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         T R O U B L E D   C O M P A N Y   R E P O R T E R

              Friday, August 10, 2018, Vol. 22, No. 221

                            Headlines

1075 S YUKON: Bid to Repurchase Colorado Property from CPI Junked
17/21 GROUP: $34K Sale of Clothing Inventory Approved
22 MAPLE STREET: Taps Blueprint Healthcare as Real Estate Broker
A & A INTERNATIONAL: Ruling Allowing CDL to Reform Agreement Upheld
ACI WORLDWIDE: S&P Rates $300MM Unsecured Notes Due 2026 'BB'

ADAMIS PHARMACEUTICALS: Incurs $9.7M Net Loss in Second Quarter
ALAMO TOWERS: Files Chapter 11 Plan of Liquidation
AMC ENTERTAINMENT: S&P Lowers ICR to 'B', Outlook Stable
AMERIFLEX ENGINEERING: Ch. 11 Plan Violated Absolute Priority Rule
AMYRIS INC: Reports Preliminary Second Quarter Results

ARABELLA EXPLORATION: Sept. 18 Auction of All Assets Set
ARETEC GROUP: S&P Assigns B- Issuer Credit Rating, Outlook Stable
AVOLON HOLDINGS: S&P Affirms 'BB+' ICR, Outlook Stable
BAILEY'S EXPRESS: Plan Admin Taps Shapiro as Special Counsel
BICOM NY: Files Chapter 11 Joint Plan of Liquidation

BK RACING: Trustee's Aug. 21 Sale of All Assets Set
BLACK BOX: Gets Extension for Business Unit Sale
BLUE BEE: Hires Ernest A. Martz as Special Labor Litigation Counsel
BROOKSTONE COMPANY: Taps Omni Management as Claims Agent
CAESARS ENTERTAINMENT: Renaissance Can't Enforce Stockton Claims

CALHOUN SATELLITE: Taps Eric Bononi as Accountant
CAPTAIN NEMOS: Unsecureds to Receive 100% in 60 Monthly Payments
CAREY CRUTCHER: Allowed Claims to be Paid from HMC Loan
CASHMAN EQUIPMENT: Insurers Object to First Amended Plan Outline
CHRISTOPHER RIDGEWAY: Court Allows SC, HOC's $3MM Unsecured Claim

CI CONCRETE: Sale of Assets to Lottman Carpenter Approved
CKSB LLC: $2.8M Sale of San Bernardino Property Approved
COCRYSTAL PHARMA: Incurs $1.34 Million Net Loss in Second Quarter
COLONIAL PENNIMAN: Taps Howard Hanna as Real Estate Agent
COMPUWARE CORP: S&P Affirms B Issuer Credit Rating, Outlook Stable

COMSTOCK RESOURCES: Reports Second Quarter 2018 Results
CONTESSA PREMIUM: Former CEO Obligated to Pay Ex-wife $30K Monthly
CPI HOLDCO: S&P Affirms 'B' Corporate Credit Rating, Outlook Stable
CURO GROUP: S&P Alters Outlook to Positive & Affirms 'B-' ICR
DOREL MITRUT: Sale of Property Denied Without Prejudice

DRIVETIME AUTOMOTIVE: S&P Lowers ICR to 'B-', Outlook Stable
EDEN HOME: Taps Gravely & Pearson as Special Counsel
EDEN HOME: Taps Langley & Banack as Special Counsel
ENERGY FUTURE: NextEra's $60MM Admin Expense Claim Disallowed
FANNIE MAE & FREDDIE MAC: Are FHFA & the GSEs Government Actors?

FARWEST PUMP: Plan Modifies Treatment of Lawyer's Secured Claim
FORASTERO INC: Plan Provides 2 Alternative Payments to Citibank
FRONTDOOR INC: Moody's Rates New Senior Unsecured Notes 'B2'
FRONTERA GENERATION: S&P Assigns 'BB' Rating on Secured Term Loan B
GOGO INC: Incurs $37.2 Million Net Loss in Second Quarter

GOGO INC: Will Sell $100 Million Worth of Securities
H N HINCKLEY: Private Sale of Tisbury Property Approved
HAGGEN HOLDINGS: 3rd Cir. Affirms Approval of APA
HALCON RESOURCES: S&P Alters Outlook to Negative & Affirms B- ICR
HERBALIFE NUTRITION: S&P Rates New $400MM Unsec. Notes Due 2026

HERITAGE HOME: Taps Kurtzman Carson as Administrative Advisor
HLS PHARMACIES: $56K Sale of Medical Equipment to Orr Approved
HLS PHARMACIES: $600K Sale of Medical Equipment to Williams Okayed
HOOK AND BOIL: Sale of 2016 Chevrolet Tahoe Approved
HORNED DORSET: ITC Violated Automatic Stay, Court Rules

ICONIX BRAND: Reports Second Quarter Net Loss of $79.4 Million
INDUSTRIAL STRENGTH: Lease of Non-Residential Property Approved
ITM ENTERPRISES: $520K Sale of Interest in Golden Chick Approved
JHL INDUSTRIAL: Taps Houlihan & Associates as Accountant
KOSMOS ENERGY: S&P Puts 'B' Issuer Credit Rating on Watch Positive

KSA INVESTMENTS: Trustee Taps IMC as Property Manager
LAKEPOINT LAND: Plan Proposes Formation of New HoldCo
LIBERTY ASSET: $75K Sale of Duarte Property Approved
MACAVITY COMPANY: Court Won't Review Integra Fee Reduction
MACOM TECHNOLOGY: Moody's Cuts CFR to B2 & Alters Outlook to Stable

MANUS SUDDRETH: $17K Sale of Silverlake's Baltimore Property Okayed
MATADOR RESOURCES: Moody's Rates New $700MM Senior Notes 'B2'
MATADOR RESOURCES: S&P Assigns 'BB-' Rating on $700MM Unsec. Notes
MICHAEL LEVITZ: Sale of Seattle Vacant Parcel for $600K Approved
MS DIAGNOSTIC: Trustee Taps Hahn Fife as Accountant

N & B MANAGEMENT: Trustee Taps Francis Corbett as Special Counsel
NAVEX TOPCO: S&P Assigns 'B-' Issuer Credit Rating, Outlook Stable
NEIGHBORS LEGACY: Committee Taps Cole Schotz as Legal Counsel
NEOVASC INC: Incurs $49.1 Million Net Loss in Second Quarter
NEOVASC INC: Will Present at Annual Canaccord Conference on Aug. 9

NOVAN INC: Incurs $7.57 Million Net Loss in Second Quarter
OFFSHORE SPECIALTY: Panel to File Amended Plan Outline by Aug. 24
OSBORN TAVERN: Taps Cote Law Offices as Litigation Counsel
OVERSEAS SHIPHOLDING: Dist. Court Dismisses Suit vs Teichman, T&T
PACIFIC DRILLING: Restructuring Transactions Disclosed in Exit Plan

PENSKE AUTOMOTIVE: Moody's Hikes CFR to Ba1, Outlook Stable
PNEUMA INTERNATIONAL: Creditors Oppose Amended Plan, Disclosures
PROMIA INCORPORATED: Case Summary & 14 Unsecured Creditors
QUOTIENT LIMITED: CEO & Chairman Subscribe 55,000 Ordinary Shares
R. HASSELL HOLDING: Employment of Ritchie Bros. as Auctioneers OK'd

RBW SD: Plan Proposes to Pay Unsecured Creditors 84% of Claims
RECORDED BOOKS: S&P Assigns 'B-' ICR, Outlook Stable
RONNIE WHITEFIELD: $48K Sale of 2009 Sea Ray Sundeck Boat Approved
ROSS ELITE: $1.1M Sale of Redwood Property to Santana Approved
RWRF INC: $60K Sale of Promissory Notes to Perlmutter Approved

SEAWORLD PARKS: S&P Alters Outlook to Stable & Affirms 'B' ICR
SECOND PHOENIX: Brown Meadow to Get No Distribution Under New Plan
SECOND PHOENIX: Selling New York Properties for $17 Million
SENIOR COMMUNITY: $3.9M Private Sale of Long Beach Property Granted
SHAHRIAR ZARGAR: B. Shadsirat's 2nd Suit Remanded to State Court

SOCAL INVESTMENTS: Aframian Buying El Vago Property for $3.2M
SOLAR CAPITAL: S&P Lowers ICR to 'BB+', Outlook Stable
SPANISH BROADCASTING: Expects $34.5M to $34.8M 2nd Quarter Revenue
STEVEN DAVIS: Sale of Forth Worth Property Approved
TALEN ENERGY: S&P Alters Outlook to Neg. on Weaker Credit Metrics

TECHNICAL COMMUNICATIONS: Reports Q3 Net Income of $243,000
TOWER PROPERTIES: $460K Sale of Gretna Property to CAL Approved
TOYS R US: Affiliates Tap Fox Rothschild as Conflicts Counsel
TPC FAMILY MEDICINE: Case Summary & 14 Unsecured Creditors
TRAVEL LEADERS: Moody's Rates New Term Loan 'B2', Outlook Stable

TRAVEL LEADERS: S&P Alters Outlook to Negative & Affirms 'B+' ICR
TSI HOLDINGS: QuickLiquidity Approved as Stalking Horse Bidder
UNITED CHARTER: Taps CJ & Associates as Special Counsel
UNITED PLASTIC: $4K Sale of Remnant Assets to Oak Point Approved
VANTAGE CORP: $500K Sale of All Assets to Sunrise IQ Approved

VICTORY OUTREACH: Sale of Real Property Denied Without Prejudice
VON DIRECTIONAL: Committee Taps Haynes and Boone as Legal Counsel
W. JOSHUA: Voluntary Chapter 11 Case Summary
WARWICK PROPERTIES: $1.2M Sale of Arroyo Grande Property Approved
WESTERN GAS: Moody's Rates New Sr. Notes 'Ba1', Outlook Stable

WESTINGHOUSE ELECTRIC: Landstar Entities Proper Owners of Claims
WESTMORELAND COAL: Reports $186.1 Million Second Quarter Net Loss
WOODBRIDGE GROUP: Unsecs. to Recoup 60%-70% Under Liquidation Plan
WWEX UNI: S&P Raises Issuer Credit Rating to 'B', Outlook Negative
[*] Discounted Tickets for 2018 Distressed Investing Conference!

[^] BOOK REVIEW: AS WE FORGIVE OUR DEBTORS

                            *********

1075 S YUKON: Bid to Repurchase Colorado Property from CPI Junked
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Bankruptcy Judge Michael E. Romero denied Debtor 1075 S Yukon LLC's
combined motion to approve (i) Debtor's Purchase and Sale Agreement
for the Commercial Real Estate Located at 1075 S. Yukon St.
(Repurchase) as Amended; (ii) and Post-petition Loans.

There is no dispute concerning the parties' relationship prior to
the bankruptcy case or with respect to the essential terms of the
contract at issue. On or about Feb. 14, 2018, the Debtor sold real
property located at 1075 South Yukon Street, Lakewood, Colorado
80226 to Corporate Properties, Inc. for $1,400,000. That same day,
the Debtor and CPI entered into a second agreement that, generally,
gave the Debtor an option to repurchase the Property from CPI if
certain conditions were met.

On the date the Debtor's option under the Repurchase Agreement was
set to expire, the Debtor, CPI and a third-party assignee of the
purchase option entered into an amended Repurchase Agreement
extending the deadline for the Debtor, or the third-party assignee,
to purchase the Property from CPI.

The Debtor admits it was unable to obtain financing to purchase the
Property by the deadline of 5:00 p.m. MST on May 31, 2018. The
Debtor filed its voluntary Chapter 11 bankruptcy petition at
approximately 4:00 p.m. on May 31, 2018.

The Motion, filed 43 days after the petition date and the May 31,
2018 deadline, seeks the Court's approval to purchase the Property
pursuant to the Amended Agreement and compel CPI to sell the
Property to the Debtor for the $1,750,000 option price. To
accomplish the purchase, the Debtor also seeks authority from the
Court to borrow the total sum of $1,975,916 from two lenders whose
loans will be secured by deeds of trust against the Property.

Despite the timing of the Motion, the Debtor asserts it is
permitted to exercise its option to purchase the Property by
operation of 11 U.S.C. section 108(b).

CPI objects to the Debtor's attempt to purchase the Property,
arguing the Debtor's use of section 108(b) to extend the purchase
option deadline under the Amended Agreement is not supported by the
law of this Circuit, the plain language of section 108(b) or its
legislative history. Further, CPI contends permitting the Debtor to
modify the terms of the Amended Agreement to extend the purchase
option deadline is contrary to public policy.

After reviewing the parties' agreements, the case law cited by the
parties in their briefs and considering the arguments made to the
Court at the hearing on this matter, the Court concludes the
Debtor’s right to exercise the purchase option contained in the
Amended Agreement was not automatically extended by operation of
section 108(b).

The Court does not believe the "any other similar act" catch-all
provision is to be read so broadly as to expand section 108(b)'s
application to acts, including the exercise of an expired purchase
option, having no similarity to or commonality with those listed.
Absent clearer guidance from the Tenth Circuit or the Supreme
Court, this Court does not see itself free to expand the language
of section 108(b) to include acts, or "similar acts," beyond what
Congress has written into the Code.

The Court is also not willing, or able, to re-write the terms of
the Repurchase Agreement to give the Debtor greater rights under
that document than it would have if it had not filed for
bankruptcy. The terms of the Repurchase Agreement, including the
deadline to exercise the option and the provision expressly
providing that time is of the essence, were negotiated and agreed
upon by the parties. The Repurchase Agreement governs the
respective rights of the parties and the Debtor has no ability to
now exercise the purchase option because the Repurchase Agreement
terminated by its own terms. Section 108(b) does not extend that
right.

A full-text copy of the Court's Order dated July 30, 2018 is
available at:

        http://bankrupt.com/misc/cob18-14781-56.pdf

                  About 1075 S Yukon LLC

1075 S Yukon LLC is a privately owned company whose principal
assets are located at 900 East Mexico Avenue, Suite 530 Denver, CO
80210.

1075 S Yukon LLC filed its Voluntary Petition pursuant to Chapter
11 of the Bankruptcy Code (Bankr. D. Colo. Case No. 18-14781) on
May 31, 2018.  In the petition signed by Diva Lauren, authorized
representative, the Debtor estimated $1 million to $10 million in
both assets and liabilities.  Judge Michael E. Romero is the case
judge.  Jeffrey S. Brinen, Esq., at KUTNER BRINEN, P.C., is the
Debtor's counsel.


17/21 GROUP: $34K Sale of Clothing Inventory Approved
-----------------------------------------------------
Judge Robert Kwan of the U.S. Bankruptcy Court for the Central
District of California authorized The 17/21 Group, LLC's Asset
Purchase Agreement with Brand New Start, Inc. in connection with
the sale of its scheduled ownership of finished clothing inventory
comprising, in part, approximately 16,554 pairs of jeans, 1,271
"quick turn" women's tops and 1,842 "quick turn" women's t-shirts,
for $34,423.

A hearing on the Motion was held on July 31, 2018 at 2:30 p.m.

The sale of the Inventory is "as is-where is" without warranties of
any kind, express or implied being given by the Debtor, and such
sale is free and clear of any and all liens, claims, and
interests.

In recognition of the need to effectuate a closing of the sale as
quickly as possible, notwithstanding Federal Rule of Bankruptcy
Procedure 6004(h), the Order is effective immediately.

                     About The 17/21 Group

The 17/21 Group LLC's line of business includes the wholesale
distribution of women's, children's, and infants' clothing and
accessories.  The Company posted gross revenue of $15.69 million in
2017 and gross revenue of $13.34 million in 2016. The Company's
principal place of business is located at 4700 S Boyle Ave, Suite
A, Los Angeles California.

The 17/21 Group, LLC, based in Simi Valley, CA, filed a Chapter 11
petition (Bankr. C.D. Cal. Case No. 18-13300) on March 26, 2018.
In the petition signed by CEO Michael Geliebter, the Debtor
disclosed $473,637 in assets and $1.78 million in liabilities.  The
Hon. Robert N. Kwan presides over the case.  Brett Ramsaur, Esq.,
at Ramsaur Law Office, serves as bankruptcy counsel.


22 MAPLE STREET: Taps Blueprint Healthcare as Real Estate Broker
----------------------------------------------------------------
22 Maple Street, LLC seeks approval from the U.S. Bankruptcy Court
for the Eastern District of New York to hire real estate broker
Blueprint Healthcare Real Estate Advisors, LLC.

The firm will assist the company and its affiliates in connection
with the sale of their real properties located at 22 Maple Street,
Amesbury, Massachusetts; 25 Oriol Drive, Worcester, Massachusetts;
and 59 Coolidge Road, Watertown, Massachusetts.

The listing agreements provide a brokerage commission formula based
upon a 1% to 2% commission.    

Steve Thomes, managing director of Blueprint, disclosed in a court
filing that his firm does not hold any interest adverse to the
Debtors' estates.

The firm can be reached through:

     Steve Thomes
     Blueprint Healthcare Real Estate Advisors, LLC
     Baltimore, MD
     Phone: (202) 400-2279
     Email: sthomes@blueprintHCRE.com

                       About 22 Maple Street

22 Maple Street, LLC and affiliates 25 Oriol Drive, LLC, 59
Coolidge Road, LLC, and 20 Kinmonth Road, LLC filed for Chapter 11
bankruptcy protection (Bankr. E.D.N.Y. Case Nos. 18-40816-19) on
Feb. 14, 2018, and are represented by Kevin J Nash, Esq., of
Goldberg Weprin Finkel Goldstein LLP. YC Rubin, chief restructuring
officer, signed the petitions.

The Debtors were organized in 2013 to acquire real property
associated with four nursing homes under the so-called "Villages"
portfolio.  The Properties are each encumbered by a first mortgage
lien and security interest securing four term loans in the original
aggregate balance of $36,856,627, made in March 2014, with Capital
Finance LLC as agent for the syndicated lenders.  Each of the
Debtors is an affiliate of 90 West Street LLC (which sought
bankruptcy protection on Jan. 30, 2018, Case No. 18-40515) and Keen
Equities LLC (which sought bankruptcy protection on Nov. 12, 2013,
Case No. 13-46782.

Each of the Debtors listed their estimated assets as $1 million to
$10 million and estimated liabilities as $10 million to $50
million.


A & A INTERNATIONAL: Ruling Allowing CDL to Reform Agreement Upheld
-------------------------------------------------------------------
In the case captioned CALIENTE DESCANSANDO, LLC., Plaintiff and
Respondent, v. A & A INTERNATIONAL SHIPPING, INC., Defendant and
Appellant, No. B275568 (Cal. App.), the Court of Appeals of
California affirmed the trial court's decision granting Plaintiff
Caliente Descansando's motion to reform the settlement agreement
with  A & A International Shipping.

Caliente entered into a lease agreement with A & A and subsequently
filed suit after A & A failed to pay its rent. Caliente first filed
a breach of guaranty claim followed by an unlawful detainer suit.
The parties ultimately negotiated a global settlement of all
pending cases between the two parties, which encompassed Caliente's
breach of guaranty and unlawful detainer actions, as well as a
first amended cross-complaint A & A had filed against Caliente in
the breach of guaranty case. However, due to a scrivener's error,
the parties' settlement agreement mistakenly stated that a
different cross-complaint--one that the trial court had already
dismissed without leave to amend--would be dismissed as part of the
settlement. When A & A discovered the error, it refused to comply
with the settlement agreement and instead demanded that Caliente
pay substantial additional compensation for the dismissal of A &
A's first amended cross-complaint. Caliente then filed a motion to
reform the settlement agreement to reflect the true and mutual
intent of the parties.

Caliente filed a motion to reform the unlawful detainer stipulation
and judgment and enforce the terms of the global settlement
agreement. The motion sought to correct the error in the attachment
to the unlawful detainer stipulation and judgment form, which
mistakenly stated that Tombu and Gulbinas would be dismissing their
cross-complaint, rather than A & A. To that end, the motion sought
to strike "Anton Tombu and Algis Gulbinas, as individuals" from the
attachment and superimpose "A & A International Shipping, Inc."
over the stricken portion of the attachment. Caliente also
requested that the trial court enforce the terms of the settlement
by ordering a mutual release under section 1542 between Caliente, A
& A, and Tombu and Gulbinas regarding the tenancy at the premises,
the civil action, and the claims in A & A's first amended
complaint.

On April 7, 2016, the trial court granted Caliente's motion to
reform. The court reformed the unlawful detainer stipulation and
judgment by: (1) striking "Anton Tombu and Algis Gulbinas, as
individuals" and superimposing "A & A International Shipping, Inc."
over the stricken portion; (2) ordering a mutual release under
section 1542 between Caliente, A & A, and Tombu and Gulbinas
regarding the tenancy at the premises and the claims set forth in
the unlawful detainer action and civil action, including A & A's
first amended cross-complaint; (3) vacating the judgment entered
against A & A in the unlawful detainer action; (4) dismissing the
unlawful detainer action with prejudice; and (5) dismissing the
civil action, including A & A's first amended cross-complaint, with
prejudice. In so holding, the trial court found that Caliente's
position regarding the intent of the parties when they entered into
the unlawful detainer stipulation and judgment was the correct one.


At the outset, the Appeals Court note that courts must interpret a
contract in a manner that is reasonable and does not lead to an
absurd result. Here, the last paragraph of the parties' unlawful
detainer stipulation and judgment was not clear and explicit, given
that it referred to a nonexistent cross-complaint and would thus
lead to an absurd result. Consequently, interpreting the contract
in the manner encouraged by A & A would not be reasonable.

It defies logic and common sense that Caliente would dismiss its
claim against A & A in the unlawful detainer action and its claim
against Tombu and Gulbinas in the civil action but permit A & A's
first amended cross-complaint to proceed against it. It also defies
belief that Caliente would agree to release a portion of the writ
of attachment funds, set aside the unlawful detainer judgment
against A & A, and dismiss the case with prejudice, yet permit the
A & A's first amended cross-complaint to continue. The trial court
also understood the parties' intent as stated on the record once
negotiations were complete. Indeed, as the court later noted, if
the parties did not intend to settle both the civil action and
unlawful detainer action, it would not have continued the hearing
on the demurrer and motion to strike A & A's first amended
cross-complaint because the settlement would not have affected the
disposition of the first amended cross-complaint.

Based on the objective signs of the parties' mutual intent, it is
clear that this is a classic reformation case. Therefore, the trial
court was empowered to correct the error at issue here by striking
the mistaken language and inserting appropriate language. The trial
court's decision to do so was supported by substantial evidence and
did not constitute an abuse of discretion.

The order granting the motion to reform is, therefore, affirmed. A
& A must pay Caliente’s fees and costs on appeal.

A copy of the Court's Decision dated July 16, 2018 is available at
https://bit.ly/2vLm4Ek from Leagle.com.

Nsahlai Law Firm and Emmanuel Nsahlai for Defendant and Appellant.

Geraci Law Firm, Paul J. Sievers -- Paul.Sievers@geracilawfirm.com
-- Amy E. Martinez -- amy.martinez@geracilawfirm.com -- and Larissa
E. Brane --larissa.branes@geracilawfirm.com -- for Plaintiff and
Respondent.

A & A International Shipping Inc. filed for chapter 11 bankruptcy
protection (Bankr. D. Conn. Case No. 15-31364) on August 14, 2015,
and is represented by Jefferson Hanna, III, Esq.


ACI WORLDWIDE: S&P Rates $300MM Unsecured Notes Due 2026 'BB'
-------------------------------------------------------------
S&P Global Ratings assigned its 'BB' issue-level rating to Naples,
Fla.-based ACI Worldwide Inc.'s $300 million senior unsecured notes
due in 2026. The company will use the proceeds to redeem its senior
unsecured notes due in 2020. S&P rates the new notes the same as
the 'BB' issuer credit rating on the company. The stable outlook is
unchanged.

ISSUE RATINGS -- RECOVERY ANALYSIS

Key analytical factors:

-- S&P assigned its '4' recovery rating to ACI's new senior
unsecured notes.

-- S&P valued the company on a going-concern basis using a 6.5x
multiple of our projected emergence-level EBITDA.

-- S&P estimates that for ACI to default, EBITDA would need to
decline significantly, representing a material deterioration from
the current state of the business.

Simplified waterfall:

-- Net enterprise value (after 5% administrative costs): $24
million
-- Valuation split (obligors/nonobligors): 53%/47%
-- Collateral value available to secured creditors: $689 million
-- Secured first-lien debt: $796 million
-- Collateral value available to unsecured creditor: $136 million
-- Unsecured claims: $417 million
    --Recovery expectations: 30%-50% (rounded estimate: 30%)

  RATINGS LIST

  ACI Worldwide Inc.
   Issuer Credit Rating        BB/Stable/--

  New Rating
  ACI Worldwide Inc.
   Senior Unsecured
    $300mil notes due 2026     BB
     Recovery Rating           4 (30%)


ADAMIS PHARMACEUTICALS: Incurs $9.7M Net Loss in Second Quarter
---------------------------------------------------------------
Adamis Pharmaceuticals Corporation has filed with the Securities
and Exchange Commission its Quarterly Report on Form 10-Q reporting
a net loss of $9.70 million on $3.92 million of net revenue for the
three months ended June 30, 2018, compared to a net loss of $4.97
million on $3.80 million of net revenue for the three months ended
June 30, 2018.

For the six months ended June 30, 2018, the Company reported a net
loss of $17.32 million on $7.09 million of net revenue compared to
a net loss of $10.74 million on $6.84 million of net revenue for
the six months ended June 30, 2017.

As of June 30, 2018, Adamis had $39.35 million in total assets,
$13.95 million in total liabilities and $25.39 million in total
stockholders' equity.

The Company's cash was $4,422,059 and $18,332,702 at June 30, 2018
and Dec. 31, 2017, respectively, including approximately $1.0
million in restricted cash held by the Bear State Bank, N.A. as
collateral for a $2.0 million working capital line.  

"The Company has significant operating cash flow deficiencies.
Additionally, the Company will need significant funding for future
operations and the expenditures that it believes will be required
to support commercialization of its products and conduct the
clinical and regulatory activities relating to the Company's
product candidates, satisfy existing obligations and liabilities,
and otherwise support the Company's intended business activities
and working capital needs.  The preceding conditions raise
substantial doubt about the Company's ability to continue as a
going concern.  Management's plans include attempting to secure
additional required funding through equity or debt financings,
sales or out-licensing of intellectual property assets, seeking
partnerships with other pharmaceutical companies or third parties
to co-develop and fund research, development or commercialization
efforts, or similar transactions.  There is no assurance that the
Company will be successful in obtaining the necessary funding to
meet its business objectives," the Company stated in the Quarterly
Report.

A full-text copy of the Form 10-Q is available for free at:

                    https://is.gd/q7aXYx

                        About Adamis

San Diego, Calif.-based Adamis Pharmaceuticals Corporation
(OTCQB:ADMP) -- http://www.adamispharmaceuticals.com/-- is a
specialty biopharmaceutical company focused on developing and
commercializing products in the therapeutic areas of respiratory
disease and allergy.  The company's first product, Symjepi
(epinephrine) Injection 0.3mg, was approved for use in the
emergency treatment of acute allergic reactions, including
anaphylaxis.  Adamis' product pipeline includes HFA metered dose
inhaler and dry powder inhaler products for the treatment of
bronchospasm and asthma.

Adamis incurred a net loss of $25.53 million in 2017 compared to a
net loss of $19.43 million in 2016.  As of March 31, 2018, Adamis
had $43.78 million in total assets, $10.33 million in total
liabilities and $33.44 million in total stockholders' equity.

The report from the Company's independent accounting firm Mayer
Hoffman McCann P.C., in San Diego, California, on the consolidated
financial statements for the year ended Dec. 31, 2017, includes an
explanatory paragraph stating 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.


ALAMO TOWERS: Files Chapter 11 Plan of Liquidation
--------------------------------------------------
Alamo Towers - Cotter, LLC, filed a disclosure statement regarding
its plan of liquidation dated July 31, 2018.

Class 7 under the plan consists of the general unsecured claims.
The Debtor will sell the Property. The Allowed Claims of the Class
7 creditors will be paid a sum in Cash up to the Allowed Amount of
their claims with a Pro Rata distribution of the Registry Funds
(being proceeds from the sale of the Property) remaining after
payment of the Allowed Claims of creditors in Classes 1 through 6,
and taxes which are  determined to be due and owing as a result of
the sale of the Property.

If the Debtor has not already closed on the sale of the Alamo
Towers Property on or before the Effective Date, the Debtor will
continue to employ a broker to market the Property for sale, and
such Property will be free and clear of any and all liens,
encumbrances and alleged interests in the Property. The proceeds
from the sale of the Property will be paid into the registry of the
Court and held until further order of the Court authorizing
distribution of such proceeds.

The Plan will be funded from the Debtor's available Cash, the
Property Sales Proceeds, and the Registry Funds. Any payments due
on or within 30 days of the Effective Date will be paid from funds
held in the registry of the Court.

A full-text copy of the Disclosure Statement is available at:

     http://bankrupt.com/misc/txwb17-52599-75.pdf

                  About Alamo Towers - Cotter

Alamo Towers - Cotter, LLC, owns an eight-story low-rise building
in San Antonio, Texas.  Located in the heart of the north central
office market, Alamo Towers is centrally accessible to all key
activities in the city.  The 198,452 sq. ft. facility features easy
access to San Antonio's major highways, panoramic views and ample
parking space.  

Alamo Towers - Cotter filed a Chapter 11 petition (Bankr. W.D. Tex.
Case No. 17-52599) on Nov. 6, 2017.  In the petition signed by
Marcus P. Rogers, as Ind. Adm. Of the Est. of James F. Cotter,
Dec'd, the Debtor estimated assets and liabilities at $10 million
to $50 million each.

The case is assigned to Judge Craig A. Gargotta.

The Debtor is represented by Anthony H. Hervol, Esq., of the Law
Office of Anthony H. Hervol.  

No trustee or examiner has been appointed in the Debtor's Chapter
11 case.


AMC ENTERTAINMENT: S&P Lowers ICR to 'B', Outlook Stable
--------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on Kansas-based
motion picture exhibitor AMC Entertainment Holdings Inc. to 'B'
from 'B+'. The outlook is stable.

S&P said, "At the same time, we lowered our issue-level rating to
'BB-' from 'BB' on AMC's senior secured debt and 'B' from 'B+' on
the subordinated debt. The '1' recovery rating on the senior
secured debt, indicating very high (90%-100%; rounded estimate:
95%) recovery of principal in the event of default, and the '4'
recovery rating, indicating average recovery (30%-50%; rounded
estimate: 35%) on the subordinated debt, are the same.

"The downgrade reflects our expectation that discretionary cash
flow could turn negative for the full year 2018 and leverage will
remain elevated around 6x over the next 2-3 years. Leverage, which
was in the low-6x area as of June 30, 2018, increased as a result
of debt-financed acquisitions, integration challenges, and higher
lease obligations. While the company has sold roughly $500 million
in nonstrategic assets, the move does little to reduce leverage
given the extremely high lease-adjusted obligations, especially in
light of the company's use of a portion of proceeds for share
repurchases. Cash flow also remains strained due to very high
capital spending plans. We expect discretionary cash flow for the
full year 2018 to be negative by around $25 million-$75 million due
to the company's high interest burden and capital spending
necessary to remain competitive.

"The stable outlook on AMC reflects the expectation that while
discretionary cash flow could be slightly negative, we expect the
company has adequate sources of liquidity to support operations
over the next 2-3 years.

"We could lower the rating if the company's leverage increases
above 6.5x on a sustained basis as a result of box office declines
or debt-financed acquisitions, which we expect would cause cash
flow to decline to a point that the company may need to cut back on
growth capital spending. A reduction in growth capital spending may
cause a further deterioration of the company's competitive position
in the market and put additional pressure on already thin cash
flow.

"We could raise the rating if AMC reduces leverage toward 5x. Given
the limited cash flow of the company, we expect this would likely
entail a significant reduction in capital spending and an equity
infusion or 20% increase in EBITDA, which we view as unlikely. This
would also entail a more conservative financial policy with a
commitment to maintaining more moderate leverage."



AMERIFLEX ENGINEERING: Ch. 11 Plan Violated Absolute Priority Rule
------------------------------------------------------------------
Bankruptcy Judge Thomas M. Renn denied confirmation of Ameriflex
Engineering LLC's proposed chapter 11 plan.

Michael Zoller, the only objecting creditor in this case, raised
several objections to confirmation of Ameriflex's Plan and approval
of its Disclosure Statement. At the hearing, counsel for Mr. Zoller
discussed several problems with the disclosure statement (section
1l29(a)(2)) and the best interest calculation (section 1129(a)(7)).
Mr. Zoller's primary objection, however, and the emphasis of the
discussion at the confirmation hearing pertains to the fair and
equitable requirement of section 1129(b).

Section 1129(b)(1) provides that, when an impaired class votes to
reject a plan, the court shall confirm the plan notwithstanding the
rejection "if the plan does not discriminate unfairly, and is fair
and equitable, with respect to each class of claims" that is
impaired and that has rejected the plan. If the dissenting
unsecured class is not paid in full, no junior interest may retain
or receive anything under the plan on account of such interest.
This is the so-called absolute priority rule.

Upon analysis, Judge Renn finds that the absolute priority rule
applies in this case and that Ameriflex's Plan giving Pacific
Diamond and Precious Metals, Inc. (through Ameri-Fab) the exclusive
opportunity to purchase its assets violates the rule. The Plan also
falls short of the requirements under LaSalle for satisfaction of
the new value corollary. The Debtor's failure to satisfy section
1129(b) provides a sufficient basis for the Court to deny
confirmation. As such, the Court need not make findings or
determinations as to the other objections to confirmation raised by
Mr. Zoller or whether to approve the Disclosure Statement.

With the expiration of Ameriflex's exclusivity period and denial of
confirmation of its Plan, interested parties are now free to file
competing plans. If Ameriflex or Mr. Zoller wish to file an amended
plan or, in the alternative, pursue confirmation of a
previously-filed plan, they have until Sept. 14, 2018, to file the
amended plan or a motion to take other action.

A full-text copy of the Court's Decision dated July 31, 2018 is
available at:

     http://bankrupt.com/misc/orb17-60837-11-363.pdf

                About Ameriflex Engineering

Ameriflex Engineering LLC -- http://rhboats.com/-- and
http://fishrite-boats.com/-- is engaged in the design, development
and manufacturing of boats.  The Company was created in 2008 with
the acquisition of the assets of then struggling River Hawk Boats,
Inc.  Cajon, Inc. and Pacific Diamond & Precious Metals each own
50% membership interest in the Company.

Ameriflex Engineering filed a Chapter 11 petition (Bankr. D. Ore.
Case No. 17-60837) on March 22, 2017.  In the petition signed by
Pacific Diamond & Precious Metals, Inc., member, the Debtor
estimated assets and liabilities between $1 million and $10
million.

The case is assigned to Judge Thomas M. Renn.  

The Debtor hired Tara J. Schleicher, Esq., at Farleigh Wada Witt,
as bankruptcy counsel; Ball Janik LLP as special counsel; and
Cramer & Associates as accountant.

No trustee, examiner or committee has been appointed.


AMYRIS INC: Reports Preliminary Second Quarter Results
------------------------------------------------------
Amyris, Inc. announced preliminary unaudited financial results for
the second quarter ended June 30, 2018.

"Overall, we are pleased with our second quarter results as
demonstration that our focus on profitable growth is yielding
results.  Our core products are delivering better than expected
growth at gross margin levels in excess of plan, and we've
significantly reduced our cost infrastructure.  As importantly, we
have advanced a meaningful number of strategic collaborations and
partnerships, establishing a very solid base from which to
accelerate growth into the second half of the year," said John
Melo, Amyris president & CEO.  "Several of these discussions
involve somewhat complex negotiations with our top prospective
partners in China, including one significant partnership we
anticipated closing in the second quarter, yet now expect to close
in the second half.  Despite this near term push, I want to be
clear that we are gaining significant traction in the Chinese
market, and our expected partnerships with some of China's leading
companies now represent a much more significant portion of our
collaboration portfolio.  We are managing the signing of our major
contracts carefully to maximize shareholder value and to ensure we
are working on the best products with the best partner."

Continued Melo, "Our natural sweetener product opportunity gained
significant traction during the second quarter and we have the
customers in place to sell all of our supply over the next three
years.  We anticipate announcing these customers later this year.
We are confident that closing on new collaborations, together with
expected shipments of zero-calorie sugar and our existing pipeline
of business, will propel us through a very strong second half to
close out a solid year."

Other key recent operating and development highlights included:

   * Announced plans to partner with BGI, one of the world's
     largest genomics companies.  The companies intend to apply
     their synthetic biology platforms in a new joint venture to
     discover, develop and commercialize human microbiome-
     targeting health and nutrition products in Greater China.
     
   * Currently in discussions for a total of three significant
     agreements in the China market including one that had been
     expected to close in Q2 2018 and now on track for second half

     2018.  Have commitments for zero-calorie sugar product to
     sell all of supply over next three years to 4 customers.
     
   * Signed Universidade Catolica Portuguesa (UCP) Porto Campus
     and AICEP Portugal Global (AICEP) agreement valued up to $50
     million including investment funding and incentives allotted
     across parties involved.  Amyris believes this is the largest
     biotechnology grant ever awarded in Portugal and one of the
     largest ever approved by AICEP for commercial applications.
     The grant provides funding to explore utilization of waste
     streams from fermentation to develop new products and
     applications while also advancing Amyris's artificial
     intelligence (AI) and Informatics platform.
     
   * Signed production contract with its contract manufacturer,
     Antibioticos de León (ADL Biopharma; MAB:ADL), to expand its

     existing production contract due to demand.
     
   * Successfully launched Biossance brand in Brazil with sales
     doubling expectations within first 6 weeks.
     
   * Biossance brand executing significant expansion with
     agreement to launch across all 668 Sephora Inside JCPenney
     Stores, increasing the store count for Biossance purchases
     from 140 to over 800 locations in the Americas.
     
    * Promoted Caroline Hadfield to president of Biossance in
      recognition of her leading role in Biossance's success and
      appointed Catherine Gore as senior vice president, sales,
      marketing & education.  Both appointments are expected to
      accelerate the company's growth in the clean beauty
      industry, as well as expand Biossance's reach, both
      internationally and online.
     
    * Secured non-dilutive $36 million term loan to pay off
      Stegodon and other short-term debt maturities enabling
      Amyris to resolve its near-term debt maturities.  The term
      loan also includes an additional $35 million accordion
      credit facility that provides Amyris with another option for
      financing construction of its production facility(ies), if
      necessary.  The company now has no other significant debt
      issues to resolve through the rest of the year.

Financial Performance (preliminary unaudited)

Second Quarter 2018

   * GAAP revenue for the second quarter of 2018 was $24.8
     million, compared with $25.7 million for the second quarter
     of 2017.  Grants and collaborations revenue was $11.4 million
     for the second quarter of 2018 compared with $10.3 million
     for the year-ago period. Second-quarter revenue of $24.8
     million compared with the same period in 2017 of $21.7  
     million when adjusted for the low margin product sales on
     contracts assigned to DSM.  This reflects 15% growth on an
     absolute basis.
     
   * Sales, general and administrative expenses were $20.2 million

     for the second quarter of 2018 compared with $15.9 million
     for year-ago period, primarily reflecting continued
     investment in the Company's fastest growing and most
     profitable business activity - Biossance and its natural
     sweetener business.  Research and development expenses of
     $15.3 million for the quarter were up from $14.2 million for
     second-quarter 2017 due to increases in headcount to support
     new partner collaborations.
     
   * GAAP net income attributable to Amyris common stockholders
     for the second quarter of 2018 reflected significantly
     improved profitability from operations and was $2.6 million,
     or $0.05 per basic and $(0.32) per diluted share, compared
     with a GAAP net loss attributable to Amyris common
     stockholders for the second quarter of 2017 of $10.3 million,

     or $0.44 per basic and diluted share.
     
   * Non-GAAP net loss for the second quarter of 2018 was $21.1
     million, or $0.38 per basic and diluted share.  This excluded
     loss from change in fair value of derivative instruments,
     stock-based compensation expense and cumulative dividends on
     preferred stock.  This compared with a non-GAAP net loss of
     $30.5 million, or $1.32 per basic and diluted share for the
     second quarter of 2017.

First Half 2018

   * GAAP revenue for the first half of 2018 was $47.8 million,
     compared with $38.7 million for 2017.  Second-half 2018
     revenue of $47.8 million compared with the same period in
     2017 of $32.3 million when adjusted for the low margin
     product sales on contracts assigned to DSM.  This reflects
     48% growth on an absolute basis.
     
   * GAAP net loss attributable to Amyris common stockholders for
     the first half of fiscal year 2018 was $89.1 million, or
     $1.68 per basic and diluted share.  Included were several
     large non-cash items, including loss from extinguishment of
     debt and a non-cash loss from changes in the fair value of
     derivatives, stock-based compensation expense and
     depreciation.  This compared to a first half fiscal year 2017

     net loss of $47.6 million, or $2.24 per basic and diluted
     share.  Non-GAAP net loss for the first half of fiscal year
     2018, excluding the non-cash items mentioned, was $47.5
     million, or $0.89 per basic and diluted share, compared to a
     non-GAAP net loss for the first half of 2017 of $68.7
     million, or $3.23 per basic and diluted share.

                      About Amyris, Inc.

Amyris, Inc., Emeryville, California, is an industrial
biotechnology company that applies its technology platform to
engineer, manufacture and sell natural, sustainably sourced
products into the health & wellness, clean skincare, and flavors &
fragrances markets.  The Company's proven technology platform
enables the Company to rapidly engineer microbes and use them as
catalysts to metabolize renewable, plant-sourced sugars into large
volume, high-value ingredients.  The Company's biotechnology
platform and industrial fermentation process replace existing
complex and expensive manufacturing processes.  The Company has
successfully used its technology to develop and produce five
distinct molecules at commercial volumes.

The report from the Company's independent accounting firm KPMG LLP,
the Company's auditor since 2017, on the consolidated financial
statements for the year ended Dec. 31, 2017, includes an
explanatory paragraph stating that the Company has suffered
recurring losses from operations and has current debt service
requirements that raise substantial doubt about its ability to
continue as a going concern.

Amyris incurred net losses of $72.32 million in 2017, $97.33
million in 2016 and $217.95 million in 2016.  As of March 31, 2018,
Amyris had $118.2 million in total assets, $404.4 million in total
liabilities, $5 million in contingently redeemable common stock and
a total stockholders' deficit of $291.2 million.


ARABELLA EXPLORATION: Sept. 18 Auction of All Assets Set
--------------------------------------------------------
Judge Russell F. Nelms of the U.S. Bankruptcy Court for the
Northern District of Texas authorized the amended bidding
procedures of Arabella Exploration, LLC and its affiliates in
connection with the sale of substantially all their assets, and of
certain holders' operating wells in Reeves County, Texas, at
auction.

The following Operating Wells are located in Reeves County, Texas:
(i) Graham 1H, API# 42-389-33496; (ii)Locker State 1H, API#
42-389-33483; (iii) Jackson 1H,  API# 42-475-36553; (iv) Emily Bell
1H, API# 42-389-33731; (v) Woods 1H, API#  2-389-33680; and (vi)
Woods 2H, API# 42-389-34154.

The salient terms of the Amended Bidding Procedures are:

     a. Bid Deadline: Sept. 10, 2018 at 5:00 p.m. (CT)

     b. Assets: Each Bid must clearly state which assets and
liabilities of the Debtors that the Qualified Bidders are agreeing
to purchase and assume.  The Assets to be sold will include, but
are not limited to, the Debtors' working interests in the wells
known as "Graham," "Locker State," "Emily Bell," "Woods," and
"Jackson," as well as the working interests of the participating
Non-Ops in said wells. Each Bid must identify which of the
foregoing working interests, or combination thereof, the Qualified
Bidder agrees to purchase and assume.

     c. Purchase Price: Each Bid must clearly set forth the
purchase price in U.S. dollars to be paid for each individual Asset
subject to the applicable Asset package, including and identifying
separately any cash and non-cash components.  Any Purchase Price
under a proposed Bid that includes interests in more than one well
will be expressly allocated on a per well basis.

     d. Deposit: By the Bid Deadline, each Bid must be accompanied
by a cash deposit in the amount equal to 5% of the aggregate cash
and non-cash Purchase Price of the Bid.

     e. Assumption of Obligations:: Each Bid must clearly state
which liabilities of the Debtors (and/or Non-Ops) the Qualified
Bidder is agreeing to assume.

     f. All of the Assets will be transferred "as is, where is" and
"with all faults."

     g. Auction: The Auction will take place at 10:00 a.m. (CT) on
Sept. 18, 2018, at the offices of Murphy Mahon Keffler & Farrier,
LLP, 505 Pecan St. Suite 201, Fort Worth, TX 76102-4061.   The
Debtors will file notice of the winning bidder with the Court by
Sept. 19, 2018.

     h. Bid Increment: $25,000

     i. The Debtors will file notice of the winning bidder with the
Court by Sept. 19, 2018.

     j. Objections, if any, to the Sale of the Assets or the
assumption and assignment of the Assumed and Assigned Contracts,
are due by no later than 5:00 p.m. (CT) on Sept. 25, 2018.

     k. The Sale Hearing will commence on Sept. 27, 2018, at 1:30
p.m. (CT).

As soon as practicable after determination, the Debtors will serve
on all Contract Counterparties the Assumption and Assignment Notice
upon all Notice Parties.  A Contract Counterparty receiving any
such supplemental Assumption and Assignment Notice will have until
the later of (a) the General Objection Deadline or (b) 10 days from
service of the supplemental Assumption and Assignment Notice to
file an objection to the assumption and assignment of its
Contract(s) and/or Lease(s) in accordance with the Assigned
Contract Objection Procedures set forth in the Order.

The Debtors will submit to the Court the proposed order approving
the Sale prior to the Sale Hearing.   

Any stay of the Order, whether arising from Rules 6004 and/or 6006
of the Federal Rules of Bankruptcy Procedure or otherwise, is
expressly waived, and the terms and conditions of the Order will be
effective and enforceable immediately upon its entry.

A copy of the Bidding Procedures attached to the Order is available
for free at:

    http://bankrupt.com/misc/Arabella_Exploration_423_Order.pdf   

                   About Arabella Exploration

Arabella Exploration, LLC, formed on Oct. 2, 2009, is a
wholly-owned subsidiary of Arabella Exploration, Inc., a Cayman
Islands corporation.  It is an oil and gas exploration company that
owns working interests in a number of oil and gas properties and
interests.

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

Arabella Operating, LLC, filed a Chapter 11 petition (Bankr. N.D.
Tex. Case No. 17-41479) on April 4, 2017.  The case is being
jointly administered with that of Arabella Exploration.

Arabella Exploration estimated $1 million to $50 million in assets
and liabilities.

Judge Russell F. Nelms in Ft. Worth, Texas, is the case judge.

Raymond W. Battaglia, Esq., of the Law Offices of Ray Battaglia,
PLLC, serves as counsel to the Debtor.  Miller Johnson serves as
Battaglia's co-counsel.  Rehmann Turnaround and Receivership's
Charles Hoebeke is the Debtor's chief restructuring officer.

No trustee, examiner or committee has been appointed in the case.


ARETEC GROUP: S&P Assigns B- Issuer Credit Rating, Outlook Stable
-----------------------------------------------------------------
S&P Global Ratings said it assigned its 'B-' issuer credit rating
to Aretec Group Inc. The outlook is stable.

S&P said, "At the same time, we assigned our 'B-' issue rating to
the company's proposed first-lien revolving credit facility and
term loan and our 'CCC' rating to the company's proposed
second-lien term loan.

"Our ratings on Aretec Group reflect the company's very weak
capitalization because of a lack of tangible equity, high leverage
(as measured by debt to EBITDA and as defined by the company's
credit agreement), and low profitability compared with peers,
albeit with very limited market or credit risk. It also reflects
the company's relatively weaker market position than some rated
peers, in a stable line of business, because of the lack of a
longer track record of stable performance following the
reorganization, as well as any lasting increased litigation risk or
reputational damage from the recent bankruptcy.

"The issuer credit rating on Aretec Group reflects our belief that
the company will continue to operate with stabilized retention
rates following the acquisition. We expect the company to continue
to operate with a significant amount of negative tangible capital,
as well as with high leverage, as measured by debt to EBITDA, of
4.5x-5.5x over the next 12 months. Although the acquisition by
Genstar increases debt overall for Aretec Group, we look favorably
on the company's ability to establish a more stable capital
structure by getting rid of the prior high-cost debt with interest
rate increases, restrictive covenants, and potential near-term
refinancing risk. Further, the company was able to establish an
undrawn committed revolving credit facility of $100 million, which
we view as necessary financial flexibility given our expectation
that the company will operate with very limited unrestricted cash
on balance sheet (roughly $25 million). The rating also reflects
the structural subordination of the holding company and its
reliance on distributions from the regulated broker-dealers."

Aretec Group operates one of the largest networks of independent
financial advisors in the industry, albeit with a short operating
history as it emerged from bankruptcy on May 23, 2016. Prior to the
bankruptcy, Aretec Group was owned by the financial conglomerate
RCS Capital Corp (RCAP). Aside from the Cetera subsidiaries that
operated independently and were focused on financial advice, the
rest of RCAP was mostly focused on the distribution of alternative
investments. Following legal trouble at RCAP and its affiliated
non-financial advice entities, the company was forced into
bankruptcy. After the reorganization, RCAP was renamed Aretec
Group, Inc., and the company largely replaced the previous
management team with industry veterans and returned its focus
solely on financial advice, which S&P views positively.

As of July 2018, the company now operates through six different
broker-dealers with just under 8,000 producing representatives, and
over $240 billion in client assets. The majority of the company's
assets are custodied at Pershing, although one of the company's
broker-dealers, which represents 19% of the consolidated net
revenue, self clears. Following the reorganization, the company
implemented a one-time adviser retention program to help stabilize
its advisor base, which led to an improvement in the company's
retention rate to roughly 95% in 2017 from 90% in 2015. The
company's recruiting efforts also drove $74 million in recruited
gross dealer concession and net new asset growth of $3.6 billion in
2017 (and an incremental $2.4 billion in the first half of 2018),
further exemplifying the company's improved market position. S&P
also looks favorably on the company's intention to invest in
continued advancements in technology for its advisors as it looks
to take an investor-centric approach, which it believes will
provide long-term benefits to the franchise.

S&P said, "We expect Genstar to enable and encourage Aretec's
management team to continue to invest in the platform, without
making distributions to the private equity fund in the near term.
We expect the company to return its focus to recruiting new
advisors, most likely through the acquisition of smaller
broker-dealers or individual advisors, as opposed to large
acquisitions. The company will further look to grow earnings
through realizing certain synergies through further back-office
consolidation and by using its market position to capture increased
economics from cash sweeps and assets under administration.

"We expect the transaction to close either late third quarter or
early fourth quarter of 2018. The current Cetera management team
will remain in place, and the custodian won't change, providing
relative continuity for advisors.

"Aretec Group operates with very limited market and credit risk, in
our view, with a very small pro forma balance sheet (apart from
goodwill and retention loans). The company has proposed a $775
million first-lien term loan and a $240 million second-lien term
loan in connection with the acquisition. The proposed refinancing
will extend the first-lien maturity date to 2025 from 2020, and the
second-lien maturity to 2026 from 2021. The company's term loans
will no longer contain restrictive covenants. However, the
company's revolver will contain a leverage covenant restricting
more than a 35% increase in leverage from the close of the
acquisition, while we expect the facility to be undrawn at close.

