TCR_Public/170126.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Thursday, January 26, 2017, Vol. 21, No. 25

                            Headlines

1201 ERNSTON: Hires Trenk DiPasquale as Attorney
2200 PITKIN: Taps E. Waters & Associates as Legal Counsel
7901 7TH AVENUE: Secured Creditor's Disclosure Statement Approved
ADM VENDING: Court Denies Approval of Plan Outline
ALGODON WINES: Sells 43.8 Shares of Mercari Communications

ALL PHASE STEEL: Hires Goldman Gruder as Special Counsel
ALPHA METAL MANUFACTURING: Seeks to Hire AADR as Insolvency Counsel
AMC ENTERTAINMENT: Moody's Puts B1 CFR on Review for Downgrade
AMC ENTERTAINMENT: S&P Puts 'B+' CCR on CreditWatch Negative
ARABELLA EXPLORATION: Seeks to Expedite CRO's Employment

ATLAS DISPOSAL: Taps Stuart M. Nachbar as New Legal Counsel
AVAYA INC: Seeks $725-Million DIP Facility from Citibank
AZURE MIDSTREAM: AME Owns Less Than 5% of Common Units
AZURE MIDSTREAM: Executives to Receive $1.4M Retention Bonuses
BAERG REAL PROPERTY: Unsecureds to be Fully Paid in 36 Mos. at 2.5%

BARTON PROPERTIES: Hires Alter & Brescia as Bankruptcy Counsel
BENNU TITAN: Chapter 11 Case Sent to Texas
BIONITROGEN HOLDINGS: Court Moves Plan Filing Period to Jan. 30
BLACKMAN COMMUNITY WATER: Has Until March 31 to File Plan
BLUE LEOPARD: Ch. Trustee Hires Humphrey Law as Counsel

BLUE STAR GROUP: Taps Mulhern Patterson as Special Counsel
BONANZA CREEK: Hires Alvarez & Marsal as Financial Advisors
BONANZA CREEK: Hires Davis Polk as Bankruptcy Counsel
BONANZA CREEK: Hires Perella as Restructuring Financial Advisor
BONANZA CREEK: Hires Prime Clerk as Administrative Agent

BONANZA CREEK: Hires Richard Layton as Co-counsel
BUFFETS LLC: Has Until March 10 to Solicit Plan Acceptances
BURCON NUTRASCIENCE: Large Scale Reports 16.8% Equity Stake
CAESARS ENTERTAINMENT: S&P Puts 'D' CCR on CreditWatch Positive
CASABLANCA INT'L: Moody's Assigns B3 Corporate Family Rating

CATHAY GENERAL: Fitch Affirms BB+ IDR; Outlook Still Positive
CHANGE HEALTHCARE: S&P Assigns 'B+' CCR; Outlook Stable
CHAPARRAL ENERGY: Disclosure Statement Okayed
CHIEF POWER: Moody's Lowers Rating on Sr. Secured Loan to B2
CIENA CORP: Moody's Hikes CFR to Ba3; Outlook Positive

CLAYTON WILLIAMS: Noble Energy Files Schedule 13D with SEC
COMPCARE MEDICAL: Seeks Cash Access After Plan Rejected
CORPORATE RISK: S&P Raises CCR to 'B-' on Planned Debt Reduction
COSI INC: Needs Until February 9 to File Chapter 11 Plan
CROSSMARK HOLDINGS: S&P Lowers CCR to 'CCC+' on Capital Structure

CRYSTAL ENTERPRISES: Has Until Feb. 21 to File Plan & Disclosures
CRYSTAL SPOON: Priority Unsec. Claims to be Fully Paid by Sept.2019
D & N ELECTRIC: Taps Henry F. Sewell as Legal Counsel
D & N ELECTRIC: Taps Herbert C. Broadfoot as Legal Counsel
DAKOTA PLAINS: U.S. Trustee Unable to Appoint Committee

DEER MEADOWS: Intends to File Plan of Reorganization by April 17
DYNEGY INC: Bankruptcy Court Confirms Reorganization Plan
EAST BAY DRY: Case Summary & 14 Unsecured Creditors
ECOARK HOLDINGS: Appoints Jay Oliphant PFO and PAO
ECOARK HOLDINGS: Appoints Two Board Members

ECOARK HOLDINGS: Changes Fiscal Year End to March 31
ECOARK HOLDINGS: Chief Financial Officer Resigns
ECOARK HOLDINGS: Names Jay Puchir Treasurer and Secretary
ECRA GROUP: Unsecureds to Recover 3% in Five Years
EMMAUS LIFE: Generex to Buy 51% Company Stake for $225 Million

ENUMERAL BIOMEDICAL: Thomas Satterfield Reports 5% Equity Stake
ESCALERA RESOURCES: Taps Williams Porter as Special Counsel
ESTEBAN BEAUTY: Disclosures Conditionally OK'd; Hearing on Feb. 17
ESTEBAN BEAUTY: Needs Additional 90 Days to Confirm Plan
ESTEBAN DISTRIBUTOR: Disclosures Conditionally Okayed

EXCO RESOURCES: Receives Noncompliance Notice from NYSE
FAMILY CHIROPRACTIC: Feb. 23 Plan Confirmation Hearing
FARMACIA SAN JUSTO: Unsecureds to Recover 30% Under Plan
FERRELLGAS PARTNERS: Moody's Rates New $150MM Sr. Notes 'Caa1'
FIELDPOINT PETROLEUM: Amends Stock Purchase Ageement with HFT

FIELDPOINT PETROLEUM: Sells $398,054 Common Shares
FINJAN HOLDINGS: Sues Avast for 'Breach of Contract'
FORBES ENERGY: Unsecureds to Recover 100% Under Plan
FORMOSA PLANTATION: Taps Breazeale Sachse as Special Counsel
FORMOSA PLANTATION: Wants Insurance Premium Financing From GTPF

FUNCTION(X) INC: Borrows Additional $400,000 from Sillerman
FUNCTION(X) INC: Plans to Offer $10 Million Common Shares
GENERAL MOTRIZ: Plan Confirmation Hearing on Feb. 22
GIBRALTAR INDUSTRIES: S&P Raises CCR to 'BB'; Outlook Stable
GOODMAN NETWORKS: S&P Raises CCR to 'CC' Then Withdraws Rating

GREAT BASIN: Amends 2016 Notes to Alter Leak-Out Provisions
GREAT BASIN: Corrects Current Report Over Computational Error
HARLAND CLARKE: Moody's Rates New $370MM Term Loan B-6
HARLAND CLARKE: S&P Assigns 'BB-' Rating on $370MM Sr. Sec. Loan
HIGHLANDS OF DYERSBURG: U.S. Trustee Unable to Appoint Committee

HIGHLANDS OF MEMPHIS: U.S. Trustee Unable to Appoint Committee
HOMER CITY: U.S. Trustee Unable to Appoint Committee
HORIZON GLOBAL: Possible Equity Raise No Impact on Moody's B2 CFR
HUNTINGTON INGALLS: Moody's Alters Outlook to Pos & Affirms Ba1 CFR
IE TEST: Seeks to Hire Bederson as Valuation Expert

INTERPACE DIAGNOSTICS: Offering $4 Million Worth of Common Stock
IOWA HEALTHCARE: Committee Taps Pepper Hamilton as Legal Counsel
IOWA HEALTHCARE: Taps Wang Kobayashi as Employee Benefits Counsel
J&C OILFIELD: Secured Creditors to be Paid Monthly with Interest
JACOBS ENTERTAINMENT: Moody's Rates New $340MM 2nd Lien Notes 'B2'

JACOBS ENTERTAINMENT: S&P Affirms 'B' CCR on Proposed Refinancing
KEMET CORP: Rama Marda Reports 7.2% Equity Stake as of Dec. 31
KEURIG GREEN: Moody's Raises Corporate Family Rating to Ba2
KSM INTERNATIONAL: Seeks to Hire Berg Hill as Special Counsel
KUEHG CORP: S&P Affirms 'B' Rating on 1st Lien Debt Facilities

LA PALOMA GENERATING: U.S. Trustee Unable to Appoint Committee
LIMITED STORES: U.S. Trustee Forms Five-Member Committee
LIONBRIDGE TECHNOLOGIES: Moody's Assigns B2 CFR; Outlook Stable
LSB INDUSTRIES: Amends Revolver Loan Agreement with Wells Fargo
LUKE'S LOCKER: Voluntary Chapter 11 Case Summary

LUTER ENTERPRISES: Hearing on Disclosures Set for March 2
MEMORIAL PRODUCTION: Receives Delisting Notice from NASDAQ
MEMORIAL PRODUCTION: Taps Rust Omni as Claims Noticing Agent
MIDDLE GEORGIA CENTER: Hires Boyer Law as Attorneys
MISSION NEWENERGY: Had A$549,000 in Cash at Dec. 31

MONAKER GROUP: Incurs $2.24 Million Net Loss in Third Quarter
MULTI PACKAGING SOLUTIONS: Moody's Reviews B1 CFR for Upgrade
NET ELEMENT: Directs SOUSA Holdings to Buy 240,964 shares
NEW MILLENNIUM: S&P Lowers Rating on 2015A/B Bonds to 'CCC+'
NORTEL NETWORKS: U.S. Trustee Forms Three-Member Committee

NORTEL NETWORKS: Wins Confirmation of Liquidation Plan
NORTHERN OIL: Elliott Associates Holds 6.9% Stake as of Jan. 10
NORTHSTAR OFFSHORE: Committee Taps DLA Piper as Counsel
NORTHSTAR OFFSHORE: Committee Taps FTI as Financial Advisor
OPTIMA SPECIALTY: Obtains Court OK to Access $40MM Credit Facility

ORCAL GEOTHERMAL: Fitch Affirms BB Rating on $16MM Sr. Notes
OUTBOUND GROUP: Seeks to Hire MRPR Group as Accountant
PEABODY ENERGY: Court Denies Bid for Appointment of Equity Panel
PEABODY ENERGY: UST Balks at Bid to Pay $240M Transaction Fees
PERPETUAL ENERGY: Moody's Assigns Caa3 to Unsecured Notes Due 2022

PERPETUAL ENERGY: S&P Lowers CCR to 'SD' on Distressed Exchange
PHOTOMEDEX INC: Stockholders Elect 5 Directors
PIONEER HEALTH: Rennova Closes Acquisition of Oneida Hospital
PORTOFINO TOWERS: Disclosure Statement Hearing Set for March 8
PT BUMI RESOURCES: Files for Chapter 15 Bankruptcy Protection

QUANTUMSPHERE INC: Francis Poli Quits as Director
QUANTUMSPHERE INC: Gregory Hrncir Quits as Chief Strategy Officer
REGIONAL HEALTHCARE: U.S. Trustee Unable to Appoint Committee
RENNOVA HEALTH: Closes Acquisition of Scott County Hospital
RENT-A-CENTER INC: Moody's Puts Ba3 CFR on Review for Downgrade

RESCUE ONE: Names Michael Jay Berger as Counsel
REX ENERGY: Announces Selected Preliminary Financial Results
RIDGE MANOR: Must File Plan & Disclosures by Feb. 22
ROCK HILL AFRICAN: Hires Bell Davis as Attorneys
ROYAL COACHMAN: Objections to Disclosure Statement Due Feb. 18

S DIAMOND STEEL: Taps Bluff & Associates as Special Counsel
SCOUT MEDIA: $4.35 -Mil. DIP Loan Has Final Approval
SIGEL'S BEVERAGES: Asks Court to Hold Plan Hearing on April 10
SILGAN HOLDINGS: Moody's Puts Ba1 CFR Under Review for Downgrade
SILGAN HOLDINGS: S&P Puts 'BB+' CCR on CreditWatch Negative

SINGLETON CREEK: Taps Brown Realty as Real Estate Broker
SMS SYSTEMS: S&P Affirms 'B' CCR on Merger with Curvature LLC
SOUTHWESTERN STEEL: Plan Confirmation Hearing Set for March 23
SPENCER TRANSPORTATION: Taps Benton & Centeno as Attorneys
SPENDSMART NETWORKS: Chief Strategy Officer to Resign

SPENDSMART NETWORKS: Issues $100,000 Convertible Note to Director
SUNEDISON INC: Allowed to File Chapter 11 Plan Until February 27
SUNEDISON INC: No Value Left for Shareholders, Fin'l Advisor Says
TAMPA HYDE PARK: Feb. 23 Plan Confirmation Hearing
TARA RETAIL: Voluntary Chapter 11 Case Summary

TARTAN CONTROLS: Seeks U.S. Recognition of Canadian Proceeding
TOPS HOLDING: Moody's Lowers Corporate Family Rating to Caa1
TRIANGLE USA: Gibson Dunn, Young Conaway Represent Franklin, Canyon
TRINITY TEMPLE: Disclosures Okayed, Plan Hearing on Feb. 21
TUSCANY PARTNERS: Seeks to Hire Ellsworth & Stout as Accountant

UNITED CONTINENTAL: Moody's Hikes CFR to Ba2; Stable Outlook
VICTORY CAPITAL: Moody's Affirms B2 CFR, Outlook Positive
VIRGIN ISLANDS PFA: Moody's Lowers Sr. Lien Bonds Rating to Caa1
VKI VENTURES: Seeks May 1 Extension of Plan Filing Deadline
[*] Bankruptcy Filings Fall 5.9%, Reach Lowest Level Since 2006

[*] Carl Marks Advisors Promotes Three Professionals
[^] Recent Small-Dollar & Individual Chapter 11 Filings

                            *********

1201 ERNSTON: Hires Trenk DiPasquale as Attorney
------------------------------------------------
1201 Ernston Road Realty Corp., seeks authority from the U.S.
Bankruptcy Court for the District of New Jersey to employ Trenk
DiPasquale Della Fera & Sodono, P.C. as attorney to the Debtor.

1201 Ernston requires Trenk DiPasquale to:

   a) assist in the preparation of schedules of assets and
      liabilities and statement of financial affairs;

   b) advise the Debtor with respect to its powers and duties as
      debtor-in-possession in the management of its property;

   c) negotiate with creditors of the debtor-in-possession and
      taking the necessary legal steps to confirm and consummate
      a plan of reorganization;

   d) prepare on behalf of Debtor all necessary applications,
      answers, proposed orders, reports, and papers to be filed
      in the case

   e) appear before the Bankruptcy Court to represent and protect
      the interests of the debtor-in-possession and its estate;
      and

   f) perform all other legal services for the debtor-in-
      possession that may be necessary and proper for its
      effective reorganization as well as all professional
      services customarily required by the applicant.

Trenk DiPasquale will be paid at these hourly rates:

     Partners                            $375-$615
     Associates                          $195-$275
     Law Clerks                          $195
     Paralegals and Support Staff        $145-$215

Trenk DiPasquale will paid a retainer in the amount of $6,766.70,
inclusive of the filing fee of $1,717.

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

Anthony Sodono III, member of Trenk DiPasquale Della Fera & Sodono,
P.C., 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.

Trenk DiPasquale can be reached at:

     Anthony Sodono III, Esq.
     TRENK DIPASQUALE DELLA FERA & SODONO, P.C.
     347 Mt. Pleasant Avenue, Suite 300
     West Orange, NJ 07052
     Tel: (973) 243-8600

                       About 1201 Ernston Road Realty Corp.

1201 Ernston Road Realty Corp., filed a Chapter 11 bankruptcy
petition (Bankr. D.N.J. Case No. 17-10549) on January 10, 2017,
disclosing under $1 million in both assets and liabilities. The
Debtor is represented by Anthony Sodono III, at Trenk DiPasquale
Della Fera & Sodono, P.C.


2200 PITKIN: Taps E. Waters & Associates as Legal Counsel
---------------------------------------------------------
2200 Pitkin Realty LLC seeks approval from the U.S. Bankruptcy
Court for the Eastern District of New York to hire legal counsel in
connection with its Chapter 11 case.

The Debtor proposes to hire E. Waters & Associates, P.C. to give
legal advice regarding the administration of its case, prepare a
bankruptcy plan, and provide other legal services.

The hourly rates charged by the firm are:

     Edward Waters     $400
     Rashmi Attri      $300
     Paralegals        $175

Rashmi Attri, Esq., disclosed in a court filing that the firm is a
"disinterested person" as defined in section 101(14) of the
Bankruptcy Code.

The firm can be reached through:

     Rashmi Attri, Esq.
     E. Waters & Associates, P.C.
     140 Grand Street, Suite P-902
     White Plains, NY 10601
     Tel: 914-686-4300
     Fax: 914-517-2712
     Email: rattri@ewaterslaw.com
     Email: info@ewaterslaw.com

                    About 2200 Pitkin Realty

2200 Pitkin Realty LLC sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. E.D.N.Y. Case No. 17-40082) on January 9,
2017.  The petition was signed by Andres Lopez, owner.  

The case is assigned to Judge Nancy Hershey Lord.

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


7901 7TH AVENUE: Secured Creditor's Disclosure Statement Approved
-----------------------------------------------------------------
The Hon. Elizabeth S. Stong of the U.S. Bankruptcy Court for the
Eastern District of New York, has approved the disclosure statement
explaining the plan of reorganization filed by secured creditor
Lenders Capital LLC for 7901 7th Avenue LLC on Nov. 15, 2016.

A hearing to consider the confirmation of the Secured Creditor's
Plan will be held on Feb. 21, 2017, at 10:00 a.m. prevailing
Eastern Time.

Persons and entities entitled to vote on the Proposed Plan will
deliver their Ballots by mail, hand delivery, or overnight courier
so as to be received by no later than 5:00 p.m. prevailing Eastern
Time on Feb. 14, 2017.

The Secured Creditor will advertise the sale of the Debtor's real
property, located at 7901 7th Avenue, Brooklyn, New York, on (1)
The Jewish Press and (2) The Daily News on or before Jan. 31, 2017,
prior to the Confirmation Hearing.

The sale of Debtor's property will be held on March 7, 2017, at
10:30 a.m. in case Secured Creditor's Proposed Plan is confirmed.

If the sale occurs on March 7, 2017, the hearing on approving the
sale will be held on March 9, 2017, at 10:00 a.m.

Any objection to confirmation of the Proposed Plan must be filed
with the Clerk of the Court, together with an affidavit of service,
so as to be received by no later than 4:00 p.m. prevailing Eastern
Time on Feb. 14, 2017.

7901 7th Avenue LLC filed a Chapter 11 petition (Bankr. E.D.N.Y.
Case No. 16-42775) on June 23, 2016, and is represented by Wayne M
Greenwald, Esq.


ADM VENDING: Court Denies Approval of Plan Outline
--------------------------------------------------
The Hon. Bruce A. Harwood of the U.S. Bankruptcy Court for the
District of New Hampshire has denied approval of the disclosure
statement filed by ADM Vending, Inc., on Nov. 29, 2016, referring
to the Debtor's plan of reorganization dated Nov. 29, 2016.

As reported by the Troubled Company Reporter on Dec. 19, 2016, the
Debtor filed with the Court its proposed plan to exit Chapter 11
protection.  Under that restructuring plan, ADM Vending estimates
the total claims of Class 6 general unsecured creditors at
$1,126,874.03.  The dividend projected to be paid on account of
allowed Class 6 claims is 0%.  No dividends will be paid to NBT
Bank's Class 1 secured claims, which will foreclose its liens on
ADM Vending's personal property in exchange for the carve-out.

The TCR reported on Jan. 19, 2017, that the U.S. Trustee William K.
Harrington filed an objection to the Disclosure Statement,
complaining that, among other things, it is not at all clear
whether there are any ongoing operations. There are few tangible
assets to liquidate.  After Feb. 1, 2017, NBT Bank has relief from
the automatic stay to liquidate them.  The Debtor's Plan appears to
be a liquidating Plan but it is identified as a Plan of
Reorganization.  Daniel Mendenhall, the Debtor's president, states
he will have a salary but the amount of the salary is not defined
and there are minimal funds to pay any salary.  The Plan says the
Debtor will not have the authority or power to act or engage in any
transaction "other than to wind up its affairs and dissolve itself
in accordance with applicable state and federal law.

                    About ADM Vending Inc.

ADM Vending, Inc., filed a Chapter 11 petition (Bankr. D. N.H. Case
No. 16-10477) on April 1, 2016.  The petition was signed by Daniel
Mendenhall, president.  The Debtor is represented by William S.
Gannon, Esq., at William S. Gannon PLLC.  The case is assigned to
Judge Bruce A. Harwood.  The Debtor disclosed assets of $1.82
million and debts of $599,764.


ALGODON WINES: Sells 43.8 Shares of Mercari Communications
----------------------------------------------------------
Algodon Wines & Luxury Development Group, Inc., filed its Current
Report on Form 8-K with the Securities and Exchange Commission on
Dec. 30, 2016, announcing the its entrance into the Stock Purchase
Agreement with China Concentric Capital Group, Inc. on Dec. 20,
2016, in which China Concentric would purchase all 43,822,001
shares of common stock of Mercari Communications Group, Ltd., a
Colorado corporation held by the Company and any additional shares
of Mercari currently held by the Company for $260,000 (a net after
fees and expenses of less than $200,000).

On Jan. 20, 2017, the transaction was completed and the Company
assigned to China Concentric all its right, title and interest to
the Shares and to amounts payable to the Company for non-interest
bearing advances to Mercari, which advances, as of Jan. 20, 2017,
were in the aggregate amount of $150,087.

In connection with the Transaction, J.M. Walker & Associates
disbursed a total of $199,250 to the Company, a total of $60,000 in
business consulting fees to three consultants, and $750 to the
Escrow Agent for services.

                     About Algodon Wines

New York-based Algodon Wines & Luxury Development Group, Inc.,
operates Algodon Mansion, a Buenos Aires-based luxury boutique
hotel property.  This lifestyle related real estate development
company has also redeveloped, expanded and repositioned a winery
and golf resort property called Algodon Wine Estates for
subdivision of a portion of this property for residential
development.

The Company reported a net loss of $8.27 million in 2015 following
a net loss of $9.06 million in 2014.

As of Sept. 30, 2016, Algodon had $7.69 million in total assets,
$4.36 million in total liabilities and $3.33 million in total
stockholders' equity.

Marcum LLP, in New York, NY, issued a "going concern" qualification
on the consolidated financial statements for the year ended Dec.
31, 2015, citing that the Company has incurred significant losses
and needs to raise additional funds to meet its obligations and
sustain its operations.  These conditions raise substantial doubt
about the Company's ability to continue as a going concern.


ALL PHASE STEEL: Hires Goldman Gruder as Special Counsel
--------------------------------------------------------
All Phase Steel Works, LLC, seeks authority from the U.S.
Bankruptcy Court for the District of Connecticut to employ Goldman
Gruder & Woods, LLC as special counsel to the Debtor.

All Phase Steel requires Goldman Gruder to enforce the Debtor's
mechanic's lien filed on a property owned by Nine West Broad
Property, LLC.

Goldman Gruder will be paid a flat fee of %500, plus 2% of the
amount recovered on the lien.

Goldman Gruder will be paid an hourly rate of $400 for foreclosure
proceedings.

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

Bruce L. Elstein, member of Goldman Gruder & Woods, LLC, assured
the Court that the firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code and does not
represent any interest adverse to the Debtor and its estate.

Goldman Gruder can be reached at:

     Bruce L. Elstein, Esq.
     GOLDMAN GRUDER & WOODS, LLC
     105 Technology Drive
     Trumbull, CT 06611
     Tel: (203) 899-8900

               About All Phase Steel Works, LLC

All Phase Steel Works, LLC, filed a chapter 11 petition (Bankr. D.
Conn. Case No. 16-50257) on Feb. 23, 2016. The petition was signed
by Paul J. Pinto, member/manager. The Debtor is represented by
James M. Nugent, Esq., at Harlow, Adams & Friedman, P.C. The case
is assigned to Judge Julie A. Manning. The Debtor disclosed total
assets at $2.65 million and total liabilities at $4.08 million at
the time of the filing.



ALPHA METAL MANUFACTURING: Seeks to Hire AADR as Insolvency Counsel
-------------------------------------------------------------------
Alpha Metal Manufacturing, Inc seeks permission from the U.S.
Bankruptcy Court for the Western District of Arkansas, Fort Smith
Division, to employ Don Brady of the AADR law firm as its
insolvency counsel.

The professional services to be rendered by AADR are:

     (a) Advising the Debtor of its rights, powers and duties as
debtor in possession, including those with respect to the continued
operation;

     (b) Advising the Debtor concerning and assisting in the
negotiation and documentation of financing agreements, cash
collateral orders and related transactions;

     (c) Investigating into the nature and validity of liens
asserted against the property of the Debtor and advising the Debtor
concerning the enforceability of said liens;

     (d) Investigating into, advising the Debtor concerning and
taking such actions as may be necessary to collect and, in
accordance with applicable law, recover property for the benefit of
the Debtor's estate;
    
     (e) Preparing on behalf of the Debtor such applications,
motions, pleadings, orders, notices, schedules and other documents
as may be necessary and appropriate, and reviewing financial and
other reports; management of its business and property;

     (f) Advising the Debtor concerning and preparing responses to
applications, motions, pleadings, notices and other documents;

     (g) Counseling the Debtor in connection with the formulation,
negotiation and promulgation of a plan or plans of reorganization
and related documents; and

     (h) Performing such other legal services for and on behalf of
the Debtor as may be necessary or appropriate in the administration
of the case.

The hourly rates currently charged by AADR are:

     Partners   - $ 250.00
     Associates - $ 150.00
     Paralegals - $ 45-55

AADR received a general retainer of $5,000.00 for this chapter 11
case and will need to submit an application every 120 days in order
to be paid.

Donald A. Brady attests that he and his firm are disinterested
parties as required by 11 U.S.C. Section 327(a) and as defined by
11 U.S.C. Section 101(14) and they do not hold or represent an
interest adverse to Alpha Metal Manufacturing, Inc., its creditors
or with any other party in interest herein, its attorneys or
accountants, the United States trustee or anyone in the United
States Trustee's Office in connection with this case, except that
from time to time Mr. Brady or his firm may have represented
certain of such parties in interest or interests adverse to such
parties in interest in unrelated matters.

The Firm can be reached through:

     Donald A. Brady  
     AADR
     805 S. Greenwood Ave.
     Fort Smith, AR 72901
     Tel : 479-784-9221

                       About Alpha Metal Manufacturing

Alpha Metal Manufacturing, Inc is an Arkansas Corporation with its
principal assets located in Sebastian County, Arkansas.

Alpha Metal Manufacturing filed a voluntary petition under chapter
11 of the Bankruptcy Code (Bankr. W.D. Ark Case No. 17-bk-70125) on
January 20, 2017.

The Debtor continues in possession of its property as debtor in
possession, pursuant to the provisions of sections 1107 and 1108 of
the Bankruptcy Code.


AMC ENTERTAINMENT: Moody's Puts B1 CFR on Review for Downgrade
--------------------------------------------------------------
Moody's Investors Service has placed the corporate family ratings
for AMC Entertainment Inc. (AMC) under review for downgrade,
including the B1-PD probability of default rating. The Ba1 senior
secured rating and B2 senior subordinate rating at AMC
Entertainment Holdings, Inc. (AMCEH) were also placed on review for
downgrade. This action follows the announcement that AMC will
purchase Nordic Cinema Group AB (NCG) for approximately $929
million. The review for downgrade will focus on the permanent
financing for the transaction, the historical financial results of
the target company translated into US dollars and US GAAP, as well
as management's financial policies and capital allocation decisions
including its debt-financed M&A growth strategy for the
consolidated company going forward.

A summary of action follows:

On Review for Downgrade:

Issuer: AMC Entertainment Inc.

-- Corporate Family Rating, Placed on Review for Downgrade,
currently B1

-- Probability of Default Rating, Placed on Review for Downgrade,
currently B1-PD

-- Senior Subordinated Regular Bond/Debenture, Placed on Review
for Downgrade, currently B2 (LGD5) (Assumed by AMC Entertainment
Holdings, Inc.)

-- Senior Secured Bank Credit Facilities, Placed on Review for
Downgrade, currently Ba1 (LGD2) (Assumed by AMC Entertainment
Holdings, Inc.)

Issuer: AMC Entertainment Holdings, Inc.

-- Senior Subordinated Regular Bond/Debenture, Placed on Review
for Downgrade, currently B2 (LGD5)

-- Senior Secured Bank Credit Facility, Placed on Review for
Downgrade, currently Ba1 (LGD2)

Unchanged:

-- Speculative Grade Liquidity Rating, Unchanged at SGL-2

Outlook Actions:

Issuer: AMC Entertainment Inc.

-- Outlook, Changed To Rating Under Review From Negative

Issuer: AMC Entertainment Holdings, Inc.

-- Outlook, Changed To Rating Under Review From Negative

RATINGS RATIONALE

AMC's B1 Corporate Family Rating (CFR) incorporates the company's
dividend and CAPEX burdened free cash flow and the constraints
imposed by a mature US box office experiencing a secular decline in
attendance. Additionally, the company is dependent on a limited
number of movie studios, seasonality and unpredictable box office
results, and emerging competitive threats from new entrants
aggressively searching for ways to deliver movies through new
distribution systems. Despite these challenges, the company is
currently one of the four largest operators in the US. In addition
to size and scale, the company benefits from barriers to entry into
the first-run window for theatrical distribution, a strong value
proposition, pricing power, high margins, and good liquidity.

AMC, 78% owned by Dalian Wanda Group Co., Ltd. (Wanda), and
headquartered in Leawood, Kansas, operates over 900 theaters with
10,000 screens across the United States and Europe with annual
revenue over $5 billion (pro forma including the recent
acquisitions of Carmike and Odeon).


AMC ENTERTAINMENT: S&P Puts 'B+' CCR on CreditWatch Negative
------------------------------------------------------------
S&P Global Ratings said that it placed its ratings, including the
'B+' corporate credit rating, on Leawood, Kan.-based movie theater
exhibitor AMC Entertainment Holdings Inc. on CreditWatch with
negative implications.

At the same time, S&P placed its ratings on AMC's subsidiary
Georgia-based Carmike Cinemas Inc. on CreditWatch negative.

"The CreditWatch placement follows AMC's announcement that it has
entered into a definitive agreement to acquire Stockholm-based
Nordic Cinema Group AB in a transaction valued at $929 million,"
said S&P Global Ratings' credit analyst Scott Zari.  The
acquisition will increase AMC's European presence by adding 68
theaters, 463 screens, and an additional minority investment in 50
additional theaters.  S&P don't expect any regulatory interference
because Nordic Cinema's theaters are located in Nordic and Baltic
countries, where AMC doesn't currently have a presence.  The
acquisition will increase the size, scale, and diversification of
AMC's exhibition assets.  This should provide some modest benefit
in AMC's film rental and concession negotiations for the combined
entity.

In resolving the CreditWatch placements, S&P will evaluate AMC's
financing plans for its acquisition of Nordic Cinema Group and its
ability to integrate all of its theaters from recent acquisitions,
including Carmike Cinemas and Odeon & UCI Cinemas.  In addition,
S&P will assess the combined company's financial risk profile and
evaluate its financial policy and ability to reduce leverage below
5x on a sustained basis within one year of the Nordic Cinemas
transaction's closing.  S&P could lower the ratings if it don't
expect leverage to sustainably decline below its 5x leverage
threshold for the corporate credit rating.


ARABELLA EXPLORATION: Seeks to Expedite CRO's Employment
--------------------------------------------------------
Arabella Exploration, LLC, asks the U.S. Bankruptcy Court for the
Northern District of Texas to expedite the employment of Charles
Hoebeke of Rehmann Turnaround and Receivership as chief
restructuring officer to the Debtor.

The employment of Mr. Hoebeke as CRO if not authorized, the
Debtor's member will be required to act immediately to retain a
replacement manager and educate him or her with regard to the
Debtor's operation and background.

Charles Hoebeke, member of Rehmann Turnaround and Receivership,
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.

Rehmann Turnaround can be reached at:

     Charles Hoebeke
     REHMANN TURNAROUND AND RECEIVERSHIP
     2330 E. Paris Ave SE
     Grand Rapids, MI 49546
     Tel: 616.975.4100
     Fax: 616.975.4400

           About Arabella Exploration, LLC

Arabella Exploration, LLC filed a voluntary petition for relief
under chapter 11 of the Bankruptcy Code (Bankr. N.D. Tex. Case No.
17-40120) on January 8, 2017. The petition was signed by Charles
(Chip) Hoebeke, manager.

The case is assigned to Judge Russell F. Nelms in Ft. Worth, Texas.
Raymond W. Battaglia, Esq. of the Law Offices of Ray Battaglia,
PLLC represents the Debtor.

Upon filing, the Debtor estimated $1 million to $50 million in
assets and liabilities. The Debtor did not include a list of its
largest unsecured creditors when it filed the petition.


ATLAS DISPOSAL: Taps Stuart M. Nachbar as New Legal Counsel
-----------------------------------------------------------
Atlas Disposal Options Inc. filed an application seeking approval
from the U.S. Bankruptcy Court for the District of New Jersey to
hire the Law Office of Stuart M. Nachbar, P.C. as its new legal
counsel.

The move came after Richard Fogel, Esq., filed a motion to be
relieved as the Debtor's attorney.

Nachbar will advise the Debtor regarding its duties under the
Bankruptcy Code, and provide other legal services related to its
Chapter 11 case.

The firm's attorney and paralegal will be paid $300 per hour and
$90 per hour, respectively.

Stuart Nachbar, Esq., disclosed in a court filing that his firm is
"disinterested" as defined in section 101(14) of the Bankruptcy
Code.

The firm can be reached through:

     Stuart M. Nachbar, Esq.
     Law Office of Stuart M. Nachbar, P.C.
     354 Eisenhower Parkway, Suite 2025
     Livingston, NJ 07039
     Phone: (973) 567-0954

                 About Atlas Disposal Options

Atlas was formed to offer environmental contractors and industrial
clients a single source for all their disposal needs.  The Debtor
facilitates transportation and disposal of almost any waste stream,
utilizing its own trucks, personnel and equipment to transport and
dispose of any petroleum, sanitary or hazardous
waste.

The Debtor sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. D. N.J. Case No. 16-19253) on May 12, 2016.  The
petition was signed by Paul Masser, president.  

The case is assigned to Judge Vincent F. Papalia.  Todd S. Marrazzo
serves as the Debtor's accountant.

At the time of the filing, the Debtor disclosed $347,640 in assets
and $1.05 million in liabilities.


AVAYA INC: Seeks $725-Million DIP Facility from Citibank
--------------------------------------------------------
Avaya Inc. and its affiliated debtors ask the U.S. Bankruptcy Court
for the Southern District of New York for authorization to obtain
post-petition financing, financial institutions, and other
entities, and use cash collateral.

The Debtors seek approval for a fully underwritten $725 million
debtor-in-possession credit facility, a portion of which may be
used to fund a cash collateralized letter of credit facility from
DIP agent Citibank, N.A.

The Debtors relate that the DIP Facilities are unique insofar as
they provide significant available liquidity, competitive pricing,
highly limited case controls, and a 12-month maturity date.  The
Debtors further relate that with interim access to approximately
$240 million of incremental liquidity after repayment of certain
existing funded debt and the cash collateralization of letters of
credit, and access to approximately $530 million of incremental
liquidity on a final basis, the Debtors will enter chapter 11 with
a strong message to customers, vendors, employees, and stakeholders
that their restructuring is both well-funded and well-positioned to
succeed.

The proposed DIP Financing contains, among others, the following
relevant terms:

     (1) Borrower: Avaya Inc.

     (2) Guarantors: Each Debtor aside from the Borrower and
Sierra.

     (3) DIP Lenders: A syndicate of banks, financial institutions,
and other entities, including Citibank, N.A., as L/C issuer,
arranged by Citigroup Global Markets Inc., Barclays Bank PLC and
Deutsche Bank Securities including Citibank, N.A., as L/C issuer,
and each of their respective successors and assigns.

     (4) Maturity and Termination Date: The earliest to occur of:

          (a) the Scheduled Termination Date, or the date that is
12 months after the Closing Date;

          (b) the Prepayment Date;

          (c) the Consummation Date;

          (d) the acceleration of the Loans and the termination of
the Commitments with respect to the Term Facility; and

          (e) the consummation of a sale of all or substantially
all of the assets of the Borrower, including a sale of all or
substantially all of the Contact Center Business.

     (5) The DIP Financing: A $725 million DIP Term Facility, to be
drawn as $425 million on an interim basis and an additional $300
million on a final basis that will:

          (a) upon entry of the Interim Order, be used to:

               (i) repay the approximately $55 million oustanding
under the Debtors' Prepetition Domestic ABL Credit Facility;

               (ii) repay the approximately $50 million oustanding
under the Prepetition Foreign ABL Credit Facility; and

               (iii) collateralize outstanding letters of credit
totaling approximately $67 million, with the ability to issue
additional letters of credit up to an aggregate cap of $150
million;

          (b) fund $75 million into a segregated account to provide
a liquidity backstop for the Debtors' international affiliates
through intercompany borrowings on an as-need basis; and

          (c) provide incremental liquidity of at least $240
million on an interim basis and $530 million on a final basis,
including the segregated cash held for the benefit of the Debtors'
international affiliates.

     (6) DIP Fees:

          (a) an interest rate of either LIBOR plus 750bps (with a
1% LIBOR floor) or Base Rate (Citi's Prime Rate) plus 650bps;

          (b) original issue discount of 1%;

          (c) an administrative agency fee and underwriting fee in
favor of the joint lead arranger and bookrunners of the DIP
Financing; and

          (d) additional fees and expenses, including, as adequate
protection, the fees and expenses of one primary counsel and
financial advisor for each of the Debtors' two ad hoc groups of
creditors.

     (7) DIP Liens & Claims: Subject to Carve-Out:

          (a) a a first priority, perfected lien on substantially
all unencumbered assets, subject to certain exceptions and
exclusions; provided that such liens and claims will not attach to
the proceeds of avoidance actions until entry of the Final Order;
and such liens and claims will not attach to Debtor Sierra
Communication International LLC;

          (b) a perfected junior lien on all assets subject to
other validly perfected liens or liens that are perfected to the
extent permitted by section 546(b) of the Bankruptcy Code;

          (c) a first priority, perfected priming lien with respect
to assets currently encumbered by the Debtors' prepetition funded
debt; and

          (d) superpriority claims with respect to obligations
outstanding under the DIP Facilities.

     (8) International Cash Pooling Obligations:

          (a) Utilize $75 million of proceeds from the DIP Term
Facility to fund the Cash Pool Requirements Account that, in turn,
will provide a liquidity backstop for the Debtors' non-U.S.
Affiliates through an inter-company borrowing protocol; and

          (b) Grant liens and claims to secure the Debtors'
obligations under certain Cash Pooling Agreements to the same
extent such obligations are secured by the Debtors on a priority
basis as of the Petition Date.

     (9) Adequate Protection: Subject to the Carve Out:

          (a) cash payment of interest at the non-default rate on
account of obligations outstanding under the Debtors' first lien
indebtedness;

          (b) cash payment of the reasonable and documented fees
and expenses for one primary counsel for each first lien agent or
trustee, as well as one primary counsel and financial advisor for
the Debtors' two ad hoc groups, so long as such groups hold at
least 20% of all First Lien Debt;

          (c) replacement liens and claims in favor of the
Prepetition Secured Parties encumbering each of the Debtors' assets
subject to the DIP Liens and Claims, such liens and claims granted
priority in accordance with the Debtors' intercreditor agreements;
and

          (d) additional lender protections in the form of 506(c)
and 552(b) waivers, in each case subject to entry of the Final
Order, stipulations as to liens and claims held by such parties,
and customary financial reporting.

     (10) Carve-Out: Consists of:

          (a) all fees required to be paid to the Clerk of the
Court and to the Office of the United States Trustee;

          (b) all reasonable fees and expenses up to $50,000
incurred by a trustee;

          (c) to the extent allowed at any time, whether by interim
order, procedural order, or otherwise, all unpaid fees and expenses
accrued or incurred by persons or firms retained by the Debtors,
whether allowed by the Court prior to or after delivery of a
Carve-Out Trigger Notice, subject to an investigation budget cap of
$175,000 with respect to Professional Fees to be incurred by the
Creditors' Committee and $150,000 with respect to professional fees
to be incurred by the Debtors solely with respect to the
professional fees to be incurred by the Debtors solely with respect
to the Retained Claims Collateral under the investigation budget;
and

          (d) Professional Fees in an aggregate amount not to
exceed $20,000,000 incurred after the first Business Day following
the delivery by the DIP Agent of the Carve-Out Trigger Notice.

     (11) Roll-Up: Repayment of approximately $105 million of
prepetition secured debt and the cash collateralization of
approximately $67 million of letters of credit issued thereunder,
including:

          (a) approximately $55 million pursuant to the Prepetition
Domestic ABL Credit Facility, and the cash collateralization of
approximately $44.3 million of letters of credit issued thereunder;
and

          (b) approximately $50 million pursuant to the Prepetition
Foreign ABL Credit Facility, and the cash collateralization of
approximately $22.7 million of letters of credit issued
thereunder.

The proposed DIP Financing provides for the following milestones:

     (a) the filing of a chapter 11 plan, that is acceptable to the
Required Lenders, on the one hand, and the Debtors, on the other
hand and disclosure statement with respect to the Acceptable Plan
with the Court within 180 days of the Petition Date, unless prior
to delivery of a Cash Collateral Adequate Protection Notice, the
Debtors have filed the Acceptable Plan and Disclosure Statement;

     (b) entry by the Court of an Order approving the Disclosure
Statement within 210 days of the Petition Date, unless prior to
delivery of a Cash Collateral Adequate Protection Notice, the Court
will have entered an Order approving the Disclosure Statement;

     (c) entry by the Court of an Order confirming the Acceptable
Plan within 280 days of the Petition Date, unless prior to delivery
of a Cash Collateral Adequate Protection Notice, the Court has
entered an order confirming the Acceptable Plan; or

     (d) consummation of the Acceptable Plan within 300 days of the
Petition Date, unless prior to delivery of a Cash Collateral
Adequate Protection Notice, the Debtors have consummated the
Acceptable Plan.

The Debtors' prepetition capital structure includes approximately
$6.023 billion in funded debt as of the Petition Date, consisting
of:

     (a) The Prepetition Domestic ABL Credit Facility, pursuant to
which, Debtor Avaya Inc. can borrow under a $335 million revolving
credit facility from Prepetition Domestic ABL Agent, Citicorp, USA,
Inc. As of the Petition Date, the indebtedness has an aggregate
balance of approximately $55 million, in addition to letters of
credit issued and oustanding with a face value of approximately
$44.3 million.  The obligations under the Prepetition Domestic ABL
Credit Facility are secured by substantially all assets of the
borrower and guarantors under the Prepetition Domestic ABL Credit
Agreement.

     (b) The Prepetition Cash Flow Credit Facility, between Avaya
Inc., as borrower and Citicorp USA, Inc., as administrative agent,
and the lenders that are party thereto from time to time, secured
by a first priority lien on substantially all the borrowers' and
guarantors' assets, subject to certain limitations and exclusions.
An aggregate principal amount of $3,235 million is oustanding as of
the Petition Date under the Prepetition Cash Flow Credit Facility,
consisting of:

          (1) $616 million outstanding in term B-3 loans maturing
October 26, 2017;

          (2) $1 million outstanding in term B-4 loans maturing
October 26, 2017;

          (3) $537 million outstanding in term B-6 loans maturing
March 31, 2018; and

          (4) $2,081 million outstanding in term B-7 loans maturing
May 29, 2020.

     (c) Two series of First Lien Notes:

          (1) Avaya Inc., as issuer, and The Bank of New York
Mellon Trust Company, N.A., as indenture trustee and collateral
agent, issued 7% first lien notes pursuant to a certain indenture
dated February 11, 2011.  The 7% First Lien Notes mature on April
1, 2019 and approximately $1,009 million in principal amount remain
outstanding as of the Petition Date.  Obligations under the 7%
First Lien Notes are secured by substantially all assets of each
Debtor other than Avaya Holdings Corp., subject to certain
limitations and exclusions.

          (2) Avaya Inc., as issuer, and The Bank of New York
Mellon Trust Company, N.A., as indenture trustee and collateral
agent, issued 9% first lien notes pursuant to that certain
indenture dated December 21, 2012.  The 9% First Lien Notes mature
on April 1, 2019 and approximately $290 million in principal amount
remain outstanding as of the Petition Date.  The obligations under
the 9% First Lien Notes are secured by substantially all assets of
each Debtor other than Avaya Holdings, subject to certain
limitations and exclusions.

     (d) Avaya Inc., as issuer, and The Bank of New York Mellon
Trust Company, N.A., as indenture trustee and collateral agent,
issued 10.5% second lien notes pursuant to a certain indenture
dated March 7, 2013.  The Second Lien Notes mature on March 1, 2021
and approximately $1,384 million in principal amount remaining
outstanding as of the Petition Date.  The Second Lien Notes are
secured on a second priority basis by substantially all assets of
each Debtor other than Avaya Holdings and Sierra, subject to
certain limitations and exclusions.  The Second Lien Notes
consititute Junior Secured Indebtedness subject to, among other
things, the subordination and DIP-financing related consent
provisions of the ABL Intercreditor Agreeement.

     (e) The Prepetition Foreign ABL Credit Facility between
certain of the Debtors' non-debtor affiliates as borrowers or
guarantors, Avaya Inc. and Citibank, N.A., as administrative agent,
Citibank N.A., Canadian Branch, as Canadian swing line lender,
Citibank N.A., Londong, as European swing line lender, and the
lenders that are parties thereto from time to time are parties to a
certain credit agreement dated June 4, 2015.  The Prepetition
Foreign ABL Credit Agreement provides the borrowers with access to
a $150 million revolving credit facility.  As of the Petition Date,
the Debtors have borrowed an aggregate principal amount of
approximately $50 million, plus additional letters of credit issued
and outstanding with an aggregate face value of approximately $22.7
million.  The Prepetition Foreign ABL Credit Facility is secured by
first priority liens over substantially all of the assets of the
borrowers as well as a pledge of all the equity interests of each
European Borrower owned by each non-U.S. guarantor of the
facility.

A full-text copy of the Debtor's Motion, dated Jan. 19, 2017, is
available at
http://bankrupt.com/misc/AvayaInc2017_1710089smb_13.pdf

Citibank, N.A., is represented by:

          Damian S. Schaible, Esq.
          Natasha Tsioutis, Esq.
          Aryeh E. Falk, Esq.
          DAVIS POLK & WARDWELL LLP
          450 Lexington Avenue
          New York, NY 10017

                        About Avaya Inc.

Santa Clara, California-based Avaya Inc. -- http://www.avaya.com/
-- helps to tie the corporate world together.  The company's
communication equipment and software integrate voice and data
services for customers including large corporations, government
agencies, and small businesses.  Its office phone systems
incorporate Internet protocol (IP) and Session Initiation protocol
(SIP) telephony, messaging, Web access, and interactive voice
response.  Avaya also offers consulting, integration, and other
managed IT services.  The company sells directly and through
distributors, resellers, systems integrators, and
telecommunications service providers; more than three-quarters of
its sales are made indirectly.  Its parent company is Avaya
Holdings.

Avaya Inc. and its affiliated Debtors filed chapter 11 petitions
(Bankr. S.D.N.Y. Lead Case No. 17-10089).  The petitions were
signed by Eric S. Koza, CFA, chief restructuring officer.  The
Debtors are represented by James H.M. Sprayregen, Esq., Jonathan S.
Henes, Esq., Patrick J. Nash, Jr., Esq., Ryan Preston Dahl, Esq.,
and Bradley Thomas Giordano, Esq., at Kirkland & Ellis LLP and
Kirkland & Ellis International LLP.  The Debtors disclosed total
assets at $5.52 billion and total debts at $6.35 billion as of
Sept. 30, 2016.

The Debtors retained Centerview Partners LLC as their investment
banker; Eric Koza, Esq. and Jesse Delconte, Esq., at Zolfo Cooper
LLC, as their restructuring advisor; Pricewaterhousecopers LLC as
their auditors; KPMG LLP as their tax & accountance advisor; The
Siegfried Group, LLP as their accountancy advisor & financial
services consultant; and Prime Clerk LLC as their notice, claims &
balloting agent.


AZURE MIDSTREAM: AME Owns Less Than 5% of Common Units
------------------------------------------------------
In an amended Schedule 13D filed with the Securities and Exchange
Commission, Azure Midstream Energy LLC and Azure Midstream Holdings
LLC disclosed that as of Jan. 19, 2017, they beneficially own
255,319 common units representing limited partner interests of
Azure Midstream Partners, LP representing 2.3 percent of the Units
outstanding.

On Jan. 19, 2017, AME delivered to the Partnership a written notice
pursuant to which AME irrevocably relinquished, released and
abandoned AME's option to acquire 20% of the Partnership's common
and subordinated units that were held by NuDevco as of
Feb. 27, 2015, as part of the contribution of the Legacy gathering
system and assets and related transactions.  The number of the
Partnership's common units that were beneficially owned by the
Reporting Persons prior to the delivery of the Option
Relinquishment Notice reflected 387,853 common units subject to
such option, which the Reporting Persons had the right to acquire
as provided in Rule 13d-3(d) of the Securities Exchange Act of
1934, as amended.  AME determined that, given the terms of such
option, including the fact that the option would have expired
pursuant to its terms on Feb. 27, 2017, the option was uneconomic,
no longer conferred any actual or potential benefits on AME and
should therefore be relinquished.  Effective upon the delivery of
the Option Relinquishment Notice, the Reporting Persons' beneficial
ownership of the Partnership's common units was reduced to 255,319
common units, which common units represent an ownership percentage
of 2.3% of the outstanding common units of the Partnership.
Accordingly, AME has ceased to be the beneficial owner of five
percent or more of the common units of the Partnership.

A full-text copy of the regulatory filing is available at:

                      https://is.gd/E6a13S

                     About Azure Midstream

Azure Midstream Partners, LP, is a publicly traded Delaware master
limited partnership that was formed by NuDevco Partners, LLC and
its affiliates to develop, own, operate and acquire midstream
energy assets.  The Company currently offers: (i) natural gas
gathering, compression, dehydration, treating, processing, and
hydrocarbon dew-point control and transportation services to
producers, marketers and third-party pipeline companies through the
Company's gathering and processing business segment; and (ii) crude
oil logistics services to Associated Energy Services, LP, an
affiliate, through its logistics business segment.

Azure reported a net loss of $222.42 million for the year ended
Dec. 31, 2015, compared to a net loss of $6.82 million for the year
ended Dec. 31, 2014.

As of Sept. 30, 2016, the Company had $375.5 million in total
assets, $179.4 million in total liabilities and $196.2 million in
total partners' capital.

KPMG LLP, in Dallas, Texas, issued a "going concern" qualification
on the consolidated financial statements for the year ended
Dec. 31, 2015, citing that the Partnership anticipates being out of
compliance with the requirements in the Credit Agreement during
2016, which would accelerate the maturity of the outstanding
indebtedness making it currently due and payable.  The Partnership
does not have sufficient liquidity to meet the accelerated debt
service requirements.  This issue raises substantial doubt about
its ability to continue as a going concern.

                         *    *    *

In September 2016, S&P Global Ratings lowered its corporate credit
rating on Azure Midstream Energy LLC to 'CCC+' from 'B-'.  "The
downgrade reflects our view that Azure's credit measures have
worsened due to unfavorable commodity prices and weak industry
conditions, which has made it more challenging to meet its
financial commitments," S&P Global Ratings analyst Mike Llanos
said.

In August 2016, Moody's Investors Service downgraded Azure
Midstream Energy's Corporate Family Rating (CFR) to 'Caa2' from
'B3', Probability of Default Rating (PDR) to 'Caa2-PD' from
'Caa1-PD', senior secured term loan rating to 'Caa2' from 'B3', and
the senior secured revolving credit facility rating to 'B1' from
'Ba3'.  The Speculative Grade Liquidity rating was withdrawn.  The
outlook remains negative.


AZURE MIDSTREAM: Executives to Receive $1.4M Retention Bonuses
--------------------------------------------------------------
The Board of Directors of Azure Midstream Partners GP, LLC, a
Delaware limited liability company, acting upon the recommendation
of the Board's Compensation Committee and Conflicts Committee,
adopted a Key Employee Retention Bonus plan on behalf of Azure
Midstream Partners, LP, a Delaware limited partnership, that will
include the participation of Azure Midstream Energy LLC, a Delaware
limited liability company and affiliate of the General Partner.

Terms of the Retention Bonus Plan are as follows:

   * The Retention Bonus Plan will replace the Partnership's
     existing retention program, which the General Partner adopted

     on the Partnership's behalf on Sept. 21, 2016, for each
     Participant that enters into a Retention Bonus Agreement.

   * Certain key employees engaged by the General Partner, and who
     provide services on behalf of the Partnership and AME, will
     receive a cash bonus payment.

   * Amounts paid pursuant to the Retention Bonus Plan will offset
     any amounts that the Partnership would otherwise owe
     Participants under the Legacy Plan and/or the Partnership's
     severance policy.

   * The amount of Retention Bonus paid to each Participant will
     be based on a percentage of such Participant's current base
     salary.

   * The Partnership will pay 50% of the Retention Bonus to
     Participants on or about the date that such Participant
     enters into a Key Employee Retention Bonus Agreement with the
     Partnership and AME.  AME will pay the remaining 50% of the
     Retention Bonus in three equal installments, each equal to
     12.5% of the Retention Bonus amount, on each of April 1,
     2017, Oct. 1, 2017, and Jan. 1, 2018.

   * Participants will be required repay to the Partnership any
     Partnership Retention Bonus amounts received by such
     Participant if prior to the earlier of (i) 12 months
     following the payment date of such Partnership Retention
     Bonus; (ii) confirmation of a plan under chapter 11 of title
     11 of the United States Code; and (iii) the filing of a
     conversion of any Chapter 11 case commenced by the
     Partnership to a case under Chapter 7 of the Bankruptcy Code,
     any such Participant voluntarily terminates their employment,
     or such Participant's employment is terminated for Cause (as
     defined in the Retention Bonus Agreements).

   * Participants will forfeit any rights to AME Installments not
     yet received if, prior to the next scheduled AME Installment
     payment date, such Participant voluntarily terminates their
     employment, or such Participant's employment is terminated
     for Cause (as defined in the Retention Bonus Agreements).

Each of these named executive officers will receive Partnership
Retention Bonuses from the Partnership:

                                              Partnership
  Officer                                   Retention Bonus
  -------                                   ---------------
I. J. "Chip" Berthelot, President              $750,750
Amanda Bush, CFO                               $378,125
David Garrett, Vice President Commercial       $300,000

                    About Azure Midstream

Azure Midstream Partners, LP, is a publicly traded Delaware master
limited partnership that was formed by NuDevco Partners, LLC and
its affiliates to develop, own, operate and acquire midstream
energy assets.  The Company currently offers: (i) natural gas
gathering, compression, dehydration, treating, processing, and
hydrocarbon dew-point control and transportation services to
producers, marketers and third-party pipeline companies through the
Company's gathering and processing business segment; and (ii) crude
oil logistics services to Associated Energy Services, LP, an
affiliate, through its logistics business segment.

Azure reported a net loss of $222.42 million for the year ended
Dec. 31, 2015, compared to a net loss of $6.82 million for the year
ended Dec. 31, 2014.

As of Sept. 30, 2016, the Company had $375.5 million in total
assets, $179.4 million in total liabilities and $196.2 million in
total partners' capital.

KPMG LLP, in Dallas, Texas, issued a "going concern" qualification
on the consolidated financial statements for the year ended
Dec. 31, 2015, citing that the Partnership anticipates being out of
compliance with the requirements in the Credit Agreement during
2016, which would accelerate the maturity of the outstanding
indebtedness making it currently due and payable.  The Partnership
does not have sufficient liquidity to meet the accelerated debt
service requirements.  This issue raises substantial doubt about
its ability to continue as a going concern.

                         *    *    *

In September 2016, S&P Global Ratings lowered its corporate credit
rating on Azure Midstream Energy LLC to 'CCC+' from 'B-'.  "The
downgrade reflects our view that Azure's credit measures have
worsened due to unfavorable commodity prices and weak industry
conditions, which has made it more challenging to meet its
financial commitments," S&P Global Ratings analyst Mike Llanos
said.

In August 2016, Moody's Investors Service downgraded Azure
Midstream Energy's Corporate Family Rating (CFR) to 'Caa2' from
'B3', Probability of Default Rating (PDR) to 'Caa2-PD' from
'Caa1-PD', senior secured term loan rating to 'Caa2' from 'B3', and
the senior secured revolving credit facility rating to 'B1' from
'Ba3'.  The Speculative Grade Liquidity rating was withdrawn.  The
outlook remains negative.


BAERG REAL PROPERTY: Unsecureds to be Fully Paid in 36 Mos. at 2.5%
-------------------------------------------------------------------
Baerg Real Property Trust, dba Lake Bluffs Apartments, dba Lakeview
Village, dba The Woods Apartments, dba Oakway Manor Apartments,
filed with the U.S. Bankruptcy Court for the Northern District of
Texas a disclosure statement dated Jan. 22, 2017, referring to the
Debtor's plan of reorganization.

Class 6 Allowed General Unsecured Claims will be paid in full over
36 months from the Effective date with interest at a rate of 2.5%
per annum, accruing as of the confirmation date.  The first payment
is due on the first day of the first month following the Effective
Date and all subsequent payments will continue on the first day of
each month thereafter until the allowed amount of the claim is paid
in full.

The total of claims in this class is estimated at approximately
$32,304.74.  This class is impaired and the holder of a claim in
this class is entitled to vote to accept or reject the Plan.  

Any insider unsecured claims, to the extent they exist, will be
paid nothing under this Plan.

The Debtor's profitability to fund the Plan is based on the amount
of money that it will earn through the continuation of its business
or through the possible future sale of its four apartment
complexes.

The Debtor asserts that the Plan is feasible.  The properties do
require ongoing maintenance and repairs.  Some of the properties
still have tornado damage that requires repair.  The estimated
costs of these repairs has not been determined but is believed by
the owners of the Debtor to be less than $100,000.  This amount
could vary as repair estimates are obtained.  The third party
management company is obtaining repair estimates.

The Disclosure Statement is available at:

            http://bankrupt.com/misc/txnb16-33793-63.pdf

                  About Baerg Real Property Trust

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


BARTON PROPERTIES: Hires Alter & Brescia as Bankruptcy Counsel
--------------------------------------------------------------
Barton Properties New York, LLC, seeks authority from the U.S.
Bankruptcy Court for the Southern District of New York to employ
Alter & Brescia, LLP as bankruptcy counsel to the Debtor.

Barton Properties requires Alter & Brescia to:

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

   (b) prepare and file the Debtor's petition and schedules and
       amendments and supplements thereto, as necessary;

   (c) negotiate with secured, priority and general unsecured
       creditors of the Debtor and other parties in interest in
       formulating a plan or plans of reorganization, and to take
       legal steps necessary to confirm such plan or plans,
       including, if need be, negotiations for financing such
       plans, and the refinancing or sale of the properties owned
       by the Debtor;

   (d) prepare on behalf of the Debtor, as Debtor-in-Possession,
       necessary applications, motions, complaints, answers,
       orders, reports and other pleadings and documents;

   (e) appear before the Court and the United States Trustee and
       to represent the interests of the Debtor before the Court
       and the United States Trustee; and

   (f) provide such other services for the Debtor as it may
       request and as may be necessary or appropriate.

Alter & Brescia will be paid at these hourly rates:

     Partners                   $425-$500
     Associates                 $275-$375
     Paraprofessionals          $105

Alter & Brescia will be paid a retainer in the amount of $16,717,
inclusive of filing fees.

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

Bruce R. Alter, member of Alter & Brescia, 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.

Alter & Brescia can be reached at:

     Bruce R. Alter, Esq.
     ALTER & BRESCIA, LLP
     550 Mamaroneck Avenue, Suite 401
     Harrison, NY 10528
     Tel: (914) 670-0030

              About Barton Properties New York, LLC

Barton Properties New York LLC sought protection under Chapter 11
of the Bankruptcy Code (Bankr. S.D.N.Y. Case No. 16-23715) on
December 14, 2016. The petition was signed by Benjamin Barton,
managing member.

The case is assigned to Judge Robert D. Drain. The Debtor hired
Alter & Brescia, LLP as bankruptcy counsel.

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

No trustee, examiner or committee of unsecured creditors has been
appointed in the Debtor's case.



BENNU TITAN: Chapter 11 Case Sent to Texas
------------------------------------------
Vince Sullivan, writing for Bankruptcy Law360, reported that Bennu
Titan LLC has agreed to transfer its Chapter 11 cases from Delaware
to Texas just days after it asked a Delaware judge to bring the
cases of its parent company there from Houston.

During a hearing in Wilmington, an attorney for Chapter 11 trustee
Gerald Schiff told the court it did not have to issue a ruling on
his transfer of venue motion because, after talks with the major
involved parties, the trustee decided to send his case to Texas.

