/raid1/www/Hosts/bankrupt/TCR

/raid1/www/Hosts/bankrupt/TCR_Public/170222.mbx T R O U B L E D C O M P A N Y R E P O R T E R Wednesday, February 22, 2017, Vol. 21, No. 52 Headlines 305 GREEN VALLEY: Case Summary & 2 Unsecured Creditors AMERICAN POWER: Incurs $1.82 Million Net Loss in First Quarter ANGIOSOMA INC: Delays Filing of First Quarter Form 10-Q ATOPTECH INC: US Trustee Tries to Block Incentive Bonuses Okay AUSTIN HOTELS: Disclosure Approved; Plan Hearing on March 23 AZURE MIDSTREAM: Inks Deal to Sell Assets to M5 for $151.1 Million BC EXPRESS: Hires Callins Law Firm as Attorney BONANZA CREEK: Wants Deadline for Compliance With Sec. 345(b) Moved BREITBURN ENERGY: Seeks OK of Key Employee Incentive Programs BROADWAY EQUITY: Case Summary & 10 Unsecured Creditors CHAPARRAL ENERGY: Sets Bid and Sale Procedures for Assets CLIFFS NATURAL: Has Underwrittern Offering of 55 Million Shares COMMUNITY HEALTHCARE: Case Summary & 20 Top Unsecured Creditors COSI INC: Hires Citrin as Accountants and Consultants COSI INC: Hires Q Properties as Real Estate Consultants COSI INC: Hires RSM US as Technology Consultants COSI INC: Terminates Registration of Common Stock CYTORI THERAPEUTICS: Closes Acquisition of Azaya Therapeutics DELCATH SYSTEMS: Fails to Comply with NASDAQ Bid Price Rule EM LODGINGS: Hires First Hospitality as Management Company ENID LAKESIDE: Hires Gambrell & Associates as Counsel FANNIE MAE & FREDDIE MAC: Some Investors Upbeat re D.C. Cir. Ruling FOLTS HOME: Selling Nursing Home Facilities to Upstate for $9.5M FORBES ENERGY: Charles Forbes Reports 12.3% Stake as of Dec. 31 FORBES ENERGY: John Crisp Has 6.1% Equity Stake as of Dec. 31 FREESTONE RESOURCES: Needs More Time to File Dec. 31 Form 10-Q FREMAK INDUSTRIES: Hires Wilk Auslander as Bankruptcy Counsel FRESH ICE CREAM: Case Summary & 20 Largest Unsecured Creditors FUNCTION(X) INC: Reports $2.77 Million Net Loss for Second Quarter GILLESPIE OFFICE: Hires Healey as Accounting Expert HALEYVILLE LUMBER: Hires C. Taylor Crockett as Attorney HD RETAIL: Hires Snow as Accountant HEALTH CARE TEMPORARIES: Hires Corral Tran Singh as Counsel HMF GOLF: Hires Richar & Associates as Accountant HOMER CITY GENERATION: Court Confirms Chapter 11 Plan HOMER CITY: Can Assume Restructuring Support Agreement HORSEHEAD CORP: Dyson Capital, Raymond Cook Lead Shareholder Class IN Q ENTERPRISES: Hires Fuentes Law Office as Counsel KEMET CORP: BRC Partners Ceases to be 5% Shareholder LEGACY RESERVES: Baines Creek Holds 7.6% of Preferred Equity Units LEXEL IMAGING: Hires DelCotto Law Group as Attorney LIMITED STORES: Hilco Buying Goods for $875K LIMITED STORES: HiTech Assets Buying De Minimis Assets for $138K LOUISIANA MEDICAL: Case Moved to Eastern District of Louisiana MANN REALTY: Hires Craig A. Diehl as Attorney METCOM NETWORK: Hires ACT Financial as Accountant MGQ INVESTMENTS: Hires Kasuri Byck as Attorney MIAMI NEUROLOGICAL: Ch.11 Trustee Hires GrayRobinson as Attorney MIAMI NEUROLOGICAL: Ch.11 Trustee Hires KapilaMukamal as Accountant MICHIGAN SPORTING: Hires Warner Norcross as Counsel MICHIGAN SPORTING: Taps Stout Risius as Financial Advisor MIDWAY GOLD: Gets Exclusivity to Solicit Plan Votes Thru Feb. 22 MODULAR SPACE: Court OKs Disclosure, Confirms Reorganization Plan MODULAR SPACE: US Attorney Office Objects to Prepackaged Plan NEONODE INC: Columbus Capital No Longer a Shareholder NEOVASC INC: Presented at Leerink Partners Global Conference NEPHROGENEX INC: Seeks Court Approval of PSA with Medpace ONCOBIOLOGICS INC: May Issue Add'l 1.4M Shares Under 2015 EIP ONCOBIOLOGICS INC: Registers 2 Million Shares for Resale PURSUIT HOLDINGS: Case Summary & 21 Largest Unsecured Creditors QUOTIENT LIMITED: Visium Asset No Longer Owns Shares as of Dec. 31 RENNOVA HEALTH: Obtains $3 Million Advances from Director RENNOVA HEALTH: Sramowicz Reports 10.8% Equity Stake RICEBRAN TECHNOLOGIES: Inks Deal for $8 Million Private Placement ROBISON TIRE: Execution of 2016 Lease/Option With Sistrunk Approved ROSETTA GENOMICS: Dganit Bar Resigns as Chief Scientific Officer SERVICE WELDING: Case Summary & 20 Largest Unsecured Creditors SUNSOUTH BANCSHARES: Case Summary & 6 Unsecured Creditors TRIANGLE USA: Amends Backstop Commitment Agreement TROCOM CONSTRUCTION: Hires Maltz Auctions as Auctioneer VIDEO DISPLAY: Unit Files for Chapter 11 Protection WALNUT CREEK: Case Summary & 11 Unsecured Creditors WALTER ENERGY: Court Approves Case Conversion to Chapter 7 WEATHERFORD INTERNATIONAL: Incurs $3.39 Billion Net Loss in 2016 WESTPORT HOLDINGS: Hires Moore Stephen as Accountants YU HUA LONG: Trustee Taps R.Y. Properties as Property Consultant [*] Gerard Catalanello, James Vincequerra Join Alston & Bird in NY []Glay Collier II To Spend More Time in Prison, 5th Circuit Rules [^] Large Companies with Insolvent Balance Sheet ********* 305 GREEN VALLEY: Case Summary & 2 Unsecured Creditors ------------------------------------------------------ Debtor: 305 Green Valley LLC 8143 Pleasant Hill Road Lithonia, GA 30058 Case No.: 17-53074 Chapter 11 Petition Date: February 17, 2017 Court: United States Bankruptcy Court Northern District of Georgia (Atlanta) Debtor's Counsel: Kevin J. Cowart, Esq. THE COWART LAW FIRM, P.C. P. O. Box 897 Madison, GA 30650 Tel: 706-431-2450 Fax: (404) 506-9744 E-mail: kevinjcowart@gmail.com Total Assets: $41,029 Total Liabilities: $55 million The petition was signed by Andrea H. Bishop, officer. A copy of the Debtor's list of two unsecured creditors is available for free at http://bankrupt.com/misc/ganb17-53074.pdf AMERICAN POWER: Incurs $1.82 Million Net Loss in First Quarter -------------------------------------------------------------- American Power Group Corporation reported a net loss available to common shareholders of $1.82 million on $434,000 of net sales for the three months ended Dec. 31, 2016, compared to a net loss available to common stockholders of $3.14 million on $495,000 net sales for the same period a year ago. Lyle Jensen, American Power Group Corporation's chief executive officer stated, "We believe the December 2016 quarter appears to have marked the end of a challenging two year period due to the oil crisis. While there are no guarantees when it comes to energy prices, we are seeing encouraging signs in the form of: a) oil prices staying above $50/barrel which is increasing the number of operating oil rigs; b) an increase in quotes, orders and resulting revenue for multiple oil/gas drill rig engine conversions; and c) significant increases in the pricing for NGLs (natural gas liquids) which helps our flare capture business. With oil and gas conversion revenue leading the way, we are on track for one of our best revenue quarters in almost two years with our March 2017 quarter. Mr. Jensen added, "We also see revenue growth patterns in all of our targeted markets including Latin America and Canadian vehicular dual fuel conversions, the U.S. heavy-duty truck dual fuel vehicular conversions and system deployment demand in our flare capture/natural gas liquids recovery business unit. For example, in January 2017, the Mexican government eliminated certain fuel subsidies for diesel and gasoline resulting in a 15% - 20% increase in diesel fuel prices which is causing fleets to look at natural gas solutions. In addition, in 2016 the Mexican Environmental Authority began enforcing new regulations to reduce diesel-related emissions. If a fleet does not comply with the mandated emission reductions, their daily deliveries within certain populous areas can be cut back by almost 20% due to reduced operating hours for noncompliant engines. These two factors are creating a lot of interest for APG's EPA approved and CARB Certified dual fuel solutions which have been accepted by Mexican authorities as a compliant emission reduction technology." Net sales for the three months ended Dec. 31, 2016, decreased $61,000 or 12 percent to $434,000 as compared to net sales of $495,000 for the three months ended Dec. 31, 2015. Due to increased oil reserves and a decrease in the growth rate of demand throughout certain parts of the world, the price of oil in the U.S. has dropped to the $45 to $55 per barrel range from almost $100 per barrel over two years ago, which has resulted in a decrease in diesel prices during the past two fiscal years and caused the price spread between diesel prices and natural gas to tighten. Because our dual fuel technology displaces higher cost diesel fuel with lower cost and cleaner burning natural gas, the decrease in oil/diesel pricing has resulted in a significant reduction in the number of oil and gas drilling rigs in operation and has impacted the timing of dealer restocking orders and the implementation schedules of existing and prospective customers. North American stationary revenues for the three months ended Dec. 31, 2016, decreased $13,000 or 5 percent to $270,000 as compared to $283,000 for three months ended Dec. 31, 2015. During the three months ended Dec. 31, 2016, oil and gas engine conversions accounted for 100 percent of total stationary revenue as compared to 41 percent in the prior year as the total number of oil rigs operating have begun to increase during the later portion of 2016 leading to increased opportunities. Domestic vehicular revenues for the three months ended December 31, 2016 decreased $20,000 or 22 percent to $72,000 as compared to $92,000 for the three months ended Dec. 31, 2015. The decrease was attributable to the timing of dealer/customer orders. International vehicular revenues for the three months ended Dec. 31, 2016, increased slightly to $92,000 as compared to $90,000 for the three months ended December 31, 2015. Revenue from the NGL Services division was $0 for the three months ended Dec. 31, 2016, and $30,000 for the three months ended Dec. 31, 2015. During the three months ended Dec. 31, 2016, the Company's gross loss was $244,000 or 56 percent of net sales as compared to a gross loss of $291,000 or 59 percent of net sales for the three months ended Dec. 31, 2015. The decrease in gross loss was primarily due to reduced operating expenses relating to our NGL Services division which incurred $80,000 and $193,000 of cost of goods sold expenses during the three months ended Dec. 31, 2016, and 2015, respectively. Selling, general and administrative expenses for the three months ended Dec. 31, 2016, increased $59,000 or 6 percent to $1,064,000 as compared to $1,005,000 for the three months ended Dec. 31, 2015. The increase was primarily due to increased salary expenses as compared to the three months ended Dec. 31, 2015. During the three months ended Dec. 31, 2016, interest and financing costs increased $48,000 to $251,000 as compared to $203,000 for the three months ended Dec. 31, 2015, due to increased borrowings and interest rates. In addition, during the three months ended Dec. 31, 2015, the Company recorded additional non-cash financing expense of $1,557,000 resulting from the recognition of the discount upon conversion of the contingent convertible promissory notes. During the three months ended Dec. 31, 2016, the revaluation of the Company's warrant liability to fair value resulted in non-cash revaluation income of $31,000 as compared to a non-cash revaluation income of $194,000 for the three months ended Dec. 31, 2015. A full-text copy of the press release is available for free at: https://is.gd/3mHIAV About American Power Group American Power Group's alternative energy subsidiary, American Power Group, Inc. -- http://www.americanpowergroupinc.com/-- provides a cost-effective patented Turbocharged Natural Gas conversion technology for vehicular, stationary and off-road mobile diesel engines. American Power Group's dual fuel technology is a unique non-invasive energy enhancement system that converts existing diesel engines into more efficient and environmentally friendly engines that have the flexibility to run on: (1) diesel fuel and liquefied natural gas; (2) diesel fuel and compressed natural gas; (3) diesel fuel and pipeline or well-head gas; and (4) diesel fuel and bio-methane, with the flexibility to return to 100 percent diesel fuel operation at any time. The proprietary technology seamlessly displaces up to 80% of the normal diesel fuel consumption with the average displacement ranging from 40 percent to 65 percent. The energized fuel balance is maintained with a proprietary read-only electronic controller system ensuring the engines operate at original equipment manufacturers' specified temperatures and pressures. Installation on a wide variety of engine models and end-market applications require no engine modifications unlike the more expensive invasive fuel-injected systems in the market. American Power reported a net loss available to common stockholders of $10.40 million on $1.86 million of net sales for the year ended Sept. 30, 2016, compared to a net loss available to common stockholders of $1.04 million on $2.95 million of net sales for the year ended Sept. 30, 2015. As of Sept. 30, 2016, American Power had $9.79 million in total assets, $8.16 million in total liabilities and $1.62 million in total stockholders' equity. Schechter Dokken Kanter Andrews & Selcer, Ltd., in Minneapolis, Minnesota, issued a "going concern" qualification on the consolidated financial statements for the year ended Sept. 30, 2016, citing that the Company has suffered recurring losses from operations and has a net capital deficiency that raises substantial doubt about its ability to continue as a going concern. ANGIOSOMA INC: Delays Filing of First Quarter Form 10-Q ------------------------------------------------------- AngioSoma, Inc., said that its report on Form 10-Q for the quarterly period ended Dec. 31, 2016, could not be filed within the prescribed time period because the Company needs additional time to complete the financial statements and to prepare the Form 10-Q. The Company anticipates that it will require no more than the additional five days allowed to complete and file the Form 10-Q. On June 3, 2016, AngioSoma, Inc. merged with AngioSoma Research, Inc., a Nevada corporation. For accounting purposes, the merger is treated as a "reverse acquisition" under accounting principles generally accepted in the United States and AngioSoma Nevada is considered the accounting acquirer. Accordingly, AngioSoma Nevada's historical results of operations will replace the Company's historical results of operations for all periods prior to the merger and, for all periods following the merger, the results of operations of the combined company will be included in the Company's financial statements. As a result, the Company expects its results of operations to be significantly different from those previously presented. The Company is in the process of completing the accounting for the acquisition and quantifying the differences. About Angiosoma Inc. Angiosoma Inc., a Nevada corporation, was incorporated on September 16, 2010. The Company was formed to design and manufacture both panel and engineered/tooled custom vacuum formed instrument panels and wiring harnesses, required for the monitoring of any final product that utilizes a gas or diesel engine source. The Company is currently primarily an oil and gas exploration company. As of June 30, 2016, Angiosoma had $3.25 million in total assets, $713,110 in total liabilities and $2.53 million in total stockholders' equity. For the period from inception (April 29, 2016) through June 30, 2016, the Company had a net loss of $83,918 and negative cash flow from operating activities of $12,001. As of June 30, 2016, the Company had negative working capital of $648,128. Management does not anticipate having positive cash flow from operations in the near future. These factors raise a substantial doubt about the Company's ability to continue as a going concern, as disclosed in the Company's quarterly report on Form 10-Q for the period ended June 30, 2016. ATOPTECH INC: US Trustee Tries to Block Incentive Bonuses Okay -------------------------------------------------------------- Andrew R. Vara, Acting U.S. Trustee for Region 3, filed with the U.S. Bankruptcy Court for the District of Delaware an objection to Atoptech, Inc.'s motion for approval of the Debtor's key employee retention program and key employee incentive program. The U.S. Trustee objects to the Motion to the extent it seeks approval of a KEIP covering five insiders, because the Debtor has not satisfied its burden under Section 503(c) to demonstrate, inter alia, that (i) payments under the KEIP are not retention payments and (ii) the KEIP is justified by the facts and circumstances of these cases. Although the Motion states that the KEIP payments are for the achievement of "performance objectives," the proposed payments appear to be retention payments designed to keep the insiders employed through completion of a sale. On Jan. 24, 2017, the Debtor filed the Motion, wherein it seeks entry of a court order (a) authorizing the Debtors to honor a pre-petition bonus plan for non-insiders, with two modifications, for payments totaling $1.2 million to 67 employees, and (b) approving a key employee incentive plan for five executives, with payments totaling $305,000. The payments under the pre-petition bonus plan, which was designed to "ensure retention," were payable in two equal installments in October 20163 and the later of April 2017, or a change in control. The KEIP is a continuation of the pre-petition bonus plan for the five insiders, "with the modification that each must achieve a specified performance objective." In order for insiders to receive payment under the KEIP, they must meet certain "performance objectives," depending on the employee's role. Three of the insiders are required to develop and deliver a new release of Aprisa in the first quarter of 2017 that meets certain specifications. The other two insiders are required, among other things, to manage and coordinate the Chapter 11 filing, assist in the asset sale transaction and communicate with investors, customers and employees. The Objection is available at: http://bankrupt.com/misc/deb17-10111-141.pdf About ATopTech ATopTech, Inc. -- http://www.atoptech.com/-- is in the business of IC physical design. ATopTech claims its technology offers the fastest time to design closure focused on advanced technology nodes. The use of state-of-the-art multi-threading and distributed processing technologies speeds up the design process, resulting in unsurpassed project completion times. ATopTech, Inc., sought Chapter 11 protection (Bankr. D. Del. Case No. 17-10111(MFW)) on Jan. 13, 2017. The petition was signed by Claudia Chen, vice president, finance. The case is assigned to Judge Mary F. Walrath. The Debtor estimated assets and liabilities in the range of $10 million to $50 million. ATopTech has retained Dorsey & Whitney as bankruptcy counsel and Cowen and Company as its investment banker. Wilson Sonsini Goodrich & Rosati, Professional Corporation, serves as corporate and transactional counsel to ATopTech. Grant Thornton serves as tax counsel; and Arnold & Porter serves as litigation counsel. Epiq Bankruptcy serves as claims and notice agent. AUSTIN HOTELS: Disclosure Approved; Plan Hearing on March 23 ------------------------------------------------------------ The Hon. Peter G. Cary of the U.S. Bankruptcy Court for the District of Maine has approved Austin Hotels, LLC's disclosure statement relating to the Debtor's first amended plan of reorganization dated Feb. 2, 2017. The hearing to consider the confirmation of the Amended Plan will be held on March 23, 2017, at 10:00 a.m. March 16, 2017, at midnight (Eastern Standard Time) is the last date and time for filing of written objections to the Amended Plan or confirmation of the Amended Plan. Ballots for acceptance or rejection of the Amended Plan must be completed and delivered so that they are actually received on or before March 16, 2017, at 5:00 p.m. (Eastern Standard Time). Headquartered in Brunswick, Maine, Austin Hotels, LLC, filed for Chapter 11 bankruptcy protection (Bankr. D. Ma. Case No. 16-20599) on Oct. 24, 2016, estimating its assets and liabilities at between $1 million and $10 million each. The petition was signed by Linwood Austin, manager. George J. Marcus, Esq., at Marcus, Clegg, Bals & Rosenthal, P.A., serves as the Debtor's bankruptcy counsel. AZURE MIDSTREAM: Inks Deal to Sell Assets to M5 for $151.1 Million ------------------------------------------------------------------ Azure Midstream Partners, LP and the direct and indirect subsidiaries of the Partnership entered into a purchase and sale agreement with M5 Midstream, LLC, on Feb. 10, 2017. Pursuant to the terms of the PSA, the Sellers agreed to sell substantially all of their assets to M5 for $151.1 million in cash, subject to certain customary purchase price adjustments. Under the PSA, Sellers are responsible for cure payments to counterparties to executory contracts to be assumed by M5. In connection with the execution of the PSA, M5 is obligated to deposit $15.1 million in escrow. Upon the closing of the transactions contemplated by the PSA, the deposit will be credited against the Purchase Price. The PSA contains customary representations, warranties and covenants. The parties expect to close the Disposition on or prior to April 14, 2017, subject to customary closing conditions and approval by the Bankruptcy Court. The PSA does not impose any post-closing indemnification obligations on either Sellers or Buyer. The Partnership has filed the PSA with the United States Bankruptcy Court for the Southern District of Texas along with a motion seeking, among other relief, the establishment of bidding procedures for an auction that allows other qualified bidders to submit higher or otherwise better offer to purchase all or substantially all of the Sellers' assets. The PSA may be terminated, subject to certain exceptions: (i) upon mutual written consent; (ii) if the closing has not occurred by April 14, 2017; (iii) for certain material breaches by a party of representations and warranties or covenants that remain uncured; (iv) if casualty losses equal or exceed 10% of the Purchase Price; (v) if any governmental authority issues an order prohibiting the transaction; (vi) if an alternative transaction is pursued and has been consummated; (vii) if M5 is not a prevailing bidder or backup bidder in an auction; (viii) if the bid procedures order or the sale order is, after filing, vacated, modified or supplemented in a manner that is material and adverse to either Sellers or Buyer; and (ix) if the bankruptcy cases are converted to Chapter 7, dismissed, or a trustee is appointed under Chapter 11. A full-text copy of the Purchase and Sale Agreement is available for free at https://is.gd/sAaXzH 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. BC EXPRESS: Hires Callins Law Firm as Attorney ---------------------------------------------- BC Express Mart, LLC seeks authorization from the U.S. Bankruptcy Court for the Middle District of Georgia to employ The Callins Law Firm, LLC as attorney. The Debtor requires the Firm to represent it in its Chapter 11 proceedings and other matters involving the case. The Firm will be paid for its services at these hourly rates: Partners $215-$250 Associates $115-$150 Paralegals $55-$85 Joel A.J. Callins, Esq., member of The Callins Law Firm, 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 estates. The Firm may be reached at: Joel A.J. Callins, Esq. The Callins Law Firm, LLC 101 Marietta Street, Suite 1030 Atlanta, GA 30303 Tel: (404)681-5826 Fax: (866)299-4338 About BC Express Mart BC Express LLC filed for bankruptcy protection (Bankr. M.D. Ga., Case No. 17-50113) on January 18, 2017. The petition was signed by owner, Belinda Calloway. The case is assigned to Hon. James P. Smith. The Debtor listed estimated assets and liabilities of $1 million to $10 million. Joel A.J. Callins, Esq. of The Callins Law Firm, LLC, serves as counsel to the Debtor. BONANZA CREEK: Wants Deadline for Compliance With Sec. 345(b) Moved ------------------------------------------------------------------- Bonanza Creek Energy, Inc., and its subsidiaries filed with the U.S. Bankruptcy Court for the District of Delaware a motion to extend and conditionally waive the deadline for compliance with the requirements of Section. 345(b) with respect to BCEI's bank accounts at BBVA Compass Bank with account numbers ending in 3055 and 5756 so long as the Debtors confirm the Prepackaged Plan on or before April 7, 2017. The Debtors submit that the Court extend the deadline for compliance with the requirements of Section 345(b) to April 7, 2017, and waive these requirements so long as the Prepackaged Plan is confirmed on or before April 7, 2017, because there is no cognizable risk to maintaining cash in the BBVA Accounts and there is no cost effective alternative. The cash held in the BBVA Accounts is invested in a manner that ensures the safety and preservation of such funds and by no means could be considered speculative or harmful to the Debtors' estates. Specifically, the cash is held in a deposit account with a federally chartered bank subject to supervision by federal banking regulators in the United States. BBVA Compass also has an investment grade credit rating from each of the three major credit rating agencies. If the Debtors were forced to move the funds in the BBVA Accounts to another bank, they would be forced to incur transaction costs, implement costly new cash management procedures and renegotiate payment terms with almost all of their counterparties to ensure they have the liquidity needed to meet their expenses in the ordinary course, which would generate a negative investment return for the Debtors and their estates. The Debtors say that strict compliance with Section 345 of the Bankruptcy Code would not be practical in these Chapter 11 cases in light of the fact that the hearing on confirmation of the plan is currently scheduled to begin on March 17, 2017, and the Debtors may be in a position to emerge from Chapter 11 by the end of next month. The final court order authorizing the Debtors to utilize cash collateral provides that all proceeds of prepetition collateral in excess of approved disbursements under a budget will be kept in the BBVA Operating Account. If the Debtors cannot deposit cash in the BBVA Operating account, they will need to renegotiate the consensual use of cash collateral with their secured lenders. Finally, in the very unlikely event that BBVA Compass were to fail before the confirmation hearing, rendering the use of cash held in the BBVA Accounts severely limited, the Debtors have sufficient cash in their account with UMB Bank to successfully reorganize. A copy of the motion is available at: http://bankrupt.com/misc/deb17-10015-285.pdf A hearing on the motion is set for March 10, 2017, at 10:00 a.m. (EST). Objections to the motion must be filed by March 3, 2017, at 4:00 p.m. (EST). Jeff Montgomery, writing for Bankruptcy Law360, reports that an attorney for Bonanza Creek Resources Inc. told the Court on Feb. 15 that extra days added to its prepackaged, $1 billion-plus Chapter 11 schedule will give shareholders more time to work on an alternative while negotiations continue with dissenting noteholders. About Bonanza Creek Energy 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. 