TCR_Public/170225.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Saturday, February 25, 2017, Vol. 21, No. 55


PARAGON OFFSHORE: Posts $8.43 Million Net Loss in December
PREMIER EXHIBITIONS: Files December Operating Report
VIOLIN MEMORY: Suffers $1.97 Million Net Loss at Dec. 31


PARAGON OFFSHORE: Posts $8.43 Million Net Loss in December
Paragon Offshore plc, et. al., filed with the U.S. Securities and
Exchange Commission their monthly operating report for December

Paragon Offshore plc reported a net loss of $8.43 million on $4.94
million of operating revenues for month, an increase compared to
$6.75 million net loss recorded for November.

As of December 31, 2016, Paragon Offshore plc posted total assets
of $4.01 billion, total liabilities of $2.54 billion, and $1.46
billion in total shareholders' equity.

The Debtors started the month with $554.46 million cash.  They
listed $27.76 million in total receipts and $25.65 million in
total disbursements.  At month end, the Debtors had $552.57
million cash.

A copy of the monthly operating report is available at the SEC at:


                   About Paragon Offshore

Paragon Offshore plc -- is a   
global provider of offshore drilling rigs.  Paragon's operated
fleet includes 34 jackups, including two high specification heavy
duty/harsh environment jackups, and six floaters (four drillships
and two semi-submersibles).  Paragon's primary business is
contracting its rigs, related equipment and work crews to conduct
oil and gas drilling and workover operations for its exploration
and production customers on a dayrate basis around the world.
Paragon's principal executive offices are located in Houston,
Texas.  Paragon is a public limited company registered in England
and Wales and its ordinary shares have been trading on the
over-the-counter markets under the trading symbol "PGNPF" since
December 18, 2015.

Paragon Offshore Plc, et al., filed Chapter 11 bankruptcy Petitions
(Bankr. D. Del. Case Nos. 16-10385 to 16-10410) on Feb. 14, 2016,
after reaching a deal with lenders on a reorganization plan that
would eliminate $1.1 billion in debt.

The petitions were signed by Randall D. Stilley as authorized
representative.  Judge Christopher S. Sontchi is assigned to the

The Debtors reported total assets of $2.47 billion and total debt
of $2.96 billion as of Sept. 30, 2015.

The Debtors engaged Weil, Gotshal & Manges LLP as general counsel,
Richards, Layton & Finger, P.A. as local counsel, Lazard Freres &
Co. LLC as financial advisor, Alixpartners, LLP as restructuring
advisor, and Kurtzman Carson Consultants as claims and noticing

PREMIER EXHIBITIONS: Files December Operating Report
Premier Exhibitions, Inc., filed with the U.S. Securities and
Exchange Commission its monthly operating report for December

Premier Exhibitions, Inc., listed zero receipts and disbursements
for month of December.  The Company also did not post a list of its
assets and liabilities.

A copy of the monthly operating report is available at the SEC at:


         About Premier Exhibitions/RMS Titanic, Inc.

Premier Exhibitions, Inc. (Nasdaq: PRXI), located in Atlanta,
Georgia, is a presenter of museum quality exhibitions throughout
the world.  Premier --  
develops and displays unique exhibitions for education and
entertainment including Titanic: The Artifact Exhibition,
BODIES...The Exhibition, Tutankhamun: The Golden King and the Great
Pharaohs, Pompeii The Exhibition, Extreme Dinosaurs and Real
Pirates in partnership with National Geographic.  The success of
Premier Exhibitions lies in its ability to produce, manage, and
market exhibitions.

RMS Titanic and seven of its subsidiaries filed voluntary petitions
for reorganization under Chapter 11 of the Bankruptcy Code (Bankr.
M.D. Fla. Lead Case No. 16-02230) on June 14, 2016.  Former Chief
Financial Officer and Chief Operating Officer Michael J. Little
signed the petitions.  The Chapter 11 cases are assigned to Judge
Paul M. Glenn.

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

Guy Gebhardt, acting U.S. trustee for Region 21, on Aug. 24, 2016,
appointed three creditors to serve on the official committee of
unsecured creditors of RMS Titanic, Inc., and its affiliates.  The
Committee hired Storch Amini & Munves PC and Thames Markey &
Heekin, P.A. as counsel.

VIOLIN MEMORY: Suffers $1.97 Million Net Loss at Dec. 31
Violin Memory, Inc., filed with the U.S. Securities and Exchange
Commission its monthly operating report for the period from
December 14, 2016, through December 31, 2016.

The Debtor's statement of operations recorded a net loss of $1.97
million on $968,953 of total revenue for the current reporting

As of December 31, 2016, the Debtor had $27.75 million in total
assets, $144.68 million in total liabilities, and $115.93 million
in total stockholders' deficit.

At December 14, 2016, the Debtor had $3.68 million cash.  It had
total receipts of $1.29 million and total disbursements of
$978,557.  The Debtor had $3.99 million cash at December 31, 2016.

A copy of the monthly operating report is available at the SEC at:

                  About Violin Memory, Inc.

Violin Memory, Inc., develops and supplies memory-based storage
systems for high-speed applications, servers and networks in the
Americas, Europe and the Asia Pacific.  Founded in 2005, the
Company is headquartered in Santa Clara, California.

Violin Memory sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. D. Del. Case No. 16-12782) on Dec. 14, 2016.  The
petition was signed by Cory J. Sindelar, chief financial officer.

At the time of the filing, the Debtor disclosed $38.93 million in
assets and $145.4 million in liabilities.

Pillsbury Winthrop Shaw Pittman LLP serves as the Debtor's legal
counsel while Justin R. Alberto, Esq. and Scott D. Cousins, Esq.,
at Bayard, P.A., serves as co-counsel.  The Debtor has hired
Houlihan Lokey Capital, Inc., as financial advisor and investment
banker. Prime Clerk LLC serves as administrative advisor.

The U.S. Trustee, on Dec. 27, 2016, named three creditors to serve
on the official committee of unsecured creditors Wilmington Trust,
N.A., Clinton Group, Inc., and Forty Niners SC Stadium Company LC.

The Committee hires Cooley LLP as lead counsel, and Elliot
Greenleaf as its Delaware counsel.

                           *     *     *

According to Matt Chiappardi at Bankruptcy Law360, Violin Memory
told the Bankruptcy Court on Jan. 30, 2017, that a unit of major
creditor Soros Fund Management LLC put in the winning bid for its
assets with an offer valued at least $14.5 million, but it needs
more time to negotiate terms of a Chapter 11 plan sponsorship
agreement.  Violin Memory filed with the Bankruptcy Court a notice
identifying VM Bidco LLC as the winner of its three-day auction in
New York.


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Troubled Company Reporter is a daily newsletter co-published
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