Mr. Sullivan previously reported that:

     1. the Chapter 11 trustee for Bennu Titan LLC told the
Delaware court that the liquidation cases of Bennu Titan's parent
company should be transferred to Delaware from Texas in the
interest of justice and judicial economy; and

     2. the Chapter 11 trustee pointed out that Bennu Titan's case
was filed first.

Wilmington Trust, National Association, Sojitz Energy Venture,
Inc., Hornbeck Offshore Services, LLC, Harvey Gulf International
Marine, LLC, objected to the Trustee's request to transfer venue of
the Chapter 7 cases.

                    About Bennu Titan LLC

Bennu Titan LLC, formerly known as ATP Titan LLC, is part of a
business enterprise  engaged in the acquisition, exploration,
development, and production of oil and natural gas properties in
the Gulf of Mexico. It is a limited liability company formed in
May 2010 as a special purpose vehicle with one member, Bennu Titan
Holdco LLC.  Bennu Holdco  has one member, Bennu Oil & Gas, LLC
("Bennu O&G"); and Bennu O&G has one member,  Bennu Holdings, LLC
("Bennu Holdings").

Bennu Titan owns a multi-column, deep draft, floating drilling and
production  platform commonly known as Titan as well as two oil
and gas export pipelines and related rights of way.

Beal Bank USA and CLMG Corp. filed an involuntary Chapter 11
petition against Texas-based offshore drilling firm Bennu Titan
LLC f/k/a ATP Titan LLC (Bankr. D. Del. Case No. 16-11870) on
Aug. 11, 2016. The court entered an order for relief on
Sept. 9, 2016.

The Debtor is represented by William P. Bowden, Esq., at Ashby &
Geddes, P.A.  The petitioning creditors are represented by Michael
J. Farnan, Esq., and Joseph J. Farnan, Esq., at Farnan LLP and
Thomas E. Lauria, Esq., at White & Case LLP.

On Nov. 21, 2016, the U.S. Trustee nominated Gerald H. Schiff to
serve as the Chapter 11 Trustee and moved for an order approving
his appointment.  On Nov. 23, 2016, the Court entered an order
approving Mr. Schiff's appointment.

The Chapter 11 Trustee tapped Sullivan Hazeltine Allison LLC and
Kelly Hart Pitre as bankruptcy counsel, and Gordon, Arata,
McCollam, Duplantis & Eagan, LLC as special regulatory and oil and
gas counsel.

No official committee of unsecured creditors has been appointed.

Bennu Oil & Gas, LLC and affiliates filed voluntary Chapter 7
petitions (Bankr. S.D. Tex. Case No. 16-35930) on Nov. 30, 2016.
The Hon. David R. Jones presides over the case.   The Chapter 7
Trustee is Janet S Casciato-Northrup, Esq., at Hughes Watters and
Askanase.


BIONITROGEN HOLDINGS: Court Moves Plan Filing Period to Jan. 30
---------------------------------------------------------------
Judge Robert A. Mark of the U.S. Bankruptcy Court for the Southern
District of Florida extended the exclusive periods during which
BioNitrogen Holdings, Corp. and its affiliated Debtors have the
exclusive right to (a) file a Chapter 11 plan and disclosure
statement through and including January 30, 2017, and (b) solicit
acceptances thereof, through and including March 30, 2017.

The Troubled Company Reporter had earlier reported that the Debtors
previously sought the extension of their exclusivity periods,
saying that they require additional time to finalize a deal and
specific terms of a plan, exploring various investment
opportunities with sophisticated strategic and financial investors
who have scientific and technical expertise with the Debtors'
intellectual property, that is the primary asset in these cases.
The Debtors also told the Court that the agreements, once finalized
will allow them to easily obtain the necessary financing to acquire
the manufacturing plant components that Graham Copley has been
evaluating since the entry of the Third Order extending their
exclusive periods.

The preliminary agreement, however, did not ultimately materialize
into a final binding agreement among the parties, and consequently
the Debtors had not yet been able to prepare a plan of
reorganization.  Nevertheless, the Debtors relate that they have
continued to pursue all viable reorganization opportunities,
including a financial sponsor or acquirer to provide the necessary
funding associated with confirming a plan of reorganization and
exiting these chapter 11 cases.

The Debtors further told the Court that they have continued to
confer with Annon Consulting, Inc., which had agreed to continued
imposition of the automatic stay and to extend the Drop Dead Date
under the Stay Relief Order and a commensurate extension of
Exclusivity for an additional 45 days provided that the Debtors
agree to an increase in Annon's allowed claim of $50,000, as
Adequate Protection, to allow the Debtors to continue pursuing
various reorganization strategies.

                   About BioNitrogen Holdings, Corp.

BioNitrogen Holdings Corp. (OTC PINK: BION) --
http://www.BioNitrogen.com/-- is a cleantech company that utilizes
patented technology to build environmentally friendly plants that
convert biomass into urea fertilizer.

Miami, Florida-based BioNitrogen Holdings, Corp., formerly known as
Hidenet Securities Architectures, Inc., doing business as
BioNitrogen Corp. and its affiliates filed for Chapter 11
protection (Bankr. S.D. Fla. Case Nos. 15-29505 to 15-29515) on
Nov. 3, 2015.  The petition was signed by Carlos A. Contreras,
chairman and chief executive officer.

Bankruptcy Judges Robert A. Mark, Laurel M. Isicoff and Jay Cristol
preside over the cases.  Jacqueline Calderin, Esq., at Ehrenstein
Charbonneau Calderin represents the Debtors in their restructuring
effort.  BioNitrogen Holdings disclosed that the value of its
assets are "unknown" and its liabilities total $3.5 million.
BioNitrogen Florida Holdings and BioNitrogen Plant FL Taylor
estimated assets between $0 and $50,000, and debts at $1 million to
$10 million.

The Debtors hired the Law Office of Frederick M. Lehrer. as their
special counsel; and Nexus Engineering Group, LLC to provide them
engineering support services.


BLACKMAN COMMUNITY WATER: Has Until March 31 to File Plan
---------------------------------------------------------
Judge Jerry C. Oldshue, Jr. of the U.S. Bankruptcy Court for the
Northern District of Florida extended Blackman Community Water
System, Inc.'s exclusive period to propose a plan of reorganization
until March 31, 2017, pursuant to a stipulation between the Debtor
and the United States Department of Agriculture, Rural
Development.

Judge Oldshue had also extended the Debtor's use of cash
collateral, and directed the Debtor to make monthly adequate
protection payments to USDA/Rural in the amount of $1,700,
beginning on February 1, 2017.

The Debtor's use of cash collateral expires at the earliest of:

     (a) the expiration of the Debtor's exclusivity period for
proposing a plan of reorganization;

     (b) the appointment of a trustee or examiner in the Chapter 11
case; or

     (c) confirmation of a plan of reorganization under Bankruptcy
Code section 1129.

The Troubled Company Reporter had earlier reported that the Debtor
sought an extension in order to: (a) formulate and implement a
water usage rate structure change which included allowing
sufficient notice to the users prior to the rate change going into
effect; (b) gather sufficient, observable data regarding the
effects of the rate structure change; and (c) analyze the results
of the rate change.  However, the Debtor further told the Court
that counsel for the Debtor has not had an opportunity to confer
with counsel for the USDA/Rural or the U.S. Trustee's Office, but
they have scheduled to conduct a teleconference on December 29,
2016.  

              About Blackman Community Water System

Blackman Community Water System Inc. filed a Chapter 11 petition
(Bankr. N.D. Fla. Case No. 16-30031) on Jan. 15, 2016.  The
petition was signed by Randall Ward, president.  The Debtor
disclosed assets at $5.32 million and debts at $1.96 million.  The
Debtor is represented by Ashley B. Rogers, Esq., at Chesser & Barr
P.A.


BLUE LEOPARD: Ch. Trustee Hires Humphrey Law as Counsel
-------------------------------------------------------
W. Donald Gieseke, the Chapter 11 Trustee of Blue Leopard, LLC,
seeks authority from the U.S. Bankruptcy Court for the District of
Nevada to employ Humphrey Law, PLLC as counsel to the Trustee.

The Trustee requires Humphrey Law to:

   a. investigate the Debtor's assets and analyze the Statements
      and Schedules;

   b. evaluate the secured claims against property of the Estate
      and investigate potential unsecured claims;

   c. evaluate and obtain cash collateral orders if needed, by
      way of stipulation or contested motion, in relation to any
      secured creditor claiming the rents, issues, and profits of
      any of the Debtor's property as part of its collateral;

   d. defend, if appropriate, any motions brought under 11 U.S.C.
      Sections 361 and 362;

   e. defend, if appropriate, any motion brought under 11 U.S.C.
      Section 1112;

   f. evaluate and, if necessary, prosecute any turnover actions
      under 11 U.S.C. Section 542;

   g. evaluate and, if necessary, prosecute any avoidance actions
      under 11 U.S.C. Sections 544-552;

   h. evaluate and, if necessary, prosecute any non-bankruptcy
      claims the Estate may have;

   i. assist in evaluating whether a plan of reorganization
      should be pursued and, if appropriate, obtain approval of a
      disclosure statement and plan;

   j. assist in determining whether conversion of the Bankruptcy
      Case to Chapter 7 may be appropriate in lieu of a chapter
      11 plan; and

   k. assist in connection with any other legal matters that may
      arise during the Trustee's administration of the Debtor's
      Estate.

Humphrey Law will be paid at these hourly rates:

     Partners                  $350
     Paralegal                 $150

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

L. Edward Humphrey, member of Humphrey Law, PLLC, assured the Court
that the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code and does not represent any
interest adverse to the Debtor and its estates.

Humphrey Law can be reached at:

     L. Edward Humphrey, Esq.
     HUMPHREY LAW, PLLC
     201 West Liberty Street, Suite 204
     Reno, NV 89501
     Tel: (775) 420-3500
     Fax: (855) 485-6329

               About Blue Leopard, LLC

Blue Leopard L.L.C. is a business which operates as a holding
company for five pieces of real estate. It is owned 50% by J Colby
Wheeler, and 50% by Chad Slade.

The Debtor sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. D. Nev. Case No. 16-10686) on Feb. 18, 2016. The
petition was signed by J. Colby Wheeler, managing member. The case
is assigned to Judge Mike K. Nakagawa. The Debtor is represented by
Seth D. Ballstaedt, Esq., at The Ballstaedt Law Firm. The Debtor
estimated assets of $500,000 to $1 million and debts of $1 million
to $10 million.

W. Donald Gieseke, the Chapter 11 Trustee of Blue Leopard, LLC,
hires Humphrey Law, PLLC as his counsel.



BLUE STAR GROUP: Taps Mulhern Patterson as Special Counsel
----------------------------------------------------------
Blue Star Group, Inc. seeks approval from the U.S. Bankruptcy Court
for the District of Maryland to hire Mulhern, Patterson & Marshall,
LLP as special counsel.

Mulhern Patterson will provide advice to Blue Star and its
affiliates on regulatory and general corporate matters, and tort
and insurance related-litigation matters.

John Marshall, Esq., the lead partner on the engagement, charges
$265 per hour.  Defense for tort and insurance-related litigation
matters will be billed at a rate of $165 per hour.

Mr. Marshall disclosed in a court filing that his firm is a
"disinterested person" as defined in section 101(14) of the
Bankruptcy Code.

The firm can be reached through:

     John Marshall, Esq.
     Mulhern, Patterson & Marshall, LLP
     451 Hungerford Drive, Suite 200
     Rockville, MD 20850
     Phone: (301) 424-0600

                      About Blue Star Group

Blue Star Group, Inc., Barwood, Inc., Checker Transportation
Company, Inc., City Lease, Inc., Fleet Tech, Inc., and Silver
Spring Transportation Company, each filed voluntary petitions for
relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Md. Lead
Case No. 16-26548) on December 20, 2016.  The petitions were signed
by Lee Barnes, president.  The cases are assigned to Judge Thomas
J. Catliota.

The Debtors are represented by Alan M. Grochal, Esq., Marissa K
Lilja, Esq., and Joseph Michael Selba, Esq. of Tydings & Rosenberg,
LLP.

As of December 31, 2015, the Debtors and certain non-debtor driver
partners had approximately $4.5 million in assets and approximately
$5.4 million in liabilities.  The Debtors have 57 employees as of
the bankruptcy filing.

In its petition, Blue Star Group listed under $50,000 in assets and
under $10 million in liabilities.  Barwood Inc. listed under $10
million in assets, and under $500,000 in liabilities.  Fleet Tech
listed under $100,000 in both assets and liabilities.


BONANZA CREEK: Hires Alvarez & Marsal as Financial Advisors
-----------------------------------------------------------
Bonanza Creek Energy, Inc., et al., seek authority from the U.S.
Bankruptcy Court for the District of Delaware to employ Alvarez &
Marsal North America, LLC as financial advisors to the Debtors.

Bonanza Creek requires Alvarez & Marsal to provide restructuring
support services appropriate and feasible in order to manage and
advise the Debtors in the course of the chapter 11 cases,
including, but not limited to:

   (a) provide consulting services at the direction of the
       Debtors' Chief Executive Officer (the "Responsible
       Officer") in connection with the Debtors' efforts in
       seeking to improve the Debtors' financial and operating
       performance and assistance to the Debtors in their
       reorganization efforts;

   (b) in rendering its services to the Debtors, Alvarez & Marsal
       will report directly to the Responsible Officer and will
       make recommendations to and consult with the Responsible
       Officer and other senior officers as the Board of
       Directors (the "Board") or Responsible Officer directs;

   (c) in connection with the services to be provided, from time
       to time Alvarez & Marsal may utilize the services of
       employees of its affiliates and subsidiaries. Such
       affiliates are wholly owned by Alvarez & Marsal's parent
       company and employees.

Alvarez & Marsal will be paid at these hourly rates:

     Managing Directors                   $675–975
     Directors                            $500–750
     Associates/Analysts                  $350–575

In the 90 days prior to the Petition Date, Alvarez & Marsal
received retainers and payments totaling $1,633,720 in the
aggregate for services performed for the Debtors. Alvarez & Marsal
has applied these funds to amounts due for services rendered and
expenses incurred prior to the Petition Date.

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

R. Seth Bullock, member of Alvarez & Marsal North America, LLC,
assured the Court that the firm is a "disinterested person" as the
term is defined in Section 101(14) of the Bankruptcy Code and (a)
are not creditors, equity security holders or insiders of the
Debtor; (b) have not been, within two years before the date of the
filing of the Debtor's chapter 11 petition, directors, officers or
employees of the Debtor; and (c) do not have an interest materially
adverse to the interest of the estate or of any class of creditors
or equity security holders, by reason of any direct or indirect
relationship to, connection with, or interest in, the Debtor, or
for any other reason.

Alvarez & Marsal can be reached at:

     R. Seth Bullock
     ALVAREZ & MARSAL NORTH AMERICA, LLC
     700 Louisiana Street, Suite 900
     Houston, TX 77002
     Tel: (713) 571-2400
     Fax: (713) 547-3697

                   About Bonanza Creek Energy, Inc.

Bonanza Creek Energy, Inc. (NYSE: BCEI)
--http://www.bonanzacrk.com/-- is an independent oil and Natural
Gas Company engaged in the acquisition, exploration, development
and production of onshore oil and associated liquids-rich natural
gas in the U.S. The Company's assets and operations are
concentrated primarily in the Rocky Mountain region in the
Wattenberg Field, focused on the Niobrara and Codell formations,
and in southern Arkansas, focused on oily Cotton Valley sands.

As of Sept. 30, 2016, Bonanza had $1.22 billion in total assets,
$1.13 billion in total liabilities and $84.75 million in total
stockholders' equity.

On Jan. 4, 2017 Bonanza Creek Energy, Inc., and six affiliated
debtors each filed a voluntary petition for relief under Chapter 11
of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. Case No.
17-10015). The cases are pending before the Hon. Kevin J. Carey,
and the Debtors have requested joint administration of the cases.

Davis, Polk & Wardwell LLP is acting as legal counsel, Richards,
Layton & Finger, P.A., is acting as co-counsel, Perella Weinberg
Partners LP is acting as financial advisor, Alvarez & Marsal LLC is
acting as restructuring advisor and Prime Clerk LLC is acting as
notice, claims and solicitation agent to the Company in connection
with its restructuring efforts.

Kirkland & Ellis LLP serves as legal counsel and Evercore Group
L.L.C. serves as financial advisor to the ad hoc committee of
holders of the Senior Notes.



BONANZA CREEK: Hires Davis Polk as Bankruptcy Counsel
-----------------------------------------------------
Bonanza Creek Energy, Inc., et al., seek authority from the U.S.
Bankruptcy Court for the District of Delaware to employ Davis Polk
& Wardwell LLP as counsel to the Debtors.

Bonanza Creek requires Davis Polk to:

   (a) prepare on behalf of the Debtors all necessary or
       appropriate motions, applications, answers, orders,
       reports and other papers in connection with the
       administration of the Debtors' estates;

   (b) counsel the Debtors with regard to their rights and
       obligations as debtors in possession and their powers and
       duties in the continued management and operation of
       their businesses and properties;

   (c) provide advice, representation and preparation of
       necessary documentation and pleadings and take all
       necessary or appropriate actions in connection with debt
       restructuring, statutory bankruptcy issues, postpetition
       financing, if any, strategic transactions, securities
       laws, real estate, employee benefits, environmental,
       business and commercial litigation, and corporate and tax
       matters;

   (d) take all necessary or appropriate actions to protect and
       preserve the Debtors' estates, including the prosecution
       of actions on the Debtors' behalf, the defense of any
       actions commenced against the Debtors, the negotiation of
       disputes in which the Debtors are involved and the
       preparation of objections to claims filed against the
       Debtors' estates;

   (e) take all necessary or appropriate actions in connection
       with any chapter 11 plan, all related disclosure
       statements and all related documents and such further
       actions as may be required in connection with the
       administration of the Debtors' estates; and

   (f) act as general bankruptcy counsel for the Debtors and
       perform all other necessary or appropriate legal services
       in connection with the chapter 11 cases.

Davis Polk will be paid at these hourly rates:

     Partners                     $1,095-$1,350
     Counsel                      $1,025
     Associates                   $410-$970
     Paraprofessionals            $295-$490

Davis Polk will be paid a retainer in the amount of $600,000.

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

In accordance with the Office of the United States Trustee's
Appendix B - Guidelines for Reviewing Applications for Compensation
and Reimbursement of Expenses Filed under 11 U.S.C. Sec. 330 for
Attorneys in Larger Chapter 11 Cases, the firm provides the
following information:

   Question:  Did you agree to any variations from, or
              alternatives to, your standard or customary billing
              arrangements for this engagement?

   Response:  Davis Polk has agreed to negotiated discounts off
              of its standard rates.

   Question:  Do any of the professionals included in this
              engagement vary their rate based on the geographic
              location of the bankruptcy case?

   Response:  No.

   Question:  If you represented the client in the 12 months
              prepetition, disclose your billing rates and
              material financial terms for the prepetition
              engagement, including any adjustments during the 12
              months prepetition. If your billing rates and
              material financial terms have changed postpetition,
              explain the difference and the reasons for the
              difference.

   Response:  Prior to January 1, 2017, Davis Polk's rates for
              timekeepers for its prepetition engagement on this
              matter were $1,045 to $1,285 for partners, $980 for
              counsel, $390 to $925 for associates and $285 to
              $465 for paraprofessionals. As agreed with the
              Debtors, and in connection with Davis Polk's annual
              rate increase, on January 1, 2017, Davis Polk's
              prepetition rates increased to $1,095 to $1,350 for
              partners, $1,025 for counsel, $410 to $970 for
              associates and $295 to $490 for paraprofessionals.
              Davis Polk's billing rates have not changed
              postpetition.

   Question:  Has your client approved your prospective budget
              and staffing plan, and, if so for what budget
              period?

   Response:  Davis Polk intends to provide a prospective budget
              and staffing plan for the period from the Petition
              Date through March 31, 2017 to the Debtors and will
              continue to work with the Debtors on the budget and
              staffing plan.

Brian M. Resnick, member of Davis Polk & Wardwell 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 (a) are not
creditors, equity security holders or insiders of the Debtor; (b)
have not been, within two years before the date of the filing of
the Debtor's chapter 11 petition, directors, officers or employees
of the Debtor; and (c) do not have an interest materially adverse
to the interest of the estate or of any class of creditors or
equity security holders, by reason of any direct or indirect
relationship to, connection with, or interest in, the Debtor, or
for any other reason.

     Davis Polk can be reached at:
     Brian M. Resnick, Esq.
     DAVIS POLK & WARDWELL LLP
     450 Lexington Avenue
     New York, NY 10017
     Tel: (212) 450-4000
     Fax: (212) 607-7983
     E-mail: brian.resnick@davispolk.com

                   About Bonanza Creek Energy, Inc.

Bonanza Creek Energy, Inc. (NYSE: BCEI)
--http://www.bonanzacrk.com/-- is an independent oil and Natural
Gas Company engaged in the acquisition, exploration, development
and production of onshore oil and associated liquids-rich natural
gas in the U.S. The Company's assets and operations are
concentrated primarily in the Rocky Mountain region in the
Wattenberg Field, focused on the Niobrara and Codell formations,
and in southern Arkansas, focused on oily Cotton Valley sands.

As of Sept. 30, 2016, Bonanza had $1.22 billion in total assets,
$1.13 billion in total liabilities and $84.75 million in total
stockholders' equity.

On Jan. 4, 2017 Bonanza Creek Energy, Inc., and six affiliated
debtors each filed a voluntary petition for relief under Chapter 11
of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. Case No.
17-10015). The cases are pending before the Hon. Kevin J. Carey,
and the Debtors have requested joint administration of the cases.

Davis, Polk & Wardwell LLP is acting as legal counsel, Richards,
Layton & Finger, P.A., is acting as co-counsel, Perella Weinberg
Partners LP is acting as financial advisor, Alvarez & Marsal LLC is
acting as restructuring advisor and Prime Clerk LLC is acting as
notice, claims and solicitation agent to the Company in connection
with its restructuring efforts.

Kirkland & Ellis LLP serves as legal counsel and Evercore Group
L.L.C. serves as financial advisor to the ad hoc committee of
holders of the Senior Notes.



BONANZA CREEK: Hires Perella as Restructuring Financial Advisor
---------------------------------------------------------------
Bonanza Creek Energy, Inc., et al., seek authority from the U.S.
Bankruptcy Court for the District of Delaware to employ Perella
Weinberg Partners LP as restructuring financial advisor to the
Debtors.

Bonanza Creek requires Perella to:

   General Financial Advisory Services

   (a) familiarize with the business, operations, properties,
       financial condition and prospects of the Debtors;

   (b) review the Debtors' financial condition and outlook;

   (c) assist in the development of financial data and
       presentations to the Debtors' Board of Directors, various
       creditors, and other parties;

   (d) analyze the Debtors' financial liquidity and evaluate
       alternatives to improve such liquidity;

   (e) evaluate the Debtors' debt capacity and alternative
       capital structures;

   (f) participate in negotiations among the Debtors and its
       creditors, suppliers, lessors and other interested parties
       with respect to any of the transactions contemplated by
       the Engagement Letter;

   (g) advise the Debtors and negotiate with lenders with respect
       to potential waivers or amendments of various credit
       facilities; and

   (h) provide such other advisory services as are customarily
       provided in connection with the analysis and negotiation
       of any of the transactions contemplated by the Engagement
       Letter, as requested and mutually agreed.

   Restructuring Services

   (a) analyze various Restructuring scenarios and the potential
       impact of these scenarios on the value of the Debtors and
       the recoveries of those stakeholders impacted by the
       Restructuring;

   (b) provide strategic advice with regard to restructuring or
       refinancing the Debtors' obligations;

   (c) provide financial advice and assistance to the Debtors in
       developing a Restructuring;

   (d) provide expert financial analysis on the valuation of the
       Debtors as may be required or requested by the Debtors in
       connection with a Restructuring;

   (e) assist the Debtors and participate in negotiations with
       entities or groups affected by a Restructuring; and

   (f) in connection therewith, provide financial advice and
       assistance to the Debtors in structuring any new
       securities to be issued under a Restructuring;

   Chapter 11 Services

   (a) provide financial advice to the Debtors in structuring and
       effecting debt or equity financing for a plan of
       reorganization under chapter 11 of the Bankruptcy Code,
       identify potential debt or equity investors and, at the
       Debtors' request, contact and solicit such investors;

   (b) assist in the arranging of debt or equity financing for a
       plan of reorganization under chapter 11 of the Bankruptcy
       Code, including identifying potential sources of such debt
       or equity financing, assisting the Debtors in the due
       diligence process, and negotiating the terms of any such
       proposed financing, as requested by the Debtors;

   (c) review financial disclosures, including, in any case under
       chapter 11 of the Bankruptcy Code, schedules of assets and
       liabilities, statements of financial affairs, monthly
       operating reports and information contained in any
       disclosure statement;

   (d) assist in the review and analysis of executory contracts
       and leases, performance of cost or benefit evaluations
       with respect to the assumption or rejection of such
       contracts and leases and negotiation with counterparties
       in connection with such assumption or rejection;

   (e) assist in the analysis of, and negotiation with, material
       creditor claims in these cases; and

   (f) provide testimony, as necessary or advisable, in
       connection with the foregoing.

   Financing Services

   (a) provide financial advice to the Debtors in structuring and
       effecting a Financing, identify potential Investors and,
       at the Debtors' request, contact and solicit such
       Investors; and

   (b) assist in the arranging of a Financing, including
       identifying potential sources of capital, assisting in the
       due diligence process, and negotiating the terms of any
       proposed Financing, as requested.

   Sale Services

   (a) provide financial advice to the Debtors in structuring,
       evaluating and effecting a Sale, identify potential
       acquirers and, at the Debtors request, contact and solicit
       potential acquirers; and

   (b) assist in the arranging and executing a Sale, including
       identifying potential buyers or parties in interest,
       assisting in the due diligence process, and negotiating
       the terms of any proposed Sale, as requested.

Perella will be paid as follows:

   (a) For so long as the Debtors has not commenced a case under
       the Bankruptcy Code, the Company shall pay Perella a
       monthly advisory fee (the "Monthly Fee") of $150,000, with
       the first two Monthly Fees paid upon execution of the
       Engagement Letter and additional installments of such
       Monthly Fee payable in advance of the first day of every
       month thereafter; provided, that 50% of the aggregate
       amount of Monthly Fees paid from and including the seventh
       Monthly Fee payable under the Engagement Letter shall be
       credited against and subtracted from the aggregate amount
       of all other fees payable under the Engagement letter;
       provided further that in no event shall any amount payable
       under Section 2(a) of the Engagement letter be refundable
       to the Company; plus

   (b) The Debtors shall pay Perella additional fees:

     (i) equal to 1% of the par value of any Obligations
         exchanged, refinanced, restructured or discharged (the
         "Restructuring Fee") payable (1) if the Debtors complete
         any Restructuring prior to or without commencing a case
         under chapter 11 of the Bankruptcy Code, upon
         consummation of such Restructuring or (2) if the Debtors
         commence a case under chapter 11 of the Bankruptcy Code,
         upon consummation of the plan in connection with such
         case that effects such Restructuring; provided, that in
         the event the Debtor contemplates filing a "pre-
         packaged" bankruptcy, then (x) 50% of such fee shall be
         payable on the successful conclusion of a solicitation
         of votes for a pre-packaged reorganization plan and (y)
         the remaining 50% shall be payable upon the consummation
         of the plan in connection with such case that effects
         such Restructuring; provided, that in the event the
         Debtors contemplate filing a "prearranged" bankruptcy,
         then (x) 50% of such fee will be payable upon the entry
         by the Debtors prior to the chapter 11 filing of a
         restructuring support agreement, lock up agreement or
         similar agreement with holders of at more than half in
         amount of the Debtors' outstanding bonds, provided,
         further, that such fee shall be returned by Perella to
         the Debtors if no Restructuring is ultimately
         consummated) and (y) the remaining 50% shall be payable
         upon the consummation of the plan in connection with
         such case that effects such Restructuring; plus

   (ii) a fee (the "Financing Fee") equal to (x) 1% of the gross
        cash proceeds of any debt Financing, (y) 4% of the gross
        cash proceeds of any Restructuring Related Equity Raise,
        as defined in the Engagement Letter, and (z) 4% of the
        gross cash proceeds of any equity or equity linked
        securities sold in any Financing consummated as part of
        any rights offering effected during the pendency of a
        chapter 11 reorganization or as part of the emergence
        therefrom, in each case payable upon the funding of such
        Financing; plus

   (iii) in the case of any Sale, a fee equal to 1% of the
         Transaction Value (as defined in the Engagement Letter)
        (the "Sale Fee"), payable upon consummation of such sale.

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

Kevin Cofsky, member of Perella Weinberg Partners LP, assured the
Court that the firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code and (a) are not
creditors, equity security holders or insiders of the Debtor; (b)
have not been, within two years before the date of the filing of
the Debtor's chapter 11 petition, directors, officers or employees
of the Debtor; and (c) do not have an interest materially adverse
to the interest of the estate or of any class of creditors or
equity security holders, by reason of any direct or indirect
relationship to, connection with, or interest in, the Debtor, or
for any other reason.

Perella can be reached at:

     Kevin Cofsky
     PERELLA WEINBERG PARTNERS LP
     767 Fifth Avenue
     New York, 10153
     Tel: (212) 287-3200
     Fax: (212) 287-3201

                   About Bonanza Creek Energy, Inc.

Bonanza Creek Energy, Inc. (NYSE: BCEI)
--http://www.bonanzacrk.com/-- is an independent oil and Natural
Gas Company engaged in the acquisition, exploration, development
and production of onshore oil and associated liquids-rich natural
gas in the U.S. The Company's assets and operations are
concentrated primarily in the Rocky Mountain region in the
Wattenberg Field, focused on the Niobrara and Codell formations,
and in southern Arkansas, focused on oily Cotton Valley sands.

As of Sept. 30, 2016, Bonanza had $1.22 billion in total assets,
$1.13 billion in total liabilities and $84.75 million in total
stockholders' equity.

On Jan. 4, 2017 Bonanza Creek Energy, Inc., and six affiliated
debtors each filed a voluntary petition for relief under Chapter 11
of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. Case No.
17-10015). The cases are pending before the Hon. Kevin J. Carey,
and the Debtors have requested joint administration of the cases.

Davis, Polk & Wardwell LLP is acting as legal counsel, Richards,
Layton & Finger, P.A., is acting as co-counsel, Perella Weinberg
Partners LP is acting as financial advisor, Alvarez & Marsal LLC is
acting as restructuring advisor and Prime Clerk LLC is acting as
notice, claims and solicitation agent to the Company in connection
with its restructuring efforts.

Kirkland & Ellis LLP serves as legal counsel and Evercore Group
L.L.C. serves as financial advisor to the ad hoc committee of
holders of the Senior Notes.


BONANZA CREEK: Hires Prime Clerk as Administrative Agent
--------------------------------------------------------
Bonanza Creek Energy, Inc., et al., seek authority from the U.S.
Bankruptcy Court for the District of Delaware to employ Prime Clerk
LLC as administrative agent to the Debtors.

Bonanza Creek requires Prime Clerk to:

   (a) assist with, among other things, solicitation, balloting
       and tabulation of votes, and preparing any related
       reports, as required in support of confirmation of a
       chapter 11 plan, and in connection with such services,
       processing requests for documents from parties in
       interest, including, if applicable, brokerage firms, bank
       back-offices, and institutional holders;

   (b) prepare an official ballot certification and, if
       necessary, testifying in support of the ballot tabulation
       results;

   (c) assist with the preparation of the Debtors' schedules of
       assets and liabilities and statements of financial affairs
       and gathering data in conjunction therewith;

   (d) provide a confidential data room, if requested;

   (e) manage and coordinating any distributions pursuant to a
       chapter 11 plan; and

   (f) provide such other processing, solicitation, balloting and
       administrative services described in the Services
       Agreement, but not included in the Section 156(c)
       Application, as may be requested from time to time by the
       Debtors, the Court, or the Office of the Clerk of the
       Bankruptcy Court.

Prime Clerk will be paid at these hourly rates:

     Analyst                              $25-$45
     Technology Consultant                $35-$70
     Consultant/Senior Consultant         $70-$150
     Director                             $160-$185
     Solicitation Consultant              $180
     COO and Executive Vice President     No charge

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

Michael J. Frishberg, member of Prime Clerk LLC, assured the Court
that the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code and (a) are not creditors,
equity security holders or insiders of the Debtor; (b) have not
been, within two years before the date of the filing of the
Debtor's chapter 11 petition, directors, officers or employees of
the Debtor; and (c) do not have an interest materially adverse to
the interest of the estate or of any class of creditors or equity
security holders, by reason of any direct or indirect relationship
to, connection with, or interest in, the Debtor, or for any other
reason.

Prime Clerk can be reached at:

     Michael J. Frishberg
     Prime Clerk LLC
     830 3rd Avenue, 9th Floor
     New York, NY 10022
     Phone: (212) 257-5450

                   About Bonanza Creek Energy, Inc.

Bonanza Creek Energy, Inc. (NYSE: BCEI)
--http://www.bonanzacrk.com/-- is an independent oil and Natural
Gas Company engaged in the acquisition, exploration, development
and production of onshore oil and associated liquids-rich natural
gas in the U.S. The Company's assets and operations are
concentrated primarily in the Rocky Mountain region in the
Wattenberg Field, focused on the Niobrara and Codell formations,
and in southern Arkansas, focused on oily Cotton Valley sands.

As of Sept. 30, 2016, Bonanza had $1.22 billion in total assets,
$1.13 billion in total liabilities and $84.75 million in total
stockholders' equity.

On Jan. 4, 2017 Bonanza Creek Energy, Inc., and six affiliated
debtors each filed a voluntary petition for relief under Chapter 11
of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. Case No.
17-10015). The cases are pending before the Hon. Kevin J. Carey,
and the Debtors have requested joint administration of the cases.

Davis, Polk & Wardwell LLP is acting as legal counsel, Richards,
Layton & Finger, P.A., is acting as co-counsel, Perella Weinberg
Partners LP is acting as financial advisor, Alvarez & Marsal LLC is
acting as restructuring advisor and Prime Clerk LLC is acting as
notice, claims and solicitation agent to the Company in connection
with its restructuring efforts.

Kirkland & Ellis LLP serves as legal counsel and Evercore Group
L.L.C. serves as financial advisor to the ad hoc committee of
holders of the Senior Notes.


BONANZA CREEK: Hires Richard Layton as Co-counsel
-------------------------------------------------
Bonanza Creek Energy, Inc., et al., seek authority from the U.S.
Bankruptcy Court for the District of Delaware to employ Richard
Layton & Finger, P.A. as co-counsel to the Debtors.

Bonanza Creek requires Richard Layton to:

   a) advise the Debtors of their rights, powers and duties as
      debtors and debtors in possession under chapter 11 of the
      Bankruptcy Code;

   b) take action to protect and preserve the Debtors' estates,
      including the prosecution of actions on the Debtors'
      behalf, the defense of actions commenced against the
      Debtors in these chapter 11 cases, the negotiation of
      disputes in which the Debtors are involved and the
      preparation of objections to claims filed against the
      Debtors;

   c) assist in preparing on behalf of the Debtors all motions,
      applications, answers, orders, reports and papers in
      connection with the administration of the Debtors' estates;

   d) prosecute on behalf of the Debtors the Prepackaged Plan and
      seeking approval of all transactions contemplated therein
      and in any amendments thereto;

   e) perform other necessary or desirable legal services in
      connection with the chapter 11 cases; and

   f) in addition to those services set forth in paragraphs 6(a)
      through 6(e), Richard Layton may perform all other services
      assigned by the Debtors, in consultation with Davis Polk &
      Wardwell LLP, to Richard Layton as co-counsel to the
      Debtors. To the extent Richard Layton determines that such
      services fall outside of the scope of services historically
      or generally performed by Richard Layton as co-counsel in a
      bankruptcy case, Richard Layton will file a supplemental
      declaration.

Richard Layton will be paid at these hourly rates:

     Partners                          $660- $900
     Counsel                           $560-$575
     Associates                        $320-$550
     Paraprofessionals                 $250

Richard Layton will be paid a retainer in the amount of $150,000.

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

Mark D. Collins, member of , Richard Layton & Finger, P.A., assured
the Court that the firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code and (a) are not
creditors, equity security holders or insiders of the Debtor; (b)
have not been, within two years before the date of the filing of
the Debtor's chapter 11 petition, directors, officers or employees
of the Debtor; and (c) do not have an interest materially adverse
to the interest of the estate or of any class of creditors or
equity security holders, by reason of any direct or indirect
relationship to, connection with, or interest in, the Debtor, or
for any other reason.

Richard Layton can be reached at:

     Mark D. Collins, Esq.
     RICHARD LAYTON & FINGER, P.A.
     920 North King Street
     Wilmington, Delaware 19801
     Tel: (302) 651-7700
     Fax: (302) 651-7701
     E-mail: collins@rlf.com

                   About Bonanza Creek Energy, Inc.

Bonanza Creek Energy, Inc. (NYSE: BCEI)
--http://www.bonanzacrk.com/-- is an independent oil and Natural
Gas Company engaged in the acquisition, exploration, development
and production of onshore oil and associated liquids-rich natural
gas in the U.S. The Company's assets and operations are
concentrated primarily in the Rocky Mountain region in the
Wattenberg Field, focused on the Niobrara and Codell formations,
and in southern Arkansas, focused on oily Cotton Valley sands.

As of Sept. 30, 2016, Bonanza had $1.22 billion in total assets,
$1.13 billion in total liabilities and $84.75 million in total
stockholders' equity.

On Jan. 4, 2017 Bonanza Creek Energy, Inc., and six affiliated
debtors each filed a voluntary petition for relief under Chapter 11
of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. Case No.
17-10015). The cases are pending before the Hon. Kevin J. Carey,
and the Debtors have requested joint administration of the cases.

Davis, Polk & Wardwell LLP is acting as legal counsel, Richards,
Layton & Finger, P.A., is acting as co-counsel, Perella Weinberg
Partners LP is acting as financial advisor, Alvarez & Marsal LLC is
acting as restructuring advisor and Prime Clerk LLC is acting as
notice, claims and solicitation agent to the Company in connection
with its restructuring efforts.

Kirkland & Ellis LLP serves as legal counsel and Evercore Group
L.L.C. serves as financial advisor to the ad hoc committee of
holders of the Senior Notes.



BUFFETS LLC: Has Until March 10 to Solicit Plan Acceptances
-----------------------------------------------------------
Judge Ronald B. King of the U.S. Bankruptcy Court for the Western
District of Texas extended the exclusive period during which
Buffets, LLC and its affiliated Debtors may solicit acceptances of
a Chapter 11 plan through and including March 10, 2017.

The Troubled Company Reporter had earlier reported that the Debtors
filed a disclosure statement and plan on September 30, 2016, within
the extended exclusivity period previously ordered by the Court.  


The TCR has also reported that the Debtors sought for exclusivity
extension relating that during a November 30, 2016 mediation led by
the Hon. Leif Clark, they had reached an agreement with the
official committee of unsecured creditors as to general terms of a
compromise to resolve their disputes regarding the Debtors' efforts
to reorganize.  

The Debtors and the Committee had been in discussions regarding
reorganization of the Debtors since the conclusion of the Mediation
and continued to work toward a mutually agreeable Plan that also
meaningfully addresses the concerns of other important
stakeholders in these Cases.

These discussions had been ongoing for months and appear to be
close to a conclusion, however, given the timing of the Mediation
and the intervening holidays, the Debtors, the Committee and other
parties needed additional time to reach consensus on specific terms
of a plan of reorganization.

                          About Buffets LLC

Buffets LLC, et al., are one of the largest operators of
buffet-style restaurants in the U.S.  The buffet restaurants,
located in 25 states, principally operate under the names Old
Country  Buffet(R), Country Buffet(R), HomeTown(R) Buffet,
Ryan's(R) and Fire Mountain(R).  These locations primarily offer
self-service buffets with entrees, sides, and desserts for an
all-inclusive price.  In addition, Buffets owns and operates an
10-unit full service, casual dining chain under the name Tahoe
Joe's Famous Steakhouse(R).

Buffets Holdings, Inc., filed for Chapter 11 relief in January 2008
and won confirmation of a reorganization plan in April 2009. In
January 2012, Buffets again sought Chapter 11 protection and
emerged from bankruptcy in July 2012.

On Aug. 19, 2015, Alamo Ovation, LLC acquired Buffets Restaurants
Holdings, Inc., and as a result of the merger, Buffets operated
over 300 restaurants in 35 states.

Down to 150 restaurants in 25 states after closing unprofitable
locations, Buffets LLC and its affiliated entities sought Chapter
11 protection (Bankr. W.D. Tex. Case No. Lead Case No. 16-50557) in
San Antonio, Texas, on March 7, 2016.  The cases are assigned to
Judge Ronald B. King.

The Debtors have tapped Akerman, LLP, as counsel, Bridgepoint
Consulting, LLC as financial advisor and Donlin, Recano & Company
as claims and noticing agent.

The U.S. Trustee on March 21, 2016, appointed Van Eerden
Foodservice Company, Heather Gage, Bryce King, Realty Income
Corporation, Windstream, Automatic Data Processing, Inc., and
Edward Don & Company as members of the Official Committee of
Unsecured Creditors.  The Committee appointed Greenberg Traurig,
LLP as counsel.


BURCON NUTRASCIENCE: Large Scale Reports 16.8% Equity Stake
-----------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, Large Scale Investments Limited disclosed that as of
Jan. 16, 2017, it beneficially owns 6,480,090 common shares of
Burcon NutraScience Corporation representing 16.8 percent of the
shares outstanding.  Great Intelligence Limited reported beneficial
ownership of 2,112,847 common shares while ITC Corporation Limited
reported beneficial ownership of 8,592,937 common shares.  A
full-text copy of the regulatory filing is available for free at
https://is.gd/Ntpqjd

                    About Burcon NutraScience        

Headquartered in Vancouver, Canada, Burcon NutraScience
Corporation has developed a portfolio of composition, application,
and process patents originating from its core protein extraction
and purification technology.  The Company's patented processes
utilize inexpensive oilseed meals and other plant-based sources
for the production of purified plant proteins that exhibit certain
nutritional, functional and nutraceutical profiles.

Burcon NutraScience reported a net loss of C$6.56 million on
C$106,390 of revenue for the year ended March 31, 2016, compared to
a net loss of C$6.57 million on C$105,387 of revenue for the year
ended March 31, 2015.

As of Sept. 30, 2016, Burcon Nutrascience had C$3.86 million in
total assets, C$2.48 million in total liabilities and C$1.38
million in shareholders' equity.

In its annual report on Form 20-F for the fiscal year ended
March 31, 2016, the Company said that as at March 31, 2016, it had
minimal revenues from its technology, had an accumulated deficit of
$77,550,164 (2015 - $70,980,388).  During the year ended
March 31, 2016, the Company incurred a loss of $6,569,776 (2015 -
$6,579,424; 2014 - $5,961,545) and had negative cash flow from
operations of $4,883,575 (2015 - $4,819,743; 2014 - $4,952,221).
The Company has relied on equity financings, private placements,
rights offerings and other equity transactions to provide the
financing necessary to undertake its research and development
activities.  As at March 31, 2016, the Company had cash and cash
equivalents of $2,479,862 (2015 - $2,400,965) and short-term
investments of $nil (2015 - $1,266,600).  These conditions
indicate existence of a material uncertainty that casts substantial
doubt about the ability of the Company to meet its obligations as
they become due and, accordingly, its ability to continue as a
going concern.

The Company said its ability to continue as a going concern is
dependent upon the Company raising additional capital.  On May 12,
2016, the Company completed a convertible note financing for
$2,000,000, with net proceeds of approximately $1,934,000.
Although the Company expects to receive royalty revenues from its
license and production agreement (Soy Agreement) with Archer
Daniels Midland Company from the sales of CLARISOY(TM), the amount
of royalty revenues cannot be ascertained at this time.  Burcon
expects the amount of royalty revenues from the sales of
CLARISOY(TM) will not reach its full potential until such time
production is expanded to one or more full-scale commercial
facilities.


CAESARS ENTERTAINMENT: S&P Puts 'D' CCR on CreditWatch Positive
---------------------------------------------------------------
S&P Global Ratings placed its ratings on Caesars Entertainment
Corp. (CZR) (including subsidiary Caesars Entertainment Resort
Properties LLC; CERP) and Chester Downs and Marina LLC on
CreditWatch with positive implications.  S&P also revised the
CreditWatch implications on its rating on Caesars Growth Properties
Parent LLC (CGPP) to positive from negative.

S&P's rating on Caesars Entertainment Operating Co. Inc. (CEOC),
which is in Chapter 11 bankruptcy, remains 'D'.  S&P also
discontinued its 'D' ratings on CEOC's debt because S&P is unlikely
to raise these ratings in the future since this debt will be
refinanced with new debt CEOC plans to raise over the near term as
part of its emergence from bankruptcy.

"The positive CreditWatch listings reflect bankruptcy court
confirmation and lender support of the restructuring plan that
would put in place a long-term capital structure that we believe is
more sustainable by reducing consolidated debt levels by roughly
$10 billion," said S&P Global credit analyst Ariel Silverberg.  "In
addition, we believe it is now unlikely that CZR, CERP, CGPP, or
Chester Downs will be pulled into a restructuring as a result of
the ongoing bankruptcy of CEOC, CZR's largest and most leveraged
subsidiary," she added.

Furthermore, the reorganization plan would eliminate existing
litigation risk relating to the release of the parent guarantee and
various asset transfer and financing transactions as the
petitioners have agreed to dismiss these claims as part of the
plan.  CZR agreed to contribute approximately $5 billion to the
restructuring, including proceeds from the sale of Caesars
Interactive's social and mobile games business in September 2016
and a dilution of the sponsors' equity ownership in CZR, which
largely addresses the potential damages that had been cited in the
examiner's report resulting from the various contested
transactions.

In resolving the CreditWatch listing, S&P plans to analyze the
planned post-emergence organizational and capital structure, which
could result in a favorable reassessment of the consolidated credit
profile of, and higher ratings on, the new Caesars Entertainment,
including CEOC's gaming operations, CERP, Caesars Growth, and
Chester Downs.  S&P will monitor the company's progress toward a
CEOC emergence from bankruptcy, including its progress toward
completing the various financing transactions needed for emergence
as well as its progress in securing the required regulatory
approvals.  Once S&P can confidently conclude that CEOC will
successfully emerge as outlined, S&P will likely raise the
corporate credit rating several notches into the 'B' rating
category.



CASABLANCA INT'L: Moody's Assigns B3 Corporate Family Rating
------------------------------------------------------------
Moody's Investors Service assigned Casablanca International
Holdings Limited (dba Apple Leisure Group) a Corporate Family
Rating (CFR) at B3 and a Probability of Default Rating at B3-PD. At
the same time, Moody's rated Casablanca US Holdings Inc.'s ("US
Borrower") $125 million senior secured first lien revolving credit
facility at B2, $600 million senior secured first lien term loan at
B2, and $225 million senior secured second lien term loan at Caa2.
The rating outlook is stable.

The following ratings are assigned:

Issuer: Casablanca International Holdings Limited

-- Corporate Family Rating at B3

-- Probability of Default Rating at B3-PD

-- Outlook at Stable

Issuer: Casablanca US Holdings Inc.

-- $125 million backed senior secured first lien revolving credit
facility due 2022 at B2 (LGD3)

-- $600 million backed senior secured first lien term loan due
2024 at B2 (LGD3)

-- $225 million backed senior secured second lien term loan due
2025 at Caa2 (LGD5)

Casablanca International Holdings Limited is a newly created
company formed in connection with the acquisition of the operating
subsidiaries of Apple Leisure Group by Kohlberg Kravis Roberts &
Co. L.P. ("KKR") and KSL Capital Partners IV, LP ("KSL") along with
certain other investors (the management and founders). ALG B.V. is
the intermediate parent company of all of the operating
subsidiaries of Apple Leisure Group (except Unlimited Vacation
Club). At the time of the closing of the acquisition, the bank
credit facilities at ALG B.V. will be repaid in full and the
ratings associated with those facilities will be withdrawn.

The following ratings remain unchanged and will be withdrawn upon
the closing of the transaction and the repayment in full of the
existing bank credit facilities:

Issuer: ALG B.V.

-- Corporate Family Rating of B2

-- Probability of Default Rating of B2-PD

-- Senior secured first lien bank credit facilities at B1 (LGD3)

-- Senior secured second lien bank credit facilities at Caa1
(LGD5)

ALG B.V.'s Corporate Family Rating and Probability of Default
Rating remain on review for downgrade.

Holdings, US Borrower, and Casablanca Foreign Holdings Limited
("Foreign Borrower") together operate under the business name Apple
Leisure Group. For purposes of the credit discussion, they combined
entities will be referred to collectively as "Apple Leisure
Group".

RATINGS RATIONALE

Apple Leisure Group's B3 Corporate Family Rating reflects the very
high debt levels associated with its acquisition by KKR and KSL.
Following the acquisition, Apple Leisure Group will have $825
million of funded debt which results an initial very high leverage
whether evaluated using an EBITDA basis or a free cash flow basis.
It also reflects Apple Leisure Group's very small scale in terms of
number of resorts, its geographic concentration in Mexico and the
Caribbean, its low operating margins and its heavy reliance on
contract sales at its Unlimited Vacation Club ("UVC") to generate
the large majority of its free cash flow. Positive ratings
consideration was given to Apple Leisure Group's good liquidity,
low capital requirements, and vertically integrated business model.
Moody's believes that Apple Leisure Group's low capital
requirements and vertically integrated business model mitigate, to
some degree, the earnings volatility that are experienced during
periods of weak demand.

Apple Leisure Group's initial credit metrics will be very weak.
Moody's estimates debt to EBITDA pro forma for the transaction and
using a GAAP based EBITDA (which includes the substantial operating
losses at its UVC subsidiary) for the year ended December 31, 2016
is 22.8x. Moody's estimates using Apple Leisure Group's, cash based
EBITDA (which adjusts EBITDA for the deferred revenue and deferred
costs associated with the UVC contract sold) for the year ended
December 31, 2016 is 6.8x. Pro forma for the transaction for the
year ended December 31, 2016, FCF to debt is 5.4%. Moody's believes
FCF to debt is the best estimate of Apple Leisure Group's leverage
as it picks up the the change in drerred revenue and deferred costs
related to the contracts sold by UVC. In addition, the deposits
paid at the time of purchase are typically non-refundable after one
month following the signing of the contract.

In the fourth quarter of 2016 and the first quarter of 2017, Apple
Leisure Group opened 9 resorts which supports a growth in EBITDA
and free cash flow in 2017. In addition, the new resort openings
provides Apple Leisure Group with a higher level of guests to
market its UVC contract program. The B3 rating is supported by
Moody's expectation that credit metrics will improve in 2017.
Moody's estimates that GAAP based debt to EBITDA will remain over
20x and FCF to debt will be 8.3%. Moody's calculates the "cash
basis" debt to EBITDA (using Apple Leisure Group's estimates of
"cash based" EBITDA) will be 5.5x.

The stable outlook reflects Apple Leisure Group's good liquidity
and Moody's expectation that the new resort openings should drive
growth in free cash flow generation and an improvement in free cash
flow to debt in 2017.

US Borrower and Foreign Borrower are co-borrowers under the senior
secured first lien revolver, senior secured first lien term loan,
and senior secured second lien term loan. The guarantors include:
Holdings (the entity which will be providing the audited financial
statements going forward), Casablanca International Intermediate
Holdings Limited (direct parent of US Borrower and Foreign
Borrower), the US operating subsidiaries, and the foreign
subsidiaries incorporated in the Cayman Islands, Nevis, and the
Netherlands. The B2 rating on the first lien credit facilities is
one notch higher than the Corporate Family Rating (B3). The one
notch difference reflects their senior position to the $225 million
second lien term loan. The second lien term loan is rated Caa2
reflecting its junior position in the capital structure behind the
$125 million first lien revolver and $600 million first lien term
loan.

Ratings could be upgraded should Apple Leisure Group be able to
maintain free cash flow to debt above 10% while maintaining good
liquidity, break even to positive growth in Revenue Per Available
Room and growth in the number of UVC contracts sold year over
year.

Ratings could be downgraded should free cash flow to debt fall
below 3%, should its liquidity profile become weak, or should the
number of contracts sold decline below 2016 levels (about 16,500
contracts).

Casablanca International Holdings Limited is an intermediary
holding company who is the indirect parent of Casablanca US
Holdings Inc. and Casablanca Foreign Holdings Limited (the
co-borrowers under the rated bank facilities). It does business
under the name Apple Leisure Group. Its primary operating
subsidiaries are Apple Vacations, AMStar, AMResorts, and Unlimited
Vacation Club. Apple Vacations sells wholesale and retail vacation
travel packages to the Caribbean, Mexico, Hawaii, and Europe
through three business units under the brand names "Apple
Vacations", "Travel Impressions" and "Cheap Caribbean". AMSTAR
provides optional tours, and ground transportation services in
Hawaii, the Caribbean and Mexico. AMResorts manages 52
all-inclusive resorts located in Mexico and the Caribbean.
Unlimited Vacation Club sells memberships which that primarily
provides discounted pricing on future resort stays. Annual revenues
are about $2.4 billion.

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


CATHAY GENERAL: Fitch Affirms BB+ IDR; Outlook Still Positive
-------------------------------------------------------------
Fitch Ratings has affirmed Cathay General Bancorp's (CATY) and its
principal subsidiary Cathay Bank's long-term Issuer Default Ratings
(IDRs) at 'BB+' and Viability Ratings (VRs) at 'bb+'. The Rating
Outlook remains Positive. A full list of rating actions follows at
the end of this press release.

The rating action follows a periodic review of the midtier regional
banking group, which includes BankUnited Inc. (BKU), BOK Financial
Corp. (BOKF), Cathay General Bancorp (CATY), East West Bancorp
(EWBC), First Republic Bank (FRC), First Horizon National Corp.
(FHN), First National of Nebraska Inc. (FNNI), Fulton Financial
Corp. (FULT), Hilltop Holdings, Inc. (HTH), Synovus Financial Corp.
(SNV), TCF Financial Corp. (TCB), Trustmark Corp. (TRMK), UMB
Financial Corp. (UMBF) and Wintrust Financial Corp. (WTFC).

Company-specific rating rationales for the other banks are
published separately, and for further discussion of the midtier
regional bank sector in general, refer to the special report titled
'US Banks: Midtier Regional Bank Periodic Review,' to be published
shortly.

KEY RATING DRIVERS

VR AND IDRS
The rating affirmation incorporates CATY's asset quality
improvements, continued strong earnings performance and solid
capital position. The Positive Outlook reflects the possibility of
upward rating movement if CATY's capital levels, earnings
performance and risk profile remain in line with or exceed Fitch
expectations (see Rating Sensitivities).

Asset quality metrics showed improvement over the year with CATY
continuing to demonstrate the ability to work out of problem loans
at nominal loss. Fitch calculates NPAs (including accruing
restructured loans) at 1.38% of loans and foreclosed real estate as
of 3Q16. This is an 18bp improvement over the year prior, while the
net charge-off rate for the year-to-date as of September 2016
remained low at 7bps. CATY's NPAs are now in line with the median
for the peer group.

CATY's capital ratios remain in the top-quartile of the Fitch
midtier regional peer group as of 3Q16. Over the last year, CATY
has optimized its capital levels by distributing excess capital to
shareholders in the form of share repurchases and dividends. This
resulted in a modest reduction in risk-based capital ratios. High
loan growth levels were partially offset by good levels of earnings
generation. Nearly half of CATY's loan growth over the last year
was in residential mortgages. These loans carry a relatively low
risk-weight of 50%, which further supported risk-based capital
ratios.

In July 2016, CATY announced plans to acquire SinoPac Bancorp
(SinoPac), the bank holding company of Far East National Bank
(FENB). Fitch views the transaction as financially compelling for
CATY as reflected in zero goodwill creation and significant cost
savings that are expected to be derived from the complementary
business models, similar loan and deposit portfolios and
overlapping branch footprint in California. As of 3Q16, SinoPac had
approximately $1.3 billion in assets and $981 million in deposits.
Fitch considers this a material acquisition, and CATY will have to
demonstrate successful integration for the Outlook to remain
Positive or resolve to Stable.

The transaction furthers CATY's objective of deploying excess
capital and the 90% cash deal is expected to result in roughly
100bps reduction in CATY's CET 1 capital ratio. CATY expects the
transaction to close in the first half of 2017 and has suspended
share repurchases since the announcement of the transaction. Fitch
expects CATY to manage capital conservatively following this
acquisition.

Conservative capital management and solid capital formation has
been the driver of positive ratings momentum for CATY. Fitch views
CATY's relatively high capital levels as a necessary offset for its
concentrated loan portfolio. CATY's concentration in Commercial
Real Estate (CRE) as defined by regulators stood at 291% of
risk-based capital at 3Q16 and will most likely cross the 300%
threshold in coming months. Fitch has market-wide concerns about
current CRE valuations with capitalization rates at cyclical lows.
These concerns are somewhat offset by CATY's strong track record in
CRE lending.

Construction loans were a driver of credit losses for the bank
during the financial crisis. These loans are now less prominent in
CATY's loan portfolio accounting for 6% of total loans as of 3Q16
compared to 16% in 2007. CATY's construction loan balances have
grown by nearly 30% per annum over the last three years. While off
a low base, Fitch views this growth negatively from a risk appetite
and loan portfolio credit risk standpoint.

In 2016 earnings performance continued to provide support for the
Positive Outlook. CATY has remained one of the most efficient banks
in the peer group and reported a ROAA of 1.29% over the first nine
months of 2016.

Going forward, Fitch considers CATY's strong earnings to be
somewhat constrained by its lack of revenue diversity and a
relatively high reliance on time deposits compared to peer banks in
the group. This funding profile results in revenue that could be
more susceptible to interest rate risk in a rising rate
environment. However, relatively expensive repo funding instruments
that mature in 2017 are expected to provide some relief to funding
costs over the near term.

CATY's earnings have benefited from provision releases over the
last three years. The company established a large loan loss
allowance after the 2008 to 2009 financial crisis. Since the
downturn, lower NPAs and strong recoveries with limited charge-offs
have resulted in CATY keeping the reserve's coverage of both loans
and NPLs high relative to peers. Fitch expects that CATY will start
recognizing provisions in 2017, which could place negative pressure
on earnings.

LONG-TERM AND SHORT TERM DEPOSIT RATINGS
CATY's uninsured deposit ratings are rated one notch higher than
the company's IDR, because U.S. uninsured deposits benefit from
depositor preference. U.S. depositor preference gives deposit
liabilities superior recovery prospects in the event of default.

SUPPORT RATING AND SUPPORT RATING FLOOR
CATY has a Support Rating of '5' and Support Rating Floor of 'NF'.
In Fitch's view, CATY is not systemically important and therefore,
the probability of support is unlikely. IDRs and VRs do not
incorporate any support.

HOLDING COMPANY
CATY's IDR and VR are equalized with those of its bank, reflecting
its role as the bank holding company, which is mandated in the U.S.
to act as a source of strength for its bank subsidiary. Ratings are
currently equalized reflecting the very close correlation between
holding company and subsidiary failure and default probabilities.

RATING SENSITIVITIES

VR and IDRS

The Rating Outlook remains Positive, reflecting Fitch's view of the
likelihood of ratings upside over the Outlook horizon.

Positive rating action may occur if CATY maintains its CET 1 and
tangible common equity ratios at or near the top-quartile of the
Fitch midtier regional peer group and earnings remain better than
the median for the peer group as measured by the ROAA. Conversely,
the Outlook may be revised to Stable if earnings as measured by
ROAA drops below the midtier median for any future 12-month
lookback period or capital is managed more aggressively with the
CET 1 capital ratio dropping below the Fitch midtier median.

The Positive Outlook incorporates incremental deterioration in
asset quality although such deterioration should not exceed
investment grade peers. Evidence of deterioration in the
construction loan portfolio or a shift in CATY's risk profile
through continued significant and outsized growth in higher risk
loan categories such as construction loans could also put downward
pressure on the rating or Outlook.

Should CATY revive growth in its C&I portfolio by venturing into
new products and sectors, this growth will be considered unproven
and would require some seasoning before Fitch can become
comfortable with underwriting of such loans. Accordingly, Fitch
would expect CATY to grow the C&I portfolio at a gradual rate such
that organic growth from the C&I portfolio is below the overall
loan growth rate. Double-digit organic growth in gross loans may
also put negative pressure on the Outlook.

Finally, subject to the successful completion and integration of
FENB, the rating also factors in the possibility of further merger
and acquisition (M&A) activity by CATY. Such consolidation activity
will not be viewed negatively should it result in diversification
of CATY's loan portfolio, strengthening of the franchise and remain
within CATY's area of expertise, presuming there are not material
execution and integrations risks, or an outsized decline in capital
ratios.

LONG- AND SHORT-TERM DEPOSIT RATINGS
The long-and short-term deposit ratings are sensitive to any change
to CATY's long- and short-term IDRs.

