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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

          Thursday, December 19, 2013, Vol. 17, No. 351

                            Headlines

ABERDEEN LAND: Wants Until March 28 to Solicit Plan Votes
ABERDEEN LAND: Court Denies U.S. Bank et al.'s Case Dismissal Bid
ADAYANA INC: May Use AVX's Cash Collateral Thru Jan. 14
ADAYANA INC: Okayed to Sell All Assets to EVX Learning
AFFINION GROUP: S&P Lowers CCR to 'SD' on Completed Debt Exchange

AIR MEDICAL: S&P Rates Proposed $55-Mil. Secured Term Loan 'B'
ALASKA AIR: S&P Raises CCR to 'BB+' & Removes Rating from Watch
ALFA GENERAL: Case Summary & 19 Largest Unsecured Creditors
ALLENS INC: Seneca Foods Signs to Buy Firm for $148 Million
AMERICAN AIRLINES: Analyst Says Old $11 Stock Is Now Worth $17

AMERICAN PATRIOT: U.S. Trustee Appoints 3-Member Creditors Panel
AMPAL-AMERICAN: Court Rejects Ex-Officers' Bid for Damages
ARI-RC 6: 2nd and 3rd Wave Debtors Okayed to Use Cash Collateral
ASR CONSTRUCTORS: May Hire Delmar as Real Estate Broker
ASR CONSTRUCTORS: Can Tap Lester & Cantrell as Litigation Counsel

ASR CONSTRUCTORS: May Employ Shulman Hodges as Bankruptcy Counsel
BELLFLOWER, CA: S&P Revises 2002A Bond Rating Outlook to Stable
BROWN SHOE: S&P Hikes Corp. Credit Rating to B+ on Debt Repayment
CITGO PETROLEUM: S&P Lowers CCR to 'B' After Parent Downgrade
COASTAL CONDOS: First Equitable Realty Defends Case Dismissal Bid

COLE GARDENS: 66-Unit Apartment to Be Sold at Auction on Jan. 15
CORNERSTONE HOMES: Panel Balks at Exclusivity Extension
COYOTE MOON: Voluntary Chapter 11 Case Summary
CROWN CASTLE: S&P Raises Unsecured Notes Rating to BB-, Off Watch
D & L ENERGY: May Sell All Assets to RLH for $20.7MM

DETROIT, MI: Opens Trial on Taking Loan to Terminate Swap Contract
DIGITAL DOMAIN: Forbearance Period Under DIP Loan Expires Jan. 17
DIVERSINET CORP: Common Shares Delisted Following Liquidation
DUNLAP OIL: Bank Defends Chapter 7 Conversion Bid
EXCEL MARITIME: Reports $4 Million November Operating Income

FLETCHER INT'L: Jan. 14 Hearing on Adequacy of Plan Outline
FOX & HOUND: Jan. 7 Hearing on Auction Rules for Restaurants
FOX & HOUND: Proposes $9.6-Mil. DIP Financing from GE Capital
FOX & HOUND: Seeks to Reject Leases for 24 Closed Restaurants
FOX & HOUND: Taps Epiq as Claims & Noticing Agent

FRESH & EASY: Jan. 22 Set as Claims Bar Date
GENERAL MOTORS: U.S. Vice President of Chevrolet Marketing Resigns
GULFCO HOLDING: Creditors' Meeting Scheduled for Jan. 3
IKARIA INC: S&P Lowers CCR to 'B-' & Removes Rating From Watch
IMMUCOR INC: S&P Revises Outlook on 'B+' CCR to Negative

INT'L FOREIGN EXCHANGE: Hires Logan & Company as Admin Advisor
ISRA DEVELOPMENT: Case Summary & 5 Largest Unsecured Creditors
KENAN ADVANTAGE: S&P Rates New $76-Mil. Tranche D Term Loan 'BB-'
KKR FINANCIAL: S&P Puts 'BB' Preferred Stock Rating on Watch Pos.
LIC CROWN: Urges Court to Approve Disclosure Statement

LIGHTSQUARED INC: Adjourns One Dot Auction to Dec. 19
LILY GROUP: Can Hire Tucker Hester as Attorneys
LILY GROUP: Files Schedules of Assets and Liabilities
LOEHMANN'S HOLDINGS: Wins Jan. 28 Extension for Schedules
LOEHMANN'S HOLDINGS: Has Epiq as Claims & Noticing Agent

LOEHMANN'S HOLDINGS: Sales to Begin One Week Later Than Planned
LOUISIANA HOUSING: S&P Affirms 'BB' Rating on 2009A & 2009B Bonds
MEI CONLUX: S&P Withdraws 'B' Corporate Credit Rating
MSI CORP: Dec. 23 Hearing on Stipulation to Use Cash Collateral
MW GROUP: Can Use Bank of America's Cash Collateral Until March 31

MW GROUP: Jan. 29 Hearing on Rival Disclosure Statements
NCL CORP: S&P Revises Outlook to Positive & Affirms 'BB-' CCR
NEWLEAD HOLDINGS: Completes Acquisition of Coal Wash Plant
NORTEL NETWORKS: Settlement Simplifies Issues on Allocation Trial
NORTH TEXAS BANCSHARES: Olney Bancshares Buys Park Cities Bank

OCEAN 4660: Lauderdale Beachside Hotel Auctions for $17 Million
PATRIOT COAL: Settlement Agreement with Peabody Takes Effect
PATRIOT COAL: Emerges From Chapter 11 Reorganization
PEM THISTLE: Case Summary & 18 Largest Unsecured Creditors
PHYSIOTHERAPY HOLDINGS: Nearing Court Approval of Plan

PEREGRINE FINANCIAL: Court Approves Distribution to Customers
PREMIERE HOSPITALITY: Court Rejects Chapter 11 Plan
PRIMARIA CAPITAL: In Default of CNSX Requirements
RESIDENTIAL CAPITAL: Affiliate Sues UBS on Faulty Home Mortgages
RG STEEL: Court Approves Deal Over Release of Collateral

RG STEEL: Asks Court to Allow SPGS to Provide Additional Services
RURAL/METRO CORP: Plan Confirmed After Creditor Settlement
SCICOM DATA: Taps Judge George McGunnigle as Mediator
SENTINEL MANAGEMENT: Trustee Wants $337 Million Back in Escrow
SERVICENTRO CIALES: Case Summary & 9 Unsecured Creditors

SHILO INN, TWIN FALLS: Plan Outline Hearing Continued to Jan. 23
ST. FRANCIS' HOSPITAL: Case Summary & 30 Top Unsecured Creditors
SUNTECH POWER: Directors Fan, King Step Down From Board
SUNTECH POWER: European Unit Granted Payment Moratorium
SUSIE CORPORATION: Voluntary Chapter 11 Case Summary

TLC HEALTH NETWORK: Hospital in Upstate New York Files Chapter 11
TREEHOUSE FOODS: S&P Assigns Prelim BB- Rating on Sr. Unsec. Debt
VELTI INC: No Competition for Blackstone in Buying Firm
WALKER LAND: Can Employ Maynes Taggart as Bankruptcy Counsel
WASHINGTON MUTUAL: J.P. Morgan Chase Sues FDIC

WENTWOOD BAYTOWN: Wants Final Decree Issued Before Dec. 31
WOLF MOUNTAIN: Section 341(a) Meeting Scheduled for Jan. 15
WVSV HOLDING: Initial Plan Confirmation Hearing Reset for Jan. 7
YAHOO! INC: S&P Assigns Unsolicited 'BB+' CCR; Outlook Stable

* Bankruptcy Judges Peck and Gropper to Retire

* National Credit Default Rates Remain Stable in November 2013
* SAC's Steinberg Convicted in Insider-Trading Case

* Snell & Wilmer Elects 15 New Partners

* Recent Small-Dollar & Individual Chapter 11 Filings


                            *********


ABERDEEN LAND: Wants Until March 28 to Solicit Plan Votes
---------------------------------------------------------
Aberdeen Land II, LLC, asks the U.S. Bankruptcy Court for the
Middle District of Florida to extend until March 28, 2014, its
exclusive period to solicit acceptances for the Plan of
Reorganization, as amended.

On Oct. 17, the Court approved the Second Amended Disclosure
Statement for the Second Amended Plan.  The Second Amended Plan is
dated Oct. 11, 2013.

Absent the extension, the Debtor's solicitation period will expire
on Dec. 28, 2013.

The Debtor said the proposed extension of the solicitation period
is justified and appropriate under the circumstances given that
the confirmation hearing and corresponding deadlines have been
extended to April 2014.

                     About Aberdeen Land II

Aberdeen Land II, LLC, doing business as Aberdeen, owns
a 1,316-acre master- planned community near Jacksonville, Florida.
The project is designed for 1,623 single-family homes and 395
multi-family units.  More than 1,000 units have been sold, leaving
Aberdeen with 856 undeveloped lots and 28.1 acres zoned for
commercial or residential use.

Aberdeen filed a Chapter 11 petition (Bankr. M.D. Fla. Case No.
13-04103) on July 1, 2013, in Jacksonville, Florida.  The Debtor
has tapped Genovese Joblove & Battista, P.A., as counsel, Kapila &
Company as accountant, Kellerhals Ferguson Fletcher Kroblin, PLLC,
as special counsel, and Fishkind & Associates as expert
consultants.

Aberdeen owes $24 million in bonds that financed the project and
more than $20 million to secured lenders with mortgages on the
property.

In its amended schedules, the Debtor disclosed $41,165,861 in
assets and $31,189,704 in liabilities as of the petition date.


ABERDEEN LAND: Court Denies U.S. Bank et al.'s Case Dismissal Bid
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of Florida
denied the motion to dismiss the Chapter 11 case of Aberdeen Land
II, LLC.

As reported in the Troubled Company Reporter on Dec. 2, 2013,
BBX Capital Asset Management, LLC, opposed the (I) Joint Motion to
Dismiss Bankruptcy Case, filed Sept. 24, 2013, and (II) Joint
Motion for Relief from the Automatic Stay, filed Sept. 25, 2013,
by Aberdeen Community Development District and indenture trustee
U.S. Bank, N.A.

BBX, which is unaffiliated with the Debtor, asserts the Debtor
should be afforded an opportunity to pursue confirmation of its
Plan.  Thus, according to BBX, the Joint Motions should be denied.

BBX says it supports the Debtor's efforts to reorganize and pursue
confirmation of its proposed plan, and for that reason, it entered
into a Plan Support Agreement with the Debtor.  "It appears the
Debtor has acted expediently to move towards confirmation of its
Plan as soon as reasonably practicable for the benefit of all
interested parties.  Providing the Debtor an opportunity to seek
confirmation in two months should not prejudice the Movants."

"BBX's proof of claim (POC #6) notes that the Debtor was indebted
to BBX as of the Petition Date in the amount of $16,857,764.90
pursuant to Note B and Note C.  While Note B has since been paid,
resulting in Note C being forgiven, BBX retains a right to share
in a portion of Lot sale proceeds going forward.  As such, BBX
agreed, in accordance with the Plan Support Agreement to accept
certain amounts in resolution of the Debtor's remaining
obligations to BBX -- i.e. between $2.6MM and $4.16MM, depending
on when the Debtor paid the release price."

A copy of BBX'S Response and Opposition to the Joint Motions is
available at http://bankrupt.com/misc/aberdeenland.doc92.pdf

                     About Aberdeen Land II

Aberdeen Land II, LLC, doing business as Aberdeen, owns a 1,316-
acre master- planned community near Jacksonville, Florida.  The
project is designed for 1,623 single-family homes and 395 multi-
family units.  More than 1,000 units have been sold, leaving
Aberdeen with 856 undeveloped lots and 28.1 acres zoned for
commercial or residential use.

Aberdeen filed a Chapter 11 petition (Bankr. M.D. Fla. Case No.
13-04103) on July 1, 2013, in Jacksonville, Florida.  The Debtor
has tapped Genovese Joblove & Battista, P.A., as counsel, Kapila &
Company as accountant, Kellerhals Ferguson Fletcher Kroblin, PLLC,
as special counsel, and Fishkind & Associates as expert
consultants.

Aberdeen owes $24 million in bonds that financed the project and
more than $20 million to secured lenders with mortgages on the
property.

In its amended schedules, the Debtor disclosed $41,165,861 in
assets and $31,189,704 in liabilities as of the petition date.


ADAYANA INC: May Use AVX's Cash Collateral Thru Jan. 14
-------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Indiana
approved the agreed order modifying the termination date in the
final order dated Nov. 12, 2013, authorizing Adayana, Inc., to use
cash collateral, and incur postpetition debt.

The agreed order was entered between the Debtor and AVX Learning
LLC.

Under the terms of the Final DIP Order, the termination date for
the postpetition financing was Dec. 15, 2013.  However, that date
could be extended by agreement of AVX and a Court order.

Although the parties are working toward a successful closing of
the sale, it appears that the Debtor will require postpetition
financing beyond Dec. 15, 2013, to continue to operate as a going
concern pending the closing.

The Debtor has requested, and AVX has agreed, to extend the
termination date until Jan. 14, 2014.  The extension would allow
the Debtor to close the sale of substantially all of its assets to
AVX and preserve the value of the Debtor's assets as a going
concern pending such closing.

                        About Adayana, Inc.

Adayana, Inc., is a holding company, incorporated under the laws
of the state of Minnesota.  Its primary assets are its equity
ownership interests in two separate operating companies, ABG, an
Adayana Company, and Vertex Solutions, Inc., one of which is
headquartered in Indianapolis, and the other in Virginia.  Both
operating companies are in the "human capital" business, providing
an array of technology-based consulting and training services.

Adayana valued the subsidiaries' stock at $8 million to
$12 million as of March 31, 2013.  It also owns personal
property with book value of $949,280.

Adayana, along with its two subsidiaries, sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. S.D. Ind. Case No.
13-10919) on Oct. 14, 2013.

The Debtors are represented by Michael P. O'Neil, Esq., at Taft
Stettinius & Hollister LLP, in Indianapolis, Indiana.

Nancy J. Gargula, the United States Trustee for Region 10, said
that an official committee under 11 U.S.C. Sec. 1102 has not been
appointed in the bankruptcy case of Adayana, Inc.


ADAYANA INC: Okayed to Sell All Assets to EVX Learning
------------------------------------------------------
The Hon. Robyn L. Moberly of the U.S. Bankruptcy Court for the
Southern District of Indiana, in a sale hearing on Dec. 5, 2013,
authorized Adayana, Inc., to sell substantially all of the
Debtor's assets to EVX Learning LLC pursuant to an acquisition
agreement; and assume and assign unexpired leases.

On Nov. 18, the Court entered an order approving the bidding
procedures to govern the sale.

EVX Learning, the purchaser, agreed to purchase the assets for
an amount equal to $5,000,000, in the form of credit bid which
will become effective on the closing date, in connection with
which a portion of the prepetition loan obligations in such amount
will be assumes and restated as new notes in such principal amount
owing by purchaser to the existing lender; plus the assumption at
the closing by the purchaser of the assumed liabilities from the
seller.

A copy of the terms of the sale is available for free at:

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

                        About Adayana, Inc.

Adayana, Inc., is a holding company, incorporated under the laws
of the state of Minnesota.  Its primary assets are its equity
ownership interests in two separate operating companies, ABG, an
Adayana Company, and Vertex Solutions, Inc., one of which is
headquartered in Indianapolis, and the other in Virginia.  Both
operating companies are in the "human capital" business, providing
an array of technology-based consulting and training services.

Adayana valued the subsidiaries' stock at $8 million to
$12 million as of March 31, 2013.  It also owns personal
property with book value of $949,280.

Adayana, along with its two subsidiaries, sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. S.D. Ind. Case No.
13-10919) on Oct. 14, 2013.

The Debtors are represented by Michael P. O'Neil, Esq., at Taft
Stettinius & Hollister LLP, in Indianapolis, Indiana.

Nancy J. Gargula, the United States Trustee for Region 10, said
that an official committee under 11 U.S.C. Sec. 1102 has not been
appointed in the bankruptcy case of Adayana, Inc.


AFFINION GROUP: S&P Lowers CCR to 'SD' on Completed Debt Exchange
-----------------------------------------------------------------
Standard & Poor's Ratings Services lowered its long-term corporate
credit rating on Affinion Group Holdings Inc. to 'SD' from 'CC'.

At the same time, S&P lowered its issue-level ratings on Affinion
Group Holdings Inc.'s 11.625% senior notes due 2015 and Affinion
Group Inc.'s 11.5% senior subordinated notes due 2015 to 'D' from
'CC'.

The downgrade follows Affinion Group Holdings' announcement that
it completed the exchange of new debt due in 2018 for most of its
11.625% senior notes due 2015 and its operating subsidiary
Affinion Group Inc.'s 11.5% senior subordinated notes due 2015.
S&P views the exchange as distressed and tantamount to a default,
given that Affinion Group Holdings most likely was not going to be
able to service its November 2014 interest payment.

The company exchanged new 13.5% notes due 2018 (issued by newly
created holding company Affinion Investments LLC) for Affinion
Group Inc.'s 11.5% senior subordinated notes due 2015 at an
exchange rate of 102% of face value.  The company also exchanged
new 14.5% pay-in-kind notes due 2018 at a rate of 100% of face
value, with warrants for common equity, for the 11.625% senior
unsecured notes due 2015 at Affinion Group Holdings.

S&P expects to raise the corporate credit rating over the near
term to 'CCC+', reflecting risks surrounding the company's ability
to reverse weak operating performance.  S&P expects that pressures
will continue on its domestic membership business from financial
institution reregulation and on the viability of the company's
highly leveraged capital structure as ongoing significant risk
factors, despite growth in its smaller loyalty products business
and international operations.


AIR MEDICAL: S&P Rates Proposed $55-Mil. Secured Term Loan 'B'
--------------------------------------------------------------
Standard & Poor's Ratings Services assigned Lewisville, Texas-
based Air Medical Group Holdings Inc. its 'B' senior secured
rating and '4' recovery rating to the company's proposed
$55 million term loan B-1 due 2018.  All other ratings assigned
under the parent, Air Medical Holdings LLC and the subsidiary, Air
Medical Group Holdings Inc. remain unchanged following the
company's announcement that they will upsize their term loan.  Air
Medical intends to use the proceeds from the new term loan to
redeem a like amount of their existing 9.25% senior secured notes.

S&P's ratings on Air Medical, a U.S.-based emergency air transport
provider, continues to reflect its "highly leveraged" financial
risk profile based on its adjusted debt to EBITDA above 6.0x and
modest expectations of free cash flow.  The very modest interest
savings do not affect S&P's credit metrics.  The company's "weak"
business risk profile reflects its narrow business focus on
emergency air transportation, exposure to reimbursement risk, and
limited size and diversity.

RATINGS LIST

Air Medical Holdings LLC
Corporate Credit Rating             B/Stable/--

New Rating
Air Medical Group Holdings Inc.
$55 million term loan B-1 due 2018  B
   Recovery rating                   4


ALASKA AIR: S&P Raises CCR to 'BB+' & Removes Rating from Watch
---------------------------------------------------------------
Standard & Poor's Ratings Services raised its corporate credit
ratings on Seattle, Wash.-based Alaska Air Group Inc. (Alaska Air)
and its Alaska Airlines Inc. subsidiary to 'BB+' from 'BB' and
removed them from CreditWatch, where S&P placed them with positive
implications on Nov. 26, 2013.  The rating outlook is stable.

"We based our upgrade on our assessment of Alaska Air's financial
risk as "minimal" under our revised criteria.  This includes
netting of unrestricted cash in excess of the credit agreement
covenant minimum, which boosts the company's already-strong credit
ratios.  For the 12 months ended Sept. 30, 2013, Alaska Air's
funds from operations (FFO) to debt was 93%, EBITDA interest
coverage was 10x, and debt/EBITDA was 0.7x.  "With our expectation
of continued strong operating performance, due to the airline
industry's generally favorable revenue environment and relatively
stable fuel prices, and with continued debt reduction, we
anticipate the company's credit metrics will continue to improve,
but at a more modest pace," said credit analyst Betsy Snyder.

"We assess Alaska Air's business risk profile as "fair," which
incorporates the company's "satisfactory" competitive position and
our assessment of industry risk as "high" and country risk as
"very low."  The company is a relatively small participant in the
U.S. airline industry, accounting for less than 4% of total
traffic.  Alaska Airlines, the major operating subsidiary,
operates hubs at Anchorage, Alaska; Los Angeles; Seattle (its main
hub); and Portland, Ore.  It primarily serves destinations along
the West Coast of the U.S., Canada, Mexico, and routes to Alaska
from the lower 48 states.  The airline also provides east/west
service to Hawaii and several other destinations, primarily from
Seattle.  The company flies around 33% of its capacity in West
Coast markets, 15% in Alaska and between Alaska and the mainland
U.S., 22% midcontinent and transcontinental, 20% to and from
Hawaii, and 10% to Mexico and Canada.  Horizon Air, its regional
operation, primarily flies domestically, mostly along the West
Coast out of hubs at Seattle and Portland," S&P said.

Alaska Airlines faces significant competition in its West Coast
markets, principally from Southwest Airlines Co. and United Air
Lines Inc., but also from JetBlue Airways Corp. Virgin America,
Allegiant Travel Co., and, more recently, Delta Air Lines Inc.
(Delta).  However, it has substantial market share on many of the
routes it serves along the West Coast, and it dominates traffic
between the West Coast and Alaska.  It also benefits from
alliances with many airlines, including American Airlines Inc.,
Delta, and various non-U.S. airlines.

The "satisfactory" competitive position also includes S&P's
assessment of the company's strong profitability based on its
above-average return on capital and EBITDA margin, which is higher
than similar-rated airlines.

S&P's base case assumes:

   -- Revenue growth of around 4% a year in 2014 and 3% in 2015
      based on increased traffic, but with lower pricing due to
      added competition;

   -- Oil prices remaining relatively stable through 2015;

   -- A relatively stable operating margin in 2014, with a modest
      decline in 2015; and

   -- Continued debt reduction.

Based on these assumptions, S&P arrives at the following credit
measures for 2013 and 2014:

   -- FFO to debt of around 90%;

   -- Debt/EBITDA of around 0.8x; and

   -- Continued positive free cash flow.

The combination of a "fair" business risk profile and a "minimal"
financial risk profile results in an initial analytical outcome
(the "anchor") of 'bbb-'.  S&P choses the lower of two possible
outcomes, 'bbb' or 'bbb-', based on its assessment of Alaska Air's
competitive position compared with comparably rated companies, per
S&P's criteria.

Modifiers to the rating were all neutral with the exception of the
comparable rating analysis, which S&P assess as "negative" and
which, accordingly, lowers the final rating to 'BB+'.  S&P judged
Alaska Air's overall credit profile to be not as strong as that of
'BBB-' rated companies.  For example, S&P assess Alaska Air's
competitive advantage and scale/scope and diversity--components of
competitive position--as weaker than those of Southwest Airline
Co., the largest U.S. airline based on domestic passenger
enplanements, and Deutsche Lufthansa AG, a leading European
airline.

The rating outlook is stable based on S&P's expectation of
continued healthy cash generation and a relatively stable
financial profile.

S&P could lower the ratings if economic growth is weaker than it
expects, fuel prices increase substantially, or the company
significantly increases its share repurchases, decreasing FFO to
debt to less than 60% on a consistent basis.

Although considered less likely, S&P could raise the ratings if it
assess the company's long-term competitive position as more secure
in a consolidating industry, causing S&P to reassess its negative
comparable rating analysis.


ALFA GENERAL: Case Summary & 19 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Alfa General LLC
        1307 S International Pwky Ste 1091
        Lake Mary, FL 32746

Case No.: 13-15196

Chapter 11 Petition Date: December 17, 2013

Court: United States Bankruptcy Court
       Middle District of Florida (Orlando)


Debtor's Counsel: David R McFarlin, Esq.
                  WOLFF, HILL, MCFARLIN & HERRON, P.A
                  1851 West Colonial Drive
                  Orlando, FL 32804
                  Tel: 407-648-0058
                  Fax: 407-648-0681
                  Email: dmcfarlin@whmh.com

Total Assets: $1 million

Total Liabilities: $2.66 million

The petition was signed by Louis F Joachim, manager.

A list of the Debtor's 19 largest unsecured creditors is available
for free at http://bankrupt.com/misc/flmb13-15196.pdf


ALLENS INC: Seneca Foods Signs to Buy Firm for $148 Million
-----------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Allens Inc., a processor of canned vegetables, signed
Seneca Foods Corp. to a contract to buy the business for $148
million plus assumption of specified debt.

According to the report, Allens asked the bankruptcy judge in
Fayetteville, Arkansas, to hold a hearing on Dec. 19 for approval
of a $5 million breakup fee and $1.5 million in expense
reimbursement if Marion, New York-based Seneca is outbid at
auction.

Holders of $65 million in second-lien debt, including affiliates
of Sankaty Advisors LLC, quickly filed papers opposing a quick
hearing on the breakup fee. Affiliated with Bain Capital Partners
LLC, Sankaty noted that Siloam Springs, Arkansas-based Allens
failed to meet a Dec. 10 deadline for producing an initial
"stalking horse" buyer to receive a breakup fee.

Sankaty said in court papers that there were discussions with
Allens about an offer under which second-lien lenders would
purchase the business.

Allens previously said three potential buyers were in talks about
being the stalking horse.

Allens is proposing that the court require competing bids by Jan.
14, followed by an auction on Jan. 21 and a hearing on Jan. 24 for
approval of sale.

The loan financing the Chapter 11 reorganization begun in late
October requires a hearing to approve a sale by Jan. 27.

This week, the bankruptcy judge gave final approval for Allens to
borrow $105 million on a revolving credit and $14.2 million on a
term loan from Bank of America NA as agent.

                        About Allens Inc.

Siloam Springs, Arkansas-based Allens, Inc., a maker of canned and
frozen vegetables in business since 1926, filed for bankruptcy on
Oct. 28, 2013, seeking to sell some divisions or reorganize as a
new company (Case No. 13-bk-73597, Bankr. W.D. Ark.).

The Debtors' proposed counsel are Stan D. Smith, Esq., Lance R.
Miller, Esq., and Chris A. McNulty, Esq., at Mitchell, Williams,
Selig, Gates & Woodyard, P.L.L.C., in Little Rock, Arkansas; and
Nancy A. Mitchell, Esq., Maria J. DiConza, Esq., and Matthew L.
Hinker, Esq., at Greenberg Traurig, LLP, in New York.

Jonathan Hickman of Alvarez & Marsal North America, LLC, will
serve as chief restructuring officer.  Cary Daniel, Nick Campbell
and Markus Lahrkamp of A&M will serve as assistant CROs.

Lazard Freres & Co. LLC and Lazard Middle Market LLC serve as
investment bankers, while GA Keen Realty Advisors, LLC, serves as
real estate advisor.


AMERICAN AIRLINES: Analyst Says Old $11 Stock Is Now Worth $17
--------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that AMR Corp. turned out to be a profitable investment
even for those who bought stock in the American Airlines parent
just before its merger with US Airways Group Inc.

According to the report, the combination of the two carriers
created the world's largest airline. On Dec. 6, the last day of
AMR trading before the merger and implementation of a bankruptcy
reorganization plan, shares could be bought for $11.39.

At 1:30 p.m. on Dec. 17, the intrinsic value of an "old" AMR share
was $17.19, according to analyst Kevin Starke, who cited the
equity in newly formed American Airlines Group Inc. that
shareholders have received and will receive under the plan.

The stock was even more profitable for those who realized earlier
in the bankruptcy case that the holding company was solvent even
if the airline unit wasn't. AMR shares sold for about 40 cents in
October 2012 and rose to $1.30 before the merger was announced in
February.

It "was just about the best bankruptcy ever," Starke, a managing
director at CRT Capital Group LLC in Stamford, Connecticut, said
in an interview. "It's insane how well it turned out."

Still, AMR investors must wait to count their profits.  Under the
first distribution, old shareholders got $1.74 in American
Airlines Group stock for each AMR share. Three more distributions
are scheduled in the next few months, plus more as claims are
resolved, Starke said.

Assuming the merged airlines' stock remains at $26.20, where it
was trading at midday on Dec. 17, the next three distributions
will be worth an additional $13.70, Starke said.  Combined with
the first $1.74 distribution, stockholders will have pocketed
$15.44 within a few months.

American Airlines Group fell 1.9 percent to $26.10 on Dec. 17 in
Nasdaq Stock Market trading.

About 10 percent of the value in the old stock is tied up in final
distributions that could come years from now as claims are
reduced, Starke said.

Holders of the old stock are at risk if the price of the merged
airlines' stock declines. For each $1 change in price of the new
stock, the old shares move $1.36, Starke said.

                     About American Airlines

AMR Corp. and its subsidiaries including American Airlines, the
third largest airline in the United States, filed for bankruptcy
protection (Bankr. S.D.N.Y. Lead Case No. 11-15463) in Manhattan
on Nov. 29, 2011, after failing to secure cost-cutting labor
agreements.  AMR, previously the world's largest airline prior to
mergers by other airlines, is the last of the so-called U.S.
legacy airlines to seek court protection from creditors.

Weil, Gotshal & Manges LLP serves as bankruptcy counsel to the
Debtors.  Paul Hastings LLP and Debevoise & Plimpton LLP Groom Law
Group, Chartered, are on board as special counsel.  Rothschild
Inc., is the financial advisor.  Garden City Group Inc. is the
claims and notice agent.

Jack Butler, Esq., John Lyons, Esq., Felecia Perlman, Esq., and
Jay Goffman, Esq., at Skadden, Arps, Slate, Meagher & Flom LLP
serve as counsel to the Official Committee of Unsecured Creditors
in AMR's chapter 11 proceedings.  Togut, Segal & Segal LLP is the
co-counsel for conflicts and other matters; Moelis & Company LLC
is the investment banker, and Mesirow Financial Consulting, LLC,
is the financial advisor.

The Retiree Committee is represented by Jenner & Block LLP's
Catherine L. Steege, Esq., Charles B. Sklarsky, Esq., and Marc B.
Hankin, Esq.

AMR and US Airways Group, Inc., on Feb. 14, 2013, announced a
definitive merger agreement under which the companies will combine
to create a premier global carrier, which will have an implied
combined equity value of approximately $11 billion.

The bankruptcy judge on Sept. 12, 2013, confirmed AMR Corp.'s plan
to exit bankruptcy through a merger with US Airways.  By
distributing stock in the merged airlines, the plan is designed to
pay all creditors in full, with interest.

Judge Sean Lane confirmed the Plan despite the lawsuit filed by
the U.S. Department of Justice and several states' attorney
general complaining that the merger violates antitrust laws.

In November 2013, AMR and the U.S. Justice Department a settlement
of the anti-trust suit.  The settlements require the airlines to
shed 104 slots at Reagan National Airport in Washington and 34 at
LaGuardia Airport in New York.

AMR stepped out of Chapter 11 protection after its $17 billion
merger with US Airways was formally completed on Dec. 9, 2013.

Bankruptcy Creditors' Service, Inc., publishes AMERICAN AIRLINES
BANKRUPTCY NEWS.  The newsletter tracks the Chapter 11 proceeding
undertaken by AMR Corp. and its affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


AMERICAN PATRIOT: U.S. Trustee Appoints 3-Member Creditors Panel
----------------------------------------------------------------
The U.S. Trustee appointed three members to the official committee
of unsecured creditors in the Chapter 11 cases of American Patriot
Gold, LLC.

The Creditors Committee members are:

      1. Jonathan Freund
         Freund & Brackey LLP
         427 North Camden Drive
         Beverly Hills, CA 90210
         Tel: (310) 247-2165 x27
         Fax: (310) 247-2190
         E-mail: jfreund@freundandbrackey.com

      2. Mark A. Kerstein
         The Law Office of Mark A. Kerstein
         9801 Westheimer, Suite 302
         Houston, TX 77042
         Tel: (713) 917-6890
         Fax: (713) 917-6891
         E-mail: kersteinlaw@gmail.com

      3. Tony Alford
         7040 Interlaken Drive
         Kernersville, NC 27284
         Tel. (336) 978-6802
         E-mail: talford@triad.rr.com

Ellen M. Hickman is the Trial Attorney.

American Patriot Gold, LLC, filed a bankruptcy petition (Bankr.
S.D. Tex. Case No. 13-35334) on Aug. 30, 2013.  The petition was
signed by Rocky V. Emery as manager.  The Debtor disclosed total
assets of $25.9 million and total liabilities of $11.6 million.
Reese W. Baker, Esq., at Baker & Associates, LLP, serves as the
Debtor's counsel.


AMPAL-AMERICAN: Court Rejects Ex-Officers' Bid for Damages
----------------------------------------------------------
Bankruptcy Judge Stuart M. Bernstein denied the motion filed by
former officers and directors of Ampal-American Israel Corporation
for relief based on violation of the automatic stay.

The motion was filed by Irit Eluz, Yoram Firon, Amit Mantsur, Erez
Meltzer, Leo Malamud, Sabih Saylan, Revital Degani, Daniel Vaknin,
and Menachem Morag, former officers and directors of Ampal; and
Yosef A. Maiman the principal shareholder and Chairman of the
Board and President and Chief Executive Officer of Ampal.  Their
motion seeks damages based on a violation of the automatic stay
relating to a demand for payment made upon them by Ofer Shapira,
at Shapira & Co. Advocates, an attorney for certain bondholders of
Ampal.  They also ask the Court to enforce the automatic stay,
grant them standing to the extent necessary to enforce the
automatic stay on behalf of the estate, and direct the chapter 7
trustee to discharge Shapira as attorney for Ampal's non-debtor
subsidiaries.