"We rate the senior secured revolver and term loan in line with the
issuer credit rating on the company, and we rate the second-lien
term debt two notches below the issuer credit rating at 'CCC'. The
second-lien term loan is two notches lower because the amount of
second-lien debt is greater than unencumbered adjusted assets, and
we expect priority debt as a percentage of adjusted assets to be
above 30%.

"The stable outlook reflects our belief that over the next 12
months Aretec Group will operate with leverage (as measured by debt
to EBITDA and as defined by the company's credit agreement),
between 4.5x and 5.5x following the close of the acquisition by
Genstar. Further, we expect the company will maintain its
stabilized advisor retention rates and continue to limit its
exposure to market and credit risks.

"We could lower the rating if the company's performance
deteriorates, if covenant cushions or liquidity deteriorate, or if
the company experiences any adverse legislative or regulatory
actions that exceed current expectations.

"We could raise the rating on Aretec if the company is able to
establish a longer track record of stable performance following the
acquisition, which adequate covenant cushions, improved
profitability, and strong net new asset growth would demonstrate.
An upgrade would also depend on the company operating with adequate
liquidity and with leverage below 4.5x."



AVOLON HOLDINGS: S&P Affirms 'BB+' ICR, Outlook Stable
------------------------------------------------------
S&P Global Ratings affirmed all of its ratings on Avolon Holdings
Ltd., including the 'BB+' issuer credit rating. The outlook remains
stable.

S&P said, "The affirmation reflects our view that Avolon's
stand-alone credit profile will not be affected by the proposed
investment by Japanese financial services group ORIX Corp.
(A-/Stable/--), through its wholly owned subsidiary ORIX Aviation
Systems, and the revision of its governance structure. Under the
proposed transaction, ORIX will invest $2.2 billion for a 30% stake
in Avolon. Avolon is currently a wholly owned subsidiary of Bohai
Capital Holding Co. Ltd., which is itself 53% owned by the HNA
Group. Our ratings on Avolon previously incorporated our assessment
of the company as an insulated subsidiary of Bohai and our
assessment of Bohai as de-linked from HNA. However, with the
proposed investment by ORIX and the related revisions to the
company's governance structure (both of which we view favorably),
we would now assess Avolon as de-linked from Bohai. After
de-linking Avolon from Bohai, we will be able to raise our ratings
on Avolon if we judge that its credit profile has improved.

"The stable outlook on Avolon reflects our expectation that the
company's earnings and cash flow will continue to benefit from the
growth of its aircraft fleet and the strong demand for aircraft due
to the rising volume of global passenger traffic. We expect the
company's EBIT interest coverage to be in the high-1x area and its
funds from operations (FFO)-to-debt ratio to be in the high single
digit percent area through 2019.

"Although unlikely, we could lower our rating on Avolon over the
next year if its EBIT interest coverage declines below 1.3x or its
FFO-to-debt ratio declines below 6% for a sustained period. This
could be caused by reduced aircraft lease rates due to
weaker-than-expected demand and overcapacity or if Avolon adopts a
materially more aggressive financial policy.

"We could raise our rating on Avolon over the next year if the
company reduces its secured debt-to-assets ratio below 30% and
maintains a FFO-to-debt ratio of 9% or more for a sustained period.
This could occur if the company maintains a lower-than-expected
level of debt or if its aircraft lease rates improve significantly
from their current levels due to stronger-than-expected airline
passenger traffic supported by increased levels of discretionary
income. In order to raise our rating on Avolon, we would also need
to believe that there will not be any changes in the company's
level of minority ownership or governance matters."



BAILEY'S EXPRESS: Plan Admin Taps Shapiro as Special Counsel
------------------------------------------------------------
David Allen, the plan administrator appointed for Bailey's Express
Inc.'s bankruptcy estate, seeks approval from the U.S. Bankruptcy
Court for the District of Connecticut to hire Shapiro Law Offices,
LLC as special counsel.

The Debtor's estate has a cause of action against the John M. Hall,
Sr. Marital Trust by reason of a promissory note in the face amount
of $1.6 million for monies it loaned to the trust.  Shapiro Law
Offices will assist the Debtor in the collection of the note.

The firm will charge these hourly rates:

     Jonathan Shapiro     $315
     Associate            $225
     Paralegals            $75  

Jonathan Shapiro, Esq., at Shapiro Law Offices, disclosed in a
court filing that his firm neither holds nor represents any
interest adverse to the Debtor and its estate.

The firm can be reached through:

     Jonathan M. Shapiro, Esq.
     Shapiro Law Offices, LLC
     32 Washington Street
     Middletown, CT 06457
     Tel: 860-347-3325
     Fax: 860-347-3874
     Email: jshapiro@shapirolawofficesct.com

                    About Bailey's Express Inc.

Headquartered in Middletown, Connecticut, Bailey's Express --
http://www.baileysxpress.com/-- is a Connecticut-based less than
truckload carrier. It provides service across the nation and is
dedicated in helping Connecticut, Massachusetts and Rhode Island
companies market their products throughout the U.S. including
Hawaii and Alaska. It has distribution points in Charlotte, Dallas,
Denver, Easton, Fontana, Indianapolis, Jacksonville, Memphis,
Neenah, Phoenix, Salt Lake City and Toledo.  It also provides
service to Mexico, Puerto Rico & Canada.

Bailey's Express filed for Chapter 11 bankruptcy protection (Bankr.
D. Conn. Case No. 17-31042) on July 13, 2017, estimating its assets
and liabilities at between $1 million and $10 million.  The
petition was signed by David Allen, chief financial officer.

Judge Ann M. Nevins presides over the case.

Elizabeth J. Austin, Esq., and Jessica Grossarth Kennedy, Esq., at
Pullman & Comley, LLC, serve as the Debtor's bankruptcy counsel.

No creditors' committee has been appointed in the case.

On January 12, 2018, the court confirmed the Debtor's Chapter 11
plan of liquidation.  Pursuant to the plan, David Allen was deemed
the plan administrator for the Debtor's estate.


BICOM NY: Files Chapter 11 Joint Plan of Liquidation
----------------------------------------------------
BICOM NY, LLC, f/d/b/a Jaguar Land Rover Manhattan, ISCOM NY, LLC
f/d/b/a Maserati of Manhattan, and Bay Ridge Automotive Company,
LLC f/d/b/a Bay Ridge Ford and the Official Committee of Unsecured
Creditors filed a disclosure statement for their proposed joint
plan of liquidation dated August 3, 2018.

The Plan is a liquidating plan and provides for the vesting of all
remaining Assets of the Debtors in a Liquidation Trust, governed by
a Liquidation Trust Agreement, upon the Effective Date of the Plan.
All or substantially all of the Debtors' operating Assets have been
sold by the Debtors. The Debtors or the Liquidation Trustee will
dispose of any remaining Assets pursuant to the terms of the Plan
and the Liquidation Trust Agreement until all Assets are fully
liquidated or abandoned. The Liquidation Trustee will, at an
appropriate time following the liquidation or abandonment of some
or all of the remaining Assets vested with the Liquidation Trust
and payment of all expenses incurred by the Liquidation Trustee in
the administration of the Liquidation Trust, distribute the net
proceeds from such liquidation to the Holders of Allowed Claims in
order of the priorities set forth in the Plan and subject to the
Trust Waterfall. The Plan further provides for the termination of
all Equity Interests in the Debtors and the deemed dissolution of
the Debtors from and after the Effective Date of the Plan.

The Plan also constitutes the Plan Proponents' request to authorize
and approve the J.P. Morgan Chase, NA Settlement Agreement, dated
as of May 16, 2018, between the Plan Proponents and Chase. The Plan
is predicated upon the Chase Settlement Agreement, therefore, the
Confirmation Order will constitute an order pursuant to Bankruptcy
Rule 9019 approving the Chase Settlement Agreement. The Chase
Settlement Agreement will thereafter be binding on the Debtors, the
Committee, Chase, and the Liquidation Trust and any successors to
any of them. If the Plan conflicts with any aspect of the Chase
Settlement Agreement, then the Chase Settlement Agreement controls
to the extent of the conflict.

In exchange for broad releases and exculpations by the Estates,
Chase agreed to (a) extend funding under the DIP Facility beyond
the maturity date of March 9, 2018, to April 22, 2018 (which was
further extended to May 6, 2018); (b) contribute $100,000 to the
Estates to provide liquidity for formulation of a plan of
liquidation and prosecution of confirmation of such a plan, which
liquidity Chase has provided; (c) contribute $200,000 (subject to
potential adjustments) to provide liquidity to the Liquidation
Trust; (d) agree to accept deferred, contingent, and ultimately
speculative payment of its administrative priority claims, (e)
share the BNF Recoveries with the Estates; (f) partially
subordinate its administrative priority claims and to forgo
interest that would continue to accrue after the Effective Date;
and (g) support confirmation of a plan that conforms to the terms
of the Chase Settlement Agreement. Neither the Chase Settlement
Agreement nor the Plan provides third-party releases to Chase.

The key provisions of the Chase Settlement Agreement are as
follows:

* The Plan Proponents are to propose and pursue a Chapter 11 plan
of liquidation for each of the Debtors" Estates, which shall
conform to the terms of the Chase Settlement Agreement. Chase is
required to support and vote to accept a Conforming Plan when
solicited to do so. The Plan Proponents and Chase agree that the
Plan is a Conforming Plan that Chase is required to support and
vote to accept.

* Chase will contribute the Plan Funding ($100,000) and the Trust
Funding ($200,000). Upon the execution of the Chase Settlement
Agreement, Chase funded the Debtors’ Professional Fees and other
Administrative Claims that arose for the period of March 12, 2018
through May 6, 2018, pursuant to a Fifth Modification and Waiver
Agreement made in connection with the Final DIP Financing Order and
the DIP Loan Documents, and provided the Plan Funding. Prior to the
execution of the Chase Settlement Agreement, the Debtors were
operating without an Approved Budget as a result of the Maturity
Date under the Final DIP Financing Order and DIP Loan Documents
occurring on March 9, 2018. The funding of the  Final Approved
Budget is in satisfaction of all remaining obligations of Chase
under the Final DIP Financing Order and DIP Loan Documents.

* Chase's Claims Against the Debtors. Upon the Effective Date,
Chase's Claims against the Debtors' Estates will Equal the (1) DIP
Superpriority Claim; and (2) the Chase Residual Claim, which
consists of the Adequate Protection Superpriority Claims and
Prepetition Obligations plus the Trust Funding.

• The Chase Settlement Agreement creates a waterfall structure
under which Chase on account of its Allowed Claims on the one hand,
and the Holders of all other Allowed Claims for which Chase is not
a Holder, on the other hand, will share in the Net Recoveries
obtained by the Liquidation Trust.

The Chase Settlement Agreement is the cornerstone of the Plan. It
represents a global and comprehensive resolution of the various
claims of the parties against each other and provides a mechanism
for funding the pursuit of various causes of action which have been
identified by the Committee. Absent such funding, it is unclear
whether it would be possible to pursue the identified causes of
action. Also, absent Chase’s agreement to forego the payment of
its administrative claims on the Effective Date of a Plan, it is
likely no alternative Plan could be confirmed.

Each holder of an Allowed General Unsecured Claim will be entitled
to receive its Pro Rata share in Cash from the Liquidation Trust,
subject to the Trust Waterfall.

A full-text copy of the Disclosure Statement is available at:

     http://bankrupt.com/misc/nysb17-11906-551.pdf

                   About Bicom NY LLC

BICOM NY, LLC dba Jaguar Land Rover Manhattan --
http://www.landrovermanhattan.com/-- is a dealer of Jaguar and
Land Rover cars in New York City.  ISCOM NY, LLC dba Maserati of
Manhattan -- http://www.maseratiofmanhattan.com/-- is a retailer
of Maserati cars in New York City.

BICOM NY, and ISCOM NY and related entity Bay Ridge Automotive
Company, LLC, sought Chapter 11 protection (Bankr. S.D.N.Y. Case
Nos. 17-11906 to 17-11908) on July 10, 2017.  

In the petitions signed by Gary B. Flom, manager, BICOM NY
disclosed $37.37 million in total assets and $12.17 million in
total liabilities as of the bankruptcy filing, and ISCOM NY
disclosed $4.85 million in total assets and $5.33 million in total
liabilities.

Judge Michael E. Wiles presides over the cases.

Eric J. Snyder, Esq., at Wilk Auslander LLP, is the Debtors'
bankruptcy counsel.  The Debtors hired Aboyoun & Heller, LLC, as
special counsel; and JND Corporate Restructuring as administrative
agent.

On July 31, 2017, the U.S. Trustee for Region 2 appointed an
official committee of unsecured creditors.  Moses & Singer, LLP, is
the Committee's legal counsel.


BK RACING: Trustee's Aug. 21 Sale of All Assets Set
---------------------------------------------------
Judge J. Craig Whitley of the U.S. Bankruptcy Court for the Western
District of North Carolina authorized the bidding procedures of
Matthew Smith, the Chapter 11 trustee for BK Racing, LLC, in
connection with the sale of all assets of the Debtor for $1.8
million, with no financing contingencies, subject to overbid.

A hearing on the Motion was held on July 26, 2018.

If the Stalking Horse is the winning bid at the competitive sale or
if no qualified bids are received, then the Stalking Horse will
close on the purchase of the Stalking Horse Assets as soon as
possible after entry of an order approving the sale, but not later
than three business days after such Order has become a final order.
The Stalking Horse will offer employment to all of the Debtor's
current employees at the time of the Closing and will pay a
retention bonus of up to $2,000 per employee (not to exceed $50,000
in the aggregate) to each employee who remains employed through the
completion of the 2018 Cup Series season (with such retention
bonuses not to be paid out of the purchase price for the Stalking
Horse Assets).

After the Closing, the Stalking Horse will reimburse the Debtor for
any revenue actually received by the Stalking Horse resulting from
any sponsorship agreement that is (i) developed and otherwise
secured by the Trustee and (ii) assigned to the Stalking Horse; (e)
the Trustee will pay the Stalking Horse a breakup fee in the amount
of $75,000 as an administrative expense contemporaneously with the
closing of any sale of the Stalking Horse Assets only if the
Stalking Horse is not a purchaser of any Stalking Horse Assets in
any such sale (it being understood that the Breakup Fee will be
payable directly to the Stalking Horse at the closing of any such
sale by the purchaser of such Stalking Horse Assets).

The Stalking Horse will make a good faith deposit in an amount
equal to 10% of the Initial Bid Price.

The salient terms of the Bidding Procedures are:

     a. Bid Deadline: Aug. 13, 2018 at 4:00 p.m. (ET)

     b. Qualified Bid: A Qualified Bid must propose a purchase
price that exceeds the Initial Bid Price by at least $150,000.

     c. Deposit: 10% of Bid

     d. Auction: The Trustee will conduct a competitive sale of at
least the Stalking Horse Assets, and potentially all the Race Team
Assets, pursuant to these Bidding and Sale Procedures on Aug. 20,
2018 at 9:30 a.m. in the offices of Grier Furr & Crisp, PA located
at 101 North Tryon Street, Suite 1240, Charlotte, North Carolina,
or in such other location as the Trustee designates upon advance
written notice to holders of Qualified Bids.

     e. Bid Increments: $50,000

     f. Sale Hearing: Aug. 21, 2018, at 9:30 a.m.

     g. Sale Objection Deadline: Aug. 13, 2018

Any sale of the Race Team Assets approved at the Sale Approval
Hearing will be free and clear of all liens, with any liens
transferring to the proceeds of the sale.

A copy of the APA and the Bidding Procedures attached to the Order
is available for free at:

   http://bankrupt.com/misc/BK_Racing_172_Order.pdf

                        About BK Racing

BK Racing, LLC, is a Monster Energy NASCAR Cup Series Toyota Racing
team headquartered in Charlotte, North Carolina.  The team was
founded in 2012 after owners Ron Devine and Wayne Press acquired
Red Bull Racing.

BK Racing sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. W.D.N.C. Case No. 18-30241) on Feb. 15, 2018.  In its
petition signed by Kathy Burch, power of attorney for managing
member Brenda Devine, the Debtor estimated assets and liabilities
of $10 million to $50 million.  

Judge Craig J. Whitley presides over the case.  

The Debtor hired The Henderson Law Firm PLLC as its legal counsel.

Matthew W. Smith was appointed to serve as Chapter 11 trustee for
the Debtor.  The Trustee hired Grier Furr & Crisp, PA as his legal
counsel, and The Finley Group, Inc. as his financial advisor.


BLACK BOX: Gets Extension for Business Unit Sale
------------------------------------------------
Black Box Corporation has received an extension from its lenders
regarding the timing of the execution of a definitive agreement to
sell its Federal Business.  The Company will provide an
announcement when the agreement is executed.

Management believes that this transaction remains on track to close
by the end of August.

On June 29, 2018, Black Box and certain direct and indirect
wholly-owned subsidiaries of the Company entered into a Second
Amendment with PNC Bank, National Association, as administrative
agent, and certain other lenders to amend the Credit Agreement
entered into among the Loan Parties, the Agent and the Lenders on
May 9, 2016.

As the Company disclosed in the Form 8-K, filed with the Securities
and Exchange Commission on July 2, 2018, the Company has agreed
under the Amended Credit Agreement to pursue the sale of its
federal government IT services business.  Under the Amended Credit
Agreement, the Company must meet certain milestone dates leading to
the consummation of the Sale Transaction, including the delivery of
an executed purchase agreement in respect of the Sale Transaction
on or before July 31, 2018.  The Company and the Agent have agreed
to an extension regarding the timing of the First Sale Milestone
Date.

                         About Black Box

Black Box Corporation -- http://www.blackbox.com-- is a digital
solutions provider dedicated to helping customers design, build,
manage, and secure their IT infrastructure.  Black Box delivers
products and services through its global presence and 3,264 team
members. To learn more, visit the Black Box Web site at
http://www.blackbox.com.

Black Box reported a net loss of $100.09 million for the year ended
March 31, 2018, compared to a net loss of $7.05 million for the
year ended March 31, 2017.

As of March 31, 2018, Black Box had $376.33 million in total
assets, $325.99 million in total liabilities and $50.34 million in
total stockholders' equity.

The audit opinion included in the company's Annual Report on Form
10-K for the year ended March 31, 2018 contains a going concern
explanatory paragraph expressing substantial doubt about the
Company's ability to continue as a going concern.  BDO USA, LLP,
the Company's auditor since 2005, noted that the Company has
suffered recurring losses from operations, has negative operating
cash flow and is dependent upon raising additional capital or
refinancing its debt agreement to fund operations that raise
substantial doubt about its ability to continue as a going concern.


BLUE BEE: Hires Ernest A. Martz as Special Labor Litigation Counsel
-------------------------------------------------------------------
Blue Bee, Inc. seeks approval from the U.S. Bankruptcy Court for
the Central District of California to hire Ernest A. Martz, Esq. as
special labor litigation counsel, effective as of July 16, 2018.

On February 14, 2018, the law firm of Matern Law Group, PC filed a
proof of claim in the Debtor's bankruptcy case on behalf of Benix
Morante, Jennifer Dominguez, and April Bojorquez, individually and
as purported class representatives (Alleged Class), pursuant to
which the Alleged Class asserts a claim in excess of $30,000,000
against the Debtor, including a priority claim of $214,643.84,
based upon certain "wage and hour" claims alleged against the
Debtor.

On February 28, 2018, the Matern Firm filed a proof of claim in the
Debtor's bankruptcy case on behalf of Morante individually,
pursuant to which Morante asserts a claim in the sum of $1,500,000
against the Debtor based upon certain claims of discrimination,
harassment, sexual battery, retaliation and wrongful termination
alleged against the Debtor.

Given the amount and scope of the claims asserted in the Alleged
Class POC and the Morante POC, and the potential impact that the
determination of such claims will have on the Debtor’s ability to
propose a feasible plan of reorganization in this case, the Debtor
requires the services of special labor litigation counsel to, among
other things, evaluate the claims asserted in the Alleged Class POC
and the Morante POC in a comprehensive manner, prepare and litigate
motions seeking to disallow the Alleged Class POC and the Morante
POC, provide status updates and make any necessary appearances on
behalf of the Debtor in the Alleged Class Action and Morante Action
(pending before the Los Angeles Superior Court but currently
stayed), and provide such other legal services as may be requested
by the Debtor in connection with the foregoing matters.

Martz will bill his time on an hourly basis in a discounted rate of
$200.00.

Ernest A. Martz, Esq. assures the Court that he does not hold or
represent any interest materially adverse to the Debtor or the
Debtor's bankruptcy estate with respect to the matters for which he
is to be employed, and is a "disinterested person" as that term is
defined in Section 101(14) of the Bankruptcy Code.

The counsel can be reached through:

     Ernest A. Martz, Esq.
     Attorney at Law
     520 Palos Verde Blvd.
     Redondo Beach, CA 90277
     Phone: (310) 938-6828
     Fax: (310) 373-5338

                         About Blue Bee

Headquartered near downtown Los Angeles, California in Vernon,
California, Blue Bee, Inc., doing business as ANGL, is a retailer
doing business under the "ANGL" brand offering stylish and
contemporary women's clothing at reasonable prices to its
fashion-savvy customers.  As of Oct. 19, 2016, Blue Bee owns and
operates 21 retail stores located primarily in shopping malls
throughout the state of California.  Founders Jeff Sunghak Kim and
his wife, Young Ae Kim, continue to be actively involved in Blue
Bee's business operations as the President and Secretary of the
Company, respectively.

Blue Bee filed a Chapter 11 petition (Bankr. C.D. Cal. Case No.
16-23836) on Oct. 19,2016.  Jeff Sungkak Kim, its president, signed
the petition.  The Debtor estimated assets and liabilities at $1
million to $10 million.  Judge Sandra R. Klein is the case judge.
The Debtor is represented by Juliet Y. Oh, Esq., at Levene, Neale,
Bender, Yoo & Brill LLP.


BROOKSTONE COMPANY: Taps Omni Management as Claims Agent
--------------------------------------------------------
Brookstone Holdings Corp. received approval from the U.S.
Bankruptcy Court for the District of Delaware to hire Omni
Management Group, Inc. as its claims and noticing agent.

The firm will oversee the distribution of notices and the
maintenance, processing and docketing of proofs of claim filed in
the Chapter 11 cases of the company and its affiliates.  

Omni will charge these hourly rates:

     Analyst                       $25 to $40
     Consultant                    $50 to $125
     Senior Consultant            $140 to $155
     Equity Services                  $175  
     Technology/Programming        $85 to $135  

Before the Petition Date, the Debtors provided Omni a retainer in
the sum of $25,000.

Paul Deutch, senior vice-president of Omni, disclosed in a court
filing that his firm is a "disinterested person" as defined in
Section 101(14) of the Bankruptcy Code.

Omni can be reached through:

     Paul H. Deutch
     Omni Management Group
     1120 Avenue of the Americas, 4th Floor
     New York, NY 10036
     Tel: 212-302-3580
     Fax: 212-302-3820
     Email: nycontact@omnimgt.com

                  About Brookstone Holdings Corp.

Founded in 1965, Brookstone Holdings Corp. is a U.S.-based product
developer and retailer of wellness, entertainment, and travel
products that are fun to discover, smart to use and beautiful in
design.  Brookstone products are available at its 35 retail
locations in airports throughout the U.S., online at Brookstone.com
and through select premium retailers worldwide.

Brookstone Holdings and its affiliates sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Lead Case No.
18-11780) on August 2, 2018.

In the petitions signed by Stephen A. Gould, secretary, the Debtors
estimated assets of $50 million to $100 million and liabilities of
$100 million to $500 million.  

Judge Brendan Linehan Shannon presides over the cases.

The Debtors tapped Gibson, Dunn & Crutcher LLP as their bankruptcy
counsel; Young Conaway Stargatt & Taylor, LLP as Delaware counsel;
Berkeley Research Group, LLC as financial advisor; and GLC Advisors
& Co. as investment banker.


CAESARS ENTERTAINMENT: Renaissance Can't Enforce Stockton Claims
----------------------------------------------------------------
The reorganized debtors, including Caesars Entertainment Operating
Co., Inc. and Showboat Atiantic City Propco LLC filed an objection
to the claims of Stockton University, f/k/a The Richard Stockton
College of New Jersey, which have been transferred to Showboat
Renaissance LLC. The debtors contend that Renaissance lacks
standing to enforce the claims.

Bankruptcy Judge A. Benjamin Goldgar sustained the debtors'
objection. Although the debtors are wrong in calling it a
"standing" problem, they are right that Renaissance cannot enforce
the Stockton claims. The claims, therefore, are disallowed.

Stockton filed two identical proofs of claim in the
jointly-administered bankruptcy cases No. 3597 against CEOC and No.
4223 against Showboat Propco on May 23, 2015. The claims were later
amended on November 24, 2015, by proofs of ciaim Nos. 5575 and
5574, respectively. The amended claims are also identical.

In the proofs of claim, Stockton alleges that CEOC and Showboat
Propco are liable to it in connection with the sale of the Showboat
property under a host of tort and breach of contract theories.

On January 2016, less than a year after filing its proofs of claim,
Stockton sold theShowboat property to Renaissance for $23 million.
On September 2016, Renaissance was able to obtain from the Trump
entities a release of the Trump use covenant. According to the
debtors, Renaissance now operates a hotel on the Showboat property.


As part of the sale, Stockton assigned to Renaissance its claims
against Showboat Propco and CEOC. The assignment was made under a
Partial Assignment of Claims Agreement dated Jan. 15,2016.

On Feb. 23, 2016, Renaissance filed notices of transfer in the CEOC
and Showboat Propco bankruptcy cases showing "Stockton University"
as the transferor and Showboat "Renaissance LLC" as the
transferee.

Because Renaissance asserts an assignment of Stockton's claims, and
because the claims allege an injury (a breach of contract) fairly
traceable to CEOC and Showboat Propco (the breaching parties) and
likely to be redressed by a favorable decision (through a payment
under the debtors' confirmed plan), Renaissance has standing to
assert the Stockton claims. Renaissance, however, cannot enforce
those claims against the bankruptcy estates. In the face of the
debtor's arguments that the assignment of the claims was
ineffective, arguments it does not contest, the only basis
Renaissance offers for its right to enforce the claims is a rule of
bankruptcy procedure that necessarily confers no substantive
rights.

Because Renaissance has forfeited any argument in opposition to the
debtors' objection to the ton claims, and because the objection was
well-taken in any event, the objection as to the tort claims will
be sustained.

The debtors' objection will also be sustained as to the breach of
contract claims. Just as New Jersey law is irrelevant to the tort
claims, the PSA is irrelevant to the breach of contract claims -
not because Renaissance has forfeited its arguments under the PSA
but because it has waived them. The argument Renaissance has chosen
to advance instead, one based on Bankruptcy Rule 3002(e), is a
non-starter.

In its objection, the debtors argued not only that Renaissance was
not a party to the Purchase and Sale Agreement but also that
Renaissance could obtain no rights under the PSA by assignment.
That was so, the debtors said, because the PSA forbade an
assignment without the consent of Showboat Propco, and consent bad
not been given or even requested. Their characterization was
accurate. The PSA expressly barred Stockton from assigning its
rights or delegating its duties "without the prior written consent
of [Showboat Propcol."

A full-text copy of the Court's Memorandum Opinion dated July 30,
2018 is available at:

     http://bankrupt.com/misc/ilnb15-01145-8184.pdf

                About Caesars Entertainment

Las Vegas, Nevada-based Caesars Entertainment Corp. (NASDAQ:CZR) --
http://www.caesars.com/-- is one of the world's largest casino
companies.  Caesars casino resorts operate under the Caesars,
Bally's, Flamingo, Grand Casinos, Hilton and Paris brand names.
The Company has its corporate headquarters in Las Vegas.  Harrah's
announced its re-branding to Caesar's in mid-November 2010.

In January 2015, Caesars Entertainment and subsidiary Caesars
Entertainment Operating Company, Inc., announced that holders of
more than 60% of claims in respect of CEOC's 11.25% senior secured
notes due 2017, CEOC's 8.5% senior secured notes due 2020 and
CEOC's 9% senior secured notes due 2020 have signed the Amended and
Restated Restructuring Support and Forbearance Agreement, dated as
of Dec. 31, 2014, among Caesars Entertainment, CEOC and the
Consenting Creditors.  As a result, The RSA became effective
pursuant to its terms as of Jan. 9, 2015.

Appaloosa Investment Limited, et al., owed $41 million on account
of 10% second lien notes in the company, filed an involuntary
Chapter 11 bankruptcy petition against CEOC (Bankr. D. Del. Case
No. 15-10047) on Jan. 12, 2015.  The bondholders are represented by
Robert S. Brady, Esq., at Young, Conaway, Stargatt & Taylor LLP.

CEOC and 172 other affiliates -- operators of 38 gaming and resort
properties in 14 U.S. states and 5 countries -- filed Chapter 11
bankruptcy petitions (Bank. N.D. Ill. Lead Case No. 15-01145) on
Jan. 15, 2015.  CEOC disclosed total assets of $12.3 billion and
total debt of $19.8 billion as of Sept. 30, 2014.

Delaware Bankruptcy Judge Kevin Gross entered a ruling that the
bankruptcy proceedings will proceed in the U.S. Bankruptcy Court
for the Northern District of Illinois.

Kirkland & Ellis serves as the Debtors' counsel.  AlixPartners is
the Debtors' restructuring advisors.  Prime Clerk LLC acts as the
Debtors' notice and claims agent.  Judge Benjamin Goldgar presides
over the cases.

The U.S. Trustee has appointed an official committee of second
priority noteholders and an official unsecured creditors'
committee.

The U.S. Trustee appointed Richard S. Davis as Chapter 11
examiner.

The examiner retained Winston & Strawn LLP, as his counsel; Alvarez
& Marsal Global Forensic and Dispute Services, LLC, as financial
advisor; and Luskin, Stern & Eisler LLP, as special conflicts
counsel.


CALHOUN SATELLITE: Taps Eric Bononi as Accountant
-------------------------------------------------
Calhoun Satellite Communications, Inc., seeks authority from the US
Bankruptcy Court for the Western District of Pennsylvania to hire
Eric Bononi as its accountant.

Services to be rendered byMr. Bononi are:

     a. assume primary responsibility for the preparation and
filing of periodic reports as required by the office of the United
States Trustee and in connection therewith maintain all of the
necessary books and records for the administration period of this
case;

     b. assist with the collection of accounts receivable that are
due and owing to the Debtor;

     c. assume primary responsibility for the preparation and
filing of necessary tax returns; and

     d. provide other accounting services as may be required by the
Debtor during the course of the reorganization.

Eric Bononi, CPA, assures the Court that he is a disinterested
person as that term is defined in 11 U.S.C. Sec. 101 (14).

The accountant can be reached through:

     Eric E. Bononi, CPA
     Bononi & Company, P.C.
     20 N. Pennsylvania Ave, Suite 201
     Greensburg, PA 15601-2337
     Phone: (724) 832-2499
     Email: eric@bononilaw.com

              About Calhoun Satellite Communications

Calhoun Satellite Communications, Inc., operates a satellite
transmission business. Meanwhile, Transmission Solutions Group,
Inc., was formed solely to hold Calhoun's stock.  All of
Transmission's creditors hold identical claims against Calhoun.

Calhoun and Transmission sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. W.D. Pa. Lead Case No. 17-23389) on Aug.
22, 2017.  Kevin Husband, its president, signed the petitions.

The Debtors estimated assets of less than $50,000 and liabilities
of $1 million to $10 million.


CAPTAIN NEMOS: Unsecureds to Receive 100% in 60 Monthly Payments
----------------------------------------------------------------
Captain Nemos Subs and Salads, LLC, submits a combined plan of
reorganization and disclosure statement, which provides for the
resolution of outstanding Creditor Claims and Equity Interests.

Class III under the plan consists of the Holders of Allowed
Unsecured Claims against Captain Nemos. The total estimated amount
of the non-Priority Unsecured Claims is $204,136.14 exclusive of
Deficiency Claims. Holders of Allowed Class III Claims will be paid
100% on such Claims. The Claimants of this Class will receive on
account of such Claim 60 equal monthly cash payments equal in the
aggregate, to the amount of each Allowed Claim. The first monthly
payment will be made on the Effective Date.

After the Effective Date of the Plan, the Reorganized Debtor will,
pursuant to the Plan, continue to operate consistent with its
operations prior to and after the Petition Date. It is anticipated
that Mr. Brett T. Manning who handles the operations of the
company, will be paid compensation of approximately $48,000 per
year. There are no fringe benefits expected to be paid.
Compensation may be increased as operations may allow.

A full-text copy of the Disclosure Statement is available at:

      http://bankrupt.com/misc/mieb18-41307-68.pdf

                About Captain Nemos Subs

Captain Nemos Subs and Salads, LLC is a Michigan corporation that
owns several sub and salad shops in the Downriver area of
Southeast, Michigan.  It sells subs, salads, appetizers and other
food goods and drinks.  The business is located at 28801 Telegraph
Rd., Flat Rock, Michigan.

Captain Nemos Subs and Salads filed a Chapter 11 petition (Bankr.
E.D. Mich. Case No. 18-41307) on Feb. 1, 2018.  In the petition
signed by Brett T. Manning, managing member, the Debtor estimated
less than $50,000 in assets and $100,000 to $500,000 in
liabilities.  Judge Mark A. Randon presides over the case.  The
Debtor hired Gudeman & Associates, P.C., as its legal counsel.


CAREY CRUTCHER: Allowed Claims to be Paid from HMC Loan
-------------------------------------------------------
Carey Crutcher, Inc. submits a first amended disclosure statement
in connection with its chapter 11 plan dated August 3, 2018.

This latest filing provides that the Debtor is currently leasing a
facility from the John Alexander Family Limited Partnership, the
landlord, on a month to month basis. The Facility was placed up for
sale by the Landlord and is currently under contract to be sold to
Roger Ross. Although the sale was set to close on or before August
2, 2018, the closing has been delayed because the environmental
study on the property had not been completed. The environmental
study is now complete and the closing is anticipated within the
next 30 days. Mr. Ross has personal funds available to close, if
necessary, but is seeking an SBA loan to not only purchase the
property but also for additional funds for improvements on the
property. The Debtor has paid additional rent to the Landlord
through Oct. 2, 2018, with an agreement that once the property
closes any rent paid to the Landlord from the closing date until
Oct. 2, 2018, will be refunded to the Debtor on a pro-rata basis.
Mr. Ross is a personal friend of the Debtor’s President and has
agreed that once he closes on the property he will give them free
rent for a period of four months.

William Cary Crutcher, II has been approved for a Commercial Loan
from Hudgins Mortgage Company secured by a first lien on the
Debtor's equipment in the amount of $100,000 which is set to close
in approximately thirty days. The Loan will provide funds to pay
all allowed claims in full on the effective date of the Plan except
for the IRS, and provide some additional working capital to the
Debtor. The allowed claims excluding the IRS, in this case, are
$55,381 plus any unpaid U.S. Trustee fees.

A full-text copy of the First Amended Disclosure Statement is
available at:

      http://bankrupt.com/misc/txsb17-36696-52.pdf

                    About Carey Crutcher

Carey Crutcher, Inc., filed a Chapter 11 bankruptcy petition
(Bankr. S.D. Tex. Case No. 17-36696) on Dec. 13, 2017, estimating
under $50,000 in assets and under $500,000 in liabilities.  The
Company is in the Navigational, Measuring, Electromedical, and
Control Instruments Manufacturing industry.  The Debtor hired Julie
M. Koenig, Esq., at Cooper & Scully, P.C., as counsel.

No official committee of unsecured creditors has been appointed in
the Chapter 11 case of Carey Crutcher, Inc., as of March 1, 2018,
according to the court docket.


CASHMAN EQUIPMENT: Insurers Object to First Amended Plan Outline
----------------------------------------------------------------
Starr Indemnity & Liability Company and Great American Insurance
Company, along with each of their affiliates and subsidiaries
submit an objection and reservation of rights and joinder to
Cashman Equipment Corp.'s first amended disclosure statement with
respect to its first amended joint plan of reorganization.

The Insurers complain that the modifications by the Debtors
contained in the First Amended Joint Plan of Reorganization are
still far short of treatment that would be acceptable to the
Insurers, and clearly fail to satisfy the requirements of section
1129 of the Bankruptcy Code.

The Insurers join in each of the objections to the First Amended
Disclosure Statement that also relates to the treatment of the
Insurers' secured claims under the First Amended Joint Plan of
Reorganization.

Specifically, the Insurers join in the following arguments:

   * The First Amended Disclosure Statement provides inadequate
information regarding the treatment of secured claims and/or is
unconfirmable because it fails to adequately treat secured claims
under the Bankruptcy Code. In this respect, the Insurers contend
that the First Amended Disclosure Statement does not provide
adequate information regarding: (i) the interest rate the Debtors
propose to pay the Insurers pursuant to their secured maritime
liens under applicable law, including without limitation Till v.
SCS Credit Corp., 541 U.S. 465 (2004); and (b) the justification or
sufficiency for paying Insurers’ claims on a multi-year basis
instead of a lump sum payment.

   * The First Amended Disclosure Statement contains inadequate
information regarding a hypothetical chapter 7 liquidation scenario
for parties to evaluate 11 U.S.C. section 1129(a)(7) because it
does not include an orderly liquidation analysis.

A copy of the Insurers' Objection is available at:

     http://bankrupt.com/misc/mab17-12205-961.pdf

Attorneys for Starr Indemnity & Liability Company and Great
American Insurance Company:

     Michael S. Davis, Esq.
     Bryan D. Leinbach, Esq.
     ZEICHNER ELLMAN & KRAUSE LLP
     1211 Avenue of the Americas
     New York, New York 10036
     Telephone: (212) 233-0400
     Facsimile: (212) 753-0396
     mdavis@zeklaw.com
     bleinbach@zeklaw.com

              About Cashman Equipment Corp.

Headquartered in Boston, Massachusetts, Cashman Equipment Corp. --
http://4barges.com/-- was founded in 1995 as a barge rental and
marine contracting company with a fleet of 10 barges, 9 of which
were built in the 1950s and 1960s.  Cashman Equipment and certain
of its affiliates and subsidiaries own, operate, rent, and sell a
fleet of vessels, including inland and ocean barges, marine
accommodation barges, specialized oil spill recovery barges, and
tugs, as well as marine equipment, such as cranes, accommodation
units, and marine pollution skimmers.

Cashman Equipment and certain of its affiliates and subsidiaries,
Cashman Scrap & Salvage, LLC, Servicio Marina Superior, LLC, Mystic
Adventure Sails, LLC, and Cashman Canada, Inc., filed Chapter 11
petitions (Bankr. D. Mass. Lead Case No. 17-12205) on June 9,
2017.

The petitions were signed by James M. Cashman, the Debtors'
president.  Mr. Cashman also commenced his own Chapter 11 case
(Bankr. D. Mass. Case No. 17-12204).  The cases are jointly
administered.


CHRISTOPHER RIDGEWAY: Court Allows SC, HOC's $3MM Unsecured Claim
-----------------------------------------------------------------
Debtor Christopher Martin Ridgeway objected to Stryker
Corporation's and Howmedica Osteonics Corporation's proofs of
claim. Bankruptcy Judge Douglas Dodd issues a memorandum opinion
allowing Stryker and Howmedica recovery on a single, nonpriority,
prepetition unsecured claim for $3,027,650.05.

The debtor contends that Stryker's proofs of claim are not entitled
to prima facie validity because the documents fail to adequately
describe or preserve Stryker's claims. The debtor's challenge on
this ground is meritless, it borders on frivolous.

Stryker's detailed proofs of claim comply with Fed. R. Bankr. P.
Rule 3001 and Official Form 410. They comprise over 1,400 pages of
supplemental materials and exhibits, including invoices and
itemized time details for all attorneys for whom fees are claimed;
its bill of costs; and a seventeen-page addendum giving further
detail on elements of the claims. Stryker amply corroborated the
proofs of claim.

The debtor also argues that Stryker's request for prepetition
interest "is not preserved in, itemized in or described in" the
proof of claim as required by Fed. R. Bankr. P. 3001. A cursory
review of the proof of claim and addendum shows this to be
half-correct. Stryker meticulously documented all the elements of
its claims against the debtor, and although neither the addendum
nor the proof of claim explicitly urges the payment of pre-petition
interest on attorney's fees and costs, the claim itself does set
forth the legal basis for Stryker's recovery of pre-petition
interest on its damages. Under controlling Sixth Circuit law,
interest on a money judgment in a civil action runs from the date
of filing the complaint and is based "on the entire amount of the
money judgment, including attorney fees and other costs." Stryker
adequately set forth its claim for pre-petition interest on
attorney's fees and costs, elements of its damage award.  

In addition to his general billing objections that Stryker's
attorneys engaged in "block billing" and overstaffing, the debtor
argues that a junior attorney on the case billed for performing
administrative work. The debtor compiled a list of entries for
services performed by a junior lawyer for Stryker that he contends
should have been performed by a secretary or paralegal. However,
the Debtor’s own expert witness disagreed with this objection in
its entirety. The Debtor’s objection to $34,470 in charges
performed by junior lawyer representing Stryker is overruled. Those
amount are allowed.

In sum, the Debtor's own misconduct in withholding discoverable
information is directly related to the expenses sought. The debtor
has failed to offer any law or evidence to show how the costs
Stryker seeks are "unreasonable."

For these reasons, Stryker Corporation and Howmedica Osteonics
Corporation are allowed recovery on a single, nonpriority,
prepetition unsecured claim for $3,027,650.05.

A full-text copy of the Court's Memorandum Opinion dated July 27,
2018 is available at:

     http://bankrupt.com/misc/laeb16-10643-684.pdf  

Christopher Martin Ridgeway filed a Chapter 11 bankruptcy petition
(Bankr. E.D. La. Case No. 16-10643) on March 23, 2016, and is
represented by attorneys at Adams and Reese, LLP.


CI CONCRETE: Sale of Assets to Lottman Carpenter Approved
---------------------------------------------------------
Judge Dale L. Sommers of the U.S. Bankruptcy Court for the District
of Kansas authorized ACI Concrete Placement of Kansas, LLC and
affiliates to sell assets to Lottman Carpenter Construction, Inc.

The sale is free and clear of all liens, liabilities, claims,
interests, and other encumbrances.

At the closing of the Sale to the Buyer, the Buyer will deliver the
cash purchase price payable under the Agreement directly to the
appropriate Debtor, which will pay the proceeds to the appropriate
party according to the terms of the Order. All parties in interest
asserting a secured claim and/or Lien against the Debtor's
Purchased Assets reserve their rights and claims in connection with
determination of the nature, extent, validity, and priority of such
asserted secured claims and/or Liens against the proceeds of the
sale.

After Closing, the Debtor will distribute the proceeds of the Sale
as follows: (i) Equity Bank – $1,075,450; (ii) First State Bank -
$388,800; and (iii) Retention by the Debtor for United States
Trustee fees - $10,750.

For cause shown, pursuant to Bankruptcy Rules 6004(h), 7062, and
9014, as applicable, the Sale Order will not be stayed, will be
effective immediately upon entry, and the Debtor and the Buyer are
authorized to close the Sale immediately upon entry of the Sale
Order.

                 About ACI Concrete Placement

ACI Concrete Placement of Kansas LLC, ACI Concrete Placement of
Lincoln LLC, ACI Concrete Placement of Oklahoma LLC, OKK Equipment
LLC and KOK Holdings LLC sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Kan. Case Nos. 17-21770 to 17-21774) on
Sept. 14, 2017.  Matthew Kaminsky, their chief operating officer,
signed the petitions.  The cases are jointly administered.

Founded in 2007, ACI Concrete Placement provides concrete pumping
and telebelt material placement.  In addition to its traditional
concrete placement services, ACI specializes in slip form concrete
placement and separate placing booms.  It owns a fleet of over 55
machines for slope paving, indoor pumping, and small set up areas,
small line and grout pumps and truck mounted conveyors, etc.  ACI
Concrete is headquartered in Spring Hill, Kansas, with additional
locations in Nebraska, Missouri, and Oklahoma.

ACI-Kansas is wholly owned by debtor KOK Holdings, LLC.

ACI-Oklahoma, an Oklahoma Limited Liability Company headquartered
in Kansas, owned by: Lawrence Kaminsky who owns 70% of the company
and Matthew Kaminsky who owns 30% of the company.  ACI-Lincoln, a
Nebraska Limited Liability Company headquartered in Kansas, owned
by: Lawrence Kaminsky who owns 70% of the company and Matthew
Kaminsky who owns 30% of the company.  KOK is owned by: Lawrence
Kaminsky who owns 50% of the company and Matthew Kaminsky who owns
50% of the company.  OKK is wholly owned by the Debtor KOK
Holdings, LLC.

ACI-Kansas, ACI-Oklahoma and ACI-Lincoln function as concrete
pouring companies in their respective states.  OKK serves as the
common equipment ownership company for all ACI companies.  KOK
serves as the parent holding company of the various companies and
also functions as the payroll processor for the related ACI
companies.  The same management structure operates all five Debtors
and their operations are centrally located in Spring Hill, Kansas.

At the time of the filing, ACI Kansas disclosed $1.06 million in
assets and $8.4 million in liabilities.

Judge Dale L. Somers presides over the cases.

Bradley D. McCormack, Esq., at the Sader Law Firm, serves as the
Debtors' bankruptcy counsel.  The Debtors hired Duncan Financial
Group, LLC as financial consultant; Altus Global Trade Solutions as
collection agent; and GlassRatner Advisory & Capital Group, LLC and
Tarsus CFO Services, LLC as consultants.

On Nov. 1, 2017, the Office of the U.S. Trustee appointed an
official committee of unsecured creditors.  The committee is
represented by Hall, Estill, Hardwick, Gable, Golden & Nelson, P.C.


CKSB LLC: $2.8M Sale of San Bernardino Property Approved
--------------------------------------------------------
Judge Scott H. Yun of the U.S. Bankruptcy Court for the Central
District of California authorized in part CKSB, LLC's sale of the
real property located at 295 N. Waterman Avenue, San Bernardino,
California, Assessor's Parcel Number 0135-321-21-0-000, to Dhillion
Investment, Inc. for $2.8 million.

A continued hearing on the Motion was held on July 23, 2018 at 1:30
p.m.

The sale is free and clear of all liens, claims and interests.

The remaining sale proceeds after payment of the first priority
deed of trust held by Habib American Bank, real estate commissions,
applicable taxes, and ordinary costs of closing escrow will be held
by the Debtor's counsel, Sheila Esmaili, Esq., in her client trust
account pending further order of the Court.

The Order reserves the rights and priorities of any and all
potential third parties (both disputed and undisputed) to the Net
Proceeds, pending resolution of the disputed claims.  It preserves
all third parties' (both disputed and undisputed) rights against
both the Debtor and DIP pending resolution of the disputed claims
against it.

No person or entity is authorized to utilize, move, or otherwise
exert control over any of the Net Proceeds that are to be held by
Sheila Esmaili in her client trust account without further order of
the Court.

                        About CKSB, LLC

CKSB, LLC, listed its business as a Single Asset Real Estate (as
defined in 11 U.S.C. Section 101(51B)).  The Company owns in fee
simple a real property located at 295 N. Waterman Ave San
Bernardino, CA 92408, valued by the Company at $2.80 million.

CKSB, LLC, filed a Chapter 11 petition (Bankr. C.D. Cal. Case No.
18-10893) on Feb. 5, 2018.  In the petition signed by Muhammad N.
Atta, managing member, the Debtor disclosed $2.80 million in total
assets and $4.43 million in total liabilities.

On May 15, 2018, the Court appointed Satish Khosla as broker.


COCRYSTAL PHARMA: Incurs $1.34 Million Net Loss in Second Quarter
-----------------------------------------------------------------
Cocrystal Pharma, Inc., has filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q reporting a net loss
and comprehensive loss of $1.34 million for the three months ended
June 30, 2018, compared to a net loss and comprehensive loss of $1
million for the same period last year.

For the six months ended June 30, 2018, the Company reported a net
loss and comprehensive loss of $2.89 million compared to a net loss
and comprehensive loss of $3.55 million for the six months ended
June 30, 2017.

As of June 30, 2018, Cocrystal had $126.32 million in total assets,
$13.67 million in total liabilities and $112.64 million in total
stockholders' equity.

Net cash used in operating activities was approximately $4,171,000
for the six months ended June 30, 2018 compared to $3,137,000 for
the same period in 2017.

Net cash provided by investing activities was $1,395,000 for the
six months ended June 30, 2018 compared to $52,000 net cash used by
investing activities for the same period in 2017.  For the six
months ended June 30, 2018, net cash provided by investing
activities primarily consists of the proceeds from the sale of the
mortgage note asset for $1,400,000.  For the six months ended
June 30, 2017, net cash used for investing activities consist
primarily of capital spending of $40,000 and payment of a long-term
deposit of $12,000.

For the six months ended June 30, 2018, cash provided by financing
activities totaled $8,869,000.  The Company's 2018 financing
activities included $7,684,000 net proceeds from the issuance of
common stock and warrants, $1,000,000 in proceeds from the issuance
of convertible notes and $185,000 in proceeds from the exercise of
stock options.  Net cash provided by financing activities for the
six months ended June 30, 2017 amounted to approximately $3,000,000
in proceeds from issuance of common stock.

"We have a history of operating losses as we have focused our
efforts on raising capital and research and development activities.
The Company's consolidated financial statements are prepared using
generally accepted accounting principles in the United States of
America applicable to a going concern, which contemplates the
realization of assets and the satisfaction of liabilities in the
normal course of business.  The Company has never been profitable,
has no products approved for sale, has not generated any revenues
to date from product sales, and has incurred significant operating
losses and negative operating cash flows since inception," stated
the Company in the Quarterly Report.

For the year ended Dec. 31, 2017, the Company recorded a net loss
of approximately $613,000 and used approximately $6,903,000 of cash
in operating activities.  The Company has not yet established an
ongoing source of revenue sufficient to cover its operating costs
and allow it to continue as a going concern.

"We believe that we do not have sufficient funds for planned
operations over the next 12 months.  The ability of the Company to
continue as a going concern is dependent on the Company obtaining
adequate capital to fund operating losses until it becomes
profitable.  If the Company is unable to obtain adequate capital,
it could be forced to cease operations or substantially curtail its
drug development activities," Cocrystal added.

A full-text copy of the Form 10-Q is available for free at:

                      https://is.gd/wvNJ4g

                    About Cocrystal Pharma

Cocrystal Pharma, Inc., formerly known as Biozone Pharmaceuticals,
Inc., is a clinical stage biotechnology company discovering and
developing novel antiviral therapeutics that target the replication
machinery of hepatitis viruses, influenza viruses, and noroviruses.
The company is headquartered in Tucker, Georgia.
  
Cocrystal Pharma reported a net loss of $613,000 on $0 of grant
revenues for the year ended Dec. 31, 2017, compared to a net loss
of $74.87 million on $0 of grant revenues for the year ended Dec.
31, 2016.  As of March 31, 2018, Cocrystal Pharma had $120.7
million in total assets, $16.58 million in total liabilities and
$104.1 million in total stockholders' equity.

The Company's auditors issued an audit opinion for the year ended
Dec. 31, 2017 which contained what is referred to as a "going
concern" opinion.  BDO USA, LLP, in Seattle, Washington, noted that
the Company has suffered recurring losses from operations and has
an accumulated deficit that raise substantial doubt about its
ability to continue as a going concern.


COLONIAL PENNIMAN: Taps Howard Hanna as Real Estate Agent
---------------------------------------------------------
Colonial Penniman, LLC, seeks approval from the U.S. Bankruptcy
Court for the Eastern District of Virginia to hire a real estate
agent.

The Debtor proposes to employ Howard Hanna/William E. Wood Real
Estate Services to list and market its real property located at
2425 and 2485 Manion Drive, Williamsburg, Virginia.

