rudnick LLP.

                           *     *     *

The Bankruptcy Court for the District of Delaware and the Ontario
Superior Court of Justice have granted the Company approval of,
among other things, the bidding procedures and "stalking horse"
bid
protections in connection with a "stalking horse" asset purchase
agreement, under which an acquisition vehicle to be co-owned by an
affiliate of Sagard Capital Partners, L.P. and Fairfax Financial
Holdings Limited, intends to acquire substantially all of the
assets of the Company and its North American subsidiaries for U.S.
$575 million in aggregate and assume related operating
liabilities.

Interested parties must submit qualified bids to acquire
substantially all of the assets of the Company no later than
January 25, 2017.  The auction is set for January 30, 2017.  A
final sale approval hearing is expected to take place shortly
after
completion of the auction with the anticipated closing of the
successful bid to occur by the end of February 2017, subject to
receipt of applicable regulatory approvals and the satisfaction or
waiver of other customary closing conditions.


PERFORMANCE SPORTS: Coliseum Capital Unloads Shares
---------------------------------------------------
Coliseum Capital Management, LLC said in a filing with the
Securities and Exchange Commission that the Fund and its affiliated
entities ceased to be the beneficial owners of more than 5% of the
Common Shares of Performance Sports Group Ltd. on Dec. 16, 2016.

As of Dec. 15, the fund said it may be deemed to beneficially own
1,628,202 shares or roughly 3.57% of PSG's shares.

In a prior report by the Troubled Company Reporter, Coliseum
disclosed that as of Nov. 29, 2016, it beneficially owned 4,310,239
common shares, no par value, of Performance Sports Group Ltd. which
represents 9.5% percent of the shares outstanding.  At that time,
Coliseum said it was interested in buying PSG.  According to that
filing, Coliseum said, "the financial advisor of Performance Sports
Group Ltd has provided Coliseum with the necessary consent to
commence discussions with an affiliate of one of the co-owners of
the purchaser under the Asset Purchase Agreement that the Company
entered in connection with its restructuring process and its
representatives about the possibility of Coliseum and the
Purchaser, and/or one or more entities to be formed at their
direction, acting together with respect to potential plans or
proposals related to a potential transaction involving the
Company."

As previously reported by the Troubled Company Reporter, the
Debtors have entered into an agreement for the going-concern sale
of substantially all of their assets to a group of investors led by
Sagard Capital Partners, L.P., which holds approximately 17% of the
Company's equity, subject to a Court-supervised auction process.
Pursuant to the Stalking Horse Agreement, the Stalking Horse
Purchaser has agreed to acquire substantially all of the assets for
the base purchase prices of U.S.$575 million, plus the assumption
of related operating liabilities, and serve as a "stalking horse"
bidder in the Bankruptcy Proceedings.

A hearing on the Bid Procedures Motion was held on November 30,
2016, after which the Debtors submitted, and the Court approved, a
revised form of order approving the Bid Procedures Motion which
consensually resolved objections filed by the US Trustee and the
Committees.  Pursuant to the Bid Procedures Order, the Court
established a bid deadline of January 25, 2017, scheduled an
auction on January 30, 2017, and scheduled a hearing on February 6,
2017 to consider the Sale.

                    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.

Andrew R. Vara, Acting U.S. Trustee for Region 3, on Nov. 10
appointed three creditors of BPS US Holdings, Inc., parent of
Performance Sports, to serve on the official committee of
unsecured
creditors.  The Creditors' Committee retained by Blank Rome LLP as
counsel, Cassels Brock & Blackwell LLP as Canadian co-counsel, and
Province Inc. as financial advisor.

The U.S. Trustee appointed a committee of equity security holders.

The equity committee is represented by Natalie D. Ramsey, Esq.,
and
Mark A. Fink, Esq., at Montgomery, McCracken, Walker & Rhoads,
LLP;
and Robert J. Stark, Esq., Steven B. Levine, Esq., James W. Stoll,
Esq., and Andrew M. Carty, Esq., at Brown Rudnick LLP.

                           *     *     *

The Bankruptcy Court for the District of Delaware and the Ontario
Superior Court of Justice have granted the Company approval of,
among other things, the bidding procedures and "stalking horse"
bid
protections in connection with a "stalking horse" asset purchase
agreement, under which an acquisition vehicle to be co-owned by an
affiliate of Sagard Capital Partners, L.P. and Fairfax Financial
Holdings Limited, intends to acquire substantially all of the
assets of the Company and its North American subsidiaries for U.S.
$575 million in aggregate and assume related operating
liabilities.

Interested parties must submit qualified bids to acquire
substantially all of the assets of the Company no later than
January 25, 2017.  The auction is set for January 30, 2017.  A
final sale approval hearing is expected to take place shortly
after
completion of the auction with the anticipated closing of the
successful bid to occur by the end of February 2017, subject to
receipt of applicable regulatory approvals and the satisfaction or
waiver of other customary closing conditions.


PETROLEUM PRODUCTS: Settles CPTDC Claim for $5MM
------------------------------------------------
Petroleum Products & Services, Inc., filed with the U.S. Bankruptcy
Court for the Southern District of Texas a first amended disclosure
statement in support of the Debtor's plan of reorganization.

Class 4 Allowed General Unsecured Claim of CPTDC is impaired under
the Plan.  Allowed Class 4 Claim of CTPDC will be paid in
accordance with the CPTDC settlement.

CPTDC has asserted a general unsecured claim in the amount of
$22,745,660.60.  The Debtor has disputed this claim.  The parties
have reached a mediated settlement of CPTDC's claim which provides
that CPTDC will receive settlement payment of $5 million over time
as payment in full of its claim in accordance with these terms:

         (i) $1 million of the CPTDC will be paid from the cash
             infusion within three days of entry of the
             confirmation court order;

        (ii) the remaining balance of $4 million of the CPTDC
             payment will be paid within 36 months after the
             Effective Date.  Alejandro Kiss or an affiliated
             entity will be responsible for satisfying $1.75
             million of this remaining balance of the CPTDC
             balance within 36 months after the Effective Date.  
             To the extent cash from Reorganized Debtor's
             operations is insufficient to pay the additional
             $2.25 million balance owed with respect to the CPTDC
             payment, it will be funded from new capital
             investment or refinancing of loans;

       (iii) the CPTDC Payment shall be secured by a deed of trust

             on the parcel of Kiss Real Estate located at 23518
             Coons Road, Houston, Texas.

        (iv) Alejandro Kiss shall execute a personal guarantee of
             the CPTDC payment.

         (v) CPTDC, CP International, Inc., Jiangsu Jinshi
             Machinery Group Co., Ltd., will release all claims
             against the Debtor, including release and
             cancellation of any equity interests in the Debtor
             asserted by any of these entities.  The Debtor will
             release all claims against CPTDC, CP International,
             Inc., Jiangsu Jinshi Machinery Group Co., Ltd.

On the Effective Date of the Plan, all property of the Debtor and
of its estate will vest in the Reorganized Debtor free and clear of
liens, claims and encumbrances, except as otherwise provided by the
terms of the Plan.

Current cash flow derived from operations will be used to pay
allowed claims as required by the Plan, together with the cash
infusion, the tax refund, and net litigation proceeds in accordance
with Articles III and IV of the Plan.

The Disclosure Statement is available at:

         http://bankrupt.com/misc/txsb16-31201-350.pdf

As reported by the Troubled Company Reporter on Oct. 11, 2016, the
Debtor filed with the Court a disclosure statement in support of
the Debtor's plan of reorganization.  Under that plan, holders of
allowed Class 3 General Unsecured Claims will be paid as follows:

     (a) After payment in full of allowed Class 1 Claims and the
         $200,000 payment allocated to the Debtor for operations,
         50% of the remaining balance of the tax refund will be
         paid, on a pro rata basis, to the holders of Allowed
         Class 3 Claims.  This payment will be made within 14 days
         of the Debtor's receipt of the Tax Refund;

     (b) Starting with the 3rd calendar quarter of 2017, each
         holder of an Allowed Class 3 claim will receive a pro
         rata share of the $125,000 quarterly Class 3 distribution
         for a period of 20 quarters or until the claims are paid
         in full without interest.  Payments will be made by the
         last day of the calendar quarter when due, with the first
         payment to be made to holders of Allowed Class 3 claim no
         later than Sept. 30, 2017; and

     (c) Each holder of an Allowed Class 3 claim will receive a
         pro rata portion of 50% of the net litigation proceeds
         until the claims are paid in full without interest.  The
         estimated return to Class 3 creditors from the allocable
         portion of the Tax Refund and the Class 3 quarterly
         distributions is 80% of the amount of anticipated allowed

              About Petroleum Products & Services, Inc.

Petroleum Products & Services, Inc. (dba Wellhead Distributors
Int'l and dba WDi) distributes API-6A wellhead equipment and valves
used in the petroleum and natural gas industries.

The Company filed a Chapter 11 bankruptcy petition (Bankr. S.D.
Tex., Case No. 16-31201) on March 4, 2016.  The petition was signed
by Alejandro Kiss, president.  The Debtor is represented by Josh T.
Judd, Esq., and Edward L. Rothberg, Esq., at Hoover Slovacek, LLP.
The case is assigned to Judge Marvin Isgur.  The Debtor estimated
assets and liabilities  in the range of $10 million to $50 million
and liabilities of at least $10 million.

The Debtor has engaged Hoover Slovacek, LLP, as counsel and Hirsch
Westheimer, P.C., as special litigation counsel.