According to Judge Bernstein, the request for prospective relief
to enforce the automatic stay has been rendered moot by subsequent
events.  Eluz et al. have failed to demonstrate that they have
standing to seek damages, and even if they have standing, they
have failed to show that they are entitled to any damages.
Finally, their request that the trustee discharge Shapira is
premature.

A copy of the Court's Dec. 16 Memorandum Decision is available at
http://is.gd/0rN0pFfrom Leagle.com.

Counsel for Movant Yosef A. Maiman:

     David M. Friedman, Esq.
     Daniel A. Fliman, Esq.
     Nii-Amar Amamoo, Esq.
     KASOWITZ, BENSON, TORRES & FRIEDMAN LLP,
     1633 Broadway
     New York, NY 10019

Counsel for Movants Revital Degani, Daniel Vaknin and Menachem
Morag:

     Nicole Gueron, Esq.
     Isaac B. Zaur, Esq.
     CLARICK GUERON REISBAUM LLP
     40 West 25th Street, 12th Floor
     New York, NY 10010

Counsel for Series A Bondholders:

     Arik Preis, Esq.
     AKIN GUMP HAUER & FELD LLP
     One Bryant Park
     Bank of America Tower
     New York, NY 10036

Counsel for Movants Irit Eluz, Yoram Firon, Amit Mantsur, Erez
Meltzer, Leo Malamud and Sabih Saylan:

     Michael D. Sirota, Esq.
     Steven L. Klepper, Esq.
     COLE, SCHOTZ, MEISEL, FORMAN & LEONARD, P.A.
     900 Third Avenue, 16th Floor
     New York, NY 10022

Counsel for Mishmeret-Trust Company Services Ltd and Shapira &
Co.:

     Scott S. Markowitz, Esq.
     Rocco A. Cavaliere, Esq.
     TARTER KRINKSY & DROGIN LLP
     1350 Broadway, 11th Floor
     New York, NY 10018

Counsel for Alex Spizz, Chapter 7 Trustee:

     Alex Spizz, Esq.
     Janice B. Grubin, Esq.
     Arthur Goldstein, Esq.
     Jill Makower, Esq.
     NACHAMIE SPIZZ COHEN & SERCHUK, P.C.
     425 Park Avenue
     New York, NY 10022

                        About Ampal-American

Ampal-American Israel Corporation -- http://www.ampal.com/--
acquired interests primarily in businesses located in Israel or
that are Israel-related.  Ampal-American filed a Chapter 11
petition (Bankr. S.D.N.Y. Case No. 12-13689) on Aug. 29, 2012, to
restructure the Company's Series A, Series B and Series C
debentures.  Bankruptcy Judge Stuart M. Bernstein presides over
the case.  Ampal-American sought bankruptcy protection in the U.S.
because bankruptcy laws in Israel would lead to the Company's
liquidation.

Michelle McMahon, Esq., at Bryan Cave LLP, serves as the Debtor's
counsel.  Houlihan Lokey serves as investment banker.

The petition was signed by Irit Eluz, chief financial officer,
senior vice president.  The Company scheduled $290,664,095 in
total assets and $349,413,858 in total liabilities.

A three-member official committee of unsecured creditors is
represented by Brown Rudnick as counsel.

In May 2013, the Bankruptcy Court converted Ampal's Chapter 11
bankruptcy to a Chapter 7 liquidation after determining that the
energy investment holding company does not have sufficient cash to
execute a reorganization plan.


ARI-RC 6: 2nd and 3rd Wave Debtors Okayed to Use Cash Collateral
----------------------------------------------------------------
The U.S. Bankruptcy Court for the Central District of California
authorized, on a final basis, affiliates of ARI-RC 6 LLC
identified as the Second and Third Wave Debtors to use cash
collateral until April 30, 2014.

The order applies only to the cash that is property of the Second
and Third Wave Debtors' estates, calculated for these purposes as
the total cash receipts from the property multiplied by the Second
and Third Wave Debtors' collective tenant-in-common ownership
interests in the property, which amounts to 39.22% for the Second
Wave Debtors for the 35.61% for the Third Wave Debtors.

The Second and Third Wave Debtors are authorized to deviate from
the line items contained in the Amended Budget by not more than
15%, on a line-item or aggregate basis, unless the Trust (U.S.
Bank National Association, trustee for the Registered Holders of
MLCFC Commercial Mortgage Trust 2007-5, Commercial Mortgage Pass
Through Certificates, Series 2007-5 consents to a greater
deviation).

The Trust will be afforded replacement liens on the postpetition
rents, revenues, issues and profits of each of the Second and
Third Wave Debtors, with such replacement liens to have the same
extent, validity, scope, and priority as its prepetition liens.

The Trust's interest in its collateral is adequately protected in
connection with the use of cash collateral as authorized herein.

                          About ARI-RC

ARI-RC 6, LLC, and four related entities -- ARI-RC 14, LLC, ARI-RC
12, LLC, ARI-RC 21, LLC, ARI-RC 23, LLC -- filed voluntary
petitions under Chapter 11 on July 15, 2013.  Kenneth Greene
signed the petitions as president.

ARI-RC 3, LLC, and nine affiliates filed for Chapter 11 protection
on Aug. 1, 2013.  ARI-RC 11 and three more affiliates subsequently
filed their own Chapter 11 cases on Aug. 2, 2013.  The petitions
were signed by R. Frederick Hodder, Jr. and Monroe Sawhill Hodder,
trustees.

The Debtors own tenant in common (TIC) interests in two commercial
buildings commonly known as Rancho Conejo I and II, located at
1525 and 1535 Rancho Conejo Boulevard, in Thousand Oaks,
California.  The Debtors and 16 related TIC Investors, who have
not filed for bankruptcy, are passive investors with varying
percentage ownership interests in the Property.

The Debtors' cases are jointly administered under the lead case of
ARI-RC 6, Case No. 13-14692, in the U.S. Bankruptcy Court for the
Central District of California.  The Debtors estimated assets and
debts at $10 million to $50 million at the time of the filings.
Judge Alan M. Ahart presides over the cases.

Daniel H. Reiss, Esq., at Levene, Neale, Bender, Yoo & Brill
L.L.P., as counsel for Debtors.


ASR CONSTRUCTORS: May Hire Delmar as Real Estate Broker
-------------------------------------------------------
ASR Constructors, Inc. sought and obtained approval from the U.S.
Bankruptcy Court to employ Robert Jimenez and Steve Wheatley Of
Delmar Commercial Real Estate Services, Inc. as real estate
broker.

ASR Constructors, Inc., filed a Chapter 11 petition (Bankr. C.D.
Cal. Case No. 13-25794) on Sept. 20, 2013.  The petition was
signed by Alan Regotti as president.  The Debtor estimated assets
and debts of at least $10 million.  Judge Mark D. Houle presides
over the case.  James C Bastian, Jr., Esq., at Shulman Hodges &
Bastian, LLP, serves as the Debtor's counsel.


ASR CONSTRUCTORS: Can Tap Lester & Cantrell as Litigation Counsel
-----------------------------------------------------------------
ASR Constructors, Inc. sought and obtained permission from the
Hon. Mark Houle of the U.S. Bankruptcy Court for the Central
District of California to employ Lester & Cantrell LLP as special
litigation counsel.

The Debtor requires Lester & Cantrell to:

   (a) conduct investigations, appear at court hearings and
       prepare the necessary documents and pleadings, to assist
       the Debtor in prosecuting and defending against claims that
       are the subject of the State Court Actions;

   (b) analyze of possible settlement of claims that are the
       subject of the State Court;

   (c) if a judgment is obtained in favor of the Estate in any of
       the State Court Actions, oppose any motion for new trial by
       any opposing party; and

   (d) perform any and all other legal services incident and
       necessary herein as the Debtor may require of Lester &
       Cantrell as special litigation counsel in connection with
       the prosecution and defense of claims that are the subject
       of the State Court Actions.

Lester & Cantrell will be paid at these hourly rates:

       Mark S. Lester, Attorney      $300
       Mark Kraus, Attorney          $250
       Colin Northcutt, Attorney     $250
       Staci Ponce, Paralegal        $120

Lester & Cantrell will also be reimbursed for reasonable out-of-
pocket expenses incurred.

Lester & Cantrell did not receive a retainer for the services to
be performed during the bankruptcy case.

The Debtor also seeks authorization from the Court to place in
Lester & Cantrell's trust account, on a monthly basis, 80% of the
amount of Lester & Cantrell's monthly fees and 100% of the monthly
expenses as they are incurred.

Lester & Cantrell was employed by the Debtor prior to the petition
date for the State Court Actions as well as other lawsuits to
which the Debtor was a party.  During the one year period prior to
the petition date, Lester & Cantrell received payments of fees and
expense from the Debtor in the total amount of $416,009.13.

Lester & Cantrell is owed $37,650.16 on account of services
performed for the Debtor prior to the petition date.

Mark S. Lester, partner of Lester & Cantrell, assured the Court
that the firm is a "disinterested person" as the term is defined
in Section 101(14) of the Bankruptcy Code and does not represent
any interest adverse to the Debtors and their estates.

                      About ASR Constructors

ASR Constructors, Inc., filed a Chapter 11 petition (Bankr. C.D.
Cal. Case No. 13-25794) on Sept. 20, 2013.  The petition was
signed by Alan Regotti as president.  The Debtor estimated assets
and debts of at least $10 million.  Judge Mark D. Houle presides
over the case.  James C Bastian, Jr., Esq., at Shulman Hodges &
Bastian, LLP, serves as the Debtor's counsel.


ASR CONSTRUCTORS: May Employ Shulman Hodges as Bankruptcy Counsel
-----------------------------------------------------------------
Another Meridian Company, LLC and Inland Machinery, Inc., two of
three affiliated companies, with the third being ASR Constructors,
Inc., sought and obtained permission from the U.S. Bankruptcy
Court to employ Shulman Hodges & Bastian LLP as Meridian's and
Inland general bankruptcy counsel.

The firm will, among other things, provide these services:

1. advise the Debtors with respect to their rights, powers,
   duties and obligations as debtors in possession in the
   administration of their cases, the management of their business
   affairs and the management of their property.

2. advise and assist the Debtors with respect to compliance
   with the requirements of the Office of the United States
   Trustee.

3. advise the Debtors regarding matters of bankruptcy law,
   including the rights and remedies of the Debtors with respect
   to its assets and with respect to the claims of creditors.

James C. Bastian, Jr., attests that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the
Bankruptcy Code.

The firm's rates are:

      Attorneys                    Rates
      ---------                    -----
      Leonard M. Shulman           $525
      Ronald S. Hodges             $525
      James C. Bastian, Jr.        $525
      Mark Bradshaw                $495
      J. Ronald Ignatuk            $495
      John Mark Jennings           $495
      Gary A. Pemberton            $495
      Michael J. Petersen          $495
      Lynda T. Bui                 $425
      Franklin J. Contreras        $425
      Robert Huttenhoff            $425
      Paul S. Ocampo               $400
      Samuel J. Romero             $400
      Brian L. Bloom               $375
      Melissa Davis Lowe           $375
      Kiara W. Gebhart             $350
      Rika M. Kido                 $300
      Ryan O'Dea                   $250

      Paralegals                   Rates
      ----------                   -----
      Lorre E. Clapp               $195
      Pamela G. Little             $195
      Erlanna L. Lohayza           $195
      Patricia A. Britton          $185
      Melanie G. Rodgers           $185
      Steve P. Swartzell           $175
      Anne Marie Vernon            $175
      Tammy Walsworth              $175
      Arland Udo                   $150
      Tonia Mann-Wooten            $125

      Of Counsel                   Rates
      ----------                   -----
      A. Lavar Taylor              $525
      Donald R. Kurtz              $525
      Gregory J. Anderson          $450

                        About ASR Constructors

ASR Constructors, Inc., filed a Chapter 11 petition (Bankr. C.D.
Cal. Case No. 13-25794) on Sept. 20, 2013.  The petition was
signed by Alan Regotti as president.  The Debtor estimated assets
and debts of at least $10 million.  Judge Mark D. Houle presides
over the case.  James C Bastian, Jr., Esq., at Shulman Hodges &
Bastian, LLP, serves as the Debtor's counsel.


BELLFLOWER, CA: S&P Revises 2002A Bond Rating Outlook to Stable
---------------------------------------------------------------
Standard & Poor's Ratings Services has revised its outlook on
Bellflower, Calif.'s (9920 Flora Vista) series 2002A multifamily
housing revenue bonds, issued for the Bellflower Terrace Senior
Apartments project, to stable from negative.

"The outlook revision reflects what we believe is the now greater
potential for the parity resolution to return to at least 100%
through the remarketing date, as overcollateralization becomes
sufficient to mitigate reinvestment risk and provide adequate debt
service coverage (DSC)," said Standard & Poor's credit analyst
Teresa Galicia.

At the same time, Standard & Poor's has affirmed its 'BB-' long-
term rating on the issue.

The rating reflects Standard & Poor's view of these weaknesses:

   -- Revenues from mortgage debt service payments and investment
      earnings continue to be insufficient to pay full and timely
      debt service on the bonds plus fees, and

   -- DSC is projected to fall below a level the rating agency
      would deem commensurate with an investment-grade rating
      prior to the remarketing date.

Partially mitigating the aforementioned weaknesses is Standard &
Poor's view of these strengths:

   -- The investments held in Wells Fargo Advantage Government
      Money Market Fund (AAAm),

   -- The high credit quality of the irrevocable standby Fannie
      Mae credit enhancement facility, and

   -- The 101.15% asset-to-liability ratio as of September 2013.

"We could revise the outlook back to negative if parity continues
to deteriorate, which would impair the likelihood of timely debt
service payments," Mrs. Galicia added.


BROWN SHOE: S&P Hikes Corp. Credit Rating to B+ on Debt Repayment
-----------------------------------------------------------------
Standard & Poor's Ratings Services said it raised its corporate
credit rating on St. Louis, Mo.-based Brown Shoe Co. Inc. to 'B+'
from 'B'.  The outlook is stable.  At the same time, S&P raised
its issue-level rating on the company's unsecured debt to 'B+'
from 'B', and maintained its recovery rating of '3', indicating
its expectation for meaningful (50% to 70%) recovery in the event
of a payment default.

"The upgrade reflects relatively steady performance coupled with
meaningful debt repayment over the past year.  The company used
proceeds from the sale of two divisions as well as cash from
operations to reduce borrowings outstanding under its revolving
credit facility," said credit analyst David Kuntz.  "As a result,
leverage declined to the mid-2x area, and we forecast further
improvements over the next year."

The stable outlook reflects S&P's view that a more productive
store base and positive operating leverage will result in modest
performance gains over the next year.  As a result, S&P forecasts
that the company will modestly strengthen its credit protection
profile during that time, with leverage in the low-2x area,
interest coverage in the low-6x area, and FFO to total debt in the
mid-30% area.

                         Downside scenario

S&P could lower the rating if merchandise missteps or meaningful
performance erosion lead to weaker credit protection measures.
Under this scenario, S&P could reassess the financial risk profile
as "aggressive" as performance declines so that leverage reaches
the mid-3x area.  Additionally, any meaningful debt-financed
acquisitions that increases leverage to this point could also have
a negative impact on the rating.

                          Upside scenario

S&P could raise the rating on Brown Shoe if the company is able to
demonstrate moderate operational growth over the next year, which
could improve its assessment of the company's volatility of
profitability.  Under this scenario, revenues would be in the mid-
single digits and EBITDA margins would be in the mid-12% area.  At
that time, S&P could change its assessment of the company's
business risk profile to "weak" from "vulnerable."  However, any
ratings upside would also be predicated on the company maintaining
credit protection measures consistent with a "significant"
financial risk profile.


CITGO PETROLEUM: S&P Lowers CCR to 'B' After Parent Downgrade
-------------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its long-term
corporate credit on CITGO Petroleum Corp. to 'B' from 'B+'.  At
the same time, S&P lowered its senior secured debt ratings on
CITGO to 'BB-' from 'BB'.  The senior secured recovery rating of
'1' is unchanged.  The outlook remains negative.

"The rating action on Citgo follows the downgrade of PdVSA to 'B-'
from 'B'.  We base our downgrade on the application of Group
Ratings Methodology and our assessment of CITGO as an insulated
subsidiary to its Venezuelan parent, PdVSA.  We assess the group
credit profile of PdVSA at 'b-', in line with our corporate credit
rating on PdVSA.  We believe the facts and circumstances warrant
CITGO being rated one notch above PdVSA.  In our view, there could
be scenarios in which PdVSA could incur financial distress, but
CITGO's creditworthiness remains relatively unscathed.  CITGO is
severable from PdVSA, has independent financial prospects and
holds itself out as a separate entity.  The cross-border ownership
and the highly restrictive debt covenants at CITGO lower the
probability of it being drawn into a potential PdVSA bankruptcy.
At the same time, we believe no more than one notch of separation
is warranted given PdVSA's full control over CITGO.  There is no
presence of independent directors or other structural ring-fencing
features," S&P added.

"Our assessment of CITGO's stand-alone credit profile at 'bb'
remains unchanged, reflecting our assessment of its "fair"
business risk profile and "significant" financial risk profile,"
said Standard & Poor's credit analyst Nora Pickens.

S&P's "fair" business risk assessment of CITGO incorporates its
"moderately high" industry risk assessment of the oil refining
industry and a "fair" assessment of CITGO's competitive position.
CITGO has a total processing capacity of 749,000 barrels per day
(bpd} of capacity across three refiners: two refineries on the
U.S. Gulf Coast, and one in the Mid-Continent region, where
margins have been highly favorable in recent years, although
slightly weaker now than last year.

At the current rating level, Citgo's outlook mirrors that of
PdVSA.  The outlook on PdVSA reflects that on Venezuela.  S&P
don't expect PDVSA's relationship with the government to change
significantly in the next two to three years.  S&P also believes
that the government won't significantly reduce its heavy
involvement in the sector or in the company.  Therefore, the
rating on PdVSA will likely follow the rating trajectory on the
sovereign.

S&P would revise the outlook on Citgo to stable in the event that
it would do the same on PDVSA.  Similarly, S&P would likely
downgrade Citgo if PdVSA is downgraded.  Since CITGO's SACP is
'bb', it is very unlikely that S&P would lower CITGO's rating due
to company-specific factors.


COASTAL CONDOS: First Equitable Realty Defends Case Dismissal Bid
-----------------------------------------------------------------
First Equitable Realty, III, Ltd., said Coastal Condos LLC failed
in its arguments to trump FER's motion to dismiss the Chapter 11
case.

FER noted that according to the Debtor, (i) the Court must not
hear the motion to dismiss because FER did not provide 21-days
notice before the confirmation hearing; and (ii) the Debtor claims
that the doctrine of laches bars the motion to dismiss.

On Nov. 27, the Debtor said it has complied with virtually all of
the significant requirements of a debtor-in-possession leading it
to the precipice of plan confirmation.  In this connection, the
Debtor said FER does not appear to dispute the Debtor's Plan is
feasible and viable.  Thus FER tacitly admitted that there is a
legitimate reorganization in the offing.

As reported in the Troubled Company Reporter, FER said the current
Chapter 11 case -- together with the bankruptcy case initially
filed by the Debtor on May 25, 2012, and dismissed on April 23,
2013 -- were conceived and have been administered and implemented
in bad faith.  According to FER, the Debtor filed the bankruptcy
cases to gain advantage over FER's in pending litigation and other
disputes between the two parties by imposing an automatic stay and
thereby attempting to place FER in violation of the stay.

FER cites these grounds for case dismissal:

   1. A debtor's attempt to use the provisions of the Bankruptcy
Code to gain an unfair advantage in a two-party dispute, such as
in Coastal Condo's bankruptcy case, strongly supports a finding of
cause for dismissal.

   2. Coastal Condo is a single asset reorganization case.  In its
filed schedules, Schedule A and Schedule B, the Debtor discloses
as its only "assets" the 72 condominium units and the rental
income of $164,258.48 deposited in its D.I.P. account
(representing the balance of the rental income accumulated during
the Mississippi bankruptcy case less the approximately $304,000
transferred on the eve of bankruptcy to fund attorneys' fees and
retainers).

   3. The Debtor's non-insider obligations are negligible in
comparison to the amounts owed to First Equitable.

   4. The Debtor has no employees.

   5. The 72 condominium units were the subject of a Miami-Dade
County Circuit mortgage foreclosure action filed only 15 days
before the Mississippi bankruptcy.

   6. The Debtor's bankruptcy filings are solely due to its
numerous breaches of its obligations to FER and the $15.8 million
in principal, accumulated interest and attorney's fees owed to FER
because of such breaches.  But for FER, the Debtor would not have
filed for bankruptcy relief.  As its original schedules reflect,
the Debtor had no other creditors when it initially filed on May
25, 2012.

   7. The Debtor's bankruptcy filing on May 25, 2012 -- which
followed Mr. Dickson's threats of bankruptcy, first on March 1,
2012, and later on March 21, 2012, and came after Dr. Edwards
rejected Mr. Dickson's attempts to re-negotiate the CHFS defaulted
loans -- strongly points to the Debtor's intent to frustrate and
delay the exercise of FER's rights and remedies.  The 2012
bankruptcy filing -- two weeks after the Miami-Dade Circuit Court
action was filed on May 10, 2012, to set aside the fraudulent
transfers and to foreclose the mortgage -- conclusively removes
any doubt that the Debtor's bankruptcy was designed to frustrate
and delay FER's exercise of its rights and remedies.

                       About Coastal Condos

Coastal Condos filed a Chapter 11 petition (Bankr. S.D. Fla. Case
No. 13-20729) on May 8, 2013.  The Debtor owns and manages 72
condominiums at 7601 East Treasure Drive, Miami Beach, FL 33141.
Judge A. Jay Cristol presides over the case.

David R. Softness, P.A., in Miami, Florida, represents the Debtor
as counsel.  Roy H. Lidell, Esq., of Wells Marble and Hurst, PLLC,
as well as David M. Rogero, P.A., serve as special counsel to the
Debtor.

Coastal Condos was the target of a $15.8 million foreclosure
lawsuit filed by North Bay Village-based First Equitable Realty
III in May 2012.

Coastal Condos owns 72 condo units at Grandview Palace in North
Bay Village, Florida, valued at $10.8 million.  Personal property
is valued at $389,000.  Assets total $11.2 million and liabilities
total $16.6 million.  It says that no creditors are holding
secured claims.

Coastal Condos first sought Chapter 11 protection (Bankr. S.D.
Miss. Case No. 12-07146) on May 25, 2012.  The case was dismissed
April 23, 2013.

The U.S. Trustee has not appointed a committee of creditors in the
2013 case.

The Debtor filed a Second Amended Plan of Reorganization early in
December 2013.  The Plan contemplates payment in full to creditors
over time.  The Plan provides for the utilization of all Coastal
Condos' assets consisting of 72 condominium units to fund payment
to creditors.  General unsecured creditors will receive payment in
full without interest with payments to creditors made on a pro
rata basis and at the end of each quarter after confirmation until
paid in full.


COLE GARDENS: 66-Unit Apartment to Be Sold at Auction on Jan. 15
----------------------------------------------------------------
Cole Gardens Apartments will be sold to the highest bidder at a
live auction on Jan. 15, 2014, commencing at 10:00 a.m. Eastern
Prevailing Time, at the law offices of Ballard Spahr LLP, 300 East
Lombard Street, 18th floor, Baltimore, Maryland 21202.

The property consists of 66 garden style units on roughly 1.66
acres located at 2800?2808 Jasper Road S.E., Washington, DC 20020,
in Anacostia area.

According to the Property Summary Overview -- http://is.gd/sl1S9Q
-- the 2012 Tax Assessment Valuation for the Property is
$4,164,100 -- (Land = $1,624,790; and Imp. = $2,539,310).  The
2102 Taxes is $35,395.

The Property will be sold in the entirety as one bid, "AS IS,
WHERE IS" with all faults and no representations or warranties,
expressed or implied.

Sperry Van Ness is supervising the auction.  The local assisting
broker contact for information is Kayvan Mehrbakhsh at 703-734-
2822 or kayvan@svn.com

The final sale hearing will be conducted following the Auction at
2:00 p.m. Eastern Prevailing Time, before the Honorable Judge
Nancy V. Alquist in U.S. Bankruptcy Court in Baltimore.

The Property will be available and accessible for inspection and
guided property tours beginning Dec. 9 by special appointment with
the court appointed on site property manager and Kayvan Mehrbakhsh
at 703-734-2822 -- kayvan@svn.com -- or Hourieh Raissian 703-898-
8190 -- hourieh.raissian@svn.com

Cole Gardens Apartments, LLC, filed for Chapter 11 bankruptcy
(Bankr. D. Md. Case No. 13-19514) on May 31, 2013.  Judge Nancy V.
Alquist oversees the case.  The Law Office of Ronald L. Schwartz,
Esq., serves as the Debtor's counsel.  In its petition, Cole
Gardens listed under $10 million in both assets and debts.

An affiliate, Dolphin KMG 1124, LLC, also sought Chapter 11
protection (Case No. 13-19516), also listing under $10 million in
both assets and debts.

The petitions were signed by David Benowitz, member.

A list of Cole Gardens Apartments' 10 largest unsecured creditors
is available for free at http://bankrupt.com/misc/mdb13-19514.pdf

A list of Dolphin KMG 1124's nine largest unsecured creditors is
available for free at http://bankrupt.com/misc/mdb13-19516.pdf



CORNERSTONE HOMES: Panel Balks at Exclusivity Extension
-------------------------------------------------------
The Official Committee of Unsecured Creditors in the Chapter 11
case of Cornerstone Homes, Inc., asks the U.S. Bankruptcy Court
for the Western District of New York to deny the Debtor's
application for an extension in its exclusive periods to file and
solicit acceptances for the Chapter 11 Plan.  The Committee argues
that the Debtor cannot satisfy its burden to establish cause for
an extension of the exclusivity period because the unsecured
creditors have lost all confidence in the Debtor and in the
management by David L. Fleet, the sole shareholder, officer, and
director of the Debtor.

The Debtor's request for exclusivity extension was reported in the
Troubled Company Reporter on Dec. 3, 2013.

In August 2013, the bankruptcy judge entered an order adjourning
the hearing date on the Debtor's prepackaged plan indefinitely.

                             The Plan

The Committee noted that on the Petition Date, the Debtor filed a
plan of reorganization and a disclosure statement.  Pursuant to
the Plan, David L. Fleet, the sole shareholder, officer, and
director of the Debtor, would receive 100% of the stock of the
Reorganized Debtor in exchange for Fleet's "pledge" to provide up
to $1 million to be paid to Debtor's unsecured creditors.

The Plan provides that Fleet would provide funding for the
$1 million payment "to the extent such [funds are] not available
from Debtor or Reorganized Debtor sources. . . ."

According to the Disclosure Statement, the Debtor has in excess of
$3 million of unencumbered assets.

                      About Cornerstone Homes

Cornerstone Homes Inc. is based in Corning, New York and is
engaged in the business of buying, selling and leasing single
family homes in the State of New York, with such properties
primarily located in the South Central and South Western portions
of the State.  The company owns 728 properties, with approximately
400 subject to land contracts.

Cornerstone Homes Inc., a homebuilder from Corning, New York,
filed a Chapter 11 petition (Bankr. W.D.N.Y. Case No. 13-21103) on
July 15, 2013, in Rochester alongside a reorganization plan
already accepted by 96 percent of unsecured creditors' claims.

The Debtor disclosed assets of $18,561,028 and liabilities of
$36,248,526.  Four secured lenders with $21.8 million in claims
are to be paid in full under the plan.  Unsecured creditors --
chiefly noteholders with $14.5 million in claims -- will have a 7
percent recovery.

Judge Paul R. Warren presides over the case.  Curtiss Alan
Johnson, Esq., and David L. Rasmussen, Esq., at Davidson Fink,
LLP, in Rochester, N.Y., serve as the Debtor's counsel.  The
Debtor has tapped GAR Associates to appraise a selection of its
properties to support the Debtor's liquidation analysis.


COYOTE MOON: Voluntary Chapter 11 Case Summary
----------------------------------------------
Debtor: Coyote Moon L.P.
        759 N MOUNTAIN AVE.
        Upland, CA 91786

Case No.: 13-30080

Chapter 11 Petition Date: December 17, 2013

Court: United States Bankruptcy Court
       Central District of California (Riverside)

Judge: Hon. Wayne E. Johnson

Debtor's Counsel: Stephen R Wade, Esq.
                  THE LAW OFFICES OF STEPHEN R WADE
                  350 W Fourth St
                  Claremont, CA 91711
                  Tel: 909-985-6500
                  Fax: 909-399-9900
                  Email: laurel@srwadelaw.com

Estimated Assets: $10 million to $50 million

Estimated Debts: $1 million to $10 million

The petition was signed by Gil Rodriguez, Jr., general partner.

The Debtor did not file a list of its largest unsecured creditors
when it filed the petition.


CROWN CASTLE: S&P Raises Unsecured Notes Rating to BB-, Off Watch
-----------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'BBB-' issue-level
rating and '1' recovery rating to Crown Castle Operating Co.'s
proposed $500 million incremental term loan B due 2021.  At the
same time, S&P raised the rating on Crown Castle Operating Co.'s
existing senior secured credit facility to 'BBB-' from 'BB+' and
revised the recovery rating to '1' from '2'.  The '1' recovery
rating reflects S&P's expectation of very high (90%-100%) recovery
in the event of payment default.  S&P also removed the issue-level
rating from CreditWatch, where it had placed it with positive
implications on Oct. 21, 2013, following the company's announced
transaction to purchase the leasing rights to AT&T's tower
portfolio.

In addition, S&P raised the rating on parent wireless tower
operator Crown Castle International Corp.'s senior unsecured notes
to 'BB-' from 'B+' and revised the recovery rating to '5' from
'6'.  The '5' recovery rating indicates S&P's expectation for
modest (10% to 30%) recovery in the event of payment default.

The company amended its credit facility agreement to add the
incremental term loan B and also to extend the maturity on the
term loan A and revolving credit facility to 2019 from 2017.  S&P
expects proceeds from the incremental term loan to be used to
repay borrowings under the revolving credit facility, including
partial funding of the recently completed AT&T tower transaction.

The issue-level upgrades follow S&P's reassessment of the values
of the company's domestic and foreign tower portfolio in a default
scenario.  S&P values the U.S. towers at $360,000 per tower,
incorporating an approximate 20% discount to the average of recent
selected market transactions.  The Australian market, on the other
hand, has not had an active trading market recently.  However, S&P
considers the market characteristics in Australia similar to those
in the U.S. The Australian wireless sector is fairly mature, and
tower sites have multiple tenants, consisting primarily of large,
financially strong wireless carriers.  As such, S&P has used the
same valuation for these towers as those in the U.S.  S&P also
valued Crown's distributed antennae systems (DAS) assets at 5x
distressed EBITDA, which is approximately 20% below current EBITDA
levels generated by these assets.

For the complete recovery analysis, see the recovery report on
Crown Castle, to be published following this report on
RatingsDirect.

RATINGS LIST

Crown Castle International Corp.
Corporate Credit Rating                     BB/Stable/--

Rating Raised; Recovery Rating Revised       To           From

Crown Castle International Corp.
Senior Unsecured                            BB-          B+
  Recovery Rating                            5            6

New Rating

Crown Castle Operating Co.
$500 mil. incremental term loan B due 2021
Senior Secured                              BBB-
  Recovery Rating                            1

Rating Raised And Removed From CreditWatch;
Recovery Rating Revised

Crown Castle Operating Co.                   To      From
Senior Secured                              BBB-    BB+/Watch Pos
  Recovery Rating                            1       2

Rating Unchanged

CC Holdings GS V LLC
Crown Castle GS III Corp.
Senior Secured                              BBB-
  Recovery Rating


D & L ENERGY: May Sell All Assets to RLH for $20.7MM
----------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Ohio
authorized D & L Energy, Inc., et al., to sell substantially all
of their assets -- other than Debtors' interest in the No. 4
Disposal Well -- to Resource Land Holdings, LLC.

The buyer made the highest and best offer for the acquired assets,
for the purchase price of $20,700,000 pursuant to the terms of the
APA.

Any objections to the sale motion that have not been withdrawn,
waived, or resolved, and all reservations of rights included in
such objections, are overruled on the merits.

As reported in the Troubled Company Reporter on Dec. 3, 2013,
Oscar Sterle, M.D., a land owner in Trumbull County who has a
lease with D&L, filed a limited objection to the sale to alert any
potential purchaser to his interest and his pending motion for
relief from stay.  Sterle is asking the bankruptcy court for
relief from stay to allow him to proceed in a lawsuit seeking a
declaratory judgment that the lease entered into with the Debtor
was null and void.  Sterle wants the lease excluded from the sale.

                        About D & L Energy

D & L Energy, Inc., based in Youngstown, Ohio, was formed by David
DeChristofaro, Ben Lupo, and James Beshara in 1986 to be a
conventional oil and gas well operator and producer, primarily
targeting oil and gas reserves in the Clinton Sandstone formation
throughout Northeast Ohio and Northwest Pennsylvania.  D&L
currently has three (3) shareholders, Ben Lupo (80.76%
shareholder), Susan Faith (15% shareholder), and Holly Serensky
Lupo (4.24% shareholder).  Nicholas C. Paparodis is the acting CEO
and President of D&L.  Kathy Kaniclides is the acting Secretary
and Treasurer of D&L.  Currently, Serensky Lupo is the sole
director of D&L.

Petroflow, Inc., is an Ohio corporation which is a wholly owned
subsidiary of D&L.  Originally intended to operate as the
"drilling arm" of D&L, Petroflow ceased all operations prior to
the filing of these bankruptcy matters.  Petroflow has no current
income, no bank accounts, and no employees.  Paparodis is the
president, CEO and sole director of Petroflow.