The firm will get a commission of 6% of the gross sales price for
the real property.  

Howard Hanna neither holds nor represents any interest adverse to
the Debtor and its estate, according to court filings.

The firm can be reached through:

     Michael Grogan
     Howard Hanna/William E. Wood Real Estate Services
     5208 Monticello Ave
     Williamsburg, VA 23188
     Phone: (757) 229-0550

                     About Colonial Penniman

Headquartered in Williamsburg, VA, Colonial Penniman, LLC, filed
for Chapter 11 bankruptcy protection (Bankr. E.D. Va. Case No.
16-50394) on March 24, 2016, with estimated assets of $1 million to
$10 million and estimated liabilities at $1 million to $10 million.
The petition was signed by C. Lewis Waltrip, II, Trustee, manager.
The Debtor is represented by The McCreedy Law Group, PLLC.


COMPUWARE CORP: S&P Affirms B Issuer Credit Rating, Outlook Stable
------------------------------------------------------------------
S&P Global Ratings affirmed its 'B' issuer credit rating on
Detroit-based Compuware Corp. The outlook is stable.

S&P said, "At the same time, we assigned our 'B' issue-level and
'3' recovery ratings to the company's new $60 million first-lien
senior secured revolving credit facility expiring in 2023 and $475
million first-lien senior secured term loan due in 2025. The '3'
recovery rating indicates our expectation of meaningful (50%-70%;
rounded estimate: 50%) recovery in the event of default."

The rating on Compuware is principally supported by robust free
cash flow conversion of more than 50% of revenue, a leading market
share within the mainframe development tools software market, and
an efficient cost structure. S&P said, "While we view the firm's
core mainframe development tools market to be in secular decline
and expect the addressable market to shrink in the low- to
mid-single–digit percentages annually, we expect that a
modernized agile product suite will enable Compuware to take share
and generate stable revenues over the next 24 months. We project
the company will continue to support debt service with free cash
flow generation of $100 million-$110 million over the next several
years."

S&P said, "The stable outlook incorporates our expectation for
Compuware to maintain strong retention rates in its recurring
revenue base, while offsetting attrition with new bookings in
updated product solutions and functionalities, such that free cash
flow to debt remains robust above 5% of debt and adjusted leverage
remains below 7x, including noncommon equity.

"We could lower the rating on Compuware if attrition in the
recurring revenue base re-accelerates due to secular declines in
the mainframe development tools market, or the company adopts a
more aggressive financial policy and pursues leveraging
transactions, such that free cash flow to debt falls below 5% or
adjusted leverage increases above 7x, including noncommon equity.

"While unlikely over the next 12 months, we could raise the rating
on Compuware if the company demonstrates sustained growth through
new recurring revenue bookings and stability in its customer base,
while committing to a modest financial policy, such that leverage
reduces below 5x and free cash flow to debt sustains above 10%,
including noncommon equity."


COMSTOCK RESOURCES: Reports Second Quarter 2018 Results
-------------------------------------------------------
Comstock Resources, Inc. reported financial and operating results
for the three months and six months ended June 30, 2018.  

Comstock produced 22 billion cubic feet of natural gas and 90,000
barrels of oil or 22.3 billion cubic feet of natural gas equivalent
in the second quarter of 2018.  Natural gas production averaged 239
million cubic feet per day, an increase of 25% over natural gas
production in the second quarter of 2017.  The growth in natural
gas production is primarily attributable to the continuing
successful results from Comstock's Haynesville shale drilling
program.  19 MMcf per day of the Company's net natural gas
production had to be shut-in during the second quarter due to
curtailments necessary to complete facility upgrades to handle
higher volumes resulting from the Company's drilling activity in
Caddo Parish, Louisiana and offset frac activity.  The capacity
expansion is expected to be completed in the next week.  Oil
production in the second quarter of 2018, which averaged 990
barrels of oil per day, declined from the 2,674 barrels per day
produced in the second quarter of 2017 as a result of the sale of
the Company's South Texas Eagle Ford shale producing properties,
which was completed on April 27, 2018.

Comstock's average realized natural gas price, including hedging
gains, decreased 12% to $2.64 per Mcf in the second quarter of 2018
as compared to $2.99 per Mcf realized in the second quarter of
2017.  The Company's average realized oil price increased by 27% to
$57.56 per barrel in the second quarter of 2018 as compared to
$45.34 per barrel in the second quarter of 2017.  Oil and gas sales
were $62.6 million (including realized hedging gains) in the second
quarter of 2018 as compared to 2017's second quarter sales of $62.9
million.  EBITDAX, or earnings before interest, taxes,
depreciation, depletion, amortization, exploration expense and
other noncash expenses, was $44.0 million in the second quarter of
2018, as compared to EBITDAX of $43.8 million in the second quarter
of 2017.  Operating cash flow generated in the second quarter of
2018 was $26.1 million as compared to $25.9 million in the second
quarter of 2017.  Excluding the results of the Company's Eagle Ford
shale properties that were sold in the second quarter of 2018,
EBITDAX would have been $41.2 million for the second quarter of
2018 as compared to EBITDAX of $36.5 million for the second quarter
of 2017 and operating cash flow would have been $23.3 million in
the second quarter of 2018 as compared to $18.7 million for the
second quarter of 2017.

Comstock reported a net loss of $34.0 million or $2.22 per share
for the second quarter of 2018 as compared to a net loss of $21.4
million or $1.45 per share for the second quarter of 2017.  The
second quarter of 2018 results included a loss on sale of oil and
gas properties of $6.8 million, an unrealized loss from derivative
financial instruments of $2.7 million, $0.4 million of costs
associated with the Company’s unsuccessful April 2018 tender
offer and $12.2 million of non-cash interest expense associated
with the amortization of discounts recognized and costs incurred on
the debt exchange that occurred in 2016.  Financial results for the
second quarter of 2017 included an unrealized gain from derivative
financial instruments of $3.9 million, and $9.5 million of non-cash
interest expense associated with the amortization of discounts
recognized and costs incurred on the debt exchange that occurred in
2016.  Excluding these items from each year's results, the net loss
for the second quarter of 2018 would have been $11.9 million or
$0.78 per share as compared to a net loss of $15.8 million or $1.07
per share in the second quarter of 2017.

Comstock produced 43 billion cubic feet of natural gas and 280,000
barrels of oil or 45.0 billion cubic feet of natural gas equivalent
in the first six months of 2018 compared to 31.3 Bcf of natural gas
and 508,000 barrels of oil or 34.4 Bcfe in the first six months of
2017.  Natural gas production averaged 238 million cubic feet per
day in the first six months of 2018, an increase of 41% over 2017
natural gas production.  Oil production in the first six months of
2018 declined due to the sale of the Eagle Ford shale producing
properties in the second quarter.

Comstock's average realized natural gas price, including hedging
gains, decreased 8% to $2.73 per Mcf in the first six months of
2018 as compared to $2.98 per Mcf realized in the first six months
of 2017.  The Company's average realized oil price increased by 38%
to $65.12 per barrel in the first six months of 2018 as compared to
$47.04 per barrel in the first six months of 2017.  Primarily as a
result of the higher natural gas production, oil and gas sales
increased by 17% to $136.6 million (including realized hedging
gains) as compared to $117.2 million in the first six months of
2017.

EBITDAX of $97.7 million in the first six months of 2018 was 25%
higher than the EBITDAX of $78.0 million generated in the first six
months of 2017.  Operating cash flow generated in the first six
months of 2018 increased 48% to $61.9 million as compared to
operating cash flow of $41.9 million in the first six months of
2017. Excluding the results of the Company's Eagle Ford shale
properties sold in the second quarter of 2018, EBITDAX would have
been $86.1 million for the first six months of 2018 as compared to
EBITDAX of $62.6 million for the first six months of 2017 and
operating cash flow would have been $50.2 million in the first six
months of 2018 as compared to $26.4 million for the first six
months of 2017.

Comstock reported a net loss of $75.9 million or $4.99 per share
for the first six months of 2018 as compared to a net loss of $44.4
million or $3.06 per share for the first six months of 2017.  The
results for 2018 include a loss on sale of oil and gas properties
of $35.4 million, an unrealized loss from derivative financial
instruments of $1.5 million, $0.4 million of costs associated with
the Company's April 2018 tender offer and $23.2 million of non-cash
interest expense associated with the amortization of discounts
recognized and costs incurred on the debt exchange that occurred in
2016.  Financial results for the first six months of 2017 included
an unrealized gain from derivative financial instruments of $11.2
million and $14.9 million of non-cash interest expense associated
with the amortization of discounts recognized and costs incurred on
the debt exchange that occurred in 2016.  Excluding these items
from results for each period, the net loss for the first six months
of 2018 would have been $15.4 million or $1.01 per share as
compared to a net loss of $40.7 million, or $2.81 per share in the
first six months of 2017.

                      Drilling Results

Comstock reported the results to date of its 2018 drilling program.
During the first six months of 2018, Comstock spent $89.9 million
on its development and exploration activities and drilled 17
horizontal natural gas wells (5.1 net) and had eight wells (1.2
net) drilling at June 30, 2018.  Comstock also completed 11 (4.0
net) operated wells that were drilled in 2017.  Since the last
operational update, Comstock has completed nine additional operated
Haynesville/Bossier shale wells.  The average initial production
rate of these wells was 24 MMcf per day.  The nine operated wells
had completed lateral lengths ranging from 7,467 feet to 9,752 feet
and each well was tested at initial production rates of 16 to 34
MMcf per day.  Comstock has six (1.6 net) operated Haynesville
shale wells that are in the process of being completed.  

In order to protect the returns that the Haynesville shale drilling
program can generate, the Company has hedged, in the aggregate, 59
MMcf per day of its natural gas production in the last six months
of 2018 at a NYMEX equivalent of $3.00 per Mcf.   The Company also
has natural gas collars in place for the period July 1, 2018
through June 30, 2019 for approximately 60 MMcf per day of its
production with a floor price of $2.50 per Mcf and a price ceiling
of $3.30 per Mcf to $3.50 per Mcf.

                            Other

Pending approval by the Company's stockholders at the upcoming
annual meeting to be held on Aug. 10, 2018, Comstock anticipates
closing the previously announced contribution by Arkoma Drilling,
L.P. and Williston Drilling, L.P. of their Bakken shale properties
on Aug. 14, 2018.  On that date, the Company will also repurchase
substantially all of its outstanding debt pursuant to an
outstanding tender offer with the proceeds from a $850.0 million
senior notes offering completed on Aug. 3, 2018 and borrowings
under a new bank credit facility with an initial borrowing base
of$700.0 million.

Comstock has planned a conference call for 10:00 a.m. Central Time
on Aug. 8, 2018, to discuss the operational and financial results
for the second quarter of 2018.  Investors wishing to participate
should visit the Company's website at www.comstockresources.com for
a live web cast or dial 844-776-7840 (international dial-in use
661-378-9538) and provide access code 7684899 when prompted.  If
you are unable to participate in the original conference call, a
web replay will be available approximately 24 hours following the
completion of the call on Comstock's website at
www.comstockresources.com.  The web replay will be available for
approximately one week.  A replay of the conference call will be
available beginning at 1:00 p.m. CT August 8, 2018 and will
continue until 1:00 p.m. Aug. 15, 2018.  To hear the replay, call
855-859-2056 (404-537-3406 if calling from outside the US).  The
conference call access code is 7684899.

                         About Comstock

Comstock Resources, Inc. (NYSE: CRK) is an independent energy
company based in Frisco, Texas and is engaged in oil and gas
acquisitions, exploration and development primarily in Texas and
Louisiana.

Comstock incurred a net loss of $111.4 million for the year ended
Dec. 31, 2017, compared to a net loss of $135.1 million for the
year ended Dec. 31, 2016.  As of March 31, 2018, Comstock Resources
had $910.5 million in total assets, $1.32 billion in total
liabilities and a total stockholders' deficit of $409.9 million.


CONTESSA PREMIUM: Former CEO Obligated to Pay Ex-wife $30K Monthly
------------------------------------------------------------------
The appeals case captioned DENISE G. BLAZEVICH, Respondent, v. JOHN
Z. BLAZEVICH, Appellant, No. B283456 (Cal. App.) is an appeal from
a post-judgment order from the trial court denying the request of
appellant John Z. Blazevich, former CEO of Contessa Premium Foods
Inc., for modification of his obligation to pay $30,000 per month
in spousal support to respondent Denise G. Blazevich. The Court of
Appeals of California affirms.

The parties separated on Dec. 31, 2004. In late 2008, the parties
settled their entire case through mediation. A stipulated judgment
was entered on May 11, 2009.

Pursuant to the stipulated judgment, John was awarded the following
property: the Hacienda de la Paz residence (Hacienda); 100 percent
of the stock in Contessa; numerous bank accounts totaling $814,453;
several brokerage accounts totaling $481,749; an IRA with a balance
of $40,983; a 401(k) with a value of $259,274; a vehicle; and a
motorcycle. At the time of entry of the stipulated judgment, John's
average monthly income from Contessa was $304,788, and his personal
expenses were $174,183 per month.

Sometime after the divorce became final, Contessa filed for Chapter
11 bankruptcy. In 2011, John was forced to sell Contessa in the
bankruptcy action. In 2011, John started a new business known as
VIVA! Food Group. By early 2013, VIVA! was experiencing financial
difficulties, leading John to lay off hundreds of people and pay a
total of approximately $1 million in severance pay to employees.

Due to a reduction in his employment income, commencing in April
2011, John did not pay Denise the entirety of the monthly amount of
$30,000 in spousal support. From April 2011 through December 2014,
John paid $20,000 per month for spousal support. From January 2015
through June 2016, pursuant to a mutual agreement with Denise, John
paid $10,000 per month in spousal support.

After evaluating each of the Family Code section 4320 factors, the
trial court ultimately concluded that, "although there has been a
change in circumstances after Judgment was entered, no modification
of [John]'s duty to pay spousal support is appropriate."
Accordingly, the trial court ordered that John's obligation to pay
spousal support in the sum of $30,000 per month should continue.
The trial court also ordered John to pay Denise $990,000 in spousal
support arrearage.

The Appeals Court rejects John's contention that the trial court
erred by relying "solely on the increase in equity of John's
primary residence as the evidentiary basis for its finding that
John had the ability to pay spousal support." To begin with,
substantial evidence of John's other income (self-employment,
capital gains, and IRA distributions), savings, and assets other
than the Hacienda supported the trial court's finding that John has
the ability to pay spousal support. Furthermore, as a matter of
law, the trial court was entitled to consider the substantial value
of the Hacienda in determining John's ability to pay.

The Court also finds unpersuasive John's reliance on cases
regarding the calculation of child support to bolster his claim
that the trial court erred by considering the substantial value of
the Hacienda. Child support determinations are made pursuant to the
income driven formula set forth in section 4055, whereas section
4320 explicitly directs courts to consider a supporting party's
assets when determining spousal support obligations. But, even with
respect to child support, courts in numerous cases (including one
cited by John) have held that it is proper to consider assets such
as real property.

Accordingly, the Court finds no error with respect to the trial
court's conclusion that John has the ability to pay spousal support
at the current level of $30,000 per month.

A copy of the Court's Ruling dated July 17, 2017 is available at
https://bit.ly/2KElihY from Leagle.com.

Royston Family Law, Mirka Royston ; and Elkins Kalt Weintraub
Reuben Gartside, Thomas Paine Dunlap, for Respondent.

Cuneo & Hoover, J. Nicholas Cuneo, Janina A. Verano, for
Appellant.

                  About Contessa Premium

San Pedro, California-based Contessa Premium Foods, Inc., fka ZB
Industries, Inc., and Contessa Food Products, Inc., provided
farm-raised shrimp, convenience meals, stir-fry vegetables, and
other frozen food products that were marketed and sold primarily in
the United States and to a lesser extent in Canada, Europe, Asia,
and Mexico.  Contessa Premium filed for Chapter 11 bankruptcy
protection (Bankr. C.D. Calif. Case No. 11-13454) on Jan. 26, 2011.
Craig A. Wolfe, Esq., and Jason R. Alderson, Esq., at Kelley Drye
& Warren LLP, in New York, represented the Debtor as counsel.
Jeffrey N. Pomerantz, Esq., and Jeffrey W. Dulberg, Esq., at
Pachulski Stang Ziehl & Jones LLP, in Los Angeles, served as
conflicts counsel for the Debtor.  Scouler & Company, LLC, served
as financial advisors.  Imperial Capital, LLC, acted as investment
banker.  Holthouse Carlin & Van Trigt LLP served as auditors and
accountants.  The Debtor scheduled $49,370,438 in total assets and
$35,305,907 in total liabilities.

The Official Committee of Unsecured Creditors in the Debtor's
Chapter 11 case was represented by Arent Fox LLP.  FTI Consulting
Inc. served as its financial consultants.

Contessa Premium obtained authority from the Bankruptcy Court to
change its name to "Contessa Liquidating Co., Inc." following the
sale of substantially all of its assets to Premium Foods
Acquisition, Inc., for roughly $51,000,000 on Jul. 15, 2011.

As reported by the Troubled Company Reporter on March 9, 2012, the
Court confirmed Contessa's Second Amended Chapter 11 Plan of
Liquidation.


CPI HOLDCO: S&P Affirms 'B' Corporate Credit Rating, Outlook Stable
-------------------------------------------------------------------
S&P Global Ratings affirmed all of its ratings on CPI Holdco, LLC,
including its 'B' corporate credit rating. The outlook is stable.

S&P said, "At the same time, we affirmed the 'B' issue-level rating
and '3' recovery rating on the upsized $635 million first-lien
credit facility, which includes a $40 million revolving credit
facility and a $595 million first-lien term loan ($589 million
outstanding). The '3' recovery rating reflects our expectation for
meaningful recovery (50%-70%; rounded estimate: 60%) in a payment
default.

"We also affirmed the 'CCC+' issue-level rating and '6' recovery
rating on the updated $225 million second-lien credit facility. The
'6' recovery rating reflects our expectation for negligible
recovery (0%-10%; rounded estimate: 5%) in a payment default.

"Our 'B' corporate credit rating on CPI Holdco LLC reflects its
relatively small size, narrow business focus, and niche position as
a distributor of laboratory equipment, instruments, and products, a
space that is dominated by large competitors. The rating also
reflects our expectation that leverage will increase to 10x
following this transaction, which includes our treatment of
preferred equity as debt. These factors are only partially offset
by CPI's leading market position within its niche space, its
above-average profitability, and our expectation of moderate, but
steady cash flow generation.

"The stable rating outlook reflects our expectation that the
company will generate about $40 million of discretionary cash flow,
despite high leverage. This reflects our expectation for
low-to-mid-single digit percent organic growth, stable margins, and
low capital expenditures."



CURO GROUP: S&P Alters Outlook to Positive & Affirms 'B-' ICR
-------------------------------------------------------------
S&P Global Ratings said it revised its outlook on Curo Group
Holdings Corp. to positive and affirmed its 'B-' long-term issuer
credit rating.

S&P said, "At the same time, we assigned a 'B-' issue rating on the
company's senior secured notes. The recovery rating is '4',
indicating our expectation of average recovery (30%-50%, rounded
estimate: 35%) in the event of default. The revision to our outlook
is not contingent on the completion of Curo's proposed
refinancing.

"Our positive outlook reflects S&P Global Ratings' view that Curo
Group Holdings Corp. will maintain a debt to EBITDA ratio between
3.0x-4.0x and its current pace of better-than-expected financial
performance. The company has been able to grow EBITDA while
shrinking its proportion of single-pay revenue to 25% of total
revenues year-to-date as of second-quarter 2018, compared to 29% in
the year-ago period. We view single pay as a higher risk product
because of finalized Consumer Financial Protection Bureau rules,
which are still slated to go into effect in August 2019. U.S.
single-pay revenue is below 10% of total revenue year to date as of
June 30, 2018. The revision to our outlook is not contingent on the
completion of Curo's proposed refinancing."

The positive outlook reflects S&P Global Ratings' view that Curo
will be able to navigate product shifts toward installment loans
while maintaining debt to EBITDA below 4x.

S&P said, "We could lower the rating if regulatory, operational, or
funding challenges begin to push leverage above 4.0x debt to
EBITDA. Higher leverage would likely be the result of
lower-than-expected EBITDA from higher-than-expected provisions.

"We could raise the ratings if the company maintains leverage of
3.0x to 4.0x while growing or maintaining stable EBITDA and
continuing to shrink single-pay revenue as a percentage of total
revenue."



DOREL MITRUT: Sale of Property Denied Without Prejudice
-------------------------------------------------------
Judge A. Jay Cristol of the U.S. Bankruptcy Court for the Southern
District of Florida denied without prejudice Dorel Mitrut's sale of
real property.

A hearing on the Motion was held on July 27, 2018, at 2:00 p.m.

Dorel Mitrut sought Chapter 11 protection (Bankr. S.D. Fla. Case
No. 18-13263) on March 21, 2018.

Counsel for the Debtor:

           Pedro A. Jimenez, Esq.
           JONES DAY
           600 Brickell Avenue, Suite 3300
           Brickell World Plaza
           Miami, FL 33131
           E-mail: pjimenez@jonesday.com



DRIVETIME AUTOMOTIVE: S&P Lowers ICR to 'B-', Outlook Stable
------------------------------------------------------------
S&P Global Ratings said it lowered its issuer credit rating on
DriveTime Automotive Group Inc. to 'B-' from 'B' and its senior
secured debt ratings to 'B-' from 'B'. The outlook is stable.

S&P said, "Our downgrade is driven by expected lower core earnings
for 2018. We expect the company will report losses in its core
business as lower provisions from credit tightening are offset by
decreases in vehicle sales.  

"The stable outlook reflects S&P Global Ratings' expectation that
DriveTime may continue to report negative core net income,
excluding Carvana-related items, over the next 12 months and debt
to adjusted total equity of 3.0x to 4.0x.

"We could lower the rating in the next 12 months if leverage, as
measured by debt to adjusted total equity, approaches 4.5x. We
would also consider lowering the rating if the company comes close
to level 3 covenants triggers in its financing lines that
compromises the company's ability to fund loan originations at
current levels.

"We could raise the rating if the company reports positive core net
income while maintaining charge-offs below 14% of finance
receivables or if leverage is sustainably reduced below 2.75x debt
to equity."



EDEN HOME: Taps Gravely & Pearson as Special Counsel
----------------------------------------------------
Eden Home, Inc., seeks approval from the U.S. Bankruptcy Court for
the Western District of Texas to retain Gravely & Pearson, LLP as
special counsel.

The firm will continue to represent the Debtor in a lawsuit related
to a construction project involving J.E. Dunn Construction (J.E.
Dunn Const. Co. v. Eden Home, Inc., Cause No. C-2015-0183D).  The
case is pending in the 433rd Judicial District in Comal County,
Texas.

Gravely & Pearson and Langley & Banack Inc., another firm tapped by
the Debtor as special counsel in connection with the lawsuit, have
agreed to accept the sum of $5.25 million in full and final payment
of all fees and expenses due to the firms.  The $5.25 million will
be divided between the firms in accordance with their
pre-bankruptcy agreements.  

Michael Gavito, Esq., at Gravely & Pearson, disclosed in a court
filing that he and his firm are "disinterested persons" as defined
in Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Michael Gavito, Esq.
     Gravely & Pearson, LLP
     425 Soledad, 6th Floor
     San Antonio, TX 78205
     Phone: (210) 472-1111
     Fax: (210) 472-1110
     Email: mgavito@gplawfirm.com

                         About Eden Home

Located in New Braunfels, Texas, Eden Home, Inc., d/b/a EdenHill
Communities -- https://www.edenhill.org/ -- is a not-for-profit,
faith-based organization that provides independent living,
affordable housing, assisted living, skilled nursing and
rehabilitation, long-term care and memory care services. The
EdenHill Communities Transportation Department provides ADA
services in support of seniors and individuals with disabilities.

Eden Home, Inc., filed a Chapter 11 petition (Bankr. W.D. Tex. Case
No. 18-50608) on March 16, 2018.  In the petition signed by
Laurence P. Dahl, CEO and executive director, the Debtor estimated
assets and liabilities of $10 million to $50 million.

Judge Craig A. Gargotta is the case judge.

Dykema Cox Smith is the Debtor's counsel; Langley & Banack, and
Gravely & Pearson, L.L.P., as special counsels; Cushman & Wakefield
as real estate broker. Cushman & Wakefield has entered into a
Co-Broker Agreement with CF Commercial Brokerage, LLC d/b/a San
Antonio Commercial Advisors.

On March 26, 2018, the U.S. Trustee appointed Susan N. Goodman as
the patient care ombudsman in the case.

An official committee of unsecured creditors was appointed on May
30, 2018.  The committee retained Martin & Drought, P.C. as
counsel.


EDEN HOME: Taps Langley & Banack as Special Counsel
---------------------------------------------------
Eden Home, Inc., seeks approval from the U.S. Bankruptcy Court for
the Western District of Texas to retain Langley & Banack, Inc. as
special counsel.

The firm will continue to represent the Debtor in a lawsuit related
to a construction project involving J.E. Dunn Construction (J.E.
Dunn Const. Co. v. Eden Home, Inc., Cause No. C-2015-0183D).  The
case is pending in the 433rd Judicial District in Comal County,
Texas.

Langley and Gravely & Pearson, LLP, another firm tapped by the
Debtor as special counsel in connection with the lawsuit, have
agreed to accept the sum of $5.25 million in full and final payment
of all fees and expenses due to the firms.  The $5.25 million will
be divided between the firms in accordance with their
pre-bankruptcy agreements.  

William Sommers, Esq., at Langley, disclosed in a court filing that
his firm is a "disinterested person" as defined in section 101(14)
of the Bankruptcy Code.

The firm can be reached through:

     William W. Sommers, Esq.
     Langley & Banack, Inc.
     745 East Mulberry Ave., Suite 700
     San Antonio, TX 78212
     Phone: 210-736-6600
     Fax: 210-735-6889
     Email: WSommers@langleybanack.com  

                         About Eden Home

Located in New Braunfels, Texas, Eden Home, Inc., d/b/a EdenHill
Communities -- https://www.edenhill.org/ -- is a not-for-profit,
faith-based organization that provides independent living,
affordable housing, assisted living, skilled nursing and
rehabilitation, long-term care and memory care services. The
EdenHill Communities Transportation Department provides ADA
services in support of seniors and individuals with disabilities.

Eden Home, Inc., filed a Chapter 11 petition (Bankr. W.D. Tex. Case
No. 18-50608) on March 16, 2018.  In the petition signed by
Laurence P. Dahl, CEO and executive director, the Debtor estimated
assets and liabilities of $10 million to $50 million.

Judge Craig A. Gargotta is the case judge.

Dykema Cox Smith is the Debtor's counsel; Langley & Banack, and
Gravely & Pearson, L.L.P., as special counsels; Cushman & Wakefield
as real estate broker. Cushman & Wakefield has entered into a
Co-Broker Agreement with CF Commercial Brokerage, LLC d/b/a San
Antonio Commercial Advisors.

On March 26, 2018, the U.S. Trustee appointed Susan N. Goodman as
the patient care ombudsman in the case.

An official committee of unsecured creditors was appointed on May
30, 2018.  The committee retained Martin & Drought, P.C. as
counsel.


ENERGY FUTURE: NextEra's $60MM Admin Expense Claim Disallowed
-------------------------------------------------------------
Bankruptcy Judge Christopher S. Sontchi grants the joint motion of
UMB Bank, N.A., as Indenture Trustee, and Elliott to dismiss the
application of NextEra Energy, Inc. for allowance and payment of
administrative expense and also grants their bid for summary
judgment denying and disallowing such administrative expense.

Elliott seeks denial of NextEra's $60 million administrative
expense claim related to NextEra's fees and expenses incurred
attempting to close the transaction with the Debtors for control of
the Debtors' economic interest in Oncor. The Debtors and NextEra
sought Bankruptcy Court approval of the Merger Agreement, which
contained a Termination Fee provision. The Merger Agreement was
approved; thereafter, NextEra sought approval of the transaction
from the PUCT, which ultimately denied regulatory approval. After
NextEra began the appellate process and it became readily apparent
to the Debtors that such appeals would be fruitless, the Debtors
terminated the Merger Agreement. Thereafter, Elliott sought
reconsideration of the Termination Fee provision of the Merger
Agreement in the limited scenario that NextEra did not receive
regulatory approval and the Debtors were forced to terminate the
Merger Agreement. The Court ultimately decided to reconsider the
Termination Fee in such limited circumstance. NextEra then brought
its application for approximately $60 million in administrative
expense claim related to its fees and expenses in pursuing
regulatory approval of the Merger Agreement, which Elliott is
seeking dismissal of.

Based on the provisions of the Merger Agreement, the Court grants
the motion to dismiss and disallows NextEra's $60 million
administrative expense claim related to its efforts in seeking
regulatory approval of the transaction. Furthermore, even if the
plain language of the Merger Agreement did not prevent such a
claim, which it does, NextEra has not provided a substantial
contribution to the Debtors estates and, thus, does not qualify for
an administrative expense claim under section 503(b) of the
Bankruptcy Code.

A full-text copy of the Court's Opinion dated August 1, 2018 is
available at:

     http://bankrupt.com/misc/deb14-10979-13332.pdf

Counsel for UMB Bank, N.A., as Trustee, and Elliott:

     Scott D. Cousins
     Erin R. Fay
     BAYARD, P.A.
     600 N. King Street, Suite 400
     Wilmington, DE 19801
     scousins@bayardlaw.com
     efay@bayardlaw.com

           -and-

     Keith H. Wofford
     Gregg M. Galardi
     ROPES & GRAY LLP
     1211 Avenue of the Americas
     New York, NY 10036-8704
     Keith.Wofford@ropesgray.com
     Gregg.galardi@ropesgray.com

Counsel for NextEra Energy, Inc.:

     Adam G. Landis
     Matthew B. McGuire
     LANDIS RATH & COBB LLP
     919 Market Street, Suite 1800
     Wilmington, DE 19801
     landis@lrclaw.com
     mcguire@lrclaw.com

           -and-

     Howard Seife
     Andrew Rosenblatt
     NORTON ROSE FULBRIGHT US LLP
     1301 Avenue of the Americas
     New York, NY 10019-6022
     howard.seife@nortonrosefulbright.com
     Andrew.rosenblatt@nortonrosefulbright.com

           -and-
     
     Dan K. Webb
     WINSTON & STRAWN LLP
     35 W. Wacker Drive
     Chicago, IL 60601
     dwebb@winston.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 had $42
billion of funded indebtedness as of the bankruptcy filing.

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.

On May 13, 2014, the U.S. Trustee appointed the Official Committee
of TCEH Unsecured Creditors in the Chapter 11 Cases. The TCEH
Committee is composed of (a) the Pension Benefit Guaranty
Corporation; (b) HCL America, Inc.; (c) BNY, as Indenture Trustee
under the EFCH 2037 Notes due 2037 and the PCRBs; (d) LDTC, as
Indenture Trustee under the TCEH Unsecured Notes; (e) Holt Texas
LTD, d/b/a Holt Cat; (f) ADA Carbon Solutions (Red River); and (g)
Wilmington Savings, as Indenture Trustee under the TCEH Second Lien
Notes. The TCEH Committee retained Morrison & Foerster LLP as
counsel; Polsinelli PC as co-counsel and conflicts counsel; Lazard
Freres & Co. LLC as investment banker; FTI Consulting, Inc., as
financial advisor; and Charles River Associates as an energy
consultant.

On Oct. 27, 2014, the U.S. Trustee appointed the Official Committee
of Unsecured Creditors representing the interests of the unsecured
creditors for EFH, EFIH, EFIH Finance, and EECI, Inc. The EFH/EFIH
Committee is composed of (a) American Stock Transfer & Trust
Company, LLC; (b) Brown & Zhou, LLC c/o Belleair Aviation, LLC; (c)
Peter Tinkham; (d) Shirley Fenicle, as successor-in-interest to the
Estate of George Fenicle; and (e) David William Fahy. The EFH/EFIH
Committee retained Montgomery, McCracken, Walker & Rhodes, LLP, as
co-counsel and conflicts counsel; AlixPartners, LLP, as
restructuring advisor; Sullivan & Cromwell LLC as counsel;
Guggenheim Securities as investment banker; and Kurtzman Carson
Consultants LLC as noticing agent for both the TCEH Committee and
the EFH/EFIH Committee.

Given the size and complexity of the Chapter 11 Cases, the U.S.
Trustee proposed, and the Debtors and the TCEH Committee agreed, to
recommend that the Bankruptcy Court appoint a committee to, among
other things, review and report as appropriate on fee applications
and statements submitted by the professionals paid for by the
Debtors' Estates. The Fee Committee is comprised of four members:
(a) one member appointed by and representative of the Debtors
(Cecily Gooch, Vice President and Special Counsel for
Restructuring, Energy Future Holdings); (b) one member appointed by
and representative of the TCEH Creditors' Committee (Peter
Kravitz, Principal and General Counsel, Province Capital); (c) one
member appointed by and representative of the U.S. Trustee (Richard
L. Schepacarter, Trial Attorney, Office of the United States
Trustee); and (d) one independent member (Richard Gitlin, of Gitlin
and Company, LLC). The Fee Committee retained Godfrey & Kahn, S.C.,
as counsel; and Phillips, Goldman & Spence, P.A., as co-counsel.

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 Aug. 20, 2017, Sempra Energy (NYSE:SRE) announced an agreement
to acquire Energy Future Holdings, the indirect owner of 80 percent
of Oncor Electric Delivery Company, LLC, operator of the largest
electric transmission and distribution system in Texas. Under the
agreement, Sempra Energy will pay approximately $9.45 billion in
cash to acquire Energy Future and its ownership in Oncor, while
taking a major step forward in resolving Energy Future's
long-running bankruptcy case. The enterprise value of the
transaction is approximately $18.8 billion, including the
assumption of Oncor's debt.

On Nov. 3, 2017, the Bankruptcy Court entered an order closing the
Chapter 11 cases of 40 affiliate debtors. The claims asserted
against, and interests asserted in, the Closing Cases are
transferred to the lead case of Texas Competitive Electric Holdings
Company LLC, Case No. 14-10978. A list of the Closing Cases is
available for free at:

      http://bankrupt.com/misc/EnergyFuture_decreeclosing40.pdf


FANNIE MAE & FREDDIE MAC: Are FHFA & the GSEs Government Actors?
----------------------------------------------------------------
The U.S. government has told Judge Sweeney more than once in
litigation underway in the the U.S. Court of Federal Claims
challenging the perpetual sweep of Fannie Mae and Freddie Mac's
profits that the GSEs and their regulator, the Federal Housing
Finance Agency, are not agencies of the United States for Tucker
Act purposes and are Federal actors for purposes of constitutional
claims.  Earlier this month, in its Omnibus Motion to Dismiss
litigation brought by Fairholme Funds., Inc., Washington Federal,
Owl Creek, Appaloosa, and other shareholders, the government said
every Federal courts that has specifically addressed whether FHFA
as the Enterprises' conservator is a Federal actor for purposes of
constitutional claims have unanimously held that it is not a
Federal actor.  See https://goo.gl/EU4ikX at 22.  

That statement is no longer true.  

On Aug, 2, 2018, the Honorable John J. McConnell, Jr., in the U.S.
District Court for the District of Rhode Island, ruled that Fannie
Mae, Freddie Mac and FHFA are government actors for purposes of
constitutional claims, and that FHFA has waived its sovereign
immunity in Sisti v. FHFA, Case Nos. 17-042-JJM-LDA and
17-005-JJM-LDA (Dist. R.I.).  A copy of the decision is available
at https://goo.gl/FYRUcV at no charge.  

The government wants Judge Sweeney to believe that when FHFA as
conservator executed the Third Amendment on the Enterprises behalf,
it did not act as the United States but rather stood in the
Enterprises' private shoes.  Litigating shareholders can now point
Judge Sweeney to a non-binding but persuasive ruling saying that's
not true anymore and she has jurisdiction over FHFA.


FARWEST PUMP: Plan Modifies Treatment of Lawyer's Secured Claim
---------------------------------------------------------------
Farwest Pump Company submits a non-adverse modification to its
second amended plan of reorganization dated June 12, 2018.

The Debtor's plan is modified as follows:

Class 6 consists of the allowed claims of attorney David Leonard
that are secured by an assignment of up to $400,000 proceeds from
the Debtor's Claims against Secura Insurance Company under crime
insurance policies issued to the Debtor. David Leonard filed a
secured proof of claim seeking payment of $392,062.94. David
Leonard will be paid 50% of all proceeds from insurance until he
has been paid up to $200,000. This is expected to consist of:

   * 50% of the $49,185 currently held by the Debtor (David
Leonard's share would be $24,592.50)

   * 50% of the $247,415 insurance claim currently being prepared
by the Debtor (David Leonard's share would be $123,707.50)

   * 50% of all other insurance proceeds as soon as they are
received by the Debtor, up to aggregate total payment of insurance
proceeds to David Leonard of $200,000 (If the above two are both
paid first, then this third bullet would apply to the next $103,400
of insurance proceeds, of which David Leonard would receive 50% or
$51,700).

David Leonard will be granted an allowed general unsecured claim
for $243,762.94 to be paid pursuant to the Plan. (Note: there is
"overlap" of $51,700 of David Leonard’s claim that could be paid
as a secured claim from insurance proceeds, as an unsecured claim,
or a combination of both, whichever happens first. The unsecured
claim will be reduced by up to $51,700 if paid first from the
insurance proceeds, or the insurance payout will be reduced if this
is first paid from the unsecured pool).

David Leonard would have the right to review and provide comments
on all insurance claims prior to claims being filed with the
insurer until the $200k cap is reached.

A copy of the Modified Second Amended Plan is available at:

     http://bankrupt.com/misc/azb4-17-11112-269.pdf

                About Farwest Pump Company

Based in Tucson, Arizona, Farwest Pump Company --
http://farwestwell.com/-- is a small organization that provides
well drilling services to all of the southwest United States.
Farwest also offers a wide variety of related services including
sonar jet, municipal water systems, electrical control systems,
complete machine shop, and environmental and geothermal services.

Founded in 1982, Farwest is a licensed, bonded, and insured company
with locations in Tucson, Willcox and Las Cruces.  It is owned and
operated by Clark and Channa Vaught.

The Debtor sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. D. Ariz. Case No. 17-11112) on September 20, 2017.
Channa Vaught, its president, signed the petition.  At the time of
the filing, the Debtor disclosed $2.51 million in assets and $1.85
million in liabilities.

Judge Brenda Moody Whinery presides over the case.


FORASTERO INC: Plan Provides 2 Alternative Payments to Citibank
---------------------------------------------------------------
Forastero, Inc., submits an amended disclosure statement describing
its amended plan of reorganization dated July 31, 2018.

Under the amended plan, the Debtor is offering two alternative
treatments for Citibank, N.A., as Trustee for the Federal Deposit
Insurance Corporation 2010-R1 Trust. These alternative treatments
are based on the ability of the Debtor to sell the real property
located at 2 Tahiti Beach Island Road, Coral Gables, Florida l
33143 in order to pay all claims in full.

Treatment # 1 - The Debtor will complete a sale of the real
property located at 2 Tahiti Beach Island Road, Coral Gables,
Florida 33143. The Debtor will pay the claim in full at the closing
of the real property. The Debtor will offer reasonable adequate
protection to the Creditor while the marketing of the property is
pending.

Treatment # 2 - The Debtor is presenting two options regarding its
repayment the mortgage on the following terms:

   * The Debtor will make interest-only monthly payments of
$24,472.17 at a rate of 5.35% on the debt for thirty-six months
from the effective date of the plan as it relates to the claim of
Citibank, N.A., as Trustee for the Federal Deposit Insurance
(Corporation 2010-R1 Trust.

   * The Debtor will make interest-only monthly payments of
$30,651.80 at a rate of 5.35% on the debt for thirty-six months
from the effective date of the plan as it relates to the claim of
Citibank, N.A., as Trustee for the Federal Deposit Insurance
(Corporation 2010-R1 Trust.

The Debtor's projections as to its funding are based on the ability
of the Debtor to finalize the sale of its real property or to
obtain a refinancing option on its property. A default of the buyer
through no fault of the Debtor or an inability to obtain financing
would cause the Debtor to be left without the necessary income in
these situations. As such, there is no guarantee that the projected
income will remain as proposed. The Debtor has provided its best
estimate, based on current factors.

A full-text copy of the Amended Disclosure Statement is available
at:

     http://bankrupt.com/misc/flsb18-13397-68.pdf

                    About Forastero Inc.

Forastero, Inc., listed its business as a single asset real estate
as defined in 11 U.S.C. Section 101(51B).

Based in Coral Gables, Florida, Forastero filed a Chapter 11
petition (Bankr. S.D. Fla. Case No. 18-13397) on March 23, 2018.
In the petition signed by Marie C. Vallejo, authorized
representative, the Debtor estimated $10 million to $50 million in
assets and $1 million to $10 million in liabilities.

The case is assigned to Judge Robert A Mark.

Richard R. Robles, Esq., and Nicholas G. Rosoletti, Esq., at the
law firm Richard R Robles, PA, serve as the Debtor's counsel.
Reiner & Reiner, P.A., is the special counsel.


FRONTDOOR INC: Moody's Rates New Senior Unsecured Notes 'B2'
------------------------------------------------------------
Moody's Investors Service assigned a B2 rating to frontdoor, inc.'s
proposed senior unsecured notes.

Frontdoor will be spun off to the shareholders of its current
parent, ServiceMaster Global Holdings, Inc.; AHS will be a
publicly-traded company. The planned spin-off, which was first
announced in July 2017, is expected to be completed in the third
quarter. The net proceeds from the proposed financings and from an
earlier-announced $650 million senior secured term loan will be
used to repay debt at ServiceMaster.

RATINGS RATIONALE

The Ba3 CFR reflects Frontdoor's moderately high debt to EBITDA
which is expected to remain around 4 times and solid free cash flow
to debt anticipated to be at least 10%. Frontdoor is the originator
of and a leader in the home appliance warranty market under the
American Home Shield brand; Moody's considers the market small and
concentrated, and Frontdoor's service lines limited in scope and
geographic scale. Revenue growth rates of well over 10% per year
have been achieved through new customer sign-ups and acquisitions.
Stable and solid profitability with EBITA margins approaching 20%,
good interest coverage with EBITA to interest of approaching 4
times and small capital expenditure requirements provide additional
ratings support. Recurring subscriptions and customer retention
rates of around 80% make revenues predictable.

All financial metrics cited reflect Moody's standard analytical
adjustments. In addition, capitalized software costs are expensed.


The B2 rating on the senior unsecured notes reflects the Ba3-PD PDR
and a loss given default assessment of LGD5, reflecting their
subordination to the senior secured debt.  

The stable ratings outlook reflects Moody's anticipation of free
cash flow and incremental debt proceeds to be used to fund
acquisitions.

The ratings could be downgraded if Moody's expects: 1) revenue
growth rates decline; 2) Frontdoor's costs to deliver service rise,
leading to lower EBITA margins; 3) debt to EBITDA will be
maintained above 4.0 times; 4) free cash flow to debt will remain
below 10%; or 5) more aggressive shareholder return or acquisition
policies.

The ratings could be upgraded if Moody's expects: 1) Frontdoor
products and services will be more diverse and address a larger
market; 2) debt to EBITDA will remain below 3.0 times; and 3)
balanced financial policies.

Issuer: frontdoor, inc.

Assignment:

Senior Unsecured Regular Bond/Debenture, Assigned B2 (LGD5)

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

Frontdoor, based in Memphis, TN, is a national provider of home
service contracts. Brands include American Home Shield, HSA,
OneGuard and Landmark. Moody's expects 2019 revenues of over $1.2
billion.


FRONTERA GENERATION: S&P Assigns 'BB' Rating on Secured Term Loan B
-------------------------------------------------------------------
S&P Global Ratings assigned its 'BB' issue-level rating and '1'
recovery rating to Frontera Generation Holdings LLC's $700 million
senior secured term loan B due in 2025 and $35 million revolving
credit facility due in 2023. The '1' recovery rating indicates
S&P's expectation of very high recovery (90%-100%; rounded
estimate: 95%) in the event of a default. The rating outlook is
stable.

Frontera is a 526-MW gas-fired combined cycle generation plant in
Mission, Texas. It's the only U.S. power plant that sells all its
power into Mexico, via a 230-kilovolt (kv) transmission line. As
such, Frontera enjoys a significant competitive advantage but also
has exposure to unique risks.

S&P said, "The stable outlook reflects our view that the project
will continue to operate at capacity factors above 90%, with spark
spreads in the mid-$20/MWh range and minimum DSCRs of at least
1.7x. We expect the project to deleverage materially via a cash
flow sweep beginning at 100% with the first scheduled sweep date in
January 2019.

"We could consider a negative rating action if the project fails to
meaningful sweep cash to deleverage. This could stem from
lower-than-expected spark spreads in the Mexican market,
lower-than-expected demand, or prolonged operational outages.
Additionally, we could lower the rating if the downside resilience
falls below its current assessment or the minimum DSCR falls below
1.5x in any year.

"While unlikely at this time, we could raise the rating if spark
spreads materially increase in Mexico, such that minimum DSCRs
exceed 2x in all years. This would likely require
stronger-than-expected load growth, and higher spark spreads and
market capacity prices."



GOGO INC: Incurs $37.2 Million Net Loss in Second Quarter
---------------------------------------------------------
Gogo Inc. has filed with the Securities and Exchange Commission its
Quarterly Report on Form 10-Q reporting a net loss of $37.20
million on $227.45 million of total revenue for the three months
ended June 30, 2018, compared to a net loss of $44.20 million on
$172.80 million of total revenue for the three months ended
June 30, 2017.

For the six months ended June 30, 2018, the Company recorded a net
loss of $64.62 million on $459.28 million of total revenue compared
to a net loss of $85.57 million on $338.20 million of total revenue
for the same period a year ago.

As of June 30, 2018, Gogo Inc. had $1.30 billion in total assets,
$1.53 billion in total liabilities and a total stockholders'
deficit of $228.21 million.
    
Cash, cash equivalents and short-term investments were $263.6
million as of June 30, 2018.

"Our BA segment achieved its highest ever quarterly revenue and
EBITDA and we believe this segment is well positioned for continued
growth," said Oakleigh Thorne, Gogo's president and CEO. "Our CA-NA
segment showed solid service revenue growth over Q2 2017, excluding
American Airlines.  Our 2Ku operating metrics continue to improve
and are helping to drive increased customer satisfaction."

"Our second quarter results were elevated by the strong BA
performance, a reduction and the timing of operating costs, and
higher CA Net Service Revenue, among other items, and we maintain
our 2018 Adjusted EBITDA guidance range of $35-$45 million," said
Barry Rowan, Gogo's executive vice president and CFO.  "We are
beginning to realize the benefits of our "Gogo 2020" plan and we
believe these operational improvements will drive strong EBITDA
growth going forward."

Second Quarter 2018 Business Segment Financial Results
Business Aviation (BA)

   * Total revenue increased to a record $74.2 million, up over
     28% from Q2 2017.

   * Service revenue increased to $48.1 million, up over 14% from
     Q2 2017, driven by a 10% increase in ATG units online and a
     5% increase in average monthly service revenue per ATG unit
     online.

   * Equipment revenue increased to $26 million, up 67% from Q2
     2017, driven by continuing strong demand for AVANCE systems.

   * AVANCE L5 systems have achieved the fastest initial sales
     ramp of any new product in the history of BA

   * Segment profit increased to nearly $36.7 million, up 46%
     versus the prior year period as segment profit margin reached

     49%, a quarterly record for BA.

Commercial Aviation-North America (CA-NA)

   * Total revenue increased to $119.7 million, up 19% from Q2
     2017.

   * Service revenue decreased to $95.7 million, down 3% from Q2
     2017, due to the impact of American Airlines.

   * Equipment revenue increased to $23.9 million, up $21.6
     million from Q2 2017, due to the post-adoption impact of ASC
     606 for equipment shipments.

   * Aircraft online increased to 2,809, up 18 from June 30, 2017,

     with over 20% operating on the Company's satellite network.

   * Net annualized ARPA of $113,000 was essentially flat year-
     over-year, materially weakened by the American Airlines
     impact.

   * Segment profit decreased to $7 million from $16.2 million in
     Q2 2017, driven largely by lower service revenue, higher
     operating costs and increased satellite costs to support
     coverage and capacity requirements of the Company's 2Ku
     network.

Commercial Aviation-Rest of World (CA-ROW)

   * Total revenue increased to $33.6 million, up from $14.1
     million in Q2 2017.

   * Service revenue increased to $15.2 million, up 15% from Q2
     2017, due to an increase in aircraft online

   * Equipment revenue increased to $18.5 million, up nearly $18
     million from the prior year period, due to the post-adoption
     impact of ASC 606 for equipment shipments.

   * Aircraft online increased to 459, up 141 from June 30, 2017.

   * Net annualized ARPA decreased to $147,000 from $203,000 in Q2

     2017 due to the significant growth in new aircraft fleets
     online, which initially generate lower net annualized ARPA.

   * Segment loss improved 22% versus Q2 2017 to ($24.5) million,
     driven primarily by improved utilization of our satellite
     network and lower operating expenses.

Recent Developments

   * Launched service on Air Canada's international wide body
     fleets, Iberia Airlines and Alaska Airlines

   * Delivered continued improvement in 2Ku performance, with an
     average availability of over 97% in the combined months of
     June 2018 and July 2018, across all airline customers

   * Completed Integrated Business Plan, or "Gogo 2020," which
     includes a reduction in CA operating spend, excluding
     satellite communications costs, of nearly 20% over the next
     10 quarters

   * Achieved STC for A321NEO, a key STC expected to help drive
     future wins

Business Outlook

The Company reaffirms the following 2018 financial guidance:

   * Total revenue of $865 million to $935 million

   * An increase in 2Ku aircraft on-line to be at the low end of
     550 to 650

   * Consolidated capital expenditures of $150 million to $170
     million and Cash CAPEX (1) of $110 million to $130 million

   * Adjusted EBITDA of $35 million to $45 million

A full-text copy of the Form 10-Q is available for free at:

                     https://is.gd/bPkQml

                          About Gogo

Gogo Inc. -- http://www.gogoair.com/-- is a global provider of
broadband connectivity products and services for aviation.  The
company designs and sources innovative network solutions that
connect aircraft to the Internet, and  evelop software and
platforms that enable customizable solutions for and by its
aviation partners.  Gogo's products and services can be found on
thousands of aircraft operated by the leading global commercial
airlines and thousands of private aircraft, including those of the
largest fractional ownership operators.  Gogo is headquartered in
Chicago, Illinois with additional facilities in Broomfield, CO and
locations across the globe.  

Gogo incurred net loss of $171.99 million in 2017, $124.50 million
in 2016 and $107.61 million in 2015.  As of March 31, 2018, Gogo
had $1.30 billion in total assets, $1.49 billion in total
liabilities and a total stockholders' deficit of $191.33 million.

                          *     *     *

In May 2018, Moody's Investors Service downgraded Gogo Inc.'s
(Gogo) corporate family rating (CFR) to 'Caa1' from 'B3'.
According to Moody's, Gogo's Caa1 CFR reflects its small scale,
competitive operating environment, low margins, high leverage
(12.9x Moody's adjusted at year end 2017), and the expectation of
negative free cash flow into at least 2019 as the company heavily
invests in the rollout of in-flight connectivity technology to
additional carriers outside the North American market, where it
currently benefits from critical mass in the commercial aviation
segment and a dominant position in business aviation.

