/raid1/www/Hosts/bankrupt/TCR

/raid1/www/Hosts/bankrupt/TCR_Public/160927.mbx T R O U B L E D C O M P A N Y R E P O R T E R Tuesday, September 27, 2016, Vol. 20, No. 270 Headlines 1553 POWERLINE: DOJ Watchdog Wants Ch. 11 Case Dismissed 8E LAUNDRY: U.S. Trustee Unable to Appoint Committee A & E TWO ASSOCIATES: Hires Sheleen Khan as Attorney A-K SUPPLY: Hires Steidl & Steinberg as Counsel ABC DENTISTRY: Taps Baker Botts as Counsel ABDULHAY ASSOCIATES: Voluntary Chapter 11 Case Summary ADAMIS PHARMACEUTICALS: Amends 4.4M Shares Resale Prospectus ALAMOS GOLD: S&P Raises Corporate Credit Rating to 'B+' ALCOA INC: Moody's Puts Ba1 CFR Under Review for Downgrade ALI SABERIOON: Sale Proceeds of Harness Creek To Fund Ch. 11 Plan ALLCORP INC: U.S. Trustee Unable to Appoint Committee ANATOLY DERIN: Unsecureds To Get 15% Under Amended Plan ANDY LOPES BUILDING: Hires Michael McAuliffe as Attorney ANK LLC: Court Orders Revision of Disclosure Statement ANTILLES CARPET: Disclosures OK'd; Plan Hearing on Oct. 12 AOG ENTERTAINMENT: Hires Royalty Review Council as Consultants ASDRUBAL MARTINEZ: Confirmation Hearing Set for Nov. 16 AVENUE C TENANTS: Plan Has 100% Recovery, Converts HDFC Into Coop AVITA ARTESIAN: Plan Confirmation Hearing Set for Oct. 13 AZIZ PETROLEUM: 2nd Amended DS Has Updates on Creditor Recoveries B&L EQUIPMENT: Creditor's Panel Taps Tiger Valuation as Appraiser BATTLE CREEK: Case Summary & 20 Largest Unsecured Creditors BROWN'S CHRISTIANWAY: U.S. Trustee Unable to Appoint Committee BUY WHOLESALE: Taps Houston Howell as Special Counsel C.H.I.R. CORPORATION: U.S. Trustee Unable to Appoint Committee CAESARS ENTERTAINMENT: Creditors in Talks to Patch $400M+ Hole CAESARS ENTERTAINMENT: Kleisner Subpoena Issue Sent to Ill. Court CAESARS ENTERTAINMENT: Talks Ongoing for Consensual Restructuring CANADIAN SOLAR: Fitch Lowers IDR to 'BB-'; Outlook Negative CAPE COD COMMERCIAL: MGCC Tries To Block Disclosures Approval CARL MERKLE: Unsecureds To Recoup 100% Under Plan CHARICE PHILLIPS: Unsecured Creditors To Get $1K Per Month CHINACODE INC: Court Authorizes Use of Cash Collateral CHOBANI GLOBAL: S&P Assigns 'B' CCR; Outlook Stable CJ HOLDINGS: Creditors' Panel Taps CMAG as Investment Banker COLLAVINO CONSTRUCTION: CCCI Unsecured Creditors to Recover 70% CONTINENTAL LIGHTING: Case Summary & 20 Top Unsecured Creditors CORE RESOURCE: Hires Fellers Snider as Special Counsel CORNERSTONE DENTISTRY: U.S. Trustee Unable to Appoint Committee CREATIVE FOODS: Hires Fornaro as Bankruptcy Counsel CRESCENT HAUS: Hires Arnold Elite as Real Estate Broker CROFCHICK REALTY: Ordered to Revise Disclosure Statement CROWN DRILLING: Involuntary Chapter 11 Case Summary CRYOPORT INC: Changes Fiscal Year End to Dec. 31 CRYOPORT INC: Extends Warrants Tender Offer Until Oct. 14 CRYOPORT INC: Stockholders Elect Five Directors CRYSTAL ENTERPRISES: Asks Permission to Use Cash Collateral D & D WARNER: Selling Shadow Lands Property to Fund Ch. 11 Plan DAVID PAUL PELCIC: Disclosures Okayed, Plan Hearing on Nov. 7 DELIVERY AGENT: Hires Epiq as Claims and Noticing Agent DENMARK MANAGEMENT: Case Summary & 20 Largest Unsecured Creditors DENMARK SERVICES: Case Summary & 20 Largest Unsecured Creditors DIVERSE ENERGY: Proposes Chapter 11 Liquidating Plan DOUBLE D & M: Plan Outline Okayed, Confirmation Hearing on Oct. 19 DPTOPCO LLC: Hires Keele & Associate as Counsel ENERGY FUTURE: Court OKs Luminant-Buckskin Claims Settlement ENERGY FUTURE: Court OKs Settlement with Texas Comptroller ENUMERAL BIOMEDICAL: Appoints Wael Fayad Chairman, Pres. and CEO ESTUDIO LEGAL: Disclosure Statement OK'd, Plan Hearing on Nov. 16 EXCELIUM MANAGEMENT: U.S. Trustee Unable to Appoint Committee FALCON GENOMICS: Hires Steidl & Steinberg as Counsel FANSTEEL INC: Court Allows Cash Collateral Use Through Sept. 28 FANSTEEL INC: U.S. Trustee Forms 9-Member Committee FLOYD INDUSTRIES: Wants to Use United Cumberland Cash Collateral FRANCIS MACHI, JR.: Lakewood Offers $153K for Pittsburgh Property FRENCH OPEN: Voluntary Chapter 11 Case Summary FRONTIER HOTELS: Hires James Jameson as Attorney FULTON STREET: Disclosures Okayed, Plan Hearing on Nov. 3 GATEWAY ENTERTAINMENT: Committee Seeks Ch. 11 Examiner Appointment GEI HOLDINGS: Hires Davis Law Center as Legal Counsel GKI INCORPORATED: Wants to Use First Midwest Bank Cash GLM DFW: $400,000 Sale to Give 10% Recovery for Unsec. Creditors GOLFSMITH INT'L: U.S. Trustee Forms 7-Member Committee GRACE GEMS: Disclosures Conditionally OK'd; Hearing on Oct. 20 GREAT BASIN: Had 1.76M Outstanding Common Shares as of Sept. 23 GUIDED THERAPEUTICS: Stockholders Elect Three Directors HAIN CELESTIAL: Receives Limited Waiver on Credit Facility HANCOCK FABRICS: Has PBGC Deal for Plan Pension Termination HANJIN SHIPPING: U.S. Judge Concerned with Speed of Restructuring HAROLD ROSBOTTOM: Files Disclosures for Modification of Plan HB WHITE: Seeks Approval of Plan at October 27 Creditors' Meeting HBCU PROPERTIES: Exit Plan to Pay Unsecured Creditors in Full HEALTH DIAGNOSTIC: Court Approves Settlement with LeClairRyan HEBREW HEALTH: Anne Cahill Kluetsch Named Patient Care Ombudsman HOMEJOY LLC: Disclosure Statement Hearing Set for Oct. 20 JASON LEON WINBORNE: Disclosures Okayed, Plan Hearing on Nov. 2 JORDAN CROSSING: Moody's Assigns Ba3 Improvement Bonds Rating JOSE LUIS CRESPO LORENZO: Plan to Give Some Dividend to Unsecureds KALOBIOS PHARMACEUTICALS: Incurs $12 Million Net Loss in Q2 KALOBIOS PHARMACEUTICALS: Incurs $5.42 Million Net Loss in Q1 KATHERINE MONTGOMERY: Disclosures OK'd; Plan Hearing on Oct. 19 KEITH GUERZON: Disclosures Okayed, Plan Hearing on Oct. 26 KENNETH MERIWETHER: Court Confirms Reorganization Plan KIP AND ANDREA: Unsecureds To Be Paid in Full Under Plan LEAR CORP: Moody's Withdraws Ba1 Corporate Family Rating LEON HALL: Selling Ford Excursion to Purchase Replacement Vehicle LIGHTSTREAM RESOURCES: Receives Initial Order for CCAA Protection LKN PROPERTIES: Hires Shulman Hodges as Bankruptcy Counsel LOUIS WELTMAN: Distribution to Unsecureds Limited to $300,000 LUIS BURGOS: Has Until Nov. 21 to File Opening Brief MAGNOLIA LANE: Changes Name to "Huntwicke Capital Group Inc." MARK CAREY COMEAUX: U.S. Trustee Opposes Approval of Plan Outline MEDITE CANCER: Default in Notes Raises Going Concern Doubt MESOBLAST LIMITED: PricewaterhouseCoopers Casts Going Concern Doubt MICHAEL EDWARD KELLY: Disclosure Statement Hearing Set for Oct. 19 MICROVISION INC: Signs Asset Purchase Agreement with Lincoln Park MID CITY TOWER: Creditor Wants Case Converted to Ch. 7 MILLENNIUM HOME: Pamela Rose Appointed PCO MONAKER GROUP: Has Offering of 2 Million Shares NAUTILUS FUNDING: Can Use $2.3K Cash Collateral on Interim Basis NEW YORK LIGHT: Unsecureds Slated for 7.6% Recovery in Plan NORTHWEST MANAGEMENT: Files Plan to Exit Chapter 11 Protection ORANGE PEEL: U.S. Trustee Unable to Appoint Committee PARAGON OFFSHORE: Paul, Young Represent Ad Hoc Group of Noteholders PARC ENGLAND: Secured Creditor Tries To Block Plan Outline OK PATRICK COX: Appeal in Divorce Case Stayed Amid Bankruptcy PAUL ANTHONY LOBIANCO: Unsecureds Recoup 100% Under Plan PAULA SUE WENSTROM: Unsecureds To Get Paid in Full Under Plan PC ACQUISITION: Case Summary & 17 Largest Unsecured Creditors PIRTS INC: U.S. Trustee Unable to Appoint Committee PUPI'S MANAGEMENT: U.S. Trustee Unable to Appoint Committee PUSHMATAHA COUNTY: Chapter 9 Case Summary & Top Unsec. Creditors QUANTUM MATERIALS: Incurs $6.10 Million Net Loss in Fiscal 2016 QUANTUM MATERIALS: May Issue 15M Shares Under Compensation Plan QUANTUM MATERIALS: Stephen Squires Held 11.8% Stake as of Aug. 14 RANGE RESOURCES: S&P Affirms 'BB+' CCR & Revises Outlook to Stable REDIGI INC: U.S. Trustee Unable to Appoint Committee REGAL ENTERTAINMENT: Fitch Affirms 'B+' IDR, Outlook Stable RICEBRAN TECHNOLOGIES: Files Aribitration Case vs. Former CEO ROBERT ALLEN MIXSON: Unsecureds To Recoup 10% Under Plan ROYAL ONE: $111,800 in Assets to Pay Claims in Full ROYCE MCBRIDE: Unsecured Creditors Slated for 5% or 15% Recovery S&S SCREW MACHINE: Case Summary & 19 Largest Unsecured Creditors S-METALS FL: Disclosure Statement Hearing on Nov. 7 SAEXPLORATION HOLDINGS: May Issue 1M Shares Under Incentive Plan SANDRIDGE ENERGY: Ad Hoc Comm. Files Appeal on Plan Confirmation SCARBOROUGH & HARGETT: Plan Confirmation Hearing Set for Oct. 18 SEQUA CORP: S&P Lowers CCR to 'CCC' on Upcoming Debt Maturities SEQUENOM INC: Suspending Filing of Reports with SEC SETAI 3509: U.S. Trustee Unable to Appoint Committee SMILE ARTIST: Hires Frierson Sola as Accountant SOUTHERN SEASON: Iron Horse to Auction Assets on Sept. 28 SPANISH BROADCASTING: Has Until 2017 to Regain Nasdaq Compliance SPECTRASCIENCE INC: Revised Articles of Incorporation Filed SPEEDYSIGNS.COM INC: Disclosures Okayed, Plan Hearing on Oct. 31 ST. JOHN/BATTLE: Case Summary & 20 Largest Unsecured Creditors SUNEDISON INC: Vivint's Bid to Prosecute Chancery Court Suit Denied TARGA RESOURCES: Moody's Assigns Ba3 Senior Unsecured Notes Rating TARGA RESOURCES: S&P Rates Proposed $800MM Sr. Unsec. Notes 'BB-' TATUADO HOSPITALITY: Disclosures OK'd; Plan Hearing on Oct. 27 TECHPRECISION CORP: Extends Stockholder Proposal Deadline TEXAS PELLETS: Hires Ordinary Course Professionals TIM'S TRUCKING: Files Plan to Exit Chapter 11 Protection TLC HEALTH: Decrease in MedSurg Unit Census, 13th Report PCO Says TOWN SPORTS: PW Partners Reports 13.2% Stake as of Sept. 21 TRASK DEVELOPERS: Confirmation Hearing Set for Nov. 17 TRINITY TEMPLE: Hires Peachstate Financial as Mortgage Broker TWENTYEIGHTY INC: S&P Affirms 'CC' Rating on Senior Secured Debt UCI HOLDINGS: Seeks Exclusivity Extension Thru Dec. 29 ULTRAPETROL (BAHAMAS): Default on Interest Payment on Senior Notes VERENGO INC: Files for Bankruptcy, to Sell Business to Lender VERENGO INC: Hires Upshot Services as Claims and Noticing Agent VERENGO INC: Obtains $2-Mil. DIP Commitment from Crius Solar WCI COMMUNITIES: S&P Puts 'B' CCR on CreditWatch Positive WINDMILL RESERVE: U.S. Trustee Unable to Appoint Committee WINSLOW CROCKER: Unsecured Creditors to Get $36K Under Ch. 11 Plan YELLOW CAB: Committee Plan Estimates Secured Claims to Total $452K YWCA OF ESSEX: Disclosure Statement OK'd, Plan Hearing on Oct. 18 Z BEST RENTALS: Case Summary & 20 Largest Unsecured Creditors [*] HWA Bankruptcy Attorneys Named in Best Lawyers of America List [^] Large Companies with Insolvent Balance Sheet ********* 1553 POWERLINE: DOJ Watchdog Wants Ch. 11 Case Dismissed -------------------------------------------------------- Guy G. Gebhardt, Acting United States Trustee, asks the United States Bankruptcy Court for the Southern District of Florida to convert or dismiss the Chapter 11 case of 1553 Powerline Realty, LLC, and, in the alternative, moves for the appointment of a Chapter 11 Trustee. The bankruptcy court held that an order for the appointment of a trustee is mandatory if the Court finds either cause exists or that the appointment is in the interest of the parties. The U.S. Trustee's Motion stated that the Debtor's failure to timely file monthly operating reports (MORs) and the Debtor's failure to move the case forward to confirmation could demonstrate a substantial or continuing loss to or diminution of the estate and the absence of a reasonable likelihood of rehabilitation pursuant to Section 1112(b)(4)(A). In addition, the failure to timely file MORs demonstrates the unexcused failure to satisfy timely any filing or reporting requirement established pursuant to Section 1112(b)(4)(F) and the failure of the Debtor to remain current on the payment of United States Trustee Fees constitutes the failure to pay any fees or charges required under chapter 123 of title 28 pursuant to Section 1112(b)(4)(K). As evidenced by the ongoing circumstances, the U.S. Trustee, therefore, requested the Court to enter an order dismissing the Chapter 11 case, or converting the case to a case under Chapter 7; or, in the alternative, enter an order mandating the appointment of a Chapter 11 Trustee; and for such other and further relief as may seem just and proper, including requiring the Debtor to immediately pay to the United States Trustee all United States Trustee fees due. 1553 Powerline Realty, LLC, filed a Chapter 11 petition (Bankr. S.D. Fla. Case No. 15-31370) on December 8, 2015, and is represented by Zach B Shelomith, Esq., at Leiderman Shelomith, P.A. 8E LAUNDRY: U.S. Trustee Unable to Appoint Committee ---------------------------------------------------- The Office of the U.S. Trustee on Sept. 23 disclosed in a court filing that no official committee of unsecured creditors has been appointed in the Chapter 11 case of 8E Laundry, Inc. 8E Laundry, Inc., filed a chapter 11 petition (Bankr. D. Ariz. Case No. 0:16-BK-10138-BMW) on September 1, 2016. The Debtor is represented by Thomas H. Allen, Esq., and Philip J. Giles, Esq., at Allen Barnes & Jones, PLC. The Debtor owns and operates a laundromat located in Yuma, Arizona. The Debtor leases the commercial property located at 3325 S. Avenue 8E, Suite 106, Yuma, Arizona to operate its business. A & E TWO ASSOCIATES: Hires Sheleen Khan as Attorney ---------------------------------------------------- A & E Two Associates, LLC, seeks authority from the U.S. Bankruptcy Court for the Southern District of Florida to employ the Law Office of Sheleen G. Khan, P.A. as attorney to the Debtor. A & E Two Associates requires Khan to: a. give advice to the Debtor with respect to its powers and duties as a debtor-in-possession and the continued management of its business operations; b. advise the Debtor with respect to its responsibilities in complying with the U.S. Trustee's Operating Guidelines and Reporting Requirements and with the rules of the court; c. prepare motions, pleadings, orders, applications, adversary proceedings, and other legal documents necessary in the administration of the case; d. protect the interest of the Debtor in all matters pending before the court; and e. represent the Debtor in negotiation with its creditors in the preparation of a plan. Sheleen G. Khan, member of the law firm of Law Office of Sheleen G. Khan, P.A., 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 Debtor and its estates. Khan can be reached at: Sheleen G. Khan, Esq. LAW OFFICE OF SHELEEN G. KHAN, P.A. 13499 Biscayne Boulevard, Suite T2 Miami, FL 33181 Tel: (305) 454-9126 Fax: (305) 356-7099 E-mail: sgklaw@gmail.com About A & E Two Associates A & E Two Associates LLC, based in Miami, FL, filed a Chapter 11 petition (Bankr. S.D. Fla. Case No. 16-21803) on August 26, 2016. The Hon. Robert A Mark presides over the case. Sheleen G Khan, Esq., at Law Office of Sheleen G. Khan P.A., serves as bankruptcy counsel. In its petition, the Debtor estimated $0 to $50,000 in assets and $1 million to $10 million in liabilities. No official committee of unsecured creditors has been appointed in the case. A-K SUPPLY: Hires Steidl & Steinberg as Counsel ----------------------------------------------- A-K Supply Company, Inc., seeks authority from the U.S. Bankruptcy Court for the Western District of Pennsylvania to employ Steidl & Steinberg, P.C. as counsel to the Debtor. A-K Supply requires Steidl & Steinberg to represent the Debtor in the administration of the estate in the bankruptcy proceedings. Steidl & Steinberg will be paid at the hourly rate of $300, and a retainer in the amount of $5,000, plus filing fee of $1,717. Steidl & Steinberg will also be reimbursed for reasonable out-of-pocket expenses incurred. Christopher M. Frye, member of the law firm of Steidl & Steinberg, P.C., assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) and 327 of the Bankruptcy Code and does not represent any interest adverse to the Debtor and its estates. Steidl & Steinberg can be reached at: Christopher M. Frye, Esq. Steidl & Steinberg, P.C. Suite 2828 The Gulf Tower 707 Grant Street Pittsburgh, PA 15219 Tel: (412) 391-8000 E-mail: Chris.frye@steidl-steinberg.com About A-K Supply A-K Supply Company, Inc., filed a Chapter 11 bankruptcy petition (Bankr. W.D. Pa. Case No. 16-23349) on September 8, 2016, disclosing under $1 million in both assets and liabilities. The Debtor is represented by Christopher M. Frye, Esq., at Steidl & Steinberg. No official committee of unsecured creditors has been appointed in the case. ABC DENTISTRY: Taps Baker Botts as Counsel ------------------------------------------ ABC Dentistry, P.A., and its debtor affiliates seek authorization from the U.S. Bankruptcy Court for the Southern District of Texas to employ Baker Botts L.L.P. as counsel, nunc pro tunc to the Petition Date. The Debtors require Baker Botts to: (a) advise the Debtors with respect to their powers and duties as Debtors in possession in the continued management and operation of their business and properties; (b) advise and consult on the conduct of the Chapter 11 cases, including all of the legal and administrative requirements of operating in Chapter 11; (c) attend meetings and negotiations with the representatives of the creditors and other parties in interest; (d) take all necessary actions to protect and preserve the Debtors' estates, including prosecuting actions on the Debtors' behalf, defending any actions commenced against the Debtors, and representing the Debtors in negotiations concerning litigation in which the Debtors are involved, including objections to claims filed against the Debtors' estates; (e) prepare pleadings in connection with the Chapter 11 cases, including motions, applications, answers, orders, reports, and papers necessary or otherwise beneficial to the administration of the Debtors' estates; (f) represent the Debtors in connection with obtaining authority to continue using cash collateral and/or postpetition financing; (g) advise the Debtors in connection with any potential sale of assets; (h) appear before the Court, any appellate courts, or other courts such as state courts, to represent the interests of the Debtors' estates, including any representation related to Adversary Proceeding No. 16-03193; (i) take any necessary action on behalf of the Debtors to negotiate, prepare, and obtain approval of a disclosure statement and confirmation of a chapter 11 plan and all documents related; and, (j) perform all other necessary legal services for the Debtors in connection with the prosecution of the chapter 11 cases, including: (i) analyzing the Debtors' leases and contracts and the assumption and assignment or rejection; (ii) analyzing the validity of liens against the Debtors; and (iii) advising the Debtors on corporate and litigation matters. Baker Botts will be paid at these hourly rates: Partners $850-$1,300 Special Counsel $550-$825 Associates $425-$725 Paraprofessionals $310-$335 Thomas R. Philips $950 Omar J. Alaniz $675 Chad Barton $350 Patrick Tatum $350 Baker Botts will also be reimbursed for reasonable out-of-pocket expenses incurred. The Debtors retained Baker Botts on June 13, 2016 to represent them in defense of the claims brought by Saeed Rohi, D.D.S., ex rel. State, in the 281st District Court of Harris County, Texas. The ABC Defendants paid a $50,000 retainer to Baker Botts on June 20, 2016. Baker Botts issued its first invoice for the matter in the amount of $62,111.63 on July 12, 2016. Baker Botts applied the $50,000 retainer and the ABC Defendants paid the difference of $12,111.63 on July 28, 2016. On August 15, 2016, Baker Botts issued an invoice to the ABC Defendants in the amount of $56,191.21. Baker Botts generated three more invoices for fees and expenses in connection with the Dr. Rohi litigation prior the Debtor's bankruptcy filing totaling $53,364.63. The ABC Defendants delivered checks totaling $113,790.84 on August 25,2016 to cover these invoices, including estimated fees through the bankruptcy filing. After paying all outstanding invoices for the Dr. Rohi litigation prior the bankruptcy filing, $4,235.00 remained unapplied. The ABC Defendants also engaged Baker Botts on August 19, 2016, regarding potential bankruptcy cases for various of the ABC Defendants. In connection with this specific engagement, the ABC Defendants submitted an advanced payment of $75,000.00 to Baker Botts. Prior to the bankruptcy filing, Baker Botts incurred $67,099.59 in fees and expenses in connection with preparation for the bankruptcy filings. The $75,000.00 advanced payment covered these fees and expenses. Prior to the bankruptcy filing, Baker Botts transferred the remaining $7,900.41, as well as the $4,235.00 left over from application of payments for the Dr. Rohi litigation, to Baker Botts trust account. Thus, Baker Botts is currently holding $12,135.41 as of the petition date as a retainer for post-petition services. Omar J. Alaniz, partner of Baker Botts, 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. Baker Botts can be reached at: Omar J. Alaniz, Esq. BAKER BOTTS L.L.P. 2001 Ross Avenue Dallas, TX 75201 Tel.: 214/953-6593 Fax: 214/661-4593 Email: omar.alaniz@bakerbotts.com About ABC Dentistry ABC Dentistry, P.A., ABC Dentistry Old Spanish Trail, P.L.L.C., and ABC Dentistry West Orem, P.L.L.C., are part of a family of clinics doing business as ABC Dental in the Houston area. The Debtors, which employ approximately 40 people, provide a variety of dental and orthodontic services to Medicaid patients. On Aug. 26, 2016, each of the Debtors filed a voluntary petition under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 16-34221). The Debtors estimate assets in the range of $100,000 to $500,000 and liabilities of up to $50 million as of the bankruptcy filing. The Debtors have hired Baker Botts L.L.P. as their counsel. ABDULHAY ASSOCIATES: Voluntary Chapter 11 Case Summary ------------------------------------------------------ Debtor: Abdulhay Associates, L.P. 2724 Rickenbacker Court Orefield, PA 18069 Case No.: 16-16713 Nature of Business: Single Asset Real Estate Chapter 11 Petition Date: September 23, 2016 Court: United States Bankruptcy Court Eastern District of Pennsylvania (Reading) Judge: Hon. Richard E. Fehling Debtor's Counsel: Albert A. Ciardi, III, Esq. CIARDI CIARDI & ASTIN, P.C. One Commerce Square 2005 Market Street, Suite 3500 Philadelphia, PA 19103 Tel: (215) 557-3550 Fax: 215-557-3551 E-mail: aciardi@ciardilaw.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Dr. Gazi Abdulhay, general partner of Abdulhay Associates, L.P. The Debtor did not include a list of its largest unsecured creditors when it filed the petition. A full-text copy of the petition is available for free at: http://bankrupt.com/misc/paeb16-16713.pdf ADAMIS PHARMACEUTICALS: Amends 4.4M Shares Resale Prospectus ------------------------------------------------------------ Adamis Pharmaceuticals Corporation filed with the Securities and Exchange Commission an amended Form S-3 registration statement relating to the resale or other disposition from time to time of the following securities to be offered by Funds advised by Sio Capital Management, LLC, Philco Investments, Ltd., Walleye Trading LLC and Bear State Bank, N.A, including their transferees, pledgees, donees or successors: (i) up to 1,724,137 shares of the Company's common stock issuable upon the conversion of previously issued Series A- 2 Convertible Preferred Stock; (ii) up to 1,724,137 shares of the Company's common stock that are issuable upon the exercise of warrants issued to the initial holders of shares of Series A-2 Preferred to purchase shares of the Company's common stock or Series A-2 Preferred; (iii) up to 1,724,137 Warrants; and (iv) up to 1,000,000 shares of the Company's common stock issuable upon the exercise of a warrant, to the extent exercisable, issued to one of the selling stockholders to purchase shares of the Company's common stock. The Company amended the Registration Statement to delay its effective date. The Warrants have an exercise price of $2.90 per share, and may be exercised during the period ending July 11, 2021. The BSB Warrant has an exercise price of $0.0001 per share and is exercisable in the circumstances described in the BSB Warrant. The selling stockholders may, from time to time, sell, transfer, or otherwise dispose of securities on any stock exchange on which the securities may be listed, market or trading facility on which the securities may be traded or in private transactions. These dispositions may be at fixed prices, at prevailing market prices at the time of sale, at prices related to the prevailing market price, at varying prices determined at the time of sale, or at negotiated prices. The Company is not offering any shares of our common stock for sale under this prospectus. The Company will not receive any of the proceeds from the sale of common stock or the Warrants by the selling stockholders. However, the Company will generate proceeds in the event of a cash exercise of the Warrants by the selling stockholders. All expenses of registration incurred in connection with this offering are being borne by the Company. All selling and other expenses incurred by the selling stockholders will be borne by the selling stockholders. The Company's common stock is quoted on the Nasdaq Capital Market under the symbol "ADMP." On Sept. 21, 2016, the last reported sale price of the Company's common stock as reported on the Nasdaq Capital Market was $3.31 per share. A full-text copy of the Form S-3/A is available for free at: https://is.gd/ZAi083 About Adamis San Diego, Calif.-based Adamis Pharmaceuticals Corporation (OTC QB: ADMP) is a biopharmaceutical company engaged in the development and commercialization of specialty pharmaceutical and biotechnology products in the therapeutic areas of respiratory disease, allergy, oncology and immunology. Adamis reported a net loss of $13.6 million on $0 of revenue for the year ended Dec. 31, 2015, compared to a net loss of $9.31 million on $0 of revenue for the year ended Dec. 31, 2014. As of June 30, 2016, Adamis had $29.4 million in total assets, $14.3 million in total liabilities, and $15.0 million in total stockholders' equity. ALAMOS GOLD: S&P Raises Corporate Credit Rating to 'B+' ------------------------------------------------------- S&P Global Ratings said it raised its long-term corporate credit rating on Toronto-based Alamos Gold Inc. to 'B+' from 'B'. At the same time, S&P Global Ratings raised its issue-level rating on the company's senior secured notes to 'BB-' from 'B+'. The recovery rating of '2' is unchanged. S&P Global Ratings also revised its financial risk profile on the company to significant from aggressive. "The upgrade primarily reflects the improved prospects for Alamos's earnings and cash flow generation, following higher year-to-date gold prices and the upward revision to our price assumptions through 2018," said S&P Global Ratings credit analyst Jarrett Bilous. S&P estimates the company will generate an adjusted debt-to-EBITDA ratio in the low-2x area in 2016 and 2017, which is well below S&P's previous upgrade trigger. Based on the strength of Alamos' prospective credit measures and its cash position, S&P believes there is a sufficient cushion to manage the risks associated with gold price volatility and high estimated development-related capital expenditures at the current rating. S&P now considers Alamos' financial risk assessment as significant, which led to the upgrade. S&P estimates Alamos will generate growth in earnings and cash flow above S&P's previous expectations in 2016 and 2017. The revision to S&P's gold price assumptions over this period, as well as modest improvement in the company's cash cost position (which benefits from relative strength in the U.S. dollar because a large share of its costs are in Canadian dollars and Mexican pesos) are key drivers of the improvement. Based on relatively stable adjusted debt levels (which are not net of cash), S&P views Alamos' estimated core credit ratios -- including adjusted debt-to-EBITDA noted above, and funds from operations (FFO)-to-debt well above 30% -- as strong for the company's financial risk profile. The stable outlook primarily reflects S&P's expectation that Alamos will generate adjusted debt-to-EBITDA ratio in the low-2x area over the next 12 months amid a period of high capital expenditures for development projects. S&P could lower the rating if it believes the company will generate an adjusted debt-to-EBITDA ratio that exceeds 3x over the next 12 months and FFO-to-debt below 30%. In this scenario, S&P would expect gold prices to decline by more than US$100/oz below our price assumption over this period, or Alamos to experience operational disruptions that lead to cash costs materially above S&P's estimates. Although unlikely over the next 12 months, S&P would upgrade the company if it considers it to have a weak business risk profile. In S&P's view, this could occur if Alamos materially reduced its operating costs at or below average industry levels and expanded its operating breadth. S&P could also raise the ratings if it believes the company can generate an adjusted debt-to-EBITDA ratio sustainably below 2x. ALCOA INC: Moody's Puts Ba1 CFR Under Review for Downgrade ---------------------------------------------------------- Moody's Investors Service placed Alcoa Inc.'s Ba1 Corporate Family Rating (CFR), Ba1-PD Probability of default rating and the Ba1 rating on the company's senior unsecured debt and industrial revenue bonds under review for downgrade. The ratings at Alcoa Nederland Holding B.V. (CFR Ba3) are unchanged and not part of the review. The speculative grade liquidity rating is unchanged at SGL-1. On Review for Downgrade: Issuer: Alcoa Inc. -- Probability of Default Rating, Placed on Review for Downgrade, currently Ba1-PD -- Corporate Family Rating, Placed on Review for Downgrade, currently Ba1 -- Senior Unsecured Shelf due 2017, Placed on Review for Downgrade, currently (P)Ba1 -- Pref. Stock Preferred Stock, Placed on Review for Downgrade, currently Ba2 (LGD6) -- Senior Unsecured Medium-Term Note Program, Placed on Review for Downgrade, currently (P)Ba1 -- Senior Unsecured Regular Bond/Debenture, Placed on Review for Downgrade, currently Ba1 (LGD4) Outlook Actions: Issuer: Alcoa Inc. -- Outlook, Changed To Rating Under Review From Negative On Review for Downgrade: Issuer: Chelan County Development Corporation, WA -- Backed Senior Unsecured Revenue Bonds, Placed on Review for Downgrade, currently Ba1 (LGD4) Issuer: Iowa Finance Authority -- Backed Senior Unsecured Revenue Bonds, Placed on Review for Downgrade, currently Ba1 (LGD4) RATINGS RATIONALE The review reflects our expectation for weaker debt protection metrics and increased leverage following the separation of the company into two publicly traded companies, with Alcoa Inc. changing its name to Arconic, which will assume existing Alcoa bonds as the surviving entity. Arconic will include the value add components of the business including the existing Global Rolled Products, (excluding the Warrick, Indiana rolling mill and the 25.1% interest in a joint venture with Saudi Arabian Mining Company (Ma'aden), Engineered Products and Solutions and Transportation and Construction Solutions segments. The upstream business will be spun off and Alcoa Upstream Corporation (Alcoa Corp) will hold the bauxite, alumina, aluminum, energy and cast products businesses, as well as the Warrick, Indiana mill and the Ma'aden interest. Alcoa Corp's wholly owned subsidiary, Alcoa Nederland Holding B.V. (Alcoa Nederland) is currently in the market with a $1.25 billion debt offering. Proceeds of the offering, which will initially be placed in an escrow account, will be used to fund the transfer of certain assets in connection with the separation, with the balance retained for general corporate purposes. Pro-forma for Alcoa's debt levels at June 30, 2016, and its performance in the segments that will comprise Arconic, and assuming that Alcoa Nederland raises $1.25 billion, we estimate that leverage could be in the range of 4x to 4.75x. (including “Moody's standard adjustments), although we note that debt levels at time of separation could be different than what has been used in these assumptions.” Moody's said. The review will focus on the final capital structure and debt levels assumed by Arconic as well as the outlook for the key markets served. Arconic has strong positions in a number of key end markets, including automotive and aerospace. However, while these markets remain strong, growth has slowed. The principal methodology used in these ratings was Global Mining Industry published in August 2014. Headquartered in New York, NY, Alcoa is major player in the lightweight metals and materials industries. The company has continued to focus on its strategic objective of providing higher value added products and solutions, while at the same time reducing its cost basis in the more commodity oriented business, which includes the bauxite, alumina and aluminum operations. Alcoa generated revenues of $21.1 billion for the twelve months ended June 30, 2016. ALI SABERIOON: Sale Proceeds of Harness Creek To Fund Ch. 11 Plan ----------------------------------------------------------------- Ali A. Saberioon filed with the U.S. Bankruptcy Court for the Southern District of Texas a disclosure statement in support of the Debtor's Chapter 11 plan of reorganization dated Sept. 2, 2016. Under the Plan, allowed Class 8 Unsecured Claims are impaired. Each holder of an Allowed Unsecured Claim will be paid its allowed claim, up to the full amount of that allowed claim, in cash, with funds voluntarily contributed by the Reorganized Debtor obtained from the net proceeds of the Alvand interests transaction or from the sale of the Harness Creek exempt property, if any, after payment in full of Classes 5, 6, and 7. The payments will be made and due at the closing of the Alvand Interests Transaction or closing of the Harness Creek Exempt Property. The outside date of the closing of the Harness Creek Exempt Property and the Alvand Interests Transaction will be 24 months from the Effective Date. In the event the net proceeds remaining from the Alvand Interests Transaction or the sale of the Harness Creek Exempt Property are not sufficient to pay Classes 5, 6, and 7 in full, holders of Allowed Unsecured Claims will receive, in full and final satisfaction and discharge of their claims, pro rata quarterly plan payments from: (i) the Reorganized Debtor's net disposable income, if any, with payments commencing upon the 25th month following the Effective Date and continuing through the 60th month following the Effective Date; and (ii) net proceeds of any avoidance actions and causes of action (except the causes of action against holders of Class 9 claims), which proceeds will be distributed quarterly following receipt with the first distribution due in the 25th month following the Effective Date. Funds available from the Harness Creek Exempt Property are voluntarily contributed by the Debtor and are not available: (i) under any other Plan proposed by any other person, or (ii) in any liquidation under Chapter 7. No Class 8 Creditor will have the right to force a sale of the Harness Creek Exempt Property. The Debtor reserves the right to withdraw this provision at any time prior to commencement of the Confirmation Hearing. After the Effective Date, the Reorganized Debtor will continue to operate his consulting business through Sabco Energy, LLC. Additionally, the Reorganized Debtor may, from time to time, receive distributions and dividends on account of his interest in Alvand Interests, LLC, Sabco Enterprises, Inc., Sabco Oil, LLC, Sabco, LLC, and Saberioon & Ramesh Holdings Company. After payment of amounts reasonably necessary for the maintenance and support of the Reorganized Debtor and any dependents of the Debtor, and for charitable contributions, all monthly income received by the Debtor from these sources will be distributed to holders of allowed claims pursuant to the provisions of the Plan. The Debtor will continue to cause Alvand Properties, LLC, to market and sell the Wynden Property to a buyer. The Debtor will cause the net proceeds from Alvand Properties to be distributed pursuant to the provisions of the Plan. The Debtor, his daughter, and son each hold membership interests in Alvand Interests, LLC. The Debtor will continue to market and sell the assets of Alvand Interests for a suitable transaction. There are other members with interests in Alvand Interests. In the event a suitable transaction is identified, and transaction closes, the Debtor will cause the net proceeds attributable to his interests, his daughter's interests and his son's interests to be distributed pursuant to the provisions of the Plan. Before and after the Effective Date, the Debtor and the Reorganized Debtor, respectively, will market and attempt to sell the Harness Creek Exempt Property. The Debtor will cause the net proceeds from the Harness Creek Exempt Property to be distributed pursuant to the provisions of the Plan. Any excess funds remaining from the sale of the Harness Creek Exempt Property after distributions are made pursuant to the Plan will be and remain the Debtor's exempt property. Funds available from the Harness Creek Exempt Property are voluntarily contributed by the Debtor and are not available: (i) under any other Plan proposed by any other person, or (ii) in any liquidation under Chapter 7. The Disclosure Statement is available at: http://bankrupt.com/misc/txsb15-35160-142.pdf The Plan was filed by the Debtor's counsel: Kell C. Mercer, Esq. KELL C. MERCER, P.C. 1602 E. Cesar Chavez Street Austin, Texas 78702 Tel: (512) 627-3512 Fax: (512) 597-0767 E-mail: kell.mercer@mercer-law-pc.com Ali A. Saberioon is an individual residing in Houston, Harris County, Texas. He is a petroleum engineer, and has been successfully engaged in the oil and gas industry for over 30 years. The Debtor owns interests in several oil and gas companies, including Alvand Interests, LLC, Sabco Energy, LLC, Sabco Enterprises, Inc., Sabco Oil, LLC, Sabco, LLC, and Saberioon & Ramesh Holdings Company. The Debtor filed for Chapter 11 bankruptcy protection (Bankr. S.D. Tex. Case No. 15-35160). This case started when an involuntary petition under Chapter 7 of Title 11 of the U.S. Code was filed on Oct. 2, 2015. The original petitioning creditors include Green Bank, N.A., Texas Capital Bank, N.A., and Mostafa Alavi. The Bank of River Oaks later joined as a petitioning creditor. The Debtor was represented as an alleged debtor by Matthew Okin and George Nino of Okin & Adams, LLC. William West was appointed as an examiner after the Petition Date. An agreed court order on the motion for entry of and court order for relief was entered on May 5, 2016. Thereafter, the Debtor moved to convert the case to one under Chapter 11. On May 6, 2016, the Court entered its order converting the case to one under Chapter 11. The Debtor remains a debtor-in-possession. ALLCORP INC: U.S. Trustee Unable to Appoint Committee ----------------------------------------------------- The Office of the U.S. Trustee on Sept. 23 disclosed in a court filing that no official committee of unsecured creditors has been appointed in the Chapter 11 case of Allcorp, Inc. Allcorp, Inc., based in Little Rock, AR, filed a Chapter 11 petition (Bankr. E.D. Ark. Case No. 16-13943) on July 27, 2016. The Hon. Phyllis M. Jones presides over the case. Stanley V. Bond, Esq., at Bond Law Office, as bankruptcy counsel. In its petition, the Debtor estimated $1 million to $10 million in assets and $1 million to $10 million in liabilities. The petition was signed by Alexander P. Golden, IV, president. ANATOLY DERIN: Unsecureds To Get 15% Under Amended Plan ------------------------------------------------------- Anatoly Derin filed with the U.S. Bankruptcy Court for the Eastern District of New York a second amended disclosure statement describing the Debtor's first amended Chapter 11 plan of reorganization. The Plan offers general unsecured creditors a pro rated payment of 15% of the total amount of unsecured debt over a period of 60 months. Class IV Unsecured Claim will consist of the claims of general unsecured creditors in the Debtor's case totaling approximately $38,776.86. The Plan will be financed from income generated from the Debtor's self-employment. The Second Amended Disclosure Statement is available at: http://bankrupt.com/misc/nyeb15-41495-52.pdf As reported by the Troubled Company Reporter on Aug. 1, 2016, the Debtor filed a Plan which proposes to pay general unsecured creditors 15% of their claims in 60 equal monthly installments effective 30 days after the plan takes effect. The Plan will be funded through the Debtor's own income. About Anatoly Derin Anatoly Derin, an IT specialist and resident of Brooklyn, New York, sought protection under Chapter 11 of the Bankruptcy Code (Bankr. E.D.N.Y. Case No. 15-41495) on April 3, 2015. The Debtor is represented by Alla Kachan, Esq. ANDY LOPES BUILDING: Hires Michael McAuliffe as Attorney -------------------------------------------------------- Andy Lopes Building Corp., asks for permission from the Hon. Robert D. Drain of the U.S. Bankruptcy Court for the Southern District of New York to employ the Law Office of Michael G. McAuliffe as attorney. The Debtor requires the McAuliffe firm to: (a) assist the Debtor in preparing and filing schedules, statements, monthly financial statements, and other necessary and appropriate documents; (b) prepare and file, on behalf of the Debtor, all motions, applications, documents in connections with adversary proceedings, and proposed orders or other legal papers; (c) appear at all appropriate meetings and before any appropriate forum in order to represent and protect the interests of the Debtor and the Estate herein; (d) explain to the Debtor its responsibilities in a case under Chapter 11, and ensuring insofar as practicable that it complies with its responsibilities; (e) represent the Debtor in its negotiations with secured and unsecured creditors, and Committees who may be appointed in the case; (f) assist the Debtor in formulating a plan of reorganization and disclosure statement; and (g) perform other further legal services for the Debtor which may be necessary herein. The McAuliffe firm will be paid at these hourly rates: Members $350 Paralegals/Legal Assistants $95 The McAuliffe firm will also be reimbursed for reasonable out-of-pocket expenses incurred. The McAuliffe firm received a retainer of $10,000 from the Debtor, inclusive of the $1,717 for the court filing fee. Michael G. McAuliffe, principal attorney of the McAuliffe firm, 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 Debtor and its estate. The McAuliffe can be reached at: Michael G. McAuliffe, Esq. LAW OFFICE OF MICHAEL G. McAuliffe, ESQ. 68 South Service Road, Suite 100 Melville, NY 11747 Tel: (631) 465-0044 Fax: (631) 465-0045 E-mail: mgmlaw@optonline.net About Andy Lopes Building Andy Lopes Building Corp., based in Elmsford, N.Y., filed a Chapter 11 petition (Bankr. S.D.N.Y. Case No. 16-23134) on August 19, 2016. The Hon. Robert D. Drain presides over the case. Michael G. McAuliffe, Esq., serves as bankruptcy counsel. In its petition, the Debtor declared $1.03 million in total assets and $1.78 million in total liabilities. The petition was signed by Adriano Lopes, president. ANK LLC: Court Orders Revision of Disclosure Statement ------------------------------------------------------ A U.S. bankruptcy judge has denied the disclosure statement, which explains ANK, LLC's proposed plan to exit Chapter 11 protection. In an order issued Sept. 15, Judge Robert Gordon of the U.S. Bankruptcy Court for the District of Maryland said the disclosure statement "lacks adequate information" and must be amended. "The disclosure statement's core failing is that it provides only a superficial treatment of the debtor's affairs and is woefully lacking in both financial and narrative detail," the judge said. Judge Gordon further said that the disclosure statement also does not explain the reasons behind certain provisions that could result in the denial of confirmation of the plan. The bankruptcy judge ordered ANK to file an amended disclosure statement within 90 days from September 15. A copy of the court order is available for free at https://is.gd/jiXDIE ANK is represented by: Catherine Keller Hopkin, Esq. Tydings & Rosenberg, LLP 100 E. Pratt Street, 26th Floor Baltimore, MD 21202 Tel: (410) 752-9768 Email: chopkin@tydingslaw.com About ANK LLC ANK LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Md. Case No. 15-27357) on December 17, 2015. The petition was signed by Brenda J. Faulk, sole and managing member. The case is assigned to Judge Robert A. Gordon. At the time of the filing, the Debtor estimated its assets and debts at $1 million to $10 million. ANTILLES CARPET: Disclosures OK'd; Plan Hearing on Oct. 12 ---------------------------------------------------------- The Hon. Brian K. Tester of the U.S. Bankruptcy Court for the District of Puerto Rico has approved the disclosure statement detailing Antilles Carpet, Inc.'s Chapter 11 plan. A hearing for the consideration of confirmation of the Plan will be held on Oct. 12, 2016, at 9:00 a.m. Objections to the confirmation of the Plan will be filed on or before seven days prior to the date of the hearing on confirmation of the Plan. Objections to claims must be filed prior to the hearing on confirmation. The Debtor will include in its objection to claim a notice that if no response to the objection is filed within 30 days. The Debtor will file with the Court a statement setting forth compliance with each requirement in Section 1129, the acceptances and rejections, and the computation of the same, within seven working days before the hearing on confirmation. About Antilles Carpet Antilles Carpet, Inc., sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. P.R. Case No. 16-01724) on March 3, 2016. The petition was signed by John Hernandez Vazquez, vice-president. The case is assigned to Judge Brian K. Tester. At the time of the filing, the Debtor disclosed $224,281 in assets and $3.13 million in liabilities. AOG ENTERTAINMENT: Hires Royalty Review Council as Consultants -------------------------------------------------------------- AOG Entertainment, Inc., and its debtor-affiliates seek permission from the U.S. Bankruptcy Court for the Southern District of New York to employ Entertainment Council LLC dba Royalty Review Council as royalty consultants for the Debtors and Debtors in possession. Royalty Review Council has provided, and will continue to provide, the Debtors with services relating to the preparation of record and mechanical royalty statements. Specifically, Royalty Review Council will prepare and calculate semi-annual and quarterly record and U.S. mechanical royalty statements based on certain categories of royalty accounting information, including, but without limitation, artist contract information, artist royalty rates, rate reductions, product label copy information, song publisher/writer names, and applicable mechanical rates that correspond to the copyrighted musical works, sound recordings, musical compositions, or audio-visual performances that Debtors own or control. For the Services performed during the cases, Royalty Review Council estimates a charge of $3,000 - $23,000 per month. Royalty Review Council will charge the Debtors on an hourly rate schedule as follows: Executive $315 Royalty Manager $205 Staff/Data Entry/Research $95-$110 Royalty Review Council will also be reimbursed for reasonable out-of-pocket expenses incurred. Keith Bernstein, chief executive officer of Royalty Review Council, 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. Royalty Review Council can be reached at: Keith Bernstein ENTERTAINMENT COUNCIL LLC dba ROYALTY REVIEW COUNCIL 15456 Ventura Blvd., Suite 400 Sherman Oaks, CA 91403 Tel: (818) 788-8380 Fax: (818) 475-1669 About AOG Entertainment CORE Entertainment Inc. and its subsidiaries own, produce, develop and commercially exploit entertainment content. The Company's portfolio of world-class brands and entertainment properties includes participation in the "IDOL"-branded shows, including American Idol, Deutschland sucht den Superstar, Nouvelle Star and more than fifty other franchises shown around the world, and the popular television series "So You Think You Can Dance". The Company conducts its primary business activities through its subsidiary groups, including 19 Entertainment. CORE Entertainment Inc. and 47 other affiliates each filed a Chapter 11 bankruptcy petition (Bankr. S.D.N.Y. Case Nos. 16-11087 to 16-11134, respectively) on April 28, 2016, two days prior to the expiration of their forbearance agreement with (a) certain lenders holding the requisite amount of loans under a first lien term loan facility; and (b) Crestview Media Investors, L.P., as lender under the first lien term loan facility and a second lien term loan facility. Pursuant to the Forbearance Agreements, the lenders agreed to forbear from exercising their remedies on account of any missed payments or certain alleged defaults under the Term Loan Agreements. The Debtors estimated assets and liabilities in the range of $100 million to $500 million. The Debtors have hired Matthew A. Feldman, Esq., Paul V. Shalhoub, Esq., and Andrew S. Mordkoff, Esq., at Willkie Farr & Gallagher LLP as counsel, Moelis & Company, LLC as financial advisor, PricewaterhouseCoopers LLP as auditors and tax consultants and Kurtzman Carson Consultants LLC as claims, noticing and administrative agent. The cases are jointly administered under AOG Entertainment, Inc., Case No. 16-11090 before the Honorable Stuart M. Bernstein. The official committee of unsecured creditors retained Zolfo Cooper, LLC as its financial advisor; and Sheppard Mullin Richter & Hampton, LLP as counsel. * * * AOG Entertainment, Inc., et al., filed with the U.S. Bankruptcy Court for the Southern District of New York a disclosure statement for the Debtor's first amended joint Chapter 11 plan of reorganization. Holders of Class 5 General Unsecured Claims, estimated at $23.92 million, will recover 3.5%. The Disclosure Statement is available at: http://bankrupt.com/misc/nysb16-11090-250.pdf ASDRUBAL MARTINEZ: Confirmation Hearing Set for Nov. 16 ------------------------------------------------------- Judge Paul M. Glenn of the United States Bankruptcy Court for the Middle District of Florida will hold a hearing to consider confirmation of Asdrubal Martinez's Chapter 11 Plan on Nov. 16, 2016, at 2:00 p.m., in 4th Floor Courtroom A, 300 North Hogan Street, in Jacksonville, Florida. Nov. 2, 2016 is fixed as the last day for filing acceptances or rejections of the plan. Any objections to confirmation must be filed and served seven days before Nov. 16 and will be governed by Rule 9014 of the Federal Rules of Bankruptcy Procedure. The Debtor's disclosure statement dated July 8, 2016, explaining its Chapter 11 Plan was approved on Sept. 19, 2016. About Asdrubal Martinez Asdrubal Martinez sought protection under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 16-02294) on June 19, 2016. The case is assigned to Judge Paul M. Glenn. AVENUE C TENANTS: Plan Has 100% Recovery, Converts HDFC Into Coop ----------------------------------------------------------------- Avenue C Tenants HDFC has proposed a reorganization plan that offers unsecured creditors owed $194,000 cash equal to 100% of such allowed unsecured claim with interest at the federal judgment rate. The class of unsecured creditors is unimpaired under the Plan. Holders of secured claims totaling $1,203,489 are also unimpaired under the Plan. The Plan provides for the conversion of the HDFC into a Coop pursuant to applicable New York State and New York City Law and subject to restrictions with respect to providing for low income housing as provided for in the Debtor's deed and articles of incorporation. The HDFC program is centered on providing home ownership to lower income households that would normally not have the opportunity for home ownership. Upon a conversion into a Coop, the Debtor, now a Coop, will have the ability to sell two currently vacant apartments. The proceeds from the sale of these two apartments will be used to fund the Debtor's plan of reorganization by paying all Allowed Claims in full with interest. In order to convert from an HDFC to a Coop, with shares owned by the current Tenants, the Debtor must submit an offering plan for approval by the office of the New York State Attorney General. The offering plan is a proposal to the Tenants with respect to the conversion of the HDFC into a Coop and the terms of sale to the Tenants. The offering plan must contain a significant amount of disclosures, including among other things, the buy-in price, if any, the relevant corporate documents, proposed expenses for maintaining the property (utilities, taxes, insurance, etc.), and compliance with relevant state and city regulations. It is anticipated that the offering plan will take 90 days to complete. Upon submission to the Attorney General's office, the Attorney General will then review the offering plan and any supporting documentation to determine whether all information has been appropriately disclosed. During the review period, the Attorney General may require additional disclosures from the Debtor. The Debtor anticipates that the entire review process after submission of the offering plan could take 12 to 18 months. While the primary means of converting to a Coop involves the submission of a formal offering plan to the Attorney General's office, New York State law also provides certain exemptions to submitting an offering plan. If a party qualifies for an exemption, it does not need to submit a formal offering plan followed by a formal review process, but rather, a party submits an application for a no action letter. If the application is accepted, the Debtor will still be required to disclose certain financial obligations, however, such disclosure are not as cumbersome as under a formal offering plan and the review process will only take 30 to 60 days. The Debtor is currently in the process of preparing the necessary paperwork to determine if it qualifies for an exemption so that it can proceed expeditiously towards conversion into a Coop in an expedited manner. If the Debtor is unable to find an exemption to the traditional offering plan, then the Debtor will proceed accordingly and submit an offering plan to the Attorney General. The Debtor's current managing agent, H.F. Hewitt Realty has extensive experience with converting HDFCs into Coops. The Debtor is confident that whether it be through an expedited application for no action letter or through a formal offering plan, the Debtor will be successful in its conversion into a Coop. In the Debtor's opinion, the treatment of claims under the Plan provides a greater recovery for Creditors than that which is likely to be achieved under other alternatives for the reorganization or liquidation of the Debtor. A copy of the Disclosure Statement is available for free at: http://bankrupt.com/misc/nysb16-11209_17_DS_Ave_HDFC.pdf About Avenue C Tenants Avenue C Tenants HDFC operates a mixed-use property located at 73-75 Avenue C, New York, New York (the "Property"), which consists of 16 affordable, rent-stabilized apartments and two commercial spaces. The Property is currently subject to a foreclosure action initiated by NYCTL 2013-A TRUST and The Bank of New York Mellon as Collateral Agent and Custodian, which claim has been assigned to NYCTL 1998-2 Trust and The Bank of New York Mellon as Collateral Agent and Custodian, the holder of a real estate tax lien against the Property. As a result of New York City Department of Housing Preservation and Development's Community Management Program, the Debtor was created as an HDFC and was issued a deed to the Property in 1981. Avenue C Tenants HDFC filed a Chapter 11 petition (Bankr. S.D.N.Y. Case No. 16-11209) on April 29, 2016. The Hon. Stuart M. Bernstein presides over the case. Arnold Mitchell Greene, Esq., at Robinson Brog Leinwand Greene Genovese & Gluck, P.C., serves as counsel to the Debtor. In its petition, the Debtor disclosed assets of $2.04 million and liabilities of $1.28 million. The petition was signed by Herman Hewitt, senior vice president. AVITA ARTESIAN: Plan Confirmation Hearing Set for Oct. 13 --------------------------------------------------------- The Hon. Daniel S. Opperman in Bay City, Michigan, granted preliminary approval of Avita Artesian Water, LLC's combined plan of reorganization and disclosure statement. The deadline to return ballots on the plan, as well as to file objections to final approval of the disclosure statement and objections to confirmation of the plan, is October 6, 2016. The completed ballot form must be returned by mail to the Debtor's attorney: Donald Darnell, Esq. 7926 Ann Arbor Street Dexter, MI 48130 The hearing on objections to final approval of the disclosure statement and confirmation of the plan will be held on Thursday, October 13, 2016, at 2:30 p.m. in the U.S. Bankruptcy Courtroom, 111 First Street, Bay City, Michigan 48708. The deadline for all professionals to file final fee applications is October 27, 2016. Avita Artesian Water, LLC, dba Avita Water, LLC, dba Avita Water, dba Avita, filed for Chapter 11 bankruptcy protection (Bankr. E.D. Mich. Case No. 12-21190) on April 9, 2012. Donald C. Darnell, Esq., serves as the Debtor's bankruptcy counsel. AZIZ PETROLEUM: 2nd Amended DS Has Updates on Creditor Recoveries ----------------------------------------------------------------- Aziz Petroleum, Inc., filed with the U.S. Bankruptcy Court for the Southern District of Florida a second amended disclosure statement dated Sept. 7, 2016, explaning the Debtor's plan of reorganization. The Debtor disclosed in the Second Amended Disclosure Statement that based on the investigation to date, it believes it has a meritorious professional malpractice claim against Jesse Dean Kluger, Esq. The Debtor adds that, together with the current tenant, Krome, it will seek to recover from Kwik Pick Food Mart, Inc., and its owner $13,341 for unpaid 2012 real property taxes and $4,827 for its proportionate share of the 2013 real property taxes. Krome will be required to pay tangible personal property taxes that Kwik Pick also failed to pay in order to protect its leasehold interest. This, the Debtor says, will create additional claims against Khan and Kwik Pick. To the extent that any other monies are owed by Krome to the Debtor, Krome has agreed to pay same to the Debtor or on behalf of the Debtor. Moreover, the Debtor says the claim of Catherine Addison is an unliquidated personal injury claim and was styed by the filing of the case. The Debtor is represented by insurance counsel, and the claim is fully covered by insurance. For reasons unknown to the Debtor, the plaintiff has not sought to lift the automatic stay. Counsel for Addison has stated that he will limit the claim to insurance policy limits. Under the Plan, Class 6 Unsecured General Claims are impaired and are payable over 60 months, in equal monthly installments. Payments and distributions under the Plan will be funded by: a. income; b. cash on hand on the effective date of the Plan; c. payments from operations until all payments to be made pursuant to the Plan have been made; and d. the refinancing of the mortgage of the bank. The Disclosure Statement is available at: http://bankrupt.com/misc/flsb15-30937-146.pdf Headquartered in Homestead, Florida, Aziz Petroleum, Inc., is a corporation formed in 2002, and has been in the business of owning real estate on which a gas station and convenience store is operated. The real estate is leased to an affiliated third party. The Debtor filed for Chapter 11 bankruptcy protection (Bankr. S.D. Fla., Case No. 15-30937) on Nov. 30, 2015. The Debtor, in its Petition, estimated its assets and liabilities at up to $50,000 each. The Debtor is represented by Lenard H. Gorman, Esq. B&L EQUIPMENT: Creditor's Panel Taps Tiger Valuation as Appraiser ----------------------------------------------------------------- The Official Committee of Unsecured Creditors of B&L Equipment Rentals, Inc., seeks authorization from the U.S. Bankruptcy Court for the Eastern District of California to retain Tiger Valuation Services, LLC as appraiser to the Debtor. The Debtor's Schedules reflect that the value of its assets exceed its liabilities -- both secured and unsecured -- by approximately $12 million. Due to the Debtor's ongoing operating losses, the Committee desires to explore the recovery to general unsecured creditors if the Debtor's personal property assets were liquidated, thereby informing creditors and the Court whether a liquidation of the Debtor's assets under a chapter 11 would be in their best interests, in contrast to an operating plan that the Debtor may propose pursuant to which creditors would likely be paid over a period of years. The Court recently set a deadline of November 30, 2016 for the Debtor to file a chapter 11 plan. The Committee requires Tiger Valuation to provide asset valuation, advisory and disposition services, and capital solutions of the Debtor's assets and liabilities. Tiger Valuation will be paid a fixed fee of $16,500, plus actual and out-of-pocket expenses incurred. Bryan Seeley, member of Tiger Valuation Services, LLC, assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and do not hold or represent an interest adverse to the bankruptcy estate, and do not have any connections with the Debtor, the creditors of the estate, any other party in interest in this case, or each of their respective attorneys or accountants, the Office of the United States Committee, or any person employed by the Office of the United States Committee. Tiger Valuation can be reached at: Bryan Seeley TIGER VALUATION SERVICES, LLC 84 State Street, 4th Floor Boston, MA 02109 Tel: (617) 523-7002 Fax: (617) 523-3007 About B&L Equipment Rentals B&L Equipment Rentals, Inc., filed a Chapter 11 bankruptcy petition (Bankr. E.D. Cal. Case No. 15-14685) on Nov. 30, 2015. The petition was signed by Lawrence F. Jenkins as president. The Debtor listed total assets of $17.2 million and total debt of $5.02 million. The Law Office of Leonard K. Welsh represents the Debtor as counsel. The case has been assigned to Judge Rene Lastreto II. No official committee of unsecured creditors has been appointed in the case. BATTLE CREEK: Case Summary & 20 Largest Unsecured Creditors ----------------------------------------------------------- Debtor: Battle Creek Realty, LLC 23540 Reynolds Court Clinton Township, MI 48036 Case No.: 16-53192 Chapter 11 Petition Date: September 25, 2016 Court: United States Bankruptcy Court Eastern District of Michigan (Detroit) Judge: Hon. Maria L. Oxholm Debtor's Counsel: Ernest Hassan, Esq. STEVENSON & BULLOCK, P.L.C. 26100 American Drive, Suite 500 Southfield, MI 48034 Tel: (248) 354-7906 Fax: (248) 354-7907 E-mail: ehassan@sbplclaw.com Estimated Assets: $0 to $50,000 Estimated Liabilities: $10 million to $50 million The petition was signed by Mark D. Krueger, member. A copy of the Debtor's list of 20 largest unsecured creditors is available for free at http://bankrupt.com/misc/mieb16-53192.pdf BROWN'S CHRISTIANWAY: U.S. Trustee Unable to Appoint Committee -------------------------------------------------------------- The Office of the U.S. Trustee on Sept. 23 disclosed in a court filing that no official committee of unsecured creditors has been appointed in the Chapter 11 case of Brown's Christianway Home for Funerals, Inc. Brown's Christianway Home for Funerals, Inc., sought protection under Chapter 7 of the Bankruptcy Code (Bankr. D. Ark. Case No. 16-13155) on June 14, 2016. The Chapter 7 case was converted to a case under Chapter 11 of the Bankruptcy Code on August 11, 2016. The case is assigned to Judge Phyllis M. Jones. The Debtor is represented by: James Fitzgerald Valley, Esq. J. F. VALLEY, ESQ., P.A. 423 Rightor Street, Suite 4 PO Box 451 Helena, AR 72342 Tel: (870) 619-1750 Fax: (870) 619-1760 Email: james@jamesfvalley.com BUY WHOLESALE: Taps Houston Howell as Special Counsel ----------------------------------------------------- Buy Wholesale, Inc. seeks authorization from the U.S. Bankruptcy Court for the Middle District of Tennessee to employ Houston W. Howell and the firm of Attorneys Title Company, Inc., as special counsel nunc pro tunc to May 8, 2016. The Debtor requires Mr. Howell, to perform settlement services with regard to the sale of commercial property located at 25 Lincoln Street, Nashville, Tennessee 37210, including, but not limited to, contract review and negotiation, drafting of documents, and any related consultation. Mr. Howell and the firm of Attorneys Title Company, Inc., will be paid a flat fee of $500 for all services performed. Compensation shall be paid at the time of closing. Mr. Howell will also be reimbursed for reasonable out-of-pocket expenses incurred. Mr. Howell and the firm of Attorneys Title Company, Inc. 