SUPPORT RATING AND SUPPORT RATING FLOOR
CATY's Support Rating and Support Rating Floor is '5' and 'NF',
respectively, and therefore there is limited likelihood that these
ratings will change over the foreseeable future.

HOLDING COMPANY

Fitch views CATY's current holding company liquidity profile as
relatively weaker than peers in the group. This reflects inadequate
cash flow coverage of the next twelve month operating obligations
as of Sept. 30 2016. Should CATY's holding company liquidity
profile or double leverage deteriorate following the pending FENB
acquisition, Fitch may consider notching the holding company IDR
and VR down once from the ratings of the operating entity.

Fitch has affirmed the following ratings:

Cathay General Bancorp
-- Long-term IDR at 'BB+'; Outlook Positive;
-- Short-term IDR at 'B';
-- Viability Rating at 'bb+';
-- Support Rating at '5';
-- Support Floor at 'NF'.

Cathay Bank
-- Long-term IDR at 'BB+'; Outlook Positive;
-- Long-term deposit rating at 'BBB-';
-- Short-term IDR at 'B';
-- Short-term deposit rating at 'F3';
-- Viability Rating at 'bb+';
-- Support Rating at '5';
-- Support Floor at 'NF'.


CHANGE HEALTHCARE: S&P Assigns 'B+' CCR; Outlook Stable
-------------------------------------------------------
S&P Global Ratings assigned its 'B+' corporate credit rating to
Change Healthcare Holdings LLC.  The outlook is stable.

Change Healthcare has announced plans to combine a majority of
McKesson's Technology Solutions (MTS) business with substantially
all of Change Healthcare Inc. (legacy Change Healthcare) to form a
joint venture with the San Francisco-based drug distributor.  The
transaction is expected to close in the first half of 2017.

At the same time, S&P assigned its 'B+' issue-level rating and '3'
recovery rating to the company's $5.365 billion first-lien credit
facility, consisting of a $500 million revolving credit facility
due 2022 and a $4.865 billion first-lien term loan due 2024.  The
'3' recovery rating indicates S&P's expectation of meaningful
(50%-70%; upper half of range) recovery for the first-lien debt
holders in the event of default.  S&P also assigned a 'B-'
issue-level rating and '6' recovery rating to the company's
$1.235 billion senior unsecured notes due 2025.  The '6' recovery
rating indicates S&P's expectation of negligible (0%-10%) recovery
for the second-lien debtholders in the event of default.

"The rating on Change Healthcare incorporates our view of the
company's position as one of the leading HCIT companies in revenue
cycle management and value-based care services, with S&P-forecast
pro forma adjusted EBITDA of about $1 billion in fiscal 2018, high
recurring revenues, and a diverse customer base, offset by a highly
competitive and fragmented landscape," said S&P Global Ratings
credit analyst Geoffrey Wilson.  "The highly leveraged financial
risk profile incorporates our expectation of adjusted leverage in
the low 6x area in fiscal 2018."

Change Healthcare provides technology and information solutions
that facilitate communications among both commercial and
governmental health care payers, hospitals and other care
providers, and consumers.  The company's products span software and
analytics, network solutions, and technology-enabled services with
solutions developed to address revenue cycle management (RCM),
payment accuracy, value-based payments, electronic payment,
clinical decision management, and consumer engagement, among
others.  The MTS business from McKesson further establishes the
company's leading position in RCM workflow and analytics, with new
capabilities being contributed including value-based care services
and imaging and clinical workflow solutions.



CHAPARRAL ENERGY: Disclosure Statement Okayed
---------------------------------------------
Jeff Montgomery, writing for Bankruptcy Law360, reported that
Chaparral Energy Inc. got a green flag for its Chapter 11
disclosure and voting plan, potentially bringing the company into
the final turn of a more than $1.8 billion restructuring heavily
skewed toward swaps of lender notes for shares in Chaparral.  U.S.
Bankruptcy Judge Laurie Selber Silverstein ruled the company's
efforts suitable for a solicitation of creditor and shareholder
votes, with voting to end on February 27 and a plan confirmation
hearing scheduled for March 9.

On November 23, 2016, the Debtors filed a motion with the
Bankruptcy Court seeking authority to enter into a plan support
agreement with certain holders of the Company's senior notes and
certain lenders under the Company's Eighth Restated Credit
Agreement, dated as of April 12, 2010.  On December 14, the Court
issued an order approving the Plan Support Agreement of the Debtors
as requested in the PSA Motion.

On December 19, 2016, the Debtors filed their proposed chapter 11
plan of reorganization and related disclosure statement with the
Bankruptcy Court.  The hearing before the Bankruptcy Court seeking
approval of the disclosure statement was scheduled for January 24,
2017.

The Debtors' disclosure statement dated Jan. 23, 2017, referring to
their joint plan of reorganization, provides that Class 6 General
Unsecured Claims -- estimated at $4.5 million -- will recover 65%
under the Plan.  Each holder of an Allowed General Unsecured Claim
will receive, in full satisfaction,
settlement, discharge and release of, and in exchange for, the
claim, its pro rata share of the new equity interests pool.  In
addition, each holder will receive subscription rights to purchase
its pro rata share of the applicable rights offerings shares in
accordance with the applicable rights offerings procedures.
Notwithstanding the foregoing, if the holder of an Allowed General
Unsecured Claim makes the Convenience Class Election, then the
holder will receive, in full satisfaction, settlement, discharge
and release of, and in exchange for, the Allowed Class 6 Claim,
payment in cash equal to and capped at $100,000, and the holder
will not be entitled to receive new equity interests or to
participate in the rights offerings on account of the claim.

All cash necessary for the Debtors or the Reorganized Debtors, as
applicable, to make payments required pursuant to the Plan will be
obtained from their respective cash balances, including cash from
operations and the rights offerings.  The Debtors and the
Reorganized Debtors, as applicable, may also make the payments
using cash received from their subsidiaries through their
respective consolidated cash management systems and the incurrence
of intercompany transactions, but in all cases subject to the terms
and conditions of the restructuring documents.

The disclosure Statement is available at:

             http://bankrupt.com/misc/deb16-11144-764.pdf

As reported by the Troubled Company Reporter on Dec. 26, 2016, the
Debtors filed with the Court a disclosure statement for their joint
plan of reorganization, dated Dec. 19, 2016.  That plan
contemplated, among others, that each holder of an allowed general
unsecured claim receive its pro rata share of the new equity
interests pool and subscription rights to purchase its pro rata
share of the applicable rights offerings shares, unless the holder
makes the convenience class election.

                Chubb Companies Object to Plan Outline

ACE American Insurance Company, Federal Insurance Company, Great
Northern Insurance Company and Vigilant Insurance Company (the
"Chubb Companies") filed with the U.S. Bankruptcy Court for the
District of Delaware a limited objection to the disclosure
statement for the joint plan of reorganization for Chaparral
Energy, Inc. and its debtor-affiliates.

The Chubb Companies issued certain insurance policies to one or
more of the Debtors or their predecessors, as named insureds, prior
to the Petition Date, complained that they cannot determine how the
Debtors intend to treat the Chubb insurance program.  They ask that
the definition of D&O liability insurance policies should be
revised to, inter alia, clarify that it includes policies issued at
any time and any agreements, documents, or instruments related
thereto.  The Disclosure Statement and Plan should clearly provide
that nothing modifies, alters or impairs any insurance contract or
the D&O liability insurance policies.

A copy of the Approval Order for the Plan Support Agreement is
available at https://is.gd/BJiU9I

A copy of the Plan of Reorganization for Chaparral Energy Inc. and
its Affiliate Debtors is available at https://is.gd/UtmEgH

A copy of the Disclosure Statement for the Plan of Reorganization
is available at https://is.gd/MWTrbL

A copy of the Objection is available at:

           http://bankrupt.com/misc/deb16-11144-742.pdf

The Chubb Companies are represented by:

     Richard W. Riley, Esq.
     DUANE MORRIS LLP
     222 Delaware Avenue, Suite 1600
     Wilmington, DE 19801-1659
     Telephone: (302) 657-4900
     Facsimile: (302) 657-4901
     Email: rwriley@duanemorris.com

        -- and --

     Wendy M. Simkulak, Esq.
     Walter W. Gouldsbury III, Esq.
     DUANE MORRIS LLP
     30 South 17th Street
     Philadelphia, PA 19103-4196
     Telephone: (215) 979-1000
     Facsimile: (215) 979-1020

                About Chaparral Energy

Founded in 1988, Chaparral Energy, Inc., is a Delaware corporation
headquartered in Oklahoma City and a pure play Mid-Continent
independent oil and natural gas exploration and production
company.

At March 31, 2016, the Company had total assets of $1,229,373,000,
total current liabilities of $1,940,742,000 and total
stockholders' deficit of $759,546,000.

Chaparral Energy, Inc., and its 10 affiliates sought protection
under Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Lead Case
No. 16-11144) on May 9, 2016.  The petitions were signed by Mark
A. Fischer, chief executive officer.

The Debtors are represented by Richard Levy, Esq., Keith Simon,
Esq., David McElhoe, Esq., and Marc Zelina, Esq., at Latham &
Watkins LLP; and Mark D. Collins, Esq., at Richards, Layton &
Finger, P.A., as counsel.  Kurtzman Carson Consultants LLC
serves as administrative advisor.

The Debtors continue to manage and operate their businesses as
debtors in possession pursuant to Sections 1107 and 1108 of the
Bankruptcy Code. No trustee or examiner has been requested in
the Chapter 11 cases.

The Office of the U.S. Trustee on May 18, 2016, disclosed that no
official committee of unsecured creditors has been appointed in
the cases.

Milbank, Tweed, Hadley & McCloy LLP and Drinker Biddle & Reath LLP
represent an ad hoc committee of holders of (i) 9.875% Senior
Notes due 2020, (ii) 8.25% Senior Notes, and (iii) 7.625% Senior
Notes due 2022 issued by the Debtors.


CHIEF POWER: Moody's Lowers Rating on Sr. Secured Loan to B2
------------------------------------------------------------
Moody's Investors Service downgraded the rating for Chief Power
Finance, LLC's senior secured credit facilities to B2 from B1,
including its $344.8 million six-year term loan facility and its
$44 million five-year revolving credit facility. The rating outlook
is negative.

RATINGS RATIONALE

The rating downgrade to B2 from B1 for Chief Power reflects a
second year in a row of financial performance that is significantly
weaker than envisioned, and Moody's expectation of continued weak
financial results in the current year stemming from what Moody's
expect will be a prolonged environment of lower commodity prices.
The downgrade incorporates increased refinancing risk owing to
substantially lower excess cash flow generation so far versus what
was originally anticipated and Moody's belief that lower excess
cash flow generation will continue in light of current commodity
price curves. The rating also incorporates the recent and ongoing
implementation of management's performance measures such as
staffing reductions and delay of some major maintenance to contain
and reduce costs in efforts to improve the project's cash flow
position going forward. Although this is expected to help the
project's cash flow generation, it also highlights the project's
cumulative weak financial results and limited liquidity position.
The rating also considers Chief Power's weakened competitive
position in light of the low gas price environment.

A mitigating rating factor has been the project's receipt of PJM
capacity revenues which provide a high degree of cash flow
certainty for the next three years. That said, the project's
ability to repay indebtedness is highly dependent upon energy
margins which have been weak leading to no debt repayment other
than the required amortization. Moody's also observe that Chief
Power's capital structure is relatively conservative with debt per
kw approximating $252/kw (excluding the revolver balance) providing
some protection for lenders. Moody's also note that sponsor has
thus far provided support for the project either in the form of
equity contribution or additional liquidity which are viewed
positively for the rating.

The negative outlook reflects Moody's belief that continued credit
pressure may continue in light of sustained low energy prices owing
to low natural gas prices, new natural gas fired generation, and
tepid load demand. Chief Power's financial performance is highly
dependent upon first quarter results as the excess cash flow that
typically occurs provides liquidity to the project through the
remainder of the year reducing the needs for working capital
facility draws. As such, the inability of Chief Power to produce
first quarter cash flow that are on budget will place downward
pressure on the rating.

Given the negative outlook and expectation of a continued
environment of lower commodity prices, the rating is unlikely to be
upgraded. The outlook could stabilize if cash flow generation
during the winter months is stronger than budget signaling
sufficient liquidity available for the remainder of the year, and
if the May 2017 capacity auction results (for years 2020/2021) are
more favorable than anticipated.

The rating could be downgraded if near term financial results are
below current revised budget expectations owing to weaker than
expected market conditions or significantly increased expenses or
if the Chief Power plants were to experience prolonged operational
issues. Additionally, the rating could be downgraded if ongoing
cash flow generation and available liquidity are deemed
insufficient to cover ongoing operations, required major
maintenance and debt service payments.

The principal methodology used in these ratings was Power
Generation Projects published in December 2012.

Issuer Background

Chief Power Finance, LLC (Chief Power or the Project) is an
affiliate of ArcLight Energy Partners Fund V, LP, formed to fund
the acquisition of ownership interests in the Keystone and
Conemaugh coal-fired generating stations. The plants, which each
have a net base-load capacity of about 1,712 MW, are located
approximately 50 miles away from Pittsburgh in Western Pennsylvania
in the MAAC region of PJM. Initially, Chief Power acquired Exelon
Corporation's (Exelon: Baa2 stable) 1.2 GW interest in the
facilities for 41.98% (718 MW) of Keystone, and 31.28% (535 MW) of
Conemaugh. Subsequently, Chief Power also acquired Duquesne
Energy's 2.47% and 3.83% interest in Keystone and Conemaugh
respectively for a total ownership interest of 44.45% (761MW) in
Keystone and 35.11% (601MW) in Conemaugh.

The plants have multiple owners, Arclight, Public Service
Enterprise Group Incorporated (Baa2, POS), NRG Energy Inc (Ba3,
STA), Riverstone Holdings, LLC and UGI Corp), each with an
undivided interest. Operations are governed by an owner's committee
that provides direction to the operator (GenOn REMA, LLC). Chief
Power has the largest percentage ownership of each plant; however
decisions are made by a vote where there must be 75% agreement, or
the support of all but one of the owners. This means no one owner
can be large enough to block a vote. Chief Power's purchase of the
initial and additional undivided interests was funded with $351
million of term loan proceeds and approximately $175 million of
equity capital.


CIENA CORP: Moody's Hikes CFR to Ba3; Outlook Positive
------------------------------------------------------
Moody's Investors Service upgraded Ciena Corporation's corporate
family rating to Ba3 from B1. Moody's also assigned a Ba2 to the
company's proposed senior secured term loan. The new term loan and
balance sheet cash will be used to refinance Ciena's two existing
term loans. The ratings outlook is positive.

The upgrade of the CFR to Ba3 reflects Moody's expectations that
Ciena will reduce leverage by over 2x over the next two years while
growing revenue in the mid-single digits, modestly expanding profit
margins and maintaining a robust liquidity profile.

RATINGS RATIONALE

Ciena's Ba3 corporate family rating reflects a solid market
position in the approximately $13 billion fiber optic networking
sector. Moody's expects service providers will continue investing
to augment the capacity of their optical backbone networks in order
to drive down unit costs and create the economics/cost structure to
handle the growing amounts of IP traffic that they transport to and
from customers. With a solid market presence, good product
positioning and a broadening customer base, Ciena should benefit
from a market that Moody's anticipate will grow in the mid-single
digits over the next few years. Customer concentration and demand
volatility remain ongoing challenges, however, Moody's expects
Ciena will continue to improve its revenue diversification with
more enterprise and web-scale customers that will help to mitigate
these risks.

Ciena's profitability continues to improve through revenue growth
and cost containment, with adjusted EBITDA margins projected at
above 13% in 2017, up from 7% three years ago. Following the
conversion of a convertible debt instrument in March 2015 as well
as improved operating performance, adjusted debt to EBITDA has
declined to 4.3x as of October 2016 from 10.3x as of fiscal October
2014. In addition to $100 million of reduced term loan borrowings
after the refinancing, Moody's expects Ciena will repay the
remaining portion of its maturing convertible debt this June. Based
on current market demand conditions and Ciena's product
positioning, Moody's expects adjusted gross debt to EBITDA to
decline to below 3x over the next year with free cash flow to
adjusted gross debt approaching 20% over the next 18 months.

As a result of good demand in the optical transport market and
solid product positioning, Ciena has grown revenue in ten of the
last twelve quarters by an average of 8% while improving profit
margins steadily. Based on end user market demand and Ciena's
product architecture and portfolio that is well-aligned with that
demand, Moody's expects at least low to mid-single digit revenue
growth over the next year, stable gross margins in the mid 40%
range, and adjusted EBITDA margins around 13%. Ciena has a very
good liquidity profile with an SGL-1 Speculative Grade Liquidity
Rating. The company had $1.05 billion in cash and short term
investments as of October 2016. Moody's expects Ciena will generate
over $175 million of free cash flow over the next year, with
variation driven by working capital swings that are supported by a
$250 million secured, asset based lending facility that matures
December 2020. There were no borrowings under the facility as of
October 2016.

The Ba2 ratings on the senior secured first lien term loans reflect
their senior position in the capital structure relative to the
unsecured convertible notes in a default scenario. Moody's expects
Ciena will repay its 2017 senior unsecured convertible note
maturities in cash.. A one notch downward override has been applied
to the senior secured ratings reflecting the potential for further
reductions in the proportion of unsecured debt in the capital
structure given the convertible debt maturities over the next two
years.

The following rating was assigned:

$400 million senior secured term loan, Ba2, LGD2

The following ratings were upgraded:

Corporate Family Rating: to Ba3 from B1

Probability of default rating: to Ba3-PD from B1-PD

The following ratings were affirmed:

$250 million senior secured term loan, Ba2, LGD2*

$250 million senior secured term loan, Ba2, LGD2*

*These ratings will be withdrawn upon closing of the transaction

Speculative Grade Liquidity Rating: at SGL-1

Ratings outlook: positive

The positive outlook reflects Moody's expectations that Ciena's
operating performance will continue to improve, and that Ciena will
further reduce adjusted gross debt to EBITDA to below 3x, driven by
strong execution, good product positioning as well as the
likelihood of repaying or converting its convertible debt due
October 2018. The positive outlook also reflects Moody's
expectations that Ciena will be able to maintain and defend its
solid market position in the fiber optic market, growing revenue at
least in line with the industry.

The ratings could be upgraded if Ciena is likely to sustain revenue
growth and maintain EBITDA margins above 13%, while sustaining
adjusted gross debt to EBITDA below 3x and maintaining a good
liquidity profile.

The ratings could be lowered if there is a deterioration in
business fundamentals evidenced by revenue declines and EBITDA
margins falling below 10%. Additionally, adjusted debt to EBITDA
sustained above 4.5x times could pressure the rating.

The principal methodology used in these ratings was "Diversified
Technology Rating Methodology" published in December 2015.



CLAYTON WILLIAMS: Noble Energy Files Schedule 13D with SEC
----------------------------------------------------------
In a Schedule 13D filed with the Securities and Exchange
Commission, Noble Energy, Inc. disclosed that as of Jan. 13, 2017,
it may be deemed to beneficially own 14,497,015 shares of common
stock of Clayton Williams Energy, Inc. representing 74.4 percent of
the shares outstanding.

On Jan. 13, 2017, Noble Energy entered into an agreement and plan
of merger with CWEI, Wild West Merger Sub, Inc., an indirect wholly
owned subsidiary of Noble Energy, and NBL Permian LLC, an indirect
wholly owned subsidiary of Noble Energy, pursuant to which, among
other things, Noble Energy will acquire CWEI in exchange for a
combination of shares of common stock, par value $0.01 per share,
of Noble Energy and cash.

On Jan. 13, 2017, contemporaneously with the execution of the
Merger Agreement, (i) Noble Energy and certain CWEI stockholders
affiliated with Ares Management LLC entered into a Support
Agreement with respect to the Merger Agreement, (ii) Noble Energy
and Clayton W. Williams, Jr. entered into an Agreement Not To
Dissent, dated Jan. 13, 2017, with respect to the Merger Agreement
and (iii) Noble Energy and The Williams Children's Partnership Ltd.
entered into an Agreement Not To Dissent, dated Jan. 13, 2017, with
respect to the Merger Agreement.

Under the terms of the Merger Agreement, at the effective time of
the Merger, each CWEI Common Share issued and outstanding
immediately prior to the Effective Time and each unexercised
warrant to purchase or otherwise acquire CWEI Common Shares issued
and outstanding as of the Effective Time, will be cancelled and
extinguished and automatically converted into the right to receive,
at the election of the stockholder or warrant holder, as
applicable, and subject to proration, one of the following forms of
consideration:

   * for each CWEI Common Share, one of (i) 3.7222 Noble Energy
     Common Shares; (ii)(A) $34.75 in cash (subject to applicable
     withholding tax), without interest and (B) 2.7874 Noble
     Energy Common Shares; or (iii) $138.39 in cash (subject to
     applicable withholding tax), without interest; and
  
   * for each CWEI Warrant, one of (i) the Share Consideration in
     respect of the number of CWEI Common Shares that would be
     issued upon a cashless exercise of such CWEI Warrant
     immediately prior to the Effective Time; (ii) the Mixed
     Consideration in respect of the number of Warrant Notional
     Common Shares represented by such CWEI Warrant; or (iii) the
     Cash Consideration in respect of the number of Warrant
     Notional Common Shares represented by such CWEI Warrant.

The Merger Consideration is subject to proration so that the
aggregate Merger Consideration paid in respect of all CWEI Common
Shares and CWEI Warrants consists of 75% Noble Energy Common Shares
and 25% cash.  No fractional Noble Energy Common Shares will be
issued in the Merger, and holders of CWEI Common Shares will,
instead, receive cash in lieu of fractional Noble Energy Common
Shares, if any.  The implied value of the aggregate Merger
Consideration is $2.7 billion based on the per share closing
trading price of Noble Energy Common Shares on Jan. 13, 2017.

As of Jan. 23, 2017, Noble Energy does not own any CWEI Common
Shares.  However, as a result of the Relevant Agreements, the
Reporting Person may be deemed to have shared dispositive power
with respect to up to an aggregate of 14,497,015, and thus, for the
purpose of Rule 13d-3 promulgated under the Exchange Act, the
Reporting Person may be deemed to be the beneficial owner of an
aggregate of 14,497,015 shares.  The aggregate number of shares of
Issuer common stock covered by the Relevant Agreements (including
the 2,251,364 shares of Issuer common stock issuable pursuant to
the warrants held by the Ares Stockholders) represents
approximately 74.4% of the outstanding CWEI common stock.

A full-text copy of the regulatory filing is available at:

                     https://is.gd/Rg1IJ5

                    About Clayton Williams

Midland, Texas-based Clayton Williams Energy, Inc. is an
independent oil and gas company engaged in the exploration for and
production of oil and natural gas primarily in Texas and New
Mexico.  On Dec. 31, 2015, the Company's estimated proved reserves
were 46,569 MBOE, of which 78% were proved developed.  The
Company's portfolio of oil and natural gas reserves is weighted in
favor of oil, with approximately 83% of its proved reserves at Dec.
31, 2015, consisting of oil and natural gas liquids and
approximately 17% consisting of natural gas.  During 2015, the
Company added proved reserves of 3,542 MBOE through extensions and
discoveries, had downward revisions of 26,158 MBOE and had sales of
minerals-in-place of 472 MBOE.  The Company also had average net
production of 15.8 MBOE per day in 2015, which implies a reserve
life of approximately 8.1 years.

Clayton Williams reported a net loss of $98.2 million in 2015
following net income of $43.9 million in 2014.

As of Sept. 30, 2016, Clayton Williams had $1.43 billion in total
assets, $1.25 billion in total liabilities and $182.8 million in
stockholders' equity.

                          *     *     *

As reported by the TCR on Aug. 2, 2016, S&P Global Ratings affirmed
its 'CCC+' corporate credit rating on Clayton Williams Energy.  The
ratings reflect S&P's assessment that the company's debt leverage
is unsustainable, debt to EBITDA expected to average above 15x over
the next three years.  The ratings also reflect S&P's assessment of
liquidity as adequate.

The TCR reported on Jan. 19, 2017, that Moody's Investors Service
placed the ratings of Clayton Williams Energy, Inc. (Caa3) under
review for upgrade following the announcement of a definitive
agreement to be acquired by Noble Energy (Baa3 stable) in a
transaction valued at $3.2 billion, including the assumption of
Clayton Williams' approximately $500 million of net debt.  The
review for upgrade is based on the potential benefit of Clayton
Williams being supported by the stronger credit profile and greater
financial flexibility of Noble.


COMPCARE MEDICAL: Seeks Cash Access After Plan Rejected
-------------------------------------------------------
CompCare Medical Inc., filed an amended cash collateral motion,
seeking authority to use cash collateral through May 31, 2017.

The Debtor recounts that on Aug. 24, 2016, it filed a Motion to
Value Assets and Approve Use of Cash Collateral and Adequate
Protection, requesting use of the cash collateral through Dec. 31,
2016.  No response was received, and on Sept. 29, 2016, the Court
entered an order authorizing the interim use of cash collateral.
The Original Order authorized the use of the cash collateral until
November 1, 2016 and provided adequate protection to Bank of
America, N.A., the senior secured lien holder, with a replacement
lien equal to its September 2012 facility on all deposit accounts,
accounts receivable, and cash.

The Debtor filed a chapter 11 plan of reorganization and a
disclosure statement in support of that plan on Oct. 17, 2016. On
Dec. 8, 2016, the court entered its order denying approval of the
disclosure statement without prejudice.

The Debtor said it will be filing a second plan and a new
disclosure statement no later than Feb. 17, 2017.  The Debtor
anticipates that the new plan and disclosure statement will
adequately address the concerns of both the Court and the United
States Trustee.

The Debtor has six secured creditors holding UCC-1 liens on all of
Debtor's assets including cash, deposit accounts and accounts
receivable. Benton Declaration.  Those creditors in order of
seniority are:

   1. Bank of America N.A for loan number 9001 for $179,970;

   2. Bank of America, N.A. for loan number 6899 for $50,864;

   3. Bankers Healthcare group for $179,352;

   4. IOU Central, Inc. for approximately $80,192;

   5. Windset Capital Corp. for $61,760; and

   6. Forward Financing for approximately $39,945.

These debts total approximately $592,084.  The Debtor's total cash,
accounts receivable, and deposit accounts on the filing date
totaled approximately $114,487.

The Debtor is now asking that its use of cash collateral be
approved from the expiration of the prior order through and
including May 31, 2017 or such other date as the Court deems
appropriate under the same terms as the Original Order pursuant to
11 U.S.C. section 363(c)(2).

This will allow sufficient time for the confirmation process.
Bank of America will remain adequately protected by a continuance
of its replacement lien.  The Debtor is willing to provide all
secured creditors with replacement liens in the same priority and
validity as their liens on the Petition Date.  In the Original Cash
Collateral Motion, the Debtor had offered to make monthly payments
to Bank of America as adequate protection.

The Debtor remains willing to make adequate protections payments to
Bank of America if required by the Court.

If the Debtor is not allowed to use the cash collateral, Debtor
will either need to borrow money, making reorganization far less
likely or will have to cease operating, thus disrupting and
jeopardizing the health care of the Debtor's patients and resulting
in the unemployment of seven employees.

The Debtor proposes this monthly budget through May 31, 2017:

                                     Monthly
                                     -------
    Income:                          $90,000

    Expenses:
    Advertising                         $850
    Auto Expense                        $350
    Bank Charges                        $275
    Charitable Contributions            $100
    Computer and Software Support       $350
    Continuing Education                $400
    Disposal Fees                       $110
    Dues & Subscriptions                $115
    Insurance - Malpractice           $1,000
    Insurance - Employee & WC           $195
    Insurance - Life                    $110
    Insurance - General Office          $410
    Internet                             $30
    Janitorial                          $375
    Laboratory Fees                     $224
    License & Permits                    $24
    Meals and Entertainment              $50
    Medical Supplies & Equipment      $6,700
    Office Supplies                   $1,000
    Other Misc. Expenses              $1,000
    Outside Services                    $500
    Payroll & Taxes                  $40,000
    Rent                             $10,000
    Repairs & Maintenance                $50
    Taxes                               $100
    Telephone                           $550
    Uniforms                             $25
    Utilities                           $593
    US Trustee Quarterly Fees         $1,625
    Accountant                          $150
    Attorney                         $10,000
    Patient Care Ombudsman            $1,200
                                     -------
    Total Business Expenses          $78,461

    Net Disposable Income            $11,539
                                     =======

The figures are based on both historical performance and
anticipated income of $25,000 to $30,000 per month from two new
contracts that commence on February 1, 2017.

The Debtor is requesting that it be authorized to use cash
collateral for the purposes and amounts as set forth in that budget
with a 10% deviation for any particular line item.

                      About CompCare Medical

CompCare Medical Inc., which operates a busy general medical
practice with a daily patient count of 40 to 50 patients., filed a
Chapter 11 petition (Bankr. C.D. Cal. Case No. 16-15707) on June
27, 2016.  The petition was signed by Alphonso Benton, president.
The Debtor estimated assets at $100,001 to $500,000 and liabilities
at $500,001 to $1 million.  The Debtor is represented by Todd L.
Turoci, Esq., and Julie Philippi, Esq., at The Turoci Firm, in
Riverside, California.


CORPORATE RISK: S&P Raises CCR to 'B-' on Planned Debt Reduction
----------------------------------------------------------------
S&P Global Ratings raised its corporate credit rating on U.S.-based
Corporate Risk Holdings LLC to 'B-' from 'CCC+'.  The outlook is
stable.

Corporate Risk recently completed the sale of Kroll Ontrack,
receiving a cash payment of $410 million and is now weighing
options to permanently reduce debt.  S&P expects Corporate Risk
Holdings will use about $287 million of the $410 million proceeds
to permanently reduce its existing first-lien term loan and notes
while at the same time reducing its revolving loan commitment.

S&P also raised its issue-level rating to 'B-' from 'CCC+' on the
company's first-lien facilities, including the company's
$42 million revolving commitment expiring 2018, the $275 million
term loan due 2018, and the $825 million notes due 2019.  S&P
raised its issue-level rating to 'CCC' from 'CCC-' on the
$96 million second-lien notes due 2020.  The '3' recovery rating on
the first-lien facilities is unchanged, which indicates S&P's
expectation for creditors to receive meaningful recovery (50% to
70%, at the high-end of the range) in the event of payment default.
For the second-lien notes, S&P's recovery rating of '6' is
unchanged, which indicates its expectation for creditors to receive
negligible recovery (0% to 10%) in the event of payment default.

S&P estimates the company's adjusted debt was approximately
$884 million as of Sept. 30, 2016, which includes S&P's adjustments
for operating leases and pro forma debt repayments.

"The upgrade reflects our expectations that Corporate Risk
Holdings' planned debt repayments will strengthen credit metrics
such that debt-to-EBITDA leverage will be reduced to near or below
6x over the next year (from about 9x at fiscal year ended
Sept. 30, 2016)," said credit analyst Peter DeLuca.  "We expect
debt-to-EBITDA will improve from stronger operating performance and
the use of a portion of the proceeds from the sale of Kroll Ontrack
to permanently reduce debt.  We expect cash flow will improve with
funds from operations (FFO) increasing to near
$45 million in fiscal 2017, from lower projected interest expense
and EBITDA growth from ongoing cost savings following the sale of
Kroll Ontrack."

The stable outlook reflects S&P's expectation that Corporate Risk
Holdings' credit metrics will improve in fiscal 2017, as S&P
expects a portion of the proceeds from the sale of Kroll Ontrack
are applied to permanently reduce debt.  S&P expects that
debt-to-EBITDA leverage will be near or below 6x in 2017, operating
margins slightly improving, and the company to maintain at least an
adequate liquidity assessment.  S&P's outlook also assumes the
company's operating units will continue to benefit from positive
employment trends, and solid expense management while generating
improved cash flows to reinvest in the businesses.

S&P could lower its ratings on Corporate Risk Holdings if S&P
expects the company's credit metrics to weaken with debt-to-EBITDA
leverage sustained above 7x.  This could occur if the company does
not repay debt as S&P forecasts or if it experiences unexpected
client attrition, perhaps from an IT intrusion or other
reputation-damaging event.  S&P could lower the rating if EBITDA
declines by approximately 5% or debt increases by about
$35 million (assuming current debt and EBITDA.)

Given the company's high debt levels and financial sponsor
ownership, it is unlikely S&P would consider an upgrade during the
next 12 months.  Longer term, S&P would consider an upgrade if the
company strengthens its business risk profile by diversifying its
business and growing revenues and margins.

In addition, S&P could upgrade Corporate Risk Holdings if its
credit metrics strengthen beyond S&P's current expectations,
perhaps through further permanent debt reductions, such that debt
to EBITDA reduces to below 5x while also maintaining an adequate
liquidity assessment.  S&P estimates this could occur if the
company further permanently reduces debt by about $225 million
(assuming current debt and EBITDA.)  In addition, the company and
its financial sponsor would also need to commit to maintaining
lower financial leverage over the longer term.


COSI INC: Needs Until February 9 to File Chapter 11 Plan
--------------------------------------------------------
Cosi, Inc. and its affiliated Debtors request the U.S. Bankruptcy
Court for the District of Massachusetts to extend, for a period of
two weeks, their exclusive period to file a Chapter 11 plan to
February 9, 2017, and their exclusive period to solicit acceptances
of their plan to April 10, 2017.

Without the requested extension, the Debtors' exclusive filing
period and solicitation period would expire on January 26, 2017 and
March 27, 2017, respectively.

The Debtors relate that in the initial three months of these cases,
the Debtors and their counsel focused primarily on marketing their
business in connection with a proposed asset sale.  Subsequently,
LIMAB, LLC, the stalking horse bidder pursuant to an Asset Purchase
Agreement, prevailed as the winning bidder in the sale process.
LIMAB then exercised its rights under the APA and have the Debtors
transfer ownership of their assets to LIMAB pursuant to a plan of
reorganization instead of by a purchase of assets.

Currently, LIMAB is operating the Debtors' business pursuant to a
Court-approved interim operating agreement. The Debtors relate that
at this time, the Debtors and their counsel have been focused on
negotiating and implementing the operating agreement.

The Debtors also relate that they are currently working with the
major plan constituencies in an attempt to reach an agreement on
key plan provisions. Specifically, the Debtors have had extensive
discussions with LIMAB as well as the senior secured noteholders
regarding both their pre-petition claims as well as their claims as
DIP Lenders. The Debtors have also kept the Committee apprised of
their progress toward a plan.

The Debtors tell the Court that consistent with operating
agreement, they continue to hold the "Purchase Price" under the
APA, which will be utilized at plan confirmation, among other
potential assets, to fund the distribution to creditors.

As such, the Debtors require additional time to finalize the plan
and prepare adequate information in connection therewith.

                          About Cosi, Inc.

Cosi, Inc. is an international fast-casual restaurant company
featuring its crackly-crust flatbread made fresh throughout the day
and specializing in a variety of made-to-order hot and cold
sandwiches, salads, bowls, breakfast wraps, "Squagels" (square
bagels), melts, soups, flatbread pizzas, S'mores, snacks, deserts
and a large offering of handcrafted, coffee-based, and specialty
beverages.  Cosi prides itself on using the best ingredients,
including foods containing high quality proteins, and products
devoid of high-fructose corn-syrup and preservatives and
additives.

Cosi, the parent company of all the Debtors, was first established
in New York in 1996 and incorporated in Delaware in 1998.  In 2002,
Cosi became publicly traded company on the Nasdaq exchange under
the symbol "COSI".

Cosi, Inc., and its affiliated debtors filed Chapter 11 petitions
(Bankr. D. Mass. Lead Case No. 16-13704-MSH) on Sept. 28, 2016.
The cases are assigned to Judge Melvin S. Hoffman.

Prior to the Petition Date, the Debtors had 72 debtor-owned
locations and 35 franchised locations and employed 1,555 people.

The Debtors tapped  Joseph H. Baldiga, Esq. and Paul W. Carey,
Esq., at Mirick, O'Connell, DeMallie & Lougee, LLP, as counsel; and
DLA Piper LLP (US) as special counsel.

The Debtors hired The O'Connor Group as their financial consultant;
BDO USA, LLP as auditor and accountants; and Randy Kominsky of
Alliance for Financial Growth, Inc., as chief restructuring
officer.  

The U.S. Trustee appointed an Official Committee of Unsecured
Creditors composed of: Robert J. Dourney, Honor S. Heath of Nstar
Electric Company, and Paul Filtzer of SRI EIGHT 399 Boylston.  The
Creditors Committee is represented by Lee Harrington, Esq., at
Nixon Peabody LLP.  Deloitte Financial Advisory Services LLP serves
as financial advisor for the Committee.


CROSSMARK HOLDINGS: S&P Lowers CCR to 'CCC+' on Capital Structure
-----------------------------------------------------------------
S&P Global Ratings lowered all of its ratings on Plano, Texas-based
CROSSMARK Holdings Inc., including its corporate credit rating to
'CCC+' from 'B-'.  The outlook is stable.

S&P also lowered the issue-level rating on CROSSMARK's secured
first-lien debt to 'CCC+' from 'B-', and its secured second-lien
debt to 'CCC-' from 'CCC'.  S&P's '3' recovery rating on the
first-lien debt indicates its expectation for meaningful (50%-70%,
on the low end of the range) recovery in the event of default.
S&P's '6' recovery rating on the second-lien debt indicates its
expectation of negligible (0%-10%) recovery in the event of
default.

"The downgrade reflects our view that CROSSMARK's capital structure
is unsustainable in the long term, with debt to EBITDA presently
approaching the 10x area," said S&P Global Ratings credit analyst
Brennan Clark.  "The company's revenues have deteriorated
significantly as a weak retail environment and budget constraints
have caused consumer packaged goods customers to reduce spending on
outsourced sales and marketing services.  The company has also lost
some customers, which may have been due in part to client
discomfort with changes to the company's organizational structure.
S&P believes that the company's topline will remain under pressure
as foot traffic in center of store for grocery retailers remains
weak and CPG companies continue to adjust to changing consumer
buying behavior."

The stable outlook reflects S&P Global Ratings' view that free cash
flow will remain modestly positive and liquidity will remain
adequate.  S&P believes revenue will decline modestly over the next
year as the company faces pressure from customers and intense
competition from its larger peers.  S&P expects that cost savings
from restructuring activities will sufficiently offset modest
revenue declines such that EBITDA will remain flat and debt to
EBITDA will remain in the 9x area.  S&P do not believe the company
will have any liquidity problems over the next 12 months, as it has
no near-term debt maturities and modest liquidity requirements.

S&P could lower the ratings over the next 12 months if it believes
the company will face a near-term liquidity crisis or a default
scenario, such as a distressed exchange or violation of its
springing covenant.

S&P could take a positive rating action if sales stabilize and
profitability improves due to restructuring efforts, resulting in
leverage improving to 8x.  S&P would also need to believe the
company will maintain sufficient cushion under its springing
leverage covenant.



CRYSTAL ENTERPRISES: Has Until Feb. 21 to File Plan & Disclosures
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Maryland has given
Crystal Enterprises, Inc., until Feb. 21, 2017, to file a
disclosure statement and plan of reorganization.

                     About Crystal Enterprises

Crystal Enterprises, Inc., is in the business of operating a food
service company and is located in Glenn Dale, Maryland.

Crystal Enterprises, Inc. filed a Chapter 11 petition (Bankr. D.
Md. Case No. 16-22565), on Sept. 19, 2016.  The petition was signed
by Sandra Thurman Custis, president.  The case is assigned to Judge
Wendelin I. Lipp.  At the time of filing, the Debtor disclosed
total assets of $114,844 and total liabilities of $3.36 million.  

The Debtor is represented by Rowena Nicole Nelson, Esq., at the Law
Office of Rowena N. Nelson, LLC.  

No trustee or examiner has been appointed in this case and no
official committees have yet been appointed.


CRYSTAL SPOON: Priority Unsec. Claims to be Fully Paid by Sept.2019
-------------------------------------------------------------------
The Crystal Spoon Corp., at the request of the New York State Tax
Commission, filed with the U.S. Bankruptcy Court for the Southern
District of New York a clarification of its small business
disclosure statement referring to the Debtor's plan of
reorganization, to resolve any discrepancies.

The Debtor clarified that under the Plan, holders of Class 3
Priority Unsecured Claims will receive cash equivalent to their
claims in regular installments paid over a period not exceeding
five years from the Filing Date.

Class 3 Claim, which total no more than $113,165.09, will be paid
in full with interest by Sept. 1, 2019.  NYS will be interest at
the rate of 14.5% per year with respect to that portion of its
priority claim which represents unpaid sales tax and at a rate of
8% on the balance of its priority claim.

The Disclosure Statement is available at:

          http://bankrupt.com/misc/nysb16-22238-57.pdf

As reported by the Troubled Company Reporter on Dec. 26, 2016, the
Debtor filed with the Court a small business disclosure statement
describing its plan of reorganization, dated Dec. 20, 2016, which
proposes to pay general unsecured creditors in full.  Under that
plan, Class 4 general unsecured claims are not secured by any
assets of the Debtor and are not entitled to priority under section
507(a) of the Code. Unless the holder of an allowed Class 4 general
unsecured claim agrees to less favorable treatment, the Debtor will
pay holders of allowed Class 4 claims in full without interest over
a period not to exceed 6 years from the Effective Date.  

                    About The Crystal Spoon

Headquartered in Elmsford, New York, The Crystal Spoon aka Top Chef
Meals is in the business primarily of distribution of prepared
meals, co-packing for other suppliers and catering.

The Debtor filed for Chapter 11 bankruptcy protection (Bankr.
S.D.N.Y. Case No. 16-22238) on Feb. 25, 2016, estimating its assets
and liabilities at between $1 million and $10 million.  The
petition was signed by Paul Ghiron, president.

Anne J. Penachio, Esq., at Penachio Malara LLP, serves as the
Debtor's bankruptcy counsel.


D & N ELECTRIC: Taps Henry F. Sewell as Legal Counsel
-----------------------------------------------------
D & N Electric, A Carter Brothers Company, seeks approval from the
U.S. Bankruptcy Court for the Northern District of Georgia to hire
the Law Offices of Henry F. Sewell, Jr., LLC in connection with its
Chapter 11 case.

Sewell will serve as co-counsel with Herbert C. Broadfoot II, PC,
another firm tapped by the Debtor to be its bankruptcy counsel.
The services to be provided by the firm include:

     (a) advising the Debtor regarding its duties in the continued

         management and operation of its business and property;

     (b) attending meetings and negotiating with representatives
         of creditors;

     (c) taking necessary action to protect and preserve the
         Debtor's estate, including the prosecution of actions on

         its behalf;

     (d) reviewing and preparing court documents and agreements;

     (e) negotiating and preparing a plan of reorganization;

     (g) reviewing and objecting to claims, analyzing and
         preparing any causes of action created under the
         Bankruptcy Code;

     (h) advising the Debtor in connection with any potential sale

         of assets; and

     (i) appearing before the courts and the Office of the U.S.
         Trustee.

The firm will be paid an hourly rate of $350 and will receive
reimbursement for work-related expenses.

Henry Sewell, Jr., Esq., disclosed in a court filing that he does
not represent any interest adverse to the Debtor or its bankruptcy
estate.

The firm can be reached through:

     Henry F. Sewell, Jr., Esq.
     Law Offices of Henry F. Sewell, Jr., LLC
     Suite 200, 3343 Peachtree Road NE
     Atlanta, GA 30326
     Phone: (404) 926-0053
     Email: hsewell@sewellfirm.com

                       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.

The Debtor 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.

No trustee, examiner or unsecured creditors' committee has been
appointed in the Debtor's case.


D & N ELECTRIC: Taps Herbert C. Broadfoot as Legal Counsel
----------------------------------------------------------
D & N Electric, A Carter Brothers Company, seeks approval from the
U.S. Bankruptcy Court for the Northern District of Georgia to hire
Herbert C. Broadfoot II, PC in connection with its Chapter 11
case.

Broadfoot will serve as co-counsel with the Law Offices of Henry F.
Sewell, Jr., LLC, another firm tapped by the Debtor to be its
bankruptcy counsel.  The services to be provided by the firm
include:

     (a) preparation of pleadings and applications;

     (b) conduct of examinations;

     (c) advising the Debtor regarding its rights and duties under

         the Bankruptcy Code;

     (d) consulting the Debtor in connection with any proposed
         Chapter 11 plan;

     (e) provide legal services necessary to the day-to-day
         operations or preservation of the Debtor's business

The firm will be paid an hourly rate of $350 and will receive
reimbursement for work-related expenses.

Herbert C. Broadfoot II, Esq., disclosed in a court filing that he
and his firm do not represent any interest adverse to the Debtor or
its bankruptcy estate.

The firm can be reached through:

     Herbert C. Broadfoot, II, Esq.
     Herbert C. Broadfoot, II, PC
     3343 Peachtree Road, NE, Suite 200
     Atlanta, GA 30326
     Tel: (404) 926-0058
     Fax: (404) 926-0055
     Email: bert@hcbroadfootlaw.com

                       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.

The Debtor 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.

No trustee, examiner or unsecured creditors' committee has been
appointed in the Debtor's case.


DAKOTA PLAINS: U.S. Trustee Unable to Appoint Committee
-------------------------------------------------------
An official committee of unsecured creditors has not yet been
appointed in the Chapter 11 case of Dakota Plains Holdings, Inc.,
as of Jan. 24, according to a court docket.

                   About Dakota Plains Holdings

Dakota Plains Holdings, Inc. (NYSE MKT: DAKP) --
http://www.dakotaplains.com/-- is an energy company operating the
Pioneer Terminal transloading facility.  The Pioneer Terminal is
centrally located in Mountrail County, North Dakota, for Bakken and
Three Forks related Energy & Production activity.

Dakota Plains Holding and six of its wholly owned subsidiaries
filed voluntary Chapter 11 petitions (Bankr. D. Minn. Lead Case No.
16-43711) on Dec. 20, 2016, initiating a process intended to
preserve value and accommodate an eventual going-concern sale of
Dakota Plains' business operations.

The petitions were signed by Marty Beskow, CFO.  The cases are
assigned to Judge Michael E. Ridgway.  Canaccord Genuity Inc.
serves as the Debtors' financial advisor and investment banker.

At the time of the filing, Dakota Plains Holdings disclosed $3.08
million in assets and $75.38 million in liabilities.


DEER MEADOWS: Intends to File Plan of Reorganization by April 17
----------------------------------------------------------------
Deer Meadows, LLC asks the U.S. Bankruptcy Court for the District
of Oregon to extend the deadline for the Debtor to file a
disclosure statement and a plan of reorganization to a date no
earlier than April 17, 2017. The Debtor also requests an extension
of the exclusivity period to a date no earlier than June 15, 2017.


By prior order of the Court, the Debtor has until January 30, 2017
to file a disclosure statement and a plan of reorganization.

The Debtor contends that at the case management conference, it has
informed the Court that it was in negotiations with a prospective
purchaser of its real property and business assets. That sale will
likely occur with an anticipated closing of April 1, 2017. The
Debtor further contends that once the sale is consummated, the
Debtor will either (a) file a liquidated plan, (b) seek to convert
its case to a chapter 7 case or seek to dismiss this case.

Accordingly, the Debtor believes it can propose a viable plan of
reorganization. Such that, if a liquidating plan is the chosen
path, the Debtor needs sufficient time to draft these documents,
circulate them to key creditors and parties in interest,
incorporate their input and finalize the documents before filing
them. But, if either conversion or dismissal is the chosen path, a
plan of reorganization will not be needed.

                About Deer Meadows

Deer Meadows filed a Chapter 11 petition (Bankr. D. Ore. Case No.
16-33768) on Sept. 30, 2016.  The petition was signed by Kristin
Harder, manager.  The case is assigned to Judge Peter C.
McKittrick.  The Debtor estimated assets and liabilities at $1
million to $10 million at the time of the filing.

The Debtor is represented by Stephen T. Boyke, Esq., at the Law
Office of Stephen T. Boyke.  The Debtor hires JCH Consulting Group,
Inc. as real estate broker; and Ogden Murphy Wallace PLLC as
special counsel.

Gail Brehm Geiger, the Acting United States Trustee for the
District of Oregon, appointed Suzanne Koenig, as the Patient Care
Ombudsman for Deer Meadows, LLC.


DYNEGY INC: Bankruptcy Court Confirms Reorganization Plan
---------------------------------------------------------
Dynegy Inc. and Illinois Power Generating Company (Genco), an
indirect, wholly owned subsidiary of Dynegy, disclosed that on Jan.
25 the United States Bankruptcy Court for the Southern District of
Texas, Houston Division, confirmed the Genco Chapter 11 plan of
reorganization.  The plan confirmation clears the way for Genco to
emerge from Chapter 11 and complete its financial restructuring,
likely within the next few weeks.

                          About Dynegy

Through its subsidiaries, Houston, Texas-based Dynegy Inc. (NYSE:
DYN) -- http://www.dynegy.com/-- produces and sells electric  
energy, capacity and ancillary services in key U.S. markets.  The
power generation portfolio consists of approximately 12,200
megawatts of baseload, intermediate and peaking power plants fueled
by a mix of natural gas, coal and fuel oil.

Dynegy Holdings LLC and four other affiliates of Dynegy Inc. sought
Chapter 11 bankruptcy protection (Bankr. S.D.N.Y. Lead Case No.
11-38111) on Nov. 7, 2011, to implement an agreement with a group
of investors holding more than $1.4 billion of senior notes issued
by Dynegy's direct wholly-owned subsidiary, Dynegy Holdings,
regarding a framework for the consensual restructuring of more than
$4.0 billion of obligations owed by DH.  If this restructuring
support agreement is successfully implemented, it will
significantly reduce the amount of debt on the Company's
consolidated balance sheet.  Dynegy Holdings disclosed assets of
$13.77 billion and debt of $6.18 billion.

Dynegy Inc. on July 6, 2012, filed a voluntary petition to
reorganize under Chapter 11 (Bankr. S.D.N.Y. Case No. 12-36728) to
effectuate a merger with Dynegy Holdings, pursuant to Holdings'
Chapter 11 plan.

Dynegy Holdings and its parent, Dynegy Inc., completed their
Chapter 11 reorganization and emerged from bankruptcy Oct. 1, 2012.
Under the terms of the DH/Dynegy Plan, DH merged with and into
Dynegy, with Dynegy, Inc., remaining as the surviving entity.

Dynegy Northeast Generation, Inc., Hudson Power, L.L.C., Dynegy
Danskammer, L.L.C. and Dynegy Roseton, L.L.C., won confirmation of
their plan of liquidation in March 2013, allowing the former
operating units of Dynegy to consummate a settlement agreement
resolving some lease trustee claims and sell their facilities.

                           *     *     *

The Troubled Company Reporter, on June 20, 2016, reported that S&P
Global Ratings affirmed its 'B+' corporate credit rating on Dynegy
Inc.  The outlook is stable.

Additionally, S&P is assigning a 'BB' rating and '1' recovery
rating to the proposed senior secured term loan B.  The '1'
recovery rating indicates expectations for very high (90%-100%)
recovery in the event of a payment default.


EAST BAY DRY: Case Summary & 14 Unsecured Creditors
---------------------------------------------------
Debtor: East Bay Dry Cleaners, Inc.
        9023 Park Boulevard
        Seminole, FL 33777

Case No.: 17-00557

Chapter 11 Petition Date: January 24, 2017

Court: United States Bankruptcy Court
       Middle District of Florida (Tampa)

Debtor's Counsel: David W Steen, Esq.
                  DAVID W STEEN, P.A.
                  2901 W. Busch Boulevard, Suite 311
                  Tampa, FL 33618
                  Tel: (813) 251-3000
                  E-mail: dwsteen@dsteenpa.com

Estimated Assets: $100,000 to $500,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Howard Wolfson, president.

A copy of the Debtor's list of 14 unsecured creditors is available
for free at:

       http://bankrupt.com/misc/flmb17-00557.pdf


ECOARK HOLDINGS: Appoints Jay Oliphant PFO and PAO
--------------------------------------------------
Ecoark Holdings Inc. appointed Jay Oliphant, the Company's
corporate controller, to serve as the Company's principal financial
officer and principal accounting officer.

Mr. Oliphant, 57, served as controller for Ecoark, Inc. since
January 2016 and then as controller for the Company since March
2016.  During 2016, Mr. Oliphant led a professional team who
implemented cloud-based systems and controls for the Company and
significantly improved internal controls over financial reporting
to comply with the Sarbanes-Oxley Act.  Immediately prior to
joining Ecoark, Inc. in 2016, he spent nine years in various
controllership roles at Walmart.  His professional experience also
includes roles with Oracle, PricewaterhouseCoopers in New York and
Deloitte in Houston.  He has been a CPA for over 30 years and has a
Master of Accounting, Master of Business and Public Management, and
Bachelor in Economics degrees from Rice University.

                   About Ecoark Holdings

Ecoark Holdings, Inc., is a technology solutions company.  The
Company offers technologies to fight waste in operations,
logistics, and supply chains worldwide.  It provides pallet-level
time and temperature tracking, pre-cool prioritization and
monitoring, pallet routing, real-time in-transit monitoring, remote
visibility, and quality management solutions.  The Company also
offers Point Clouds, which creates two dimensional (2d) and three
dimensional (3d) digital replications; High definition (HD) photos,
a 360 degree rotational bubble image from various project
perspectives; 2d Plans that plan and elevates views in CAD/PDF; and
3d models, such as Revit, CAD, Cyclone, 3dS, and others; as well as
provides training and consultation services on laser scan and/or
creates 2d as-builts or 3d models.

For the six months ended June 30, 2016, Ecoark reported a net loss
of $8.09 million following a net loss of $5.23 million for the six
months ended June 30, 2015.

As of Sept. 30, 2016, Ecoark had $20.48 million in total assets,
$10.75 million in total liabilities and $9.72 million in total
stokholders' equity.

"The Company raised $17,320 of additional capital, net of expenses,
in a private placement subsequent to the reverse merger transaction
on March 24, 2016...The Company's ability to raise additional
capital through future equity and debt securities issuances is
unknown.  Obtaining additional financing, the successful
development of the Company's contemplated plan of operations,
ultimately, to profitable operations are necessary for the Company
to continue operations.  The ability to successfully resolve these
factors raises substantial doubt about the Company's ability to
continue as a going concern," the Company stated in its quarterly
report for the period ended Sept. 30, 2016.


ECOARK HOLDINGS: Appoints Two Board Members
-------------------------------------------
Ecoark Holdings, Inc. appointed Peter Mehring and Troy Richards to
the Company's Board of Directors to fill two vacancies.  After
these appointments, there are seven directors on the Company's
Board of Directors, including four independent directors pursuant
to Rule 10A-3 promulgated under the Securities Exchange Act of
1934, as amended, and as defined by NASDAQ Rule 5605(a)(2).

Mr. Mehring currently serves as president of Zest Labs, Inc., a
subsidiary of the Company, and has served in such role since July
2009.  As president of Zest Labs, Inc., he has led the Company's
efforts in pioneering on-demand data visibility and condition
monitoring solutions for the fresh produce, protein and
pharmaceutical markets.  He was formerly vice president of
Macintosh hardware group at Apple Computer, senior vice president
of Engineering at Echelon, and founder, general manager and vice
president of R&D at UMAX.  Mr. Mehring held Engineering Management
positions at Radius, Power Computing Corporation, Sun Microsystems,
and Wang Laboratories.  Mr. Mehring brings extensive experience,
and can advise the Board of Directors in matters relating to
engineering, operations and general management at emerging
companies and large enterprises.

Mr. Richards became an employee of the Company in June 2016 when he
was appointed as the Company's chief administrative officer. Mr.
Richards previously served as an advisor to the Company since 2013.
Since 1992, Mr. Richards has been franchisee of the Wendy's
Company and, at the height of his business with Wendy's Company, he
had over 400 employees throughout the state of Arizona and owned
and operated over 30 restaurants.  Mr. Richards actively serves on
the foundation board of the Translational Genomics Research
Institute and has been involved in TGen's growth in many areas,
including advanced adrenal cancer research and institution-wide
marketing.  Mr. Richards has extensive management and systems
experience which he will use to contribute to the Company's Board
of Directors.

There are no arrangements or understandings between Mr. Mehring or
Mr. Richards and any person pursuant to which they were selected as
a director, and there are no actual or proposed transactions
between the Company and Mr. Mehring, Mr. Richards or any of their
immediate family members that would require disclosure under Item
404(a) of Regulation S-K in connection with their appointment as a
director.  Neither Mr. Mehring nor Mr. Richards have been appointed
to any board committees.  Except for their compensation as
employees of the Company, there are no other material plans,
contracts or arrangements in which the new directors will
participate in connection with their appointment.

                      About Ecoark Holdings

Ecoark Holdings, Inc., is a technology solutions company.  The
Company offers technologies to fight waste in operations,
logistics, and supply chains worldwide.  It provides pallet-level
time and temperature tracking, pre-cool prioritization and
monitoring, pallet routing, real-time in-transit monitoring, remote
visibility, and quality management solutions.  The Company also
offers Point Clouds, which creates two dimensional (2d) and three
dimensional (3d) digital replications; High definition (HD) photos,
a 360 degree rotational bubble image from various project
perspectives; 2d Plans that plan and elevates views in CAD/PDF; and
3d models, such as Revit, CAD, Cyclone, 3dS, and others; as well as
provides training and consultation services on laser scan and/or
creates 2d as-builts or 3d models.

For the six months ended June 30, 2016, Ecoark reported a net loss
of $8.09 million following a net loss of $5.23 million for the six
months ended June 30, 2015.

As of Sept. 30, 2016, Ecoark had $20.48 million in total assets,
$10.75 million in total liabilities and $9.72 million in total
stokholders' equity.

"The Company raised $17,320 of additional capital, net of expenses,
in a private placement subsequent to the reverse merger transaction
on March 24, 2016...The Company's ability to raise additional
capital through future equity and debt securities issuances is
unknown.  Obtaining additional financing, the successful
development of the Company's contemplated plan of operations,
ultimately, to profitable operations are necessary for the Company
to continue operations.  The ability to successfully resolve these
factors raises substantial doubt about the Company's ability to
continue as a going concern," the Company stated in its quarterly
report for the period ended Sept. 30, 2016.


ECOARK HOLDINGS: Changes Fiscal Year End to March 31
----------------------------------------------------
Ecoark Holdings, Inc.'s Board of Directors determined to change the
fiscal year of the Company from a fiscal year ending on December 31
to a fiscal year ending on March 31 as permitted by the Company's
bylaws.  After filing its Annual Report on Form 10-K for the year
ended Dec. 31, 2016, the Company will file a report covering the
transition period from Jan. 1, 2016, through March 31, 2017, using
a transition report on Form 10-QT.

                      About Ecoark Holdings

Ecoark Holdings, Inc., is a technology solutions company.  The
Company offers technologies to fight waste in operations,
logistics, and supply chains worldwide.  It provides pallet-level
time and temperature tracking, pre-cool prioritization and
monitoring, pallet routing, real-time in-transit monitoring, remote
visibility, and quality management solutions.  The Company also
offers Point Clouds, which creates two dimensional (2d) and three
dimensional (3d) digital replications; High definition (HD) photos,
a 360 degree rotational bubble image from various project
perspectives; 2d Plans that plan and elevates views in CAD/PDF; and
3d models, such as Revit, CAD, Cyclone, 3dS, and others; as well as
provides training and consultation services on laser scan and/or
creates 2d as-builts or 3d models.

For the six months ended June 30, 2016, Ecoark reported a net loss
of $8.09 million following a net loss of $5.23 million for the six
months ended June 30, 2015.

As of Sept. 30, 2016, Ecoark had $20.48 million in total assets,
$10.75 million in total liabilities and $9.72 million in total
stokholders' equity.

"The Company raised $17,320 of additional capital, net of expenses,
in a private placement subsequent to the reverse merger transaction
on March 24, 2016...The Company's ability to raise additional
capital through future equity and debt securities issuances is
unknown.  Obtaining additional financing, the successful
development of the Company's contemplated plan of operations,
ultimately, to profitable operations are necessary for the Company
to continue operations.  The ability to successfully resolve these
factors raises substantial doubt about the Company's ability to
continue as a going concern," the Company stated in its quarterly
report for the period ended Sept. 30, 2016.


ECOARK HOLDINGS: Chief Financial Officer Resigns
------------------------------------------------
Yash Puri resigned as a member of the Board of Directors and as
executive vice president, chief financial officer and treasurer of
Ecoark Holdings, Inc. on Jan. 13, 2017.  Mr. Puri will remain
involved in the Company as a part-time employee until June 30,
2017, and then continue as a consultant to help support regulatory
filings and other related issues.  Mr. Puri, 69, advised the
Company that his resignation was in order to scale back his role in
the Company and not in connection with any disagreement with the
Company on any matter relating to its operations, policies or
practices, as disclosed in a Form 8-K report filed with the
Securities and Exchange Commission.

