---

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

              Monday, February 9, 2015, Vol. 19, No. 40

                            Headlines

21ST CENTURY ONCOLOGY: Incurs $87 Million Net Loss in Q3
22ND CENTURY: Incurs $15.6 Million Net Loss in 2014
ABERDEEN LAND: Seeks Approval of Global Settlement and Sale
ABERDEEN LAND: Stay Lifted to Allow CDD to Foreclose Property
ADVANZEON SOLUTIONS: Lloyd Miller Reports 7.6% Stake as of Dec. 31

ALEXZA PHARMACEUTICALS: BlackRock Reports 6.7% Stake as of Dec. 31
ALEXZA PHARMACEUTICALS: Morgan Stanley Has 4% Stake as of Dec. 31
ALLONHILL LLC: Amends Schedules of Assets and Liabilities
ALLY FINANCIAL: K. Bacon Joins Board; J. Brown Named CEO
ALTEGRITY INC: Files for Ch. 11 with Plan Deal

AMERICAN AXLE: Sandra Dauch Held 7.2% Stake as of Dec. 31
AMERICAN OPTICAL: Online Bidding or Eyewear Begins on Feb. 12
AMERICAN PATRIOT: Bank Issues 55 Series A Preferred Shares
AMERICAN SEAFOODS: May Default on Some of Massive Debt
ANTARAMIAN PROPERTIES: Owner's Death Postpones Hearing to Feb. 17

ARISTA POWER: Director Greenstein Resigns
ARRAY BIOPHARMA: Incurs $8.6 Million Net Loss in Second Quarter
ARRAY BIOPHARMA: Incurs $8.61-Mil. Net Loss for Fourth Quarter
ATHERTON FINANCIAL: Disbursement Hearing Continued Until March 18
AUXILIUM PHARMACEUTICALS: Amended Schedule TO Filed with SEC

AUXILIUM PHARMACEUTICALS: Deerfield No Longer a Shareholder
B. ENDEAVOR: Cypriot Tanker Owner Seeks Protection in U.S. Court
BATS GLOBAL: S&P Affirms 'BB-' ICR; Outlook Negative
BEAZER HOMES: Credit Suisse Reports 3% Stake at of Feb. 4
BEAZER HOMES: Stockholders Elected 8 Directors

BIG RIVERS: Fitch Affirms 'BB' Rating on $83MM Series 2010A Bonds
BINDER & BINDER: Meeting of Creditors Set for Feb. 24
BRAND ENERGY: Bank Debt Trades at 6% Off
BROADWAY FINANCIAL: Director Javier Leon Quits
CACHE INC: Dimensional Fund No Longer a Shareholder as of Dec. 31

CACHE INC: Lloyd Miller Reports 7.7% Stake as of Dec. 31
CACHE INC: Meeting to Form Creditors' Panel Set for Feb. 12
CAESARS ENTERTAINMENT: Loveman Quits as CEO, to Stay as Chairman
CAFE SERENDIPITY: Partners With mCig Inc.
CAL DIVE: Potential Chapter 11 Filing Looms

CALMARE THERAPEUTICS: Joseph Finley Reports 6% Stake at Dec. 31
CALMENA ENERGY: Chapter 15 Case Summary
CASH STORE: Transaction with National Money Mart Closes
CHINA GINSENG: KCG Americas Reports 9.8% Stake as of Dec. 31
CHINA LOGISTICS: To Sell Tianjin Branch

CLINE MINING: Court Approves Proposed Recapitalization Plan
COLORADO SPRINGS: S&P Revises Outlook & Affirms 'BB' Rating
COMMUNITY ACADEMY: S&P Cuts Rating on 2007 Revenue Bonds to CCC
COMSTOCK MINING: Promotes J. Merrill to Chief Financial Officer
COOPER-STANDARD AUTOMOTIVE: Moody's Affirms B2 Corp. Family Rating

CRUSH REAL ESTATE: Files for Chapter 11 Bankruptcy Protection
CRYOPORT INC: Reports $2 Million Net Loss for Fourth Quarter
D.A.B. GROUP: Files Amended Sale-Based Disclosure Statement
DENDREON CORP: Committee Proposes Epiq as Noticing Agent
DENDREON CORP: Proposes March 16 Gen. Claims Bar Date

DENTEK INC: Case Summary & 8 Largest Unsecured Creditors
DETROIT, MI: Pension Cuts From Bankruptcy Prompt Cries of Betrayal
DETROIT, MI: Wayne County Threatens Bankruptcy Deal
DIXIE FOODS: Posts $4.23-Mil. Net Loss in Nov. 30 Quarter
DOLLAR TREE: Capital Structure Change No Impact on Moody's Ba2 CFR

EAT AT JOE'S: Joseph Fiore Quits as President and CEO
EC OFFSHORE: Petitioners Seek Lawyer to Resurrect Business
EMPIRE RESORTS: Amends Bonus Plan for Senior Executives
ENDEAVOUR INTERNATIONAL: Confirmation Hearing Postponed Sine Die
ENERGY FUTURE: Creditors Object to Proposed Exclusivity Extension

ENERGY TRANSFER: Bank Debt Trades at 5% Off
ERF WIRELESS: Issues 34.9 Million Common Shares
EXIDE TECHNOLOGIES: Court Approves POR Disclosure Statement
EXIDE TECHNOLOGIES: Plan Outline OK'd; Hearing Set for March 27
FINJAN HOLDINGS: Cisco Systems Reports 7.5% Stake as of Dec. 31

FLYING STAR: Accuses Former Executives of Financial Improprieties
FLYING STAR: Files for Chapter 11, To Close Two Stores
FORTESCUE METALS: Bank Debt Trades at 12% Off
FOUNDATION HEALTHCARE: Amends 3 Million Units Prospectus
FREESEAS INC: Sold $500,000 Convertible Note to Himmil

FRONTIER COMMUNICATIONS: Moody's Affirms 'Ba3' Corp. Family Rating
FRONTIER COMMUNICATIONS: S&P Affirms 'BB-' CCR; Outlook Stable
GENCO SHIPPING: Dimensional Stake Down to 0% as of Dec. 31
GENERAL MOTORS: JPMorgan Seeks Review of Loan Ruling
GFI GROUP: S&P Alters Implications on 'B' CCR to Developing

GORDON PROPERTIES: March 3 Hearing on FOA Bid to Consolidate Estate
GREYSTONE LOGISTICS: Int'l Bank of Commerce Waives Default
GROVE ESTATES: Can Use Susquehanna Cash Collateral Until March 1
GTA REALTY: Creditors Have Until March 5 to File Proofs of Claims
GTA REALTY: Plan Outline Hearing Adjourned Until Feb. 25

GTA REALTY: Receiver Taps Wenig Saltiel to Assess Tenancy Rights
GULF GUARANTY: A.M. Best Affirms 'B-(fair)' Finc'l Strength Rating
HAMILTON SUNDSTRAND: Bank Debt Trades at 6% Off
HEALTHWAREHOUSE.COM INC: Todd Hixon No Longer a 5% Shareholder
HERCULES OFFSHORE: Dimensional Fund Reports 6% Stake as of Dec. 31

HOSPIRA INC: Moody's Puts 'Ba1' CFR on Review for Upgrade
HOVNANIAN ENTERPRISES: Ara Hovnanian Holds 61% of Class B Shares
HUSH HOMES: Claims Bar Date Set for February 27
IDERA PHARMACEUTICALS: VP Clinical Development Quits
IMAGEWARE SYSTEMS: Closes $12 Million Preferred Stock Offering

INFINITY ENERGY: Incurs $3.7 Million Net Loss in 2014
INFINITY ENERGY: RBSM LLP Expresses Going Concern Doubt
INSITE VISION: Signs License Agreement with Nicox S.A.
INTERLEUKIN GENETICS: Registers 102.7MM Common Shares for Resale
ISTAR FINANCIAL: Diamond Hill Reports 6.5% Stake as of Dec. 31

IZEA INC: Closes Ebyline Acquisition
JACKSONVILLE BANCORP: RMB Capital Reports 6.2% Stake as of Dec. 31
KEMET CORP: Morgan Stanley Reports 8.3% Stake as of Dec. 31
KIOR INC: Feb. 19 Hearing on Bid for Case Conversion or Dismissal
KU6 MEDIA: Incurs $932,000 Net Loss in Third Quarter

LAKELAND INDUSTRIES: Dimensional Reports 5% Stake as of Dec. 31
LAKELAND INDUSTRIES: Ruihua Acts as Auditors for Chinese Unit
LEVEL 3: Posts $66 Million Net Income for Fourth Quarter
LHP HOSPITAL: S&P Affirms 'B-' CCR & Revises Outlook to Stable
MCCLATCHY CO: Contrarius Held 10% of Class A Shares at Dec. 31

MCCLATCHY CO: Dimensional Fund Holds 6% of Class A Shares
MCCLATCHY CO: Extends Employment of President and CEO
MCIG INC: Files Fourth Amendment to FY Ended April 30 Report
MCIG INC: Files Third Amendment to July 31 Quarter Report
MEG ENERGY: Bank Debt Trades at 5% Off

METALICO INC: Approves Rights Plan
MINERAL PARK: Arizona Attorney General to Defend Mohave County
MONARCH COMMUNITY: EJF Capital Reports 3% Stake as of Dec. 31
MULTIPLAN INC: Bank Debt Trades at 2.12% Off
NAVISTAR INT'L: Franklin Resources Has 18% Stake as of Dec. 31

NAVISTAR INTERNATIONAL: Copy of Presentation at 2015 Analyst Day
NEW LOUISIANA: Affiliates Seek Approval to Auction Assets
NEW LOUISIANA: Feb. 10 Hearing on Bid to Revisit DIP Order
NICHOLS CREEK: Wants Until April 23 to Propose Reorganization Plan
PACIFIC DRILLING: Bank Debt Trades at 23% Off

PEABODY ENERGY: Bank Debt Trades at 16% Off
PENN NATIONAL: Bank Debt Trades at 2% Off
PEREGRINE FINANCIAL: US Bancorp Ordered to Pay $18MM to Customers
PHOTOMEDEX INC: Closes Sale of LCA-Vision for $40 Million
QUANTUM CORP: Posts $6.9 Million Net Income for Third Quarter

RADIOSHACK CORP: Begins Wave of Liquidation Sales
RADIOSHACK CORP: Delisted From NYSE
RADIOSHACK CORP: Hearing on Sale Procedures Set for Feb. 20
RADIOSHACK CORP: Meeting to Form Creditors' Panel Set for Feb. 13
RB ENERGY: Provides Update on Sale & Investor Solicitation Process

REICHHOLD HOLDINGS: To Stop Operations After Sale of Assets
REVEL AC: Appeals Court Ruling Threatens Casino Sale
REVEL AC: Fights ACR Energy's Threat to Cut Off Power at Hotel
RICEBRAN TECHNOLOGIES: Stephen Baksa Had 5.1% Stake as of Dec. 31
RIDGEFIELD CHRISTIAN: Says Ch. 11 Would Beef Up Financial Position

ROADRUNNER ENTERPRISES: Files for Chapter 11 Bankruptcy Protection
ROYALTY PARTNERS: Files for Chapter 11 Bankruptcy Protection
SCIENTIFIC GAMES: Stone House Has 7.9% of Class A Shares
SEEGRID CORP: Exits Chapter 11 Bankruptcy
SEGREST SALTWATER: Files for Chapter 11 Bankruptcy Protection

SEVEN SISTERS: Keith Rehbein Buys Assets for Nearly $3MM
SILVERSUN TECHNOLOGIES: Amends 701,754 Common Shares Prospectus
SKYLINE MANOR: Ensign Group Acquires Two Operations
SKYMALL LLC: ScotteVest Eyeing Assets, Might Rename Service
STATE FISH: Maritime Products Biggest Loser in Co.'s Failure

SUNQUEST PROPERTIES: S&P Lowers Rating on 2005 Bonds to 'BB+'
TARGETED MEDICAL: Paul Pelosi Quits From Board
TECHPRECISION CORP: Somerset Reports 7.8% Stake as of Dec. 31
TELEXFREE LLC: Ch 11 Trustee Says Over $17MM of Assets Recovered
TRANSGENOMIC INC: To Sell $50 Million Worth of Securities

TS EMPLOYMENT: Section 341(a) Meeting Scheduled for March 12
ULTIMATE NUTRITION: Committee Balks at TD's Conversion Bid
ULTIMATE NUTRITION: Gets Final Approval to Use Cash Collateral
UMEWORLD LTD: AWC (CPA) Ltd. Expresses Going Concern Doubt
UNIVAR N.V.: Bank Debt Trades at 3% Off

VERIS GOLD: Obtains Extension of CCAA Stay Period
VERTICAL COMPUTER: Files Report on Continuation Patent
VEYANCE TECHNOLOGIES: S&P Raises Corp. Credit Rating From 'B'
VIGGLE INC: Reports $22.2 Million Net Loss in Second Quarter
VIGGLE INC: Reports $22.23-Mil. Net Loss in Q4

VISUALANT INC: AWM Investment Reports 9% Stake as of Dec. 31
W.R. GRACE: To Separate Into Two Companies
WALL STREET REAL ESTATE: Case Summary & Largest Unsec. Creditors
WASTE INDUSTRIES: S&P Raises CCR to 'BB-'; Outlook Stable
WAYNE COUNTY, MI: Puts 'BB-' LTGO Ratings on Watch Negative

WORLD SURVEILLANCE: Gen. Wayne Jackson Quits From Board
WPCS INTERNATIONAL: Interim CEO to Get $180,000 Base Salary
YPSILANTI SCHOOL: Moody's Affirms Ba3 General Obligation Rating
YRC WORLDWIDE: Posts $6.2 Million Net Income in Fourth Quarter
ZALE CORP: Dimensional No Longer a Shareholder as of Dec. 31

[*] Bankruptcy Filings Drop 10% in January 2015
[*] Chapter 11 Filings Drop 14% in January 2015, Epiq Systems Says
[*] Judge Strikes Down Puerto Rico's Debt Restructuring Law
[*] Orr, Judge Rhodes Named Crain's 2014 Newsmakers of the Year
[*] Six Bankruptcy Filings in W.D. Wash. in December

[*] Swaps Make Restructuring Advisors' Lives Trickier
[^] BOND PRICING: For the Week From Feb. 2 to 6, 2015

                            *********

21ST CENTURY ONCOLOGY: Incurs $87 Million Net Loss in Q3
--------------------------------------------------------
21st Century Oncology Holdings, Inc., filed with the U.S.
Securities and Exchange Commission its quarterly report on Form
10-Q disclosing a net loss attributable to the Company's
shareholders of $87.4 million on $258 million of total revenues for
the three months ended Sept. 30, 2014, compared to a net loss
attributable to the Company's shareholders of $25.4 million on $181
million of total revenues for the same period a year ago.

For the nine months ended Sept. 30, 2014, the Company reported a
net loss attributable to the Company's shareholders of $325 million
on $757 million of total revenues compared to a net loss
attributable to the Company's shareholders of $65.3 million on $533
million of total revenues for the same period during the prior
year.

As of Sept. 30, 2014, the Company had $1.18 billion in total
assets, $1.24 billion in total liabilities, $350 million in series
A convertible redeemable preferred stock and noncontrolling
interests and a $415 million total deficit.

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

                        http://is.gd/IA6Vn2

                         About 21st Century

21st Century Oncology, Inc., formerly known as Radiation Therapy
Services, Inc. ("RTS") owns and operates radiation treatment
facilities in the US and Latin America.

                            *     *     *

As reported by the TCR on Aug. 14, 2014, Moody's Investors Service
downgraded 21st Century Oncology, Inc.'s Corporate Family Rating
to Caa2 from B3 and Probability of Default Rating to Caa2-PD from
B3-PD.  The rating action follows the company's July 29, 2014
announcement that it has entered into a Recapitalization Support
Agreement with Vestar Capital Partners and a group of holders of
its outstanding subordinated notes, under which the company
expects to obtain additional liquidity through an equity
contribution or subordinated debt of at least $150 million on or
before October 1, 2014.

As reported by the TCR on Oc. 1, 2014, Standard & Poor's Ratings
Services raised all of its ratings on 21st Century Oncology
Holdings Inc. by one notch, including the corporate credit rating
to 'B-' from 'CCC+'.  S&P raised the rating because the company
received $325 million of proceeds from a new preferred equity
investment, which increases the company's liquidity.


22ND CENTURY: Incurs $15.6 Million Net Loss in 2014
---------------------------------------------------
22nd Century Group, Inc., filed with the U.S. Securities and
Exchange Commission its annual report on Form 10-K disclosing a net
loss of $15.6 million on $529,000 of revenue for the year ended
Dec. 31, 2014, compared to a net loss of $26.2 million on $7.27
million of revenue during the prior year.

As of Dec. 31, 2014, the Company had $21.9 million in total assets,
$6.73 million in total liabilities and $15.2 million in total
shareholders' equity.

"As of Dec. 31, 2014, we had working capital of approximately $8.0
million, as compared to working capital of approximately $6.8
million at December 31, 2013, an increase of approximately $1.2
million.  The $1.2 million increase in working capital was
primarily the result of net working capital remaining from the net
proceeds of the $9.3 million raised in the September 2014 common
stock private placement after operating and investing activities
during the year ended December 31, 2014," the Company stated in the
filing.

Moving forward, 22nd Century has recast its priorities to
emphasize:

   (i) commercialization of RED SUN super-premium cigarettes in
       the US;

  (ii) launch of MAGIC very low nicotine cigarettes
       internationally;

(iii) establishment of a base of third-party cigarette and
       filtered cigar contract manufacturing business at the
       Company's NASCO manufacturing facility in Mocksville, North
       Carolina;

  (iv) pursuit of FDA authorization for one or more of the
       Company's modified risk cigarettes in development;

   (v) contracting with a suitable joint venture partner to fund
       and conduct a Phase III clinical trial for X-22, the
       Company's tobacco-based smoking cessation aid in
       development; and

  (vi) establishment of substantial multi-year sales contracts for
       the Company's proprietary tobacco leaf and/or finished
       tobacco products internationally (with immediate focus on
       Asia).

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

                        http://is.gd/XZVpAj

                        About 22nd Century

Clarence, New York-based 22nd Century Group, Inc., through its
wholly-owned subsidiary, 22nd Century Ltd, is a plant
biotechnology company using technology that allows for the level
of nicotine and other nicotinic alkaloids (e.g., nornicotine,
anatabine and anabasine) in tobacco plants to be decreased or
increased through genetic engineering and plant breeding.


ABERDEEN LAND: Seeks Approval of Global Settlement and Sale
-----------------------------------------------------------
Aberdeen Land II, LLC, seeks entry of an order approving the global
settlement and compromise in the Master Purchase, Sale and
Settlement Agreement, dated December 19, 2014, among D.R. Horton,
Inc.-Jacksonville, D.R. Horton, Inc., as buyers, Aberdeen Land I,
LLC, CRVII Florida CDD Bonds, LLC, as sellers, BBX Capital Asset
Management, LLC and Aberdeen Lend, LLC.  The Debtors also seek
authority to sell substantially all of its Property to
DHI-Jacksonville free and clear of certain liens, claims and
encumbrances, and dismissing the Chapter 11 case.

The Parties worked diligently to reach a settlement acceptable to
all Parties along the same general concepts previously included in

the Settlement Term Sheet.  As a result of those good faith, arms'

length settlement discussions and subject to the approval of the
Bankruptcy Court, the Parties reached a global settlement and
compromise of all issues between and among them, as evidenced by
that a Master Purchase, Sale and Settlement Agreement, dated
December 19, 2014.

The Global Settlement contained in the Master Agreement provides
for:

     a. the sale of substantially all of the Debtor’s Property to

        DHI-Jacksonville free and clear of certain liens, claims
        and encumbrances – namely the release by Aberdeen Lend of

        that certain mortgage lien in the face amount of
        $3,637,735.98 encumbering portions of the Property and the

        release by BBX of that certain mortgage lien in the face
        amount of $16,857,764.90 encumbering portions of the
        Property, but not free and clear of any other liens,
        claims or encumbrances, including specifically the liens
        of the CDD, the terms of which sale are set forth in more
        detail in that certain Property Purchase and Sale
        Agreement, dated December 19, 2014;

     b. the sale of all of the CDD Bonds held by an affiliate of
        the Debtor to DHI pursuant to the terms of the Bond
        Purchase and Sale Agreement, dated December 19, 2014; and

     c. the dismissal of the Chapter 11 Case as a condition to the

        transactions.

The Master Agreement provides, in pertinent part, for:

     1. the sale of the Debtor’s Property to DHI-Jacksonville
free
        and clear solely of the BBX Lien and the Aberdeen Lien,
        but subject to any and all other liens, claims and
        encumbrances, including the liens in favor of the CDD and
        outstanding real estate taxes, which purchase and sale is
        subject to the specific terms and conditions of the
        Property Purchase Agreement;

     2. the purchase and sale of the Bonds by CRVII to DHI
        pursuant to the specific terms and conditions of the Bond
        Purchase Agreement;

     3. the release of the Aberdeen Lien;

     4. the release of the BBX Lien in exchange for payment of an
        amount equal to $575,000 by the Debtor to BBX at the
        Closing;

     5. the sale by Aberdeen I to DHI-Jacksonville or its assigns
        of any and all right, title and interest of Aberdeen I in
        and to those certain real estate tax certificates in
        respect of portions of the Property in the amounts of
        $25,650.74 (represented by certificate number 309) and
        $7,677.90 (represented by certificate number 130); and

     6. the exchange of mutual general releases by the Parties as
        well as a release between the Debtor and the CDD effective

        automatically at consummation of the Closing.

                      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 $41.2 million in
assets and $31.2 million in liabilities as of the petition date.

No creditors' committee was appointed in the case.

The Debtor filed a motion for voluntary dismissal of its Chapter
11 case on Sept. 3, 2014.

BBX Capital Asset Management, LLC, filed a motion to convert the
case to Chapter 7 liquidation.  BBX said the plan support
agreement has been breached, the confirmation hearing has been
canceled and the Debtor now claimed that it no longer has the
ability to confirm a plan.



ABERDEEN LAND: Stay Lifted to Allow CDD to Foreclose Property
-------------------------------------------------------------
U.S. Bankruptcy Judge Jerry A. Funk has approved Aberdeen Community
Development District and U.S. Bank National Association's request
for relief from automatic stay to allow them to proceed with all of
their in rem rights and remedies, including foreclosing on the
single real estate asset owned by Aberdeen Land II, LLC.

The Debtor's sole significant asset consists of the real property
described as 912 undeveloped single family and multi-family
residential lots in the Aberdeen Development, as well as 28.1-
acres of property zoned for the development of commercial and
retail space.

The CDD was established in connection with the development of the
community in which the Property lies.  The Property is subject to
debt special assessments levied by the CDD for the construction
and development of infrastructure and improvements related to the
Property and surrounding community, as well as operation and
maintenance assessments to fund the CDD's budget.  U.S. Bank
serves as trustee under a trust indenture that governs the bonds
issued by the CDD, which are secured by certain assessments on the
Property levied by the CDD.

CDD has commenced two lawsuits to foreclose the CDD Liens on the
Property.  Foreclosure judgments were entered and foreclosure
sales of the Property were scheduled and were reset several times.
The most recent sale date was July 2, 2013 -- one day after the
Petition Date.  Those sales did not occur due to the automatic
stay, Eric S. Golden, Esq., at Burr & Forman LLP, in Orlando,
Florida -- eric.golden@burr.com -- contends.

After mediation and settlement talks fail, and the fifth
continuance of the confirmation hearing, the Debtor determined
that a settlement cannot be reached and the Debtor filed its
motion for voluntary dismissal of the bankruptcy case.  Hence, the
CDD and U.S. Bank asked the Court to grant relief from automatic
stay to reschedule and proceed with foreclosure sales of the
Property.

                      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.



ADVANZEON SOLUTIONS: Lloyd Miller Reports 7.6% Stake as of Dec. 31
------------------------------------------------------------------
In an amended Schedule 13G filed with the U.S. Securities and
Exchange Commission, Lloyd I. Miller, III, disclosed that as of
Dec. 31, 2014, he beneficially owned 5,162,600 shares of common
stock of Advanzeon Solutions, Inc., representing 7.6 percent of the
shares outstanding.  A copy of the regulatory filing is available
for free at http://is.gd/Ftf66w

                     About Advanzeon Solutions

Tampa, Fla.-based Comprehensive Care Corporation, (n/k/a Advanzeon
Solutions) provides managed care services in the behavioral
health, substance abuse, and psychotropic pharmacy management
fields.

Mayer Hoffman McCann P.C., in Clearwater, Florida, 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 suffered recurring losses from operations and
has not generated sufficient cash flows from operations to fund
its working capital requirements.  This raises substantial doubt
about the Company's ability to continue as a going concern.

Comprehensive Care incurred a net loss attributable to common
stockholders of $6.99 million for the year ended Dec. 31, 2012, as
compared with a net loss attributable to common stockholders of
$14.08 million for the year ended Dec. 31, 2011.

As of June 30, 2013, Comprehensive Care had $3.07 million in total
assets, $28.3 million in total liabilities, and a $25.2 million
stockholders' deficiency.


ALEXZA PHARMACEUTICALS: BlackRock Reports 6.7% Stake as of Dec. 31
------------------------------------------------------------------
BlackRock, Inc., disclosed in a regulatory filing with the U.S.
Securities and Exchange Commission that as of Dec. 31, 2014, it
beneficially owned 1,390,794 shares of common stock of
Alexza Pharmaceuticals Inc. representing 6.7 percent of the shares
outstanding.  A copy of the regulatory filing is available at:

                        http://is.gd/B9DS7g

                           About Alexza

Mountain View, California-based Alexza Pharmaceuticals, Inc., was
incorporated in the state of Delaware on Dec. 19, 2000, as FaxMed,
Inc.  In June 2001, the Company changed its name to Alexza
Corporation and in December 2001 became Alexza Molecular Delivery
Corporation.  In July 2005, the Company changed its name to Alexza
Pharmaceuticals, Inc.

The Company is a pharmaceutical development company focused on the
research, development, and commercialization of novel proprietary
products for the acute treatment of central nervous system
conditions.

Alexza Pharmaceuticals reported a net loss of $39.6 million in
2013, a net loss of $28 million in 2012 and a net loss of
$40.5 million in 2011.

The Company's balance sheet at Sept. 30, 2014, showed $65.8
million in total assets, $115 million in total liabilities and
total stockholders' deficit of $48.8 million.


ALEXZA PHARMACEUTICALS: Morgan Stanley Has 4% Stake as of Dec. 31
-----------------------------------------------------------------
In an amended Schedule 13G filed with the U.S. Securities and
Exchange Commission, Morgan Stanley disclosed that as of Dec. 31,
2014, it beneficially owned 860,845 shares of common stock of
Alexza Pharmaceuticals Inc. representing 4.4 percent of the shares
outstanding.  A copy of the regulatory filing is available at:

                       http://is.gd/pyiuPU

                           About Alexza

Mountain View, California-based Alexza Pharmaceuticals, Inc., was
incorporated in the state of Delaware on Dec. 19, 2000, as FaxMed,
Inc.  In June 2001, the Company changed its name to Alexza
Corporation and in December 2001 became Alexza Molecular Delivery
Corporation.  In July 2005, the Company changed its name to Alexza
Pharmaceuticals, Inc.

The Company is a pharmaceutical development company focused on the
research, development, and commercialization of novel proprietary
products for the acute treatment of central nervous system
conditions.

Alexza Pharmaceuticals reported a net loss of $39.6 million in
2013, a net loss of $28 million in 2012 and a net loss of
$40.5 million in 2011.

The Company's balance sheet at Sept. 30, 2014, showed $65.8
million in total assets, $115 million in total liabilities and
a stockholders' deficit of $48.8 million.


ALLONHILL LLC: Amends Schedules of Assets and Liabilities
---------------------------------------------------------
Allonhill LLC filed a second amended summary of schedules of assets
and liabilities in the U.S. Bankruptcy Court for the District of
Delaware, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property                
  B. Personal Property           $17,573,393
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                                    $4,281
  E. Creditors Holding
     Unsecured Priority
     Claims                                          $105,980
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                       $34,553,051
                                 -----------      -----------
        TOTAL                    $17,573,393      $34,663,313

A full-text copy of the second amended schedules is available for
free at http://is.gd/bBnqkm

                     About Allonhill LLC

Allonhill LLC, a professional services firm based in Denver,
Colorado, that previously provided loan due diligence and credit
risk management services for institutions that invest in, sell,
securitize or service mortgage loans, sought protection under
Chapter 11 of the Bankruptcy Code on March 26, 2014.  The case is
In re Allonhill, LLC, Case No. 14-bk-10663 (Bankr. D. Del.).

The Debtor's General Counsel is HOGAN LOVELLS US LLP.  The Debtor's
Local Counsel is Neil B. Glassman, Esq., Justin R. Alberto, Esq.,
and Evan T. Miller, Esq., at BAYARD, P.A., in Wilmington, Delaware.
Upshot Services LLC serves as the Debtor's Claims and Noticing
Agent.

The Debtor disclosed $19,205,062 in assets and $32,918,294 in
liabilities as of the Chapter 11 filing.

Roberta A. DeAngelis, U.S. Trustee for Region 3, notified the
Bankruptcy Court that she was unable to appoint an official
committee of unsecured creditors in the case of Allonhill, LLC. The
U.S. Trustee explained that there were insufficient response to the
communication/contact for service on the committee.


ALLY FINANCIAL: K. Bacon Joins Board; J. Brown Named CEO
--------------------------------------------------------
Ally Financial Inc. announced that Kenneth J. Bacon has been
appointed to its board of directors, effective Feb. 4, 2015.  Bacon
is also expected to serve on the board's risk and compliance
committee.

"We are pleased to welcome Kenneth to the Ally board at an exciting
time for the company," said Ally Chairman Franklin (Fritz) Hobbs.
"Ally begins 2015 as an independent financial services company with
strong franchises and a focus on our future. Kenneth's leadership
and experience will be a great addition to our board."

Bacon is the co-founder and a partner of RailField Realty Partners,
a real estate asset management and private equity firm based in
Bethesda, MD.  Prior to this, he held a number of leadership
positions at Fannie Mae, most recently as the executive vice
president of the multifamily mortgage business.  He retired from
Fannie Mae in 2012 following a 19-year career.  Bacon also held
executive positions at Resolution Trust Corporation, Morgan Stanley
& Company, Inc., and Kidder Peabody & Co.  He currently serves on
the boards of Comcast Corporation, Forest City Enterprises, Inc.,
and Bentall Kennedy L.P.

                         Management Change

Ally Financial also disclosed that on Feb. 2, 2015, Jeffrey J.
Brown has been named chief executive officer of the Company.
Brown, who most recently served as president and CEO of Ally's
Dealer Financial Services business, has also joined Ally's Board of
Directors.  Brown succeeds Michael A. Carpenter who is retiring as
chief executive and from the Board.

Jeffrey Brown (41) joined Ally in March 2009 and served most
recently as president and CEO of Ally's Dealer Financial Services
business beginning in March 2014.  In that role, he was responsible
for the company's automotive finance, insurance and auto servicing
operations.  He was senior executive vice president of Finance and
Corporate Planning from June 2011 to March 2014, and before that
was Ally's corporate treasurer.

Prior to joining Ally, Brown was the corporate treasurer for Bank
of America, where he had responsibility for the core treasury
functions, including funding and managing interest rate risk. Brown
spent 10 years at Bank of America, beginning his career in finance
and later joining the Balance Sheet Management Division. During his
tenure at Bank of America, he also served as the bank's deputy
treasurer and oversaw balance sheet management and the company's
corporate funding division.  He was also a member of the company's
Asset/Liability Management Committee.

Brown received a bachelor's degree in economics from Clemson
University and an executive master's degree in business from Queens
University in Charlotte.  He serves on the Trevillian Cabinet of
the College of Business and Behavioral Sciences at Clemson
University and chairs the board of advisors for the McColl School
of Business at Queens University of Charlotte.

                        About Ally Financial

Ally Financial Inc., formerly GMAC Inc. -- http://www.ally.com/--
is one of the world's largest automotive financial services
companies.  The Company offers a full suite of automotive
financing products and services in key markets around the world.
Ally's other business units include mortgage operations and
commercial finance, and the company's subsidiary, Ally Bank,
offers online retail banking products.  Ally operates as a bank
holding company.

GMAC obtained a $17 billion bailout from the U.S. government in
exchange for a 56.3 percent stake.  Private equity firm Cerberus
Capital Management LP keeps 14.9 percent, while General Motors Co.
owns 6.7 percent.

                           *     *     *

As reported by the TCR on Dec. 16, 2013, Standard & Poor's Ratings
Services said it raised its issuer credit rating on Ally Financial
Inc. to 'BB' from 'B+'.  "The upgrade reflects the company's
release from potential legal and financial liabilities stemming
from its ownership of ResCap," said Standard & Poor's credit
analyst Tom Connell.

In the April 3, 2014, edition of the TCR, Fitch Ratings has
upgraded Ally Financial Inc.'s long-term Issuer Default Rating
(IDR) and senior unsecured debt rating to 'BB+' from 'BB'.
The rating upgrade reflects increased clarity around Ally's
ownership structure given Ally's recent announcement that it has
launched an initial public offering those shares of its common
stock held by the U.S. Treasury (the Treasury).

As reported by the TCR on July 16, 2014, Moody's Investors Service
affirmed the 'Ba3' corporate family and 'B1' senior unsecured
ratings of Ally Financial, Inc. and revised the outlook for the
ratings to positive from stable.  Moody's affirmed Ally's ratings
and revised its rating outlook to positive based on the company's
progress toward sustained improvements in profitability and
repayment of government assistance received during the financial
crisis.


ALTEGRITY INC: Files for Ch. 11 with Plan Deal
----------------------------------------------
Altegrity, Inc. on Feb. 8 disclosed that it is implementing its
previously disclosed restructuring support agreement ("RSA").
Implementation of the RSA, which is supported by holders of more
than 75 percent of the Company's first lien secured debt and
approximately 95 percent of the Company's second and third lien
secured debt, is expected to significantly deleverage the Company's
balance sheet and improve its capital structure.

In connection with the RSA and the agreed comprehensive financial
restructuring, the Company has voluntarily filed for a
pre-negotiated reorganization under Chapter 11 of the United States
Bankruptcy Code in the United States Bankruptcy Court for the
District of Delaware.  Operations at HireRight and Kroll will
continue without interruption throughout the process.

"With support from the overwhelming majority of our lenders and
certain lenders' contribution of substantial new capital, we are
implementing our previously announced restructuring plan to
strengthen the Company's financial condition, significantly reduce
debt and enhance the Company's liquidity," said Jeffrey Campbell,
Altegrity's President and Chief Financial Officer.  "We believe the
restructuring will result in a sustainable capital structure for
the Company that will allow the Kroll and HireRight businesses to
grow and to create value for our stakeholders.  Once the
restructuring is completed, which we expect to occur expeditiously,
we and our operating companies will be well-positioned for growth
and success.

"HireRight and Kroll are healthy and profitable businesses that
generate significant cash flows. They will conduct business as
usual throughout this process and continue to invest as needed to
advance their respective business objectives.  The leaders of both
businesses remain committed to providing clients with the same
quality services they have come to expect.  We thank our employees
for their continued hard work and dedication, as well as our
clients and vendors for their loyalty and ongoing support."

In conjunction with the filing, certain of the Company's second and
third lien noteholders, including funds managed by Third Avenue
Management, Litespeed Management LLC and Mudrick Capital Management
LP, have committed to provide $90 million in debtor-in-possession
("DIP") financing.  This substantial contribution of new capital
will help to fund the Company's operations and support its
businesses throughout the financial restructuring process.

Altegrity has filed various motions with the Bankruptcy Court to
transition business operations in the ordinary course and ensure
the continuation of normal operations, including requesting
Bankruptcy Court approval to continue honoring employee
obligations, including wages, salaries and health benefits, without
interruption, as well as to continue client programs.  The Company
expects to receive Court approval for these requests promptly.

As previously announced, in January, the Company completed the
sales of both its Factual Data business and the Global Security &
Solutions division of USIS.  Net proceeds from these transactions
approximated $150 million, of which the Company will offer $110
million to pay down existing first lien debt at the conclusion of
the restructuring in accordance with the RSA.  The Company's
financial restructuring and the proceeds from the Company's two
divestitures are expected to reduce the Company's debt by
approximately $700 million, or 40 percent.

Court documents and additional information are available through
Altegrity's claims agent, Prime Clerk, at
https://cases.primeclerk.com/altegrity or (855) 842-4125.

Debevoise & Plimpton LLP is serving as the Company's legal advisor,
AlixPartners LLP is serving as its restructuring advisor and
Evercore LLC is serving as its financial advisor.

Paul, Weiss, Rifkind, Wharton & Garrison, LLP and Houlihan Lokey
are advising the ad hoc group of unaffiliated holders of the
Company's second and third lien debt.  Kirkland & Ellis LLP and
Moelis & Company LLC are advising the ad hoc group of unaffiliated
holders of the Company's first lien debt.

                   About Altegrity Inc.

Altegrity Inc. provides background investigations for the U.S.
government; employment background and mortgage screening for
commercial customers; technology-driven legal services and software
for data management; and investigative, analytic, consulting, due
diligence, and security services.  Altegrity is principally owned
by investment funds affiliated with Providence Equity Partners.
Annual revenues are approximately $1.5 billion.


AMERICAN AXLE: Sandra Dauch Held 7.2% Stake as of Dec. 31
---------------------------------------------------------
In an amended Schedule 13G filed with the U.S. Securities and
Exchange Commission, Sandra J. Dauch disclosed that as of Dec. 31,
2014, she beneficially owned 5,469,917 shares of common stock of
American Axle & Manufacturing Holdings, Inc., representing 7.17
percent of the shares outstanding.  A full-text copy of the
regulatory filing is available for free at http://is.gd/9ODC0f

                        About American Axle

Headquartered in Detroit, Michigan, American Axle & Manufacturing
Holdings Inc. (NYSE: AXL) -- http://www.aam.com/-- manufactures,
engineers, designs and validates driveline and drivetrain systems
and related components and chassis modules for light trucks, sport
utility vehicles, passenger cars, crossover vehicles and
commercial vehicles.

As of Sept. 30, 2014, the Company had $3.22 billion in total
assets, $3.05 billion in total liabilities and $169 million in
stockholders' equity.

                           *     *     *

In September 2012, Moody's Investors Service affirmed the 'B1'
Corporate Family Rating (CFR) and Probability of Default Rating
(PDR) of American Axle.

American Axle carries a 'BB-' corporate credit rating from
Standard & Poor's Ratings Services.  "The 'BB-' corporate credit
rating on American Axle reflects the company's 'weak' business
risk profile and 'aggressive' financial risk profile, which
incorporate substantial exposure to the highly cyclical light-
vehicle market," S&P said, as reported by the TCR on Sept. 6,
2012.

As reported by the TCR on Sept. 1, 2014, Fitch Ratings had
upgraded the Issuer Default Ratings (IDRs) of American Axle &
Manufacturing Holdings, Inc. (AXL) and its American Axle &
Manufacturing, Inc. (AAM) subsidiary to 'BB-' from 'B+'.  The
upgrade of the IDRs for AXL and AAM is supported by the
fundamental improvement in the drivetrain and driveline supplier's
credit profile over the past several years.


AMERICAN OPTICAL: Online Bidding or Eyewear Begins on Feb. 12
-------------------------------------------------------------
Eyewear retailers, wholesalers and other purveyors of luxury
spectacles won't want to miss out on a rare buying opportunity when
Tiger Group's Remarketing Services Division conducts an online
auction of more than 3,000 pairs of one-of-a kind exotic sunglasses
and other eyewear from couture designers Sama and others.
Individuals looking to unleash their inner movie star may also be
interested in this event, which features inventory valued in excess
of $1.6 million.

Carrying retail price tags of up to $35,000, the high-end Sama
specs -- a favorite among entertainers, athletes and even
royalty -- had been carried at retail locations across the country
previously owned by American Optical Services LLC, which filed for
bankruptcy last year.  Exotic eyewear by Cartier and Luxottica --
previously showcased at AOS' luxury boutiques Bellissimo and
MesmerEyes located at Bellagio casino-hotel -- will also be
available for sale.

The select designer shades and other eyewear -- typically priced
beyond the mass market's reach -- will be offered for sale to the
public and the eyewear trade by lots consisting of one or more
pieces.  In addition to Sama-branded eyewear, the inventory
includes such Sama lines as the Loree Rodkin collection and select
sunglasses and eyewear from the Badgley Mischka and the Sahara
collections.  Features include frames constructed of 24- and
18-karat gold, 18-karat white gold, platinum, and sterling silver,
and accented by diamonds, topaz, tourmaline, fine leathers, and
Swarovski crystals.

In addition to the frames from Loree Rodkin, the sale will include
one-of-a-kind, 18-karat gold necklaces by the designer.

"This event is a once-in-a-lifetime opportunity to acquire diverse
inventories of what some consider the world's most exclusive,
finest made, luxury optical frames and sunglasses," said
John Coelho, Senior Vice President of Tiger Remarketing Services.
"For people who aspire to the styles of the likes of Al Pacino,
LeBron James and The Royal Family of Monaco, this auction will
provide a wide range of Sama luxury offerings that are typically
relegated to exclusive retail optical venues."

Online bidding opens February 12 at http://www.SoldTiger.com/and
will close in rapid succession, live auction style, on February 19,
beginning at 10:30 a.m. (PT).

For a full catalog of the items offered and details on how to bid,
go to http://www.SoldTiger.com/

American Optical Services LLC and certain affiliates filed for
Chapter 11 bankruptcy on June 20, 2014 in the Delaware Bankruptcy
Court (case number 1:14-bk-11545).


AMERICAN PATRIOT: Bank Issues 55 Series A Preferred Shares
----------------------------------------------------------
American Patriot Bank, the Tennessee state-chartered bank
subsidiary of American Patriot Financial Group, Inc., issued 55
shares of Fixed Rate Noncumulative Perpetual Preferred Stock,
Series A for a cash purchase price of $55,000 to Complete Financial
Solutions, Inc., according to a regulatory filing with the U.S.
Securities and Exchange Commission.  

The sale of the Series A Preferred Stock on Jan. 30, 2015, was
exempt from the registration requirements of the Securities Act of
1933, as amended pursuant to Section 3(a)(2) of the Securities Act.
Following payment of the purchase price for the shares of Series A
Preferred Stock by CFSI, the promissory note from CFSI in favor of
the Bank in a principal amount of $55,000 was cancelled.

                      About American Patriot

Based in Greenville, Tenn., American Patriot Financial Group, Inc.
is a one-bank holding company formed as a Tennessee corporation to
own the shares of American Patriot Bank.  The Bank is the only
subsidiary of the Corporation.

American Patriot Bank commenced operations as a state chartered
bank on July 9, 2001.  The Bank had total assets of roughly
$118 million at Dec. 31, 2009.  The Bank is not a member of
the Federal Reserve System.

The Bank's customer base consists primarily of small to medium-
sized business retailers, manufacturers, distributors, land
developers, contractors, professionals, service businesses and
local residents.

On Aug. 18, 2010, the Company received from the Federal Deposit
Insurance Corporation, a Supervisory Prompt Corrective Action
Directive, dated August 17, 2010, due to American Patriot Bank's
"significantly undercapitalized" status.  The Directive requires
that the Bank submit an acceptable capital restoration plan on or
before August 31, 2010, providing that, among other things, at a
minimum, the Bank will  restore and maintain its capital to the
level of "adequately capitalized."

In its audit report for the 2011 results, Hazlett, Lewis & Bieter,
PLLC, in Chattanooga, Tennessee, expressed substantial doubt about
the Company's ability to continue as a going concern.  The
independent auditors noted that the Company has incurred
significant losses for the past five years resulting in a retained
deficit of $7.15 million at Dec. 31, 2011.  At Dec. 31, 2011 and
2010, the Company and its subsidiary were significantly
undercapitalized based on regulatory standards and has consented
to an Order to Cease and Desist with its primary federal regulator
that requires, among other provisions, that it achieve regulatory
capital thresholds that are significantly in excess of its current
actual capital levels.  The Company's nonperforming assets have
increased significantly during 2011 and 2010 related primarily to
deterioration in the credit quality of its loans collateralized by
real estate.  The Company, at the holding company level, has a
note payable that was due Feb. 28, 2011, which is now in default.
This note is securitized by 100 percent of the stock of the
subsidiary.

The Company reported a net loss of $1.18 million in 2011, compared
with a net loss of $2.29 million in 2010.

The Company's balance sheet at Sept. 30, 2012, showed $86.3
million in total assets, $85.5 million in total liabilities and
$793,666 in total stockholders' equity.


AMERICAN SEAFOODS: May Default on Some of Massive Debt
------------------------------------------------------
Rami Grunbaum at The Seattle Times reports that American Seafoods
Group may soon default on some of its massive debt as it struggles
with low prices and inadequate cash flow.

The Seattle Times recalls that Standard & Poor's lowered in January
2015 its rating of the Company, saying that unless market
conditions change, "a default or financial restructuring appears
inevitable within six months."  According to the report, the
Company is laboring under more than $900 million in estimated debt,
and has been highly leveraged for at least a decade.  

"It's the worldwide pricing of fish, and it's not in their hands.
That's just making it very difficult for them to meet their
financial covenants, and sustain their current capital structure,"
The Seattle Times quoted S&P credit analyst Chris Johnson as
saying.

The Seattle Times says that the debts were piled up when prices
were strong for the pollock and Pacific hake it catches.  The
report states that the Company's revenue from which to service its
multitiered debt, some of which comes due in 2016, is shrinking as
tilapia and catfish have challenged pollock's role as the dominant
raw material for fish sticks, surimi and other products in recent
years; demand from the important Japanese market has weakened; and
the yen has plunged in value.

The Seattle Times relates that it's unlikely the financial undertow
will pull the Company into Chapter 11 bankruptcy reorganization,
more probable is a "distressed exchange" in which some lenders are
pushed to accept concessions like lower interest or longer
repayment terms.

S&P, according to The Seattle Times, says that if there were a
full-fledged liquidation, the gross value of the Company's assets
is roughly $685 million, which is not enough to pay all the
lenders.

Based on First Avenue near Pike Place Market, American Seafoods
Group owns a fleet of big, blue-and-white catcher-processor ships
that harvests fish.  Its six factory trawlers often fish in the
Bering Sea, where American Seafoods has about 45% of the quota for
at-sea harvesting of pollock; in Seattle they dock at Terminal 91
near Magnolia.  The Company has about 1,000 workers.


ANTARAMIAN PROPERTIES: Owner's Death Postpones Hearing to Feb. 17
-----------------------------------------------------------------
Naples Daily News reports that Judge Caryl Delano continued most of
the motions she was set to consider in the Antaramian Properties
LLC case to Feb. 17, 2015, after the Company's owner, Jack
Antaramian, died on Feb. 2, 2015, from what detectives determined
was a self-inflicted gunshot wound.

According to Naples Daily, a Feb. 6, 2015 hearing was initially
scheduled for Judge Delano to consider a flurry of motions,
including applications to catch up on monies owed to Mr.
Antaramian's attorneys, to hire new attorneys to represent his
interests, and to pay management expenses for the Naples Bay Resort
project.

Judge Delano also extended the deadline for Mr. Antaramian's
representatives to file objections to a competing reorganization
plan proposed by his former partners and other creditors, who
continue to object the one he proposed, Naples Daily relates.

Antaramian Properties, LLC, sought bankruptcy protection (Bankr.
M.D. Fla. Case No. 14-10145) on Aug.
29, 2014.  The case is assigned to Judge Caryl E. Delano.  The
Debtors are represented by David S. Jennis, Esq., at Jennis & Bowen
PL, in Tampa, Florida.


ARISTA POWER: Director Greenstein Resigns
-----------------------------------------
Ira A. Greenstein submitted his resignation as a member of the
Board of Directors of Arista Power, Inc., which resignation was
accepted by the Board on Feb. 2, 2015, according to a regulatory
filing with the U.S. Securities and Exchange Commission.

At the time of his announcement, Mr. Greenstein served as the
Chairman of the Nominating & Corporate Governance Committee of the
Board and the Chairman of the Compensation Committee of the Board.
Mr. Greenstein's decision to resign from the Board was solely due
to personal reasons.

The Board of Directors, pursuant to the Company's By-laws, reduced
the size of the Board from six members to five members, effective
Feb. 2, 2015.

                         About Arista Power

Rochester, N.Y.-based Arista Power, Inc., is a developer,
manufacturer, and supplier of custom-designed power management
systems, renewable energy storage systems, and a supplier and
designer of solar energy systems.

Arista Power reported a net loss of $3.27 million on $2.19 million
of sales for the year ended Dec. 31, 2013, as compared with a net
loss of $3.48 million on $1.99 million of sales for the year ended
Dec. 31, 2012.

The Company's balance sheet at Sept. 30, 2014, showed $2.09
million in total assets, $3.56 million in total liabilities and a
$1.47 million total stockholders' deficit.

EFP Rotenberg, LLP, in Rochester, New York, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2013.  The independent auditors noted
that the Company's recurring losses have resulted in an
accumulated deficit and ongoing operation is dependent upon
improved results from operation and additional financing.  These
conditions raise substantial doubt about its ability to continue
as a going concern.

On Dec. 23, 2014, the Company engaged Zwick & Banyai PLLC as its
independent registered public accounting firm.  EFPR resigned
as the Company's independent registered public accountants.

                         Bankruptcy Warning

"We may also seek additional financing to accelerate our growth.
If we raise additional funds through the issuance of equity or
convertible debt securities, the percentage ownership of the
Company held by existing shareholders will be reduced and our
shareholders may experience significant dilution.  In addition,
new securities may contain rights, preferences or privileges that
are senior to those of our common stock.  If we raise additional
capital by incurring debt, this will result in increased interest
expense.  There can be no assurance that acceptable financing
necessary to further implement our plan of operation can be
obtained on suitable terms, if at all.  Our ability to develop our
business could suffer if we are unable to raise additional funds
on acceptable terms, which would have the effect of limiting our
ability to increase our revenues, develop our products, attain
profitable operations, or even may result in our business filing
for bankruptcy protection or otherwise ending our operations which
could result in a significant or complete loss of your
investment," the Company said in the Annual Report for the year
ended Dec. 31, 2013.


ARRAY BIOPHARMA: Incurs $8.6 Million Net Loss in Second Quarter
---------------------------------------------------------------
Array BioPharma Inc. filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $8.61 million on $26.9 million of total revenue for the three
months ended Dec. 31, 2014, compared to a net loss of $16.4 million
on $14.06 million of total revenue for the same period a year ago.

For the six months ended Dec. 31, 2014, the Company reported a net
loss of $36.2 million on $33.0 million of total revenue compared to
a net loss of $32.08 million on $28.3 million of total revenue for
the same period last year.

As of Dec. 31, 2014, the Company had $164 million in total assets,
$178 million in total liabilities and a $13.9 million total
stockholders' deficit.

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

                        http://is.gd/CTFUcc

                       About Array Biopharma

Boulder, Colo.-based Array BioPharma Inc. is a biopharmaceutical
company focused on the discovery, development and
commercialization of targeted small-molecule drugs to treat
patients afflicted with cancer and inflammatory diseases.  Array
has four core proprietary clinical programs: ARRY-614 for
myelodysplastic syndromes, ARRY-520 for multiple myeloma, ARRY-797
for pain and ARRY-502 for asthma.  In addition, Array has 10
partner-funded clinical programs including two MEK inhibitors in
Phase 2: selumetinib with AstraZeneca and MEK162 with Novartis.

The Company's balance sheet at Sept. 30, 2014, showed $135 million
in total assets, $173 million in total liabilities, and a
stockholders' deficit of $37.6 million.

Array Biopharma incurred a net loss of $85.3 million for the year
ended June 30, 2014, a net loss of $61.9 million for the year ended
June 30, 2013, and a net loss of $23.6 million for the year ended
June 30, 2012.

"If we are unable to generate enough revenue from our existing or
new collaboration and license agreements when needed or to secure
additional sources of funding, it may be necessary to
significantly reduce the current rate of spending through further
reductions in staff and delaying, scaling back, or stopping
certain research and development programs, including more costly
Phase 2 and Phase 3 clinical trials on our wholly-owned or co-
development programs as these programs progress into later stage
development.  Insufficient liquidity may also require us to
relinquish greater rights to product candidates at an earlier
stage of development or on less favorable terms to us and our
stockholders than we would otherwise choose in order to obtain up-
front license fees needed to fund operations.  These events could
prevent us from successfully executing our operating plan and, in
the future, could raise substantial doubt about our ability to
continue as a going concern," according to the quarterly report
for the period ended Sept. 30, 2014.


ARRAY BIOPHARMA: Incurs $8.61-Mil. Net Loss for Fourth Quarter
--------------------------------------------------------------
Array BioPharma Inc. filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q, disclosing a net loss
of $8.61 million on $26.9 million of total revenue for the three
months ended Dec. 31, 2014, compared to a net loss of $16.4 million
on $14.07 million of total revenue for the same period in the prior
year.

The Company's balance sheet at Dec. 31, 2014, showed $164 million
in total assets, $178 million in total liabilities and total
stockholders' deficit of $13.9 million.