As reported by the TCR on May 8, 2018, S&P Global Ratings lowered
its corporate credit rating on Chicago-based Gogo Inc. to 'CCC+'
from 'B-'.  "The downgrade reflects our expectation that previously
announced equipment issues will weigh on operating and financial
performance in 2018, which we expect will have a carry-over effect
on the company's growth in 2019.  As a result, we believe there
could be a liquidity shortfall in the second half of 2019 absent
improvements in operating performance and planned cost saving
initiatives," S&P said.


GOGO INC: Will Sell $100 Million Worth of Securities
----------------------------------------------------
Gogo Inc. has filed a Form S-3 registration statement with the
Securities and Exchange Commission relating to the sale of debt
securities, common stock, preferred stock, depositary shares,
warrants, purchase contracts, units, and subscription rights.  The
proposed maximum aggregate offering price is $100 million.

The securities to be offered and sold may be offered and sold to or
through one or more agents, underwriters, dealers or other third
parties or directly to one or more purchasers, on a continuous or
delayed basis.

The Company will offer the securities in an amount and on terms
that market conditions will determine at the time of the offering.
Gogo Inc.'s common stock is listed on The NASDAQ Global Select
Market under the symbol "GOGO."  The last reported sale price for
the Company's common stock on Aug. 7, 2018 as quoted on NASDAQ was
$3.84 per share.  The Company has no preferred stock, warrants,
debt securities, subscription rights, depositary shares or units
listed on any market.  If the Company decides to list or seek a
quotation for any other securities, the prospectus supplement
relating to those securities will disclose the exchange or market
on which those securities will be listed or quoted.

A full-text copy of the preliminary prospectus is available at:

                      https://is.gd/ZwXeoR

                           About Gogo

Gogo Inc. -- http://www.gogoair.com/-- is a global provider of
broadband connectivity products and services for aviation.  The
company designs and sources innovative network solutions that
connect aircraft to the Internet, and develop software and
platforms that enable customizable solutions for and by its
aviation partners.  Gogo's products and services can be found on
thousands of aircraft operated by the leading global commercial
airlines and thousands of private aircraft, including those of the
largest fractional ownership operators.  Gogo is headquartered in
Chicago, Illinois with additional facilities in Broomfield, CO and
locations across the globe.  

Gogo incurred net loss of $171.99 million in 2017, $124.50 million
in 2016 and $107.61 million in 2015.  As of June 30, 2018, Gogo
Inc. had $1.30 billion in total assets, $1.53 billion in total
liabilities and a total stockholders' deficit of $228.21 million.

                         *     *     *

In May 2018, Moody's Investors Service downgraded Gogo Inc.'s
(Gogo) corporate family rating (CFR) to 'Caa1' from 'B3'.
According to Moody's, Gogo's Caa1 CFR reflects its small scale,
competitive operating environment, low margins, high leverage
(12.9x Moody's adjusted at year end 2017), and the expectation of
negative free cash flow into at least 2019 as the company heavily
invests in the rollout of in-flight connectivity technology to
additional carriers outside the North American market, where it
currently benefits from critical mass in the commercial aviation
segment and a dominant position in business aviation.

As reported by the TCR on May 8, 2018, S&P Global Ratings lowered
its corporate credit rating on Chicago-based Gogo Inc. to 'CCC+'
from 'B-'.  "The downgrade reflects our expectation that previously
announced equipment issues will weigh on operating and financial
performance in 2018, which we expect will have a carry-over effect
on the company's growth in 2019.  As a result, we believe there
could be a liquidity shortfall in the second half of 2019 absent
improvements in operating performance and planned cost saving
initiatives," S&P said.


H N HINCKLEY: Private Sale of Tisbury Property Approved
-------------------------------------------------------
Judge Joan N. Feeney of the U.S. Bankruptcy Court for the District
of Massachusetts authorized H N Hinckley & Sons, Inc.'s private
sale of real property located at 61 Beach Road, Tisbury,
Massachusetts, free and clear of all encumbrances.

The objection and higher offers deadline was set for July 27, 2018
at 3:00 p.m.

The Debtor also asked the Court to authorize it to lease back
portion of the Property, and to pay the costs and expenses of
senior secured claim of Adam Rottenberg.

                      About H N Hinckley & Sons

H N Hinckley & Sons, Inc., headquartered in Vineyard Haven,
Massachusetts, is a dealer of building material and supplies.  H N
Hinckley & Sons filed a Chapter 11 petition (Bankr. D. Mass. Case
No. 18-10398) on Feb. 6, 2018.  In the petition signed by Wayne M.
Guyther III, president, the Debtor estimated assets and liabilities
at $1 million to $10 million.  The case is assigned to Judge Joan
N. Feeney.  The Debtor tapped Posternak Blankstein & Lund LLP as
its legal counsel and Schlossberg LLC as the special counsel.


HAGGEN HOLDINGS: 3rd Cir. Affirms Approval of APA
-------------------------------------------------
Antone Corp., in the case captioned In re: HAGGEN HOLDINGS, LLC, et
al., Debtors, v. ANTONE CORP, Appellant, No. 17-3159 (3rd Cir.),
appeals from the order of the U.S. District Court for the District
of Delaware affirming the order entered by the U.S. Bankruptcy
Court for the District of Delaware, which approved an asset
purchase agreement and allowed Haggen Holdings, LLC and its
affiliates to sell certain assets. The United States Court of
Appeals, Third Circuit affirms the District Court's order.

Haggen Holdings, LLC, owned and operated 164 grocery stores and one
pharmacy through three operating companies, including Haggen Opco
South, LLC. In 2015, Debtors filed petitions for relief under
chapter 11 of the Bankruptcy Code. They asked the Bankruptcy Court
to approve bidding procedures for the sale of a number of stores as
well as the assumption and assignment of certain executory
contracts and unexpired leases. This sale motion implicated a
commercial lease between Haggen Opco South, LLC, and Antone.

The Lease (as amended in 1993) included a "Profit Sharing
Provision." The provision stated in relevant part that, "[i]n the
event Tenant assigns this Lease or sublets more than 50% of the
demised premises, Tenant shall deliver to Landlord 50% of any net
profits within 30 days of Tenant's receipt thereof pursuant to such
assignment or subletting." In support of the objection, Antone
filed a declaration executed by its president and chief executive
officer.

Following a hearing, the Bankruptcy Court overruled Antone's
objection, approved the sale, authorized assumption and assignment
of the Lease, and prohibited enforcement of the Profit Sharing
Provision.

The Third Circuit holds that the Bankruptcy Court and the District
Court properly determined that the Profit Sharing Plan was
unenforceable. Initially, it is undisputed that Antone has not
cited any cases actually enforcing such a provision. It likewise
has failed to provide any legal authority supporting its assertion
that it possessed a property interest in the sale proceeds. In
contrast, the Third Circuit noted that "Section 365(f)(1) was
designed to prevent anti-alienation or other clauses in leases and
executory contracts assumed by the Trustee from defeating his or
her ability to realize the full value of the debtor's assets in a
bankruptcy case." The plain language of section 365(f)(1)
encompasses more than merely provisions that actually prohibit the
assignment of an executory contract or an unexpired lease; the
statutory provision also extends to any clause that "restricts, or
conditions" such assignment.

Antone also compares the profit sharing provision at issue in A&P
to a liquidated damage or penalty clause. However, just like
Antone, the landlord in that case argued that the provision was
enforceable because it was the result of a bargained-for exchange
between the parties. The A&P court appropriately considered and
rejected this argument.

A copy of the Court's July 17, 2018 Opinion is available at
https://bit.ly/2KJA0US from Leagle.com.

                     About Haggen Holdings

Headquartered in Bellingham, Washington, Haggen was founded in 1933
as a single grocery store.  From 1933 to 2014, Haggen grew into a
30 store family-run grocery chain, with stores located in the
northwestern United States.  From 2011 to 2014, Haggen reduced its
store base to 18, including a stand-alone pharmacy location.

Haggen rapidly expanded in 2014 and 2015, and, as of the Petition
Date, Haggen owned and operated 164 stores through three operating
companies: Haggen, Inc., Haggen Opco North, LLC and Haggen Opco
South, LLC.

Haggen Holdings, LLC, and its affiliates filed Chapter 11
bankruptcy petitions (Bankr. D. Del. Case Nos. 15-11874 to
15-11879) on Sept. 8, 2015, with the intention of reorganizing, or
selling as a going concern, their stores for the benefit of their
creditors.  The petitions were signed by Blake Barnett, the chief
financial officer.  The Debtors estimated assets of $50 million to
$100 million and estimated liabilities of $10 million to $50
million.

Young, Conaway, Stargatt & Taylor, LLP, is serving as the Debtors'
local counsel.  Stroock & Stroock & Lavan LLP serves as the
Debtors' general counsel.  Alvarez & Marsal North America, LLC,
acts as the Debtors' financial advisor.  Kurtzman Carson
Consultants LLC serves as the Debtors' claims and noticing agent.

T. Patrick Tinker, assistant U.S. Trustee for Region 3, appointed
seven creditors to the official committee of unsecured creditors.
Pachulski Stang Ziehl & Jones LLP serves as counsel to the
Committee.  Giuliano, Miller & Company, LLC, serves as tax advisors
to the Committee.

                        *     *     *

Following the sale of core assets, Haggen Holdings LLC changed its
name to HH Liquidation, LLC.


HALCON RESOURCES: S&P Alters Outlook to Negative & Affirms B- ICR
-----------------------------------------------------------------
S&P Global Ratings affirmed its 'B-' issuer credit rating on
Houston-based Halcon Resources Corp. and revised the outlook to
negative from stable.

S&P said, "We also affirmed the 'CCC+' issue-level rating on the
company's unsecured debt. The recovery rating remains '5',
indicating our expectation for modest (10%-30%; rounded estimate:
10%) recovery in the event of payment default.

"The outlook revision reflects our updated EBITDA and cash flow
projections for 2018 and 2019, leading to increased leverage, and
the possibility that Halcón could encounter liquidity challenges
if it is unable to obtain waivers on its financial covenants (see
Liquidity section below). Key changes to our cash flow estimates
include higher cash costs due to operational downtime, reduced
drilling activity and lower production growth expectations, and
wider oil price differentials to the West Texas Intermediate (WTI)
benchmark due to limited takeaway capacity from the Permian Basin.
Halcón announced that it will reduce active rigs to three from
four for the remainder of 2018, which will result in an estimated
17% decline in expected average production to about 15,000 barrels
of oil equivalent (boe) per day, versus our prior estimate of close
to 18,000 boe per day. As a result, EBITDA and cash flow are
expected to decline, weakening expected financial performance. We
now expect the company to generate debt to EBITDA closer to 5x and
funds from operations (FFO) to debt of about 12% in 2018 and 2019,
along with negative free operating cash flow (FOCF). Our negative
outlook incorporates the potential for Halcón's debt to EBITDA to
approach 7x with no path for improvement, a level we would view as
unsustainable given the company's small size and scale, geographic
concentration, negative FOCF and less than adequate liquidity.

"The negative outlook reflects our expectation for significant
negative free cash flow over the next 24 months, and our view that
Halcón could encounter liquidity challenges or unsustainable
leverage with debt to EBITDA approaching 7x if margins do not
improve in late 2019 as we currently anticipate.

"We could lower the rating on Halcón if the company's leverage
reached levels we consider to be unsustainable, including debt to
EBITDA close to 7x with no path to improvement. This would most
likely occur if the company's costs continued to increase or if oil
price differentials widened further than expected. Additionally, we
would likely lower the rating if liquidity deteriorated, which
would most likely occur if the company lost access to its credit
facility as a result of covenant breaches, or if it were unable to
execute planned asset sales.

"We could revise the outlook to stable if Halcón can improve and
sustain debt to EBITDA close to 5x and FFO to debt around 12%,
while also improving liquidity to levels we consider adequate. This
would most likely occur if the company were able to lower costs
combined with improved oil price differentials, as well as address
potential covenant violations and raising material capital through
planned asset sales."



HERBALIFE NUTRITION: S&P Rates New $400MM Unsec. Notes Due 2026
---------------------------------------------------------------
S&P Global Ratings assigned its 'BB-' issue-level rating and '2'
recovery rating to Herbalife Nutrition Ltd.'s proposed $400 million
senior unsecured notes due 2026. The '2' recovery rating indicates
S&P's expectation for substantial (70%-90%; rounded estimate: 85%)
recovery in the event of a payment default.

All of S&P's other ratings on the group, including its issuer
credit rating (B+/Positive/--), are unchanged.

The company will use the net proceeds from the proposed notes,
along with its recently launched $1 billion senior secured bank
credit facility, to refinance about half of Herbalife's debt
capital structure in a roughly leverage neutral transaction. The
company's total debt outstanding pro forma for the proposed notes
and bank facility is about $2.4 billion.

The proposed senior unsecured notes will be issued by Herbalife
subsidiaries HLF Financing S.a.r.l. LLC and Herbalife International
Inc. and will be guaranteed on an unsecured basis by Herbalife and
any subsidiaries that guarantee the recently launched senior
secured bank credit facility. S&P said, "Based on our analysis and
discussion with the company and agent bank, we believe the proposed
senior unsecured notes are structurally senior to Herbalife's
existing $1.225 billion senior unsecured convertible notes
(unrated) due to the presence of guarantees that are not provided
to the senior unsecured convertible noteholders.
In particular, the proposed senior unsecured notes benefit from
guarantees by certain subsidiaries that own nonguarantor
subsidiaries located in China and Russia. The senior unsecured
convertible notes are issued by parent Herbalife and lack any
guarantees. Therefore, we believe the senior unsecured noteholders
are in a better position relative to the substantial firm value
located primarily in China and Russia."

S&P said, "Our rating incorporates the meal replacement company's
participation in the highly competitive weight-management and
nutritional products industry and the risks associated with
operating a multilevel direct-sales business model, including
potential unfavorable legal, regulatory, and reputational
developments, the need to maintain and adequately compensate the
sales associate base, and high customer turnover. The company also
has significant channel, brand, and product concentration
(including the Formula 1 shake, which accounts for about 30% of its
sales), though its operations are geographically diversified.

"Nevertheless, high rates of global obesity and a desire for a
healthier lifestyle have translated into favorable industry
dynamics. We view Herbalife as an effective competitor with a
well-known brand that it leverages through its global base of about
625,000 sales leaders and 4 million members. The company's
profitability and cash flow have generally been satisfactory and
consistent over at least the past six years, despite some
reputational and regulatory challenges to its business model. We
assume Herbalife's adjusted leverage will increase moderately over
the next few years (to around the mid-3x area from the low-3x area
presently) due to sizable share repurchase activity, which we
expect to be funded with a combination of incremental debt, free
cash flow generation, and existing cash balances."

  RATINGS LIST

  Herbalife Nutrition Ltd.
   Issuer Credit Rating        B+/Positive/--

  New Rating
  
  HLF Financing S.a.r.l. LLC
  Herbalife International Inc.
   Senior Unsecured
    $400M Notes Due 2026       BB-
     Recovery Rating           2(85%)



HERITAGE HOME: Taps Kurtzman Carson as Administrative Advisor
-------------------------------------------------------------
Heritage Home Group, LLC, asks the U.S. Bankruptcy Court for the
District of Delaware to authorize them to employ Kurtzman Carson
Consultants, LLC, nunc pro tunc to the Petition Date, as their
administrative advisor, pursuant to their Services Agreement, in
connection with the chapter 11 cases.

On the Petition Date, the Debtors filed an application to employ
KCC as their claims and noticing agent, which was approved by the
Court on Aug. 31, 2018.  Given that the administration of these
chapter 11 cases will require KCC to perform duties outside the
scope of 28 U.S.C. Section 156(c), the Debtors supplement the
Section 156(c) Application with the Motion.

KCC specializes in providing comprehensive chapter 11
administrative services, including noticing, claims processing,
balloting, and other related services critical to the effective
administration of chapter 11 cases.  Indeed, KCC has substantial
experience in matters of this size and complexity, and has acted as
administrative advisor or official claims and noticing agent in
many large bankruptcy cases filed in the district.

In particular, pursuant to the Services Agreement and the
Application, the Debtors ask to retain KCC to provide, among other
things, these bankruptcy administrative services, if and to the
extent requested:

     a. assisting with, among other things, solicitation,
balloting, and tabulation and calculation of votes, as well as
preparing any appropriate reports, as required in furtherance of
confirmation of chapter 11 plan(s) in these cases;

     b. generating an official ballot certification and testifying,
if necessary, in support of the ballot tabulation results;

     c. gathering data in conjunction with the preparation, and
assisting with the preparation, of the Debtors' schedules of assets
and liabilities and statements of financial affairs;

     d. providing a confidential data room;

     e. managing any distributions pursuant to a confirmed chapter
11 plan; and

     f. providing such other claims processing, noticing,
solicitation, balloting, and administrative services described in
the Services Agreement, but not included in the Section 156(c)
Application, as may be requested from time to time by the Debtors.

The fees KCC will charge in connection with its services to the
Debtors are set forth in the Services Agreement.  The Debtors
respectfully submit that KCC's rates are competitive and comparable
to the rates KCC's competitors charge for similar services.
Furthermore, the Debtors believe KCC's rates are reasonable given
the quality of its services and its prior bankruptcy expertise.
Additionally, KCC will ask reimbursement from the Debtors for
reasonable expenses in accordance with the terms of the Services
Agreement.

Prior to the Petition Date, the Debtors provided KCC a retainer in
the amount of $20,000.  Although certain expenses and fees may have
been incurred but not yet applied to the retainer, such amounts, if
any, would be less than the balance of the retainer as of the
Petition Date.  KCC asks to hold such retainer under the Services
Agreement during the cases as security for the payment of fees and
expenses incurred under the Services Agreement.

KCC intends to apply to the Court for allowance of compensation
and reimbursement of out-of-pocket expenses incurred after the
Petition Date in connection with the services it provides pursuant
to this Application, as administrative advisor in these chapter 11
cases, subject to Court approval and in accordance with the
applicable provisions of the Bankruptcy Code, the Bankruptcy Rules,
the Local Rules, and further orders of the Court.

For these reasons, the Debtors submit that KCC's employment is
necessary and in the best interests of the Debtors and their
estates.

A hearing on the Motion is set for Aug. 27, 2018 at 1:30 p.m. (ET).
The objection deadline is Aug. 20, 2018 at 4:00 p.m. (ET).

A copy of the Agreement attached to the Motion is available for
free at:

     http://bankrupt.com/misc/Heritage_Home_13_Sales.pdf

KCC can be reached at:

          KURTZMAN CARSON CONSULTANTS, LLC
          2335 Alaska Ave.
          El Segundo, CA 90245
          Attn: Drake D. Foster
          Telephone: (310) 823-9000
          Facismile: (310) 823-9133
          E-mail: dfoster@kccllc.com

                  About Heritage Home Group

Heritage Home Group LLC -- http://www.heritagehome.com/-- designs,
manufactures, sources and retails home furnishings.  The company
markets its products through a wide range of channels, including
its own Thomasville retail stores and through interior designers,
multi-line or independent retailers and mass merchant stores.  It
was formed by an affiliate of KPS Capital Partners, LP in November
2013 to acquire the brand portfolio and certain related assets of
Furniture Brands International, Inc.

Heritage Home Group and its affiliates sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Case Nos.
18-11736 to 18-11740) on July 29, 2018.

In the petitions signed by Robert D. Albergotti, chief
restructuring officer, Heritage Home Group estimated assets of $100
million to $500 million and liabilities of $100 million to $500
million.

The Debtors tapped Young Conaway Stargatt & Taylor, LLP as their
legal counsel; Houlihan Lokey Capital, Inc. as their investment
banker; and Kurtzman Carson Consultants LLC as claims and noticing
agent.

On July 31, 2018, the Court authorized the joint administration of
the Debtors' chapter 11 cases.

On Aug. 31, 2018, the Court appointed Kurtzman Carson Consultants,
LLC. as the Debtors' administrative advisor.


HLS PHARMACIES: $56K Sale of Medical Equipment to Orr Approved
--------------------------------------------------------------
Judge Basil H. Lorch, III, of the U.S. Bankruptcy Court for the
Southern District of Indiana authorized HLS Pharmacies, Inc.'s sale
of personal property assets, consisting of durable medical
equipment located at the Debtor's various locations and also in
patients' residences, the related contracts, if any, and the
customer lists, customer files, phone (cell and landlines) and fax
numbers maintained by the Debtor in the operation of the business,
prescription files computer data and client list, and HME Accounts
Receivable to Orr Medical, LLC for $56,000.

A hearing on the Motion was held on July 31, 2018.

Any valid liens will attach to the sale proceeds.

The sale proceeds will be paid to German American Bank.

The durable medical equipment, including specifically the oxygen
equipment in the possession of customers is determined to be lost
and abandoned for purposes of applicable Medicare regulations,
including without limitation, the Medicare Claims Processing
Manual, Chapter 20 Section 50.4.

The 14-day stay imposed by Rule 6004(h) of the Federal Rules of
Bankruptcy Procedure is waived.

The provisions of the Order will become effective immediately.

A copy of the APA attached to the Order is available for free at:

   http://bankrupt.com/misc/HLS_Pharmacies_174_Order.pdf

                     About HLS Pharmacies

Based in Evansville, Indiana, HLS Pharmacies, Inc. --
http://www.hlshealth.com/-- offers home medical equipment, home
accessibility solutions, and wellness products to individuals
living in Southwest Indiana, Southeast Illinois, Northern Kentucky
and Southern Texas.  The company's products include outdoor ramps,
lift chairs, portable oxygen and sleep apnea devices.  HLS is
HQAA-accredited in Indiana and Illinois, and JCACO-accredited in
Texas.  The company is an active member of the Chamber of Commerce,
the VGM Group and the Better Business Bureau.

HLS Pharmacies sought Chapter 11 protection (bankr. S.D. Ind. Case
No. 17-71197) on Dec. 14, 2017.  In the petition signed by Rick
Stradtner, president, the Debtor estimated assets and liabilities
in the range of $1 million to $10 million.  Judge Basil H. Lorch,
III is assigned to the case.  The Debtor tapped John Joseph Allman,
Esq., and David R. Krebs, Esq., at Hester Baker Krebs, LLC, as
counsel.




HLS PHARMACIES: $600K Sale of Medical Equipment to Williams Okayed
------------------------------------------------------------------
Judge Basil H. Lorch, III of the U.S. Bankruptcy Court for the
Southern District of Indiana authorized HLS Pharmacies, Inc.'s sale
of personal property assets consisting of durable medical equipment
located at the Debtor's various locations and also in patients'
residences, the related contracts, if any, and the customer lists,
customer files, phone (cell and landlines) and fax numbers
maintained by the Debtor in the operation of the business,
prescription files computer data and client list, and HME Accounts
Receivable, except those HME Accounts Receivable arising out of the
Princeton, Kentucky site ("DME Assets") to Williams Bros. Health
Care Pharmacy Inc. for $600,000, but in the event that the Assets
do not include the Princeton Assets, the purchase price will be
$550,000.

A hearing on the Motion was held on July 31, 2018.

Any valid liens will attach to the sale proceeds.

The sale proceeds will be paid to German American Bank.

The durable medical equipment, including specifically the oxygen
equipment in the possession of customers is determined to be lost
and abandoned for purposes of applicable Medicare regulations,
including without limitation, the Medicare Claims Processing
Manual, Chapter 20 Section 50.4.

The 14-day stay imposed by Rule 6004(h) of the Federal Rules of
Bankruptcy Procedure is waived.

The provisions of the Order will become effective immediately.

A copy of the APA attached to the Order is available for free at:

     http://bankrupt.com/misc/HLS_Pharmacies_173_Order.pdf

                      About HLS Pharmacies

Based in Evansville, Indiana, HLS Pharmacies, Inc. --
http://www.hlshealth.com/-- offers home medical equipment, home
accessibility solutions, and wellness products to individuals
living in Southwest Indiana, Southeast Illinois, Northern Kentucky
and Southern Texas.  The company's products include outdoor ramps,
lift chairs, portable oxygen and sleep apnea devices.  HLS is
HQAA-accredited in Indiana and Illinois, and JCACO-accredited in
Texas.  The company is an active member of the Chamber of Commerce,
the VGM Group and the Better Business Bureau.

HLS Pharmacies sought Chapter 11 protection (bankr. S.D. Ind. Case
No. 17-71197) on Dec. 14, 2017.  In the petition signed by Rick
Stradtner, president, the Debtor estimated assets and liabilities
in the range of $1 million to $10 million.  Judge Basil H. Lorch,
III is assigned to the case.  The Debtor tapped John Joseph Allman,
Esq., and David R. Krebs, Esq., at Hester Baker Krebs, LLC, as
counsel.


HOOK AND BOIL: Sale of 2016 Chevrolet Tahoe Approved
----------------------------------------------------
Judge Robert Summerhays of the U.S. Bankruptcy Court for the
Western District of Louisiana authorized Hook and Boil, LLC's sale
of 2016 Chevrolet Tahoe.

A hearing on the Motion was held on July 17, 2018.

Counsel for the Debtor:

          William C. Vidrine, Esq.
          VIDRINE & VIDRINE
          711 W. Pinhook Road
          Lafayette, LA 70503
          Telephone: (337) 233-519
          E-mail: williamv@vidrinelaw.com

                     About Hook and Boil

Hook and Boil, LLC, sought Chapter 11 protection (Bankr. W.D. La.
Case No. 18-50798) on June 28, 2018.  In the petition signed by
Mark Alleman, manager/member, the Debtor estimated assets in the
range of $100,001 to $500,000 and debt of $500,001 to $1 million.
The Debtor tapped William C. Vidrine, Esq., at Vidrine & Vidrine,
as counsel.  


HORNED DORSET: ITC Violated Automatic Stay, Court Rules
-------------------------------------------------------
The Horned Dorset Primavera Inc. filed a Motion for Civil Contempt
for Violation of the Automatic Stay Injunction against Inmobiliaria
T&C, Inc. alleging a willful violation of the automatic stay based
on ITC's post-petition written request to the Property Registrar of
Aguadilla to alter the rank of the Debtor's recorded right of
usufruct, in order for the Debtor's property interest (recorded
right of usufruct) to be junior to two mortgage liens that encumber
the real property. Upon review, Bankruptcy Judge Enrique S.
Lamoutte granted the Debtor's motion.

After considering the relevant facts and applicable legal
provisions of the Puerto Rico Civil Code, Puerto Rico Mortgage and
Property Registry act of 1979, the Real Property Registry Act of
2015, and the Bankruptcy Code, the Court finds and concludes that
ITC violated the automatic stay provisions of section 362(a)(4)
when it filed the "Instancia" (document) by which it requested the
Property Registrar to alter the ranks of the liens and subordinate
the Debtor's deed of usufruct (lien) to that of one of the
mortgages, meaning that the Debtor's real property rights were
altered resulting in its usufruct lien having an inferior rank
without requesting relief from the automatic stay from the
Bankruptcy Court. Moreover, ITC did not obtain the consent of the
Debtor, as an affected titleholder pursuant to Article 151 of the
prior mortgage law which was the one in effect at the time. The
court holds that the ministerial act exception does not apply to
the instant case.

The Property Registrar acted upon the "Instancia" or document filed
and proceeded to alter the ranks. The court concludes that ITC's
actions are void and therefore have no effect. Therefore, the
actions taken by the Property Registrar altering the ranks of the
liens are also void.

The Debtor's Motion for Civil Contempt for Violation of the
Automatic Stay Injunction against ITC for a willful violation of
the automatic stay under 11 U.S.C.  section362(a) is granted.

However, the court also holds that the Debtor is not entitled to
its remedy (for sanctions) regarding civil contempt because the
Debtor waived the same in the Stipulation with ITC, which this
Court approves.

A full-text copy of  the Court's Opinion and Order dated July 27,
2018 is available at:

       http://bankrupt.com/misc/prb15-03837-11-466.pdf

             About The Horned Dorset Primavera

The Horned Dorset Primavera Inc. operates the Horned Dorset
Primavera, a small luxury hotel located in northwestern Puerto
Rico, two miles from the town of Rincon.  The hotel --
http://www.horneddorset.net/-- is set among rolling hills at the
edge of the beautiful Caribbean Sea and is known for reserved
European service executed in an atmosphere unique in  Puerto Rico
and the award-winning Restaurant Aaron.  The hotel is a member of
Relais & Chateaux.

The Horned Dorset Primavera Inc. commenced a Chapter 11 bankruptcy
case (Bankr. D.P.R. Case No. 15-03837) in Old San Juan, Puerto Rico
on May 22, 2015.

According to the docket, the Debtor's Chapter 11 plan is due Nov.
18, 2015.

The Debtor has tapped Isabel M. Fullana, Esq., at Garcia Arregui &
Fullana PSC, as counsel.


ICONIX BRAND: Reports Second Quarter Net Loss of $79.4 Million
--------------------------------------------------------------
Iconix Brand Group, Inc. has filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q reporting a net loss
attributable to the Company of $79.42 million on $50.21 million of
licensing revenue for the three months ended June 30, 2018,
compared to net income attributable to the Company of $43.64
million on $61.64 million of licensing revenue for the same period
last year.

For the six months ended June 30, 2018, the Company reported a net
loss attributable to the Company of $51.67 million on $98.76
million of licensing revenue compared to net income attributable to
the Company of $39.36 million on $120.37 million of licensing
revenue for the six months ended June 30, 2017.

As of June 30, 2018, Iconix Brand had $730.18 million in total
assets, $795.19 million in total liabilities, $29.29 million in
redeemable non-controlling interest and a total stockholders'
deficit of $94.30 million.

Peter Cuneo, interim CEO and chairman of the Board commented,
"Iconix delivered financial results in line with our expectations
for the second quarter and we do not anticipate any major changes
to our full year projections.  The highlight of the quarter was the
announcement that our Iconic Brand, Starter, is returning to the
Football Field through a collaboration with the Alliance of
American Football Association, which is set to commence play in
February 2019.  Starter will become the official on-field outfitter
of all uniforms and sideline apparel for all Alliance teams.  We
are also exploring additional opportunities to expand marketing and
merchandising beyond the field.  In other news, we announced that a
Cooperation Agreement has been reached with Sports Direct
International pursuant to which Iconix has appointed Justin Barnes
to our Board of Directors.  We are pleased to move into the future
with a stable Board and look forward to Justin's unique business
perspective."

David Jones, chief financial officer of Iconix commented, "With a
stable balance sheet, we continue to focus on the business and have
seen our licensing activity pick up year-over-year.  We were
pleased to register organic growth in both our Men's and
International segments for both the second quarter of 2018 and the
first half of 2018.  Our brands in transition continue to draw a
lot of interest and we are working through several promising
opportunities.  Globally, during the first six months of 2018, we
have signed 43 new and replacement license agreements, a 30%
increase over the prior year.  We have also renewed 51 license
agreements, a 60% increase over the first half of 2017.  We enter
the second half of 2018 with a continued focus on generating new
business, while supporting our existing partners to drive future
growth."

2018 Guidance:

   * Anticipating lower end of full year revenue guidance of $190
     million to $220 million.

   * GAAP net income guidance now a loss of approximately $94.4
     million to $104.4 million, principally due to a Q2 trademark
     and goodwill impairment

   * Anticipating low end of full year non-GAAP net income
     guidance of $20 million to $30 million

   * Reiterating full year free cash flow guidance of $50 million
     to $70 million

In the first quarter of 2018, the Company adopted a new revenue
recognition accounting standard (ASU No. 2014-09 Revenue from
Contracts with Customers - Topic 606).  Adoption of the standard
increased Q2 2018 revenue by approximately $0.1 million and
decreased revenue by $1.8 million for the six months ended
June 30, 2018, but is expected to increase full-year 2018 revenue
by approximately $2.5 to $3.0 million.

For the second quarter of 2018, total adjusted revenue was $50.2
million, a 17% decline as compared to $60.7 million in the prior
year quarter.  For the six months ended June 30, 2018, total
adjusted revenue was $98.8 million, a 17% decrease as compared to
$118.4 million in the six months ended June 30, 2017.  Such decline
was expected principally as a result of the transition of our
Danskin, OP and Mossimo DTR's in the Company's Women's segment, as
previously announced.

The Company's Men's segment provided organic growth in the second
quarter of 2018 and through the six months ended June 30, 2018
primarily from the Umbro and Buffalo brands.  The Company's
International segment also provided organic growth primarily from
the Umbro and Lee Cooper brands.

The Home segment declined 11% for the second quarter of 2018 and
six months ended June 30, 2018.  However, as previously discussed,
a portion of this decrease was due to a shift in Charisma timing
which the Company still anticipates recovering during the balance
of the year.  In addition, also as previously discussed, revenue in
the home segment year-over-year is partially down due to the terms
of a renewal of the Waverly inspirations contract with Walmart.
Finally, the new revenue recognition standard has a negative effect
on the Royal Velvet license agreement as the Company will record
less revenue in 2018 than the current guaranteed minimum royalty.

SG&A Expenses:

Total SG&A expenses in the second quarter of 2018 were $28.6
million, a 7% increase compared to $26.8 million in the second
quarter of 2017.  However, 2018 includes $2.7 million of special
charges primarily consisting of severance charges for the Company's
previous chief executive officer and $2.9 million of costs
associated with recent debt financings.  Adjusting for these items
in 2018 and special charges of $2.5 million in 2017, SG&A decreased
approximately $1.2 million or 5%.  Stock based compensation was
$0.5 million in the second quarter of 2018 as compared to $3.1
million in the second quarter of 2017.

Total SG&A expenses in the six months ended June 30, 2018 were
$62.2 million, a 19% increase compared to $52.2 million in the six
months ended June 30, 2017.  However, 2018 includes $5.4 million of
special charges, $8.3 million of costs associated with recent debt
financings, $2.6 million of restructuring costs and a $1.1 million
non-cash purchase accounting adjustment.  Adjusting for these items
in 2018 and special charges of $4.7 million in 2017, SG&A decreased
$2.7 million or 6%.  Stock based compensation was $1.5 million in
the six months ended June 30, 2018 as compared to $4.7 million in
the six months ended June 30, 2017.

Loss on termination of licenses:

Loss on termination of licenses in the second quarter of 2018 was
$5.7 million versus $23.2 million in the second quarter of 2017.
The charge in the second quarter of 2018 was related to a
litigation settlement with a previous licensee for the Rocawear
brand while the charge in the second quarter of 2017 was related to
the transition of a license for the Umbro brand.

Gain on sale of trademarks and gain on deconsolidation of joint
venture:

Gain on sale of trademarks in the second quarter of 2018 were $0.1
million.  The gain on sale of trademarks for the current quarter
was related to the completion of the sale of the Sharper Image
trademarks from the Company's Iconix Australia joint venture.

Gain on deconsolidation of joint venture was $3.8 million in the
second quarter of 2017 for which there was no comparable amount in
the second quarter of 2018.  The gain on deconsolidation of joint
venture was related to the Company's deconsolidation of its Iconix
Southeast Asia joint venture.

Trademark and Goodwill Impairment:

In the second quarter of 2018, the Company recorded a non-cash
trademark charge of $73.3 million in the women's segment related to
a write-down in the Mossimo trademark.  The Company also recorded a
non-cash goodwill impairment charge of $37.8 million in the women's
segment as a result of the impairment of the Mossimo trademark.

Operating loss for the second quarter of 2018 was $94.6 million, as
compared to operating income of $15.9 million in the second quarter
of 2017.  Operating loss in the second quarter of 2018 included
goodwill and trademark impairments of $111.1 million, special
charges of $2.7 million, costs associated with recent debt
financings of $2.9 million, a loss on termination of licenses of
$5.7 million and gain on sale of trademarks of $0.1 million.
Operating income in the second quarter of 2017 included special
charges of $2.5 million, loss on termination of licenses of $23.2
million and a gain on deconsolidation of joint venture of $3.8
million.  When excluding these items, adjusted operating income was
$27.7 million and $37.9 million in the second quarter of 2018 and
the second quarter of 2017, respectively, and adjusted operating
margin was 55% and 62% in the second quarter of 2018 and the second
quarter of 2017, respectively.  The decline in adjusted operating
income and adjusted operating margin is primarily due to the
decline in licensing revenue from the transition of our Danskin, OP
and Mossimo DTR's.

Operating loss for the six months ended June 30, 2018 was $79.1
million, as compared to operating income of $49.5 million in the
six months ended June 30, 2017.  Operating loss in the six months
ended June 30, 2018 included goodwill and trademark impairments of
$111.1 million, special charges of $5.4 million, costs associated
with recent debt financings of $8.3 million, restructuring costs of
$2.6 million, a $1.1 million non-cash purchase accounting
adjustment, a loss on termination of licenses of $5.7 million and
gain on sale of trademarks of $1.3 million.  Operating income in
the six months ended June 30, 2017 included special charges of $4.7
million, loss on termination of licenses of $23.2 million and a
gain on deconsolidation of joint venture of $3.8 million.  When
excluding these items, adjusted operating income was $50.2 million
and $73.7 million in the six months ended June 30, 2018 and the six
months ended June 30, 2017, respectively, and adjusted operating
margin was 51% and 62% respectively. The decline in adjusted
operating income and adjusted operating margin is primarily due to
the decline in licensing revenue from the transition of our
Danskin, OP and Mossimo DTR's.

Interest Expense, Other Income and Loss on extinguishment of debt:

Interest expense in the second quarter of 2018 was $14.8 million,
as compared to interest expense of $14.1 million in the second
quarter of 2017.
In the second quarter of 2018, the Company recognized a $32.1
million gain resulting from the Company's accounting for the 5.75%
Convertible Notes which requires recording the fair value of this
debt at the end of each period with any change from the prior
period accounted for as other income or loss in the current
period's income statement.  There is no comparable amount in the
second quarter of 2017.  The Company has excluded these amounts
from its non-GAAP results.

In the second quarter of 2017, the Company recognized a $13.9
million expense related to the early extinguishment of a portion of
the Company's 2016 Senior Secured Term Loan of which there was no
comparable amount for the second quarter of 2018.

Provision for Income Taxes:

The effective income tax rate for the second quarter of 2018 is
approximately 3.6% which resulted in a $2.8 million income tax
benefit, as compared to an effective income tax rate of 35.6% in
the prior year quarter which resulted in a $5.5 million income tax
benefit.  The decrease in the effective tax rate for the second
quarter is primarily as a result of the benefit associated with the
impairment charge of trademark and goodwill which was significantly
reduced due to a valuation allowance against the asset.  This
valuation allowance charge had the effect of reducing the benefit
on the loss which reduces the effective tax rate in the current
quarter.  Excluding any mark-to-market adjustments from the
Company's 5.75% Convertible Notes, we expect the full year 2018 tax
rate to be approximately (8)% and approximately 28% on a GAAP basis
and non-GAAP basis, respectively.

A full-text copy of the Form 10-Q is available for free at:

                        https://is.gd/x7uoil

                         About Iconix Brand

Broadway, New York-based Iconix Brand Group, Inc. --
http://www.iconixbrand.com/-- is a brand management company and
owner of a diversified portfolio of over 30 global consumer brands
across the women's, men's, entertainment, home and international
segments.  The Company's business strategy is to maximize the value
of its brands primarily through strategic licenses and joint
venture partnerships around the world, as well as to grow the
portfolio of brands through strategic acquisitions.  Iconix Brand
owns, licenses and markets a portfolio of consumer brands
including: Candie's, Bongo, Joe Boxer, Rampage, Mudd, London Fog,
Mossimo, Ocean Pacific/OP, Danskin/Danskin Now, Rocawear/Roc
Nation, Cannon, Royal Velvet, Fieldcrest, Charisma, Starter,
Waverly, Ecko Unltd/Mark Ecko Cut & Sew, Zoo York, Umbro, Lee
Cooper, and Artful Dodger; and interests in Material Girl, Ed
Hardy, Truth or Dare, Modern Amusement, Buffalo, Hydraulic, and
PONY.

Iconix Brand incurred a net loss attributable to the Company of
$489.3 million in 2017, a net loss attributable to the Company of
$252.1 million in 2016 and a net loss attributable to the Company
of $186.5 million in 2015.  As of March 31, 2018, Iconix Brand had
$852.4 million in total assets, $832.5 million in total
liabilities, $29.79 million in redeemable non-controlling interest
and a $9.86 million total stockholders' deficit.

The Company stated in its 2017 Annual Report that due to certain
developments, including the decision by Target Corporation not to
renew the existing Mossimo license agreement following its
expiration in October 2018 and by Walmart, Inc. not to renew the
existing Danskin Now license agreement following its expiration in
January 2019, and the Company's revised forecasted future earnings,
the Company forecasted that it would unlikely be in compliance with
certain of its financial debt covenants in 2018 and that it may
otherwise face possible liquidity challenges in 2018.  The Company
said these factors raised substantial doubt about its ability to
continue as a going concern.  The Company's ability to continue as
a going concern is dependent on its ability to raise additional
capital and implement its business plan.


INDUSTRIAL STRENGTH: Lease of Non-Residential Property Approved
---------------------------------------------------------------
Judge Caryl E. Delano of the U.S. Bankruptcy Court for the Middle
District of Florida authorized Industrial Strength, Inc. to enter
into a lease of the premises described as Units D & E of the
non-residential property located at 12345 62nd Street N., Largo,
Florida, more particularly described as: Pinellas Grove SE 1/4, N
308.7 Ft OF S 618 Ft(s) of Lot 7 Less Rd R/W retroactive to June 1,
2018 at a rate of $3,035 per month and pursuant to the terms
contained in the lease.

A hearing on the Motion was held on July 25, 2018, at 2:30 p.m.

                 About Industrial Strength

Industrial Strength, Inc., is a company focused on full-service
audio, video, lighting and custom staging design elements in
support of the live events industry.  It also offers wholesale
equipment rentals for the production and audio-visual industry,
along with a small number of specialized products for within the
industry. Its principal place of business is located in Pinellas
County, Florida.

Industrial Strength sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. M.D. Fla. Case No. 18-03704) on May 3,
2018.  In the petition signed by Fredrick D. Hadden, president, the
Debtor estimated assets of less than $500,000 and liabilities of
less than $1 million.  The Debtor tapped Iurillo Law Group, P.A.,
as its legal counsel.


ITM ENTERPRISES: $520K Sale of Interest in Golden Chick Approved
----------------------------------------------------------------
Judge Mark X. Mullin of the U.S. Bankruptcy Court for the Northern
District of Texas authorized ITM Enterprises, LLC's sale of its
interests in Golden Chick restaurant in Terrell, Texas to Su Chi
Kim and Hae Wook Chan for $520,000.

The Debtor is authorized to sell to the Buyer these assets:

     (a) All the stock in trade, merchandise, and inventory of The
Golden Chick owned by the Seller located at 1700 State Highway 34
South, Terrell Texas, and at any warehouse used in connection
therewith, or paid for inventory in transit, if any;

     (b) All furniture fixtures, equipment, supplies, shelving,
display cabinets, and other miscellaneous items that are used in
the operation of the Restaurant;

     (c) All accounts receivable of the Restaurant;

     (d) All rights and interests in and to the real estate lease
subject to the approval from the landlord;

     (e) All the Debtor's right to use any formulae, know-how,
pricing policies, trade secrets, inventions, processes, market
information, market analysis, marketing plans, operating or
management policies, procedures, forms, computer software, computer
equipment, and all other proprietary rights and used or useful or
developed for use in the business of the Restaurant, subject to any
restrictions on such right set forth in any franchise agreement or
otherwise;

     (f) All the Debtor's rights, title and interest in and to the
name of Golden Chick, or any variant of the name, subject to any
restrictions on such right set forth in any franchise agreement or
otherwise;

     (g) All permits, licenses and franchises, consents,
authorities, special authorities, and other similar acts of any
governmental body (federal, state, local or foreign) held by Seller
that may be lawfully assigned or transferred, subject to any action
by such body and that may be required in connection with such
assignment or transfer;

     (h) All customer lists;

     (i) Goodwill of Seller; all other assets of the Restaurant.

     (j) The Debtor's rights in its real property lease with
Cockrell Illinois, LLC for the rental of the real property located
at 1700State Highway 34, Terrell, Texas; and

     (k) The Debtor's rights and rights, duties and authorities
under that certain Franchise Agreement between Debtor and Golden
Franchising Corporation dated June 7, 2017, subject to any
restrictions set forth in such Franchise Agreement.

The sale of the Assets authorized is free and clear of any and all
liens, claims, and encumbrances.

At Closing, the Debtor will cause and instruct the closing agent
coordinating the sale of the Assets to pay in full from the
proceeds of the sale of the Assets, and the Debtor is authorized
and directed to pay, the amounts as follows: (i) all reasonable,
customary and usual costs of Closing in the sale of the Assets
including, without limitation, title policy cost, taxes, attorney
and documents fees, and brokerage commission; (ii) the amount
necessary to pay the lien claims of Compass Batik on the Assets in
the amount of $326,891; and (iii) all remaining proceeds will be
held in the DIP Account pending further Order of the Court.

The year of closing (i.e. 2018) ad valorem tax lien will be
expressly retained on the Assets until payment by the Buyer of the
year of closing taxes, plus any penalties or interest which may
ultimately accrue thereon, in the ordinary course of business.  All
liens, claims, and encumbrances, will attach to the Proceeds, with
the validity, amount, and priority of such lien, claim, or
encumbrance to be determined by the Court at a later date.

The stay provisions of Bankruptcy Rule 6004(h) will not apply to
the Order, and the closing may occur without a 14-day waiting
period.

                    About ITM Enterprises

ITM Enterprises, LLC, filed a Chapter 11 bankruptcy petition
(Bankr. N.D. Tex. Case No. 18-40767-11) on Feb. 28, 2018.  The
Debtor hired Eric A. Liepins, Esq., at Eric A. Liepins, P.C., as
counsel.


JHL INDUSTRIAL: Taps Houlihan & Associates as Accountant
--------------------------------------------------------
JHL Industrial Services, LLC seeks approval from the U.S.
Bankruptcy Court for the District of Colorado to hire Houlihan &
Associates, P.C. as its accountant.

The firm will assist the Debtor in preparing its tax returns,
tax-related documents and financial reports; provide income tax
consulting services; and assist the Debtor in connection with the
disputed claim filed by the Internal Revenue Service.

Robert Houlihan, chief executive officer of Houlihan, will
supervise the accounting services to be provided by the firm.  He
will charge an hourly fee of $200.  Other Houlihan professionals
will charge $120 per hour.

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

The firm can be reached through:

     Robert Houlihan
     Houlihan & Associates, P.C.
     4240 Hickory Lane, Suite 100
     Sioux City, IA 51106
     Telephone: (712) 255-3450
     Fax: (712) 255-4997
     Email: info@houlihancpa.com

                   About JHL Industrial Services

JHL Industrial Services, LLC, which conducts business under the
name Platt Rogers Company -- http://www.plattrogers.com/--
provides niche services including custom fuel system installation,
civil construction, integrated agricultural feed and water
solutions, piping process, new construction and renovation of
facilities and plant, demolition, environmental construction, fuel
distribution, fuel management and energy economizing and
alternative energies distribution system installation.  

JHL Industrial Services, based in Lakewood, Colorado, filed a
Chapter 11 petition (Bankr. D. Colo. Case No. 17-14141) on May 5,
2017.  In its petition, the Debtor estimated $505,500 in total
assets and $1.02 million in total liabilities.  The petition was
signed by Jason Grubb, managing member.

The Hon. Joseph G. Rosania Jr. presides over the case.  

David Warner, Esq., at Sender Wasserman Wadsworth, P.C., serves as
bankruptcy counsel to the Debtor.


KOSMOS ENERGY: S&P Puts 'B' Issuer Credit Rating on Watch Positive
------------------------------------------------------------------
S&P Global Ratings placed its ratings on Kosmos Energy Ltd,
including its 'B' issuer credit rating, on CreditWatch with
positive implications. S&P also placed its 'B-' issue-level rating
on the company's senior secured debt on CreditWatch positive.

The CreditWatch placement follows Kosmos' announcement that it will
acquire Deep Gulf Energy DGE, a deepwater E&P company operating in
the Gulf of Mexico, for $1.225 billion. Kosmos intends to fund the
acquisitions with $300 million in common equity and $925 million of
cash and borrowings under its credit facilities. At the end of June
2018, the company had $116 million in non-restricted cash and a
total of $1.2 billion available under its reserve based landing
facility (RBL) and revolving credit facility.

DGE's properties consist of a 50% net working interest in 16
deepwater offshore wells in the Gulf of Mexico. These assets will
add approximately 25,000 barrels of oil equivalent per day (boe/d)
production (about 85% oil). Pro forma for the acquisition,
production at Kosmos will grow to 70,000 boe/d from approximately
45,000 boe/d in 2018. S&P said, "We believe this acquisition will
strengthen Kosmos' business risk profile, enhancing its scale,
reserves, production, and geographical diversification in the U.S.,
which we view as a very low risk country. The company's main
producing assets are now offshore Ghana and Equatorial Guinea.
Despite the large cash component of the acquisition funding, we
believe the combined company's debt metrics will remain adequate.
Pro forma for the acquisition, we forecast free cash flow to be
positive over the next couple of years, with moderate debt to
EBITDAX of 2x or less at year-end 2018."

CreditWatch

S&P said, "The CreditWatch placement reflects the possibility that
we will raise our ratings on Kosmos by one notch when the
transaction closes, as the company will benefit from larger
reserves and production, as well as from geographical
diversification. In addition, we expect core leverage ratios to
remain moderate pro forma for the acquisition. However, several
variables such as estimated production, operating costs, capital
expenditures, expected ultimate capital structure, and liquidity
are unknown at this time.

"We intend to resolve the CreditWatch placement around the close of
the transaction, which we expect by the end of the third quarter of
2018."


KSA INVESTMENTS: Trustee Taps IMC as Property Manager
-----------------------------------------------------
Marc Baer, the Chapter 11 trustee for KSA Investments, LLC, seeks
approval from the U.S. Bankruptcy Court for the District of
Maryland to hire Investors Management Co., Inc.

The firm will manage the Debtor's rental properties located in
Baltimore City, Maryland.

Investors Management's fees are based on the rate of 10% of actual
rental collections, 50% of the first month's rent as to any units
directly re-rented by the firm.  The firm will also receive a 10%
surcharge on the actual costs for all necessary repairs and
maintenance.  The firm is requesting the estate to fund a reserve
fund in the amount of $1,000.

Mark Chodak, president of Investors Management, disclosed in a
court filing that his firm is a "disinterested person" as defined
in section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Mark S. Chodak
     Investors Management Co., Inc.
     2528 Maryland Avenue
     Baltimore, MD 21218  
     Phone: 410-235-1220
     Fax: 410-235-7188

                       About KSA Investments

KSA Investments, LLC, owner of 5 rental properties located in
Baltimore City, Maryland, filed a Chapter 11 petition (Bankr. D.
Md. Case No. 18-13303) on March 14, 2018.  In its petition signed
by its member Kamina Samie, the Debtor estimated $100,000 to
$500,000 in assets and liabilities.  The Law Offices of E.
Christopher Amos serves as counsel.


LAKEPOINT LAND: Plan Proposes Formation of New HoldCo
-----------------------------------------------------
Lakepoint Land, LLC, and its affiliates filed a disclosure
statement for their joint chapter 11 plan of reorganization dated
July 31, 2018.

After extensive arms-length negotiations, on May 21, 2018, the
Debtors executed a restructuring support agreement with Rimrock
High Income Plus (Master) Fund, LTD, LP Investments I, LLC,
LakePoint Investors, LLC, LakePoint Sports Development Group, LLC,
certain holders of the Preferred Membership Interests, the holder
of 100% of the Affiliate Notes, the holders of 100% of the
Executive Compensation Claims, and holders of 94% in amount and
more that 85% in number of the MOU Claims. Under the terms of the
Restructuring Support Agreement, the parties agreed to a
restructuring of the obligations and ownership of the Debtors to be
implemented through a joint chapter 11 plan of reorganization for
the Debtors on the terms and conditions set forth in the plan term
sheet.

