/raid1/www/Hosts/bankrupt/TCR

/raid1/www/Hosts/bankrupt/TCR_Public/150909.mbx T R O U B L E D C O M P A N Y R E P O R T E R Wednesday, September 9, 2015, Vol. 19, No. 252 Headlines 99 CENTS: Bank Debt Trades at 5% Off ALTEGRITY LLC: Officially Exits Chapter 11 Protection AMSCO STEEL: Has Interim Use of Cash Collateral AMSCO STEEL: Lender Wants Sale Fast Tracked, Bid Terms Revised ATLANTIC & PACIFIC: Judge OKs Request to Change Bumping Policies BAHA MAR: Bahamian Supreme Court Appoints Provisional Liquidator BAHA MAR: Wants to File Ch. 11 Plan Without Disclosure Statement BOOMERANG TUBE: Plan Modified to Add Wells Fargo Claim Treatment BRAND ENERGY: Bank Debt Trades at 10% Off BULLIONDIRECT INC: Wants Suzuki's Objection to Application Denied CAESARS ENTERTAINMENT: 2017 Bank Debt Trades at 8% Off CAESARS ENTERTAINMENT: 2020 Bank Debt Trades at 5% Off CAESARS ENTERTAINMENT: NY Judge Denies Victory to Jr. Bondholders CAMBRIDGE ENDOSCOPIC: Files for Chapter 11 Bankruptcy COCO BEACH: Auction Set for Nov. 23 CORINTHIAN COLLEGES: Needs Until Nov. 2 to Decide on Leases COYNE INT'L: U.S. Trustee Appoints Lee Woodward as Ch. 11 Examiner COYNE INTERNATIONAL: On Track to Complete Sale of Operating Units DEERFIELD RANCH: Asks Court to Extend Plan Filing Date to Oct. 30 DEERFIELD RANCH: Can Use Cash Collateral Until Oct. 31 DIVERSE ENERGY: Voluntary Chapter 11 Case Summary ENERGY TRANSFER: Bank Debt Trades at 4% Off ERG INTERMEDIATE: Withdraws Bid to Sell Assets F-SQUARED INVESTMENT: Court Approves Richards Layton as Counsel F-SQUARED INVESTMENT: Court Okays Hiring of PL Advisors as Banker F-SQUARED INVESTMENT: Panel Hires Rosner Group as Counsel F-SQUARED INVESTMENT: Panel Taps Brown Rudnick as Co-counsel FEDERATION EMPLOYMENT: Sale of 2 Apartment Units Approved FLINTKOTE COMPANY: Seeks Dec. 31 Extension of Exclusive Periods FORTESCUE METALS: Bank Debt Trades at 19% Off FREDERICK'S OF HOLLYWOOD: Has Until Dec. 15 to File Plan FREDERICK'S OF HOLLYWOOD: Unsecureds to Get 2.9% Under Plan GEORGETOWN MOBILE: Dismissal Hearing Continued Until Sept. 22 GULF PACKAGING: Has Until Oct. 30 to Decide on Calif. Lease GULF PACKAGING: Has Until Oct. 30 to File Plan HAMPTON TRANSPORTATION: Case Summary & 20 Top Unsecured Creditors HAMPTON TRANSPORTATION: Files for Chapter 11 Bankruptcy HEALTH DIAGNOSTIC: Kutak Rock Submits Verified Statement HERCULES OFFSHORE: Can Assume Exit Financing Commitment Letter HILLVIEW, KY: Failed Mediation Leads to Chapter 9 Filing HYPNOTIC TAXI: Amends Schedules of Assets and Liabilities HYPNOTIC TAXI: Fox Rothschild Represents Trade Creditors, Lender KARMALOOP INC: Says Lack of Funding Warrants Ch. 7 Conversion LAKE LAS VEGAS: Credit Suisse Ordered to Pay $287.5MM to Highland LUCA INTERNATIONAL: US Trustee Forms 5-Member Equity Committee MF GLOBAL: Giddens Starts Final 95% Distribution to Unsec Creditors MIDWAY GOLD US: Files Schedules and Statements MOLYCORP INC: Said to Draw Interest From Buyers for Non-US Assets MOLYCORP INC: Seeks Bonuses for Senior Execs, Key Employees NRAD MEDICAL: SilvermanAcampora Files Rule 2016(b) Statement O.W. BUNKER: Bomin Asks Court to Allow 1.35MM Claim O.W. BUNKER: Court Enters Plan Scheduling Order PARADIGM EAST HANOVER: To Seek Confirmation of Plan on Oct. 6 PARKVIEW ADVENTIST: CMHC Asks Judge to Revise Sale Order PARKVIEW ADVENTIST: Sept. 23 Hearing on Bid to Use Sale Proceeds PENNYSAVER: Asset Auction Scheduled for Sept. 16-17 POINT BLANK: Nov. 9 Confirmation Hearing for Liquidation Plan QUICKSILVER INC: Said to File for Prearranged Bankruptcy RADIOSHACK CORP: Needs Until Oct. 30 to Solicit Plan Votes RECOVERY CENTERS: Okayed to Sell Kent Property to Valley Cities REICHHOLD HOLDINGS: Seeks Until Nov. 27 to File Plan RIENZI & SONS: Has Sixth Interim Cash Collateral Order RREAF O&G: U.S. Trustee Unable to Form Creditors' Committee SAN JUAN RESORT: Seeks Final Decree Closing Chapter 11 Case SANDY CREEK: Bank Debt Trades at 5% Off SANTA FE GOLD: Court Issues Joint Administration Order SANTA FE GOLD: Has Interim OK to Tap Waterton DIP Loan SANTA FE GOLD: Has Until Sept. 25 to File Schedules SEADRILL LTD: Bank Debt Trades at 32% Off SIGNAL INTERNATIONAL: Court Approves Young Conaway as Counsel SIGNAL INTERNATIONAL: Court OKs GGG Partners as Financial Advisor SIGNAL INTERNATIONAL: Kurtzman Carson Okayed as Admin. Advisors SIGNAL INTERNATIONAL: Proposes Oct. 8 Disclosure Statement Hearing SIGNAL INTERNATIONAL: SSG Advisors Okayed as Investment Bankers SPECTRUM ANALYTICAL: Court Approves Sale to Eurofins Scientific STERLING & SEVENTH: Voluntary Chapter 11 Case Summary STRATECO RESOURCES: Quebec Court Extends CCAA Process Until Oct. 1 TRONOX INC: Bank Debt Trades at 6% Off VERMEIL LLC: Voluntary Chapter 11 Case Summary VOICE PAC: Bankruptcy Trustee to Put Assets Up for Sale WALTER ENERGY: Files Plan Without Offer to Jr. Bondholders ********* 99 CENTS: Bank Debt Trades at 5% Off ------------------------------------ Participations in a syndicated loan under which 99 Cents Only Stores is a borrower traded in the secondary market at 94.55 cents-on-the-dollar during the week ended Friday, September 4, 2015, according to data compiled by LSTA/Thomson Reuters MTM Pricing and reported in the September 8, 2015, edition of The Wall Street Journal. This represents an increase of 0.49 percentage points from the previous week, The Journal relates. 99 Cents Only Stores pays 350 basis points above LIBOR to borrow under the facility. The bank loan matures on January 13, 2019. Moody's rates the loan 'B2' and Standard & Poor's gave a 'B' rating to the loan. The loan is one of the biggest gainers and losers among 229 widely quoted syndicated loans with five or more bids in secondary trading for the week ended Friday, September 4. ALTEGRITY LLC: Officially Exits Chapter 11 Protection ----------------------------------------------------- Altegrity Inc. and its affiliates have officially emerged from Chapter 11 protection, according to a filing with the U.S. Bankruptcy Court in Delaware. Altegrity said in the court filing that the companies' joint Chapter 11 plan of reorganization became effective on August 31. The restructuring plan, confirmed on August 14 by U.S. Bankruptcy Judge Laurie Selber Silverstein, aimed to trim Altegrity's roughly $1.8 billion in debt. The plan provided for a 2.2% estimated recovery of allowed general unsecured claims totaling $82.5 million; 7.7% recovery of Third Lien Notes Claims totaling $66.3 million; and 48.4% recovery of Secured Second Lien Notes Claims totaling $519.27 million. Judge Silverstein approved the plan following Altegrity's global settlement with creditors, including the U.S. government which agreed to drop false-billing claims, worth tens of millions of dollars, against the company. 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. Altegrity Inc. and 37 of its affiliates filed Chapter 11 Bankruptcy petitions (Bankr. D. Del. Lease Case No. 15-10226) on Feb. 8, 2015. Jeffrey S. Campbell signed the petitions as president and chief financial officer. The Debtors disclosed total assets of $1.7 billion and total liabilities of $2.1 billion as of June 30, 2014. M. Natasha Labovitz, Esq., Jasmine Ball, Esq., and Craig A. Bruens, Esq., at Debevoise & Plimpton LLP serve as the Debtors' counsel. Joseph M. Barry, Esq., Ryan M. Bartley, Esq., and Edmon L. Morton, Esq., at Young, Conaway, Stargatt & Taylor, LLP, act as the Debtors' Delaware and conflicts counsel. Stephen Goldstein and Lloyd Sprung, at Evercore Group, LLC, are the Debtors' investment bankers. Kevin M. McShea and Carrianne J. M. Basler, at Alixpartners LLP serve as the Debtors' restructuring advisors. Prime Clerk LLC is the Debtors' claims and noticing agent. PricewaterhouseCoopers LLP serves as the Debtors' independent auditors. The Bankruptcy Court has scheduled for May 5, 2015, the hearing to consider the approval of the disclosure statement explaining the Debtor's plan, which proposes to liquidate the US Investigations Services. Land Line relates that USIS lost key federal background check contracts. The U.S. Trustee for Region 3 appointed six creditors to serve on the official committee of unsecured creditors. The Creditors' Committee retained Wilmer Cutler Pickering Hale & Dorr LLP, as lead counsel, and Bayard, P.A., as Delaware co-counsel. * * * Judge Laurie Selber Silverstein of the U.S. Bankruptcy Court for the District of Delaware on May 15, 2015, approved the disclosure statement explaining Altegrity, Inc., et al.'s Joint Chapter 11 Plan. A hearing to confirm the Plan was scheduled for July 1, 2015. As reported in the April 1, 2015 edition of the Troubled Company Reporter, the Debtors filed a Joint Chapter 11 Plan and accompanying disclosure statement that will delever the Company by approximately $700 million, or 40% of the Debtors' outstanding debt. The Plan provides for a 2.2% estimated recovery of allowed general unsecured claims, which total approximately $82,510,532. Holders of Secured Third Lien Notes Claims are poised to recover 7.7% of their estimated $66,304,133 total amount of claims. Holders of Secured Second Lien Notes Claims are poised to recover 48.4% of their estimated $519,265,011 total amount of claims. A full-text copy of the Disclosure Statement dated May 16, 2015, is available at http://bankrupt.com/misc/ALTEGRITYds0516.pdf Judge Silverstein on Aug. 14, 2015, issued findings of fact, conclusions of law, and order confirming Altegrity, Inc., et al.'s Joint Plan of Reorganization. AMSCO STEEL: Has Interim Use of Cash Collateral ----------------------------------------------- The United States Bankruptcy Court of the Northern District of Texas, Fort Worth Division, gave Amsco Steel Company, LLC, and Yndus Steel & Aluminum Co., Inc., interim authority to use cash collateral to pay costs of operations of the Debtors' businesses. The Debtors' authority to use cash collateral terminated on August 29, 2015. Lender Marquette Business Credit SPE I, LLC, opposed the Debtors' motion to use cash collateral, complaining that the Debtors were unable to refinance their operations or sell their business despite considerable efforts over the last year. Marquette told the Court that it will receive no benefit from the continued operation of the businesses, and any claim of the estate pursuant to Section 506(c) of the Bankruptcy Code should be waived by the estates if the Court grants the Debtors any further use of Cash Collateral. To the extent of any dimunition of the value of Marquette's collateral resulting from the Debtors' use of cash collateral, the Court granted Marquette a replacement security interest in, and lien, upon the right, title and interest in the following property of the Debtors: (a) the prepetition Collateral of Marquette; and (b) any property acquired by the Debtors after the Petition date, which is of the same nature, kind and character as Marquette's prepetition collateral, and all products and proceeds therof with the same priority, validity, force and effect as the liens that they replaced. Marquette is represented by: Lynnette R. Warman, Esq. CULHANE MEADOWS PLLC 100 Crescent Court, Suite 700 Dallas, Texas 75201 Tel: (214) 693-6525 Email: lwarman@culhanemeadows.com About Amsco Steel AMSCO Steel Company, LLC, and Pyndus Steel & Aluminum Co., Inc., sought protection under Chapter 11 of the Bankruptcy Code on Aug. 10, 2015 (Bankr. N.D. Tex., Case No. 15-43240). The Debtors are suppliers and processors of steel products for a wide variety of customers throughout the United States and Mexico. The case is assigned to Judge Russell F. Nelms. The Debtors' counsel are J. Robert Forshey, Esq., and Matthew G. Maben, Esq., at Forshey & Prostok, LLP, in Forth Worth, Texas. AMSCO STEEL: Lender Wants Sale Fast Tracked, Bid Terms Revised -------------------------------------------------------------- Marquette Business Credit SPE I, LLC, objects to the motion of AMSCO Steel Company, LLC, and Pyndus Steel & Aluminum Co., Inc., to sell substantially all of the Debtors' assets. Lynette R. Warman, Esq., representing Marquette, states that the Debtors have significant liquidity issues. In the first two weeks of the cases they have not been able to generate collections or new sales anywhere close to their projections. Their sales and collections have fallen to the point where the Debtors cannot continue to operate and pay their bills through the end of October. The Debtors are currently incurring administrative expenses for operating costs which they have no funds to pay. The Debtors' proposed budget projects revenue which is inconsistent with its current operations and provides no information to suggest why sales would improve while the sale process is ongoing. The Lender agrees the Debtors' assets should be sold at auction, however, the process must occur on a faster timetable, and can only work if the Debtors significantly reduce their operating expenses. Moreover, the Buyer should not be granted a super-priority administrative claim for the break-up fee. Ms. Warman notes that the bid procedures are provide an unfair advantage to the stalking horse. While the stalking horse bid is subject to a financing contingency, other bidders are not allowed that advantage. Other bidders must submit a deposit of about $150,000 with their bid, but there appears to be no deadline for the stalking horse buyer to make the deposit. The stalking horse maintains the absolute right to allocate the proceeds of the sale among different lenders with overlapping security interests. The stalking horse bidder cannot ignore the valid priorities among secured creditors. In addition, the allocation proposed in the Motion constitutes a sub rosa plan not permissible in the Fifth Circuit. Marquette is represented by: Lynnette R. Warman, Esq. Culhane Meadows PLLC 100 Crescent Court, Suite 700 Dallas, TX 75201 Tel: (214) 693-6525 Email: lwarman@culhanemeadows.com About Amsco Steel AMSCO Steel Company, LLC, and Pyndus Steel & Aluminum Co., Inc., sought protection under Chapter 11 of the Bankruptcy Code on Aug. 10, 2015 (Bankr. N.D. Tex., Case No. 15-43240). The Debtors are suppliers and processors of steel products for a wide variety of customers throughout the United States and Mexico. The case is assigned to Judge Russell F. Nelms. The Debtors' counsel are J. Robert Forshey, Esq., and Matthew G. Maben, Esq., at Forshey & Prostok, LLP, in Forth Worth, Texas. ATLANTIC & PACIFIC: Judge OKs Request to Change Bumping Policies ---------------------------------------------------------------- Rhonda Smith, writing for Bloomberg News, reported that U.S. Bankruptcy Judge Robert D. Drain in White Plains, New York, ruled that "cost-neutral" bumping provisions can temporarily be included in 35 collective bargaining agreements the Great Atlantic & Pacific Tea Co. has with the United Food and Commercial Workers that cover 28,500 employees as the company's bankruptcy case proceeds. As previously reported by The Troubled Company Reporter, the Debtors sought interim authority from the Court to modify their collective bargaining agreements in order to achieve a successful chapter 11 process. These modifications consist of the following: (a) Relief from bumping provisions contained in virtually all of the Debtors CBAs, which allow senior employees at stores that are closed to take the jobs of junior employees elsewhere; and (b) Authority to implement a compromise proposal with respect to severance obligations created by the Debtors' CBAs. The Debtors wish to pay a portion of severance on a current basis, with the remainder deferred with a claim to be satisfied in accordance with the Bankruptcy Code's priority and distributional requirements. According to Bloomberg, during a hearing Sept. 1, Ray C. Schrock, an attorney representing the Debtors, told Judge Drain that the grocery store chain had hammered out an agreement to proceed with a bumping policy involving A&P workers represented by UFCW Local 1776 in Pennsylvania. "With the remainder of the locals, we do not have an agreement, unfortunately, on bumping," Mr. Schrock said, the report related. He added that A&P told representatives of the UFCW international and 13 of its locals that the debtors would begin closing A&P stores Sept. 4, and if any "economically neutral" bumping could take place before that date "we're happy to work with them," the report further related. About Atlantic & Pacific Based in Montvale, New Jersey, The Great Atlantic & Pacific Tea Company, Inc., and its affiliates are one of the nation's oldest leading supermarket and food retailers, operating approximately 300 supermarkets, beer, wine, and liquor stores, combination food and drug stores, and limited assortment food stores across six Northeastern states. The primary retail operations consist of supermarkets operated under a variety of well known trade names, or "banners," including A&P, Waldbaum's, SuperFresh, Pathmark, Food Basics, The Food Emporium, Best Cellars, and A&P Liquors. The Company employs approximately 28,500 employees, over 90% of whom are members of one of twelve local unions whose members are employed by the Debtors under the authority of 35 separate collective bargaining agreements. Then with 429 stores, A&P and its affiliates filed Chapter 11 petitions (Bankr. S.D.N.Y. Case No. 10-24549) on Dec. 12, 2010, and in 2012 emerged from Chapter 11 bankruptcy as a privately held company with 320 supermarkets. On July, 19, 2015, with 300 stores, A&P and 20 affiliated debtors each filed a Chapter 11 petition (Bankr. S.D.N.Y.) after reaching deals for the going concern sales of 120 stores. The Debtors are seeking joint administration under Case No. 15-23007. As of Feb. 28, 2015, the Debtors reported total assets of $1.6 billion and liabilities of $2.3 billion. The Debtors tapped Weil, Gotshal & Manges LLP as counsel, Evercore Group L.L.C., as investment banker, FTI Consulting, Inc., as financial advisor, Hilco Real Estate, LLC, as real estate advisor, and Prime Clerk LLC, as claims and noticing agent. The U.S. Trustee for Region 2 appointed seven creditors to serve on the official committee of unsecured creditors. Elise S. Frejka was appointed as consumer privacy ombudsman. BAHA MAR: Bahamian Supreme Court Appoints Provisional Liquidator ---------------------------------------------------------------- The Supreme Court of The Bahamas appointed a provisional liquidator for Baha Mar with limited authority and scheduled the winding up petition two months from now. Baha Mar on Sept. 4 commented on The Supreme Court of The Bahamas' ruling. It said the ruling provides Baha Mar with further time to move forward with its efforts to resolve issues so that it can complete construction properly and open successfully as soon as possible. "[Fri]day has been an important day for Baha Mar -- one that gives us further confidence that we will succeed in our efforts. We are pleased that, in making its ruling, The Bahamian Supreme Court has made it quite clear that the present intention is to not have Baha Mar liquidated or its management replaced. In fact, the judge specifically wants to make sure that Baha Mar's assets are preserved -- which is a priority we all share. "We are confident that Baha Mar will succeed and that the provisional liquidator will not only confirm that Baha Mar is not wasting assets but, that Baha Mar has designed the most expeditious path to move forward with the completion of the project, as Baha Mar has contended all along. "With the distraction of this proceeding behind it, Baha Mar and its counterparties can focus on the tasks at hand, free form the uncertainty that the petition had caused. "Baha Mar is 97% complete. The Chapter 11 process is underway. Baha Mar has developed a plan of reorganization under the Chapter 11 process. This plan is now before the U.S. Court. The plan is the best alternative. It is designed to enable Baha Mar to have a sound financial structure and to put Baha Mar in a position from which it can move forward to be completed properly and open. The plan effectively addresses Baha Mar's creditor obligations, including paying in full all valid claims of Bahamian creditors and the Government of The Bahamas. "We expect the provisional liquidator to work alongside us for the best interests of Baha Mar and The Bahamas." About Baha Mar Enterprises Orlando, Florida-based Northshore Mainland Services Inc., Baha Mar Enterprises Ltd., and their affiliates sought protection under Chapter 11 of the Bankruptcy Code on June 29, 2015 (Bankr. D.Del., Case No. 15-11402). Baha Mar owns, and is in the final stages of developing, a 3.3 million square foot resort complex located in Cable Beach, Nassau, The Bahamas. The case is assigned to Judge Kevin J. Carey. The Debtors are represented by Paul S. Aronzon, Esq., and Mark Shinderman, Esq., at Milbank, Tweed, Hadley & McCloy LLP, in Los Angeles, California; and Gerard Uzzi, Esq., Thomas J. Matz, Esq., and Steven Z. Szanzer, Esq., at Milbank, Tweed, Hadley & McCloy LLP, in New York. The Debtors' Delaware counselare Laura Davis Jones, Esq., James E. O'Neill, Esq., Colin R. Robinson, Esq., and Peter J. Keane, Esq., at Pachulski Stang Ziehl & Jones LLP, in Wilmington, Delaware. The Debtors' Bahamian counsel is Glinton Sweeting O'Brien. The Debtors' special litigation counsel is Kobre & Kim LLP. The Debtors' construction counsel is Glaser Weil Fink Howard Avchen & Shapiro LLP. The Debtors' investment banker and financial advisor is Moelis Company LLC. The Debtors' claims and noticing agent is Prime Clerk LLC. The Committee tapped Cooley LLP as its lead counsel, and Whiteford, Taylor & Preston LLC as its Delaware counsel. BAHA MAR: Wants to File Ch. 11 Plan Without Disclosure Statement ---------------------------------------------------------------- The U.S. Bankruptcy Court for the District of Delaware will convene a hearing on Sept. 21, 2015, at 2:00 p.m. to consider a request by debtors Northshore Mainland Services Inc., et al., for leave to file a Chapter 11 Plan of Reorganization without the concurrent filing of an explanatory Disclosure Statement. Laura Davis Jones, Esq., at Pachulski Stang Ziehl & Jones LLP, explains that in addition to operating their businesses in chapter 11, the Debtors have had to devote significant efforts to, including, without limitation, (i) negotiating, documenting, and implementing the Debtors' debtor-in-possession financing; (ii) objecting to motions to dismiss the Chapter 11 cases and responding to (and propounding) related discovery requests, (iii) retaining necessary professional advisors, (iv) preparing for and filing pleadings in the various proceedings in The Bahamas, including the hearing on the winding-up application, and (v) attending court hearings both in the Bankruptcy Court and the Supreme Court of The Bahamas on the winding-up application pending in that court, as necessary. Additionally, for many weeks, much of the Debtors' resources and attention were primarily dedicated to the multi-party negotiations in Beijing, China in the hope of obtaining a consensual resolution of the issues that precipitated the commencement of the Chapter 11 Cases. Nevertheless, the Debtors have been able to formulate the Plan and seek to file it at this time without concurrently filing the Disclosure Statement to provide the Court with insight regarding the Debtors' vision of the forward progression of the Chapter 11 Cases. To date, the Debtors have not been able to complete a Disclosure Statement to accompany the Plan due to the urgency of matters described above, but currently anticipate completing and filing the Disclosure Statement in the near term. About Baha Mar Enterprises Orlando, Florida-based Northshore Mainland Services Inc., Baha Mar Enterprises Ltd., and their affiliates sought protection under Chapter 11 of the Bankruptcy Code on June 29, 2015 (Bankr. D.Del., Case No. 15-11402). Baha Mar owns, and is in the final stages of developing, a 3.3 million square foot resort complex located in Cable Beach, Nassau, The Bahamas. The case is assigned to Judge Kevin J. Carey. The Debtors are represented by Paul S. Aronzon, Esq., and Mark Shinderman, Esq., at Milbank, Tweed, Hadley & McCloy LLP, in Los Angeles, California; and Gerard Uzzi, Esq., Thomas J. Matz, Esq., and Steven Z. Szanzer, Esq., at Milbank, Tweed, Hadley & McCloy LLP, in New York. The Debtors' Delaware counselare Laura Davis Jones, Esq., James E. O'Neill, Esq., Colin R. Robinson, Esq., and Peter J. Keane, Esq., at Pachulski Stang Ziehl & Jones LLP, in Wilmington, Delaware. The Debtors' Bahamian counsel is Glinton Sweeting O'Brien. The Debtors' special litigation counsel is Kobre & Kim LLP. The Debtors' construction counsel is Glaser Weil Fink Howard Avchen & Shapiro LLP. The Debtors' investment banker and financial advisor is Moelis Company LLC. The Debtors' claims and noticing agent is Prime Clerk LLC. The Committee tapped Cooley LLP as its lead counsel, and Whiteford, Taylor & Preston LLC as its Delaware counsel. BOOMERANG TUBE: Plan Modified to Add Wells Fargo Claim Treatment ---------------------------------------------------------------- Boomerang Tube, LLC, filed with the U.S. Bankruptcy Court for the District of Delaware a further amended joint prearranged Chapter 11 plan to include as "other secured claims" the secured claim Wells Fargo Equipment Finance, Inc., as lender under the equipment financing agreement dated Sept. 12, 2011. Under the Plan, Class 1 - Other Secured Claims will receive a reinstatement of its claim or payment in full in cash of its Allowed Class 1 Claim. The hearing to confirm the Plan will commence on Sept. 21, 2015 at 10:30 a.m. (prevailing Eastern Time). The Court set Sept. 14, 2015, at 4:00 p.m. (prevailing Eastern Time), as the deadline to submit objections to the Plan. The voting deadline is Sept. 14, 2015, at 5:00 p.m. The Joint Prearranged Plan reduces the Debtors' funded debt obligations by converting approximately $214 million in outstanding principal of Term Loan Facility obligations into (i) 100% of the New Holdco Common Stock (subject to dilution for (1) the payment of the Exit Term Facility Backstop Fee and the Exit Term Facility Closing Fee in the aggregate equal to collectively 20% of the New Holdco Common Stock as of the closing date of the Exit Term Facility and (2) issuances of equity under a management incentive plan not to exceed 5% of the total outstanding equity of New Holdco) and (ii) $55 million of subordinated secured notes issued by New Opco. The Plan provides that New Holdco will hold 100% of the New Opco Common Units. Holders of Allowed General Unsecured Claims will receive their pro rata share of the GUC Trust Proceeds allocated to holders of General Unsecured Claims in accordance with the GUC Trust Waterfall. A blacklined version of the Plan, dated Sept. 4, 2015, is available at