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 Debtor and its estate. The Bankruptcy Court will hold a hearing on the application on October 11, 2016, at 9:00 a.m. Objections, if any, are due on October 3, 2016. Mr. Howell can be reached at: Houston W. Howell, Esq. ATTORNEYS TITLE COMPANY, INC. 2927 Berry Hill Dr Nashville, TN 37204-3126 Tel: (615) 385-5502 Fax: (615) 385-5578 Buy Wholesale, Inc., dba Buy Wholesale Outlet, sought protection under Chapter 11 of the Bankruptcy Code (Bankr. M. D. Tenn. Case No. 16-03573) on May 18, 2016. The petition was signed by John Adams, chief financial officer. The case is assigned to Judge Marian F. Harrison. At the time of the filing, the Debtor disclosed $1.1 million in assets and $1.15 million in debts. C.H.I.R. CORPORATION: U.S. Trustee Unable to Appoint Committee -------------------------------------------------------------- The Office of the U.S. Trustee on Sept. 23 disclosed in a court filing that no official committee of unsecured creditors has been appointed in the Chapter 11 case of C.H.I.R. Corporation. C.H.I.R. Corporation, based in Miami, Fla., filed a Chapter 11 petition (Bankr. S.D. Fla. Case No. 16-20921) on August 5, 2016. Hon. Robert A Mark presides over the case. Richard R. Robles, Esq. as bankruptcy counsel. In its petition, the Debtor estimated $500,000 to $1 million in assets and $1 million to $10 million in liabilities. The petition was signed by Caryle Anthony DeCruise, president and director. CAESARS ENTERTAINMENT: Creditors in Talks to Patch $400M+ Hole -------------------------------------------------------------- Jodi Xu Klein, Steven Church, and Laura Keller, writing for Bloomberg News, reported that Caesars Entertainment Corp. is inching closer to a deal to finance the reorganization of its bankrupt operating unit and end two years of rancorous court battles that embroiled the casino giant and its controlling shareholders, Apollo Global Management LLC and TPG Capital. According to the report, Caesars Entertainment Operating Co.'s bondholders and lenders are hammering out the framework of a deal, said people with knowledge of the matter. Negotiations continued on Saturday after a midnight Friday deadline passed without a final agreement, the report said, citing one of the people. The parties must determine how to divide a $400 million payout called for in a new plan the casino operator offered two days ago to get holdout second-priority creditors on board with a restructuring, the report related, citing the people, who asked not to be identified because the talks are private. A proposal under discussion would require the operating unit's most senior bondholders and lenders to give up $170 million of their original recoveries, while Caesars provides $200 million, the people said, the report further related. The unit's lower-ranking, second-lien bondholders, a group that includes David Tepper's Appaloosa Management, would forgo the remaining $30 million, the people said, the report added. 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 U.S. Bankruptcy Court for the Northern District of Illinois approved the adequacy of the disclosure statement explaining the second amended joint Chapter 11 plan of reorganization of Caesars Entertainment Operating Company Inc. and its debtor-affiliates. The Court set Oct. 31, 2016, at 4:00 p.m. (prevailing Central Time) as last day for any holder of a claim entitle to vote to accept or reject the Debtors' plan. A hearing is set for Jan. 17, 2017, at 10:30 a.m. (prevailing Central Time) in Courtroom No. 642 in the Everett McKinley Dirksen United States Courthouse, 219 South Dearborn Street, Chicago, Illinois, to confirm the Debtors' plan. Objections to confirmation, if any, are due Oct. 31, 2016, at 4:00 p.m. (prevailing Central Time). CAESARS ENTERTAINMENT: Kleisner Subpoena Issue Sent to Ill. Court ----------------------------------------------------------------- Judge Jeffrey A. Deller of the United States Bankruptcy Court for the Western District of Pennsylvania ruled that the motion to compel Fred Kleisner to produce documents and information in Response to a subpoena will be transferred to the United States Bankruptcy Court for the Northern District of Illinois at Case No. 15-01145 (ABG). The subpoena at issue is directed to Mr. Kleisner, who served as an independent director of Caesars Entertainment Corporation. According to the Motion to Compel, Mr. Kleisner is an alleged co-defendant in what is described by the Official Committee of Second Priority Noteholders as "a nearly 200-page adversary complaint alleging multiple claims . . . [against the] core group of individuals who sat on the boards of CEC and/or [Caesars Entertainment Operating Company ("CEOC")]." The Motion to Compel avers that the lawsuit, which was filed in the Issuing Court at Adversary Proceeding No. 16-00522, alleges claims against Mr. Kleisner sounding in breach of fiduciary duty. The Motion to Compel further avers the Adversary Proceeding was filed after a bankruptcy examiner filed a report with the Issuing Court identifying potential claims against CEOC's directors and CEC, and concluded that the potential aggregate damages could range from $3.6 billion to $5.1 billion. The movant avers further in the Motion to Compel that the range of damages may be higher than what was estimated by the examiner. Judge Deller held that the lawsuit is germane to the bankruptcy case pending in the Illinois Bankruptcy Court ("Issuing Court") because the Debtors have filed in that court a proposed Second Amended Plan of Reorganization, which provides for a release of claims and causes of action asserted in the Adversary Proceeding. Judge Deller concluded that the Committee has demonstrated exceptional circumstances that warrant transferring the Motion to Compel to the Issuing Court -- namely the need for efficiency, uniformity and orderliness to the discovery process attendant to the Plan confirmation proceeding that is pending in the Issuing Court. Furthermore, Judge Deller found that a transfer to the Issuing Court will not significantly burden Mr. Kleisner. The case is OFFICIAL COMMITTEE OF SECOND PRIORITY NOTEHOLDERS, Movant, v. FRED J. KLEISNER, Respondent, Miscellaneous No. 16-206-JAD (Bankr. W.D. Pa.). A full-text copy of Judge Deller's Memorandum Opinion dated September 21, 2016, is available at https://is.gd/BvxmFK from Leagle.com. Official Committee of Second Priority Noteholders, Party to Miscellaneous Proceeding, represented by Ira M. Karoll, Esq. -- ikaroll@jonesday.com -- Jones Day & Sevan Ogulluk, Esq. -- sogulluk@jonesday.com -- Jones Day. 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 U.S. Bankruptcy Court for the Northern District of Illinois approved the adequacy of the disclosure statement explaining the second amended joint Chapter 11 plan of reorganization of Caesars Entertainment Operating Company Inc. and its debtor-affiliates. The Court set Oct. 31, 2016, at 4:00 p.m. (prevailing Central Time) as last day for any holder of a claim entitle to vote to accept or reject the Debtors' plan. A hearing is set for Jan. 17, 2017, at 10:30 a.m. (prevailing Central Time) in Courtroom No. 642 in the Everett McKinley Dirksen United States Courthouse, 219 South Dearborn Street, Chicago, Illinois, to confirm the Debtors' plan. Objections to confirmation, if any, are due Oct. 31, 2016, at 4:00 p.m. (prevailing Central Time). CAESARS ENTERTAINMENT: Talks Ongoing for Consensual Restructuring ----------------------------------------------------------------- Caesars Entertainment Corporation and Caesars Entertainment Operating Company, Inc. ("CEOC") and its Chapter 11 debtor subsidiaries on Sept. 26, 2016, disclosed that there are ongoing discussions among Caesars Entertainment, the Debtors and all of CEOC's major creditor constituencies to reach an agreement on a consensual debt restructuring. Caesars Entertainment and CEOC made significant progress towards reaching an agreement with all parties on the material economics of the restructuring in advance of the Friday, September 23 deadline. Caesars Entertainment and CEOC are working vigorously and collaboratively with the parties on the details and documentation. Although there can be no assurance, Caesars Entertainment and CEOC remain optimistic that an agreement will be reached to permit Caesars Entertainment to continue to support CEOC's plan in conjunction with consensus among CEOC's major creditor constituencies. 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 U.S. Bankruptcy Court for the Northern District of Illinois approved the adequacy of the disclosure statement explaining the second amended joint Chapter 11 plan of reorganization of Caesars Entertainment Operating Company Inc. and its debtor-affiliates. The Court set Oct. 31, 2016, at 4:00 p.m. (prevailing Central Time) as last day for any holder of a claim entitle to vote to accept or reject the Debtors' plan. A hearing is set for Jan. 17, 2017, at 10:30 a.m. (prevailing Central Time) in Courtroom No. 642 in the Everett McKinley Dirksen United States Courthouse, 219 South Dearborn Street, Chicago, Illinois, to confirm the Debtors' plan. Objections to confirmation, if any, are due Oct. 31, 2016, at 4:00 p.m. (prevailing Central Time). CANADIAN SOLAR: Fitch Lowers IDR to 'BB-'; Outlook Negative ----------------------------------------------------------- Fitch Ratings has downgraded the Long-Term Issuer Default Rating (IDR) of Canadian Solar, Inc. to 'BB-' from 'BB'. The Rating Outlook is revised to Negative from Stable. The downgrade reflects the company's higher risk profile following a change in its business strategy to focus on the more volatile solar module manufacturing and 'build-to-sell' construction businesses and to exit the more stable long-term contracted solar-powered electricity generation segment. The Negative Outlook reflects the execution risk surrounding the monetization of Canadian Solar's large portfolio of solar projects, which is necessary to reduce consolidated financial leverage. In resolving the Negative Outlook, Fitch will focus on the financial policy and consolidated leverage under the revised business model. Fitch would stabilize the ratings at 'BB-' if consolidated adjusted debt to EBITDAR and/or adjusted FFO-net leverage decline to 4.0x and 3.0x, respectively, on a sustainable basis. KEY RATING DRIVERS Revised Business Strategy: Fitch views the revised business strategy to focus on solar module manufacturing and 'build-to-sell' construction as elevating the business risk profile given the inherent cyclicality of these markets. Canadian Solar's downstream expansion into long-term contracted solar power systems ownership had the potential, in Fitch's view, to alleviate some that cyclicality. Leveraged Capital Structure: Adjusted consolidated debt to EBITDAR increased close to 8x at June 30, 2016, from 5x at year-end 2015, as Canadian Solar invested in solar power systems during first-half 2016. While significantly higher than expected, Fitch expects consolidated adjusted FFO net leverage to improve with the monetization of solar projects and return to 3.0x or less. Going forward, Fitch will focus on consolidated adjusted leverage, rather than adjusted recourse leverage, as non-recourse project level debt should become a small proportion of the capital structure under the revised business model. Monetization of Solar Projects: There is significant execution risk associated with plans to divest its large portfolio of solar projects, notwithstanding investor demand globally for solar projects. Fitch assumes that the majority of proceeds will be used to reduce outstanding debt with the remainder recycled to fund future construction projects. Competitive Cost Position: Fitch expects Canadian Solar to maintain its cost leadership, which is vital in a declining pricing environment. Canadian Solar forecasts a 30% manufacturing cost reduction to $0.29 per watt (for Chinese mainland production) by fourth-quarter 2017, compared with $0.41 per watt during first-quarter 2016, supported by the scale of its manufacturing operations, upstream integration and a secular decline in raw material costs. Nonetheless, solar PV technology continues to evolve and the barriers to entry are limited, opening the possibility of new technologies that could reduce or eliminate Canadian Solar's competitive cost advantage. Cyclical Market: The solar photovoltaic (PV) market has witnessed sharp peaks and troughs in recent years, a function of swings in global demand and overcapacity buildout in the supply chain. Canadian Solar's module segment gross profit margin swung from 15% to 7% during the last industry cycle. Industry-wide capacity expansions are starting to weight on pricing dynamics and point to another cycle of global profitability contraction. Geographical Diversity: Multiple manufacturing locations and exposure to diverse end-user markets reduce Canadian Solar' business risk. Fitch believes that expansion of government policy support in China, India, and other emerging markets will further strengthen Canadian Solar's pipeline of solar projects. This could also offset any slowdown in the solar PV markets in developed markets where government subsidies are projected to decline. While proving a headwind for 2016, the extension of the investment tax credit for solar energy projects in the U.S. should support robust demand in 2017-2018. Fragmented Financing Facilities: Canadian Solar's financing is fragmented and predominantly short-term. This strategy minimizes interest costs and reduces currency fluctuation risks, but also reduces visibility into financing flexibility and increases re-financing risks. Fitch draws significant comfort from Canadian's Solar large unrestricted cash position to meet temporary capital market dislocations and/or other unexpected cash needs. KEY ASSUMPTIONS Fitch's key assumptions within the rating case for Canadian Solar include: -- Assumed ASP range of $0.38/watt - $0.55/watt and COGS range of $0.35/watt - $0.40/watt between 2016 and 2018; -- Total module shipment of 5 GW recognized in revenue in 2016, followed by 5% growth in 2017 and 10% in 2018; -- Majority of solar power plants divested in 2017; -- About 1GW of solar projects delivered in 2018; -- No dividend and/or share buybacks in 2016-2018. RATING SENSITIVITIES Positive Rating Action: The Rating Outlook may be revised to Stable if Canadian Solar is able to monetize a significant portion of its portfolio of solar projects resulting in consolidated adjusted debt to EBITDAR and/or adjusted FFO-net leverage declining to 4.0x and 3.0x, respectively, on a sustainable basis. A positive rating action is unlikely given the inherently cyclical nature of the PV module manufacturing and the 'build-to-sell' construction businesses. Negative Rating Action: Future developments that may, individually or collectively, lead to a negative rating action include negative government policy or investor appetite developments adversely affecting valuation of existing solar projects; pressure on margins driven by an increase in polysilicon prices and/or oversupply of PV solar modules; aggressive acquisition or financing strategy; as well as consolidated adjusted debt to EBITDAR and/or adjusted FFO-net leverage remaining above 4.0x and 3.0x, respectively, on a sustained basis. LIQUIDITY Fitch believes the liquidity is sufficient to meet funding needs over the next 12-18 months, supported by large unrestricted cash position. Canadian Solar primarily finances its activities using short-term bank borrowings. While this is customary for entities operating in China, the short-term nature of the financing structure poses meaningful refinancing risk, in Fitch's view. Fitch excludes from its debt calculation the short-term notes payable, as they are more akin to accounts payable but ascribes 100% debt-value to the convertible notes maturing in February 2019 ($128 million outstanding at second-quarter end 2016). Fitch also uses an eight times multiple of last fiscal year operating leases to estimate lease-equivalent debt. FULL LIST OF RATING ACTIONS Fitch has downgraded these ratings: Canadian Solar, Inc -- Long-Term IDR to 'BB-'from 'BB'; -- Senior unsecured debt to 'BB-/RR4' from 'BB/RR4'. The Rating Outlook is revised to Negative from Stable. CAPE COD COMMERCIAL: MGCC Tries To Block Disclosures Approval ------------------------------------------------------------- Massachusetts Growth Capital Corporation, a creditor of Cape Cod Commercial Linen Service and This Is It, LLC, filed a limited objection to the disclosure statement with respect to the jointly administered Debtors' Chapter 11 plan of reorganization. MGCC claims that the Disclosure Statement fails to provide adequate information with respect to the Plan. MGCC further states that: a. the Disclosure Statement and Plan should be amended to clearly state the percentage stakes and names of persons/entities who will hold ownership interests in the Reorganized Debtors; b. the Disclosure Statement, Plan and Budget should be amended to clearly state that no shareholder distributions of any sort will be made to the persons or entities possessing an ownership interest in the Debtors until all distributions to creditors required under the Plan and Budget have been made; c. the Disclosure Statement, Plan and Budget should be amended to specify that the principals of the Debtors and their children or other insider-employees will not receive compensation and perks in excess of the amounts set forth in the Budget, plus cost of living increases, until all distributions to creditors required under the Plan and Budget have been made; and d. the Disclosure Statement and Plan should clearly state that creditors' claims against non-debtors -- including principals and their transferees -- are not being discharged or released under the Plan. The Counsel for MGCC has discussed the foregoing issues with Debtors' counsel and based on those conversations believes that the Debtors will be filing an amended Disclosure Statement and Plan addressing the foregoing issues. As reported by the Troubled Company Reporter on Aug. 16, 2016, the Debtors propose in the Plan that unsecured creditors of Cape Cod Commercial Linen Service, Inc., will get 20% of their claims. The Plan classifies general unsecured creditors of Cape Cod in Class 4. Because the only creditors of This Is It hold the same claims against Cape Cod, the Plan does not include a separate class of general unsecured creditors for This Is It. MGCC is represented by: Frank F. McGinn, Esq. Hackett Feinberg P.C. 155 Federal Street, 9th Floor Boston, MA 02110 Tel: (617) 422-0200 Fax: (617) 422-0383 E-mail: ffm@bostonbusinesslaw.com About Cape Cod Commercial Cape Cod Commercial Linen Service, Inc., based in Hyannis, Massachusetts, filed a Chapter 11 petition (Bankr. D. Mass. Case No. 16-11811) on May 13, 2016. Hon. Joan N. Feeney presides over the case. David B. Madoff, Esq., and Steffani Pelton Nicholson, Esq., at Madoff & Khoury LLP, serves as counsel to Cape Code Commercial. The Debtor's financial advisor is Bruce A. Erickson of B. Erickson Group, LLC. In its petition, the Debtor listed total assets of $1.24 million and liabilities of $4.62 million. The petition was signed by Jeffrey Ehart, president. This Is It, LLC, based in Hyannis, Massachusetts, filed a Chapter 11 petition (Bankr. D. Mass. Case No. 16-11813) on May 13, 2016. Hon. Joan N. Feeney presides over the case. This Is It tapped David B. Madoff, Esq., and Steffani Pelton Nicholson, Esq., at Madoff & Khoury LLP, as bankruptcy counsel. In its petition, This Is It listed $2.20 million in assets and $3.05 million in liabilities. The petition was signed by Jeffrey Ehart, president/manager. The Debtors' cases are jointly administered. CARL MERKLE: Unsecureds To Recoup 100% Under Plan ------------------------------------------------- Carl N. Merkle filed with the U.S. Bankruptcy Court for the Western District of Texas a disclosure statement describing the Debtor's plan of reorganization. The Class 3 claims consist of the claims of general unsecured creditors. The unsecured claims included the claims scheduled on the Debtors' schedules and filed with the Court, including any amendments to schedules and claims, and are estimated to be in the approximate amount of $30,274.52. The Class 3 creditors will receive 100% of the creditor's allowed claim in 20 quarterly payments starting the first day of the first quarter occurring 30 days after the Effective Date. The Class 3 claims are deemed to be impaired under the Plan and will vote on the Plan. The Plan is feasible as a result of the income to be generated from rent and from the Debtor's personal CPA income. The Debtor has provided a proforma, which demonstrates the Plan's feasibility. In additional to the funds on the proforma, the Debtor's wife has regularly been able to save $1500 to $2,000 per month of her income that can be used in the event the Debtor faces a shortfall. The Disclosure Statement is available at: http://bankrupt.com/misc/txwb16-50026-51.pdf The Plan was filed by the Debtor's counsel: Ronald J. Smeberg, Esq. THE SMEBERG LAW FIRM, PLLC 2010 W Kings Highway San Antonio, Texas 78201 Tel: (210) 695-6684 Fax: (210) 598-7357 Carl N. Merkle is a licensed CPA who presently works in the nonprofit affordable housing industry as an assistant controller. In addition to his accounting work, Debtor owns and operates Northeast Village Apartments, which is the driving force behind this Chapter 11 case. The Debtor's only residence is the Northeast Village Apartments and he has resided there since April 2012. The Debtor filed for Chapter 11 bankruptcy protection (Bankr. W.D. Tex. Case No. 16-50026) on Jan. 4, 2016. CHARICE PHILLIPS: Unsecured Creditors To Get $1K Per Month ---------------------------------------------------------- Charice M. Phillips filed with the U.S. Bankruptcy Court for the Northern District of Illinois a disclosure statement describing the Debtor's plan of reorganization. Under the Plan, each holder of allowed Class 4 General Unsecured Claims will be paid without interest of all claims held by the holders starting 30 days after plan confirmation until paid in full with a payment each month of $1,039.14 pro rata. There are 15 creditors that make up Class 4 and a total amount of $62,348.29 in unsecured non-priority claims as follows: Berwyn Police Department, City of Chicago (3 claims), Commonwealth Edison, Gregory K. Stearn, P.C., Nationwide Credit & Solutions, Inc., Real Time Solutions, Inc., Ronnie Henderson, Rush Oak Park Hospital, Village of Oak Park, Village of River Forest (2 claims) and WSSRA. The unsecured non priority claims filed by First Financial Investment Holdings, LLC was disallowed by the Court. The Debtor will make all payments out of her future income from her business (Little Beginnings Daycare) and from rent related to 224 Lake Street, Oak Park, Illinois. The Debtor is the disbursing agent. The Debtor expects to receive net income sufficient to pay all claims as provided. The Debtor intends to continue the operations of her real estate business which, in conjunction with the Debtor other sources of income and retirement funds, should generate a profit sufficient to pay the monies required under this Plan. All distributions under the Plan will be made from income as a going concern. The Disclosure Statement is available at: http://bankrupt.com/misc/ilnb16-03455-58.pdf The Plan was filed by the Debtor's counsel: Paul M. Bach, Esq. Penelope N. Bach, Esq. Bach Law Offices P.O. Box 1285 Northbrook, Illinois 60062 Tel: (847) 564-0808 (847) 564-0985 Charice M. Phillips owns the real estate located at 224 Lake Street, Oak Park, Illinois. The real estate contains three floors. The first floor is commercial and will contain a new day care owned by the Debtor. The Debtor will reside on the second floor and the third floor is rental real estate. The Debtor filed for Chapter 11 bankruptcy protection (Bankr. N.D. Ill. Case No. 16-03455) on Feb. 5, 2016. CHINACODE INC: Court Authorizes Use of Cash Collateral ------------------------------------------------------ Judge Peter Carroll the U.S. Bankruptcy Court for the Central District of California authorized Chinacode, Inc.'s use of Cash Collateral pursuant to its Cash Collateral Stipulation with prepetition secured lenders Lone Oak Fund, LLC and USI Servicing, Inc. through September 16, 2016. The Troubled Company Reporter reported earlier that the Debtor asked for the Court's authorization to continue to collect cash collateral, and utilize the cash collateral to pay the ordinary and necessary expenses related to the preservation and maintenance of its property. The Secured Lenders have consented to the Debtor's use of its cash collateral of up to $11,091 of Cash Collateral through Sept. 16, 2016 in accordance with its projected budget, subject to the following terms and conditions: (a) During the term of the Stipulation, the Debtor agrees to maintain adequate insurance in place on the subject property in accordance with the insurance requirements of the Office of the U.S. Trustee. (b) The Debtor's use of Cash Collateral is expressly limited to the categories set forth in the Budget and no amount of a Budget line item shall be available for the payment of any other Budget line item or expense or for any other purpose whatsoever unless ordered by the Court or further stipulation by the Parties in writing and then approved by the Court. (c) The Debtor may use Cash Collateral in an amount equal to 110% of each Budget line item if necessary to maintain and operate the Subject Property. About Chinacode Inc. Chinacode, Inc. sought protection under Chapter 11 of the Bankruptcy Code (Bankr. C.D. Cal. Case No. 16-10922) on May 16, 2016. The petition was signed by Zhongwei Wang, president. The case is assigned to Judge Peter Carroll. The Debtor estimated both assets and liabilities in the range of $1 million to $10 million. The Debtor is represented by Peter Susi, Esq., at Hollister & Brace, A Professional Corp. CHOBANI GLOBAL: S&P Assigns 'B' CCR; Outlook Stable --------------------------------------------------- S&P Global Ratings assigned its 'B' corporate credit rating to New York-based Chobani Global Holdings LLC and the borrower, Chobani LLC. The outlook is stable. At the same time, S&P assigned its 'B+' issue-level rating and '2' recovery ratings to the company's proposed $150 million revolving credit facility due in 2021 and $650 million first-lien term loan due 2023. The '2' recovery rating indicates S&P's expectation for substantial (lower end of the 70%-90% range) recovery in the event of a payment default. S&P also assigned its 'CCC+' issue-level rating and '6' recovery rating to the company's existing $750 million second-lien term loan due in 2020. The '6' recovery rating indicates S&P's expectation for negligible (0%-10%) recovery in the event of a payment default. Chobani expects to use proceeds from the debt offering to repay approximately $334 million under its existing revolving credit facility, repay $281 million of the existing second-lien term loan (including the corresponding call premium), and pay estimated fees and expenses. Pro forma for this offering, S&P estimates the company will have roughly $1.3 billion in adjusted debt outstanding. S&P includes $68 million of notes payable for the New Markets Tax Credit Program to S&P's adjusted debt balance. The ratings reflect Chobani's highly leveraged capital structure, narrow business focus in Greek yogurt that is vulnerable to changing consumer tastes and preferences, substantial exposure to dairy price fluctuations, and participation in a highly competitive industry against larger packaged food companies. The ratings also reflect Chobani's good brand recognition and scale with revenues approaching about $1 billion in 2016, although concentrated primarily in the U.S. "We estimate pro forma debt leverage for this transaction is roughly 8x, and our expectation is for debt to EBITDA to remain at this level by the end of fiscal-year 2016 and fall to about 6.5x by the end of 2017," said S&P Global Ratings credit analyst Amanda O'Neill. "We believe that the proposed transaction will improve the company's liquidity profile, cash flow, and overall capital structure. It would also extend the maturity of the company's existing revolving credit facility that is due to mature in September 2017, free up liquidity, and reduce interest expense." The stable outlook incorporates S&P Global Ratings' expectation for the company to reduce leverage to about 6.5x by the end of 2017 through EBITDA expansion from volume growth, improved operating leverage, and cost savings, from about 8x currently. S&P also expects the company to maintain adequate liquidity from access to its new revolver, despite S&P's expectation for continued negative free operating cash flow in 2016 from continued investments in its two facilities to improve efficiency and drive growth. S&P expects free operating cash flow to turn positive in 2017 as the company's capital expenditures decrease. S&P could consider lowering the ratings if debt to EBITDA is sustained above 7x and free operating cash flow does not improve and start to turn positive in 2017. This could occur if the company were unable continue to grow its revenues in the double-digits from new product innovations, to successfully execute on its plan to achieve operating leverage and cost-savings, or if the price of milk increases to a level whereby S&P expects gross margins to contract by over 200 basis points from S&P's base case forecast. S&P estimates a $2 increase in the price of milk per gallon could result in EBITDA margin contraction of about 200 basis points. S&P also believes that the company may not be able to deleverage if competition intensifies leading to a substantial loss of market share to its larger competitors or of the company experiences additional product quality issues leading to significant revenue declines and EBITDA contraction. Although unlikely in the next 12 months, S&P could consider raising the ratings if the company deleverages to below 5x and improves its cash flow generation, demonstrates a track record of strengthening financial performance, and diversifies its product portfolio away from Greek yogurt increasing its scale. S&P believes that the company would have to start generating positive free operating cash flow to do so, which S&P do not expect until at the earliest 2017. CJ HOLDINGS: Creditors' Panel Taps CMAG as Investment Banker ------------------------------------------------------------ The Official Committee of Unsecured Creditors of CJ Holdings Co., et al., seeks authorization from the U.S. Bankruptcy Court for the Southern District of Texas to retain Carl Marks Advisory Group LLC as investment banker to the Debtor. The Committee requires CMAG to: a. analyze the current financial position of the Debtors; b. analyze the business plans, cash flow projections, restructuring programs, and other reports or analyses prepared by the Debtors, lenders, or other constituencies or their professionals and will advise the Committee on any plans of reorganization or liquidation or any strategic transaction, including but not limited to, ones affecting the disposition of the Debtors' assets, equity conversions, change in ownership or raising capital; c. evaluate any proposed transactions by the Debtors, including, but not limited to, asset sales, capital raise transactions, plan sponsors, support agreements, bidders, etc.; d. attend meetings with the Committee, its counsel, other financial advisors and representatives of the Debtors, lenders or other constituents and provide advice to the Committee; e. assist and advise the Committee and its counsel in the development, evaluation and documentation of any plans of reorganization or liquidation or strategic transactions, including developing, structuring and negotiating the terms and conditions of potential plans or strategic transactions and the consideration that is to be provided to unsecured creditors thereunder; f. perform or review valuations, as appropriate and necessary, of the Debtors' corporate assets; g. assist in communications and negotiations with the Debtors, lenders and other constituents; h. advise the Committee on negotiating strategies and tactics and represent the Committee's interest with the intention to maximize recovery for the unsecured creditors; and i. perform other services, tasks and duties related to this engagement as are directed by the Committee and reasonably acceptable to CMAG. CMAG will be paid at these hourly rates: (a) Monthly Fee. The Debtors shall pay CMAG for the services Described above a fixed monthly fee (a "Monthly Advisory Fee") at the rate of $130,000 per monthly period beginning upon the date of the Engagement Letter and for each subsequent monthly period thereafter in which the services are to be provided. (b) Success Fee. CMAG shall also be entitled to a success fee, in the amount of $750,000 (the "Success Fee"), which shall be earned in full upon the (i) effective date of a chapter 11 plan of reorganization or liquidation in the Debtors' chapter 11 cases, (ii) the effective date of a sale or disposition of the assets of the Debtors pursuant to section 363 of the Bankruptcy Code or otherwise, or (iii) the dismissal of the Debtors' chapter 11 case, provided that following such dismissal the Debtors do not otherwise liquidate or cease business operations, in any case which is supported by the Committee. Disposition for purposes of the Success Fee, and to avoid any ambiguity, includes a placement, swap or conversion involving debt and equity, or the injection of capital or the procurement of equity or equity linked financing. (c) Expenses. CMAG will submit invoices on a monthly basis Unless otherwise ordered by the Bankruptcy Court for its professional services rendered and expenses incurred. CMAG shall be entitled to payment for professional services rendered and reimbursement for all out-of-pocket and reasonable expenses incurred by it in the performance of its duties (the "Expenses") upon presentation of supporting documentation therefor. Expenses shall include, but not be limited to, all out of pocket expenses, transportation costs for any of CMAG personnel, employees or associates related to this engagement, including costs of hotels, meals, research, etc. Charles Boguslaski, member of Carl Marks Advisory Group LLC, assured the Court that the firm is a "disinterested person" as that term is defined in Bankruptcy Code section 101(14). CMAG currently neither holds nor represents any interest adverse to the Debtors' estates or the Committee in accordance with Section 1103(b) of the Bankruptcy code. CMAG has no connection with any Debtor, creditor, other party-in-interest, their respective attorneys and accountants, the United States Trustee for the Southern District of Texas or of any known employee in the office thereof, or any United States Bankruptcy Judge of the Southern District of Texas. CMAG can be reached at: Charles Boguslaski CARL MARKS ADVISORY GROUP LLC 900 Third Avenue, 33rd Floor New York, NY 10022-4775 Tel: (212) 909-8400 E-mail: cboguslaski@carlmarks.com About C&J Energy C&J Energy Services -- http://www.cjenergy.com/-- is a provider of well construction, well completions, well support and other complementary oilfield services to oil and gas exploration and production companies. As one of the largest completion and production services companies in North America, C&J offers a full, vertically integrated suite of services involved in the entire life cycle of the well, including directional drilling, cementing, hydraulic fracturing, cased-hole wireline, coiled tubing, rig services, fluids management services and other special well site services. C&J operates in most of the major oil and natural gas producing regions of the continental United States and Western Canada. C&J Energy Services Ltd. and 14 of its subsidiaries each filed a voluntary petition under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 16-33590) on July 20, 2016. The Debtors' cases are pending before Judge David R Jones. The law firms Loeb & Loeb LLP, Kirkland & Ellis LLP serve as the Debtors' counsel. Fried, Frank, Harris, Shriver & Jacobson LLP acts as special corporate and tax counsel to the Debtors. Investment bank Evercore is the Debtors' financial advisor and AlixPartners is the Debtors' restructuring advisor. Ernst & Young Inc. is the proposed information officer for the Canadian proceedings. Donlin, Recano & Company, Inc. serves as the claims, noticing and balloting agent. U.S. Trustee Judy A. Robbins appointed five creditors to serve on the official committee of unsecured creditors in the Chapter 11 case of CJ Holding Co., et al. The Committee hires Greenberg Traurig, LLP as counsel for the Committee, Conway MacKenzie, Inc., to serve as its financial advisor. COLLAVINO CONSTRUCTION: CCCI Unsecured Creditors to Recover 70% --------------------------------------------------------------- Collavino Construction Company Limited and Collavino Construction Company Inc. have proposed a consensual plan that provides that holders of general unsecured claims against CCCL with an estimated total allowed amount of $6,327,547 will recover 100% and holders of general unsecured claims against CCCI with an estimated total amount of $3,443,779 will recover 70%. As a result of, among other things, delays to the progress of work caused by conditions beyond the control of the Debtors and the Port Authority's election to terminate the WTC Contract with CCCL at a time when there were amounts due and owing to CCCI's trade vendors, CCCL incurred a damage claim against the Port Authority on the WTC Project in the amount of approximately $87,312,257, plus interest and costs (the "WTC Claim"). The Port Authority disputed the Debtors' entitlement to the WTC Claim. The Plan is a consensual plan of liquidation that is based upon a proposed settlement between the Debtors and the Port Authority regarding the WTC Claim on terms that are supported by the Committee. The Plan will be funded by the Port Authority's payment of the WTC Claim Proceeds to the Debtors on the Effective Date, together with any other Available Cash generated through the liquidation of the Estates. The Plan also contemplates the transfer from CCCL to CCCI of $1,000,000 in funds in excess of the amount of CCCI's Allowed General Unsecured Claim against CCCL to increase the funds available for distribution to the creditors of CCCI's Estate. As a part of the proposed settlement, the Port Authority will make a substantial contribution to the Debtors by sponsoring the Plan through the payment of the WTC Claim Proceeds to the Estates and withdrawing the PA Claims. The Plan also provides for third party releases of the Port Authority by the Debtors and any creditor or other party receiving any benefit under the Plan from any and all Claims relating to the Debtors and the Chapter 11 Cases. According to the Debtors, the releases are warranted because of the unique circumstances in these Chapter 11 Cases. In that regard, the payment of the WTC Claim Proceeds by the Port Authority represents the only means available to provide a significant distribution to the Debtors' respective creditors. Absent approval of the Debtors' settlement of the WTC Claim and PA Claims with the Port Authority through the confirmation of the Plan, the Debtors believe that their creditors will receive little or no distribution on account of their Claims in these Chapter 11 Cases. Under these circumstances, and based on the anticipated recovery to holders of General Unsecured Claims against CCCI, the Committee supports the Plan which is being proposed on a consensual basis. While this is a plan for each of the Debtors, it does not provide that the Debtors' Chapter 11 Cases will be substantively consolidated. A copy of the Second Amended Disclosure Statement for the Second Amended Chapter 11 Plan of Liquidation is available for free at: http://bankrupt.com/misc/nysb14-12908_401_2ndDS_Collavino.pdf About Collavino Construction Family-owned The Collavino Group owns entities that operate in various sectors of the construction industry in the New York-New Jersey metropolitan area, Canada, and the Detroit metropolitan area. The Collavino Group performs contracts in both the public and private sectors as a general contractor, design-build consultant, construction manager and prime subcontractor for cast-in-place and precast concrete works. CCCI sought Chapter 11 protection (Bankr. S.D.N.Y. Case No. 14-12908) on Oct. 17, 2014. CCCL sought Chapter 11 protection (Bankr. S.D.N.Y. Case No. 15-10344) on Feb. 18, 2015. Judge Shelley C. Chapman approved the joint administration of the two cases. CCCL disclosed $88,418,514 in assets and $6,274,097 in liabilities as of the Chapter 11 filing. The Debtors tapped Cullen and Dykman LLP as counsel, and Peckar & Abramson, P.C., as special litigation counsel. CONTINENTAL LIGHTING: Case Summary & 20 Top Unsecured Creditors --------------------------------------------------------------- Debtor: Continental Lighting & Contracting, Inc. 512 East Chicago Circle Chandler, AZ 85225 Case No.: 16-10960 Chapter 11 Petition Date: September 23, 2016 Court: United States Bankruptcy Court District of Arizona (Phoenix) Judge: Hon. Daniel P. Collins Debtor's Counsel: Allan D. Newdelman, Esq. ALLAN D NEWDELMAN PC 80 E. Columbus Ave. Phoenix, AZ 85012 Tel: 602-264-4550 Fax: 602-277-0144 E-mail: anewdelman@adnlaw.net Total Assets: $283,644 Total Liabilities: $1.56 million The petition was signed by Suzann K. Herr and Bruce L. Herr, treasurer and president. A copy of the Debtor's list of 20 largest unsecured creditors is available for free at http://bankrupt.com/misc/azb16-10960.pdf CORE RESOURCE: Hires Fellers Snider as Special Counsel ------------------------------------------------------ Core Resource Management, Inc. and Nitro Petroleum, Inc., seek authority from the U.S. Bankruptcy Court for the District of Arizona to employ the Law Office of Fellers Snider as special counsel to the Debtors. Core Resource requires Fellers Snider to: a. review the nature and validity of any liens asserted against the Debtors' property and advise the Debtor concerning the enforceability of such liens; b. advise the Debtor regarding the ability to initiate actions to collect and recover property for the benefit of their respective estates; c. advise and assist the Debtors in connection with any commercial transactions; d. advise and assist the Debtors in negotiations or communications with Oklahoma government regulatory bodies; e. advise the Debtors concerning executor contract assumptions, assignments and rejections; f. commence and conduct litigation in Oklahoma court necessary and appropriate to assert rights held by the Debtors, protect assets of the Debtors' respective Chapter 11 estates or otherwise further the goal of success in the Debtors' Chapter 11 reorganization, and to defend against any Oklahoma litigation brought against the Debtors; and g. perform all other necessary and appropriate legal services requiring representation under Oklahoma law. Fellers Snider will be paid at these hourly rates: Charles Willing $305 C. Eric Shephard $215 Associates $185-$300 Paraprofessionals $165 Fellers Snider will also be reimbursed for reasonable out-of-pocket expenses incurred. C. Eric Shephard, shareholder of the Law Office of Fellers Snider, 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. Fellers Snider can be reached at: C. Eric Shephard, Esq. LAW OFFICE OF FELLERS SNIDER Chase Tower 100 N. Broadway, Suite 1700 Oklahoma City, OK 73102-9211 Tel: (405) 239-7223 Fax: (405) 232-9659 E-mail: EShephard@FellersSnider.com About Core Resources Core Resources Management, Inc., sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Ariz. Case No. 16-06712) on June 13, 2016. The petition was signed by Dennis Miller, chief operating officer. The case is assigned to Judge Brenda K. Martin. At the time of the filing, the Debtor estimated its assets and debts at $1 million to $10 million. Hauf PLC serves as counsel to the Debtor. The U.S. Trustee, on July 15, 2016, appointed three creditors to serve in the official committee of unsecured creditors in the Debtors' cases. Dickinson Wright PLLC serves as counsel to the Committee. CORNERSTONE DENTISTRY: U.S. Trustee Unable to Appoint Committee --------------------------------------------------------------- The Office of the U.S. Trustee disclosed in a court filing that no official committee of unsecured creditors has been appointed in the Chapter 11 case of Cornerstone Dentistry, PC. Cornerstone Dentistry, PC filed a Chapter 11 petition (Bankr. N.D. Ga. Case No. 16-64635-jrs), on August 22, 2016. The Debtor's counsel is Paul Reece Marr, Esq. at Paul Reece Marr, P.C. The Debtor operates an in-patient dental practice located at leased premises having an address of 2463 Hamilton Mill Parkway, Suite 240, Dacula, Georgia 30019. At one point the Debtor had a second location in Norcross, Georgia, but that location proved to be unprofitable and the Debtor closed the Norcross location January 2015. Dr. Edward McDonald, DDS, a dentist licensed in the State of Georgia, is the sole owner and officer of the Debtor. The Debtor has six employees including Dr. McDonald. Dr. McDonald's wife, Neva McDonald, is a bookkeeper and administrative assistant. No other insiders are on the payroll. CREATIVE FOODS: Hires Fornaro as Bankruptcy Counsel --------------------------------------------------- Creative Foods, LLC, d/b/a Scapa Italian Kitchen, seeks authority from the U.S. Bankruptcy Court for the Northern District of Illinois to employ Fornaro Law Office as bankruptcy counsel to the Debtor. Creative Foods requires Fornaro to provide the Debtor legal representation in relation to the preparation, filing and administration of a bankruptcy case under Chapter 11 of the Bankruptcy Code. Fornaro will be paid at these hourly rates: Philip M. Fornaro, Managing Attorney $350 Charles Topping, Attorney $275 Mark Scarlato, Attorney $275 Tim Foley, Attorney $275 Heather Neveu, Attorney $275 Amy Lara, Attorney $225 Mark Galler, Attorney $225 Mary Ann Bryk, Paralegal $150 Heather Cavanaugh, Legal Assistant $130 Allison Walsh, Legal Assistant $130 Law Clerks $50 Fornaro will be paid a retainer in the amount of $15,000. Fornaro will also be reimbursed for reasonable out-of-pocket expenses incurred. Philip M. Fornaro, member of the law firm of Fornaro Law Office, 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 Debtor and its estates. Fornaro can be reached at: Philip M. Fornaro, Esq. FORNARO LAW OFFICE 1022 S. La Grange Road La Grange, IL 60525 Tel: (708) 639-4320 Fax: (708) 390-0665 E-mail: philip@fornarolaw.com About Creative Foods, LLC Creative Foods, LLC filed a chapter 11 petition (Bankr. N.D. Ill. Case No. 16-19927) on June 17, 2016. The petition was signed by Anthony Swigon, general manager - member. The Debtor is represented by David P. Lloyd, Esq., at David P. Lloyd, Ltd. The case is assigned to Judge Jack B. Schmetterer. The Debtor estimated assets at $0 to $50,000 and liabilities of $1 million to $10 million at the time of the filing. No official committee of unsecured creditors has been appointed in the case. CRESCENT HAUS: Hires Arnold Elite as Real Estate Broker ------------------------------------------------------- Crescent Haus Properties, LLC, seeks authority from the U.S. Bankruptcy Court for the Eastern District of Texas to employ Arnold Elite as real estate broker to the Debtor. Crescent Haus requires Elite to market and sell the Debtor's property located at 7121 Schafer Street, Dallas, Texas, 75252. Elite will be paid a commission of 6% of the sales price of the property. Ryan Kasmiersky, member of Arnold Elite, 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 Debtor and its estates. Elite can be reached at: ARNOLD ELITE 3699 McKinney Ave., Suite 222 Dallas, TX 75204 Tel: (214) 707-3852 E-mail: ryan@arnoldelite.com About Crescent Haus Crescent Haus Properties, LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Tex. Case No. 16-40996) on June 6, 2016, disclosing under $1 million in both assets and liabilities. The Debtor is represented by Joyce W. Lindauer, Esq., at Joyce W. Lindauer Attorney PLLC. No official committee of unsecured creditors has been appointed in the case. CROFCHICK REALTY: Ordered to Revise Disclosure Statement -------------------------------------------------------- A U.S. bankruptcy judge has ordered Crofchick Realty, LLC, to file an amended disclosure statement explaining its proposed Chapter 11 plan of reorganization. In his order, Judge Robert Opel II of the U.S. Bankruptcy Court for the Middle District of Pennsylvania gave the company 30 days to file an amended disclosure statement. The bankruptcy judge sustained the objections to the disclosure statement filed by the Pennsylvania Department of Revenue, PNC Bank N.A., and the Office of the U.S. Trustee. The Pennsylvania Department of Revenue had objected to the disclosure statement, saying it does not contain information about Crofchick's delinquent Pennsylvania tax filing obligations. About Crofchick Realty Crofchick Realty, LLC, filed for Chapter 11 bankruptcy protection (Bankr. M.D. Pa. Case No. 15-03724) on Aug. 30, 2015. Tullio DeLuca, Esq., serves as the Debtor's bankruptcy counsel. CROWN DRILLING: Involuntary Chapter 11 Case Summary --------------------------------------------------- Alleged Debtor: Crown Drilling, Inc 1026 O'Neal Drive Breaux Bridge, LA 70517 Case Number: 16-51321 Type of Business: Operates as a drilling contracting company in Lafayette, Louisiana. Involuntary Chapter 11 Petition Date: September 23, 2016 Court: United States Bankruptcy Court Western District of Louisiana (Lafayette) Judge: Hon. Robert Summerhays Petitioners' Counsel: Craig A. Ryan, Esq. ONEBANE LAW FIRM POB 3507 Lafayette, LA 70502-3507 Tel: (337) 237-2660 Fax: (337) 266-1232 E-mail: ryanc@onebane.com - and - Emile Joseph, Jr., Esq. ALLEN & GOOCH POB 81129 Lafayette, LA 70598-1129 Tel: (337) 291-1000 Fax: (337) 291-1200 E-mail: emilejoseph@allengooch.com Alleged creditors who signed the petition: Petitioners Nature of Claim Claim Amount ----------- --------------- ------------ Intracoastal Liquid Mud, Inc. Services, Labor $92,666 P. O. Box 51784 Materials Lafayette, LA 70505 Gordon Reed & Associates, Inc. Services, Labor $97,325 136 Heartwood Circle Materials Lafayette, LA 70503 Energy Drilling Fluids, LLC Services, Labor $13,134 2020 W. Pinhook, Suite 302 Materials Lafayette, LA 70508 CRYOPORT INC: Changes Fiscal Year End to Dec. 31 ------------------------------------------------ The Board of Directors of Cryoport, Inc., on Sept. 21, 2016, adopted a resolution to change the Company's fiscal year end from March 31 to Dec. 31, effective immediately as of the date of the board resolution. Consequently, the Company will file an annual report on Form 10-K for the nine-month period ended Dec. 31, 2016, to cover that transition period. About Cryoport Lake Forest, Calif.