D&L and Petroflow filed for Chapter 11 bankruptcy (Bankr. N.D.
Ohio Lead Case No. 13-40813) on April 16, 2013.  Judge Kay Woods
oversees the case.

The Debtor disclosed in its amended schedules, $40,615,677 in
assets and $6,187,217 in liabilities as of the Chapter 11 filing.

Brian T. Angeloni, Esq., Kathryn A. Belfance, Esq., Steven
Heimberger, Esq., and Todd A. Mazzola, Esq., at Roderick Linton
Belfance, LLP, serve as the Debtors' counsel, and Walter
Haverfield, LLP, is the environmental counsel.  SS&G Parkland
Consulting, LLC, serves as financial advisor and investment
banker.

Sherri Lynn Dahl, Esq., and Peter R. Morrison, Esq., at Squire
Sanders (US) LLP, have been tapped as counsel to the official
committee of unsecured creditors.  BBP Partners LLC serves as the
panel's financial advisors.


DETROIT, MI: Opens Trial on Taking Loan to Terminate Swap Contract
------------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that the trial began on Dec. 17 in Detroit with the judge
asking whether a state loan board had approved a $350 million loan
to be used in paying $240 million for termination of a swap
agreement.

                 About City of Detroit, Michigan

The City of Detroit, Michigan, weighed down by more than
$18 billion in accrued obligations, sought municipal bankruptcy
protection on July 18, 2013, by filing a voluntary Chapter 9
petition (Bankr. E.D. Mich. Case No. 13-53846).  Detroit listed
more than $1 billion in both assets and debts.

Kevyn Orr, who was appointed in March 2013 as Detroit's emergency
manager, signed the petition.  Detroit is represented by
lawyers at Jones Day and Miller Canfield Paddock and Stone PLC.

Michigan Governor Rick Snyder authorized the bankruptcy filing.

The filing makes Detroit the largest American city to seek
bankruptcy, in terms of population and the size of the debts and
liabilities involved.

The City's $18 billion in debt includes $5.85 billion in special
revenue obligations, $6.4 billion in post-employment benefits,
$3.5 billion for underfunded pensions, $1.13 billion on secured
and unsecured general obligations, and $1.43 billion on pension-
related debt, according to a court filing.  Debt service consumes
42.5 percent of revenue.  The city has 100,000 creditors and
20,000 retirees.

Detroit is represented by David G. Heiman, Esq., and Heather
Lennox, Esq., at Jones Day, in Cleveland, Ohio; Bruce Bennett,
Esq., at Jones Day, in Los Angeles, California; and Jonathan S.
Green, Esq., and Stephen S. LaPlante, Esq., at Miller Canfield
Paddock and Stone PLC, in Detroit, Michigan.

Sharon Levine, Esq., at Lowenstein Sandler LLP, is representing
the American Federation of State, County and Municipal Employees
and the International Union.

Babette Ceccotti, Esq., at Cohen, Weiss & Simon LLP, is
representing the United Automobile, Aerospace and Agricultural
Implement Workers of America.

A nine-member official committee of retired workers was appointed
in the case.  The Retirees' Committee is represented by Dentons US
LLP.


DIGITAL DOMAIN: Forbearance Period Under DIP Loan Expires Jan. 17
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware approved a
ninth amendment to the final order dated Nov. 7, 2012, authorizing
DDMG Estate, formerly known as Digital Domain Media Group, Inc.,
et al., to obtain postpetition financing and use cash collateral.

Pursuant to the amendment, the Debtors can incur DIP financing and
use cash collateral; and the DIP Agent and the DIP lenders will
forbear from exercising their remedies under the final DIP order,
DIP term sheet documentation until (i) Jan. 17, 2014, or (ii) the
occurrence of a termination event.

A copy of the Approved Revised Budget is available for free at
http://bankrupt.com/misc/DIGITALDOMAINcashcollorderamendment.pdf

As reported in the Troubled Company Reporter on Nov. 26, 2013,
during the Forbearance Period, the Debtors may incur debt and use
Cash Collateral in accordance with the terms and conditions of the
Final DIP Order, the First Amendment, the Second Amendment, the
Third Amendment, the Fourth Amendment, the Fifth Amendment, the
Sixth Amendment, and the Seventh Amendment, which shall remain in
full force and effect, except as specifically amended or modified
by this order.

                      About Digital Domain

Port St. Lucie, Florida-based Digital Domain Media Group, Inc. --
http://www.digitaldomain.com/-- engaged in the creation of
original content animation feature films, and development of
computer-generated imagery for feature films and trans-media
advertising primarily in the United States.

Digital Domain Media Group, Inc. and 13 affiliates sought
Chapter 11 protection (Bankr. D. Del. Lead Case No. 12-12568) on
Sept. 11, 2012, to sell its business for $15 million to
Searchlight Capital Partners LP, subject to higher and better
offers.  The Company disclosed assets of $205 million and
liabilities totaling $214 million.

The Debtors also have sought ancillary relief in Canada, pursuant
to the Companies' Creditors Arrangement Act in the Supreme Court
of British Columbia, Vancouver Registry.

Attorneys at Pachulski Stang Ziehl & Jones serve as counsel to the
Debtors.  FTI Consulting, Inc.'s Michael Katzenstein is the chief
restructuring officer.  Kurtzman Carson Consultants LLC is the
claims and notice agent.  An official committee of unsecured
creditors appointed in the case is represented by lawyers at
Sullivan Hazeltine Allinson LLC and Brown Rudnick LLP.

At a bankruptcy auction, the principal part of the business was
purchased by a joint venture between Galloping Horse America LLC,
an affiliate of Beijing Galloping Horse Co., and an affiliate of
Reliance Capital Ltd., based in Mumbai.  The $36.7 million total
value of the contact includes $3.6 million to cure defaults on
contracts and $2.9 million in reimbursement of payroll costs. As
the result of a settlement negotiated by the unsecured creditors'
committee with secured lenders, there will be some recovery for
the committee's constituency.


DIVERSINET CORP: Common Shares Delisted Following Liquidation
-------------------------------------------------------------
Diversinet Corp., by Duff & Phelps Canada Restructuring Inc., in
its capacity as the Court appointed Liquidator of Diversinet, on
Dec. 17 announced the delisting of the common shares of Diversinet
from trading on the OTCQB.  The delisting was set to take effect
prior to the opening of markets on December 17, 2013.  As
previously announced, in accordance with the Court approved plan
of liquidation and distribution, an application was made to delist
the Common Shares following the claims bar date of December 16,
2013 and completion of the Claims Process (as defined in the
Liquidation Plan) administered by the Liquidator.

The Liquidator has also applied to CDS Clearing and Depository
Services Inc. and Depository Trust & Clearing Corporation
requesting that they place a restriction on the Common Shares so
that no transfers among participants may occur.  On December 16,
2013, CDS published a bulletin announcing that the Common Shares
would be fully restricted in CDS as of opening of business on
December 17, 2013.  DTCC is expected to provide a similar notice
once transfers made up to and including December 16, 2013 have
been settled.

As a result of the above, the Common Shares are no longer listed
or posted for trading on any stock exchange or marketplace.
Further, in accordance with the Liquidation Plan, all transfers of
Common Shares made on or after the completion of the Claims
Process will be void unless made with the explicit sanction of the
Liquidator.


DUNLAP OIL: Bank Defends Chapter 7 Conversion Bid
-------------------------------------------------
Canyon Community Bank, N.A., a secured creditor, responded to
Dunlap Oil Company, Inc., and Quail Hollow Inn, LLC's objection to
the bank's motion to convert the Debtors' cases to that under
Chapter 7 of the Bankruptcy Code.

CCB asserts that conversion of the Debtors' cases is appropriate
because, among other things:

   1. conversion is in best interest of the parties; and

   2. applicable authority and the facts of the case do support
      conversion.

According to CCB, on Nov. 18, 2013, the Court entered its ruling
denying confirmation of Debtors' First Amended Joint Plan of
Reorganization dated Feb. 14, 2013.  The Court also granted the
motions for stay relief to CCB and Pineda, two secured creditors
holding a total of $13,547,381 in claims.

The Court denied confirmation of the Debtors' Plan for these
reasons:

   1) The Debtors did not comply with the applicable provisions
      of the Bankruptcy Code;

   2) The Debtors violated the Court's cash collateral orders;
      and

   3) The Debtors did not meet the feasibility requirement for
      the Plan.

The Debtors have responded to (i) CCB's motion to convert; and
(ii) Pineda Grantor Trust II's motion for immediate stay relief
and termination of cash collateral authority, and alternative
motion to convert to Chapter 7 for cause.  The Debtors argued that
(1) conversion of their cases to a Chapter 7 proceeding is not in
the best interests of any party; and (2) the authority and facts
of their cases do not support conversion.

               About Dunlap Oil and Quail Hollow Inn

Dunlap Oil Company, Inc., and Quail Hollow Inn, LLC, sought
Chapter 11 protection (Bankr. D. Ariz. Case No. 12-23252 and
12-23256) on Oct. 24, 2012.  Founded in 1958, Dunlap Oil is a
Willcox, Arizona-based operator of 14 gasoline services stations.
QOH owns the 89-room outside corridor Best Western Plus Quail
Hollow hotel in Willcox.  The two companies are owned and operated
by the Dunlap family.

The Hon. Brenda Moody Whinery presides over the case.  John R.
Clemency, Esq., and Lindsi M. Weber, Esq., at Gallagher & Kennedy,
P.A., serve as the Debtors' counsel.  Peritus Commercial Finance
LLC serves as financial advisor.  Quail Hollow Inn also hired
Sally M. Darcy of McEvoy Daniels & Darcy P.C. for the limited
purpose of handling any claims, issues, and/or disputes between
QHI and Best Western International, Inc.  The Debtors' lead
counsel, Gallagher & Kennedy, P.A., has a conflict precluding its
representation of the Debtor in matters relating to Best Western.

QOH declared assets of at least $1 million and debts exceeding
$10 million.  DOC estimated assets and debts of $10 million to
$50 million.

The petitions were signed by Theodore Dunlap, president.

Ilene J. Lashinsky, the U.S. Trustee for Region 14, has appointed
three creditors to serve on an Official Committee of Unsecured
Creditor for the Chapter 11 bankruptcy case of Dunlap Oil Company.
The Committee tapped Nussbaum Gillis & Dinner, P.C. as its
counsel.

Pineda Grantor Trust II, successor-in-interest to Compass Bank, is
represented by Steven N. Berger, Esq., and Bradley D. Pack, Esq.,
at Engelman Berger, P.C.

Canyon Community Bank NA is represented by Pat P. Lopez III, Esq.,
Rebecca K. O'Brien, Esq., and Jeffrey G. Baxter, Esq., at Rusing
Lopez & Lizardi, P.L.L.C.


EXCEL MARITIME: Reports $4 Million November Operating Income
------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Excel Maritime Carriers Ltd., the operator of 38 dry-
bulk vessels, generated $4 million of income from operations in
November on revenue of $17.1 million.

According to the report, the month's net loss was $1.9 million
after taking into account $2.6 million in reorganization costs and
$3.2 million in interest expense.

From the inception of the bankruptcy reorganization in July, total
income from operations was $1.9 million on revenue of $73.2
million, according to operating reports filed with the U.S.
Bankruptcy Court in White Plains, New York.

Excel may not be required to file too many more monthly reports.
Jan. 27 is the date for a confirmation hearing on approval of the
reorganization plan supported by the official committee of
unsecured creditors and holders of 83 percent of the senior
secured notes. The plan submitted last month replaced a
reorganization negotiated before the Chapter 11 filing in July.

For $765 million in claims, senior lenders will receive a new $300
million five-year secured term loan and 83.3 percent of the new
stock. The midpoint enterprise value of the reorganized company is
$630 million, or less than senior secured debt, according to the
court-approved disclosure statement.

Unsecured creditors of the Athens-based parent Excel, holding
claims totaling $163.4 million, are to receive 8 percent of the
new stock along with the right to purchase 2.9 percent more for
$10 million, at prices ranging from $16.25 to $17.25 a share.

Excel's balance sheet for December 2011 had assets of $2.72
billion and liabilities totaling $1.16 billion. Revenue of $356.9
million in 2011 resulted in a $161.5 million operating loss and a
$211.6 million net loss. The operating loss included a $146.7
million asset-impairment charge.

                       About Excel Maritime

Based in Athens, Greece, Excel Maritime Carriers Ltd. --
http://www.excelmaritime.com/-- is an owner and operator of dry
bulk carriers and a provider of worldwide seaborne transportation
services for dry bulk cargoes, such as iron ore, coal and grains,
as well as bauxite, fertilizers and steel products.  Excel owns a
fleet of 40 vessels and, together with 7 Panamax vessels under
bareboat charters, operates 47 vessels (5 Capesize, 14 Kamsarmax,
21 Panamax, 2 Supramax and 5 Handymax vessels) with a total
carrying capacity of approximately 3.9 million DWT.  Excel Class A
common shares have been listed since Sept. 15, 2005, on the New
York Stock Exchange (NYSE) under the symbol EXM and, prior to that
date, were listed on the American Stock Exchange (AMEX) since
1998.

The company blamed financial problems on low charter rates.

The balance sheet for December 2011 had assets of $2.72 billion
and liabilities totaling $1.16 billion.  Excel owes $771 million
to secured lenders with liens on almost all assets.  There is
$150 million owing on 1.875 percent unsecured convertible notes.

Excel Maritime filed a Chapter 11 petition (Bankr. S.D.N.Y. Case
No. 13-23060) on July 1, 2013, in New York after signing an
agreement where secured lenders owed $771 million support a
reorganization plan filed alongside the petition.  The Debtor
disclosed $35,642,525 in assets and $1,034,314,519 in liabilities
as of the Chapter 11 filing.

Excel, which sought bankruptcy with a number of affiliates, has
tapped Jay M. Goffman, Esq., Mark A. McDermott, Esq., Shana E.
Elberg, Esq., and Suzanne D.T. Lovett, Esq,. at Skadden, Arps,
Slate, Meagher & Flom LLP, as counsel; Miller Buckfire & Co. LLC,
as investment banker; and Global Maritime Partners Inc., as
financial advisor.

A five-member official committee of unsecured creditors was
appointed by the U.S. Trustee.  The Creditors' Committee is
represented by Michael S. Stamer, Esq., Sean E. O'Donnell, Esq.,
and Sunish Gulati, Esq., at Akin Gump Strauss Hauer & Feld LLP, in
New York; and Sarah Link Schultz, Esq., at Akin Gump Strauss Hauer
& Feld LLP, in Dallas, Texas.  Jefferies LLC serves as the
Committee's investment banker.

John J. Monaghan, Esq. -- john.monaghan@hklaw.com -- at Holland &
Knight LLP, serves as counsel to the Steering Committee.

Roberston Maritime Investors LLC is represented by Hugh Ray, Esq.,
at McKool Smith.  Oaktree Capital Management and certain of its
affiliates are represented by Alan W. Kornberg, Esq., and
Elizabeth R. McColm, Esq. -- akornberg@paulweiss.com and
emccolm@paulweiss.com -- at Paul Weiss Rifkind Wharton & Garrison
LLP.


FLETCHER INT'L: Jan. 14 Hearing on Adequacy of Plan Outline
-----------------------------------------------------------
The Bankruptcy Court will convene a hearing on Jan. 14, 2014, at
9:45 a.m., to consider approval of the Trustee's Report and
Disclosure Statement filed by Richard J. Davis, the Chapter 11
trustee for Fletcher International, Ltd.

A summary of the Chapter 11 trustee's Plan of Liquidation for the
Debtor was reported in the Troubled Company Reporter on Nov. 29,
2013.  Under the Plan:

    * Holders of administrative claims, priority tax claims and
      secured claims are unimpaired and will recover 100% of their
      claims.

    * General unsecured creditors are impaired and each will have
      the option of receiving (a) a pro rata share of the
      "liquidation recoveries" or (ii) cash in full payment for
      its allowed claim of $10,000 or less.

    * Pursuant to the Investor Settlement, claims held by these
      parties will be compromised, settled, and allowed in these
      amounts:

           Claimant                                 Amount
           --------                                 ------
      Arbitrage and the Arbitrage JOLs        $110.0 million
      Leveraged and the Leveraged JOLs          $5.0 million
      Alpha and the Alpha JOLs                  $1.6 million

    * Claims of the Louisiana Pension Funds will be allowed in the
      amount of $3 million, provided that the Funds vote to accept
      the Plan.

    * All insider claims will be extinguished.

    * All equity interests in the Debtor will be canceled and
      extinguished.

The Chapter 11 trustee will be retained as the plan administrator.

The Investor Settlement will be presented to the Court for
approval as part of the confirmation.  The parties to the
Settlement are: the Chapter 11 trustee, the feeder funds Fletcher
Fixed Income Alpha Fund, Ltd., Fletcher Income Arbitrage Fund,
Ltd., and the FIA Leveraged Fund, Ltd., and the and their joint
official liquidators (JOLs) in proceedings in the Cayman Islands.

Under the Investor Settlement, the parties have agreed to (i) pool
their respective rights and interest with respect to claims
against insiders of the Fletcher funds and related entities and
other parties, including firms Grant Thornton LLP and Skadden,
Arps, Slate, Meagher & Flom LLP, and (i) cooperate with the plan
administrator and the advisory board with respect to the
prosecution and settlement of those claims.

The claims -- principally fraud, breach of fiduciary duty,
negligence and similar tort claims against insiders and affiliates
and certain service providers and professionals -- will be pooled
together with similar claims belonging to the Debtor's feeder
funds and certain of its ultimate investors.

Recoveries on account of pooled claims will be used first, to pay
recovery costs, including attorney's fees and other professional
fees; second, to reimburse FILB for any advances of recovery costs
made by it; third, to fund the "operating reserve"; and fourth, to
the parties to the Investor Settlement, as follows:

  (i) 26.8% to the Debtor's estate, for distribution in accordance
      with the Plan;

(ii) 26.8% to the Arbitrage JOLs to be distributed in accordance
      with the orders entered in the liquidation proceedings in
      the Cayman Islands;

(iii) 26.8% to the Leveraged JOLs to be distributed in accordance
      with the orders entered in the liquidation proceedings in
      the Cayman Islands; and

(iv) 19.6% to the Alpha JOLs to be distributed in accordance with
      the orders entered in the liquidation proceedings in the
      Cayman Islands.

A copy of the Trustee's Plan is available for free at:

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

A copy of the Trustee's Final Report and Disclosure Statement is
available for free at:

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

                 About Fletcher International

Fletcher International, Ltd., filed a bare-bones Chapter 11
petition (Bankr. S.D.N.Y. Case No. 12-12796) on June 29, 2012, in
Manhattan.  The Bermuda exempted company estimated assets and
debts of $10 million to $50 million.  The bankruptcy documents
were signed by its president and director, Floyd Saunders.

David R. Hurst, Esq., at Young Conaway Stargatt & Taylor, LLP, in
New York, serves as counsel and Appleby (Bermuda) Limited serves
as special Bermuda counsel.  The Debtor disclosed $52,163,709 in
assets and $22,997,848 in liabilities as of the Chapter 11 filing.

Fletcher International Ltd. is managed by the investment firm of
Alphonse "Buddy" Fletcher Jr.

Fletcher Asset Management was founded in 1991.  During its initial
four years, FAM operated as a broker dealer trading various debt
and equity securities and making long-term equity investments.
Then, in 1995, FAM began creating and managing a family of private
investment funds.

The Debtor is a master fund in the Fletcher Fund structure.  As a
master fund, it engages in proprietary trading of various
financial instruments, including complex, long-term, illiquid
investments.

The Debtor is directly owned by Fletcher Income Arbitrage Fund and
Fletcher International Inc., which own roughly 83% and 17% of the
Debtor's common shares, respectively.  Arbitrage's direct parent
entities are Fletcher Fixed Income Alpha Fund and FIA Leveraged
Fund, both of which are incorporated in the Cayman Islands and are
subject to liquidation proceedings in that jurisdiction, and which
own roughly 76% and 22% of Arbitrage's common stock, respectively.
The Debtor currently has a single subsidiary, The Aesop Fund Ltd.

After filing for Chapter 11 protection, Fletcher immediately
started a lawsuit in bankruptcy court to stop the involuntary
bankruptcy in Bermuda.  Judge Gerber at least temporarily halted
liquidators appointed in the Cayman Islands from moving ahead with
proceedings in Bermuda.  The lawsuit to halt the Bermuda
liquidation is Fletcher International Ltd. v. Fletcher Income
Arbitrage Fund, 12-01740, in the same court.

Richard J. Davis, Chapter 11 trustee appointed in the case, has
hired Michael Luskin, Esq., at Luskin, Stern & Eisler LLP as his
counsel.


FOX & HOUND: Jan. 7 Hearing on Auction Rules for Restaurants
------------------------------------------------------------
F & H Acquisition Corp., et al., are slated to seek approval at a
hearing on Jan. 7, 2014, at 12:00 p.m. of proposed bidding and
auction procedures for their Fox & Hound, Champps, and Bailey's
Sports Grille casual dining restaurants.  Objections to the
proposed auction rules are due Jan. 17, 2014.

Under the proposed procedures, the company wants initial bids
submitted by Feb. 25 and an auction by March 4.  No buyer is yet
under contract.

The Debtors engaged Imperial Capital LLC in February 2013 to
evaluate strategic alternatives and Imperial has already contacted
164 parties, including banks and non-institutional investors.  The
Debtors received eight indications of interest from potential
purchasers.  The Debtors conducted five meetings with potential
purchasers.  In October, Imperial contacted nine new possible
buyers and 22 previously-contacted buyers but, notwithstanding
extensive negotiations, the Debtors have not to come to terms on a
stalking horse agreement as of the Petition Date.

To ensure the Debtors receive the highest and best offer for the
sale of substantially all of their assets, the Debtors, together
with Imperial, will continue the marketing process for the sale of
the Debtors' assets pursuant to 11 U.S.C. Sec. 363.

The Debtors reserve the right to select prior to the auction a
stalking horse bidder, which will be entitled to bid protections.
Bidding protections, according to the Debtors, may include a
break-up fee equal to not more than 3% of the purchase price, and
reasonable expense reimbursement.

The Debtors say that the timetable is in accordance with the
milestones required by the lenders providing the DIP Financing:

        Sale Milestone                   Deadline
        --------------                   --------
Entry of Bid Procedures Order            Jan. 8, 2014
Qualified Bids Due                       Feb. 25, 2014
Commencement of the Auction              Mar. 4, 2014
Entry of Sale Order                      Mar. 7, 2014
Closing                                  Mar. 26, 2014

A copy of the declaration of James Zielke in support of the
Debtors' chapter 11 petitions and first day motions is available
for free at:

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

                      About Fox and Hound

Wichita, Kansas-based F & H Acquisition Corp., et al., owners of
the Fox & Hound, Champps, and Bailey's Sports Grille casual dining
restaurants, filed a Chapter 11 petition (Bankr. D. Del. LOead
Case No. 13-13220) on Dec. 16, 2013, to quickly sell their assets.

As of the bankruptcy filing, the Debtors have 101 restaurants
located in 27 states and 6,000 employees.  Sales decreased by
approximately 9 percent over the past two years.  The Debtors also
experienced significant inflation in commodity prices, energy
prices and labor costs.

F&H estimated assets in excess of $100 million.  According to a
court filing, outstanding debt obligations total $119 million,
including $68.4 million owing on a first-lien loan with General
Electric Capital Corp. as agent.  The $11.2 million second-lien
obligation has Cerberus Business Finance LLC as agent.  Unsecured
trade suppliers and landlords are owed $11.2 million.

The senior lenders are to provide $9.6 million in financing for
the bankruptcy, with $3.5 million on an interim basis.

The parent holding company, F&H Acquisition Corp., is based in
Wichita, Kansas.

The Debtors have tapped Young, Conaway, Stargatt & Taylor, LLP, as
local counsel, Olshan Frome Wolosky LLP as general counsel,
Imperial Capital LLC as financial advisor, and Epiq Bankruptcy
Solutions as claims and noticing agent.


FOX & HOUND: Proposes $9.6-Mil. DIP Financing from GE Capital
-------------------------------------------------------------
F & H Acquisition Corp., et al.'s first-lien lenders support a
sale process under Section 363 of the Bankruptcy Code, and have
agreed to provide necessary debtor in possession financing to
further the process.

Accordingly, the Debtors are asking the Court to approve a DIP
Facility which, if approved, will, among other things, provide the
Debtors with:

  (i) a postpetition revolving credit facility in a principal
amount not to exceed approximately $3.5 million on an interim
basis and approximately $9.6 million on a final basis, and

(ii) a postpetition letter of credit facility comprised of the
prepetition letters of credit, including any renewals thereof, in
an aggregate face amount not to exceed $2.269 million, plus $1
million in postpetition letters of credit (to be applied against
the postpetition revolving facility).

The Debtors are also seeking approval to use cash collateral.

Bankruptcy Judge Kevin Gross has granted interim approval to the
DIP financing.  A final hearing is slated for Jan. 7, 2014, at
12 noon.  A copy of the Interim DIP Financing Order is available
for free at:

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

First lien-lenders led by General Electric Capital Corporation, as
agent, are providing the DIP financing.  As of the bankruptcy
filing, about $68.4 million in principal is owed to GECC and other
first-lien secured lenders.

GECC has consented to the Debtors' use of cash collateral in the
ordinary course of business and in accordance with the budget,
subject to the grant of adequate protection.  Cerberus Business
Finance, LLC, as agent for second lien lenders, has likewise
consented.

The DIP facility will mature on March 31, 2014.  But the Debtors
are required to achieve these milestones:

        Sale Milestone                     Deadline
        --------------                     --------
Hearing on Bid Procedures                Jan. 7, 2014
Entry of Bid Procedures Order            Jan. 8, 2014
Qualified Bids Due                       Feb. 25, 2014
Commencement of the Auction              Mar. 4, 2014
Hearing to Approve Sale                  Mar. 6, 2014
Entry of Sale Order                      Mar. 7, 2014
Closing                                  Mar. 26, 2014

The outstanding loans and other obligations under the revolver
facility will bear interest at a fluctuating rate equal to the
LIBOR Rate plus 9% per annum or the Base Rate plus 8% per annum.
All undrawn postpetition L/Cs under the revolver facility are
subject to a letter of credit fee at a non-default rate equal to
9% per annum.  Default interest for all obligations under the
revolver facility will be an additional 2% per annum over the rate
otherwise applicable and such interest will be payable on demand.

Upon entry of the final order, all outstanding pre-petition
secured obligations will be "rolled-up" into the DIP Facility such
that they constitute DIP obligations.

The Debtors need financing to fund the administration of the
chapter 11 cases and implement the efficient, public process
through which the Debtors intend to sell their businesses as a
going concern.

                      About Fox and Hound

Wichita, Kansas-based F & H Acquisition Corp., et al., owners of
the Fox & Hound, Champps, and Bailey's Sports Grille casual dining
restaurants, filed a Chapter 11 petition (Bankr. D. Del. LOead
Case No. 13-13220) on Dec. 16, 2013, to quickly sell their assets.

As of the bankruptcy filing, the Debtors have 101 restaurants
located in 27 states and 6,000 employees.  Sales decreased by
approximately 9 percent over the past two years.  The Debtors also
experienced significant inflation in commodity prices, energy
prices and labor costs.

F&H estimated assets in excess of $100 million.  According to a
court filing, outstanding debt obligations total $119 million,
including $68.4 million owing on a first-lien loan with General
Electric Capital Corp. as agent.  The $11.2 million second-lien
obligation has Cerberus Business Finance LLC as agent.  Unsecured
trade suppliers and landlords are owed $11.2 million.

The senior lenders are to provide $9.6 million in financing for
the bankruptcy, with $3.5 million on an interim basis.

The parent holding company, F&H Acquisition Corp., is based in
Wichita, Kansas.

The Debtors have tapped Young, Conaway, Stargatt & Taylor, LLP, as
local counsel, Olshan Frome Wolosky LLP as general counsel,
Imperial Capital LLC as financial advisor, and Epiq Bankruptcy
Solutions as claims and noticing agent.


FOX & HOUND: Seeks to Reject Leases for 24 Closed Restaurants
-------------------------------------------------------------
F & H Acquisition Corp., et al., owners of 101 Fox & Hound,
Champps, and Bailey's Sports Grille casual dining restaurants,
said they have ceased operations at approximately 24 restaurant
locations as part of their prepetition and ongoing restructuring
efforts.

Generally, the Debtors do not own the real property in which their
restaurants are or were operated.  Instead, the Debtors lease
nonresidential real property from numerous lessors and other
counterparties.

The Debtors accordingly seek bankruptcy court approval to reject
the leases for the 24 locations, nunc pro tunc to the Petition
Date.

A list of the parties to the rejected leases and the store
locations is available for free at:

   http://bankrupt.com/misc/Fox_and_Hound_24_Rejected_Leases.pdf

By rejecting the leases, the Debtors believe they will be able to
save approximately $3.8 million per year.  Currently, the Debtors
continue to be obligated to pay rent under the leases even though
they have ceased operations at the premises.

The Court will fix the date for counterparties to file any and all
claims for damages arising from the Debtors' rejection of the
leases.

A hearing on the rejection motion is slated for Jan. 7.

                      About Fox and Hound

Wichita, Kansas-based F & H Acquisition Corp., et al., owners of
the Fox & Hound, Champps, and Bailey's Sports Grille casual dining
restaurants, filed a Chapter 11 petition (Bankr. D. Del. LOead
Case No. 13-13220) on Dec. 16, 2013, to quickly sell their assets.

As of the bankruptcy filing, the Debtors have 101 restaurants
located in 27 states and 6,000 employees.  Sales decreased by
approximately 9 percent over the past two years.  The Debtors also
experienced significant inflation in commodity prices, energy
prices and labor costs.

F&H estimated assets in excess of $100 million.  According to a
court filing, outstanding debt obligations total $119 million,
including $68.4 million owing on a first-lien loan with General
Electric Capital Corp. as agent.  The $11.2 million second-lien
obligation has Cerberus Business Finance LLC as agent.  Unsecured
trade suppliers and landlords are owed $11.2 million.

The senior lenders are to provide $9.6 million in financing for
the bankruptcy, with $3.5 million on an interim basis.

The parent holding company, F&H Acquisition Corp., is based in
Wichita, Kansas.

The Debtors have tapped Young, Conaway, Stargatt & Taylor, LLP, as
local counsel, Olshan Frome Wolosky LLP as general counsel,
Imperial Capital LLC as financial advisor, and Epiq Bankruptcy
Solutions as claims and noticing agent.


FOX & HOUND: Taps Epiq as Claims & Noticing Agent
-------------------------------------------------
F & H Acquisition Corp., et al., sought and obtained approval to
employ Epiq Bankruptcy Solutions, LLC, as claims and noticing
agent.

The Debtors anticipate that there will be thousands of entities to
be noticed in these cases.  In view of the number of anticipated
claimants and the complexity of the Debtors' businesses, the
Debtors submit that the appointment of a claims and noticing agent
is both necessary and in the best interests of their estates and
their creditors.

Epiq agreed to a $25,000 retainer.

As claims agent, Epiq will charge the Debtors at these rates:

   Position                                  Hourly Rate
   --------                                  -----------
Clerical                                     $35 to $45
Case Manager                                 $50 to $80
IT/ Programming                              $70 to $130
Senior Case Manager                          $85 to $130
Director of Case Management                 $145 to $195
Case Analyst                                 $65 to $110
Consultant/Senior Consultant                $145 to $190
Director/Vice President Consulting              $225
Communication Counselor                         $250
Executive Vice President                        $265

For its noticing services, Epiq will charge $50 per 1,000 e-mails,
and $0.10 per page for facsimile noticing.  For database
maintenance, the firm will charge $0.10 per record per month, with
fees for the first three months waived.  For-online claim filing
services, Epiq will charge $4.50 per filed claim.

                      About Fox and Hound

Wichita, Kansas-based F & H Acquisition Corp., et al., owners of
the Fox & Hound, Champps, and Bailey's Sports Grille casual dining
restaurants, filed a Chapter 11 petition (Bankr. D. Del. LOead
Case No. 13-13220) on Dec. 16, 2013, to quickly sell their assets.

As of the bankruptcy filing, the Debtors have 101 restaurants
located in 27 states and 6,000 employees.  Sales decreased by
approximately 9 percent over the past two years.  The Debtors also
experienced significant inflation in commodity prices, energy
prices and labor costs.

F&H estimated assets in excess of $100 million.  According to a
court filing, outstanding debt obligations total $119 million,
including $68.4 million owing on a first-lien loan with General
Electric Capital Corp. as agent.  The $11.2 million second-lien
obligation has Cerberus Business Finance LLC as agent.  Unsecured
trade suppliers and landlords are owed $11.2 million.

The senior lenders are to provide $9.6 million in financing for
the bankruptcy, with $3.5 million on an interim basis.

The parent holding company, F&H Acquisition Corp., is based in
Wichita, Kansas.

The Debtors have tapped Young, Conaway, Stargatt & Taylor, LLP, as
local counsel, Olshan Frome Wolosky LLP as general counsel,
Imperial Capital LLC as financial advisor, and Epiq Bankruptcy
Solutions as claims and noticing agent.


FRESH & EASY: Jan. 22 Set as Claims Bar Date
--------------------------------------------
The Bankruptcy Court set Jan. 22, 2014, at 4:00 p.m. Eastern Time
as the deadline for entities to file proofs of claims against
Fresh & Easy Neighborhood Market Inc., the supermarket chain
renamed Old FENM Inc. after most of the business was sold.

Government entities have until March 31, 2014, at 4:00 p.m.
Eastern Time, to file proofs of claim.