The Plan is structured as a joint plan. Notwithstanding the
combination of separate plans of reorganization for the Debtors
that are set forth in the Plan for purposes of economy and
efficiency, the Plan constitutes a separate chapter 11 plan for
each Debtor.

The Plan classifies all Claims against and Interests in the Debtors
into 11 separate Classes. The Plan generally provides for the
following:

   * The formation of New HoldCo, which will hold 100% of the
equity interests in Reorganized LPL upon the Effective Date.

   * On the Effective Date (or as soon as reasonably practicable
thereafter), in exchange for the complete settlement, release,
discharge, cancellation (as applicable), and extinguishment (as
applicable) of the Prepetition Lender Claims, the Affiliate Note
Claims, the MOU Claims, the Executive Compensation Claims, the
Preferred Membership Interests, and Common Member Interests, the
holders of such Claims and Interests will receive New Membership
Units issued by New HoldCo.

   * The cancellation, extinguishment, and discharge of the Rimrock
Investor Membership Interests in LPL.

   * Intercompany Claims are unimpaired and shall be (i)
reinstated, in full or in part, and treated in the ordinary course
of business, or (ii) cancelled and discharged, as determined by the
Debtors with the consent of the Prepetition Lender.

   * All Other Secured Claims, Other Priority Claims, and General
Unsecured Claims are unimpaired by the Plan and will be satisfied
in full.

   * Contribution by Rimrock Investor of the Exit Equity
Contribution.

   * Entry by the Reorganized Debtors into the Exit Facility.

To the extent not otherwise paid, the Debtors will promptly pay
outstanding and invoiced Restructuring Expenses as follows: (A) on
the Effective Date, Restructuring Expenses incurred during the
period prior to the Effective Date to the extent invoiced to the
Debtors at least two Business Days in advance and (B) after the
Effective Date, any unpaid Restructuring Expenses within five
Business Days of receiving an invoice; provided that such
Restructuring Expenses will be paid in accordance with the terms of
any applicable engagement letters or other contractual arrangements
without the requirement for the filing of retention applications,
fee applications, or any other applications in the Chapter 11
Cases, and without any requirement for further notice or Bankruptcy
Court review or approval; provided further that to the extent
timely invoiced Restructuring Expenses are not paid by the Debtors
within the timeframes set forth in Section 5.1 of the Plan such
Restructuring Expenses will not be waived and will be included in a
subsequent invoice.

A full-text copy of the Disclosure Statement is available at:

      http://bankrupt.com/misc/ganb18-41337-89.pdf

                    About LakePoint Land

LakePoint Land, LLC was formed for the business of assembling,
acquiring, and developing a project in Bartow County, Georgia.  The
project, sometimes referred to as "LakePoint Sporting Community &
Town Center" or "LakePoint Sporting Community" --
https://www.lakepointsports.com/ -- initially consisted of 1,200+
acres of real property located in Bartow County, City of Emerson,
Georgia, which LPL acquired from Blankenship & Gaskin Properties,
LLC in August 2011 for a purchase price of $16.77 million.  At such
time LPL also acquired certain other smaller in-fill properties
from other parties.  In December 2012, LPL acquired an additional
74+ acres adjacent parcel from Allatoona Distribution, LLC for a
purchase price of $9.839 million, bringing the total project
acreage to 1,274+ acres.

LPL has developed a portion of the Project known as the "South
Campus" -- i.e., an approximately 155 acre portion of the Project
located west of Interstate 75 and south of a railroad line running
just north of and parallel to Emerson-Allatoona Road -- as a mixed
use, amateur/youth sporting tournament vacation destination
centered around approximately 58 acres of indoor and outdoor sports
tournament venues, presently including baseball, softball,
lacrosse, soccer, wake-boarding, indoor and outdoor volleyball, and
basketball, among other current facilities and uses.  In 2017, the
Project attracted over 1.1 million visitors and is projected to
attract over 1.2 million visitors in 2018.

LakePoint Land, LLC and seven affiliates sought Chapter 11
protection (Bankr. N.D. Ga. Lead Case No. 18-41337) on June 11,
2018.  In its petition, LakePoint Land disclosed $100,001 to
$500,000 in assets and $50 million to $100 million in liabilities.
The Hon. Barbara Ellis-Monro is the case judge.  The Debtors tapped
Arnall, Golden, Gregory LLP as counsel; Vantage Point Advisory,
Inc., as financial advisor; and Garden City Group, LLC, as claims
agent.


LIBERTY ASSET: $75K Sale of Duarte Property Approved
----------------------------------------------------
Judge Ernest M. Robles of the U.S. Bankruptcy Court for the Central
District of California authorized Liberty Asset Management Corp.'s
sale of the vacant land located in City of Duarte, County of Los
Angeles, California, APN: 8602-018-005, and referred to as the Mel
Canyon land, to Mai Thon Ly for $75,000.

A hearing on the Motion was held on July 12, 2018 at 11:00 a.m.

The sale is free and clear of all Interests.

The Debtor, through Lawrence Perkins, is authorized to enter into,
execute and deliver all sale and escrow documents and to perform
the Debtor's obligations under the documents and consummate any
transactions contemplated thereby.  In addition, the Plan
Administrator's written consent will be required to close the
transaction contemplated.

The Debtor's employment of Coldwell Banker as its real estate
broker to market and sell the Property, and the compensation
related thereto, is approved upon the terms and conditions set
forth in the Listing Agreement.

The Buyer will close escrow, and consummate the sale of the
Property, not later than 15 days after the entry of the Order.  In
the event that escrow is not timely closed through the fault of the
Buyer, the Buyer's deposit will be forfeited to the Debtor without
further notice or order.  

Upon closing, the Debtor will pay over, or instruct escrow to pay
over, the proceeds realized by the Debtor from the sale of the
Property as follows: (i) customary and ordinary closing costs,
including escrow and title costs; (ii) broker commissions to the
respective real estate brokers; and (iii) unpaid and outstanding
real property taxes due and owing to Los Angeles County Treasurer
and Tax Collector, or any pro-rated portion thereof based on the
date of closing of the sale.

The balance of the sale proceeds will be transferred to Bradley D.
Sharp, Plan Administrator under the Confirmed First Amended Chapter
11 Plan of Liquidation Dated Jan. 31, 2018 in the Debtor's
bankruptcy case.

All time periods set forth in the Order will be calculated in
accordance with Bankruptcy Rule 9006(a).

Notwithstanding Bankruptcy Rule 6004(h), the Order will be
effective and enforceable immediately upon entry and will not be
subject to any stay as provided therein and its provisions will be
self-executing.

                About Liberty Asset Management

Before ceasing operations, West Covina, California-based Liberty
Asset Management Corporation was a real estate management company.
Its mission was to seek out real estate opportunities throughout
Northern and Southern California, invest in such opportunities, and
manage them.

Liberty Asset Management Corporation filed for Chapter 11
protection (Bankr. C.D. Cal. Case No. 16-13575) on March 21, 2016.
The Debtor estimated assets at $100 million to $500 million and
debt at $50 million to $100 million.  The petition was signed by
Benjamin Kirk, CEO.

The Debtor tapped Leven Neale Bender Yoo & Brill LLP, as counsel.
The Debtor also engaged SierraConstellation Partners LLC, as
restructuring management advisor, and Lawrence R. Perkins, as chief
restructuring officer.

The Office of the U.S. Trustee on April 27, 2016, appointed three
creditors to serve on an official committee of unsecured creditors.
The Committee tapped Jeremy V. Richards, Esq., John D. Fiero,
Esq., Gail S. Greenwood, Esq., and Victoria A. Newmark, Esq., at
Pachulski Stang Ziehl & Jones LLP, in Los Angeles, California, as
counsel.  Development Specialists Inc. serves as the Committee's
financial advisor.


MACAVITY COMPANY: Court Won't Review Integra Fee Reduction
----------------------------------------------------------
Bankruptcy Judge Brenda K. Martin entered an order denying
Multistate Interests, LLC's motion for reconsideration which urged
the Court to reconsider its fee reduction related to Integra Realty
Resource, claiming that this portion of the Court's order was an
improper sanction.

Counsel for Multistate retained Integra as a consulting expert to
assist in preparation for a two-day trial in December 2018 on the
Debtor Macavity Company LLC's motion for debtor-in-possession
financing. In the morning of the trial, the Debtor and Multistate
settled. As part of the settlement, the amount of Multistate's
allowed fees and costs were to be determined by later agreement.
The parties ultimately could not come to terms and requested the
Court make such determination. Pleadings from the parties ensued,
with Multistate requesting fees and costs of $531,950.15, and the
Debtor asking to reduce the fees and costs to no greater than
$324,000. After reviewing the pleadings and hearing oral arguments
by the parties, the Court ruled from the bench, awarding fees and
costs of $399,752.15. The Court, thereafter, on July 10, 2018
entered the Order Establishing Allowed Secured Claim.

The crux of Multistate's argument for reconsideration is found in
paragraphs 7 and
24 of the Motion for Reconsideration where it argues that the Court
was "mistaken in the sequence of events surrounding the retention
of Integra" which lead the Court to "sanction" Multistate for
failing to disclose Integra's appraisal results to the Debtor.
These paragraphs demonstrate a fundamental misunderstanding of the
Court's ruling. The Court did not sanction Multistate for failing
to disclose Integra's appraisal. In fact, the Court generally
agrees with Multistate that it had no duty to turn over the results
of the appraisal to the Debtor as Integra was employed as a
consulting expert, not a trial expert. The Order was not a
sanction. Instead, due to the scant information regarding what it
learned from Integra, the Court had difficulty assessing the
reasonableness of Multistate's fees.

To be clear, Multistate had no obligation to share what Integra
told it with the
Debtor, the Court, or otherwise make this information public. But,
if it wanted the Court to find its position -- and therefore its
fees -- reasonable, Multistate needed to share this information
with the Debtor and the Court. It did not, so the Court reduced its
fees accordingly. Nothing in the Motion for Reconsideration or
associated Declarations convinced the Court that its Order was
manifestly in error on either the facts or law.

A copy of the Court's Memorandum dated August 1, 2018 is available
at:

     http://bankrupt.com/misc/azb2-17-08474-269.pdf

                   About Macavity Company

Macavity Company, LLC, develops real estate properties.  It was
incorporated in 2008 and is based in Mesa, Arizona.  It has a fee
simple interest in an 861.50-acre undeveloped land located at NW
Corner of Monte Carlo Boulevard and FM 75, Princeton, Texas, valued
at $28 million.

Macavity Company sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Ariz. Case No. 17-08474) on July 24,
2017.  Lane Spencer of Ready RDC LLC, sole member, signed the
petition.  At the time of the filing, the Debtor disclosed $28.12
million in assets and $17.29 million in liabilities.

Judge Brenda K. Martin presides over the case.

Gallagher & Kennedy, PA represents the Debtor as bankruptcy
counsel. The Debtor hires Polsinelli PC, as general bankruptcy and
restructuring counsel; CBRE Inc. as appraiser; and MCA Financial
Group Ltd. as financial advisor.

An official committee of unsecured creditors has not yet been
appointed in the Chapter 11 case.


MACOM TECHNOLOGY: Moody's Cuts CFR to B2 & Alters Outlook to Stable
-------------------------------------------------------------------
Moody's Investors Service downgraded MACOM Technology Solutions
Holdings, Inc.'s Corporate Family Rating to B2 from Ba3,
Probability of Default Rating to B2-PD from Ba3-PD, and senior
secured credit facilities rating to B2 from Ba3. Moody's also
downgraded the Speculative Grade Liquidity rating to SGL-3 from
SGL-2. The rating outlook was changed to stable from negative.

The downgrade of the CFR by two notches reflects weaker than
expected financial performance and Moody's expectation for EBITDA
margins and financial leverage metrics to remain weak over the next
12 to 18 months. Moody's expects MACOM's recovery from both the
slowdown of Chinese communications network infrastructure spending
and the exit from the LR4 module market will remain slow, weighing
on MACOM's revenues and margins in its Telecom segment, such that
debt to EBITDA remains above 6x over the next year.

Downgrades:

MACOM Technology Solutions Holdings, Inc.

Corporate Family Rating, downgraded to B2 from Ba3

Probability of Default Rating, downgraded to B2-PD from Ba3-PD

Senior Secured Revolving Credit Facility, downgraded to B2 (LGD4)
from Ba3 (LGD4)

Senior Secured Term Loan B, downgraded to B2 (LGD4) from Ba3 (LGD4)


Speculative Grade Liquidity rating, downgraded to SGL-3 from SGL-2


Outlook Actions:

MACOM Technology Solutions Holdings, Inc.

The outlook was changed to stable from negative

MACOM's credit profile is constrained as the company has not yet
fully recovered from the revenue and cash flow decline following
the slowdown in Chinese telecom carrier spending on optical network
construction in calendar year 2017, the rapid decline in the LR4
optical interconnect module market as lower priced CWDM4 modules
captured the market in late 2017 and early 2018, and MACOM's
challenges in producing 25-gig lasers. Excess inventory in the
distribution channel following the China telecom spending slowdown
has largely been corrected, MACOM exited the LR4 business in May
2018, and MACOM has greatly improved the yields on the production
of 25-gig lasers. Still, new growth drivers, including the ramp of
spending by Chinese telecom carriers on 5G networks and the
transition of data centers to the 100-gig standard, both of which
should support rapid revenue growth, are not expected to materially
impact MACOM until the end of the first calendar quarter of 2019.

Until then, Moody's believes that MACOM will consume cash at a rate
of about $10 million per quarter. Moody's believes that MACOM has
adequate liquidity, including cash and short term investments ($183
million at June 29, 2018) and up to $56 million of available
borrowing capacity under its revolver, to support cash consumption
until these demand drivers emerge and MACOM begins to generate
materially positive FCF. The rating also reflects the customer
concentration (Huawei Technologies accounted for 10% of FYE 2017
revenues) and the concentrated ownership structure, which may allow
the company to follow a more aggressive financial policy over time.


The B2 CFR reflects MACOM's small scale as a niche player in the
analog semiconductor market, which tends to have longer product
life cycles than the overall semiconductor market, generally
providing some stability to revenues. MACOM also benefits from
valuable intellectual property, which helps the company to maintain
gross margins generally in the upper forties to low fifties percent
level (Moody's adjusted) over time.

The stable outlook reflects Moody's expectation that MACOM will
return to revenue and EBITDA growth in the next few quarters.
Moody's expects that through debt repayment and increasing FCF
generation on EBITDA growth that FCF to debt (Moody's adjusted)
will improve toward the mid-single digits percent level over the
next 12 to 18 months.

Although unlikely in the near-term, the ratings could be upgraded
if MACOM rapidly recovers with revenue growth sustained at least in
the upper single digits percent with improving gross and EBITDA
margins. Moody's would expect for FCF to debt to be sustained at
least in the upper single digits percent level.

The ratings could be downgraded if the liquidity position becomes
pressured. The ratings could also be downgraded if the EBITDA
margin is not on course to rise toward the mid-teens percent level
or if Moody's believes that FCF to debt will remain below the
mid-single digits percent level.

The senior secured credit facilities' B2 rating, the same as the
corporate family rating, reflects the collateral (lien on all
assets and capital stock of domestic subsidiaries), MACOM's
single-class debt structure, with senior secured debt accounting
for the entire debt capital structure, and the limited cushion of
unsecured liabilities.

The Speculative Grade Liquidity rating of SGL-3 reflects MACOM's
adequate liquidity. This is based on Moody's expectation that MACOM
will consume cash over the next two quarters and will generate less
than $50 million of FCF over the next year. Although MACOM has an
unused $160 million senior secured revolver, Moody's believes that
MACOM currently would only be able to draw $56 million of the
revolver, since Moody's believes that the total net leverage ratio
(as defined in the credit agreement), which is tested when revolver
usage exceeds 35%, would exceed the maximum permitted level given
the currently depressed EBITDA. Still, Moody's expects that MACOM
will maintain a balance of cash and short term marketable
investments of at least $125 million.

MACOM Technology Solutions Holdings, Inc., based in Lowell,
Massachusetts, produces high performance analog communication
semiconductor products across the radiofrequency spectrum,
including integrated circuits, diodes, power amplifiers and
transistors, that are used in various end-market applications,
including cellular telephony backhaul, military and commercial
RADAR, car navigation systems, and cable TV set-top boxes. MACOM
utilizes a fab-lite manufacturing model, outsourcing a large
portion of its semiconductor chip manufacturing, which limits
capital expenditures.

The principal methodology used in this rating was Semiconductor
Industry published in July 2018.


MANUS SUDDRETH: $17K Sale of Silverlake's Baltimore Property Okayed
-------------------------------------------------------------------
Judge David E. Rice of the U.S. Bankruptcy Court for the District
of Maryland authorized W.P.I.P., Inc., Patapsco Excavating, Inc.,
and Patapsco Excavating/Silverlake, Inc., to sell outside the
ordinary course of business Silverlake's real property known as
2911 Huron Street, Baltimore City, Maryland to William Negron for
$17,000.

A hearing on the Motion was held on July 16, 2018.

The sale is free and clear of all liens, claims, encumbrances and
other interests.

Negron submitted the highest and best offer for the Property by
bidding $17,000, and Crown Joseph Corp. submitted the next highest
and best offer for the Property by bidding $16,000.

In the event Mr. Negron fails to consummate the proposed sale on
the terms and conditions of the Agreement, or otherwise fails to
perform its obligations thereunder, the Trustee and the Debtors
may, without further Court order, deem Mr. Negron a "Defaulting
Buyer," at which time the Debtors are no longer required to
consummate a sale to Mr. Negron and Mr. Negron automatically
forfeits his Deposit.  In that event, the Trustee and the Debtors
are authorized to sell the Property to Crown Joseph Corp. for
$16,000 on the terms and conditions set forth in the Order and the
Agreement.

In the event Crown Joseph Corp. fails to consummate the proposed
sale on the terms and conditions of the Agreement, or otherwise
fails to perform its obligations thereunder, the Debtors may,
without further Court order, deem Crown Joseph Corp. a "Defaulting
Buyer," at which time the Debtors are no longer required to
consummate a sale to Crown Joseph Corp. and Crown Joseph Corp.
automatically forfeits its Deposit.

At Closing, the Debtors will distribute the sale proceeds as
follows:

     (a) All real estate taxes and assessments, and all
post-petition water or sewer charges, gas, electric, telephone,
other utilities and other similar obligations owed by the Debtors
in connection with the Silverlake Property up to but not including
the date of closing;

     (b)Reimbursement to the Suddreth bankruptcy estate for all
real estate taxes paid in April 2018 (approximately $2,000);

     (c) A carve-out for Silverlake's bankruptcy estate in the
amount of 20% of the gross proceeds of sale;

     (d)The fixed fee earned by A&G in the amount of 3% of the
gross proceeds of sale; and

     (e) The balance to C&G Properties, LLC, which holds a first
lien on the Property.

No payments, other than those set forth, will be made from the
Purchase Price at Closing.

The Carve-Out will be held by the Trustee for the benefit of
Silverlake's bankruptcy estate pending further order of the Court
entered subsequent to entry of the Order.

All time periods set forth in the Order will be calculated in
accordance with Bankruptcy Rule 9006(a).

Notwithstanding Bankruptcy Rule 6004, the Order will be effective
and enforceable immediately upon entry and its provisions will be
self-executing, and the Motion or notice thereof will be deemed to
provide sufficient notice of the Debtors' request for waiver of the
otherwise applicable stay of the Sale Order.  In the absence of any
person or entity obtaining a stay pending appeal, the Debtors and
the Purchaser are free to close under the Agreement at any time,
subject to the terms of the Agreement.

A copy of the Agreement attached to the Order is available for free
at:

   http://bankrupt.com/misc/Manus_Suddreth_605_Order.pdf

                  About Manus Edward Suddreth

Manus Edward Suddreth, the sole shareholder of W.P.I.P., Inc.,
filed for Chapter 11 bankruptcy protection (Bankr. D. Md. Case No.
13-12978) on Feb. 21, 2013.

On Dec. 28, 2016, the Court appointed Joseph J. Bellinger, Jr., as
Chapter 11 Trustee.  On July 21, 2017, the Court appointed Charles
R. Goldstein as Chapter 11 Trustee.

On Nov. 6, 2017, the Court entered an order authorizing the
Trustee's retention of A&G Realty Partners, LLC, as real estate
consultant and advisor.

On July 21, 2017, the Court appointed Charles R. Goldstein as the
Chapter 11 Trustee.


MATADOR RESOURCES: Moody's Rates New $700MM Senior Notes 'B2'
-------------------------------------------------------------
Moody's Investors Service assigned a B2 rating to Matador Resources
Company's proposed issuance of $700 million senior notes due 2026.
Matador's other ratings including its B1 Corporate Family Rating,
B1-PD Probability of Default Rating (PDR) and SGL-2 Speculative
Grade Liquidity (SGL) Rating are unchanged. The outlook remains
stable.

Matador will use part of the proceeds from the notes issuance to
fund the 2023 notes tender offer and redeem any 2023 notes not
tendered. The remainder of the proceeds will be used for 2018
capital spending.

"The proposed notes issuance is a leverage neutral transaction as
we expect Matador to use part of the proceeds from the new notes
issuance to offset the company's potential draw under the revolver
to meet its 2018 capital outspend" commented Sreedhar Kona, Moody's
Senior Analyst. "Matador's equity issuance in May 2018 raised $227
million of proceeds, which mitigates the risk of excessive revolver
draws and weakening credit metrics."

Debt List:

Assignments

Issuer: Matador Resources Company

New issuance: $700 million of senior unsecured notes due 2026,
Assigned B2

Ratings Unchanged, to be withdrawn at redemption

Issuer: Matador Resources Company

Existing Facility: $575 million of senior unsecured notes due 2023,
rated B2

RATINGS RATIONALE

The B2 rating of Matador's $700 million of senior unsecured notes
due 2026, one notch below the B1 CFR, reflects their effective
subordination to the company's $400 million senior secured
revolving credit facility.

Matador's B1 CFR considers the company's growing production and
reserves, mainly contributed by substantial development in its
oil-weighted Delaware Basin acreage, significantly large and
repeatable drilling inventory and growth potential. The company
also benefits from fiscal discipline through commodity price cycles
and management's track record. The company's ratings are
constrained by its small scale and its need to outspend its cash
flow to continue on its growth trajectory. Matador's cost structure
improved through 2017, which combined with higher commodity prices
to generate a significant improvement in its capital efficiency.
Although the company will likely spend above its operating cash
flow, the associated production and reserves growth should cushion
any potential weakening of the metrics. Additionally, the company
has a demonstrated track record of equity issuance to offset
increased debt. Most of the company's capital spending is in the
Delaware Basin; however, its Eagle Ford and Haynesville acreage is
mostly held by production and provides a modest degree of
geographical diversity.

The stable outlook reflects Moody's expectation that Matador will
execute its Delaware Basin development plan while maintaining its
capital efficiency and favorable credit metrics.

Matador's ratings could be considered for an upgrade if the company
grows its size and scale with production approaching 70 MBOE per
day, while maintaining its RCF/debt ratio above 40% and LFCR above
1.5x. The company will also need to take meaningful steps to
achieve cash flow neutrality.

Matador's ratings could be downgraded if the company's RCF/debt
ratio falls below 20% or the debt/average daily production rises
above $20,000.

The principal methodology used in these ratings was Independent
Exploration and Production Industry published in May 2017.

Matador, publicly traded and headquartered in Dallas, Texas, is
engaged in the acquisition, exploration, development and production
of oil and natural gas with the majority of its activity in the
Delaware Basin. The company also operates in the Eagle Ford shale
play and the Haynesville shale and Cotton Valley plays.
Additionally, the company conducts midstream operations in support
of its production operations and provides natural gas processing,
oil transportation services, natural gas, oil and salt water
gathering services and salt water disposal services to third
parties.


MATADOR RESOURCES: S&P Assigns 'BB-' Rating on $700MM Unsec. Notes
------------------------------------------------------------------
S&P Global Ratings assigned its 'BB-' issue-level rating (one notch
above the issuer credit rating) and '2' recovery rating to
Dallas–based Matador Resources Co.'s proposed $700 million senior
unsecured notes due 2026. The '2' recovery rating indicates S&P's
expectation of substantial (70% to 90%; rounded estimate: 85%)
recovery in the event of a payment default. The company will use
the note net proceeds to help finance a cash tender for its
outstanding senior notes due 2023 and for other general working
capital needs.

S&P said, "Our 'B+' issuer credit rating on Matador reflects its
participation in the cyclical and capital-intensive oil and gas E&P
industry, relatively small proven reserve and production base, and
our expectation that it will outspend cash flows in the next two
years as it continues to develop its assets. These factors are
offset by asset concentration in the prolific, oil-rich Permian
Basin, above-average profitability forecast based on its high
proportion of oil in overall production, and moderate debt
leverage."



MICHAEL LEVITZ: Sale of Seattle Vacant Parcel for $600K Approved
----------------------------------------------------------------
Judge Christopher M. Alston of the U.S. Bankruptcy Court for the
Western District of Washington authorized Michael D. Levitz's sale
of a vacant parcel located at 305 Erie Avenue, Seattle, Washington,
King County tax parcel number 982920-0390, to Dean I. Yonev and
Ralitsa G. Mandeva and/or assigns for $600,000.

The Debtor is authorized and directed to consummate the sale
pursuant to and in accordance with the terms and conditions of the
purchase agreement, so long as the funds available from closing of
the sale in combination with the funds available from the refinance
are sufficient to pay Specialized Loan Servicing, LLC the entirety
of its asserted balance owed.

There will be paid from the sale proceeds of the Property at
closing the usual and necessary costs including escrow fees, title
fees, recording fees, excise tax, real estate taxes, and real
estate commissions of 6% (to be shared between selling and listing
agents).  The U.S. Trustee fee that is incurred as a result of the
sale and refinance, estimated to total $4,875, will also be paid
from escrow at closing.

The remaining net proceeds from sale of the Property after payment
of the costs set forth in paragraph 3 will be paid to Specialized
Loan Servicing from escrow at closing as a partial payment toward
the balance asserted to be owing on the first deed of trust on the
Property.

From the sale and/or refinance proceeds, $3,000 will be paid to the
second deed of trust holder, Ruth A. Moen of Leonard W. Moen &
Associates, Inc., as a full accord and satisfaction of her lien.

The sale of the Property will be free and clear of all liens and
encumbrances, other than easements of record; and except as
expressly permitted or otherwise specifically provided by the
attached purchase and sale agreement or the Order.

The Debtor is authorized to incur indebtedness to refinance the
remaining balance asserted owing by Specialized Loan Servicing.
Directly from escrow at closing of the refinance, the remaining
balance asserted owing by Specialized Loan Servicing may be paid.

The payment(s) to Specialized Loan Servicing described will be
subject to a reservation of rights.  Nothing in the order, nor the
payments themselves, will prohibit or prevent the Debtor from
pursuing his claims, as applicable, in the pending adversary case
18-0100.

The Order will be effective immediately upon entry, and any stay of
orders provided for in Bankruptcy Rules 6004(h), 6006(d), 7062 and
any other provision of the Bankruptcy Code or Bankruptcy Rules will
not apply and is expressly lifted, and the Order is immediately
effective and enforceable.

A copy of the Agreement attached to the Order is available for free
at:

       http://bankrupt.com/misc/Michael_Levitz_69_Order.pdf

Michael Dean Levitz sought Chapter 11 protection (Bankr. W.D. Wash.
Case No. 16-15200) on Nov. 30, 2017.  WELLS AND JARVIS, P.S., led
by name partner Jeffrey B. Wells, Esq., serves as counsel to the
Debtor.



MS DIAGNOSTIC: Trustee Taps Hahn Fife as Accountant
---------------------------------------------------
Elissa Miller, the Chapter 11 trustee for MS Diagnostic Laboratory
LLC, seeks approval from the U.S. Bankruptcy Court for the Central
District of California to hire Hahn Fife & Company LLP as her
accountant.

The firm will assist in the preparation and filing of the Debtor's
tax returns; prepare its monthly operating reports; review
financial documents; and provide other accounting services
requested by the trustee.

Donald Fife, a partner at Hahn Fife and the accountant who will be
providing the services, charges an hourly fee of $420.

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

Hahn Fife can be reached through:

     Donald T. Fife
     Hahn Fife & Company LLP
     22342 Avenida Empresa, Suite 260
     Rancho Santa Margarita, CA 92688
     Phone: (949) 888-1010
     Fax: (949) 766-9896
     Email: dhahn@hahnfife.com

                About MS Diagnostic Laboratory

MS Diagnostic Laboratory LLC sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. C.D. Cal. Case No. 18-15114) on May 2,
2018.  In the petition signed by Montano Geronimo, Jr., the Debtor
estimated assets of less than $50,000 and liabilities of less than
$1 million.

Judge Barry Russell presides over the case.  The Debtor tapped Lo &
Lo LLP as its legal counsel.

Elissa D. Miller was appointed Chapter 11 trustee for the Debtor.


N & B MANAGEMENT: Trustee Taps Francis Corbett as Special Counsel
-----------------------------------------------------------------
Jeffrey J. Sikirica, Chapter 7 Trustee of N & B Management Company,
LLC, seeks authority from the US Bankruptcy Court for the Western
District of Pennsylvania to retain Francis E. Corbett, Esq. as
special counsel to continue with the prosecution of the objections
to claims 8, 10 and 11.

Mr. Corbett as special counsel will not be paid any compensation
from the Debtor. Corbett has been advanced a total of $5,000.00 by
Mr. Yigal Buzaglo and Ms. Linda Gordon, brother and wife of Mr.
Golan Barak, member of the Debtor, for his future services.

Francis E. Corbett, Esq. attests that he is a "disinterested
person" in this proceeding within the meaning of 11 U.S.C.
Sec.101(14).

The counsel can be reached through:

     Francis E. Corbett, Esq.
     Mitchell Building, Suite 707
     304 Ross Street
     Pittsburgh, PA 15219
     Tel: (412) 456-1882
     Fax: (412) 652-9717
     Email: fcorbett@fcorbettlaw.com

                         About N & B Management Company

N & B Management Company, LLC, filed a Chapter 11 bankruptcy
petition (Bankr. W.D. Pa. Case No. 16-24728) on Dec. 23, 2016,
estimating less than $1 million in both assets and liabilities. The
Debtor is represented by Francis E. Corbett, Esq.

Jeffrey Sikirica was appointed Chapter 11 trustee in the Debtor's
case on May 15, 2018.


NAVEX TOPCO: S&P Assigns 'B-' Issuer Credit Rating, Outlook Stable
------------------------------------------------------------------
S&P Global Ratings assigned its 'B-' issuer credit rating to Lake
Oswego, Ore.-based NAVEX TopCo Inc. The outlook is stable.

S&P said, "At the same time, we assigned our 'B-' issue-level and
'3' recovery ratings to the company's $485 million first-lien
credit facilities, which consist of a $410 million first-lien term
loan due 2025 and a $75 million revolver (undrawn at close)
expiring 2023. The '3' recovery rating indicates our expectation
for meaningful (50%-70%; rounded estimate: 60%) recovery for
lenders in the event of payment default. We also assigned our 'CCC'
issue-level rating and '6' recovery rating to the company's $154
second-lien term loan due 2026. The '6' recovery rating indicates
our expectation for negligible (0%-10%; rounded estimate: 0%)
recovery prospects for lenders in the event of a payment default.

"At the same time, we lowered the issuer credit rating on holding
company NAVEX Acquisition LLC to 'B-' from 'B'. The outlook is
stable.

"The rating reflects the company's high leverage of more than 9x at
transaction close compared to leverage in the low-6x area, and our
expectation that leverage will remain over 8x through the end of
2019. The rating also reflects the company's limited scale, narrow
product focus on E&C applications, relatively low switching costs,
and intense competition in a highly fragmented market. NAVEX's high
retention rates, favorable industry growth prospects, solid
positioning in the niche global risk compliance industry, and
consistent positive free operating cash flow generation partially
offset these weaknesses.

"The stable outlook reflects our expectation that continued growth
in the E&C software market, increased penetration into the
company's existing customer base, and a high degree of recurring
revenue will enable NAVEX to continue to generate positive free
cash flow and reduce leverage below 9x over the next 12 months.

"We could lower the rating if an industry downturn, operational
challenges, or intensifying competitive pressures lead to customer
defections and margin erosion, such that the company generates
negative free cash flow on a sustained basis, liquidity becomes
constrained, or if we deem the capital structure unsustainable.

"Although unlikely over the next 12 months, over the longer term we
could consider an upgrade if NAVEX is able to consistently achieve
revenue and EBITDA growth through product cross-selling and new
customer growth, such that leverage is sustained below 7x while
maintaining FOCF as a percentage of debt above 5%."



NEIGHBORS LEGACY: Committee Taps Cole Schotz as Legal Counsel
-------------------------------------------------------------
The official committee of unsecured creditors of Neighbors Legacy
Holdings, Inc., seeks approval from the U.S. Bankruptcy Court for
the Southern District of Texas to hire Cole Schotz P.C. as its
legal counsel.

The firm will advise the committee regarding its duties under the
Bankruptcy Code; represent the committee in its consultations with
the Debtor; assist in any potential financing transaction or sale
of the Debtor's assets; and provide other legal services related to
the Debtor's Chapter 11 case.

The firm's hourly rates range from $410 to $920 for members, $260
to $475 for associates, and $195 to $300 for paralegals.

The attorneys and paralegals primarily responsible for representing
the committee and their standard hourly rates are:

     Michael Warner      Member        $785
     Warren Usatine      Member        $735
     Felice Yudkin       Member        $510
     Benjamin Wallen     Associate     $280
     Kerri LaBrada       Paralegal     $245

Given the Debtor's current financial position, Cole Schotz has
agreed to reduce the hourly rates for Messrs. Warner and Usatine to
$700 per hour.  

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

Cole Schotz can be reached through:

     Michael D. Warner, Esq.
     Cole Schotz P.C.  
     301 Commerce Street, Suite 1700
     Fort Worth, TX 76102
     Tel: 817-810-5265  
     Mobile: 817-832-5566
     Fax: 817-977-1611
     Email: mwarner@coleschotz.com

                About Neighbors Legacy Holdings

Neighbors Legacy Holdings -- http://www.neighborshealth.com/-- and
its subsidiaries currently operate 22 freestanding emergency
centers throughout the State of Texas, including in the greater
Houston area, South Texas, El Paso, the Golden Triangle, the
Panhandle, and the Permian Basin. The Emergency Centers are
designed to offer an attractive alternative to traditional hospital
emergency rooms by reducing wait times, providing better working
conditions for physicians and staff, and giving patient care the
highest possible priority. The Debtors were founded in Houston in
2008 by nine emergency room physicians.

EDMG, LLC, Neighbors Legacy Holdings and several affiliates sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D.
Tex. Lead Case No. 18-33836) on July 12, 2018.  In the petition
signed by Chad J. Shandler, its chief restructuring officer, the
Debtor disclosed less than $50,000 in assets and less than $50,000
in liabilities.  Shandler is with CohnReznick LLP.

Judge Marvin Isgur presides over the cases.  John F Higgins, IV,
Esq., at Porter Hedges LLP, serves as counsel to the Debtors.  They
hired Houlihan Lokey Capital, Inc., as investment bankers.

The Office of the U.S. Trustee appointed an official committee of
unsecured creditors on July 23, 2018.


NEOVASC INC: Incurs $49.1 Million Net Loss in Second Quarter
------------------------------------------------------------
Neovasc, Inc. reported financial results for the second quarter
ended June 30, 2018.

Revenues decreased 69% to $405,247 for the three months ended June
30, 2018, compared to revenues of $1,305,136 for the same period in
2017.  In December 2017, the Company closed its contract
manufacturing and consulting services business and is now focused
on the commercialization of its own product, the Reducer.

Sales of the Reducer for the three months ended June 30, 2018 were
$405,247 compared to $247,555 for the same period in 2017,
representing an increase of 64%.  The Company is encouraged by the
progress this year, but recognizes that future revenues may be
unstable before the Reducer becomes widely adopted.  The continued
success of the commercialization of the Reducer will be dependent
on the amount of internal resources allocated to the product,
obtaining appropriate reimbursement codes in various territories
and correctly managing the referrals process.

Cost of Goods Sold

The cost of goods sold for the three months ended June 30, 2018 was
$88,603 compared to $872,703 for the same period in 2017.  The
overall gross margin for the three months ended June 30, 2018 was
78%, compared to 33% gross margin for the same period in 2017.  The
gross margin now reflects the gross margin on the Reducer product
only, whereas the comparable period included contract manufacturing
and consulting services.

Expenses

Total expenses for the three months ended June 30, 2018 were
$6,320,257, compared to $6,728,381 for the same period in 2017,
representing a decrease of $408,126 or 6%.  The decrease in total
expenses for the three months ended June 30, 2018 compared to the
same period in 2017 can be substantially explained by a $39,755
reduction in general and administrative expenses due to
restructuring of the Company and a $392,526 decrease in product
development and clinical trial expenses to preserve cash
resources.

Selling expenses for the three months ended June 30, 2018 were
$248,538, compared to $224,382 for the same period in 2017,
representing an increase of $24,156, or 11%.  The increase in
selling expenses for the three months ended June 30, 2018 compared
to the same period in 2017 reflects an increase in costs incurred
for commercialization activities related to the Reducer.  The
Company continues to minimize its selling expenses as the cash
resources of the Company are still limited.

General and administrative expenses for the three months ended June
30, 2018 were $2,213,464, compared to $2,253,219 for the same
period in 2017, representing a decrease of $39,755 or 2%.  The
decrease in general and administrative expenses for the three
months ended June 30, 2018 compared to the same period in 2017 can
be substantially explained by a $485,667 decrease in litigation
expenses (as there are fewer ongoing litigation matters), a $66,022
decrease in share-based payments (as the option awards in 2018 were
lower in quantity and value than in 2017), a $189,523 decrease in
employee expenses due to a restructuring of the Company and offset
by a $680,180 increase in other expense, including a substantial
increase in legal expenses as we renewed the base shelf prospectus,
filed in XBRL for the first time and filed our annual report on the
more demanding Form 20-F, as compared to the Form 40-F filed in
2017.

Product development and clinical trial expenses for the three
months ended June 30, 2018 were $3,858,255 compared to $4,250,780
for the same period in 2017, representing a decrease of $392,525 or
9%.  The decrease in product development and clinical trial
expenses for the three months ended June 30, 2018 was the result of
a $118,696 decrease in share-based payments (as the option awards
in 2018 were lower in quantity and value than in 2017), a $82,779
decrease in other expenses, as the cash resources of the Company
are still limited and a $140,328 decrease in employee expenses due
to restructuring of the Company.

The Company's expenses are subject to inflation and cost increases.
The Company has not seen a material increase in the price of any
of the components used in the manufacture of its products and
services.

Other Loss

The other loss for the three months ended June 30, 2018 was
$43,071,579 compared to income of $1,012,926 for the same period in
2017, an increase in other loss of $44,084,505.  The increase in
the other loss can be substantially explained by the accounting
treatment of the 2017 Financings, which resulted in a $43,295,862
increase in net loss between the comparative periods.  In the three
months ended June 30, 2018, the Company recorded a $238,907 gain on
sale of the one remaining building that it owned but no longer
required for manufacturing purposes.

Losses

The operating losses and comprehensive losses for the three months
ended June 30, 2018 were $49,145,591 and $50,137,861 respectively,
or $0.04 basic and diluted loss per share, as compared with losses
of $5,341,308 and $6,097,512 or $0.07 basic and diluted loss per
share, for the same period in 2017.

The $44,084,505 increase in the comprehensive loss incurred for the
three months ended June 30, 2018 compared to the same period in
2017 can be substantially explained by the accounting treatment of
the 2017 Financings resulting in an unrealized gain on derivative
liability and convertible note of $602,817, a realized loss of
$26,457,106 on the exercise of warrants and $17,441,573
amortization of deferred loss. This was offset by a reduction in
operating loss of $292,335.

         Discussion of Liquidity and Capital Resources

Neovasc finances its operations and capital expenditures with cash
generated from operations and equity and debt financings.  As at
June 30, 2018 the Company had cash and cash equivalents of
$20,081,257 compared to cash and cash equivalents of $17,507,157 as
at Dec. 31, 2017.  The Company will require significant additional
financing in order to continue to operate its business.  Given the
current nature of the Company's capital structure, there can be no
assurance that such financing will be available on favorable terms,
or at all.

The Company is in a positive working capital position of
$15,897,146, with current assets of $22,514,842 and current
liabilities of $6,617,696.  However, of the current liabilities,
only $2,621,106 are cash liabilities, the liability for the
convertible notes and the derivative liability for the November
2017 underwritten public offering and the private placement are
accounting entries to account for the value of the instruments
issued in the 2017 Financings.  The Company will require additional
working capital in order to continue to operate its business and
there can be no assurance that such additional working capital will
be available on favorable terms, or at all.

Cash used in operating activities for the six months ended
June 30, 2018, was $11,358,955, compared to $10,201,519 for the
same period in 2017.  For the six months ended June 30, 2018,
operating expenses were $11,806,791, compared to $10,840,113 for
the same period in 2017, a decrease of $966,678 that can be
explained by decrease in product development and clinical trial
expenses to preserve cash resources.  Net cash provided from the
net change in non-cash working capital items for the six months
ended June 30, 2018 was $517,752, compared to a net cash outflow of
$689,663 in the same period in 2017.  The net cash inflow can be
attributed to a change in the balance sheet structure as the
Company closed its consulting services and contract manufacturing
businesses.

Net cash received from investing activities for the six months
ended June 30, 2018 was $846,468 compared to net cash applied to
investing activities of $580,525 for the same period in 2017,
primarily due to the receipt of proceeds from the sale of assets of
$865,610, and a $349,542 decrease in purchase of property, plant
and equipment, as there is still a requirement to preserve cash
resources in 2018.

"Over the last several months we have successfully executed on a
number of our clinical and operational goals, as we work our way
through what has been a challenging period for our shareholders. We
remain confident in our development activities for the
transfemoral, transseptal Tiara system, continued enrollment in our
Tiara clinical studies and in the commercial growth of the Reducer,
all of which provide opportunities to generate long-term
shareholder value," said Fred Colen, president and chief executive
officer of Neovasc.

"The Tiara continues to generate positive attention as a leading
option in transcatheter mitral valve replacement for patients
suffering from severe mitral regurgitation.  In June, a "live case"
featuring the Tiara was presented at the 11th Annual Transcatheter
Valve Therapy Conference.  In addition, we are developing
alternative implantation techniques for the Tiara in order to
combat competition from clipping repair procedures."

"The Reducer has had an exciting first six months of 2018, as we
have seen sales build momentum since it received NUB 1 status for
new therapies in Germany in January 2018.  We are on track for
Reducer implants to double in Europe and the Middle East, and
triple in Germany compared to 2017," concluded Mr. Colen.

The Tiara Mitral Valve

The Tiara mitral valve has demonstrated its potential in a total
patient population of 58 patients as a viable clinical treatment in
the early results of the Company's clinical trials, as well as in
compassionate use cases for patients with severe Mitral
Regurgitation and enlarged left ventricles and in patients at high
risk for surgery.  On June 21, 2018, the Company reported the Tiara
was featured in a "live case" at the 11th Annual Transcatheter
Valve Therapy Conference.  The successful live case was performed
by Dr. Anson Cheung, and Dr. John G. Webb of St. Paul's Hospital in
Vancouver, Canada, who successfully implanted a 40 mm Tiara
transcatheter mitral valve in a patient suffering from severe
mitral regurgitation.

Enrollment of patients in the European TIARA-II CE Mark clinical
study continues, albeit at a slower than expected rate.  In an
attempt to further increase patient enrollment the Company has
implemented an easy-to-use, local screening tool for physicians and
clinical sites increased the number of qualified proctoring
physicians, increased our field clinical engineering support in
Europe and most importantly added additional clinical investigation
sites.  The Company already qualified and added 4 new clinical
sites during July, therefore the Company currently has thirteen
active clinical sites: seven in Germany, four in Italy and two in
the UK.  The Company is currently planning on activating additional
clinical sites in September in Israel, Germany, the Netherlands and
Spain, as well as qualifying additional clinical sites to a maximum
of 20 sites overall.  As a result, the Company believes it will be
able to increase enrollment in the TIARA-II clinical study to
attempt to stay on our plan to submit the application for CE Mark
approval during late 2020.

Year-to-date, there have been 15 implants of Tiara, with 8 for
TIARA-II and 7 for the TIARA-I study.  The most recent six TIARA-II
implant procedure times were 10 minutes, 55 minutes, 9 minutes, 8
minutes, 9 minutes and 17 minutes respectively.  All six implants
were successful.

There have been 16 patients enrolled in the TIARA-II study out of
the total 115 required under the trial design. The 30-day survival
rate of the Tiara is at 90% overall and is at 94% for the TIARA-II
study.

The Reducer

The Company is encouraged by the ramping of market interest in the
Neovasc Reducer.  In May 2018, at the EuroPCR Conference in Paris,
the Reducer was showcased during a dedicated symposium hosted by
Dr. Stefan Verheye and Dr. Shmuel Banai.  The symposium included
presentations from physicians on their clinical experience with
Reducer, discussions about other potential indications for Reducer,
and a cost/benefit analysis of Reducer utilizations for healthcare
systems.  In June, the Company announced that the first U.S.
patient was implanted with a Reducer for the treatment of
refractory angina.  The Compassionate Use case was conducted by Dr.
Gerald Koenig, along with Dr. Ryan Gindi and colleagues, of the
Division of Cardiology at Henry Ford Hospital in Detroit,
Michigan.

The commercial progress for the Reducer in Europe and the Middle
East in the first half of 2018 was encouraging with a 47% increase
in revenue compared to the same time period of 2017.  More than 15
clinics in Germany have begun and completed the reimbursement
negotiations with the German health insurance companies and have
now established a satisfactory overall reimbursement amount
(including payment for the Reducer product at list price) for the
Reducer procedure, while others are either in the negotiation
process or will negotiate later this year, per pre-set negotiation
cycles.  While the Company only has a very small sales organization
in Europe, it is still planning on a doubling of Reducer implants
in Europe during 2018 over 2017, and an almost tripling of Reducer
implants in Germany.  One of the drivers behind this success is the
NUB 1 status for new therapies in Germany, which the Reducer
received at the end of January 2018.

The Company continues to enroll in the REDUCER-I clinical study and
is exploring all options for a U.S. market entry, including the
initiation of the Reducer IDE study, a 385-patient study to be
conducted at up to 35 centers in the United States, which was
approved by the FDA in late 2017.

                       Subsequent Events

Nasdaq Hearing

On July 16, 2018, the Company announced that The Nasdaq Stock
Market LLC has scheduled an oral hearing for Aug. 30, 2018, at
which the Nasdaq Hearings Panel will consider Neovasc's appeal of
the Nasdaq Listing Qualifications Staff decision to delist the
Neovasc's securities from the Nasdaq Capital Market for
non-compliance with the $1.00 minimum bid price requirement.  The
delisting action referenced in the Staff's determination letter,
dated July 6, 2018, has been stayed pending a final decision by the
Panel.  At the Hearing, the Company will seek an additional 180-day
extension for compliance with the $1.00 minimum bid price
requirement.  The Nasdaq Stock Market LLC has broad discretionary
public interest authority that it can exercise to apply additional
or more stringent criteria for the continued listing of the
Company's Common Shares, or suspend or delist securities.  The
Company believes that obtaining the advance approval of its
shareholders to effect a reverse stock split provides strong
support for its request for an additional 180-day extension;
however, the Company notes that shareholder approval of the reverse
stock split does not necessarily guarantee that the Panel will
grant it an extension to regain compliance.

Base Shelf Prospectus and Prospectus Supplement Filings

On July 12, 2018, the Company filed a final short form base shelf
prospectus with securities regulatory authorities in the provinces
of British Columbia, Alberta, Saskatchewan, Manitoba and Ontario,
and a corresponding shelf registration statement on Form F-10 with
the SEC under the U.S./Canada Multijurisdictional Disclosure
System, to replace its prior base shelf prospectus and related
registration statement, which expired on July 9, 2018.

On July 13, 2018, the Company filed a prospectus supplement with
the securities regulatory authorities in the Provinces and with the
SEC covering the issuance, from time to time, of units, warrants
and Common Shares of the Company underlying the outstanding
Warrants previously issued pursuant to the 2017 Public Transaction.
This "administrative" filing effectively moved the registration of
these underlying units, warrants and Common Shares from the
Company's prior registration statement, which expired on July 9,
2018, to the new Registration Statement.  It did not involve a new
financing.

Warrant exercises

None of the 25,676,368 Series A Warrants or 22,431,506 Series E
Warrants issued pursuant to the 2017 Financings have been exercised
and all those warrants remain outstanding.

As of Aug. 8, 2018, all of the 25,676,368 Series B Warrants
initially granted have been exercised using the cashless
alternative net number mechanism for 848,122,088 Common Shares and
all of the 22,431,506 Series F Warrants initially granted have been
exercised using the cashless alternate net number mechanism for
295,739,698 Common Shares.

As of Aug. 8, 2018, of the 10,273,972 Series C Warrants initially
granted, 8,951,780 have been exercised for 8,951,780 shares,
8,951,780 Series A Warrants and 8,951,780 Series B Warrants.  None
of the 8,951,780 underlying Series A Warrants have been exercised
and 8,951,780 of the 8,951,780 underlying Series B Warrants have
been exercised using the cashless alternate net number mechanism
for 462,121,620 Common Shares.

As of Aug. 8, 2018, cumulatively there were 34,628,148 Series A
Warrants, 1,322,192 Series C Warrants and 22,431,506 Series E
Warrants outstanding.  For a description of the risks associated
with the securities issued pursuant to the 2017 Financings, the
amount of such securities exercised to date, the dilution to date,
and the potential dilution in the future due to such exercises or
conversions, see the Company's Annual Report on the Form 20-F,
which is available on SEDAR at www.sedar.com and as file with or
furnished to, as applicable, the SEC at www.sec.gov.

Outstanding Share Data

As at Aug. 8, 2018, the Company had 1,896,512,271 Common Shares
issued and outstanding.  Further, the following securities are
convertible into Common Shares: 10,034.068 stock options with a
weighted average price of $2.10, 58,381,846 warrants and
$26,442,500 principal amount of Notes, which could convert into
18,311,802 Common Shares (not taking into account the alternate
conversion price mechanism).  The Company's fully diluted share
capital as of the same date is 1,985,702,781.  Its fully diluted
share capital, adjusted on the assumption that all the issuable
Series B Warrants are exercised using the cashless alternative net
number mechanism and the outstanding Notes are exercised using the
alternate conversion price at the closing price on Aug. 8, 2018 is
2,979,502,524.

A full-text copy of the Form 6-K is available for free at:

                     https://is.gd/bZBkKu

                      About Neovasc Inc.

Based in Richmond, British Columbia, Neovasc Inc. --
http://www.neovasc.com/-- is a specialty medical device company
that develops, manufactures and markets products for the rapidly
growing cardiovascular marketplace.  Its products include the
Neovasc Reducer, for the treatment of refractory angina, which is
not currently available in the United States and has been available
in Europe since 2015, and the Tiara, for the transcatheter
treatment of mitral valve disease, which is currently under
clinical investigation in the United States, Canada and Europe.

Neovasc reported a net loss of US$22.91 million on US$5.38 million
of revenue for the year ended Dec. 31, 2017, compared to a net loss
of US$86.49 million on US$9.51 million of revenue for the year
ended Dec. 31, 2016.

As of June 30, 2018, Neovasc had US$23.88 million in total assets,
US$28.04 million in total liabilities and a total deficit of
US$4.15 million.