If the Company is unable to generate enough revenue from its
existing or new collaboration and license agreements when needed or
to secure additional sources of funding, it may be necessary to
significantly reduce the current rate of spending through further
reductions in staff and delaying, scaling back, or stopping certain
research and development programs, including more costly Phase 2
and Phase 3 clinical trials on the Company's wholly-owned programs
as these programs progress into later stage development.
Insufficient liquidity may also require it to relinquish greater
rights to product candidates at an earlier stage of development or
on less favorable terms to the Company and its stockholders than it
would otherwise choose in order to obtain up-front license fees
needed to fund operations.  These events could prevent the Company
from successfully executing its operating plan and, in the future,
could raise substantial doubt about its ability to continue as a
going concern, according to the regulatory filing.

A copy of the Form 10-Q is available at:
                              
                       http://is.gd/RbC0jL
                          
                      About Array Biopharma

Boulder, Colo.-based Array BioPharma Inc. is a biopharmaceutical
company focused on the discovery, development and
commercialization of targeted small-molecule drugs to treat
patients afflicted with cancer and inflammatory diseases.  Array
has four core proprietary clinical programs: ARRY-614 for
myelodysplastic syndromes, ARRY-520 for multiple myeloma, ARRY-797
for pain and ARRY-502 for asthma.  In addition, Array has 10
partner-funded clinical programs including two MEK inhibitors in
Phase 2: selumetinib with AstraZeneca and MEK162 with Novartis.


ATHERTON FINANCIAL: Disbursement Hearing Continued Until March 18
-----------------------------------------------------------------
The U.S. Bankruptcy Court approved a stipulation to continue status
conference and hearing until March 18, 2015, at 2:00 p.m., to
consider motion for (1) authorization of disbursement of funds to
creditors; and (2) dismissal of bankruptcy case of Atherton
Financial Building, LLC.

In a previous order, a hearing was held was held on Jan. 14, and
the Court granted the motion in part, as:

   1. the Debtor is authorized to distribute funds held by Levene,
Neale, Bender, Yoo & Brill L.L.P., to its creditors, well as the
Office of the United States Trustee and professional fees owing to
LNBYB;

   2. until the time as payment to OUST is made, the OUST is
granted a judgment against the Debtor for $13,325, representing the
unpaid quarterly fees due and owing to the OUST;

   3. the Debtor is authorized to release $50,000 to LNBYB to fund
a retainer for an anticipated bankruptcy case for the Debtor's
affiliate;

   4. the balance of the funds held by LNBYB will be held by LNBYB
and disbursed upon further order of the Court.

                        Dismissal Motion

The Debtor filed its Dismissal Motion after the sale of its
property for $14.3 million closed on Dec. 8, 2014, and all secured
claims and tax claims have been satisfied.  Pursuant to the
Court's
order, the Debtor's counsel is holding over $3.5 million in its
client trust account pending further order of the Court.  After
payment of claims from escrow, the Debtor's remaining claims total
$246,923.  This takes into account: (1) the consensually
agreed-upon amount for Hue & Cry's unsecured claim of $2,430, and
(2) the outstanding balance of $0 currently owed to Travelers
Casualty Insurance Company of America.  The foregoing excludes the
Debtor's counsel's attorneys' fees and costs, which for purposes
of
full disclosure, are estimated to be $25,000 over the $75,000
retainer received.  

                     About Atherton Financial

Atherton Financial Building LLC owned a commercial building
located
at 1906 El Camino Real, Menlo Park, CA 94027.

Atherton Financial filed a Chapter 11 petition (Bankr. C.D. Cal.
Case No. 14-27223) in Los Angeles, on Sept. 9, 2014.  Benjamin
Kirk
signed the petition as managing member of manager of Sunshine
Valley LLC.  The case is assigned to Judge Thomas B. Donovan.  The
Debtor tapped David B Golubchik, Esq., at Levene Neale Bender
Rankin & Brill LLP, in Los Angeles, as counsel.

The Company estimated $10 million to $50 million in assets and
debt.


AUXILIUM PHARMACEUTICALS: Amended Schedule TO Filed with SEC
------------------------------------------------------------
An amended tender offer statement on Schedule TO was filed with the
U.S. Securities and Exchange Commission on Feb. 3, 2015, by
Auxilium Pharmaceuticals, Inc., which relates to the Company's
requirement to repurchase, at the option of holders of the
Company's 1.50% Convertible Senior Notes due 2018, 100% of the
principal amount of the Notes, plus accrued and unpaid interest
thereon to, but excluding March 5, 2015, pursuant to the terms and
conditions of the Fundamental Change Purchase Right Notice, Notice
of Right to Convert and Notice of Entry into Supplemental Indenture
and Offer to Purchase dated Feb. 3, 2015.

Items 1 through 9, and Item 11 of the Schedule TO were amended and
supplemented by replacing each instance of the phrase "surrendered
for conversion and not validly withdrawn" set forth in the Notice
with the phrase "surrendered for conversion."

A full-text copy of the Amendment and Supplement to Fundamental
Change Purchase Right Notice, Notice of Right to Convert and Notice
of Entry Into Supplemental Indenture and Offer to Purchase to
Holders of 1.50% Convertible Senior Notes Due 2018, dated
Feb. 4, 2015, is available at http://is.gd/DLKYZv

                           About Auxilium

Auxilium Pharmaceuticals, Inc. -- http://www.Auxilium.com/-- is a
fully integrated specialty biopharmaceutical company with a focus
on developing and commercializing innovative products for
specialist audiences.  With a broad range of first- and second-
line products across multiple indications, Auxilium is an emerging
leader in the men's healthcare area and has strategically expanded
its product portfolio and pipeline in orthopedics, dermatology and
other therapeutic areas.

Auxilium now has a broad portfolio of 12 approved products.  Among
other products in the U.S., Auxilium markets edex(R) (alprostadil
for injection), an injectable treatment for erectile dysfunction,
Osbon ErecAid(R), the leading device for aiding erectile
dysfunction, STENDRATM (avanafil), an oral erectile dysfunction
therapy, Testim(R) (testosterone gel) for the topical treatment of
hypogonadism, TESTOPEL(R) (testosterone pellets) a long-acting
implantable testosterone replacement therapy, XIAFLEX(R)
(collagenase clostridium histolyticum or CCH) for the treatment of
Peyronie's disease and XIAFLEX for the treatment of Dupuytren's
contracture.

The Company also has programs in Phase 2 clinical development for
the treatment of Frozen Shoulder syndrome and cellulite.

The Company's balance sheet at Sept. 30, 2014, showed $1.14
billion in total assets, $983 million in total liabilities and
total stockholders' equity of $162 million.

                           *     *     *

As reported by the TCR on May 7, 2014, Moody's Investors Service
downgraded the ratings of Auxilium  including the Corporate Family
Rating to 'B3' from 'B2'.  "The downgrade reflects Moody's
expectations that declines in Testim, Auxilium's testosterone gel,
will materially reduce EBITDA in 2014, resulting in negative free
cash flow, a weakening liquidity profile, and extremely high
debt/EBITDA," said Moody's Senior Vice President Michael Levesque.

The TCR reported on Sept. 23, 2014, that Standard & Poor's Ratings
Services raised its corporate credit rating on Auxilium to 'CCC+'
following the announced restructuring program and a $50 million
add-on to its existing first-lien term loan.


AUXILIUM PHARMACEUTICALS: Deerfield No Longer a Shareholder
-----------------------------------------------------------
In an amended Schedule 13G filed with the U.S. Securities and
Exchange Commission, Deerfield Mgmt, L.P., and its affiliates
disclosed that as of Jan. 29, 2015, they no longer owned any shares
of common stock of Auxilium Pharmaceuticals, Inc.  The reporting
persons previously held 6,267,382 or 12.47 percent equity stake as
of June 6, 2014.  A copy of the regulatory filing is available at
http://is.gd/kEJdBs

                           About Auxilium

Auxilium Pharmaceuticals, Inc. -- http://www.Auxilium.com/-- is a
fully integrated specialty biopharmaceutical company with a focus
on developing and commercializing innovative products for
specialist audiences.  With a broad range of first- and second-
line products across multiple indications, Auxilium is an emerging
leader in the men's healthcare area and has strategically expanded
its product portfolio and pipeline in orthopedics, dermatology and
other therapeutic areas.

Auxilium now has a broad portfolio of 12 approved products.  Among
other products in the U.S., Auxilium markets edex(R) (alprostadil
for injection), an injectable treatment for erectile dysfunction,
Osbon ErecAid(R), the leading device for aiding erectile
dysfunction, STENDRATM (avanafil), an oral erectile dysfunction
therapy, Testim(R) (testosterone gel) for the topical treatment of
hypogonadism, TESTOPEL(R) (testosterone pellets) a long-acting
implantable testosterone replacement therapy, XIAFLEX(R)
(collagenase clostridium histolyticum or CCH) for the treatment of
Peyronie's disease and XIAFLEX for the treatment of Dupuytren's
contracture.

The Company also has programs in Phase 2 clinical development for
the treatment of Frozen Shoulder syndrome and cellulite.

The Company's balance sheet at Sept. 30, 2014, showed $1.14
billion in total assets, $983 million in total liabilities and
total stockholders' equity of $162 million.

                           *     *     *

As reported by the TCR on May 7, 2014, Moody's Investors Service
downgraded the ratings of Auxilium  including the Corporate Family
Rating to 'B3' from 'B2'.  "The downgrade reflects Moody's
expectations that declines in Testim, Auxilium's testosterone gel,
will materially reduce EBITDA in 2014, resulting in negative free
cash flow, a weakening liquidity profile, and extremely high
debt/EBITDA," said Moody's Senior Vice President Michael Levesque.

The TCR reported on Sept. 23, 2014, that Standard & Poor's Ratings
Services raised its corporate credit rating on Auxilium to 'CCC+'
following the announced restructuring program and a $50 million
add-on to its existing first-lien term loan.


B. ENDEAVOR: Cypriot Tanker Owner Seeks Protection in U.S. Court
----------------------------------------------------------------
Tom Corrigan, writing for Daily Bankruptcy Review, reported that
Cypriot tanker owner B. Endeavor Shipping Co. filed for Chapter 15
bankruptcy protection to shield itself from creditors while the
company and its affiliates attempt to restructure in the U.K.
According to the report, B. Endeavor filed for Chapter 15 -- the
section of the Bankruptcy Code that deals with international
insolvencies -- at the U.S. Bankruptcy Court in Manhattan on Feb.
3.


BATS GLOBAL: S&P Affirms 'BB-' ICR; Outlook Negative
----------------------------------------------------
Standard & Poor's Ratings Services said it has affirmed its 'BB-'
issuer credit rating on BATS Global Markets Inc., as well as its
'BB-' issue ratings on the company's senior secured first-lien term
loan and revolving credit facility.  At the same time, S&P removed
the ratings from CreditWatch negative, where they were placed on
Jan. 28, 2015.  The outlook on the issuer credit rating is
negative.  In addition, S&P assigned its 'BB-' issue rating on the
company's proposed $250 million senior secured term loan B.

"We affirmed the ratings and removed them from CreditWatch
following our review of BATS' proposed financing of its planned
acquisition of Hotspot FX, an institutional spot foreign exchange
platform," said Standard & Poor's credit analyst Olga Roman.  The
purchase price is $365 million, mostly financed by debt.  The
company is planning to issue a $250 million senior secured term
loan B and amend its existing senior secured term loan B,
increasing its size by $128 million.  This transaction will bring
the company's total debt to $825 million, resulting in a spike in
pro forma leverage to more than 4x as of Dec. 31, 2014.

The negative rating outlook reflects the possibility that S&P could
lower the ratings over the next 12-18 months if the company does
not bring its credit metrics to a level consistent with S&P's
current assessment of a "significant" financial risk profile (debt
to EBITDA of less than 4x and FFO to debt greater than 20%).

S&P would likely lower the rating if the contribution from the
Hotspot acquisition or BATS' trading volumes are lower than
expected, causing earnings to decline and leverage to remain above
4x.  Additionally, S&P could lower the ratings if the company
diverts cash flows from debt reduction to other purposes, such as
dividend distributions, or if BATS pursues another debt-financed
acquisition, causing its leverage to remain above 4x.

S&P is likely to revise the outlook to stable if BATS reduces
leverage to less than 4x and increases FFO to debt to more than 20%
over the next 12-18 months.



BEAZER HOMES: Credit Suisse Reports 3% Stake at of Feb. 4
---------------------------------------------------------
Credit Suisse AG disclosed in an amended regulatory filing with the
U.S. Securities and Exchange Commission that as of Feb. 4, 2014, it
beneficially owned 952,731 shares of common stock of
Beazer Homes USA Inc. representing 3.56 percent of the shares
outstanding.  A copy of the regulatory filing is available for free
at http://is.gd/n9VGic

                        About Beazer Homes

Beazer Homes USA, Inc. (NYSE: BZH) -- http://www.beazer.com/--
headquartered in Atlanta, is one of the country's 10 largest
single-family homebuilders with continuing operations in Arizona,
California, Delaware, Florida, Georgia, Indiana, Maryland, Nevada,
New Jersey, New Mexico, North Carolina, Pennsylvania, South
Carolina, Tennessee, Texas, and Virginia.  Beazer Homes is listed
on the New York Stock Exchange under the ticker symbol "BZH."

As of Dec. 31, 2014, Beazer Homes had $1.98 billion in total
assets, $1.73 billion in total liabilities and $258 million in
total stockholders' equity.

                           *     *     *

Beazer carries a 'B-' issuer credit rating, with "negative"
outlook, from Standard & Poor's.

In January 2013, Moody's Investors Service raised Beazer's
corporate family rating to 'Caa1' from 'Caa2' and probability of
default rating to 'Caa1-PD' from 'Caa2-PD'.  The ratings upgrade
reflects Moody's increasing confidence that Beazer's credit
metrics, buoyed by a strengthening housing market, will gradually
improve for at least the next two years and that the company may be
able to return to a modestly profitable position as early as fiscal
2014.


BEAZER HOMES: Stockholders Elected 8 Directors
----------------------------------------------
Beazer Homes USA, Inc., held its 2015 annual meeting of
stockholders on Feb. 4, 2015, at which the stockholders:

   (a) elected Elizabeth S. Acton, Laurent Alpert, Brian C.
       Beazer, Peter G. Leemputte, Allan P. Merrill, Norma A.
       Provencio, Larry T. Solari and Stephen P. Zelnak, Jr., to
       serve as directors until the next annual meeting of
       stockholders and until their successors are elected and
       qualified;

   (b) ratified the selection of Deloitte & Touche LLP as the
       Company's independent registered public accounting firm for
       the fiscal year ending Sept. 30, 2015; and

   (c) voted for, on a non-binding, advisory basis, the
       compensation paid to the Company's named executive
       officers.

                         About Beazer Homes

Beazer Homes USA, Inc. (NYSE: BZH) -- http://www.beazer.com/--
headquartered in Atlanta, is one of the country's 10 largest
single-family homebuilders with continuing operations in Arizona,
California, Delaware, Florida, Georgia, Indiana, Maryland, Nevada,
New Jersey, New Mexico, North Carolina, Pennsylvania, South
Carolina, Tennessee, Texas, and Virginia.  Beazer Homes is listed
on the New York Stock Exchange under the ticker symbol "BZH."

As of Dec. 31, 2014, Beazer Homes had $1.98 billion in total
assets, $1.73 billion in total liabilities and $258 million in
total stockholders' equity.

                           *     *     *

Beazer carries a 'B-' issuer credit rating, with "negative"
outlook, from Standard & Poor's.

In January 2013, Moody's Investors Service raised Beazer's
corporate family rating to 'Caa1' from 'Caa2' and probability of
default rating to 'Caa1-PD' from 'Caa2-PD'.  The ratings upgrade
reflects Moody's increasing confidence that Beazer's credit
metrics, buoyed by a strengthening housing market, will gradually
improve for at least the next two years and that the company may be
able to return to a modestly profitable position as early as fiscal
2014.


BIG RIVERS: Fitch Affirms 'BB' Rating on $83MM Series 2010A Bonds
-----------------------------------------------------------------
Fitch Ratings has affirmed the following Big Rivers Electric
Corporation's (Big River or BREC) senior secured bonds at 'BB':

-- $83.3 million county of Ohio pollution control revenue bonds
    series 2010A.

The Rating Outlook is revised to Stable from Negative.

SECURITY

The bonds are secured by a mortgage lien on substantially all of
the Big Rivers' owned tangible assets, which include the revenue
generated from the wholesale sale or transmission of electricity.

KEY RATING DRIVERS

OUTLOOK REVISED TO STABLE: The Outlook revision largely reflects
the positive effects of Big Rivers' mitigation plan, which was
implemented following the termination of power supply contracts by
Alcan and Century Aluminum (approximately 65% of the cooperative's
revenues). Plan-driven cost reductions, idling of plants, rate
increases, off-system sales and use of reserve funds have improved
financial viability.

INCREASED RELIANCE ON WHOLESALE MARKETS: While termination of the
smelter contracts eliminates exposure to the vagaries of
commodity-based products, it leaves BREC with a significant amount
of surplus power for sale, both on a contract basis and in the spot
market. BREC has found some success with contractual sales to other
utilities and sales into Midcontinent ISO (MISO), and it continues
to seek other sales opportunities.

RATE RELIEF POSITIVE: Big Rivers and its three members' electric
rates are regulated by the Kentucky Public Service Commission
(KPSC). Recently approved rate increases and broadly supportive
regulation by the KPSC, along with utility initiatives, should
allow BREC to achieve satisfactory financial performance. No
further rate increases are currently planned.

SUFFICIENT LIQUIDITY: Unrestricted cash and cash equivalents
equaled $95.7 million at year end 2013 and are expected to remain
around $100 million. Restricted reserves, totaling about $78
million as of Oct. 31, 2014, should be used over the next couple of
years to offset the impact of higher electric rates. Additional
liquidity is provided by a recently approved $130 million senior
secured credit agreement with National Rural Utilities Cooperative
Finance Corporation (CFC) and other lenders.

RATING SENSITIVITIES

CONTINUED SUCCESSFUL IMPLEMENTATION OF MITIGATION PLAN: Continued
positive implementation of the mitigation plan, which reduces over
reliance on short-term energy sales and provides long-term
financial stability, could result in a rating upgrade.

INADEQUATE REGULATORY SUPPORT: Insufficient or untimely support by
the KPSC would be viewed unfavorably.

CREDIT PROFILE

Big Rivers, a generation and transmission cooperative (G&T),
provides all-requirements wholesale electric and transmission
service to three electric distribution cooperatives pursuant to
contracts through Dec. 31, 2043. The distribution members provide
service to a total of about 114,000 retail customers located in 22
western Kentucky counties. Senior staff has experienced some recent
changes, but appear to be well versed in cooperative and utility
matters.

Capacity and energy is provided to the members through a
combination of five owned generation stations, one leased plant and
purchased power. Net capacity of owned generation equals 1,444
megawatts (MW). BREC became a member of MISO in December 2010 and
is a member/owner of ACES.

In August 2012, Century issued a notice to terminate its power
contract with Big Rivers and stated its intent to close its
Hawesville, KY smelter. In January 2013, Alcan delivered notice to
Big Rivers of its decision to terminate its power supply agreement
and its plan to cease smelting operations at its Sebree plant at
the end of the one-year notice period. In June 2013, Century
acquired the Sebree smelter from Alcan.

MITIGTION PLAN EFFECTUATED

With the pending termination of the smelter agreements, Big Rivers
moved forward with a formal load concentration analysis and
mitigation plan. Part of the mitigation plan assumed that certain
generating units would remain idle when market prices did not
support the cost of generating. Big Rivers' revenue requirements in
its rate cases assumed that both Coleman Station and Wilson Station
would be idled once the smelters are no longer served.

The G&T cooperative continues to evaluate forward bilateral sales
agreements, wholesale power contracts and capacity market
participation, in light of the 850MW loss of load to the smelters.
The cooperative has sold capacity and energy forward from the
Wilson Station under multiple agreements through mid-2016 and it
has contracted with a Nebraska consortium to sell 67MW of power
beginning in 2018 and 2019. BREC and its members have established
an economic development incentive rate that is being offered to new
and existing businesses.

Big Rivers has also paid off debt, implemented cost-cutting
measures, deferred certain maintenance (now caught up),
renegotiated fuel contracts, improved heat rate performance and
reduced employee benefits to mitigate the effect on customer rates.
The G&T sought and received two rate adjustments to address revenue
shortfalls caused by the smelter contract terminations and believes
the rate increases will be sufficient to allow the cooperative to
viably operate without replacement load, should that become
necessary.

RESERVES HELP MITIGATE RATE INCREASES

BREC's wholesale and member system electric rates have historically
been competitive. In 2009, supported by the KPSC, a plan was put in
place where reserve funds were established to benefit Big Rivers
members' future rates. These funds are restricted funds and are
expected to be used to fully offset the second of the rate
increases, through mid-2015 for commercial and industrial customers
and mid-2016 for residential customers. As of Oct. 31, 2014, there
were $77.4 million in designated reserves which are intended to be
drawn down to offset planned rate increases. After 2016, Big
Rivers' restricted reserves will be limited to transmission
revenues received from the Hawesville smelter.

GREATER CLARITY OF FINANCIAL PERFORMANCE

Big Rivers' financial results and ratios have been negatively
impacted by a number of unusual events in recent years, which have
made it more difficult to assess the cooperative's intrinsic
financial health. Fitch calculated debt service coverage (DSC) was
well below 1x in calendar 2012 and 2013, reflecting these items.
Beginning in 2016, when deferred revenues are fully utilized and
the amount of future non-member revenues and profits become
clearer, a truer picture of sustained bottom-line performance
should be provided.

Big Rivers' financial forecast (based on continued operation of
Wilson Station with replacement sales), for the period 2014 to 2020
assumes total annual operating revenues of around $490 million and
net margins (approximating $20 million) sufficient to produce a
times interest earned ratio (TIER) ranging between 1.38x to 1.73x
and DSC in the area of 1.50x. Financial performance of the three
distribution systems is currently satisfactory.



BINDER & BINDER: Meeting of Creditors Set for Feb. 24
-----------------------------------------------------
The meeting of creditors of Binder & Binder is set to be held on
Feb. 24, at 2:30 p.m. (prevailing Eastern Time), according to a
filing with the U.S. Bankruptcy Court for the Southern District of
New York.

The meeting will be held at the Bankruptcy Court, 300 Quarropas
Street, in White Plains, New York.

The court overseeing the bankruptcy case of a company schedules the
meeting of creditors usually about 30 days after the bankruptcy
petition is filed.  The meeting is called the "341 meeting" after
the section of the Bankruptcy Code that requires it.

A representative of the company is required to appear at the
meeting and answer questions under oath.  The meeting is presided
over by the U.S. trustee, the Justice Department's bankruptcy
watchdog.

                     About Binder & Binder

Founded in 1979 by brothers Harry and Charles Binder, Binder &
Binder is the nation's largest provider of social security
disability and veterans' benefits advocacy services, with operating
scale and efficiencies unrivaled by its competitors in the highly
fragmented advocacy market.  The company has more than 950
employees in 35 offices across the United States.  In 2010, H.I.G.
Capital, LLC acquired a controlling equity interest in the
company.

Binder & Binder - The National Social Security Disability Advocates
(NY), LLC, et al., sought Chapter 11 bankruptcy protection (Bankr.
S.D.N.Y. Lead Case No. 14-23728) in White Plains, New York on Dec.
18, 2014.  The cases are assigned to Judge Robert D. Drain.

The Debtors have tapped Kenneth A. Rosen, Cassandra Porter, Esq.,
and Nicholas B. Vislocky, Esq., at Lowenstein Sandler as counsel.
The Debtors have engaged Development Specialists, Inc., as
financial advisor, and BMC Group Inc. as claims and notice agent.

The U.S. Trustee has appointed five members to the Official
Committee of Unsecured Creditors.


BRAND ENERGY: Bank Debt Trades at 6% Off
----------------------------------------
Participations in a syndicated loan under which Brand Energy &
Infrastructure Services is a borrower traded in the secondary
market at 94.75 cents-on-the- dollar during the week ended Friday,
Feb. 6, 2015, according to data compiled by LSTA/Thomson Reuters
MTM Pricing and reported in The Wall Street Journal.  This
represents an increase of 0.53 percentage points from the previous
week, The Journal relates.  Brand Energy pays 375 basis points
above LIBOR to borrow under the facility.  The bank loan matures on
Nov. 12, 2020, and carries Moody's B1 rating and Standard & Poor's
B rating.  The loan is one of the biggest gainers and losers among
197 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended Friday.


BROADWAY FINANCIAL: Director Javier Leon Quits
----------------------------------------------
Mr. Javier Leon tendered his resignation, effective Feb. 1, 2015,
from the Boards of Directors of Broadway Financial Corporation and
its subsidiary Broadway Federal Bank.  According to a regulatory
filing with the U.S. Securities and Exchange Commission, the
resignation was not the result of any disagreement with the Company
on any matter relating to the Company's operations, policies or
practices.

                      About Broadway Financial

Los Angeles, Calif.-based Broadway Financial Corporation was
incorporated under Delaware law in 1995 for the purpose of
acquiring and holding all of the outstanding capital stock of
Broadway Federal Savings and Loan Association as part of the
Bank's conversion from a federally chartered mutual savings
association to a federally chartered stock savings bank.  In
connection with the conversion, the Bank's name was changed to
Broadway Federal Bank, f.s.b.  The conversion was completed, and
the Bank became a wholly owned subsidiary of the Company, in
January 1996.

The Company is regulated by the Board of Governors of the Federal
Reserve System.  The Bank is regulated by the Office of the
Comptroller of the Currency and the Federal Deposit Insurance
Corporation.

Broadway Financial reported a loss allocable to common
stockholders of $1.08 million in 2013, a loss allocable to common
stockholders of $693,000 in 2012 and a net loss available to
common shareholders of $15.4 million in 2011.


CACHE INC: Dimensional Fund No Longer a Shareholder as of Dec. 31
-----------------------------------------------------------------
In an amended regulatory filing with the U.S. Securities and
Exchange Commission, Dimensional Fund Advisors LP reported that as
of Dec. 31, 2014, it ceased to beneficially own any shares of
common stock of Cache Inc.  A copy of the regulatory filing is
available for free at http://is.gd/JQOGaL

                          About CACHE Inc.

Cache, Inc., operates 236 women's apparel specialty stores under
the trade name "Cache."  On Dec. 4, 2014, New York-based Cache
announced that it has received an inquiry from a third party
regarding a potential sale of the Company.

Cache, Inc., and two of its affiliates filed Chapter 11 bankruptcy
petitions (D. Del. Lead Case No. 15-10172) on Feb. 4, 2015.
The petitions were signed by Mark Renzi as chief restructuring
officer.  Judge Mary F. Walrath presides over the cases.

Pachulski Stang Ziehl & Jones LLP serves as the Debtors' counsel.
FTI Consulting Inc. represents the Debtors as restructuring
advisors.  Thompson Hine serves as corporate and securities counsel
to the Debtors.  Jackson Lewis P.C. is the Debtors' employment law
counsel.  Janney Montgomery Scott LLC acts as the Debtors'
investment banker and financial advisor.  Epiq Systems provides
communications services to the Debtors.  Kurtzman Carson
Consultants serves as the noticing, and claims management services
provider.  A&G Realty Partners, LLC, acts as the Debtors' real
estate consultant.


CACHE INC: Lloyd Miller Reports 7.7% Stake as of Dec. 31
--------------------------------------------------------
In an amended Schedule 13G filed with the U.S. Securities and
Exchange Commission, Lloyd I. Miller, III, disclosed that as of
Dec. 31, 2014, he beneficially owned 2,394,078 shares of common
stock of Cache, Inc., representing 7.7 percent of the shares
outstanding.

Due to a clerical error, Mr. Miller inadvertently stated on the
Schedule 13G filed on Oct. 27, 2014, that he held 1,554,898 shares
of the Issuer, when the total number of reported shares should have
been 1,554,998.  Since the 13G was filed, there have been changes
to the beneficial ownership of the shares held by Mr. Miller which
requires the filing of the calendar year end amendment.

A full-text copy of the regulatory filing is available at:

                      http://is.gd/Ex8cCx

                        About CACHE Inc.

Cache, Inc., operates 236 women's apparel specialty stores under
the trade name "Cache."  On Dec. 4, 2014, New York-based Cache
announced that it has received an inquiry from a third party
regarding a potential sale of the Company.

Cache, Inc., and two of its affiliates filed Chapter 11 bankruptcy
petitions (D. Del. Lead Case No. 15-10172) on Feb. 4, 2015.
The petitions were signed by Mark Renzi as chief restructuring
officer.  Judge Mary F. Walrath presides over the cases.

Pachulski Stang Ziehl & Jones LLP serves as the Debtors' counsel.
FTI Consulting Inc. represents the Debtors as restructuring
advisors.  Thompson Hine serves as corporate and securities counsel
to the Debtors.  Jackson Lewis P.C. is the Debtors' employment law
counsel.  Janney Montgomery Scott LLC acts as the Debtors'
investment banker and financial advisor.  Epiq Systems provides
communications services to the Debtors.  Kurtzman Carson
Consultants serves as the noticing, and claims management services
provider.  A&G Realty Partners, LLC, acts as the Debtors' real
estate consultant.


CACHE INC: Meeting to Form Creditors' Panel Set for Feb. 12
-----------------------------------------------------------
Andy Vara, Acting United States Trustee for Region 3, will hold an
organizational meeting on Feb. 12, 2015, at 10:00 a.m. in the
bankruptcy case of CACHE, Inc.

The meeting will be held at:

         J. Caleb Boggs Federal Building
         844 King St., Room 5209
         Wilmington, DE 19801

The sole purpose of the meeting will be to form a committee or
committees of unsecured creditors in the Debtors' case.

The organizational meeting is not the meeting of creditors pursuant
to Section 341 of the Bankruptcy Code.  A representative of the
Debtor, however, may attend the Organizational Meeting, and provide
background information regarding the bankruptcy cases.

To increase participation in the Chapter 11 proceeding, Section
1102 of the Bankruptcy Code requires that the United States Trustee
appoint a committee of unsecured creditors as soon as practicable.
The Committee ordinarily consists of the persons, willing to serve,
that hold the seven largest unsecured claims against the debtor of
the kinds represented on the committee.

Section 1103 of the Bankruptcy Code provides that the Committee may
consult with the debtor, investigate the debtor and its business
operations and participate in the formulation of a plan of
reorganization.  The Committee may also perform other services as
are in the interests of the unsecured creditors whom it
represents.

                       About CACHE, Inc.

As reported in the Troubled Company Reporter on Feb. 6, 2015,
CACHE, Inc., a national omni-channel specialty retailer of women's
apparel and accessories, on Feb. 4 disclosed that it has filed
voluntary petitions for relief under Chapter 11 of the United
States Bankruptcy Code in the Bankruptcy Court for the district of
Delaware in Wilmington.  The Company intends to continue to operate
its business in the ordinary course during this time.



CAESARS ENTERTAINMENT: Loveman Quits as CEO, to Stay as Chairman
----------------------------------------------------------------
Gary Loveman resigned as president and chief executive officer of
Caesars Entertainment Corporation effective July 1, 2015.  Loveman
will continue to serve as Chairman of Caesars Entertainment and of
Caesars Entertainment Operating Company.  As Chairman, Loveman will
continue to oversee the restructuring of CEOC.

On Feb. 4, 2015, CEC's Board of Directors appointed Mark Frissora
to the role of chief executive officer designate of CEC, effective
Feb. 5, 2015, and to succeed Mr. Loveman in the role of CEO and
president of CEC, effective July 1, 2015.

During the transition period, Frissora will work with Loveman and
the Board to familiarize himself with Caesars' operations and
leadership team and go through the regulatory licensing process.
Frissora brings to Caesars a track record of operating, growing and
creating value at complex and highly leveraged companies, including
Hertz Global Holdings, Inc., and Tenneco, Inc. His appointment is
subject to regulatory approval.

Mr. Frissora's term of the agreement is four years beginning on
Feb. 5, 2015, and automatically renews for successive one-year
terms thereafter, absent 60 days' notice by CEC or Mr. Frissora not
to renew.  Mr. Frissora's annual base salary will be $1,800,000,
and he will participate in CEC's annual incentive bonus programs
with a target of 150% of his base salary.

"After 12 years as CEO, Caesars has accomplished more than what we
could have imagined when I arrived in 1998.  Now, with the company
in the midst of a formal restructuring of one of its subsidiaries
and a merger between entities, the time is ripe for a transition,"
Loveman said.  "It has been an honor to be the Chairman and CEO of
Caesars Entertainment.  My decision to begin to transition
management now comes with the confidence that we have taken the
steps necessary to ensure the company's long-term success.  I am
confident that the efforts underway to address the capital
structure of CEOC and the announced merger of Caesars Acquisition
Corporation and Caesars Entertainment will position Caesars for
growth and prosperity for many years to come.  I look forward to
working with Mark, the Board of Directors and the Senior Management
Team to effect a seamless transition."

While Chairman and CEO of Hertz, Frissora expanded the company
from a single-brand, airport rental car company to a global
organization with four retail brands and more than 3,000
off-airport locations in addition to its leading airport business.
He also led Hertz's expansion into fleet leasing through the
acquisition of Donlen, Inc.  Under Frissora's leadership, Hertz
acquired Dollar Thrifty, consolidating the rental car industry. The
company's shareholder value increased significantly in this period
and its private equity owners realized a return of more than 230%
when they exited in May 2013.

Hertz also created the rental-car industry's leading sustainability
program and dramatically improved customer and employee
satisfaction during Frissora's tenure.  Under Frissora's
leadership, Hertz was the recipient of numerous customer service
awards, including repeated best rental car company awards from
Zagat, Travel + Leisure, FlyerTalk and Executive Travel, among
others.

"Mark has a long history of driving growth, optimizing operations
and creating shareholder value," Bonderman and Rowan said on behalf
of the Board.  "We are confident that his efforts combined with the
restructuring of CEOC will help create long-term shareholder value
at Caesars."

"I am thrilled to be joining Caesars at such an important time for
the company," Frissora said.  "Caesars' network and range of
offerings and amenities make it a true leader in gaming,
entertainment and hospitality.  I am looking forward to working
closely with Gary, the Board and the leadership team to ensure a
smooth transition."

Additional information is available for free at:

                       http://is.gd/rX3MaI

                          Loveman Tired

Citing Caesars spokesperson Gary Thompson, The Associated Press
recalls that Mr. Loveman first suggested leaving last summer,
saying he was getting tired, and he broached the possibility with
the Company's board of directors.

According to the Company's statement, Mr. Loveman said he would
still supervise the restructuring of Caesars Entertainment
Operating Co.

William J. Rochelle III at Bloomberg News relates that Caesars
Entertainment Operating asked the Chicago Judge A. Benjamin Goldgar
to suspend an involuntary bankruptcy petition filed by junior
creditors in Delaware, which would bury the issue of whether the
reorganization started on Jan. 12, 2015, or three days later.
Delaware Judge Kevin Gross avoided picking a start date for the
bankruptcy.  Bloomberg News relates that Caesars scheduled a Feb.
11, 2015 hearing for Judge Goldgar to decide whether to suspend the
case.

                   About Caesars Entertainment

Caesars Entertainment Corp., formerly Harrah's Entertainment Inc.
-- http://www.caesars.com/-- is one of the world's largest casino


companies.  Caesars casino resorts operate under the Caesars,
Bally's, Flamingo, Grand Casinos, Hilton and Paris brand names.
The Company has its corporate headquarters in Las Vegas.  Harrah's
announced its re-branding to Caesar's in mid-November 2010.  

Caesars Entertainment reported a net loss of $2.93 billion in
2013, as compared with a net loss of $1.50 billion in 2012.  The
Company's balance sheet at Sept. 30, 2014, showed $24.5 billion in
total assets, $28.2 billion in total liabilities and a $3.71
billion total deficit.

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

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

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

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



CAFE SERENDIPITY: Partners With mCig Inc.
-----------------------------------------
Cafe Serendipity Holdings, Inc., has entered into a strategic
partnership agreement with mCig Inc., whereby each party will
receive securities of equal value in the other entity upon closed
agreement.  

mCig, Inc., is a publicly-held technology company focused on the
legal medical marijuana and recreational cannabis markets, and
owns, manufactures, and distributes the mCig, VitaCig, and
Vapolution products.  Cafe Serendipity believes that partnering
with mCig, Inc., will be mutually beneficial to both companies
through the doubling of branding and product awareness efforts.

"Cafe Serendipity is excited to be participating with mCig.  Their
unique product lines are a perfect marriage with our branded
licensed network and will be integral as we build out our
distribution channels.  We believe that by partnering with mCig, we
will be able to synergize our brands and help one another to remain
leaders in this quickly expanding market," explained Bob McNulty
Chairman of Cafe Serendipity.

mCig, Inc., CEO Paul Rosenberg stated that, "With this new
agreement, mCig is moving very quickly to expand its footprint
across all major marijuana-friendly states.  We are delighted to be
working with Café Serendipity and participate in the build out of
their exciting brand.  This presents a fantastic opportunity for
mCig to distribute our growing product line via Cafe' Serendipity's
network and allows us to have a continued interest in the growth of
this dynamic young company."

                        Securities Agreement

On Feb. 3, 2015, Cafe Serendipity executed an agreement for the
exchange of securities with mCig.
  
The Securities Agreement provides, among other things, that (i) the
Company will issue 10,000,000 restricted shares of the Company's
common stock to mCig, (ii) mCig will issue 3,000,000 restricted
shares of mCig's Common stock to the Company, subject to
satisfaction of certain conditions, including but not limited to,
confirmation of the filing of Form 10 or a Registration Statement
on Form S-1 by the Company such that the Company becomes a
reporting company on equal status with mCig and appointment of a
designee of mCig to the Board of Directors of the Company.  If the
Agreement conditions are not satisfied or waived on or before
Dec. 31, 2015, the obligations of the parties will terminate.

On Feb. 3, 2015, the Company executed a Product Distribution
Agreement with mCig.

In accordance with the Distribution Agreement, the Company will buy
mCig products and can buy VitaCig, Inc. (a controlled entity of
mCig) products, pursuant to the terms and conditions of the
Distribution Agreement, including but not limited to, receiving
60 percent of the products carried in the Company branded stores
and the right of first refusal to receive needed products in the
Company's branded stores.  The Distribution Agreement can be
terminated by either party with notice except that the Company
cannot terminate the Distribution Agreement for the initial 15
months.

                  About Cafe Serendipity Holdings

Based in Henderson, Nevada, Force Fuels Inc., now known as Cafe
Serendipity Holdings, Inc., owns and operates Cafe Serendipity
Inc., a builder of upscale branded turnkey retail stores, financial
solutions, technology and science to the recreational and medical
marijuana industry.  The company plans to market a unique branded
product line of accessories, apparel, coffee and teas, bakery and
other edibles, lotions, marijuana and oils through a coast to coast
franchise and dealer network to the recreational and the
approximately 6,000 existing legal medical marijuana dispensaries
in the USA.

Force Fuels' balance sheet at Oct. 31, 2011, showed $1.06 million
in total assets, $1.42 million in total liabilities, and a
stockholders' deficit of $358,092.

As reported in the TCR on Dec. 6, 2011, Sadler, Gibb & Associates,
LLC, in Salt Lake City, Utah, expressed substantial doubt about
Force Fuels' ability to continue as a going concern, following the
Company's results for the fiscal year ended July 31, 2011.  The
independent auditors noted that the Company had accumulated losses
of $3.8 million as of July 31, 2011.

The Company had notified the SEC regarding the late filing of its
quarterly report on Form 10-Q for the period ended Jan. 31, 2012,
citing limited accounting staff and incomplete financial
statements.  The Company has not filed any financial report since
the filing of its quarterly report for the period ended Oct. 31,
2011.


CAL DIVE: Potential Chapter 11 Filing Looms
-------------------------------------------
Cal Dive International, Inc., has garnered examination from
investors, as the unknown future of oil has caused global oil
benchmarks to fall nearly 60$ in the past seven months.  The
Company has been struggling to maintain its relevance as management
attempts to prioritize their financial structure.  

In recent times, Cal Dive has faced being delisted on the NYSE on
Sept. 8, 2014, to declining to pay $2.2 million in interest due
Jan. 15, 2015.  This has led Cal Dive to examine a potential
Chapter 11 bankruptcy filing, hinging on the Company's ability to
scale back operations and raise capital.

A more in-depth look at the Company with an analyst brief and
recommendation can be viewed at
http://bit.ly/-CDVI—AnalystReport, with no cost obligation.

               About Cal Dive International, Inc.

Cal Dive International, Inc., headquartered in Houston, Texas, is a
marine contractor that provides manned diving, pipelay and pipe
burial, platform installation and salvage, and light well
intervention services to the offshore oil and natural gas industry
on the Gulf of Mexico OCS, Northeastern U.S., Latin America,
Southeast Asia, China, Australia, West Africa, the Middle East, and
Europe, with a diversified fleet of dive support vessels and
construction barges.


CALMARE THERAPEUTICS: Joseph Finley Reports 6% Stake at Dec. 31
---------------------------------------------------------------
Joseph M. Finley disclosed in an amended Schedule 13G filed with
the U.S. Securities and Exchange Commission that as of Dec. 31,
2014, he beneficially owned 1,621,153 shares of common stock of
Calmare Therapeutics Incorporated representing 6.16 percent of the
shares outstanding.  A copy of the regulatory filing is available
for free at http://is.gd/Gtshz3

                     About Calmare Therapeutics

Calmare Therapeutics Incorporated, formerly known as Competitive
Technologies, Inc., provides distribution, patent and technology
transfer, sales and licensing services focused on the needs of its
customers and matching those requirements with commercially viable
product or technology solutions.  Sales of the Company's
Calmare(R) pain therapy medical device continue to be the major
source of revenue for the Company.

On Aug. 20, 2014, Competitive Technologies, Inc. changed its name
to Calmare Therapeutics Incorporated.

Competitive Technologies incurred a net loss of $3 million on
$546,000 of gross profit from product sales in 2012, as compared
with a net loss of $3.59 million on $1.86 million of gross profit
from product sales in 2011.

As of Sept. 30, 2014, the Company had $4.53 million in total
assets, $11.8 million in total liabilities and a $7.25 million
total shareholders' deficit.

Mayer Hoffman McCann CPAs (The New York Practice of Mayer Hoffman
McCann P.C.), in New York, issued a "going concern" qualification
on the consolidated financial statements for the year ended
Dec. 31, 2012.  The independent auditors noted that at Dec. 31,
2012, the Company has incurred operating losses since fiscal year
2006.


CALMENA ENERGY: Chapter 15 Case Summary
---------------------------------------
Foreign Representative: Ernst & Young Inc.

Chapter 15 Debtors:
   
       Name                                    Case No.
     --------                                  --------
     Calmena Energy Services Inc.              15-30786
     1200, 1122 4th Street SW
     Calgary, AB T2R 1M1

     Calmena Energy Services (USA) Corp.       15-30787
     CT Corporation
     1209 Orange Street
     Wilmington, DE 19801

     Calmena Drilling Services LLC             15-30789
        fka Pan American Drilling Services LLC
     12066 FM 3083
     Conroe, TX 77301

     Calmena Drilling Services US LP           15-30790
        fka PanAm Drilling Servcies LTD.
     12066 FM 3083 RD
     Conroe, TX 77301

Chapter 15 Petition Date: February 5, 2015

Court: United States Bankruptcy Court
       Southern District of Texas (Houston)

Chapter 15 Petitioner's   Robert Andrew Black, Esq.
Counsel:                  NORTON ROSE FULBRIGHT LLP
                          1301 McKinney, Suite 5100
                          Houston, TX 77010-3095
                          Tel: 409-835-5011
                          Fax: 409-835-5177
                          Email:
                          andrew.black@nortonrosefulbright.com

Estimated Assets: not indicated

Estimated Liabilities: not indicated


CASH STORE: Transaction with National Money Mart Closes
-------------------------------------------------------
The Cash Store Financial Services Inc. has completed the sale of
150 branches operated by the Company and its subsidiaries, and a
number of other assets, to National Money Mart Company.  The
Transaction was previously announced on Oct. 9, 2014.

Cash Store Financial will provide certain transition services to
National Money Mart Company for a period of time, but the Company
and its subsidiaries will cease making loans to customers effective
immediately.

Cash Store Financial and Money Mart will be addressing certain
customary purchase price adjustments in the near term.  The Company
will provide a further update regarding the Transaction after the
Company has addressed the purchase price adjustments and the
sealing order issued by the Court regarding certain aspects of the
Transaction.

Further details regarding the Transaction, along with other details
regarding the Company's Companies' Creditors Arrangement Act
proceedings, are available on the Monitor's Web site at
http://cfcanada.fticonsulting.com/cashstorefinancial. Cash Store
Financial will continue to provide updates on its restructuring and
the Transaction as matters advance.

                     About Cash Store Financial

Cash Store Financial and Instaloans primarily act as lenders to
facilitate short-term advances and provide other financial services
to income-earning consumers who may not be able to obtain them from
traditional banks.  Cash Store Financial also provides
private-label debit cards.

Cash Store Financial is not affiliated with Cottonwood Financial
Ltd. or the outlets Cottonwood Financial Ltd. operates in the
United States under the name "Cash Store".  Cash Store Financial
does not do business under the name "Cash Store" in the United
States and does not own or provide any consumer lending services in
the United States.

Cash Store Financial reported a net loss and comprehensive loss of
C$35.5 million for the year ended Sept. 30, 2013, as compared with
a net loss and comprehensive loss of C$43.5 million for the
year ended Sept. 30, 2012.  As of Sept. 30, 2013, the Company had
C$165 million in total assets, C$166 million in liabilities, and a
C$1.32 million shareholders' deficit.


CHINA GINSENG: KCG Americas Reports 9.8% Stake as of Dec. 31
------------------------------------------------------------
KCG Americas LLC disclosed in an amended Schedule 13G filed with
the U.S. Securities and Exchange Commission that as of Dec. 31,
2014, it beneficially owned 4,376,767 shares of common stock of
China Ginseng Holdings Inc. representing 9.86% based on outstanding
shares reported on the Issuer's 10-Q filed with the SEC for the
period ended Sept. 30, 2014.  A copy of the regulatory filing is
available for free at http://is.gd/nouuf6

                        About China Ginseng

Changchun City, China-based China Ginseng Holdings, Inc., conducts
business through its four wholly-owned subsidiaries located in
China.  The Company has been granted 20-year land use rights to
3,705 acres of lands by the Chinese government for ginseng
planting and it controls, through lease, approximately 750 acres
of grape vineyards.  However, recent harvests of grapes showed
poor quality for wine production which indicates that the
vineyards are no longer suitable for planting grapes for wine
production.  Therefore, the Company has decided not to renew its
lease for the vineyards with the Chinese government upon
expiration in 2013 and, going forward, it intends to purchase
grapes from the open market in order to produce grape juice and
wine.

China Ginseng reported a net loss of $4.76 million on $2.61
million of revenue for the year ended June 30, 2014, compared to a
net loss of $3.64 million on $3.56 million of revenue for the year
ended June 30, 2013.

Cowan, Gunteski & Co., P.A., in Tinton Falls, NJ, issued a "going
concern" qualification on the consolidated financial statements
for the year ended June 30, 2014.  The independent auditors noted
that the Company has incurred an accumulated deficit of
$14,169,335 since inception, has a working capital deficit of
$11,616,962, and there are existing uncertain conditions the
Company faces relative to its ability to obtain working capital
and operate successfully.  These conditions raise substantial
doubt about its ability to continue as a going concern.


CHINA LOGISTICS: To Sell Tianjin Branch
---------------------------------------
China Logistics Group, Inc., discontinued operations in the Tianjin
Branch of Shandong Jiajia International Freight & Forwarding Co.,
Ltd.  Shandong Jiajia and its branches in Shanghai, Qingdao,
Tianjin, Xiamen and Lianyungang are companies registed in People's
Republic of China and majority owned subsidiaries of the Company.

According to the Company, Tianjin Branch has not been operating
profitably in recent years due to the appreciation of Chinese
dollar, the slowdown in Chinese economy and the decline in Chinese
foreign trade industry.  In order to better focus the Company's
working capital and efficiency, the Company has decided to
discontinue the operation of Tianjin branch and hold the asset for
sale.  The Company expects to record a loss of approximately
$130,000 related to the disposition of the Tianjin Branch in fiscal
2015.

                       About China Logistics

Shanghai, China-based China Logistics Group, Inc., is a Florida
corporation and was incorporated on March 19, 1999, under the name
of ValuSALES.com, Inc.  The Company changed its name to Video
Without Boundaries, Inc., on Nov. 16, 2001.  On Aug. 31, 2006, it
changed its name from Video Without Boundaries, Inc., to
MediaReady, Inc., and on Feb. 14, 2008, it changed its name from
MediaReady, Inc., to China Logistics Group, Inc.

On Dec. 31, 2007, the Company entered into an acquisition
agreement with Shandong Jiajia International Freight and
Forwarding Co., Ltd., and its sole shareholders Messrs. Hui Liu
and Wei Chen, through which the Company acquired a 51% interest in
Shandong Jiajia.  The transaction was accounted for as a capital
transaction, implemented through a reverse recapitalization.

Shandong Jiajia, formed in 1999 as a Chinese limited liability
company, is an international freight forwarder and logistics
management company.  Headquartered in Qingdao, Shandong Jiajia has
branches in Shanghai, Xiamen, Lianyungang and Tianjin with
additional sales office in Rizhao.

The Company's balance sheet at Sept. 30, 2013, showed
$4.56 million in total assets, $4.44 million in total liabilities
and $120,000 in total stockholders' equity.

The Company has an accumulated deficit of $20.7 million at
Sept. 30, 2013.  During the nine months ended Sept. 30, 2013, the
Company used cash in operating activities of $374,000.  The Company
has reported net loss of $447,000 and net income of $491,000 for
the nine months ended Sept. 30, 2013 and 2012, respectively.  The
Company's ability to continue as a going
concern is dependent upon its ability to increase its revenues to
historic levels, generate profitable operations in the future and
to obtain any necessary financing to meet its obligations and
repay its liabilities arising from normal business operations when
they come due.  The outcome of these matters cannot be predicted
at this time.  These matters raise substantial doubt about the
ability of the Company to continue as a going concern, the
Company said in the quarterly report on Form 10-Q for the period
ended Sept. 30, 2013.



CLINE MINING: Court Approves Proposed Recapitalization Plan
-----------------------------------------------------------
Cline Mining Corporation on Feb. 5 disclosed that it has received
approval of the proposed recapitalization plan announced on
Dec. 3, 2014, as amended.

Cline Mining Corporation and its wholly-owned subsidiaries, New Elk
Coal Company LLC and North Central Energy Company obtained creditor
protection in proceedings under the Companies' Creditors
Arrangement Act, R.S.C. 1985, c. C-36, as amended pursuant to an
initial order of the Ontario Superior Court of Justice (Commercial
List) dated Dec. 3, 2014.  On Jan. 20, 2015, Cline amended its
proposed recapitalization plan.  On Jan. 21, 2015, the creditors
voting on the Recapitalization Plan approved it unanimously, and on
Jan. 27, 2015 the Court approved and sanctioned the
Recapitalization Plan.  On Jan. 28, the Court's approval of the
Recapitalization Plan was given full force and effect pursuant to
an Order of the U.S. Bankruptcy Court for the District of
Colorado.

The specific court orders and the Recapitalization Plan and other
items are available on the website of FTI Consulting Canada Inc.,
the court-appointed Monitor of Cline, New Elk and North Central:

              http://cfcanada.fticonsulting.com/cline/

On Dec. 3, 2014 the Court approved a claims process for the
identification of claims against the Applicants and their present
and former directors.  On the same date the Court made a meetings
order and accepted the filing of a plan of compromise and
arrangement in respect of the Applicants and authorized the
Applicants to call, hold and conduct meetings of their creditors in
order to provide them the opportunity to consider and vote on a
resolution to approve the Original Plan.

The Original Plan was amended on Jan. 20, 2015 to reflect the terms
of a proposed resolution in respect of a class action proceeding
against Cline and New Elk alleging violation of the U.S. federal
Worker Adjustment and Retraining Notification Act (the "WARN Act").
The Applicants' Recapitalization Plan was filed with the Court on
Jan. 20, 2015.