PF ROOSEVELT: S&P Lowers Rating on 2014A & 2014A-T Bonds to 'BB+'
-----------------------------------------------------------------
S&P Global Services lowered its long-term rating to 'BB+' from
'BBB-' on the Public Finance Authority, Wis.' series 2014A and
taxable series 2014A-T multifamily housing revenue bonds (Roosevelt
Gardens Apartments), issued for PF Roosevelt LLC, N.Y. The outlook
is stable.

"The rating action reflects our view of the project's decline in
financial strength, poor loss coverage assessment, and vulnerable
operating performance," said S&P Global Ratings credit analyst
Aulii Limtiaco.

The stable outlook reflects S&P's view of the property's decline in
debt service coverage (DSC) compared with pro forma levels and its
deterioration in overall financial and operating performance, and
S&P's expectation that DSC will remain approximately the same in
fiscal 2016.


PLANET MERCHANT: Proposes to Sell Assets to Fund Exit Plan
----------------------------------------------------------
Planet Merchant Processing, Inc., has filed a Chapter 11 plan of
reorganization that will be funded from the proceeds generated from
the sale of almost all of its assets.

To fund its restructuring plan, the company will sell substantially
all of its assets to Planet Group, Inc. for $12.4 million or to
another buyer with a better offer.  

Assets not included in the sale such as the company's cash and
accounts receivable will be liquidated and the proceeds will be
disbursed in accordance with the terms of the plan.

Under the plan, all unsecured, non-priority claims will be paid on
a pro-rata basis from the proceeds of the bankruptcy estate after
full payment of Class 1 administrative claims, Class 2 secured
claims, and Class 3 unsecured priority claims.

No payments will be made to any party holding unsecured,
non-priority claim that has not paid amounts due to Planet Merchant
for goods or services provided by the company, according to the
company's restructuring plan filed on Dec. 15.

A copy of the plan and disclosure statement is available at:

     http://bankrupt.com/misc/PlanetMerchant_Plan12152016.pdf
     http://bankrupt.com/misc/PlanetMerchant_DS12152016.pdf

                About Planet Merchant Processing

Planet Merchant Processing, Inc. filed a Chapter 11 bankruptcy
petition (Bankr. D. Neb. Case No. 16-81243) on Aug. 17, 2016.  The
petition was signed by Dennis O'Brien, president.  The Debtor is
represented by Sam King, Esq., at McGill, Gotsdiner, Workman &
Lepp, P.C.  The case is assigned to Judge Thomas L. Saladino.  The
Debtor estimated $1 million to $50 million in assets and
liabilities.


PODIUM PERFORMANCE: Has Until Feb. 28 to Use Cash Collateral
------------------------------------------------------------
Judge Paul G. Hyman, Jr. of the U.S. Bankruptcy Court for the
Southern District of Florida authorized Podium Performance, LLC, to
continue using cash collateral which is subject to the lien of
SunTrust Bank on an interim basis.

SunTrust Bank agreed to the Debtor's use of cash collateral on
substantially the same terms previously agreed upon in the Court's
previous Cash Collateral Order, through Feb. 28, 2017.

The Court had previously authorized the Debtor to use cash
collateral through Dec. 31, 2016.

The Debtor owes SunTrust Bank the principal sum of $466,614 and
accrued and unpaid interest at the non-default rate in the amount
of $311.07, plus attorney's fees and costs, and the additional
amounts due and owing under the Loan Documents.

The approved Budget provided for total salaries and wages in the
amount of $29,820, total fixed business expenses in the amount of
$46,757, and total other expenses in the amount of $7,168, for the
months of January 2017 and February 2017.

The Debtor was directed to make adequate protection payments to
SunTrust Bank in the amount of $2,784 on Jan. 1, 2017, and the same
amount on Feb. 1, 2017.

The Debtor was further directed to make quarterly payments due and
owing to the United States Trustee.

SunTrust Bank is granted a replacement lien on all property
acquired or generated post-petition by the Debtor to the same
extent and priority, and of the same kind and nature as SunTrust
Bank's prepetition liens and security interests in the Cash
Collateral.

The Debtor agreed to use best efforts to meet the following
deadlines:

     (i) obtain approval of any Disclosure Statement filed by the
Debtor on or before January 31, 2017;

     (ii) obtain an order approving Debtor’s Plan on or before
March 15, 2017; and

     (iii) for the Effective Date of any Plan filed by the Debtor
to take place on or before April 1, 2017.

Judge Hyman held that the Debtor's authorization to use cash
collateral will automatically terminate upon the the earlier of a
Cash Collateral Order Default, upon confirmation of a plan of
reorganization, or on Feb. 28, 2017.

A full-text copy of the Order, dated Dec. 23, 2016, is available at

http://bankrupt.com/misc/PodiumPerformance2016_1621400pgh_44.pdf

A full-text copy of the approved Budget, dated Dec. 23, 2016, is
available at
http://bankrupt.com/misc/PodiumPerformance2016_1621400pgh_44_1.pdf

                    About Podium Performance

Podium Performance, LLC, filed a Chapter 11 petition (Bankr. S.D.
Fla. Case No. 16-21400) on Aug. 18, 2016.  The petition was signed
by Peter Willis, managing member.  The Debtor is represented by
Nadine V. White-Boyd, Esq., at White-Boyd Law.  The Debtor
estimated assets at $100,001 to $500,000 and liabilities at
$500,001 to $1 million at the time of the filing.


PORTAGE ELECTRIC: Hires Kraft Auction to Sell Personal Property
---------------------------------------------------------------
Portage Electric Supply Corporation seeks authorization from the
U.S. Bankruptcy Court for the Northern District of Indiana to
employ Kraft Auction Service Auctioneers to sell the Debtor's
personal property.

The proposed agreement between Kraft Auction and the Debtor are:

   -- Kraft Auction would auction the property on January 25,
      2017, subject to Court approval;

   -- Kraft Auction has requested a budget of $800 for all
      advertising expenses;

   -- except as agreed upon by the debtor-in-possession and Kraft
      Auction, there will be no minimum bids and no reserve
      selling price;

   -- Kraft Auction will have the authority to sell items of
      Debtor's personal property individually or in lots; and

   -- as compensation for promoting, advertising, and conducting
      the auction, Kraft Auction will be paid 20% of the gross
      selling price of the Debtor's personal property.

After all of the proceeds of the auction have been collected and
the auction has been terminated, Kraft Auction will deduct its 20%
commission, its $800 fee, and any expenses for pre- and
post-auction clean-up and garbage disposal; Kraft Auction will then
remit $6,000 or 15% of the remainder of the auction proceeds to the
debtor-in-possession operating account, whichever is greater, for
administrative purposes; the remainder of the auction proceeds will
be distributed directly to Peoples Bank.

Jonathan Kraft, owner of Kraft Auction, 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.

Kraft Auction can be reached at:

       Jonathan Kraft
       Kraft Auction Service Auctioneers
       27 South 117 East
       Valparaiso, IN 46383
       Tel: (219) 973-9240

                    About Portage Electric

Portage Electric Supply, Corporation filed a chapter 11 petition
(Bankr. N.D. Ind. Case No. 16-31658) on July 22, 2016. The petition
was signed by Bridget L. Farkas, president.

The Debtor is represented by Gordon E. Gouveia, Esq., at Gordon E.
Gouveia, LLC. The case is assigned to Judge Harry C. Dees, Jr.

The Debtor disclosed total assets at $902,451 and total liabilities
at $1.77 million.

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


PRECISION OPTICS: Dolphin Offshore Holds 18.2% Stake as of Dec. 27
------------------------------------------------------------------
In an amended Schedule 13D filed with the Securities and Exchange
Commission, Dolphin Offshore Partners, L.P., Dolphin Mgmt.
Services, Inc., and Peter E. Salas disclosed that as of Dec. 27,
2016, they beneficially own 1,612,341 shares of common stock,
$0.001 par value per share, of Precision Optics Corporation, Inc.,
representing 18.17 percent of the shares outstanding.

"The Reporting Persons have no current plans or proposals which
relate to or would result in any of the matters described in
paragraphs (a) though (j) of Item 4 of Schedule 13D.  The Reporting
Persons intend to review their investment in the Issuer on a
continuing basis, and, depending on various factors, including,
without limitation, the Issuer's financial positions, the price
levels of the aggregate number of outstanding shares of Common
Stock, conditions in the securities market and general economic and
industry conditions, the Reporting Persons may, in the future, take
such actions with respect to their shares of the Issuer's capital
stock as they deem appropriate, including, without limitation,
purchasing shares of Common Stock; selling shares of Common Stock;
taking any action to change the composition of the Issuer's board
of directors, taking any other action with respect to the Issuer or
any of its securities in any manner permitted by law or otherwise
changing their intention with respect to any and all matters
referred to in paragraphs (a) through (j) of Item 4 of Schedule
13D."

A full-text copy of the regulatory filing is available at:

                      https://is.gd/qamirV

                     About Precision Optics

Headquartered in Gardner, Massachusetts, Precision Optics
Corporation, Inc., has been a developer and manufacturer of
advanced optical instruments since 1982.  The Company designs and
produces high-quality micro-optics, medical instruments and other
advanced optical systems.  The Company's medical instrumentation
line includes laparoscopes, arthroscopes and endocouplers and a
world-class product line of 3-D endoscopes for use in minimally
invasive surgical procedures.