Grant Thornton issued a "going concern" opinion in its report on
the consolidated financial statements for the year ended Dec. 31,
2017, stating that the Company incurred a consolidated net loss of
US$24.86 million during the year ended Dec. 31, 2017, and, as of
that date, the Company's consolidated current liabilities exceeded
its current assets by US$6.06 million.  The auditors said these
conditions, along with other matters, indicate the existence of a
material uncertainty that casts substantial doubt about the
Company's ability to continue as a going concern.


NEOVASC INC: Will Present at Annual Canaccord Conference on Aug. 9
------------------------------------------------------------------
Fred Colen, president and chief executive officer of Neovasc, Inc.,
is now scheduled to present at the 38th Annual Canaccord Genuity
Growth Conference on Thursday, August 9th at 12:30 p.m. ET being
held in Boston, Massachusetts.

A live audio webcast of the presentation will be available on the
Investors page of Neovasc's website at www.neovasc.com.

                       About Neovasc Inc.

Based in Richmond, British Columbia, Neovasc Inc. --
http://www.neovasc.com/-- is a specialty medical device company
that develops, manufactures and markets products for the rapidly
growing cardiovascular marketplace.  Its products include the
Neovasc Reducer, for the treatment of refractory angina, which is
not currently available in the United States and has been available
in Europe since 2015, and the Tiara, for the transcatheter
treatment of mitral valve disease, which is currently under
clinical investigation in the United States, Canada and Europe.

Neovasc reported a net loss of US$22.91 million on US$5.38 million
of revenue for the year ended Dec. 31, 2017, compared to a net loss
of US$86.49 million on US$9.51 million of revenue for the year
ended Dec. 31, 2016.  As of Dec. 31, 2017, the Company had US$22.20
million in total assets, US$58.66 million in total liabilities and
a total deficit of US$36.47 million.

Grant Thornton issued a "going concern" opinion in its report on
the consolidated financial statements for the year ended Dec. 31,
2017, stating that the Company incurred a consolidated net loss of
US$24.86 million during the year ended Dec. 31, 2017, and, as of
that date, the Company's consolidated current liabilities exceeded
its current assets by US$6.06 million.  The auditors said these
conditions, along with other matters, indicate the existence of a
material uncertainty that casts substantial doubt about the
Company's ability to continue as a going concern.


NOVAN INC: Incurs $7.57 Million Net Loss in Second Quarter
----------------------------------------------------------
Novan, Inc. has filed with the Securities and Exchange Commission
its Quarterly Report on Form 10-Q reporting a net loss and
comprehensive loss of $7.57 million on $649,000 of license and
collaboration revenue for the three months ended June 30, 2018,
compared to a net loss and comprehensive loss of $9.83 million on
$649,000 of license and collaboration revenue for the three months
ended June 30, 2017.

For the six months ended June 30, 2018, the Company reported a net
loss and comprehensive loss of $12.79 million on $1.29 million of
license and collaboration revenue compared to a net loss and
comprehensive loss of $21.22 million on $973,000 of license and
collaboration revenue for the same period a year ago.

As of June 30, 2018, Novan had $38.71 million in total assets,
$34.35 million in total liabilities and $4.35 million in total
stockholders' equity.

The Company said it has evaluated principal conditions and events
that may raise substantial doubt about its ability to continue as a
going concern within one year from the date that these financial
statements are issued.  The Company identified the following
conditions:

   * The Company has reported a net loss in all fiscal periods
     since inception and, as of June 30, 2018, the Company had an
     accumulated deficit of $172,449,000.

   * The Company's primary use of cash is to fund its operating
     expenses, which consist principally of research and
     development expenditures necessary to advance its product
     candidates.  The Company has evaluated its expected, probable
     future cash flow needs and has determined that it expects to
     incur substantial losses in the future as it conducts planned
     operating activities.  The Company expects that the amount of

     cash and cash equivalents on hand as of June 30, 2018 will be

     sufficient to meet its anticipated cash requirements into the

     late first quarter or early second quarter of 2019.

The Company has concluded that the prevailing conditions and
ongoing liquidity risks faced by the Company raise substantial
doubt about its ability to continue as a going concern.  To
mitigate these prevailing conditions and ongoing liquidity risks,
the Company needs and intends to raise additional capital from
non-dilutive sources, including partnerships, collaborations,
licensing, grants or other strategic relationships, or through
equity or debt financings.  

"There can be no assurance that the Company will be able to obtain
additional capital on terms acceptable to the Company, on a timely
basis or at all.  The failure of the Company to obtain sufficient
funds on acceptable terms when needed could cause the Company to
alter or reduce its planned operating activities, including but not
limited to delaying, reducing, terminating or eliminating planned
product candidate development activities, to conserve its cash and
cash equivalents.  Such actions could delay development timelines
and have a material adverse effect on the Company's results of
operations, financial condition and market valuation. Additionally,
there is no assurance that the Company can achieve its development
milestones or that its intellectual property rights will not be
challenged," the Company stated in the Quarterly Report.

A full-text copy of the Form 10-Q is available for free at:

                    https://is.gd/X642Tv

                      About Novan Inc.

Based in Morrisville, North Carolina, Novan Inc. --
http://www.novan.com/-- is a clinical-stage biotechnology company
focused on leveraging nitric oxide's natural antiviral and
immunomodulatory mechanisms of action to treat dermatological and
oncovirus-mediated diseases.  Nitric oxide plays a vital role in
the natural immune system response against microbial pathogens and
is a critical regulator of inflammation.  The Company's ability to
harness nitric oxide and its multiple mechanisms of action has
enabled it to create a platform with the potential to generate
differentiated product candidates.  The two key components of the
Company's nitric oxide platform are its proprietary Nitricil
technology, which drives the creation of new chemical entities, or
NCEs, and its topical formulation science, both of which the
Company uses to tune the Company's product candidates for specific
indications.

Novan incurred reporting a net loss and comprehensive loss of
$37.12 million in 2017 following a net loss and comprehensive loss
of $59.69 million in 2016.  As of March 31, 2018, Novan had $46.30
million in total assets, $34.92 million in total liabilities and
$11.37 million in total stockholders' equity.

The report from the Company's independent accounting firm
PricewaterhouseCoopers LLP on the consolidated financial statements
for the year ended Dec. 31, 2017, includes an explanatory paragraph
stating that the Company has suffered recurring losses from
operations, negative cash flow from operating activities, and has
an accumulated deficit that raise substantial doubt about its
ability to continue as a going concern.


OFFSHORE SPECIALTY: Panel to File Amended Plan Outline by Aug. 24
-----------------------------------------------------------------
Bankruptcy Judge Marvin Isgur approved the stipulation entered into
by Offshore Domestic Group, LLC, Offshore Express, LLC, Fairway
Exploration & Production, LLC, Fairway Energy Resources, LLC, and
Offshore Exploration and Production, LLC U.S. Specialty Insurance
Company and the Official Committee of Unsecured Creditors.

The stipulation states as follows:

1. The Committee will file its amended Disclosure Statement by 5:00
p.m. (CT) on August 24, 2018.

2. The Affiliates and U.S. Specialty will file any objections to
the amended Disclosure Statement by Noon (CT) on August 28, 2018.

3. The Court will hold an evidentiary hearing on the amended
Disclosure Statement at 9:00 a.m.  (CT) on Sept. 6, 2018.

4. The Court shall retain exclusive jurisdiction with respect to
all matters arising from or related to the implementation,
interpretation, and enforcement of this Stipulation.

              About Offshore Specialty Fabricators

Offshore Specialty Fabricators, LLC -- http://www.osf-llc.com/--
provides decommissioning project management utilizing its heavy
lift derrick barges for the installation and removal of oil and gas
facilities in the Gulf of Mexico.  Its facility is located at 115
Menard Rd. in Houma, Louisiana.

Offshore Specialty has been providing offshore construction
solutions to the international and domestic oil and gas industry
for more than 20 years.

Offshore Specialty sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. Tex. Case No. 17-35623) on Oct. 1,
2017.  In the petition signed by CEO Tammy Naron, the Debtor
estimated assets of $50 million to $100 million and estimated
liabilities of $10 million to $50 million.

The Debtor hired Diamond McCarthy LLP as counsel, and Koch &
Schmidt Law Firm, as special counsel.

Judge Marvin Isgur presides over the case.

On Oct. 25, 2017, the Office of the U.S. Trustee appointed an
official committee of unsecured creditors.


OSBORN TAVERN: Taps Cote Law Offices as Litigation Counsel
----------------------------------------------------------
Osborn Tavern LLC seeks approval from the U.S. Bankruptcy Court for
the District of Massachusetts to hire Cote Law Offices as
litigation counsel.

The firm will represent the Debtor in a lawsuit filed against the
landlord and owner of a property in Danvers, Massachusetts.  The
case is pending in Essex Superior Court.

James Cote, Esq., the attorney at Osborn Tavern LLC who will handle
the case, will be paid a contingent fee of 33 1/3% of any
recovery.

Mr. Cote disclosed in a court filing that he and other members of
the firm are "disinterested" as defined in section 101(14) of the
Bankruptcy Code.

The firm can be reached through:

     James M. Cote, Esq.
     Cote Law Offices
     246 Andover Street, Route 114
     Peabody, MA 01960
     Phone: 978-278-5850
     Email: jcote@cotelaw.com

                     About Osborn Tavern LLC

Osborn Tavern LLC sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Mass. Case No. 18-12448) on June 27,
2018.  In the petition signed by Joel Hartnett, manager, the Debtor
disclosed that it had estimated assets of less than $50,000 and
liabilities of less than $1 million.  The Debtor tapped Shapiro &
Hender as its legal counsel.


OVERSEAS SHIPHOLDING: Dist. Court Dismisses Suit vs Teichman, T&T
-----------------------------------------------------------------
Chief District Judge Lee H. Rosenthal granted the Defendants' Rule
12(B)(1) motion to dismiss the case captioned LIGHTERING LLC, STARR
INDEMNITY & LIABILITY COMPANY, and AGCS MARINE INSURANCE COMPANY,
Plaintiffs, v. TEICHMAN GROUP, LLC, and T&T OFFSHORE, INC.,
Defendants, Civil Action No. H-17-3374 (S.D. Tex.) for lack of
matter subject jurisdiction.

The case is a contractual-indemnity dispute arising out of
underlying wrongful-death and personal injury lawsuits filed after
a crane accident in September 2017. The underlying plaintiffs sued
the Teichman Group, LLC, T&T Offshore, Inc., and OSG Lightering,
LLC, seeking damages for the deaths and injuries. OSG Lightering,
Starr Indemnity & Liability Company, and AGCS Marine Insurance
Company sued Teichman and T&T seeking a declaratory judgment that
there is no contractual obligation to defend, indemnify, or provide
additional insurance coverage to Teichman or T&T for the underlying
wrongful-death and personal injury lawsuit. OSG Lightering, Starr,
and AGCS invoke the court's admiralty and maritime jurisdiction
under 28 U.S.C. section 1333. T&T moved to dismiss under Rule
12(b)(1), arguing that admiralty jurisdiction is improper and the
court lacks subject matter jurisdiction.

The Master Services Agreement that governed the contractual
relationship between T&T and OSG Lightering included
indemnification provisions. OSG Lightering refused T&T's demands on
the ground that the Agreement had expired in December 2014, before
the accident occurred, and that there was no contractual obligation
to indemnify or defend. T&T maintains that OSG Lightering's
continued performance under the terms of the Agreement constituted
an implied renewal. T&T alleges that it was forced to defend and
settle all of the claims stemming from the accident, and it now
seeks full indemnity from OSG Lightering. In response, OSG
Lightering and its insurers brought this suit, seeking a
declaratory judgment that the Agreement does not govern OSG
Lightering's relationship with T&T and that neither it nor its
insurers has a contractual obligation to defend, indemnify, or
provide added insurance to T&T.

T&T moves to dismiss on the ground that the Agreement is not a
maritime contract and that the court lacks subject matter
jurisdiction. T&T relies on In re Larry Doiron, Inc., and Norfolk
Southern Railway Co. v. Kirby to argue that the court must look at
the principal objective of the contract--what goods or services the
parties agreed to provide each other; what they were actually
provided; and whether either party agreed to provide a vessel or
perform substantial work from a vessel--to determine whether the
contract at issue is a maritime contract. T&T characterizes the
Agreement as one for "a mix of property and services," including a
lease of real property and provisions for labor and equipment, and
that any maritime services, such as the loading or unloading of OSG
Lightering's chartered workboats, were incidental to the core
purpose of the Agreement.

OSG Lightering responds that the Agreement is fundamentally a
maritime contract. OSG Lightering argues that T&T relies on the
incorrect legal standard to argue that performing substantial work
from a vessel is required for the Agreement to be a maritime
contract. OSG Lightering distinguishes Doiron, arguing that it was
limited to maritime contracts involving oil and gas exploration,
drilling, and production, which this Agreement does not. The proper
test, OSG Lightering argues, comes from Kirby, and requires a
holistic evaluation of the nature and character of the Agreement,
looking at whether its principal objective is maritime commerce.

Both parties characterized the Agreement as a lease of property,
not as a contract with a principal objective of maritime commerce.
The portion of the Agreement that involved a vessel was not
substantial. The maritime portion of the Agreement--the loading and
unloading of vessels--had an attenuated connection to maritime
commerce. T&T loaded and unloaded equipment that itself was not
bound for maritime commerce, but that was used by OSG Lightering,
as part of a separate contract with a third-party, to facilitate
maritime commerce through its lightering operations. This is not
the "direct and substantial link between the contract and the
operation of the ship, its navigation, or its management afloat,
taking into account the needs of the shipping industry," required
to transform a maritime activity into maritime commerce. The court
concludes that the Agreement did not have a principal objective of
maritime commerce.

Because the Agreement is non-maritime in nature and character, the
court lacks admiralty and maritime jurisdiction under 28 U.S.C.
section 1333. The case is dismissed for lack of subject matter
jurisdiction.

A full-text copy of the Memorandum Opinion dated July 16, 2018 is
available at https://bit.ly/2vPGb4w from Leagle.com.

Lightering LLC, Plaintiff, represented by David Gregory Meyer --
dmeyer@blankrome.com --  Blank Rome LLP & Michael K. Bell --
mbell@blankrome.com --Blank Rome LLP.

Starr Indemnity & Liability Company & AGCS Marine Insurance
Company, Plaintiffs, represented by Harold K. Watson --
watson@chaffe.com -- Chaffe McCall, L.L.P., Lisa Marie Kaufmann  --
kaufmmann@chaffe.com -- Chaffe McCall, L.L.P. & Michael K. Bell,
Blank Rome LLP.

XL Specialty Insurance Company, Plaintiff, represented by Harold K.
Watson, Chaffe McCall, L.L.P. & Lisa Marie Kaufmann, Chaffe McCall,
L.L.P.

T&T Offshore, Inc. & Teichman Group, LLC, Defendants, represented
by Mark Ryan Trachtenberg -- mark.trachtenberg@haynesboone.com --
Haynes and Boone, LLP, Robert Prentice Vining, Schouest, Bamdas,
Soshea & BenMaier & Susan D. Noe Wilson, Schouest, Bamdas, Soshea &
BeMaier, PLLC.

                 About Overseas Shipholding

Overseas Shipholding Group, Inc. (OTC: OSGIQ), headquartered in New
York is one of the largest publicly traded tanker companies in the
world, engaged primarily in the ocean transportation of crude oil
and petroleum products.  OSG owns or operates 111 vessels that
transport oil and petroleum products throughout the world.

Overseas Shipholding Group and 180 affiliates filed voluntary
Chapter 11 petitions (Bankr. D. Del. Lead Case No. 12-20000) on
Nov. 14, 2012, disclosing $4.15 billion in assets and $2.67 billion
in liabilities.  Greylock Partners LLC Chief Executive John Ray
serves as chief reorganization officer.  James L. Bromley, Esq.,
and Luke A. Barefoot, Esq., at Cleary Gottlieb Steen & Hamilton LLP
serve as OSG's Chapter 11 counsel.  Derek C. Abbott, Esq., Daniel
B. Butz, Esq., and William M. Alleman, Jr., at Morris, Nichols,
Arsht & Tunnell LLP, serve as local counsel.

Chilmark Partners LLC serves as financial adviser.  Kurtzman Carson
Consultants LLC is the claims and notice agent.

The Export-Import Bank of China, owed $312 million used for the
construction of five tankers, is represented by Louis R. Strubeck,
Jr., Esq., and Kristian W. Gluck, Esq., at Fulbright & Jaworski LLP
in Dallas; David L. Barrack, Esq., and Beret Flom, Esq., at
Fulbright & Jaworski in New York; and John Knight, Esq., and
Christopher Samis, Esq., at Richards Layton & Finger PA.  Chilmark
Partners, LLC serves as financial and restructuring advisor.

Akin Gump Strauss Hauer & Feld LLP, and Pepper Hamilton LLP, serve
as co-counsel to the official committee of unsecured creditors.
FTI Consulting, Inc., is the financial advisor and Houlihan Lokey
Capital, Inc., is the investment banker.

U.S. Bank National Association is the successor administrative
agent under the $1.5 billion credit agreement, dated as of February
9, 2006 by and among (a) OSG, OSG Bulk Ships, Inc., and OSG
International, Inc., as joint and several borrowers, (b) the
Administrative Agent and (c) various lenders party thereto.
Counsel to the Administrative Agent are Milbank, Tweed, Hadley &
McCloy LLP; Holland & Knight LLP; and Drinker Biddle & Reath LLP.
Lazard Freres & Co. LLC serves as advisor to the Administrative
Agent.

An official committee of Equity Security Holders has been appointed
in the case.  It is represented by Brown Rudnick LLP's Steven D.
Pohl, Esq., James W. Stoll, Esq. and Jesse N. Garfinkle, Esq.; Fox
Rothschild LLP's Jeffrey M. Schlerf, Esq., John H. Strock, Esq. and
L. John Bird, Esq.

Judge Walsh signed on July 18, 2014, a findings of fact,
conclusions of law, and order confirming the First Amended Joint
Plan of Reorganization of OSG and its debtor-affiliates.

A blacklined version of the Plan dated July 17, 2014, is available
at http://bankrupt.com/misc/OSGplan0716.pdf      

A full-text copy of Judge Walsh's Confirmation Order is available
at http://bankrupt.com/misc/OSGplanord0718.pdf     

                          *     *     *

The Troubled Company Reporter, on Aug. 14, 2014, reported that
Moody's Investors Service assigned Caa1 ratings to the unsecured
notes of Overseas Shipholding Group, Inc. ("OSG") that are being
reinstated pursuant to its plan of reorganization which becomes
effective.  Moody's also affirmed the B2 Corporate Family Rating
and all of the other debt ratings it assigned to OSG on June 12,
2014, in anticipation of the conclusion of the Chapter 11
reorganization.  The rating outlook is stable.

The TCR, on Aug. 19, 2014, also reported that Standard & Poor's
Ratings Services assigned its 'B' corporate credit rating to
Overseas Shipholding Group Inc. (OSG).  The outlook is stable.


PACIFIC DRILLING: Restructuring Transactions Disclosed in Exit Plan
-------------------------------------------------------------------
Pacific Drilling S.A. and its affiliates filed a disclosure
statement for its joint plan of reorganization dated July 31,
2018.

The Debtors and the Ad Hoc Group have engaged in extensive
negotiations regarding the terms of the Plan, and expect to enter
into a Plan Support Agreement memorializing the terms of the
proposed restructuring of the Debtors. In addition, pursuant to the
Plan Support Agreement, the parties will agree, subject to the
terms and conditions, to support the Plan and the Restructuring.

The Plan and the Restructuring provide for the comprehensive
restructuring and recapitalization of the Debtors through the
following principal transactions:

   (a) $700 million issuance of notes maturing five years following
their issuance, secured by a first-priority security interest in
and Lien on certain of the Reorganized Debtors' assets;

   (b) $300 million issuance of notes maturing seven years after
their issuance, with interest payable in kind or in cash, subject
to certain limitations, at the option of the issuer, secured by a
second-priority security interest and lien on certain of the
Reorganized Debtors' assets;

   (c) $400 million equity rights offering that will provide
Holders of Allowed Term Loan B Claims, 2017 Notes Claims, and 2020
Notes Claims with subscription rights to purchase up to 51.2% of
the New Common Shares outstanding on the Effective Date, in each
case based on such Holders' Pro Rata shares, at a price that
represents an implied 46.9% discount to a stipulated plan equity
value of $1,472 million, subject to dilution by the new equity
issued pursuant to the management incentive plan to be entered into
by Reorganized PDSA, as approved by the New Board of Reorganized
PDSA on or after the Effective Date;

   (d) $100 million private placement to the members of the Ad Hoc
Group that will obligate the members of the Ad Hoc Group to
purchase 12.8% of the aggregate number of New Common Shares
outstanding on the Effective Date, subject to dilution by the new
equity issued pursuant to the Management Incentive Plan; and

   (e) issuance of 30.9% in the aggregate of the New Common Shares
outstanding on the Effective Date to the Holders of the Allowed
Term Loan B Claims, the Holders of the 2020 Notes Claims, and the
Holders of the 2017 Notes Claims, in each case based on such
Holders' Pro Rata shares, subject to dilution by the new equity
issued pursuant to the Management Incentive Plan.
  
The Plan Support Parties hold, in aggregate, approximately (i)
73.48% in amount
of the Term Loan B Claims, (ii) 88.04% of the 2017 Notes Claims,
and (iii) 74.89% of the 2020 Notes Claims. The Plan Support Parties
have agreed on a methodology to allocate the distribution of New
Common Shares, rights with respect to the Private Placement, and
Rights Offering Subscription Rights among the Holders of the Term
Loan B Claims, the 2017 Notes Claims, and the 2020 Notes Claims, to
reflect their relative collateral values. The Holders of the Term
Loan B Claims, the 2017 Notes Claims, and the 2020 Notes Claims are
the only Impaired Classes, and the Debtors have thus secured a
commitment from over 75% in amount of Holders of such Claims to
support the Plan. The Plan Support Parties are in contact with
several additional Holders of Term Loan B Claims, 2020 Notes
Claims, and or/2017 Notes Claims, and expect to increase the amount
of Plan Support Parties to over 80% in amount of Holders of such
Claims in the coming days. The Plan also renders all other Holders
of the SSCF Claims, the RCF Claims, and General Unsecured Claims
Unimpaired by providing for the repayment of such Claims in full in
Cash.

After the consummation of each of the restructuring transactions,
the Debtors expect to have approximately $450 million of cash on
their balance sheet that will allow the Debtors to emerge from
bankruptcy as reorganized enterprises and that will provide them
with a balance sheet and capital structure that is sufficient to
enable the Reorganized Debtors' cash flows from operations to
support their businesses, even though a potentially prolonged
period of recovery in the offshore drilling market. The Debtors
believe the Plan is in the best interest of the Debtors, their
estates, and creditors as a whole.

A full-text copy of the Disclosure Statement is available at:

       http://bankrupt.com/misc/nysb17-13193-451.pdf

                  About Pacific Drilling

Pacific Drilling S.A. (OTC: PACDQ) a Luxembourg public limited
liability company (societe anonyme), operates an international
offshore drilling business that specializes in ultra-deepwater and
complex well construction services.  Pacific Drilling --
http://www.pacificdrilling.com/-- owns seven high-specification
floating rigs: the Pacific Bora, the Pacific Mistral, the Pacific
Scirocco, the Pacific Santa Ana, the Pacific Khamsin, the Pacific
Sharav and the Pacific Meltem.  All drillships are of the latest
generations, delivered between 2010 and 2014, with a combined
historical acquisition cost exceeding $5.0 billion.  The average
useful life of a drillship exceeds 25 years.

On Nov. 12, 2017, Pacific Drilling S.A. and 21 affiliates each
filed a voluntary petition for relief under Chapter 11 of the
United States Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No.
17-13193).  The cases are pending before the Honorable Michael E.
Wiles and are jointly administered.

Pacific Drilling disclosed $5.46 billion in assets and $3.18
billion in liabilities as of Sept. 30, 2017.

The Debtors tapped Sullivan & Cromwell LLP as bankruptcy counsel
but was later replaced by Togut, Segal & Segal LLP; Evercore
Partners International LLP as investment banker; AlixPartners, LLP,
as restructuring advisor; Alvarez & Marsal Taxand, LLC as executive
compensation and benefits consultant; Ince & Co LLP and Jones
Walker LLP as special counsel; and Prime Clerk LLC as claims and
noticing agent.

The RCF Agent tapped Shearman & Sterling LLP, as counsel, and PJT
Partners LP, as financial advisor.

The ad hoc group of RCF Lenders engaged White & Case LLP, as
counsel.

The SSCF Agent tapped Milbank Tweed, Hadley & McCloy LLP, as
counsel, and Moelis & Company LLC, as financial advisor.

The Ad Hoc Group of Various Holders of the Ship Group C Debt, 2020
Notes and Term Loan B tapped Paul, Weiss, Rifkind, Wharton &
Garrison, in New York as counsel.


PENSKE AUTOMOTIVE: Moody's Hikes CFR to Ba1, Outlook Stable
-----------------------------------------------------------
Moody's Investors Service upgraded ratings of Penske Automotive
Group, Inc., including the Corporate Family Rating, which was
upgraded to Ba1 from Ba2. In addition, the Company's Speculative
Grade Liquidity Rating was affirmed at SGL-2. The outlook is
stable.

"T[he] upgrade recognizes the continuing improvement in Penske's
credit profile, which is due to myriad factors, including
improvements in the core auto dealer segment, particularly on the
used front, the completion of the acquisition of General Electric's
remaining stake in Penske Truck Leasing, and the performance of
other smaller, ancillary businesses operating under the Penske
umbrella," stated Moody's Vice President Charlie O'Shea. "This
diversity is unique in the rated auto retail universe, and provides
the company with meaningful insulation from headwinds that may
occur at any particular time to any particular segment," continued
O'Shea.

Affirmations:

Issuer: Penske Automotive Group, Inc.

Speculative Grade Liquidity Rating, Affirmed SGL-2

Upgrades:

Issuer: Penske Automotive Group, Inc.

Probability of Default Rating, Upgraded to Ba1-PD from Ba2-PD

Corporate Family Rating, Upgraded to Ba1 from Ba2

Senior Subordinated Regular Bond/Debentures, Upgraded to Ba3 (LGD6)
from B1 (LGD5)

Outlook Actions:

Issuer: Penske Automotive Group, Inc.

Outlook, Remains Stable

RATINGS RATIONALE

The Ba1 rating reflects Penske's position as the world's largest
auto dealer by revenue, with balance between its US and
International divisions, its diverse business model outside of the
auto retail business, the positive impact of the increased
ownership of Penske Truck Leasing, and opportunities for future
prudent growth across its numerous platforms. Ratings also consider
Penske's financial policy, which has become more balanced in recent
years, particularly where shareholder distributions are concerned,
and its good liquidity. The stable outlook considers Penske's
fairly predictable operating performance, with the ability to
"flex" its operations to deal with potential flux in any one
segment. Ratings could be upgraded if operating performance
continues to improve and financial policy remains balanced such
that debt/EBITDA is maintained below 3.5 times with EBIT/interest
sustained above 5 times while maintaining at least good liquidity.
In addition, Penske would need to demonstrate a commitment to
policies consistent with an investment grade rating. Ratings could
be downgraded if liquidity were to weaken, or if due to either
operating performance weakening or financial policy turning more
aggressive, debt/EBITDA rose above 4.75 times or if EBIT/interest
was sustained below 3.5 times.

Headquartered in Bloomfield Hills, MI, Penske Automotive Group is a
leading global retailer of automobiles and light trucks, with
annual revenues of over $22 billion. It is 58% owned by Penske
Corporation and Mitsui, with Roger S. Penske, Sr., the Chairman and
Chief Executive Officer of Penske Automotive Group, a principal
owner of Penske Corporation.

The principal methodology used in these ratings was Retail Industry
published in May 2018.


PNEUMA INTERNATIONAL: Creditors Oppose Amended Plan, Disclosures
----------------------------------------------------------------
Creditors Bruce Chalmers, Yong Kwon Cho and Central United
Packaging, Inc., filed an objection to Pneuma International, Inc.'s
amended chapter 11 plan and amended disclosure statement dated July
16, 2018.

Creditors objected to the prior disclosure statement and each of
those objections is reiterated and incorporated in this filing.

The creditors complain that  Docket #118 and the Debtor's books and
records are still replete with omissions, misstatements, and
contradictions that both themselves and in the context of the case
they obscure the information necessary for creditors to be enable
to make informed judgments about the plan. The information provided
is inconsistent and/or nonsensical and/or dubious and/or fails to
address prior issues raised. Additionally, there are unexplained
revisions to the information provided previously which raise
questions as to veracity.

On p. 8-14, Section III.C., Debtor lists the treatment of claims.
Debtor lists secured creditors C1, C2 and C3, but there is only one
secured claim in this case (C1). C2 and C3 are listed as “secured
by personal guarantee” which is not real security and in any
event is valueless as the personal guarantor (Mr. Chang) has filed
a Chapter 13 bankruptcy petition.

There is also an inconsistency throughout Docket #118 concerning
the financial condition of the Debtor immediately prior to filing
the petition. On p. 3, the Debtor states that it operated at a loss
in 2017 due to expenditures on attorney’s fees; on. p.4 it states
that Debtor was current on all of its obligations, save the
Judgment.

On p. 5, section F is simply nonsensical. Creditors never asserted
a secured claim against Debtor herein. In fact, it was Debtor who
first listed Credit Chalmers as secured before amending the
schedules. Debtor's statement that "$483,347.62 may be realized
from the recovery of fraudulent, preferential or other avoidable
transfers," is totally incomprehensible considering that the only
action was a stipulation that Creditors' claims are unsecured (and
the amount stated does not even amount to the total of their
claims).

Creditors request that the case be dismissed in the best interests
of the creditors.

A full-text copy of the Creditors' Objection is available at:

      http://bankrupt.com/misc/canb17-42149-121.pdf

Attorneys for Creditors Bruce Chalmers, Yong Kwon Cho, and Central
United Packaging, Inc.:

     James G. Schwartz, Esq.
     Joshua D. Brysk, Esq.
     Law Offices of James G. Schwartz
     A Professional Corporation
     7901 Stoneridge Drive, Suite 401
     Pleasanton, CA 94588
     Telephone: (925) 463-1073
     Facsimile: (925) 463-2937
     Email: jim@jgschwartz.com
            josh@jgschwartz.com

                  About Pneuma International

Pneuma International, Inc., doing business as EGPAK, is a
manufacturer of coated and laminated packaging paper based in
Hayward, California.  EGPAK filed a Chapter 11 petition (Bankr.
N.D. Cal. Case No. 17-42149) on Aug. 25, 2017.  In the petition
signed by Mikahel Chang, principal, the Debtor estimated $100,000
to $500,000 in assets and $1 million to $10 million in liabilities.
Judge Roger L. Efremsky is the case judge.  Nancy Weng, Esq., at
Tsao-Wu & Yee, LLP, is the Debtor's counsel.


PROMIA INCORPORATED: Case Summary & 14 Unsecured Creditors
----------------------------------------------------------
Debtor: Promia Incorporated
        802 Chamberlain Court
        Mill Valley, CA 94941

Business Description: Established in 1991, Promia Incorporated --
                      http://www.promia.com-- is in the business
                      of providing solutions that are designed to
                      support highly secure, reliable, scalable
                      and interoperable business applications.
                      PROMIA's open-standard solutions comply with
                      the newest emerging security regulations and
                      specifications, providing high levels of
                      information security assurance.  Promia
                      serves the energy and power industries,
                      military, government and financial
                      institutions.

Chapter 11 Petition Date: August 8, 2018

Court: United States Bankruptcy Court
       Northern District of California (San Francisco)

Case No.: 18-30874

Judge: Hon. Hannah L. Blumenstiel

Debtor's Counsel: Robert L. Goldstein, Esq.
                  LAW OFFICES OF ROBERT L. GOLDSTEIN
                  100 Bush St. #501
                  San Francisco, CA 94104
                  Tel: (415) 391-8710
                  E-mail: rgoldstein@taxexit.com
                         info@taxexit.com

Estimated Assets: $50,000 to $100,000

Estimated Liabilities: $10 million to $50 million

The petition was signed by Amy Reynolds, CFO.

A full-text copy of the petition containing, among other items, a
list of the Debtor's 14 unsecured creditors is available for free
at:

              http://bankrupt.com/misc/canb18-30874.pdf


QUOTIENT LIMITED: CEO & Chairman Subscribe 55,000 Ordinary Shares
-----------------------------------------------------------------
Quotient Limited has entered into two subscription agreements: (i)
the first, by and between the Company and Franz Walt, the Company's
chief executive officer, pursuant to which Mr. Walt subscribed for,
and the Company agreed to issue, 45,000 ordinary shares at a price
of $7.54 per share (which was equal to the closing bid price of the
Company's ordinary shares as reported on the Nasdaq Global Market
on Aug. 2, 2018) for aggregate proceeds of $339,300 and (ii) the
second, by and between the Company and Heino von Prondzynski, the
chairman of the Company's board of directors, pursuant to which Mr.
von Prondzynski subscribed for, and the Company agreed to issue,
10,000 ordinary shares at the Subscription Price for aggregate
proceeds of $75,400.

The Subscription Agreements contain customary representations,
warranties and indemnification obligations of the parties.  The
ordinary shares subscribed for were delivered to Mr. Walt and Mr.
von Prondzynski on Aug. 8, 2018.

The Subscription Shares were sold in reliance upon the exemption
from registration provided by Section 4(a)(2) of the Securities Act
of 1933, as amended.  Each of Mr. Walt and Mr. von Prondzynski
represented in his Subscription Agreement that he was an accredited
investor as defined in Regulation D and that he was acquiring the
Subscription Shares with no present intention of distributing any
of such shares or any arrangement or understanding with any other
persons regarding the distribution of such Shares, and appropriate
legends were affixed to the Subscription Shares.

On Aug. 2, 2018, the Board, subject to the condition that the
Company's shareholders approve an amendment during 2018 to the 2014
Stock Incentive Plan to increase the number of ordinary shares
authorized for issuance thereunder, determined to grant Mr. Walt,
as soon as reasonably practicable after satisfaction of the
Condition: (a) 45,000 restricted share units (equal in value to
approximately $339,300, based on the closing bid price of the
Company's ordinary shares on The NASDAQ Global Market on Aug. 2,
2018 of $7.54 per share) and (b) options to purchase 70,000
ordinary shares at an exercise price of $7.54 per share (based on
the closing bid price of the Company's ordinary shares on The
NASDAQ Global Market on Aug. 2, 2018).  The remuneration committee
of the Board subsequently approved and ratified the foregoing
grants.

The RSUs will vest in 12 equal monthly installments beginning on
the first monthly anniversary of Aug. 2, 2018.  The options will
vest in two equal annual installments beginning on the first
anniversary of Aug. 2, 2018.

If Mr. Walt's employment is terminated by the Company without
"cause" (as defined in Mr. Walt's employment agreement, dated
May 24, 2018), Mr. Walt's RSUs and options will vest and, in the
case of options, become exercisable, in accordance with their
terms.  The RSUs and options will also fully vest and, in the case
of options, become exercisable, in accordance with their terms,
upon a change in control.

                     About Quotient Limited

Penicuik, United Kingdom-based Quotient Limited is a
commercial-stage diagnostics company committed to reducing
healthcare costs and improving patient care through the provision
of innovative tests within established markets.  With an initial
focus on blood grouping and serological disease screening, Quotient
is developing its proprietary MosaiQTM technology platform to offer
a breadth of tests that is unmatched by existing commercially
available transfusion diagnostic instrument platforms.  The
Company's operations are based in Edinburgh, Scotland; Eysins,
Switzerland and Newtown, Pennsylvania.

As of June 30, 2018, Quotient Limited had $130.86 million in total
assets, $167.04 million in total liabilities and a total
shareholders' deficit of $36.17 million.

Quotient reported a net loss of $82.33 million for the year ended
March 31, 2018, compared to a net loss of $85.06 million for the
year ended March 31, 2017.

The report from the Company's independent accounting firm Ernst &
Young LLP, in Belfast, United Kingdom, the Company's auditor since
2007, on the consolidated financial statements for the year ended
March 31, 2018, includes an explanatory paragraph stating that the
Company has recurring losses from operations and planned
expenditure exceeding available funding, and has stated that
substantial doubt exists about the Company's ability to continue as
a going concern.


R. HASSELL HOLDING: Employment of Ritchie Bros. as Auctioneers OK'd
-------------------------------------------------------------------
Judge Marvin Isgur of U.S. Bankruptcy Court for the Southern
District of Texas authorized R. Hassell Holding Co.  Inc.'s
employment of Ritchie Bros. Auctioneers (America), Inc., as
auctioneer of its equipment pursuant to their Auction Agreement.

The Debtor's Equipment will be sold to the purchasers free and
clear of liens, claims and encumbrances.

The liens or interests of Texas Capital Bank, NA are transferred to
the proceeds of sale of the Debtor's Equipment in the same priority
as such liens or interests existed on the Debtor's Equipment as of
the date the Chapter 11 was filed on June 30, 2018.

From the proceeds of sale of the Equipment the reimbursable costs
and commissions payable to the Auctioneer pursuant to the Auction
Agreement will be paid to the Auctioneer, and the amount remaining
after such payments will remain with the Auctioneer subject to
further order of the Court.

The Debtor will obtain insurance for the Equipment in the amounts
set forth on Exhibit A and that TCB will be named the loss payee
for such insurance.

TCB does not waive any of its rights or remedies through the
granting of the relief sought in the Debtor's Application.

A copy of the list of Equipment to be sold attached to the Order is
available for free at:

       http://bankrupt.com/misc/R_Hassell_31_Order.pdf

               About R. Hassell Holding Company

R. Hassell Holding Company, Inc., is a construction company based
in Houston, Texas.  R. Hassell Holding Co. filed a Chapter 11
Petition (Bankr. S.D. Tex. Case No. 18-33541) on June 29, 2018.  In
the petition signed by Royce J. Hassell, president, the Debtor
estimated $1 million to $10 million in assets and liabilities.  The
case is assigned to Judge Marvin Isgur.  Leonard H. Simon, Esq., at
PENDERGRAFT & SIMON, serves as the Debtor's counsel.



RBW SD: Plan Proposes to Pay Unsecured Creditors 84% of Claims
--------------------------------------------------------------
RBW SD, Inc. filed a disclosure statement in support of its chapter
11 plan dated August 2, 2018.

Under the plan, the Reorganized Debtor will continue to exist and
conduct business, including the operation of the Debtor's sales,
marketing, manufacturing and distribution business with all its
related activities. The Debtor shall use the net proceeds of its
business operations to fund this Plan. The Debtor believes the
income from these sources will be enough to pay all secured claims
in accordance with their agreements with the Debtor, pay all
priority claims in full and to pay approximately 84% of all claims
within the general unsecured class.

The Debtor will also continue with its efforts to locate financing
sources in order support its growth and inventory needs as well as
to also pay all creditors in full. Any such sale of assets or
refinancing will be the subject of a separate motion before the
Bankruptcy Court and will be noticed to all creditors to provide an
opportunity to review the terms of any such transaction and
determine whether or not those terms are sufficiently favorable for
the Debtor and all creditors.

Along with these ongoing efforts, the Debtor and Reorganized Debtor
will continue its efforts to reinvigorate the Debtor's main
operations and will look to be prepared to take advantage of the
licensing of products that it manufactures.

The Debtor has the facility, the ability, the manpower and the
knowledge to quickly expand its workforce and its operations to
meet increased demand. The Debtor is poised to take advantage of
any situation that will create any such increase in sales demand.

A full-text copy of the Disclosure Statement is available at:

      http://bankrupt.com/misc/casb17-06906-11.pdf

                     About RBW SD Inc.

Headquartered in San Diego, California, RBW SD, Inc. --
http://rbwsecurity.com-- provides security services for a variety
of clientele including residential gated communities, medical
centers, construction sites and retail shopping centers throughout
California and Arizona.

RBW SD, Inc., filed for Chapter 11 bankruptcy protection (Bankr.
S.D. Calif. Case No. 17-06906) on Nov. 14, 2017.  In the petition
signed by Hughford Muhammad, president, the Debtor disclosed total
assets of $138,402 and total liabilities of $1.58 million.  

Judge Christopher B. Latham presides over the case.

Andrew H. Griffin, III, Esq., at the Law Offices of Andrew H.
Griffin, III, serves as the Debtor's bankruptcy counsel.


RECORDED BOOKS: S&P Assigns 'B-' ICR, Outlook Stable
----------------------------------------------------
S&P Global Ratings assigned its 'B-' issuer credit rating to New
York City-based Recorded Books Holdings Inc. The outlook is
stable.

S&P said, "At the same time, we assigned our 'B-' issue level
rating and '3' recovery rating to the company's $335 million senior
secured first-lien term loan and $30 million senior secured
first-lien revolver credit facility. The '3' recovery rating
indicates our expectation for meaningful recovery (50%-70%; rounded
estimate: 65%) of principal in the event of a payment default.

"Our issuer credit rating on RBmedia reflects the company's
significant client concentration, limited geographic
diversification, and small revenue base, somewhat offset by its
contracted revenue profile and meaningful recurring subscription
revenue.

"The stable outlook reflects our expectation that RBmedia's
adjusted leverage will remain elevated above 6.0x, and FOCF to debt
will remain nominal but will gradually improve to the low- to
mid-single-digit percentage as one-time costs associated with its
acquisition roll off over the next 12 months. We also expect that
the company will maintain adequate liquidity and its contracted
revenue base will support revenue growth and adjusted EBITDA
margins in the 30% to 32% range.

"We could lower our ratings on RBmedia if we believe its capital
structure is unsustainable or if the company faces meaningful
liquidity challenges. This could occur if it is unable to retain
its top authors likely due to increased competition from other
audiobook publishers or if it faces a significant loss of
subscribers at Audiobooks.com to other audiobook platforms.

"We could raise our rating if the company can demonstrate sustained
revenue growth and increased revenue diversification across
third-party platforms and sustained growth at Audiobooks.com. In
addition, we would also raise the rating if the company is able to
maintain FOCF to debt above 5% on a sustained basis and we observe
evidence of a less aggressive financial policy."



RONNIE WHITEFIELD: $48K Sale of 2009 Sea Ray Sundeck Boat Approved
------------------------------------------------------------------
Judge Marian F. Harrison of the U.S. Bankruptcy Court for the
Middle District of Tennessee authorized Ronnie C. Whitefield's sale
of 2009 Sea Ray Sundeck Boat to John Allen for $47,500,

The sale is free and clear of the interests of any lien holder.
Said lien will attach to the proceeds of the sale.

All net proceeds of the sale, after payment of the lien, will be
put into the DIP account and used for reorganization.

Ronnie C. Whitefield, Jr., sought Chapter 11 protection (Bankr.
M.D. Tenn. Case No. 18-02883) on April 27, 2018.  The Debtor tapped
Christopher Mark Kerney, Esq., at Kerney Law Office, as counsel.


ROSS ELITE: $1.1M Sale of Redwood Property to Santana Approved
--------------------------------------------------------------
Judge M. Elaine Hammond of the U.S. Bankruptcy Court for the
Northern District of California authorized Ross Elite Realty Group,
LLC's sale of the real property located at 1402 Arguello Court,
Redwood City, San Mateo County, California to Adam Santana for $1.1
million.

A hearing on the Motion was held on July 27, 2018a at 2:00 p.m.

The gross proceeds of sale, $1.1 million, will be paid to and
disbursed by an escrow established at Chicago Title Co.  After
payment of the normal and customary closing costs, which will not
include payment of any real estate commission on behalf of the
Seller, and the payment of the following costs relating to the sale
of the Real Property -- $1,000 to Panacea Home Staging, Inc. and
$2,500 to Oak Wood Designs, LLC, the proceeds of sale will be
applied to pay in full the demand of Capital WRCOF Asset Trust
2017-1, to pay in full the demand of Mandoser 1402 Arguello Street
Trust or its assigns in the amount of $102,403, to pay in full the
demand of Igor Dralyuk in the amount of $170,000, and to pay in
full the demand, if any, of the San Mateo County Tax Collector's
Office for real estate taxes.  No disbursement and payment will be
paid to Da Chen, Inc. and the real property will be sold free and
clear of any lien of Da Chen, Inc.

Any proceeds remaining after payment of the demands and costs
authorized by the Court and described in paragraph 2 will be paid
on behalf of the Debtor's seller to Charles B. Greene, the Debtor's
counsel, and placed into and held in Mr. Greene's attorney/client
trust account.  Such funds will not be disbursed by Mr. Greene
until further order of the Court upon noticed hearing.

The Court hereby waives the 14-day stay on sales provided under
Rule 6004(h) of the Federal Rules of Bankruptcy Procedure.

                 About Ross Elite Realty Group

Ross Elite Realty Group, LLC, is a real estate company
headquartered in San Jose, California.  It is the fee simple owner
of a single-family residence located at 11 S. Circle Dr. Santa
Cruz, California, valued by the company at $1.10 million, and a
single-family residence located at 1402 Arguello St. Redwood City,
California, valued by the company at $1.15 million.

Ross Elite Realty Group sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Cal. Case No. 18-50774) on April 6,
2018.  In the petition signed by Zachary Ross, managing member, the
Debtor disclosed $2.25 million in assets and $1.96 million in
liabilities.  Judge M. Elaine Hammond presides over the case.
Charles B. Greene, Esq., in San Jose, California, serves as counsel
to the Debtor.


RWRF INC: $60K Sale of Promissory Notes to Perlmutter Approved
--------------------------------------------------------------
Judge John K. Sherwood of the U.S. Bankruptcy Court for the
District of New Jersey authorized RWRF, Inc., and affiliates to
sell two Promissory Notes to Eric Perlmutter for an aggregate
purchase price of $60,000.

A hearing on the Motion was held on July 31, 2018 at 10:00 a.m.
(ET).

The sale is free and clear of liens, claims, and encumbrances.

For the avoidance of doubt, the notice provided by the Debtors of
the Motion is deemed sufficient under the circumstances and, to the
extent applicable, the requirements of Bankruptcy Rule 2002 are
waived.

The Order will be effective immediately upon entry, notwithstanding
anything to the contrary in the Bankruptcy Rules or Local Rules.
For the avoidance of doubt, the 14-day stay imposed by Bankruptcy
Rule 6004(h) is waived.

The bankruptcy case is In re RWRF, Inc. Bankr. D.N.J. Case No.
17-32958.


SEAWORLD PARKS: S&P Alters Outlook to Stable & Affirms 'B' ICR
--------------------------------------------------------------
S&P Global Ratings revised its rating outlook on Orlando,
Fla.-based SeaWorld Parks & Entertainment Inc. to stable from
negative. At the same time, S&P affirmed its 'B' issuer credit
rating and all other ratings on SeaWorld.

S&P said, "The outlook revision reflects our belief that the
company is no longer at risk of a thinning covenant cushion over
the near term given improved operating performance. We raised our
EBITDA forecast through 2019 because of our assumption that
attendance at the company's SeaWorld San Diego and Orlando parks
has rebounded as a result of improved communication initiatives and
increased reputational advertising spending, specifically its Park
to Planet marketing campaign, as well as our assumption of an
improvement in international visitation to the Orlando park. Just
as the company attributed its 2017 attendance declines to a
reduction in its reputational advertising spending, we believe the
company's 2018 marketing campaign led to its 8% first-half
attendance growth and that attendance could continue to increase in
the second half. For 2018, we anticipate mid-single-digit
percentage revenue and mid- to high-teens percentage lease-adjusted
EBITDA growth. As a result, we forecast lease-adjusted debt to
EBITDA improving to around 5x, which is our leverage threshold for
the current rating, by the end of this year.

"The stable outlook reflects our belief that SeaWorld has a
plausible path toward improving operating performance, and we
forecast this year the company could report its first full year of
revenue growth since 2013. As a result, we believe SeaWorld can
improve our measure of lease-adjusted debt to EBITDA to around our
5x threshold for the current rating in 2018.

"We could lower ratings if the company significantly underperforms
our forecast, resulting in leverage sustained above 7x or EBITDA
interest coverage falling below 2x. We could also lower ratings if
we believe negative publicity could hurt revenues at
SeaWorld-branded parks.

"We could revise the outlook to positive if the company reports
revenue and EBITDA growth in the seasonally strong third quarter,
demonstrating continued success with the Park to Planet marketing
program. An upgrade would require EBITDA to continue to improve, so
that total lease-adjusted debt to EBITDA is sustained comfortably
below 5x."



SECOND PHOENIX: Brown Meadow to Get No Distribution Under New Plan
------------------------------------------------------------------
Second Phoenix Holding LLC and affiliates filed with the U.S.
Bankruptcy Court for the Southern District of New York its first
amended disclosure statement describing their first amended joint
plan of reorganization dated July 31, 2018.

The Plan provides for the substantive consolidation of Debtors'
cases. On or after the Effective Date, (a) all assets and
liabilities of the Debtors shall be treated as if they were merged,
(b) no Distributions will be made under the Plan on account of any
Claim held by one of the Debtors against any of the others, (c) all
cross-company guaranties will be extinguished so that any guaranty
obligation will be deemed one obligation of the Reorganized Debtor,
and (d) each and every claim filed or to be filed against either
the Debtors will be deemed filed against the Debtors  and will be
one claim against and obligation of the Reorganized Debtor.

Brown Meadow will receive no distributions on account of its
Allowed Class 4 Claim, if any, regarding the rejection/termination
of the Brown Meadow Lease as its Allowed Claim, if any, will be
offset against the Claim Debtors have against Brown Meadow under
that lease agreement by and between SP and Brown Meadow dated March
14, 2016.

Funding for the Plan will be from the proceeds realized from the
sale of East 125th Street and Second Avenue or the Refinancing.

A full-text copy of the First Amended Disclosure Statement is
available at:

     http://bankrupt.com/misc/nysb18-10009-108.pdf

                About Second Phoenix Holding

Second Phoenix Holding LLC, Harlem Phoenix Realty Corp., and Kshel
Realty Corp. are privately held companies that are engaged in
activities related to real estate.  Second Phoenix is the fee
simple owner of a real property located at 212 East 125th Street,
New York, NY 10035 214-216 East 125th Street, New York, NY 10035 14
Second Avenue, New York, NY 10003 with an appraised value of $21.90
million.  Harlem holds 47.58% of the equity of Second Phoenix and
Kshel holds the other 52.42%.  Evan Blum is the sole shareholder of
Harlem and Kshel and is the managing member of Second Phoenix.

Based in New York, New York, Second Phoenix Holding LLC filed a
Chapter 11 petition (Bankr. S.D.N.Y. Case No. 18-10009) on Jan. 3,
2018.  In the petition signed by Evan Blum, sole managing member,
the Debtor disclosed $21.92 million in total assets and $12.91
million in liabilities.  The Debtor is represented by Marc Stuart
Goldberg, Esq., at Marc Stuart Goldberg, LLC, as counsel.


SECOND PHOENIX: Selling New York Properties for $17 Million
-----------------------------------------------------------
Second Phoenix Holding, LLC, and its affiliates ask the U.S.
Bankruptcy Court for the Southern District of New York to authorize
their bidding procedures in connection with the sale of their real
properties located at (i) 212, 214 and 216 East 125th Street, New
York, New York to 212 East 125th Street, LLC for $10 million; and
(i) 14 2nd Avenue, New York, New York to Station Companies DV, LLC
for $7 million ("Property"), subject to overbid.

In late 2017, SKW East VH, LLC, the Debtors' senior secured lender
that, in 2017, held a secured claim of close to $13 million secured
by mortgages on the Debtors' Property, commenced a UCC Article 9
foreclosure of the membership interests owned by Harlem Phoenix
Realty Corp. and Kshel Realty Corp. -- collectively owing 100% of
Second Phoenix Holding, LLC ("SP"), the title holder of the
Property.

