/raid1/www/Hosts/bankrupt/TCR

/raid1/www/Hosts/bankrupt/TCR_Public/170302.mbx T R O U B L E D C O M P A N Y R E P O R T E R Thursday, March 2, 2017, Vol. 21, No. 60 Headlines 1201 ERNSTON ROAD: Taps RJAC and Associates as Accountant 68 YACHT CLUB: Hires Mittelberg as Attorney 9800 WEDDINGS: Gets Approval to Hire Eric Slocum Sparks as Counsel A-1 EXPRESS: Hires Scroggins & Williamson as Attorney ACTIVECARE INC: Needs More Time to File Dec. 31 Form 10-Q ADAMIS PHARMACEUTICALS: Sio Capital Has 4.87% Stake as of Dec. 31 ALFA MEDICAL: Gets Approval to Hire Jay S. Kalish as Legal Counsel AMERICAN POWER: Reports $1.82 Million First Quarter Net Loss ANDERSON SHUMAKER: Proposes to Use Certain Cash Collateral APOLLO MEDICAL: Incurs $1.73 Million Net Loss in Third Quarter ARABELLA EXPLORATION: Taps Murphy Mahon as Special Counsel ARCTIC GLACIER: Moody's Assigns B2 Corporate Family Rating ARIZONA ACADEMY: Disclosure Statement Hearing Set for March 30 AXIOS LOGISTICS: Chapter 15 Case Summary BBQ BOSS: Hires Kemp and Associates as Accountant BCBG MAX AZRIA: Case Summary & 50 Largest Unsecured Creditors BCBG MAX: Files for Chapter 11 With Reorganization Plan BENCHMARK ELECTRONICS: S&P Affirms 'BB' CCR; Outlook Stable BENJAMIN EYE CARE: Can Continue Using Cash Collateral Until March 9 BERRY PETROLEUM: Exits Chapter 11 Bankruptcy Protection BILTMORE 24: Disclosure Statement Hearing Set for April 12 BRIGGS & STRATTON: Moody's Affirms Ba3 Corporate Family Rating CABALLO2015 LLC: Hires Minkin & Harnisch as Special Counsel CALMARE THERAPEUTICS: Bard Associates Has 12.5% Stake as of Dec. 31 CARING HANDS HOME CARE: PCO Appointment Not Necessary, Judge Says CE GENERATION: S&P Affirms 'CCC' Rating on $400MM Secured Bonds COLORADO 2002B: Unsecureds to Recover 100% Under Chapter 11 Plan COLORADO BUYER: Moody's Assigns B1 Corporate Family Rating COMM 2014-UBS3: DBRS Confirms B(sf) Rating on Class G Debt DOLPHIN DIGITAL: CEO O'Dowd Has 22.6% Equity Stake as of Dec. 29 EASTERN OUTFITTERS: Russell R. Johnson III Representing Utilities EMAS CHIYODA: Case Summary & 30 Largest Unsecured Creditors EMAS CHIYODA: Will Implement Revised Business Plan Thru Chapter 11 ENERGY FUTURE: Asks Court OK of Makewhole Claims Settlement ERIE ACQUISITION: Moody's Lowers CFR to B3 on Weak Sales EXPERIMENTAL MACHINE: Hires Clark Machinery as Sales Broker FAMILY CHILD: Taps Maples Law Firm as Legal Counsel FUNCTION(X) INC: Reports Second Quarter Net Loss of $2.77 Million GATOR EQUIPMENT: Seeks to Hire Southeast Auction as Auctioneer GLYECO INC: Leonid Frenkel Owns 6.58% Equity Stake as of Dec. 31 GREAT BASIN: Proposes to Sell $10 Million Worth of Units GREATER LEWISTON: Taps Imblum Law Offices as Legal Counsel GREEN FUEL: U.S. Trustee Forms 2-Member Committee GS MORTGAGE 2015-GC28: DBRS Confirms B Rating on Class F Debt IDERA INC: S&P Revises Outlook to Stable & Affirms 'B' CCR INDEPENDENCE TAX II: Incurs $209K Net Loss in Third Quarter INSIGHTRA MEDICAL: Hires Bayard P.A. as Counsel INSIGHTRA MEDICAL: Hires O'Neil as Special Counsel INTERPACE DIAGNOSTICS: To Offer 1.2M Shares at $3 Apiece INTRINSIC4D INC: Defaults on 10.5% Convertible Debentures IPC CORP: Moody's Affirms B3 Corporate Family Rating ISLAND FESTIVAL: Case Summary & 20 Largest Unsecured Creditors ITUS CORP: Changes Record Date for Stock Rights Offering JAMES HARDIE: S&P Affirms 'BB' CCR & Revises Outlook to Positive JO-JO HOLDINGS: Sale of PII May Be Allowed, CPO Says JOHN Q. HAMMONS: Directors Hire Protiviti as Professional JOINT VENTURE: Court Approves 75K DIP Loan, Cash Collateral Use JOYCE LESLIE: Clear Thinking Group Named Plan Administrator JPS COMPLETION: Taps Adamson & Company as Tax Consultant KALOBIOS PHARMACEUTICALS: Nantahala Has 9.7% Stake as of Dec. 31 LARK TRANSPORTATION: U.S. Trustee Unable to Appoint Committee LAS VEGAS YOGA: Hires Andersen as Attorney LATTICE INC: Bard Associates Ceases to be 5% Shareholder LIMITED STORES: Creditors' Panel Hires Kelley as Lead Counsel LIMITED STORES: Creditors' Panel Hires Pachulski as Co-Counsel LIMITED STORES: Creditors' Panel Taps CBIZ as Financial Advisor LOF ASSOCIATES: Taps Rosen & Federico as Accountant LPL HOLDINGS: S&P Revises Outlook to Stable & Affirms 'BB-' ICR LUNDIN MINING: Moody's Hikes Corporate Family Rating to Ba3 LUVU BRANDS: Posts $399,000 Net Income for Second Quarter M.O.R. PRINTING: Hires Van Horn Law Group as Counsel MICHIGAN SPORTING: Taps Berkeley Research as Financial Advisor MONTAQUE CAPITAL: Liquidators Seek Payment of Fees & Costs NATURAL RESOURCE: Moody's Assigns Caa2 Rating to New Senior Notes NORTH ATLANTIC: S&P Withdraws 'B' CCR After Repayment NORTHSTAR OFFSHORE: Seeks to Hire Moyes & Co. as Consultant OLDCO LLC: Hires Covington & Burling as Special Insurance Counsel ONE BREWERY: Hires Howard Hanna as Real Estate Broker OYSTER COMPANY: Creditors' Panel Hires Christian as Counsel PADCO PRESSURE: Seeks to Hire Colvin Smith as Special Counsel PFO GLOBAL: Seeks to Hire Mahesh Shetty as Financial Officer PHYSICIANS REALTY: S&P Assigns 'BB+' CCR; Outlook Positive PRA HOLDINGS: Moody's Hikes Corporate Family Rating to Ba3 PRESIDENTIAL FUNERAL: Hires Keech as Attorney PRESIDENTIAL FUNERAL: Hires Snow Tax as Accountant PRESIDIO HOLDINGS: Moody's Puts Ratings on Review for Upgrade PURE FOODS: Committee Seeks to Hire Blakeley as Legal Counsel RAVENWOOD ENTERPRISES: Hires Radowitz as Attorney SAMSON RESOURCES: Exits Chapter 11 Bankruptcy Protection SANCTUARY OF PRAISE: Hires Chervenic as Auctioneer SANTA ROSA ANIMAL: Taps John Espinoza as Accountant SBP HOLDING: S&P Affirms 'CCC+' CCR & Revises Outlook to Negative SERVICE WELDING: Hires Kaplan & Partners as Counsel SNYDER VIRGINIA: Hires Tranzon Fox as Auctioneer STARPORT TRANSPORTATION: Case Summary & 20 Top Unsecured Creditors STEMTECH INTERNATIONAL: Creditors' Panel Hires Berger as Counsel SUNSET9 LLC: Hires Louis J. Esbin as Counsel SWORDS GROUP: Taps Charter Development as Real Estate Broker TRANS-LUX CORP: Bard Associates Has 5% Stake as of Dec. 31 TRANSUNION: S&P Raises CCR to 'BB' on Strong Operating Performance TTC REAL ESTATE: Seeks to Hire Trend Setter as Broker ULTRA PETROLEUM: Judge Bars Investors from Collecting on $300M UNITED MOBILE: Cash Collateral Use Extended Through March 31 UPPER ROOM: Hires Moret as Accountant VASSALLO INTERNATIONAL: Taps Caribbean Asset as Auctioneer VERMILLION INC: FMR LLC Reports 10% Stake as of Feb. 13 WRAP MEDIA: Seeks to Hire Carr & Ferrell as Corporate Counsel YESHIVA UNIVERSITY: Moody's Affirms B3 Rating on $170MM Bonds ZIO'S RESTAURANT: Wants Plan Exclusivity Pending Plan Approval ZIONS BANCORP: DBRS to Withdraw BB Preferred Stock Rating [^] Recent Small-Dollar & Individual Chapter 11 Filings ********* 1201 ERNSTON ROAD: Taps RJAC and Associates as Accountant --------------------------------------------------------- 1201 Ernston Road Realty Corp., seeks authority from the U.S. Bankruptcy Court for the District of New Jersey to employ RJAC and Associates, LLC, as accountant to the Debtor. 1201 Ernston Road requires RJAC and Associates to: a. assist the Debtor in preparing such analyses as the Debtor may request to assist in connection with the Debtor's, or the Debtor's other professional advisors, negotiations, meetings, and telephone conferences with creditors or other parties; b. assist the Debtor in responding to discovery requests by parties-in-interest in the Chapter 11 proceeding; c. assist the Debtor in preparation and review of monthly operating reports for filing with the U.S. Trustee; d. assist the Debtor in preparation of cash flow and financial projections; e. assist the Debtor in valuation, insolvency and liquidation analysis for the Debtors; f. assist the Debtor in preparation of tax returns and amended tax returns; g. assist the Debtor and other professional advisors in preparing for court appearances, appearances before the U.S. Trustee and communication with any Committees appointed in the bankruptcy, as required; and h. perform other services as directed by the Debtor and its counsel. RJAC and Associates will be paid a flat fee of $150 per month for account reconciliations and $100 per hour for work outside that scope. RJAC and Associates will also be reimbursed for reasonable out-of-pocket expenses incurred. Rachel Mujica, a principal of RJAC and 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. RJAC and Associates can be reached at: Rachel Mujica RJAC AND ASSOCIATES, LLC 726 Boulevard, Suite 26 Kenilworth, NJ 07033 Tel: (908) 241-1263 About 1201 Ernston Road Realty Corp. 1201 Ernston Road Realty Corp., filed a Chapter 11 bankruptcy petition (Bankr. D.N.J. Case No. 17-10549) on Jan. 10, 2017, disclosing under $1 million in both assets and liabilities. The Debtor is represented by Anthony Sodono III, at Trenk DiPasquale Della Fera & Sodono, P.C. 68 YACHT CLUB: Hires Mittelberg as Attorney ------------------------------------------- 68 Yacht Club Land Trust, seeks authority from the U.S. Bankruptcy Court for the Southern District of Florida to employ Barry S. Mittelberg, P.A., as attorney to the Debtor. 68 Yacht Club requires Mittelberg to: a. give advice to the Debtor with respect to its powers and duties as a Debtor and the continued management of its business operations; b. advise the Debtor with respect to its responsibilities in complying with the U.S. Trustee's Operating Guidelines and Reporting Requirements and with the rules of the court; c. prepare motions, pleadings, orders, applications, adversary proceedings, and other legal documents necessary in the administration of the case; d. protect the interest of the Debtor in all matters pending before the court; and e. represent the Debtor in negotiation with its creditors in the preparation of a plan. Barry S. Mittelberg, a principal of the firm, assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtor and its estates. Mittelberg can be reached at: Barry S. Mittelberg, Esq. BARRY S. MITTELBERG, P.A. 1700 N. University Drive, Suite 300 Coral Springs, FL 33071 Tel: (954) 752-1213 Fax: (954) 752-5299 E-mail: barry@mittelberglaw.com About 68 Yacht Club Land Trust 68 Yacht Club Land Trust, filed a Chapter 11 bankruptcy petition (Bankr. S.D. Fla. Case No. 17-11976) on Feb. 17, 2017, disclosing under $1 million in both assets and liabilities. 9800 WEDDINGS: Gets Approval to Hire Eric Slocum Sparks as Counsel ------------------------------------------------------------------ 9800 Weddings, LLC received approval from the U.S. Bankruptcy Court for the District of Arizona to hire Eric Slocum Sparks, P.C. as its legal counsel. The firm will advise the Debtor regarding its duties under the Bankruptcy Code, and will provide other legal services related to its Chapter 11 case. The hourly rates charged by the firm are: Eric Slocum Sparks $375 Associates $275 Law Clerk $150 - $200 Paralegal $100 - $150 Legal Assistant $100 - $150 Eric Slocum Sparks, Esq., disclosed in a court filing that his firm does not represent any interest adverse to the Debtor or its creditors. The firm can be reached through: Eric Slocum Sparks, Esq. Law Offices of Eric Slocum Sparks, P.C. 3505 North Campbell Avenue #501 Tucson, AZ 85719 Tel: (520) 623-8330 Fax: (520) 623-9157 Email: eric@ericslocumsparkspc.com Email: law@ericslocumsparkspc.com About 9800 Weddings LLC 9800 Weddings, LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Ariz. Case No. 17-01376) on February 15, 2017. The petition was signed by Joe E. May, manager. The case is assigned to Judge Brenda Moody Whinery. At the time of the filing, the Debtor disclosed $800,000 in assets and $1.26 million in liabilities. A-1 EXPRESS: Hires Scroggins & Williamson as Attorney ----------------------------------------------------- A-1 Express Delivery Service, Inc., seeks authority from the U.S. Bankruptcy Court for the Northern District of Georgia to employ Scroggins & Williamson, P.C., as its attorney. A-1 Express requires Scroggins & Williamson to: a) prepare pleadings and applications; b) conduct of examinations; c) advise the Debtor of its rights, duties and obligations as debtor-in-possession; d) consult with the Debtor and representing the Debtor with respect to a Chapter 11 plan and a sale of the Debtor's assets; e) perform legal services incidental and necessary to the day- to-day operation of the Debtor's affairs, including, but not limited to, institution and prosecution of necessary legal proceedings, and general business and corporate legal advice and assistance; and f) take any and all other action incidental to the proper preservation and administration of the Debtor's estate. Scroggins & Williamson will be paid at these hourly rates: Attorney $195 to $450 Paralegal $75 to $150 Scroggins & Williamson will be paid a retainer in the amount of $21,728. Scroggins & Williamson will also be reimbursed for reasonable out-of-pocket expenses incurred. J. Robert Williamson, a partner at Scroggins & Williamson, 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. Scroggins & Williamson can be reached at: J. Robert Williamson, Esq. SCROGGINS & WILLIAMSON, P.C. 4401 Northside Parkway, Suite 450 Atlanta, GA 30327 Tel: (404) 893-3880 Fax: (404) 893-3886 E-mail: rwilliamson@swlawfirm.com About A-1 Express Delivery Service A-1 Express Delivery Service, Inc., based in Atlanta, GA, filed a Chapter 11 petition (Bankr. N.D. Ga. Case No. 17-52865) on Feb. 14, 2017. In its petition, the Debtor estimated $1 million to $10 million in both assets and liabilities. The petition was signed by Lon D. Fancher, COO, owner. ACTIVECARE INC: Needs More Time to File Dec. 31 Form 10-Q --------------------------------------------------------- ActiveCare, Inc. filed a Form 12b-25 with the Securities and Exchange Commission notifying the delay in the filing of its quarterly report on Form 10-Q for the period ended Dec. 31, 2016. The Company said it was not able to verify certain financial information that is necessary to complete the filing until after the date the report is initially due. About ActiveCare South West Valley City, Utah-based ActiveCare, Inc., develops and markets products for monitoring the health of and providing assistance to mobile and homebound seniors and the chronically ill. ActiveCare is organized into three business. The Stains and Reagents segment is engaged in the business of manufacturing and marketing medical diagnostic stains, solutions and related equipment to hospitals and medical testing labs. The CareServices segment is engaged in the business of developing, distributing and marketing mobile health monitoring and concierge services to distributors and customers. The Chronic Illness Monitoring segment is primarily engaged in the monitoring of diabetic patients on a real time basis. ActiveCare reported a net loss of $12.8 million on $6.59 million of chronic illness monitoring revenues for the year ended Sept. 30, 2015, compared with a net loss of $16.4 million on $6.10 million of chronic illness monitoring revenues for the year ended Sept. 30, 2014. As of June 30, 2016, ActiveCare had $1.91 million in total assets, $21.01 million in total liabilities and a total stockholders' deficit of $19.10 million. Tanner LLC, in Salt Lake City, Utah, issued a "going concern" qualification on the consolidated financial statements for the year ended Sept. 30, 2015, citing that the Company has recurring losses, negative cash flows from operating activities, negative working capital, negative total equity, and certain debt that is in default. These conditions, among others, raise substantial doubt about its ability to continue as a going concern. ADAMIS PHARMACEUTICALS: Sio Capital Has 4.87% Stake as of Dec. 31 ----------------------------------------------------------------- In an amended Schedule 13G filed with the Securities and Exchange Commission, Sio Capital Management, LLC disclosed that as of Dec. 31, 2016, it beneficially owns 1,051,063 shares of common stock of Adamis Pharmaceuticals Corporation representing 4.87 percent based on 21,584,833 shares of common stock outstanding as of Nov. 14, 2016, as reported in the Issuer's Form 10-Q filed with the SEC on Nov. 14, 2016. A full-text copy of the regulatory filing is available for free at https://is.gd/FIcXeG About Adamis San Diego, Calif.-based Adamis Pharmaceuticals Corporation (OTC QB: ADMP) is a biopharmaceutical company engaged in the development and commercialization of specialty pharmaceutical and biotechnology products in the therapeutic areas of respiratory disease, allergy, oncology and immunology. Adamis reported a net loss of $13.6 million on $0 of revenue for the year ended Dec. 31, 2015, compared to a net loss of $9.31 million on $0 of revenue for the year ended Dec. 31, 2014. As of Sept. 30, 2016, the Company had $36.74 million in total assets, $11.98 million in total liabilities and $24.76 million in total stockholders' equity. Mayer Hoffman McCann P.C., in San Diego, California, issued a "going concern" qualification on the consolidated financial statements for the year ended Dec. 31, 2016, citing that the Company has incurred recurring losses from operations, and is dependent on additional financing to fund operations. These conditions raise substantial doubt about the Company's ability to continue as a going concern. ALFA MEDICAL: Gets Approval to Hire Jay S. Kalish as Legal Counsel ------------------------------------------------------------------ Alfa Medical Equipment & Supplies, Inc. received approval from the U.S. Bankruptcy Court for the Eastern District of Michigan to hire Jay S. Kalish, P.C. as its legal counsel. The firm will advise the Debtor regarding its duties under the Bankruptcy Code, prepare a bankruptcy plan, and provide other legal services related to its Chapter 11 case. Jay Kalish, Esq., will charge an hourly rate of $225 while his legal assistants will charge $75 per hour. Mr. Kalish and his firm are "disinterested" as defined in section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached through: Jay S. Kalish, Esq. Jay S. Kalish, P.C. 2000 Town Center, Suite 1900 Southfield, MI 48075 Phone: (248) 932-3000 Email: JSKalish@aol.com About Alfa Medical Equipment & Supplies Alfa Medical Equipment & Supplies, Inc. sought protection under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Mich. Case No. 17-42144) on February 17, 2017. The petition was signed by Zakhar Volozin, general manager. The case is assigned to Judge Marci B. McIvor. At the time of the filing, the Debtor estimated assets and liabilities of less than $50,000. AMERICAN POWER: Reports $1.82 Million First Quarter Net Loss ------------------------------------------------------------ American Power Group Corporation filed with the Securities and Exchange Commission its quarterly report on Form 10-Q disclosing a net loss available to common stockholders of $1.82 million on $433,853 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 $494,650 of net sales for the same period a year ago. As of Dec. 31, 2016, American Power had $9.49 million in total assets, $9.42 million in total liabilities and $68,990 in total stockholders' equity. As of Dec. 31, 2016, the Company had $0 cash and cash equivalents and a working capital deficit of $2,017,038. "We continue to incur recurring losses from operations, which raises substantial doubt about our ability to continue as a going concern unless we secure additional capital to fund our operations as well as implement initiatives to reduce our cash burn in light of lower diesel/natural gas price spreads and the impact it has had on our business as well as the slower than anticipated ramp of our flare capture and recovery business," the Company said. Management understands that the Company's continued existence is dependent on its ability to generate positive operating cash flow, achieve profitability on a sustained basis and generate improved performance. The Company believes it will have sufficient resources to satisfy its cash requirements through the first quarter of fiscal 2018. In order to ensure our future viability beyond that point, management has implemented or is in the process of implementing the following actions: A. 10% Contingent Convertible Promissory Notes and Series E Convertible Preferred Stock B. Deferment of WPU Leasing Payments and Cash Dividend Payments C. New Iowa State Bank Credit Facility D. Amendment of Trident Promissory Note A full-text copy of the Form 10-Q is available for free at: https://is.gd/4Tmc5u 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. 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. ANDERSON SHUMAKER: Proposes to Use Certain Cash Collateral ---------------------------------------------------------- Anderson Shumaker Company asks the U.S. Bankruptcy Court for the Northern District of Illinois to authorize it to use certain cash and cash equivalents that serves as collateral for claims asserted by Associated Bank and Forest Park Bank. Associated Bank and Forest Park assert security interests in cash and cash equivalents, including the Debtor's cash and accounts receivable, among other collateral. In addition, Associated Bank asserts a security interest purportedly attaching to the Debtor's Business Premises located at 824 S. Central, Chicago, IL 60641, At the Petition Date, the Debtor has shown cash of $31,752, accounts receivable of approximately $2.1 million, machinery and equipment valued at approximately $4 million, and inventory valued at approximately $2.4 million. The proposed Budget contemplates the Debtor's monthly cash flow projections for the period from February 23, 2017 through April 7, 2017 providing total expenses in the aggregate sum of $1,131,809. The Budget itemizes the Debtor's cash needs during the relevant period, in order to continue to operate its business, manage its financial affairs, and effectuate an effective reorganization, which includes payment for payroll, insurance, utilities, purchase of inventory and other miscellaneous items needed in the ordinary course of business. The Debtor proposes to provide adequate protection to Associated Bank and Forest Park upon the following terms and conditions: (a) The Debtor will permit Associated Bank and Forest Park to inspect its books and records; (b) The Debtor will maintain and pay premiums for insurance to cover all of its assets from fire, theft and water damage; (c) The Debtor will make available to Associated Bank and Forest Park evidence of that which purportedly constitutes their collateral or proceeds; (d) The Debtor will properly maintain the collateral and properly manage the collateral; and (e) The Debtor will grant a replacement lien to Associated Bank and Forest Park to the extent of their prepetition liens, and attaching to the same assets of the Debtor in which Associated Bank and Forest Park asserted prepetition liens. A full-text copy of the Debtor's Motion, dated Feb. 23, 2017, is available at http://tinyurl.com/zg9yke9 Anderson Shumaker Company is represented by: Scott R. Clar, Esq. Brian P. Welch, Esq. Crane, Heyman, Simon, Welch & Clar 135 South LaSalle Street, Suite 3705 Chicago, IL 60603 Telephone: (312) 641-6777 About Anderson Shumaker Company Anderson Shumaker Company provides open die forgings and custom forgings in various shapes and finishes using stainless steel, aluminum, carbon steel and various grades of alloy steel. The Debtor filed a Chapter 11 petition (Bankr. N.D. Ill. Case No. 17-05206), on February 23, 2017. The Debtor is represented by Scott R. Clar, Esq. and Brian P. Welch, Esq. at Crane, Heyman, Simon, Welch & Clar. No trustee, examiner or committee of unsecured creditors has been appointed to serve in the Debtor's reorganization case. APOLLO MEDICAL: Incurs $1.73 Million Net Loss in Third Quarter -------------------------------------------------------------- Apollo Medical Holdings, Inc. filed with the Securities and Exchange Commission its quarterly report on Form 10-Q disclosing a net loss attributable to the Company of $1.73 million on $15.67 million of net revenues for the three months ended Dec. 31, 2016, compared to a net loss attributable to the Company of $1.68 million on $10.65 million of net revenues for the three months ended Dec. 31, 2015. For the nine months ended Dec. 31, 2016, the Company recognized a net loss attributable to the Company of $4.40 million on $42.66 million of net revenues compared to a net loss attributable to the Company of $4.69 million on $32.23 million of net revenues for the nine months ended Dec. 31, 2015. As of Dec. 31, 2016, Apollo had $16.78 million in total assets, $11.08 million in total liabilities and $5.69 million in total stockholders' equity. The primary source of liquidity as of Dec. 31, 2016, is cash and cash equivalents of approximately $4.0 million, which includes proceeds from a note payable to a related party. "The ability of the Company to continue as a going concern is dependent upon the Company's ability to attain a satisfactory level of profitability and obtain suitable and adequate financing. There can be no assurance that management's plan will be successful. These factors raise substantial doubt about the Company's ability to continue as a going concern. "The Company is currently exploring sources of additional funding. Without limiting its available options, future equity financings will most likely be through the sale of additional shares of its securities. It is possible that the Company could also offer warrants, options and/or rights in conjunction with any future issuances of its common stock. The Company's current sources of revenues are insufficient to cover its operating costs, and as such, has incurred an operating loss since its inception. Thus, until the Company can generate sufficient cash flows to fund operations, the Company remains substantially dependent on raising additional capital through debt and/or equity transactions. In addition, the Company may have to reduce certain overhead costs through the deferral of salaries and other means, and settle liabilities through negotiation. Currently, the Company does not have any commitments or assurances for additional capital, nor can the Company provide assurance that such financing will be available on favorable terms, or at all. If, after utilizing the existing sources of capital available to the Company, further capital needs are identified and the Company is not successful in obtaining the financing, it may be forced to curtail its existing or planned future operations." A full-text copy of the Form 10-Q is available for free at: https://is.gd/SKUgFS About Apollo Medical Glendale, Calif.-based Apollo Medical Holdings, Inc. (OTCMKTS:AMEH) -- http://www.apollomed.net/-- provides hospitalist services in the Greater Los Angeles, California area. Apollo Medical reported a net loss of $9.34 million on $44.0 million of net revenues for the year ended March 31, 2016, compared with a net loss of $1.80 million on $33.0 million of net revenues for the year ended March 31, 2015. ARABELLA EXPLORATION: Taps Murphy Mahon as Special Counsel ---------------------------------------------------------- Arabella Exploration, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Texas to hire Murphy Mahon Keffler Farrier LLC as its special counsel. Murphy Mahon will provide these services in connection with the Debtor's Chapter 11 case: (a) Identify the oil and gas assets owned by the Debtor; (b) Determine the ownership interest of the Debtor to its oil and gas assets and the status of its title to such interest; (c) Review the contracts and agreements that affect the Debtor's oil and gas assets; (d) Determine the validity and priority of any liens that have been filed against the assets; (e) Assist the Debtor in identifying transfers of oil and gas assets which it may have made prior to filing its bankruptcy case; and (f) Assist in the sale and divestiture of the Debtor's oil and gas assets. The hourly rates charged by the firm are: J. Patrick Murphy $450 Mary Ann Fisher $400 Partners $400 - $450 Non-Associate Attorneys $400 - $450 Paralegals $100 J. Patrick Murphy, Esq., disclosed in a court filing that the firm does not hold any interest adverse to the Debtor's bankruptcy estate or creditors. The firm can be reached through: J. Patrick Murphy, Esq. Murphy Mahon Keffler Farrier LLC 505 Pecan Street, Suite 201 Fort Worth, TX 76102 About Arabella Exploration Arabella Exploration, LLC, formed on October 2, 2009, is a wholly-owned subsidiary of Arabella Exploration, Inc., a Cayman Islands corporation. The Debtor is an oil and gas exploration company that owns working interests in a number of oil and gas properties and interests. The Debtor filed a voluntary petition for relief under chapter 11 of the Bankruptcy Code (Bankr. N.D. Tex. Case No. 17-40120) on January 8, 2017. The petition was signed by Charles (Chip) Hoebeke, manager. The case is assigned to Judge Russell F. Nelms in Ft. Worth, Texas. Raymond W. Battaglia, Esq. of the Law Offices of Ray Battaglia, PLLC represents the Debtor. Miller Johnson serves as Battaglia's co-counsel. The Debtor has tapped Rehmann Turnaround and Receivership and Charles Hoebeke as its chief restructuring officer. At the time of filing, the Debtor estimated $1 million to $50 million in assets and liabilities. The Debtor did not include a list of its largest unsecured creditors when it filed the petition. No trustee, examiner or committee has been appointed in the case. ARCTIC GLACIER: Moody's Assigns B2 Corporate Family Rating ---------------------------------------------------------- Moody's Investors Service assigned Arctic Glacier U.S.A., Inc. (New) a B2 Corporate Family Rating (CFR) and a B3-PD Probability of Default Rating (PDR). At the same time, Moody's assigned a B2 rating to the company's proposed first lien credit facilities, which will be comprised of a $415 million first lien term loan and a $60 million revolving credit facility. The rating outlook is stable. At the close of the transaction, all ratings and the outlook for the pre-LBO rated entity Arctic Glacier U.S.A., Inc. will be withdrawn. Arctic Glacier is in the process of being acquired in a sponsor to sponsor transaction by private equity firm The Carlyle Group for total consideration of approximately $723 million. Proceeds from the proposed $415 million first lien term loan together with $345 million of sponsor contributed equity will be used to fund the $723 million purchase price of the company, pay approximately $28 million of estimated fees and expenses, and fund $10 million of cash to the balance sheet. The acquisition of Arctic Glacier is expected to be a deleveraging event for the company based on the proposed capital structure. According to Moody's AVP -- Analyst Brian Silver, "Arctic Glacier's pro forma out-of-the-box debt leverage will be in the mid-5 times range, reflective of a more conservative debt capital structure relative to the pre-LBO entity, and Moody's expects leverage to trend lower over the next few years, largely driven by voluntary debt repayment using free cash flow. Although the company is small in terms of revenues, it maintains a strong presence in the regions where it competes in the highly fragmented North American packaged ice industry." Moody's assigned the following ratings at Arctic Glacier U.S.A., Inc. (New) (subject to final documentation): Corporate Family Rating of B2; Probability of Default Rating of B3-PD; $60 million senior secured first lien revolving credit facility due 2022 of B2 (LGD3); $415 million senior secured first lien term loan due 2024 of B2 (LGD3); Rating outlook is stable. Moody's will withdraw the following ratings at Arctic Glacier U.S.A., Inc. at the close of the transaction (subject to final documentation): Corporate Family Rating of B3; Probability of Default Rating of B3-PD; $40 million senior secured first lien revolving credit facility due 2018 rated B1 (LGD3); $313.6 million principal senior secured first lien term loan due 2019 rated B1 (LGD3); The stable outlook will be removed at this entity. RATINGS RATIONALE Arctic Glacier's B2 Corporate Family Rating is constrained by the company's very narrow product focus and small size relative to the rated consumer packaged goods universe. The rating also considers the company's exposure to weather and regional economic conditions, very high degree of seasonality, and Moody's expectation that the company will continue to make bolt-on acquisitions over time in an effort to grow the company's size and scale. The company's FY16 pro forma out-of-the-box debt leverage is elevated at approximately 5.5 times (Moody's adjusted debt-to-EBITDA), but the company will reduce leverage to below 5.0 times over the next 12 to 18 months via voluntary debt repayment and to a lesser extent profit growth, as the company operates under a more conservative financial policy under new ownership. The rating derives support from Moody's understanding that the company is the second largest manufacturer and distributor of ice in the US and that the company has a leading position in the smaller Canadian market, as well as its relatively diverse customer base and strong EBITDA margins. The rating also derives support from the company's good liquidity profile. The stable outlook reflects Moody's expectation that Arctic Glacier will gradually grow its sales volumes while executing on its cost reduction initiatives such that profitability and cash flow generation improve and drive deleveraging. The outlook further assumes the company will remain acquisitive over time while maintaining at least a good liquidity profile. Although unlikely in the near-term, the ratings could be upgraded if the company increases its size and scale. The ratings could also be upgraded if debt-to-EBITDA improves and is sustained below 4.0 times and interest coverage approaches 2.0 times with an expectation that financial policies will support credit metrics at these levels. In addition, the company must maintain at least a good liquidity profile. Alternatively, the ratings could be downgraded if debt-to-EBITDA increases and approaches 6.0 times. In addition, if the company generates negative free cash flow on an annual basis and/or if there is a material weakening of the company's liquidity profile, the ratings could be downgraded. The principal methodology used in these ratings was Global Packaged Goods published in January 2017. Arctic Glacier U.S.A., Inc., a subsidiary of holding company Chill Parent, Inc., is a manufacturer, marketer, and distributor of packaged ice products in the US and Canada. The company sells to more than 75,000 retail locations including mass merchants, national and regional grocery chains, convenience stores, and gas stations among others. Arctic Glacier's infrastructure includes 96 production and distribution facilities and over 50,000 stand-alone merchandising freezer units. Arctic Glacier is in the process of being purchased by The Carlyle Group for approximately $723 million. The company generated FY16 preliminary unaudited revenue of approximately $278 million. ARIZONA ACADEMY: Disclosure Statement Hearing Set for March 30 -------------------------------------------------------------- The U.S. Bankruptcy Court for the District of Arizona is set to hold a hearing on March 30, at 2:30 p.m., to consider approval of the disclosure statement explaining the Chapter 11 plan of reorganization of Arizona Academy of Science and Technology Inc. The hearing will take place at Courtroom 601, 230 N. First Avenue, Phoenix, Arizona. Objections must be filed five business days prior to the hearing. Under the proposed plan, Class 5 unsecured creditors, which assert a claim in an amount less than $5,000, will be paid in full. Meanwhile, Class 6 unsecured creditors, which assert a claim greater than $5,000, will be paid 37.29%. Arizona Academy anticipates that it can afford to contribute 10% of its annual anticipate state equalization income to the plan. About Arizona Academy of Science and Technology Arizona Academy of Science and Technology, Inc., filed a Chapter 11 bankruptcy petition (Bankr. D. Ariz. Case No. 16-09573) on Aug. 18, 2016. Hon. Scott H. Gan presides over the case. Davis Miles McGuire Gardner, PLLC, represents the Debtor as counsel. In its petition, the Debtor estimated $0 to $50,000 in assets and $1 million to $10 million in liabilities. The petition was signed by Grant Creech, director. AXIOS LOGISTICS: Chapter 15 Case Summary ---------------------------------------- Chapter 15 Petitioner: A. Farber & Partners, Inc. Chapter 15 Debtors: Axios Logistics Solutions Inc. 17-10438 3422 Old Capitol Trail, Suite 700 Wilmington, DE 19808 Axios Mobile Assets, Inc. 17-10440 Axios Mobile Assets Inc. 17-10443 Axios Mobile Assets Corp. 17-10444 Type of Business: Supply chain logistics company that offers technologically advanced shipping pallets primarily to the perishable food industry. Chapter 15 Petition Date: February 28, 2017 Court: United States Bankruptcy Court District of Delaware (Delaware) Judge: Hon. Brendan Linehan Shannon Chapter 15 Petitioner's Counsel: Mark L. Desgrosseilliers, Esq. WOMBLE CARLYLE SANDRIDGE & RICE, LLP 222 Delaware Avenue, Suite 1501 Wilmington, DE 19801 Email: mdesgrosseilliers@wcsr.com - and - Morgan L. Patterson, Esq. WOMBLE CARLYLE SANDRIDGE & RICE LLP 222 Delaware Avenue, Suite 1501 Wilmington, DE 19801 Tel: 302-252-4326 Fax: 302-661-7726 Email: mpatterson@wcsr.com Total Assets: $5.57 million as of Sept. 30, 2016 Total Liabilities: $17.28 million as of Sept. 30, 2016 BBQ BOSS: Hires Kemp and Associates as Accountant ------------------------------------------------- BBQ Boss, LLC, seeks authority from the U.S. Bankruptcy Court for the Northern District of Alabama to employ Kemp and Associates, CPA PC as accountant to the Debtor. BBQ Boss requires Kemp and Associates to: a. assist the Debtor with its financial record keeping; b. gather tax basis information needed for puposes of income tax preparation; and c. prepare any returns that are necessary. Kemp and Associates will be paid at these hourly rates: Certified Public Accountant Services $195-$235 Senior Staff Accountant Services $125-$135 Staff Accountant Services $115 Bookkeeping Services $85-$95 Secretarial Services $85 Kemp and Associates will also be reimbursed for reasonable out-of-pocket expenses incurred. Terry Kemp, member of Kemp and Associates, CPA 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. Kemp and Associates can be reached at: Terry Kemp KEMP AND ASSOCIATES, CPA PC 303 E. 11th Street Anniston, AL 36207 Tel: (256) 237-5102 About BBQ Boss, LLC BBQ Boss, LLC of Oxford, AL, filed a voluntary petition under Chapter 11 of the United States Bankruptcy Court (Bankr. N.D. Ala. Case No. 17-40046) on January 12, 2017, disclosing under $1 million in both assets and liabilities. The Debtor is represented by Harry P. Long, Esq., as counsel. BCBG MAX AZRIA: Case Summary & 50 Largest Unsecured Creditors ------------------------------------------------------------- Debtor affiliates filing separate Chapter 11 bankruptcy petitions: Debtor Case No. ------ -------- BCBG Max Azria Global Holdings, LLC 17-10466 2761 Fruitland Avenue Vernon, CA 90058 BCBG Max Azria Group, LLC 17-10465 BCBG Max Azria Intermediate Holdings, LLC 17-10467 MLA Multibrand Holdings, LLC 17-10468 Max Rave, LLC 17-10469 Type of Business: Seller of women's apparel and accessories Chapter 11 Petition Date: February 28, 2017 Court: United States Bankruptcy Court Southern District of New York (Manhattan) Judge: Hon. Kay Vyskocil Debtors' Counsel: Joshua Sussberg, Esq. Christopher J. Marcus, Esq. KIRKLAND & ELLIS LLP KIRKLAND & ELLIS INTERNATIONAL LLP 601 Lexington Avenue New York, NY 10022 Tel: (212) 446-4800 Fax: (212) 446-4900 E-mail: jsussberg@kirkland.com joshua.sussberg@kirkland.com christopher.marcus@kirkland.com - and - James H.M. Sprayregen, Esq. Benjamin M. Rhode, Esq. KIRKLAND & ELLIS LLP KIRKLAND & ELLIS INTERNATIONAL LLP 300 North LaSalle Street Chicago, IL 60654 Tel: (312) 862-2000 Fax: (312) 862-2200 E-mail: