TCR_Public/170826.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Saturday, August 26, 2017, Vol. 21, No. 237

                            Headlines

ARO LIQUIDATION: Lists $2.74 Million Net Income at June 1
CIBER INC: Gains $46.09 Million Net Income in June
VANGUARD NATURAL: Net Loss Widens to $45.43 Million in June

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ARO LIQUIDATION: Lists $2.74 Million Net Income at June 1
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ARO Liquidation, Inc., et. al., filed with the U.S. Securities and
Exchange Commission their monthly operating report for the period
from April 28, 2017 through June 1, 2017.

The Debtors reported a net income of $2.74 million on nil sales for
the reporting period.

As of June 1, 2017, the Debtors posted consolidated total assets of
$378.69 million, consolidated total liabilities of $211.75 million,
and $166.94 million in consolidated total shareholders'
equity.

The Debtors listed $373,000 in total disbursements for the period.

A copy of the monthly operating report is available at the SEC at:

                     https://is.gd/1RAWCf  

                  About ARO Liquidation, Inc.

Aeropostale, Inc. (OTC Pink: AROPQ) is a specialty retailer of
casual apparel and accessories, principally serving young women and
men through its Aeropostale(R) and Aeropostale Factory(TM)
stores and website and 4 to 12 year-olds through its P.S. From
Aeropostale stores and website.  The Company provides customers
with a focused selection of high quality fashion and fashion basic
merchandise at compelling values in an exciting and customer
friendly store environment.  Aeropostale maintains control over its
proprietary brands by designing, sourcing, marketing and selling
all of its own merchandise.  As of May 1, 2016, the Company
operated 739 Aeropostale(R) stores in 50 states and Puerto Rico, 41
Aeropostale stores in Canada and 25 P.S. from Aeropostale(R) stores
in 12 states.  In addition, pursuant to various licensing
agreements, the Company's licensees currently operate 322
Aeropostale(R) and P.S. from Aeropostale(R) locations
in the Middle East, Asia, Europe, and Latin America.  Since
November 2012, Aeropostale, Inc., has operated GoJane.com, an
online women's fashion footwear and apparel retailer.

Aeropostale, Inc., and 10 of its affiliates each filed a voluntary
petition under Chapter 11 of the Bankruptcy Code (Bankr. S.D.N.Y.
Lead Case No. 16-11275) on May 4, 2016.  The petitions were signed
by Marc G. Schubac, senior vice president, general counsel and
secretary.

The Debtors disclosed assets of $354.38 million and total debt of
$390.02 million as of Jan. 30, 2016.

The Debtors hired Weil, Gotshal & Manges LLP as counsel; FTI
Consulting, Inc., as restructuring advisor; Stifel, Nicolaus &
Company, Inc., and Miller Buckfire & Company LLC as investment
bankers; RCS Real Estate Advisors as real estate advisors; Prime
Clerk LLC as claims and noticing agent; Stikeman Elliot LLP as
Canadian counsel; and Togut, Segal & Segal LLP as conflicts
counsel.

Judge Sean H. Lane is assigned to the cases.

The U.S. trustee for Region 2 on May 11, 2016, appointed seven
creditors of Aeropostale Inc. to serve on the official committee of
unsecured creditors.  The Committee retained Pachulski Stang
Ziehl & Jones LLP as counsel.


CIBER INC: Gains $46.09 Million Net Income in June
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CIBER Inc., et. al., filed with the U.S. Securities and Exchange
Commission their monthly operating report for June 2017.

CIBER Inc. reflected a net income of $46.09 million on total
revenues of $5.13 million for June, a swing from $2.68 million net
loss recorded for the previous month.

As of June 30, 2017, CIBER Inc. posted $64.12 million in total
assets, $27.53 million in total liabilities, and $36.59 million in
total shareholders' equity.

At June 1, 2017, the Debtors had $6.75 million cash.  They listed
$140.21 million in total receipts and $35.82 million in total
disbursements.  Taking into consideration other accounts,
the Debtors had $59.71 million cash at June 30.

A copy of the monthly operating report is available for free at the
SEC at https://is.gd/CP6Mvv    

                     About CIBER Inc.
                          
CIBER, Inc. -- http://www.ciber.com/-- is a global information  
technology consulting, services and outsourcing company.  

CIBER, Inc., and two other affiliates sought bankruptcy protection
on April 9, 2017 (Bankr. D. Del. Lead Case No. 17-10772).  The
petition was signed by Christian Mezger, chief financial officer.

