/raid1/www/Hosts/bankrupt/TCR_Public/190327.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Wednesday, March 27, 2019, Vol. 23, No. 85

                            Headlines

35 NORTH ELLIOT: Seeks to Hire Ira R. Abel as Legal Counsel
ADETONA LLC: Unsecureds to Recover 35% Paid Monthly Over 14 Years
ARBORSCAPE INC: Plan Confirmation Hearing Set for May 7
ARCIMOTO INC: Has Direct Offering of $3.4 Million Common Stock
ARP FAMILY: Seeks to Hire Ford and Goodman as Accountant

ARP FAMILY: Unsecured Creditors to Recoup 21% Over 8 Years
ATHANASOU LLC: Seeks to Hire Joel M. Aresty as Legal Counsel
ATLANTIC RECYCLING: Plan Outline Hearing Scheduled for May 7
BDF ACQUISITION: S&P Alters Outlook to Stable, Affirms 'B' ICR
BEARCAT ENERGY: Trustee Hires Brownstein Hyatt as Attorney

BROOKSTONE HOLDINGS: Plan Adds Info on Liquidating Trust Assets
CAFFE VALDINO: Hires Richard Byron as Attorney
CALMARE THERAPEUTICS: Gets 2 Favorable Rulings in Delaware Court
CHERRY BROS: April 1 Meeting Set to Form Creditors' Panel
COCRYSTAL PHARMA: Amends Distribution Agreement with AGP

DECOR HOLDINGS: U.S. Trustee Forms 2-Member Committee
DITECH HOLDING: Proposes $2.5MM Incentives for 31 Employees
DJJ ENTERPRISES: Hires Larson Zirzow as Bankruptcy Counsel
DURA AUTOMOTIVE: S&P Assigns 'B' ICR, Outlook Stable
EDU-LINK CONSULTING: Seeks to Hire Jae Y. Kim as Legal Counsel

EIGHT ZERO EIGHT: Seeks to Hire Gleichenhaus as Legal Counsel
EP ENERGY: Giljoon Sinn Resigns as Director
EQUINIX INC: Moody's Hikes CFR & Sr. Unsecured Rating to 'Ba2'
EQUITRANS MIDSTREAM: S&P Raises Sr. Sec. Term Loan B Rating to BB+
ERC FINANCE: S&P Rates New Delayed Draw Term Loan 'B-'

FLORIDA CLEANEX: Seeks to Hire Kelley Fulton as Legal Counsel
GIGA-TRONICS INC: Removes 'Interim' From CFO's Title
GREENHILL & CO: Moody's Affirms 'Ba2' CFR & Sr. Secured Ratings
GRINDING MEDIA: Moody's Cuts CFR & Senior Secured Notes to 'B3'
GUIDED SYSTEMS: Taps Geiger Law as Legal Counsel

HELIOS AND MATHESON: Raises $6 Million in New Round of Financing
HUMANIGEN INC: Incurs $12 Million Net Loss in 2018
IEA ENERGY: Moody's Cuts CFR to Caa2 & Alters Outlook to Negative
INPIXON: Reports Q4 & 2018 Results and Provides Corporate Update
INPRINT MANAGEMENT: Term of Plan Amended to Two Years

INSYS THERAPEUTICS: Incurs $124.5 Million Net Loss in 2018
JLAN PROPERTIES: May 14 Plan Confirmation Hearing
KEY GOLF: Seeks to Hire Craig Dwyer as Bankruptcy Attorney
LASV INC: Seeks to Hire Eugene D. Roth as Legal Counsel
LIGHTHOUSE HOSPITALITY: Seeks to Hire Coan Lewendon as Counsel

LINDEN CAB: Case Summary & 10 Unsecured Creditors
MDC PARTNERS: Moody's Cuts CFR to B3 & Affirms B3 for $900MM Notes
MESOBLAST LIMITED: Appoints Joseph Swedish as Chairman
MESOBLAST LIMITED: Licensee Files for Marketing Approval of TEMCELL
METWOOD INC: Turner, Stone & Company Raises Going Concern Doubt

MP&K LAND: Seeks to Hire Eron Law as Legal Counsel
MUELLER BROS.: Case Summary & 20 Largest Unsecured Creditors
NEIMAN MARCUS: Reaches Agreement to Extend Debt Maturities
NEON HOLDINGS: Moody's Assigns B2 CFR, Outlook Stable
NINE WEST: Emerges From Bankruptcy as Premier Brands

NORDAM GROUP: S&P Assigns B+ Issuer Credit Rating, Outlook Stable
OCALA INN: Seeks to Hire Mickler & Mickler as Legal Counsel
OCEAN SPRAY: Fitch Affirms BB on $150MM Series A Preferred Stock
PEN INC: Ronald Berman Owns 6% of Class A Shares as of March 22
PENINSULA RESEARCH: May 23 Evidentiary Hearing on Plan, Disclosures

PG&E CORPORATION: Seeks to Hire Keller & Benvenutti as Co-Counsel
PG&E CORPORATION: Seeks to Hire Weil Gotshal as Attorney
PG&E CORPORATION: Taps Mr. Mesterharm of AP Services as CRO
PIER 1 IMPORTS: Moody's Cuts CFR to Caa3 & Term Loan Rating to Ca
PURADYN FILTER: Incurs $216,382 Net Loss in 2018

QUITMAN COUNTY: Seeks to Hire Craig M. Geno as Attorney
REALOGY GROUP: Moody's Rates Sr. Unsecured Notes Due 2027 'B2'
SADDY FAMILY: Seeks to Hire Eugene D. Roth as Legal Counsel
SALLY BEAUTY: S&P Alters Outlook to Stable, Affirms 'BB-' ICR
SALLY WILLIAMSON: Case Summary & 8 Unsecured Creditors

SCOTTSBURG HOSPITALITY: Secured Creditor Seeks Rejection of Plan
SEITEL INC.: Moody's Withdraws Caa2 CFR on Rated Debt Refinancing
SIMKAR LLC: U.S. Trustee Forms 2-Member Committee
SJV INC: Seeks to Hire Eugene D. Roth as Legal Counsel
SLANE MARINE: Files Amended Plan With Immaterial Modifications

ST. MARKS ENTERPRISES: Seeks to Hire Richard Byron as Counsel
SUNCOR ENERGY: Moody's Hikes CFR & Sr. Unsecured Ratings to 'Ba1'
TALEN ENERGY: S&P Affirms 'B+' ICR on Debt Pay-Down, Outlook Neg.
TARA RETAIL: Kroger Objects to Modified 1st Amended Plan Outline
TCMA TRUCKING: Case Summary & 16 Unsecured Creditors

TIVO CORP: S&P Cuts Issuer Credit Rating to 'B+', Outlook Stable
TRIDENT HOLDING: Seeks to Hire BDO USA as Tax Advisor
ULTRA RESOURCES: Moody's Rates 2nd Lien Notes Due 2024 'Caa2'
VBAR 3 LLC: Seeks to Hire Richard Byron as Counsel
WING PALACE: Plan and Disclosures Hearing Set for April 18

WOODFORD EXPRESS: S&P Alters Outlook to Positive, Affirms 'B' ICR

                            *********

35 NORTH ELLIOT: Seeks to Hire Ira R. Abel as Legal Counsel
-----------------------------------------------------------
35 North Elliot LLC seeks approval from the U.S. Bankruptcy Court
for the Eastern District of New York to hire the Law Office of Ira
R. Abel as its legal counsel.

The firm will advise the Debtor of its powers and duties under the
Bankruptcy Code; assist in the preparation of a plan of
reorganization; and provide other legal services in connection with
its Chapter 11 case.

The firm will be paid at these hourly rates:

     Partners           $420
     Associates     $250 - $350
     Counsel        $250 - $350

Ira Abel, Esq., the attorney who will be handling the case, charges
an hourly fee of $420.

The firm does not hold any interest adverse to the Debtor,
creditors or other "parties in interest," according to court
filings.

The firm can be reached through:

     Ira R. Abel, Esq.
     Law Office of Ira R. Abel
     305 Broadway, 14th Floor
     New York, NY 10007
     Phone: (212) 799-4672
     Email: iraabel@verizon.net  

                     About 35 North Elliot

35 North Elliot LLC sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. E.D.N.Y. Case No. 19-40338) on Jan. 18,
2019.  At the time of the filing, the Debtor had estimated assets
of less than $100,000 and liabilities of less than $1 million.  The
case is assigned to Judge Elizabeth S. Stong.  The Law Office of
Ira R. Abel is the Debtor's counsel.