http://bankrupt.com/misc/BOOMERANGplan0904.pdf About Boomerang Tube Boomerang Tube, LLC, is a manufacturer of welded Oil Country Tubular Goods ("OCTG") in the United States. OCTG are used by drillers in exploration and production of oil and natural gas and consist of drill pipe, casing and tubing. Boomerang has corporate offices in Chesterfield, Missouri and manufacturing facilities in Liberty, Texas, strategically located near major steel production centers and end-user markets. With a 487,000 square foot plant that houses two mills and heat treat lines and a contingent 119 acres, these facilities constitute the second largest alloy OCTG mill in North America. Access Tubulars, LLC, owns 81% of the equity interests in Boomerang. Boomerang Tube and its subsidiaries BTCSP LLC and BT Financing sought Chapter 11 protection (Bankr. D. Del. Lead Case No. 15-11247) on June 9, 2015, with a deal with lenders on a balance sheet restructuring that would convert $214 million of debt to 100% of the common stock of the reorganized company. The Debtor disclosed $272,205,337 in assets and $300,375,946 in liabilities as of the Chapter 11 filing. The cases are assigned to Judge Mary F. Walrath. The Debtors tapped Young Conaway Stargatt & Taylor, LLP, as attorneys; Lazard Freres & Co. LLC, as financial advisor; and Donlin, Recano & Co., Inc., as claims and noticing agent. Boomerang Tube disclosed $272,205,337 in assets and $300,375,946 in liabilities as of the Chapter 11 filing. On June 30, 2015, the Debtor filed a bankruptcy-exit plan and explanatory disclosure statement. The U.S. Trustee overseeing the Chapter 11 case appointed five creditors to serve on an official committee of unsecured creditors. The Committee is represented by Brown Rudnick LLP., and Morris, Nichols, Arsht & Tunnel LLP. BRAND ENERGY: Bank Debt Trades at 10% Off ----------------------------------------- Participations in a syndicated loan under which Brand Energy & Infrastructure Services is a borrower traded in the secondary market at 89.60 cents-on-the-dollar during the week ended Friday, September 4, 2015, according to data compiled by LSTA/Thomson Reuters MTM Pricing and reported in the September 8, 2015, edition of The Wall Street Journal. This represents a decrease of 2.90 percentage points from the previous week, The Journal relates. Brand Energy & Infrastructure Services pays 375 basis points above LIBOR to borrow under the facility. The bank loan matures on November 12, 2020. Moody's rates the loan 'B1' and Standard & Poor's gave a 'B' rating to the loan. The loan is one of the biggest gainers and losers among 229 widely quoted syndicated loans with five or more bids in secondary trading for the week ended Friday, September 4. BULLIONDIRECT INC: Wants Suzuki's Objection to Application Denied ----------------------------------------------------------------- BullionDirect, Inc., requested that the U.S. Bankruptcy Court for the Western District of Texas deny the limited objection of creditor Dr. Kazu Suzuki's to the application for employment of Martinec, Winn & Vickers, P.C., as counsel. Dr. Suzuki, in his limited objection, requested that no order be entered on the application until after an Official Committee of Unsecured Creditors is formed and has had an opportunity to review and comment on the application. According to Dr. Suzuki, the law firm attached an engagement agreement executed on July 20, 2015, with an effective date of June 16, 2015. Dr. Suzuki reserved additional objections he may have to the application. The Debtor, in its response, said that the formation of a Committee will have occurred before the matter is heard. Postponement to allow Committee involvement is not opposed. Dr. Suzuki is represented by: Peter C. Ruggero, Esq. RUGGERO LAW FIRM, PC 1411 West Ave, Ste 200 Austin, Texas 78701 Tel: (512) 473-8676 Fax: (512) 852-4407 E-mail: peter@ruggerolaw.com About BullionDirect BullionDirect, Inc. filed a Chapter 11 bankruptcy petition (Bankr. W.D. Tex. Case No. 15-10940) on July 20, 2015. Dan Bensimon signed the petition as president. The Debtor disclosed total assets of $48,107 and total liabilities of $16,955,330 as of the Chapter 11 filing. Joseph D. Martinec, Esq., at Martinec, Winn & Vickers, P.C., represents the Debtor as counsel. Judge Tony M. Davis presides over the case. The U.S. Trustee for Region 7 appointed three creditors to serve on an official committee of unsecured creditors. CAESARS ENTERTAINMENT: 2017 Bank Debt Trades at 8% Off ------------------------------------------------------ Participations in a syndicated loan under which Caesars Entertainment Inc. is a borrower traded in the secondary market at 92.35 cents-on-the-dollar during the week ended Friday, September 4, 2015, according to data compiled by LSTA/Thomson Reuters MTM Pricing and reported in the September 8, 2015, edition of The Wall Street Journal. This represents an increase of 1.35 percentage points from the previous week, The Journal relates. Caesars Entertainment Inc. pays 875 basis points above LIBOR to borrow under the facility. The bank loan matures on March 1, 2017. Moody's rates the loan 'WR' and Standard & Poor's gave a 'D' rating to the loan. The loan is one of the biggest gainers and losers among 229 widely quoted syndicated loans with five or more bids in secondary trading for the week ended Friday, September 4. CAESARS ENTERTAINMENT: 2020 Bank Debt Trades at 5% Off ------------------------------------------------------ Participations in a syndicated loan under which Caesars Entertainment Inc. is a borrower traded in the secondary market at 95.25 cents-on-the-dollar during the week ended Friday, September 4, 2015, according to data compiled by LSTA/Thomson Reuters MTM Pricing and reported in the September 8, 2015, edition of The Wall Street Journal. This represents an increase of 0.71 percentage points from the previous week, The Journal relates. Caesars Entertainment Inc. pays 600 basis points above LIBOR to borrow under the facility. The bank loan matures on September 24, 2020. Moody's rates the loan 'B2' and Standard & Poor's gave a 'CCC+' rating to the loan. The loan is one of the biggest gainers and losers among 229 widely quoted syndicated loans with five or more bids in secondary trading for the week ended Friday, September 4. CAESARS ENTERTAINMENT: NY Judge Denies Victory to Jr. Bondholders ----------------------------------------------------------------- Bill Rochelle, a bankruptcy columnist at Bloomberg News, reported that U.S. District Judge Shira Scheindlin in New York handed down a 41-page opinion on Aug. 27 where she bent to some of Caesars Entertainment Operating Co.'s arguments and refused to give junior bondholders an immediate victory, after the creditors asked her to rule there was a violation of the federal Trust Indenture Act, or TIA, entitling them to the reinstatement of guarantees by non-bankrupt parent Caesars Entertainment Corp. that were taken away last year. The report related that in January, just as the bankruptcy began, Judge Scheindlin seemingly ruled that the non-bankrupt parent violated federal law when it shuffled assets and refinanced debt as part of an alleged scheme to protect itself from lower-ranking creditors. Junior lenders latched onto Judge Scheindlin's conclusion by filing papers contending that she could reinstate guarantees without holding a trial, but Judge Scheindlin, in the Aug. 27 ruling, not only denied the junior bondholders an immediate victory, she also on her own authorized an immediate appeal of the underlying issues to the U.S. Court of Appeals in Manhattan, the report related. About Caesars Entertainment Caesars Entertainment Corp., formerly Harrah's Entertainment Inc., is one of the world's largest casino companies. Caesars casino resorts operate under the Caesars, Bally's, Flamingo, Grand Casinos, Hilton and Paris brand names. The Company has its corporate headquarters in Las Vegas. Harrah's announced its re-branding to Caesar's in mid-November 2010. In January 2015, Caesars Entertainment and subsidiary Caesars Entertainment Operating Company, Inc., announced that holders of more than 60% of claims in respect of CEOC's 11.25% senior secured notes due 2017, CEOC's 8.5% senior secured notes due 2020 and CEOC's 9% senior secured notes due 2020 have signed the Amended and Restated Restructuring Support and Forbearance Agreement, dated as of Dec. 31, 2014, among Caesars Entertainment, CEOC and the Consenting Creditors. As a result, The RSA became effective pursuant to its terms as of Jan. 9, 2015. Appaloosa Investment Limited, et al., owed $41 million on account of 10% second lien notes in the company, filed an involuntary Chapter 11 bankruptcy petition against CEOC (Bankr. D. Del. Case No. 15-10047) on Jan. 12, 2015. The bondholders are represented by Robert S. Brady, Esq., at Young, Conaway, Stargatt & Taylor LLP. CEOC and 172 other affiliates -- operators of 38 gaming and resort properties in 14 U.S. states and 5 countries -- filed Chapter 11 bankruptcy petitions (Bank. N.D. Ill. Lead Case No. 15-01145) on Jan. 15, 2015. CEOC disclosed total assets of $12.3 billion and total debt of $19.8 billion as of Sept. 30, 2014. Delaware Bankruptcy Judge Kevin Gross entered a ruling that the bankruptcy proceedings will proceed in the U.S. Bankruptcy Court for the Northern District of Illinois. Kirkland & Ellis serves as the Debtors' counsel. AlixPartners is the Debtors' restructuring advisors. Prime Clerk LLC acts as the Debtors' notice and claims agent. Judge Benjamin Goldgar presides over the cases. The U.S. Trustee has appointed seven noteholders to serve in the Official Committee of Second Priority Noteholders and nine members to serve in the Official Unsecured Creditors' Committee. The U.S. Trustee appointed Richard S. Davis as Chapter 11 examiner. * * * The Troubled Company Reporter, on April 27, 2015, reported that Fitch Ratings has affirmed and withdrawn the Issuer Default Ratings (IDR) and issue ratings of Caesars Entertainment Operating Company (CEOC). These actions follow CEOC's Chapter 11 filing on Jan. 15, 2015. Accordingly, Fitch will no longer provide ratings or analytical coverage for CEOC. In addition, Fitch has affirmed the IDR and issue rating of Chester Downs and Marina LLC (Chester Downs) and the ratings have been simultaneously withdrawn for business reasons. CAMBRIDGE ENDOSCOPIC: Files for Chapter 11 Bankruptcy ----------------------------------------------------- Cambridge Endoscopic Devices Inc., a Framingham medical device company, sought protection under Chapter 11 of the Bankruptcy Code. According to Eric Convey, writing for Boston Business Journal, the company listed assets of $3.1 million and liabilities of more than $17.2 million and listed as creditors its three lenders: White Sand Beach of New York City, which resprents a group of debtors and is owed $8.1 million; Walter Winshall of Weston, Massachusetts, owed $2.9 million; and Joong Hahn of Sagamore, Ohio, owed $1.7 million. The filing also lists equity investors whose common stock holdings are valued at $8.85 million, the report said. COCO BEACH: Auction Set for Nov. 23 ----------------------------------- Judge Enrique Lamoutte of the United States Bankruptcy Court for the District of Puerto Rico approved the bidding procedures governing the sale of substantially all assets of Coco Beach Golf & Country Club, Inc. and sets the auction for Nov. 23. The Debtors entered into an asset purchase agreement with d OHorizons Global, LLC. In order to receive the highest and best price for the assets, competing bids are due Nov. 16. If more than one qualified bid is received, an auction will be conducted on Nov. 23, with the sale hearing to occur on Dec. 1. Puerto Rico Tourism Development Fund filed a limited objection to the proposed bidding procedures, asserting that the time frame provided to potential interested bidders is too short and will chill what should otherwise be an open and competitive bidding process. The TDF complained that, in essence, the Proposed Bidding Procedures propose a period of not more than forty five days, commencing on the date of entry of an order approving the bidding procedures, for the Debtor to provide and publish notice of the proposed sale to all potential bidders, for such potential bidders to receive and analyze the sale notice and sale documents, for such potential bidders to hire professionals and commence and conclude their due diligence analysis, negotiate and secure a firm financing for the acquisition, and submit a Qualified Bid. The Debtor, in response, asked the Court to expand the time for the Debtor to provide and publish notice of the sale and for potential qualified bidders to submit bids to 60 days from the date the Sale Notice is published and served on creditors and parties in interest and that the deadline for submission of bids be set for fifteen after the conclusion of the due diligence period. The Debtor is represented by: Charles A. Cuprill-Hernández, Esq. Charles A. Cuprill, P.S.C., Law Offices 356 Fortaleza Street - Second Floor San Juan, PR 00901 Tel: (787) 977-0515 Fax: (787) 977-0518 Email: ccuprill@cuprill.com Puerto Rico Tourism Development Fund is represented by: Luis C. Marini, Esq. Myrna L. Ruiz-Olmo, Esq. O’NEILL & BORGES LLC 250 Muñoz Rivera Avenue, Suite 800 San Juan, Puerto Rico 00918-1813 Tel: (787) 764-8181 Fax: (787) 753-8944 Email: luis.marini@oneillborges.com myrna.ruiz@oneillborges.com About Coco Beach Golf Coco Beach Golf & Country Club, S.E., owner of a first class golf and country club in Rio Grande, Puerto Rico, currently operating under the name of Trump International Golf Club Puerto Rico, sought Chapter 11 protection (Bankr. D.P.R. Case No. 15-05312) in Old San Juan, Puerto Rico, on July 13, 2015, and immediately filed a motion seeking to sell most of the assets for $2.04 million in cash to OHorizons Global, LLC, subject to higher and better offers. Charles Alfred Cuprill, Esq., at Charles A Cuprill, P.S.C. Law Offices, serves as counsel to the Debtor. CORINTHIAN COLLEGES: Needs Until Nov. 2 to Decide on Leases ----------------------------------------------------------- Corinthian Colleges, Inc., and its affiliated debtors ask the U.S. Bankruptcy Court for the District of Delaware to extend the time by which they must decide whether to assume or reject leases of nonresidential real property through and including November 2, 2015. The Debtors tell court they need more time to work with the two trustees to address the desirability of having the Unexpired Leases assumed and assigned to the Distribution Trust or Student Trust, as the case may be. Most, if not all, of these storage leases are prepaid for the remaining life of the lease, the Debtors further tell the Court. Accordingly, in the event that the Debtors have not filed a motion to assume and assign an Unexpired Lease by the Effective Date on or later than September 1, 2015, the current deadline for assuming or rejecting Unexpired Leases under Section 365(d)(4) of the Bankruptcy Code, the Unexpired Leases will be deemed rejected by the Plan. The Debtors are represented by: Mark D. Collins, Esq. Michael J. Merchant, Esq. Marisa A. Terranova, Esq. Amanda R. Steele, Esq. RICHARDS, LAYTON & FINGER, P.A. 920 N. King Street Wilmington, Delaware 19801 Tel: (302) 651-7700 Fax: (302) 651-7701 Email: collins@rlf.com merchant@rlf.com terranova@rlf.com steele@rlf.com About Corinthian Colleges Corinthian Colleges, Inc., Pegasus Education, Inc., and 23 affiliated entities filed voluntary Chapter 11 petitions (Bankr. D. Del. Lead Case No. 15-10952) on May 4, 2015, to complete an orderly wind down of its operations. The cases are jointly administered Case No. 15-10952. Judge Kevin J. Carey presides over the case. Richards, Layton & Finger, P.A., represents the Debtors in their restructuring efforts; FTI Consulting, Inc. serves as restructuring advisors; and Rust Consulting/Omni Bankruptcy serves as claims and noticing agent. The U.S. Trustee for Region 3 appointed five creditors to serve on the official committee of unsecured creditors. Cooley LLP serves as its lead counsel, Foley & Mansfield, PLLP serves as its local counsel, and Province Inc. serves as its financial advisor. Judge Kevin J. Carey of the U.S. Bankruptcy Court for the District of Delaware, on Aug. 28, issued an order confirming Corinthian Colleges, Inc., et al.'s Third Amended and Modified Combined Disclosure Statement and Chapter 11 Plan of Liquidation. The Combined Plan incorporates a compromise between the Debtors, the Official Committee of Unsecured Creditors, the Student Committee and the Prepetition Secured Parties as to the Distribution of the Debtors' assets already liquidated or to be liquidated over time to the Holders of Allowed Claims in accordance with the terms of the Combined Plan and Disclosure Statement and the priority of claims provisions of the Bankruptcy Code. The Combined Plan provides for the Prepetition Secured Parties to release any liens they may otherwise have upon, and forgo any recoveries from, the Student Refund Reserve, thereby enabling the Debtors to transfer their rights and interest in those funds (in the approximate amount of $4.3 million) to the Student Trust. COYNE INT'L: U.S. Trustee Appoints Lee Woodward as Ch. 11 Examiner ------------------------------------------------------------------ William K. Harrington, United States Trustee for Region 2, at the direction of the United States Bankruptcy Court Northern District of New York, appointed Lee E. Woodard as examiner in the Chapter 11 case of Coyne International Enterprises Corp. The United States Trustee, the Debtor, and CTS Acquisition, Inc., entered into a stipulation agreeing that an examiner should be appointed to: (a) ascertain whether SSG Capital Advisors LLC, the investment banking firm engaged by the Debtor to market for sale the Debtor's assets, has performed its prepetition and postpetition activities for the Debtor in a commercially reasonable and good faith manner; (b) monitor and investigate the steps undertaken by SSG after the Petition Date in support of the sale process, including the marketing of the Debtor's assets and the solicitation of competing bids; (c) review all of the Debtor's appraisals and valuations for the assets to be sold, to the extent same exist; (d) Interact with Debtor's management and other parties to ascertain whether the bidding process and procedures have been and will be fair and reasonable under the circumstances; (e) review the proposed acquisition of the Core Assets by Acquisition Newco and the subsequent assignment to CTS Acquisition, Inc.; and (f) examine the fairness of any potential transaction and promote the full and adequate disclosure of information to the Court. The U.S. Trustee informed the Court that to his knowledge, Mr. Woodard has no connections with the Debtor, its creditors, or any other parties-in-interest. The Debtor is represented by: Hanh V Huynh, Esq. Robert L Rattet, Esq. Stephen B Selbst, Esq. HERRICK FEINSTEIN LLP 2 Park Avenue New York, NY 10016 Tel: 212-592-1482 Email: hhuynh@herrick.com rrattet@herrick.com sselbst@herrick.com The U.S. Trustee is represented by: Guy A. Van Baalen, Esq. Assistant U.S. Trustee U.S. Department of Justice Office of the United States Trustee U.S. Federal Office Building 10 Broad Street, Room 105 Utica, NY 13501 Tel: (315) 793-8191 Email: Guy.a.vanbalen@usdoj.com CTS Acquisition, Inc. is represented by: Charles J. Sullivan, Esq. BOND, SCHOENECK & KING PLLC One Lincoln Center 110 West Fayette Street Syracuse, New York 13202 Tel: (315) 218-8000 Fax: (315) 218-8100 Email: csullivan@bsk.com Coyne International Enterprises Corp. filed a Chapter 11 bankruptcy petition (Bankr. N.D.N.Y. Case No. 15-31160) on July 31, 2015. The petition was signed by Mark Samson as CEO. The Debtor estimated assets of $10 million to $50 million and liabilities of at least $50 million. Herrick Feinstein LLP serves as the Debtor's general counsel. Phillips Lytle LLP acts as the Debtor's local bankruptcy counsel. Cohnreznick LLP is the Debtor's financial advisor. SSG Capital Advisors LLC is the Debtor's investment banker. Rust Omni serves the Debtor as claims and administrative agent. Raab, Sturm & Ganchrow, LLP acts as labor counsel to the Debtor. Harbridge Consulting Group, LLC serves as the Debtor's pension consultant. Beveridge & Diamond PC is the Debtor's environmental counsel. GZA Geoenvironmental, Inc., represents the Debtor as environmental consultant. COYNE INTERNATIONAL: On Track to Complete Sale of Operating Units ----------------------------------------------------------------- Coyne International Enterprises Corp., a U.S. commercial laundry service company, on Sept. 8 disclosed that it is progressing in its Chapter 11 case filed in the U.S. Bankruptcy Court for the Northern District of New York in Syracuse on July 31, 2015, and remains on track to complete three planned sales of its operating units in a balance sheet restructuring. The three planned sales are: New Bedford, Massachusetts, which will be sold to Clean Uniforms and More!; Richmond, Virginia and Greenville, South Carolina, which will be sold to Prudential Overall Supply; and the remaining plants and service centers -- Bristol, Tennessee, Buffalo, New York, Cleveland, Ohio, London, Kentucky, Syracuse, New York, and York, Pennsylvania -- which will be acquired by Coyne's existing senior management team. All the above is subject to higher and better bids. Coyne is operating under the supervision of the Bankruptcy Court, and Coyne's current management team is leading the company throughout the Chapter 11 process. Coyne recently filed notices under the Worker Adjustment and Retraining Notification Act (WARN Act); these were part of ensuring a seamless transition to buyers with no service interruption to customers. "The WARN Act filings were a formality because there will be a change of control in Coyne's business entities," said Mark Samson, Coyne's CEO. "There are buyers lined up for all of Coyne's facilities. There are two locations that could be impacted by possible layoffs -- New Bedford, Massachusetts, and Greenville, South Carolina. Under the existing deal, approximately 525 jobs will be preserved out of approximately 620 positions." Subject to Bankruptcy Court approval, NXT Capital, LLC has agreed to provide Coyne with $3.5 million in debtor-in-possession financing to finance the company's operations in Chapter 11. Herrick, Feinstein LLP is representing Coyne as lead bankruptcy counsel. Phillips Lytle LLP is local counsel. Coyne's financial advisor is CohnReznick LLP, and its investment banker is SSG Capital Advisors, LLC. About Coyne International Enterprises Corp. Headquartered in Syracuse, Coyne was founded in 1929 by J. Stanley Coyne and grew into one of the largest privately owned industrial laundry companies in the United States. Coyne currently operates nine plants and 15 service centers in 23 states. Coyne provides comprehensive uniform sales/rental and laundry services to more than 10,000 customers in a wide variety of industries. Products offered by Coyne include workplace uniforms, career apparel, protective garments, shop towels, floor mats, treated dust mops and wet mops. Coyne also provides linens, mats, towels and restroom hygiene products. Coyne International Enterprises Corp. filed a Chapter 11 bankruptcy petition (Bankr. N.D.N.Y. Case No. 15-31160) on July 31, 2015. The petition was signed by Mark Samson as CEO. The Debtor estimated assets of $10 million to $50 million and liabilities of at least $50 million. Herrick Feinstein LLP serves as the Debtor's general counsel. Phillips Lytle LLP acts as the Debtor's local bankruptcy counsel. Cohnreznick LLP is the Debtor's financial advisor. SSG Capital Advisors LLC is the Debtor's investment banker. Rust Omni serves the Debtor as claims and administrative agent. Raab, Sturm & Ganchrow, LLP acts as labor counsel to the Debtor. Harbridge Consulting Group, LLC serves as the Debtor's pension consultant. Beveridge & Diamond PC is the Debtor's environmental counsel. GZA Geoenvironmental, Inc., represents the Debtor as environmental consultant. DEERFIELD RANCH: Asks Court to Extend Plan Filing Date to Oct. 30 ----------------------------------------------------------------- Deerfield Ranch Winery, LLC, asks the U.S. Bankruptcy Court for the Northern District of California, Santa Rosa Division, to extend its exclusive period to file a plan of reorganization through and including October 30, 2015, and its exclusive period to confirm that plan through and including December 31, 2015. The Debtor tells the Court that allowing this brief period of extended exclusivity, without the possible distraction of competing plans, will move the case forward by leading to a confirmed plan. Shane J. Moses, Esq., at McNutt Law Group LLP, in San Francisco, California, filed a declaration in support of the extension motion and asserted that although it is the Debtor's intent to file the plan by the end of September, the Debtor is requesting an extension of the exclusivity to file through the end of October in order to avoid having to raise this issue with the Court again if the process does bleed over into October. The Debtor is represented by: Shane J. Moses, Esq. Thomas B. Rupp, Esq. MCNUTT LAW GROUP LLP 219 9TH STREET San Francisco, California 94103 Tel: (415) 995-8475 Fax: (415) 995-8487 Email: smoses@ml-sf.com Trupp@ml-sf.com About Deerfield Ranch Winery Sonoma Valley-based Deerfield Ranch Winery, LLC was founded in 1982 by Robert and PJ Rex. Deerfield Ranch Winery filed a Chapter 11 bankruptcy petition (Bank. N.D. Cal. Case No. 15-10150) on Feb. 13, 2015. The Debtor disclosed $25,197,611 in assets and $12,041,939 in liabilities as of the Chapter 11 filing. Scott H. McNutt, Esq., and Shane J. Moses, Esq., at McNutt Law Group LLP serve as the Debtor's counsel. Jigsaw Advisors LLC acts as the Debtor's restructuring financial advisor. Judge Alan Jaroslovsky is assigned to the case. Dana Burwell, as appraiser, will assist in valuing its real property known as 10176 Sonoma Highway, Kenwood, California. Rabobank N.A, is the Debtor's primary secured lender. The U.S. Trustee for Region 17 appointed three creditors to serve on the official committee of unsecured creditors. Pachulski Stang Ziehl & Jones LLP serves as Committee counsel. DEERFIELD RANCH: Can Use Cash Collateral Until Oct. 31 ------------------------------------------------------ The U.S. Bankruptcy Court for the Northern District of California, Santa Rosa Division, approved the third and fourth stipulations among Deerfield Ranch Winery, LLC, Rabobank, N.A, and the Official Committee of Unsecured Creditors, authorizing the Debtor to use cash collateral until October 31, 2015. The parties agreed that the Debtor will limit its use of Cash