The principal terms of the Recapitalization Plan are:

a. the Recapitalization Plan is filed on a consolidated basis in
respect of the Applicants;

b. the Recapitalization Plan provides for three separate classes
of creditors, namely (i) secured noteholders, (ii) affected
unsecured creditors and the WARN Act plaintiffs;

c. the Recapitalization Plan apportions the aggregate secured
noteholders' claim between an allowed secured claim, which is
$92,673,897 for purposes of the Recapitalization Plan, and the
allowed unsecured claim, which is $17,500,000 and which represents
the secured noteholders' unsecured deficiency claim;

d. the allowed secured claim will be compromised, released and
discharged in exchange for new Cline common shares representing
100% of the equity in Cline, and new indebtedness in favor of the
secured noteholders evidenced by a credit agreement with a term of
seven years in the principal amount of $55 million, bearing
interest at 0.01% per annum plus an additional variable interest
payable only once the Applicants have achieved certain operating
revenue targets;

e. the claims of affected unsecured creditors, which exclude the
WARN Act claims but include the secured noteholders allowed
unsecured claim, will be compromised, released and discharged in
exchange for each such affected unsecured creditor's pro rata share
of an unsecured, subordinated, non-interest bearing entitlement to
receive $225,000 from Cline on the date that is eight years from
the date the Plan is implemented;

f. notwithstanding the allowed unsecured claim, the secured
noteholders will waive their entitlement to the proceeds of the
Unsecured Plan Entitlement, and all such proceeds will be available
for distribution to the other affected unsecured creditors on a pro
rata basis;

g. all affected unsecured creditors with valid claims of up to
$10,000 will, instead of receiving their pro rata share of the
Unsecured Plan Entitlement, be paid in cash for the full value of
their claims, provided that this cash payment will not apply to any
secured noteholders allowed unsecured claim;

h. all WARN Act claims will be compromised, released and
discharged in exchange for the payment on the Recapitalization Plan
implementation date of a cash payment in the amount of $90,000, and
an unsecured, subordinated, non-interest bearing entitlement to
receive $120,000 on the date that is eight years from the
Recapitalization Plan implementation date, provided that, in each
case, certain reasonable fees, costs and expenses arising from the
WARN Act class action case will be funded from such consideration;


i. certain claims against the Applicants, including employee
priority claims, government priority claims, claims covered by
insurance, certain prior-ranking secured claims of equipment
providers and the secured claim of Bank of Montreal in respect of
corporate credit card payables, will remain unaffected by the
Recapitalization Plan;

j. existing equity interests in Cline will be cancelled for no
consideration;

k. the shares of New Elk and North Central will not be affected by
the Recapitalization Plan and will remain owned by Cline and New
Elk, respectively; and

l. the Recapitalization Plan provides for the release of certain
parties in relation to certain claims.

The Meetings Order authorized the Applicants to convene a meeting
of secured noteholders, a meeting of affected unsecured creditors
and a meeting of WARN Act plaintiffs to consider and vote on the
Recapitalization Plan.  The Recapitalization Plan was approved on
January 21, 2015 by the creditors voting in each class, as
follows:

Secured Noteholders Class: 100% in number and 100% in value
(consisting of 16 secured noteholders.

Affected Unsecured Creditors Class: 100% in number and 100% in
value (consisting of 16 secured noteholders, 62 convenience
creditors and 4 other affected unsecured creditors).

WARN Act Plaintiffs Class: 100% in number and 100% in value
(consisting of the two representative plaintiffs in the WARN Act
class action).

Subsequent to the vote, the Court approved and sanctioned the
Recapitalization Plan on Jan. 27, 2015.

Each of the orders of the Court have been given full force and
effect in the United States pursuant to reciprocal orders of the
United States Bankruptcy Court for the District of Colorado
pursuant to Chapter 15 of the United States Code.

The implementation of the Recapitalization Plan remains conditional
upon the completion of certain conditions precedent.

The Applicants are in the process of working towards the
satisfaction of those conditions precedent and are targeting
implementation of the Recapitalization Plan within the next 30 to
60 days.  This process is not expected to affect Cline's day-to-day
business.  Cline has access to the funding necessary to continue
without disruption while the Recapitalization Plan is being
executed.  Cline intends to continue to pay employees for services
rendered during implementation of the Recapitalization Plan and
intends to continue paying its suppliers for goods and services
purchased by Cline and its subsidiaries after December 3, 2014
through the implementation period.

                          About Cline

Cline -- http://www.clinemining.com/-- is a Canadian mining
company headquartered in Toronto, Ontario with resource development
interests in Canada, the United States and Madagascar.



COLORADO SPRINGS: S&P Revises Outlook & Affirms 'BB' Rating
-----------------------------------------------------------
Standard & Poor's Ratings Services revised its outlook to stable
from negative and affirmed its 'BB' underlying rating for credit
program on Colorado Educational & Cultural Facilities Authority's
series 2010 charter school revenue bonds, issued on behalf of the
Colorado Springs Charter Academy (CSCA).

"The stable outlook reflects our view of the academy's improved
operations for fiscal 2014, resulting in strong maximum annual debt
service coverage and increasing unrestricted cash and investments,"
said Standard & Poor's credit analyst Robert Dobbins.

The 'BB' underlying rating reflects S&P's view of:

   -- CSCA's history of covenant violations, with a balance sheet
      that S&P views as very limited, though S&P notes that
      violation of that covenant is not an event of default and
      that maintenance of operating surpluses will likely allow
      the charter school to reach compliance with the covenant
      during the next year;

   -- CSCA's limited capacity for additional growth although
      enrollment has been relatively stable during the past three
      years; and

   -- The uncertainty associated with charter renewal and
      revocation risk, as with all charter schools operating in
      Colorado, given that the final maturity of the bonds exceeds

      the time horizon of the existing charter.

CSCA has $7 million in long-term debt outstanding.



COMMUNITY ACADEMY: S&P Cuts Rating on 2007 Revenue Bonds to CCC
---------------------------------------------------------------
Standard & Poor's Ratings Services lowered its long-term rating on
the District of Columbia's series 2007 tax-exempt fixed-rate
revenue bonds issued for Community Academy Public Charter School
(CAPCS) to 'CCC' from 'B-'.  The rating remains on CreditWatch with
developing implications.

"The 'CCC' rating reflects our view of the decision by DC Public
Charter School Board to initiate revocation of the school's
charter," said Standard & Poor's credit analyst Sharon Gigante. The
process started on Dec. 15, 2014, when the board voted unanimously
to initiate the process to revoke the school's charter on account
of fiscal mismanagement.  The charge against the school for fiscal
mismanagement is directly related to litigation against the school
and the school's founder, Kent Amos and his charter management
company, Community Action Partners and Charter School Management
LLC.

In October 2014, a Superior court judge passed a preliminary
injunction to order the school to stop payments to the management
company at which time the school severed its relationship with the
management company.  Per statute, the school presented its case
against fiscal mismanagement and revocation of the charter to the
DCPCSB in a public hearing on Jan. 27, 2015.  The school states it
does not believe it has entered a pattern of fiscal mismanagement
and is fiscally sound.  The final decision to revoke the school's
charter is pending a vote by DCPCSB and a decision is due on
Feb. 12, 2015.  If the board votes to revoke the charter, the
school plans to request a stay of revocation through the courts.

In S&P's opinion, CAPCS does not have sufficient liquidity to repay
the bond proceeds in the event the charter is revoked and could
default absent some external intervention, such as the sale of the
campus.

If the school is successful in appealing the revocation and the
DCPCSB rescinds the notice to revoke the charter, we would likely
raise the rating.

The CreditWatch developing reflects S&P's view of the uncertainty
regarding the outcome of the vote by DCPCSB to revoke the school's
charter.  Standard & Poor's expects to resolve the CreditWatch
action shortly after the board's decision on revocation.



COMSTOCK MINING: Promotes J. Merrill to Chief Financial Officer
---------------------------------------------------------------
Comstock Mining Inc. has promoted Judd Merrill to the position of
chief financial officer.  

Judd joined the Company in 2011, as controller, and became chief
accounting officer in 2014.  "Mr. Merrill brings strong financial
planning, treasury and cash management experience in the mining
sector in addition to his broader financial accounting, reporting
and internal control experience, having worked as Controller of
Fronteer Gold Inc. and as an Assistant Controller at Newmont Mining
Corp., both in Nevada," the Company stated in a press release.  He
also worked for Meridian Gold Company and Deloitte & Touche LLP.
Mr. Merrill holds a Bachelor of Science in Accounting from Central
Washington University and a Masters of Business Administration from
the University of Nevada, Reno and is a Certified Public
Accountant.

"Judd is a seasoned, reliable professional that has already
supervised significant cost and cycle time reductions while
improving quality, transparency and reliability of our financial
processes, including the maintenance of our capital structure,
system of internal controls and accelerated reporting cycle.  He
will be instrumental in facilitating further efficiencies in our
system," stated Corrado De Gasperis, president and CEO of the
Company.

                   Synchronizing Operations and
                      Further Reducing Costs

The Company continues to focus on increasing production and expects
to realize additional 2015 cost savings by synchronizing and
consolidating operations, improving strip ratios, eliminating
and/or lowering non-mining operating expenses.

During fiscal 2014, actual Lucerne Mine costs applicable to mining
revenue were $23.3 million, or $19.1 million net of silver
by-product credits as compared to $30.6 million, or $26.5 million
net of silver by-product credits in 2013, a 24% reduction.  The
Company has guided to additional cost reductions of $5 million in
2015, expecting to reduce the $23.3 million to $18.3 million,
before silver credits.  The Company has also identified $1.5
million of potential cost reductions in all other non-mining
activities, including general, administrative, land and
environmental areas.

"We are synchronizing our mining and mine development activities,
eliminating most third party consulting dependencies and
consolidating responsibilities.  In addition to Judd's expanded
role, we are bolstering our permitting competencies, consolidating
mining, mine development and construction activities, optimizing
our cycle times and shifts and related maintenance activities,
reducing land and claim maintenance costs while already
experiencing significantly improved fuel costs.  Our actions to
date have reduced our workforce, sustainably, by over 30 people
across the system, already achieving well over half of our targeted
savings," continued Mr. De Gasperis.

The Company expects positive net income and positive cash flow from
all operating and investing activities during the first half of
2015, while also commencing expansion and mining activities to the
east of the Lucerne mine, development of an underground Lucerne
mine, finalizing a Dayton mine plan and commencing permitting for
the Dayton Resource Area.

                       About Comstock Mining

Virginia City, Nev.-based Comstock Mining Inc. is a Nevada-based,
gold and silver mining company with extensive, contiguous property
in the historic Comstock district.  The Company began acquiring
properties in the Comstock in 2003.  Since then, the Company has
consolidated a substantial portion of the Comstock district,
secured permits, built an infrastructure and brought the
exploration project into test mining production.  The Company
continues acquiring additional properties in the Comstock
district, expanding its footprint and creating opportunities for
exploration and mining.  The goal of the Company's strategic plan
is to deliver stockholder value by validating qualified resources
(measured and indicated) and reserves (probable and proven) of
3,250,000 gold equivalent ounces by 2013, and commencing
commercial mining and processing operations by 2011, with annual
production rates of 20,000 gold equivalent ounces.

Comstock Mining reported a net loss available to common
shareholders of $13.3 million on $25.6 million of total revenues
for the year ended Dec. 31, 2014, compared to a net loss available
to common shareholders of $25.4 million on $24.8 million of total
revenues for the year ended Dec. 31, 2013.  The Company reported a
net loss available to common shareholders of $35.1 million in
2011.

As of Dec. 31, 2014, the Company had $46.4 million in total assets,
$24.2 million in liabilities and $22.2 million in total
stockholders' equity.


COOPER-STANDARD AUTOMOTIVE: Moody's Affirms B2 Corp. Family Rating
------------------------------------------------------------------
Moody's Investors Service affirmed the ratings of Cooper-Standard
Automotive Inc.'s Corporate Family Rating (CFR) and Probability of
Default Rating, at B2 and B2-PD, respectively, and senior secured
term loan at B1. The rating outlook is revised to stable from
positive. Cooper-Standard's Speculative Grade Liquidity Rating was
affirmed at SGL-3.

The change of Cooper-Standard's rating outlook to stable from
positive reflects Moody's belief that the recent announcement of
its intent to restructure its European manufacturing footprint is a
strong indication that the company will be unable to reach
previously established rating triggers supportive of higher ratings
over the next two years. Moody's believes that the announcement of
this restructuring action indicates that weaker than expected
operating performance in the 3rd quarter of 2014 is likely to
continue and will diminish the company's ability to reduce leverage
over the near-term. Cooper-Standard announced that the cash costs
associated with the restructuring are estimated to be $115-120
million through the end of 2017. This level of additional costs is
well in excess of Moody's previous expectations and will create a
drag on cash flow and de-leveraging capacity.

Cooper-Standard announced that the restructuring of its European
manufacturing footprint is based on the company's current and
anticipated market demands. The announced restructuring actions
include: shifting some production to Eastern European facilities;
consolidation of operations; and downsizing of certain facilities
with high costs and underutilized capacity in Western Europe.
Cooper-Standard intends for these actions to result in an
improvement in cost structure and operating efficiencies and
expects these restructuring activities to provide approximately
$50-$55 million in annualized savings after completion in 2017.

Moody's affirmed the following ratings on Cooper-Standard
Automotive Inc.:

Corporate Family Rating, at B2;

Probability of Default, at B2-PD;

$750 million senior secured term loan due 2021, at B1 (LGD3);

Speculative Grade Liquidity Rating, at SGL-3.

The $180 million asset based revolving credit facility is not rated
by Moody's.

Ratings Rationale

Cooper-Standard's B2 Corporate Family Rating continues to be
supported by the company's leading market positions in its fluid
handling and vehicle sealing systems businesses and a balanced
geographic footprint with North America expected to represent 52%
of estimated 2014 revenues, followed by Europe at 35%.
Cooper-Standard's growth prospects are supported by Moody's
forecast of U.S. auto demand improving about 1.5% in 2015, while
Europe is forecast to grow 1.6%. Moody's expects Cooper-Standard to
continue to demonstrate credit metrics, inclusive of restructuring
charges, supportive of the assigned rating over the
intermediate-term. For the LTM period ending September 30, 2014,
Cooper-Standard's debt/EBITDA (inclusive of Moody's standard
adjustments) and EBITA/Interest were 4.1x, and 2.4x, respectively.
Cooper-Standard's CFR also reflects the company's high leverage,
limited free cash flow, exposure to cyclical auto sales, and high
customer concentration.

Cooper-Standard's SGL-3 speculative grade liquidity rating
continues to reflect Moody's expectation for an adequate liquidity
profile over the next 12-15 months supported by existing cash and
availability under the $180 million asset based revolving credit
facility. At September 30, 2014, the company had $244.9 million of
cash on hand. The undrawn revolver expires in March 2018 and had
availability of about $144.4 million after $35.6 million of issued
letters of credit. Moody's expects that the announced restructuring
action will result in free cash flow generation over the near-term
closer to break-even levels, although there is seasonality with
outflows typical in the first half of the year. As of September 30,
2014, the company sold about $114 million of factored receivables
on a non-recourse and recourse basis. The risk of these outlets
being available over the long-term weighs on the company's
liquidity profile. The primary financial covenant under the asset
based revolver is a springing fixed charge covenant of 1.0 to 1
when availability falls below the greater of $18 million or 10% of
the facility commitment. The senior secured term loan does not have
financial maintenance covenants.

Future events that have the potential to drive a higher rating
include the demonstrated positive impact of restructuring actions
along with an ongoing stability in global automotive demand.
Consideration for a higher rating could result from Debt/EBITDA
approaching 3.5x, and EBITA/Interest coverage, inclusive of
restructuring, approaching 3.5x, while maintaining an adequate
liquidity profile.

Future events that have the potential to drive a lower rating
include weakness in global automotive demand that are not offset by
successful restructuring actions resulting in EBITA margins
approaching 4.0%, EBITA/Interest coverage approaching 2x, increased
borrowings or earnings declines leading to Debt/EBITDA leverage
approaching 5x. Debt funded acquisitions or shareholder
distributions or a weakening liquidity position would also drive a
lower rating.

The principal methodology used in this rating was the Global
Automotive Supplier Industry published in May 2013. Other
methodologies used include Loss Given Default for Speculative-Grade
Non-Financial Companies in the U.S., Canada and EMEA published in
June 2009.

Cooper-Standard, headquartered in Novi, Mich., is a leading global
supplier of systems and components for the automotive industry.
Products include sealing and trim, fuel and brake delivery, fluid
transfer, and anti-vibration systems. Cooper-Standard employs more
than 27,000 people globally and operates in 20 countries around the
world. The company had net sales of $3.3 billion for the LTM period
ending September 30, 2014.



CRUSH REAL ESTATE: Files for Chapter 11 Bankruptcy Protection
-------------------------------------------------------------
Crush Real Estate Series LLC filed for Chapter 11 bankruptcy
protection (Bankr. D. Mass. Case No. 15-10237) on Jan. 22, 2015.  

According to court documents, the "three family investment
property" is "presently vacant."  The Debtor has $1.1 million worth
of interest in the property, with a $275,000 secured claim, court
filings show.

Gary W. Cruickshank, Esq., at the Law Office of Gary W.
Cruickshank, serves as the Debtor's bankruptcy counsel.

Headquartered in South Boston, Crush Real Estate Series LLC is the
sole beneficiary of 427 East Sixth Street Realty Trust.  Maryann
McLeod Crush is the sole owner of Crush Real Estate.


CRYOPORT INC: Reports $2 Million Net Loss for Fourth Quarter
------------------------------------------------------------
Cryoport, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
attributable to common stockholders of $1.99 million on $975,188 of
revenues for the three months ended Dec. 31, 2014, compared to a
net loss attributable to common stockholders of $1.84 million on
$757,327 of revenues for the same period last year.

For the nine months ended Dec. 31, 2014, the Company reported a net
loss attributable to common stockholders of $8.24 million on $2.73
million of revenues compared to a net loss attributable to common
stockholders of $18.12 million on $1.82 million of revenues for the
same period a year ago.

As of Dec. 31, 2014, Cryoport had $1.86 million in total assets,
$2.98 million in total liabilities, all current, and a $1.11
million total stockholders' deficit.

As of Dec. 31, 2014, the Company had cash and cash equivalents of
$773,900 and negative working capital of $1.6 million.
Historically, the Company has financed its operations primarily
through sales of its debt and equity securities.

"The momentum in our business is undeniable as we report another
quarter of strong revenue growth and gross margin expansion.
Revenues for the third fiscal quarter and first nine months of
fiscal 2015 were the highest in our company's history," stated
Cryoport's CEO, Jerrell Shelton.

"The global biotech and life sciences boom continues to drive
demand for cryogenic shipments of biologic material.  Innovations
in immuno-oncology, gene therapy, CAR-T cell products and major
advances in drug discovery and bio-manufacturing have made the use
of advanced cryogenic logistics solutions an imperative for
laboratories, clinics and Big Pharma.  Cryoport supports the safe
and secure transfer of biologic materials around the globe.  This
is why the three major air freight shipping companies in the world,
collectively accounting for 85% market share, have chosen Cryoport
as their cryogenic logistics provider of choice."

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

                        http://is.gd/5UIXdj

                          About Cryoport

Lake Forest, Calif.-based CryoPort, Inc. (OTC BB: CYRX) provides
comprehensive solutions for frozen cold chain logistics, primarily
in the life science industries.  Its solutions afford new and
reliable alternatives to currently existing products and services
utilized for bio-pharmaceuticals and biologics, including in-vitro
fertilization, cell lines, vaccines, tissue and other commodities
requiring a reliable frozen solution.

Cryoport reported a net loss of $19.56 million on $2.65 million of
revenues for the year ended March 31, 2014, as compared with a net
loss of $6.38 million on $1.10 million of revenues for the year
ended March 31, 2013.

KMJ Corbin & Company LLP, in Costa Mesa, California, issued a
"going concern" qualification on the consolidated financial
statements for the year ended March 31, 2014.  The independent
auditors noted that the Company has incurred recurring operating
losses and has had negative cash flows from operations since
inception.  Although the Company has cash and cash equivalents of
$369,581 at March 31, 2014, management has estimated that cash on
hand, which include proceeds from convertible bridge notes
received in the fourth quarter of fiscal 2014, will only be
sufficient to allow the Company to continue its operations into
the second quarter of fiscal 2015.  These matters raise
substantial doubt about the Company's ability to continue as a
going concern, the auditors maintained.


D.A.B. GROUP: Files Amended Sale-Based Disclosure Statement
-----------------------------------------------------------
D.A.B. Group LLC has filed an Amended Disclosure Statement in
connection with its amended plan of reorganization dated Jan. 27,
2015.

The Plan will be implemented by the sale of the Property from
which the Disbursing Agent will establish the Confirmation Fund
and related reserves.  The Confirmation Fund shall consist of the
net sale proceeds less any payments and distributions made on the
Closing Date to holders of Administrative Expenses and allowed
Class 1, 2, and 3 claims.

All Cash necessary to make payments required under the Plan will
be obtained from either the proceeds of the sale of the Property
or any recoveries from existing Causes of Action that the Debtor
receives from Monty One LLC and 81-83 Rivington Corp.  These
Causes of Action are important to the Debtor, and will be pursued
aggressively, although the ultimate recoveries are difficult to
assess at this juncture.

The Debtor believes that the treatment of claims under the Plan
provides a far better and quicker recovery than creditors could
otherwise expect under a liquidation in Chapter 7 of the
Bankruptcy Code.  In fact, confirmation of the Plan enables the
Debtor to effectuate a sale of the Property on an exempt basis
under 11 U.S.C. §1146(a), saving the Debtor’s estate
approximately
$1,000,000 in transfer taxes.

A copy of the Amended Disclosure Statement is available at:

                        http://is.gd/KjTKk2

                         About DAB Group

D.A.B. Group LLC, owner of a stalled 16-story Allen Street Hotel
project in Orchard Street, New York, sought Chapter 11 protection
(Bankr. S.D.N.Y. Case No. 14-12057) in Manhattan on July 14, 2014,
to pursue a prompt sale of the property.  The case is assigned to
Judge Shelley C. Chapman.

The property has been in the hands of a receiver since July 18,
2011.  Simon J.K. Miller, of Blank Rome LLP, serves as receiver.

J. Ted Donovan, Esq., at Goldberg Weprin Finkel Goldstein LLP, in
New York, serves as counsel to the Debtor.

DAB Group said in a court filing that its property is continguous
to the commercial property owned by its affiliate, 77-79 Rivington
Street Realty LLC (Bankr. S.D.N.Y. Case No. 14-10339).
Accordingly, DAB's Chapter 11 case is being filed as a related
proceeding.



DENDREON CORP: Committee Proposes Epiq as Noticing Agent
--------------------------------------------------------
The Official Committee of Unsecured Creditors in the Chapter 11
case of Dendreon Corporation, et al., seeks approval from the
Bankruptcy Court to retain Epiq Bankruptcy Solutions, LLC, as
noticing agent.

The Committee is asking the Court to (i) determine that the
Committee is not authorized or required to provide access to
confidential or privileged information; and (ii) approve the
retention of Epiq effective as of Nov. 19, 2014.

As the noticing agent for the Committee, Epiq will assist with,
among other things, the establishment of a website to make certain
non-confidential information available to general unsecured
creditors.  The proposed Website address to be hosted by Epiq will
be available at: http://dm.epiq11.com/DEN.

The hourly rates of Epiq's personnel are:

         Professional Services                  Title Rates
         ---------------------                  -----------
Clerical/Administrative Support                  $30 –  $45
Case Manager                                     $50 –  $80
IT / Programming                                 $70 – $130
Senior Case Manager                              $85 – $130
Director Case Management Services               $145 – $195
Consultant/Senior Consultant                    $145 – $190
Director/Vice President Consulting                 $225

                       About Dendreon Corp

With corporate headquarters in Seattle, Washington, Dendreon
Corporation -- http://www.dendreon.com/-- a biotechnology company


focused on the development of novel cellular immunotherapies to
significantly improve treatment options for cancer patients.
Dendreon's first product, PROVENGE (sipuleucel-T), was approved by
the U.S. Food and Drug Administration (FDA) and became
commercially available for the treatment of men with asymptomatic
or minimally symptomatic castrate-resistant (hormone-refractory)
prostate cancer in April 2010.  Dendreon is traded on the NASDAQ
Global Market under the symbol DNDN.

Dendreon and its U.S. subsidiaries filed for Chapter 11 bankruptcy
protection (Bankr. D. Del.) on Nov. 10, 2014.  The Debtors have
requested that their cases be jointly administered under Case No.
14-12515.  The petitions were signed by Gregory R. Cox, interim
chief financial officer and treasurer.

Dendreon sought bankruptcy protection after it reached agreements
on the terms of a financial restructuring with certain  holders of
the Company's 2.875% Convertible Senior Notes due 2016
representing 84% of the $620 million aggregate principal amount of
the 2016 Notes.  The financial restructuring may take the form of
a stand-alone recapitalization or a sale of the Company or its
assets.

The Debtors have engaged Skadden, Arps, Slate, Meagher & Flom LLP,
as counsel; Lazard Freres & Co. LLC, as investment banker;
AlixPartners, as restructuring advisors; and Prime Clerk LLC as
claims and noticing agent.

The Debtors disclosed $365 million in total assets and
$664 million in total liabilities as of June 30, 2014.

The U.S. Trustee for Region 3 appointed five members to the
Official Committee of Unsecured Creditors.


DENDREON CORP: Proposes March 16 Gen. Claims Bar Date
-----------------------------------------------------
Dendreon Corporation, et al., are seeking approval to establish
these bar dates for filing claims against the Debtors:

   1. March 16, at 4:00 p.m., as general bar date; and

   2. May 11, at 4:00 p.m., as governmental bar date.

Each claim form must be actually received on or before the
applicable bar date associated with such claim by Prime Clerk LLC,
the Court-approved claims and noticing agent in the cases, either
(a) electronically using the interface available on Prime Clerk's
website at https://cases.primeclerk.com/dendreon/EPOC-Index or (b)
via hard copy at these addresses:

         Dendreon Corporation Claims Processing Center
         c/o Prime Clerk LLC
         830 3rd Avenue, 9th Floor
         New York, NY 10022

                       About Dendreon Corp

With corporate headquarters in Seattle, Washington, Dendreon
Corporation -- http://www.dendreon.com/-- a biotechnology company


focused on the development of novel cellular immunotherapies to
significantly improve treatment options for cancer patients.
Dendreon's first product, PROVENGE (sipuleucel-T), was approved by
the U.S. Food and Drug Administration (FDA) and became commercially
available for the treatment of men with asymptomatic
or minimally symptomatic castrate-resistant (hormone-refractory)
prostate cancer in April 2010.  Dendreon is traded on the NASDAQ
Global Market under the symbol DNDN.

Dendreon and its U.S. subsidiaries filed for Chapter 11 bankruptcy
protection (Bankr. D. Del.) on Nov. 10, 2014.  The Debtors
requested that their cases be jointly administered under Case No.
14-12515.  The petitions were signed by Gregory R. Cox, interim
chief financial officer and treasurer.

Dendreon sought bankruptcy protection after it reached agreements
on the terms of a financial restructuring with certain  holders of
the Company's 2.875% Convertible Senior Notes due 2016 representing
84% of the $620 million aggregate principal amount of the 2016
Notes.  The financial restructuring may take the form of
a stand-alone recapitalization or a sale of the Company or its
assets.

The Debtors have engaged Skadden, Arps, Slate, Meagher & Flom LLP,
as counsel; Lazard Freres & Co. LLC, as investment banker;
AlixPartners, as restructuring advisors; and Prime Clerk LLC as
claims and noticing agent.

The Debtors disclosed $365 million in total assets and
$664 million in total liabilities as of June 30, 2014.

The U.S. Trustee for Region 3 appointed five members to the
Official Committee of Unsecured Creditors.



DENTEK INC: Case Summary & 8 Largest Unsecured Creditors
--------------------------------------------------------
Debtor affiliates filing separate Chapter 11 bankruptcy petitions:

    Debtor                                     Case No.
    ------                                     --------
    Dentek, Inc.                               15-20194
    8056 Reeder Road
    Overland Park, KS 66214

    Sokolov Dental Laboratory, Inc.            15-20196
    8056 Reeder Road
    Overland Park, KS 66214

Chapter 11 Petition Date: February 5, 2014

Court: United States Bankruptcy Court
       District of Kansas (Kansas City)

Judge: Hon. Dale L. Somers

Debtors' Counsel: Jeffrey A. Deines, Esq.
                  LENTZ CLARK DEINES PA
                  9260 Glenwood
                  Overland Park, KS 66212
                  Tel: (913) 648-0600
                  Fax: (913) 648-0664
                  Email: jdeines@lcdlaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petitions were signed by Alexander Sokolovsky, president.

A list of Dentek, Inc.'s eight largest unsecured creditors is
available for free at http://bankrupt.com/misc/ksb15-20194.pdf

A list of Sokolov Dental's eight largest unsecured creditors is
available for free at http://bankrupt.com/misc/ksb15-20196.pdf


DETROIT, MI: Pension Cuts From Bankruptcy Prompt Cries of Betrayal
------------------------------------------------------------------
Chris Christoff, writing for Bloomberg News, reported that pension
checks will shrink 6.7 percent for 12,000 Detroit retirees
beginning in March.  Making matters worse, many also must pay back
thousands of dollars of excess interest they received, the report
related.

In addition to absorbing pension cuts, almost 11,000 retirees and
current employees must repay an estimated $212 million in excess
interest they accrued in a city-run savings plan, which is separate
from the pension fund, according to the report.  The annuity plan
guaranteed a 7.9 percent annual return even when the pension lost
money, and employees also received bonus interest in some years,
the report further related.

                   About the City of Detroit

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 estimated
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.

The Hon. Steven Rhodes oversees the bankruptcy case.  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.  Lazard Freres & Co. LLC serves as the Retiree Committee's
financial advisor.

The TCR, on Dec. 18, 2014, reported that Detroit has filed a
notice that the effective date of its bankruptcy-exit plan
occurred on Dec. 10, 2014.  U.S. Bankruptcy Judge Steven Rhodes on
Nov. 12, 2014, entered an order confirming the Eighth Amended Plan
for the Adjustment of Debts of the City of Detroit.


DETROIT, MI: Wayne County Threatens Bankruptcy Deal
---------------------------------------------------
Robert Snell, writing for The Detroit News, reported that Wayne
County is threatening to unravel a breakthrough deal that settled
Detroit's bankruptcy case unless it receives land or more than $30
million -- money the city needs to bankroll Detroit's
revitalization.

According to the report, the threat emerged in a bankruptcy court
filing on Feb. 5 that reveals Wayne County and Detroit are fighting
over a nearly 40-year-old deal to redevelop the landmark former
Detroit Police Department headquarters at 1300 Beaubien in downtown
Detroit.  The city's bankruptcy lawyer criticized Wayne County for
waiting until two months after Detroit emerged from bankruptcy
court to pick a fight over real estate and a historic but rundown
Albert Kahn-designed building.

                   About the City of Detroit

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 estimated
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.

The Hon. Steven Rhodes oversees the bankruptcy case.  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.  Lazard Freres & Co. LLC serves as the Retiree Committee's
financial advisor.

The TCR, on Dec. 18, 2014, reported that Detroit has filed a
notice that the effective date of its bankruptcy-exit plan
occurred on Dec. 10, 2014.  U.S. Bankruptcy Judge Steven Rhodes on
Nov. 12, 2014, entered an order confirming the Eighth Amended Plan
for the Adjustment of Debts of the City of Detroit.


DIXIE FOODS: Posts $4.23-Mil. Net Loss in Nov. 30 Quarter
---------------------------------------------------------
Dixie Foods International, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q, disclosing a
net loss of $4.23 million on $1.98 million of revenue for the three
months ended Nov. 30, 2014, compared with a net loss of $1.02
million on $1.28 million of revenue for the same period in 2013.

The Company's balance sheet at Nov. 30, 2014, showed $5.3 million
in total assets, $12 million in total liabilities, and a
stockholders' deficit of $9.18 million.

As of Nov. 30, 2014, the Company has a working capital deficit of
$10.58 million and an accumulated deficit of $24.7 million.  The
continuation of the Company as a going concern is dependent upon
the continued financial support from its management, and its
ability to: identify future investment opportunities and obtain the
necessary debt or equity financing and generate profitable
operations from the Company's future operations.  These factors
raise substantial doubt regarding the Company's ability to continue
as a going concern.

A copy of the Form 10-Q is available at:
                              
                       http://is.gd/7ZrzmK
                          
Las Vegas, Nev.-based Dixie Foods International, Inc., operates
as a fast casual restaurant. It operates sandwich shops in
Dallas-Fort Worth, Texas; Orange, San Diego, and Southern Los
Angeles counties in California; and Las Vegas, Nevada.  The
company also develops and operates Papa John's in Fresno,
Sacramento, and Central Valley trade areas.

The Company reported a net loss of $10.7 million on $6.37 million
in revenues for the year ended Aug. 31, 2014, compared to a net
loss of $6.4 million on $4.5 million of revenues in the same
period during the prior.

The Company's balance sheet at Aug. 31, 2014, showed $4.64
million in total assets, $10.72 million in total liabilities, and
a stockholders' deficit of $4.99 million

Sadler Gibb, LLC, expressed substantial doubt about the
Company's ability to continue as a going concern, citing that the
Company has a working capital deficit of $8.26 million and an
accumulated deficit of $20.46 million and will need additional
working capital to service its debt and for its planned activities.


DOLLAR TREE: Capital Structure Change No Impact on Moody's Ba2 CFR
------------------------------------------------------------------
Moody's Investors Service said that the proposed changes in the
proforma capital structure of Dollar Tree, Inc. will have no impact
on its Ba2 corporate family rating, the Ba1 rating of the proposed
revolver, term loan A, term loan B or the Ba3 rating of the
proposed $2,500 senior unsecured notes maturing 2023. The new
proposed $750 million senior unsecured notes maturing 2020 have
also been assigned a rating of Ba3 which is the same level as the
notes maturing 2023.

Dollar Tree, Inc. announced that it will make some changes in the
amounts of the different tranches of debt issued to finance its
acquisition of Family Dollar Stores, Inc. (Baa3 RUR down). These
changes include the reduction in the proposed Term Loan B to $3,950
million from $5,200 million, the increase in the proposed Term Loan
A from $500 million to $1,000 million and the addition of a new
tranche of $750 million senior unsecured notes maturing 2020. In
addition the company stated that it will not draw any amount under
its $1,250 million revolver to fund the acquisition and will use
cash on hand instead. The company had previously anticipated
borrowing $240 million under the revolver to fund the acquisition.

The acquisition is subject to regulatory review and is expected to
close in first half of 2015. Moody's anticipates 300-500 store
divestitures will be mandated by the regulators as part of the
approval of the transaction. The transaction also anticipates the
rollover of $300 million in legacy Family Dollar notes (currently
rated Baa3 on review for downgrade) as part of the new capital
structure. Post closing the legacy notes will be senior secured
obligations of Family Dollar. If the transaction closes as
anticipated these notes will be downgraded to Ba1 from their
current rating of Baa3.

The proposed changes will reduce the proforma debt by $240 million
and will increase the amount of debt amortization as the Term Loan
A will be much larger. The Term Loan A is also easily prepayable
compared to the other tranches of debt and Moody's expect the
company to do so with its excess free cash flow.

The Ba2 Corporate Family Rating continues to reflect the combined
company's sizable scale and complementary business models across
fixed and multi-price points. Moody's views the dollar store sector
favorably and expects that it will continue to grow given its low
price points and convenient locations which will continue to
resonate with financially constrained consumers. Dollar Tree stores
are mostly suburban whereas Family Dollar stores are urban and
rural giving the combined company a complementary geographic
footprint with a broad assortment of merchandise. Ratings are also
supported by the company's very good liquidity. The ratings also
reflect the significant execution and integration risks associated
with the acquisition and the considerable challenges associated
with improving the weak operating performance of Family Dollar.
Dollar Tree management has vast experience in the discount
retailing space and has demonstrated its ability to increase
profitability and traffic while growing the overall store base and
therefore Moody's expects that operating performance of the Family
Dollar store base will improve as new management implements
strategies to streamline sourcing and procurement, invest in price
and optimize product offerings to improve traffic. Operating
efficiencies and strategic initiatives to minimize costs are also
expected to reduce expenses and improve cash flow generation of the
combined company. Therefore despite Dollar Tree's credit metrics
being weak at closing Moody's expects them to improve significantly
in the near to medium term - debt/EBITDA and EBITA/interest
including lease adjustments is expected to be below 5.0 times and
about 3.0 times respectively within 18-24 months of closing of the
transaction.



EAT AT JOE'S: Joseph Fiore Quits as President and CEO
-----------------------------------------------------
Joseph Fiore resigned as Eat at Joe's, Ltd.'s president and chief
executive officer effective Feb. 1, 2015.  Mr. Fiore remains a
director of the Company, Chairman of the Board of Directors, chief
financial officer, principal accounting officer and secretary.

Effective Feb. 1, 2015, James Thompson, Esq., age 53, was appointed
the Company's president and chief executive officer for a term of
five years.  There was no arrangement or understanding between Mr.
Thompson and any other person pursuant to which he was selected as
an officer.  There exist no family relationship between any
director, executive officer, and Mr. Thompson.

Mr. Thompson has been engaged in the private practice of law for
the previous five years emphasizing business, real estate and
construction law, in both the transactional and litigation practice
areas.  Mr. Thompson was awarded a Bachelor of Science Degree in
Business Administration from the University of Denver in 1983.

Since the beginning of the Company's last fiscal year, Mr. Thompson
was not involved in any transaction with any related person,
promoter or control person of the Company that is required to be
disclosed pursuant to Item 404 of Regulation S-K.

The Company and Mr. Thompson entered into a written contract, in
which Mr. Thompson agreed to render services and assume fiduciary
duties to protect and advance the best interests of the Company as
Chief Executive Officer of the Company.  Mr. Thompson's duties
include, but are not limited to employing and terminating key
employees, signing agreements and otherwise committing the Company
consistent with policies and budgets established by the Company

The Company agreed to compensate Mr. Thompson with a base salary of
$180,000 paid in accordance with the regular payroll practices of
the Company for executives, less such deductions or amounts as are
required to be deducted or withheld by applicable laws or
regulations.  In addition, at the beginning of each employment
year, the Company agreed to issue to Mr. Thompson 1,000,000 shares
of the Company's common stock.  All common stock issued to Mr.
Thompson was agreed to be restricted pursuant to Rule 144, and
contained additional restrictions on Mr. Thompson's re-sale
limiting his sales to no more than 10,000 shares per day, plus an
additional 10,000 shares per day for every 250,000 shares of daily
trading volume.  The Company also agreed to pay Mr. Thompson a
signing bonus in the amount of $360,000.00 and to issue to Mr.
Thompson 5,000,000 shares of the Company's restricted common
stock.

                        About Eat at Joe's

Scarsdale, N.Y.-based Eat at Joe's, Ltd., presently owns and
operates one theme restaurant located in Philadelphia,
Pennsylvania.

Eat at Joe's  reported a net loss of $1.38 million in 2013
following net income of $2.84 million on in 2012.

Robison, Hill & Co., in Salt Lake City, Utah, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2013.  The independent auditors noted
that the Company has suffered recurring losses from operations
raising substantial doubt about its ability to continue as a going
concern.


EC OFFSHORE: Petitioners Seek Lawyer to Resurrect Business
----------------------------------------------------------
Katy Stech, writing for The Wall Street Journal, reported that
Campbell Evans, Open Choke Exploration, LLC, and OCXO, LLC, which
an involuntary Chapter 11 case against EC Offshore Properties,
Inc., asked permission from the U.S. Bankruptcy Court in the
Western District of Louisiana to hire lawyer Martin A. Schott to
resurrect the business so that the company won't lose its lease on
drilled land.

According to the report, EC Offshore's lease expires on Feb. 16 and
if the company's lease expires, it's less likely that the unpaid
contractors will be paid.

Petitioning Creditors Campbell Evans, Open Choke Exploration, LLC,
and OCXO, LLC, which collectively hold more than $140,000 in debt,
filed an involuntary Chapter 11 case against Houston, Texas-based
EC Offshore Properties, Inc., on Jan. 26, 2015 (Bankr. W.D. La.
Case No. 15-50085).  The Petitioners' counsel are Armistead M.
Long, Esq., and Louis M. Phillips, Esq., at Gordon Arata McCollam
Duplantis & Eagan, LLC.


EMPIRE RESORTS: Amends Bonus Plan for Senior Executives
-------------------------------------------------------
The compensation committee of the Board of Directors of Empire
Resorts, Inc., amended the cash bonus plan for the senior
executives of the Company, which was originally adopted on Nov. 10,
2014.  Pursuant to the Amendment, the amount set aside for possible
award to Joseph A. D'Amato, Laurette J. Pitts, Nanette L. Horner
and Charles Degliomini with respect to the fiscal year ended Dec.
31, 2014, was increased from $350,000 to $425,000.  Except for the
Amendment, the Bonus Plan remains unchanged and in full force and
effect, according to a Form 8-K filed with the U.S. Securities and
Exchange Commission.

                        About Empire Resorts

Based in Monticello, New York, Empire Resorts, Inc. (NASDAQ: NYNY)
-- http://www.empireresorts.com/-- owns and operates Monticello
Casino & Raceway, a video gaming machine and harness racing track
and casino located in Monticello, New York, 90 miles northwest of
New York City.

Empire Resorts reported a net loss applicable to common shares of
$27.05 million in 2013 following a net loss applicable to common
shares of $2.26 million in 2012.

The Company's balance sheet at Sept. 30, 2014, showed $42.4
million in total assets, $56.7 million in total liabilities and a
$14.3 million total stockholders' deficit.


ENDEAVOUR INTERNATIONAL: Confirmation Hearing Postponed Sine Die
----------------------------------------------------------------
The hearing to consider confirmation of the Amended Joint Plan of
Reorganization, dated Dec. 23, 2014, of Endeavour Operating
Corporation and its affiliated debtors, including Endeavour
International Corporation, has been adjourned to a date to be
determined.

The Confirmation Hearing was originally scheduled for today, Feb.
9, 2015 at 10:00 a.m. (Prevailing Eastern Time), before the
Honorable Kevin J. Carey, United States Bankruptcy Judge, in the
Bankruptcy Court for the District of Delaware.

The Debtors said the Plan may be modified. As a result of the
recent decline in oil and gas prices and the implications of such
decline on the Debtors' Proposed Plan, the Debtors have engaged in
discussions with certain of the Consenting Creditors and their
advisors and the advisors to the Official Committee of Unsecured
Creditors concerning the impact of such price declines on the
Proposed Plan and potential amendments to the Restructuring Support
Agreement and the Proposed Plan.

The Debtors will file and serve notice of the rescheduled
Confirmation Hearing date on all parties in interest.

                    About Endeavour International

Houston, Texas-based Endeavour International Corporation (OTC:
ENDRQ) (LSE: ENDV) is an oil and gas exploration and production
company focused on the acquisition, exploration and development of
energy reserves in the North Sea and the United States.

On Oct. 10, 2014, Endeavour International and five affiliates
filed voluntary petitions for relief under Chapter 11 of the
United States Bankruptcy Code after reaching a restructuring deal
with noteholders.  The cases are pending joint administration
under Endeavour Operating Corp.'s Case No. 14-12308 before the
Honorable Kevin J. Carey (Bankr. D. Del.).

As of June 30, 2014, the Company had $1.55 billion in total
assets, $1.55 billion in total liabilities, $43.7 million in
series c convertible preferred stock, and a $41.5 million
stockholders' deficit.

The Debtors have tapped Weil, Gotshal & Manges LLP as counsel;
Richards, Layton & Finger, P.A., as co-counsel; The Blackstone
Group L.P., as financial advisor; AlixPartners, LLP, as
restructuring advisor; and Kurtzman Carson Consultants LLC, as
claims and noticing agent.

The U.S. Trustee for Region 3 has appointed three members to the
Official Committee of Unsecured Creditors in the Chapter 11 cases
of Endeavour Operating Corporation and its debtor affiliates.  The
Committee is represented by David M. Bennett, Esq., Cassandra
Sepanik Shoemaker, Esq., and Demetra L. Liggins, Esq., at Thompson
& Knight LLP, and Neil B. Glassman, Esq., Scott D. Cousins, Esq.,
and Evan T. Miller, Esq., at Bayard, P.A.  Alvarez & Marsal North
America, LLC, serves as financial advisors to the Committee, while
UpShot Services LLC serves as website administrator.

                        *     *     *

U.S. Bankruptcy Judge Kevin J. Carey in of Delaware, on Dec. 22,
2014, approved the disclosure statement explaining Endeavour
Operating Corporation, et al.'s joint plan of reorganization and
scheduled the confirmation hearing for Feb. 9, 2015, at 10:00 a.m.
(prevailing Eastern time).  Objections to the confirmation of the
plan were due Jan. 27, 2015.

The Amended Plan, dated Dec. 19, 2014, provides that it is
supported by creditors who collectively hold 82.99% of the March
2018 Notes Claims (Class 3), 70.88% of the June 2018 Notes Claims
(Class 4), 99.75% of the 7.5% Convertible Bonds Claims (Class 5),
and 69.08% of the Convertible Notes Claims (Class 6).  The Amended
Plan also provides that holders of general unsecured claims will
recover an estimated 15% of the total claims amount, which is
estimated to be $6,000,000.


ENERGY FUTURE: Creditors Object to Proposed Exclusivity Extension
-----------------------------------------------------------------
Peg Brickley, writing for Daily Bankruptcy Review, reported that
creditors are pushing for action in Energy Future Holdings Corp.'s
$42 billion bankruptcy, a proceeding a bond trustee says is
"meandering" along amid mounting professional fees.

According to the report, the protests come in response to a request
by Energy Future for a court order that would leave it in sole
charge of its Chapter 11 proceeding until Oct. 29, the last date
allowed by law.  The Texas energy seller says it's engaged in talks
aimed at building a broad base of support for a Chapter 11
emergence plan and needs no competition from creditors that might
want to float rival plans.

                     About Energy Future

Energy Future Holdings Corp., formerly known as TXU Corp., is a
privately held diversified energy holding company with a portfolio
of competitive and regulated energy businesses in Texas.  Oncor,
an 80 percent-owned entity within the EFH group, is the largest
regulated transmission and distribution utility in Texas.

The Company delivers electricity to roughly three million delivery
points in and around Dallas-Fort Worth.  EFH Corp. was created in
October 2007 in a $45 billion leverage buyout of Texas power
company TXU in a deal led by private-equity companies Kohlberg
Kravis Roberts & Co. and TPG Inc.

On April 29, 2014, Energy Future Holdings and 70 affiliated
companies sought Chapter 11 bankruptcy protection (Bankr. D. Del.
Lead Case No. 14-10979) after reaching a deal with some key
financial stakeholders to keep its businesses operating while
reducing its roughly $40 billion in debt.

The Debtors' cases have been assigned to Judge Christopher S.
Sontchi (CSS).  The Debtors are seeking to have their cases
jointly administered for procedural purposes.

As of Dec. 31, 2013, EFH Corp. reported total assets of $36.4
billion in book value and total liabilities of $49.7 billion.  The
Debtors have $42 billion of funded indebtedness.

EFH's legal advisor for the Chapter 11 proceedings is Kirkland &
Ellis LLP, its financial advisor is Evercore Partners and its
restructuring advisor is Alvarez & Marsal.  The TCEH first lien
lenders supporting the restructuring agreement are represented by
Paul, Weiss, Rifkind, Wharton & Garrison, LLP as legal advisor,
and Millstein & Co., LLC, as financial advisor.

The EFIH unsecured creditors supporting the restructuring
agreement are represented by Akin Gump Strauss Hauer & Feld LLP,
as legal advisor, and Centerview Partners, as financial advisor.
The EFH equity holders supporting the restructuring agreement are
represented by Wachtell, Lipton, Rosen & Katz, as legal advisor,
and Blackstone Advisory Partners LP, as financial advisor.  Epiq
Systems is the claims agent.

Wilmington Savings Fund Society, FSB, the successor trustee for
the second-lien noteholders owed about $1.6 billion, is
represented by Ashby & Geddes, P.A.'s William P. Bowden, Esq., and
Gregory A. Taylor, Esq., and Brown Rudnick LLP's Edward S.
Weisfelner, Esq., Jeffrey L. Jonas, Esq., Andrew P. Strehle, Esq.,
Jeremy B. Coffey, Esq., and Howard L. Siegel, Esq.

An Official Committee of Unsecured Creditors has been appointed in
the case.  The Committee represents the interests of the unsecured
creditors of ONLY of Energy Future Competitive Holdings Company
LLC; EFCH's direct subsidiary, Texas Competitive Electric Holdings
Company LLC; and EFH Corporate Services Company, and of no other
debtors.  The Committee has selected Morrison & Foerster LLP and
Polsinelli PC for representation in this high-profile energy
restructuring.  The lawyers working on the case are James M. Peck,
Esq., Brett H. Miller, Esq., and Lorenzo Marinuzzi, Esq., at
Morrison & Foerster LLP; and Christopher A. Ward, Esq., Justin K.
Edelson, Esq., Shanti M. Katona, Esq., and Edward Fox, Esq., at
Polsinelli PC.



ENERGY TRANSFER: Bank Debt Trades at 5% Off
-------------------------------------------
Participations in a syndicated loan under which Energy Transfer
Equity LP is a borrower traded in the secondary market at 94.93
cents-on-the-dollar during the week ended Friday, Feb. 6, 2015,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in The Wall Street Journal.  This represents an increase
of 0.38 percentage points from the previous week, The Journal
relates.  The Company pays 250 basis points above LIBOR to borrow
under the facility.  The bank loan matures on Nov. 15, 2019, and
carries Moody's Ba2 rating and Standard & Poor's BB rating.  The
loan is one of the biggest gainers and losers among 197 widely
quoted syndicated loans with five or more bids in secondary trading
for the week ended Friday.



ERF WIRELESS: Issues 34.9 Million Common Shares
-----------------------------------------------
ERF Wireless, Inc., issued 34,939,933 common stock shares pursuant
to existing convertible promissory notes from January 31 through
Feb. 6, 2015, according to a regulatory filing with the U.S.
Securities and Exchange Commission.  The Company receives no
additional compensation at the time of the conversions beyond that
previously received at the time the Convertible Promissory Notes
were originally issued.  The shares were issued at an average of
$0.000485 per share.  The issuance of the shares constitutes
18.659% of the Company's issued and outstanding shares based on
187,258,757 shares issued and outstanding as of Jan. 30, 2015.

                        About ERF Wireless

Based in League City, Texas, ERF Wireless, Inc., provides secure,
high-capacity wireless products and services to a broad spectrum of
customers in primarily underserved, rural and suburban parts of the
United States.

ERF Wireless reported a net loss attributable to the company of
$7.26 million in 2013, a net loss of $4.81 million in 2012, and a
net loss of $3.37 million in 2011.

As of Sept. 30, 2014, the Company had $3.59 million in total
assets, $10.4 million in liabilities, and a $6.84 million
shareholders' deficit.


EXIDE TECHNOLOGIES: Court Approves POR Disclosure Statement
-----------------------------------------------------------
Exide Technologies on Feb. 4 disclosed that the U.S. Bankruptcy
Court for the District of Delaware approved the adequacy of the
Company's disclosure statement with respect to its Plan of
Reorganization ("POR").  With the Court's authorization, Exide will
promptly commence the process of soliciting approval of the POR.
The hearing to confirm the POR is scheduled for March 27, 2015.

The POR, which is supported by two of the Company's principal
creditor constituencies -- the official committee of unsecured
creditors (the "UCC") and certain members of the unofficial
committee of senior secured noteholders (the "UNC") -- contemplates
significant improvement to the Company's balance sheet by, among
other things, deleveraging the Company by approximately $600
million.

The Bankruptcy Court also approved the related Second Amended Plan
Support Agreement, Backstop Commitment Agreement, Rights Offering
Procedures, and a tripartite global settlement agreement entered
into with the UCC and certain members of the UNC (the "Settlement
Agreement").  Under the Settlement Agreement, the UCC agreed, among
other things, to affirmatively support confirmation of the POR. As
previously announced, the Exide Second Amended Plan Support
Agreement provides the Company with support for its POR from
holders of a majority of the principal amount of Exide's senior
secured notes.  Moreover, certain of those holders, through the
Backstop Commitment Agreement, have committed to backstop up to
$160 million of second lien convertible notes to be offered
pursuant to a $175 million rights offering.

"This is a significant and meaningful step forward on the Company's
path toward a consensual plan confirmation process and intended
emergence from Chapter 11 by March 31, 2015," said Robert M.
Caruso, President and Chief Executive Officer of Exide
Technologies.  "I thank our customers and suppliers for standing by
us during the Chapter 11 process and acknowledge our employees for
their hard work as we focus on the completion of our restructuring
and begin a new era for Exide as a better capitalized Company
positioned for growth."  

Bankruptcy Court filings, including the orders approving the
Disclosure Statement, the Second Amended Plan Support Agreement,
the Backstop Commitment Agreement, the Rights Offering Procedures,
and the Settlement Agreement are available at
http://www.exiderestructures.com/

Interested parties may direct questions about the Exide bankruptcy
using the following toll-free numbers: 888.985.9831 for U.S.
suppliers or 855.291.0287 for all other groups.

                     About Exide Technologies

Headquartered in Princeton, New Jersey, Exide Technologies (NASDAQ:
XIDE) -- http://www.exide.com/-- manufactures and   distributes
lead acid batteries and other related electrical energy storage
products.

Exide first sought Chapter 11 protection (Bankr. Del. Case No.
02-11125) on April 14, 2002 and exited bankruptcy two years after.

Matthew N. Kleiman, Esq., and Kirk A. Kennedy, Esq., at Kirkland &
Ellis, and James E. O'Neill, Esq., at Pachulski Stang Ziehl & Jones
LLP represented the Debtors in their successful restructuring.