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. Bonanza Creek Energy on Dec. 23, 2016, filed a Joint Prepackaged Plan of Reorganization and Disclosure Statement after reaching a deal with (i) certain holders that own or manage with the authority to act on behalf of the beneficial owners of 51.1% in aggregate principal amount of Bonanza Creek's approximately $800 million in aggregate principal amount of outstanding 5.75% Senior Notes and 6.75% Senior Notes; and (ii) NGL Energy Partners LP and NGL Crude Logistics, LLC, the counterparties to one of the Debtors' crude oil purchase and sale agreements. Davis, Polk & Wardwell LLP is acting as legal counsel to the Debtors, 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. BREITBURN ENERGY: Seeks OK of Key Employee Incentive Programs ------------------------------------------------------------- BankruptcyData.com reported that Breitburn Energy Partners filed with the U.S. Bankruptcy Court a motion for an order approving Debtors' 2017 retention and incentive programs for certain key employees. The motion explains, "By this Motion, the Debtors seek approval of their 2017 employee compensation programs (the '2017 Employee Programs') that are substantially identical to the 2016 Employee Programs, except with respect to modifications necessary to reflect a slight decrease in the number of program participants, appropriate changes to performance metrics to reflect the operational goals for fiscal year 2017, and adjustments for equity-related discounts imposed on the 2016 KERP participants. Like the 2016 Employee Programs, the 2017 Employee Programs consist of three separate elements covering three distinct groups of employees. Substantially similar to its predecessor programs, the 2017 Employee Programs provide for the Debtors to (a) make quarterly cash payments (subject to continued employment) to (i) 2017 STIP eligible non-insider rank-and-file employees (the '2017 General Rank-and-File Program') and (ii) 2017 non-insider rank-and-file employees that were STIP and LTIP eligible prepetition (the '2017 Rank-and-File Incentive Program' and, together with the General Rank-and-File Program, the '2017 KERP'), (b) make quarterly cash payments to designated key employees based upon the individual and the Debtors meeting quarterly performance metrics for the 2017 fiscal year (the '2017 KEP'), and (c) make quarterly cash payments to four key executives solely if the Debtors meet incentive-based performance metrics for the 2017 fiscal year (the '2017 KEIP')." The Court scheduled a February 23, 2017 hearing on the motion, with responses due by February 16, 2017. The Debtors also filed a separate motion to file under seal an Exhibit related to the declaration of James G Jackson (the Company's C.F.O.) in support of the motion. About Breitburn Energy Partners LP Breitburn Energy Partners LP and 21 of its affiliates filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No. 16-11390) on May 15, 2016, listing assets of $4.71 billion and liabilities of $3.41 billion. Breitburn Energy et al., are an independent oil and gas Partnership engaged in the acquisition, exploitation and development of oil and natural gas properties, Midstream Assets, and a combination of ethane, propane, butane and natural gasoline that when removed from natural gas become liquid under various levels of higher pressure and lower temperature, in the United States. The Debtors conduct their operations through Breitburn Parent's wholly-owned subsidiary, Breitburn Operating LP, and BOLP's general partner, Breitburn Operating GP LLC. The U.S. trustee for Region 2 appointed three creditors of Breitburn Energy Partners LP and its affiliates to serve on the official committee of unsecured creditors, and on Nov. 15, the U.S. Trustee appointed seven creditors of Breitburn Energy Partners LP and its affiliated debtors to serve on the official committee of unsecured creditors. BROADWAY EQUITY: Case Summary & 10 Unsecured Creditors ------------------------------------------------------ Debtor: Broadway Equity Holdings LLC 1507 Avenue M Brooklyn, NY 11230 Case No.: 17-22242 Chapter 11 Petition Date: February 17, 2017 Court: United States Bankruptcy Court Southern District of New York (White Plains) Judge: Hon. Robert D. Drain Debtor's Counsel: Arnold Mitchell Greene, Esq. ROBINSON BROG LEINWAND GREENE GENOVESE & GLUCK, P.C. 875 Third Avenue, 9th Floor New York, NY 10022 Tel: (212) 603-6300 Fax: (212) 956-2164 E-mail: amg@robinsonbrog.com Total Assets: $6.27 million Total Liabilities: $3.07 million The petition was signed by Judy Minster, managing member. A copy of the Debtor's list of 10 unsecured creditors is available for free at http://bankrupt.com/misc/nysb17-22242.pdf CHAPARRAL ENERGY: Sets Bid and Sale Procedures for Assets --------------------------------------------------------- Chaparral Energy, Inc., and affiliates ask the U.S. Bankruptcy Court for the District of Delaware to authorize the bidding procedures in connection with their sale of assets by auction. A hearing on the Motion is set for March 9, 2017 at 10:00 a.m. (ET). The objection deadline is March 2, 2017 at 4:00 p.m. (ET). The Debtors have recently filed their Joint Plan of Reorganization for Chaparral Energy, Inc. and its affiliate debtors under Chapter 11 of the Bankruptcy Code, and their confirmation hearing is scheduled for March 9, 2017. In order to maximize the value of the assets that are the subject of the Motion, the Debtors intend to pursue a bidding and auction process extending over several weeks, which will likely result in the closing of a "Sale" occurring after the effective date of the Plan. Furthermore, because the Motion contemplates selling interests of co-owners in certain of the assets pursuant to Section 363(h) of the Bankruptcy Code, the Debtors intend to initiate adversary proceedings against all such co-owners as required by Bankruptcy Rule 7001(3) ("Adversary Proceeding"). Since the Adversary Proceeding will almost certainly be pending and unresolved as of the Plan Effective Date, the Debtors are requesting that the Court retain jurisdiction to hear all matters related to or arising under or in connection with the Adversary Proceeding, the Motion, the bidding procedures, and the Sale to ensure that the Debtors and the Reorganized Debtor obtain the highest and otherwise best price possible under the circumstances. The Debtors are engaged in carbon dioxide enhanced oil recovery at various wells they operate in the State of Oklahoma. The Debtors currently own an interest in the Velma Pipeline that runs from a fertilizer plant owned by Koch Fertilizer, L.L.C. in Garfield County, Oklahoma to Stephens County, Oklahoma. The Assets are used to transport CO2 from the Koch Fertilizer Plant to (i) a "unit" wholly owned and operated by the Debtors known as the Northwest Velma Hoxbar Unit; (ii) a unit formerly owned and operated by the Debtors known as the East Velma West Block Sims Sand Unit; and (iii) two units (known as the Purdy Unit and the Bradley Unit) owned and operated by Merit Energy Co. Although the Pipeline is currently being used to transport CO2, the Pipeline bisects two of the most active North American oil plays - the STACK and SCOOP plays in central Oklahoma - making it ideally situated and, in turn, extremely valuable for transporting oil. The Assets are jointly owned by (i) Chaparral CO2, L.L.C, a debtor in these Chapter 11 Cases, (ii) Merit, and (iii) several other third parties that hold working interests in the Merit Units or the Velma Unit4 ("Other Joint Interest Owners"). Upon information and belief, Chaparral CO2 and Merit own the vast majority of the Pipeline, with the non-Merit Other Joint Interest Owners collectively owning less than 10% of the Pipeline. There is no other practical way for CO2 to reach the Debtors' units other than through the Pipeline. The Assets consist of two segments of pipeline, each of which is jointly owned by several parties: a. Segment A is 118 miles of eight inch diameter pipe running from the Koch Fertilizer Plant to the Purdy and Bradley Units in southern Grady County, Oklahoma ("Merit Units"). It is jointly owned by Merit, certain Other Joint Interest Owners, and Chaparral CO2. b. Segment C6 is 23.7 miles of six inch diameter pipe extending from the junction of Segment A and Segment B south to the Velma Unit and the Debtors' Hoxbar Unit, both located in Stephens County, Oklahoma. Segment C is jointly owned by the Debtors and certain Other Joint Interest Owners in the Velma Unit. Until Dec. 31, 2016, the terms of Merit and the Debtors' joint ownership of the Assets were governed by that certain Amended and Restated Articles of Agreement, Enid to Velma/Purdy CO2 Delivery System, dated as of Aug.23, 1996 ("Articles of Agreement"), and the terms of the CO2 sales from Merit to the Debtors were governed by that certain Operation Agreement, attached to the Articles of Agreement and that certain Agreement for Sale and Purchase of CO2, dated as of Aug. 23, 1996. On Dec. 31, 2016, the Agreements expired by their express terms. Despite extensive negotiations with Merit, the Debtors were unable to reach a new agreement regarding the sale and delivery of CO2 through the Pipeline. The Debtors also attempted to negotiate a CO2 contract directly with Koch, but have likewise not been able to reach agreement. Due to these developments, the Debtors have been unable to obtain CO2 through the Pipeline since Jan. 1, 2017, and, as a result, oil and gas production at the Debtors' Hoxbar Unit has steadily declined. This predicament, however, caused the Debtors to re-evaluate the value of the Pipeline and the wells connected to it, and whether their value could be maximized through other uses. After consultation with their major creditors constituencies, the Debtors have determined that, even with access to CO2, the Debtors would not be able to derive additional value from the connected wells given the relatively modest amounts of remaining oil and gas at such locations. Once the Debtors determined that they no longer had any ability to use the Assets, the Debtors reached out to certain potential purchasers to gauge interest in the Assets. As a result of these efforts, the Debtors obtained a number of offers to purchase the Assets. Each offer, however, contemplated purchasing the Assets in their entirety, rather than the interests of the Debtors only. While the Debtors are open to selling only their interests, their marketing efforts to date have demonstrated that far greater value can be achieved through the sale of the Assets in their entirety. Any Sale of the Assets pursuant to the Motion will be conditioned upon either receiving the Other Joint Interest Owners' consent to the Sale or, if such consent cannot be obtained, a ruling in the Adversary Proceeding permitting the Sale free and clear of the Other Joint Interests. The Debtors submit that the Bid Procedures will enable the Debtors to conduct a sale process that will maximize the value of their estates. The salient terms of the Bidding Procedures are: a. Bid Deadline: March 21, 2017 at 12:00 p.m. (ET) b. Good Faith Deposit: Equal to 10% of the cash purchase price. c. Auction: In the event that the Debtors timely receive more than one Qualified Bid with respect to the Assets, the Debtors will conduct an Auction. The Auction will be in accordance with the Bid Procedures and upon notice to all Qualified Bidders who have submitted Qualified Bids. The Auction will be conducted at the offices of Latham & Watkins LLP, 811 Main Street, Houston, Texas. The Debtors may notify all Qualified Bidders and the Consultation Parties of the date, time, or location in writing. d. Starting Bid: At least one business day prior to the Auction, the Debtors or their advisors will provide copies of the Qualified Bid or combination of Qualified Bids which the Debtors believe is the highest or otherwise best offer. e. Subsequent Bid: Bidding at the Auction will begin with the Starting Bid and continue, in one or more rounds of bidding, so long as during each round at least one subsequent bid is submitted by a Qualified Bidder(s) that improves upon such Qualified Bidder's immediately prior Qualified Bid. f. Successful Bid: The highest or otherwise best offer(s) for the Assets. g. The Sale Hearing: If the Debtors do not receive any Qualified Bids, the Debtors will report the same to the Court at the Sale Hearing. At the Sale Hearing, the Debtors will seek approval of the offer or offers constituting the Successful Bid and, at the Debtors' election, the offer or offers constituting the Alternate Bid. h. Closing: July 31, 2017 A copy of the Bid Procedures attached to the Motion is available for free at: http://bankrupt.com/misc/Chaparral_Energy_846_Sales.pdf To incentivize potential bidders and thereby maximize the potential value of the Assets, the Debtors request that they be authorized to designate one or more Qualified Bids as a "Stalking Horse Bid" and to execute an Asset Purchase Agreement with such Stalking Horse Bidder in connection with the proposed sale of the Assets, at any time before the commencement of the Auction. Upon execution of an Asset Purchase Agreement with any Stalking Horse Bidder, the Debtors will file a notice with the Court of such Stalking Horse Bidder and Asset Purchase Agreement. If the Debtors execute an Asset Purchase Agreement with any Stalking Horse Bidder(s), the Debtors may provide such Stalking Horse Bidder(s) with a Break-Up Fee and an Expense Reimbursement. In the event the Debtors determine to provide the Bid Protections, no later than 3 calendar days after execution of an Asset Purchase Agreement with any Stalking Horse Bidder, the Debtors will file and serve a notice of the proposed Bid Protections on all applicable interested parties. The notice will include the amount of any Break-Up Fee and Expense Reimbursement; provided that (i) the aggregate amount of the Bid Protections will not exceed 3% of the cash portion of the purchase price and (ii) such Bid Protections will be payable and paid solely and exclusively from the aggregate cash proceeds of the closing of an alternative sale transaction (if any). The Debtors will request the Court to set a hearing to approve the Bid Protections no earlier than 7 calendar days after the execution of an Asset Purchase Agreement with any Stalking Horse Bidder. The Debtors will file and serve notice of such hearing on all applicable interested parties. As part of the Sale, the Debtors may assign the Assigned Contracts to the Successful Bidder. The Debtors believe that no need exists for them to separately designate contracts or leases for assumption because, pursuant to Article VI.A of the Plan, all executory contracts and unexpired leases that have not specifically been rejected will be assumed by the Debtors on the Plan Effective Date, which should occur prior to the closing of any Sale. The Debtors possess ample and sound business reasons for selling the Assets at this time. The administrative and economic costs of maintaining such assets for an uncertain period of time would not be in the best interest of the estates. The Sale (in whatever form that ultimately results) represents the highest and best use for the Assets. Accordingly, the Debtors ask that the Court approve the proposed bidding and sale procedures for Assets, and such other and further relief to the Debtors as the Court may deem proper. 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. CLIFFS NATURAL: Has Underwrittern Offering of 55 Million Shares --------------------------------------------------------------- Cliffs Natural Resources Inc., proposes to issue and sell to Goldman, Sachs & Co., as representative to several underwriters, an aggregate of 55,000,000 common shares, par value $0.125 per share, of the Company and, at the option of the Underwriters, up to an additional 8,250,000 common shares, par value $0.125 per share, of the Company. In connection with the offering of Shares, the Company will commence a cash tender offer for up to the maximum aggregate principal amount of its outstanding 5.90% Senior Notes due March 2020, 4.80% Senior Notes due October 2020 and 4.875% Senior Notes due 2021 that it can purchase for up to $250,000,000 in aggregate purchase price. The net proceeds from the Equity Offering will be used to (i) pay consideration to holders who tender Outstanding Notes in the Tender Offer and (ii) pay fees and expenses in connection with the Tender Offer and the Equity Offering. The Company may also pursue additional refinancing transactions, which may include an offering of debt securities. The Company has prepared and filed with the Securities and Exchange Commission under the Securities Act of 1933, as amended, and the rules and regulations of the Commission thereunder, a registration statement on Form S-3, including a base prospectus to be used in connection with the public offering and sale of the Shares. A full-text copy of the Underwriting Agreement is available for free at https://is.gd/jmt7pM About Cliffs Natural Resources Cliffs Natural Resources Inc. -- http://www.cliffsnaturalresources.com/-- is a mining and natural resources company. The Company is a major supplier of iron ore pellets to the U.S. steel industry from its mines and pellet plants located in Michigan and Minnesota. Cliffs also produces low-volatile metallurgical coal in the U.S. from its mines located in West Virginia and Alabama. Additionally, Cliffs operates an iron ore mining complex in Western Australia and owns two non-operating iron ore mines in Eastern Canada. Driven by the core values of social, environmental and capital stewardship, Cliffs' employees endeavor to provide all stakeholders operating and financial transparency. On Jan. 27, 2015, Bloom Lake General Partner Limited and certain of its affiliates, including Cliffs Quebec Iron Mining ULC commenced restructuring proceedings in Montreal, Quebec, under the Companies' Creditors Arrangement Act (Canada). The initial CCAA order will address the Bloom Lake Group's immediate liquidity issues and permit the Bloom Lake Group to preserve and protect its assets for the benefit of all stakeholders while restructuring and sale options are explored. Cliffs Natural reported a net loss attributable to Cliffs common shareholders of $788 million on $2.01 billion of revenues for the year ended Dec. 31, 2015, compared to a net loss attributable to Cliffs common shareholders of $7.27 billion on $3.37 billion of revenues for the year ended Dec. 31, 2014. As of Sept. 30, 2016, Cliffs Natural had $1.77 billion in total assets, $3.17 billion in total liabilities and a $1.40 billion total deficit. * * * As reported by the TCR on Feb. 14, 2017, Moody's Investors Service upgraded Cliffs Natural Resources Inc.'s Corporate Family Rating (CFR) and Probability of Default Rating to B2 and B2-PD from Caa1 and Caa1-PD, respectively, and assigned a B3 rating to the new senior unsecured guaranteed notes. The upgrade follows the company's announcement of a $500 million senior unsecured guaranteed note issuance and an approximate $590 million equity issuance. In February 2017, S&P Global Ratings said it raised its long-term corporate credit rating on Cliffs Natural Resources Inc. to 'B' from 'CCC+' after the company announced a $591 million equity issuance and the tender offer for high-cost debt. The outlook is stable. COMMUNITY HEALTHCARE: Case Summary & 20 Top Unsecured Creditors --------------------------------------------------------------- Debtor: Community Healthcare, PLLC fdba Knoxville Integrated Healthcare 7035 Middlebrook Knoxville, TN 37909 Case No.: 17-30422 Nature of Business: Health Care Chapter 11 Petition Date: February 17, 2017 Court: United States Bankruptcy Court Eastern District of Tennessee (Knoxville) Judge: Hon. Suzanne H. Bauknight Debtor's Counsel: Kimberly H. Cambron, Esq. EDMISTON CAMBRON, PLLC 7031 Middlebrook Pike Knoxville, TN 37909 Tel: 865- 850-2898 Fax: 865-730-4169 E-mail: kcambron@edmistoncambron.com - and - Keith L Edmiston, Esq. EDMISTON CAMBRON, PLLC 7031 Middlebrook Pike Knoxville, TN 37909 Tel: (865) 248-6038 Fax: (865) 383-0354 E-mail: kedmiston@edmistoncambron.com Total Assets: $2.61 million Total Liabilities: $212,228 The petition was signed by Riley Senter, MD, managing member. A copy of the Debtor's list of 20 largest unsecured creditors is available for free at http://bankrupt.com/misc/tneb17-30422.pdf COSI INC: Hires Citrin as Accountants and Consultants ----------------------------------------------------- Cosi, Inc., and its debtor-affiliates seek permission from the U.S. Bankruptcy Court for the District of Massachusetts to retain Citrin Cooperman & Company, LLP to serve as their accountants and consultants. On October 7, 2016, the Debtors file a motion which sought authority for the sale of substantially all of their assets to the debtor-in-possession lenders as the stalking horse bidder, or another bidder to be determined after an auction. On October 18, 2016, the Debtors entered into an Asset Purchase Agreement ("APA") with LIMAB, LLC, as stalking horse bidder. On November 29, 2016, the Debtors filed a Notice of Winning bidder, which identified LIMAB as winning bidder. Consulting Services: The Debtors, upon LIMAB's request, seek to engage Citrin to assist with the formulation of the Franchisor Entity pursuant to the Consulting Engagement Letter. In addition to provide consulting services regarding the formation of the Franchisor Entity, Citron will provide consulting services in connection with: a. development of franchise licensing agreements; b. business consulting; c. due diligence; d. merger and/or acquisition integration; e. state and local tax analysis and state allocations; f. franchise operational consulting; and g. franchise specific advice. For Auditing Services: Citrin will also be tasked to perform an audit of the financial statements of the Franchisor Entity, which comprise the opening bale sheet as of the formation date (to be determined), and the related notes to the financial statements, and preparation of the 2016 federal state and local business income tax returns for Cosi, Inc. Pursuant to the terms of the Operating Agreement, LIMAB will bear the expenses incurred by engaging Citrin. Citrin will be compensated as follows: A. Consulting Services will be billed at these hourly rates: Partners $450-$650 Directors $375-$450 Managers $290-$375 Senior Accountants $250-$290 Staff Accountants/Bookkeepers $170-$250 Paraprofessionals $170 B. Auditing Services: Citrin will be paid a flat fee of $5,000 for the audit and $7,500 to $9,500 for the tax return. Citrin will also be reimbursed for reasonable out-of-pocket expenses incurred for both services. Peter Brown, partner of Citrin Cooperman & Company, LLP, assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtors and their estates. Citrin may be reached at: Peter Brown Citrin Cooperman & Company, LLP 529 Fifth Avenue New York, NY 10017 Tel: 212-697-1000 Fax: 212-697-1004 About Cosi Inc. Cosi, Inc., is an international fast-casual restaurant company featuring its crackly-crust flatbread 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. The company 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 and its subsidiaries 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 COSI INC: Hires Q Properties as Real Estate Consultants ------------------------------------------------------- Cosi, Inc., and its debtor-affiliates seek permission from the U.S. Bankruptcy Court for the District of Massachusetts to retain Q Properties as real estate consultants. The Debtors operate an international fast casual restaurant company. On October 7, 2016, the Debtors file a motion which sought authority for the sale of substantially all of the Debtors' assets to the Debtors' debtor-in-possession lenders as the stalking horse bidder, or another bidder to be determined after an auction. On October 18, 2016, the Debtors entered into an Asset Purchase Agreement ("APA") with LIMAB, LLC, as stalking horse bidder. On November 29, 2016, the Debtors filed a Notice of Winning bidder, which identified LIMAB as winning bidder. The Debtors, on LIMAB's request, seek to engage Q Properties as real estate consultants to help LIMAB review and negotiate modifications of existing real estate leases. Pursuant to the terms of the Operating Agreement, LIMAB will bear the expenses incurred by engaging Q Properties. Q Properties will be compensated a flat fee of $16,000 (pro-rated for any partial month) plus a variable success fee based on the lease savings achieved as follows: a. 8% of the savings for years 2017-18; b. 7% of the savings for years 2019-20; c. 6% of the savings for years 2021-22; d. 5% of the savings for years 2023-24; and e. 4% of the savings for any following years. Q Properties will also be reimbursed for reasonable out-of-pocket expenses incurred. James Quackenbush, principal in Q Properties, 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. Q Properties may be reached at: James Quackenbush Q Properties PO Box 625 Hamden, MA 01036 E-mail: jquack2@yahoo.com About Cosi Inc. Cosi, Inc., is an international fast-casual restaurant company featuring its crackly-crust flatbread 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. The company 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 and its subsidiaries 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; DLA Piper LLP (US) as special counsel; The O'Connor Group as financial consultant; BDO USA, LLP as auditor and accountant; and Randy Kominsky of Alliance for Financial Growth, Inc., as chief restructuring officer. The Office of the U.S. Trustee appointed an official committee of unsecured creditors. The committee is represented by Lee Harrington, Esq., at Nixon Peabody LLP. Deloitte Financial Advisory Services LLP serves as its financial advisor. COSI INC: Hires RSM US as Technology Consultants ------------------------------------------------ Cosi, Inc., and its debtor-affiliates seek permission from the U.S. Bankruptcy Court for the District of Massachusetts to retain RSM US LLP as technology consultants to the Debtors. The Debtors operate an international fast casual restaurant company. On October 7, 2016, the Debtors file a motion which sought authority for the sale of substantially all of the Debtors' assets to the Debtors' debtor-in-possession lenders as the stalking horse bidder, or another bidder to be determined after an auction. On October 18, 2016, the Debtors entered into an Asset Purchase Agreement ("APA") with LIMAB, LLC, as stalking horse bidder. On November 29, 2016, the Debtors filed a Notice of Winning bidder, which identified LIMAB as winning bidder. The Debtors, on LIMAB's request, seek to engage RSM US as technology consultants to help LIMAB prepare the operating entity for improvements of its operating systems. As set forth in the agreement, RMS US will: a. gain an understanding of COSI'S strategic plans, current business practices business systems, and data management; b. review supporting IT infrastructure and future-state capabilities; and c. prepare a final report that will include an assessment of current applications, a review of possible alternative models and solutions, and a short list of options for a go-forward plan. Pursuant to the terms of the Operating Agreement, LIMAB will bear the expenses incurred by engaging RMS. RMS will be compensated at $200 per hour. RMS will also be reimbursed for reasonable out-of-pocket expenses incurred. James L. Cashin, partner in RSM US LLP, assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtors and their estates. RMS may be reached at: James L. Cashin 80 City Square Boston, MA 02129 Tel: +1 617.912.9000 Fax: +1 617.912.9001 About Cosi Inc. Cosi, Inc., is an international fast-casual restaurant company featuring its crackly-crust flatbread 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. The company 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 and its subsidiaries 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; DLA Piper LLP (US) as special counsel; The O'Connor Group as financial consultant; BDO USA, LLP as auditor and accountant; and Randy Kominsky of Alliance for Financial Growth, Inc., as chief restructuring officer. The Office of the U.S. Trustee appointed an official committee of unsecured creditors. The committee is represented by Lee Harrington, Esq., at Nixon Peabody LLP. Deloitte Financial Advisory Services LLP serves as its financial advisor. COSI INC: Terminates Registration of Common Stock ------------------------------------------------- The U.S. Bankruptcy Court for the District of Massachusetts (Eastern Division) entered on Feb. 15, 2017, a final order authorizing Cosi, Inc., et al., to deregister Cosi, Inc. Common Stock. On the same date, Cosi filed a Form 15 with the Securities and Exchange Commission notifying the termination of registration of its common stock ($.01 par value) under Section 12(g) of the Securities Exchange Act of 1934. About Cosi Inc. Cosi, Inc., is an international fast-casual restaurant company featuring its crackly-crust flatbread 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. The company 