Precision Optics reported a net loss of $1.03 million on $3.91
million of revenues for the year ended June 30, 2016, compared to a
net loss of $1.17 million on $3.91 million of revenues for the year
ended June 30, 2015.

As of Sept. 30, 2016, Precision Optics had $1.94 million in total
assets, $1.58 million in total liabilities and $354,665 in total
stockholders' equity.

Stowe & Degon LLC, in Westborough, Massachusetts, issued a "going
concern" qualification on the consolidated financial statements for
the year ended June 30, 2016, citing that the Company has suffered
recurring net losses and negative cash flows from operations, which
raises substantial doubt about its ability to continue as a going
concern.


PRESSURE BIOSCIENCES: Files Preliminary Prospectus with SEC
-----------------------------------------------------------
Pressure Biosciences, Inc., filed with the Securities and Exchange
Commission a Form S-1 registration statement relating to the
offering of an undetermined amount of shares of the Company's
common stock, $0.01 par value per share, and warrants to purchase  
          shares of the Company's common stock at a public offering
price of $____ per share and $_____ per warrant.  The warrants have
an exercise price of $____ per share and expire five years from the
date of issuance.  Each share of common stock purchased will be
accompanied by one warrant.  The shares and warrants will trade
separately.

The Company's common stock is presently quoted on the OTCQB under
the symbol "PBIO".  The Company intends to apply to have its common
stock and warrants listed on The NASDAQ Capital Market under the
symbols "PBIO" and "PBIOW," respectively.  No assurance can be
given that its application will be approved.  On Dec. 21, 2016, the
last reported sale price for the Company's common stock on the
OTCQB was $0.26 per share.  There is no established public trading
market for the warrants.  No assurance can be given that a trading
market will develop for the warrants.

A full-text copy of the Form S-1 is available for free at:

                       https://is.gd/eecx08

                   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.

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.

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.


R&B VENTURES: Seeks Authorization to Use Chantry Cash Collateral
----------------------------------------------------------------
R&B Ventures, LLC seeks authorization from the U.S. Bankruptcy
Court for the Eastern District of Washington to use the cash
collateral of Chantry, Inc. and/or Allen and Dolores Chantry.

The Debtor is engaged in the manufactured home and space rentals in
a 7.5 acres park at Newport, Washington.  The real estate together
with seven mobile or manufactured homes were purchased from
Chantry, Inc., where Chantry received a Promissory Note from Debtor
requiring, among other obligations, the Debtor to pay $2,517 per
month, including interest.  The Promissory Note is secured by a
first lien upon the real estate sold and is evidenced by a Deed of
Trust.

The Debtor believes that, other than real estate taxes secured by
the real estate, Chantry holds the only lien upon the property,
with a balance due of approximately $272,200, according to its
calculations.  Chantry contends that the balance due is greater.
The Debtor further believes that the property securing the Chantry
claim has a value in excess of $1 million.

The Debtor requires the immediate use of proceeds from Debtor's
deposits from rents collected -- which at present, is approximately
$6,172 per month -- to minimize disruption and to avoid the
termination of its business operations, avoiding immediate and
irreparable harm to its business pending confirmation and to the
tenants occupying the property.  

The Debtor proposes to use approximately $2,333 from the rental
proceeds, for these itemized monthly operating expenses:

        (a) City of Newport for Water and sewer: $1,100
        
        (b) Pend Oreille Utility District for Electric charges:
$150

        (c) Waste Management for Trash disposal cost: $225

        (d) Insurance: $158

        (e) Road maintenance and snow removal: $350

        (f) Maintenance on 7 homes: $350

The Debtor intends to make regular monthly payments of its
pre-petition obligations to Chantry.

A full-text copy of the Debtor's Motion, dated December 22, 2016,
is available at https://is.gd/wXW9uH

            About R&B Ventures, LLC

R&B Ventures, LLC, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. E.D. Wash. Case No. 16-03414) on Nov. 1,
2016.  The petition was signed by Richard Oxford, member.  At the
time of the filing, the Debtor estimated assets of less than $1
million and liabilities of less than $100,000.

Dan O'Rourke, Esq., at Southwell & O'Rourke, P.S., serves as the
Debtor's bankruptcy counsel.

No official committee of unsecured creditors has been appointed in
the Chapter 11 case of R&B Ventures, LLC, as of Nov. 29, according
to a court docket.


REAM PROPERTIES: Unsecureds To Get $18,000 Over Five Years
----------------------------------------------------------
Ream Properties, LLC, filed with the U.S. Bankruptcy Court for the
Middle District of Pennsylvania an amended disclosure statement
regarding the Debtor's amended plan of reorganization dated Dec.
12, 2016.

Class 3 Allowed Unsecured Claims -- estimated at $121,101 -- are
impaired under the Plan.  The holders will be paid $18,000 over
five years in equal monthly installments.

The funds needed to effectuate the payments proposed under the Plan
will be generated from rental income from the operations of REAM
Properties, LLC.  The Plan's feasibility is likely as the rental
income is sufficient to pay the carrying costs, insurance,
maintenance, etc. of the properties.  Risk factors that would
impede confirmation are an unusually high vacancy rate or the
illness or death of the sole member.  The sole member of Debtor,
Robert J. Pauletta, Jr., will also contribute personal funds, if
necessary, to reorganize Debtor.

The Disclosure Statement is available at:

         http://bankrupt.com/misc/pamb15-02980-145.pdf

As reported by the Troubled Company Reporter The U.S. Bankruptcy
Court for the Middle District of Pennsylvania is set to hold a
hearing on Jan. 31, at 9:30 a.m., to consider approval of the
revised disclosure statement filed by Ream Properties, LLC on Dec.
14.

The hearing will take place at The Ronald Reagan Federal Building,
Bankruptcy Courtroom, Third Floor, Third and Walnut Streets,
Harrisburg, Pennsylvania.  Objections are due by Jan. 19.

In October, Judge Mary D. France of the U.S. Bankruptcy Court for
the Middle District of Pennsylvania has denied approval of the
Debtor's disclosure statement and directed the Debtor to file a
first amended disclosure statement within 45 days of the Oct. 18,
2016 court order.

                      About Ream Properties

Ream Properties, LLC, was formed in 2008 for the purpose of
rehabbing and renting affordable properties in the greater
Harrisburg area resulting in the restoration of properties to the
tax and utility roles.

The Debtor sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. M.D. Pa. Case No. 15-02980) on July 15, 2015, listing
under $1 million in assets and liabilities.

Craig A. Diehl, Esq., at the Law Offices of Craig A. Diehl serves
as the Debtor's bankruptcy counsel.


REDEEMED CHRISTIAN: To Sell Assets To Fund Exit Plan
----------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Texas will
consider approval of the Chapter 11 plan of reorganization of The
Redeemed Christian Church of God Eagle Believers Chapel at a
hearing on Jan. 26.

The hearing will be held at 9:30 a.m., at the Plano Bankruptcy
Courtroom, Third Floor, 660 N. Central Expressway, Plano, Texas.

Creditors have until Jan. 24 to cast their votes.  The deadline for
filing objections is Jan. 20.

Class 3 unsecured creditors will get 100% of their allowed claims
under the proposed restructuring plan.  These creditors will share
pro rata on the proceeds from the sale of the Debtor's real
property in Lewisville, Texas, after payment of Class 1
administrative claims and Class 2 secured claim of Life Changers
International Church.

The total amount of Class 3 unsecured claims is $4,500 based on the
Debtor's books and records.

The Debtor will sell all its assets to fund the Plan.  The Debtor
will surrender the Lewisville property to its secured lender in the
event it is unable to sell the property, according to its
disclosure statement filed on Dec. 15.

A copy of the disclosure statement is available for free at
http://bankrupt.com/misc/RedeemedChristian_DS12152016.pdf

                About Redeemed Christian Church

Headquartered in Lewisville, TX, The Redeemed Christian Church of
God Eagle Believers Chapel DBA RCCG Eagle Believers Chapel filed
for Chapter 11 protection (Bankr. E.D. Tex. Case No.16-40620) on
April 14, 2016 with estimated assets of $1 million to $10 million
and estimated liabilities of $1 million to $10 million. The
petition was signed by Nosa Evbuomwan, authorized representative.


REGATTA CONSTRUCTION: Unsecured Creditors to Recover 4%-5%
----------------------------------------------------------
Regatta Construction, Inc., and Regatta Property Management, LLC,
will establish a fund of $10,000 for each of their Chapter 11 cases
from which a one-time distribution will be made to general
unsecured creditors, according to the companies' plan to exit
bankruptcy protection.

The restructuring plan is a so-called "pot plan" under which each
of the companies will establish a fund from which a distribution
will be made to holders of general unsecured claims within 30 days
following the effective date of the plan.

Regatta Construction estimates that the dividend paid on unsecured
claims will be approximately 5% of each claim.  Meanwhile, Regatta
Property estimates that the dividend paid on unsecured claims will
be approximately 4%.

The companies estimate that they will need as much as $50,000 to
fund all payments of unsecured claims (including administrative,
priority, and general unsecured claims) on the effective date.

Regatta Construction and Regatta Property will fund the plan from
post-petition earnings generated from their business operations as
well as from a $10,000 cash infusion to be made by Christian Tosi,
the companies' principal.  Of this amount, the companies have
accumulated $25,000 as of Dec. 15, which is being held in escrow by
their legal counsel, according to the disclosure statement filed on
Dec. 15 with the U.S. Bankruptcy Court in Massachusetts.