Exide returned to Chapter 11 bankruptcy (Bankr. D. Del. Case No.
13-11482) on June 10, 2013.  Exide disclosed $1.89 billion in
assets and $1.14 billion in liabilities as of March 31, 2013.

Exide's international operations were not included in the filing
and will continue their business operations without supervision
from the U.S. courts.

For the new case, Exide has tapped Anthony W. Clark, Esq., at
Skadden, Arps, Slate, Meagher & Flom LLP, and Pachulski Stang Ziehl
& Jones LLP as counsel; Alvarez & Marsal as financial advisor;
Sitrick and Company Inc. as public relations consultant and GCG as
claims agent.  Schnader Harrison Segal & Lewis LLP was tapped as
special counsel.

The Official Committee of Unsecured Creditors is represented by
Lowenstein Sandler LLP and Morris, Nichols, Arsht & Tunnell LLP as
co-counsel.  Zolfo Cooper, LLC serves as its bankruptcy consultants
and financial advisors.  Geosyntec Consultants was tapped as
environmental consultants to the Committee.

Robert J. Keach of the law firm Bernstein Shur as fee examiner has
been appointed as fee examiner.  He has hired his own firm as
counsel.

                            *     *     *

In November 2014, the Bankruptcy Court terminated Exide's exclusive
period to propose a Chapter 11 plan.  The Court ordered that any
party-in-interest, including the Official Committee of Unsecured
creditors may file and solicit acceptance of a Chapter 11 Plan.

Exide already has a plan of reorganization in place. Under that
Plan, (a) Reorganized Exide's debt at emergence will comprise: (i)
an estimated $225 million Exit ABL Revolver Facility; (ii) $264.1
million of New First Lien High Yield Notes; (iii) $283.8 million of
New Second Lien Convertible Notes.  The Debtor's non-debtor
European subsidiaries are also expected to have approximately $23
million; (b) The New Second Lien Convertible Notes will be
convertible into 80% of the New Exide Common Stock on a fully
diluted basis; and (c) New Exide Common Stock would be allocated as
follows: 15.0% to Holders of Senior Secured Note Claims after
conversion of the New Second Lien Convertible Notes into New Exide
Common Stock; 3.0% on account of the DIP/Second Lien Conversion
Funding Fee; and 2.0% on account of the DIP/Second Lien Backstop
Commitment Fee.

Exide has entered into an amended and restated plan support
agreement with holders of a majority of the principal amount of its
senior secured notes.

A full-text copy of the Disclosure Statement dated Nov. 17, 2014,
is available at http://bankrupt.com/misc/EXIDEds1117.pdf          

In December 2014, Judge Kevin Carey denied the request of Exide
shareholders for appointment of an official equity holders'
committee.  The shareholders have objected to the Plan.


EXIDE TECHNOLOGIES: Plan Outline OK'd; Hearing Set for March 27
---------------------------------------------------------------
Judge Kevin J. Carey of the U.S. Bankruptcy Court for the District
of Delaware on Feb. 7, 2015, approved the disclosure statement
explaining Exide Technologies' reorganization plan and scheduled
the confirmation hearing to be held on March 27, 2015, at 10:00
a.m. (prevailing Eastern time).

Any objections to the confirmation of the Plan must be submitted on
or before March 11.  In order for the votes of holders of claims in
the voting classes to accept or reject the plan to be counted, they
must be delivered so as to be actually received on or before March
16.

As previously reported by the Troubled Company Reporter, Exide
Technologies on Jan. 30, 2015, amended its plan of reorganization
to provide that the plan is based on (i) a plan support agreement
among the company and the holders of a majority of the outstanding
principal amount of senior notes and (ii) a settlement between the
company, the unofficial noteholders' committee, and the Official
Committee of Unsecured Creditors.

To address the objections to the Disclosure Statement, including
the objections raised by Frank Smith and Michael Nelson and Andrew
R. Vara, the Acting U.S. Trustee for Region 3, the Debtor modified
the Disclosure Statement to adde in (a) specific treatment for
General Unsecured Creditors, (b) descriptions of the Alternative
Distribution Cash and the Senior Notes Alternative Distribution
Deferred Payments for holders of Senior Notes that are not
accredited investors or qualified institutional buyers, and (c)
proposed treatment for holders of Vernon Tort Claims.  The Debtor
tells the Court that there are three remaining unresolved
objections although the Debtor maintains that these objections fail
to establish that the Plan is unconfirmable on its face.
The Unofficial Noteholder Committee, which is composed of the
8-5/8% Senior Secured Notes due 2018 issued by Exide Technologies
in the initial aggregate principal amount of $675 million, tells
the Court that the Debtor, with the recent settlement with the
noteholders' group and the Creditors' Committee, is now poised to
emerge from bankruptcy.  The settlement, according to the
noteholders' group, resolves its outstanding issues with respect to
the Debtor's plan and future course of the proceeding.

Reorganized Exide's debt at emergence will comprise: (i)
an estimated $225 million Exit ABL Revolver Facility; (ii)
$264 million of New First Lien High Yield Notes; (iii) $284 million
of New Second Lien Convertible Notes; and (iv) no greater than $9
million of Senior Notes Alternative Distribution Deferred
Payments.
The Debtor's non-debtor European subsidiaries are also expected to
have approximately $23 million in local European debt at the time
of the Debtor's emergence from Chapter 11.

The New Second Lien Convertible Notes will be convertible into 80%
of the New Exide Common Stock on a fully diluted basis.  In
addition, New Exide Common Stock would be further allocated as
follows:

   -- 10.0% to Holders of Senior Secured Note Claims after
      conversion of the New Second Lien Convertible Notes into New
      Exide Common Stock;

   -- 5.0% to the Backstop Parties;

   -- 3.0% on account of the DIP/Second Lien Conversion Funding
      Fee; and

   -- 2.0% on account of the DIP/Second Lien Backstop Commitment
      Fee.

Holders of Senior Notes Claims that are Eligible Holders will be
offered the right to purchase $175 million of New Second Lien
Convertible Notes.  Pursuant to the Plan Support Agreement, certain
Consenting Creditors entered into an agreement to backstop $160
million of the New Money Investment.

Judge Carey, together with the approval of the Disclosure
Statement, also authorized Exide Technologies to enter into a plan
support agreement and backstop commitment agreement and approved
rights offering and distribution procedures.

The GUC Settlement contemplates the establishment of a general
unsecured claims trust under the Plan.  The GUC Trust would be
seeded with $3 million in funding -- funding the Reorganized Debtor
could recoup only from preference action recoveries -- and
functions as a vehicle to distribute potential value from (i)
transactions to monetize intellectual property assets and (ii)
recoveries from causes of actions, to holders of (y) general
unsecured claims other than certain personal injury claims related
to the Debtor's Vernon facility and (z) the senior secured notes
unsecured deficiency claim.

The GUC Settlement also contemplates payment of certain
professional fees pursuant to the Plan, continuation of the
Debtor's defined benefit pension plan, assumption of collective
bargaining agreements, as well as for other administrative matters
from composition of the GUC Trust's board to claims administration
responsibilities.

Andrew R. Vara, Acting U.S. Trustee for Region 3, objected to the
GUC Settlement, complaining that the Settlement Motion does not set
forth any information explaining or justifying the Creditors'
Committee's actions in negotiating away the rights of holders of
Senior Notes Deficiency Claims in favor of holders of other General
Unsecured Claims, nor does it explain or justify the Committee's
failure to represent the interests of holders of Vernon Tort Claims
-- whose filed claims make them one of the largest unsecured
creditor constituencies in Exide Technologies' case.

A full-text copy of the Amended Disclosure Statement dated
Jan. 30, 2015, is available at
http://bankrupt.com/misc/EXIDEds0130.pdf

A full-text copy of the Amended Disclosure Statement dated Feb. 5,
2015, is available at http://bankrupt.com/misc/EXIDEds0205.pdf

                    About Exide Technologies

Headquartered in Princeton, New Jersey, Exide Technologies (NASDAQ:
XIDE) -- http://www.exide.com/-- manufactures and   distributes
lead acid batteries and other related electrical energy storage
products.

Exide first sought Chapter 11 protection (Bankr. Del. Case No.
02-11125) on April 14, 2002 and exited bankruptcy two years after.

Matthew N. Kleiman, Esq., and Kirk A. Kennedy, Esq., at Kirkland &
Ellis, and James E. O'Neill, Esq., at Pachulski Stang Ziehl & Jones
LLP represented the Debtors in their successful restructuring.

Exide returned to Chapter 11 bankruptcy (Bankr. D. Del. Case No.
13-11482) on June 10, 2013.  Exide disclosed $1.89 billion in
assets and $1.14 billion in liabilities as of March 31, 2013.

Exide's international operations were not included in the filing
and will continue their business operations without supervision
from the U.S. courts.

For the new case, Exide has tapped Anthony W. Clark, Esq., at
Skadden, Arps, Slate, Meagher & Flom LLP, and Pachulski Stang
Ziehl
& Jones LLP as counsel; Alvarez & Marsal as financial advisor;
Sitrick and Company Inc. as public relations consultant and GCG as
claims agent.  Schnader Harrison Segal & Lewis LLP was tapped as
special counsel.

The Official Committee of Unsecured Creditors is represented by
Lowenstein Sandler LLP and Morris, Nichols, Arsht & Tunnell LLP as
co-counsel.  Zolfo Cooper, LLC serves as its bankruptcy consultants
and financial advisors.  Geosyntec Consultants was tapped as
environmental consultants to the Committee.

Robert J. Keach of the law firm Bernstein Shur as fee examiner has
been appointed as fee examiner.  He has hired his own firm as
counsel.

                            *     *     *

In November 2014, the Bankruptcy Court terminated Exide's exclusive
period to propose a Chapter 11 plan.  The Court ordered that any
party-in-interest, including the Official Committee of Unsecured
creditors may file and solicit acceptance of a Chapter 11 Plan.

Exide already has a plan of reorganization in place. Under that
Plan, (a) Reorganized Exide's debt at emergence will comprise: (i)
an estimated $225 million Exit ABL Revolver Facility; (ii) $264.1
million of New First Lien High Yield Notes; (iii) $283.8 million
of
New Second Lien Convertible Notes.  The Debtor's non-debtor
European subsidiaries are also expected to have approximately $23
million; (b) The New Second Lien Convertible Notes will be
convertible into 80% of the New Exide Common Stock on a fully
diluted basis; and (c) New Exide Common Stock would be allocated
as
follows: 15.0% to Holders of Senior Secured Note Claims after
conversion of the New Second Lien Convertible Notes into New Exide
Common Stock; 3.0% on account of the DIP/Second Lien Conversion
Funding Fee; and 2.0% on account of the DIP/Second Lien Backstop
Commitment Fee.

Exide has entered into an amended and restated plan support
agreement with holders of a majority of the principal amount of
its
senior secured notes.

A full-text copy of the Disclosure Statement dated Nov. 17, 2014,
is available at http://bankrupt.com/misc/EXIDEds1117.pdf         

In December 2014, Judge Kevin Carey denied the request of Exide
shareholders for appointment of an official equity holders'
committee.  The shareholders have objected to the Plan.



FINJAN HOLDINGS: Cisco Systems Reports 7.5% Stake as of Dec. 31
---------------------------------------------------------------
Cisco Systems, Inc., disclosed in an amended regulatory filing with
the U.S. Securities and Exchange Commission that as of
Dec. 31, 2014, it beneficially owned 1,688,429 shares of common
stock of Finjan Holdings, Inc., representing 7.5 percent of the
shares outstanding.  The percentage is based on 22,443,552 shares
of Issuer's issued and outstanding common stock as of Nov. 5, 2014,
as set forth in its quarterly report on Form 10-Q, filed with the
SEC on Nov. 10, 2014.  A copy of the regulatory filing is available
for free at http://is.gd/ZiQOhT

                            About Finjan

Finjan, formerly known as Converted Organics, is a leading online
security and technology company which owns a portfolio of patents,
related to software that proactively detects malicious code and
thereby protects end-users from identity and data theft, spyware,
malware, phishing, trojans and other online threats.  Founded in
1997, Finjan is one of the first companies to develop and patent
technology and software that is capable of detecting previously
unknown and emerging threats on a real-time, behavior-based basis,
in contrast to signature-based methods of intercepting only known
threats to computers, which were previously standard in the online
security industry.

Finjan Holdings reported a net loss of $6.07 million in 2013
following net income of $51 million in 2012.  The Company
reported a net loss of $2 million on $175,000 of revenues for the
three months ended March 31, 2014.

The Company's balance sheet at Sept. 30, 2014, showed $26.1
million in total assets, $2.70 million in total liabilities and
$23.4 million in total stockholders' equity.


FLYING STAR: Accuses Former Executives of Financial Improprieties
-----------------------------------------------------------------
Jessica Dyer at Albuquerque Journal reports that Flying Star Cafes,
Inc., is accusing (i) former COO Clyde Harrington of giving himself
unauthorized bonuses, using the company credit card for personal
charges, and failing to pay vendors; and (ii) former CFO Donna D.
Schmidt of allowing Mr. Harrington's behavior.

The Company and its co-owners, Jean and Mark Bernstein, says
Albuquerque Journal, also accuse the two former executives of
misrepresenting a $440,000 company loan as a line of credit and
tried to sell the Company for their own profit.

The former executives deny all of the Company's claims, Albuquerque
Journal says, citing Christopher Moody, Esq., the attorney for Mr.
Harrington and Ms. Schmidt.  The report quoted him as saying, "We
have asked for documentation from Flying Star that would
substantiate or go toward substantiating those allegations and they
have declined to produce any documents, so what does that tell
you?"

According to Albuquerque Journal, the Company's accusations came as
a response and counterclaim to a lawsuit that the former executives
initiated against Ms. Bernstein.  Albuquerque Journal recalls that
the Company fired the two executives last year.  Mr. Harrington and
Ms. Schmidt, the report says, sued Ms. Bernstein for allegedly
falsely citing "cause as the basis of the termination" so the
Company wouldn't have to pay them stock options worth hundreds of
thousands of dollars.

Albuquerque Journal reports that the Company responded, claiming
that Mr. Harrington: (i) forced company accountants "to make
changes to financial statements and budgets so he could pay himself
unauthorized bonuses, raises and the charges to the Flying Star
credit card"; (ii) breached his fiduciary duty by not paying
vendors and meeting other financial obligations; and (iii)
endangered "bank forbearance agreements and (submitted) manipulated
financial statements to banking institutions."

The Bernsteins' counterclaim, Albuquerque Journal relates, accused
the former executives of taking out a $440,000 line of credit
through American Express to fund company operations and "led Jean
Bernstein to believe that no interest would be accrued until the
money was used."  The line of credit turned out to be a loan on
which the Company was obligated to pay interest, and the interest
rate was approximately 30%, Albuquerque Journal states.  According
to the report, the Bernsteins claim that the former executives told
potential investors that the Company was for sale "and attempted to
broker a deal in which Flying Star would be sold and they would
profit from the sale," and removed company computers "to destroy,
mutilate or significantly alter the information contained on those
computers."

According to Albuquerque Journal, both sides are seeking
unspecified damages and the costs of the lawsuit.

The lawsuit was unrelated to the Company's bankruptcy filing and it
was not a factor in the bankruptcy, Albuquerque says, citing Ms.
Bernstein.

                         About Flying Star

Headquartered in Albuquerque, New Mexico, Flying Star Cafes, Inc.,
a NM corporation -- dba Flying Star, dba Rio Chan Foods, LLC, aka
Flying Star Commissary, dba Flying Star Foods, LLC, aka Flying
Star/Satellite Coffee, aka Flying Star Foods – operated nine
restaurants, as well as eight Satellite Coffee shops.  The Company
also has a food production business, Rio Chan, that supplies
outside customers.

Flying Star Cafes, Inc., a NM corporation, filed for Chapter 11
bankruptcy protection (Bankr. D. N.M. Case No. 15-10182) on Jan.
30, 2015, estimating its assets and liabilities at between $1
million and $10 million each.  The petition was signed by Jean
Bernstein, president/CEO.

Judge David T. Thuma presides over the case.

Daniel J Behles, Esq., Arin Elizabeth Berkson, Esq., Bonnie Bassan
Gandarilla, Esq., George M Moore, Esq., and Koo Im Sakayo Tong,
Esq., at Moore, Berkson, & Gandarilla, P.C., serve as the Debtor's
bankruptcy counsel.


FLYING STAR: Files for Chapter 11, To Close Two Stores
------------------------------------------------------
Flying Star Cafes, Inc., a NM corporation, filed for Chapter 11
bankruptcy protection (Bankr. D. N.M. Case No. 15-10182) on Jan.
30, 2015, estimating its assets and liabilities at between $1
million and $10 million each.  The petition was signed by Jean
Bernstein, president/CEO.

Citing Chris Cervini, Esq., the attorney for Ms. Bernstein, Damon
Scott at Albuquerque Business First reports that the Company is
closing two of its locations as part of the bankruptcy filing.

Business First quoted Ms. Bernstein as saying, "It saddens me to
announce we are closing our locations in Santa Fe and Bernalillo
effective immediately.  We worked very hard to try and keep these
restaurants open, but because of this challenging economic
environment, we made a decision that was in the best interest of
the entire company.  All Albuquerque Flying Star Cafe and Satellite
Coffee locations remain open and are on solid footing.  This move
will allow us to focus on our Albuquerque customers who have come
to expect the highest quality of food, friendly service and
welcoming environments . . . .  We are able to relocate some of our
staff from the two closing locations into our Albuquerque cafes
where possible.  The bottom line is the two locations we are
closing were not contributing to the overall health of the
Company."

The closure, Richard Metcalf and Mark Oswald at Albuquerque Journal
relates, was also due to the cost of the long-term leases to rent
the properties.  According to a court filing, the Company owes more
than $6.2 million to its top 20 creditors, of which more than $4.5
million was owed on the Bernalillo and Santa Fe locations.

Albuquerque Journal states that while some of the workers in the
two locations to be closed are expected to take jobs at one of the
remaining five locations in Albuquerque, and one each in Los
Ranchos de Albuquerque and Corrales, Ms. Bernstein said that 39 to
45 employees will be laid off, leaving the Company with 428
workers.
  
Judge David T. Thuma presides over the case.

Daniel J Behles, Esq., Arin Elizabeth Berkson, Esq., Bonnie Bassan
Gandarilla, Esq., George M Moore, Esq., and Koo Im Sakayo Tong,
Esq., at Moore, Berkson, & Gandarilla, P.C., serve as the Debtor's
bankruptcy counsel.

Headquartered in Albuquerque, New Mexico, Flying Star Cafes, Inc.,
a NM corporation -- dba Flying Star, dba Rio Chan Foods, LLC, aka
Flying Star Commissary, dba Flying Star Foods, LLC, aka Flying
Star/Satellite Coffee, aka Flying Star Foods – operated nine
restaurants, as well as eight Satellite Coffee shops.  The Company
also has a food production business, Rio Chan, that supplies
outside customers.


FORTESCUE METALS: Bank Debt Trades at 12% Off
---------------------------------------------
Participations in a syndicated loan under which Fortescue Metals
Group Ltd is a borrower traded in the secondary market at 87.75
cents-on-the-dollar during the week ended Friday, Feb. 6, 2015,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in The Wall Street Journal.  This represents a decrease of
1.55 percentage points from the previous week, The Journal relates.
The Company pays 325 basis points above LIBOR to borrow under the
facility.  The bank loan matures on June 13, 2019, and carries
Moody's Baa3 rating and Standard & Poor's BBB rating.  The loan is
one of the biggest gainers and losers among widely-quoted
syndicated loans in secondary trading in the week ended Friday
among the 197 loans with five or more bids. All loans listed are
B-term, or sold to institutional investors.



FOUNDATION HEALTHCARE: Amends 3 Million Units Prospectus
--------------------------------------------------------
Foundation Healthcare, Inc., has amended its Form S-1 registration
statement with the U.S. Securities and Exchange Commission relating
to the offering of 3,000,000 units at a yet to be determined price
per Unit, with each Unit consisting of one share of the Company's
common stock and one warrant to purchase 0.5 of one share of the
Company's common stock at an exercise price of $ [   ] per Warrant
Share.

Eighty-five percent of the Shares included in the Units and of the
Warrant Shares acquirable upon exercise of the Warrants will be
newly issued shares of the Company's common stock offered by the
Company and 15% will be existing shares of the Company's common
stock offered by the selling stockholders.  The Company will not
receive any of the proceeds from the sale of the Shares or Warrant
Shares acquirable upon exercise of the Warrants being sold by the
selling stockholders.  The Warrants will expire on [    ], 2018.
The Shares and the Warrants are immediately separable and will be
issued separately.  No fractional Warrants will be issued.

The Company's common stock is quoted on the OTCQB marketplace under
the symbol "FDNHD" until approximately Feb. 6, 2015, as the result
of the Company's Reverse Split.  Beginning on or around Feb. 9,
2015, the Company's common stock will resume trading on the OTCQB
marketplace under the symbol "FDNH."  On Jan. 8, 2015, the Company
effected a 1-for-10 reverse stock split of its outstanding common
stock.  The last reported sale price of the Company's common stock
on the OTCQB on Feb. 5, 2015, was $4.00 per share.  There is no
established public trading market for the Warrants, and the Company
does not expect a market to develop.  In addition, the Company does
not intend to apply for listing of the Warrants on any national
securities exchange or other nationally recognized trading system.


A full-text copy of the Form S-1/A is available for free at:

                        http://is.gd/D9sWNL

                     About Foundation Healthcare

Oklahoma-based Foundation Healthcare is a healthcare services
company primarily focused on owning controlling interests in
surgical hospitals and the inclusion of ancillary service lines.
The Company currently owns controlling and noncontrolling
interests in surgical hospitals located in Texas.  The Company
also owns noncontrolling interests in ambulatory surgery centers
("ASCs") located in Texas, Oklahoma, Pennsylvania, New Jersey,
Maryland and Ohio.

Additionally, the Company provides sleep testing management
services to various rural hospitals in Iowa, Minnesota, Missouri,
Nebraska and South Dakota under management contracts with the
hospitals.  The Company provides management services to a majority
of its Affiliates under the terms of various management
agreements.  Prior to Dec. 2, 2013, the Company's name was
Graymark Healthcare, Inc.

Foundation Healthcare reported a net loss attributable to
Foundation Healthcare common stock of $20.4 million on $93.1
million of revenues for the year ended Dec. 31, 2013, as compared
with net income attributable to Foundation Healthcare common stock
of $2.45 million on $53 million of revenues in 2012.

Hein & Associates LLP, in Denver, Colorado, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2013.  The independent auditors noted
that the Company had insufficient working capital as of Dec. 31,
2013, to fund anticipated working capital needs over the next
twelve months.  These conditions raise substantial doubt about the
Company's ability to continue as a going concern.


FREESEAS INC: Sold $500,000 Convertible Note to Himmil
------------------------------------------------------
FreeSeas Inc. entered into a securities purchase agreement with
Himmil Investments Ltd. on Feb. 5, 2015, pursuant to which, the
Company sold a $500,000 principal amount convertible note to the
Investor for gross proceeds of $500,000.

According to a regulatory filing with the U.S. Securities and
Exchange Commission, the Note will mature on the one year
anniversary of the Closing Date and will bear interest at the rate
of 8% per annum, which will be payable on the maturity date or any
redemption date and may be paid, in certain conditions, through the
issuance of shares, at the discretion of the Company.

The Note will be convertible into shares of the Company's common
stock, par value $0.001 per share at a conversion price equal to
the lesser of (i) $0.62 and (ii) 60% of the lowest volume weighted
average price of the Common Stock during the 21 trading days prior
to the conversion date.

If an event of default under the Notes occurs, upon the request of
the holder of the Note, the Company will be required to redeem all
or any portion of the Note (including all accrued and unpaid
interest), in cash, at a price equal to the greater of (i) up to
127.5% of the amount being converted, depending on the nature of
the default, and (ii) the product of (a) the number of shares of
Common Stock issuable upon conversion of the Note, times (b) 127.5%
of the highest closing sale price of the Common Stock during the
period beginning on the date immediately preceding such event of
default and ending on the trading day that the redemption price is
paid by the Company.

The Company has the right, at any time, to redeem all, but not less
than all, of the outstanding Note, upon not less than 30 days nor
more than 90 days prior written notice.  The redemption price shall
equal 127.5% of the amount of principal and interest being
redeemed.

                        About FreeSeas Inc.

Headquartered in Athens, Greece, FreeSeas Inc., formerly known as
Adventure Holdings S.A., was incorporated in the Marshall Islands
on April 23, 2004, for the purpose of being the ultimate holding
company of ship-owning companies.  The management of FreeSeas'
vessels is performed by Free Bulkers S.A., a Marshall Islands
company that is controlled by Ion G. Varouxakis, the Company's
Chairman, President and CEO, and one of the Company's principal
shareholders.

The Company's fleet consists of six Handysize vessels and one
Handymax vessel that carry a variety of drybulk commodities,
including iron ore, grain and coal, which are referred to as
"major bulks," as well as bauxite, phosphate, fertilizers, steel
products, cement, sugar and rice, or "minor bulks."  As of
Oct. 12, 2012, the aggregate dwt of the Company's operational
fleet is approximately 197,200 dwt and the average age of its
fleet is 15 years.

FreeSeas Inc. reported a net loss of US$48.7 million in 2013, a
net loss of US$30.88 million in 2012 and a net loss of US$88.2
million in 2011.  The Company's balance sheet at March 31, 2014,
showed US$79.8 million in total assets, US$77.4 million in total
liabilities, all current, and US$2.37 million in total
shareholders' equity.

RBSM LLP, in New York, issued a "going concern" qualification on
the consolidated financial statements for the year ended Dec. 31,
2013.  The independent auditors noted that the Company has
incurred recurring operating losses and has a working capital
deficiency.  In addition, the Company has failed to meet
scheduled payment obligations under its loan facilities and has
not complied with certain covenants included in its loan
agreements.  Furthermore, the vast majority of the Company's
assets are considered to be highly illiquid and if the Company
were forced to liquidate, the amount realized by the Company
could be substantially lower that the carrying value of these
assets.  These conditions among others raise substantial doubt
about the Company's ability to continue as a going concern.


FRONTIER COMMUNICATIONS: Moody's Affirms 'Ba3' Corp. Family Rating
------------------------------------------------------------------
Moody's Investors Service has affirmed Frontier Communications
Corporation's Ba3 Corporate Family Rating ("CFR") and Ba3-PD
Probability of Default Rating ("PDR") following the company's
announcement that it has agreed to acquire Verizon Communications,
Inc's local wireline assets in the states of Florida, Texas and
California. Frontier will pay approximately $10.5 billion for the
former GTE wireline operations. Moody's expects Frontier's free
cash flow profile to meaningfully improve following this
transaction. Moody's exects that leverage will rise temporarily,
but fall back towards 4x (Moody's adjusted) over a two year period
following deal close. As part of this rating action, Moody's has
also affirmed Frontier's SGL-1 speculative grade liquidity rating
and the Ba3 ratings on the existing senior unsecured notes. The
outlook remains stable.

Affirmations:

Issuer: Frontier Communications Corporation

  Corporate Family Rating (Local Currency), Affirmed Ba3

  Probability of Default Rating, Affirmed Ba3-PD

  Speculative Grade Liquidity Rating, Affirmed SGL-1

  Senior Unsecured Notes, Affirmed Ba3, LGD4

  Senior Unsecured Shelf, Affirmed (P)Ba3

Outlook Actions:

Issuer: Frontier Communications Corporation

  Outlook, Remains Stable

Issuer: New Communications Holdings Inc.

  Senior Unsecured Notes, Affirmed Ba3, LGD4

Ratings Rationale

Frontier's Ba3 CFR reflects its large scale of operations, its
strong and predictable cash flows and high margins. With this
transaction, Frontier will dramatically improve its scale and
acquire valuable assets that are strongly positioned versus the
incumbent cable competitors. The acquisition of the former GTE
properties from Verizon and the recent purchase of AT&T's
Connecticut assets will improve Frontier's asset base and increase
its triple-play (i.e. internet, video and voice) product
capabilities. These factors are offset by the company's challenged
competitive position versus cable operators in its legacy Frontier
territories, its weak revenue trend and the possibility that the
company may not have the discipline to continue to adequately
invest in network modernization. However, following this
transaction, the legacy Frontier properties will represent
approximately one-third of the pro forma company's total footprint.
Further, the cash flow increase from the acquired assets will
dramatically improve Frontier's financial flexibility to invest
into the network.

Moody's projects Frontier's leverage to be around 4.1x (Moody's
adjusted) at year end 2017 before falling modestly in 2018 assuming
debt repayment from operating cash flows. Moody's anticipates
around one-quarter of the transaction's purchase price will be
funded with capital which meets Moody's criteria as permanent
equity capital. If the final financing mix is materially different,
this could put pressure on Frontier's ratings.

The acquisition will double Frontier's size to over $11 billion in
revenues, adding nearly 6.1 million additional households and about
2.2 million additional broadband connections. Moody's expects
Frontier's consolidated revenue over the next several years to
remain approximately flat as the growth within the acquired Verizon
wireline properties offsets the low single digit percentage decline
at the legacy Frontier business. The Verizon acquisition is
positive to Frontier's cash flow profile given the high margins of
the acquired wireline business and the high penetration of FiOS
within the footprint resulting in favorable capital intensity.

Moody's believes that the acquisition will not result in high
execution risk. Frontier has the experience and capabilities to
successfully integrate the acquired assets and Frontier's
familiarity with the Verizon assets from its 2010 acquisition
further reduces the level of execution risk.

Lastly, Frontier has already assembled an integration team for the
Connecticut transaction, which can be redeployed for the Verizon
integration activity. Nevertheless, the implementation of two large
transactions in such a tight timeframe will consume management's
full attention for the next few years.

The ratings for the debt instruments reflect both the probability
of default of Frontier, on which Moody's maintains a PDR of Ba3-PD,
and individual loss given default assessments. Moody's currently
rates Frontier's senior unsecured debt at Ba3 (LGD4), in line with
the corporate family rating as the unsecured debt represents the
vast majority of the Company's debt obligations. If the company
uses a material amount of secured debt in the final financing
structure, this could impact the notching of the debt instruments
versus the Ba3 family rating.

The stable outlook is based upon Moody's view that Frontier will
successfully integrate the acquired assets, maintain stable margins
and produce free cash flow after dividends of about 2-3% of total
debt. The outlook also assumes that Frontier will repay debt at
maturity with operating cash flows for the next two to three
years.

Moody's could raise Frontier's ratings if leverage were to be
sustained comfortably below 3.75x Moody's adjusted) and free cash
flow to debt were in the mid single digits percentage range.
Moody's could lower Frontier's ratings if leverage were to exceed
4.25x (Moody's adjusted) or free cash flow turns negative, on a
sustained basis. Also, the ratings could be lowered if the
company's liquidity becomes strained or if capital spending is
reduced below the level required to sustain the company's market
position.

Frontier Communications Company is an Incumbent Local Exchange
Carrier ("ILEC") headquartered in Stamford, CT. For the last twelve
month ended September 30, 2014, the company generated $4.6 billion
of revenue.

The principal methodology used in these ratings was Global
Telecommunications Industry published in December 2010. Other
methodologies used include Loss Given Default for Speculative-Grade
Non-Financial Companies in the U.S., Canada and EMEA published in
June 2009.



FRONTIER COMMUNICATIONS: S&P Affirms 'BB-' CCR; Outlook Stable
--------------------------------------------------------------
Standard & Poor's Ratings Services said it affirmed its
'BB-'corporate credit rating on Stamford, Conn.-based incumbent
telephone provider Frontier Communications Corp.  The outlook is
stable.

"The affirmation follows the company's announcement that it entered
into an agreement to acquire certain wireline assets in California,
Texas, and Florida from Verizon Communications Inc. in a
transaction valued at about $10.5 billion, including the assumption
of $600 million of Verizon debt," said Standard & Poor's credit
analyst Allyn Arden.

The existing 'BB-' issue-level rating and '3' recovery ratings on
Frontier's existing senior unsecured debt are unchanged.  S&P will
make a final determination on the issue-level and recovery ratings
once funding for the transaction has been determined.

"The ratings affirmation reflects our view that despite a small
increase in leverage to around 4.1x pro forma from our current base
case forecast of about 3.8x EBITDA for 2015, we believe the
acquisition offers some business benefits and significant potential
cost synergies of around $700 million, the majority of which
consist of expenses allocated by Verizon to the acquired assets
that can be achieved when the transaction closes.  Moreover, the
acquisition will increase Frontier's exposure to fiber-based
"triple play" services, which we believe is critical for customer
retention longer term.  While these properties have FiOS
availability in about 53% of the service area, video penetration is
already high at about 37%, offering little room for growth
opportunities," S&P said.

"The acquisition will improve Frontier's scale and diversity,
virtually doubling the size of its revenue and customer base.  On a
pro forma basis, Frontier will have about 7.6 million voice
connections and 4.5 million broadband customers.  While we view the
addition of fiber-based video and broadband service as positive for
the overall business risk profile, it also weakens Frontier's
profitability.  We estimate that Frontier's pro forma EBITDA margin
is about 39%, lower than the 44% reported margin during the first
nine months of 2014.  Frontier's lack of scale in the video
business will also make it difficult to negotiate programming
contracts, which could hurt profitability longer term.
Additionally, we expect the company will continue to lose
high-margin voice access lines and regulated subsidy revenue, which
will contribute to overall margin pressure," S&P added.

The outlook on Frontier is stable.  S&P expects that Frontier will
generate sufficient discretionary cash flow to repay debt and
offset modest EBITDA declines, maintaining leverage in the low-4x
area.  Still, the dividend limits prospects for meaningful debt
reduction.

S&P could lower the ratings if operating conditions deteriorate in
the legacy Frontier markets or the acquired markets, the latter of
which could occur if customers defect and purchase services from
the incumbent cable operators due to integration missteps.  Revenue
and EBITDA could also decline more than anticipated if residential
customer losses accelerate or if revenue from business services
decline beyond S&P's expectations due to market share losses to
cable such that leverage rises to the high-4x area and DCF to debt
declines to below 2% on a sustained basis.

While S&P considers it unlikely in the near term, it could raise
the ratings if Frontier is successful in growing revenue in the
acquired Verizon markets in the high-single-digit percent area,
resulting in overall revenue and EBITDA growth while overachieving
on projected synergies.  Such a scenario would require meaningful
leverage reduction to the low-3x area on a sustained basis and
improvement in discretionary cash flow metrics.



GENCO SHIPPING: Dimensional Stake Down to 0% as of Dec. 31
----------------------------------------------------------
Dimensional Fund Advisors LP disclosed in a regulatory filing with
the U.S. Securities and Exchange Commission that as of Dec. 31,
2014, it has ceased to be the beneficial owner of any shares of
common stock of Genco Shipping & Trading Ltd.  Dimensional Fund is
an investment adviser registered under Section 203 of the
Investment Advisors Act of 1940 and serves as investment manager or
sub-adviser to certain other commingled funds, group trusts and
separate accounts.  A copy of the regulatory filing is available
for free at http://is.gd/4wX6sC

                     About Genco Shipping & Trading

New York-based Genco Shipping & Trading Limited (NYSE: GNK)
transports iron ore, coal, grain, steel products and other drybulk
cargoes along worldwide shipping routes.  Excluding Baltic Trading
Limited's fleet, Genco Shipping owns a fleet of 53 drybulk
vessels, consisting of nine Capesize, eight Panamax, 17 Supramax,
six Handymax and 13 Handysize vessels, with an aggregate carrying
capacity of approximately 3,810,000 dwt.  In addition, Genco
Shipping's subsidiary Baltic Trading Limited currently owns a
fleet of 13 drybulk vessels, consisting of four Capesize, four
Supramax, and five Handysize vessels.

Genco Shipping & Trading sought bankruptcy protection (Bankr.
S.D.N.Y. Lead Case No. 14-11108) on April 21, 2014, to implement a
prepackaged financial restructuring that is expected to reduce the
Company's total debt by $1.2 billion and enhance its financial
flexibility.  The company's subsidiaries other than Baltic Trading
Limited (and related entities) also sought bankruptcy protection.

Genco, owned and controlled by Peter Georgiopoulos, disclosed
assets of $2.448 billion and debt of $1.475 billion as of Feb. 28,
2014.

Adam C. Rogoff, Esq., and Anupama Yerramalli, Esq., at Kramer
Levin Naftalis & Frankel LLP serve as the Debtors' bankruptcy
counsel.  Blackstone Advisory Partners, L.P., is the financial
advisor.  GCG Inc. is the claims and notice agent.

Wilmington Trust, N.A., in its capacity as successor
administrative and collateral agent under a 2007 credit agreement,
is represented by Dennis Dunne, Esq., and Samuel Khalil, Esq., at
Milbank Tweed Hadley & McCloy LLP.

Credit Agricole Corporate & Investment Bank, as agent and security
trustee under an August 2010 Loan Agreement; Deutsche Bank
Luxembourg S.A., as agent, and Deutsche Bank AG Fillale
Deutschlandgeschaft, as security agent and bookrunner under the
August 2010 Loan Agreement, are represented by Alan Kornberg,
Esq., Sarah Harnett, Esq., and Elizabeth McColm, Esq., at Paul
Weiss Rifkind Wharton & Garrison LLP.  Paul Weiss also represents
the Pre-Petition $100 Million and $253 Million Credit Facilities.

The Bank of New York Mellon, the indenture trustee for Genco's
5.00% Convertible Senior Notes due Aug. 15, 2014, and the
informal group of 5.00% Convertible Senior Notes due August 15,
2014, are represented by Michael Stamer, Esq., and Sarah Link
Schultz, Esq., at Akin Gump Strauss Hauer & Feld LLP.  Akin Gump
also represents the Informal Convertible Noteholder Group.

Kirkland & Ellis LLP's Christopher J. Marcus, Esq., Paul M. Basta,
Esq., Eric F. Leon, Esq., represent for Och-Ziff Management LP.

Brown Rudnick LLP's William R. Baldiga, Esq., represents an Ad Hoc
Consortium of Equity Holders.

Orrick, Herrington & Sutcliffe LLP's Douglas S. Mintz, Esq.,
Washington, DC, represents Deutsche Bank as Pre-Petition Lender,
and Credit Agricole, Corporate Investment Bank, as Post-Petition
Bankruptcy Lender.

Dechert LLP's Allan S. Brilliant, Esq., represents the Entities
Managed by Aurelius Capital Management, LP.

The U.S. Trustee has appointed an Official Committee of Equity
Security Holders.  The Equity Committee members are (1) Aurelius
Capital Partners, LP; (2) Mohawk Capital LLC; and OZ Domestic
Partners, LP.  It is represented by Steven M. Bierman, Esq.,
Benjamin R. Nagin, Esq., Michael G. Burke, Esq., James F. Conlan,
Esq., and Larry J. Nyhan, Esq., at Sidley Austin LLP.

Genco had filed a motion to disband the Equity Committee,
complaining that it is unnecessary and wasteful of the estates'
resources.


GENERAL MOTORS: JPMorgan Seeks Review of Loan Ruling
----------------------------------------------------
Linda Sandler, writing for Bloomberg News, reported that JPMorgan
Chase & Co. asked an appeals to reconsider a negative ruling on its
$1.5 billion loan to General Motors Co.'s bankrupt predecessor,
saying the decision caused a "seismic" shift in the law.

According to the report, the bank's lawyers accidentally gave up
its rights to security for the loan and JPMorgan says it wants its
collateral back because the lawyers weren't authorized to act on
the deal.  The appeals court last month sided with GM’s
creditors, the report related.

The case is Official Committee of Unsecured Creditors of Motors
Liquidation Co. v. JPMorgan Chase Bank NA, 13-2187, U.S. Court of
Appeals for the Second Circuit (Manhattan).

                       About General Motors

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.

                        *     *     *

The Troubled Company Reporter, on Sep. 29, 2014, reported that
Standard & Poor's Ratings Services raised its corporate credit
rating on U.S. automaker General Motors Co. (GM) to 'BBB-' from
'BB+', and revised the outlook to stable from positive.  At the
same time, S&P raised its issue-level rating on GM's unsecured
debt to 'BBB-' from 'BB+' and simultaneously withdrew its '4'
recovery rating on that debt, because S&P do not assign recovery
ratings to the issues of investment-grade companies.

On Oct. 21, 2014, the TCR reported that Fitch Ratings has assigned
a rating of 'BB+' to GM's amended unsecured credit facilities.
Fitch currently rates GM's Issuer Default Rating (IDR) 'BB+'.  The
Rating Outlook is Positive.  Fitch has also affirmed and withdrawn
the 'BB+' IDR of GM's General Motors Holdings LLC (GM Holdings)
subsidiary, as there is no longer any rated debt at the
subsidiary,
and Fitch does not expect the subsidiary to be an active issuer
going forward.  Fitch has also withdrawn GM Holdings' unsecured
credit facility rating of 'BB+' as the subsidiary is no longer a
borrower on the facilities.

The TCR, on Nov. 6, 2014, reported that Fitch Ratings has assigned
a rating of 'BB+' to GM's proposed issuance of senior unsecured
notes.  The existing Issuer Default Rating (IDR) for GM is 'BB+'
and the Rating Outlook is Positive.


GFI GROUP: S&P Alters Implications on 'B' CCR to Developing
-----------------------------------------------------------
Standard & Poor's Ratings Services said that it has revised the
CreditWatch implications on its 'B' counterparty credit rating on
GFI Group Inc. to developing from negative.  At the same time, S&P
also revised the CreditWatch implications on its 'B' senior
unsecured rating on GFI Group to developing from positive.  Both
ratings had been placed on CreditWatch on July 30, 2014.

"The CreditWatch action follows GFI's announcement that it had
terminated its merger agreement with CME Group Inc. because its
shareholders did not approve the proposed merger.  At the same
time, GFI's board of directors announced that the firm would
explore strategic alternatives that offer the company's
shareholders maximum value for their investment," said Standard &
Poor's credit analyst Sebnem Caglayan.

As of Feb. 5, 2015, BGC Partners' (a wholly owned subsidiary of
Cantor Fitzgerald) all-cash tender offer to acquire all of the
outstanding common shares of GFI Group Inc. that it does not
currently own for $6.10 per share has been extended until Feb. 19,
2015.

If GFI is purchased in its entirety by a more creditworthy firm,
and that firm assumes the company's outstanding debt, S&P could
raise its ratings on GFI, including both its counterparty and
issue-level credit ratings.  Alternatively, if only a portion of
the firm is sold, such as its software businesses Trayport and
Fenics, and the remaining GFI Group's business risk profile is
significantly weakened due to the loss of diversity and a higher
dependence on transactional volumes, or if its financial risk
profile worsens due to increased leverage and a lack of tangible
equity, S&P could lower the ratings.  Furthermore, a sale to, or
merger with, a firm that is less creditworthy than GFI may also
result in a downgrade.

S&P will continue to analyze the impact of any strategic
alternatives the firm may announce over the next couple of months.
S&P expects to resolve its CreditWatch on GFI Group based on the
outcome of BGC's tender offer, or when S&P receives additional
clarity about the nature and financing of any strategic
alternatives the company may pursue.



GORDON PROPERTIES: March 3 Hearing on FOA Bid to Consolidate Estate
-------------------------------------------------------------------
The Bankruptcy Court continued until March 3, 2015, at 9:30 a.m.,
the hearing to consider First Owners' Association of Forty Six
Hundred Condominium, Inc.'s motion to consolidate the estates of
Gordon Properties, LLC, and Condominium Services, Inc.

On Jan. 5, the parties filed an agreed motion requesting
modification of the pretrial order dated Oct. 14, 2014, for the
limited purpose of extending the deadline for responding to
discovery, for filing and exchanging exhibits, and for filing
objections to exhibits.  In all other respects, the Pre-Trial Order
remains in effect.

                  About Gordon Properties, LLC

Alexandria, Va.-based Gordon Properties, LLC, owns 39 condominium
units in The 4600 Condominium, a high-rise apartment building with
both residential and commercial units.  Gordon Properties'
ownership of these condos represents about a 20% interest in the
Forty Six Hundred Condominium project -- http://foa4600.org/-- in

Alexandria.  Gordon also owns all of the equity of a subsidiary,
Condominium Services, Inc., which operates as a condominium
management company.

Gordon Properties is owned by related family members, Bryan Sells,
Mr. Sells' sister, Elizabeth Greenwell, and his cousins, Lindsay
Wilson and Julia Langdon.  The company was created in 2002 to take
title to the Condo Units which had been held in a trust that was
created under the will of Bryan Gordon following his death.  Bryan
Gordon was the grandfather of the four members of the Debtor.

Gordon Properties sought Chapter 11 protection (Bankr. E.D. Va.
Case No. 09-18086) on Oct. 2, 2009, and is represented by Donald
F. King, Esq., at Odin, Feldman & Pittleman PC in Fairfax, Va.
Gordon Properties disclosed $11.1 million in assets and $1.56
million in
liabilities.

Condominium Services filed its chapter 11 petition (Bankr. E.D.
Va. 10-10581) on Jan. 26, 2010.  It scheduled one creditor, the
condominium association, with a disputed claim of $436,802.
The association filed a proof of claim asserting a claim of
$453,533.  A second proof of claim was filed by the Internal
Revenue Service for $1,955.  According to its schedules, if
both claims are allowed, it has a net deficit of about $426,900.
CSI is wholly owned by Gordon Properties.

In February 2012, Judge Mayer denied the motion of the association
to substantively consolidate the chapter 11 bankruptcy cases of
Gordon Properties and Condominium Services, Inc., the condominium
management company.

Gordon Properties and CSI opposed the motion.  The two cases were
previously administratively consolidated.



GREYSTONE LOGISTICS: Int'l Bank of Commerce Waives Default
----------------------------------------------------------
International Bank of Commerce issued a letter waiving any default
or event of default arising solely from Greystone's failure to
maintain a debt service coverage ratio as of the Nov. 30, 2014,
testing date as required by the loan agreement between Greystone
and IBC dated as of Jan. 31, 2014, according to a regulatory filing
with the U.S. Securities and Exchange Commission.

                     About Greystone Logistics

Tulsa, Okla.-based Greystone Logistics, Inc. (OTC BB: GLGI.OB -
News) -- http://www.greystonelogistics.com/-- manufactures and
sells plastic pallets through its wholly owned subsidiary,
Greystone Manufacturing, LLC.  Greystone sells its pallets through
direct sales and a network of independent contractor distributors.
Greystone also sells its pallets and pallet leasing services to
certain large customers direct through its President, Senior Vice
President of Sales and Marketing and other employees.

As of Nov. 30, 2014, the Company had $14.4 million in total assets,
$16.2 million in total liabilities, and a $1.84 million total
deficit.


GROVE ESTATES: Can Use Susquehanna Cash Collateral Until March 1
----------------------------------------------------------------
The U.S, Bankruptcy Court approved a stipulation for Grove Estates,
L.P.'s interim use of cash collateral.

The Debtor and Susquehanna Bank entered into a stipulation that
provides that, among other things:

   1. The Bank holds a claim against the Debtor in the sum of $12.5
million as of the Petition Date.  The Bank claims, inter alia, a
valid first lien mortgage security interest on premises known as
2394 Arlington Street, York Township, York, PA, and 92.202-acre
tract along Queen Street, Dew Drop Road and Route 74, York
Township, PA; and all rents or income from the primary real
estate.

   2. The Debtor would use the cash collateral to maintain the
properties and to take care of normal maintenance for the
properties.

   3. As adequate protection of Bank's interest in cash collateral,
the Debtor will grant the Bank replacement liens in all categories
of assets of the Debtor's estate.

   4. The stipulation will terminate on March 1, 2015.

                       About Grove Estates

Grove Estates, LP, an operator of land development business in
York, Pennsylvania, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. M.D. Pa. Case No. 14-04368) on Sept. 23,
2014.  The case is assigned to Judge Robert N Opel II.

The Debtor's counsel is Robert L Knupp, Esq., at Smigel, Anderson
& Sacks, LLP, in Harrisburg, Pennsylvania.  The Debtor's
accountant is Francis C. Musso, CPA, MPA, P.C.

Grove Estates, LP, filed a disclosure statement in support of its
Reorganization Plan dated Oct. 31, 2014.  The Plan proposes to pay
creditors of Grove Estates, from exchange of property for debt,
sale of assets, and cash flow from future income.



GTA REALTY: Creditors Have Until March 5 to File Proofs of Claims
-----------------------------------------------------------------
The Bankruptcy Court established March 5, 2015 at 5:00 p.m., as the
deadline for any individual or entity to file proofs of claim
against GTA Realty II, LLC.  The Court also set April 6, 2015 at
5:00 p.m., as the bar date for governmental units.

                        About GTA Realty II

GTA Realty II, LLC, sought bankruptcy protection (Bankr. S.D.N.Y.
Case No. 14-12840) in Manhattan on Oct. 8, 2014.

In its schedules of assets and liabilities, the Debtor disclosed
$18 million in total assets and $7.26 million in liabilities.  The
Debtor owns real property at 184 Prince Street, New York, valued
at $6 million and a property at 287 Bleeker Street, New York,
valued at $12 million.   U.S. Bank National Association, owed $5.3
million, holds a first mortgage on the property.

The case is assigned to Judge Robert E. Gerber.

The Debtor is represented by Mark A. Frankel, Esq., at Backenroth
Frankel & Krinsky, LLP, in New York.

The Debtor's Chapter 11 plan and disclosure statement are due
Feb. 5, 2015.  The initial case conference is due by Nov. 7, 2014.

The Debtor has tapped Backenroth Frankel & Krinsky, LLP as
counsel.

The U.S. Trustee for Region 2 appointed three creditors to serve
on the official committee of unsecured creditors.



GTA REALTY: Plan Outline Hearing Adjourned Until Feb. 25
--------------------------------------------------------
The U.S. Bankruptcy Court adjourned until Feb. 25, 2015, at 9:45
a.m., the hearing to consider adequacy of information in the
Disclosure Statement explaining GTA Realty II, LLC's Plan of
Reorganization dated Dec. 5, 2014,

The Jan. 28 meeting was previously adjourned from Jan. 22.

At the hearing, the Court will also consider objections filed
against the Plan.

The Official Committee Of Unsecured Creditors, in its objection,
stated that the transactions set forth in the Plan have little
chance of coming to fruition, and the mechanics thereof are wholly
absent.  

The Plan provides for that the Debtor's two buildings would be
sold, and the proceeds would be sufficient to pay the secured
lender in full then all other creditors, including unsecured
creditors, in full, with interest, in cash.  

Rialto Capital Advisors, LLC, solely in its capacity as Special
Servicer for U.S. Bank National Association, as Trustee for the
Registered Holders of GS Mortgage Securities Corporation III
Commercial Mortgage Pass-Through Certificates, Series 2011-GC3,
objected to the Debtor's motion, stating that the Court must not
approve the Disclosure Statement for five reasons:

   1. The Debtor's Disclosure Statement describes a Plan that is
predicated upon a reinstatement of the Loan Documents followed by a
partial or full defeasance under the Loan Documents.

   2. The Plan is unconfirmable because it misapplies Section 1124
of the Bankruptcy Code.

   3. Material events of default will exist post-confirmation, the
Plan is also unconfirmable.

   4. The Plan seeks to have the Court exercise continued
post-confirmation jurisdiction over state-law contractual matters.

   5. Assuming that the loan can be reinstated and that the Court
can exercise jurisdiction or authority over the defeasance, the
Debtor fails to disclose adequate information concerning its
compliance with the defeasance provisions contained in the Loan
Agreement.

The Committee is represented by:

         Allen G. Kadish, Esq.
         DICONZA TRAURIG KADISH LLP
         630 Third Avenue
         New York, NY 10017
         Tel: (212) 682-4940
         Fax: (212) 682-4942
         E-mail: akadish@dtklawgroup.com

Rialto is represented by:

         William Hao, Esq.
         ALSTON & BIRD LLP
         90 Park Avenue
         New York, NY 10016
         Tel: (212) 210-9400
         Fax: (212) 210-9444

              - and -

         David A. Wender, Esq.
         One Atlantic Center
         1201 West Peachtree Street
         Atlanta, Georgia 30309-3424
         Tel: (404) 881-7000

                        About GTA Realty II

GTA Realty II, LLC, sought bankruptcy protection (Bankr. S.D.N.Y.
Case No. 14-12840) in Manhattan on Oct. 8, 2014.

In its schedules of assets and liabilities, the Debtor disclosed
$18 million in total assets and $7.26 million in liabilities.  The
Debtor owns real property at 184 Prince Street, New York, valued
at $6 million and a property at 287 Bleeker Street, New York,
valued at $12 million.   U.S. Bank National Association, owed $5.3
million, holds a first mortgage on the property.

The case is assigned to Judge Robert E. Gerber.

The Debtor is represented by Mark A. Frankel, Esq., at Backenroth
Frankel & Krinsky, LLP, in New York.

The Debtor has tapped Backenroth Frankel & Krinsky, LLP as
counsel.

The U.S. Trustee for Region 2 appointed three creditors to serve
on the official committee of unsecured creditors.