james.sprayregen@kirkland.com benjamin.rhode@kirkland.com Debtors' Investment Banker: JEFFERIES, LLC Debtors' Restructuring Advisor: ALIXPARTNERS, LLP Debtors' Claims, Notice & Balloting Agent: DONLIN, RECANO & COMPANY, INC. Estimated Assets: $100 million to $500 million Estimated Debts: $500 million to $1 billion The petitions were signed by Holly Felder Etlin, authorized signatory. Debtors' List of 50 Largest Unsecured Creditors: Entity Nature of Claim Claim Amount ------ --------------- ------------ Silvereed (Hong Kong) Limited Trade $6,368,886 Centennial Building, 1st Floor 926 Cheung Sha Wan Road Kowloon, Hong Kong Attn: Nancy Yuans/Hokaki Tel: 852 3921-1924 Email: hoKaKi@GMRHK.com nancyyuans@lifung.com Mega Link International Trade $5,351,909 Holdings Limited Lladro Centre, 13th & 14th Floors 72-80 Hoi Yuen Road Kwun Tong, Kowloon, Hong Kong Attn: Sally Chan/Jeff Wong Tel: 011-852-2-370-8033 Email: sally.c@megalink.com.hk Jeff.w@megalink.com.hk Dada Trading Co. Ltd. Trade $4,270,789 388 21 Seokyo-Dong Mapo-Ku, Seoul, South Korea Attn: Yumi Park Tel: 82-2-326-1418/9 Email: yumi@dadatex.co.kr Renaissance Fashion Ltd. Trade $2,863,544 New Trend Centre, 18th Floor Room 18052 104 King Fuk St. San Po Kong, Kowloon, Hong Kong Attn: Catherine Wong Tel: 36166121 Email: catherine.wong@ren-fashion.com Trade Harvest Industrial Limited Trade $2,686,319 Premier Centre, 10th Floor, Room 7 20 Cheung Shun Street Kowloon, Hong Kong Attn: Climas Lo Tel: 852-3568-0268 Email: climas@hangluen.com.hk Kiaterry Textile Corp. Ltd. Trade $2,342,877 Cambridge House, Room 1401 26-28 Cameron Road Tsimshatsui, Kowloon, Hong Kong Attn: Linda Yip Tel: 0086-20-38306589 Email: linda@kiaterry.com.cn Kysazoze Limited Trade $2,241,567 Billion Plaza 2, 27th Floor, Flat D 10 Cheung Yue Street Cheung Sha Wan, Kowloon, Hong Kong Attn: Fiona Chiu Tel: 852-3188 8950 Email: fiona@kysazoze.com Coddy Global Ltd. Trade $2,134,621 Tun Hwa South Road, 13th Floor No. 2, Sec. 1 Taipei, Taiwan ROC Attn: Angela Lee/Sherry Tsai Tel: 886-2-2781-5550 ext 115 Email: Angela_Lee@coddy.com.tw Sherry_tsai@coddy.com.tw Aptos, Inc. Professional $2,036,108 15 Governor Drive Services Newburgh, NY 12550 Attn: Nathalie Roy Tel: 514-428-2278 Email: nroy@aptos.com Mystic Inc. Trade $2,026,166 P.O. Box 786105 Philadelphia, PA 19178-6105 Attn: Mukesh Patel Tel: 917-339-2536 Email: mpatel@hermankay.com Perf Star Global Limited Trade $1,743,089 Tun Hwa South Road, 12th Floor No. 2 Sec. 1 Taipei, Taiwan 10506 Attn: Landy Lee Tel: 02-27813880 Email: landy_lee@wintex.com.tw Polaris Handelsgesell Schaft Trade $1,564,870 Landstrasse Hauptstrasse 146-148/16/B2 Vienna, Austria A1030 Attn: Bettina Lichtenberger Tel: 43 1 7105133-24 Email: blichtenberger@polarisfamily.com A & Feng Fashion Ltd Trade $1,441,219 New Tech Plaza, 71st Floor, Room 702 34 Tai Yau St. San Po Kong, Attn: Jan Lam Tel: 2761 0390 Email: jan@fengfashion.com Best Silk Limited Trade $1,398,623 Silvercord Tower 2, 5th Floor, Unit 503 30 Canadaton Rd. Tsimshatsui, Kowloon, Hong Kong Attn: David He Wei Tel: 852-687-63718 Email: shipment@jiajuan.com Ernst & Young LLP Professional $1,393,294 P.O. Box 846793 Services Los Angeles, CA 90084-6793 Attn: Leslie DeHoff Tel: 213-240-7472 Email: leslie.dehoff@ey.com Simon Property Group, Inc. Contracts $1,384,067 225 West Washington Street Indianapolis, IN 46204 Attn: Dan Seabaugh Telephone: 317-263-7646 Email: dseabaugh@simon.com Collection 18 Trade $1,354,026 1370 Broadway, 17th Floor New York, NY 10018 Attn: Vincent Zheng Tel: N/A Email: vzheng@collectionxiix.com SAP Industries Inc. Professional $1,184,904 3999 West Chester Pike Services Newton Square, PA 19073 Attn: Matt Laukaitis Tel: 425-922-8072 Email: matt.laukaitis@sap.com Pepperjam, LLC Professional $1,169,258 P.O. Box 787432 Services Philadelphia, PA 19178 Attn: Jason Weidner Tel: 215-272-2983 Email: jaweidner@pepperjam.com Andari Fashion Inc. Trade $1,149,745 9626 Telstar Avenue El Monte, CA 91731 Attn: Wei Ling Tel: 626-575-2759 Email: Weiling.Kazuno@andari.com US Customs Service Trade $1,038,830 6650 Telecom Drive, Suite 100 Indianapolis, IN 46278 Attn: Kandace Niemi Tel: 877-227-5511 Fax: 206-592-2054 (direct) Email: kandace.niemi@apexglobe.com RL Criss Cross Inc. Trade $788,604 555 8th Ave., Suite 1910 New York, BY 10018 Attn: Richard Meng Tel: 86-021-32503203*807 Email: realinues@aol.com Hing Shing Looping Manufacturing Trade $787,305 Co. Ltd Wing Tai Centre, 10th Floor, Flat B 12 Hing Yip Street Kowloon, Hong Kong Attn: Yee Wong Tel: 2343 6072,3761 6300 Email: yee.wong@hingshing.com Winston & Strawn LLP Professional $781,243 36235 Treasury Center Services Chicago, IL 60694-6200 Attn: Dan Webb Telephone: 312-558-5856 Email: dwebb@winston.com FCI Groups, Inc. Trade $721,621 755 E. Pico Blvd. Los Angeles, CA 90021 Attn: Lente Bagunu Tel: 213-747-3900 Email: lentefci@gmail.com Forementini SRL Trade $710,046 Via A. Volta 414 Sant'Elpidio A Mare (FM), Italy 63811 Attn: Giovanni Pierantozzi Telephone: 073486381 Email: giovanni@formentini.it Rodeo Collection Ltd Contracts $583,110 9629 Brighton Way, 2nd Floor Beverly Hills, CA 90210 Attn: Bahador Mahboubi Tel: 310-275-9700 Email: bahador@dmanage.com Shanghai Shenda (Hong Kong) Trade $557,398 Company Ltd Tung Che Commerical Center, Flat/Room 2201 246 Des Voeuz Rd West Hong Kong Attn: Dongming Pan Tel: 86-139-0163-5309 Email: pan@panfame.com Leap Sheen Limited Trade $504,220 Wen-Hsin Road, 12th Floor, No. 306, Sec. 1 Taichung City, Taiwan 408. ROC Attn: Janna Chen Tel: 886-4-3283536 Email: jannac@maxgreat.com Priority Fulfillment Services, Inc. Professional $463,260 P.O. Box 95420 Services Grapevine, TX 76099-9734 Attn: Melanie Prada Tel: 972-881-2900 x 3683 Email: mprada@pfsweb.com Demandware, Inc. Professional $449,485 5 Wall Street Services Burlington, MA 01803 Attn: Paul DiBartolomeo Tel: 781-425-7547 Email: pdibartolomeo@demandware.com Gaflana Industry Limited Trade $393,624 The Third Industrial Zone, No. 8 Qing Feng 3rd Road Shijing, Baiyun District Guangzhou, China 510430 Attn: Kim Shek Tel: 86-20-8105-0622 #813 Email: kimshek@gaflana.com Galo Shoes, Inc. Contracts $373,749 150 Pompton Plains Crossroads Box 4505 Wayne, NJ 07474-4505 Attn: Felix Galo Tel: 201-641-0896 Email: fxg396@gmail.com Sears Holdings Corporation Contracts $372,416 12670 Collections Dr. Sublease, Unit 68738 Vernon, CA Chicago, IL 60693 Attn: Michael Dunne Sears Lease Accounting Tel: 847-286-4927 Email: michael.dunne@searshc.com Morinda International Trade $371,491 Corporation Ltd 1522 Nan Fung Center 264-298 Canadastle Peak Tseun Wan, L New Territories, Hong Kong Attn: Allan Xue Tel: 0086-769-83332684 Email: morindajane@morinda-cn.com T1 Atelier Company Ltd. Contracts $356,286 Laford Center, 11th Floor, Units 07-08 838 Lai Chi Kok Road Cheun Sha Wan, Kowloon, Hong Kong Attn: Kim Chun Tel: 852-3104-1061 Email: kimchun.kh@t1atelier.com Westin St Francis Hotel Contracts $341,249 335 Powell St. San Francisco, CA 94102 Attn: Marcelo Infante Tel: 415-774-0131 Email: marcelo.infante@westin.com VCS Group LLC Trade $323,716 3451 Bonita Bay Blvd., Suite 200 Bonita Springs, FL 34134 Attn: Sonya Voronkova/Camuto Group Tel: 239-301-3019 Email: sonya.voronkova@camutogroup.com Prime Apparel, Inc. Trade $313,548 5667 Mansfield Way Bell, CA 90201 Attn: Irene Mac Tel: 323-269-6106 Email: irenem@primeapparelinc.com Sinosky Corporation Ltd Trade $310,469 Sinosky Building Hu Zhou Street, No. 18 Gongshu District Hangzhou, China 310015 Attn: Shelly Jiang Tel: 86-571-89919733 Email: shellyjiang@sinoskycorp.com Dave Foster Builders, Inc. Trade $301,253 2290 Alahao Place, Unit 400 Honolulu, HI 96819 Attn: David Foster Tel: 808-848-2101 Email: dave@davefosterbuilders.com Velocity Technology Solutions, Inc. Professional $300,972 1901 Roxborough Road, 4th Floor Services Charlotte, NC 28211 Attn: Theresa Prewett Tel: 904-716-7011 Email: theresa.prewett@velocitycloud.com Criteo Corp. Professional $300,097 P.O. Box 392422 Services Pittsburgh, PA 15251-9422 Attn: Julie Wu Tel: 917-204-0562 Email: j.wu@criteo.com FedEx Trade $298,090 500 Ross Street, Room 154-0455 Pittsburgh, PA 15262 Attn: Belinda Nolte Tel: 855-285-7012x3042 Email: belinda.nolte@fedex.com Twitter, Inc. Professional $294,621 P.O. Box 12027 Services Newark, NJ 07101-5027 Attn: Joan Juan Tel: 00632-433-6500 loc 18712 Email: joanjuan@twitter.com Daejee Metal Co. Ltd Trade $291,181 173-5 Sukchon Dong, Songpa Gu Seoul, South Korea Attn: Sunny Kim Tel: 82-2-416-9081 Email: sunny@daejee.net Westfield Contracts $290,085 11601 Wilshire Blvd., 11th Floor Los Angeles, CA 90025 Attn: John Kim Tel: 310-478-4456 Email: jkim@westfield.com 1450 Broadway, LLC Contracts $288,756 1375 Broadway, 12th Floor New York, NY 10018 Attn: Bobby Zar Tel: 212-944-2510 Email: bobby@azrgroupny.com Huge Well (Hong Kong) Ltd Trade $286,777 Yu Feng International Building, 22nd Floor West Yan An Road, No. 777 Shanghai, China 200050 Attn: Cherry Wang Tel: 86-216-225-6000 Email: cherrywang@generalorientltd.com West Coast Distribution Trade $286,353 (Contractors) 2608 37th St. Vernon, CA 90058 Attn: Alex Francia Tel: 323-374-6706 Email: alexf@wcdistribution.com BCBG MAX: Files for Chapter 11 With Reorganization Plan ------------------------------------------------------- BCBG Max Azria Group, LLC on March 1, 2017, disclosed that the Company and certain of its affiliates have taken the next step in the restructuring of its brands and operations by filing voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code. In order to effectuate its reorganization efforts, the Company has obtained a commitment of $45 million in new financing and also filed a chapter 11 plan of reorganization. The restructuring is intended to facilitate the continued success of these iconic brands through a sale, merger or similar transaction of the Company or its assets, including its intellectual property, or a standalone restructuring, all as contemplated in the chapter 11 plan filed on March 1. The Company's Canadian affiliate is commencing a separate filing for voluntary reorganization proceedings under Canada's Bankruptcy and Insolvency Act. Additional information can be found at https://www.donlinrecano.com/bcbg As previously disclosed, the Company is repositioning itself for the future with a focus on partner relationships, digital, ecommerce, selected retail locations, and wholesale and licensing arrangements. The Company expects to complete its reorganization within six months. Stores will remain open during this process. Like many other pioneering apparel businesses, BCBG is adapting to fundamental changes in the industry, including how customers shop. "BCBG is an iconic brand that launched the contemporary sector over 28 years ago," said Marty Staff, Acting Interim Chief Executive Officer of BCBG Max Azria Group, LLC. "The steps we are taking now, to address the shift in customer shopping patterns and the growth of online shopping, will allow us to focus on our partner relationships, digital, ecommerce, selected retail locations, and wholesale and licensing arrangements. The chapter 11 filing will further aid the implementation of these steps and overall strategy while we explore opportunities to recapitalize the Company and profitably expand our international footprint." Earlier this month, the Company disclosed the closure of 120 retail stores as part of its restructuring efforts. The Company is also taking steps to close its freestanding stores in Canada, and consolidate its operations in Europe and Japan. The Company received commitments from its existing asset-based and term loan lenders to provide financing during the course of the Chapter 11 process. Certain of the term loan lenders have committed to provide new financing of up to $45 million. The DIP financing will be used for ordinary working capital purposes and to ensure normal operations during the Chapter 11 process, allowing the Company to address its balance sheet and restructure operations. "We expect to maintain the personalized level of customer service to our customers at each of our in-store boutiques, stand-alone retail stores, and online platform throughout this process," said Mr. Staff. "BCBG will continue to work with its partners and other wholesale and licensing arrangements to strengthen our brands to meet customers' tastes and shopping styles." In conjunction with the petitions filed on February 28, in the United States Bankruptcy Court for the Southern District of New York, BCBG filed a series of motions that, pending Court approval, will allow the Company to operate its business throughout the process. The first day motions will allow the Company to continue to buy goods and sell its contemporary clothing and accessories to its customer base. Staff added, "We are grateful for the continued support of our customers, vendors, business partners, and our dedicated employees, who are the lifeblood of the Company." BCBG Max Azria Group, LLC is being advised by AlixPartners, LLP and Jefferies LLC as its restructuring advisors, and by Kirkland & Ellis LLP as its legal advisor. About BCBG Max Azria Group, LLC BCBG Max Azria Group began with a single idea -- to create a beautiful dress. Founded in 1989, BCBG was named for the French phrase "bon chic, bon genre," a Parisian slang meaning "good style, good attitude." The brand embodies a true combination of European sophistication and American spirit. The BCBG Max Azria label is sold online, in freestanding boutiques and partner shops at top department stores across the globe. BENCHMARK ELECTRONICS: S&P Affirms 'BB' CCR; Outlook Stable ----------------------------------------------------------- S&P Global Ratings said that it affirmed its 'BB' corporate credit rating on Benchmark Electronics Inc. The outlook is stable. S&P's rating on Benchmark reflects the company's competition from larger players, limited earnings visibility, and highly competitive industry conditions. Benchmark remains exposed to more mature computer and telecommunications segments, but the company benefits from strategic focus on nontraditional EMS segments that have higher growth and profitability characteristics. Benchmark's business risk profile incorporates S&P's aforementioned view of its highly competitive global industry with significantly larger players and limited earnings visibility. The company also has meaningful customer concentration, with sales to its top 10 customers accounting for 47% of 2015 revenues. S&P expects this share declined in 2016 as IBM Corp.'s share of revenue fell below 10% and a large telecommunications program wound down in the second quarter. The share of the top 10 customers is in line with or better than that of EMS peers, but S&P views this level as high for the technology hardware industry. The company derives less than 40% of its revenues from the more mature computing and telecommunications segments, and S&P expects its operating performance to benefit from its strategic focus on the industrial and medical segments, which have less volatile revenue, longer product life cycles, and better profitability. The company's EBITDA margins compare favorably with those of competitors Flex and Sanmina, due to a richer mix. With S&P Global Ratings-adjusted EBITDA of approximately $151 million in fiscal-year 2016, Benchmark provides integrated electronic manufacturing services in the Americas, Asia, and Europe to the communication, defense and aerospace, industrial, medical, and computer original equipment manufacturing (OEM) markets. It provides engineering solutions -- including design, prototype, test, and related engineering -- and offers manufacturing and fulfillment solutions, and failure analytical solutions. S&P's view of Benchmark's financial risk profile reflects leverage of 1.7x as of fiscal 2016, up from near 0x before its acquisition of Secured Technology in late 2015. In the past, the company has pursued modest acquisitions and share buybacks. There is almost no capacity within the rating to support another debt-funded acquisition. S&P notes that activist investor Engaged Capital owns about 5% of shares and its nominees won two of eight board seats, which could result in changes in financial policy or operating strategy. S&P's base case assumes: -- Real global GDP growth of 3.2% in 2016, 3.5% in 2017, and 3.6% in 2018. -- Real U.S. GDP growth of 1.6% in 2016, 2.4% in 2017, and 2.3% in 2018. -- Flat to low-single-digit percentage hardware industry decline. -- High-single-digit percentage revenue decline in 2016, improving to low-single-digit growth in 2017, in between S&P's macroeconomic and industry expectations, as declines in the computing and telecom segments initially offset growth in the medical and test segments. -- Stable EBITDA margin in the low- to mid-7% area in 2017 and 2018. -- Annual capital expenditures (capex) around $40 million. -- S&P does not incorporate assumptions about acquisitions into its forecast given uncertainty around timing and sizing. Based on these assumptions, S&P arrives at these credit measures: -- Debt to EBITDA of around 1.5x at the end of fiscal 2017. S&P revised its assessment of Benchmark's liquidity to strong from adequate, based on strong free cash flow generation. S&P anticipates coverage of uses above 19x for the next 24 months and net sources to be positive, even if the company's EBITDA declines by 30%. Principal liquidity sources: -- A cash balance of $636 million at Sept. 30, 2016; -- Full availability under the company's $200 million revolving credit facility expiring Nov. 12, 2020; and -- Expected annual cash funds from operations (FFO) around $150 million. Principal liquidity uses: -- Capex in the $40 million-$50 million range annually; and -- Modest working capital uses. Despite measureable liquidity sources and uses that may suggest a higher liquidity assessment, S&P limits its assessment to strong due to qualitative factors. S&P believes that to absorb a high-impact, low-probability event, the company would require some refinancing. S&P also views the company as having satisfactory but not high standing in credit markets. Covenants Benchmark's revolving credit facility and term loan are subject to maximum gross leverage and minimum interest covenants. S&P expects it to maintain cushion of 50% or more under both. Other liquidity factors Despite some liquidity measures that may suggest a higher assessment, S&P limits its assessment to strong. S&P believes the company has sound but not well-established or solid relationships with banks and satisfactory but not high standing in credit markets, both evident in the fact that its credit facility is secured and the commitment is relatively small. The stable outlook reflects S&P's expectation that Benchmark's strategic focus on higher-margin, more stable end markets will result in consistent operating performance and FOCF over the next 12 months. S&P could lower the rating if increased competition or the loss of a key customer causes a material decline in EBITDA, or if the company pursues debt-financed acquisitions or shareholder returns such that adjusted leverage exceeds 2x on a sustained basis. This could occur if the company adds $50 million in debt or if EBITDA declines by 15%. S&P is unlikely to raise the rating given highly competitive industry conditions and Benchmark's vulnerability to earnings volatility resulting from its relatively modest operating scale. S&P would consider raising the rating if these factors improve sufficiently, although it do not expect to do so over the next 12 months. Other Credit Considerations S&P's negative comparable rating analysis assessment reflects Benchmark's relatively small operating scale compared with other hardware companies, limited earnings visibility, and its vulnerability to volatility in its operating performance. BENJAMIN EYE CARE: Can Continue Using Cash Collateral Until March 9 ------------------------------------------------------------------- Judge Pamela S. Hollis of the U.S. Bankruptcy Court for the Northern District of Illinois authorized Benjamin Eye Care, LLC, to continue using cash collateral until March 9, 2017. A full-text copy of the Order, entered on Feb. 23, 2017, is available at http://tinyurl.com/jdtjwng About Benjamin Eye Care Benjamin Eye Care, LLC filed a voluntary petition under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ill. Case No. 16-36409) on November 15, 2016. The petition was signed by Dr. Mark Benjamin, owner. At the time of filing, the Debtor estimated assets of less than $50,000 and liabilities at $500,000 to $1 million. The Debtor is represented by Brian K. Wright, Esq., at Brian Wright & Associates, P.C. The Debtor engaged Michael J. Davis, Esq., at BKN Murray LLP as co-counsel. BERRY PETROLEUM: Exits Chapter 11 Bankruptcy Protection ------------------------------------------------------- Berry Petroleum Company LLC successfully emerged from bankruptcy on Feb. 28, 2017, following confirmation of its Chapter 11 plan of reorganization by the Honorable Judge David R. Jones of the U.S. Bankruptcy Court for the District of Texas in January. Financially restructured, Berry emerges as a stable, well capitalized stand-alone company. Berry was previously a wholly-owned subsidiary of LINN Energy LLC. "Berry's emergence from bankruptcy would not be possible if not for the support of our dedicated employees, whose hard work and focus contributed greatly to the successful result we have today," said Berry Chief Executive Officer Trem Smith. "I would also like to thank our customers, vendors and contractors for their continued loyalty and support, as well as our new owners whose willingness to further invest in Berry demonstrates their confidence and continued optimism in Berry's future. Berry is stronger than ever. We remain committed to our current asset base and focused on growth opportunities in surrounding areas, particularly in California." Berry is headquartered in Bakersfield, CA, and the company owns and operates oil and gas properties in California, Colorado, Utah, Kansas and Texas. About Berry Petroleum Company LLC Berry is an independent privately-held energy company engaged in the acquisition, exploration, development and production of domestic oil and natural gas reserves primarily focused in the San Joaquin Basin in California, the Uinta Basin in Utah, the Piceance Basin in Colorado, and the Hugoton Field in Kansas. About Linn Energy Headquartered in Houston, Texas, Linn Energy, LLC, and its affiliates are independent oil and natural gas companies. The LINN Debtors and Berry are operationally integrated. The Debtors' workforce, which is not unionized, includes approximately 1,650 employees. Collectively, as of year-end 2015, the Debtors have approximately 27,000 gross productive wells in the United States, including in California, Colorado, Illinois, Kansas, Louisiana, Michigan, New Mexico, North Dakota, Oklahoma, Texas, Utah, and Wyoming. As of year-end 2015, the Debtors had approximately 4.5 trillion cubic feet equivalent of proved reserves, of which approximately 26 percent were oil, 59 percent were natural gas, and 15 percent were natural gas liquids. The Debtors also own and operate pipelines, processing facilities, and steam generators to support their production activities. Michael C. Linn, a director on the Linn Energy and LinnCo boards, founded LINN Energy in 2003. Since then, the Debtors have grown from a small operator of natural gas wells into one of the largest independent oil and gas companies in the United States. Over the ensuing period, the Debtors carried out over 60 acquisitions and other transactions with a total value of approximately $17 billion. In December 2013, the Debtors acquired Berry in a stock-for-stock transaction valued at approximately $4.6 billion, inclusive of Berry's net funded debt. To effectuate the transaction, LinnCo acquired all of Berry's outstanding shares in exchange for the issuance of LinnCo shares, and Berry's pre-acquisition funded debt remained outstanding. Each of Linn Energy, LLC and 14 of its subsidiaries filed a voluntary petition under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Proposed Lead Case No. 16-60040) on May 11, 2016. The petitions were signed by Arden L. Walker, Jr., chief operating officer of LINN Energy. The Debtors have hired Kirkland & Ellis LLP and Kirkland & Ellis International LLP as general bankruptcy counsel, Jackson Walker L.L.P. as co-counsel, Lazard Freres & Co. LLC as financial advisor, AlixPartners as restructuring advisor and Prime Clerk LLC as claims, notice and balloting agent. The cases are pending joint administration before Judge David R. Jones. BILTMORE 24: Disclosure Statement Hearing Set for April 12 ---------------------------------------------------------- The U.S. Bankruptcy Court for the District of Arizona is set to hold a hearing on April 12, at 11:00 a.m., to consider approval of the disclosure statement explaining the Chapter 11 plan of reorganization of Biltmore 24 Investors SPE, LLC. The hearing will take place at Courtroom No. 701, 230 N. First Avenue, Phoenix, Arizona. Objections are due by April 5, 2017. The plan filed on Feb. 20 proposes to pay creditors through a sale of Biltmore's multifamily housing unit, which stands on an eight-acre land in Phoenix. About Biltmore 24 Investors Biltmore 24 Investors SPE, LLC, was formed for the purpose of real estate acquisition and ownership. The Debtor is owned by Biltmore 24 Investors, LLC, and is managed by Bruce Gray. The Debtor sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Ariz. Case No. 16-13358) on Nov. 22, 2016. The petition was signed by Bruce Gray, manager. The case is assigned to Judge Paul Sala. The Debtor hires Mesch Clark Rothschild as substitute counsel to Stinson Leonard Street. At the time of the filing, the Debtor estimated its assets at $50 million to $100 million and debts at $10 million to $50 million. On February 20, 2017, the Debtor filed its Chapter 11 plan of reorganization and disclosure statement. The plan proposes to sell the Debtor's multifamily housing unit, which stands on an eight-acre land in Phoenix, to pay its creditors. BRIGGS & STRATTON: Moody's Affirms Ba3 Corporate Family Rating -------------------------------------------------------------- Moody's Investors Service affirmed Briggs & Stratton Corporation's ratings including its Ba3 Corporate Family Rating (CFR) and Ba3-PD Probability of Default ratings. Concurrently, Moody's affirmed the company's Ba3 senior unsecured notes rating and assigned a Speculative Grade Liquidity ("SGL") Rating of SGL-3. The ratings outlook is stable. Moody's took the following rating actions on Briggs & Stratton Corporation: Corporate Family Rating, affirmed at Ba3 Probability of Default Rating, affirmed at Ba3-PD 6.875% senior notes due December 2020, affirmed at Ba3, LGD-4 Speculative Grade Liquidity rating, assigned at SGL-3 Outlook: Stable RATINGS RATIONALE The Ba3 CFR of Briggs & Stratton reflects the company's relatively low funded debt levels that serve to partially mitigate the high degree of seasonality in the company's business. The ratings also incorporate Moody's view that the company will maintain a leading market position for its engines. The company's engines are used in a variety of products including residential and commercial lawn and garden and equipment, generators, pumps and pressure washers. Within its products segment, the company also sells generators, pressure washers, snow throwers and lawn and garden power equipment and job site products. The seasonal nature of the company's business leads to a high degree of quarterly cash flow variation and related revolver borrowings during the year. Borrowings have been particularly elevated at January 1, 2017 due to inventory build-up to support the company's commercial lawn and garden. Moody's anticipates in the ratings that the company will continue its typical season pattern of fully repaying revolver drawings by the end of its fiscal year in June since cash flows are positive in the second half of the fiscal year. Briggs & Stratton is weakly positioned in the Ba3 rating category because of modest revenue pressure and low operating margins, as well as its negative free cash flow over the last 12 months. Moody's believes the headwinds the company faces to generate meaningful revenue growth and higher margins elevates event risk. The highly competitive nature of the company's lawn and garden end-markets are contributing to a low EBITA margin. The company has made progress in recent years in expanding margins through a mix of higher margin products including a bigger push into the commercial segment of the market, exiting sales through the mass retail channel for certain of its products as well as restructuring and cost reduction initiatives. Briggs & Stratton's current leverage profile is higher than in recent periods largely due to an increase in the company's reported underfunded pension obligation that increased to $313 million as of its 2016 fiscal year-end versus $212 million at 2015. Moody's projected debt-to-EBITDA leverage of 4.2x (incorporating Moody's standard adjustments and affiliate equity income) for the last twelve months ended January 1, 2017 will remain in a 4x range over the next 12 months-- a level that is on the higher end of Moody's expectations for the rating category given the company's operating profile. Briggs & Stratton's SGL-3 rating reflects the company's adequate liquidity based on Moody's projection for $10 - $20 million of free cash flow over the next 12 months, the company's cash balance ($47 million as of 1/1/2017), lack of meaningful debt maturities, and good availability under the company's $500 million revolving credit facility due 2021. The company's unencumbered assets also provide flexibility to grant security if additional capital is needed. Briggs & Stratton utilizes revolver borrowings to fund its highly seasonal cash flow since inventory is built in advance of the peak spring selling season. Moody's expects the company will repay the $132.1 million of revolver draws as of 1/1/17 by the end of its fiscal year in June. Moody's also believes Briggs & Stratton has good cushion within the revolver's financial maintenance covenants. The stable outlook reflects Moody's expectation that the company will return to positive free cash flow over the next 12 months through its management of working capital and moderately improved EBITA margins and will continue to maintain adequate liquidity. Moody's also anticipates in the stable rating outlook that new product roll-outs should offset some of the top line revenue pressure. The ratings could be downgraded if the company's revenue performance does not improve, margins come under renewed pressure or if Briggs & Stratton does not restore comfortably positive free cash flow. A weakening of liquidity including if incremental working capital investments are necessary to support growth in the commercial side of the business could also lead to a downgrade. A more aggressive financial policy in the form of debt-funded share repurchases or dividend payouts, or debt funded acquisitions could also pressure ratings. EBITA/interest expense falling below 2.5x or debt to EBITDA exceeding 4.25x (on a Moody's adjusted basis) could result in a ratings downgrade. Although not anticipated over the intermediate term, the ratings could be upgraded if the company maintains a well-balanced financial policy with low funded debt levels and strong ability to fund dividends and share repurchases from cash flow. Good revenue performance, a meaningful improvement in the EBITA margin, strong free cash flow, debt-to-EBITDA sustained below 3.0x, and improved liquidity would be necessary for an upgrade. The principal methodology used in these ratings was Global Manufacturing Companies published in July 2014. Briggs & Stratton Corporation is the world's largest producer of gasoline engines for outdoor power equipment and is a leading designer, manufacturer and marketer of power generation, pressure washers, lawn and garden, turf care and job site products. Engines (about 60% of revenues) are used primarily by the lawn and garden equipment industry. The Products Segment (about 40% of revenues) include portable and standby generators, pressure washers, snow throwers, lawn and garden power equipment, turf care, and job site products. Revenue for the last twelve month period ended Jan. 1, 2017 totaled $1.8 billion. CABALLO2015 LLC: Hires Minkin & Harnisch as Special Counsel ----------------------------------------------------------- Caballo2015, LLC, seeks authority from the U.S. Bankruptcy Court for the District of Arizona to employ Minkin & Harnisch PLLC as special counsel. Caballo2015 requires Minkin & Harnisch to: a. take all necessary action to protect and preserve the Debtor's estate, including filing adversary proceedings and contested matters and the prosecution of such actions on Debtor's behalf, the defense of any actions commenced against it, negotiations concerning all litigation in which the Debtor is involved and objecting to claims filed against the Debtor's estate; b. prepare, on the Debtor's behalf, any appropriate motions, applications, answers, orders, reports and papers requested by lead counsel or the Debtor; c. assist with the prosecution, on the Debtor's behalf, of the Debtor's plan of reorganization, disclosure statement, and all related agreements and documents, or supplement or amend any currently-filed plan-related documents, and take any necessary action on behalf of the Debtor to obtain confirmation of such plan; d. attend meetings with third parties and participate in negotiations with respect to the above matters; e. appear before the Court, any appellate courts, and the U.S. Trustee and protecting the interests of the Debtor's estate before such courts and the U.S. Trustee; and f. perform all other necessary legal services in connection with the above, and provide all other necessary legal advice as requested by lead Debtor's counsel and the Debtor in connection with the case. Minkin & Harnisch will be paid at these hourly rates: Andrew Harnisch $350 Jaclyn D. Foutz $315 Minkin & Harnisch will be paid a retainer in the amount of $5,000. Minkin & Harnisch will also be reimbursed for reasonable out-of-pocket expenses incurred. Andrew Harnisch, member of Minkin & Harnisch 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. Minkin & Harnisch can be reached at: Andrew Harnisch, Esq. MINKIN & HARNISCH PLLC 6515 N. 12th Street, Suite B Phoenix, AZ 85014 Tel: (602) 639-3563 About Caballo2015, LLC Caballo2015, LLC, based in Paradise Valley, AZ, filed a Chapter 11 petition (Bankr. D. Ariz. Case No. 15-15659) on Dec. 14, 2015. The Hon. Daniel P. Collins presides over the case. In its petition, the Debtor estimated $1.2 million in assets and $1.4 million in liabilities. The petition was signed by Ignacio Martinez, manager. The Debtor tapped Carlos M. Arboleda, Esq., at Arboleda Brechner, to serve as bankruptcy counsel. CALMARE THERAPEUTICS: Bard Associates Has 12.5% Stake as of Dec. 31 ------------------------------------------------------------------- In a Schedule 13G filed with the Securities and Exchange Commission, Bard Associates, Inc. disclosed that as of Dec. 31, 2016, it beneficially owns 3,750,025 shares of common stock of Calmare Therapeutics, Inc. representing 12.5 percent of the shares outstanding. A full-text copy of the regulatory filing is available for free at https://is.gd/G6QXTd About Calmare Therapeutics Calmare Therapeutics Incorporated, formerly known as Competitive Technologies, Inc., provides distribution, patent and technology transfer, sales and licensing services focused on the needs of its customers and matching those requirements with commercially viable product or technology solutions. Sales of the Company's Calmare(R) pain therapy medical device continue to be the major source of revenue for the Company. Calmare reported a net loss of $3.67 million on $891,000 of product sales for the year ended Dec. 31, 2015, compared to a net loss of $3.41 million on $1.04 million of product sales for the year ended Dec. 31, 2014. As of Sept. 30, 2016, Calmare had $3.98 million in total assets, $16.64 million in total liabilities, all current, and a total stockholders' deficit of $12.65 million. Mayer Hoffman McCann CPAs, in New York, issued a "going concern" qualification on the consolidated financial statements for the year ended Dec. 31, 2015, citing that the Company has incurred operating losses since fiscal year 2006 and has a working capital and shareholders' deficiency at Dec. 31, 2015. These conditions raise substantial doubt about the Company's ability to continue as a going concern. CARING HANDS HOME CARE: PCO Appointment Not Necessary, Judge Says ----------------------------------------------------------------- Judge Michael E. Ridgway of the U.S. Bankruptcy Court for the District of Minnesota entered an Order providing that the U.S. Trustee need not to appoint a patient care ombudsman for Caring Hands Home Care, Inc. The Order was made in response to the Debtor's Motion for the Determination that a Patient Care Ombudsman is Not Necessary. The Court further ordered the U.S. Trustee to file a Motion for a patient care ombudsman at a later date if he determines that the need for a patient care ombudsman has risen. About Caring Hands Home Care Caring Hands Home Care, Inc. filed its voluntary petition for relief under Chapter 11 of Title 11 of the United States Code (Bankr. D. Minn. Case No. 17-60044), on January 27, 2017 and is currently operating as debtor-in-possession. The Debtor is represented by Erik A Ahlgren, Esq. -- erikahlgren@charter.net -- at Ahlgren Law Office. CE GENERATION: S&P Affirms 'CCC' Rating on $400MM Secured Bonds --------------------------------------------------------------- S&P Global Ratings revised the outlook to stable from negative and affirmed the 'CCC' rating on CE Generation LLC's (CE Gen) $400 million secured bonds due 2018. The recovery rating remains unchanged at '2' (85%). S&P derives its 'CCC' senior secured rating from S&P's operations stand-alone credit profile of 'ccc' because debt service coverage is below 1.0x and the project will likely deplete liquidity reserves in one year. The rating is based on the 'CCC' criteria, which override the operations phase assessments and typical notching. S&P anticipates that the project's main subsidiary, SSFC, will not meet a 1.5x distribution test and therefore will not be able to make distributions during the remaining term of the bonds. Hence, aside from ongoing parental contributions, CE Gen does not have adequate funds available to meet its debt obligations over the next 12 months. S&P Global Ratings defines the 'CCC' issue credit rating as follows: "An obligation rated 'CCC' is currently vulnerable to nonpayment, and is dependent upon favorable business, financial, and economic conditions for the obligor to meet its financial commitment on the obligation. In the event of adverse business, financial, or economic conditions, the obligor is not likely to have the capacity to meet its financial commitment on the obligation." S&P assigned a 'CCC' rating, rather than a 'CCC+' rating, since specific default scenarios are envisioned over the next 12 months, namely if the parent company ceases to pay most of the issuer's debt service. For 'CCC-', a default would appear to be inevitable within six months, which is unlikely in S&P's view. "We revised the outlook to stable from negative due to steady payments on the bonds and a fully available debt service reserve, which makes it less likely that a default may occur as the bonds near maturity next year," said S&P Global Ratings credit analyst Antonio Bettinelli. Liquidity reserves remain unchanged because the parent company has continued to inject equity payments to pay all scheduled debt. S&P believes the economic incentives remain high for the parent company to support the project, given