                  About Fresh & Easy Neighborhood

Fresh & Easy Neighborhood Market Inc., and its affiliate filed
Chapter 11 petitions (Bankr. D. Del. Case Nos. 13-12569 and
13-12570) on Sept. 30, 2013.  The petitions were signed by James
Dibbo, chief financial officer.  Judge Kevin J. Carey presides
over the case.

Fresh & Easy owes $738 million to Cheshunt, England-based Tesco,
the U.K.'s biggest retailer. Fresh & Easy never made a profit and
lost an average of $22 million a month in the 12 months ended in
February, according to court papers.

Jones Day serves as lead bankruptcy counsel.  Richards, Layton &
Finger, P.A., serves as local Delaware counsel.  Alvarez & Marsal
North America, LLC, serves as financial advisors, and Alvarez &
Marsal Securities, LLC, serves as investment banker.  Prime Clerk
LLC acts as the Debtors' claims and noticing agent.  Gordon
Brothers Group, LLC, and Tiger Capital Group, LLC, serves as the
Debtors' consultant. The Debtors estimated assets of at least $100
million and liabilities of at least $500 million.

Roberta A. DeAngelis, U.S. Trustee for Region 3, appointed five
creditors to serve in the Official Committee of Unsecured
Creditors in the Chapter 11 cases of Fresh & Easy Neighborhood
Market Inc., et al.  Pachulski Stang Ziehi & Jones LLP serves as
counsel to the Committee. FTI Consulting, Inc. serves as its
financial advisor.

The Debtors closed, on or about Nov. 26, 2013, the sale of about
150 supermarkets plus a production facility in Riverside,
Califorinia, to Ron Buckle's Yucaipa Cos.  Pursuant to the sale
terms, the bankruptcy company changed its name, and the name of
the case, to Old FENM Inc.


GENERAL MOTORS: U.S. Vice President of Chevrolet Marketing Resigns
------------------------------------------------------------------
Jeff Bennett, writing for The Wall Street Journal, reported that
in another high-profile executive shuffle, General Motors Co. U.S.
Vice President of Chevrolet Marketing Chris Perry resigned from
his position on Dec. 17.

According to the report, Mr. Perry, 53, had been with the auto
maker since August 2010 and had held several marketing positions.

"GM would like to thank Chris for his dedication and
contributions, and wishes him well in all his future endeavors,"
Alan Batey, executive Vice President of Chevrolet said in an email
statement, the report cited.

The company declined to comment on the reason behind Mr. Perry's
resignation, the report noted.

Mr. Perry is the latest in a growing list of executive changes as
the auto maker realigns itself, especially within its Chevrolet
business, the report related.  The auto maker announced earlier
this month it would stop selling the brand in Europe and
concentrate on promoting Opel.

                     About Motors Liquidation

General Motors Corporation and three of its affiliates filed for
Chapter 11 protection (Bankr. S.D.N.Y. Lead Case No. 09-50026) on
June 1, 2009.  The Honorable Robert E. Gerber presides over the
Chapter 11 cases.  Harvey R. Miller, Esq., Stephen Karotkin,
Esq., and Joseph H. Smolinsky, Esq., at Weil, Gotshal & Manges
LLP, assist the Debtors in their restructuring efforts.  Al Koch
at AP Services, LLC, an affiliate of AlixPartners, LLP, serves as
the Chief Executive Officer for Motors Liquidation Company.  GM
is also represented by Jenner & Block LLP and Honigman Miller
Schwartz and Cohn LLP as counsel.  Cravath, Swaine, & Moore LLP
is providing legal advice to the GM Board of Directors.  GM's
financial advisors are Morgan Stanley, Evercore Partners and the
Blackstone Group LLP.  Garden City Group is the claims and notice
agent of the Debtors.

The U.S. Trustee appointed an Official Committee of Unsecured
Creditors and a separate Official Committee of Unsecured
Creditors Holding Asbestos-Related Claims.  Lawyers at Kramer
Levin Naftalis & Frankel LLP served as bankruptcy counsel to the
Creditors Committee.  Attorneys at Butzel Long served as counsel
on supplier contract matters.  FTI Consulting Inc. served as
financial advisors to the Creditors Committee.  Elihu Inselbuch,
Esq., at Caplin & Drysdale, Chartered, represented the Asbestos
Committee.  Legal Analysis Systems, Inc., served as asbestos
valuation analyst.

The Bankruptcy Court entered an order confirming the Debtors'
Second Amended Joint Chapter 11 Plan on March 29, 2011.  The Plan
was declared effect on March 31.

On Dec. 15, 2011, Motors Liquidation Company was dissolved.  On
the Dissolution Date, pursuant to the Plan and the Motors
Liquidation Company GUC Trust Agreement, dated March 30, 2011,
between the parties thereto, the trust administrator and trustee
-- GUC Trust Administrator -- of the Motors Liquidation Company
GUC Trust, assumed responsibility for the affairs of and certain
claims against MLC and its debtor subsidiaries that were not
concluded prior to the Dissolution Date.


GULFCO HOLDING: Creditors' Meeting Scheduled for Jan. 3
-------------------------------------------------------
The U.S. Trustee for Region 3 will convene a meeting of creditors
pursuant to 11 U.S.C. Sec. 341 on Jan. 3, 2014, at 11:00 a.m., in
the Chapter 11 case of Gulfco Holding Corp.  The meeting will be
held at J. Caleb Boggs Federal Building, 844 King St., Room 5209,
Wilmington, Delaware.

Headquartered in Wilton, Connecticut, Gulfco Holding Corp. filed a
bare-bones Chapter 11 petition (Bankr. D. Del. Case No. 13-13113)
on Nov. 27, 2013.

The Hon. Brendan Linehan Shannon presides over the case.  Michael
Jason Barrie, Esq., at Benesch Friedlander Coplan & Aronoff LLP
represents the Debtor in its restructuring effort.  The Debtor
estimated $10 million to $50 million in assets and debts.

According to the list of top unsecured creditors, PNC Bank,
National Association is owed $5.4 million and Prospect Capital
Corp. has a disputed claim of $40.95 million on account of its
shares of stock in Gulf Coast Machine & Supply Company.

Altus Capital Partners II, L.P. and its affiliates, Franklin Park
Co-Investment Fund, L.P., David LeBlanc, and Steven Tidwell own
shares in the company.

Elizabeth A. Burgess, as president and CEO, signed the Chapter 11
petition.


IKARIA INC: S&P Lowers CCR to 'B-' & Removes Rating From Watch
--------------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its corporate
credit rating on Hampton, N.J.-based Ikaria Inc. to 'B-' from 'B'.
S&P removed the rating from CreditWatch, where it placed it with
negative implications on Nov. 26, 2013.  The outlook is stable.

The downgrade stems from S&P's assessment of Ikaria's management
and governance as "weak", which results in a negative adjustment
of one notch.

S&P also lowered its issue-level ratings on the company's senior
secured and first-lien debt to 'B' and the second-lien debt to
'CCC'.  The recovery ratings are unchanged.

"The rating on Ikaria reflects our assessment of business risk as
"weak" and our assessment of financial risk as "highly leveraged".
The weak business risk profile is underpinned by its small size
and single-product focus despite a well-established market
position for INOMAX that we believe will remain largely intact,"
said credit analyst Michael Berrian.  "Our assessment of financial
risk as highly leveraged is supported by an aggressive financial
policy and our expectation that Ikaria's adjusted leverage ratio
will remain above 6.0x and that funds from operations (FFO) to
total debt will remain below 12%."

The stable outlook reflects S&P's belief that leverage will remain
more than 6x over the near-term, despite its expectation of low-
single-digit revenue growth and modestly higher margins that S&P
expects will translate into stable free cash flow.

                         Downside scenario

Given strong cash flows and management's focus on near term debt
reduction, a lower rating would most likely be prompted by
developments that would elevate refinancing risk.  S&P could lower
the rating if competitors are successful in penetrating current
patents on INOMAX, thereby increasing the likelihood of near-term
competition.  In S&P's opinion, this scenario could lead to
declining EBITDA and cash flows, which would jeopardize Ikaria's
ability to refinance its debt obligations at maturity.

                          Upside scenario

S&P could raise its corporate credit rating if it becomes
confident that Ikaria's financial policy evolves to focus on debt
reduction.  A pattern of debt reduction would then enable S&P to
be more comfortable with refinancing risk.  In turn, this could
prompt reconsideration of S&P's current assessment of management
and governance as weak.


IMMUCOR INC: S&P Revises Outlook on 'B+' CCR to Negative
--------------------------------------------------------
Standard & Poor's Ratings Services said it affirmed its 'B+'
corporate credit rating on Immucor Inc. and revised its outlook to
negative from stable.  At the same time, S&P affirmed its 'BB-'
issue-level rating on the senior secured debt, with a recovery
rating of '2', indicating its expectation for substantial (70% to
90%) recovery in the event of a payment default.  S&P also
affirmed its 'B-' issue-level rating on the senior unsecured debt,
with a recovery rating of '6', indicating its expectation for
negligible (0% to 10%) recovery in the event of a default.

S&P is revising its outlook to negative to reflect its view that
Immucor's financial performance in fiscal year 2014 might fall
meaningfully short of S&P's expectations, based on its recent
performance.  In the first quarter of 2014, Immucor's adjusted
EBITDA margin contracted by 600 basis points (bps) and cash flow
was negative.  The EBITDA margin contraction resulted from a full-
quarter consolidation of the lower-margin Lifecodes business,
product mix shift toward instruments, and continued investment in
development projects.  Cash flow generation was negatively
affected by one-time items related to the Lifecodes acquisition.

While S&P expects a rapid rebound in Immucor's operating trends
within the following several quarters driven by the higher-margin
reagent sales, synergies, and cost savings, S&P recognizes that
its first quarter results introduce an element of risk to its
forecast.  While S&P expects reagent sales to improve, global
demand has been weak for more than two years.  In addition, there
is a risk that Immucor might not be able to realize all the
projected synergies from combining two relatively different
businesses.

"The ratings on Norcross, Ga.-based Immucor Inc. continue to
reflect a "fair" business risk profile, based on its strong market
position within the blood typing industry," said credit analyst
Maryna Kandrukhin.  "The rating also reflects our assessment of
its "highly leveraged" financial risk profile, based on the
projected 2014 adjusted leverage ratio above 6.0x and funds from
operation (FFO)-to-debt ratio below 12%. Prospects for good cash
flow generation support our favorable peer analysis."

The negative outlook reflects S&P's view that, while it expects
Immucor's performance to improve over the next three quarters,
there is risk to S&P's forecast, based on the company's first
quarter operating results and a challenging demand environment.

                          Downside Scenario

S&P could lower the rating if anticipated recovery in operating
trends does not materialize.  If margins remain depressed, the
company is not likely to generate free cash flow and leverage is
likely to remain above 7.0x.  In that case, S&P might consider
removing a one-notch uplift resulting from a "favorable"
comparable rating modifier assessment and lower Immucor's
corporate rating to 'B'.

                         Upside scenario

S&P would consider revising the outlook to stable once it has a
higher confidence level that Immucor will achieve its base case
forecast.  S&P estimates this could happen if the company's
adjusted EBITDA margin expanded by 250-300 bps from its first
quarter level and resulted in meaningful positive cash flow
generation in line with S&P's projections.


INT'L FOREIGN EXCHANGE: Hires Logan & Company as Admin Advisor
--------------------------------------------------------------
International Foreign Exchange Concepts Holdings, Inc. and its
debtor-affiliates seek authorization from the U.S. Bankruptcy
Court for the District of New York to employ Logan & Company Inc.
as administrative advisor, nunc pro tunc to Oct. 18, 2013.

The Debtors require Logan & Company to:

   (a) assist the Debtors in the preparation of their Schedules of
       Assets and Liabilities and Statements of Financial Affairs;

   (b) assist the Debtors in managing claims reconciliation and
       objection process, identifying for review by the Debtors
       those proofs of claim subject to possible procedural
       objections, those that are inconsistent with the Schedules,
       and those that supersede scheduled liabilities, inputting
       the Debtors' objection determination in the claims
       database, and preparing exhibits for the Debtors' omnibus
       claims objections;

   (c) provide balloting and solicitation services to the Debtors
       as proponents of a plan of reorganization including
       assisting in the production of solicitation materials,
       tabulating creditor ballots on a daily basis, preparing
       voting results reports, drafting certification of voting
       results and providing court testimony with respect to
       balloting, solicitation and tabulation matters;

   (d) provide the Debtors with consulting and computer software
       support regarding the reporting and information management
       requirements of the bankruptcy administration process as it
       relates to its 327 Services;

   (e) educate and train the Debtors in the use of support
       software and providing Logan's Standard Reports as well as
       consulting and programming support for Debtor-requested
       reports, program modifications, database modification, and
       other features in accordance with the Logan Agreement; and

   (f) provide other balloting and administrative services as may
       be requested from time to time by the Debtors in accordance
       with the Logan Agreement and that are not otherwise allowed
       under the Section 156(c) Order.

Logan & Company will be paid at these hourly rates:

       Senior Account Manager            $225-$300
       Analyst and Project Manager       $125-$205
       Technology, Telecommunication
       and Programming Specialist        $140-$165
       Clerical and Administrative
       Support                           $50-$77

Logan & Company will also be reimbursed for reasonable out-of-
pocket expenses incurred.

Kathleen M. Logan, president of Logan & Company, assured the Court
that the firm is a "disinterested person" as the term is defined
in Section 101(14) of the Bankruptcy Code and does not represent
any interest adverse to the Debtors and their estates.

The Court for the Southern District of New York will hold a
hearing on the hiring on Jan. 3, 2014, at 9:45 a.m.  Objections,
if any, are due Jan. 2, 2014, at 4:00 p.m.

Logan & Company can be reached at:

       Kathleen M. Logan
       LOGAN & COMPANY, INC.
       546 Valley Road, Second Floor
       Upper Montclair, NJ 07043
       Tel: (973) 509-3190
       Fax: (973) 509-3191
       E-mail: klogan@loganandco.com

               About International Foreign Exchange

International Foreign Exchange Concepts Holdings, Inc., and
International Foreign Exchange Concepts, L.P., sought protection
under Chapter 11 of the Bankruptcy Code (Bankr. S.D.N.Y. Case No.
13-13380) on Oct. 17, 2013.

Judge Robert Gerber oversees the case.  Counsel to the Debtors is
Henry P. Baer, Jr., Esq., at Finn Dixon & Herling LLP, in
Stamford, Connecticut.  The Debtors' restructuring advisors is CDG
Group.  The Debtors' special counsel is Withers Bergman LLP.  The
Debtors' notice, claims, solicitation and balloting agent is Logan
& Company, Inc.

Counsel to AMF-FXC Finance LLC, the DIP lender, is Michael L.
Cook, Esq., and Christopher Harrison, Esq., at Schulte Roth &
Zabel LLP, in New York.


ISRA DEVELOPMENT: Case Summary & 5 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Isra Development, LLC
        1509 49th Street S.
        Gulfport, FL 33707

Case No.: 13-16448

Chapter 11 Petition Date: December 17, 2013

Court: United States Bankruptcy Court
       Middle District of Florida (Tampa)

Debtor's Counsel: Joel S Treuhaft, Esq.
                  PALM HARBOR LAW GROUP, P.A.
                  2997 ALT 19 STE B
                  Palm Harbor, FL 34683-1907
                  Tel: 727-797-7799
                  Fax: 727-213-6933
                  Email: jstreuhaft@yahoo.com

Total Assets: $1.68 million

Total Liabilities: $860,000

The petition was signed by Ariel Bergerman, managing member.

A list of the Debtor's five largest unsecured creditors is
available for free at http://bankrupt.com/misc/flmb13-16448.pdf


KENAN ADVANTAGE: S&P Rates New $76-Mil. Tranche D Term Loan 'BB-'
-----------------------------------------------------------------
Standard & Poor's Ratings Services said that its 'BB-' issue
rating and '2' recovery rating on Kenan Advantage Group Inc.'s
senior secured credit facilities remain unchanged after the
company upsized its U.S. dollar-equivalent Canadian term loan to
$135 million from $100 million.

At the same time, S&P assigned a 'BB-' issue-level rating to Kenan
Advantage's new $76 million tranche D term loan.  The company paid
down its existing term loan B by $74.5 million to $314 million.
S&P's rating conclusion reflects that the total amount of senior
secured debt is unchanged, therefore, there has been no change in
the recovery prospects for the senior secured lenders.

The 'B+' corporate credit rating and stable outlook also remain
unchanged.

RATINGS LIST

Kenan Advantage Group Inc.
Corporate Credit Rating              B+/Stable/--

Ratings Unchanged

Kenan Advantage Group Inc.
$135 mil sr sec credit facilities*   BB-
  Recovery Rating                     2

New Ratings

Kenan Advantage Group Inc.
$76 mil tranche D term loan          BB-
  Recovery Rating                     2

*Includes the $35 million add-on.


KKR FINANCIAL: S&P Puts 'BB' Preferred Stock Rating on Watch Pos.
-----------------------------------------------------------------
Standard & Poor's Ratings Services said it placed its 'BBB-' long-
term counterparty credit rating, 'BBB-' senior unsecured debt
rating, and 'BB' preferred stock rating on KKR Financial Holdings
LLC (KFN) on CreditWatch with positive implications.

The rating action follows KKR & Co. L.P.'s announcement that it
offered to acquire 100% of KFN in an all-stock transaction that
will require shareholder approval.  "We placed the ratings on
CreditWatch positive to reflect our view that KFN, as a subsidiary
of KKR & Co. (KKR; A/Stable/--), would likely benefit from some
degree of financial support from KKR.  We would recognize this
financial support by raising our counterparty credit rating upon
the close of the transaction," said Standard & Poor's credit
analyst Jeff Zaun.  S&P's 'bbb-' stand-alone credit profile (SACP)
on KFN will remain unchanged.  The SACP is based on the firm's
adequate capital levels, good asset liquidity, improved earnings,
and nonfinancial affiliation with KKR.  Partly offsetting these
positive factors are the high risk in the firm's investment
portfolio, its dependence on collateralized loan obligation and
other secured funding, and its vulnerability to investment-market
volatility.

In order to resolve the CreditWatch, which signals that S&P may
raise its ratings in the event this transaction closes, it will
meet with management to discuss further the strategic rationale to
determine whether S&P will designate KFN as "strategically
important" or "moderately strategic" to KKR under S&P's group
rating methodology.  If S&P determines that KFN is "strategically
important," it will raise its counterparty credit rating three
notches to 'A-' when the acquisition closes.  If S&P determines
that KFN is "moderately strategic," it will raise its counterparty
credit rating one notch to 'BBB' when the acquisition closes.


LIC CROWN: Urges Court to Approve Disclosure Statement
------------------------------------------------------
LIC Crown Mezz Borrower LLC, et al., has filed with the U.S.
Bankruptcy Court for the Southern District of New York a
memorandum of law in support of entry of an order approving the
Disclosure Statement explaining the Debtor's Plan.

According to Tracy L. Klestadt, Esq., at Klestadt & Winters, LLP,
the Debtors' Prepackaged Liquidating Plan dated Oct. 7, 2013,
represents the culmination of substantial efforts by multiple
parties to reach an expeditious, fair and equitable resolution of
the business and legal issues in the jointly administered cases.
These efforts have resulted in a plan of liquidation that provides
significant value for the Debtors' stakeholders.

A copy of the memorandum is available for free at:

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

As reported in the Troubled Company Reporter on Oct. 18, 2013,
under the Plan, which will be funded by the Debtors' assets,
claims against and Equity Interests in the Debtors are divided
into Classes and will receive the distributions and recoveries as
follows:

                               Est. Amount of
   Type of Claim               Allowed Claims     Est. Recovery
   -------------               --------------     -------------
   Administrative Claims                 $___          100%
   Priority Tax Claims                   $___          100%
   Fee Claims                             TBD          100%
   Other Priority Claims                 $___          100%
   Mortgage Lender Claim          $71,559,083          100%
   Mezzanine Lender Claim         $57,022,400           --
   General Unsecured Claims          $645,498          100%
   Equity Interests                       N/A           --

On the Effective Date, the Debtors will transfer and convey to the
designee of Factory Mezz, LLC, as Mezzanine Lender, the real
property commonly known as the Factory Building, located at 47-44
31st Street, Block 282, Lot 1, in Long Island, County of Queens,
in New York.  On the Effective Date, the Mezzanine Lender will
transfer to the Debtors for the benefit of holders of equity
interests $5.0 million, without set-offs or offset for any claims
or deductions not specifically contemplated under the Plan Support
and Cooperation Agreement dated Oct. 2, 2013, payable to Gerstein
Strauss & Rinaldi, Esqs.

A full-text copy of the Disclosure Statement dated Oct. 10, 2013,
is available for free at http://bankrupt.com/misc/LICds1010.pdf

LIC Crown Mezz Borrower LLC and its two affiliates sought
protection under Chapter 11 of the Bankruptcy Code on Oct. 10,
2013 (Case No. 13-13304, Bankr. S.D.N.Y.).  The Debtors' Chief
Restructuring Officer is Steven A. Carlson.

The Debtors are represented by Tracy L. Klestadt, Esq., and Joseph
C. Corneau, Esq. -- jcorneau@klestadt.com -- at KLESTADT &
WINTERS, LLP, in New York; and Victor Gerstein, Esq., at Gerstein
Strauss & Rinaldi LLP, in New York.

The Mezzanine Lender is represented by John H. Bae, Esq. --
jhbae@mintz.com -- and Kaitlin R. Walsh, Esq. -- KRWalsh@mintz.com
-- at Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C., in New
York; and Howard Schochet, Esq. -- schocheth@gtlaw.com -- at
Greenberg Traurig, LLP, in New York.

Mortgage Lender U.S. Bank National Association is represented by
W. Michael Bond, Esq. -- michael.bond@weil.com -- at Weil, Gotshal
& Manges LLP, in New York.


LIGHTSQUARED INC: Adjourns One Dot Auction to Dec. 19
-----------------------------------------------------
LightSquared Inc. announced that has further adjourned the auction
for One Dot Six Corp.'s wireless spectrum assets to Dec. 19, at
10:00 a.m. (prevailing Eastern time).

The auction was supposed to be conducted on Dec. 11.
LightSquared, however, received an instruction from the special
committee of the boards of directors, which oversees the sale, to
adjourn the auction.

The auction for One Dot assets is subject to further adjournment
or cancellation, and that the rights of parties involved are
reserved as to whether any bids submitted for those assets are
qualified bids, LightSquared said in a Dec. 16 notice filed in
U.S. Bankruptcy Court in Manhattan.

                      About LightSquared Inc.

LightSquared Inc. and 19 of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. S.D.N.Y. Lead Case No. 12-12080) on
May 14, 2012, to resolve regulatory issues that have prevented it
from building its coast-to-coast integrated satellite 4G wireless
network.

LightSquared had invested more than $4 billion to deploy an
integrated satellite-terrestrial network.  In February 2012,
however, the U.S. Federal Communications Commission told
LightSquared the agency would revoke a license to build out the
network as it would interfere with global positioning systems used
by the military and various industries.  In March 2012, the
Company's partner, Sprint, canceled a master services agreement.
LightSquared's lenders deemed the termination of the Sprint
agreement would trigger cross-defaults under LightSquared's
prepetition credit agreements.

LightSquared and its prepetition lenders attempted to negotiate a
global restructuring that would provide LightSquared with
liquidity and runway necessary to resolve its issues with the FCC.
Despite working diligently and in good faith, however,
LightSquared and the lenders were not able to consummate a global
restructuring on terms acceptable to all interested parties.

Lawyers at Milbank, Tweed, Hadley & McCloy LLP serve as counsel to
the Debtors.  Alvarez & Marsal North America, LLC, is the
financial advisor.  Kurtzman Carson Consultants LLC serves as
claims and notice agent.


LILY GROUP: Can Hire Tucker Hester as Attorneys
-----------------------------------------------
Lily Group, Inc. sought and obtained authorization from the U.S.
Bankruptcy Court for the Southern District of Indiana to employ
Tucker Hester Baker & Krebs, LLC, as attorneys.

The Debtor requires Tucker Hester to:

   (a) provide legal advice with respect to the Debtor's powers
       and duties as debtor-in-possession and management of its
       property;

   (b) take necessary action to avoid the attachment of any lien
       against the Debtor's property threatened by secured
       creditors holding liens;

   (c) prepare on behalf of the Debtor as debtor-in-possession
       necessary petitions, answers, orders, reports, and other
       legal papers; and

   (d) perform all other legal services for the Debtor as debtor-
       in-possession which may be necessary, inclusive of
       the preparation of petitions and orders respecting the sale
       or release of equipment not found to be necessary in the
       management of its property, to file petitions and orders
       for the borrowing of funds; and it is necessary for the
       Debtor to employ counsel for such professional services.

Tucker Hester professionals will be paid at these hourly rates:

       Attorneys
       ---------
       William J. Tucker         $425
       Joseph W. Hammes          $400
       John K. McDavid           $350
       Christopher E. Baker      $350
       Jeffrey M. Hester         $325
       Niccole R. Sadowski       $300
       Courtney E. Chilcote      $250
       Bradley J. Buchheit       $250
       Daniel A. Tucker          $250

       Paralegals
       ----------
       Kathy Shamblin            $125
       Tracy Wilkerson           $125
       Christine Ball            $125
       Michelle Murray           $125
       Rachel Bell               $125
       Tricia Hignight           $125
       Donna Adams               $125
       Selena Watson             $125
       Tammy Hudelson            $125
       Becca Taylor              $125
       Marsha Hetser             $125
       John J. Allman            $250

Tucker Hester will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Tucker Hester will receive an initial retainer in the sum of
$50,000 out of cash collateral and the DIP financing post-filing.

David R. Krebs, member of Tucker Hester, assured the Court that
the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code and does not represent any
interest adverse to the Debtors and their estates.

Lily Group Inc., the developer of an open-pit coal mine in Green
County, Indiana, filed a petition for Chapter 11 reorganization
(Bankr. S.D. Ind. Case No. 13-81073) on Sept. 23, 2013, in Terre
Haute, listing assets and debt both exceeding $10 million.  The
Debtor is represented by Courtney Elaine Chilcote, Esq., and David
R. Krebs, Esq., at Tucker, Hester, Baker & Krebs, LLC, in
Indianapolis, Indiana.


LILY GROUP: Files Schedules of Assets and Liabilities
-----------------------------------------------------
Lily Group Inc. filed with the Bankruptcy Court for the Southern
District of Indiana its schedules of assets and liabilities,
disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property               $18,489,630
  B. Personal Property           $11,400,348
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                               $20,693,296
  E. Creditors Holding
     Unsecured Priority
     Claims                                          $334,315
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                       $35,771,814
                                 -----------      -----------
        TOTAL                    $29,889,979      $56,799,426

Lily Group Inc., the developer of an open-pit coal mine in Green
County, Indiana, filed a petition for Chapter 11 reorganization
(Bankr. S.D. Ind. Case No. 13-81073) on Sept. 23, 2013, in Terre
Haute, listing assets and debt both exceeding $10 million.  The
Debtor is represented by Courtney Elaine Chilcote, Esq., and David
R. Krebs, Esq., at Tucker, Hester, Baker & Krebs, LLC, in
Indianapolis, Indiana.


LOEHMANN'S HOLDINGS: Wins Jan. 28 Extension for Schedules
---------------------------------------------------------
Loehmann's Holdings Inc. and its debtor-affiliates sought and
obtained an order extending the deadline to file their schedules
of assets and liabilities and statements of financial affairs for
30 days through and including Jan. 28, 2014, without prejudice to
the Debtors' rights to seek an additional extension.

The Debtors said that due to the size and complexity of their
business operations, the geographical spread of their operations,
the number of creditors, and the substantial burden already
imposed on their management by the commencement of the Chapter 11
cases, they won't be able to submit the documents by the original
deadline.

                         About Loehmann's

Discount retailer Loehmann's Holdings Inc., and two affiliates
sought Chapter 11 protection (Bankr. S.D.N.Y. Lead Case No.
13-14050) on Dec. 15, 2013.

This is Loehmann's third bankruptcy filing, but this time it will
be a liquidation with going-out-of-business sales.

The first bankruptcy was a 14-month Chapter 11 reorganization
completed in September 2000.  At the time the chain had 44 stores
in 17 states.  The second bankruptcy culminated in a
reorganization plan implemented in March 2011.  It was acquired by
Istithmar in July 2006 in a $300 million transaction.

Loehmann's, based in the Bronx borough of New York City, operated
39 stores in 11 states as of the 2013 bankruptcy filing.

In the new Chapter 11 case, Loehmann's disclosed assets and debt
both totaling $96.7 million.  The debt includes $4.3 million on a
first-lien credit agreement with Wells Fargo Bank NA as agent, not
including about $9 million in letters of credit.

Kristopher M. Hansen, Esq., at Stroock & Stroock & Lavan LLP,
serves as counsel to the Debtors; Canaccord Genuity Inc. is the
investment banker; Clear Thinking Group LLC is the restructuring
advisor; and Epiq Bankruptcy Solutions LLC is the claims and
notice agent.


LOEHMANN'S HOLDINGS: Has Epiq as Claims & Noticing Agent
--------------------------------------------------------
Loehmann's Holdings Inc. and its debtor-affiliates sought and
obtained approval to employ Epiq Bankruptcy Solutions, LLC, as
claims and noticing agent.

Although the Debtors have not yet filed their schedules of assets
and liabilities, they anticipate that there will be thousands of
entities to be noticed.

Epiq agreed to a $20,000 retainer.

As claims agent, Epiq will charge the Debtors at these discounted
rates:

   Position                                  Hourly Rate
   --------                                  -----------
Clerical                                         $35
Case Manager                                     $75
IT/ Programming                                 $110
Senior Case Manager                             $110
Director of Case Management                     $170
Case Analyst                                     $85
Consultant/Senior Consultant                    $170
Director/Vice President Consulting              $225
Communication Counselor                         $250
Exec. VP-Solicitation - Jane Sullivan           $265

For its noticing services, Epiq will charge $50 per 1,000 e-mails,
and $0.10 per page for facsimile noticing.  For database
maintenance, the firm will charge $0.10 per record per month, with
fees for the first three months waived.  For-online claim filing
services, Epiq will charge $4.50 per filed claim.

                         About Loehmann's

Discount retailer Loehmann's Holdings Inc., and two affiliates
sought Chapter 11 protection (Bankr. S.D.N.Y. Lead Case No.
13-14050) on Dec. 15, 2013.

This is Loehmann's third bankruptcy filing, but this time it will
be a liquidation with going-out-of-business sales.

The first bankruptcy was a 14-month Chapter 11 reorganization
completed in September 2000.  At the time the chain had 44 stores
in 17 states.  The second bankruptcy culminated in a
reorganization plan implemented in March 2011.  It was acquired by
Istithmar in July 2006 in a $300 million transaction.

Loehmann's, based in the Bronx borough of New York City, operated
39 stores in 11 states as of the 2013 bankruptcy filing.

In the new Chapter 11 case, Loehmann's disclosed assets and debt
both totaling $96.7 million.  The debt includes $4.3 million on a
first-lien credit agreement with Wells Fargo Bank NA as agent, not
including about $9 million in letters of credit.

Kristopher M. Hansen, Esq., at Stroock & Stroock & Lavan LLP,
serves as counsel to the Debtors; Canaccord Genuity Inc. is the
investment banker; Clear Thinking Group LLC is the restructuring
advisor; and Epiq Bankruptcy Solutions LLC is the claims and
notice agent.


LOEHMANN'S HOLDINGS: Sales to Begin One Week Later Than Planned
---------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Loehmann's Inc. will begin going-out-of-business
sales in January, a week later than the discount retailer
intended.

According to the report, after filing in Chapter 11 on Dec. 15 to
liquidate, Bronx, New York-based Loehmann's went to court on Dec.
17 asking the bankruptcy judge in Manhattan to bless a procedure
where there would have been a Dec. 30 auction for the right to
conduct store-closing sales.

U.S. Bankruptcy Judge Martin Glenn criticized the proposal, saying
it was taking place too quickly for the benefit of secured
creditors without sufficient regard for other stakeholders.

Loehmann's has another hearing on Dec. 18 with a revised proposal
for an auction on Jan. 3, an approval hearing on Jan. 7, and
commencement of closing sales on Jan. 13.

Absent a better offer, the GOB sales will be run by a joint
venture among SB Capital Group LLC, Tiger Capital Group LLC, and
A&G Realty Partners LLC. They are offering $19 million in cash, 25
percent of net proceeds from the sale of additional merchandise
they bring in, and 25 percent from sales of intellectual property
and leases.

                         About Loehmann's

Discount retailer Loehmann's Holdings Inc., and two affiliates
sought Chapter 11 protection (Bankr. S.D.N.Y. Lead Case No.
13-14050) on Dec. 15, 2013.

This is Loehmann's third bankruptcy filing, but this time it will
be a liquidation with going-out-of-business sales.

The first bankruptcy was a 14-month Chapter 11 reorganization
completed in September 2000.  At the time the chain had 44 stores
in 17 states.  The second bankruptcy culminated in a
reorganization plan implemented in March 2011.  It was acquired by
Istithmar in July 2006 in a $300 million transaction.

Loehmann's, based in the Bronx borough of New York City, operated
39 stores in 11 states as of the 2013 bankruptcy filing.

In the new Chapter 11 case, Loehmann's disclosed assets and debt
both totaling $96.7 million.  The debt includes $4.3 million on a
first-lien credit agreement with Wells Fargo Bank NA as agent, not
including about $9 million in letters of credit.  Law Debenture
Trust Co. of New York is agent on a second-lien loan for $14.5
million.  Law Debenture is also agent on a third-lien obligation
for $71.9 million.  Trade suppliers are owed $16.7 million.