ADETONA LLC: Unsecureds to Recover 35% Paid Monthly Over 14 Years
-----------------------------------------------------------------
Adetona, LLC, filed with the U.S. Bankruptcy Court for the Western
District of Texas a disclosure statement describing its plan of
reorganization dated March 15, 2019.

General unsecured creditors under the plan are classified in Class
9, and will receive a distribution of approximately 35% of their
allowed claims to be distributed monthly over approximately 14
years in monthly installments of $500.

The plan is based upon the distribution to the creditors by the
Debtor, at its option, by means of or more of the following: cash
presently held by the Debtor and cash to be acquired through the
operation of its business; collection of accounts receivable; sale
of the Debtor's assets, loans; and contributions by Dr. Olutola
Adetona (he will contribute $50,000 during the life of the plan –
this may in whole or in part take the form of credit for payments
made by him and/or his wife’s practices to other creditors of the
Debtor).

A copy of the Disclosure Statement dated March 15, 2019 is
available at http://tinyurl.com/y28976hxfrom Pacermonitor.com at
no charge.

Counsel for the Debtor:

     Martin Seidler
     Law Offices of Martin Seidler
     11107 Wurzbach Road, Suite 504
     San Antonio, Texas 78230
     (210) 694-0300
     (210) 690-9886
     Marty@seidlerlaw.com

                     About Adetona, LLC

Adetona, LLC filed as a Single Asset Real Estate Debtor (as defined
in 11 U.S.C. Section 101(51B)).

Based in San Antonio, Texas, Adetona, LLC, filed a petition for
relief under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Tex.
Case No. 18-52099) on September 3, 2018.  The petition was signed
by Olutola Adetona, managing member.

The case is assigned to Judge Ronald B. King.  Martin Warren
Seidler, Esq. at the Law Offices of Martin Seidler represents the
Debtor as counsel.

At the time of filing, the Debtor estimates $2,500,110 in assets
and $2,745,813 in liabilities.


ARBORSCAPE INC: Plan Confirmation Hearing Set for May 7
-------------------------------------------------------
Bankruptcy Judge Joseph G. Rosania, Jr. issued an order approving
ArborScape, Inc.'s amended disclosure statement in support of its
chapter 11 plan of reorganization dated March 18, 2019.

Ballots for acceptance or rejection of the amended plan and
objections to confirmation of the amended plan must be filed on or
before April 23, 2019.

The hearing for consideration of confirmation of the amended plan
will be held on May 7, 2019  at 11:00 a.m.

                 About Arborscape, Inc.

ArborScape, Inc., is a Colorado-based company dedicated to
providing sustainable landscapes for its clients by promoting the
art and science of horticulture using environmentally friendly
products and services.  It offers tree trimming and removal
services, tree spraying, lawn and tree care services.  The company
was founded in 1995.

ArborScape sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. D. Colo. Case No. 18-12660) on April 3, 2018.  In the
petition signed by David Merriman, president, the Debtor disclosed
$1.63 million in assets and $1.54 million in liabilities.  Judge
Joseph G. Rosania Jr. oversees the case.  Kutner Brinen, P.C., is
the Debtor's counsel.


ARCIMOTO INC: Has Direct Offering of $3.4 Million Common Stock
--------------------------------------------------------------
Arcimoto, Inc., has entered into a securities purchase agreement
with a single institutional investor to sell 800,000 shares at the
offering price of $4.25 per share for expected gross proceeds of
$3.4 million.  The closing of the offering is expected to occur on
March 26, subject to the satisfaction of customary closing
conditions.  Chardan acted as a financial advisor for the
transaction.

"The problem -- and opportunity -- we face is massive: to transform
a transportation system bogged down by oversized, expensive,
polluting vehicles that take up too much space, are difficult to
park, contribute to congestion, and, for the vast majority of
journeys, carry only one or two people and a relatively small
amount of stuff," said Mark Frohnmayer, founder and president of
Arcimoto.

"At Arcimoto, we're creating better tools for the job of everyday
driving, purpose-built for the vast majority of vehicle trips at a
fraction of the overall cost and environmental footprint of today's
cars.  With our first retail customer deliveries planned for this
June, we are encouraged by the continued support of institutional
investors who share in our vision."

The shares of common stock are being offered by Arcimoto pursuant
to a shelf registration statement previously filed on Oct. 3, 2018,
and declared effective by the Securities and Exchange Commission on

Oct. 17, 2018.  The offering of the shares of common stock will be
made only by means of a prospectus supplement that forms a part of
the registration statement.  A final prospectus supplement and
accompanying prospectus relating to the offering will be filed with
the SEC.  Copies of the final prospectus supplement and
accompanying base prospectus may be obtained, when available, on
the SEC's website at http://www.sec.gov.

                          Arcimoto, Inc.

Headquartered in Eugene, Oregon, Arcimoto, Inc. (NASDAQ: FUV) --
http://www.arcimoto.com/-- is devising new technologies and
patterns of mobility that together raise the bar for environmental
efficiency, footprint and affordability.  Available for pre-order
today, Arcimoto's Fun Utility Vehicle, Rapid Responder, and
Deliverator are some of the lightest, most affordable, and most
appropriate electric vehicles suitable for everyday transport.

The report from the Company's independent accounting firm
DBBMckennon, the Company's auditor since 2016, on the consolidated
financial statements for the year ended Dec. 31, 2017, includes an
explanatory paragraph stating that the Company has suffered
recurring losses from operations and has earned limited revenues
from its intended operations, which raises substantial doubt about
its ability to continue as a going concern.

Arcimoto incurred a net loss of $3.31 million in 2017 and a net
loss of $1.91 million in 2016.  As of Sept. 30, 2018, the Company
had $11.81 million in total assets, $3.08 million in total
liabilities, and $8.72 million in total stockholders' equity.


ARP FAMILY: Seeks to Hire Ford and Goodman as Accountant
--------------------------------------------------------
ARP Family Farms, G.P., and its debtor-affiliates seek authority
from the U.S. Bankruptcy Court for the District of Arizona to
employ Ford and Goodman, P.C., as accountant to the Debtor.

ARP Family requires Ford and Goodman to:

   -- prepare the Debtor's annual corporation tax return;

   -- prepare the Debtor's franchise tax returns; and

   -- provide other accounting services, if requested by the
      Debtor.

Ford and Goodman will be paid a fee of $1,500-$2,000 for the
preparation of the Debtor's annual corporation tax return; A fee of
$165-$350 for the preparation of the Debtor's franchise tax return.
For financial and tax consulting, or other accounting services, an
hourly rate of $75-$165.

Ford and Goodman will also be reimbursed for reasonable
out-of-pocket expenses incurred.

William E. Goodman, partner of Ford and Goodman, P.C., 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.

Ford and Goodman can be reached at:

     William E. Goodman
     FORD AND GOODMAN, P.C.
     1221 W. Campbell Road, Suite 291
     Richardson, TX 75080
     Tel: (972) 644-0054
     Fax: (972) 644-0055

                   About ARP Family Farms, G.P.

ARP Family Farms G.P. is a privately held company in Chandler,
Arizona that operates in the agricultural industry.

ARP Family Farms, based in Chandler, AZ, filed a Chapter 11
petition (Bankr. D. Ariz. Case No. 18-14173 on Nov. 19, 2018.  In
the petition signed by Nathan Arp, manager, Ephesians 3:20 Farms,
LLC, the Debtor estimated $10 million to $50 million in assets and
liabilities.  The Hon. Daniel P. Collins oversees the case.
Pernell W. McGuire, Esq., at Davis Miles McGuire Gardner, PLLC,
serves as bankruptcy counsel to the Debtor.



ARP FAMILY: Unsecured Creditors to Recoup 21% Over 8 Years
----------------------------------------------------------
Arp Family Farms, GP, and Arp Custom Farming, LLC, filed a
disclosure statement in support of their joint plan of
reorganization.

Class 13 under the plan Class 13 consists of the Allowed General
Unsecured Claims of the Debtors in the approximate amount of $3.2
million. Debtors will make quarterly distributions to Class 13
Allowed General Unsecured Claims over a period of eight years
beginning on the Effective Date. Debtors estimate that total
distributions to Allowed Class 13 Claimants will be approximately
$676,559 (which is 21% of the total claims). In the event Great
Western Bank makes an 1111(b) election, Allowed Class 13 Claimants
will still receive total distributions of $676,559, but these
distributions could be made in less than 8 years. Class 13 is
impaired.

The Debtors' business operations and eventual plan payments will be
funded by the income generated by the Farm. In addition, Nathan and
Ashley Arp will make a new value contribution of no less than
$200,000. The Debtors reserve the right to supplement funding from
advances from suppliers in the ordinary course of the Debtors’
business, equity contributions, as necessary, and potentially from
exit financing.