the level of debt remaining, next year's maturity date, and the assumed value of the assets, particularly SSFC, which is able to re-contract long term capacity at favorable renewable energy pricing. COLORADO 2002B: Unsecureds to Recover 100% Under Chapter 11 Plan ---------------------------------------------------------------- Colorado 2002B Limited Partnership and Colorado 2002C Limited Partnership filed with the U.S. Bankruptcy Court for the Northern District of Texas a disclosure statement dated Feb. 21, 2016, referring to the Debtor's plan of reorganization. Classes 3A and 3B General Unsecured Claims will recover 100% under Plan. Each holder of an Allowed Class 3 Claim against a Debtor will be paid in cash in full from the Debtor on (or as soon as reasonably practicable after) the later of (i) the Effective Date or (ii) 14 days after the General Unsecured Claim becomes Allowed. Holders of General Unsecured Claims are unimpaired, deemed to accept the Plan, and not entitled to vote thereon. Classes Classes 4A and 4B: Equity Interests are impaired. Except to the extent that a holder of an Allowed Equity Interest in a Debtor agrees to a different treatment, each holder of an Allowed Equity Interest in a Debtor will receive, in one or more distributions upon and after the Effective Date, or at such other time set forth in the Plan, its Pro Rata share of any Cash remaining with the applicable Debtor after (i) payment of Allowed Administrative Expense Claims, Allowed Priority Claims, and Allowed Claims in Classes 1A, 1B, 2A, 2B, 3A and 3B against the applicable Debtor. The timing of distributions to holders of Allowed Equity Interests will be as set forth in section 7.1 of the Plan. No portion of the Direct Claim Settlement Payments will be paid to PDC. The Plan contemplates that all of the Debtors' cash on hand, and all cash received in connection with the sale of the Debtors' assets and the settlement of claims against the Managing General Partner, will be paid to the holders of Allowed Claims and Allowed Equity Interests on the terms set forth in the Plan. The Initial Distribution will be made on the Effective Date and subsequent interim distributions may be made as and when the Responsible Party deems appropriate based on the progress of closing down the Chapter 11 cases. After all costs and expenses of closing down the Chapter 11 Cases have been paid, a final distribution will be made to holders of Allowed Claims and Allowed Equity Interests. It is anticipated that the bulk of the funds will be distributed prior to June 30, 2017. All distributions under the Plan shall be made from Cash on hand as of the Effective Date and all Cash subsequently received by the Debtors, if any. The Disclosure Statement is available at: http://bankrupt.com/misc/txnb16-33743-88.pdf About Colorado 2002B Colorado 2002B Limited Partnership (Bankr. N.D. Tex. Case No. 16-33743) and Colorado 2002C Limited Partnership (Bankr. N.D. Tex. Case No. 16-33744) filed separate Chapter 11 petitions on Sept. 24, 2016, and are represented by Jason S. Brookner, Esq., at Gray Reed & McGraw, P.C. COLORADO BUYER: Moody's Assigns B1 Corporate Family Rating ---------------------------------------------------------- Moody's Investors Service has assigned a first-time B1 corporate family rating (CFR) and a B1-PD probability of default rating (PD) to Colorado Buyer Inc. Moody's has also assigned a Ba3 (LGD3) rating to the company's proposed $965 million senior secured 1st lien credit facility which consists of a $815 million 7 year term loan and a $150 million 5 year revolver. Additionally, Moody's has assigned a B3 (LGD 5) rating to the proposed $310 million 2nd lien 8 year term loan. Cyxtera is the spinoff of CenturyLink's data centers and colocation business. The proceeds from the secured credit facilities and new equity will be used to fund the acquisition of Cyxtera by funds advised by BC Partners and Medina Capital Advisors along with Longview Asset Management. Issuer: Colorado Buyer Inc. Assignments: -- Corporate Family Rating, Assigned B1 -- Probability of Default Rating, Assigned B1-PD -- Senior Secured 1st Lien Bank Credit Facilities, Assigned Ba3 (LGD3) -- Senior Secured 2nd Lien Bank Credit Facility, Assigned B3 (LGD5) Outlook Actions: -- Outlook, Assigned Stable RATINGS RATIONALE Cyxtera's B1 CFR reflects its position as the second largest global independent data center operator offering retail colocation and interconnection services. The rating also incorporates the company's stable base of contracted recurring revenues, strong network footprint and the favorable near-term growth trends for data center services across the world. These positive factors are offset by moderately high leverage, significant industry risks, intensifying competition and the potential for higher capital intensity in the future. Despite the high capital intensity inherent with the industry, Moody's expects Cyxtera to generate meaningful free cash flow over at least the next two years due to heavy investment previously sunk into the business. Moody's expects Cyxtera to have leverage around 5.5x (Moody's adjusted) at year end 2017. Moody's forecasts free cash flow of around $75 million to $100 million due to modest capital spending at about 10% of revenue during 2017 and 2018. Moody's estimates that leverage will decline to 4.8x (Moody's adjusted) by year end 2018. Cyxtera's capital intensity will be meaningfully below its data center peer group average of 25% of revenues or more. Given the industry trends, Moody's believes that Cyxtera could increase capital spending in the future to satisfy strong market demand. Moody's has sensitized the rating to this scenario, which would result in weaker free cash flows but stronger revenue and EBITDA growth. Therefore, a high-growth scenario would still fit within the B1 rating as leverage would decline faster through EBITDA growth versus the base case (i.e. modest growth) where cash flows support debt repayment. The company's starting point with low utilization at around 65% offers a period of time where capital spending can be low and sales growth can accelerate. Moody's expects Cyxtera to have good liquidity over the next twelve months. Following the transaction close, Cyxtera will have an undrawn $150 million revolving credit facility. Moody's forecast capital spending will be about 10% of revenue, leading to meaningful free cash flow that can be used to pay down debt. The ratings for debt instruments reflect both the probability of default of Cyxtera, to which Moody's assigns a PDR of B1-PD, and individual loss given default assessments. The senior secured first lien credit facilities are rated Ba3 (LGD3), one notch higher than the CFR, given the loss absorption provided by the B3 (LGD5) rated 2nd lien facilities. The stable outlook reflects Moody's view that Cyxtera will grow revenue and EBITDA such that leverage (Moody's adjusted) will remain below 5.5x. The B1 rating could upgraded if leverage was on track to approach 4x (Moody's adjusted) and free cash flow was positive, both on a sustainable basis. The rating could be downgraded if liquidity deteriorates or if leverage is sustained above 5.5x (Moody's adjusted). The principal methodology used in these ratings was Global Communications Infrastructure Rating Methodology published in June 2011. Cyxtera is the spinoff of CenturyLink's data centers and colocation business. Cyxtera consists of 57 data centers across 3 continents and serves over 2,200 colocation customers diversified across industries. COMM 2014-UBS3: DBRS Confirms B(sf) Rating on Class G Debt ---------------------------------------------------------- DBRS, Inc. confirmed the ratings on the following classes of Commercial Mortgage Pass-Through Certificates, Series 2014-UBS3 (the Certificates), issued by COMM 2014-UBS3 Mortgage Trust, as follows: -- Class A-1 at AAA (sf) -- Class A-2 at AAA (sf) -- Class A-SB at AAA (sf) -- Class A-3 at AAA (sf) -- Class A-4 at AAA (sf) -- Class A-M at AAA (sf) -- Class X-A at AAA (sf) -- Class X-B at AAA (sf) -- Class X-C at AAA (sf) -- Class X-D at AAA (sf) -- Class B at AA (sf) -- Class PEZ at A (sf) -- Class C at A (sf) -- Class D at BBB (low) (sf) -- Class E at BB (high) (sf) -- Class F at BB (sf) -- Class G at B (sf) All trends are Stable. DBRS does not rate the first loss piece, Class H. The Class PEZ certificates are exchangeable for the Class A-M, Class B and Class C certificates (and vice versa). The rating confirmations reflect the overall performance of the transaction, which remains in line with DBRS expectations at issuance. At issuance, the pool consisted of 49 fixed-rate loans secured by 81 commercial properties. As of the February 2017 remittance, all 49 loans remain in the pool with an aggregate outstanding principal balance of $1.04 billion, representing a collateral reduction of 1.3% since issuance as a result of scheduled loan amortization. As of the most recent year-end reporting, the pool reported a weighted-average (WA) debt service coverage ratio (DSCR) of 1.60 times (x) and WA debt yield of 9.5%, an improvement over the WA DBRS term DSCR and DBRS debt yield at issuance of 1.47x and 8.6%, respectively. The pool is concentrated by loan size, as the largest loan represents 10.1% of the pool, while the largest ten loans represent 62.2% of the pool. Four loans (26.4% of the pool) are structured with full interest-only (IO) terms, while an additional nine loans (33.0% of the pool) have partial IO periods remaining; of those, six loans (20.3% of the pool) are scheduled to convert from IO to principal and interest debt service payments within the next three months. One loan representing 0.5% of the pool balance has fully defeased. Loans representing 80.3% of the pool are reporting partial-year 2016 net cash flow (NCF) figures, while loans representing 16.4% of the pool have reported full-year 2016 figures. Based on the most recent cash flow reporting, the Top 15 loans reported a WA DSCR of 1.62x, reflective of a WA NCF growth of 9.25% over the DBRS cash flows for those loans at issuance. As of the February 2017 remittance report, there are two loans in special servicing, representing 1.8% of the pool balance, as well as five loans on the servicer's watchlist, representing 7.6% of the pool balance, including two in the Top 15. The larger of the specially serviced loans is in foreclosure, with the special servicer noting that resolution could be delayed, as the borrower is contesting the foreclosure. Based on the most recent appraised value for the collateral securing the loan, DBRS anticipates a loss will be incurred at resolution but currently expects that loss to be contained to the unrated Class H bond. The smaller specially serviced loan recently transferred for delinquency, with a workout strategy to be determined according to the special servicer. DOLPHIN DIGITAL: CEO O'Dowd Has 22.6% Equity Stake as of Dec. 29 ---------------------------------------------------------------- In an amended Schedule 13D filed with the Securities and Exchange Commission, William O'Dowd disclosed that as of Dec. 29, 2016, he beneficially owns 3,251,686 shares of common stock of Dolphin Digital, or 22.6% of the Common Stock of the Company based upon 14,395,521 shares of Common Stock outstanding as of Feb. 14, 2017. Mr. O'Dowd is the president, chairman and chief executive officer of Dolphin Digital, the founder, president and sole shareholder of Dolphin Entertainment and the sole member of DDM Holdings. He directly owns 953,900 shares of Common Stock. In addition, (i) as the sole shareholder of Dolphin Entertainment he is deemed to beneficially own 1,055,682 sharesof Common Stock beneficially owned by Dolphin Entertainment and (ii) as the sole member of DDM Holdings, he is deemed to beneficially own 1,242,104 shares of Common Stock beneficially owned by DDM Holdings. Dolphin Entertainment Inc. has beneficial ownership of 1,055,682 shares of Common Stock, or 7.3% of the Common Stock of the Issuer. Dolphin Entertainment has sole voting and sole dispositive power with respect to all the shares of Common Stock and shared voting and shared dispositive power with respect to 0 shares of Common Stock it beneficially owns. Dolphin Digital Media Holdings, LLC has beneficial ownership of 1,242,104 shares of Common Stock, or 8.6% of the Common Stock of the Issuer. DDM Holdings has sole voting and sole dispositive power with respect to all the shares of Common Stock and shared voting and shared dispositive power with respect to 0 shares of Common Stock it beneficially owns. A full-text copy of the regulatory filing is available at: https://is.gd/ZWSXhI About Dolphin Digital Coral Gables, Florida-based Dolphin Digital Media, Inc., is dedicated to the twin causes of online safety for children and high quality digital entertainment. By creating and managing child-friendly social networking websites utilizing state-of the- art fingerprint identification technology, Dolphin Digital Media, Inc. has taken an industry-leading position with respect to internet safety, as well as digital entertainment. Dolphin Digital reported a net loss of $4.05 million on $2.99 million of total revenue for the year ended Dec. 31, 2015, compared to a net loss of $1.87 million on $2.07 million of total revenue for the year ended Dec. 31, 2014. As of Sept. 30, 2016, Dolphin Digital had $22.68 million in total assets, $39.61 million in total liabilities and a total stockholders' deficit of $16.92 million. BDO USA, LLP, in Miami, Florida, issued a "going concern" qualification on the consolidated financial statements for the year ended Dec. 31, 2015, citing that the Company has suffered recurring losses from operations, negative cash flows from operations, and does not have sufficient working capital. These events raise substantial doubt about the Company's ability to continue as a going concern. EASTERN OUTFITTERS: Russell R. Johnson III Representing Utilities ----------------------------------------------------------------- Russell R. Johnson III, Esq., of the Law Firm of Russell R. Johnson III, PLC, filed with the U.S. Bankruptcy Court for the District of Delaware on Feb. 24, 2017, a verified statement pursuant to Rule 2019 of the Federal Rules of Bankruptcy Procedure, disclosing his multiple representations of utility companies in the Chapter 11 case of Eastern Outfitters, LLC, et al. These Utilities provided prepetition utility goods and services to the Debtors, and continue to provide postpetition utility goods and services to the Debtors: a. Baltimore Gas and Electric Company PECO Energy Company Attn: Merrick Friel Exelon Corporation 2301 Market Street, S23-1 Philadelphia, PA 19103 b. New York State Electric and Gas Corporation Attn: Kelly Potter James A. Carrigg Center Bankruptcy Department 18 Link Drive Binghamton, NY 13904 c. The Connecticut Light and Power Company dba Eversource Energy Public Service Company of New Hampshire Yankee Gas Services Company Attn: Honor S. Heath, Esq. Eversource Energy 107 Selden Street Berlin, CT 06037 d. Public Service Electric and Gas Company Attn: Suzanne Klar, Esq. 80 Park Plaza, T5D Newark, NJ 07102-0570 e. Rochester Gas and Electric Corporation Attn: Patricia Cotton 89 East Avenue Rochester, NY 14649 f. Boston Gas Company Colonial Gas Company KeySpan Gas East Corporation Massachusetts Electric Company Narragansett Electric Company Niagara Mohawk Power Corporation Attn: Christopher S. Aronson Senior Counsel National Grid 40 Sylvan Road Waltham, MA 20451 g. Jersey Central Power & Light Company Attn: Kathy M. Hofacre FirstEnergy Corp. 76 S. Main Street, A-GO-l5 Akron, OH 44308 The nature and the amount of claims (interests) of the Utilities, and the times of acquisition thereof are: (a) Baltimore Gas and Electric Company, The Connecticut Light and Power Company, New York State Electric and Gas Corporation, PECO Energy Company, Public Service Company of New Hampshire, Public Service Electric and Gas Company, Rochester Gas & Electric Corporation, Yankee Gas Services Company, Boston Gas Company, Colonial Gas Company, KeySpan Gas East Corporation, Massachusetts Electric Company, Narragansett Electric Company and Jersey Central Power & Light Company have unsecured claims against the Debtors arising from prepetition utility usage; and (b) Niagara Mohawk Power Corporation held prepetition deposits which secured all prepetition debt. The Firm was retained to represent the foregoing Utilities in February 2017. The circumstances and terms and conditions of employment of the Firm by the Utilities is protected by the attorney-client privilege and attorney work product doctrine. The Firm can be reached at: Russell R. Johnson III, Esq., Law Firm of Russell R. Johnson III, PLC 2258 Wheatland Drive Manakin-Sabot, Virginia 23103-2168 About Eastern Outfitters Headquartered in Meriden, Connecticut, Eastern Outfitters, LLC, is the holding company of outdoor sports apparel and equipment retailers Bob's Stores and Eastern Mountain Sports. Eastern Outfitters, LLC, aka Subortis Retail Group, LLC, along with affiliates, filed for Chapter 11 bankruptcy protection (Bankr. D. Del. Lead Case No. 17-10243) on Feb. 5, 2017. The petitions were signed by Mark Walsh, chief executive officer. Judge Laurie Selber Silverstein presides over the cases. Eastern Outfitters, Subortis IP Holdings, and Eastern Mountain Sports each estimated its assets and liabilities at between $100 million and $500 million each. Robert G Burns, Esq., Jennifer Feldsher, Esq., and David M Riley, Esq., and Mark E. Dendinger, Esq., at Bracewell LLP serve as the Debtors' restructuring counsel. Norman L. Pernick, Esq., Marion M Quirk, Esq., and Katharina Earle, Esq., at Cole Schotz P.C. serve as the Debtors' Delaware counsel. Alixpartners, LLP, is the Debtors' turnaround advisor. Lincoln Partners Advisors LLC is the Debtors' financial advisor. Kurtzman Carson Consultants is the Debtors' claims and noticing agent. EMAS CHIYODA: Case Summary & 30 Largest Unsecured Creditors ----------------------------------------------------------- Debtor affiliates filing separate Chapter 11 bankruptcy petitions: Debtor Case No. ------ -------- EMAS CHIYODA Subsea Limited 17-31146 2 Snowhill Birmingham 846WR United Kingdom EMAS Chiyoda Subsea Inc. 17-31139 EMAS-AMC Pte. Ltd. 17-31141 EMAS Chiyoda Subsea Services Pte. Ltd. 17-31142 Lewek Falcon Shipping Pte. Ltd. 17-31143 Lewek Constellation Pte. Ltd. 17-31144 EMAS CHIYODA ROV Pte. Ltd. 17-31145 EMAS CHIYODA Subsea Marine Base LLC 17-31147 EMAS CHIYODA Marine Base Holding Co., LLC 17-31149 Gallatin Marine Management, LLC 17-31150 EMAS CHIYODA Subsea Services LLC 17-31151 EMAS CHIYODA Subsea Services (UK) Limited 17-31152 EMAS CHIYODA Subsea Services B.V. 17-31153 EMAS Saudi Arabia Ltd. 17-31154 EMAS CHIYODA Subsea (Thailand) Co., Ltd. 17-31155 Type of Business: The Company is an international heavy lift subsea, offshore and onshore contractor offering engineering, procurement, construction, transportation, installation, and commissioning services at every stage of the project lifecycle to deliver complex construction projects for customers. Chapter 11 Petition Date: February 27, 2017 Court: United States Bankruptcy Court Southern District of Texas (Houston) Judge: Hon. Marvin Isgur Debtors' Counsel: George N. Panagakis, Esq. Justin M. Winerman, Esq. Roy Leaf, Esq. SKADDEN, ARPS, SLATE, MEAGHER & FLOM LLP 155 N. Wacker Dr. Chicago, Illinois 60606-1720 Tel: (312) 407-0700 Fax: (312) 407-0411 E-mail: george.panagakis@skadden.com justin.winerman@skadden.com roy.leaf@skadden.com - and - Dominic McCahill, Esq. Kathlene Burke, Esq. SKADDEN, ARPS, SLATE, MEAGHER & FLOM (UK) LLP 40 Bank Street Canary Wharf London, E14 5DS Tel: 44-20-7519-7000 Fax: 44-20-7516-7070 E-mail: dominic.mccahill@skadden.com kathlene.burke@skadden.com Debtors' Co-Counsel: John F. Higgins, Esq. Joshua W. Wolfshohl, Esq. Aaron J. Power, Esq. Brandon J. Tittle, Esq. Eric M. English, Esq. PORTER HEDGES LLP 1000 Main Street, 36th Floor Houston, Texas 77002 Tel: (713) 226-6000 Fax: (713) 228-1331 E-mail: jhiggins@porterhedges.com jwolfshohl@porterhedges.com apower@porterhedges.com btittle@porterhedges.com eenglish@porterhedges.com Debtors' KPMG SERVICES PTE. LTD. Managerial Services Provider: Debtors' Claims and Noticing Agent: EPIQ BANKRUPTCY SOLUTIONS, LLC Estimated Assets: $500 million to $1 billion Estimated Liabilities: $100 million to $500 million The petitions were signed by Teraoka Takahiro, director. Debtor's List of 30 Largest Unsecured Creditors: Entity Nature of Claim Claim Amount ------ --------------- ------------ DBS Bank Working Capital $40,000,000 12 Marina Boulevard, Level 3 Loan Marina Bay Financial Centre Tower 3 Singapore, 018982 Singapore Tel: +65 6878 2024 Fax: 64451267 Email: pat.chiam@dbs.com DBS Bank Working Capital $30,000,000 12 Marina Boulevard, Level 3 Loan Marina Bay Financial Centre, Tower 3 Singapore, 018982 Singapore Tel: +65 6878 2024 Fax: 64451267 Email: pat.chiam@dbs.com DBS Bank Limited Bank Guaranty $14,636,231 12 Marina Boulevard #46-04 Claims DBS Asia Central@MBFC Tower 3 Singapore, 018982 Singapore Tel: 6878 2024 Fax: 64451267 Email: patchiam@dbs.com DNB Bank ASA, Singapore Branch Bank Guarantee $14,636,231 8 Shenton Way, Temasek Tower Claims Singapore, 068811 Singapore Tel: 6212 0710 Fax: 65 6225 7007 Email: ian.thia@dnbnor.no Overseas-Chinese Banking Bank Guarantee $13,118,982 Corporation Ltd. Claims 63 Chulia Street #06-00 OCBC Centre East Singapore, 049514 Singapore Tel: 65 9694 1264, 65 6318 7222 Fax: 65 6534 3986 Email: saswiral@ocbc.com Internal Revenue Service Center Tax Claim $8,591,376 1111 Constitution Avenue NW Washington, DC 20224 Tel: 202-283-1710 London Marine Consultants Ltd. Trade $8,322,894 Pinnacle House 23-26 St Dunstan's Hill London EC3R 8HN United Kingdom Tel: 44 0 20 7621 0050 Fax: 44 0 20 7220 7730 Email: lmc@londonmarine.co.uk Coastal Trade Limited Trade/Non-Trade $7,613,516 3 Cromwell Place London, SW7 2JE England Bibby Offshore Limited Trade $6,074,057 Atmosphere One Prospect Road, Westhill Aberdeen, AB32 6FJ Scotland Tel: 44 0 1224 857755 Fax: 44 0 1224 284444 Email: info@bibbyoffshore.com Standard Chartered Bank Bank Guarantee $5,626,880 8 Marina Boulevard #27-01 Claims Marina Bay Financial Centre, Tower 1 Singapore, 018982 Singapore Tel: 65 6596 7064 Fax: 66348119 Email: vivien.lhlow@sc.com Serimax North America, LLC Trade $4,451,357 11315 West Little York Rd. Bldg 3 Houston, Texas 77041 Tel: +350 20051777/8, 832-230-2700 Fax: +350 20051779 Email: operations@gacgibraltar.com Tigermar Global Pte Limited Trade/No-Trade $3,185,595 8 Marina View, Asia Square Tower 1 #07-04 Singapore, SG Tel: 6744 7055, 65 6715 8760 Fax: 6744 7066, 65 6532 0194 Email: info@tigermar.com Keppel Shipyard Limited Trade $2,764,580 51 Pioneer Sector 1 Singapore, 628437 Singapore Tel: 47-403095350, 65-6861-4141 Fax: 65-6861-7767 Email: brokers@f3offshore.com, ks@keppelshipyard.com Canyon Offshore, Inc. Trade $2,761,372 400 N. Sam Houston Pkwy East Suite 400 Houston, Texas 77060 US Tel: 281-618-0400 Fax: 281-618-0500 Rana Diving S.P.A. Trade $2,439,336 Via Del Trabaaccolo 16-48122 Ravenna Italy Tel: 39 0544 530742 Fax: 39 0544 531015 Email: account@benline.com.sg, rana@ranadiving.it Kuiper International Pte Ltd. Trade $2,353,435 14 Robinson Road #07-10 Far East Finance Building Singapore, SGP Tel: 65 6224 4510 Fax: 65 6224 4511 Email: info@ki.sg Chengxi Shipyard (Guangzhou) Trade $2,187,728 Co. Ltd. No. 10 Qihang Road, Longxue Street, Nansha Guangzhou, China Tel: 86 510 8166 8160 Email: jasentchow@chengxi.com Crowley Marine Services Inc. Trade $1,886,707 15894 Diplomatic Plaza DR Houston, Texas 77032 US Tel: 832-850-4100 Fax: 832-850-4141 Technip Far East SDN BHD Trade $1,837,396 Wisma Technip, No 241, 2nd Floor, Jalan Tun Razak, Wilayah Persekutuan 50400 Kuala Lumpur Malaysia Tel: 603 2116 7888 Fax: + 603 2116 7999 BAE System Australia Ltd. Trade $1,804,987 Edinburgh Parks Taranaki Road Edinburgh SA 5111 Tel: 61 8 8480 8888 Email: auswebinfo@baesystem.com.au Gulfmark Americas Inc. Trade $1,691,280 842 W Sam Houston PKWY North Suite 400 Houston, TX 77024 Tel: 713-369-7300 IHC SAS BV Trade $1,319,273 Bedrijfsweg 23 2404 CB Alphen AAN Den RIJN Tel: +31 88 015 61 00 Email: info.sas@royalihc.com Huisman Equipment BV Trade $1,230,924 Admiraal Trompstraat 2, 3115 HH PO Box 150 3100 AS Schiedam Harbour No. 561 The Netherlands Tel: 832-487-7300, 33 88 070 2222 Email: etta.chatterjee@emaschiyoda.com ap@hisman-nl.com Worleyparsons PTE Limited Trade $1,089,200 111 Somerset Road, #12-05 Tripleone Somerset, Singapore 238164 Tel: +65 6735 8444 Fax: +65 6735 7444 Horizon Survery Company (FZC) Trade $1,021,183 P.O. Box 68785, SAIF Zone, Sharjah Tel: + 971 6 557 3045 Fax: + 971 6 557 3047 James Fisher Subsea Excavation Trade $978,374 PTE. Limited Paya Lebar Square #08-07, 60 Paya Lebar Road Singapore, 409051 Singapore Tel: 65-6225-1163 65 6887 3613 Fax: 65-6225-4945 Email: weitung.lim@jitsun.com SAL Heavy Lift GMBH Trade $953,505 Brooktorkai 20 20457 Hamburg Germany Tel: 6467 3923/6468 8776 49 40 380380-0 Fax: 6469 6330, 49 40 380380-600 Email: Elinkspare@yahoo.com H.J. Stauble Limited Trade $949,123 3-5 Maharaj Avenue By-Pass San Fernando Trinidad and Tobago, WI Tel: 868-653-1870 Fax: 868-657-2810 Email: stauble@tstt.net.tt Shin Yang Shipping Co., Ltd. Trade $936,845 88-1 Songjong-dong Tonghae-shi Tonghae-SHI Gangwon, South Korea Tel: +234 808 313 1138 033-522-3422 Fax: 033-522-2907 Email: info@gulfships.net C&C Technologies Inc. Trade $911,742 730 East Kaliste Saloom Road Lafayette, LA 70508 Tel: 337-210-0000 Fax: 337-210-0003 EMAS CHIYODA: Will Implement Revised Business Plan Thru Chapter 11 ------------------------------------------------------------------ Having insufficient cash to meet its day-to-day operating needs, EMAS CHIYODA Subsea Limited, together with 14 affiliated companies, has filed a voluntary petition under Chapter 11 of the Bankruptcy Code blaming deteriorating market conditions and intense competition in the deep-sea construction business for its financial troubles. EMAS Chiyoda Subsea (ECS) is a joint-venture run by the SGX-listed Ezra Holdings (40 percent) and the Japanese listed firms Chiyoda Corporation (35 percent) and NYK (25 percent), according to CNBC. According to the bankruptcy filing, the Company's revenue and cash flows have come under significant strain due to, among other things, falling demand for its services as a result of the depressed market conditions in the offshore and subsea construction market it serves; significant vessel operating costs; and a tightening of credit conditions, which ultimately led to its banks freezing various credit lines. "As a result of the global slowdown in the oil and gas industry, there has been low growth and limited new deep water exploration and production leading to low vessel utilization, which has had a negative impact on the Company's financial situation," said Stephen H. McGuire, the Company's general counsel. "Moreover, the deepsea offshore markets in which the Company operates are highly competitive." With U.S. headquarters in Houston, Texas, the Company provides services for subsea inspection, maintenance and repair, well intervention, drilling, and decommission work primarily to the oil and gas sector. Its domestic and foreign Debtor and non-Debtor subsidiaries operate throughout the world, including in the United States, Singapore, Norway, Saudi Arabia, Australia, the Netherlands, Scotland, Thailand, and Africa. As of the Petition Date, the Company's funded debt consists of approximately $480 million of secured debt and approximately $175 million of unsecured debt. In addition, the Company estimates contingent debt under Bank Guarantees of approximately $58 million, more than $150 million of remaining lease amounts under certain charters (not including those owed by non-Debtor affiliates), and $103 million in trade debt as of the Petition Date. Mr. McGuire related that the Company has taken numerous actions to mitigate the effects of the decline in activity levels, especially given the substantial fixed cost pressure. In particular, management has made steady efforts to reduce operating costs, including the vessel operating costs, by, among other things, attempting to renegotiate vessel repayments, reducing fixed costs, and reducing variable costs via staff reductions and relocations. However, Mr. McGuire maintained, these cost saving maneuvers have had mixed success. As a result of the deteriorating market conditions in the oil and gas sector coupled with the Company's financial difficulties, the Company's lenders have frozen borrowing availability under the Company's prepetition facilities, limiting the cash available to meet its operating needs. This led to the Company and its financial advisors developing a revised business plan. The Business Plan, which showed a need for substantial additional funding, was shown to the Company's shareholders, along with a request for additional funding to support the Business Plan. Subsea 7 S.A. and equityholder Chiyoda Corporation have agreed to provide up to $90 million debtor-in-possession financing necessary for the Debtors to operate their businesses, preserve value, and pursue their restructuring goals, subject to the Court's approval. To minimize the adverse effects of filing for Chapter 11 on their business and their international operations, the Debtors have filed motions and pleadings seeking various types of "first day" relief including, among other things, authority to pay employee obligations and authority to prohibit utility companies from discontinuing services. The Debtors' cases have been assigned to U.S. Bankruptcy Judge Marvin Isgur. The Debtors are seeking to have their cases jointly administered for procedural purposes under the main case docket of EMAS CHIYODA Subsea Limited Case No. 17-31146. Skadden, Arps, Slate, Meagher & Flom LLP serves as counsel to the Debtors. Porter Hedges LLP serves as the Debtors' co-counsel. KPMG Services Pte. Ltd. provides managerial services to the Debtors. Epiq Bankruptcy Solutions, LLC, acts as the Debtors' claims and noticing agent. ENERGY FUTURE: Asks Court OK of Makewhole Claims Settlement ----------------------------------------------------------- Energy Future Holdings Corp and its debtor-affiliates ask the U.S. Bankruptcy Court for the District of Delaware to consider approval of a settlement with 67.5% of the holders of general unsecured claims against the EFIH Debtors, holders of EFIH first lien note claims and holders of EFIH second lien note claims that would resolve the Makewhole litigation. The Debtors recount that on Nov. 17, 2016, just weeks before the hearing to consider confirmation of the as-then-drafted plan of reorganization (the "Prior Plan") with respect to the EFH/EFIH Debtors, the U.S. Court of Appeals for the Third Circuit issued an opinion (the "Makewhole Opinion") reversing the Bankruptcy Court's order disallowing the EFIH First Lien Makewhole Claims and the EFIH Second Lien Makewhole Claims. The Makewhole Opinion rendered the Makewhole Claims neither Disallowed Makewhole Claims nor Allowed Makewhole Claims, meaning that the EFH/EFIH Debtors could no longer satisfy a condition precedent to the Prior Plan. The EFH/EFIH Debtors engaged in negotiations with key creditor groups at EFIH to attempt to negotiate a consensual path forward and, ultimately, developed and filed a plan of reorganization (the "Seventh Amended Plan") that reflected a settlement reached wtih the Supporting EFIH Unsecured Creditors to continue to pursue the Makewhole Litigation and, in the meantime, escrow funds on account of disputed claims asserted by the EFIH Secured Trustees and Holders of EFIH First Lien Notes Claims and EFIH Second Lien Notes Claims. ON the eve of the hearing to consider confirmation of the Seventh Amended Plan, the EFH/EFIH Debtors, the Supporting SEcured Creditors, and the Supporting EFIH Unsecured Creditors reached an agreement in principle to settle the Makewhole Claims, which is reflected on the Eight Amended Plan. In addition to the nearly $1 billion in Makewhole Claims and interest that could become allowed as a result of the Makewhole Litigation, the Debtors faced mounting legal fees and other expenses. THE EFIH Settlement provides for the payment of less than 100 percent of the Makewhole Claims and cuts off the run-rate interest and litigation costs. The EFIH settlement provides, among other things: a) EFIH First Lien Claims: The Debtors will pay (a) 95% of (i) the Makewhole Claims in respect of the EFIH first lien notes, and (ii) the interest, at the contract rate, on the EFIH first lien Makewhole Claims accrued as of the date of repayment; (b) pursuant to Section 506(b) of the Bankruptcy Code, 100% of the documented fees, expenses, and indemnification claim, if any, incurred by the EFIH first lien notes trustee and supporting EFIH first lien creditors; and (c) 100% of any additional accrued and unpaid interest, again at the contract rate. b) EFIH Second Lien Claims: The Debtors will pay (a) 87.5% of (i) the Makewhole Claims in respect of the EFIH second lien notes, and (ii) the interest, at the contract rate, on the EFIH second lien Makewhole Claims accrued as of the date of repayment; (b) pursuant to Section 506(b) of the Bankruptcy Code, 100% of the documented fees, expenses, and indemnification claim, if any, incurred by the EFIH first lien notes trustee and supporting EFIH second lien creditors; and (c) 100% of any additional accrued and unpaid interest, again at the contract rate. c) Temporary Stay and Ultimate Termination of Makewhole Litigation: The Debtors say they will seek a temporary stay of litigation regarding the Makewhole claims and, upon entry of the order, file a notice or pleading withdrawing the request for rehearing currently pending with the Third Circuit, upon remand to the Bankruptcy Court, the Debtors and the EFIH secured trustees will enter a stipulation of dismissal of the Makewhole litigation with prejudice. d) Vote to Accept the Plan. The Supporting Secured Creditors will be deemed by entry of the EFH confirmation order have changed any vote to reject the plan to a vote to accept the plan. Objections to the Debtors' motion, if any, must be in writing and filed on or before March 21, 2017, at 4:00 p.m. (ET) with U.S. Bankruptcy Court for the District of Delaware, 824 North Market Street, 3rd Floor, Wilmington, Delaware. A hearing on the objection will be held before the Hon. Christopher S. Sontchi on March 28, 2017, at 10:00 a.m. (ET). A copy of the motion, the proposed order granting the Motion, and the EFIH settlement may be obtained at http://dm.epiq11.com/content/EFIHsettlement.pdf or by calling the Debtors' restructuring hotline at (877) 276-7311. Further information regarding the Debtors' motion or EFIH settlement, contact (844) 415-6962 or e-mail efhcorrespondence@kirkland.com. About Energy Future Energy Future Holdings Corp., formerly known as TXU Corp., is a privately held diversified energy holding company with a Portfolio of competitive and regulated energy businesses in Texas. Oncor, an 80 percent-owned entity within the EFH group, is the largest regulated transmission and distribution utility in Texas. The Company delivers electricity to roughly three million delivery points in and around Dallas-Fort Worth. EFH Corp. was created in October 2007 in a $45 billion leverage buyout of Texas power company TXU in a deal led by private-equity companies Kohlberg Kravis Roberts & Co. and TPG Inc. On April 29, 2014, Energy Future Holdings and 70 affiliated companies sought Chapter 11 bankruptcy protection (Bankr. D. Del. Lead Case No. 14-10979) after reaching a deal with some key financial stakeholders to keep its businesses operating while reducing its roughly $40 billion in debt. The Debtors' cases have been assigned to Judge Christopher S. Sontchi (CSS). As of Dec. 31, 2013, EFH Corp. reported assets of $36.4 billion in book value and liabilities of $49.7 billion. The Debtors have $42 billion of funded indebtedness. EFH's legal advisor for the Chapter 11 proceedings is Kirkland & Ellis LLP, its financial advisor is Evercore Partners and its restructuring advisor is Alvarez & Marsal. The TCEH first lien lenders supporting the restructuring agreement are represented by Paul, Weiss, Rifkind, Wharton & Garrison, LLP as legal advisor, and Millstein & Co., LLC, as financial advisor. The EFIH unsecured creditors supporting the restructuring agreement are represented by Akin Gump Strauss Hauer & Feld LLP, as legal advisor, and Centerview Partners, as financial advisor. The EFH equity holders supporting the restructuring agreement are represented by Wachtell, Lipton, Rosen & Katz, as legal advisor, and Blackstone Advisory Partners LP, as financial advisor. Epiq Systems is the claims agent. Wilmington Savings Fund Society, FSB, the successor trustee for the second-lien noteholders owed about $1.6 billion, is represented by Ashby & Geddes, P.A.'s William P. Bowden, Esq., and Gregory A. Taylor, Esq., and Brown Rudnick LLP's Edward S. Weisfelner, Esq., Jeffrey L. Jonas, Esq., Andrew P. Strehle, Esq., Jeremy B. Coffey, Esq., and Howard L. Siegel, Esq. An Official Committee of Unsecured Creditors has been appointed in the case. The Committee represents the interests of the unsecured creditors of only Energy Future Competitive Holdings Company LLC; EFCH's direct subsidiary, Texas Competitive Electric Holdings Company LLC; and EFH Corporate Services Company, and of no other debtors. The Committee has selected Morrison & Foerster LLP and Polsinelli PC for representation in this high-profile energy restructuring. The lawyers working on the case are James M. Peck, Esq., Brett H. Miller, Esq., and Lorenzo Marinuzzi, Esq., at Morrison & Foerster LLP; and Christopher A. Ward, Esq., Justin K. Edelson, Esq., Shanti M. Katona, Esq., and Edward Fox, Esq., at Polsinelli PC. * * * In December 2015, the Bankruptcy Court confirmed the Debtors' reorganization plan, which contemplated a tax-free spin of the company's competitive businesses, including Luminant and TXU Energy, and the $20 billion sale of its holdings in non-debtor electricity transaction unit Oncor Electric Delivery Co. to a consortium of investors. But the Plan became null and void after certain first lien creditors notified the occurrence of a "plan support termination event." The Debtors filed a new plan of reorganization on May 1, 2016, as subsequently amended. The new Chapter 11 plan features alternative options for dealing with the Company's stake in electricity transmission unit Oncor. On Aug. 29, 2016, Judge Sontchi confirmed the Chapter 11 exit plans of two of Energy Future Holdings Corp.'s subsidiaries, power generator Luminant and retail electricity provider TXU Energy Inc. (the "T-Side Debtors"). The Plan became effective on Oct. 3, 2016. On Sept. 21, 2016, the Debtors filed the E-Side Plan and the Disclosure Statement for the Fourth Amended Joint Plan of Reorganization of Energy Future Holdings Corp., et al., Pursuant to Chapter 11 of the Bankruptcy Code as it Applies to the EFH Debtors and EFIH Debtors. ERIE ACQUISITION: Moody's Lowers CFR to B3 on Weak Sales -------------------------------------------------------- Moody's Investors Service downgraded Erie Acquisition Holdings, Inc.'s Corporate Family Rating (CFR) to B3 from B2 and its Probability of Default Rating (PDR) to B3-PD from B2-PD. Moody's also downgraded GCA's senior secured first lien credit facility ratings (including term loan and revolver) to B2 from B1 and its second lien senior secured term loan to Caa2 from Caa1. The rating outlook is stable. The downgrade of GCA's CFR reflects weaker-than-expected sales and profitability since the 2016 leveraged buyout (LBO), as well as Moody's view that GCA's financial risk profile will remain elevated over the next 12-18 months. GCA's underperformance is being driven by slower than expected growth in its Education segment, which