Collateral to the use the current budget of approximately $1,046,616, except that Debtor may have a total negative variance at the end of any week of the Current Budget in the line item "Cumul Net Cash Excess/(Shortage)" not to exceed the greater of 10% and $10,000. As adequate protection for the use by Debtor of Cash Collateral, Rabobank is granted a replacement lien in all new Cash Collateral and in all personal property of Debtor's estate of the same types as those in which Rabobank held a security interest as of the Petition Date, including accounts receivable, inventory, farm products, general intangibles, books and records, and equipment, which replacement lien will be of the same validity, extent, and priority as Rabobank's prepetition security interests. The Debtor is represented by: Shane J. Moses, Esq. Thomas B. Rupp, Esq. MCNUTT LAW GROUP LLP 219 9TH STREET San Francisco, California 94103 Tel: (415) 995-8475 Fax: (415) 995-8487 Email: smoses@ml-sf.com Trupp@ml-sf.com Rabobank, N.A., is represented by: Richard A. Rogan, Esq. Nicolas De Lancie, Esq. JEFFER MANGELS BUTLER & MITCHELL LLP Two Embarcadero Center, Fifth Floor San Francisco, California 94111-3813 Tel: (415) 398-8080 Fax: (415) 398-5584 Email: rar@jmbm.com nde@jmbm.com About Deerfield Ranch Winery Sonoma Valley-based Deerfield Ranch Winery, LLC was founded in 1982 by Robert and PJ Rex. Deerfield Ranch Winery filed a Chapter 11 bankruptcy petition (Bank. N.D. Cal. Case No. 15-10150) on Feb. 13, 2015. The Debtor disclosed $25,197,611 in assets and $12,041,939 in liabilities as of the Chapter 11 filing. Scott H. McNutt, Esq., and Shane J. Moses, Esq., at McNutt Law Group LLP serve as the Debtor's counsel. Jigsaw Advisors LLC acts as the Debtor's restructuring financial advisor. Judge Alan Jaroslovsky is assigned to the case. Dana Burwell, as appraiser, will assist in valuing its real property known as 10176 Sonoma Highway, Kenwood, California. Rabobank N.A, is the Debtor's primary secured lender. The U.S. Trustee for Region 17 appointed three creditors to serve on the official committee of unsecured creditors. Pachulski Stang Ziehl & Jones LLP serves as Committee counsel. DIVERSE ENERGY: Voluntary Chapter 11 Case Summary ------------------------------------------------- Debtor affiliates filing separate Chapter 11 bankruptcy petitions: Debtor Case No. ------ -------- Diverse Energy Systems, LLC 15-34736 A Texas limited liability company 1301 McKinney, Suite 3300 Houston, TX 77010 Scribner Industries, Inc. 15-34737 1301 McKinney, Suite 3300 Houston, TX 77010 Diverse Energy Systems, LLC 15-34738 A North Dakota limited liability company dba Lean Technologies, LLC Rouly, Inc. 15-34739 Type of Business: Provides products and field operations services to oil and natural gas markets in the United States and internationally. Chapter 11 Petition Date: September 7, 2015 Court: United States Bankruptcy Court Southern District of Texas (Houston) Judge: Hon. Letitia Z. Paul (15-34736) Hon. David R Jones (15-34737) Debtors' Counsel: J Robert Forshey, Esq. FORSHEY PROSTOK LLP 777 Main Street, Suite 1290 Fort Worth, TX 76102 Tel: 817-877-8855 Email: bforshey@forsheyprostok.com Debtors' SSG Advisors, LLC Financial and Restructuring Advisors: Estimated Estimated Assets Liabilities ----------- ----------- Diverse Energy Systems $10MM-$50MM $0-$50,000 Scribner Industries, Inc. $0-$50,000 $0-$50,000 The petitions were signed by Todd A. Hass, chief financial officer. The Debtors stated that they do not have any unsecured creditor. ENERGY TRANSFER: Bank Debt Trades at 4% Off -------------------------------------------- Participations in a syndicated loan under which Energy Transfer Equity LP is a borrower traded in the secondary market at 96.42 cents-on-the-dollar during the week ended Friday, September 4, 2015, according to data compiled by LSTA/Thomson Reuters MTM Pricing and reported in the September 8, 2015, edition of The Wall Street Journal. This represents an increase of 0.60 percentage points from the previous week, The Journal relates. Energy Transfer Equity LP pays 250 basis points above LIBOR to borrow under the facility. The bank loan matures on November 15, 2019. Moody's rates the loan 'Ba2' and Standard & Poor's gave a 'BB' rating to the loan. The loan is one of the biggest gainers and losers among 229 widely quoted syndicated loans with five or more bids in secondary trading for the week ended Friday, September 4. ERG INTERMEDIATE: Withdraws Bid to Sell Assets ---------------------------------------------- ERG Intermediate Holdings, LLC, et al., notified the U.S. Bankruptcy Court for the Northern District of Texas that they withdrew their motion seeking authority to sell their assets in accordance with their prior notice of cancellation of the sale process and commencement of process for plan of reorganization. As reported in the Troubled Company Reporter on Aug. 13, 2015, the Debtors disclosed that the Debtors have canceled the proposed 363 Sale Process and instead will file a Plan. The Debtors did not receive an acceptable bid as required under the Bidding and Sale Procedures previously approved by the Bankruptcy Court. Instead, the Debtors' prepetition lender and Debtor-in-Possession Financing Lender provided a proposal whereby the Lenders will support a Plan of Reorganization and provide significant exit financing to maintain and potentially expand the Debtors' California operations and assets. Kelly Plato, the sole manager of the Companies, said "We believe that a Plan of Reorganization which provides for significant new capital in the form of exit financing and which is supported by our current Lenders provides the best opportunity to maximize the value of the Companies. We also appreciate the continuing support of our vendors and employees as we work to put our plan in place." Also, on Aug. 7, 2015, the Companies' Unsecured Creditors' Committee filed a motion seeking approval for the compromise of controversies in accordance with a Settlement and Transaction Support Agreement executed between the Lenders and the Committee. Among other terms, the settlement provides for the waiver of certain liens by the Lenders and the establishment of a Liquidation Trust, which will be initially funded by the Lenders and which will receive a transfer of the Companies' assets excluding those related to the Companies' California operations. About ERG Resources ERG Resources, LLC, is a privately owned oil & gas producer that was formed in 1996. Since 2010, ERG Resources and ERG Operating Co. have been primarily engaged in the exploration and production of crude oil and natural gas in the Cat Canyon Field in Santa Barbara County, California. ERG Resources owns 19,027 gross lease acreage in the Cat Canyon Field. ERG Resources also owns and operates oil & gas leases representing 683 gross acres of leasehold located in Liberty County, Texas. The Company's corporate headquarters is located in Houston, Texas. Scott Y. Wood, through two of his affiliates, owns 100% of the membership units in ERG Intermediate Holdings LLC, the parent company. ERG Intermediate Holdings, ERG Resources and three affiliates sought Chapter 11 bankruptcy protection (Bankr. N.D. Tex. Case No. 15-31858) on April 30, 2015, in Dallas, Texas. The Debtors tapped Jones Day as counsel; DLA Piper as co-counsel; AP Services, LLC, to provide a CRO; and Epiq Bankruptcy Solutions, LLC. ERG Intermediate estimated $100 million to $500 million in assets and debt. The U.S. Trustee overseeing the Chapter 11 case of ERG Intermediate Holdings LLC appointed five creditors of the company to serve on the official committee of unsecured creditors. F-SQUARED INVESTMENT: Court Approves Richards Layton as Counsel --------------------------------------------------------------- F-Squared Investment Management, LLC and its debtor-affiliates sought and obtained permission from the Hon. Laurie Selber Silverstein of the U.S. Bankruptcy Court for the District of Delaware to employ Richards, Layton & Finger, P.A. as bankruptcy counsel, nunc pro tunc to July 8, 2015. The Debtors require Richards Layton to: (a) take all necessary actions to protect and preserve the estates of the Debtors, including the prosecution of actions on the Debtors' behalf, the defense of any actions commenced against the Debtors, the negotiation of disputes in which the Debtors are involved, and the preparation of objections to claims filed against the Debtors' estates; (b) advise the Debtors of their rights, powers, and duties as debtors and debtors in possession under Chapter 11 of the Bankruptcy Code; (c) prepare on behalf of the Debtors, as debtors in possession, all necessary motions, applications, answers, orders, reports, and other papers in connection with the administration of the Debtors' estates and serve such papers on creditors; (d) take all necessary or appropriate actions in connection with a plan or plans of reorganization and related disclosure statements and all related documents, and such further actions as may be required in connection with the administration of the Debtors' estates; and (e) perform all other necessary legal services in connection with the prosecution of these Chapter 11 Cases. Richards Layton will be paid at these hourly rates: Russell C. Silberglied $725 Michael J. Merchant $650 Zachary I. Shapiro $490 Amanda R. Steele $425 Joseph C. Barsalona II $260 Rachel L. Biblo $260 Ann Jerominski $235 Partners $585-$825 Counsel $525 Associates $260-$490 Paraprofessionals $235 Richards Layton will also be reimbursed for reasonable out-of-pocket expenses incurred. Prior to the Petition Date, the Debtors paid Richards Layton an aggregate total of $485,000 in retainer payments (the "Total Retainer") in connection with and in contemplation of these Chapter 11 Cases. Russell C. Silberglied, director of Richards Layton, assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtors and their estates. Richards Layton can be reached at: Joseph C. Barsalona II, Esq. RICHARDS, LAYTON & FINGER, P.A. 920 N. King Street Wilmington, DE 19801 Tel: (302) 651-7700 Fax: 302-651-7701 E-mail: barsalona@rlf.com About F-Squared Investment Headquartered in Wellesley, MA, F-Squared Investments, Inc. -- http://www.f-squaredinvestments.com-- is a privately owned investment manager. The firm primarily provides its services to other investment advisers. It also caters to individuals, high net worth individuals, and pension and profit sharing plans. The firm provides index management services. It manages separate client-focused equity, fixed income, and multi-asset portfolios. The firm invests in the public equity, fixed income, and alternative investment markets across the globe. It makes all its investments through exchange-traded funds. The firm invests in small-cap stocks of companies across diversified sectors. F-Squared Investment Management, LLC and eight of its affiliates filed Chapter 11 bankruptcy petitions (Bankr. D. Del. Lead Case No. 15-11469) on July 8, 2015. The petition was signed by Laura Dagan as president and chief executive officer. The cases are assigned to Laurie Selber Silverstein. Richards, Layton & Finger, P.A. serves as the Debtors' counsel. Gennari Aronson, LLP represents the Debtors as special corporate counsel. Grail Advisory Partners LLC (d/b/a PL Advisors) and Managed Account Services, LLC act as the Debtors' financial advisors and investment bankers. Stillwater Advisory Group LLC is the Debtors' crisis managers and restructuring advisors. BMC Group, Inc. acts as the Debtors' claims and noticing agent. F-SQUARED INVESTMENT: Court Okays Hiring of PL Advisors as Banker ----------------------------------------------------------------- F-Squared Investment Management, LLC and its debtor-affiliates sought and obtained permission from the Hon. Laurie Selber Silverstein of the U.S. Bankruptcy Court for the District of Delaware to employ Grail Advisory Partners LLC dba PL Advisors as financial advisor and investment banker, nunc pro tunc to the July 8, 2015 petition date. The Debtors require PL Advisors to: (a) review the Debtors' financial plans, strategic plans and business alternatives; (b) advise the Debtors with regard to the financial structure and terms of a Transaction that might reasonably be expected to be realized in the current market environment; (c) identify potential purchasers for a Transaction and assisting the Debtors in the solicitation of the potential purchasers; (d) assist the Debtors in the preparation of an offering memorandum or other materials concerning the Debtors for distribution and presentation to potential purchasers; (e) when appropriate, arrange and participate in site visits by potential purchasers and assisting the Debtors in facilitating due diligence efforts of any potential purchasers; (f) advise the Debtors in their evaluation of proposals received from potential purchasers; (g) if applicable, review and analyze the historical and projected financial information of the potential purchasers provided by such potential purchasers; (h) assist the Debtors in structuring and negotiating the financial aspects of a Transaction; and (i) perform certain other appropriate and customary financial advisory services in connection with a Transaction. The Debtors propose to compensate PL Advisors according to this Fee Structure: -- Monthly Retainer – The Debtors will pay PL Advisors $40,000 per month until the earlier of (i) the termination of the Engagement Letter, or (ii) the consummation of a Transaction (the "Monthly Fee"). -- Reimbursement – The Debtors will reimburse PL Advisors for all reasonable out-of-pocket expenses. -- Change of Control Transaction Fee – In the event a Change of Control Transaction is consummated, the Debtors will pay PL Advisors a Change of Control Transaction Fee equal to: - 4% up to the first $5 million of the Transaction Value; - 3% on the next $5 million of the Transaction Value; and - 2% of the Transaction Value thereafter. -- Monthly Fees are not credited against and do not otherwise reduce any Change of Control Transaction Fee that is payable to PL Advisors. -- The Change of Control Transaction Fee shall be payable in full in cash upon the closing of a Transaction; provided; however, that any portion of the Change of Control Transaction Fee payable to PL Advisors on account of an Earn-out shall be paid to PL Advisors at the later of (i) the closing of such Transaction and (ii) when the portion(s) of any such Earn-out is actually received by the Debtors. Colette R. Taylor, partner of PL Advisors, assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtors and their estates. PL Advisors can be reached at: Colette R. Taylor GRAIL ADVISORY PARTNERS LLC dba PL ADVISORS 757 Third Avenue, 17th Floor New York, NY 10017 Tel: (212) 596-3462 About F-Squared Investment Headquartered in Wellesley, MA, F-Squared Investments, Inc. -- http://www.f-squaredinvestments.com-- is a privately owned investment manager. The firm primarily provides its services to other investment advisers. It also caters to individuals, high net worth individuals, and pension and profit sharing plans. The firm provides index management services. It manages separate client-focused equity, fixed income, and multi-asset portfolios. The firm invests in the public equity, fixed income, and alternative investment markets across the globe. It makes all its investments through exchange-traded funds. The firm invests in small-cap stocks of companies across diversified sectors. F-Squared Investment Management, LLC and eight of its affiliates filed Chapter 11 bankruptcy petitions (Bankr. D. Del. Lead Case No. 15-11469) on July 8, 2015. The petition was signed by Laura Dagan as president and chief executive officer. The cases are assigned to Laurie Selber Silverstein. Richards, Layton & Finger, P.A. serves as the Debtors' counsel. Gennari Aronson, LLP represents the Debtors as special corporate counsel. Grail Advisory Partners LLC (d/b/a PL Advisors) and Managed Account Services, LLC act as the Debtors' financial advisors and investment bankers. Stillwater Advisory Group LLC is the Debtors' crisis managers and restructuring advisors. BMC Group, Inc. acts as the Debtors' claims and noticing agent. F-SQUARED INVESTMENT: Panel Hires Rosner Group as Counsel --------------------------------------------------------- The Official Committee of Unsecured Creditors of F-Squared Investment Management, LLC and its debtor-affiliates asks for authorization from the Hon. Laurie Selber Silverstein of the U.S. Bankruptcy Court for the District of Delaware to retain The Rosner Law Group LLC as Delaware counsel to the Committee, nunc pro tunc to the July 15, 2015. The Committee requires Rosner Law to: (a) provide legal advice regarding local rules, practices, and procedures and provide substantive and strategic advice on how to accomplish the Committee's goals in connection with the prosecution of these cases, bearing in mind that the Court relies on Delaware counsel such as RLG to be involved in all aspects of these bankruptcy cases; (b) review, comment upon and/or prepare drafts of documents to be filed with the Court as Delaware counsel to the Committee; (c) appear in Court and at any meeting with the U.S. Trustee and any meeting of creditors at any given time on behalf of the Committee as its Delaware counsel; (d) perform various services in connection with the administration of these cases including, without limitation, (i) preparing certificates of no objection, certifications of counsel, notices of fee applications and hearings, and hearing binders of documents and pleadings, (ii) monitoring the docket for filings and coordinating with Brown Rudnick on pending matters that need responses, (iii) preparing and maintaining critical dates memoranda to monitor pending applications, motions, hearing dates and other matters and the deadlines associated with the same, and (iv) handling inquiries and calls from creditors and counsel to interested parties regarding pending matters and the general status of these cases and coordinating with Brown Rudnick on any necessary responses; and (e) perform all other services assigned by the Committee, in consultation with Brown Rudnick, to Rosner Law as Delaware counsel to the Committee. Rosner Law will be paid at these hourly rates: Frederick B. Rosner $325 Scott Leonhardt $275 Julia Klein $275 Frederick Sassler, paralegal $150 Law Clerk $200 Rosner Law will also be reimbursed for reasonable out-of-pocket expenses incurred. Frederick B. Rosner, sole member of Rosner Law, assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtors and their estates. Rosner Law can be reached at: Frederick B. Rosner, Esq. THE ROSNER LAW GROUP LLC 824 Market Street, Suite 810 Wilmington, DE 19801 Tel: (302) 777-1111 E-mail: rosner@teamrosner.com About F-Squared Investment Headquartered in Wellesley, MA, F-Squared Investments, Inc. -- http://www.f-squaredinvestments.com-- is a privately owned investment manager. The firm primarily provides its services to other investment advisers. It also caters to individuals, high net worth individuals, and pension and profit sharing plans. The firm provides index management services. It manages separate client-focused equity, fixed income, and multi-asset portfolios. The firm invests in the public equity, fixed income, and alternative investment markets across the globe. It makes all its investments through exchange-traded funds. The firm invests in small-cap stocks of companies across diversified sectors. F-Squared Investment Management, LLC and eight of its affiliates filed Chapter 11 bankruptcy petitions (Bankr. D. Del. Lead Case No. 15-11469) on July 8, 2015. The petition was signed by Laura Dagan as president and chief executive officer. The cases are assigned to Laurie Selber Silverstein. Richards, Layton & Finger, P.A. serves as the Debtors' counsel. Gennari Aronson, LLP represents the Debtors as special corporate counsel. Grail Advisory Partners LLC (d/b/a PL Advisors) and Managed Account Services, LLC act as the Debtors' financial advisors and investment bankers. Stillwater Advisory Group LLC is the Debtors' crisis managers and restructuring advisors. BMC Group, Inc. acts as the Debtors' claims and noticing agent. F-SQUARED INVESTMENT: Panel Taps Brown Rudnick as Co-counsel ------------------------------------------------------------ The Official Committee of Unsecured Creditors of F-Squared Investment Management, LLC and its debtor-affiliates asks for authorization from the Hon. Laurie Selber Silverstein of the U.S. Bankruptcy Court for the District of Delaware to retain Brown Rudnick LLP as co-counsel to the Committee, nunc pro tunc to the July 15, 2015. The Committee requires Brown Rudnick to: (a) assist and advise the Committee in its discussions with the Debtors and other parties in interest regarding the overall administration of these cases; (b) represent the Committee at hearings to be held before this Court and communicating with the Committee regarding the matters heard and the issues raised as well as the decisions and considerations of this Court; (c) assist and advise the Committee in its examination and analysis of the conduct of the Debtors' affairs; (d) review and analyze pleadings, orders, schedules, and other documents filed and to be filed with this Court by interested parties in these cases; advise the Committee as to the necessity, propriety, and impact of the foregoing upon these cases; and consenting or objecting to pleadings or orders on behalf of the Committee, as appropriate; (e) assist the Committee in preparing such applications, motions, memoranda, proposed orders, and other pleadings as may be required in support of positions taken by the Committee, including all trial preparation as may be necessary; (f) confer with the professionals retained by the Debtors and other parties in interest, as well as with such other professionals as may be selected and employed by the Committee; (g) coordinate the receipt and dissemination of information prepared by and received from the Debtors' professionals, as well as such information as may be received from professionals engaged by the Committee or other parties-in-interest in these cases; (h) participate in such examinations of the Debtors and other witnesses as may be necessary in order to analyze and determine, among other things, the Debtors' assets and financial condition, whether the Debtors have made any avoidable transfers of property, or whether causes of action exist on behalf of the Debtors' estates; (i) negotiate and formulate a plan of reorganization for the Debtors; and (j) assist the Committee generally in performing such other services as may be desirable or required for the discharge of the Committee's duties pursuant to section 1103 of the Bankruptcy Code. Brown Rudnick will be paid at these hourly rates: William R. Baldiga $1,130 Sunni P. Beville $820 R. Benjamin Chapman $635 Attorneys $415-$1240 Paraprofessional $285-$345 Brown Rudnick proposed to render services for the Committee on a "blended rate" hourly fee basis, such that the blended rate for all attorney hours for the lawyers of both Brown Rudnick and The Rosner Law Group LLc, co-counsel to the Committee, will be in the range of $500 per hour on an aggregate basis. Brown Rudnick will also be reimbursed for reasonable out-of-pocket expenses incurred. William R. Baldiga, member of Brown Rudnick, assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtors and their estates. Brown Rudnick can be reached at: William R. Baldiga, Esq. BROWN RUDNICK LLP Seven Times Square New York, NY 10036 Tel: (212) 209-4800 Fax: (212) 209-4801 E-mail: wbaldiga@brownrudnick.com About F-Squared Investment Headquartered in Wellesley, MA, F-Squared Investments, Inc. -- http://www.f-squaredinvestments.com-- is a privately owned investment manager. The firm primarily provides its services to other investment advisers. It also caters to individuals, high net worth individuals, and pension and profit sharing plans. The firm provides index management services. It manages separate client-focused equity, fixed income, and multi-asset portfolios. The firm invests in the public equity, fixed income, and alternative investment markets across the globe. It makes all its investments through exchange-traded funds. The firm invests in small-cap stocks of companies across diversified sectors. F-Squared Investment Management, LLC and eight of its affiliates filed Chapter 11 bankruptcy petitions (Bankr. D. Del. Lead Case No. 15-11469) on July 8, 2015. The petition was signed by Laura Dagan as president and chief executive officer. The cases are assigned to Laurie Selber Silverstein. Richards, Layton & Finger, P.A. serves as the Debtors' counsel. Gennari Aronson, LLP represents the Debtors as special corporate counsel. Grail Advisory Partners LLC (d/b/a PL Advisors) and Managed Account Services, LLC act as the Debtors' financial advisors and investment bankers. Stillwater Advisory Group LLC is the Debtors' crisis managers and restructuring advisors. BMC Group, Inc. acts as the Debtors' claims and noticing agent. FEDERATION EMPLOYMENT: Sale of 2 Apartment Units Approved --------------------------------------------------------- Judge Robert E. Grossman of the United States Bankruptcy Court for the Eastern District of New York approved the sale of Federation Employment & Guidance Service, Inc.'s interest in cooperative apartments located at 125 W. 96th St., Units 1F AND 4J, in New York. The Debtor entered into an asset purchase agreement with Harriet Gozali and Zachary Gozali for the purchase of Unit 1F free and clear of all existing liens, claims and encumbrances for $311,000, with a deposit of $2,000 payable upon execution of the 1F Sale Agreement. The $2,000 deposit is being held in an escrow account and will be applied at the closing. The balance for Unit 1F of $309,000 is outstanding. The Debtors also entered into an asset purchase agreement with Kevin Henry Guarino for the purchase of Unit 4J free and clear of all existing liens, claims and encumbrances for $350,000, with a deposit of $35,000 payable upon execution of the Sale Agreement. The $35,000 deposit is being held in an escrow account and will be applied at the closing. The balance for Unit 4J of $315,000 is outstanding. Federation Employment and Guidance Service, Inc., is represented by: Frank A. Oswald, Esq. Brian Moore, Esq. TOGUT, SEGAL & SEGAL LLP One Penn Plaza, Suite 3335 New York, New York 10119 Tel: (212) 594-5000 Fax: (212) 967-4258 Email: frankoswald@teamtogut.com About FEGS Established in 1934 amidst the Great Depression, Federation Employment & Guidance Service, Inc. ("FEGS") is a not-for-profit provider of various health and social services to more than 120,000 individuals annually in the areas of behavioral