Kristopher M. Hansen, Esq., at Stroock & Stroock & Lavan LLP,
serves as counsel to the Debtors; Canaccord Genuity Inc. is the
investment banker; Clear Thinking Group LLC is the restructuring
advisor; and Epiq Bankruptcy Solutions LLC is the claims and
notice agent.

Loehmann's is controlled by affiliates of Whippoorwill Associates
Inc. who have 68.5 percent of the equity. Istithmar World PJSC, an
investment firm owned by the government of Dubai, has 19.1
percent, court papers show.


LOUISIANA HOUSING: S&P Affirms 'BB' Rating on 2009A & 2009B Bonds
-----------------------------------------------------------------
Standard & Poor's Ratings Services has revised its outlook on
Louisiana Housing Finance Agency's (Global Ministries Fellowship)
series 2009A and 2009B multifamily housing revenue bonds, issued
for the Chateau Projects, to positive from stable.

"The outlook revision reflects our view of the projects' improved
financial performance and occupancy in 2013, based on year-to-date
financial information as of Sept. 30, 2013," said Standard &
Poor's credit analyst Ki Beom K. Park.

At the same time, Standard & Poor's affirmed its 'BBB (sf)' and
'BB (sf)' long-term ratings on the agency's 2009A and 2009B bonds,
respectively.

The ratings reflect Standard & Poor's view of these strengths:

   -- The debt service coverage (DSC) increasing to 1.4x and 1.23x
      maximum annual debt service (MADS) on the 2009A and 2009B
      bonds, respectively, as per fiscal 2012 audited financials;

   -- The debt service reserve fund sized at 12 months' MADS; and

   -- The improved effective gross income.

Conversely, the rating also reflects Standard & Poor's view of the
projects' low average occupancy rates as a weakness.

"If DSC and occupancy levels continue to improve, the subsequent
strengthening of the issues' credit quality may warrant a raising
of the ratings," Mr. Park added.  "However, any further declines
in DSC or occupancy may lead to a lowering of the ratings."

Chateau Projects consists of 1,105 affordable housing units spread
across seven properties total in Lake Charles and Lafayette, La.


MEI CONLUX: S&P Withdraws 'B' Corporate Credit Rating
-----------------------------------------------------
Standard & Poor's Ratings Services withdrew its 'B' corporate
credit rating on MEI Conlux Holdings Inc. (MEI) at the company's
request after Crane Co. completed the acquisition of MEI.  At the
same time, S&P withdrew its issue-level and recovery ratings on
subsidiary MEI Inc.'s senior secured credit facilities, which were
repaid in full and terminated with this transaction.


MSI CORP: Dec. 23 Hearing on Stipulation to Use Cash Collateral
---------------------------------------------------------------
The Bankruptcy Court will convene a hearing on Dec. 23, 2013, at
10:00 a.m., to consider approval of the stipulation authorizing
MSI Corporation to use cash collateral.

As reported in the Troubled Company Reporter on Dec. 6, 2013, the
Debtor, First Commonwealth Bank and The "M" Line Railroad Company
entered a second stipulation on Nov. 22 authorizing the Debtor to
use cash collateral nunc pro tunc from Nov. 15, 2013, through
March 1, 2014, solely to pay necessary expenses incurred in the
ordinary course of the Debtor's business operations, pursuant to a
budget.

The Railroad Company is a non-operational Pennsylvania business
corporation which is owned by a principal of the Debtor.  As of
the petition date, the Railroad Company was a co-borrower or
guarantor in connection with some, but not all, of the loans made
by the Bank to the Debtor.

A copy of the Second Stipulation and Order authorizing usage of
cash collateral is available at:

          http://bankrupt.com/misc/msicorp.doc147.pdf

                         About MSI Corp.

MSI Corporation filed a bare-bones Chapter 11 petition (Bankr.
W.D. Pa. Case No. 13-22457) in Pittsburgh on June 7, 2013.  Judge
Jeffery A. Deller presides over the case.  The Vandergrift,
Pennsylvania-based company estimated at least $10 million in
assets and less than $10 million in liabilities.

Albert's Capital Services LLC is the Debtor's chief restructuring
officer.  Michael J. Roeschenthaler, Esq., and Scott E. Schuster,
Esq., at McGuireWoods LLP, in Pittsburgh, serve as the Debtor's
counsel.  Geary & Loperfito, LLC serves as special counsel.

No unsecured creditors was formed because no one responded to the
U.S. Trustee's communication for service on the committee.


MW GROUP: Can Use Bank of America's Cash Collateral Until March 31
------------------------------------------------------------------
The Hon. Laura T. Beyer of the U.S. Bankruptcy Court for the
Western District of North Carolina approved the eighth
supplemental consent order authorizing MW Group LLC's continued
use of cash collateral.

Pursuant to the consent order, the Debtor's authorization to use
cash collateral will terminate on March 31, 2014, and the Debtor
may not make further use or consumption of cash collateral
thereafter absent express written consent of lender or further
Court order.

The consent order was agreed to by the Debtor and creditor Bank of
America, N.A.

                          About MW Group

Charlotte, North Carolina-based MW Group LLC filed for Chapter 11
bankruptcy (Bankr. W.D.N.C. Case No. 11-32674) on Oct. 21, 2011.
The Debtor scheduled assets of $10.32 million and liabilities of
$8.42 million.  Donald R. James signed the petition as manager.

The Debtor's assets consist of 36.5 acres of vacant land, 48 condo
units for rent, and 200 apartments known as Weyland and Weyland
II, located in Charlotte, Mecklenburg County, North Carolina.

No official committee of unsecured creditors has been appointed in
the case.

Creditor Bank of America, N.A., filed a Chapter 11 Plan of
Liquidation while the Debtor proposed a First Amended Plan of
Reorganization.


MW GROUP: Jan. 29 Hearing on Rival Disclosure Statements
--------------------------------------------------------
The Hon. Laura T. Beyer of the U.S. Bankruptcy Court for the
Western District of North Carolina will convene a hearing on
Jan. 29, 2014, at 10:30 a.m., to consider the adequacy of
information in the disclosure statements explaining (i) MW Group
LLC's own First Amended Plan of Reorganization; and (ii) the
competing Chapter 11 Plan of Liquidation filed by Bank of America,
N.A.

The Court also ordered that:

   1. all amendments to the Disclosure Statements and related
      Chapter 11 plans, if any, will be filed with the Court
      by Jan. 10, 2014;

   2. all objections to the amended disclosure statements will
      be filed by Jan. 22;

   3. the Debtor and Bank or America, N.A. will use their best
      efforts to file a joint solicitation proposal to the Court
      by Jan. 15, 2014, which governs the solicitation of
      acceptances and rejections of the competing Chapter 11
      plans.

As reported in the Troubled Company Reporter on March 6, 2013,
each proponent would have to seek approval of their disclosure
statements to begin soliciting votes on their respective plans and
schedule a confirmation hearing.

                           The Bank Plan

Under the Plan proposed by BoA, claims in Class 1 (Allowed Secured
Claim), Class 2 (Allowed Unsecured Claims)and Class 3 (Insider
Claims) are impaired under the Bank Plan, and therefore, Holders
of Class 1, Class 2 and Class 3 Allowed Claims are entitled to
vote to accept or reject the Bank Plan.

Allowed Class 4 Interests will receive no distribution under the
Bank Plan and will retain no property whatsoever under the Bank
Plan. Holders of Class 4 Claims are deemed to have rejected the
Bank Plan by virtue of Bankruptcy Code Section 1126(g) and is not
entitled to vote to accept or reject the Bank Plan.

Bank of America holds a secured claim totaling at least
$5,725,420.  Under the Bank Plan, Bank of America has agreed to
have its secured claim bifurcated into (a) a $5,300,000 secured
claim and (b) a $425,420.28 deficiency claim.  Further, pursuant
to the Bank Plan, Bank of America has agreed to have its Bank
Secured Claim be deemed satisfied upon receipt of payment of
$5,300,000 from the Cash Collateral in possession of the Trustee
and/or Net Sale Proceeds from the Sale of Debtor's real property,
including (a) that certain real property consisting of 36.5 acres
of vacant land, (b) the 48 condominium units in the Marlborough
Woods Condominium Association for rent, (c) the 200 apartments
known as Weyland and Weyland II, and (d) all improvements and
personal property located thereon or relating thereto.  On the
Effective Date of the Bank Plan, all of Debtor's Property,
including the Real Property, will be deemed to be property of the
Trust, as managed by Trustee.  Trustee, on behalf of the Trust,
will hold title to the Real Property and market and sell the same
as soon as reasonably practicable, but no later than six months
after the Effective Date.

Pursuant to the Bank Plan, Bank of America has agreed to
subordinate its Bank Deficiency Claim to all other Allowed Claims.
If the Net Sale Proceeds are less than the Bank Secured Claim
amount, then Bank of America will subordinate its remaining unpaid
portion of its Bank Secured Claim, along with its Bank Deficiency
Claim totaling approximately $425,420.28, to all other Allowed
Claims.  Further, under the Bank Plan, Bank of America has agreed
to allow Trustee to utilize Bank of America's Cash Collateral to
ensure that each Holder of an Allowed General Unsecured Claim will
receive a 100% distribution on their respective Allowed General
Unsecured Claims.  Bank of America has not agreed, however, to
allow its Cash Collateral to be used to pay the Allowed Insider
Claims.

According to papers filed with the Court, all Holders of Allowed
Claims (excluding Bank of America as the Holder of the Bank
Deficiency Claim) will be paid more under the Bank Plan than the
Debtor Plan or in a Chapter 7 liquidation.  Irrespective of the
actual value of the Real Property or the amount of Net Sale
Proceeds, Holders of Allowed General Unsecured Claims will receive
100% distributions from the Net Sale Proceeds and/or Cash
Collateral.

To administer payments to Holders after confirmation, the Bank
Plan provides for the formation of a liquidating trust (the
"Trust" under the Bank Plan).  An individual designated by Bank of
America and approved by the Bankruptcy Court will act as the
trustee (the "Trustee" under the Bank Plan) of the Trust.
Trustee, on behalf of the Trust, will liquidate Debtor's Property,
including the Real Property, and will retain the right to pursue
all Causes of Action.  Bank of America, to recover on its Bank
Deficiency Claim will be able to recover from any Cash that may
remain after the Sale of Debtor's Property and payment on all
other Allowed Claims.

A copy of the Bank's Disclosure Statement is available at:

           http://bankrupt.com/misc/mwgroup.doc223.pdf

                          The Debtor Plan

The Debtor submitted a Disclosure Statement explaining its First
Amended Plan of Reorganization dated Nov. 16, 2012.  The Debtor
segregates the various Claims and Interests into 8 Classes:
                                                         Estimated
         Description                 Voting Status       Recovery
         -----------                 -------------       ---------
Class 1  Priority Non-Tax Claims     Impaired; Entitled     100%
                                       to Vote
Class 2  Secured Tax Claims          Impaired; Entitled     100%
                                       to Vote
Class 3  Secured Claim of BOA        Impaired; Entitled     100%
                                       to Vote
Class 4  General Unsecured Claims    Impaired; Entitled     100%
                                       to Vote
Class 5  Unsecured Claim of the EPA  Impaired; Entitled     100%
                                       to Vote
Class 6  Insider Unsecured Claims    Impaired; Entitled     100%
                                       to Vote
Class 7  Employee Unsecured Claims   Not Impaired; Not      100%
                                       Entitled to Vote
Class 8  Membership Interests        Not Impaired; Not      100%
                                       Entitled to Vote

The Secured Claim of Bank of America in Class 3 will be
restructured over a 7 year period.  The Debtor estimates that the
BOA Allowed Secured Claim will be approximately $5,700,000.
Upon confirmation of the Plan, the BOA debt will be reamortized
over a 25 year term at an interest rate of 3.25% per annum.
Payments on account of this claim will be made from the revenues
and operations of the Reorganized Debtor.

Each holder of an Allowed General Unsecured Claim in Class 4 will
be paid in Cash, in full, on the Effective Date, as otherwise
agreed upon by the Debtor and holder of a General Unsecured Claim,
or in deferred cash payments with interest from the Petition Date
at the rate of 3.25% per annum, in equal monthly installments of
principal and interest sufficient to fully amortize the
outstanding indebtedness over a period of 12 months after the
Effective Date.

The Allowed Unsecured Claims of the Debtor's insiders in Class 6
will be paid in full under the Plan.  Each holder of an Allowed
Class 6 Claim will be paid in full, in Cash, with interest upon
the sale or refinance of the Property.  Interest will accrue on
the principal balance of the Allowed Insider Unsecured Claims as
of the Petition Date at the prime rate of interest plus 2% per
annum.

The Debtor's members (Class 8) will retain their membership
interests in the Debtor because the Plan provides for the payment
in full of all senior classes of creditors.  The Debtor's members
will not receive any distributions until all senior classes have
actually been paid in full, provided however, that the Debtor's
members may take such interim distributions as necessary to pay
their respective income taxes attributable to their ownership of
the Debtor.

A copy of the Disclosure Statement for the Debtor's First Amended
Plan is available at http://bankrupt.com/misc/mwgroup.doc226.pdf

                           About MW Group

Charlotte, North Carolina-based MW Group LLC filed for Chapter 11
bankruptcy (Bankr. W.D.N.C. Case No. 11-32674) on Oct. 21, 2011.
The Debtor scheduled assets of $10.32 million and liabilities of
$8.42 million.  Donald R. James signed the petition as manager.

The Debtor's assets consist of 36.5 acres of vacant land, 48 condo
units for rent, and 200 apartments known as Weyland and Weyland
II, located in Charlotte, Mecklenburg County, North Carolina.

No official committee of unsecured creditors has been appointed in
the case.


NCL CORP: S&P Revises Outlook to Positive & Affirms 'BB-' CCR
-------------------------------------------------------------
Standard & Poor's Ratings Services revised its rating outlook on
Miami-based cruise line operator NCL Corp. Ltd. to positive from
stable.  All ratings on the company, including the 'BB-' corporate
credit rating, are affirmed.

The positive outlook revision reflects S&P's expectation that NCL
will improve lease adjusted debt to EBITDA to the low-4x area,
funds from operations (FFO) to total debt to about 20%, and EBITDA
coverage of interest expense to above 5x in 2014.  These expected
credit measures could position NCL to achieve an improved
financial risk assessment to "significant" from "aggressive," and
a one notch higher rating, in S&P's view.  Following the
anticipated delivery of Norwegian Getaway in January 2014 and the
delivery of Norwegian Breakaway in April 2013, S&P expects a
meaningful increase in fleet-wide capacity of about 17% in 2014.
Combined with expected net revenue yield growth and cost
containment, S&P believes NCL will increase EBITDA in 2014 by 25%
to 30%.  This level of operating performance would translate into
improving leverage measures throughout 2014, even though S&P
expects a temporary spike in leverage in the first quarter of 2014
resulting from the assumption of debt to finance the Getaway's
delivery.

The 'BB-' corporate credit rating on NCL Corp. Ltd. reflects S&P's
assessment of the company's financial risk profile as "aggressive"
and its assessment of its business risk profile as "fair,"
according to its criteria.

S&P's assessment of NCL's business risk profile as fair is based
on its position as the third largest cruise operator in the North
American market (behind Carnival Corp. and Royal Caribbean Cruises
Ltd.), significant capital requirements to fund new ship building,
an inability to pull back spending once a ship order is committed,
and the cruise industry's sensitivity to the economic cycle.
Management's success in executing operating improvements over the
past few years partly offsets these risk factors.

Expected credit measures could position NCL to achieve an improved
financial risk assessment to "significant" from "aggressive," and
a one notch higher rating, in S&P's view.

S&P could revise NCL's rating outlook to stable if the company is
unable to absorb new capacity in the fleet as successfully as S&P
currently expects, and leverage measures underperform its current
expectation.  S&P could lower ratings if NCL sustains leverage
above the 5.5x area and FFO to debt below 15%.


NEWLEAD HOLDINGS: Completes Acquisition of Coal Wash Plant
----------------------------------------------------------
NewLead Holdings Ltd. on Dec. 18 disclosed that it recently
completed the acquisition of a coal wash plant in Kentucky, USA.

The coal wash plant is operational and will immediately generate
revenue and positive cash flow for the Company.  The plant can
wash, blend, size, store and deliver coal and has a rail load
attached which allows loading of the washed coal on its own rails
and trucks as well as delivery directly to its destination.  The
rail load allows for reduced cost of coal transportation.

Since April 2011, the coal wash plant has processed an average of
approximately 59,000 tons of coal per month.  Currently, the plant
has a contract in place for processing, as requested, up to a
maximum of 150,000 tons of coal per month, scheduled to expire in
June 2016.

Mr. Michael Zolotas, chairman and chief executive officer of
NewLead, stated, "The completion of the acquisition of the wash
plant is an important step in developing our vertically integrated
shipping and commodity model.  The acquisition of the coal wash
plant greatly enhances NewLead's commodity arm because it is a
vital part of coal production process.  It ameliorates the quality
of the coal produced and it produces profits from washing coal for
third parties.  The use of the rail load allows for a competitive
advantage in logistics and transportation over the selling pricing
mechanism of high quality coal as compared to our piers.  We
expect the coal wash plant to immediately contribute positively to
our earnings."

                  About NewLead Holdings Ltd.

NewLead Holdings Ltd. -- http://www.newleadholdings.com/-- is an
international, vertically integrated shipping company that owns
and manages product tankers and dry bulk vessels.  NewLead
currently controls 22 vessels, including six double-hull product
tankers and 16 dry bulk vessels of which two are newbuildings. N
ewLead's common shares are traded under the symbol "NEWL" on the
NASDAQ Global Select Market.

Newlead Holdings incurred a net loss of $403.92 million on $8.92
million of operating revenues for the year ended Dec. 31, 2012, as
compared with a net loss of $290.39 million on $12.22 million of
operating revenues for the year ended Dec. 31, 2011.  The Company
incurred a net loss of $86.34 million on $17.43 million of
operating revenues in 2010.

                        Going Concern Doubt

PricewaterhouseCoopers S.A., in Athens, Greece, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2012.  The independent auditors noted
that the Company has incurred a net loss, has negative cash flows
from operations, negative working capital, an accumulated deficit
and has defaulted under its credit facility agreements resulting
in all of its debt being reclassified to current liabilities, all
of which raise substantial doubt about its ability to continue as
a going concern.


NORTEL NETWORKS: Settlement Simplifies Issues on Allocation Trial
-----------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that the Nortel Networks Inc. bankruptcies in the U.S. and
Canada reached an agreement with their counterparts in the U.K.
and France, hastening the day when $7.5 billion generated from
asset liquidations can be distributed to creditors.

According to the report, despite the settlement announced on Dec.
17, there still must be a trial beginning on May 12 to decide how
to allocate the $7.5 billion among bankruptcies around the world.

The settlement involved claims filed by the liquidators and
administrators in the U.K. and France and representatives of the
U.K. pension fund. The U.K. bankruptcy administrators and the U.K.
pension funds will receive $37.5 million each in cash as expenses
of administration of the U.S. bankruptcy.

The settlement, scheduled for approval in the Delaware bankruptcy
court on Jan. 7, allows the contending parties to focus on
allocation disputes. The agreement calls on them "to see if they
can develop a common allocation position" for the trial in May.
The factions' experts are to meet and discuss "allocation
methodologies."

The accord also lays to rest whether the allocation was to be the
subject of a court trial or hashed out in arbitration.  Courts in
the U.S. and Canada both ruled there was no agreement to
arbitrate.

                       About Nortel Networks

Headquartered in Ontario, Canada, Nortel Networks Corporation and
its various affiliated entities provided next-generation
technologies, for both service provider and enterprise networks,
support multimedia and business-critical applications.  Nortel did
business in more than 150 countries around the world.  Nortel
Networks Limited was the principal direct operating subsidiary of
Nortel Networks Corporation.

On Jan. 14, 2009, Nortel Networks Inc.'s ultimate corporate parent
Nortel Networks Corporation, NNI's direct corporate parent Nortel
Networks Limited and certain of their Canadian affiliates
commenced a proceeding with the Ontario Superior Court of Justice
under the Companies' Creditors Arrangement Act (Canada) seeking
relief from their creditors.  Ernst & Young was appointed to serve
as monitor and foreign representative of the Canadian Nortel
Group.  That same day, the Monitor sought recognition of the CCAA
Proceedings in U.S. Bankruptcy Court (Bankr. D. Del. Case No.
09-10164) under Chapter 15 of the U.S. Bankruptcy Code.

That same day, NNI and certain of its affiliated U.S. entities
filed voluntary petitions for relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Del. Case No. 09-10138).

In addition, the High Court of England and Wales placed 19 of
NNI's European affiliates into administration under the control of
individuals from Ernst & Young LLP.  Other Nortel affiliates have
commenced and in the future may commence additional creditor
protection, insolvency and dissolution proceedings around the
world.

On May 28, 2009, at the request of administrators, the Commercial
Court of Versailles, France, ordered the commencement of secondary
proceedings in respect of Nortel Networks S.A.  On June 8, 2009,
Nortel Networks UK Limited filed petitions in U.S. Bankruptcy
Court for recognition of the English Proceedings as foreign main
proceedings under Chapter 15.

U.S. Bankruptcy Judge Kevin Gross presides over the Chapter 11 and
15 cases.  Mary Caloway, Esq., and Peter James Duhig, Esq., at
Buchanan Ingersoll & Rooney PC, in Wilmington, Delaware, serves as
Chapter 15 petitioner's counsel.

In the Chapter 11 case, James L. Bromley, Esq., at Cleary Gottlieb
Steen & Hamilton, LLP, in New York, serves as the U.S. Debtors'
general bankruptcy counsel; Derek C. Abbott, Esq., at Morris
Nichols Arsht & Tunnell LLP, in Wilmington, serves as Delaware
counsel.  The Chapter 11 Debtors' other professionals are Lazard
Freres & Co. LLC as financial advisors; and Epiq Bankruptcy
Solutions LLC as claims and notice agent.

The United States Trustee appointed an Official Committee of
Unsecured Creditors in respect of the U.S. Debtors.  An ad hoc
group of bondholders also was organized.

Fred S. Hodara, Esq., at Akin Gump Strauss Hauer & Feld LLP, in
New York, and Christopher M. Samis, Esq., at Richards, Layton &
Finger, P.A., in Wilmington, Delaware, represent the Official
Committee of Unsecured Creditors.

An Official Committee of Retired Employees and the Official
Committee of Long-Term Disability Participants tapped Alvarez &
Marsal Healthcare Industry Group as financial advisor.  The
Retiree Committee is represented by McCarter & English LLP as
Delaware counsel, and Togut Segal & Segal serves as the Retiree
Committee.  The Committee retained Alvarez & Marsal Healthcare
Industry Group as financial advisor, and Kurtzman Carson
Consultants LLC as its communications agent.

Several entities, particularly, Nortel Government Solutions
Incorporated and Nortel Networks (CALA) Inc., have material
operations and are not part of the bankruptcy proceedings.

As of Sept. 30, 2008, Nortel Networks Corp. reported consolidated
assets of $11.6 billion and consolidated liabilities of $11.8
billion.  The Nortel Companies' U.S. businesses are primarily
conducted through Nortel Networks Inc., which is the parent of
majority of the U.S. Nortel Companies.  As of Sept. 30, 2008, NNI
had assets of about $9 billion and liabilities of $3.2 billion,
which do not include NNI's guarantee of some or all of the Nortel
Companies' about $4.2 billion of unsecured public debt.

Since the commencement of the various insolvency proceedings,
Nortel has sold its business units and other assets to various
purchasers.  Nortel has collected roughly $9 billion for
distribution to creditors.  Of the total, $4.5 billion came from
the sale of Nortel's patent portfolio to Rockstar Bidco, a
consortium consisting of Apple Inc., EMC Corporation,
Telefonaktiebolaget LM Ericsson, Microsoft Corp., Research In
Motion Limited, and Sony Corporation.  The consortium defeated a
$900 million stalking horse bid by Google Inc. at an auction.  The
deal closed in July 2011.

Nortel has filed a proposed plan of liquidation in the U.S.
Bankruptcy Court.  The Plan generally provides for full payment on
secured claims with other distributions going in accordance with
the priorities in bankruptcy law.

Judge Gross and the court in Canada scheduled trials in 2014 on
how to divide proceeds among creditors in the U.S., Canada, and
Europe.


NORTH TEXAS BANCSHARES: Olney Bancshares Buys Park Cities Bank
--------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Park Cities Bank in Dallas and the official
creditors' committee reached a settlement allowing the U.S.
Bankruptcy Court in Delaware to sign an order on Dec. 17 approving
the bank's sale to Olney Bancshares of Texas Inc. for $11.9
million.

According to the report, before the sale-approval hearing, the
committee didn't agree about who made the best offer at the Dec. 9
auction. As part of the settlement, the Olney, Texas-based buyer
raised the winning bid from $11.4 million.

In addition, the directors of the bank holding company will pay
$400,000 in return for releases of claims. The bank's owner must
move ahead quickly with implementation of a liquidating Chapter 11
plan.

Before the auction, the offer for the bank was $7.4 million from
Park Cities Financial Group Inc.

Park Cities Bank, not itself in bankruptcy, had more than $396
million in deposits, four branches and 71 employees as of Sept.
30, according to a court filing. In Chapter 11, the holding
company listed debt of $39.3 million, including some $34 million
on trust preferred securities.

North Texas Bancshares of Delaware, Inc. (Case No. 13-12699) and
North Texas Bancshares, Inc. (Case No. 13-12700) sought protection
under Chapter 11 of the Bankruptcy Code on Oct. 16, 2013, before
the United States Bankruptcy Court for the District of Delaware.
The jointly administered cases are before Judge Kevin Gross.

The Debtors' are represented by Tobey M. Daluz, Esq., Leslie C.
Heilman, Esq., and Matthew Summers, Esq., at Ballard Spahr LLP, in
Wilmington, Delaware.  The Debtors' special counsel is Bracewell &
Giuliani LLP.  Commerce Street Capital, LLC, serves as the
Debtors' financial advisors.


OCEAN 4660: Lauderdale Beachside Hotel Auctions for $17 Million
---------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Lauderdale Beachside Hotel, a 146-room hotel in
Lauderdale-by-the-Sea, Florida, will be bought for $17 million by
Florida Development Group Inc.

According to the report, the bankruptcy judge in Fort Lauderdale,
Florida, approved the sale last week. The auction started at $10.5
million and continued through 34 rounds of bidding until Florida
Development made the winning offer.

The hotel went into Chapter 11 reorganization in June, owing $16
million to lender Comerica Bank. The property generated revenue of
$1.9 million in 2012, according to a court filing.

The owner previously said the property was worth $10 million to
$16 million.

Unsecured debt is less than $100,000, not counting the bank's
deficiency claim, the owner said.

                         About Ocean 4660

Ocean 4660, LLC, owner of a beachfront property operated as the
Lauderdale Beachside Hotel in Lauderdale-by-the-Sea, Florida,
filed a Chapter 11 petition (Bankr. S.D. Fla. Case No. 13-23165)
in its hometown on June 2, 2013.  Rick Barreca signed the petition
as chief restructuring officer.

The Lauderdale Beachside Hotel features a beach-front location,
two five-story interior corridor buildings (east and west), 147
guest rooms, a beach front tiki bar and grill, a large adjoining
restaurant and commercial kitchen space and on-site parking.
The restaurant space and the tiki bar and grill are unoccupied.
The occupancy rates have generally been between 40 percent and 70
percent occupancy.  Room rates are $40 to $80 per night.

The Company disclosed $15,762,871 in assets and $16,587,678 in
liabilities as of the Chapter 11 filing.

Judge John K. Olson presides over the case.  The Debtor tapped RKJ
Hotel Management, LLC, as hotel manager and RKJ's Rick Barreca as
the CRO.

The Debtor tapped Genovese Joblove & Battista, P.A. as counsel.
Irreconcilable differences prompted the firm to withdraw as
counsel in July 2013.

The Court approved the appointment of Maria Yip, of Coral Gables,
Florida, as Chapter 11 trustee.  Drew M. Dillworth, Esq., of the
Law firm of Stearns Weaver Miller Weissler Alhadeff & Sitterson,
P.A. serves as his counsel.  Kerry-Ann Rin, CPA, and the
consulting firm of Yip Associates serve as financial advisor, and
accountant.

The U.S. Trustee has not appointed an official committee of
unsecured creditors.


PATRIOT COAL: Settlement Agreement with Peabody Takes Effect
------------------------------------------------------------
Peabody Energy on Dec. 18 affirmed that the U.S. Bankruptcy Court
for the Eastern District of Missouri has entered an order
confirming Patriot Coal's plan of reorganization, and Patriot Coal
has announced the successful completion of exit financing and
rights offerings allowing the company to emerge from Chapter 11
reorganization.  These steps result in the previously announced
Settlement Agreement between Peabody, Patriot Coal and the United
Mine Workers of America becoming effective.

"Peabody is pleased to close this chapter with the settlement now
finalized," said Peabody Energy Chairman and Chief Executive
Officer Gregory H. Boyce.  "Peabody continues to advance a
strategy begun a decade ago, as we shape our portfolio to target
the highest-growth regions both within the United States and
internationally."

                       About Patriot Coal

St. Louis-based Patriot Coal Corporation (NYSE: PCX) is a producer
and marketer of coal in the eastern United States, with 13 active
mining complexes in Appalachia and the Illinois Basin.  The
Company ships to domestic and international electricity
generators, industrial users and metallurgical coal customers, and
controls roughly 1.9 billion tons of proven and probable coal
reserves.

Patriot Coal and nearly 100 affiliates filed voluntary Chapter 11
petitions in U.S. bankruptcy court in Manhattan (Bankr. S.D.N.Y.
Lead Case No. 12-12900) on July 9, 2012.  Patriot said it had
$3.57 billion of assets and $3.07 billion of debts, and has
arranged $802 million of financing to continue operations during
the reorganization.

Davis Polk & Wardwell LLP serves as lead restructuring counsel.
Bryan Cave LLP serves as local counsel to the Debtors.  Blackstone
Advisory Partners LP is serving as financial advisor, and AP
Services, LLC is providing interim management services to Patriot
in connection with the reorganization.  Ted Stenger, a Managing
Director at AlixPartners LLP, the parent company of AP Services,
has been named Chief Restructuring Officer of Patriot, reporting
to the Chairman and CEO.  GCG, Inc. serves as claims and noticing
agent.

The U.S. Trustee appointed a seven-member creditors committee.
Kramer Levin Naftalis & Frankel LLP serves as its counsel.
Houlihan Lokey Capital, Inc., serves as its financial advisor and
investment banker.  Epiq Bankruptcy Solutions, LLC, serves as its
information agent.

On Nov. 27, 2012, the New York bankruptcy judge moved Patriot's
bankruptcy case to St. Louis.  The order formally sending the
reorganization to Missouri was signed December 19 by the
bankruptcy judge.  The New York Judge in a Jan. 23, 2013 order
denied motions to transfer the venue to the U.S. Bankruptcy Court
for the Southern District of West Virginia.

Patriot Coal Corp., et al., filed with the U.S. Bankruptcy Court
for the Eastern District of Missouri a First Amended Joint
Chapter 11 Plan of Reorganization and an explanatory disclosure
statement on Oct. 9, 2013, and a Second Amended Joint Chapter 11
Plan of Reorganization and an explanatory disclosure statement on
Oct. 26, 2013.


PATRIOT COAL: Emerges From Chapter 11 Reorganization
----------------------------------------------------
Patriot Coal Corporation on Dec. 18 announced its emergence from
Chapter 11 as a reorganized company.  The Company exits the 18-
month restructuring process with a strong balance sheet,
competitive cost structure, and streamlined operating profile
focused on market opportunities that create value.

"[Wednes]day marks an exciting new beginning for our company and
for our employees," said Patriot President and Chief Executive
Officer Bennett K. Hatfield.  "We have accomplished the objectives
of our reorganization and emerged in a much stronger position to
compete in the global energy and steel markets.  Importantly, we
have also preserved nearly 4,000 jobs, signed new five-year labor
agreements with the UMWA, and secured significant funding for
retiree healthcare."

Patriot emerges from Chapter 11 reorganization with a:

   -- Strong balance sheet. The Company has lower debt levels and
higher available liquidity, with dramatically reduced legacy
liabilities related to retiree healthcare and other post-
employment benefits.

   -- Competitive cost structure. Patriot has significantly
reduced its operating costs, achieving more than $200 million in
estimated annual cash savings.

   -- Industry-leading assets and reserves. The Company has 1.8
billion tons of coal reserves, state-of-the-art mine complexes in
three U.S. coal basins, and broad transportation optionality.

   -- Solid customer base. Patriot has long-standing relationships
with prominent U.S. and international utility customers, steel
producers, and energy trading companies.

"Having streamlined our operations through the reorganization
process, Patriot is poised to respond quickly to changes in the
markets.  Utilizing our existing mine complexes and the Company's
large coal reserve base, we can add incremental production at
competitive costs with modest capital requirements," continued
Mr. Hatfield.  "In short, with the support of our dedicated
employees and new investors, Patriot Coal has a bright future."

                      Emergence Details

Patriot completed the final steps in its Chapter 11 restructuring
on December 18 by successfully closing $545 million in exit
financing, with portions of the exit financing led by Barclays
Bank PLC and Deutsche Bank Securities Inc., and completing its
rights offerings, receiving $250 million of junior capital from
Knighthead Capital Management, LLC and other participating
unsecured creditors.

The Company has filed notice of the effectiveness of the Plan of
Reorganization with the U.S. Bankruptcy Court for the Eastern
District of Missouri.  Upon the effectiveness of the Plan, all
previously issued and outstanding shares of Patriot common stock
were cancelled, as were all other previously issued and
outstanding equity interests and bonds.  Patriot issued shares of
a new class of common stock to unsecured creditors as provided in
the Plan.  Additionally, the Company issued notes and warrants
pursuant to the rights offerings.  Patriot expects to make initial
distributions to unsecured claim holders in the first quarter of
2014.