-based CryoPort, Inc. (OTC BB: CYRX) provides comprehensive solutions for frozen cold chain logistics, primarily in the life science industries. Its solutions afford new and reliable alternatives to currently existing products and services utilized for bio-pharmaceuticals and biologics, including in-vitro fertilization, cell lines, vaccines, tissue and other commodities requiring a reliable frozen solution. Cryoport reported a net loss attributable to common stockholders of $15.05 million on $5.88 million of revenues for the year ended March 31, 2016, compared to a net loss attributable to common stockholders of $12.19 million on $3.93 million of revenues for the year ended March 31, 2015. KMJ Corbin & Company LLP, in Costa Mesa, California, issued a "going concern" qualification on the consolidated financial statements for the year ended March 31, 2016, citing that the Company has recurring operating losses from inception and has used substantial amounts of working capital in its operations. Although the Company has cash and cash equivalents of $2.8 million at March 31, 2016, management has estimated that cash on hand will only be sufficient to allow the Company to continue its operations through the third quarter of fiscal 2017. These matters raise substantial doubt about the Company's ability to continue as a going concern. CRYOPORT INC: Extends Warrants Tender Offer Until Oct. 14 --------------------------------------------------------- CryoPort, Inc., extended its issuer tender offer with respect to the Company's outstanding warrants to purchase one share of common stock at an exercise price of $3.57 per share until 5:00 p.m., Eastern Time on Oct. 14, 2016, unless further extended by the Company. The Offer had been previously scheduled to expire at 5:00 p.m., Eastern Time on Sept. 23, 2016. As of 1:00 p.m., Pacific Time on Sept. 23, 2016, 1,603,398 Original Warrants were tendered by holders of Original Warrants in connection with the Offer. About Cryoport Lake Forest, Calif.-based CryoPort, Inc. (OTC BB: CYRX) provides comprehensive solutions for frozen cold chain logistics, primarily in the life science industries. Its solutions afford new and reliable alternatives to currently existing products and services utilized for bio-pharmaceuticals and biologics, including in-vitro fertilization, cell lines, vaccines, tissue and other commodities requiring a reliable frozen solution. Cryoport reported a net loss attributable to common stockholders of $15.05 million on $5.88 million of revenues for the year ended March 31, 2016, compared to a net loss attributable to common stockholders of $12.19 million on $3.93 million of revenues for the year ended March 31, 2015. KMJ Corbin & Company LLP, in Costa Mesa, California, issued a "going concern" qualification on the consolidated financial statements for the year ended March 31, 2016, citing that the Company has recurring operating losses from inception and has used substantial amounts of working capital in its operations. Although the Company has cash and cash equivalents of $2.8 million at March 31, 2016, management has estimated that cash on hand will only be sufficient to allow the Company to continue its operations through the third quarter of fiscal 2017. These matters raise substantial doubt about the Company's ability to continue as a going concern. CRYOPORT INC: Stockholders Elect Five Directors ----------------------------------------------- Cryoport, Inc., held its 2016 annual meeting of stockholders on Sept. 21, 2016, at which the stockholders: (a) elected Richard Berman, Dr. Robert Hariri, M.D., Ph.D., Dr. Ramkumar Mandalam, Ph.D., Jerrell Shelton and Edward Zecchini as directors to serve until the Company's 2017 Annual Meeting of Stockholders; (b) ratified the Audit Committee's selection of KMJ Corbin & Company LLP as the Company's independent registered public accounting firm for the fiscal year ending March 31, 2017; (c) approved the potential issuance of more than 20% of the Company's issued and outstanding common stock in connection with the warrant exchange offer; (d) approved, on an advisory basis, the compensation of the named executive officers, as disclosed in the proxy statement for the 2016 Annual Meeting of Stockholders; and (e) approved the adjournment of the meeting, if necessary to solicit additional proxies if there are not sufficient votes at the time of the meeting to approve the shares issuance proposal. About Cryoport Lake Forest, Calif.-based CryoPort, Inc. (OTC BB: CYRX) provides comprehensive solutions for frozen cold chain logistics, primarily in the life science industries. Its solutions afford new and reliable alternatives to currently existing products and services utilized for bio-pharmaceuticals and biologics, including in-vitro fertilization, cell lines, vaccines, tissue and other commodities requiring a reliable frozen solution. Cryoport reported a net loss attributable to common stockholders of $15.05 million on $5.88 million of revenues for the year ended March 31, 2016, compared to a net loss attributable to common stockholders of $12.19 million on $3.93 million of revenues for the year ended March 31, 2015. KMJ Corbin & Company LLP, in Costa Mesa, California, issued a "going concern" qualification on the consolidated financial statements for the year ended March 31, 2016, citing that the Company has recurring operating losses from inception and has used substantial amounts of working capital in its operations. Although the Company has cash and cash equivalents of $2.8 million at March 31, 2016, management has estimated that cash on hand will only be sufficient to allow the Company to continue its operations through the third quarter of fiscal 2017. These matters raise substantial doubt about the Company's ability to continue as a going concern. CRYSTAL ENTERPRISES: Asks Permission to Use Cash Collateral ----------------------------------------------------------- Crystal Enterprises, Inc. seeks permission from the U.S. Bankruptcy Court for the District of Maryland to use the cash collateral of Associated Receivables Funding, Inc., Strategic Funding, and the State of Maryland, Central Collection Unit. Pursuant to several loans guaranteed by its accounts receivables, the Debtor granted Associated Receivables Funding, Inc. and Strategic Funding a security interest in accounts receivable. The State of Maryland, Central Collection Unit has a judgment against the Debtor that has priority. The Debtor proposes to use the cash collateral of Associated Receivables in the approximate amount of $519,724, cash collateral of approximately $167,010 from the State of Maryland, Central Collection Unit, and cash collateral of approximately $677,000 from Strategic Funding in order to fund the Debtor's operations through October 31, 2016. The Debtor tells the Court that there is insufficient time for a full hearing because its finances are dire in that the Debtor needs at least $180,000 by Sept. 21, 2016 in order to meet its payroll, union, and payroll tax obligations, so that if the Debtor is not allowed to use the cash collateral, it will not be able to do so. The Debtor proposes to use cash collateral, which consists of cash on hand and receivables, for: (a) Care, maintenance and preservation of the Debtor’s assets; (b) Payment of necessary payroll and other business expenses; (c) Purchase of goods and services, including inventory; and (d) Continued business operations. The Debtor's proposed 4-week budget provides for total weekly expenses in the amount of $557,882. A full-text copy of the Debtor's Motion dated September 19, 2016 is available at http://tinyurl.com/jengoxb A full-text copy of the Debtor's proposed Budget is available at http://tinyurl.com/jyy48uc About Crystal Enterprises, Inc. Crystal Enterprises, Inc. is in the business of operating a food service company and is located in Glenn Dale, Maryland. Crystal Enterprises, Inc. filed a Chapter 11 petition (Bankr. D. Md. Case No. 16-22565), on September 19, 2016. The petition was signed by Sandra Thurman Custis, president. The case is assigned to Judge Wendelin I. Lipp. The Debtor is represented by Rowena Nicole Nelson, Esq., at the Law Office of Rowena N. Nelson, LLC. At the time of filing, the Debtor disclosed total assets of $114,844 and total liabilities of $3.36 million. A copy of the Debtor's list of 20 largest unsecured creditors is available for free at http://bankrupt.com/misc/mdb16-22565.pdf No trustee or examiner has been appointed in this case and no official committees have yet been appointed. D & D WARNER: Selling Shadow Lands Property to Fund Ch. 11 Plan --------------------------------------------------------------- D & D Warner Land, LLC, filed with the U.S. Bankruptcy Court for the Eastern District of Michigan a corrected first amended combined plan of reorganization and disclosure statement. Cash payments required under the Plan may be funded from existing cash balances on and after the Effective Date and cash flow from the Debtor's operations and ordinary income. Cash payments will also be funded from net sale proceeds of a 110 acre, 3 parcel property owned by Shadow Lands, LLC, a related entity, which Shadow Lands has voluntarily agreed to remit to the Debtor. Cash payments will also be funded from the repayment of the loan owe to the Debtor by War-AG Farms, LLC. The First Amended Combined Plan and Disclosure Statement is available at http://bankrupt.com/misc/mieb16-45257-36.pdf Headquartered in Tecumseh, Michigan, D & D Warner Land, LLC, is a real estate holding company with virtually no operations outside of making payments on its land contract with the DuRussel entities and collecting rents due on its leasing of the same land. It was organized in July 2014 and has two members: Dale and Dee Warner. The Warners, who are husband and wife, each own an equal membership interest in the Debtor. Dee Warner is the managing member and handles the operations of the Debtor. The Debtor filed for Chapter 11 bankruptcy protection (Bankr. E.D. Mich. Case No. 16-45257) on April 7, 2016, estimating its assets and liabilities at between $1 million and $10 million each. The petition was signed by Dee Warner, resident agent/member. Judge Walter Shapero presides over the case. Stuart A. Gold, Esq., at Gold, Lange & Majoros PC serves as the Debtor's bankruptcy counsel. DAVID PAUL PELCIC: Disclosures Okayed, Plan Hearing on Nov. 7 ------------------------------------------------------------- The U.S. Bankruptcy Court for the District of Arizona will hold an initial hearing to consider confirmation of the Chapter 11 plan of David Paul and Collette Nicole Pelcic on November 7. The hearing will be held at 11:00 a.m., at Courtroom 603, 6th Floor, 230 N. First Avenue, Phoenix, Arizona. The court will also consider at the hearing the final approval of the Debtors' disclosure statement, which it conditionally approved on September 15. The order set an October 31 deadline for creditors to file their ballots and their objections to the plan. About The Pelcics David Paul and Collette Nicole Pelcic sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Ariz. Case No. 15-06323) in 2015. The case is assigned to Judge Daniel P. Collins. Ms. Pelcic had her own law practice in the San Francisco Bay Area but had to file for bankruptcy as her clients became unable to pay legal fees as a result of the great recession in 2008. The Debtors are represented by Thomas H. Allen, Esq., and Khaled Tarazi, Esq., at Allen Barnes & Jones, PLC, in Phoenix, Arizona. DELIVERY AGENT: Hires Epiq as Claims and Noticing Agent ------------------------------------------------------- Delivery Agent, Inc., et al., seek authority from the U.S. Bankruptcy Court for the District of Delaware to employ Epiq Bankruptcy Solutions, LLC as claims and noticing agent to the Debtors. Delivery Agent requires Epiq to: a. prepare and serve required notices and documents in the Chapter 11 case in accordance with the Bankruptcy Code and the Bankruptcy Rules in the form and manner directed by the Debtors or the bankruptcy Court including: (i) notice of the commencement of the Chapter 11 case and the initial meeting of creditors under Section 341(a) of the Bankruptcy Code, (ii) notice of any claims bar date, (iii) notice of transfers of claims, (iv) notices of objections to claims and objections to transfer of claims, (v) notices of any hearings on a disclosure statement and confirmation of the Debtors' plans of reorganization, including under Bankruptcy Rule 3017(d), (vi) notice of the effective date of any plan, and (vii) all other notices, orders, pleadings, publications and other documents as the Debtors or Court may deem necessary or appropriate for an orderly administration of the Chapter 11 case; b. maintain an official copy of the Debtors' schedules of assets and liabilities and statements of financial affairs, listing the Debtors' known creditors and the amount owed thereto; c. maintain (i) a list of all potential creditors, equity holders and other parties-in-interest and (ii) a core mailing list consisting of all parties described in Bankruptcy Rule 2002(i)-(k) and those parties that have filed a notice of appearance pursuant to Bankruptcy Rule 9010; updating and making said lists available upon request by a party-in-interest or the Clerk; d. furnish a notice to all potential creditors of the last date for filing proofs of claim and a form for filing a proof of claim, after such notice and form are approved by the Court, and notify said potential creditors of the existence, amount and classification of their respective claims as set forth in the Schedules, which may be affected by inclusion of such information on a customized proof of claim form provided to potential creditors; e. maintain a post office box or address for the purpose of receiving claims and returned mail, and processing all mail received; f. prepare and file an affidavit or certificate of service within 7 business days of service that includes (i) either a copy of the notice served or the docket numbers and titles of the pleadings served; (ii) a list of persons to whom it was mailed with their addresses; (iii) the manner of service; and (iv) the date served; g. process all proofs of claim received, including those received by the Clerk, checking said processing for accuracy and maintain the original proofs of claim in a secure area; h. maintain the official claims register for each Debtor on behalf of the Clerk; upon the Clerk's request, provide the Clerk with certified, duplicate unofficial Claims Registers; and specify in the Claims Register the following information for each claim docket: (i) the claim number assigned; (ii) the date received; (iii) the name and address of the claimant and agent, if applicable, who filed the claim; (iv) the amount asserted; (v) the asserted classifications of the claim; (vi) the applicable Debtor; and (vii) any disposition of the claim; i. implement necessary security measures to ensure the completeness and integrity of the claims register and the safekeeping of the original claims; j. record all transfers of claims and provide any notices of such transfers as required by the Bankruptcy Rules; k. relocate, by messenger or overnight delivery, all of the court-filed proofs of claim to the offices of Epiq, not less than weekly; l. turn over to the Clerk copies of the claims register for the Clerk's review upon completion of the docketing process for all claims received to date for each case; m. monitor the Court's docket for all notices of appearance, address change, and claims-related pleadings and orders filed and make necessary notations on or changes to the claims register and any service or mailing lists, including to identify and eliminate duplicative names and addresses from such lists; n. identify and correct any incomplete or incorrect addresses in any mailing or service lists; and o. box and transport all original documents, in proper format, as provided by the Clerk's office, to (i) the Federal Archives Record Administration, located at Central Plains Region, 200 Space Center Drive, Lee's Summit, Missouri 64064; or (ii) any other location requested by the Clerk's office; at the close of the Chapter 11 case. Epiq was paid a retainer in the amount of $15,000. Epiq will also be reimbursed for reasonable out-of-pocket expenses incurred. Todd W. Wuertz, member of Epiq Bankruptcy Solutions, LLC, 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. Epiq can be reached at: Todd W. Wuertz EPIQ BANKRUPTCY SOLUTIONS, LLC 757 Third Avenue, Third Floor New York, NY 10017 Tel: (646) 282-2500 About Delivery Agent Headquartered in San Francisco, California, Delivery Agent, Inc., turns audiences into revenue generating customers for brands, device manufacturers, and media companies worldwide. It offers ShopTV, a technology that allows audiences to engage with and transact directly from advertisements and television shows through Web, mobile, and advanced television applications; a cloud-based shopping platform, which enables omni-channel commerce for its clients with simplicity; eCommerce platform for omni-channel shopping; relevant and personalized product offers to viewers based on the content they are watching with the help of contextual database; and advertising solutions. Delivery Agent, Inc., and affiliates MusicToday, LLC, Clean Fun Promotional Marketing, Inc., and Shop the Shows, LLC, sought Chapter 11 protection (Bankr. D. Del. Lead Case No. 16-12051) on Sept. 15, 2016. The Debtors hired Pachulski Stang Ziehl & Jones LLP as local Counsel; Keller & Benvenutti LLP as general counsel; Arch & Beam Global, LLC as financial advisor; and Epiq Bankruptcy Solutions, LLC, as claims and noticing agent. The cases are assigned to Judge Laurie Selber Silverstein. DENMARK MANAGEMENT: Case Summary & 20 Largest Unsecured Creditors ----------------------------------------------------------------- Debtor: Denmark Management Company 23540 Reynolds Court Clinton Township, MI 48036 Case No.: 16-53194 Chapter 11 Petition Date: September 25, 2016 Court: United States Bankruptcy Court Eastern District of Michigan (Detroit) Judge: Hon. Thomas J. Tucker Debtor's Counsel: Ernest Hassan, Esq. STEVENSON & BULLOCK, P.L.C. 26100 American Drive, Suite 500 Southfield, MI 48034 Tel: (248) 354-7906 Fax: (248) 354-7907 E-mail: ehassan@sbplclaw.com Estimated Assets: $0 to $50,000 Estimated Liabilities: $10 million to $50 million The petition was signed by Mark D. Krueger, shareholder. A copy of the Debtor's list of 20 largest unsecured creditors is available for free at http://bankrupt.com/misc/mieb16-53194.pdf DENMARK SERVICES: Case Summary & 20 Largest Unsecured Creditors --------------------------------------------------------------- Debtor: Denmark Services, LLC 23540 Reynolds Court Clinton Township, MI 48036 Case No.: 16-53195 Chapter 11 Petition Date: September 25, 2016 Court: United States Bankruptcy Court Eastern District of Michigan (Detroit) Judge: Hon. Maria L. Oxholm Debtor's Counsel: Ernest Hassan, Esq. STEVENSON & BULLOCK, P.L.C. 26100 American Drive, Suite 500 Southfield, MI 48034 Tel: (248) 354-7906 Fax: (248) 354-7907 E-mail: ehassan@sbplclaw.com Estimated Assets: $0 to $50,000 Estimated Liabilities: $10 million to $50 million The petition was signed by Mark D. Kruger, member. A copy of the Debtor's list of 20 largest unsecured creditors is available for free at http://bankrupt.com/misc/mieb16-53195.pdf DIVERSE ENERGY: Proposes Chapter 11 Liquidating Plan ---------------------------------------------------- Diverse Energy Systems, LLC, filed with the U.S. Bankruptcy Court for the Southern District of Texas its proposed Chapter 11 plan of liquidation. The plan provides for the liquidation of the remaining assets of the company and the distribution of the proceeds to creditors. Diverse Energy considers as its primary remaining asset the amount it will recover from a lawsuit against David Sloan and the law firm of Sloan & Moyer, LLP. The recovery from the lawsuit, along with the remaining cash on hand, will be used to fund payments to creditors. Under the plan, each Class 3 unsecured creditor will receive its pro rata share of net cash, all in one or more distributions made from time to time as may be determined by the liquidating agent. Recoveries for Class 3 unsecured creditors, which assert a total of $28 million in claims, will depend largely on how much Diverse Energy will recover from the lawsuit. It is expected that recoveries for unsecured creditors will not exceed 5% of their claims, according to the company's disclosure statement explaining the plan. A copy of the disclosure statement is available for free at https://is.gd/QkqjKn About Diverse Energy Diverse Energy Systems, LLC, et al., filed Chapter 11 bankruptcy petitions (Bankr. S.D. Tex. Lead Case No. 15-34736) on Sept. 7, 2015. The jointly administered cases have been assigned to Judge Karen K. Brown. Forshey Prostok LLP serves as the Debtor's counsel. SSG Advisors, LLC serves as the Debtor's financial and restructuring advisor. The Debtor tapped Gordon Brothers Asset Advisors, LLC as appraiser. Diverse is the indirect parent of ITS Engineered Systems, Inc. ITS filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code on April 17, 2015. ITS's bankruptcy case is currently pending in this Court as Case No. 15-32145. Diverse is a provider of integrated solution platforms for upstream and midstream customers in the natural gas production, oil production, and water treatment industries. On Oct. 5, 2015, Diverse disclosed total assets of $15,836,103 and total liabilities of $3,261,959. The Debtors closed on the sale of certain assets to Cimarron Acquisition Co. on Jan. 29, 2016. DOUBLE D & M: Plan Outline Okayed, Confirmation Hearing on Oct. 19 ------------------------------------------------------------------ The U.S. Bankruptcy Court for the Northern District of New York will consider approval of the Chapter 11 plan of Double D & M Enterprises, Inc. at a hearing on October 19. The hearing will be held at 10:30 a.m., at the U.S. Courthouse, 445 Broadway, Suite 306, Albany, New York. The court will also consider at the hearing the final approval of the company's disclosure statement, which it conditionally approved on September 15. The order set an October 7 deadline for creditors to file written acceptances or rejections of the plan. Objections to the plan must be filed no later than seven days prior to the hearing. Double D & M is represented by: Michael Toomey, Esq. The Toomey Law Firm PLLC One South Western Plaza P.O. Box 2144 Glens Falls, NY 12801 Phone: 518-743-9000 Email: MichaelJToomeyEsq@nycap.rr.com About Double D & M Enterprises Double D & M Enterprises, Inc. sought protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D.N.Y. Case No. 16-10076) on January 22, 2016. The petition was signed by Daniel Nichols, president. The case is assigned to Judge Robert E. Littlefield, Jr. At the time of the filing, the Debtor estimated assets of less than $50,000 and liabilities of less than $500,000. DPTOPCO LLC: Hires Keele & Associate as Counsel ----------------------------------------------- DPTOPCO LLC seeks authority from the U.S. Bankruptcy Court for the Southern District of Texas to employ Daniel C. Keele of Keele & Assoc as counsel to the Debtor. DPTOPCO LLC requires Keele & Assoc to: a. assist the Debtor with the resolution of all contested claims; b. assist the Debtor with proposing, prosecuting and consummating the plan of reorganization; c. advise the Debtor with regard to any litigation matters that exist or might arise prior to confirmation of the plan of reorganization; d. prepare all appropriate pleadings required to be filed in the case; and e. perform any other legal services that may be appropriate in connection with the reorganization case. Keele & Assoc will be paid at the hourly rate of $250. Keele & Assoc will also be reimbursed for reasonable out-of-pocket expenses incurred. Daniel C. Keele, member of the law firm of Keele & Assoc, 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 Debtor and its estates. Keele & Assoc can be reached at: Daniel C. Keele, Esq. KEELE & ASSOC 1634 Keele Lane Bellville, TX 77418 Tel: (979) 865-4529 E-mail: dckeele@sbcglobal.net About DPTOPCO LLC DPTOPCO LLC, filed a Chapter 11 bankruptcy petition (Bankr. S.D. Tex. Case No. 16-34378) on September 2, 2016, disclosing under $1 million in both assets and liabilities. The Debtor is represented by Daniel C. Keele, Esq., at Keele & Assoc. No official committee of unsecured creditors has been appointed in the case. ENERGY FUTURE: Court OKs Luminant-Buckskin Claims Settlement ------------------------------------------------------------ BankruptcyData.com reported that the U.S. Bankruptcy Court issued an order approving Energy Future Holdings' motion for an order authorizing entry into and performance under a stipulation between Luminant Energy and Buckskin Mining. As previously reported, "The Court's approval of the stipulation will authorize: (a) Buckskin to draw $1 million from the Letter of Credit on the Effective Date and (ii) receive an allowed general unsecured claim against Luminant in the amount of $1,979,718 and (b) the mutual release of all claims relating to the Transaction Confirmation. Pursuant to the transaction confirmation, Luminant has received and paid for $183,639 tons of coal and thus remains obligated to purchase 816,361 additional tons of coal, the remaining tons." About Energy Future Energy Future Holdings Corp., formerly known as TXU Corp., is a privately held diversified energy holding company with a Portfolio of competitive and regulated energy businesses in Texas. Oncor, an 80 percent-owned entity within the EFH group, is the largest regulated transmission and distribution utility in Texas. The Company delivers electricity to roughly three million delivery points in and around Dallas-Fort Worth. EFH Corp. was created in October 2007 in a $45 billion leverage buyout of Texas power company TXU in a deal led by private-equity companies Kohlberg Kravis Roberts & Co. and TPG Inc. On April 29, 2014, Energy Future Holdings and 70 affiliated companies sought Chapter 11 bankruptcy protection (Bankr. D. Del. Lead Case No. 14-10979) after reaching a deal with some key financial stakeholders to keep its businesses operating while reducing its roughly $40 billion in debt. The Debtors' cases have been assigned to Judge Christopher S. Sontchi (CSS). As of Dec. 31, 2013, EFH Corp. reported assets of $36.4 billion in book value and liabilities of $49.7 billion. The Debtors have $42 billion of funded indebtedness. EFH's legal advisor for the Chapter 11 proceedings is Kirkland & Ellis LLP, its financial advisor is Evercore Partners and its restructuring advisor is Alvarez & Marsal. The TCEH first lien lenders supporting the restructuring agreement are represented by Paul, Weiss, Rifkind, Wharton & Garrison, LLP as legal advisor, and Millstein & Co., LLC, as financial advisor. The EFIH unsecured creditors supporting the restructuring agreement are represented by Akin Gump Strauss Hauer & Feld LLP, as legal advisor, and Centerview Partners, as financial advisor. The EFH equity holders supporting the restructuring agreement are represented by Wachtell, Lipton, Rosen & Katz, as legal advisor, and Blackstone Advisory Partners LP, as financial advisor. Epiq Systems is the claims agent. Wilmington Savings Fund Society, FSB, the successor trustee for the second-lien noteholders owed about $1.6 billion, is represented by Ashby & Geddes, P.A.'s William P. Bowden, Esq., and Gregory A. Taylor, Esq., and Brown Rudnick LLP's Edward S. Weisfelner, Esq., Jeffrey L. Jonas, Esq., Andrew P. Strehle, Esq., Jeremy B. Coffey, Esq., and Howard L. Siegel, Esq. An Official Committee of Unsecured Creditors has been appointed in the case. The Committee represents the interests of the unsecured creditors of only of Energy Future Competitive Holdings Company LLC; EFCH's direct subsidiary, Texas Competitive Electric Holdings Company LLC; and EFH Corporate Services Company, and of no other debtors. The Committee has selected Morrison & Foerster LLP and Polsinelli PC for representation in this high-profile energy restructuring. The lawyers working on the case are James M. Peck, Esq., Brett H. Miller, Esq., and Lorenzo Marinuzzi, Esq., at Morrison & Foerster LLP; and Christopher A. Ward, Esq., Justin K. Edelson, Esq., Shanti M. Katona, Esq., and Edward Fox, Esq., at Polsinelli PC. About Energy Future In December 2015, the Bankruptcy Court confirmed the Debtors' Sixth Amended Joint Plan of Reorganization. In May 2016, certain first lien creditors of TCEH delivered a Plan Support Termination Notice to the Debtors and the other parties to the Plan Support Agreement, notifying the parties of the occurrence of a Plan Support Termination Event. The delivery of the Plan Support Termination Notice caused the Confirmed Plan to become null and void. Following the occurrence of the Plan Support Termination Event as well as the termination of a roughly $20 billion deal to sell the Debtors' stake in Oncor Electric Delivery Co., the Debtors filed the Plan of Reorganization and the Disclosure Statement with the Bankruptcy Court on May 1, 2016. On May 11, they filed an amended joint plan of reorganization and a related disclosure statement. In June 2016, Judge Sontchi approved the disclosure statement explaining Energy Future Holdings Corp., et al.'s second amended joint plan of reorganization of the TCEH Debtors and the EFH Shared Services Debtors. On Aug. 27, 2016, Judge Sontchi confirmed the Chapter 11 exit plans of two of Energy Future Holdings Corp.'s subsidiaries, power generator Luminant and retail electricity provider TXU Energy Inc. ENERGY FUTURE: Court OKs Settlement with Texas Comptroller ---------------------------------------------------------- BankruptcyData.com reported that the U.S. Bankruptcy Court issued an order approving Energy Future Holdings' motion for an order approving a settlement with the Texas Comptroller of Public Accounts. As previously reported, "By this Motion, the Debtors seek entry of the Order approving the Settlement with the Texas Comptroller whereby the TCEH Debtors pay the Texas Comptroller $11.8 million for a mutual release of all claims and liens for prepetition taxes asserted by the Texas Comptroller against the Debtors and potential refund claims asserted by the Debtors... In total, the Texas Comptroller has filed assessments totalling approximately $330 million and proofs of claim totalling approximately $150 million. The Texas Comptroller asserts that certain of these amounts are fully secured and may not fully reflect penalties and interest that are owed. Of the $150 million of proofs of claim filed by the Texas Comptroller, approximately $55 million is attributable to the Gross Margin Tax, with the remaining amounts attributable to sales, gross receipts utilities, and direct pay taxes. In total, the Debtors have submitted approximately $48.5 million of disputed or un-finalized refunds and beneficial positions. Of that amount, approximately $11.5 million is related to 'E-side' adjustments, approximately $2.4 million is not readily subject to allocation between the 'E-side' and 'T-side' because they relate to intercompany elimination entries and related items, and the remainder is related to adjustments with respect to the TCEH Debtors, EFH Corporate Services, or EFH Properties Company." About Energy Future Energy Future Holdings Corp., formerly known as TXU Corp., is a privately held diversified energy holding company with a Portfolio of competitive and regulated energy businesses in Texas. Oncor, an 80 percent-owned entity within the EFH group, is the largest regulated transmission and distribution utility in Texas. The Company delivers electricity to roughly three million delivery points in and around Dallas-Fort Worth. EFH Corp. was created in October 2007 in a $45 billion leverage buyout of Texas power company TXU in a deal led by private-equity companies Kohlberg Kravis Roberts & Co. and TPG Inc. On April 29, 2014, Energy Future Holdings and 70 affiliated companies sought Chapter 11 bankruptcy protection (Bankr. D. Del. Lead Case No. 14-10979) after reaching a deal with some key financial stakeholders to keep its businesses operating while reducing its roughly $40 billion in debt. The Debtors' cases have been assigned to Judge Christopher S. Sontchi (CSS). As of Dec. 31, 2013, EFH Corp. reported assets of $36.4 billion in book value and liabilities of $49.7 billion. The Debtors have $42 billion of funded indebtedness. EFH's legal advisor for the Chapter 11 proceedings is Kirkland & Ellis LLP, its financial advisor is Evercore Partners and its restructuring advisor is Alvarez & Marsal. The TCEH first lien lenders supporting the restructuring agreement are represented by Paul, Weiss, Rifkind, Wharton & Garrison, LLP as legal advisor, and Millstein & Co., LLC, as financial advisor. The EFIH unsecured creditors supporting the restructuring agreement are represented by Akin Gump Strauss Hauer & Feld LLP, as legal advisor, and Centerview Partners, as financial advisor. The EFH equity holders supporting the restructuring agreement are represented by Wachtell, Lipton, Rosen & Katz, as legal advisor, and Blackstone Advisory Partners LP, as financial advisor. Epiq Systems is the claims agent. Wilmington Savings Fund Society, FSB, the successor trustee for the second-lien noteholders owed about $1.6 billion, is represented by Ashby & Geddes, P.A.'s William P. Bowden, Esq., and Gregory A. Taylor, Esq., and Brown Rudnick LLP's Edward S. Weisfelner, Esq., Jeffrey L. Jonas, Esq., Andrew P. Strehle, Esq., Jeremy B. Coffey, Esq., and Howard L. Siegel, Esq. An Official Committee of Unsecured Creditors has been appointed in the case. The Committee represents the interests of the unsecured creditors of only of Energy Future Competitive Holdings Company LLC; EFCH's direct subsidiary, Texas Competitive Electric Holdings Company LLC; and EFH Corporate Services Company, and of no other debtors. The Committee has selected Morrison & Foerster LLP and Polsinelli PC for representation in this high-profile energy restructuring. The lawyers working on the case are James M. Peck, Esq., Brett H. Miller, Esq., and Lorenzo Marinuzzi, Esq., at Morrison & Foerster LLP; and Christopher A. Ward, Esq., Justin K. Edelson, Esq., Shanti M. Katona, Esq., and Edward Fox, Esq., at Polsinelli PC. * * * In December 2015, the Bankruptcy Court confirmed the Debtors' Sixth Amended Joint Plan of Reorganization. In May 2016, certain first lien creditors of TCEH delivered a Plan Support Termination Notice to the Debtors and the other parties to the Plan Support Agreement, notifying the parties of the occurrence of a Plan Support Termination Event. The delivery of the Plan Support Termination Notice caused the Confirmed Plan to become null and void. Following the occurrence of the Plan Support Termination Event as well as the termination of a roughly $20 billion deal to sell the Debtors' stake in Oncor Electric Delivery Co., the Debtors filed the Plan of Reorganization and the Disclosure Statement with the Bankruptcy Court on May 1, 2016. On May 11, they filed an amended joint plan of reorganization and a related disclosure statement. In June 2016, Judge Sontchi approved the disclosure statement explaining Energy Future Holdings Corp., et al.'s second amended joint plan of reorganization of the TCEH Debtors and the EFH Shared Services Debtors. On Aug. 27, 2016, Judge Sontchi confirmed the Chapter 11 exit plans of two of Energy Future Holdings Corp.'s subsidiaries, power generator Luminant and retail electricity provider TXU Energy Inc. ENUMERAL BIOMEDICAL: Appoints Wael Fayad Chairman, Pres. and CEO ---------------------------------------------------------------- Enumeral Biomedical Holdings, Inc., announced that Wael Fayad has been appointed chairman, president, and chief executive officer of the Company, effective as of Sept. 21, 2016. Mr. Fayad brings to Enumeral more than two decades of senior executive and business development experience in the life sciences industry. From 2001 to 2014, Mr. Fayad held positions of increasing responsibility at Forest Laboratories, Inc., most recently as corporate vice president, Global Business Development. In that role, he was responsible for business development and alliance management, including the identification, assessment and negotiation of multiple business opportunities. Mr. Fayad helped build and manage a broad network of partnerships at Forest, and upon Forest's acquisition by Actavis, Mr. Fayad also assisted with the integration of the two companies. Mr. Fayad was subsequently engaged in a number of entrepreneurial ventures, including helping to launch V&C Pharmaceuticals, a start-up company focusing on improving healthcare outcomes and reducing the total cost of care. Mr. Fayad continues to serve on V&C Pharmaceuticals' advisory board. Prior to Forest, Mr. Fayad served in positions of increasing responsibility at Schering-Plough and Novartis in the fields of sales, marketing, and new product development. Mr. Fayad holds a B.S. in biology from the American University of Beirut, and an M.B.A. from Concordia University. In connection with Mr. Fayad's appointment as chairman, president, and chief executive officer, John J. Rydzewski stepped down as Enumeral's executive chairman and from the Company's Board of Directors. Arthur H. Tinkelenberg, Ph.D., Enumeral's former president and chief executive officer, also stepped down from the Company's Board of Directors. "I am very excited to join Enumeral, a company with distinguished science in the fields of immuno-oncology and the immune response to disease," said Mr. Fayad. "I am especially encouraged by the progress Enumeral has made in building and validating its platform and advancing highly differentiated programs. I look forward to further harnessing the power of Enumeral's platform, and to accelerating the company's evolution to advance treatments that meet compelling patient needs in cancer and other diseases." "We are particularly pleased to have Wael lead Enumeral as Chairman and Chief Executive Officer, and we thank Art and John for their many contributions since the Company's founding," said Robert Van Nostrand, the Company's lead independent director. "We are now embarking on a new chapter in Enumeral's history as we seek to further advance the Company's core platform capabilities and antibody drug discovery efforts." "Wael is a life sciences industry veteran with a deep network of commercial relationships that can help to unlock the value of Enumeral's platform," said Allan Rothstein, a member of the Company's Board of Directors. "Wael clearly recognizes our company's potential, which itself is further validation of what we have built at Enumeral." The Company entered into an offer letter with Mr. Fayad, dated Sept. 21, 2016. The Letter Agreement provides that Mr. Fayad will receive a base salary at the rate of $325,000 per annum. Mr. Fayad will also be eligible to earn a target bonus of up to 50% of the base salary, payable in cash, based upon achievement of corporate objectives, individual objectives, and the Company's finances, all as determined and at the discretion of the independent members of the Board or the Board's Compensation Committee. A full-text copy of the Form 8-K filing with the Securities and Exchange Commission is available for free at https://is.gd/FyS9jN About Enumeral Enumeral Biomedical Holdings, Inc., is engaged in the discovery of monoclonal antibodies and other novel biologics for the diagnosis and treatment of cancer, infectious and inflammatory diseases. The Company is currently focused on developing next generation antibodies that are more precise in their effects on tumor- and tissue-inflitrating lymphocyte functions via modulation of regulatory proteins known as checkpoints. As of June 30, 2016, Enumeral had $3.49 million in total assets, $3.31 million in total liabilities and $172,770 in total stockholders' equity. Enumeral reported net income of $3.29 million in 2015 following a net loss of $8.17 million in 2014. Friedman LLP, in New York, New York, issued a "going concern" qualification on the consolidated financial statements for the year ended Dec. 31, 2015, citing tha the Company has recurring losses which raise substantial doubt about its ability to continue as a going concern. ESTUDIO LEGAL: Disclosure Statement OK'd, Plan Hearing on Nov. 16 ----------------------------------------------------------------- Estudio Legal Loiza, CSP, is now a step closer to emerging from Chapter 11 protection after a bankruptcy judge approved the outline of its plan of reorganization. Judge Brian Tester of the U.S. Bankruptcy Court for the District of Puerto Rico gave the thumbs-up to the disclosure statement after finding that it contains "adequate information." A court hearing to consider confirmation of the plan is scheduled for November 16, at 9:00 a.m. The hearing will take place at the Jose V. Toledo, Federal Building & U.S. Courthouse, Courtroom No. 1, Second Floor, 300 Del Recinto Sur Street, Old San Juan, Puerto Rico. About Estudio Legal Loiza, CSP Estudio Legal Loiza, CSP sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D.P.R. Case No. 15-07537) on September 29, 2015. The debtor is represented by Robert Millan, Esq., at Millan Law Offices. The case is assigned to Judge Brian K. Tester. EXCELIUM MANAGEMENT: U.S. Trustee Unable to Appoint Committee ------------------------------------------------------------- The Office of the U.S. Trustee on Sept. 23 disclosed in a court filing that no official committee of unsecured creditors has been appointed in the Chapter 11 case of Excelium Management, LLC. Excelium Management, LLC, sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 16-21608) on August 24, 2016. The petition was signed by Sushma Chhabra, managing member. The Debtor is represented by Paul Decailly, Esq., at DeCailly Law Group, PA. At the time of the filing, the Debtor estimated assets of less than $50,000 and liabilities of less than $1 million. FALCON GENOMICS: Hires Steidl & Steinberg as Counsel ---------------------------------------------------- Falcon Genomics, Inc., seeks authority from the U.S. Bankruptcy Court for the Western District of Pennsylvania to employ Steidl & Steinberg, P.C. as counsel to the Debtor. Falcon Genomics requires Steidl & Steinberg to represent the Debtor in the administration of the estate in the bankruptcy proceedings. Steidl & Steinberg will be paid at the hourly rate of $300, and a retainer in the amount of $5,000, plus filing fee of $1,717. Steidl & Steinberg will also be reimbursed for reasonable out-of-pocket expenses incurred. Christopher M. Frye, member of the law firm of Steidl & Steinberg, P.C., assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) and 327 of the Bankruptcy Code and does not represent any interest adverse to the Debtor and its estates. Steidl & Steinberg can be reached at: Christopher M. Frye, Esq. Steidl & Steinberg, P.C. Suite 2828 The Gulf Tower 707 Grant Street Pittsburgh, PA 15219 Tel: (412) 391-8000 E-mail: Chris.frye@steidl-steinberg.com About Falcon Genomics Falcon Genomics, Inc. sought protection under Chapter 11 of the Bankruptcy Code (Bankr. W. D. Pa. Case No. 16-23254) on September 1, 2016. The petition was signed by Rula Abbud-Antaki, president. The case is assigned to Judge Carlota M. Bohm. The Debtor is represented by Christopher M. Frye, Esq., and Kenneth Steidl, Esq., at Steidl & Steinberg. At the time of the filing, the Debtor estimated its assets at $10 million to $50 million and debts at $100,000 to $500,000. No official committee of unsecured creditors has been appointed in the case. FANSTEEL INC: Court Allows Cash Collateral Use Through Sept. 28 --------------------------------------------------------------- Judge Anita L. Shodeen of the U.S. Bankruptcy Court for the Southern District of Iowa authorized Fansteel, Inc. and its affiliated Debtors to use cash collateral on an interim basis, pursuant to the Debtors' Stipulation with TCTM Financial FS, LLC. The Parties agreed for the Debtors to use Cash Collateral on a two-week interim basis, pursuant to the terms and conditions contained in the Stipulation. The approved 4-Week Budget covers the period from Sept. 19, 2016 to Oct. 7, 2016, and projects total expenses in the amount of $616,191. The Parties have agreed on the following adequate protection: (a) The Debtors will grant TCTM a validly perfected first priority lien on and security interest in the Debtors' postpetition Collateral subject to existing valid, perfected and superior liens in the Collateral held by other creditors, if any, and the Carve-Out. (b) The Debtors will grant TCTM a super-priority claim that will have priority in the Debtor’s bankruptcy case over all priority claims and unsecured claims against the Debtor and its estate, subject and subordinate only to the Carve-Out and not to any other unsecured claim, having administrative priority or otherwise. (c) The Debtor will make post-petition monthly payments, payable on the last business day of each month, in an amount equal to the default interest rate payable under the Loan Agreement, including, for the avoidance of doubt, payment of all prepetition accrued and unpaid interest under the Loan Agreement. (d) The Debtors will pay in cash all reasonable and documented out-of-pocket fees and expenses of TCTM that have accrued as of the Commencement Date and accrue on after the Commencement Date. The Parties will work in good faith during the two-week interim period to determine the budget for TCTM’s professional fees. A further hearing on the Debtor's use of cash collateral is scheduled on September 28, 2016. A full-text copy of the Stipulation and Consent Order dated September 19, 2016 is available at http://tinyurl.com/hsrfms2 TCTM Financial FS, LLC is represented by: Ray C. Schrock, P.C. Jill Frizzley, Esq. WEIL, GOTSHAL & MANGES LLP 767 Fifth Avenue New York, NY 10153 Telephone: (212) 310-8000 - and - Julie Johnson McLean, Esq. Mark D. Walz, Esq. Davis, Brown, Koehn, Shors & Roberts, P.C. 215 10th Street, Ste. 1300 Des Moines, IA 50309 Telephone: (515) 288-2500 About Fansteel Headquartered in Creston, Iowa, Fansteel operates four business units at four locations in the USA and one in Mexico with a workforce of more than 600 employees. Fansteel generated approximately $87.4 million in revenue in 2015 on a consolidated basis. WDC contributes approximately 67% of Fansteel's sales. The rest of the sales are generated from Intercast, a division of Fansteel, and other non-debtor subsidiaries, as disclosed in court documents. Fansteel, Inc. dba Fansteel Intercast dba Fansteel Wellman Dynamics dba Fansteel American Sintered Technologies, Wellman Dynamics Corporation, and Wellman Dynamics Machinery & Assembly, Inc. each filed chapter 11 petitions (Bankr. S.D. Iowa Case Nos. 16-01823, 16-01825, 16-01827) on September 13, 2016. The petitions were signed by Jim Mahoney, CEO. The Debtors are represented by Jeffrey D. Goetz, Esq. and Krystal R. Mikkilineni, Esq., at Bradshaw, Fowler, Proctor & Fairgrave, P.C. The case is assigned to Judge Anita L. Shodeen. The Debtors disclosed total assets of $32.9 million and total debts of $41.97 million as of the bankruptcy filing. FANSTEEL INC: U.S. Trustee Forms 9-Member Committee --------------------------------------------------- The U.S. Trustee for Region 12 on Sept. 23 appointed nine creditors of Fansteel Inc. to serve on the official committee of unsecured creditors. The committee members are: (1) Clausen Miller P.C. c/o Vinvent McInerney 10 S. LaSalle St. Chicago, IL 60603 Phone: (312) 606-7645 Fax: (312) 606-7777 Email: vmcinerney@claussen.com (2) M.A. Steel Foundry Limited c/o Isidro Ang 4820 78th Ave SE Calgary, AB Canada T2C 2W9 Phone: (403) 236-1682 Fax: (309) 236-0891 Email: masteel@temsplanet.net (3) Precision Calibration & Testing c/o Frank v. Kelkis 3799 Concord Rd. York, PA 17402 Phone: (717) 840-4994 Fax: (717) 840-4995 Email: fkelkis@pctcorp.com (4) Reade Manufacturing Company c/o Ken Clark, VP 4601 Westown Pkwy, Suite 130 West Des Moines, IA 50266 Phone: (515) 421-4100 Fax: (515) 421-4129 Email: ken.clark@magnesium-elektronusa.com (5) Integrated Quality Systems Inc. c/o Richard K. Vesely 122 Crane Dr. Kittanning, PA 16201 Phone: (724) 584-0107 Fax: (724) 545-2646 Email: rich@integratedqs.com (6) R-Con Nondestructive Test Consultants c/o Loren Sandberg 5605 Freitag Dr. Menomonie, WI 54751 Phone: (715) 235-7222 Fax: (715) 233-3460 Email: lorens@rcon-ndt.com (7) Phoenix Environmental Enterprises, Inc. c/o Ricklin L. Heintz 902 E. 2nd St., #250 Winona, MN 55987 Phone: (507) 261-2037 Fax: (651) 204-3458 Email: ricklin@HBCI.com (8) PCX Aerostructures, LLC c/o Timothy J. Fagan 300 Fenn Rd. Newington, CT 06111 Phone: (860) 594-4392 Email: tim.fagan@pcxaero.com (9) William F. Bieber c/o Timothy McFadden Barnes & Thornburg, LLP One North Wacker Drive, Suite 4400 Chicago, IL 60606-2833 Phone: (312) 214-4588 Fax: (312) 759-5646 Email: Timothy.McFadden@btlaw.com 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 Fansteel Headquartered in Creston, Iowa, Fansteel operates four business units at four locations in the USA and one in Mexico with a workforce of more than 600 employees. Fansteel generated approximately $87.4 million in revenue in 2015 on a consolidated basis. WDC contributes approximately 67% of Fansteel's sales. The rest of the sales are generated from Intercast, a division of Fansteel, and other non-debtor subsidiaries, as disclosed in court documents. Fansteel, Inc., and subsidiaries Wellman Dynamics Corporation and Wellman Dynamics Machinery & Assembly Inc., each filed a voluntary petition under Chapter 11 of the Bankruptcy Code. The cases are pending in the U.S. Bankruptcy Court for the Southern District of Iowa (Bankr. S.D. Iowa proposed Lead Case No. 16-01823) before Judge Anita L. Shodeen. The Debtors listed total assets of $32.9 million and total debts of $41.97 million as of the bankruptcy filing. FLOYD INDUSTRIES: Wants to Use United Cumberland Cash Collateral ---------------------------------------------------------------- Floyd Industries, LLC requests the U.S. Bankruptcy Court for the Western District of Kentucky for authorization to use cash collateral and to grant adequate protection to United Cumberland Bank. The Debtor is indebted to United Cumberland Bank in the approximate amount of $3,773,277, exclusive of accrued but unpaid interest, costs, fees, and expenses. United Cumberland Bank was granted a priority security interest in all assets of the Debtor. The Debtor intends to use the cash collateral for the operation of its business during the pendency of the bankruptcy proceedings, in accordance with the terms of a proposed 13-week Budget, as well as for the payment of allowed professional fees and expenses. The Debtor's proposed Budget, which covers the period beginning Sept. 23, 2016 and ending on Dec. 16, 2016, projects total expenses of approximately $496,544. The Debtor proposes to grant United Cumberland Bank: (a) replacement liens on the Prepetition Collateral; (b) periodic interest only payments and monthly principal payments on equipment loan; and (c) an allowed claim under section 507(b) of the Bankruptcy Code to the extent of any diminution in United Cumberland Bank's interest in the Cash Collateral, subject only to the Carve-Out. A full-text copy of the Debtor's Motion, dated September 19, 2016, is available at http://tinyurl.com/jbekld9 A full-text copy of the Debtor's proposed Budget, dated September 19, 2016, is available at http://tinyurl.com/gwc3euw About Floyd Industries, LLC Floyd Industries, LLC filed a Chapter 11 petition (Bankr. W.D. Ky. Case No. 16-10837), on September 19, 2016. The petition was signed by Bryan Floyd, member. The case is assigned to Judge Joan A. Lloyd. The Debtor is represented by Travis Kent Barber, Esq. at Barber Law PLLC of Lexington, KY. At the time of filing, the Debtor estimated assets and liabilities at $1 million to $10 million. A copy of the Debtor's list of 18 largest unsecured creditors is available for free at http://bankrupt.com/misc/kywb16-10837.pdf FRANCIS MACHI, JR.: Lakewood Offers $153K for Pittsburgh Property ----------------------------------------------------------------- Jeffrey J. Sikirica, Trustee for Francis M. Machi, Jr., asks the U.S. Bankruptcy Court for the Western District of Pennsylvania to authorize the sale of real property located at 4605 Carlton Street, Pittsburgh, Allegheny County, Pennsylvania and identified as tax parcel 0049-C-00216-0000-00 ("Real Estate"), to Lakewood Management Group, LLC, or its assigns for $153,000, subject to overbid. Erin P. Dyer, Esq., at Dyer Law Firm, P.C., holds a first mortgage claim on the Real Estate. Dyer filed a proof of claim at 13-1 in the amount of $44,329 and then an amended claim at 13-2 in the amount of $65,467 without any supporting documentation. The Treasurer City of Pittsburgh, Treasurer School District of Pittsburgh, Treasurer County of Allegheny and Jordan Tax Service, Inc. ("Taxing Authorities") represent any unpaid real taxes assessed against the real property. Amounts owed to the Taxing Authorities will be determined, pro-rated and paid at the closing on the sale of the Real Estate. The Pittsburgh Water & Sewer Authority ("Municipal Authority") holds an unpaid municipal sewage and water liens against the real property. Amounts owed to the Municipal Authority will be determined and paid at the closing on the sale of the Real Estate. The City of Pittsburgh entered on the "In Rem Judgment Index" a lien for $28,000 against 5164 Butler Street for razing and removal of certain property through condemnation on June 4, 2008 at Docket GD-08-010868 in the Court of Common Pleas of the County of Allegheny County ("Allegheny County Court"). The claim, if any, of the City of Pittsburgh against the real property will transfer to sales proceeds pending further Order of the Court. Wells Fargo Bank, N.A. holds an "in rem judgement" on real estate of the Debtor located at 3823 Mintwood Street Pittsburgh, Pennsylvania and is listed for notice purposes only. The judgment is filed at Docket GD-08-011422 in the Allegheny County Court and the writ of levy is currently stayed. Gerald Laychak has filed a postpetition complaint against the Debtor on Aug. 4, 2016 at Docket AR-16-002898 in the Allegheny County Court for $4,071 related to work performed by the Debtor. The matter has not as yet been reduced to judgment. The claim, if any, of "Laychak" against the real property will transfer to sales proceeds pending further Order of the Court. Mark Machi, had filed a complaint against the Debtor on Feb. 16, 2010 at Docket GD-10-003006 in the Allegheny County Court for $50,000. It is believed the matter was resolved pursuant to a Settlement Agreement approved by the Court on March 9, 2016 at Docket 350 and is not a lien on the Real Estate. Mark Machi is being listed as a respondent for notice purposes only. The Trustee has received an offer of $153,000 from Lakewood. A copy of the Standard Agreement for the Sale of Real Estate attached to the Motion is available for free at: http://bankrupt.com/misc/Francis_Machi_438_Sales.pdf The Trustee requests that the proposed