GTA REALTY: Receiver Taps Wenig Saltiel to Assess Tenancy Rights
----------------------------------------------------------------
GlassRatner Management & Realty Advisors, LLC, the receiver
appointed by order of the U.S. District Court, Southern District of
New York dated June 27, 2014, asks for permission to employ Wenig
Saltiel LLP as special counsel.

Wenig will render these services:

   a. defend two pending cases;

   b. assess the tenancy rights of occupants;

   c. commence evictions or other actions to collect rent and
secure possession; and

   d. perform legal research, as necessary, to assist the Receiver
in fulfilling its duties..

Wenig will be employed under a general retainer.  The hourly rates
of Wenig's personnel are:

         Partner                  $400
         Associate                $300

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

                        About GTA Realty II

GTA Realty II, LLC, sought bankruptcy protection (Bankr. S.D.N.Y.
Case No. 14-12840) in Manhattan on Oct. 8, 2014.

In its schedules of assets and liabilities, the Debtor disclosed
$18 million in total assets and $7.26 million in liabilities.  The
Debtor owns real property at 184 Prince Street, New York, valued
at $6 million and a property at 287 Bleeker Street, New York,
valued at $12 million.   U.S. Bank National Association, owed $5.3
million, holds a first mortgage on the property.

The case is assigned to Judge Robert E. Gerber.

The Debtor is represented by Mark A. Frankel, Esq., at Backenroth
Frankel & Krinsky, LLP, in New York.

The Debtor's Chapter 11 plan and disclosure statement are due
Feb. 5, 2015.  The initial case conference is due by Nov. 7, 2014.

The Debtor has tapped Backenroth Frankel & Krinsky, LLP as
counsel.

The U.S. Trustee for Region 2 appointed three creditors to serve
on the official committee of unsecured creditors.


GULF GUARANTY: A.M. Best Affirms 'B-(fair)' Finc'l Strength Rating
------------------------------------------------------------------
A.M. Best Co. has affirmed the financial strength rating of B-
(Fair) and the issuer credit ratings of "bb-" of Gulf Guaranty Life
Insurance Company (Gulf Guaranty Life) and its subsidiary, Gulf
Guaranty Insurance Company (Gulf Guaranty) (both domiciled in
Jackson, MS).  The outlook for all ratings is stable.
Concurrently, A.M. Best has withdrawn the ratings as the company
has requested to no longer participate in A.M. Best's interactive
rating process.

The ratings of Gulf Guaranty Life reflect poor and volatile
operating performance occurring in three out of the past five
years, including the first nine months of 2014.  Additionally, the
ratings reflect a narrow business profile concentrated in five
states, limited product diversification and a large proportion of
its investment portfolio concentrated within affiliated and
non-affiliated holdings.  Offsetting rating factors include
adequate but declining risk-adjusted capitalization and good credit
quality of its fixed income portfolio.

The ratings of Gulf Guaranty reflect the company's historically
poor operating performance driven by its extremely high expense
structure and the continuing challenges associated with its limited
geographic spread and product concentration.  Partially offsetting
these negative factors are Gulf Guaranty's low level of premium
leverage, which drives a strong level of risk-adjusted
capitalization, its historically favorable loss reserve development
patterns and stable investment profile.


HAMILTON SUNDSTRAND: Bank Debt Trades at 6% Off
-----------------------------------------------
Participations in a syndicated loan under which Hamilton
Sundstrand Industrial is a borrower traded in the secondary market
at 93.70 cents-on-the-dollar during the week ended Friday,
Feb. 6, 2015, according to data compiled by LSTA/Thomson
Reuters MTM Pricing and reported in The Wall Street Journal.  This
represents an increase of 1.08 percentage points from the previous
week, The Journal relates.  Hamilton Sundstrand Industrial pays
300 basis points above LIBOR to borrow under the facility.  The
bank loan matures on Dec. 10, 2019, and carries Moody's B1 rating
and Standard & Poor's B+ rating.  The loan is one of the biggest
gainers and losers among 197 widely quoted syndicated loans with
five or more bids in secondary trading for the week ended Friday.



HEALTHWAREHOUSE.COM INC: Todd Hixon No Longer a 5% Shareholder
--------------------------------------------------------------
New Atlantic Venture Fund III, L.P., Scott M. Johnson, Todd L.
Hixon disclosed in an amended regulatory filing with the U.S.
Securities and Exchange Commission that on Feb. 24, 2014, they
ceased to be the beneficial owner of more than 5% of
HealthWarehouse.com, Inc.'s shares of common stock outstanding.

As of that date, the Reporting Persons held 1,335,286 common shares
or 4.98 percent equity stake.  Todd Hixon, et al., previously owned
1,829,786 common shares or 6.83 percent equity stake at Dec. 13,
2013.

Between Jan. 4, 2014, and Feb. 24, 2014, the Reporting Persons sold
in the market an aggregate of 494,500 shares at which time their
obligations to continue to report on a Schedule 13D ceased.

A full-text copy of the regulatory filing is available at:

                        http://is.gd/atu3kH

                      About HealthWarehouse.com

HealthWarehouse.com, Inc., headquartered in Florence, Kentucky,
is a U.S. licensed virtual retail pharmacy ("VRP") and healthcare
e-commerce company that sells brand name and generic prescription
drugs as well as over-the-counter ("OTC") medical products.

Marcum LLP, in New York, issued a "going concern" qualification on
the consolidated financial statements for the year ended Dec. 31,
2013.  The independent auditors noted that the Company has
incurred significant losses and needs to raise additional funds to
meet its obligations and sustain its operations.  These conditions
raise substantial doubt about the Company's ability to continue as
a going concern, the auditors said.

Healthwarehouse.com Inc. reported a net loss attributable to
common stockholders of $7.30 million following a net loss
attributable to common stockholders of $6.26 million during the
prior year.

The Company's balance sheet at Sept. 30, 2014, showed
$2.19 million in total assets, $5.83 million in total liabilities,
and a $3.64 million in total stockholders' deficiency.

                        Bankruptcy Warning

"The Company recognizes it will need to raise additional capital
in order to meet its payment obligations... and execute its
business plan.  There is no assurance that additional financing
will be available when needed or that management will be able to
obtain financing on terms acceptable to the Company and whether
the Company will become profitable and generate positive operating
cash flow.  If the Company is unable to raise sufficient
additional funds, it will have to develop and implement a plan to
further extend payables, attempt to extend note repayments,
attempt to negotiate the preferred stock redemption and reduce
overhead until sufficient additional capital is raised to support
further operations.  There can be no assurance that such a plan
will be successful.  If the Company is unable to obtain financing
on a timely basis, the Company could be forced to sell its assets,
discontinue its operation and /or seek reorganization under the
U.S. bankruptcy code," the Company stated in its quarterly report
for the period ended Sept. 30, 2014.


HERCULES OFFSHORE: Dimensional Fund Reports 6% Stake as of Dec. 31
------------------------------------------------------------------
In an amended Schedule 13G filed with the U.S. Securities and
Exchange Commission, Dimensional Fund Advisors LP disclosed that as
of Dec. 31, 2014, it beneficially owned 10,579,996 shares of common
stock of Hercules Offshore representing 6.58 percent of the shares
outstanding.  A full-text copy of the regulatory filing is
available at http://is.gd/ble81S

                      About Hercules Offshore

Hercules Offshore Inc. (NASDAQ: HERO) --
http://www.herculesoffshore.com/-- provides shallow-water
drilling and marine services to the oil and natural gas
exploration and production industry in the United States, Gulf of
Mexico and internationally.  The Company provides these services
to integrated energy companies, independent oil and natural gas
operators and national oil companies.  The Company operates in six
business segments: Domestic Offshore, International Offshore,
Inland, Domestic Liftboats, International Liftboats and Delta
Towing.

Hercules incurred a net loss of $68.1 million in 2013, a net loss
of $127 million in 2012 and a net loss of $76.1 million in 2011.
As of Sept. 30, 2014, the Company had $2.19 billion in total
assets, $1.42 billion in total liabilities and $767 million in
stockholders' equity.

                           *     *     *

The Troubled Company Reporter reported on April 11, 2013, that
Moody's Investors Service upgraded Hercules Offshore's Corporate
Family Rating to 'B2' from 'B3'.  Hercules' B2 CFR is supported by
its improved cash flow and lower leverage on the back of increased
drilling activity and higher day-rates in the Gulf of Mexico.

As reported by the TCR on Dec. 30, 2014, S&P lowered its corporate
credit rating on Hercules Offshore Inc. to 'B-' from 'B'.  The
downgrade reflects S&P's estimate for increased leverage as a
result of lower day-rates and utilization for the company's
offshore rigs, both in the company's Domestic Offshore and
International Offshore segments.  S&P's estimates of lower
utilization and day-rates are a result of S&P's expectation of
decreased offshore drilling given lower oil prices.  S&P now
expects FFO to debt to be below 12% and debt to EBITDA to exceed 5x
in 2015.


HOSPIRA INC: Moody's Puts 'Ba1' CFR on Review for Upgrade
---------------------------------------------------------
Moody's Investors Service placed Hospira, Inc.'s ratings, including
its Ba1 Corporate Family Rating, on review for upgrade. The action
follows the announcement that Pfizer Inc. (A1 stable) plans to
acquire Hospira for $16 billion in cash plus the assumption of net
debt.

Ratings placed on review for upgrade:

Hospira, Inc.

  Corporate Family Rating at Ba1

  Probability of Default at Ba1-PD

  Senior unsecured notes at Ba1 (LGD 4)

  Senior unsecured shelf at (P)Ba1

Moody's rating review of Hospira will consider: (1) the benefits of
being part of a larger and more diversified entity; (2) where
Hospira's debt is ultimately held within Pfizer's capital
structure; and (3) what, if any, support mechanisms, including
guarantees, are provided to Hospira's bondholders.

Should Pfizer decide not to guarantee Hospira's debt, or not to
provide separate financial statements for Hospira which would
enable an independent credit evaluation post-acquisition, Moody's
will likely withdraw all ratings on Hospira.

Ratings Rationale

Hospira's current Ba1 Corporate Family Rating reflects its solid
presence in the specialty injectable pharmaceutical market and good
growth prospects associated with biosimilars. It also reflects the
company's moderate revenues, and conservative financial leverage
(excluding one-time expenses). The rating also incorporates the
uncertainty surrounding generic competition for its key branded
product, Precedex, as well as its history of FDA compliance issues
at several manufacturing facilities.

The principal methodology used in these ratings was Global Medical
Product and Device Industry published in October 2012. Other
methodologies used include Loss Given Default for Speculative-Grade
Non-Financial Companies in the U.S., Canada and EMEA published in
June 2009.

Hospira, Inc., headquartered in Lake Forest, Illinois, is a leading
manufacturer of hospital products, including specialty injectable
pharmaceuticals and medication delivery systems. During the twelve
months ended September 30, 2014, Hospira generated revenues of
around $4.4 billion.



HOVNANIAN ENTERPRISES: Ara Hovnanian Holds 61% of Class B Shares
----------------------------------------------------------------
Ara K. Hovnanian disclosed in an amended regulatory filing with the
U.S. Securities and Exchange Commission that as of Jan. 2, 2015, he
beneficially owned 10,299,902 shares of Class B Common Stock of
Hovnanian Enterprises, Inc., representing 61.6 percent of the
shares outstanding.  A copy of the regulatory filing is available
for free at http://is.gd/C4nbAG

                     About Hovnanian Enterprises

Red Bank, New Jersey-based Hovnanian Enterprises, Inc. (NYSE: HOV)
-- http://www.khov.com/-- founded in 1959 by Kevork S. Hovnanian,
is one of the nation's largest homebuilders with operations in
Arizona, California, Delaware, Florida, Georgia, Illinois,
Kentucky, Maryland, Minnesota, New Jersey, New York, North
Carolina, Ohio, Pennsylvania, South Carolina, Texas, Virginia and
West Virginia.  The Company's homes are marketed and sold under
the trade names K. Hovnanian Homes, Matzel & Mumford, Brighton
Homes, Parkwood Builders, Town & Country Homes, Oster Homes and
CraftBuilt Homes.  As the developer of K. Hovnanian's Four Seasons
communities, the Company is also one of the nation's largest
builders of active adult homes.

As of Oct. 31, 2014, the Company had $2.28 billion in total
assets, $2.40 billion in total liabilities and a $118 million
in total deficit.

                           *     *     *

As reported by the Troubled Company Reporter on April 25, 2013,
Standard & Poor's Ratings Services said it raised its corporate
credit rating on Hovnanian Enterprises Inc. to 'B-' from 'CCC+'.
"The upgrade reflects strengthening operating performance
supported by the broader recovery in the housing market that, we
believe, should support modest profitability in 2013," said
Standard & Poor's credit analyst George Skoufis.

In the Dec. 9, 2013, edition of the TCR, Fitch Ratings upgraded
the Issuer Default Rating (IDR) of Hovnanian Enterprises to 'B-'
from 'CCC'.  The upgrade and the Stable Outlook reflects HOV's
operating performance year-to-date (YTD), adequate liquidity
position, and moderately better prospects for the housing sector
during the remainder of this year and in 2014.

The TCR reported on Jan. 9, 2014, that Moody's Investors Service
raised the Corporate Family Rating of Hovnanian Enterprises, Inc.,
to B3 from Caa1.  The upgrade of the Corporate Family Rating to B3
reflects Hovnanian's improved financial performance including
improvement in interest coverage to slightly above 1x and finally
turning net income positive for the fiscal year 2013.


HUSH HOMES: Claims Bar Date Set for February 27
-----------------------------------------------
The Ontario Superior Court of Justice set Feb. 27, 2015, at 5:00
p.m., as deadline for any creditors who may have a claim against
Hush Homes Inc. et al. to file a proof of claim.  All proofs of
claim must be submitted to The Fuller Landau Group Inc., the
court-appointed monitor of the Company.

Creditors requiring more information or who have not received a
proof of claim or claims package should contact Adam Erlich, the
court-appointed monitor of the Company, by telephone at
416.645.6560, or fax at 416.645.6501.  They could also either
e-mail at aerlich@fullerlandau.com to obtain a proof of claim
form or claims package, or visit the monitor's website at
http://www.fullerllp.com/hush.

The firm can be reached at:

  The FullerLandau Group Inc.
  Court-appointed Monitor of Hush Homes lnc.,
  Hush lnc., 2122763 Ontario Inc. and
  2142301 Ontario Inc.
  151 Bloor St. West, 12th Floor,
  Toronto, Ontario M5S 1S4


IDERA PHARMACEUTICALS: VP Clinical Development Quits
----------------------------------------------------
Robert D. Arbeit, M.D., vice president clinical development,
departed Idera Pharmaceuticals Inc. following notice to the Company
of his desire to pursue other opportunities, according to a
regulatory filing with the U.S. Securities and Exchange
Commission.

In connection with his departure, Dr. Arbeit and the Company
entered into a consulting agreement, dated Jan. 30, 2015, pursuant
to which Dr. Arbeit has agreed to provide consulting services to
the Company through July 31, 2015, unless terminated by either Dr.
Arbeit or the Company at an earlier date, and the Company has
agreed to pay Dr. Arbeit a consulting fee of $175 per hour, not to
exceed $1,400 per day and $14,000 per month.  Fees are payable
pursuant to the Consulting Agreement based upon services actually
performed.  Each of the Company and Dr. Arbeit may terminate the
Consultation Period upon 30 days' prior written notice to the other
Party.  In the event of such termination, Dr. Arbeit will be
entitled to payment for services performed and expenses paid or
incurred prior to the effective date of termination.

                    About Idera Pharmaceuticals

Cambridge, Massachusetts-based Idera Pharmaceuticals, Inc., is a
clinical stage biotechnology company engaged in the discovery and
development of novel synthetic DNA- and RNA-based drug candidates
that are designed to modulate immune responses mediated through
Toll-like Receptors, or TLRs.  The Company has two drug
candidates, IMO-3100, a TLR7 and TLR9 antagonist, and IMO-8400, a
TLR7, TLR8, and TLR9 antagonist, in clinical development for the
treatment of autoimmune and inflammatory diseases.

Idera Pharmaceuticals reported a net loss of $18.2 million in
2013, a net loss of $19.2 million in 2012, and a net loss of
$23.8 million in 2011.

The Company's balance sheet at Sept. 30, 2014, showed
$60.6 million in total assets, $7.81 million in total liabilities,
and $52.8 million in total stockholders' equity.


IMAGEWARE SYSTEMS: Closes $12 Million Preferred Stock Offering
--------------------------------------------------------------
ImageWare Systems, Inc., has completed its previously announced
12,000 share issue of Series E Convertible Preferred Stock to
certain investors at a price of $1,000 per share, with each share
convertible into 526.32 shares of its Common Stock at $1.90 per
share.  Approximately 2,000 shares were issued in consideration for
the exchange by ImageWare's largest shareholder and a director of
certain indebtedness of ImageWare totaling approximately $2
million.  The offering resulted in gross proceeds to ImageWare of
approximately $10 million.  The shares were offered in a registered
direct offering conducted without an underwriter or placement
agent.  The net proceeds from the closings, after deducting
offering expenses, were approximately $9.925 million.

ImageWare said it will use the proceeds from the offering for
research and development, working capital, repayment of certain
indebtedness and other general corporate purposes.   As a result of
consummation of the offering, ImageWare has no debt.

                     About ImageWare Systems

Headquartered in San Diego, California, ImageWare Systems, Inc.,
is a leader in the emerging market for software-based identity
management solutions, providing biometric, secure credential, law
enforcement and enterprise authorization.  Its "flagship" product
is the IWS Biometric Engine.  Scalable for small city business or
worldwide deployment, the Company's biometric engine is a multi-
biometric platform that is hardware and algorithm independent,
enabling the enrollment and management of unlimited population
sizes.  The Company's identification products are used to manage
and issue secure credentials, including national IDs, passports,
driver licenses, smart cards and access control credentials.  Its
law enforcement products provide law enforcement with integrated
mug shot, fingerprint LiveScan and investigative capabilities.
The Company also provides comprehensive authentication security
software.

Imageware Systems incurred a net loss of $9.84 million in 2013, a
net loss of $10.2 million in 2012 and a net loss of $3.18 million
in 2011.

As of Sept. 30, 2014, the Company had $5.67 million in total
assets, $4.51 million in total liabilities and $1.15 million in
total shareholders' equity.


INFINITY ENERGY: Incurs $3.7 Million Net Loss in 2014
-----------------------------------------------------
Infinity Energy Resources, Inc., filed with the U.S. Securities and
Exchange Commission its annual report on Form 10-K disclosing a
loss applicable to common shareholders of $3.70 million for the
year ended Dec. 31, 2014, compared to a loss applicable to common
shareholders of $5.58 million during the prior year.

As of Dec. 31, 2014, the Company had $9.66 million in total assets,
$12.7 million in total liabilities, all current, and a $3.06
million total stockholders' deficit.

L.L. Bradford & Company, in Leawood, Kansas, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2014, citing that the Company has suffered
recurring losses, has no on-going operations, and has a significant
working capital deficit, which raises substantial doubt about its
ability to continue as a going concern.

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

                        http://is.gd/blhFmB

                       About Infinity Energy

Overland Park, Kansas-based Infinity Energy Resources and its
subsidiaries, are engaged in the acquisition and exploration of oil
and gas properties offshore Nicaragua in the Caribbean Sea.


INFINITY ENERGY: RBSM LLP Expresses Going Concern Doubt
-------------------------------------------------------
Infinity Energy Resources, Inc., filed with the U.S. Securities and
Exchange Commission on Feb. 4, 2015, its annual report on Form 10-K
for the year ended Dec. 31, 2014.

RBSM, LLP, expressed substantial doubt about the Company's ability
to continue as a going concern, citing that the Company has
suffered recurring losses, has no on-going operations, and has a
significant working capital deficit.

The Company reported a net loss of $3.68 million for the year ended
Dec. 31, 2014, compared with a net loss of $2.43 million during the
prior year.

The Company's balance sheet at Dec. 31, 2014, showed $9.66 million
in total assets, $12.7 million in total liabilities, and a
stockholders' deficit of $3.06 million.

A copy of the Form 10-K is available at:
                              
                       http://is.gd/blhFmB
                          
                      About Infinity Energy

Overland Park, Kansas-based Infinity Energy Resources and its
subsidiaries, are engaged in the acquisition and exploration of
oil and gas properties offshore Nicaragua in the Caribbean Sea.

Infinity Energy reported a net loss applicable to common
shareholders of $5.58 million for the year ended Dec. 31, 2013,
compared to net income applicable to common shareholders of
$895,000 for the year ended Dec. 31, 2012.

As of Dec. 31, 2013, the Company had $10.5 million in assets,
$11.7 million in liabilities, $1.65 million in redeemable,
convertible preferred stock, and a $2.87 million stockholders'
deficit.

L.L. Bradford & Company, in Leawood, Kansas, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2013.  The independent auditors noted
that the Company has suffered recurring losses, has no on-going
operations, and has a significant working capital deficit, which
raises substantial doubt about its ability to continue as a going
concern.


INSITE VISION: Signs License Agreement with Nicox S.A.
------------------------------------------------------
InSite Vision Incorporated entered into a license agreement with
Nicox S.A., a France-based publicly traded company, for the
development and commercialization of InSite's ophthalmic
therapeutic products AzaSite (1% azithromycin), AzaSite XtraTM (2%
azithromycin) and BromSiteTM (0.075% bromfenac) all formulated in
InSite's DuraSite drug delivery system.  The agreement grants Nicox
exclusive rights to commercialize all three products in Europe
(including Eastern Europe), Middle East and Africa (EMEA).

Under the terms of the License Agreement, InSite received an
upfront payment of $3 million and could potentially receive up to
$13.75 million in milestone payments for various product approvals
and sales milestones for the subject products.  Upon product
launch, InSite will also receive tiered, mid-single digit to
double-digit royalties, according to a regulatory filing with the
U.S. Securities and Exchange Commission.

                          InSite Vision

Based in Alameda, California, InSite Vision Incorporated (OTCBB:
INSV) -- http://www.insitevision.com/-- is committed to
advancing new and superior ophthalmologic products for unmet eye
care needs.  The company's product portfolio utilizes InSite
Vision's proven DuraSite(R) bioadhesive polymer core technology, a
platform that extends the duration of drug retention on the
surface of the eye, thereby reducing frequency of treatment and
improving the efficacy of topically delivered drugs.

Burr Pilger Mayer, Inc., expressed substantial doubt about the
Company's ability to continue as a going concern in its report on
the Company's consolidated financial statements for the year ended
Dec. 31, 2013, citing that the Company has recurring losses from
operations, available cash and short-term investment balances and
accumulated deficit.

The Company's balance sheet at Sept. 30, 2014, showed
$2.49 million in total assets, $7.77 million in total liabilities,
and a stockholders' deficit of $5.28 million.

InSite Vision reported net income of $5.78 million in 2013
following a net loss of $8.27 million in 2012.


INTERLEUKIN GENETICS: Registers 102.7MM Common Shares for Resale
----------------------------------------------------------------
Interleukin Genetics, Inc., filed a Form S-1 registration statement
with the U.S. Securities and Exchange Commission relating to the
resale by Bay City Capital Fund V, L.P., Growth Equity
Opportunities Fund III, LLC, William Alan Jolly, et al., of up to
102,781,654 shares of the Company's common stock.  These shares
consist of:

    (1) 50,099,700 issued and outstanding shares and 50,099,700
        shares underlying warrants issued to investors in a
        private placement transaction completed on Dec. 23, 2014;

    (2) 89,731 shares underlying warrants issued to BTIG, LLC, the
        placement agent in the December 2014 Private Placement,
        and its affiliates, as placement agent compensation; and

    (3) 2,492,523 shares underlying warrants issued to the lender
        in a debt transaction completed on Dec. 23, 2014.

The Company will not receive any proceeds from the sale of the
shares offered by this prospectus.  The Company may, however,
receive the proceeds of any cash exercises of Warrants which, if
received, would be used by the Company for working capital
purposes.

The Company's common stock is traded on the OTCQB under the symbol
"ILIU".  On Feb. 5, 2015, the closing sale price of the Company's
common stock on the OTCQB was $0.20 per share.

A full-text copy of the Form S-1 prospectus is available at:

                        http://is.gd/6sshUL

                         About Interleukin

Waltham, Mass.-based Interleukin Genetics, Inc., is a personalized
health company that develops unique genetic tests to provide
information to better manage health and specific health risks.

Interleukin Genetics incurred a net loss of $7.05 million on $2.42
million of total revenue for the year ended Dec. 31, 2013, as
compared with a net loss of $5.12 million on $2.23 million of
total revenue in 2012.

As of Sept. 30, 2014, the Company had $4.45 million in total
assets, $3.51 million in total liabilities, all current, and
$937,000 in total stockholders' equity.

Grant Thornton LLP, in Boston, Massachusetts, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2013.  The independent auditors noted
that the Company has incurred recurring losses from operations and
has an accumulated deficit that raise substantial doubt about the
Company's ability to continue as a going concern.

                         Bankruptcy Warning

The Company warned in its quarterly report for the period ended
Sept. 30, 2014, that if it fails to obtain additional capital by
Feb. 28, 2015, it may have to end its operations and seek
protection under bankruptcy laws.

"We expect that our current and anticipated financial resources
will be adequate to maintain our current and planned operations
only through February 28, 2015.  We need significant additional
capital to fund our continued operations, including for the
continued commercial launch of our PerioPredictTM test, continued
research and development efforts, obtaining and protecting patents
and administrative expenses.  We have retained a financial
advisor, however, based on current economic conditions, additional
financing may not be available, or, if available, it may not be
available on favorable terms.  In addition, the terms of any
financing may adversely affect the holdings or the rights of our
existing shareholders.  For example, if we raise additional funds
by issuing equity securities, further dilution to our then-
existing shareholders will result.  Debt financing, if available,
may involve restrictive covenants that could limit our flexibility
in conducting future business activities.  We also could be
required to seek funds through arrangements with collaborators or
others that may require us to relinquish rights to some of our
technologies, tests or products in development.  If we cannot
obtain additional funding on acceptable terms, we may have to
discontinue operations and seek protection under U.S. bankruptcy
laws."


ISTAR FINANCIAL: Diamond Hill Reports 6.5% Stake as of Dec. 31
--------------------------------------------------------------
Diamond Hill Capital Management, Inc., disclosed in an amended
regulatory filing with the U.S. Securities and Exchange Commission
that as of Dec. 31, 2014, it beneficially owned 5,533,617 shares of
common stock of iStar Financial, Inc., representing 6.5 percent of
the shares outstanding.  A full-text copy of the Schedule 13G/A is
available for free at http://is.gd/lxl2MI

                       About iStar Financial

New York-based iStar Financial Inc. (NYSE: SFI) provides custom-
tailored investment capital to high-end private and corporate
owners of real estate, including senior and mezzanine real estate
debt, senior and mezzanine corporate capital, as well as corporate
net lease financing and equity.  The Company, which is taxed as a
real estate investment trust, provides innovative and value added
financing solutions to its customers.

iStar Financial incurred a net loss allocable to common
shareholders of $156 million in 2013, a net loss allocable to
common shareholders of $273 million in 2012, and a net loss
allocable to common shareholders of $62.4 million in 2011.

As of Sept. 30, 2014, the Company had $5.48 billion in total
assets, $4.20 billion in total liabilities, $11.4 million in
redeemable noncontrolling interests, and $1.26 billion in total
equity.

                            *     *     *

As reported by the TCR on June 26, 2014, Fitch Ratings had
affirmed the Issuer Default Rating (IDR) of iStar Financial
at 'B'.  The 'B' IDR is driven by improvements in the company's
leverage, continued demonstrated access to the capital markets and
new sources of growth capital and material reductions in non-
performing loans (NPLs).

As reported by the TCR on Oct. 5, 2012, Standard & Poor's Ratings
Services affirmed its 'B+' long-term issuer credit rating on iStar
Financial.

In October 2012, Moody's Investors Service upgraded the corporate
family rating to 'B2' from 'B3'.  The current rating reflects the
REIT's success in extending near term debt maturities and
improving fundamentals in commercial real estate.  The ratings on
the October 2012 senior secured credit facility takes into account
the asset coverage, the size and quality of the collateral pool,
and the term of facility.


IZEA INC: Closes Ebyline Acquisition
------------------------------------
IZEA, Inc., completed its purchase of all of the outstanding shares
of capital stock of Ebyline, Inc., on Jan. 30, 2015, according to a
regulatory filing with the U.S. Securities and Exchange
Commission.

The aggregate consideration payable by IZEA will be up to $8.85
million, including a cash payment at closing of $1.2 million, a
stock issuance six months after the closing valued at $250,000, an
additional $1.9 million in the form of cash or common stock, at
IZEA's option, in two equal installments of $950,000 on the first
and second anniversaries of the closing, and up to $5.5 million
based on Ebyline meeting certain revenue criteria for each of the
three years ending Dec. 31, 2015, 2016 and 2017, and subject to the
continued employment of at least one of William Momary Jr. and
Allen Narcisse, Ebyline's former chief executive officer and chief
financial officer, respectively.
Based in Los Angeles, California, Ebyline operates an online
marketplace that enables publishers to access a network of over
12,000 content creators ranging from writers to illustrators in 73
countries.  Over 2,000 fully vetted individuals in the Ebyline
network have professional journalism credentials with backgrounds
at well-known media outlets.  Ebyline's proprietary workflow is
utilized by leading media organizations to manage the entire
customer content creation process - from creator selection through
electronic payment.  In addition to publishers, Ebyline is
leveraged by brands to produce custom branded content for use on
their owned and operated sites, as well as third party content
marketing and native advertising efforts.  The Ebyline technology
platform has been used by publishers and brands to manage over
200,000 content projects.

                Employment Agreements with Former
                   Ebyline Executive Officers

Effective at the closing of the Ebyline acquisition, IZEA entered
into an employment agreement with each of William Momary Jr. and
Allen Narcisse and extended offer letters to all other former
Ebyline employees.  Messrs. Momary and Narcisse have agreed to
devote all of their business time, attention and ability to the
discharge of their duties as IZEA's senior vice president of
content and senior vice president of corporate development,
respectively.

The employment agreements for Messrs. Momary and Narcisse extend
for a three-year term expiring on Jan. 30, 2018, and provide that
they will each receive a base salary at an annual rate of $200,000
for services rendered.  In addition, each executive was granted
stock options to purchase 300,000 shares of IZEA common stock at an
exercise price of $0.30 per share, vesting 40% after two years and
monthly thereafter in equal installments for three years, in
accordance with IZEA's 2011 Equity Incentive Plan.

                         About IZEA, Inc.

IZEA, Inc., headquartered in Orlando, Fla., considers itself the
world leader in social media sponsorships ("SMS"), a rapidly
growing segment within social media where a company compensates a
social media publisher to share sponsored content within their
social network.  The Company accomplishes this by operating
multiple marketplaces that include its platforms SocialSpark,
SponsoredTweets and WeReward, as well as its legacy platforms
PayPerPost and InPostLinks.

IZEA reported a net loss of $3.32 million on $6.62 million
of revenue for the 12 months ended Dec. 31, 2013, as compared with
a net loss of $4.67 million on $4.95 million of revenue during
2012, and a net loss of $3.98 million in 2011.

The Company's balance sheet at Sept. 30, 2014, showed $10.8
million in total assets, $7.80 million in total liabilities and
$2.99 million in total stockholders' equity.


JACKSONVILLE BANCORP: RMB Capital Reports 6.2% Stake as of Dec. 31
------------------------------------------------------------------
In a Schedule 13G filed with the U.S. Securities and Exchange
Commission, RMB Capital Holdings, LLC, and its affiliates disclosed
that as of Dec. 31, 2014, they beneficially owned 196,532 shares of
common stock of Jacksonville Bancorp Inc. representing 6.18 percent
of the shares outstanding.  A copy of the regulatory filing is
available at http://is.gd/Oa7lBM

                      About Jacksonville Bancorp

Jacksonville Bancorp, Inc., a bank holding company, is the parent
of The Jacksonville Bank, a Florida state-chartered bank focusing
on the Northeast Florida market with eight full-service branches
in Jacksonville, Duval County, Florida, as well as the Company's
virtual branch.  The Jacksonville Bank opened for business on
May 28, 1999, and provides a variety of community banking services
to businesses and individuals in Jacksonville, Florida.

Jacksonville Bancorp reported a net loss available to common
shareholders of $32.4 million in 2013, a net loss available to
common shareholders of $43.04 million in 2012 and a net loss
available to common shareholders of $24.05 million in 2011.

The Company's balance sheet at Sept. 30, 2014, the Company had
$510 million in total assets, $474 million in total
liabilities and $36.3 million in total shareholders' equity.


KEMET CORP: Morgan Stanley Reports 8.3% Stake as of Dec. 31
-----------------------------------------------------------
In an amended Schedule 13G filed with the U.S. Securities and
Exchange Commission, Morgan Stanley disclosed that as of Dec. 31,
2014, it beneficially owned 3,774,609 shares of common stock of
Kemet Corp. representing 8.3 percent of the shares outstanding.
Morgan Stanley Capital Services LLC also owned 2,360,324 common
shares as of that date.  A full-text copy of the regulatory filing
is available for free at http://is.gd/r7JcA3

                            About KEMET

KEMET, based in Greenville, South Carolina, is a manufacturer and
supplier of passive electronic components, specializing in
tantalum, multilayer ceramic, film, solid aluminum, electrolytic,
and paper capacitors.  KEMET's common stock is listed on the NYSE
under the symbol "KEM."

                          *     *     *

As reported by the TCR on March 26, 2013, Moody's Investors
Service downgraded KEMET Corp.'s Corporate Family Rating to 'Caa1'
from 'B2' and the Probability of Default Rating to 'Caa1-PD' from
'B2- PD' based on Moody's expectation that KEMET's liquidity will
be pressured by maturing liabilities and negative free cash flow
due to the interest burden and continued operating losses at the
Film and Electrolytic segment.

As reported by the TCR on Aug. 9, 2013, Standard & Poor's Ratings
Services lowered its corporate credit rating on KEMET to 'B-' from
'B+'.  "The downgrade is based on continued top-line and margin
pressures and lagging results from the restructuring of the Film &
Electrolytic [F&E] business, which combined with cyclical weak
end-market demand, has resulted in sustained, elevated leverage
well in excess of 5x, persistent negative FOCF, and diminishing
liquidity," said Standard & Poor's credit analyst Alfred
Bonfantini.

The TCR reported in August 2014 that S&P revised its outlook on
KEMET to 'stable' from 'negative'.  S&P affirmed the ratings,
including the 'B-' corporate credit rating.


KIOR INC: Feb. 19 Hearing on Bid for Case Conversion or Dismissal
-----------------------------------------------------------------
The U.S. Bankruptcy Court will convene a hearing on Feb. 19, 2015,
at 10:00 a.m., to consider the motion to dismiss the Chapter 11
case of KiOR Inc., or in the alternative, convert the Debtor's case
to one under Chapter 7 of the Bankruptcy Code.

On Dec. 23, 2014, the Mississippi Development Authority, requested
for the relief.

As reported in the Troubled Company Reporter on Jan. 16, 2015,
the Debtor and the companies led by its lender, Vinod Khosla,
asked the Court to deny the motion.

According to the Debtor, the sole motivation of the state of
Mississippi, through the MDA, is to destroy any going concern value
for the Debtor by terminating the employment of more than 70 people
in Houston, Texas, destroying valuable business relationships and
transactions, and forcing the abandonment of promising bio-fuel,
alternative energy technology that can deliver real hydrocarbon
transportation fuels from cellulosic feedstock.

The MDA, which said it is Kior's largest unsecured creditor, told
the Court that it wants the Chapter 11 case converted to
liquidation or dismissed entirely, saying the company has no
revenues, huge past and ongoing losses, relatively few tangible
assets, technology that doesn't work, and no viable business or
business plan, Bill Rochelle and Sherri Toub, bankruptcy columnists
for Bloomberg News, reported.

Meanwhile, the Khosla Parties have asked a judge in Lowndes County
Chancery Court to appoint a receiver for Kior's Columbus plant,
which isn't in bankruptcy, saying that a receiver is needed to
protect the interests of all creditors and that the plant can't pay
the $271,872 in property taxes due Feb. 1, the Associated Press
reported.  The Khosla Parties also accused the MDA of scaring off a
potential buyer

                          About Kior Inc.

KiOR, Inc., and wholly owned subsidiary KiOR Columbus, LLC, are
development stage, renewable fuels companies based in Pasadena,
Texas and Columbus, Mississippi, respectively.  KiOR, Inc., was
founded in 2007 as a joint venture between Khosla Ventures, LLC,
and BIOeCon B.V.  KiOR Inc.'s primary business is the development
and commercialization of a ground-breaking proprietary technology
designed to generate a renewable crude oil from non-food
cellulosic biomass.

KiOR, Inc. filed a Chapter 11 petition (Bankr. D. Del. Case No.
14-12514) on Nov. 9, 2014, in Delaware.   Through the chapter 11
case, the Debtor intends to reorganize its business or sell
substantially all of its assets so that it can continue its core
research and development activities.  KiOR Columbus did not seek
bankruptcy protection.

The Debtor disclosed $58.3 million in assets and $261 million
in liabilities as of June 30, 2014.

The Debtor is represented by Mark W. Wege, Esq., Edward L. Ripley,
Esq., and Eric M. English, Esq., at King & Spalding, LLP, in
Houston, Texas; and John Henry Knight, Esq., Michael Joseph
Merchant, Esq., and Amanda R. Steele, Esq., at Richards, Layton &
Finger, P.A., in Wilmington, Delaware.  The Debtor's financial
advisor is Alvarez & Marsal.  Guggenheim Securities, LLC, is the
Debtor's investment banker.  Epiq Bankruptcy Solutions, LLC, is the
Debtor's claims and noticing agent.

Pasadena Investments, LLC, as administrative agent for a consortium
of lenders, committed to provide up to $15 million in postpetition
financing.  The DIP Agent is represented by Thomas E. Patterson,
Esq., at Klee, Tuchin, Bogdanoff & Stern LLP, in Los Angeles,
California, and Michael R. Nestor, Esq., at Young Conaway
Stargatt & Taylor, LLP, in Wilmington, Delaware.


KU6 MEDIA: Incurs $932,000 Net Loss in Third Quarter
----------------------------------------------------
Ku6 Media Co., Ltd., reported unaudited financial results for the
third quarter of fiscal year 2014 ended Sept. 30, 2014.

Net loss was $932,000 on $1.61 million of total revenues in the
third quarter of 2014 compared to a net loss of $3.43 million on
$3.40 million of total revenues for the same period in 2013.

For the nine months ended Sept. 30, 2014, the Company reported a
net loss of $65.6 million on $31.4 million of total revenue
compared to a net loss of $7.65 million on $9.89 million of total
revenues for the same period last year.

As of Sept. 30, 2014, the Company had $5.10 million in total
assets, $9.42 million in total liabilities and a $4.31 million in
total shareholders' deficit.

Cash and cash equivalents were $2.77 million as of Sept. 30, 2014.

"It's my pleasure to announce Ku6's earnings release for the third
quarter of 2014," Mr. Xudong Xu, chief executive foficer of Ku6
Media, commented.  "After the reduction of labor and CDN costs in
the second quarter of 2014, we entered into a new advertising
agency agreement with Huzhong in August which allowed us to realize
higher revenue and enjoy better cash collection terms.  As a
result, we significantly narrowed our operating cash deficit by the
end of the quarter and we are now forecasting a better operating
cash flow in the next year."

                   Liquidity and Going Concern

"Substantial doubt exists as to the Company's ability to continue
as a going concern, primarily due to uncertainties regarding (1)
the Company's ability to continue to improve operating cash
inflows, which depend on growth in revenues from (i) Huzhong, the
Company's new third party advertising agency since late August
2014, and (ii) two cooperation agreements with related party Qinhe;
(2) the Company's ability to reduce its operating cash outflows;
and (3) the availability and timing of additional financing with
terms acceptable to the Company.  Growth in the Company's operating
cash inflows is principally dependent upon achieving revenue growth
from successful cooperation with Huzhong and Qinhe as well as other
efforts to expand sources of revenue."

A full-text copy of the press release is available for free at:

                        http://is.gd/w4xz6Z

                          About Ku6 Media

Ku6 Media Co., Ltd. -- http://ir.ku6.com/-- is an Internet video
company in China focused on User-Generated Content.  Through its
premier online brand and online video website,  www.ku6.com , Ku6
Media provides online video uploading and sharing service, video
reports, information and entertainment in China.

KU6 Media reported a net loss of $34.4 million in 2013, a net
loss of $9.49 million in 2012 and a net loss of $49.4 million in
2011.

PricewaterhouseCoopers Zhong Tian LLP, in Shanghai, the People's
Republic of China, issued a "going concern" qualification in its
report on the consolidated financial statements for the year ended
Dec. 31, 2013.  The independent auditors noted that facts and
circumstances including recurring losses, negative working
capital, net cash outflows, and uncertainties associated with
significant changes planned to be made in respect of the Company's
business model raise substantial doubt about the Company's ability
to continue as a going concern.


LAKELAND INDUSTRIES: Dimensional Reports 5% Stake as of Dec. 31
---------------------------------------------------------------
Dimensional Fund Advisors LP disclosed in a regulatory filing with
the U.S. Securities and Exchange Commission that as of Dec. 31,
2014, it beneficially owned 407,874 shares of common stock of
Lakeland Industries Inc. representing 5.79 percent of the shares
outstanding.  A copy of the regulatory filing is available at:

                        http://is.gd/sMfVB3

                     About Lakeland Industries

Ronkonkoma, N.Y.-based Lakeland Industries, Inc., manufactures and
sells a comprehensive line of safety garments and accessories for
the industrial protective clothing market.

The Company reported a net loss of $26.3 million on $95.1 million
of net sales for the year ended Jan. 31, 2013, as compared with a
net loss of $377,000 on $96.3 million of sales for the year ended
Jan. 31, 2012.

In their report on the consolidated financial statements for the
year ended Jan. 31, 2013, Warren Averett, LLC, in Birmingham,
Alabama, expressed substantial doubt about Lakeland Industries'
ability to continue as a going concern.  The independent auditors
noted that Company is in default on certain covenants of its loan
agreements at Jan. 31, 2013.

As of Oct. 31, 2014, the Company had $86.8 million in total
assets, $31.8 million in total liabilities and $54.9 million in
total stockholders' equity.


LAKELAND INDUSTRIES: Ruihua Acts as Auditors for Chinese Unit
-------------------------------------------------------------
Lakeland Industries, Inc., disclosed in a regulatory filing with
the U.S. Securities and Exchange Commission that it has been
informed by RSM China (Shanghai), the auditors of the Company's
China subsidiary Weifang Lakeland Safety Products Co., Ltd., that
RSM China has merged its practice with Ruihua Certified Public
Accountants.  As a result of the merger, Ruihua CPA, as the
successor to RSM China, became the auditors for Lakeland China on
whom the Company's independent registered public accounting firm is
expected to express reliance in its report.

During the two most recent fiscal years, and thereafter prior to
the merger, neither the Company, nor anyone on its behalf,
consulted with Ruihua CPA regarding either:

   (i) the application of accounting principles to a specified
       transaction, either completed or proposed; or the type of
       audit opinion that might be rendered on the Company's
       consolidated financial statements or Lakeland China's
       financial statements, in connection with which either a
       written report or oral advice was provided to the Company
       that Ruihua CPA concluded was an important factor
       considered by the Company in reaching a decision as to the
       accounting, auditing or financial reporting issue; or

  (ii) any matter that was either the subject of a "disagreement"
      (as defined in Item 304(a)(1)(iv) of Regulation S-K and the
       related instructions) or a "reportable event" (as described
       in Item 304(a)(1)(iv) of Regulation S-K).

                     About Lakeland Industries

Ronkonkoma, N.Y.-based Lakeland Industries, Inc., manufactures and
sells a comprehensive line of safety garments and accessories for
the industrial protective clothing market.

The Company reported a net loss of $26.3 million on $95.1 million
of net sales for the year ended Jan. 31, 2013, as compared with a
net loss of $377,000 on $96.3 million of sales for the year ended
Jan. 31, 2012.

In their report on the consolidated financial statements for the
year ended Jan. 31, 2013, Warren Averett, LLC, in Birmingham,
Alabama, expressed substantial doubt about Lakeland Industries'
ability to continue as a going concern.  The independent auditors
noted that the Company is in default on certain covenants of its
loan agreements at Jan. 31, 2013.

As of Oct. 31, 2014, the Company had $86.8 million in total
assets, $31.8 million in total liabilities and $54.9 million in
total stockholders' equity.


LEVEL 3: Posts $66 Million Net Income for Fourth Quarter
--------------------------------------------------------
Level 3 Communications, Inc., reported net income of $66 million on
$1.91 billion of revenue for the three months ended Dec. 31, 2014,
compared to net income of $14 million on $1.60 billion of revenue
for the same period in 2013.

For the year ended Dec. 31, 2014, the Company reported net income
of $314 million on $6.77 billion of revenue compared to a net loss
of $109 million on $6.31 billion of revenue during the prior year.

As of Dec. 31, 2014, the Company had $20.94 billion in total
assets, $14.58 billion in total liabilities and $6.36 billion in
stockholders' equity.

"Level 3 had a solid 2014, delivering strong financial and
operational results and completing the acquisition of tw telecom,"
said Jeff Storey, president and CEO of Level 3.  "In 2015, we
continue to focus on executing against our integration plans while
investing to grow the business well into the future."

A full-text copy of the press release is available for free at:

                        http://is.gd/KFxzJ4

                    About Level 3 Communications

Headquartered in Broomfield, Colorado, Level 3 Communications,
Inc., is a publicly traded international communications company
with one of the world's largest communications and Internet
backbones.

                           *     *     *

In June 2014, Fitch Ratings upgraded the Issuer Default Rating
(IDR) assigned to Level 3 Communications, Inc. (LVLT) and its
wholly owned subsidiary Level 3 Financing, Inc. (Level 3
Financing) to 'B+' from 'B'.

"The upgrade of LVLT's ratings is supported by the continued
strengthening of the company's credit profile since the close of
the Global Crossing Limited (GLBC) acquisition, positive operating
momentum evidenced by expanding gross and EBITDA margins, and
ongoing revenue growth within the company's Core Network Services
(CNS) segment and its position to generate meaning FCF," Fitch
stated.

In June 2013, Standard & Poor's Ratings Services raised its
corporate credit rating on Level 3 to 'B' from 'B-'.  "The upgrade
reflects improved debt leverage, initially from the acquisition of
the lower-leveraged Global Crossing in October 2011, and
subsequently from realization of the bulk of what the company
expects to eventually be $300 million of annual operating
synergies," said Standard & Poor's credit analyst Richard
Siderman.

As reported by the TCR on Oct. 31, 2014, Moody's Investors Service
upgraded Level 3's corporate family rating (CFR) to 'B2' from
'B3'.

Level 3's B2 CFR is based on the company's ability to generate
relatively modest free cash flow of between $250 million and $300
million in 2016 and, inclusive of debt which is presumed to be
converted to equity in 2015, to de-lever by approximately 0.5x to
4.8x (Moody's adjusted) by the end of 2016.


LHP HOSPITAL: S&P Affirms 'B-' CCR & Revises Outlook to Stable
--------------------------------------------------------------
Standard & Poor's Ratings Services affirmed its corporate credit
rating on Plano, Texas-based acute-care hospital operator LHP
Hospital Group Inc. (LHP) and revised its outlook to stable from
negative.

"The outlook revision follows better-than-expected operating
performance in the third quarter, characterized by improving
admissions trends at maturing hospitals," said Standard & Poor's
credit analyst Shannan Murphy.  It also reflects our view that the
recent sale of a money-losing hospital, combined with the full-year
impact of cost-saving activities begun in 2014, is likely to result
in stronger margins, less cash usage, and more headroom under
financial covenants in 2015 compared with 2014.

LHP's hospital portfolio is small and undiversified, consisting of
five hospitals located in four states.  The company operates
primarily in difficult, competitive markets that include payor mix
challenges as well as local economic risk.  Along with the
industry, LHP has been hurt by reimbursement and regulatory
changes, including higher bad debt expense from patients insured
under high deductible health plans and the impact of the
two-midnight rule, which has resulted in a significant shift to
lower paying observation stays.  With only two hospitals operating
in Medicaid expansion states, LHP has also seen less of a benefit
from reductions in uncompensated care relative to the industry as a
whole.

S&P's stable rating outlook on LHP reflects S&P's view that the
sale of an underperforming hospital combined with cost
rationalization activities begun in 2014 will result in about 200
basis points of margin improvement in 2015, resulting in about $20
million in cash usage (inclusive of high expansionary capital
expenditures) and at least a 15% cushion to the company's financial
covenants over the next year.

S&P could revise its outlook to negative or lower the rating if the
company is unable to improve operating performance, resulting in
persistent, meaningful cash flow deficits and a tightening margin
of compliance on its debt covenants.  In S&P's view, this could
occur if the company is unable to generate sufficient cash EBITDA
to cover its fixed charges, which S&P estimates at least $65
million on a recurring basis.

A higher rating would require the company to generate meaningful
discretionary cash flow on a recurring basis, as this could cause
S&P to view credit quality as more consistent with 'B' (rather than
'B-') rated peers.  In S&P's view, LHP would need to expand EBITDA
margins by over 600 basis points to meet this target, which S&P
believes is highly unlikely over the next year.



MCCLATCHY CO: Contrarius Held 10% of Class A Shares at Dec. 31
--------------------------------------------------------------
Contrarius Investment Management Limited and Contrarius Investment
Management (Bermuda) Limited disclosed in an amended regulatory
filing with the U.S. Securities and Exchange Commission that as of
Dec. 31, 2014, they beneficially owned 6,493,431 shares of Class A
common stock of McClatchy Company representing 10.4 percent of the
shares outstanding.  A copy of the regulatory filing is available
for free at http://is.gd/gjWfXn

                    About The McClatchy Company

Sacramento, Cal.-based The McClatchy Company (NYSE: MNI)
-- http://www.mcclatchy.com/-- is a media company that provides
both print and digital news and advertising services.  Its
operations include 30 daily newspapers, community newspapers,
websites, mobile news and advertising, niche publications, direct
marketing and direct mail services.  Its owned newspapers include,
among others, the (Fort Worth) Star-Telegram, The Sacramento Bee,
The Kansas City Star, the Miami Herald, The Charlotte Observer, and
The (Raleigh) News & Observer.  The Company holds interest in
digital assets which include CareerBuilder, LLC, Classified
Ventures, LLC, HomeFinder, LLC, and Wanderful Media.

The Company reported net income of $18.8 million for the year
ended Dec. 29, 2013, as compared with a net loss of $144,000 for
the year ended Dec. 30, 2012.  The Company's balance sheet at
Sept. 28, 2014, the Company had $2.63 billion in total assets,
$2.31 billion in total liabilities and $318 million in
stockholders' equity.

                           *     *     *

McClatchy carries a 'Caa1' corporate family rating from Moody's
Investors Service.  In May 2011, Moody's changed the rating
outlook from stable to positive following the company's
announcement that it closed on the sale of land in Miami for
$236 million.  The outlook change reflects Moody's expectation
that McClatchy will utilize the net proceeds to reduce debt,
including its underfunded pension position, which will reduce
leverage by approximately half a turn and lower required
contributions to the pension plan over the next few years.

McClatchy Co. carries a 'B-' Corporate Credit Rating from
Standard & Poor's Ratings Services.

As reported by the TCR on April 2, 2014, Standard & Poor's Ratings
Services affirmed all ratings on U.S. newspaper company The
McClatchy Co., including the 'B-' corporate credit rating, and
revised the rating outlook to stable from positive.  The outlook
revision to stable reflects S&P's expectation that the
timeframe for a potential upgrade lies beyond the next 12 months,
and could also depend on the company realizing value from its
digital minority interests.



MCCLATCHY CO: Dimensional Fund Holds 6% of Class A Shares
---------------------------------------------------------
Dimensional Fund Advisors LP reported in a regulatory filing with
the U.S. Securities and Exchange Commission that as of Dec. 31,
2014, it beneficially owned 3,831,744 shares of class A common
stock of McClatchy Company representing 6.13 percent of the shares
outstanding.  A copy of the regulatory filing is available for free
at http://is.gd/pA7TOK

                    About The McClatchy Company

Sacramento, Cal.-based The McClatchy Company (NYSE: MNI)
-- http://www.mcclatchy.com/-- is a media company that provides
both print and digital news and advertising services.  Its
operations include 30 daily newspapers, community newspapers,
websites, mobile news and advertising, niche publications, direct
marketing and direct mail services.  Its owned newspapers include,
among others, the (Fort Worth) Star-Telegram, The Sacramento Bee,
The Kansas City Star, the Miami Herald, The Charlotte Observer, and
The (Raleigh) News & Observer.  The Company holds interest in
digital assets which include CareerBuilder, LLC, Classified
Ventures, LLC, HomeFinder, LLC, and Wanderful Media.

The Company reported net income of $18.8 million for the year
ended Dec. 29, 2013, as compared with a net loss of $144,000 for
the year ended Dec. 30, 2012.  The Company's balance sheet at
Sept. 28, 2014, the Company had $2.63 billion in total assets,
$2.31 billion in total liabilities and $318 million in
stockholders' equity.