Based on their 15-year income and expense projections, the Debtors
anticipate that on a monthly basis they will generate more than
enough income to meet their payment obligations over the course of
the Plan. The projections were prepared based on historical and
current financial information, as well as reasonable assumptions
regarding future economic conditions in Arizona and in the alfalfa
business. The projections should assist creditors in understanding
the difficult financial considerations and issue the Debtors face
in this reorganization. The Debtors believe these projections
demonstrate the feasibility of the Plan.

A copy of the Disclosure Statement is available at
http://tinyurl.com/y2un9m3ofrom Pacermonitor.com at no charge.  

Attorneys for Debtors:

     Pernell W. McGuire, Esq.
     M. Preston Gardner, Esq.
     Davis Miles McGuire Gardner, PLLC,
     40 E. Rio Salado Pkwy., Suite 425
     Tempe, AZ 85281
     Telephone: (480) 733-6800
     Fax: (480) 733-3748
     efile.dockets@davismiles.com

                   About ARP Family Farms

ARP Family Farms G.P. is a privately held company in Chandler,
Arizona that operates in the agricultural industry.

ARP Family Farms, based in Chandler, AZ, filed a Chapter 11
petition (Bankr. D. Ariz. Case No. 18-14173 on Nov. 19, 2018.  In
the petition signed by Nathan Arp, manager, Ephesians 3:20 Farms,
LLC, the Debtor estimated $10 million to $50 million in assets and
liabilities.  The Hon. Daniel P. Collins presides over the case.
Pernell W. McGuire, Esq., at Davis Miles McGuire Gardner, PLLC,
serves as bankruptcy counsel.


ATHANASOU LLC: Seeks to Hire Joel M. Aresty as Legal Counsel
------------------------------------------------------------
Athanasou LLC seeks approval from the U.S. Bankruptcy Court for the
Southern District of Florida to hire Joel M. Aresty, P.A., as its
legal counsel.

The firm will advise the Debtor of its powers and duties under the
Bankruptcy Code; represent the Debtor in negotiation with its
creditors in the preparation of a bankruptcy plan; and provide
other legal services in connection with its Chapter 11 case.

Joel  Aresty, Esq., disclosed in a court filing that he and his
firm do not represent any interest adverse to the Debtor and its
bankruptcy estate.

The firm can be reached through:

     Joel M. Aresty, Esq.
     Joel M. Aresty, P.A.
     309 1st Ave.  S.     
     Tierra Verde, FL 33715   
     Phone: 305-904-1903   
     Fax: 800-899-1870   
     Email: Aresty@Mac.com

                      About Athanasou LLC

Athanasou, LLC, a privately held Florida limited lability company
founded in 2016, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. Fla. Case No. 19-11372) on Jan. 31,
2019.  At the time of the filing, the Debtor had estimated assets
of $1 million to $10 million and liabilities of $1 million to $10
million.  The case is assigned to Judge Laurel M. Isicoff.  Joel M.
Aresty, P.A., is the Debtor's legal counsel.



ATLANTIC RECYCLING: Plan Outline Hearing Scheduled for May 7
------------------------------------------------------------
Bankruptcy Judge Christine M. Gravelle will convene a hearing on
May 7, 2019 at 2:00 p.m. to consider the adequacy of the disclosure
statement filed by Atlantic Recycling Group, LLC.

Written objections to the adequacy of the Disclosure Statement must
be filed no later than 14 days prior to the hearing.

General Unsecured Claims, classified in Class 4 with a total amount
of $244,283.75, are impaired and will be paid in the amount of
$244,283.75 over a 24-month term in monthly payments of $10,178.49
commencing with the month subsequent to the Effective Date.

The Plan will be funded by the income derived from future income
from operation of the business.

A full-text copy of the Disclosure Statement is available for free
at https://tinyurl.com/yyfsnr4f from PacerMonitor.com at no
charge.

           About Atlantic Recycling Group

Atlantic Recycling Group, LLC filed a Chapter 11 bankruptcy
petition (Bankr. D.N.J. Case No. 18-34559) on Dec. 14, 2018,
listing under $1 million in both assets and liabilities. The Debtor
hired the Law Office of Eugene D. Roth as its legal counsel.


BDF ACQUISITION: S&P Alters Outlook to Stable, Affirms 'B' ICR
--------------------------------------------------------------
S&P Global Ratings revised the outlook on U.S.–based specialty
furniture retailer Bob's Discount Furniture (BDF) to stable from
negative and affirmed the 'B' issuer credit rating.

The outlook revision reflects improved same-store sales performance
and S&P's view that the company will continue to enhance execution
of its high-growth strategy in the next 12 months. The revision
also reflects S&P's view that BDF will continue to absorb tariffs
on imported Chinese goods with minimal impacts on operating
margins, namely through its inventory management strategy. S&P
anticipates leverage will remain around high-4x, and continue to
view the company's financial policy as aggressive given Bain
Capital's ownership of BDF.

The stable outlook reflects S&P's expectation that BDF will
continue to aggressively grow its stores while maintaining margins
at current levels and generating flat to slightly positive
same-store sales. Under this scenario, S&P forecasts leverage will
remain in the high-4x area.

S&P would lower the rating on BDF if it expects leverage to
increase and remain well above 6x. This could occur if same-store
sales are meaningfully negative and margins decline by 400 bps,
possibly because of execution issues at new stores, increased
competition from online players, or a weaker macroeconomic
environment that meaningfully reduces consumers' discretionary
spending.

"An upgrade would be contingent on our view that the company has a
more conservative financial policy that is consistent with a higher
rating. This would likely require confidence the company would not
leverage up for debt-funded dividends or reduce financial sponsor
ownership," S&P said.

S&P would also consider a higher rating if it expects leverage will
approach and remain in the low-4x range. In one such scenario, this
could occur if the company can generate consistently positive
same-store sales and grow margins by roughly 400 bps from S&P's
base case.  S&P would also consider a higher rating if the company
expands its overall size and scope and increases exposure to
e-commerce, which would make BDF's competitive position stronger in
our view.


BEARCAT ENERGY: Trustee Hires Brownstein Hyatt as Attorney
----------------------------------------------------------
Jeffrey A. Weinman, the Chapter 11 Trustee of Bearcat Energy LLC,
seeks authority from the U.S. Bankruptcy Court for the District of
Colorado to employ Brownstein Hyatt Farber Schreck, LLP, as
attorney to the Trustee.

The Trustee requires Brownstein Hyatt to:

   a. assist the Trustee in all aspects of the current proposed
      sale of the Debtor's assets and a potential auction and
      sale process of the Debtor's assets, including negotiations
      with potential buyers and drafting of applicable agreements
      and motions;

   b. assist the Trustee in investigating, researching and
      analyzing the sale of the Debtor's assets and providing
      services ancillary to this investigation;

   c. assist in the preparation of the Debtor's plan of
      liquidation or reorganization and disclosure statement, if
      applicable;

   d. represent the Trustee in adversary proceedings and
      contested matters related to the Debtor's bankruptcy case;

   e. provide legal advice with respect to the Trustee's rights,
      powers, obligations, and duties as a chapter 11 Trustee;

   f. prepare on behalf of the Trustee all motions, applications,
      answers, orders, reports and papers necessary to the
      prosecution of these bankruptcy cases;

   g. represent the Trustee and rendering such other services as
      may be required during the course of the bankruptcy
      proceedings;

   h. represent the Trustee in all proceedings before the Court
      and in any other judicial or administrative proceeding
      where the rights of the Trustee may be litigated or
      otherwise affected;

   i. advise and consult with the Trustee concerning the
      prosecution of the bankruptcy cases, the estates' assets,
      and the claims of secured, priority and unsecured
      creditors;

   j. investigate pre-petition transactions and prosecuting, if
      appropriate, preference and other avoidance actions or any
      other causes of action held by the estate;

   k. defend, if necessary, any motions, contested matters and
      adversary proceedings, and analyzing and prosecuting any
      objections to claim;

   l. conduct examinations of witnesses, claimants and other
      persons, as appropriate;

   m. assist the Trustee with the negotiation, documentation and
      any necessary Court approval of transactions disposing of
      property of the estate; and

   n. perform all other necessary legal services and provide all
      other necessary legal advice to the Trustee in connection
      with this Chapter 11 case.

Brownstein Hyatt will be paid at these hourly rates:

     Steven E. Abelman, Shareholder          $655
     Samuel A. Schwartz, Shareholder         $735
     Connor H. Shea, Associate               $320
     Sheila Grisham, Paralegal               $315
     Kristina E. Perez, Paralegal            $205

Brownstein Hyatt will also be reimbursed for reasonable
out-of-pocket expenses incurred.