health, disabilities, housing, home care, employment/workforce, education, youth and family services. At its peak, FEGs' network of programs operated over 350 locations throughout metropolitan New York and Long Island and employed 2,217 highly skilled professionals. FEGS sought Chapter 11 bankruptcy protection (Bankr. E.D.N.Y. Case No. 15-71074) in Central Islip, New York on March 18, 2015. The Chapter 11 plan and disclosure statement are due by July 16, 2015. The Debtor filed applications to hire Garfunkel, Wild, P.C., as general bankruptcy counsel; Togut, Segal & Segal, LLP, as co-counsel; JL Consulting LLC as Restructuring Advisor, as restructuring advisor; Crowe Horwath, LLP as accountants; and Rust Consulting/Omni Bankruptcy as claims and noticing agent. The Debtor disclosed $86,697,814 in assets and $45,572,524 in liabilities as of the Chapter 11 filing. The U.S. Trustee for Region 2 appointed three members to the Official Committee of Unsecured Creditors. The Committee tapped Pachulski Stang Ziehl & Jones LLP as its counsel. FLINTKOTE COMPANY: Seeks Dec. 31 Extension of Exclusive Periods --------------------------------------------------------------- The Flintkote Company and Flintkote Mines Limited ask the United States Bankruptcy Court for the District of Delaware for an extension of their exclusive plan filing period until the earlier of the effective date of their plan and October 31, 2015; and their exclusive solicitation period until the earlier of the effective date and December 31, 2015. The Debtors asserted that they seek extension of the exclusive periods out of an abundance of caution and in order to preserve exclusivity while they take the necessary steps to consummate the plan, including seeking certain approvals from the Canadian government of the merger of the Debtors contemplated by the Plan. The Plan Proponents fully intend to consummate the Plan and are optimistic that the Plan will go effective within the next 60 days. At this stage in the Debtors' cases, terminating exclusivity will not result in a "better" plan, but may instead distract the Plan Proponents from their efforts to consummate the Plan, the Debtors asserted. Therefore, the Debtors believe it is appropriate and beneficial for their estates to preserve exclusivity during this final window until the Plan has gone effective. In addition, the Debtors seek extension of the exclusive periods as they need to consider the complexity of the case and extensive good faith progress toward reorganization, they are paying debts as they come due, the progress in negotiating their creditors, and the length of time the case has been pending. The bankruptcy court set the hearing of the present motion on September 21, 2015 at 11:30 a.m. The objection deadline will be on September 14. The Flintkote Company and Flintkote Mines Limited are represented by: Kevin T. Lantry, Esq. Jeffrey E. Bjork, Esq. John P. White, Esq. SIDLEY AUSTIN LLP 555 West Fifth Street, Suite 4000 Los Angeles, CA 90013 Tel: (213) 896-6000 Fax: (213) 896-6600 Email: klantry@sidley.com jbjork@sidley.com john.white@sidley.com -- and -- Laura Davis Jones, Esq. James E. O'Neill, Esq. PACHULSKI, STANG, ZIEHL & JONES LLP 919 North Market Street, 17th Floor, P.O. Box 8705 Wilmington, DE 19899-8705 (Courier 19801) Tel: (302) 652-4100 Fax: (302) 652-4400 Email:ljones@pszjlaw.com joneill@pszjlaw.com About The Flintkote Company Headquartered in San Francisco, California, The Flintkote Company is engaged in the business of manufacturing, processing and distributing building materials. Flintkote Mines Limited is a subsidiary of Flintkote Company and is engaged in the mining of base-precious metals. The Flintkote Company filed for Chapter 11 protection (Bankr. D. Del. Case No. 04-11300) on April 30, 2004. Flintkote Mines Limited filed for Chapter 11 relief (Bankr. D. Del. Case No. 04-12440) on Aug. 25, 2004. Kevin T. Lantry, Esq., Jeffrey E. Bjork, Esq., Dennis M. Twomey, Esq., Jeremy E. Rosenthal, Esq., and Christina M. Craige, Esq., at Sidley Austin, LLP, in Los Angeles; James E. O'Neill, Esq., and Laura Davis Jones, Esq., at Pachulski Stang Ziehl & Jones LLP, in Wilmington, Del., represent the Debtors in their restructuring efforts. Elihu Inselbuch, Esq., at Caplin & Drysdale, Chartered, in New York, N.Y.; Peter Van N. Lockwood, Esq., Ronald E. Reinsel, Esq., at Caplin & Drysdale, Chartered, in Washington, D.C.; and Philip E. Milch, Esq., at Campbell & Levine, LLC, in Wilmington, Del., represent the Asbestos Claimants Committee as counsel. James J. McMonagle, is the legal representative for future claimants. The FCR has retained Dr. Timothy Wyant as claims evaluation consultant. The FCR is represented by James L. Patton, Jr., Esq., and Edwin J. Harron, Esq., at Young Conaway Stargatt & Taylor, LLP; and Reginald W. Jackson, Esq., at Vorys, Sater, Seymour & Pease LLP. When Flintkote filed for protection from its creditors, it estimated more than $100 million each in assets and debts. When Flintkote Mines Limited filed for protection from its creditors, it estimated assets of $1 million to $50 million, and debts of more than $100 million. The Debtors' Chapter 11 cases have been re-assigned to Judge Mary F. Walrath in line with the retirement of former Bankruptcy Judge Judith Fitzgerald. FORTESCUE METALS: Bank Debt Trades at 19% Off --------------------------------------------- Participations in a syndicated loan under which Fortescue Metals Group Ltd is a borrower traded in the secondary market at 80.83 cents-on-the-dollar during the week ended Friday, September 4, 2015, according to data compiled by LSTA/Thomson Reuters MTM Pricing and reported in the September 8, 2015, edition of The Wall Street Journal. This represents an increase of 1.36 percentage points from the previous week, The Journal relates. Fortescue Metals Group Ltd pays 275 basis points above LIBOR to borrow under the facility. The bank loan matures on June 13, 2019. Moody's rates the loan 'Ba1' and Standard & Poor's gave a 'BB+' rating to the loan. The loan is one of the biggest gainers and losers among 229 widely quoted syndicated loans with five or more bids in secondary trading for the week ended Friday, September 4. FREDERICK'S OF HOLLYWOOD: Has Until Dec. 15 to File Plan -------------------------------------------------------- Judge Kevin Gross of the U.S. Bankruptcy Court for the District of Delaware extended Old FOH, Inc., f/k/a Frederick's of Hollywood, Inc., et al.'s filing exclusivity period through and including Dec. 15, 2015, and their soliciting exclusivity period through and including Feb. 15, 2016. According to Joseph C. Barsalona II, Esq., at Richards, Layton & Finger, PA, in Wilmington, Delaware, the Debtors sought to complete their goal through a consensual Chapter 11 liquidating plan that will distribute the proceeds of the Sale in an orderly and efficient manner, and liquidate the Debtors' remaining assets. Mr. Barsalona related that since the Petition Date, which was under four months ago, the Debtors have made significant progress in their Chapter 11 cases by, among other things, (i) selling substantially all of their e-commerce assets to Authentic Brands Group, LLC, (ii) winding up their going-concern operations by closing all of the Debtors' brick-and-mortar stores and rejecting all related leases, and (iii) seeking to reach agreement on the principal terms of a Chapter 11 liquidating plan with the Official Committee of Unsecured Creditors and Front Street (Re), Ltd., the sole remaining secured creditor in the bankruptcy cases. About Frederick's Frederick's of Hollywood Group Inc., sells women's apparel and related products under its proprietary Frederick's of Hollywood brand. Frederick's had more than 200 brick-and-mortar stores at its peak. At present it sells its products at its online shop at http://www.fredericks.com/ On April 19, 2015, Frederick's of Hollywood and five affiliates each filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code. The cases are pending approval to be jointly administered under Case No. 15-10836 before the Honorable Kevin Gross (Bankr. D. Del.). The Company disclosed $36.5 million in assets and $106 million in debt as of the bankruptcy filing. The material debt obligations principally consist of $33 million in loans under a secured credit agreement, $16.2 million in unsecured promissory notes, and $56.7 million in trade debt and liabilities to landlords. The Debtors tapped Milbank, Tweed, Hadley & McCloy LLP, as bankruptcy counsel; Richards, Layton & Finger, P.A., as local counsel; Consensus Advisory Services LLC as investment banker and financial advisor; and Kurtzman Carson Consultants LLC, as claims and noticing agent. FREDERICK'S OF HOLLYWOOD: Unsecureds to Get 2.9% Under Plan ----------------------------------------------------------- Old FOH, Inc., f/k/a Frederick's of Hollywood, Inc., et al., filed with the U.S. Bankruptcy Court for the District of Delaware a Combined Disclosure Statement and Chapter 11 Plan of Liquidation, co-proposed Front Street Re (Cayman) Ltd. and the Official Committee of Unsecured Creditors. The Debtors consummated a sale of substantially all of their assets on June 11, 2015. With the Sale now closed, the Debtors seek to wind up these chapter 11 cases through a consensual plan confirmation process facilitated by the Combined Disclosure Statement and Plan, and the global settlement. The Plan provides for the following classification and treatment of claims: Est. Allowed Class Claims Treatment Est. Recovery ----- ------------ --------- ------------- Class 1 – Prepetition Lenders Secured Claims $19,126,530 Impaired Unknown Class 2 - Other Secured Claims $95,000 Unimpaired 100% Class 3 - Priority Non-Tax Claims $94,000 Unimpaired 100% Class 4 – General Unsecured Claims $25,500,000 Impaired 0.6% to 2.9% Class 5 – Equity Interests in FOHG N/A Impaired 0% Class 6 – Equity Interests in Debtors Other than FOHG N/A Unimpaired Reinstated The Debtors propose the following solicitation timeline: Record Date Sept. 25, 2015 Date Solicitation Will Commence Sept. 29, 2015 Deadline to File Rule 3018 Motions Oct. 16, 2015 Deadline to Object to Rule 3018 Motions Oct. 23, 2015 Voting Deadline Oct. 26, 2015 Deadline to Object to Plan/Disclosure Oct. 27, 2015 Disclosure/Confirmation Hearing Nov. 3, 2015 A full-text copy of the Plan, dated Sept. 4, 2015, is available at http://bankrupt.com/misc/FOHplan0904.pdf The Debtors are represented by Russell C. Silberglied, Esq., Zachary I. Shapiro, Esq., and Joseph C. Barsalona II, Esq., at Richards, Layton & Finger, P.A., in Wilmington, Delaware; and Tyson M. Lomazow, Esq., and Matthew Brod, Esq., at Milbank, Tweed, Hadley & McCloy LLP, in New York. Robert K. Malone, Esq., and Howard A. Cohen, Esq., at Drinker Biddle & Reath LLP, in Florham Park, New Jersey, represent Front Street. Cathy R. Hershcopf, Esq., Seth Van Aalten, Esq., and Robert Winning, Esq., at Cooley LLP, in New York, represent the Committee. About Frederick's Frederick's of Hollywood Group Inc., sells women's apparel and related products under its proprietary Frederick's of Hollywood brand. Frederick's had more than 200 brick-and-mortar stores at its peak. At present it sells its products at its online shop at http://www.fredericks.com/ On April 19, 2015, Frederick's of Hollywood and five affiliates each filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code. The cases are pending approval to be jointly administered under Case No. 15-10836 before the Honorable Kevin Gross (Bankr. D. Del.). The Company disclosed $36.5 million in assets and $106 million in debt as of the bankruptcy filing. The material debt obligations principally consist of $33 million in loans under a secured credit agreement, $16.2 million in unsecured promissory notes, and $56.7 million in trade debt and liabilities to landlords. The Debtors tapped Milbank, Tweed, Hadley & McCloy LLP, as bankruptcy counsel; Richards, Layton & Finger, P.A., as local counsel; Consensus Advisory Services LLC as investment banker and financial advisor; and Kurtzman Carson Consultants LLC, as claims and noticing agent. GEORGETOWN MOBILE: Dismissal Hearing Continued Until Sept. 22 ------------------------------------------------------------- The U.S. Bankruptcy Court for the Eastern District of Kentucky will convene a hearing on Sept. 22, 2015, at 9:30 a.m., to consider a motion by a noteholder to dismiss the Chapter 11 case of Georgetown Mobile Estates, LLC. The Court was informed that parties agreed to continue the Aug. 26, hearing on the motion to dismiss. As reported in the Troubled Company Reporter on July 21, 2015, U.S. Bank National Association, as trustee, in Trust for the holders of COMM 2013-CCRE8 Mortgage Trust Commercial Mortgage Pass-Through Certificates, asked the Court dismiss the Debtor's case as the bankruptcy filing was not authorized. According to Brian R. Pollock, Esq., at Stites & Harbison, PLLC, in Louisville, Kentucky, the bankruptcy case that was filed without the unanimous consent of its members, Georgetown East and Star Lite, required by the Georgetown Mobile Estates, LLC's operating agreement. Furthermore, the instant bankruptcy filing is not in the interests of creditors and only increases costs without increasing their likelihood of repayment, Mr. Pollock added. About Georgetown Mobile Estates Georgetown Mobile Estates, LLC, is a Kentucky corporation with headquarters in Georgetown, Scott County, Kentucky. Originally incorporated on Jan. 23, 2006, the Company operates a mobile home park in three areas on the county line of Scott and Fayette, Kentucky. The park can take up to 504 customers and, historically, had an occupancy rate of 92%. Georgetown Mobile Estates filed a Chapter 11 bankruptcy petition (Bankr. E.D. Ky. Case No. 15-50945) in Lexington, Kentucky, on May 11, 2015, to take back control of the mobile home park from a receiver. Daniel E. Sexton, the present owner, signed the petition. The bankruptcy case is assigned to Judge Tracey N. Wise. The Debtor disclosed total assets of $16,014,000 and $19,457,609 in liabilities as of the Chapter 11 filing. The Debtor tapped Bunch & Brock of Lexington, Kentucky, as counsel; Randy Reynolds of Magnum Capital Consultants, LLC, as financial advisor; Bradford Burgess of The Thayer Group as financial advisor; and Glen Dellavalle of Dellavalle Management Group as manager of business operations. The U.S. trustee overseeing the Chapter 11 case of Georgetown Mobile Estates LLC appointed three creditors of the company to serve on the official committee of unsecured creditors. GULF PACKAGING: Has Until Oct. 30 to Decide on Calif. Lease ----------------------------------------------------------- Gulf Packaging, Inc., sought and obtained from the U.S. Bankruptcy Court for the Northern District of Illinois Eastern Division, an extension of the time by which it must decide whether to assume or reject leases of nonresidential real property through and including October 30, 2015. The Debtor told the Court that it is aware of only one lease of non-residential real property, a lease for property located in La Mirada, California. Although the Debtor is currently winding down its active operations, the Debtor is still using this leased premises the property in connection with its efforts to draft a Chapter 11 plan of liquidation and related disclosure statement . The Debtor is represented by: Joseph D. Frank, Esq. Jeremy Kleinman, Esq. FRANKGECKER LLP 325 North LaSalle Street, Suite 625 Chicago, Illinois 60654 Tel: (312) 276-1400 Fax: (312) 276-0035 Email: jfrank@fgllp.com jkleinman@fgllp.com -- and -- Jason S. Brookner, P.C. , Esq. Micheal W. Bishop, P.C. , Esq. GRAY REED & MCGRAW, P.C. 1601 Elm Street, Suite 4600 Dallas, Texas 75201 Tel: (214) 954-4135 Fax: (214) 953-1332 Email: jbrookner@grayreed.com mbishop@grayreed.com About Gulf Packaging Formed as a Texas corporation in February 2012, Gulf Packaging Inc. is a distributor of packaging equipment and supplies, which sells its product by and through several independent entities. GPI is a private company, with its equity held in equal parts by the Fleck Family Partnership, LLC and CWJ Eagle, LLC (which is affiliated with the Cutshall family). Gulf Packaging sought Chapter 11 protection (Bankr. N.D. Ill. Case No. 15-15249) on April 29, 2015. The Debtor disclosed $16,392,403 in assets and $29,764,425 in liabilities as of the Chapter 11 filing. The case is assigned to Judge Pamela S. Hollis. The Debtor tapped FrankGecker LLP as counsel; BMC Group Inc. as claims and noticing agent; and the firm of Gavin/Solmonese to provide Edward T. Gavin as chief restructuring officer. The U.S. Trustee appointed nine creditors to serve on an official committee of unsecured creditors. GULF PACKAGING: Has Until Oct. 30 to File Plan ---------------------------------------------- Gulf Packaging, Inc., sought and obtained from Judge Pamela S. Hollis of the U.S. Bankruptcy Court for the Northern District of Illinois, Eastern Division, extension of its exclusive period to file a plan of reorganization through and including October 30, 2015, and its exclusive period to obtain acceptances of that plan through and including January 29, 2016. The Debtor told the Court it merely requires additional time to complete its proposed plan, and to avoid the confusion, distraction and expense that would arise if a completing plan were filed. The Official Committee of Unsecured Creditors objected to the extension request, asserting that the Debtor and FCC, LLC, have indicated to the Committee that they intend to file a plan of reorganization which would treat FCC's claim as fully secured, even though no party in this case could truly make the assertion with a straight face that the collateral was worth anywhere near what they said it was worth at the onset of the case. The estate should not have to suffer through a futile process of allowing the Debtor the right to exclusively file a plan, which will never be confirmed, when there is only a limited amount of time or life left in this case, the Committee argued. The Debtor is represented by: Joseph D. Frank, Esq. Jeremy Kleinman, Esq. FRANKGECKER LLP 325 North LaSalle Street, Suite 625 Chicago, Illinois 60654 Tel: (312) 276-1400 Fax: (312) 276-0035 Email: jfrank@fgllp.com jkleinman@fgllp.com -- and -- Jason S. Brookner, P.C. , Esq. Micheal W. Bishop, P.C. , Esq. GRAY REED & MCGRAW, P.C. 1601 Elm Street, Suite 4600 Dallas, Texas 75201 Tel: (214) 954-4135 Fax: (214) 953-1332 Email: jbrookner@grayreed.com mbishop@grayreed.com The Official Committee of Unsecured Creditors is represented by: Richard S. Lauter, Esq. Shelly A. DeRousse, Esq. Devon J. Eggert, Esq. Elizabeth L. Janczak, Esq. FREEBORN & PETERS LLP 311 South Wacker Drive, Suite 3000 Chicago, Illinois 60606-6677 Tel: (312) 360-6000 Fax: (312) 360-6520 Email: rlauter@freeborn.com sderousse@freeborn.com deggert@freeborn.com ejanczak@freeborn.com About Gulf Packaging Formed as a Texas corporation in February 2012, Gulf Packaging Inc. is a distributor of packaging equipment and supplies, which sells its product by and through several independent entities. GPI is a private company, with its equity held in equal parts by the Fleck Family Partnership, LLC and CWJ Eagle, LLC (which is affiliated with the Cutshall family). Gulf Packaging sought Chapter 11 protection (Bankr. N.D. Ill. Case No. 15-15249) on April 29, 2015. The Debtor disclosed $16,392,403 in assets and $29,764,425 in liabilities as of the Chapter 11 filing. The case is assigned to Judge Pamela S. Hollis. The Debtor tapped FrankGecker LLP as counsel; BMC Group Inc. as claims and noticing agent; and the firm of Gavin/Solmonese to provide Edward T. Gavin as chief restructuring officer. The U.S. Trustee appointed nine creditors to serve on an official committee of unsecured creditors. HAMPTON TRANSPORTATION: Case Summary & 20 Top Unsecured Creditors ----------------------------------------------------------------- Debtor: Hampton Transportation Ventures, Inc. d/b/a Hampton Luxury Liner 1600 Locust Avenue Bohemia, NY 11716 Case No.: 15-73837 Chapter 11 Petition Date: September 8, 2015 Court: United States Bankruptcy Court Eastern District of New York (Central Islip) Judge: Hon. Alan S Trust Debtor's Counsel: Michael G McAuliffe, Esq. 68 South Service Road, Suite 100 Melville, NY 11747 Tel: 631 465-0044 Email: mgmlaw@optonline.net Total Assets: $6.5 million Total Liabilities: $5.1 million The petition was signed by William Schoolman, CEO. A list of the Debtor's 20 largest unsecured creditors is available for free at http://bankrupt.com/misc/nyeb15-73837.pdf HAMPTON TRANSPORTATION: Files for Chapter 11 Bankruptcy ------------------------------------------------------- Hampton Transportation Ventures, Inc., operator of the Hampton Luxury Liner, which offers first class motor coach charter service, sought protection under Chapter 11 of the Bankruptcy Code on Sept. 8, 2015, due to financial difficulties precipitated by Hurricane Sandy. According to documents filed with the U.S. Bankruptcy Court for the Eastern District of New York, the company lost in excess of $1.5 million in damages and lost revenues. As a result, the company was forced to default on its equipment loans. The Debtor's assets consists of a fleet of passenger motor coaches, intercompany receivables from affiliated corporates and the Debtor's bank accounts. Its liabilities consist of: (i) secured debt in the aggregate sum of $4,534,354, and (ii) general unsecured debt in the aggregate sum of $289,094. Jacqueline Palank, writing for The Wall Street Journal, reported that Hampton Luxury Liner offers $45 one-way trips between New York City and its beloved summer getaway spot, the Hamptons, as well as Long Island winery tours. It touts such modern amenities as free Wi-Fi, a library, reclining leather seats, personal power outlets, free snacks and water and flat-screen televisions showing movies, the report related. HEALTH DIAGNOSTIC: Kutak Rock Submits Verified Statement -------------------------------------------------------- Peter J. Barrett of Kutak Rock LLP submitted a verified statement pursuant to Rule 2019 of the Federal Rules of Bankruptcy Procedure in the bankruptcy cases of Health Diagnostic Laboratory, Inc., et al., to disclose that the firm represents these creditors: a. Cigna Health and Life Insurance Company c/o Jeffrey Testa, Esq. McCarter & English LLP 100 Mulberry Street Four Gateway Center Newark, New Jersey 07102 b. Connecticut General Life Insurance Company c/o Jeffrey Testa, Esq. McCarter & English LLP 100 Mulberry Street Four Gateway Center Newark, New Jersey 07102 c. Atlantic Corrugated Box Company, Incorporated c/o Edward Barlow, CEO 1701 Ruffin Road Richmond, VA 23234 The firm can be reached at: KUTAK ROCK LLP Michael A. Condyles, Esq. Peter J. Barrett, Esq. Jeremy S. Williams, Esq. 1111 East Main Street, Suite 800 Richmond, VA 23219-3500 Telephone: (804) 644-1700 E-mail: michael.condyles@kutakrock.com peter.barrett@kutakrock.com jeremy.williams@kutakrock.com About Health Diagnostic Health Diagnostic Laboratory, Inc., Central Medical Laboratory, LLC, and Integrated Health Leaders, LLC, are health care businesses based in Richmond, Virginia. HDL is a blood testing company. Health Diagnostic Laboratory, Inc. (Bankr. E.D. Va. Case No. 15-32919) and affiliates Central Medical Laboratory, LLC (Bankr. E.D. Va. Case No. 15-32920) and Integrated Health Leaders, LLC (Bankr. E.D. Va. Case No. 15-32921) filed separate Chapter 11 bankruptcy petitions on June 7, 2015, estimating their assets at between $100 million and $500 million and their debts at between $100 million and $500 million. The petitions were signed by Martin McGahan, chief restructuring officer. Justin F. Paget, Esq., Tyler P. Brown, Esq., Jason W. Harbour, Esq., and Henry P. (Toby) Long, III, Esq. At Hunton & Williams LLP serve as the Debtors' bankruptcy counsel. Alvarez & Marsal is the Debtors' financial advisor. Robert S. Westermann, Esq., at Hirshler Fleisher, P.C., serve as the Debtors' conflicts counsel. American Legal Claims Services, LLC, is the Debtors' claims, noticing and balloting agent. * * * Health Diagnostic Laboratory Inc. will hold a Sept. 10 auction to sell the Virginia lab's operations. In a court order signed on July 15, Judge Kevin Huennekens set a Sept. 4 bid deadline for potential buyers. HERCULES OFFSHORE: Can Assume Exit Financing Commitment Letter -------------------------------------------------------------- U.S. Bankruptcy Judge Kevin Carey has authorized Hercules Offshore, Inc., to assume Exit Financing Commitment Letter. The Debtors are also authorized to pay the Put Option Premium, the Commitment Expenses and the Agent Fees. The Debtors previously entered into a Restructuring Support Agreement, dated as of June 17, 2015. The parties agree to backstop a first lien senior secured term loan facility in an aggregate principal amount of $450,000,000. A copy of the Order and Subscription Procedures are available at: http://is.gd/F9loBF About Hercules Offshore Headquartered in Houston, Hercules Offshore, Inc. -- http://www.herculesoffshore.com/-- operates a fleet of 27 jackup rigs, including one rig under construction, and 21 liftboats. The Company offers a range of services to oil and gas producers to meet their needs during drilling, well service, platform inspection, maintenance, and decommissioning operations in several key shallow water provinces around the world. On Aug. 13, 2015 Hercules Offshore and 14 affiliated debtors each filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 15-11685) in the U.S. Bankruptcy Court for the District of Delaware. The cases are pending before the Honorable Kevin J. Carey. The Debtors tapped Baker Botts LLP as counsel; Morris, Nichols, Arsht & Tunnell, as local counsel; Andrews Kurth LLP, as general corporate counsel; Lazard Freres & Co. LLC, as investment banker, Alvarez & Marsal, as restructuring advisor; and Prime Clerk, LLC, as claims and noticing agent. The Steering Group of Holders of Senior Notes is represented by Akin Gump Strauss Hauer & Feld LLP's Arik Preis, Esq., and Michael S. Stamer, Esq. HERO disclosed $546 million in assets and $1.306 billion in debt as of Aug. 11, 2015. * * * The Debtors on the Petition Date filed a pre-packaged Chapter 11 plan that would convert $1.2 billion of outstanding senior notes to 96.9% of new common equity. HILLVIEW, KY: Failed Mediation Leads to Chapter 9 Filing -------------------------------------------------------- Bill Rochelle, a bankruptcy columnist for Bloomberg News, reported that former U.S. Bankruptcy Judge Steven Rhodes, who ushered Detroit through municipal bankruptcy in record time, couldn't perform similar magic for the City of Hillview, Kentucky. According to Mr. Rochelle, when the Kentucky Supreme Court upheld a $15 million judgment