                     About Ecoark Holdings

Ecoark Holdings, Inc., is a technology solutions company.  The
Company offers technologies to fight waste in operations,
logistics, and supply chains worldwide.  It provides pallet-level
time and temperature tracking, pre-cool prioritization and
monitoring, pallet routing, real-time in-transit monitoring, remote
visibility, and quality management solutions.  The Company also
offers Point Clouds, which creates two dimensional (2d) and three
dimensional (3d) digital replications; High definition (HD) photos,
a 360 degree rotational bubble image from various project
perspectives; 2d Plans that plan and elevates views in CAD/PDF; and
3d models, such as Revit, CAD, Cyclone, 3dS, and others; as well as
provides training and consultation services on laser scan and/or
creates 2d as-builts or 3d models.

For the six months ended June 30, 2016, Ecoark reported a net loss
of $8.09 million following a net loss of $5.23 million for the six
months ended June 30, 2015.

As of Sept. 30, 2016, Ecoark had $20.48 million in total assets,
$10.75 million in total liabilities and $9.72 million in total
stokholders' equity.

"The Company raised $17,320 of additional capital, net of expenses,
in a private placement subsequent to the reverse merger transaction
on March 24, 2016...The Company's ability to raise additional
capital through future equity and debt securities issuances is
unknown.  Obtaining additional financing, the successful
development of the Company's contemplated plan of operations,
ultimately, to profitable operations are necessary for the Company
to continue operations.  The ability to successfully resolve these
factors raises substantial doubt about the Company's ability to
continue as a going concern," the Company stated in its quarterly
report for the period ended Sept. 30, 2016.


ECOARK HOLDINGS: Names Jay Puchir Treasurer and Secretary
---------------------------------------------------------
Ecoark Holdings Inc. appointed Jay Puchir as the Company's
treasurer and secretary on Jan. 19, 2017.  

Mr. Puchir, 41, is currently the Company's director of finance,
joining the Company in December 2016. As Director of Finance, Mr.
Puchir leads the Company's treasury function, financial planning &
analysis, and assists the Corporate Controller with financial
reporting.  

Mr. Puchir started his career as an auditor at
PricewaterhouseCoopers and a consultant at Ernst & Young,
ultimately earning the position of Senior Manager at Ernst & Young.
Immediately prior to joining the Company, he held the role of
associate chief financial officer with HCA and from March 2010 to
February 2016 he served as both the accounting manager and director
of finance / controller at The Citadel.  Mr. Puchir is a licensed
Certified Public Accountant.  Mr. Puchir has also served on a
part-time basis as the chief financial officer of Trend Discovery
Capital Management since July 2014.  He received his Bachelor of
Arts from the University of North Carolina at Chapel Hill and his
Master of Business Administration from Rutgers University.

                   About Ecoark Holdings

Ecoark Holdings, Inc., is a technology solutions company.  The
Company offers technologies to fight waste in operations,
logistics, and supply chains worldwide.  It provides pallet-level
time and temperature tracking, pre-cool prioritization and
monitoring, pallet routing, real-time in-transit monitoring, remote
visibility, and quality management solutions.  The Company also
offers Point Clouds, which creates two dimensional (2d) and three
dimensional (3d) digital replications; High definition (HD) photos,
a 360 degree rotational bubble image from various project
perspectives; 2d Plans that plan and elevates views in CAD/PDF; and
3d models, such as Revit, CAD, Cyclone, 3dS, and others; as well as
provides training and consultation services on laser scan and/or
creates 2d as-builts or 3d models.

For the six months ended June 30, 2016, Ecoark reported a net loss
of $8.09 million following a net loss of $5.23 million for the six
months ended June 30, 2015.

As of Sept. 30, 2016, Ecoark had $20.48 million in total assets,
$10.75 million in total liabilities and $9.72 million in total
stokholders' equity.

"The Company raised $17,320 of additional capital, net of expenses,
in a private placement subsequent to the reverse merger transaction
on March 24, 2016...The Company's ability to raise additional
capital through future equity and debt securities issuances is
unknown.  Obtaining additional financing, the successful
development of the Company's contemplated plan of operations,
ultimately, to profitable operations are necessary for the Company
to continue operations.  The ability to successfully resolve these
factors raises substantial doubt about the Company's ability to
continue as a going concern," the Company stated in its quarterly
report for the period ended Sept. 30, 2016.


ECRA GROUP: Unsecureds to Recover 3% in Five Years
--------------------------------------------------
ECRA Group Corp. filed with the U.S. Bankruptcy Court for the
District of Puerto Rico a disclosure statement referring to the
Debtor's plan of reorganization dated Jan. 13, 2017.

The Debtor is proposing a plan to cure and pay the priority
obligations allowed in full in 60 months after the date of the
order for relief, which is June 10, 2016, and pay 3% to the
unsecured claims in five years following the effective date or
within a period no longer than 60 months.

The Plan will be funded through cash on hand at the Effective Date,
and through selling the commercial real estate property.  Future
income from savings on reduction of operational expenses
maintaining and increasing the sales to customers will also be used
for the payment plan.

The Disclosure Statement is available at:

         http://bankrupt.com/misc/prb16-04651-47.pdf

                         About ECRA Group

ECRA Group, Corp., is organized under the laws of the Commonwealth
of Puerto Rico and organized on Nov. 16, 2005.  Annette Cancel
Lorenzana is the president of the corporation and co-owner with 45%
of the stocks; Carlos I. Arce is the owner of 45% of the stocks;
Iannette Arce Cancel is the secretary of the corporation and owner
of 5% of the stocks, and Liannette Arce Cancel is the owner of 5%
of the stocks of the corporation.  The Debtor operates its business
dba Ferreteria Arce at a rented commercial property dedicated to
servicing and selling construction materials and hardware equipment
and related materials to general customers and construction
technicians.  The store is located at road 670.23 Marginal Street,
Parcelas Marquez, Vega Baja, Puerto Rico.  The Debtor owns the real
property dedicated for the leasing business operation.

The Debtor filed a Chapter 11 bankruptcy petition (Bankr. D.P.R.
Case No. 16-04651) on June 10, 2016.  Luis D. Flores Gonzalez at
The Law Offices of Luis D. Flores Gonzalez as bankruptcy counsel.

As of the date of the filing of the Chapter 11 petition, the Debtor
had assets of $545,500 and liabilities of $782,989.


EMMAUS LIFE: Generex to Buy 51% Company Stake for $225 Million
--------------------------------------------------------------
Generex Biotechnology Corporation and Emmaus Life Sciences, Inc.
entered into a letter of intent contemplating that Generex will
acquire a controlling interest of the outstanding capital stock of
Emmaus for a total consideration of $225,000,000.

The LOI will terminate upon the earlier of (i) the mutual written
agreement of the parties; (ii) either party notifying the other of
the termination of negotiations; (iii) Generex's failure to pay the
first two cash payments; or (iv) the parties' failure to execute
and deliver a definitive purchase agreement with 45 days of the
execution of the LOI.

Generex will purchase 51% percent of the issued and outstanding
common stock of Emmaus at the closing of the Proposed Acquisition,
with an appropriate adjustment in the number of Emmaus Shares to
maintain its 51% equity position in the event that any warrants,
options or other convertible securities of Emmaus are subsequently
exercised.

The purchase price for the Emmaus Shares will consist of
$10,000,000 in cash and $215,000,000 worth of shares of Generex’s
common stock, which will be valued at $3.80 per share at the
Closing, provided that if a material event occurs that increases
the fair market value of Generex Shares prior to the Closing, the
value attributed to the Generex Shares will be increased to such
higher market value up to a maximum of $12.00 per share.  This
valuation assumes the consummation of a reverse stock split of
Generex's common stock at a 1000 to 1 ratio, and if such reverse
stock does not occur or occurs on different terms, the per share
price will be adjusted accordingly.  The closing price of Generex's
common stock as of Jan. 17, 2017, was $0.0047 per share.

In the event that (i) Emmaus does not receive the approval of the
Food and Drug Administration by July 7, 2017 (unless the approval
date is extended by the FDA for administrative reasons beyond
Emmaus' control, in which case such later date of FDA approval
shall apply) for its oral pharmaceutical grade L-glutamine
treatment for sickle cell anemia and sickle ß0-thalassemia and
(ii) additional requirements, including trials and testing, are
required for FDA approval, then the foregoing purchase price may be
adjusted in proportion to the funding needed from Generex to meet
such additional requirements.  The adjustment will be effected by
Emmaus issuing additional Emmaus Shares to Generex or returning to
Generex some of Generex Shares, in either case, in proportion to
the amount of the necessary funding.  Alternatively, Emmaus has the
right to raise the necessary funding by sale of Generex Shares
(subject to Generex's right of first refusal) or issuance of Emmaus
shares of common stock.

Generex has paid Emmaus an initial portion of the cash
consideration in the amount of $500,000 and will pay Emmaus
$1,500,000 within three weeks of Jan. 16, 2017.  The $500,000
payment was advanced to Generex and was funded by Joseph Moscato,
Generex's new CEO and director, and  Lawrence Salvo, Generex's new
senior vice president and director.  Generex does not have any
formal arrangement for repayment of the amounts advanced by Mr.
Moscato and Mr. Salvo.

In addition, upon signing of a definitive purchase agreement (which
the parties anticipate will occur within 45 days of
Jan. 16, 2017), Generex will pay Emmaus $2,000,000.  The remaining
$6,000,000 of the cash portion of the consideration will be paid at
the Closing, which is contemplated to occur within 60 days of Jan.
16, 2017.  If the parties do not execute a definitive purchase
agreement within such 45-day period or the Closing does not occur
within such 60-day period, all cash payments are to be refunded to
Generex, plus a breakup fee in the form of warrants to acquire
Emmaus capital stock with a market value of $500,000 determined
with a strike price corresponding to the Closing valuation of
Emmaus at $450 million.  The breakup fee shall be payable only if
the failure to execute the definitive purchase agreement or close
the Proposed Acquisition is not caused by Generex's breach of its
obligations.

Generex will grant Emmaus an option to acquire up to 36% of the
Emmaus Shares which will be exercisable at an exercise price of
$100 per 1% of Emmaus' capital stock upon Emmaus achieving one of
the following conditions: (i) receiving approval of the FDA by July
7, 2017 (unless the approval date is extended by the FDA for
administrative reasons beyond Emmaus' control, in which case such
later date of FDA approval shall apply), for its oral
pharmaceutical grade L-glutamine treatment for sickle cell anemia
and sickle ß0-thalassemia; or (ii) securing a contractual
agreement with a pharmaceutical company to which Emmaus receives an
upfront payment from the pharmaceutical company.

Generex will grant Emmaus an option to purchase for cash an
additional 5% of Emmaus' capital stock at a valuation equal to the
then current fair market value less a 10% discount, which will be
exercisable upon the occurrence of the spin off.

If Emmaus achieves either of the Emmaus Benchmarks, Emmaus will
have the option and right of spinning off as a public or private
company or filing with the Securities and Exchange Commission and
effectuating a Form S-1 registration statement in accordance with
applicable law to "spin off" Emmaus for a listing on a national
U.S. stock exchange, without any further consent of Generex, and
Generex will cooperate with Emmaus in effectuating the registration
statement.

Generex Shares and Emmaus Shares will be issued without
registration or qualification.

                 Definitive Purchase Agreement

The obligations of the parties to consummate the Proposed
Acquisition are subject to a number of conditions, including
without limitation, the satisfaction of due diligence and the
negotiation and execution of a definitive purchase agreement
setting forth the terms and conditions of the Proposed Acquisition.
The definitive purchase agreement will include provisions,
including without limitation, representations, warranties,
covenants, holdback provisions and indemnities that are usual and
customary in a transaction of this nature as such may be mutually
agreed upon between the parties.  Other terms required in the
definitive purchase agreement are specified below.

A material requirement of the definitive purchase agreement will be
the listing of Generex's common stock on NASDAQ.  Generex will have
approximately 4 months from the Closing to receive approval from
NASDAQ for an "up-listing" or at least provide Emmaus with
documentation that the filing has been made and that NASDAQ is
committed to the listing, pending the provision of additional
information by Generex.  If Generex does not receive approval from
NASDAQ for listing within the above timeline (except for reasonable
delays not to exceed 30 days in the aggregate), Emmaus will have
the right, at its sole discretion, to rescind the Proposed
Acquisition.  If Generex's up listing is not consummated by Oct.
31, 2017, Emmaus will have the right, at its sole discretion, to
rescind the Proposed Acquisition; provided however if the FDA
approval date for Emmaus product described above is extended by the
FDA for administrative reasons beyond Emmaus' control, then the
Final Listing Date will be delayed for a corresponding period.

The definitive purchase agreement will also include a provision
outlining "poison pill" language to thwart any attempt to remove
either Dr. Yutaka Niihara (currently CEO of Emmaus) and/or Joseph
Moscato during the term of their employment with Generex after the
Closing.  In addition, prior to Closing, Emmaus' certificate of
incorporation and bylaws will be amended to state that for any
matter for which the approval of stockholders representing a
majority of outstanding shares is required, the approval of
stockholders representing a 55% majority of outstanding shares will
be required.

                          Standstill

Until termination of the parties' negotiations (but no later than
60 days after the execution of the LOI), Emmaus will abide by
customary "stand still" terms, including without limitation, the
following: Emmaus will not enter into nor continue any existing
negotiations for any financing, merger or acquisition of Emmaus or
its assets, except for obtaining investments from its existing
stockholders, investments with other investors (provided Generex
will have the right to maintain its 51% ownership as of the Closing
without additional consideration in the event additional shares are
issued pre-Closing), and discussions regarding licensing Emmaus'
technology that have already been commenced, and, except for the
foregoing activities, Emmaus will terminate any existing
discussions or negotiations with, and shall cease to provide
information to or otherwise cooperate with, any party other than
Generex and its representatives with respect to any agreement,
letter of intent or agreement in principle concerning any merger,
joint venture, recapitalization, reorganization, sale of
substantial assets, sale of any shares of capital stock, investment
or similar transaction involving Emmaus or any of its subsidiaries
or divisions.

                    Post-Closing Management

The LOI contemplates that, upon the Closing, Dr. Yutaka Niihara
will be elected Generex's executive chairman, Emmaus' directors
will continue as directors of Emmaus for 3 years, and a
representative of Generex will be elected as a director, and that
Generex will enter into a voting agreement with certain other major
stockholders of Emmaus that it will vote with such major
stockholders to preserve such composition of the board of directors
for 3 years or until a spin off occurs.

                      About Emmaus Life

Emmaus Life Sciences, Inc., is engaged in the discovery,
development, and commercialization of treatments and therapies
primarily for rare and orphan diseases.  This biopharmaceutical
company's headquarters is in Torrance, California.

Emmaus Life reported a net loss of $12.7 million on $590,114 of
net revenues for the year ended Dec. 31, 2015, compared to a net
loss of $21.8 million on $500,679 of net revenues for the year
ended Dec. 31, 2014.

As of Sept. 30, 2016, Emmaus Life had $21.56 million in total
assets, $30.84 million in total liabilities and a total
stockholders' deficit of $9.28 million.

SingerLewak LLP, in Los Angeles, California, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2015, citing that the Company has suffered
recurring losses from operations, its total liabilities exceed its
total assets and it has an accumulated stockholders' deficit.  This
raises substantial doubt about the Company's ability to continue as
a going concern.


ENUMERAL BIOMEDICAL: Thomas Satterfield Reports 5% Equity Stake
---------------------------------------------------------------
In a Schedule 13G filed with the Securities and Exchange
Commission, Thomas A. Satterfield, Jr. and A.G. Family L.P.
disclosed that as of Jan. 20, 2017, they beneficially own 6,419,200
shares of common stock of Enumeral Biomedical Holdings, Inc.
representing 5 percent based on 128,343,122 shares of Common Stock
of the Company outstanding as of Dec. 9, 2016.  A full-text copy of
the regulatory filing is available at https://is.gd/U7XwaD

                       About Enumeral

Enumeral Biomedical Holdings, Inc., is engaged in the discovery of
monoclonal antibodies and other novel biologics for the diagnosis
and treatment of cancer, infectious and inflammatory diseases.  The
Company is currently focused on developing next generation
antibodies that are more precise in their effects on tumor- and
tissue-inflitrating lymphocyte functions via modulation of
regulatory proteins known as checkpoints.

Enumeral reported net income of $3.29 million in 2015 following a
net loss of $8.17 million in 2014.

As of Sept. 30, 2016, Enumeral had $4.04 million in total assets,
$4.85 million in total liabilities and a total stockholders'
deficit of $807,104.

Friedman LLP, in New York, New York, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2015, citing the Company's recurring losses which
raise substantial doubt about its ability to continue as a going
concern.


ESCALERA RESOURCES: Taps Williams Porter as Special Counsel
-----------------------------------------------------------
Escalera Resources Co. seeks approval from the U.S. Bankruptcy
Court in Colorado to hire Williams, Porter, Day & Neville, P.C. as
its special counsel.

Williams Porter will assist the Debtor in pursuing a tax refund
from the State of Wyoming.  

Thomas Reese, Esq., the attorney designated to represent the
Debtor, will be paid an hourly rate of $350.  Other attorneys and
paralegals are billed at the firm's normal hourly rates, which
range from $100 to $250.

Mr. Reese disclosed in a court filing that his firm does not
represent or hold any interest adverse to the Debtor or its
bankruptcy estate.

Williams Porter can be reached through:

     Thomas F. Reese, Esq.
     Will Reese, Esq.
     Williams, Porter, Day & Neville, P.C.
     P.O. Box 10700
     159 North Wolcott, Suite 400
     Casper, WY 82602
     Tel: (307) 265-0700
     Fax: (307) 266-2306
     Email: treese@wpdn.net

                     About Escalera Resources

Headquartered in Denver, Colorado, Escalera Resources Co. (OTCMKTS:
ESCRQ) is an independent energy company engaged in the exploration,
development, production and sale of natural gas and crude oil,
primarily in the Rocky Mountain basins of the western United
States. Escalera was incorporated in Wyoming in 1972 and
reincorporated in Maryland in 2001. As of October 2015, the Company
had 22 employees, none of whom are subject to a collective
bargaining agreement.

Escalera has approximately 14,300,000 shares of common stock
(symbol "ESCR") and 1,610,000 shares of Series A Cumulative
Preferred Stock (symbol "ESCRP") outstanding.

Escalera Resources filed for Chapter 11 bankruptcy protection
(Bankr. D. Colo. Case No. 22395) on Nov. 5, 2015.  Adam Fenster,
the chief financial officer, signed the petition. Judge Thomas B.
McNamara is assigned to the case.

The Debtor listed total assets of $97.7 million and total
liabilities of $67.7 million as of June 30, 2015.

The Debtor has won approval to employ Onsager Guyerson Fletcher
Johnson as bankruptcy counsel. Three other professionals were
approved by the Court: (i) Hein & Associates,
LLP, as accountants for Debtor; (ii) Lindquist & Vennum LLP, as
special counsel for the Debtor in connection with the Humphrey
litigation; and (iii) Jones & Keller, P.C., as special counsel for
the Debtor for general corporate and securities matters.  The
Debtor also hired Seaport Global Securities LLC as investment
banker.

On October 26, 2016, the court ordered the Office of the U.S.
Trustee to appoint a Chapter 11 trustee for the bankruptcy estate.


ESTEBAN BEAUTY: Disclosures Conditionally OK'd; Hearing on Feb. 17
------------------------------------------------------------------
The Hon. Edward A. Godoy of the U.S. Bankruptcy Court for the
District of Puerto Rico has conditionally approved Esteban Beauty
Distributor Corp.'s disclosure statement dated Jan. 17, 2017,
referring to the Debtor's plan of reorganization.

A hearing for the consideration of the final approval of the
Disclosure Statement and the confirmation of the Plan and of
objections as may be made to either will be held on Feb. 17, 2017,
at 9:30 a.m.

Acceptances or rejections of the Plan may be filed in writing by
the holders of all claims on or before 14 days prior to the date of
the hearing on confirmation of the Plan.

Any objection to the final approval of the Disclosure Statement and
or the confirmation of the Plan will be filed on or before 14 days
prior to the date of the hearing on confirmation of the Plan.
The Debtor will file with the Court a statement setting forth
compliance with each requirement in Section 1129, the list of
acceptances and rejections and the computation of the same, within
seven working days before the hearing on confirmation.

                      About Esteban Beauty

Headquartered in Toa Baja, Puerto Rico, Esteban Beauty Distributor
Corp. sought protection under Chapter 11 of the Bankruptcy Code in
the U.S. Bankruptcy Court for the District of Puerto Rico (Case No.
16-03796) on May 11, 2016, estimating its assets and liabilities at
between $100,001 and $500,000 each.  

Maria Soledad Lozada, Esq., at the Lozada Law & Associates, LLC,
serves as the Debtor's bankruptcy counsel.


ESTEBAN BEAUTY: Needs Additional 90 Days to Confirm Plan
--------------------------------------------------------
Esteban Beauty Distributor Corp. and Esteban Distributor Inc.
request the U.S. Bankruptcy Court for the District of Puerto Rico
to extend the Debtors' time to confirm their Plan of Reorganization
by 90 days and for continuance of the confirmation hearing.

The Debtors relate that they have filed a small business Disclosure
Statement and Chapter 11 Plan on January 17, 2017, and the Court
has scheduled the confirmation hearing for February 17, 2017 at
9:30 am. However, the Debtors intend to file objections to claims,
once the Debtors' CPA provides the evidence.

Accordingly, the Debtors need an extension of time to finish
pending issues that will favorably conclude the plan being
confirmed.

                    About Esteban Beauty Distributor Corp.
                        and Esteban Distributor Inc.

Esteban Beauty Distributor Corp. and Esteban Distributor Inc. filed
separate Chapter 11 petitions (Bankr. D.P.R. Case No. 16-03796 and
Bankr. D.P.R. Case No. 16-03799), on May 11, 2016.  The Petitions
were signed by Jose Esteban Colon, President.  The Debtors are
represented by Maria Soledad Lozada Figueroa, Esq. at Lozada Law &
Associates, LLC.  At the time of filing, each of the Debtors
estimated their assets and liabilities to be between $100,000 to
$500,000 each.


ESTEBAN DISTRIBUTOR: Disclosures Conditionally Okayed
-----------------------------------------------------
The Hon. Edward A. Godoy of the U.S. Bankruptcy Court for the
District of Puerto Rico has conditionally approved Esteban
Distributor Inc.'s disclosure statement dated Jan. 17, 2017,
referring to the Debtor's plan of reorganization.

A hearing for the consideration of the final approval of the
Disclosure Statement and the confirmation of the Plan and of
objections as may be made to either will be held on Feb. 17, 2017,
at 9:30 a.m.

Acceptances or rejections of the Plan may be filed in writing by
the holders of all claims on or before 14 days prior to the date of
the hearing on confirmation of the Plan.

Any objection to the final approval of the Disclosure Statement and
or the confirmation of the Plan will be filed on or before 14 days
prior to the date of the hearing on confirmation of the Plan.  The
Debtor will file with the Court a statement setting forth
compliance with each requirement in Section 1129, the list of
acceptances and rejections and the computation of the same, within
seven working days before the hearing on confirmation.

Headquartered in Toa Baja, Puerto Rico, Esteban Distributor Inc.
filed for Chapter 11 bankruptcy protection (Bankr. D.P.R. Case No.
16-03799) on May 11, 2016, estimating its assets and liabilities at
between $100,001 and $500,000 each.  Maria Soledad Lozada Figueroa,
Esq., at MS Lozada Law Office serves as the Debtor's bankruptcy
counsel.


EXCO RESOURCES: Receives Noncompliance Notice from NYSE
-------------------------------------------------------
EXCO Resources, Inc., announced that on Jan. 16, 2017, EXCO was
notified by the New York Stock Exchange of its noncompliance with
continued listing standards because the average closing price of
its common shares over a period of 30 consecutive trading days had
fallen below $1.00 per share, which is the minimum average closing
price per share required to maintain listing on the NYSE.

Under the NYSE rules, during the six-month period from the date of
the NYSE notice, EXCO can regain compliance if the price per share
of EXCO's common shares on the last trading day of any calendar
month within such period and the 30 trading day average price per
common share for that month is at least $1.00.  During this period,
subject to EXCO's compliance with other NYSE continued listing
requirements, EXCO's common shares will continue to be traded on
the NYSE under the symbol "XCO" but will have an added designation
of ".BC" to indicate the status of the common shares as below
compliance.

EXCO intends to notify the NYSE of its intent to cure this
noncompliance and is currently exploring its options for regaining
compliance, including a potential reverse share split.  In
addition, EXCO is also currently evaluating transactions that could
further improve liquidity, primarily including the issuance of
additional indebtedness and a potential sale of its South Texas
properties.

EXCO anticipates that the reverse share split, if completed, would
cure the deficiency and the Company would regain compliance with
the NYSE continued listing requirement.  If EXCO is unable to
regain compliance, the NYSE will initiate procedures to suspend and
delist EXCO's common shares.

The NYSE notification does not affect EXCO's business operations or
its Securities and Exchange Commission reporting requirements and
does not conflict with or cause an event of default under any of
the Company's material debt agreements.  Furthermore, the NYSE
notice is not related to the NYSE continued listing requirement
that a listed company have a market capitalization of at least $50
million.  Based on the closing price of the Company's common stock
on Jan. 13, 2017, the last trading day prior to the receipt of the
NYSE notice, the Company's market capitalization was approximately
$251.8 million.  A reverse share split would not be expected to
affect the Company's market capitalization.

                    About EXCO Resources

EXCO Resources, Inc. is an oil and natural gas exploration,
exploitation, development and production company headquartered in
Dallas, Texas with principal operations in Texas, North Louisiana
and the Appalachia region.

Additional information about EXCO Resources, Inc. may be obtained
by contacting Tyler Farquharson, EXCO's Vice President of Strategic
Planning, acting Chief Financial Officer and Treasurer, at EXCO's
headquarters, 12377 Merit Drive, Suite 1700, Dallas, TX 75251,
telephone number (214) 368-2084, or by visiting EXCO's Web site at
http://www.excoresources.com/      

As of Sept. 30, 2016, the Company had $685.99 million in total
assets, $1.52 billion in total liabilities and a total
shareholders' deficit of $837.59 million.

EXCO Resources reported a net loss of $1.19 billion for the year
ended Dec. 31, 2015, following net income of $120.7 million for the
year ended Dec. 31, 2014.

"We have recently experienced losses as a result of the recent
decline in oil and natural gas prices, and, as of December 31,
2015, we had negative shareholders' equity of $662.3 million, which
means that our total liabilities exceeded our total assets. We may
not be able to return to profitability in the near future, or at
all, and the continuing existence of negative shareholders' equity
may limit our ability to obtain future debt or equity financing or
to pay future dividends or other distributions.  If we are unable
to obtain financing in the future, it could have a negative effect
on our operations and our liquidity," the Company stated in its
annual report for the year ended Dec. 31, 2015.

                           *    *    *

As reported by the TCR on Oct. 19, 2016, S&P Global Ratings raised
its corporate credit rating on Dallas-based EXCO Resources Inc. to
'CCC+' from 'SD' (selective default). The outlook is negative.
"The rating action follows our review of EXCO's capital structure
and liquidity position following recent debt repurchases, and our
expectations for future restructuring actions," said S&P Global
credit analyst Christine Besset.

The TCR reported in December 2016 that Moody's Investors Service
downgraded EXCO Resources, Inc.'s (XCO) Corporate Family Rating
(CFR) to Ca from Caa2.  "XCO's downgrade reflects its eroded
liquidity position which is insufficient to fully fund development
expenditures at the level required to stem ongoing production
declines," commented Andrew Brooks, Moody's vice president. "Absent
an injection of additional liquidity, the source of which is not
readily identifiable, EXCO could face going concern risk as it
confronts an unsustainable capital structure."


FAMILY CHIROPRACTIC: Feb. 23 Plan Confirmation Hearing
------------------------------------------------------
The Hon. Catherine Peek McEwen of the U.S. Bankruptcy Court for the
Middle District of Florida has conditionally approved Family
Chiropractic Health Centers, Corp.'s disclosure statement referring
to the Debtor's plan of reorganization.

A hearing to consider the adequacy of the Disclosure Statement and
confirmation of the Plan will be held on Feb. 23, 2017, at 2:00
p.m.

Objections to the approval of the Disclosure Statement and plan
confirmation must be filed no later than seven days prior to the
hearing.

Parties-in-interest will submit to the Clerk's office their written
ballot accepting or rejecting the Plan no later than eight days
before the hearing.

The plan proponent will file a ballot tabulation no later than 96
hours prior to the time set for the hearing.

All creditors and parties in interest that assert a claim against
the Debtor which arose after the filing of this case, including all
professionals seeking compensation from the estate of the
Debtor pursuant to Section 330 of the U.S. Bankruptcy Code, must
file motions or applications for the allowance of claims with the
Court no later than 15 days after the Jan. 18 entry of this court
order.  Any motions or applications filed may be heard at the
confirmation hearing if properly scheduled and noticed by the
applicant.  Any motion or application not heard at the confirmation
hearing will be scheduled for hearing in the normal course.

Three days prior to the confirmation hearing, the plan proponent
will file a confirmation affidavit which will contain the factual
basis upon which the plan proponent relies in establishing that
each of the requirements of Section 1129 of the Bankruptcy Code are
met.

                     About Family Chiropractic

Family Chiropractic Health Centers, Corp., filed a Chapter 11
bankruptcy petition (Bankr. M.D. Fla. Case No. 16-08291) on
Sept. 26, 2016, disclosing under $1 million in both assets and
liabilities. The Debtor is represented by David W. Steen, Esq., at
David W. Steen, P.A.

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


FARMACIA SAN JUSTO: Unsecureds to Recover 30% Under Plan
--------------------------------------------------------
Farmacia San Justo Inc. filed with the U.S. Bankruptcy Court for
the District of Puerto Rico a disclosure statement referring to the
Debtor's plan of reorganization.

Class 3 allowed general unsecured claims are estimated at
$1,112,117.08 and are impaired under the Plan.  Unsecured Claims of
$4,000 or less, will be paid in full satisfaction of said claims
30% thereof on the Effective Date.

Non-Insiders Holders of Allowed General Unsecured Claims in excess
of $4,000 will be paid in full satisfaction of said claims 30%
thereof, through 72 equal consecutive monthly installments of
$4,420.92 commencing on the 30th day of the month following the
Effective Date and continuing on the 30th day of the subsequent 71
months.

The Debtor will effect payment of all allowed administrative
expense claims, priority tax claims, secured and General Unsecured
Claims from the funds generated from its operations, available cash
balance as of the Effective Date and the collection of Debtor's
accounts receivable from health insurance plans.

The Disclosure Statement is available at:

            http://bankrupt.com/misc/prb16-05624-66.pdf

                     About Farmacia San Justo

Farmacia San Justo, Inc., based in Saint Just, Puerto Rico, is a
corporation organized under the laws of Puerto Rico on May 9, 1977,
and engaged in the operations of a pharmacy at Shopping Center
Cuatro Plazas, Road 848, Saint Just Ward, Trujillo Alto, Puerto
Rico.  The Debtor operates a pharmacy which dispenses prescription
drugs and other relates products.  It mainly provides services to
individuals who are receiving health benefits through health
insurers, like private health insurance companies, government
health programs, managed care organizations, and others.

The Debtor filed a Chapter 11 petition (Bankr. D.P.R. Case No.
16-05624) on July 14, 2016.  The petition was signed by Hector O.
Rodriguez, president.

The Debtor tapped Charles Alfred Cuprill, Esq., at Charles A
Cuprill, PSC Law Office, as bankruptcy counsel, and Luis R.
Carrasquillo & Co., P.S.C. as financial consultant.

In its petition, the Debtor estimated $0 to $1.30 million in both
assets and liabilities.


FERRELLGAS PARTNERS: Moody's Rates New $150MM Sr. Notes 'Caa1'
--------------------------------------------------------------
Moody's Investors Service assigned a Caa1 rating to Ferrellgas
Partners L.P's (Ferrellgas) proposed $150 million senior notes
which are an add-on to its existing 8.625% Notes due 2020. Net
proceeds from the new notes will be used to partially pay down
outstanding revolver borrowings at its operating subsidiary,
Ferrellgas LP (OLP). All existing ratings, including the B2
Corporate Family Rating (CFR), are unchanged, and the rating
outlook remains negative.

"Ferrellgas Partners is coming to market to pay down a portion of
existing revolver borrowings at its operating subsidiary,
Ferrellgas LP to relieve some near-term pressure on covenants,"
stated said Arvinder Saluja, Moody's Vice President.

Assignments:

Issuer: Ferrellgas Partners L.P

Senior Unsecured Regular Bond/Debenture, Assigned Caa1(LGD6)

RATINGS RATIONALE

The Caa1 rating on the new $150 million senior unsecured notes
reflects that Ferrellgas' 8.625% senior notes, including this
add-on, are unsecured and unguaranteed, and that the notes are
structurally subordinated to all debt, including trade claims, of
the OLP. The OLP has $500 million in 6.5% senior unsecured notes
due 2021, $475 million 6.75% senior unsecured notes due 2022, $500
million 6.75% senior unsecured notes due 2023, and a $700 million
senior secured revolving credit facility. Under Moody's Loss Given
Default Methodology, the OLP's senior unsecured notes are rated B3,
one notch below the B2 CFR due to the priority claim of the
sizeable senior secured bank facility. The structural subordination
of Ferrellgas' notes and the amount of debt at the OLP result in
8.625% notes being rated Caa1, two notches beneath the B2 CFR.

The B2 CFR reflects Ferrellgas' high financial leverage, diminished
earnings prospects for its midstream businesses in a challenged
commodity price environment, the seasonal nature of propane sales
with significant dependency on cold winter months and the
associated volatility in cash flows, and the inherent risks of the
master limited partnership (MLP) business model, which generally
includes high recurring cash distributions to unitholders. Despite
management's decision to reduce distributions to $0.40/unit from
$2.05/unit, Moody's believe Ferrellgas will not be able to
materially delever quickly, even with a normal or cold winter. The
B2 CFR also considers the increasing customer conservation trends,
the growing use of natural gas as a competing source of energy, and
the ongoing need to make acquisitions to offset secularly declining
volumes. The rating is favorably impacted by the partnership's
substantial scale and geographic diversification that facilitate
cost efficiencies in the fragmented propane distribution industry,
its utility-like services that provide a base level of revenue, and
a propane tank exchange business which generates complementary cash
flows during summer months.

Ferrellgas should have adequate liquidity through calendar 2017 as
indicated by the SGL-3 rating, based on Moody's expectation that
management will increase distributions only when business
fundamentals, financial performance, and leverage improve
meaningfully. Until then, Moody's expect the management to
facilitate some debt reduction and to ensure ongoing compliance
with the credit agreement financial covenants.

The negative outlook reflects Ferrellgas' high leverage and weak
midstream business prospects. Moody's could downgrade the CFR if
Ferrellgas does not maintain reduced distributions or sustain
leverage below 6.5x. An upgrade will be contingent on leverage
approaching 5x with an adequate liquidity profile.

The principal methodology used in this rating was Global Midstream
Energy published in December 2010.

Ferrellgas Partners, LP (Ferrellgas) is a publicly traded master
limited partnership (MLP) based in Overland Park, Kansas.



FIELDPOINT PETROLEUM: Amends Stock Purchase Ageement with HFT
-------------------------------------------------------------
FieldPoint Petroleum Corporation entered into an Amendment No. 1 to
Stock and Mineral Lease Purchase Agreement with HFT Enterprises,
LLC.  The Amendment No. 1:

   (a) extends the date that the second tranche of shares must be
       purchased by from Dec. 31, 2016, to Jan. 15, 2017;

   (b) extends the deadline for HFT to exercise its right to
       purchase an undivided 100% working interest in the
       Company's Elkhorn and JC Kinney leases in the Big Muddy Oil
       Field in Converse County, Wyoming from Dec. 31, 2016, to
       April 1, 2017;

   (c) gives HFT the right to purchase, on or before April 1,
       2017, an undivided 100% working interest in the Company's
       mineral lease covering the Sulimar Field in Chaves County,
       New Mexico for a purchase price to be determined.

                  About Fieldpoint Petroleum

FieldPoint Petroleum Corporation acquires, operates and develops
oil and gas properties.  Its principal properties include Block
A-49, Spraberry Trend, Giddings Field, and Serbin Field, Texas;
Flying M Field, Sulimar Field, North Bilbrey Field, Lusk Field, and
Loving North Morrow Field, New Mexico; Apache Field, Chickasha
Field, and West Allen Field, Oklahoma; Longwood Field, Louisiana;
and Big Muddy Field, Wyoming.  As of Dec. 31, 2015, the Company had
varying ownership interests in 472 gross wells (113.26 net).
FieldPoint Petroleum Corporation was founded in 1980 and is based
in Austin, Texas.

The Company reported a net loss of $10.98 million in 2015 following
a net loss of $1.94 million in 2014.

Hein & Associates LLP, in Dallas, Texas, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2015, citing that the Company has suffered recurring
losses, and has a working capital deficit.  This raises substantial
doubt about the Company's ability to continue as a going concern.


FIELDPOINT PETROLEUM: Sells $398,054 Common Shares
--------------------------------------------------
Effective Jan. 15, 2017, FieldPoint Petroleum Corporation sold an
aggregate of 884,564 shares of its common stock for an aggregate
purchase price of $398,054.  The Shares were sold under the terms
of a Stock and Mineral Interest Purchase Agreement dated Aug. 12,
2016, as amended on Jan. 9, 2017.   

The Shares were sold to three investors each of whom qualified as
an "accredited investor" within the meaning of Rule 501(a) of
Regulation D.  The Shares are "restricted securities" under the
Securities Act of 1933, as amended and the stock certificates
evidencing same shall bear the Company's customary restrictive
legend.

A sales commission of 5% of the gross proceeds of the sale will be
paid to Euro Pacific Capital Inc.

                  About Fieldpoint Petroleum

FieldPoint Petroleum Corporation acquires, operates and develops
oil and gas properties.  Its principal properties include Block
A-49, Spraberry Trend, Giddings Field, and Serbin Field, Texas;
Flying M Field, Sulimar Field, North Bilbrey Field, Lusk Field, and
Loving North Morrow Field, New Mexico; Apache Field, Chickasha
Field, and West Allen Field, Oklahoma; Longwood Field, Louisiana;
and Big Muddy Field, Wyoming.  As of Dec. 31, 2015, the Company had
varying ownership interests in 472 gross wells (113.26 net).
FieldPoint Petroleum Corporation was founded in 1980 and is based
in Austin, Texas.

The Company reported a net loss of $10.98 million in 2015 following
a net loss of $1.94 million in 2014.

Hein & Associates LLP, in Dallas, Texas, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2015, citing that the Company has suffered recurring
losses, and has a working capital deficit.  This raises substantial
doubt about the Company's ability to continue as a going concern.


FINJAN HOLDINGS: Sues Avast for 'Breach of Contract'
----------------------------------------------------
Finjan Holdings, Inc., filed a complaint on Jan. 19, 2017, against
its licensee, Avast Software, and its newly acquired company AVG
Technologies, in the U.S. District Court for the Northern District
of California (Case No. 3:17-cv-00283).  Finjan is suing Avast for
breach of contract and breach of the covenant of good faith and
fair dealing; and both Avast and AVG for willful infringement of
Finjan's patents, including U.S. Patent Nos. 6,154,844; 7,930,299;
7,975,305; 8,079,086; 8,141,154; and 8,677,494.

Finjan entered into a Confidential Patent License, Settlement and
Release Agreement with Avast on Nov. 15, 2015.  Since the Agreement
is confidential, the public version of the Complaint obscures
contract terms cited in support of Finjan's claims.  On July 7,
2016, Avast announced an agreement to acquire AVG for $1.3 billion,
which would result in more than doubling their user base globally.
The acquisition closed on Sept. 30, 2016, and they now functionally
operate as a single company.

"Avast's recent acquisition of AVG triggered certain terms in the
Patent License Agreement that excludes an acquired company's
products as licensed," said Julie Mar-Spinola, CIPO of Finjan
Holdings.  "Furthermore, Finjan had notified AVG that AVG was
infringing its patents nearly nine months prior to the acquisition
being announced.  Consistent with our best practices, Finjan strove
to negotiate a fair value license with Avast to cover such AVG
products to no avail.  Avast's resistance has forced Finjan to
escalate this dispute to the court, in order to preserve the value
of our patent portfolio and stakeholders' related interests."

Finjan has pending infringement lawsuits or appeals against
FireEye, Inc., Sophos, Inc., Symantec Corp., Palo Alto Networks,
Blue Coat Systems, Inc., ESET and its affiliates and Cisco Systems,
Inc. relating to, collectively, more than 20 patents in the Finjan
portfolio.  The court dockets for the foregoing cases are publicly
available on the Public Access to Court Electronic Records (PACER)
website, www.pacer.gov, which is operated by the Administrative
Office of the U.S. Courts.

                         About Finjan

Finjan, formerly known as Converted Organics, is a leading online
security and technology company which owns a portfolio of patents,
related to software that proactively detects malicious code and
thereby protects end-users from identity and data theft, spyware,
malware, phishing, trojans and other online threats.  Founded in
1997, Finjan is one of the first companies to develop and patent
technology and software that is capable of detecting previously
unknown and emerging threats on a real-time, behavior-based basis,
in contrast to signature-based methods of intercepting only known
threats to computers, which were previously standard in the online
security industry.

Finjan Holdings reported a net loss of $12.6 million in 2015, a
net loss of $10.5 million in 2014 and a net loss of $6.07 million
in 2013.

As of Sept. 30, 2016, Finjan had $15.04 million in total assets,
$4.57 million in total liabilities, $13.68 million in redeemable
preferred stock and $3.22 million in stockholders' deficit.


FORBES ENERGY: Unsecureds to Recover 100% Under Plan
----------------------------------------------------
Forbes Energy Services Ltd., et al., filed with the U.S. Bankruptcy
Court for the Southern District of Texas a disclosure statement
dated Dec. 21, 2016, referring to the Debtors' prepackaged joint
plan of reorganization.

Under the Plan, holders of Class 5 General Unsecured Claims --
estimated at approximately $4 million to $8 million -- is
unimpaired, and will receive payment in full under the Plan.

The Plan is supported by the Debtors and the supporting noteholders
representing approximately 65.40% of the allowed senior unsecured
notes claims.  After months of active and arm's-length
negotiations, the Debtors, in consultation with its advisors,
reached agreement on the terms of the Plan with the supporting
noteholders, representing a substantial majority by principal
amount of the Holders of Senior Unsecured Notes Claims.  The
Debtors believe that the Plan is the best restructuring alternative
reasonably available to the Debtors.  Because holders of Senior
Unsecured Notes Claims are the only impaired creditor class under
the Plan, only the holders are entitled to vote on the
Plan.

Through confirmation of the Plan, the Debtors will restructure and
substantially deleverage its balance sheet; obtain new exit
financing on advantageous terms; reduce its cash interest expense
to a level that is aligned with its expected future cash flows; and
retain additional flexibility to invest in growth initiatives to
maximize enterprise value.

The Debtors had outstanding debt having a principal amount of over
$300 million.  Upon emergence from Chapter 11, the Reorganized
Debtors expect to have outstanding debt primarily consisting of
obligations under a contemplated $50 million term loan Exit
Facility.

Pursuant to the Restructuring Support Agreement, the Debtors have
obtained the agreement of Holders of approximately 65.40% in
principal amount of the Senior Unsecured Notes to vote in support
of the Plan.  The Senior Unsecured Notes represent $280 million in
principal obligations owed by the Debtors, plus projected accrued
interest of approximately $32 million as of Jan. 23, 2017.  Under
the Plan, the Senior Unsecured Notes will be exchanged for $20
million in cash and 100% of the New Common Stock in Reorganized
Parent, subject to dilution on account of shares issued or
available for issuance under the Management Incentive Plan.
Allowed Secured Claims either will be reinstated or paid in full
under the Plan.  Equity Interests in FES Ltd., inclusive of the
Existing Preferred Stock, will be extinguished.

The Plan is feasible and will be implemented with existing
cash-on-hand and $50 million of funding under the Exit Facility to
be made available to the Reorganized Debtors by participating
Holders of the Senior Unsecured Notes who become Exit Facility
lenders.  The Exit Facility will be backstopped by certain of the
largest Holders of the Senior Unsecured Notes.

The Debtors have a forbearance agreement in place with the Senior
Secured Lenders through Dec. 28, 2016.  The Debtors are negotiating
an extension of forbearance through Jan. 31, 2017, which the
Debtors expect to execute in the near future.  In the event that
agreement on a forbearance extension is not reached, the Debtors
may be required to repay the revolving advances under the Senior
Secured Loan Agreement, or to commence a bankruptcy case prior to
the conclusion of the solicitation period on the Plan.

The Disclosure Statement is available at:

            http://bankrupt.com/misc/txsb17-20023-8.pdf

The Plan was filed by the Debtors' counsel:

     Phil Snow, Esq.
     Kenneth Green, Esq.
     SNOW SPENCE GREEN LLP
     2929 Allen Parkway, Suite 2800
     Houston, TX 77019
     Tel: (713) 335-4800
     Fax: (713) 335-4902
     E-mail: philsnow@snowspencelaw.com
             kgreen@snowspencelaw.com

          -- and --

      Richard M. Pachulski, Esq.
      Ira D. Kharasch, Esq.
      Maxim B. Litvak, Esq.
      PACHULSKI STANG ZIEHL & JONES LLP
      10100 Santa Monica Boulevard, 13th Floor
      Los Angeles, CA 90067
      Tel: (310) 277-6910
      Fax: (310) 201-0760
      E-mail: rpachulski@pszjlaw.com
              ikharasch@pszjlaw.com
              mlitvak@pszjlaw.com

                       About Forbes Energy

Alice, Texas-based Forbes Energy Services Ltd. (OTC Pink: FESL) --
http://www.forbesenergyservices.com/-- is an independent oilfield

services contractor that provides a broad range of
drilling-related
and production-related services to oil and natural gas companies,
primarily onshore in Texas and Pennsylvania.

The Company's balance sheet at Sept. 30, 2016, showed total
assets of $332.6 million, total liabilities of $337.0 million,
$15.10 million series B senior convertible preferred shares, and a
stockholders' deficit of $19.57 million.

The Debtors' financial advisors is Alvarez & Marsal Holdings, LLC.
The Debtors' investment bankers is Jefferies LLC.  The Debtors'
corporate and securities counsel is Winstead PC.  The Debtors'
solicitation and balloting consultants is Kurtzman Carson
Consultants LLC.

The Debtors had $332.57 million in total assets and $337.03 million
in total debts as of Sept. 30, 2016.


FORMOSA PLANTATION: Taps Breazeale Sachse as Special Counsel
------------------------------------------------------------
Formosa Plantation, LLC seeks approval from the U.S. Bankruptcy
Court for the Eastern District of Louisiana to hire Breazeale,
Sachse & Wilson LLP as its special counsel.

The firm will represent the Debtor in three separate lawsuits
pending before the U.S. District Court for the Eastern District of
Louisiana.  Two of these cases were filed by the Debtor and certain
of its members.

Alan Goodman, Esq., the attorney designated to provide the
services, will be paid an hourly rate of $390.

Mr. Goodman disclosed in a court filing that his firm does not hold
or represent any interest adverse to the Debtor, its bankruptcy
estate and creditors.

Breazeale Sachse can be reached through:

     Alan H. Goodman, Esq.
     Breazeale, Sachse & Wilson LLP
     First Bank & Trust Tower
     909 Poydras Street, Suite 1500
     New Orleans, LA 70112-4004
     Tel: 504-584-5465 / 504-584-5454
     Fax: 504-584-5452
     Email: alan.goodman@bswllp.com

                     About Formosa Plantation

Formosa Plantation, LLC, based in Cut Off, La., filed a Chapter 11
petition (Bankr. E.D. La. Case No. 16-12645) on October 26, 2016.
The Hon. Elizabeth W. Magner presides over the case.  Christopher
T. Caplinger, Esq., at Lugenbuhl, Wheaton, Peck, Rankin & Hubbard,
serves as bankruptcy counsel.

In its petition, the Debtor estimated $1 million to $10 million in
both assets and liabilities.  The petition was signed by Anthony J.
Guilbeau, Jr., member.

A list of the Debtor's 10 unsecured creditors is available
for free at http://bankrupt.com/misc/laeb16-12645.pdf


FORMOSA PLANTATION: Wants Insurance Premium Financing From GTPF
---------------------------------------------------------------
Formosa Plantation, LLC, asks the U.S. Bankruptcy Court for the
Eastern District of Louisiana for authorization to obtain insurance
premium financing from gotoPremiumFinance.com, also known as GTPF.

The Debtor relates that in the ordinary course of business, it
maintains insurance policies providing insurance in amounts and
types of coverage in accordance with the state and local laws, as
well as in accordance with certain contractual obligations and the
operating guidelines and requirements of the Office of the United
States Trustee.

The Debtor tells the Court that its property insurance was
cancelled and there was a lapse in coverage in December 2016 which
ended with the issuance of a new policy by Louisiana Citizens
Property Insurance.  The Debtor further tells the Court that
maintaining such required insurance is crucial to the ability of
the Debtor to continue operating its business.

The Debtor contends that the insurance will bear total premiums of
$2,366 and the payment of that amount from the Debtor's cash on
hand in a single payment would potentially hinder the Debtor's
ability to pay other operational expenses in the ordinary course of
business.  The Debtor further contends that it is necessary for it
to finance the premiums of the subject insurance policy.

The Debtor's obligations under the Premium Finance Agreement
include payment of a cash down payment in the amount of $591.50 and
nine monthly payments in the amount of $210.71 commencing on
January 15, 2017.  The amount financed under the Premium Financing
is $1,774.50, and bears interest at 16.196% per annum.

The Debtor says that it forwarded the down payment required by the
Premium Finance Agreement to the insurance agent on or about
December 16, 2016.  The Debtor further says that its counsel
received a copy of the Premium Finance Agreement and notice of the
down payment on January 10, 2017.

The Debtor's obligations under the Premium Finance Agreement will
be secured by all right, title and interest to the subject
insurance policy, including:

     (a) all money that is or may be due to the Debtor because of a
loss under the subject insurance policy that reduces the unearned
premiums;

     (b) any unearned premium under the subject insurance policy;

     (c) dividends which may become due to the Debtor in connection
with the subject insurance policy; and

     (d) interests arising under any state guarantee fund.

The Debtor asserts that no party currently holds a lien or security
interest over the type of property covered by the Premium Finance
Agreement.

A full-text copy of the Debtor's Motion, dated January 19, 2017, is
available at
http://bankrupt.com/misc/FormosaPlantation2016_1612645_43.pdf

A full-text copy of the Premium Finance Agreement, dated January
19, 2017, is available at
http://bankrupt.com/misc/FormosaPlantation2016_1612645_43_1.pdf

               About Formosa Plantation, LLC

Formosa Plantation, LLC, based in Cut Off, La., filed a Chapter 11
petition (Bankr. E.D. La. Case No. 16-12645) on October 26, 2016.
The petition was signed by Anthony J. Guilbeau, Jr., member.  The
Hon. Elizabeth W. Magner presides over the case.  Christopher T.
Caplinger, Esq., at Lugenbuhl, Wheaton, Peck, Rankin & Hubbard,
serves as bankruptcy counsel.  The Debtor estimated assets and
liabilities at $1 million to $10 million.


FUNCTION(X) INC: Borrows Additional $400,000 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 Jan. 20, 2017, the Company borrowed an additional $400,000 under
the Line of Credit.  The principal amount now outstanding under the
Line of Credit is $4,114,586 and the Company is entitled to draw up
to an additional $885,414 under the Line of Credit.

                    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.


FUNCTION(X) INC: Plans to Offer $10 Million Common Shares
---------------------------------------------------------
Function(x) Inc. filed with the Securities and Exchange Commission
a free writing prospectus dated Jan. 19, 2017, relating to the
proposed offering of $10 million worth of common shares.  The
Company intends to use the proceeds to repay indebtedness and for
general working capital.  Aegis Capital Corp and Laidlaw & Company
(UK) Ltd. serve as joint bookrunning managers.  A full-text copy of
the FWP is available for free at https://is.gd/Y3JwoP

                      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.


GENERAL MOTRIZ: Plan Confirmation Hearing on Feb. 22
----------------------------------------------------
The Hon. Mildred Caban Flores of the U.S. Bankruptcy Court for the
District of Puerto Rico has conditionally approved General Motriz,
Inc.'s disclosure statement dated Jan. 13, 2017, referring to the
Debtor's plan of reorganization.

A hearing for the consideration of the final approval of the
Disclosure Statement and the confirmation of the Plan and of
objections as may be made to either will be held on Feb. 22, 2017,
at 9:00 a.m.

Any objection to the final approval of the Disclosure Statement and
the confirmation of the Plan will be filed on or before 14 days
prior to the date of the hearing on confirmation of the Plan.
Acceptances or rejections of the Plan may be filed in writing by
the holders of all claims on or before 14 days prior to the date of
the hearing on confirmation of the Plan.  The Debtor will file with
the Court a statement setting forth compliance with each
requirement in U.S.C. Section 1129, the list of acceptances and
rejections and the computation of the same, within seven working
days before the hearing on confirmation.

As reported by the Troubled Company Reporter on Jan. 19, 2017, the
Debtor filed with the Court a small business disclosure statement
describing its Chapter 11 plan of reorganization, which proposes to
pay general unsecured creditors $146.04 in 60 equal monthly
installments.  The Plan will be funded with cash available proceeds
from the revenue that the stores generate, after paying operating
expenses and taxes.

                    About General Motriz

General Motriz, Inc., sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D.P.R. Case No. 16-02193) on March 21,
2016.  The Debtor is represented by Victor Gratacos Diaz, Esq., at
Gratacos Law Firm, P.S.C.


GIBRALTAR INDUSTRIES: S&P Raises CCR to 'BB'; Outlook Stable
------------------------------------------------------------
S&P Global Ratings said it raised its corporate credit and debt
ratings on Gibraltar Industries to 'BB' from 'BB-'.  The outlook is
stable.  The recovery rating is '3', reflecting S&P's expectations
of meaningful (50% to 70%; at the higher end of the range) recovery
in the event of default.

Gibraltar Industries demonstrated significant operating performance
improvement in 2016 through a variety of initiatives, including
better raw material sourcing, freight management, and other
logistics.  The profitability of Gibraltar's business has increased
and debt to EBITDA is now below 2x.

"The outlook is stable, reflecting our expectation that Gibraltar
will maintain leverage below 4x over the next 12 months while
continuing to increase market share in its growth-oriented
segments," said S&P Global Ratings credit analyst Thomas O'Toole.

S&P could lower the rating if end market weakness persisted for an
extended period of time and Gibraltar's leverage rose above 4x.
This could happen if demand for Gibraltar's legacy products
continued to lag historical standards and the company lost market
share in its recently acquired business lines.

S&P sees an upgrade in the next 12 months as unlikely due to
Gibraltar's total size and low upside niche markets compared with
other 'BB+' rated companies.  S&P could upgrade Gibraltar in the
long term if it executed an acquisition that increased the overall
size of the business without increasing leverage over 3x.


GOODMAN NETWORKS: S&P Raises CCR to 'CC' Then Withdraws Rating
--------------------------------------------------------------
S&P Global Ratings raised its corporate credit rating on Plano,
Texas-based telecom infrastructure services provider Goodman
Networks Inc. to 'CC' from 'SD'.  The outlook is negative.

In addition, S&P raised its issue-level rating on the company's
senior secured notes to 'CC' from 'D'.

S&P subsequently withdrew all of the ratings at the request of the
issuer.

The upgrade on Goodman reflects S&P's expectation that the company
is current on its interest payments.  On July 7, 2016, S&P had
lowered its rating on Goodman to 'SD' (selective default) following
the company's election to not make its interest payment on its
senior secured notes and to enter into a 30-day-grace period while
it continued to negotiate a debt restructuring with its lenders.
Under S&P's criteria, it views the failure to make an interest
payment within five business days after the due date as tantamount
to a default, regardless of the length of the grace period
contained in the indenture.

The withdrawal follows Goodman's request that S&P withdraw all of
its ratings on the company.


GREAT BASIN: Amends 2016 Notes to Alter Leak-Out Provisions
-----------------------------------------------------------
As previously disclosed on the Current Report on Form 8-K filed
with the Securities and Exchange Commission on June 29, 2016, on
Great Basin Scientific, Inc., entered into a Securities Purchase
Agreement in relation to the issuance and sale by the Company to
certain buyers as set forth in the Schedule of Buyers attached to
the 2016 SPA of $75 million aggregate principal amount of senior
secured convertible notes and related Series H common stock
purchase warrants.

On Jan. 22, 2017, the Company and certain 2016 Note Buyers holding
enough of the 2016 Notes and Series H Warrants to constitute the
required holders under Section 9(e) of the 2016 SPA and Section 19
of the 2016 Notes entered into separate agreements.  Pursuant to
the terms of the Amendment Agreements, all of the 2016 Notes were
amended to alter the leak-out provisions previously added to the
2016 Notes pursuant to the amendment agreements entered into
between the Company and the 2016 Note Buyers on Jan. 18, 2017, as
reported in the Company's Current Report on Form 8-K filed on Jan.
18, 2017.  

Prior to the Amendment Agreements, the 2016 Notes, provided that
during the period commencing on Jan. 18, 2017, and ending with
close of trading on March 1, 2017, exclusive, no holder of 2016
Notes nor any of its affiliates will sell, directly or indirectly,
on any trading day more than its pro rata percentage of 135% of the
trading volume of the Company's common stock, unless the Company's
common stock is then trading above $2.50 (as adjusted for stock
splits, stock dividends, recapitalizations and similar events).

The Amendment Agreements amend the terms of the 2016 Notes to
change the restriction percentage from 135% to zero on Jan. 23,
2017, and from January 24 to March 1, 2017, to the holders pro rata
percentage of 55% of the trading volume of the Company's common
stock, unless the Company's common stock is then trading above
$0.50 (as adjusted for stock splits, stock dividends,
recapitalizations and similar events).

                        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, the auditors said.


GREAT BASIN: Corrects Current Report Over Computational Error
-------------------------------------------------------------
Great Basin Scientific, Inc. filed with the Securities and Exchange
Commission an amendment to its current report on Form
8-K, as originally filed with the SEC on Jan. 20, 2017, to correct
computational errors contained in the original report regarding the
number of shares of common stock issued upon conversion of the
Company's 2016 Notes.

As previously disclosed on the Current Report on Form 8-K filed
with the SEC on Jan. 20, 2017, on Jan. 19, 2017, the Company and
certain 2016 Note Buyers entered into separate amendment agreements
to amend the terms of the 2016 Notes.  As per the terms of the
Amendment Agreement any pre-installment conversion shares
previously issued immediately reduced the principal amount of the
Company's 2016 convertible notes outstanding by $0.044 per
pre-installment conversion share received.  Prior to Jan. 17, 2017,
as previously reported by the Company, the Company had issued
781,627 pre-installment conversion shares and therefore, pursuant
to the Amendment Agreement on Jan. 19, 2017, the principal amount
outstanding of the 2016 Notes was immediately reduced by $34,392
($0.044 per pre-installment conversion share).

On Jan. 17 through Jan. 19, 2017, certain holders of the 2016 Notes
were issued shares of the Company's common stock pursuant to
Section 3(a)(9) of the United States Securities Act of 1933, (as
amended) in connection with the pre-installment amounts converted
for the installment date of Jan. 30, 2017.  In connection with the
pre-installments, the Company issued 6,997,161 shares of common
stock.  As per the terms of the Amendment Agreement on Jan. 19,
2017, the principal amount outstanding of the 2016 Notes was
immediately reduced by $307,875 ($0.044 per pre-installment
conversion share).

On Jan. 20, certain holders of the 2016 Notes were issued shares of
the Company's common stock pursuant to Section 3(a)(9) of the
United States Securities Act of 1933, (as amended) in connection
with conversions at the election of the holder pursuant to the
terms of the 2016 Notes, as amended.  In connection with the
conversions, the Company issued 152,184,956 shares of common stock.
As per the terms of the 2016 Notes, as amended, these
pre-installment shares immediately reduced the principal amount
outstanding of the 2016 Notes by $284,586 or $0.00187 per share.

As of Jan. 20, 2017, a total principal amount of $626,853 of the
2016 Notes has been converted into shares of common stock.
Approximately $74.4 million in note principal remains to be
converted.  Restrictions on a total of $9.8 million in the
Company's restricted cash accounts has been released including $6.0
million at closing and $3.8 million in early release from the
restricted cash accounts. $58.2 million remains in the restricted
cash accounts to have the restrictions removed and become available
to the Company at future dates pursuant to terms of the 2016
Notes.

As of Jan. 20, 2017, there are 160,710,021 shares of common stock
issued and outstanding.

In connection with the conversions of the 2016 Notes, the exercise
prices of certain of our issued and outstanding securities were
automatically adjusted to take into account the conversion price of
the 2016 Notes.  The exercise prices of the following securities
were adjusted as follows.