By motion dated March 16, 2018, SKW moved for an order: (1)
modifying the automatic stay to permit SKW to exercise its rights
with respect to the properties, or, alternatively, (ii) dismissing
the chapter 11 case, or, alternatively, (iii) designating the
Debtor a single asset real estate entity under section 101(51b) and
362(d)(3) of the Bankruptcy Code; and (iv) granting such other
relief as the court deems is necessary and proper ("Lift Stay
Motion").

On May 2, 2018, the Court approved a Settlement Agreement among the
Debtors and SKW which affords the Debtors, whose estates are
administratively insolvent but "property rich" a reasonable
timeframe within which to satisfy SKW's secured claim -- and raise
cash for distributions to creditors and equity security holders of
the Debtors.

Significant aspects of the Settlement Agreement are:

     (a) On or prior to July 31, 2018, Debtors will either:

          (i) have filed with the Court a non-cancelable contract
for sale for one or both Properties with a downpayment of at least
10%, no financing or any contingencies other than an order of the
Court approving the sale free and clear of liens, claims and
encumbrances, to a bona fide independent third party unaffiliated
with the Debtors, providing for a purchase price in amount(s)
sufficient to pay Lender (and all closing costs including the
Debtors' counsel, United States Trustee fees and Avison Young) in
full, in cash, at closing of such transaction(s) and a time of
essence closing date of Oct. 15, 2018; and/or

          (ii) have obtained a loan commitment not conditioned on
underwriting or appraisals in an amount sufficient to pay the
Lender (and all closing costs including the Debtors' counsel,
United States Trustee fees and Avison Young) in full at closing of
such transaction(s) from a reputable third party lender
unaffiliated with Debtors by no later than Oct. 15, 2018; and/or

          (iii) have filed a motion under section 363 of the
Bankruptcy Code for approval of an auction sale process providing
for (a) minimum purchase price(s) in amount sufficient to pay
Lender (and all closing costs including the Debtors' counsel,
United States Trustee fees and Avison Young) in full at closing of
the contemplated sale or refinance transaction(s) and (b) Lender's
right to credit bid at amounts up to and including all sums due
Lender.  In the event Lender is the successful bidder at such an
auction sale, then within 10 days following the deeding of a
Property and/or the Properties to Lender following same, these
chapter 11 cases will be dismissed and the obligations of the
lender to certain third parties as set forth therein will equally
apply.

     (b) If the Debtors determine to proceed with a 363 auction
process, the following deadlines and requirements will apply:

          (i) the Debtors will provide a copy of any 363 sale
motion to Lender prior to filing and by no later than July 20, 2018
for review, comment and approval;

          (ii) the terms of the sale provide for an auction to
occur on Sept. 15, 2018 with minimum upset prices for each of the
Properties of $6 million for Second Avenue and $8 million for 125th
Street, but in no event, not less than the amounts necessary to pay
Lender (and all closing costs including the Debtors' counsel,
United States Trustee fees and Avison Young) in full at closing,
and
no less than a 10% deposit and execution of an unconditional
Contract of Sale for one or both Properties (no financing or any
contingencies other than an order of the Court approving the sale
free and clear of liens, claims and encumbrances) that provides for
a time of essence closing date of Oct. 15, 2018 and which contract
of sale is in a form acceptable to Lender;

          (iii) any hearing to consider a 363 sale motion or
approve auction bidding procedures will be heard, subject to the
Court's availability, by no later than Aug. 31, 2018; and

          (iv) any sale approval of an auction to occur on or
before 20 days following the actual date or Sept. 20, 2018,
whichever date is later.

     (c) The closing of any sale/ refinance transaction(s) must
occur by no later than Oct. 15, 2018.

The Debtors have aggressively marketed the Property for sale.
These efforts have resulted in two contracts of sale; one between
SP and the Stalking Horse 125 Bidder for 125th Street, and one
between SP and the Stalking Horse 2 Bidder for 2nd Avenue.  The
Stalking Horse 125 provides the Stalking Horse 125 Bidder's
commitment in the amount of $10 million.  The Stalking Horse 2
provides the Stalking Horse 2 Bidder's commitment in the amount of
$7 million.

As part of the Stalking Horse 125 Agreement and the Stalking Horse
2 Agreement, Stalking Horse 125 Bidder and Stalking Horse 2 Bidder
have agreed to subject their Stalking Horse Bids to a competitive
bidding process set forth in the proposed Bidding Procedures.  The
Stalking Horse 125 Agreement and the Stalking Horse 2 Agreement
therefore set a floor for the sale of the Property, which will
benefit all of the Debtors' stakeholders by ensuring the highest or
otherwise best offer for the Property.

In exchange for the benefits provided by the Stalking Horse 125
Agreement and the Stalking Horse 2 Agreement, the Debtors also ask
the authority to pay the Stalking Horse 125 Bidder, in the event
the Successful Bidder of 125th Street is not the Stalking Horse 125
Bidder, a break-up fee in the amount of $300,000, and to pay the
Stalking Horse 2 Bidder, in the event the Successful Bidder of 2nd
Avenue is not the Stalking Horse 2 Bidder, a break-up fee in the
amount of $210,000.

Among other things, the closing on the sales of East 125th Street
and 2nd Avenue are to occur no later than Oct. 15, 2018.
Additionally, at the conclusion of the Sale Hearing, the Debtors
also ask entry of orders approving the sale of East 125th Street
and 2nd Avenue, respectively, free and clear of all liens, claims,
interests, and encumbrances of the Property.

The Debtors now ask to effectuate the Sale promptly to the Stalking
Horse 125 Bidder and the Stalking Horse 2 Bidder, subject to
competitive bids and Court approval.  By reason of the time
constraints of the Settlement Agreement and the Debtors' hope that
a next highest bidder can be contractually obligated to close if
the highest and best bidder fails to close, the Debtors
respectfully submit that cause exists to shorten the notice period
requirements provided by Bankruptcy Rule 2002(a) as contemplated by
Bankruptcy Rule 9006(c)(1).

It is contemplated that the Sale of the Property, which is situated
in the County of New York, State of New York, will be free of
recording/stamp taxes under section 1146(a) of the Bankruptcy
Code.

The Debtors respectfully ask that the Court approves the following
proposed timeline for the sale process:

     a. Bid Deadline, Sept. 13, 2018, as the last date by which
potential bidders may deliver the bid documents required to
participate in the Auction pursuant to the Bidding Procedures;

     b. Sale Objection Deadline, Sept. 17, 2018, as the deadline to
object to the entry of an order by the Court approving the Sale;

     c. Auction, Sept. 21, 2018, if one is needed, which will be
held at the offices of Avison Young, 1166 Avenue of the Americas,
15th Floor, New York, New York 10036;

     d. Sale Hearing, .

The salient terms of the Bidding Procedures are:

     a. Bid Deadline: Sept. 13, 2018 at at 4:00 p.m. (ET)

     b. Minimum Bid: The value  of each Bid must exceed the
aggregate sum of (a) the Stalking Horse Bid, (b) the Bid
Protections, and (c) the minimum Bid increment of $25,000 (all of
which must be in the form of cash or cash equivalents and/or the
assumption of administrative expense liabilities).

     c. Deposit: Each Bid (other than the Stalking Horse Bid, with
respect to which the deposit requirements will be governed by the
Stalking Horse 125 Agreement and the Stalking Horse 2 Agreement)
must be accompanied by a cash deposit equal to 10% of the Purchase
Price attributable to the purchase of East 125th Street and/or 2nd
Avenue, which will be held in a non-interest bearing escrow account
to be identified in the Stalking Horse 125 Agreement and/or the
Stalking Horse 2 Agreement.

     d. Auction: The Debtors will conduct the Auction with respect
to the Property. The Auction will commence on Sept. 20, 2018, at
10:00 a.m. (ET), at the offices of at the offices of Avison Young,
1166 Avenue of the Americas, 15th Floor, New York, New York 10036,
or such later time or other place as the Debtors will timely notify
the Stalking Horse 125 Bidder, the Stalking Horse 2 Bidder and all
other Qualified Bidders.

     e. Bid Increments: $25,000

     f. Bid Protections:

     g. Sale Hearing: Sept. 21, 2018 at 10:00 a.m.

     h. Sale Objection Deadline, Sept. 17, 2018

     i. The Property sold pursuant to these Bidding Procedures will
be conveyed at the Closing in their then-present condition, "as is,
with all faults, and without any warranty whatsoever, express or
implied" other than as set forth in the Stalking Horse 125
Agreement, the Stalking Horse 2 Agreement.

A copy of the Agreements and the Bidding Procedures attached to the
Motion is available for free at:

    http://bankrupt.com/misc/Second_Phoenix_105_Sales.pdf

Within three business days after the entry of the Bidding
Procedures Order, or as soon as reasonably practicable thereafter,
the Debtors will serve the Sale Notice upon all Notice parties.

To maximize the value received for the Property, the Debtors ask to
close the Sale as soon as possible after the Sale Hearing.  Among
other things, this will allow Debtors to repay obligations to SKW,
thus eliminating incremental interest expense that would arise
during the 14-day stay period.  Accordingly, they ask that the
Court waives the 14-day stay period under Bankruptcy Rules
6004(h).

212 East can be reached at:

     212 EAST 125TH STREET, LLC
     One Penn Plaza, Suite 3900
     New York, NY 10119
     E-mail: Sjambunathan@certespartners.com
             MichaelHakimian@hakimian.com

212 East is represented by:

     Ronald J. Friedman, Esq.
     SILVERMAN ACAPORA LLP
     100 Jericho Quadrangle, Suite 300
     Jericho, NY 11753
     E-mail: rfriedman@sallp.com

Station Cos. can be reached at:

     Dan Vislocky
     STATION COS. DV, LLC
     150 Greenwich St., 29th Floor
     New York, NY 10007

Station Cos. is represented by:

     Boris Tschanz, Esq.
     SYLVOR, RICHMAN & SORIN, LLP
     99 Madison Ave., Suite 510
     New York, NY 10016
     E-mail: bsorin@sylvor.com

                  About Second Phoenix Holding

Second Phoenix Holding LLC, Harlem Phoenix Realty Corp., and Kshel
Realty Corp. are privately held companies that are engaged in
activities related to real estate. Second Phoenix is the fee simple
owner of a real property located at 212 East 125th Street, New
York, NY 10035 214-216 East 125th Street, New York, NY 10035 14
Second Avenue, New York, NY 10003 with an appraised value of $21.90
million.  Harlem holds 47.58% of the equity of Second Phoenix and
Kshel holds the other 52.42%.  Evan Blum is the sole shareholder of
Harlem and Kshel and is the managing member of Second Phoenix.  

Based in New York, Second Phoenix Holding LLC filed a Chapter 11
petition (Bankr. S.D.N.Y. Case No. 18-10009) on Jan. 3, 2018.  In
the petition signed by Evan Blum, sole managing member, the Debtor
disclosed $21.92 million in total assets and $12.91 million in
liabilities.  The Debtor is represented by Marc Stuart Goldberg,
Esq., at Marc Stuart Goldberg, LLC, as counsel.


SENIOR COMMUNITY: $3.9M Private Sale of Long Beach Property Granted
-------------------------------------------------------------------
Judge Maureen A. Tighe of the U.S. Bankruptcy Court for the Central
District of California authorized Senior Community Housing Long
Beach, LLC's private sale of the real property located in Los
Angeles County at 3655 Elm Ave., Long Beach, California, APN
7145-007-052, to JDMDI Construction, Inc. for $3,929,796, subject
to overbid.

A hearing on the Motion was held on July 18, 2018 at 10:00 a.m.

The sale of the Property is "as is, where-is with all faults and
without warranty, representation, or recourse whatsoever," and free
and clear of all interests.

The Debtor is authorized to instruct escrow to pay all property
taxes through the date of closing and any other expenses necessary
to close escrow.  It is authorized to sign all documents necessary
to consummate the sale and close escrow, including, but not limited
to, the PSA, grant deed, and escrow instructions.

If the escrow does not close on Aug. 9, 2018, then the Debtor
and/or Estate is free to sell the Property to another buyer free
and clear of all liens of Jay De Miranda.  There will be a
continued hearing on Aug. 10, 2018 at 10:00 a.m., for the Court to
receive additional offers and to approve a sale to another Buyer.

The Court will entertain and approve any sale that is in the best
interest of the Estate, and pursuant to Mr. De Miranda's
stipulation on the record at the July 18, 2018 hearing, it will be
free and clear of all his liens.

The Debtor will prepare and file with the court a notice under FRBP
6004-(f)(1).

The 14-day stay regarding the effectiveness of the order is
waived.

                   About Senior Community
                     Housing Long Beach

Senior Community Housing Long Beach, LLC, based in Winnetka,
California, filed a Chapter 11 petition (Bankr. C.D. Cal. Case No.
17-12260) on Aug. 24, 2017.  In the petition signed by Dean R.
Isaacson, president of the Debtor's managing partner, the Debtor
disclosed $1.65 million in total assets and $6.66 million in total
liabilities.

Judge Maureen Tighe presides over the case.

Michael R. Totaro, Esq., at Totaro & Shanahan, is the Debtor's
bankruptcy counsel while Mihel Law is the special litigation
counsel.  Agredano Lozano and Associates is the Debtor's
consultant.

On Oct. 18, 2017, the Office of the U.S. Trustee appointed an
official committee of unsecured creditors.  The Committee retained
Marshack Hays LLP as its legal counsel.


SHAHRIAR ZARGAR: B. Shadsirat's 2nd Suit Remanded to State Court
----------------------------------------------------------------
Bankruptcy Judge Robert Kwan granted Plaintiff Behrouz Shadsirat's
motion to remand the removed civil action captioned BEHROUZ
SHADSIRAT, Plaintiff, v. JOSEPH ZARGAR, Defendant, Adv. No.
2:18-ap-01149-RK (Bankr. C.D. Cal.) back to the Superior Court of
California.

On Nov. 28, 2012, Plaintiff initiated a civil action in the
Superior Court of California for the County of Los Angeles, Civil
Division, asserting causes of action for involuntary dissolution,
breach of fiduciary duty, interference with economic relationship,
conversion, violation of California Corporations Code Section 1602,
accounting and declaratory relief against Defendants Shahriar
Joseph Zargar, National Cash, Inc., Mohammad Khajehmiraki, Shabnam
Mesachi, Payment Alliance International, LLC, Elite Bankcard
Solutions, LLC, and Bank of America, N.A.,which is not the subject
of this adversary proceeding.

On March 29, 2017, Plaintiff filed a second civil action in the
Superior Court of California for the County of Los Angeles, Civil
Division against Defendant Joseph Zargar for civil liability under
Nevada Revised Statutes section 225.84. Plaintiff's complaint in
the Downtown Los Angeles State Court Action alleges that Debtor
Joseph Zargar filed a document with the Nevada Secretary of State
containing false statements in bad faith for the purpose of
harassing Plaintiff and defrauding others, which may result in
civil penalties and/or punitive damages. According to the case
docket sheet for the Downtown Los Angeles State Court Action,
discovery is pending, and the Superior Court has upon Plaintiff's
motion imposed discovery-related sanctions against Debtor Joseph
Zargar. The Superior Court's case docket also reflects that the
trial in the Downtown Los Angeles State Court Action was set for
Sept. 4, 2018.

On May 14, 2018, Debtors commenced the adversary proceeding by
filing a Notice of Removal of State Court Action, which removed the
Downtown Los Angeles State Court Action to this court. On May 18,
2018, Plaintiff filed a Demand for Jury Trial and Statement of
Non-Consent.

In filing the motion to remand, Plaintiff requests that the court
remand the Downtown Los Angeles State Court Action to the Superior
Court of California. Plaintiff argues that the Debtors' removal
appears to be nothing more than a bad faith attempt to delay
adjudication in state court. Accordingly, Plaintiff contends that
equity and fairness dictate that the court remand the Downtown Los
Angeles State Court Action.

In the judicial district, bankruptcy courts may consider up to
fourteen factors in deciding whether to remand an action to the
non-bankruptcy forum. These fourteen equitable remand factors are:

1. The effect or lack thereof on the efficient administration of
the estate if a court recommends remand;
2. The extent to which state law issues predominate over bankruptcy
issues;
3. The difficulty or unsettled nature of the applicable law;
4. The presence of a related proceeding commenced in state court or
other non-bankruptcy court;
5. The jurisdictional basis, if any, other than 28 U.S.C. section
1334;
6. The degree of relatedness or remoteness of the proceeding to the
main bankruptcy case;
7. The substance rather than form of an asserted core proceeding;
8. The feasibility of severing state law claims from core
bankruptcy matters to allow judgments to be entered in state court
with enforcement left to the bankruptcy court;
9. The burden on the bankruptcy court's docket;
10. The likelihood that the commencement of the proceeding in
bankruptcy court involves forum shopping by one of the parties;
11. The existence of a right to a jury trial;
12. The presence in the proceeding of nondebtor parties;
13. Comity; and
14. The possibility of prejudice to other parties in the action.

Upon analysis of these factors, the Court finds that most of the
factors favor remand.

The court has also considered the impact of Plaintiff's filing of a
proof of claim in Debtors' bankruptcy case and determines that it
does not have a substantial impact on its determination for
equitable remand. Although Plaintiff has submitted to bankruptcy
court's jurisdiction by filing the proof of claim, which is a core
matter, that the matter is core does not preclude discretionary
remand. Because the court finds equitable grounds for discretionary
remand, remand is appropriate, even if Plaintiff has filed a proof
of claim in this bankruptcy case, which is a core matter.

The court has also taken into consideration traditional policy
grounds upon which motions to remand are often granted including:
judicial economy; prompt, final resolution of disputes; respect for
state courts on issues of state law; and the expertise of the court
in which the matter was pending originally. Beyond the
fourteen-factor equitable remand analysis, the court finds that
traditional policy grounds also warrant remand, as remand is more
likely to lead to a prompt, final resolution of the disputes given
the familiarity of the state court having a history of extensive
litigation proceedings in this case.

A copy of the Court's Memorandum Decision dated July 16, 2018 is
available at https://bit.ly/2Ol0caE from Leagle.com.

Behrouz Shadsirat, Plaintiff, represented by Robert Gentino, Law
Offices of Robert Gentino & Rosendo Gonzalez, Gonzalez & Gonzalez
Law, P.C.

Shahriar Joseph Zargar, Defendant, represented by Ashley M. McDow
--
amcdow@bakerlaw.com -- Foley & Lardner LLP.

Shahriar Joseph Zargar filed for chapter 11 bankruptcy protection
(Bankr. C.D. Cal. Case No. 18-11525) on Feb. 12, 2018, and is
represented by Ashley M. McDow, Esq. of Baker & Hostetler LLP.


SOCAL INVESTMENTS: Aframian Buying El Vago Property for $3.2M
-------------------------------------------------------------
Socal Investments Annex II, LLC, asks the U.S. Bankruptcy Court for
the Central District of California to authorize the bidding
procedures in connection with the sale of the real property
commonly known as 1246 El Vago Street, located in the City of
La-Canada/Flintridge, California, County Tax Assessor's Parcel No.
5811-012-002, to Behrouz Aframian for $3.2 million credit bid,
subject to overbid.

The Buyer, whose address is 640 So. Hill Street, Suite 354, Los
Angeles, California, is the holder of an allowed claim secured by
two trust deed liens against the Property.  The Debtor has entered
into an agreement for the sale of El Vago Property to the Buyer for
the sum of $3.2 million, subject to certain contingencies,
including approval of the sale by the Court.  The purchase price
will be paid solely through a credit bid of the Buyer's secured
claim, subject to overbid.  The Buyer reserves the right to
increase his credit bid, up to the amount of his allowed secured
claim, as an overbid.

Aframian's credit bid is based upon these trust deed liens:

     1. The Risdon Trust Deed recorded as Document No. 2011-0946155
on July 14, 2011 with the Los Angeles County Recorder's Office,
assigned to Firooz Payan as reflected in the Assignment of Deed of
Trust And Note recorded Sept. 27, 2012, as Document No.
2012-1457978 with the Recorder's Office, and thereafter assigned to
Aframian as reflected in the Assignment of Deed of Trust And Note
recorded Oct. 15, 2012 with the Recorder's Office as Document No.
2012-1522109, as later modified by the Modification To Note And
Deed of Trust, recorded Dec. 11, 2013, as Document No.
2013-1750713, which constitutes a first priority trust deed against
the Property; and

     2. The Deed of Trust And Assignment of Rents secured by El
Vago conveyed to Payan as the beneficiary, recorded June 6, 2013,
as Document No. 2013-0849462 with the Recorder's Office, as
subsequently assigned from Payan to Aframian pursuant to the
Assignment of  Deed of Trust And Note, recorded October 8, 2013
with the Recorder's Office as Document No. 2013-1450577.

Both of the foregoing liens were validated and approved as
enforceable liens against the Property pursuant to the "Judgment By
Default Under LBR 7055-1" entered on 8/24/2017 as Docket No. 247 in
Adversary Case No. 2:14-ap-01499-BR.

The sale will be free and clear of all liens, claims and
interests.

The two trust deed liens in favor of the Buyer, identified as items
No. 14 and 17 on the Preliminary Title Report identified by Order
No. 00201311-012-PG-SL4, dated July 10, 2018, Amended July 23,
2018, prepared by Fidelity National Title Insurance Co. (which are
to either be released should the sale to Buyer be approved, or paid
directly from escrow should a sale to the Highest Bidder other than
the Buyer be approved), on an "as is" basis for the sales price of
$3.2 million through escrow for sale of the Property, and on the
other terms and conditions set forth thereof.

Another exception of the El Vago Property being transferred free
and clear is in the event Aframian is the Buyer and fails to abide
by the Court's Order Conditionally Granting Stipulation Resolving
Counsel Sheila Esmaili's Motion to Withdraw as General Bankruptcy
Counsel to Debtor SoCal and Debtor Tarlin in the Respective Chapter
11 Bankruptcies, and as Counsel to Plaintiff SoCal in the Related
Adversary Proceeding ("Order re Stipulation"), entered on Jan. 8,
2018.  In the event of a violation of the Court's Order re
Stipulation, including but not limited to: (1) Aframian's failure
to retain the $10,000 Carve-Out, to cover the Counsel's
administrative fee as may be authorized by the Court; and (2) the
unpaid retainer balance of $5,100 and the amount of $3,325
representing the balance due Counsel in the Adversary Proceeding,
within 7 days from the last date the Court enters an Order
approving each of the foregoing, the Debtor's Counsel will have a
lien against the El Vago Property in the amount due on her fee
applications, in first priority, with interest accruing 10% percent
per annum.

The Debtor proposes that the Overbid Procedures be used at the
hearing for the purpose of considering bids.

The salient terms of the Bidding Procedures are:

     a. Bid Deadline: At least two business days prior to the
commencement of the hearing Aug. 28, 2018 at 10:00 a.m.

     b. First Overbid: $3.25 million (i.e., $50,000 more than the
Buyer's initial credit bid of $3.2 million)

     c. Deposit: $100,000

     d. Auction: Qualified Bidders must attend the hearing on Aug.
28, 2018 at 10:00 a.m. to participate in the overbidding.

     e. Bid Increments: $25,000

     f. The bid on the identical terms as, or better terms than,
the Buyer as set forth in the Agreement including, but not limited
to accepting the Property in an "as-is" condition, with no
contingencies of sale, and the ability to close an "all-cash"
transaction no later than 10 calendar days from the date of the
hearing.

     g. Closing: No later than 10 calendar days from the date of
the Sale Hearing.

A copy of the Agreement and the Bidding Procedures attached to the
Motion is available for free at:

       http://bankrupt.com/misc/SOCAL_INVESTMENTS_250_Sales.pdf

The exact nature of the potential tax consequences to the estate
relative to the sale are presently unknown however the Debtor
believes that no tax will be due upon sale based upon the Debtor's
basis in the property, and any gain will be offset by losses and
expenses incurred by the estate.

The Debtor asks the approval of the Court to allow Aframian, as the
holder of the only two allowed liens secured by the Property, to
credit bid up to the amount of his allowed claim against the
purchase price.  To the extent Aframian is the Highest Bidder, he
has agreed to advance funds, in addition to his credit bid, in an
amount required to pay all Closing, and the $10,000 carve-out
payable directly to the Debtor's counsel for allowed administrative
fees, as required by the Court's Order re Stipulation.

The Debtor asks the Court to waive the 14-day waiting period set
forth in F.R.B.P. Rule 6004(h).

A hearing on the Motion is set for Aug. 28, 2018 at 10:00 a.m.
Objections, if any, must be filed no later than 14 calendar days
before the date of hearing on the Motion.

                    About Socal Investments

Socal Investments - Annex II LLC, based in Glendale, CA, filed a
Chapter 11 petition (Bankr. C.D. Cal. Case No. 14-24036) on July
23, 2014.  A related case was commenced the same date by Tarlin
Investments LLC (Case No. 14-24045).  In the petition signed by
Edwin Moossalan, manager, Socal Investments estimated $1 million to
$10 million in assets and $500,000 to $1 million in liabilities.
The Hon. Barry Russell presides over the case.  Raymond H. Aver,
Esq., at Law Offices of Raymond H. Aver, APC, serves as bankruptcy
counsel.


SOLAR CAPITAL: S&P Lowers ICR to 'BB+', Outlook Stable
------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on Solar
Capital Ltd. to 'BB+' from 'BBB-'. The outlook is stable. S&P said,
"We also lowered our rating on Solar's senior unsecured debt (notes
due 2022, tranche C, and notes due 2023) to 'BB+' from 'BBB-'."

On Aug. 2, 2018, Solar's board of directors approved the adoption
of the modified asset coverage requirement allowed by the Small
Business Credit Availability Act with regard to business
development companies (BDCs). The company's applicable minimum
asset coverage ratio will decline to 150% from 200%, which
effectively increases its maximum allowed debt-to-equity ratio to
2:1 from 1:1. Solar will seek shareholder approval at its autumn
shareholders meeting, allowing for immediate implementation of the
lower asset coverage requirement. As a result, S&P's anchor for
Solar is now 'bb+', which is the starting point for its ratings on
BDCs that adopt the lower asset coverage requirement.

S&P said, "Our stable outlook reflects that the company will
gradually increase its leverage over the next 12 months but
maintain leverage, as measured by debt to adjusted total equity,
below 1.0x.   

"We could lower the rating if the company increases leverage, as
measured by debt to adjusted total equity, above 1.0x and earnings
metrics deteriorate to the point where its realized return on
average assets is below 5%, its recurring earnings coverage of
interest falls below 3.0x, or its recurring earnings coverage of
interest falls below 1.0x over a sustained period.

"Although an upgrade is unlikely in the near term, we could raise
the rating if the company maintains leverage below 1.0x and has
good investment portfolio performance, reflected by low nonaccruals
and minimal realized losses."  



SPANISH BROADCASTING: Expects $34.5M to $34.8M 2nd Quarter Revenue
------------------------------------------------------------------
Spanish Broadcasting System, Inc., reported preliminary estimated
financial results for the second quarter-ended June 30, 2018.

For the second quarter 2018, the Company currently estimates
consolidated net revenue to be between approximately $34.5 million
and $34.8 million, an increase of between 1% and 2% over 2017 and
Adjusted OIBDA, which excludes non-cash stock-based compensation,
to be between approximately $10.8 million and $11.6 million, an
increase of between 34% and 44% over 2017.  

"As previously forecasted, the Company has continued its positive
operational momentum throughout the second quarter with strong
OIBDA growth and operating margins that continue to be among the
highest in the industry.

"In addition, the announced $14 million sale of our surplus real
estate in New York City has successfully closed, allowing for our
move to newer and more suitable facilities in midtown Manhattan.  A
correlated and corresponding repayment of the Company's 12.5%
senior secured notes from the net proceeds of the real estate sale
has been undertaken, as previously envisioned.

"We maintain our positive view as to the continuing momentum in
2018 and will be filing our finalized second quarter results within
the next week," commented Raul Alarcon, Chairman and CEO.

                     About Spanish Broadcasting

Based in Miami, Florida, Spanish Broadcasting System, Inc.
(OTCMKTS:SBSAA) -- http://www.spanishbroadcasting.com/-- owns and
operates 17 radio stations located in the top U.S. Hispanic markets
of New York, Los Angeles, Miami, Chicago, San Francisco and Puerto
Rico, airing the Spanish Tropical, Regional Mexican, Spanish Adult
Contemporary, Top 40 and Latin Rhythmic format genres.  SBS also
operates AIRE Radio Networks, a national radio platform which
creates, distributes and markets leading Spanish-language radio
programming to over 250 affiliated stations reaching 94% of the
U.S. Hispanic audience.  SBS also owns MegaTV, a television
operation with over-the-air, cable and satellite distribution and
affiliates throughout the U.S. and Puerto Rico. SBS also produces
live concerts and events and owns multiple bilingual websites,
including www.LaMusica.com, an online destination and mobile app
providing content related to Latin music, entertainment, news and
culture.

The report from the Company's independent accounting firm Crowe
Horwath LLP, the Company's auditor since 2013, on the consolidated
financial statements for the year ended Dec. 31, 2017, includes an
explanatory paragraph stating that the 12.5% Senior Secured Notes
had a maturity date of April 15, 2017.  Cash from operations or the
sale of assets was not sufficient to repay the notes when they
became due.  In addition, for the year ended Dec. 31, 2017, the
Company had a working capital deficiency and negative cash flows
from operations.  These factors raise substantial doubt about its
ability to continue as a going concern.

Spanish Broadcasting reported net income of $19.62 million for the
year ended Dec. 31, 2017, compared to a net loss of $16.34 million
for the year ended Dec. 31, 2016.  As of March 31, 2018, Spanish
Broadcasting had $435.59 million in total assets, $534.85 million
in total liabilities and a total stockholders' deficit of $99.26
million.

                          *     *     *

In May 2017, S&P Global Ratings withdrew its 'D' corporate credit
rating and issue-level ratings on Spanish Broadcasting System.  "We
withdrew the ratings because we were unlikely to raise them from
'D', based on SBS' ongoing plans to restructure its debt," said S&P
Global Ratings' credit analyst Scott Zari.  S&P had downgraded SBS
to 'D' on April 21, 2017, following the company's announcement that
it didn't repay its $275 million 12.5% senior secured notes that
were due April 15, 2017, as reported by the TCR on May 25, 2017.

In April 2017, Moody's Investors Service downgraded SBS's corporate
family rating to 'Ca' from 'Caa2'.  SBS's 'Ca' corporate family
rating reflects an elevated expected loss rate following the
default under the company's 12.5% senior secured notes due April
2017, said Moody's.


STEVEN DAVIS: Sale of Forth Worth Property Approved
---------------------------------------------------
Judge of the U.S. Bankruptcy Court for the Northern District of
Texas authorized Steven Michael Davis, II's sale of the residential
real property located at 10805 Elmhurst Lane, Fort Worth, Texas.

The sale is free and clear of liens, claims and encumbrances.  Such
liens, claims and encumbrances to attach to the proceeds of sale.

The reasonable and necessary closing costs will be paid at closing
along with the real estate broker's commission.  Any excess sale
proceeds will be held by counsel for the Debtor pending further
order of the Court regarding distribution of such sale proceeds.

Notwithstanding anything to the contrary, the liens securing
payment of the 2018 ad valorem taxes will remain attached to the
property to secure payment of all ad valorem property taxes
assessed on the property for the 2018 tax year and any penalties
and interest that may accrue thereon.

There will be no 14-day delay in the effectiveness of the Order of
Sale.

Steven Michael Davis II sought Chapter 11 protection (Bankr. N.D.
Tex. Case No. 17-41860) on May 1, 2017.  Joyce W. Lindauer, Esq.,
at Joyce W. Lindauer Attorney, PLLC, serves as counsel.


TALEN ENERGY: S&P Alters Outlook to Neg. on Weaker Credit Metrics
-----------------------------------------------------------------
S&P Global Ratings revised its outlook on Talen Energy Supply LLC
to negative from stable.

The 'BB' issue-level rating and '1' recovery rating on the
company's secured debt are unchanged. The 'B+' issue-level rating
and '4' recovery rating on the unsecured guaranteed debt are
unchanged. The 'B-' issue-level rating and '6' recovery rating on
Talen's unsecured unguaranteed debt are also unchanged.

S&P said, "The negative outlook reflects that we could lower our
rating on Talen in the next 12 months. While we had previously
expected the company to reduce its leverage, based on its
proficiency with cost cutting, it has since paid a large
distribution to its equity sponsor. Additionally, our updated
forecast now includes considerably weaker metrics for 2020. While
this had previously been outside of our forecast period because we
rate Talen below our investment-grade threshold, it now figures
into our weighted average leverage figure. We believe that
heightened leverage in 2020 could affect the company's refinancing
prospects, which--while not immediately pressing--could become more
urgent in 2021 or 2022.

"The negative outlook on Talen Energy Supply LLC reflects our
expectation that its metrics will remain elevated due to
persistently weak power prices, which could permanently increase
its leverage above 6.0x and make any future refinancing efforts
more difficult.

"We would likely lower our ratings on Talen if the company's
leverage increases above 6.25x in our forecasts, either due to
diminished market conditions or more aggressive financial policies.
Weaker market conditions could stem from a variety of factors,
including lower-than-expected demand growth or
greater-than-anticipated renewable penetration that weakens pricing
for baseload generators. Policies that could weaken the company's
credit quality include leveraging distributions and cost reductions
that, while credit supportive in the near term, could weaken its
operations over the longer term. Additionally, difficulty with
refinancing its debt on economical terms could lead us to lower our
ratings.

"We could revise our outlook on Talen to stable if the company
continues to reduce its costs on synergies stemming from its
acquisition by Riverstone such that its offsets the weakness in the
power markets and causes its leverage metric to decline to around
5.5x or less. We would also need to consider management's financial
policies before revising our outlook on the company."


TECHNICAL COMMUNICATIONS: Reports Q3 Net Income of $243,000
-----------------------------------------------------------
Technical Communications Corporation reported that for the three
months ended June 30, 2018, the Company had net income of $243,000,
or $0.13 per share, on revenue of $1,544,000, compared to a net
loss of $(344,000), or $(0.19) per share, on revenue of $1,068,000
for the quarter ended July 1, 2017.  For the nine months ended June
30, 2018, the Company reported a net loss of $(122,000), or $(0.07)
per share, on revenue of $3,590,000, compared to a net loss of
$(911,000), or $(0.50) per share, on revenue of $3,084,000 for the
nine months ended July 1, 2017.

As of June 30, 2018, the Company had $3.84 million in total assets,
$481,000 in total current liabilities and $3.36 million in total
stockholders' equity.

Commenting on corporate performance, Carl H. Guild, Jr., president
and chief executive officer of TCC, said, "During the Company's
third quarter ended June 30, 2018, we achieved some improvement in
our financial performance.  We produced a modest level of
profitability on revenues that were higher than the previous
quarter.  As we have previously reported, TCC is pursuing several
international opportunities that are progressing toward the
procurement phase with each project going through extensive
customer evaluations and testing.  In certain cases we are
tailoring the product performance to meet unique customer
requirements, which we believe provides a higher level of customer
satisfaction and the potential for a long-term customer
relationship."

                 About Technical Communications

Concord, Massachusetts-based Technical Communications Corporation
-- http://www.tccsecure.com/-- designs, develops, manufactures,
distributes, markets and sells communications security devices,
systems and services.  The secure communications solutions provided
by TCC protect vital information transmitted over a wide range of
data, video, fax and voice networks.  TCC's products have been sold
into over 115 countries to governments, military agencies,
telecommunications carriers, financial institutions and
multinational corporations.

Technical Communications reported a net loss of $1.43 million for
the year ended Sept. 30, 2017, compared to a net loss of $2.47
million for the year ended Oct. 1, 2016.

As of Sept. 30, 2017, Technical Communications had $3.93 million in
total assets, $434,470 in total liabilities, all current, and $3.50
million in total stockholders' equity.

Moody, Famiglietti & Andronico, LLP, in Tewksbury, Mass., issued a
"going concern" opinion in its report on the consolidated financial
statements for the year ended Sept. 30, 2017, citing that the
Company has an accumulated deficit, has suffered significant net
losses and negative cash flows from operations and has limited
working capital that raise substantial doubt about its ability to
continue as a going concern.


TOWER PROPERTIES: $460K Sale of Gretna Property to CAL Approved
---------------------------------------------------------------
Judge Elizabeth W. Magner of the U.S. Bankruptcy Court for the
Eastern District of Louisiana authorized Tower Properties, LLC's
sale of a parcel located at 12 Westbank Expressway, Gretna,
Louisiana to CAL Realty, LLC for $460,000.

A hearing on the Motion was held on July 20, 2018.

At the closing of the Act of Sale of 12 Westbank Expressway,
Gretna, Louisiana, the Debtor is authorized to pay to Hancock
Whitney Bank all principal, interest (at the non-default rates),
and late charges owed.  All amounts claimed by Hancock Whitney Bank
for both default interest and attorney's fees will be held in
escrow, and Hancock Whitney Bank may file and set for hearing a
motion requesting the disbursement to it of the escrowed funds.

The Act of Sale be scheduled and concluded within 70 days after
June 15, 2018, the date of acceptance of the Agreement to Purchase
or Sell.

Dyess Medical Center, Inc. will immediately issue to all of its
patients any and all statutorily required notices of its intent to
change locations, if it has not done so already, as previously
ordered by the Court at the July 20, 2018 hearing.

The counsel for Mover will serve the Order on the required parties
who will not receive notice through the ECF system pursuant to the
FRBP and the LBRs and file a certificate of service to that effect
within three days.

                     About Tower Properties

Tower Properties, LLC, was created and exists to own or otherwise
hold real estate which is utilized and occupied by its affiliated
and related company, Dyess Medical Center, Inc.  Dyess, also a
debtor-in-possession in Case No. 17-11907 pending in the United
States Bankruptcy Court for the Eastern District of Louisiana.

Tower Properties sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. E.D. La. Case No. 17-11909) on July 20,
2017.  In the petition signed by James M. Dyess, president, the
Debtor estimated assets and liabilities of less than $1 million.
Judge Elizabeth W. Magner presides over the case.  Robert L.
Marrero, LLC, is the Debtor's counsel.  Revolution Realty is the
real estate broker.


TOYS R US: Affiliates Tap Fox Rothschild as Conflicts Counsel
-------------------------------------------------------------
Toys "R" Us Property Company II, LLC and two other affiliates of
Toys "R" Us, Inc., seek approval from the U.S. Bankruptcy Court for
the Eastern District of Virginia to hire Fox Rothschild LLP.

The firm will represent Toys "R" Us Property, Giraffe Holdings, LLC
and Giraffe Junior Holdings, LLC in matters where there is conflict
of interest between them and their members or affiliates in
connection with their Chapter 11 cases.

The firm will charge these hourly rates:

     Members               $400 - $750
     Of Counsel            $410 - $475
     Associates            $290 - $380
     Paraprofessionals     $150 - $230

Robert Fishman, Esq., a partner at Fox Rothschild, disclosed in a
court filing that his firm is a "disinterested person" as defined
in Section 101(14) of the Bankruptcy Code.

In accordance with Appendix B-Guidelines for reviewing fee
applications filed by attorneys in larger Chapter 11 cases, Mr.
Fishman disclosed that his firm has not agreed to any variations
from, or alternatives to, its standard billing arrangements; and
that no Fox Rothschild professional has varied his rate based on
the geographic location of the Debtors' cases.  

Mr. Fishman also disclosed that his firm has not represented the
Debtors during the 12-month period before the petition date.

The Debtors have already approved a budget for Fox Rothschild for
the period from June 11, 2018 through the anticipated end of the
Debtors' cases, Mr. Fishman also disclosed.

Fox Rothschild can be reached through:

     Robert M. Fishman, Esq.
     Peter J. Roberts, Esq.
     Fox Rothschild LLP
     321 North Clark Street, Suite 800  
     Chicago, IL 60654
     Telephone: (312) 541-0151 / (312) 666-2842
     Facsimile: (312) 980-3888
     Email: rfishman@foxrothschild.com
     Email: proberts@foxrothschild.com

                      About Toys R Us, Inc.

Toys "R" Us, Inc., was an American toy and juvenile-products
retailer founded in 1948 and headquartered in Wayne, New Jersey, in
the New York City metropolitan area.  Merchandise was sold in 880
Toys "R" Us and Babies "R" Us stores in the United States, Puerto
Rico and Guam, and in more than 780 international stores and more
than 245 licensed stores in 37 countries and jurisdictions.
Merchandise was also sold at e-commerce sites including Toysrus.com
and Babiesrus.com.

On July 21, 2005, a consortium of Bain Capital Partners LLC,
Kohlberg Kravis Roberts, and Vornado Realty Trust invested $1.3
billion to complete a $6.6 billion leveraged buyout of the
company.

Toys "R" Us is a privately owned entity but still files with the
U.S. Securities and Exchange Commission as required by its debt
agreements.

The Company's consolidated balance sheet showed $6.572 billion in
assets, $7.891 billion in liabilities, and a stockholders' deficit
of $1.319 billion as of April 29, 2017.

Toys "R" Us, Inc., and certain of its U.S. subsidiaries and its
Canadian subsidiary voluntarily filed for relief under Chapter 11
of the Bankruptcy Code (Bankr. E.D. Va. Lead Case No. Case No.
17-34665) on Sept. 19, 2017.  In addition, the Company's Canadian
subsidiary voluntarily commenced parallel proceedings under the
Companies' Creditors Arrangement Act ("CCAA") in Canada in the
Ontario Superior Court of Justice.  The Company's operations
outside of the U.S. and Canada, including its 255 licensed stores
and joint venture partnership in Asia, which are separate entities,
were not part of the Chapter 11 filing and CCAA proceedings.

Grant Thornton is the monitor appointed in the CCAA case.

Judge Keith L. Phillips presides over the Chapter 11 cases.

In the Chapter 11 cases, Kirkland & Ellis LLP and Kirkland & Ellis
International LLP serve as the Debtors' legal counsel.  Kutak Rock
LLP serves as co-counsel.  Toys "R" Us employed Alvarez & Marsal
North America, LLC as its restructuring advisor; and Lazard Freres
& Co. LLC as its investment banker.  It hired Prime Clerk LLC as
claims and noticing agent.  Consensus Advisory Services LLC and
Consensus Securities LLC, serve as sale process investment banker.
A&G Realty Partners, LLC, serves as its real estate advisor.

On Sept. 26, 2017, the U.S. Trustee for Region 4 appointed an
official committee of unsecured creditors.  The Committee retained
Kramer Levin Naftalis & Frankel LLP as its legal counsel; Wolcott
Rivers, P.C., as local counsel; FTI Consulting, Inc. as financial
advisor; and Moelis & Company LLC as investment banker.

                        Toys "R" Us UK

Toys "R" Us Limited, Toys "R" Us, Inc.'s UK arm with 105 stores and
3,000 employees, was sent into administration in the United Kingdom
in February 2018.

Arron Kendall and Simon Thomas of Moorfields Advisory Limited, 88
Wood Street, London, EC2V 7QF were appointed Joint Administrators
on Feb. 28, 2018. The Administrators now manage the affairs,
business and property of the Company.  The Administrators act as
agents only and without personal liability.

The Administrators said they will make every effort to secure a
buyer for all or part of the business.

                   Liquidation of U.S. Stores

Toys "R" Us, Inc., on March 15, 2018, filed with the U.S.
Bankruptcy Court a motion seeking Bankruptcy Court approval to
start the process of conducting an orderly wind-down of its U.S.
business and liquidation of inventory in all 735 of the Company's
U.S. stores, including stores in Puerto Rico.

                         Propco I Debtors

Toys "R" Us Property Company I, LLC and its subsidiaries own fee
and leasehold interests in more than 300 properties in the United
States.  The Debtors lease the properties on a triple-net basis
under a master lease to Toys-Delaware, the operating entity for all
of TRU's North American businesses, which operates the majority of
the properties as Toys "R" Us stores, Babies "R" Us stores or
side-by-side stores, or subleases them to alternative retailers.

Toys "R" Us Property was founded in 2005 and is headquartered in
Wayne, New Jersey.  Toys 'R' Us Property operates as a subsidiary
of Toys "R" Us Inc.

Company LLC, MAP Real Estate LLC, TRU 2005 RE I LLC, TRU 2005 RE II
Trust, and Wayne Real Estate Company LLC (collectively, "Propco I
Debtors") sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. E.D. Va. Lead Case No. 18-31429) on March 20, 2018. The
Propco I Debtors sought and obtained procedural consolidation and
joint administration of their Chapter 11 cases, separate from the
Toys "R" Us Debtors' Chapter 11 cases.

The Propco I Debtors estimated assets of $500 million to $1 billion
and liabilities of $500 million to $1 billion.

Judge Keith L. Phillips presides over the Propco I Debtors' cases.

The Propco I Debtors hired Klehr Harrison Harvey Branzburg, LLP;
and Crowley, Liberatore, Ryan & Brogan, P.C., as co-counsel.  The
Debtors also tapped Kutak Rock LLP.  They hired Goldin Associates,
LLC, as financial advisors.


TPC FAMILY MEDICINE: Case Summary & 14 Unsecured Creditors
----------------------------------------------------------
Debtor: TPC Family Medicine and Urgent Care Clinic, PLLC
        c/o Christopher Montoya
        1218 Wilder Pond
        San Antonio, TX 78260

Business Description: TPC Family Medicine is a family friendly
                      clinic in San Antonio, Texas offering
                      routine physicals, primary care physicals,
                      school physicals, acute/chronic illnesses
                      care, urgent/injuries care, laboratory
                      services, disease management, patient
                      education, primary care, preventative care,
                      wellness, well-woman care, gynecological
                      exams, pap smears, weight management, minor
                      surgical procedures, vaccinations or
                      immunizations and more.  Visit
                      http://tpcfamilymedicine.comfor additional
                      information.

Chapter 11 Petition Date: August 8,2018

Court: United States Bankruptcy Court
       Western District of Texas (San Antonio)

Judge: Hon. Craig A. Gargotta

Case No.: 18-51907

Debtor's Counsel: H. Anthony Hervol, Esq.
                  LAW OFFICE OF H. ANTHONY HERVOL
                  4414 Centerview Dr, Suite 200
                  San Antonio, TX 78228
                  Tel: (210) 522-9500
                  Fax: (210) 522-0205
                  Email: hervol@sbcglobal.net

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

Estimated Liabilities: $1 million to $10 million

The petition was signed by Christopher Montoya, managing member.

A full-text copy of the petition containing, among other items, a
list of the Debtor's 14 unsecured creditors is available for free
at:

          http://bankrupt.com/misc/txwb18-51907.pdf


TRAVEL LEADERS: Moody's Rates New Term Loan 'B2', Outlook Stable
----------------------------------------------------------------
Moody's Investors Service assigned a B2 rating to Travel Leaders
Group, LLC's proposed upsized and re-priced $628.6 million first
lien term loan (which is being upsized by $100 million). The B2
Corporate Family Rating, B2-PD Probability of Default Rating, the
B2 rating on the revolving credit facility and the stable rating
outlook are unaffected.

The proceeds from the incremental $100 million first lien term loan
along with balance sheet cash will be used to finance the
acquisition of Bonotel Exclusive Travel, a hotel wholesaler, and
pay transaction fees and expenses. Additionally, TLG is expected to
re-price its first lien term loan by modestly reducing the
applicable margin rate. All other terms and conditions are expected
to remain unchanged. The transaction is expected to close in August
2018 subject to customary closing arrangements.

Moody's assigned the following ratings:

Issuer: Travel Leaders Group, LLC

  --- Proposed $628.6 million senior secured first lien term loan
due 2024, B2 (LGD3)

RATINGS RATIONALE

The contemplated transaction is moderately credit negative because
it will increase TLG's term debt and leverage. Following the close
of the refinancing, TLG's debt-to-EBITDA (Moody's adjusted,
including EBITDA from recent acquisitions and credit card marketing
agreement) will increase to 5.2 times from 4.9 times as of March
31, 2018, which weakly positions the company in the B2 rating
category.

Nevertheless, Moody's believes that the proposed acquisition is
strategically sound as it allows TLG to leverage Bonotel's
relationships with hotel suppliers, with a focus on the Las Vegas
luxury hotel market and create cross-selling opportunities within
the existing portfolio. Management estimates meaningful acquisition
revenue synergies to be realized within the first 18-24 months of
closing, which Moody's conservatively excludes from TLG future
earnings. Moody's forecasts 2-3% organic revenue growth for TLG's
core business and free cash flow of approximately $80-90 million
over the next 12-15 months. Absent further acquisitions,
debt-to-EBITDA leverage (Moody's adjusted) should decline to below
5.0 times in 2019.

Travel Leaders' B2 CFR reflects the company's moderately high debt
levels and leverage relative to its size, with pro forma
debt-to-EBITDA (Moody's adjusted, including EBITDA from recent
acquisitions and credit marketing agreement) estimated at 5.2 times
as of March 31, 2018. The company's rating also acknowledges its
limited operating scale with revenue concentration within the
cyclical travel services sector, as well as risks associated with
its acquisition growth strategy. The company operates in a
tightly-defined niche segment of high-end leisure and corporate
travel services with revenues generally in the form of upfront fees
from clients (net of revenue shared with agents), along with back
end performance fees, commissions, and marketing income from
suppliers and various fees from travel agency members. As such,
Moody's believes that the company's business model entails risk
associated with the cyclical and discretionary nature of these
markets, as well as the evolving nature of suppliers of travel
service providers (primarily airlines and hotels). However, TLG's
long-standing relationships with the major travel suppliers, along
with a strong and defensible market position in the high-end travel
market and relatively stable and predictable revenue and earnings
with strong margins offset much of this risk. The stable outlook
reflects Moody's expectation of favorable demand trends in the
luxury leisure and business travel end markets, steady deleveraging
through earnings growth and modest debt amortization payments, as
well as maintenance of at least good liquidity.

Ratings could be downgraded if revenue levels decline materially
due to weakness in any of its key markets, or if the company were
to face pressure on commissions or volume from key travel
suppliers. Lower ratings could also result if the company were to
undertake large debt-financed acquisitions, or implement
debt-funded shareholder returns. Additionally, rating pressure
could occur if liquidity deteriorates or with metrics at the
following levels: debt-to-EBITDA sustained above 5.0 times;
EBITA-to-interest expense of less than 2.0 times; or free cash flow
to debt of less than 5%.

Upward rating pressure is limited by the potential for aggressive
returns to the company's private equity sponsor and the company's
moderate size. However, the ratings could be upgraded if the
company expands its operating scope to gain further benefits from
scale and diversification while sustaining debt-to-EBITDA of less
than 3.0 times and EBITA-to- interest expense in excess of 5.0
times. A good liquidity profile, characterized by
consistently-positive free cash flow generation while maintaining
robust cash reserves with little use of the revolver, would also be
necessary for a ratings upgrade.

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

TLG headquartered in New York, NY, manages corporate, leisure,
franchise, and consortia travel operations under its network of
diversified divisions and brands. Brands include Tzell Travel
Group, Protravel International, Nexion, Vacation.com, Travel
Leaders, Cruise Holidays, Cruise Specialists, and Altour. TLG is
majority owned and controlled by Certares. The company generated
pro forma revenues of approximately $673 million as of last twelve
months ended March 31, 2018.


TRAVEL LEADERS: S&P Alters Outlook to Negative & Affirms 'B+' ICR
-----------------------------------------------------------------
S&P Global Ratings revised its rating outlook on New York-based
Travel Leaders Group LLC (TLG) to negative from stable. At the same
time, S&P affirmed the 'B+' issuer credit rating.