A copy of the disclosure statement is available for free at
http://bankrupt.com/misc/RegattaConstruction_DS12152016.pdf

                  About Regatta Construction

Regatta Construction, Inc. and Regatta Property Management, LLC
filed for Chapter 11 protection (Bankr. D. Mass. Case Nos. 16-11885
and 16-11886) on May 18, 2016.  The petitions were signed by
Christian Tosi, president of Regatta Construction.  

Judge Frank J. Bailey presides over the case.  The Debtor is
represented by George J. Nader, Esq., at Riley & Dever, P.C.  The
Debtor estimated assets of $1 million to $10 million and
liabilities of less than $50,000.


RESOLUTE ENERGY: Closes Common Stock Offering & Exercise of Option
------------------------------------------------------------------
Resolute Energy Corporation has closed its previously announced
underwritten public offering of 4,370,000 shares of its common
stock, which includes the full exercise by the underwriters of
their option to purchase an additional 570,000 shares of common
stock.  The net proceeds from the offering, including as a result
of the option exercise, after deducting fees and estimated
expenses, were approximately $160.8 million.  The Company intends
to use the net proceeds from the offering to repay the Company's
second lien secured term loan, with any additional proceeds to be
used to repay a portion of the borrowings outstanding under the
Company's revolving credit facility.

The common stock was offered pursuant to a prospectus supplement
and an accompanying prospectus filed as part of an effective shelf
registration statement filed with the Securities and Exchange
Commission on Form S-3.

BMO Capital Markets and Goldman, Sachs & Co. acted as joint
book-running managers for the common stock offering.  The
prospectus supplement and accompanying prospectus relating to the
offering may be obtained by sending a request to: BMO Capital
Markets Corp., Attention: Equity Syndicate Department, 3 Times
Square, 25th Floor, New York, New York 10036, or by telephone:
(800) 414-3627 or by email: bmoprospectus@bmo.com, or Goldman,
Sachs & Co., Attention: Prospectus Department, 200 West Street, New
York, New York 10282, or by telephone: (866) 471-2625, or by
facsimile: (212) 902-9316 or by email:
prospectus-ny@ny.email.gs.com.

               About Resolute Energy Corporation

Resolute Energy Corp. -- http://www.resoluteenergy.com/-- is an
independent oil and gas company focused on the acquisition,
exploration, exploitation and development of oil and gas
properties, with a particular emphasis on liquids focused,
long-lived onshore U.S. opportunities.  Resolute's properties are
located in the Paradox Basin in Utah and the Permian Basin in Texas
and New Mexico.

Resolute reported a net loss of $742 million in 2015, a net loss of
$21.9 million in 2014, and a net loss of $114 million in 2013.

As of Sept. 30, 2016, Resolute Energy had $294.9 million in total
assets, $634.0 million in total liabilities, and a total
stockholders' deficit of $339.1 million.

                          *    *    *

As reported by the TCR on Sept. 26, 2016, Moody's Investors
Service, upgraded Resolute Energy's Corporate Family Rating (CFR)
to 'Caa2' from 'Caa3', the Probability of Default Rating to Caa2-PD
from Caa3-PD and its senior unsecured notes rating to 'Caa3' from
'Ca'.  The Speculative Grade Liquidity rating was affirmed at
SGL-3.  The rating outlook was changed to positive from stable.

"The upgrade to Caa2 reflects Resolute's improved production and
drilling economics, which provide good visibility to continued
growth in a mid $40s oil price environment without increasing debt.
While leverage remains high, we expect moderation in the company's
reserve- and production-based debt metrics from significant
production growth at very competitive drillbit costs," noted John
Thieroff, Moody's VP-senior analyst.


ROCKIES EXPRESS: S&P Affirms BB+ Rating on Sr. Unsecured Debt
-------------------------------------------------------------
S&P Global Ratings said that it has reviewed its recovery and
issue-level ratings on Rockies Express Pipeline LLC that were
labeled as "under criteria observation" (UCO) after publishing its
revised recovery ratings criteria on Dec. 7, 2016.  With S&P's
criteria review complete, it is removing the UCO designation from
these ratings and are affirming the 'BB+' issue-level rating and
revising the recovery rating to '3' from '4', reflecting S&P's
expectation of meaningful (50%-70%; upper half of the range) in the
event of default.

These rating actions stem solely from the application of S&P's
revised recovery criteria and do not reflect any change in its
assessment of the corporate credit rating.

Ratings List

Rockies Express Pipeline LLC
Corporate Credit Rating                BB+/Negative/--

Issue Rating Affirmed, Recovery Rating Revised Due To Revised
Recovery Rating Criteria For Speculative-Grade Corporate Issuers

                                        To        From
Rockies Express Pipeline LLC
Senior Unsecured                       BB+       BB+
  Recovery Rating                       3         4H



RSF 17872: Has Until March 20 to File Plan of Reorganization
------------------------------------------------------------
Judge Louise DeCarl Adler of the U.S. Bankruptcy Court for the
Southern District of California extended the exclusive periods
within which only RSF 17872 Via Fortuna LLC may file and obtain
acceptance of a plan of reorganization to March 20, 2017 and May
19, 2017, respectively.  

The Troubled Company Reporter had earlier reported that the Debtor
sought exclusivity extension in order to give its related entities
sufficient time to market and sell one or more of their assets,
anticipating that the sale would 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.

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).

                        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.


RUSTLE HILL: U.S. Trustee Unable to Appoint Committee
-----------------------------------------------------
The Office of the U.S. Trustee on Dec. 28 disclosed in a court
filing that no official committee of unsecured creditors has been
appointed in the Chapter 11 case of Rustle Hill Winery, LLC.

Rustle Hill is represented by:

     Douglas A. Antonik, Esq.
     Antonik Law Offices
     P.O. Box 594
     Mt. Vernon, IL 62864
     Phone: 618-244-5739
     Email: antoniklaw@charter.net

                    About Rustle Hill Winery

Rustle Hill Winery, LLC sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. Ill. Case No. 16-41058) on November
16, 2016.  The petition was signed by John Patrick Russell, member
and manager.  

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


RWL INVESTMENTS: Court Prohibits Use of First Security Bank Cash
----------------------------------------------------------------
Judge Richard D. Taylor of the U.S. Bankruptcy Court for the
Eastern District of Arkansas prohibited RWL Investments, LLC from
using of cash collateral.

First Security Bank had asked the Court to prohibit the Debtor from
using cash collateral.  

The Debtor was, however, allowed to pay its insurance and utilities
for December out of the cash collateral, which the Parties
estimated to be approximately $1,200.

Judge Taylor held that the rents generated from the properties were
not property of the Estate and that First Security was entitled to
all such monies as of December 1, 2016.  Judge Taylor directed the
Debtor to immediately remit to First Security any remaining amount
from such rents collected after December 1, 2016, along with
documentation and proof of payment of the utilities and insurance.

A full-text copy of the Agreed Order, dated December 22, 2016, is
available at https://is.gd/2mFuAM


                    About RWL Investments

RWL Investments, LLC, filed a Chapter 11 bankruptcy petition
(Bankr. E.D. Ark. Case No. 16-11251) on March 8, 2016.  The
petition was signed by Ryan Lazenby as manager.  The Debtor listed
total assets of $11.11 million and total debt of $8.57 million.

The Debtor is represented by Seth Daniel Hyder, Esq. and Kevin P.
Keech, Esq., at Keech Law Firm, P.A.   The Debtor retained Sullivan
& Co. as accountant; Stacy Wilson at Newmark Grubb Arkansas and
Erica Ibsen of The Charlotte John Company as listing agent for
certain properties.


SANDRIDGE ENERGY: Settles Whistleblower Retaliation Charges
-----------------------------------------------------------
The Securities and Exchange Commission said on Dec. 20, 2016, that
an oil-and-gas company has agreed to settle charges that it used
illegal separation agreements and retaliated against a
whistleblower who expressed concerns internally about how its
reserves were being calculated.

The SEC's order finds that Oklahoma City-based SandRidge Energy
Inc. conducted multiple reviews of its separation agreements after
a new whistleblower protection rule became effective in August
2011, yet continued to regularly use restrictive language that
prohibited outgoing employees from participating in any government
investigation or disclosing information potentially harmful or
embarrassing to the company.

The SEC's order further finds that SandRidge fired an internal
whistleblower who kept raising concerns about the process used by
SandRidge to calculate its publicly reported oil-and-gas reserves.
The employee had been offered a promotion, which was turned down.
Just months later, senior management concluded the employee was
disruptive and could be replaced with someone "who could do the
work without creating all the internal strife." The company had
conducted no substantial investigation of the whistleblower's
concerns and only initiated an internal audit that was never
completed. The employee's separation agreement also contained the
company's prohibitive language that violated the whistleblower
protection rule.

"Ignoring a rule that protects communications between outgoing
employees and the SEC, SandRidge flatly prohibited such contact in
their separation agreements and at the same time retaliated against
an employee who raised concerns about the company to its
management," said Shamoil T. Shipchandler, Director of the SEC's
Fort Worth Regional Office.

Jane Norberg, Chief of the SEC's Office of the Whistleblower,
added, "Whistleblowers who step forward and raise concerns
internally to their companies about potential securities law
violations should be protected from retaliation regardless of
whether they have filed a complaint with the SEC.  This is the
first time a company is being charged for retaliating against an
internal whistleblower, and the second enforcement action this week
against a company for impeding employees from communicating with
the SEC."