As a result of the effectiveness of the Plan, Patriot is a private
company and is no longer subject to the reporting requirements of
the U.S. Securities and Exchange Commission.  However, Patriot
plans to release certain financial results and other information
on at least a quarterly basis.

                           *     *     *

Bill Rochelle, the bankruptcy columnist for Bloomberg News
reported that according to Amer Tiwana, a managing director with
CRT Capital Group LLC in Stamford, Connecticut, the new stock
being issued under the Plan is a "purely speculative option."


The Plan was based on settlements among the unsecured creditors'
committee, the mine workers' union, former parent Peabody Energy
Corp. and Arch Coal Inc.

                       About Patriot Coal

St. Louis-based Patriot Coal Corporation (NYSE: PCX) is a producer
and marketer of coal in the eastern United States, with 13 active
mining complexes in Appalachia and the Illinois Basin.  The
Company ships to domestic and international electricity
generators, industrial users and metallurgical coal customers, and
controls roughly 1.9 billion tons of proven and probable coal
reserves.

Patriot Coal and nearly 100 affiliates filed voluntary Chapter 11
petitions in U.S. bankruptcy court in Manhattan (Bankr. S.D.N.Y.
Lead Case No. 12-12900) on July 9, 2012.  Patriot said it had
$3.57 billion of assets and $3.07 billion of debts, and has
arranged $802 million of financing to continue operations during
the reorganization.

Davis Polk & Wardwell LLP serves as lead restructuring counsel.
Bryan Cave LLP serves as local counsel to the Debtors.  Blackstone
Advisory Partners LP is serving as financial advisor, and AP
Services, LLC is providing interim management services to Patriot
in connection with the reorganization.  Ted Stenger, a Managing
Director at AlixPartners LLP, the parent company of AP Services,
has been named Chief Restructuring Officer of Patriot, reporting
to the Chairman and CEO.  GCG, Inc. serves as claims and noticing
agent.

The U.S. Trustee appointed a seven-member creditors committee.
Kramer Levin Naftalis & Frankel LLP serves as its counsel.
Houlihan Lokey Capital, Inc., serves as its financial advisor and
investment banker.  Epiq Bankruptcy Solutions, LLC, serves as its
information agent.

On Nov. 27, 2012, the New York bankruptcy judge moved Patriot's
bankruptcy case to St. Louis.  The order formally sending the
reorganization to Missouri was signed December 19 by the
bankruptcy judge.  The New York Judge in a Jan. 23, 2013 order
denied motions to transfer the venue to the U.S. Bankruptcy Court
for the Southern District of West Virginia.

Patriot Coal Corp., et al., filed with the U.S. Bankruptcy Court
for the Eastern District of Missouri a First Amended Joint
Chapter 11 Plan of Reorganization and an explanatory disclosure
statement on Oct. 9, 2013, and a Second Amended Joint Chapter 11
Plan of Reorganization and an explanatory disclosure statement on
Oct. 26, 2013.


PEM THISTLE: Case Summary & 18 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: PEM Thistle Landing TIC 23, LLC
        13831 NW Freeway, Suite 510
        Houston, TX 77040

Case No.: 13-13273

Chapter 11 Petition Date: December 17, 2013

Court: United States Bankruptcy Court
       District of Delaware (Delaware)

Judge: Hon. Kevin Gross

Debtor's Counsel: Kevin Scott Mann, Esq.
                  CROSS & SIMON, LLC
                  913 N. Market Street, 11th Floor
                  P.O. Box 1380
                  Wilmington, DE 19899-1380
                  Tel: 302-777-4200
                  Fax: 302-777-4224
                  Email: kmann@crosslaw.com

Estimated Assets: $10 million to $50 million

Estimated Debts: $10 million to $50 million

The petition was signed by Kathleen Mellor, director.

List of Debtor's 18 Largest Unsecured Creditors:

   Entity                       Nature of Claim   Claim Amount
   ------                       ---------------   ------------
Ace Building Maintenance         Property               $1,342
                                 Maintenance

Altus Group US Inc.              Tax Consultant           $250

AME Southwest, Inc.              Property              $22,815
                                 Maintenance

Arizona Department of Revenue    Taxes                  $1,222

CBRE Real Estate Services, Inc.  Property               $5,987
                                 Management

Cintas Fire Protection Inc.      Trade                    $748

City of Phoenix                  Utility               $12,258

Dish Network                     Tenant               $518,224
9601 South Meridian              Improvement
Boulevard
Englewood, CO 80112

Invader Pest Management Inc.     Property                 $192
                                 Maintenance

Lee & Associates Arizona Inc.    Lease Commissions    $279,506
3200 Eat Camelback Road #100
Phoenix, AZ 85018

Phoenx City Treasurer            Taxes                  $5,133

Principle Equity Properties LP   Expense               $41,567
                                 Reimbursements

RAYTEK Lighting, LLC             Property               $2,341
                                 Maintenance

Service Link Contracting LLC     Property                 $730
                                 Maintenance

SRP                              Utility                $2,013

TIG Central Texas, Ltd.          Property Management    $1,474

VSS Security Services            Security Services        $442

Wright National Flood            Insurance              $7,152
Insurance Co.


PHYSIOTHERAPY HOLDINGS: Nearing Court Approval of Plan
------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Physiotherapy Holdings Inc. has one foot out of the
bankruptcy court.

According to the report, the provider of outpatient physical
therapy filed a Chapter 11 petition on Nov. 12 after already
negotiating a plan to give noteholders all the stock in exchange
for debt, resulting in a predicted recovery of 40.3 percent.

At the Dec. 17 confirmation hearing, the bankruptcy judge in
Delaware rejected objections from the company's former owners, who
are likely to be sued. If the parties can't agree on language in a
confirmation order to approve the plan, the judge will hold
another hearing on Dec. 19.

                   About Physiotherapy Holdings

Physiotherapy Holdings, Inc., and its affiliates sought protection
under Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Case No.
13-12965) on Nov. 12, 2013.  The Debtors are the largest pure-play
provider of outpatient physical therapy services in the United
States with a national footprint of 581 outpatient rehabilitation
and orthotics & prosthetics clinics located in 29 states plus the
District of Columbia.

The Debtor is represented by Domenic E. Pacitti, Esq., and Michael
W. Yurkewicz, Esq., at Klehr Harrison Harvey Branzburg, LLP, in
Wilmington, Delaware; Morton Branzburg, Esq., at Klehr Harrison
Harvey Branzburg LLP, in Philadelphia, Pennsylvania; and Jonathan
S. Henes, P.C., Esq., Nicole L. Greenblatt, Esq., and David S.
Meyer, Esq., at Kirkland & Ellis LLP, in New York.

The Ad Hoc Committee of Senior Noteholders is represented by
Michael L. Tuchin, Esq., and David A. Fidler, Esq., at Klee,
Tuchin, Bogdanoff & Stern LLP, in Los Angeles, California.

U.S. Bank, National Association, as Bridge Loan Agent, is
represented by Stacey Rosenberg, Esq., at Latham & Watkins LLP, in
Los Angeles, California.

The Bank of New York Mellon Trust Company, N.A., as Senior Notes
Indenture Trustee, is represented by Eric A. Schaffer, Esq., at
Reed Smith, in Pittsburgh, Pennsylvania.

The Consenting Shareholders are represented by Michael J. Sage,
Esq., Matthew L. Larrabee, Esq., and Nicole B. Herther-Spiro,
Esq., at Dechert LLP, in New York.


PEREGRINE FINANCIAL: Court Approves Distribution to Customers
-------------------------------------------------------------
Jacqueline Palank, writing for The Wall Street Journal, reported
that with the stroke of a bankruptcy judge's pen on Dec. 18,
customers of defunct brokerage Peregrine Financial Group Inc. can
expect to receive up to $41 million by the year's end.

According to the report, Judge Carol A. Doyle of the U.S.
Bankruptcy Court in Chicago authorized bankruptcy trustee Ira
Bodenstein, who is overseeing Peregrine's liquidation, to send the
payments out to U.S. and foreign futures customers.

With no objections to the proposed distribution, Judge Doyle told
Mr. Bodenstein and his lawyers that she would grant the request
without them "saying a word" about their motion, the report said.

U.S. customers will receive $27.5 million of the distribution, the
second such payout since Peregrine's collapse into bankruptcy last
year following the exposure of its founder's fraud, the report
related.  Foreign customers will get the remaining $13.5 million.

Peregrine founder Russell Wasendorf Sr., who pleaded guilty to
charges of mail fraud, embezzlement and lying to regulators, stole
more than $215 million in customer funds between the early 1990s
and July 2012, the report further related.  He is now serving a
50-year prison sentence.

                   About Peregrine Financial

Peregrine Financial Group Inc. filed to liquidate under Chapter 7
of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 12-27488)
on July 10, 2012, disclosing between $500 million and $1 billion
of assets, and between $100 million and $500 million of
liabilities.

Earlier that day, at the behest of the U.S. Commodity Futures
Trading Commission, a U.S. district judge appointed a receiver and
froze the firm's assets.  The firm put itself into bankruptcy
liquidation in Chicago later the same day.  The CFTC had sued
Peregrine, saying that more than $200 million of supposedly
segregated customer funds had been "misappropriated."  The CFTC
case is U.S. Commodity Futures Trading Commission v. Peregrine
Financial Group Inc., 12-cv-5383, U.S. District Court, Northern
District of Illinois (Chicago).

Peregrine's CEO Russell R. Wasendorf Sr. unsuccessfully attempted
suicide outside a firm office in Cedar Falls, Iowa, on July 9.

The bankruptcy petition was signed in his place by Russell R.
Wasendorf Jr., the firm's chief operating officer. The resolution
stated that Wasendorf Jr. was given a power of attorney on July 3
to exercise if Wasendorf Sr. became incapacitated.

Peregrine Financial is the regulated unit of the brokerage
PFGBest.


PREMIERE HOSPITALITY: Court Rejects Chapter 11 Plan
---------------------------------------------------
Bankruptcy Judge Randy D. Doub denied confirmation of the Chapter
11 Plan of Reorganization filed by Premiere Hospitality Group on
June 2, 3013, finding that the Plan does not satisfy the
requirements of 11 U.S.C. Sec. 1129.  Specifically, Judge Doub
said the treatment of the claim filed by Branch Banking and Trust
Company is not fair and equitable.

Judge Doub said the Debtor may file an amended plan and amended
disclosure statement.

The Bankruptcy Administrator and Branch Banking and Trust Company,
the Debtor's primary secured creditor, objected to the Plan.

The Debtor owes BB&T pursuant to a promissory note in the original
principal amount of $2,008,000.  BB&T filed Proof of Claim No. 11
in the amount of $2,053,976 with interest accruing at the default
rate of 8.25%.  BB&T is secured by a leasehold deed of trust,
assignment of leases and rents, and a security agreement granting
a lien on equipment, general intangibles, supporting obligations,
and products and proceeds thereof. The Debtor scheduled the value
of its leasehold interest in 1415 N. J.K. Powell Blvd.,
Whiteville, North Carolina, located on approximately three acres,
as $2,400,000.

Pursuant to the Plan, the Debtor proposes to treat BB&T's claim as
secured in the amount equal to the outstanding balance on the
petition date, less all postpetition payments. The Debtor proposes
to amortize the secured amount over a period of 30 years with
interest accruing at 4.75% per annum, and a balloon payment in 10
years.

BB&T voted to reject the Plan. BB&T objects to its treatment under
the proposed plan on the basis that its treatment is not fair and
equitable within the meaning of 11 U.S.C. Sec. 1129(b), among
other objections. BB&T asserts that the proposed reamortization of
BB&T's claim is not representative of the risk factors inherent in
the Debtor's business and financial position.  Further, BB&T
contends the proposed amortization period of 30 years with a 4.75%
interest rate and a 10-year balloon is inconsistent with the
market terms for loans for similar businesses and is unreasonable.

BB&T further objects to its treatment as follows: (1) the Debtor
alleges that BB&T is oversecured but fails to provide for
postpetition interest and attorneys' fees pursuant to 11 U.S.C.
Sec. 506; (2) the Debtor's plan improperly reduces BB&T's secured
claim by the amount of payments received postpetition; (3) the
Debtor's plan fails to disclose the nature of any compensation
proposed for insiders pursuant to 11 U.S.C. Sec. 1129(a)(5); (4)
the Debtor's plan lacks an accepting impaired class as provided in
11 U.S.C. Sec. 1129(a)(8), (10); (5) Choice Hotels (Class 8) is
treated as an independent impaired class of creditors and should
instead be classified with other general unsecured claims; (6) the
separate classification of general unsecured claims less than
$1,000.00 (Class 10) creates an artificially impaired class; (7)
the Debtor's plan is not feasible and is likely to be followed by
liquidation or the need for further reorganization pursuant to 11
U.S.C. Sec. 1129(a)(11); (8) The Debtor's plan does not provide
for the Internal Revenue Service and the North Carolina Department
of Revenue secured claims in a manner that is consistent with 11
U.S.C. Sec. 1129(a)(9)(D); (9) BB&T's liens should not be released
prior to satisfaction of its claim in full; (10) the Debtor's plan
fails to classify any unsecured deficiency portion of BB&T's claim
with other general unsecured claims.

"Because the Court finds that the treatment of BB&T is not fair
and equitable, the Court need not address the remaining objections
advanced by BB&T," Judge Doub said.

A copy of the Court's Dec. 16, 2013 Order is available at
http://is.gd/VjXM5dfrom Leagle.com.

Premiere Hospitality Group, Inc. -- fdba Holiday Inn Express and
dba Quality Inn -- filed for Chapter 11 bankruptcy (Bankr.
E.D.N.C. Case No. 13-2145) on April 3, 2013.  Judge J. Rich
Leonard oversees the case.  Trawick H. Stubbs, Jr., Esq., at
Stubbs & Perdue, P.A., serves as the Debtor's counsel.  The Debtor
listed under $50,000 in assets and $1 million to $10 million in
debts.  A list of the Company's 20 largest unsecured creditors,
filed together with the petition, is available for free at
http://bankrupt.com/misc/nceb13-2145.pdf The petition was signed
by E. Autry Dawsey, Sr., president.


PRIMARIA CAPITAL: In Default of CNSX Requirements
-------------------------------------------------
Primaria Capital Canada Ltd. is in default of CNSX requirements.
Effective immediately, Primaria Capital is suspended pursuant to
CNSX Policy 3.  The suspension is considered a Regulatory Halt as
defined in National Instrument 23-101 Trading Rules.

Date: Effective Immediately, December 18, 2013

Symbol: PCA

Primaria Capital Canada Ltd. is an international finance company.


RESIDENTIAL CAPITAL: Affiliate Sues UBS on Faulty Home Mortgages
----------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that a Residential Capital LLC affiliate sued UBS AG and
two other banks for selling allegedly substandard loans that
ResCap packaged into securitizations.

According to the report, the bankruptcy judge signed a
confirmation order last week approving ResCap's Chapter 11 plan.

                     About Residential Capital

Residential Capital LLC, the unprofitable mortgage subsidiary of
Ally Financial Inc., filed for bankruptcy protection (Bankr.
S.D.N.Y. Lead Case No. 12-12020) on May 14, 2012.

Neither Ally Financial nor Ally Bank is included in the bankruptcy
filings.

ResCap, one of the country's largest mortgage originators and
servicers, was sent to Chapter 11 with 50 subsidiaries amid
"continuing industry challenges, rising litigation costs and
claims, and regulatory uncertainty," according to a company
statement.

ResCap disclosed $15.68 billion in assets and $15.28 billion in
liabilities at March 31, 2012.

Centerview Partners LLC and FTI Consulting are acting as financial
advisers to ResCap.  Morrison & Foerster LLP is acting as legal
adviser to ResCap.  Curtis, Mallet-Prevost, Colt & Mosle LLP is
the conflicts counsel.  Rubenstein Associates, Inc., is the public
relations consultants to the Company in the Chapter 11 case.
Morrison Cohen LLP is advising ResCap's independent directors.
Kurtzman Carson Consultants LLP is the claims and notice agent.

Ray C. Schrock, Esq., at Kirkland & Ellis LLP, in New York, serves
as counsel to Ally Financial.

ResCap sold most of the businesses for a combined $4.5 billion.
The Bankruptcy Court in November 2012 approved ResCap's sale of
its mortgage servicing and origination platform assets to Ocwen
Loan Servicing, LLC and Walter Investment Management Corporation
for $3 billion; and its portfolio of roughly 50,000 whole loans to
Berkshire Hathaway for $1.5 billion.

Judge Martin Glenn in December 2013 confirmed the Joint Chapter 11
Plan co-proposed by Residential Capital and the Official Committee
of Unsecured Creditors.


RG STEEL: Court Approves Deal Over Release of Collateral
--------------------------------------------------------
U.S. Bankruptcy Judge Kevin Carey approved an agreement between RG
Steel, LLC and National Union Fire Insurance Co., which requires
the Pittsburgh-based firm to return $1.5 million in cash to the
steel maker.

The agreement requires National Union to return $1.5 million of
the remaining cash, which RG Steel posted as collateral in
connection with the insurance provided by the firm.

Under the deal, National Union can assert an administrative
priority claim against RG Steel if both sides agree or if it is
determined in the arbitration commenced by the steel maker that
the firm is not secured enough to satisfy the obligations assumed
by the steel maker.  The agreement can be accessed for free at
http://is.gd/Z0gZBk

National Union was contracted by RG Steel and three affiliates to
provide insurance before they filed for bankruptcy protection.
The companies signed a deal under which RG Steel posted cash
collateral to secure its obligations to the insurance firm.  In
September, the steel maker commenced arbitration against the firm
to get the collateral back.

                         About RG Steel

RG Steel LLC -- http://www.rg-steel.com/-- is the United States'
fourth-largest flat-rolled steel producer with annual steelmaking
capacity of 7.5 million tons.  It was formed in March 2011
following the purchase of three steel facilities located in
Sparrows Point, Maryland; Wheeling, West Virginia and Warren,
Ohio, from entities related to Severstal US Holdings LLC.  RG
Steel also owns finishing facilities in Yorkville and Martins
Ferry, Ohio.  It also owned Wheeling Corrugating Company and has a
50% ownership in Mountain State Carbon and Ohio Coatings Company.

RG Steel along with affiliates, including WP Steel Venture LLC,
sought bankruptcy protection (Bankr. D. Del. Lead Case No. 12-
11661) on May 31, 2012.  Bankruptcy was precipitated by liquidity
shortfall and a dispute with Mountain State Carbon, LLC, and a
Severstal affiliate, that restricted the shipment of coke used in
the steel production process.

The Debtors estimated assets and debts in excess of $1 billion.
As of the bankruptcy filing, the Debtors owe (i) $440 million,
including $16.9 million in outstanding letters of credit, to
senior lenders led by Wells Fargo Capital Finance, LLC, as
administrative agent, (ii) $218.7 million to junior lenders, led
by Cerberus Business Finance, LLC, as agent, (iii) $130.5 million
on account of a subordinated promissory note issued by majority
owner The Renco Group, Inc., and (iv) $100 million on a secured
promissory note issued by Severstal.

Judge Kevin J. Carey presides over the case.

The Debtors are represented in the case by Robert J. Dehney, Esq.,
and Erin R. Fay, Esq., at Morris, Nichols, Arsht & Tunnell LLP,
and Matthew A. Feldman, Esq., Shaunna D. Jones, Esq., Weston T.
Eguchi, Esq., at Willkie Farr & Gallagher LLP, represent the
Debtors.  Conway MacKenzie, Inc., serves as the Debtors' financial
advisor and The Seaport Group serves as lead investment banker.
Donald MacKenzie of Conway MacKenzie, Inc., as CRO.  Kurtzman
Carson Consultants LLC is the claims and notice agent.

Wells Fargo Capital Finance LLC, as Administrative Agent, is
represented by Jonathan N. Helfat, Esq., and Daniel F. Fiorillo,
Esq., at Otterbourg, Steindler, Houston & Rosen, P.C.; and Laura
Davis Jones, Esq., and Timothy P. Cairns, Esq., at Pachuiski Stang
Ziehi & Jones LLP.

Renco Group is represented by lawyers at Cadwalader, Wickersham &
Taft LLP.

Kramer Levin Naftalis & Frankel LLP represents the Official
Committee of Unsecured Creditors.  Huron Consulting Services LLC
serves as the Committee's financial advisor.

The Debtor has sold off the principal plants.  The sale of the
Wheeling Corrugating division to Nucor Corp. brought in $7
million.  That plant in Sparrows Point, Maryland, fetched the
highest price, $72.5 million.  CJ Betters Enterprises Inc. paid
$16 million for the Ohio plant.


RG STEEL: Asks Court to Allow SPGS to Provide Additional Services
-----------------------------------------------------------------
RG Steel LLC has filed a supplemental application asking U.S.
Bankruptcy Judge Kevin Carey to authorize Sea Port Group
Securities LLC to provide additional services.

The steel maker wants the firm to provide investment banking and
advisory services in connection with the potential acquisition of
RG Steel Wheeling LLC's stake in Mountain State Carbon, LLC.

Mountain State is owned 50% by RG Steel Wheeling and 50% by SNA
Carbon LLC.  It was formed in 2005 as a joint venture to own and
operate a coal plant in Follansbee, West Virginia.

Sea Port won't receive monthly fees for the additional services.
The firm, however, will be paid a cash fee equal to 1% of the
"total economic value" of the acquisition.  It will only receive
$250,000 if the steel maker's interests or control thereof are
transferred to SNA Carbon or any of its affiliates.

RG Steel will also reimburse the firm for work-related expenses,
including legal costs.

A court hearing is scheduled for January 7.  Objections are due by
January 2.

                         About RG Steel

RG Steel LLC -- http://www.rg-steel.com/-- is the United States'
fourth-largest flat-rolled steel producer with annual steelmaking
capacity of 7.5 million tons.  It was formed in March 2011
following the purchase of three steel facilities located in
Sparrows Point, Maryland; Wheeling, West Virginia and Warren,
Ohio, from entities related to Severstal US Holdings LLC.  RG
Steel also owns finishing facilities in Yorkville and Martins
Ferry, Ohio.  It also owned Wheeling Corrugating Company and has a
50% ownership in Mountain State Carbon and Ohio Coatings Company.

RG Steel along with affiliates, including WP Steel Venture LLC,
sought bankruptcy protection (Bankr. D. Del. Lead Case No. 12-
11661) on May 31, 2012.  Bankruptcy was precipitated by liquidity
shortfall and a dispute with Mountain State Carbon, LLC, and a
Severstal affiliate, that restricted the shipment of coke used in
the steel production process.

The Debtors estimated assets and debts in excess of $1 billion.
As of the bankruptcy filing, the Debtors owe (i) $440 million,
including $16.9 million in outstanding letters of credit, to
senior lenders led by Wells Fargo Capital Finance, LLC, as
administrative agent, (ii) $218.7 million to junior lenders, led
by Cerberus Business Finance, LLC, as agent, (iii) $130.5 million
on account of a subordinated promissory note issued by majority
owner The Renco Group, Inc., and (iv) $100 million on a secured
promissory note issued by Severstal.

Judge Kevin J. Carey presides over the case.

The Debtors are represented in the case by Robert J. Dehney, Esq.,
and Erin R. Fay, Esq., at Morris, Nichols, Arsht & Tunnell LLP,
and Matthew A. Feldman, Esq., Shaunna D. Jones, Esq., Weston T.
Eguchi, Esq., at Willkie Farr & Gallagher LLP, represent the
Debtors.  Conway MacKenzie, Inc., serves as the Debtors' financial
advisor and The Seaport Group serves as lead investment banker.
Donald MacKenzie of Conway MacKenzie, Inc., as CRO.  Kurtzman
Carson Consultants LLC is the claims and notice agent.

Wells Fargo Capital Finance LLC, as Administrative Agent, is
represented by Jonathan N. Helfat, Esq., and Daniel F. Fiorillo,
Esq., at Otterbourg, Steindler, Houston & Rosen, P.C.; and Laura
Davis Jones, Esq., and Timothy P. Cairns, Esq., at Pachuiski Stang
Ziehi & Jones LLP.

Renco Group is represented by lawyers at Cadwalader, Wickersham &
Taft LLP.

Kramer Levin Naftalis & Frankel LLP represents the Official
Committee of Unsecured Creditors.  Huron Consulting Services LLC
serves as the Committee's financial advisor.

The Debtor has sold off the principal plants.  The sale of the
Wheeling Corrugating division to Nucor Corp. brought in $7
million.  That plant in Sparrows Point, Maryland, fetched the
highest price, $72.5 million.  CJ Betters Enterprises Inc. paid
$16 million for the Ohio plant.


RURAL/METRO CORP: Plan Confirmed After Creditor Settlement
----------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Rural/Metro Corp., a provider of emergency and non-
emergency medical transportation, got a green light to complete
a reorganization begun in August after the bankruptcy judge
signed a confirmation order on Dec. 17 approving the Chapter 11
plan.

According to the report, confirmation was simplified after a
settlement brought the creditors' committee into agreement with
the plan. In other respects, the plan was worked out before
bankruptcy. Ultimately, all creditor classes voted in favor of it.

Unsecured noteholders owed $312.2 million will receive all the new
preferred stock and 70 percent of the common stock in return for a
$135 million equity contribution through a rights offering.

Buyers were offering to purchase the $200 million in 10.125
percent senior unsecured notes on Dec. 17 for 57.375 cents on the
dollar, according to Trace, the bond-price reporting system of
the Financial Industry Regulatory Authority. The offering price
for the $108 million in unsecured notes was identical.

                      About Rural/Metro Corp

Headquartered in Scottsdale, Arizona, Rural/Metro Corporation --
http://www.ruralmetro.com-- is a national provider of 911-
emergency and non-emergency interfacility ambulance services and
private fire protection services, operating in 21 states and
nearly 700 communities.  Rural/Metro was acquired in 2011 in a
leveraged buyout by Warburg Pincus LLC as part of a transaction
valued at $676.5 million.

Rural/Metro Corp. and 59 affiliates sought Chapter 11 protection
(Bankr. D. Del. Lead Case No. 13-11952) on Aug. 4, 2013, before
the U.S. Bankruptcy Court for the District of Delaware.  Debt
includes $318.5 million on a secured term loan and $109 million on
a revolving credit with Credit Suisse AG serving as agent. There
is $312.2 million owing on two issues of 10.125 percent senior
unsecured notes.

The Debtors' lead bankruptcy counsel are Matthew A. Feldman, Esq.,
Rachel C. Strickland, Esq., and Daniel Forman, Esq., at Willkie
Farr & Gallagher LLP, in New York.  Maris J. Kandestin, Esq., and
Edmon L. Morton, Esq., at Young, Conaway, Stargatt & Taylor, LLP,
in Wilmington, Delaware, serve as the Debtors' local Delaware
counsel.

Alvarez & Marsal Healthcare Industry Group, LLC, and FTI
Consulting, Inc., are the Debtors' financial advisors, while
Lazard Freres & Co. L.L.C. is their investment banker.  Donlin,
Recano & Company, Inc., is the Debtors' claims and noticing agent.

The U.S. Trustee has appointed a three-member official committee
of unsecured creditors in the Chapter 11 case.

The Debtors have arranged $75 million of DIP financing from a
group of prepetition lenders led by Credit Suisse AG.  An interim
order has allowed the Debtors to access $40 million of the DIP
facility.

The Debtors have filed a reorganization plan largely worked out
before the Chapter 11 filing in early August.  Existing
shareholders receive nothing in the plan.

The Company's debt includes $318.5 million on a secured term loan
and $109 million on a revolving credit with Credit Suisse AG
serving as agent. There is $312.2 million owing on two issues of
10.125 percent senior unsecured notes.

Interested parties can also contact Rural/Metro's claims agent,
Donlin, Recano & Company, Inc. directly by calling Rural/Metro's
restructuring hotline at 212-771-1128.

Willkie Farr & Gallagher LLP and Young Conaway Stargatt & Taylor,
LLP are serving as legal counsel, Lazard Freres & Co. L.L.C. is
serving as investment banker, and Alvarez & Marsal and FTI
Consulting, Inc. are serving as financial advisors to Rural/Metro.


SCICOM DATA: Taps Judge George McGunnigle as Mediator
-----------------------------------------------------
Scicom Data Services, Ltd., asks the U.S. Bankruptcy Court for the
District of Minnesota for permission to employ George F.
McGunnigle, an attorney and senior judge for the Hennepin County
District Court, to mediate a claim objection.

Prior to the filing date, the Debtor and Actuate Corporation were
involved in litigation in the U.S. District Court for the District
of Minnesota regarding a software license.

To compensate Judge McGunnigle for his mediation services, the
Debtor and Actuate would each pay half of Judge McGunnigle's
hourly rate of $400, plus expenses.  Thus, the Debtor proposes to
pay Judge McGunnigle $200 per hour, plus half of any expenses.

For context, the Debtor's portion of the previous, prepetition
mediation attempt totaled $2,800.  That amount includes Judge
McGunnigle's time for scheduling, preparing for, and attending the
mediation.

To the best of the Debtor's knowledge, Judge McGunnigle is a
"disinterested person" as that term is defined in Section 101(14)
of the Bankruptcy Code.

                          About SCICOM

Headquartered in Minnetonka, Minnesota, SCICOM provides data
processing solutions that transform critical data into effective
customer communications, on any platform, at any time.  SCICOM's
business focus has been employee benefits, retirement and
investment services, and statement processing.

SCICOM Data Services, Ltd., filed a Chapter 11 petition (Bankr. D.
Minn. Case No. 13-43894) on Aug. 6, 2013, in Minneapolis,
Minnesota, with a deal to sell assets to Venture Solutions without
an auction.

Arden Hills, MN-based Venture Solutions is a provider of print and
digital transactional Communications and is a subsidiary of Taylor
Corporation.

Judge Michael E. Ridgway presides over the case.  The Debtor has
tapped Fredrikson & Byron, P.A., as counsel; Lighthouse Management
Group, Inc., as financial consultant; and Shenehon Company as
valuation expert.

The Debtor disclosed $13,254,128 in assets and $17,801,787 in
liabilities as of the Chapter 11 filing.  The petition was signed
by Timothy L. Johnson, senior vice president and CFO.

Daniel M. McDermott, the U.S. Trustee for Region 12, appointed
three creditors to serve in the Official Committee of Unsecured
Creditors in the Chapter 11 case of Scicom Data Services, Ltd.


SENTINEL MANAGEMENT: Trustee Wants $337 Million Back in Escrow
--------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that the bankruptcy trustee for defunct money manager
Sentinel Management Group Inc. wants Bank of New York Mellon Corp.
to put about $337 million back into escrow as the result of a loss
the bank suffered in an opinion handed down in August by the U.S.
Court of Appeals in Chicago.

According to the report, the appeals court ruled that the district
judge was wrong in dismissing the trustee's fraudulent transfer
and equitable subordination claims against the bank. The decision
meant that the bank might find itself with no claim at all or an
unsecured claim rather than a secured claim for $312 million.

Under Sentinel's confirmed Chapter 11 plan, funds were placed in
escrow to cover the bank's claim if it was victorious in the
lawsuit. After the district court ruled in the bank's favor, the
bank received about $312 million on its claim together with about
$24.5 million in interest.

The plan provided the payment "shall remain subject to
disgorgement if and to the extent that" the judgment is reversed
or modified on appeal.

Sentinel's trustee Frederick Grede filed papers in bankruptcy
court in Chicago on Dec. 16 asking the judge to compel the bank to
return the money to escrow.

The bank can argue that it was only "subject to disgorgement," not
required to disgorge. The lender can also contend that the case
was remanded, leaving open the possibility that the trustee may
lose when the district judge considers the case again.

Grede arranged a hearing in bankruptcy court on Dec. 19 to pursue
a return of the funds into escrow.

Whether Grede wins after remand won't be known for some time.

Grede filed papers in district court in November asking the judge
to enter judgment in his favor. The bank opposed and the judge set
down a schedule where the bank will file papers on Jan. 6. The
trustee will submit more papers on Feb. 3, allowing the bank a
final set of papers on Feb. 24.

The case is all the more peculiar because the bank initially
emerged victorious when the Seventh Circuit appeals court in
Chicago originally upheld dismissal of the suit in August 2012. At
Grede's request, the three judges announced they would review
their conclusion.

Reversing themselves in August, the same three judges set aside
their original ruling.

The August opinion from the circuit court might eventually mean
that the bank's claim will come behind other creditors under a
theory known as equitable subordination.

The appeal is In re Sentinel Management Group Inc., 10-3787, U.S.
Court of Appeals for the Seventh Circuit (Chicago). The suit in
district court is Grede v. Bank of New York, 08-cv-02582, U.S.
District Court, Northern District of Illinois (Chicago).

                     About Sentinel Management

Based in Northbrook, Illinois, Sentinel Management Group Inc. --
http://www.sentinelmgi.com/-- was a full service firm offering a
variety of security solutions.  The Company filed a voluntary
Chapter 11 petition (Bankr. N.D. Ill. Case No. 07-14987) on
Aug. 17, 2007.  Ronald Barliant, Esq., Randall Klein, Esq., and
Kathryn A. Pamenter, Esq., at Goldberg, Kohn, Bell & Black
Rosenbloom & Moritz, Ltd., represented the Debtor.  Lawyers at
Quinn, Emanuel Urquhart Oliver & Hedges, LLP, represented the
Official Committee of Unsecured Creditors.  When the Debtor sought
bankruptcy protection, it estimated assets and debts of more than
$100 million.

