TCR_Public/180303.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Saturday, March 3, 2018, Vol. 22, No. 61

                            Headlines

BREITBURN ENERGY: Incurs $25.9MM Net Loss in January
KATY INDUSTRIES: Files November & December 2017 Monthly Reports
PHASERX INC: Incurs $821,526 Net Loss in January

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BREITBURN ENERGY: Incurs $25.9MM Net Loss in January
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BankruptcyData.com reported that Breitburn Energy Partners filed
with the U.S. Bankruptcy Court a monthly operating report for
January 2018. For the month, the Debtors reported a net loss of
$25.9 million on $46.6 million in total revenue and paid $9.2
million in net reorganization items; $7 million in general and
administrative expenses and $18.5 million in depreciation,
depletion and amortization. Cash at the beginning of January 2018
was $8 million and $7 million at month's end, with negative net
cash flow of $1 million.

                     About Breitburn Energy

Breitburn Energy Partners LP is engaged in the acquisition,
exploitation and development of oil and natural gas properties,
Midstream Assets, and a combination of ethane, propane, butane and
natural gasoline that when removed from natural gas become liquid
under various levels of higher pressure and lower temperature, in
the United States.  Operations are conducted through Breitburn
Parent's wholly-owned subsidiary, Breitburn Operating LP, and
BOLP's general partner, Breitburn Operating GP LLC.

Breitburn Energy Partners LP and 21 of its affiliates filed
voluntary petitions for relief under Chapter 11 of the Bankruptcy
Code (Bankr. S.D.N.Y. Lead Case No. 16-11390) on May 15, 2016,
listing assets of $4.71 billion and liabilities of $3.41 billion.  
The petitions were signed by James G. Jackson, executive vice
president and chief financial officer.

The Debtors tapped Ray C Schrock, Esq., and Stephen Karotkin, Esq.,
at Weil Gotshal & Manges LLP, as bankruptcy counsel.  The Debtors
hired Steven J. Reisman, Esq., and Cindi M. Giglio, Esq., at
Curtis, Mallet-Prevost, Colt & Mosle LLP as their conflicts
counsel.  The Debtors tapped Alvarez & Marsal North America, LLC,
as financial advisor; Lazard Freres & Co. LLC as investment banker;
and Prime Clerk LLC as claims and noticing agent.

An Official Committee of Unsecured Creditors been formed in the
case.  The Creditors Committee retained Milbank, Tweed, Hadley &
McCloy LLP as counsel.  The committee members are: (1) Transpecto
Transport Co.; (2) Wilmington Trust Company; and (3) Ronald Jay
Lichtman.  The U.S. Trustee originally appointed Ares Special
Situations Fund IV, L.P. C/O Ares Management LLC; BPC UKI LP C/O
Beach Point Capital Management; and Wexford Spectrum Investors,
LLC, as members of the Creditors' Committee.  The U.S. Trustee then
also appointed Transpecto Transport Co. and Wilmington Trust
Company as Committee members.

A Statutory Committee of Equity Security Holders was also formed in
the case.  The Equity Committee is currently composed of seven
individual holders.  The Equity Committee retained Proskauer Rose
LLP as counsel.


KATY INDUSTRIES: Files November & December 2017 Monthly Reports
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BankruptcyData.com reported that Katy Industries filed with the
U.S. Bankruptcy Court separate monthly operating reports for
November and December 2017. For November 2017, the consolidated
Debtors reported a net loss of $680,459 on zero net sales, paid
$675,845 in professional fees, $678,845 in total reorganization
expenses and $1,096 in total selling and administrative expenses.
Total Debtors' cash at the beginning of November 2017 was $3.6
million and $2.8 million at month's end, with negative net cash
flow of $795,791.  Total Debtors also reported cash disbursements
of $740,459 on $55,332 in cash receipts.  For December 2017, the
consolidated Debtors reported a net loss of $546,476 on zero net
sales, paid $549,187 in professional fees and total reorganization
expenses and $5,074 in total selling and administrative expenses.
Total Debtors' cash at the beginning of December 2017 was $2.8
million and $2.2 million at month's end, with negative net cash
flow of $550,332.  Total Debtors also reported cash disbursements
of $597,587 on $47,255 in cash receipts.

                    About Katy Industries

Katy Industries, Inc. -- http://www.katyindustries.com/-- a
publicly traded Delaware corporation, and its wholly-owned direct
and indirect subsidiaries were organized as a Delaware corporation
in 1967.  The Company is a well-known manufacturer, importer, and
distributor of commercial cleaning and consumer storage products as
well as a contract manufacturer of structural foam products.  It
distributes its products across the United States and Canada.   It
is best known for such brands as Continental, Huskee, Color Guard,
Wilen, Muscle Mop, Contico, Tuffbin, and SilverWolf, among many
others.

The Company operates three manufacturing facilities located in
Jefferson City, Missouri, Tiffin, Ohio, and Fort Wayne, Indiana,
with its corporate headquarters located in St. Louis, Missouri.

Katy Industries, Inc., and its affiliates filed a voluntary
petition for relief under the Bankruptcy Code (Bankr. D. Del. Lead
Case No. 17-11101) on May 14, 2017.  In the petition signed by CRO
Lawrence Perkins, Katy Industries disclosed $821,321 in assets and
$58,421,346 in liabilities.

Stuart M. Brown, Esq., at DLA Piper LLP (US), is the Debtors'
bankruptcy counsel. JND Corporate Restructuring is the claims and
noticing agent.

M.J. Renick & Associates LLC has been appointed by the Court as fee
examiner.

On July 31, 2017, the Office of the U.S. Trustee formed a committee
of retirees.  The Retirees' Committee hired Womble Carlyle
Sandridge & Rice, LLP as legal counsel.


PHASERX INC: Incurs $821,526 Net Loss in January
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BankruptcyData.com reporte dthat PhaseRx Inc. filed with the U.S.
Bankruptcy Court a monthly operating report for January 2018. For
the month, the Debtors reported a net loss of $821,526 and paid
$821,608 in total operating expenses. Cash at the beginning of
January 2018 was $1 million and $942,575 at month's end.

                      About PhaseRx, Inc.

Based in Seattle, Washington, PhaseRx -- http://phaserx.com--  
operates as a biopharmaceutical company that develops a portfolio
of mRNA products to correct inherited, life-threatening liver
diseases in children.  The company was founded by Robert W.
Overell, Ph.D. in 2006.

PhaseRx filed a Chapter 11 petition (Bankr. D. Del. Case No.
17-12890) on December 11, 2017. The petition was signed by Robert
W. Overell, Ph.D., president and CEO.  As of Sept. 30, 2017, the
Debtor disclosed $4.10 million in assets and $5.60 million in
liabilities.

Judge Christopher S. Sontchi presides over the case.

Christopher A. Ward, Esq. and Shanti M. Katona, Esq., at Polsinelli
PC, serve as counsel to the Debtor.  Cowen and Company, LLC is the
Debtor's investment banker. Donlin, Recano & Company, Inc. stands
as the Debtor's claims and noticing agent.


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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.

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