in the past has provided for solid growth prospects with highly reliable and stable revenue and cash flow stream. Moody's has tapered its revenue and earnings growth expectation for the Education segment due to continuing pricing pressure relating to service renewals and new contracts, which have dampened the company's already weak margins. The modest revenue growth in the Education segment was not sufficient to offset the negative operating trend in GCA's Commercial segment, which remains depressed due customer losses and lower volumes with large commercial clients. Since its 2016 LBO, GCA's debt-to-EBITDA (Moody's adjusted and reflecting a full year of new contracts signed) has not improved as previously expected, and remained around 7.0 times (estimated at December 31, 2016), which is no longer supportive of a B2 rating. While industry fundamentals for outsourcing janitorial related services remain sound, Moody's is concerned about GCA's prospects for deleveraging in the near term given expectations for low-single-digit revenue and earnings growth and modest free cash flow generation. GCA's free cash flow is materially lower than previously anticipated and will delay the company's progress in repaying debt. As such, Moody's expects that over the next 12-18 months GCA's debt-to-EBITDA will remain in the high 6.0 times. Moody's tool the following rating actions on Erie Acquisition Holdings, Inc. -- Corporate Family Rating, downgraded to B3 from B2 -- Probability of Default Rating, downgraded to B3-PD from B2-PD -- $100 million senior secured revolving credit facility due 2021, downgraded to B2 (LGD3) from B1 (LGD3) -- $515 million ($507 million outstanding at December 31, 2016) senior secured first lien term loan due 2023, downgraded to B2 (LGD3) from B1 (LGD3) -- $160 million senior secured second lien term loan due 2024, downgraded to Caa2 (LGD5) from Caa1 (LGD5) -- Outlook, stable RATINGS RATIONALE GCA's B3 CFR reflects the company's high financial leverage following the March 2016 LBO by affiliates of Thomas H. Lee Partners L.P. and Goldman Sachs & Co, with estimated pro-forma debt-to-EBITDA at around 7.0 times (Moody's adjusted and reflecting full year of new contracts). The rating is also constrained by the company's modest revenue size and limited service offerings, low operating margin, and intensified competitive environment that will pressure topline growth and could further erode margin. However, the ratings derive benefit from the company's strong market position in the K-12 education market and favorable business fundamentals for outsourcing custodial and related services at a time when school districts as well as the company's commercial clients look to streamline costs. Moody's expects GCA to grow revenue and earnings in the low single digit range, with majority of growth derived from the Education segment where outsourcing of custodial and related services is relatively untapped. GCA's contracts averaging five years for Education customers and three years in the Commercial division, while renewal rates above 90% make revenue stable and predictable, providing further support for the rating. The rating is also supported by Moody's expectation that GCA will maintain good liquidity over the next 12-15 months. The stable rating outlook reflects Moody's expectation for low-single digit revenue and earnings growth and gradual deleveraging in the near term. Moody's also expects the company will generate positive free cash flow that will be used to repay moderate amount of debt and deleverage below 7.0 times over the next 12-18 months. The ratings could be downgraded if GCA experiences a significant deterioration in revenue growth due to price erosion, escalating customer costs or customer losses leading to diminished EBITDA. Negative free cash flow generation and reduced availability under the revolver could also result in a negative rating action. Given GCA's high financial leverage and Moody's expectation for only modest free cash flow generation, a ratings upgrade is not expected in the intermediate term. Profitable revenue growth that leads to a materials reduction in leverage and more robust free cash flow generation will be necessary for an upgrade. Quantitatively, the ratings could be upgraded if GCA sustains debt-to-EBITDA (Moody's adjusted) below 6.0 times and EBITA margin sustained above 8%. The principal methodology used in these ratings was Business and Consumer Service Industry published in October 2016. GCA provides custodial and related services to business and educational customers in the U.S. and Puerto Rico. Revenues for the twelve months ended December 31, 2016 was estimated at around $1 billion. GCA is majority-owned by affiliates of Thomas H. Lee Partners L.P. and Goldman, Sachs & Co. REGULATORY DISCLOSURES For ratings issued on a program, series or category/class of debt, this announcement provides certain regulatory disclosures in relation to each rating of a subsequently issued bond or note of the same series or category/class of debt or pursuant to a program for which the ratings are derived exclusively from existing ratings in accordance with Moody's rating practices. For ratings issued on a support provider, this announcement provides certain regulatory disclosures in relation to the rating action on the support provider and in relation to each particular rating action for securities that derive their credit ratings from the support provider's credit rating. For provisional ratings, this announcement provides certain regulatory disclosures in relation to the provisional rating assigned, and in relation to a definitive rating that may be assigned subsequent to the final issuance of the debt, in each case where the transaction structure and terms have not changed prior to the assignment of the definitive rating in a manner that would have affected the rating. For any affected securities or rated entities receiving direct credit support from the primary entity(ies) of this rating action, and whose ratings may change as a result of this rating action, the associated regulatory disclosures will be those of the guarantor entity. Exceptions to this approach exist for the following disclosures, if applicable to jurisdiction: Ancillary Services, Disclosure to rated entity, Disclosure from rated entity. EXPERIMENTAL MACHINE: Hires Clark Machinery as Sales Broker ----------------------------------------------------------- Experimental Machine, Inc., seeks authority from the U.S. Bankruptcy Court for the District of Maryland to employ Clark Machinery Sales, LLC, as sales broker to the Debtor. Experimental Machine requires Clark Machinery to market and sell the Debtor's asset known as Haas VF9/40, SN: 1089021. Clark Machinery will be paid at a commission of 10% of the sales price. Troy Clark, member of Clark Machinery Sales, 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. Clark Machinery can be reached at: Troy Clark CLARK MACHINERY SALES, LLC 11350 McCormick Ep 4 Road, Suite 702 Hunt Valley, MD 21031 Tel: (410) 252-5494 About Experimental Machine Experimental Machine, Inc., filed a chapter 11 petition (Bankr. D. Md. Case No. 16-25294) on Nov. 18, 2016. The Debtor tapped Michael S. Myers, Esq., at Scarlett, Croll & Myers, P.A., as counsel. FAMILY CHILD: Taps Maples Law Firm as Legal Counsel --------------------------------------------------- Family Child Care, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Alabama to hire legal counsel in connection with its Chapter 11 case. The Debtor proposes to hire Maples Law Firm, P.C. to give legal advice regarding its duties under the Bankruptcy Code, conduct examinations related to its case, prepare a bankruptcy plan, and provide other legal services. The hourly rates charged by the firm are: Partners $360 Associates $205 - $215 Paralegals $55 - $130 Stuart Maples, Esq., at Maples Law Firm, disclosed in a court filing that no member of his firm represents or holds any interest adverse to the Debtor's bankruptcy estate. The firm can be reached through: Stuart M. Maples, Esq. Maples Law Firm, PC 200 Clinton Ave. West, Suite 1000 Huntsville, AL 35801 Tel: (256) 489-9779 Fax: (256) 489-9720 Email: smaples@mapleslawfirmpc.com About Family Child Care Family Child Care, LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ala. Case No. 17-80334) on February 3, 2017. The petition was signed by Troy Ponder, owner. The case is assigned to Judge Clifton R. Jessup Jr. At the time of the filing, the Debtor estimated assets of less than $50,000 and liabilities of $1 million to $10 million. FUNCTION(X) INC: Reports Second Quarter Net Loss of $2.77 Million ----------------------------------------------------------------- Function(x) Inc. filed with the Securities and Exchange Commission its quarterly report on Form 10-Q disclosing 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 same period during the prior year. 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 six months ended Dec. 31, 2015. 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. At Dec. 31, 2016, and June 30, 2016, the Company had cash balances of approximately $122,000 and $537,000, respectively. As of Dec. 31, 2016, Function(x) had approximately $1,785,000 available under its lines of credit. "Our capital requirements to fund our operating segments are variable based on a few key factors. With respect to Wetpaint, the key factors among others include quality content creation, monthly unique visitors and our ability to procure advertising inventory to properly monetize our user base. With respect to Choose Digital, the key factors are our ability to launch new clients and the cost and our ability to purchase digital content at an attractive price. In respect to DDGG, the key factors are our ability to attract new business-to-business partners, the number of players and our ability to set the prize awards at appropriate levels to reduce overlay. These factors combine to determine our cash needs for calendar 2017. As we increase Wetpaint's number of monthly unique users and number of advertising partners, we would expect to generate increased revenue from the sale of digital media on the Wetpaint website and expect these sales to be a source of liquidity within such period for this operating segment. If we can increase Choose Digital's client base, we would expect to generate increased revenue from the provision of digital content to the clients. If we can increase DDGG's client base, we would expect to generate increased revenue from the provision of a white label fantasy sports gaming platform and would expect these sales to be a source of liquidity within such period for this operating segment. However, there is no guarantee that revenues will exceed business fixed and variable costs in calendar 2016 or ever. In respect to our operating costs, employee salaries, cost of content expenditures, leases of office space, and costs of cloud computing and hosting services constitute the majority of our monthly operating expenses. With the exception of leased office space, our operating costs across the operating segments are expected to increase as we add users and clients, work to create more content to entice users, and create new features and functionality on the Choose Digital and DDGG platforms. The overall level of expenses will be reflective of management's view of the current opportunities for the operating segments within their respective marketplaces and our strategic decisions. We utilize significant computing resources across our business to run and develop our website and platforms and purchase certain server hardware; however, we lease the majority of needed computing hardware, bandwidth, and co-location facilities. Accordingly, we can limit the cost of these servers to be in line with business growth. We plan to carefully manage our growth and costs to attempt to meet the goals of our business plan for such period." A full-text copy of the Form 10-Q is available for free at: https://is.gd/05g7B4 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. GATOR EQUIPMENT: Seeks to Hire Southeast Auction as Auctioneer -------------------------------------------------------------- An affiliate of Gator Equipment Rentals of Iberia, LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Louisiana to hire an auctioneer. Gator Equipment Rentals LLC proposes to hire Southeast Auction Company in connection with the sale of a 2008 Caterpillar TL943 Lift owned by the company. The firm will receive 5% of the gross proceeds from the sale of the equipment. Southeast Auction is a "disinterested person" as defined in section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached through: Southeast Auction Company 14433 Highway 69 South Tuscaloosa, AL 35405 Phone: (205) 758-3068 Fax: (205) 758-1071 About Gator Equipment Rentals of Iberia Gator Equipment Rentals of Iberia, LLC, Gator Equipment Rental of Fourchon, LLC, Gator Crane Services, LLC, and Gator Equipment Rentals, LLC, filed Chapter 11 petitions (Bankr. W.D. La. Lead Case Nos. 16-51667) on Dec. 5, 2016. Judge Robert Summerhays oversees the Debtors' cases. The Debtors are represented by Paul Douglas Stewart, Jr., Esq., Brandon A. Brown, Esq., and Ryan J. Richmond, Esq., at Stewart Robbins & Brown LLC. They also have employed BlackBriar Advisors, LLC to provide a chief restructuring officer; and Gordon Brothers Asset Advisors, LLC as equipment appraisers. Gator Equipment Rentals of Iberia and Gator Equipment Rentals of Fourchon each listed under $50,000 in assets and between $1 million and $10 million in liabilities. Gator Crane Service, and Gator Equipment Rentals listed between $1 million and $10 million in both assets and liabilities. GLYECO INC: Leonid Frenkel Owns 6.58% Equity Stake as of Dec. 31 ---------------------------------------------------------------- In an amended Schedule 13G filed with the Securities and Exchange Commission, Leonid Frenkel disclosed that as of Dec. 31, 2016, he beneficially owns 8,052,706 shares of common stock of Glyeco, Inc. representing 6.58 percent of the shares outstanding. Leonid Frenkel is the managing member of Triage Capital LF Group, LLC, a Delaware limited liability company that serves as the general partner and exercises investment discretion over the accounts of a number of investment vehicles. None of those investment vehicles has beneficial ownership of 5% or more of any class of the Common Stock. Mr. Frenkel and his affiliates own common shares, options and warrants of Glyeco. The options and warrants, if fully executed, exceed the number of common shares reported on this Schedule. However, the terms of such options and warrants do not permit Mr. Frenkel or his affiliates from converting all or any portion of the options and warrants into common shares if such conversion would result in beneficial ownership, after giving effect to the conversion, by Mr. Frenkel or his affiliates, of more than 9.99% of the outstanding shares of common stock of the Issuer. A full-text copy of the regulatory filing is available at: https://is.gd/nhVpVJ About GlyEco, Inc. Phoenix, Ariz.-based GlyEco, Inc., is a green chemistry company formed to roll-out its proprietary and patent pending glycol recycling technology that transforms waste glycols, a hazardous material, into profitable green products. GlyEco reported a net loss available to common shareholders of $12.5 million on $7.36 million of net sales for the year ended Dec. 31, 2015, compared to a net loss available to common shareholders of $8.73 million on $5.89 million of net sales for the year ended Dec. 31, 2014. As of Sept. 30, 2016, GyleCo had $5.73 million in total assets, $1.31 million in total liabilities and $4.42 million in total stockholders' equity. KMJ Corbin & Company LLP, in Costa Mesa, California, issued a "going concern" opinion in its report on the consolidated financial statements for the year ended Dec. 31, 2015, citing that the Company has had recurring losses from operations, has negative operating cash flows during the year ended Dec. 31, 2015, and has an accumulated deficit of $34,550,503 as of Dec. 31, 2015. These factors raise substantial doubt about the Company's ability to continue as a going concern. GREAT BASIN: Proposes to Sell $10 Million Worth of Units -------------------------------------------------------- Great Basin Scientific, Inc. filed a Form S-1 registration statement with the Securities and Exchange Commission relating to the offering of an undetermined number of Class A Units, each Class A Unit consisting of ___ share of its common stock, par value $0.0001 and ___ Series J Warrants, each whole Series J Warrant to purchase ____ share of its common stock, subject to adjustment. The proposed maximum aggregate offering price is $10,000,000. The Company's common stock is quoted on the OTCQB marketplace under the symbol "GBSN." On Feb. 8, 2017, the last reported bid price of the Company's common stock on the OTCQB was $0.0017 per share. There is no established trading market for the Offering Warrants and the Company does not expect an active trading market to develop. In addition, the Company does not intend to list the Offering Warrants on any securities exchange or other trading market. Without an active trading market, the liquidity of the Offering Warrants will be limited. The information in the prospectus is preliminary, not complete and may be changed. The Company may not sell these securities until the registration statement filed with the SEC is effective. A full-text copy of the preliminary prospectus is available at: https://is.gd/2qOsc9 About Great Basin Great Basin Scientific is a molecular diagnostic testing company focused on the development and commercialization of its patented, molecular diagnostic platform designed to test for infectious disease, especially hospital-acquired infections. The Company believes that small to medium sized hospital laboratories, those under 400 beds, are in need of simpler and more affordable molecular diagnostic testing methods. The Company markets a system that combines both affordability and ease-of-use, when compared to other commercially available molecular testing methods, which the Company believes will accelerate the adoption of molecular testing in small to medium sized hospitals. The Company's system includes an analyzer, which it provides for its customers' use without charge in the United States, and a diagnostic cartridge, which the Company sells to its customers. Great Basin reported a net loss of $57.9 million in 2015 following a net loss of $21.7 million in 2014. As of Sept. 30, 2016, Great Basin had $83.40 million in total assets, $144.9 million in total liabilities, and a total stockholders' deficit of $61.47 million. Mantyla McReynolds, LLC, in Salt Lake City, Utah, issued a "going concern" opinion in its report on the consolidated financial statements for the year ended Dec. 31, 2015, citing that the Company has incurred substantial losses from operations causing negative working capital and negative operating cash flows. These issues raise substantial doubt about its ability to continue as a going concern, the auditors said. GREATER LEWISTON: Taps Imblum Law Offices as Legal Counsel ---------------------------------------------------------- Greater Lewistown Shopping Plaza LP seeks approval from the U.S. Bankruptcy Court for the Middle District of Pennsylvania to hire legal counsel. The Debtor proposes to hire Imblum Law Offices, P.C. to give legal advice regarding its duties under the Bankruptcy Code, and provide other legal services related to its Chapter 11 case. The hourly rates charged by the firm are: Gary Imblum $295 Jeffrey Troutman $235 Carol Shay $135 Candy Hill $135 Bernadette Davis $135 Gary Imblum, Esq., disclosed in a court filing that the firm is a "disinterested person" as defined in section 101(14) of the Bankruptcy Code. The firm can be reached through: Gary J. Imblum, Esq. Imblum Law Offices, P.C. 4615 Derry Street Harrisburg, PA 17111 Phone: 717-238-5250 Fax: 717-558-8990 About Greater Lewistown Shopping Plaza Greater Lewistown Shopping Plaza LP sought protection under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Pa. Case No. 17-00693) on February 23, 2017. At the time of the filing, the Debtor estimated assets and liabilities of $10 million to $50 million. GREEN FUEL: U.S. Trustee Forms 2-Member Committee ------------------------------------------------- Ilene J. Lashinsky, U.S. Trustee for the District of Arizona, on Feb. 28 appointed two creditors to serve on the official committee of unsecured creditors in the Chapter 11 case of Green Fuel Technologies, LLC. The committee members are: (1) MITSUBISHI CEMENT CORP. Attn: Leandro F. Galaz 151 Cassia Way Henderson NV 89014 Tel: (702) 932-3941 Fax: (702) 932-3009 E-mail: lgalaz@mitsubishicement.com (2) BRUIN HOLDINGS LLC Attn: Carl Nablo 9196 E, Sands Drive Scottsdale AZ 85255 Tel: (480) 248-7577 E-mail: carl_nablo@hotmail.com Official creditors' committees have the right to employ legal and accounting professionals and financial advisors, at a debtor's expense. They may investigate the debtor's business and financial affairs. Importantly, official committees serve as fiduciaries to the general population of creditors they represent. About Green Fuel Technologies Green Fuel Technologies, based in Phoenix, Ariz., filed a Chapter 11 petition (Bankr. D. Ariz. Case No. 17-00594) on Jan. 20, 2017. The petition was signed by John Casey, managing member. The case is assigned to Judge Brenda Moody Whinery. At the time of the filing, the Debtor estimated $1 million to $10 million in both assets and liabilities. Pernell W. McGuire, Esq., at Davis Miles McGuire Gardner, PLLC, serves as bankruptcy counsel to the Debtor. GS MORTGAGE 2015-GC28: DBRS Confirms B Rating on Class F Debt ------------------------------------------------------------- DBRS Limited confirmed the ratings on the Commercial Mortgage Pass-Through Certificates, Series 2015-GC28 issued by GS Mortgage Securities Trust 2015-GC28 as follows: -- Class A-1 at AAA (sf) -- Class A-2 at AAA (sf) -- Class A-3 at AAA (sf) -- Class A-4 at AAA (sf) -- Class A-5 at AAA (sf) -- Class A-AB at AAA (sf) -- Class X-A at AAA (sf) -- Class X-B at AAA (sf) -- Class X-C at AAA (sf) -- Class X-D at AAA (sf) -- Class X-E at AAA (sf) -- Class A-S at AAA (sf) -- Class B at AA (sf) -- Class PEZ at A (low) (sf) -- Class C at A (low) (sf) -- Class D at BBB (low) (sf) -- Class E at BB (low) (sf) -- Class F at B (low) (sf) All trends are Stable. The rating confirmations reflect the overall performance of the transaction, which has remained in line with DBRS's expectations since issuance. The collateral consists of 74 fixed-rate loans secured by 112 commercial properties, and as of the February 2017 remittance, there has been a collateral reduction of 1.3% since issuance. Loans representing 97.9% of the current pool balance are reporting YE2015 figures with a weighted-average (WA) debt service coverage ratio (DSCR) and WA debt yield of 1.89 times (x) and 10.1%, respectively. The DBRS WA DSCR and WA debt yield at issuance were 1.68x and 8.9%, respectively. The largest 15 loans in the pool represent 50.9% of the transaction balance and reported YE2015 financials showing a WA net cash flow growth of 11.2% over the DBRS figures, with a WA DSCR and WA debt yield of 2.16x and 10.4%, respectively. As of the February 2017 remittance, there are five loans on the servicer's watchlist, representing 6.5% of the current pool balance. IDERA INC: S&P Revises Outlook to Stable & Affirms 'B' CCR ---------------------------------------------------------- S&P Global Ratings revised the outlook to stable from negative and affirmed all its ratings on Houston-based Idera Inc., including its 'B' corporate credit rating. At the same time, S&P affirmed its 'B' issue-level rating on the company's $347.5 million first-lien credit facility, consisting of a $25.0 million revolving credit facility due 2020 and a $322.5 million first-lien term loan due 2021. The recovery rating is unchanged at '3', indicating S&P's expectation of meaningful (50%-70%; rounded estimate 60%) recovery in the event of a default scenario. In addition, S&P affirmed its 'B-' issue-level rating on the company's $100 million second-lien term loan due 2022. The recovery rating is unchanged at '5', indicating S&P's expectation of modest (10%-30%; rounded estimate 10%) recovery in the event of a default scenario. "The outlook revision is based on our view that Idera has been able to implement the Embarcadero Technologies Inc. cost synergy plan and improve EBITDA, with adjusted leverage below 7x for the two most recent trailing-12-month periods," said S&P Global Ratings credit analyst Geoffrey Wilson. INDEPENDENCE TAX II: Incurs $209K Net Loss in Third Quarter ----------------------------------------------------------- Independence Tax Credit Plus L.P. II filed with the Securities and Exchange Commission its quarterly report on Form 10-Q reporting a net loss of $208,615 on $185,571 of total revenues for the three months ended Dec. 31, 2016, compared to a net loss of $182,289 on $197,030 of total revenues for the three months ended Dec. 31, 2015. For the nine months ended Dec. 31, 2016, the Partnership recognized a net loss of $609,342 on $601,718 of total revenues compared to a net loss of $429,246 on $634,810 of total revenues for the same period during the prior year. The Company's balance sheet at of Dec. 31, 2016, showed $2.11 million in total assets, $17.58 million in total liabilities and a total partners' deficit of $15.47 million. At Dec. 31, 2016, the Partnership's liabilities exceeded its assets by $15,476,698 and for the nine months ended Dec. 31, 2016, the Partnership had a net loss. The Partnership said these factors raise substantial doubt about its ability to continue as a going concern. The partnership management fees of approximately $1,897,000 will be payable out of sales or refinancing proceeds only to the extent of available funds after payments on all other Partnership liabilities have been made and after the Limited Partners have received a 10% return on their capital contributions. As such, the General Partner cannot demand payment of these deferred fees beyond the Partnership's ability to pay them. In addition, where the Partnership has unpaid partnership management fees related to sold properties, such management fees are written off and recorded as capital contributions. A full-text copy of the Form 10-Q is available for free at: https://is.gd/vff3SD About Independence Tax Credit Plus Based in New York, Independence Tax Credit Plus L.P. II was organized on Feb. 11, 1992, and commenced its public offering on Jan. 19, 1993. The general partner of the Partnership is Related Independence Associates L.P., a Delaware limited partnership. The general partner of Related Independence Associates L.P. is Related Independence Associates Inc., a Delaware Corporation. The ultimate parent of Related Independence Associates L.P. is Centerline Holding Company. The Partnership's business is primarily to invest in other partnerships owning leveraged apartment complexes that are eligible for the low-income housing tax credit enacted in the Tax Reform Act of 1986, some of which may also be eligible for the historic rehabilitation tax credit. The Partnership is in the process of developing a plan to dispose of all of its investments. INSIGHTRA MEDICAL: Hires Bayard P.A. as Counsel ----------------------------------------------- Insightra Medical, Inc., et al., seek authority from the U.S. Bankruptcy Court for the District of Delaware to employ Bayard, P.A., as counsel to the Debtor. Insightra Medical requires Bayard to: a. assist the Debtors with preparation of all applications, motions, answers, orders, reports, and other legal papers necessary to the administration of the Debtors' estates; b. negotiate, draft, pursue and assist the Debtors in their preparation of all documents, reports, and papers necessary for the administration of these chapter 11 cases; c. provide legal advice with respect to the powers and duties of the Debtors as debtors-in-possession in these chapter 11 cases in the continued operation of their businesses and management of their properties, including with respect to a potential sale of the Debtors' assets; d. appear in court and protect the interests of the Debtors before the Court; e. attend all meetings and negotiating with representatives of creditors, the U.S. Trustee, and other parties-in-interest; f. perform all other legal services for the Debtors which may be necessary and proper in this proceeding including, but not limited to, advice in areas such as bankruptcy law, corporate law, corporate governance, employment, transactional, litigation, intellectual property and other issues to the Debtors in connection with the Debtors' ongoing business operations; and g. perform all other legal services for, and providing all other necessary legal advice to, the Debtors which may be necessary and proper in these cases. Bayard will be paid at these hourly rates: Directors $475–975 Associates $305–450 Legal Assistants $240–295 Bayard will be paid a retainer in the amount of $100,000. Bayard will also be reimbursed for reasonable out-of-pocket expenses incurred. Justin R. Alberto, member of Bayard, P.A., assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtors and their estates. Bayard can be reached at: Justin R. Alberto, Esq. BAYARD, P.A. 222 Delaware Avenue, Suite 900 Wilmington, DE 19801 Tel: (302) 655-5000 Fax: (302) 658-6395 E-mail: jalberto@bayardlaw.com About Insightra Medical, Inc. Insightra Medical, Inc., and Modulare, Inc., filed Chapter 11 petitions (Bankr. D. Del. Case No. 17-10179) on Jan. 27, 2017. The Hon. Kevin Gross presides over the case. The Debtors are represented by Justin R. Alberto, Esq., and GianClaudia Finizio, Esq., at Bayard, P.A. In its petition, the Debtor estimated $1 million to $10 million in assets and $10 million to $50 million in liabilities. The petition was signed by Oliver Pokk, authorized representative. INSIGHTRA MEDICAL: Hires O'Neil as Special Counsel -------------------------------------------------- Insightra Medical, Inc., et al., seek authority from the U.S. Bankruptcy Court for the District of Delaware to employ O'Neil, LLP as special corporate and litigation counsel to the Debtor. Insightra Medical requires O'Neil to: a. provide legal advice to the Debtors in connection with Case No. BC495837 pending before the Superior of California for the County of Los Angeles, the "State Court Action"; b. negotiate, draft, and pursue all litigation and documentation necessary in conjunction with the State Court Action; and c. perform any other necessary legal services in connection with the State Court Action. O'Neil will be paid at these hourly rates: Partners $435–$465 Associates and Counsel $225–$350 Legal Assistants $150 O'Neil will also be reimbursed for reasonable out-of-pocket expenses incurred. O'Neil agreed to a retainer in the amount of $100,000. John D. Hudson, a partner at O'Neil, 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. O'Neil can be reached at: John D. Hudson, Esq. O'NEIL, LLP 19900 MacArthur Blvd, Suite 1050 Irvine, CA 92612 Tel: (949) 798-0500 About Insightra Medical, Inc. Insightra Medical, Inc., and Modulare, Inc., filed Chapter 11 petitions (Bankr. D. Del. Case No. 17-10179) on Jan. 27, 2017. The Hon. Kevin Gross presides over the case. The Debtors are represented by Justin R. Alberto, Esq., and GianClaudia Finizio, Esq., at Bayard, P.A. In its petition, the Debtor estimated $1 million to $10 million in assets and $10 million to $50 million in liabilities. The petition was signed by Oliver Pokk, authorized representative. INTERPACE DIAGNOSTICS: To Offer 1.2M Shares at $3 Apiece -------------------------------------------------------- Interpace Diagnostics Group, Inc. announced the pricing of an underwritten public offering of 1,200,000 shares of common stock with a public offering price of $3.00. The Company expects to receive gross proceeds of approximately $3.6 million, before deducting underwriting discounts and commissions and other estimated offering expenses. The Company has granted the representative of the underwriters an over-allotment option to purchase up to an additional 108,000 of the shares of its common stock. The offering is expected to close on or about Feb. 8, 2017, subject to customary closing conditions. Maxim Group LLC is acting as sole book-running manager for the offering. Roth Capital Partners is serving as financial advisor to Interpace. Interpace intends to use the net proceeds of the offering for working capital, repayment of indebtedness and other liabilities, and general corporate purposes. The shares of common stock are being offered under the Company's shelf registration statement on Form S-3 (No. 333-207263), including a base prospectus, previously filed with and declared effective by the U.S. Securities and Exchange Commission. The shares are being offered by means of a prospectus supplement and accompanying prospectus, forming a part of the effective registration statement. The prospectus supplement and accompanying prospectus related to the offering will be filed with the SEC and will be available on the website of the SEC at http://www.sec.gov. Electronic copies of the prospectus supplement and accompanying prospectus, when available, also may be obtained from Maxim Group LLC, 405 Lexington Avenue, 2nd Floor, New York, NY 10174, at 212-895-3745. About Interpace Diagnostics Headquartered in Parsippany, New Jersey, Interpace Diagnostics Group, Inc., is focused on developing and commercializing molecular diagnostic tests principally focused on early detection of high potential progressors to cancer and leveraging the latest technology and personalized medicine for patient diagnosis and management. The Company currently has four commercialized molecular tests: PancraGen, a pancreatic cyst molecular test that can aid in pancreatic cyst diagnosis and pancreatic cancer risk assessment utilizing the Company's proprietary PathFinder platform; ThyGenX, which assesses thyroid nodules for risk of malignancy, ThyraMIR, which assesses thyroid nodules risk of malignancy utilizing a proprietary gene expression assay. Interpace reported a net loss of $11.35 million in 2015 following a net loss of $16.07 million in 2014. As of Sept. 30, 2016, the Company had $45.96 million in total assets, $47.44 million in total liabilities and a total stockholders' deficit of $1.47 million. BDO USA, LLP, in Woodbridge, New Jersey, issued a "going concern" qualification on the consolidated financial statements for the year ended Dec. 31, 2015, citing that the Company has suffered recurring losses from continuing operations that raise substantial doubt about its ability to continue as a going concern. INTRINSIC4D INC: Defaults on 10.5% Convertible Debentures --------------------------------------------------------- Intrinsic4D Inc. on Feb. 22, 2017, disclosed that it is in default under its 10.5% convertible debentures issued on May 17 2016 (the "Second Tranche Debentures") as a result of its failure to make the aggregate interest payments of $37,117 (the "Interest Payment") on or before February 17, 2017 on the $1,414,000 aggregate principal amount of the Second Tranche Debentures. The Second Tranche Debentures were issued as part of an offering of secured convertible debentures first announced by the Corporation via press release on December 18, 2015, and were the second tranche of convertible debentures issued subsequent to its first tranche of convertible debentures issued on March 17, 2016 (the "First Tranche Debentures") and prior to the third and final tranche of convertible debentures issued on June 1, 2016 (the "Third Tranche Debentures" and collectively with the First Tranche Debentures and the Second Tranche Debentures, the "Debentures"). Following its failure to make the Interest Payment on February 17, 2016, the Corporation has thirty business days to make the Interest Payment before triggering an Event of Default under the Second Tranche Debentures, after which the terms of the Second Tranche Debentures provide the debenture holders with certain rights and remedies. The Debentures have a maturity date of 60 months from the date of issuance and pay interest at the rate of 10.5% per annum calculated and paid quarterly in arrears. The Debentures are secured by all of the present and after acquired property of the Corporation, and its wholly owned operating subsidiary, Intrinsic4D LLC (the "Operating Subsidiary"), subject to, in the case of the Operating Subsidiary, the first security rights of Mosaic Makro Medical Partners LLC ("Mosaic") discussed below. Effective February 16, 2017, Chris Schnarr has resigned as a director of the Corporation, and effective February 21, 2017, Jorey Chernett has resigned as director and the CEO of the Corporation. The board of directors has appointed Kyle Appleby, current CFO of the Corporation, as Interim CEO, to take effect immediately. Following the resignations the board of the Corporation presently consists of four members all of who are independent pursuant to applicable securities laws. An independent committee of the board of directors was previously formed to make decisions relating to the interest payments and maturity dates, overall financial position of the Corporation, strategic alternatives, and to determine what steps the Corporation should be taking. Extensive efforts have been made to date to raise additional capital, consider other forms of mergers, and sale of assets or sale of the entire Corporation. While all such efforts to date have been unsuccessful, the Corporation continues to be open to any viable transaction which could address the Corporation's liquidity needs as discussed below on a timely basis. The Corporation anticipates that unless it is able raise additional capital almost immediately, it will default and be unable to pay the following significant obligations which come due in the next 30 days: -- repay the aggregate amount of $1,079,000 outstanding on a $1,100,000 loan (the "Loan") from Mosaic, a company in which Jorey Chernett, the Corporation's former CEO and a director, is a manager and principal owner. The Operating Subsidiary received the Loan from Mosaic in 2014 in the form of a secured note bearing interest at 12% per annum. The Loan matures on March 1, 2017 and is secured by a priority security interest in the Operating Subsidiary, ranking above all other charges against the assets of the Operating Subsidiary. -- make the aggregate interest payments of $21,026 due on or before March 1, 2017 on the $801,000 aggregate principal amount of the Third Tranche Debentures -- make the aggregate interest payments of $23,966 due on or before March 17, 2017 on the $913,000 aggregate principal amount of the First Tranche Debentures While the Corporation continues to consider its alternatives, there can be no assurance that a viable transaction will result or successfully concluded in a timely manner, or at all, to resolve its cash liquidity problems. Additional information will be released by the Corporation as it occurs. Headquartered in Intrinsic4D Inc. (TSX VENTURE:IFD), formerly Maple Power Capital Corporation, is a medical software company. The Company is an owner and developer of Authentic three-dimensional (3D) and Authentic four dimensional (4D) (collectively Authentic), a medical imaging software platform that generates a 3D tour of anatomy. It serves legal, insurance and medical professions. IPC CORP: Moody's Affirms B3 Corporate Family Rating ---------------------------------------------------- Moody's Investors Service affirmed IPC Corp.'s B3 Corporate Family Rating, B3-PD Probability of Default Rating, senior secured 1st lien revolver and term loan at B2 and senior secured second lien term loan