Without admitting or denying the SEC's findings, SandRidge agreed
to pay a penalty of $1.4 million, subject to the company's
bankruptcy plan.

The SEC's investigation was conducted by Tamara F. McCreary,
Timothy L. Evans, and David R. King and supervised by Jonathan P.
Scott and David L. Peavler of the Fort Worth office.  

                   About SandRidge Energy, Inc.

SandRidge Energy, Inc. -- http://www.sandridgeenergy.com/-- is an

oil and natural gas exploration and production company
headquartered in Oklahoma City, Oklahoma, with its principal focus
on developing high-return, growth-oriented projects in the U.S.
Mid-Continent and Niobrara Shale.

SandRidge Energy, Inc. and 24 of its subsidiaries each filed a
voluntary petition under Chapter 11 of the Bankruptcy Code (Bankr.
S.D. Tex. Lead Case No. 16-32488) on May 16, 2016.  The petitions
were signed by Julian M. Bott as chief financial officer.

The Debtors have hired Kirkland & Ellis LLP as general bankruptcy
counsel, Zack A. Clement PLLC as local counsel, Houlihan Lokey
Capital, Inc. as financial advisor, Alvarez & Marsal Holdings, LLC
as restructuring advisor and Prime Clerk LLC as claims and
noticing agent.

The cases are assigned to Judge David R Jones.

The Office of the U.S. Trustee has appointed five creditors of
SandRidge Energy, Inc., to serve on the official committee of
unsecured creditors.  The Official Committee is represented by
Charles R. Gibbs, Esq., Daniel H. Golden, Esq., Abid Qureshi,
Esq., and Brad M. Kahn, Esq., at Akin Gump Strauss Hauer & Feld
LLP.

An Ad Hoc Committee of Shareholders is represented by Susan C.
Mathews, Esq., Lori Ann Hood, Esq., and Sunil "Neil" Gupta, Esq.,
at Baker, Donelson, Bearman, Caldwell & Berkowitz.

Counsel to the First Lien Credit Agreement Agent are Andrew V.
Tenzer, Esq., Leslie A. Plaskon, Esq., and Michael Comerford,
Esq., at Paul Hastings LLP.

Counsel to the Ad Hoc Group of Consenting Unsecured Creditors are
Joseph H. Smolinsky, Esq., and Daniel N. Griffiths, Esq., at Weil
Gotshal & Manges LLP.

Counsel to the Ad Hoc Group of Consenting Second Lien Creditors are
Damian S. Schaible, Esq., and Eli V. Vonnegut, Esq., at Davis Polk
& Wardwell, LLP.

                            *     *     *

SandRidge Energy on Oct. 4, 2016, disclosed that it has emerged
from Chapter 11, having satisfied all the necessary provisions of
its Plan of Reorganization.  SandRidge also received approval to
relist on the New York Stock Exchange in conjunction with its
emergence and resumed trading of newly issued common stock on
October 4, 2016, under the ticker symbol "SD".

The Bankruptcy Court on Sept. 9, 2016, entered an order confirming
the Joint Chapter 11 Plan of Reorganization, which will eliminate
$3.7 billion in pre-petition funded indebtedness.


SEAHAWK PORTFOLIO: Hires LaMonica Herbst as Counsel
---------------------------------------------------
Seahawk Portfolio LLC, seeks authority from the U.S. Bankruptcy
Court for the Eastern District of New York to employ LaMonica
Herbst & Maniscalco, LLP as counsel to the Debtor.

Seahawk Portfolio requires LaMonica Herbst to:

   (a) provide legal advice with respect to the Debtor's powers
       and duties as a debtor-in-possession in accordance with
       the provisions of the Bankruptcy Code in the continued
       operation of its business and the management of its
       property;

   (b) prepare, on behalf of the Debtor, all necessary schedules,
       applications, monthly operating reports, if necessary,
       motions, answers, orders, reports, adversary proceedings
       and other legal documents required by the Bankruptcy Code
       and Federal Rules of Bankruptcy Procedure;

   (c) perform all other legal services for the Debtor that may
       be necessary in connection with the Debtor's attempt to
       reorganize its affairs under the Bankruptcy Code; and

   (d) assist the Debtor in the development and implementation of
       a plan of reorganization.

LaMonica Herbst will be paid at these hourly rates:

     Partners                   $595
     Associates                 $415
     Paraprofessionals          $175

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

Jordan Pilevsky, member of LaMonica Herbst & Maniscalco, LLP,
assured the Court that the firm is a "disinterested person" as the
term is defined in Section 101(14) of the Bankruptcy Code and does
not represent any interest adverse to the Debtor and its estates.

LaMonica Herbst can be reached at:

     Jordan Pilevsky, Esq.
     LAMONICA HERBST & MANISCALCO, LLP
     3305 Jerusalem Avenue
     Wantagh, NY 11793
     Tel: (516) 826-6500

Olympia Office LLC, based in Cedarhurst, NY, filed a Chapter 11
petition (Bankr. E.D.N.Y. Case No. 16-74892) on October 20, 2016.
The petition was signed by Sung II Han, vice president.  Judge
Alan
S. Trust presides over the case.

In its petition, Olympia Office estimated $10 million to $50
million in both assets and liabilities.

Olympia Office's affiliates WA Portfolio LLC, Mariners Portfolio
LLC and Seahawk Portfolio LLC sought Chapter 11 protection (Bankr.
E.D.N.Y. Case Nos. 16-75515 to 16-75517) on November 28, 2016.
The
petitions were signed by Scott G. Switzer, chief operating
officer.
Judge Robert E. Grossman presides over the case of WA Portfolio.
The two other cases are assigned to Judge Trust.

At the time of the filing, the three Olympia affiliates estimated
their assets at $10 million to $50 million and debts at $50
million
to $100 million.

Jordan Pilevsky, Esq., at Lamonica Herbst & Maniscalco LLP, serves
as bankruptcy counsel.


SHORT ENTERPRISES: U.S. Trustee Unable to Appoint Committee
-----------------------------------------------------------
The Office of the U.S. Trustee on Dec. 28 disclosed in a court
filing that no official committee of unsecured creditors has been
appointed in the Chapter 11 case of Short Enterprises, Inc.

Short Enterprises, Inc., filed a chapter 11 petition (Bankr. S.D.
Ill. Case No. 16-41020) on Nov. 2, 2016.  The petition was signed
by Gail Short, restructuring officer.  The Debtor is represented by
Robert E. Eggman, Esq., at Carmody Macdonald P.C.  The case is
assigned to Judge Laura K. Grandy.  The Debtor estimated assets and
liabilities at $1 million to $10 million at the time of the filing.


SILVER LINE: Selling Commercial Real Estate to Wind Gap
-------------------------------------------------------
Silver Line, Inc., asks the U.S. Bankruptcy Court for the Eastern
District of Pennsylvania's permission to sell commercial real
estate at an unnumbered parcel on Moorestown Road, Township of
Plainfield, County of Northampton and Commonwealth of Pennsylvania,
free and clear of liens and encumbrances.

Although not currently so used, the land had been used as a
commercial truck depot and warehouse.

The property is valued according to the highest and best offer
obtained in a commercial reasonable manner at $600,000.

The prospective buyer is Wind Gap Building Associates.

The contract is subject to a fee due to a Broker of 6% of the gross
sale price and that Broker is Kelly Berfield of Colliers
International 7535 Windsor Drive, STE 208, Allentown, PA 18195.

The property is encumbered by a mortgage(s) held by Wind Gap
Interstate 33 Land Trust c/o Michael A. Santanasto, Esquire 210
East Broad Street, Bethlehem, PA 18018.  The amount claimed to be
owed on the mortgage, $677,968 is subject to dispute

The property is/or may be further encumbered by income taxes, real
estate taxes and/or utility liens owed to various taxing entities
including:

     * Pen Argyl Area School District
     * Northampton County TCB
     * Commonwealth of PA (Revenue)
     * Internal Revenue Service

The Debtor is seeking the authority to the extent of available
funds realized from the sale proceeds in the following priority:

   a. The reasonable costs of sale including realtor's commissions,
if any, the costs of one half of the applicable transfer taxes,
notary fees, recording fees, the reasonable and customary
adjustments and pro-rated items such as real estate taxes and
municipal and utility charges if any;

   b. The Mortgage of Wind Gap Interstate 33 Land Trust in its
respective priorities (until it is paid in accord with a
determination by this court as to the amount mortgage creditor is
owed).

   c. The remaining funds, if any, will be paid into the Escrow
Account of Debtor's Attorney pending further order of the Court.

The Debtor seeks authority to sell real estate free and clear of
liens, encumbrances and other interests so as to be able to convey
good and marketable title to the buyers identified by the agreement
of sale and for such other and further relief as this
Court will deem just and equitable.

A full-text copy of the Motion is available at:

   http://bankrupt.com/misc/paeb15-16818_63_Sale_M_Silver_Line.pdf

The Buyer can be reached at:

         Wind Gap Building Associates
         c/o Specialty Physician Associates
         3445 High Point Blvd., Suite 400
         Bethlehem, PA 18017.

Silver Line, Inc., a Single Asset Real Estate, filed a Chapter 11
petition (Bank. E.D. Pa. Case No. 15-16818) on Sept. 21, 2015.  The
petition was signed by Richard Viders, president.  The case is
assigned to Judge Richard E. Fehling.  The Debtor disclosed $1.4
million in assets and $430,000 in liabilities.   The Debtor tapped
Michael J. McCrystal, Esq., at McCrystal Law Offices as counsel.