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". Prior to the petition date, the Debtors had 72 debtor-owned locations and 35 franchised locations and employed 1,555 people. Cosi and its subsidiaries 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. Cosi filed a Chapter 11 plan of reorganization, which proposes to pay general unsecured creditors 15.4% to 19.2% of their claims, according to a TCR report dated Feb. 16, 2017. The Debtors tapped Joseph H. Baldiga, Esq. and Paul W. Carey, Esq., at Mirick, O'Connell, DeMallie & Lougee, LLP, as counsel; DLA Piper LLP (US) as special counsel; The O'Connor Group as financial consultant; BDO USA, LLP as auditor and accountant; and Randy Kominsky of Alliance for Financial Growth, Inc., as chief restructuring officer. The Office of the U.S. Trustee appointed an official committee of unsecured creditors. The committee is represented by Lee Harrington, Esq., at Nixon Peabody LLP. Deloitte Financial Advisory Services LLP serves as its financial advisor. CYTORI THERAPEUTICS: Closes Acquisition of Azaya Therapeutics ------------------------------------------------------------- Cytori Therapeutics, Inc., completed on Feb. 15, 2017, its previously announced acquisition from Azaya Therapeutics, Inc. of substantially all of the assets of Azaya and the assumption of certain of liabilities of Azaya, pursuant to an Asset Purchase Agreement with Azaya, dated Jan. 16, 2017. Pursuant to the Acquisition, the Company has acquired the rights, title and interest in and to (i) Azaya's ATI-0918 drug candidate, a generic bioequivalent formulation of DOXIL/CAELYX, a chemotherapy drug that is a liposomal encapsulation of doxorubicin; (ii) Azaya's ATI-1123 drug candidate, a liposomal formulation of docetaxel; and (iii) certain equipment, inventory and other assets necessary to develop, manufacture, test and validate ATI-0918 and ATI-1123. Under the terms of the Purchase Agreement, at the closing of the Acquisition the Company (i) issued 1,173,241 of shares of its common stock, par value, $0.001 per share, in Azaya's name, (A) 879,931 of which will be delivered to Azaya promptly after the Closing, and (B) 293,310 of which will be deposited into a 15-month escrow pursuant to a standard escrow agreement; and (ii) assumed the obligation to pay approximately $2.0 million of Azaya's existing trade payables, which payments the Company intends to make at or within 30 days after the Closing. The price per Share was $1.7047, which price was equal to the volume weighted average closing price of the Shares on the Nasdaq Capital Market over the 10 consecutive trading days ending on the trading date immediately prior to the date of the Closing Date. Pursuant to the Purchase Agreement, the Company will use best efforts to file a registration statement covering the resale of the Shares issued to Azaya within 30 days of the Closing Date, and use commercially reasonable efforts to cause such registration statement to be declared effective as promptly as practicable following the filing. Azaya has agreed to abide by certain weekly and monthly sale/transfer volume limitations with respect to selling the Shares following their registration. In addition, as of the Closing Date, the Company assumed obligations to: (i) pay Azaya fixed commercialization milestone payments of up to $16.3 million in the aggregate, based upon achievement of certain net sales milestones for ATI-0918; (ii) make certain earn-out payments to Azata equal to a mid single-digit percentage of net sales of ATI-0918; and (iii) make certain earn-out payments to Azaya equal to a low single-digit percentage of net sales of any product, including ATI-1123, that practices a claim in the related patent assigned by Azaya to the Company. The Company's aggregate earn-out payment obligations to Azaya from global net sales of both ATI-0918 and any Patented Product will not exceed $100 million. Further, the Purchase Agreement provides that if the Company enters into certain assignments, licenses or other transfers of rights to a Patented Product or the ATI-1123 Patent, the Company will pay Azaya a percentage in the low to mid teens of the consideration received by the Company, provided, that the Company's aggregate payment obligation to Azaya for any such assignment, license or other transfer of rights will not exceed $50 million. If the Company or its successors, sublicensees or transferees sells a competing product to ATI-0918 at any time prior to satisfaction of the Earn-Out Cap, other than because ATI-0918 fails to receive marketing authorization from the European Medicines Agency within a certain period of time or fails to generate a minimum threshold of net sales within a pre-determined amount of time, then 50% of the net sales of such competing product would be deemed to be net sales of ATI-0918 under the Purchase Agreement for purposes of calculating commercialization milestone payments and earn-out payments. The Company has agreed to, and has agreed to require that any successors, sublicensees or transferees, use commercially reasonable efforts to develop and commercialize ATI-0918 and any Patented Product. Both the Company and Azaya agreed to customary representations, warranties and covenants in the Purchase Agreement. Each party also agreed to customary indemnification obligations, provided, that Azaya's maximum liability to the Company for breaches of Azaya's representations and warranties in the Purchase Agreement and any ancillary agreements entered into in connection therewith, is limited to $3.9 million, subject to limited exceptions. The Company entered into a five-year lease for Azaya's facility located in San Antonio, Texas that became effective on the Closing Date. The lease represents an initial annual base rent obligation of approximately $93,000. Prior to the Acquisition, the Company had no material relationships with Azaya or its affiliates. About Cytori Based in San Diego, California, Cytori Therapeutics (NASDAQ: CYTX) -- http://www.cytori.com/-- is an emerging leader in providing patients and physicians around the world with medical technologies, which harness the potential of adult regenerative cells from adipose tissue. The Company's StemSource(R) product line is sold globally for cell banking and research applications. Cytori reported a net loss allocable to common stockholders of $19.4 million on $4.83 million of product revenues for the year ended Dec. 31, 2015, compared to a net loss allocable to common stockholders of $38.5 million on $4.95 million of product revenues for the year ended Dec. 31, 2015. As of Sept. 30, 2016, Cytori had $36.84 million in total assets, $23.17 million in total liabilities and $13.67 million in total stockholders' equity. KPMG LLP, in San Diego, California, issued a "going concern" qualification on the consolidated financial statements for the year ended Dec. 31, 2015, citing that the Company's recurring losses from operations and liquidity position raises substantial doubt about its ability to continue as a going concern. DELCATH SYSTEMS: Fails to Comply with NASDAQ Bid Price Rule ----------------------------------------------------------- Delcath Systems, Inc., received a notification letter from The NASDAQ Stock Market on Feb. 13, 2017, advising the Company that for 30 consecutive trading days preceding the date of the Notice, the bid price of the Company's common stock had closed below the $1.00 per share minimum required for continued listing on The NASDAQ Capital Market pursuant to NASDAQ Marketplace Rule 5550(a)(2). The Notice has no effect on the listing of the Company's common stock at this time and the Company's common stock will continue to trade on the NASDAQ Capital Market under the symbol "DCTH." The Notice also stated that the Company will be provided 180 calendar days, or until Aug. 14, 2017, to regain compliance with the Minimum Bid Price Rule. To do so, the bid price of the Company's common stock must close at or above $1.00 per share for a minimum of ten consecutive business days prior to that date. If, by Aug. 14, 2017, the Company cannot demonstrate compliance with Marketplace Rule 5550(a)(2), then the NASDAQ staff will determine whether or not the Company meets The NASDAQ Capital Market initial listing criteria set forth in NASDAQ Marketplace Rule 5550, except for the bid price requirement. If the Company meets the initial listing criteria (with the exception of the bid price requirement) and provides written notice of its intention to cure the deficiency during an additional 180 calendar day compliance period, the NASDAQ staff will notify the Company that it has been granted such an additional compliance period. If the Company is not eligible for the second compliance period, the NASDAQ staff will provide written notice that the Company's securities will be delisted. At that time, the Company may appeal the NASDAQ staff's determination to delist its securities to a Listing Qualifications Panel. Meanwhile, Delcath furnished the Securities and Exchange Commission a disclosure of information contained in an investor presentation to be used by the Company at various meetings. The Company expressly disclaims any obligation to update or revise any of the information contained in the Presentation. This information may be amended or updated at any time and from time to time through another Current Report on Form 8-K or other means. A copy of the Presentation is available for free at: https://is.gd/gn03d0 About Delcath Delcath Systems, Inc. is an interventional oncology Company focused on the treatment of primary and metastatic liver cancers. The Company's investigational product -- Melphalan Hydrochloride for Injection for use with the Delcath Hepatic Delivery System (Melphalan/HDS) -- is designed to administer high-dose chemotherapy to the liver while controlling systemic exposure and associated side effects. The Company has commenced a global Phase 3 FOCUS clinical trial for Patients with Hepatic Dominant Ocular Melanoma (OM) and a global Phase 2 clinical trial in Europe and the U.S. to investigate the Melphalan/HDS system for the treatment of primary liver cancer (HCC) and intrahepatic cholangiocarcinoma (ICC). Melphalan/HDS has not been approved by the U.S. Food & Drug Administration (FDA) for sale in the U.S. In Europe, its system has been commercially available since 2012 under the trade name Delcath Hepatic CHEMOSAT Delivery System for Melphalan (CHEMOSAT), where it has been used at major medical centers to treat a wide range of cancers of the liver. Delcath reported a net loss of $14.7 million in 2015, a net loss of $17.4 million in 2014 and a net loss of $30.3 million in 2013. As of Sept. 30, 2016, Delcath had $36.98 million in total assets, $32.49 million in total liabilities and $4.48 million in total stockholders' equity. Grant Thornton LLP, in New York, New York, issued a "going concern" qualification on the consolidated financial statements for the year ended Dec. 31, 2015, citing that the Company has incurred recurring losses from operations and as of Dec. 31, 2015, has an accumulated deficit of $261 million. These conditions raise substantial doubt about the Company's ability to continue as a going concern. EM LODGINGS: Hires First Hospitality as Management Company ---------------------------------------------------------- EM Lodgings, LLC, seeks authority from the U.S. Bankruptcy Court for the Central District of Illinois to employ First Hospitality Group, Inc. as management company to the Debtor. EM Lodgings requires First Hospitality to manage the Debtor's hotel located at 200 Eastlight Court, East Peoria, IL 61611. First Hospitality will be paid at the hourly rate of $60. First Hospitality will also be paid a basic management fee of 2.65% of the Adjusted Gross Revenue, per month, and an incentive management fee of 5% of the Net Operating Income for the fiscal year to date. First Hospitality will also be reimbursed for reasonable out-of-pocket expenses incurred. Robert J. Habeeb, member of First Hospitality Group, 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. First Hospitality can be reached at: Robert J. Habeeb FIRST HOSPITALITY GROUP, INC. 10275 W Higgins Rd Rosemont, IL 60018 Tel: (847) 299-9040 About EM Lodgings EM Lodgings L.L.C. d/b/a Fairfield Inn & Suites East Peoria filed a Chapter 11 petition (Bankr. C.D. Ill. Case No. 17-80150), on February 6, 2017. The petition was signed by Gary E. Matthews, manager. The case is assigned to Judge Thomas L. Perkins. The Debtor is represented by Sumner Bourne, Esq., at Rafool, Bourne & Shelby, P.C. At the time of filing, the Debtor had both assets and liabilities estimated at $1 million to $10 million each. ENID LAKESIDE: Hires Gambrell & Associates as Counsel ----------------------------------------------------- Enid Lakeside Grocery, LLC, seeks authority from the U.S. Bankruptcy Court for the Northern District of Mississippi to employ Gambrell & Associates, PLLC, as its counsel. Enid Lakeside requires Gambrell & Associates to: a. consult with any trustee or any committee concerning the administration of the case; b. investigate the acts, conduct, assets, liabilities, and financial condition of the Debtor, the operation of the Debtor's business and the desirability of the continuance of such business, and any other matter relevant to the case or to the formulation of the plan; c. formulate a plan; and d. prepare any pleadings, motions, answers, notices, orders and reports that are required for the proper function of the Debtor. Gambrell & Associates will be paid at these hourly rates: Robert Gambrell $300 LeAnne Abbott $250 Bridgette Davis $200 Paralegal $100 Gambrell & Associates will also be reimbursed for reasonable out-of-pocket expenses incurred. Gambrell & Associates will be paid a retainer in the amount of $5,083. Robert Gambrell, member of Gambrell & Associates, 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. Gambrell & Associates can be reached at: Robert Gambrell, Esq. GAMBRELL & ASSOCIATES, PLLC 101 Ricky D. Britt Sr. Blvd Oxford, MS 38655 Tel: (662) 281-8800 About Enid Lakeside Grocery Enid Lakeside Grocery, LLC, filed a Chapter 11 bankruptcy petition (Bankr. N.D. Miss. Case No. 17-10248) on Jan. 25, 2017, disclosing under $1 million in both assets and liabilities. The Debtor is represented by Robert Gambrell, Esq., at Gambrell & Associates, PLLC. FANNIE MAE & FREDDIE MAC: Some Investors Upbeat re D.C. Cir. Ruling ------------------------------------------------------------------- A long-awaited ruling was released Feb. 21, 2017, in Perry v. Mnuchin, No. 14-5243 (D.C. Cir.), giving further judicial guidance to Fannie Mae and Freddie Mac preferred and common shareholders about their investments. At https://is.gd/fj7kgm a copy of the Slip Opinion is available at no charge. Tim Pagliara at Investors Unite said he was "pleased that the D.C. Circuit acknowledged that shareholders have direct contract rights which must be respected and we look forward to a resolution of those rights." Investors Unite is a coalition of over 1,400 individual Fannie Mae and Freddie Mac shareholders from all walks of life. Josh Angel, Esq., at Herrick Feinstein LLP, wasn't surprised by the D.C. Circuit saying Fannie, Freddie, FHFA and Treasury can't sidestep shareholders' contract claims. "Read my Perfidy paper," Mr. Angel said, referring to his paper posted at http://gselinks.com/pdf/Govt_Perfidy_Angel.pdf While cautioning investors that how and when Fannie and Freddie's conservatorship proceedings will be resolved is far from certain, one GWSE investor reminded us that Fannie and Freddie's businesses are part of the backbone of the U.S. mortgage industry and their the businesses are profitable. Bill Ackman at Pershing Square Capital Management -- the GSEs' largest common shareholders -- has previously commented publicly that it's rare to find troubled companies that are increasing in value every quarter. "There are multiple catalysts," an investor we talked to told us, "including other lawsuits still pending as well as the new administration potentially coming up with a plan to relieve the company from government ownership and returning it to shareholders." For those who haven't seen it elsewhere, here's the shortest version of the D.C. Circuit's decision one of our editors circulated his short list of GSE enthusiasts yesterday: "[C]ontract-based claims regarding liquidation preferences and dividend rights," the three-judge panel directs, "are remanded to the district court for further proceedings." Opinion at 5. The D.C. Circuit sees "no need to remand the claims for the district court to consider a fuller administrative record." Id. at 33, n. 12. The class plaintiffs secured the D.C. Circuit's permission to ask Judge Lamberth for his permission to "amend the[ir] complaint to add" new "direct fiduciary breach claims regarding the Fannie Mae Third Amendment." Id. at 61. The D.C. Circuit instructs Judge Lamberth to "evaluate . . . under the correct legal standard . . . whether the Third Amendment violated the reasonable expectations of the parties at the various times the class plaintiffs purchased their shares." Id. at 68. Send an e-mail message to peter@bankrupt.com introducing yourself if you'd like to be added to that short list. Today, the D.C. Circuit appears to have given its stamp of approval to: -- Congress enacting legislation that insulates an agency like the Federal Housing Finance Administration from judicial review; -- FHFA, in its role as the GSEs' conservator, giving the store away to the U.S. Treasury; and -- wholesale abrogation of most shareholder rights when our government finds that more convenient; which is fine, so long as our government ever doesn't want to solicit private capital for public purposes in any future deal, because investors' professionals with long-term institutional memories would counsel against those transactions. If our government has any intention of tapping private capital to build a wall, capitalize a bold initiative, or fund some superb program, those private funds won't be forthcoming so long as the principles articulated in Perry v. Mnuchin are the law of the land. About Fannie Mae and Freddie Mac Federal National Mortgage Association (OTCQB: FNMA), commonly known as Fannie Mae -- http://www.FannieMae.com/-- is a government-sponsored enterprise (GSE) that was chartered by U.S. Congress in 1938 to support liquidity, stability and affordability in the secondary mortgage market, where existing mortgage-related assets are purchased and sold. A brother organization of Fannie Mae is the Federal Home Loan Mortgage Corporation (FHLMC), better known as Freddie Mac. Freddie Mac (OTCBB: FMCC) -- http://www.FreddieMac.com/-- was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. During the time of the subprime mortgage crisis, on Sept. 6, 2008, Fannie Mae and Freddie Mac were placed into conservatorship by the U.S. Treasury. The Treasury committed to invest up to $200 billion in preferred stock and extend credit through 2009 to keep the GSEs solvent and operating. Both GSEs are still operating under the conservatorship of the Federal Housing Finance Agency (FHFA). In exchange for future support and capital investments of up to $100 billion in each GSE, each GSE agreed to issue to the Treasury (i) $1 billion of senior preferred stock, with a 10% coupon, without cost to the Treasury and (ii) common stock warrants representing an ownership stake of 79.9%, at an exercise price of one-thousandth of a U.S. cent ($0.00001) per share, and with a warrant duration of 20 years. Financial Results As of Sept. 30, 2016, Fannie Mae had $3.25 trillion in total assets, $3.25 trillion in total liabilities and $4.17 billion in total equity. As of Sept. 30, 2016, Freddie Mac had $2.015 trillion in total assets, $2.011 trillion in total liabilities and $3.510 billion in total equity. For the nine months ended Sept. 30, 2016, Fannie Mae reported net income of $7.27 billion on $79.88 billion of total interest income compared with net income of $8.48 billion on $82.07 billion of total interest income for the nine months ended Sept. 30, 2015. For the nine months ended Sept. 30, 2016, Freddie Mac reported net income of $2.968 billion on $49.16 billion of total interest income compared with net income of $4.218 billion on $50.21 billion of total interest income for the nine months ended Sept. 30, 2015. FOLTS HOME: Selling Nursing Home Facilities to Upstate for $9.5M ---------------------------------------------------------------- Folts Home and Folts Adult Home, Inc., have sought protection under Chapter 11 of the Bankruptcy Code in order to implement a sale of their nursing home and adult home facilities as going concerns pursuant to Section 363 of the Bankruptcy Code and to address their numerous significant pre-receivership claims. Each of the Debtors filed a voluntary petition in the U.S. Bankruptcy Court for the Northern District of New York on Feb. 16, 2017. The Debtors are seeking joint administration of their cases under the Lead Case No. 17-60139, before Judge Diane Davis. Folts Home is a New York not-for-profit corporation and the owner of a 163-bed long-term residential health care and rehabilitation facility located at 100-122 North Washington Street, Herkimer, New York. FAH, also known as Folts-Claxton, is a New York not-for-profit corporation and the owner of an 80-bed adult residential center that was constructed in 1998 and is located at 104 North Washington Street, Herkimer, New York. Folts Home currently has 218 active employees while FAH has 22. "The Debtors commenced the Chapter 11 cases in light of their financial inability to continue operating the Facilities, the fact that they have encountered operating losses since 2011, and their desire to sell the Facilities to a qualified purchaser," said Anthony E. Piana, DDS, the chairman and a member of the Board of Directors of Folts Home and the secretary and a member of the Board of Directors of FAH, in an affidavit filed with the Court. Mr. Piana related that the Debtors were left in financial distress as a result of the "irregular financial dealings and mismanagement" of their former Chief Executive Officer Ralph Reid and Chief Operating Officer Ernest Orts. The irregularities were discovered in late September 2012 which led to the dismissal of both Mr. Reid and Mr. Orts. A week prior to the Petition Date, the Debtors executed an asset purchase agreement with Upstate Service Group, LLC pursuant to which Upstate, as stalking horse bidder, will purchase substantially all of the Debtors' assets (including the Facilities), for at least $9,500,000, subject to higher and better offers. Upstate had acted as receiver of the Debtors' Facilities pursuant to an order issued by the New York State Department of Health on Oct. 1, 2013. Upstate was selected to act as the receiver for both Facilities, primarily due to its interest in purchasing the Facilities and continuing the Debtors' mission of providing skilled nursing care in the Herkimer area. The Upstate receiverships terminated on Feb. 13, 2015, as the parties were unable to reach a satisfactory agreement concerning the purchase terms. In Mid-2016, Upstate renewed its interest in acquiring the Facilities as The HomeLife Companies, Inc. of Delaware, Ohio, the receiver currently operating Folts, indicated to the Debtors that it will be unable to close the proposed purchase under the April 17, 2014, APA by March 2, 2017, which results in the termination of the HomeLife APA. As of the Petition Date, there are two categories of creditor claims associated with the Facilities: (i) the unpaid claims accrued by Folts Home and FAH that arose prior to the commencement of the receiverships on Oct. 1, 2013 and (ii) the claims accrued by HomeLife in its name in accordance with the terms of the HomeLife Receivership Agreements. According to Court papers, the Pre-Receivership Claims include the two United States Department of Housing and Urban Development mortgages totaling $15,498,899, liabilities to taxing authorities aggregating $1,000,000, unpaid cash receipts assessments and recoupment claims owed to the DOH totaling $3,700,000 and trade vendor claims totaling $2,000,000. The HomeLife Liabilities currently total $285,902 on behalf of Folts Home and $3,680 on behalf of FAH. The Debtors anticipate that HomeLife will continue to pay the HomeLife Liabilities in the ordinary course of business using the receivables generated by its receiverships and collected in connection with the operation of the Facilities. The Debtors will treat the Pre- Receivership Claims in context of their Chapter 11 cases. To avoid the significant risks of resignations and of discontent or loss of morale among essential employees, and in view of the priority awarded to wage claims, the Debtors seek authority to pay prepetition wages, salaries and benefits. The Debtors said they require the continued service of their employees in order to ensure that the continuity and quality of their business operations will not be threatened and so that they may continue, without unnecessary interruption, their efforts to achieve a successful sale of the Facilities as going concerns. Bond, Schoeneck & King, PLLC serves as attorneys to the Debtors. FORBES ENERGY: Charles Forbes Reports 12.3% Stake as of Dec. 31 --------------------------------------------------------------- Charles C. Forbes, Jr. disclosed in a Schedule 13G filed with the Securities and Exchange Commission that as of Dec. 31, 2016, he beneficially owns 2,724,199 shares of common stock of Forbes Energy Services Ltd. All shares of common stock beneficially owned Mr. Forbes represent 12.3% of the outstanding shares of common stock of Forbes Energy based on 22,214,855 shares outstanding as of Nov. 9, 2016, per the the Company's quarterly report on Form 10-Q filed on Nov. 14, 2016. Mr. Forbes has sole power to vote or to direct the vote of 2,724,199 shares of common stock, sole power to dispose or to direct the disposition of 2,724,199 shares of common stock, shared power to vote or to direct the vote of no shares of common stock and shared power to dispose or to direct the disposition of no shares of common stock. A full-text copy of the regulatory filing is available at: https://is.gd/4SFtZZ 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. Forbes Energy Services Ltd. filed voluntary petitions for reorganization under chapter 11 of the United States Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 17-20023) on Jan. 22, 2017, for itself and its principal subsidiaries pursuant to the terms of the previously disclosed Restructuring Support Agreement with certain holders of the Company's 9% senior unsecured notes due 2019. The Debtors tapped Pachulski Stang Ziehl & Jones LLP as lead counsel, and Snow Spence Green LLP as local counsel. Alvarez & Marsal Holdings, LLC serves as the Debtors' financial advisors. Jefferies LLC serves as the Debtors' investment bankers. The Debtors' corporate and securities counsel is Winstead PC. Kurtzman Carson Consultants LLC serves as the Debtors' solicitation and balloting consultants. * * * Judge David R. Jones will hold a hearing on March 8, 2017, at 10:00 a.m. (prevailing Central Time) to consider the adequacy of the disclosure statement explaining the Debtors' prepackaged Chapter 11 plan. FORBES ENERGY: John Crisp Has 6.1% Equity Stake as of Dec. 31 ------------------------------------------------------------- John E. Crisp disclosed in a regulatory filing with the Securities and Exchange Commission that as of Dec. 31, 2016, he beneficially owns 1,362,324 shares of common stock of Forbes Energy Services Ltd. representing 6.1 percent based on 22,214,855 shares outstanding as of Nov. 9, 2016, per the Forbes Energy's quarterly report on Form 10-Q filed on Nov. 14, 2016. Mr. Crisp has sole power to vote or to direct the vote of 1,362,324 shares of common stock, sole power to dispose or to direct the disposition of 1,362,324 shares of common stock, shared power to vote or to direct the vote of no shares of common stock and shared power to dispose or to direct the disposition of no shares of common stock. A full-text copy of the regulatory filing is available at: https://is.gd/nJfMIg 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. Forbes