Samuel A. Schwartz, a partner at Brownstein Hyatt Farber Schreck,
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.

Brownstein Hyatt can be reached at:

     Samuel A. Schwartz, Esq.
     BROWNSTEIN HYATT FARBER SCHRECK, LLP
     100 North City Parkway, Suite 1600
     Las Vegas, NV 89106-4614
     Tel: (702) 382-2101
     Fax: (702) 382-8135
     E-mail: saschwartz@bhfs.com

                   About Bearcat Energy LLC

Bearcat Energy LLC, owner of coal bed methane wells, equipment and
related fixtures located in the State of Wyoming, filed a Chapter
11 petition (Bankr. D. Colo. Case No. 17-12011) on March 14, 2017.
In the petition signed by CEO Keith J. Edwards, the Debtor
estimated $0 to $50,000 in assets and $1 million to $10 million in
liabilities as of the bankruptcy filing.

The Hon. Elizabeth E. Brown is the case judge.

Kenneth J. Buechler, Esq., at Buechler & Garber, LLC, serves as
bankruptcy counsel.

An official committee of unsecured creditors has been appointed in
the Debtor's case.


BROOKSTONE HOLDINGS: Plan Adds Info on Liquidating Trust Assets
---------------------------------------------------------------
Brookstone Holdings Corp., Brookstone, Inc., Brookstone Company,
Inc., Brookstone Retail Puerto Rico, Inc., Brookstone International
Holdings, Inc., Brookstone Purchasing, Inc., Brookstone Stores,
Inc., Big Blue Audio LLC, Brookstone Holdings, Inc., and Brookstone
Properties, Inc., and the Official Committee of Unsecured Creditors
filed a Third Amended Joint Plan of Liquidation under Chapter 11
dated March 15, 2019.

This latest filing provides additional information on the
Liquidating Trust Assets. The Liquidating Trust shall consist of
the Liquidating Trust Assets, the Administrative/Priority Claims
Reserve Account, and the Other Secured Claims Reserve Account. On
the Effective Date, as provided in the Implementation Memorandum,
the Debtors shall transfer all of the Liquidating Trust Assets,
Administrative/Priority Claims Reserve Account, and the Other
Secured Claims Reserve Account then held by the Debtors to the
Liquidating Trust free and clear of all liens, claims, and
encumbrances, except to the extent otherwise provided herein. The
transfer of the Liquidating Trust Assets, the
Administrative/Priority Claims Reserve Account, and the Other
Secured Claims Reserve Account to the Liquidating Trust shall not
affect any attorney-client privilege, the work-product privilege,
and any other applicable evidentiary privileges of the Debtors.

A copy of the Third Joint Amended Plan is available at
http://tinyurl.com/y36lwju2from omnimgt.com free of charge.  

                  About Brookstone Holdings

Founded in 1965, Brookstone Holdings Corp. is a U.S.-based product
developer and retailer of wellness, entertainment, and travel
products that are fun to discover, smart to use and beautiful in
design.  Brookstone products are available at its 35 retail
locations in airports throughout the U.S., online at Brookstone.com
and through select premium retailers worldwide.

Brookstone Holdings and its affiliates sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Lead Case No.
18-11780) on Aug. 2, 2018.

In the petitions signed by Stephen A. Gould, secretary, the Debtors
estimated assets of $50 million to $100 million and liabilities of
$100 million to $500 million.

Judge Brendan Linehan Shannon presides over the cases.

The Debtors tapped Gibson, Dunn & Crutcher LLP as their bankruptcy
counsel; Young Conaway Stargatt & Taylor, LLP as Delaware counsel;
Berkeley Research Group, LLC as financial advisor; GLC Advisors &
Co. as investment banker; and Omni Management Group, Inc., as
administrative agent.


CAFFE VALDINO: Hires Richard Byron as Attorney
----------------------------------------------
Caffe Valdino, Inc., seeks authority from the U.S. Bankruptcy Court
for the Southern District of New York to employ Richard Byron
Peddie, P.C., as attorney to the Debtor.

Caffe Valdino requires Richard Byron to represent the Debtor in the
Chapter 11 bankruptcy proceedings.

Richard Byron will be paid at the hourly rate of $300.

Richard Byron will perform the services up to a maximum of 60 hours
for a flat fee of $8,000.

Richard Byron Peddie, a partner at Richard Byron Peddie, 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.

Richard Byron can be reached at:

     Richard Byron Peddie, Esq.
     LAWSTUDIOS RICHARD BYRON PEDDIE, P.C.
     5051 Euclid Avenue
     Boulder, CO 80303-2831
     Tel: (303) 444-5447

                      About Caffe Valdino

Caffe Valdino, Inc., filed a Chapter 11 bankruptcy petition (Bankr.
S.D.N.Y. Case No. 19-10436) on Feb. 12, 2019, estimating under $1
million in both assets and liabilities.  The Debtor is represented
by Richard Byron Peddie, Esq., at Richard Byron Peddie, P.C.


CALMARE THERAPEUTICS: Gets 2 Favorable Rulings in Delaware Court
----------------------------------------------------------------
Calmare Therapeutics Incorporated has won two significant rulings
from the Delaware Court of Chancery brought against it and certain
of its directors by Stanley Yarbro, another director.

The Delaware Court rejected Yarbro's motion for a summary judgment
to declare that he had been successful in a Consent Proxy
Solicitation seeking control of the Company.  The Court of Chancery
also granted Calmare's motion to stay the Delaware case until a
United States District Court in New York decides, in a lawsuit
filed in April 2018 by Calmare against Yarbro, whether Yarbro used
a proxy that was "false and misleading" under Federal securities
laws to obtain shareholder votes for his proposed slate of
directors.

"The Chancery Court's stay motion is a great help to the Company
and its shareholders," said Calmare Therapeutics President & CEO
Conrad Mir.  "Calmare's Management Team has been working hard to
pursue the Company's business objectives in the face of this
counterproductive litigation.  Such a motion will afford us the
opportunity to put Calmare back on track and focus on what is most
important – posting revenues, and increasing shareholder value."

                   About Calmare Therapeutics

Calmare Therapeutics Incorporated, formerly known as Competitive
Technologies, Inc. -- http://www.calmaretherapeutics.com/--
researches, develops and commercializes chronic, neuropathic pain
and wound affliction devices.  The Company's flagship medical
device -- the Calmare Pain Therapy Device -- is a non-invasive and
non-addictive modality that can successfully treat chronic,
neuropathic pain.  The Company holds a U.S. Food & Drug
Administration 510k clearance designation on its flagship device,
which grants it the exclusive right to sell, market, research and
develop the medical device in the United States.  The Calmare
Devices are commercially sold to medical practices throughout the
world.  They are also found in U.S. military hospitals, clinics and
on installations.

Mayer Hoffman McCann CPAs, issued a "going concern" opinion in its
report on the consolidated financial statements for the year ended
Dec. 31, 2016, noting that the Company has incurred operating
losses since fiscal year 2006 and has a working capital and
shareholders' deficit at Dec. 31, 2016.  These conditions raise
substantial doubt about the Company's ability to continue as a
going concern.

Calmare reported a net loss of $3.82 million for the year ended
Dec. 31, 2016, compared to a net loss of $3.67 million for the year
ended Dec. 31, 2015.  As of Dec. 31, 2016, Calmare had $3.88
million in total assets, $17.69 million in current total
liabilities and a total shareholders' deficit of $13.81 million.


CHERRY BROS: April 1 Meeting Set to Form Creditors' Panel
---------------------------------------------------------
Andy Vara, Acting United States Trustee, for Region 3, will hold an
organizational meeting on April 1, 2019, at 10:00 a.m. in the
bankruptcy case of Cherry Bros. LLC.

The meeting will be held at:

         Lotte New York Palace Hotel
         Office of the United States Trustee
         833 Chestnut Street, Suite 501
         Philadelphia, PA  19107

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

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

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

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

                      About Cherry Bros.

Cherry Bros., LLC is a privately held miscellaneous durable goods
merchant wholesaler.

Cherry Bros., LLC filed for bankruptcy protection (Bankr. E.D.
Penn, Lead Case No. 19-11644) on March 18, 2019.  The petition was
signed by Larry Cherry, authorized representative.  Hon. Eric L.
Frank presides over the case.

The Debtor estimated assets of $1 million to $10 million and
estimated debts of $10 million to $50 million.

The Debtor tapped Michael Jason Barrie, Esq. of Benesch,
Friedlander, Coplan & Aronoff LLP as counsel.