Class A and Class B Warrants

As of Jan. 20, 2017, the Company had outstanding Class A Warrants
to purchase 48 shares of common stock and Class B Warrants to
purchase 29 shares of common stock of the Company.  The Class A and
Class B Warrants include a provision which provides that the
exercise price of the Class A and Class B Warrants will be adjusted
in connection with certain equity issuances by the Company.  The
consummation of the Conversions triggers an adjustment to the
exercise price of the Class A and Class B Warrants.  Therefore, as
of January 20, 2017, the exercise price for the Class A and Class B
Warrants was adjusted from $2.53 to $0.0019 per share of common
stock.

Common Stock Warrants

As of Jan. 20, 2017, the Company had outstanding certain common
stock warrants to purchase 2 shares of common stock of the Company.
As a result of the Conversions, as of Jan. 20, 2017, the exercise
price for certain Common Warrants was adjusted from $2.53 to
$0.0019 per share of common stock.

Series B Warrants

As of Jan. 20, 2017, the Company has outstanding Series B Warrants
to purchase 36 shares of common stock of the Company.  The Series B
Warrants include a provision which provides that the exercise
prices of the Series B Warrants will be adjusted in connection with
certain equity issuances by the Company.  As a result of the
Conversions, as of Jan. 20, 2017, the exercise price for certain
Common Warrants was adjusted from $27.5 million to $645,355 per
share of common stock.

Series D and 2015 Subordination Warrants

As of Jan. 20, 2017, the Company has outstanding Series D Warrants
to purchase 2,361,468 shares of common stock and 2015 Subordination
Warrants to purchase 71,129 shares of common stock of the Company.
The Series D and 2015 Subordination Warrants include a provision
which provides that the exercise prices of the Series D and 2015
Subordination Warrants will be adjusted in connection with certain
equity issuances by the Company.  The consummation of the
Conversions triggers an adjustment to the exercise price of the
Series D and 2015 Subordination Warrants.  Therefore, as of Jan.
20, 2017, the exercise price for the Series D and 2015
Subordination Warrants was adjusted from $2.53 to $0.0019 per share
of common stock.

Series G Warrants

As of Jan. 20, 2016, the Company had outstanding Series G Warrants
to purchase 159 shares of common stock of the Company.  The Series
G Warrants include a provision which provides that the exercise
price of the Series G Warrants will be adjusted in connection with
certain equity issuances by the Company.  The consummation of the
Conversions triggers an adjustment to the exercise price of the
Series G Warrants.  Therefore, as of Jan. 20, 2017, the exercise
price for the Series G Warrants was adjusted from $2.53 to $0.0019
per share of common stock.

                        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, the auditors said.


HARLAND CLARKE: Moody's Rates New $370MM Term Loan B-6
------------------------------------------------------
Moody's Investors Service assigned a B1 rating to Harland Clarke
Holdings Corp.'s proposed $370 million term loan B-6 due February
2022 and the corporate family rating (CFR) is unchanged at B2. The
existing term loan B-3, B-4, and B-5 and senior secured notes due
in 2018 and 2020 are unchanged at B1 and the senior unsecured notes
due 2021 are unchanged at Caa1. The outlook is stable.

The use of proceeds, along with an anticipated senior secured bond
offering, is expected to repay 2018 debt maturities. Proceeds from
the offerings will also be used to fund OID and transaction fees.
The term loan B-6 will have a 2.5% annual amortization requirement
and matures in February 2022, but the maturity will spring to
November 2020 if the 9.25% senior unsecured notes are still
outstanding. The anticipated transactions would extend the maturity
date of its capital structure so that the next material debt
maturity would be the term loan B-4 which is due in August 2019.
The existing rating of the term loan B-3 will be withdrawn upon
repayment.

The following is a summary of rating actions:

Issuer: Harland Clarke Holdings Corp.

Proposed $370 million term loan B-6 due February 2022, assigned a
B1 (LGD3)

Existing term loan B-3 due May 2018, unchanged at B1 (LGD3)

Existing term loan B-4 due August 2019, unchanged at B1 (LGD3)

Existing term loan B-5 due December 2019, unchanged at B1 (LGD3)

Existing senior secured notes due August 2018, unchanged at B1
(LGD3)

Existing senior secured notes due March 2020, unchanged at B1
(LGD3)

Existing senior unsecured notes due March 2021, unchanged at Caa1
(LGD5)

Corporate Family Rating, unchanged at B2

Probability of Default Rating, unchanged at B2-PD

Outlook Rating, remains at Stable

RATINGS RATIONALE

Harland Clarke's B2 corporate family rating (CFR) reflects Moody's
ongoing concern that the combined business model is subject to
secular decline in both its check printing and Valassis' print
based advertising model. While the decline in checks has moderated,
Moody's expect the business to remain in secular decline due to new
and evolving payment alternatives. The Valassis division faces
pressure from the secular demand shift of advertisers' marketing
spend and distribution to Internet-based / digital media channels,
as well as the ensuing pricing pressure on traditional print-based
media. Moody's anticipate secular pressures to be moderate in the
near term as there will be demand for both products for an extended
period of time, but pressure has the potential to increase over
time. The Scantron division, which is the smallest division, is
also expected to remain under pressure due to the maturity of its
form products. The ratings reflect the company's leverage of 4.6x
for the LTM ended Q3 2016 including Moody's standard adjustments.
The history of sponsor friendly and related party transactions is
also reflected in the rating. Debt maturities in 2019 and 2020,
pro-forma for the proposed term loan and expected note transaction,
lead to moderately elevated refinancing risk and have the potential
to cause negative rating action if not addressed one year prior to
maturity.

Harland Clarke has a good track record of mitigating volume
declines with price increases and costs savings, but Moody's remain
concerned these efforts will not be sufficient to prevent top line
erosion if check volume declines should accelerate in the future.
The acquisition of Valassis has enabled Harland Clarke to diversify
its business lines and expand its customer base for which Valassis
provides advertising and media delivery campaigns via its Shared
Mail, Freestanding Inserts, and its smaller Digital Media
businesses. Moody's considers client spend to be cyclical but
believes the consumer value-oriented nature of the product
offerings (including promotions and coupons) somewhat dampens the
cyclicality since advertisers often reallocate marketing budgets to
this type of advertising during economic downturns. Harland Clarke
has achieved meaningful operational cost synergies and Moody's
anticipate additional costs savings to be realized going forward.
The ratings are also supported by the company's good cash flow
generation from its portfolio of businesses, EBITDA margins of 19%
(as calculated by Moody's), and the 10% debt amortization
requirement on the term loan B-5 and 2.5% requirement on the B-3,
B-4, and proposed B-6 which accelerates debt repayment.

The stable outlook reflects Moody's expectation that Harland Clarke
will continue to generate good cash flow over the next 12 -18
months, seek to reinvest cash through acquisitions and investments,
and utilize cash to fund required term loan amortization payments.
Moody's also expect total leverage will be in the mid 4x level over
the next twelve months aided by required debt repayments.

Harland Clarke is expected to have good liquidity due to good free
cash flow and a cash balance of $62 million as of Q3 2016. The
company also has a $150 million asset backed revolver with $138
million of availability after accounting for $12 million of L/Cs
outstanding as of Q3 2016. The asset back revolver matures in
February 2018 and Moody's expect the company will look to extend
the maturity or refinance the facility in the near term. Interest
coverage ratios are expected to be approximately 2.4x going
forward. The term loans are covenant lite.

The anticipated transactions extend the maturity date of its debt
structure so that the next debt maturities will be the B-4 term
loan due August 2019 ($559 million) and B-5 in December 2019 ($780
million). The balances are expected to decline quarterly due to the
above average amortization payments on the B-4 (2.5% annually) and
B-5 (10% annually) term loans. Inability to refinance its debt in
advance of one year prior to maturity could lead us to reassess the
company's liquidity position.

Ratings could be upgraded if the company demonstrates stable
organic revenue and EBITDA trends and leverage declines below 4x on
a sustained basis with all near term maturities addressed.
Confidence that the company would maintain financial policies that
keep leverage below 4x on an ongoing basis would also be required.

Failure to address approaching maturities in advance of one year
prior to maturity could lead to a downgrade. A downgrade could also
occur if results suffer from accelerated deterioration in price or
volume in its check business, demand and/ or pricing for Valassis'
print-based marketing products erode at a faster-than-expected
pace, a loss of market share, debt funded acquisitions, or
distributions to the parent company that result in debt-to-EBITDA
increasing above 5.5x. A weak liquidity position could also lead to
a downgrade.

The principal methodology used in this rating was Global Publishing
Industry published in December 2011.

Harland Clarke Holdings Corp. ("Harland Clarke"), headquartered in
San Antonio, TX, is a provider of check and check related products,
direct marketing services and customized business and home office
products to financial services, retail and software providers as
well as consumers and small businesses, and through its Scantron
division, data collection, testing products, scanning equipment and
tracking services to educational, commercial, healthcare and
government entities. Its Valassis division offers clients mass
delivered and targeted programs to reach consumers primarily
consisting of shared mail, newspaper and digital delivery in
addition to coupon clearing and other marketing and analytical
services. M&F Worldwide Corp. ("M&F") acquired check and related
product provider Clarke American Corp. in December 2005 for $800
million and subsequently acquired the John H. Harland Company in
May 2007 for $1.4 billion. M&F merged the two companies to form
Harland Clarke. M&F's remaining publicly traded shares were
acquired by portfolio company, MacAndrews & Forbes Holdings, Inc.
("MacAndrews") on December 21, 2011. MacAndrews is wholly owned by
Ronald O. Perelman. Harland Clarke acquired Valassis
Communications, Inc. on February 4, 2014. Reported revenue for the
last twelve months ending Q3 2016 was $3.5 billion.


HARLAND CLARKE: S&P Assigns 'BB-' Rating on $370MM Sr. Sec. Loan
----------------------------------------------------------------
S&P Global Ratings assigned its 'BB-' issue-level rating and '2'
recovery rating to Harland Clarke Holdings Corp.'s (HCHC's)
proposed $370 million senior secured term loan B-6 due February
2022.  The '2' recovery rating indicates S&P's expectation for
substantial recovery (70%-90%; lower half of the range) of
principal in the event of a payment default.

The company will use the net proceeds from the proposed financing
to extend its debt maturity profile by repaying maturities due in
2018.

S&P's 'B+' corporate credit rating and stable rating outlook on the
company are not affected by the proposed transaction.  S&P expects
that HCHC's adjusted leverage will remain in the high-4x area in
2016 and then decline to the mid- to high-4x area in 2017 after the
company pays roughly $100 million of required principal
amortization payments.  S&P continues to expect HCHC to generate
good discretionary cash flow and refinance or extend its upcoming
debt maturities at similar interest rates at least 12 months before
maturity.

RATINGS LIST

Harland Clarke Holdings Corp.
Corporate Credit Rating                B+/Stable/--

New Ratings

Harland Clarke Holdings Corp.
Senior Secured
  $370 mil B-6 term loan due Feb 2022   BB-
   Recovery Rating                      2L


HIGHLANDS OF DYERSBURG: U.S. Trustee Unable to Appoint Committee
----------------------------------------------------------------
An official committee of unsecured creditors has not yet been
appointed in the Chapter 11 case of The Highlands of Memphis, LLC,
The Highlands of Dyersburg, LLC, and Regional Healthcare Services,
LLC, as of Jan. 24, according to a court docket.

The Highlands of Memphis, LLC dba The Highlands of Memphis Health &
Rehab, The Highlands of Dyersburg, LLC, and Regional Healthcare
Services, LLC, each filed Chapter 11 petitions (Bankr. W.D. Tenn.
Case No. 16-30025, 16-30096, and 16-30027, respectively), on Oct.
31, 2016.  The petitions were signed by Denny R. Barnett, chief
manager.  The cases are assigned to Judge David S. Kennedy.  

At the time of filing, The Highlands of Memphis estimated assets
and liabilities at $1 million to $10 million each, while Regional
Healthcare Services estimated assets and liabilities at $0 to
$50,000.

The Highlands of Memphis is a Tennessee limited liability company
whose activities are centered on the delivery of long term
healthcare and skilled nursing care to individual patient
residents.


HIGHLANDS OF MEMPHIS: U.S. Trustee Unable to Appoint Committee
--------------------------------------------------------------
An official committee of unsecured creditors has not yet been
appointed in the Chapter 11 case of The Highlands of Memphis, LLC,
and The Highlands of Dyersburg, LLC, as of Jan. 24, according to a
court docket.

The Highlands of Memphis, LLC, d/b/a The Highlands of Memphis
Health & Rehab, The Highlands of Dyersburg, LLC, and Regional
Healthcare Services, LLC, each filed Chapter 11 petitions (Bankr.
W.D. Tenn. Case No. 16-30025, 16-30096, and 16-30027,
respectively), on Oct. 31, 2016.  The petitions were signed by
Denny R. Barnett, chief manager.  The cases are assigned to Judge
David S. Kennedy.  

At the time of filing, The Highlands of Memphis estimated assets
and liabilities at $1 million to $10 million each, while Regional
Healthcare Services estimated assets and liabilities at $0 to
$50,000.

The Highlands of Memphis is a Tennessee limited liability company
whose activities are centered on the delivery of long term
healthcare and skilled nursing care to individual patient
residents.


HOMER CITY: U.S. Trustee Unable to Appoint Committee
----------------------------------------------------
An official committee of unsecured creditors has not yet been
appointed in the Chapter 11 case of Homer City Generation, L.P., as
of Jan. 24, according to a court docket.

               About Homer City

Homer City Generation, L.P., is the owner of a coal-fired,
independent power production plant located in Homer City,
Pennsylvania, about 45 miles east of Pittsburgh.

Non-debtor EFS Homer City, LLC, owns 95.04% of the partnership
interests of Homer City.  Metropolitan Life Insurance Company,
which is also not a Debtor in these cases, owns 4.96% of the
partnership interests of Homer City.

Homer City filed a voluntary case under Chapter 11 of the
Bankruptcy Code  (Bankr. D. Del. Case No. 17-10086) on Jan. 11,
2017.  The case has been assigned to Judge Mary F. Walrath. At the
time of filing, the Debtor estimated assets at $1 billion to $10
billion and liabilities at $500 million to $1 billion.

The Debtor is represented by Joseph Charles Barsalona II, Esq.,
Mark D. Collins, Esq., Andrew Dean, Esq., and Russell C.
Silberglied, Esq., at Richards; PJT Partners serves as its
financial advisor and Zolfo Cooper as its restructuring advisor.
Epiq Bankruptcy Solutions, LLC, serves as the Debtor's claims and
administrative advisor.  

O'Melveny and Myers LLP and Young Conaway Stargatt & Taylor, LLP,
are serving as legal advisors to the ad hoc group of noteholders
and Houlihan Lokey is serving as the financial advisor to the ad
hoc group of noteholders.


HORIZON GLOBAL: Possible Equity Raise No Impact on Moody's B2 CFR
-----------------------------------------------------------------
Moody's Investors Service says that Horizon Global Corporation's
potential raise of $75 million in equity and $100 million in
convertible notes is credit positive because it would reduce debt,
leverage and interest expense. The company plans to use the
majority of proceeds from both issuances to pay down its existing
$330.2 million term loan. If executed as planned, the transaction
could result in an upgrade of the senior secured first lien term
loan rating to B1 from the current rating of B2. Nevertheless it
does not impact the Horizon's B2 Corporate Family Rating (CFR),
B2-PD Probability of Default Rating or its stable rating outlook
because debt-to-EBITDA leverage remains within the range expected
for the B2 CFR and liquidity is adequate.

Horizon, headquartered in Troy, Michigan, is a manufacturer and
distributor of towing, trailer, cargo management and other products
primarily for the automotive market. In October 2016, Horizon
acquired WESTFALIA-Automotive Holding GmbH and its sister company
TeIJs Holdings B.V. Pro-forma for the acquisition, Horizon's main
geographic regions include US (approximately 50% of LTM June 2016
revenue), Europe (34%) and Australia (9%). Horizon was spun off
from TriMas Corporation in June 2015. Pro-forma for the
acquisitions, revenue for the 12 months ended September 2016 was
approximately $840 million.


HUNTINGTON INGALLS: Moody's Alters Outlook to Pos & Affirms Ba1 CFR
-------------------------------------------------------------------
Moody's Investors Service has changed the rating outlook of
Huntington Ingalls Industries, Inc. to positive from stable, and
affirmed all ratings including the Corporate Family Rating ("CFR")
of Ba1.

RATINGS RATIONALE

As a major US Navy shipbuilder, the positive rating outlook
recognizes HII's revenue opportunity under a potentially larger
Navy fleet. This is incremental to Moody's expectation of a low
double digit operating margin with strong operating cash flow.

Also, HII's recent public statements about investments somewhat
lessens the prospect of a transformational acquisition outside the
core federal contracting business or one which could be highly
leveraging, in Moody's view. The acquisition risk is further
mitigated by the recently formed technical services segment, which
will have revenue of about $1 billion following the Camber
Corporation acquisition. A large supply of services providers
exists across the defense, intelligence and civil federal services
market that could be complementary, and also diversify capabilities
and the revenue base. Uncertainty associated with the risk of a
large acquisition has constrained upward rating potential.

Over time, HII would benefit from a larger naval fleet. The US Navy
recently raised its desired fleet size to 355 ships from 308 ships
(against 274 ships at present). However, this fleet plan has not
been authorized, and US fiscal pressures still cloud the prospect
for what would require significant future funding. The Department
of Defense could attempt to fill the military requirement through
alternate means. As well, achieving the desired fleet size would
take quite some time.

Should funding be in place for the Navy's desired force structure
(nearly a 30% increase from the present fleet), HII's revenue
opportunity would improve significantly. Yet, HII would have
different operational challenges in such conditions which could
affect costs, such as a with a rising technical work force, and
would also increase working capital.

The Ba1 CFR incorporates strong credit metrics, backlog of $20
billion and HII's production of prioritized ship classes for the US
Navy—including aircraft carriers, large surface combatants,
submarines, amphibious ships. At September 30, 2016 debt to EBITDA
stood at 2.5x with free cash flow to debt above 20%. Rising
complexity within the global threat environment should minimally
sustain backlog at around $20 billion in coming years with revenue
in the low $7 billion range.

The Speculative Grade Liquidity rating of SGL-1, denoting a strong
liquidity profile, reflects a high cash balance, likelihood of free
cash flow generation near-term in excess of $300 million, and ample
covenant compliance headroom under the (presently unused) $1.25
billion revolving credit facility.

The ratings could be upgraded depending on HII's risk tolerance in
light of expansion opportunities. Ability to effectively manage
costs and working capital in a rising revenue environment to
preserve profits and cash flow would be an important consideration.
Also, expectation of sustained debt/EBITDA below 2.5x,
EBIT/interest approaching 5x, and Retained Cash Flow/debt of 25% or
higher, and a return on capital consistent with others at a higher
rating could result in a higher rating.

The ratings could be downgraded with weakening liquidity,
expectation of debt/EBITDA above 3x, a material degree of backlog
erosion, or financial policy aggressiveness such as large debt
financed acquisitions or significantly increased level of stock
repurchases/dividends (particularly if debt funded).

Huntington Ingalls Industries, Inc. (HII), through its Newport
News, VA and Pascagoula MS shipyards, provides full service design,
engineering, construction, and lifecycle support of major surface
ship programs for the US Navy. Revenues over the twelve months
ended September 30, 2016 were approximately $7.1 billion.

Outlook Actions:

Issuer: Huntington Ingalls Industries, Inc.

-- Outlook, Changed To Positive From Stable

Affirmations:

Issuer: Huntington Ingalls Industries, Inc.

-- Probability of Default Rating, Affirmed Ba1-PD

-- Speculative Grade Liquidity Rating, Affirmed SGL-1

--  Corporate Family Rating , Affirmed Ba1

-- Senior Secured Bank Credit Facility, Affirmed Baa2 (LGD2)

-- Senior Unsecured Regular Bond/Debentures, Affirmed Ba2 (LGD4)

Issuer: Mississippi Business Finance Corporation

-- Backed Senior Unsecured Revenue Bonds, Affirmed Ba2 (LGD4)

The principal methodology used in these ratings was Global
Aerospace and Defense Industry published in April 2014.


IE TEST: Seeks to Hire Bederson as Valuation Expert
---------------------------------------------------
IE Test, LLC seeks approval from the U.S. Bankruptcy Court for the
District of New Jersey to hire a valuation expert.

The Debtor proposes to hire Bederson LLP to prepare a valuation
report on its assets as part of its efforts to get court approval
for its Chapter 11 plan.

The hourly rates charged by the firm are:

     Partners                 $390 - $515
     Managers                 $300 - $325
     Senior Accountants              $260
     Semi Sr. Accountants     $220 - $225
     Staff Accountants               $180
     Paraprofessionals               $165

Timothy J. King, a certified public accountant employed with
Bederson, disclosed in a court filing that his firm is
"disinterested" as defined in section 101(14) of the Bankruptcy
Code.

The firm can be reached through:

     Timothy J. King
     Bederson LLP
     347 Mt. Pleasant Avenue, Suite 200
     West Orange, NJ 07052
     Phone: 973-736-3333
     Fax: 973-736-9219
     Email: Matthew.schwartz@bederson.com
     Email: tking@bederson.com

                        About IE Test LLC

Headquartered in Fairfield, New Jersey, IE Test, LLC, filed for
Chapter 11 bankruptcy protection (Bankr. D. N.J. Case No. 15-32425)
on Nov. 30, 2015, listing $1.09 million in total assets and $2.25
million in total liabilities.  The petition was signed
by Patrick Cupo.  

Judge Vincent F. Papalia presides over the case.  Jay L. Lubetkin,
Esq., and Barry J. Roy, Esq., at Rabinowitz Lubetkin & Tully,
L.L.C., serve as the Debtor's bankruptcy counsel.


INTERPACE DIAGNOSTICS: Offering $4 Million Worth of Common Stock
----------------------------------------------------------------
Interpace Diagnostics Group, Inc., has entered into a securities
purchase agreement with three institutional investors to purchase
an aggregate of 855,000 shares of common stock in a registered
direct offering.  In a concurrent private placement, the Company
has agreed to sell to the same investors warrants to purchase
855,000 shares of its common stock with an exercise price of $4.69
per share.  The combined purchase price for one registered share of
common stock and one warrant is $4.69.  The warrants will be
immediately exercisable following the closing of the private
placement and will expire on the five-year anniversary of the date
on which they become exercisable.

The aggregate gross proceeds to the Company from the registered
direct offering and concurrent private placement are estimated to
be approximately $4 million before deducting the placement
agent’s fee and other estimated offering expenses.  The
registered direct offering and concurrent private placement are
expected to close on or about Jan. 25, 2017, subject to customary
closing conditions.

The Company intends to use the aggregate net proceeds from the
registered direct offering and concurrent private placement for
working capital, repayment of indebtedness, including approximately
$1.028 million to be paid to five former senior executives in
satisfaction and settlement of approximately $2.9 million in
severance obligations, and general corporate purposes.

Maxim Group LLC is acting as the exclusive placement agent for the
registered direct offering and the concurrent private placement.

                 About Interpace Diagnostics

Headquartered in Parsippany, New Jersey, Interpace Diagnostics
Group, Inc., is focused on developing and commercializing molecular
diagnostic tests principally focused on early detection of high
potential progressors to cancer and leveraging the latest
technology and personalized medicine for patient diagnosis and
management.  The Company currently has four commercialized
molecular tests: PancraGen, a pancreatic cyst molecular test that
can aid in pancreatic cyst diagnosis and pancreatic cancer risk
assessment utilizing the Company's proprietary PathFinder platform;
ThyGenX, which assesses thyroid nodules for risk of malignancy,
ThyraMIR, which assesses thyroid nodules risk of malignancy
utilizing a proprietary gene expression assay.

Interpace reported a net loss of $11.35 million in 2015 following a
net loss of $16.07 million in 2014.

As of Sept. 30, 2016, the Company had $45.96 million in total
assets, $47.44 million in total liabilities and a total
stockholders' deficit of $1.47 million.

BDO USA, LLP, in Woodbridge, New Jersey, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2015, citing that the Company has suffered recurring
losses from continuing operations that raise substantial doubt
about its ability to continue as a going concern.


IOWA HEALTHCARE: Committee Taps Pepper Hamilton as Legal Counsel
----------------------------------------------------------------
The official committee of unsecured creditors of Central Iowa
Healthcare seeks approval from the U.S. Bankruptcy Court for the
Southern District of Iowa to hire legal counsel.

The committee proposes to hire Pepper Hamilton LLP to give legal
advice regarding its duties under the Bankruptcy Code, assist in
negotiations on the formulation of a bankruptcy plan, analyze
claims, assist in its consultations with the Debtor, and provide
other legal services.

Pepper Hamilton has agreed to discount its rates by 15%.  In case
general unsecured creditors receive at least a 50% dividend, the
firm may apply to recover the discount subject to approval by the
committee and the court.

The attorneys and paralegal who will represent the committee and
their hourly rates are:

     Francis Lawall          $785
     Deborah Kovsky-Apap     $600
     John Schanne II         $475
     Susan Henry             $275

Pepper Hamilton is a "disinterested person" as defined in section
101(14) of the Bankruptcy Code, according to court filings.

The firm can be reached through:

     Francis J. Lawall, Esq.
     Pepper Hamilton LLP
     3000 Two Logan Square
     Eighteenth and Arch Streets
     Philadelphia, PA 19103-2799
     Phone: 215-981-4481 / 215-981-4000    
     Fax: 215-981-4750
     Email: lawallf@pepperlaw.com

                  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.  It 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.  Its 49-bed, acute
care facility is the only full-service medical center in the area.

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.

CIH sought Chapter 11 protection (Bankr. S.D. Iowa Case No.
16-02438) on Dec. 20, 2016.  The petition was signed by Dawnett
Willis, acting CEO.  The Debtor disclosed $81.91 million total
assets and $20.02 million total liabilities.

The case is assigned to Judge Anita L. Shodeen.  The Debtor hired
Bradshaw,Fowler, Proctor & Fairgrave, P.C. as its legal counsel,
and Alvarez & Marsal Healthcare Industry Group, LLC as its
financial advisor.

The U.S. Trustee for the Southern appointed Susan N. Goodman as the
patient care ombudsman for CIH.

On December 28, 2016, the U.S. Trustee appointed an official
committee of unsecured creditors.


IOWA HEALTHCARE: Taps Wang Kobayashi as Employee Benefits Counsel
-----------------------------------------------------------------
Central Iowa Healthcare seeks approval from the U.S. Bankruptcy
Court for the Southern District of Iowa to hire Wang Kobayashi
Austin, LLC as special counsel.

The firm will provide legal advice regarding the employee benefit
plans maintained by the Debtor, and will be paid an hourly rate of
$375 for its services.

Wang Kobayashi does not hold any interest adverse to the Debtor or
its bankruptcy estate, and is a "disinterested person" as defined
in section 101(14) of the Bankruptcy Code, according to court
filings.

The firm can be reached through:

     Andy Wang, Esq.
     Wang Kobayashi Austin, LLC
     216 West Institute Place, Suite 406
     Chicago, IL 60610
     Phone: (312) 833-5300
     Email: andywang@wkalegal.com

                  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.  It 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.  Its 49-bed, acute
care facility is the only full-service medical center in the area.

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.

CIH sought Chapter 11 protection (Bankr. S.D. Iowa Case No.
16-02438) on Dec. 20, 2016.  The petition was signed by Dawnett
Willis, acting CEO.  The Debtor disclosed $81.91 million total
assets and $20.02 million total liabilities.

The case is assigned to Judge Anita L. Shodeen.  The Debtor hired
Bradshaw,Fowler, Proctor & Fairgrave, P.C. as its legal counsel,
and Alvarez & Marsal Healthcare Industry Group, LLC as its
financial advisor.

The U.S. Trustee for the Southern appointed Susan N. Goodman as the
patient care ombudsman for CIH.

On December 28, 2016, the U.S. Trustee appointed an official
committee of unsecured creditors.


J&C OILFIELD: Secured Creditors to be Paid Monthly with Interest
----------------------------------------------------------------
J&C Oilfield Rentals, LLC, filed with the U.S. Bankruptcy Court for
the Western District of Louisiana a first amended disclosure
statement dated Jan. 18, 2017, referring to the Debtor's plan of
reorganization.

The Plan proposed the following treatment of secured creditors:

A. Treatment of Class 1.  The Debtor will satisfy the secured claim
of the Citizens Progessive Bank
by paying $10,000.00 per month until this claim is paid in full.
The claim will continue to bear interest at the contract rate of
interest.  The first installment will begin 60 days after the
effective date of this Plan, and the Debtor will make subsequent
installments on or before the 30th day of each month following the
month of the first installment.

B. Treatment of Class 2.  The secured claim of Allied Bank, secured
by a 2014 GMC Sierra Truck, will receive payments in the amount of
$885.00 per month until paid in full.  This claim will continue to
bear interest at the contract rate of interest.

C. Treatment of Class 3.  The secured claims of Integrity Factoring
and Consulting, Inc., have been paid in full pursuant to adequate
protection order entered by the Bankruptcy Court in this case.
This creditor's claims primed the claims of Citizens Progressive
Bank.

D. Treatment of Class 4.  The secured claim of CAT Financial, Inc.,
secured by Freightliner Water Truck, Model WATER4000, will be paid
in full at the contract rate of interest by monthly payments of
$1,000.00 per month until paid in full.

The Plan's proposed treatment of Class 5, which contains general
unsecured claims against the Debtor, general unsecured claims will
be paid 10% of their claims over a 10-year period with no interest,
with monthly payments to start 60 days from the confirmation of
this Plan.

Payments and distributions under the Plan will be funded by the
ongoing operations of the business, as well as contributions, if
needed by the insiders of the Debtor.

The First Amended Disclosure Statement is available at:

           http://bankrupt.com/misc/lawb16-80783-94.pdf

A copy of the previous disclosure statement is available at:

           http://bankrupt.com/misc/lawb16-80783-93.pdf
         
                    About J&C Oilfield Rentals

J&C Oilfield Rentals, LLC, was organized under the laws of the
State of Louisiana on July 11, 2008, and operated as a lessor of
equipment to the oil and gas industry.  The two members of the
Company are Joey Nugent and his father in law, Curtis Sandidge.

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


JACOBS ENTERTAINMENT: Moody's Rates New $340MM 2nd Lien Notes 'B2'
------------------------------------------------------------------
Moody's Investors Service, assigned a B2 rating to Jacobs
Entertainment, Inc. proposed $340 million guaranteed senior secured
second lien notes due 2024 and affirmed the company's Corporate
Family rating at B2 and Probability of Default rating at B2-PD.
Moody's affirmed Jacobs' existing revolver, and first and second
lien term loans ratings that will be withdrawn upon closing of the
proposed note offering. The new rating is subject to final terms
and conditions as well as closing of a proposed $50 million first
priority five year revolving credit facility (unrated).

The affirmation reflects Jacobs' improving margins, stable
operating results, and the reduction of refinancing risk as a
result of the note offering. The affirmation also reflects Moody's
view that the proposed acquisitions and development plans in Black
Hawk, CO (54% of property EBITDA) and Reno, NV (11% of property
EBITDA) will add incremental earnings over the next two years to
support the increase in debt.

The proceeds of the new notes will be used to repay the company's
existing debt, including fees and expenses ($293.6M) and fund (1)
pending acquisitions ($39M), (2) a hotel management agreement
buyout ($2.5M), (3) a distribution to the company's parent, Jacobs
Investments, Inc. (JII) ($2.5M) and supplement cash balances
($2.3M). As a result, total debt will increase by approximately $56
million. Moody's estimates Jacobs pro-forma debt/EBITDA will
increase to 6.0x from 5.2x as of LTM 9/30/2016 while EBIT/Interest
will remain around 1.4x.

Over the next 24 months, Jacobs will increase capital spending to
invest in existing and acquired properties. Moody's expects the
company can fund a significant portion of its spending plans from
free cash flow with potentially modest draws under the revolver.
Moody's estimates debt/EBITDA will peak at around 6.2 times in 2017
and decline to below 6.0x by year end 2018.

The largest acquisition ($30M) is for the Sands Regency Hotel and
Casino located in Reno Nevada that is expected to close in the
second half of 2017. Gross gaming revenue in the Reno market is up
about 2.8% as of 9/30/16 and the local economy is expected to
benefit from business expansion. Moody's expects Jacobs will
generate incremental EBITDA, net of new lease payments to JII, to
support the acquisition debt. Jacobs will distribute $8 million of
the proceeds to JII to support its purchase of the Canyon property
and about 3.5 acres of land adjacent to the company's existing
property in Black Hawk, CO. Jacobs will lease these properties from
JII. Jacobs plans to spend approximately $45 million over the next
two years to expand parking for its existing properties and to
renovate, expand and reopen as the expanded Gilpin. These
investments will add incremental EBITDA, net of new lease payments
to JII, and better position Jacobs to withstand new supply entering
Black Hawk in 2019.

The new notes will be issued pursuant to rule 144A and the company
will not be required to complete a registered exchange offer for
file a registration statement for resale of the notes.

Assignments:

Issuer: Jacobs Entertainment, Inc.

-- Proposed Senior Secured guaranteed second lien Bond/Debenture,
Assigned B2 (LGD4)

Outlook Actions:

Issuer: Jacobs Entertainment, Inc.

-- Outlook, Remains Stable

Affirmations:

-- Issuer: Jacobs Entertainment, Inc.

-- Probability of Default Rating, Affirmed B2-PD

-- Corporate Family Rating, Affirmed B2

Affirmations and ratings to be withdrawn when the proposed offering
closes:

-- Issuer: Jacobs Entertainment, Inc.

-- Secured First Lien Bank Credit Facility, Affirmed B1 (LGD3)

-- Senior Secured Second Lien Bank Credit Facility, Affirmed Caa1
(LGD5)

RATINGS RATIONALE

Jacobs' B2 Corporate Family Rating reflects its small scale in
terms of revenue and EBITDA and its geographic earnings
concentration - The Lodge Casino in Black Hawk and its truck stops
in Louisiana account for close to 80% of the company's revenue and
earnings. The rating also reflects the company's low operating
margins compared to other gaming operators due to its mix of low
margin non-gaming revenues such as fuel and convenience store sales
at truck stops, and the expected increase in supply in Black Hawk,
CO in the first quarter of 2019. Positive rating factors include
the company's established market positions in its primary markets
and its good liquidity profile.

Rating Outlook

The stable rating outlook reflects Moody's expectation that Jacobs
will continue to generate cash flow over the next 12 to 24 months
sufficient to substantially funds its growth capex plans, the
proposed acquisitions of casino properties in Black Hawk, CO and
Reno, NV close as planned and generate incremental earnings to
support the increase in debt.

What Could Change the Rating - Up

A ratings upgrade would require debt/EBITDA approaching 4.5 times
and EBIT/interest maintained above 2.5 times.

What Could Change the Rating - Down

Jacobs' ratings could be downgraded if the proposed acquisitions do
not close as anticipated or if leverage were to exceed 6.25x or if
EBIT/interest drops well below 1.5 times over the next 12 to 24
months. Weakening of the company's liquidity position could also
pressure the ratings.

The principal methodology used in these ratings was "Global Gaming
Industry" published in June 2014.


JACOBS ENTERTAINMENT: S&P Affirms 'B' CCR on Proposed Refinancing
-----------------------------------------------------------------
S&P Global Ratings affirmed its 'B' corporate credit rating on
Colorado-based gaming operator Jacobs Entertainment Inc.  The
rating outlook is stable.

S&P is raising its issue-level rating on Jacobs' amended
$50 million first-lien revolving credit facility due 2022 by one
notch to 'BB' from 'BB-' and revising S&P's recovery rating on this
debt to '1+' from '1', indicating its expectation of full (100%)
recovery for lenders in the event of a payment default.

At the same time, S&P is assigning Jacobs' proposed $340 million
second-lien secured notes due 2024 an issue-level rating of 'B' and
a recovery rating of '3', indicating S&P's expectation for
meaningful (50% to 70%; lower half of the range) recovery for
noteholders in the event of a default.

The stable outlook reflects S&P's expectation that although
leverage will temporarily increase in 2017 as a result of the
planned transactions, S&P anticipates leverage to improve to the
mid-5x in 2018 driven largely by EBITDA growth resulting from
planned investments in the portfolio.  S&P expects EBITDA coverage
of interest to remain above 2x and liquidity to remain adequate
which further support S&P's stable outlook.

S&P could lower its rating if EBITDA declines meaningfully because
of increased competitive pressures or planned capital spending
results in greater than anticipated disruption to operations
leading to EBITDA coverage of interest declining closer to the
mid-1x area or leverage is sustained closer to 7x.

Given S&P's expectations for leverage to remain above 5x and FFO to
debt below 12% through 2018, higher ratings are unlikely at this
time.  However, S&P could consider higher ratings if the company
outperforms its expectations, sustaining leverage below 5x and FFO
to debt above 12%.


KEMET CORP: Rama Marda Reports 7.2% Equity Stake as of Dec. 31
--------------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, Rama S Marda disclosed that as of Dec. 31, 2016, she
beneficially owns 3,359,374 shares of common stock of Kemet
Corporation representing 7.26 percent of the shares outstanding.  A
full-text copy of the regulatory filing is available at:

                     https://is.gd/uFoAeV

                         About KEMET

KEMET, based in Greenville, South Carolina, is a manufacturer and
supplier of passive electronic components, specializing in
tantalum, multilayer ceramic, film, solid aluminum, electrolytic,
and paper capacitors.  KEMET's common stock is listed on the NYSE
under the symbol "KEM."

KEMET reported a net loss of $53.6 million on $735 million of net
sales for the fiscal year ended March 31, 2016, compared with a
net loss of $14.1 million on $823 million of net sales for the
fiscal year ended March 31, 2015.

As of Sept. 30, 2016, Kemet Corp had $677.0 million in total
assets, $594.1 million in total liabilities and $82.88 million in
total stockholders' equity.

                           *     *     *

KEMET carries a 'Caa1' corporate family rating, with stable
outlook, from Moody's and a 'B-' issuer credit rating with stable
outlook from Standard and Poor's.


KEURIG GREEN: Moody's Raises Corporate Family Rating to Ba2
-----------------------------------------------------------
Moody's Investors Service has upgraded ratings of Keurig Green
Mountain, Inc., including its Corporate Family Rating to Ba2 from
Ba3, Probability of Default Rating to Ba3-PD from B1-PD and senior
secured bank debt ratings to Ba2 from Ba3. The ratings outlook is
stable.

The ratings upgrade reflects significant improvement in
profitability and cash flow that Keurig has achieved since being
acquired by JAB Holdings in March 2016. At closing, financial
leverage was high -- debt/EBITDA was approximately 5.5x. Keurig has
since repaid approximately $750 million, or 13%, of its debt and
increased trailing-twelve-months EBITDA by about 20%. As a result,
Moody's expects that Keurig will reduce and sustain debt/EBITDA
comfortably below 4.0x in fiscal 2017 and beyond.

Keurig continues to expand profit margins even in a competitive
pricing environment through improvements in operating processes and
organizational streamlining. The company also avoided around $250
million in net operating losses and capital investments related to
the first-generation Keurig Kold system that the new senior
management discontinued shortly after taking the helm. Keurig's
debt reduction has been fueled in part by significant working
capital reductions, a core element of parent company JAB Holdings'
investment thesis. Moody's estimates that these reductions alone
will contribute up to $1 billion to the company's operating cash
flow this year.

RATINGS RATIONALE

Keurig's Ba2 Corporate Family Rating reflects the company's
expanding base of category-leading Keurig single-cup brewers, which
in turn drive sales of high-margin single-serve portion packs that
generate the company's earnings and cash flows. The ratings also
are supported by the company's moderate financial leverage and a
balanced financial policy that has allocated most of free cash flow
to debt reduction. These credit strengths are balanced against
growing competitive pressures in the single-serve coffee portion
pack business that has led to a gradual decline in the company's
growth rate and category profit margins. However, as the overall US
single serve coffee segment continues to grow, albeit at a slowing
rate, Moody's expect that Keurig will continue to maintain over 80%
segment market share through its strong portfolio of over 75 owned
and licensed coffee bands. This along with ongoing operational
improvements should allow Keurig to sustain sales and earnings
growth for the foreseeable future.

Keurig Green Mountain

Ratings upgraded:

Corporate Family Rating to Ba2 from Ba3;

Probability of Default Rating to Ba3-PD from B1-PD;

Senior secured bank credit facilities to Ba2 (LGD3) from Ba3
(LGD3).

The rating outlook is stable.

Keurig's all-secured debt capitalization consists of approximately
$4.8 billion of term loans due in 2021 and 2023 and $300 million
drawn under a $500 million revolving credit facility expiring in
2021.

The Ba2 senior secured bank debt instrument ratings reflect an
above-average mean family recovery estimate of 65% in line with
Moody's LGD Methodology and typical treatment for an all-first-lien
bank senior secured debt capital structure.

The bank facilities are secured by a first priority lien on
substantially all of the assets of Keurig and domestic subsidiaries
and by 65% of the capital stock of Keurig's non-US subsidiaries
(principally, the Canadian operations). The domestic subsidiaries,
which are guarantors under the agreement, generate approximately
80% of total revenues and EBITDA.

Ratings could be upgraded if Keurig sustains stable operating
performance and is likely to sustain debt/EBITDA below 3.0x.
Ratings could be downgraded if liquidity erodes significantly
and/or Keurig faces deteriorating operational performance such that
debt/EBITDA is sustained above 4.0 times.

The principal methodology used in these ratings was Global Packaged
Goods published in January 2017.

Keurig Green Mountain, Inc., based in Waterbury, Vermont, is a
manufacturer of Keurig single serve brewing systems and beverages,
including specialty coffee, tea and other beverages, in single
serve packs for use with its brewers. The company generated annual
sales of approximately $4.5 billion. Keurig is wholly-owned by JAB
Holding Company S.a.r.l. ("JAB Holding"), which acquired the
company in March 2016 for $13.9 billion.

JAB Holding (Baa1 negative) is a privately held investment holding
company, focused on long-term investments in consumer goods and
retail companies with premium brands. JAB's key investments in
terms of market value include: Reckitt Benckiser Group Plc (A1
stable), in consumer health and hygiene products; Coty Inc. (Ba1
stable), in fragrances, cosmetics and body care; and Jacobs Douwe
Egberts International B.V. (Ba3 positive) in coffee and tea.


KSM INTERNATIONAL: Seeks to Hire Berg Hill as Special Counsel
-------------------------------------------------------------
KSM International, LLC seeks approval from the U.S. Bankruptcy
Court in Colorado to hire Berg Hill Greenleaf & Ruscitti, LLP as
special counsel.

Berg Hill will provide legal services in connection with a lawsuit
involving the Debtor and a certain Debra Wickman in the Boulder
County District Court.

Giovanni Ruscitti, Esq., the attorney designated to represent the
Debtor, will be paid an hourly rate of $400.

Mr. Ruscitti disclosed in a court filing that his firm does not
hold any interest adverse to the Debtor's bankruptcy estate or any
of its creditors.

Berg Hill can be reached through:

     Giovanni Ruscitti, Esq.
     Berg Hill Greenleaf & Ruscitti, LLP
     1525 17th Street
     Denver, CO 80202
     Phone: 303-402-1600
     Fax: 303-402-1601
     Email: info@bhgrlaw.com

                     About KSM International

KSM International, LLC sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Colo. Case No. 16-20499) on October 25,
2016.  The petition was signed by Kristin Morelli, manager.  

The Debtor is represented by Kutner Brinen P.C.  Brock and Company
CPAs, PC serves as its accountant.

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


KUEHG CORP: S&P Affirms 'B' Rating on 1st Lien Debt Facilities
--------------------------------------------------------------
S&P Global Ratings affirmed its 'B' issue-level rating on KUEHG
Corp.'s senior secured first-lien debt facilities, which include an
$80 million revolving credit facility due 2020 and $887 million
outstanding under the term loan due 2022, following the company's
proposed $200 million incremental debt issuance.  The '3' recovery
rating remains unchanged, indicating S&P's expectation for
meaningful recovery (50%-70%; lower half of the range) of principal
in the event of a payment default.

The company will use the add-on proceeds to fully repay the
outstanding $200 million second-lien term loan.  S&P will withdraw
its ratings on the second-lien term loan credit facility following
its repayment.

RATINGS LIST

KUEHG Corp.
Corporate Credit Rating        B/Stable/--

Ratings Affirmed; Recovery Expectations Revised
                                                To    From
KUEHG Corp.
Senior Secured
  $80 million rev credit fac due 2020           B     B
   Recovery Rating                              3L    3H
  $895 million term loan due 2022               B     B
   Recovery Rating                              3L    3H


LA PALOMA GENERATING: U.S. Trustee Unable to Appoint Committee
--------------------------------------------------------------
An official committee of unsecured creditors has not yet been
appointed in the Chapter 11 case of La Paloma Generating Company,
LLC, et al., as of Jan. 24, according to a court docket.

                  About La Paloma Generating

La Paloma Generating Company, LLC, a D.C.-based merchant power
generator, and its affiliates La Paloma Acquisition Co, LLC, and
CEP La Paloma Operating Company, LLC filed separate Chapter 11
bankruptcy petitions (Bankr. D. Del. Case Nos. 16-12700 to
16-12702) on Dec. 6, 2016.  The Hon. Christopher S. Sontchi
presides over the cases.  The petitions were signed by Niranjan
Ravindran, as authorized person.

The Debtors are represented by John J. Rapisardi, Esq., and George
A. Davis, Esq., at O'Melveny & Myers LLP, as lead bankruptcy
counsel; and Mark D. Collins, Esq., Andrew Dean, Esq., and Jason M.
Madron, Esq., at Richards, Layton & Finger, P.A., as Delaware
counsel.  Lawyers at Curtis, Mallet-Prevost, Colt & Mosle LLP serve
as conflicts counsel.  Jefferies LLC serves as the Debtors'
financial advisor and investment banker, while their claims and
noticing agent is Epiq Bankruptcy Solutions.  Alvarez & Marsal
North America, LLC, as financial advisor

La Paloma Generating estimated $100 million to $500 million in
assets and $500 million to $1 billion in liabilities.


LIMITED STORES: U.S. Trustee Forms Five-Member Committee
--------------------------------------------------------
Andrew Vara, acting U.S. trustee for Region 3, on Jan. 24 appointed
five creditors of Limited Stores Company, LLC, and its
debtor-affiliates to serve on the official committee of unsecured
creditors.

The committee members are:

     (1) LF Centennial PTE LTD
         Attn: David Levinson
         1359 Broadway No. 18
         New York, NY 10018
         Tel: (646) 839-7789

     (2) LLS Freight aka Mast Logistics Services, Inc.
         Attn: Timothy Faber
         2 Limited Parkway
         Columbus, Ohio 43230-1445
         Tel: (614) 415-7135

     (3) Tru Fragrance & Beauty LLC
         Attn: Brad Wallace
         7725 S. Quincy Street
         Tel: (4630) 563-4125
         Fax: (630) 321-0000

     (4) Simon Property Group, Inc.
         Attn: Ronald Tucker
         225 W. Washington Street
         Indianapolis, IN 46204
         Tel: (317) 563-2346
         Fax: (317) 263-7901

     (5) GGP Limited Partnership
         Attn: Julie Minnick Bowden
         110 N. Wacker Drive
         Chicago, IL 60606
         Tel: (312) 960-2707
         Fax: (312) 442-6374

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 Limited Stores

Limited Stores Company, LLC, Limited Stores, LLC, and The Limited
Stores GC, LLC, filed a voluntary petition under Chapter 11 of the
Bankruptcy Code in the U.S. Bankruptcy Court for the  District of
Delaware (Bankr. D. Del. Lead Case No. 17-10124) on Jan. 17, 2017,
blaming, among other things, the shift of consumer preference from
shopping at brick and mortar stores to online shopping.

Limited Stores Company, LLC, Limited Stores, LLC, and The Limited
Stores GC, LLC, comprise a multi-channel retailing company
operating under the name "The Limited," which specializes in the
sale of women's clothing.  

Founded in 1963 as a single store, the Debtors expanded over the
past five decades to become a household name throughout the United
States for women's apparel.  At its peak, the Debtors operated
approximately 750 retail brick and mortar store locations in the
United States as well as an e-commerce channel, which was
accessible through the Debtors' website at www.TheLimited.com.

Klehr Harrison Harvey Branzburg LLP serves as the Debtors' counsel.
Guggenheim Securities, LLC, serves as the Debtors' investment
banker.  RAS Management Advisors, LLC, acts as the Debtors'
restructuring advisor.  Donlin, Recano & Company, Inc. serves as
the Debtors' notice, claims and balloting agent.

The Debtor estimated $10 million to $50 million in assets and $100
million to $500 million in liabilities.

The petitions were signed by Timothy D. Boates, authorized
signatory.


LIONBRIDGE TECHNOLOGIES: Moody's Assigns B2 CFR; Outlook Stable
---------------------------------------------------------------
Moody's Investors Service assigned Lionbridge Technologies, Inc.
the following ratings- B2 Corporate Family Rating ("CFR"), B2-PD
Probability of Default Rating ("PDR"), Ba3 to first lien credit
facilities (revolving credit facility and first lien term loan),
and Caa1 to senior secured second lien term loan. The rating
outlook is stable.

The proceeds from the new debt issuance will be used to fund the
$360 million acquisition of Lionbridge stock by H.I.G. Capital ,
refinance existing net debt of approximately $79 million, and pay
acquisition related fees and other expenses.

Issuer: Lionbridge Technologies, Inc.

Assignments:

-- Corporate Family Rating, Assigned at B2

Probability of Default Rating, Assigned B2-PD

$40 Million Senior Secured First Lien Revolving Credit Facility due
2022, Assigned at Ba3 (LGD3)

$200 Million Senior Secured First Lien Term Loan due 2024, Assigned
at Ba3 (LGD3)

$85 Million Senior Secured Second Lien Term Loan due 2025, Assigned
at Caa1 (LGD5)

-- Outlook, Assigned at Stable

RATINGS RATIONALE

The B2 CFR reflects Lionbridge's concentrated business profile and
moderately high financial leverage. Lionbridge's top four customers
represented 37% of total revenue in 2015, with Microsoft
representing 15% of total revenue as of the twelve months ended
September 30, 2016. While the company has recently announced a
number of new contract wins, the risk of contract downsizing or
termination at maturity by its large customers represents a key
rating constraint. As such, the B2 rating reflects Moody's
expectation that Lionbridge will reduce adjusted debt to EBITDA to
the mid-4 times level by the end of 2017 and continue to diversify
its revenue stream through expansion into new end markets and
growing its new, albeit small, OnDemand business (a self-service
portal targeting smaller customers or project needs). Moody's
expects Lionbridge to generate revenue in excess of $500 million
over the next year and use positive free cash flow to support debt
reduction.

Also supporting the rating is Lionbridge's market leadership in the
highly fragmented localization and translation industry, a strong
and stable base of recurring customers, and a crowd network
business model that supports a variable cost model. Moody's views
Lionbridge's long-standing base of Fortune 500 customers and robust
crowd network as a key competitive advantage and barrier in the
localization and translation industry. While Lionbridge's revenue
continues to grow, the company faces a technologically evolving
environment, including advanced artificial intelligence translation
technology which can change how service is delivered for parts of
the translation industry.

Moody's considers Lionbridge's liquidity to be adequate, supported
by expectations of annual free cash flow of at least $10 million
and a fully available and undrawn $40 million senior secured
revolver due 2022.

The Ba3 rating on the first lien term loan and revolving credit
facility reflects both the PDR of B2-PD and the loss given default
assessment of LGD3, reflecting the first lien term loan and first
lien revolver's senior priority lien over the second lien term
loan. The second lien term loan is rated at Caa1 with a loss given
default assessment of LGD5 reflecting a subordinate lien on the
collateral securing the first lien obligations and the expectation
of relatively weak recovery prospects in a distress scenario.

The stable rating outlook reflects Moody's expectations for low
single digit revenue growth, free cash flow of at least $10
million, and that Lionbridge will continue to slowly diversify into
higher margin end markets such as life sciences, legal, and
financial services.

The ratings could be upgraded if Lionbridge achieves double digit
revenue growth and sustains adjusted EBITDA margins above 10%,
while maintaining adjusted debt to EBITDA below 3.5 times on a
sustained basis.

The ratings could be downgraded if adjusted debt to EBITDA is
expected to be sustained over 4.5 times, financial policies become
more aggressive with debt funded dividend payments or acquisitions,
or the company fails to maintain free cash flow to adjusted debt of
at least the low single digits.

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

Lionbridge Technologies, Inc. is the market leader in the
localization and translation industry providing translation,
marketing, content management, and testing services to customers
worldwide.



LSB INDUSTRIES: Amends Revolver Loan Agreement with Wells Fargo
---------------------------------------------------------------
LSB Industries, Inc., and each of the Company's subsidiaries
entered into a third amended and restated loan and security
agreement, with the lenders and Wells Fargo Capital Finance, LLC,
as the arranger and administrative agent.  The Amendment, which is
dated effective as of Jan. 17, 2017, amends and restates the
Company's existing working capital revolver.

The Company and all of the Company's existing subsidiaries, other
than Zena Energy LLC, are co-borrowers under the Working Capital
Revolver.  The total revolver commitments as of the closing date
are equal to $50 million.  Interest accrues on outstanding
borrowings under the Working Capital Revolver at a rate equal to,
at the Company's election, either (a) LIBOR for an interest period
selected by the Company plus an applicable margin equal to 1.50%
per annum or 1.75% per annum, depending on borrowing availability
under the Working Capital Revolver or (b) Wells Fargo's prime rate
plus an applicable margin equal to 0.50% per annum or 0.75% per
annum, depending on borrowing availability under the Working
Capital Revolver.  In addition, unused line fees in an amount equal
to 0.25% per annum on the average daily balance of the unused
revolver commitments under the Working Capital Revolver are payable
by the Company, as well as customary fees in respect of letters of
credit.

Advances under the Working Capital Revolver are based on specified
percentages of eligible accounts receivable and inventories.  The
Working Capital Revolver provides for a subfacility for the
issuances of up to letters of credit in an aggregate amount not to
exceed to $10 million, with the outstanding amount of any such
letters of credit reducing availability for borrowings under the
Working Capital Revolver.  The maturity date of the Working Capital
Revolver is Jan. 17, 2022, with a springing earlier maturity date
that is 90 days prior to the maturity date of the Company's
existing senior notes, to the extent the Senior Notes are not
refinanced or repaid prior to the Springing Maturity Date. The
Working Capital Revolver does not include any amortization, and all
borrowings under the Working Capital Revolver are due on the
relevant maturity date.

The Amendment also provides for a springing financial covenant,
which requires that, if the borrowing availability is less than or
equal to the greater of 10.0% of the total revolver commitments and
$5 million, then the borrowers must maintain (a) with respect to
relevant periods ending on or prior to Sept. 30, 2017, a minimum
EBITDA in the amount set forth in the Amendment and (b) with
respect to relevant periods ending after Sept. 30, 2017, a minimum
fixed charge coverage ratio of not less than 1.00:1.00. The
Financial Covenant, if triggered, is tested monthly.

The Amendment includes other customary representations and
warranties, affirmative covenants, negative covenants and events of
default.  Upon the occurrence of events of default, the obligations
under the Working Capital Revolver may be accelerated and the
revolver commitments may be terminated.

Obligations under the Working Capital Revolver are secured by a
first priority security interest in substantially all of the
borrowers' current assets, including accounts receivable and
inventory, with exceptions set forth in the Amendment and related
loan documents.

                  About LSB Industries, Inc.

Oklahoma City-based LSB Industries, Inc. (NYSE:LXU) and its
subsidiaries are involved in
manufacturing and marketing operations.  LSB is primarily engaged
in the manufacture and sale of chemical products and the
manufacture and sale of water source and geothermal heat pumps and
air handling products.

LSB reported a net loss attributable to common stockholders of
$38.03 million in 2015, net income attributable to common
stockholders of $19.33 million in 2014 and net income attributable
to common stockholders of $54.66 million in 2013.

As of Sept. 30, 2016, LSB had $1.38 billion in total assets,
$727.61 million in total liabilities and $137.98 million in
redeemable preferred stock, and $520 million in total stockholders'
equity.

                         *    *    *

In October 2016, S&P Global Ratings lowered its rating on LSB
Industries to 'CCC' from 'B-'.  "Despite using the climate control
business sale proceeds to repay some debt, the company's metrics
have weakened due to plant operational issues and a depressed
pricing environment, which have led to depressed EBITDA
expectations," said S&P Global Ratings credit analyst Allison
Schroeder.

In November 2016, Moody's Investors Service downgraded LSB's
corporate family rating (CFR) to 'Caa1' from 'B3', its probability
of default rating to 'Caa1-PD' from 'B3-PD', and the $375 million
guaranteed senior secured notes to 'Caa1' from 'B3'.  LSB's Caa1
CFR rating reflects Moody's expectations that the combined
uncertainty over operational reliability and the compressed
margins, resulting from the low nitrogen fertilizer
pricing environment, could result in continued weak financial
metrics for a protracted period.


LUKE'S LOCKER: Voluntary Chapter 11 Case Summary
------------------------------------------------
Debtor: Luke's Locker Incorporated
           aka Luke's Locker
           aka Luke's
        5717 Legacy Road, Suite 180
        Plano, TX 75024

Case No.: 17-40126

Chapter 11 Petition Date: January 24, 2017

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

Judge: Hon. Brenda T. Rhoades

Debtor's Counsel: Melissa S. Hayward, Esq.
                  FRANKLIN HAYWARD LLP
                  10501 N. Central Expry, Ste. 106
                  Dallas, TX 75231
                  Tel: 972-755-7104
                  Fax: 972-755-7114
                  E-mail: MHayward@franklinhayward.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Matthew Lucas, president and CEO.

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

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

          http://bankrupt.com/misc/txeb17-40126.pdf


LUTER ENTERPRISES: Hearing on Disclosures Set for March 2
---------------------------------------------------------
The Hon. Paul M. Glenn of the U.S. Bankruptcy Court for the Middle
District of Florida will hold on March 2, 2017, at 9:30 a.m. a
hearing to consider the approval of Luter Enterprises, LLC's
disclosure statement referring to the Debtor's plan of
reorganization.

Objections to the Disclosure Statement must be filed seven days
before the hearing.

Headquartered in Jacksonville, Florida, Luter Enterprises, LLC --
aka Studio City, Gump Sport Photography, Photo Solutions
Marketplace, Spotlight Photographics, Studiostyles.net, and Graphic
Authority -- filed for Chapter 11 bankruptcy protection (Bankr.
M.D. Fla. Case No. 15-01963) on April 29, 2015, estimating its
assets and liabilities at between $1 million and $10 million each.
The petition was signed by Michael A. Luter, managing member.

Robert A Heekin, Jr., Esq., at Thames Markey And Heekin, PA, serves
as the Debtor's bankruptcy counsel.


MEMORIAL PRODUCTION: Receives Delisting Notice from NASDAQ
----------------------------------------------------------
Memorial Production Partners LP received a letter from the Listing
Qualifications Department of The NASDAQ Stock Market LLC on Jan.
17, 2017, notifying the Partnership that as a result of the Chapter
11 cases, and in accordance with NASDAQ Listing Rules 5101, 5110(b)
and IM-5101-1, NASDAQ has determined that the Partnership's common
units representing limited partner interests will be delisted from
The NASDAQ Stock Market.

Accordingly, unless the Partnership requests an appeal of this
determination, trading of the common units will be suspended at the
opening of business on Jan. 26, 2017, and a Form 25-NSE will be
filed with the Securities and Exchange Commission, which will
remove the Partnership's securities from listing and registration
on The Nasdaq Stock Market.

As disclosed on Dec. 19, 2016, the common units had also previously
fallen below the NASDAQ's continued listing standard in NASDAQ
Listing Rule 5450(a)(1) requiring listed companies to maintain an
average closing price per share of not less than $1.00 over a
consecutive 30 trading-day period.

The Partnership currently intends to request an appeal of this
determination.

                     About Memorial Production

Memorial Production Partners LP, et al., operate an energy business
focused on the acquisition, development, exploitation, and
production of oil and natural gas properties.

Memorial Production has leasehold working interests in
approximately 2,433 producing oil and gas wells and owned interests
in approximately 399,000 gross acres.  It employs approximately 291
individuals.  The Company maintains operational control over
approximately 96% of their proved reserves.

On Jan. 16, 2017, Memorial Production and 14 of its subsidiaries
voluntarily filed petitions under Chapter 11 of the Bankruptcy Code
(Bankr. S.D. Tex. Lead Case No. 17-30248), with a Chapter 11 plan
of reorganization that returns 100 cents on the dollar to general
unsecured creditors.

The Chapter 11 cases are assigned to Judge Jeff Bohm.

The Debtors engaged Weil, Gotshal & Manges LLP as counsel, Perella
Weinberg Partners LP as investment banker, Alixpartners, LLP as
restructuring advisor and Rust Consulting/Omni Bankruptcy as
claims, noticing and solicitation agent.



MEMORIAL PRODUCTION: Taps Rust Omni as Claims Noticing Agent
------------------------------------------------------------
Memorial Production Partners LP, et al., seek authorization from
the U.S. Bankruptcy Court for the Southern District of Texas to
employ Rust Consulting/Omni Bankruptcy as claims, noticing, and
solicitation agent, effective January 17, 2017 petition date.