The Debtors disclosed total assets of $334.2 million and total
liabilities of $171.9 million as of Sept. 30, 2016.

The Hon. Brendan Linehan Shannon presides over the case.  

Morrison & Foerster LLP is the Debtors' lead bankruptcy counsel.
Polsinelli, PC, serves as co-counsel while Saul Ewing LLP serves as
local counsel.  The Debtors also hired Houlihan Lokey as investment
banker and financial advisor; Alvarez & Marsal North America, LLC,
as restructuring advisor; and Prime Clerk LLC as noticing and
claims agent.

An official committee of unsecured creditors has been appointed in
the Chapter 11 case.  The committee hired Perkins Coie, LLP as
bankruptcy counsel; Shaw Fishman Glantz & Towbin LLC as co-counsel;
and BDO Consulting as financial advisor.


VANGUARD NATURAL: Net Loss Widens to $45.43 Million in June
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Vanguard Natural Resources, LLC, et al., filed with the U.S.
Securities and Exchange Commission their monthly operating report
for June 2017.

The Debtors' statement of operations showed a net loss of $45.43
million on revenues of $41.33 million for June, an increase
compared to $6.80 million net loss reported for May.

As of June 30, 2017, the Debtors recorded total assets of $1.29
billion, total liabilities of $2.25 billion, and total
shareholders' equity of -$963.85 million.

The Debtors started the month with $170.44 million cash.  They
listed total cash receipts of $58.78 million and total
disbursements of $61.16 million.  Disbursements include $4.15
million in Professional Fees.  At month end, the Debtors had
$168.05 million cash.

A copy of the monthly operating report is available at the SEC at:

                    https://is.gd/hv5Jh3     

               About Vanguard Natural Resources

Vanguard Natural Resources, LLC (OTC: VNRSQ) --
http://www.vnrllc.com/-- is a publicly traded limited liability   
company focused on the acquisition, production and development of
oil and natural gas properties.  Vanguard's assets consist
primarily of producing and non-producing oil and natural gas
reserves located in the Green River Basin in Wyoming, the Permian
Basin in West Texas and New Mexico, the Gulf Coast Basin in Texas,
Louisiana, Mississippi and Alabama, the Anadarko Basin in Oklahoma
and North Texas, the Piceance Basin in Colorado, the Big Horn Basin
in Wyoming and Montana, the Arkoma Basin in Arkansas and Oklahoma,
the Williston Basin in North Dakota and Montana, the Wind River
Basin in Wyoming, and the Powder River Basin in Wyoming.

Vanguard Natural Resources, LLC, and certain subsidiaries filed
voluntary petitions for relief under Chapter 11 of the Bankruptcy
Code (Bankr. S.D. Tex. Lead Case No. 17-30560) on Feb. 2,  2017.
The Chapter 11 cases are assigned to the Hon. Judge Marvin Isgur.

The Debtors listed total assets of $1.54 billion and total debt of
$2.3 billion as of Feb. 1, 2017.

Paul Hastings LLP is serving as legal counsel and Evercore Partners
is acting as financial advisor to Vanguard.  Opportune LLP is the
Company's restructuring advisor.  Prime Clerk LLC is serving as
claims and noticing agent.

Judy R. Robbins, the U.S. Trustee for Region 7, on Feb. 14, 2017,
appointed three creditors to serve on the official committee of
unsecured creditors appointed in the Debtor's case.  The Committee
hired Akin Gump Strauss Hauer & Feld LLP as counsel and FTI
Consulting, Inc., as financial advisor.

The Company on March 16, 2017, filed a motion with the Bankruptcy
Court disclosing a Stipulation and Agreed Order entered into on
March 15, 2017, by and between the Debtors and certain
Unaffiliated holders of its Preferred Units and common units
pursuant to which the Debtors and the Ad Hoc Equity Committee
agreed, among other things, that professionals for the Ad Hoc
Equity Committee would be funded by the Debtors' estates for
services performed within a defined scope and subject to agreed
caps on fees and expenses as described in the Stipulation and
Agreed Order.

Counsel to the Ad Hoc Equity Committee are Sharon M. Beausoleil,
Esq., Alexander Chae, Esq., and Holland N. O'Neil, Esq., at
Gardere Wynne Sewell LLP.

Attorneys for Citibank, N.A, as administrative agent under the
Third Amended and Restated Credit Agreement, dated as of Sept. 30,
2011, are Chris Lopez, Esq., Stephen Karotkin, Esq., and Joseph H.
Smolinsky, Esq., at Weil Gotshal & Manges LLP.


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