against the city in favor of Truck America LLC in a dispute over the sale of property, Judge Rhodes was called in to mediate in April. Despite a full day of talks, the city said the two sides were "very far apart," and Hillview filed for Chapter 9 protection to stop Truck America, a driver-training school, from seizing the city's bank accounts. The City of Hillview, Kentucky, sought protection under Chapter 9 of the Bankruptcy Code on Aug. 20, 2015 (Bankr. W.D. Ky., Case No. 15-32679). The Debtor's counsel is Laura Day DelCotto, Esq., at Delcotto Law Group PLLC, in Lexington, Kentucky. HYPNOTIC TAXI: Amends Schedules of Assets and Liabilities --------------------------------------------------------- Hypnotic Taxi LLC filed with the U.S. Bankruptcy Court for the Eastern District of New York its amended schedules of assets and liabilities, disclosing: Name of Schedule Assets Liabilities ---------------- ------------ ----------- A. Real Property B. Personal Property $1,941,314 C. Property Claimed as Exempt D. Creditors Holding Secured Claims $2,798,857 E. Creditors Holding Unsecured Priority Claims F. Creditors Holding Unsecured Non-priority Claims $26,544 ----------- ------------ TOTAL $1,941,314 $2,825,401 A full-text copy of the Debtor's schedules is available for free at http://is.gd/vZhYTL About Hypnotic Taxi Hypnotic Taxi LLC and 21 of its affiliates filed Chapter 11 bankruptcy petitions (Bankr. E.D.N.Y. Lead Case No. 15-43300) on July 22, 2015. The petition was signed by Evgeny Freidman as sole and managing member. Klestadt Winters Jureller Southard & Stevens LLP serves as the Debtors' counsel. Judge Carla E. Craig presides over the case. The Debtors each own either two or three medallions issued by the New York City Taxi and Limousine Commission that permit taxi services to be performed by the Debtors. The U.S. Trustee for Region 2 appointed three creditors of Hypnotic Taxi LLC to serve on the official committee of unsecured creditors. HYPNOTIC TAXI: Fox Rothschild Represents Trade Creditors, Lender ---------------------------------------------------------------- Pursuant to Federal Rule of Bankruptcy Procedure 2019, the law firm of Fox Rothschild LLP provided notice of its representation of several creditors in the Chapter 11 cases of Hypnotic Taxi LLC: a. Evgeny (Gene) Freidman b. Downtown Taxi Management LLC c. Woodside Management, Inc. d. Tunnel Taxi Management, LLC e. 28th Street Management, Inc. f. Philadelphia Taxi Management LLC Fox Rothschild represents Evgeny (Gene) Freidman with respect to his interests in the Debtors. Fox Rothschild represents Downtown Taxi Management, Woodside Management, Tunnel Taxi Management, and 28th Street Management with respect to their interests pursuant to their lease of Debtors' medallions and any other issues arising in these cases, as well as other matters unrelated to the Chapter 11 cases. Fox Rothschild represents Philadelphia Taxi Management LLC with respect to its interests as a proposed DIP lender, as well as other matters unrelated to the cases The firm can be reached at: FOX ROTHSCHILD LLP Hal L. Baume, Esq. 100 Park Avenue, 15th Floor New York, NY 10017 Tel: (212) 972-3000 Fax: (212) 896-1469 E-mail: hbaume@foxrothschild.com About Hypnotic Taxi Hypnotic Taxi LLC and 21 of its affiliates filed Chapter 11 bankruptcy petitions (Bankr. E.D.N.Y. Lead Case No. 15-43300) on July 22, 2015. The petition was signed by Evgeny Freidman as sole and managing member. Klestadt Winters Jureller Southard & Stevens LLP serves as the Debtors' counsel. Judge Carla E. Craig presides over the case. The Debtors each own either two or three medallions issued by the New York City Taxi and Limousine Commission that permit them to provide taxi services. KARMALOOP INC: Says Lack of Funding Warrants Ch. 7 Conversion ------------------------------------------------------------- Sherri Toub, a bankruptcy columnist for Bloomberg News, reported that Karmaloop Inc., which sold the online retail business to a senior lending group led by Comvest Capital LLC, in June, said a prompt conversion to liquidation in Chapter 7 is warranted because there's no funding to continue in Chapter 11. According to the report, despite a global settlement resolving potential claims of the official creditors' committee, the company said it couldn't achieve agreement on a means to wind down the bankruptcy case through a Chapter 11 plan. Substantial priority tax claims and significant administrative claims created "insurmountable hurdles" to reaching agreement on funding a plan, the report said, citing the company. About Karmaloop Inc. Karmaloop, Inc., founded in 1999 by Gregory Selkoe, is a cross-platform digital commerce and media property company that specializes in the sale of global streetwear fashion and culture. Karmaloop specializes in the sale of over 400 brands of apparel, shoes and accessories via an e-commerce business model, primarily using the Web site http://wwww.karmaloop.com/The company has nearly 5 million monthly unique visitors, 2.2 million Facebook followers and 800,000 Twitter followers. On March 23, 2015, Karmaloop, Inc. and KarmaloopTV, Inc. filed voluntary Chapter 11 bankruptcy petitions in the United States Bankruptcy Court for the District of Delaware (Lead Case No. 15-10635. The cases are assigned to Judge Kevin J. Carey. The Debtors tapped Burns & Levinson LLP and Womble Carlyle Sandridge & Rice, LLP as attorneys; CRS Capstone Partners LLC as financial advisor and Capstone's Brian L. Davies, Jr., as restructuring officer; and Omni Management Group, LLC as claims and noticing agent. The U.S. Trustee for Region 3 appointed five creditors of Karmaloop Inc. to serve on the official committee of unsecured creditors. Lowenstein Sadler LP serves as its counsel, and Emerald Capital Advisors serves as its financial advisors. Karmaloop Inc., sold its online retail business to a senior lending group led by Comvest Capital LLC, in June. After the closing of the sale, Karmaloop changed its name to KL Wind-Down Inc. LAKE LAS VEGAS: Credit Suisse Ordered to Pay $287.5MM to Highland ----------------------------------------------------------------- Joseph Checkler, writing for The Wall Street Journal, reported that Judge Dale B. Tillery of U.S. District Court in Dallas County, Texas, on Sept. 4 said Credit Suisse must pay a unit of Highland Capital Management $287.5 million over a soured real-estate loan, a win for James Dondero's hedge-fund firm in its multi-pronged fight against the Swiss bank over luxury developments. According to the report, Judge Tillery said Credit Suisse must pay $211.9 million in damages and restitution and $75.6 million in prejudgment damages and interest for breach of contract on a loan tied to the Lake Las Vegas planned community, which went into bankruptcy in 2008. About Lake Las Vegas Headquartered in Henderson, Nevada, Lake at Las Vegas Joint Venture, LLC and 14 of its debtor-affiliates -- http://www.lakelasvegas.com/-- are owners and developers of 3,592-acre residential and resort destination Lake Las Vegas Resort in Las Vegas, Nevada. Centered around a 320-acre man-made lake, Lake Las Vegas contains more than 9,000 residential units, and also includes two luxury resort hotels (a Loews and a Ritz- Carlton), a casino, a specialty retail village shopping area, marinas, three signature golf courses and related clubhouses, and other real property. The Debtors filed separate petitions for Chapter 11 relief (Bankr. D. Nev. Lead Case No. 08-17814) on July 17, 2008. When Lake at Las Vegas Joint Venture, LLC, filed for protection from its creditors, it estimated assets of $100 million to $500 million, and debts of $500 million to $1.0 billion. Courtney E. Pozmantier, Esq., Martin R. Barash, Esq., at Klee, Tuchin, Bogdanoff & Stern LLP, Jason D. Smith, Esq., at Santoro, Driggs, Walch, Kearney, Holley & Thompson, Jeanette E. McPherson, Esq., Lenard E. Schwartzer, Esq., at Schwartzer & McPherson Law Firm, represent the Debtors as counsel. Kaaran E. Thomas, Esq., Ryan J. Works, Esq., at McDonald Carano Wilson LLP, represent the Official Committee of Unsecured Creditors as counsel. LUCA INTERNATIONAL: US Trustee Forms 5-Member Equity Committee -------------------------------------------------------------- Judy A. Robbins, U.S. Trustee for the Southern District of Texas, appointed five members to the Committee of Equity Security Holders to the Chapter 11 bankruptcy cases of Luca International Group LLC and its debtor-affiliates. The members of the Equity Committee are: 1) Shiaoting Jing or Bill Lu 12304 Santa Monica Blvd., Suite 120 Los Angeles, CA 90025 Tel. 310-926-5709 / 310-989-8856 Fax 310-826-7178 Email: shaoting47@yahoo.com blujst888@yahoo.com 2) Jie Shen 3114 Avalon Ct. Palo Alto, CA 94306 Tel. 650-248-8455 Email: jennyshen@yahoo.com 3) Myra Lee P.O. Box 1651 Fremont, CA 94538 Tel. 510-314-3115 Email: myra.lee@gmail.com 4) June S. Lee 2360 Harvard St. Palo Alto, CA 94306 Tel. 650-213-6767 Email: june.leee123@gmail.com 5) Vlad Novotny 16105 Cerro Vista Drive Los Gatos, CA 95032 Tel. 650-450-0286 Email: vladnovotny@yahoo.com About Luca International Luca International Group LLC and Luca Operation, LLC, and their affiliates are engaged in the exploration and production of natural gas, petroleum and related hydrocarbons. The primary assets are located in Iberville and Ascension Parishes in Louisiana. These assets include 3 operating oil and gas wells -- Belle Grove 1, Dugas & Leblanc 1 and Jumonville 2. In addition, the assets include a water disposal well, Acosta 1, and a shut-in-oil and gas well, Jumonville 1. The Luca entities also own oil and gas leases in Texas and working interests in various locations. The Luca entities are owned by Bingqing Yang. Luca International Group and 11 related entities sought Chapter 11 protection (Bankr. S.D. Tex. Lead Case No. 15-34221) in Houston, Texas, on Aug. 6, 2015. The cases are assigned to Judge David R. Jones. The Debtors tapped Hoover Slovacek, LLP, as counsel, and BMC Group, Inc., as claims agent. Luca International estimated $50 million to $100 million in assets and debt. The petitions were signed by Loretta R. Cross, the CRO. MF GLOBAL: Giddens Starts Final 95% Distribution to Unsec Creditors ------------------------------------------------------------------- James W. Giddens, Trustee for the liquidation of MF Global Inc. (MFGI), on Sept. 8 initiated the final, cumulative 95 percent distribution on all non-affiliate, non-subordinated, allowed general unsecured creditor claims, by mail and other distribution methods. The final distribution on non-affiliate, non-subordinated, allowed general unsecured creditor claims totals approximately $40.9 million, which brings the total amount distributed to MFGI creditors to approximately $1.04 billion. "I am very pleased to initiate the final distribution of the MF Global Inc. liquidation proceeding [Tues]day," Mr. Giddens said. "When this distribution is complete, unsecured creditors will have received a near full recovery, while customers and secured creditors are already completely satisfied." After the final unsecured creditor distribution is complete, the Trustee will have distributed over $8.1 billion to MFGI customers and creditors, including approximately: * Customer claimants - $6.9 billion to cover 100 percent of allowed claims * Secured, administrative and priority general claimants - $35 million to cover 100 percent of allowed claims * Non-Affiliate unsecured general claimants - $219 million to cover 95 percent of allowed claims * Affiliate unsecured general claimants - $905 million on their allowed non-subordinated unsecured claims These remarkable and unexpected results were achieved with the supervision and assistance of the Bankruptcy Court, the Securities Investor Protection Corporation, the Commodity Futures Trading Commission, several committees of the Senate and House of Representatives, regulators and other parties. The results achieved do not diminish the importance of the actual segregations failure that led to MFGI's collapse. Claims against former officers, directors and other employees of MF Global, including former MF Global CEO Jon Corzine, are ongoing in the Multidistrict Litigation. The Trustee is represented by Hughes Hubbard & Reed LLP. About MF Global New York-based MF Global -- http://www.mfglobal.com/-- was one of the world's leading brokers of commodities and listed derivatives. MF Global provides access to more than 70 exchanges around the world. The firm also was one of 22 primary dealers authorized to trade U.S. government securities with the Federal Reserve Bank of New York. MF Global's roots go back nearly 230 years to a sugar brokerage on the banks of the Thames River in London. On Oct. 31, 2011, MF Global Holdings Ltd. and MF Global Finance USA Inc. filed voluntary Chapter 11 petitions (Bankr. S.D.N.Y. Case Nos. 11-15059 and 11-5058), after a planned sale to Interactive Brokers Group collapsed. As of Sept. 30, 2011, MF Global had $41,046,594,000 in total assets and $39,683,915,000 in total liabilities. On Nov. 7, 2011, the United States Trustee appointed the statutory creditors' committee in the Debtors' cases. At the behest of the Statutory Creditor's Committee, the Court directed the U.S. Trustee to appoint a chapter 11 trustee. On Nov. 28, 2011, the Bankruptcy Court entered an order approving the appointment of Louis J. Freeh, Esq., of Freeh Group International Solutions, LLC, as Chapter 11 trustee. On Dec. 19, 2011, MF Global Capital LLC, MF Global Market Services LLC and MF Global FX Clear LLC filed voluntary Chapter 11 petitions (Bankr. S.D.N.Y. Case Nos. 11-15808, 11-15809 and 11-15810). On Dec. 27, the Court entered an order installing Mr. Freeh as Chapter 11 Trustee of the New Debtors. On March 2, 2012, MF Global Holdings USA Inc. filed a voluntary Chapter 11 petition (Bankr. S.D.N.Y. Case No. 12-10863), and Mr. Freeh also was installed as its Chapter 11 Trustee. Judge Honorable Martin Glenn presides over the Chapter 11 case. J. Gregory Milmoe, Esq., Kenneth S. Ziman, Esq., and J. Eric Ivester, Esq., at Skadden, Arps, Slate, Meagher & Flom LLP, serve as bankruptcy counsel. The Garden City Group, Inc., serves as claims and noticing agent. The petition was signed by Bradley I. Abelow, Executive Vice President and Chief Executive Officer of MF Global Finance USA Inc. The Chapter 11 Trustee has tapped (i) Freeh Sporkin & Sullivan LLP, as investigative counsel; (ii) FTI Consulting Inc., as restructuring advisors; (iii) Morrison & Foerster LLP, as bankruptcy counsel; and (iv) Pepper Hamilton as special counsel. The Official Committee of Unsecured Creditors has retained Capstone Advisory Group LLC as financial advisor, while lawyers at Proskauer Rose LLP serve as counsel. The Securities Investor Protection Corporation commenced liquidation proceedings against MF Global Inc. to protect customers. James W. Giddens was appointed as trustee pursuant to the Securities Investor Protection Act. He is a partner at Hughes Hubbard & Reed LLP in New York. Jon Corzine, the former New Jersey governor and co-CEO of Goldman Sachs Group Inc., stepped down as chairman and chief executive officer of MF Global just days after the bankruptcy filing. In April 2013, the Bankruptcy Court approved MF Global Holdings' plan to liquidate its assets. Bloomberg News reported that the court-approved disclosure statement initially told creditors with $1.134 billion in unsecured claims against the parent holding company why they could expect a recovery of 13.4% to 39.1% from the plan. As a consequence of a settlement with JPMorgan, supplemental materials informed unsecured creditors their recovery was reduced to the range of 11.4% to 34.4%. Bank lenders will have the same recovery on their $1.174 billion claim against the holding company. As a consequence of the settlement, the predicted recovery became 18% to 41.5% for holders of $1.19 billion in unsecured claims against the finance subsidiary, one of the companies under the umbrella of the holding company trustee. Previously, the predicted recovery was 14.7% to 34% on bank lenders' claims against the finance subsidiary. MIDWAY GOLD US: Files Schedules and Statements ---------------------------------------------- Midway Gold US Inc. filed with the U.S. Bankruptcy Court for the District of Colorado its schedules of assets and liabilities, and statements of financial affairs, disclosing: Name of Schedule Assets Liabilities ---------------- ------------ ----------- A. Real Property B. Personal Property $2,461,673 C. Property Claimed as Exempt D. Creditors Holding Secured Claims $55,350,000 E. Creditors Holding Unsecured Priority Claims $14,771 F. Creditors Holding Unsecured Non-priority Claims $67,083,409 ----------- ------------ TOTAL $2,461,673 $122,448,181 A full-text copy of the Debtor's schedules and statements is available for free at http://is.gd/OHWhlK About Midway Gold Midway Gold Corp., incorporated on May 14, 1996 under the laws of the Province of British Columbia, Canada, is engaged in the acquisition, exploration and development of mineral properties located in the state of Nevada and Washington. Midway Gold operates primarily through its wholly-owned subsidiary located in the United States, Midway Gold US Inc. The executive offices are in Englewood, Colorado. Midway US currently has one gold producing property: the Pan gold mine located in White Pine County, Nevada. Midway also has gold properties which are exploratory stage projects where gold mineralization has been identified, such as the Tonopah project in Nye County, Nevada, the Gold Rock project in White Pine County, Nevada, and the Golden Eagle project in Ferry County, Washington. Out of these projects, a permitting process has been undertaken only for the Gold Rock project. Finally, Midway's Spring Valley property, another gold property located in Pershing County, Nevada, is subject to a joint venture with Barrick Gold Exploration Inc. On June 22, 2015, Midway Gold US Inc. and 12 related entities, including parent Midway Gold Corp. each filed a petition in the U.S. Bankruptcy Court for the District of Colorado seeking relief under Chapter 11 of the U.S. Bankruptcy Code. The Debtors' cases have been assigned to Judge Michael E. Romero. The Debtors sought to have their cases jointly administered for procedural purposes, with all pleadings will be maintained on the case docket for Midway Gold US Inc.; Case No. 15-16835. The Debtors tapped Squire Patton Boggs (US) LLP as bankruptcy counsel; Sender Wasserman Wadsworth, P.C., as special bankruptcy and restructuring counsel; DLA Piper (Canada) LLP, as Canadian bankruptcy counsel; Ernst & Young Inc., as information officer of Canadian court; RBC Capital Markets, as investment banker; FTI Consulting as financial advisor; and Epiq Solutions, as claims and noticing agent. In July, the U.S. trustee overseeing the Debtors' cases appointed seven creditors to serve on the official committee of unsecured creditors. The creditors are American Assay Laboratories, EPC Services Company, InFaith Community Foundation, Jacobs Engineering Group Inc., SRK Consulting (US) Inc., Sunbelt Rentals, and Boart Longyear. Midway Gold disclosed $184 million in assets and $62.4 million in liabilities as of March 31, 2015. MOLYCORP INC: Said to Draw Interest From Buyers for Non-US Assets ----------------------------------------------------------------- Jodi Xu Klein and Steven Church, writing for Bloomberg News, reported that rare-earths producers from China and Japan have approached about buying some of Molycorp Inc.'s non-U.S. assets, which include plants in various parts of Asia, according to two people with knowledge of the matter. The report noted that selling the international assets would further reduce Molycorp's rare-earths market share, but selling these assets won't be the miner's priority as it focuses on restructuring its business, said one of the people. About Molycorp Molycorp Inc. -- http://www.molycorp.com/-- is a global rare earths and rare metals producer. Molycorp owns several prominent rare earth processing facilities around the world. It has a workforce of 2,530 employees at locations on three continents. Molycorp's Mountain Pass Rare Earth Facility in San Bernadino County, California, is home to one of the world's largest and richest deposits of rare earths. Molycorp has corporate offices in the United States, Canada and China. CEO Geoffrey R. Bedford, and other senior management members are located in Molycorp's corporate offices in Toronto, Canada. Other senior manageemnt members are located at its U.S. corporate headquarters in Greendwood Village, Colorado. Molycorp reported a net loss of $623 million in 2014, a net loss of $377 million in 2013 and a net loss of $475 million in 2012. As of March 31, 2015, the Company had $2.49 billion in total assets, $1.78 billion in total liabilities and $709 million in total stockholders' equity. Molycorp and its North American subsidiaries, together with certain of its non-operating subsidiaries outside of North America, filed Chapter 11 voluntary petitions in Delaware (Bankr. D. Del. Lead Case No. 15-11357) on June 25, 2015, after reaching agreement with a group of lenders on a financial restructuring. The Chapter 11 cases of Molycorp and 20 affiliated debts are pending before Judge Christopher S. Sontchi. The agreement provides for a financial restructuring of the Company's $1.7 billion in debt and provides up to $225 million in gross proceeds in new financing to support operations while the Company completes negotiations with creditors. The Company's operations outside of North America, with the exception of non-operating companies in Luxembourg and Barbados, are excluded from the filings. Molycorp Rare Metals (Oklahoma), LLC, with operations in Quapaw, Oklahoma, also is excluded from the filings as it is not 100% owned by the Company. Molycorp is being advised by the investment banking firm of Miller Buckfire & Co. and is receiving financial advice from AlixPartners, LLP. Jones Day and Young, Conaway, Stargatt & Taylor LLP act as legal counsel to the Company in this process. Prime Clerk serves as claims and noticing agent. Secured creditor Oaktree Capital Management L.P., consented to the use of cash collateral and to extend postpetition financing. On July 8, 2015, the U.S. trustee overseeing the Chapter 11 case of Molycorp Inc. appointed eight creditors of the company to serve on the official committee of unsecured creditors. MOLYCORP INC: Seeks Bonuses for Senior Execs, Key Employees ----------------------------------------------------------- Sherri Toub, a bankruptcy columnist at Bloomberg News, reported that Molycorp Inc., not sure whether it will restructure or be forced to sell some or all of its business units, wants to pay performance incentives to its seven most senior executives and retention bonuses to 19 workers needed to mothball its Mountain Pass rare-earth facility. According to the report, for the top executives of the global rare earths and rare metals producer, bonuses would be tied to achieving financial, operational and restructuring-related metrics. The program's total cost is estimated to be about $1.8 million at the threshold level, $2.3 million at the target level, and $2.9 million at the maximum level, Molycorp said, the report related. Bloomberg, in a report written by Christopher Donville, related that Molycorp said it would suspend operations at its flagship California mine and processing facility no later than Oct. 20. The company said "rare-earth pricing, which has declined dramatically over the past four years, was a key factor in the decision to suspend rare earth production at Mountain Pass," the report further related. The company, however, said it will continue to serve its rare earth oxide customers through its production facilities in Estonia and China, the report added. To assist Molycorp with implementing the plan for limited operations at Mountain Pass in California, the 19 critical workers would receive awards of 25 percent of their base salaries, the report said. Including a $75,000 discretionary pool, the total cost of the non-insider retention program is expected to be about $619,000, the report related, citing court papers. About Molycorp Molycorp Inc. -- http://www.molycorp.com/-- is a global rare earths and rare metals producer. Molycorp owns several prominent rare earth processing facilities around the world. It has a workforce of 2,530 employees at locations on three continents. Molycorp's Mountain Pass Rare Earth Facility in San Bernadino County, California, is home to one of the world's largest and richest deposits of rare earths. Molycorp has corporate offices in the United States, Canada and China. CEO Geoffrey R. Bedford, and other senior management members are located in Molycorp's corporate offices in Toronto, Canada. Other senior manageemnt members are located at its U.S. corporate headquarters in Greendwood Village, Colorado. Molycorp reported a net loss of $623 million in 2014, a net loss of $377 million in 2013 and a net loss of $475 million in 2012. As of March 31, 2015, the Company had $2.49 billion in total assets, $1.78 billion in total liabilities and $709 million in total stockholders' equity. Molycorp and its North American subsidiaries, together with certain of its non-operating subsidiaries outside of North America, filed Chapter 11 voluntary petitions in Delaware (Bankr. D. Del. Lead Case No. 15-11357) on June 25, 2015, after reaching agreement with a group of lenders on a financial restructuring. The Chapter 11 cases of Molycorp and 20 affiliated debts are pending before Judge Christopher S. Sontchi. The agreement provides for a financial restructuring of the Company's $1.7 billion in debt and provides up to $225 million in gross proceeds in new financing to support operations while the Company completes negotiations with creditors. The Company's operations outside of North America, with the exception of non-operating companies in Luxembourg and Barbados, are excluded from the filings. Molycorp Rare Metals (Oklahoma), LLC, with operations in Quapaw, Oklahoma, also is excluded from the filings as it is not 100% owned by the Company. Molycorp is being advised by the investment banking firm of Miller Buckfire & Co. and is receiving financial advice from AlixPartners, LLP. Jones Day and Young, Conaway, Stargatt & Taylor LLP act as legal counsel to the Company in this process. Prime Clerk serves as claims and noticing agent. Secured creditor Oaktree Capital Management L.P., consented to the use of cash collateral and to extend postpetition financing. On July 8, 2015, the U.S. trustee overseeing the Chapter 11 case of Molycorp Inc. appointed eight creditors of the company to serve on the official committee of unsecured creditors. NRAD