                           *     *     *

McClatchy carries a 'Caa1' corporate family rating from Moody's
Investors Service.  In May 2011, Moody's changed the rating
outlook from stable to positive following the company's
announcement that it closed on the sale of land in Miami for
$236 million.  The outlook change reflects Moody's expectation
that McClatchy will utilize the net proceeds to reduce debt,
including its underfunded pension position, which will reduce
leverage by approximately half a turn and lower required
contributions to the pension plan over the next few years.

McClatchy Co. carries a 'B-' Corporate Credit Rating from
Standard & Poor's Ratings Services.

As reported by the TCR on April 2, 2014, Standard & Poor's Ratings
Services affirmed all ratings on U.S. newspaper company The
McClatchy Co., including the 'B-' corporate credit rating, and
revised the rating outlook to stable from positive.  The outlook
revision to stable reflects S&P's expectation that the
timeframe for a potential upgrade lies beyond the next 12 months,
and could also depend on the company realizing value from its
digital minority interests.



MCCLATCHY CO: Extends Employment of President and CEO
-----------------------------------------------------
The McClatchy Company entered into a new employment agreement with
Patrick J. Talamantes effective as of May 16, 2015, pursuant to
which Mr. Talamantes will continue his employment as the Company's
president and chief executive officer, according to a regulatory
filing with the U.S. Securities and Exchange Commission.

Unless terminated earlier by the Company or by Mr. Talamantes under
terms of the New Employment Agreement, the original term of the New
Employment Agreement will be three years, expiring on May 16, 2018,
and absent the Company's or Mr. Talamantes' timely written notice
not to extend, the remaining term of the New Employment Agreement
will automatically extend for an additional year on each May 16th
during the term beginning on May 16, 2016 (so that effective on
each such day, the remaining term of employment will be for a full
three-year period).  During the term of the New Employment
Agreement, Mr. Talamantes will receive an annual base salary of
$841,500 or such other annual base salary as may be determined by
the Compensation Committee of the Board, and Mr. Talamantes is
generally entitled to participate in any Company benefit plans,
programs, or arrangements offered to him.

                    About The McClatchy Company

Sacramento, Cal.-based The McClatchy Company (NYSE: MNI)
-- http://www.mcclatchy.com/-- is a media company that provides
both print and digital news and advertising services.  Its
operations include 30 daily newspapers, community newspapers,
websites, mobile news and advertising, niche publications, direct
marketing and direct mail services.  Its owned newspapers include,
among others, the (Fort Worth) Star-Telegram, The Sacramento Bee,
The Kansas City Star, the Miami Herald, The Charlotte Observer, and
The (Raleigh) News & Observer.  The Company holds interest in
digital assets which include CareerBuilder, LLC, Classified
Ventures, LLC, HomeFinder, LLC, and Wanderful Media.

The Company reported net income of $18.8 million for the year
ended Dec. 29, 2013, as compared with a net loss of $144,000 for
the year ended Dec. 30, 2012.  The Company's balance sheet at
Sept. 28, 2014, the Company had $2.63 billion in total assets,
$2.31 billion in total liabilities and $318 million in
stockholders' equity.

                           *     *     *

McClatchy carries a 'Caa1' corporate family rating from Moody's
Investors Service.  In May 2011, Moody's changed the rating
outlook from stable to positive following the company's
announcement that it closed on the sale of land in Miami for
$236 million.  The outlook change reflects Moody's expectation
that McClatchy will utilize the net proceeds to reduce debt,
including its underfunded pension position, which will reduce
leverage by approximately half a turn and lower required
contributions to the pension plan over the next few years.

McClatchy Co. carries a 'B-' Corporate Credit Rating from
Standard & Poor's Ratings Services.

As reported by the TCR on April 2, 2014, Standard & Poor's Ratings
Services affirmed all ratings on U.S. newspaper company The
McClatchy Co., including the 'B-' corporate credit rating, and
revised the rating outlook to stable from positive.  The outlook
revision to stable reflects S&P's expectation that the
timeframe for a potential upgrade lies beyond the next 12 months,
and could also depend on the company realizing value from its
digital minority interests.



MCIG INC: Files Fourth Amendment to FY Ended April 30 Report
------------------------------------------------------------
mCig, Inc., filed with the U.S. Securities and Exchange Commission
on Jan. 30, 2015, a fourth amendment to its annual report on Form
10-K for the fiscal year ended April 30, 2014.  A copy of the Form
10-K/A is available at http://is.gd/BVbnss

De Joya Griffith, LLC, expressed substantial doubt about the
Company's ability to continue as a going concern, citing that the
Company has suffered recurring losses from operations and has a net
capital deficiency.

The Company reported a net loss of $122,000 on $370,000 of revenue
for the fiscal year ended April 30, 2014, compared with a net loss
of $106,800 on $50,000 of revenue in 2013.

The Company's balance sheet at Sept. 30, 2014, showed $1.18 million
in total assets, $140,000 in total liabilities, and stockholders'
equity of $1.04 million.

mCig manufactures, markets, and distributes electronic cigarettes,
vaporizers, and accessories under the mCig andVitaCig brand name in
the United States.  It offers electronic cigarettes and related
products through its online store mcig.org, as well as through the
company's wholesale, distributor, and retail programs.  The company
was formerly known as Lifetech Industries, Inc. and changed its
name to mCig, Inc. in August 2013.  mCig was founded in 2010 and is
based in Beverly Hills, California.



MCIG INC: Files Third Amendment to July 31 Quarter Report
---------------------------------------------------------
mCig, Inc., filed with the U.S. Securities and Exchange Commission
a third amendment to its quarterly report on Form 10-Q, a copy of
which is available at http://is.gd/xkMRvL

The Company reported a net loss of $1.06 million on $196,000 of
revenue for the three months ended July 31, 2014, compared to a net
loss of $7,087 on $12,500 of revenue for the same period during the
prior year.

The Company's balance sheet at Sept. 30, 2014, showed $2.8 million
in total assets, $6,900 in total liabilities and stockholders'
equity of $2.79 million.

The Company has recurring losses from operations of $1.06 million
and an accumulated deficit at July 31, 2014 of $1.44 million and
needs additional cash to maintain its operations.  These factors
raise doubt about the Company's ability to continue as a going
concern, according to the regulatory filing.

mCig, Inc. manufactures, markets, and distributes electronic
cigarettes, vaporizers, and accessories under the mCig and VitaCig
brand name in the United States.  It offers electronic cigarettes
and related products through its online store mcig.org, as well as
through the company's wholesale, distributor, and retail programs.
The company was formerly known as Lifetech Industries, Inc., and
changed its name to mCig, Inc. in August 2013. mCig was founded in
2010 and is based in Beverly Hills, California.



MEG ENERGY: Bank Debt Trades at 5% Off
--------------------------------------
Participations in a syndicated loan under which MEG Energy Corp is
a borrower traded in the secondary market at 94.60 cents-on-the-
dollar during the week ended Friday, Feb. 6, 2015, according
to data compiled by LSTA/Thomson Reuters MTM Pricing and reported
in The Wall Street Journal.  This represents a decrease of 0.61
percentage points from the previous week, The Journal relates.
MEG Energy Corp pays 275 basis points above LIBOR to borrow under
the facility.  The bank loan matures on March 16, 2020, and
carries Moody's Ba1 rating and Standard & Poor's BBB- rating.  The
loan is one of the biggest gainers and losers among 197 widely
quoted syndicated loans with five or more bids in secondary
trading for the week ended Friday.



METALICO INC: Approves Rights Plan
----------------------------------
Metalico, Inc., has adopted a stockholder rights plan to enhance
the interests of the Company's shareholders.

Metalico's Board of Directors declared a dividend of one right on
each outstanding share of Metalico's common stock to implement the
Rights Plan.  The Plan is designed to assure that all of the
Company's stockholders receive fair and equal treatment in the
event of any proposed takeover of the Company and to guard against
tactics to gain control of the Company without paying all
stockholders a premium for that control.

The Rights Plan is not intended to deter offers that are fair and
otherwise in the best interests of the Company's stockholders.  The
Plan will not prevent a takeover, but should encourage any
individual or group seeking to acquire the Company to negotiate
with its Board of Directors.

Pursuant to the Rights Plan, the Company is issuing one preferred
share purchase right for each outstanding share of common stock at
the close of business on Feb. 17, 2015.  Initially, the rights will
not be exercisable and will trade with the Company's shares of
common stock.

Under the Rights Plan, the rights will generally become exercisable
only if a person or group acquires beneficial ownership of 15% or
more of Metalico's common stock in a transaction not approved by
the Board of Directors.  In that situation, each holder of a right
(other than the acquiring person, whose rights will become null and
void and will not be exercisable) will be entitled to purchase, at
the then-current purchase price as defined in the Rights Plan,
additional shares of common stock having a value of twice the
purchase price of the right.  In addition, if Metalico is acquired
in a merger or other business combination after an unapproved party
acquires more than 15% of Metalico's common stock, each holder of a
right would be entitled to purchase, at the then-current purchase
price under the Plan, shares of the acquiring company's stock
having a value of twice the purchase price of the right.

Metalico's Board of Directors may redeem the rights for a nominal
amount at any time before an event that causes the rights to become
exercisable.  The Rights Plan is scheduled to expire Feb. 3, 2016.

Metalico entered into a rights agreement dated as of Feb. 3, 2015,
with Corporate Stock Transfer, Inc., as Rights Agent.

Metalico has filed a Form 8-K containing additional information
regarding the terms and conditions of the Rights Plan, a copy of
which is available at http://is.gd/pfoOjV

On Feb. 3, 2015, the Company amended its Fourth Amended and
Restated Certificate of Incorporation effective immediately upon
its filing of the Certificate of Designation for the Series A
Junior Participating Preferred Stock with the Secretary of State of
the State of Delaware on that date.

Also on February 3, the Board of Directors amended the Company's
bylaws which eliminates certain provisions enabling the holders of
record of at least 20% of the outstanding shares of Common Stock of
the Company to request a special stockholders meeting.  In
addition, the amendment provides that board vacancies and newly
created directorships will be filled by the vote of a majority of
directors then in office, and may no longer be filled by an
election at an annual meeting of the stockholders or a special
meeting of the stockholders called for that purpose.

                           About Metalico

Metalico, Inc., is a holding company with operations in two
principal business segments: ferrous and non-ferrous scrap metal
recycling, and fabrication of lead-based products.  The Company
operates recycling facilities in New York, Pennsylvania, Ohio,
West Virginia, New Jersey, Texas, and Mississippi and lead
fabricating plants in Alabama, Illinois, and California.
Metalico's common stock is traded on the NYSE MKT under the symbol
MEA.

Metalico reported a net loss attributable to the Company of $34.8
million in 2013 following a net loss attributable to the Company
of $13.1 million in 2012.  Metalico incurred a net loss
attributable to the Company of $3.61 million for the six months
ended June 30, 2014.

As of Sept. 30, 2014, the Company had $294.46 million in total
assets, $156.95 million in total liabilities and $137.51 million
in total equity.


MINERAL PARK: Arizona Attorney General to Defend Mohave County
--------------------------------------------------------------
Hubble Ray Smith at Daily Miner reports that the Mohave County
Board of Supervisors has authorized the Arizona Attorney General's
Office to defend the County in the Mineral Park, Inc. vs. Arizona
Department of Revenue case.

Daily Miner relates that the case involves the Company's abatement
request on $16 million in property taxes owed.

According to Daily Miner, Tom Duranceau, Western Arizona's Joint
Technical Education District vice chairperson, told the board he
hopes the County continues to defend the property tax collection
that is significant for local school districts.  "The school
children in Mohave County are paying the price for these issues,"
the report quoted him as saying.

                    About Mineral Park

Mineral Park, Inc., Bluefish Energy Corp. and two affiliates
commenced proceedings under Chapter 11 of the Bankruptcy Code in
Delaware on Aug. 25, 2014.  The cases are pending before the
Honorable Kevin J. Carey and are jointly administered under Case
No. 14-11996.

Mineral Park and its affiliated debtors are subsidiaries of
Mercator Minerals Ltd. ("MML"), a mineral resource company engaged
through various subsidiaries in the mining, exploration,
development and operation of its mineral properties in Mohave
County, Arizona, and Sonora, Mexico.

Mineral Park's principal asset is the Mineral Park Mine, a
producing copper-molybdenum mine located near Kingman, Arizona.
Bluefish is the owner and operator of the industrial gas turbine
power generator at the Mine.

British Columbia, Canada-based MML, which has shares trading on the
Toronto Stock Exchange under the trading symbol "ML", is not
included in the bankruptcy filing.

The Debtors have tapped Pachulski Stang Ziehl & Jones LLP as
counsel, Evercore Group LLC as investment banker, FTI Consulting,
Inc., as financial advisor, FTI's David J. Beckman as CRO, and
FTI's Paul Hansen as assistant CRO.  Prime Clerk LLC is the claims
and noticing agent.

The U.S. Trustee for Region 3 appointed three creditors of Mineral
Park, Inc. and its affiliates to serve on the official committee of
unsecured creditors.  The Committee selected Stinson Leonard Street
LLP and Hiller & Arban LLC as its counsel.

Mineral Park reported $286,362,131 in total assets and
$266,035,508 in total liabilities.


MONARCH COMMUNITY: EJF Capital Reports 3% Stake as of Dec. 31
-------------------------------------------------------------
EJF Capital LLC and its affiliates disclosed in an amended Schedule
13G filed with the U.S. Securities and Exchange Commission that as
of Dec. 31, 2014, it beneficially owned 283,198 shares of common
stock of Monarch Community Bancorp, Inc., representing 3.2 percent
of the shares outstanding.  A copy of the regulatory filing is
available at http://is.gd/KyVO50

                      About Monarch Community

Coldwater, Michigan-based Monarch Community Bancorp, Inc., was
incorporated in March 2002 under Maryland law to hold all of the
common stock of Monarch Community Bank, formerly known as Branch
County Federal Savings and Loan Association.  The Bank converted
to a stock savings institution effective Aug. 29, 2002.  In
connection with the conversion, the Company sold 2,314,375 shares
of its common stock in a subscription offering.

Monarch Community reported a net loss available to common
stockholders of $2.55 million in 2013, a net loss available to
common stockholders of $741,000 in 2012 and a net loss of $353,000
in 2011.

As of Sept. 30, 2014, the Company had $177 million in total
assets, $157 million in total liabilities, and $20.0 million
in total stockholders' equity.


MULTIPLAN INC: Bank Debt Trades at 2.12% Off
--------------------------------------------
Participations in a syndicated loan under which MultiPlan Inc. is a
borrower traded in the secondary market at 97.88
cents-on-the-dollar during the week ended Friday, Feb. 6, 2015,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in The Wall Street Journal.  This represents an increase
of 0.46 percentage points from the previous week, The Journal
relates.  The Company pays 300 basis points above LIBOR to borrow
under the facility.  The bank loan matures on March 14, 2021, and
carries Moody's B1 rating and Standard & Poor's B rating.  The loan
is one of the biggest gainers and losers among widely-quoted
syndicated loans in secondary trading in the week ended Friday
among the 197 loans with five or more bids. All loans listed are
B-term, or sold to institutional investors.


NAVISTAR INT'L: Franklin Resources Has 18% Stake as of Dec. 31
--------------------------------------------------------------
Franklin Resources, Inc., and its affiliates disclosed in an
amended Schedule 13G filed with the U.S. Securities and Exchange
Commission that as of Dec. 31, 2014, they beneficially owned
14,617,236 shares of common stock of Navistar International
Corporation representing 18 percent of the shares outstanding.  A
copy of the regulatory filing is available at http://is.gd/0kYUh1

                   About Navistar International

Navistar International Corporation (NYSE: NAV) --
http://www.navistar.com/-- is a holding company whose
subsidiaries and affiliates subsidiaries produce International(R)
brand commercial and military trucks, MaxxForce(R) brand diesel
engines, IC Bus(TM) brand school and commercial buses, Monaco RV
brands of recreational vehicles, and Workhorse(R) brand chassis
for motor homes and step vans.  It also is a private-label
designer and manufacturer of diesel engines for the pickup truck,
van and SUV markets.  The Company also provides truck and diesel
engine parts and service.  Another affiliate offers financing
services.

Navistar International reported a net loss attributable to the
Company of $898 million for the year ended Oct. 31, 2013,
following a net loss attributable to the Company of $3.01 billion
for the year ended Oct. 31, 2012.

The Company's balance sheet at July 31, 2014, showed $7.70 billion
in total assets, $11.7 billion in total liabilities and a
$4.04 billion stockholders' deficit.

                          *     *     *

In the Oct. 9, 2013, edition of the TCR, Moody's Investors Service
affirmed the ratings of Navistar International Corp., including the
'B3' corporate family rating.  The ratings reflect Moody's
expectation that Navistar's successful incorporation of Cummins
engines throughout its product line up will enable the company to
regain lost market share, and that progress in addressing component
failures in 2010 vintage-engines will significantly reduce warranty
expenses.

As reported by the TCR on Oct. 9, 2013, Standard & Poor's Ratings
Services lowered its long-term corporate credit rating on Navistar
International to 'CCC+' from 'B-'.  "The rating downgrades reflect
our increased skepticism regarding NAV's prospects for achieving
the market shares it needs for a successful business turnaround,"
said credit analyst Sol Samson.

In January 2013, Fitch Ratings affirmed the issuer default ratings
for Navistar International at 'CCC' and removed the negative
outlook on the ratings.  The removal reflects Fitch's view that
immediate concerns about liquidity have lessened, although
liquidity remains an important rating consideration as NAV
implements its selective catalytic reduction engine strategy.


NAVISTAR INTERNATIONAL: Copy of Presentation at 2015 Analyst Day
----------------------------------------------------------------
Navistar International Corporation presented via live web cast its
Analyst Day at the Company's world headquarters in Lisle, Illinois,
on Wednesday, February 4th.  

Speakers on the web cast included:

   (i) Troy Clarke, president and chief executive officer and
       director;

  (ii) Walter Borst, executive vice president and chief financial
       officer;

(iii) Bill Kozek, president, Truck and Parts;

   (iv) Persio Lisboa, president, operations;

    (v) Denny Mooney, senior vice president, Global Product
        Development;

   (vi) Michael Cancelliere, senior vice president, Global Parts
        and Customer Service;

  (vii) and other company leaders.

Copies of the slides containing financial and operating information
is available for free at http://is.gd/vIVPsv

                    About Navistar International

Navistar International Corporation (NYSE: NAV) --
http://www.navistar.com/-- is a holding company whose
subsidiaries and affiliates subsidiaries produce International(R)
brand commercial and military trucks, MaxxForce(R) brand diesel
engines, IC Bus(TM) brand school and commercial buses, Monaco RV
brands of recreational vehicles, and Workhorse(R) brand chassis
for motor homes and step vans.  It also is a private-label
designer and manufacturer of diesel engines for the pickup truck,
van and SUV markets.  The Company also provides truck and diesel
engine parts and service.  Another affiliate offers financing
services.

Navistar International reported a net loss attributable to the
Company of $898 million for the year ended Oct. 31, 2013,
following a net loss attributable to the Company of $3.01 billion
for the year ended Oct. 31, 2012.

The Company's balance sheet at July 31, 2014, showed $7.70 billion
in total assets, $11.7 billion in total liabilities and a
$4.04 billion stockholders' deficit.

                          *     *     *

In the Oct. 9, 2013, edition of the TCR, Moody's Investors Service
affirmed the ratings of Navistar International Corp., including the
'B3' corporate family rating.  The ratings reflect Moody's
expectation that Navistar's successful incorporation of Cummins
engines throughout its product line up will enable the company to
regain lost market share, and that progress in addressing component
failures in 2010 vintage-engines will significantly reduce warranty
expenses.

As reported by the TCR on Oct. 9, 2013, Standard & Poor's Ratings
Services lowered its long-term corporate credit rating on Navistar
International to 'CCC+' from 'B-'.  "The rating downgrades reflect
our increased skepticism regarding NAV's prospects for achieving
the market shares it needs for a successful business turnaround,"
said credit analyst Sol Samson.

In January 2013, Fitch Ratings affirmed the issuer default ratings
for Navistar International at 'CCC' and removed the negative
outlook on the ratings.  The removal reflects Fitch's view that
immediate concerns about liquidity have lessened, although
liquidity remains an important rating consideration as NAV
implements its selective catalytic reduction engine strategy.


NEW LOUISIANA: Affiliates Seek Approval to Auction Assets
---------------------------------------------------------
Three affiliates of New Louisiana Holdings LLC sought court
approval to sell almost all of their assets at auction.

In their motion, SA-Lakeland LLC and two other operators of skilled
nursing facilities in Florida asked the U.S. Bankruptcy Court for
the Western District of Louisiana to approve a bidding process that
will allow them to solicit offers for the assets.

Pursuant to the bidding procedures, potential buyers must submit
offers on or before March 25, at 12:00 p.m.  

The bid must be accompanied by a cash deposit of not less than 5%
of the purchase price.  It must also include a written evidence of
an unconditional commitment for financing by a bank, and the
bidder's ability to consummate the deal.

The bidding process allows the companies to select a stalking horse
bidder and offer a breakup fee of up to 2.5% of the purchase price,
according to court filings.

The companies will hold an auction on March 31 if it receives at
least one offer other than the stalking horse bid.  The sale of the
assets to the winning bidder will be considered at a hearing
scheduled for April 7.

A court hearing to consider approval of the bidding process is
scheduled for Feb. 10.

                   About New Louisiana Holdings

New Louisiana Holdings LLC, sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. W.D. La. Case No. 14-50756), on June
25, 2014.

Ten affiliates of New Louisiana -- Acadian 4005 Tenant, LLC (Case
No. 14-50850), Atrium 6555 Tenant, LLC, dba The Atrium at
Lafreniere Assisted Living (Case No. 14-50851), Citiscape 5010
Tenant, LLC, dba Citiscape Apartments (Case No. 14-50853), Lakewood
Quarters Assisted 8585 Tenant, LLC (Case No. 14-50854), Lakewood
Quarters Rehab 8225 Tenant, LLC (Case No. 14-50855), Panola 501
Partners, LP (Case No. 14-50862), Regency 14333 Tenant, LLC (Case
No. 14-50861), Retirement Center 14686 Tenant, LLC (Case No.
14-50856), Sherwood 2828 Tenant, LLC (Case No. 14-50857), St.
Charles 1539 Tenant, LLC (Case No. 14-50858) and Woodland Village
5301 Tenant, LLC (Case No. 14-50859) filed Chapter 11 bankruptcy
petitions on July 16, 2014.

Fifteen additional affiliates of New Louisiana -- SA-PG Ocala LLC
(Case No. 14-50909), SA-PG Operator Holdings LLC (Case No.
14-50912), SA-PG Clearwater LLC (Case No. 14-50913), SA-PG
Gainesville LLC (Case No. 14-50914), SA-PG Jacksonville LLC (Case
No. 14-50915), SA-PG Largo LLC (Case No. 14-50916), SA-PG North
Miami LLC (Case No. 14-50917), SA-PG Orlando LLC (Case No.
14-50918), SA-PG Pinellas LLC (Case No. 14-50919), SA-PG Port St.
Lucie LLC (Case No. 14-50920), SA-PG Sun City Center LLC (Case No.
14-50921), SA-PG Tampa LLC (Case No. 14-50922), SA-PG Vero Beach
LLC (Case No. 14-50923), SA-PG West Palm Beach LLC (Case No.
14-50924) and SA-PG Winterhaven LLC (Case No. 14-50925) filed
separate Chapter 11 bankruptcy petitions on July 28, 2014.

Four more affiliates of New Louisiana -- CHC-CLP Operator Holding
LLC (Case No. 14-51104), SA-St. Petersburg LLC (Case No. 14-51101),
SA-Clewiston LLC (Case No. 14-51102) and SA-Lakeland LLC (Case No.
14-51103) -- that operate skilled nursing facilities located in
Lakeland, Clewiston and St. Peterburg, Florida, sought protection
under Chapter 11 of the Bankruptcy Code on Sept. 3, 2014.

The Chapter 11 cases are jointly consolidated with New Louisiana's
Chapter 11 case at Case No. 14-50756 before Judge Robert Summerhays
of the United States Bankruptcy Court for the Western District of
Louisiana (Lafayette).

The Debtors are represented by Patrick J. Neligan, Jr., Esq., at
Neligan Foley LLP, in Dallas, Texas.  Jan M. Hayden and Baker
Donelson Bearman Caldwell & Berkowitz, P.C. serves as local
counsel.

The U.S. Trustee for Region 5 on Oct. 3, 2014, appointed three
creditors of New Louisiana Holdings, LLC, to serve on the official
committee of unsecured creditors.  Pepper Hamilton LLP and
McGlinchey Stafford PLLC serve as counsel to the Committee.


NEW LOUISIANA: Feb. 10 Hearing on Bid to Revisit DIP Order
----------------------------------------------------------
A court hearing will be held on Feb. 10 to consider the request of
New Louisiana Holdings LLC to dismiss the motion of the unsecured
creditors' committee to reconsider a federal court's decision that
allowed five affiliates of the company to obtain financing.   

In October last year, the U.S. Bankruptcy Court for the Western
District of Louisiana authorized the company's affiliates,
including three operators of skilled nursing facilities in Florida,
to obtain $2.4 million in financing from SA Mezz Holdings LLC.

The bankruptcy court also authorized the New Louisiana affiliates
to use the cash collateral of PacWest.

In November, the unsecured creditors' committee filed the motion in
which it sought modification to the court order in a bid to protect
creditors and prevent "potential overreaching" by New Louisiana's
insiders who also own and control the lender.

                   About New Louisiana Holdings

New Louisiana Holdings LLC, sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. W.D. La. Case No. 14-50756), on June
25, 2014.

Ten affiliates of New Louisiana -- Acadian 4005 Tenant, LLC (Case
No. 14-50850), Atrium 6555 Tenant, LLC, dba The Atrium at
Lafreniere Assisted Living (Case No. 14-50851), Citiscape 5010
Tenant, LLC, dba Citiscape Apartments (Case No. 14-50853), Lakewood
Quarters Assisted 8585 Tenant, LLC (Case No. 14-50854), Lakewood
Quarters Rehab 8225 Tenant, LLC (Case No. 14-50855), Panola 501
Partners, LP (Case No. 14-50862), Regency 14333 Tenant, LLC (Case
No. 14-50861), Retirement Center 14686 Tenant, LLC (Case No.
14-50856), Sherwood 2828 Tenant, LLC (Case No. 14-50857), St.
Charles 1539 Tenant, LLC (Case No. 14-50858) and Woodland Village
5301 Tenant, LLC (Case No. 14-50859) filed Chapter 11 bankruptcy
petitions on July 16, 2014.

Fifteen additional affiliates of New Louisiana -- SA-PG Ocala LLC
(Case No. 14-50909), SA-PG Operator Holdings LLC (Case No.
14-50912), SA-PG Clearwater LLC (Case No. 14-50913), SA-PG
Gainesville LLC (Case No. 14-50914), SA-PG Jacksonville LLC (Case
No. 14-50915), SA-PG Largo LLC (Case No. 14-50916), SA-PG North
Miami LLC (Case No. 14-50917), SA-PG Orlando LLC (Case No.
14-50918), SA-PG Pinellas LLC (Case No. 14-50919), SA-PG Port St.
Lucie LLC (Case No. 14-50920), SA-PG Sun City Center LLC (Case No.
14-50921), SA-PG Tampa LLC (Case No. 14-50922), SA-PG Vero Beach
LLC (Case No. 14-50923), SA-PG West Palm Beach LLC (Case No.
14-50924) and SA-PG Winterhaven LLC (Case No. 14-50925) filed
separate Chapter 11 bankruptcy petitions on July 28, 2014.

Four more affiliates of New Louisiana -- CHC-CLP Operator Holding
LLC (Case No. 14-51104), SA-St. Petersburg LLC (Case No. 14-51101),
SA-Clewiston LLC (Case No. 14-51102) and SA-Lakeland LLC (Case No.
14-51103) -- that operate skilled nursing facilities located in
Lakeland, Clewiston and St. Peterburg, Florida, sought protection
under Chapter 11 of the Bankruptcy Code on Sept. 3, 2014.

The Chapter 11 cases are jointly consolidated with New Louisiana's
Chapter 11 case at Case No. 14-50756 before Judge Robert Summerhays
of the United States Bankruptcy Court for the Western District of
Louisiana (Lafayette).

The Debtors are represented by Patrick J. Neligan, Jr., Esq., at
Neligan Foley LLP, in Dallas, Texas.  Jan M. Hayden and Baker
Donelson Bearman Caldwell & Berkowitz, P.C. serves as local
counsel.

The U.S. Trustee for Region 5 on Oct. 3, 2014, appointed three
creditors of New Louisiana Holdings, LLC, to serve on the official
committee of unsecured creditors.  Pepper Hamilton LLP and
McGlinchey Stafford PLLC serve as counsel to the Committee.


NICHOLS CREEK: Wants Until April 23 to Propose Reorganization Plan
------------------------------------------------------------------
Nichols Creek Development, LLC, asks the U.S. Bankruptcy Court to
extend until April 23, 2015, its exclusive period to propose one or
more plans of reorganization.

                      About Nichols Creek

Nichols Creek Development, LLC, sought Chapter 11 bankruptcy
for protection (Bankr. M.D. Fla. Case No. 14-04699) on Sept. 26,
2014, in Jacksonville, Florida.  R.L. Mitchell signed the petition
as member manager.  The Debtor disclosed total assets of $21.7
million and total liabilities of $11.5 million.

The Debtor owns property at 9596 New Berlin Court, Jacksonville,
Florida, which is valued at $21.8 million and pledged as
collateral to secured creditors owed a total of $11.6 million.
There is no secured debt.

The Law Offices of Jason A. Burgess, LLC, serves as the Debtor's
counsel.


PACIFIC DRILLING: Bank Debt Trades at 23% Off
---------------------------------------------
Participations in a syndicated loan under which Pacific Drilling
Ltd is a borrower traded in the secondary market at 97.88
cents-on-the-dollar during the week ended Friday, Feb. 6, 2015,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in The Wall Street Journal.  This represents a decrease of
0.88 percentage points from the previous week, The Journal relates.
The Company pays 350 basis points above LIBOR to borrow under the
facility.  The bank loan matures on May 15, 2018, and carries
Moody's B1 rating and Standard & Poor's B+ rating.  The loan is one
of the biggest gainers and losers among widely-quoted syndicated
loans in secondary trading in the week ended Friday among the 197
loans with five or more bids. All loans listed are B-term, or sold
to institutional investors.



PEABODY ENERGY: Bank Debt Trades at 16% Off
-------------------------------------------
Participations in a syndicated loan under which Peabody Energy
Power Corp. is a borrower traded in the secondary market at 83.85
cents-on-the-dollar during the week ended Friday, Feb. 6,
2015, according to data compiled by LSTA/Thomson Reuters MTM
Pricing and reported in The Wall Street Journal.  This represents
a decrease of 1.65 percentage points from the previous week, The
Journal relates.  Peabody Energy pays 325 basis points above LIBOR
to borrow under the facility.  The bank loan matures on Sept. 20,
2020, and carries Moody's Ba2 rating and Standard & Poor's BB
rating.  The loan is one of the biggest gainers and losers among
197 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended Friday.



PENN NATIONAL: Bank Debt Trades at 2% Off
-----------------------------------------
Participations in a syndicated loan under which Penn National
Gaming is a borrower traded in the secondary market at 97.88
cents-on-the-dollar during the week ended Friday, Feb. 6, 2015,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in The Wall Street Journal.  This represents an increase
of 0.00 percentage points from the previous week, The Journal
relates.  Penn National Gaming pays 250 basis points above LIBOR to
borrow under the facility.  The bank loan matures on Oct. 16, 2020,
and carries Moody's Ba2 rating and Standard & Poor's BB rating.
The loan is one of the biggest gainers and losers among 197 widely
quoted syndicated loans with five or more bids in secondary trading
for the week ended Friday.



PEREGRINE FINANCIAL: US Bancorp Ordered to Pay $18MM to Customers
-----------------------------------------------------------------
Chelsey Dulaney, writing for The Wall Street Journal, reported that
an Iowa district court has ordered U.S. Bancorp to pay $18 million
to customers of the now-defunct Peregrine Financial Group Inc, the
U.S. Commodity Futures Trading Commission said.

According to the report, the company's U.S. Bank unit was the home
of a Peregrine account holding funds that were misappropriated by
Peregrine founder Russell Wasendorf Sr. before the firm's failure
in 2012, the CFTC said.  The account was used to defraud more than
24,000 clients and misappropriate more than $215 million in
customer money, it added, the report related.

                    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,
2012.

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.


PHOTOMEDEX INC: Closes Sale of LCA-Vision for $40 Million
---------------------------------------------------------
PhotoMedex, Inc., and its subsidiary LCA-Vision Inc. entered into a
stock purchase agreement with Vision Acquisition, LLC, under which
Vision acquired LCA and its subsidiaries from the Company for a
total purchase price of $40 million in cash, which sale was
completed on Feb. 2, 2014.

After giving effect to working capital and indebtedness adjustments
and the payment of professional fees, the Company realized net
proceeds of $35.3 million from this sale, of which $2 million was
placed in escrow.  The Company had originally purchased LCA in a
stock-for-cash transaction which closed on May 12, 2014.  Pursuant
to the Termination of Joinder, dated as of Jan. 31, 2015, LCA has
been released from all of its obligations, including its guarantee
and collateral obligations, in connection with the Company's Credit
Agreement, dated as of May 12, 2014, by and between the Company,
JPMorgan Chase Bank, N.A., as Administrative Agent, First Niagara
Bank, N.A. and PNC Bank, National Association, each as
Co-Syndication Agents, J.P. Morgan Securities LLC, as Lead Arranger
and Bookrunner, and the other Lenders party thereto.  The Company
has used the proceeds from this transaction to pay down portions of
its outstanding revolving line of credit and term loan under the
Credit Agreement.

The Purchase Price was subject to working capital and indebtedness
adjustments at closing, in the amount of approximately $2.1
million.  The closing working capital adjustment was based upon the
difference between the target net working capital and an estimated
computation of LCA's net working capital as of Dec. 31, 2014.
There will also be post-closing working capital and indebtedness
adjustments.  Pursuant to the post-closing working capital
adjustment, the purchase price paid to the Company at closing will
be adjusted up or down by an amount equal to the difference between
LCA's net working capital as of Dec. 31, 2014, and LCA's net
working capital as of Jan. 31, 2015, subject to a $250,000 collar
(if applicable).

The Stock Purchase Agreement contains customary representations,
warranties and covenants by each of the Company, LCA and Vision, as
well customary indemnification provisions among the parties.

The parties entered into several ancillary agreements as part of
this transaction.

Under a Contingency Escrow Agreement among the parties, $2 million
of the Purchase Price has been placed into an escrow account held
by Fifth Third Bank, Cincinnati, Ohio, as Escrow Agent.  Under the
terms of the Stock Purchase Agreement, LCA and the Company must
obtain consents to the transaction from certain of LCA's vendors; a
designated portion of the Escrow Amount will be released to the
Company upon the receipt of each consent.  If a consent is not
obtained, a designated portion of the Escrow Amount may be released
to Vision.

The parties have also entered into an XTRAC Exclusivity Agreement,
under which LCA has granted to the Company sole and exclusive
rights to provide certain excimer light source products, systems
and equipment to LCA's Lasik Plus centers for the next seven years.
The terms of each placement, if any, will be determined on a
center-by-center basis.

Finally, the Company and LCA have entered into a Transition
Services Agreement, under which LCA will continue to provide
certain accounting, human resources and call center services to the
Company for an initial period of 60 days.  During that period, the
Company will arrange to transition those services back to the
Company's own personnel and offices.

                         About PhotoMedex

PhotoMedex, Inc., is a global health products and services company
providing integrated disease management and aesthetic solutions to
dermatologists, professional aestheticians, ophthalmologists,
optometrists, consumers and patients.  The Company provides
proprietary products and services that address skin conditions
including psoriasis, vitiligo, acne, actinic keratosis, photo
damage and unwanted hair, as well as fixed-site laser vision
correction services at our LasikPlus(R) vision centers.

As reported by the TCR on Nov. 11, 2014, PhotoMedex had
entered into an Amended and Restated Forbearance Agreement with
respect to its Credit Agreement dated May 12, 2014, and the
Initial Forbearance Agreement dated Aug. 25, 2014, by and among
the Company, as borrower and the lenders, and JPMorgan Chase Bank,
N.A., acting on behalf of secured creditors as the administrative
agent.  Subject to the terms of the Amended Forbearance Agreement,
for a period until Feb. 28, 2015, the Administrative Agent will
forbear from exercising any remedies relating to specified
defaults by the Company under the Credit Agreement.

The Company's balance sheet at Sept. 30, 2014, showed $277 million
in assets, $138 million in total liabilities, and $140 million of
total stockholders' equity.



QUANTUM CORP: Posts $6.9 Million Net Income for Third Quarter
-------------------------------------------------------------
Quantum Corporation filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing net income
of $6.93 million on $142 million of total revenue for the three
months ended Dec. 31, 2014, compared to a net loss of $2.45 million
on $146 million of total revenue for the same period in 2013.

For the nine months ended Dec. 31, 2014, the Company reported net
income of $3.85 million on $405.3 million of total revenue compared
to a net loss of $7.07 million on $425 million of total revenue for
the same period a year ago.

The Company's balance sheet at Dec. 31, 2014, showed $374 million
in total assets, $451 million in total liabilities and a $76.7
million total stockholders' deficit.

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

                        http://is.gd/xHuCOO

                         About Quantum Corp.

Based in San Jose, California, Quantum Corp. (NYSE:QTM) --
http://www.quantum.com/-- is a storage company specializing in
backup, recovery and archive.  Quantum provides a comprehensive,
integrated range of disk, tape, and software solutions supported
by a world-class sales and service organization.

Quantum Corporation incurred a net loss of $21.5 million on
$553 million of total revenue for the year ended March 31,
2014, as compared with a net loss of $52.2 million on $587
million of total revenue for the year ended March 31, 2013.


RADIOSHACK CORP: Begins Wave of Liquidation Sales
-------------------------------------------------
Peg Brickley, writing for The Wall Street Journal, reported that
Radioshack Corp. began the start of a final round of sales at 1,700
stores, the first wave slated for liquidation as the
consumer-electronics retailer tries to cut down its chain in
Chapter 11 bankruptcy.  According to the report, U.S. Bankruptcy
Judge Brendan Shannon in Delaware authorized the beginning of store
closure sales on Feb. 6, less than 24 hours after the Fort Worth,
Texas, company sought bankruptcy protection.

                   About Radioshack Corporation

Fort Worth, Texas-based RadioShack (NYSE: RSH) --
http://www.radioshackcorporation.com/-- is a retailer of mobile  
technology products and services, as well as products related to
personal and home technology and power supply needs.  RadioShack's
retail network includes more than 4,300 company-operated stores in
the United States, 270 company-operated stores in Mexico, and
approximately 1,000 dealer and other outlets worldwide.

RadioShack and its 17 affiliates sought protection under Chapter 11
of the Bankruptcy Code (Bankr. D. Del. Case No. 15-10197) on Feb.
5, 2015.

The Debtors have tapped Jones Day as counsel; Pepper Hamilton LLP,
as co-counsel; FTI Consulting, Inc., as restructuring advisors;
Maeva Group, LLC, as turnaround advisor; Lazard Freres & Co. LLC,
as investment banker; A&G Realty Partners as real estate advisor,
and Prime Clerk, as claims and noticing agent.



RADIOSHACK CORP: Delisted From NYSE
-----------------------------------
The New York Stock Exchange has suspended trading of RadioShack
Corporation's common stock for failure to submit a business plan to
address its noncompliance with the Exchange's continued listing
standards.

As previously disclosed, the NYSE notified RadioShack that the
average market capitalization of the Company was less than $50
million over a period of 30 consecutive trading days and the
stockholders' equity of the Company was below $50 million, which
are the minimum market capitalization and stockholders' equity
requirements for continued listing on the NYSE under Rule 802.01B
of the NYSE Listed Company Manual.
  
The NYSE indicated that submission of a delisting application with
the Securities and Exchange Commission is pending the completion of
applicable procedures, including any appeal by the Company of the
NYSE's determination.  The Company said it does not intend to
appeal the delisting determination.

                   About Radioshack Corporation

Fort Worth, Texas-based RadioShack (NYSE: RSH) --
http://www.radioshackcorporation.com/-- is a retailer of mobile
technology products and services, as well as products related to
personal and home technology and power supply needs.  RadioShack's
retail network includes more than 4,300 company-operated stores in
the United States, 270 company-operated stores in Mexico, and
approximately 1,000 dealer and other outlets worldwide.

RadioShack Corporation and 17 of its affiliates filed Chapter 11
petitions (Lead Case No. 15-10197) on Feb. 5, 2015.  Joseph C.
Maggnacca signed the petition as chief executive officer.  Judge
Kevin J. Carey presides over the cases.  The Debtors disclosed
total asssets of $1.2 billion and total debts of $1.3 billion.

Jone Day and Pepper Hamilton LLP represent the Debtors as counsel.
FTI Consulting, Inc., serves as the Debtors' restructuring
advisors.  Maeva Group, Inc. acts as the Debtors' turnaround
advisor.  Lazard Freres & Co. LLC is the Debtors' investment
banker.  A&G Realty Partners serves as the Debtors' real estate
advisor.  Prime Clerk acts as the Debtors' claims and noticing
agent.


RADIOSHACK CORP: Hearing on Sale Procedures Set for Feb. 20
-----------------------------------------------------------
Nick Brown at Reuters reports that the U.S. Bankruptcy Court for
the District of Delaware will hold on Feb. 20, 2015, a hearing to
consider procedures for bidding on RadioShack Corporation's assets,
with a final sale hearing tentatively scheduled for March 12, 2015.


As reported by the Troubled Company Reporter on Feb. 6, 2015, the
Company has signed an asset purchase agreement with Standard
General L.P. affiliate General Wireless Inc., which agreed to
acquire between 1,500 and 2,400 of the U.S. Company-owned stores.
As part of this process, other parties will have an opportunity to
submit offers for the assets in a court-approved process.  The sale
agreement is subject to court approval and other conditions.

The office of the attorney general might have concerns over whether
the Standard General sale would protect consumer privacy, Reuters
relates, citing the attorney for Texas Attorney General Ken
Paxton.

According to Reuters, the Company said it hopes to shut down more
than 1,700 stores, by the end of February to avoid paying an
estimated $7 million in March rent.  The Hon. Brendan Shannon said
on Feb. 6, 2015, that the Company could start taking initial steps
to close those stores over the weekend, but any further measures
will require additional approval, the report states.

The Company has closed its branch in The Plaza at Coal Township,
Sarah Desantis and Larry Deklinski at Newsitem.com relates.

Reuters says that the Company's unsecured creditors are expected to
form a committee later this month.

                About Radioshack Corporation

Fort Worth, Texas-based RadioShack (NYSE: RSH) --
http://www.radioshackcorporation.com/-- is a retailer of mobile  
technology products and services, as well as products related to
personal and home technology and power supply needs.  RadioShack's
retail network includes more than 4,300 company-operated stores in
the United States, 270 company-operated stores in Mexico, and
approximately 1,000 dealer and other outlets worldwide.

RadioShack Corporation (Bankr. D. Del. Case No. 15-10197) and
affiliates Atlantic Retail Ventures, Inc. (Bankr. D. Del. Case No.
15-10199), Ignition L.P. (Bankr. D. Del. Case No. 15-10200), ITC
Services, Inc. (Bankr. D. Del. Case No. 15-10201), Merchandising
Support Services, Inc. (Bankr. D. Del. Case No. 15-10202),
RadioShack Customer Service LLC (Bankr. D. Del. Case No. 15-10203),
RadioShack Global Sourcing Corporation (Bankr. D. Del. Case No.
15-10204), RadioShack Global Sourcing Limited Partnership (Bankr.
D. Del. Case No. 15-10206), RadioShack Global Sourcing, Inc.
(Bankr. D. Del. Case No. 15-10207), RS Ig Holdings Incorporated
(Bankr. D. Del. Case No. 15-10208), RSIgnite, LLC (Bankr. D. Del.
Case No. 15-10209), SCK, Inc. (Bankr. D. Del. Case No. 15-10210),
Tandy Finance Corporation (Bankr. D. Del. Case No. 15-10211), Tandy
Holdings, Inc. (Bankr. D. Del. Case No. 15-10212), Tandy
International Corporation (Bankr. D. Del. Case No. 15-10213), TE
Electronics LP (Bankr. D. Del. Case No. 15-10214), Trade and Save
LLC (Bankr. D. Del. Case No. 15-10215), and TRS Quality, Inc.
(Bankr. D. Del. Case No. 15-10217) filed separate Chapter 11
bankruptcy petitions on Feb. 5, 2015.  The petitions were signed by
Joseph C. Maggnacca, chief executive officer.  Judge Kevin J. Carey
presides over the case.

David G. Heiman, Esq., Greg M. Gordon, Esq., Amanda M. Suzuki,
Esq., Jonathan M. Fisher, Esq., Thomas A. Howley, Esq., and Paul M.
Green, Esq., at Jones Day serve as the Debtors' bankruptcy counsel.
David M. Fournier, Esq., Evelyn J. Meltzer, Esq., and John H.
Schanne, II, Esq., at Pepper Hamilton LLP serve as co-counsel.
Carlin Adrianopoli at FTI Consulting, Inc., is the Debtors'
restructuring advisor.  Maeva Group, LLC, is the Debtors'
turnaround advisor.  Lazard Freres & Co. LLC is the Debtors'
investment banker.  A&G Realty Partners is the Debtors' real estate
advisor.  Prime Clerk is the Debtors' claims and noticing agent.

In their Petitions, the Debtors disclosed total assets of $1.2
billion, versus total debts of $1.3 billion.

Radioshack reported a net loss of $400.2 million in 2013, a net
loss of $139 million in 2012, and net income of $72.2 million in
2011.  The Company's balance sheet at Aug. 2, 2014, showed $1.14
billion in total assets, $1.21 billion in total liabilities and a
$63 million total shareholders' deficit.


RADIOSHACK CORP: Meeting to Form Creditors' Panel Set for Feb. 13
-----------------------------------------------------------------
Andy Vara, Acting United States Trustee for Region 3, will hold an
organizational meeting on Feb. 13, 2015, at 10:00 a.m. in the
bankruptcy case of RadioShack Corporation, et al.

The meeting will be held at:

         The DoubleTree Hotel
         700 King St.
         Wilmington, DE 19801

The sole purpose of the meeting will be to form a committee or
committees of unsecured creditors in the Debtors' case.

The organizational meeting is not the meeting of creditors pursuant
to Section 341 of the Bankruptcy Code.  A representative of the
Debtor, however, may attend the Organizational Meeting, and provide
background information regarding the bankruptcy cases.

To increase participation in the Chapter 11 proceeding, Section
1102 of the Bankruptcy Code requires that the United States Trustee
appoint a committee of unsecured creditors as soon as practicable.
The Committee ordinarily consists of the persons, willing to serve,
that hold the seven largest unsecured claims against the debtor of
the kinds represented on the committee.

Section 1103 of the Bankruptcy Code provides that the Committee may
consult with the debtor, investigate the debtor and its business
operations and participate in the formulation of a plan of
reorganization.  The Committee may also perform other services as
are in the interests of the unsecured creditors whom it
represents.

As reported in the Troubled Company Reporter on Feb. 6, 2015,
RadioShack Corporation on Feb. 5 announced several actions intended
to maximize value for the Company's stakeholders.

RadioShack has signed an asset purchase agreement with General
Wireless Inc., an affiliate of Standard General L.P.  General
Wireless has agreed to acquire between 1,500 and 2,400 of
RadioShack's U.S. Company-owned stores.  To effectuate this
transaction and an orderly sale of the Company's remaining assets,
RadioShack and certain of its U.S. subsidiaries have filed
voluntary petitions for relief under Chapter 11 of the U.S.
Bankruptcy Code in the U.S. Bankruptcy Court for the District of
Delaware.  As part of this process, other parties will have an
opportunity to submit offers for RadioShack's assets in a
court-approved process.  The sale agreement is subject to court
approval and other conditions.  RadioShack's foreign subsidiaries
and its franchisee-owned stores are not included in the filing.
General Wireless, the entity formed to acquire the stores under the
asset purchase agreement, has agreed in principle on terms with
Sprint to establish a new dedicated mobility "store within a store"
retail presence in up to 1,750 of the acquired stores.  This
agreement-in-principle is subject to negotiation of definitive
documentation as well as court approval.



RB ENERGY: Provides Update on Sale & Investor Solicitation Process
------------------------------------------------------------------
RB Energy Inc. provided an update on the Court approved sale and
investor solicitation process (the "SISP").

CCAA proceedings

On Oct. 14, 2014, following consultations with legal and financial
advisors, the Company applied for and obtained an Initial Order to
commence proceedings under the Companies' Creditors Arrangement Act
("CCAA") in the Quebec Superior Court in respect of the Company and
its Canadian subsidiaries.  The Court granted an initial stay of
creditor proceedings to November 13, 2014, which was subsequently
extended to April 30, 2015.  During the CCAA proceedings, corporate
activities and Quebec Lithium care and maintenance operations are
being funded by a US $13 million "Debtor-in-Possession" loan
approved by the Court.

On Nov. 13, 2014 the Court approved the SISP in order to actively
seek a financial and restructuring solution to the Company's
current situation in the form of an acquisition of all or a partial
interest in its Quebec lithium and Chilean iodine projects or of an
investment in the Company and a restructuring of its financial
obligations, for the benefit of all stakeholders. Rothschild, a
leading global financial advisor and investment bank, was engaged
by the Company to manage this process.

Operations

On Oct. 7, 2014 the commissioning activities at Quebec Lithium were
stopped and the operations were put on care and maintenance. The
Company does not anticipate operations at Quebec Lithium to
re-start unless and until the Company successfully emerges from the
CCAA process.

The Company's iodine operations at Aguas Blancas continue in the
normal course and have been unaffected by the CCAA proceedings.
Production of iodine for 2015 is projected to be between 1,100 and
1,200 tonnes.

The SISP

Under the SISP, and with the assistance of Rothschild, RB Energy
has actively solicited expressions of interest from third parties
for the acquisition of all or a partial interest in its Quebec
lithium and Chilean iodine projects or for an investment in the
Company and a restructuring of its financial obligations.  Third
parties that executed a non-disclosure agreement conducted
preliminary due diligence over a period that ended on January 23,
2015, the deadline for submission of non-binding Letters of Intent
("LOI's").

The Company received a number of LOI's and, with its advisors, has
reviewed these non-binding proposals.  A number of parties were
notified by January 31, 2015 that they had been selected as
qualified bidders.  These parties have been invited to continue to
conduct due diligence with the goal of submitting final binding
offers by March 27, 2015.

In order to safeguard the integrity of the SISP process, the
details of all acquisition or investment proposals will be kept
confidential other than the details of the winning bid(s) once the
related transaction(s) is (are) approved by the Court and closed.

The future of the Company is dependent on the outcome of the SISP
and CCAA process . There can be no assurance that the Company will
be successful in negotiating a transaction(s) that will bring a
satisfactory financial solution to its current situation, or that
the Company's creditors and/or the Court will approve any proposed
transaction, or that any solution will preserve any value for the
Company's shareholders.

                    About RB Energy Inc.

RB Energy is a Canadian company formed pursuant to the arrangement
involving Sirocco Mining Inc. and Canada Lithium Corp.  It
currently owns Aguas Blancas, an iodine producing mine in northern
Chile, and Quebec Lithium near Val d'Or, the geographical heart of
the Quebec mining industry.  The Aguas Blancas mine is currently in
production.  The Quebec Lithium has completed construction and,
prior to going into care and maintenance on October 7, 2014, was in
the commissioning phase.


REICHHOLD HOLDINGS: To Stop Operations After Sale of Assets
-----------------------------------------------------------
Bloomberg News reports that Reichhold Inc. will stop all operations
following the sale of its assets this month.

The U.S. Bankruptcy Court for the District of Delaware approved in
January 2015 the sale of the Company's business, partly in exchange
for $46 million in junior secured debt, according to William J.
Rochelle III at Bloomberg News.  The report says that the Company
won't have any active operations after the sale is completed this
month.

                         About Reichhold

Founded in 1927, Reichhold, with its world headquarters and
technology center in Durham, North Carolina, USA, is one of the
world's largest manufacturer of unsaturated polyester resins and a
leading supplier of coating resins for the industrial,
transportation, building and construction, marine, consumer and
graphic arts markets.  Reichhold -- http://www.Reichhold.com/--   


has manufacturing operations throughout North America, Latin
America, the Middle East, Europe and Asia.

As of June 30, 2014, the Reichhold companies had consolidated
assets of $538 million and liabilities of $631 million.  In 2013,
the companies generated $1.08 billion in net revenue, and as of
the year-to-date August 2014, $750 million in net revenues.

Reichhold Holdings US, Inc., Reichhold, Inc., and two U.S.
affiliates sought Chapter 11 protection (Bankr. D. Del. Lead Case
No. 14-12237) on Sept. 30, 2014.