On Aug. 28, 2007, the Court approved Frederick Grede as the
Debtor's Chapter 11 Trustee.  Marc I. Fenton, Esq., at DLA Piper
US LLP, and Vincent E. Lazar, Esq, at Jenner & Block LLP,
represent the Chapter 11 Trustee.

The Court confirmed the Fourth Amended Chapter 11 Plan of
Liquidation for Sentinel on Dec. 15, 2008, which created a
Liquidation Trust.  The Plan became effective Dec. 17, 2008, and
Mr. Grede was appointed Liquidation Trustee.


SERVICENTRO CIALES: Case Summary & 9 Unsecured Creditors
--------------------------------------------------------
Debtor: Servicentro Ciales Inc.
        54 Jose de Diego Street
        Ciales, PR, 00638

Case No.: 13-10474

Chapter 11 Petition Date: December 17, 2013

Court: United States Bankruptcy Court
       District of Puerto Rico (Old San Juan)

Debtor's Counsel: Maria Soledad Lozada Figueroa, Esq.
                  MS LOZADA LAW OFFICE
                  PO Box 9023888
                  San Juan, PR 00902
                  Tel: 787 520 6002
                  Fax: 787 520 6003
                  Email: lcdamslozada@gmail.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Ariel Lopez, president.

A list of the Debtor's nine largest unsecured creditors is
available for free at http://bankrupt.com/misc/prb13-10474.pdf


SHILO INN, TWIN FALLS: Plan Outline Hearing Continued to Jan. 23
----------------------------------------------------------------
The U.S. Bankruptcy Court continued until Jan. 23, 2013, at 1:30
p.m., to consider adequacy of the Disclosure Statement explaining
Shilo Inn, Twin Falls, LLC, et al.'s Chapter 11 Plan.

As reported in the Troubled Company Reporter on Sept. 5, 2013, the
Debtors filed with the Court a Joint Plan of Reorganization and
Disclosure Statement dated Aug. 29, 2013.

Under the Plan, the Debtors propose to pay all claims in full,
unless otherwise agreed with the claimholder, with unsecured
claims to be paid over a three-month period from the Plan
Effective Date.

Non-insider general unsecured creditors can expect to have their
claims paid in full in this manner:

  -- The first payment will be made on the effective date of the
     Plan, which is anticipated to be on Jan. 2, 2014, in the
     aggregate amount of $64,596;

  -- The Reorganized Debtors will make two additional payments,
     each in the amount of $64,596 in months two and three
     following the Effective Date, for a total payout to non-
     insider general unsecured creditors in the amount of
     $193,788, which the Debtors believe constitutes 100% payment,
     excluding interest.

The Debtors included cash flow projections in its Plan proposal to
show that it will have sufficient cash on hand on the Plan
Effective Date to make the payment required.

A copy of the Plan and Disclosure Statement dated Aug. 29 is
available for free at:

     http://bankrupt.com/misc/SHILOINN_PlanDSAug29.PDF

                    About Shilo Inn, Twin Falls

Shilo Inn, Twin Falls, LLC, and six affiliates filed a Chapter 11
petition (Bankr. C.D. Cal. Case No. 13-21601) on May 1, 2013.
Judge Richard M. Neiter presides over the case.  Shilo Inn, Twin
Falls, estimated assets of at least $10 million and debts of at
least $1 million.

Shilo Inn, Twin Falls; Shilo Inn, Nampa Blvd, LLC; Shilo Inn,
Newberg, LLC; Shilo Inn, Seaside East, LLC, Shilo Inn, Moses Lake,
Inc.; and Shilo Inn, Rose Garden, LLC each operates and owns a
hotel.  California Bank and Trust is the primary, senior secured
lender for each of the Debtors.

The Debtors sought Chapter 11 protection after CBT on May 1, 2013,
filed for receiverships in district court.

David B. Golubchick, Esq., Kurt Ramlo, Esq., and J.P. Fritz, Esq.,
at Levene, Neale, Bender, Yoo & Brill LLP, in Los Angeles,
represent the Debtors in their restructuring effort.

The Debtors' Joint Plan of Reorganization dated Aug. 29, 2013,
provides for payment of all claims in full, unless otherwise
agreed with the claimholder, with unsecured claims to be paid over
a three-month period from the Plan Effective Date.


ST. FRANCIS' HOSPITAL: Case Summary & 30 Top Unsecured Creditors
----------------------------------------------------------------
Debtor affiliates filing separate Chapter 11 cases:

     Debtor                                         Case No.
     ------                                         --------
     St. Francis' Hospital, Poughkeepsie, New York  13-37725
     241 North Road
     Poughkeepsie, NY 12601

     St. Francis Home Care Services Corporation     13-37727

     St. Francis Health Care Foundation, Inc.       13-37726
     241 North Road
     Poughkeepsie, NY 12601

     Saint Francis Hospital Preschool Program       13-37728

     SFH Ventures, Inc.                             13-37729

Type of Business: Health Care

Chapter 11 Petition Date: December 17, 2013

Court: United States Bankruptcy Court
       Southern District of New York (Poughkeepsie)

Judge: Hon. Cecelia G. Morris

Debtors' Counsel: Christopher M. Desiderio, Esq.
                  NIXON PEABODY LLP
                  437 Madison Avenue
                  New York, NY 10022
                  Tel: (212) 940-3000
                  Fax: (212) 940-3111
                  Email: cdesiderio@nixonpeabody.com

Estimated Assets: $10 million to $50 million

Estimated Debts: $10 million to $50 million

The petition was signed by Arthur Nizza, D.S.W., president and
chief executive officer.


Consolidated List of Debtors' 30 Largest Unsecured Creditors:

   Entity                      Nature of Claim     Claim Amount
   ------                      ---------------     ------------
Cardinal Health, Inc.          Trade                $2,317,630
7000 Cardinal Place, Metro 3
Dublin, OH, 43017-1091
Email:
Thomas.sullivan01@cardinalhealth.com

HITNY                          Workers'             $1,392,215
NCA Comp., Inc.                Comp
Rand Building, Suite 700
14 Lafayette Sq.
Buffalo, NY 14203

Mohawk Valley Plan             Benefits               $937,696
625 State Street
P.O. Box 2207
Schenectady, NY, 12301-2207
Email:Cbrino@mvphealthcare.com

Key Interior Acoustical, LLC   Trade                  $665,546
327-329 MAIN St #100
Poughkeepsie, NY 12601
Email: tgm@contactkcs.com

Stryker                        Trade                  $648,650
2825 Airview Boulevard
Kalamazoo, MI, 49002
Michelle.Zick@styker.com

Columbia SFH, LLC              Rent                   $597,142
BBL Management Group
302 Washington Avenue Ext.
Albany, NY, 12203

American Express               Debt                   $572,994
P.O. Box 981540
El Paso, TX, 79998-1540

HTA-Poughkeepsie, LLC          Rent                   $556,877
463 King Street, Suite B
Charleston, SC, 29403
Email:
marcbattistone@htareit.com

Archdiocese of New York        Rent                   $554,976
1011 First Avenue, Floor 19
New York, NY, 10022
Email: Kadler@archny.org

J&J Healthcare Services        Trade                  $385,523
1 Johnson and Johnson Plaza
New Brunswick, NJ, 08933
Email:MPinckne@its.jnj.com

Owens & Minor                   Trade                 $339,719
9120 Lockwood Boulevard
Mechanicsville, VA, 23116
Email: Victoria.Smith@owens-minor.com

Renovo Solutions, LLC           Trade                 $324,955
1801 E. Parkcourt Place
Building D, Suite 206
Santa Ana, CA, 92701
Email:Jking@renovo1.com

Medtronic SD USA, Inc.           Trade                $310,405
710 Medtronic Parkway
Minneapolis, MN, 55432-5604
Email: warren.j.brennan@medronic.com

Boston Scientific                Trade                $297,968
Neuromodulat
1 Boston Scientific Place
Natick, MA, 01760-1537
Email: robert.perkins@bsci.com

Robert Savage                    Trade                $286,882
1140 High Hawk Road
East Greenwich, RI, 02818
Email: rsavage32@verizon.net

Spackenkill Union Free           Rent                 $279,886
15 Croft Road
Poughkeepsie, NY, 12603

Helen Renaudo                    Severance            $277,413
1 Eagle Lane
Poughkeepsie, NY, 12601

Sisters of St. Francis           Benefits             $245,627
1118 Court St., Suite 35
Syracuse, NY, 13208
Email:rmullen@sfhhc.org

Medical Information Technology   Trade                $241,464

Siemens Medical Solutions        Trade                $240,504

Philips Medical Systems          Trade                $235,970

Arthrex                          Trade                $215,478

The Center for Wound Healing/    Trade                $182,084
Restorix Health

GE Healthcare                    Trade                $178,975

Lifecell                         Trade                $172,484

Quest Diagnostics                Trade                $169,013

Zynx Health, Inc.                Trade                $157,900

The Omni Group, Inc.             Trade               $155,353

H.T. Lyons Contractors           Trade               $152,728

Craneware, Inc.                  Trade               $151,921


SUNTECH POWER: Directors Fan, King Step Down From Board
-------------------------------------------------------
Suntech Power Holdings Co., Ltd., disclosed that on Dec. 9, 2013,
Philip Fan resigned from the Company's Board of Directors with
immediate effect.

Another director, David King resigned from the Board with
immediate effect, on Nov. 29.

Wuxi, China-based Suntech Power Holdings Co., Ltd., produces solar
products for residential, commercial, industrial, and utility
applications.  Suntech has delivered more than 25,000,000
photovoltaic panels to over a thousand customers in more than 80
countries.

Suntech Power Holdings Co., Ltd., received from the trustee of its
3 percent Convertible Notes a notice of default and acceleration
relating to Suntech's non-payment of the principal amount of
US$541 million that was due to holders of the Notes on March 15,
2013.  That event of default has also triggered cross-defaults
under Suntech's other outstanding debt, including its loans from
International Finance Corporation and Chinese domestic lenders.

Suntech Power had involuntary Chapter 7 bankruptcy proceedings
initiated against it on Oct. 14, 2013, in U.S. Bankruptcy Court in
White Plains, New York (Bankr. S.D.N.Y. Case No. 13-bk-13350), by
holders of more than $1.5 million of defaulted securities under a
2008 $575 million indenture.  The Chapter 7 Petitioners are
Trondheim Capital Partners, L.P., Michael Meixler, Longball
Holdings, LLC, and Jiangsu Liquidators, LLC.  They are represented
by Jay Teitelbaum, Esq., at Teitelbaum & Baskin LLP, in White
Plains, New York.


SUNTECH POWER: European Unit Granted Payment Moratorium
-------------------------------------------------------
Suntech Power Holdings Co., Ltd., said Dec. 12 that Suntech Power
International Ltd., its principal operating subsidiary in Europe,
has been granted an extension of its definitive moratorium on
creditor claims from the judicial authorities in Schaffhausen,
Switzerland until June 19, 2014.

On June 18, 2013, the Company announced that SPI had been granted
a definitive moratorium for a six month period which may be
extended thereafter.

The extension of the definitive moratorium allows SPI additional
time to restructure its debt and reach an agreement with its
creditors.

                          About Suntech

Wuxi, China-based Suntech Power Holdings Co., Ltd., produces solar
products for residential, commercial, industrial, and utility
applications.  Suntech has delivered more than 25,000,000
photovoltaic panels to over a thousand customers in more than 80
countries.

Suntech Power Holdings Co., Ltd., received from the trustee of its
3 percent Convertible Notes a notice of default and acceleration
relating to Suntech's non-payment of the principal amount of
US$541 million that was due to holders of the Notes on March 15,
2013.  That event of default has also triggered cross-defaults
under Suntech's other outstanding debt, including its loans from
International Finance Corporation and Chinese domestic lenders.

Suntech Power had involuntary Chapter 7 bankruptcy proceedings
initiated against it on Oct. 14, 2013, in U.S. Bankruptcy Court in
White Plains, New York (Bankr. S.D.N.Y. Case No. 13-bk-13350), by
holders of more than $1.5 million of defaulted securities under a
2008 $575 million indenture.  The Chapter 7 Petitioners are
Trondheim Capital Partners, L.P., Michael Meixler, Longball
Holdings, LLC, and Jiangsu Liquidators, LLC.  They are represented
by Jay Teitelbaum, Esq., at Teitelbaum & Baskin LLP, in White
Plains, New York.


SUSIE CORPORATION: Voluntary Chapter 11 Case Summary
----------------------------------------------------
Debtor: Susie Corporation
        1500 US Highway 259 S
        Henderson, TX 75654

Case No.: 13-60949

Chapter 11 Petition Date: December 17, 2013

Court: United States Bankruptcy Court
       Eastern District of Texas (Tyler)

Judge: Hon. Bill Parker

Debtor's Counsel: Jonathan Lindley Howell, Esq.
                  MCCATHERN, PLLC
                  3710 Rawlins St., Suite 1600
                  Dallas, TX 75219
                  Tel: (214) 273-6409
                  Fax: (214) 741-4717
                  Email: jhowell@mccathernlaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Won Lee, president.

The Debtor did not file a list of its largest unsecured creditors
when it filed the petition.


TLC HEALTH NETWORK: Hospital in Upstate New York Files Chapter 11
-----------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that TLC Health Network, the owner of Lake Shore Hospital
in Irving, New York, filed a Chapter 11 petition on Dec. 16 in
Buffalo, New York, to close the facility by January and liquidate
the assets.

According to the report, on Lake Erie 29 miles (47 kilometers)
southwest of Buffalo, Lake Shore has been affiliated with Brooks
Memorial Hospital in Dunkirk, New York, for five years. During
that time, losses totaled $24 million, including $7.4 million in
the first nine months of 2013.

Brooks could no longer fund Lake Shore's losses without putting
itself out of business, so the decision was made to close in
January.

There should be a "meaningful distribution" to creditors when the
assets are sold in Chapter 11, Lake Shore said.

The hospital serves Chautauqua, Erie and Cattaraugus counties.

The case is In re TLC Health Network, 13-bk-13294, U.S. Bankruptcy
Court, Western District of New York (Buffalo).


TREEHOUSE FOODS: S&P Assigns Prelim BB- Rating on Sr. Unsec. Debt
-----------------------------------------------------------------
Standard & Poor's Ratings Services assigned its preliminary 'BB-'
senior unsecured debt, preliminary 'B' subordinated debt, and
preliminary 'B-' preferred stock ratings to Illinois-based
TreeHouse Foods Inc.'s rule 415 well-known seasoned issuer (WKSI)
universal shelf registration filed on Nov. 20, 2013.

"The ratings on TreeHouse Foods Inc. reflect our assessment of the
company's 'weak' business risk profile and 'significant' financial
risk profile," said Standard & Poor's credit analyst Bea Chiem.

Net proceeds from any offerings off the shelf are expected to be
used for working capital and other general corporate purposes,
including acquisitions, repayment or refinancing of debt, and
other business opportunities.  The net proceeds from the sale of
securities may be invested temporarily until they are used for
their stated purpose.


VELTI INC: No Competition for Blackstone in Buying Firm
-------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Velti Inc., a provider of marketing and advertising
services for mobile devices, receiving no bids to complete with
the offer by GSO Capital Partners LP to purchase the business in
exchange for debt, the assumption of specified debt, and $1.25
million in cash for curing payment defaults on contracts going
along with the sale.

According to the report, consequently, an auction was canceled,
and Velti will go to bankruptcy court in Delaware on Dec. 20
looking for approval of sale to GSO, an affiliate of Blackstone
Group LP. GSO acquired a $56.4 million secured credit on Nov. 1
from HSBC Bank NA, the lenders' agent.

GSO is also providing $30 million in financing to support the
Chapter 11 reorganization begun Nov. 4. The bankruptcy was
designed so the sale will be completed by the year's end.

                       About Velti Inc.

Velti Inc., a provider of technology for marketing on mobile
devices, sought Chapter 11 protection (Bankr. D. Del. Case No.
13-12878) on Nov. 4, 2013.

Velti Inc., a San Francisco-based unit of Velti Plc, listed assets
of as much $50 million and debt of as much as $100 million.  Its
Air2Web Inc. unit, based in Atlanta, also sought creditor
protection.

The parent, Dublin, Ireland-based Velti Plc, which trades on the
Nasdaq Stock Market, isn't part of the bankruptcy process.
Operations in the U.K., Greece, India, China, Brazil, Russia, the
United Arab Emirates and elsewhere outside the U.S. didn't seek
protection and business there will continue as usual.

The Debtors are represented by attorneys Stuart M. Brown, Esq., at
DLA Piper LLP (US), in Wilmington, Delaware; and Richard A.
Chesley, Esq., Matthew M. Murphy, Esq., and Chun I. Jang, Esq., at
DLA Piper LLP (US), in Chicago, Illinois.  The Debtors have also
tapped Jefferies LLC as investment banker, Sitrick Brincko Group
LLC, as corporate communications consultants, and BMC Group, Inc.,
as claims and noticing agent.

U.S. Bank, National Association, as administrative agent for GSO
Credit-A Partners, LP, GSO Palmetto Opportunistic Investment
Partners LP and GSO Coastline Partners LP, extended $25 million of
postpetition financing to the Debtors.  The DIP Lenders, which are
also the Prepetition Lenders, are represented by Sandy Qusba,
Esq., and Hyang-Sook Lee, Esq., at Simpson Thacher & Bartlett LLP,
in New York.

An Official Committee of Unsecured Creditors has been appointed in
the Debtors' cases.  The Committee has tapped McGuireWoods LLP as
lead counsel and Morris, Nichols, Arsht & Tunnell LLP as Delaware
co-counsel.  Asgaard Capital LLC serves as financial advisor to
the Committee.  Capstone Advisory Group LLC serves as consultant.


WALKER LAND: Can Employ Maynes Taggart as Bankruptcy Counsel
------------------------------------------------------------
Walker Land & Cattle, LLC, sought and obtained authority from the
U.S. Bankruptcy Court for the District of Idaho to employ Robert
J. Maynes, Esq., of Maynes Taggart, PLLC, as bankruptcy counsel,
under a general retainer at the standard hourly rate of $200 per
hour plus costs.

Prior to the Petition Date, a retainer of $75,000, including the
filing fee, was paid to Maynes Taggart.  The prepetition retainer
has been drawn down by not more than $5,000 for services rendered
prior to Petition Date.  Mr. Maynes assures the Court that neither
he nor his firm represents any interest adverse to the Debtor or
the estate in the matters upon which he is to be engaged for the
Debtor and his employment would be in the best interest of the
estate.

                 About Walker Land & Cattle, LLC

Walker Land & Cattle, LLC, sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. D. Idaho Case No. 13-41437) on
Nov. 15, 2013.  The case is assigned to Judge Jim D. Pappas.

The Debtor estimated assets and liabilities ranging from $50
million to $100 million.  The petition was signed by Roland N.
(Rollie) Walker, manager.

The Debtor's counsel is Robert J Maynes, Esq., at Maynes taggart,
PLLC, in Idaho Falls, Idaho.


WASHINGTON MUTUAL: J.P. Morgan Chase Sues FDIC
----------------------------------------------
Dan Fitzpatrick, writing for The Wall Street Journal, reported
that a five-year battle between the largest U.S. bank and one of
its regulators escalated when J.P. Morgan Chase & Co. sued the
Federal Deposit Insurance Corp. over the messy 2008 purchase of
Washington Mutual Inc.'s banking operations.

According to the report, J.P. Morgan made the purchase at the
encouragement of regulators, who hoped a deal would stabilize the
banking system at a pivotal moment during the financial crisis.

Since then, J.P. Morgan and the FDIC have squabbled over who must
shoulder the burden for legal claims stemming from decisions
Washington Mutual made before the deal, the report related.  J.P.
Morgan said the FDIC receivership that liquidated the failed
thrift in 2008 should pay any claims. The FDIC has countered that
J.P. Morgan is responsible.

The battle came to a head on Dec. 17 when the New York bank
alleged in its suit, filed in U.S. District Court in Washington,
D.C., that the FDIC receivership hasn't honored its obligations,
the report said. J.P. Morgan is seeking a portion of the $2.7
billion remaining in the receivership, which includes $1.88
billion J.P. Morgan paid for Washington Mutual's branches and
deposits.

The FDIC declined to comment, but it has said previously that J.P.
Morgan inherited those problems, which include mortgage bonds that
are the subject of numerous lawsuits from investors, the report
added.

                     About Washington Mutual

Based in Seattle, Washington, Washington Mutual Inc. --
http://www.wamu.com/-- was the holding company for Washington
Mutual Bank as well as numerous non-bank subsidiaries.

Washington Mutual Bank was taken over on September 25, 2008, by
U.S. government regulators.  The next day, WaMu and its affiliate,
WMI Investment Corp., filed separate petitions for Chapter 11
relief (Bankr. D. Del. 08-12229 and 08-12228, respectively).  WaMu
owns 100% of the equity in WMI Investment.


WENTWOOD BAYTOWN: Wants Final Decree Issued Before Dec. 31
----------------------------------------------------------
Wentwood Baytown, L.P., asks the U.S. Bankruptcy Court for the
Southern District of Texas to enter a final decree closing the
Chapter 11 case of the Debtor.

The Debtor said the Court on Sept. 19, 2013, entered an order
confirming the Debtor's Third Modified Plan of Reorganization.
Pursuant to Bankruptcy Rule 3022, the estate has been fully
administered.

The Debtor added that entry of final decree is timely if entered
prior to Dec. 31, 2013.  If not entered prior to the end of the
fourth quarter, 2013, the Debtor will incur, unnecessarily,
additional quarterly fees.

As reported in the Troubled Company Reporter on Sept. 26, 2013,
according to the Third Modified Plan, the Debtor is in the process
of arranging to fund the Plan of Reorganization out of (i) new
equity (in the form of mandatory and non-mandatory cash calls on
various limited partners); and (ii) collection of related party
receivables.  The funds necessary for the satisfaction of the
creditors' claims are to be generated, basically, as:

         New Equity Contribution                 $991,202
         Insurance Premium Refund                 $70,000
         Lender Held Hurricane Funds             $138,492
         ---------------------------             --------
         Total Sources of Funds:               $1,199,694

A copy of the Third Amended Plan is available for free at
http://bankrupt.com/misc/WENTWOOD_BAYTOWN_plan_modified.pdf

                 About Wentwood Baytown, L.P.

Wentwood Baytown, L.P., filed a Chapter 11 petition in Houston,
Texas (Bankr. S.D. Tex. Case No. 13-32151) on April 9.  The
petition was signed by Gary M. Gray as president of general
partner.  The Debtor estimated assets and debts of at least $10
million.  Judge Letitia Z. Paul presides over the case.  The
Debtor is represented by Matthew Hoffman, Esq., at Law Offices of
Matthew Hoffman, P.C.

The Debtor, which also uses the names Marina Club Apartments,
Briarwood Apartments, and The Dickinson Arms, owns properties in
Bayton and Dickinson, Texas.  The Debtor disclosed $14,599,753 in
assets and $14,813,172 in liabilities as of the Chapter 11 filing.

Judy A. Robbins, U.S. Trustee for Region 7, has notified the
Bankruptcy Court that she was unable to obtain a sufficient number
of eligible creditors interested in serving on the official
committee of unsecured creditors and has therefore been unable to
appoint a proper committee in the case.


WOLF MOUNTAIN: Section 341(a) Meeting Scheduled for Jan. 15
-----------------------------------------------------------
A meeting of creditors in the bankruptcy case of Wolf Mountain
Products, L.L.C., will be held on Jan. 15, 2014.  Creditors have
until April 15, 2014, to submit their proofs of claim.  For
governmental agencies, the bar date will be on June 10, 2014.

This is the first meeting of creditors required under Section
341(a) of the Bankruptcy Code in all bankruptcy cases.

All creditors are invited, but not required, to attend.  This
meeting of creditors offers the one opportunity in a bankruptcy
proceeding for creditors to question a responsible office of the
Debtor under oath about the company's financial affairs and
operations that would be of interest to the general body of
creditors.

Wolf Mountain Products, L.L.C., filed a Chapter 11 petition
(Bankr. D. Utah Case No. 13-33869) in Salt Lake City on Dec. 12,
2013.  Bryce J. Burns signed the petition as manager.

The Orem, Utah-based company estimated $10 million to $50 million
in assets and $1 million to $10 million in liabilities.  Anna W.
Drake, Esq., at the law firm of Anna W. Drake, P.C., in Salt Lake
City, serves as the Debtor's counsel.  Judge Joel T. Marker
presides over the case.


WVSV HOLDING: Initial Plan Confirmation Hearing Reset for Jan. 7
----------------------------------------------------------------
The Bankruptcy Court rescheduled until Jan. 7, 2014, at 10:00
a.m., the hearing on the initial confirmation of the (i) Amended
Plan of Reorganization filed by Michael W. Carmel, Ltd., counsel
to WVSV Holdings, LLC; and (ii) the competing Chapter 11 plan
filed by creditor 10K.

As reported in the Troubled Company Reporter on Nov. 28, 2013, the
initial confirmation hearing on two competing plans has been
continued to Dec. 9, 2013.

As reported in the Troubled Company Reporter on Sept. 2, 2013,
under the Debtor-proposed Plan, funding to pay creditors will be
from cash on hand; proceeds from the sale of any of the Debtor's
property; DIP Loan proceeds; and infusions of equity, if
necessary.  The Debtor believes that it will have sufficient cash
on hand to meet all the Plan's obligations.  The Debtor's best
projections are this figure will be no less than $300,000 (for
attorneys' fees), and perhaps as much as $800,000 -- if the Jan.
15, 2013 payment is factored, as well as additional expenses.

10K's Plan proposes two options:

     Option A -- The Plan will be funded by the Bankruptcy
                 Estate's sale of 855 acres of Tract A to 10K
                 for the purchase price of $8,551,000; and

     Option B -- 10K's Class 2 judgment claim, Class 4 secured
                 claim, Class 6 litigation claim, and Class 7
                 administrative claim against the Bankruptcy
                 Estate will be deemed satisfied by the transfer
                 to 10K of all of the Bankruptcy Estate's right,
                 title, and interests, both legal and equitable,
                 in and to all real property, personal property,
                 and contract rights.

The Debtor-proposed Plan will impair the secured claim of KPHV,
LLC, which will release its lien for payment at the rate of $200
per acre sold.  All unpaid principal and interest at the rate of
12% per annum will be due and payable on or before March 20, 2015.
The 10K Amended Creditor's Plan will not impair KPHV's secured
claim and will pay the allowed amount of the claim in full from
cash on hand of the bankruptcy estate.

10K LLC's judgment claim is unimpaired and will be paid in full
under the Debtor-sponsored Plan although the Debtor disputes the
asserted amount of the claim, which is $284,179.  Under 10K's
Plan, its judgment claim will be deemed satisfied by a credit
against the purchase price to be paid by 10K as part of the sale.
10K, LLC's secured claim is also unimpaired and will be paid in
full under the Debtor-sponsored Plan.  10K also asserts an
unsecured claim in the amount of $417,000,000.  The Debtor denies
liability on this claim.

General unsecured claims under the Debtor-sponsored Plan are
impaired and will receive 100% of its allowed general unsecured
claim.  Payments to general unsecured claims will be made in four
equal semi-annual payments, the first of which will commence
60 days after the Effective Date. Interest will accrue on these
claims at the federal judgment interest rate.

A full-text copy of the Disclosure Statement explaining the
Debtor's Amended Plan, dated Aug. 27, 2013, is available for free
at http://bankrupt.com/misc/WVSVdebtords0827.pdf

A full-text copy of the Disclosure Statement, explaining the 10K
Creditor's Amended Plan, dated Aug. 27, 2013, is available for
free at http://bankrupt.com/misc/WVSV10kds0827.pdf

                        About WVSV Holdings

W.V.S.V. Holdings LLC, the owner of about 13,000 acres of vacant
land in Buckeye, Arizona, filed a petition for Chapter 11
protection (Bankr. D. Ariz. Case No. 12-10598) on May 14, 2012, in
Phoenix.  The Debtor claims that the three tracts of land planned
for "future development" are worth $120 million and secure $57.3
million in debt.  The Debtor scheduled $120.04 million in assets
and $57.35 million in liabilities.

West Valley Ventures, LLC, owns 75% of the Debtor, and Breycliffe,
LLC, owns the remaining 25%.

Judge Redfield T. Baum, Sr., presides over the case.  Michael W.
Carmel, Esq., serves as the Debtor's counsel.  The petition was
signed by Lee Allen Johnson, manager of West Valley Ventures,
manager.

The U.S. Trustee has not appointed an official committee of
unsecured creditors in the Debtor's case because an insufficient
number of persons holding unsecured claims against the Debtor have
expressed interest in serving on a committee.  The U.S. Trustee
reserves the right to appoint the committee should interest
develop among the creditors.


YAHOO! INC: S&P Assigns Unsolicited 'BB+' CCR; Outlook Stable
-------------------------------------------------------------
Standard & Poor's Ratings Services assigned its unsolicited 'BB+'
corporate credit rating to Sunnyvale, Calif.-based Internet
company Yahoo! Inc.  The outlook is stable.

At the same time, S&P assigned a 'BB+' issue level rating and a
'3' recovery rating to the $1.25 billion convertible notes due
2018.  The '3' recovery rating indicates S&P's expectation for
meaningful (50% to 70%) recovery of principal for debtholders in a
default.

"The corporate credit rating incorporates our assumption of low-
to mid-single-digit percent growth in search advertising,
stabilization and eventual growth in display advertising starting
in 2015, healthy discretionary cash flow, and minimal debt
leverage," said Standard & Poor's credit analyst Andy Liu.

Standard & Poor's assesses Yahoo's business risk profile as
"fair," reflecting its presence in search advertising and display
advertising, strong brand recognition, a very large Internet
audience, and good profitability.  These considerations are
balanced by an intensely competitive Internet market with several
large competitors with more resources, and high new entrant risk.

"We believe that it will be very difficult for Yahoo to gain
market share against Google Inc. in search and Facebook Inc. in
display advertising," said Mr. Liu.  "However, we believe it is
possible for Yahoo to maintain its current market share."

Standard & Poor's views Yahoo's financial risk profile as
"modest." Yahoo's debt leverage is 0x after netting existing
excess cash.  The $1.25 billion convertible note is the only debt
instrument in the capital structure and the company had about
$3.2 billion of cash and short- and long-term market securities as
of Sept. 30, 2013.

The rating outlook is stable.  After several years of
restructuring and leadership changes, Yahoo's operating
performance is starting to show signs of stabilization and its
credit measures are good, with healthy discretionary cash flow.
S&P expects that adjusted debt leverage will remain minimal over
the intermediate term.


* Bankruptcy Judges Peck and Gropper to Retire
----------------------------------------------
Joseph Checkler, writing for The Wall Street Journal, reported
that the U.S. Bankruptcy Court in Manhattan is losing two veteran
judges to retirement next year.

According to the report, Judge James Peck, who presided over the
historic Lehman Brothers Chapter 11, will retire at the end of
next month, and Kodak Judge Allan L. Gropper will step down next
fall, according to a press release issued by the bankruptcy court
clerk for the Southern District of New York.

"They will be missed," said Chief Bankruptcy Judge Cecelia G.
Morris in the release, the report cited.  "Their influence will
continue through their well-reasoned written opinions."

Judge Peck took the bench in 2006 and two years later was handed
the case of a lifetime -- or two lifetimes -- when Lehman Brothers
collapsed into the largest ever bankruptcy in September 2008, the
report related.  Just over three years later he approved a plan
that would pay back creditors at least $65 billion -- a number
that has since increased to around $80 billion -- an outcome few
thought possible when the investment bank went under.

Judge Peck has also helped broker settlements in several
complicated cases, including Residential Capital creditors' $2.1
billion settlement with Ally Financial Inc., the report further
related.  Before being appointed, Judge Peck was a partner at
Schulte Roth & Zabel LLP representing debtors and creditors.

Judge Gropper has served since 2000, and presided over several key
cases, including that of Kodak Corp., the report added.  He also
recently issued one of the most important decisions of his
judicial career, saying Anadarko Petroleum is liable for billions
of dollars in cleanup costs for Tronox Ltd., whose bankruptcy he
presided over.  The decision, according to the report, came after
a lengthy trial last year over whether Anadarko -- which bought
former Tronox parent Kerr-McGee -- was liable for the cleanup.
Before becoming a judge, Mr. Gropper was a partner at White &
Case. His term will end Oct. 3, 2014.


* National Credit Default Rates Remain Stable in November 2013
--------------------------------------------------------------
Data through November 2013, released on Dec. 17 by S&P Dow Jones
Indices and Experian for the S&P/Experian Consumer Credit Default
Indices, a comprehensive measure of changes in consumer credit
defaults, showed stability in national default rates during the
month.  The national composite was 1.37% in November, a slight
decrease from 1.38% in October.  The first mortgage default rate
was 1.28% in November, down from 1.30% last month.  The second
mortgage posted 0.78% in November, up from 0.72% in October.  The
auto loan default rate was 1.15% in November, marginally higher
than 1.14% in the previous month.  The bank card rate was
unchanged from last month at 2.97%.

"Consumer credit quality remains healthy," says David M. Blitzer,
Managing Director and Chairman of the Index Committee for S&P Dow
Jones Indices.  "The indices remain at pre-financial crisis levels
and are stable.  All changes were small. Several factors account
for the good results.  The Debt Service Ratio, the percentage of
disposable income that consumers need to cover interest on their
debts is at record lows.  Outstanding mortgage debt continues to
decline from its peak in 2008 although revolving consumer credit
is growing.  Additionally, recent improvements in the overall
economy and the somewhat better labor market are also helping keep
consumer defaults low.