sale be ordered to take place "as is, where is," and with all faults and with no representations and/or warranties of any kind, free and clear of any and all liens, claims, and encumbrances. The Trustee submits that the purchase price will be distributed at the closing as follows consistent with the order approving the sale: a. Real estate transfer taxes estimated in the amount of 2% of the final sales price to be prorated between the successful bidder and the Debtor; b. Real estate taxes for the school district, county and Township, including all delinquent real estate taxes due at the time of the closing prorated between the Successful Bidder and the Debtor on the date of closing; c. Municipal liens for sewage and water due at the time of closing; d. Real estate broker's commission and fees of 6% of the final sale price plus $395; and e. Normal miscellaneous closing costs related to documentation, lien letters, etc. The balance of the proceeds will be held in trust by the Trustee pending distribution pursuant to further Order of Court. The Trustee, using its reasoned business judgment, believe that the best way to maximize the value of the asset is to sell the asset in the form and manner contemplated in the Motion. Francis M. Machi, Jr., sought Chapter 11 protection (Bankr. W.D. Pa. Case No. 14-23154) in 2014. FRENCH OPEN: Voluntary Chapter 11 Case Summary ---------------------------------------------- Debtor: French Open LLC c/o Maccabi Realty 123 Church Avenue, First Floor Brooklyn, NY 11218 Case No.: 16-44254 Nature of Business: Single Asset Real Estate Chapter 11 Petition Date: September 23, 2016 Court: United States Bankruptcy Court Eastern District of New York (Brooklyn) Judge: Hon. Nancy Hershey Lord Debtor's Counsel: Bruce Weiner, Esq. ROSENBERG MUSSO & WEINER, LLP 26 Court Street, Suite 2211 Brooklyn, NY 11242 Tel: (718) 855-6840 Fax: 718-625-1966 E-mail: courts@nybankruptcy.net Estimated Assets: $500,000 to $1 million Estimated Liabilities: $1 million to $10 million The petition was signed by Rahim Siunykalimi, managing member. The Debtor did not include a list of its largest unsecured creditors when it filed the petition. A full-text copy of the petition is available for free at: http://bankrupt.com/misc/nyeb16-44254.pdf FRONTIER HOTELS: Hires James Jameson as Attorney ------------------------------------------------ Frontier Hotels, Inc. seeks authorization from the U.S. Bankruptcy Court for the Southern District of Texas to employ James B. Jameson & Associates, P.C. as attorney, nunc pro tunc to the September 5, 2016 petition date. The Debtor requires the Jameson firm to: (a) take all necessary actions to protect and preserve the estate of the Debtor, including the prosecution of actions on the Debtor's behalf, the defense of any actions commenced against the Debtor, the negotiation of disputes in which the Debtor is involved, and the preparation of objections to claims filed against the Debtor's estate; (b) prepare on behalf of the Debtor all necessary motions, applications, answers, orders, reports, and papers in connection with the administration and prosecution of the Debtor's Chapter 11 case; (c) assist the Debtor in connection with any proposed sale of assets pursuant to Bankruptcy Code section 363; (d) advise the Debtor in respect of bankruptcy or other such services as requested; and (e) perform all other legal services in connection with this Chapter 11 case. The Jameson firm will be paid at these hourly rates: James B. Jameson $325 Associates $150-$200 Paralegal $110 The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. The Jameson firm received from the Debtor an initial retainer in the amount of $10,000. The balance of $6,477 has been placed in the firm's trust account. Mr. Jameson 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 Debtor and its estate. The firm can be reached at: James B. Jameson, Esq. JAMES B. JAMESON & ASSOCIATES, P.C. 700 Louisiana, Suite 4545 Houston, TX 77098 Tel: (713) 807-1705 Fax: (888) 231-0671 E-mail: jbjameson@jamesonlaw.net About Frontier Hotels Frontier Hotels, Inc., based in Houston, Tex., filed a Chapter 11 petition (Bankr. S.D. Tex. Case No. 16-34477) on September 5, 2016. The Hon. Karen K. Brown presides over the case. James B. Jameson, Esq., serves as bankruptcy counsel. In its petition, the Debtor declared $6 million in total assets and $5.13 million in total liabilities. The petition was signed by Muddasa Khan, president. FULTON STREET: Disclosures Okayed, Plan Hearing on Nov. 3 --------------------------------------------------------- The Fulton Street Corp. is now a step closer to emerging from Chapter 11 protection after a bankruptcy judge approved the outline of its plan of reorganization. Judge Christopher Panos of the U.S. Bankruptcy Court for the Central District of Massachusetts on Sept. 15 gave the thumbs-up to the disclosure statement after finding that it contains "adequate" information. Under U.S. bankruptcy law, a company must get approval of its disclosure statement detailing its bankruptcy plan to begin soliciting votes from creditors. The document must contain adequate information to enable creditors to make an informed decision about the plan. The order set an October 20 deadline for voting creditors to file their ballots and objections to the plan. A court hearing to consider confirmation of the plan is scheduled for November 3, at 11:00 a.m. The hearing will take place at Harold Donohue Federal Building and Courthouse, Courtroom No. 3, 595 Main Street, Worcester, Massachusetts. The restructuring plan proposes to pay creditors of Fulton Street, including its general unsecured creditors, in full. The company will pay general unsecured claims 30 days from the effective date of the plan. About The Fulton Street The Fulton Street Corporation sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Mass. Case No. 15-41280) on July 1, 2015. The Debtor is represented by Laurel E. Bretta, Esq., at Bretta & Grimaldi, P.A., in Medford, Massachusetts. GATEWAY ENTERTAINMENT: Committee Seeks Ch. 11 Examiner Appointment ------------------------------------------------------------------ The Official Committee of Unsecured Creditors filed an Emergency Motion asking the United States Bankruptcy Court for the Western District of Pennsylvania to direct the appointment of a Chapter 11 examiner for Gateway Entertainment Studios, LP. According to the Committee, the Debtor's real property, commonly known as 77 31st Street, Pittsburgh, PA 15201, serves its primary function leasing the property to several tenants that produce both television programs and movies. The Debtor had reached a sale agreement for the property for approximately US$12,000,000.00 with Core Realty, Inc. In the case, both the Committee and the Court expressed serious concerns about having a sale without competitive bidding for transparency. The Committee asserts that the appointment of the Examiner would be for the investigation on the conduct of the Debtor and other interested parties with respect to the sale process. Moreover, the Committee has had concern with the lack of progress with respect to the sale of the property from the beginning of the case and now these fears are substantiated by curious refusals by Core, the prospective buyer, and 31st Street, another party-in-interest, to participate in routine, ordinary and appropriate discovery requests with respect to the sale process and the lack of transparency. The Counsel for the Committee is: Kirk B. Burkley, Esq. BERNSTEIN-BURKLEY, P.C. 707 Grant Street, 2200 Gulf Tower Pittsburgh, PA 15219 Tel.: (412) 456-8108 Fax: (412) 456-8135 Email: kburkley@bernsteinlaw.com About Gateway Entertainment Gateway Entertainment Studios, L.P., filed a Chapter 11 petition (Bankr. W.D. Pa. Case No. 16-21628) on April 29, 2016. At the time of filing, the Debtor listed total assets of $12.15 million and total debts of $9.87 million. Judge Carlota M. Bohm is assigned to the case. GEI HOLDINGS: Hires Davis Law Center as Legal Counsel ----------------------------------------------------- GEI Holdings, LLC, seeks authority from the U.S. Bankruptcy Court for the District of New Jersey to employ Davis Law Center, LLC as counsel to the Debtor. GEI Holdings requires Davis Law Center to: a. appear in the bankruptcy court in behalf of the Debtor; b. prepare and file required motions and applications; c. counsel the Debtor to comply with the Bankruptcy Code and the rules of court; d. file monthly reports; and e. file and prepare the disclosure plans and statements. Davis Law Center will be paid at the hourly rate of $300, and a retainer in the amount of $5,000. Davis Law Center will also be reimbursed for reasonable out-of-pocket expenses incurred. Robert B. Davis, member of the law firm of Davis Law Center, LLC, 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 Debtor and its estates. Davis Law Center can be reached at: Robert B. Davis, Esq. DAVIS LAW CENTER, LLC 48 Van Buren Street 2nd Floor Newark, NJ 07105 Tel: (973) 315-7566 E-mail: rob@davislawcenterllc.com About GEI Holdings GEI Holdings, LLC, sought Chapter 11 protection (Bankr. D.N.J. Case No. 16-24991) on Aug. 4, 2016, disclosing under $1 million in both assets and liabilities. The Debtor is represented by John F. Wise, Esq., at Goodson Law Offices, LLC. No official committee of unsecured creditors has been appointed in the case. GKI INCORPORATED: Wants to Use First Midwest Bank Cash ------------------------------------------------------- GKI Incorporated seeks authority from the U.S. Bankruptcy Court for the Northern District of Illinois to use First Midwest Bank's cash collateral. The Debtor proposes to use the cash collateral to pay wages and salaries, pay federal and state withholding taxes, payroll taxes and other payments under employee benefit plans and programs, and to maintain its business operations, to meet contractual obligations and operate on a day-to-day basis. The Debtor relates that it currently employs 24 full-time and six part-time employees who are paid bi-weekly. The Debtor further relates that a portion of the wages now due to its employees was earned prior to the Petition Date and constitutes pre-petition wages. The Debtor's gross bi-weekly payroll is approximately $58,000. The Debtor tells the Court that the estate and value of the estate will be maintained and enhanced by the Debtor's use of cash collateral and this, by itself, provides adequate protection to First Midwest Bank. The Debtor proposes to grant First Midwest Bank a replacement lien against the Debtor's business assets including post-petition accounts receivable and after-acquired collateral. The Debtor requests the Court to schedule a final hearing on Oct. 3, 2016 at 10:30 a.m. for the entry of a final order authorizing the use of cash collateral on a permanent basis. A full-text copy of the Debtor's Motion dated September 19, 2016 is available at http://tinyurl.com/hsox8zc About GKI Incorporated GKI Incorporated filed a Chapter 11 petition (Bankr. N.D. Ill. Case No. 16-82168), on September 15, 2016. The petition was signed by Olaf Klutke, president. The case is assigned to Judge Thomas M. Lynch. The Debtor's counsel is Steven J. Brody, Esq., at Steven J. Brody & Associates, Ltd. At the time of filing, the Debtor estimated assets at $0 to $50,000 and liabilities at $1 million to $10 million. A copy of the Debtor's list of 20 largest unsecured creditors is available for free at: http://bankrupt.com/misc/ilnb16-82168.pdf GLM DFW: $400,000 Sale to Give 10% Recovery for Unsec. Creditors ---------------------------------------------------------------- GLM DFW, Inc., is proposing a Chapter 11 plan that provides that holders of general unsecured claims totaling $1,750,000 will recover 10 cents on the dollar, or higher if the ownership interest in the Company is sold for more than $400,000. Under the Plan, the ownership interest in the Reorganized Debtor (i.e. GLM DFW, Inc. after the Effective Date of the Plan) is being sold to Mary Jane Galvan for $400,000, subject to an auction where any party, subject to the terms of the auction, may propose a higher bid for such ownership interest. If there is an auction, the ownership interest in the Reorganized Debtor may be sold for more than $400,000. The funds from the sale of the ownership interest -- Equity Funding -- will be used to pay creditors of the Debtor and administrative claims (such as the fees for the Debtor's bankruptcy attorneys and accountants), subject to a process by which claims may be objected to. For claims that are allowed, the Plan proposes the following treatment: * Administrative claims and priority claims (if any) would be paid in full from the Equity Funding. * Secured tax claims (such as property taxes) would be paid as provided for in Section 4.2 of the Plan (and not from the Equity Funding). * Marathon Equipment's reclamation claim, subject to allowance, would be paid through four quarterly payments from the Reorganized Debtor (and not from the Equity Funding). * Unsecured creditors will be paid pro-rata from the Equity Funding remaining. Unsecured creditors are unlikely to be paid in full unless the Equity Funding amount is substantially greater than $400,000. Sharing pro-rata with unsecured creditors are the Guaranteed Claims, which are claims where Mary Jane Galvan and Jose Galvan are allegedly guarantors of the amounts owed. The Plan does not affect the guarantees of Mary Jane and Jose Galvan. * If there are any subordinated claims, such as the claims of Mary Jane and Jose Galvan if they are subordinated, such claims would be paid from any remainder of the Equity Funding, but not before all allowed unsecured claims have been paid in full. Only in the event that the Plan is confirmed and that Mary Galvan purchases the ownership interest in the Reorganized Debtor, will Mary and Jose Galvan subordinate any and all claims they have against the Debtor. The bankruptcy case was precipitated by the entry of a large judgment against the Debtor in favor of Oncor. The Debtor filed an appeal of the Oncor judgment, which appeal is currently stayed pending the resolution of the bankruptcy case. The Plan proposes to deal with the Oncor Litigation as follows: if Oncor votes to accept the Plan and the Plan is confirmed, the Debtor will dismiss its appeal of Oncor's judgment against it with prejudice after the Effective Date, Oncor's claim will be deemed "allowed" in the amount of the proof of claim Oncor has filed, and the Plan would function as a release of all of the Debtor's claims against Oncor. Oncor's claim is an unsecured claim. The Plan also provides for the Reorganized Debtor's assumption of liabilities of the Debtor only to the extent provided in the Plan, and provides that the Reorganized Debtor will not assume any liabilities of the Debtor unless specifically stated in the Plan. The Plan proposes that the Debtor will assume liabilities associated with the Marathon Reclamation Claim and the Secured Tax Claims. Further, the Reorganized Debtor will assume the Debtor's liabilities in relation to the Debtor's customers. The Plan provides for the Reorganized Debtor's assumption of all executory contracts of the Debtor, including all contracts with the Debtor's customers. The Plan does not affect the assumption of the Debtor's lease of the Debtor's office-space lease. All rights related to the Debtor's lease of its office space are transferred to the Reorganized Debtor. The Plan preserves the Debtor's litigation claims, including as against Progressive, Oncor, avoidance actions, professional negligence claims, and with respect to accounts receivables. The Reorganized Debtor intends to fully prosecute the Progressive Litigation and the Oncor Litigation, and reserves the right to prosecute any and all other claims and causes of action, including professional negligence claims and avoidance actions. A copy of the Disclosure Statement is available for free at: http://bankrupt.com/misc/txeb15-41480_88_DS_GLM_DFW.pdf About GLM DFW, Inc. For the last twenty-five years, GLM DFW, Inc., has operated a business specialized in facilitating trash and recycling services. GLM DFW, Inc., sought Chapter 11 protection (Bankr. E.D. Tex. Case No. 15-41480) on Aug. 19, 2015. The case judge is the Hon. Brenda T. Rhoades. The Debtor estimated assets and debt of $1 million to $10 million. The Debtor tapped Munsch Hardt Kopf & Harr, P.C., in Dallas, as counsel; and Grissom & Company, PLLC, as accountants and Stephen Grissom as Chief Financial and Restructuring Officer. GOLFSMITH INT'L: U.S. Trustee Forms 7-Member Committee ------------------------------------------------------ Andrew Vara, acting U.S. trustee for Region 3, on Sept. 23 appointed seven creditors to serve on the official committee of unsecured creditors in the Chapter 11 cases of Golfsmith International Holdings, Inc. and its affiliates. The committee members are: (1) Callaway Golf Company Attn: Diana Schelin 2180 Rutherford Road Carlsbad, CA 92008 Phone: 760-804-4247 Fax: 760-804-4292 (2) Taylormade Golf Company, Inc. Attn: Brad Wardenburg 5545 Fermi CT Carlsbad, CA 92008 Phone: 760-918-6122 Fax: 806-767-6921 (3) Nike USA, Inc. Attn: Kim Stewart One Bowerman Drive Beaverton, OR 97005 Phone: 503-532-7856 Fax: 503-820-3008 (4) Ping Attn: Frank Beahm P.O. Box 82000 Phoenix, AZ 85071-2000 Phone: 602-687-5370 Fax: 602-687-4482 (5) Acushnet Company Attn: Sharon Nickerson and Mark Storey 333 Bridge St. Fairhaven, MA 02719 Phone: 508-979-3443 Fax: 508-979-3913 (6) Kimco Realty Corp. Attn: Raymond Edwards 3333 New Hyde Park Road, Suite 100 New Hyde Park, NY 11042 Phone: 516-896-2586 (7) DDR Corp. Attn: Renee Weiss, Esq. 3300 Enterprise Parkway Beachwood, OH 44122 Phone: 216-755-5662 Fax: 216-755-1662 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 Golfsmith International Headquartered in Austin, Texas, Golfsmith International Holdings, Inc., the parent company of Golfsmith International, Inc., is a holding company. The Company is a specialty retailer of golf and tennis equipment, apparel, footwear and accessories. The Company operates as an integrated multi-channel retailer, providing its customers the convenience of shopping in the retail stores across United States, through its Internet site, http://www.golfsmith.com/,and from its catalogs. The Company offers a product selection that features national brands, pre-owned clubs and its branded products. It offers a number of customer services and customer care initiatives, including its club trade-in program, 30-day playability guarantee, 115% low-price guarantee, its credit card, in-store golf lessons, and SmartFit, its club-fitting program. As of January 1, 2011, the Company operated 75 stores in 21 states and 33 markets. Golfsmith International Holdings, Inc., and its 12 debtor affiliates filed Chapter 11 petitions (Bankr. D. Del. Case No. 16-12033) on Sept. 14, 2016, and are represented by Mark D. Collins, Esq., John H. Knight, Esq., Zachary I. Shapiro, Esq., and Brett M. Haywood, Esq., at Richards, Layton & Finger, P.A., in Wilmington, Delaware; and Michael F. Walsh, Esq., David N. Griffiths, Esq., and Charles M. Persons, Esq., at Weil, Gotshal & Manges LLP, in New York. The Debtors' financial advisor is Alvarez & Marsal North America, LLC. The Debtors' investment banker is Jefferies LLC. The Debtors' claims, noticing and solicitation agent is Prime Clerk LLC. At the time of filing, the Debtor had $100 million to $500 million in estimated assets and $100 million to $500 million in estimated liabilities. GRACE GEMS: Disclosures Conditionally OK'd; Hearing on Oct. 20 -------------------------------------------------------------- The U.S. Bankruptcy Court for the Western District of Pennsylvania has conditionally approved Grace Gems Galleria, LLC's disclosure statement dated Aug. 23, 2016, accompanying the Debtor's plan of reorganization. The final hearing on the Disclosure Statement and Plan confirmation is scheduled for Oct. 20, 2016, at 11:00 a.m. Objections to the Disclosure Statement and Plan confirmation must be filed by Oct. 3, 2016. All ballots accepting or rejecting the Plan must be served on the attorney for the plan proponent by Oct. 3. Counsel for the plan proponent will file a summary of the balloting by Oct. 18, 2016. Grace Gems Galleria, LLC, filed for Chapter 11 bankruptcy protection (Bankr. W.D. Penn. Case No. 15-24218) on Nov. 18, 2015, estimating its assets at between $50,000 and $100,000 and its liabilities at between $100,000 and $500,000. Robert O Lampl, Esq., serves as the Debtor's bankruptcy counsel. GREAT BASIN: Had 1.76M Outstanding Common Shares as of Sept. 23 --------------------------------------------------------------- On Sept. 20 through Sept. 23, 2016, certain holders of the 2015 Notes were issued shares of Great Basin Scientific, Inc.'s common stock pursuant to Section 3(a)(9) of the United States Securities Act of 1933, (as amended) in connection with the pre-installment amount converted for the amortization date of Sept. 30, 2016. In connection with the pre-installments, the Company issued 157,341 shares of common stock upon the conversion of $2,055,571 principal amount of 2015 Notes at a conversion price of $13.064 per share. On September 20 in accordance with the terms of the 2015 Notes the Company issued additional shares of the Company's common stock pursuant to Section 3(a)(9) of the United States Securities Act of 1933, as amended, to adjust previously converted amortization and accelerated amounts for the post-split pre-installment conversion price calculated without limitation to the floor exercise price. Pursuant to this adjustment the Company issued an additional 108,027 shares of common stock to make the effective pre-installment conversion price $13.064 per share. On September 22 and September 23 the Company issued additional shares of the Company's common stock pursuant to Section 3(a)(9) of the United States Securities Act of 1933, as amended, to adjust previously converted amortization and accelerated amounts in the amount of $1,075,000 for the temporary Conversion Price Reduction. Pursuant to this adjustment the Company issued an additional 305,860 shares of common stock to make the effective pre-installment conversion price $2.80 per share. These conversions will no longer be subject to future deferrals. As of Sept. 23, 2016, a total principal amount of $19,331,882 of the 2015 Notes has been converted into shares of common stock and $2,768,118 principal remains to be converted, subject to up to $14,562,068 of principal amount becoming subject to deferrals and subsequent conversion upon future installments. A total of $11.3 million of the proceeds from the 2015 Notes has been released to the Company including $4.6 million at closing and $6.7 million from the restricted cash accounts. $7.1 million remains in the restricted accounts to be released to the Company upon future installments. The Company previously filed an 8-K on Sept. 16, 2016, and reported 1,196,202 shares outstanding therefore as of Sept. 23, 2016, there are 1,767,430 shares of common stock issued and outstanding. On Sept. 21, 2016, the holders of the 2015 Notes approved a temporary Conversion Price Reduction as permitted in the terms of the Notes whereby up to an aggregate of $2 million will be permitted to be converted at a conversion price of $2.80. These conversions will not be subject to future deferrals. In connection with the temporary Conversion Price Reduction, the exercise prices or conversion prices of certain of our issued and outstanding securities were automatically adjusted to take into account the reduced conversion price of the 2015 Notes. The exercise prices of the following securities were adjusted as follows. Class A and Class B Warrants As of Sept. 22, 2016, the Company had outstanding Class A Warrants to purchase 52 shares and Class B Warrants to purchase 33 shares of common stock of the Company. The Class A and Class B Warrants include a provision which provides that the exercise price of the Class A and Class B Warrants will be adjusted in connection with certain equity issuances by the Company. The consummation of the Conversions triggers an adjustment to the exercise price of the Class A and Class B Warrants. Therefore, on Sept. 22, 2016, the exercise price for the Class A and Class B Warrants was adjusted from $13.06 to $2.80 per share of common stock. Common Stock Warrants As of Sept. 22, 2016, the Company had outstanding certain common stock warrants to purchase 2 shares of common stock of the Company. As a result of the Conversions, on Sept. 22, 2016, the exercise price for certain Common Warrants was adjusted from $13.06 to $2.80 per share of common stock. Series G Warrants As of Sept. 22, 2016, the Company had outstanding Series G Warrants to purchase 38,438 shares of common stock of the Company. The Series G Warrants include a provision which provides that the exercise price of the Series G Warrants will be adjusted in connection with certain equity issuances by the Company. The consummation of the Conversions triggers an adjustment to the exercise price of the Series G Warrants. Therefore, on Sept. 22, 2016, the exercise price for the Series G Warrants was adjusted from $13.06 to $2.08 per share of common stock. About Great Basin Great Basin Scientific is a molecular diagnostic testing company focused on the development and commercialization of its patented, molecular diagnostic platform designed to test for infectious disease, especially hospital-acquired infections. The Company believes that small to medium sized hospital laboratories, those under 400 beds, are in need of simpler and more affordable molecular diagnostic testing methods. The Company markets a system that combines both affordability and ease-of-use, when compared to other commercially available molecular testing methods, which the Company believes will accelerate the adoption of molecular testing in small to medium sized hospitals. The Company's system includes an analyzer, which it provides for its customers' use without charge in the United States, and a diagnostic cartridge, which the Company sells to its customers. Great Basin reported a net loss of $57.9 million in 2015 following a net loss of $21.7 million in 2014. As of March 31, 2016, Great Basin had $27.6 million in total assets, $70.99 million in total liabilities, and a total stockholders' deficit of $43.4 million. Mantyla McReynolds, LLC, in Salt Lake City, Utah, issued a "going concern" opinion in its report on the consolidated financial statements for the year ended Dec. 31, 2015, citing that the Company has incurred substantial losses from operations causing negative working capital and negative operating cash flows. These issues raise substantial doubt about its ability to continue as a going concern. GUIDED THERAPEUTICS: Stockholders Elect Three Directors ------------------------------------------------------- Guided Therapeutics, Inc., held its 2016 annual meeting of stockholders on Sept. 23, 2016, at which the stockholders: (1) elected Gene S. Cartwright, Michael C. James, John E. Imhoff as directors to serve until the 2017 Annual Meeting of Stockholders; (2) approved an amendment to the Company's certificate of incorporation to effect a 1-for-800 reverse stock split of all issued and outstanding shares of the Company's common stock to be effected as soon as practicable following such approval; (3) approved, on a non-binding, advisory basis, the compensation of the Company's named executive officers, as disclosed in the accompanying proxy statement pursuant to the compensation disclosure rules of the Securities and Exchange Commission; (4) ratified the appointment of UHY LLP as the Company's independent registered public accounting firm for the 2016 fiscal year. About Guided Therapeutics Guided Therapeutics, Inc. (OTC BB and OTC QB: GTHP) -- http://www.guidedinc.com/-- is developing a rapid and painless test for the early detection of disease that leads to cervical cancer. The technology is designed to provide an objective result at the point of care, thereby improving the management of cervical disease. Unlike Pap and HPV tests, the device does not require a painful tissue sample and results are known immediately. GT has also entered into a partnership with Konica Minolta Opto to develop a non-invasive test for Barrett's Esophagus using the LightTouch technology platform. Guided Therapeutics reported a net loss attributable to common stockholders of $9.50 million on $42,000 of contract and grant revenue for the year ended Dec. 31, 2015, compared to a net loss attributable to common stockholders of $10.03 million on $65,000 of contract and grant revenue for the year ended Dec. 31, 2014. As of June 30, 2016, Guided Therapeutics had $2.31 million in total assets, $9.44 million in total liabilities, and a total stockholders' deficit of $7.13 million. HAIN CELESTIAL: Receives Limited Waiver on Credit Facility ---------------------------------------------------------- The Hain Celestial Group, Inc., an organic and natural products company with operations in North America, Europe and India providing consumers with A Healthier Way of Life(TM), on Sept. 26, 2016, disclosed that it has received a limited waiver and extension of certain obligation under its unsecured credit facility from its lenders regarding the delivery of its fiscal year 2016 financial statements and, if necessary, its first quarter fiscal year 2017 financial statements until December 27, 2016. This will allow Hain Celestial to be compliant with its borrowing obligations while the Company works to complete the filing of its Annual Report on Form 10-K for its fiscal year ended June 30, 2016. The unsecured $1 billion senior credit facility is scheduled to mature in December 2019 and may be increased by an additional $350 million provided certain conditions are met. "We are pleased to receive the support of our bank group led by Bank of America Merrill Lynch and Wells Fargo in securing this waiver and extension," commented Irwin D. Simon, Founder, President and Chief Executive Officer of Hain Celestial. "Our lenders allow us to maintain the operating flexibility for a solid financial platform with working capital and acquisition capital to support our strategic growth initiatives." As of June 30, 2016, there were $828 million in borrowings under the credit agreement, which included the Company utilizing its revolving credit facility to redeem its $150 million of senior notes as well as the $114 million acquisition of Orchard House Foods in December, 2015. The $828 million compares to $660 million of revolving credit and $150 million in senior notes in the prior year period. The Company had $128 million in cash from its worldwide operations at June 30, 2016. The Hain Celestial Group, Inc. Headquartered in Lake Success, NY, The Hain Celestial Group -- http://www.hain.com-- is an organic and natural products company with operations in North America, Europe and India. Hain Celestial participates in many natural categories with well-known brands that include Celestial Seasonings(R), Earth's Best(R), Ella's Kitchen(R), Terra(R), Garden of Eatin'(R), Sensible Portions(R), Health Valley(R), Arrowhead Mills(R), MaraNatha(R), SunSpire(R), DeBoles(R), Casbah(R), Rudi's Organic Bakery(R), Hain Pure Foods(R), Spectrum(R), Spectrum Essentials(R), Imagine(R), Almond Dream(R), Rice Dream(R), Soy Dream(R), WestSoy(R), The Greek Gods(R), BluePrint(R), FreeBird(R), Plainville Farms(R), Empire(R), Kosher Valley(R), Yves Veggie Cuisine(R), Europe's Best(R), Cully & Sully(R), New Covent Garden Soup Co.(R), Johnson's Juice Co.(R), Farmhouse Fare(R), Hartley's(R), Sun-Pat(R), Gale's(R), Robertson's(R), Frank Cooper's(R), Linda McCartney(R), Lima(R), Danival(R), Happy(R), Joya(R), Natumi(R), GG UniqueFiber(R), Tilda(R), JASON(R), Avalon Organics(R), Alba Botanica(R), Live Clean(R) and Queen Helene(R). Hain Celestial has been providing A Healthier Way of Life(TM) since 1993. HANCOCK FABRICS: Has PBGC Deal for Plan Pension Termination ----------------------------------------------------------- BankruptcyData.com reported that Hancock Fabrics filed with the U.S. Bankruptcy Court a motion for entry of an order authorizing the Debtor to enter into an agreement with the PBGC terminating pension plan and appointing PBGC as statutory trustee thereof. The motion explains, "PBGC is a federal corporation created under Title IV of ERISA that administers the termination insurance program for certain defined benefit pension plans, such as the Plan. The PBGC issued the Company a Notice of Determination, dated May 10, 2016 (the 'Determination Notice'), indicating that (i) the Plan will be unable to pay benefits when due under 29 U.S.C. section 1342(a)(2), (ii) it has determined that the PBGC should be appointed as statutory trustee under 29 U.S.C. section 1342, and (iii) it intends to proceed under 29 U.S.C. section 1348 to have March 31, 2016 established as the termination date with respect to the Plan. Given the cessation of the Debtors' business and the need to provide for continuity of present and prospective retirement pension benefits to Hancock's now-former employees, the Debtors have determined that it is in the best interests of their estates to have the Company enter into an agreement with the PBGC to terminate the Plan. Accordingly, the Company and the PBGC have been negotiating the terms of the PBGC Agreement, which provides, among other things, that (i) the Plan termination date shall be March 31, 2016; and (ii) the PBGC shall be appointed as statutory trustee of the Plan, with all of the rights and powers of a trustee specified in ERISA or otherwise granted by law." The Court scheduled an Oct. 24, 2016 hearing on the motion. About Hancock Fabrics Hancock Fabrics, Inc., is a specialty fabric retailer operating stores under the name "Hancock Fabrics". Hancock has 4,500 full-time and part time employees. The Baldwyn, Mississippi-based company is one of the largest fabric retailers in the United States, operating 260 stores in 37 states as of October 31, 2015 and an internet store under the domain name http://www.hancockfabrics.com/ Hancock Fabrics, Inc. and six of its affiliates, retailer of fabric, sewing and accessories, filed Chapter 11 bankruptcy petitions (Bankr. D. Del. Case Nos. 16-10296 to 16-10302) on Feb. 2, 2016. Dennis Lyons, the senior vice president and chief administrative officer, signed the petitions. Judge Brendan Linehan Shannon is assigned to the jointly administered cases. The Debtors have engaged O'Melveny & Myers LLP as general counsel, Richards, Layton & Finger, P.A., as local counsel, Clear Thinking Group LLC as financial advisor, Retail Consulting Services, Inc. d/b/a Real Estate Advisors as real estate advisors and Kurtzman Carson Consultants, LLC as claims and noticing agent. The Debtors disclosed total assets of $151.4 million and total debts of $182.1 million. The Debtors owe its trade vendors approximately $21.2 million as of Jan. 31, 2016. HANJIN SHIPPING: U.S. Judge Concerned with Speed of Restructuring ----------------------------------------------------------------- Tom Corrigan, writing for The Wall Street Journal, reported that U.S. Bankruptcy Judge John Sherwood in Newark, New Jersey, expressed concern that Hanjin Shipping Co.'s efforts to cobble together a restructuring plan may be moving too quickly for U.S. creditors. According to the report, the South Korean shipping company hopes to file a plan of reorganization with a Korean court by Dec. 23, court papers show, about four months after it sought protection there and in the U.S. "It's very condensed," Judge Sherwood said on Sept. 23 at a status hearing in the company's U.S. bankruptcy proceeding, the report cited. "I'm just concerned that U.S. creditors will be asleep at the wheel, because it's a fast process." Once Hanjin's restructuring plan is on file, it will then be up to the South Korean court to decide whether to accept the plan or to let the company go under, the report related. "I'm getting the sense that things are finally starting to move," Hanjin lawyer Ilana Volkov told the Newark bankruptcy court on Sept. 23, the report further related. "The entire chaotic situation is no longer an entire chaotic situation." About Hanjin Shipping Hanjin Shipping Co., Ltd., is mainly engaged in the transportation business through containerships, transportation business through bulk carriers and terminal operation business. The Debtor is a stock-listed corporation with a total of 245,269,947 issued shares (common shares, KRW 5000 per share) and paid-in capital totaling KRW 1,226,349,735,000. Of these shares 33.23% is owned by Korean Air Lines Co., Ltd., 3.08% by Debtor and 0.34% by employee shareholders' association. The Company operates approximately 60 regular lines worldwide, with 140 container or bulk vessels transporting over 100 million tons of cargo per year. It also operates 13 terminals specialized for containers, two distribution centers and six Off Dock Container Yards in major ports and inland areas around the world. The Company is a member of "CKYHE," a global shipping conference and also a partner of "The Alliance," another global shipping conference to be launched in April 2017. Hanjin Shipping listed total current liabilities of KRW 6,028,543 million and total current assets of KRW 6,624,326 million as of June 30, 2016. As a result of the severe lack of liquidity, Hanjin applied to the Seoul Central District Court 6th Bench of Bankruptcy Division for the commencement of rehabilitation under the Debtor Rehabilitation and Bankruptcy Act on Aug. 31, 2016. On the same day, it requested and was granted a general injunction and the preservation of disposition of the Company's assets. The Korean Court's decision to commence the rehabilitation was made on Sept. 1, 2016. Tai-Soo Suk was appointed as the Debtor's custodian. The Chapter 15 case is pending in the U.S. Bankruptcy Court for the District of New Jersey (Bankr. D.N.J. Case No. 16-27041) before Judge John K. Sherwood. Cole Schotz P.C. serves as counsel to Tai-Soo Suk, the Chapter 15 petitioner and the duly appointed foreign representative of Hanjin Shipping. HAROLD ROSBOTTOM: Files Disclosures for Modification of Plan ------------------------------------------------------------ Harold L. Rosbottom, Jr., filed with the U.S. Bankruptcy Court for the Western District of Louisiana a disclosure statement for modification of the Debtor's plan of reorganization dated Aug. 17, 2016. Under the Plan, Class 18 General Unsecured Claims are impaired. Each holder will receive a general unsecured note for the full amount of the allowed General Unsecured Claim. The holders of Class 18 Claims will receive a pro rata share of the initial effective date cash payment the new notes as provided for in the Plan in an amount equal to the aggregate amount of outstanding indebtedness under the applicable allowed claims as of the Petition Date (or, with respect to the Louisiana Land Bank, the amount of the Louisiana Land Bank deficiency claim) less the amount received from the initial effective date cash payment. ABC Holding, LLC, will be organized, in accordance with the terms of the Plan, with the Trustee, as the representative and on behalf of the estate, to be the sole member and sole manager. As of the initial effective date, the transferred assets, excluding the equity interests in the gaming affiliate entities will be transferred to ABC Holding, with the transfers to be effective as of the initial effective date, and title to these transferred assets to automatically vest in ABC Holding without the need to execute any documents or instruments of transfer, but the Trustee is authorized to execute any documents, including transfer documents as in his discretion he deems reasonable and appropriate. The Disclosure Statement is available at: http://bankrupt.com/misc/lawb09-11674-2051.pdf http://bankrupt.com/misc/lawb09-11674-2051b.pdf http://bankrupt.com/misc/lawb09-11674-2051c.pdf Headquartered in St. Rose, Louisiana, Harold L. Rosbottom, Jr., filed for Chapter 11 bankruptcy protection (Bankr. W.D. La. Case No. 09-11674) on June 9, 2009, estimating its assets at between $1 million and $10 million. The petition was signed by Mr. Rosbottom, Jr. Patrick S. Garrity, Esq., who has an office in Baton Rouge, Louisiana, serves as the Debtor's bankruptcy counsel. HB WHITE: Seeks Approval of Plan at October 27 Creditors' Meeting ----------------------------------------------------------------- The Ontario Superior Court of Justice said a meeting of the affected creditors of HB White Canada Corp. will be held on Oct. 17, 2016, at 2:00 p.m., at the offices of Goodmans LLP, 333 Bay Street, Suite 3400, Toronto, Canada, Ontario, for these purposes: a) to consider and, if deemed advisable, to pass, with or without variation, a resolution approving the plan of compromise and arrangement of the company to the Companies' Creditors Arrangement Act dated Sept. 18, 2016; and b) to transact such other business as may properly come before the creditors' meeting or any adjournment of postponement thereof. Convenience class creditors will be deemed to vote in favor of the plan. Affected creditors with one or more proven claims in an amount in excess of $10,0000 may file with the monitor, Alvarez & Marsal Canada Inc., a convenience class claim declaration no later than 2:00 p.m. (Toronto Time) on Oct. 16, 2016. If the plan is approved by the required majority at the creditors' meeting, the company will file a motion before the Court on Oct. 24, 2016, at 10:00 a.m. (Toronto Time), seeking the granting of the sanction order sanctioning the plan under the CCAA and for ancillary relief consequent upon such sanction. The monitor can be reached at: Alvarez & Marsal Canada Inc. 200 Bay Street, Suite 2900 PO Box 22 Toronto, ON M5I 2JI Attention: Joshua Nevsky Fax: 416-847-5201 Email: monitor.hbwhite@alvarezandmarsal.com HB White Canada Corp. -- http://whiteconstruction.com-- is a wholly owned subsidiary of White Construction Inc. engages in infrastructure and energy projects across North America. On July 7, 2016, HB White Canada Corp. commenced court-supervised restructuring proceedings under the Companies' Creditors Arrangement Act. Alvarez & Marsal Canada Inc. was appointed as monitor of the business and financial affairs of the HB White. HBCU PROPERTIES: Exit Plan to Pay Unsecured Creditors in Full ------------------------------------------------------------- General unsecured creditors of HBCU Properties LLC will be paid in full under the company's proposed plan to exit Chapter 11 protection. Under the restructuring plan, Class 4 general unsecured creditors, which assert a total of $26,900 in claims, will be paid 100% of their claims over 60 months. Payments will begin 30 days from the effective date of the plan. HBCU will retain its rental properties in Stone Mountain, Lithonia and Atlanta, Georgia, after its plan is confirmed. The company will fund the plan from the income it receives from those properties, according to the disclosure statement filed on September 15 with the U.S. Bankruptcy Court for the Northern District of Georgia. A copy of the disclosure statement is available for free at https://is.gd/PVJNdX The Debtor is represented by: Kenneth Mitchell, Esq. Giddens and Mitchell P.C. Omega World Center 3951 Snapfinger Parkway, Suite 555 Decatur, Georgia 30035 Phone: 770-987-7007 Email gmapclaw1@gmail.com About HBCU Properties HBCU Properties LLC owns properties in Georgia, which it leases to New Horizon Assisted Living, LLC (NHAL). NHAL provides assisted living services to individuals with developmental disabilities. The Debtor sought protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ga. Case No. 16-50285) on January 5, 2016. HEALTH DIAGNOSTIC: Court Approves Settlement with LeClairRyan ------------------------------------------------------------- The American Bankruptcy Institute, citing Katie Demeria of Richmond Times-Dispatch, reported that the dispute between LeClairRyan and Health Diagnostic Laboratory may be settled, but the contentions between HDL’s former executives and the Richmond-based law firm appear far from over. According to the report, a federal bankruptcy judge approved the settlement agreement between LeClairRyan and HDL at the end of a four-hour hearing in which various executives' attorneys argued against the agreement. The Troubled Company Reporter, citing The Wall Street Journal Pro Bankruptcy, previously reported that under the settlement, LeClairRyan law firm has promised to pay more than $20 million to settle a dispute over the legal advice it gave Health Diagnostic. According to WSJ, in court papers, Health Diagnostic Laboratory asked a bankruptcy judge to approve a negotiated settlement that calls for the LeClairRyan firm to pay $20.4 million, adding to the pool of money that will pay Health Diagnostic Laboratory's final bills. The Richmond lab's operations, which tested for cardiovascular diseases such as diabetes, were taken over last fall by a competitor, the report noted. Health Diagnostic Laboratory officials didn't specifically say in court papers why they were unhappy with the legal advice that lawyers at LeClairRyan, a national firm with more 350 attorneys, provided from 2008 until 2015, but noted that the mediator who helped negotiate the settlement had "substantial experience in legal malpractice, health care regulation, fraud, and complex commercial disputes," the report related, citing documents filed in U.S. Bankruptcy Court in Richmond, Va. LeClairRyan officials said that the proposed settlement wasn't an admission of guilt, the report further related. The firm also agreed to waive its final unpaid bill for $344,065.05 in legal services, the report said. In an emailed statement to WSJ, LeClairRyan Chief Legal Officer Bruce Matson said that his firm wasn't "responsible for the actions that lead [sic] to the government investigation. "Unfortunately, in bankruptcy cases of this nature, it's quite common for professional firms providing advice from time to time to such companies to be pulled into the bankruptcy case," WSJ cited Mr. Matson as saying, adding that the payment will be paid by insurers. The Times-Dispath pointed out that HDL paid unusually high process and handling fees during its heyday, before filing for bankruptcy in June 2015. The practice violated state and federal anti-kickback laws, the news agency said, citing the U.S. Department of Justice, which investigated the practice and is as a result suing several former HDL executives. 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. The petitions were signed by Martin McGahan, chief restructuring officer. HDL disclosed $96,130,468 in assets and $108,328,110 in liabilities as of the Chapter 11 filing. 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. Ettin Group, LLC, will market and sell the miscellaneous equipment and other assets. MTS Health Partners, L.P., serves as investment banker. To assist them with their restructuring efforts and to help maximize the value of their estates, the Debtors filed with the Court an application seeking entry of an order authorizing the Debtors to retain Alvarez & Marsal Healthcare Industry Group, LLC ("A&M") to provide the Debtors with a Chief Restructuring Officer and certain additional personnel. Richard Arrowsmith is presently the CRO. On June 16, 2015, the Office of the United States Trustee for the Eastern District of Virginia appointed the Committee, consisting of the following seven members: (i) Oncimmune (USA) LLC; (ii) Aetna, Inc.; (iii) Pietragallo Gordon Alfano Bosick & Raspanti, LLP; (iv) Mercodia, Inc.; (v) Numares GROUP Corporation; (vi) Kansas Bioscience Authority; and (vii) Diadexus, Inc. On Sept. 23, 2015, Oncimmune (USA) LLC resigned from the Committee and, on Nov. 3, 2015, the U.S. Trustee appointed Cleveland Heart Lab, Inc. to the Committee. The Creditors Committee retained Cooley LLP as its counsel and Protiviti Inc. as its financial advisor. * * * On Nov. 5, 2015, the Court entered an order setting Dec. 22, 2015, as the Bar Date for the filing of all proofs of claim. The Debtors have sold substantially all of their operating assets pursuant to two separate sales approved by the Court. On Jan. 4, 2016, the Debtors filed a proposed Plan of Liquidation and Disclosure Statement. The Troubled Company Reporter on May 20, 2016, reported that Judge Kevin R. Huennekens of the U.S. Bankruptcy Court for the Eastern District of Virginia, Richmond Division, overruled the objections to Health Diagnostic Laboratory, Inc., et al.'s Modified Second Amended Plan of Liquidation and approved the Liquidating Plan and approved the Plan. HEBREW HEALTH: Anne Cahill Kluetsch Named Patient Care Ombudsman ---------------------------------------------------------------- William K. Harrington, the United States Trustee for Region 2 in the United States Bankruptcy Court for the District of Connecticut, appointed Anne Cahill Kluetsch, the Director/Senior Consultant of Kluetsch & Associates, LLC, as the Patient Care Ombudsman in the Chapter 11 cases of Hebrew Life Choices, Inc., Hebrew Community Services, Inc., Hebrew Home and Hospital, Incorporated, and CT Geriatric Specialty Group, P.C.. The U.S. Trustee's appointment of a PCO is made in furtherance of the administrative responsibilities imposed by 28 U.S.C. Sec. 586(a), Fed. R. Bankr. P. 2007.2, and the Order directing the appointment entered by the Court on September 21, 2016. The Notice further provides that the PCO may resign her position as Patient Care Ombudsman for any reason upon 20 days written notice to the United States Trustee, said notice to be delivered to the United States Trustee via overnight mail delivery or certified mail addressed to: William K. Harrington United States Trustee for Region 2 c/o Kim L. McCabe Assistant United States Trustee Office of the United States Trustee Giaimo Federal Building 150 Court Street, Room 302 New Haven, CT 06510 Anne Cahill Kluetsch may be contacted through: Anne Cahill Kluetsch, MA, RN Director/Senior Consultant KLUETSCH & ASSOCIATES, LLC 23A Harbour Village Branford, Connecticut 06405 Cell No.: (203) 988-2322 Email: ackluetsch@gmail.com About Hebrew Health Care Inc. Hebrew Health Care, Inc., Hebrew Life Choices, Inc., Hebrew Community Services, Inc., and Hebrew Home and Hospital, Incorporated, filed Chapter 11 petitions (Bankr. D. Conn. Case Nos. 16-21311, 16-21312, 16-21313, and 16-21314, respectively) on Aug. 15, 2016. The petitions were signed by Bonnie Gauthier, CEO. Their cases are assigned to Judge Ann M. Nevins. The Debtors are represented by Elizabeth J. Austin, Esq., at Pullman and Comley, LLC. At the time of the filing, Hebrew Health Care, Inc., estimated assets at $1 million to $10 million and liabilities at $100,000 to $500,000; Hebrew Life Choices, Inc. estimated assets at $10 million to $50 million and liabilities at $10 million to $50 million; Hebrew Community Services, Inc. estimated assets at $500,000 to $1 million and liabilities at $100,000 to $500,000; and Hebrew Home and Hospital estimated assets at $1 million to $10 million and liabilities at $10 million to $50 million. The United States Trustee for Region 2 appointed The Connecticut Light and Power Company, McKesson Corporation, and Morrison Management Specialists, Inc. to serve on the Official Committee of Unsecured Creditors. HOMEJOY LLC: Disclosure Statement Hearing Set for Oct. 20 --------------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of California is set to hold a hearing on Oct. 20, at 10:30 a.m., to consider approval of the disclosure statement explaining the Chapter 11 plan of Homejoy (Assignment for the Benefit of Creditors) LLC. The hearing will take place at Courtroom 3020, 280 South First Street, San Jose, California. Homejoy on Sept. 15 filed a restructuring plan, which calls for the creation of a trust for the benefit of creditors. Under the plan, all of the funds of the bankruptcy estate remaining after payment of administrative claims will be transferred to the trust. The trust will be administered by an official selected by the official committee of unsecured creditors. The trustee will distribute all of the funds remaining to creditors in accordance with the terms of the plan. The plan classifies general unsecured claims in Class 2. General unsecured creditors will be paid on a pro rata basis from the cash in the trust, if any, remaining after payment in full of administrative and priority claims, according to the disclosure statement. The plan will be funded from unencumbered cash held by Homejoy in the amount of approximately $1.7 million, and from any recoveries obtained by the estate from the pursuit of any causes of action. A copy of the disclosure statement is available for free at https://is.gd/lXpp1W About Homejoy LLC Homejoy (assignment for the benefit of creditors) LLC sought protection under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the Northern District of California (San Jose) (Bankr. N.D. Calif., Case No. 15-53931) on December 15, 2015. The petition was signed by Tim J. Cox, responsible individual. The Debtor is represented by Ron Bender, Esq., and John-Patrick M. Fritz, Esq., at Levene, Neale, Bender Yoo & Brill L.L.P. The case is assigned to Judge Elaine E. Hammond. The Debtor estimated both assets and liabilities in the range of $1 million to $10 million. JASON LEON WINBORNE: Disclosures Okayed, Plan Hearing on Nov. 2 --------------------------------------------------------------- The U.S. Bankruptcy Court for the Central District of California will consider approval of the Chapter 11 plan of reorganization of Jason Leon Winborne at a hearing on November 2, at 11:00 a.m. The court had earlier approved the Debtor's disclosure statement after determining that it contains "adequate information." The September 15 order allowed the Debtor to start soliciting votes from creditors. The order set an October 7 deadline for creditors to cast their votes and file their objections to the plan. The Debtor is represented by: M. Jonathan Hayes, Esq. Matthew D. Resnik, Esq. Roksana D. Moradi, Esq. Simon Resnik Hayes LLP 15233 Ventura Boulevard, Suite 250 Sherman Oaks, CA 91403 Tel: (818) 783-6251 Fax: (818) 827-4919 Email: jhayes@SRHLawFirm.com Email: matthew@SRHLawFirm.com Email: roksana@SRHLawFirm.com About Jason Leon Winborne Jason Leon Winborne sought protection under Chapter 11 of the Bankruptcy Code (Bankr. C.D. Cal. Case No. 15-20597) on July 2, 2015. The case is assigned to Judge Robert Kwan. JORDAN CROSSING: Moody's Assigns Ba3 Improvement Bonds Rating ------------------------------------------------------------- Issue: General Obligation Refunding and Improvement Bonds, Series 2016; Rating: Ba2; Rating Type: Underlying LT; Sale Amount: $1,395,000; Expected Sale Date: 10/18/2016; Rating Description: General Obligation; Summary Rating Rationale Moody's Investors Service has assigned an initial rating of Ba2 to the Jordan Crossing Metropolitan District, CO's $1.395 million unlimited tax General Obligation Refunding and Improvement Bonds, Series 2016. The outlook is stable. The initial Ba2 rating is based on the district's notably small tax base size with above average wealth levels and favorable location in the Denver metro area, narrow liquidity and debt restructuring with an ascending debt service schedule and extension of maturity. The rating also considers the unlimited taxing authority on both the general and debt service mill levies and limited scope of operations. Rating Outlook The stable outlook reflects the expectation that the district's economy and assessed values will be stable over the near term given the current market trend and lack of new construction within the fully built out district. The outlook additionally reflects the expectation that the district's financial position will remain stable given the limited scope of operations and ongoing developer reimbursements over the near-term. Factors that Could Lead to an Upgrade -- Significant tax base appreciation and corresponding reduction in debt to full value ratio -- Sustained, material increase in reserves and liquidity Factors that Could Lead to a Downgrade -- Tax base contraction -- Further deterioration of reserves -- Legal Security The bonds are secured by the district's full faith and credit and a pledge of ad valorem taxes levied on taxable property within the district which is not limited as to rate or amount. Use of Proceeds Proceeds of the bonds will refund the outstanding 2006 bonds for debt service savings and generate approximately $105,859 in approved capital-related developer reimbursements. Obligor Profile Jordan Crossing Metropolitan District is located in the Town of Parker about 23 miles southeast of Denver. The district was created in 2006 for the purpose of financing and constructing certain public improvements and for dedicating, when appropriate, the public improvements to the town or to such other public entity as appropriate for the use of the district's residents and property owners. The district encompasses 30 acres and includes 102 single