SK VISION: Case Summary & 13 Unsecured Creditors
------------------------------------------------
Debtor: SK Vision LLC
        3608 Angelus Ave
        Glendale, CA 91208

Case No.: 16-26820

Chapter 11 Petition Date: December 27, 2016

Court: United States Bankruptcy Court
       Central District of California (Los Angeles)

Judge: Hon. Robert N. Kwan

Debtor's Counsel: Aurora Talavera, Esq.
                  ALLIED LEGAL GROUP, INC
                  355 S Grand Ave Ste 2450-04
                  Los Angeles, CA 90071
                  Tel: 800-919-3075
                  Fax: 213-596-3737
                  E-mail: admin@alliedlegalgroup.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Greg Kurdoglanyan, president.

A copy of the Debtor's list of 13 unsecured creditors is available
for free at http://bankrupt.com/misc/cacb16-26820.pdf


STRINGER FARMS: Can Use Cash Collateral Through Jan. 14
-------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas
authorized Stringer Farms, Inc. and Charles Blake Stringer to use
cash collateral on an interim basis until
Jan. 14, 2017.

Wells Fargo asserts that the Debtors are indebted to it pursuant
to:

     (a) a Promissory Note executed by Mr. Stringer in the original
principal amount of $2 million;

     (b) a Promissory Note executed by Mr. Stringer, in the
original principal amount of $2.2 million; and

     (c) a Promissory Note executed by Mr. Stringer, in the
original principal amount of $5 million.

Wells Fargo further asserts that it possesses perfected security
interests in and liens on various personal property of the Debtors,
which include accounts and other rights to payment of every kind,
inventory, equipment, documents of title, and farm products.

The Debtors contended they needed to use cash collateral to
continue their operations, pay their employees, and maintain
essential utility services, insurance, and crops in the ground and
cattle.

Wells Fargo is granted a replacement lien on approximately 2.77
acres of the Debtors' real estate and improvements thereon,
superior to any other lien, claim or encumbrance, until such time
that Wells Fargo is repaid by the Debtors for any cash collateral
used by them.

Wells Fargo is also granted a replacement security interest in, and
lien upon the right, title and interest in the prepetition
collateral of Wells Fargo, and any property acquired by the Debtors
after their respective petition dates, of the same nature, kind and
character as Wells Fargo's prepetition collateral.

The Court gave Wells Fargo a first lien and security interest,
subject only to any ad valorem taxes, in and to the Replacement
Lien Real Estate, which will be released on the earlier of when
Wells Fargo will be paid back its secured claim in full by the
Debtors, or when the Debtors obtain DIP financing that is
sufficient to repay Wells Fargo for the diminution of the value of
Wells Fargo's Collateral resulting from the Debtors' use of cash
collateral.

The Debtors have agreed to endeavor to use their best efforts to
obtain DIP Financing from a DIP lender on or before Jan. 15, 2017
and to include in any DIP financing motion an agreement to pay
Wells Fargo back at least the amount of cash collateral consumed by
the Debtors pursuant to the Court's Interim Cash Collateral Order.

Wells Fargo Bank was granted an administrative priority claim up to
the amount of the diminution in value of Wells Fargo's Collateral
that is not replaced by the replacement liens and other adequate
protection granted by the Court.

A final hearing on the Debtors' Motion is scheduled on Jan. 12,
2017 at 9:30 a.m.

A full-text copy of the Agreed Interim Order, dated Dec. 23, 2016,
is available at
http://bankrupt.com/misc/StringerFarms2016_1644821rfn11_21.pdf

Wells Fargo Bank, National Association is represented by:

          Don D. Sunderland, Esq.
          MULLIN HOARD & BROWN, LLP
          P.O. Box 31656
          Amarillo, TX 79120-1656
          E-mail: dsunderl@mhba.com

                - and -

          M. Andrew Stewart, Esq.
          MULLIN HOARD & BROWN, LLP
          P.O. BOX 2585
          Lubbock, TX 79408-2585
          E-mail: astewart@mhba.com
            
                    About Stringer Farms

Stringer Farms, Inc., filed a chapter 11 petition (Bankr. N.D. Tex.
Case No. 16-44821) on Dec. 14, 2016.  The petition was signed by
Charles Blake Stringer, president.  The Debtor is represented by
Jeff P. Prostok, Esq., at Forshey & Prostok, LLP.  The case is
assigned to Judge Russel F. Nelms.  The Debtor estimated assets at
$10 million to $50 million and liabilities at $1 million to $10
million at the time of the filing.

Charles Blake Stringer filed a chapter 11 petition (Bankr. N.D.
Tex. Case No. 16-44871) on Dec. 20, 2016.  The Debtors' cases are
jointly administered.


SUPERIOR ENERGY: S&P Lowers CCR to 'BB-', Outlook Negative
----------------------------------------------------------
S&P Global Ratings Services lowered its corporate credit rating on
Houston-based Superior Energy Services Inc. to 'BB-' from 'BB'. The
outlook is negative.

At the same time, S&P lowered the issue-level rating on Superior's
senior unsecured debt to 'BB-' from 'BB'.  At the same time, S&P is
revising its recovery rating to '3' from '4', indicating its
expectation of a meaningful (50% to 70%; lower half of the range)
recovery in the event of a default.

"The downgrade reflects our expectation that average core ratios
will fall to the highly leveraged category over the next two years,
driven by continued modest, albeit improving, spending levels of
the exploration and production industry, said S&P Global Ratings
credit analyst David Lagasse.

Capital spending in the E&P industry sharply deteriorated in 2015
and 2016 resulting in significant pricing pressures for oilfield
service companies.  While S&P expects industry trends to improve in
2017 and 2018, buoyed by improved crude oil prices, S&P continues
to expect pricing below levels in the past and therefore weaker
financial measures for Superior Energy.  Consequently, S&P has
revised its financial risk profile on Superior to highly leveraged
from aggressive reflecting FFO to debt below 12% on average over
the next two years and debt to EBITDA averaging above 5x.

The negative outlook reflects S&P's view that Superior's credit
measures and profitability could remain below S&P's expectations
for the rating unless the market experiences a sustained recovery.


S&P could lower the rating if it expected Superior's FFO/debt to
average well below 12% for a sustained period.  Additionally S&P
could lower the rating if it assessed business risk as no longer
satisfactory, most likely to occur if profitability measures do not
improve from current levels.  Both events could be driven by a
reversal in the improving market trends led by weakening crude oil
and natural gas prices and resulting reduction in spending by the
E&P sector.

S&P could revise the outlook to stable if it expects Superior to
maintain FFO/debt above 12%, which would most likely occur if the
company were able to improve operating margins in conjunction with
an industry recovery.


TAUREN EXPLORATION: Court Approves Gloria's Ranch's Plan Outline
----------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas
approved the disclosure statement explaining will the Chapter 11
plan of liquidation proposed by Gloria's Ranch, LLC for Tauren
Exploration, Inc., and will consider confirmation of the plan at a
hearing on Jan. 30.

The hearing will be held at 1:30 p.m., at the U.S. Bankruptcy
Court, Courtroom 3, 14th Floor, 1100 Commerce Street, Dallas,
Texas.

The court will also consider at the hearing the final approval of
Gloria's Ranch's disclosure statement, which it conditionally
approved on Dec. 14.

The order set a Jan. 23 deadline for creditors to cast their votes
and file their objections.

The plan filed on Dec. 12 proposes the formation of a trust for the
benefit of creditors holding unsecured claims against Tauren
Exploration.  The purpose of the trust is to liquidate assets of
the company, including the pursuit of claims against its insiders.

The liquidating trust will be self-funded from recoveries plus a
$10,000 carve-out from the disposition of the collateral securing
Gloria's Ranch's secured claim.  The net recoveries will be
distributed by the liquidating trustee to creditors.

The plan classifies claims against and interests in Tauren
Exploration into six classes.  Class 4 unsecured claims and
Gloria's Ranch's Class 3 secured claim are both impaired under the
plan.  Holders of these claims are entitled to vote.

Meanwhile, all equity interests in Tauren Exploration will be
canceled, according to court filings.

                    About Tauren Exploration

Tauren Exploration, Inc. filed a Chapter 11 petition (Bankr. N.D.
Tex. Case No. 16-32188) on June 3, 2016.  The Debtor is represented
by Frank L. Broyles, Esq.


TERESA GIUDICE: Asks State Court to Reinstate Suit vs Lawyer
------------------------------------------------------------
Jeannie O'Sullivan, writing for Bankruptcy Law360, reported that
"Real Housewives of New Jersey" star Teresa Giudice wants a state
judge to reinstate a malpractice complaint against her former
lawyer now that a dispute over whether the claims belonged to her
or her bankruptcy estate has been resolved, according to court
papers filed last week.  The celebrity asked Morris County Superior
Court Judge Robert J. Brennan to vacate the administrative
dismissal of her lawsuit against James A. Kridel Jr. accusing him
of exposing her to jail time.

U.S. Bankruptcy Judge Stacey L. Meisel in New Jersey signed off on
Dec. 9, 2016, on a deal allowing Giudice to pursue a malpractice
action against her former bankruptcy attorney and share any
proceeds with her creditors, according to a report by Bill Wichert,
writing for Bankruptcy Law360.  Judge Meisel said she would issue
an order approving a settlement between Ms. Giudice and a
bankruptcy trustee, praising them for reaching an agreement that
the judge didn't think was possible after the parties had taken
"extreme" positions in the case.