The Reichhold Companies are pursuing a sale transaction that has
two elements:

   (i) a consensual foreclosure by the holders of senior secured
       notes on their security interests in the common and
       preferred stock in Reichhold Holdings Luxembourg, S.a.r.l.,

       the ultimate holding company of all of the non-debtor
       affiliates that operate outside the U.S., and

  (ii) a purchase of certain assets of the Debtors by Reichhold
       Holdings International B.V. through a credit bid pursuant
       to Section 363 of the Bankruptcy Code.

Cole, Schotz, Meisel, Forman & Leonard, P.A. (legal advisor) and
CDG Group LLC (financial advisor) are representing Reichhold, Inc.
Latham & Watkins LLP (legal advisor) and Moelis & Company
(investment banker) are serving Reichhold Industries, Inc.

Logan & Company is the company's claims and noticing agent.

The cases are assigned to Judge Mary F. Walrath.

The U.S. Trustee for Region 3 appointed seven creditors of
Reichhold Holdings US, Inc. to serve on the official committee of
unsecured creditors.  The Creditors' Committee retains Hahn &
Hessen LLP as lead counsel, Blank Rome LLP as co-counsel, and
Capstone Advisory Group, LLC and Capstone Valuation Services, LLC,
as financial advisor.

An Ad Hoc Committee of Asbestos Claimants also appears in the
case.  The Ad Hoc Committee consists of three plaintiff law firms,
Cooney & Conway, Gori Julian & Associates, P.C., and Simmons Hanly
Conroy LLC, each in their capacity as tort counsel for clients of
their firms who have asbestos-related personal injury or wrongful
death claims against the Debtors.  The Committee is represented by
Mark T. Hurford, Esq., at Campbell & Levine, LLC; and Caplin &
Drysdale, Chartered's James P. Wehner, Esq. and Jeffrey A.
Liesemer, Esq.


REVEL AC: Appeals Court Ruling Threatens Casino Sale
----------------------------------------------------
Tom Corrigan, writing for The Wall Street Journal, reported that a
deal to sell Atlantic City, N.J.'s Revel Casino Hotel to a Florida
developer is in jeopardy after a federal appeals court panel
intervened to temporarily block a provision of the deal that was
unfavorable to the resort's former tenants.

According to the Journal, a three-judge panel of the U.S. Third
Circuit Court of Appeals in Philadelphia reversed a lower court's
decision that allowed a $95.4 million sale to developer Glenn
Straub to continue despite an appeal from the former operator of
Revel's nightclub.  The decision, the Journal said, will allow the
sale to continue, but preserves the tenants' leases and other
rights while an appeal is pending.

                          About Revel AC

Revel AC, Inc. -- http://www.revelresorts.com/-- owns and operates
Revel, a Las Vegas-style, beachfront entertainment resort and
casino located on the Boardwalk in the south inlet of Atlantic
City, New Jersey.

Revel AC Inc. and five of its affiliates sought bankruptcy
protection (Bankr. D.N.J. Lead Case No. 14-22654) on June 19,
2014, to pursue a quick sale of the assets.

The Chapter 11 cases are assigned to Judge Gloria M. Burns.  The
Debtors' Chapter 11 cases are jointly consolidated for procedural
purposes.

Revel AC estimated assets ranging from $500 million to $1 billion,
and the same amount of liabilities.

White & Case, LLP, and Fox Rothschild, LLP, serve as the Debtors'
Counsel, and Moelis & Company, LLC, is the investment banker.  The
Debtors' solicitation and claims agent is Alixpartners, LLP.

The prepetition first lenders are represented by Cadwalader,
Wickersham & Taft LLP.  The prepetition second lien lenders are
represented by Paul, Weiss, Rifkind, Wharton & Garrison LLP.  The
DIP agent is represented by Milbank, Tweed, Hadley & McCloy LLP.

This is Revel AC's second trip to bankruptcy.  The company first
sought bankruptcy protection (Bankr. D.N.J. Lead Case No. 13-16253)
on March 25, 2013, with a prepackaged plan that reduced debt by
$1.25 billion.  Less than two months later on May 15, 2013, the
2013 Plan was confirmed and became effective on May 21, 2013.


REVEL AC: Fights ACR Energy's Threat to Cut Off Power at Hotel
--------------------------------------------------------------
Harold Brubaker at Philly.com reports that Revel AC Inc. has asked
Judge Gloria M. Burns to stop ACR Energy Partners L.L.C. from
cutting off power at Revel Casino Hotel in Atlantic City.

Attorneys for Revel AC said in a court filing that ACR Energy,
which supplies utility services to the Hotel, is threatening to
turn off the power.  Philly.com adds that loss of power at the
Hotel could lead to severe damage to the Boardwalk complex.

Revel AC said in a court filing, "The only apparent motivation
behind the ACR parties' brazen conduct here is a last-ditch effort
to generate negotiating leverage in connection with these Chapter
11 cases."

Philly.com relates that ACR Energy made the threat after Judge
Burns gave final approval to debtor-in-possession financing, which
was unfavorable to ACR Energy.  According to the report, ACR Energy
has $118.6 million in bond debt and has been arguing that Revel AC
should continue making debt payments during its bankruptcy.  The
report says that Revel AC has only been paying ongoing utility
costs, pushing ACR Energy closer to bankruptcy.

                          About Revel AC

Revel AC, Inc. -- http://www.revelresorts.com/-- owns and  
operates Revel, a Las Vegas-style, beachfront entertainment resort
and casino located on the Boardwalk in the south inlet of Atlantic
City, New Jersey.

Revel AC Inc. along with four affiliates sought bankruptcy
protection (Bankr. D.N.J. Lead Case No. 13-16253) on March 25,
2013, in Camden, New Jersey, with a prepackaged plan that reduces
debt by $1.25 billion.

Revel's legal advisor in connection with the restructuring is
Kirkland & Ellis LLP. Alvarez & Marsal serves as its restructuring
advisor and Moelis & Company serves as its investment banker for
the restructuring.  Epiq Bankruptcy Solutions is the claims and
notice agent.

The Official Committee of Unsecured Creditor retained Christopher
A. Ward, Esq., Jason Nagi, Esq., and Jarrett Vine, Esq., at
Polsinelli PC as counsel.

Revel AC Inc. on May 21, 2013, disclosed that it has successfully
completed its financial restructuring and emerged from Chapter 11
of the United States Bankruptcy Code.  Through the restructuring
plan, which has been approved by both the U.S. Bankruptcy Court
for the District of New Jersey (Camden) and the New Jersey Casino
Control Commission, Revel has reduced its outstanding debt by
approximately $1.2 billion, or 82%, and its annual interest
expense on a cash basis by $98 million, or 96%.


RICEBRAN TECHNOLOGIES: Stephen Baksa Had 5.1% Stake as of Dec. 31
-----------------------------------------------------------------
Stephen D. Baksa disclosed in an amended regulatory filing with the
U.S. Securities and Exchange Commission that as of Dec. 31, 2014,
he beneficially owned 486,910 shares of common stock of
Ricebran Technologies representing 5.1 percent of the shares
outstanding.  A copy of the regulatory filing is available for free
at http://is.gd/OoaLUi

                          About RiceBran

Scottsdale, Ariz.-based RiceBran Technologies, a California
corporation, is a human food ingredient and animal nutrition
company focused on the procurement, bio-refining and marketing of
numerous products derived from rice bran.

RiceBran Technologies reported a net loss of $17.6 million on
$35.05 million of revenues for the year ended Dec. 31, 2013, as
compared with a net loss of $11.1 million on $37.7 million of
revenues for the year ended Dec. 31, 2012.

As of Sept. 30, 2014, the Company had $46.6 million in total
assets, $29.9 million in total liabilities, $3.94 million in
redeemable noncontrolling interest in Nutra SA, and $12.7 million
in total equity attributable to the Company's shareholders.

BDO USA, LLP, in Phoenix, Arizona, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2013.  The independent auditors noted that
the Company has suffered recurring losses from operations
resulting in an accumulated deficit of $219 million at Dec. 31,
2013.  This factor among other things, raises substantial doubt
about its ability to continue as a going concern.


RIDGEFIELD CHRISTIAN: Says Ch. 11 Would Beef Up Financial Position
------------------------------------------------------------------
Ridgefield Christian School, Inc., said it filed for Chapter 11
bankruptcy protection to "strengthen its overall financial position
by restructuring the terms of a 30-year municipal, tax-free bond .
. . .  This step is prompted by significant changes in financial
markets and the national economy since 2002, particularly in the
last five years," Mark Friedman at Arkansas Business reports.

Going to bankruptcy court was the responsible decision "in light of
our current situation and reflects understandings and provision
acknowledged by signatories to the original bond agreement,"
Arkansas Business quoted Ridgefield Christian as saying.

Ridgefield Christian School, Inc. --
http://www.ridgefieldchristian.org/-- is a private school in  
Jonesboro, Arkansas.

Ridgefield Christian School, Inc., filed for Chapter 11 bankruptcy
protection (Bankr. E.D. Ark. Case No. 15-10029) on Jan. 5, 2015,
listing $1.69 million in total assets and $2.10 million in total
liabilities.  The petition was signed by Doug Imrie, school board
vice president.  James F. Dowden, Esq., at James F. Downden, P.A.,
serves as the Debtor's bankruptcy counsel.  Judge Audrey R. Evans
presides over the case.


ROADRUNNER ENTERPRISES: Files for Chapter 11 Bankruptcy Protection
------------------------------------------------------------------
Louis Llovio at Richmond Times-Dispatch reports that Roadrunner
Enterprises Inc. filed for Chapter 11 bankruptcy protection on Feb.
6, 2015.

The Company said in its court filing that it has between $10
million and $50 million in assets and between $10 million and $50
million in liabilities.

Carl Adenauer, the Company's president, said in a statement that
the bankruptcy "will provide a framework for Roadrunner to
restructure its bank debt with the support of its lenders, in line
with operating income and capital needs, particularly in connection
with capital improvements being made at the campground."

In the statement, Mr. Adenauer assured that the Company "will
continue its normal operations during the reorganization, with no
disruption in service, and plans to honor all its tenant leases and
rent-to-own arrangements.  Roadrunner will continue to make changes
and improvements to its campground property and obtain all required
permits so that it can operate the facility."

According to Times-Dispatch, the Company is in an ongoing battle
with the state and Chesterfield, Virginia, over a series of issues
at the property.  The report says that the state and Chesterfield
have accused the Company of operating the facility on Jefferson
Davis Highway in Chester in violation of zoning rules and without a
health permit.

Headquartered in Chesterfield County, Virginia, Roadrunner
Enterprises Inc. owns the Roadrunner Campground and more than 70
rental properties, lots, and other real estate interests.


ROYALTY PARTNERS: Files for Chapter 11 Bankruptcy Protection
------------------------------------------------------------
Royalty Partners, LLC, filed for Chapter 11 bankruptcy protection
(Bankr. S.D. Tex. Case No. 15-60003) on Jan. 27, 2015, listing
$845,218 in total assets, versus $1.54 million in total
liabilities.  The petition was signed by W. Scott Thompson, Sr.,
manager.  

The Debtor's real property interests are in the Eagle Ford Shale,
making Victoria, Texas, the appropriate venue to file the
proceedings, Sergio Chapa at San Antonio Business Journal reports,
citing Larry A. Vick, Esq., who has an office in Houston, Texas,
and who serves as the Debtor's bankruptcy counsel.

Court documents show that the Debtor owes money to lawyers, several
individuals, and the parking garage at the building where its
office is located.  

Judge David R. Jones presides over the case.

Headquartered in Houston, Texas, Royalty Partners, LLC, was formed
to drill for oil and gas in unconventional resource-shale plays.
It uses the royalties it generates to invest in energy projects.
It directly employs less than 50 people.  The Company has
significant holdings in the Eagle Ford Shale.


SCIENTIFIC GAMES: Stone House Has 7.9% of Class A Shares
--------------------------------------------------------
Stone House Capital Management, LLC, and its affiliates disclosed
that as of Sept. 10, 2014, they beneficially owned 7,000,000 shares
of Class A common stock of Scientific Games Corporation
representing 7.9 percent of the shares outstanding.  A copy of the
regulatory filing is available at http://is.gd/mGqYh5

                        About Scientific Games

Scientific Games Corporation is a developer of technology-based
products and services and associated content for worldwide gaming
and lottery markets.  The Company's portfolio includes instant and
draw-based lottery games; electronic gaming machines and game
content; server-based lottery and gaming systems; sports betting
technology; loyalty and rewards programs; and social, mobile and
interactive content and services.  Visit
http://www.scientificgames.com/

Scientific Games reported a net loss of $30.2 million in 2013, a
net loss of $62.6 million in 2012 and a net loss of $12.6 million
in 2011.

The Company's balance sheet at Sept. 30, 2014, showed $4.03
billion in total assets, $3.93 billion in total liabilities and
$105.7 million in total stockholders' equity.

                           *     *     *

The TCR reported on May 21, 2014, that Moody's Investors Service
downgraded Scientific Games Corporation's ("SGC") Corporate Family
Rating to B1.  The downgrade reflects Moody's view that slower
than expected growth in SGC's Gaming and Instant Products segments
will cause Moody's adjusted leverage to exceed 6.0 times by the
end of 2014.

As reported by the TCR on Aug. 5, 2014, Standard & Poor's Ratings
Services lowered its corporate credit rating to 'B+' from 'BB-' on
Scientific Games Corp.

"The downgrade and CreditWatch placement follow Scientific Games'
announcement that it has agreed to acquire Bally Technologies for
$5.1 billion, including the refinancing of about $1.8 billion in
net debt at Bally," said Standard & Poor's credit analyst Ariel
Silverberg.


SEEGRID CORP: Exits Chapter 11 Bankruptcy
-----------------------------------------
Jon Springer at Supermarket News reports that Seegrid Corp. has
emerged from Chapter 11 bankruptcy protection.

As reported by the Troubled Company Reporter on Jan. 19, 2015,
Law360 reported that U.S. Bankruptcy Judge Brendan L. Shannon in
Delaware confirmed on Jan. 15 the Company's prepackaged Chapter
11 plan of reorganization.

David Shapira, executive chairperson of Giant Eagle, which partly
owns the Company, said in a statement, "We are excited that in
three short months, the Bankruptcy Court confirmed that the plan of
reorganization provides the best opportunity for Seegrid to fulfill
its considerable potential."

                    About Seegrid Corporation

Pittsburgh-based Seegrid Corporation is a developer of robotic
vision-guided automated vehicles.  It was founded in 2003 by two
Carnegie Mellon University robotic scientists, Hans Moravec and
Scott Friedman.

Seegrid Corporation filed for Chapter 11 bankruptcy protection
(Bank. D. Del. Case No. 14-12391) on Oct. 21, 2014, estimating its
assets at $1 million to $10 million and its debt at $50 million to
$100 million.  The Hon. Brendan Linehan Shannon presides over the
case.  The petition was signed by David Hellman, president.


SEGREST SALTWATER: Files for Chapter 11 Bankruptcy Protection
-------------------------------------------------------------
Segrest Saltwater Resources, LLC, filed for Chapter 11 bankruptcy
protection (Bankr. S.D. Tex. Case No. 15-20048) on Jan. 27, 2015,
listing $6.50 million in total assets and $849,885 in total
liabilities.  The petition was signed by Jason Segrest, managing
member.

According to Sergio Chapa at San Antonio Business Journal, the
Debtor filed for bankruptcy protection after a deal to create a
saltwater disposal well just south of San Antonio ended in a costly
legal dispute with Pyote Water Systems LLC among others.

Texas Railroad Commission records show that the Debtor was granted
a permit for the Hirsch No. 1 Saltwater Disposal well in November
2011.  According to court documents, the Debtor's affiliates own
the land and entered into a joint operating agreement with Pyote
Water to operate it as a disposal well.  The Debtor alleges that
Pyote Water mismanaged the site creating more than $400,000 in
damages and other costs, Business Journal relates.

Business Journal states that the legal dispute remains pending
before the Texas 4th Court of Appeals in San Antonio.

Judge Richard S. Schmidt, who presides over the bankruptcy case,
ordered a hearing for the Debtor to take place in Corpus Christi on
June 1, 2015, Business Journal says.

Shelby A Jordan, Esq., at Jordan Hyden Womble Culbreth & Holzer,
PC, serves as the Debtor's bankruptcy counsel.

Segrest Saltwater Resources, LLC, is headquartered in Corpus
Christi, Texas.


SEVEN SISTERS: Keith Rehbein Buys Assets for Nearly $3MM
--------------------------------------------------------
Diane Lederman at Masslive.com reports that Sweet Meadow Farm owner
Keith Rehbein has acquired Seven Sisters Bistro, the agricultural
land, and a commercial parcel for almost $3 million at a Feb. 4,
2015 auction.

According to Masslive.com, Mr. Rehbein bought the bistro and
two-story family home for $900,000 plus a $443,000 first mortgage,
and paid $1.25 million for the four-acre commercial parcel and
$410,000 for the 32.25 acres of farmland that is agricultural
preservation restriction, which must remain restricted.

Masslive.com relates that Chicopee Savings Bank was the only other
bidder for the bistro and commercial parcels.  Masslive.com says
that Seven Sisters owner Paul Ciaglo failed to the pay the $1.27
million mortgage to the bank for the bistro.  Citing town
officials, the report states that Mr. Ciaglo owed more than $4
million on the parcels.

Mr. Rehbein said he does not plan to move into the house,
Masslive.com reports.  Mr. Rehbein, according to Masslive.com, said
he will open a vegan restaurant with his partner Ted Crooker.

                           Seven Sisters

Headquartered in Hadley, Massachusetts, Seven Sisters Market
Bistro, Inc., filed for Chapter 11 bankruptcy protection (Bankr. D.
Mass. Case No. 14-30417) on April 23, 2014, listing up to $50,000
in estimated assets and $1 million to $10 million in estimated
liabilities.  The petition was signed by Paul Ciaglo, president.
Judge Henry J. Boroff presides over the case.  Jeffrey J. Cymrot,
Esq., at Sassoon And Cymrot LLP, serves as the Debtor's bankruptcy
counsel.

Paul Ciaglo filed for Chapter 11 bankruptcy protection (Bankr. D.
Mass. Case No. 14-30416) on April 23, 2014.  According to a report
by Dave Eisenstadter at Gazettenet.com, the Court, at the behest of
Chicopee Savings Bank, changed the proceeding to Chapter 7 in
October 2014.


SILVERSUN TECHNOLOGIES: Amends 701,754 Common Shares Prospectus
---------------------------------------------------------------
SilverSun Technologies, Inc., has amended its Form S-1 registration
statement relating to the offering of 701,754 shares of its common
stock.  Currently, the Company's Common Stock is quoted on the
OTCQB Marketplace operated by the OTC Markets Group, under the
symbol "SSNT".  The last reported sale price of the Company's
Common Stock on the OTCQB on Feb. 4, 2015, was $5.70 per share.  On
Feb. 4, 2015, the Company effected a 1-for-30 reverse stock split
of its outstanding common stock.  For 20 days following the
effectiveness of the Reverse Stock Split, the Company's common
stock will be quoted on the OTCQB under the symbol "SSNTD".  A
full-text copy of the Form S-1/A is available for free at
http://is.gd/QFg8pQ

                          About SilverSun

Livingston, N.J.-based SilverSun Technologies, Inc., formerly
known as Trey Resources, Inc., focuses on the business software
and information technology consulting market, and is looking to
acquire other companies in this industry.  SWK Technologies, Inc.,
the Company's subsidiary and the surviving company from the
acquisition and merger with SWK, Inc., is a New Jersey-based
information technology company, value added reseller, and master
developer of licensed accounting and financial software published
by Sage Software.  SWK  Technologies also publishes its own
proprietary supply-chain software, the Electronic Data Interchange
(EDI) solution "MAPADOC."  SWK Technologies sells services and
products to various end users, manufacturers, wholesalers and
distribution industry clients located throughout the United
States, along with network services provided by the Company.

Silversun Technologies posted net income of $322,548 on $17.40
million of net total revenues for the year ended Dec. 31, 2013, as
compared with a net loss of $1.23 million on $13.17 million of net
total revenues for the year ended Dec. 31, 2012.

As of Sept. 30, 2014, the Company had $5.12 million in total
assets, $4.89 million in total liabilities and $238,000 in total
stockholders' equity.


SKYLINE MANOR: Ensign Group Acquires Two Operations
---------------------------------------------------
The Ensign Group, Inc., has acquired Skyline Nursing and
Rehabilitation, a 100-bed skilled nursing operation, and Skyline
Assisted and Independent Living, an independent living, assisted
living, and seniors apartment operation with 209 units.  The
acquisition, which includes the real estate, was made in connection
with the Chapter 11 bankruptcy filed by Skyline Manor, Inc., in May
2014 and was effective Feb. 1, 2015.

"We are excited to strengthen our presence in the city of Omaha
with this well-respected retirement community.  We hope that
Skyline's residents and their families, as well as the team of
caregivers, can move past this recent period of uncertainty with
confidence that Skyline is now part of the Ensign family has a
healthy and bright future ahead,"  said Christopher Christensen,
Ensign's President and Chief Executive Officer.

"We acknowledge the important position that Skyline has played in
this healthcare community and are anxious to begin working with
this outstanding team of caregivers as we strive to exceed the
clinical, emotional and social needs of each resident we are
honored to serve," said John Gurrieri, President of Bridgestone
Living, LLC, Ensign's seniors housing subsidiary.  Ensign expects
operations in Skyline, which had an occupancy rate of approximately
69%at acquisition, to be mildly accretive to earnings in 2015.

                        About Ensign(TM)

Independent operating subsidiaries of The Ensign Group, Inc. --
http://www.ensigngroup.net-- provide a broad spectrum of skilled
nursing and assisted living services, physical, occupational and
speech therapies, home health and home care services, hospice
services, urgent care services and other rehabilitative and
healthcare services at 143 facilities, eleven hospice agencies,
thirteen home health agencies, two home care businesses and sixteen
urgent care clinics in California, Arizona, Texas, Washington,
Utah, Idaho, Colorado, Nevada, Iowa, Nebraska, Oregon and
Wisconsin.

                       About Skyline Manor

Skyline Manor Inc. is a Nebraska non-profit corporation that
operates a 199-unit continuing care retirement community and a 140
unit independent living facility in Omaha.  Skyline Manor filed a
Chapter 11 bankruptcy petition (Bankr. D. Neb. Case No. 14-80934)
on May 8, 2014.  The petition was signed by John W. Bartle as
chief restructuring officer.  Judge Thomas L. Saladino presides
over the case.

The Debtor disclosed $19,892,926 in assets and $13,732,877 in
liabilities as of the Chapter 11 filing.

Mr. Ross has been appointed as the Chapter 11 trustee for Skyline
Manor.


SKYMALL LLC: ScotteVest Eyeing Assets, Might Rename Service
-----------------------------------------------------------
CNNMoney reports that ScotteVest chief executive Scott Jordan plans
to bid for SkyMall, LLC's assets.  ScotteVest has signed a
non-disclosure agreement with the Company, John Jannarone at CNBC
adds, citing Mr. Jordan.

Tim Gallen at Phoenix Business Journal relates that Mr. Jordan's
products have been featured in the SkyMall catalog, and he said
this gives him a unique perspective in how the Company has
operated, and believes a revamped business model.

According to Business Journal, Mr. Jordan proposes that the Company
partner with in-flight Internet providers to allow clients to buy
directly from vendors' websites.  The report says that with the new
model, the Company wouldn't have to stock products or fulfill
orders.  Mr. Jordan would likely rename the service, the report
states.

Dan Whitlatch, who sold his TowlHub invention in the SkyMall
magazine, said that he had no idea the catalog was in financial
trouble, and that the Company sent an e-mail "saying they're going
through Chapter 11 and they're not going to pay us on anything
before Jan. 22nd," Jessica Peres at ABC30.com reports.

Alex Davies, writing for Wired.com, says that the Company's
bankruptcy could save American Airlines $350,00 per year on fuel,
because the airline will no longer carry the catalog in every
seat-back pocket.

                        About SkyMall LLC

Headquartered in Phoenix, Arizona, SkyMall, LLC, is the company
behind the ubiquitous in-flight catalogs known for kitschy items
that include Bigfoot Garden Yeti statues, night glow toilet seats
and cat litter robots.

Affiliates SkyMall, LLC, fka SkyMall, Inc. (Bankr. D. Ariz. Case
No. 15-00679), Xhibit Corp., fka NB Manufacturing, Inc. (Bankr. D.
Ariz. Case No. 15-00680), Xhibit Interactive, LLC, fka Xhibit, LLC
(Bankr. D. Ariz. Case No. 15-00682), FlyReply Corp. (Bankr. D.
Ariz. Case No. 15-00684), SHC Parent Corp. (Bankr. D. Ariz. Case
No. 15-00685), SpyFire Interactive, LLC (Bankr. D. Ariz. Case No.
15-00686), Stacked Digital, LLC (Bankr. D. Ariz. Case No.
15-00687), and SkyMall Interests, LLC (Bankr. D. Ariz. Case No.
15-00688) filed separate Chapter 11 bankruptcy petitions on Jan.
22, 2014.  The petitions were signed by Scott Wiley, authorized
signatory.

Judge Brenda K. Martin presides over SkyMall, LLC's case, while
Judge Madeleine C. Wanslee presides over Xhibit Corp.'s and SHC
Parent Corp.'s cases.

John A. Harris, Esq., at Quarles & Brady LLP serves as the Debtors'
bankruptcy counsel.

Cohnreznick Capital Market Securities, LLC, is the Debtors'
financial advisor.

SkyMall, LLC, estimated its assets at between $1 million and $10
million, and its liabilities at between $10 million and $50
million.  Xhibit Corp. estimates its assets and liabilities at
between $100,000 and $500,000 each.  Xhibit Interactive, LLC,
estimates its assets and liabilities at up to $50,000 each.  SHC
Parent Corp. estimates its assets and liabilities at up to $50,000
each.


STATE FISH: Maritime Products Biggest Loser in Co.'s Failure
------------------------------------------------------------
Intrafish.com reports that Maritime Products International is the
biggest loser in State Fish Co.'s failure.  According to court
documents, the Company owes Maritime Products $414,800 in trade
debt.

Intrafish.com relates that other companies owed include:

      (a) Peruvian group Sercosta, which is owed more than
          $150,000;

      (b) Ammon International, which is owed $117,250;

      (c) Bornstein Seafoods, owed more than $67,347;

      (d) TM Sales;

      (e) TFI Foods;

      (f) Sea Catch;

      (g) Queen City Seafood;

      (h) Bayside Seafood;

      (i) Caito Fisheries; and

      (j) ZF America nka Zoneo.

                         About State Fish

State Fish Co., Inc., was founded in 1932 and began as a small
local wholesale fish buyer in California.  Under the leadership of
Sam DeLuca, State Fish expanded from a small fresh fish company to
an internationally-known import and export company operating its
own processing and cold store facilities near the Port of Los
Angeles. Calpack Foods, LLC, a wholly owned subsidiary, was formed
in April 2012 to produce high quality food and beverage products.

State Fish and Calpack Foods filed voluntary Chapter 11 bankruptcy
petitions (C.D. Cal. Lead Case No. 15-11084) on Jan. 26, 2015,
amid a family dispute and liquidity woes brought by declining fish
catches.  State Fish estimated assets and liabilities of $10
million to $50 million.

The Hon. Sandra R. Klein presides over the jointly administered
cases.  Amir Gamliel, Esq., and Alan D Smith, Esq., at Perkins
Coie LLP, serve as the Debtors' counsel.  George Blanco, at Avant
Advisory Group, acts as chief restructuring officer.

The schedules of assets and liabilities and statement of financial
affairs are due Feb. 9, 2015.


SUNQUEST PROPERTIES: S&P Lowers Rating on 2005 Bonds to 'BB+'
-------------------------------------------------------------
Standard & Poor's Ratings Services lowered its rating on Louisiana
Housing Finance Agency's (Peppermill I and II Apartments project)
series 2005 multifamily housing revenue bonds, issued for Sunquest
Properties Inc., nine notches to 'BB+' from 'AA+'.  The bonds are
backed by a mortgage loan secured by an irrevocable standby Fannie
Mae credit enhancement facility.  The outlook is stable.  

This action reflects Standard & Poor's view of the project's
inability to sufficiently pay full and timely debt service on the
bonds, coupled with its reliance on short-term, market-rate
investments.

"We could take further negative rating action during the two-year
outlook period if the project's financial information, based on our
stressed reinvestment rate assumptions, leads us to believe it will
be unable to meet all bond costs from transaction revenues, or if
projected debt service coverage ratios fall below a level in-line
with a 'BB+' rating," said Standard & Poor's credit analyst Ki Beom
K. Park.  "Conversely, should debt service coverage improve to a
level commensurate with a higher rating category, we could raise
the rating."

The downgrade follows the ratings service's review of updated
financial information for the project, factoring stressed
reinvestment rate assumptions for all scenarios in accordance with
Standard & Poor's rating criteria, along with the project's
reliance on short-term, market-rate investments.



TARGETED MEDICAL: Paul Pelosi Quits From Board
----------------------------------------------
Mr. Paul Pelosi Jr., resigned from the Board of Directors of
Targeted Medical Pharma, Inc., on Feb. 2, 2015, to focus on other
business activities, according to a regulatory filing with the U.S.
Securities and Exchange Commission.  At the time of his
resignation, Mr. Pelosi served as a member of the Audit Committee,
the Compensation Committee and the Nominating Committee.  Mr.
Pelosi did not resign as a result of any disagreement with the
Company on any matter relating to the Company's operations,
policies or practices.

                       About Targeted Medical

Los Angeles, Calif.-based Targeted Medical Pharma, Inc., is a
specialty pharmaceutical company that develops and commercializes
nutrient- and pharmaceutical-based therapeutic systems.

Targeted Medical reported a net loss of $9.33 million on
$9.55 million of total revenue for the year ended Dec. 31, 2013,
as compared with a net loss of $9.58 million on $7.29 million of
total revenue in 2012.

Marcum LLP, in Irvine, CA, issued a "going concern" qualification
on the consolidated financial statements for the year ended
Dec. 31, 2013.  The independent auditors noted that the Company
has incurred significant net losses since its inception, and has
an accumulated deficit of $23.0 million as of Dec. 31, 2013, and
incurred a net loss of $9.34 million and negative cash flows from
operations of $2.047 million for the year ended Dec. 31, 2013.

The Company's balance sheet at Sept. 30, 2014, showed $3.22 million
in total assets, $11.9 million in total liabilities, and a $8.70
million stockholders' deficit.


TECHPRECISION CORP: Somerset Reports 7.8% Stake as of Dec. 31
-------------------------------------------------------------
Somerset Capital Advisers, LLC, and Michael Schaenen diclosed in a
regulatory filing with the U.S. Securities and Exchange Commission
that as of Dec. 31, 2014, they beneficially owned 1,932,329 shares
of common stock of Techprecision Corporation representing 7.8
percent of the shares outstanding.  A copy of the regulatory filing
is available at http://is.gd/Ks99PL

                         About TechPrecision

TechPrecision Corporation (OTC BB: TPCSE), through its wholly
owned subsidiaries, Ranor, Inc., and Wuxi Critical Mechanical
Components Co., Ltd., globally manufactures large-scale, metal
fabricated and machined precision components and equipment.

TechPrecision reported a net loss of $7.09 million for the year
ended March 31, 2014, as compared with a net loss of $2.41 million
for the year ended March 31, 2013.

The Company's balance sheet at Sept. 30, 2014, showed
$14.8 million in total assets, $13 million in total liabilities,
and stockholders' equity of $1.82 million.

At June 30, 2014, TechPrecision had negative working capital of
$3.4 million as compared with negative working capital of
$2 million at March 31, 2014.  As of June 30, 2014, the Company
had $0.9 million in cash and cash equivalents compared to
$1.1 million at March 31, 2014.

KPMG LLP, in Philadelphia, Pennsylvania, issued a "going concern"
qualification on the consolidated financial statements for the
year ended March 31, 2013.  The independent auditors noted that
the Company was not in compliance with the fixed charges and
interest coverage financial covenants under their credit facility,
and the Bank has not agreed to waive the non-compliance with the
covenants.  Since the Company is in default, the Bank has the
right to accelerate payment of the debt in full upon 60 days
written notice.  The Company has suffered recurring losses from
operations, and the Company's liquidity may not be sufficient to
meet its debt service requirements as they come due over the next
twelve months.  These circumstances raise substantial doubt about
the Company's ability to continue as a going concern.


TELEXFREE LLC: Ch 11 Trustee Says Over $17MM of Assets Recovered
----------------------------------------------------------------
Scott O'Connell at Wicked Local Marlborough reports that Stephen B.
Darr, Chapter 11 Trustee for TelexFREE, in a status report filed on
Feb. 3, 2015, said that to date, he has recovered more than $17
million of the Company's assets, including around $11 million in
credit card charge-backs.

Citing Mr. Darr, Wicked Local Marlborough relates that more than
25,000 participants have filed proofs of claim since the Company's
Chapter 11 filing in April 2014.  

According to Wicked Local Marlborough, Mr. Darr said that he has
been able to piece together the Company's virtual data system,
which he said was riddled with flaws.  The report quoted Mr. Darr
as saying, "The developers apparently lacked the expertise to
create and manage a system of this magnitude.  As a result, system
modifications were often done in a haphazard and disorganized
fashion."

The Company was generating as much as $50 million in cash a month
by early 2014, and by April 2014, both companies had raised
combined non-cash revenue of around $4.2 billion, Wicked Local
Marlborough states, citing Mr. Darr.  According to the report,
authorities allege that much of that income came from an illegal
scheme in which the Company enticed "promoters" to post its ads for
pay and recruit others to do the same.  The report says that Mr.
Darr is still trying to track down those funds, saying in his
report he is specifically looking at tax refunds and foreign
accounts as possible sources.

Mr. Darr said in his status report that he will file schedules and
statements in the case by the end of February, Wicked Local
Marlborough reports.

                         About TelexFREE

TelexFREE -- http://www.TelexFREE.com-- is a telecommunications  
business that uses multi-level marketing to assist in the
distribution of voice over internet protocol telephone services.
TelexFREE's retail VoIP product, 99TelexFREE, allows for unlimited
international calling to seventy countries for a flat monthly rate
of $49.90.  TelexFREE has over 700,000 associates or promoters
worldwide.

The company believes the sales of the 99TelexFREE product, the
TelexFREE "app," and other new products will ultimately prove
successful and profitable.  The company is struggling, however,
with several factors that required it to seek chapter 11
protection.  First, the Company experienced exponential growth in
revenue between 2012 and 2013 (from de minimus amounts to over
$1 billion), which put tremendous pressure on the Company's
financial, operational and management systems.  Second, although
the company revised its original compensation plan to promoters in
order to address certain questions that were raised regarding such
plan, the company believes that the plans need to be further
revised.  Finally, the trailing liabilities arising from the
original compensation plan are difficult to quantify and have
resulted in substantial asserted liabilities against the company,
a number of which may not be valid.

TelexFREE LLC and two affiliates sought bankruptcy protection
(Bankr. D. Nev. Lead Case No. 14-12525) on April 13, 2014.

Alvarez & Marsal North America, LLC is serving as restructuring
advisor and Greenberg Traurig, LLP and Gordon Silver are serving
as legal advisors to TelexFREE.  Kurtzman Carson Consultants LLC
serves as claims and noticing agent.

TelexFREE, LLC, estimated $50 million to $100 million in assets
and $100 million to $500 million in liabilities.

TelexFREE is facing accusations of operating a $1 billion-plus
pyramid scheme.

In May, the Court approved the motion by the U.S. Securities &
Exchange Commission to transfer the venue of the Debtors' cases to
the U.S. Bankruptcy Court, District of Massachusetts (Bankr. D.
Mass. Case Nos. 14-40987, 14-40988 and 14-40989).  The Court
entered an order in relation to the venue transfer stating that
the cases remain jointly administered, and KCC will continue to
serve as claims processing agent.

The Debtors had opposed to the motion, stating that while the SEC
contends that the Massachusetts Bankruptcy Court is more
convenient for the SEC, the SEC has failed entirely to meet its
burden to show that the Massachusetts Bankruptcy Court is better
than the Nevada Bankruptcy Court for administration of the Chapter
11 Cases.  The Debtors chose the Nevada Bankruptcy Court because,
inter alia, TelexFREE Nevada, a Nevada entity, is a counter-party
to more than 700,000 contracts governed by Nevada law.

A creditors' committee has not yet been appointed in the Chapter
11 Cases.


TRANSGENOMIC INC: To Sell $50 Million Worth of Securities
---------------------------------------------------------
Transgenomic, Inc., said it may offer and sell up to $50,000,000 in
the aggregate of any combination of common stock, preferred stock,
debt securities, warrants and units.  The Company's common stock is
currently listed on the NASDAQ Capital Market under the symbol
"TBIO".  On Feb. 3, 2015, the last reported sale price for the
Company's common stock was $3.32 per share.  A copy of the Form S-1
registration statement is available at:

                         http://is.gd/j49ioF

                         About Transgenomic

Transgenomic, Inc. -- http://www.transgenomic.com/-- is a global
biotechnology company advancing personalized medicine in
cardiology, oncology, and inherited diseases through its
proprietary molecular technologies and world-class clinical and
research services.  The Company is a global leader in cardiac
genetic testing with a family of innovative products, including
its C-GAAP test, designed to detect gene mutations which indicate
cardiac disorders, or which can lead to serious adverse events.
Transgenomic has three complementary business divisions:
Transgenomic Clinical Laboratories, which specializes in molecular
diagnostics for cardiology, oncology, neurology, and mitochondrial
disorders; Transgenomic Pharmacogenomic Services, a contract
research laboratory that specializes in supporting all phases of
pre-clinical and clinical trials for oncology drugs in
development; and Transgenomic Diagnostic Tools, which produces
equipment, reagents, and other consumables that empower clinical
and research applications in molecular testing and cytogenetics.
Transgenomic believes there is significant opportunity for
continued growth across all three businesses by leveraging their
synergistic capabilities, technologies, and expertise.  The
Company actively develops and acquires new technology and other
intellectual property that strengthens its leadership in
personalized medicine.

The Company reported a net loss available to common stockholders
of $16.7 million in 2013, a net loss available to common
stockholders of $8.98 million in 2012 and a net loss available to
common stockholders of $10.8 million in 2011.

The Company's balance sheet at Sept. 30, 2014, showed $30.8
million in total assets, $20.6 million in total liabilities and
$10.2 million in stockholders' equity.


TS EMPLOYMENT: Section 341(a) Meeting Scheduled for March 12
------------------------------------------------------------
A meeting of creditors in the bankruptcy case of TS Employment Inc.
will be held on March 12, 2015, at 2:30 p.m. at 80 Broad St., 4th
Floor, USTM.

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.

                         About TS Employment

Based in New York, TS Employment Inc. is a professional employer
organization that provides payroll-related services.  Its only
customer is publicly held Corporate Resource Services, Inc., a
diversified technology, staffing, recruiting, and consulting
services firm.  TS processes payroll of up to 30,000 employees.

TS Employment sought Chapter 11 for protection (Bankr. S.D.N.Y.
Case No. 15-10243) in Manhattan on Feb. 2, 2015.  Judge Martin
Glenn is assigned to the case.

The Debtor estimated at least $100 million in assets and debt.

The Debtor tapped Scott S. Markowitz, Esq., at Tarter Krinsky &
Drogin LLP, in New York, as counsel.  Realization Services Inc.
serves as the Debtor's consultant.


ULTIMATE NUTRITION: Committee Balks at TD's Conversion Bid
----------------------------------------------------------
The Official Committee of Unsecured Creditors in the Chapter 11
cases of Ultimate Nutrition, Inc., and Prostar, Inc., objected to
TD Bank, N.A.'s motion for case conversion to one under Chapter 7;
or in the alternative, dismissal of the case or appointment of a
Chapter 11 trustee.

On Jan. 22, 2014, TD Bank filed for the relief stating that, among
other things:

   -- There is an unexplained diminution in value of the
collateral;

   -- The Debtor failed to adhere to the requirements of the budget
detrimental to creditors;

   -- The Debtor failed to file schedules in violation of the
Section 1007(b) & (c) of the Bankruptcy Court; and

   -- The Debtor failed to file monthly operating report.  

In its objection, the Committee asserted that converting or
dismissing the Debtors' cases at this early stage would not serve
the best interests of creditors.

The Committee believes that the Debtors' businesses are worth
significantly more as going-concerns than in liquidation.

                     About Ultimate Nutrition

Ultimate Nutrition, Inc., develops and distributes nutritional
supplements for body building, enhanced athletic performance and
fitness.  The products are sold worldwide in over 100 countries.
The business was founded in 1979 by the late Victor H. Rubino, one
of the top amateur power lifters in the United States at that
time.
The company has two facilities located in Farmington,
Connecticut, one product distribution center in New Britain,
Connecticut and a research and development center in West Palm
Beach, Florida.

Ultimate Nutrition and affiliate Prostar, Inc., sought Chapter 11
bankruptcy protection (Bankr. D. Conn. Case Nos. 14-22402 and
14-22403) on Dec. 17, 2014.

On Dec. 19, 2014, the Court entered an order directing the joint
administration of the Debtors' cases for procedural purposes.

The Debtors have tapped Pullman & Comley, in Bridgeport,
Connecticut, as counsel; LaQuerre Michaud & Company, LLC, as
accountant; and Marcum LLP, as financial advisor.

Ultimate Nutrition estimated $10 million to $50 million in assets
and debt.  

The 11 U.S.C. Sec. 341(a) meeting of creditors is slated for
Jan. 14, 2015.  The deadline to file claims is April 14, 2015.

The U.S. Trustee for Region 2 appointed three creditors of to serve
on the official committee of unsecured creditors. The Committee has
selected Lowenstein Sandler, LLP to serve as its counsel, and
Neubert, Pepe & Monteith, P.C. to serve as its local counsel.



ULTIMATE NUTRITION: Gets Final Approval to Use Cash Collateral
--------------------------------------------------------------
The Bankruptcy Court authorized, on a final basis, Ultimate
Nutrition, Inc., et al., to use cash collateral.

According to the Debtors' case docket, upon the filing of a motion
for continued use of cash collateral, a hearing will be set for
April 30, 2015 at 10:00 a.m.

The Debtor is authorized to use funds that constitute cash
collateral of TD Bank, N.A., pursuant to certain prepetition
financing arrangements, to fund their business operations.

As adequate protection from any diminution in value of the lender's
collateral, the Debtor will grant the lender replacement liens to
personal property and assets of the Debtors, a superpriority
administrative expense claim status, subject to
carve-out.

As reported in the Troubled Company Reporter on Dec. 29, 2014,
TD extended prepetition financing to the Debtors and certain of
their affiliates pursuant to the following:

   (a) a revolving credit and term loan agreement entered into on
       Jan. 20, 2012, under which the amount of approximately
       $8,007,000 was due and owing as of the Petition Date;

   (b) a term loan evidenced by a term note dated Jan. 20, 2012,
       under which approximately $2,417,000 was due and owing as
       of the Petition Date;

   (c) an export revolving line of credit facility entered into on
       March 17, 2009, under which approximately $1,662,000 was
       due and owing as of the Petition Date;

   (d) an equipment line of credit entered into Nov. 8, 2011,
       under which approximately $1,084,000 was due and owing as
       of the Petition Date;

   (e) unlimited continuing guaranty agreements, each dated
       March 17, 2009, under which approximately $1,258,000 was
       due and owing as of the Petition Date.

                      Response and Objections

The Debtors, in response to the omnibus objection of Farmington
Bank to the Debtors' motions, requested that the Court overrule the
objection because:

   1. the alleged overdraft position in the Debtor's Farmington
Bank account, in the amount of $56,855, is believed to have been
caused by the untimely or otherwise improper return by TD Bank,
N.A. of the checks the Debtor wrote on its account with TD and
deposited into the FB Bank account; and

   2. FB's objection to the Debtor's use of cash collateral and the
retention of the Debtor's attorneys and accountants is without
basis.

The Official Committee of Unsecured Creditors expressed support to
the Debtors' continued use of cash collateral.  However, the
Committee submits that certain provisions of the Second Interim
Order must be modified in the final order, particularly as:

   1. the final order provide that any increases in cash
disbursements and operating expenditures must require not only the
written consent of TD Bank, but also the written consent of the
Committee;

   2. the final order provide that these written accountings and
certificates also be provided to the Committee; and

   3. the final order expressly state that the replacement liens
granted to TD Bank as adequate protection must not attach to
avoidance actions (preferences, fraudulent conveyances, etc.) or
their proceeds.

                     About Ultimate Nutrition

Ultimate Nutrition, Inc., develops and distributes nutritional
supplements for body building, enhanced athletic performance and
fitness.  The products are sold worldwide in over 100 countries.
The business was founded in 1979 by the late Victor H. Rubino, one
of the top amateur power lifters in the United States at that
time.

The company has two facilities located in Farmington,
Connecticut, one product distribution center in New Britain,
Connecticut and a research and development center in West Palm
Beach, Florida.

Ultimate Nutrition and affiliate Prostar, Inc., sought Chapter 11
bankruptcy protection (Bankr. D. Conn. Case Nos. 14-22402 and
14-22403) on Dec. 17, 2014.

On Dec. 19, 2014, the Court entered an order directing the joint
administration of the Debtors' cases for procedural purposes.

The Debtors have tapped Pullman & Comley, in Bridgeport,
Connecticut, as counsel; LaQuerre Michaud & Company, LLC, as
accountant; and Marcum LLP, as financial advisor.

Ultimate Nutrition estimated $10 million to $50 million in assets
and debt.  

The 11 U.S.C. Sec. 341(a) meeting of creditors is slated for
Jan. 14, 2015.  The deadline to file claims is April 14, 2015.

The U.S. Trustee for Region 2 appointed three creditors of to serve
on the official committee of unsecured creditors. The Committee has
selected Lowenstein Sandler, LLP to serve as its counsel, and
Neubert, Pepe & Monteith, P.C. to serve as its local counsel.



UMEWORLD LTD: AWC (CPA) Ltd. Expresses Going Concern Doubt
----------------------------------------------------------
UMeWorld Limited filed with the U.S. Securities and Exchange
Commission its annual report on Form 20-F for the fiscal year ended
Sept. 30, 2014.

AWC (CPA) Limited expressed substantial doubt about the Company's
ability to continue as a going concern, citing that the Company has
suffered recurring losses from operations and had working capital
deficiency of $40,800 at Sept. 30, 2014, as compared to a working
capital of $594,000 as at Sept. 30, 2013.

The Company reported a net loss of $3.86 million on $nil of total
revenues for the fiscal year ended Sept. 30, 2014, compared with a
net loss of $19.6 million on $760,300 of total revenues in fiscal
2013.

The Company's balance sheet at Sept. 30, 2014, showed $1.37 million
in total assets, $2.23 million in total liabilities, and
stockholders' deficit of $856,000.

A copy of the Form 20-F is available at:

                       http://is.gd/RZ3xWS

UMeWorld Limited operates in the digital media business.  The
company operates UMeLook, an online video platform that focuses on
bringing foreign video content to China.  It deploys UMeLook
through a content delivery network with a range of coverage in
Mainland China, Hong Kong, and Taiwan.  The company was formerly
known as AlphaRx, Inc. and changed its name to UMeWorld Limited in
April 2013 to reflect the company's focus and direction.  UMeWorld
Limited is based in Causeway Bay, Hong Kong.

Albert Wong & Co. expressed substantial doubt about the
Company's ability to continue as a going concern, citing that the
Company has suffered recurring losses from operations and had
working capital of approximately $594,000 at Sept. 30, 2013, as
compared to a working capital deficiency of $19.02 million at
Sept. 30, 2012.

The Company reported a net loss of $233,000 on $760,000 of total
revenues for the fiscal year ended Sept. 30, 2013, compared with a
net loss of $92,900 on $167,000 of total revenues in fiscal 2012.

The Company's balance sheet at Sept. 30, 2013, showed $2 million
in total assets, $1.68 million in total liabilities, and
stockholders' equity of $318,000.



UNIVAR N.V.: Bank Debt Trades at 3% Off
---------------------------------------
Participations in a syndicated loan under which Univar N.V. is a
borrower traded in the secondary market at 97.27
cents-on-the-dollar during the week ended Friday, Feb. 6, 2015,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in The Wall Street Journal.  This represents an increase
of 1.04 percentage points from the previous week, The Journal
relates.  Univar N.V. pays 350 basis points above LIBOR to borrow
under the facility.  The bank loan matures on June 30, 2017.  The
bank debt carries Moody's B3 rating and Standard & Poor's B+
rating.  The loan is one of the biggest gainers and losers among
197 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended Friday.



VERIS GOLD: Obtains Extension of CCAA Stay Period
-------------------------------------------------
Veris Gold Corp. on Feb. 3 disclosed that it has obtained an order
from the Supreme Court of British Columbia (the "Court") as of
February 2, 2015 extending the period of the Court-ordered stay of
proceeding against Veris and its subsidiaries under the Companies'
Creditors Arrangement Act ("CCAA") up to and including February 23,
2015.

The sales process deadline for a potential bidder to deliver a
qualified bid, as defined in the Sales and Solicitations Procedures
("SSP") included in the Sales Process Order and subsequently
extended, was January 30, 2015.  The Company is currently reviewing
the results of the SSP in conjunction with Deutsche Bank AG and the
Debtor-in-Possession Lender, Whitebox Advisors LLC.  The Monitor
will provide a further update on these results in its next report
to the Court.

The Company has been operating under the protection of the CCAA and
the U.S. Bankruptcy Code since June 9, 2014.

All inquiries regarding Veris' CCAA proceedings should be directed
to the Monitor, Ernst & Young, Inc.: Mr. Rocky Ho at (604)
891-8425.  Information about the CCAA proceedings, including copies
of all court orders and the Monitor's reports, is available on the
Monitor's website: www.ey.com/ca/verisgold

                    About Veris Gold Corp.

Veris Gold Corp. -- http://www.verisgold.com-- is a growing
mid-tier North American gold producer in the business of developing
and operating gold mines in geo-politically stable jurisdictions.
The Company's primary assets are the permitted and operating
Jerritt Canyon processing plant and gold mines located 50 miles
north of Elko, Nevada, USA.  The Company's primary focus is on the
re-development of the Jerritt Canyon mining and processing plant.
The Company also holds a portfolio of precious metals properties in
British Columbia and the Yukon Territory, Canada, including the
Ketza River Property.


VERTICAL COMPUTER: Files Report on Continuation Patent
------------------------------------------------------
Vertical Computer Systems, Inc., filed a report with the U.S.
Securities and Exchange Commission to provide further explanation
concerning the issuance of its continuation patent United States
Patent No. 8,949,780 and the retention of the Company's new patent
licensing counsel.  The report also provides background on the past
strategy concerning the three patents that are the foundation of
the Company's SiteFlash technology, as well as guidance on future
action contemplated by the Company.

The issuance of U.S. Patent No. 8,949,780 is a continuation patent
of U.S. Patent No. 7,716,629 (which in turn is a continuation of
U.S. Patent No. 6,826,744, and strengthens the Company's
proprietary technology concerning these patents.

                 Summary of Past SiteFlash Patent
                    Licensing and Litigation

The Company has been successful in securing patent licenses for the
SiteFlash patents with Microsoft Corporation, LG Electronics
MobileComm U.S.A., Inc. and LG Electronics, Inc., Samsung
Electronics Co., Ltd., and Samsung Electronics America, Inc., and
Interwoven, Inc.

Each of these patent licenses consisted of a non-exclusive, fully
paid-up license under the original patent (U.S. Patent No.
6,826,744), plus any continuation patents, which include U.S.
Patent No. 7,716,629, its continuation patent U.S. Patent No.
8,949,780, and any future continuation patents.  A fully paid up
license means a flat amount of cash was paid to VCSY, and the
licensee is able to utilize the SiteFlash Patents without owing any
further payments.  The settlement agreements and the terms hereof
are subject to standard confidentiality provisions and accordingly,
the terms may only be disclosed in limited circumstances.
Consequently, VCSY is limited in what it may publicly or privately
disclose about any settlements reached in connection with the
SiteFlash patents.

In the course of litigation that resulted in these patent licenses,
certain court documents and filings are publicly available, while
other documents and filings are put under seal by the respective
court and made confidential.

VCSY has prevailed in the Markman hearings related to Interwoven
(in U.S. District Court for the Northern District of California)
and related to LG and Samsung (in U.S. District Court for the
Eastern District of Texas), and has also prevailed in several
summary judgment motions as well.  The motions, hearings, and
rulings for the foregoing items are of public record.

During the litigation with LG and Samsung, the U.S. District Court
for the Eastern District of Texas court ordered mediation between
the parties. With LG, the settlement amount was determined during
the course of the mediation, and with Samsung the parties also
negotiated a settlement agreement through the mediator assigned by
the court.

In the litigation with Interwoven, the parties participated in
numerous court ordered mediations.  Prior to the commencement of
the trial phase, the parties reached a settlement agreement.

VCSY has also successfully maintained the SiteFlash Patents over ex
parte re-examinations by the USPTO and, a continuation patent will
be issued thereby expanding the scope and claims of the SiteFlash
Patents.