MEDICAL: SilvermanAcampora Files Rule 2016(b) Statement ------------------------------------------------------------ SilvermanAcampora LLP submitted to the Bankruptcy Court a statement pursuant to Rule 2016(b) of the Federal Rules of Bankruptcy Procedure disclosing that NRAD Medical Associates, P.C., paid the firm $200,000 for legal services rendered, and to be rendered, in contemplation of and in connection with the Debtor's case. The payment was made on or about June 29, 2015. As of the Petition Date, $136,376 of that $200,000 remained as a retainer held by SilvermanAcampora. The Debtor retained SilvermanAcampora in or about April 2013 to assist with certain litigation and restructuring issues. Since then, SilvermanAcampora assisted the Debtor in restructuring two (2) credit loan facilities, advised the Debtor in a corporate restructuring transaction, and represented the Debtor in certain pending litigation. After certain equipment lessors commenced litigation against the Debtor, and a judgment was obtained by one of the Debtor's former shareholders, litigation costs increased, and the Debtor's ability to continue as a going concern was threatened. As a result, on or about June 29, 2015, prior to the Petition Date, SilvermanAcampora was paid $200,000 as a retainer for legal services to be rendered and expenses (including the filing fee) to be incurred, in connection with preparing for a Chapter 11 case in which the Debtor will restructure its finances, potentially sell certain assets, and file a plan of liquidation. As of the Petition Date, SIlvermanAcampora is holding a retainer in the amount of $136,376. The unpaid balance due and payable to SilvermanAcampora for services rendered in the Debtor's case will be determined, subject to Court approval. The Debtor paid the $1,717 filing fee in the case. The services rendered or to be rendered in this case include the following: * Analysis of the Debtor's financial condition, and rendering advice and assistance to the Debtor in determining whether to file a chapter 11 petition. * Preparation and filing of the petition, motions, applications, schedules, statement of financial affairs and other documents required by the Court. * Analysis and rendering advice and assistance to the Debtor in determining whether to sell certain assets, and preparation and filing of the motions and other relevant documents required for a potential sale of certain assets. * Representation of the Debtor at the meeting of creditors, and all appearances before the Court. * Preparation of a chapter 11 plan and related disclosure statement. The Debtor was the source of all payments made to SilvermanAcampora in the case. SilvermanAcampora expects to be required to perform substantial additional services to the Debtor and will file applications with the Court, upon appropriate notice, seeking payment of compensation and reimbursement of expenses upon appropriate notice. The firm can be reached at: SILVERMANACAMPORA LLP Gerard R. Luckman A Member of the Firm 100 Jericho Quadrangle, Suite 300 Jericho, New York 11753 Tel: (516) 479-6300 About NRAD Medical NRAD Medical Associates, P.C., operated a regional radiology imaging medical practice and a regional radiation therapy practice with 16 locations throughout Long Island and Queens, New York, before selling its assets in June 2015. NRAD Medical sought Chapter 11 bankruptcy protection (Bankr. E.D.N.Y. Case No. 15-72898) in Central Islip, New York, on July 7, 2015. The case is assigned to Judge Louis A. Scarcella. The Debtor estimated assets and liabilities of $10 million to $50 million. The Debtor is represented by Anthony C Acampora, Esq., at Silverman Acampora LLP, in Jericho, New York. According to the docket, the Debtor's Chapter 11 plan and disclosure statement are due Nov. 4, 2015. O.W. BUNKER: Bomin Asks Court to Allow 1.35MM Claim --------------------------------------------------- Bomin Bunker Oil Corp. is asking the U.S. Bankruptcy Court for the District of Connecticut to direct the debtor O.W. Bunker USA, Inc., to change the designation of Bomin's claim as "undisputed" and allow Bomin's $1,350,867 claim. On Nov. 14, 2014, the Debtors filed their Top 20 List of Creditors listing a trade debt owed by OW-US to Bomin in the amount of $1,350,867 as "Disputed." However, there is absolutely no dispute as to the claim amount due Bomin. On March 26, 2015, Bomin timely filed a Proof of Claim for the amount of $1,350,867 -- the same amount listed by the Debtor on the Schedule -- because this amount was erroneously or baselessly listed as "Disputed," Bomin said. OW-US has filed no objection to the Proof of Claim as required should a dispute over the claim amount actually exist. The undisputed claim amount was based on contractual agreements between OW-US and Bomin whereby Bomin agreed to supply bunkers to two vessels and OW-US agreed to pay Bomin for that supply. OW-US has never disputed the invoiced amounts totaling the claim due Bomin, and Bomin is entitled to recognition of its $1,350,867 claim amount -- and otherwise scheduled amount by Debtors -- as undisputed. Objection Filed The Official Committee of Unsecured Creditors asserts that Bomin has no basis for seeking an immediate determination of its claim. The Debtors and the Committee have been working diligently with parties-in-interest to propose a chapter 11 plan that would result in confirmation and a distribution to creditors holding allowed claims. The Debtors and the Committee are not required to engage in any specific claims reconciliation at this time, the Committee tells the Court. In response to the objection, Bomin points out that the Committee and the Debtors both incorrectly state that Bomin should have filed its motion as a Fed. Bankr. R. 7001 adversary proceeding. Bomin also points out that neither the Debtors nor the Committee has ever raised any substantive reason to dispute the $1,350,867 and lack any good faith basis to do so. Bomin is represented by: J. Stephen Simms, Esq. SIMMS SHOWERS LLP 201 International Circle, Suite 250 Baltimore, MD 21030 Tel: (410) 783-5795 Fax: (410) 510-1789 E-mail: jssimms@simmsshowers.com The Creditors Committee is represented by: HUNTON & WILLIAMS LLP Peter S. Partee, Sr., Esq. Michael P. Richman, Esq. Andrew Kamensky, Esq. 200 Park Avenue New York, NY 10166-0136 Telephone: (212) 309-1000 Facsimile: (212) 309-1100 E-mail: ppartee@hunton.com mrichman@hunton.com akamensky@hunton.com About O.W. Bunker OW Bunker AS is a global marine fuel (bunker) company founded in Denmark. On Nov. 6, 2014, OW Bunker A/S placed OWB Trading and O.W. Bunker Supply & Trading A/S in an in-court restructuring procedure with the probate court in Aalborg, Denmark. By Nov. 7, 2014, the Danish entities (plus O.W. Bunker Supply & Trading A/S, O.W. Cargo Denmark A/S, and Dynamic Oil Trading A/S) were placed under formal Danish bankruptcy (liquidation) proceedings in the Aalborg probate court. The company declared bankruptcy following its admission that it had lost US$275 million through a combination of fraud committed by senior executives at its Singaporean unit. The Danish company placed its U.S. subsidiaries -- O.W. Bunker Holding North America Inc., O.W. Bunker North America Inc. and O.W. Bunker USA Inc. -- in Chapter 11 bankruptcy (Bankr. D. Conn. Case Nos. 14-51720 to 14-51722) in Bridgeport, Conn., on Nov. 13, 2014. The U.S. cases are assigned to Judge Alan H.W. Shiff. The U.S. Debtors have tapped Patrick M. Birney, Esq., and Michael R. Enright, Esq., at Robinson & Cole LLP, as counsel. McCracken, Walker & Rhoads LLP is serving as co-counsel. Alvarez & Marsal is the financial advisor. The Office of the United States Trustee formed an official committee of unsecured creditors of the Debtors on Nov. 26, 2014. O.W. BUNKER: Court Enters Plan Scheduling Order ----------------------------------------------- Following a status conference on Aug. 4, 2015, Judge Alan H.W. Shiff entered an order providing that: 1. Except the alleged 11 U.S.C. Sec. 503(b)(9) administrative expense claims ("503(b)(9) Claims") of Mieco Inc., NuStar Nustar Supply & Trading LLC, NuStar Terminals Marine Services N.V. and NuStar Energy Services, Inc., objections to the status of any 503(b)(9) Claims that are filed by the Debtors on or before August 20, 2015, shall be heard on September 9, 2015 at 10:00 a.m. at 915 Lafayette Blvd., Room 123, Courtroom, Bridgeport, Connecticut 06604. 2. On or before Sept. 15, 2015, the Debtors will file with the Bankruptcy Court and serve its joint Chapter 11 plan and the disclosure statement regarding the Chapter 11 Plan. 3. Any objections to the Disclosure Statement must be filed and served upon the following parties so as to be actually received on or before 4:00 p.m. on September 30, 2015: (a) Counsel for the Debtors: Montgomery McCracken Walker & Rhoads LLP 123 South Broad Street Philadelphia, PA 19109 Attn: Natalie Ramsey Esq. - and - Robinson & Cole LLP 280 Trumbull Street Hartford, CT 06103 Attn: Patrick M. Birney, Esq.; (b) Counsel for the Official Committee of Unsecured Creditors: Hunton & Williams LLP 200 Park Avenue, 52nd Floor New York, NY 10166 Attn: Michael P. Richman, Esq. Peter S. Partee, Sr., Esq. (c) the Office of the United States Trustee, District of Connecticut, Giaimo Federal Building, 150 Court Street, Room 302, New Haven, Connecticut 06510, Attn: Holley L. Claiborn, Esq.; (d) Counsel for ING Bank N.V., as Security Agent: Allen & Overy LLP 1221 Avenue of the Americas New York, NY 10020 Attn: Daniel Guyder, Esq.; and (e) counsel for NuStar Energy Services, Inc.: Norton Rose Fulbright US LLP 300 Convent St. #2100 San Antonio, TX 78205 Attn: Michael Parker, Esq. 4. The hearing on approval of the Disclosure Statement will be held on October 6, 2015 at 11:00 a.m. at the Bankruptcy Court. 5. The hearing on the Motion to Approve Settlement Agreement Pursuant to Rule 9019 of the Federal Rules of Bankruptcy Procedure shall be held on October 6, 2015 at 11:00 a.m. at the Bankruptcy Court. 6. Ballots regarding the Chapter 11 Plan must be completed, executed and delivered so as to be received by no later than 4:00 p.m. on November 10, 2015 by Counsel for the Debtors: Montgomery McCracken Walker & Rhoads LLP, 123 South Broad Street, Philadelphia, Pennsylvania, 19109, Attn: Natalie Ramsey, Esq., or some other address that shall be contained in the Chapter 11 Plan ballot. 7. Any objections to the Chapter 11 Plan must be in writing, must state with particularity the legal and factual bases for the objections, must reference with specificity the provisions of the Chapter 11 Plan to which each objection is made, and must be filed with the Bankruptcy Court and served upon parties so as to be actually received on or before 4:00 p.m. on Nov. 10, 2015. 8. The hearing on confirmation of the Chapter 11 Plan will be held on November 18, 2015 at 10:00 a.m. at the Bankruptcy Court. About O.W. Bunker OW Bunker AS is a global marine fuel (bunker) company founded in Denmark. On Nov. 6, 2014, OW Bunker A/S placed OWB Trading and O.W. Bunker Supply & Trading A/S in an in-court restructuring procedure with the probate court in Aalborg, Denmark. By Nov. 7, 2014, the Danish entities (plus O.W. Bunker Supply & Trading A/S, O.W. Cargo Denmark A/S, and Dynamic Oil Trading A/S) were placed under formal Danish bankruptcy (liquidation) proceedings in the Aalborg probate court. The company declared bankruptcy following its admission that it had lost US$275 million through a combination of fraud committed by senior executives at its Singaporean unit. The Danish company placed its U.S. subsidiaries -- O.W. Bunker Holding North America Inc., O.W. Bunker North America Inc. and O.W. Bunker USA Inc. -- in Chapter 11 bankruptcy (Bankr. D. Conn. Case Nos. 14-51720 to 14-51722) in Bridgeport, Conn., on Nov. 13, 2014. The U.S. cases are assigned to Judge Alan H.W. Shiff. The U.S. Debtors have tapped Patrick M. Birney, Esq., and Michael R. Enright, Esq., at Robinson & Cole LLP, as counsel. McCracken, Walker & Rhoads LLP is serving as co-counsel. Alvarez & Marsal is the financial advisor. The Office of the United States Trustee formed an official committee of unsecured creditors of the Debtors on Nov. 26, 2014. PARADIGM EAST HANOVER: To Seek Confirmation of Plan on Oct. 6 ------------------------------------------------------------- The Hon. Vincent F. Papalia of the U.S. Bankruptcy Court for the District of New Jersey has approved the disclosure statement explaining Paradigm East Hanover, LLC's proposed Chapter 11 plan. In an amended order dated Aug. 21, 2015, the Court ordered that acceptances, rejections or objections to the plan must be filed with the attorney for the plan proponent not less than seven days before the hearing on confirmation of the plan. Oct. 6, 2015 at 2:30 p.m. is fixed as the date and time for the hearing on confirmation of the plan. The funds necessary for funding the Debtor's Plan will be derived from: (i) a secured loan from JABE Management ("JABE"), an affiliate of the members of the Debtor, which loan will bear interest at 5% per annum and will be satisfied from the sale of Lot 4, Lot 4.02 and/or Lot 5.01, as the case may be; (ii) the sale proceeds from the disposition of the Lots; and (iii) in the event, the Debtor is unable to close on the sale of the Lots and/or chooses not to sell any or all of the Lots on or before the 3rd anniversary of the Effective Date, the Debtor will obtain financing to satisfy all the holders of Claim in: * Class 1 - Secured Claim of the Township of East Hanover, * Class 2 - Secured Claim of EHMP * Class 3 - The Secured Claim of Empire * Class 4 - The Secured Claim of Dotoli. General unsecured claims (Class 6) will be paid a pro rata share of the Net Sale Proceeds received by the Debtor from the closing(s) on the sale of Lot 4, Lot 4.02 and/or Lot 5.01 until such time that the Class 6 Claims have been satisfied in full without interest. All existing equity interests (Class 7) will be retained by the Equity Interest Holders. PARKVIEW ADVENTIST: CMHC Asks Judge to Revise Sale Order -------------------------------------------------------- Central Maine Healthcare Corp. asked a bankruptcy judge to revise his prior order that approved the sale of Parkview Adventist Medical Center's assets to Mid Coast Hospital. In its motion, CMHC asked Judge Peter Cary of U.S. Bankruptcy Court in Maine to revise some of the findings of fact or conclusions of law in the order, which the company said are "wholly unsupported by any evidence in the record." Judge Cary wrote in his August 20 order that the consideration to be paid by Mid Coast is "fair and reasonable" and that the sale would "maximize the overall value and benefits to the estate." According to CMHC, such findings made by the bankruptcy judge are not supported by facts, adding that they should be removed from the court order. CMHC also questioned another finding that the transaction was done without collusion, pointing out that neither Parkview nor the buyer presented any evidence at the court hearings proving such. The motion is on Judge Cary's calendar for October 6. Objections are due by September 17. Parkview on July 24 proposed to sell most of its assets through a private transaction with Mid Coast. The transaction was opposed by CMHC and another creditor Beckman Coulter Inc., both of which complained that it did not give others a chance to make better offers for the assets. Parkview defended the transaction by arguing that it does not only satisfy the "business judgment rule" but will also further the hospital's charitable mission to provide faith-based health care services to the Brunswick community. On August 12, the court allowed Mid Coast to advance a portion of the purchase price of up to $700,000 to support Parkview's operations despite an objection from CMHC. At a hearing on the proposed sale, the court denied Parkview's private transaction with Mid Coast, allowing CMHC to make a rival offer. On August 19, members of Parkview selected the bid offered by Mid Coast as the winning bid. On August 20, Parkview received the green light to sell the assets to Mid Coast, which offered $3.83 million and agreed to spend $1 million each year for three consecutive years on capital improvements to the Parkview campus. The buyer is also prepared to rehire Parkview's workers, according to Mid Coast Chief Executive Officer Lois Skillings. About Parkview Adventist Parkview Adventist Medical Center, a Maine non-profit corporation, operates the Parkview Hospital, a faith-based acute care community hospital located in Brunswick, Maine, affiliated with the Seventh Day Adventist Church. Its mission is to provide services supporting the physical, emotional and spiritual wellness of its patients. Parkview sought Chapter 11 protection (Bankr. D. Maine Case No. 15-20442) in Portland, Maine, on June 16, 2015. The case is assigned to Judge Peter G Cary. The Debtor estimated $10 million to $50 million in assets and debt. The Debtor is represented by George J. Marcus, Esq., at Marcus, Clegg & Mistretta, PA, in Portland, Maine. PARKVIEW ADVENTIST: Sept. 23 Hearing on Bid to Use Sale Proceeds ---------------------------------------------------------------- A U.S. bankruptcy court is set to hear a motion filed by Parkview Adventist Medical Center to use a portion of the proceeds from the sale of its assets to Mid Coast Hospital. The U.S. Bankruptcy Court for the District of Maine will take up the motion at a hearing on Sept. 23. Parkview on August 26 sought court approval to use $125,000 of the $3.83 million it received from the sale of its assets on August 20. According to Parkview, $115,000 of the amount sought is "unencumbered" since it was allocated to Unit 23 of the Parkview Professional Building, one of the properties sold to Mid Coast which is not encumbered by any liens or mortgages. Meanwhile, the hospital needs an additional $10,000 to pay administrative expenses, according to court filings. The sale proceeds are being held by Parkview pending further court order or agreement with parties claiming interests in the proceeds. About Parkview Adventist Parkview Adventist Medical Center, a Maine non-profit corporation, operates the Parkview Hospital, a faith-based acute care community hospital located in Brunswick, Maine, affiliated with the Seventh Day Adventist Church. Its mission is to provide services supporting the physical, emotional and spiritual wellness of its patients. Parkview sought Chapter 11 protection (Bankr. D. Maine Case No. 15-20442) in Portland, Maine, on June 16, 2015. The case is assigned to Judge Peter G Cary. The Debtor estimated $10 million to $50 million in assets and debt. According to the docket, the appointment of a health care ombudsman is due by July 16, 2015. The deadline for filing claims is Oct. 7, 2015. The Debtor's plan and disclosure statement are due Oct. 14, 2015. The Debtor is represented by George J. Marcus, Esq., at Marcus, Clegg & Mistretta, PA, in Portlane, Maine. PENNYSAVER: Asset Auction Scheduled for Sept. 16-17 --------------------------------------------------- By order of the U.S. Bankruptcy Court, Tiger Capital Group's Remarketing Services Division, Hilco Industrial, The Branford Group, and Northeast Printing Machinery will conduct a two-day live webcast auction on Sept. 16 and 17 for three Southern California web printing facilities formerly owned by Brea-based Pennysaver, a publisher of advertising mailers targeting consumers. The three facilities in Brea, Mira Loma and Vista total more than 300,000 square feet, and include web offset presses, mini web presses, inserters, pre-production equipment, balers, facility support equipment, and corporate, production, and design offices. Paper inventory, trucks, other vehicles, and intellectual property assets will also be available. Live bidding will take place from the company's Mira Loma facility. Those intending to bid live online during the auction are required to register at least 24 hours prior to the event at www.SoldTiger.com Individuals wishing to submit pre-auction bids online can do so starting on Sept. 10 at www.SoldTiger.com Asset previews will be held at each site on Monday and Tuesday, Sept. 14 and 15, from 10 a.m. to 4 p.m. (PT) "These facilities offer an extraordinary opportunity for not only publishers and commercial printers, but for businesses of all types," said Jeff Tanenbaum, President of Tiger Remarketing Services. "While industry buyers can benefit from printing-related assets and Pennysaver intellectual properties, there are items to suit any business -- from office furnishings, computers and warehouse equipment to machine shops and vehicles." Printing equipment to be offered includes three Global coldset web offset presses that were built or remanufactured in 2004, a 2003 Tensor coldset web offset line, and a total of 14 Tensor/Goss, Goss Community, Global/DEV, and Didde web presses. Also available are 12 Muller/GMA newspaper inserters and dozens of Signode, Mosca and Dynaric arch- style strappers. Facility support equipment includes dozens of Clark, Nissan and Hyster LP forklifts, along with Kaeser, Ingersoll Rand, Gardner Denver and Sullair air compressors. More than 300,000 pounds of new and unopened roll stock; newsprint and offset grade paper will also be available. Information technology equipment up for sale includes hundreds of PCs and more than 50 Apple iMacs, along with server and networking equipment. Modern office furniture and equipment includes more than 50 ergonomic computer desks, executive office and conference room furnishings, and a large selection of modular furniture. Motor vehicles to be offered include two Freightliner vans, two Isuzu van trucks, Ford Transit vans, Nissan Frontier pickups, Dodge Caravans, and four Great Dane utility box trailers. Intellectual property up for auction includes trade names, domain names and custom software. For a full catalog of the items offered and details on how to schedule a site visit and bid, go to: www.SoldTiger.com Since 1962, the Pennysaver advertising newsletter has been a fixture in Southern California. The company filed for Chapter 7 Bankruptcy Protection on May 29, 2015 in Delaware Bankruptcy Court (case number no. 1:15-bk-11196). POINT BLANK: Nov. 9 Confirmation Hearing for Liquidation Plan -------------------------------------------------------------- Judge Christopher S. Sontchi of the U.S. Bankruptcy Court for the District of Delaware approved the disclosure statement explaining SS Body Armor I, Inc., et al.'s Amended Joint Chapter 11 Plan of Liquidation. A hearing to confirm the Plan will commence on Nov. 9, 2015, at 9:30 a.m., prevailing Eastern Time, and continue on Nov. 10, if needed. The Plan, co-proposed by Official Committee of Unsecured Creditors, will pay 100% to holders of secured claims. Class 3 - General Unsecured Claims, Class 4 - Subordinated Unsecured Claims, Class 5 - Class Action Claims, Class 6 - Old Common Stock Interests, Class 7 - Subordinated Common Stock Interests, Class 8 - Other Old Equity Interests and Class 9 - Other Subordinated Claims will recover nothing and are impaired. Responses to the Disclosure Statement and replies thereto were filed by (i) Lifestone Materials, LLC; (ii) Sacher, Zelman, Hartman, Paul, Beiley & Sacher, P.A.; (iii) Glenn S. Gardipee; (iv) D. David Cohen; (v) David H. Brooks; (vi) Lonestar Partners, L.P., and (vii) the Debtors. A hearing on the Disclosure Statement was held on July 23. At the hearing, the responses of Lifestone, Sacher, Gardipee, and Lonestar were overruled by the Court. The deadline to file and serve objections to the confirmation of the Plan will be on Oct. 13. The Plan Proponents will be allowed to file a brief in support of confirmation of the Plan and an omnibus reply to any objections to the Plan on or before Nov. 4. The Voting Record Date is Aug. 20. The deadline for casting a ballot or master ballot to accept or reject the Plan will be Oct. 13. A full-text copy of the Amended Disclosure Statement dated Sept. 1, 2015, is available at http://bankrupt.com/misc/SSBAds0901.pdf About Point Blank Headquartered in Pompano Beach, Florida, Point Blank Solutions, Inc. -- http://www.pointblanksolutionsinc.com/-- designs and produces body armor systems for the U.S. Military, Government and law enforcement agencies, as well as select international markets. The Company maintains facilities in Pompano Beach, Florida, and Jacksboro, Tennessee. The Company's former chief executive officer and chief operating officer were convicted in September 2010 of orchestrating a $185 million fraud. Point Blank Solutions, formerly DHB Industries, filed for Chapter 11 protection (Bankr. D. Del. Case No. 10-11255) on April 14, 2010. Laura Davis Jones, Esq., Alan J. Kornfeld, Esq., David M. Bertenthal, Esq., and Timothy P. Cairns, Esq., at Pachulski Stang Ziehl & Jones LLP, serve as bankruptcy counsel to the Debtor. Olshan Grundman Frome Rosenweig & Wolosky LLP serves as corporate counsel. Epiq Bankruptcy Solutions serves as claims and notice agent. The U.S. Trustee has appointed an Official Committee of Unsecured Creditors and a separate Official Committee of Equity Security Holders in the case. Ian Connor Bifferato, Esq., and Thomas F. Driscoll III, Esq., at Bifferato LLC; and Carmen H. Lonstein, Esq., Andrew P.R. McDermott, Esq., and Lawrence P. Vonckx, Esq., at Baker & McKenzie LLP, serve as counsel for the Official Committee of Equity Security Holders. Robert M. Hirsh, Esq., and George P. Angelich, Esq., at Arent Fox LLP, serve as counsel to the Creditors Committee, and Frederick B. Rosner, Esq., and Brian L. Arban, Esq., at the Rosner Law Group LLC, serve as co-counsel. In October 2011, the Debtors sold substantially all assets to Point Blank Enterprises, Inc. The lead debtor changed its name to SS Body Armor I, Inc., following the sale. QUICKSILVER INC: Said to File for Prearranged Bankruptcy -------------------------------------------------------- Jodi Xu Klein, Ed Hammond and Lauren Coleman-Lochner, writing for Bloomberg News, report that surfwear chain Quiksilver Inc. is preparing to file for pre-arranged Chapter 11 bankruptcy as soon as Tuesday evening in a deal that would hand control of the company to investment firm Oaktree Capital Management, according to people with knowledge of the deliberations. Oaktree also would provide $175 million in debtor-in-possession financing, according to Bloomberg, citing a person familiar with Quicksilver's thinking. Sources told Bloomberg, Quicksilver has been working with FTI Consulting Inc. on a restructuring, and is using Peter J. Solomon Co. as its investment banker. The company plans to continue with a store-closing effort after filing for bankruptcy, according to one of the people. Quiksilver's European and Asia-Pacific operations won't be part of the filing, the person said. The report notes the company had been trying to attract bidders for a management-led buyout, ideally outside of a bankruptcy, people familiar with the situation said last week. But that approach would have made it harder to abandon the company's costly leases, something Chapter 11 will allow Quiksilver to do. Oaktree, together with Centerbridge Partners, is the largest backer of Billabong International Ltd., the Australian brand. The report notes Quiksilver shares tumbled as much as 78 percent to 10 cents in late trading Tuesday, Sept. 8, after Bloomberg News reported on the bankruptcy plan. The stock had already lost 79 percent of its value this year, closing at 46 cents earlier in the day. The company received a warning from the New York Stock Exchange in July that its low stock price put it at risk for being delisted. Representatives for Huntington Beach, California-based Quiksilver and Oaktree didn't immediately respond to requests for comment. RADIOSHACK CORP: Needs Until Oct. 30 to Solicit Plan Votes ---------------------------------------------------------- RS Legacy Corporation, et al., ask the U.S. Bankruptcy Court for the District of Delaware to further extend the period during which the Debtors have exclusive right to solicit acceptances of the First Amended Joint Plan of Liquidation through and including the earlier of the effective date of the Plan and Oct. 30, 2015. Pursuant to the Solicitation Procedures Order, the deadline for voting on the First Amended Plan is September 10, 2015, and a combined hearing on the adequacy of the disclosure statement and confirmation of the First Amended Plan is scheduled for September 16, 2015. The Debtors' Exclusive Solicitation Period expired on September 4, thus, the Debtors ask for a short extension of the Exclusive Solicitation Period so that the Debtors may maintain the exclusive right to solicit plan acceptance while they seek confirmation of the First Amended Plan, Evelyn J. Meltzer, Esq., at Pepper Hamilton LLP, in Wilmington, Delaware, tells the Court. The Debtors are also represented by David M. Fournier, Esq., and Michael J. Custer, Esq., at Pepper Hamilton LLP, in Wilmington, Delaware; David G. Heiman, Esq., at Jones Day, in Cleveland, Ohio; Gregory M. Gordon, Esq., at Jones Day, in Dallas, Texas; and Thomas A. Howley, Esq., and Paul M. Green, Esq., at Jones Day, in Houston, Texas. About RadioShack Corporation Headquartered in Fort Worth, Texas, RadioShack 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 affiliates sought Chapter 11 protection (Bankr. D. Del. Lead Case No. 15-10197) on Feb. 5, 2015. 