family homes and about seven acres of open space. JOSE LUIS CRESPO LORENZO: Plan to Give Some Dividend to Unsecureds ------------------------------------------------------------------ Wigberto Lugo-Mender, the Chapter 11 Trustee of the bankruptcy estate of Jose Luis Crespo Lorenzo, has filed a Chapter 11 plan that states that in order to provide funds for the Debtor's intended reorganization, the Chapter 11 Trustee has determined that the best alternative for all parties in interest is to: -- use the funds in possession to pay allowed administrative and unsecured claims filed in the case; and -- turn over the commercial properties encumbered by the claim filed by Banco Popular, now ROSAN, INC. Prior to the Trustee's appointment, the Debtor's reorganization efforts were always directed to some sort of resolution of the secured claim encumbering these two real properties, either by 1) a debt restructuring of the secured debt that could allow the continuation of business operations with the Debtor or 2) a carved-out sale allowing some dividend to unsecured creditors. Upon appointment, the Chapter 11 Trustee exchanged reorganization proposals with the existing secured creditors at that time. Notwithstanding, upon the transfer of the secured claims to ROSAN INC., the possibility of reaching a debt refinancing of the outstanding secured debt may no longer be an alternative for the estate. The Chapter 11 Trustee purports that it will be in the best interest of allowed unsecured creditors that the administration of these two stations be turned over to the secured creditor and that the funds currently available be distributed at the least cost possible to the allowed creditors of this estate. General unsecured claims (Class 5) are estimated to total $9,092,836. Creditors under the class will receive a lump sum payment of all proceeds deposited in the Chapter 11 Trustee account no. 8648 in Banco Santander resulting after full payment of allowed claims classified under Class 1 administrative claims, Class 6 claim of Mr. Lorenzo, and priority claims pursuant to 11 U.S.C. Sec. 507(a)(8) of the Code, as these are defined in the Plan of Reorganization. Each member of Class 5 holding an allowed claim will receive a pro-rata distribution of the lump sum amount distribution within 30 days from the effective date, as per the Schedule Payments under the Plan of Reorganization. The Hon. Edward A. Godoy has scheduled for Oct. 7, 2016, at 9:30 a.m. the hearing to consider approval of the Disclosure Statement describing the Plan. A copy of the Disclosure Statement is available for free at: http://bankrupt.com/misc/prb14-04720_338_DS_JLC_Lorenzo.pdf About Jose Luis Crespo Lorenzo Jose Luis Crespo Lorenzo owns two gas service stations: one located at Malpaso Ward, Aguada, Puerto Rico, and another at Guanabanos Ward, Aguada, Puerto Rico. Jose Luis Crespo Lorenzo filed for Chapter 11 bankruptcy protection (Bankr. D.P.R. Case No. 14-04720) on June 9, 2014, and was represented by Jose Ramon Cintron. On June 23, 2016, Alberto Lozada Colon, Esq. assumed the legal representation of the Debtor. After several procedural matters, on Aug. 20, 2015, the Honorable Court entered order granting the appointment of Wigberto Lugo-Mender, Esq. as the Chapter 11 Trustee of this bankruptcy estate. The Chapter 11 Trustee/ Attorney for the Estate can be reached at: Wigberto Lugo-Mender, Esq. 100 Carr. 165, Suite 501 Guaynabo, P.R. 00968-8052 Tel. (787) 707-0404 Fax: (787) 707-0412 E-mail: wlugo@lugomender.com KALOBIOS PHARMACEUTICALS: Incurs $12 Million Net Loss in Q2 ----------------------------------------------------------- Kalobios Pharmaceuticals, Inc., filed with the Securities and Exchange Commission its quarterly report on Form 10-Q disclosing a net loss of $12.01 million for the three months ended June 30, 2016, compared to a net loss of $6.04 million for the three months ended June 30, 2015. For the six months ended June 30, 2016, the Company reported a net loss of $17.4 million compared to a net loss of $15.7 million for the same period during the prior year. As of June 30, 2016, KaloBios had $13.5 million in total assets, $9.46 million in total liabilities and $3.99 million in total stockholders' equity. "The Company has incurred significant losses and had an accumulated deficit of $231.0 million as of June, 2016. The Company has financed its operations primarily through the sale of equity securities, debt financings, interest income earned on cash and cash equivalents, grants and the payments received under its agreements with Novartis Pharma AG ("Novartis") and Sanofi Pasteur S.A. ("Sanofi"). The Company completed its initial public offering in February 2013. To date, none of the Company's product candidates have been approved for sale and therefore the Company has not generated any revenue from product sales. Management expects operating losses to continue for the foreseeable future. As a result, the Company will continue to require additional capital through equity offerings, debt financing and/or payments under new or existing licensing or collaboration agreements. If sufficient funds are not available on acceptable terms when needed, the Company could be required to significantly reduce its operating expenses and delay, reduce the scope of, or eliminate one or more of its development programs. The Company's ability to access capital when needed is not assured and, if not achieved on a timely basis when needed, could materially harm its business, financial condition and results of operations. These conditions raise substantial doubt about the Company's ability to continue as a going concern," the Company stated in the report. The Company's quarterly report on Form 10-Q is available from the SEC website at https://is.gd/vKP0yh About KaloBios Pharmaceuticals Based in South San Francisco, Calif., KaloBios Pharmaceuticals, Inc., is a biopharmaceutical company focused on the development of monoclonal antibody therapeutics. KaloBios Pharmaceuticals (Nasdaq: KBIO) on Dec. 29, 2015, filed a voluntary petition for bankruptcy protection under Chapter 11 of Title 11 of the United States Bankruptcy Code (Bankr. D. Del. Case No. 15-12628). The Company was represented by Eric D. Schwartz of Morris, Nichols, Arsht & Tunnell. Six months after its bankruptcy filing, KaloBios emerged from Chapter 11 bankruptcy and has also acquired the rights from Savant Neglected Diseases LLC to develop benznidazole for the treatment of Chagas disease. KALOBIOS PHARMACEUTICALS: Incurs $5.42 Million Net Loss in Q1 ------------------------------------------------------------- Kalobios Pharmaceuticals, Inc., filed with the Securities and Exchange Commission its quarterly report on Form 10-Q disclosing a net loss of $5.42 million for the three months ended March 31, 2016, compared to a net loss of $9.62 million for the three months ended March 31, 2015. As of March 31, 2016, KaloBios had $8.49 million in total assets, $8.18 million in total liabilities, and $308,000 in total stockholders' equity. The Company has not generated net income from operations, except for the year ended Dec. 31, 2007, during which it recognized a one-time license payment from Novartis. "The Company has incurred significant losses and had an accumulated deficit of $219.0 million as of March 31, 2016. The Company has financed its operations primarily through the sale of equity securities, debt financings, interest income earned on cash and cash equivalents, grants and the payments received under its agreements with Novartis Pharma AG ("Novartis") and Sanofi Pasteur S.A. ("Sanofi"). The Company completed its initial public offering in February 2013. To date, none of the Company's product candidates have been approved for sale and therefore the Company has not generated any revenue from product sales. Management expects operating losses to continue for the foreseeable future. As a result, the Company will continue to require additional capital through equity offerings, debt financing and/or payments under new or existing licensing or collaboration agreements. If sufficient funds are not available on acceptable terms when needed, the Company could be required to significantly reduce its operating expenses and delay, reduce the scope of, or eliminate one or more of its development programs. The Company's ability to access capital when needed is not assured and, if not achieved on a timely basis when needed, could materially harm its business, financial condition and results of operations. These conditions raise substantial doubt about the Company's ability to continue as a going concern." The Company's quarterly report on Form 10-Q is available from the SEC website at https://is.gd/YA5mJA About KaloBios Pharmaceuticals Based in South San Francisco, Calif., KaloBios Pharmaceuticals, Inc., is a biopharmaceutical company focused on the development of monoclonal antibody therapeutics. KaloBios Pharmaceuticals (Nasdaq: KBIO) on Dec. 29, 2015, filed a voluntary petition for bankruptcy protection under Chapter 11 of Title 11 of the United States Bankruptcy Code (Bankr. D. Del. Case No. 15-12628). The Company was represented by Eric D. Schwartz of Morris, Nichols, Arsht & Tunnell. Six months after its bankruptcy filing, KaloBios emerged from Chapter 11 bankruptcy and has also acquired the rights from Savant Neglected Diseases LLC to develop benznidazole for the treatment of Chagas disease. KATHERINE MONTGOMERY: Disclosures OK'd; Plan Hearing on Oct. 19 --------------------------------------------------------------- The Hon. Clifton R. Jessup, Jr., of the U.S. Bankruptcy Court for the Northern District of Alabama has approved Katherine N. Montgomery's amended disclosure statement describing the Debtor's plan of reorganization. A hearing on Confirmation of the Plan will be held on Oct. 19, 2016, at 1:30 p.m. As reported by the Troubled Company Reporter on Sept. 15, 2016, the Debtor's Plan proposes that starting 60 days after the Court approves the Plan, the Debtor will make a payment of $59.03 per month to the creditors in the Class 4 - General Unsecured Claims until 5% of each filed claim in this class is paid. Oct. 10, 2016, is fixed as the last day by which creditors and parties in interest must file any objections to confirmation of the Plan. Oct. 10, 2016, at 5:00 p.m., CDT is also fixed as the deadline by which the holders of claims and interests against the Debtor must file ballots accepting or rejecting the Plan. The Debtor must tabulate all acceptances and rejections of the Plan and file a Ballot Summary with the Court by Oct. 12, 2016, at 5:00 p.m. About Katherine Montgomery Katherine N. Montgomery, a medical doctor in Madison County, Alabama, sought protection under Chapter 13 of the Bankruptcy Code on October 29, 2015. The case was converted to a Chapter 11 case (Bankr. N. D. Ala. Case No. 15-82936) on January 15, 2016. Sparkman, Shepard & Morris, P.C., represents the Debtor. KEITH GUERZON: Disclosures Okayed, Plan Hearing on Oct. 26 ---------------------------------------------------------- A U.S. bankruptcy judge on Sept. 13 approved the outline of the Chapter 11 plan of reorganization proposed by Keith Guerzon. Judge Robert Drain of the U.S. Bankruptcy Court for the Southern District of New York gave the thumbs-up to the disclosure statement after finding that it contains "adequate information." The order set an October 21 deadline for creditors to cast their votes and file their objections to the restructuring plan. A court hearing to consider confirmation of the plan is scheduled for October 26, at 10:00 a.m. The hearing will take place at the United States Courthouse, 300 Quarropas Street, White Plains, New York. About Keith Guerzon Keith Guerzon sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S. D. N.Y. Case No. 14-22171). The case is assigned to Judge Robert D. Drain. KENNETH MERIWETHER: Court Confirms Reorganization Plan ------------------------------------------------------ A U.S. bankruptcy judge on September 15 approved the Chapter 11 plan of reorganization of Kenneth and Margit Meriwether. Judge Ralph Kirscher of the U.S. Bankruptcy Court for the District of Montana gave the thumbs-up to the plan after finding that it satisfies the requirements for confirmation under the Bankruptcy Code. In the same order, the bankruptcy judge gave final approval to the disclosure statement explaining the plan, saying it contains "adequate information." Kenneth R. Meriwether and Margit G. Meriwether sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Mont. Case No. 15-60002). The case is assigned to Judge Ralph B. Kirscher. KIP AND ANDREA: Unsecureds To Be Paid in Full Under Plan -------------------------------------------------------- Kip and Andrea Richards Family Farm & Ranch, LLC, filed with the U.S. Bankruptcy Court for the District of Nevada a third amended disclosure statement describing the Debtors' plan of reorganization. Holders of Class 4 General Unsecured Claims, which consists primarily of the unsecured claims of trade creditors, estimates that the claims will upon final allowance and determination, total approximately $66,353, but that estimate is subject to change and should not be considered binding on the Debtor. Under the Plan, this class will be paid in full. The Debtor's plan calls for the Debtor to sell 918 acres of land for approximately $4 million, and immediately pay that amount to Rabo to pay off the RLOC loan in full. The Debtor will also sell an as yet to be determined number of cattle to cover its administrative claims as well as expenses in the coming year, and Debtor will then pay the remaining amounts owed to Rabo on the land loan on a 25 year amortization with a 5 year balloon payment. The Third Amended Disclosure Statement is available at: http://bankrupt.com/misc/neb15-40070-267.pdf Headquartered in Hayes Center, Nebraska, Kip and Andrea Richards Family Farm & Ranch, LLC, dba Richards Farm & Ranch, LLC, filed for Chapter 11 bankruptcy protection (Bankr. D. Neb. Case No. 15-40070) on Jan. 21, 2015, estimating its assets at between $10 million and $50 million and its debts at between $1 million and $10 million. The petition was signed by Kip L. Richards, manager. Judge Shon Hastings presides over the case. William L. Biggs, Jr., Esq., and Frederick D. Stehlik, Esq., at Gross & Welch serve as the Debtors' counsel. LEAR CORP: Moody's Withdraws Ba1 Corporate Family Rating -------------------------------------------------------- Moody's Investors Service upgraded Lear Corporation's senior unsecured notes to Baa3 from Ba1. In a related action, Lear's Corporate Family, Probability of Default, and Speculative Grade Ratings have been withdrawn. The rating outlook is stable. The following ratings were upgraded: -- Senior Unsecured Regular Bond/Debenture due 2025, to Baa3 from Ba1 (LGD4) -- Senior Unsecured Regular Bond/Debenture due 2023, to Baa3 from Ba1 (LGD4) -- Senior Unsecured Regular Bond/Debenture due 2024, to Baa3 from Ba1 (LGD4) -- Senior Unsecured Shelf, to (P)Baa3 from (P)Ba1 -- Rating Outlook: Stable The following ratings were withdrawn: -- Ba1, Corporate Family Rating -- Ba1-PD, Probability of Default Rating -- SGL-1, Speculative Grade Liquidity Rating RATINGS RATIONALE The Baa3 rating reflects Lear's demonstrated ability to improve profit margins in both its seating and electronic units through new business, higher volumes, and ongoing cost reductions. For the last twelve months ending July 2, 2016, Lear's EBITA margin (inclusive of Moody's standard adjustments) approximated 7.8%. While Lear's electrical business has historically generated margins in the low teens, the seating business' margins have improved into the high single digit range in 2016. Moody's believes that Lear has sufficient flexibility in its operating costs, that with its low financial leverage it should be able to manage through a reasonable down cycle to remain profitable. Lear maintains a strong competitive position as the #2 supplier of automotive seating (about 77% of sales in 2016) and electrical power systems (23%). As automotive vehicle electronic content increases, Lear should also grow even if automotive unit volume does not. However, Lear's strength is in the important, but more basic, automotive content of seats and electrical connections, rather than advanced electronics or operating systems. As a result, Moody's does expect moderate sized, technology based acquisitions over the intermediate-term, although likely funded in whole or part by the company's strong free cash flow generation. Lear's OEM customers continue to invest in technologically advanced products related to, among others, occupant safety, emissions control, and electronic content and connectivity. As such, risks remain around choosing the technologies that are the ultimately accepted by the consumer. Yet, over the intermediate-term Lear's seating business is expected to be the primary driver of revenues and profit dollars and that is likely to be in sync with automotive production. Lear is expected to have significant customer concentration for some time. Its top three customers (GM, Ford, and BMW) generated 53% of net sales in 2015 and, in 2016, the US customers have had strong revenue growth. However, as global automotive demand plateaus, Lear's profit growth will slow. Higher ratings over the intermediate-term will be limited by slowing global automotive demand, and challenges around investments in technology at Lear's customers and the relative positioning of Lear's key automotive peers. However, the rating could be upgraded with the expectation of EBITA sustained at or above 9%, maintaining Debt/EBITDA under 2.0x and EBITA/Interest coverage, inclusive of restructuring charges, over 7x. These metrics incorporate executing organic and acquisitive growth initiatives with balanced financial policies. The ratings could be downgraded with a deterioration in the credit quality or market position of any of Lear's major customers; logistical industry disruptions which impact Lear's ability to deliver products to customers at the quality and with the timeliness expected; or acquisitions or shareholder return initiatives that are transacted in a more aggressive fashion than has been demonstrated by the company; or a broad deterioration in automotive industry conditions including macroeconomic weakness in one or more of the company's geographic markets. Lear's outlook or rating also could be lowered if EBITA margins deteriorate below 7%, EBITA/Interest below 5.5x, Debt/EBITDA increases to over 2.5x, or if the company's liquidity profile deteriorates as a result of deteriorating free cash flow generation, lower cash balances, or the inability to access committed availability under the revolving credit facility. The principal methodology used in these ratings was Global Automotive Supplier Industry published in June 2016. Lear Corporation, headquartered in Southfield, MI, is one of the world's leading suppliers of automotive seating and electrical power management systems. The company had net sales of $18.4 billion for the LTM period ending July 2, 2016. LEON HALL: Selling Ford Excursion to Purchase Replacement Vehicle ----------------------------------------------------------------- Leon Francis Hall asks the U.S. Bankruptcy Court for the District of Kansas to authorize the sale of 2004 Ford Excursion, VIN# 1FMSU45P74EB94847, at fair market value. The Debtor is consistently experiencing costly repairs with his current vehicle, and the diesel engine in the vehicle has significant difficulty operating during the winter months. The Excursion has over 200,000 miles on it, and Debtor can obtain $10,000 as the trade-in value for the vehicle. Credit Union of America holds a validly perfected lien on the Excursion. The Debtor listed the claim of Credit Union of America at $9,776 on Schedule D. The current balance of the loan is $316, and Debtor anticipates that it will be paid in full at the time of sale. The Debtor further requests to use the proceeds from the sale to purchase a replacement vehicle that is more reliable and has a gas engine so that it will operate through the winter. Due to Debtor's 6'5" size and back problems, his vehicle options are limited. The Debtor will not sell the vehicle to any insider, nor will Debtor purchase any replacement vehicle from an insider. Any purchase and sale agreement will be negotiated at arm's length. Specifically, the Debtor seeks to conduct the sale and purchase transaction with a licensed dealer in the state of Kansas. At the present time, Debtor has negotiated a purchase of a 2010 Ford Expedition. The Debtor seeks to enter into the purchase and sale agreement, and to finance any balance, in the case $7,870, but up to a maximum amount of $10,000 in the event that the transaction reflected cannot be consummated. The Debtor will finance such amount at an interest rate not to exceed 7% per annum, with a term not to exceed 60 months. The Debtor will pay off the financed balance with the Debtor's exempt Social Security Disability lump sum benefits, which are not property of the estate, once those benefits are received. Finally, the Excursion is currently titled in the name of Betty Jensen, but is owned by the Debtor as listed on Schedule B. Debtor has made all payments for the Excursion, and Ms. Jensen was listed on the title solely for the purpose of helping the Debtor obtain financing. The Debtor is informed and believes that Ms. Jensen will not voluntarily execute the necessary paperwork as she asserts that she holds an unsecured claim, for which she has not filed any proof of claim herein. The Debtor seeks authority to execute any paperwork necessary to convey valid title to the buyer, and further seeks to compel Betty Jensen to sign any paperwork necessary for transfer of the Excursion upon satisfaction of the lien held by Credit Union of America. Debtor believes it is in his best interests and that of the bankruptcy estate and its creditors to sell the 2004 Ford Excursion at fair market value for the purpose of purchasing a more economical replacement vehicle. Leon Francis Hall sought Chapter 11 protection (Bankr. D. Kan. Case No. 14-21588) on July 7, 2014. LIGHTSTREAM RESOURCES: Receives Initial Order for CCAA Protection ----------------------------------------------------------------- Lightstream Resources Ltd. (LTS) disclosed that on Sept. 26, 2016, it obtained an initial order (the "Initial Order") from the Court of Queen's Bench of Alberta (the "Court") under the Companies' Creditors Arrangement Act (the "CCAA") as the Company continues working to restructure its balance sheet. Pursuant to the Initial Order, the Company has obtained a stay of proceedings from creditor claims and the exercise of contractual rights and remedies for an initial period expiring on October 26, 2016 which may be extended by the Court as it deems appropriate. The Company has also obtained approval of our proposed sale procedures which are a continuation of the previously announced sale and investment solicitation process that commenced on July 13, 2016. During the CCAA proceedings, Lightstream expects that its operations will continue uninterrupted in the ordinary course of business and that all pre- and post-filing obligations to service providers, suppliers and contractors will continue to be met on a normal course basis as will ongoing obligations to the Company's customers. FTI Consulting Canada Inc. has been appointed Monitor of the Company for the CCAA proceedings. A copy of the Initial Order will be made available and details relating to this case may be accessed on the Monitor's website at cfcanada.fticonsulting.com/Lightstream The Monitor has also established an information line at 1-855-344-1825 and a dedicated email address at lightstream@fticonsulting.com for the purposes of receiving and responding to enquiries regarding the CCAA process. While under CCAA protection, management of the Company will remain responsible for the day-to-day operations of the Company under the general oversight of the Monitor. In addition, the Company has received an order from the Court allowing the Company to postpone its annual general meeting of shareholders ("AGM") to a date not later than March 31, 2017. The Company has determined that it is appropriate to postpone the AGM until it has greater clarity regarding the outcome of its restructuring. As a result, the AGM scheduled to be held at 9:00 a.m. on September 30, 2016 has been postponed until such later date as the Lightstream Board of Directors shall determine. About Lightstream Resources Lightstream Resources Ltd. is an oil and gas exploration and production company focused on light oil in the Bakken and Cardium resource plays. * * * The Troubled Company Reporter, on Aug. 23, 2016, reported that S&P Global Ratings said it affirmed its 'D' long-term corporate credit and senior unsecured debt ratings on Lightstream Resources Ltd. S&P Global Ratings subsequently withdrew the ratings. At the time of the withdrawal, Lightstream was still negotiating with its debtholders to reach a definitive agreement on debt restructuring. LKN PROPERTIES: Hires Shulman Hodges as Bankruptcy Counsel ---------------------------------------------------------- LKN Properties, Inc. seeks authorization from the U.S. Bankruptcy Court for the Central District of California to employ Shulman Hodges & Bastian LLP as general bankruptcy counsel. LKN requires Shulman to: 1. advise the Debtor with respect to its rights, powers, duties and obligations as a debtor in possession in the administration of this case, the management of its business affairs and the management of its property; 2. advise and assist the Debtor with respect to compliance with the requirements of the Office of the United States Trustee. 3. advise the Debtor regarding matters of bankruptcy law, including the rights and remedies of the Debtor with respect to its assets and with respect to the claims of creditors. 4. represent the Debtor in any proceedings or hearings in the Bankruptcy Court related to bankruptcy law issues. 5. conduct examinations of witnesses, claimants, or adverse parties and to prepare and assist in the preparation of reports, accounts and pleadings related to the Debtor's Chapter 11 case. 6. advise the Debtor regarding its legal rights and responsibilities under the Bankruptcy Code and the Federal Rules of Bankruptcy Procedure. 7. assist the Debtor in the negotiation, preparation and confirmation of a plan of reorganization. 8. perform any and all other legal services incident and necessary as the Debtor may require of the Firm in connection with its Chapter 11 case. Shulman Hodges will be paid at the Firm's hourly rates, which may be subject to adjustment from time to time, plus reimbursement of expenses and costs. The firm's hourly billing rates: Leonard M. Shulman $550.00 Ronald S. Hodges $550.00 James C. Bastian, Jr. $550.00 J. Ronald Ignatuk $550.00 Gary A. Pemberton $550.00 Michael J. Petersen $550.00 Melissa Davis Lowe $395.00 Franklin J. Contreras, Jr. $475.00 Samuel J. Romero $425.00 Lynda T. Bui $450.00 Kiara W. Gebhart $395.00 Lorre E. Clapp $250.00 Erlanna L. Lohayza $250.00 Pamela G. Little $250.00 Patricia A. Britton $195.00 Steve P. Swartzell $195.00 Anne Marie Vernon $195.00 Tammy Walsworth $195.00 Britney Q. Bailey $185.00 Arland Udo $165.00 Tonia Mann-Wooten $150.00 Rika M. Kido $375.00 Ryan O'Dea $375.00 A. Lavar Taylor $575.00 Heather B. Dillon $295.00 Donald R. Kurtz $550.00 Elyza P. Eshaghi $275.00 Gregory J. Anderson $475.00 Brianna L. Frazier $275.00 Robert E. Huttenhoff $475.00 The firm's James C. Bastian, Jr., Esq., tells the Court that Shulman Hodges is disinterested as that term is defined in Bankruptcy Code Section 101(14) and represents no interest adverse to the Debtor or its Estate. As of the Petition Date, the firm was not a creditor of the Estate and was not owed any funds by the Debtor. Shulman Hodges can be reached at: James C. Bastian, Jr., Esq. SHULMAN HODGES & BASTIAN LLP 100 Spectrum Center Drive, Suite 600 Irvine, CA 92618 Telephone: (949) 340 3400 Facsimile: (949) 340 3000 E-mail: jbastian@shbllp.com About LKN Properties LKN Properties Inc. is a nonresidential building operator located at 3762 Hendrix Street, Irvine, California. LKN filed a Chapter 11 bankruptcy petition (Bankr. C.D. Cal. Case No. 16-13734) on September 6, 2016. The petition was signed by Lien Nguyen, President. Judge Catherine E. Bauer is assigned to the case. The Debtor estimated $1 million to $10 million in both assets and liabilities. LOUIS WELTMAN: Distribution to Unsecureds Limited to $300,000 ------------------------------------------------------------- Louis Solomon Weltman filed with the U.S. Bankruptcy Court for the Northern District of Florida a first amended disclosure statement for plan of reorganization dated Sept. 2, 2016. Under the Plan, Class 5 General Unsecured Claims is impaired. The aggregate amount of the scheduled Class 5 claims is $30,179,252.50. The claims filed by Vizio, Inc., Amtran Technologies, PNC, and Carole R. Korn against the Debtor are disallowed. Any judgments entered against the Debtor by them are directed to be set aside as void ab initio. Pursuant to the settlement by and between the Debtor and U.S. Bank, N.A., as the indenture trustee, the Indenture Trustee will not participate in any distributions pursuant to the treatment of its claim as part of this Class 5. Upon the Effective Date, the unsecured claimants in Class 5 will share proportionately in the Debtor's income for each distribution year during the distribution period, subject to the limitations set forth in Section 6(b), subsections (i) through (vii) income, as follows: (i) income expressly includes any distributions to Weltman from Losowe or Phoenix, whether in respect of Weltman's capital accounts or the Weltman employment agreement as the terms are used in this Disclosure Statement; (ii) income expressly excludes any distributions of capital from Highland related to Weltman's capital account, but includes any distribution of income from Highland, subject to the approval of the transfer of the membership interests of Highland pursuant to the Plan; (iii) aggregate distributions to the unsecured claimants by Weltman will be limited during the distribution period to $300,000; (iv) exempt income amount will be exempt from distribution to the unsecured claimants; (v) for each distribution year, the Class 5 Claimants will be distributed that percentage of income above the exempt income amount as follows: Year 1, 5%; Year 2, 7.5%; Year 3, 10%; Year 4, 12.5%; and Year 5, 15%; (vi) other than the Class 5 distribution participation, the exempt income amount and the Class 5 distribution cap, there will be no other limitation on the absolute dollar amount of income to be distributed to the unsecured claimants in any distribution year; (vii) the Class 5 Claimants will be provided periodic accounting reports by the Debtor's accountant in a form and as frequently as the Debtor and the Class 5 claimants agree. Funds to be used to make cash payments under the Plan will derive from the Debtor's cash on the Effective Date, income of the Debtor and from minimal loans from NWJ Gator Investments, LLC, subject to the resolution of the adversary proceeding. The Disclosure Statement is available at: http://bankrupt.com/misc/flnb14-40331-325.pdf The Plan was filed by: David Lloyd Merrill, Esq. MERRILL PA Trump Plaza Office Center 525 S. Flagler Drive, 5th Floor West Palm Beach, Florida 33401 Tel: (561) 877-1111 Louis Solomon Weltman filed a Chapter 11 petition (Bankr. N.D. Fla. Case No. 14-40331). LUIS BURGOS: Has Until Nov. 21 to File Opening Brief ---------------------------------------------------- In the case captioned JONATHAN B. GOLDSMITH, ESQ., Appellant, v. UNITED STATES TRUSTEE, Appellee, Case No. 2:15-cv-2473-JAD (D. Nev.), Judge Jennifer A. Dorsey of the United States District Court for the District of Nevada approved a fourth stipulation seeing a 60-day extension of time that will allow the Appellant until November 21, 2016 to file an opening brief. The Appelle's answering brief will be due within 60 days after the opening brief is due on January 20, 2017. The Appellant must file and serve a reply brief within 14 days after the answering brief is due on February 3, 2017. This proceeding was commenced on December 22, 2015, when appellant filed a notice of appeal from bankruptcy court order (1) granting Appellee's motion for disgorgement of fees pursuant to 11 U.S.C. 329 that were paid to Appellant; and (2) denying Appellant's request for allowance of fees and expenses pursuant to 11 U.S.C. 330. In accordance with Fed. R. Bankr. P. 8009, Appellant filed a designation of record, a statement of issues, and ordered a transcript of the bankruptcy proceeding. The Appellee filed her supplement designation of record. The record on appeal was transmitted by the Bankruptcy Court on January 12, 2016. The parties had reached a settlement to resolve this appeal, and sought a stay of the briefing schedule which was granted. Due to a dispute between the parties, a settlement did not occur. The Bankruptcy Court entered an Order on June 15, 2016 denying the motion to approve settlement agreement as having been withdrawn. On July 5, 2016, the Court entered an Order Lifting Stay and Resetting Briefing Schedule. On July 25, 2016, the parties filed their third stipulation to reset the briefing deadlines. The Court entered an Order granting the third stipulation on July 26, 2016. A full-text copy of Judge Dorsey's Order dated September 20, 2016, is available at https://is.gd/VA3oRw from Leagle.com. Jonathan B. Goldsmith, Esq., Appellant, Pro Se. United States Trustee, Appellee, represented by Brian E. Goldberg, Office of the United States Trustee. U.S. Trustee, Trustee, Pro Se. U.S. Trustee, Trustee, represented by Terri H. Didion, U.S. Dept. of Justice / Office of the U.S. Trustee. Luis Burgos and Dorian Alicia Burgos filed a Chapter 11 petition (Bankr. D. Nev. Case No. 15-13490) on June 17, 2015. MAGNOLIA LANE: Changes Name to "Huntwicke Capital Group Inc." ------------------------------------------------------------- Magnolia Lane Income Fund filed a Certificate of Amendment to its Articles of Incorporation to change the name of the Company from "Magnolia Lane Income Fund" to "Huntwicke Capital Group Inc." On Sept. 19, 2016, the Company filed the Name Change and a request for a ticker symbol change with the Financial Industry Regulatory Authority. On Sept. 23, 2016, FINRA announced the Name Change and the ticker symbol of the Company changed from "MIFC" to "HCGI". About Magnolia Lane Magnolia Lane Income Fund was incorporated in the state of Delaware on May 12, 2009. The Company was formed to commence business as a stock agent in the wool trade. On May 13, 2013, the Company entered into a stock purchase agreement with Ian Raleigh and Michael Raleigh and Magnolia Lane Financial, Inc., whereby the Purchaser purchased from the Sellers, 10,000,000 shares of common stock, par value $0.0001 per share, of the Company, representing approximately 69.57% of the issued and outstanding shares of the Company. As a result, the Purchaser became the majority shareholder of the Company. Magnolia Lane reported a net loss of $197,969 for the year ended April 30, 2016, compared to a net loss of $187,294 for the year ended April 31, 2015. As of July 31, 2016, Magnolia Lane had $3.58 million in total assets, $2.01 million in total liabilities and $1.56 million in total equity. Liggett & Webb, P.A., in Boynton Beach, Florida, issued a "going concern" qualification on the consolidated financial statements for the year ended April 30, 2016, citing that the Company has used cash in operations of $22,835 and an accumulated deficit of $707,094 at April 30, 2016. These matters raise substantial doubt about the Company's ability to continue as a going concern. MARK CAREY COMEAUX: U.S. Trustee Opposes Approval of Plan Outline ----------------------------------------------------------------- Henry Hobbs, Jr., acting U.S. trustee for Region 5, has objected to the approval of the disclosure statement filed by Mark and Lisa Comeaux in support of their Chapter 11 plan of reorganization. In a filing with the U.S. Bankruptcy Court for the Western District of Louisiana, Mr. Hobbs criticized the Debtors for filing inaccurate monthly operating reports for April and June. "Both appear to show negative cash flow but increasing cash on hand over the course of each month, which should not be possible," he said. "Debtors' failure to maintain current and accurate monthly operating reports means that their disclosure statement cannot provide adequate information," Mr. Hobbs said, adding that the Debtors cannot establish the feasibility of their plan without accurate statements of their income and expenses. Under the plan, general unsecured creditors will get 14% of their claims. The plan proposes to pay $400 per quarter to Class 6 general unsecured creditors. This will amount to payments of $8,000 over the course of the plan. Mr. Hobbs is represented by: Richard H. Drew, Esq. Trial Attorney Office of U.S. Trustee 300 Fannin Street, Suite 3196 Shreveport, Louisiana 71101 Tel: (318) 676-3456 About Mark and Lisa Comeaux Mark Carey Comeaux and Lisa Dugas Comeaux sought protection under Chapter 11 of the Bankruptcy Code (Bankr. W.D. La. Case No. 15-20865) on October 6, 2015. MEDITE CANCER: Default in Notes Raises Going Concern Doubt ---------------------------------------------------------- MEDITE Cancer Diagnostics, Inc., filed its quarterly report on Form 10-Q, disclosing a net loss of $202,000 on $2.82 million of net sales for the three months ended June 30, 2016, compared with a net loss of $73,000 on $2.13 million of net sales for the same period in 2015. The Company's balance sheet at June 30, 2016, showed $18.73 million in total assets, $9.84 million in total liabilities, and a stockholders' equity of $8.89 million. At June 30, 2016, the Company had approximately, $1.9 million of accrued liabilities which represents unpaid wages and vacation benefits. At December 31, 2015, the Company refinanced $927 of these liabilities through notes due to employees which are payable over a three year period and are convertible into equity at a discount defined in the agreement. At June 30, 2016, the Company was in default on certain notes with employees due to missed monthly payments. The Company has classified all notes in default as short-term on the Consolidated Balance Sheets. Included in accounts payable and accrued expenses are accrued salaries and benefit expenses due to the Company's Chief Financial Officer, Robert McCullough of $1,000,000. Also, $110,000 is due to the Company's CEO and COO, Michaela and Michael Ott. The Company believes executives and employees will work with the Company to ease financial strains emanating from amounts currently due and payable. The Company believes some portion of these liabilities will be settled in stock. The current level of working capital shortfalls has been partially financed by additional advances on the Company's credit lines with a German bank and from recently issued secured promissory notes. In order to continue growing the business, the Company is planning to raise additional funds through the sale of equity securities or convertible debt. The Company is also investigating additional bank financing with European institutions which will increase the availability against current collateral of approximately $5 million. The Company's security agreement with its lender has provided borrowings of 35% of its collateralized assets. The Notes matured on June 30, 2016 and were not repaid. Therefore, the Notes were in default as of April 1, 2016. The Company agreed to pay the Purchasers 10% of the principal balance of the Notes in warrants for the months of April 2016, May 2016 and June 2016 and by the date of this filing, July and August 2016. Therefore, for the months of April, May and June 2016, the Company issued 150,000 warrants and recorded interest expense related to the issuance of these warrants, attributable to the secured promissory notes of approximately $50,850. The Company anticipates that some of the noteholders will convert their matured notes into convertible debt or equity which the company may offer near term. The Company is investigating various sources of debt and equity to assist them in their growth plans and to refinance their maturing debt obligations. The Company is working on extending its payment terms on employee notes, raising additional equity and refinancing debt and other noteholders. In addition, the Company may need to slow the pace of some of their new product rollouts. If management is unsuccessful in obtaining new forms of debt or equity financing, they will begin negotiating with some of their major vendors and lenders to extend the terms of their debt and also evaluate certain expenses that have been implemented for the Company's growth strategy. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. As a result of all these factors and conditions there is substantial doubt about the Company's ability to continue as a going concern. A copy of the Form 10-Q is available at: https://is.gd/PRhson About MEDITE Cancer Diagnostics MEDITE Cancer Diagnostics, Inc. is an Orlando-based medical technology company that develops, manufactures and markets molecular biomarkers, medical devices and consumables for detection, risk assessment and diagnosis of cancerous and precancerous conditions and related diseases. The Company has a distribution network of about 70 countries and a product range of anatomic pathology, histology and cytology laboratories available for sale. MESOBLAST LIMITED: PricewaterhouseCoopers Casts Going Concern Doubt ------------------------------------------------------------------- Mesoblast Limited filed its annual report on Form 20-F, disclosing a net loss of $4.13 million on $42.55 million of revenue for the fiscal year ended June 30, 2016, compared with a net loss of $96.24 million on $19.76 million of revenue for the fiscal year ended June 30, 2015. PricewaterhouseCoopers in Melbourne, Australia, states that the Company has suffered recurring losses from operations that raise substantial doubt about its ability to continue as a going concern. The Company's balance sheet at June 30, 2016, showed $684.02 million in total assets, $155.86 million in total liabilities, and a stockholders' equity of $528.16 million. A copy of the Form 20-F is available at: https://is.gd/lYnUgj Mesoblast Limited is engaged in developing cell-based medicines. The Company has leveraged its technology platform, which is based on specialized cells known as mesenchymal lineage adult stem cells, to establish a portfolio of late-stage product candidates. Its allogeneic, off-the-shelf cell product candidates target advanced stages of diseases with high, unmet medical needs, including cardiovascular conditions, orthopedic disorders, immunologic and inflammatory disorders and oncologic/hematologic conditions. MICHAEL EDWARD KELLY: Disclosure Statement Hearing Set for Oct. 19 ------------------------------------------------------------------ The U.S. Bankruptcy Court for the Central District of California is set to hold a hearing on October 19, at 2:00 p.m., to consider approval of the disclosure statement explaining the Chapter 11 plan of Michael Edward and Alice Teresa Kelly. The hearing will take place at Courtroom 6C, 411 W. Fourth Street Santa Ana, California. Objections must be filed no later than 14 days prior to the hearing. The Debtors are represented by: Chris Barsness, Esq. BarthCalderon, LLP 333 City Blvd. West, Suite 2050 Orange, CA 92868 Phone (714) 704-4828 Fax (714) 704-1513 Email: Cbarsness@barthattorneys.com Michael Edward and Alice Teresa Kelly sought protection under Chapter 11 of the Bankruptcy Code (Bankr. C.D. Cal. Case No. 16-10169) on January 15, 2016. MICROVISION INC: Signs Asset Purchase Agreement with Lincoln Park ----------------------------------------------------------------- MicroVison, Inc., entered into a purchase agreement with Lincoln Park Capital Fund, LLC, pursuant to which the Company has the right to sell to LPC up to $17,025,000 in shares of the Company's common stock, subject to certain limitations and conditions set forth in the Purchase Agreement. Pursuant to the Purchase Agreement, upon the satisfaction of all of the conditions to the Company's right to commence sales under the Purchase Agreement, LPC will initially purchase $2,025,000 in shares of Common Stock at a purchase price of $1.50 per share. Following the Initial Purchase, from time to time on any trading day the Company selects, the Company has the right, in its sole discretion, subject to the conditions and limitations in the Purchase Agreement, to direct Lincoln Park to purchase up to 150,000 shares of its common stock over the 24-month term of the Purchase Agreement. The purchase price of shares of Common Stock pursuant to the Purchase Agreement will be based on the prevailing market price at the time of sale as set forth in the Purchase Agreement. There are no trading volume requirements or restrictions under the Purchase Agreement. Lincoln Park's obligation under each Regular Purchase shall not exceed $1,000,000. There is no upper limit on the price per share that LPC must pay for the Company's common stock under the Purchase Agreement, but in no event will shares be sold to Lincoln Park on a day the Company's closing price is less than the floor price as set forth in the Purchase Agreement. Both the amount and frequency of the Regular Purchases can be increased upon the mutual agreement of the Company and LPC. The Company will control the timing and amount of any sales of Common Stock to LPC. In addition, the Company may direct LPC to purchase additional amounts as accelerated purchases if on the date of a regular purchase the closing sale price of the Common Stock is not below $1.00. The Company has agreed with LPC that it will not enter into any "variable rate" transactions with any third party from the date of the Purchase Agreement until the expiration of the 24-month period following the date of the Purchase Agreement, subject to certain exceptions. The Purchase Agreement contains customary representations, warranties and agreements of the Company and LPC, limitations and conditions to completing future sale transactions, indemnification rights and other obligations of the parties. Actual sales of shares of Common Stock to LPC under the Purchase Agreement will depend on a variety of factors to be determined by the Company from time to time, including (among others) market conditions, the trading price of the Common Stock and determinations by the Company as to other available and appropriate sources of funding for the Company. The Company has the right to terminate the Purchase Agreement at any time, at no cost to it. As consideration for entering into the Purchase Agreement, the Company is issuing to LPC 522,556 shares of its common stock as Commitment Shares. LPC does not have the right to terminate the Purchase Agreement upon any of the events of default as set forth in the Purchase Agreement; however, during an event of default, all of which are outside the control of LPC, shares of the Company's common stock cannot be sold by the Company or purchased by LPC under the terms of the Purchase Agreement. The offer and sale of the shares under the Purchase Agreement was made pursuant to the Company's registration statement on Form S-3 (SEC File No. 333-211869), which was declared effective by the SEC on June 22, 2016, and pursuant to the prospectus supplement filed on Sept. 23, 2016. The Company intends to use the net proceeds from this offering to for general corporate purposes, which may include, but are not limited to, working capital, capital expenditures, and acquisitions of other technologies. Pending the application of the net proceeds, the Company expects to invest the proceeds in investment-grade, interest-bearing instruments or other securities. In connection with the offering of shares under the Purchase Agreement, the Company engaged Financial West Group as a placement agent. Financial West Group will receive a cash placement fee of $15,000. FWG is not involved in the re-offering of the Common Stock of the Company by LPC and shall be not be entitled to additional compensation upon the sale of any Common Stock to Lincoln Park pursuant to the Purchase Agreement. A copy of the Purchase Agreement is available for free at: https://is.gd/zCPVHn About MicroVision Redmond, Washington-based MicroVision, Inc. is developing its PicoP(R) display technology that can be adopted by its customers to create high-resolution miniature laser display and imaging modules. This PicoP display technology incorporates the company's patented expertise in two-dimensional Micro-Electrical Mechanical Systems (MEMS), lasers, optics and electronics. MicroVision reported a net loss of $14.5 million on $9.18 million of total revenue for the year ended Dec. 31, 2015, compared to a net loss of $18.12 million on $3.48 million of total revenue for the year ended Dec. 31, 2014. Moss Adams LLP, in Seattle, Washington, issued a "going concern" qualification on the consolidated financial statements for the year ended Dec. 31, 2015, citing that the Company has suffered recurring losses from operations and has a net capital deficiency, which raises substantial doubt about its ability to continue as a going concern. MID CITY TOWER: Creditor Wants Case Converted to Ch. 7 ------------------------------------------------------ Dr. Bobby Z. Joseph, a creditor and party in interest, filed a motion asking the United States Bankruptcy Court for the Middle District of Louisiana to convert the Chapter 11 case under Chapter 7 or, Alternatively, to appoint a Chapter 11 Trustee for the Chapter 11 bankruptcy case filed by the Debtor, Mid City Tower, LLC. The petitioning Creditor asserts that the appointment is based on a cause, including, but not limited to the incompetence and gross mismanagement of the affairs of the Debtor, by the current manager, Mathew Thomas, who prior to the filing of the petition and through the current date has acted as the de facto manager of the Debtor. Moreover, the Creditor asserts that the conversion or the appointment of a trustee would be in the best interests of all creditors and the estate. The motion provides that there is no possibility of reorganization and, therefore, the case should be converted to a case under Chapter 7 or a Chapter 11 trustee should be appointed in order to properly list and sell the Property or have it sold at an auction in which the highest possible sales price will be obtained. Moreover, appointing a Chapter 11 Trustee would provide the Debtor with a true fiduciary to the bankruptcy estate. A true fiduciary is necessary to recover and preserve assets for the reorganization of the Debtor, and to provide payment to creditors. It is noted that the Debtor's budget indicates that it does not even have sufficient funds to perform the necessary repairs and improvements to the property so that it can operate on a profitable basis. The Counsel for the creditor is: Barry W. Miller, Esq. HELLER, DRAPER, PATRICK, HORN & DABNEY, L.L.C. 9311 Bluebonnet Blvd. Baton Rouge, LA 70810 Tel.: 225-767-149 Fax: 225-761-0760 Email: bmiller@hellerdraper.com About Mid City Tower Mid City Tower, LLC, based in Baton Rouge, LA, filed a Chapter 11 petition (Bankr. M.D. La. Case No. 16-10877) on July 26, 2016. The Hon. Douglas D. Dodd presides over the case. Brandon A. Brown, Esq., and Ryan James Richmond, Esq., at Stewart Robbins & Brown, LLC, serve as bankruptcy counsel. In its petition, the Debtor estimated $1 million to $10 million in assets and $1 million to $10 million in liabilities. The petition was signed by Mathew S. Thomas, manager. MILLENNIUM HOME: Pamela Rose Appointed PCO ------------------------------------------ Judy A. Robbins, the United States Trustee for the Western District of Texas, appointed Pamela Rose, as the patient care ombudsman for Millennium Home Health Care, Inc. The Trustee's Notice of Appointment of Patient Care Ombudsman is entered on September 20, 2016. Pursuant to 11 U.S.C. Sec. 333(a)(2)(A), Federal Rule of Bankruptcy Procedure 2007.2(c), and the Order Directing the Appointment of Patient Care Ombudsman entered by the Court on September 15, 2016, the United States Trustee is given the power to appoint a disinterested person as the Patient Care Ombudsman in the Chapter 11 case of the Debtor. About Millennium Home Health Care Millennium Home Health Care, Inc. filed a chapter 11 petition (Bankr. W.D. Tex. Case No. 16-51822-CAG) on Aug. 10, 2016. The Debtor operates as a home health care agency, providing skilled nursing to patients receiving care through Medicare, Medicaid and certain other private insurers. It also contracts with third parties to provide occupational therapy, speech therapy and physical therapy to its patients. The Debtor is represented by Randall A. Pulman, Esq. and Thomas Rice, Esq., at Pulman, Cappuccio, Pullen, Benson & Jones, LLP. MONAKER GROUP: Has Offering of 2 Million Shares ----------------------------------------------- Monaker Group, Inc. filed with the Securities and Exchange Commission a Form S-1 registration statement relating to the offering of up to 2,000,000 units, each consisting of one share of common stock and a warrant to purchase a share of common stock, with an exercise price of $___ per share. Each unit will be sold at a negotiated price of $___ per unit. The units will be issued or certificated. The shares of the Company's common stock issuable from time to time upon exercise of the warrants are also being offered pursuant to this prospectus. The Company's common stock is quoted on the OTCQB marketplace under the symbol "MKGI." On Sept. 21, 2016, the last reported sale price of the Company's common stock on the OTCQB was $2.63 per share. A full-text copy of the preliminary prospectus is available for free at https://is.gd/vYoQZh About Monaker Group Monaker Group, Inc., formerly known as Next 1 Interactive, Inc., is a digital media marketing company focusing on lifestyle enrichment for consumers in the travel, home and employment sectors. Core to its marketing services are key elements including proprietary video-centered technology and established partnerships that enhance its reach. Video is quickly becoming consumer's preferred method of searching and educating themselves prior to purchases. Monaker's video creation technology and film libraries combine to create lifestyle video offerings that can be shared both to its customers and through trusted distribution systems of its major partners. The end result is better engagement with consumers who gain in-depth information on related products and services helping to both inform and fulfill purchases. Unlike traditional marketing companies that simply charge for advertising creation, Monaker holds licenses and/or expertise in the travel, real estate and employment sectors allowing it to capture fees at the point of purchase while the majority of transactions are handled by Monaker's partners. This should allow the company to capture greater revenues while eliminating much of the typical overhead associated with fulfillment. Monaker core holdings include Maupintour, NameYourFee.com, RealBiz Media Group - helping it to deliver marketing solutions to consumers at home, work and play. Monaker Group reported a net loss of $4.55 million on $544,658 of total revenues for the year ended Feb. 29, 2016, compared to a net loss of $2.98 million on $1.09 million of total revenues for the year ended Feb. 28, 2015. As of Feb. 29, 2016, Monaker had $2.89 million in total assets, $3.03 million in total liabilities and a total stockholders' deficit of $137,610. As of May 31, 2016, the Company had $2.36 million in total assets, $3.05 million in total liabilities and total stockholders' deficit of $693,669. LBB & Associates Ltd., LLP, in Houston, Texas, in its report on the consolidated financial statements for the year ended Feb. 29, 2016, raised substantial doubt about the Company's ability to continue as a going concern. NAUTILUS FUNDING: Can Use $2.3K Cash Collateral on Interim Basis ---------------------------------------------------------------- Judge James J. Tancredi of the U.S. Bankruptcy Court for the District of Connecticut issued an Order on September 19, 2016, authorizing Nautilus Funding, Inc. to use Dime Savings Bank's cash collateral on a interim basis. Judge Tancredi authorized the Debtor to use up to but not in excess of $2,395 until Aug. 31, 2016 to meet all necessary business expenses incurred in the ordinary course of its business, as well as U.S. Trustee's statutory fees, in accordance of its Budget. Judge Tancredi granted Dime Savings Bank with replacement liens in all after-acquired property of the Debtor, of equal extent and priority to that which Dime Savings Bank enjoyed pre-petition. Dime Savings Bank was also granted relief from the automatic stay and was authorized