Energy Services Ltd. filed voluntary petitions for reorganization under chapter 11 of the United States Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 17-20023) on Jan. 22, 2017, for itself and its principal subsidiaries pursuant to the terms of the previously disclosed Restructuring Support Agreement with certain holders of the Company's 9% senior unsecured notes due 2019. The Debtors tapped Pachulski Stang Ziehl & Jones LLP as lead counsel, and Snow Spence Green LLP as local counsel. Alvarez & Marsal Holdings, LLC serves as the Debtors' financial advisors. Jefferies LLC serves as the Debtors' investment bankers. The Debtors' corporate and securities counsel is Winstead PC. Kurtzman Carson Consultants LLC serves as the Debtors' solicitation and balloting consultants. * * * Judge David R. Jones will hold a hearing on March 8, 2017, at 10:00 a.m. (prevailing Central Time) to consider the adequacy of the disclosure statement explaining the Debtors' prepackaged Chapter 11 plan. FREESTONE RESOURCES: Needs More Time to File Dec. 31 Form 10-Q -------------------------------------------------------------- Freestone Resources, Inc. was unable to file its quarterly report on Form 10-Q for the period ended Dec. 31, 2016 in a timely manner because the Company was not able to complete its financial statements without unreasonable effort or expense, according to a Form 12b-25 filing with the Securities and Exchange Commission. About Freestone Resources, Inc. Freestone Resources, Inc., a Nevada corporation, is an oil and gas technology development company that is actively developing and marketing technologies and solvents designed to benefit various sectors in the oil and gas industry. The Company has re-launched its Petrozene solvent after developing a new and improved formula. Petrozene is primarily used to dissolve paraffin buildup, and it is primarily used for pipelines, oil storage tanks, oil sludge build up, de-emulsification, well treatment, as a corrosion inhibitor and as a catalyst in opening up formations thereby aiding in oil production. Freestone reported a net loss attributable to Freestone of $2.38 million on $1.10 million of total revenue for the fiscal year ended June 30, 2016. As of Sept. 30, 2016, Freestone had $1.88 million in total assets, $2.19 million in total liabilities and a total deficit of $303,345. Heaton & Company, PLLC, in Farmington, Utah, issued a "going concern" qualification on the consolidated financial statements for the year ended June 30, 2016, citing that the Company has not generated sufficient cash flows to fund its business operations. These factors raise substantial doubt that the Company will be able to continue as a going concern. FREMAK INDUSTRIES: Hires Wilk Auslander as Bankruptcy Counsel ------------------------------------------------------------- Fremak Industries, Inc., seeks authority from the U.S. Bankruptcy Court for the Southern District of New York to employ Wilk Auslander LLP as bankruptcy counsel. Fremak Industries requires Wilk Auslander to: a. take all necessary action to protect and preserve the bankruptcy estate of the Debtor, including the prosecution of actions on the Debtor's and the estate's behalf, the defense of any actions commenced against the Debtor, the negotiation of disputes in which the Debtor is involved, and the preparation of objections to claims filed against the Debtor's estate; b. provide legal advice with respect to the Debtor's powers and duties as a debtor in possession in the continued operation of its business and management of its property; c. negotiate, prepare and pursue confirmation of a plan and approval of a disclosure statement; d. prepare on behalf of the Debtor, as debtors in possession, necessary motions, applications, answers, orders, reports, and other legal papers in connection with the administration of the Debtor's estate; e. appear in court and to protect the interest of the Debtor before the Court. Wilk Auslander will be paid at these hourly rates: Partners $525 to $800 Of Counsel $445 to $595 Associates $285 to $495 Paraprofessionals $250 to $305 Wilk Auslander will also be reimbursed for reasonable out-of-pocket expenses incurred. David L. Barrack, member of Wilk Auslander 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. Wilk Auslander can be reached at: David L. Barrack, Esq. WILK AUSLANDER LLP 1515 Broadway, 43rd Floor New York, NY 10036 Tel: (212) 981-2300 About Fremak Industries, Inc. Fremak Industries, Inc., based in New York, filed a Chapter 11 bankruptcy petition (Bankr. S.D.N.Y. Case No. 15-11740) on July 1, 2015. The Hon. Sean H. Lane presides over the case. The petition was signed by Leon Goldenberg, president. In its petition, the Debtor estimated $1 million to $10 million in both assets and liabilities. The Debtor is currently acting as a debtor-in-possession pursuant to Section 1107 of the Bankruptcy Code. David L. Barrack, Esq., at Polsinelli PC, serves as the Debtor's counsel. On Oct. 21, 2016, Angela Tese-Milner, Esq., was appointed as examiner. FRESH ICE CREAM: Case Summary & 20 Largest Unsecured Creditors -------------------------------------------------------------- Debtor: The Fresh Ice Cream Company LLC dba Craft Collective dba Steve's Ice Cream c/o David Stein 278 6th Street, Apt. 3-B Brooklyn, NY 11215 Case No.: 17-40716 Chapter 11 Petition Date: February 17, 2017 Court: United States Bankruptcy Court Eastern District of New York (Brooklyn) Judge: Hon. Elizabeth S. Stong Debtor's Counsel: Jonathan S Pasternak, Esq. DELBELLO DONNELLAN WEINGARTEN WISE & WIEDERKEHR, LLP One North Lexington Avenu White Plains, NY 10601 Tel: (914) 681-0200 Fax: (914) 684-0288 E-mail: jpasternak@ddw-law.com Total Assets: $1.32 million Total Liabilities: $6.31 million The petition was signed by David Stein, managing member. A copy of the Debtor's list of 20 largest unsecured creditors is available for free at http://bankrupt.com/misc/nyeb17-40716.pdf FUNCTION(X) INC: Reports $2.77 Million Net Loss for Second Quarter ------------------------------------------------------------------ Function(x) Inc. reported a net loss of $2.77 million on $1.21 million of revenues for the three months ended Dec. 31, 2016, compared to a net loss of $44.69 million on $1.78 million of revenues for the three months ended Dec. 31, 2015. For the six months ended Dec. 31, 2016, the Company reported a net loss of $10.32 million on $1.87 million of revenues compared to a net loss of $58.10 million on $3.25 million of revenues for the same period a year ago. As of Dec. 31, 2016, Function(x) had $31.80 million in total assets, $27.94 million in total liabilities and $3.85 million in total stockholders' equity. Revenue for the three months ended Dec. 31, 2016, was $1,215,000, down from $1,782,000 for the three months ended Dec. 31, 2015. For the three months ended Dec. 31, 2016, revenue for the Company's Publishing Segment was $834,000, up 57.4% from $530,000 for the three months ended Dec. 31, 2015. Additionally, this represents a 125% increase above the $371,000 in Publishing Segment revenue posted last quarter. "The continued dramatic improvement in operating results, fueled by impressive growth in user engagement metrics, confirms that the plan we instituted at the beginning of this fiscal year is hitting on all cylinders," said Robert FX Sillerman, executive chairman and chief executive officer. "This growth is continuing, and we expect to magnify these results when we shift our focus to the Rant brand. Over the past six months, we have focused our efforts on growing Wetpaint user engagement and monetization; focus which has proven successful at Wetpaint. Applying this same methodology to Rant, and in the future to additional sites, should continue to grow and strengthen our publishing business." "I am confident that the recent successes of the business are just the beginning of what will be a very exciting period. I look forward to building upon this strong performance and coming up with new and innovative ways to make this the business all that we know it can be, a creative and innovative digital platform that is rivaled by none," said Brian Rosin, COO. Function(X), Inc. A full-text copy of the press release is available for free at: https://is.gd/HXvcAS 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. 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. GILLESPIE OFFICE: Hires Healey as Accounting Expert --------------------------------------------------- Gillespie Office and Systems Furniture, Inc., seeks authorization from the U.S. Bankruptcy Court for the District of Nevada to employ Paul M. Healey & Sons CPA, Ltd., as accounting expert. The Debtor requires Healey to provide expert testimony as needed, as well as provide it and its counsel assistance in the preparation and review of the financial projections associated with its Plan and Disclosure Statement. The Debtor will pay for Healey's services at these hourly rates: Paul Healey, CPA $195 Junior Professionals $100-$195 The Debtor will pay Healey a $5,000 retainer. Paul Healey, CPA, partner of Paul M. Healey & Sons CPA, Ltd., assured the Court that his 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. Healey may be reached at: Paul Healey, CPA Paul M. Healey & Sons CPA, Ltd. 91 South Emery Street Pahrump, NV 89048 Tel: 775-751-3133 Fax: 775-751-3131 E-mail: paul@healeyandsonscpas.com About Gillespie Office and Systems Furniture, Inc. Gillespie Office and Systems Furniture, Inc., does business as A&B Printing, located at 2908 South Highland Drive, Set. B, Las Vegas, Nevada. The Company has been providing printing and mailing services to customers in the Las Vegas since 1979. Gillespie Office and Systems Furniture filed a Chapter 11 bankruptcy petition (Bankr. D. Nev. Case No. 16-11943) on April 11, 2016. The petition was signed by Kathleen L. Gillespie, president. The Debtor estimated assets and liabilities at $500,001 to $1 million at the time of the filing. Morris, Polich & Purdy serves as bankruptcy counsel to the Debtor in place of the law firm of Larson and Zirzow, effective as of June 17, 2016. Levy Law, LLC serves as special counsel while Holland & Hart serves as insurance defense litigation counsel to the Debtor. Serl, Keefer, Welter CPAs, LLP has been tapped as accountant. HALEYVILLE LUMBER: Hires C. Taylor Crockett as Attorney ------------------------------------------------------- Haleyville Lumber & Supply Company, Inc., seeks authorization from the U.S. Bankruptcy Court for the Northern District of Alabama to employ C. Taylor Crockett, PC, as attorney for Debtor. The Debtor requires Crockett to: a. provide legal advice with respect to its powers and duties as Debtor-in-Possession in the continued management of its financial affairs and property; b. prepare on its behalf necessary schedules, lists, applications, motions, answers, orders, and reorganization papers as is or may become necessary; c. review all leases and other corporate papers and prepare any necessary motions to assume unexpired leases or executory contracts and assist in preparation of corporate authorizations and resolutions regarding Chapter 11 case; and d. perform any and all other legals services as may be necessary to achieve confirmation of a Chapter 11 Plan. The Debtor will compensate Crockett at $375 per hour. Crockett has received a retainer in the amount of $23,283 plus $1,717 filing fee. Crockett will also be reimbursed for reasonable out-of-pocket expenses incurred. C. Taylor Crockett, Esq., of C. Taylor Crockett, PC, assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtor and its estates. Crockett may be reached at: C. Taylor Crockett, Esq. C. Taylor Crockett, PC 2067 Columbiana Road Birmingham, AL 35216 Phone: +1 205-254-3500 About Haleyville Lumber & Supply Co., Inc. Haleyville Lumber & Supply Co., Inc. filed a Chapter 11 bankruptcy petition (Bankr. N.D.Ala. Case No. 17-70176) on January 31, 2017. C. Taylor Crockett, Esq., at C. Taylor Crockett, PC serves as bankruptcy counsel. The Debtor's assets and liabilities are both below $1 million. HD RETAIL: Hires Snow as Accountant ----------------------------------- HD Retail Repair, LLC, et al., seek authority from the U.S. Bankruptcy Court for the Northern District of Texas to employ Chandler Snow, CPA, as accountant. HD Retail requires Snow to: a. analyze the Debtor's financial position, assets, and liabilities; b. provide bookkeeping services as needed by the Debtors and prepare all necessary reports related thereto; c. assist with the preparation of the monthly operating reports; d. assist with the development of a plan of reorganization and disclosure statement; e. prepare a final report and accounting of the administration of the estate; f. prepare the Debtor's federal income tax return; and g. assist in such other accounting and financial matters as may be mutually agreed between the Debtors and Snow in connection with the Chapter 11 bankruptcy case. Snow will be paid at the hourly rate of $285. Snow will also be reimbursed for reasonable out-of-pocket expenses incurred. Chandler Snow, CPA, 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. Snow can be reached at: Chandler Snow 409 W 4th Street Suite 103 Weatherford, TX 76086 Tel: (817) 599-3069 About HD Retail Repair HD Retail Repair LLC provides facilities maintenance services to all Home Depot stores nationwide while Lopek Companies, LLC provides facilities maintenance services to local dealerships. HD Retail Repair and Lopek Companies, LLC filed Chapter 11 petitions (Bankr. N.D. Tex. Lead Case No. 16-34817) on Dec. 16, 2016. The petitions were signed by Kevin Loper, president. The cases are assigned to Judge Stacey G. Jernigan. At the time of the filing, HD Retail estimated assets of less than $50,000 and liabilities of less than $500,000. HEALTH CARE TEMPORARIES: Hires Corral Tran Singh as Counsel ----------------------------------------------------------- Health Care Temporaries, Inc., seeks authority from the U.S. Bankruptcy Court for the Southern District of Texas to employ Corral Tran Singh, LLP as counsel. The Debtor requires CTS to: a. analyze its financial situation, and render advice and assistance; b. provide it advice with respect to its rights, duties, and powers as a debtor in this case; c. represent it at all hearings and other proceedings; d. prepare and file of all appropriate petitions, schedules of assets and liabilities, statements of affairs, answers, motions and other legal papers as necessary to further its interests and objectives; e. represent it at any meeting of creditors and such other services as may be required during the course of the bankruptcy proceedings; f. represent it in all proceedings before the Court and in any other judicial or administrative proceeding where the rights of the Debtor may be litigated or otherwise affected; g. prepare and file of a Disclosure Statement and Chapter 11 Plan of Reorganization; h. assist it in analyzing the claims of the creditors and in negotiating with such creditors; and i. assist it in any matters relating to or arising out of the captioned case. CTS lawyers who will work on the Debtor's case and their hourly rates are: Susan Tran $300 Brendon Singh $325 Adam Corral $275 CTS has received a pre-petition retainer in the amount of $6,700, remitted on February 10, 2017, and has applied $4,983.00 towards prepetition attorneys' fees and expenses. CTS will also be reimbursed for reasonable out-of-pocket expenses incurred. Susan Tran, Esq., partner with the law firm Corral Tran Singh, 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. CTS may be reached at: Susan Tran, Esq. Adam Corral, Esq. Brendon Singh, Esq. Corral Tran Singh, LLP 1010 Lamar St., Suite 1160 Houston TX 77002 Tel No: (832) 975-7300 Fax No: (832) 975-7301 E-mail: susan.Tran@ctsattorneys.com About Health Care Temporaries Health Care Temporaries, Inc. filed a Chapter 11 bankruptcy petition (Bankr. S.D.Tex. Case No. 17-30919) on February 12, 2017. Susan Tran, Esq., at Corral Tran Singh, LLP, serves as bankruptcy counsel. The Debtor's assets and liabilities are both below $1 million. HMF GOLF: Hires Richar & Associates as Accountant ------------------------------------------------- HMF Golf Inc., seeks authority from the U.S. Bankruptcy Court for the Western District of Pennsylvania to employ Richar & Associates, as accountant to the Debtor. HMF Golf requires Richar & Associates to: a. perform advisory services; b. perform all bookkeeping, accounting and payroll services; c. continue to prepare the monthly operating reports; and d. prepare the Debtor's federal, state, and local income tax returns. Richar & Associates will be paid $100 per week for payroll services, and $2,200 per week for the other services. Richar & Associates will also be reimbursed for reasonable out-of-pocket expenses incurred. On the date of filing of the bankruptcy case, Richar & Associates maintained an unsecured claim against Debtor's related entity, WGC, Inc., in the amount of $4,385 for unpaid professional services. It has waived that prepetition claim. Ann Richar, member of Richar & Associates, 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. Richar can be reached at: Ann Richar RICHAR & ASSOCIATES 3249 PA-257 Seneca, PA 16346 Tel: (814) 670-0235 E-mail: ann@richarcpa.com. About HMF Golf Inc. HMF Golf, Inc., filed a Chapter 11 petition (Bankr. W.D. Pa. Case No. 16-10346) on April 13, 2016, disclosing under $1 million in both assets and liabilities. The petition was signed by Todd McLaughlin, president. The Debtor is represented by Brian C. Thompson, Esq., at Thompson Law Group, P.C. HOMER CITY GENERATION: Court Confirms Chapter 11 Plan ----------------------------------------------------- The Hon. Mary F. Walrath of the U.S. Bankruptcy Court for the District of Delaware has confirmed Homer City Generation, L.P.'s Chapter 11 plan of reorganization. The consideration necessary for the Reorganized Debtor to make payments pursuant to the Plan will be obtained from existing cash balances of the Debtor or the proceeds of the exit facility. Homer City or Reorganized Homer City is authorized to issue the Reorganized Homer City interests to New HCG GP LL and New Holdco in accordance with the terms of the Plan and the amended organizational documents without the need for any further limited partnership or limited liability company action and without action by holders of claims or interests. On the Effective Date, the Reorganized Homer City Interests will be owned by New HCG GP LLC and New Holdco in accordance with the amended organization documents. On the Effective Date, New Holdco is authorized to issue the NewCo Interests to the holders of allowed notes claims, subject to the applicable NewCo Agreement without the need for any partnership action and without action by holders of claims or interests. A copy of the court order is available at: http://bankrupt.com/misc/deb17-10086-157.pdf As reported by the Troubled Company Reporter on Feb. 17, 2017, the Debtor responded to the U.S. Trustee's and Cleveland Brothers Equipment Co.'s objections to the prepackaged plan of reorganization. Alex Wolf, writing for Bankruptcy Law360, reported that the Debtor said the third-party releases included in its Plan are necessary. 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, serve as legal advisors to the ad hoc group of noteholders and Houlihan Lokey serve as the financial advisor to the ad hoc group of noteholders. HOMER CITY: Can Assume Restructuring Support Agreement ------------------------------------------------------ BankruptcyData.com reported that the U.S. Bankruptcy Court approved Homer City Generation's motion for authority to assume a restructuring support agreement and granting related relief. As previously reported, "In light of the conclusion of the sales process without a transaction and Homer City's unsustainable debt, Homer City, certain Senior Noteholders (collectively, the 'Consenting Noteholders'), and certain affiliates of General Electric Company (the 'GE Parties,' and collectively with Homer City and the Consenting Noteholders, the 'Restructuring Support Parties') focused their efforts on a standalone restructuring transaction (the "Restructuring Transaction") involving a debt-for-equity swap of the Notes and a transfer of ownership and financial management to the holders of those Notes, including the Consenting Noteholders. Through extensive negotiations, the Debtor built consensus around the terms of the Restructuring Transaction, which culminated in the execution of the Restructuring Support Agreement, dated as of January 9, 2017, (the 'Restructuring Support Agreement'), by and among Homer City, the GE Parties and the Consenting Noteholders. Significantly, the Restructuring Support Agreement has the broad support of the Consenting Noteholders and the GE Parties. Indeed, approximately 86% in principal amount of the Notes (including the approximately 16% of the Notes held by the GE Parties) - have signed on." 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, serve as legal advisors to the ad hoc group of noteholders and Houlihan Lokey serve as the financial advisor to the ad hoc group of noteholders. HORSEHEAD CORP: Dyson Capital, Raymond Cook Lead Shareholder Class ------------------------------------------------------------------ Martin O'Sullivan, writing for Bankruptcy Law360, reports that U.S. Magistrate Judge Christopher J. Burke on Feb. 14, 2017, appointed Dyson Capital Management Ltd. and investor Raymond Cook to head a proposed class of shareholders accusing Horsehead Corp. executives -- CEO James Hensler, CFO Robert Scherich and a senior vice president, Gregory Belland -- of covering up problems at a zinc facility, rejecting arguments from competing investors that they should be disqualified for having vouched for the value of the facility in its bankruptcy proceedings. Law360 relates that the investor group represented by Glancy Prongay & Murray LLP alleges in a lawsuit filed by investor Javier Soto in April 2016 pre-Chapter 11 omissions and misrepresentations about the value of the Company's new but troubled nickel and zinc plant in Mooresboro, North Carolina. According to Law360, investors John and Mary Anacker had claimed that during the Company's Chapter 11 proceedings, Mr. Cook and Dyson Capital -- who had the largest claim at about $453,000 -- submitted letters vouching for the veracity of company statements and accepted valuation estimates for the zinc facility completely at odds with the investor claims. Law360 quoted Judge Burke as saying, "To be sure, a main theme ... is that Horsehead's executives have made many allegedly false or misleading statements in the past. This does not mean that Cook and Dyson must assert that every statement the company has made -- particularly as to valuation statements made at the very end of the class period, when the Company filed for bankruptcy -- is false or misleading." Law360 explains that Horsehead Corp. and its parent company, Horsehead Holdings Co., were not defendants in the lawsuit because, as a result of their February 2016 Chapter 11 petitions, they are subject to an automatic litigation stay. Mr. Cook and Dyson Capital are represented by: Lionel Z. Glancy, Esq. Lesley F. Portnoy, Esq. GLANCY PRONGAY & MURRAY LLP 1925 Century Park East, Suite 2100 Los Angeles, CA 90067 Tel: (310) 201-9150 Toll-free: (888) 773-9224 E-mail: lglancy@glancylaw.com lportnoy@glancylaw.com -- and -- Sidney Liebesman, Esq. MONTGOMERY MCCRACKEN WALKER & RHOADS LLP 1105 North Market Street 15th floor Wilmington, DE 19801 Tel: (302) 504-7800 Fax: (302) 504-7820 E-mail: sliebesman@mmwr.com The Horsehead executives are represented by: Geoffrey G. Grivner, Esq. BUCHANAN INGERSOLL & ROONEY PC 919 North Market Street, Suite 1500 Wilmington, DE 19801-3046 Tel: (302) 552-4200 Fax: (302) 552-4295 E-mail: geoffrey.grivner@bipc.com IN Q ENTERPRISES: Hires Fuentes Law Office as Counsel ----------------------------------------------------- In Q Enterprises, LLC, seeks authority from the U.S. Bankruptcy Court for the District of Puerto Rico to employ Fuentes Law Offices, LLC, as its counsel. In Q Enterprises requires Fuentes to represent the Debtor in the Chapter 11 proceedings. Fuentes will be paid at the hourly rate of $250. Fuentes will also be reimbursed for reasonable out-of-pocket expenses incurred. Fuentes will be paid a retainer in the amount of $8,000. Alexis Fuentes Hernandez, member of Fuentes Law Offices, 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. Fuentes can be reached at: Alexis Fuentes Hernandez, Esq. FUENTES LAW OFFICES, LLC P.O. Box 9022726 San Juan, PR 00902-2726 Tel: (787) 722-5215 Fax: (787) 722-5206 E-mail: alex@fuentes-law.com About In Q Enterprises In Q Enterprises, LLC, filed a Chapter 11 bankruptcy petition (Bankr. D.P.R. Case No. 17-00650) on Feb. 1, 2017, disclosing under $1 million in assets and liabilities. The Debtor is represented by Alexis Fuentes Hernandez, Esq., at Fuentes Law Offices, LLC. KEMET CORP: BRC Partners Ceases to be 5% Shareholder ---------------------------------------------------- BRC Partners Opportunity Fund, LP disclosed in an amended Schedule 13G filed with the Securities and Exchange Commission that as of Dec. 31, 2016, it beneficially owned 1,523,205 shares of common stock of Kemet Corp. representing 3.28 percent of the shares outstanding. As of Dec. 31, 2016, B. Riley Capital Management, LLC beneficially owned 1,524,555 shares of Common Stock. BRCM, as the investment advisor and general partner of BPOF, may be deemed to beneficially own the 1,523,205 shares of Common Stock directly owned by BPOF. BRCM, as the investment advisor of certain Separately Managed Accounts, may be deemed to beneficially own the 1,350 shares of Common Stock directly owned by the SMA Accounts. B. Riley Financial, Inc., as the parent company of BRCM, may be deemed to beneficially own the aggregate of 1,524,555 shares of Common Stock owned by BRCM. As of Dec. 31, 2016, B. Riley & Co., LLC beneficially owned 16,028 shares of Common Stock. BRF, as the parent company of BRC, may be deemed to own the 16,028 shares of Common Stock directly owned by BRC. Effective Feb. 9, 2016, the delegation of authority granting Bryant R. Riley certain voting, dispositive and other investment powers with the respect to the securities held by BPOF, BRCM, and BRC was revoked by B. Riley Financial, Inc. Accordingly such voting, dispositive and other investment powers which were previously vested in Mr. Riley have reverted back to B. Riley Financial, Inc. Accordingly, B. Riley Financial, Inc. may be deemed to beneficially own the shares of Common Stock beneficially owned by BPOF, BRCM, and BRC. A full-text copy of the regulatory filing is available at: https://is.gd/cdpMKg 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 Dec. 31, 2016, Kemet Corporation had $662.5 million in total assets, $572.1 million in total liabilities and $90.44 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. LEGACY RESERVES: Baines Creek Holds 7.6% of Preferred Equity Units ------------------------------------------------------------------ In an amended Schedule 13G filed with the Securities and Exchange Commission, Baines Creek Capital, LLC disclosed that as of Dec. 31, 2016, it beneficially owns 546,350 Series B Preferred Equity Units of Legacy Reserves, LP representing 7.6 percent of the Units outstanding. Baines Creek Partners, L.P. also reported beneficial ownership of 478,264 Units, Kevin Tracy reported beneficial ownership of 1,205 Units and Brian Williams reported beneficial ownership of 66,881 Units. A full-text copy of the regulatory filing is available at: https://is.gd/qzjWTC About Legacy Reserves Headquartered in Midland, Texas, Legacy Reserves is focused on the acquisition and development of oil and natural gas properties primarily located in the Permian Basin, East Texas, Rocky Mountain and Mid-Continent regions of the United States. The Company's primary business objective has been to generate stable cash flows to allow it to make cash distributions to its unitholders and to support and increase quarterly cash distributions per unit over time through a combination of acquisitions of new properties and development of its existing oil and