As reported by the Troubled Company Reporter, a prior report by
Law360's Wichert said Judge Meisel tossed James A. Kridel Jr.'s
motion seeking to intervene in the bankruptcy matter and asking
the
judge to reject the proposed settlement between Teresa Giudice and
a bankruptcy trustee.

According to a report by The American Bankruptcy Institute, citing
Vicki Hyman of NJ.com, Ms. Giudice sued Mr. Kridel in 2015 for
legal malpractice, claiming his bad advice and mistakes led to her
conviction for bankruptcy fraud.  After a contentious mediation,
Ms. Giudice's lawyers Anthony Rainone and Carlos Cuevas settled
with John Sywilok, the trustee who represented Ms. Giudice's
creditors, agreeing that her creditors will get 45% of any
winnings, and that Sywilock will join Ms. Giudice's malpractice
case as a plaintiff.

                       About the Giudices

In June 2010, Teresa Giudice, who portrays a role in Real
Housewives of New Jersey, and her husband, Joe, filed for
bankruptcy under Chapter 11 in the U.S. Bankruptcy Court in New
Jersey.  The Giudices owe creditors $10.85 million.

Chapter 7 trustee John Sywilok sued the Giudices.  The suit
claimed that the Debtors concealed key documents about their
finances and business transactions.  Mr. Sywilok also accused the
couple of making false statements under oath about their assets,
income and expenses.


UNIVERSAL DOOR: Unsecureds To Recoup 5% Under Plan
--------------------------------------------------
Universal Door and Window Manufacture Inc.'s second amended
disclosure statement dated Dec. 14, 2016, provides that Class 5
General Unsecured Creditors, consisting of creditors with allowed
unsecured claims of more than $10,000, except those claimants that
elect to be treated under Class 4, will be paid 5% of the allowed
amount of the claim in 60 equal monthly installments of principal
in the aggregate of $1,347.21, without interest, commencing 90 days
after the effective date of the plan.

Amounts expected to be allowed under Class 5 aggregate $1,616,648
and any amounts on guarantees paid on behalf of Debtor's loans
included under Class 6.  Class 5 is impaired.

The Second Amended Plan of Reorganization proposed by the Debtor
provides a substantial payments to all classes of creditors, in a
period of five years.  Under the Second Amended Plan, the Debtor
will continue to operate the income producing real estate and
developing it as additional capital may be obtained.  In contrast a
liquidation would not produce distributions for most of the
creditor classes and would probably not produce enough to cover the
liquidation administrative expenses.  Shareholders will contribute
additional capital and pre-petition shares will be cancelled.  New
shares based on capital contributions will be issued with the same
$1,000 per share par value.

The Second Amended Disclosure Statement is available at:

          http://bankrupt.com/misc/prb15-01120-313.pdf

The Plan was filed by the Debtor's counsel:

     Nelson Robles Diaz, Esq.
     P.O. BOX 192302
     San Juan, Puerto Rico 00919-2302
     Tel: (787) 274-2918
     Fax: (787) 274-2919
     E-mail: nroblesdiaz@gmail.com

                      About Universal Door

Universal Door and Window Manufacture Inc. was originally dedicated
to the manufacturing of security doors and windows in aluminum and
glass for the Puerto Rico housing and commercial markets.  In 2011
manufacturing operations were closed and the conversion to a
commercial income producing property was commenced.  The remaining
assets of the company are its real estate, equipment
and inventory.  The real estate is composed of a 32,000 square foot
industrial building in several lots of land aggregating
aproximately 21,900 square meters, or approximately 5.5 "cuerdas".
The managing shareholder since the inception of the company had
been Angel Carmelo Serrano, until 2010, while Evelio Crespo
Traverzo, his spouse and daughter, were the principal shareholders.
Mr. Crespo was involved in construction projects and installations
in other wholly owned corporations and Serrano had another business
related to solar products.

The Debtor sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. D. P.R. Case No. 15-01120) on Feb. 19, 2015.  The
petition was signed by Evelio Crespo Traverzo, president and
treasurer.  

The case is assigned to Judge Enrique S. Lamoutte Inclan.

At the time of the filing, the Debtor disclosed $1.54 million in
assets and $2.86 million in liabilities.


USA SALES: Wants Plan Filing Period Extended to April 28
--------------------------------------------------------
USA Sales, Inc. dba Statewide Distributors asks the U.S. Bankruptcy
Court for the Central District of California to extend its
exclusive period to file a chapter 11 plan and solicit acceptances
to the plan to April 28, 2017 and July 28, 2017, respectively.

The Debtor currently has until January 31, 2017 to file a chapter
11 plan and until April 30, 2017 to solicit acceptances to the
plan.

The Debtor contends that the extension request is made primarily
and specifically to enable the Debtor to prosecute and resolve its
recent adversary proceeding against the State Board of
Equalization, who holds the largest claim against the estate.

               About USA Sales, Inc.

USA Sales, Inc., d/b/a Statewide Distributors, Inc., filed for
Chapter 11 bankruptcy protection (Bankr. C.D. Cal. Case No.
16-14576) on May 20, 2016, estimating assets and liabilities
between $1 million and $10 million.  The petition was signed by
Claudia Ali, surviving spouse of Kabiruddin Karim Ali and 100
percent beneficiary.  Judge Mark S. Wallace presides over the case.
Daren M Schlecter, Esq., at the Law Office of Daren M. Schletcter,
APC, serves as the Debtor's bankruptcy counsel.


VERTELLUS SPECIALTIES: Unsecured Creditors to Get Up to 3.4%
------------------------------------------------------------
General unsecured creditors of VSI Liquidating Inc. will recover up
to 3.4% of their claims, according to the latest disclosure
statement, which explains the company's Chapter 11 liquidating
plan.

Under the proposed plan, holders of Class 5 general unsecured
claims against VSI, formerly called Vertellus Specialties Inc.,
will get 1.5% to 3.4% of their claims.

The estimated amount of Class 5 general unsecured claims allowed by
the court ranges from $63 million to $68 million.

The plan proposes the creation of a liquidating trust from which
distributions will be made for the benefit of creditors.  

Payments to general unsecured creditors will be made from an
allocation of $1 million provided by the purchaser under the
"wind-down budget" and from additional potential recoveries.

Aside from the liquidating trust, the plan also proposes the
creation of an environmental response trust, which is intended to
own some of VSI's real properties and manage the ongoing
remediation at its sites.  

The environmental response trust will be initially funded with a
minimum of $550,000, according to the latest disclosure statement
filed on Dec. 15 with the U.S. Bankruptcy Court in Delaware.

A copy of the latest disclosure statement is available for free at

http://bankrupt.com/misc/VSILiquidating_DS12152016.pdf

                     About Vertellus Specialties

Vertellus Specialties Inc. was a global specialty chemicals company
focused on the manufacture of ingredients used in pharmaceuticals,
personal care, nutrition, agriculture, and a host of other market
areas affected by trends favoring "green" technologies and
chemistries.

Headquartered in Indianapolis, Indiana, Vertellus Specialties Inc.
and several affiliates filed separate Chapter 11 bankruptcy
petitions (Bankr. D. Del. Case Nos. 16-11289 to 16-11299) on May
31, 2016. Judge Christopher S. Sontchi presides over the case.

Stuart M. Brown, Esq., Kaitlin M. Edelman, Esq., Richard A.
Chesley, Esq., Daniel M. Simon, Esq., and David E. Avraham, Esq.,
at DLA Piper LLP (US) serve as the Debtors' bankruptcy counsel.

Jefferies LLC is the Debtors' investment banker.  Andrew Hinkelman
at FTI Consulting, Inc. is the Debtors' chief restructuring
officer.  Kurtzman Carson Consultants is the Debtors' claims and
noticing agent.

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

The petitions were signed by Anne Frye, vice president, secretary
and general counsel.

The Official Committee of Unsecured Creditors of Vertellus
Specialties Inc., et al., has tapped Hahn & Hessen LLP as lead
counsel; Morris James LLP as co-counsel; and Zolfo Cooper, LLC as
its financial advisor.

                       *     *     *

The Troubled Company Reporter reported that Vertellus Specialties
Inc. completed the sale of substantially all of its U.S. and
international assets to its prior term loan lenders, a group
including Black Diamond Capital Management and Brightwood Capital
Advisors, among others, on Oct. 31, 2016.


WALTER H. BOOTH: Court Allows Cash Collateral Use Until Feb. 28
---------------------------------------------------------------
Judge Bruce A. Harwood of the U.S. Bankruptcy Court for the
District of New Hampshire authorized Walter H. Booth Clause 4 Trust
to use Ocwen Loan Servicing, LLC's cash collateral on an interim
basis through February 28, 2017.

The Debtor was authorized to use and expend the proceeds of the
cash collateral to pay the costs and expenses incurred by the
Debtor in the ordinary course of its business as shown by the cash
collateral Budget.  The approved Budget for the cash collateral
period from January 1, 2017 through February 28, 2017, provides for
total cash payout in the approximate amount of $20,236.

The Debtor was directed to pay Ocwen Loan its monthly mortgage
payments of $6,745.55 each month commencing December 1, 2016.

Ocwen Loan Servicing, LLC was granted a security interest in all of
the Debtor's post-petition assets of the same kinds, nature and
type as the Cash Collateral in which it held valid and enforceable,
perfected security interests prior to the Petition Date.