COCRYSTAL PHARMA: Amends Distribution Agreement with AGP
--------------------------------------------------------
Cocrystal Pharma, Inc. and Alliance Global Partners have entered
into an amendment to the Equity Distribution Agreement, dated
July 19, 2018 by and among the Company, Ladenburg Thalmann & Co.
Inc., Barrington Research Associates, Inc.) and AGP, previously
disclosed in Current Report on Form 8-K filed with the Securities
and Exchange Commission on July 20, 2018.  The Amendment provides
that the termination of the engagement of Ladenburg and Barrington
as the sales agents pursuant to the Distribution Agreement will not
affect the validity of the Distribution Agreement to the extent it
governs AGP's engagement as the sales agent under the Distribution
Agreement.  In addition, the Company and AGP agreed that the sales
of the Company's common stock pursuant to the Distribution
Agreement would be suspended until such later date as the Company
shall notify AGP.

Previously, on Dec. 14, 2018, the Company received notice from
Ladenburg regarding the termination of its engagement as the sales
agent pursuant to the Distribution Agreement.  Barrington's
engagement as the sales agent under the Distribution Agreement was
terminated on March 21, 2019.  Pursuant to the terms of the
Distribution Agreement, Barrington was to act as a "qualified
independent underwriter," in accordance with FINRA Rule 5121, due
to Ladenburg's conflict of interest resulting from the beneficial
ownership by Dr. Phillip Frost, a director of the Company, as of
July 19, 2018, of more than 10% of the Company's common equity and
more than 10% of the common equity of Ladenburg's parent, Ladenburg
Thalmann Financial Services, Inc.

                      About Cocrystal Pharma

Cocrystal Pharma, Inc., formerly known as Biozone Pharmaceuticals,
Inc., is a clinical stage biotechnology company discovering and
developing novel antiviral therapeutics that target the
replication
machinery of hepatitis viruses, influenza viruses, and
noroviruses.
The company is headquartered in Tucker, Georgia.

Cocrystal Pharma reported a net loss of $613,000 on $0 of grant
revenues for the year ended Dec. 31, 2017, compared to a net loss
of $74.87 million on $0 of grant revenues for the year ended Dec.
31, 2016.  As of Sept. 30, 2018, the Company had $124.17 million
in
total assets, $13.27 million in total iabilities and $110.90
million in total stockholders' equity.

The Company's auditors issued an audit opinion for the year ended
Dec. 31, 2017 which contained what is referred to as a "going
concern" opinion.  BDO USA, LLP, in Seattle, Washington, noted
that
the Company has suffered recurring losses from operations and has
an accumulated deficit that raise substantial doubt about its
ability to continue as a going concern.


DECOR HOLDINGS: U.S. Trustee Forms 2-Member Committee
-----------------------------------------------------
The U.S. Trustee for Region 2 on March 22 amended the appointment
of the official committee of unsecured creditors in the Chapter 11
cases of Decor Holdings Inc., and its debtor affiliates.

The committee members are:

   (1) Source Asia Trading Company
       1065 Zhao Jia Bang Rd, Rm 1401
       Shanghai, China 20030
       Email: Joshr@sourceasialtd.net

   (2) Kenneth L. Mazer
       Global Textile Partners, Inc.
       120 Harrison Street
       Gloversville, NY 12078
       Email: KenMazer@GlobalTextilePartners.com

The U.S. Trustee previously appointed Juliette Wu of Triplex
Shanghai Enterprises.
  
Official creditor's 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 Robert Allen Duralee Group

The Robert Allen Duralee Group - https://www.robertallendesign.com/
-- is a supplier of decorative fabrics and furniture to the design
industry in the United States.  In addition to their own extensive
product lines, the Robert Allen Duralee Group represents six other
furnishing companies, including Paris Texas Hardware, The Finial
Company, Clarke & Clarke, Thibaut and Byron & Byron.  The Robert
Allen Duralee Group maintains showroom premises located in major
metropolitan cities across the United States and Canada, and an
extensive worldwide agent showroom network that collectively
service more than 30 countries around the globe.  Decor is a
privately-owned company with headquarters in Hauppauge, New York.

The Robert Allen Duralee Group, Inc., and 4 related entities,
including ultimate parent Decor Holdings, Inc., sought Chapter 11
protection on Feb. 12, 2019. The lead case is In re Decor Holdings,
Inc. (Bankr. E.D.N.Y., Lead Case No. 19-71020).

Decor Holdings estimated assets of $50 million to $100 million and
liabilities of $50 million to $100 million as of the bankruptcy
filing.

The Hon. Robert E. Grossman is the case judge.

The Debtors tapped Hahn & Hessen LLP as counsel; Halperin Battaglia
Benzija, LLP, as special counsel; RAS Management Advisors, LLC, as
restructuring advisor; Blum Shapiro as tax advisor; SSG Capital
Advisors, LLC, as investment banker; Great American as sales agent;
and Omni Management Group, Inc., as claims agent.


DITECH HOLDING: Proposes $2.5MM Incentives for 31 Employees
-----------------------------------------------------------
BankruptcyData.com reported that Ditech Holding Corporation, et
al., requested Court approval for a key employee incentive plan
(the "KEIP") that would cover 31 employees and have an estimated
cost of $2.5 million. The KEIP also includes terms relating to a
subset of 12 employees that would apply should the Debtors choose
to "toggle" from a reorganization transaction to a sale
transaction.

The KEIP is designed to incentivize key employees in the event of a
Reorganization Transaction, with a toggle for a sale of some or all
of the assets of the Debtors pursuant to an Asset Sale Transaction
or Sale Transaction.

Under the KEIP, thirty-one (31) of the Debtors' key employees
(collectively, the 'Base KEIP Participants'), who are largely
responsible for the continuity of the Debtors' day-to-day
operations, will be eligible to collectively receive up to $2.5
million under the KEIP (the 'Base KEIP' and the 'Base KEIP Award').
In addition, a subset of Base KEIP Participants (twelve (12) key
employees) (the 'Sale Incentive Participants' and together with the
Base KEIP Participants, the 'KEIP Participants') will be entitled
to incremental awards in the event of a Sale that are tied directly
to the recoveries for the Term Lenders (the 'Sale KEIP Award') in
recognition of their integral role and ability to drive value in
the Marketing Process."

Key terms of the Base KEIP:

* Base KEIP Participants: Base KEIP Participants include thirty-one
(31) of the Debtors' key employees, including eight (8) statutory
insiders, who have played and will continue to play significant
roles in optimizing the Debtors' business performance, including
with respect to the Debtors' servicing functions, and meeting the
ambitious financial performance metrics during these chapter 11
cases to allow the Debtors to maximize value and facilitate the
successful consummation of a transaction.

* Total Program Cost: The total Base KEIP Award will be up to $2.5
million if all target Performance Metrics are met.

* Plan Period: The Performance Metrics will be measured from the
Commencement Date through the consummation of a Plan.

* Performance Metrics: Each individual's Base KEIP Award will be
earned if certain metrics are achieved:

   Change-of-Control Milestone. The change-of-control milestone is

   deemed achieved upon the closing of a change-of-control
   transaction, including a recapitalization or such other
   strategic transaction as approved by the Board in its sole
   discretion, and each Base KEIP Participant will earn a total of

   40% of his or her Base KEIP Award.

   Financial and Operational Performance Milestones. Financial
   Performance (25%): Financial performance accounts for 25% of
   total KEIP Award (the "Financial Performance Awards"). The
   financial performance metric is achieved and a Base KEIP
   Participant's will earn his or her Financial Performance Award  

   if the Debtors maintain their expenses at or under forecast
   based on the Debtors' 2019 business plan through the end of the

   Base KEIP Period (the "2019 Business Plan").

   GSE Adherence (15%): Maintenance of the Debtors' Fannie Mae
   STAR rating accounts for 15% of the total KEIP Award (the "GSE
   Adherence Award"). The GSE adherence milestone is achieved and
   a Base KEIP Participant will earn his or her GSE Adherence
   Award, provided that the Debtors maintain their Fannie Mae STAR

   rating, measured as of the Commencement Date through the
   closing of the Reorganization Transaction.

   Individual Performance Rating (20%): Individual performance
   ratings account for 20% of each Base KEIP Participant's Base
   KEIP Award (the "Individual Performance Award"). The
   performance rating metric is achieved and a Base KEIP
   Participant will earn 20% of his or her Individual Performance
   Award, provided that such participant achieves at least a
   satisfactory rating based on such participant's overall
   individual performance for all goals, as determined by the
   Company.

   Partial Achievement of Performance Metrics. The Performance
   Metrics will each be determined separately such that a
   participant could be awarded one of the four performance awards

   but not another.