natural gas properties. Legacy Reserves incurred a net loss attributable to unitholders of $720.54 million in 2015, a net loss attributable to unitholders of $295.33 million in 2014 and a net loss attributable to unitholders of $35.27 million in 2013. As of Sept. 30, 2016, Legacy Reserves had $1.39 billion in total assets, $1.51 billion in total liabilities and a total partners' deficit of $118.95 million. * * * As of Sept. 30, 2016, S&P Global Ratings said that it lowered its corporate credit rating on Legacy Reserves L.P. to 'CCC' from 'B-'. The rating outlook is negative. The downgrade reflects S&P's expectation that the borrowing base on Legacy's revolving credit facility could be lowered substantially at its redetermination in October. Legacy Reserves carries a Caa3 corporate family rating from Moody's Investors Service. LEXEL IMAGING: Hires DelCotto Law Group as Attorney --------------------------------------------------- Lexel Imaging Systems Inc., seeks authority from the U.S. Bankruptcy Court for the Eastern District of Kentucky to employ DelCotto Law Group PLLC as attorney to the Debtor. Lexel Imaging requires DelCotto to: a. take all necessary action to protect and preserve the Estate of the Debtor, including the prosecution of actions on the Debtor's behalf, the defense of any actions commenced against the Debtor, negotiations concerning all litigation in which the Debtor is involved, and objections to claims filed against the Estate; b. prepare on behalf of the Debtor, as Debtor in Possession, necessary motions, applications, schedules, statements, answers, orders, reports, and papers in connection with the administration of the Estate herein; c. negotiate and prepare on behalf of the Debtor, a plan or plans of reorganization and all related documents; and d. perform all other necessary legal services in connection with the Chapter 11 case. DelCotto will be paid at these hourly rates: Attorney $230 to $450 Paralegal $150 DelCotto will be paid a retainer in the amount of $20,000. DelCotto will also be reimbursed for reasonable out-of-pocket expenses incurred. Jamie L. Harris, member of DelCotto Law Group, 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. DelCotto can be reached at: Jamie L. Harris, Esq. DELCOTTO LAW GROUP PLLC 200 North Upper Street Lexington, KY 40507 Tel: (859) 231-5800 Fax: (859) 281-1179 E-mail: jharris@dlgfirm.com About Lexel Imaging Systems Lexel Imaging Systems, Inc., based in Lexington, KY, filed a Chapter 11 petition (Bankr. E.D. Ky. Case No. 17-50240) on Feb. 10, 2017. The petition was signed by William Frohoff, president. Jamie L. Harris, Esq., at DelCotto Law Group PLLC, serves as bankruptcy counsel to the Debtor. In its petition, the Debtor estimated $1 million to $10 million in assets and $100,000 to $500,000 in liabilities. LIMITED STORES: Hilco Buying Goods for $875K -------------------------------------------- Limited Stores Co., LLC, and affiliates ask the U.S. Bankruptcy Court for the District of Delaware to authorize the sale of approximately 266,806 pieces of first quality goods owned by the Debtors and located at their e-commerce fulfillment center at 5389 East Provident Drive, Cincinnati, Ohio, to Hilco Wholesale Solutions, LLC, for a purchase price of $3.28 per unit, which is estimated to result in total proceeds of $875,124 (subject to adjustment). A hearing on the Motion is set for March 10, 2017 at 1:00 p.m. The objection deadline is March 3, 2017 at 4:00 p.m. Prior to the Petition Date, due to the Debtors' declining financial performance, the Debtors liquidated substantially all of their brick and mortar inventory, and ceased operations at and vacated the premises of all of their approximately 250 stores. In addition, prior to the Petition Date, the Debtors ceased operating their e-commerce business. Upon the cessation of their e-commerce operations, the Debtors were left with a significant amount of inventory at their fulfillment center. The Debtors have decided that monetizing the Goods is in their best interest as they require inflows of cash to manage their estate and successfully wind down their operations and the proceeds of the sale of the Goods is contemplated in the Debtors' budget supporting their debtor in possession financing facility. The Debtors' have determined that the value of the Goods is likely to deteriorate over time and the carry cost for such Goods would unnecessarily burden the estates. Given their need to monetize the Goods, the Debtors conducted a search and sought out and contacted potential buyers. The Debtors received 4 proposals and continued negotiation with such prospective purchasers after proposals were received. Through such arm's-length negotiations and multiple rounds of back and forth negotiations, the Debtors eventually agreed to enter into the Agreement with Buyer, dated as of Feb. 14, 2017, on the terms set forth therein. The Agreement represents the highest and best offer received by the Debtors that was capable of closing with the least amount of cost or delay. The Agreement obligates the Debtors, subject to Court approval, to sell the Goods to the Buyer for a purchase price of $3.28 per unit, which is estimated to result in total proceeds of $875,124 (subject to adjustment as set forth in the Agreement). The Debtors propose to sell the Goods free and clear of, inter alia, liens, claims, encumbrances, defenses (including, without limitation, rights of setoff and recoupment) and interests. A copy of the Agreement attached to the Motion is available for free at: http://bankrupt.com/misc/Limited_Stores_247_Sales.pdf The Debtors believe that the proposed sale properly maximizes value for their stakeholders while efficiently capitalizing on the Buyer's interest in purchasing the Goods. Moreover, the Debtors' estates will receive a direct cash influx from the Buyer by consummating the sale to support their continued orderly liquidation and wind down. Accordingly, the Debtors ask that the Court approve the proposed sale of Goods to the Buyer, and such other relief as is just and proper. About Limited Stores Limited Stores Company, LLC, et al., 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, Limited Stores expanded over the past five decades to become a household name throughout the United States for women's apparel. At its peak, Limited Stores 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 Web site at http://www.TheLimited.com/ Limited Stores Company, LLC, Limited Stores, LLC, and The Limited Stores GC, LLC, filed voluntary petitions under Chapter 11 of the Bankruptcy Code (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. The petitions were signed by Timothy D. Boates, authorized signatory. Limited Stores Company estimated $10 million to $50 million in assets and $100 million to $500 million in liabilities. The Debtors tapped Klehr Harrison Harvey Branzburg LLP as counsel; and Donlin, Recano & Company, Inc., as notice, claims and balloting agent. On Jan. 24, 2017, the Office of the U.S. Trustee appointed an official committee of unsecured creditors. Kelley Drye & Warren LLP is the proposed counsel to the Official Committee of Unsecured Creditors. LIMITED STORES: HiTech Assets Buying De Minimis Assets for $138K ---------------------------------------------------------------- Limited Stores Co., LLC, and affiliates filed with the U.S. Bankruptcy Court for the District of Delaware a notice of the proposed sale of de minimis assets to HiTech Assets, LLC, for $138,000. On Feb. 17, 2017, the Court approved an Order Establishing Procedures for De Minimis Asset Transactions ("Transaction Order"), whereby the Court authorized the Debtors to use, sell, transfer, or acquire certain non-core assets ("De Minimis Assets"). Pursuant to the Transaction Order, the Debtors propose to sell or acquire the De Minimis Assets set for in the Transaction Assets. A copy of the Transaction Assets attached to the Notice is available for free at: http://bankrupt.com/misc/Limited_Stores_250_Sales.pdf Pursuant to the Transaction Order, any recipient of the Notice may object to the proposed transaction within 7 calendar days of service of the Notice. Objections must be filed within 7 calendar days of service of the Notice to the proposed counsel to the Debtors, Klehr Harrison Harvey Branzburg LLP. The Purchaser can be reached at: HITECH ASSETS, LLC 401 N. Portland Ave. Oklahoma City, OK 73107 About Limited Stores Limited Stores Company, LLC, et al., 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, Limited Stores expanded over the past five decades to become a household name throughout the United States for women's apparel. At its peak, Limited Stores 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 Web site at http://www.TheLimited.com/ Limited Stores Company, LLC, Limited Stores, LLC, and The Limited Stores GC, LLC, filed voluntary petitions under Chapter 11 of the Bankruptcy Code (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. The petitions were signed by Timothy D. Boates, authorized signatory. Limited Stores Company estimated $10 million to $50 million in assets and $100 million to $500 million in liabilities. The Debtors tapped Klehr Harrison Harvey Branzburg LLP as counsel; and Donlin, Recano & Company, Inc., as notice, claims and balloting agent. On Jan. 24, 2017, the Office of the U.S. Trustee appointed an official committee of unsecured creditors. Kelley Drye & Warren LLP is the proposed counsel to the Official Committee of Unsecured Creditors. LOUISIANA MEDICAL: Case Moved to Eastern District of Louisiana -------------------------------------------------------------- Rick Archer, writing for Bankruptcy Law360, reports that the U.S. Bankruptcy Court for the District of Delaware on Feb. 14, 2017, transferred, at the behest of the Louisiana Department of Health and McKesson Technologies Inc., the bankruptcy proceedings of Louisiana Medical Center and Heart Hospital LLC to the Eastern District of Louisiana. As reported by the Troubled Company Reporter on Feb. 16, 2017, Jeff Montgomery, writing for Bankruptcy Law360, reported that Louisiana's health agency called for the transfer of the Chapter 11 case from Delaware to a home state court. According to Law360, regulators said they need better access while supervising the facility's planned closure. The Debtor's owners also wanted the transfer, Law360 relates. About Louisiana Medical LMCHH PCP LLC and Louisiana Medical Center and Heart Hospital, LLC, currently operate a state-of-the-art 213,000 square facility and two medical office buildings. Originally licensed for 58 beds in 2003, as a result of its physical and strategic expansion in 2007, the Hospital is now a full-service 132-bed acute care hospital with seven operating rooms, three catheterization laboratories, and a 24-hour heart attack intervention center dedicated to providing advanced medical treatment and compassionate care to patients and families throughout the North Shore area. LMCHH PCP and LHH sought bankruptcy protection in the U.S. Bankruptcy Court for the District of Delaware on Jan. 30, 2017. The Debtors are currently seeking joint administration of their Chapter 11 cases under the main case, 17-10201. The cases have been assigned to the Hon. Judge Laurie Selber Silverstein. LMCHH estimated assets in the range of $1 million to $10 million and liabilities of up to $500 million. LHH estimated assets in the range of $10 million to $50 million and liabilities of $100 million to $500 million. The Debtors have hired Young, Conaway, Stargatt & Taylor LLP as local counsel, Alston & Bird LLP as legal counsel, Solic Capital Advisors, LLC, as financial advisor and The Garden City Group, Inc., as claims and noticing agent. MANN REALTY: Hires Craig A. Diehl as Attorney --------------------------------------------- Mann Realty Associates, Inc., seeks authority from the U.S. Bankruptcy Court for the Middle District of Pennsylvania to employ the Law Office of Craig A. Diehl as its attorney. Mann Realty requires Diehl to: (a) advise the Debtor with respect to its rights, powers, duties and obligations as Debtor-in-Possession in the administration of this case and the management of its property; (b) prepare pleadings, applications and conduct examinations incidental to administration; (c) advise and represent the Debtor in connection with all applications, motions, or complaints for reclamation, adequate protection, sequestration, relief from stays, appointment of trustee or examiner, and all other similar matters; (d) develop the relationship of the status of Debtor-in- Possession to the claims of creditors in the proceedings; (e) advise and assist the Debtor-in-Possession in the formulation and presentation of a Plan and Disclosure Statement pursuant to Chapter 11 of the Bankruptcy Code and concerning any and all matters relating thereto; and (f) perform any and all other legal services incident and necessary herein. Diehl will be paid at these hourly rates: Attorney $260 Legal Assistants $150 Diehl will also be reimbursed for reasonable out-of-pocket expenses incurred. Craig A. Diehl, member of Law Office of Craig A. Diehl, 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. Diehl can be reached at: Craig A. Diehl, Esq. LAW OFFICE OF CRAIG A. DIEHL 3464 Trindle Road Camp Hill, PA 17011 Tel: (717)763-7613 About Mann Realty Associates Mann Realty Associates, Inc., filed a Chapter 11 bankruptcy petition (Bankr. M.D. Pa. Case No. 17-00080) on Jan. 10, 2017, disclosing under $1 million in both assets and liabilities. METCOM NETWORK: Hires ACT Financial as Accountant ------------------------------------------------- Metcom Network Services, Inc., seeks authority from the U.S. Bankruptcy Court for the Southern District of New York to employ ACT Financial & Tax Services, LLC, as accountant to the Debtor. The NYC Department of Finance filed a proof of claim herein in the aggregate sum of $629,811, comprised of two parts: $496,469 for CRT (corporate rent taxes) estimated to be due for the period 6/1/2009-5/31/2016, and $133,341 for general corporate taxes estimated to be due for the period 2002-2016. Metcom Network requires ACT Financial to prepare the Debtor's 2003-2015 tax returns in order to deal with the general corporate tax portion of NYC Department of Finance claim. ACT Financial will be paid the amount of $500 per year. ACT Financial will also be reimbursed for reasonable out-of-pocket expenses incurred. Cristina Andreana, member of ACT Financial & Tax Services, LLC, assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtor and its estates. ACT Financial can be reached at: Cristina Andreana ACT FINANCIAL & TAX SERVICES, LLC 992 High Ridge Road, 2nd Floor Stamford, CT 06905 Tel: (203) 327-5010 About Metcom Network Services Metcom Network Services, Inc. is a New York corporation, with its principal place of business at 60 Hudson Street, New York, NY, Suites 1001 and 2303. Metcom is owned 50% by Mark DuMoulin, Sr. and 50% by Susan BeckerDuMoulin. Metcom is in the business of telecommunications, building and local interconnection and engineering support, including the colocation of customer equipment. Metcom sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D.N.Y. Case No. 16-11870) on June 28, 2016. The petition was signed by Mark DuMoulin, Sr., president. The Debtor is represented by Neil H. Ackerman, Esq., at Ackerman Fox, LLP. At the time of the filing, the Debtor estimated its assets and liabilities at $1 million to $10 million. No trustee, examiner, or committee of creditors has been appointed in this case. MGQ INVESTMENTS: Hires Kasuri Byck as Attorney ---------------------------------------------- MGQ Investments & Development, Inc., seeks authority from the U.S. Bankruptcy Court for the District of New Jesey to employ Law Office of Kasuri Byck, LLC, as attorney. MGQ Investments requires Kasuri Byck to, among other things: a. counsel regarding the duties of the Debtor-in-possession, formulation of plan and disclosures; and b. prepare schedules, negotiate with creditors, creditor's meeting, initial Debtor interview, status conferences, confirmation of plan, and assist with reporting requirements. Kasuri Byck will be paid at these hourly rates: Attorney $425 Paralegals $225 Kasuri Byck will also be reimbursed for reasonable out-of-pocket expenses incurred. Harrison Ross Byck, member of Law Office of Kasuri Byck, 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 its estates. Kasuri Byck can be reached at: Harrison Ross Byck, Esq. LAW OFFICE OF KASURI BYCK, LLC 340 Route 1 North Edison, NJ 08817 Tel: (732) 253-7630 Fax: (732) 253-7632 About MGQ Investments & Development MGQ Investments & Development Inc. sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D.N.J. Case No. 16-33513) on Dec. 9, 2016. The petition was signed by Halim Quddus, vice-president. The case is assigned to Judge Stacey L. Meisel. At the time of the filing, the Debtor estimated assets of less than $1 million and liabilities of $1 million to $10 million. MIAMI NEUROLOGICAL: Ch.11 Trustee Hires GrayRobinson as Attorney ---------------------------------------------------------------- Soneet Kapila, the Chapter 11 Trustee for Miami Neurological Institute, LLC, seeks permission from the U.S. Bankruptcy Court for the Southern District of Florida to employ GrayRobinson PA as his attorneys. The Chapter 11 Trustee requires GrayRobinson to represent him in the Debtor's case to perform ordinary and necessary legal services required in the administration of the estate. GrayRobinson will be compensated in accordance with 11 USC sec. 330. Patrick S. Scott, Esq., employed by the law firm of GrayRobinson, PA, assured the Court that the firm is a "disinterested person" as the term is defined under Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtor and its estates. GrayRobinson may be reached at: Patrick S.Scott, Esq. GrayRobinson, PA 401 East Las Olas Boulevard, Suite 1850 Fort Lauderdale, FL 33301 Tel: 954-761-8111 Fax: 954-761-8112 About Miami Neurological Institute, LLC Miami Neurological Institute, LLC, dba Advanced Neuro Spine Institute, filed a Chapter 11 petition (Bankr. S.D. Fla. Case No. 17-10703), on January 25, 2017. The Petition was signed by Juan Ramirez, managing member. The case is assigned to Judge Laurel M. Isicoff. The Debtor is represented by Brett A. Elam, Esq., Farber + ELam, LLC. At the time of filing, the Debtor estimated assets to be less than $50,000 and liabilities at $1 million to $10 million. Soneet Kapila has been appointed as Chapter 11 trustee in the Debtor's case. MIAMI NEUROLOGICAL: Ch.11 Trustee Hires KapilaMukamal as Accountant ------------------------------------------------------------------- Soneet Kapila, the Chapter 11 Trustee for Miami Neurological Institute, LLC, asks the U.S. Bankruptcy Court for the Southern District of Florida for permission to employ KapilaMukamal as his accountants. The Chapter 11 Trustee is a founding partner of KM. The Chapter 11 Trustee requires KM to: a. review all financial information prepared by the Debtor or its accountants, including but no limited to a review of the Debtor's financial as of the date of the filing of the petition, its assets and liabilities, and its secure and unsecured creditors; b. review and analyze the organizational structure of and financial interrelationship among the Debtor and its affiliates and insiders, including a review of the books of such companies or person as may be requested; c. review and analyze transfer to and from the Debtor to third parties, both pre-petition and post-petition; d. attend meetings with the Debtor, its creditors, the attorneys of such parties, and with federal, state, and local tax authorities, if requested; e. review the books and records of the Debtor for potential preference payments, fraudulent transfers, or any other matters that the Trustee may request; f. render other assistance in the nature of accounting services, financial consulting, valuation issues, or other financial projects as the Trustee may deem necessary; and g. prepare of estate tax returns. KM has agreed to perform the foregoing services at the ordinary and usual hourly billings rate of its members who will perform services in the matter. KM will also be reimbursed for reasonable out-of-pocket expenses incurred. Soneet R. Kapila, founding partner of KapilaMukamal, 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. KM may be reached at: Soneet R. Kapila, CPA KapilaMukamal 1000 South Federal Highway, Suite 200 Fort Lauderdale, FL 33316 Tel: 954-712-3201 E-mail: kapila@kapilamukamal.com About Miami Neurological Institute, LLC Miami Neurological Institute, LLC, dba Advanced Neuro Spine Institute, filed a Chapter 11 petition (Bankr. S.D. Fla. Case No. 17-10703), on January 25, 2017. The Petition was signed by Juan Ramirez, managing member. The case is assigned to Judge Laurel M. Isicoff. The Debtor is represented by Brett A. Elam, Esq., Farber + ELam, LLC. At the time of filing, the Debtor estimated assets to be less than $50,000 and liabilities at $1 million to $10 million. Soneet Kapila has been appointed as Chapter 11 trustee in the Debtor's case. MICHIGAN SPORTING: Hires Warner Norcross as Counsel --------------------------------------------------- Michigan Sporting Goods Distributors, Inc., seeks authority from the U.S. Bankruptcy Court for the Western District of Michigan to employ Warner Norcross & Judd LLP as counsel to the Debtor. Michigan Sporting requires Warner Norcross to: a. assist in advising the Debtor with respect to their rights, powers and duties as debtor and debtor-in-possession; b. attend meetings and negotiating with representatives of creditors and other parties-in-interest; c. assist in advising and consulting the Debtor regarding the conduct of the cases, including all of the legal and administrative requirements of operating in Chapter 11; d. assist in advising the Debtor on matters relating to the evaluation of the assumption, rejection or assignment of unexpired leases and executor contracts; e. take all necessary action to protect and preserve the Debtor's estates, including the prosecution of actions on their behalf, the defense of any actions commenced against those estates, negotiations concerning all litigation in which the Debtor may be involved and objections to claims filed against the estates; f. assist in prosecuting Plans of Reorganization and Disclosure Statements and all related agreements and documents and taking any necessary action on behalf of the Debtor to obtain confirmation of such a plan; g. appear before the Court and the Office of the U.S. Trustee, and protect the interests of the Debtor's estates before the court and the Office of the U.S. Trustee; and h. assist in performing all other necessary legal services and provide all other necessary legal advice to the Debtor in connection with the Chapter 11 cases to bring the Debtor's Chapter 11 cases to a conclusion. Warner Norcross will be paid at these hourly rates: Robert H. Skilton $550 Stephen B. Grow $550 Gordon J. Toering $525 Stephen C. Waterbury $555 Melissa N. Collar $510 Robert A. Dubault $505 Elisabeth M Von Eitzen $410 R. Michael Azzi $345 Emily S. Rucker $285 Paralegal $180 The Debtor paid Warner Norcross $248,773, including through the application of prepetition retainers, to Warner Norcross for services preparing for the Chapter 11 proceeding and other restructuring matters. As of the Petition Date, Warner Norcross holds retainer of $26,259. Warner Norcross will also be reimbursed for reasonable out-of-pocket expenses incurred. Stephen B. Grow, member of Warner Norcross & Judd, 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. Warner Norcross can be reached at: Stephen B. Grow, Esq. WARNER NORCROSS & JUDD LLP 700 Terrace Point Rd, Suite 350 Muskegon, MI 49449 Tel: (231) 727-2600 About Michigan Sporting Goods Distributors Michigan Sporting Goods Distributors, Inc., based in Grand Rapids, MI, filed a Chapter 11 petition (Bankr. W.D. Mich. Case No. 17-00612) on Feb. 14, 2017. The Hon. John T. Gregg presides over the case. The petition was signed by Bruce Ullery, president and chief executive officer. Robert Michael Azzi, Esq., Stephen B. Grow, Esq., and Elisabeth M. Von Eitzen, Esq., at Warner Norcross & Judd LLP, serves as bankruptcy counsel to the Debtor. The Debtor hired Stout Risius Ross Advisors, LLC as financial advisor. In its petition, the Debtor estimated $50 million to $100 million in both assets and liabilities. MICHIGAN SPORTING: Taps Stout Risius as Financial Advisor --------------------------------------------------------- Michigan Sporting Goods Distributors, Inc., seeks authority from the U.S. Bankruptcy Court for the Western District of Michigan to employ Stout Risius Ross Advisors, LLC, as financial advisor and investment banker to the Debtor. Michigan Sporting requires Stout Risius to: a. assist the Debtor with the development and distribution of information as necessary; b. evaluate proposals from potential investors, acquirers, or partners and c. assist with the negotiation of any potential sales transactions, including negotiations with creditors and other interested parties. Stout Risius will be paid as follows: If the aggregate gross consideration of a going-concern sale is at least $57,750,000, Stout Risius will be paid $250,000 plus 5% of any amount by which the aggregate gross consideration exceeds $57,750,000. On February 13, 2017, Stout Risius received the amount of $75,000 for prepetition services. Stout Risius will also be reimbursed for reasonable out-of-pocket expenses incurred. Michael Krakovsky, member of Stout Risius, 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. Stout Risius can be reached at: Michael Krakovsky STOUT RISIUS ROSS ADVISORS, LLC 4000 Town Center, 20th Floor Southfield, MI 48075 Tel: (248) 208-8800 Fax: (248) 208-8822 About Michigan Sporting Goods Distributors Michigan Sporting Goods Distributors, Inc., based in Grand Rapids, MI, filed a Chapter 11 petition (Bankr. W.D. Mich. Case No. 17-00612) on Feb. 14, 2017. The Hon. John T. Gregg presides over the case. The petition was signed by Bruce Ullery, president and chief executive officer. Robert Michael Azzi, Esq., Stephen B. Grow, Esq., and Elisabeth M. Von Eitzen, Esq., at Warner Norcross & Judd LLP, serves as bankruptcy counsel to the Debtor. The Debtor hired Stout Risius Ross Advisors, LLC as financial advisor. In its petition, the Debtor estimated $50 million to $100 million in both assets and liabilities. MIDWAY GOLD: Gets Exclusivity to Solicit Plan Votes Thru Feb. 22 ---------------------------------------------------------------- The U.S. Bankruptcy Court approved Midway Gold's sixth motion to extend the exclusive period during which the Company may solicit acceptances for its Chapter 11 plan through and including February 22, 2017. As previously reported, "The Debtors have already complied with the Current Plan Exclusivity Period by filing the Plan and Disclosure statement prior to August 15, 2016. As a result of the Court's September 14, 2016 Minute Order and the October 13, 2016 Adversary Proceeding Minute Order, the Debtors require an extension of the Current Acceptance Exclusivity Period, which expires on January 15, 2017. Now that substantially all of the Debtors' assets have been sold and the Debtors have filed their Amended Plan and Disclosure Statement, they are awaiting the Court's ruling in the Adversary Proceeding, which will dictate the Debtors' next steps. As such, Debtors require additional time to solicit acceptance of the Amended Plan. An extension of the Current Acceptance Exclusivity Period will not prejudice any creditor and is not being sought for purposes of delay or for any other improper purpose." About Midway Gold Midway Gold Corp., incorporated on May 14, 1996 under the laws of the Province of British Columbia, Canada, is engaged in the acquisition, exploration and development of mineral properties located in the state of Nevada and Washington. Midway Gold operates primarily through its wholly-owned subsidiary located in the United States, Midway Gold US Inc. The executive offices are in Englewood, Colorado. Midway US currently has one gold producing property: the Pan gold mine located in White Pine County, Nevada. Midway also has gold properties which