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. Quinn Emanuel Urquhart & Sullivan, LLP and Cooley LLP represent the Official Committee of Unsecured Creditors as co-counsel. Houlihan Lokey Capital, Inc., serves as financial advisor and investment banker. The bankruptcy case is assigned to Judge Brendan L. Shannon. The First Amended Plan provides that the SCP Agent will recover an estimated 80% to 90% of its allowed claim amount, estimated to total $70 million. General Unsecured Claims, estimated to total $200 to $400 million, will receive a Pro Rata share, with Allowed Claims in Classes 6 and 7, of the Remaining Liquidating Trust Assets. A blacklined version of the Disclosure Statement is available at http://bankrupt.com/misc/RSIds0810.pdf RECOVERY CENTERS: Okayed to Sell Kent Property to Valley Cities --------------------------------------------------------------- The Hon. Timothy W. Dore of the U.S. Bankruptcy Court for the Western District of Washington authorized Recovery Centers of King County to sell the real estate located at 505 Washington Avenue S., Kent, Washington, to Valley Cities Counseling and Consulting the successful bid for the property. Bank of America, N.A., submitted a limited objection but the objection was addressed after the Debtors revised the proposed order. At the behest of the parties, the Court ordered that holder of the Deed of Trust encumbering the property, Bank of America, has a continuing lien on the proceeds of the sale of the property through its security interest. The net sale proceeds of the sale of the property will be turned over to Bank of America in partial satisfaction of Bank of America's secured claim, until Bank of America's secured claim is paid in full. The remaining net proceeds will be paid over to Bank of America and applied against the balance owed on its secured claim. The $15,000 in sale proceeds paid over to the Debtor for administrative expenses will be subject to the final order authorizing use of cash collateral. The Debtor sought Court approval for the sale of three properties: (i) 464 12th Ave. S., Seattle, Washington; (ii) 1701 18th Ave. S., Seattle Washington; and (iii) 505 Washington Ave. S., Kent, Washington. As reported in the Troubled Company Reporter on Aug 19, 2015, Bank of America objected on a limited basis to the Debtor's second motion to approve the sale of real properties. The Bank said it does not object in principal to the sale of the Debtor's real property, or the proposed sale prices. However, the Bank asserted that in light of the fact that serial sales are contemplated and no one sale will satisfy the Bank's first priority secured interest in the Debtor's Real Property, each sale order approving a sale free and clear of the Bank's first priority secured interest the Debtor's Real Property must provide adequate protection to the Bank. This should be in the form of a continuing lien on the proceeds of each sale, according to the Bank. Further, the Bank contends that each proposed sale order should clarify that the net sale proceeds turned over to the Bank will be in partial satisfaction of the Bank's secured claim, until the Bank's secured claim is paid in full. About Recovery Centers Recovery Centers of King County -- http://www.rckc.org/-- provided Central Seattle and South King County residents with a continuum of care for those who suffer with alcoholism or other drug addiction. RCKC filed a Chapter 11 case (Bankr. W.D. Wash. Case No. 15-13060) on May 15, 2015. Judge Timothy W. Dore presides over the case. The Debtor tapped Jeffrey B Wells, Esq., at Wells and Jarvis, P.S., in Seattle, as counsel. The Debtor disclosed total assets of $32,462,383 and total liabilities of $17,184,837 as of the Chapter 11 filing. The Debtor's Chapter 11 plan contemplates the sale of its real estate located at 464 - 12th Ave S, Seattle, Washington, 1701 18th Ave. S, Seattle, WA and 505 Washington Ave. S., Kent, Washington. The Debtor will sell real property located at 464 12th Avenue, in Seattle, Washington, to Low Income Housing Institute for $4.1 million. Bank of America, N.A., is the Debtor's secured lender. The U.S. Trustee for Region 18 appointed five creditors to serve in the Official Unsecured Creditors Committee. The Committee is represented by Nagler Law Group, P.S. REICHHOLD HOLDINGS: Seeks Until Nov. 27 to File Plan ---------------------------------------------------- Reichhold Holdings US, Inc., et al., ask the U.S. Bankruptcy Court for the District of Delaware to extend their exclusive plan period until November 27, 2015, and their exclusive solicitation period until January 25, 2016. The Debtors explain that the Court has extended their exclusive periods three times. The Plan Filing Period is set to expire on September 28, 2015, and the Solicitation Period is set to expire on November 26, 2015. According to the Debtors, the extension will provide them and their advisors the opportunity to fully negotiate, confirm and implement the terms of a Chapter 11 liquidating plan for the distribution of assets to creditors. A hearing on the extension request is scheduled for September 22, 2015 at 3:00 p.m. Objections are due on September 15. Reichhold Holdings US, Inc., et al., are represented by: Norman L. Pernick, Esq. Marion M. Quirk, Esq. David W. Giattino, Esq. COLE SCHOTZ P.C. 500 Delaware Avenue, Suite 1410 Wilmington, DE 19801 Tel: (302) 652-3131 Fax: (302) 652-3117 Email: npernick@coleschotz.com mquirk@coleschotz.com dgiattino@coleschotz.com -- and -- Gerald H. Gline, Esq. Felice R. Yudkin, Esq. COLE SCHOTZ P.C. 25 Main Street Hackensack, NJ 07602-0800 Tel: (201) 489-3000 Fax: (201) 489-1536 Email: ggline@coleschotz.com fyudkin@coleschotz.com About Reichhold Founded in 1927, Reichhold, with its world headquarters and technology center in Durham, North Carolina, 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. 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. 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. On April 2, 2015, Reichhold disclosed that the purchase of most of the assets of the U.S. business was completed. This transaction, approved by the Delaware Bankruptcy Court on January 12, 2015, allows Reichhold's U.S. businesses to successfully emerge from bankruptcy and re-join the rest of the global Reichhold organization. Concurrent with this purchase, Reichhold completed a debt-for-equity exchange with a group of investors led by Black Diamond Capital Management LLC and including J.P. Morgan Investment Management, Inc., Third Avenue Management LLC, and Simplon Partners LP. On April 1, 2015, the U.S. Trustee named three non-union retirees of Debtors to serve as the official Non-Union Retiree Committee. Each of the Retiree Committee members is receiving retiree welfare benefits from one or more of the Debtors. The Retiree Committee tapped the law firm of Stahl Cowen Crowley Addis LLC as its counsel. RIENZI & SONS: Has Sixth Interim Cash Collateral Order ------------------------------------------------------ U.S. Bankruptcy Judge Nancy Hershey Lord has issued a sixth interim order authorizing Rienzi & Sons to use cash collateral in which Alma Bank asserts an interest. Alma Bank is entitled to adequate protection for the Debtor's use of Alma Bank's collateral. To compensate Alma Bank, the Debtor will provide Adequate Protection Liens and make adequate protection payments as set forth in the Budget, subject to any rights any party in interest may have to dispute the liens and security interests granted in favor of Alma Bank with respect to the Pre-petition Collateral. In addition, Alma Bank is granted Adequate Protection Liens. As reported in the TCR on March 17, 2015, the current outstanding secured obligation to Alma Bank is $1 million. The Debtor has about $2.0 million inventory and about $500,000 in accounts receivable. Further, the Debtor has about $2.5 million equipment. The Debtor told the Court that Alma Bank is significantly oversecured. To adequately protect Alma Bank with respect to the cash collateral utilized during its case, the Debtor proposed to maintain the value of its business though payment of the normal monthly expenditures in general accord with the budget. Furthermore, the Debtor proposed to pay Alma Bank monthly interest of $4,500. About Rienzi & Sons Rienzi & Sons filed a Chapter 11 bankruptcy petition (Bankr. E.D.N.Y. Case No. 15-40926) on March 3, 2015. The petition was signed by Michael Rienzi as president. The Debtor disclosed assets of 13,349,383 and total liabilities of $24,965,511. Vincent J Roldan, Esq., and Michael J. Sheppeard, Esq., at Ballon Stoll Bader & Nadler P.C., serve as counsel to the Debtor. Judge Nancy Hershey Lord presides over the Chapter 11 case. Wayne Greenwald, P.C., represents Alma Bank. The U.S. Trustee for for Region 2 appointed five creditors to serve in the Official Committee of Unsecured Creditors. Klestadt Winters Jureller Southard & Stevens LLP represents the Committee. RREAF O&G: U.S. Trustee Unable to Form Creditors' Committee ----------------------------------------------------------- The U.S. Trustee for Region 7 said it wasn't able to form a committee of unsecured creditors in the Chapter 11 cases of RREAF O&G Portfolio #2 LLC and its affiliates. The Justice Department's bankruptcy watchdog said it wasn't able to solicit "sufficient interest" from unsecured creditors to serve on the committee. Official creditors' committees have the right to employ legal and accounting professionals and financial advisors, at a debtor's expense. They may investigate the debtor's business and financial affairs. Importantly, official committees serve as fiduciaries to the general population of creditors they represent. About RREAF O&G RREAF O&G Portfolio #2 LLC, RREAF O&G Portfolio Manager #2 LLC, RREAF O&G Portfolio #3 LLC, and RREAF O&G Portfolio #3 Manager LLC, collectively, own eight hotel properties in Texas. RREAF O&G Portfolio #2, et al., sought Chapter 11 bankruptcy protection (Bankr. W.D. Tex. Lead Case No. 15-70094), in Midland, Texas, on July 8, 2015. Webb M. ("Kip") Sowden, III, the CEO, signed the Chapter 11 petitions. The cases are assigned to Chief Bankruptcy Judge Ronald B. King. The Debtors tapped Holland & Knight LLP as counsel. Portfolio #2 estimated $50 million to $100 million in assets and less than $50 million in debt. SAN JUAN RESORT: Seeks Final Decree Closing Chapter 11 Case ----------------------------------------------------------- The Chapter 11 Plan of San Juan Resort Owners Inc. has been fully consummated and accordingly, the Debtor asks the Bankruptcy Court to issue a final decree closing the Chapter 11 case. U.S. Bankruptcy Judge Mildred Caban Flores confirmed the Chapter 11 Plan on Aug. 25, 2015. The Debtor has paid all administrative expenses, including court authorized professional compensation, US Trustee Fees, post-petition taxes, and the sale closing costs. The Holders of Allowed Priority Tax Claims, basically composed of Room Taxes due to the Tourism Company of Puerto Rico and the secured claims of CRIM, have been paid in full in cash, out of the proceeds of the Debtor's Assets Sale. These payments amount to $678,436.52. The secured claims of Banco Popular de Puerto Rico (BPPR) received $7,857,930 from the proceeds of the sale of the Debtor's assets, executed on July 17,2015, as per the agreement reached with this secured creditor. The Holders of Allowed General Unsecured Claims, including those arising from rejected executory contracts, but excluding BPPR's deficiency claim, were paid in full satisfaction of such Claims approximately 0.3% thereof, from the $50,000 carve out reserved from the proceeds of the sale of Debtor's assets. About San Juan Resort San Juan Resort Owners Inc. sought Chapter 11 bankruptcy protection (Bankr. D.P.R. Case No. 15-01627) in Old San Juan, Puerto Rico on March 5, 2015. The petition was signed by Luis A. Carreras Perez as president. The Debtor is represented by William M. Vidal, Esq., at William Vidal Carvajal Law Offices in San Juan, Puerto Rico. The Debtor disclosed $12,787,943 in assets and $33,014,219 in liabilities as of the Chapter 11 filing. When it filed for bankruptcy, the Debtor owned a parcel of land of 1,637 square meters, with commercial property known as the San Juan Beach Hotel, a 96-room hotel. The hotel is located at 1045, Ashford Avenue, Condado, San Juan, Puerto Rico. The company claims the property is worth $11 million based on appraised value. Banco Popular de Puerto Rico is owed $17.5 million, of which $6.56 million is unsecured. SANDY CREEK: Bank Debt Trades at 5% Off --------------------------------------- Participations in a syndicated loan under which Sandy Creek Energy Associates is a borrower traded in the secondary market at 95.38 cents-on-the-dollar during the week ended Friday, September 4, 2015, according to data compiled by LSTA/Thomson Reuters MTM Pricing and reported in the September 8, 2015, edition of The Wall Street Journal. This represents a decrease of 0.79 percentage points from the previous week, The Journal relates. Sandy Creek Energy Associates pays 400 basis points above LIBOR to borrow under the facility. The bank loan matures on November 6, 2020. Moody's rates the loan 'Ba3' and Standard & Poor's gave a 'B+' rating to the loan. The loan is one of the biggest gainers and losers among 229 widely quoted syndicated loans with five or more bids in secondary trading for the week ended Friday, September 4. SANTA FE GOLD: Court Issues Joint Administration Order ------------------------------------------------------ Judge Mary F. Walrath of the U.S. Bankruptcy Court for the District of Delaware issued an order directing joint administration of the Chapter 11 cases of Santa Fe Gold Corporation and its debtor affiliates under Lead Case No. 15-11761. About Santa Fe Gold Santa Fe Gold Corporation and three affiliated entities, a group of mining and mineral exploration companies headquartered in Lordsburg, New Mexico, filed Chapter 11 bankruptcy petitions (Bankr. D. Del. Lead Case No. 15-11761) on Aug. 26, 2015, to pursue an expedited sale of their assets in order to maximize value for all stakeholders. The case is pending before the Honorable Mary F. Walrath. The cases are being jointly administered for procedural purposes. The Debtor continues to operate its business and manage its properties as a debtor-in-possession. The Debtors tapped Young Conaway Stargatt & Taylor, LLP, as counsel; Canaccord Genuity Group Inc., as financial advisor; and American Legal Claim Services, LLC, as notice, claims, and solicitation agent. SANTA FE GOLD: Has Interim OK to Tap Waterton DIP Loan ------------------------------------------------------ Judge Mary F. Walrath of the U.S. Bankruptcy Court for the District of Delaware gave Santa Fe Gold Corporation, et al., interim authority to obtain in aggregate amount not more than $391,547, plus the Initial Roll Up Amount and the Structuring Fee from Waterton Global Value, L.P., by its investment manager, Altitude Management Limited, as lender. The DIP facility, on a final basis, will consist of postpetition financing of $1.58 million plus roll-up loans. Waterton is already owed $12.8 million on a prepetition financing secured by a first priority lien on substantially all assets and stock of subsidiaries. In addition, the Debtors are still in the process of determining their obligations to Waterton under a gold and silver supply agreement. The DIP facility will bear interest at 12% per annum, with a default rate of the interest rate plus 2%. There will be a structuring fee equal to 2% of the term loan commitment, a termination fee in the amount of 3% of the term loan commitment, and an extension fee in the amount of the 2% of the principal amount of the loans being extended. The final hearing to consider entry of the final order and final approval of the DIP Facility is scheduled for Sept. 24, 2015, at 11:30 A.M. (ET). Objections must be filed no later than Sept. 17. A full-text copy of the Interim DIP Order with Budget is available at http://bankrupt.com/misc/SFGdipord0827.pdf About Santa Fe Gold Santa Fe Gold Corporation and three affiliated entities, a group of mining and mineral exploration companies headquartered in Lordsburg, New Mexico, filed Chapter 11 bankruptcy petitions (Bankr. D. Del. Lead Case No. 15-11761) on Aug. 26, 2015, to pursue an expedited sale of their assets in order to maximize value for all stakeholders. The case is pending before the Honorable Mary F. Walrath. The cases are being jointly administered for procedural purposes. The Debtor continues to operate its business and manage its properties as a debtor-in-possession. The Debtors tapped Young Conaway Stargatt & Taylor, LLP, as counsel; Canaccord Genuity Group Inc., as financial advisor; and American Legal Claim Services, LLC, as notice, claims, and solicitation agent. SANTA FE GOLD: Has Until Sept. 25 to File Schedules --------------------------------------------------- Judge Mary F. Walrath of the U.S. Bankruptcy Court for the District of Delaware extended the time by which Santa Fe Gold Corporation, et al., must file their schedules of assets and liabilities and statements of financial affairs through and including Sept. 25, 2015. The Debtors originally asked the Court to extend their schedules filing dated until Oct. 9. In support of the extension request, Kenneth J. Enos, Esq., at Young Conaway Stargatt & Taylor, LLP, in Wilmington, Delaware, explained that in view of the amount of work entailed in completing the Schedules, and the competing demands upon the Debtors' employees and professional advisors to assist in the Debtors' efforts to effectuate a sale of the Debtors' assets with a corresponding auction process during the initial post-petition period, the Debtors will not be able to properly and accurately complete the Schedules within the 14-day period following the Petition Date. About Santa Fe Gold Santa Fe Gold Corporation and three affiliated entities, a group of mining and mineral exploration companies headquartered in Lordsburg, New Mexico, filed Chapter 11 bankruptcy petitions (Bankr. D. Del. Lead Case No. 15-11761) on Aug. 26, 2015, to pursue an expedited sale of their assets in order to maximize value for all stakeholders. The case is pending before the Honorable Mary F. Walrath. The cases are being jointly administered for procedural purposes. The Debtor continues to operate its business and manage its properties as a debtor-in-possession. The Debtors tapped Young Conaway Stargatt & Taylor, LLP, as counsel; Canaccord Genuity Group Inc., as financial advisor; and American Legal Claim Services, LLC, as notice, claims, and solicitation agent. SEADRILL LTD: Bank Debt Trades at 32% Off ----------------------------------------- Participations in a syndicated loan under which Seadrill Ltd is a borrower traded in the secondary market at 67.63 cents-on-the-dollar during the week ended Friday, September 4, 2015, according to data compiled by LSTA/Thomson Reuters MTM Pricing and reported in the September 8, 2015, edition of The Wall Street Journal. This represents an increase of 0.63 percentage points from the previous week, The Journal relates. Seadrill Ltd pays 300 basis points above LIBOR to borrow under the facility. The bank loan matures on February 17, 2021. Moody's rates the loan 'Ba3' and Standard & Poor's gave a 'BB-' rating to the loan. The loan is one of the biggest gainers and losers among 229 widely quoted syndicated loans with five or more bids in secondary trading for the week ended Friday, September 4. SIGNAL INTERNATIONAL: Court Approves Young Conaway as Counsel ------------------------------------------------------------- Signal International, Inc. and its debtor-affiliates sought and obtained permission from the Hon. Mary F. Walrath of the U.S. Bankruptcy Court for the District of Delaware to employ Young Conaway Stargatt & Taylor, LLP as counsel, effective July 12, 2015 petition date. The professional services that Young Conaway will render to the Debtors include, but shall not be limited to: -- providing legal advice with respect to the Debtors' powers and duties as debtors in possession in the continued operation of their business, management of their properties, and the potential sale of their assets; -- preparing and pursuing confirmation of a plan and approval of a disclosure statement; -- preparing, on behalf of the Debtors, necessary applications, motions, answers, orders, reports, and other legal papers; -- appearing in Court and protecting the interests of the Debtors before the Court; and -- performing all other legal services for the Debtors that may be necessary and proper in these proceedings. Young Conaway will be paid at these hourly rates: M. Blake Cleary $695 Kenneth J. Enos $465 Jaime Luton Chapman $445 Travis G. Buchanan $335 Debbie Laskin (paralegal) $250r Young Conaway will also be reimbursed for reasonable out-of-pocket expenses incurred. Young Conaway received a retainer in the amount of $25,000 on March 16, 2015, in connection with the planning and preparation of initial documents and the Firm's proposed post-petition representation of the Debtors. On April 30, 2015, Young Conaway also received $8,585 as advanced payment for chapter 11 filing fees and an additional $50,000 to supplement the Retainer. On July 2, 2015, Young Conaway received a further supplement to the Retainer in the amount of $60,000. M. Blake Cleary, partner of Young Conaway, assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtors and their estates. Young Conaway can be reached at: M. Blake Cleary, Esq. YOUNG CONAWAY STARGATT & TAYLOR, LLP Rodney Square 1000 North King Street Wilmington, DE 19801 Tel: (302) 571-6600 Fax: (302) 571-1253 About Signal International Signal International Inc. -- http://www.signalint.com/-- primarily engages in the business of offshore drilling rig overhaul, repair, upgrade, and conversion, as well as new shipbuilding construction. Additionally, Signal provides services to the general marine and heavy fabrication markets for barges, power plants, and modular construction. Signal International, LLC ("SI LLC"), was organized on Dec. 6, 2002, as a limited liability company after acquiring the assets of the Offshore Division of Friede Goldman Halter from bankruptcy. SI Inc. was incorporated on Oct. 12, 2007, and began operations with offshore fabrication and repair in Mississippi. Today, Signal's corporate headquarters are in Mobile, Alabama, with operations in Alabama and Mississippi, and a sales office in Texas. On Oct. 3, 2014, Signal International Texas, L.P., sold substantially all of its assets to Westport Orange Shipyard, LLC, in a partially seller-financed transaction for a total purchase price of $35,900,000. As part of the transaction, Westport provided a down payment of $7,000,000 and delivered a promissory note in the principal amount of $28,900,000 to SI Texas due on or before Oct. 3, 2019 (the "Texas Note"). On July 12, 2015, SI Inc. and its direct and indirect wholly owned subsidiaries, including SI LLC, commenced cases under chapter 11 of title 11 of the United States Code (Bankr. D. Del. Lead Case No. 15-11498). The Debtors tapped Young Conaway Stargatt & Taylor LLP as bankruptcy counsel, Hogan Lovells US LLP as general corporate counsel, GGG Partners, LLC, as financial and restructuring advisors, and Kurtzman Carson Consultants LLC as claims and noticing agent. Signal International Inc. estimated $10 million to $50 million in assets and $50 million to $100 million in debt. The U.S. Trustee for Region 3 appointed seven creditors to serve on the official committee of unsecured creditors. SIGNAL INTERNATIONAL: Court OKs GGG Partners as Financial Advisor ----------------------------------------------------------------- Signal International, Inc. and its debtor-affiliates sought and obtained permission from the Hon. Mary F. Walrath of the U.S. Bankruptcy Court for the District of Delaware to employ GGG Partners, LLC as financial advisor, effective July 12, 2015 petition date. The Debtors require GGG Partners to: -- assist and advise the Debtors with the analysis of the Debtors' business, business plan, and strategic and