to take whatever steps necessary under applicable law to perfect any replacement liens granted under the Order. The Debtor was directed to make an adequate protection payment to Dime Bank in the amount of $250 for the month of August, 2016. The Debtor was further directed to provide the secured creditors with a monthly register report from all DIP accounts showing all disbursements made beginning September 15, 2016. A hearing on the continued use of cash collateral is scheduled on Sept. 29, 2016 at 2:00 p.m. A full-text copy of the Order, dated September 19, 2016, is available at http://tinyurl.com/j7ey9j6 About Nautilus Funding Nautilus Funding, Inc. filed a Chapter 11 petition (Bankr. D. Conn. Case No. 16-21285) on August 7, 2016. The petition was signed by its John G. Syragakis, principal. Judge James J. Tancredi presides over the case. The Debtor is represented by Joseph J. D'Agostino, Esq. at Joseph J. D'Agostino, Jr., LLC of Wallingford, CT. At the time of filing, the Debtor estimated both assets and liabilities at $100,001 to $500,000. No trustee or examiner has been appointed in the proceedings. NEW YORK LIGHT: Unsecureds Slated for 7.6% Recovery in Plan ----------------------------------------------------------- According to their First Amended Disclosure Statement, New York Light Energy, LLC, et al., have a Chapter 11 plan that provides for, among other things: (i) an agreement with M&T Bank for (a) the payment in the amount of $200,000 from the Fund III Master Equipment Lease reserve account, (b) the repayment of a loan to the Debtors in the amount of $75,000 by Fund I to the Debtors and (c) the release of its security interest, subject to certain conditions; (ii) a sale of some the Debtors' assets to Light Energy Asset Management, LLC ("LEAM"); (iii) the liquidation of all of the property of each Debtor that is not being sold pursuant to the LEAM APA, except for the interests of LEM II in Fund II which vest in the Liquidating Trust upon confirmation of the Plan, (iv) the formation of a Liquidating Trust for the prosecution and collection of the Causes of Action against third parties whether or not such Causes of Action have already been commenced prior to the creation of the Liquidating Trust; (v) distributions to Holders of Allowed Claims; (vi) rejection of all executory contracts and unexpired leases to which any Debtor is a party that were not previously assumed, assigned, or rejected or are not being assumed, assigned, or rejected as part of the Plan; and (vii) certain other transactions to effect the Plan. Despite the sustained efforts of the Debtors and their financial advisors and an in-depth look at the Debtors' business by several interested parties, no party has made an offer for additional equity infusion, new financing or a purchase of the Debtors' assets that would enable reorganization. Because no offers were received, in order to continue the operations and maintenance services on the Debtors' and the Funds' existing arrays, LEAM was created by certain of the Debtors' principals to continue the operations and maintenance business pursuant to the terms of the LEAM APA. Without the sale to LEAM, the Debtors' outstanding cash would be used to fund completion and interconnection final tasks, leaving little to no recovery for creditors. The Secured Claim held by M&T Bank is approximately $7 million. Based on the proofs of claims filed, the Debtors' schedules and projected objections to be filed by the Debtors, there is approximately $5.0 million in allowed general unsecured claims, after deducting duplicate claims, claims not supported by the Debtors' books and records, claims that have already been reduced by agreement of the parties or order of the Bankruptcy Court, Claims that are subordinated and Claims that are subject to other objections. General unsecured creditors, owed $5 million, will receive an initial distribution of $380,000, for a 7.6% recovery. The LEAM APA provides for LEAM to pay a purchase price of $459,000 (plus the assumption of certain liabilities) in consideration for the assets acquired from the Debtors. Under the LEAM APA, LEAM proposes, for (a) the cash sum of $459,000 to be paid as follows: (i) $380,000 upon confirmation of the Plan, and (ii) $79,000 on the earlier of the receipt of the BETNR Refund or June 30, 2017 and (b) the assumption of certain liabilities, to purchase the following assets of the Debtors. The projected remaining assets of the Debtors' Estates to fund the Initial Distribution on the Effective Date, with the remainder vested in the Liquidating Trust on the Effective Date, are comprised of: 1. Cash in the amount of $56,000 to fund the Liquidating Trust Reserve and receivables held by the debtors in the amount of $50,000; 2. Sale proceeds in the amount of $300,000 from LEAM in accordance with the LEAM APA; 3. An advance of $80,000 from the BETNR Refund on the Effective Date; 4. The Liquidating Trust Assets, including, but not limited to, insurance and audit refunds of approximately $30,000, the Causes of Action and the Kyocera Litigation. The $380,000 will be paid to the holders of general unsecured claims on the Effective Date, with an additional $79,000 anticipated to be available to the Debtors' estates in 2017 based upon the guaranteed BETNR Refund and insurance refunds, as stated above. These later available funds will be reduced by certain of the Debtors' administrative expenses not assumed by LEAM including, without limitation, payment of (i) Professional Fee Claims for the Debtors and the Creditors' Committee, (ii) U.S. Trustee's Fees, (iii) Priority Tax Claims and (iv) other administrative expenses incurred by the Debtor and payable in the ordinary course of business. LEAM will also assume the final obligations of the Debtors in completion of the Fund III EPC Agreement, as set forth in the cash flow attached to the LEAM APA. A copy of the First Amended Disclosure Statement is available for free at: http://bankrupt.com/misc/nynb15-11121_436_1DS_NY_Light.pdf About New York Light Energy Founded in 2009 and based in Latham, New York, New York Light Energy, LLC, designs and installs medium-scale solar arrays in New York State and Massachusetts. The Company has installed solar arrays on more than 180 industrial, commercial, municipal, and residential sites, with a total of over 15 megawatts of capacity to date. NYLE and its affiliates commenced Chapter 11 bankruptcy cases (Bankr. N.D.N.Y. Lead Case No. 15-11121) in Albany, New York, on May 27, 2015. Judge Robert E. Littlefield Jr. is assigned to the cases. The affiliate debtors are Light Energy Partners Group, LP, Light Energy Administrative Services, LLC, Light Energy Installers, LLC, U.S. Light Energy, LLC, and Light Energy Management II, LLC. The Debtors tapped Bond, Schoeneck & King, PLLC, as counsel. The Debtors hired Blackbird Asset Services LLC as liquidation agent in connection with the sale of their excess inventory. The U.S. Trustee for Region 2 formed an Official Committee of Unsecured Creditors, which retained Hodgson Russ LLP as its attorneys and Emerald Capital Advisors Corp. as financial advisor. NORTHWEST MANAGEMENT: Files Plan to Exit Chapter 11 Protection -------------------------------------------------------------- Northwest Management, LLC, on Sept. 15 filed with the U.S. Bankruptcy Court for the District of Minnesota its proposed plan to exit Chapter 11 protection. The plan proposes to pay in full the unsecured claim of U.S. Bank in the amount of $2,039. The bank will receive the payment from Jerry Ritten, the owner of the company, on the effective date of the plan. Mr. Ritten will also pay in full the claim of Winnetka Green Master Association in the amount of $597 if it is allowed by the court. The Debtor disputes the claim in part and intends to file an objection if it cannot be resolved. But once the claim is allowed, the townhouse association will receive full payment from Mr. Ritten on the effective date of the plan. The restructuring plan will be funded from income earned by Northwest Management from the operation of its rental properties. The company also intends to sell its properties in order to fund payments under the plan, according to the disclosure statement explaining the plan. A copy of the disclosure statement is available for free at https://is.gd/2W0EDB In a separate filing, Northwest Management asked the court to approve the disclosure statement and fix a date for hearing on confirmation of the proposed plan. About Northwest Management Northwest Management, LLC filed a chapter 11 petition (Bankr. D. Minn. Case No. 15-44366) on Dec. 23, 2015. The petition was signed by Jerry Ritten, president. The Debtor is represented by Stephen B. Nosek, Esq., at Steven Nosek, P.A. The case is assigned to Judge Katherine A. Constantine. The Debtor estimated assets and liabilities at $1 million to $10 million at the time of the filing. ORANGE PEEL: U.S. Trustee Unable to Appoint Committee ----------------------------------------------------- The Office of the U.S. Trustee on Sept. 23 disclosed in a court filing that no official committee of unsecured creditors has been appointed in the Chapter 11 case of Orange Peel Enterprises, Inc. Orange Peel Enterprises, Inc. dba GREENS+, based in Vero Beach, Fla., filed a Chapter 11 bankruptcy petition (Bankr. S.D. Fla. Case No. 16-21023) on August 9, 2016. The Hon. Erik P. Kimball presides over the case. Bradley S. Shraiberg, Esq., at Shraiberg Ferrara Landau & Page PA, as bankruptcy counsel. In its petition, the Debtor estimated $1 million to $10 million in assets and $100 million to $500 million in liabilities. The petition was signed by Jude A. Deauville, CEO. PARAGON OFFSHORE: Paul, Young Represent Ad Hoc Group of Noteholders ------------------------------------------------------------------- Certain unaffiliated holders of (i) the 6.75% Senior Notes due 2022 and (ii) the 7.25% Senior Notes due 2024, issued by Paragon Offshore plc under that certain indenture dated as of July 18, 2014, by and among Paragon Offshore plc, the subsidiary guarantors party thereto, Deutsche Bank Trust Company Americas, as trustee, and Deutsche Bank Luxembourg S.A., as paying agent and transfer agent, submitted with the Bankruptcy Court a second supplemental verified statement. In September 2015, certain members of the Ad Hoc Group of Noteholders retained Paul, Weiss, Rifkind, Wharton & Garrison LLP, to represent them in connection with potential restructuring discussions involving the above-captioned debtors and debtors-in-possession. From time to time thereafter, certain additional holders of Senior Notes Claims have joined the Ad Hoc Group of Noteholders. In February 2016, the Ad Hoc Group of Noteholder retained Young Conaway Stargatt & Taylor, LLP, as its Delaware counsel. On March 29, 2016, the Counsel filed the Verified Statement of the Ad Hoc Group of Noteholders pursuant to Bankruptcy Rule 2019. On June 13, 2016, the Counsel filed the Supplemental Verified Statement of the Ad Hoc Group of Noteholders Pursuant to Bankruptcy Rule 2019. Since the Counsel filed the First Supplemental Statement, the composition and the disclosable economic interests in the Debtors held, advised, or managed by certain members of the Ad Hoc Group of Noteholders have changed. In accordance with Bankruptcy Rule 2019, the Counsel submitted the Second Supplemental Statement to update and supplement the previous statements. As of the date of this Second Supplemental Statement, the Counsel represents only the Ad Hoc Group of Noteholders and does not represent or purport to represent any other entities with respect to the Debtors' Chapter 11 cases. In addition, each member of the Ad Hoc Group of Noteholders does not purport to act, represent or speak on behalf of any other entities in connection with the Debtors' Chapter 11 cases. The list of the names, addresses, nature, and amount of each disclosable economic interest of each present member of the Ad Hoc Group of Noteholders as of the date of this Second Supplemental Statement includes: a. AllianceBernstein L.P. 1345 Avenue of the Americas New York, NY 10105 6.75% Senior Notes Claims: $38,842,000 7.25% Senior Notes Claims: $84,903,000 b. Loomis, Sayles & Company, L.P. One Financial Center Boston, MA 02111 6.75% Senior Notes Claims: $93,408,000 7.25% Senior Notes Claims: $151,011,000 c. P. Schoenfeld Asset Management LP 1350 Avenue of the Americas, 21st Floor New York, NY 10019 6.75% Senior Notes Claims: $58,028,000 7.25% Senior Notes Claims: $32,726,000 The Counsel to the Ad Hoc Group of Noteholders can be reached at: Pauline K. Morgan, Esq. Maris J. Kandestin, Esq. Elizabeth S. Justison, Esq. YOUNG CONAWAY STARGATT & TAYLOR LLP 1000 North King Street Wilmington, Delaware 19801 Tel: (302) 571-6600 Fax: (302) 571-1253 E-mail: pmorgan@ycst.com ejustison@ycst.com -- and -- Andrew N. Rosenberg, Esq. Elizabeth R. McColm, Esq. Oksana Lashko, Esq. Jeanne L. John, Esq. PAUL, WEISS, RIFKIND, WHARTON & GARRISON LLP 1285 Avenue of the Americas New York, New York 10019 Tel: (212) 373-3000 Fax: (212) 757-3990 E-mail: arosenberg@paulweiss.com emccolm@paulweiss.com olashko@paulweiss.com About Paragon Offshore Paragon Offshore plc -- http://www.paragonoffshore.com/-- is a global provider of offshore drilling rigs. Paragon's operated fleet includes 34 jackups, including two high specification heavy duty/harsh environment jackups, and six floaters (four drillships and two semisubmersibles). Paragon's primary business is contracting its rigs, related equipment and work crews to conduct oil and gas drilling and workover operations for its exploration and production customers on a dayrate basis around the world. Paragon's principal executive offices are located in Houston, Texas. Paragon is a public limited company registered in England and Wales and its ordinary shares have been trading on the over-the-counter markets under the trading symbol "PGNPF" since December 18, 2015. Paragon Offshore Plc, et al., filed Chapter 11 bankruptcy petitions (Bankr. D. Del. Case Nos. 16-10385 to 16-10410) on Feb. 14, 2016, after reaching a deal with lenders on a reorganization plan that would eliminate $1.1 billion in debt. The petitions were signed by Randall D. Stilley as authorized representative. Judge Christopher S. Sontchi is assigned to the cases. The Debtors reported total assets of $2.47 billion and total debt of $2.96 billion as of Sept. 30, 2015. The Debtors engaged Weil, Gotshal & Manges LLP as general counsel, Richards, Layton & Finger, P.A. as local counsel, Lazard Freres & Co. LLC as financial advisor, Alixpartners, LLP as restructuring advisor, and Kurtzman Carson Consultants as claims and noticing agent. PARC ENGLAND: Secured Creditor Tries To Block Plan Outline OK ------------------------------------------------------------- Red River Bank filed with the U.S. Bankruptcy Court for the Western District of Louisiana an objection to the approval of Parc England Holding, LLC's disclosure statement dated July 5, 2016, describing the Debtor's plan of reorganization. The claim of the Bank is secured by real property which is not property of the bankruptcy estate with any deficiency claim being an undersecured claim against the Debtor. Objections to the Disclosure Statement using the same arguments as those of the Bank were also filed by: a. Cleco Corporation, the electrical utility service provider for the business operations of the Debtor; b. City of Alexandria, which provides the gas, water and sewer services for the business operations of the Debtor; c. The England Economic and Industrial Development District; and d. Bank of Montgomery, which says that it adopts the arguments made in the England Authority Objection. According to the Bank, the Monthly Operating Reports filed by the Debtor and utilized as exhibits to the Disclosure Statement are incomplete. On Sept. 1, 2016, the Court ordered the Debtor to provide supplementary documentation to support all expenditures identified in the Monthly Operating Reports. The Bank says that the Monthly Operating Reports contain no schedules of income or disbursement through which any party could track the income and expenses of the Debtor to determine whether or not the plan is feasible. The Court held on Aug. 31, 2016, hearings in this matter and ordered that a management company be appointed to manage the hotel properties. By court order dated Sept. 7, 2016, the Court appointed a management company and removed the Debtor from management of the hotel and restaurant. In light of the appointment of the management company, Article VI of the Disclosure Statement must be modified, the Bank states. The most recent Monthly Operating Reports indicate the Debtor has a negative cash flow and the Debtor has failed to timely make lease payments which the Bank of Montgomery has been compelled to make in order to maintain its leasehold mortgage. The Bank says that the monthly income and cash flow projections filed to support the Disclosure Statement conflict greatly with the actual Monthly Operating Reports filed. The most recent Monthly Operating Reports indicate the Debtor has a negative cash flow and the Debtor has failed to timely make lease payments which the Bank of Montgomery has been compelled to make in order to maintain its leasehold mortgage. Cleco, the City of Alexandria, and the England Economic and Industrial Development District, are represented by: Stephen D. Wheelis, Esq. Richard A. Rozanski, Esq. WHEELIS & ROZANSKI P.O. Box 13199 Alexandria, Louisiana 71315-3199 Tel: 318/445-5600 E-mail: steve@wheelis-rozanski.com richard@wheelis-rozanski.com Website: http://www.wheelis-rozanski.com/ The Bank of Montgomery is represented by: Mark A. Begnaud, Esq. Mark L. Roberts, Esq. McCOY ROBERTS & BEGNAUD (A Law Corporation) P.O. Box 1369 Natchitoches, LA 71458-1369 Tel: (318) 352-6495 Headquartered in Alexandria, Louisiana, Parc England Holding, LLC, dba Parc England Hotel, dba Bistro on the Bayou, runs a hotel and restaurant. The Debtor filed for Chapter 11 bankruptcy protection (Bankr. W.D. La. Case No. 16-80255) on March 8, 2016, disclosing $0 assets and total liabilities of $5.87 million. The petition was signed by Fred Rosenfeld, managing member. Judge John W. Kolwe presides over the case. Thomas R. Willson, Esq., at Thomas R. Willson serves as the Debtor's bankruptcy counsel. PATRICK COX: Appeal in Divorce Case Stayed Amid Bankruptcy ---------------------------------------------------------- The Court of Appeals of Texas, First District, Houston, in an order issued September 20, 2016, abated the appeal captioned PATRICK COX, Appellant, v. CARA COX, Appellee, No. 01-15-00063-CV (Tex. App.), and withdrew the opinion and vacated the judgment of July 28, 2016. On July 28, 2016, the Appeals Court issued an opinion and judgment in this case. On September 6, 2016, appellant Patrick Cox informed the court that he had filed a bankruptcy petition under Chapter 11 of the United States Bankruptcy Code on May 3, 2016, more than two months before the issuance of the court's opinion. Section 362(a) of the United States Bankruptcy Code provides that once a petition in bankruptcy is filed, it operates as an automatic stay against the commencement or continuation of any judicial, administrative, or other proceeding against the debtor. The court held that, ordinarily, actions taken in violation of the automatic stay, including judgments or other court actions, are void. This debtor was the respondent in a divorce proceeding, and this appeal is automatically stayed because it is a continuation of judicial action "against the debtor" which sought to "recover a claim" for division of property, the court held. The parties are ordered to notify this court when the bankruptcy stay is lifted by termination of the bankruptcy or otherwise. The court will not rule on any pending motions until the bankruptcy stay is lifted. A full-text copy of the Order is available at https://is.gd/9Mgogu from Leagle.com. Patrick Cox, for Appellant, Pro Se. Alan Brandt Daughtry, Bobby King Newman, for Cara Cox, Appellee. Patrick Cox filed a Chapter 11 petition (Bankr. S.D. Tex. Case No. 16-32363) on May 3, 2016, and is represented by Reese W Baker, Esq., at Baker & Associates. PAUL ANTHONY LOBIANCO: Unsecureds Recoup 100% Under Plan -------------------------------------------------------- Paul Anthony Lobianco and Sandra Daugherty Lobianco filed with the U.S. Bankruptcy Courtfor the Middle District of Tennessee a disclosure statemnt dated Sept. 2, 2016, describing the Debtors' Chapter 11 plan of reorganization. Under the Plan, general unsecured creditors are classified in Class 11 and will receive a distribution of 100% of their allowed claims. A distribution of $650 per month will be paid pro rata on the 1st day of the month following the effective date of the Plan. Payments and distributions under the Plan will be funded by the Debtors' employment as managers of Sango Pool and Spa LLC. The Disclosure Statement is available at: http://bankrupt.com/misc/tnmb15-08423-124.pdf The Plan was filed by the Debtors' counsel: David F. Cannon, Esq. Law Office of David F. Cannon 346 21st Avenue North Nashville TN 37203 Tel: (615) 321-8787 E-mail: dcannon@davidcannon.net Paul Anthony Lobianco and Sandra Daugherty Lobianco each owns 50% of Sango Pool and Spa LLC. The Debtors filed for Chapter 11 bankruptcy protection (Bankr. M.D. Tenn. Case No. 15-08423) on Nov. 20, 2015. PAULA SUE WENSTROM: Unsecureds To Get Paid in Full Under Plan ------------------------------------------------------------- Paula Sue Wenstrom filed with the U.S. Bankruptcy Court for the Northern District of Texas a second amended disclosure statement in connection with the Debtor's second amended plan of reorganization. The Debtor is paying the holders of Class 6 General Unsecured Claims, in cash, in full, in two equal payments. The first payment will occur on the Effective Date and the second payment will occur 60 days after the Effective Date. Interest on the allowed General Unsecured Claims will be paid at the federal judgment rate from and after the Effective Date. The Debtor's assets have remained relatively constant since the Petition Date. However, the Debtor's business, Cultural Surroundings (aka Putsi, Inc.), has enjoyed a significant upturn in revenue and profits since the Petition Date which will enable the Debtor to fund her Plan and repay creditors as proposed in the Plan. The Disclosure Statement is available at: http://bankrupt.com/misc/txnb14-35340-107.pdf The Debtor is represented by: Howard Marc Spector, Esq. Spector & Johnson, PLLC 12770 Coit Road, Suite 1100 Dallas, TX 75251 Tel: (214) 365-5377 Fax: (214) 237-3380 E-mail: hspector@spectorjohnson.com About Paula Sue Wenstrom Paula Sue Wenstrom owns and operates Cultural Surroundings, also known as Putsi Inc., a supplier of library furnishings. Cultural Surroundings was established in 1990. The Debtor sought protection under Chapter 11 of the Bankruptcy Code (Bankr. N. D. Texas Case No. 14-35340) on Nov. 3, 2014. PC ACQUISITION: Case Summary & 17 Largest Unsecured Creditors ------------------------------------------------------------- Debtor: PC Acquisition, LLC 23540 Reynolds Court Clinton Township, MI 48036 Case No.: 16-53191 Chapter 11 Petition Date: September 25, 2016 Court: United States Bankruptcy Court Eastern District of Michigan (Detroit) Judge: Hon. Phillip J Shefferly Debtor's Counsel: Ernest Hassan, Esq. STEVENSON & BULLOCK, P.L.C. 26100 American Drive, Suite 500 Southfield, MI 48034 Tel: (248) 354-7906 Fax: (248) 354-7907 E-mail: ehassan@sbplclaw.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $10 million to $50 million The petition was signed by Mark D. Krueger, member. A copy of the Debtor's list of 17 largest unsecured creditors is available for free at http://bankrupt.com/misc/mieb16-53191.pdf PIRTS INC: U.S. Trustee Unable to Appoint Committee --------------------------------------------------- The Office of the U.S. Trustee on Sept. 23 disclosed in a court filing that no official committee of unsecured creditors has been appointed in the Chapter 11 case of PIRTS, Inc. PIRTS, Inc. filed a chapter 11 petition (Bankr. S.D. Fla. Case No. 16-20919) on Aug. 5, 2016. The petition was signed by Caryle Anthony DeCruise, director. The Debtor is represented by Richard R. Robles, Esq., at the Law Offices of Richard R. Robles, P.A. The case is assigned to Judge Laurel M. Isicoff. The Debtor estimated assets at $100,000 to $500,000 and liabilities at $10 million to $50 million at the time of the filing. PUPI'S MANAGEMENT: U.S. Trustee Unable to Appoint Committee ----------------------------------------------------------- The Office of the U.S. Trustee on Sept. 23 disclosed in a court filing that no official committee of unsecured creditors has been appointed in the Chapter 11 case of Pupi's Management, LLC. Based in Bull Shoals, Arkansas, Pupi's Management, LLC -- dba BelArco Resort and dba Bel Arco Resorts -- filed a Chapter 11 petition (Bankr. W.D. Ark. Case No. 16-71739) on July 27, 2016. The Hon. Ben T Barry presides over the case. Stanley V Bond, Esq., at Bond Law Office, as bankruptcy counsel. In its petition, the Debtor estimated $1 million to $10 million in assets and $100,000 to $500,000 in liabilities. The petition was signed by Doreen Koehl, managing member. PUSHMATAHA COUNTY: Chapter 9 Case Summary & Top Unsec. Creditors ---------------------------------------------------------------- Debtor: Pushmataha County - City of Antlers Hospital Authority 510 East Main Street Antlers, OK 74523 Bankruptcy Case No.: 16-81001 Type of Business: Health Care Chapter 9 Petition Date: September 23, 2016 Court: United States Bankruptcy Court Eastern District of Oklahoma (Okmulgee) Debtor's Counsel: Jeffrey E. Tate, Esq. CHRISTENSEN LAW GROUP, P.L.L.C. 3401 N.W. 63rd Street, Suite 600 Oklahoma City, OK 73116 Tel: (405) 232-2020 Fax: (405) 236-1012 E-mail: Jeffrey@christensenlawgroup.com Estimated Assets: $0 to $50,000 Estimated Debts: $1 million to $10 million The petition was signed by David Smith, chairman, Pushmataha County-City of Antlers Hosp. Authority. A copy of the Debtor's list of 20 largest unsecured creditors is available for free at http://bankrupt.com/misc/okeb16-81001.pdf QUANTUM MATERIALS: Incurs $6.10 Million Net Loss in Fiscal 2016 --------------------------------------------------------------- Quantum Materials Corp. filed with the Securities and Exchange Commission its annual report on Form 10-K disclosing a net loss of $6.10 million on $240,835 of revenues for the year ended June 30, 2016, compared to a net loss of $2 million on $0 of revenues for the year ended June 30, 2015. As of June 30, 2016, Quantum Materials had $1.27 million in total assets, $2.31 million in total liabilities and a total stockholders' deficit of $1.04 million. Weaver and Tidwell, L.L.P., in Houston, Texas, issued a "going concern" qualification on the consolidated financial statements for the year ended June 30, 2016, citing that the Company has suffered recurring losses from operations and has an accumulated deficit that raises substantial doubt about its ability to continue as a going concern. A full-text copy of the Form 10-K is available for free at: https://is.gd/K6Hqqg About Quantum Materials Quantum Materials Corp. and its wholly owned subsidiary, Solterra Renewable Technologies, Inc. (collectively referred to as the company) are headquartered in San Marcos, Texas. The company specializes in the design, development, production and supply of quantum dots, including tetrapod quantum dots, a high performance variant of quantum dots, and highly uniform nanoparticles, using its patented automated continuous flow production process. QUANTUM MATERIALS: May Issue 15M Shares Under Compensation Plan --------------------------------------------------------------- Quantum Materials Corp. filed with the Securities and Exchange Commission a Form S-8 registration statement to register 15,000,000 shares of common stock, par value $.001 per share, issuable under the Company's 2015 Employee Benefit and Consulting Services Compensation Plan. A full-text copy of the regulatory filing is available for free at https://is.gd/5JJh3P About Quantum Materials Quantum Materials Corp. and its wholly owned subsidiary, Solterra Renewable Technologies, Inc. (collectively referred to as the company) are headquartered in San Marcos, Texas. The company specializes in the design, development, production and supply of quantum dots, including tetrapod quantum dots, a high performance variant of quantum dots, and highly uniform nanoparticles, using its patented automated continuous flow production process. Quantum Materials reported a net loss of $6.10 million on $240,835 of revenues for the year ended June 30, 2016, compared to a net loss of $2 million on $0 of revenues for the year ended June 30, 2015. As of June 30, 2016, Quantum Materials had $1.27 million in total assets, $2.31 million in total liabilities and a total stockholders' deficit of $1.04 million. Weaver and Tidwell, L.L.P., in Houston, Texas, issued a "going concern" qualification on the consolidated financial statements for the year ended June 30, 2016, citing that the Company has suffered recurring losses from operations and has an accumulated deficit that raises substantial doubt about its ability to continue as a going concern. QUANTUM MATERIALS: Stephen Squires Held 11.8% Stake as of Aug. 14 ----------------------------------------------------------------- In an amended Schedule 13D filed with the Securities and Exchange Commission, Stephen Squires disclosed that as of Aug. 14, 2016, he beneficially owns 40,818,205 shares of common stock of Quantum Materials Corp. representing 11.8097% of the shares outstanding. The Reporting Person was previously the chief executive officer and a member of the Board of Directors of the Company until June 13, 2016. Mr. Squires acquired his stock from the Company, which he founded, except that in 2015 he paid for 1,070,675 of his common stock shares through the execution of warrants that had been issued to him with his personal funds. A full-text copy of the regulatory filing is available at: https://is.gd/mtfFU5 About Quantum Materials Quantum Materials Corp. and its wholly owned subsidiary, Solterra Renewable Technologies, Inc., are headquartered in San Marcos, Texas. The company specializes in the design, development, production and supply of quantum dots, including tetrapod quantum dots, a high performance variant of quantum dots, and highly uniform nanoparticles, using its patented automated continuous flow production process. Quantum Materials reported a net loss of $6.10 million on $240,835 of revenues for the year ended June 30, 2016, compared to a net loss of $2 million on $0 of revenues for the year ended June 30, 2015. As of June 30, 2016, Quantum Materials had $1.27 million in total assets, $2.31 million in total liabilities and a total stockholders' deficit of $1.04 million. Weaver and Tidwell, L.L.P., in Houston, Texas, issued a "going concern" qualification on the consolidated financial statements for the year ended June 30, 2016, citing that the Company has suffered recurring losses from operations and has an accumulated deficit that raises substantial doubt about its ability to continue as a going concern. RANGE RESOURCES: S&P Affirms 'BB+' CCR & Revises Outlook to Stable ------------------------------------------------------------------ S&P Global Ratings affirmed its 'BB+' corporate credit rating on Ft. Worth, Texas-based Range Resources Corp. and revised the outlook to stable from negative. The senior unsecured and subordinated issue-level ratings remain 'BB+'. The recovery rating remains '3', indicating meaningful (50%-70%; higher end of the range) recovery in the event of a default. Range Resources Corp. completed its acquisition of Memorial Resource Development Corp. (MRD) for about $3.1 billion in stock and the assumption of $1.1 billion of debt. The use of equity to fund a large portion of the acquisition will reduce Range's financial leverage. The transaction also modestly increases Range's scale and geographic diversity, though reinforces the company's concentration in natural gas. S&P expects Range's exposure to natural gas prices to continue to be a comparative disadvantage relative to oil under S&P's price assumptions. S&P views Range's expertise in developing gas properties in the Marcellus formation to be transferable to MRD's Terryville acreage in northern Louisiana. MRD's production also benefits from proximity to Gulf Coast markets and is not subject to infrastructure constraints that have resulted in wide negative price differentials or high transportation costs for Marcellus output. "The stable outlook reflects our expectation that Range's credit measures will be slightly weak for the rating in 2017 and improve in 2018, with projected FFO to debt expected to be near 20% and debt to EBITDA declining to under 4x as commodity prices improve," said S&P Global Ratings credit analyst Ben Tsocanos. S&P could lower the rating if company's credit measures weaken such that FFO to debt remains near 12% and debt to EBITDA remains near 5x on a sustained basis. This could occur if natural gas prices remained depressed, if Range significantly outspends cash flow, or operating costs escalated substantially. S&P considers an upgrade over the next year as unlikely under its commodity price assumptions. S&P could consider a positive rating action if Range's leverage measures improve such that FFO to total debt exceeded 45% and debt to EBITDA declined closer to 2x on a sustained basis. This would most likely occur if the company began generating positive free operating cash flow due to improved profitability or greater capital efficiency or realized higher natural gas prices than S&P currently assumes. REDIGI INC: U.S. Trustee Unable to Appoint Committee ---------------------------------------------------- The Office of the U.S. Trustee on Sept. 23 disclosed in a court filing that no official committee of unsecured creditors has been appointed in the Chapter 11 case of ReDigi Inc. Headquartered in Boca Raton, Florida, ReDigi Inc. Filed for Chapter 11 bankruptcy protection (Bankr. S.D. Fla. Case No. 16-20809) on Aug. 3, 2016, listing $250 in total assets and $6.59 million in total liabilities. The petition was signed by John Mark Ossenmacher, CEO. Judge Paul G. Hyman, Jr., presides over the case. Craig I Kelley, Esq., at Kelley & Fulton, PL, serves as the Debtor's bankruptcy counsel. REGAL ENTERTAINMENT: Fitch Affirms 'B+' IDR, Outlook Stable ----------------------------------------------------------- Fitch Ratings has affirmed the Issuer Default Ratings of Regal Entertainment Group and Regal Cinemas Corporation at 'B+'. All other issue ratings have been affirmed. The Rating Outlook remains Stable. KEY RATING DRIVERS Regal's ratings reflect Fitch's belief that movie exhibition will continue to be a key promotion window for the movie studios' biggest/most profitable releases. Following a year of record box office sales, 2016 is off to a solid start with growth of 0.4% for the first half of the year, according to Box Office Mojo. During 2015, industrywide attendance grew 4.1% and average ticket prices grew 3.1%, which is likely attributable to higher premium ticket sales. Similar to past years, the 2016 film slate features many high-profile tent poles and anticipated sequels that have a strong likelihood of box office success, some of which have already proven to be domestic and international successes. "Girl on the Train," "Fantastic Beasts and Where to Find Them" and "Rogue One: A Star Wars Story" headline a strong film slate for the remainder of 2016. Fitch believes the film slate will support industry-wide box office revenue levels with flat attendance and a slightly increased average ticket price. Fitch believes that the 2017 film slate looks solid with films such as "Pirates of the Caribbean: Dead Men Tell No Tales," "Fast and Furious 8," "Thor: Ragnarok" and "Star Wars: Episode VIII." Fitch believes that attendance may grow in the low single digits. Fitch expects 2016 average ticket prices to be up in the low single digits, driven mostly by a low single-digit increase in base ticket prices, with the average ticket price contribution from premium formats relatively flat to slightly up. After annual growth of roughly 4.5%-5.0% in 2008-2010, ticket price growth has been modest at 2.1%, 0.5% and 3.2% in 2013, 2014 and 2015, respectively. Fitch attributes growth in 2013 and 2015 to a higher number of films released in Premium Large Formats (PLF). Fitch believes the investments made by Regal and its peers to improve the patron's experience are prudent. Regal plans to outfit 30% of its total screens with reclining seats by year-end 2017 and continue to expand enhanced food and beverage menus. While high-margin concessions may be pressured, Fitch believes that, in the long term, the exhibitors will benefit from delivering an improved value proposition to its patrons, and premium food services and/or offerings will grow absolute levels of revenue and EBITDA. Regal's solid liquidity position is supported by interest coverage that generally remains at or above 3.0x, annual pre-dividend free cash flow (FCF) between $150 million and $300 million, and a favourable near-term maturity schedule. Fitch's base case projects the company to roughly generate around $200 million in pre-dividend FCF in 2016 and 2017. Fitch expects cash deployment to be used towards investments into premium seating and concessions, acquisitions and shareholder friendly actions. The ratings factor the intermediate- to long-term risks associated with increased competition from at-home entertainment media, limited control over revenue trends, shrinking film distribution windows and increasing indirect competition from other distribution channels (VOD, OTT, and streaming services). For the long term, Fitch continues to expect that the movie exhibitor industry will be challenged in growing attendance, and any potential attendance declines will offset some of the growth in average ticket prices and growth in concessions. In addition, Regal and its peers rely on the quality, quantity, and timing of movie product, all factors out of management's control. KEY ASSUMPTIONS Fitch's key assumptions within the rating case for Regal include: -- Low-single digit revenue growth in 2016 reflecting strong film slate against tough 2015 comps; -- Flat attendance growth; -- Low-single digit average ticket price growth; -- Mid-single digit increase in Concession revenue per patron as a result of investments in F&B; -- EBITDA margin is forecasted to stay relatively steady around 19% (including NCM distribution); -- Capital expenditures are expected to be $130 million- $145 million net of landlord contributions. RATING SENSITIVITIES Positive Trigger: Fitch heavily weighs the prospective challenges facing Regal and its industry peers in arriving at the long-term credit ratings. Significant improvements in the operating environment (sustainable increases in attendance from continued success of operating initiatives) driving FCF/adjusted debt above 2% and adjusted leverage below 4.5x on a sustainable basis could have a positive effect on the rating. In strong box office years, metrics may be stronger in order to provide a cushion for weaker box office years. Negative Trigger: Fitch anticipates that the company, as well as other movie exhibitors, will continue to consolidate. While not anticipated, a debt-financed material acquisition or return of capital to shareholders that would raise the adjusted gross leverage beyond 6.0x in the absence of a credible delivering plan could have a negative effect on the rating. In addition, meaningful, sustained declines in attendance and/or per-guest concession spending that drove adjusted leverage beyond 6.0x would pressure the rating as well. LIQUIDITY AND DEBT STRUCTURE Regal's solid liquidity position is supported by $288 million of cash on hand as of June 30, 2016, and $82.3 million availability under its $85 million revolver due 2020. FCF before dividends, as of June 30, 2016, latest 12 month (LTM) was $180 million. Fitch expects pre-dividend FCF around $200 million annually over the next two years. Fitch estimates approximately $140 million in annual dividends. Regal has a manageable maturity profile with Regal Cinemas' term loans due in 2022 as its next material maturity: -- Regal Cinemas' $958.5 million secured term loans (due 2022; amortizes approximately $9.6 million per annum); -- Regal's $775 million unsecured notes (due 2022); -- Regal's $250 million unsecured notes (due 2023); -- Regal's $250 million unsecured notes (due 2025). Fitch believes that Regal will have sufficient liquidity, including access to credit markets, to address its maturities. Fitch calculates unadjusted gross leverage of 3.9x (including NCM dividend), and interest coverage at 4.8x as of June 30, 2016. RECOVERY Regal's Recovery Ratings reflect Fitch's expectation that the enterprise value of the company and, thus, recovery rates for its creditors, will be maximized in a restructuring scenario (as a going concern) rather than a liquidation. Fitch estimates a distressed enterprise valuation of $1.9 billion, using a 5x multiple and including an estimate for Regal's 19.5% stake in National CineMedia, LLC of approximately $100 million. The 'RR1' Recovery Rating for the company's credit facilities reflects Fitch's belief that 91%-100% expected recovery is reasonable. While Fitch does not assign Recovery Ratings for the company's operating lease obligations, it is assumed the company rejects only 30% of its remaining $3 billion in operating lease commitments due to their significance to the operations in a going-concern scenario and is liable for 15% of those rejected values (at a net present value). The structurally subordinated senior unsecured notes at Regal are expected to have average recovery (31%-50%), reflecting an 'RR4'. Any future issuance of debt by Regal Cinemas would pressure the 'B+/RR4' Regal issue ratings. FULL LIST OF RATING ACTIONS Fitch has affirmed the ratings for Regal and Regal Cinemas as: Regal -- IDR at 'B+'; -- Senior unsecured notes at 'B+/RR4'. Regal Cinemas -- IDR at 'B+'; -- Senior secured credit facility at 'BB+/RR1'. The Rating Outlook is Stable. RICEBRAN TECHNOLOGIES: Files Aribitration Case vs. Former CEO ------------------------------------------------------------- As previously reported, John W. Short's employment as the chief executive officer of RiceBran Technologies was terminated on Aug. 27, 2016. The Company and Mr. Short have been unable to agree upon the severance payments owed to Mr. Short under his employment agreement with the Company. In order to resolve this dispute, on Sept. 22, 2016, the Company filed an Arbitration Demand for Declaratory Relief against Mr. Short. In the Demand, the Company seeks a determination and declaration resolving all disputes between the Company and Mr. Short, including those relating to the amounts owed to Mr. Short in connection with his employment termination. The Demand was filed with the American Arbitration Association in Phoenix, Arizona. About RiceBran Scottsdale, Ariz.-based RiceBran Technologies, a California corporation, is a human food ingredient and animal nutrition company focused on the procurement, bio-refining and marketing of numerous products derived from rice bran. RiceBran reported a net loss of $10.6 million on $39.9 million of revenues for the year ended Dec. 31, 2015, compared to a net loss of $26.6 million on $40.10 million of revenues for the year ended Dec. 31, 2014. As of June 30, 2016, RiceBran had $32.1 million in total assets, $31.6 million in total liabilities, $551,000 in temporary equity and a total deficit of $36,000. The Company's auditors Marcum LLP, in New York, NY, issued a "going concern" qualification on the consolidated financial statements for the year ended Dec. 31, 2015, citing that the Company has suffered recurring losses from operations resulting in an accumulated deficit of $251 million at December 31, 2015. This factor among other things, raises substantial doubt about its ability to continue as a going concern. ROBERT ALLEN MIXSON: Unsecureds To Recoup 10% Under Plan -------------------------------------------------------- Robert B. Mixson filed with the U.S. Bankruptcy Court for the Eastern District of Tennessee a third amended disclosure statement dated Sept. 2, 2016, to the Debtor's amended plan of reorganization dated Sept. 2, 2016. Under the Plan, holders of Class 5 Unsecured Claims will be paid $100 per month pro rata as cash flow permits starting on the Effective Date, until each creditor in the class is paid 10% of its allowed claim. As Class 1 is paid, that class' payments will be made to Class 5 until the dividend to the class is paid. This class is impaired. Based upon the Debtor's estimate of the present market value of his business real estate and non-exempt personal property, the liquidation of the Debtor's assets would result in a recovery substantially less than the amount that the Plan proposes to creditors. The Disclosure Statement is filed at: http://bankrupt.com/misc/tneb14-12133-186.pdf The Plan was filed by the Debtor's counsel: David J. Fulton, Esq. SCARBOROUGH & FULTON 701 Market Street, Suite 1000 Chattanooga, TN 37402 Tel: (423) 648-1880 Fax: (423) 648-1881 E-mail: DJF@sfglegal.com Robert Allen Mixson owns and operates an internet business selling used golf clubs on Airpark Drive, Chattanooga, Tennessee under the name Guitar Galleria dba Mike's Golf Shop. The Debtor filed for Chapter 11 bankruptcy protection (Bankr. E.D. Tenn. Case No. 14-12133). ROYAL ONE: $111,800 in Assets to Pay Claims in Full --------------------------------------------------- Royal One, Inc., has proposed a Chapter 11 plan that provides that holders of secured claims totaling $21,977, priority claims totaling $3,810, and administrative expenses totaling $5,325 will be paid in full. The Debtor's assets have total value of $111,800, so there is $80,689 available for distribution to unsecured creditors. The Debtor, however, believes that there will be no unsecured creditors with allowed claims. The Plan will be funded by continuing operations and the sale of unrelated assets by the principal of the Debtor. A copy of the Disclosure Statement is available for free at: http://bankrupt.com/misc/pawb16-20630_60_DS_Royal_One.pdf The Debtor's attorneys: Francis E. Corbett, Esq. 1420 Grant Building 310 Grant Street Pittsburgh, PA 15219-2230 Tel: (412) 456-1882 E-mail: fcorbett@fcorbettlaw.com About Royal One Royal One, Inc. sought protection under Chapter 11 of the Bankruptcy Code in Pittsburgh, Pennsylvania (Bankr. W.D. Pa. Case No. 16-20630) on Feb. 25, 2016. The case is assigned to Judge Gregory L. Taddonio. ROYCE MCBRIDE: Unsecured Creditors Slated for 5% or 15% Recovery ---------------------------------------------------------------- According to his Second Amended Disclosure Statement, Royce D. McBride is proposing a Chapter 11 plan that provides that Unsecured Claims up to the amount of $5,000, or claims reduced to $5,000 (Class 5) will be paid 15% of each creditor's allowed claim within 30 days of the Effective Date. Unsecured Claims exceeding $5,000 (Class 6) will be paid 5% of each creditor's allowed claim, pro rata, as funds are available after payment of Classes 1 through 5. Hon. Nicholas W. Whittenburg of the U.S. Bankruptcy Court for the Eastern District of Tennessee is scheduled to convene a hearing on Oct. 13, 2016, at 10:30 a.m. to consider confirmation of the Plan. A copy of the Second Amended Disclosure Statement is available for free at: http://bankrupt.com/misc/tneb15-bk-14081_72_2DS_R_McBride.pdf About Royce Mcbride Royce D. Mcbride, a self-employed dentist in Cleveland, Tennessee, sought protection under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Tenn. Case No. 15-14081), and is represented by David J. Fulton, Esq., at Scarborough & Fulton, in Chattanooga, Tennessee. S&S SCREW MACHINE: Case Summary & 19 Largest Unsecured Creditors ---------------------------------------------------------------- Debtor: S&S Screw Machine Company, LLC dba S&S - Precision 1500 McMinnville Highway Sparta, TN 38583 Case No.: 16-06829 Chapter 11 Petition Date: September 24, 2016 Court: United States Bankruptcy Court Middle District of Tennessee (Cookeville) Judge: Hon. Randal S Mashburn Debtor's Counsel: Phillip G Young, Jr., Esq. THOMPSON BURTON PLLC One Franklin Park 6100 Tower Circle, Suite 200 Franklin, TN 37067 Tel: 615-465-6008 Fax: 931-381-0058 Email: phillip@thompsonburton.