are exploratory stage projects where gold mineralization has been identified, such as the Tonopah project in Nye County, Nevada, the Gold Rock project in White Pine County, Nevada, and the Golden Eagle project in Ferry County, Washington. Out of these projects, a permitting process has been undertaken only for the Gold Rock project. Finally, Midway's Spring Valley property, another gold property located in Pershing County, Nevada, is subject to a joint venture with Barrick Gold Exploration Inc. On June 22, 2015, Midway Gold US Inc. and 12 related entities, including parent Midway Gold Corp. each filed a petition in the U.S. Bankruptcy Court for the District of Colorado seeking relief under Chapter 11 of the U.S. Bankruptcy Code. The Debtors' cases have been assigned to Judge Michael E. Romero. Judge Michael E. Romero directed the joint administration of the cases under Case No. 15-16835. The Debtors tapped Squire Patton Boggs (US) LLP as lead bankruptcy counsel; Sender Wasserman Wadsworth, P.C., as special bankruptcy and restructuring counsel; DLA Piper (Canada) LLP, as Canadian bankruptcy counsel; Ernst & Young Inc., as information officer of Canadian court; RBC Capital Markets, as investment banker; FTI Consulting as financial advisor; and Epiq Solutions, as claims and noticing agent. Midway Gold Corp. disclosed $184 million in assets and $62.4 million in liabilities as of March 31, 2015. Midway Gold US Inc., disclosed total assets of $2,461,673 and total liabilities of $122,448,181 as of the Chapter 11 filing. In July 2015, the U.S. Trustee overseeing the Debtors' cases appointed seven creditors to serve on the official committee of unsecured creditors. The creditors are American Assay Laboratories, EPC Services Company, InFaith Community Foundation, Jacobs Engineering Group Inc., SRK Consulting (US) Inc., Sunbelt Rentals, and Boart Longyear. Gavin/Solmonese LLC serves as its financial advisor. MODULAR SPACE: Court OKs Disclosure, Confirms Reorganization Plan ----------------------------------------------------------------- The Hon. Kevin J. Carey of the U.S. Bankruptcy Court for the District of Delaware has approved Modular Space Holdings, Inc., et al.'s disclosure statement and confirmed the Debtors' joint prepackaged plan of reorganization, dated Feb. 3, 2017. Matt Chiappardi, writing for Bankruptcy Law360, reports that the Plan would lighten the Debtors' $1 billion debt load by swapping out roughly $400 million in liabilities for equity in a reorganized company. James L. Bromley, Esq., at Cleary Gottlieb Steen & Hamilton LLP, the attorney for Modular Space, said during a hearing in Wilmington that 100% of the company's creditors voted in favor of the plan, Law360 relates. These claims are impaired by the Plan: a. Class 6A Existing Holdings Equity Interests in Modular Space Holdings, Inc; b. Class 7B First Lien Credit Facility Claims and Class 8B Note Claims against Modular Space Intermediate Holdings, Inc.; c. Class 5C Management Agreement Claims, Class 7C First Lien Credit Facility Claims, and Class 8C Note Claims against Modular Space Corporation; d. Class 7D First Lien Credit Facility Claims and Class 8D Note Claims against Resun ModSpace, Inc.; e. Class 7E First Lien Credit Facility Claims and Class 8E Note Claims against ModSpace Government Financial Services, Inc.; f. Class 7F First Lien Credit Facility Claims against ModSpace Government Financial Services Canada, Ltd.; and g. Class 7G First Lien Credit Facility Claims and Class 8G Note Claims against Resun Chippewa, LLC. The Plan states that on the Effective Date, to the extent the First Lien Credit Facility Claims were not previously paid pursuant to a court order or otherwise, the First Lien Credit Facility Claims will be assumed by the Reorganized Debtors in accordance with the Fourth Amended and Restated Credit Agreement pursuant to the terms of the Exit Credit Facility Documents. Each holder of an Allowed Note Claim will receive its pro rata share of: (i) New Common Equity Interests, subject to dilution by reason of the issuance of MIP Equity Compensation, the FID Compensation, the exercise of any New Warrants, or the issuance of the additional New Common Equity Interests or other equity securities on or after the Effective Date; and (ii) the subscription rights; provided, however, that only eligible holders will be entitled to participate in the rights offering. The court order and the Plan is available at: http://bankrupt.com/misc/deb16-12825-256.pdf About Modular Space Modular Space Corporation (ModSpace), based in Berwyn, Pa. -- http://Blog.ModSpace.com/-- is the largest U.S.-owned provider of office trailers, portable storage units and modular buildings for temporary or permanent space needs. Building on nearly 50 years of experience, ModSpace serves a diverse set of customers and markets including commercial, construction, education, government, healthcare, industrial, energy, disaster relief, franchise and special events through an extensive branch network across the United States and Canada. On Dec. 21 2016, Modular Space Holdings, Inc., and six affiliates filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code (Bankr. D. Del. Case No. 16-12825 to 16-12831) to pursue a prepackaged plan of reorganization. The cases are pending joint administration under Case No. 16-12825 before the Honorable Kevin J. Carey. ModSpace estimated $1 billion to $10 billion in assets and liabilities. Cleary Gottlieb Steen & Hamilton LLP is acting as legal counsel for the Company; Lazard Middle Market LLC and Lazard Freres & Co. LLC are acting as the Company's investment bankers and Zolfo Cooper is the Company's financial advisor. Kurtzman Carson Consultants is the claims and noticing agent. Dechert LLP is acting as legal counsel, and Moelis & Company LLC is acting as financial advisor to the ad hoc group of noteholders. * * * Modular Space Corporation filed a Prepackaged Plan of Reorganization that will eliminate approximately $400 million of debt from the Company's balance sheet, provide $90 million of new equity capital from the bondholders via a rights offering and include a new $719 million credit facility to be provided by the existing asset based lenders. General unsecured claims, to the extent not paid earlier by order of the Court, would either be paid in full in cash or reinstated on the Effective Date. However, under certain conditions, the Plan affords the noteholders the right to direct the Debtors (subject to certain consent rights) to pursue an "alternative transaction." MODULAR SPACE: US Attorney Office Objects to Prepackaged Plan ------------------------------------------------------------- BankruptcyData.com reported that United States/USAO filed with the U.S. Bankruptcy Court an objection to Modular Space Holdings' Joint Prepackaged Plan of Reorganization and related Disclosure Statement. The objection asserts, "The United States objects to the Disclosure Statement because it does not contain information adequate to allow creditors to make informed decisions about the Plan. In fact, both the Disclosure Statement and the Plan describe a confusing and contradictory process of claim treatment that, against the backdrop of expedited bankruptcy proceedings, deprives creditors of any meaningful opportunity to understand or participate in the plan process. The lack of information in the Creditor List raises two serious issues. First the United States objects to the Plan because federal creditors have not been afforded adequate notice to determine possible federal interests in these bankruptcy cases and to gauge the effect of the Plan on those interests. Secondly, the creditor information that has been filed by the Debtors appears incomplete, at best, and provides very little actual notice to those claim holders whose interests are being harmed by the Plan. Moreover, there is little chance of more information being provided to claimants in theses bankruptcies because the Debtors are not required to convene a Creditors' Meeting or to file any further statements of financial affairs or schedules if their Plan is confirmed by March 3, 2017." About Modular Space Modular Space Corporation (ModSpace), based in Berwyn, Pa. -- http://Blog.ModSpace.com/-- is the largest U.S.-owned provider of office trailers, portable storage units and modular buildings for temporary or permanent space needs. Building on nearly 50 years of experience, ModSpace serves a diverse set of customers and markets including commercial, construction, education, government, healthcare, industrial, energy, disaster relief, franchise and special events through an extensive branch network across the United States and Canada. On Dec. 21 2016, Modular Space Holdings, Inc., and six affiliates filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code (Bankr. D. Del. Case No. 16-12825 to 16-12831) to pursue a prepackaged plan of reorganization. The cases are pending joint administration under Case No. 16-12825 before the Honorable Kevin J. Carey. ModSpace estimated $1 billion to $10 billion in assets and liabilities. Cleary Gottlieb Steen & Hamilton LLP is acting as legal counsel for the Company; Lazard Middle Market LLC and Lazard Freres & Co. LLC are acting as the Company's investment bankers and Zolfo Cooper is the Company's financial advisor. Kurtzman Carson Consultants is the claims and noticing agent. Dechert LLP is acting as legal counsel, and Moelis & Company LLC is acting as financial advisor to the ad hoc group of noteholders. * * * Modular Space Corporation filed a Prepackaged Plan of Reorganization that will eliminate approximately $400 million of debt from the Company's balance sheet, provide $90 million of new equity capital from the bondholders via a rights offering and include a new $719 million credit facility to be provided by the existing asset based lenders (the "Lenders"). General unsecured claims, to the extent not paid earlier by order of the Court, would either be paid in full in cash or reinstated on the Effective Date. However, under certain conditions, the Plan affords the noteholders the right to direct the Debtors (subject to certain consent rights) to pursue an "alternative transaction." NEONODE INC: Columbus Capital No Longer a Shareholder ----------------------------------------------------- In an amended Schedule 13G filed with the Securities and Exchange Commission, Columbus Capital Management, LLC and Matthew D. Ockner, managing member of CCM, reported that as of Dec. 31, 2016, they have ceased to beneficially own shares of common stock of Neonode Inc. A full-text copy of the regulatory filing is available for free at https://is.gd/GseasL About Neonode Inc. Lafayette, Calif.-based Neonode Inc. (OTC BB: NEON) -- http://www.neonode.com/-- provides optical touch screen solutions for hand-held and small to midsize devices. Neonode reported a net loss attributable to the Company of $7.82 million on $11.11 million of net revenues for the year ended Dec. 31, 2015, compared to a net loss attributable to the Company of $14.23 million on $4.74 million of net revenues for the year ended Dec. 31, 2014. As of Sept. 30, 2016, Neonode had $10.85 million in total assets, $6.06 million in total liabilities and $4.78 million in total stockholders' equity. NEOVASC INC: Presented at Leerink Partners Global Conference ------------------------------------------------------------ Neovasc Inc. announced that Alexei Marko, chief executive officer, was scheduled presented at the LEERINK Partners 6th Annual Global Healthcare Conference on Thursday, February 16th at 9:00 am ET at the Lotte New York Palace in New York City. A live audio webcast of the presentation was available on the Investors page of Neovasc's website at http://www.neovasc.com/ Investor Relations Neovasc Inc. Chris Clark Tel: 604 248-4138 E-mail: cclark@neovasc.com About Neovasc Inc. Neovasc Inc. (CVE:NVC) -- http://www.neovasc.com/-- is a Canadian specialty medical device company that develops, manufactures and markets products for the rapidly growing cardiovascular marketplace. Its products in development include the Tiara, for the transcatheter treatment of mitral valve disease and the Neovasc Reducer for the treatment of refractory angina. The Company also sells a line of advanced biological tissue products that are used as key components in third-party medical products including transcatheter heart valves. Neovasc reported a net loss of US$26.73 million for the year ended Dec. 31, 2015, compared to a net loss of US$17.17 million for the year ended Dec. 31, 2014. As of Sept. 30, 2016, Neovasc had US$33.83 million in total assets, US$93.45 million in total liabilities and a total deficit of US$59.61 million. NEPHROGENEX INC: Seeks Court Approval of PSA with Medpace --------------------------------------------------------- BankruptcyData.com reported that NephroGenex filed with the U.S. Bankruptcy Court a motion for an order authorizing the Debtor's entry into a plan support agreement (PSA) with Medpace. The PSA motion explains, "The Term Sheet contemplates a plan of reorganization pursuant to which Medpace would waive its cash distribution and exchange its unsecured claim against the Debtor in the amount of $4,312,698.51 (the 'Medpace Claim') for 100% of the newly-issued equity in the reorganized Debtor. The Medpace Claim is by far the largest claim against the Debtor's estate and comprises at least 65% of the unsecured claims pool. As a result of the contemplated restructuring, the Debtor's unsecured creditors are projected to receive a 39.4% to 57.7% recovery on their claims -- which is a material improvement over the projected recovery under the Debtor's Liquidating Plan. In order to induce the Debtor to withdraw its Liquidating Plan and proceed with the alternative restructuring transaction proposed by Medpace and embodied in the Term Sheet, Medpace agreed to enter into the PSA with the Debtor." The Court scheduled a February 24, 2017 hearing to consider the motion. About NephroGenex, Inc. Raleigh, N.C.-based NephroGenex, Inc., is a drug development company that focuses on developing novel therapies for kidney disease. It develops Pyridorin (pyridoxamine dihydrochoride), a therapeutic agent, which is in Phase III clinical study for the treatment of diabetic nephropathy. NephroGenex filed for Chapter 11 bankruptcy protection (Bankr. D. Del. Case No. 16-11074) on April 30, 2016, disclosing $4.9 million in total assets and $6.2 million in total debt as of April 30, 2016. The petition was signed by John P. Hamill, chief executive officer and chief financial officer. David R. Hurst, Esq., at Cole Scotz P.C. serves as the Debtor's bankruptcy counsel. Cassel Salpeter & Co. LLC is the Debtor's investment banker and financial advisor. Kurtzman Carson Consultants LLC is the Debtor's claims and noticing agent. ONCOBIOLOGICS INC: May Issue Add'l 1.4M Shares Under 2015 EIP ------------------------------------------------------------- Oncobiologics, Inc. filed a Form S-8 registration statement with the Securities and Exchange Commission for the purpose of registering an additional 1,391,451 shares of its Common Stock, issuable to eligible persons under the 2015 Equity Incentive Plan, which Common Stock is in addition to the shares of Common Stock registered on the Company's Form S-8 filed on May 13, 2016. A full-text copy of the prospectus is available for free at: https://is.gd/BCY2X7 About Oncobiologics Oncobiologics, Inc., is a clinical-stage biopharmaceutical company focused on identifying, developing, manufacturing and commercializing complex biosimilar therapeutics. The Cranbury, New Jersey-based Company's current focus is on technically challenging and commercially attractive monoclonal antibodies, or mAbs, in the disease areas of immunology and oncology. Oncobiologics reported a net loss of $53.32 million on $2.97 million of collaboration revenues for the year ended Sept. 30, 2016, compared to a net loss of $48.66 million on $5.21 million of collaboration revenues for the year ended Sept. 30, 2015. As of Sept. 30, 2016, Oncobiologics had $23.70 million in total assets, $28.90 million in total liabilities and a total stockholders' deficit of $5.20 million. KPMG LLP, in Philadelphia, Pennsylvania, issued a "going concern" qualification on the consolidated financial statements for the year ended Sept. 30, 2016, citing that the Company has incurred recurring losses and negative cash flows from operations since inception and has an accumulated deficit at Sept. 30, 2016 of $147.4 million and $4.6 million of indebtedness that is due on demand, which raises substantial doubt about its ability to continue as a going concern. ONCOBIOLOGICS INC: Registers 2 Million Shares for Resale -------------------------------------------------------- Oncobiologics, Inc. filed a Form S-1 registration statement with the Securities and Exchange Commission relating to the resale by Sabby Management, LLC, PointState Fund LP, venBio Select Advisor LLC, Dennis O'Donnell and Simon Woodhouse of up to 2,024,000 shares of the Company's common stock that are issuable upon the exercise of the warrants to purchase our common stock, or the warrant shares. The warrants were issued to the selling stockholders pursuant to a note and warrant purchase agreement dated Dec. 22, 2016. The Company is not selling any shares of common stock and will not receive any proceeds from the sale of the warrant shares by the selling stockholders under this prospectus. Upon the exercise of the warrants for 2,024,000 shares of the Company's common stock by payment of cash, however, the Company will receive the exercise price of the warrants, which is $3.00 per share. The Company has agreed to bear all of the expenses incurred in connection with the registration of these warrant shares. The selling stockholders will pay or assume brokerage commissions and similar charges, if any, incurred for the sale of the warrant shares. The Company's common stock is traded on the NASDAQ Global Market under the symbol "ONS." On Feb. 14, 2017, the closing sale price of the Company's common stock on the NASDAQ Global Market was $3.38 per share. A full-text copy of the prospectus is available for free at: https://is.gd/u5cZxN About Oncobiologics Oncobiologics, Inc., is a clinical-stage biopharmaceutical company focused on identifying, developing, manufacturing and commercializing complex biosimilar therapeutics. The Cranbury, New Jersey-based Company's current focus is on technically challenging and commercially attractive monoclonal antibodies, or mAbs, in the disease areas of immunology and oncology. Oncobiologics reported a net loss of $53.32 million on $2.97 million of collaboration revenues for the year ended Sept. 30, 2016, compared to a net loss of $48.66 million on $5.21 million of collaboration revenues for the year ended Sept. 30, 2015. As of Sept. 30, 2016, Oncobiologics had $23.70 million in total assets, $28.90 million in total liabilities and a total stockholders' deficit of $5.20 million. KPMG LLP, in Philadelphia, Pennsylvania, issued a "going concern" qualification on the consolidated financial statements for the year ended Sept. 30, 2016, citing that the Company has incurred recurring losses and negative cash flows from operations since inception and has an accumulated deficit at Sept. 30, 2016 of $147.4 million and $4.6 million of indebtedness that is due on demand, which raises substantial doubt about its ability to continue as a going concern. PURSUIT HOLDINGS: Case Summary & 21 Largest Unsecured Creditors --------------------------------------------------------------- Debtor: Pursuit Holdings (NY), LLC f/k/a Pursuit Holdings, LLC 23 Mckinley Road Montauk, NY 11954 Case No.: 17-10389 Chapter 11 Petition Date: February 20, 2017 Court: United States Bankruptcy Court District of Delaware (Delaware) Debtor's Counsel: Jenny Kasen, Esq. KASEN & KASEN, P.C. 1000 N. West St., Suite 1200 Wilmington, DE 19801 Tel: 302-652-3300 Fax: 856-424-7565 E-mail: jkasen@kasenlaw.com Estimated Assets: $10 million to $50 million Estimated Debt: $1 million to $10 million The petition was signed by Michael Hayden Sanford, sole member. Debtor's List of 21 Largest Unsecured Creditors: Entity Nature of Claim Claim Amount ------ --------------- ------------ Cohen, Tauber Spievack & Wagner PC Legal Fees Unknown Consolidated Edison Utility Bill Est. $7,500 Company of NY, Inc. Corbally, Gartland Legal Fees Unknown and Rappleyea, LLP Delphi Capital Alleged Breach Unknown Management LLC of Contract Claims DEP/BCS Utility Bill Unknown Dorsey & Whitney LLP Legal Fees $42,017 Hampton Bridge Advisors Unknown Havens & Lichtenberg, PLLC Legal Fees Unknown Holwell, Shuster & Goldberg, LLP Legal Fees Unknown Internal Revenue Service Capital Gains $205,930 Taxes Estimated JAMS Arbitration $15,000 Fees Estimated Katsky Korins, LLP Legal Fees Unknown Law Offices of Legal Fees Unknown James A. Prestiano, P.C. Michael I. Knopf Alleged Breach Unknown of contract claims Michael J. Merendino Unknown Michael Phillips Unknown Norma Knopf Alleged Breach Unknown of contract claims Norma Knopf Alleged Breach Unknown of contract claims NY State Dept. of Capital Gains $76,315 Taxation & Finance Taxes Estimated Orange Clockwork Trust Unknown Raphael DeNiro Marketing Expenses $2,500 QUOTIENT LIMITED: Visium Asset No Longer Owns Shares as of Dec. 31 ------------------------------------------------------------------ In an amended Schedule 13G filed with the Securities and Exchange Commission, Visium Asset Management, LP, JG Asset, LLC and Jacob Gottlieb disclosed that as of Dec. 31, 2016, they beneficially owned zero ordinary shares of Quotient Limited. A full-text copy of the regulatory filing is available for free at: https://is.gd/gOsuPz About Quotient Limited Quotient is a commercial-stage diagnostics company committed to reducing healthcare costs and improving patient care through the provision of innovative tests within established markets. With an initial focus on blood grouping and serological disease screening, Quotient is developing its proprietary MosaiQ technology platform to offer a breadth of tests that is unmatched by existing commercially available transfusion diagnostic instrument platforms. The Company's operations are based in Edinburgh, Scotland; Eysins, Switzerland and Newtown, Pennsylvania. Quotient Limited reported a net loss of US$33.87 million for the year ended March 31, 2016, a net loss of US$59.05 million for the yera ended March 31, 2015, and a net loss of US$10.16 million for the year ended March 31, 2014. Ernst & Young LLP, in Belfast, United Kingdom, issued a "going concern" qualification on the consolidated financial statements for the year ended March 31, 2016, citing that the Company has recurring losses from operations and planned expenditure exceeding available funding that raise substantial doubt about its ability to continue as a going concern. RENNOVA HEALTH: Obtains $3 Million Advances from Director --------------------------------------------------------- Rennova Health, Inc., has received advances aggregating $3,000,000 from Christopher Diamantis, a director of the Company. The advances, along with $454,025 of previously accrued but unpaid interest, are due on demand and bear interest at 10% per annum. The Company has used the advances to pay the purchase price under the previously announced asset purchase agreement to acquire certain assets related to Scott Community Hospital based in Oneida, Tennesee, and for general corporate purposes. As security for such advances, the Company has agreed to give Mr. Diamantis a lien on the acquired assets as well as on all of the shares of capital stock of the subsidiary that purchased the assets. The Company has also agreed to issue Mr. Diamantis warrants to purchase shares of common stock on terms to be negotiated, according to a Form 8-K filing with the Securities and Exchange Commission. 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." RENNOVA HEALTH: Sramowicz Reports 10.8% Equity Stake ---------------------------------------------------- In an amended Schedule 13D filed with the Securities and Exchange Commission, Steven Sramowicz disclosed that as of Aug. 5, 2016, he may be deemed to beneficially own 4,886,013 shares of Rennova Health, Inc. (or approximately 10.8% of the total number of Shares then deemed outstanding), which consists of (i) 2,370,836 Shares; (ii) 2,000,000 stock options owned of record by Mr. Sramowicz to purchase a like number of Shares; and (iii) 515,177 warrants owned of record by Mr. Sramowicz, to purchase a like number of Shares, all as to which Mr. Sramowicz has sole dispositive and voting power. Those Shares do not include 1,000 shares of the Company's Series B Convertible Preferred Stock, owned of record by Mr. Sramowicz. The Amendment No. 2 to Schedule 13D was filed to report the issuance to Mr. Sramowicz on Aug. 5, 2016, of 515,177 Shares (at $0.45 per Share) and 515,177 warrants to purchase a like number of Shares at an exercise price of $0.45 per Share. The warrants are currently exercisable and expire on Aug. 5, 2026. The Shares and the warrants were issued to Mr. Sramowicz by Rennova in exchange for the cancellation of certain outstanding indebtedness owned by the Issuer to Mr. Sramowicz. A full-text copy of the regulatory filing is available at: https://is.gd/TItkIP 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." RICEBRAN TECHNOLOGIES: Inks Deal for $8 Million Private Placement ----------------------------------------------------------------- RiceBran Technologies has entered into definitive agreements with a group of accredited investors for the purchase of $6 million of non-convertible original issue discount debentures and $2 million of convertible preferred stock. The Company intends to use net proceeds from the offering to repay approximately $4.2 million in debt, including the repayment of all of its outstanding debt with Great Elm Capital (formerly Full Circle Capital). The remaining proceeds, net of expenses, will be used as working capital to fuel the growth of the Company's rice bran ingredient business in both the food-grade and animal nutrition markets as well as to begin the implementation of the Company's strategic business realignment to improve overall operating efficiencies. Commenting on the financing, Dr, Robert Smith, CEO of RiceBran Technologies, stated "The completion of this capital infusion is an important inflection point in positioning our Company for future growth in order to build significant shareholder value. With this capital we now have the ability to move forward with our aggressive business plans and streamlining efforts designed to drive future sales growth and greatly improve our financial performance. We are confident that the marked reduction in debt service costs coupled with the operating efficiencies we believe we can obtain through the relocation of a majority of our operations to California in the heart of rice country, will set the stage for us to meet the ingredient needs of large CPG and specialty food companies. It will also enable us to achieve a significant improvement in operating cash to fuel future growth. Our products are perfectly positioned to meet growing consumer demand for non-GMO foods that contain protein, fiber and are rich in anti-oxidants. We look forward to using this capital to deliver positive results for our shareholders in 2017 and beyond." The $8 million offering, includes a combination of debt and equity securities, and is expected to close last Feb. 10, 2017, subject to customary closing conditions. The debt component of the offering consists of $6 million in non-interest bearing non-convertible original issue discount senior secured debt maturing on Feb. 10, 2019, and warrants to purchase a total of 6,875,000 shares of Common Stock at a fixed exercise price of $0.96 per share. The face value of this original issue discount senior secured debt is $6.6 million, reflecting an aggregate original issue discount of $600,000. In connection with the issuance of the secured debt, the Company will (i) issue warrants to purchase 6,875,000 shares of the Company’s Common stock, with an exercise price of $0.96 per share and (ii) reduce the per share exercise prices from $5.87, $5.27 and $5.25 to $0.96 of 885,010 Company warrants currently held by the purchases of the secured debt. The equity component consists of $2 million of Series "G" convertible preferred stock convertible into 1,897,983 shares of the Company's Common Stock, based on a conversion price of $1.05375 per share. In addition, the Company will issue warrants to purchase a total of 1,423,488 shares of Common Stock to the holders of the Preferred Stock at an exercise price of $0.96 per share. None of the securities issued in connection with this offering and debt restructuring contain price-based anti-dilution provisions. The warrants will be exercisable upon the approval by the Company's shareholders of the amendment to the Company's articles of incorporation to increase the number of authorized shares of Common Stock, and will expire five years from such date. A more detailed description of the Offering is available with the Securities and Exchange Commission at https://is.gd/Q9e8Rs The $4.2 million in debt repayments includes approximately $4.0 million for the retirement of all of its outstanding debt with Great Elm Capital. The Company also reached an agreement with the holders of approximately $6.3 million of the Company's current subordinated debt to extend the maturity of the debt for an additional year to May 10, 2019, and reduce the annual interest rate from 11.75% to 7% in exchange for new warrants to purchase a total of 3,484,675 shares of Common Stock at an exercise price of $0.96 per share, the amendment of existing warrants to purchase a total of 289,669 shares to reduce the exercise price from $5.25 per share to $0.96 per share, and the payment of approximately $230,000 in principal and approximately $270,000 in accrued interest. The Offering, debt repayment, and subordinated debt restructuring will result in an annual cash interest savings on the subordinated debt of approximately $325,000. Brent Rosenthal, Chairman of the Board of Directors of RiceBran Technologies, also commented, "RiceBran Technologies has been undergoing a major transformation in the past several months since I became Chairman and this financing is a very large step forward in reaching our goal of generating significant shareholder value. We have significantly increased the food industry experience of our board and management team and together we have laid out a comprehensive vision to monetize the intrinsic value of our intellectual property through the execution of a strategic plan to target large CPG opportunities. This financing removes a large overhang of debt service and provides us with capital to begin the realignment of our operations and upgrade of our facilities to meet the stringent food safety standards of large CPG companies while reducing inefficiencies. Our singular objective is to unlock the significant value of our proprietary ingredients and products and we look forward working together to build lasting value in the coming years for the benefit of our stockholders." Lake Street Capital Markets is acting as the sole placement agent for the transaction. The securities offered in the private placement have not been registered under the Securities Act, or any state securities law. Until the shares underlying the preferred stock and shares underlying the warrants are registered, they may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and applicable state laws. About RiceBran Scottsdale, Ariz.