Key terms of the Sale Incentive:

* Sale Incentive Participants: The Sale Incentive Participants are
twelve (12) Base KEIP Participants, including six (6) "insiders,"
as defined in section 101(31) the Bankruptcy Code, who will be
eligible to receive the incremental amounts under the Sale KEIP.

* Total Program Cost: All Sale Incentive Awards will be distributed
out of the Term Lenders' recoveries under the Plan. The total
incremental payout under the Sale KEIP ranges from $2.0 million to
$30.1 million.

* Sale Plan Period: The Term Lenders' recoveries will be measured
as of the Effective Date of the Plan based upon the projected
recoveries to the Term Lenders under the Plan as agreed to by the
Consenting Term Lenders and the Debtors or as determined by the
Bankruptcy Court.

Sale Award Mechanics:

* Base KEIP Award. As stated, Base KEIP Participants remain
eligible to earn their Base KEIP Award, subject to satisfaction of
the Performance Metrics.

* Incremental Sale Award. Eligibility to receive incremental
compensation above the $2.5 million Base KEIP Award (the
"Incremental Sale Award") Award will be limited to the Sale
Incentive Participants. Payouts increase between the threshold and
maximum payout. The threshold amount is $625 million, which equals
a 65% recovery for the Term Lenders, and would trigger an aggregate
payment to all Sale Incentive Participants equal to $2 million
(incremental to the Base KEIP Award). The maximum total value is
$995 million, which equals a recovery of par plus accrued interest
by the Term Lenders. If the maximum award payment is achieved, the
total payout to Sale Incentive Participants is equal to $30.1
million (incremental to the Base KEIP Award).

* Eligibility to Receive KEIP Awards. Except as noted, a Sale
Incentive Participant shall only be eligible to receive his or her
Sale Incentive Award if such participant is employed by the Company
or a purchaser in an Asset Sale Transaction or Sale Transaction, as
applicable, as of the payment date of the Sale Incentive Awards,
which shall be same date that the Term Lenders receive their
initial distribution under the Plan. If a Sale Incentive
Participant is terminated without cause, or if under such
participant's employment agreement or offer letter, by the
participant for "good reason" or similar standard, or upon
disability or death, such Sale Incentive Participant will remain
eligible to receive his or her Sale Incentive Award as if such
participant was still employed by the Debtors.

The Court scheduled a hearing to consider the KEIP motion for April
11, 2019, with objections due by April 4, 2019.

           About Ditech Holding Corporation

Ditech Holding Corporation and its subsidiaries --
http://www.ditechholding.com/-- are independent servicer and
originator of mortgage loans.  Based in Fort Washington,
Pennsylvania, the Debtors have approximately 3,300 employees and
service a diverse loan portfolio.

Ditech Holding and certain of its subsidiaries, including Ditech
Financial LLC and Reverse Mortgage Solutions, Inc., filed voluntary
Chapter 11 petitions (Bankr. S.D.N.Y. Lead Case No. 19-10412) on
Feb. 11, 2019, after reaching terms with lenders of a Chapter 11
plan that will reduce debt by $800 million.

The Debtors tapped Weil, Gotshal & Manges LLP as legal counsel,
Houlihan Lokey as investment banker and AlixPartners LLP as
financial advisor.  Epiq Bankruptcy Solutions LLC is the claims and
noticing agent.

Kirkland & Ellis LLP and FTI Consulting Inc. serve as the
consenting term lenders' legal counsel and financial advisor,
respectively.

On Feb. 27, 2019, a seven-member panel has been named the official
committee of creditors committee in the Debtors' cases.


DJJ ENTERPRISES: Hires Larson Zirzow as Bankruptcy Counsel
----------------------------------------------------------
DJJ Enterprises LLC, and its debtor-affiliates seek authority from
the U.S. Bankruptcy Court for the District of Nevada to employ
Larson Zirzow & Kaplan, LLC, as general reorganization counsel to
the Debtors.

DJJ Enterprises requires Larson Zirzow to:

   (a) prepare on behalf of the Debtors, as debtors in
       possession, all necessary or appropriate motions,
       applications, answers, orders, reports, and other papers
       in connection with the administration of the Debtors'
       bankruptcy estates;

   (b) take all necessary or appropriate actions in connection
       with a sale, and a plan of reorganization and related
       disclosure statement, and all related documents, and such
       further actions as may be required in connection with the
       administration of the Debtors' estates;

   (c) take all necessary actions to protect and preserve the
       estates of the Debtors including the prosecution of
       actions on the Debtors' behalf, the defense of any actions
       commenced against the Debtors, the negotiation of disputes
       in which the Debtors are involved, and the preparation of
       objections to claims filed against the Debtors' estates;
       and

   (d) perform all other necessary legal services in connection
       with the prosecution of the Chapter 11 Cases.

Larson Zirzow will be paid at these hourly rates:

     Attorneys               $500
     Paraprofessionals       $220

Larson Zirzow will be paid a retainer in the amount of $25,000. Of
this sum, the Debtor paid the Firm $5,354 prior to the Petition
Date inclusive of the court filing fees for the cases, and the Firm
currently holds in retainer the remainder sum of $19,646 in trust
for potential future legal fees and costs from and after the
Petition Date.

Larson Zirzow will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Matthew C. Zirzow, a partner at Larson Zirzow & Kaplan, 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.

Larson Zirzow can be reached at:

     Zachariah Larson, Esq.
     Matthew C. Zirzow, Esq.
     LARSON ZIRZOW & KAPLAN, LLC
     850 E. Bonneville Ave.
     Las Vegas, NV 89101
     Tel: (702) 382-1170
     Fax: (702) 382-1169
     E-mail: zlarson@lzklegal.com
             mzirzow@lzklegal.com

                    About DJJ Enterprises

DJJ Enterprises, LLC, filed a Chapter 11 bankruptcy petition
(Bankr. D. Nev. Case No. 18-16615) on Nov. 5, 2018, disclosing
under $1 million in both assets and liabilities.  The Debtor tapped
Matthew C. Zirzow, Esq., at Larson Zirzow & Kaplan, LLC, as
bankruptcy counsel, and Knight Law, as special litigation counsel.



DURA AUTOMOTIVE: S&P Assigns 'B' ICR, Outlook Stable
----------------------------------------------------
S&P Global Ratings assigned its 'B' issuer credit rating to Dura
Automotive Systems LLC and 'B+' issue-level and '2' recovery
ratings to its proposed senior secured term loan B and revolving
credit facility.

The rating actions follow the company's announcement of the
issuance of EUR200.0 million senior secured term loan B and EUR20.0
million revolving credit facility in Europe, (undrawn at close) to
repay existing debt and transaction-related fees and to fund
business growth related investments.

The 'B' issuer credit rating on Dura reflects the company's high
customer concentration, exposure to larger competitors, weaker
profitability, and cash flow adequacy relative to most Tier 1 auto
suppliers at a time of plateauing demand for light vehicles in
Europe and North America. These factors are partially offset by its
focus on next generation products and lower debt leverage (debt to
EBITDA well under 3.0x over the next two years) relative to most
sponsor-owned auto suppliers in the 'B' category.

The stable outlook reflects S&P's expectation that ongoing demand
for the company's products, positive cash flow from operations and
improved liquidity post transaction will help fund its growth
related investments over the next 12 months.

S&P could lower its ratings on Dura if the company adopts a more
aggressive financial policy, possibly including dividend payouts or
large debt-financed acquisitions such that debt to EBITDA remains
over 4.0x on a sustained basis. In addition, S&P could lower its
ratings if operational issues or unexpected program discontinuation
and relocation, result in larger than expected negative free cash
flow in 2020 with reduced visibility for FOCF to debt approaching
5% on a sustained basis beyond 2021. This could also occur because
of the loss of key contracts, shifts in product mix, weak execution
on upcoming product launches, or the inability to pass along
potential price increases or commodity inflation.

An upgrade to 'B+' is unlikely over the next 12 months as the
company would need to demonstrate a longer track record of success
of its next generation product portfolio and ongoing restructuring
efforts to support EBITDA margins approaching 11% on a sustained
basis along with FOCF to debt of over 5%. An upgrade could also
occur if the company is able to improve its competitive position
partly through increased customer and geographic diversity,
especially in Asia-Pacific.


EDU-LINK CONSULTING: Seeks to Hire Jae Y. Kim as Legal Counsel
--------------------------------------------------------------
Edu-Link Consulting Corp. seeks approval from the U.S. Bankruptcy
Court for the District of New Jersey to hire Law Offices of Jae Y.
Kim, LLC as its legal counsel.