financial position; -- assist and advise the Debtors in connection with any sale or other disposition of assets of the Debtors; -- assist with the formulation, evaluation, and implementation of various options for a restructuring plan to be confirmed in these chapter 11 cases; -- assist in negotiations with creditors, shareholders, and other appropriate parties in interest; -- provide financial advisory services in connection with valuation, financial projection, or other analyses with respect to a restructuring plan; and -- if necessary, participate in hearings before the Court with respect to matters upon which GGG has provided advice, including coordinating with the Debtors' counsel with respect to testimony in connection therewith. GGG Partners will be paid at these hourly rates: Katie Goodman $400 Scott Yates $350 GGG Partners will also be reimbursed for reasonable out-of-pocket expenses incurred. Prior to the Petition Date, the Debtors provided GGG a retainer in the amount of $25,000. Scott D. Yates, shareholder of GGG Partners, assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtors and their estates. GGG Partners can be reached at: Scott D. Yates GGG PARTNERS, LLC 3155 Roswell Road NE, Suite 120 Atlanta, GA 30305 Tel: (404) 256-0003 ext. 234 About Signal International Signal International Inc. -- http://www.signalint.com/-- primarily engages in the business of offshore drilling rig overhaul, repair, upgrade, and conversion, as well as new shipbuilding construction. Additionally, Signal provides services to the general marine and heavy fabrication markets for barges, power plants, and modular construction. Signal International, LLC ("SI LLC"), was organized on Dec. 6, 2002, as a limited liability company after acquiring the assets of the Offshore Division of Friede Goldman Halter from bankruptcy. SI Inc. was incorporated on Oct. 12, 2007, and began operations with offshore fabrication and repair in Mississippi. Today, Signal's corporate headquarters are in Mobile, Alabama, with operations in Alabama and Mississippi, and a sales office in Texas. On Oct. 3, 2014, Signal International Texas, L.P., sold substantially all of its assets to Westport Orange Shipyard, LLC, in a partially seller-financed transaction for a total purchase price of $35,900,000. As part of the transaction, Westport provided a down payment of $7,000,000 and delivered a promissory note in the principal amount of $28,900,000 to SI Texas due on or before Oct. 3, 2019 (the "Texas Note"). On July 12, 2015, SI Inc. and its direct and indirect wholly owned subsidiaries, including SI LLC, commenced cases under chapter 11 of title 11 of the United States Code (Bankr. D. Del. Lead Case No. 15-11498). The Debtors tapped Young Conaway Stargatt & Taylor LLP as bankruptcy counsel, Hogan Lovells US LLP as general corporate counsel, GGG Partners, LLC, as financial and restructuring advisors, and Kurtzman Carson Consultants LLC as claims and noticing agent. Signal International Inc. estimated $10 million to $50 million in assets and $50 million to $100 million in debt. The U.S. Trustee for Region 3 appointed seven creditors to serve on the official committee of unsecured creditors. SIGNAL INTERNATIONAL: Kurtzman Carson Okayed as Admin. Advisors --------------------------------------------------------------- Signal International, Inc. and its debtor-affiliates sought and obtained permission from the Hon. Mary F. Walrath of the U.S. Bankruptcy Court for the District of Delaware to employ Kurtzman Carson Consultants LLC as administrative advisor, effective July 12, 2015 petition date. The Debtors seek to retain Kurtzman Carson to provide, among other things, the following bankruptcy administrative services, if and to the extent requested: (a) assisting with, among other things, solicitation, balloting, and tabulation and calculation of votes, as well as preparing any appropriate reports, as required in furtherance of confirmation of plan(s) of reorganization; (b) generating an official ballot certification and testifying, if necessary, in support of the ballot tabulation results; (c) gathering data in conjunction with the preparation, and assist with the preparation, of the Debtors' schedules of assets and liabilities and statements of financial affairs; (d) generating, providing, and assisting with claims objections, exhibits, claims reconciliation, and related matters; (e) providing a confidential data room; (f) managing any distributions pursuant to a confirmed plan of reorganization; and (g) providing such other claims processing, noticing, solicitation, balloting, and administrative services described in the Services Agreement, but not included in the Section 156(c) Application, as may be requested from time to time by the Debtors. Prior to the Petition Date, the Debtors provided Kurtzman Carson a retainer in the amount of $25,000. Kurtzman Carson will also be reimbursed for reasonable out-of-pocket expenses incurred. Evan Gershbein, senior vice president at Kurtzman Carson, assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtors and their estates. Kurtzman Carson can be reached at: Drake D. Foster KURTZMAN CARSON CONSULTANTS LLC 2335 Alaska Ave. El Segundo, CA 90245 Tel: (310) 823-9000 Fax: (310) 823-9133 E-Mail: dfoster@kccllc.com About Signal International Signal International Inc. -- http://www.signalint.com/-- primarily engages in the business of offshore drilling rig overhaul, repair, upgrade, and conversion, as well as new shipbuilding construction. Additionally, Signal provides services to the general marine and heavy fabrication markets for barges, power plants, and modular construction. Signal International, LLC ("SI LLC"), was organized on Dec. 6, 2002, as a limited liability company after acquiring the assets of the Offshore Division of Friede Goldman Halter from bankruptcy. SI Inc. was incorporated on Oct. 12, 2007, and began operations with offshore fabrication and repair in Mississippi. Today, Signal's corporate headquarters are in Mobile, Alabama, with operations in Alabama and Mississippi, and a sales office in Texas. On Oct. 3, 2014, Signal International Texas, L.P., sold substantially all of its assets to Westport Orange Shipyard, LLC, in a partially seller-financed transaction for a total purchase price of $35,900,000. As part of the transaction, Westport provided a down payment of $7,000,000 and delivered a promissory note in the principal amount of $28,900,000 to SI Texas due on or before Oct. 3, 2019 (the "Texas Note"). On July 12, 2015, SI Inc. and its direct and indirect wholly owned subsidiaries, including SI LLC, commenced cases under chapter 11 of title 11 of the United States Code (Bankr. D. Del. Lead Case No. 15-11498). The Debtors tapped Young Conaway Stargatt & Taylor LLP as bankruptcy counsel, Hogan Lovells US LLP as general corporate counsel, GGG Partners, LLC, as financial and restructuring advisors, and Kurtzman Carson Consultants LLC as claims and noticing agent. Signal International Inc. estimated $10 million to $50 million in assets and $50 million to $100 million in debt. The U.S. Trustee for Region 3 appointed seven creditors to serve on the official committee of unsecured creditors. SIGNAL INTERNATIONAL: Proposes Oct. 8 Disclosure Statement Hearing ------------------------------------------------------------------ Signal International, Inc., et al., filed with the U.S. Bankruptcy Court for the District of Delaware a Joint Plan of Liquidation and accompanying disclosure statement and proposed to present the disclosure statement for approval at a hearing on Oct. 8, 2015, at 3:00 p.m. (Prevailing Eastern Time). Under the Plan, holders of Class 5 - General Unsecured Claims will receive its Pro Rata share of the GUC Payment Amount and its Pro Rata share of that portion of the Excess Sale Overpayment allocated to holders of General Unsecured Claims. The GUC Payment Amount will be an aggregate amount equal to the lesser of (i) $900,000, or (ii) an amount equal to 15% of the total amount of all Allowed General Unsecured Claims which remain outstanding after all assumption and cure has been implemented. General Unsecured Claims are estimated to total approximately $6.0 million. On Aug. 28, the Court held a hearing to consider, among other things, the Debtors' request to assume a plan support agreement. Prior to the hearing, the Debtors had consensually resolved the informal responses filed by Max Specialty Insurance Company, the U.S. Trustee, and the Official Committee of Unsecured Creditors. Subsequently, the Court authorized the Debtors to assume the PSA. The Debtors propose that objections, if any, to the approval of the Disclosure Statement must be filed on or before Oct. 1, 2015. A full-text copy of the Disclosure Statement dated Sept. 3, 2015, is available at http://bankrupt.com/misc/SIIds0903.pdf About Signal International Signal International Inc. -- http://www.signalint.com/-- primarily engages in the business of offshore drilling rig overhaul, repair, upgrade, and conversion, as well as new shipbuilding construction. Additionally, Signal provides services to the general marine and heavy fabrication markets for barges, power plants, and modular construction. Signal International, LLC, was organized on Dec. 6, 2002, as a limited liability company after acquiring the assets of the Offshore Division of Friede Goldman Halter from bankruptcy. SI Inc. was incorporated on Oct. 12, 2007, and began operations with offshore fabrication and repair in Mississippi. Today, Signal's corporate headquarters are in Mobile, Alabama, with operations in Alabama and Mississippi, and a sales office in Texas. On Oct. 3, 2014, Signal International Texas, L.P., sold substantially all of its assets to Westport Orange Shipyard, LLC, in a partially seller-financed transaction for a total purchase price of $35,900,000. As part of the transaction, Westport provided a down payment of $7,000,000 and delivered a promissory note in the principal amount of $28,900,000 to SI Texas due on or before Oct. 3, 2019. On July 12, 2015, SI Inc. and its direct and indirect wholly owned subsidiaries, including SI LLC, commenced cases under chapter 11 of the Bankruptcy Code (Bankr. D. Del. Lead Case No. 15-11498). The Debtors tapped Young Conaway Stargatt & Taylor LLP as bankruptcy counsel, Hogan Lovells US LLP as general corporate counsel, GGG Partners, LLC, as financial and restructuring advisors, and Kurtzman Carson Consultants LLC as claims and noticing agent. Signal International Inc. listed in its schedules $21,455,778 in total assets and $90,637,746 in total liabilities. The U.S. Trustee for Region 3 appointed seven creditors to serve on the official committee of unsecured creditors. SIGNAL INTERNATIONAL: SSG Advisors Okayed as Investment Bankers --------------------------------------------------------------- Signal International, Inc. and its debtor-affiliates sought and obtained permission from the Hon. Mary F. Walrath of the U.S. Bankruptcy Court for the District of Delaware to employ SSG Advisors, LLC as investment banker, effective July 12, 2015 petition date. The services that SSG Advisors will provide to the Debtors in connection with the bid process and sale include, but shall not be limited to: (a) preparing an information memorandum describing the Debtors, their historical performance including existing operations, facilities, contracts, customers, management and projected financial results and operations; (b) assisting the Debtors in compiling a data room of any necessary and appropriate documents related to the sale; (c) assisting the Debtors in developing a list of suitable potential buyers who will be contacted on a discreet and confidential basis after approval by the Debtors; (d) coordinating the execution of confidentiality agreements for potential buyers wishing to review the information memorandum; (e) assisting the Debtors in coordinating management calls and site visits for interested buyers and working with the management team to develop appropriate presentations for such presentations and visits; (f) soliciting competitive offers from potential buyers; (g) advising and assisting the Debtors in structuring the transaction and negotiating the transaction agreements; (h) providing testimony in support of the sale; and (i) otherwise assisting the Debtors and their counsel as necessary through closing on a best efforts basis. The fee structure provides for the following compensation to SSG Advisors: -- Monthly Fees. Monthly fees of $50,000 per month payable upon execution of this Engagement Agreement and continuing each month thereafter during the Engagement Term. -- Sale Fee. Upon the consummation of a Sale Transaction, SSG shall be entitled to a fee, payable in cash, in federal funds via wire transfer or certified check, at and as a condition of closing of such Sale, equal to $750,000 for the proposed stalking horse purchaser. If the purchase price ends up greater than the stalking horse bid then the fee will be $750,000 for the stalking horse bid plus 4.0% of Total Consideration over the stalking horse purchase amount to any third-party purchaser. If, for example, the stalking horse bid is $100 million and the final total consideration is $120 million, then the fee would be $750,000 plus 4% of $20 million ($120 million - $100 million) is $1,550,000. -- Restructuring Fee. In the event that the Sale process has been initiated but the Debtors ultimately close a Restructuring in lieu of a Sale Transaction, SSG shall be entitled to a fee equal to $300,000. which shall be paid from operating cash flow, available cash, new funds or otherwise. -- In addition to the foregoing Fees, whether or not a Sale or Restructuring Transaction is consummated, SSG will be entitled to reimbursement for all of SSG's reasonable out- of-pocket expenses incurred in connection with the subject matter of this engagement. J. Scott Victor, managing director of SSG Advisors, assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtors and their estates. SSG Advisors can be reached at: J. Scott Victor SSG ADVISORS, LLC Five Tower Bridge, Suite 420 300 Barr Harbor Drive West Conshohocken, PA 19428 Tel: (610) 940-5802 E-mail: jsvictor@ssgca.com About Signal International Signal International Inc. -- http://www.signalint.com/-- primarily engages in the business of offshore drilling rig overhaul, repair, upgrade, and conversion, as well as new shipbuilding construction. Additionally, Signal provides services to the general marine and heavy fabrication markets for barges, power plants, and modular construction. Signal International, LLC ("SI LLC"), was organized on Dec. 6, 2002, as a limited liability company after acquiring the assets of the Offshore Division of Friede Goldman Halter from bankruptcy. SI Inc. was incorporated on Oct. 12, 2007, and began operations with offshore fabrication and repair in Mississippi. Today, Signal's corporate headquarters are in Mobile, Alabama, with operations in Alabama and Mississippi, and a sales office in Texas. On Oct. 3, 2014, Signal International Texas, L.P., sold substantially all of its assets to Westport Orange Shipyard, LLC, in a partially seller-financed transaction for a total purchase price of $35,900,000. As part of the transaction, Westport provided a down payment of $7,000,000 and delivered a promissory note in the principal amount of $28,900,000 to SI Texas due on or before Oct. 3, 2019 (the "Texas Note"). On July 12, 2015, SI Inc. and its direct and indirect wholly owned subsidiaries, including SI LLC, commenced cases under chapter 11 of title 11 of the United States Code (Bankr. D. Del. Lead Case No. 15-11498). The Debtors tapped Young Conaway Stargatt & Taylor LLP as bankruptcy counsel, Hogan Lovells US LLP as general corporate counsel, GGG Partners, LLC, as financial and restructuring advisors, and Kurtzman Carson Consultants LLC as claims and noticing agent. Signal International Inc. estimated $10 million to $50 million in assets and $50 million to $100 million in debt. The U.S. Trustee for Region 3 appointed seven creditors to serve on the official committee of unsecured creditors. SPECTRUM ANALYTICAL: Court Approves Sale to Eurofins Scientific --------------------------------------------------------------- Sherri Toub, a bankruptcy columnist at Bloomberg News, reported that a bankruptcy judge in Springfield, Massachusetts, signed an order Aug. 25 approving the sale of Spectrum Analytical Inc. to Eurofins Scientific Inc., which offered $5 million. As previously reported by The Troubled Company Reporter, the Debtors sold (i) a real estate at 830 Silver Street and 11 Herbert P. Amgren Drive, Agawam, Massachusetts; (ii) all of Spectrum's equipment and inventory located in the United States; (iii) Spectrum's rights to the name Sectrum Anaytical; (iv) Spectrum's accounts receivables (except those from Hannibal Technology, LLC); and (v) all of Spectrum's motor vehicles. About Spectrum Analytical Spectrum Analytical Inc. provides testing and analytical data for environmental interests. Hanibal Technology LLC serves as Spectrum's exclusive international marketing and sales agent, and focuses on education, research, and development in environmental technology. Spectrum maintains offices in Agawam, Massachusetts, Tampa, Florida, North Kingstown, Rhode Island, and Syracuse, New York. Spectrum Analytical and Hanibal Technology commenced Chapter 11 bankruptcy cases (Bankr. D. Mass. Case Nos. 15-30404 and 15-30405) on April 30, 2015, to retake management of their business and assets from the receiver installed by their lender. Hanibal Tayeh, the sole member, signed the bankruptcy petitions. Spectrum disclosed $8,658,751 in assets and $1,987,714 in liabilities as of the Chapter 11 filing. Hanibal estimated less than $10 million in assets and debt. Bacon Wilson, P.C., serves as the Debtors' counsel. Steven Weiss, the Chapter 11 trustee tapped Seth Schalow as restructuring consultant for the estate. TechKnowledgey Strategic Group, serves as his business broker, and Shatz Schwartz and Fentin. P.C., as his counsel. STERLING & SEVENTH: Voluntary Chapter 11 Case Summary ----------------------------------------------------- Debtor: Sterling & Seventh LLC 1328 President Street Brooklyn, NY 11213 Case No.: 15-44135 Nature of Business: Single Asset Real Estate Chapter 11 Petition Date: September 8, 2015 Court: United States Bankruptcy Court Eastern District of New York (Brooklyn) Debtor's Counsel: Barry D Haberman, Esq. 254 South Main Street, #404 New City, NY 10956 Tel: 845-638-4294 Fax: 845-638-6080 Email: bdhlaw@aol.com Estimated Assets: $0 to $50,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Jacob Pinson, managing member. The Debtor did not include a list of its largest unsecured creditors when it filed the petition. STRATECO RESOURCES: Quebec Court Extends CCAA Process Until Oct. 1 ------------------------------------------------------------------ The Superior Court of Quebec (Commercial Division) has extended the initial order issued under the Companies' Creditors Arrangement Act in relation to Strateco Resources Inc. until October 1, 2015. The Honourable Justice Danielle Turcotte, appointed to oversee the CCAA proceedings instituted by Strateco, approved on September 3, 2015 an extension of the protection provided by the initial order until October 1, 2015, to enable Strateco to finalize its efforts to finance the $190 million lawsuit against the Quebec government. Furthermore, a cease trade order has been issued by the Autorite des marches financiers on September 4, 2015, against Strateco for failing to file Management discussion and analysis and financial statements for the quarter ended June 30, 2015. Upon revocation of the cease trade order, the Strateco's shares will remain suspended until Strateco meets TSX Venture Exchange requirements. Members are prohibited from trading in the securities of Strateco during the period of the suspension or until further notice. Based in Montreal, Canada, Strateco Resources Inc. -- http://www.stratecoinc.com-- is an exploration stage company that engages in the acquisition, development, evaluation, and exploration of mineral. TRONOX INC: Bank Debt Trades at 6% Off -------------------------------------- Participations in a syndicated loan under which Tronox Inc. is a borrower traded in the secondary market at 93.88 cents-on-the-dollar during the week ended Friday, September 4, 2015, according to data compiled by LSTA/Thomson Reuters MTM Pricing and reported in the September 8, 2015, edition of The Wall Street Journal. This represents an increase of 0.41 percentage points from the previous week, The Journal relates. Tronox Inc. pays 300 basis points above LIBOR to borrow under the facility. The bank loan matures on March 15, 2020. Moody's rates the loan 'Ba3' and Standard & Poor's gave a 'BB+' rating to the loan. The loan is one of the biggest gainers and losers among 229 widely quoted syndicated loans with five or more bids in secondary trading for the week ended Friday, September 4. VERMEIL LLC: Voluntary Chapter 11 Case Summary ---------------------------------------------- Debtor: The Vermeil LLC 1328 President Street Brooklyn, NY 11213 Case No.: 15-44136 Nature of Business: Single Asset Real Estate Chapter 11 Petition Date: September 8, 2015 Court: United States Bankruptcy Court Eastern District of New York (Brooklyn) Debtor's Counsel: Barry D Haberman, Esq. 254 South Main Street, #404 New City, NY 10956 Tel: 845-638-4294 Fax: 845-638-6080 Email: bdhlaw@aol.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Jacob Pinson, managing member. The Debtor did not include a list of its largest unsecured creditors when it filed the petition. VOICE PAC: Bankruptcy Trustee to Put Assets Up for Sale ------------------------------------------------------- Auction Markets on Sept. 8 disclosed that The Restore America's Voice PAC and Restore America's Voice Foundation raised more than $13.7 million from conservative Americans over five years, and now the assets used to raise much of that money -- including more than 400,000 email addresses and 277,000 postal addresses -- are being offered for sale by a Bankruptcy Trustee. Despite its effectiveness in raising funds -- largely from individuals seeking to repeal the Affordable Health Care Act -- the PAC and foundation had to enter Chapter 7 Bankruptcy, and the sale of the assets is being overseen by the U.S. Bankruptcy Court, Eastern District of Virginia, Alexandria Virginia. "We believe this data and these domains can be valuable to conservative campaign organizations, political action committees and other conservative issue advocates as we move into the heart of the 2016 election year," said Stephen Karbelk, president of Auction Markets, which is marketing the assets for H. Jason Gold, the chapter 7 bankruptcy trustee. Most of the names, email addresses, postal addresses and other data came from direct response television commercials, which were seen by more 50 million viewers during the PAC's five years of operation according to information published by Restore America's Voice. Also selling are eight Internet domains, including RepealitNow.com, RepealitNow.org, RepealHealthCareAct.com, RepealHealthCareAct.org, and variations on RestoreAmericasVoice and the websites that still remain live. Prospective buyers may make offers on the contact data alone, the domains alone, or all of the assets as a "turn key" PAC. "This is a very attractive situation for someone or a group that shares the passionate beliefs of the Restore America's Voice contributors. The high bidder will receive the assets of Restore America's Voice, free and clear of liens and encumbrances," said Mr. Karbelk. "The repeal of Obamacare is once again in the forefront of public policy debate. We believe it is likely that these assets will be of great interest to those supporting the repeal of the Affordable Care Act as well as other conservative causes," added H. Jason Gold, the chapter 7 bankruptcy trustee. Gold is a partner in the law firm of Nelson Mullins Riley & Scarborough LLP. He is resident in the firm's Washington, DC, office. The sale of the assets will be subject to the approval of the U.S. Bankruptcy Court. Individuals seeking additional information may visit auctionmarkets.com or contact Stephen Karbelk at 571-481-1037. Gold can be reached at Jason.gold@nelsonmullins.com. WALTER ENERGY: Files Plan Without Offer to Jr. Bondholders ---------------------------------------------------------- Bill Rochelle, a bankruptcy columnist at Bloomberg News, reported that Walter Energy Inc. filed a Chapter 11 plan to carry out an agreement with holders of more than 70% of $1.98 billion in first-lien bonds to convert their debt into ownership of an as-yet unspecified percentage of the reorganized company's common stock. According to the report, the disclosure statement explaining the plan, filed on Aug. 26, tells workers that their unions must agree to "material concessions" allowing approval of the plan by Jan. 13, else the business will be sold. The report related that the treatment of $360.5 million in second-lien notes isn't specified in the plan as holders of $771 million in unsecured notes and other unsecured creditors aren't told what their recovery will be, if anything, either. About Walter Energy Walter Energy -- http://www.walterenergy.com/-- is a publicly traded "pure-play" metallurgical coal producer for the global steel industry with strategic access to steel producers in Europe, Asia and South America. The Company also produces thermal coal, anthracite, metallurgical coke and coal bed methane gas. Walter Energy employs approximately 2,700 employees, with operations in the United States, Canada and the United Kingdom. For the year ended Dec. 31, 2014, the Company reported a net loss of $471 million following a net loss of $359 million in 2013. Walter Energy, Inc., and its affiliates sought Chapter 11 protection (Bankr. N.D. Ala. Lead Case No. 15-02741) in Birmingham, Alabama on July 15, 2015. The Debtors tapped Paul, Weiss, Rifkind, Wharton & Garrison as counsel; Bradley Arant Boult Cummings LLP, as co-counsel; Ogletree Deakins LLP, as labor and employment counsel; Maynard, Cooper & Gale, P.C., as special counsel; Blackstone Advisory Services, L.P., as investment banker; AlixPartners, LLP, as financial advisor, and Kurtzman Carson Consultants LLC, as claims and noticing agent. Walter Energy disclosed total assets of $5.2 billion and total debt of $5 billion as of March 31, 2015. J. Thomas Corbett, the bankruptcy administrator for the Northern District of Alabama, has appointed 13 members to the official committee of unsecured creditors, including Pension Benefit Guaranty Corp. and Nelson Brothers, LLC. ********* 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 ***