-based RiceBran Technologies, a California corporation, is a human food ingredient and animal nutrition company focused on the procurement, bio-refining and marketing of numerous products derived from rice bran. RiceBran reported a net loss of $10.6 million on $39.9 million of revenues for the year ended Dec. 31, 2015, compared to a net loss of $26.6 million on $40.10 million of revenues for the year ended Dec. 31, 2014. As of Sept. 30, 2016, RiceBran had $31.22 million in total assets, $31.86 million in total liabilities, $551,000 in total temporary equity and a total deficit of $1.19 million. The Company's auditors 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 suffered recurring losses from operations resulting in an accumulated deficit of $251 million at December 31, 2015. This factor among other things, raises substantial doubt about its ability to continue as a going concern, the auditors said. ROBISON TIRE: Execution of 2016 Lease/Option With Sistrunk Approved ------------------------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of Mississippi authorized Robison Tire Co., Inc., to enter into a 2016 Lease Agreement and Option to Purchase with Sistrunk Sales and Services, Inc. In the event Sistrunk timely exercises the option to purchase pursuant to the 2016 Lease/Option, the Debtor is authorized to (i) consummate the sale on the terms and conditions provided for therein, and (ii) pay reasonable and customary closing expenses in connection therewith without any further order of the Court. In the event Sistrunk timely exercises the option to purchase pursuant to the 2016 Lease/Option, Sistrunk will be entitled to good faith purchaser status pursuant to Section 363 of the Bankruptcy Code. In the event Sistrunk exercises the option and consummates the sale, the Debtor will file a report of sale with the Court, unless otherwise provided for in a confirmed Chapter 11 Plan. Good cause exists to authorize the execution of the 2016 Lease/Option without subjecting the order to a stay of execution, as permitted under Rules 7062 and 6004(h) of the Federal Rules of Bankruptcy Procedure. About Robison Tire Since the early 1970's, Robison Tire Co., Inc., has been an authorized wholesaler and retailer of a number of the brands, including Armour, Bridgestone, Goodyear, Hankook, Hercules and Toyo. Robison Tire Co., Inc. sought the Chapter 11 protection (Bankr. S.D. Miss. Case No. 16-51183) on July 14, 2016. The petition was signed by Michael Windham, president. Judge Katharine M. Samson is assigned to the case. The Debtor estimated assets in the range of $500,000 to $1 million and $1 million to $10 million in debt. Jarrett Little, Esq. at Lentz & Little, PA serves as the Debtor's counsel. The Debtor employs Taylor Auction & Realty, Inc. as auctioneer and appraiser; and Molloy-Seidenburg & Co., P.A. as accountant. No official committee of unsecured creditors has been appointed in the case. ROSETTA GENOMICS: Dganit Bar Resigns as Chief Scientific Officer ---------------------------------------------------------------- Dganit Bar, Ph.D., has notified Rosetta Genomics Ltd. that she is resigning as chief scientific officer of the Company, effective March 14, 2017, to assume the chief executive officer position at a company focused on therapeutics, according to a Form 8-K report filed with the Securities and Exchange Commission. About Rosetta Genomics Based in Rehovot, Israel, Rosetta Genomics Ltd. is seeking to develop and commercialize new diagnostic tests based on a recently discovered group of genes known as microRNAs. MicroRNAs are naturally expressed, or produced, using instructions encoded in DNA and are believed to play an important role in normal function and in various pathologies. The Company has established a CLIA- certified laboratory in Philadelphia, which enables the Company to develop, validate and commercialize its own diagnostic tests applying its microRNA technology. Rosetta Genomics reported a loss from continuing operations of US$17.34 million on US$8.26 million of total revenues for the year ended Dec. 31, 2015, compared to a loss from continuing operations of US$14.52 million on US$1.32 million of total revenues for the year ended Dec. 31, 2014. As of Sept. 30, 2016, Rosetta had $12.62 million in total assets, $3.70 million in total liabilities and $8.92 million in total shareholders' equity. As reported by the TCR on Oct. 18, 2016, Rosetta received a staff deficiency letter from The Nasdaq Stock Market notifying the Company that for the past 30 consecutive business days, the closing bid price per share of its ordinary shares was below the $1.00 minimum bid price requirement for continued listing on The Nasdaq Capital Market, as required by Nasdaq Listing Rule 5550(a)(2). SERVICE WELDING: Case Summary & 20 Largest Unsecured Creditors -------------------------------------------------------------- Debtor: Service Welding & Machine Company, LLC dba Service Tanks 1860 Williamson Court, Suite 3 Louisville, KY 40223 Case No.: 17-30485 Chapter 11 Petition Date: February 17, 2017 Court: United States Bankruptcy Court Western District of Kentucky (Louisville) Judge: Hon. Joan A. Lloyd Debtor's Counsel: Charity Bird Neukomm, Esq. KAPLAN & PARTNERS LLP 710 West Main Street, 4th Floor Louisville, KY 40202 Tel: 502-540-8285 Fax: 502-540-8282 E-mail: cneukomm@kplouisville.com Total Assets: $516,432 Total Liabilities: $2.12 million The petition was signed by Jeff Androla, president. A copy of the Debtor's list of 20 largest unsecured creditors is available for free at http://bankrupt.com/misc/kywb17-30485.pdf SUNSOUTH BANCSHARES: Case Summary & 6 Unsecured Creditors --------------------------------------------------------- Debtor: SunSouth Bancshares, Inc. 103 Jamestown Boulevard Dothan, AL 36301-6409 Case No.: 17-10371 Chapter 11 Petition Date: February 17, 2017 Court: United States Bankruptcy Court Middle District of Alabama (Dothan) Judge: Hon. Dwight H. Williams Jr. Debtor's Counsel: Von G. Memory, Esq. MEMORY & DAY P. O. Box 4054 469 S.McDonough St. Montgomery, AL 36101 Tel: 334-834-8000 Fax: 334-834-8001 E-mail: vgm@memorylegal.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $10 million to $50 million The petition was signed by H. Monty Weigel, president. A copy of the Debtor's list of six unsecured creditors is available for free at http://bankrupt.com/misc/almb17-10371.pdf TRIANGLE USA: Amends Backstop Commitment Agreement -------------------------------------------------- BankruptcyData.com reported that Triangle USA Petroleum filed with the U.S. Bankruptcy Court a notice of filing of Amendment No. 1 to its backstop commitment agreement. The notice states, "Pursuant to the Amendment, the Backstop Commitment Agreement has been amended to (a) remove Southeastern Asset Management, as a party thereto and a Backstop Investor thereunder and (b) add Franklin Advisors, as investment manager on behalf of certain funds and accounts, and Canyon Capital Advisors, on behalf of its participating funds and accounts, as parties thereto and Backstop Investors thereunder. The Amendment does not amend any of the substantive terms of the Backstop Commitment Agreement, which shall continue in full force and effect except as modified or amended by the Amendment." 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. TROCOM CONSTRUCTION: Hires Maltz Auctions as Auctioneer ------------------------------------------------------- Trocom Construction Corp., seeks authorization from the U.S. Bankruptcy Court for the Eastern District of New York to retain Maltz Auctions as auctioneer. The Debtor requires Maltz to: a. offer the assets, together with any additional items delivered by the Debtor to the auction site for sale, in whole or in part, at one or more public auctions; b. advertise the auction; c. collect the gross proceeds from the sale of the assets and making payment to the Debtor in accordance with the terms of the Sale Procedures Order; and d. follow other terms and conditions of sale as deemed necessary to the orderly and efficient sale of the assets or approved by the Court. As payment for its services, Maltz will be entitled to a commission in the form of a buyer's premium in the amount of 10% of the gross sales price of the assets. Additionally, Maltz will be entitled to recoup reasonable -out-of-pocket expenses, including any bond premium expended and costs associated with transporting the assets to the auction site in an amount not to exceed $20,000 without the consent of the Debtor. Richard B. Maltz, president of Maltz Auctions Inc., d/b/a Maltz Auctions, assured the Court that his 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. Maltz may be reached at: Richard B. Maltz Maltz Auctions Inc. 39 Windsor Place Central Islip, NY 11722 Phone: 516.349.7022 Fax: 516.349.0105 About Trocom Construction Trocom Construction Corp. was formed in 1969 by Salvatore Trovato. The Company is in the heavy construction business. Its primary customer is the City of New York through its various agencies. The Company has 75 employees, the majority of whom are members of various unions. Joseph Trovato is presently the president and holder of 100% of the voting shares of Trocom. Trocom filed a Chapter 11 petition (Bankr. E.D.N.Y. Case No. 15-42145) on May 7, 2015, in Brooklyn, New York. The petition was signed by Joseph Trovato. Judge Nancy Hershey Lord presides over the case. The Debtor is represented by C. Nathan Dee, Esq., at Cullen & Dykman, LLP. The Debtor disclosed total assets of $32,462,383 and total liabilities of $17,184,837 as of the Chapter 11 filing. No official committee of unsecured creditors has been appointed in the case. VIDEO DISPLAY: Unit Files for Chapter 11 Protection --------------------------------------------------- Video Display Corporation's wholly owned subsidiary, Lexel Imaging Systems, Inc., which is based in Lexington, Kentucky filed a voluntary petition under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the Eastern District of Kentucky, Lexington Division, on Feb. 10, 2017. The Lexel's Chapter 11 case is being administered under the caption Lexel Imaging Systems, Inc, a Delaware corporation, et al. (Case No. 17-50240). No trustee has been appointed, and the Debtor will continue to operate their business as "debtor in possession" under the jurisdiction of the Court and in accordance with the applicable provisions of the Bankruptcy Code and orders of the Court. Lexel expects to continue its operations without interruption during the pendency of the Chapter 11 case. To assure ordinary course operations, Lexel is seeking approval from the Court for a variety of "first day" motions seeking various relief and authorizing the Debtor to maintain its operations in the ordinary course. About Video Display Corporation Video Display Corporation is a provider and manufacturer of video products, components, and systems for visual display and presentation of electronic information media in a variety of requirements and environments. The Company designs, engineers, manufactures, markets, distributes and installs technologically advanced display products and systems, from basic components to turnkey systems, for government, military, aerospace, medical, industrial, and commercial organizations. The Company markets its products worldwide primarily from facilities located in the United States. For the nine months ended Nov. 30, 2016, the Company reported a net loss of $815,000 on $7.82 million of net sales compared to a net loss of $5.07 million on $7.67 million of net sales for the nine months ended Nov. 30, 2015. As of Nov. 30, 2016, Video Display had $12.42 million in total assets, $4.77 million in total liabilities and $7.64 million in total shareholders' equity. WALNUT CREEK: Case Summary & 11 Unsecured Creditors --------------------------------------------------- Debtor: Walnut Creek Fertilizer, LLC 405 Pearl Street Walnut, IA 51577 Case No.: 17-00210 Chapter 11 Petition Date: February 17, 2017 Court: United States Bankruptcy Court Southern District of Iowa (Des Moines) Judge: Hon. Lee M. Jackwig Debtor's Counsel: Robert C Gainer, Esq. CUTLER LAW FIRM 1307 50th Street West Des Moines, IA 50266 Tel: (515) 223-6600 Fax: (515) 223-6787 E-mail: rgainer@cutlerfirm.com Estimated Assets: $0 to $50,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Peter Horne, Jr., president. A copy of the Debtor's list of 11 unsecured creditors is available for free at http://bankrupt.com/misc/iasb17-00210.pdf WALTER ENERGY: Court Approves Case Conversion to Chapter 7 ---------------------------------------------------------- BankruptcyData.com reported that the U.S. Bankruptcy Court approved Walter Energy's motion for an order (a) converting the Debtors' Chapter 11 reorganization case to a liquidation under Chapter 7 and (b) granting related relief. The order states, "The Chapter 11 Cases shall be converted to cases under Chapter 7 of the Bankruptcy Code on February 21, 2017 (the 'Conversion Date')." The Debtors requested the conversion order with the following argument: "Having consummated the sale transactions, the Debtors have transferred, or have obligated themselves to transfer, every asset that they own. Since the sale closing, the Debtors have been winding down their Chapter 11 estates. In accordance with the wind down trust agreement established under the asset purchase agreement with Warrior Met Coal, the Debtors have facilitated the orderly wind down of the Debtors' remaining operations and affairs, including the liquidation and collection of substantially all of the Debtors' remaining property…. The Chapter 11 wind down process is now substantially complete. The Debtors are current on their post-petition costs of running the Chapter 11Cases and the post-sale wind-down…. Other than as provided under the global settlement, no prospect of payment of unsecured claims exists. Finally, the Wind Down Trust…expires on its own terms on February 28, 2017." About Walter Energy Walter Energy, Inc. -- http://www.walterenergy.com/-- is a metallurgical coal producer for the global steel industry with strategic access to steel producers in Europe, Asia and South America. The Company also produces thermal coal, anthracite, metallurgical coke and coal bed methane gas, with operations in the United States, Canada and the United Kingdom. For the year ended Dec. 31, 2014, the Company reported a net loss of $471 million following a net loss of $359 million in 2013. Walter Energy and its affiliates sought Chapter 11 protection (Bankr. N.D. Ala. Lead Case No. 15-02741) in Birmingham, Alabama on July 15, 2015, after signing a restructuring support agreement with first-lien lenders. Walter Energy disclosed total assets of $5.2 billion and total debt of $5 billion as of March 31, 2015. The Debtors tapped Paul, Weiss, Rifkind, Wharton & Garrison as counsel; Bradley Arant Boult Cummings LLP, as co-counsel; Ogletree Deakins LLP, as labor and employment counsel; Maynard, Cooper & Gale, P.C., as special counsel; PJT Partners LP serves as investment banker, replacing Blackstone Advisory Services, L.P.; AlixPartners, LLP, as financial advisor, and Kurtzman Carson Consultants LLC, as claims and noticing agent. The Bankruptcy Administrator for the Northern District of Alabama appointed an Official Committee of Unsecured Creditors and an Official Committee of Retirees. The Creditors Committee tapped Morrison & Foerster LLP and Christian & Small LLP as attorneys. The Retiree Committee retained Adams & Reese LLP and Jenner & Block LLP as attorneys. The informal group of certain unaffiliated First Lien Lenders and First Lien Noteholders -- Steering Committee -- retained Akin, Gump, Strauss, Hauer and Feld LLP as legal advisor, and Lazard Freres & Co. LLC as financial advisor. WEATHERFORD INTERNATIONAL: Incurs $3.39 Billion Net Loss in 2016 ---------------------------------------------------------------- Weatherford International public limited company filed with the Securities and Exchange Commission its annual report on Form 10-K disclosing a net loss attributable to the Company of $3.39 billion on $5.74 billion of total revenues for the year ended Dec. 31, 2016, compared to a net loss attributable to the Company of $1.98 billion on $9.43 billion of total revenues for the year ended Dec. 31, 2015. As of Dec. 31, 2016, Weatherford had $12.66 billion in total assets, $10.59 billion in total liabilities and $2.06 billion in total shareholders' equity. At Dec. 31, 2016, the Company had cash and cash equivalents of $1.0 billion compared to $467 million at Dec. 31, 2015, and $474 million at Dec. 31, 2014. For the years ended Dec. 31, 2016, 2015 and 2014, cash balances were impacted negatively by the effect of exchange rate changes by $50 million, $66 million and $74 million, respectively. The 2016 impact was primarily driven by the devaluation of foreign currencies in Angola and Egypt. The 2015 impact was primarily due to devaluations of foreign currencies in Venezuela, Angola, Argentina and Kazakhstan. The 2014 impact was due to the devaluation of the Venezuelan bolivar. A full-text copy of the Form 10-K is available for free at: https://is.gd/gqnA2u About Weatherford Ireland-based Weatherford International plc (NYSE: WFT) -- http://www.weatherford.com/-- is one of the largest multinational oilfield service companies providing innovative solutions, technology and services to the oil and gas industry. The Company operates in over 100 countries and has a network of approximately 1,000 locations, including manufacturing, service, research and development, and training facilities and employs approximately 31,000 people. * * * In November 2016, Fitch Ratings has downgraded the ratings for Weatherford and its subsidiaries, including the companies' Long-Term Issuer Default Ratings (IDRs) to 'CCC' from 'B+'. In November 2016, S&P Global Ratings lowered its corporate credit rating on Weatherford International to 'B+' from 'BB-'. "The downgrade reflects our revised free operating cash flow estimates for Weatherford following weaker-than-anticipated cash inflows in the third quarter," said S&P Global Ratings credit analyst Carin Dehne-Kiley. WESTPORT HOLDINGS: Hires Moore Stephen as Accountants ----------------------------------------------------- Westport Holdings Tampa, Limited Partnership and its debtor affiliates seek permission from the U.S. Bankruptcy Court for the Middle District of Florida to employ Moore Stephen Lovelace CPAs & Advisors as accountants. The Debtors own and operate "University Village," one of Tampa's most established Continuing Care Retirement Communities ("CCRC"). University Village operates under the "continuing care" concept. Residents enter into a residency and care agreement with Holdings which requires payment of a one-time entrance fee (either prospective or deferred) and a monthly service fee. Generally, payment of these fees entitles residents to the use and privileges of the Villages for life but does not entitle the residents to an interest in the real estate or any property owned by Holdings. Residents are entitled to claim income tax deductions for the portion of their annual service fee that can be classified as payment for medical services. The Debtors require Moore Stephens to prepare forms for the residents to claim their available medical deductions. The Debtors have agreed to compensate Moore Stephens $5,000 for the preparation of the reports on an expedited basis, which includes a fee for expedited services. Jeff Goolsby, CPA, of Moore Stephen Lovelace CPAs & Advisors, 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. Moore Stephens can be reached at: Jeff Goolsby, CPA Moore Stephen Lovelace CPAs & Advisors 201 E. Kennedy Blvd., Suite 650 Tampa, FL 33602 Tel No: (813)314-2600 Fax No: (813)314-2610 About Westport Holdings Tampa Westport Holdings Tampa, dba University Village, is a care retirement community in Tampa, Florida. It offers residents villas, apartments, an assisted living facility and a skilled nursing care center for their end of life needs. Westport Holdings Tampa, Limited Partnership and Westport Holdings Tampa II, Limited Partnership filed Chapter 11 petitions (Bankr. M.D. Fla. Case Nos. 16-8167 and 16-8168) on Sept. 22, 2016. The Debtors listed $10 million to $50 million in estimated assets and liabilities. The Debtors are represented by Scott A. Stichter, Esq., and Stephen R. Leslie, Esq., at Stichter Riedel Blain & Postler, P.A. Broad and Cassel has been tapped as as special counsel for healthcare and related litigation matters. Josh Levine CPA serves as accountant. On Oct. 11, 2016, the Acting U.S. Trustee for Region 21 appointed three creditors of Westport Holdings Tampa, Limited Partnership, to serve on the official committee of unsecured creditors. The committee members are Muriel T. Upton Trust, Darrell D. Ballard, and Thomas M. Allensworth, Jr. On Dec. 29, 2016, the Acting U.S. Trustee for Region 2 appointed seven creditors of the Debtors to serve on the committee of resident creditors. An examiner has been appointed in the Debtors' cases. Adam Lawton Alpert, Esq. of Bush Ross, P.A., serves as legal counsel to the examiner. YU HUA LONG: Trustee Taps R.Y. Properties as Property Consultant ---------------------------------------------------------------- Timothy J. Yoo, the Chapter 11 Trustee for Yu Hua Long Investments LLC, seeks permission from the U.S. Bankruptcy Court for the Central District of California to employ R.Y. Properties, Inc., as his real property consultant. The Chapter 11 Trustee requires R.Y. Properties to review and advise him regarding matters relating to the real property, including but not limited to the current circumstances of agreements, permits and other entitlements relating to the development project; the highest and best use of the real property; need and options for development of the property in the best interest of the bankruptcy estate and holders 11 of claims and interests; and related matters as requested by the Trustee. R.Y. Properties will be compensated at the rate of $300 per hour for its services. R.Y. Properties will also be reimbursed for reasonable out-of-pocket expenses incurred. Robert Yu, president and owner of R.Y. Properties, Inc., assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtor and its estates. R.Y. Properties may be reached at: Robert Yu R.Y. Properties, Inc. 212 S. 12 Palm Avenue, Suite 200 Alhambra, CA 91801 Tel: (626) 282-3100 About Yu Hua Long Yu Hua Long Investments LLC filed a Chapter 11 petition (Bankr. C.D. Cal. Case No. 16-22745) on September 26, 2016, disclosing under $1 million in both assets and liabilities. Timothy J. Yoo has been named as Chapter 11 trustee for the Debtor's case. Levene Neale Bender Yoo & Brill, LLP represents the trustee as general bankruptcy counsel. [*] Gerard Catalanello, James Vincequerra Join Alston & Bird in NY ------------------------------------------------------------------ Alston & Bird LLP has expanded its bankruptcy and financial restructuring capabilities with the addition of Gerard Catalanello and James Vincequerra as partners in the firm's New York office. Both join from Duane Morris LLP. "Gerard and Jim are immensely talented attorneys with a long record of successfully representing creditors, debtors and other parties in complicated insolvencies and restructurings across a broad range of industries, including financial services, retail, real estate and telecommunications," said Kit Weitnauer, leader of Alston & Bird's Bankruptcy & Financial Restructuring Group. "At a time of increasing client demand for services that leverage both our bankruptcy and finance capabilities, particularly with regard to structured finance creditor representations, Gerard and Jim have built a strong creditor-side bankruptcy practice that makes an excellent fit for our firm and our clients." Mr. Catalanello represents a broad range of clients -- debtors, financial institutions, liquidation trusts, equity holders, indenture trustees and acquirers of assets of troubled companies -- in bankruptcy proceedings, as well as in out-of-court workouts. He has served as counsel to official committees of unsecured creditors in a variety of Chapter 11 cases and has represented several institutions in negotiating and selling millions of dollars of claims in major Chapter 11 cases. He is a frequent writer on creditors' rights and bankruptcy topics and has been published in the Journal of Bankruptcy Law and Practice, New York State Bar Journal, Health Law Journal and the New York Law Journal. Mr. Vincequerra represents debtors, creditors and their committees, bondholders and asset acquirers in corporate and debt restructurings, distressed mergers and acquisitions and bankruptcy cases, both in and out of court. He has significant experience working with clients to enhance their competitiveness through strategic bankruptcy asset acquisitions