at Caa2. The outlook was changed to negative from positive reflecting weak financial performance over the last few quarters which has caused leverage to rise to over 7x (measured on a Moody's adjusted debt to EBITDA basis) and Moody's expectation for tightening headroom under the first-lien net leverage covenant in 2017. RATINGS RATIONALE The B3 CFR reflects IPC's high leverage combined with its high business risk profile, as demonstrated by volatile and uncertain demand for the company's specialized communications products and the non-recurring nature of trading turrets installation revenues (historically about 22% of total revenues). For LTM December 31, 2016 adjusted EBITDA decreased 21% to about $133 million (Moody's adjusted), driven by strengthening of the US dollar impacting reported profitability of European earnings, lower product revenue due to the timing of revenue recognition on Unigy conversion projects and the higher cost associated with building out infrastructure for IPC's Network segment. Overall Moody's expects IPC's credit metrics will strengthen modestly over the next 12 months, supported by the realization of synergies and a decline in non-recurring expenses, improving demand for Unigy platform, stabilization in its network voice services business and continued data revenue growth. IPC's backlog grew to about $75 million (or $104 million total, inclusive of subscription contracts) at December 31, 2016, compared to about $50 million at December 31, 2015. Accordingly, Moody's expects leverage (measured on a Moody's adjusted debt to EBITDA basis) to decline to under 7x during that time through a combination of modest EBITDA growth and debt repayments. The overall market for trading turret systems has limited long-term growth prospects. However, Moody's expects some demand traction over the near to medium term due to upgrades of the legacy install base. Moody's expects IPC's margins to remain under pressure as the company grows sales of its lower margin data services to offset the pricing pressure in its higher margin voice connectivity services. The company's data services business represents approximately 25% of Network revenue, but has the potential to grow and improve its margins as it achieves scale. IPC's ratings are supported by the company's leading market segment position as a supplier of specialized communications systems to traders and brokers in the financial services industry and long standing relationships with key global customers. Additionally, the acquisition of Etrali in 2016 expanded the breadth of IPC's offerings and allowed for significant cost synergies. The, majority of these synergies have been achieved and the rest are expected to be completed over the next year. The negative rating outlook reflects concern that despite indicators of an improving backlog, weak performance trends may continue and headroom under the first lien net leverage covenant may tighten over the next few quarters due to step downs in covenant levels. The covenant threshold steps down to 4.25x on March 31, 2017 and then again on September 30, 2017 to 4.0x (the covenant was measured at below 10% headroom at December 31, 2016 against a threshold of 4.5x). Absent an improvement in profitability and free cash flow ("FCF"), IPC could be required to seek amendments or waivers to covenant levels or an equity cure. Although FCF is expected to improve as synergies are realized and non-recurring expenses drop off, IPC's liquidity is considered weak given Moody's expectation for limited headroom under the first lien net leverage covenant over the next few quarters. The first lien term loan has required amortization of 1% per annum, with a bullet due at maturity. The first lien notes have a bullet due at maturity. The second lien term loan has no required annual amortization and has a bullet due a maturity also. IPC's ratings could be downgraded if there is a sustained decline in revenues or EBITDA resulting from competitive challenges or weak business execution (including potentially integrating Etrali), particularly if leverage is sustained above 7x or if FCF is negative. Furthermore, if the company's liquidity continues to deteriorate, a downgrade is possible. IPC's ratings could be upgraded if IPC demonstrates revenue and earnings growth and reduces debt to maintain leverage below 5.5x, FCF to debt improves to greater than 8% and liquidity substantially improves. The following ratings were affirmed: Issuer: IPC Corp. Corporate Family Rating - B3 Probability of Default Rating - B3-PD Senior Secured 1st Lien Revolving Credit Facility - B2 (LGD3) Senior Secured 1st Lien Term Loan Facility - B2 (LGD3) Senior Secured Second Lien Term Loan Facility - Caa2 (LGD5) Outlook -- Changed to negative from positive The principal methodology used in these ratings was Diversified Technology Rating Methodology published in December 2015. IPC, headquartered in Jersey City, New Jersey, provides network services, trading communication technology and compliance solutions primarily to the financial markets community. IPC generated revenues of about $543 million for FY ending September 30, 2016 and is owned by private equity firm Centerbridge Partners L.P. ISLAND FESTIVAL: Case Summary & 20 Largest Unsecured Creditors -------------------------------------------------------------- Debtor: Island Festival Rentals and Recycling, Corp. PMB 150 138 Winston Churchill San Juan, PR 00926 Case No.: 17-01377 Chapter 11 Petition Date: February 28, 2017 Court: United States Bankruptcy Court District of Puerto Rico (Old San Juan) Judge: Hon. Edward A Godoy Debtor's Counsel: Enrique M Almeida Bernal, Esq. ALMEIDA & DAVILA PSC PO Box 191757 San Juan, PR 00919-1757 Tel: (787) 722-2500 Fax: (787)777-1376 E-mail: info@almeidadavila.com Estimated Assets: $50,000 to $100,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Wilfredo Medina Ramirez, president. A copy of the Debtor's list of 20 largest unsecured creditors is available for free at http://bankrupt.com/misc/prb17-01377.pdf ITUS CORP: Changes Record Date for Stock Rights Offering -------------------------------------------------------- ITUS Corporation is changing the record date for its current stock rights offering. The new Record Date will be Wednesday March 1, 2017. For new shareholders to be eligible for the rights offering, shareholders will need to purchase ITUS common stock by Friday, Feb. 24, 2017. Robert Berman, ITUS's president and CEO stated, "We are changing the Record Date due to the recent increased level of interest in ITUS and because we are presenting at 3 major investor conferences over the next two weeks in the United States and Europe." ITUS's board of directors has approved a rights offering for ITUS shareholders of up to $12,000,000. The rights offering will include the non-transferable right to purchase one share of ITUS common stock, at a discount, for each share of ITUS common stock owned by shareholders on the ownership day of Friday, Feb. 24, 2017. The discounted price will be the lesser of (i) 25% discount to the volume weighted average price for ITUS common stock for the five trading day period through and including Wednesday, March 1, 2017, subject to ITUS board approval and (ii) 15% discount to the volume weighted average price for ITUS common stock for the five trading day period through and including Friday, March 24, 2017. ITUS shareholders may elect to participate in the rights offering during the subscription period, which will begin on March 3, 2017, and is scheduled to end on March 24, 2017. The final discounted price will be announced on March 24, 2017, after market close and will be available on the Company's website at www.ITUScorp.com. Proceeds from the rights offering will be used for general working capital purposes, including the continued development of Cchek, and to further strengthen the company's balance sheet by reducing the Company's debt. Because the rights are not transferable, the rights cannot be sold, borrowed, assigned, or traded, and the only way to obtain the rights is to be a shareholder of record as of Feb. 24, 2017. The new calendar for the 2017 rights offering is as follows: Friday, February 24 Ownership Day - last day to purchase ITUS common stock to receive rights (must purchase by 4:00 p.m. Eastern Time to become a shareholder on the Record Date). Wednesday, March 1 Record Date (must own ITUS common stock to be eligible to receive rights); Maximum Price for rights offering is set. Friday, March 3 Subscription Period begins. Friday, March 24 Subscription Period ends at 5:00 p.m. Eastern Time (subject to extension of up to 30 days at the discretion of the Company). The Company will announce any additional changes to the above schedule, and the company reserves the right to cancel the rights offering at any time prior to the closing of the rights offering. ITUS recommends that current ITUS shareholders consider notifying their broker or financial advisor about the upcoming rights offering to ensure they will maximize their ability to participate in the rights offering. The rights offering will include an over subscription privilege, which will entitle each rights holder that exercises its basic subscription privilege the right to purchase additional shares of ITUS common stock that remain unsubscribed at the expiration of the rights offering. Both the basic and over-subscription privileges are subject to proration. Volume Weighted average pricing, commonly referred to as "VWAP", is the average share price of a stock weighted against its trading volume within a particular time frame, which in this instance will be a trading day. VWAP will be calculated as the number of shares bought during a given day multiplied by the share price of each purchase, the product of which is divided by the total shares bought. For the convenience of our shareholders, ITUS will calculate and make available the applicable VWAP pricing referred to in the opening paragraph above. The Company has hired MacKenzie Partners, Inc. as its information agent to assist shareholders with the transaction. Prior to the mailing of the prospectus, general information about rights offerings and answers to frequently asked questions will be made available on the Investor section ITUS website, as well as at 1(800)322-2885. Live operator telephone support to assist shareholders will also be available from 8 am to 9 pm Eastern standard time on weekdays and from 10 am to 6 pm on Saturdays. Advisory Group Equity Services, Ltd, which is doing business as RHK Capital, will act as dealer manager for the rights offering. RHK Capital and Advisor Group Equity Services invite any broker dealers interested in participating in the rights offering to contact the syndicate department at itus@rhk.capital. About ITUS Corporation ITUS Corp. -- http://www.ITUScorp.com/-- develops and acquires patented technologies for the purposes of patent monetization and patent assertion. The company currently has 10 patent portfolios in the areas of Key Based Web Conferencing Encryption, Encrypted Cellular Communications, E-Paper(R) Electrophoretic Display, Nano Field Emission Display ("nFED"), Micro Electro Mechanical Systems Display ("MEMS"), Loyalty Conversion Systems, J-Channel Window Frame Construction, VPN Multicast Communications, Internet Telephonic Gateway, and Enhanced Auction Technologies. CopyTele changed its name to "ITUS Corporation" on Sept. 2, 2014, to reflect the Company's change in its business operations. ITUS Corp reported a net loss of $5.01 million on $300,000 of total revenue for the year ended Oct. 31, 2016, compared to a net loss of $1.37 million on $9.25 million of total revenue for the year ended Oct. 31, 2015. As of Oct. 31, 2016, ITUS had $5.62 million in total assets, $4.64 million in total liabilities and $987,475 in total shareholders' equity. Haskell & White LLP, in Irvine, California, issued a "going concern" qualification on the consolidated financial statements for the year ended Oct. 31, 2016, citing that the Company has limited working capital and limited revenue-generating operations and a history of net losses and net operating cash flow deficits. These conditions raise substantial doubt about the Company's ability to continue as a going concern. JAMES HARDIE: S&P Affirms 'BB' CCR & Revises Outlook to Positive ---------------------------------------------------------------- S&P Global Ratings said it affirmed its 'BB' corporate credit rating on James Hardie. S&P also revised the outlook to positive from stable. At the same time, S&P has affirmed its 'BB' issue-level rating on subsidiary James Hardie International Finance Ltd.'s $400 million notes due 2023. The recovery rating is unchanged at '3' and continues to indicate S&P's expectation for meaningful (50% to 70%, rounded estimate 65%) recovery in the event of a payment default. "The positive outlook reflects our expectation that adjusted debt to EBITDA will remain below 3x over the next 12 months as improving new home construction and repair and remodeling spending, particularly in North America, support demand for the company's building products," said S&P Global Ratings credit analyst Kimberly Garen. "We could raise the rating to 'BB+' if leverage measures are sustained below 3x, consistent with an intermediate financial risk profile." S&P views a downgrade as unlikely, given its favorable outlook for home construction and remodeling spending. However, S&P could take such an action if adjusted debt levels are higher than it expects (perhaps closer to $1.7 billion), causing leverage to climb above 4x. This could occur if the company issues more debt than S&P anticipates or if dividend or share repurchase activity is more aggressive than S&P currently anticipates. JO-JO HOLDINGS: Sale of PII May Be Allowed, CPO Says ---------------------------------------------------- Warren E. Agin, the consumer privacy ombudsman appointed for Jo-Jo Holdings, Inc., Backwoods Retail, Inc., and Backwoods Adventures, Inc., filed a report on February 27, 2017, saying the Debtor is set to substantially sell all of its remaining business assets to SMAO, LLC. The CPO has reviewed the Debtors' current websites, reviewed its current terms of service, and current and historical privacy policies, and has interviewed the Debtors' CEO, who is familiar with the Debtors' privacy issues and its collection and use of customer information. The CPO believes that the proposed transfer of Personally Identifiable Information (PII) by the Debtors is not consistent with the Debtors' existing privacy policies, but the proposed sale can be allowed provided the Buyers' use of the information is conditioned as provided in the Asset Purchase Agreement (APA). A full-text copy of the CPO Report is available for free at: http://bankrupt.com/misc/txnb16-44337-187.pdf The CPO can be reached at: Warren E. Agin SWIGGART & AGIN, LLC 197 Portland Street, Fourth Floor Boston, MA 02114 (617) 517-3203 Email: wea@swiggartagin.com About Jo-Jo Holdings Jo-Jo Holdings, Inc., and its affiliates filed Chapter 11 petitions(Bankr. N.D. Tex. Lead Case No. 16-44337) on November 9, 2016. The Debtors are represented by Katherine T. Hopkins, Esq., Michael A. McConnell, Esq., Nancy Ribaudo, Esq., and Clay M. Taylor, Esq., at Kelly Hart & Hallman LLP. The Debtors have hired A. McConnell as consultant. The Office of the U.S. Trustee on Dec. 30, 2016, appointed three creditors to serve on the official committee of unsecured creditors. In their petitions, the Debtors estimated assets and liabilities: Jo-Jo Holdings, Inc. listed under $50,000 in assets and $1 million to $10 million in liabilities. Backwoods Retail, Inc. listed $1 million to $10 million in assets, and $10 million to $50 million in liabilities. Backwoods Adventures, Inc. listed under $50,000 in assets and under $1 million in liabilities. The petitions were signed by Jennifer Mull Neuhaus, president. JOHN Q. HAMMONS: Directors Hire Protiviti as Professional --------------------------------------------------------- The Independent Directors of John Q. Hammons Fall 2006, LLC, et al., seek authority from the U.S. Bankruptcy Court for the District of Kansas to employ Protiviti, Inc. as ordinary course professional to the Independent Directors. The Independent Directors requires Protiviti to provide the discosure required under Rule 2014(a) of the Federal Rules of Bankruptcy Procedure and as required under Dkt 263. Protiviti will be paid at these hourly rates: Suzanne B. Roski $608 Other Professionals $189-$653 Protiviti will also be reimbursed for reasonable out-of-pocket expenses incurred. Suzanne B. Roski, member of Protiviti, 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. Protiviti can be reached at: Suzanne B. Roski PROTIVITI, INC. 9401 Indian Creek Parkway, Suite 770 Overland Park, KS 66210 Tel: (913) 661-3400 About John Q. Hammons Fall 2006, LLC Springfield, Mo.-based John Q. Hammons Hotels & Resorts (JQH) -- http://www.jqhhotels.com/-- is a private, independent owner and manager of hotels in the United States, representing brands such as: Marriott, Hilton, Embassy Suites by Hilton, Sheraton, IHG, Chateau on the Lake Resort / Spa & Convention Center, and Plaza Hotels Collection. It has portfolio of 35 hotels representing approximately 8,500 guest rooms/suites in 16 states. John Q. Hammons Fall 2006, LLC, and its affiliated debtors filed chapter 11 petitions (Bankr. D. Kan. Case Nos. 16-21139 to 16-21208) on June 26, 2016. The petitions were signed by Greggory D. Groves, vice president. At the time of filing, the Debtors estimated assets at $100 million to $500 million and liabilities at $100 million to $500 million. The Debtors are represented by Mark A. Shaiken, Esq., Mark S. Carder, Esq., and Nicholas Zluticky, Esq., at Stinson Leonard Street LLP. The Debtors' conflicts counsel is Victor F. Weber, Esq., at Merrick Baker and Strauss PC. The Debtors engaged BMC Group, Inc. as their notice, claims, and balloting agent; and Alvarez & Marsal Valuation Services, LLC as appraiser. JOINT VENTURE: Court Approves 75K DIP Loan, Cash Collateral Use --------------------------------------------------------------- Judge Frank W. Volk of the U.S. Bankruptcy Court for the Southern District of West Virginia authorized the the Chapter 11 trustee of Joint Venture Development, LLC to use the cash collateral of Peoples Bank on an interim basis through June 30, 2017. Judge Volk also authorized the Trustee to obtain postpetition financing from Peoples Bank in the maximum interim amount of $75,000 which will bear interest at a rate of 10% per annum. Peoples Bank consented to the use of cash collateral in order that Thomas H. Fluharty, the Chapter 11 Trustee, may continue to operate the Debtor's business as a Chapter 11 Debtor. Pursuant to a certain loan between the Debtor and Peoples Bank, the Debtor's indebtedness totaled at least $776,900 as of the Petition Date, which is secured by all of the assets of Joint Venture, which includes a certain real property located at 1550 Wolohan Drive, Ashland, KY, including the leases and rents related to the real property. The approved approved Budget which contemplates a 6-month cash flow from January through June 2017 provides total cash payout of approximately $96,356. The Trustee is directed to pay to Peoples Bank, a payment equivalent to the principal and interest payment due in accordance with the terms of the Loan, which is approximately $7,260 per month, with interest accruing at the non-default rate. The Debtor was also directed to forthwith pay four past due debt service payments totaling $29,159 to Peoples Bank. Peoples Bank is granted security interest in and to all of the Debtor's postpetition assets in addition to the collateral granted as security which existed on the Petition Date, which will be subject only to the Carve-out. The Carve-Out includes: (a) the payment of fees pursuant to 28 U.S.C. Section 1930; (b) the payment of Chapter 11 Trustee fees of up to the amount of $60,000, less any allowed and approved professional legal fees; and (c) all unpaid legal fees and expenses of the Debtor's professionals. Judge Volk held that the obligations of the Debtor under the DIP Loan will: (a) constitute an allowed administrative expense claim; (b) at all times be senior to any rights arising under Section 546(c) of the Bankruptcy Code; and (c) at all times be secured by a perfected priority lien and security interest on all assets of the Debtor. A full-text copy of the Order, dated February 21, 2017, is available at https://is.gd/hJGVU5 The Chapter 11 Trustee is represented by: Joe M. Supple, Esq. Supple Law Office PLLC 801 Viand Street Point Pleasant, WV 2555 Telephone: 304.675.6249 E-mail: joe.supple@supplelaw.net About Joint Venture Development A special receiver was appointed on May 18, 2016, for certain of Dennis Ray Johnson's entities. A substitute special receiver, Zachary Burkons, was later appointed on August 15, 2016. The successor special receiver filed Chapter 11 petitions for Appalachian Mining and Reclamation, LLC, Green Coal, LLC, Joint Venture Development, LLC, Producers Coal, Inc., Producers Land, LLC, and Redbud Dock, LLC. Joint Venture Development, LLC's bankruptcy case is Case No. 16-30403 (Bankr. S.D. W.Va.). Dennis Ray Johnson is a businessman with ownership interests in at least 10 entities. He operates various rental real estate entities and coal associated operations. Mr. Johnson is a member of each of the following debtor companies -- Appalachian Mining and Reclamation LLC, DJWV1 LLC, DJWV2 LLC, Elkview Reclamation and Processing LLC, Green Coal LLC, Joint Venture Development LLC, Little Kentucky Elk LLC, Moussie Processing LLC, Producer's Coal Inc., Producer's Land LLC, Redbud Dock LLC, Southern Marine Services LLC, Southern Marine Terminal LLC, and The Silo Golf Course LLC -- and has filed a motion asking the Bankruptcy Court to jointly administer the bankruptcy cases. Mr. Johnson is also a guarantor of the debt for most of the companies. Thomas H. Fluharty was appointed as the Chapter 11 trustee for Joint Venture Development. JOYCE LESLIE: Clear Thinking Group Named Plan Administrator ----------------------------------------------------------- Clear Thinking Group LLC on March 1, 2017, disclosed that it has been named plan administrator for Joyce Leslie Inc., as part of the Debtor's confirmed plan of liquidation. The fashion retailer had previously filed a voluntary petition under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the Southern District of New York in January 2016. Clear Thinking Group has also announced that Managing Director Patrick Diercks will lead its Creditors' Rights practice group. In this role, he will be responsible for managing a team of professionals devoted to end of case services. "Over the past 16 years, Clear Thinking Group has established a reputation for delivering practical and cost-effective results for each case. I look forward to strengthening that reputation and delivering the value clients have come to expect from our firm," said Patrick Diercks. Mr. Diercks has over 12 years of experience in the turnaround and restructuring arena. He has provided services to Debtors within the Chapter 11 bankruptcy process including: preparation of cash collateral forecasts, DIP budgets, claims analysis, asset analysis and recovery, as well as estate wind-down activities. Mr. Diercks has also been retained to assist bankruptcy estate trustees as part of post confirmation plan administration. In that role, his responsibilities have included claims analysis, preference analysis, and distribution of funds to creditors. "Pat's experience in all aspects of the bankruptcy process made him the ideal candidate to lead our reinvigorated Creditors' Rights practice. He will be able to quickly identify issues and ascertain a course of action in an effort to achieve the maximum possible return to creditors," adds Stuart Kessler, President of Clear Thinking Group. About Clear Thinking Group Clear Thinking Group -- http://www.clearthinkinggroup.com-- is a management consulting firm that helps consumer product, retail, staffing, food processing, and distribution companies to succeed, at any stage of their life cycle, with clear direction and practical solutions. About Joyce Leslie Joyce Leslie, Inc., operates a chain of 47 women's retail clothing stores located throughout New York, New Jersey, Pennsylvania and Connecticut. It filed a Chapter 11 bankruptcy petition (Bankr. S.D.N.Y. Case No. 16-22035) on Jan. 9, 2016. The petition was signed by Lee Diercks as chief restructuring officer. The Debtor disclosed total assets of $7 million and total debts of $9 million. Judge Robert D. Drain has been assigned the case. The Debtor has engaged Goldberg Weprin Finkel Goldstein LLP as counsel, Clear Thinking Group as financial advisor, Oberon Securities, LLC, as investment advisor, SB Capital Group LLC, Tiger Capital Group, LLC, and 360 Merchant Solutions, LLC, as liquidation agents and Rust Consulting/Omni Bankruptcy as claims and noticing agent. An official committee of unsecured creditors has been appointed in the case. JPS COMPLETION: Taps Adamson & Company as Tax Consultant -------------------------------------------------------- JPS Completion Fluids, Inc., seeks authority from the U.S. Bankruptcy Court for the Western District of Texas to employ Adamson & Company, LLC as tax consultant to the Debtor. JPS Completion requires Adamson & Company to: a. prepare the 2016 W2 and 1099 forms including electronic filing; b. prepare the payroll (941, 940 & TWC) forms for 2nd-4th quarters; and c. prepare of 2016 Federal Income Tax Return & 2017 Franchise Tax Return. Adamson & Company will be paid a retainer in the amount of $10,500. Adamson & Company will also be reimbursed for reasonable out-of-pocket expenses incurred. Austin Adamson, member of Adamson & Company, 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. Adamson & Company can be reached at: Austin Adamson ADAMSON & COMPANY, LLC 701 Ayers St. Corpus Christi, TX 78404 Tel: (361) 887-8916 Fax: (261) 884-9576 About JPS Completion Fluids JPS Completion Fluids, Inc., a domestic corporation with principal place of business in Mathis, San Patricio County, Texas, provided chemicals and other completion fluids for the oil and gas industry. JPS sought Chapter 11 protection (Bankr. W.D. Tex. Case No. 16-51110) on May 11, 2016. The petition was signed by Sergio Garza, vice president. Judge Craig A. Gargotta is assigned to the case. The Debtor estimated assets and liabilities of $1 million to $10 million. Nathaniel Peter Holzer, Esq., at the Jordan Hyden Womble Culbreth & Holzer PC, serves as the Debtor's counsel. No official committee of unsecured creditors has been appointed in the case. KALOBIOS PHARMACEUTICALS: Nantahala Has 9.7% Stake as of Dec. 31 ---------------------------------------------------------------- In a regulatory filing with the Securities and Exchange Commission Nantahala Capital Management, LLC, reported that as of Dec. 31, 2016, it may be deemed to be the beneficial owner of 1,450,000 shares of common tock of Kalobios Pharmaceuticals, Inc. held by funds and separately managed accounts under its control. As the managing members of Nantahala, each of Messrs. Wilmot B. Harkey and Daniel Mack may be deemed to be a beneficial owner of those Shares. As of Dec. 31, 2016, each of the Reporting Persons may be deemed to be the beneficial owner of 9.7% of the total number of Shares outstanding (based upon information provided by the Issuer on Form 10-Q filed Nov. 10, 2016, there were 14,903,022 Shares outstanding as of Nov. 9, 2016). A full-text copy of the Schedule 13G is available for free at: https://is.gd/KgO6vX About KaloBios Pharmaceuticals Based in South San Francisco, Calif., KaloBios Pharmaceuticals, Inc., is a biopharmaceutical company focused on the development of monoclonal antibody therapeutics. KaloBios Pharmaceuticals (Nasdaq: KBIO) on Dec. 29, 2015, filed a voluntary petition for bankruptcy protection under Chapter 11 of Title 11 of the United States Bankruptcy Code (Bankr. D. Del. Case No. 15-12628). The Company was represented by Eric D. Schwartz of Morris, Nichols, Arsht & Tunnell. Six months after its bankruptcy filing, KaloBios emerged from Chapter 11 bankruptcy and has also acquired the rights from Savant Neglected Diseases LLC to develop benznidazole for the treatment of Chagas disease. LARK TRANSPORTATION: U.S. Trustee Unable to Appoint Committee ------------------------------------------------------------- The Office of the U.S. Trustee on Feb. 28 disclosed in a court filing that no official committee of unsecured creditors has been appointed in the Chapter 11 case of Lark Transportation Corp. Lark Transportation Corp. filed a Chapter 11 bankruptcy petition (Bankr. E.D.N.Y. Case No. 17-70372) on Jan. 23, 2017. Roy J. Lester, Esq., at Lester & Associates, PC, serves as the Debtor's counsel. The Debtor's assets and liabilities are both below $1 million. LAS VEGAS YOGA: Hires Andersen as Attorney ------------------------------------------ Las Vegas Yoga LLC, seeks authority from the U.S. Bankruptcy Court for the District of Nevada to employ Andersen Law Firm, Ltd., as its attorney. Las Vegas Yoga requires Andersen to: a) advise the Debtor with respect to its powers and duties as a debtor and debtors-in-possession in the continued management and operation of its business and property; b) attend meetings and negotiate with representatives of creditors and other parties in interest and advise and consult on the conduct of the Chapter 11 case, including the legal and administrative requirements of operating in Chapter 11; c) take all necessary action to protect and preserve the bankruptcy estate, including the prosecution of actions on its behalf, the defense of any actions commenced against the bankruptcy estate, negotiations concerning all litigation in which the Debtor may be involved, and objections to claims filed against the bankruptcy estate; d) prepare on behalf of the Debtor all motions, applications, answers, orders, reports, and papers necessary to the administration of the estate; e) negotiate and prepare on the Debtor's behalf plans of reorganization, disclosure statements, and all related agreements and documents and take any necessary action on behalf of the Debtor to obtain confirmation of such plans; f) advise the Debtor in connection with any sale of assets; g) appear before the bankruptcy Court, any appellate courts, and the U.S. Trustee, and protect the interests of the bankruptcy estate before such courts and the U.S. Trustee; and h) perform all other necessary legal services and provide all other necessary legal advice to the Debtor in connection with its Chapter 11 case. Andersen will be paid at these hourly rates: Attorneys $320 Paralegals/Law Clerks $130 Andersen will also be reimbursed for reasonable out-of-pocket expenses incurred. Ryan A. Andersen, member of Andersen Law Firm, assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtor and its estates. Andersen can be reached at: Ryan A. Andersen, Esq. ANDERSEN LAW FIRM, LTD. 101 Convention Center Drive, Suite 600 Las Vegas, NV 89109 Tel: (702) 522-1992 Fax: (702) 825-2824 About Las Vegas Yoga LLC Las Vegas Yoga LLC, filed a Chapter 11 bankruptcy petition (Bankr. D. Nev. Case No. 17-10676) on Feb. 16, 2017, disclosing under $1 million in both assets and liabilities. LATTICE INC: Bard Associates Ceases to be 5% Shareholder -------------------------------------------------------- Bard Associates, Inc. reported in a Schedule 13G filed with the Securities and Exchange Commission that as of Dec. 31, 2016, it beneficially owns 4,042,663 shares of common stock of Lattice Incorporated representing 3.9 percent of the shares outstanding. A full-text copy of the regulatory filing is available at: https://is.gd/xLXzOv About Lattice Inc. Pennsauken, New Jersey-based Lattice Incorporated provides telecommunications services to correctional facilities and specialized telecommunication service providers in the United States. Lattice reported a net loss available to common shareholders of $5.55 million on $7.58 million of revenue for the year ended Dec. 31, 2015, compared to a net loss available to common shareholders of $1.82 million on $8.94 million of revenue for the year ended Dec. 31, 2014. As of June 30, 2016, Lattice had $3.01 million in total assets, $10.63 million in total liabilities and a total shareholders' deficit of $7.62 million. Rosenberg Rich Baker Berman & Company, in Somerset, New Jersey, issued a "going concern" qualification on the consolidated financial statements for the year ended Dec. 31, 2015, citing that the Company has a working capital deficit and requires additional working capital to meet its current liabilities. These factors raise substantial doubt about the Company's ability to continue as a going concern. LIMITED STORES: Creditors' Panel Hires Kelley as Lead Counsel ------------------------------------------------------------- The Official Committee of Unsecured Creditors of Limited Stores Company, LLC, et al., seeks authorization from the U.S. Bankruptcy Court for the District of Delaware to retain Kelley Drye & Warren LLP as lead counsel to the Committee. The Committee requires Kelley to: a. advise the Committee with respect to its rights, duties and powers in the bankruptcy case; b. assist and advise the Committee in its consultations with the Debtors in connection with the administration of the bankruptcy case; c. assist the Committee in its investigation of the acts, conduct, assets, liabilities, and financial condition of the Debtors; d. assist the Committee in connection with the sale of the Debtors' Intellectual Property and e-commerce platform and confirmation of a liquidating chapter 11 plan, and any other matter relevant to the case; e. assist the Committee in analyzing the claims of the Debtors' creditors and the Debtors' capital structure and in negotiating with holders of claims, including analysis of possible objections to the priority, amount, subordination, or avoidance of claims and transfer of property in consideration of such claims; f. advise and represent the Committee in connection with matters generally arising in the bankruptcy case, including the Debtors' post petition financing and the rejection or assumption of executor contracts and unexpired leases; g. appear before the bankruptcy Court, and any other federal, state or appellate court; h. prepare, on behalf of the Committee, any pleadings, including without limitation, motions, memoranda, complaints, objections, and responses to any of the foregoing; and i. perform such other legal services as may be required or are otherwise deemed to be in the interest of the Committee in accordance with the Committee's powers and duties as set forth in the Bankruptcy Code, Bankruptcy Rules, or other applicable law. Kelley will be paid at these hourly rates: Partners $540-$995 Counsel $370-$750 Associates $310-$740 Paraprofessionals $185-$330 Kelley will also be reimbursed for reasonable out-of-pocket expenses incurred. In accordance with Appendix B-Guidelines for Reviewing Applications for Compensation and Reimbursement of Expenses Filed under 11 U.S.C. Sec. 330 for Attorneys in Larger Chapter 11 Cases, the following is provided in response to the request for additional information: Question: Did you agree to any variations from, or alternatives to, your standard or customary billing arrangements for this engagement? Response: Yes. Kelley has voluntarily agreed to reduce the standard hourly rate for James S. Carr by 10%. Question: Do any of the professionals included in this engagement vary their rate based on the geographic location of the bankruptcy case? Response: No. Question: If you represented the client in the 12 months prepetition, disclose your billing rates and material financial terms for the prepetition engagement, including any adjustments during the 12 months prepetition. If your billing rates and material financial terms have changed postpetition, explain the difference and the reasons for the difference. Response: Kelley did not represent the Committee in the 12 months prepetition. Kelley has represented other Committees in the 12 months prepetition in bankruptcy cases. Question: Has your client approved your prospective budget and staffing plan, and, if so for what budget period? Response: Yes. For the period of January 24, 2017 through March 31, 2017. James S. Carr, member of Kelley Drye & Warren, 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. Kelley can be reached at: James S. Carr, Esq. KELLEY DRYE & WARREN LLP 101 Park Avenue New York, NY 10178 Tel: (212) 808-7800 About Limited Stores Company, LLC 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: Creditors' Panel Hires Pachulski as Co-Counsel -------------------------------------------------------------- The Official Committee of Unsecured Creditors of Limited Stores Company, LLC, et al., seeks authorization from the U.S. Bankruptcy Court for the District of Delaware to retain Pachulski Stang Ziehl & Jones LLP as co-counsel to the Committee. The Committee requires Pachulski to: a. assist, advise, and represent the Committee in its consultation with the Debtors regarding the administration of the banruptcy cases; b. assist, advise, and represent the Committee with respect to the Debtor's retention of professionals and advisors with respect to the Debtors' business and the bankruptcy cases; c. assist, advise, and represent the Committee in analyzing the Debtors' assets and liabilities, investigating the extent and validity of liens and participating in and reviewing any proposed asset sales, any asset dispositions, financing arrangements and cash collateral stipulations or proceedings; d. assist, advise and represent the Committee in any manner relevant to reviewing and determining the Debtors' rights and obligations under leases and other executor contracts; e. assist, advise and represent the Committee in investigating the acts, conduct, assets, liabilities and financial condition of the Debtors, the Debtors' operations and the desirability of the continuance of any portion of those operations, and any other matters relevant to the bankruptcy cases or to the formulation of a plan; f. assist, advise and represent the Committee in connection with any sale of the Debtors' assets; g. assist, advise and represent the Committee in its participation in the negotiation, formulation, or objection to any plan of liquidation or reorganization; h. assist, advise and represent the Committee in understanding its powers and its duties under the Bankruptcy Code and the Bankruptcy Rules and in performing other services as are in the interests of those represented by the Committee; i. assist, advise and represent the Committee in the evaluation of claims and on any litigation matters, including avoidance actions; and j. provide such other services to the Committee as may be necessary in the bankruptcy Cases. Pachulski will be paid at these hourly rates: Partners/Counsel $575-$1,245 Associates $450-$595 Paralegals $325-$350 Pachulski will also be reimbursed for reasonable out-of-pocket expenses incurred. In accordance with Appendix B-Guidelines for Reviewing Applications for Compensation and Reimbursement of Expenses Filed under 11 U.S.C. Sec. 330 for Attorneys in Larger Chapter 11 Cases, the following is provided in response to the request for additional information: Question: Did you agree to any variations from, or alternatives to, your standard or customary billing arrangements for this engagement? Response: No. Question: Do any of the professionals included in this engagement vary their rate based on the geographic location of the bankruptcy case? Response: No. Question: If you represented the client in the 12 months prepetition, disclose your billing rates and material financial terms for the prepetition engagement, including any