"Three cities -- Chicago, Dallas and Los Angeles -- saw default
rate decreases.  Los Angeles posted its lowest default rate since
September 2006, a low of 1.19%.  Miami and New York were the only
cities to post default rate increases.  Miami recorded 2.46%, 35
basis points higher than last month's level.  Miami has the
highest rate among the five cities while Los Angeles had the
lowest.  Four cities -- Chicago, Los Angeles, Miami and
New York -- remain below default rates they posted a year ago in
November 2012."

The table below summarizes the November 2013 results for the
S&P/Experian Credit Default Indices.  These data are not
seasonally adjusted and are not subject to revision.

        S&P/Experian Consumer Credit Default Indices
        National Indices
        Index           November 2013 October 2013  November 2012
                        Index Level   Index Level   Index Level
        Composite       1.37          1.38          1.64
        First Mortgage  1.28          1.30          1.58
        Second Mortgage 0.78          0.72          0.62
        Bank Card       2.97          2.97          3.58
        Auto Loans      1.15          1.14          1.09
        Source: S&P/Experian Consumer Credit Default Indices
        Data through November 2013

The table below provides the S&P/Experian Consumer Default
Composite Indices for the five MSAs:

        Metropolitan     November 2013 October 2013  November 2012
        Statistical Area Index Level   Index Level   Index Level
        New York         1.30          1.27          1.47
        Chicago          1.59          1.66          1.85
        Dallas           1.26          1.35          1.25
        Los Angeles      1.19          1.25          1.60
        Miami            2.46          2.11          2.66
        Source: S&P/Experian Consumer Credit Default Indices
        Data through November 2013

                   About S&P Dow Jones Indices

S&P Dow Jones Indices LLC -- http://www.spdji.com-- is a part of
McGraw Hill Financial, is the world's largest, global resource for
index-based concepts, data and research.  Home to iconic financial
market indicators, such as the S&P 500(R) and the Dow Jones
Industrial Average(TM), S&P Dow Jones Indices LLC has over 115
years of experience constructing innovative and transparent
solutions that fulfill the needs of investors.  More assets are
invested in products based upon our indices than any other
provider in the world.  With over 830,000 indices covering a wide
range of asset classes across the globe, S&P Dow Jones Indices LLC
defines the way investors measure and trade the markets.

                         About Experian

Experian is a global information services company, providing data
and analytical tools to clients around the world.  The Group helps
businesses to manage credit risk, prevent fraud, target marketing
offers and automate decision making.  Experian also helps
individuals to check their credit report and credit score, and
protect against identity theft.

Experian plc is listed on the London Stock Exchange (EXPN) and is
a constituent of the FTSE 100 index.  Total revenue for the year
ended 31 March 2013 was US$4.7 billion.  Experian employs
approximately 17,000 people in 40 countries and has its corporate
headquarters in Dublin, Ireland, with operational headquarters in
Nottingham, UK; California, US; and Sao Paulo, Brazil.


* SAC's Steinberg Convicted in Insider-Trading Case
---------------------------------------------------
Christopher M. Matthews, writing for The Wall Street Journal,
reported that a jury found a senior employee of SAC Capital
Advisors LP guilty of insider trading, a verdict that deals
another blow to the giant hedge fund and its billionaire founder,
Steven A. Cohen.

According to the report, the guilty verdict for Michael Steinberg
came after roughly ten hours of deliberation over two days and
could send him to prison. More broadly, prosecutors are now armed,
for the first time, with validation from a federal jury that they
have enough evidence to prove there was insider trading at SAC.

The government has been investigating the firm for a decade, the
report said.  Six former employees of the company and the firm
itself have pleaded guilty to insider trading, but Mr. Steinberg's
conviction is the first to be handed down at trial.

A former SAC portfolio manager, Mathew Martoma, charged with
allegedly trading using inside information from a neurologist
about an Alzheimer's drug trial in July 2008, is expected to go on
trial next month, the report added.

Mr. Martoma has pleaded not guilty, the report related.  "The
facts in Mr. Steinberg's case are totally unrelated to the case
against Mr. Martoma," Richard Strassberg, Mr. Martoma's lawyer,
said on Dec. 17.


* Snell & Wilmer Elects 15 New Partners
---------------------------------------
Snell & Wilmer on Dec. 18 announced that 15 attorneys have been
elected to join the firm's partnership, effective January 1, 2014.

"We are extremely proud to welcome this group of very talented
attorneys into our partnership," said Chairman John Bouma.  "Their
exceptional legal skills, leadership, achievements and commitment
to client service set them apart."

Snell & Wilmer's new partners are:

David G. Barker (Phoenix) - Barker is an intellectual property
litigator with experience in patent infringement, trademark
infringement, copyright infringement, unfair competition, false
advertising, trade secret, and trademark opposition and
cancellation cases.  He has trial experience in federal and state
court.  Mr. Barker also is a registered patent attorney with the
United States Patent and Trademark Office and has prosecuted
patent, trademark and copyright applications.  He has experience
counseling clients regarding intellectual property portfolio
development and strategy, and in licensing, business transactions,
due diligence, and clearance, infringement and patentability
searches.  Mr. Barker's technical and case experience includes
computer, Internet, mechanical, electrical, heat transfer, fluid
dynamics, communications, financial and power systems, as well as
software, firearms, food processing devices and medical devices.
Barker earned his J.D. from Duke University School of Law and both
his B.S. and M.S. from Brigham Young University.

Marek P. Bute (Las Vegas) - Mr. Bute's practice is concentrated in
business and commercial litigation, with an emphasis on contract
disputes and claims relating to construction, lien law, arts and
entertainment, and hospitality.  His experience also extends to
disputes involving copyright infringement, creditors' rights,
insurance coverage and defense, bad faith claims, commercial lease
disputes, receiverships, deficiencies, and other actions seeking
damages, extraordinary relief, injunctive relief, declaratory
relief and other remedies in state and federal litigation,
arbitration, mediation and other forms of alternate dispute
resolution.  He has represented a range of clients that includes
recording artists, performance rights organizations, hotels,
casinos, commercial and residential owners, developers,
construction managers, general contractors, subcontractors,
suppliers, financial institutions and insurance companies in
multimillion dollar commercial litigation.  Mr. Bute earned his
J.D., magna cum laude, from Roger Williams University School of
Law and his B.A., magna cum laude, from Pepperdine University.

Manuel H. Cairo (Phoenix) - Cairo's practice is concentrated on
labor and employment, and immigration law matters.  He represents
employers in single and multi-plaintiff disputes in federal and
state courts regarding discrimination, harassment, retaliation,
breach of contract, wage and hour, trade secret, wrongful
termination, business torts, and other types of employment
matters.  He has experience representing employers regarding
occupational safety and health, and workers' compensation matters
before the Industrial Commission of Arizona.  His practice also
focuses on counseling employers on worksite enforcement and
corporate compliance strategies.  Cairo regularly advises
employers in developing comprehensive best practices designed to
avoid employer liability under both federal and state immigration
laws.  Cairo earned his J.D. from the University of Iowa College
of Law and his B.A. from the University of California Los Angeles.

Justin L. Carley (Las Vegas) - Mr. Carley's practice is
concentrated in commercial litigation with an emphasis on contract
disputes that are typically related to real property, entity
control, business conflicts and a variety of other topics.  He is
experienced in federal and state litigation, AAA and other private
arbitration, and a variety of forms of mediation and alternative
dispute resolution.  This experience includes prosecuting and
defending actions seeking monetary damages, injunctive relief,
declaratory relief, appointment of receivers, deficiency judgments
and other remedies, both before and after judgment, and including
appeal.  Mr. Carley's recent case load deals primarily with the
high-rise condominium and condominium/hotel markets in Las Vegas,
Nevada, but also includes a substantial amount of other real
property litigation.  He earned his J.D. from the University of
Nevada - Las Vegas, William S. Boyd School of Law and his B.A.,
summa cum laude, from Rhode Island College.

Timothy J. Dance (Salt Lake City) - Dance is a member of the
firm's Bankruptcy Practice Group.  His practice is concentrated
primarily in bankruptcy, reorganization, creditor's rights,
foreclosure, receivership, and workout law; and federal and state
court commercial and business litigation.  He has extensive
experience in the foreclosure of real and personal property and
regularly represents creditors in enforcing, collecting and
restructuring financial transactions.  Dance earned his J.D. from
the University of Washington School of Law and his B.A. in
Political Science, with a minor in Business Management, from
Brigham Young University.

Brian P. Gaffney (Denver) - Mr. Gaffney is a Business and Finance
attorney who helps clients make and enforce their business deals.
His practice is concentrated in business, finance, commercial and
agri-finance, agriculture law, agriculture transactions,
receivership, lender liability defense, creditors' rights, banking
and bankruptcy.  Mr. Gaffney graduated with honors from Stanford
University with his undergraduate degree in political science
while earning four letters playing football for the Stanford
Cardinal.  He also obtained his master's degree from Stanford
University in political sociology, before earning his J.D. with
honors from The University of Texas School of Law.

Robert F. Kethcart (Phoenix) - Mr. Kethcart is a business attorney
and litigator whose practice focuses on insurance coverage, real
estate litigation, and medical and dental liability defense. In
the insurance arena, he advises carriers and policyholders with a
wide range of issues, including policy development, policy
interpretation and coverage analyses, and compliance, and he
litigates coverage disputes and bad faith claims.  He represents
businesses and individuals in complex business litigation
involving real estate title and lending disputes, contract-based
claims, and business torts such as fraud, misrepresentation, and
intentional interference with contract.  In his healthcare
practice, Mr. Kethcart represents healthcare providers in
litigation and before state licensing boards.  He also advises
dentists in connection with the sale and purchase of dental
practices, and he provides ongoing legal counsel to dental
practices regarding various issues that arise in the day-to-day
operation of their businesses.  Mr. Kethcart earned his J.D. from
the University of Kansas School of Law and his B.S. from the
University of Colorado.

Eric L. Kintner (Denver) - Mr. Kintner concentrates his practice
in representing various health care organizations.  His experience
includes executing and managing complex health care transactions,
including mergers and acquisitions, joint ventures, co-management
arrangements and physician buy-sell transactions, for both
nonprofit and for-profit health care organizations, as well as
advising clients on issues involving hospital-physician alignment,
reimbursement in the Medicare and Medicaid programs, HIPAA and
HITECH compliance, fraud and abuse compliance (including Stark and
Anti-Kickback), health care IT and electronic health record
contracts, provider and facility licensure, best practices in
corporate governance and the impact of health care reform on
hospitals and physicians, among others.  Mr. Kintner is also
experienced in advising clients in various business transactions,
including mergers and acquisitions, venture capital and private
equity, securities law and broker-dealer regulations, entity and
fund formation, and general corporate governance issues.  His
practice also includes representation of clients in various
aspects of gaming law, including sweepstakes, contests, charitable
raffles, tribal gaming, internet gaming and social media
promotions.  Mr. Kinter received his J.D. with distinction from
the University of Iowa College of Law and his B.A. with
distinction and honors from the University of Iowa.

Kelly A. Kszywienski (Phoenix) - Ms. Kszywienski assists clients
in resolving complex commercial disputes, disputes involving
governmental entities and appeals.  In her commercial practice,
she has represented individuals, financial institutions, and
business entities in disputes involving commercial contracts,
business torts, and various state and federal statutory schemes.
Her governmental practice has included disputes regarding the
validity and construction of state and federal statutes and claims
arising under the Arizona and U.S. Constitutions.  In her
appellate practice, she has been involved in numerous appeals
before the Ninth Circuit Court of Appeals, state courts of appeal
and state supreme courts.  She has also represented the interests
of amici curiae and participated in a merits case before the
United States Supreme Court.  Ms. Kszywienski earned her J.D.,
summa cum laude, from the University of Toledo College of Law
where she was valedictorian, and her B.A. from the University of
Connecticut.

Michael T. Liburdi (Phoenix) - Mr. Liburdi focuses his practice on
healthcare litigation, commercial litigation, government relations
and election law.  He has extensive experience in complex
commercial litigation disputes that includes antitrust,
securities, breach of contract and professional negligence
actions.  His election law practice includes advising candidates
and initiative committees on matters ranging from constitutional
law, campaign finance law compliance, election law complaints and
initiative drafting.  Mr. Liburdi received both his J.D. and B.S.
from Arizona State University and clerked for the Hon. Ruth V.
McGregor on the Supreme Court of Arizona.

Amelie Bredas Messingham (Tucson) - Ms. Messingham's practice is
concentrated in commercial finance and real estate.  She regularly
represents financial institutions on a wide range of matters,
including real estate secured lending transactions, construction
loans, hotel loans, loan sales, and loan restructures and
workouts.  She also has significant experience providing legal
services with respect to commercial real estate acquisition
matters.  Ms. Messingham earned her J.D., cum laude, from the
University of Georgia and her B.A. in Economics and History, minor
in Math, summa cum laude, with honors, from the University of
Arizona.

William F. Mulholland, II (Phoenix) - Mr. Mulholland's practice is
concentrated in intellectual property law, including patent,
copyright, and trademark licensing, litigation and procurement.
His past experience includes serving as in-house counsel for
pharmaceutical and agribusiness-based industries.  A substantial
portion of Mr. Mulholland's practice involves strategic counseling
for these industries, including all IP-related aspects of
discovery, development and commercialization activities.  He has
extensive transactional experience and has successfully negotiated
a wide range of licenses and other agreements in support of
various industry and university alliances.  His patent procurement
practice includes comprehensive life-cycle management planning,
from emerging technologies to post-patent expiry of commercial
products.  His practice also includes U.S. interferences and
European oppositions as well as matters before the USPTO Board of
Appeals and the Federal Courts.  Mr. Mulholland earned his J.D.
from the University of Southern California Law School and his
master's degree in Molecular Biology from Brown University.  He
received his B.S., cum laude, from the University of Arizona.

Eric M. Nielsen (Salt Lake City) - Mr. Nielsen's practice is
centered on intellectual property counseling -- in particular, the
design and implementation of business driven strategies to
identify, protect, defend, enforce and otherwise build value
around IP assets, including patents, trademarks, copyrights and
trade secrets.  He has experience in many facets of IP law
including patent and trademark prosecution (U.S. and foreign),
proceedings before the Patent and Trademark Trial and Appeal
Boards, freedom to operate diligence, invalidity and non-
infringement opinion work, patentability diligence, trademark
screening, IP dispute resolution and litigation (state and
federal), and diverse agreements and business transactions having
IP components.  Mr. Nielsen earned his J.D. from Santa Clara
University School of Law and his B.S. from the University of Utah
in Biomedical Engineering.

Joshua Schneiderman (Los Angeles) - Mr. Schneiderman is a member
of the firm's Business & Finance group.  He advises clients on a
wide range of transactional matters, including mergers and
acquisitions, joint ventures and public and private offerings of
debt and equity securities. In addition, Mr. Schneiderman advises
clients on matters related to franchising, including the
establishment of new franchise systems and the expansion of
existing franchise systems nationally and internationally.  He
also advises public and private companies on corporate governance
matters, and serves as outside general counsel to many of his
clients.  Mr. Schneiderman earned his J.D. from the University of
California, Los Angeles School of Law and his B.S. in Industrial
and Labor Relations at Cornell University.  He is also a member of
the Executive Committee of the Los Angeles County Bar
Association's Business and Corporations Law Section.

Jessica E. Yates (Denver) - Ms. Yates' practice is concentrated in
business litigation and appeals in both federal and state courts,
and includes dispute resolution with special districts, state and
local governments, and federal agencies.  She has experience in
infrastructure issues, public-private partnerships, environmental
law, real estate and construction litigation, agribusiness law,
criminal appeals, securities law, and insurance coverage disputes.
Yates earned her J.D. from Virginia School of Law, her M.A. in
Administration and Public Policy from the University of York,
England and her B.A., with distinction, from the University of
North Carolina at Chapel Hill.

                     About Snell & Wilmer L.L.P.

Founded in 1938, Snell & Wilmer -- http://www.swlaw.com-- is a
full-service business law firm with more than 400 attorneys
practicing in nine locations throughout the western United States
and in Mexico, including Phoenix and Tucson, Arizona; Los Angeles
and Orange County, California; Denver, Colorado; Las Vegas and
Reno, Nevada; Salt Lake City, Utah; and Los Cabos, Mexico.  The
firm represents clients ranging from large, publicly traded
corporations to small businesses, individuals and entrepreneurs.


* Recent Small-Dollar & Individual Chapter 11 Filings
-----------------------------------------------------

In re Andrew Reder
   Bankr. C.D. Cal. Case No. 13-17664
      Chapter 11 Petition filed December 11, 2013

In re Walter Dodge
   Bankr. C.D. Cal. Case No. 13-19921
      Chapter 11 Petition filed December 11, 2013

In re Esther Lee
   Bankr. C.D. Cal. Case No. 13-39125
      Chapter 11 Petition filed December 11, 2013

In re Curtis Knott
   Bankr. C.D. Cal. Case No. 13-39153
      Chapter 11 Petition filed December 11, 2013

In re J & R of Flagler County, Inc.
   Bankr. M.D. Fla. Case No. 13-07256
     Chapter 11 Petition filed December 11, 2013
         See http://bankrupt.com/misc/flmb13-07256.pdf
         represented by: Scott W. Spradley, Esq.
                         LAW OFFICES OF SCOTT W. SPRADLEY, P.A.
                         E-mail:
scott.spradley@flaglerbeachlaw.com

In re TK Car College, LLC
   Bankr. M.D. Fla. Case No. 13-16185
     Chapter 11 Petition filed December 11, 2013
         See http://bankrupt.com/misc/flmb13-16185.pdf
         represented by: Perry G. Gruman, Esq.
                         PERRY G. GRUMAN, P.A.
                         E-mail: ross@grumanlaw.com

In re Lenox 325 LLC
   Bankr. S.D. Fla. Case No. 13-39440
     Chapter 11 Petition filed December 11, 2013
         See http://bankrupt.com/misc/flsb13-39440.pdf
         represented by: Jason H. Haber, Esq.
                         HABER, STIEF & BLANK, LLP
                         E-mail: jhaber@hsbattorneys.com

In re Rustle Hill Winery, LLC
   Bankr. S.D. Ill. Case No. 13-41324
     Chapter 11 Petition filed December 11, 2013
         See http://bankrupt.com/misc/ilsb13-41324.pdf
         represented by: Douglas A. Antonik, Esq.
                         ANTONIK LAW OFFICES
                         E-mail: antoniklaw@charter.net

In re C L Partners, Inc.
   Bankr. N.D. Ind. Case No. 13-24342
     Chapter 11 Petition filed December 11, 2013
         See http://bankrupt.com/misc/innb13-24342p.pdf
         See http://bankrupt.com/misc/innb13-24342c.pdf
         represented by: Andrew J. Kopko, Esq.
                         LAW FIRM OF JACK KOPKO
                         E-mail: ajkopko@kmslawoffice.net

In re Mobile Imaging, Inc.
   Bankr. W.D. La. Case No. 13-21131
     Chapter 11 Petition filed December 11, 2013
         See http://bankrupt.com/misc/lawb13-21131.pdf
         represented by: H. Kent Aguillard, Esq.
                         E-mail: kaguillard@yhalaw.com

In re Darrell Stavros
   Bankr. E.D. Miss. Case No. 13-62269
      Chapter 11 Petition filed December 11, 2013

In re David Semas
   Bankr. D. Nev. Case No. 13-52337
      Chapter 11 Petition filed December 11, 2013

In re Lawrence Davis
   Bankr. D. N.J. Case No. 13-36908
      Chapter 11 Petition filed December 11, 2013

In re Jerry Hairrell
   Bankr. E.D. Okla. Case No. 13-81487
      Chapter 11 Petition filed December 11, 2013

In re D&W Well Service Inc.
   Bankr. W.D. Pa. Case No. 13-25158
     Chapter 11 Petition filed December 11, 2013
         See http://bankrupt.com/misc/pawb13-25158.pdf
         represented by: Kenneth Steidl, Esq.
                         STEIDL & STEINBERG
                         E-mail: julie.steidl@steidl-steinberg.com

In re Felipe Colon Borges
   Bankr. D. P.R. Case No. 13-10275
      Chapter 11 Petition filed December 11, 2013

In re Chicken Quick & Caribbean Breeze, Inc.
        aka El Taquito
   Bankr. D. P.R. Case No. 13-10289
     Chapter 11 Petition filed December 11, 2013
         See http://bankrupt.com/misc/prb13-10289.pdf
         represented by: Hector Juan Figueroa Vincenty, Esq.
                         EL BUFETE DEL PUEBLO, PSC
                         E-mail: quiebras@elbufetedelpueblo.com

In re Robert Rinkenberger
   Bankr. N.D. Tex. Case No. 13-36386
      Chapter 11 Petition filed December 11, 2013

In re Collaspe Impossible, Inc.
   Bankr. W.D. Wash. Case No. 13-20727
     Chapter 11 Petition filed December 11, 2013
         See http://bankrupt.com/misc/wawb13-20727.pdf
         represented by: Jason E. Anderson, Esq.
                         LAW OFFICE OF JASON E. ANDERSON
                         E-mail: jason@jasonandersonlaw.com

In re Aida Soulahian
   Bankr. C.D. Cal. Case No. 13-39237
      Chapter 11 Petition filed December 12, 2013

In re Kera Vacaville
   Bankr. N.D. Cal. Case No. 13-32633
      Chapter 11 Petition filed December 12, 2013

In re Brugge Investments, LLC
   Bankr. S.D. Cal. Case No. 13-11891
     Chapter 11 Petition filed December 12, 2013
         See http://bankrupt.com/misc/casb13-11891.pdf
         represented by: Bill Parks, Esq.
                         LAW OFFICE OF BILL PARKS
                         E-mail: attparks@aol.com

In re Paul Danio
   Bankr. D. Colo. Case No. 13-30319
      Chapter 11 Petition filed December 12, 2013

In re William Bies
   Bankr. M.D. Fla. Case No. 13-07269
      Chapter 11 Petition filed December 12, 2013

In re Maximum Life Christian Church, Inc.
   Bankr. M.D. Fla. Case No. 13-15022
     Chapter 11 Petition filed December 12, 2013
         See http://bankrupt.com/misc/flmb13-15022.pdf
         represented by: Lerone M. Thurston, Esq.
                         E-mail: attythurston@gmail.com

In re Donate.Net, Inc.
        fka Conscious Change, Inc.
   Bankr. N.D. Ga. Case No. 13-76842
     Chapter 11 Petition filed December 12, 2013
         See http://bankrupt.com/misc/ganb13-76842.pdf
         represented by: Paul Reece Marr, Esq.
                         PAUL REECE MARR, P.C.
                         E-mail: paul@paulmarr.com

In re City Home Care, LLC
   Bankr. N.D. Miss. Case No. 13-15161
     Chapter 11 Petition filed December 12, 2013
         See http://bankrupt.com/misc/msnb13-15161.pdf
         represented by: James W. Amos, Esq.
                         E-mail: jwamosattorney@aol.com

In re Frontier Group, LLC
   Bankr. D. Mont. Case No. 13-61605
     Chapter 11 Petition filed December 12, 2013
         See http://bankrupt.com/misc/mtb13-61605.pdf
         represented by: Edward A. Murphy, Esq.
                         MURPHY LAW OFFICES, PLLC
                         E-mail: murphylawecf@gmail.com

In re RLP-Ampus Place, LLC
   Bankr. D. Nev. Case No. 13-20325
     Chapter 11 Petition filed December 12, 2013
         See http://bankrupt.com/misc/nvb13-20325.pdf
         represented by: J. Charles Coons, Esq.
                         COOPER COONS, LTD.
                         E-mail: charles@coopercoons.com

In re Plymouth House of Pizza and Restaurant, Inc.
   Bankr. D. N.H. Case No. 13-12984
     Chapter 11 Petition filed December 12, 2013
         See  http://bankrupt.com/misc/nhb13-12984.pdf
         represented by: Peter V. Doyle, Esq.
                         SHAINES & MCEACHERN
                         E-mail: pdoyle@shaines.com

In re Ernesto Amaya
   Bankr. D. Ore. Case No. 13-37655
      Chapter 11 Petition filed December 12, 2013

In re Win Access, Inc.
   Bankr. D. P.R. Case No. 13-10338
     Chapter 11 Petition filed December 12, 2013
         See http://bankrupt.com/misc/prb13-10338.pdf
         represented by: Carlos Rodriguez Quesada, Esq.
                         LAW OFFICE OF CARLOS RODRIGUEZ QUES
                         E-mail: cerqlaw@coqui.net

In re Rick Short
   Bankr. M.D. Tenn. Case No. 13-10573
      Chapter 11 Petition filed December 12, 2013

In re Robert Tesch
   Bankr. W.D. Tex. Case No. 13-12227
      Chapter 11 Petition filed December 12, 2013

In re Clyde Yancey
   Bankr. W.D. Wash. Case No. 13-20757
      Chapter 11 Petition filed December 12, 2013
In re White Mountain Lodge, LLC
   Bankr. D. Ariz. Case No. 13-21338
     Chapter 11 Petition filed December 13, 2013
         See http://bankrupt.com/misc/azb13-21338.pdf
         represented by: Clifford B. Altfeld, Esq.
                         ALTFELD & BATTAILE, P.C.
                         E-mail: cbaltfeld@abazlaw.com

In re Martin Morales
   Bankr. N.D. Cal. Case No. 13-56392
      Chapter 11 Petition filed December 13, 2013

In re Allan Achillich
   Bankr. M.D. Fla. Case No. 13-16328
      Chapter 11 Petition filed December 13, 2013

In re Frank Saljanin
   Bankr. M.D. Fla. Case No. 13-56392
      Chapter 11 Petition filed December 13, 2013

In re Maria Isaza
   Bankr. S.D. Fla. Case No. 13-39644
      Chapter 11 Petition filed December 13, 2013

In re Paul Ergon
   Bankr. S.D. Fla. Case No. 13-39649
      Chapter 11 Petition filed December 13, 2013

In re Deborah Gindi
   Bankr. S.D. Fla. Case No. 13-39664
      Chapter 11 Petition filed December 13, 2013

In re Navarro Enterprise Construction, Inc.
   Bankr. D. Nebr. Case No. 13-82567
     Chapter 11 Petition filed December 13, 2013
         See http://bankrupt.com/misc/neb13-82567.pdf
         represented by: David Grant Hicks, Esq.
                         POLLAK & HICKS, P.C.
                         E-mail: dhickslaw@aol.com

In re Primecare Nevada, Inc.
        dba NYE Regional Medical Center
   Bankr. D. Nev. Case No. 13-20348
     Chapter 11 Petition filed December 13, 2013
         See http://bankrupt.com/misc/nvb13-20348.pdf
         represented by: David A. Colvin, Esq.
                         E-mail: dcolvin@maclaw.com

In re Namber, LLC
   Bankr. D. N.H. Case No. 13-12991
     Chapter 11 Petition filed December 13, 2013
         See http://bankrupt.com/misc/nhb13-12991.pdf
         represented by: Eleanor Wm. Dahar, Esq.
                         VICTOR W. DAHAR PROFESSIONAL ASSOCIATION
                         E-mail: edahar@att.net

In re Owen's Marine, Inc.
   Bankr. D. N.H. Case No. 13-12992
     Chapter 11 Petition filed December 13, 2013
         See http://bankrupt.com/misc/nhb13-12992.pdf
         represented by: Eleanor Wm. Dahar, Esq.
                         VICTOR W. DAHAR PROFESSIONAL ASSOCIATION
                         E-mail: edahar@att.net

In re Jaeely Realty, LLC
   Bankr. E.D.N.Y. Case No. 13-47424
     Chapter 11 Petition filed December 13, 2013
         See http://bankrupt.com/misc/nyeb13-47424.pd
         Filed as Pro Se

In re Rene Garcia
   Bankr. E.D.N.Y. Case No. 13-76217
      Chapter 11 Petition filed December 13, 2013

In re Pizza Unlimited Sevierville, LLC
   Bankr. E.D. Tenn. Case No. 13-34367
     Chapter 11 Petition filed December 13, 2013
         See http://bankrupt.com/misc/tneb13-34367.pdf
         represented by: Barry W. Eubanks, Esq.
                         SCOTT AND EUBANKS, P.C.
                         E-mail: barry@scottlawgroup.com

In re Manas Properties, LLC
   Bankr. E.D. Tex. Case No. 13-42950
     Chapter 11 Petition filed December 13, 2013
         See http://bankrupt.com/misc/txeb13-42950.pdf
         Filed as Pro Se

In re L. Jowell
   Bankr. N.D. Tex. Case No. 13-45648
      Chapter 11 Petition filed December 13, 2013

In re Phil Midland
   Bankr. W.D. Va. Case No. 13-62538
      Chapter 11 Petition filed December 13, 2013
In re The Darling House Pub & Grill, LLC
   Bankr. M.D.N.C. Case No. 13-81577
     Chapter 11 Petition filed December 15, 2013
         See http://bankrupt.com/misc/ncmb13-81577.pdf
         represented by: P. Wayne Robbins, Esq.
                         ROBBINS MAY AND RICH, LLP
                         E-mail: pwrobbins@rmrattorneys.com

In re J2 Company, LLC
   Bankr. E.D. Va. Case No. 13-15568
     Chapter 11 Petition filed December 15, 2013
         See http://bankrupt.com/misc/vaeb13-15568.pdf
         represented by: John W. Bevis, Esq.
                         JOHN W. BEVIS, P.C.
                         E-mail: johnbevis@bevislawoffices.com

In re Shaun Sabol
   Bankr. W.D. Wis. Case No. 13-15929
      Chapter 11 Petition filed December 15, 2013
In re March Family Trust (IRT) Dated August 7, 1990
   Bankr. N.D. Cal. Case No. 13-46634
     Chapter 11 Petition filed December 16, 2013
         See http://bankrupt.com/misc/canb13-46634.pdf
         Filed as Pro Se

In re Christopher Duntsch
   Bankr. D. Colo. Case No. 13-30510
      Chapter 11 Petition filed December 16, 2013

In re Florida Suncoast Plastering, Inc.
   Bankr. M.D. Fla. Case No. 13-16407
     Chapter 11 Petition filed December 16, 2013
         See http://bankrupt.com/misc/flmb13-16407.pdf
         represented by: Suzy Tate, Esq.
                         SUZY TATE, P.A.
                         E-mail: suzy@suzytate.com

In re Natalie Nichols
   Bankr. S.D. Fla. Case No. 13-39738
      Chapter 11 Petition filed December 16, 2013

In re Eco-Safe Solutions, Inc.
   Bankr. S.D. Ga. Case No. 13-21371
     Chapter 11 Petition filed December 16, 2013
         See http://bankrupt.com/misc/gasb13-21371.pdf
         represented by: Joelyn W. Pirkle, Esq.
                         JOELYN W. PIRKLE, ATTORNEY AT LAW, LLC
                         E-mail: joelyn_pirkle@yahoo.com

In re Victory Baptist Community of Faith
   Bankr. D. Kans. Case No. 13-13201
     Chapter 11 Petition filed December 16, 2013
         See http://bankrupt.com/misc/ksb13-13201.pdf
         represented by: Nicholas R. Grillot, Esq.
                         REDMOND & NAZAR, LLP
                         E-amail: ngrillot@redmondnazar.com

In re Robert Spenlinhauer
   Bankr. D. Mass. Case No. 13-17191
      Chapter 11 Petition filed December 16, 2013

In re Melville Holdings, LLC
   Bankr. S.D. Miss. Case No. 13-03708
     Chapter 11 Petition filed December 16, 2013
         See http://bankrupt.com/misc/mssb13-03708.pdf
         represented by: Craig M. Geno, Esq.
                         LAW OFFICES OF CRAIG M. GENO, PLLC
                         E-mail: cmgeno@cmgenolaw.com

In re DES-R Antiques, LLC
   Bankr. M.D.N.C. Case No. 13-11636
     Chapter 11 Petition filed December 16, 2013
         See http://bankrupt.com/misc/ncmb13-11636.pdf
         represented by: Phillip E. Bolton, Esq.
                         BOLTON LAW GROUP
                         E-mail: filing@boltlaw.net

In re MJ Newco, Inc.
   Bankr. W.D.N.C. Case No. 13-32615
     Chapter 11 Petition filed December 16, 2013
         See http://bankrupt.com/misc/ncwb13-32615.pdf
         represented by: Geoffrey A. Planer, Esq.
                         E-mail: planerlawfirm@gmail.com

In re Ellen McCracken
   Bankr. D. Ore. Case No. 13-37719
      Chapter 11 Petition filed December 16, 2013

In re Republic of Texas Brands, Inc.
   Bankr. N.D. Tex. Case No. 13-36434
     Chapter 11 Petition filed December 16, 2013
         See http://bankrupt.com/misc/txnb13-36434.pdf
         represented by: Eric A. Liepins, Esq.
                         ERIC A. LIEPINS, P.C.
                         E-mail: eric@ealpc.com

In re Noble
   Bankr. E.D. Wis. Case No. 13-36020
      Chapter 11 Petition filed December 16, 2013



                             *********

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.

A list of Meetings, Conferences and Seminars appears in each
Wednesday's edition of the TCR.  Submissions about insolvency-
related conferences are encouraged.  Send announcements to
conferences@bankrupt.com/

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.

For copies of court documents filed in the District of Delaware,
please contact Vito at Parcels, Inc., at 302-658-9911.  For
bankruptcy documents filed in cases pending outside the District
of Delaware, contact Ken Troubh at Nationwide Research &
Consulting at 207/791-2852.

                           *********

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, Ronald C. Sy, Joel Anthony G. Lopez, Cecil R.
Villacampa, Sheryl Joy P. Olano, Ivy B. Magdadaro, Carlo
Fernandez, Christopher G. Patalinghug, and Peter A. Chapman,
Editors.

Copyright 2013.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $975 for 6 months delivered via
e-mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Peter A.
Chapman at 215-945-7000 or Nina Novak at 202-241-8200.


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