The Debtors require Rust Omni to:

   (a) assist the Debtors with the preparation and distribution of

       all required notices and documents in accordance with the
       Bankruptcy Code and the Bankruptcy Rules in the form and
       manner directed by the Debtors or the Court, including,
       without limitation: (a) notices of objections to claims and

       objections to transfers of claims, (b) notices of any
       hearings on a disclosure statement and confirmation of any
       plan or plans of reorganization, including under Bankruptcy

       Rule 3017(d), (b) notice of the effective date of any plan,

       and (d) all other notices, orders, pleadings, publications
       and other documents as the Debtors, Court, or Clerk may
       deem necessary or appropriate for an orderly administration

       of these chapter 11 cases, including through email or other

       electronic means;

   (b) if necessary, maintain an official copy of the Debtors'
       schedules of assets and liabilities and statements of
       financial affairs (collectively, the "Schedules"), listing
       the Debtors' known creditors and the amounts owed thereto;

   (c) if necessary, maintain, update, and make available upon
       request by a party-in-interest or the Clerk (a) a list of
       all potential creditors, equity holders and other
       parties-in-interest and (b) a "core" mailing list
       consisting of all parties described in Bankruptcy Rule
       2002(i), (j), and (k) and those parties that have filed a
       notice of appearance pursuant to Bankruptcy Rule 9010;
       update and make said lists available upon request by a
       party-in-interest or the Clerk;

   (d) identify and correct any incomplete or incorrect addresses
       in any mailing or service lists;

   (e) monitor the Court's docket for all notices of appearance,
       address changes, and claims-related pleadings and orders
       filed and make necessary notations on or changes to Rust
       Omni's unofficial claims register and any service or
       mailing lists, including to identify and eliminate
       duplicative names and addresses from such lists;

   (f) if necessary, furnish a notice to all potential creditors
       of the last date for filing proofs of claim and a form for
       filing a proof of claim, after such notice and form are
       approved by the Court, and notify said potential creditors
       of the existence, amount and classification of their
       respective claims as set forth in the Schedules, which may
       be effected by inclusion of such information on a
       customized proof of claim form provided to potential
       creditors;

   (g) maintain a post office box or address for the purpose of
       receiving returned mail, and process all mail received;

   (h) for all notices, motions, orders or other pleadings or
       documents served, prepare and file or cause to be filed
       with the Clerk an affidavit or certificate of service no
       more frequently than every seven days that includes (a)
       either a copy of the notice(s) served or the docket
       numbers and titles of the pleadings served for the
       preceding seven days, (b) a list of persons to whom it was
       mailed with their addresses, (c) the manner of service, and

       (d) the date served;

   (i) forward all claims received by Rust Omni that were not
       filed with the Clerk at least weekly;

   (j) assist in the dissemination of information to the public
       and respond to requests for administrative information
       regarding these chapter 11 cases as directed by the Debtors

       or the Court, including through the use of a case website
       or call center;

   (k) monitor the Court's docket in these chapter 11 cases and,
       when filings are made in error or containing errors, alert
       the filing party of such error and work with them to
       correct any such error;

   (l) assist the Debtors with plan-solicitation services
       including: (a) balloting, (b) distribution of applicable
       solicitation materials, (c) tabulation and calculation of
       votes, (d) determining with respect to each ballot cast,
       its timeliness and its compliance with the Bankruptcy Code,

       Bankruptcy Rules, and procedures ordered by this Court; (e)

       preparing an official ballot certification and testifying,
       if necessary, in support of the ballot tabulation results;
       and (f) in connection with the foregoing services, process
       requests for documents from parties in interest, including,

       if applicable, brokerage firms, bank back-offices and
       institutional holders;

   (m) provide such other processing, solicitation, balloting and
       other administrative services described in the Engagement
       Agreement that may be requested from time to time by the
       Debtors, the Court or the Clerk;

   (n) if necessary, assist with the preparation of the Debtors'
       schedules of assets and liabilities and statements of
       financial affairs and gather data in conjunction therewith;

   (o) if necessary, provide a confidential data room; and

   (p) if necessary, manage and coordinate any distributions
       pursuant to a chapter 11 plan.

Rust Omni will be paid at these hourly rates:

       Clerical Support          $20
       Project Specialists       $45
       Project Supervisors       $65
       Consultants               $80
       Technology/Programming    $90
       Senior Consultants        $125

In addition, Rust Omni agreed to reduce, by up to $25,000, its
overall bill for services rendered on behalf of the Companies
pursuant to 28 U.S.C. section 156(c).  For all services rendered,
Rust Omni required a $25,000 deposit.

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

Paul H. Deutch, executive managing director of Rust Omni, 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.

Rust Omni can be reached at:

       Paul H. Deutch
       RUST CONSULTING/OMNI BANKRUPTCY
       1120 Avenue of the Americas, 4th Floor
       New York, NY 10036
       Tel: (212) 302-3580
       Fax: (212) 302-3820

             About Memorial Production Partners LP

Memorial Production Partners LP -- http://www.memorialpp.com/-- is
a publicly traded partnership engaged in the acquisition,
production and development of oil and natural gas properties in the
United States. MEMP's properties consist of mature, legacy oil and
natural gas fields. MEMP is headquartered in Houston, Texas.

Memorial Production Finance Corporation filed a Chapter 11 petition
(Bankr. S.D. Tex. Case No. 17-30248) on January 16, 2017.

The Debtors are represented by Alfredo R. Perez, Esq., at Weil,
Gotshal & Manges LLP, in Houston, Texas; and Gary T. Holtzer, Esq.,
and Joseph H. Smolinsky, Esq., at Weil, Gotshal & Manges LLP, New
York.  The Debtors' financial advisor is Perella Weinberg Partners
LP.  The Debtors' Restructuring Advisor is Alixpartners, LLP.  The
Debtors' claims, noticing, and solicitation agent is Rust
Consulting/Omni Bankruptcy.

At the time of filing, the Debtors had estimated assets of $1
billion to $10 billion and estimated debts of $1 billion to $10
billion.


MIDDLE GEORGIA CENTER: Hires Boyer Law as Attorneys
---------------------------------------------------
Middle Georgia Center for Cosmetic Dentistry, PC seeks
authorization from the U.S. Bankruptcy Court for the Middle
District of Georgia to employ Boyer Law Firm, LLC as attorneys.

The Debtor requires Boyer Law to:

   (a) give the Debtor legal advice with respect ot its powers and

       duties as Debtor-in-Possession in the continued operation
       of its business and management of its property;

   (b) prepare on behalf of the Debtor, as Debtor-in-Possession,
       necessary applications, answers, reports, and other legal
       papers;

   (c) prepare motions, pleadings, and applications, and to
       conduct examinations incidental to the administration of
       the Debtor's estate;

   (d) take any and all necessary action instant to the proper
       preservation and administration of the estate;

   (e) assist the Debtor-in-Possession with the preparation and
       filing of a Statement of Financial Affairs and Schedules
       and Lists as are appropriate;

   (f) take whatever action is necessary with reference to the use

       by the Debtor of its property pledged as collateral,
       including cash collateral, to preserve the same for the
       benefit of the Debtor;

   (g) assert, as directed by the Debtor, all claims the Debtor
       has against others; and

   (h) perform all other legal services for the Debtor which may
       be necessary; and it is necessary for the Debtor-in-
       Possession to employ attorneys for such professional
       services.

Wesley J. Boyer will represent the Debtor at an hourly rate of $340
per hour.

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

The Debtor paid a prepetition advance deposit of $1,717, and $1,717
was applied to prepetition expenses.

Wesley J. Boyer, member of Boyer Law, 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.

Boyer Law can be reached at:

       Wesley J. Boyer, Esq.
       BOYER LAW FIRM, LLC
       348 Cotton Avenue, Suite 200
       Macon, GA 31201
       Tel: (478) 742-6481
       E-mail: Wes@WesleyJBoyer.com

Middle Georgia Center for Cosmetic Dentistry, P.C., based in
Warner, Ga., filed a Chapter 11 petition (Bankr. M.D. Ga. Case No.
16-52588) on December 16, 2016.  Wesley J. Boyer, Esq., at Boyer
Law Firm, LLC, serves as bankruptcy counsel.

In its petition, the Debtor estimated $100,000 to $500,000 in
assets and $1 million to $10 million in liabilities.  The petition
was signed by Curtis O. Hayslip, president.

A list of the Debtor's six unsecured creditors is available for
free at http://bankrupt.com/misc/gamb16-52588.pdf


MISSION NEWENERGY: Had A$549,000 in Cash at Dec. 31
---------------------------------------------------
Mission NewEnergy Limited filed with the U.S. Securities and
Exchange Commission its quarterly report for entities subject to
Listing Rule 4.7B for the period ended Dec. 31, 2016.

As the beginning of the quarter, the Company had A$824,000 in cash.
The Company reported net cash used in operating activities of
(A$276,000).  As a result, Mission NewEnergy had A$549,000 in cash
at the end of the quarter.

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

                      https://is.gd/jVXH25

                     About Mission NewEnergy

Mission NewEnergy Limited is an Australia-based renewable energy
company.  The Company operates a biodiesel plant in Malaysia.  The
Company's segments include Biodiesel Refining and Corporate.  The
Company owns an interest in a biodiesel refinery in Malaysia, which
has a nameplate capacity of approximately 250,000 tons per year.
The Company's subsidiaries include Mission Biofuels Sdn Bhd and M2
Capital Sdn Bhd.

Mission reported a net loss of A$2.33 million on A$41,960 of total
revenue for the fiscal year ended June 30, 2016, compared with net
income A$28.36 million on A$7.27 million of total revenue for the
fiscal year ended June 30, 2015.

At June 30, 2016, the Company had total assets of A$6.17 million,
total liabilities of A$1.40 million, all current, and A$4.76
million in total stockholders' equity.

BDO Audit (WA) Pty. Ltd. issued a "going concern" qualification on
the consolidated financial statements for the fiscal year ended
June 30, 2016, stating that the consolidated entity has suffered
recurring losses from operations that raises substantial doubt
about its ability to continue as a going concern.


MONAKER GROUP: Incurs $2.24 Million Net Loss in Third Quarter
-------------------------------------------------------------
Monaker Group, Inc., filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $2.24 million on $101,477 of total revenues for the three months
ended Nov. 30, 2016, compared with a net loss of $1.01 million on
$21,717 of total revenues for the three months ended Nov. 30,
2015.

For the nine months ended Nov. 30, 2016, the Company reported a net
loss of $4.27 million on $373,346 of total revenues compared with a
net loss of $4.91 million on $507,077 of total revenues for the
nine months ended Nov. 30, 2015.

As of Nov. 30, 2016, Monaker Group had $2.54 million in total
assets, $2.84 million in total liabilities and a total
stockholders' deficit of $306,327.

As of Nov. 30, 2016, and Feb. 29, 2016, the Company had an
accumulated deficit of $97.84 million and $93.56 million,
respectively.  As of Nov. 30, 2016, the Company had a working
capital deficit of $1.952 million, and for the nine months ended
November 30, 2016, had a net loss of $4.279 million and cash used
in operations of $2.870 million.

"We have very limited financial resources.  We currently have a
monthly cash requirement of approximately $350,000, exclusive of
capital expenditures.  We will need to raise substantial additional
capital to support the on-going operation and increased market
penetration of our products including the development of national
advertising relationships, increases in operating costs resulting
from additional staff and office space until such time as we
generate revenues sufficient to support our operations.  We believe
that in the aggregate, we would require several millions of dollars
to support and expand the marketing and development of our travel
products, repay debt obligations, provide capital expenditures for
additional equipment and development costs, payment obligations,
office space and systems for managing the business, and cover other
operating costs until our planned revenue streams from travel
products are fully-implemented and begin to offset our operating
costs.  Our failure to obtain additional capital to finance our
working capital needs on acceptable terms, or at all, will
negatively impact our business, financial condition and liquidity.
As of November 30, 2016 and February 29, 2016, we had $2,847,484
and $3,035,694, respectively, of current liabilities.  These
conditions raise substantial doubt of our ability to continue as a
going concern," the Company stated in the report.

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

                     https://is.gd/ZnbNyM

                      About Monaker Group

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

Monaker Group reported a net loss of $4.55 million on $544,700 of
total revenues for the year ended Feb. 29, 2016, compared to a net
loss of $2.98 million on $1.09 million of total revenues for the
year ended Feb. 28, 2015.

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


MULTI PACKAGING SOLUTIONS: Moody's Reviews B1 CFR for Upgrade
-------------------------------------------------------------
Moody's Investors Service placed the B1 Corporate Family Rating and
B1-PD Probability of Default Rating of Multi Packaging Solutions
Limited under review for upgrade following the announcement by
WestRock Company (Baa2 stable) that it reached a definitive
agreement to acquire MPS for $2.28 billion including the assumption
of an estimated $873 million of MPS' net debt. Moody's also placed
the B1 rating on MPS' senior secured credit facilities under review
for upgrade. The SGL-2 speculative grade liquidity rating is
unchanged.

Moody's placed the following ratings under review for upgrade:

Multi Packaging Solutions Limited

B1 Corporate Family Rating

B1-PD Probability of Default Rating

All B1/LGD3 Senior Secured Credit Facilities

Outlook, changed to Rating under Review from Stable

SGL-2 Speculative Grade Liquidity remains unchanged

RATINGS RATIONALE

The review follows WestRock's announcement that it reached a
definitive agreement to acquire all of the outstanding shares of
MPS for $18 per share in cash and the assumption of an estimated
$873 million in net debt. The review for upgrade reflects
expectations that acquisition by WestRock will improve MPS' credit
profile, as the debt will be assumed by WestRock, a leading
integrated manufacturer of corrugated and consumer packaging. The
review will focus on the consummation of the transaction as well as
the ultimate capital structure of MPS post acquisition.

WestRock announced that transaction will be financed through a
combination of cash on hand and existing credit facilities.
WestRock stated that it expects to refinance existing MPS debt
assumed as part of the transaction upon closing. The transaction is
subject to shareholder and regulatory approval, however, two
largest shareholders of MPS, The Carlyle Group and Madison Dearborn
Partners, have agreed to vote all of their shares in favor of the
transaction. WestRock expects the transaction to close in the
second quarter of 2017.

If the acquisition is consummated as disclosed and all MPS debt is
repaid Moody's will withdraw MPS' ratings.

The acquisition is beneficial for WestRock as it allows the company
to increase its forward integration into paperboard, expand product
offerings and end markets and generate moderate synergies. MPS is
one of the largest non-integrated converters of bleached
paperboard, using approximately 225,000 tons of paperboard each
year. The acquisition will create opportunities to integrate
between 35% and 45% of this consumption, according to WestRock. In
total, these opportunities are expected to generate $85 million in
run-rate synergies by the end of fiscal 2019, according to
WestRock.

The principal methodology used in these ratings was Global Paper
and Forest Products Industry published in October 2013.

Multi Packaging Solutions Limited, through its main operating
subsidiaries in the US and Europe, is a global provider of consumer
packaging products and solutions to the consumer, health care, and
multi-media markets. Following the IPO and secondary offering,
equity sponsors The Carlyle Group and Madison Dearborn Partners,
Inc own a combined 55% of the company's shares. Revenue for the
twelve months ended September 30, 2016 totaled $1.6 billion.


NET ELEMENT: Directs SOUSA Holdings to Buy 240,964 shares
---------------------------------------------------------
Net Element, Inc., opted to present ESOUSA Holdings, LLC, a New
York limited liability company, with a purchase notice directing
ESOUSA to purchase 240,964 shares of the Company's common stock for
the aggregate purchase price of $200,000 (or $0.83 per share)
pursuant to the Common Stock Purchase Agreement with ESOUSA.  The
SPA and its terms were disclosed in the Company's Current Report on
Form 8-K filed on July 12, 2016.  Such shares of common stock of
the Company were issued to ESOUSA under an exemption from the
registration requirements of the Securities Act of 1933, as
amended, in reliance upon Section 4(a)(2) of the Securities Act.

                        About Net Element

Miami, Fla.-based Net Element International, Inc., formerly Net
Element, Inc., currently operates several online media Web sites
in the film, auto racing and emerging music talent markets.

Net Element reported a net loss of $13.3 million on $40.2 million
of total revenues for the year ended Dec. 31, 2015, compared to a
net loss of $10.2 million on $21.4 million of total revenues for
the year ended Dec. 31, 2014.

As of Sept. 30, 2016, Net Element had $23.39 million in total
assets, $16.82 million in total liabilities and $6.56 million in
total stockholders' equity.

Daszkal Bolton LLP, in Fort Lauderdale, Florida, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2015, citing that the Company has sustained
recurring losses from operations and has working capital and
accumulated deficits that raise substantial doubt about its ability
to continue as a going concern.


NEW MILLENNIUM: S&P Lowers Rating on 2015A/B Bonds to 'CCC+'
------------------------------------------------------------
S&P Global Ratings lowered its long-term rating on the city of
Columbus, Minn.'s series 2015A and 2015B charter school lease
revenue bonds, issued on behalf of New Millennium Academy (NMA), to
'CCC+' from 'BB-'.  S&P Global Ratings also removed the rating from
CreditWatch with negative implications where it was placed on Oct.
17, 2016.  The outlook is negative.

"We placed the rating on CreditWatch with negative implications
pending the conclusion of a third party investigation into
allegations that NMA violated Minnesota law," said S&P Global
Ratings credit analyst Melissa Brown.

As S&P noted in its previous report, beginning June 1, 2016,
Friends of Education (FOE), the school's authorizer, issued three
notices of concern to NMA related to the multiple claims of
illegality, which included staff terminations that were
discriminatory or retaliatory in nature, impermissible board member
relationships, and board meetings being held without public notice.
In addition, FOE reported that the school intentionally misled the
authorizer in its correspondence.  Subsequently, FOE required the
school to retain a third party investigator to make a determination
as to the validity of the allegations and required the school to
remedy any concerns.

"Since our most recent review, the investigation concluded with the
determination that NMA had committed multiple violations under
Minnesota law," Ms. Brown added.

On Dec. 16, 2016, FOE filed a notice of intent to terminate NMA's
charter. In accordance with S&P Global Ratings' criteria, the
'CCC+' rating and negative outlook reflects the rating service's
view that there is greater than a one in two likelihood of default
given the severity of the allegations, multiple notices of concern,
conclusion of the third party investigation, and the resulting
notice of intent to terminate the school's charter.  "In our view,
NMA is vulnerable to nonpayment and is dependent upon the
maintenance of its charter contract to meet its financial
commitments," Ms. Brown said.


NORTEL NETWORKS: U.S. Trustee Forms Three-Member Committee
----------------------------------------------------------
Andrew Vara, acting U.S. trustee for Region 3, on Jan. 24 filed an
amended notice of appointment of three creditors of Nortel Networks
Inc., et al., to serve on the official committee of unsecured
creditors.

The committee members are:

     (1) The Bank of New York Mellon
         Attn: Martin Feig, V.P.
         101 Barclay Street – 8 West
         New York, NY 10286
         Tel: (212) 815-5383
         Fax: (732) 667-4756

     (2) Pension Benefit Guaranty Corporation
         Attn: Jennifer Messina
         1200 K Street, N.W.
         Washington, DC 20005
         Tel: (202) 326-4000 ext. 3209
         Fax: (202) 842-2643

     (3) Delaware Trust Company
         Attn: Sandra Horwitz
         2711 Centreville Road
         Wilmington, DE 19808
         Tel: (302) 636-5860
         Fax: (302) 636-8666

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 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.


NORTEL NETWORKS: Wins Confirmation of Liquidation Plan
------------------------------------------------------
Matt Chiappardi, writing for Bankruptcy Law360, reported that
Nortel Networks Inc. won confirmation of its Chapter 11 plan in
both Canada and the Delaware bankruptcy court on Jan. 24, eight
years after the telecom filed for bankruptcy protection, capping
off a lengthy saga that included an unprecedented international
dispute over how to divide $7 billion in asset sale proceeds.

U.S. Bankruptcy Judge Kevin Gross and Justice Frank Newbould of the
Ontario Superior Court confirmed the liquidation plan for the
Nortel during simultaneous hearings in both Wilmington and Toronto
that were connected via video link.

In a separate report, Mr. Chiappardi said "an unusually tense and
dramatic exchange" occurred between Judge Gross and federal
bankruptcy watchdog attorney Mark Kenney during oral arguments at
the confirmation hearing, which resulted in the judge threatening
to remove Mr. Kenney from the podium by force.  The brief incident,
according to the report, occurred while Mr. Kenney was arguing the
U.S. Trustee's Office's objection to the exculpation provisions in
Nortel's Chapter 11 plan.

Vidya Kauri, writing for Bankruptcy Law360, reported that the Iowa
Department of Revenue and a U.S. Trustee filed separate objections
early January to the Company's Chapter 11 plan, saying the plan
does not provide for the full payment of tax liabilities and that
it improperly includes nondebtor third parties.  The Iowa
Department of Revenue told the Delaware court that Nortel Networks
has not filed any tax returns in the state for 2013, 2014 or 2015.

Jeff Montgomery at Bankruptcy Law360 reported that in advance of
the confirmation hearing, a consortium of Nortel Networks'
suppliers and other creditors has agreed to a $153.6 million trade
creditor claim in partial settlement of the group's objections to
the Company's Chapter 11 plan.  The Nortel Trade Creditor
Consortium's attorneys filed the proposal Sunday, after a series of
endorsements and settlement disclosures by other groups last week.

Bryan Koenig, who also writes for Bankruptcy Law360, reported that
Nortel Networks received a bevy of support in Delaware bankruptcy
court in pushing for Plan confirmation.  The Company said last week
the Plan had few objectors and is the "best and only" way to
resolve its bankruptcy.  The official committee of unsecured
creditors, indenture trustee Bank of New York Mellon and an ad hoc
group of bondholders all voiced support for the plan and the
settlement and plan support agreement, or SPSA.

Early this month, the Company settled objections to its Chapter 11
plan from software company SNMP Research International Inc.,
according to a report by Mr. Chiappardi.  The report said Nortel
and SNMP have been embroiled in a dispute since at least 2011 over
intellectual property and trade secrets.

Nortel also obtained approval from the Delaware court of its
settlement with the Pension Benefit Guaranty Corp., according to a
report by Mr. Montgomery.  The Bankruptcy Law360 report noted that
the deal headed off a threatened court battle over a $708 million
claim and averting a new delay in the case.  

Under the deal, the PBGC agreed to a $624 million general unsecured
claim which is subject to a $565 million cap.

Nortel Networks told the Delaware court in December that the
proposed settlement marked a "material compromise" that will put
the fallen telecommunications giant on a path to exit Chapter 11,
according to a report by Pete Brush at Bankruptcy Law360.

                      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.

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.


NORTHERN OIL: Elliott Associates Holds 6.9% Stake as of Jan. 10
---------------------------------------------------------------
In a Schedule 13G filed with the Securities and Exchange
Commission, Elliott Associates, L.P., Elliott International, L.P.,
and Elliott International Capital Advisors Inc. disclosed that they
beneficially own an aggregate of 4,329,733 shares of Common Stock
of Northern Oil and Gas, Inc., as of Jan. 10, 2017, representing
6.9 percent of the shares outstanding.  A full-text copy of the
regulatory filing is available for free at:

                      https://is.gd/u8OAZ6

                       About Northern Oil

Northern Oil and Gas, Inc. -- http://www.NorthernOil.com/-- is an  

exploration and production company with a core area of focus in the
Williston Basin Bakken and Three Forks play in North Dakota and
Montana.
  
Northern Oil reported a net loss of $975 million in 2015 following
net income of $164 million in 2014.  As of Sept. 30, 2016, Northern
Oil had $410.4 million in total assets, $886.4 million in total
liabilities, and a total stockholders' deficit of $476.1 million.

                            *     *     *

As reported by the TCR on Sept. 1, 2016, S&P Global Ratings lowered
its corporate credit rating on U.S.-based oil and gas E&P company
Northern Oil and Gas Inc. to 'CCC' from 'CCC+'.  The outlook is
negative.  "The downgrade follows the announcement by the company
that it has retained financial advisors Tudor, Pickering, Holt &
Co. to help it review strategic alternatives," said S&P Global
Ratings credit analyst Brian Garcia.  "We believe this increases
the likelihood the company could engage in a transaction we would
view as a distressed exchange, where holders of the company's
unsecured debt could receive less than the promised value," he
added.  As reported by the TCR on March 24, 2016, Moody's Investors
Service downgraded Northern Oil and Gas, Inc's Corporate Family
Rating to Caa2 from B3, Probability of Default Rating to Caa2-PD
from B3-PD, and the ratings on its senior unsecured notes to Caa3
from Caa1.  At the same time, Moody's lowered the Speculative Grade
Liquidity (SGL) rating to SGL-4 from SGL-3.  This concludes the
ratings review commenced on Jan. 21, 2016.  The ratings outlook is
negative.

"Weak oil and natural gas prices will diminish NOG's cash flows in
2017, when it no longer benefits from commodity price hedges,"
stated James Wilkins, a Moody's vice president.  "Leverage will
increase sharply and credit metrics will deteriorate."

Northern Oil carries a 'Caa2' corporate family rating from Moody's
Investors Service.


NORTHSTAR OFFSHORE: Committee Taps DLA Piper as Counsel
-------------------------------------------------------
The Official Committee of Unsecured Creditors of Northstar Offshore
Group, LLC, seeks approval from U.S. Bankruptcy Court for the
Southern District of Texas, Houston Division, to retain DLA Piper
LLP as counsel.

Services to be provided by DLA Piper are:

     (a) participate in in-person and telephonic meetings of the
Committee and any subcommittees formed thereby, and otherwise
advise the Committee with respect to its rights, powers and duties
in the Chapter 11 Case;

     (b) assist and advise the Committee in its consultations,
meetings and negotiations with the Debtor and all other parties in
interest regarding the administration of the Chapter 11 Case;

     (c) assist the Committee in analyzing the claims asserted
against and interests asserted in the Debtor, in negotiating with
the holders of such claims and interests, and in bringing,
participating in, or advising the Committee with respect to
contested matters and adversary proceedings, including objections
or estimation proceedings, with respect to such claims or
interests;

     (d) assist with the Committee's review of the Debtor's
Schedules of Assets and Liabilities, Statements of Financial
Affairs and other financial reports prepared by the Debtor, and the
Committee's investigation of the acts, conduct, assets, liabilities
and financial condition of the Debtor and of the historic and
ongoing operation of its businesses;

     (e) assist the Committee in its analysis of, and negotiations
with, the Debtor or any third party related to, among other things,
financings, use, sale or leasing of the Debtor's assets, including
asset disposition transactions, compromises of controversies,
assumption or rejection of executory contracts and unexpired
leases, and matters affecting the automatic stay;

     (f) assist the Committee in its analysis of, and negotiations
with, the Debtor or any third party related to, the negotiation,
formulation, confirmation and implementation of a chapter 11 plan
for the Debtor, and all pleadings, agreements and documentation
related thereto;

     (g) assist and advise the Committee with respect to its
communications with the general creditor body regarding significant
matters in the Chapter 11 Case;

     (h) represent the Committee at all hearings and other
proceedings before the Court and such other courts or tribunals, as
appropriate;

     (i) review and analyze all complaints, motions, applications,
orders and other pleadings filed with the Court, and advise the
Committee with respect to its position thereon and the filing of
any response thereto;

     (j) assist the Committee in preparing pleadings and
applications, and pursuing or participating in adversary
proceedings, contested matters and administrative proceedings as
may be necessary or appropriate in furtherance of the Committee's
interests and objectives; and
     
     (k) perform such other legal services as may be necessary or
as may be requested by the Committee in accordance with the
Committee's powers and duties as set forth in the Bankruptcy Code.


Vincent Slusher, a partner in DLA's Restructuring Group, attests
that his firm is a "disinterested person" as that term is defined
in section 101(14) of the Bankruptcy Code, and does not hold or
represent any interest adverse to the Committee with respect to the
matters upon which it is to be employed.

At present, the standard hourly rates charged by DLA for those
attorneys and professionals who are likely to be most active on
this matter range from $740 for partners, $350 to $600 for
associates, and $260 for paraprofessionals. However, the Committee
and DLA have agreed that DLA will limit its fees to a maximum
blended rate of $610 per hour.

The Firm can be reached through:

     Vincent P. Slusher, Esq.
     DLA PIPER, LLC
     1717 Main Street, Suite 4600
     Dallas, TX 75201-4629
     Telephone: (214) 743-4500
     Facsimile: (214) 743-4545
     Email: vincent.slusher@dlapiper.com

                              About Northstar Offshore Group

Northstar Offshore Group, LLC is an independent oil and gas
exploration and production company that focuses on acquisition and
recompletion, development drilling, and low-risk exploration in the
waters of the Gulf of Mexico.

Three creditors filed an involuntary Chapter 11 petition against
Northstar Offshore Group on August 12, 2016.  The petitioning
creditors are Montco Oilfield Contractors, LLC, Alliance Offshore,
LLC, and Alliance Energy Services, LLC. The creditors are
represented by DLA Piper (US) LLP.  

On December 2, 2016, the Debtor agreed to convert the involuntary
case to a voluntary case by filing a voluntary Chapter 11 petition
(Bankr. S. D. Texas Case No. 16-34028).

The Office of the U.S. Trustee on Dec. 19 appointed five creditors
of Northstar Offshore Group, LLC, to serve on the official
committee of unsecured creditors.


NORTHSTAR OFFSHORE: Committee Taps FTI as Financial Advisor
-----------------------------------------------------------
The Official Committee of Unsecured Creditors of Northstar Offshore
Group, LLC, seeks approval from U.S. Bankruptcy Court for the
Southern District of Texas, Houston Division, to retain FTI
Consulting, Inc as financial advisor to the Committee.

Pursuant to the Application, FTI will provide financial and
operational advice to the Committee in connection with the chapter
11 case and will perform bankruptcy and restructuring related
consulting services as reasonably requested and consistent with the
engagement objectives and scope including, without limitation,
providing support, analysis and advice to the Committee, its
counsel and any other professionals that the Committee may retain.

The hourly rates currently charged by FTI are:

                                                   Per Hour (USD)
     Senior Managing Directors                      $840 – 1,050

     Directors/Senior Directors/Managing Directors   630 – 835
     Consultants/Senior Consultants                  335 – 605
     Administrative/Paraprofessionals/Associates     135 – 265

Conor P. Tully, Senior Managing Director with FTI Consulting, Inc,
attests that his firm is a "disinterested person" as that term is
defined in section 101(14) of the Bankruptcy Code.

The Firm can be reached through:

     Conor P. Tully
     FTI CONSULTING, INC
     1101 K Street NW, Suite B100
     Washington, DC 20005
     Tel: +1 202 312 9100
     Fax: +1 202 312 9101

                      About Northstar Offshore Group

Northstar Offshore Group, LLC is an independent oil and gas
exploration and production company that focuses on acquisition and
recompletion, development drilling, and low-risk exploration in the
waters of the Gulf of Mexico.

Three creditors filed an involuntary Chapter 11 petition against
Northstar Offshore Group on August 12, 2016.  The petitioning
creditors are Montco Oilfield Contractors, LLC, Alliance Offshore,
LLC, and Alliance Energy Services, LLC.  The creditors are
represented by DLA Piper (US) LLP.  

On December 2, 2016, the Debtor agreed to convert the involuntary
case to a voluntary case by filing a voluntary Chapter 11 petition
(Bankr. S. D. Texas Case No. 16-34028).

The Office of the U.S. Trustee on Dec. 19 appointed five creditors
of Northstar Offshore Group, LLC, to serve on the official
committee of unsecured creditors.


OPTIMA SPECIALTY: Obtains Court OK to Access $40MM Credit Facility
------------------------------------------------------------------
Optima Specialty Steel, Inc. (together with its subsidiaries,
collectively, the "Company" or "OSS") on Jan. 24, 2017, disclosed
that it received approval from the United States Bankruptcy Court
for the District of Delaware ()Court") to enter into an immediate
credit facility providing up to $40 million of new immediate
borrowing capacity.

"Our customers and suppliers have remained supportive and
operations have continued uninterrupted since filing for
reorganization under Chapter 11," said Motti Korf, Chief Executive
Officer of OSS.  Mr. Korf continued, "The DIP financing combined
with OSS's operating cash flow provides a solid financial
foundation from which the Company will continue to operate and
provide its customers with quality products and services during our
reorganization.  Moreover, the agreement to provide DIP financing
demonstrates that our lenders have confidence in our ability to
emerge from Chapter 11 as a viable company."

For more information about the Credit Facility or the Chapter 11
case please visit: http://cases.gardencitygroup.com/oma/index.php

                   About Optima Specialty Steel

Optima Specialty Steel, Inc. and its affiliates filed separate
Chapter 11 bankruptcy petitions on
Dec. 15, 2016: Optima Specialty Steel, Inc. (Bankr. D. Del.
16-12789); Niagara LaSalle Corporation (Bankr. D. Del. 16-12790);
The Corey Steel Company (Bankr. D. Del. 16-12791); KES Acquisition
Company (Bankr. D. Del. 16-12792); and Michigan Seamless Tube LLC
(Bankr. D. Del. 16-12793).  The petitions were signed by Mordechai
Korf, chief executive officer.  At the time of filing, the Debtor
had assets and liabilities estimated at $100 million to $500
million each.

Optima Specialty Steel and its affiliates are independent
manufacturers of specialty steel products.  Their manufacturing
facilities are located in the United States, and each of the
companies' operating units have operated in the steel industry for
more than 50 years.  At the time of the bankruptcy filing, the
Debtors collectively employ more than 900 people.

The Debtors engaged Greenberg Traurig, LLP, Wilmington, DE, as
counsel.  The Debtors tapped Ernst & Young LLP as their
accountant.

No request has been made for the appointment of a trustee or
examiner.

The U.S. Trustee for Region 3 appointed seven creditors to serve on
the Official Committee of Unsecured Creditors: Michael Scharf,
ArceloMittal International America LLC, Steel Dynamic Sales North
America, Inc., Republic Steel, ASW Steel Inc., Gerdau, and United
Steelworkers.


ORCAL GEOTHERMAL: Fitch Affirms BB Rating on $16MM Sr. Notes
------------------------------------------------------------
Fitch Ratings has affirmed OrCal Geothermal LLC's $165 million
senior notes ($35.181 million outstanding) due in 2020 at 'BB'. The
Rating Outlook has been revised to Stable from Negative due to
sustained improvements in operational performance.

KEY RATING DRIVERS

Summary: The 'BB' rating reflects Fitch's expectation of stable
operations of OrCal's geothermal projects under long-term revenue
contracts with some exposure to index-based price risk. The rating
considers that stable resource production remains dependent on
sponsor-funded discretionary capital expenditures. The Outlook has
been revised to Stable from Negative due to recent improved
production levels and overall plant efficiency.

Production Below Original Estimates (Supply Risk: Weaker): The
absence of substitute fuel supply leaves OrCal exposed to the risk
of declining geothermal resource production. Production is
dependent on an active, sponsor-supported capital plan that is
funded at the sponsor's discretion. Although the sponsor
demonstrates a strong track record of funding capital expenditures,
annual production has generally trended down over the last five
years.

Diminished Price Risk (Revenue Risk: Midrange): At the beginning of
2016, 50% of OrCal's total capacity transitioned to a power
purchase agreement (PPA) with the Southern California Public Power
Authority (SCPPA). As a result, the proportion of capacity tied to
volatile energy pricing under the Short Run Avoided Cost (SRAC)
methodology has been reduced to one-third. OrCal's entire capacity
is contracted with PPA expirations ranging from three to 11 years
beyond debt maturity.

Stable Operating Cost Profile (Operation Risk: Midrange): OrCal has
maintained a stable cost profile over the past few years, excluding
sponsor-funded capital expenditures. The operator is a subsidiary
of the project sponsor and has significant experience operating
geothermal assets.

Fully-amortizing Debt Structure (Debt Structure: Midrange): OrCal's
fully amortizing debt faces no refinancing risk and contains
features typical of project finance structures, such as a six-month
debt service reserve.

Vulnerable Financial Coverage: Underperformance of the geothermal
resource, a shortfall in sponsor-funded capex, or continued
weakness in SRAC pricing could impair OrCal's ability to service
debt payments over the remaining four-year debt term. Under Fitch's
rating case, which excludes planned capacity increases and assumes
2.5% annual declines in resource production and SRAC energy pricing
averaging approximately $29/MWh, debt service coverage ratios
(DSCRs) average 1.00x with particularly weak coverage in the final
two years of repayment. If capital plans are executed in line with
sponsor expectations, rating case DSCRs could exceed 1.4x.

PEER GROUP

The geothermal assets within Coso Geothermal Holdings, LLC ('C')
have suffered substantially greater resource depletion than Orcal's
plants. CE Generation, LLC's (CE Gen, 'BB-'/Outlook Stable)
portfolio has a proportionally larger exposure to variable SRAC
price risk than Orcal, and its debt is structurally subordinate to
project-level indebtedness. Like OrCal, CE Gen relies on
non-obligatory financial support from its parent company.

RATING SENSITIVITIES

Negative - Production declines or low SRAC pricing resulting in a
Fitch-calculated DSCR below rating case levels.

Negative - A significant increase in operating costs or cessation
of sponsor support for operating expenses or capital expenditures.

Positive - Successful implementation of planned capital
improvements and sustained stable resource production, generating
Fitch-calculated DSCRs at or above base case levels.

CREDIT UPDATE

In 2016, OrCal's geothermal assets once again demonstrated stable
production following the implementation of capex investments in
2014. Plant output at the Heber 1 complex increased to 39MW (from
36 MW the prior two years) and overall system availability reached
a solid 96.2% for the year. Generation surpassed 647,000 MWh for a
second straight year, the highest levels since 2012.

Looking forward, OrCal's parent company, Ormat Nevada (Ormat), is
planning to implement further capital improvements to the system
through discretionary equity contributions. Ormat is planning to
add a new generation unit in 2017 that is expected to increase
overall plant capacity by 9MW with relatively minimal additional
downtime beyond annual scheduled maintenance. Ormat has a long
track record of providing equity to fund capital expenditures or
relieve the project of some operational expenses in order to boost
operational cash flow. Fitch's rating incorporates the expectation
that parent Ormat will continue this practice, though these actions
are voluntary and discretionary given that the project is financed
as a bankruptcy-remote special purpose vehicle.

Performance Update

Solid 2016 production boosted revenue, even in the face of
continued declines in energy prices tied to Heber 2's gas
price-indexed PPA. Total revenue increased by over 20% from
year-ago levels, driven by high production levels under the more
favorable fixed price PPA tied to Heber 1. Operating expenses
increased by nearly 5% in the past year, as the operator completed
a number of well field projects, including pump replacements and
chemical treatments. Overall, Fitch calculates that operational
cash flow in 2016 reached approximately $17 million, generating a
Fitch calculated DSCR of 1.58x.

Fitch Cases

Under the base case, Fitch assumes that plant capacity increases by
approximately 5MW following the addition of the new generation
unit, followed by resource production declines at the five-year
historical rate of 1.6% per year. Expenses grow by an assumed
inflationary rate of 2% per year. Energy pricing indexed to natural
gas is based on Fitch's long-term assumption for gas prices,
averaging $36.50/MWh through 2020. The resulting financial profile
demonstrates declining coverage over the remaining debt term with
an average DSCR of 1.71x and a minimum of 1.53x in the final year
of repayment (2020).

Under the rating case, Fitch does not assume any increase in
capacity and includes a steeper production decline of 2.5% per
year. Expenses grow by 2.5% per year, an increase over the
inflationary assumption in the base case. Energy prices are based
on Fitch's low natural gas price deck, yielding an average price of
$29/MWh through 2020. The resulting profile suggests a declining
DSCR profile, due to the compounding effect of increasing costs and
declining production. The DSCR averages 1.00x through 2020 with
coverage dipping below breakeven in 2019 and 2020. This profile
suggests some dependence on forthcoming capital improvements to
bolster coverage in downside scenarios. Assuming a 5MW capacity
increase under the same rating case conditions yields a more solid
coverage profile averaging 1.38x, with a minimum of 1.22x in 2020.

Asset Description
OrCal is a special-purpose company that was created to acquire the
Heber 1 and Heber 2 geothermal power facilities (the Heber power
plants) located in Imperial County, CA. OrCal also owns the Gould 1
and Gould 2 plants, and the Heber South power plant, which became
operational in 2008. OrCal is jointly owned by a tax-equity
investor and Ormat Nevada Inc. Ormat Nevada is a subsidiary of
Ormat Technologies, Inc., a vertically integrated owner and
developer of geothermal and other recovered energy projects.


OUTBOUND GROUP: Seeks to Hire MRPR Group as Accountant
------------------------------------------------------
The Outbound Group, Inc. and Mt. Carmel Leasing, LLC seek approval
from the U.S. Bankruptcy Court for the Eastern District of Michigan
to hire an accountant.

The Debtors propose to hire MRPR Group, P.C. to prepare their tax
returns and financial statements, assist in the formulation of a
bankruptcy plan, and provide other tax and accounting services.

The hourly rates charged by the firm are:

     Gregory Zink     $280
     Matt Mazure      $120
     Nozrul Islam      $84

All members of MRPR Group do not hold any interest adverse to the
Debtors' bankruptcy estates, and are "disinterested persons" as
defined in section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Gregory Zink
     MRPR Group, P.C.
     One Northwestern Plaza
     28411 Northwestern Highway, Suite 800
     Southfield, MI 48034-5538
     Phone: (248) 357-9000

                    About The Outbound Group

The Outbound Group, Inc. and Mt. Carmel Leasing, LLC sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. E. D.
Mich. Lead Case No. 16-55971) on November 29, 2016.  The petition
was signed by Harry J. Zoccoli, III, shareholder.  

The cases are assigned to Judge Phillip J. Shefferly.  Stevenson &
Bullock, PLC serves as the Debtors' legal counsel.

At the time of the filing, Outbound Group estimated assets of less
than $50,000 and liabilities of $1 million to $10 million.  Mt.
Carmel estimated both assets and liabilities of less than $50,000.

No trustee, examiner or unsecured creditors' committee has been
appointed in the cases.


PEABODY ENERGY: Court Denies Bid for Appointment of Equity Panel
----------------------------------------------------------------
Judge Barry S. Schermer of the U.S. Bankruptcy Court for the
Eastern District of Missouri, for reasons set forth by the Court on
the record, denied the motion of the Mangrove Partners Master Fund,
Ltd., for an order appointing an official committee of equity
security holders in the Chapter 11 cases of Peabody Energy
Corporation and its debtor affiliates.

As previously reported by The Troubled Company Reporter, The
Mangrove Partners Master Fund, Ltd., asked the Bankruptcy Court to
direct the appointment of an official equity committee, saying
that, in light of the substantial rebound of the coal industry
since the filing of the Chapter 11 cases, holders of the Shares
will see meaningful recoveries in connection with a reorganization
of the Debtors if metallurgical and thermal coal prices stabilize
at or around $145/ton and $77/ton or higher respectively -- prices
that are well below both historical averages and current prices.  

Mangrove disclosed in a filing with the Securities and Exchange
Commission that it may be deemed to beneficially own 971,058
shares
or roughly 5.2% of the common stock of Peabody.

An Ad Hoc Committee of Non-Consenting Creditors -- whose members
are the beneficial holders of, or are investment managers or
advisors to funds and/or accounts that are the beneficial holders
of, among other things, Second Lien Notes, Unsecured Notes, and
Convertible Subordinated Debentures -- expressed its support to the
request of Mangrove.

The Debtors are "not hopelessly insolvent," according to the
Group.

The Debtors and the Official Committee of Unsecured Creditors
appointed in the Debtors' chapter 11 bankruptcy cases argued that
an official equity committee is not necessary in the case and asked
the Court to reject Mangrove's request.

According to the Debtors, Mangrove has not shown that there is a
substantial likelihood of meaningful recoveries for equity
security
holders of PEC common stock, and that its assertion to the
contrary
is based upon an analysis containing errors and mistaken
assumptions. When these errors and mistaken assumptions are
corrected, Mangrove's analysis shows that Equity Holders have no
meaningful opportunity for recovery.

According to the Committee, Mangrove has failed to carry its heavy
burden of demonstrating that there is a substantial likelihood that
the Debtors' equity holders will receive a meaningful distribution
under a strict application of the absolute priority rule and that
the interests of equity holders cannot be adequately represented
without an official committee.  

Appearances during the hearing were made by counsel for the
Debtors, the Mangrove Partners Master Fund, Ltd., the Ad Hoc
Committee of Non-Consenting Creditors, the Official Committee of
Unsecured Creditors, JAZ Ventures LP, Mr. Frederick D Palmer and by
Mr. Don McGee.

              About Peabody Energy Corporation

Headquartered in St. Louis, Missouri, Peabody Energy Corporation
claims to be the world's largest private-sector coal company.  As
of Dec. 31, 2014, the Company owned interests in 26 active coal
mining operations located in the United States (U.S.) and
Australia.  The Company has a majority interest in 25 of those
mining operations and a 50% equity interest in the Middlemount
Mine
in Australia.  In addition to its mining operations, the Company
markets and brokers coal from other coal producers, both as
principal and agent, and trade coal and freight-related contracts
through trading and business offices in Australia, China, Germany,
India, Indonesia, Singapore, the United Kingdom and the U.S.

Peabody posted a net loss of $1.988 billion for 2015, wider from
the net loss of $777 million in 2014 and the $513 million net loss
in 2013.

At Dec. 31, 2015, the Company had total assets of $11.02 billion
against $10.1 billion in total liabilities, and stockholders'
equity of $919 million.

On April 13, 2016, Peabody Energy Corp. and 153 affiliates filed
voluntary petitions for relief under Chapter 11 of the United
States Bankruptcy Code.  The 154 cases are pending joint
administration before the Honorable Judge Barry S. Schermer under
(Bankr. E.D. Mo. Case No. 16-42529).

As of the Petition Date, PEC has approximately $4.3 billion in
outstanding secured debt obligations and $4.5 billion in
outstanding unsecured debt obligations.

The Debtors tapped Jones Day as general counsel; Armstrong,
Teasdale LLP as local counsel; Lazard Freres & Co. LLC and
investment banker Lazard PTY Limited as investment banker; FTI
Consulting, Inc., as financial advisors; and Kurtzman Carson
Consultants, LLC, as claims, ballot and noticing agent.

The Office of the U.S. Trustee on April 29, 2016, appointed seven
creditors of Peabody Energy Corp. to serve on the official
committee of unsecured creditors.  The Committee retained Morrison
& Foerster LLP as counsel, Spencer Fane LLP as local counsel,
Curtis, Mallet-Prevost, Colt & Mosle LLP as conflicts counsel,
Blackacre LLC as its independent expert, and Berkeley Research
Group, LLC, as financial advisor.


PEABODY ENERGY: UST Balks at Bid to Pay $240M Transaction Fees
--------------------------------------------------------------
Martin O'Sullivan, writing for Bankruptcy Law360, reported that the
U.S. trustee has urged the Missouri bankruptcy judge overseeing
Peabody Energy's Chapter 11 case to reject parts of the company's
proposed reorganization plan.  Specifically, U.S. Trustee Daniel J.
Casamatta asked the court to reject Peabody's bid to pay $240
million in transaction fees "exorbitant."

Peabody in late December submitted its Chapter 11 plan seeking to
deleverage its balance sheet by $6.6 billion and raise $1.5 billion
through a private placement and a rights offering.

In a separate report, Mr. O'Sullivan at Bankruptcy Law360 said
Peabody Energy is facing opposition to its Chapter 11 disclosure
statement from the Indiana Department of Natural Resources, which
said that the company needs to flesh out the details in regard to
posting bonds for cleaning up mining sites in the future.  

               About Peabody Energy Corporation

Headquartered in St. Louis, Missouri, Peabody Energy Corporation
claims to be the world's largest private-sector coal company.  As
of Dec. 31, 2014, the Company owned interests in 26 active coal
mining operations located in the United States (U.S.) and
Australia.  The Company has a majority interest in 25 of those
mining operations and a 50% equity interest in the Middlemount
Mine
in Australia.  In addition to its mining operations, the Company
markets and brokers coal from other coal producers, both as
principal and agent, and trade coal and freight-related contracts
through trading and business offices in Australia, China, Germany,
India, Indonesia, Singapore, the United Kingdom and the U.S.

Peabody posted a net loss of $1.988 billion for 2015, wider from
the net loss of $777 million in 2014 and the $513 million net loss
in 2013.

At Dec. 31, 2015, the Company had total assets of $11.02 billion
against $10.1 billion in total liabilities, and stockholders'
equity of $919 million.

On April 13, 2016, Peabody Energy Corp. and 153 affiliates filed
voluntary petitions for relief under Chapter 11 of the United
States Bankruptcy Code.  The 154 cases are pending joint
administration before the Honorable Judge Barry S. Schermer under
(Bankr. E.D. Mo. Case No. 16-42529).

As of the Petition Date, PEC has approximately $4.3 billion in
outstanding secured debt obligations and $4.5 billion in
outstanding unsecured debt obligations.

The Debtors tapped Jones Day as general counsel; Armstrong,
Teasdale LLP as local counsel; Lazard Freres & Co. LLC and
investment banker Lazard PTY Limited as investment banker; FTI
Consulting, Inc., as financial advisors; and Kurtzman Carson
Consultants, LLC, as claims, ballot and noticing agent.

The Office of the U.S. Trustee on April 29, 2016, appointed seven
creditors of Peabody Energy Corp. to serve on the official
committee of unsecured creditors.  The Committee retained Morrison
& Foerster LLP as counsel, Spencer Fane LLP as local counsel,
Curtis, Mallet-Prevost, Colt & Mosle LLP as conflicts counsel,
Blackacre LLC as its independent expert, and Berkeley Research
Group, LLC, as financial advisor.


PERPETUAL ENERGY: Moody's Assigns Caa3 to Unsecured Notes Due 2022
------------------------------------------------------------------
Moody's Investors Service assigned a Caa3 rating to Perpetual
Energy Inc.'s C$17 million Senior Unsecured Notes due 2022. Moody's
also changed the Probability of Default Rating to Caa2-PD/LD from
Caa2-PD. All other ratings are unchanged. The outlook remains
negative.

Perpetual successfully exchanged portions of its 8.75% Senior
Unsecured Notes due 2018 and 2019 for new 8.75% Senior Unsecured
Notes due 2022. Moody's appended the PDR with a "/LD" designation,
indicating limited default, following the close of the exchange.
Moody's considers the transaction a distressed exchange, which is a
default under Moody's definition. The "/LD" designation will be
removed after one business day.

Issuer: Perpetual Energy Inc.

Assignments:

-- Senior Unsecured Regular Bond/Debenture, Assigned Caa3 (LGD4)

RATING RATIONALE

Perpetual's Caa2 CFR reflects the very small production base and
low cash margins driven by a high percentage of natural gas. A low
capital spend (about C$15 million expected in 2016) is the only way
Perpetual can maintain breakeven free cash flow, which will lead to
further production declines in 2017.

The SGL-3 Speculative Grade Liquidity Rating reflects adequate
liquidity through 2017. At September 30, 2016, Perpetual had
minimal cash and C$6 million in letters of credit pledged against
its undrawn C$6 million revolver. Moody's expect Perpetual to limit
2017 capital expenditures to below expected cash flow (about C$20
million) and the value of its Tourmaline Oil Corp. (unrated) shares
(worth roughly C$11 million as of January 23, 2016). Moody's expect
Perpetual will be in compliance with its two financial covenants
through this period. Perpetual has some sources of alternate
liquidity with approximately 350,000 Tourmaline shares it can sell.
Perpetual's C$28 million and C$16 million senior unsecured notes
are due in March 2018 and July 2019, respectively.

In accordance with Moody's Loss Given Default (LGD) Methodology,
the senior unsecured notes are rated Caa3, one notch below the CFR,
due to the amount of priority ranking debt consisting of the C$6
million secured revolver and combined C$41 million Tourmaline
secured share financing.

The negative outlook reflects Moody's views that Perpetual's low
capital spend is unsustainable given that it will lead to further
production and reserve declines.

The ratings could be downgraded if liquidity deteriorates.

The ratings could be upgraded if the company has the ability to
address its upcoming maturities and if production and reserves
cease to decline.

Perpetual is a public Calgary, Alberta-based independent
exploration and production company with average daily production
(net of royalties) of about 9,000 barrels of oil equivalent per
day.

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


PERPETUAL ENERGY: S&P Lowers CCR to 'SD' on Distressed Exchange
---------------------------------------------------------------
S&P Global Ratings said it lowered its long-term corporate credit
rating on Calgary, Alta.-based Perpetual Energy Inc. to 'SD'
(selective default) from 'CC'.  At the same time, S&P Global
Ratings lowered its issue-level rating on the company's senior
unsecured notes to 'D' (default) from 'C'.  The recovery rating is
unchanged at '5', indicating S&P's expectation of modest recovery
(10%-30%; in the high end of the range) in the event of a default.

The downgrade follows Perpetual's announcement that it has
completed its announced securities swap proposal to existing
holders of its 8.75% senior unsecured notes (both due 2018 and
2019) for a new 8.75% senior unsecured note due 2021, which S&P
views as a distressed exchange.

S&P expects to review the corporate credit and issue-level ratings,
and to assign a rating to the new note, during the next few days.
S&P's analysis will incorporate the company's new capital structure
and liquidity position, while taking into account the challenging
operating environment.



PHOTOMEDEX INC: Stockholders Elect 5 Directors
----------------------------------------------
PhotoMedex, Inc., held its 2016 annual meeting of stockholders on
Jan. 20, 2017, at which the stockholders:

   (1) elected Lewis C. Pell, Dr. Yoav Ben-Dror, Dr. Dolev
       Rafaeli, Dennis M. McGrath and Stephen P. Connelly as
       directors;

   (2) ratified the appointment of Fahn Kanne & Co. Grant Thornton
       Israel to serve as the Company's independent registered
       public accounting firm for the year to be ended Dec. 31,
       2016;

   (3) authorized the sale by the Company of substantially all of
       the assets primarily related to or used in the Company's
       consumer products division, including its no!no! hair and
       skin products and the Kyrobak back pain management products
       and the shares of capital stock of Radiancy (HK) Limited
       and LK Technology Importacao E Exportacao LTDA, pursuant to
       the Asset Purchase Agreement by and between the Company and
       its subsidiaries Radiancy, Inc., Radiancy (Israel) Limited
       and PhotoTherapeutics Ltd., and ICTV Brands, Inc. and its
       subsidiary ICTV Holdings, Inc., dated Oct. 4, 2016;

   (4) approved an advisory resolution on the compensation that
       may be paid to the Company's named executive officers; and

   (5) approved the holding of future advisory votes on the
       compensation paid to the Company's named executive officers
       triennially.

                        About PhotoMedex

PhotoMedex, Inc., is a global health products and services company
providing integrated disease management and aesthetic solutions to
dermatologists, professional aestheticians, ophthalmologists,
optometrists, consumers and patients.  The Company provides
proprietary products and services that address skin conditions
including psoriasis, vitiligo, acne, actinic keratosis, photo
damage and unwanted hair, as well as fixed-site laser vision
correction services at our LasikPlus(R) vision centers.

Photomedex reported a net loss of $34.6 million on $75.9 million of
revenues for the year ended Dec. 31, 2015, compared with a net loss
of $121 million on $133 million of revenues for the year ended Dec.
31, 2014.

As of June 30, 2016, Photomedex had $28.2 million in total assets,
$22.6 million in total liabilities and $5.56 million in total
stockholders' equity.


PIONEER HEALTH: Rennova Closes Acquisition of Oneida Hospital
-------------------------------------------------------------
Rennova Health, Inc., has closed the asset purchase agreement to
acquire certain assets related to Scott County Community Hospital,
based in Oneida, Tennessee.

Scott County Hospital is classified as a Critical Access Hospital
(rural), with 25 beds, a 24/7 emergency department, operating rooms
and a laboratory that provides a range of ancillary diagnostic
services.  The purchase includes a 52,000 sq. ft. hospital building
and a 6,300 sq. ft. professional building on approximately 4.3
acres.

Rennova acquired the assets out of bankruptcy for $600,000 in cash,
plus the repayment of approximately $400,000 of debt secured by the
foregoing land and buildings.  Rennova believes it will have the
hospital open in part in the second quarter of 2017 and that the
hospital will be fully operational by the third quarter of 2017.

The hospital had unaudited annual revenues of approximately $12
million, and a normalized EBITDA of approximately $1.3 million for
Fiscal 2015, the last full year of the hospital's operation.  These
revenues were attributable to the typical services of a rural acute
care hospital, including ER visits, outpatient procedures,
diagnostic ancillary tests, physical therapy and inpatient hospital
stays.  Based on the hospital's historical information, Rennova
believes the hospital offers an established patient base with
stable revenues as it serves the general healthcare needs of its
community and supports local physicians.

"We are thankful to the leaders of Scott County and Oneida, TN for
welcoming us.  We are excited to become a part of the community and
to bring back this vital resource of a hospital," said Seamus
Lagan, chief executive officer of Rennova.  "Furthermore, we look
forward to getting to know and working with other healthcare
providers in East Tennessee as we serve the needs of the
community."

                  About Pioneer Health Services

Pioneer Health Services, Inc., and its debtor-affiliates,
including
Medicomp Inc., filed separate Chapter 11 bankruptcy petitions
(Bankr. S.D. Miss. Lead Case No. 16-01119) on March 30, 2016.
Pioneer Health Services of Early County, LLC, filed a Chapter 11
case on April 8, 2016. The cases are administratively
consolidated.
The petitions were signed by Joseph S. McNulty III, president.

The Debtors provide healthcare services to rural communities, and
own and manage rural critical access hospitals.

Judge Hon. Neil P. Olack presides over the Debtors' cases.

The Law Offices of Craig M. Geno PLLC serves as the Debtors'
counsel, Mintz Levin Cohn Ferris Glovsky and Popeo, P.C., to act
as
special counsel.

Pioneer Health Services estimated $10 million to $50 million in
both assets and liabilities.

Henry Hobbs, Jr., acting U.S. trustee for Region 5, on April 19
appointed three creditors of Pioneer Health Services, Inc. to
serve
on the official committee of unsecured creditors. The committee
hired Arnall Golden Gregory LLP as counsel, and GlassRatner
Advisory & Capital Group LLC as financial advisor.

                         About Rennova

Rennova Health, Inc., is a vertically integrated provider of a
suite of healthcare related products and services.  Its principal
lines of business are diagnostic laboratory services, and
supportive software solutions and decision support and informatics
operations services.

The Company reported a net loss attributable to the Company's
common shareholders of $36.4 million for the year ended Dec. 31,
2015, following net income attributable to the Company's common
shareholders of $2.81 million for the year ended Dec. 31, 2014.

As of Sept. 30, 2016, Rennova Health had $10.19 million in total
assets, $20.23 million in total liabilities and a total
stockholders' deficit of $10.03 million.

The Company said in its annual report for the year ended Dec. 31,
2015, that "Although our financial statements have been prepared on
a going concern basis, we have recently accumulated significant
losses and have negative cash flows from operations, which raise
substantial doubt about our ability to continue as a going
concern.

"If we are unable to improve our liquidity position we may not be
able to continue as a going concern.  The accompanying consolidated
financial statements do not include any adjustments that might
result if we are unable to continue as a going concern and,
therefore, be required to realize our assets and discharge our
liabilities other than in the normal course of business which could
cause investors to suffer the loss of all or a substantial portion
of their investment."


PORTOFINO TOWERS: Disclosure Statement Hearing Set for March 8
--------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Florida is
set to hold a hearing on March 8, at 11:00 a.m., to consider
approval of the disclosure statement, which explains the Chapter 11
plan of Portofino Towers 1002 LLC.

The hearing will take place at the U.S. Bankruptcy Court, Courtroom
8, 301 N. Miami Avenue, Miami, Florida.  Objections are due by
March 1.

                   About Portofino Towers 1002

Portofino Towers 1002 LLC filed a Chapter 11 bankruptcy petition
(Bankr. S.D. Fla. Case No. 16-18808) on June 21, 2016.  The
petition was signed by Laurent Benzaquen, authorized
representative.  Judge Laurel M. Isicoff presides over the case.
Joel M. Aresty, Esq., at Joel M. Aresty, P.A., represents the
Debtor as counsel.  The Debtor estimated assets and liabilities at
$1 million to $10 million, at the time of the filing.

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 Portofino Towers.

On January 17, 2017, the Debtor filed a Chapter 11 plan and a
disclosure statement.


PT BUMI RESOURCES: Files for Chapter 15 Bankruptcy Protection
-------------------------------------------------------------
PT Bumi Resources Tbk sought bankruptcy protection in the U.S.
Bankruptcy Court for the Southern District of New York on Jan. 20,
2017, seeking recognition in the United States of an insolvency
proceeding currently pending in Indonesia.  The Chapter 15 case is
assigned to Judge Mary Kay Vyskocil and Case No. 17-10115.