adjustments during the 12 months prepetition. If your billing rates and material financial terms have changed postpetition, explain the difference and the reasons for the difference. Response: Not applicable. Question: Has your client approved your prospective budget and staffing plan, and, if so for what budget period? Response: Yes. Bradford J. Sandler, a partner at Pachulski Stang Ziehl & Jones LLP, assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and (a) are not creditors, equity security holders or insiders of the Debtor; (b) have not been, within two years before the date of the filing of the Debtor's chapter 11 petition, directors, officers or employees of the Debtor; and (c) do not have an interest materially adverse to the interest of the estate or of any class of creditors or equity security holders, by reason of any direct or indirect relationship to, connection with, or interest in, the Debtor, or for any other reason. Pachulski can be reached at: Bradford J. Sandler, Esq. PACHULSKI STANG ZIEHL & JONES LLP 919 North Market Street, 17th Floor Wilmington, DE 19801 Tel: (302) 652-4100 About Limited Stores Company, LLC 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: Creditors' Panel Taps CBIZ as Financial Advisor --------------------------------------------------------------- The Official Committee of Unsecured Creditors of Limited Stores Company, LLC, et al., seeks authorization from the U.S. Bankruptcy Court for the District of Delaware to retain CBIZ Accounting Tax and Advisory of New York LLC as its financial advisor. The Committee requires CBIZ to: a. analyze the financial operations of the Debtors pre- and post-petition, as necessary; b. analyze the financial ramifications of any proposed transactions for which the Debtors seek Bankruptcy Court approval including, but not limited to, post-petition financing, sale of all or a portion of the Debtors' assets, retention of management and employee incentive and severance plans; c. conduct any requested financial analysis including verifying the material assets and liabilities of the Debtors, as necessary, and their values; d. assist the Committee in its review of monthly statements of operations submitted by the Debtors; e. perform claims analysis for the Committee; f. assist the Committee in its evaluation of cash flow and other projections, including business plans prepared by the Debtor; g. scrutinize cash disbursements on an on-going basis for the period subsequent to the commencement of the chapter 11 cases; h. perform forensic investigating services, as requested by the Committee and counsel, regarding prepetition activities of the Debtors in order to identify potential causes of action, including investigating intercompany transfers, improvements in position, and fraudulent transfers; i. analyze transactions with insiders, related and affiliated companies; j. analyze transactions with the Debtors' financing institutions; k. attend meetings of creditors and conference calls with representatives of the creditor groups and their counsel; l. prepare certain valuation analyses of the Debtors' businesses and assets using various professionally accepted methodologies; m. evaluate financing proposals and alternatives proposed by the Debtors for debtor-in-possession financing; n. monitor the Debtors' sales process, assist the Committee in evaluating sales proposals and alternatives and attend any auctions of the Debtors' assets; o. assist the Committee in its review of the financial aspects of a plan of liquidation submitted by the Debtors and perform any related analyses, including liquidation analyses and feasibility analyses, and evaluate best exit strategy; p. assist counsel in preparing for any depositions and testimony, as well as prepare for and provide expert testimony at depositions and court hearings, as requested; and q. perform other necessary services as the Committee or the Committee's counsel may request from time to time with respect to the financial, business and economic issues that may arise. CBIZ will be paid at these hourly rates: Directors and Managing Directors $425-$775 Managers and Senior Managers $370-$450 Senior Associates and Staff $175-$370 CBIZ will also be reimbursed for reasonable out-of-pocket expenses incurred. Esther Duval, a member of CBIZ, assures 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. CBIZ can be reached at: Esther Duval CBIZ ACCOUNTING TAX AND ADVISORY OF NEW YORK LLC 111 West 40th Street New York, NY 10018 Tel: (212) 790-5700 About Limited Stores Company 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. LOF ASSOCIATES: Taps Rosen & Federico as Accountant --------------------------------------------------- LOF Associates Inc. and PAOS Associates, Inc. seek approval from the U.S. Bankruptcy Court for the Eastern District of New York to hire an accountant. The Debtors propose to hire Rosen & Federico, CPAs to assist in preparing their tax returns, and provide other accounting services related to their Chapter 11 cases. The hourly rates charged by the firm are: Vincent Sullivan III, CPA $350 Senior Staff $265 Other Staff $120 Administrative $95 Rosen & Federico is a "disinterested person" as defined in section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached through: Vincent Sullivan III Rosen & Federico, CPAs 135 Crossways Park Drive, Suite LL03 Woodbury, NY, 11797 Phone: (516)681-3783 Fax: (516)681-3810 Email: info@rosenandfederico.com About LOF Associates Inc. LOF Associates Inc. d/b/a Pets Aquatic is a New York corporation, with its principal place of business located at 411 Jericho Turnpike, New Hyde Park 11040. The Debtor owns and operates a retail business selling salt water marine life, live coral and aquarium product dry goods, which began in May of 2015. LOF Associates Inc. d/b/a Pets Aquatic filed a Chapter 11 petition (Bankr. E.D.N.Y. Case No. 16-74448), on September 28, 2016, disclosing under $1 million in both assets and liabilities. The petition was signed by Alan Glassberg, president. The Debtor is represented by Anthony F. Giuliano, Esq. at Pryor & Mandelup. LPL HOLDINGS: S&P Revises Outlook to Stable & Affirms 'BB-' ICR --------------------------------------------------------------- S&P Global Ratings said it revised its outlook on LPL Holdings Inc. to stable from negative. At the same time, S&P Global Ratings affirmed its 'BB-' long-term issuer credit rating on LPL. S&P Global Ratings also affirmed its 'BB-' senior secured debt ratings on the company's revolving credit facility and term loan B. Finally, S&P Global Ratings assigned its 'B+' rating to the company's new $500 million senior unsecured notes. "The outlook revision and affirmation reflect what we view as an improved funding and liquidity profile following the transaction as well as our expectation of stable leverage," said S&P Global Ratings credit analyst Daniel Koelsch. LPL is planning to raise a $1,700 million term loan B due in 2024, upsize its existing $400 million revolving credit facility due 2022 to $500 million, and issue $500 million in senior unsecured notes due 2025. It will use the proceeds to repay all existing term loans A and B. Total debt before and after the proposed transaction will be approximately $2.2 billion and as such, will be leverage and ratings neutral. Pro forma total leverage is expected to remain at 3.4x (measured as per the credit agreement). By lengthening the average maturity of LPL debt and increasing liquidity by almost $100 million, the transaction will improve the funding and liquidity profile in S&P's view, at a moderate increase to the company's cost of debt. The company managed to reduce leverage this year through improved performance and disciplined expense management. S&P now expects that LPL will maintain a more substantial cushion above the debt to EBITDA leverage covenant limit of 5x of its new revolving facility. Specifically, S&P expects leverage will remain below 3.50x given the firm's improved performance and management's stated target range of 3.25-3.50x. Leverage by this calculation was 3.4x at year-end 2016. While LPL's earnings can be influenced by market conditions, S&P expects that performance should be supported by recent recruiting efforts, disciplined expense management, and the benefit of recent and potential future interest rate increases. Furthermore, S&P believes that the company has already digested most Department of Labor fiduciary rule-related revenue impact (in terms of additional compliance and regulatory costs or lower commissions from high-margin products such as alternative funds and life annuities) and is likely to benefit from any potential easing in regulation in that respect. S&P's ratings on LPL continue to be based on its solid retail business, which generates strong earnings, as well as its adequate liquidity and aggressive financial management, including high leverage and negative tangible equity, albeit with modest credit and market risk. The stable outlook reflects S&P Global Ratings' view that leverage over the next 12 months as defined in LPL's credit agreement will remain below 3.5x. S&P expects the firm to be prudent in its use of excess cash for stock buybacks and to maintain adequate liquidity, including on-balance-sheet cash of at least $300 million. S&P could lower its issuer credit rating over the next 12-to-24 months if S&P expects leverage (as measured by the company's credit agreements) to be above 4x. S&P could also downgrade the company if its gross stable funding ratio or liquidity coverage metric were to fall below 100%, or liquidity otherwise deteriorated materially. Finally, S&P would also consider a negative rating action if LPL were to become more aggressive in its financial policies such as significant share buybacks. The firm's aggressive financial management continues to limit near-term upside rating potential. Although LPL has recently slowed the pace of its share repurchases, we expect them to pick up. Beyond S&P's outlook horizon, it could raise its ratings if the company were to commit to maintaining stronger liquidity and building capital. LUNDIN MINING: Moody's Hikes Corporate Family Rating to Ba3 ----------------------------------------------------------- Moody's Investors Service upgraded Lundin Mining Corporation's Corporate Family (CFR) rating to Ba3 from B1, Probability of Default Rating to Ba3-PD from B1-PD and senior secured note ratings to Ba3 from B1. Lundin's Speculative Grade Liquidity Rating (SGL) was changed to SGL-1 from SGL-2. The rating outlook remains stable. "Lundin's ratings upgrade is driven by its ability to generate positive free cash flow and maintain leverage under 2x, because of continued stable production at its four mines and improvements in the price of zinc, copper and nickel", said Jamie Koutsoukis, Moody's Vice President, Senior Analyst. Upgrades: Issuer: Lundin Mining Corporation -- Probability of Default Rating, Upgraded to Ba3-PD from B1-PD -- Speculative Grade Liquidity Rating, Upgraded to SGL-1 from SGL-2 -- Corporate Family Rating, Upgraded to Ba3 from B1 -- Senior Secured Regular Bond/Debenture, Upgraded to Ba3(LGD4) from B1(LGD4) Outlook Actions: Issuer: Lundin Mining Corporation -- Outlook, Remains Stable RATINGS RATIONALE Lundin's Ba3 CFR is driven by its moderate scale and limited mine diversity, with a concentration of cash flows at its two largest mines. Lundin's Candelaria and Eagle mines accounted for over 75% of Lundin's operating earnings in 2016, exposing the company to potential material reductions in cash flows should either site encounter operational issues. However the rating is favorably influenced by Lundin's conservative financial policies, including Moody's expectations that its free cash flow will remain positive despite an increased capital spend program in 2017, its multi-metal exposure, good cost position of its key mines, and favorable overall geopolitical risk profile. Lundin's already large cash balance ($715 million at Q4/16) is expected to grow to about $1.8 billion once it closes the sale of its interest in Tenke. This will allow the company to execute prospective acquisitions of new assets or projects, or further invest in its existing assets while maintaining its current financial profile. Alternatively with call dates of November 2017 on its notes due 2020, and November 2018 on its notes due 2022, Lundin has the flexibility to reduce its debt. Lundin's liquidity is excellent (SGL-1), consisting of US$715 million of cash and almost full availability under its US$350 million revolving credit facility (matures October June 2020) as of December 31, 2016. Lundin is also scheduled to receive over $1 billion from the sale of its interest in Tenke which is expected to close in the first half of 2017. Moody's expects Lundin will remain free cash flow positive through 2017 and 2018 and maintain good headroom to bank maintenance covenants. Lundin has minimal current debt maturities. Most of its debt matures in 2020 ($550 million) and 2022 ($445 million). The stable ratings outlook reflects Moody's expectations that Lundin will continue to generate positive cash flow over the next two years, while maintaining its conservative financial policies. It also assumes that the redeployment of the company's sizable cash balance will not cause a deterioration in credit metrics. Lundin's CFR could be upgraded if the company is able to maintain adjusted debt/EBITDA below 2.5x and continue to generate positive free cash flow. An upgrade would also require clarity regarding Lundin's planned use of it large cash balance. Lundin's rating could be downgraded if the company incurred operating challenges at Candelaria or Eagle, leading to expectations of materially lower cash flows or if leverage is expected to be sustained above 4x. Headquartered in Toronto, Ontario, Lundin wholly-owns an underground copper/ zinc mine in Portugal (Neves-Corvo), an underground zinc/ lead mine in Sweden (Zinkgruvan), and an underground nickel/ copper mine in the USA (Eagle). It also owns 80% of the Candelaria copper mine in Chile. Lundin's revenues were $1.5 billion in 2016. The principal methodology used in these ratings was Global Mining Industry published in August 2014. LUVU BRANDS: Posts $399,000 Net Income for Second Quarter --------------------------------------------------------- Luvu Brands, Inc., filed with the Securities and Exchange Commission its quarterly report on Form 10-Q disclosing net income of $399,000 on $5.13 million of net sales for the three months ended Dec. 31, 2016, compared to net income of $224,000 on $4.88 million of net sales for the three months ended Dec. 31, 2015. For the six months ended Dec. 31, 2016, the Company reported net income of $222,000 on $9.23 million of net sales compared to net income of $2,000 on $8.60 million of net sales for the same period a year ago. As of Dec. 31, 2016, Luvu Brands had $4.35 million in total assets, $6.54 million in total liabilities and a total stockholders' deficit of $2.19 million. As of Dec. 31, 2016, the Company has an accumulated deficit of approximately $8,988,000 and a working capital deficit of approximately $2,042,000. This, the Company said, raises substantial doubt about its ability to continue as a going concern. "In view of these matters, realization of a major portion of the assets in the accompanying balance sheet is dependent upon continued operations of the Company, which in turn is dependent upon our ability to meet our financing requirements, and the success of our future operations. Management believes that actions presently being taken to revise our operating and financial requirements provide the opportunity for the Company to continue as a going concern. "These actions include an ongoing initiative to increase sales, gross profits and our gross profit margin. To that end, at the end of fiscal 2016, we evaluated various options for increasing the throughput of our compressed foam products and during the first quarter of fiscal 2017 we purchased new equipment for installation during the second quarter of fiscal 2017. The conveyor sewing system for Jaxx and Avana products was expanded during October, 2016 and the roll pack equipment for use with the majority of our compressed products was delivered during the first week of January, 2017. These investments in equipment should yield higher gross profit as a result of the lower cost of goods sold. We also plan to continue to manage discretionary expense levels to be better aligned with current and expected revenue levels. We estimate that the operational and strategic growth plans we have identified over the next 12 months will require approximately $200,000 of funding, of which we estimate will be provided by debt financing and, to a lesser extent, cash flow from operations as well as cash on hand." A full-text copy of the Form 10-Q is available for free at: https://is.gd/7GVpTp About Luvu Brands Luvu Brands, Inc., formerly known as Liberator, Inc., is a U.S.-based manufacturer that has built several brands in the wellness, lifestyle and casual furniture and seating categories. Its brands are headquartered in Atlanta in a 140,000 square foot manufacturing facility. Luvu Brands reported a net loss of $312,000 on $16.8 million of net sales for the year ended June 30, 2016, compared to a net loss of $474,000 on $15.6 million of net sales for the year ended June 30, 2015. Liggett & Webb, P.A., in Boynton Beach, Florida, issued a "going concern" qualification on the consolidated financial statements for the year ended June 30, 2016, citing that the Company has a net loss of $312,000, a working capital deficiency of $2.4 million, and an accumulated deficit of $9.2 million. These factors raise substantial doubt about the Company's ability to continue as a going concern. M.O.R. PRINTING: Hires Van Horn Law Group as Counsel ---------------------------------------------------- M.O.R. Printing, Inc., seeks authority from the U.S. Bankruptcy Court for the Southern District of Florida to employ Van Horn Law Group, P.A., as counsel to the Debtor. M.O.R. Printing requires Van Horn to: a. give advice to the Debtor with respect to its powers and duties as a Debtor-in-possession and the continued management of its financial matters and business operations; b. advise the Debtor with respect to its responsibilities in complying with the U.S. Trustee's Operating Guidelines and Reporting Requirements and with the rules of the court; c. prepare motions, pleadings, orders, applications, adversary proceedings, and other legal documents necessary in the administration of the case; d. protect the interest of the Debtor in all matters pending before the bankruptcy Court; and e. represent the Debtor in negotiations with its creditors in the preparation of a plan. Van Horn will be paid at these hourly rates: Partners $400 Associates $300 Paralegals $175-$185 Van Horn will be paid a retainer in the amount of $20,000, plus filing fee of $1,717. Van Horn will also be reimbursed for reasonable out-of-pocket expenses incurred. Chad T. Van Horn, a member of Van Horn 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. Van Horn can be reached at: Chad T. Van Horn, Esq. VAN HORN LAW GROUP, P.A. 330 N. Andrews Avenue, Suite 450 Fort Lauderdale, FL 33301 Tel: (954) 765-3166 E-mail: Chad@cvhlawgroup.com About M.O.R. Printing M.O.R. Printing, Inc., based in Fort Lauderdale, FL, filed a Chapter 11 petition (Bankr. S.D. Fla. Case No. 17-11570) on February 8, 2017. The Hon. John K Olson presides over the case. In its petition, the Debtor estimated $0 to $50,000 in assets and $1 million to $10 million in liabilities. The petition was signed by Owen Luttinger, president. MICHIGAN SPORTING: Taps Berkeley Research as Financial Advisor -------------------------------------------------------------- Michigan Sporting Goods Distributors, Inc. seeks approval from the U.S. Bankruptcy Court for the Western District of Michigan to hire a financial advisor. The Debtor proposes to hire Berkeley Research Group, LLC to provide these financial advisory services: (a) review, forecast and analyze the Debtor's business operations and financial projections; (b) assist in the restructuring planning, including recommendations to improve cash flow; and (c) assist the Debtor in its negotiations with trade vendors and other key creditor constituencies, to address its liquidity constraints and reach an out-of-court financial restructuring. The hourly rates charged by the firm are: Managing Director $825 - $975 Director $735 - $775 Professional Staff $295 - $645 Support Staff $125 - $250 Steve Coulombe, managing director of Berkeley, disclosed in a court filing that the firm is a "disinterested person" as defined in section 101(14) of the Bankruptcy Code. The firm can be reached through: Steve Coulombe Berkeley Research Group, LLC 2200 Powell Street, Suite 1200 Emeryville, CA 94608 Phone: 510-285-3300 Fax: 510-654-7857 About Michigan Sporting Goods Distributors Michigan Sporting Goods Distributors, Inc. is a retail sporting goods chain based in Grand Rapids, Michigan. The Debtor 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. No trustee, examiner or committee has been appointed in the case. MONTAQUE CAPITAL: Liquidators Seek Payment of Fees & Costs ---------------------------------------------------------- The Joint Official Liquidators of Montaque Capital notify all Customers and Creditors at Montaque Capital Partners Ltd. (In Liquidation) that they have applied to the Supreme Court of the Bahamas for Court approval of the payment of the Liquidators' remuneration and costs for the period Feb. 1, 2014, to April 30, 2016. The Summons by which the application is made and the Eighth Affidavit at Edmund L. Rahming setting out the costs may be accessed on the website: http://www.mcp-liquidation.com. The Liquidators' application will be heard by His Lordship the Honourable Mr. Justice Ian Winder Justice of the Supreme Court in Chambers on March 13, 2017 at 9:00 p.m. If you intend to appear on the hearing of the Liquidators' application you will need to file at the Supreme Court Registry a Memorandum of Appearance or one of the forms shown on the website depending on whether you are claiming a debt owed to you (Creditor's Appearance) or that the Company is holding assets beneficially owned by you (Customer's Appearance). The Memorandum needs to be filed and served on the Liquidators or their Attorneys, Lennox Paton, no later than 4:00 p.m. on March 9, 2017. If you are a customer or creditor of the Company and you need any further information or clarification in regard to the application, please contact the Liquidators: Messrs. Kenneth Krys and Edmund L. Rahming The Joint Official Liquidators of Montaque Capital Partners Ltd. (In Liquidation) Intelisys 15 Caves Professional Center, Caves Village Nassau, The Bahamas Tel (242) 327-4001/3 Website: http:///www.intelisysltd.com NATURAL RESOURCE: Moody's Assigns Caa2 Rating to New Senior Notes ----------------------------------------------------------------- Moody's Investors Service assigned Caa2 rating to the new Senior Notes due 2022, proposed by Natural Resource Partners LP. At the same time, Moody's changed the outlook on the ratings to positive from negative, and affirmed the existing ratings, including the Corporate Family Rating (CFR) of B3 and Probability of Default Rating (PD) of B3-PD. Moody's changed the Speculative Grade Liquidity rating to SGL-2 from SGL-3. The rating actions follow the company's announcement on Feb. 23, 2017 that it will issue $250 million of a new class of preferred units representing limited partner interests in NRP, and that certain holders of NRP's 9.125% Senior Notes due 2018 (the "2018 Notes") will exchange $241 million of their notes for a new series of 10.50% Senior Notes due 2022 (the "2022 Notes") and will invest in an additional $105 million of the 2022 Notes. In addition, NRP Operating LLC's revolving credit facility will be extended to April 2020, with commitment reductions to $180 million at closing, $150 million at December 31, 2017, and $100 million at December 31, 2018 until maturity. The proceeds of the offering will be used to repay the $210 million currently outstanding under the revolver, repay $90 million of 2018 notes at closing, and the remaining $94 million in October 2017. Issuer: Natural Resource Partners L.P. Affirmations: -- Corporate Family Rating, Affirmed B3 -- Probability of Default Rating, Affirmed B3-PD Upgrades: -- Speculative Grade Liquidity Rating, Upgraded to SGL-2 from SGL-3 Assignments: -- Senior Unsecured Regular Bond/Debenture, Assigned Caa2 (LGD5) Outlook Actions: -- Outlook, Changed To Positive From Negative RATINGS RATIONALE The change in outlook to positive reflects the expected reduction in the company's debt, in line with the company's strategy to deleverage the company, enhance liquidity and extend maturities. Moody's expects that Debt/ EBITDA as adjusted will trend from 4.0x as of September 30, 2016 to 3.0x by the end of 2017. The B3 corporate family rating continues to reflect NRP's substantive coal reserve base, and increasing diversification of the company's business model into soda ash, and construction aggregates. The ratings also reflect the risks surrounding future limited partner distributions, and uncertainties regarding any future asset sales that the company may undertake to pare down leverage. At the same time, the ratings reflect concentration in US coal business, which is experiencing ongoing secular decline. The ratings reflect Moody's stable outlook on US coal industry. Although the industry continues to face challenges, coal producers have received much needed relief with metallurgical coal benchmark prices surging above $200/tonne and natural gas prices hovering around $3.00/ million British thermal units (MMBtu). Although the US presidential election results increase uncertainty around the direction of government energy policies, domestic coal consumption will remain under pressure over the long term. Natural gas and renewables will capture an increasing share of the nation's fuel mix, smaller and less efficient coal plants will continue to be retired and coal's share of the nation's overall energy consumption will likely drop to the mid-20% range within a decade, from about 30% now. The Speculative Grade Liquidity rating of SGL-2 reflects Moody's expectations that the company will have good liquidity over the next twelve months. As of September 30, 2016, the company had $92.4 million of cash and cash equivalents. Pro-forma for the proposed transaction, the company will have full availability under the NRP Operating revolving credit facility maturing in April 2020. Moody's expects the company to generate sufficient operating cash flows to finance its MLP distributions. Moody's expects the company to be in compliance with the revolver's financial covenants. The Caa2 rating on the senior unsecured notes issued by Natural Resource Partners LP reflects their effective subordination relative to the company's revolver, and debt located at the NRP operating subsidiary. A positive rating action would be considered if Debt/ EBITDA, as adjusted, were expected to be maintained below 3.5x. A negative rating action would be considered if liquidity were to deteriorate or if Debt/ EBITDA, as adjusted, were to increase above 6x. The principal methodology used in these ratings was Global Mining Industry published in August 2014. Natural Resource Partners L.P. is a limited partnership formed in April 2002 and is headquartered in Houston, Texas. NRP engages principally in the business of owning, managing and leasing a diversified portfolio of mineral properties in the United States, including interests in coal, trona and soda ash, construction aggregates, frac sand and other natural resources. For the twelve months ended September 30, 2016 the company generated roughly $460 million in revenues. NORTH ATLANTIC: S&P Withdraws 'B' CCR After Repayment ----------------------------------------------------- S&P Global Ratings affirmed its 'B' corporate credit rating on Louisville, Ky.-based North Atlantic Trading Co. Inc. (NATC). The outlook is stable. S&P subsequently withdrew the rating at the company's request. S&P also withdrew its issue-level ratings on NATC's senior secured first-lien and second-lien term loans due 2020 following repayment. The withdrawal reflects the completion of the refinancing transaction of NATC's parent company, Turning Point Brands, which resulted in the repayment of NATC's first-lien and second-lien term loans due 2020. NORTHSTAR OFFSHORE: Seeks to Hire Moyes & Co. as Consultant ----------------------------------------------------------- Northstar Offshore Group, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas to hire Moyes & Co., a natural resources consulting firm. The Debtor proposes to hire the firm in order to have an expert that could derive a fair market value of its oil and gas assets from reserve reports available. P. Dee Patterson, managing director of Moyes & Co., will be paid $395 per hour while the firm's engineering staff will be paid $275 per hour. Moyes & Co. does not have any interest adverse to the Debtor's bankruptcy estate or creditors, and is a "disinterested person" as defined in section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached through: P. Dee Patterson Moyes & Co. 8235 Douglas Avenue, Suite 1221 Dallas, TX 75225 Phone: 214-623-6700 Fax: 214-623-6799 About Northstar Offshore Group Northstar Offshore Group, LLC is an independent oil and gas exploration and production company that focuses on acquisition and recompletion, development drilling, and low-risk exploration in the waters of the Gulf of Mexico. Three creditors filed an involuntary Chapter 11 petition against Northstar Offshore Group on August 12, 2016. The petitioning creditors are Montco Oilfield Contractors, LLC, Alliance Offshore, LLC, and Alliance Energy Services, LLC. The creditors are represented by DLA Piper (US) LLP. On December 2, 2016, the Debtor agreed to convert the involuntary case to a voluntary case by filing a voluntary Chapter 11 petition (Bankr. S. D. Texas Case No. 16-34028). On December 19, 2016, the Office of the U.S. Trustee appointed an official committee of unsecured creditors. The committee hired DLA Piper LLP as legal counsel, and FTI Consulting, Inc as financial advisor. OLDCO LLC: Hires Covington & Burling as Special Insurance Counsel ----------------------------------------------------------------- OldCo, LLC, seeks authority from the U.S. Bankruptcy Court for the Western District of North Carolina to employ Covington & Burling LLP as special insurance counsel. OldCo, LLC, requires Covington & Burling to represent the Debtor in matters related to insurance coverage, rights, and obligations, and in particular, those matters which relate to the resolution of Coltec Asbestos Claims in the Coltec Bankruptcy Case. Covington & Burling will be paid at these hourly rates: Attorneys $365 to $1,700 Paralegals $220 to $405 The Debtor paid Covington & Burling the amount of $191,014 between January 2016 and January 2017. The Debtor has not paid a retainer to Covington & Burling. Covington & Burling will also be reimbursed for reasonable out-of-pocket expenses incurred. William F. Greaney, member of Covington & Burling, 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. Covington & Burling can be reached at: William F. Greaney, Esq. COVINGTON & BURLING LLP 850 Tenth Street, NW Washington, DC 20001 Tel: (202) 662-6000 About OldCo, LLC OldCo, LLC, formerly known as Coltec Industries, Inc., based in Charlotte, N.C., manufactures and distributes aerospace and industrial products in the United States, Canada, and Europe. It filed a Chapter 11 bankruptcy petition (Bankr. W.D.N.C. Case No. 17-30140) on Jan. 30, 2017. The petition was signed by Joseph Wheatley, president and treasurer. Bankruptcy Judge Craig J. Whitley is assigned to the case. The Debtor is represented by Daniel Gray Clodfelter, Esq. and William L. Esser, IV, Esq., at Parker Poe Adams & Bernstein LLP. The Debtor also hired David M. Schilli, Esq., and Andrew W.J. Tarr, Esq., at Robinson, Bradshaw & Hinson, P.A. as special corporate & litigation counsel; Rust Consulting/Omni Bankruptcy as claims, notice & ballot agent. In its petition, the Debtor estimated $100 million to $500 million in both assets and liabilities. ONE BREWERY: Hires Howard Hanna as Real Estate Broker ----------------------------------------------------- One Brewery Place, Inc., seeks authority from the U.S. Bankruptcy Court for the Western District of Pennsylvania to employ Howard Hanna Real Estate Services as real estate broker to the Debtor. One Brewery requires Howard Hanna to market and sell the Debtor's real estate located at 25 New York Avenue, Rochester, PA 15074. Howard Hanna will be paid a commission of 10% of the gross selling price. Hall Martin, member of Howard Hanna Real Estate Services, 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. Howard Hanna can be reached at: Hall Martin HOWARD HANNA REAL ESTATE SERVICES 1601 Third Street Beaver, PA 15009 Tel: (724) 775-5700 About One Brewery Place One Brewery Place, Inc. is the owner of a real estate located in Pennsylvania, which is being rented by Beaver Valley Bowling, Inc. The Debtor sought protection under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Penn. Case No. 16-22314) on June 23, 2016, disclosing under $1 million in both assets and liabilities. The Debtor is represented by Brian Thompson, Esq., at Thompson Law Group. OYSTER COMPANY: Creditors' Panel Hires Christian as Counsel ----------------------------------------------------------- The Official Committee of Unsecured Creditors of Oyster Company of Virginia, LLC, seeks authorization from the U.S. Bankruptcy Court for the Eastern District of Virginia to retain Christian & Barton, LLP, as counsel. The Committee requires Christian to: a. assist, advise and represent the Committee in its consultations with the Debtor regarding the administration of the Chapter 11 Case; b. assist, advise and represent the Committee in analyzing the Debtor's assets and liabilities, investigating the extent and validity of liens and participating in and reviewing any proposed asset sales, any asset dispositions, financing arrangements and cash collateral stipulations or proceedings; c. assist, advise and represent the Committee in any manner relevant to reviewing and determining the Debtor's rights and obligations under leases and other executor contracts; d. assist, advise and represent the Committee in investigating the acts, conduct, assets, liabilities and financial condition of the Debtor, the Debtor's operations and the desirability of the continuance of any portion of those operations, and any other matters relevant to the bankruptcy case or to the formulation of a plan; e. assist, advise and represent the Committee in its participation in the negotiation, formulation and draft of a plan of liquidation or reorganization; f. advise the Committee on the issues concerning the appointment of a trustee or examiner under Section 1104 of the Bankruptcy Code; g. assist, advise and represent the Committee in the evaluation of claims and on any litigation matters, including avoidance actions; h. assist, advise and represent the Committee in understanding its powers and its duties under the Bankruptcy Code and the Bankruptcy Rules and in performing such other services as are in the interests of those represented by the Committee; and i. perform all other necessary legal services in the Chapter 11 Case. Christian will be paid at these hourly rates: Partners $370 Associates $235 Paralegals $160 Christian will also be reimbursed for reasonable out-of-pocket expenses incurred. Jennifer M. McLemore, member of Christian & Barton, 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. Christian can be reached at: Jennifer M. McLemore, Esq. CHRISTIAN & BARTON, LLP 909 East Main Street, Suite 1200 Richmond, VA 23219-3095 Tel: (804) 697-4100 Fax: (804) 697-6112 About Oyster Company of Virginia, LLC A Chapter 7 involuntary petition was filed against Oyster Company of Virginia, LLC (Bankr. E. D. Va. Case No. 16-34750) on Sept. 27, 2016. The petition was filed by Jeffrey and Eleanor Orndorff, Chandler Wiegand, and Half Shell Partners, LLC. On Nov. 4, 2016, the Chapter 7 case was converted to a Chapter 11 case. The case is assigned to Judge Keith L. Phillips. The U.S. trustee for Region 4 on Dec. 23, 2016, appointed seven creditors of Oyster Company of Virginia, LLC, to serve on the official committee of unsecured creditors. The Committee retained Christian & Barton, LLP, as counsel. PADCO PRESSURE: Seeks to Hire Colvin Smith as Special Counsel ------------------------------------------------------------- PADCO Energy Services, LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Louisiana to hire a special counsel to handle litigation against Case Energy Services, LLC. The Debtor proposes to hire Colvin, Smith & McKay, and pay a reduced hourly fee of $125 to its attorneys and $75 to the firm's paralegals. The firm will also receive a contingency fee of 20% of any gross amount recovered. Colvin Smith does not hold or represent any interest adverse to the Debtor's bankruptcy estate, according to court filings. The firm can be reached through: James H. Colvin, Jr., Esq. Colvin, Smith & McKay 900 Market Street, Suite 300 Shreveport, LA 71101 Phone: (318) 429-6770 Fax: (318) 429-6771 Email: jcolvin@colvinfirm.com About PADCO Pressure PADCO Pressure Control, L.L.C., based in Lafayette, LA, filed a Chapter 11 petition (Bankr. W.D. La. Case No. 16-51381) on October 4, 2016. The Hon. Robert Summerhays presides over the case. Thomas E. St. Germain, member of Weinsten & St. Germain, LLC, as bankruptcy counsel. In its petition, the Debtor estimated $0 to $50,000 in assets and $1 million to $10 million in liabilities. The petition was signed by Michael Carr, chief executive officer. No official committee of unsecured creditors has been appointed in the case. PFO GLOBAL: Seeks to Hire Mahesh Shetty as Financial Officer ------------------------------------------------------------ PFO Global, Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of Texas to hire a financial officer in connection with its Chapter 11 case. The Debtor proposes to hire Mahesh Shetty, a certified public accountant, to serve as its principal financial officer as well as management and financial consultant until the contemplated sale of its assets is accomplished. The services to be provided by Mr. Shetty include preparing SEC reports, reviewing monthly financial statements, and assisting the chief executive officer in analyzing business opportunities, cost controls and cash management. Mr. Shetty will be paid a fixed monthly salary of $25,000, and will be reimbursed for work-related expenses. In a court filing, Mr. Shetty disclosed that he has no connection with the Debtor or any of its creditors. Mr. Shetty maintains an office at: Mahesh S. Shetty 2708 Arbor Court Richardson, TX 75082 About PFO Global PFO Global, Inc., and five of its wholly-owned subsidiaries filed Chapter 11 petitions (Bankr. N.D. Tex. Lead Case No. 17-30355) on January 31, 2017. The Debtors are represented by Rosa R. Orenstein, Esq. and Nathan M. Nichols, Esq., at Orenstein Law Group, P.C. On February 21, 2017, the Office of the U.S. Trustee appointed an official committee of unsecured creditors. The Debtors are a consolidated group of companies that operate in the eyewear and lenses industry worldwide. Global owns 100% of the equity interests in Holding. In turn, Holding owns 100% of the equity interests in Optix, Technologies, Optima and MCO. Global is headquartered in Farmers Branch, Texas where primarily all corporate functions are performed as well as the support, sales and warehousing for all MCO and Technologies' products and services. Global, a publicly