The firm will advise the Debtor of its powers and duties under the
Bankruptcy Code; represent the Debtor in negotiation with its
creditors; and provide other legal services in connection with its
Chapter 11 case.

The firm will be paid at these hourly rates:

     Members/Of Counsel     $300 - $400
     Associates             $150 - $295
     Paralegals               $75 - $95

Jae Y. Kim is "disinterested" as defined in section 101(14) of the
Bankruptcy Code, according to court filings.

The firm can be reached through:

     Jae Y. Kim, Esq.
     Law Offices of Jae Y. Kim, LLC
     One University Plaza, Suite 212
     Hackensack, NJ 07601
     Tel: (201) 488-8600
     Fax: (201) 488-8633
     Email: jkim@jyklaw.com

                  About Edu-Link Consulting Corp.

Edu-Link Consulting Corp. is a learning services provider
headquartered in Paramus, New Jersey.  It promotes global links in
education to encourage international educational development and
cultural diplomacy.  Edu-Link's purpose is twofold: to recruit
international students to study in U.S. schools and to develop and
implement a U.S. style curriculum in schools located in other
countries.

Edu-Link Consulting sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. N.J. Case No. 19-15125) on March 13,
2019.  At the time of the filing, the Debtor disclosed $199,550 in
assets and $1,741,596 in liabilities.  The case has been assigned
to Judge John K. Sherwood.  The Law Offices of Jae Y. Kim, LLC, is
the Debtor's legal counsel.



EIGHT ZERO EIGHT: Seeks to Hire Gleichenhaus as Legal Counsel
-------------------------------------------------------------
Eight Zero Eight of WNY Inc. seeks approval from the U.S.
Bankruptcy Court for the Western District of New York to hire
Gleichenhaus, Marchese & Weishaar, P.C. as its legal counsel.

The firm will advise the Debtor of its powers and duties under the
Bankruptcy Code; take necessary action to avoid liens and remove
restraints against its property; and provide other legal services
in connection with its Chapter 11 case.

Gleichenhaus will be paid at these hourly rates:

     Michael A. Weishaar, Esq.     $350
     Scott Bogucki, Esq.           $350  
     Other Attorneys               $300
     Paralegals                     $80

As of the Petition Date, the firm held a net retainer in the amount
of $5,000.

Gleichenhaus is "disinterested" as defined in Section 101(14) of
the Bankruptcy Code, according to court filings.

The firm can be reached through:

     Michael A. Weishaar, Esq.
     Gleichenhaus, Marchese & Weishaar, P.C.
     930 Convention Tower
     43 Court Street
     Buffalo, NY 14202
     Telephone: (716) 845-6446
     Email: RBG_GMF@hotmail.com

                    About Eight Zero Eight

Eight Zero Eight of WNY, Inc., sought protection under Chapter 11
of the Bankruptcy Code (Bankr. W.D.N.Y. Case No. 19-10281) on Feb.
20, 2019.  At the time of the filing, the Debtor estimated assets
of less than $100,000 and liabilities of less than $500,000.
Gleichenhaus, Marchese & Weishaar, P.C., is the Debtor's counsel.




EP ENERGY: Giljoon Sinn Resigns as Director
-------------------------------------------
Giljoon Sinn has notified EP Energy Corporation of his resignation
from the Company's Board of Directors, effective Apri1 1, 2019.
Mr. Sinn's resignation was made at the direction of Korea National
Oil Corporation in connection with a rotational assignment and did
not result from a disagreement with the Company on any matter
relating to the Company's operations, policies or practices,
including its controls or financial related matters, the Company
disclosed in a Form 8-K filed with the Securities and Exchange
Commission.

Pursuant to its director appointment rights under the Company's
Stockholders Agreement dated Aug. 30, 2013, the KNOC Sponsor
designated Mr. Jae Hwii Gwag to replace Mr. Sinn on the Board,
effective as of April 1, 2019, which designation was approved by
the Company's Board.  Mr. Gwag is also expected to serve on the
Board's Compensation and Governance & Nominating Committees.  Mr.
Gwag will not receive any compensation from the Company for serving
on the Board.

                        About EP Energy LLC

EP Energy LLC, a wholly-owned subsidiary of EP Energy Corporation
-- http://www.epenergy.com/-- is an independent exploration and
production company engaged in the acquisition and development of
unconventional onshore oil and natural gas properties in the
United
States.  The Company operates through a diverse base of producing
assets and are focused on providing returns through the
development
of its drilling inventory located in three areas: the Permian basin
in West Texas, the Eagle Ford Shale in South Texas, and the
Altamont Field in the Uinta basin in Northeastern Utah.  The
Company is headquartered in Houston, Texas.

EP Energy reported a net loss of $1 billion for the year ended Dec.
31, 2018, compared to a net loss of $203 million for the year ended
Dec. 31, 2017.  As of Dec. 31, 2018, EP Energy had $4.18 billion in
total assets, $440 million in total current liabilities, $4.34
billion in total non-current liabilities, and a total members'
deficit of $599 million.

                          *   *   *

In January 2018, S&P Global Ratings raised its corporate credit
rating on Houston-based exploration and production (E&P) company
EP
Energy LLC to 'CCC+' from 'SD' (selective default).  The outlook is
negative.  "The upgrade reflects the announcement that EP has
completed exchanges of its unsecured debt, which we considered to
be distressed, for 1.5-lien secured debt due 2024.  The rating
incorporates the new capital structure, which reflects the minimal
reduction of the company's debt as a result of the exchanges," S&P
said.

EP Energy LLC carries a 'Caal' Corporate Family Rating from Moody's
Investors Service.


EQUINIX INC: Moody's Hikes CFR & Sr. Unsecured Rating to 'Ba2'
--------------------------------------------------------------
Moody's Investors Service upgraded Equinix Inc.'s corporate family
rating (CFR) to Ba2 from Ba3 and its probability of default rating
to Ba2-PD from Ba3-PD. The senior unsecured ratings of Equinix were
also upgraded by two notches to Ba2 from B1. This two notch upgrade
reflects the release of guarantor entities under the terms of the
credit agreement governing the company's unrated senior credit
facility, with the effective release of these guarantees equalizing
the debt instrument level priority rankings of the senior credit
facility and senior unsecured notes. Equinix's Speculative Grade
Liquidity (SGL) rating was upgraded to SGL-2 from SGL-3, indicating
good liquidity. The outlook is stable.

The upgrade reflects Moody's updated projections of Equinix's
expected financial performance, including steady revenue growth and
resulting key debt credit metrics improving over the next 12 to 18
months. This progress is supported by a disciplined, more balanced
debt and equity funding approach to supporting business growth and
funding cash deficits from high capital spending and dividend
payments. Equinix's recent $1.2 billion equity raise on March 4 and
its current $750 million at-the-market (ATM) stock offering program
further confirm the company's commitment to steadily driving
leverage lower and towards 4.5x (Moody's adjusted) by year-end
2020. The upgrade also reflects the quality and scale of the
company's global data center portfolio.

Upgrades:

Issuer: Equinix, Inc.

Corporate Family Rating, Upgraded to Ba2 from Ba3

Probability of Default Rating, Upgraded to Ba2-PD from Ba3-PD

Speculative Grade Liquidity Rating, Upgraded to SGL-2 from SGL-3

Senior Unsecured Shelf, Upgraded to (P)Ba2 from (P)B1

Senior Unsecured Regular Bond/Debenture, Upgraded to Ba2 (LGD4)
from B1 (LGD5)

Outlook Actions:

Issuer: Equinix, Inc.

Outlook, Remains Stable

RATINGS RATIONALE

Equinix's Ba2 CFR reflects its position as the leading global
independent data center operator offering carrier-neutral data
center and interconnection services to large enterprises, content
distributors and global Internet companies. The rating also
incorporates the company's stable base of contracted recurring
revenue, its growing scale and strategic real estate holdings in
key communications hubs, and the still favorable near-term growth
trends for data center services across the world. These positive
factors are offset by significant industry risks, intense
competition, aggressive debt-funded M&A focus and relatively high
capital intensity. The rating also reflects the company's negative
free cash flow due to the high dividend associated with its real
estate investment trust (REIT) tax status. Equinix's commitment to
an even funding distribution between equity and debt, as evidenced
by its recent equity raise and its ongoing ATM equity issuance
program, establishes a more consistent capital sourcing policy
going forward which will contribute to steadier reductions in debt
leverage.