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Lawrence J. Battle, authorized member of S&S Screw Machine Holding Company, LLC. A copy of the Debtor's list of 19 largest unsecured creditors is available for free at http://bankrupt.com/misc/tnmb16-06829.pdf S-METALS FL: Disclosure Statement Hearing on Nov. 7 --------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of Florida is set to hold a hearing on November 7, at 3:30 p.m., to consider approval of the disclosure statement explaining the Chapter 11 plan of S-Metals FL, LLC. The hearing will take place at Courtroom 8, 301 N Miami Avenue, Miami, Florida. Objections are due by October 31. About S-Metals FL S-Metals FL, LLC filed for Chapter 11 protection (Bankr. S.D. Fla. Case No. 16-17050) on May 17, 2016. The petition was signed by Shimon Segelman, manager. At the time of the filing, the Debtor estimated assets of less than $50,000 and debts of less than $1 million. Joel M. Aresty, Esq., at Joel M. Aresty P.A. serves as the Debtor's bankruptcy counsel. SAEXPLORATION HOLDINGS: May Issue 1M Shares Under Incentive Plan ---------------------------------------------------------------- SAExploration Holidngs, Inc., filed a Form S-8 registration statement with the Securities and Exchange Commission to register 1,038,258 shares of common stock of the Company issuable under the 2016 Long-Term Incentive Plan. A full-text copy of the regulatory filing is available for free at https://is.gd/Aa0OfV About SAExploration Holdings, Inc. SAExploration Holdings, Inc., and its subsidiaries are internationally-focused oilfield services company offering a full range of vertically-integrated seismic data acquisition and logistical support services in Alaska, Canada, South America, and Southeast Asia to its customers in the oil and natural gas industry. In addition to the acquisition of 2D, 3D, time-lapse 4D and multi-component seismic data on land, in transition zones between land and water, and offshore in depths reaching 3,000 meters, the Company offers a full-suite of logistical support and in-field data processing services. The Company operates crews around the world that are supported by over 29,500 owned land and marine channels of seismic data acquisition equipment and other leased equipment as needed to complete particular projects. SAExploration reported a net loss attributable to the Corporation of $9.87 million in 2015 following a net loss attributable to the Corporation of $41.8 million in 2014. As of June 30, 2016, SAExploration had $207 million in total assets, $221 million in total liabilities and a total stockholders' deficit of $13.9 million. * * * In June 2017, S&P Global Ratings lowered its corporate credit rating on SAExploration Holdings to 'CC' from 'CCC-'. The outlook remains negative. The downgrade follows SAExploration's announcement that it plans to launch an exchange offer to existing holders of its 10% senior secured notes for shares of common equity and a new issue of second-lien notes. In September 2016, Moody's Investors Service withdrew SAExploration's 'Caa2' Corporate Family Rating and other ratings. SANDRIDGE ENERGY: Ad Hoc Comm. Files Appeal on Plan Confirmation ---------------------------------------------------------------- BankruptcyData.com reported that SandRidge Energy's ad hoc committee of shareholders filed with the U.S. Bankruptcy Court a notice of appeal to describe the judgment, order, or decree appealed from: amended order confirming the amended Joint Chapter 11 Plan of Reorganization (docket No. 839), and to state the date on which the judgment, or decree was entered: September 20, 2016 (docket No. 901). About SandRidge Energy, Inc. SandRidge Energy, Inc. (OTC PINK: SDOC) -- http://www.sandridgeenergy.com/-- is an oil and natural gas exploration and production company headquartered in Oklahoma City, Oklahoma, with its principal focus on developing high-return, growth-oriented projects in the U.S. Mid-Continent and Niobrara Shale. SandRidge Energy, Inc. and 24 of its subsidiaries each filed a voluntary petition under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 16-32488) on May 16, 2016. The petitions were signed by Julian M. Bott as chief financial officer. The Debtors have hired Kirkland & Ellis LLP as general bankruptcy counsel, Zack A. Clement PLLC as local counsel, Houlihan Lokey Capital, Inc. as financial advisor, Alvarez & Marsal Holdings, LLC as restructuring advisor and Prime Clerk LLC as claims and noticing agent. The cases are assigned to Judge David R Jones. The Office of the U.S. Trustee has appointed five creditors of SandRidge Energy, Inc., to serve on the official committee of unsecured creditors. The Official Committee is represented by: Charles R. Gibbs, Esq. AKIN GUMP STRAUSS HAUER & FELD LLP 1700 Pacific Avenue, Suite 4100 Dallas, TX 75201 214) 969-2800 Facsimile: (214) 969-4343 - and - Daniel H. Golden, Esq. Abid Qureshi, Esq. Brad M. Kahn, Esq. AKIN GUMP STRAUSS HAUER & FELD LLP One Bryant Park New York, NY 10036 Telephone: (212) 872-1000 Facsimile: (212) 872-1002 An Ad Hoc Committee of Shareholders is represented by: Susan C. Mathews, Esq. Lori Ann Hood, Esq. BAKER, DONELSON, BEARMAN, CALDWELL & BERKOWITZ A Professional Corporation 1301 McKinney St., Suite 3700 Houston, TX 77010 Tel: (713) 650-9700 Fax: (713) 650-9701 - and - Sunil "Neil" Gupta, Esq. BAKER, DONELSON, BEARMAN, CALDWELL & BERKOWITZ A Professional Corporation 160 Northridge Dr. Daly City, CA 94015 Tel: (408) 603-4779 Counsel to the First Lien Credit Agreement Agent: Andrew V. Tenzer, Esq. Leslie A. Plaskon, Esq. Michael Comerford, Esq. PAUL HASTINGS LLP 200 Park Avenue New York, NY 10166 Counsel to the Ad Hoc Group of Consenting Unsecured Creditors: Joseph H. Smolinsky, Esq. Daniel N. Griffiths, Esq. WEIL GOTSHAL & MANGES LLP 767 Fifth Avenue New York, NY 10153 Counsel to the Ad Hoc Group of Consenting Second Lien Creditors: Damian S. Schaible, Esq. Eli V. Vonnegut, Esq. DAVIS POLK & WARDWELL, LLP 450 Lexington Avenue New York, NY 10017 SCARBOROUGH & HARGETT: Plan Confirmation Hearing Set for Oct. 18 ---------------------------------------------------------------- Bankruptcy Judge Catharine R. Aron in Durham, North Carolina, granted conditional approval to the Disclosure Statement explaining the Plan of Reorganization of Scarborough & Hargett Funeral Home Inc. Oct. 11, 2016, is fixed as the last day for filing written acceptances or rejections of the Plan. That date is also fixed as the last day for filing written objections to the Plan. A hearing on Confirmation of the Plan will be held on Oct. 18, 2016, at 10:00 a.m. Scarborough & Hargett Funeral Home Inc. sought protection under Chapter 11 of the Bankruptcy Code (Bankr. M.D.N.C. Case No. 16-80220) on March 11, 2016. The petition was signed by J. C. Scarborugh III, president. The Debtor is represented by Florence A. Bowens, Esq. The case is assigned to Judge Catharine R. Aron. The Debtor estimated assets of $50,000 to $100,000 and debts of $1 million to $10 million. The Office of the U.S. Trustee disclosed in a court filing that no official committee of unsecured creditors has been appointed in the Chapter 11 case of Scarborough & Hargett Funeral Home Inc. SEQUA CORP: S&P Lowers CCR to 'CCC' on Upcoming Debt Maturities --------------------------------------------------------------- S&P Global Ratings said that it has lowered its corporate credit rating on Sequa Corp. to 'CCC' from 'CCC+'. The outlook is negative. At the same time, S&P lowered its issue-level ratings on the company's senior secured credit facility to 'CCC-' from 'CCC+' and revised S&P's recovery rating on the facility to '5' from '4'. The '5' recovery rating indicates S&P's expectation for modest (10%-30%; higher end of the range) recovery in a payment default scenario. In addition, S&P lowered its issue-level rating on the company's unsecured debt to 'CC' from 'CCC-'. The '6' recovery rating remains unchanged, indicating S&P's expectation for negligible recovery (0%-10%) in a payment default scenario. "The downgrade reflects our belief that, despite some improvement in the company's still very weak credit metrics in the first half of 2016, Sequa's near-term financial commitments are unsustainable given its large upcoming maturities and continued negative free cash flow generation," said S&P Global credit analyst Tennille Lopez. The company's $1.3 billion term loan matures on June 19, 2017, and its $350 million of senior unsecured notes mature on Dec. 15, 2017. In addition, due to an amendment the company made to its credit facility in March 2016, the availability under its revolver will be reduced to $165 million on Sept. 30, 2016, and $145 million on Dec. 31, 2016, before the commitment is reduced to just the value of the company's outstanding letters of credit by May 5, 2017, constraining its liquidity. S&P believes the Sequa's very weak credit metrics could make refinancing its debt difficult, which could lead the company to pursue what S&P would consider a distressed exchange to address its upcoming maturities. "The negative outlook on Sequa reflects our belief that the company will likely face a near-term liquidity crisis or choose to undertake a distressed exchange offer or redemption in the next 12 months. Despite our expectation that the company's credit measures will improve modestly as its revenue increases and it begins to realize some of the benefits from management's cost-cutting initiatives, we still anticipate that its credit metrics will remain weak and are uncertain if the expected improvements will be sustainable. We also do not expect Sequa to generate positive free cash flow during the next 12 months," S&P said. S&P could lower its ratings on Sequa to 'CCC-' if a default, distressed exchange, or redemption appears to be inevitable in the next six months, absent unanticipated and significantly favorable changes in the issuer's circumstances. Alternatively, S&P could lower its ratings on Sequa to 'CC' if the company announces its intention to undertake an exchange offer or a similar restructuring that S&P classifies as distressed but has not yet completed the transaction. S&P could raise its ratings on Sequa if the company is able to refinance its debt and push out its debt maturities, or if it makes an exchange offer to its debtholders that S&P does not consider a distressed exchange. SEQUENOM INC: Suspending Filing of Reports with SEC --------------------------------------------------- Sequenom, Inc. filed a Form 15 with the Securities and Exchange Commission notifying the termination of registration of its common stock, $0.001 par value per share, under Section 12(g) of the Securities Exchange Act of 1934. As a result of the Form 15 filing, the Company is not anymore obligated to file periodic reports with the SEC. About Sequenom Sequenom, Inc. (NASDAQ: SQNM) -- http://www.sequenom.com/-- is a life sciences company committed to improving healthcare through revolutionary genetic analysis solutions. Sequenom develops innovative technology, products and diagnostic tests that target and serve discovery and clinical research, and molecular diagnostics markets. The company was founded in 1994 and is headquartered in San Diego, California. Sequenom reported a net loss of $16.3 million on $128 million of total revenues for the year ended Dec. 31, 2015, compared to net income of $1.01 million on $152 million of total revenues for the year ended Dec. 31, 2014. As of June 30, 2016, Sequenom had $97.3 million in total assets, $152 million in total liabilities and a $54.5 million total stockholders' deficit. SETAI 3509: U.S. Trustee Unable to Appoint Committee ---------------------------------------------------- The Office of the U.S. Trustee on Sept. 23 disclosed in a court filing that no official committee of unsecured creditors has been appointed in the Chapter 11 cases of Setai 3509, LLC and Setai 1908, LLC. Setai 3509, LLC and Setai 1908, LLC, based in Miami Beach, Fla., filed a Chapter 11 petitions (Bankr. S.D. Fla. Case Nos. 16-20114 and 16-20115) on July 21, 2016. Judge Laurel M. Isicoff presides over Setai 3509's case, while Judge Robert A. Mark presides over Setai 1908's case. Michael S. Hoffman, Esq., at Hoffman Larin & Agnetti, P.A., serves as bankruptcy counsel. The Debtors each estimated $1 million to $10 million in assets. Setai 3509 estimated $10 million to $50 million in liabilities, while Setai 1908 estimated $1 million to $10 million in liabilities. The petitions were signed by Eric Grabois, authorized agent. SMILE ARTIST: Hires Frierson Sola as Accountant ----------------------------------------------- Smile Artist Dentistry PLLC seeks authorization from the U.S. Bankruptcy for the Southern District of Texas to employ Frierson, Sola, Simonton, & Kutac, PLLC as accountant. The professional services to be provided by Frierson Sola include the preparation of financial statements, tax returns and any additional accounting services as may be required for the Debtor's reorganization, including special accounting projects. Frierson Sola will be paid at these hourly rates: Vanessa Sola $200 Staff $110-$170 Frierson Sola will also be reimbursed for reasonable out-of-pocket expenses incurred. Vanessa Sola, owner of Frierson Sola, 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 Debtor and its estate. Frierson Sola can be reached at: Vanessa Sola FRIERSON, SOLA, SIMONTON & KUTAC, PLLC 801 Travis Street, Suite 1900 Houston, TX 77002 Tel: (713) 651-9250 Fax: (713) 651-9270 E-mail: vanessa@friersoncpa.com About Smile Artist Smile Artist Dentistry PLLC, based in Houston, TX, filed a Chapter 11 petition (Bankr. S.D. Tex. Case No. 16-33555) on July 18, 2016. The Hon. Marvin Isgur presides over the case. Richard L Fuqua, II, Esq., at Fuqua & Associates, PC, as bankruptcy counsel. In its petition, the Debtor estimated $0 to $50,000 in assets and $1 million to $10 million in liabilities. The petition was signed by Rodrigo Cabrera, president. SOUTHERN SEASON: Iron Horse to Auction Assets on Sept. 28 --------------------------------------------------------- The auction of assets not sold with the continuing operation of Southern Season of Chapel Hill, NC is now open for bidding. The firm of Iron Horse Auction Company, Inc has been ordered by the U.S. Bankruptcy Court, Middle District of North Carolina, Durham Division, Case # 16-80558, to sell these assets that came from the closings of stores in Richmond, VA and Mt. Pleasant, SC. Both stores were outfitted with the best equipment and brands, with only minimal use, as both stores were open only a short period of time. The assets include restaurant, bakery, grocery, wine, cooking school & catering equipment, plus every support item imaginable. This is a true opportunity of a lifetime to bid on millions of dollars worth of lightly used food service equipment. The auction is being conducted online only with extended bidding, featuring 3 catalogs with the final auction closing in days, starting on September 28 at 10:00 a.m. for catalog 1, September 29 at 10:00 a.m. for catalog 2 and September 30 at 10:00 a.m. for catalog 3. The assets are located at the Southern Season Distribution Warehouse at 2390 Park Center Dr., Mebane, NC 27302 at exit 153, I-85/I-40. For online bidding go to https://www.ironhorseauction.com/auctions/detail/gourmet-and-specialized-high-end-kitchen-equipment-bw4077 For further information and details, go to ironhorseauction.com or call: 800-997-2248 About Southern Season Southern Season, Inc., was founded in 1975 and is a premier retail destination for specialty food and gifts. It currently operates its flagship retail store located in Chapel Hill, North Carolina, and its three "Taste of Southern Season" stores in Asheville, Raleigh, North Carolina and Charleston, South Carolina. Southern Season sought protection under Chapter 11 of the Bankruptcy Code (Bankr. M.D.N.C. Case No. 16-80558) on June 24, 2016. The petition was signed by Clay Hammer, CEO. On Aug. 8, 2016, John Fioretti of ABTV was appointed as the Debtor's Chief Restructuring Officer. The CRO has the full and complete authority to manage the affairs of the Debtor. The Debtor is represented by John Paul H. Cournoyer, Esq., at Northen Blue, LLP, and Richard M. Hutson, II, Esq., at Hutson Law Offices, P.A. The case is assigned to Judge Benjamin A. Kahn. At the time of the filing, the Debtor disclosed $9.82 million in assets and $18.3 million in liabilities. SPANISH BROADCASTING: Has Until 2017 to Regain Nasdaq Compliance ---------------------------------------------------------------- Spanish Broadcasting System, Inc., previously received a written notice from The Nasdaq Stock Market, advising the Company that the market value of its Class A common stock for the previous 30 consecutive business days had been below the minimum $15,000,000 required for continued listing on the NASDAQ Global Market pursuant to NASDAQ Listing Rule 5450(b)(3)(C). The Notice also stated that pursuant to NASDAQ Listing Rule 5810(c)(3)(D), the Company would be provided an initial grace period of 180 calendar days, or until July 26, 2016, to regain compliance with the Rule. The Company did not regain compliance with the Rule by July 26, 2016. Accordingly, on July 27, 2016, the Company received written notification from NASDAQ that unless the Company requested a hearing before the NASDAQ Hearings Panel the Company's common stock would be delisted. The Company requested a hearing before the NASDAQ Hearings Panel to appeal the Staff Determination, which occurred on Sept. 8, 2016. On Sept. 17, 2016, the Company received written notification from NASDAQ, dated Sept. 12, 2016, granting the Company's request to continue the listing of its shares on the NASDAQ Global Market until Jan. 23, 2017. NASDAQ has required that, during this exception period, the Company provide prompt notification of any significant events that occur during this time which may call into question the Company's ability to demonstrate compliance with the Rule. The Company intends to use all reasonable efforts to maintain the listing of its common stock on the NASDAQ Global Market, but there can be no assurance that the Company will regain compliance with the Rule. If the Company does not regain compliance with the Rule by Jan. 23, 2017, the NASDAQ Hearings Panel will issue its final determination to delist the Company's shares and suspend trading on the NASDAQ Stock Market effective on the second business day from the date of the final determination. If the Company does not regain compliance with the rule by Jan. 23, 2017, it intends to apply for listing on the OTC Market. About Spanish Broadcasting Headquartered in Coconut Grove, Florida, Spanish Broadcasting System, Inc. -- http://www.spanishbroadcasting.com/-- owns and operates 21 radio stations targeting the Hispanic audience. The Company also owns and operates Mega TV, a television operation with over-the-air, cable and satellite distribution and affiliates throughout the U.S. and Puerto Rico. Its revenue for the twelve months ended Sept. 30, 2010, was approximately $140 million. As of June 30, 2016, Spanish Broadcasting had $443 million in total assets, $556 million in total liabilities and a total stockholders' deficit of $113 million. * * * In November 2010, Moody's Investors Service upgraded the corporate family and probability of default ratings for Spanish Broadcasting System, Inc., to 'Caa1' from 'Caa3' based on improved free cash flow prospects due to better than anticipated cost cutting and the expiration of an unprofitable interest rate swap agreement. Moody's said Spanish Broadcasting's 'Caa1' corporate family rating incorporates its weak capital structure, operational pressure in the still cyclically weak economic climate, generally narrow growth prospects (though Spanish language is the strongest growth prospect) given the maturity and competitive pressures in the radio industry, and the June 2012 maturity of its term loan magnify this challenge. As reported by the TCR on May 25, 2016, S&P Global Ratings said that it lowered its corporate credit rating on U.S. Spanish-language broadcaster Spanish Broadcasting System Inc. (SBS) to 'CCC' from 'CCC+'. SPECTRASCIENCE INC: Revised Articles of Incorporation Filed ----------------------------------------------------------- SpectraScience, Inc., filed these documents with the Securities and Exchange Commission: -- An Amended and Restated Articles of Incorporation dated as of August 21, 2014 (filed with the Secretary of State of Minnesota on August 25, 2014), a copy of which is available at https://is.gd/yRmblO -- Certificate of Designation of the Relative Rights and Preferences of the Series AA Super Voting Preferred Stock dated as of April 15, 2016 (filed with the Secretary of State of Minnesota on April 19, 2016), a copy of which is available at https://is.gd/AOAJWb -- A Form 8-K to disclose information related to: * Unregistered Sales of Equity Securities * Material Modification to Rights of Security Holders * Changes in Control of Registrant A copy of the Form 8-K is available at https://is.gd/ElNn5p About SpectraScience SpectraScience, Inc., develops and manufactures innovative Laser Induced Fluorescence spectrophotometry systems capable of determining whether tissue is normal, pre-cancerous or cancerous without removing tissue from the body. The WavSTAT Optical Biopsy System is SpectraScience's first product to incorporate its proprietary fluorescence technology for clinical use. The WavSTAT System carries the CE mark designation which allows for the sale and marketing in the European Union for the diagnosis of cancer. At June 30, 2016, the Company had $1,656,771 in total assets, total current liabilities of $10,425,813, total mezzanine equity of $30,850 and total shareholders' deficit of $8,799,892. As of June 30, 2016, the Company had a working capital deficit of $10,024,040 and cash of $27,860, compared to a working capital deficit of $8,324,600 and cash of $127,493 as of Dec. 31, 2015. In December 2011, the Company entered into an Engagement Agreement with Laidlaw & Company (UK) Ltd., which Engagement Agreement was amended in July 2012. Under the Engagement Agreement, Laidlaw agreed to assist the Company in raising up to $20.0 million in capital over a two-year period from the date of the Engagement Agreement. Subsequent to March 31, 2013, the Company has engaged other agents to assist the Company with raising capital and has commenced raising capital on its own. During the six months ended June 30, 2016, the Company raised $811,000, net of transaction costs of $24,000, under these agreements. However, if the Company does not receive additional funds in a timely manner, the Company could be in jeopardy as a going concern. The Company may not be able to find alternative capital or raise capital or debt on terms that are acceptable. Management believes that if the events defined in the Engagement Agreements occur as expected, or if the Company is otherwise able to raise a similar level of funds, such proceeds will be sufficient to allow the Company to sustain operations until it attains profitability and positive cash flows from operations. However, the Company may incur unknown expenses or may not be able to meet its revenue expectations requiring it to seek additional capital. In such event, the Company may not be able to find capital or raise capital or debt on terms that are acceptable. The holders of Convertible Debentures control the conversion of the Convertible Debentures and certain of the Convertible Debentures were not converted at their maturity constituting a potential default on the matured, but unconverted, Convertible Debentures. In the event of such default, principal, accrued interest and other related costs are immediately due and payable in cash. As of June 30, 2016, Convertible Debentures with a face value of $4,882,276 held by 79 individual investors are in default. None of these investors have served notice of default on the Convertible Debentures held by them. SPEEDYSIGNS.COM INC: Disclosures Okayed, Plan Hearing on Oct. 31 ---------------------------------------------------------------- The U.S. Bankruptcy Court for the Middle District of Florida will consider approval of the Chapter 11 plan of reorganization of SpeedySigns.com, Inc. at a hearing on October 31. The hearing will be held at 11:00 a.m., at Courtroom A, 4th Floor, 300 North Hogan Street, Jacksonville, Florida. The court will also consider at the hearing the final approval of SpeedySigns.com's disclosure statement, which it conditionally approved on September 15. Creditors are required to cast their votes no later than 14 days before the October 31 hearing. Objections must be filed seven days before the hearing. About SpeedySigns.com Inc. SpeedySigns.com, Inc. filed for Chapter 11 bankruptcy protection (Bankr. M.D. Fla. Case No. 15-05031) on Nov. 16, 2015. Anthony W. Chauncey, Esq., at The Chauncey Law Firm, PA, serves as the Debtor's bankruptcy counsel. The case is assigned to Judge Paul M. Glenn. ST. JOHN/BATTLE: Case Summary & 20 Largest Unsecured Creditors -------------------------------------------------------------- Debtor: St. John/Battle Creek Owner, LLC 23540 Reynolds Court Clinton Township, MI 48036 Case No.: 16-53193 Chapter 11 Petition Date: September 25, 2016 Court: United States Bankruptcy Court Eastern District of Michigan (Detroit) Judge: Hon. Marci B McIvor Debtor's Counsel: Ernest Hassan, Esq. STEVENSON & BULLOCK, P.L.C. 26100 American Drive, Suite 500 Southfield, MI 48034 Tel: (248) 354-7906 Fax: (248) 354-7907 E-mail: ehassan@sbplclaw.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $10 million to $50 million The petition was signed by Mark D. Krueger, member. A copy of the Debtor's list of 20 largest unsecured creditors is available for free at http://bankrupt.com/misc/mieb16-53193.pdf SUNEDISON INC: Vivint's Bid to Prosecute Chancery Court Suit Denied ------------------------------------------------------------------- Judge Stuart M. Bernstein of the United States Bankruptcy Court for the Southern District of New York denied Vivint Solar, Inc.'s motion seeking relief from the automatic stay to liquidate its prepetition claims against SunEdison Inc. and its wholly owned affiliate, SEV Merger Sub Inc., arising from an unconsummated merger transaction in the Delaware Chancery Court. To recall, in July last year, SunEdison and SEV entered into an Agreement and Plan of Merger with Vivint under which SunEdison agreed to acquire Vivint for approximately $2.2 billion in consideration consisting of $9.89 per share in cash, $3.31 per share worth of SunEdison common stock, and $3.30 per share of SunEdison convertible notes. The parties did not close on the merger. Instead, in October 2015, they entered into an amendment pursuant to which the cash consideration was decreased by $2.00 per share and the stock consideration was increased by $0.75 per share. The net effect was to decrease the consideration to be paid for Vivint by $1.25 per share. The parties failed to close on the Amended Merger Agreement transaction, and on March 7, 2016, Vivint gave notice to SunEdison that Vivint was terminating the transaction. The next day, Vivint filed a complaint in the Delaware Chancery Court against SunEdison and SEV, seeking declaratory judgment that the defendants had breached the Amended Merger Agreement and asserted unliquidated damage claims sounding in breach of contract and breach of the duty of good faith and fair dealing. Vivint filed the motion seeking relief from the automatic stay for "cause" pursuant to Section 362(d)(1) of the Bankruptcy Code to liquidate the amount of its claim expeditiously in the Delaware Chancery Court or, in the alternative, to try the dispute through an expedited trial in the Bankruptcy Court. According to Vivint, it is the Debtors' single largest unsecured creditor and its damages in the Merger Litigation are estimated at between $750 million and $1 billion. Vivint argues that establishing the precise amount of its claim is essential to providing adequate information to the creditor body and to confirming a plan. In addition, Vivint contends that the Delaware Chancery Court presents the most efficient forum to resolve the claims because it "adjudicates merger cases all the time," the Merger Litigation presents a "straightforward" dispute, and the Debtors' counsel had previously been willing to try the case in the Delaware Chancery Court in 2016. The Debtors oppose the Motion, contending that granting the Motion will divert their attention and resources to defending the Merger Litigation and encourage other unsecured creditors to seek stay relief. In their view, the Debtors' current efforts should instead focus on the chapter 11 cases, including negotiating and formulating a plan and continuing to sell assets for the benefit of the Debtors' stakeholders. The Debtors also deny that stay relief will serve judicial economy. The Debtors note that the Merger Litigation was in its early stages as of the Petition Date, and the Delaware Chancery Court is not a "specialized tribunal" with unique abilities to resolve the Merger Litigation. Applying the factors in Sonnax Indus., Inc. v. Tri Component Prods. Corp. (In re Sonnax Indus., Inc.), 907 F.2d 1280 (2d Cir. 1990), Judge Bernstein concluded that the Motion should be denied. Prosecution of the Merger Litigation at this time will interfere substantially with the progress of the bankruptcy case, and prejudice the interests of the other creditors, by diverting the Debtors' resources and personnel at a critical time in the case, Judge Bernstein held. Judge Bernstein pointed out that the one factor weighing in favor of granting the Motion is that it will completely resolve the issues between the Debtors and Vivint, but held that even then, final resolution following the exhaustion of the appellate process may be years away, and occur long after the Debtors have confirmed a plan. In any event, the balance of the Sonnax factors militates against granting stay relief, the judge said. A full-text copy of Judge Bernstein's Memorandum Decision dated September 13, 2016, is available at https://is.gd/26aLnC from Leagle.com. SunEdison, Inc., et al., Debtor, represented by Shana Elberg, Skadden Arps Slate Meagher & Flom, LLP, Jay M. Goffman, Skadden, Arps, Slate, Meagher & Flom LLP, J. Eric Ivester, Skadden, Arps, Slate, Meagher & Flom LLP, Martin A. Mooney, Skadden, Arps, Slate, Meagher & Flom LLP, Brian F. Moore, Togut, Segal & Segal LLP, Frank A. Oswald, Togut, Segal & Segal LLP, Scott Eric Ratner, Togut, Segal & Segal LLP, Stephen Matthew Sinaiko, Cohen & Gresser LLP, Albert Togut, Togut, Segal & Segal LLP. United States Trustee, U.S. Trustee, represented by Paul Kenan Schwartzberg, Office of the United States Trustee. Prime Clerk LLC Claims Agent, Claims and Noticing Agent, represented by Adam M. Adler, Prime Clerk LLC. Official Committee of Unsecured Creditors, Creditor Committee, represented by Matthew Scott Scott, Weil, Gotshal & Manges LLP. About SunEdison, Inc. SunEdison, Inc. (OTC PINK: SUNEQ), is a developer and seller of photovoltaic energy solutions, an owner and operator of clean power generation assets, and a global leader in the development, manufacture and sale of silicon wafers to the semiconductor industry. On April 21, 2016, SunEdison, Inc., and 25 of its affiliates each filed a Chapter 11 bankruptcy petition (Bankr. S.D.N.Y. Case Nos. 16-10991 to 16-11017). Martin H. Truong signed the petitions as senior vice president, general counsel and secretary. The Debtors disclosed total assets of $20.7 billion and total debt of $16.14 billion as of Sept. 30, 2015. The Debtors have hired Skadden, Arps, Slate, Meagher & Flom LLP as counsel, Togut, Segal & Segal LLP as conflicts counsel, Rothschild Inc. as investment banker and financial advisor, McKinsey Recovery & Transformation Services U.S., LLC, as restructuring advisors and Prime Clerk LLC as claims and noticing agent. The Debtors employed PricewaterhouseCoopers LLP as financial advisors; and KPMG LLP as their auditor and tax consultant. An official committee of unsecured creditors has been appointed in the case. The committee tapped Weil, Gotshal & Manges LLP as its general bankruptcy counsel and Morrison & Foerster LLP as special counsel. TARGA RESOURCES: Moody's Assigns Ba3 Senior Unsecured Notes Rating ------------------------------------------------------------------ Moody's Investors Service assigned a Ba3 rating to Targa Resources Partners LP's (TRP) proposed $800 million total offering of senior unsecured notes due 2025 and 2027. Proceeds from the issuance will be used to fund the announced tender offer on its outstanding series of unsecured notes due 2018, 2020, and 2021. TRP's Ba2 Corporate Family Rating (CFR), negative outlook, and all other ratings are unchanged. "TRP's debt-funded tender offer is a modest positive, as it will result in an improved maturity schedule," commented Arvinder Saluja, Moody's Vice President -- Senior Analyst. "However, our expectations for potential weakness in TRP's credit metrics are unchanged, as reflected in the negative outlook." Issuer: Targa Resources Partners LP Ratings Assigned: -- Senior Unsecured Notes due 2025, Assigned Ba3 (LGD4) -- Senior Unsecured Notes due 2027, Assigned Ba3 (LGD4) RATINGS RATIONALE The senior unsecured notes are rated Ba3, as a result of the secured nature and priority claims to assets of the senior secured revolving credit facility and the accounts receivable securitization facility. Due to the substantial size of the revolver, and Moody's expectations of TRP's usage of the revolver over time, the notes are rated one notch below the Ba2 CFR, consistent with Moody's Loss Given Default Methodology. The preferred units are rated B1 reflecting their effective subordination to all of TRP's existing senior unsecured notes and the senior secured revolving credit facility. TRP's Ba2 CFR is supported by its scale and EBITDA generation which will remain sizeable despite the low commodity prices, its track record of strong execution of growth projects, and the meaningful proportion of fee-based margin contribution. TRP has increased geographic diversification and improved business diversification through acquisitions and has incrementally grown its fee-based business (about two-thirds of operating margin in 2015). These positive attributes are tempered by the material exposure to the gathering and processing business, continued weakness in natural gas liquids (NGL) markets that lowers its earnings on commodity sensitive contracts, its historically aggressive distribution policies, and heightened volume risk in Moody's expected scenario of commodity prices remaining lower for longer. TRP's SGL-3 rating reflects adequate liquidity through 2017. As of June 30, 2016, TRP had $159 million of cash, as well as $1.5 billion available under its $1.6 billion senior secured revolving credit facility due October 2017, net of $55 million of borrowings and $13.3 million of letters of credit outstanding. After payment of TRP preferred unit distributions, remaining distributable cash flow will fund the distributions at Targa Resources Corp. (TRC, Ba2 negative) on preferred and common units. Moody's said, "Given the expectation of weaker EBITDA, after maintenance capital spending and distributions, we expect TRP to increase borrowings under its revolver to fund negative free cash flow, as it completes growth capital projects which are expected to begin generating cash flow in late 2016 and early 2017." "TRP was in compliance with the covenants governing the revolver at quarter-end. Despite an anticipated increase in leverage if EBITDA growth is muted, we expect TRP will maintain compliance through 2017, albeit with decreasing cushion. TRP revolver covenants require maintenance of EBITDA to interest expense of at least 2.25x, debt to EBITDA no greater than 5.5x, and senior debt to EBITDA of no greater than 4x (excluding the TRP unsecured notes)," Moody's said. TRP's leverage covenant calculations exclude the secured debt at TRC. Secondary liquidity is limited as the majority of the partnership's assets are pledged to the senior secured creditors. Following the scheduled expiration of the revolver, TRP's nearest maturity is January 2018, when $734 million of currently outstanding unsecured notes are due. The negative outlook is based on the potential for further downside earnings risk from TRP's percent-of-proceeds contracts and other contracts that entail commodity and producer volume exposures, leading to some greater than anticipated deterioration in credit metrics and distribution coverage which might not be fully offset by increased earnings from the growth projects. TRP's ratings could be downgraded if the combined companies' (TRP and its parent, Targa Resources Corp.) Debt/EBITDA is sustained over 6x because of insufficient equity funding of growth capital spending or acquisitions and/or weaker than expected earnings. Debt funded acquisitions or significant delays or cost overruns on growth projects could also pressure the ratings. An upgrade is unlikely over the next year given TRP's exposure to weak commodity prices. However, the company could be upgraded to Ba1 if combined leverage is sustained at or below 4.5x and dividend coverage above 1.1x. Targa Resources Partners LP, which is wholly-owned by Targa Resources Corp. (Ba2 negative), operates a portfolio of midstream energy assets that include, gathering pipelines, gas processing plants, NGL pipeline, NGL fractionation units, and a marine import/export facility on the Gulf Coast. The principal methodology used in these ratings was Global Midstream Energy published in December 2010. TARGA RESOURCES: S&P Rates Proposed $800MM Sr. Unsec. Notes 'BB-' ----------------------------------------------------------------- S&P Global Ratings assigned its 'BB-' issue-level rating and '4' recovery rating to Targa Resources Partners L.P. and subsidiary Targa Resources Partners Finance Corp.'s proposed $800 million senior unsecured notes due 2025 and 2027. The '4' recovery rating indicates S&P's expectation for average (30%-50%; upper half of the range) recovery in a payment default scenario. The partnership intends to use the net proceeds from the notes to tender its 5% senior unsecured notes due 2018, 6.625% senior notes due 2020, and 6.875% senior notes due 2021. As of June 30, 2016, Targa had total balance sheet debt of about $5 billion. Houston-based Targa is a midstream energy partnership that specializes in natural gas gathering and processing, the fractionating and distribution of natural gas liquids, and crude oil logistics. RATINGS LIST Targa Resources Partners L.P. Corporate Credit Rating BB-/Negative/-- New Ratings Targa Resources Partners L.P. Targa Resources Partners Finance Corp. Prpsd Sr Unsecd Nts Due 2025 BB- Recovery Rating 4H Prpsd Sr Unsecd Nts Due 2027 BB- Recovery Rating 4H TATUADO HOSPITALITY: Disclosures OK'd; Plan Hearing on Oct. 27 -------------------------------------------------------------- The Hon. August B. Landis of the U.S. Bankruptcy Court for the District of Nevada has approved Tatuado Hospitality Management Group, LLC's disclosure statement explaining the Debtor's plan of reorganization dated July 1, 2016. The hearing to consider the confirmation of the Plan will e held on Oct. 27, 2016, at 1:30 p.m. Objections to the confirmation of the Plan must be filed by Oct. 13, 2016. Oct. 13 will also be the last date to vote to accept or reject the Plan. Replies to any objections to the Plan, along with the Debtor's voting tabulation and brief in support of confirmation will be due on Oct. 20, 2016. As reported by the Troubled Company Reporter on Aug. 31, 2016, the Debtor filed a plan to exit Chapter 11 protection, which proposes that general unsecured creditors get 1 to 2% of their claims. About Tatuado Hospitality Tatuado Hospitality Management Group, LLC, a Nevada company formed in September 2013, operates two restaurants and bars in Southern Nevada. It owns Vince Neil's Tatuado Eat Drink Party located inside the Circus Circus Hotel and Casino in Las Vegas, and Vince Neil's Tatuado Wild Side Tavern located along Gamebird Road, Pahrump The Debtor sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Nev. Case No. 16-10460) on Feb. 1, 2016. The petition was signed by Michael F. Tsunis, manager. The Debtor is represented by Samuel A. Schwartz, Esq., and Bryan A. Lindsey, Esq., at Schwartz Flansburg PLLC. The case is assigned to Judge August B. Landis. At the time of the filing, the Debtor estimated assets of less than $50,000 and liabilities of $1 million to $10 million. TECHPRECISION CORP: Extends Stockholder Proposal Deadline --------------------------------------------------------- TechPrecision Corporation has extended the deadline for stockholder proposals to Oct. 6, 2016. In order to be considered at the Annual Meeting of Stockholders on Thursday, Dec. 8, 2016, any and all stockholder proposals must be received at the principal executive offices of the Company, 1 Bella Drive, Westminster, MA 01473, c/o the Corporate Secretary, on or before the close of business on Thursday, Oct. 6, 2016, and must be in compliance with the procedures regarding stockholder proposals set forth in the Company's bylaws. The Notice of Annual Meeting and Proxy Statement describing the business to be conducted at the annual meeting will be filed with the Securities and Exchange Commission after the Company's Board of Directors has had the opportunity to review any stockholder proposals it may receive. About TechPrecision TechPrecision Corporation (OTC BB: TPCSE), through its wholly owned subsidiaries, Ranor, Inc., and Wuxi Critical Mechanical Components Co., Ltd., globally manufactures large-scale, metal fabricated and machined precision components and equipment. TechPrecision reported net income of $1.35 million on $16.9 million of net sales for the year ended March 31, 2016, compared to a net loss of $3.58 million on $18.2 million of net sales for the year ended March 31, 2015. As of June 30, 2016, Techprecision had $12.0 million in total assets, $9.81 million in total liabilities and $2.18 million in total stockholders' equity. TEXAS PELLETS: Hires Ordinary Course Professionals --------------------------------------------------- Texas Pellets, Inc. and German Pellets Texas, LLC seek authorization from the U.S. Bankruptcy Court for the Eastern District of Louisiana to employ professionals used in the ordinary course of business, nunc pro tunc to the April 30, 2016 petition date. The Debtors, in the ordinary course of their businesses' operations, have called upon and regularly call upon certain professionals, including accountants and consultants, to assist them in carrying out their businesses. The Debtors cannot continue to operate their businesses in sound business fashion unless they retain and pay for the services of the Ordinary Course professionals. Some of the Ordinary Course Professionals identified in this Application have been providing services to the Debtors since shortly after the Petition Date. Moreover, the Ordinary Course Professionals have significant roles in auditing functions that could prove beneficial in providing information to creditors, in marketing the Debtors and their assets, and in advancing the Debtors' reorganization process. The Ordinary Course Professionals are: Sales, Income and Other Taxes Clifton Larson & Allen 5001 Spring Valley Road 600W Dallas, TX 75244-3964 Tel: (972) 383-5700 Fax: (972) 383-5750 Property Taxes Cummins Westlake Audit Whitley Penn 8343 Douglas Avenue Suite 400 Dallas, TX 75225 Tel: (214) 393-9300 No Ordinary Course Professional may ever receive, in the aggregate, more than $100,000 in compensation for services rendered and/or expenses incurred during the pendency of these Bankruptcy Cases. Although some Ordinary Course Professionals may hold limited unsecured prepetition claims against the Debtors in respect of prepetition services rendered and equity interests in the Debtors, the Debtors do not believe that any of the Ordinary Course Professionals have an interest materially adverse to the Debtors, their creditors, or other parties-in-interest. About Texas Pellets Texas Pellets, Inc., based in Woodville, Texas, filed a Chapter 11 petition (Bankr. E.D. Tex. Case No. 16-90126) on April 30, 2016. The petition was signed by Anna Katherin Leibold, president and chief executive officer. German Pellets Texas, LLC, also based in Woodville, Texas, filed a Chapter 11 petition (Bankr. E.D. Tex. Case No. 16-90127) on April 30, 2016. The petition was signed by Peter H. Leibold, its chief executive officer. The cases have been jointly administered under Texas Pellets' case. Judge Bill Parker presides over the cases. The Office of the U.S. Trustee formed an Official Committee of Unsecured Creditors. TIM'S TRUCKING: Files Plan to Exit Chapter 11 Protection -------------------------------------------------------- Tim's Trucking, Inc., on Sept. 15 filed with the U.S. Bankruptcy Court for the District of Nebraska its proposed plan to exit Chapter 11 protection. Under the plan, the principals of Tim's Trucking will contribute a sum equal to 10% of all allowed Class 3A unsecured claims, on a pro rata basis and with no interest, amortized over five years in equal annual payments. Payments will begin one year after confirmation. Daniel Dugan, son of the officers of Tim's Trucking, will seek financing to purchase all assets of the company, and the company will be liquidated, according to the disclosure statement explaining the proposed plan. A copy of the disclosure statement is available for free at https://is.gd/4rITK3 Tim's Trucking is represented by: John C. Hahn, Esq. Wolfe, Snowden, Hurd, Luers & AHL, LLP Wells Fargo Center 1248 "O" Street, Suite 800 Lincoln, NE 68508 Tel: (402) 474-1507 Fax: (402) 474-3170 Email: jhahn@wolfesnowden.com About Tim's Trucking Inc. Tim's Trucking, Inc., sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Neb. Case No. 16-40206) on February 17, 2016. The petition was signed by Raymond T. Dugan, president. At the time of the filing, the Debtor estimated assets and liabilities of less than $500,000. TLC HEALTH: Decrease in MedSurg Unit Census, 13th Report PCO Says ----------------------------------------------------------------- Linda Scharf, RN, DNS, the Patient Care Ombudsman for TLC Health Care Network, has filed a Thirteenth Report for the period January 15, 2016, to March 15, 2016. During the visits conducted on the facilities, the hospital census was five on the medical surgical unit and 11 on the behavioral health unit, which represents a substantial decrease in the medical surgical unit census and a slight decrease in the behavioral health unit census. The PCO found no findings of decline in medical care. The PCO continues to receive positive statements by the patients commenting on the quality of care provided by the facility. As a summary of the Report, the PCO mentioned that the facility continues to concentrate on the needs of its patients. Patients' reports showed their satisfaction with the care provided by the facility, and with the availability of supplies, medications and staff when needed. About TLC Health Network TLC Health Network filed a Chapter 11 petition (Bankr. W.D.N.Y. Case No. 13-13294) on Dec. 16, 2013. The petition was signed by Timothy Cooper as Chairman of the Board. The Debtor estimated assets of at least $10 million and debt of at least $1 million. Jeffrey A. Dove, Esq., at Menter, Rudin & Trivelpiece, P.C., serves as the Debtor's counsel. Damon & Morey LLP is the Debtor's special health care law and corporate counsel. The Bonadio Group is the Debtor's accountants. Howard P. Schultz & Associates, LLC is the Debtor's appraiser. The case is assigned to the Hon. Carl L. Bucki. A three-member panel composed of Cannon Design, Chautauqua Opportunities, Inc., and Jamestown Rehab Services has been appointed as the official unsecured creditors committee. Bond, Schoeneck & King, PLLC is the counsel to the Committee. The Committee has tapped NextPoint LLC as financial advisor. TOWN SPORTS: PW Partners Reports 13.2% Stake as of Sept. 21 ----------------------------------------------------------- In an amended Schedule 13D filed with the Securities and Exchange Commission, PW Partners Atlas Fund III LP, PW Partners Atlas Funds, LLC and PW Partners Capital Management LLC disclosed that as of Sept. 21, 2016, they beneficially own 3,407,441 shares of common stock of Town Sports International Holdings, Inc., representing 13.2 percent of the shares outstanding. Patrick Walsh, managing member and chief executive officer of Atlas Fund GP and the managing member of PW Capital Management, also reported beneficial ownership of 3,706,735 common shares. A full-text copy of the regulatory filing is available at: https://is.gd/bT4EE2 About Town Sports New York-based Town Sports International Holdings, Inc. is one of the leading owners and operators of fitness clubs in the Northeast and mid-Atlantic regions of the United States and, through its subsidiaries, operated 151 fitness clubs as of March 31, 2016, comprising 104 New York Sports Clubs, 27 Boston Sports Clubs, 12 Washington Sports Clubs (one of which is partly-owned), five Philadelphia Sports Clubs, and three clubs located in Switzerland, and three BFX Studio locations. In addition, the Company also has one partly-owned club that operated under a different brand name in Washington, D.C. as of March 31, 2016. These clubs collectively served approximately 553,000 members as of March 31, 2016. For more information on TSI, including the Company's Form 10-Q for the quarterly period ended March 31, 2016, visit http://investor.mysportsclubs.com As of June 30, 2016, Town Sports had $257.14 million in total assets, $338.50 million in total liabilities and a total stockholders' deficit of $81.35 million. * * * As reported by the TCR on March 14, 2016, Standard & Poor's Ratings Services said it raised its corporate credit rating on New York City-based Town Sports International Holdings Inc. to 'CCC+' from 'SD'. Town Sports carries a Caa2 corporate family rating from Moody's Investors Service. TRASK DEVELOPERS: Confirmation Hearing Set for Nov. 17 ------------------------------------------------------ Judge Scott C. Clarkson of the U.S. Bankruptcy Court for the Central District of California will hold a hearing to consider confirmation of the joint Chapter 11 plan proposed by Trask Developers, LLC and its chief executive officer on November 17, 2016, at 11:00 a.m. Acceptances and rejections of the Joint Plan must be received by the Debtors' bankruptcy counsel no later than Oct. 28, 2016, in order to be counted. The last day for filing and serving objections to confirmation of the Joint Plan pursuant to Rule 3020(b)(1) of the Federal Rules of Bankruptcy Procedure will be October 28, 2016. The last day for the Debtors to file and serve the plan confirmation brief, including a report on the voting on the Joint Plan, and replies to any opposition to confirmation of the Joint Plan is on Nov. 10, 2016. The last day to file a notice requesting an evidentiary hearing allowing for cross examination of witnesses at the plan confirmation hearing is on Nov, 15, 2016. The last day for filing and serving any replies to the plan confirmation brief will be November 16, 2016, at 12:00 p.m. The outline of the Debtors' joint Chapter 11 plan was approved on Sept. 19, 2016. About Trask Developers Trask Developers LLC and Paul Chieu Nguyen, member and chief executive officer of the company, sought protection under Chapter 11 of the Bankruptcy Code (Bankr. C.D. Cal. Lead Case No. 16-11621) on April 15, 2016. The case is assigned to Judge Scott C. Clarkson. At the time of the filing, Trask Developers estimated its assets at $1 million to $10 million and debts at $500,000 to $1 million. TRINITY TEMPLE: Hires Peachstate Financial as Mortgage Broker ------------------------------------------------------------- Trinity Temple Church of God in Christ, Inc. seeks authorization from the U.S. Bankruptcy Court for the District of Connecticut to employ Peachstate Financial Services as mortgage broker and consultant. The Debtor requires Peachstate Financial to assist with refinancing Greenwich's debt and provide standard mortgage brokering services in Connecticut. Peachstate Financial will only charge the estate if it is successful in originating and closing a loan. Peachstate Financial's fee will be 3% percent of the total funds advanced by the lender at settlement. The Debtor will also reimburse Peachstate Financial for reasonable and customary charges, such as appraisal fees, documentation fees, application fees, etc. Joseph Roberts, owner of Peachstate Financial, 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 Debtor and its estate. Peachstate Financial can be reached at: Joseph Roberts PEACHSTATE FINANCIAL SERVICES 4130 Morning Mist Lane Cumming, GA 30028 Tel: (770) 886-7585 About The Trinity Temple Church of God in Christ The Trinity Temple Church of God in Christ, Inc., filed a chapter 11 petition (Bankr. D. Conn. Case No. 16-30714) on May 5, 2016. The petition was signed by Charles H. Brewer, III, president. The Debtor is represented by Jeffrey M. Sklarz, Esq., at Green & Sklarz LLC. The case is assigned to Judge Julie A. Manning. The Debtor estimated both assets and liabilities in the range of $1 million to $10 million. TWENTYEIGHTY INC: S&P Affirms 'CC' Rating on Senior Secured Debt ---------------------------------------------------------------- S&P Global Ratings revised its recovery rating on TwentyEighty Inc.'s senior secured debt to '4' from '3'. The '4' recovery rating indicates S&P's expectation for average recovery (30%-50%; lower half of the range) of principal for secured lenders in the event of a payment default. At the same time, S&P affirmed its 'CC' issue-level rating on the senior secured debt. The revision is based on a lower valuation of the company in S&P's simulated default scenario. The valuation reflects a $30 million EBITDA at emergence assumption, which is closer to S&P's estimated EBITDA for the next 12 months, and a 5x distressed EBITDA multiple. RATINGS LIST TwentyEighty Inc. Corporate Credit Rating CC/Negative/-- Rating Affirmed; Recovery Rating Revised To From TwentyEighty Inc. Senior Secured CC CC Recovery Rating 4L 3L UCI HOLDINGS: Seeks Exclusivity Extension Thru Dec. 29 ------------------------------------------------------ BankruptcyData.com reported that UCI Holdings filed with the U.S. Bankruptcy Court a motion to extend the exclusive period by 90 days during which the Company can file a Chapter 11 plan and solicit acceptances thereof through and including Dec. 29, 2016 and Feb. 27, 2017, respectively. The motion explains, "Absent an extension of the Exclusive Periods, any party in interest could propose a plan of reorganization for some or all of the Debtors. The filing of a competing plan would cause concern among the Debtors' customers and vendors, potentially leading to cascading operational disruptions that could unwind many of the Debtors' significant achievements to date and derail the Debtors' efforts to effectuate an orderly reorganization. Accordingly, the Debtors request that the Court enter the Proposed Order extending the Exclusive Periods." The Court scheduled an October 14, 2016 hearing to consider the extension motion with objections due by October 7, 2016. About UCI International UCI International, LLC, headquartered in Lake Forest, IL, designs, manufactures, and distributes vehicle replacement parts, including a broad range of filtration, fuel delivery systems, and cooling systems products in the automotive, trucking, marine, mining, construction, agricultural, and industrial vehicles markets. UCI and its affiliates sought Chapter 11 protection (Bankr. D. Del. Lead Case No. 16-11355) on June 1, 2016. The Debtors are represented by lawyers at Sidley Austin LLP. Alvarez & Marsal provides the company with financial advice and Moelis & Company LLC is the Debtors' investment banker. Garden City Group serves as the Debtors' Claims Agent. Wilmington Trust is the Indenture Trustee for a $400-million issue of 8.625% Senior Notes Due 2019. The United States Trustee appointed an Official Committee of Unsecured Creditors, which has retained Morrison & Foerster LLP as proposed counsel, and Cole Schotz PC as Delaware co-counsel. Zolfo Cooper LLC has been retained as bankruptcy consultant and financial advisor for the Committee. ULTRAPETROL (BAHAMAS): Default on Interest Payment on Senior Notes ------------------------------------------------------------------ Ultrapetrol (Bahamas) Limited filed its report on Form 6-K, disclosing a net loss of $29.91 million on $140.78 million of revenues for the six months ended June 30, 2016, compared with a net loss of $11.50 million on $180.67 million of revenues for the six months ended June 30, 2015. The Company's balance sheet at June 30, 2016, showed $839.73 million in total assets, $559.22 million in total liabilities, and a stockholders' equity of $280.51 million. The Company maintains $478,893 of long term financial debt including accrued interests as of June 30, 2016 of which $119,006 are current as were stated in the terms of the original debt agreements. The Company has not made each of the $10 million interest payment due on December 15, 2015 and June 15, 2016 on its outstanding 8.875% First Preferred Ship Mortgage Notes due 2021 (the "2021 Senior Notes") which constitutes an event of default. The Company entered into forbearance agreements with most of its lenders with respect to this event of default which expired at May 31, 2016. The lenders agreed, for the duration of these agreements, not to accelerate their loans, take any enforcement actions or exercise any remedies with respect to defaults resulting from the nonpayment by the Company of its interest payment under the 2021 Senior Notes, and to work with the Company in negotiating a sustainable financial structure. The forbearance agreement also provided for the formation of a special committee, among others, to explore options and make recommendations to the Company's board of directors in connection with the restructuring of the Company, including a process to market and sell the River Business and Offshore Supply Business. This sale process was launched in February 2016 in accordance with the agreement and some non-binding offers were received being far from what it is considered a fair value for this business. As a result of these non-compliances and of the default and cross-default provisions contained in relevant debt agreements, the Company has classified the respective long term financial debt amounting to $359,887 at June 30, 2016, as current liabilities. As a result, the Company reports a working capital deficit of $401,950 at June 30, 2016. The Company cannot guarantee that its efforts to extend the maturity of or restructure its debt agreements will be successful. If the Company fails to remedy or obtain a waiver of the event of defaults its lenders may accelerate the Company's indebtedness under the relevant debt agreements, which could trigger the cross-acceleration or cross-default provisions contained in its other debt agreements. If the Company's indebtedness is accelerated, it will be very difficult in the current financing environment for them to refinance its debt or obtain additional financing and the Company could lose its vessels if its lenders foreclose their liens, which could impair the Company's ability to conduct its business. Thus, there is a substantial doubt about the ability of the Company to continue as a going concern and about the recoverability of recorded assets. A copy of the Form 6-K is available at: https://is.gd/sLreZu Ultrapetrol (Bahamas) Limited is an industrial shipping company serving the marine transportation markets. The Company serves the shipping markets for grain, forest products, minerals, crude oil, petroleum and refined petroleum products, as well as technological products through its container feeder vessels, and the offshore oil platform supply market through its operations in the three segments of the marine transportation industry. As reported in the Troubled Company Reporter - Latin America on Aug. 9, 2016, S&P Global Ratings affirmed its 'D' corporate credit and issue-level ratings on South American shipping company Ultrapetrol (Bahamas) Ltd. VERENGO INC: Files for Bankruptcy, to Sell Business to Lender ------------------------------------------------------------- Verengo, Inc., which touted itself as the largest Southern California-based residential solar provider, sought bankruptcy protection with the goal of selling substantially all of its assets. The board of directors of the Company has authorized the filing of the Chapter 11 case given the Debtor's inability to independently survive as a going concern. "This Chapter 11 Case will allow the Debtor to maintain operations and save jobs while providing the necessary time to complete the current sales process for the benefit of stakeholders," said Dan Squiller, chief executive officer of Verengo, in a declaration filed with the court. "Absent the protections of the Bankruptcy Code, the Debtor will run out of cash, shut down operations, lay off employees and liquidate, all to the detriment of the Debtor's employees, customers, suppliers, and creditors," he added. In 2013, the Debtor was suspended by the New York State Energy Research and Development Authority due to quality problems with its installations in the eastern part of the U.S. As a result, the Company was prevented from activating many of its installed systems until they were reinstalled. This, according to the Company, resulted in additional costs and reduced cash flow. In January 2015, all the Company's northeast operations were sold to NRG Energy, Inc. and the Northern and Central California operations were shut down. In addition, between 2012 and 2016 sales and marketing expenses for the origination part of the business were excessive and weighed on the Company's cash flow. The Debtor's reduced cash flow and strained liquidity continued in 2016. Against this backdrop, the Debtor said it implemented a focused business-to-business strategy, eliminating the unprofitable origination business and becoming an engineering, procurement and construction company. These initiatives reduced year-over-year operating expenditures by $26 million and indirect costs by $3.9 million. Verengo initiated the sales process in April 2016. Despite these efforts, none of the discussions resulted in a transaction. On Sept. 23, 2016, the Debtor signed a stalking horse purchase agreement with Crius Solar Fulfillment, LLC pursuant to which Crius Solar will serve as the stalking horse purchaser of the Debtor's assets for $11.9 million. Crius intends to credit bid $11.7 million. The sale is subject to higher and better bids at an auction and approval of the bankruptcy court. In order to fund the continued operations of the Debtor during the completion of the marketing process, Crius Solar has agreed to provide the Debtor with $2 million debtor-in-possession financing. The Debtor will be able to draw up to $1.5 million of this facility immediately upon issuance of an interim order approving the DIP credit agreement. First Day Motions Contemporaneously with the bankruptcy petition, the Debtor has filed various first day motions seeking authority to, among other things, use existing bank accounts, pay employee obligations, prohibit utility companies from discontinuing services, pay critical vendor claims, obtain DIP Financing and use cash collateral. A full-text copy of Dan Squiller's declaration in support of the First Day Motions is available for free at http://bankrupt.com/misc/2_VERENGO_Declaration.pdf About Crius Solar Crius Solar Fulfillment was formed in September 2016 to pursue the acquisition of a bridge loan and the provision of the DIP Credit Facility, as well as to serve as the stalking horse purchaser of the Debtor's assets. The members of Crius Solar are Crius Energy, LLC, Angeleno Investors III -- Verengo Solar, L.P., ClearSky Funding I LLC, and Spruce Finance. Prior to the Petition Date, Crius Solar purchased a $983,000 loan from Bridge Bank. The Debtor had a line of credit with Bridge Bank with a high balance of $9.3 million, which balance was reduced over time. The loan is currently in default. CPF Asset Management, LLC, now known as Spruce Finance, loaned $8.5 million to Verengo. Spruce is an independent company that facilitates Verengo's business by purchasing the installation projects from Verengo and acting as a finance company for Verengo's customers. Interest is accruing on the Spruce Loans but no principal payments have been made. The Company believes the Spruce Loans to be junior to the Bridge Bank Loan. Immediately prior to the Petition Date, the Spruce Loans were also acquired by Crius Solar. The Debtor is party to additional related party secured notes totaling $22.96 million, believed to be junior to both the Bridge Bank Loan and the Spruce Loan. No principal or interest payments are currently being made on the Senior Notes. In connection with the formation of Crius Solar, Angeleno, ClearSky and Spruce contributed their holdings of the Spruce Notes and the Investor Notes held by them to Crius Solar. About Verengo Headquartered in Torrance, California, Verengo, Inc. is engaged in the installation of solar photovoltaic systems and claims to be one of the most well-known and respected brands in residential solar. The