           Guidance for Future SiteFlash Patents Licensing

The Company believes there have been fundamental changes in the
patent law since VCSY first commenced litigation relating to the
SiteFlash Patents, and these changes have material implications on
the litigation strategy and potential risks and rewards on how the
Company should proceed in the future.  Additionally, there has been
a continuous effort in Congress to minimize software patents and
more importantly, litigation by non-practicing entities.

The engagement of the law firm of Davidoff, Hutcher, Citron, LLP,
brings a fresh perspective and background to apply toward the
future protection and licensing of the SiteFlash Patents and to
address developments in U.S. patent laws over the last few years.
The Company hopes to license the SiteFlash Patents to third parties
in order to maximize the value of this technology. The Company can
make no assurances that it will be able to license such technology
in the future.

                  Other Recent VCSY Patent Events

In addition to the upcoming issuance of the U.S. Patent No.
8,949,780, the Company shall acquire rights for U.S. Patent No.
8,903,371 (cellular telephone system and method), which was issued
on Dec. 2, 2014, under an assignment from Luiz Valdetaro, a
co-inventor who is also an employee and the Chief Technology
Officer of the Company.

The Company's executives are required to assign their rights in
inventions (and any associated patents) developed under their
employment agreements with the Company.  Consequently, Mr.
Valdetaro is obligated to assign all rights he has as a co-inventor
of this patent to VCSY, which include the right to use, license, or
enforce the patent.  Currently, there are no written agreements
between the co-inventors of this patent concerning any rights to
use, license or enforce this patent and the Company.

              Use of Mobile Patent-Pending Technology

The Company is currently developing and beta testing a mobile
platform and application on Android, which will be licensed for
certain uses to our subsidiary, Ploinks, Inc.  The Company has
filed several patent applications in connection with this
technology.

The Company is continually looking for ways to leverage its patents
and believes that some of the SiteFlash patents may be utilized in
VCSY's new mobile platform at some point in the future.  No
assurances can be made as to the viability of the Company's mobile
platform or any development thereof.

                       About Vertical Computer

Richardson, Tex.-based Vertical Computer Systems, Inc., is a
multinational provider of Internet core technologies, application
software, and software services through its distribution network
with operations or sales in the United States, Canada and Brazil.

Vertical Computer reported a net loss applicable to common
stockholders of $3.08 million in 2013 following a net loss
applicable to common stockholders of $2.07 million in 2012.

The Company's balance sheet at Sept. 30, 2014, showed $1.01
million in total assets, $17.5 million in total liabilities,
$9.90 million in convertible cumulative preferred stock, and a
$26.4 million total stockholders' deficit.

MaloneBailey, LLP, in Houston, Texas, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2013.  The independent auditors noted that the
Company suffered net losses and has a working capital deficiency,
which raises substantial doubt about its ability to continue as a
going concern.


VEYANCE TECHNOLOGIES: S&P Raises Corp. Credit Rating From 'B'
-------------------------------------------------------------
Standard & Poor's Ratings Services raised its corporate credit
rating on Fairlawn, Ohio-based rubber and plastics manufacturer
Veyance Technologies Inc. to 'BBB' from 'B'.  This action follows
the completion of Continental's acquisition of Veyance on Jan. 30,
2015, and aligns S&P's rating on Veyance with that of its parent,
Continental.  At the same time, S&P removed the corporate credit
rating on Veyance from CreditWatch, where S&P had placed it with
positive implications on Feb. 11, 2014.  The outlook is stable.

Subsequent to this action, S&P withdrew the corporate credit rating
as requested by the company.  S&P also withdrew all issue-level
ratings on the company's senior secured credit facilities following
the repayment of its rated debt in conjunction with the
acquisition.

"We raised the rating on Veyance and removed it from CreditWatch to
reflect our view that its credit quality is now aligned with that
of Continental AG, following the Jan. 30, 2015, close of the
acquisition by the automotive supplier and tire maker," said
Standard & Poor's credit analyst Svetlana Olsha.  Immediately
thereafter, S&P withdrew the corporate credit rating at the
company's request.  S&P also withdrew the issue-level ratings
because the company's debt has been repaid.



VIGGLE INC: Reports $22.2 Million Net Loss in Second Quarter
------------------------------------------------------------
Viggle Inc. filed with the U.S. Securities and Exchange Commission
its quarterly report on Form 10-Q disclosing a net loss of $22.2
million on $7.18 million of revenues for the three months ended
Dec. 31, 2014, compared to a net loss of $13.4 million on $5.03
million of revenues for the same period in 2013.

For the six months ended Dec. 31, 2014, the Company reported a net
loss of $39.8 million on $13.7 million of revenues compared to a
net loss of $37.7 million on $9.37 million of revenues for the same
period last year.

As of Dec. 31, 2014, the Company had $72.1 million in total assets,
$51.02 million in total liabilities, $3.75 million in series C
convertible redeemable preferred stock, and $17.4 million in total
stockholders' equity.

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

                        http://is.gd/7e6Mew

                           About Viggle

New York City-based Viggle Inc. is a loyalty marketing company.
The Company has developed a loyalty program for television that
gives people real rewards for checking into the television shows
they are watching on most mobile operating system.  Viggle users
can redeem their points in the app's rewards catalog for items
such as movie tickets, music, or gift cards.

Viggle reported a net loss of $68.4 million on $18 million of
revenues for the year ended June 30, 2014, compared with a net
loss of $91.4 million on $13.9 million of revenues for the year
ended June 30, 2013.

BDO USA, LLP, in New York, issued a "going concern" qualification
on the consolidated financial statements for the year ended
June 30, 2014.  The independent auditors noted that the Company
has suffered recurring losses from operations and at June 30,
2014, has a deficiency in working capital that raises substantial
doubt about its ability to continue as a going concern.


VIGGLE INC: Reports $22.23-Mil. Net Loss in Q4
----------------------------------------------
Viggle Inc. filed with the U.S. Securities and Exchange Commission
its quarterly report on Form 10-Q, disclosing a net loss of $22.2
million on $7.18 million of revenues for the three months ended
Dec. 31, 2014, compared with a net loss of $13.4 million on $5.03
million of revenues for the same period during the prior year.

The Company's balance sheet at Dec. 31, 2014, showed $72.1 million
in total assets, $51.02 million in total liabilities and
stockholders' equity of $17.4 million.

The report of the Company's independent registered public
accounting firm contained in its annual report on Form 10-K for the
fiscal year ended June 30, 2014 contained an explanatory paragraph
expressing substantial doubt about the Company's ability to remain
a going concern because the Company has suffered recurring losses
from operations and, at June 30, 2014, had deficiencies in working
capital.  The Company is unlikely to pay dividends or generate
significant earnings in the immediate or foreseeable future.  The
continuation of the Company as a going concern is dependent upon
the continued financial support from its largest stockholders and
its ability to obtain necessary equity and debt financing to
continue development of its business and to generate revenue.
Management intends to raise additional funds through equity and
debt offerings until sustainable revenues are developed.  No
assurance can be given that such equity and debt offerings will be
successful or that development of its business will continue
successfully.

A copy of the Form 10-Q is available at:
                              
                       http://is.gd/7e6Mew
                          
                           About Viggle

New York City-based Viggle Inc. is a loyalty marketing company.
The Company has developed a loyalty program for television that
gives people real rewards for checking into the television shows
they are watching on most mobile operating system.  Viggle users
can redeem their points in the app's rewards catalog for items
such as movie tickets, music, or gift cards.

Viggle reported a net loss of $68.4 million on $18 million of
revenues for the year ended June 30, 2014, compared with a net
loss of $91.4 million on $13.9 million of revenues for the year
ended June 30, 2013.

BDO USA, LLP, in New York, issued a "going concern" qualification
on the consolidated financial statements for the year ended
June 30, 2014.  The independent auditors noted that the Company
has suffered recurring losses from operations and at June 30,
2014, has a deficiency in working capital that raises substantial
doubt about its ability to continue as a going concern.


VISUALANT INC: AWM Investment Reports 9% Stake as of Dec. 31
------------------------------------------------------------
Austin W. Marxe, David M. Greenhouse and Adam C. Stettner disclosed
in an amended Schedule 13G filed with the U.S. Securities and
Exchange Commission that as of Dec. 31, 2014, they no longer owned
any shares of common stock of Visualant, Inc.
The reporting persons previously held beneficial ownership of
15,900,000 common shares as of Dec. 31, 2013, or 9.6 percent equity
stake.  A copy of the regulatory filing is available at:

                        http://is.gd/HIPLGG

In a separate regulatory filing with the SEC, AWM Investment
Company, Inc. disclosed that as of Dec. 31, 2014, it beneficially
owned 15,900,000 shares of common stock of Visualant representing
9.5 percent of the shares outstanding.  

AWM Investment is the investment adviser to Special Situations
Technology Fund, L.P., and Special Situations Technology Fund II.
As the investment adviser to the Funds, AWM holds sole voting and
investment power over 2,380,000 shares of Common Stock of the
Issuer and 4,760,000 Warrants to purchase Shares held by TECH
and 13,520,000 Shares and 27,040,000 Warrants to purchase Shares
held by TECH II.  

While the Shares held by each of the Funds were previously reported
by Marxe, Greenhouse and Stettner, owners of AWM, on
Schedule 13G, reference should be made to AWM for any
future filings with the SEC relating to the Shares held by each of
the Funds.  A copy of the regulatory filing is available for free
at http://is.gd/XSxyiR

                        About Visualant Inc.

Seattle, Wash.-based Visualant, Inc., was incorporated under the
laws of the State of Nevada on Oct. 8, 1998.  The Company
develops low-cost, high speed, light-based security and quality
control solutions for use in homeland security, anti-
counterfeiting, forgery/fraud prevention, brand protection and
process control applications.

Visualant reported a net loss of $1 million on $7.98 million of
revenue for the year ended Sept. 30, 2014, compared to a net loss
of $6.60 million on $8.57 million of revenue for the year ended
Sept. 30, 2013.  As of Sept. 30, 2014, Visualant had $3.22 million
in total assets, $6.62 million in total liabilities, all current,
and a $3.40 million total stockholders' deficit.

PMB Helin Donovan, LLP, in Seattle, Washington, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Sept. 30, 2014.  The independent auditors noted that
the Company has sustained a net loss from operations and has an
accumulated deficit since inception.  These factors, according to
the auditors, raise substantial doubt about the Company's ability
to continue as a going concern.


W.R. GRACE: To Separate Into Two Companies
------------------------------------------
W. R. Grace & Co. on Feb. 5 announced that its Board of Directors
has approved a plan to separate into two independent, publicly
traded companies. The two companies, to be named prior to closing,
will be "New Grace," comprised of Grace's Catalysts Technologies
and Materials Technologies business segments (excluding the Darex
packaging business), and "New GCP," comprised of Grace’s
Construction Products business segment and the Darex packaging
business. The separation transaction is intended to be a tax-free
spin-off to Grace shareholders for U.S. federal income tax
purposes, and is expected to be completed in approximately 12
months.

"Grace has created significant shareholder value by focusing on our
customers, driving innovation and growth, and executing a
disciplined capital allocation strategy," said Fred Festa, Grace
Chairman and Chief Executive Officer. "Our Board and management
team continuously evaluate strategic options to create value and,
after a comprehensive review, determined that this separation is in
the best interest of the Company and our shareholders. The time is
right to create two strong, independent companies that will benefit
from improved strategic focus, simplified operating structures, and
more efficient capital allocation."

"We have a world class team of talented people who have worked hard
to transform Grace into a high performing company. Those efforts
allow us to take this next important step in our evolution,"
continued Festa. "We're confident that both teams will maintain the
customer focus and commitment to growth and value creation that
have been keys to our success."

The Company believes that the planned separation will:

Enhance Strategic Focus: Two strong, focused operating companies
with industry-leading market and technology positions, strong free
cash flow and high returns on invested capital will be created
through this transaction. Each company will be positioned to
capture its distinct growth opportunities, focused on its unique
customers, with more efficient capital allocation and the scale and
cash flow needed for growth and value creation.

Simplify Operating Structures; Create Strong Financial Profiles:
Each company presents compelling growth and margin profiles.
Simplified operating structures will improve management focus and
allow improved cost productivity and optimized functional support.
Optimized capital structures will provide financial flexibility to
pursue organic growth and M&A opportunities.

Create Distinct Investment Identities: New Grace and New GCP will
provide unique and compelling investment opportunities with
different growth drivers and simpler investor theses. Investors
will have the opportunity to evaluate and invest in each business
based on its respective financial profile, performance and
prospects.

Two Focused Businesses

New Grace

After the separation, New Grace will consist of the Company's
existing Catalysts Technologies business and its Materials
Technologies business (excluding the Darex packaging business). The
Company expects New Grace to continue to be a global leader in
process catalysts and specialty silicas. New Grace will be a high
margin, technologically advanced business focused on growth, margin
expansion and strong cash flow. With its materials science
expertise and complex manufacturing capabilities, New Grace will
continue to deliver high-value, differentiated technologies to
maintain its global leadership positions and drive additional
growth and margin expansion. The business will remain
differentiated by best in class manufacturing, technical sales and
service and R&D.

Post separation, the Company expects New Grace to have sales of
approximately $1.8 billion (approximately $2.2 billion including
sales from our unconsolidated ART JV)(1). The Company believes that
New Grace will seek to make strategic bolt-on acquisitions in its
core segments as well as acquisitions to expand its high margin,
high-performance specialty chemicals and performance materials
portfolio. The Company expects New Grace's net leverage at the time
of the spin-off to be between 2.0x and 2.5x Adjusted EBITDA.

New GCP

The Company expects New GCP to continue to be a leader in cement
and concrete chemicals, specialty building materials and can
sealants and coatings with strong brands and positions. New GCP
will aim to leverage its independent company platform and strong
free cash flow to accelerate growth in its global construction
products segments and to maintain its segment leadership positions
in can sealants and coatings. New GCP will have the financial
flexibility to grow both organically and through acquisitions in
its construction products business.

Including Darex in the new company provides significant value to
New GCP, including higher and more stable cash flows and margins.
The businesses also share many integrated manufacturing sites
around the world, providing strong operating leverage. With Darex,
New GCP can support higher financial leverage, giving it additional
resources to pursue its growth objectives.

Post separation, the Company expects New GCP to have sales of
approximately $1.5 billion(1). The Company expects New GCP’s net
leverage at the time of the spin-off to be between 3.0x and 3.5x
Adjusted EBITDA.

Experienced and Proven Leadership

Upon completion of the transaction, New Grace will continue to be
led by Fred Festa, Chairman and Chief Executive Officer, and Hudson
La Force, Senior Vice President and Chief Financial Officer.

Greg Poling, currently President and Chief Operating Officer of
Grace, will lead New GCP as President and Chief Executive Officer.

Additional Information

The separation transaction is intended to be a tax-free spin-off to
Grace shareholders for U.S. federal income tax purposes. The
separation is subject to customary closing conditions, including
final approval by Grace's Board of Directors.

Advisors

Goldman, Sachs & Co. is serving as financial advisor to Grace, and
Wachtell, Lipton, Rosen & Katz is serving as legal counsel.

                        About W.R. Grace

Headquartered in Columbia, Maryland, W.R. Grace & Co. (NYSE:GRA)
-- http://www.grace.com/-- supplies catalysts and silica  
products, especially construction chemicals and building
materials, and container products globally.  Grace employs
approximately 6,500 people in over 40 countries and had 2012 net
sales of $3.2 billion.

The company and its debtor-affiliates filed for chapter 11
protection on April 2, 2001 (Bankr. D. Del. Case No. 01-01139).

The Debtors are represented by Adam Paul, Esq., and John Donley,
P.C., Esq., at Kirkland & Ellis LLP, in Chicago, Illinois; Roger
Higgins, Esq., at The Law Offices of Roger Higgins, in Chicago,
Illinois; and Laura Davis Jones, Esq., James E. O'Neill, Esq.,
and Timothy P. Cairns, Esq., at Pachulski Stang Ziehl & Jones,
LLP, in Wilmington, Delaware.

The Debtors hired Blackstone Group, L.P., for financial advice.
PricewaterhouseCoopers LLP is the Debtors' accountant.

Stroock & Stroock & Lavan, LLP, and Duane Morris, LLP, represent
the Official Committee of Unsecured Creditors.  The Creditors
Committee tapped Capstone Corporate Recovery LLC for financial
advice.

Roger Frankel serves as legal representative for victims of
asbestos exposure who may file claims against W.R. Grace.  Mr.
Frankel, a partner at Orrick Herrington & Sutcliffe LLP, replaces
David Austern, who was appointed to that role in 2004.
Mr. Frankel has served as legal counsel for Mr. Austern who passed
away in May 2013.  The FCR is represented by Orrick Herrington &
Sutcliffe LLP as counsel; Phillips Goldman & Spence, P.A., as
Delaware co-counsel; and Lincoln Partners Advisors LLC as
financial adviser.

Herrington & Sutcliffe LLP and Phillips Goldman & Spence, PA.
Elihu Inselbuch, Esq., at Caplin & Drysdale, Chartered, and Marla
R. Eskin, Esq., at Campbell & Levine, LLC, represent the Official
Committee of Asbestos Personal Injury Claimants.  The Asbestos
Committee of Property Damage Claimants tapped Scott Baena, Esq.,
and Jay M. Sakalo, Esq., at Bilzin Sumberg Baena Price & Axelrod,
LLP, to represent it.  Thomas Moers Mayer, Esq., at Kramer Levin
Naftalis & Frankel, LLP, represents the Official Committee of
Equity Security Holders.

W.R. Grace obtained confirmation of a plan co-proposed with the
Official Committee of Asbestos Personal Injury Claimants, the
Official Committee of Equity Security Holders, and the Asbestos
Future Claimants Representative.   The Chapter 11 plan is built
around an April 2008 settlement for all present and future
asbestos personal injury claims, and a subsequent settlement for
asbestos property damage claims.

District Judge Ronald Buckwalter on Jan. 31, 2012, entered an
order affirming the bankruptcy court's confirmation of the Plan.
Bankruptcy Judge Judith Fitzgerald had approved the Plan on
Jan. 31, 2011.

W.R. Grace defeated four appeals from approval of the Plan.  A
fifth appeal was by secured bank lenders claiming the right to
$185 million of interest at the contractual default rate.
Pursuant to a settlement announced in December 2013, lenders are
to receive $129 million in settlement of the claim for additional
interest.

W.R. Grace & Co. and its debtor affiliates notified the U.S.
Bankruptcy Court for the District of Delaware that they have
satisfied or waived conditions to the occurrence of the effective
date of the First Amended Joint Plan of Reorganization
co-proposed by the Official Committee of Asbestos Personal Injury
Claimants, the Asbestos PI Future Claimants' Representative, and
the Official Committee of Equity Security Holders.  The effective
date of the Plan occurred on Feb. 3, 2014.


WALL STREET REAL ESTATE: Case Summary & Largest Unsec. Creditors
----------------------------------------------------------------
Debtor: Wall Street Real Estate Services, LLC
           aka Lease Finders LLC
           aka Crowne Properties
           aka Wall Street Properties
        4504 Allen Hollow Place
        Suwanee, GA 30024

Case No.: 15-52098

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: February 2, 2015

Court: United States Bankruptcy Court
       Northern District of Georgia (Atlanta)

Debtor's Counsel: David S. Perrie, Esq.
                  PERRIE & ASSOCIATES, LLC
                  Suite 1170, 100 Galleria Parkway
                  Atlanta, GA 30339
                  Tel: 770-579-2700
                  Fax: 404-214-6686
                  Email: davidperrie@perrielaw.com

Total Assets: $1.9 million

Total Liabilities: $798,790

The petition was signed by George Warren, CEO.

A list of the Debtor's largest unsecured creditors is available for
free at http://bankrupt.com/misc/ganb15-52098.pdf


WASTE INDUSTRIES: S&P Raises CCR to 'BB-'; Outlook Stable
---------------------------------------------------------
Standard & Poor's Ratings Services raised its corporate credit
rating on Raleigh, N. C.-based Waste Industries U.S.A. Inc. by one
notch to 'BB-'.  In addition, S&P assigned its 'BB-' issue rating
and '3' recovery rating to the proposed $950 million in credit
facilities.  The '3' recovery rating indicates S&P's expectation of
meaningful (50% to 70%) recovery in the event of a payment default.
S&P also assigned a stable outlook.

Waste Industries is proposing to refinance its existing credit
facilities into a new $250 million revolving credit facility and a
$700 million term loan B, both due 2020, with the stipulation that
the revolver does not mature later than 90 days prior to the term
loan.  S&P expects the revolving facility to be unfunded at closing
and that the company will use term loan proceeds for the following
purposes: to repay $642 million of existing indebtedness, redeem
approximately $17 million worth of class A equity units, fund a $10
million distribution to class B shareholders, add roughly $10
million of cash to the balance sheet, and pay for transactions
costs.  S&P anticipates the company's liquidity strengthening
following the refinancing transaction because S&P believes that the
headroom under financial covenants will increase, allowing for
additional borrowing capacity.  Consequently, S&P is revising its
liquidity score to "adequate" from "less than adequate," resulting
in a one-notch improvement to the corporate credit rating.

The ratings on Waste Industries USA Inc. reflect S&P's
"satisfactory" business risk profile assessment, highlighted by the
company's participation in a recession-resistant industry, its fair
degree of vertical integration, and good profitability.  These
strengths are partially offset by the company's modest scale of
operations and its geographic concentration in the Southeast U.S.
The ratings also reflect S&P's "aggressive" financial risk profile
assessment, as the company's pro forma adjusted debt to EBITDA
ratio at Dec. 31, 2014 was almost 4.8x.  S&P characterizes Waste
Industries' liquidity as "adequate" as defined in S&P's criteria.

The outlook on Waste Industries U.S.A. Inc. is stable.  S&P's base
case scenario envisions Waste Industries strengthening its pricing
and continuing to generate solid profitability.  S&P expects Waste
Industries to maintain an FFO to debt ratio of roughly 15% and to
maintain a level of headroom under its financial covenants such
that it would require a greater than 15% drop in trailing twelve
month EBITDA before a breach occurs.

S&P could raise the rating if the company's FFO to debt ratio
becomes more solidly entrenched within the "aggressive" financial
risk profile designation, i.e. rising to near 20% and remaining
there for a sustained period of time.  In that case, S&P believes
that use of the negative comparable rating analysis modifier may no
longer be warranted.

Although unlikely given stable industry dynamics and Waste
Industries' satisfactory competitive position, S&P could lower the
rating if the economy weakens and competitive dynamics materially
deteriorate, resulting in significantly lower prices and volumes.
S&P could also lower the rating if liquidity were to weaken
significantly as a result of limited covenant headroom, and the
company failed to take timely steps to improve its liquidity.  A
downgrade would also result if the company undertakes
larger-than-anticipated acquisitions or shareholder rewards that
result in FFO to total debt dropping to and remaining below 12%.
S&P do not expect this ratio to reach this level unless
acquisitions or shareholder rewards are larger than anticipated.



WAYNE COUNTY, MI: Puts 'BB-' LTGO Ratings on Watch Negative
-----------------------------------------------------------
Fitch Ratings has placed the following Wayne County, Michigan (the
county) ratings on Rating Watch Negative:

  -- $190.9 million limited tax general obligation (LTGO) bonds
     issued by Wayne County 'BB-';

  -- $54.9 million building authority (stadium) refunding bonds,
     series 2012 (Wayne County LTGO) issued by Detroit/Wayne
County
     Stadium Authority 'BB-';

  -- $207.2 million building authority bonds issued by Wayne
County
     Building Authority 'BB-';

  -- Wayne County unlimited tax general obligation (ULTGO)
(implied)
     'BB'.

Previously, the Rating Outlook was Negative.

SECURITY

LTGO bonds issued by the county carry the county's general
obligation ad valorem tax pledge, subject to applicable charter,
statutory and constitutional limitations.

Stadium authority and building authority bonds are secured by lease
payments from the county to the respective authority. The
obligation to make the rental payments is not subject to
appropriation, setoff or abatement for any cause, and carries the
county's LTGO pledge.

KEY RATING DRIVERS

The Negative Watch stems from recent public statements by the
county executive that the projected fiscal 2015 operating deficit
is larger than previously reported and that cash will be depleted
by August 2016. The revised forecast is based upon a new analysis
by Ernst & Young, which Fitch has not yet reviewed. Additionally,
the county has retained a 'Chief Restructuring Officer' which
raises concerns about the county's commitment to full and timely
debt repayment. The county executive has been quoted in media
reports as saying that bankruptcy is a possibility, albeit not a
likely one at this point. Fitch plans to review the Ernst & Young
report and discuss these concerns with the county in the near term
at which time the Rating Watch will be resolved.



WORLD SURVEILLANCE: Gen. Wayne Jackson Quits From Board
-------------------------------------------------------
General Wayne P. Jackson resigned as a member of World Surveillance
Group Inc.'s Board of Directors, as the Chairman of the Company's
Compensation Committee and as a member of its Audit Committee on
Feb. 6, 2015, for personal reasons, according to a Form 8-K filed
with the U.S. Securities and Exchange Commission.

                      About World Surveillance

World Surveillance Group Inc. designs, develops, markets and sells
autonomous lighter-than-air (LTA) unmanned aerial vehicles (UAVs)
capable of carrying payloads that provide persistent security
and/or wireless communication from air to ground solutions at low,
mid and high altitudes.  The Company's airships, when integrated
with electronics systems and other high technology payloads, are
designed for use by government-related and commercial entities
that require real-time intelligence, surveillance and
reconnaissance or communications support for military, homeland
defense, border control, drug interdiction, natural disaster
relief and maritime missions.  The Company is headquartered at the
Kennedy Space Center, in Florida.

World Surveillance reported a net loss of $3.41 million on
$559,000 of net revenues for the year ended Dec. 31, 2013, as
compared with a net loss of $3.36 million on $272,000 of net
revenues for the year ended Dec. 31, 2012.

Rosen Seymour Shapss Martin & Company LLP, in New York, issued a
"going concern" qualification on the consolidated financial
statements for the year ended Dec. 31, 2013.  The independent
auditors noted that the Company has experienced significant losses
and negative cash flows, resulting in decreased capital and
increased accumulated deficits.  These conditions raise
substantial doubt about its ability to continue as a going
concern.

As of Sept. 30, 2014, the Company had $6.14 million in total
assets, $17.3 million in total liabilities, all current, and a
$11.1 million total stockholders' deficit.

                         Bankruptcy Warning

"We have incurred substantial indebtedness and may be unable to
service our debt.

"Our total indebtedness at September 30, 2014 was $17,292,275.  A
portion of such indebtedness reflects judicial judgments against
us that could result in liens being placed on our bank accounts or
assets.  We are continuing to review our ability to reduce this
debt level due to the age and/or settlement of certain payables
but we may not be able to do so.  This level of indebtedness
could, among other things:

   * make it difficult for us to make payments on this debt and
     other obligations;

   * make it difficult for us to obtain future financing;

   * require us to redirect significant amounts of cash from
     operations to servicing the debt;

   * require us to take measures such as the reduction in scale of
     our operations that might hurt our future performance in
     order to satisfy our debt obligations; and

   * make us more vulnerable to bankruptcy or an unwanted
     acquisition on terms unsatisfactory to us," the Company
     stated in its quarterly report for the period ended Sept. 30,
     2014.


WPCS INTERNATIONAL: Interim CEO to Get $180,000 Base Salary
-----------------------------------------------------------
WPCS International Incorporated and Sebastian Giordano, the
Company's interim chief executive officer, entered into an amended
letter agreement effective setting forth the terms of Mr.
Giordano's employment by the Company.  Under the terms of the
Amendment, Mr. Giordano will receive a base salary of $180,000,
effective as of Jan. 1, 2015, and options to purchase 300,000
shares of the Company's common stock, subject to performance-based
vesting.

               About WPCS International Incorporated

WPCS -- http://www.wpcs.com/-- operates in two business segments
including: (1) providing communications infrastructure contracting
services to the public services, healthcare, energy and corporate
enterprise markets worldwide; and (2) developing a Bitcoin trading
platform.

As reported by the TCR on Feb. 7, 2014, WPCS appointed Marcum LLP
as its new independent registered public accounting firm.
CohnReznick LLP resigned on Dec. 20, 2013.

WPCS International incurred a net loss attributable to common
shareholders of $11.2 million for the year ended April 30, 2014,
as compared with a net loss attributable to common shareholders of
$6.91 million for the year ended April 30, 2013.  As of Oct. 31,
2014, the Company had $17.7 million in total assets, $17.3
million in total liabilities and $397,000 in total equity.

Marcum LLP, in New York, NY, issued a "going concern"
qualification on the consolidated financial statements for the
year ended April 30, 2014.  The independent auditing firm
noted that the Company has incurred significant losses and needs
to raise additional funds to meet its obligations and sustain its
operations.  These conditions raise substantial doubt about the
Company's ability to continue as a going concern.


YPSILANTI SCHOOL: Moody's Affirms Ba3 General Obligation Rating
---------------------------------------------------------------
Moody's Investors Services has affirmed the Ba3 underlying general
obligation rating of the Ypsilanti School District, MI.

Summary Rating Rationale

The Ba3 underlying rating reflects an improved financial position
following the 2013 issuance of operating deficit bonds offset by
the likely continuance of operating stress given falling enrollment
and limited flexibility to curb revenue loss. The rating also
incorporates the district's moderately-sized full valuation located
within the Ann Arbor (Aa1) metropolitan area, an elevated debt
burden, and exposure to an underfunded cost-sharing retirement
system.

Outlook

Outlooks are usually not assigned to local government credits with
this amount of debt outstanding.

What Could Make The Rating Go Up

-- Sustained operational balance despite high fixed costs and
    declining enrollment

-- Stabilization of the district's negative enrollment and
    revenue trends

What Could Make The Rating Go Down

-- Operational stress that drives a narrowing of financial
    reserves

-- Weakening of the district's economic profile

-- Growth in the district's debt burden and/or adjusted net
    pension liability

Obligor Profile

The Ypsilanti School District serves nearly 4,200 students within
an area populated by 57,000 residents located approximately 30
miles west of the City of Detroit (B3 stable) and neighboring the
City of Ann Arbor.

Legal Security

The district's general obligation bonds are secured by the
authorization and pledge to levy a tax unlimited as to rate and
amount to pay debt service. The district's state aid revenue bonds
are secured by a pledge of state aid paid directly by the state
treasurer to the trustee. The state aid revenue bonds are also a
general obligation of the district, but repayment does not benefit
from a dedicated property tax levy.

Use Of Proceeds

Not applicable.

Principal Methodology

The principal methodology used in this rating was US Local
Government General Obligation Debt published in January 2014.



YRC WORLDWIDE: Posts $6.2 Million Net Income in Fourth Quarter
--------------------------------------------------------------
YRC Worldwide Inc. reported net income of $6.2 million on $1.21
billion of operating revenue for the three months ended Dec. 31,
2014, compared to net income of $400,000 on $1.20 billion of
operating revenue during the prior year.

For the 12 months ended Dec. 31, 2014, the Company reported a net
loss of $67.7 million on $5.06 billion of operating revenue
compared to a net loss of $83.6 million on $4.86 billion of
operating revenue last year.

As of Dec. 31, 2014, the Company had $1.98 billion in total assets,
$2.45 billion in total liabilities and a $474 million total
stockholders' deficit.

"During the fourth quarter of 2014, YRC Freight experienced yield
growth compared to the prior year of 5.7% including fuel surcharge
and 7.3% excluding fuel surcharge," said James Welch, chief
executive officer of YRC Worldwide.  "On a year-over-year basis
during the quarter, YRC Freight achieved total revenue per
hundredweight (including fuel surcharge) increases of 4.8% in
October, 6.9% in November and 5.7% in December.  The year-over-year
increase in yield continued the trend that began in the third
quarter and continued to pick up momentum, especially when compared
to the results excluding fuel surcharge and is a testament of
improving base rates and fundamental pricing. Additionally, on a
year-over-year basis, YRC Freight reported tonnage per day
decreases of 1.6% in October, 3.2% in November and 3.2% in
December.  The decreases in tonnage were a result of prioritizing
yield improvement and profitability over volume.

"YRC Freight continues to improve profitability by executing on its
operational initiatives and significantly increasing technology
investments," continued Welch.  "In 2015, the lower price of diesel
and the resulting lower fuel surcharge revenue will be a headwind
for the entire LTL industry.  Going forward, we will continue
growing base rates and getting paid for the service we provide
while continuing to realize the benefits of investments already
made in technology, safety, driver recruitment and employee
engagement," stated Welch.

As of Dec. 31, 2014, the company had cash and cash equivalents
and amounts able to be drawn under its ABL facility totaling $198.2
million.

A full-text copy of the press release is available for free at:

                       http://is.gd/6FSR3M

                       About YRC Worldwide

Headquartered in Overland Park, Kan., YRC Worldwide Inc. (NASDAQ:
YRCW) -- http://www.yrcw.com/-- is a holding company that offers
its customers a wide range of transportation services.  These
services include global, national and regional transportation as
well as logistics.

                            *    *    *

As reported by the TCR on Feb. 18, 2014, Moody's Investors Service
had upgraded the Corporate Family Rating for YRC Worldwide Inc.
("YRCW") from Caa3 to B3, following the successful closing of its
refinancing transactions.

In the Jan. 31, 2014, edition of the TCR, Standard & Poor's
Ratings Services said that it raised its ratings on Overland Park,
Kansas-based less-than-truckload (LTL) trucker YRC Worldwide Inc.
(YRCW), including the corporate credit rating to 'CCC+' from
'CCC', and removed them from CreditWatch negative, where they were
placed on Jan. 10, 2014.  "The upgrades reflect YRCW's improved
liquidity position and minimal debt maturities as a result of its
proposed refinancing," said Standard & Poor's credit analyst Anita
Ogbara.


ZALE CORP: Dimensional No Longer a Shareholder as of Dec. 31
------------------------------------------------------------
Dimensional Fund Advisors LP disclosed in a regulatory filing with
the U.S. Securities and Exchange Commission that it no longer
beneficially owned any shares of common stock of Zale Corp as of
Dec. 31, 2014.  The reporting person previously held 2,783,150
shares or 8.47 percent equity stake at Dec. 31, 2013.  A copy of
the Schedule 13G/A is available at http://is.gd/jzrsqp

                       About Zale Corporation

Based in Dallas, Texas, Zale Corporation (NYSE: ZLC) --
http://www.zalecorp.com/-- is a specialty retailer of diamonds
and other jewelry products in North America, operating
approximately 1,695 retail locations throughout the United States,
Canada and Puerto Rico, as well as online.  Zale Corporation's
brands include Zales Jewelers, Zales Outlet, Gordon's Jewelers,
Peoples Jewellers, Mappins Jewellers and Piercing Pagoda.  Zale
also operates online at http://www.zales.com/,
http://www.zalesoutlet.com/,
http://www.gordonsjewelers.com/and http://www.pagoda.com/

Zale Corp disclosed net earnings of $10.01 million for the year
ended July 31, 2013, a net loss of $27.3 million for the year
ended July 31, 2012, a net loss of $112 million for the year
ended July 31, 2011, and a net loss of $93.7 million for the year
ended July 31, 2010.

As of April 30, 2014, Zale Corp had $1.26 billion in total assets,
$1.05 billion in total liabilities and $205.7 million in total
stockholders' investment.


[*] Bankruptcy Filings Drop 10% in January 2015
-----------------------------------------------
The Blade reports that bankruptcy filings in Toledo, Ohio, dropped
10% to 230 filings in January 2015 from 257 in January 2014.
According to the report, 199 of the filings in January 2015 were
Chapter 7, 29 were Chapter 13 repayment plan filings, and two were
Chapter 11 reorganization.


[*] Chapter 11 Filings Drop 14% in January 2015, Epiq Systems Says
------------------------------------------------------------------
Monitor Daily reports that data provided by Epiq Systems show that
total U.S. bankruptcy filings dropped 14% to 59,037 in January 2015
from 68,271 in the same period last year.

Monitor Daily relates that commercial Chapter 11 bankruptcy filings
increased 33% to 518 in January 2015, from 391 filings in January
2014, while consumer bankruptcy filings decreased 13% to 56,588 in
January 2015 from 65,347 in January 2014.

According to Monitor Daily, total bankruptcy filings for January
2015 dropped 7% from the 63,169 total filings registered in
December 2014.  The report says that total noncommercial filings
for January 2015 decreased 7% to 56,588 from 63,618 in December
2014, while the January 2015 commercial filings total of 2,449 was
1% lower compared with the 2,483 commercial filings in December
2014.  

Monitor Daily quoted ABI Executive Director Samuel J. Gerdano as
saying, "High costs to file and sustained low interests rates
continue to reduce the number of consumers and businesses seeking
the fresh financial start of bankruptcy.  The year-over-year filing
totals have now declined for 50 consecutive months."


[*] Judge Strikes Down Puerto Rico's Debt Restructuring Law
-----------------------------------------------------------
Michael Corkery, writing for The New York Times' DealBook, reported
that investors in billions of dollars of Puerto Rico bonds have
secured a major legal victory, after a federal judge ruled that the
commonwealth's recently enacted debt restructuring law was
unconstitutional.

According to the report, in a decision on Feb. 6, Judge Francisco
A. Besosa of the United States District Court in Puerto Rico said
the Puerto Rico Public Corporation Debt Enforcement and Recovery
Act was void and enjoined commonwealth officials from enforcing the
law.  The DealBook added that Judge Besosa also denied the
commonwealth's motion to dismiss an investors' lawsuit, saying that
the recovery act was pre-empted by federal bankruptcy law.


[*] Orr, Judge Rhodes Named Crain's 2014 Newsmakers of the Year
---------------------------------------------------------------
Join Crain's to hear its Newsmakers of the Year for 2014, U.S.
Bankruptcy Judge Steven Rhodes and former Detroit emergency manager
Kevyn Orr, address the southeast Michigan business community.
Special guest U.S. District Judge Gerald Rosen, the mediator of the
Grand Bargain, will be the Newsmaker moderator.

At the beginning of each year, Crain's Detroit Business identifies
the top newsmakers from the previous year.  Other Crain's
Newsmakers for 2014 were Mary Barra, CEO, General Motors Co; David
Brandon, former athletic director, University of Michigan; Matt
Cullen, CEO, M-1 Rail; Chris Ilitch, CEO, Ilitch Holdings Inc.;
Gene Michalski, CEO, Beaumont Health; Bob Paul, CEO, Compuware
Corp.; Mina Sooch, CEO, Gemphire Therapeutics Inc.; Darren Walker,
CEO, Ford Foundation and M. Roy Wilson, President, Wayne State
University.

All of Metro Detroit took notice of Detroit's 16-month bankruptcy
trial.  The task included making a city whole again despite being
$18 billion in debt and a negative cash flow of more than $260
million projected for 2015.  The filing was the country's largest
and most complex municipal bankruptcy.  Along with U.S. District
Court Judge Gerald Rosen, Orr and Rhodes were able to quickly
settle with creditors to help move Detroit forward.  Because of
their dedicated effort, Mr. Orr and Judge Rhodes were selected as
Crain's Newsmakers of the Year for 2014.

Mr. Orr, Judge Rhodes and Judge Rosen will speak at Crain's
Newsmakers of the Year event Wednesday, Feb, 25, 2015 at MotorCity
Casino Hotel in Detroit.  They will be joined by Keith Crain,
Editor-in-Chief and Mary Kramer, publisher of Crain's Detroit
Business.  In addition, this luncheon will honor Crain's 2014
Best-Managed Nonprofit winner, Common Ground, and announce the
Newsmaker Student Scholarship awardee.

The event will open with registration and networking at 11:30 a.m.
The program will begin at noon with a seated lunch and conclude at
1:30 p.m.

The event is open to the public.  The cost to attend is $70 for an
individual ticket and $60 for students.  Reserved seating is
available by purchasing a table of 10 for $750.  Pre-registration
ends Feb. 20 at close of business.  Walk-in registration will be
$90 per person if the event has not sold out.

MotorCity Casino Hotel is located at 2901 Grand River Ave. in
Detroit.

Supporters of this event include Title Sponsor Miller Canfield and
Co-Title Sponsor First Merit Bank.

For more information, visit www.crainsdetroit.com/events or contact
cdbevents@crain.com or 313-446-0300.

                About Crain's Detroit Business

For 30 years, Crain's Detroit Business --
http://www.crainsdetroit.com-- has served southeast Michigan's
business influencers and decision makers with must-have news and
information that can't be found anywhere else.  Industry coverage
includes health care, banking/finance, sports, manufacturing,
government/public policy, technology, education, real estate, law,
entrepreneurship, advertising/marketing, defense, services, retail,
food, hospitality/tourism, life sciences, energy and
transportation.  Crain's Detroit Business enjoys a 100 percent paid
subscriber base of 25,700.  In addition to a weekly edition, paid
subscribers receive daily email alerts and the annual Book of
Lists.  The crainsdetroit.com website earns an average of 950,000
page views a month with users spending nearly six minutes per
visit.  Registered users have access to industry specific
e-newsletters and the latest news posted daily.

Crain's Detroit Business is owned by Crain Communications Inc.,
publisher of leading industry trade publications Advertising Age
and Automotive News, among others and is based in Detroit,
Michigan.


[*] Six Bankruptcy Filings in W.D. Wash. in December
----------------------------------------------------
The Herald Business Journal reports that there were five Chapter 7
filings and one Chapter 11 filing by Snohomish County businesses or
individuals with the U.S. Bankruptcy Court for Western District of
Washington between Dec. 1 and Dec. 31, 2014.

According to The Herald, the Chapter 7 filings are:

      a. Carlos R. Veliz (Bankr. W.D. Wash. Case No. 14-18784),
         filed on Dec. 5, 2014.  Lawrence M. Blue, Esq., serves as

         his bankruptcy counsel, while his attorney for special
         request is Douglas R. Cameron, Esq.;  

      b. Gail A. Fagerlie (Bankr. W.D. Wash. Case No. 14-19091)
         filed on Dec. 19, 2014, and hired Nicholas D. Fisher,
         Esq., as bankruptcy counsel.  Her attorney for special
         request is Lisa M. McMahon-Myhran, Esq.;  

      c. John C. Sisley and Andrea K. Sisley (Bankr. W.D. Wash.
         Case No. 14-19142) filed on Dec. 23, 2014, hiring Larry
         B. Feinstein, Esq., as their bankruptcy counsel;

      d. Bradley R. Sonne and Molly E. Sonne (Bankr. W.D. Wash.
         Case No. 14-19178) filed on Dec. 24, 2014, hiring Patrick

         L. Hinton, Esq., as bankruptcy counsel.  They also hired
         Christopher R. Graving, Esq., Lance E. Olsen, Esq., and
         Jeffrey L. Smoot, Esq., as attorney for special request;
         and

      e. Tower Construction Inc. (Bankr. W.D. Wash. Case No. 14-
         19271) filed on Dec. 31, 2014, hiring Darrel B. Carter,
         Esq., as bankruptcy counsel.

Maddy Claire filed for Chapter 11 bankruptcy protection (Bankr.
W.D. Wash. Case No. 14-19196) on Dec. 29, 2014, hiring Jesse
Valdez, Esq., as bankruptcy counsel, and Arnold M. Willig Dore,
Esq., as attorney for special request.


[*] Swaps Make Restructuring Advisors' Lives Trickier
-----------------------------------------------------
Matt Jarzemsky, writing for The Wall Street Journal, reported that
credit-default swaps are shaking up the distressed-debt investing
world, and they’re making the job of restructuring advisers more
difficult as the combination of swaps bets and distressed-debt
investing "creates thorny and difficult issues in getting
consensual [restructuring] deals done," Marc Puntus, a partner in
the restructuring and debt-advisory group at investment bank
Centerview Partners, told attendees at the iGlobal Forum Global
Distressed Investing Summit in New York.

The Journal noted that swaps have played a role in the
restructurings of Caesars Entertainment Corp.'s largest unit and
electronics retailer RadioShack Corp., among others.  Hedge funds
with exposure to the swaps–derivative contracts that pay out if a
borrower defaults before the swap expires–have been trying to
actively influence whether and when the default occurs, the report
said.


[^] BOND PRICING: For the Week From Feb. 2 to 6, 2015
-----------------------------------------------------
  Company              Ticker   Coupon  Bid Price Maturity Date
  -------              ------   ------  --------- -------------
Allen Systems
  Group Inc            ALLSYS     10.5        34     11/15/2016
Allen Systems
  Group Inc            ALLSYS     10.5        34     11/15/2016
Alpha Natural
  Resources Inc        ANR        9.75        38      4/15/2018
Alpha Natural
  Resources Inc        ANR           6      26.7       6/1/2019
Alpha Natural
  Resources Inc        ANR        3.75     35.75     12/15/2017
Altegrity Inc          USINV        14        38       7/1/2020
Altegrity Inc          USINV        13    37.625       7/1/2020
Altegrity Inc          USINV        14    37.625       7/1/2020
American Eagle
  Energy Corp          AMZG         11      40.5       9/1/2019
American Eagle
  Energy Corp          AMZG         11        39       9/1/2019
American Tower Corp    AMT       4.625   100.414       4/1/2015
Annaly Capital
  Management Inc       NLY           4       100      2/15/2015
Arch Coal Inc          ACI           7     26.73      6/15/2019
Arch Coal Inc          ACI        7.25    27.125      6/15/2021
Arch Coal Inc          ACI       9.875     31.25      6/15/2019
Arch Coal Inc          ACI        7.25        29      10/1/2020
BPZ Resources Inc      BPZ         8.5        23      10/1/2017
Black Elk Energy
  Offshore
  Operations LLC /
  Black Elk
  Finance Corp         BLELK     13.75    80.927      12/1/2015
Caesars Entertainment
  Operating Co Inc     CZR          10    18.938     12/15/2018
Caesars Entertainment
  Operating Co Inc     CZR       10.75      21.4       2/1/2016
Caesars Entertainment
  Operating Co Inc     CZR       12.75      19.5      4/15/2018
Caesars Entertainment
  Operating Co Inc     CZR         6.5    23.375       6/1/2016
Caesars Entertainment
  Operating Co Inc     CZR        5.75     24.87      10/1/2017
Caesars Entertainment
  Operating Co Inc     CZR          10      19.1     12/15/2018
Caesars Entertainment
  Operating Co Inc     CZR        5.75    24.375      10/1/2017
Caesars Entertainment
  Operating Co Inc     CZR       10.75      8.75       2/1/2016
Caesars Entertainment
  Operating Co Inc     CZR          10    18.875     12/15/2018
Caesars Entertainment
  Operating Co Inc     CZR          10    18.875     12/15/2018
Caesars Entertainment
  Operating Co Inc     CZR       10.75    23.125       2/1/2016
Caesars Entertainment
  Operating Co Inc     CZR          10      18.5     12/15/2018
Cal Dive
  International Inc    CDVI          5        10      7/15/2017
Champion
  Enterprises Inc      CHB        2.75      0.25      11/1/2037
Chassix Holdings Inc   CHASSX       10     11.75     12/15/2018
Colt Defense LLC /
  Colt Finance Corp    CLTDEF     8.75     43.25     11/15/2017
Colt Defense LLC /
  Colt Finance Corp    CLTDEF     8.75    42.625     11/15/2017
Colt Defense LLC /
  Colt Finance Corp    CLTDEF     8.75    42.625     11/15/2017
Endeavour
  International Corp   END          12        36       3/1/2018
Endeavour
  International Corp   END          12      3.25       6/1/2018
Endeavour
  International Corp   END         5.5      3.75      7/15/2016
Endeavour
  International Corp   END          12    24.875       3/1/2018
Endeavour
  International Corp   END          12    24.875       3/1/2018
Energy Conversion
  Devices Inc          ENER          3     7.875      6/15/2013
Energy Future
  Intermediate
  Holding Co LLC /
  EFIH Finance Inc     TXU          10      9.75      12/1/2020
Energy Future
  Intermediate
  Holding Co LLC /
  EFIH Finance Inc     TXU          10      9.75      12/1/2020
Energy Future
  Intermediate
  Holding Co LLC /
  EFIH Finance Inc     TXU       6.875     3.947      8/15/2017
Exide Technologies     XIDE      8.625         5       2/1/2018
Exide Technologies     XIDE      8.625     6.375       2/1/2018
Exide Technologies     XIDE      8.625     6.375       2/1/2018
Express Scripts
  Holding Co           ESRX        2.1   100.003      2/12/2015
FBOP Corp              FBOPCP       10     1.843      1/15/2009
FairPoint
  Communications
  Inc/Old              FRP      13.125     1.879       4/2/2018
Fleetwood
  Enterprises Inc      FLTW         14     3.557     12/15/2011
GT Advanced
  Technologies Inc     GTAT          3      37.5      10/1/2017
Goodrich
  Petroleum Corp       GDP           5        41      10/1/2032
Goodrich
  Petroleum Corp       GDP       8.875     40.75      3/15/2019
Goodrich
  Petroleum Corp       GDP       8.875     40.75      3/15/2019
Gymboree Corp/The      GYMB      9.125        40      12/1/2018
Hartford Life Global
  Funding Trusts       HIG        2.82    99.376      2/15/2015
Hercules Offshore Inc  HERO      10.25      43.1       4/1/2019
Hercules Offshore Inc  HERO      10.25        43       4/1/2019
James River Coal Co    JRCC         10     0.367       6/1/2018
James River Coal Co    JRCC         10         1       6/1/2018
James River Coal Co    JRCC      3.125     0.257      3/15/2018
Kinder Morgan
  Energy Partners LP   KMI       5.625    99.525      2/15/2015
Las Vegas Monorail Co  LASVMC      5.5     3.227      7/15/2019
Lehman Brothers
  Holdings Inc         LEH           5    12.375       2/7/2009
Lehman Brothers Inc    LEH         7.5     9.125       8/1/2026
MF Global
  Holdings Ltd         MF         6.25     31.25       8/8/2016
MF Global
  Holdings Ltd         MF        1.875        32       2/1/2016
MF Global
  Holdings Ltd         MF        3.375        32       8/1/2018
MModal Inc             MODL      10.75    10.125      8/15/2020
Molycorp Inc           MCP           6      14.5       9/1/2017
Molycorp Inc           MCP        3.25    29.875      6/15/2016
Molycorp Inc           MCP         5.5    11.313       2/1/2018
Momentive Performance
  Materials Inc        MOMENT     11.5     1.875      12/1/2016
NII Capital Corp       NIHD         10     45.25      8/15/2016
OMX Timber Finance
  Investments II LLC   OMX        5.54    25.125      1/29/2020
Platinum Energy
  Solutions Inc        PLATEN    14.25     74.75       3/1/2015
Powerwave
  Technologies Inc     PWAV       2.75     0.125      7/15/2041
Powerwave
  Technologies Inc     PWAV      1.875     0.125     11/15/2024
Powerwave
  Technologies Inc     PWAV      1.875     0.125     11/15/2024
Quicksilver
  Resources Inc        KWK       9.125       5.5      8/15/2019
Quicksilver
  Resources Inc        KWK       7.125      4.75       4/1/2016
Quicksilver
  Resources Inc        KWK          11     10.25       7/1/2021
RAAM Global Energy Co  RAMGEN     12.5    38.519      10/1/2015
RadioShack Corp        RSH        6.75    16.646      5/15/2019
RadioShack Corp        RSH        6.75    16.125      5/15/2019
Sabine Oil & Gas Corp  SOGC       7.25    36.303      6/15/2019
Sabine Oil & Gas Corp  SOGC       9.75    41.688      2/15/2017
Samson Investment Co   SAIVST     9.75        35      2/15/2020
Saratoga
  Resources Inc        SARA       12.5     36.75       7/1/2016
Savient
  Pharmaceuticals Inc  SVNT       4.75      0.23       2/1/2018
Swift Energy Co        SFY       7.125    50.326       6/1/2017
TMST Inc               THMR          8         8      5/15/2013
Terrestar
  Networks Inc         TSTR        6.5        10      6/15/2014
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc          TXU       10.25      8.25      11/1/2015
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc          TXU          15     15.75       4/1/2021
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc          TXU       10.25       7.5      11/1/2015
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc          TXU        10.5      9.25      11/1/2016
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc          TXU          15      14.8       4/1/2021
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc          TXU       10.25         8      11/1/2015
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc          TXU        10.5      7.75      11/1/2016
Tunica-Biloxi
  Gaming Authority     PAGON         9     65.25     11/15/2015
Walter Energy Inc      WLT       9.875      16.2     12/15/2020
Walter Energy Inc      WLT         8.5    15.695      4/15/2021
Walter Energy Inc      WLT       9.875    15.375     12/15/2020
Walter Energy Inc      WLT       9.875    15.375     12/15/2020


                            *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

                            *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.  
Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
Tumanda, Valerie Udtuhan, Howard C. Tolentino, Carmel Paderog,
Meriam Fernandez, Joel Anthony G. Lopez, Cecil R. Villacampa,
Sheryl Joy P. Olano, Psyche A. Castillon, Ivy B. Magdadaro, Carlo
Fernandez, Christopher G. Patalinghug, and Peter A. Chapman,
Editors.

Copyright 2015.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $975 for 6 months delivered via
e-mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Peter A.
Chapman at 215-945-7000 or Nina Novak at 202-362-8552.

                   *** End of Transmission ***