Headquartered in Jakarta, Indonesia, Bumi is engaged in the
business of mining and export of thermal coal.  Bumi blamed the
decrease in the global demand for coal for the deterioration of its
financial condition.  As of June 30, 2014, Bumi's net cash flow had
declined into a negative position necessitating the restructuring
process.

"Although Bumi took steps to reduce its mining costs, these savings
were not sufficient to compensate for the deline in the selling
price of thermal coal," said Kenneth R. Puhala, Esq., at Schnader
Harrison Segal & Lewis LLP, attorney for Christopher Beckham,
foreign representative of Bumi, in a declaration filed with the
Bankruptcy Court.

Castleford Investment Holdings, Ltd., one of Bumi's creditors,
filed a PKPU application against Bumi on April 6, 2016, in the
Central Jakarta Commercial Court.  A PKPU is a court-enforced
suspension of payments process which is designed to provide a
debtor a definite period of time to restructure its debt and
reorganize its affairs pursuant to a composition plan with
creditors.

On April 25, 2016, the Indonesian Court accepted Castleford's PKPU
petition and granted a temporary moratorium on payments for 45
days, during which Bumi was required to prepare a restructuring
plan and seek agreement with its creditors.

On Nov. 9, 2016, the requisite majority of Bumi's creditors voted
to approve Bumi's restructuring plan.  Specifically, a total of 98
creditors representing 4,772,103 voting rights or 99.84% in value
of Bumi's verified secured creditors, and 142 creditors
representing 3,926,955 voting rights or 100% in value of Bumi's
verified unsecured creditors, voted in favor of the PKPU Plan.  On
Nov. 28, 2016, the Indonesian Court approved the PKPU Plan.

To ensure that Bumi's reorganization is not jeopardized and the
benefits of Bumi's restructuring are fully realized, Mr. Beckham
requests that the Bankruptcy Court enter an order recognizing and
enforcing the PKPU Plan.

Bumi's Singaporean subsidiaries Bumi Investment Pte. Ltd, Bumi
Capital Pte. Ltd. and Enercoal Resources Pte. Ltd. also initiated
proceedings in the High Court of the Republic of Singapore pursuant
to Section 210(10) of the Companies Act for an order imposing a
moratorium on collection activity against them on Nov. 24, 2014.
The Singaporean Subsidiaries filed petitions under Chapter 15 of
the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the
Southern District of New York on Dec. 1, 2014.  The Bankruptcy
Court entered an order recognizing the Singapore Proceedings as a
foreign main proceedings on Jan. 22, 2015.

                        Approved PKPU Plan

The PKPU Plan restructures secured obligations, including the
obligations of the Singaporean Subsidiaries that are guaranteed by
Bumi, totaling in excess of $4.2 billion in principal and interest,
exclusive of default and/or penalty fees.

The in excess of $1.32 billion in principal and interest due under
Bumi's secured term loan with County Forest Limited, a wholly-owned
subsidiary of China Investment Corporation will be repaid as
follows: (a) 32.24% of the Term Loan CIC Debt will be replaced with
a New Senior Secured Facility and/or New 2021 Notes, as CIC may
elect in its sole discretion, (b) $150 million will be converted
into approximately 6,173,616,942 shares of Bumi allocated under the
rights issue conducted on Sept. 5, 2014; (c) 45.73% of the Total
CIC Debt will be converted into Bumi shares based on a valuation of
$4.6 billion; (d) 10.73% of the Total CIC Debt will be replaced
with a 7-year Mandatory Convertible Bond; and (e) CIC will receive
its proportional share of $100 million tradeable Contingent Value
Rights issued to New Senior Secured Creditors under the PKPU Plan.

The in excess of $600 million in principal and interest due under
Bumi's term loan with China Development Bank Corporation will be
satisfied as follows: (a) 32.24% of the Total CDB Debt will be
replaced with a New Senior Secured Facility and/or New 2021 Notes,
as CDB may elect in its sole discretion; (b) 67.76% of the Total
CDB Debt will be replaced with a new Tranche of C Facility; and (c)
CDB will receive its proportional share of $100 million in
tradeable Contingent Value Rights issued to New Secured Creditors
under the PKPU Plan.

The approximately $51 million claimed due with respect to
Castleford's loan to Bumi will be converted into Bumi shares based
upon a $4.6 billion valuation.

Under the PKPU Plan, there will be a CB Exchange Offer made to the
holders of the approximately $434 million in principal and interest
due under the Convertible Bonds pursuant to which: (a) 30% of the
Convertible Bond Debt will be converted to Bumi shares at a
valuation of $4.6 billion; and (b) 70% of the Convertible Bond Debt
will be replaced with a 7-year Mandatory Convertible Bond.

Pursuant to the PKPU Plan, there will be an RD Exchange Offer made
to the holders of the in excess of $1.79 billion in principal and
interest due under the Remaining Debt (which includes the 2016
Notes and 2017 Notes) pursuant to which: (a) 57.03% of the
Remaining Debt will be converted into shares in Bumi at a valuation
of $4.6 billion; (b) 32.24% of the Remaining Debt will be replaced
with a New Secured Facility and/or New 2021 Notes; (c) 10.73% of
the Remaining Debt will be replaced with a 7-year Mandatory
Convertible Bond; and (d) holders of the principal and interest due
under the Remaining Debt will receive a proportional share of $100
million in tradeable Contingent Value Rights issued to New Senior
Secured Creditors under the PKPU Plan.

Under the PKPU Plan, Bumi's unsecured creditors will receive Bumi
shares based upon a $4.6 billion valuation.  The total amount of
unsecured debt which will be converted to Bumi equity will not
exceed $200 million.


QUANTUMSPHERE INC: Francis Poli Quits as Director
-------------------------------------------------
Francis C. Poli voluntarily resigned from the Board of Directors of
QuantumSphere, Inc., effective Jan. 20, 2017.  According to the
Company, there were no disagreements between Mr. Poli and itself or
any officer or director of the Company which led to Mr. Poli's
resignation.  

Mr. Poli served on the Board of Directors since October 2006.  With
his resignation, Mr. Poli also resigned from his role as chairman
of the Audit, Compensation, Governance and Nominating, and
Strategic Planning and Operations Committees.  Kevin Maloney, chief
executive officer and president, will assume the chairman role of
the Audit, Compensation, Governance and Nominating, and Strategic
Planning and Operations Committees.

                  About QuantumSphere, Inc.

QuantumSphere, Inc., (QSI) has developed a process to manufacture
metallic nanopowders with end-use application focused on the
chemical sector.  The Company's principal activities include
capital formation, research and development, and marketing of its
metallic nanopowder products.  The Company manufactures various
metals, bi-metallic alloys and catalysts at the nanoscale,
including iron, silver, copper, nickel and manganese.  It offers
custom dispersions and integrated catalytic solutions for the
energy storage and chemical sectors, including nanoscale gold,
palladium, aluminum and tin.  The Company's products include
QSI-Nano Iron, QSI-Nano Silver, QSI-Nano Copper, QSI-Nano Nickel
and QSI-Nano Manganese.

QuantumSphere reported a net loss of $4.36 million on $46,669 of
net sales for the fiscal year ended June 30, 2016, compared with a
net loss of $5.31 million on $48,047 of net sales for the fiscal
year ended June 30, 2015.

As of Sept. 30, 2016, Quantumsphere had $1.11 million in total
assets, $4.52 million in total liabilities and a total
stockholders' deficit of $3.41 million.

Squar Milner LLP issued a "going concern" qualification on the
consolidated financial statements for the fiscal year ended
June 30, 2016, citing that the Company has recurring losses from
operations since inception and has limited working capital.


QUANTUMSPHERE INC: Gregory Hrncir Quits as Chief Strategy Officer
-----------------------------------------------------------------
Gregory L. Hrncir voluntarily resigned as chief strategy officer,
general counsel and secretary of QuantumSphere, Inc., effective
Jan. 20, 2017.  According to the Company, there were no
disagreements between Mr. Hrncir and itself or any officer or
director of the Company which led to Mr. Hrncir's resignation.  Mr.
Hrncir has served in various capacities with the Company since
November 2004.

                   About QuantumSphere, Inc.

QuantumSphere, Inc., (QSI) has developed a process to manufacture
metallic nanopowders with end-use application focused on the
chemical sector.  The Company's principal activities include
capital formation, research and development, and marketing of its
metallic nanopowder products.  The Company manufactures various
metals, bi-metallic alloys and catalysts at the nanoscale,
including iron, silver, copper, nickel and manganese.  It offers
custom dispersions and integrated catalytic solutions for the
energy storage and chemical sectors, including nanoscale gold,
palladium, aluminum and tin.  The Company's products include
QSI-Nano Iron, QSI-Nano Silver, QSI-Nano Copper, QSI-Nano Nickel
and QSI-Nano Manganese.

QuantumSphere reported a net loss of $4.36 million on $46,669 of
net sales for the fiscal year ended June 30, 2016, compared with a
net loss of $5.31 million on $48,047 of net sales for the fiscal
year ended June 30, 2015.

As of Sept. 30, 2016, Quantumsphere had $1.11 million in total
assets, $4.52 million in total liabilities and a total
stockholders' deficit of $3.41 million.

Squar Milner LLP issued a "going concern" qualification on the
consolidated financial statements for the fiscal year ended
June 30, 2016, citing that the Company has recurring losses from
operations since inception and has limited working capital.


REGIONAL HEALTHCARE: U.S. Trustee Unable to Appoint Committee
-------------------------------------------------------------
An official committee of unsecured creditors has not yet been
appointed in the Chapter 11 case of Regional Healthcare Services,
LLC, as of Jan. 24, according to a court docket.

Headquartered in Memphis, Tennessee, Regional Healthcare Services,
LLC, filed for Chapter 11 bankruptcy protection (Bankr. W.D. Tenn.
Case No. 16-30027) on Oct. 31, 2016, estimating its assets and
liabilities at up to $50,000.  M. Ruthie Hagan, Esq., at Baker
Donelson serves as the Debtor's bankruptcy counsel.


RENNOVA HEALTH: Closes Acquisition of Scott County Hospital
-----------------------------------------------------------
Rennova Health, Inc., has closed the previously reported asset
purchase agreement to acquire certain assets related to Scott
County Community Hospital, based in Oneida, Tennessee.

Scott County Hospital is classified as a Critical Access Hospital
(rural), with 25 beds, a 24/7 emergency department, operating rooms
and a laboratory that provides a range of ancillary diagnostic
services.  The purchase includes a 52,000 sq. ft. hospital building
and a 6,300 sq. ft. professional building on approximately 4.3
acres.

Rennova acquired the assets out of bankruptcy for $600,000 in cash,
plus the repayment of approximately $400,000 of debt secured by the
foregoing land and buildings.  Rennova believes it will have the
hospital open in part in the second quarter of 2017 and that the
hospital will be fully operational by the third quarter of 2017.

The hospital had unaudited annual revenues of approximately $12
million, and a normalized EBITDA of approximately $1.3 million for
Fiscal 2015, the last full year of the hospital's operation.  These
revenues were attributable to the typical services of a rural acute
care hospital, including ER visits, outpatient procedures,
diagnostic ancillary tests, physical therapy and inpatient hospital
stays.  Based on the hospital's historical information, Rennova
believes the hospital offers an established patient base with
stable revenues as it serves the general healthcare needs of its
community and supports local physicians.

"We are thankful to the leaders of Scott County and Oneida, TN for
welcoming us.  We are excited to become a part of the community and
to bring back this vital resource of a hospital," said Seamus
Lagan, chief executive officer of Rennova.  "Furthermore, we look
forward to getting to know and working with other healthcare
providers in East Tennessee as we serve the needs of the
community."

                  About Pioneer Health Services

Pioneer Health Services, Inc., and its debtor-affiliates,
including
Medicomp Inc., filed separate Chapter 11 bankruptcy petitions
(Bankr. S.D. Miss. Lead Case No. 16-01119) on March 30, 2016.
Pioneer Health Services of Early County, LLC, filed a Chapter 11
case on April 8, 2016. The cases are administratively
consolidated.
The petitions were signed by Joseph S. McNulty III, president.

The Debtors provide healthcare services to rural communities, and
own and manage rural critical access hospitals.

Judge Hon. Neil P. Olack presides over the Debtors' cases.

The Law Offices of Craig M. Geno PLLC serves as the Debtors'
counsel, Mintz Levin Cohn Ferris Glovsky and Popeo, P.C., to act
as
special counsel.

Pioneer Health Services estimated $10 million to $50 million in
both assets and liabilities.

Henry Hobbs, Jr., acting U.S. trustee for Region 5, on April 19
appointed three creditors of Pioneer Health Services, Inc. to
serve
on the official committee of unsecured creditors. The committee
hired Arnall Golden Gregory LLP as counsel, and GlassRatner
Advisory & Capital Group LLC as financial advisor.

                         About Rennova

Rennova Health, Inc., is a vertically integrated provider of a
suite of healthcare related products and services.  Its principal
lines of business are diagnostic laboratory services, and
supportive software solutions and decision support and informatics
operations services.

The Company reported a net loss attributable to the Company's
common shareholders of $36.4 million for the year ended Dec. 31,
2015, following net income attributable to the Company's common
shareholders of $2.81 million for the year ended Dec. 31, 2014.

As of Sept. 30, 2016, Rennova Health had $10.19 million in total
assets, $20.23 million in total liabilities and a total
stockholders' deficit of $10.03 million.

The Company said in its annual report for the year ended Dec. 31,
2015, that "Although our financial statements have been prepared on
a going concern basis, we have recently accumulated significant
losses and have negative cash flows from operations, which raise
substantial doubt about our ability to continue as a going
concern.

"If we are unable to improve our liquidity position we may not be
able to continue as a going concern.  The accompanying consolidated
financial statements do not include any adjustments that might
result if we are unable to continue as a going concern and,
therefore, be required to realize our assets and discharge our
liabilities other than in the normal course of business which could
cause investors to suffer the loss of all or a substantial portion
of their investment."


RENT-A-CENTER INC: Moody's Puts Ba3 CFR on Review for Downgrade
---------------------------------------------------------------
Moody's Investors Service placed all ratings on Rent-A-Center, Inc.
on review for downgrade. Moody's also downgraded Rent-A-Center's
Speculative Grade Liquidity Rating to SGL-4 from SGL-2. The action
reflects the company's weaker-than-expected operating performance,
downward revision in fourth quarter earnings guidance, and
potential need for financial covenant relief over the near term.

Ratings placed on review for downgrade (LGD assessments subject to
change):

-- Corporate Family Rating at Ba3;

-- Probability of Default Rating at Ba3-PD;

-- Secured revolving credit facility due 2019 at Ba1 (LGD 2);

-- Secured term loan due 2021 at Ba1 (LGD 2).

-- Senior unsecured notes due 2021 at B1 (LGD 5);

-- Senior unsecured notes due 2020 at B1 (LGD 5).

Ratings downgraded:

-- Speculative Grade Liquidity rating downgraded to SGL-4 from
SGL-2.

RATINGS RATIONALE

The review for downgrade was prompted by Rent-A-Center's January
18, 2017 announcement that its fourth quarter operating performance
was much weaker than expected, as the recovery from recent
point-of-sale ("POS") system issues did not happen as quickly as
planned, promotional activity was heavy, and delinquencies remained
at historical highs. For the three months ended December 31, 2016,
same store sales in its Core U.S. business declined approximately
14%, while Acceptance Now same store sales grew 1-2%. Diluted
losses per share on both a GAAP basis and excluding special items
are expected to be between $0.20 and $0.30, implying a significant
earnings drop in the quarter. Given the decline in its rental
portfolio, on a per store basis, the company's recurring revenue
stream was down about 10% on a year-over-year basis. Thus,
operating performance will likely remain under pressure for at
least several quarters as it will take time to rebuild the rental
portfolio. In addition, these challenges come at a time when the
company lacks a permanent CEO and CFO; although Moody's
acknowledges that the company is being run on an interim basis by
its current Chairman of the Board and founder, Mark Speese.

The downgrade of the company's Speculative Grade Liquidity rating
to SGL-4 from SGL-2 reflects a significant deterioration in cushion
under the company's fixed charge coverage covenant. Unless
addressed, compliance with this covenant will likely be tenuous, at
best, over the near term as ongoing pressures in the company's Core
U.S. business will likely continue for several quarters. Covenants
aside, the company's free cash flow has been solid, and there were
no outstanding borrowings under its $675 million revolving credit
facility as of September 30, 2016. Near term debt maturities are
not a concern, as its nearest sizeable maturity occurs in March
2019 when the revolver expires.

The review for downgrade will focus on Rent-A-Center's 1) ability
to maintain adequate liquidity through improving fixed charge
coverage covenant headroom and maintaining positive free cash flow;
2) management's strategies to stabilize performance in its Core
U.S. business while maintaining profitable growth in the Acceptance
Now business; 3) future financial policies with regards to
dividends, share repurchases and debt reduction along with the
impact of covenants or any amendments on these payments.

Rent-A-Center, Inc., with headquarters in Plano, Texas, operates
one of the largest chains of consumer rent-to-own stores in the
North America with approximately 4,470 company operated stores and
kiosks under the "Rent-A-Center" and "Acceptance Now" banners.
Rent-A-Center also franchises approximately 230 rent-to-own stores
that operate under the Rent-A-Center", "ColorTyme", and "RimTyme"
banners. The company generated over $3.0 billion in revenue for the
latest twelve month period ended September 30, 2016.

The principal methodology used in these ratings was "Retail
Industry" published in October 2015.


RESCUE ONE: Names Michael Jay Berger as Counsel
-----------------------------------------------
Rescue One Ambulance, a California Corporation seeks authorization
from the U.S. Bankruptcy Court for the Central District of
California to employ the Law Offices of Michael Jay Berger as
counsel.

The Debtor requires the law firm to:

   (a) advise the Debtor regarding matters of bankruptcy law and
       concerning the requirement of the Bankruptcy Code, and
       Bankruptcy Rules relating to the administration of the
       case, and the operation of the Debtor's estate as a debtor
       in possession;

   (b) represent the Debtor in proceedings and hearings in the
       court involving matters of bankruptcy law;

   (c) assist in compliance with the requirement of the Office of
       the U.S. Trustee;

   (d) provide the Debtor legal advice and assistance with respect

       to the Debtor's powers and duties in the continued
       operation of the Debtor's business and management of
       property of the estate;

   (e) assist the Debtor in the administration of the estate's
       assets and liabilities;

   (f) prepare necessary applications, answers, motions, orders,
       reports and other legal documents on behalf of the Debtor;

   (g) assist in the collection of all accounts receivable and
       other claims that the Debtor may have and resolve claims
       against the Debtor's estate;

   (h) provide advice, as counsel, concerning the claims of
       secured and unsecured creditors, prosecution and defense of

       all actions; and

   (i) prepare, negotiate, prosecute and attain confirmation of a
       plan of reorganization.

The law firm will be paid at these hourly rates:

       Michael Jay Berger            $495
       Sofya Davtyan, Associate      $365
       Ori Blumenfeld                $345
       Jamie Lee                     $265
       Yathida Nipha                 $200
       Karine Manvelian              $200
       Erol Guler                    $200
       Peter Garza                   $200
       Samuel Boyamian               $200

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

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

The law firm can be reached at:

       Michael Jay Berger
       LAW OFFICES OF MICHAEL JAY BERGER
       9454 Wilshire Blvd., 6th Floor
       Beverly Hills, CA 90212-2929
       Tel: (310) 271-6223
       Fax: (310) 271-9805
       E-mail: michael.berger@bankruptcypower.com

                   About Rescue One Ambulance

Rescue One Ambulance filed a Chapter 11 petition (Bankr. C.D. Cal.
Case No. 17-10002), on January 1, 2017.  The Petition was signed by
Andrew Boulos, president.  The case is assigned to Judge Barry
Russell.  The Debtor is represented by Michael Jay Berger, Esq. at
the Law Offices of Michael Jay Berger.  At the time of filing, the
Debtor estimated assets at $100,000 to $500,000 and liabilities at
$1 million to $10 million.

The Debtor owns and operate Rescue One Ambulance which is located
at 15540 Texaco Avenue, Paramount, CA 90723.  The Debtor had a
previously filed for Chapter 11 bankruptcy (Bankr. C.D. Cal. Case
No. 16-12012) on February 18, 2016, which was dismissed on December
16, 2016.


REX ENERGY: Announces Selected Preliminary Financial Results
------------------------------------------------------------
   * Fourth quarter 2016 production growth of 12% year-over-year,
     driven by a 22% year-over-year growth in liquids production

   * Full-year 2016 production of 195.3 MMcfe/d, a year-over-year
     increase of six percent; December 2016 exit rate production
     of ~200.0 MMcfe/d represents an increase of ~9% as compared
     to December 2015 exit rate production

   * With Gulf Coast transport beginning in November 2016, natural
     gas basis differentials averaged ~$0.50 off of the NYMEX
     price for November and December 2016

   * For the fourth quarter of 2016, C3+ NGL pricing, before the
     effects of cash-settled derivatives, was ~56% of WTI and ~52%
     after the effects of cash-settled derivatives

   * In the Moraine East Area, placed the two-well Klever pad into
     sales - 5-day average sales rate of 10.4 MMcfe/d; 56% liquids

Rex Energy Corporation announced fourth quarter and full-year 2016
production and estimated pricing and provided an operational
update.

All results are unaudited; they are preliminary pending the
completion of the Company's financial closing procedures.  These
preliminary estimates may be revised in connection with the
preparation of the Company's financial statements for the year
ended Dec. 31, 2016.

Production Results and Price Realizations

Rex Energy's fourth quarter 2016 production was 194.9 MMcfe/d, an
increase of 12% over the fourth quarter of 2015.  Production
consisted of 120.9 MMcf/d of natural gas and 12.3 Mboe/d of oil and
NGLs (including 5.8 Mboe/d of ethane).  Condensate and NGLs
(including ethane) accounted for 38% of production during the
quarter.

                       Operational Update

Moraine East Area

In the Moraine East Area, Rex Energy recently placed into sales the
two-well Klever pad.  The Klever wells were drilled to an average
lateral length of approximately 7,460 feet and completed in an
average of 42 stages with average sand concentrations of
approximately 2,864 pounds per foot.  The wells produced at an
average 5-day sales rate per well, assuming full ethane recovery,
of 10.4 MMcfe/d consisting of 4.5 MMcf/d of natural gas, 895 bbls/d
of NGLs and 81 bbls/d of condensate.

The company is currently completing the four-well Baird pad, which
was drilled to an average lateral length of approximately 7,140
feet.  The pad is expected to be placed into sales at the end of
the first quarter of 2017.  The company has also finished drilling
the six wells on the Shields pad, which were drilled to an average
lateral length of approximately 7,750 feet.  The Shields pad is
expected to be placed into sales in the third quarter of 2017.

Legacy Butler Operated Area

As previously reported, the company placed the two-well Geyer pad
into sales in August 2016.  The Geyer wells were drilled to an
average lateral length of approximately 4,200 feet and completed in
an average of 24 completion stages.

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

                    https://is.gd/kfEE8F

                 About Rex Energy Corporation

Headquartered in State College, Pennsylvania, Rex Energy is an
independent oil and gas exploration and production company with its
core operations in the Appalachian Basin.  The Company's strategy
is to pursue its higher potential exploration drilling prospects
while acquiring oil and natural gas properties complementary to its
portfolio.

As of Sept. 30, 2016, Rex Energy had $925.3 million in total
assets, $849.1 million in total liabilities and $76.13 million in
total stockholders' equity.

Rex Energy reported a net loss attributable to common shareholders
of $372.9 million for the year ended Dec. 31, 2015, compared to a
net loss attributable to common shareholders of $49.02 million for
the year ended Dec. 31, 2014.

                             *   *   *

As reported by the TCR on April 6, 2016, Standard & Poor's Ratings
Services said that it lowered its corporate credit rating on Rex
Energy Corp. to 'SD' from 'CC'.  "The downgrade follows Rex's
announcement that it has closed an exchange offer to existing
holders of its 8.875% and 6.25% senior unsecured notes for a new
issue of 8% senior secured second-lien notes due 2020 (not rated)
and shares of common equity," said Standard & Poor's credit analyst
Aaron McLean.

In April 2016, the TCR reported that Moody's Investors Service
downgraded REX Energy's Corporate Family Rating to 'Ca' from
'Caa3', its Probability of Default Rating to Ca-PD/LD from Caa3-PD,
its senior unsecured notes to 'C' from 'Ca'.  "The downgrade
reflects the poor overall recovery prospects as indicated by REXX's
PV-10 value.  The negative outlook is driven by the weak commodity
price environment, specifically in natural gas pricing, which could
further erode REXX's recovery value," commented Sreedhar Kona,
Moody's senior analyst.


RIDGE MANOR: Must File Plan & Disclosures by Feb. 22
----------------------------------------------------
The Hon. Catherine Peek McEwen of the U.S. Bankruptcy Court for the
Middle District of Florida has extended to Feb. 22, 2017, the
deadline for Ridge Manor Oaks, LLC, to file a plan of
reorganization and disclosure statement.

                     About Ridge Manor Oaks

Ridge Manor Oaks, LLC, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. M.D. Fla. Case No. 16-09612) on Nov. 8,
2016.  The petition was signed by Robert L. Carson, manager.  

At the time of the filing, the Debtor disclosed $1.8 million in
assets and $2.47 million in liabilities.

David W. Steen, Esq., at David W. Steen P.A. serves as the Debtor's
legal counsel.


ROCK HILL AFRICAN: Hires Bell Davis as Attorneys
------------------------------------------------
Rock Hill African Methodist Episcopal Zion Church seeks
authorization from the U.S. Bankruptcy Court for the Middle
District of North Carolina to employ Daniel C. Bruton and members
of the law firm Bell Davis & Pitt, PA as attorneys.

The Debtor requires Bell Davis to:

   (a) assist in investigating and examining contracts, bonds,
       mortgages, leases, financing statements and other related
       documents to determine the validity and priority of the
       same;

   (b) determine the rights and priorities of lienholders, if any;

   (c) advise in preserving the Debtor's properties and assets;
       and

   (d) generally assist the Debtor in administering its estate.

Bell Davis received a $10,080 retainer from the Debtor.

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

Daniel C. Bruton, member of Bell Davis, 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.

Bell Davis can be reached at:

       Daniel C. Bruton, Esq.
       BELL DAVIS & PITT, PA
       P.O. Box 21029
       Winston-Salem, NC 27120-1092
       Tel: (336) 772-3700

Headquartered in Concord, North Carolina, Rock Hill African
Methodist Episcopal Zion Church filed for Chapter 11 bankruptcy
protection (Bankr. M.D.N.C. Case No. 17-50048) on Jan. 16, 2017,
listing $799,856 in total assets and $1.36 million in total
liabilities.  The petition was signed by Robert Scott, trustee
chair.

Daniel C. Bruton, Esq., at Bell, Davis & Pitt, P.A., serves as the
Debtor's bankruptcy counsel.



ROYAL COACHMAN: Objections to Disclosure Statement Due Feb. 18
--------------------------------------------------------------
A notice was filed with the U.S. Bankruptcy Court for the Eastern
District of Washington a notice stating that objections to the
approval of the disclosure statement referring to Royal Coachman
Mobile Home Park, LLC's plan of reorganization and request for
hearing must be filed with the Clerk of the Bankruptcy Court no
later than 31 days from the date of mailing the notice.

As reported by the Troubled Company Reporter on Jan. 19, 2017, the
Debtor filed with the Court a disclosure statement dated Jan. 11,
2017, stating that under the Plan, holders of Class 13 General
Unsecured Claims will be paid in full in progressive monthly
installments.

                     About Royal Coachman

Royal Coachman Mobile Home Park, LLC, sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. E.D. Wash. Case No.
16-03109) on Oct. 3, 2016.  The petition was signed by Shannon
Hunter Burns, authorized representative.  

The Debtor is represented by Dan O'Rourke, Esq., at Southwell &
O'Rourke, P.S.

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


S DIAMOND STEEL: Taps Bluff & Associates as Special Counsel
-----------------------------------------------------------
S Diamond Steel Inc. seeks approval from the U.S. Bankruptcy Court
in Arizona to hire Bluff & Associates as its special counsel.

Bluff & Associates will represent the Debtor in connection with a
$1.9 million claim filed by the Board of Trustees of the California
Ironworkers Field Pension Trust in November last year.

The hourly rates charged by the firm are:

     Attorneys      $200 - $450
     Paralegals     $100 - $150
     Law Clerks      $75 - $175

Guy Bluff, Esq., disclosed in a court filing that his firm does not
represent any interest adverse to the Debtor or its bankruptcy
estate.

Bluff & Associates can be reached through:

     Guy W. Bluff, Esq.
     Bluff & Associates
     4205 N. 7th Avenue, Suite 201
     Phoenix, AZ 85013-3079
     Tel: (602) 452-2000
     Fax: (623) 748-5429
     Email: office@guywbluff.com
     Email: guywbluff@gmail.com

                      About S Diamond Steel

S Diamond Steel, Inc., based in Phoenix, AZ, filed a Chapter 11
petition (Bankr. D. Ariz. Case No. 16-07846) on July 11, 2016.  The
petition was signed by Matthew Miles Stevens, president.  The case
is assigned to Judge Brenda K. Martin.  Allan NewDelman, Esq., at
Allan D. NewDelman P.C. serves as the Debtor's legal counsel.

The Debtor disclosed $1.59 million in total assets and $5.58
million in total liabilities.

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

On January 16, 2017, the Debtor filed a Chapter 11 plan of
reorganization and disclosure statement.  The plan proposes to pay
Class 7 general unsecured claims in full.


SCOUT MEDIA: $4.35 -Mil. DIP Loan Has Final Approval
----------------------------------------------------
Judge Michael E. Wiles of the U.S. Bankruptcy Court for the
Southern District of New York authorized Scout Media, Inc. and its
affiliated debtors to obtain post-petition term loan financing from
Multiplier Capital, LP, and use cash collateral on a final basis.

DIP Borrowers Scout Media, Inc., Scout Media Holdings, Inc. and
Scout.com, LLC are indebted to Multiplier Capital in an amount not
less than $10,927,060.44.  Multiplier Capital was granted security
interests in and liens on substantially all assets and properties
of the DIP Borrowers.

Debtor Scout Media Holdings, Inc. owed approximately $11,557,393 on
account of Subordinated Secured Convertible Promissory Notes
pursuant to a certain Note and Warrant Purchase Agreement between
Scout Media Holdings and the Subordinated Noteholders.  The
obligations due under the Subordinated Notes are each secured by a
security agreement.

Subject to the Carve-Out, the Pre-petition liens and security
interests granted to the Pre-petition Lender are senior in priority
to all other liens on or security interests in the Pre-petition
Collateral, subject only to certain liens otherwise permitted by
the Pre-petition Loan Documents.

Judge Wiles acknowledged that the DIP Borrowers' obtaining credit
on a final basis pursuant to the DIP Facility is necessary to avoid
immediate and irreparable harm to the DIP Borrowers to continue
operations and to administer and preserve the value of their
estates.  Judge Wiles further acknowledged that the DIP Borrowers
do not have sufficient available sources of working capital or
financing to operate their businesses or maintain their properties
in the ordinary course of business without the DIP Facility.

The DIP Borrowers are authorized to borrow an aggregate principal
amount of up to $4.35 million pursuant to the DIP Documents.

The DIP Lender is granted continuing, valid, binding, enforceable,
non-avoidable, and automatically and properly perfected
post-petition, priming, first-priority security interests and liens
on all assets or property of the DIP Borrowers, subject to the
Carve-Out and Permitted Prior Liens.  The DIP Lender was also
granted an allowed super-priority administrative expense claim in
each of the DIP Borrowers' chapter 11 cases, for all of the Final
DIP Obligations, with priority over any and all administrative
expense claims and unsecured claims against the DIP Borrowers or
their estates, subject to the Carve-Out.

The proceeds of the DIP Facility will be used only for the
following purposes:

     (1) working capital and other general corporate purposes of
the DIP Borrowers; and

     (2) payment of the costs of administration of the cases,
including, the costs, fees and expenses incurred in connection with
the DIP Facility.

Multiplier Capital was granted continuing, valid, binding,
enforceable and perfected post-petition liens that will attach to
the DIP Collateral, which liens will be junior to the DIP Liens,
the Permitted Prior Liens, the Pre-petition Liens and the
Carve-Out.  Multiplier Capital was also granted an allowed
superpriority administrative expense claim in each of the cases,
which will be junior only to the Final DIP Obligations, the
Superpriority DIP Claim, the Carve-Out, and with respect to the DIP
Collateral, any validly perfected secured claim.

The Carve-Out consists of quarterly fees required to be paid
pursuant to 28 U.S.C. Section 1930(a)(6), any fees payable to the
Clerk of the Bankrptcy Court, and payment of allowed professional
fees and disbursements incurred by retained bankruptcy counsel and
financial advisor:

     (1) arising from services performed or expenses incurred prior
to the earlier of the date on which the DIP Lender provides written
notice to DIP Borrowers that either an Event of Default has
occurred or the DIP Loan Agreement is terminated, or the
Termination Date;

     (2) in an amount not to exceed $50,000 arising from services
performed or expenses incurred following the Carve-Out Trigger
Notice; and

     (3) in an amount not to exceed $20,000 arising from services
performed or expenses incurred by a chapter 7 trustee following the
Carve Out Trigger Notice.

The liens granted under the Court's Final Order and the protections
of the DIP Lender and Pre-petition Lender will survive the entry of
any order that may be entered:

     (a) confirming any plan of reorganization in any of the DIP
Borrowers' Cases;

     (b) converting any or all of the DIP Borrowers' chapter 11
cases to a case under Chapter 7 of the Bankruptcy Code;

     (c) dismissing any or all of the DIP Borrowers' chapter 11
cases; or

     (d) pursuant to which the Court abstains from hearing any of
the DIP Borrowers' bankruptcy cases.

Judge Wiles held that Debtor FTFS Acquisition, LLC will have no
obligations with respect to the DIP Loan Agreement and the DIP Loan
Documents.  He further held that the fee payable in connection with
the financing authorized by the Court's Interim and Final Orders
will be $217,500.

The proposed limits in the Supplemental Budget regarding the fees
payable to counsel for an Unsecured Creditors Committee, and any
provision of the proposed DIP Loan Agreement that purports to limit
such amounts were modified to permit payments of up to $350,000 for
professionals for an Unsecured Creditors Committee.  $75,000 of
such amount can be used to investigate and pursue a Challenge.

A full-text copy of the Final Order, dated Jan. 18, 2017, is
available at
http://bankrupt.com/misc/ScoutMedia2016_1613369mew_160.pdf

                    About Scout Media, Inc.

Scout Media, Inc., is a privately held digital sports media company
that publishes and distributes content related to the National
Football League, fantasy sports, college football and basketball,
high school recruiting, hunting, fishing, outdoors, military, and
history. Scout Media owns and operates a digital network of 150
team-specific, credentialed publishers, and their respective social
communities. Scout Media is the only sports network with a
full-time video channel for every NFL and major college team.

North American Membership Group Holdings, Inc., bought Scout Media
from Scout Media in 2013.

An involuntary Chapter 11 petition was filed against Scout Media,
Inc. (Bankr. S.D.N.Y. Case No. 16-13369) on Dec. 1, 2016, by LSC
Communications, Inc. f/d/b/a R.R. Donnelley & Sons Co., On Safari
Foods, and Imatch. The petitioners are represented by Joy R.
Grafton, Esq., at Popper & Grafton.

The Debtors hired Womble Carlyle Sandridge & Rice, LLP as counsel,
Sherwood Partners, Inc. as financial advisor, and Epiq Bankruptcy
Solutions, LLC as administrative advisor and claims and noticing
agent.

On Dec. 8, 2016, affiliates of Scout Media filed a voluntary
Chapter 11 bankruptcy petition.  Scout Media Holdings listed under
$50 million in both assets and liabilities; Scout.com, LLC listed
under $50,000 in assets, and under $10 million in liabilities; and
FTFS Acquisition listed under $10 million in both assets and
liabilities.

William K. Harrington, U.S. Trustee for Region 2, on Dec. 15, 2016,
appointed three creditors of Scout Media, Inc., et al., to serve on
the official committee of unsecured creditors.



SIGEL'S BEVERAGES: Asks Court to Hold Plan Hearing on April 10
--------------------------------------------------------------
Sigel's Beverages, LP, filed with the U.S. Bankruptcy Court for the
Northern District of Texas a motion to approve the disclosure
statement referring to the Debtor's plan of reorganization.

The Debtor requests that the Court set a hearing to consider
confirmation of the Plan, subject to the Court's availability, on
April 10, 2017.  The Debtor submits that the proposed timing for
the Confirmation Hearing complies with the U.S. Bankruptcy Code,
the U.S. Bankruptcy Rules, and the Local Rules of the U.S.
Bankruptcy Court, and will enable to the Debtor to pursue
confirmation of the Plan in a timely fashion.

The Debtor also asks that the Court establish:

     a. April 3, 2017, at 4:00 p.m. (prevailing Central Time) as
        the deadline to file and serve objections and responses to

        the Plan; and

     b. April 3, 2017, at 5:00 p.m. (prevailing Central Time) as
        the deadline by which the Debtor must receive a ballot.

The Debtor assures the Court that the Disclosure Statement contains
"adequate information".  

As reported by the Troubled Company Reporter on Jan. 3, 2017, the
Debtor filed with the Court a plan of reorganization and
accompanying disclosure statement, which contemplates the
cancellation of the equity interests in the Debtor and the sale of
new equity interests in the Reorganized Debtor.  The Purchase Price
will be first used to insure that the Senior Claim Reserve is fully
funded.  To the extent cash remains from the Purchase Price after
fully funding the Senior Claim Reserve, the Cash will be used to
make a Contingent Initial Distribution to the holders of Allowed
Class 5 General Unsecured Claims.

                     About Sigel's Beverage

Sigel's Beverage, L.P., engages in the wholesale distribution and
retail of alcoholic beverages.  

The Debtor sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. N.D. Tex. Case No. 16-34118) on Oct. 20, 2016.
The petition was signed by Anthony J. Bandiera, chief executive
officer of Milan General Investments, Inc., general partner of the
Debtor.  

The Hon. Barbara J. Houser presides over the Debtor's case.  

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

Gerrit M. Pronske, Esq., Melanie P. Goolsby, Esq., Jason P.
Kathman, Esq., at Pronske Goolsby & Kathman, P.C., serve as the
Debtor's bankruptcy counsel.

Bridgepoint Consulting, LLC, is the Debtor's financial advisor.


SILGAN HOLDINGS: Moody's Puts Ba1 CFR Under Review for Downgrade
----------------------------------------------------------------
Moody's Investors Service, placed Silgan Holdings Inc.'s Ba1
corporate family rating, Ba1-PD probability of default rating, and
all other instrument ratings under review for downgrade. The review
follows Silgan's announcement on January 23, 2017 that it has
entered into a definitive agreement with WestRock Company (Baa2
stable) to acquire its specialty closures and dispensing systems
business in an all cash transaction.

Aggregate consideration for the acquisition will be $1.025 billion,
subject to adjustments outlined in the purchase agreement. The
transaction is subject to the satisfaction of certain customary
conditions and receipt of applicable regulatory approvals and is
expected to close late in the first quarter of 2017. Silgan expects
to initially fund the purchase price for this acquisition from a
combination of cash on hand and borrowings under the Company's
senior secured credit facility, including a committed incremental
term loan of $800 million.

Moody's placed the following ratings under review for downgrade:

Issuer: Silgan Holdings Inc.

-- Corporate Family Rating, Placed on Review for Downgrade,
currently Ba1

-- Probability of Default Rating, Placed on Review for Possible
Downgrade, currently Ba1-PD

-- Senior Secured Bank Credit Facilities, Placed on Review for
Downgrade, currently Ba1 (LGD3)

-- Senior Unsecured Regular Bond/Debenture, Placed on Review for
Downgrade, currently Ba2 (LGD5)

Outlook Actions:

-- Outlook, Changed To Rating Under Review From Stable

RATINGS RATIONALE

The review for downgrade reflects pro forma leverage that is well
above the downgrade trigger set in the most recent credit opinion
and the integration and operating risk inherent in the acquisition.
Pro forma leverage is approximately well over 4.0 times and other
credit metrics are projected to be strained as well.

Moody's review will focus on Silgan's projected EBITDA and free
cash flow and the company's plans to integrate the acquisition and
delever. The review will also focus on the company's ongoing
productivity initiatives and the projected change in its operating
profile stemming from acquisitions. The corporate family rating
downgrade, if any, is expected to be no more than one notch.

The rating could be upgraded if Silgan commits to investment grade
financial policies and sustainably improves credit metrics within
the context of continued stability in the operating and competitive
environment. Specifically, the ratings could be upgraded if debt to
EBITDA improves to below 3.0 times, EBITDA to interest expense
improves to over 7.0 times, and/or fund from operation to debt
improves to over 23%.

Silgan's credit metrics are at the bottom of the rating category
and the company will need to execute on its operating plan and use
its free cash flow accordingly to maintain credit metrics within
the rating category. Additionally, continued acquisitions that
alter the company's business and operating profile or significant
debt financed acquisitions may also prompt a downgrade. The ratings
could also be downgraded if there is deterioration in the operating
and competitive environment, deterioration in credit metrics and/or
change in financial policies to the detriment of debt holders.
Specifically, the ratings could be downgraded if adjusted debt to
EBITDA remains above 3.3 times, fund from operation to debt remains
below 20%, and/or EBITDA to interest expense declines to below 6.0
times.

The principal methodology used in these ratings was Packaging
Manufacturers: Metal, Glass, and Plastic Containers published in
September 2015.

Headquartered in Stamford, Connecticut, Silgan Holdings Inc.
(Silgan) is a manufacturer of metal and plastic consumer goods
packaging products including food cans, closures for food and
beverage products (both metal and plastic), and plastic containers
for the personal care, health care, shelf-stable food,
pharmaceutical, household and industrial chemicals industries.
Consolidated net revenue for the 12 months ended September 30, 2016
was approximately $3.6 billion. Approximately 30% of the
outstanding stock is owned by the two founders of the company.


SILGAN HOLDINGS: S&P Puts 'BB+' CCR on CreditWatch Negative
-----------------------------------------------------------
S&P Global Ratings said that it has placed all of its ratings on
Silgan Holdings Inc., including its 'BB+' corporate credit rating,
on CreditWatch with negative implications.

"The CreditWatch negative placement follows Silgan's announcement
that it will acquire Westrock Co.'s specialty closures and
dispensing systems business for about $1.025 billion and reflects
the likelihood that the company's credit measures will weaken
meaningfully over the next 12 months," said S&P Global credit
analyst Steven Mcdonald.  Initially, Silgan expects to fund this
acquisition with a combination of cash on hand and borrowings under
its senior secured credit facilities, which include a committed
incremental $800 million term loan.  Under this proposed funding
structure, S&P estimates that the company's pro forma S&P Global
adjusted debt leverage will likely increase to around 4.75x-5.00x
from about 4.10x as of Sept. 30, 2016.

S&P intends to resolve the CreditWatch placement after evaluating
Silgan's post-transaction financial policies and capital allocation
plans, including management's willingness to direct the company's
free cash flow toward debt reduction rather than shareholder
returns or additional acquisitions.  S&P also intends to assess how
the newly acquired business will affect the company's existing
competitive position and will review any risks associated with
integrating the newly acquired business.


SINGLETON CREEK: Taps Brown Realty as Real Estate Broker
--------------------------------------------------------
Singleton Creek, Inc. seeks approval from the U.S. Bankruptcy Court
for the Northern District of Georgia to hire a real estate broker.

The Debtor proposes to hire Brown Realty Advisors Inc. in
connection with any potential sale of its properties.  The firm
will receive a commission of 2.5% of the sales price.

Barden Brown, a real estate broker employed with Brown Realty,
disclosed in a court filing that the firm is a "disinterested
person" as defined in section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Barden Brown
     Brown Realty Advisors Inc.
     1303 Hightower Trail, Suite 205
     Atlanta, GA 30350
     Phone: 770-594-1915
     Email: barden@brownra.com

                     About Singleton Creek

Singleton Creek, Inc. owns and operates a golf course, driving
range and restaurant located at 2789 Satellite Boulevard, Duluth,
Georgia.

The Debtor sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. N.D. Ga. Case No. 16-71772) on December 5, 2016.  The
petition was signed by Hoke S. Randall, III, president.  The Law
Offices of Douglas Jacobson, LLC serves as the Debtor's bankruptcy
counsel.

At the time of the filing, the Debtor disclosed $5.02 million in
assets and $3.54 million in liabilities.


SMS SYSTEMS: S&P Affirms 'B' CCR on Merger with Curvature LLC
-------------------------------------------------------------
S&P Global Ratings said that it affirmed its 'B' corporate credit
rating to Charlotte, N.C.-based SMS Systems Maintenance Services
Inc.  The outlook is stable.

SMS Systems announced it had entered into a definitive agreement to
merge with competitor Curvature LLC, a leading hardware provider in
the TPM market.  SMS will fund the transaction with an incremental
$345 million credit facility, consisting of an incremental $15
million first-lien revolver, an incremental $270 first-lien term
loan, and an incremental $60 million second-lien notes.

At the same time, S&P affirmed its 'B+' issue-level rating on the
company's $55 million revolving credit facility due 2022 and its
$530 million first-lien term loan due 2023.  The '2' recovery
rating is unchanged, indicating S&P's expectation for substantial
(70%-90%; at the lower end of the range) recovery in the event of
payment default.

S&P also affirmed its 'CCC+' issue-level rating on the company's
$175 million second-lien notes due 2024.  The '6' recovery rating
is unchanged, indicating S&P's expectation for negligible (0%-10%)
recovery in the event of a payment default.

The 'B' corporate credit rating reflects S&P's view of the combined
entity's adjusted pro forma leverage at transaction close in the
low-7x area, which S&P expects will decrease to the mid- to high-6x
area at the end of 2017; relatively small scale with limited
diversification; increased exposure to the less predictable
hardware industry through the merger with Curvature; and
competition against larger original equipment manufacturers (OEMs)
such as IBM.  The company's leadership position in the niche TPM
market, high-retention rates, limited customer concentration, and
above-average margins for the sector partly offset these factors.

"The stable outlook reflects our belief that SMS will successfully
integrate Curvature, while remaining competitive in the third-party
server maintenance market and generating moderate top-line and
EBITDA growth," said S&P Global Ratings' credit analyst Dee
Banson.

S&P could lower the rating on SMS if disruptions in the integration
with Curvature or business loss result in leverage sustained above
the 7x or free cash flow to debt sustained below 5%.

The company's niche market position, limited track record at this
scale, and ownership structure that S&P believes will preclude
substantial deleveraging limit the possibility of an upgrade over
the near term.  Over the longer term, S&P would consider an upgrade
if the company were to maintain positive operating performance
while committing to and sustaining leverage below 5x.


SOUTHWESTERN STEEL: Plan Confirmation Hearing Set for March 23
--------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Arizona is set to
hold a hearing on March 23, at 11:15 a.m., to consider confirmation
of the Chapter 11 plan of reorganization proposed by Southwestern
Steel & Supply Co., Inc.

The hearing will take place at John M. Roll U.S. Courthouse,
Courtroom 1, 2nd Floor, 98 West 1st Street, Yuma, Arizona.  

The court set a March 16 deadline for creditors to cast their votes
and file objections to the plan.

Southwestern Steel's restructuring plan proposes to pay Class 4
general unsecured creditors 100% of their allowed claims, according
to a Sept. 16, 2016 report by Troubled Company Reporter.  

                    About Southwestern Steel

Southwestern Steel & Supply Co., Inc., based in Yuma, AZ, filed a
Chapter 11 petition (Bankr. D. Ariz. Case No. 14-06520) on April
30, 2014.  Since 1964, the Debtor has been in the business of steel
fabrication and erection.  The Hon. Brenda Moody Whinery presides
over the case.  The Debtor listed total assets of $1.09 million and
liabilities of $280,357.  The petition was signed by John T.
Beltran, president.

The Debtor is represented by:

         Phil Hineman, Esq.
         LAW OFFICE OF PHIL HINEMAN, P.C.
         220 South Second Avenue
         Yuma, AZ 85364
         Tel: (928) 341-9600
         Fax: (928) 341-9603
         Email: phineman@hineman.com


SPENCER TRANSPORTATION: Taps Benton & Centeno as Attorneys
----------------------------------------------------------
Spencer Transportation, LLC seeks authorization from the U.S.
Bankruptcy Court for the Northern District of Alabama to employ Lee
R. Benton, Samuel Stephens and the law firm of Benton & Centeno,
LLP as attorneys to represent the Debtor in the Chapter 11 case.

Benton & Centeno will be paid at these hourly rates:

       Lee R. Benton                   $400
       Samuel C. Stephens, Associate   $200
       Paralegal                       $80

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

A deposit of $10,000 was paid by the Debtor prior to filing the
bankruptcy petition. Prior to filing the petition, Benton & Centeno
was paid for pre-petition services of $2,212.50, leaving a deposit
of $7,787.50 as of the petition date. The filing fee of $1,717 was
also received and paid into the Court.

Lee R. Benton and Samuel C. Stephens of Benton & Centeno 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.

Benton & Centeno can be reached at:

      Lee R. Benton, Esq.
      Samuel C. Stephens, Esq.
      BENTON & CENTENO LLP
      2019 Third Avenue North
      Birmingham, AL 35203
      Tel: (205) 278-8000
      Fax: (205) 278-8005
      E-mail: lbenton@bcattys.com
              sstephens@bcattys.com

                 About Spencer Transportation

Spencer Transportation, LLC, filed a Chapter 11 petition (Bankr.
N.D. Ala. Case No. 17-70012), on Jan. 4, 2017.  The petition was
signed by its Manager, Dwayne F. Haney.  At the time of filing, the
Debtor had less than $50,000 in estimated assets and $500,000 to $1
million in estimated liabilities.  The Debtor is represented by Lee
R. Benton, Esq. at Benton & Centeno, LLP.


SPENDSMART NETWORKS: Chief Strategy Officer to Resign
-----------------------------------------------------
Alex Minicucci will resign as chief strategy officer and no longer
be employed by the Company effective Feb. 10, 2017, as disclosed in
a Form 8-K report filed with the Securities and Exchange
Commission.

                   About SpendSmart Networks

SpendSmart Networks provides proprietary loyalty systems and a
suite of digital engagement and marketing services that help local
merchants build relationships with consumers and drive revenue.
These services are implemented and supported by a vast network of
certified digital marketing specialists, aka "Certified
Masterminds," who drive revenue and consumer relationships for
merchants via loyalty programs, mobile marketing and website
development.  Consumers' dollars go further when they spend it with
merchants in the SpendSmart network of merchants, as they receive
exclusive deals, earn rewards and ultimately build a connection
with their favorite merchants.

Spendsmart Networks reported a net loss of $11.9 million on $5.58
million of total revenues for the year ended Dec. 31, 2015,
compared to a net loss of $12.2 million on $4.03 million of total
revenues for the year ended Dec. 31, 2014.

As of Sept. 30, 2016, Spendsmart Networks had $3.27 million in
total assets, $6.48 million in total liabilities and a total
stockholders' deficit of $3.21 million.

EisnerAmper LLP, in Iselin, New Jersey, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2015, citing that the Company has recurring losses
and has yet to establish a profitable operation and at Dec. 31,
2015, has negative working capital and stockholders' deficit.
These factors among others raise substantial doubt about its
ability to continue as a going concern.


SPENDSMART NETWORKS: Issues $100,000 Convertible Note to Director
-----------------------------------------------------------------
Spendsmart Networks, Inc., issued a convertible promissory note to
Isaac Blech, a member of the Company's board of directors, in the
sum of $100,000 on Jan. 23, 2017.  The Convertible Promissory Notes
bear interest at the rate of 9%, has a six month maturity date, and
a voluntary conversion into an upcoming financing in the event the
Company closes a financing and receives gross proceeds totaling at
least $200,000.

The note was not registered under the Securities Act of 1933, as
amended, in reliance upon the exemption from registration contained
in Section 4(2) of the Act.  The note and the shares or other
securities potentially issuable upon the conversion of the note may
not be reoffered or sold in the United States by the holder in the
absence of an effective registration statement or exemption from
the registration requirements of the Act.

                     About SpendSmart Networks

SpendSmart Networks provides proprietary loyalty systems and a
suite of digital engagement and marketing services that help local
merchants build relationships with consumers and drive revenue.
These services are implemented and supported by a vast network of
certified digital marketing specialists, aka "Certified
Masterminds," who drive revenue and consumer relationships for
merchants via loyalty programs, mobile marketing and website
development.  Consumers' dollars go further when they spend it with
merchants in the SpendSmart network of merchants, as they receive
exclusive deals, earn rewards and ultimately build a connection
with their favorite merchants.

Spendsmart Networks reported a net loss of $11.9 million on $5.58
million of total revenues for the year ended Dec. 31, 2015,
compared to a net loss of $12.2 million on $4.03 million of total
revenues for the year ended Dec. 31, 2014.

As of Sept. 30, 2016, Spendsmart Networks had $3.27 million in
total assets, $6.48 million in total liabilities and a total
stockholders' deficit of $3.21 million.

EisnerAmper LLP, in Iselin, New Jersey, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2015, citing that the Company has recurring losses
and has yet to establish a profitable operation and at Dec. 31,
2015, has negative working capital and stockholders' deficit.
These factors among others raise substantial doubt about its
ability to continue as a going concern.


SUNEDISON INC: Allowed to File Chapter 11 Plan Until February 27
----------------------------------------------------------------
Judge Stuart M. Bernstein of the U.S. Bankruptcy Court for the
Southern District of New York extended the exclusive periods during
which only SunEdison, Inc. and certain of its affiliates may file a
Chapter 11 plan of reorganization and solicit acceptances of such
plan, or through and including February 27, 2017 and April 28,
2017, respectively.

The Troubled Company Reporter had earlier reported that the Debtors
sought exclusivity extension, contending that they needed a little
more time in order to decide the best course -- either to file a
plan that toggles to alternative outcomes based on resolution of
certain of the several outstanding controversies that were still at
issue or to wait until certain of these matters become more clear.

The Debtors related that since the last extension of the Exclusive
Periods, they had worked to build consensus with respect to the
various issues that must be dealt with by the plan -- while at the
same time continuing their efforts to maximize the Debtors'
remaining assets.

The Debtors also related that since the Second Exclusivity
Extension, the Committee filed numerous complaints and motions,
including an adversary proceeding against all of the plaintiffs in
the multi-district litigation pending in the United States District
Court for the Southern District of New York, including other
plaintiffs not part of the MDL Litigation [Adv. Proc. No.
16-01257], as well as motions for derivative standing (a) to bring
claims belonging to the Debtors' estates against certain of the
Debtors' directors and officers, and (b) to bring certain avoidance
actions against the Yieldcos.

Notwithstanding the numerous complaints and motions filed by the
Committee in an attempt to leverage their rights to a greater
effect in the plan process, the Debtors had continued their
successful marketing and selling of Projects and have now entered
into several definitive asset purchase agreements for a total of
approximately $770 million in expected gross sale proceeds.

The Debtor told the Court that they have also continued their
well-publicized joint marketing process for their interests in the
Yieldcos, and the initial stage of this process has just recently
concluded.  Final bids for Terra Form Power, Inc., were due January
9, 2017.

Likewise, the Court entered a consent order which resolves the D&O
Standing Motion, by granting the Committee standing to assert
claims against certain directors and officers but requiring the
Committee not to file a complaint asserting those claims until the
Court decided whether to stay any non-MDL litigation to preserve
the D&O insurance policies.

In addition, the presiding judge in the MDL Litigation, the
Honorable P. Kevin Castel, ordered all parties into mediation until
March 31, 2017.  Accordingly, the Debtors informed the Court, which
recently entered a consent order to require the D&O litigation
parties not bound by Judge Castel's mediation order to participate
in the mediation and staying the non-MDL actions through March 31,
2017 in order to preserve the D&O insurance proceeds.

Resolution of the D&O Standing Motion could result in recoveries
that might not otherwise have been available to unsecured creditors
and this result is principally due to the Debtors' successful
efforts to drive a consensual resolution among all of the estates'
constituents.

                             About SunEdison, Inc.

SunEdison, Inc. (OTC PINK: SUNEQ), is a developer and seller of
photovoltaic energy solutions, an owner and operator of clean power
generation assets, and a global leader in the development,
manufacture and sale of silicon wafers to the semiconductor
industry.

On April 21, 2016, SunEdison, Inc., and 25 of its affiliates each
filed a Chapter 11 bankruptcy petition (Bankr. S.D.N.Y. Case Nos.
16-10991 to 16-11017).  Martin H. Truong, the senior vice
president, general counsel and secretary, signed the petitions.

The Debtors disclosed total assets of $20.7 billion and total debt
of $16.1 billion as of Sept. 30, 2015.

The Debtors have hired Skadden, Arps, Slate, Meagher & Flom LLP as
counsel, Togut, Segal & Segal LLP as conflicts counsel, Rothschild
Inc. as investment banker and financial advisor, McKinsey Recovery
& Transformation Services U.S., LLC, as restructuring advisors and
Prime Clerk LLC as claims and noticing agent.  The Debtors employed
PricewaterhouseCoopers LLP as financial advisors; and KPMG LLP as
their auditor and tax consultant.

SunEdison also has tapped Eversheds LLP as its special counsel for
Great Britain and the Middle East.  Cohen & Gresser LLP has also
been retained as special counsel.

The Debtors retained Ernst &Young LLP to provide tax-related
services.  Keen-Summit Capital Partners LLC has been hired as real
estate advisor.  Binswanger of Texas, Inc. also has been retained
as real estate agent.

Sullivan & Cromwell LLP serves as counsel to TerraForm Power, Inc.,
and TerraForm Global, Inc.

An official committee of unsecured creditors has been appointed in
the case.  The Committee tapped Weil, Gotshal & Manges LLP as its
general bankruptcy counsel and Morrison & Foerster LLP as special
counsel.  Togut, Segal & Segal LLP and Kobre & Kim LLP serve as
conflicts counsel.  Alvarez & Marsal North America, LLC, serves as
the Committee's financial advisors.

Counsel to the administrative agent under the Debtors' prepetition
first lien credit agreement are Richard Levy, Esq., and Brad
Kotler, Esq., at Latham & Watkins.

Counsel to the administrative agent under the postpetition DIP
financing facility are Scott Greissman, Esq., and Elizabeth Feld,
Esq. at White & Case LLP.

Counsel to the Tranche B Lenders (as defined in the DIP credit
agreement) and the steering committee of the second lien creditors
are Arik Preis, Esq., and Naomi Moss, Esq., at Akin Gump Strauss
Hauer & Field, LLP.

Counsel to the administrative agent under the Debtors' prepetition
second lien credit agreement is Daniel S. Brown, Esq., at Pillsbury
Winthrop Shaw Pittman LLP.

The collateral trustee under the Debtors' prepetition second lien
credit agreement and the indenture trustee under each of the
Debtors' outstanding bond issuances, is represented by Marie C.
Pollio, Esq., at Shipman & Goodwin LLP.

Counsel to the ad hoc group of certain holders of the Debtors'
convertible senior notes is White & Case LLP's Tom Lauria, Esq.


SUNEDISON INC: No Value Left for Shareholders, Fin'l Advisor Says
-----------------------------------------------------------------
Homer Parkhill, managing director of Rothschild, Inc., the
financial advisor to SunEdison Inc., et al., filed a declaration in
response to certain requests for the appointment of an official
committee of equity security holders in the Debtors' Chapter 11
cases.

According to Mr. Parkhill, it is "entirely unlikely that there will
be any distributable value available for distribution to equity,"
pointing out that the Debtors' operating cash plus anticipated net
proceeds plus estimated earn-outs plus the estimated $870 million
of SunEdison Inc.'s approximately 35% equity interests in TerraForm
Power, Inc. (TERP) and TerraForm Global, Inc. (GLBL) -- the
Yieldcos -- results in total net asset sales proceeds of
approximately $1.2 billion after repayment of all approximately
$251 million of DIP borrowings.

Mr. Parkhill added that "[t]he Debtors hope to reorganize around
their equity interests in the Yieldcos and the earnouts they have
received in various sale transactions.  However, for equity holders
to realize any value, the total distributable proceeds would have
to increase by a factor of over four times in excess of the asset
values set forth above before the Debtors would come close to
satisfying their approximately $4.6 billion3 in secured and general
unsecured claims (which amount does not include any amounts for
contingent and litigation related claims).

As previously reported by The Troubled Company Reporter, several
SunEdison Inc. common shareholders have sent letters to the Hon.
Judge Stuart M. Bernstein asking the Bankruptcy Court to consider
the appointment of an official committee of equity security holders
in the Chapter 11 cases of SunEdison Inc.

One of those letters, from Ali Abidi, says:

"DANGER!! Even after Evidence has stacked against them, Debtors
continue to delay the already super-delayed Financials (10K/10Qs)
and plan to sell off YieldCos for pennies on the dollar, and wipe
out common Shareholders before the incriminating 10K/10Qs can be
filed. Please apply TREMENDOUS PRESSURE on Debtors to release 10K
and 10Qs. And please support us for OEC (Official Equity
Committee)."