Judge Harwood acknowledged that an immediate and ongoing need
exists for the Debtor to use cash collateral to be able to continue
the operation of its business, to minimize the disruption of the
Debtor as a going concern, and to reassure the Debtor's creditors
of the Debtor's continued viability.

A further hearing on the Debtor's use of cash collateral is
scheduled on February 22, 2017 at 2:00 p.m.  The deadline for the
filing of objections to the Debtor's use of cash collateral is set
on February 15, 2017.

A full-text copy of the Order, dated December 22, 2016, is
available at http://tinyurl.com/jcnkha2

         About Walter H. Booth Clause 4 Trust

Walter H. Booth Clause 4 Trust filed a chapter 11 petition (Bankr.
D.N.H. Case No. 16-11598) on Nov. 16, 2016.  The petition was
signed by Stephen W. Booth, trustee.  The Debtor is represented by
Eleanor W. Dahar, Esq., at Victor W. Dahar Professional
Association.  The Debtor estimated assets and liabilities at $1
million to $10 million at the time of the filing.

The Debtor has retained Kimberly Hennessey, a certified public
accountant employed with Hennessey & Vallee, PLLC, to prepare its
tax returns and provide other services related to its Chapter 11
case.


WEST 41 PROPERTY: Unsecureds To Recoup 100% Under Plan
------------------------------------------------------
West 41 Property LLC filed with the U.S. Bankruptcy Court for the
Southern District of New York a first amended disclosure statement
referring to the Debtor's plan of reorganization.

Class 5 5 General Unsecured Claims -- estimated at $1,101,557.99 --
are unimpaired under the Plan.  The holders are expected to recover
100%.

The amount paid by Stabilis to fund the Plan Fund, which is
estimated to be between $500,000 and $1,650,0003, will be added to
the Allowed Claim of Stabilis.  As a result, all creditors holding
Allowed Claims except for the claims held by Stabilis will have
been paid in full on the Effective Date or their claims will have
been reserved for in the Disputed Claim Reserve.   The amount of
the Plan Fund may decrease if the Debtor is successful on its
pending claims objections. The exact amount will be calculated by
the Debtor three (3) days prior to the Confirmation Hearing.

Second, the Plan provides for the sale of Property pursuant to the
Purchase Agreement after a post-confirmation marketing period of up
to a maximum of six months, which may be extended by the Plan
Administrator, after consultation with Stabilis, for up to an
additional three months, if an acceptable purchase price for the
Property has not been offered (as determined by the Plan
Administrator in consultation with Stabilis). The Purchase
Agreement provides for Stabilis to be the "stalking horse" bidder
for the Property at an amount of not less than $50,000,000 in
accordance with section 363(k) of the Bankruptcy Code, subject to
higher or better bids achieved in accordance with bids submitted at
or prior to the Bid Deadline after marketing of the Property by
the
Real Estate Broker retained by the Plan Administrator, pursuant to
the Sale and
Bid Procedures approved in connection with the Plan.

If there are multiple offers for the Property, the Plan
Administrator will conduct an auction in accordance with the
Bidding Procedures.  At the conclusion of the auction, a successful
bidder will be selected by the Plan Administrator and the Plan
Administration will seek Bankruptcy Court approval to close the
Sale Transaction with the highest bidder for the Property, with the
second highest bidder serving as the back-up bidder. Upon the
closing of the proposed Sale Transaction, the Plan provides that
the proceeds will be distributed to holders of Allowed Class 2
Secured Claims and Allowed Class 6 Existing Equity Interests in
accordance with the terms of the Plan.

The Debtor says the Plan has been structured so that all creditors
holding Allowed Claims on the Effective Date will not have to wait
for the closing of the sale of the Property to be paid under the
Plan, but will be paid from the Plan Fund immediately after the
Effective Date, unless the Plan provides for payment on a later
date.

The deadline to file and serve any objection or response to the
Plan and for completed ballots to be received by the Ballot
Collector is January 27, 2017.

The date and time for the commencement of the hearing to consider
confirmation of the Plan is February 10, 2017 at 10:00 a.m.

The Amended Disclosure Statement is available at:

           http://bankrupt.com/misc/nysb16-22393-117.pdf

As reported by the Troubled Company Reporter on Nov. 16, 2016, the
Debtor filed a plan of reorganization, which provided that
creditors' claims would be satisfied in two steps.  First, the Plan
Fund will be funded by SF IV Bridge I LP in an amount, in addition
to the Debtor's available cash on the Effective Date.  Second, the
Plan provided for the sale of the real property and improvements
located at 440 West 41st Street, in New York, pursuant to a
Purchase Agreement after a post-confirmation marketing period of up
to a maximum of six months, which may be extended, after
consultation with Stabilis, by the Plan Administrator for up to an
additional three months.  

                      About West 41 Property

Headquartered in New York, New York, West 41 Property LLC owns the
real property and improvements located at 440 West 41st Street, New
York, New York.  The Property is improved by a 13 story building
which currently contains multi-family residential apartments and
several commercial units which are in the process of being
renovated.  The Property has 96 residential units and will have,
when renovations are completed, a presently undetermined number of
commercial units.

West 41 Property filed for Chapter 11 bankruptcy protection
(Bankr.
S.D.N.Y. Case No. 16-22393) on March 25, 2016, estimating its
assets at up to $50,000 and debts at between $10 million and $50
million.  The petition was signed by David Goldwasser, managing
member, GC Realty Advisors LLC.

Judge Robert D. Drain presides over the case.

Arnold Mitchell Greene, Esq., at Robinson Brog Leinwand Greene
Genovese & Gluck, P.C., serves as the Debtor's bankruptcy counsel.

The Debtor also employs Lawrence J. Berger P.C. as Special Tax
Counsel, Bedford Soumas LLP as Special Litigation Counsel with
respect to Landlord-Tenant matters, Richard A. Solomon as Special
Litigation Counsel with respect to City Building, fire Department
and ECB matters, and Fasten Halberstam LLP as Accountants.  J&C
Lamb Management is the Debtor's property manager.


[^] BOOK REVIEW: The First Junk Bond
------------------------------------
Author:     Harlan D. Platt
Publisher:  Beard Books
Softcover:  236 pages
List Price: $34.95
Review by Gail Owens Hoelscher

Order your personal copy today and one for a colleague at
http://www.beardbooks.com/beardbooks/the_first_junk_bond.html

Only one in ten failed businesses is equal to the task of
reorganizing itself and satisfying its prior debts in some
fashion. This engrossing book follows the extraordinary journey
of Texas International, Inc (known by its New York Stock
Exchange stock symbol, TEI), through its corporate growth and
decline, debt exchange offers, and corporate renaissance as
Phoenix Resource Companies, Inc. As Harlan Platt puts it, TEI
"flourished for a brief luminous moment but then crashed to
earth and was consumed." TEI's story features attention-grabbing
characters, petroleum exploration innovations, financial
innovations, and lots of risk taking.

The First Junk Bond was originally published in 1994 and
received solidly favorable reviews. The then-managing director
of High Yield Securities Research and Economics for Merrill
Lynch said that the book "is a richly detailed case study. Platt
integrates corporate history, industry fundamentals, financial
analysis and bankruptcy law on a scale that has rarely, if ever,
been attempted." A retired U.S. Bankruptcy Court judge noted,
"(i)t should appeal as supplementary reading to students in both
business schools and law schools. Even those who practice.in the
areas of business law, accounting and investments can obtain a
greater understanding and perspective of their professional
expertise."

"TEI's saga is noteworthy because of the company's resilience
and ingenuity in coping with the changing environment of the
1980s, its execution of innovative corporate strategies that
were widely imitated and its extraordinary trading history,"
says the author. TEI issued the first junk bond. In 1986 it
achieved the largest percentage gain on the NYSE, and in 1987
suffered the largest percentage loss. It issued one of the first
bonds secured by a physical commodity and then later issued one
of the first PIK (payment in kind) bonds. It was one of the
first vulture investors, to be targeted by vulture investors
later on. Its president was involved in an insider trading
scandal. It innovated strip financing. It engaged in several
workouts to sell off operations and raise cash to reduce debt.
It completed three exchange offers that converted debt in to
equity.

In 1977, TEI, primarily an oil production outfit, had had a
reprieve from bankruptcy through Michael Milken's first ever
junk bond. The fresh capital had allowed TEI to acquire a
controlling interest of Phoenix Resources Company, a part of
King Resources Company. TEI purchased creditors' claims against
King that were subsequently converted into stock under the terms
of King's reorganization plan. Only two years later, cash
deficiencies forced Phoenix to sell off its nonenergy
businesses. Vulture investors tried to buy up outstanding TEI
stock. TEI sold off its own nonenergy businesses, and focused on
oil and gas exploration. An enormous oil discovery in Egypt made
the future look grand. The value of TEI stock soared. Somehow,
however, less than two years later, TEI was in bankruptcy. What
a ride!

All told, the book has 63 tables and 32 figures on all aspects
of TEI's rise, fall, and renaissance. Businesspeople will find
especially absorbing the details of how the company's bankruptcy
filing affected various stakeholders, the bankruptcy negotiation
process, and the alternative post-bankruptcy financial
structures that were considered. Those interested in the oil and
gas industry will find the book a primer on the subject, with an
appendix devoted to exploration and drilling, and another on oil
and gas accounting.

Harlan Platt is professor of Finance at Northeastern University.
He is president of 911RISK, Inc., which specializes in
developing analytical models to predict corporate distress.


                            *********

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.

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