and advising premier lending institutions, rating agencies and borrowers in high-stakes transactions in the structured finance arena, specifically with substantive consolidation analyses concerning commercial mortgage-backed securities and securitized loans. "Gerard and Jim have an outstanding command of all aspects of out-of-court workouts, bankruptcies and reorganizations," said Jamie Hutchinson, partner in charge of Alston & Bird's New York office. "In New York in particular, where we see a growing trend among structured finance clients for services tied to workouts of securitized transactions and bankruptcies, Gerard and Jim will be a strong complement to our market-leading finance practice and play a key role advising clients on pragmatic and creative approaches to deal-making." Messrs. Catalanello and Vincequerra are the most recent additions to Alston & Bird's New York office. In December 2016, the firm added Adam Kaiser and John Aerni as partners in its Litigation Practice. They followed the November arrival of Michael Saarinen as partner in the firm's Investment Management, Trading & Markets Group. Mr. Catalanello can be reached at: Gerard S. Catalanello Partner Bankruptcy & Financial Restructuring ALSTON & BIRD LLP Tel: 212-210-9509 Fax: 212-210-9444 E-mail: gerard.catalanello@alston.com Mr. Vincequerra can be reached at: James J. Vincequerra Partner Bankruptcy & Financial Restructuring ALSTON & BIRD LLP Tel: 212-210-9503 Fax: 212-210-9444 E-mail: james.vincequerra@alston.com About Alston & Bird Alston & Bird LLP -- http://www.alston.com/-- is a law firm based in Atlanta, Georgia. Founded in 1893, the firm has offices in Atlanta, New York City, Washington, DC, Brussels, Charlotte, Raleigh, Dallas, Los Angeles, Beijing, and Silicon Valley. []Glay Collier II To Spend More Time in Prison, 5th Circuit Rules ----------------------------------------------------------------- William Gorta, writing for Bankruptcy Law360, reports that the U.S. Court of Appeals for the Fifth Circuit ruled on Feb. 14, 2017, that former personal bankruptcy lawyer Glay H. Collier II will have to spend more time in prison than the guidelines suggested because he accepted the wrong enhancement level at sentencing. As reported by the Troubled Company Reporter on Jan. 30, 2017, Stewart Bishop, writing for Bankruptcy Law360, reported that the Fifth Circuit rebuffed an appeal by Mr. Collier of his almost three-year prison sentence for reaping undisclosed fees from clients in nearly 500 cases, finding he has waived his right to challenge his sentence calculation. Mr. Collier, the report noted, pled guilty to one count of bankruptcy fraud after he was accused of pocketing undisclosed $281 filing fees from clients in 479 cases. Law360 relates that the government calculated the intended loss of his crime at $115,000, good for a sentence enhancement of 10 levels. [^] Large Companies with Insolvent Balance Sheet ------------------------------------------------ Total Share- Total Total Holders' Working Assets Equity Capital Company Ticker ($MM) ($MM) ($MM) ABSOLUTE SOFTWRE ABT2EUR EU Equity 98.6 (49.8) (31.0) ABSOLUTE SOFTWRE OU1 GR Equity 98.6 (49.8) (31.0) ABSOLUTE SOFTWRE ALSWF US Equity 98.6 (49.8) (31.0) ABSOLUTE SOFTWRE ABT CN Equity 98.6 (49.8) (31.0) ADVANCED EMISSIO ADES US Equity 40.5 (0.3) (1.4) ADVANCED EMISSIO OXQ1 GR Equity 40.5 (0.3) (1.4) ADVANCEPIERRE FO 1AC GR Equity 1,210.5 (329.7) 254.3 ADVANCEPIERRE FO APFH US Equity 1,210.5 (329.7) 254.3 ADVANCEPIERRE FO APFHEUR EU Equity 1,210.5 (329.7) 254.3 AEROJET ROCKETDY GCY GR Equity 1,952.0 (63.9) 82.6 AEROJET ROCKETDY AJRDEUR EU Equity 1,952.0 (63.9) 82.6 AEROJET ROCKETDY GCY TH Equity 1,952.0 (63.9) 82.6 AEROJET ROCKETDY AJRD US Equity 1,952.0 (63.9) 82.6 AGENUS INC AGEN US Equity 174.8 (21.0) 74.7 AGENUS INC AJ81 TH Equity 174.8 (21.0) 74.7 AGENUS INC AGENEUR EU Equity 174.8 (21.0) 74.7 AGENUS INC AJ81 GR Equity 174.8 (21.0) 74.7 AGENUS INC AJ81 QT Equity 174.8 (21.0) 74.7 ALTERNATE HEALTH AHG CN Equity 0.0 (0.0) (0.0) AMER RESTAUR-LP ICTPU US Equity 33.5 (4.0) (6.2) ARIAD PHARM APS TH Equity 676.6 (46.3) 240.4 ARIAD PHARM ARIA US Equity 676.6 (46.3) 240.4 ARIAD PHARM ARIAEUR EU Equity 676.6 (46.3) 240.4 ARIAD PHARM APS GR Equity 676.6 (46.3) 240.4 ARIAD PHARM APS QT Equity 676.6 (46.3) 240.4 ARIAD PHARM ARIA SW Equity 676.6 (46.3) 240.4 ARIAD PHARM ARIACHF EU Equity 676.6 (46.3) 240.4 ASCENT SOLAR TEC ASTIEUR EU Equity 12.4 (12.1) (14.5) ASPEN TECHNOLOGY AZPN US Equity 267.4 (192.9) (226.6) ASPEN TECHNOLOGY AZPNEUR EU Equity 267.4 (192.9) (226.6) ASPEN TECHNOLOGY AST GR Equity 267.4 (192.9) (226.6) ASPEN TECHNOLOGY AST TH Equity 267.4 (192.9) (226.6) AUTOZONE INC AZOEUR EU Equity 8,742.5 (1,895.2) (481.5) AUTOZONE INC AZO US Equity 8,742.5 (1,895.2) (481.5) AUTOZONE INC AZ5 TH Equity 8,742.5 (1,895.2) (481.5) AUTOZONE INC AZ5 QT Equity 8,742.5 (1,895.2) (481.5) AUTOZONE INC AZ5 GR Equity 8,742.5 (1,895.2) (481.5) AVID TECHNOLOGY AVID US Equity 262.9 (272.7) (91.6) AVID TECHNOLOGY AVD GR Equity 262.9 (272.7) (91.6) AVISTA HEALTH-A AHPA US Equity 0.8 (0.0) (0.7) AVISTA HEALTHCAR AWF GR Equity 0.8 (0.0) (0.7) AVISTA HEALTHCAR AHPAUEUR EU Equity 0.8 (0.0) (0.7) AVISTA HEALTHCAR AHPAU US Equity 0.8 (0.0) (0.7) AVON - BDR AVON34 BZ Equity 3,418.9 (391.5) 506.6 AVON PRODUCTS AVP CI Equity 3,418.9 (391.5) 506.6 AVON PRODUCTS AVP* MM Equity 3,418.9 (391.5) 506.6 AVON PRODUCTS AVP QT Equity 3,418.9 (391.5) 506.6 AVON PRODUCTS AVP US Equity 3,418.9 (391.5) 506.6 AVON PRODUCTS AVP1EUR EU Equity 3,418.9 (391.5) 506.6 AVON PRODUCTS AVP TH Equity 3,418.9 (391.5) 506.6 AVON PRODUCTS AVP GR Equity 3,418.9 (391.5) 506.6 AXIM BIOTECHNOLO AXIM US Equity 1.2 (3.2) (3.0) BARRACUDA NETWOR CUDA US Equity 453.7 (5.0) (3.8) BARRACUDA NETWOR 7BM GR Equity 453.7 (5.0) (3.8) BARRACUDA NETWOR CUDAEUR EU Equity 453.7 (5.0) (3.8) BASIC ENERGY SVS B8JN GR Equity 1,003.0 (152.3) (869.2) BASIC ENERGY SVS BASEUR EU Equity 1,003.0 (152.3) (869.2) BASIC ENERGY SVS B8JN TH Equity 1,003.0 (152.3) (869.2) BASIC ENERGY SVS BAS US Equity 1,003.0 (152.3) (869.2) BENEFITFOCUS INC BTF GR Equity 153.4 (35.4) 4.3 BENEFITFOCUS INC BNFT US Equity 153.4 (35.4) 4.3 BLUE BIRD CORP BLBD US Equity 257.8 (93.1) (0.2) BOMBARDIER INC-B BBDBN MM Equity 22,826.0 (3,489.0) 1,363.0 BOMBARDIER-B OLD BBDYB BB Equity 22,826.0 (3,489.0) 1,363.0 BOMBARDIER-B W/I BBD/W CN Equity 22,826.0 (3,489.0) 1,363.0 BRINKER INTL EAT US Equity 1,498.1 (530.6) (245.5) BRINKER INTL EAT2EUR EU Equity 1,498.1 (530.6) (245.5) BRINKER INTL BKJ GR Equity 1,498.1 (530.6) (245.5) BRINKER INTL BKJ QT Equity 1,498.1 (530.6) (245.5) BROOKFIELD REAL BRE CN Equity 97.2 (33.5) 1.6 BUFFALO COAL COR BUC SJ Equity 50.0 (20.4) (18.0) BURLINGTON STORE BUI GR Equity 2,688.1 (135.4) 27.2 BURLINGTON STORE BURL US Equity 2,688.1 (135.4) 27.2 BURLINGTON STORE BURL* MM Equity 2,688.1 (135.4) 27.2 CADIZ INC CDZI US Equity 59.0 (70.2) (39.7) CADIZ INC 2ZC GR Equity 59.0 (70.2) (39.7) CAESARS ENTERTAI C08 GR Equity 14,894.0 (1,418.0) (2,760.0) CAESARS ENTERTAI CZR US Equity 14,894.0 (1,418.0) (2,760.0) CALIFORNIA RESOU CRCEUR EU Equity 6,332.0 (493.0) (302.0) CALIFORNIA RESOU 1CL TH Equity 6,332.0 (493.0) (302.0) CALIFORNIA RESOU 1CLB GR Equity 6,332.0 (493.0) (302.0) CALIFORNIA RESOU CRC US Equity 6,332.0 (493.0) (302.0) CAMBIUM LEARNING ABCD US Equity 159.5 (65.5) (49.9) CAMPING WORLD-A C83 GR Equity 1,367.5 (354.3) 197.2 CAMPING WORLD-A CWH US Equity 1,367.5 (354.3) 197.2 CAMPING WORLD-A CWHEUR EU Equity 1,367.5 (354.3) 197.2 CANNABICS PHARMA CNBX US Equity 0.3 (0.2) (0.2) CANNABICS PHARMA CNBXEUR EU Equity 0.3 (0.2) (0.2) CANNABICS PHARMA 8C8 GR Equity 0.3 (0.2) (0.2) CARDCONNECT CORP CCNEUR EU Equity 157.6 (42.9) 16.4 CARDCONNECT CORP 55C GR Equity 157.6 (42.9) 16.4 CARDCONNECT CORP CCN US Equity 157.6 (42.9) 16.4 CARRIZO OIL&GAS CRZO US Equity 1,420.5 (205.4) (152.2) CARRIZO OIL&GAS CO1 TH Equity 1,420.5 (205.4) (152.2) CARRIZO OIL&GAS CO1 GR Equity 1,420.5 (205.4) (152.2) CARRIZO OIL&GAS CRZOEUR EU Equity 1,420.5 (205.4) (152.2) CASELLA WASTE CWST US Equity 635.3 (13.9) 2.2 CASELLA WASTE WA3 GR Equity 635.3 (13.9) 2.2 CEB INC CEB US Equity 1,467.4 (85.8) (123.7) CEB INC FC9 GR Equity 1,467.4 (85.8) (123.7) CHESAPEAKE ENERG CHK US Equity 12,523.0 (932.0) (2,539.0) CHESAPEAKE ENERG CHK* MM Equity 12,523.0 (932.0) (2,539.0) CHESAPEAKE ENERG CS1 TH Equity 12,523.0 (932.0) (2,539.0) CHESAPEAKE ENERG CHKEUR EU Equity 12,523.0 (932.0) (2,539.0) CHESAPEAKE ENERG CS1 GR Equity 12,523.0 (932.0) (2,539.0) CHOICE HOTELS CHH US Equity 852.5 (311.3) 81.2 CHOICE HOTELS CZH GR Equity 852.5 (311.3) 81.2 CINCINNATI BELL CBB US Equity 1,529.9 (194.8) (40.7) CINCINNATI BELL CIB1 GR Equity 1,529.9 (194.8) (40.7) CINCINNATI BELL CBBEUR EU Equity 1,529.9 (194.8) (40.7) CLEAR CHANNEL-A CCO US Equity 5,675.6 (995.0) 616.1 CLEAR CHANNEL-A C7C GR Equity 5,675.6 (995.0) 616.1 CLIFFS NATURAL R CLF2EUR EU Equity 1,923.9 (1,330.5) 433.5 CLIFFS NATURAL R CLF US Equity 1,923.9 (1,330.5) 433.5 CLIFFS NATURAL R CLF* MM Equity 1,923.9 (1,330.5) 433.5 CLIFFS NATURAL R CVA TH Equity 1,923.9 (1,330.5) 433.5 CLIFFS NATURAL R CVA GR Equity 1,923.9 (1,330.5) 433.5 CLIFFS NATURAL R CVA QT Equity 1,923.9 (1,330.5) 433.5 COGENT COMMUNICA OGM1 GR Equity 617.6 (40.5) 140.3 COGENT COMMUNICA CCOI US Equity 617.6 (40.5) 140.3 COMMUNICATION 8XC GR Equity 3,217.5 (1,287.0) - COMMUNICATION CSAL US Equity 3,217.5 (1,287.0) - CONTURA ENERGY I CNTE US Equity 827.7 (4.6) 56.6 CORGREEN TECHNOL CGRT US Equity 2.9 (0.2) (0.6) CPI CARD GROUP I CPB GR Equity 270.7 (89.0) 58.7 CPI CARD GROUP I PMTS US Equity 270.7 (89.0) 58.7 CPI CARD GROUP I PMTS CN Equity 270.7 (89.0) 58.7 CROWN BAUS CAPIT CBCA US Equity 0.0 (0.0) (0.0) DELEK LOGISTICS D6L GR Equity 393.2 (14.0) 4.8 DELEK LOGISTICS DKL US Equity 393.2 (14.0) 4.8 DENNY'S CORP DE8 GR Equity 306.2 (71.1) (57.5) DENNY'S CORP DENN US Equity 306.2 (71.1) (57.5) DOMINO'S PIZZA EZV GR Equity 676.6 (1,936.1) 62.1 DOMINO'S PIZZA EZV QT Equity 676.6 (1,936.1) 62.1 DOMINO'S PIZZA EZV TH Equity 676.6 (1,936.1) 62.1 DOMINO'S PIZZA DPZ US Equity 676.6 (1,936.1) 62.1 DUN & BRADSTREET DNB US Equity 2,016.9 (1,054.3) (151.7) DUN & BRADSTREET DNB1EUR EU Equity 2,016.9 (1,054.3) (151.7) DUN & BRADSTREET DB5 GR Equity 2,016.9 (1,054.3) (151.7) DUN & BRADSTREET DB5 TH Equity 2,016.9 (1,054.3) (151.7) DUNKIN' BRANDS G DNKN US Equity 3,227.4 (163.3) 182.2 DUNKIN' BRANDS G DNKNEUR EU Equity 3,227.4 (163.3) 182.2 DUNKIN' BRANDS G 2DB GR Equity 3,227.4 (163.3) 182.2 DUNKIN' BRANDS G 2DB TH Equity 3,227.4 (163.3) 182.2 EASTMAN KODAK CO KODN GR Equity 1,981.0 (23.0) 814.0 EASTMAN KODAK CO KODK US Equity 1,981.0 (23.0) 814.0 ERIN ENERGY CORP U8P2 GR Equity 342.4 (161.2) (255.1) ERIN ENERGY CORP ERN US Equity 342.4 (161.2) (255.1) ERIN ENERGY CORP ERN SJ Equity 342.4 (161.2) (255.1) FAIRMOUNT SANTRO FM1 GR Equity 1,239.0 (13.3) 284.0 FAIRMOUNT SANTRO FMSAEUR EU Equity 1,239.0 (13.3) 284.0 FAIRMOUNT SANTRO FMSA US Equity 1,239.0 (13.3) 284.0 FAIRPOINT COMMUN FONN GR Equity 1,248.8 (41.0) 11.0 FAIRPOINT COMMUN FRP US Equity 1,248.8 (41.0) 11.0 FERRELLGAS-LP FGP US Equity 1,667.2 (746.9) (123.1) FERRELLGAS-LP FEG GR Equity 1,667.2 (746.9) (123.1) FORESIGHT ENERGY FHR GR Equity 1,735.8 (70.0) 55.4 FORESIGHT ENERGY FELP US Equity 1,735.8 (70.0) 55.4 GAMCO INVESTO-A GBL US Equity 149.2 (166.6) - GARTNER INC GGRA GR Equity 2,277.7 (10.5) (171.5) GARTNER INC IT* MM Equity 2,277.7 (10.5) (171.5) GARTNER INC IT US Equity 2,277.7 (10.5) (171.5) GCP APPLIED TECH GCP US Equity 1,061.0 (118.4) 282.5 GCP APPLIED TECH 43G GR Equity 1,061.0 (118.4) 282.5 GENESIS HEALTHCA SH11 GR Equity 5,886.6 (771.5) 237.4 GENESIS HEALTHCA GEN US Equity 5,886.6 (771.5) 237.4 GIYANI GOLD CORP GGC NW Equity 1.7 (0.4) (0.5) GNC HOLDINGS INC GNC US Equity 2,068.6 (95.0) 491.5 GNC HOLDINGS INC IGN GR Equity 2,068.6 (95.0) 491.5 GOGO INC GOGO US Equity 1,224.2 (18.0) 398.4 GOGO INC G0G QT Equity 1,224.2 (18.0) 398.4 GOGO INC G0G GR Equity 1,224.2 (18.0) 398.4 GREEN PLAINS PAR 8GP GR Equity 93.8 (64.2) 5.0 GREEN PLAINS PAR GPP US Equity 93.8 (64.2) 5.0 GUIDANCE SOFTWAR ZTT GR Equity 74.4 (0.1) (19.2) GUIDANCE SOFTWAR GUID US Equity 74.4 (0.1) (19.2) H&R BLOCK INC HRB US Equity 2,082.2 (557.5) 268.6 H&R BLOCK INC HRB TH Equity 2,082.2 (557.5) 268.6 H&R BLOCK INC HRBEUR EU Equity 2,082.2 (557.5) 268.6 H&R BLOCK INC HRB GR Equity 2,082.2 (557.5) 268.6 HALOZYME THERAPE RV7 QT Equity 282.5 (12.0) 219.9 HALOZYME THERAPE RV7 GR Equity 282.5 (12.0) 219.9 HALOZYME THERAPE HALO US Equity 282.5 (12.0) 219.9 HALOZYME THERAPE HALOEUR EU Equity 282.5 (12.0) 219.9 HCA HOLDINGS INC HCAEUR EU Equity 33,758.0 (5,633.0) 3,252.0 HCA HOLDINGS INC 2BH GR Equity 33,758.0 (5,633.0) 3,252.0 HCA HOLDINGS INC 2BH TH Equity 33,758.0 (5,633.0) 3,252.0 HCA HOLDINGS INC HCA US Equity 33,758.0 (5,633.0) 3,252.0 HCA HOLDINGS INC 2BH QT Equity 33,758.0 (5,633.0) 3,252.0 HOVNANIAN-A-WI HOV-W US Equity 2,379.4 (128.5) 1,291.2 HP COMPANY-BDR HPQB34 BZ Equity 29,010.0 (3,889.0) (340.0) HP INC HPQCHF EU Equity 29,010.0 (3,889.0) (340.0) HP INC HPQ US Equity 29,010.0 (3,889.0) (340.0) HP INC HPQUSD SW Equity 29,010.0 (3,889.0) (340.0) HP INC HPQEUR EU Equity 29,010.0 (3,889.0) (340.0) HP INC 7HP GR Equity 29,010.0 (3,889.0) (340.0) HP INC HPQ CI Equity 29,010.0 (3,889.0) (340.0) HP INC 7HP TH Equity 29,010.0 (3,889.0) (340.0) HP INC HPQ* MM Equity 29,010.0 (3,889.0) (340.0) HP INC HPQ TE Equity 29,010.0 (3,889.0) (340.0) HP INC HPQ SW Equity 29,010.0 (3,889.0) (340.0) HP INC HWP QT Equity 29,010.0 (3,889.0) (340.0) IBI GROUP INC IBG CN Equity 271.9 (17.5) 41.6 IBI GROUP INC IBIBF US Equity 271.9 (17.5) 41.6 IDEXX LABS IX1 TH Equity 1,530.7 (108.2) (89.0) IDEXX LABS IX1 GR Equity 1,530.7 (108.2) (89.0) IDEXX LABS IDXX US Equity 1,530.7 (108.2) (89.0) IDEXX LABS IX1 QT Equity 1,530.7 (108.2) (89.0) IMMUNOMEDICS INC IMMU US Equity 53.1 (75.2) 20.0 IMMUNOMEDICS INC IM3 TH Equity 53.1 (75.2) 20.0 IMMUNOMEDICS INC IM3 GR Equity 53.1 (75.2) 20.0 INFOR ACQUISIT-A IAC/A CN Equity 233.1 (3.8) 0.6 INFOR ACQUISITIO IAC-U CN Equity 233.1 (3.8) 0.6 INNOVIVA INC HVE GR Equity 379.0 (353.0) 186.6 INNOVIVA INC INVA US Equity 379.0 (353.0) 186.6 INNOVIVA INC INVAEUR EU Equity 379.0 (353.0) 186.6 INTERNATIONAL WI ITWG US Equity 324.8 (12.0) 99.6 INTERUPS INC ITUP US Equity 0.0 (2.4) (2.4) IRHYTHM TECHNOLO I25 GR Equity 28.7 (14.2) 12.5 IRHYTHM TECHNOLO IRTCEUR EU Equity 28.7 (14.2) 12.5 IRHYTHM TECHNOLO IRTC US Equity 28.7 (14.2) 12.5 JACK IN THE BOX JBX GR Equity 1,348.8 (217.2) (124.2) JACK IN THE BOX JACK1EUR EU Equity 1,348.8 (217.2) (124.2) JACK IN THE BOX JACK US Equity 1,348.8 (217.2) (124.2) JUST ENERGY GROU JE CN Equity 1,287.8 (209.6) 104.5 JUST ENERGY GROU JE US Equity 1,287.8 (209.6) 104.5 JUST ENERGY GROU 1JE GR Equity 1,287.8 (209.6) 104.5 KADMON HOLDINGS KDF GR Equity 86.8 (8.8) 26.1 KADMON HOLDINGS KDMNEUR EU Equity 86.8 (8.8) 26.1 KADMON HOLDINGS KDMN US Equity 86.8 (8.8) 26.1 KEY ENERGY SERV KEGEUR EU Equity 995.6 (163.1) (864.7) KEY ENERGY SERV KEG US Equity 995.6 (163.1) (864.7) L BRANDS INC LBEUR EU Equity 7,663.0 (1,188.0) 879.0 L BRANDS INC LB US Equity 7,663.0 (1,188.0) 879.0 L BRANDS INC LB* MM Equity 7,663.0 (1,188.0) 879.0 L BRANDS INC LTD TH Equity 7,663.0 (1,188.0) 879.0 L BRANDS INC LTD GR Equity 7,663.0 (1,188.0) 879.0 L BRANDS INC LTD QT Equity 7,663.0 (1,188.0) 879.0 LAMB WESTON LW-WEUR EU Equity 2,400.2 (708.6) 330.9 LAMB WESTON 0L5 TH Equity 2,400.2 (708.6) 330.9 LAMB WESTON LW US Equity 2,400.2 (708.6) 330.9 LAMB WESTON 0L5 GR Equity 2,400.2 (708.6) 330.9 LANTHEUS HOLDING LNTH US Equity 255.0 (121.2) 71.3 LANTHEUS HOLDING 0L8 GR Equity 255.0 (121.2) 71.3 MADISON-A/NEW-WI MSGN-W US Equity 854.1 (1,033.7) 217.3 MANITOWOC FOOD MFS US Equity 1,769.1 (43.5) (4.9) MANITOWOC FOOD MFS1EUR EU Equity 1,769.1 (43.5) (4.9) MANITOWOC FOOD 6M6 GR Equity 1,769.1 (43.5) (4.9) MANNKIND CORP MNKD IT Equity 96.1 (238.7) (57.2) MASCO CORP MSQ QT Equity 5,137.0 (103.0) 1,474.0 MASCO CORP MAS1EUR EU Equity 5,137.0 (103.0) 1,474.0 MASCO CORP MSQ GR Equity 5,137.0 (103.0) 1,474.0 MASCO CORP MAS* MM Equity 5,137.0 (103.0) 1,474.0 MASCO CORP MSQ TH Equity 5,137.0 (103.0) 1,474.0 MASCO CORP MAS US Equity 5,137.0 (103.0) 1,474.0 MCDONALDS - BDR MCDC34 BZ Equity 32,486.9 (1,624.1) (174.6) MCDONALDS CORP MCDUSD SW Equity 32,486.9 (1,624.1) (174.6) MCDONALDS CORP MCD* MM Equity 32,486.9 (1,624.1) (174.6) MCDONALDS CORP MDO QT Equity 32,486.9 (1,624.1) (174.6) MCDONALDS CORP MCD TE Equity 32,486.9 (1,624.1) (174.6) MCDONALDS CORP MDO GR Equity 32,486.9 (1,624.1) (174.6) MCDONALDS CORP MCDEUR EU Equity 32,486.9 (1,624.1) (174.6) MCDONALDS CORP MDO TH Equity 32,486.9 (1,624.1) (174.6) MCDONALDS CORP MCD CI Equity 32,486.9 (1,624.1) (174.6) MCDONALDS CORP MCD US Equity 32,486.9 (1,624.1) (174.6) MCDONALDS CORP MCDCHF EU Equity 32,486.9 (1,624.1) (174.6) MCDONALDS CORP MCD SW Equity 32,486.9 (1,624.1) (174.6) MCDONALDS-CEDEAR MCD AR Equity 32,486.9 (1,624.1) (174.6) MDC COMM-W/I MDZ/W CN Equity 1,642.3 (451.7) (319.2) MDC PARTNERS-A MD7A GR Equity 1,642.3 (451.7) (319.2) MDC PARTNERS-A MDZ/A CN Equity 1,642.3 (451.7) (319.2) MDC PARTNERS-A MDCAEUR EU Equity 1,642.3 (451.7) (319.2) MDC PARTNERS-A MDCA US Equity 1,642.3 (451.7) (319.2) MDC PARTNERS-EXC MDZ/N CN Equity 1,642.3 (451.7) (319.2) MEAD JOHNSON MJN US Equity 4,087.7 (472.1) 1,462.4 MEAD JOHNSON 0MJA QT Equity 4,087.7 (472.1) 1,462.4 MEAD JOHNSON MJNEUR EU Equity 4,087.7 (472.1) 1,462.4 MEAD JOHNSON 0MJA GR Equity 4,087.7 (472.1) 1,462.4 MEAD JOHNSON 0MJA TH Equity 4,087.7 (472.1) 1,462.4 MEDLEY MANAGE-A MDLY US Equity 116.6 (23.4) 35.7 MERITOR INC AID1 GR Equity 2,394.0 (185.0) 154.0 MERITOR INC AID1 QT Equity 2,394.0 (185.0) 154.0 MERITOR INC MTOREUR EU Equity 2,394.0 (185.0) 154.0 MERITOR INC MTOR US Equity 2,394.0 (185.0) 154.0 MERRIMACK PHARMA MACK US Equity 118.4 (227.1) 1.3 MICHAELS COS INC MIM GR Equity 2,291.5 (1,659.5) 576.1 MICHAELS COS INC MIK US Equity 2,291.5 (1,659.5) 576.1 MIDSTATES PETROL MPO US Equity 695.7 (1,533.1) 1.8 MIRAGEN THERAPEU SGNLEUR EU Equity 7.5 4.7 3.7 MIRAGEN THERAPEU 1S1 GR Equity 7.5 4.7 3.7 MIRAGEN THERAPEU MGEN US Equity 7.5 4.7 3.7 MONEYGRAM INTERN 9M1N QT Equity 4,426.1 (208.5) 2.7 MONEYGRAM INTERN MGI US Equity 4,426.1 (208.5) 2.7 MOODY'S CORP MCO US Equity 5,327.3 (1,027.3) 824.9 MOODY'S CORP DUT TH Equity 5,327.3 (1,027.3) 824.9 MOODY'S CORP MCOEUR EU Equity 5,327.3 (1,027.3) 824.9 MOODY'S CORP DUT GR Equity 5,327.3 (1,027.3) 824.9 MOODY'S CORP DUT QT Equity 5,327.3 (1,027.3) 824.9 MOTOROLA SOLUTIO MTLA TH Equity 8,425.0 (952.0) 800.0 MOTOROLA SOLUTIO MSI US Equity 8,425.0 (952.0) 800.0 MOTOROLA SOLUTIO MOT TE Equity 8,425.0 (952.0) 800.0 MOTOROLA SOLUTIO MSI1EUR EU Equity 8,425.0 (952.0) 800.0 MOTOROLA SOLUTIO MTLA GR Equity 8,425.0 (952.0) 800.0 MSG NETWORKS- A MSGN US Equity 854.1 (1,033.7) 217.3 MSG NETWORKS- A 1M4 GR Equity 854.1 (1,033.7) 217.3 MSG NETWORKS- A MSGNEUR EU Equity 854.1 (1,033.7) 217.3 MSG NETWORKS- A 1M4 TH Equity 854.1 (1,033.7) 217.3 NANOSTRING TECHN NSTG US Equity 102.3 (6.6) 61.9 NANOSTRING TECHN 0F1 GR Equity 102.3 (6.6) 61.9 NANOSTRING TECHN NSTGEUR EU Equity 102.3 (6.6) 61.9 NATHANS FAMOUS NATH US Equity 78.3 (67.3) 55.7 NATHANS FAMOUS NFA GR Equity 78.3 (67.3) 55.7 NATIONAL CINEMED XWM GR Equity 1,029.8 (181.3) 75.4 NATIONAL CINEMED NCMI US Equity 1,029.8 (181.3) 75.4 NAVIDEA BIOPHARM NAVB IT Equity 11.2 (63.8) (54.3) NAVISTAR INTL NAV US Equity 5,653.0 (5,293.0) 556.0 NAVISTAR INTL IHR TH Equity 5,653.0 (5,293.0) 556.0 NAVISTAR INTL IHR QT Equity 5,653.0 (5,293.0) 556.0 NAVISTAR INTL IHR GR Equity 5,653.0 (5,293.0) 556.0 NEFF CORP-CL A NFO GR Equity 673.2 (150.2) 19.8 NEFF CORP-CL A NEFF US Equity 673.2 (150.2) 19.8 NEKTAR THERAPEUT NKTR US Equity 425.1 (67.9) 206.2 NEKTAR THERAPEUT ITH GR Equity 425.1 (67.9) 206.2 NEW ENG RLTY-LP NEN US Equity 192.7 (30.9) - NORTHERN OIL AND NOG US Equity 410.4 (476.1) (26.3) OCH-ZIFF CAPIT-A OZM US Equity 1,388.3 (251.3) - OMEROS CORP 3O8 TH Equity 72.8 (22.8) 44.6 OMEROS CORP 3O8 GR Equity 72.8 (22.8) 44.6 OMEROS CORP OMER US Equity 72.8 (22.8) 44.6 OMEROS CORP OMEREUR EU Equity 72.8 (22.8) 44.6 ONCOMED PHARMACE OMED US Equity 218.2 (3.2) 157.2 ONCOMED PHARMACE O0M GR Equity 218.2 (3.2) 157.2 OPHTH0TECH CORP OPHT US Equity 350.6 (36.6) 289.8 PAPA JOHN'S INTL PP1 GR Equity 498.8 (2.8) 17.6 PAPA JOHN'S INTL PZZA US Equity 498.8 (2.8) 17.6 PENN NATL GAMING PENN US Equity 5,251.7 (553.9) (199.9) PENN NATL GAMING PN1 GR Equity 5,251.7 (553.9) (199.9) PHILIP MORRIS IN 4I1 GR Equity 36,851.0 (10,900.0) 1,141.0 PHILIP MORRIS IN PMI EB Equity 36,851.0 (10,900.0) 1,141.0 PHILIP MORRIS IN PM US Equity 36,851.0 (10,900.0) 1,141.0 PHILIP MORRIS IN PM1 TE Equity 36,851.0 (10,900.0) 1,141.0 PHILIP MORRIS IN 4I1 TH Equity 36,851.0 (10,900.0) 1,141.0 PHILIP MORRIS IN PM FP Equity 36,851.0 (10,900.0) 1,141.0 PHILIP MORRIS IN PM1CHF EU Equity 36,851.0 (10,900.0) 1,141.0 PHILIP MORRIS IN PM1EUR EU Equity 36,851.0 (10,900.0) 1,141.0 PHILIP MORRIS IN PMI1 IX Equity 36,851.0 (10,900.0) 1,141.0 PHILIP MORRIS IN PMI SW Equity 36,851.0 (10,900.0) 1,141.0 PHILIP MORRIS IN 4I1 QT Equity 36,851.0 (10,900.0) 1,141.0 PINNACLE ENTERTA 65P GR Equity 4,101.2 (356.9) (120.4) PINNACLE ENTERTA PNK US Equity 4,101.2 (356.9) (120.4) PITNEY BOWES INC PBW TH Equity 5,839.7 (101.2) (6.0) PITNEY BOWES INC PBIEUR EU Equity 5,839.7 (101.2) (6.0) PITNEY BOWES INC PBW GR Equity 5,839.7 (101.2) (6.0) PITNEY BOWES INC PBI US Equity 5,839.7 (101.2) (6.0) PLY GEM HOLDINGS PGEM US Equity 1,348.9 (2.9) 310.6 PLY GEM HOLDINGS PG6 GR Equity 1,348.9 (2.9) 310.6 PROS HOLDINGS IN PH2 GR Equity 227.7 (3.4) 76.9 PROS HOLDINGS IN PRO US Equity 227.7 (3.4) 76.9 REATA PHARMACE-A 2R3 GR Equity 101.8 (212.3) 39.8 REATA PHARMACE-A RETA US Equity 101.8 (212.3) 39.8 REATA PHARMACE-A RETAEUR EU Equity 101.8 (212.3) 39.8 REGAL ENTERTAI-A RGC* MM Equity 2,477.6 (861.5) (89.0) REGAL ENTERTAI-A RGC US Equity 2,477.6 (861.5) (89.0) REGAL ENTERTAI-A RETA GR Equity 2,477.6 (861.5) (89.0) RESOLUTE ENERGY RENEUR EU Equity 294.9 (339.1) (16.8) RESOLUTE ENERGY R21 GR Equity 294.9 (339.1) (16.8) RESOLUTE ENERGY REN US Equity 294.9 (339.1) (16.8) REVLON INC-A REV US Equity 3,113.7 (559.6) 457.4 REVLON INC-A RVL1 GR Equity 3,113.7 (559.6) 457.4 RYERSON HOLDING 7RY TH Equity 1,643.3 (33.2) 696.4 RYERSON HOLDING 7RY GR Equity 1,643.3 (33.2) 696.4 RYERSON HOLDING RYI US Equity 1,643.3 (33.2) 696.4 SALLY BEAUTY HOL SBH US Equity 2,109.9 (289.0) 687.4 SALLY BEAUTY HOL S7V GR Equity 2,109.9 (289.0) 687.4 SANCHEZ ENERGY C 13S TH Equity 1,185.1 (761.1) 265.1 SANCHEZ ENERGY C SN US Equity 1,185.1 (761.1) 265.1 SANCHEZ ENERGY C 13S GR Equity 1,185.1 (761.1) 265.1 SANCHEZ ENERGY C SN* MM Equity 1,185.1 (761.1) 265.1 SANDRIDGE ENERGY SA2B GR Equity 1,886.5 (2,675.5) 585.8 SANDRIDGE ENERGY SA2B TH Equity 1,886.5 (2,675.5) 585.8 SANDRIDGE ENERGY SD US Equity 1,886.5 (2,675.5) 585.8 SANDRIDGE ENERGY SDEUR EU Equity 1,886.5 (2,675.5) 585.8 SBA COMM CORP 4SB GR Equity 7,915.7 (1,669.1) 119.4 SBA COMM CORP SBJ TH Equity 7,915.7 (1,669.1) 119.4 SBA COMM CORP SBACEUR EU Equity 7,915.7 (1,669.1) 119.4 SBA COMM CORP SBAC US Equity 7,915.7 (1,669.1) 119.4 SCIENTIFIC GAM-A TJW GR Equity 7,376.6 (1,750.0) 417.1 SCIENTIFIC GAM-A SGMS US Equity 7,376.6 (1,750.0) 417.1 SEARS HOLDINGS SHLDEUR EU Equity 10,865.0 (3,375.0) 236.0 SEARS HOLDINGS SEE TH Equity 10,865.0 (3,375.0) 236.0 SEARS HOLDINGS SEE QT Equity 10,865.0 (3,375.0) 236.0 SEARS HOLDINGS SHLD US Equity 10,865.0 (3,375.0) 236.0 SEARS HOLDINGS SEE GR Equity 10,865.0 (3,375.0) 236.0 SIGA TECH INC SIGA US Equity 162.8 (313.2) (21.7) SILVER SPRING NE 9SI GR Equity 437.4 (21.3) 19.2 SILVER SPRING NE 9SI TH Equity 437.4 (21.3) 19.2 SILVER SPRING NE SSNIEUR EU Equity 437.4 (21.3) 19.2 SILVER SPRING NE SSNI US Equity 437.4 (21.3) 19.2 SIRIUS XM CANADA XSR CN Equity 311.5 (125.2) (154.9) SIRIUS XM CANADA SIICF US Equity 311.5 (125.2) (154.9) SIRIUS XM HOLDIN SIRI US Equity 8,003.6 (792.0) (2,026.0) SIRIUS XM HOLDIN RDO TH Equity 8,003.6 (792.0) (2,026.0) SIRIUS XM HOLDIN SIRIEUR EU Equity 8,003.6 (792.0) (2,026.0) SIRIUS XM HOLDIN RDO GR Equity 8,003.6 (792.0) (2,026.0) SIRIUS XM HOLDIN RDO QT Equity 8,003.6 (792.0) (2,026.0) SONIC CORP SONCEUR EU Equity 593.3 (118.2) 33.6 SONIC CORP SONC US Equity 593.3 (118.2) 33.6 SONIC CORP SO4 GR Equity 593.3 (118.2) 33.6 SUPERVALU INC SJ1 QT Equity 4,474.0 (253.0) (747.0) SUPERVALU INC SJ1 TH Equity 4,474.0 (253.0) (747.0) SUPERVALU INC SVU US Equity 4,474.0 (253.0) (747.0) SUPERVALU INC SJ1 GR Equity 4,474.0 (253.0) (747.0) SYNTEL INC SYNT US Equity 454.5 (183.1) 146.9 SYNTEL INC SYE GR Equity 454.5 (183.1) 146.9 TABULA RASA HEAL 43T GR Equity 73.9 (2.4) (37.0) TABULA RASA HEAL TRHC US Equity 73.9 (2.4) (37.0) TABULA RASA HEAL TRHCEUR EU Equity 73.9 (2.4) (37.0) TAILORED BRANDS WRMA GR Equity 2,175.1 (77.7) 726.2 TAILORED BRANDS TLRD* MM Equity 2,175.1 (77.7) 726.2 TAILORED BRANDS TLRD US Equity 2,175.1 (77.7) 726.2 TAUBMAN CENTERS TU8 GR Equity 4,010.9 (62.0) - TAUBMAN CENTERS TCO US Equity 4,010.9 (62.0) - TEMPUR SEALY INT TPX US Equity 2,702.6 (4.6) 126.0 TEMPUR SEALY INT TPD GR Equity 2,702.6 (4.6) 126.0 TRANSDIGM GROUP T7D QT Equity 10,037.1 (1,874.6) 1,536.5 TRANSDIGM GROUP TDGCHF EU Equity 10,037.1 (1,874.6) 1,536.5 TRANSDIGM GROUP TDG SW Equity 10,037.1 (1,874.6) 1,536.5 TRANSDIGM GROUP TDGEUR EU Equity 10,037.1 (1,874.6) 1,536.5 TRANSDIGM GROUP T7D GR Equity 10,037.1 (1,874.6) 1,536.5 TRANSDIGM GROUP TDG US Equity 10,037.1 (1,874.6) 1,536.5 ULTRA PETROLEUM UPLMQ US Equity 1,420.2 (2,895.9) 308.6 ULTRA PETROLEUM UPM GR Equity 1,420.2 (2,895.9) 308.6 ULTRA PETROLEUM UPLEUR EU Equity 1,420.2 (2,895.9) 308.6 UNISYS CORP USY1 GR Equity 2,021.6 (1,647.4) 45.7 UNISYS CORP UISEUR EU Equity 2,021.6 (1,647.4) 45.7 UNISYS CORP USY1 TH Equity 2,021.6 (1,647.4) 45.7 UNISYS CORP UIS1 SW Equity 2,021.6 (1,647.4) 45.7 UNISYS CORP UISCHF EU Equity 2,021.6 (1,647.4) 45.7 UNISYS CORP USY LN Equity 2,021.6 (1,647.4) 45.7 UNISYS CORP UIS US Equity 2,021.6 (1,647.4) 45.7 VALVOLINE INC VVVEUR EU Equity 1,865.0 (286.0) 266.0 VALVOLINE INC 0V4 GR Equity 1,865.0 (286.0) 266.0 VALVOLINE INC VVV US Equity 1,865.0 (286.0) 266.0 VECTOR GROUP LTD VGR QT Equity 1,464.7 (198.6) 566.4 VECTOR GROUP LTD VGR US Equity 1,464.7 (198.6) 566.4 VECTOR GROUP LTD VGR GR Equity 1,464.7 (198.6) 566.4 VERISIGN INC VRSN US Equity 2,334.6 (1,200.6) 320.4 VERISIGN INC VRS GR Equity 2,334.6 (1,200.6) 320.4 VERISIGN INC VRSNEUR EU Equity 2,334.6 (1,200.6) 320.4 VERISIGN INC VRS TH Equity 2,334.6 (1,200.6) 320.4 VERSUM MATER 2V1 GR Equity 1,087.5 (134.2) 335.0 VERSUM MATER 2V1 TH Equity 1,087.5 (134.2) 335.0 VERSUM MATER VSMEUR EU Equity 1,087.5 (134.2) 335.0 VERSUM MATER VSM US Equity 1,087.5 (134.2) 335.0 VIEWRAY INC VRAY US Equity 55.8 (33.5) 9.0 WEIGHT WATCHERS WTW US Equity 1,261.4 (1,228.3) (98.6) WEIGHT WATCHERS WW6 QT Equity 1,261.4 (1,228.3) (98.6) WEIGHT WATCHERS WW6 TH Equity 1,261.4 (1,228.3) (98.6) WEIGHT WATCHERS WTWEUR EU Equity 1,261.4 (1,228.3) (98.6) WEIGHT WATCHERS WW6 GR Equity 1,261.4 (1,228.3) (98.6) WEST CORP WSTC US Equity 3,440.8 (441.8) 199.7 WEST CORP WT2 GR Equity 3,440.8 (441.8) 199.7 WESTMORELAND COA WLB US Equity 1,719.7 (581.2) (43.5) WESTMORELAND COA WME GR Equity 1,719.7 (581.2) (43.5) WINGSTOP INC WING US Equity 112.3 (79.9) (4.5) WINGSTOP INC EWG GR Equity 112.3 (79.9) (4.5) WINMARK CORP WINA US Equity 43.5 (15.7) 13.5 WINMARK CORP GBZ GR Equity 43.5 (15.7) 13.5 WYNN RESORTS LTD WYR QT Equity 10,925.9 (64.4) 626.9 WYNN RESORTS LTD WYR GR Equity 10,925.9 (64.4) 626.9 WYNN RESORTS LTD WYNNEUR EU Equity 10,925.9 (64.4) 626.9 WYNN RESORTS LTD WYR TH Equity 10,925.9 (64.4) 626.9 WYNN RESORTS LTD WYNN SW Equity 10,925.9 (64.4) 626.9 WYNN RESORTS LTD WYNNCHF EU Equity 10,925.9 (64.4) 626.9 WYNN RESORTS LTD WYNN US Equity 10,925.9 (64.4) 626.9 WYNN RESORTS LTD WYNN* MM Equity 10,925.9 (64.4) 626.9 YRC WORLDWIDE IN YRCWEUR EU Equity 1,770.0 (416.2) 218.9 YRC WORLDWIDE IN YRCW US Equity 1,770.0 (416.2) 218.9 YRC WORLDWIDE IN YEL1 GR Equity 1,770.0 (416.2) 218.9 YRC WORLDWIDE IN YEL1 TH Equity 1,770.0 (416.2) 218.9 YUM! BRANDS INC TGR GR Equity 5,478.0 (5,656.0) 113.0 YUM! BRANDS INC YUMEUR EU Equity 5,478.0 (5,656.0) 113.0 YUM! BRANDS INC TGR TH Equity 5,478.0 (5,656.0) 113.0 YUM! BRANDS INC YUMUSD SW Equity 5,478.0 (5,656.0) 113.0 YUM! BRANDS INC YUM US Equity 5,478.0 (5,656.0) 113.0 YUM! BRANDS INC YUM SW Equity 5,478.0 (5,656.0) 113.0 YUM! BRANDS INC YUMCHF EU Equity 5,478.0 (5,656.0) 113.0 ********* 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 ***