traded company, manufactures and delivers complete eyewear, prescription lenses and related services to the managed care insurance industry, which services the Medicaid and Medicare entitlement programs, independent eye care providers and accountable care organizations. Optima distributes distortion free polycarbonate lenses under the Resolution brand name. Technologies focus is on the development of disruptive technologies for the eyewear industry and supports the research and development of the other business units of Global. PFO Global reported a net loss of $15.66 million in 2015 following a net loss of $8.45 million in 2014. As of Sept. 30, 2016, PFO Global disclosed $1.75 million in total assets, $30.96 million in total liabilities and a total stockholders' deficit of $29.21 million. "As of Sept. 30, 2016, the Company had cash of $130,413. As reflected in the accompanying condensed consolidated financial statements, the Company had a net loss of $4,735,782 and net cash and cash equivalents used in operations of approximately $3.01 million for the nine month period ended September 30, 2016. The Company has a working capital deficit of approximately $23 million and stockholders' deficit of approximately $29 million as of Sept. 30, 2016. These factors raise substantial doubt about the Company's ability to continue as a going concern," the Company stated in its quarterly report for the period ended Sept. 30, 2016. PHYSICIANS REALTY: S&P Assigns 'BB+' CCR; Outlook Positive ---------------------------------------------------------- S&P Global Ratings assigned a 'BB+' corporate credit rating to Milwaukee-based Physicians Realty Trust (DOC). The outlook is positive. "The positive outlook acknowledges our view that DOC has been able to significantly grow its portfolio in a leverage-neutral manner, and its scale is approaching the level of key peers Healthcare Realty Trust and Healthcare Trust of America. The company's medical office buildings (MOBs) are fairly young and well-occupied (96.1% leased at Dec. 31, 2016), with good geographic diversity," said credit analyst Michael Souers. "We believe management remains committed to a conservative financing strategy, and we expect future investments to continue to be funded with a sizable equity component." S&P's positive outlook on DOC reflects S&P's expectation that the company will continue to rapidly grow its portfolio, largely financed with equity capital. S&P do not believe the potential repeal of, or modifications to, the Affordable Care Act will have a significant adverse impact on MOB performance given the stable rental income, so S&P expects DOC will continue to generate stable cash flows with limited tenant stress. S&P projects the company will operate with debt to EBITDA (on a trailing twelve month basis) of around 6.0x, with debt/undepreciated capital in the mid-30% area, over the next two years. S&P could raise the rating if the company successfully executes the growth strategy for its portfolio, funding growth with significant equity issuance, while simultaneously maintaining strong performance from the recently assembled core portfolio. An upgrade would likely be contingent on the company growing its scale to a level nearing its higher-rated MOB peers Healthcare Realty Trust and Healthcare Trust of America, while continuing to deliver stable cash flow growth and modest improvement in credit metrics. S&P could revise the outlook back to stable if DOC pursues debt-financed expansion in 2017 that results in debt to EBITDA remaining in the mid- to high-6x area. S&P could also lower the outlook back to stable if it believes government legislation or regulatory changes threaten the cash flow stability of MOBs. PRA HOLDINGS: Moody's Hikes Corporate Family Rating to Ba3 ---------------------------------------------------------- Moody's Investors Service upgraded the Corporate Family Rating (CFR) and Probability of Default Rating (PDR) of PRA Holdings, Inc., to Ba3 and Ba3-PD from B1 and B1-PD, respectively. Moody's also upgraded the rating on the company's unsecured notes to B2 from B3. At the same time, Moody's affirmed the Speculative Grade Liquidity Rating of SGL-1. The outlook on all ratings remains positive. Moody's also assigned a Ba3 rating to new senior secured bank credit facilities at Pharmaceutical Research Associates, Inc. following a refinancing of its previous credit facilities. Moody's also revised the issuer name on the unsecured notes to reflect the correct borrower name, PRA Holdings, Inc., rather than the ultimate parent company, PRA Health Sciences, Inc. PRA Holdings and Pharmaceutical Research Associates are subsidiaries of parent company PRA Health Sciences, Inc. Moody's is now displaying the CFR and PDR under the name of PRA Holdings. The analysis underlying the CFR and PDR continues to encompass the same entities within the issuer family as before. The upgrade of the CFR to Ba3 reflects PRA Holdings' steady improvement in credit metrics. These include debt/EBITDA declining to below 3.5x in 2016. Moody's expects leverage to further decline towards 3x over the next twelve months. Through strong growth and operating performance, PRA Holdings has achieved significant scale as a leading contract research organization (CRO) with net service revenues likely to exceed $1.8 billion in 2017. The positive outlook reflects Moody's expectation that PRA Holdings will continue to exhibit double digit organic earnings growth due to favorable industry fundamentals and strong business execution. It also reflects Moody's expectation for further debt reduction using free cash flow. PRA Holdings, Inc. Ratings upgraded: Corporate Family Rating to Ba3 from B1 Probability of Default Rating to Ba3-PD from B1-PD $91 million (outstanding) senior unsecured notes to B2 (LGD 6) from B3 (LGD 6) Ratings affirmed: Speculative Grade Liquidity Rating at SGL-1 Ratings assigned: Pharmaceutical Research Associates, Inc. $125 million senior secured revolving credit facility at Ba3 (LGD 3) $625 million senior secured term loan at Ba3 (LGD 3) PRA Holdings, Inc and Pharmaceutical Research Associates, Inc. The outlook on all credit ratings is positive. RATINGS RATIONALE The Ba3 Corporate Family Rating is supported by the company's track record of delivering mid-teens revenue growth. The company has good size and scale with service revenues above $1.6 billion. Favorable industry-wide dynamics will help support healthy earnings growth and deleveraging in 2017. Moody's believes credit metrics will continue to improve, including debt/EBITDA to under 3 times over the next twelve months. Kohlberg Kravis Roberts & Co. (KKR) still holds a sizeable stake in PRA Holdings' equity, however, its share has come down to under 40%, reducing the risk of shareholder friendly initiatives. Constraining PRA Holdings' ratings are the risks inherent in the Contract Research Organization (CRO) industry. These include pricing pressure, volatility in biotech funding, and project cancellations. In addition, PRA Holdings competes with a relatively small number of large CRO players for clinical development work. PRA Holdings' rapid growth and new joint venture with Takeda Pharmaceutical requires considerable hiring or retraining of staff. This could lead to margin pressures if revenues do not materialize in step with staffing growth. In addition, it can be challenging to locate and train sufficient staff for its global operations. The positive rating outlook reflects Moody's expectation for continued credit metric improvement, including continued deleveraging towards 3.0x over the next 12 to 18 months. The senior secured credit facilities issued by Pharmaceutical Research Associates consist of a $625 million term loan and a $125 million bank revolving credit facility. The facilities are rated Ba3 (LGD3), the same as the Ba3 CFR, as they constitute the preponderance of debt in the capital structure. The facilities benefit from modest first loss cushion provided by $91 million of unsecured notes, rated B2 (LGD 6). The credit facilities are secured by a first priority interest in substantially all tangible and intangible assets of the US subsidiaries and a 66% stock pledge of foreign subsidiaries. The credit facilities are guaranteed by PRA Health Sciences, the parent company. The borrower under the credit facilities is Pharmaceutical Research Associates, a subsidiary of PRA Health Sciences, Inc. Moody's could upgrade the ratings if PRA Holdings continues to grow organically and if Moody's expects debt to EBITDA to be sustained below 3.0 times. The ratings could be downgraded if Moody's expects operating performance to deteriorate, or for PRA to pursue large debt funded acquisitions, share repurchases, or dividends. Specifically, Moody's could downgrade the ratings if it expects debt to EBITDA to be sustained above 4.0 times. PRA Holdings, Inc., a subsidiary of PRA Health Sciences, Inc. is a contract research organization that assists pharmaceutical and biotechnology companies in developing and gaining regulatory approvals for drug compounds. PRA generated net service revenues of approximately $1.6 billion for the twelve months ended December 31, 2016. PRA is publicly traded but continues to be partially owned by KKR. The principal methodology used in these ratings was Business and Consumer Service Industry published in October 2016. PRESIDENTIAL FUNERAL: Hires Keech as Attorney --------------------------------------------- Presidential Funeral Homes of Arkansas, Inc., seeks authority from the U.S. Bankruptcy Court for the Eastern District of Arkansas to employ Keech Law Firm, PA, as counsel to the Debtor. Presidential Funeral requires Keech to: a. represent the Debtor with regard to the filing of the Chapter 11 petition and schedules and in the prosecution of the Chapter 11 case with respect to Debtor's powers and duties as a Debtor-in-Possession; and b. perform all legal services for the Debtor which may be necessary in connection with the Debtor's Chapter 11 case. Keech will be paid at these hourly rates: Kevin P. Keech, Partner $315 Allison R. Gladden, Partner $275 Associates $195 Paralegals $140 Legal Assistants $125 Keech will be paid a retainer in the amount of $12,000. Keech will also be reimbursed for reasonable out-of-pocket expenses incurred. Kevin P. Keech, a partner at Keech Law Firm, PA, 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. Keech can be reached at: Kevin P. Keech, Esq. KEECH LAW FIRM, PA 2011 Broadway Avenue Little Rock, AR 72206 Tel: (501) 221-3200 Fax: (501) 221-3201 About Presidential Funeral Homes of Arkansas Presidential Funeral Homes of Arkansas Inc., filed a Chapter 11 bankruptcy petition (Bankr. E.D. Ark. Case No. 17-10314) on Jan. 19, 2017, disclosing under $1 million in both assets and liabilities. PRESIDENTIAL FUNERAL: Hires Snow Tax as Accountant -------------------------------------------------- Presidential Funeral Homes of Arkansas, Inc., seeks authority from the U.S. Bankruptcy Court for the Eastern District of Arkansas to employ Snow Tax and Business Services as accountant to the Debtor. Presidential Funeral requires Snow Tax to: a. prepare financial statements and bankruptcy operating reports; and b. prepare and file state and federal income, use, sales or personal property tax returns. Snow Tax will be paid at the hourly rate of $50. Snow Tax will also be reimbursed for reasonable out-of-pocket expenses incurred. Honsely Snow, member of Snow Tax and Business Services, 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 Tax can be reached at: Honsely Snow SNOW TAX AND BUSINESS SERVICES 11215 Hermitage Road, Suite 202 Little Rock, AR 72211 Tel: (501) 771-1712 About Presidential Funeral Homes of Arkansas Presidential Funeral Homes of Arkansas Inc., filed a Chapter 11 bankruptcy petition (Bankr. E.D. Ark. Case No. 17-10314) on Jan. 19, 2017, disclosing under $1 million in both assets and liabilities. The Debtor is represented by Kevin P. Keech, Esq., at Keech Law Firm, PA. PRESIDIO HOLDINGS: Moody's Puts Ratings on Review for Upgrade ------------------------------------------------------------- Moody's Investors Service placed Presidio Holdings Inc.'s ratings on review for upgrade given the announcement that the company launched an initial public offering of its stock. The company indicated in its filing that it expects to receive net proceeds of over $230 million in a primary offering of its shares, after which funds affiliated with Apollo Global Management will own about 75% of the company. The proceeds of the offering will be applied to reduce debt at Presidio and its subsidiaries and for general corporate purposes. As per Moody's estimates, Presidio's adjusted debt/EBITDA leverage would drop to the low 4.0 times range following the IPO. Affected ratings include Presidio's B2 corporate family rating ("CFR"), its B2-PD probability of default rating and instrument ratings at Presidio and its wholly-owned subsidiary, Presidio LLC. Moody's is correcting its database to reflect that the $150 million subordinate notes due 2023, which were rated Caa1 on February 2, 2015, are in fact senior subordinate notes. RATINGS RATIONALE Moody's review will assess the likelihood of a successful IPO execution and the resulting reduction of the company's debt and ongoing interest expenses in helping the company grow its free cash flow. As well, the review will also address the potential future shareholder return initiatives which may affect further debt reduction. The review is expected to be completed shortly after the IPO's closing. In the event of the review concluding positively, Presidio's CFR would be upgraded by no more than one notch. To the extent the company applies the IPO proceeds to reduce debt as outlined in the IPO documents, there is a possibility that the senior secured and senior unsecured debt ratings will be confirmed, as the company will be removing a large portion of senior subordinated debt, which currently provides ratings lift in the capital structure. The rating could be upgraded if the company executes in its strategy and pays down debt leading to sustainably lower levels of adjusted debt to EBITDA below 4.5 times (after Moody's standard adjustments) while achieving organic revenue growth consistent with industry levels and without pressuring operating margins. Given the review for upgrade, a downgrade is unlikely in the near-term. If the IPO does not succeed, the ratings could be downgraded if the company does not achieve expected revenue and EBITDA growth, from factors that might include weak economic conditions, increased customer churn, poor execution, or heightened competition. In addition, negative rating pressure could arise if adjusted debt to EBITDA rises to and remains above 6.0x or, liquidity weakens which could arise from operating losses, dividend payments, or cash acquisitions without a proportionate increase in EBITDA. A deteriorating relationship with key suppliers, Cisco and EMC especially, could also place downward pressure on the rating. The following summarizes rating actions: Issuer: Presidio Holdings, Inc. -- Corporate Family Rating, Placed on Review for Upgrade, currently B2 -- Probability of Default Rating, Placed on Review for Upgrade, currently B2-PD -- Senior Unsecured Bond/Debenture, Placed on Review for Upgrade, currently B3 (LGD5) -- Senior Subordinated Regular Bond/Debenture, Placed on Review for Upgrade, currently Caa1 (LGD6) Issuer: Presidio LLC -- Senior Secured Bank Credit Facility, Placed on Review for Upgrade, currently B1 (LGD3) Issuer: Presidio LLC and Presidio Holdings, Inc. Outlook Actions: -- Outlook, Changed To Rating Under Review From Stable The principal methodology used in these ratings was Business and Consumer Service Industry published in October 2016. PURE FOODS: Committee Seeks to Hire Blakeley as Legal Counsel ------------------------------------------------------------- The official committee of unsecured creditors of Pure Foods, Inc. seeks approval from the U.S. Bankruptcy Court for the Eastern District of Tennessee to hire legal counsel in connection with its Chapter 11 case. The committee proposes to hire Blakeley LLP to give legal advice regarding its duties under the Bankruptcy Code, negotiate with unsecured creditors, assist in the preparation of a bankruptcy plan, and provide other legal services. The hourly rates charged by the firm are: Scott Blakeley $495 Ronald Clifford $395 Other Associates $295 Law Clerks $145 Paralegals $145 Blakeley does not hold or represent any interest adverse to the Debtor's bankruptcy estate, according to court filings. The firm can be reached through: Ronald A. Clifford, Esq. Scott E. Blakeley, Esq. Blakeley LLP 18500 Von Karman, Suite 530 Irvine, CA 92612 Tel: (949) 260-0616 Fax: (949) 260-0613 About Pure Foods Inc. Pure Foods, Inc., a company based in Atlanta, Georgia, sought protection under Chapter 11 of the Bankruptcy Code (Bankr. E. D. Tenn. Case No. 17-30236) on January 30, 2017. The petition was signed by John P. Frostad, CEO. The case is assigned to Judge Suzanne H. Bauknight. At the time of the filing, the Debtor estimated its assets and debts at $1 million to $10 million. On February 16, 2017, the Office of the U.S. Trustee appointed an official committee of unsecured creditors. RAVENWOOD ENTERPRISES: Hires Radowitz as Attorney ------------------------------------------------- Ravenwood Enterprises seeks authority from the U.S. Bankruptcy Court for the District of New Jersey to employ Bruce W. Radowitz, PA, as attorney to the Debtor. Ravenwood Enterprises requires Radowitz to: a. prepare the Chapter 11 Petition and Plan; and b. attend the 11 U.S.C. Sec. 341(a) meeting of creditors and confirmation hearing. Radowitz will be paid at these hourly rates: Bruce W. Radowitz $300 Law Clerks $85 Paralegals $45 to $90 Radowitz will be paid a retainer in the amount of $3,500, plus $1,710 filing fee. Radowitz will also be reimbursed for reasonable out-of-pocket expenses incurred. Bruce W. Radowitz, a member of the firm, assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtor and its estates. Radowitz can be reached at: Bruce W. Radowitz, Esq. BRUCE W. RADOWITZ, PA 636 Chestnut Street Union, NJ 07036 Tel: (908) 687-2333 E-mail: bradowitz@comcast.net About Ravenwood Enterprises Ravenwood Enterprises filed a Chapter 11 petition (Bankr. D.N.J. Case No. 17-13327) on Feb. 22, 2017, estimating $100,001 to $500,000 in assets and debt. Judge Vincent F. Papalia presides over the case. SAMSON RESOURCES: Exits Chapter 11 Bankruptcy Protection -------------------------------------------------------- Samson Resources Corporation on March 1, 2017, disclosed that the Company and its subsidiaries have emerged from Chapter 11 bankruptcy protection, after satisfying all of the conditions required under its Plan of Reorganization (the "Plan"), which was confirmed by the U.S. Bankruptcy Court for the District of Delaware on February 13, 2017. Under the Plan, substantially all of SRC's remaining assets, including its subsidiaries, were transferred to Samson Resources II, LLC ("Samson II" or the "Company"). The majority of the equity in Samson II was distributed to SRC's second lien lenders, both on account of their claims in the bankruptcy and in connection with a $60 million rights offering. In addition, Joseph A. Mills has been officially appointed by the new Board of Directors as Samson II's President and Chief Executive Officer, succeeding Andrew Kidd, who accepted the position in February 2016, having previously served as General Counsel. Samson II features a substantially improved financial position, having discharged approximately $4 billion of debt and nearly $300 million of annual interest expense under the Plan. Samson II's post-emergence debt financing consists of a first lien revolving credit facility with an initial borrowing base of $280 million, of which $245 million was outstanding on the effective date. With the completion of its restructuring, the Company has greater than $60 million in total liquidity (including both cash on hand and available under the credit facility), a business plan that projects positive free cash flow, and substantial commodity hedges to protect that liquidity position. Samson II is a privately held onshore exploration and production company headquartered in Tulsa, Oklahoma. The Company has significant acreage positions in East Texas, the Powder River Basin and the Green River Basin that, taken together, comprise approximately 450,000 net acres and the Company produces approximately 140 MMCFE/day of oil, natural gas and NGL's. The Company, in consultation with its new Board of Directors and CEO, plans to conduct a strategic review of its asset portfolio and development plan in order to maximize value for its stakeholders. "It is a great pleasure and honor to work with the new ownership group and the employees to develop and implement our new strategic direction and further strengthen the company's capital structure and operations," stated Joseph A. Mills, President and Chief Executive Officer of Samson II. "I look forward to helping build shareholder value and an organization that will be a credit to the management team and our workforce, who have been highly supportive during our restructuring process. I would also like to thank Andrew Kidd and the previous management team for their dedication and perseverance in guiding the company during the bankruptcy process." Mr. Kidd stated, "Its emergence from Chapter 11 will allow the Company to move past a challenging period for SRC and others in this industry and once again devote full attention to running its business as our industry continues its recovery. We thank all of our employees, customers, partners, restructuring advisors and financial stakeholders for supporting us throughout this process, and I wish Joseph and all of my SRC colleagues the very best as they take their next steps." New Board of Directors In accordance with the Plan, Samson II has appointed a new Board of Directors consisting of Matthew W. Bonanno, Partner at York Capital Management; Eugene I. Davis, Chairman and Chief Executive Officer at Pirinate Consulting Group; Phillip A. Gayle, Jr., Managing Partner at Millennial Energy Partners; Joseph A. Mills, Chief Executive Officer of Samson Resources II, LLC and L. Spencer Wells, Partner at Drivetrain Advisors. Joseph A. Mills will also serve as Samson II's President and Chief Executive Officer and Eugene I. Davis will also serve as Chairman of the Board. About Samson Resources Corporation Samson Resources Corporation, et al., filed Chapter 11 bankruptcy petitions (Bankr. D. Del. Lead Case No. 15-11934) on Sept. 16, 2015. Philip W. Cook, the executive vice president and CFO, signed the petition. The Debtors estimated assets and liabilities Of more than $1 billion. Samson is an onshore oil and gas exploration and production company with interests in various oil and gas leases primarily located in Colorado, Louisiana, North Dakota, Oklahoma, Texas, and Wyoming. The Operating Companies operate, or have royalty or working interests in, approximately 8,700 oil and gas production sites. Samson was acquired by KKR and Crestview from Charles Schusterman in December 2011 for approximately $7.2 billion. The investor group provided approximately $4.1 billion in equity investments as part of the purchase price. Kirkland & Ellis LLP represents the Debtors as general counsel. Klehr Harrison Harvey Branzburg LLP is the Debtors' local counsel. Alvarez & Marsal LLC acts as the Debtors' financial advisor. Blackstone Advisory Partners L.P. serves as the Debtors' Investment banker. Garden City Group, LLC, serves as claims and noticing agent to the Debtors. Andrew Vara, acting U.S. trustee for Region 3, appointed three creditors of Samson Resources Corp. and its affiliated debtors to serve on the official committee of unsecured creditors. The Committee has tapped White & Case LLP as counsel and Farnan LLP as local counsel. * * * In September 2016, Judge Sontchi denied Samson Resources' Motion for extension of their exclusive periods to file and solicit acceptances of their Chapter 11 plan. Samson sought an extension of its exclusivity period by another six months through March 2017. The Debtors have filed a plan of reorganization. The Creditors' Committee has filed a competing plan of liquidation. SANCTUARY OF PRAISE: Hires Chervenic as Auctioneer -------------------------------------------------- The Sanctuary of Praise seeks authority from the U.S. Bankruptcy Court for the Northern District of Ohio to employ K W Chervenic Realty as auctioneer to the Debtor. The Sanctuary of Praise requires Chervenic to conduct a real estate sale on the Debtor's assets. Chervenic will be paid a commission of 6% on the first $100,000 and 4% on the balance, together with reasonable expenses. Chervenic will also be reimbursed for reasonable out-of-pocket expenses incurred. Scott Thompson, member of K W Chervenic Realty, 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. Chervenic can be reached at: Scott Thompson K W CHERVENIC REALTY 3589 Darrow Road Stow, OH 44224 Tel: (330) 686-1644 Fax: (330) 686-1363 About The Sanctuary of Praise The Sanctuary of Praise, based in Twinsburg, OH, filed a Chapter 11 petition (Bankr. N.D. Ohio Case No. 16-50537) on March 14, 2016. The Hon. Alan M. Koschik presides over the case. Edwin H. Breyfogle, Esq., to serve as bankruptcy counsel. In its petition, the Debtor estimated $1.25 million in assets and $726,916 in liabilities. The petition was signed by Dr. William B. Smith Sr, senior pastor. SANTA ROSA ANIMAL: Taps John Espinoza as Accountant --------------------------------------------------- Santa Rosa Animal Hospital, P.A. seeks approval from the U.S. Bankruptcy Court for the Northern District of Florida to hire an accountant and financial advisor. The Debtor proposes to hire John Espinoza to provide routine accounting services, which include the preparation of its quarterly tax returns, and pay him a monthly fee of $240. Meanwhile, Mr. Espinoza will prepare and file the Debtor's annual corporate tax return for a fixed fee of $400 per return. Mr. Espinoza does not hold or represent any interest adverse to the Debtor's bankruptcy estate, according to court filings. About Santa Rosa Animal Hospital Santa Rosa Animal Hospital, P.A., filed a Chapter 11 petition (Bankr. N.D. Fla. Case No. 16-31051) on Nov. 9, 2016. The petition was signed by Cheryl L. Beck, DVM, president. The Debtor is represented by Natasha Z. Revell, Esq., at Zalkin Revell, PLLC. The Debtor estimated assets of less than $50,000 and liabilities of less than $500,000 at the time of the filing. No official committee of unsecured creditors has been appointed in the Chapter 11 case. SBP HOLDING: S&P Affirms 'CCC+' CCR & Revises Outlook to Negative ----------------------------------------------------------------- S&P Global Ratings affirmed its 'CCC+' corporate credit rating on SBP Holding L.P. and revised the outlook to negative from stable. The 'CCC+' issue-level rating on the company's first-lien term loan and 'CCC-' rating on its second-lien term loan are unchanged. The recovery rating on the first-lien loan remains '3', indicating S&P's expectation of meaningful (50% to 70%; rounded estimate 65%) recovery in the event of a payment default. The recovery rating on the second-lien term loan remains '6', indicating S&P's expectation of negligible (0% to 10%) recovery in the event of a payment default. "The negative outlook reflects our revised assessment of liquidity to less than adequate," said S&P Global Ratings credit analyst Michael Tsai. As of Nov. 30, 2016, SBP had about $30 million drawn on its credit facility with a total availability of about $54 million. Additionally, if availability under the revolver falls below $8 million a springing covenant takes effect, which S&P believes would result in SBP being out of compliance, further limiting liquidity. S&P also believes access to additional capital other than the facility is minimal outside of the company's financial sponsor. The company's strategy has been to fund opportunistic acquisitions under its credit facility, and pay down outstanding amounts with free cash flow. While S&P continues to project the company will generate modest free operating cash flows this year, further distress in the oil and gas services sector could have additional adverse impact on both cash flows and revolver availability. The negative outlook on SBP reflects S&P's assessment of the company's liquidity as less than adequate, owing to the limited capacity on its credit facility due to the high draw on its facility used to finance acquisitions, and likely limited access to additional capital under distress. However, S&P expects the company will generate a modest amount of cash flow and has minimal capital spending requirements, both of which support the ratings. S&P could lower the rating if the company's liquidity deteriorates, which is likely if cash flows suffer by more than S&P expects and further capacity under the credit facility is eroded, such that S&P could see a path to default within a year. S&P could revise the outlook to stable if it projected liquidity and credit measures would improve, such that FFO/debt was approaching 12%, which would likely result from improving oil and gas end markets. SERVICE WELDING: Hires Kaplan & Partners as Counsel --------------------------------------------------- Service Welding & Machine Company, LLC, d/b/a Service Tanks, seeks authority from the U.S. Bankruptcy Court for the Western District of Kentucky to employ Kaplan & Partners LLP as counsel. Service Welding requires Kaplan & Partners to: a. give legal advice with respect to the Debtor's powers and duties as Debtor in possession in the continued operations of the estate's business and management of its assets; b. take all necessary action to protect and preserve the Debtor's estate, including the prosecution of actions on behalf of the Debtor, the defense of any actions commenced against the Debtor, negotiations concerning all litigation in which the Debtor are involved, if any, and objecting to claims filed against the Debtor's estate; c. prepare on behalf of the Debtor all necessary motions, answers, orders, reports and other legal papers in connection with the administration of the Debtor's estate herein; and d. perform any and all other legal services for the Debtor in connection with the chapter 11 case and the formulation and implementation of the Debtor's chapter 11 plan. Kaplan & Partners will be paid at these hourly rates: Charity Neukomm $275 Christopher Rambicure $250 James McGhee $250 Aimee Patenaude, Paralegal $95 The Debtor paid Kaplan & Partners the amount of $15,000, where the sum of $9,922.50 has been utilized for prepetition services and filing fees, leaving $5,077.50 in Kaplan & Partners' escrow account. Kaplan & Partners will also be reimbursed for reasonable out-of-pocket expenses incurred. Charity B. Neukomm, member of Kaplan & Partners, 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. Kaplan & Partners can be reached at: Charity B. Neukomm, Esq. KAPLAN & PARTNERS LLP 710 West Main Street, Fourth Floor Louisville, KY 40202 Tel: (502) 540-8285 Fax: (502) 540-8282 E-mail: cneukomm@kplouisville.com About Service Welding & Machine Company Service Welding & Machine Company, LLC, based in Louisville, KY, filed a Chapter 11 petition (Bankr. W.D. Ky. Case No. 17-30485) on Feb. 17, 2017. The Hon. Joan A. Lloyd presides over the case. In its petition, the Debtor estimated $516,432 in assets and $2.12 million in liabilities. The petition was signed by Jeff Androla, president. Charity B. Neukomm, Esq., at Kaplan & Partners LLP, serves as bankruptcy counsel to the Debtor. SNYDER VIRGINIA: Hires Tranzon Fox as Auctioneer ------------------------------------------------ Snyder Virginia Properties, LLC, seeks authority from the U.S. Bankruptcy Court for the Western District of Virginia to employ Tranzon Fox as auctioneer to the Debtor. Snyder Virginia requires Tranzon Fox as auctioneer to market and sell the Debtor's properties, as follows: 1) Anna Coves Estates, Parcel 2, 20.27 ac. Louisa County Tax Map # 17-4-2. 2) The Farms at Cutalong, Lot 1A, 4.695 ac. Louisa County Tax Map # 29-9-1. 3) The Farms at Cutalong, Lot 2A, 5.097 ac. Louisa County Tax Map # 29-9-2. 4) The Farms at Cutalong, Lot 11, 8.683 ac. Louisa County Tax Map # 29-9-11. 5) The Farms at Cutalong, Lot 12, 6.532 ac. Louisa County Tax Map # 29-9-12. 6) The Farms at Cutalong, Lot 17, 5.238 ac. Louisa County Tax Map # 29-9-17. 7) Cutalong, Lot 112, 0.38 ac. Louisa County Tax Map # 29-11- 112. 8) Cutalong, Lot 157, 0.45 ac. Louisa County Tax Map # 29-11- 157. Tranzon Fox as auctioneer will be paid a commission of 10% of the selling price. Tranzon Fox as auctioneer will also be reimbursed for reasonable out-of-pocket expenses incurred. Jeff Stein, member of Tranzon Fox, 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. Tranzon Fox as auctioneer can be reached at: Jeff Stein TRANZON FOX 3819 Plaza Drive Fairfax, VA 22030 Tel: (703) 539-8111 About Snyder Virginia Properties Snyder Virginia Properties, LLC, based in Mineral, VA, filed a Chapter 11 petition (Bankr. W.D. Va. Case No. 16-61364) on July 7, 2016. The Hon. Rebecca B. Connelly presides over the case. In its petition, the Debtor estimated $0 to $50,000 in assets and $10 million to $50 million in liabilities. The petition was signed by Jeff Snyder, manager. Edward Gonzalez, Esq., at the Law Office of Edward Gonzalez, PC, serves as bankruptcy counsel to the Debtor. No official committee of unsecured creditors has been appointed in the case. STARPORT TRANSPORTATION: Case Summary & 20 Top Unsecured Creditors ------------------------------------------------------------------ Debtor: Starport Transportation, Inc. 2733 E. Battlefield #163 Springfield, MO 65804 Case No.: 17-60184 Chapter 11 Petition Date: February 28, 2017 Court: United States Bankruptcy Court Western District of Missouri (Springfield) Judge: Hon. Arthur B. Federman Debtor's Counsel: Angela D. Acree, Esq. JB JAMES LAW FIRM, PC 4650 S. National, Ste. C-5 Springfield, MO 65810 Tel: 417-886-5940 Fax: 417-886-4343 E-mail: aacree@jbjameslawfirm.com law@JBJamesLawFirm.com Total Assets: $1.01 million Total Liabilities: $2.30 million The petition was signed by Michael Dean Moss, president. A copy of the Debtor's list of 20 largest unsecured creditors is available for free at http://bankrupt.com/misc/mowb17-60184.pdf STEMTECH INTERNATIONAL: Creditors' Panel Hires Berger as Counsel ---------------------------------------------------------------- The Official Committee of Unsecured Creditors of Stemtech International, Inc., seeks authorization from the U.S. Bankruptcy Court for the Southern District of Florida to retain Berger Singerman LLP as counsel to the Committee. The Committee requires Berger to: a. attend the meetings of the Committee; b. review the financial and operational information furnished by the Debtor to the Committee; c. analyze and negotiate the budget and the terms of the use of cash collateral and debtor-in-possession financing; d. assist in the efforts to sell assets of the Debtor in a manner that maximizes value for creditors; e. review and investigate the liens of purportedly secured parties; f. review and investigate prepetition transactions in which the Debtor and its lenders were involved; g. confer with the principals, counsel and advisors of the Debtor's lenders and equity holders; h. review the Debtor's schedules, statements of financial affairs and business plan; i. advise the Committee as to the ramifications regarding all of the Debtor's activities and motions before the Court; j. prepare and file appropriate pleadings on behalf of the Committee; k. analyze and negotiate any proposed chapter 11 plan or exit strategy in the case; l. provide the Committee with legal advice in relation to the chapter 11 case; m. prepare various applications and memoranda of law submitted to the Court for consideration, and handle all other matters relating to the representation of the Committee that may arise; n. execute its duties under section 1103 of the Bankruptcy Code; and o. perform such other legal services for the Committee as may be necessary or proper in this case. Berger will be paid at these hourly rates: Attorney $295-$695 Paralegal $75-$235 Berger will also be reimbursed for reasonable out-of-pocket expenses incurred. Paul Steven Singerman, member of Berger Singerman, 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. The firm can be reached at: Paul Steven Singerman, Esq. BERGER SINGERMAN LLP 1450 Brickell Avenue, Suite 1900 Miami, FL 33131 Tel: (305) 755-9500 Fax: (305) 714-4340 About Stemtech International Stemtech International, Inc., filed a Chapter 11 bankruptcy petition (Bankr. S.D.Fla. Case No. 17-11380) on Feb. 2, 2017. The petition was signed by Ray C. Carter, chief executive officer. The Hon. Raymond B. Ray presides over the case. In its petition, the Debtor estimated $1 million to $10 million in both assets and liabilities. The Debtor tapped SEESE, PA, as counsel; and GlassRatner Advisory & Capital Group, LLC, as its financial advisor. SUNSET9 LLC: Hires Louis J. Esbin as Counsel -------------------------------------------- Sunset9 LLC seeks authority from the U.S. Bankruptcy Court for the Central District of California to employ the Law Offices of Louis J. Esbin as counsel. Sunset9 LLC requires Esbin to: a. provide the Debtor legal advice with respect to powers and duties as a Debtor in the administration of the estate and property of the estate, including as bankruptcy counsel, only and not to appear generally, with respect to any state court litigation pending as of the filing date, and with respect to the Debtor's rights, claims or interests versus those of parties in interest in the estate; b. appear on behalf of the Debtor at all meetings required under the Guidelines of the U.S. Trustee, where counsel for the Debtor would be in the best interest of the estate and the Debtor; c. negotiate on behalf of the Debtor to administer the estate and property of the estate, including as bankruptcy counsel with respect to the Debtor's rights, claims or interests; d. advise the Debtor regarding its rights and duties in connection with the assumption or rejection of executory contracts and leases; e. prepare or review on behalf of the Debtor required or necessary applications, motions, answers, orders, reports and other legal papers or documents, including as bankruptcy counsel with respect to the Debtor's rights, claims or interests; f. negotiate on behalf of the Debtor with holders of secured and unsecured claims and equity security interest holders, including as bankruptcy counsel with respect to the Debtor's rights, claims or interests versus those of parties in interest in the estate; g. initiate or defend, or assist the Debtor in the prosecution or defense in any proceedings which may arise in the case, and take such other necessary action in other matters, for which legal counsel is required, and which may affect the administration of the estate, including as bankruptcy counsel with respect to the Debtor's rights, claims or interest versus those of parties in interest in the estate. Esbin will be paid at these hourly rates: Louis J. Esbin, Partner $500 Associate $250 Paralegal/Legal Assistants $150 Esbin will be paid a retainer in the amount of $10,000. Esbin will also be reimbursed for reasonable out-of-pocket expenses incurred. Louis J. Esbin, member of Law Offices of Louis J. Esbin, 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. Esbin can be reached at: Louis J. Esbin, Esq. LAW OFFICES OF LOUIS J. ESBIN 25129 The Old Road, Suite 114 Stevenson Ranch, CA 91381-2273 Tel: (661) 254-5050 Fax: (661) 254-5252 About Sunset9 LLC Sunset9 LLC, based in Valencia, CA, filed a Chapter 11 petition (Bankr. C.D. Cal. Case No. 17-10624) on Jan. 19, 2017. The Hon. Sheri Bluebond presides over the case. Louis J. Esbin, Esq., at the Law Offices of Louis J. Esbin, to serve as bankruptcy counsel. In its petition, the Debtor estimated $0 to $50,000 in assets and $1 million to $10 million in liabilities. The petition was signed by Joel Abergel, managing member. SWORDS GROUP: Taps Charter Development as Real Estate Broker ------------------------------------------------------------ Swords Group, LLC seeks approval from the U.S. Bankruptcy Court for the Middle District of Tennessee to hire a real estate broker. The Debtor proposes to hire Charter Development Company to assist in the marketing, sale and closing of a real property it owns located at 207 Hartmann Drive, Lebanon, Tennessee. CDC will get a commission of 6% on any procured sale of the Hartmann Drive property. CDC President Terry Smith disclosed in a court filing that the firm will not hold any interest adverse to Debtor and will not cease to be a "disinterested person" under section 101(14) of the Bankruptcy Code during the period of its employment. The firm can be reached through: Terry Smith Charter Development Company 720B South Church Street P.O. Box 2511 Murfreesboro, TN 37133-2511 Phone: (615) 329-8000 Fax: (615) 217-8245 Email: info@charterdevelopment.com About Swords Group Swords Group, LLC, sought protection under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Tenn. Case No. 16-03837) on May 26, 2016. The petition was signed by Jerry Swords, president. The Debtor is represented by Griffin S. Dunham, Esq., at Dunham Hildebrand, PLLC. The case is assigned to Judge Marian F. Harrison. At the time of the filing, the Debtor estimated its assets and liabilities at $1 million to $10 million. No trustee or committee of unsecured creditors been appointed in the Debtor's case. On September 16, 2016, the Debtor filed a disclosure statement, which explains its proposed Chapter 11 plan of reorganization. The plan proposes to pay general unsecured claims in full. TRANS-LUX CORP: Bard Associates Has 5% Stake as of Dec. 31 ---------------------------------------------------------- In a Schedule 13G filed with the Securities and Exchange Commission, Bard Associates, Inc. disclosed that as of Dec. 31, 2016, it beneficially owns 86,080 shares of common stock of Trans-Lux Corporation representing 5 percent of the shares outstanding. A full-text copy of the regulatory filing is available for free at https://is.gd/Zw2nmI About Trans-Lux Corporation Norwalk, Conn.