Debtor also markets and sells solar panels and semiconductor-based micro inverter systems in the United States. As of August 2016, the Debtor has installed 19,800 systems. Currently the Company employs 129 people, down from 1,000 in 2012. For the year ending Dec. 31, 2015, the Debtor achieved $82 million in revenue and 3,170 installations. The Debtor believes that its 2016 EBITDA will be positive by December, with 2017's forecasted cost reductions driven by reduced supply chain costs and volume increase. The Debtor projects $2.6 million of revenue from new accounts from August through December 2016. The Debtor estimated assets and liabilities in the range of $10 million to $50 million each. The Debtor has hired Bayard, P.A. as counsel, Sherwood Partners, Inc. as financial advisor, SSG Advisors, Inc. as investment banker and Upshot Services LLC as claims and noticing agent. The case is pending in the U.S. Bankruptcy Court for the District of Delaware (Bankr. D. Del. Case No. 16-12098) before Judge Brendan Linehan Shannon. VERENGO INC: Hires Upshot Services as Claims and Noticing Agent --------------------------------------------------------------- Verengo, Inc., seeks authority from the bankruptcy court to appoint UpShot Services LLC, as its claims and noticing agent, nunc pro tunc to Sept. 23, 2016. Although the Debtor has not yet filed its schedules of assets and liabilities, it anticipates there will be in excess of 200 creditors in its case. Given the number of anticipated claimants, the Debtor asserts that the appointment of the Claims Agent is in the best interest of both its estate and its creditors. Specifically, UpShot will: (a) prepare and serve required notices and documents in the cases in accordance with the Bankruptcy Code and the Federal Rules of Bankruptcy Procedure in the form and manner directed by the Debtor and/or the Court, including (i) notice of the commencement of the case and the initial meeting of creditors under Bankruptcy Code Section 341(a), (ii) notice of any claims bar date, (iii) notices of transfers of claims, (iv) notices of objections to claims and objections to transfers of claims, (v) notices of any hearings on a disclosure statement and confirmation of the Debtor's plan or plans of reorganization, including under Bankruptcy Rule 3017(d), (vi) notice of the effective date of any plan and (vii) all other notices, orders, pleadings, publications and other documents as the Debtor or Court may deem necessary or appropriate for an orderly administration of the cases; (b) maintain an official copy of the Debtor's schedules of assets and liabilities and statement of financial affairs, listing the Debtor's known creditors and the amounts owed thereto; (c) maintain (i) a list of all potential creditors, equity holders and other parties-in-interest; and (ii) a "core" mailing list consisting of all parties described in Bankruptcy Rule 2002(i), (j) and (k) and those parties that have filed a notice of appearance pursuant to Bankruptcy Rule 9010; update said lists and make said lists available upon request by a party-in-interest or the Clerk; (d) furnish a notice to all potential creditors of the last date for the filing of proofs of claim and a form for the filing of a proof of claim, after such notice and form are approved by this Court, and notify said potential creditors of the existence, amount and classification of their respective claims as set forth in the Schedules, which may be effected by inclusion of such information (or the lack thereof, in cases where the Schedules indicate no debt due to the subject party) on a customized proof of claim form provided to potential creditors; (e) maintain a post office box or address for the purpose of receiving claims and returned mail, and process all mail received; (f) for all notices, motions, orders or other pleadings or documents served, prepare and file or cause to be filed with the Clerk an affidavit or certificate of service within seven business days of service which includes (i) either a copy of the notice served or the docket numbers and titles of the pleadings served, (ii) a list of persons to whom it was mailed (in alphabetical order) with their addresses, (iii) the manner of service, and (iv) the date served; (g) process all proofs of claim received, including those received by the Clerk's Office, and check said processing for accuracy, and maintain the original proofs of claim in a secure area; (h) maintain the official claims register for the Debtor on behalf of the Clerk; upon the Clerk's request, provide the Clerk with certified, duplicate unofficial Claims Register; and specify in the Claims Register the following information for each claim docketed: (i) the claim number assigned, (ii) the date received, (iii) the name and address of the claimant and agent, if applicable, who filed the claim, (iv) the amount asserted, (v) the asserted classification(s) of the claim (e.g., secured, unsecured, priority, etc.), (vi) the applicable Debtor, and (vii) any disposition of the claim; (i) implement necessary security measures to ensure the completeness and integrity of the Claims Register and the safekeeping of the original claims; (j) record all transfers of claims and provide any notices of those transfers as required by Bankruptcy Rule 3001(e); (k) relocate, by messenger or overnight delivery, all of the court-filed proofs of claim to the offices of the Claims Agent, not less than weekly; (l) upon completion of the docketing process for all claims received to date for each case, turn over to the Clerk copies of the Claims Register for the Clerk's review (upon the Clerk's request); (m) monitor the Court's docket for all notices of appearance, address changes, and claims-related pleadings and orders filed and make necessary notations on and/or changes to the Claims Register; (n) assist in the dissemination of information to the public and respond to requests for administrative information regarding the cases as directed by the Debtor or the Court, including through the use of a case website and/or call center; (o) if the case is converted to Chapter 7, contact the Clerk's Office within days of the notice to the Claims Agent of entry of the order converting the case; (p) 30 days prior to the close of this case, to the extent practicable, request that the Debtor submits to the Court a proposed Order dismissing the Claims Agent and terminating the services of such agent upon completion of its duties and responsibilities and upon the closing of this case; (q) within seven days of notice to the Claims Agent of entry of an order closing the Chapter 11 case, provide to the Court the final version of the Claims Register as of the date immediately before the close of the case; and (r) at the close of this case, box and transport all original documents, in proper format, as provided by the Clerk's Office, to (i) the Federal Archives Record Administration, located at Central Plains Region, 200 Space Center Drive, Lee's Summit, MO 64064 or (ii) any other location requested by the Clerk's Office. The Debtor requests that the undisputed fees and expenses incurred by the Claims Agent in the performance of the services be treated as administrative expenses of its estate and be paid in the ordinary course of business without further application to or order of the Court. UpShot's rates for consulting services are: Clerical $27 per hour Case Assistant $54 per hour IT Manager $81 per hour Case Consultant $108 per hour Case Director $153 per hour To the best of the Debtor's knowledge, UpShot (a) is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, except that UpShot was employed by the Debtor prior to the Petition Date as allowed by Section 1107(b) of the Bankruptcy Code and (b) does not hold or represent an interest materially adverse to the Debtor's estate. About Verengo Headquartered in Torrance, California, Verengo, Inc. is engaged in the installation of solar photovoltaic systems and claims to be one of the most well-known and respected brands in residential solar. The Debtor also markets and sells solar panels and semiconductor-based micro inverter systems in the United States. As of August 2016, the Debtor has installed 19,800 systems. Currently the Company employs 129 people, down from 1,000 in 2012. For the year ending Dec. 31, 2015, the Debtor achieved $82 million in revenue and 3,170 installations. The Debtor believes that its 2016 EBITDA will be positive by December, with 2017's forecasted cost reductions driven by reduced supply chain costs and volume increase. The Debtor projects $2.6 million of revenue from new accounts from August through December 2016. Verengo filed a voluntary petition under Chapter 11 of the Bankruptcy Code on Sept. 23, 2016. The Debtor estimated assets and liabilities in the range of $10 million to $50 million each. The Debtor has hired Bayard, P.A. as counsel, Sherwood Partners, Inc. as financial advisor, SSG Advisors, Inc. as investment banker and Upshot Services LLC as claims and noticing agent. The case is pending in the U.S. Bankruptcy Court for the District of Delaware (Bankr. D. Del. Case No. 16-12098) before Judge Brendan Linehan Shannon. VERENGO INC: Obtains $2-Mil. DIP Commitment from Crius Solar ------------------------------------------------------------ To maintain operations and ultimately restore confidence with those entities with whom debtor Verengo, Inc., has done business, the Debtor said it needs access to additional financing in the form of a debtor-in-possession credit facility. To this end, Verengo sought authority from the Bankruptcy Court to obtain up to $2,000,000 from Crius Solar Fulfillment, LLC, and to use cash collateral of the prepetition secured parties. The financing will enable the Debtor to stabilize operations, continue servicing existing customers, and take on new jobs. "Over the past eight to nine months, the Debtor has been unable to obtain sufficient equity or debt financing. The Debtor could not obtain any unsecured financing, nor could the Debtor and its advisors locate an entity willing to extend credit in exchange for a loan that would provide sufficient liquidity. Nor could the Debtor obtain an additional equity investment from any potential strategic partner, despite having engaged in an aggressive marketing campaign over the last several months to solicit investments in, or the purchase of, the Debtor," said Scott D. Cousins, Esq., at Bayard, P.A., one of the Debtor's attorneys. "Faced with this situation, the Debtor decided to enter into the DIP Loan Documents, and conducted extensive arms' length and good faith negotiations with the DIP Lender. The Debtor ultimately determined that the DIP Lender's proposal for postpetition financing was the most favorable under the circumstances, and adequately addressed the Debtor's reasonably foreseeable liquidity needs," he added. The DIP Credit Facility bears an interest rate of 12% per annum. Default interest rate is 2.00% in excess of applicable interest rate. The DIP Facility will mature on the earlier of (a) the date a plan is consummated in the Chapter 11 case of the Debtor, (b) the date of consummation of a sale of all or substantially all of the assets of the Debtor, or (c) Dec. 31, 2016. The Debtor intends to grant the DIP Lender superpriority claims and DIP liens which include: a first-priority lien on the unencumbered property, a second-priority lien on non-primed liens, and a first priority senior priming lien on all prepetition collateral. The Superpriority Claim in favor of the DIP Lender will be senior to all claims except for the carve-out. The DIP Liens also will be senior to the prepetition secured parties' adequate protection liens. The DIP Credit Facility Liens and the Superpriority Claims are subordinate only to these Carve-Out: (i) any fees payable to the Clerk of the Court and to the Office of the U.S. Trustee pursuant to Section 1930(a) of the Bankruptcy Code, and any interest on those fees payable pursuant to Section 3717 of the Bankruptcy Code; (ii) the reasonable fees and expenses up to $10,000 incurred by a trustee appointed in the Debtor's case under Section 726(b) of the Bankruptcy Code; and (iii) up to $50,000 of allowed fees, expenses and disbursements of professionals retained by order of the Court incurred after the occurrence of a Carve-Out Event plus all unpaid professional fees, expenses and disbursements allowed by the Court for professionals employed by the estates and retained by order of the Court up to the amount provided for such Estate Professionals on a line item basis in the Budget (including any previously unused amounts) that were incurred prior to the occurrence of a Carve-Out Event (regardless of when those fees, expenses and disbursements become allowed by order of the Court). The Debtor wants to provide adequate protection to these parties with respect to the applicable prepetition secured debt obligations: (i) the first lien lender under the Amended and Restated Business Financing Agreement, dated as of March 20, 2014, between Verengo in its capacity as a borrower thereunder and Crius Solar Fulfillment as the lender thereunder (and successor to Bridge Bank, National Association); and (ii) the second lien lenders under the Note Purchase Agreement, dated as of Jan. 15, 2015, the Amended and Restated Note Purchase Agreement, dated as of Sept. 24, 2015, and the Note Purchase Agreement, dated as of Dec. 2, 2015, each among Verengo in its capacity as issuer thereunder, Crius Solar Fulfillment, as lender thereunder and any other Second Lien Lenders party thereto from time to time. "The Debtor has a critical need to access the DIP Credit Facility and use the Prepetition Collateral, including the Cash Collateral, to continue operations and conduct a sale of its assets. Access to the DIP Credit Facility and the Debtor's use of Prepetition Collateral (including Cash Collateral) is necessary to ensure that the Debtor has sufficient working capital and liquidity to, among other things, permit the orderly continuation of its business, preserve the going concern value of the Debtor, make payroll and satisfy other working capital and general corporate purposes of the Debtor (including costs related to the Case)," Mr. Cousins maintained. If approved by the Court, the Debtor will use Cash Collateral in accordance with a budget until the earlier to occur of (a) the Maturity Date of the DIP Credit Facility and (b) the acceleration of any DIP Loans and the termination of the DIP Credit Agreement. The Debtor projects total disbursements of $7.11 million for the period from Sept. 23, 2016, through Dec. 31, 2016. The Debtor also expects total receipts of $6.58 million for the same period. About Verengo Headquartered in Torrance, California, Verengo, Inc. is engaged in the installation of solar photovoltaic systems and claims to be one of the most well-known and respected brands in residential solar. The Debtor also markets and sells solar panels and semiconductor-based micro inverter systems in the United States. As of August 2016, the Debtor has installed 19,800 systems. Currently the Company employs 129 people, down from 1,000 in 2012. For the year ending Dec. 31, 2015, the Debtor achieved $82 million in revenue and 3,170 installations. The Debtor believes that its 2016 EBITDA will be positive by December, with 2017's forecasted cost reductions driven by reduced supply chain costs and volume increase. The Debtor projects $2.6 million of revenue from new accounts from August through December 2016. Verengo filed a voluntary petition under Chapter 11 of the Bankruptcy Code on Sept. 23, 2016. The Debtor estimated assets and liabilities in the range of $10 million to $50 million each. The Debtor has hired Bayard, P.A. as counsel, Sherwood Partners, Inc. as financial advisor, SSG Advisors, Inc. as investment banker and Upshot Services LLC as claims and noticing agent. The case is pending in the U.S. Bankruptcy Court for the District of Delaware (Bankr. D. Del. Case No. 16-12098) before Judge Brendan Linehan Shannon. WCI COMMUNITIES: S&P Puts 'B' CCR on CreditWatch Positive --------------------------------------------------------- S&P Global Ratings said that it has placed all of its ratings, including its 'B' corporate credit rating, on WCI Communities Inc. on CreditWatch with positive implications. "The CreditWatch listing follows WCI's announcement that Lennar has agreed to acquire all of the company's outstanding common stock in a cash and stock transaction valued at $23.50 per share," said S&P Global credit analyst Thomas O'Toole. The transaction values WCI at approximately $643 million in equity or an enterprise value of $809 million. The company expects to complete the transaction in December 2016 or January 2017. S&P plans to resolve the CreditWatch placement following the close of the transaction, which is subject to customary closing conditions and regulatory approval. Assuming the transaction closes as planned, S&P would subsequently raise its ratings on WCI to equalize them with S&P's ratings on Lennar before withdrawing S&P's corporate credit rating on WCI. WINDMILL RESERVE: U.S. Trustee Unable to Appoint Committee ---------------------------------------------------------- The Office of the U.S. Trustee on Sept. 23 disclosed in a court filing that no official committee of unsecured creditors has been appointed in the Chapter 11 case of Windmill Reserve Corp. Windmill Reserve Corp. filed a Chapter 11 petition (Bankr. S.D. Fla. Case No. 16-20986) on Aug. 8, 2016. The Debtor continues to operate its business and manage its properties as a debtor-in-possession pursuant to 11 U.S.C. Sec. 1107(a) and 1108. No trustee, examiner, or committee has been appointed in the case. Windmill Reserve is represented by: Paul Steven Singerman, Esq. Jordi Guso, Esq. BERGER SINGERMAN LLP 1450 Brickell Ave., Suite 1900 Miami, FL 33131 Telephone: (305) 755-9500 E-mail: singerman@begersingerman.com jguso@bergersingerman.com WINSLOW CROCKER: Unsecured Creditors to Get $36K Under Ch. 11 Plan ------------------------------------------------------------------ Winslow Crocker, III, filed with the U.S. Bankruptcy Court for the Northern District of Ohio his proposed plan to exit Chapter 11 protection. The purpose of the plan is to restructure the Debtor's secured debt and allow him to retain his assets. As of Sept. 15, eight creditors have filed secured claims totaling $921,877. The Debtor earns income from renting out his properties. Presently, the Debtor gets most of his income from the rental of 23 residential units. Each of the Debtor's properties is encumbered by one or more mortgages. Each property is overleveraged, which means that there is substantially more mortgage debt on each property than the property's fair market value at the time of filing of the Debtor's bankruptcy case. With respect to the Debtor's properties, the plan provides for the bifurcation of each first mortgage into a secured portion representing the "fair market value" of the property on the date of filing, and an unsecured portion representing the amount owed on the mortgage, which exceeds the market value of the property. The plan provides that all defaults will be waived and each first mortgage will be modified to provide for repayment on a 30-year amortization at a fixed interest rate. The Debtor intends to keep all property of the estate. Allowed priority unsecured claims, costs of administration, legal fees will be paid in installments over the term of the plan. Meanwhile, the total pool of unsecured creditors will receive a payment of $36,000 over the term of the plan. Unsecured creditors will be paid pro-rata on an annual basis, according to the Debtor's disclosure statement explaining the plan. A copy of the disclosure statement is available for free at https://is.gd/FcE9g3 About Winslow Crocker Winslow Crocker, III sought protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ohio Case No. 14-17406) on November 23, 2014. The case is assigned to Judge Arthur I. Harris. YELLOW CAB: Committee Plan Estimates Secured Claims to Total $452K ------------------------------------------------------------------ The Official Committee of Unsecured Creditors of Yellow Cab Affiliation, Inc., filed with the U.S. Bankruptcy Court for the Northern District of Illinois an amended disclosure statement for the Committee's Chapter 11 plan of liquidation. The Amended Disclosure Statement provides that Class 2 - Secured Claim of New York Marine and General Insurance Company, which is estimated to total $0-$400,000, will recover 100% of its total allowed amount. Class 3 - The prepetition Secured Claims of American United Taxi Affiliation, Inc., Metro Cabs 1 LLC, TAS, Taxi Works LLC, and Wolley Cab Association d/b/a Checker Taxi Affiliation, which are estimated to total $0-$52,517, will recover 100% of their total allowed amount. The Committee expressly reserved its right to contest any Secured Claims filed, scheduled and/or asserted in the Bankruptcy Case. Class 6 Unsecured Claims estimated at $31,455,429 are impaired. Each holder of an allowed Class 6 Claim will receive a beneficial interest in the creditor trust, entitling the holder of an Allowed Class 6 Claim to a pro rata share of the distribution from the Creditor Trust equal to the Allowed Class 6 claim divided by the combined amount of the uninsured portion of all Allowed Class 5 Claims and all Class 6 Claims. On the Effective Date, all of the Debtor's assets will automatically be transferred to and vest in the Creditor Trust. The Creditor Trustee will operate the Debtor's business and then liquidate the Creditor Trust assets as soon as the Creditor Trustee deems appropriate in the exercise of his sole discretion. The Creditor Trust will have exclusive access to all bank accounts of the Debtor. Immediately after the Effective Date, the Debtor will execute the Creditor Trust Agreement and will take all other steps necessary to establish the Creditor Trust pursuant to the Creditor Trust agreement. The Creditor Trust is established under this Plan to administer all assets (including causes of action) of, and claims against, the Debtor's estate. Patrick O'Malley of Development Specialist, Inc., will become the Creditor Trustee on the Effective Date in accordance with the Creditor Trust Agreement, and will have the powers and responsibilities set forth in the Committee's Plan and in the Creditor Trust Agreement. The Disclosure Statement is available at: http://bankrupt.com/misc/ilnb15-09539-974.pdf About Yellow Cab Affiliation Chicago, Illinois-based Yellow Cab Affiliation, Inc., filed for Chapter 11 protection (Bankr. N.D. Ill. Case No. 15-09539) on March 18, 2015. The petition was signed by Michael Levine, president. Bankruptcy Judge Hon. Carol A. Doyle presides over the case. Matthew T. Gensburg, Esq., and Martin S Kedziora, Esq., at Greenberg Traurig, LLP, and Bruce Zirinksky represent the Debtor in its restructuring effort. The Debtor estimated assets at $1 million to $10 million and debt of $10 million to $50 million. YWCA OF ESSEX: Disclosure Statement OK'd, Plan Hearing on Oct. 18 ----------------------------------------------------------------- The U.S. Bankruptcy Court for the District of New Jersey will consider approval of the Chapter 11 plan of YWCA of Essex and West Hudson, Inc., at a hearing on October 18. The hearing will be held at 11:00 a.m., at Martin Luther King, Jr. Federal Building, Courtroom 3E, 50 Walnut Street, in Newark, New Jersey. The court had earlier approved YWCA's disclosure statement, allowing it to start soliciting votes from creditors. The Sept. 15 order set an October 11 deadline for creditors to file written acceptances or rejections of the plan, and file their objections. YWCA is represented by: Stuart M. Nachbar, Esq. Law Office of Stuart M. Nachbar, P.C. 570 West Mount Pleasant Avenue P.O. Box 2205 Livingston, NJ 07039 Phone: 973-567-0954 Fax: 973-629-1294 Email: Stuart@snanj.com About YWCA of Essex and West Hudson YWCA of Essex and West Hudson, Inc. sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D.N.J. Case No. 13-27694) on August 12, 2013. The petition was signed by Donna K. Williams, president. At the time of the filing, the Debtor estimated assets of less than $50,000 and liabilities of less than $500,000. Z BEST RENTALS: Case Summary & 20 Largest Unsecured Creditors ------------------------------------------------------------- Debtor: Z Best Rentals, Inc. 4878 Palm Coast Pkwy NW Palm Coast, FL 32137-3636 Case No.: 16-03586 Chapter 11 Petition Date: September 23, 2016 Court: United States Bankruptcy Court Middle District of Florida (Jacksonville) Debtor's Counsel: Lisa C Cohen, Esq. RUFF & COHEN PA 4010 Newberry Road, Suite G Gainesville, FL 32607 Tel: (352) 376-3601 Fax: (352) 378-1261 E-mail: mcourtruff@bellsouth.net lisacohen@bellsouth.net Total Assets: $2.35 million Total Liabilities: $2.71 million The petition was signed by Sherry Arnett, president. A copy of the Debtor's list of 20 largest unsecured creditors is available for free at http://bankrupt.com/misc/flmb16-03586.pdf [*] HWA Bankruptcy Attorneys Named in Best Lawyers of America List ------------------------------------------------------------------ Brent L. Vannoy recently joined Hughes Watters Askanase L.L.P. as a partner supporting the firm's Business Planning and Strategy, Commercial Litigation, and Labor and Employment Practice Areas. Additionally, four HWA attorneys were recently named to the 2017 list of Best Lawyers in America(C). Founding partner David Askanase, co-managing partner Wayne Kitchens, and senior counsel attorney Randall Rios were named as 2017 Best Lawyers in America in the Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law category. In addition, partner Carolyn A. Taylor was included in the list of Best Lawyers in America. Ms. Taylor started and is well recognized for her expertise in the Default Servicing Practice Area of HWA. Since it was first published in 1983, Best Lawyers(R) has become universally regarded as the definitive guide to legal excellence. Best Lawyers lists are compiled based on an exhaustive peer-review evaluation. Over 83,000 leading attorneys globally are eligible to vote, and it has received more than 13 million votes to date on the legal abilities of other lawyers based on their specific practice areas around the world. For the 2017 Edition of The Best Lawyers in America(C), 7.3 million votes were analyzed, which resulted in almost 55,000 leading lawyers being included in the new edition. Lawyers are not required or allowed to pay a fee to be listed; therefore, inclusion in Best Lawyers is considered a singular honor. Corporate Counsel magazine has called Best Lawyers "the most respected referral list of attorneys in practice." Gary Gunn, co-managing partner of HWA commented: "Our firm continues to attract and retain highly regarded legal talent, which positions us extremely well to serve our clients in Texas and support other attorneys and their clients throughout the nation in the best manner possible. Brent will play a key role in supporting me and other HWA partners as we expand our practice areas and add depth of experience. David, Wayne, Randy and Carolyn have garnered the respect and recognition of their peers yet again this year through the Best Lawyers vetting process." More About These Attorneys Mr. Vannoy has been practicing law for more than 20 years. A current member of the State Bar of Texas and the Houston Bar Association, he was admitted to the State Bar of Texas in 1995. He is licensed to practice in the U.S. Court of Appeals for the 5th Circuit, U.S. District Court, Northern District of Texas, U.S. District Court, Southern District of Texas, and U.S. District Court, Eastern District of Texas. Mr. Vannoy earned a Bachelor of Arts degree in English from Texas A&M University and completed supplemental studies in Great Books of Western Civilization at Thomas Aquinas College in Santa Paula, California. He earned a Juris Doctorate from the University of Houston Law Center in 1995. He is a former publishing editor of the Houston Journal of International Law and is the recipient of the Harris Award for Outstanding Volunteer presented by the Greater Houston A&M Club as well as several other awards. Mr. Vannoy serves as the Committee Chair for Troop 40, Skyline District, Sam Houston Area Council, Boy Scouts of America. He is also the past president of the Timbergrove Manor Civic Club. A native of Houston, he and his family reside in Garden Oaks. Mr. Askanase started HWA with John Hughes (retired) and Harry Watters (deceased) in 1978. He recently retired from practicing law after more than 40 years in the industry. A highly respected attorney with deep expertise in bankruptcy law, he focused his practice on reorganizations and workouts for corporations and individuals, representation of secured creditors in and out of bankruptcy, and representation of entities which sought to acquire assets out of bankruptcy cases. Since 1976, he served as a Chapter 7 Trustee for the U.S. Bankruptcy Court, Southern District of Texas, Houston Division. He has also served as Trustee in several large Chapter 11 liquidation cases. Mr. Askanase has earned certifications from the Texas Board of Legal Specialization in both consumer bankruptcy law and business bankruptcy law. He is consistently listed in The Best Lawyers in America(R) and in Texas Monthly and Law & Politics magazines' annual Texas Super Lawyers guides. Mr. Kitchens co-manages HWA with Mr. Gunn and has been in practice for more than 30 years. He also co-chairs the Business Bankruptcy Practice Area along with partner Steven Shurn. He focuses his practice on reorganizations and workouts for corporations and individuals, the representation of secured creditors in and out of bankruptcy, and the representation of entities that seek to acquire assets out of bankruptcy cases. He also represents bankruptcy trustees and creditors' committees. He has authored numerous articles on bankruptcy and creditor/debtor rights and is a frequent speaker at continuing education seminars and conferences. He has been named one of Houston's best lawyers by H-Texas Magazine and has been honored as a Texas Super Lawyer by Law & Politics and Texas Monthly magazines every year since 2003. He also has been named one of the top 100 lawyers (out of approximately 14,000) in Houston by the same publication. Mr. Kitchens is certified in business bankruptcy law by the Texas Board of Legal Specialization. Mr. Rios supports the firm's Business Bankruptcy Practice Area and practices in the areas of bankruptcy and creditor/debtor rights in the business bankruptcy practice. He has extensive experience in representing debtors, creditors' committees, landlords, and purchasers of distressed assets as well as trustees in numerous reorganization and liquidation bankruptcy cases. In a legal career spanning more than 25 years, Mr. Rios has been consistently named to the list of Super Lawyers by Law & Politics and Texas Monthly magazines and H-Texas Magazine's Lists of Lawyers for the People and Top Lawyers. Mr. Rios has represented clients in all Districts of Texas, and numerous other Districts including the District of Delaware, the District of Nevada, the Central and Northern Districts of California, the Southern District of New York and the United States Court of Appeals for the Fifth Circuit. Ms. Taylor established the firm's mortgage banking default servicing group, and leads HWA's Default Servicing Practice Area. She is also heads the Credit Unions and Creditor's Rights Areas with partner Dominique Varner. She was instrumental in implementing the internal and external policies and procedures that enable her team to provide exemplary service. Ms. Taylor's practice focuses in the areas of mortgage banking, consumer financial services, credit unions and bankruptcy law. She is certified by the Texas Board of Legal Specialization in both consumer and business bankruptcy law. She was named to the list of Texas Super Lawyers from 2003 through 2013. About HWA For almost 40 years, HWA -- http://www.hwa.com/-- has helped business organizations, financial institutions and individuals succeed with their business endeavors. The firm's practice focuses on representation of commercial and mortgage lenders, including banks and credit unions, business bankruptcy, business planning and strategy, default servicing, real estate and real estate finance, commercial and consumer financial services litigation and regulation, employment law, and wills and probate. [^] Large Companies with Insolvent Balance Sheet ------------------------------------------------ Total Share- Total Total Holders' Working Assets Equity Capital Company Ticker ($MM) ($MM) ($MM) ------- ------ ------ -------- ------- ABSOLUTE SOFTWRE ALSWF US 114.7 (43.7) (34.6) ABSOLUTE SOFTWRE ABT CN 114.7 (43.7) (34.6) ABSOLUTE SOFTWRE ABT2EUR EU 114.7 (43.7) (34.6) ABSOLUTE SOFTWRE OU1 GR 114.7 (43.7) (34.6) ADV MICRO DEVICE AMDUSD SW 3,316.0 (413.0) 925.0 ADV MICRO DEVICE AMD US 3,316.0 (413.0) 925.0 ADV MICRO DEVICE AMD SW 3,316.0 (413.0) 925.0 ADV MICRO DEVICE AMDCHF EU 3,316.0 (413.0) 925.0 ADV MICRO DEVICE AMD* MM 3,316.0 (413.0) 925.0 ADV MICRO DEVICE AMD QT 3,316.0 (413.0) 925.0 ADV MICRO DEVICE AMD GR 3,316.0 (413.0) 925.0 ADV MICRO DEVICE AMD TH 3,316.0 (413.0) 925.0 ADV MICRO DEVICE AMD TE 3,316.0 (413.0) 925.0 ADVANCED EMISSIO OXQ1 GR 36.6 (10.5) (11.2) ADVANCED EMISSIO ADES US 36.6 (10.5) (11.2) ADVANCEPIERRE FO APFHEUR EU 1,149.4 (335.7) 180.5 ADVANCEPIERRE FO APFH US 1,149.4 (335.7) 180.5 ADVENT SOFTWARE ADVS US 424.8 (50.1) (110.8) AERIE PHARMACEUT 0P0 GR 120.1 (17.4) 94.1 AERIE PHARMACEUT AERI US 120.1 (17.4) 94.1 AERIE PHARMACEUT AERIEUR EU 120.1 (17.4) 94.1 AEROJET ROCKETDY GCY TH 2,000.1 (108.0) 100.6 AEROJET ROCKETDY AJRDEUR EU 2,000.1 (108.0) 100.6 AEROJET ROCKETDY GCY GR 2,000.1 (108.0) 100.6 AEROJET ROCKETDY AJRD US 2,000.1 (108.0) 100.6 AIR CANADA ACDVF US 14,539.0 (673.0) (496.0) AIR CANADA ADH2 TH 14,539.0 (673.0) (496.0) AIR CANADA ACEUR EU 14,539.0 (673.0) (496.0) AIR CANADA AC CN 14,539.0 (673.0) (496.0) AIR CANADA ADH2 GR 14,539.0 (673.0) (496.0) AK STEEL HLDG AKS US 3,918.3 (300.6) 665.0 AK STEEL HLDG AKS* MM 3,918.3 (300.6) 665.0 AK STEEL HLDG AK2 TH 3,918.3 (300.6) 665.0 AK STEEL HLDG AK2 GR 3,918.3 (300.6) 665.0 AMER RESTAUR-LP ICTPU US 33.5 (4.0) (6.2) AMYLIN PHARMACEU AMLN US 1,998.7 (42.4) 263.0 APPTIO INC-CL A APTI US 107.5 (17.7) (8.0) ARCH COAL INC ACIIQ* MM 4,685.2 (1,627.0) 713.1 ARIAD PHARM APS QT 624.4 (37.9) 206.5 ARIAD PHARM ARIA US 624.4 (37.9) 206.5 ARIAD PHARM ARIACHF EU 624.4 (37.9) 206.5 ARIAD PHARM ARIA SW 624.4 (37.9) 206.5 ARIAD PHARM ARIAEUR EU 624.4 (37.9) 206.5 ARIAD PHARM APS TH 624.4 (37.9) 206.5 ARIAD PHARM APS GR 624.4 (37.9) 206.5 ARRAY BIOPHARMA AR2 TH 168.9 (37.9) 102.9 ARRAY BIOPHARMA ARRYEUR EU 168.9 (37.9) 102.9 ARRAY BIOPHARMA ARRY US 168.9 (37.9) 102.9 ARRAY BIOPHARMA AR2 GR 168.9 (37.9) 102.9 ASCENT SOLAR TEC ASTIEUR EU 14.0 (5.3) (7.9) ASPEN TECHNOLOGY AST TH 419.7 (75.0) (71.3) ASPEN TECHNOLOGY AST GR 419.7 (75.0) (71.3) ASPEN TECHNOLOGY AZPN US 419.7 (75.0) (71.3) ASPEN TECHNOLOGY AZPNEUR EU 419.7 (75.0) (71.3) AUTOZONE INC AZ5 QT 8,464.1 (1,863.3) (422.1) AUTOZONE INC AZ5 TH 8,464.1 (1,863.3) (422.1) AUTOZONE INC AZO US 8,464.1 (1,863.3) (422.1) AUTOZONE INC AZOEUR EU 8,464.1 (1,863.3) (422.1) AUTOZONE INC AZ5 GR 8,464.1 (1,863.3) (422.1) AVID TECHNOLOGY AVID US 273.7 (289.0) (88.5) AVID TECHNOLOGY AVD GR 273.7 (289.0) (88.5) AVINTIV SPECIALT POLGA US 1,991.4 (3.9) 322.1 AVON - BDR AVON34 BZ 3,638.1 (397.3) 702.1 AVON PRODUCTS AVP CI 3,638.1 (397.3) 702.1 AVON PRODUCTS AVP TH 3,638.1 (397.3) 702.1 AVON PRODUCTS AVP US 3,638.1 (397.3) 702.1 AVON PRODUCTS AVP* MM 3,638.1 (397.3) 702.1 AVON PRODUCTS AVP GR 3,638.1 (397.3) 702.1 BARRACUDA NETWOR CUDAEUR EU 430.7 (19.3) (28.8) BARRACUDA NETWOR 7BM QT 430.7 (19.3) (28.8) BARRACUDA NETWOR CUDA US 430.7 (19.3) (28.8) BARRACUDA NETWOR 7BM GR 430.7 (19.3) (28.8) BENEFITFOCUS INC BNFT US 164.8 (31.8) (0.2) BENEFITFOCUS INC BTF GR 164.8 (31.8) (0.2) BLUE BIRD CORP BLBD US 310.3 (99.1) (7.6) BLUE BIRD CORP 1291067D US 310.3 (99.1) (7.6) BOMBARDIER INC-B BBDBN MM 23,871.0 (3,918.0) 1,670.0 BOMBARDIER-B OLD BBDYB BB 23,871.0 (3,918.0) 1,670.0 BOMBARDIER-B W/I BBD/W CN 23,871.0 (3,918.0) 1,670.0 BRINKER INTL EAT US 1,472.7 (213.1) (255.7) BRINKER INTL EAT2EUR EU 1,472.7 (213.1) (255.7) BRINKER INTL BKJ GR 1,472.7 (213.1) (255.7) BROOKFIELD REAL BRE CN 98.8 (29.4) 1.0 BRP INC/CA-SUB V DOO CN 2,204.8 (73.9) 63.7 BRP INC/CA-SUB V BRPIF US 2,204.8 (73.9) 63.7 BRP INC/CA-SUB V B15A GR 2,204.8 (73.9) 63.7 BUFFALO COAL COR BUC SJ 48.1 (17.9) 0.3 BURLINGTON STORE BURL US 2,566.3 (103.7) 93.1 BURLINGTON STORE BUI GR 2,566.3 (103.7) 93.1 BURLINGTON STORE BURL* MM 2,566.3 (103.7) 93.1 CAESARS ENTERTAI C08 GR 12,117.0 (96.0) (2,233.0) CAESARS ENTERTAI CZR US 12,117.0 (96.0) (2,233.0) CALIFORNIA RESOU 1CLB GR 6,476.0 (1,045.0) (206.0) CALIFORNIA RESOU CRCEUR EU 6,476.0 (1,045.0) (206.0) CALIFORNIA RESOU 1CL TH 6,476.0 (1,045.0) (206.0) CALIFORNIA RESOU CRC US 6,476.0 (1,045.0) (206.0) CALIFORNIA RESOU 1CLB QT 6,476.0 (1,045.0) (206.0) CAMBIUM LEARNING ABCD US 133.8 (69.9) (55.1) CARBONITE INC 4CB GR 133.4 (2.1) (39.9) CARBONITE INC CARB US 133.4 (2.1) (39.9) CARRIZO OIL&GAS CO1 GR 1,457.6 (110.4) (103.8) CARRIZO OIL&GAS CRZO US 1,457.6 (110.4) (103.8) CARRIZO OIL&GAS CO1 TH 1,457.6 (110.4) (103.8) CARRIZO OIL&GAS CRZOEUR EU 1,457.6 (110.4) (103.8) CASELLA WASTE CWST US 631.6 (22.2) (6.0) CASELLA WASTE WA3 GR 631.6 (22.2) (6.0) CEB INC FC9 GR 1,509.2 (71.7) (153.6) CEB INC CEB US 1,509.2 (71.7) (153.6) CEDAR FAIR LP 7CF GR 2,072.4 (28.4) (104.7) CEDAR FAIR LP FUN US 2,072.4 (28.4) (104.7) CENTENNIAL COMM CYCL US 1,480.9 (925.9) (52.1) CHOICE HOTELS CZH GR 843.4 (373.8) 118.7 CHOICE HOTELS CHH US 843.4 (373.8) 118.7 CINCINNATI BELL CBB US 1,423.2 (217.0) (48.0) CINCINNATI BELL CIB GR 1,423.2 (217.0) (48.0) CLEAR CHANNEL-A C7C GR 5,698.1 (966.4) 682.6 CLEAR CHANNEL-A CCO US 5,698.1 (966.4) 682.6 CLEARSIDE BIOMED CLSD US 4.5 (4.3) 1.2 CLEARSIDE BIOMED CLM GR 4.5 (4.3) 1.2 CLIFFS NATURAL R CLF2EUR EU 1,851.0 (1,678.9) 403.1 CLIFFS NATURAL R CVA TH 1,851.0 (1,678.9) 403.1 CLIFFS NATURAL R CLF* MM 1,851.0 (1,678.9) 403.1 CLIFFS NATURAL R CLF US 1,851.0 (1,678.9) 403.1 CLIFFS NATURAL R CVA GR 1,851.0 (1,678.9) 403.1 CLIFFS NATURAL R CVA QT 1,851.0 (1,678.9) 403.1 COGENT COMMUNICA CCOI US 626.4 (29.4) 142.2 COGENT COMMUNICA OGM1 GR 626.4 (29.4) 142.2 COHERUS BIOSCIEN 8C5 GR 251.1 (61.9) 128.6 COHERUS BIOSCIEN CHRSEUR EU 251.1 (61.9) 128.6 COHERUS BIOSCIEN 8C5 TH 251.1 (61.9) 128.6 COHERUS BIOSCIEN CHRS US 251.1 (61.9) 128.6 COMMUNICATION CSAL US 2,851.7 (1,247.6) - COMMUNICATION 8XC GR 2,851.7 (1,247.6) - CPI CARD GROUP I PNT CN 277.1 (91.0) 56.9 CPI CARD GROUP I PMTS US 277.1 (91.0) 56.9 CPI CARD GROUP I CPB GR 277.1 (91.0) 56.9 CVR NITROGEN LP RNF US 241.4 (166.3) 12.0 CYAN INC YCN GR 112.1 (18.4) 56.9 CYAN INC CYNI US 112.1 (18.4) 56.9 DELEK LOGISTICS DKL US 381.8 (9.3) 15.3 DELEK LOGISTICS D6L GR 381.8 (9.3) 15.3 DENNY'S CORP DE8 GR 293.2 (52.7) (44.5) DENNY'S CORP DENN US 293.2 (52.7) (44.5) DIRECTV DTV CI 25,321.0 (3,463.0) 1,360.0 DIRECTV DTVEUR EU 25,321.0 (3,463.0) 1,360.0 DIRECTV DTV US 25,321.0 (3,463.0) 1,360.0 DOMINO'S PIZZA DPZ US 652.3 (1,914.8) 93.7 DOMINO'S PIZZA EZV TH 652.3 (1,914.8) 93.7 DOMINO'S PIZZA EZV GR 652.3 (1,914.8) 93.7 DPL INC DPL US 2,931.4 (173.0) (496.5) DUN & BRADSTREET DNB1EUR EU 2,162.9 (1,076.9) (85.0) DUN & BRADSTREET DB5 GR 2,162.9 (1,076.9) (85.0) DUN & BRADSTREET DNB US 2,162.9 (1,076.9) (85.0) DUNKIN' BRANDS G DNKN US 3,130.4 (203.7) 147.1 DUNKIN' BRANDS G 2DB TH 3,130.4 (203.7) 147.1 DUNKIN' BRANDS G DNKNEUR EU 3,130.4 (203.7) 147.1 DUNKIN' BRANDS G 2DB GR 3,130.4 (203.7) 147.1 DURATA THERAPEUT DRTX US 82.1 (16.1) 11.7 DURATA THERAPEUT DRTXEUR EU 82.1 (16.1) 11.7 DURATA THERAPEUT DTA GR 82.1 (16.1) 11.7 EASTMAN KODAK CO KODK US 2,042.0 (39.0) 859.0 EASTMAN KODAK CO KODN GR 2,042.0 (39.0) 859.0 EDGEN GROUP INC EDG US 883.8 (0.8) 409.2 ENERGIZER HOLDIN ENR-WEUR EU 1,596.8 (2.8) 655.7 ENERGIZER HOLDIN EGG GR 1,596.8 (2.8) 655.7 ENERGIZER HOLDIN ENR US 1,596.8 (2.8) 655.7 EPL OIL & GAS IN EPL US 463.6 (1,080.5) (1,301.7) EPL OIL & GAS IN EPA1 GR 463.6 (1,080.5) (1,301.7) ERIN ENERGY CORP ERN SJ 349.0 (159.2) (257.2) EVERBRIDGE INC 2E7 GR 48.9 (20.9) (28.6) EVERBRIDGE INC EVBG US 48.9 (20.9) (28.6) EXELIXIS INC EX9 GR 477.1 (186.1) 160.6 EXELIXIS INC EXELEUR EU 477.1 (186.1) 160.6 EXELIXIS INC EXEL US 477.1 (186.1) 160.6 EXELIXIS INC EX9 TH 477.1 (186.1) 160.6 EXELIXIS INC EX9 QT 477.1 (186.1) 160.6 FAIRMOUNT SANTRO FMSAEUR EU 1,109.1 (159.6) 147.3 FAIRMOUNT SANTRO FM1 GR 1,109.1 (159.6) 147.3 FAIRMOUNT SANTRO FMSA US 1,109.1 (159.6) 147.3 FAIRPOINT COMMUN FRP US 1,279.3 (23.7) 9.7 FAIRPOINT COMMUN FONN GR 1,279.3 (23.7) 9.7 FIFTH STREET ASS FSAM US 166.3 (11.1) - FORESIGHT ENERGY FELP US 1,746.6 (45.9) (1,325.6) FORESIGHT ENERGY FHR GR 1,746.6 (45.9) (1,325.6) FREESCALE SEMICO FSL US 3,159.0 (3,079.0) 1,264.0 FREESCALE SEMICO 1FS QT 3,159.0 (3,079.0) 1,264.0 FREESCALE SEMICO 1FS GR 3,159.0 (3,079.0) 1,264.0 FREESCALE SEMICO FSLEUR EU 3,159.0 (3,079.0) 1,264.0 FREESCALE SEMICO 1FS TH 3,159.0 (3,079.0) 1,264.0 GAMCO INVESTO-A GBL US 113.9 (223.5) - GARDA WRLD -CL A GW CN 1,842.9 (396.1) 105.2 GARTNER INC GGRA GR 2,304.5 (52.8) (153.6) GARTNER INC IT* MM 2,304.5 (52.8) (153.6) GARTNER INC IT US 2,304.5 (52.8) (153.6) GCP APPLIED TECH 43G GR 1,034.5 (149.7) 254.9 GCP APPLIED TECH GCP US 1,034.5 (149.7) 254.9 GENTIVA HEALTH GHT GR 1,225.2 (285.2) 130.0 GENTIVA HEALTH GTIV US 1,225.2 (285.2) 130.0 GLG PARTNERS INC GLG US 400.0 (285.6) 156.9 GLG PARTNERS-UTS GLG/U US 400.0 (285.6) 156.9 GRAHAM PACKAGING GRM US 2,947.5 (520.8) 298.5 GUIDANCE SOFTWAR GUID US 71.8 (1.7) (22.1) GUIDANCE SOFTWAR ZTT GR 71.8 (1.7) (22.1) GYMBOREE CORP/TH GYMB US 1,162.6 (309.2) 28.7 HALCON RESOURCES HK US 2,453.8 (672.6) (2,780.0) HALCON RESOURCES HKEUR EU 2,453.8 (672.6) (2,780.0) HALCON RESOURCES RAQK GR 2,453.8 (672.6) (2,780.0) HCA HOLDINGS INC 2BH GR 33,205.0 (6,498.0) 3,699.0 HCA HOLDINGS INC HCAEUR EU 33,205.0 (6,498.0) 3,699.0 HCA HOLDINGS INC HCA US 33,205.0 (6,498.0) 3,699.0 HCA HOLDINGS INC 2BH TH 33,205.0 (6,498.0) 3,699.0 HECKMANN CORP-U HEK/U US 421.9 (75.1) (51.4) HEWLETT-PACKA-WI HPQ-W US 27,224.0 (3,926.0) (712.0) HOVNANIAN-A-WI HOV-W US 2,388.8 (151.9) 1,377.8 HP COMPANY-BDR HPQB34 BZ 27,224.0 (3,926.0) (712.0) HP INC HPQCHF EU 27,224.0 (3,926.0) (712.0) HP INC HPQ SW 27,224.0 (3,926.0) (712.0) HP INC HPQUSD SW 27,224.0 (3,926.0) (712.0) HP INC HPQ US 27,224.0 (3,926.0) (712.0) HP INC HWP QT 27,224.0 (3,926.0) (712.0) HP INC HPQ TE 27,224.0 (3,926.0) (712.0) HP INC 7HP GR 27,224.0 (3,926.0) (712.0) HP INC 7HP TH 27,224.0 (3,926.0) (712.0) HP INC HPQ CI 27,224.0 (3,926.0) (712.0) HP INC HPQ* MM 27,224.0 (3,926.0) (712.0) HUGHES TELEMATIC HUTCU US 110.2 (101.6) (113.8) IBI GROUP INC IBG CN 257.9 (13.2) 118.6 IDEXX LABS IX1 GR 1,489.2 (8.5) (1.7) IDEXX LABS IX1 TH 1,489.2 (8.5) (1.7) IDEXX LABS IDXX US 1,489.2 (8.5) (1.7) IDEXX LABS IX1 QT 1,489.2 (8.5) (1.7) IMMUNOMEDICS INC IMMU US 57.0 (57.5) 37.5 INFOR ACQUISIT-A IAC/A CN 233.2 (2.7) 1.8 INFOR ACQUISITIO IAC-U CN 233.2 (2.7) 1.8 INFOR US INC LWSN US 6,048.5 (796.8) (226.4) INNOVIVA INC HVE GR 378.1 (363.1) 175.8 INNOVIVA INC INVA US 378.1 (363.1) 175.8 INTERNATIONAL WI ITWG US 325.1 (11.5) 95.4 INTERUPS INC ITUP US 0.0 (0.3) (0.3) INVENTIV HEALTH VTIV US 2,167.0 (791.3) 142.1 IPCS INC IPCS US 559.2 (33.0) 72.1 ISRAMCO INC IRM GR 145.1 (0.9) 14.0 ISRAMCO INC ISRLEUR EU 145.1 (0.9) 14.0 ISRAMCO INC ISRL US 145.1 (0.9) 14.0 ISTA PHARMACEUTI ISTA US 124.7 (64.8) 2.2 J CREW GROUP INC JCG US 1,455.8 (786.1) 86.9 JACK IN THE BOX JACK1EUR EU 1,291.5 (167.5) (85.1) JACK IN THE BOX JBX GR 1,291.5 (167.5) (85.1) JACK IN THE BOX JACK US 1,291.5 (167.5) (85.1) JOEY NEW YORK IN JOEY US 0.1 (4.2) (4.2) JUST ENERGY GROU 1JE GR 1,229.1 (191.7) (118.1) JUST ENERGY GROU JE US 1,229.1 (191.7) (118.1) JUST ENERGY GROU JE CN 1,229.1 (191.7) (118.1) KADMON HOLDINGS KDMN US 45.9 (256.6) (33.4) L BRANDS INC LB US 7,541.0 (1,129.0) 1,141.0 L BRANDS INC LB* MM 7,541.0 (1,129.0) 1,141.0 L BRANDS INC LTD TH 7,541.0 (1,129.0) 1,141.0 L BRANDS INC LTD QT 7,541.0 (1,129.0) 1,141.0 L BRANDS INC LTD GR 7,541.0 (1,129.0) 1,141.0 L BRANDS INC LBEUR EU 7,541.0 (1,129.0) 1,141.0 LANTHEUS HOLDING LNTH US 259.3 (166.4) 78.9 LANTHEUS HOLDING 0L8 GR 259.3 (166.4) 78.9 LEAP WIRELESS LWI GR 4,662.9 (125.1) 346.9 LEAP WIRELESS LEAP US 4,662.9 (125.1) 346.9 LEAP WIRELESS LWI TH 4,662.9 (125.1) 346.9 LEE ENTERPRISES LE7 GR 715.2 (122.1) (24.8) LEE ENTERPRISES LEE1EUR EU 715.2 (122.1) (24.8) LEE ENTERPRISES LEE US 715.2 (122.1) (24.8) LORILLARD INC LLV TH 4,154.0 (2,134.0) 1,135.0 LORILLARD INC LO US 4,154.0 (2,134.0) 1,135.0 LORILLARD INC LLV GR 4,154.0 (2,134.0) 1,135.0 MADISON-A/NEW-WI MSGN-W US 806.5 (1,120.0) 168.7 MANITOWOC FOOD MFS US 1,807.0 (111.1) 19.1 MANITOWOC FOOD 6M6 GR 1,807.0 (111.1) 19.1 MANITOWOC FOOD MFS1EUR EU 1,807.0 (111.1) 19.1 MANNKIND CORP MNKD IT 139.4 (366.6) (198.9) MARRIOTT INTL-A MAQ GR 6,650.0 (3,462.0) (1,285.0) MARRIOTT INTL-A MAQ QT 6,650.0 (3,462.0) (1,285.0) MARRIOTT INTL-A MAQ TH 6,650.0 (3,462.0) (1,285.0) MARRIOTT INTL-A MAR US 6,650.0 (3,462.0) (1,285.0) MCBC HOLDINGS IN MCFT US 82.5 (8.4) (26.3) MCBC HOLDINGS IN 1SG GR 82.5 (8.4) (26.3) MDC COMM-W/I MDZ/W CN 1,616.2 (457.3) (268.2) MDC PARTNERS-A MDCAEUR EU 1,616.2 (457.3) (268.2) MDC PARTNERS-A MDZ/A CN 1,616.2 (457.3) (268.2) MDC PARTNERS-A MDCA US 1,616.2 (457.3) (268.2) MDC PARTNERS-EXC MDZ/N CN 1,616.2 (457.3) (268.2) MEAD JOHNSON MJN US 4,028.6 (519.4) 1,459.4 MEAD JOHNSON 0MJA GR 4,028.6 (519.4) 1,459.4 MEAD JOHNSON 0MJA TH 4,028.6 (519.4) 1,459.4 MEAD JOHNSON MJNEUR EU 4,028.6 (519.4) 1,459.4 MEDLEY MANAGE-A MDLY US 107.6 (30.3) 38.7 MERITOR INC AID1 GR 2,084.0 (596.0) 155.0 MERITOR INC MTOREUR EU 2,084.0 (596.0) 155.0 MERITOR INC MTOR US 2,084.0 (596.0) 155.0 MERRIMACK PHARMA MACK US 150.0 (201.6) 28.1 MERRIMACK PHARMA MACKEUR EU 150.0 (201.6) 28.1 MERRIMACK PHARMA MP6 GR 150.0 (201.6) 28.1 MERRIMACK PHARMA MP6 QT 150.0 (201.6) 28.1 MICHAELS COS INC MIK US 2,001.0 (1,707.8) 531.0 MICHAELS COS INC MIM GR 2,001.0 (1,707.8) 531.0 MIDSTATES PETROL MPO1EUR EU 729.3 (1,495.1) 12.9 MONEYGRAM INTERN MGI US 4,290.8 (221.2) (12.5) MOODY'S CORP DUT GR 5,044.9 (369.5) 1,883.7 MOODY'S CORP MCOEUR EU 5,044.9 (369.5) 1,883.7 MOODY'S CORP DUT TH 5,044.9 (369.5) 1,883.7 MOODY'S CORP MCO US 5,044.9 (369.5) 1,883.7 MOTOROLA SOLUTIO MSI US 8,467.0 (678.0) 1,502.0 MOTOROLA SOLUTIO MOT TE 8,467.0 (678.0) 1,502.0 MOTOROLA SOLUTIO MTLA GR 8,467.0 (678.0) 1,502.0 MOTOROLA SOLUTIO MTLA QT 8,467.0 (678.0) 1,502.0 MOTOROLA SOLUTIO MTLA TH 8,467.0 (678.0) 1,502.0 MPG OFFICE TRUST 1052394D US 1,280.0 (437.3) - MSG NETWORKS- A MSGNEUR EU 806.5 (1,120.0) 168.7 MSG NETWORKS- A 1M4 TH 806.5 (1,120.0) 168.7 MSG NETWORKS- A 1M4 GR 806.5 (1,120.0) 168.7 MSG NETWORKS- A MSGN US 806.5 (1,120.0) 168.7 NATHANS FAMOUS NFA GR 77.7 (70.5) 51.9 NATHANS FAMOUS NATH US 77.7 (70.5) 51.9 NATIONAL CINEMED NCMI US 1,045.7 (166.4) 91.5 NATIONAL CINEMED XWM GR 1,045.7 (166.4) 91.5 NAVIDEA BIOPHARM NAVB IT 8.7 (63.9) (55.5) NAVISTAR INTL NAV US 5,719.0 (5,134.0) 239.0 NAVISTAR INTL IHR GR 5,719.0 (5,134.0) 239.0 NAVISTAR INTL IHR QT 5,719.0 (5,134.0) 239.0 NAVISTAR INTL IHR TH 5,719.0 (5,134.0) 239.0 NEFF CORP-CL A NEFF US 681.2 (163.1) 2.3 NEKTAR THERAPEUT ITH GR 463.1 (39.3) 239.0 NEKTAR THERAPEUT NKTR US 463.1 (39.3) 239.0 NEW ENG RLTY-LP NEN US 193.6 (31.2) - NTELOS HOLDINGS NTLS US 611.1 (39.9) 104.9 OCH-ZIFF CAPIT-A 35OA GR 1,375.1 (356.2) - OCH-ZIFF CAPIT-A OZM US 1,375.1 (356.2) - OMEROS CORP OMER US 46.1 (49.0) 18.0 OMEROS CORP 3O8 GR 46.1 (49.0) 18.0 OMEROS CORP OMEREUR EU 46.1 (49.0) 18.0 OMEROS CORP 3O8 TH 46.1 (49.0) 18.0 OMTHERA PHARMACE OMTH US 18.3 (8.5) (12.0) ONCOMED PHARMACE O0M GR 181.9 (43.5) 121.7 ONCOMED PHARMACE OMED US 181.9 (43.5) 121.7 PALM INC PALM US 1,007.2 (6.2) 141.7 PAPA JOHN'S INTL PZZA US 487.2 (9.3) 18.4 PAPA JOHN'S INTL PP1 GR 487.2 (9.3) 18.4 PBF LOGISTICS LP 11P GR 458.6 (128.0) 65.8 PBF LOGISTICS LP PBFX US 458.6 (128.0) 65.8 PENN NATL GAMING PN1 GR 5,142.8 (606.9) (197.8) PENN NATL GAMING PENN US 5,142.8 (606.9) (197.8) PHILIP MORRIS IN PM US 34,802.0 (10,799.0) 3,374.0 PHILIP MORRIS IN PM1 TE 34,802.0 (10,799.0) 3,374.0 PHILIP MORRIS IN PM1EUR EU 34,802.0 (10,799.0) 3,374.0 PHILIP MORRIS IN 4I1 TH 34,802.0 (10,799.0) 3,374.0 PHILIP MORRIS IN 4I1 GR 34,802.0 (10,799.0) 3,374.0 PHILIP MORRIS IN PM FP 34,802.0 (10,799.0) 3,374.0 PHILIP MORRIS IN 4I1 QT 34,802.0 (10,799.0) 3,374.0 PHILIP MORRIS IN PMI EB 34,802.0 (10,799.0) 3,374.0 PHILIP MORRIS IN PMI1 IX 34,802.0 (10,799.0) 3,374.0 PHILIP MORRIS IN PMI SW 34,802.0 (10,799.0) 3,374.0 PHILIP MORRIS IN PM1CHF EU 34,802.0 (10,799.0) 3,374.0 PINNACLE ENTERTA PNK US 3,966.8 (332.9) (106.8) PINNACLE ENTERTA 65P GR 3,966.8 (332.9) (106.8) PLAYBOY ENTERP-A PLA/A US 165.8 (54.4) (16.9) PLAYBOY ENTERP-B PLA US 165.8 (54.4) (16.9) PLY GEM HOLDINGS PG6 GR 1,292.6 (57.6) 280.6 PLY GEM HOLDINGS PGEM US 1,292.6 (57.6) 280.6 POLYMER GROUP-B POLGB US 1,991.4 (3.9) 322.1 PROTECTION ONE PONE US 562.9 (61.8) (7.6) QUALITY DISTRIBU QLTY US 413.0 (22.9) 102.9 QUALITY DISTRIBU QDZ GR 413.0 (22.9) 102.9 QUINTILES TRANSN Q US 3,962.8 (228.7) 836.3 QUINTILES TRANSN QTS GR 3,962.8 (228.7) 836.3 REATA PHARMACE-A RETA US 114.4 (212.1) 52.9 REATA PHARMACE-A 2R3 GR 114.4 (212.1) 52.9 REGAL ENTERTAI-A RGC* MM 2,572.9 (872.3) (86.1) REGAL ENTERTAI-A RGC US 2,572.9 (872.3) (86.1) REGAL ENTERTAI-A RETA GR 2,572.9 (872.3) (86.1) RENAISSANCE LEA RLRN US 57.0 (28.2) (31.4) RENTECH NITROGEN 2RN GR 241.4 (166.3) 12.0 RENTPATH LLC PRM US 208.0 (91.7) 3.6 RESOLUTE ENERGY REN US 317.5 (321.8) 15.2 RESOLUTE ENERGY RENEUR EU 317.5 (321.8) 15.2 RESOLUTE ENERGY R21 GR 317.5 (321.8) 15.2 REVLON INC-A RVL1 GR 1,914.8 (561.7) 296.2 REVLON INC-A REV US 1,914.8 (561.7) 296.2 RLJ ACQUISITI-UT RLJAU US 127.7 (14.8) 18.1 ROUNDY'S INC RNDY US 1,095.7 (92.7) 59.7 ROUNDY'S INC 4R1 GR 1,095.7 (92.7) 59.7 RURAL/METRO CORP RURL US 303.7 (92.1) 72.4 RYERSON HOLDING 7RY GR 1,630.0 (112.1) 679.6 RYERSON HOLDING 7RY TH 1,630.0 (112.1) 679.6 RYERSON HOLDING RYI US 1,630.0 (112.1) 679.6 SALLY BEAUTY HOL SBH US 2,091.1 (282.9) 690.6 SALLY BEAUTY HOL S7V GR 2,091.1 (282.9) 690.6 SANCHEZ ENERGY C SN US 1,240.5 (703.2) 288.2 SANCHEZ ENERGY C SN* MM 1,240.5 (703.2) 288.2 SANCHEZ ENERGY C 13S GR 1,240.5 (703.2) 288.2 SANCHEZ ENERGY C 13S TH 1,240.5 (703.2) 288.2 SBA COMM CORP-A SBJ GR 7,436.3 (1,607.6) (513.6) SBA COMM CORP-A SBACEUR EU 7,436.3 (1,607.6) (513.6) SBA COMM CORP-A SBJ TH 7,436.3 (1,607.6) (513.6) SBA COMM CORP-A SBAC US 7,436.3 (1,607.6) (513.6) SCIENTIFIC GAM-A SGMS US 7,465.1 (1,666.9) 491.7 SCIENTIFIC GAM-A TJW GR 7,465.1 (1,666.9) 491.7 SEARS HOLDINGS SEE QT 10,614.0 (2,693.0) 672.0 SEARS HOLDINGS SEE GR 10,614.0 (2,693.0) 672.0 SEARS HOLDINGS SEE TH 10,614.0 (2,693.0) 672.0 SEARS HOLDINGS SHLD US 10,614.0 (2,693.0) 672.0 SILVER SPRING NE 9SI TH 449.4 (12.3) 15.2 SILVER SPRING NE SSNIEUR EU 449.4 (12.3) 15.2 SILVER SPRING NE SSNI US 449.4 (12.3) 15.2 SILVER SPRING NE 9SI GR 449.4 (12.3) 15.2 SIRIUS XM CANADA XSR CN 291.5 (139.8) (175.5) SIRIUS XM CANADA SIICF US 291.5 (139.8) (175.5) SIRIUS XM HOLDIN RDO GR 8,139.8 (775.1) (1,605.5) SIRIUS XM HOLDIN RDO TH 8,139.8 (775.1) (1,605.5) SIRIUS XM HOLDIN SIRI US 8,139.8 (775.1) (1,605.5) SONIC CORP SONC US 679.7 (58.5) 98.7 SONIC CORP SONCEUR EU 679.7 (58.5) 98.7 SONIC CORP SO4 GR 679.7 (58.5) 98.7 SUPERVALU INC SJ1 TH 4,373.0 (383.0) 203.0 SUPERVALU INC SJ1 GR 4,373.0 (383.0) 203.0 SUPERVALU INC SVU* MM 4,373.0 (383.0) 203.0 SUPERVALU INC SVU US 4,373.0 (383.0) 203.0 TAILORED BRANDS TLRD US 2,184.6 (88.7) 719.8 TAILORED BRANDS WRMA GR 2,184.6 (88.7) 719.8 TAILORED BRANDS TLRD* MM 2,184.6 (88.7) 719.8 TAUBMAN CENTERS TCO US 3,786.8 (36.5) - TAUBMAN CENTERS TU8 GR 3,786.8 (36.5) - TRANSDIGM GROUP TDGEUR EU 10,570.5 (808.2) 2,204.8 TRANSDIGM GROUP T7D GR 10,570.5 (808.2) 2,204.8 TRANSDIGM GROUP T7D QT 10,570.5 (808.2) 2,204.8 TRANSDIGM GROUP TDGCHF EU 10,570.5 (808.2) 2,204.8 TRANSDIGM GROUP TDG US 10,570.5 (808.2) 2,204.8 TRANSDIGM GROUP TDG SW 10,570.5 (808.2) 2,204.8 ULTRA PETROLEUM UPM GR 1,292.9 (2,996.0) 259.4 ULTRA PETROLEUM UPLEUR EU 1,292.9 (2,996.0) 259.4 ULTRA PETROLEUM UPLMQ US 1,292.9 (2,996.0) 259.4 UNISYS CORP UISCHF EU 2,241.6 (1,273.6) 310.3 UNISYS CORP USY1 TH 2,241.6 (1,273.6) 310.3 UNISYS CORP UIS1 SW 2,241.6 (1,273.6) 310.3 UNISYS CORP UISEUR EU 2,241.6 (1,273.6) 310.3 UNISYS CORP USY1 GR 2,241.6 (1,273.6) 310.3 UNISYS CORP UIS US 2,241.6 (1,273.6) 310.3 VECTOR GROUP LTD VGR US 1,479.5 (175.4) 584.8 VECTOR GROUP LTD VGR QT 1,479.5 (175.4) 584.8 VECTOR GROUP LTD VGR GR 1,479.5 (175.4) 584.8 VENOCO INC VQ US 295.3 (483.7) (509.8) VERISIGN INC VRS GR 2,314.2 (1,127.3) 468.5 VERISIGN INC VRSN US 2,314.2 (1,127.3) 468.5 VERISIGN INC VRS TH 2,314.2 (1,127.3) 468.5 VERIZON TELEMATI HUTC US 110.2 (101.6) (113.8) VERSO CORP - A VRS US 2,523.0 (1,302.0) 57.0 VIEWRAY INC VRAY US 47.9 (31.1) 2.8 VIRGIN MOBILE-A VM US 307.4 (244.2) (138.3) WEIGHT WATCHERS WW6 GR 1,265.8 (1,266.4) (146.1) WEIGHT WATCHERS WTWEUR EU 1,265.8 (1,266.4) (146.1) WEIGHT WATCHERS WTW US 1,265.8 (1,266.4) (146.1) WEIGHT WATCHERS WW6 TH 1,265.8 (1,266.4) (146.1) WEST CORP WSTC US 3,546.6 (522.4) 269.5 WEST CORP WT2 GR 3,546.6 (522.4) 269.5 WESTMORELAND COA WLB US 1,743.2 (573.1) (41.5) WINGSTOP INC EWG GR 116.8 (0.1) 6.7 WINGSTOP INC WING US 116.8 (0.1) 6.7 WINMARK CORP GBZ GR 42.8 (21.9) 13.6 WINMARK CORP WINA US 42.8 (21.9) 13.6 YRC WORLDWIDE IN YEL1 GR 1,886.0 (359.8) 271.7 YRC WORLDWIDE IN YRCW US 1,886.0 (359.8) 271.7 YRC WORLDWIDE IN YEL1 TH 1,886.0 (359.8) 271.7 YRC WORLDWIDE IN YRCWEUR EU 1,886.0 (359.8) 271.7 YUM! BRANDS INC YUM US 8,184.0 (331.0) (400.0) YUM! BRANDS INC TGR QT 8,184.0 (331.0) (400.0) YUM! BRANDS INC TGR GR 8,184.0 (331.0) (400.0) YUM! BRANDS INC YUM SW 8,184.0 (331.0) (400.0) YUM! BRANDS INC YUMEUR EU 8,184.0 (331.0) (400.0) YUM! BRANDS INC YUMCHF EU 8,184.0 (331.0) (400.0) YUM! BRANDS INC YUMUSD SW 8,184.0 (331.0) (400.0) YUM! BRANDS INC TGR TH 8,184.0 (331.0) (400.0) ZIOPHARM ONCOLOG ZIOPEUR EU 128.0 (52.0) 110.7 ZIOPHARM ONCOLOG ZIOP US 128.0 (52.0) 110.7 ZIOPHARM ONCOLOG WEK TH 128.0 (52.0) 110.7 ZIOPHARM ONCOLOG WEK GR 128.0 (52.0) 110.7 ********* Monday's edition of the TCR delivers a list of indicative prices for bond issues that reportedly trade well below par. Prices are obtained by TCR editors from a variety of outside sources during the prior week we think are reliable. Those sources may not, however, be complete or accurate. The Monday Bond Pricing table is compiled on the Friday prior to publication. Prices reported are not intended to reflect actual trades. Prices for actual trades are probably different. Our objective is to share information, not make markets in publicly traded securities. Nothing in the TCR constitutes an offer or solicitation to buy or sell any security of any kind. It is likely that some entity affiliated with a TCR editor holds some position in the issuers public debt and equity securities about which we report. Each Tuesday edition of the TCR contains a list of companies with insolvent balance sheets whose shares trade higher than $3 per share in public markets. At first glance, this list may look like the definitive compilation of stocks that are ideal to sell short. Don't be fooled. Assets, for example, reported at historical cost net of depreciation may understate the true value of a firm's assets. A company may establish reserves on its balance sheet for liabilities that may never materialize. The prices at which equity securities trade in public market are determined by more than a balance sheet solvency test. On Thursdays, the TCR delivers a list of recently filed Chapter 11 cases involving less than $1,000,000 in assets and liabilities delivered to nation's bankruptcy courts. The list includes links to freely downloadable images of these small-dollar petitions in Acrobat PDF format. Each Friday's edition of the TCR includes a review about a book of interest to troubled company professionals. All titles are available at your local bookstore or through Amazon.com. Go to http://www.bankrupt.com/books/to order any title today. Monthly Operating Reports are summarized in every Saturday edition of the TCR. The Sunday TCR delivers securitization rating news from the week then-ending. TCR subscribers have free access to our on-line news archive. Point your Web browser to http://TCRresources.bankrupt.com/and use the e-mail address to which your TCR is delivered to login. ********* S U B S C R I P T I O N I N F O R M A T I O N Troubled Company Reporter is a daily newsletter co-published by Bankruptcy Creditors Service, Inc., Fairless Hills, Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA. Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine Tumanda, Valerie Udtuhan, Howard C. Tolentino, Carmel Paderog, Meriam Fernandez, Joel Anthony G. Lopez, Cecil R. Villacampa, Sheryl Joy P. Olano, Psyche A. Castillon, Ivy B. Magdadaro, Carlo Fernandez, Christopher G. Patalinghug, and Peter A. Chapman, Editors. Copyright 2016. 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 ***