SunEdison Inc.'s CEO, John S. Dubel, testified during a hearing in
Manhattan bankruptcy court on Dec. 22 that he believes the
renewable energy giant may have "substantial" and plausible claims
against its yieldco subsidiaries, and allowing unsecured creditors
to pursue them derivatively would short-circuit a joint process
seeking sale or reorganization.

A full-text copy of the Parkhill Declaration dated Jan. 11, 2017,
is available at:

           http://bankrupt.com/misc/nysb16-10992-2216.pdf

                       About SunEdison, Inc.

SunEdison, Inc. (OTC PINK: SUNEQ), is a developer and seller of
photovoltaic energy solutions, an owner and operator of clean power
generation assets, and a global leader in the development,
manufacture and sale of silicon wafers to the semiconductor
industry.

On April 21, 2016, SunEdison, Inc., and 25 of its affiliates each
filed a Chapter 11 bankruptcy petition (Bankr. S.D.N.Y. Case Nos.
16-10991 to 16-11017).  Martin H. Truong, the senior vice
president, general counsel and secretary, signed the petitions.

The Debtors disclosed total assets of $20.7 billion and total debt
of $16.1 billion as of Sept. 30, 2015.

The Debtors have hired Skadden, Arps, Slate, Meagher & Flom LLP as
counsel, Togut, Segal & Segal LLP as conflicts counsel, Rothschild
Inc. as investment banker and financial advisor, McKinsey Recovery
& Transformation Services U.S., LLC, as restructuring advisors and
Prime Clerk LLC as claims and noticing agent.  The Debtors
employed
PricewaterhouseCoopers LLP as financial advisors; and KPMG LLP as
their auditor and tax consultant.

SunEdison also has tapped Eversheds LLP as its special counsel for
Great Britain and the Middle East.  Cohen & Gresser LLP has also
been retained as special counsel.

The Debtors retained Ernst &Young LLP to provide tax-related
services.  Keen-Summit Capital Partners LLC has been hired as real
estate advisor.  Binswanger of Texas, Inc. also has been retained
as real estate agent.

Sullivan & Cromwell LLP serves as counsel to TerraForm Power,
Inc.,
and TerraForm Global, Inc.

An official committee of unsecured creditors has been appointed in
the case.  The Committee tapped Weil, Gotshal & Manges LLP as its
general bankruptcy counsel and Morrison & Foerster LLP as special
counsel.  Togut, Segal & Segal LLP and Kobre & Kim LLP serve as
conflicts counsel.  Alvarez & Marsal North America, LLC, serves as
the Committee's financial advisors.

Counsel to the administrative agent under the Debtors' prepetition
first lien credit agreement are Richard Levy, Esq., and Brad
Kotler, Esq., at Latham & Watkins.

Counsel to the administrative agent under the postpetition DIP
financing facility are Scott Greissman, Esq., and Elizabeth Feld,
Esq. at White & Case LLP.

Counsel to the Tranche B Lenders (as defined in the DIP credit
agreement) and the steering committee of the second lien creditors
are Arik Preis, Esq., and Naomi Moss, Esq., at Akin Gump Strauss
Hauer & Field, LLP.

Counsel to the administrative agent under the Debtors' prepetition
second lien credit agreement is Daniel S. Brown, Esq., at
Pillsbury
Winthrop Shaw Pittman LLP.

The collateral trustee under the Debtors' prepetition second lien
credit agreement and the indenture trustee under each of the
Debtors' outstanding bond issuances, is represented by Marie C.
Pollio, Esq., at Shipman & Goodwin LLP.

Counsel to the ad hoc group of certain holders of the Debtors'
convertible senior notes is White & Case LLP's Tom Lauria, Esq.


TAMPA HYDE PARK: Feb. 23 Plan Confirmation Hearing
--------------------------------------------------
The Hon. Catherine Peek McEwen of the U.S. Bankruptcy Court for the
Middle District of Florida has conditionally approved Tampa Hyde
Park Cafe LLC's disclosure statement referring to the Debtor's plan
of reorganization.

A hearing to consider the adequacy of the Disclosure Statement and
the confirmation of the Plan will be held on Feb. 23, 2017, at 3:00
p.m.

Objections to the approval of the Disclosure Statement and
confirmation to the Plan must be filed no later than seven days
prior to the hearing.

Parties-in-interest will submit to the Clerk's office their written
ballot accepting or rejecting the Plan no later than eight days
before the hearing.

The plan proponent will file a ballot tabulation no later than 96
hours prior to the hearing.

All creditors and parties in interest that assert a claim against
the Debtor which arose after the filing of this case, including all
professionals seeking compensation from the estate of the
Debtor pursuant to Section 330 of the U.S. Bankruptcy Code, must
file motions or applications for the allowance of such claims with
the Court no later than 15 days after the Jan. 18 entry of this
court order.

Three days prior to the hearing, the plan proponent will file a
confirmation affidavit which will contain the factual basis upon
which the plan proponent relies in establishing that each of the
requirements of Section 1129 of the Bankruptcy Code are met.

                        About Tampa Hyde

Tampa Hyde Park Cafe LLC sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. M. D. Fla. Case No. 16-04868) on June 6,
2016.  The petition was signed by Thomas Ortiz, managing member.  

The Debtor is represented by Leon A. Williamson, Jr., Esq., at the
Law Office of Leon A. Williamson, Jr. P.A.  The Debtor's original
counsel was W. Bart Meacham, Esq., who has not had an application
to be employed approved.

At the time of the filing, the Debtor estimated its assets at
$100,000 to $500,000 and debts at $1 million to $10 million.


TARA RETAIL: Voluntary Chapter 11 Case Summary
----------------------------------------------
Debtor: Tara Retail Group, LLC
        Post Office Box 190
        Bonita Springs, FL 34133

Case No.: 17-00057

Chapter 11 Petition Date: January 24, 2017

Court: United States Bankruptcy Court
       Northern District of West Virginia (Clarksburg)

Judge: Hon. Patrick M. Flatley

Debtor's Counsel: Steven L. Thomas, Esq.
                  KAY, CASTO & CHANEY PLLC
                  1600 Charleston National Plaza
                  P.O. Box 2031
                  Charleston, WV 25327
                  Tel: (304) 345-8900
                  Fax: 304-345-8909
                  E-mail: sthomas@kaycasto.com

Estimated Assets: $10 million to $50 million

Estimated Debts: $10 million to $50 million

The petition was signed by William A. Abruzzino, managing member.

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


TARTAN CONTROLS: Seeks U.S. Recognition of Canadian Proceeding
--------------------------------------------------------------
Tartan Controls Corp. filed a voluntary petition under Chapter 15
of the Bankruptcy Code in the U.S. Bankruptcy Court for the
District of Wyoming on Jan. 23, 2017 (Bankr. D. Wyo. Case No.
17-20037).  The case is assigned to Judge Cathleen D. Parker.

PricewaterhouseCoopers Inc., as the court-appointed receiver and
authorized foreign representative of Tartan Corp., commenced the
Chapter 15 case in order to seek recognition in the United States
of a proceeding pending in the Court of Queen's Bench of Alberta,
Canada under the Bankruptcy and Insolvency Act.

The Receiver asserts that without such recognition, Tartan Corp.
will be exposed to the risk of litigation and other actions against
the estate and its assets in the United States, which would result
in a "race to the courthouse" among creditors and other
parties-in-interest, and thus threaten Tartan Corp.'s
reorganization efforts.

"By filing the Petition, the Receiver wishes to obtain relief in
substantially the same form provided in the Canadian Proceeding,
and to allow for the proper and necessary communication and
coordination between the Canadian Proceeding and this case to
ensure the orderly, fair, and efficient restructuring or
liquidation of Tartan Corp," said Chad S. Caby, Esq., at Lewis Roca
Rothgerber Christie LLP, one of the Receiver's attorneys.

In July, 2016, The Toronto-Dominion Bank demanded repayment of debt
from various Tartan entities, including Tartan Corp. (as guarantor
of the indebtedness and liabilities of Tartan Inc.) and notified
its intention to enforce security pursuant to Section 244 of the
Bankruptcy and Insolvency Act (Canada).

On Sept. 16, 2016, the Bank, as plaintiff, filed an application
seeking the appointment of a receiver in the Court of Queen's Bench
of Alberta, Judicial Centre of Edmonton, in order to protect the
Bank's collateral in Canada and the United States.  Tartan Corp. is
named as a defendant in the Application.  

Pursuant to the Receivership Order entered in the Canadian Court on
Sept. 28, 2016, a stay is in place in Canada which prohibits any
proceeding or enforcement process against Tartan Corp. or its
assets.

Additionally, on Dec. 19, 2016 the Receiver took the legal step of
having Tartan Inc. make a voluntary assignment into bankruptcy
pursuant to the BIA.  In the Canadian Bankruptcy, the Receiver was
appointed as trustee on that date.  

The Canadian creditors' claims total approximately $1,024,000,
whereas the U.S. creditors' claims total approximately $194,000, as
disclosed in Bankruptcy Court documents.

The Receiver said it intends to liquidate all assets of Tartan
Corp. for the benefit of its creditors.

Tartan Controls Inc., along with affiliates, provided engineering,
manufacturing, and services related to down-hole drilling tools in
the western Canadian oil and gas market.  Tartan Controls Corp., a
Wyoming registered corporation and a wholly owned subsidiary of
Tartan Inc., was created to extend its service and infrastructure
into the United States, including North Dakota, Wyoming, and
Colorado.


TOPS HOLDING: Moody's Lowers Corporate Family Rating to Caa1
------------------------------------------------------------
Moody's Investors Service downgraded the Corporate Family Rating of
Tops Holding II ("HoldCo") Corporation to Caa1 from B3 and the
company's Probability of Default rating to Caa1-PD from B3-PD.
Additionally, Moody's downgraded the rating of Tops Holding LLC's
senior secured notes due 2022 to Caa1 from B3 and Holdco's senior
unsecured notes due 2018 to Caa3 from Caa2. The outlook is stable.

The downgrade is due to the company's unsustainable capital
structure, its weak credit metrics and Moody's expectation that
lease adjusted debt/EBITDA and EBIT/interest will remain above 7.0
times and below 1.0 time respectively for the next 12-18 months
given the challenging and competitive business environment.

"Although the company's liquidity is currently adequate, unless its
operating performance and cash flow improves it will not have
enough liquidity to repay the HoldCo notes that mature in June
2018", Moody's Senior Analyst Mickey Chadha said. "Tops' credit
metrics have deteriorated with debt to EBITDA increasing to 7.2
times at the end of the third quarter of fiscal 2016 from 6.6 times
at the end of fiscal 2014 with EBIT/interest currently at less than
1.0 times. The company's ability to improve EBITDA and metrics will
remain highly constrained in the current challenging business
environment for food retailers", Chadha added.

RATINGS RATIONALE

The following ratings are downgraded:

Tops Holding II Corporation

Corporate Family Rating at Caa1 from B3

Probability of Default Rating at Caa1-PD from B3-PD

Senior unsecured notes due 2018 at Caa3 ( LGD6) from Caa2 (LGD6)

Tops Holding LLC

Senior secured notes due 2022 at Caa1 (LGD3) from B3 (LGD3)

Outlook action:

Tops Holding II Corporation

Outlook Changed To Stable From Negative

Tops Holding LLC

Outlook Changed To No Outlook From Negative

The Caa1 Corporate Family Rating reflects the company's weak credit
metrics, its modest size relative to competitors, and regional
concentration. The rating is supported by its good market presence
in the regions in which it operates and its adequate liquidity.
However, dealing with the looming maturity of the HoldCo notes in
June 2018 will be a challenge for the company in the absence of any
improvement in operating performance and cash flow.

The rating outlook is stable and reflects Moody's expectation that
metrics and operating performance will not deteriorate further and
will remain consistent with its Caa1 rating category.

Given Tops' high financial leverage, a rating upgrade is not
expected in the near-to-intermediate term. Over time a rating
upgrade would require positive same store sales, a material
improvement in credit metrics and a sustainable capital structure
with manageable debt maturities. Ratings could rise if Tops
demonstrates sustained EBIT to interest above 1.25 times and
sustained debt/EBITDA below 6.5 times while maintaining adequate
liquidity.

Ratings could be downgraded if credit metrics continue to
deteriorate, the company does not demonstrate sequential
improvement in operating performance or the HoldCo notes are not
refinanced well in advance of their maturity or liquidity
deteriorates.

The principal methodology used in these ratings was "Retail
Industry" published in October 2015.

Tops is the parent of Tops Holding LLC and the indirect parent of
Tops Markets, LLC, which is headquartered in Williamsville, NY. As
of October 8, 2016, the Company operated 172 supermarkets; 171
under the Tops banner and one under the Orchard Fresh banner, with
an additional five supermarkets operated by franchisees under the
Tops banner. Revenues totaled about $2.5 billion for the LTM period
ended October 8, 2016.


TRIANGLE USA: Gibson Dunn, Young Conaway Represent Franklin, Canyon
-------------------------------------------------------------------
Gibson, Dunn & Crutcher LLP and Young Conaway Stargatt & Taylor,
LLP, filed with the U.S. Bankruptcy Court for the District of
Delaware on Jan. 24, 2017, a supplemental verified statement
pursuant to Rule 2019 of the Federal Rules of Bankruptcy Procedure,
disclosing that (i) they now represent Franklin Advisers, Inc., as
investment manager on behalf of certain funds and accounts, and
Canyon Capital Advisors LLC, on behalf of its participating funds
and accounts, in these Chapter 11 Cases and (ii) they no longer
represent Southeastern Asset Management, Inc., in the Chapter 11
cases of Triangle USA Petroleum Corporation and its Affiliated
Debtors.

On July 25, 2016, the Firms filed a verified statement disclosing
their representation of Chambers Energy Capital, Eaton Vance
Management, Franklin Advisers, Inc., J.P. Morgan Securities LLC
(with respect to only its Credit Trading group), Prudential
Financial, Inc., Shenkman Capital Management, Inc. (on behalf of
certain advisory accounts in its capacity as Investment Manager),
and Southeastern Asset Management, Inc., in these Chapter 11
cases.

On Sept. 13, 2016, the Firms filed the first supplemental verified
statement, disclosing that it no longer represents Franklin
Advisers, Inc., in these Chapter 11 cases.

On Sept. 27, 2016, the Firms filed the second supplemental verified
statement, disclosing that it no longer represents Prudential
Financial, Inc., in these Chapter 11 cases.

On Nov. 15, 2016, the Firms filed the third supplemental verified
statement, wherein the Firms updated the list of the names and
addresses of, and the nature and amount of all disclosable economic
interests held by, certain holders of notes in relation to the
Debtors as of Jan. 24, 2017, and disclosed its retention by
Wilmington Trust, National
Association, in its capacity as indenture trustee under that
certain indenture, dated as of July 18, 2014, in respect of the
Debtors' 6.75% Senior Notes due 2022, to serve as its special
co-counsel.

On Dec. 23, 2016, the Firms filed the fourth supplemental verified
statement, updating the list of the names and addresses of, and the
nature and amount of all disclosable economic interests held by,
the Ad Hoc Noteholders in relation to the Debtors as of Dec. 22,
2016.

The updated list of the names and addresses of, and the nature and
amount of all disclosable economic interests held by, the Ad Hoc
Noteholders represented by the Firms in relation to the Debtors as
of Jan. 24, 2017, includes:

     a. Canyon Capital Advisors LLC, on behalf of its
        participating funds and accounts
        2000 Avenue of the Stars, 11th Floor
        Los Angeles, CA 90067

        Principal Amount 6.75% Senior Notes Due 2022: $86,652,000


     b. CEC II TI Pool, LP
        600 Travis Street, Suite 4700
        Houston, TX 77702

        Principal Amount 6.75% Senior Notes Due 2022: $61,500,000

     c. Eaton Vance Management
        Two International Place
        Boston, MA 02110

        Principal Amount 6.75% Senior Notes Due 2022: $11,000,000

     d. Franklin Advisers, Inc., as investment manager on behalf
        of certain funds and accounts
        1 Franklin Parkway
        San Mateo, CA 94403

        Principal Amount 6.75% Senior Notes Due 2022: $25,075,000

     e. J.P. Morgan Securities LLC, with respect to only its
        Credit Trading group
        383 Madison Avenue, Level 3
        New York, NY 10179

        Principal Amount 6.75% Senior Notes Due 2022: $82,893,000

     f. Shenkman Capital Management, Inc., on behalf of certain
        advisory accounts in its capacity as Investment Manager
        461 Fifth Avenue, 22nd Floor
        New York, NY 10017

        Principal Amount 6.75% Senior Notes Due 2022: $75,975,000

The Firms can be reached at:

     Sean M. Beach, Esq.
     Andrew L. Magaziner, Esq.
     YOUNG CONAWAY STARGATT & TAYLOR, LLP
     Rodney Square
     1000 North King Street
     Wilmington, Delaware 19801
     Tel: (302) 571-6600
     Fax: (302) 571-1253
     E-mail: sbeach@ycst.com
             amagaziner@ycst.com

          -- and --

     Matthew J. Williams, Esq.
     Keith R. Martorana, Esq.
     GIBSON, DUNN & CRUTCHER LLP
     200 Park Avenue
     New York, New York 10166-0193
     Tel: (212) 351-4000
     Fax: (212) 351-4035
     E-mail: mjwilliams@gibsondunn.com
             kmartorana@gibsondunn.com

              About Triangle USA Petroleum Corporation

Triangle USA Petroleum Corporation is an independent exploration
and production company with a strategic focus on developing the
Bakken Shale and Three Forks formations in the Williston Basin of
North Dakota and Montana.  TUSA is a wholly owned subsidiary of
Triangle Petroleum Corporation (NYSE MKT: TPLM).  Neither TPLM nor
its affiliated company, RockPile Energy Services, LLC, is included
in TUSA's Chapter 11 filing.

Triangle USA Petroleum Corporation and its affiliates filed
voluntary petitions under Chapter 11 of the Bankruptcy Code
(Bankr. D. Del. Lead Case No. 16-11566) on June 29, 2016.  The
cases are pending before Judge Mary F. Walrath.

At the time of the filing, TUSA estimated assets in the range of
$500 million to $1 billion and liabilities of up to $1 billion.

The Debtors have engaged Sarah E. Pierce, Esq., at Skadden, Arps,
Slate, Meagher & Flom LLP as counsel, AP Services, LLC, as
financial advisor, PJT Partners Inc. as investment banker and
Prime Clerk LLC as claims & noticing agent.

Andrew R. Vara, Acting U.S. Trustee, has informed the U.S.
Bankruptcy Court for the District of Delaware that a committee of
unsecured creditors has not been appointed in the Chapter 11 case
of Triangle USA Petroleum Corporation due to insufficient response
to the U.S. Trustee communication/contact for service on the
committee.


TRINITY TEMPLE: Disclosures Okayed, Plan Hearing on Feb. 21
-----------------------------------------------------------
The Trinity Temple Church of God in Christ is now a step closer to
emerging from Chapter 11 protection after a bankruptcy judge
approved the outline of its plan of reorganization.

Judge Ann Nevins of the U.S. Bankruptcy Court in Connecticut on
Jan. 19 gave the thumbs-up to the disclosure statement after
finding that it contains "adequate information."

The order set a Feb. 14 deadline for creditors to cast their votes
and a Feb. 7 deadline to file their objections.

A court hearing to consider confirmation of the plan is scheduled
for Feb. 21, at 10:00 a.m.  The hearing will take place at the U.S.
Bankruptcy Court, Connecticut Financial Center, 18th Floor, 157
Church Street, New Haven, Connecticut.

The restructuring plan proposes to pay general unsecured creditors
in full in equal monthly installments over 36 months from the
effective date of the plan.

The church intends to use operating income (donations, etc.),
contributions from the support fund, grants, and rental income to
fund the plan.  The church is also seeking to refinance its
property and will use the proceeds to fund the Plan.  Additionally,
if BNY accepts the resolution, the church will use $10,000 of the
proceeds to finance the plan.

         About Trinity Temple Church of God in Christ

The Trinity Temple Church of God in Christ, Inc. is a historically
African American church located in New Haven, Connecticut.  The
church has been in existence for more than 75 years and is an
important local religious institution, providing a house of worship
to over 250 members.  

The church is a member of Church of God in Christ, a Pentecostal
Christian denomination with more than six million members.  The
principal pastor at the church is Reverend Charles H. Brewer, III.
Reverend Brewer is also aided by his father, Bishop Charles H.
Brewer, Jr. Bishop Brewer's father was the founding pastor of the
church.  In addition to its core religious functions, the church
provides charitable services like a food pantry, assistance with
rent and grocery stabilization, and aid with medical costs of
indigent community members.

The church filed a Chapter 11 petition (Bankr. D. Conn. Case No.
16-30714) on May 5, 2016.  The petition was signed by Charles H.
Brewer, III, president.  

The church is represented by Jeffrey M. Sklarz, Esq., at Green &
Sklarz LLC.  The case is assigned to Judge Julie A. Manning.

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


TUSCANY PARTNERS: Seeks to Hire Ellsworth & Stout as Accountant
---------------------------------------------------------------
Tuscany Partners 2 LLC seeks approval from the U.S. Bankruptcy
Court for the District of Nevada to hire an accountant.

The Debtor proposes to hire Ellsworth & Stout CPAs to complete its
2016 tax returns, and pay the firm a flat fee of $1,350.

Dain Ellsworth, an accountant employed with Ellsworth & Stout,
disclosed in a court filing that the firm does not hold any
interest in the Debtor and does not have connections with any
"party-in-interest."

The firm can be reached through:

     Dain Ellsworth
     Ellsworth & Stout CPAs
     7881 W. Charleston Blvd. 155
     Las Vegas, NV 89117
     Phone: (702) 871-2727
     Email: info@lvcpas.com

                    About Tuscany Partners 2

Tuscany Partners 2, LLC sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Nev. Case No. 16-15781) on October 27,
2016.  The petition was signed by William Dyer, manager.  

The case is assigned to Judge Mike K. Nakagawa.  The Law Office of
Timothy Thomas serves as the Debtor's legal counsel.

At the time of the filing, the Debtor disclosed $1.10 million in
assets and $314,784 in liabilities.


UNITED CONTINENTAL: Moody's Hikes CFR to Ba2; Stable Outlook
------------------------------------------------------------
Moody's Investors Service upgraded its ratings of United
Continental Holdings, Inc. and its subsidiaries, including the
Corporate Family Rating to Ba2 from Ba3, Senior Secured to Baa3
(LGD2) from Ba1 (LGD2), Senior Unsecured to Ba3 (LGD5) from B1
(LGD5) and most of the Enhanced Equipment Trust Certificate
("EETC") ratings. The Speculative Grade Liquidity rating of SGL-1
has also been affirmed. The rating outlook is stable.

RATINGS RATIONALE

"The upgrade to Ba2 reflects United's leading position in the
global passenger airline industry, credit metrics that have cushion
to absorb the effects of expected pressure on operating earnings
and cash flow in 2017 from higher costs for labor and fuel, and
it's very good liquidity," said Moody's Senior Credit Officer,
Jonathan Root. "Moody's also believes that United will maintain a
disciplined financial policy, refraining from repurchasing shares
in periods when free cash flow wanes and carefully evaluating its
capital deployment to limit increases in financial leverage,"
continued Root. Moody's projects negative free cash flow in 2017
because of the company's guide to about $4.4 billion of capital
expenditures in 2017, up about $1 billion over 2016, accompanied by
labor and fuel cost pressures. However, Moody's expects capital
expenditures to reduce in 2018 and the EBITDA margin will remain
above 20% in 2017, a level supportive of the Ba2 rating.

Moody's anticipates that the average cost of a barrel of Brent will
remain below $60 through 2018, which will limit excessive fuel cost
pressures; although the swoon in Brent prices in the first half of
2016 will result in an about 20% increase in the cost of fuel for
the industry, including United, in 2017. Accompanying this trend is
lower capacity growth by most of the US airlines across their
domestic and international networks. Moody's anticipates that
United will take the necessary actions to limit outsized pressure
on earnings and operating cash flow should revenues fall short of
its plans. These include a continuing focus on controlling non-fuel
unit costs to support operating cash flow.

The stable outlook anticipates that liquidity will remain robust
and credit metrics will be at levels supportive of the Ba2 rating,
albeit with less cushion compared to the prior 18 months. The
outlook also assumes that United and its peers will continue to
emphasize earning acceptable returns on invested capital, rather
than strategies focused on market share. This will dictate trimming
capacity when fares do not cover costs and raising fares as fuel
costs rise. Modestly slower planned capacity growth by Spirit
Airlines (unrated) in 2017 and higher fuel prices should help
reduce the downwards pressure on unit revenue growth (passenger
revenue per available seat mile (PRASM)) for the industry.

The SGL-1 rating reflects very good liquidity, supported by an
expectation of at least $4 billion of cash, the $1.35 billion
revolver which will remain undrawn and a large pool of unencumbered
assets that would likely allow the company to raise in excess of $4
billion of new debt, if needed. While Moody's anticipates negative
free cash flow in 2017 because of stepped up capital investment, it
anticipates that capital investment will decline beyond 2017 as the
new management team plans and executes its network and fleet
strategy.

Twenty-two EETC tranches were upgraded by one notch, in step with
the upgrade of the Corporate Family rating. Ratings on eleven
tranches were affirmed, including the Aa3 ratings assigned to the
Class AA tranches of the company's three most recent EETCs. The
other four tranches that were affirmed are from transactions that
are not cross-defaulted or cross-collateralized and are secured by
some of the older aircraft in the company's fleet. The rating
actions on the EETCs consider Moody's estimates of loans-to-value
(LTVs), Moody's opinions of the probability that United would
affirm a transaction under a reorganization scenario based on the
aircraft type and age, the relative coupon and the relative
attractiveness or demand for particular models and or vintages
under a reorganization scenario. The EETC rating actions also
consider that the weight of the corporate credit and of the
collateral attributes shifts over Moody's corporate rating scale;
generally, the higher the corporate rating, the less weight in the
collateral.

An upgrade could occur if United sustains stronger credit metrics
through periods of weaker industry operating earnings. For example,
Debt to EBITDA that approaches 3x and EBIT to Interest that
approaches 4x. Sustaining funded debt below $10 billion from the
current of about $11.7 billion would likely be needed to achieve
these metrics when Brent is above $50 per barrel. Balancing
reduction of funded debt against share repurchases and sustaining
at least $4 billion of cash and at least $1.75 billion of
committed, long-term revolving credit facilities will be an
important consideration in any potential upgrade. The ratings could
be downgraded if United is unable to maintain its EBITDA margin
above 15% or if unrestricted cash and short-term investments fall
below $3 billion or aggregate liquidity (cash and availability on
revolving credit facilities) is sustained below $4.5 billion.
Recurring negative annual free cash flow, Debt to EBITDA
approaching 4.5 times or EBIT to Interest that approaches 2.5 times
could also lead to a downgrade.

Changes in UAL's Corporate Family rating, in Moody's opinion of the
importance of particular aircraft models to its network, or in
Moody's estimates of aircraft market values which will affect
estimates of loan-to-value can result in changes to EETC ratings.

The methodologies used in these ratings were Global Passenger
Airlines published in May 2012, and Enhanced Equipment Trust and
Equipment Trust Certificates published in December 2015.

United Continental Holdings, Inc. is the holding company for United
Airlines, Inc. ("United"). United and United Express operate an
average of 4,500 flights a day to 339 airports across five
continents. The company reported $36.5 billion of revenue for
2016.

Upgrades:

Issuer: CLEVELAND (CITY OF) OH

-- Backed Senior Unsecured Revenue Bonds, Upgraded to Ba3 (LGD5)
from B1 (LGD5)

Issuer: Denver (City & County of) CO

-- Backed Senior Unsecured Revenue Bonds, Upgraded to Ba3 (LGD5)
from B1 (LGD5)

Issuer: Harris County Industrial Dev Corp, TX

-- Backed Senior Unsecured Revenue Bonds, Upgraded to Ba3 (LGD5)
from B1 (LGD5)

Issuer: Hawaii Department of Transportation

-- Backed Senior Unsecured Revenue Bonds, Upgraded to Ba3 (LGD5)
from B1 (LGD5)

Issuer: Houston (City of) TX

-- Backed Senior Unsecured Revenue Bonds, Upgraded to Ba3 (LGD5)
from B1 (LGD5)

Issuer: New Jersey Economic Development Authority

-- Backed Senior Unsecured Revenue Bonds, Upgraded to Ba3 (LGD5)
from B1 (LGD5)

Issuer: United Airlines, Inc.

-- Backed Senior Secured Bank Credit Facility, Upgraded to Baa3
(LGD2) from Ba1 (LGD2)

-- Senior Secured Enhanced Equipment Trust Apr 11, 2024, Upgraded
to A2 from A3

-- Senior Secured Enhanced Equipment Trust Apr 29, 2026, Upgraded
to A2 from A3

-- Senior Secured Enhanced Equipment Trust Jan 7, 2030, Upgraded
to A1 from A2

-- Senior Secured Enhanced Equipment Trust Jul 12, 2022, Upgraded
to A2 from A3

-- Senior Secured Enhanced Equipment Trust Oct 7, 2028, Upgraded
to A1 from A2

-- Senior Secured Enhanced Equipment Trust Sep 15, 2017, Upgraded
to A3 from Baa1

-- Senior Secured Enhanced Equipment Trust Jan 2, 2018, Upgraded
to A3 from Baa1

-- Senior Secured Enhanced Equipment Trust Jun 15, 2021, Upgraded
to A3 from Baa1

-- Senior Secured Enhanced Equipment Trust Apr 29, 2018, Upgraded
to Ba1 from Ba2

-- Senior Secured Enhanced Equipment Trust Oct 2, 2019, Upgraded
to Ba1 from Ba2

-- Senior Secured Enhanced Equipment Trust Apr 1, 2021, Upgraded
to Ba1 from Ba2

-- Senior Secured Enhanced Equipment Trust May 1, 2022, Upgraded
to Baa2 from Baa3

-- Senior Secured Enhanced Equipment Trust Sep 15, 2018, Upgraded
to Baa2 from Baa3

-- Senior Secured Enhanced Equipment Trust Apr 11, 2020, Upgraded
to Baa2 from Baa3

-- Senior Secured Enhanced Equipment Trust Jul 12, 2020, Upgraded
to Baa2 from Baa3

-- Senior Secured Enhanced Equipment Trust Oct 29, 2020, Upgraded
to Baa2 from Baa3

-- Senior Secured Enhanced Equipment Trust May 10, 2017, Upgraded
to Baa2 from Baa3

-- Senior Secured Enhanced Equipment Trust Oct 2, 2022, Upgraded
to Baa1 from Baa2

-- Senior Secured Equipment Trust Jul 2, 2018, Upgraded to Ba1
from Ba2

-- Senior Secured Equipment Trust Apr 19, 2022, Upgraded to Ba1
from Ba2

-- Senior Secured Equipment Trust Sep 1, 2019, Upgraded to Ba1
from Ba2

-- Senior Secured Pass-Through Jun 1, 2029, Upgraded to A1 from
A2

Issuer: United Continental Holdings, Inc.

--  Probability of Default Rating, Upgraded to Ba2-PD from Ba3-PD

--  Corporate Family Rating, Upgraded to Ba2 from Ba3

--  Backed Senior Unsecured Regular Bond/Debentures, Upgraded to
Ba3 (LGD5) from B1 (LGD5)

Assignments:

Issuer: United Continental Holdings, Inc.

-- Backed Senior Unsecured Regular Bond/Debenture, Assigned Ba3
(LGD5)

Outlook Actions:

Issuer: United Airlines, Inc.

-- Outlook, Changed To Stable From Positive

Issuer: United Continental Holdings, Inc.

-- Outlook, Changed To Stable From Positive

Affirmations:

Issuer: United Air Lines, Inc.

-- Backed Senior Secured Pass-Through Jul 2, 2022, Affirmed Ba1

-- Backed Senior Secured Pass-Through Jul 2, 2019, Affirmed Ba3

Issuer: United Airlines, Inc.

-- Senior Secured Enhanced Equipment Trust Nov 10, 2019, Affirmed
A3

-- Senior Secured Enhanced Equipment Trust Jan 7, 2030, Affirmed
Aa3

-- Senior Secured Enhanced Equipment Trust Oct 7, 2028, Affirmed
Aa3

-- Senior Secured Enhanced Equipment Trust May 1, 2022, Affirmed
Baa1

-- Senior Secured Enhanced Equipment Trust Aug 2, 2020, Affirmed
Baa2

-- Senior Secured Enhanced Equipment Trust Sep 15, 2021, Affirmed
Baa1

-- Senior Secured Enhanced Equipment Trust May 1, 2018, Affirmed
Baa1

-- Senior Secured Equipment Trust Apr 19, 2022, Affirmed A3

-- Senior Secured Pass-Through Jun 1, 2029, Affirmed Aa3

Issuer: United Continental Holdings, Inc.

--  Speculative Grade Liquidity Rating, Affirmed SGL-1


VICTORY CAPITAL: Moody's Affirms B2 CFR, Outlook Positive
---------------------------------------------------------
Moody's Investors Service affirmed Victory Capital Holdings, Inc.'s
B2 corporate family rating, B2 probability of default rating B2-PD,
B2 senior secured first lien term loan rating and B2 revolving
credit facility rating. The rating outlook is positive.

Victory's term loan will be increased by $100 million to $538.6
million, while the $25 million revolver will be unchanged and is
expected to be undrawn at closing. Net proceeds from the
incremental term loan will be used to fund the dividend to
shareholders.

"The dividend recapitalization is credit negative because it
increases leverage, nevertheless, Moody's affirmed the ratings
because Victory's improving business fundamentals and projected
free cash flow provide capacity to reduce leverage," said Moody's
analyst Rokhaya Cissé.

RATINGS RATIONALE

Victory's B2 corporate family rating reflects its small scale,
focus on active equity management, and elevated financial leverage.
With approximately $55 billion in assets under management at
year-end 2016, the company has grown primarily through debt-funded
acquisitions and remains small relative to Moody's rated universe
of asset managers. The firm's expertise in domestic small- to
mid-cap equities, an area currently facing secular headwinds,
concentrates its AUM mix.

However, sales growth in 2016 from the additional retail channels
provided by its acquisition of RS Investment Management Co. LLC
(unrated, RS) as well as the significant cost savings synergies
realized to date are expected to generate the cash flows needed to
manage leverage down. Following the loan upsizing, pro-forma
leverage, (as calculated by Moody's) will rise to about 4.9 times
debt to EBITDA before falling to a level consistent with Victory's
rating category by year-end. Given the company's history of
dividend recapitalizations, Moody's view of leverage levels
incorporates the risk of similar transactions in the future.

Moody's said that the following factors could lead to an upgrade:
1) leverage (debt/EBITDA) sustained below 4x; 2) sustained
improvement in net client inflows exceeding 3% annually; 3)
accelerated business development with new clients; successful
launches of unique, prudent, alpha-generative investment products;
4) achieving a lower cost structure that materially increases
pre-tax income margins; and.

Alternatively, the outlook could move back to stable if there are:
1) additional dividend recapitalizations or other factors resulting
in sustained higher leverage 2) net client redemptions exceeding
15% of firm AUM annually; and 3) departure of key staff.

The following ratings were affirmed:

Corporate Family Rating - B2

Probability of default rating - B2-PD

Revolving Credit Facility - B2

Senior Secured Term Loan - B2

The principal methodology used in these ratings was "Asset
Managers: Traditional and Alternative" published in December 2015.

Victory is a multi-boutique asset manager headquartered in
Cleveland, Ohio. At year-end 2016, the company had assets under
management of $55 billion and total revenues of approximately $300
million.


VIRGIN ISLANDS PFA: Moody's Lowers Sr. Lien Bonds Rating to Caa1
----------------------------------------------------------------
Moody's Investors Service has downgraded the ratings on the US
Virgin Islands' four liens of Matching Fund Revenue Bonds, issued
through the Virgin Islands Public Finance Authority, as follows:
Senior Lien Bonds to Caa1 from B1; Subordinate Lien Bonds to Caa1
from B1; Subordinated Indenture (Diageo) Bonds to Caa2 from B2; and
Subordinated Indenture (Cruzan) Bonds to Caa2 from B2. The bonds
are secured by matching fund revenues which are remittances paid by
the federal government to the Virgin Islands' government of a
portion of federal excise taxes collected on rum produced in the
territory and shipped to the US mainland. The rating action affects
approximately $1.16 billion in outstanding debt.

The downgrades are triggered by the territory's extremely weak
financial position and liquidity, its apparent failure to access
the capital markets for a planned deficit financing which would
have balanced the current year budget and bolstered liquidity
levels, and an increased possibility that the government may be
forced to restructure its debt to address its financial problems.
Key characteristics of the government's general credit profile
include: persistent general fund deficits addressed primarily with
repeated deficit financings; very high debt levels; declining gross
domestic product and population; and a high unemployment. The
Virgin Islands' government has an extremely large unfunded pension
liability and the retirement system is projected to become
insolvent by fiscal 2023.

The ratings recognize a number of structural features that provide
bondholder protections and stronger credit quality than unsecured
general obligation bonds, most notably the direct payment of
pledged revenues by the US Treasury to the special escrow
agent/trustee. The government recently acted to strengthen the
direct payment mechanism by making the instruction to the federal
government permanent and irrevocable. The government has pledged
and assigned matching fund revenues to the trustee for the benefit
of bondholders, establishing a security interest in the revenues.
The statutes are written to create a statutory lien on the
revenues. Moody's note, however, that these security provisions
have not been tested in a stress scenario where the government
faces a severe lack of funds to provide basic services and Moody's
believe they do not protect bondholders in the event that the
government is forced to restructure its debt.

Rating Outlook

The outlook on the ratings is negative, reflecting the severe
fiscal challenges facing the government, the possibility that its
liquidity and general credit profile could continue to deteriorate,
and the increased possibility that the government may be forced to
restructure its debt to address its financial problems.

Factors that Could Lead to an Upgrade

Restoration and maintenance of structural budget balance by the
primary government.

Factors that Could Lead to a Downgrade

Further erosion of the government's financial position and
liquidity.

Decline in matching fund revenues and debt service coverage due to
further reduction in rum shipments by the two distilleries.

Legal Security

Bond security is established by the trust indenture, the loan
agreement, the special escrow agreement, and Virgin Islands
statutes. The government has pledged and assigned matching fund
revenues to the trustee for the benefit of bondholders,
establishing a security interest in the revenues. The statutes are
written to create a statutory lien on the revenues. In the loan
agreement the government covenants to direct the US Treasury to pay
the pledged matching fund revenues directly to the trustee. This
structure provides apparent bondholder protections and stronger
credit quality than unsecured general obligation bonds, but it has
not been tested in a severe stress scenario.

Use of Proceeds

Not applicable.

Obligor Profile

With the closure of the Hovensa oil refinery in 2012, the
territory's economy is primarily concentrated in tourism. While
there have been some positive trends in visitor counts since the
recession, GDP continues to decline, dropping at a compounded
annual rate of 2.7% from 2009 to 2014. Population fell from 115,852
in 2008 to 103,450 in 2015, while employment fell from 49,677 to
43,024 over the same period. Unemployment at 11.9% in 2015 was more
than twice the US levels. Per capita personal income in 2014 was
47.6% of the US level.

Government finances have been severely strained. Revenues fell
abruptly in fiscal 2008 and 2009 as a result of the recession and
operating losses at the Hovensa refinery. The government addressed
the resulting deficits primarily with deficit financings. Revenues
have recovered somewhat in recent years. The Hovensa refinery was
recently sold generating a $220 million one-time payment which
benefited government finances and liquidity in fiscal 2016.
Nevertheless, the general fund still has a structural deficit.

Methodology

The principal methodology used in this rating was US Public Finance
Special Tax Methodology published in January 2014. An additional
methodology used in this rating was US States Rating Methodology
published in April 2013.


VKI VENTURES: Seeks May 1 Extension of Plan Filing Deadline
-----------------------------------------------------------
VKI Ventures, LLC and VKI Holdings, LLC, ask the U.S. Bankruptcy
Court for the Southern District of Florida to further extend for an
additional 90 days the exclusive period to file a plan of
reorganization, through and including May 1, 2017, as well as the
exclusive period to solicit acceptances of a plan, through and
including June 30, 2017.

The Debtors tell the Court that this is their second request for an
extension of their exclusivity periods. The Debtors further tell
the Court that they require additional time to file a plan as they
are currently in negotiations with the secured creditor, which will
have a material effect on the creditors' plan treatment.

                        About VKI Ventures LLC

VKI Ventures, LLC filed a Chapter 11 petition (Bankr. S.D. Fla.
Case No. 16-14898), on April 5, 2016.  The petition was signed by
Sriram Srinivasan, managing member.  The Debtor is represented by
Aaron A Wernick, Esq., at Furr & Cohen. The case is assigned to
Judge Paul G. Hyman, Jr.  The Debtor disclosed total assets at
$484,757 and total liabilities at $1.32 million.  The Debtor listed
Deutsche Bank National Trust Company as its largest unsecured
creditor holding a claim of $417,364.


[*] Bankruptcy Filings Fall 5.9%, Reach Lowest Level Since 2006
---------------------------------------------------------------
During the 12-month period ended Dec. 31, 2016, 794,960 cases were
filed in federal bankruptcy courts, down from the 844,495
bankruptcy cases filed in calendar year 2015 -- a 5.9% drop in
filings -- according to a statement by the U.S. Courts.

This is the lowest number of bankruptcy filings for any calendar
year since 2006, and the sixth consecutive calendar year that
filings have fallen.  However, it was the first calendar year since
2011 that the rate of annual decline was less than 10%.

         Total Bankruptcy Filings by Chapter
                     Years Ending
                December 31, 2012-2016

                        Chapter
           ----------------------------------
    Year         7       11      12        13
    ----   -------  -------  ------  --------
    2016   490,365    7,292     461   296,655
    2015   535,047    7,241     407   301,705
    2014   619,069    7,234     361   310,061
    2013   728,833    8,980     395   333,626
    2012   843,545   10,361     512   366,532



[*] Carl Marks Advisors Promotes Three Professionals
----------------------------------------------------
Carl Marks Advisors, a corporate restructuring and investment
banking firm to middle market companies, on Jan. 25, 2017,
announced the following promotions, effective immediately:

   -- Jonathan Killion – Managing Director
   -- Ben Godbout – Director
   -- Parker Condie - Associate

The promotions follow a very active year for Carl Marks Advisors,
which in 2016 saw strong demand for its investment banking and
restructuring advisory expertise, given the surge of restructurings
in the oil & gas, renewable energy, grocery industries, among other
sectors.  With 2017 expected to mirror 2016 trends, the firm took
steps early on to further build out support across teams with the
hire of Chuck Kwong, who joined as Vice President of Strategic
Research in mid-2016 to focus on the early identification of
potential restructurings and work with the team to connect with key
stakeholders.

Notable achievements in 2016 for Carl Marks Advisors include the
following engagements:

   -- Restructuring advisor to one of the top 10 cooperative food
distributors in the U.S. during their sale to a large grocery
retailer

   -- Advisory roles to distressed renewable energy companies --
more specifically acting as advisor to Abengoa on the sale of its
U.S. assets and the bankruptcy process

   -- Acting as chief restructuring advisor to Cal Dive through
operation and sale

"We are eager to build upon a successful 2016 and capitalize on
market opportunities we're seeing in 2017 to deploy our experienced
teams and industry know-how across key industries," said
Duff Meyercord, partner at Carl Marks Advisors.  "Jonathan, Ben and
Parker are fine examples of professionals we attract to our firm,
and professional growth opportunities our firm provides. We
congratulate them on their to-date achievements."

                     About the professionals:

Jonathan Killion has 12+ years of financial service experience.
Mr. Killion's experience includes working closely with company
owners, management teams, board of directors, private equity
groups, lenders, and investors on profit improvement, turnarounds,
workouts, loan restructurings, due diligence, strategic planning,
and mergers and acquisitions.  His expertise spans a full range of
financial advisory and operational improvement in restructurings
and other special situations, both in court and outside of
bankruptcy.

Prior to joining Carl Marks Advisors, Mr. Killion was a
professional at Deloitte serving a multinational healthcare
organization.  He earned a BS in Business Administration from
Georgetown University, is a CFA(R) charter holder, and a member of
the Turnaround Management Association.

Benjiman Godbout has over 11 years of financial service experience,
including significant expertise in financial restructuring and
investment banking.  Mr. Godbout works closely with company owners,
management teams, board of directors, private equity groups,
lenders, and investors on engagements spanning bankruptcies,
workouts, loan restructurings, due diligence, strategic planning,
and mergers and acquisitions.  He is also currently serving as a
Board Member for a design-engineering firm in South Florida.

Prior to joining Carl Marks Advisors, Mr. Godbout served as Vice
President at a boutique Private Equity Fund, as well as Sr.
Associate at Deloitte Financial Advisory Services.  He holds a BA
from the University of Western Ontario, and an MBA from the Johnson
School at Cornell University.  He is registered with FINRA as a
Limited Representative – Investment Banking.

Parker Condie joined Carl Marks Advisors' investment banking team
in 2015 and focuses primarily on providing research and execution
services for various investment banking and financial advisory
assignments, including mergers & acquisitions, debt and equity
capital raises, and financial restructurings for companies, secured
and unsecured lenders, and creditors across the capital structure.
Mr. Parker has advised on numerous financial restructurings
(including Sec. 363 sales and internal reorganizations), capital
raises, and mergers & acquisitions assignments across a range of
industries.  He holds a BA from Boston College and is registered
with FINRA as a Limited Representative – Investment Banking.

Chuck Kwong has over 23 years in finance and research with advanced
skills in identifying potential opportunities through financial
metrics screening, analyzing capital structures, and monitoring
company developments.  Mr. Kwong  actively maintains distressed
radar watch lists for potential restructurings in order to target
advisory opportunities and has in-depth knowledge of bankruptcy
process, including DIP and exit financing.  He was most recently
Vice President at GE Capital, Restructuring & Corporate Retail
Finance, one of the largest providers of financing to mid-size and
large US businesses.  He holds a BA in Economics from Carnegie
Mellon University.

                     About Carl Marks Advisors

Carl Marks Advisory Group LLC (Carl Marks Advisors) --
http://www.carlmarksadvisors.com-- is a New York-based corporate
restructuring and investment banking firm serving middle-market
companies.  It provides an array of investment banking and
operational services, including mergers and acquisitions advice,
sourcing of capital, financial restructuring plans, strategic
business assessments, improvement plans and interim management.

The award-winning firm received the 2016 Turnaround Atlas Awards'
Middle Market Restructuring Investment Banker of the Year, Middle
Market Out-of-Court Restructuring of the Year and Middle Market
Cross Border M&A Deal of the Year; Global M&A Network 2016 & 2014
annual listing of the Top 100 Restructuring and Turnaround
Professionals; 2015 ACG New York Champion's Award for Deal of the
Year in Manufacturing; was included in Turnarounds & Workouts 2015
Outstanding Turnaround Firms and 2014 Outstanding Investment
Banking Firms.


[^] Recent Small-Dollar & Individual Chapter 11 Filings
-------------------------------------------------------
In re Creasy Geothermal & Well Drilling, Inc.
   Bankr. M.D. Ga. Case No. 17-70043
      Chapter 11 Petition filed January 15, 2017
         See http://bankrupt.com/misc/gamb17-70043.pdf
         represented by: Kenneth W. Revell, Esq.
                         ZALKIN REVELL, PLLC
                         E-mail: krevell@zalkinrevell.com

In re Pari Farhang Kermani
   Bankr. C.D. Cal. Case No. 17-10077
      Chapter 11 Petition filed January 16, 2017
         represented by: Dana M. Douglas, Esq.
                         E-mail: dmddouglas@hotmail.com

In re Wayne John Rizzi
   Bankr. C.D. Cal. Case No. 17-10334
      Chapter 11 Petition filed January 16, 2017
         represented by: Todd L. Turoci, Esq.
                         THE TUROCI FIRM
                         E-mail: mail@theturocifirm.com

In re Liberal Commons, LLC
   Bankr. D. Kan. Case No. 17-10044
      Chapter 11 Petition filed January 16, 2017
         See http://bankrupt.com/misc/ksb17-10044.pdf
         represented by: David P. Eron, Esq.
                         ERON LAW, P.A.
                         E-mail: david@eronlaw.net

In re 7231 Chickadee Ln NE Trust
   Bankr. D.N.M. Case No. 17-10077
      Chapter 11 Petition filed January 16, 2017
         See http://bankrupt.com/misc/nmb17-10077.pdf
         represented by: Patrick Lopez, Esq.
                         E-mail: patrick.lopez.esq@gmail.com

In re Hartford Court Development, Inc.
   Bankr. N.D. Ill. Case No. 17-01356
      Chapter 11 Petition filed January 17, 2017
         See http://bankrupt.com/misc/ilnb17-01356.pdf
         represented by: David P. Lloyd, Esq.
                         DAVID P. LLOYD, LTD.
                         E-mail: courtdocs@davidlloydlaw.com

In re Mario A. Bravo Corp
   Bankr. D. Mass. Case No. 17-10144
      Chapter 11 Petition filed January 17, 2017
         See http://bankrupt.com/misc/mab17-10144.pdf
         represented by: Stephen P. Lovely, Esq.
                         LOVELY LAW GROUP, LLP
                         E-mail: stephen.lovely@verizon.net

In re Jesus Cardona and Maria Cardona
   Bankr. D. Nev. Case No. 17-10200
      Chapter 11 Petition filed January 17, 2017
         See http://bankrupt.com/misc/nvb17-10200.pdf
         represented by: Michael J. Harker, Esq.
                         LAW OFFICES OF MICHAEL J. HARKER
                         E-mail: notices@harkerlawfirm.com

In re PSGI Airport, Inc.
   Bankr. E.D. Pa. Case No. 17-10311
      Chapter 11 Petition filed January 17, 2017
         See http://bankrupt.com/misc/paeb17-10311.pdf
         represented by: Christian A. DiCicco, Esq.
                         LAW OFFICES OF CHRISTIAN A. DICICCO
                         E-mail:
cdicicco@myphillybankruptcylawyer.com

In re Jonathan Kelley
   Bankr. E.D. Va. Case No. 17-10157
      Chapter 11 Petition filed January 17, 2017
         represented by: Nathan A. Fisher, Esq.
                         E-mail: Fbarsad@cs.com

In re Supreme Ceiling & Interiors, Inc.
   Bankr. S.D. Fla. Case No. 17-10506
      Chapter 11 Petition filed January 17, 2017
         See http://bankrupt.com/misc/flsb17-10506.pdf
         represented by: Mitchell J. Nowack, Esq.
                         NOWACK & OLSON, PLLC
                         E-mail: ecf@nowackolson.com

In re Lysandra Amelia Russell
   Bankr. S.D. Fla. Case No. 17-10509
      Chapter 11 Petition filed January 17, 2017
         Filed Pro Se

In re Copia Investing, LLC
   Bankr. D. Ariz. Case No. 17-00510
      Chapter 11 Petition filed January 18, 2017
         See http://bankrupt.com/misc/azb17-00510.pdf
         represented by: Krystal Marie Ahart, Esq.
                         BANKRUPTCY LEGAL CENTER
                         E-mail: krystal.ahart@azbar.org

In re Suzanne Marie Taylor
   Bankr. N.D. Cal. Case No. 17-50100
      Chapter 11 Petition filed January 18, 2017
         represented by: Craig V. Winslow, Esq.
                         LAW OFFICES OF CRAIG V. WINSLOW
                         E-mail: CVWinslow@aol.com

In re Jeffrey C Unnerstall
   Bankr. M.D. Fla. Case No. 17-00336
      Chapter 11 Petition filed January 18, 2017
         represented by: Peter N. Hill, Esq.
                         HERRON HILL LAW GROUP, PLLC
                         E-mail: peter@herronhilllaw.com

In re Trendz Corporation
   Bankr. S.D. Ind. Case No. 17-00258
      Chapter 11 Petition filed January 18, 2017
         See http://bankrupt.com/misc/insb17-00258.pdf
         represented by: Eric C Redman, Esq.
                         REDMAN LUDWIG PC
                         E-mail: ksmith@redmanludwig.com

In re Cordel Linwood Pulkrabek
   Bankr. D. Minn. Case No. 17-60022
      Chapter 11 Petition filed January 18, 2017
         See http://bankrupt.com/misc/mnb17-60022.pdf
         represented by: Jon R. Brakke, Esq.
                         VOGEL LAW FIRM
                         E-mail: jbrakke@vogellaw.com

In re Penny Jo Hamilton-Gaertner
   Bankr. E.D.N.C. Case No. 17-00271
      Chapter 11 Petition filed January 18, 2017
         represented by: Clayton W. Cheek, Esq.
                         THE LAW OFFICES OF OLIVER & CHEEK, PLLC
                         E-mail: clayton@olivercheek.com

In re Felice Di Sanza
   Bankr. D.N.J. Case No. 17-10984
      Chapter 11 Petition filed January 18, 2017
         represented by: Kenneth J. Rosellini, Esq.
                         E-mail: kennethrosellini@gmail.com

In re JSS of Albuquerque, LLC
   Bankr. D.N.M. Case No. 17-10092
      Chapter 11 Petition filed January 18, 2017
         See http://bankrupt.com/misc/nmb17-10092.pdf
         represented by: Michael K. Daniels, Esq.
                         E-mail: mdaniels@nm.net

In re Top Footwear, LLC
   Bankr. E.D.N.Y. Case No. 17-40200
      Chapter 11 Petition filed January 18, 2017
         See http://bankrupt.com/misc/nyeb17-40200.pdf
         represented by: Julie Cvek Curley, Esq.
        DELBELLO DONNELLAN WEINGARTEN WISE & WIEDEKEHR, LLP
                         E-mail: JCurley@ddw-law.com

In re Media Marketing Research, Inc.
   Bankr. E.D.N.Y. Case No. 17-40204
      Chapter 11 Petition filed January 18, 2017
         See http://bankrupt.com/misc/nyeb17-40204.pdf
         represented by: Stephen Z. Starr, Esq.
                         STARR & STARR, PLLC
                         E-mail: stephenstarr@starrandstarr.com

In re Economy Moving and Storage, LLC
   Bankr. S.D. Ohio Case No. 17-10153
      Chapter 11 Petition filed January 18, 2017
         See http://bankrupt.com/misc/ohsb17-10153.pdf
         represented by: Robert R Jones, Esq.
                         E-mail: rrjones@rrjoneslaw.com

In re Sylvia M Garcia Ortiz
   Bankr. D.P.R. Case No. 17-00208
      Chapter 11 Petition filed January 18, 2017
         represented by: Teresa M Lube Capo, Esq.
                         LUBE & SOTO LAW OFFICES PSC
                         E-mail: lubeysoto@gmail.com

In re Oncology Institute of Puerto Rico, P.S.C.
   Bankr. D.P.R. Case No. 17-00212
      Chapter 11 Petition filed January 18, 2017
         See http://bankrupt.com/misc/prb17-00212.pdf
         represented by: Nilda M. Gonzalez Cordero, Esq.
                         GONZALEZ CORDERO LAW OFFICES
                         E-mail: ngonzalezc@ngclawpr.com

In re Via Niza, Inc.
   Bankr. D.P.R. Case No. 17-00215
      Chapter 11 Petition filed January 18, 2017
         See http://bankrupt.com/misc/prb17-00215.pdf
         represented by: Nilda M. Gonzalez Cordero, Esq.
                         GONZALEZ CORDERO LAW OFFICES
                         E-mail: ngonzalezc@ngclawpr.com

In re Michael Gene Nikirk and Kimberly S. Nikirk
   Bankr. E.D. Tenn. Case No. 17-30140
      Chapter 11 Petition filed January 18, 2017
         represented by: Kimberly H. Cambron, Esq.
                         FRESH START LAW
                         E-mail: Kim@FreshStartTennessee.com

In re Richard Mark Phillips
   Bankr. W.D. Tex. Case No. 17-10068
      Chapter 11 Petition filed January 18, 2017
         represented by: B. Weldon Ponder, Jr., Esq.
                         E-mail: welpon@austin.rr.com

In re Presidential Funeral Homes of Arkansas Inc.
   Bankr. E.D. Ark. Case No. 17-10314
      Chapter 11 Petition filed January 19, 2017
         See http://bankrupt.com/misc/areb17-10314.pdf
         represented by: Kevin P. Keech, Esq.
                         KEECH LAW FIRM, PA
                         E-mail: kkeech@keechlawfirm.com

In re Inez E. Rozar
   Bankr. S.D. Cal. Case No. 17-00276
      Chapter 11 Petition filed January 19, 2017
         represented by: Andrew Moher, Esq.
                         MOHER LAW GROUP
                         E-mail: amoher@moherlaw.com

In re Jovan Plamenac
   Bankr. S.D. Cal. Case No. 17-00287
      Chapter 11 Petition filed January 19, 2017
         represented by: Marc A. Duxbury, Esq.
                         LAW OFFICES OF MARC A. DUXBURY
                         E-mail: info@countylawcenter.com

In re Joseph P. Rigali
   Bankr. D. Colo. Case No. 17-10406
      Chapter 11 Petition filed January 19, 2017
         represented by: Jane M. Roberson, Esq.
                         E-mail: Roberson@JustAskJane.info

In re J & J Chemical, Inc.
   Bankr. D. Idaho Case No. 17-40037
      Chapter 11 Petition filed January 19, 2017
         See http://bankrupt.com/misc/idb17-40037.pdf
         represented by: Brent T. Robinson, Esq.
                         ROBINSON & TRIBE
                         E-mail: btr@idlawfirm.com

In re Deborah D. Caldwell
   Bankr. E.D.N.C. Case No. 17-00279
      Chapter 11 Petition filed January 19, 2017
         represented by: Danny Bradford, Esq.
                         PAUL D. BRADFORD, PLLC
                         E-mail: dbradford@bradford-law.com

In re Nokomis J. Evans and Tonya W. Evans
   Bankr. E.D.N.C. Case No. 17-00287
      Chapter 11 Petition filed January 19, 2017
         represented by: Danny Bradford, Esq.
                         PAUL D. BRADFORD, PLLC
                         E-mail: dbradford@bradford-law.com

In re Cargo Doctor Express Inc
   Bankr. D.N.J. Case No. 17-11153
      Chapter 11 Petition filed January 19, 2017
         See http://bankrupt.com/misc/njb17-11153.pdf
         represented by: Harrison Ross Byck, Esq.
                         KASURI BYCK, LLC
                         E-mail: lawfirm@kasuribyck.com

In re Cargo Express Transport LLC
   Bankr. D.N.J. Case No. 17-11154
      Chapter 11 Petition filed January 19, 2017
         See http://bankrupt.com/misc/njb17-11154.pdf
         represented by: Harrison Ross Byck, Esq.
                         KASURI BYCK, LLC
                         E-mail: lawfirm@kasuribyck.com

In re Christelle Rousseau
   Bankr. D. Nev. Case No. 17-10247
      Chapter 11 Petition filed January 19, 2017
         represented by: Matthew L. Johnson, Esq.
                         JOHNSON & GUBLER, P.C.
                         E-mail: annabelle@mjohnsonlaw.com

In re Alpha Metal Manufacturing, Inc.
   Bankr. W.D. Ark. Case No. 17-70125
      Chapter 11 Petition filed January 20, 2017
         See http://bankrupt.com/misc/arwb17-70125.pdf
         represented by: Donald A. Brady, Jr., Esq.
                         AADR
                         E-mail: aadrbk@gmail.com

In re Jeff Susa and Jill Susa
   Bankr. D. Nev. Case No. 17-10258
      Chapter 11 Petition filed January 20, 2017
         represented by: Samuel A. Schwartz, Esq.
                         E-mail: sam@nvfirm.com

In re Patti Dillon
   Bankr. D. Nev. Case No. 17-10264
      Chapter 11 Petition filed January 20, 2017
         represented by: Samuel A. Schwartz, Esq.
                         E-mail: sam@nvfirm.com

In re Yasar Tahmaz
   Bankr. E.D.N.Y. Case No. 17-40252
      Chapter 11 Petition filed January 22, 2017
         represented by: Robert Stumpf, Esq.
                         STUMPF LAW FIRM, P.C.
                         E-mail: rob@stumpflawfirm.com



                            *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

TCR subscribers have free access to our on-line news archive.
Point your Web browser to http://TCRresources.bankrupt.com/and use
the e-mail address to which your TCR is delivered to login.

                            *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.  
Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
Tumanda, Valerie Udtuhan, Howard C. Tolentino, Carmel Paderog,
Meriam Fernandez, Joel Anthony G. Lopez, Cecil R. Villacampa,
Sheryl Joy P. Olano, Psyche A. Castillon, Ivy B. Magdadaro, Carlo
Fernandez, Christopher G. Patalinghug, and Peter A. Chapman,
Editors.

Copyright 2017.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $975 for 6 months delivered via
e-mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Peter A.
Chapman at 215-945-7000 or Nina Novak at 202-362-8552.

                   *** End of Transmission ***