S&P said, "In addition, we assigned our 'B+' issue-level rating and
'3' recovery rating to TLG's proposed senior secured term loan due
2024. The '3' recovery rating indicates our expectation for
meaningful (50%-70%; rounded estimate: 50%) recovery for lenders in
the event of a payment default.

"We also affirmed our 'B+' rating and '3' recovery rating on TLG's
existing $25 million revolver due 2022.

"The negative outlook reflects our expectation that elevated costs
and the incremental debt to fund the acquisition of Bonotel
Exclusive Travel will result in leverage at or near our 5x
downgrade threshold over the next two years. We expect TLG will
remain acquisitive, and additional debt-funded acquisitions or cost
overruns could cause our measure of total adjusted leverage to stay
above 5x over the intermediate term.

"The negative outlook reflects our expectation that the incremental
debt to fund the acquisition of Bonotel, combined with higher than
previously expected SG&A costs, will result in leverage at or near
our 5x downgrade threshold over the next two years. We expect TLG
will continue to be acquisitive, and additional debt-funded
acquisitions or cost overruns could result in our measure of total
adjusted leverage sustained above 5x over the intermediate term.

"We could lower the rating if TLG makes additional large
debt-financed acquisitions, or if it cannot manage costs while
successfully integrating acquired businesses, such that we believe
the company will maintain our measure of leverage above 5x on an
ongoing basis.

"We could stabilize the outlook on TLG if we believe it will reduce
and maintain leverage under 5x, likely the result of good cost
management and funding future acquisitions in a manner that does
not increase leverage. Higher ratings are unlikely at this time,
because we believe TLG would utilize leverage capacity for future
acquisitions. However, we could raise the rating if we are
confident TLG is willing to maintain leverage below 3.5x,
incorporating potential future acquisitions and shareholder
returns."



TSI HOLDINGS: QuickLiquidity Approved as Stalking Horse Bidder
--------------------------------------------------------------
QuickLiquidity on Aug. 7, 2018, disclosed that it was approved by
the U.S. Bankruptcy Court in the Western District of North Carolina
to be the stalking horse bidder to purchase a 32.55% minority
interest position in a 70,000-square foot office building located
in Charlotte, NC for $1.6 million.

A stalking horse bid is the initial bid on an asset in bankruptcy
that is being marketed for sale.  The stalking horse bid
establishes a "floor" price for the asset as a way to avoid lowball
bids at an auction and maximize the asset's value.

The Bankruptcy Court approved the employment of a local brokerage
to serve as the Chapter 7 Trustee's broker to find a suitable
purchaser for the 32.55% interest.  They actively marketed the
interest for months and although multiple parties had demonstrated
interest, QuickLiquidity was the only party that came forward with
a formal offer to purchase the interest.

Due to the 32.55% interest being a minority interest position with
no say in management decisions, the interest is an illiquid and
non-controlling investment.  This adds an additional layer of risk
as the task of managing and ultimately selling the office building
is left up to the managing members' discretion.  This increased
risk typically makes it harder to sell minority interest interests
in commercial real estate.  However, where others see risk
QuickLiquidity see's opportunity.  QuickLiquidity has a proven
track record of success as a direct buyer and lender against
minority interest positions in commercial real estate LLCs, LPs,
TICS, and DSTs on a nationwide basis.

Shortly after QuickLiquidity was approved as the stalking horse
bidder, one of the other owners of the office building expressed a
desire to bid on the 32.55% interest.  This led the Trustee to hold
an auction for all qualified bidders to participate.
QuickLiquidity participated in the auction with the hope of
purchasing the interest but ultimately the other owner, who was
also the managing member, ended up winning the auction with a bid
of $3.3 million.  While QuickLiquidity was disappointed to miss out
on winning the auction, they were incredibly pleased that their
involvement as the stalking horse bidder resulted in the Trustee's
gain of millions of dollars in value.  QuickLiquidity has created
significant value for the trustee and debtor in every Chapter 7 and
Chapter 11 bankruptcy it has been involved with.

"We have a tremendous amount of experience with purchasing and
lending against minority interest positions in commercial real
estate, whether or not in bankruptcy.  This allows us to understand
and close complicated transactions quickly," said A. Yoni Miller,
Principal of QuickLiquidity.

QuickLiquidity may be reached at:

          A. Yoni Miller
          QuickLiquidity
          500 NE Spanish River Blvd #205
          Boca Raton, FL 33431
          Telephone: (561) 221-0881 ext 102
          E-mail: ymiller@quickliquidity.com

                           *     *     *

Sharon Road Properties, LLC, owns a 32.55% interest in Bissell
Porter Siskey, LLC, which in turn owns the 70,839 square-foot
multi-tenant office building located at 4521 Sharon Road in
Charlotte.  BPS's only tangible asset is the Office Building, which
includes an approximately three-acre parcel of land located across
Sharon Road from the South Park Mall in Charlotte.

Bissell Porter Three, LLC owns the remaining 67.45% interest in
BPS.  BP3 has agreed that, pursuant to the terms of BPS's operating
agreement, the Chapter 7 Trustee for Sharon Road Properties and its
affiliated debtors, has the full power and authority to transfer
SRP's economic interest in BPS only, but not any voting rights or
any other portion of SRP's BPS membership interest.

Judge J. Craig Whitley entered on May 15 an order approving bidding
and auction procedures to test QuickLiquidity's stalking horse bid.
The Court set July 12 as deadline for submitting competing offers
and July 19 as auction date.  The Court held that if the Stalking
Horse is not the winning bidder at the auction or if the Chapter 7
Trustee cancels the sale for no fault of the Stalking Horse, then
the Trustee must pay the Stalking Horse a $40,000 break-up fee.

At the auction, the highest bidder for the BPS Interest was Bissell
Porter Four, LLC which bid $3,300,000.  The next highest bidder was
KLJ Properties, L.L.C which bid $3,150,000.

The Bankruptcy Court approved the sale to Bissell Porter Four in an
order dated July 26.

Distribution of the auction proceeds to equity holders of SRP
cannot occur until the claims of Stone Street Partners, LLC f/k/a
Siskey Capital, LLC, Dawn E. King and Paul G. Porter in the SRP
bankruptcy case are resolved.

Creditors who alleged they were owed roughly $1,425,000, commenced
an involuntary Chapter 7 case against TSI Holdings, LLC (Bankr.
W.D.N.C. Case No. 17-30132) on January 27, 2017.  Involuntary
Chapter 7 petitions were filed against WSC Holdings (Case No.
17-30338) and SouthPark Partners, LLC (Case No. 17-30339) on March
3, 2017.  An involuntary Chapter 7 petition was filed against
Sharon Road Properties, LLC (Case No. 17-30363) on March 9, 2017.
The cases are jointly administered, with TSI's as the lead case.

The petitioning creditors are represented by:

     James H. Henderson, Esq.
     THE HENDERSON LAW FIRM
     1201 Harding Place
     Charlotte, NC 28204

Joseph W. Grier III, the court-appointed chapter 7 trustee, is
represented by his firm:

     Joseph W. Grier, III, Esq.
     Anna S. Gorman, Esq.
     Michael L. Martinez, Esq.
     GRIER FURR & CRISP, PA
     101 North Tryon Street, Suite 1240
     Charlotte, NC 28246
     Tel: 704-375-3720
     Fax: 704-332-0215
     E-mail: mmartinez@grierlaw.com

The successful bidder and buyer, BP4, is represented in the case
by:

     David Melin, Esq.
     RAYBURN COOPER & DURHAM P.A.
     227 W Trade St # 1200
     Charlotte, NC 28202
     Tel: 704-334-0891
     E-mail: dmelin@rcdlaw.net

KLJ Properties, the backup bidder, is represented by:

     Charles M. Ivey, III, Esq.
     IVEY McCLELLAN GATTON SIEGMUND LLP
     100 South Elm Street Suite 500
     Greensboro, NC 27401
     Tel: 336-274-4658
     Fax: 336-274-4540



UNITED CHARTER: Taps CJ & Associates as Special Counsel
-------------------------------------------------------
United Charter LLC seeks approval from the U.S. Bankruptcy Court
for the Eastern District of California to hire CJ & Associates as
special counsel.

The firm will represent the Debtor in lease negotiations and
litigation arising from the operation of its industrial warehouse
facility in Stockton, California.

CJ & Associates has no connection with the Debtor, its creditors or
anyone employed by the Office of the U.S. Trustee, according to
court filings.

                      About United Charter

United Charter LLC, owner of certain properties in Stockton,
California, filed a Chapter 11 petition (Bankr. E.D. Cal. Case No.
17-22347) on April 7, 2017.  In the petition signed by Raymond
Zhang, its managing member, the Debtor estimated assets and
liabilities ranging from $1 million to $10 million.  

The case is assigned to Judge Ronald H. Sargis.  The Debtor is
represented by Jeffrey J. Goodrich, Esq., at Goodrich &
Associates.

On February 22, 2018, the Debtor filed a disclosure statement,
which explains its proposed Chapter 11 plan of reorganization.


UNITED PLASTIC: $4K Sale of Remnant Assets to Oak Point Approved
----------------------------------------------------------------
Judge William R. Sawyer of the U.S. Bankruptcy Court for the Middle
District of Alabama authorized United Plastic Recycling, Inc. and
United Lands, LLC to sell all their remaining assets, consisting of
known or unknown assets or claims, which have not been previously
sold, assigned, or transferred, to Oak Point Partners, LLC, for
$4,250.

The sale is free and clear of liens, claims, interests and
encumbrances, with such liens, claims, interests, and encumbrances
to attach to the proceeds of the Sale.

The 14-day stay under Bankruptcy Rule 6004(h) is waived.

The Debtor agrees to escrow an amount attributable to the sale to
secure the payment of the chapter 11 quarterly fee obligation
associated therewith.

                 About United Plastic Recycling

United Plastic Recycling, Inc. and affiliate United Lands, LLC,
filed Chapter 11 bankruptcy petitions (Bankr. M.D. Ala. Case No.
15-32928 and 15-32926) on Oct. 16, 2015.  The United Plastic
petition was signed by John A. Bonham, Jr., president.

Judge Dwight H. Williams Jr. was initially assigned to United
Lands' case, while Judge William R. Sawyer presided over United
Plastic's case.  In November 2015, a court order was entered
granting Joint Administration of the two cases before Judge
Sawyer.

United Plastic estimated its assets at up to $50,000, and its
liabilities at between $10 million and $50 million.  United Lands
estimated its assets at up to $50,000 and its liabilities at up
$50,000.

James L. Day, Esq., at Memory & Day, serves as the Debtors'
bankruptcy counsel.


VANTAGE CORP: $500K Sale of All Assets to Sunrise IQ Approved
-------------------------------------------------------------
Judge James R. Sacca of the U.S. Bankruptcy Court for the Northern
District of Georgia authorized Vantage Corp.'s sale of
substantially all assets to Sunrise IQ, LLC, for $500,000.

The sale is free and clear of all interests of any kind or nature
whatsoever, with all such interests of any kind or nature
whatsoever to attach to the net proceeds of the Sale.

This Order constitutes a final and appealable order.
Notwithstanding Bankruptcy Rules 6004(g), 6006(d) and 7062, the
Order shall be effective and enforceable immediately upon entry.

                      About Vantage Corp.

Vantage Corp., Vantage Advisory Management, LLC, VF(x) LP,
TradeLogix, LLC and TradeVue, LLC comprise a family of entities
that develop and utilize proprietary software and technology to
trade and invest in publicly traded securities and commodities.

Vantage Corp., et al., were formed in 2014 after an 30-year
partnership between the debtors' founders developing software in
the trading business for the purposes of obtaining investors and
raising sufficient equity capital to grow and reach the scale
necessary to succeed.

In March 2014, Vantage Corp. was formed as part of an overall
business plan, which included the formation of subsidiaries that
would assist Vantage and its shareholders in generating revenue by
utilizing the proprietary trading software and technology that had
been developed.

TradeVue, LLC, is the entity that has employed the software
developers for the development of the Debtors' proprietary trading
software and technology.  TradeVue has operated the research lab
and software and systems for trading operations and has been
responsible for connectivity, hardware, co-location services,
networking and monitoring of all trading systems.

TradeLogix, LLC, was formed in 2014 expressly to produce trading
results using the proprietary software.

Vantage Advisory Management was formed in 2016 with the intent of
growing the Debtors' money management business by managing a number
of hedge funds and pursuing large joint venture opportunities
utilizing the proprietary trading technology developed.

Formed in 2016, VF(x) LP is a hedge fund that at one point had six
investors.

On May 4, 2018, Chapter 11 petitions were filed by Vantage Corp.
(Bankr. N.D. Ga. 18-57728), Vantage Advisory Management, LLC
(Bankr. N.D. Ga. 18-57731), VF(x) LP (Bankr. N.D. Ga. 18-57735),
TradeLogix, LLC (Bankr. N.D. Ga. 18-57736) and TradeVue, LLC
(Bankr. N.D. Ga. 18-57737).

In the petitions signed by Brian Askew, president, Vantage Corp.
estimated assets and liabilities in the range of $100,000 to
$500,000; and Vantage Advisory Management estimated assets in the
range of $0 to $50,000 and liabilities in the range of $100,000 to
$500,000.

David A. Geiger, Esq., at Geiger Law, LLC, serves as counsel to the
Debtor.


VICTORY OUTREACH: Sale of Real Property Denied Without Prejudice
----------------------------------------------------------------
Judge Frederick E. Clement of the U.S. Bankruptcy Court for the
Eastern District of California denied without prejudice Victory
Outreach Visalia, Inc.'s proposal to sell real property.

               About Victory Outreach Visalia

Victory Outreach Visalia, Inc., is a non-profit organization that
owns in fee simple a church building located at 421 N. Johnson
Street, Visalia, California, valued by the company at $1.04
million.

Victory Outreach Visalia sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. E.D. Cal. Case No. 18-11017) on March 23,
2018.  In the petition signed by Juan Rodriquez, president, the
Debtor disclosed $1.04 million in assets and $734,000 in
liabilities.  Judge Fredrick E. Clement presides over the case.


VON DIRECTIONAL: Committee Taps Haynes and Boone as Legal Counsel
-----------------------------------------------------------------
The official committee of unsecured creditors of Von Directional
Services, LLC seeks approval from the U.S. Bankruptcy Court for the
Southern District of Texas to hire Haynes and Boone, LLP as its
legal counsel.

The firm will advise the committee regarding its duties under the
Bankruptcy Code; represent the committee in its consultations with
the Debtor; investigate the Debtor's operations and financial
condition; advise the committee in its participation in the
negotiation, formulation and drafting of a bankruptcy plan; and
provide other legal services related to its Chapter 11 case.

The firm's standard hourly rates are:

     Partners                $610 - $1,250
     Of Counsel              $425 - $1,050
     Associates              $360 - $725
     Paraprofessionals       $165 - $420

Haynes and Boone has agreed to reduce each attorney's rate by 10%
for its services.

Neither the firm nor its attorneys represent interest adverse to
that of the committee, according to court filings.

Haynes and Boone can be reached through:

     Patrick L. Hughes, Esq.
     Kourtney P. Lyda, Esq.
     Arsalan Muhammad, Esq.
     Haynes and Boone, LLP
     1221 McKinney, Suite 2100
     Houston, TX 77010
     Telephone: (713) 547-2000
     E-mail: patrick.hughes@haynesboone.com
     E-mail: kourtney.lyda@haynesboone.com
     E-mail: arsalan.muhammad@haynesboone.com

                 About Von Directional Services

Von Directional Services, LLC is a privately owned company in the
commercial and industrial machinery and equipment rental and
leasing industry.  The Company provides both equipment and
personnel to oil and gas exploration companies.

Von Directional Services sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. Tex. Case No. 18-33794) on July 9,
2018.  At the time of the filing, the Debtor estimated assets and
debt of $10 million to $50 million.

Melissa Anne Haselden, Esq., at Hoover Slovacek LLP, in Houston,
Texas, serves as counsel to the Debtor.

The Office of the U.S. Trustee appointed an official committee of
unsecured creditors on July 18, 2018.


W. JOSHUA: Voluntary Chapter 11 Case Summary
--------------------------------------------
Debtor: W. Joshua LLC
        160 Tompkins Avenue
        Brooklyn, NY 11206

Business Description: W. Joshua LLC is a real estate company that
                      owns in fee simple a two-family home located
                      at 160 Tompkins Avenue, Brooklyn, New York,
                      valued by the Company at $1.1 million.

Chapter 11 Petition Date: August 8, 2018

Court: United States Bankruptcy Court
       Eastern District of New York (Brooklyn)

Case No.: 18-44593

Judge: Hon. Carla E. Craig

Debtor's Counsel: Bruce Feinstein, Esq.
                  LAW OFFICES OF BRUCE FEINSTEIN
                  86-66 110 Street
                  Richmond Hill, NY 11418
                  Tel: (718) 570-8100
                  E-mail: brucefeinsteinesq@gmail.com

Total Assets: $1,138,600

Total Liabilities: $522,347

The petition was signed by Winston Ellis, CEO.

The Debtor stated it has no unsecured creditors.

A full-text copy of the petition is available for free at:

         http://bankrupt.com/misc/nyeb18-44593.pdf


WARWICK PROPERTIES: $1.2M Sale of Arroyo Grande Property Approved
-----------------------------------------------------------------
Judge Mike K. Nakagawa of the U.S. Bankruptcy Court for the
District of Nevada authorized Warwick Properties, LLC's sale of the
real property located at 2115 Willow Road, Arroyo Grande,
California to Sackley Family Management, LLC, and/or Sackley Family
Trust for $1.2 million.

A hearing on the Motion was held on July 18, 2018 at 9:30 a.m.

The Property includes all building fixtures, improvements located
thereon and all easements and rights benefiting or appurtenant to
the Property including any right title or interest in the bed of
any street, road, highway or alley adjoining the Property.

The sale price is for $1.2 million, with $1.1 million to go to the
Debtor's estate, and used to pay off Creditor's allowed claim in
full out of escrow at closing, including $50,000 to be set aside to
cover rent for a period of time, and $50,000 to Gold Stone Capital
for arranging the sale for the Buyer.  The sale is approved under
the terms and conditions in the Commercial Property Purchase
Agreement along with the Addendum Purchase Contract.

Upon Creditor's claim being paid out of escrow, the Property is
being sold free and clear of all liens.

The escrow fees and other customary and ordinary fees in the
transaction will be paid of escrow.

                   About Warwick Properties

Warwick Properties, LLC, a company based in Henderson, Nevada, owns
a real property located at 2115 Willow Road, Arroyo Grande,
California.  The property is valued by the Debtor at $1.30
million.

Warwick Properties sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Nev. Case No. 17-15065) on Sept. 20,
2017.  In the petition signed by Seth McCormick, managing member,
the Debtor disclosed $1.30 million in assets and $901,752 in
liabilities.  Judge Mike K. Nakagawa presides over the case.


WESTERN GAS: Moody's Rates New Sr. Notes 'Ba1', Outlook Stable
--------------------------------------------------------------
Moody's Investors Service assigned Ba1 ratings to Western Gas
Partners, LP's proposed offering of senior notes due 2028 and 2048.
Proceeds from the new notes will be used to repay revolver
borrowings, refinance August 2018 notes and fund capital
expenditures. All existing ratings of Western Gas, including the
Ba1 Corporate Family Rating, and the stable outlook are unchanged.


"This notes offering refinances maturing notes and pre-funds
planned growth capital expenditures for the second half of 2018,"
commented Pete Speer, Moody's Senior Vice President. "This offering
is consistent with Western Gas' history of maintaining ample
liquidity to fund its growth capital budget."

Assignments:

Issuer: Western Gas Partners, LP

Senior Unsecured Notes, Assigned Ba1 (LGD4)

RATINGS RATIONALE

The new senior notes have been rated Ba1, consistent with the
ratings of Western Gas's existing senior notes. The new notes are
unsecured and have no subsidiary guarantees, consistent with
Western Gas's other senior notes and its committed revolving credit
facility. The senior notes are rated the same as the CFR since all
of the partnership's debts are pari passu.

Western Gas's Ba1 CFR reflects its high proportion of fee-based
revenues that provide cash flow stability, good commodity and basin
diversification, and relatively low financial leverage. The
partnership's direct commodity price exposure is limited and
largely hedged through contracts with Anadarko Petroleum
Corporation (Anadarko, Ba1 stable), but it does have exposure to
fluctuations in production volumes, particularly in its large
gathering business. The partnership has solid growth visibility
from organic projects tied to its operations in the Delaware and DJ
Basins, and future asset acquisitions from Anadarko. While many of
its credit attributes could support a Baa3 rating, Western Gas's
high customer concentration risk with Anadarko combined with
Anadarko's controlling ownership effectively limits its rating to
that of Anadarko's.

Western Gas's financial leverage has risen in the first half of
2018 as its heavy capital spending and recent acquisitions of
ownership interests in two pipelines has increased outstanding
debt. But leverage remains well within the range supportive of the
rating. If the partnership executes on its accelerated earnings
growth over the second half of this year its leverage should remain
below 4x. This notes offering and availability on its $1.5 billion
committed revolving credit facility maturing in February 2023
provides ample liquidity to fund capital spending into 2019.

The outlook is stable, consistent with the stable outlook for
Anadarko's ratings. In order for Western Gas's ratings to be
upgraded to Baa3, Anadarko's ratings must be upgraded to Baa3 or
higher and the partnership will have to sustain its asset and
earnings scale while maintaining its fee-based focus and low
financial leverage.

Western Gas's ratings would likely be downgraded if Anadarko's
ratings were downgraded. The partnership's ratings could also be
downgraded if leverage were to significantly increase because of
debt-funded acquisitions or significant earnings declines from
lower customer production volumes. Debt/EBITDA sustained above 5x
or distribution coverage below 1x could result in a ratings
downgrade.

The principal methodology used in these ratings was Midstream
Energy published in May 2017.

Western Gas (WES) is a publicly traded master limited partnership
(MLP) that provides midstream energy services primarily to Anadarko
Petroleum Corporation as well as other third party oil and gas
producers and customers. Anadarko controls WES through its
ownership of the general partner (GP) of Western Gas Equity
Partners (WGP, unrated), which owns the GP of WES and a meaningful
amount of WES's limited partner (LP) interests.


WESTINGHOUSE ELECTRIC: Landstar Entities Proper Owners of Claims
----------------------------------------------------------------
Bankruptcy Judge Michael E. Wiles sustained Landstar Global
Logistics, Inc., Landstar Inway, Inc., and Landstar Express
America, Inc.'s objections to notices of partial transfers of claim
filed by Whitebox Advisors, LLC, Whitebox Multi-Strategy Partners,
LP and Whitebox Asymmetric Partners, LP.

The disputes relate to three proofs of claim filed in the chapter
11 case of Westinghouse Electric Company LLC, et al. The proofs of
claim were filed by the Landstar entities.

On Feb. 6, 2018, notices of the partial transfers of the three
claims were filed. Collectively, the notices contemplated a full
transfer of each claim but each notice was denominated as a partial
transfer because there were multiple transferees who were involved
with respect to individual claims. The filed transfer notices
included attachments that explained the bases for the transfers.
The attachments asserted that the Landstar entities had offered to
sell the claims and that the offers had been accepted by Seaport
Global Holdings, LLC, which was acting on behalf of an entity named
Whitebox Advisors, LLC, which, in turn, was acting for affiliated
entities named Whitebox Multi-Strategy Partners, LP and Whitebox
Asymmetric Partners, LP.

Whitebox contended in its Feb. 6 transfer notices that a series of
email exchanges gave rise to a "qualified financial contract" under
Section 5-701.b.2(i) of the New York General Obligations Law.
Whitebox argued that the alleged transfer agreement was fully
binding and enforceable based on the email exchanges and without
regard to whether further documentation was signed.

Landstar made a number of arguments in the objection that it filed
on March 15, 2018. First, Landstar contended that there had not
been an offer and an unequivocal acceptance. It contended that the
sale offer identified by Whitebox had not been accepted, but
instead that a counteroffer had been made. Landstar further argued
that the counteroffer substantially altered the economics of the
proposed deal, that it was rejected by Landstar, and that no
contract was formed.

Second, Landstar contended that the parties had made clear in their
discussions that no contract of sale could or would be formed until
the execution of definitive written agreements, and that absent
such written agreements, there was no intent to be bound.

Third, Landstar argued that material terms of a contract, such as
the identities of the actual purchasers and certain economic terms,
had never been agreed upon. Landstar, therefore, objected to the
transfer notices in their entirety and asked the Court to order
Whitebox to withdraw them and to direct the claims agent to
recognize Landstar as the holder of the claims.

In the pretrial order, Whitebox continued to argue that the
parties' exchanges created a fully binding agreement or,
alternatively, that they created a Type II agreement in which the
parties had legally agreed to bind themselves to certain terms and
to negotiate other terms in good faith. It also claims that
Landstar breached this agreement by abandoning the deal rather than
engaging in good faith negotiations.

Whitebox further argued that there are customs in the claims
trading field that they believe call for a different result in this
case. Whitebox argues that it is important that traders be able to
make deals based on emails exchanges and important that parties be
bound by those deals before written documents are signed because
otherwise, according to Whitebox, parties would be free to pull out
of deals just because prices have changed. But if this is truly the
case, the right answer is that Seaport and other parties in this
industry ought to be clear and direct in setting forth their
agreements in the emails they exchange. If Seaport wishes to enter
into partial Type II contracts, it can and should say so
explicitly. If that is its intent, there is no reason why it cannot
say in its emails that "we consider this to be a legally binding
preliminary contract with price already agreed upon and with the
parties obligated legally in good faith to negotiate other terms."

Much of what Whitebox argues, in terms of custom, is not so much a
request that the Court finds that there was an actual preliminary
agreement here; rather, Whitebox asks, due to the needs of the
industry, to impose one upon Landstar, even in the absence of proof
that Landstar itself actually understood that it had entered into a
preliminary agreement. That is not the proper role of a court. The
role of a court is to determine what parties have agreed to and if
they have made an agreement, to enforce it. It is not the role of
the court to impose contracts on parties to which the parties
themselves have not agreed.

Courts have correctly urged caution in finding an intent to form a
preliminary or Type II contract. The Court finds, based on the
evidence, that it is quite clear that there was no intent by either
party to form such a contract in this case. There was a conceptual
agreement as to a purchase price, but there was never a binding
agreement between the parties. The Court, therefore, finds in favor
of Landstar. The transfer notices should be canceled and withdrawn,
and the claims and noticing agent should recognize that Landstar
entities as the proper owners of the claims.

A full-text copy of the Court's Decision dated August 1, 2018 is
available at:

      http://bankrupt.com/misc/nysb17-10751-3706.pdf

Attorneys for Landstar Express America, Inc., Landstar Global
Logistics, Inc., and Landstar Inway, Inc.:

     H. Seiji Newman, Esq.
     Massimo Giugliano, Esq.
     Matthew R. Maddox, Esq.
     DAVIS & GILBERT LLP
     1740 Broadway
     New York, New York 10019
     hnewman@dglaw.com
     mgiugliano@dglaw.com
     mmaddox@dglaw.com

Attorneys for Whitebox Advisors LLC, Whitebox Multi- Strategy
Partners, LP, and Whitebox Asymmetric Partners, LP:

     James H. Millar, Esq.
     Clay J. Pierce, Esq.
     Brian P. Morgan, Esq.
     DRINKER BIDDLE & REATH LLP
     1177 Avenue of the Americas
     New York, New York 10036
     james.millar@dbr.com
     clay.pierce@dbr.com
     brian.morgan@dbr.com

                 About Westinghouse Electric

Westinghouse Electric Company LLC --
http://www.westinghousenuclear.com/-- is a U.S.-based nuclear
power company founded in 1999 that provides design work and
start-up help for new nuclear power plants and makes many of the
components.  Westinghouse manufactures and supplies the commercial
fuel products needed to run the plants, and it offers training,
engineering, maintenance, and quality management services.  Almost
50% of nuclear power plants around the world and about 60% of U.S.
plants are based on Westinghouse's technology.  Westinghouse's
world headquarters are located in the Pittsburgh suburb of
Cranberry Township, Pennsylvania.

On Oct. 16, 2006, Westinghouse Electric was sold for $5.4 billion
to a group comprising of Toshiba (77% share), partners The Shaw
Group (20% share), and Ishikawajima-Harima Heavy Industries Co.
Ltd. (3% share).  After purchasing part of Shaw's stake in 2013,
Japan-based conglomerate Toshiba obtained ownership of 87% of
Westinghouse.

Amid cost overruns at U.S. nuclear reactors it was building,
Westinghouse Electric Company LLC, along with 29 affiliates, filed
voluntary petitions for relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D.N.Y. Case No. 17-10751) on March 29,
2017.  The petitions were signed by AlixPartners' Lisa J. Donahue,
the Debtors' chief transition and development officer.

The Debtors disclosed total assets of $4.32 billion and total
liabilities of $9.39 billion as of Feb. 28, 2017.

The Hon. Michael E. Wiles presides over the cases.

Weil, Gotshal & Manges LLP serves as counsel to the Debtors.  The
Debtors hired AlixPartners LLP as financial advisor; PJT Partners
Inc. as investment banker; Kurtzman Carson Consultants LLC as
claims and noticing agent; K&L Gates as special counsel; and KPMG
LLP as tax consultant and accounting and financial reporting
advisor.

The Debtors retained PricewaterhouseCoopers LLP as independent
auditor and tax services provider to perform audit services in
connection with Toshiba Nuclear Energy Holdings (US) Inc. and
Toshiba Nuclear Energy Holdings (UK) Ltd.

Toshiba Nuclear Energy Holdings (UK) Ltd. is represented by Albert
Togut, Esq., Brian F. Moore, Esq., and Kyle J. Ortiz, Esq., at
Togut, Segal & Segal LLP.

The Board of Directors of Westinghouse appointed a special panel
called the U.S. AP1000 Committee to oversee the company's
activities related to certain AP1000 nuclear plants located in
Georgia and South Carolina.

On April 7, 2017, the Office of the U.S. Trustee appointed an
official committee of unsecured creditors.  Proskauer Rose LLP is
the committee's bankruptcy counsel, and Houlihan Lokey Capital,
Inc., serves as its investment banker.


WESTMORELAND COAL: Reports $186.1 Million Second Quarter Net Loss
-----------------------------------------------------------------
Westmoreland Coal Company has filed with the Securities and
Exchange Commission its Quarterly Report on Form 10-Q reporting a
net loss applicable to common shareholders of $186.06 million on
$276.31 million of revenues for the three months ended June 30,
2018, compared to a net loss applicable to common shareholders of
$46.14 million on $327.31 million of revenues for the three months
ended June 30, 2017.

For the six months ended June 30, 2018, the Company reported a net
loss applicable to common shareholders of $205.65 million on
$571.98 million of revenues compared to a net loss applicable to
common shareholders of $75.76 million on $674.32 million of
revenues for the same period during the prior year.

As of June 30, 2018 the Company had $1.45 billion in total assets,
$2.14 billion in total liabilities and a total deficit of $686.18
million.

           Going Concern, Liquidity and Management's Plan

The Company stated in the Quarterly Report that, "We have
significant cash requirements to fund our debt obligations, ongoing
heritage health benefit costs, pension contributions and corporate
overhead expenses.  Our consolidated cash and cash equivalents
balance as of June 30, 2018 was $63.2 million. However, this
balance includes cash and cash equivalents of $28.2 million at WMLP
as of June 30, 2018 that are restricted and unavailable to WCC.
Our consolidated cash and cash equivalents balance includes
proceeds of the initial draw on our Bridge Loan, which pursuant to
such transaction we negotiated Forbearances of certain of our debt
covenants and restrictions from greater than 75% of our lenders and
note holders under our Term Loan and 8.75% Notes, respectively.

"The impacts of declining industry conditions and significant debt
service requirements on the Company's financial position, results
of operations and cash flows gives rise to substantial doubt about
our ability to pay our obligations as they come due.  In
consideration of these challenges, the Company has engaged advisers
to assist with the evaluation of strategic alternatives, which may
include seeking a restructuring, selling certain assets, amendment
or refinancing of existing debt through a private restructuring or
reorganization under Chapter 11 of the Bankruptcy Code.  However,
there can be no assurances that the Company will be able to
successfully restructure its indebtedness, improve its financial
position or complete any strategic transactions.  As a result of
these uncertainties and the likelihood of a restructuring or
reorganization, management has concluded that there is substantial
doubt regarding the Company's ability to continue as a going
concern.."

On May 21, 2018, the Company entered into the Bridge Loan agreement
which provided an additional $110 million term loan, consisting of
an initial funding of $90 million and an undrawn delayed draw
funding of up to $20 million.  Approximately $48.5 million of the
initial $90 million in proceeds of the Bridge Loan was used to
extinguish in full the Company's Revolver and San Juan Loan.  The
remaining proceeds will be used to fund working capital.  The
extinguishment of the San Juan Loan has eliminated certain previous
restrictions and now operating cash flows generated at the San Juan
mine are available for use by the Company.  The Bridge Loan has a
maturity date of May 21, 2019.

Concurrently with the execution of the Bridge Loan on May 21, 2018,
the Company entered into a forbearance agreement with greater than
75% of note holders of the Company's 8.75% Notes in which the
Supporting Note Holders agreed to forbear from exercising certain
rights and remedies under the Indenture or the related security
documents until the earlier of a) Sept. 30, 2018, or b) a
termination event.  Additionally, the Company entered into a fourth
amendment to its Term Loan Credit Agreement, greater than 75% of
the lenders thereunder agreed to forbear from exercising certain
rights and remedies under the Term  Loan Credit Agreement or the
related security documents until the earlier of a)
Sept. 30, 2018, or b) a termination event (as defined in such
agreement).

Pursuant to the forbearing of rights and remedies of Term Loan
lenders and 8.75% Notes holders upon the non-payment of principal
and interest when due, as more particularly described in the
Forbearances, on June 29 and July 2, 2018, respectively, the
Company elected to defer a scheduled interest and principal payment
of $8.0 million on the Term Loan and a scheduled interest payment
of $15.3 million on the 8.75% Notes.  In accordance with the
Forbearances, the Supporting Note Holders and the Supporting
Lenders may not deliver any notice or instruction to the respective
trustee or administrative agent to exercise any rights or remedies
as a result of the Company's election to defer these interest and
principal payments during the forbearance period.

A full-text copy of the Form 10-Q is available for free at:

                       https://is.gd/rnQwkQ

                     About Westmoreland Coal

Based in Englewood, Colorado, Westmoreland Coal Company --
http://www.westmoreland.com/-- is an independent coal company
based in the United States.  The Company produces and sells thermal
coal primarily to investment grade utility customers under
long-term, cost-protected contracts.  Its focus is primarily on
mine locations which allow it to employ dragline surface mining
methods and take advantage of close customer proximity through
mine-mouth power plants and strategically located rail
transportation.  At Dec. 31, 2017, the Company's U.S. coal
operations were located in Montana, Wyoming, North Dakota, Texas,
New Mexico and Ohio, and its Canadian coal operations were located
in Alberta and Saskatchewan.  The Company sold 49.7 million tons of
coal in 2017.

Westmoreland Coal reported a net loss applicable to common
shareholders of $71.34 million for the year ended Dec. 31, 2017, a
net loss applicable to common shareholders of $27.10 million for
the year ended Dec. 31, 2016, and a net loss applicable to common
stockholders of $213.6 million for the year ended Dec. 31, 2015.
As of March 31, 2018, Westmoreland Coal had $1.63 billion in total
assets, $2.12 billion in total liabilities and a total deficit of
$489.7 million.

Ernst & Young LLP's audit opinion included in the company's Annual
Report on Form 10-K for the year ended Dec. 31, 2017 contains a
going concern explanatory paragraph stating that the Company has a
substantial amount of long-term debt outstanding, is subject to
declining industry conditions that are negatively impacting the
Company's financial position, results of operations, and cash
flows, and has stated that substantial doubt exists about the
Company's ability to continue as a going concern.

                          *     *     *

In April 2018, Moody's Investors Service downgraded the ratings of
Westmoreland Coal Company, including its corporate family rating
(CFR) to 'Caa3' from 'Caa1'.  According to Moody's, the downgrade
reflects the company's weak liquidity position, due to the
near-term maturity of its term loan.

In June 2018, S&P Global Ratings lowered its issuer credit rating
on Westmoreland Coal to 'D' from 'SD'.  The downgrade incorporates
WCC's forbearance agreement.  Under S&P's criteria, forbearance
agreements related to missing payments without appropriate
compensation constitute a default.


WOODBRIDGE GROUP: Unsecs. to Recoup 60%-70% Under Liquidation Plan
------------------------------------------------------------------
Woodbridge Group of Companies, LLC, and its affiliated debtors
filed a disclosure statement for its first amended joint chapter 11
plan of liquidation dated August 3, 2018.

The Debtors' bankruptcy cases arise out of a massive, multi-year
fraudulent scheme perpetrated by Robert Shapiro between 2012 and
2017. As part of this fraud, Shapiro, through the Woodbridge
entities, raised over one billion dollars from approximately 10,000
investors--as either Noteholders or Unitholders--and used
approximately $368 million of new investor funds to pay existing
investors--a typical characteristic of Ponzi schemes. Importantly,
Shapiro is no longer involved in any capacity with the control of
the Debtors or of the bankruptcy cases.

The Debtors have worked diligently to maximize investor recoveries.
To that end, the Plan provides for the creation of two entities:
(i) a Wind-Down Entity, which will own many of the Debtors' assets
(including the Debtors' real properties) and will sell those assets
to generate cash, and (ii) a Liquidation Trust, which will own the
Wind-Down Entity and receive cash generated by the Wind-Down Entity
and will distribute that (and other) cash to creditors (including
to investors). The Liquidation Trust will also own litigation
claims against third parties and may generate cash through
prosecution or settlement of those claims. However, the estimated
recoveries to creditors do not take into account potential proceeds
of these litigation claims because they are unpredictable and
highly contingent.

Critically, the Debtors have ensured that creditors have indirect
control over the decisions that will be made by the Liquidation
Trust. The proposed Liquidation Trustee, Mr. Michael Goldberg, was
the SEC's designee to, and is a current member of, the Debtors' New
Board of Managers, and he was unanimously selected to be the
Liquidation Trustee by the Unsecured Creditors' Committee, the
Noteholder Committee, and the Unitholder Committee. In addition,
the Liquidation Trust Supervisory Board will consist of five
members--three selected by the Unsecured Creditors' Committee, and
one each selected by the Noteholder Committee and the Unitholder
Committee.

Cash will be distributed by the Liquidation Trust to Noteholders,
Unitholders, and other creditors both up-front and over time.
Noteholders, Holders of General Unsecured Claims, and Unitholders
initially will be paid at the same time by each receiving Class A
Liquidation Trust Interests that entitle them to cash
distributions. But, the settlement addresses the disputes regarding
whether the Units actually are "claims," or instead are "equity"
(ownership interests) in the Debtors (in which case Unitholders
could be entitled to be paid nothing), and whether the Notes are
validly secured (either directly or indirectly) by the subject real
properties. Rather than spend significant time and money litigating
these very complicated issues, the parties negotiated and settled
upon allowance of claims for Unitholders at a 27.5% discount as
compared to Noteholders' claims. Thus, Unitholders will initially
receive 72.5% of what Noteholders receive in terms of relative
distributions against their respective net investments. This aspect
of the settlement is accomplished by affording Noteholders Class A
Liquidation Trust Interests for 100% of their Net Note Claims and
affording Unitholders Class A Liquidation Trust Interests for only
72.5% of their Net Unit Claims. (Unitholders also get Class B
Liquidation Trust Interests for the other 27.5% of their Net Unit
Claims, so that if there is more money available after payment of
the Net Note Claims, Allowed General Unsecured Claims, and Net Unit
Claims represented by the Class A Liquidation Trust Interests, then
Unitholders will receive cash distributions on their Class B
Liquidation Trust Interests until the remaining Net Unit Claims are
paid.)

Further, the Plan provides for "substantive consolidation" of all
Woodbridge Fund Debtors into one entity and all other Debtors into
a second entity in order to effectuate the distributions explained
above. Substantive consolidation generally refers to the pooling of
assets and liabilities of several entities. In other words, if
Entity A holds $100 of assets and owes $0 of liabilities, and
Entity B holds $0 of assets and owes $100 of liabilities, and if
those two entities are substantively consolidated, the resulting
entity will hold $100 of assets and owe $100 of liabilities.

The Debtors estimate the following recoveries for Noteholders and
Unitholders (and general unsecured creditors) under the Plan:

     Class 3 Standard Note Claims                   60%-70% of Net
Amounts
     Class 4 General Unsecured Claims               60%-70% of
Allowed Amounts
     Class 5 Unit Claims                            40%-50% of Net
Amounts
     Class 6 Non-Debtor Loan Note Claims            60%-70% of Net
Amounts

The Debtors regret the circumstances, and understand the precarious
financial position that many investors are in as a result of
Shapiro's fraudulent scheme and its sudden collapse last December.
However, the Debtors believe that the settlement, which is the
result of extensive negotiations with significant investor input,
represents the best outcome of the unfortunate circumstances, and
importantly, provides the best prospect for investors to receive
distributions as soon as possible.

A full-text copy of the Disclosure Statement dated August 3, 2018
is available at:

     http://bankrupt.com/misc/deb17-12560-2284.pdf

A redlined version of the First Amended Disclosure Statement is
available at:

     http://bankrupt.com/misc/deb17-12560-2286.pdf

A full-text copy of the Disclosure Statement dated July 9, 2018, is
available at:

     http://bankrupt.com/misc/deb17-12560-2139.pdf

                  About Woodbridge Group

Headquartered in Sherman Oaks, California, The Woodbridge Group
Enterprise -- http://www.woodbridgecompanies.com/-- is a
comprehensive real estate finance and development company.  Its
principal business is buying, improving, and selling high-end
luxury homes.  The Woodbridge Group Enterprise also owns and
operates full-service real estate brokerages, a private investment
company, and real estate lending operations.  The Woodbridge Group
Enterprise and its management team have been in the business of
providing a variety of financial products for more than 35 years,
and have been primarily focused on the luxury home business for the
past five years.  Since its inception, the Woodbridge Group
Enterprise has completed more than $1 billion in financial
transactions.  These transactions involve real estate, note buying
and selling, hard money lending, and alternative financial
transactions involving thousands of investors.

Woodbridge Group of Companies and certain of its affiliates filed
Chapter 11 bankruptcy petitions (Bankr. D. Del. Lead Case No.
17-12560) on Dec. 4, 2017.  Woodbridge estimated assets and
liabilities at between $500 million and $1 billion.  The Chapter 11
cases are being jointly administered.

Judge Kevin J. Carey presides over the case.

Samuel A. Newman, Esq., Oscar Garza, Esq., Daniel B. Denny, Esq.,
Jennifer L. Conn, Esq., Eric J. Wise, Esq., Matthew K. Kelsey,
Esq., and Matthew P. Porcelli, Esq., at Gibson, Dunn & Crutcher,
LLP, and Sean M. Beach, Esq., Edmon L. Morton, Esq., Ian J.
Bambrick, Esq., and Allison S. Mielke, Esq., at Young Conaway
Stargatt & Taylor, LLP, serve as the Debtors' bankruptcy counsel.
Homer Bonner Jacobs, PA, as special counsel, Province, Inc., as
expert consultant, Moelis & Company LLC, as investment banker.

The Debtors' financial advisors are Larry Perkins, John Farrace,
Robert Shenfeld, Reece Fulgham, Miles Staglik, and Lissa Weissman
at SierraConstellation Partners, LLC.  Beilinson Advisory Group is
serving as independent management to the Debtors.  Garden City
Group, LLC, is the Debtors' claims and noticing agent.

Pachulski Stang Ziehl & Jones is counsel to the Official Committee
of Unsecured Creditors; and FTI Consulting, Inc., serves as its
financial advisor.

An official committee of unsecured creditors was appointed in the
Chapter 11 cases on Dec. 14, 2017.  On Jan. 23, 2018, the Court
approved a settlement providing for the formation of an ad hoc
noteholder group and an ad hoc unitholder group.


WWEX UNI: S&P Raises Issuer Credit Rating to 'B', Outlook Negative
------------------------------------------------------------------
S&P Global Ratings raised its issuer credit rating on
Dallas–based WWEX UNI Intermediate Holdings LLC to 'B' from 'B-'.
The outlook is negative.

S&P said, "At the same time, we affirmed our 'B' issue-level rating
on WWEX's $60 million revolving credit facility due in 2022 and
upsized first-lien term loan due in 2024, issued by subsidiaries
REP WWEX Blocker LLC and SMB Shipping Logistics, LLC. The recovery
rating is '3', indicating our expectation for meaningful (50%-70%;
rounded estimate: 60%) recovery of principal in the event of
payment default.

"In addition, we affirmed our 'CCC+' issue-level rating on WWEX's
second-lien term loan due in 2025, also issued by REP WWEX Blocker
and SMB Shipping Logistics. The recovery rating is '6', indicating
our expectation for negligible (0%-10%; rounded estimate: 0%)
recovery of principal in the event of payment default.

"The upgrade reflects the decrease compared to our previously
expected 2018 leverage given that the company did not complete its
proposed dividend recapitalization transaction. Through both
acquisition and organic growth, along with integration initiatives,
we believe WWEX will increase earnings and reduce adjusted leverage
to the 6x area by year-end 2018 (versus our prior expectation of
over 7x debt to EBITDA). Although our base-case forecast no longer
assumes a debt-financed dividend in 2018, the negative outlook
reflects our view that future debt-financed shareholder returns or
acquisitions could deteriorate credit measures. We also see the
potential for leverage to increase if expenses related to the
company's franchise acquisition strategy pressure its EBITDA
margins below 10%.

"The negative outlook on WWEX UNI reflects our view that debt
balances and leverage will likely be somewhat higher than our
expectations from earlier this year due to recent debt financed
acquisitions, with adjusted debt to EBITDA about 6x at year-end
2018. This is despite good end-market demand and earnings
contributions from past acquisitions, as well as our expectation
for increasing profitability as a result of cost-saving initiatives
for the combined company.

"We could lower our rating on WWEX UNI in the next 12 months if the
company pursues debt-financed shareholder returns or acquisitions
that bring sustained debt to EBITDA above 6.5x. Leverage could also
increase if various expenses related to the company's franchise
acquisition strategy pressure its EBITDA margins below 10%.
Although not expected, this could also occur if industry
competitive dynamics shift such that WWEX cannot honor its
agreement with UPS.

"Over the next 12 months, we could revise our outlook to stable if
the company generates higher-than-expected cash flow, causing its
FFO-to-debt ratio to improve toward 12% while leverage approaches
5x on a sustained basis. This could occur because of
stronger-than-expected revenue and cash flow that allows management
to use greater-than-expected free cash flow for debt reduction."



[*] Discounted Tickets for 2018 Distressed Investing Conference!
----------------------------------------------------------------
Discounted tickets for Beard Group, Inc.'s Annual Distressed
Investing 2018 Conference are available if you register by August
31.  Your cost will be $695, a $200 savings.

Visit https://www.distressedinvestingconference.com/ for
registration details and information about this year's conference
agenda as well as highlights from past conferences.

Now on its 25th year, Beard Group's annual Distressed Investing
conference is the oldest and most established New York
restructuring conference.  The day-long program will be held
Monday, November 26, 2018, at The Harmonie Club, 4 E. 60th St. in
Midtown Manhattan.

For a quarter century, the focus of the conference has been on
"Maximizing Profits in the Distressed Debt Market."  The event also
serves as a forum for leaders in corporate restructuring, lending
and debt and equity investments to gather and discuss the latest
topics and trends in the distressed investing industry, as well as
exchange ideas about high-profile chapter 11 bankruptcy proceedings
and out-of-court restructurings.  They are distinguished
professionals who place their resources and reputations at risk to
produce stellar results by preserving jobs, rebuilding broken
businesses, and efficiently redeploying underutilized assets in the
marketplace.

This year's conference will also feature:

     * A luncheon presentation of the Harvey K Miller Award to
       Edward I. Altman, Professor of Finance, Emeritus, New York
       University's Stern School of Business.  (The award will be
       presented by last year's winner billionaire Marc Lasry,
       Altman's  former student.)

     * Evening awards dinner recognizing the 12 Outstanding
       Restructuring Lawyers

To learn how you can be a sponsor and participate in shaping the
day-long program, contact:

           Bernard Tolliver at bernard@beardgroup.com
                  or Tel: (240) 629-3300 x-149

To learn about media sponsorship opportunities to bring your outlet
into the view of leaders in corporate restructuring, lending and
debt and equity investments, and to expand your network of news
sources, contact:

                Jeff Baxt at jeff@beardgroup.com
                   or (240) 629-3300, ext 150

Beard Group, Inc., publishes Turnarounds & Workouts, Troubled
Company Reporter, and Troubled Company Prospector.  Visit
http://bankrupt.com/freetrial/for a free trial subscription to one
or more of Beard Group's corporate restructuring publications.


[^] BOOK REVIEW: AS WE FORGIVE OUR DEBTORS
------------------------------------------
Authors: Teresa A. Sullivan, Elizabeth Warren,
& Jay Westbrook
Publisher: Beard Books
Softcover: 370 Pages
List Price: $34.95
Review by: Susan Pannell
Order your personal copy today at
http://www.beardbooks.com/beardbooks/as_we_forgive_our_debtors.html

So you think you know the profile of the average consumer debtor:
either deadbeat slouched on a sagging sofa with a three day growth
on his chin or a crafty lower-middle class type opting for
bankruptcy to avoid both poverty and responsible debt repayment.

Except that it might be a single or divorced female who's the one
most likely to file for personal bankruptcy protection, and her
petition might be the last stage of a continuum of crises that
began with her job loss or divorce.  Moreover, the dilemma might be
attributable in part to consumer credit industry that has increased
its profitability by relaxing its standards and extending credit to
almost anyone who can scribble his or her name on an application.

Such are among the unexpected findings in this painstaking study of
2,400 bankruptcy filings in Illinois, Pennsylvania, and Texas
during the seven-year period from 1981 to 1987.  Rather than
relying on case counts or gross data collected for a court's
administrative records, as has been done elsewhere, the authors use
data contained in the actual petitions. In so doing, they offer a
unique window into debtors' lives.

The authors conclude that people who file for bankruptcy are, as a
rule, neither impoverished families nor wily manipulators of the
system. Instead, debtors are a cross-section of America.  If one
demographic segment can be isolated as particularly debtprone, it
would be women householders, whom the authors found often live on
the edge of financial disaster. Very few debtors (3.7 percent in
the study) were repeat filers who might be viewed as abusing the
system, and most (70 percent in the study) of Chapter 13 cases fail
and become Chapter 7s.  Accordingly, the authors conclude that the
economic model of behavior -- which assumes a petitioner is a
"calculating maximizer" in his in his decision to seek bankruptcy
protection and his selection of chapter to file under, a profile
routinely used to justify changes in the law -- is at variance with
the actual debtor profile derived from this study.

A few stereotypes about debtors are, however, borne out.  It is
less than surprising to learn, for example, that most debtors are
simply not as well-off as the average American or that while
bankrupt's mortgage debts are about average, their consumer debts
are off the charts. Petitioners seem particularly susceptible to
the siren song of credit card companies.  In the study sample,
creditors were found to have made between 27 percent and 36 percent
of their loans to debtors with incomes below $12,500 (although the
loans might have been made before the debtors' income dropped so
low). Of course, the vigor with which consumer credit lenders
pursue their goal of maximizing profits has a corresponding impact
on the number of bankruptcy filings.

The book won the ABA's 1990 Silver Gavel Award.  A special 1999
update by the authors is included exclusively in the Beard Book
reprint edition.


                            *********

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 2018.  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
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The TCR subscription rate is $975 for 6 months delivered via
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are $25 each.  For subscription information, contact Peter A.
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