-based Trans-Lux Corporation (NYSE Amex: TLX) is a designer and manufacturer of digital signage display solutions for the financial, sports and entertainment, gaming and leasing markets. Trans-Lux Corporation reported a net loss of $1.74 million on $23.56 million of total revenues for the year ended Dec. 31, 2015, compared to a net loss of $4.62 million on $24.35 million of total revenues for the year ended Dec. 31, 2014. As of Sept. 30, 2016, Trans-Lux Corp had $13.66 million in total assets, $14.65 million in total liabilities and a total stockholders' deficit of $997,000. Marcum LLP, in Hartford, CT, issued a "going concern" qualification on the consolidated financial statements for the year ended Dec. 31, 2015, noting that the Company has suffered recurring losses from operations and has a significant working capital deficiency that raise substantial doubt about its ability to continue as a going concern. Further, the Company is in default of the indenture agreements governing its outstanding 9 1/2% subordinated debentures which were due in 2012 and its 8 1/4% limited convertible senior subordinated notes which were due in 2012 so that the trustees or holders of 25% of the outstanding Debentures and Notes have the right to demand payment immediately. Additionally, the Company has a significant amount due to their pension plan over the next 12 months. TRANSUNION: S&P Raises CCR to 'BB' on Strong Operating Performance ------------------------------------------------------------------ S&P Global Ratings said it raised its corporate credit rating on Chicago-based TransUnion to 'BB' from 'BB-'. The outlook is positive. At the same time, S&P raised its issue-level rating on TransUnion's senior secured credit facilities to 'BB' from 'BB-'. The recovery rating remains '3', indicating S&P's expectation for meaningful (50%-70%; rounded estimate 60%) recovery in the event of a payment default. "Our upgrade of TransUnion reflects the firm's ongoing progress in reducing leverage and growing EBITDA since its IPO in June 2015," said S&P Global Ratings credit analyst James Thomas. Revenues grew in the double digits for the third consecutive year in 2016, although the rate of growth declined somewhat to 13.1%, down from 15.5% in 2015. TransUnion continues to improve profitability as well, with EBITDA margins growing by over 200 basis points (bps) in 2016. This strong operating performance has enabled TransUnion to reduce leverage to 4x in 2016, and S&P revised its assessment of the firm's financial risk profile to significant from aggressive. S&P expects credit metrics to continue to improve over the next year, based on its forecast of 6%-8% revenue growth, although S&P believes that the firm will prioritize shareholder returns and acquisitions over leverage reductions substantially beyond the mid-3x area. The positive outlook on TransUnion reflects S&P's expectation that consistent revenue growth, an increasing share of revenues from the health care and insurance industries, and improving geographic diversity will enable TransUnion to further improve credit metrics over the course of 2017 and provide increasingly stable operating performance. S&P would also view a further reductions the share of TransUnion owned by financial sponsors as a credit positive. TTC REAL ESTATE: Seeks to Hire Trend Setter as Broker ----------------------------------------------------- TTC Real Estate Holdings, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas to hire a broker. The Debtor proposes to hire Trend Setter Realty, LLC in connection with the sale of its property in Houston, Texas. The Debtor has agreed to pay the firm no more than 6% of the sales price of the property. Trend Setter will get half of the commission while the other 50% will go to the buyer's agent unless otherwise agreed to by the Debtor. Pavnouty Abraham disclosed in a court filing that the firm is a "disinterested person" as defined in section 101(14) of the Bankruptcy Code. Trend Setter can be reached through: Pavnouty Abraham Trend Setter Realty, LLC Phone: 713-333-7206 About TTC Real Estate Holdings TTC Real Estate Holdings, LLC is a single-asset entity with its office and principal place of business located in Houston, Texas. The Debtor sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Texas Case No. 17-30111) on January 3, 2017. The petition was signed by Moses Musallam, manager. The case is assigned to Judge David R. Jones. At the time of the filing, the Debtor estimated assets of less than $500,000 and liabilities of $1 million to $10 million. ULTRA PETROLEUM: Judge Bars Investors from Collecting on $300M -------------------------------------------------------------- The American Bankruptcy Institute, citing Jim Christie of Reuters, reported that a judge has crushed the hopes of a group of investors in Ultra Petroleum Inc., a bankrupt natural gas company, who had sought to collect a $300 million windfall because a clerk entered a court order on the wrong date. According to the report, U.S. Bankruptcy Judge Marvin Isgur approved on Feb. 13, 2017, the disclosures for Ultra's plan to emerge from Chapter 11, although his order was not put on the docket until the morning of Feb. 14. Some holders of Ultra's notes then argued that the delay changed the plan's economics in their favor, until Judge Isgur ruled against them, the report related. "I couldn't have imagined this would be entered on the wrong date," Judge Isgur said, adding that it was not clear why, the report further related. During a hurried conference call, the Houston bankruptcy judge said all the parties expected his order to be entered on the court's docket the same day he approved it, not the next morning, the report said. The mix-up prompted some holders of Ultra's notes to file court papers arguing the day difference would mean the company's rights offering should be delayed, as originally planned, and the delayed rights offering in turn would affect the formula for natural gas prices used to establish Ultra's value in its Chapter 11 plan, reducing it to $5.5 billion from $6 billion, the report added. That in turn would impact how noteholders would split the equity in the reorganized company with its shareholders, the report related. At the lower valuation the noteholders estimated they would get an additional $303 million, the report said, citing court filings. Judge Isgur said he would not change the "economics" of his order, and the restructuring agreement behind Ultra's disclosures, over a clerical error, the report further related. About Ultra Petroleum Houston, Texas-based Ultra Petroleum Corp. (OTC Pink Marketplace: "UPLMQ") is an independent oil and gas company engaged in the development, production, operation, exploration and acquisition of oil and natural gas properties. On April 29, 2016, Ultra Petroleum Corp. and seven subsidiary companies filed petitions (Bankr. S.D. Tex.) seeking relief under Chapter 11 of the United States Bankruptcy Code. The Debtors' cases have been assigned to Judge Marvin Isgur. These cases are being jointly administered for procedural purposes, with all pleadings filed in these cases will be maintained on the case docket for Ultra Petroleum Corp. Case No. 16-32202. Ultra Petroleum disclosed total assets of $1.28 billion and total liabilities of $3.91 billion as of March 31, 2016. James H.M. Sprayregen, P.C., David R. Seligman, P.C., Michael B. Slade, Esq., Christopher T. Greco, Esq., and Gregory F. Pesce, Esq., at Kirkland & Ellis LLP; and Patricia B. Tomasco, Esq., Matthew D. Cavenaugh, Esq., and Jennifer F. Wertz, Esq., at Jackson Walker, L.L.P., serve as co-counsel to the Debtors. Rothschild Inc. serves as the Debtors' investment banker; Petrie Partners serves as their investment banker; and Epiq Bankruptcy Solutions, LLC, serves as claims and noticing agent. The Office of the U.S. Trustee has appointed seven creditors of Ultra Petroleum Corp. to serve on an Official Committee of Unsecured Creditors. The Committee tapped Weil, Gotshal & Manges LLP as its legal counsel; Opportune LLP as advisor; and PJT Partners LP as its financial advisor. UNITED MOBILE: Cash Collateral Use Extended Through March 31 ------------------------------------------------------------ Judge Barbara Ellis-Monro of the U.S. Bankruptcy Court for the Northern District of Georgia extended the period within which United Mobile Solutions, LLC, can use cash collateral through March 31, 2017 on the terms contained in the Cash Collateral Order. T-Mobile USA, Inc., MetroPCS Georgia, LLC, and MetroPCS Texas, LLC, have agreed to the extension of the cash collateral period. The approved Budget provides for total expenses in the amount of $265,407 for February 2017 and $290,607 for March 2017. A full-text copy of the Order, entered on Feb. 24, 2017, is available at http://tinyurl.com/hr4cgnk About United Mobile Solutions United Mobile Solutions, LLC, filed a Chapter 11 petition (Bankr. N.D. Ga. Case No. 16-62537) on July 20, 2016. The petition was signed by Kil Won Lee, president. The Debtor is a carrier master dealer that operates and manages approximately 20 retail cellular phone stores. The Debtor's corporate offices are located in Norcross, Georgia. The Debtor is represented by Cameron M. McCord, Esq., at Jones & Walden, LLC. The Debtor estimated its assets at $0 to $50,000 and its liabilities at $1 million to $10 million at the time of the filing. An official committee of unsecured creditors has not yet been appointed in the Chapter 11 case of United Mobile Solutions, LLC, as of Nov. 8, according to a court docket. UPPER ROOM: Hires Moret as Accountant ------------------------------------- The Upper Room Bible Church, Inc., seeks authority from the U.S. Bankruptcy Court for the Eastern District of Louisiana to employ Curtis A. Moret, Jr., LLC, as accountant. Upper Room requires Moret to provide accounting services to the Debtor. Moret will be paid at the hourly rate of $75. Moret will also be reimbursed for reasonable out-of-pocket expenses incurred. Curtis A. Moret, Jr., a member of the firm, assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtor and its estates. Moret can be reached at: Curtis A. Moret, Jr. CURTIS A. MORET, JR., LLC 7210 Camberley Drive New Orleans, LA 70128 About The Upper Room Bible Church, Inc. The Upper Room Bible Church, Inc. filed a Chapter 11 petition (Bankr. E.D. La. Case No. 16-12757), on November 8, 2016, disclosing under $1 million in both assets and liabilities. The Petition was signed by Herbert H. Rowe, Jr. The Debtor is represented by P. Douglas Stewart, Jr., Esq., Brandon A. Brown, Esq., and Ryan J. Richmond, Esq., at Stewart Robbins & Brown, LLC. VASSALLO INTERNATIONAL: Taps Caribbean Asset as Auctioneer ---------------------------------------------------------- Vassallo International Group, Inc. seeks approval from the U.S. Bankruptcy Court for the District of Puerto Rico to hire an auctioneer. The Debtor proposes to hire Caribbean Asset Recovery, Inc. in connection with the sale of its machinery and equipment to Industrial Gamma, S.R.L. A buyer's premium of 15% will apply to the purchases, which will be the sole compensation of Caribbean Asset. No commission will be deducted from the sale proceeds. Antonio Pagan, president of Caribbean Asset, disclosed in a court filing that the officers, director and shareholders of the firm are "disinterested persons" as defined in section 101(14) of the Bankruptcy Code. The firm can be reached through: Antonio Pagan Caribbean Asset Recovery, Inc. P.O. Box 1736, Bayamon, P.R. 00960 About Vassallo International Group Vassallo International Group Inc., filed a Chapter 11 petition (Bankr. D. P.R. Case No. 16-09093) on November 16, 2016. The petition was signed by Rafael V. Vassallo Collazo, president. The Debtor is represented by Charles A. Cuprill, P.S.C., Law Offices. Luis R. Carrasquillo & Co., P.S.C. serves as its financial consultant. The Debtor disclosed $0 million in assets and $8.4 million in liabilities. VERMILLION INC: FMR LLC Reports 10% Stake as of Feb. 13 ------------------------------------------------------- FMR LLC and Abigail P. Johnson, director, the chairman and the chief executive officer of FMR, reported in a regulatory filing with the Securities and Exchange Commission dated Feb. 13, 2017, that they beneficially own 5,252,463 shares of common stock of Vermillion Inc. representing 10.049% of the shares outstanding. Select Biotechnology Portfolio also reported beneficial ownership of 4,260,663 common shares as of that date. A full-text copy of the Schedule 13G/A is available for free at https://is.gd/zmXk6h About Vermillion Vermillion, Inc., is dedicated to the discovery, development and commercialization of novel high-value diagnostic tests that help physicians diagnose, treat and improve outcomes for patients. Vermillion, along with its prestigious scientific collaborators, has diagnostic programs in oncology, hematology, cardiology and women's health. The Company filed for Chapter 11 bankruptcy protection (Bankr. D. Del. Case No. 09-11091) on March 30, 2009. Vermillion's legal advisor in connection with its successful reorganization efforts wass Paul, Hastings, Janofsky & Walker LLP. Vermillion emerged from bankruptcy in January 2010. The Plan called for the Company to pay all claims in full and equity holders to retain control of the Company. Vermillion reported a net loss of $19.1 million on $2.17 million of total revenue for the year ended Dec. 31, 2015, compared to a net loss of $19.2 million on $2.52 million of total revenue for the year ended Dec. 31, 2014. As of Sept. 30, 2016, Vermillion had $10.68 million in total assets, $4.39 million in total liabilities and $6.29 million in total stockholders' equity. WRAP MEDIA: Seeks to Hire Carr & Ferrell as Corporate Counsel ------------------------------------------------------------- Wrap Media, LLC and Wrap Media, Inc. seek approval from the U.S. Bankruptcy Court for the Northern District of California to hire Carr & Ferrell, LLP. Carr & Ferrell will provide legal services to the Debtors as their corporate and general counsel, which include assisting them in the sale of their technology. The hourly rates charged by the firm range from $200 to $975. Barry Carr, Esq., at Carr & Ferrell, disclosed in a court filing that the firm does not hold or represent any interest adverse to the Debtors' estates. The firm can be reached through: Barry Carr, Esq. Carr & Ferrell, LLP 120 Constitution Drive Menlo Park, CA 94025 Phone: 650-812-3400 Fax: 650-812-3444 About Wrap Media LLC Wrap Media, LLC, and Wrap Media, Inc., sought protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Cal. Case Nos. 16-31325 and 16-31326) on Dec. 10, 2016. The petitions were signed by Eric Greenberg, chief executive officer. The cases are assigned to Judge Hannah L. Blumenstiel. The Debtors hired St. James Law, P.C. as their legal counsel; and Beyer Law Group, LLP, as special counsel. At the time of the filing, the Debtors estimated their assets at $1 million to $10 million and liabilities at $10 million to $50 million. YESHIVA UNIVERSITY: Moody's Affirms B3 Rating on $170MM Bonds ------------------------------------------------------------- Moody's Investors Service has affirmed the B3 rating on $170 million of Yeshiva University's Series 2009 and 2011A bonds and has revised the outlook to stable from negative. The revision of the outlook to stable is driven by a material increase in unrestricted cash and investments, significantly improving the university's liquidity position to allow more time for management to execute its plans to reach financially sustainable operations. The B3 rating reflects Yeshiva's very weak fiscal and operational condition, with negative but improving cash flow expected to continue as the university continues to adjust its business model and right size operations. The rating also reflects challenges associated with growing revenue in a highly competitive market with a narrow undergraduate student focus. The now sufficient level of unrestricted liquidity is a stabilizing factor during a highly transitional period, with a new president scheduled to join the university prior to the start of academic year 2017-2018. The rating also incorporates the likelihood of full recovery for bondholders from marketable real estate assets if the sale of those assets were to become necessary. Rating Outlook The stable outlook reflects substantial improvement in unrestricted liquidity and reduced financial leverage from the $207 million monetization of assets in early FY 2017, a stabilizing factor during a highly transitional period. It also reflects Moody's expectations that continued operational improvements will reduce the pace at which the university uses liquid reserves to fund structural cash deficits. Factors that Could Lead to an Upgrade Substantial increase and maintenance of internal unrestricted liquidity Demonstration of fiscally sustainable business plan, evidenced by sustained improvement in operating performance Factors that Could Lead to a Downgrade Failure to reduce structural operating deficits Material contraction in the university's liquidity profile before operations reach break-even Adverse changes in the university's debt structure Legal Security The Series 2009 and 2011A revenue bonds are unsecured general obligations of the university. The revenue bonds are subordinate to the $125 million bank private placement (150% collateralization from mortgages) and an additional $5 million of mortgages. Use of Proceeds Not applicable Obligor Profile Yeshiva University is a moderate-sized private university operated under Jewish auspices. The university provides undergraduate, graduate, professional, and post-doctoral education and training. It is located in New York City, with three campuses in Manhattan and one in the Bronx. Yeshiva maintains an affiliation with the Albert Einstein College of Medicine located in the Bronx. Methodology The principal methodology used in this rating was Global Higher Education published in November 2015. ZIO'S RESTAURANT: Wants Plan Exclusivity Pending Plan Approval -------------------------------------------------------------- Zio's Restaurant Company, LLC, and is affiliated debtors request the U.S. Bankruptcy Court for the Western District of Texas to extending their exclusive periods to solicit acceptances of a Chapter 11 plan for 60 days, through and including May 5, 2017. The Debtors relate that since the Petition Date, they have worked to obtain additional operational financing, streamline their business operations, negotiate improved terms on many of their leases, and shed expensive and unsustainable leases. The Debtors have also diligently worked to evaluate their ability to repay their creditors and to propose a reorganization of their business to repay their debts and emerge from chapter 11 bankruptcy. To that end, the Debtors submit that they have already filed their Joint Plan of Reorganization and their Disclosure Statement within the exclusive period for the Debtors to do so under Section 1121 of the Bankruptcy Code. The Court entered an order approving the Disclosure Statement on February 15, 2017. The Debtors relate that shortly thereafter, they have commenced solicitation and have already begun to receive ballots and feedback from the creditors in the Cases on the terms of the Plan and the language of the Disclosure Statement. The Solicitation Order scheduled a hearing to confirm the Plan for March 27, 2017. The Debtors tell the Court that they have not previously sought extensions of their exclusive periods for filing a plan and securing acceptances thereof. About Zio's Restaurant Zio's Restaurant Company, LLC, and 16 of its subsidiaries commenced Chapter 11 cases on Sept. 7, 2016, in the U.S. Bankruptcy Court for the Western District of Texas (Bankr. W.D. Tex. Proposed Lead Case No. 16-52041). The cases are assigned to Judge Ronald B. King. Founded in 1994 in Oklahoma City, Oklahoma, Zio's Restaurant Company, LLC, et al., have operated a full-service chain restaurant since 2007. Zio's focuses on providing Italian cuisine in a casual and comfortable open-aire piazza. Zio's offers appetizers, soups and salads, pastas, specialties, calzones and sandwiches, pizzas, drinks, wine, desserts, kid's menu, pronto lunches, and gluten free menu options. As of the Petition Date, there were 15 stores, all of which operate in leased premises located in Texas, Oklahoma, Missouri, Kansas, New Mexico and Colorado. The Debtors employ 875 personnel. At one time, the Zios' concept was expanded to 21 locations. The Debtors' business operations are, and have been, managed by FMP SA Management Group, LLC pursuant to a management agreement. FMP, a privately held company based in Hollywood Park, Texas, is a multi-concept developer and operator of independent restaurant chains. Zio's Restaurant is the sole member of each of Debtors FMPRG # 601, LLC, FMPRG # 602, LLC, FMPRG # 603, LLC, FMPRG # 604, LLC, FMPRG # 605, LLC, FMPRG # 606, LLC, FMPRG # 607, LLC, FMPRG # 608, LLC, FMPRG # 609, LLC, FMPRG # 610, LLC, FMPRG # 611, LLC, FMPRG # 613, LLC, FMPRG # 615, LLC, FMPRG # 618, LLC, FMPRG # 623, LLC, and FMPRG # 624, LLC. ZIONS BANCORP: DBRS to Withdraw BB Preferred Stock Rating --------------------------------------------------------- DBRS, Inc. said in mid-February 2017 that it plans to withdraw the ratings on Salt Lake City, UT-based Zions Bancorporation (Zions) and its subsidiaries after a 30-day waiting period for business reasons. This advance notice is provided to the market to permit investor feedback to DBRS and for the benefit of the users of DBRS ratings and research. DBRS may elect to continue coverage based on investor feedback. DBRS will maintain coverage on Zions until the withdrawal. The full list of ratings to be withdrawn are listed in the table below: Zions Bancorporation -- Issuer & Senior Debt at BBB, Stable Zions Bancorporation -- Subordinated Debt at BBB (low), Stable Zions Bancorporation -- Commercial Paper & Short-Term Instruments at R-2 (middle), Stable Zions Bancorporation -- Preferred Stock at BB, Stable ZB, N.A. -- Senior Debt & Deposits at BBB (high), Stable ZB, N.A. -- Short-Term Instruments at R-1 (low), Stable Amegy Trust I -- Trust Preferred Securities at BBB (low), Stable Amegy Trust II -- Trust Preferred Securities at BBB (low), Stable Amegy Trust III -- Trust Preferred Securities at BBB (low), Stable Stockmen's Trust II -- Trust Preferred Securities at BBB (low), Stable Stockmen's Trust III -- Trust Preferred Securities at BBB (low), Stable Intercontinental Statutory Trust -- Trust Preferred Securities at BBB (low), Stable [^] Recent Small-Dollar & Individual Chapter 11 Filings ------------------------------------------------------- In re Drake Delano Duane Bankr. D. Ariz. Case No. 17-01523 Chapter 11 Petition filed February 21, 2017 represented by: Dean M. Dinner, Esq. NUSSBAUM GILLIS & DINNER, P.C. E-mail: ddinner@ngdlaw.com In re David J. Heyer and Ellen J. Heyer Bankr. N.D. Ill. Case No. 17-04889 Chapter 11 Petition filed February 21, 2017 represented by: J. Kevin Benjamin , Esq. BENJAMIN & BRAND LLP E-mail: attorneys@benjaminlaw.com In re Stichter & Stichter Trucking, LLC Bankr. N.D. Ind. Case No. 17-40044 Chapter 11 Petition filed February 21, 2017 See http://bankrupt.com/misc/innb17-40044.pdf represented by: David A. Rosenthal, Esq. E-mail: darlaw@nlci.com In re Chad Dwayne Lane Bankr. D. Md. Case No. 17-12282 Chapter 11 Petition filed February 21, 2017 represented by: Marc E. Shach, Esq. COON & COLE, LLC E-mail: mes@cooncolelaw.com In re Auto Tech 101, Inc. Bankr. D.N.J. Case No. 17-13314 Chapter 11 Petition filed February 21, 2017 See http://bankrupt.com/misc/njb17-13314.pdf represented by: Harrison Ross Byck, Esq. KASURI BYCK, LLC E-mail: lawfirm@kasuribyck.com In re Triple J Tours Bankr. D. Nev. Case No. 17-10762 Chapter 11 Petition filed February 21, 2017 See http://bankrupt.com/misc/nvb17-10762.pdf represented by: Jeffrey A. Cogan, Esq. JEFFREY A. COGAN, ESQ., LTD. E-mail: jeffrey@jeffreycogan.com In re Prima Pasta & Cafe, Inc. Bankr. E.D.N.Y. Case No. 17-40760 Chapter 11 Petition filed February 21, 2017 See http://bankrupt.com/misc/nyeb17-40760.pdf Filed Pro Se In re Yellow Stars Transit LLC Bankr. S.D.N.Y. Case No. 17-10364 Chapter 11 Petition filed February 21, 2017 See http://bankrupt.com/misc/nysb17-10364.pdf represented by: Ehsanul Habib, Esq. LAW OFFICE OF EHSANUL HABIB E-mail: ehsanulhbb@yahoo.com In re Genesis Medical Equipment And Pharmacy Inc. Bankr. D.P.R. Case No. 17-01072 Chapter 11 Petition filed February 21, 2017 See http://bankrupt.com/misc/prb17-01072.pdf represented by: Ada M. Conde, Esq. ESTUDIO LEGAL 1611 CORP E-mail: estudiolegal1611@gmail.com In re Isidoro Gonzalez Guerrido and Ramona Febres Bernabe Bankr. D.P.R. Case No. 17-01088 Chapter 11 Petition filed February 21, 2017 represented by: Ruben Gonzalez Marrero, Esq. E-mail: rgmattorney1@hotmail.com In re Waldemar Lopez Matos and Iracela Hernandez Rivera Bankr. D.P.R. Case No. 17-01113 Chapter 11 Petition filed February 21, 2017 represented by: Nydia Gonzalez Ortiz, Esq. SANTIAGO & GONZALEZ E-mail: bufetesg@gmail.com In re Majestic Properties of Tennessee Bankr. W.D. Tenn. Case No. 17-21584 Chapter 11 Petition filed February 21, 2017 See http://bankrupt.com/misc/tnwb17-21584.pdf represented by: Ted I. Jones, Esq. JONES & GARRETT LAW FIRM E-mail: dtedijones@aol.com In re David Lee Isom Bankr. W.D. Tenn. Case No. 17-21609 Chapter 11 Petition filed February 21, 2017 represented by: John Edward Dunlap, Esq. E-mail: jdunlap00@gmail.com In re Lone Star Steakhouse & Saloon of Ohio, Inc. Bankr. E.D. Tex. Case No. 17-40342 Chapter 11 Petition filed February 21, 2017 See http://bankrupt.com/misc/txeb17-40342.pdf represented by: John P. Henry, Esq. THE LAW OFFICES OF JOHN HENRY, P.C. E-mail: jhenry@jhenrylaw.com In re Radiology Support Devices, Inc. Bankr. C.D. Cal. Case No. 17-12054 Chapter 11 Petition filed February 21, 2017 See http://bankrupt.com/misc/cacb17-12054.pdf represented by: Elaine Nguyen, Esq. WEINTRAUB & SELTH APC E-mail: elaine@wsrlaw.net In re John Harold Harding Bankr. D. Md. Case No. 17-12269 Chapter 11 Petition filed February 21, 2017 Filed Pro Se In re Family Practice of Atlanta Medical Group LLC Bankr. N.D. Ga. Case No. 17-53248 Chapter 11 Petition filed February 22, 2017 See http://bankrupt.com/misc/ganb17-53248.pdf represented by: David G. Carter, Esq. THE CARTER LAW PRACTICE, LLC E-mail: dcarter@clgfirm.com In re Ravenwood Enterprises, LLC Bankr. D.N.J. Case No. 17-13327 Chapter 11 Petition filed February 22, 2017 See http://bankrupt.com/misc/njb17-13327.pdf represented by: Bruce W. Radowitz, Esq. E-mail: bradowitz@comcast.net In re 688 10th Ave Restaurant Corp. Bankr. E.D.N.Y. Case No. 17-40766 Chapter 11 Petition filed February 22, 2017 See http://bankrupt.com/misc/nyeb17-40766.pdf represented by: Lawrence Morrison, Esq. MORRISON TENENBAUM PLLC E-mail: lmorrison@m-t-law.com In re Elbardi International Plaza C LLC Bankr. D.P.R. Case No. 17-01142 Chapter 11 Petition filed February 22, 2017 See http://bankrupt.com/misc/prb17-01142.pdf represented by: Luis E Correa Gutierrez, Esq. CORREA BUSINESS CONSULTING GROUP, LLC E-mail: lcorrea@correalawoffice.com In re Hartwell P. Morse, III and Deborah B. Morse Bankr. W.D. La. Case No. 17-30275 Chapter 11 Petition filed February 23, 2017 represented by: James W. Spivey, II, Esq. E-mail: office@jspiveylaw.com In re CRR, INC., a Maryland Corporation Bankr. D. Md. Case No. 17-12433 Chapter 11 Petition filed February 23, 2017 See http://bankrupt.com/misc/mdb17-12433.pdf represented by: Richard Whalen Lawlor, Esq. RICHARD W. LAWLOR, P.A. E-mail: LawlorLaw@Aol.com In re Carworx, LLC Bankr. E.D.N.C. Case No. 17-00882 Chapter 11 Petition filed February 23, 2017 See http://bankrupt.com/misc/mdb17-00882.pdf represented by: Philip W. Paine, Esq. E-mail: pwpaine.attorney@gmail.com In re Gabriels Towing & Recovery, Inc. Bankr. D.N.J. Case No. 17-13489 Chapter 11 Petition filed February 23, 2017 See http://bankrupt.com/misc/njb17-13489.pdf represented by: Joseph Casello, Esq. COLLINS, VELLA & CASELLO E-mail: jcasello@cvclaw.net In re Igor Shusteris Bankr. E.D.N.Y. Case No. 17-40811 Chapter 11 Petition filed February 23, 2017 represented by: Alla Kachan, Esq. E-mail: alla@kachanlaw.com In re Lindsay Jenkins Bankr. E.D.N.Y. Case No. 17-40816 Chapter 11 Petition filed February 23, 2017 represented by: Bruce Feinstein, Esq. E-mail: brucefeinsteinesq@gmail.com In re Milton Rivera Velazquez Bankr. D.P.R. Case No. 17-01180 Chapter 11 Petition filed February 23, 2017 represented by: Milton Rivera Velazquez, Esq. LEON LANDRAU LAW OFFICE E-mail: jleonlandrau@yahoo.com In re SKYY Laboratory, LLC Bankr. M.D. Tenn. Case No. 17-01195 Chapter 11 Petition filed February 23, 2017 See http://bankrupt.com/misc/tnmb17-01195.pdf represented by: E. Covington Johnston, Esq. JOHNSTON & STREET E-mail: ecjohnston@johnstonandstreet.com In re Roger Andrew Stadtmueller Bankr. E.D. Wash. Case No. 17-00483 Chapter 11 Petition filed February 23, 2017 represented by: Timothy R. Fischer, Esq. WINSTON & CASHATT, LAWYERS E-mail: trf@winstoncashatt.com In re V-Blox Corporation Bankr. M.D. Fla. Case No. 17-00628 Chapter 11 Petition filed February 24, 2017 See http://bankrupt.com/misc/flmb17-00628.pdf represented by: Jason A. Burgess, Esq. THE LAW OFFICES OF JASON A. BURGESS, LLC E-mail: jason@jasonaburgess.com In re Warren L. Boegel Bankr. D. Kan. Case No. 17-10224 Chapter 11 Petition filed February 24, 2017 represented by: Edward J. Nazar, Esq. Hinkle Law Firm, LLC E-mail: ebn1@hinklaw.com In re Christi Lea Willet Bankr. D. Md. Case No. 17-12447 Chapter 11 Petition filed February 24, 2017 Filed Pro Se In re Jim Hankins Air Service, Inc. Bankr. S.D. Miss. Case No. 17-00678 Chapter 11 Petition filed February 24, 2017 See http://bankrupt.com/misc/mssb17-00678.pdf represented by: Craig M. Geno, Esq. LAW OFFICES OF CRAIG M. GENO, PLLC E-mail: cmgeno@cmgenolaw.com In re Daniel J. Culliton and Ashley R. King Bankr. E.D.N.C. Case No. 17-00906 Chapter 11 Petition filed February 24, 2017 represented by: Laurie B. Biggs, Esq. STUBBS & PERDUE, PA E-mail: efile@stubbsperdue.com In re Robinson Hosiery Mill, Inc. Bankr. W.D.N.C. Case No. 17-40055 Chapter 11 Petition filed February 24, 2017 See http://bankrupt.com/misc/ncwb17-40055.pdf represented by: William S. Gardner, Esq. GARDNER LAW OFFICES, PLLC E-mail: Billgardner@gardnerlawoffices.com In re Mary V. Tropeano Bankr. E.D.N.Y. Case No. 17-40829 Chapter 11 Petition filed February 24, 2017 Filed Pro Se In re Abdulhay Associates, L.P. Bankr. E.D. Pa. Case No. 17-11295 Chapter 11 Petition filed February 24, 2017 See http://bankrupt.com/misc/paeb17-11295.pdf Filed Pro Se In re Magna Cleaners, Inc. Bankr. E.D. Pa. Case No. 17-11316 Chapter 11 Petition filed February 24, 2017 See http://bankrupt.com/misc/paeb17-11316.pdf represented by: Andrew J. Shaw, Esq. GOODMAN SCHWARTZ & SHAW LLC E-mail: ajshawesq@gmail.com In re Alvin Washington Trucking, Inc. Bankr. W.D. Tex. Case No. 17-10224 Chapter 11 Petition filed February 24, 2017 See http://bankrupt.com/misc/txwb17-10224.pdf represented by: B. Weldon Ponder, Jr., Esq. E-mail: welpon@austin.rr.com In re Asif Raza Malik and Falza Fayaz Khan Bankr. E.D. Wash. Case No. 17-00515 Chapter 11 Petition filed February 24, 2017 represented by: Kevin O’Rourke, Esq. SOUTHWELL AND O'ROURKE E-mail: kevin@southwellorourke.com In re Ann Michele West Bankr. E.D.N.Y. Case No. 17-71075 Chapter 11 Petition filed February 25, 2017 represented by: Mark A. Frankel, Esq. BACKENROTH FRANKEL & KRINSKY LLP E-mail: mfrankel@bfklaw.com In re Falco Mobile Food LLC Bankr. E.D.N.Y. Case No. 17-40860 Chapter 11 Petition filed February 26, 2017 See http://bankrupt.com/misc/nyeb17-40860.pdf represented by: Rachel Blumenfeld, Esq. LAW OFFICE OF RACHEL S. BLUMENFELD E-mail: rblmnf@aol.com In re Shaffer & Associates Limited Bankr. N.D.W. Va. Case No. 17-00185 Chapter 11 Petition filed February 26, 2017 See http://bankrupt.com/misc/wvnb17-00185.pdf represented by: Brian Richard Blickenstaff, Esq. TURNER & JOHNS, PLLC E-mail: bblickenstaff@turnerjohns.com In re John Jean Bral Bankr. C.D. Cal. Case No. 17-10706 Chapter 11 Petition filed February 24, 2017 represented by: Beth Gaschen, Esq. LOBEL WEILAND GOLDEN FRIEDMAN LLP E-mail: bgaschen@wgllp.com In re 9346 Investments, LLC Bankr. S.D. Ind. Case No. 17-01066 Chapter 11 Petition filed February 27, 2017 See http://bankrupt.com/misc/insb17-01066.pdf represented by: KC Cohen, Esq. KC COHEN, LAWYER, PC E-mail: kc@esoft-legal.com In re CSD Realty Corp. Bankr. E.D.N.Y. Case No. 17-71102 Chapter 11 Petition filed February 27, 2017 See http://bankrupt.com/misc/nyeb17-71102.pdf represented by: Mark E. Cohen, Esq. E-mail: MECESQ2@aol.com In re Margaux Intl Corp Margaux International Corp. Bankr. E.D.N.Y. Case No. 17-71104 Chapter 11 Petition filed February 27, 2017 See http://bankrupt.com/misc/nyeb17-71104.pdf represented by: John M. Stravato, Esq. E-mail: jmstravato@aol.com In re H & M Art and Home Decor, Inc. Bankr. S.D.N.Y. Case No. 17-10426 Chapter 11 Petition filed February 27, 2017 See http://bankrupt.com/misc/nysb17-10426.pdf represented by: Thomas A. Farinella, Esq. LAW OFFICES OF THOMAS A. FARINELLA, PC E-mail: tf@lawtaf.com In re Panaderia Y Reposteria Pontevedra Inc. Bankr. D.P.R. Case No. 17-01280 Chapter 11 Petition filed February 27, 2017 See http://bankrupt.com/misc/prb17-01280.pdf represented by: Modesto Bigas Mendez, Esq. BIGAS & BIGAS E-mail: modestobigas@yahoo.com In re Alejandra Melendez Bankr. S.D. Tex. Case No. 17-70072 Chapter 11 Petition filed February 27, 2017 represented by: Antonio Martinez, Jr., Esq. E-mail: martinez.tony.jr@gmail.com In re Adelina Briseno Bankr. S.D. Tex. Case No. 17-70073 Chapter 11 Petition filed February 27, 2017 represented by: Antonio Martinez, Jr., Esq. E-mail: martinez.tony.jr@gmail.com ********* Monday's edition of the TCR delivers a list of indicative prices for bond issues that reportedly trade well below par. Prices are obtained by TCR editors from a variety of outside sources during the prior week we think are reliable. Those sources may not, however, be complete or accurate. The Monday Bond Pricing table is compiled on the Friday prior to publication. Prices reported are not intended to reflect actual trades. Prices for actual trades are probably different. Our objective is to share information, not make markets in publicly traded securities. Nothing in the TCR constitutes an offer or solicitation to buy or sell any security of any kind. It is likely that some entity affiliated with a TCR editor holds some position in the issuers public debt and equity securities about which we report. Each Tuesday edition of the TCR contains a list of companies with insolvent balance sheets whose shares trade higher than $3 per share in public markets. At first glance, this list may look like the definitive compilation of stocks that are ideal to sell short. Don't be fooled. Assets, for example, reported at historical cost net of depreciation may understate the true value of a firm's assets. A company may establish reserves on its balance sheet for liabilities that may never materialize. The prices at which equity securities trade in public market are determined by more than a balance sheet solvency test. On Thursdays, the TCR delivers a list of recently filed Chapter 11 cases involving less than $1,000,000 in assets and liabilities delivered to nation's bankruptcy courts. The list includes links to freely downloadable images of these small-dollar petitions in Acrobat PDF format. Each Friday's edition of the TCR includes a review about a book of interest to troubled company professionals. All titles are available at your local bookstore or through Amazon.com. Go to http://www.bankrupt.com/books/to order any title today. Monthly Operating Reports are summarized in every Saturday edition of the TCR. The Sunday TCR delivers securitization rating news from the week then-ending. TCR subscribers have free access to our on-line news archive. Point your Web browser to http://TCRresources.bankrupt.com/and use the e-mail address to which your TCR is delivered to login. ********* S U B S C R I P T I O N I N F O R M A T I O N Troubled Company Reporter is a daily newsletter co-published by Bankruptcy Creditors Service, Inc., Fairless Hills, Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA. Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine Tumanda, Valerie Udtuhan, Howard C. Tolentino, Carmel Paderog, Meriam Fernandez, Joel Anthony G. Lopez, Cecil R. Villacampa, Sheryl Joy P. Olano, Psyche A. Castillon, Ivy B. Magdadaro, Carlo Fernandez, Christopher G. Patalinghug, and Peter A. Chapman, Editors. Copyright 2017. All rights reserved. ISSN: 1520-9474. This material is copyrighted and any commercial use, resale or publication in any form (including e-mail forwarding, electronic re-mailing and photocopying) is strictly prohibited without prior written permission of the publishers. Information contained herein is obtained from sources believed to be reliable, but is not guaranteed. The TCR subscription rate is $975 for 6 months delivered via e-mail. Additional e-mail subscriptions for members of the same firm for the term of the initial subscription or balance thereof are $25 each. For subscription information, contact Peter A. Chapman at 215-945-7000 or Nina Novak at 202-362-8552. *** End of Transmission ***