Moody's maintains an SGL-2 speculative grade liquidity rating on
Equinix, indicating good liquidity for the next 12-18 months. As of
December 31, 2018, the company had $606 million of cash on hand and
approximately $1.9 billion available under its revolver. In March
2019, cash balances were boosted by a $1.2 billion equity raise.
Moody's estimates that Equinix will pay around $800 million in cash
dividends in 2019, growing in future periods. Moody's estimates
that dividends will exceed internally generated cash and capital
spending for at least the next two years, and the company will rely
upon a mix of debt and equity capital to finance the deficit.
Equinix also has the option of sale leasebacks to generate
additional liquidity.

The stable outlook reflects Moody's belief that leverage will
steadily approach 4.5x (Moody's adjusted) by year-end 2020. Moody's
expects Equinix will fund growth with a prudent and balanced mix of
debt and equity capital, reducing historical leverage volatility.

Moody's could upgrade Equinix's ratings if leverage can be
sustained below 4x and the company continues to use a meaningful
amount of equity to fund its annual cash deficits. The ratings
could be downgraded if leverage is sustained above 4.5x (Moody's
adjusted) for an extended time frame or if liquidity deteriorates.

The principal methodology used in these ratings was Communications
Infrastructure Industry published in September 2017.

Headquartered in Redwood City, CA, Equinix, Inc. is the largest
publicly traded carrier-neutral data center hosting provider in the
world with operations in 52 markets across the Americas, EMEA and
Asia-Pacific.


EQUITRANS MIDSTREAM: S&P Raises Sr. Sec. Term Loan B Rating to BB+
------------------------------------------------------------------
S&P Global Ratings raised the rating on Equitrans Midstream's
senior secured term loan B to 'BB+' from 'BB' based on improved
recovery prospects. The recovery rating for the senior secured debt
is '2' (rounded estimate: 70%).

At the same time, S&P affirmed its 'BB' issuer credit rating on
Equitrans and revised the outlook on the company to negative.

Equitrans is the holding company that controls Pittsburgh-based
midstream partnership EQM Midstream Partners L.P. (EQM;
BBB-/Negative).  The company issued a $600 million, five-year term
loan B to fund a buyout of general partner EQGP Holdings L.P. The
term loan amount is $50 million lower than expected, which leads to
incrementally stronger credit metrics.

The negative outlook on EQM, the underlying master limited
partnership that is an important driver for Equitrans' rating,
reflects uncertainty around the completion of Mountain Valley
Pipeline (MVP), the project's increased costs, and the pressure it
is placing on EQM's credit measures and balance sheet. S&P has
revised its forecast for EQM to incorporate additional conservatism
on the timing of MVP's completion, assuming it is in-service by
June 2020. As a result S&P anticipates elevated leverage at the
partnership in 2019, with debt to EBITDA of 5.1x falling to about
4.6x in 2020. Changes in capital spending driven by timing of MVP
construction could affect S&P's expected leverage metrics.

The negative outlook on Equitrans reflects the negative outlook on
its investee MLP, EQM, because if S&P lowered the rating on EQM it
would also lower the rating on Equitrans. The negative outlook
reflects uncertainty around the timing of completion and final
project costs of Mountain Valley Pipeline. Regulatory delays
continue to affect MVP's in-service timing and resulting cash flows
to EQM. High capital costs associated with MVP and related projects
may lead to S&P Global Ratings' adjusted leverage remaining above
5x over the next 12 months.

S&P expects Equitrans to maintain adequate liquidity, stand-alone
adjusted leverage below 2x, and consolidated adjusted leverage
(including EQM) of 4x-5x range.

S&P could lower the rating on Equitrans if it lowered the rating on
EQM. It could lower its ratings on EQM if further delays or rising
construction costs for MVP occur without management taking
mitigating actions to lower leverage below 4.5x by 2021. S&P would
also consider a lower rating on Equitrans if EQM reduced
distributions so that stand-alone leverage exceeded 2x or if it
viewed the likelihood of distribution cuts at EQM to be elevated
due to significant business stress.

S&P could stabilize the outlook on Equitrans if it stabilized EQM's
outlook. This would likely occur if MVP's regulatory issues are
resolved leading to a firm in-service date. Alternatively, if MVP
is further delayed and EQM takes steps which provide a clear
line-of-site to leverage below 4.5x, S&P may change the outlook to
stable.


ERC FINANCE: S&P Rates New Delayed Draw Term Loan 'B-'
-------------------------------------------------------
S&P Global Ratings assigned its 'B-' issue-level rating and '3'
recovery rating to ERC Finance LLC's new delayed draw term loan.

The '3' recovery rating indicates S&P's expectation for meaningful
recovery (50%-70%; rounded estimate: 60%) in the event of a payment
default. S&P's '3' recovery rating on the company's existing senior
secured first-lien facility remains unchanged. ERC intends to use
the proceeds from this new debt for facility expansion."

S&P's 'B-' issuer credit rating on ERC Topco Holdings LLC reflects
the company's market position as the largest pure-play eating
disorder treatment chain in the U.S., which is offset by its narrow
operating focus in a specialized and highly fragmented market. The
rating also reflects S&P's expectation that ERC's adjusted leverage
will remain high and it will incur free cash flow deficits for 2019
as it invests in expansion.

  RATINGS LIST

  ERC Topco Holdings LLC
   Issuer Credit Rating           B-/Stable/--

  New Rating

  ERC Finance LLC
   Senior Secured
    Delayed Draw Term Loan        B-
     Recovery Rating              3(60%)


FLORIDA CLEANEX: Seeks to Hire Kelley Fulton as Legal Counsel
-------------------------------------------------------------
Florida Cleanex Inc. seeks approval from the U.S. Bankruptcy Court
for the Southern District of Florida to hire Kelley, Fulton &
Kaplan, PL as its legal counsel.

The firm will advise the Debtor of its powers and duties under the
Bankruptcy Code; represent the Debtor in negotiation with its
creditors in the preparation of a bankruptcy plan; and provide
other legal services in connection with its Chapter 11 case.

Craig Kelley, Esq., the attorney who will be handling the case,
charges an hourly fee of $450.

Mr. Kelley and his firm do not represent any interest adverse to
the Debtor, according to court filings.

Kelley can be reached through:

     Craig I. Kelley, Esq.
     Kelley, Fulton & Kaplan, PL
     1665 Palm Beach Lakes Blvd #1000
     West Palm Beach, FL 33401
     Tel: 561-491-1200
     E-mail: craig@kelleylawoffice.com
     E-mail: dana@kelleylawoffice.com

                      About Florida Cleanex

Florida Cleanex, Inc., is a privately held company that offers
maintenance and complete janitorial services.  

Florida Cleanex sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. Fla. Case No. 19-13101) on March 8,
2019.  At the time of the filing, the Debtor disclosed $174,078 in
assets and $1,175,100 in liabilities.  The case is assigned to
Judge Raymond B. Ray.  Kelley, Fulton & Kaplan, PL, is the Debtor's
counsel.



GIGA-TRONICS INC: Removes 'Interim' From CFO's Title
----------------------------------------------------
The Board of Directors of Giga-tronics Incorporated has appointed
Lutz T. Henckels as its chief financial officer and principal
financial officer, removing his interim title.  On Feb. 22, 2018,
the Board appointed Mr. Henckels as its executive vice president
and interim chief financial officer.

The Company did not enter into, change or modify any exiting
compensatory arrangement with Dr. Henckels in connection with this
change in his title and status and he remains and at-will employee.
His current annual base salary is $200,000.

Dr. Henckels, age 78, has served as a member of the Company's Board
since 2011 and will continue to serve on the Company's Board.  Dr.
Henckels is a managing member of Alara Capital AVI II (formerly the
Company's largest shareholder) and has over 20 years' experience
serving as chief executive officer of the private and public
technology companies HiQ Solar, SyntheSys Research (acquired by
Tektronix/Danaher), LeCroy Corporation (LCRY), and HHB Systems
(HHBX).  Dr. Henckels is the recipient of the first John Fluke Sr.
Memorial Award, along with David Packard, Joe Keithley, and Alex
D'Arbeloff.  The John Fluke Sr. Memorial Award was established in
1986 to honor executives who have led their companies with
innovative engineering or business management.  Dr. Henckels holds
a Bachelor of Science and Master of Science in Electrical
Engineering and PhD in Computer Science from the Massachusetts
Institute of Technology.  He graduated Eta Kappa Nu and Tau Beta
Pi, and is also a graduate of the OMP program of Harvard Business
School.  Dr. Henckels has also been a director of multiple publicly
traded companies, including Ikos, Inframetrics, and LeCroy.

                      Severance Agreements

On March 21, 2019, the Company entered into Severance Agreements
with Traci Mitchell, its corporate controller and principal
accounting officer and Armand Pantalone, its chief technology
officer.  Each Severance Agreement provides that the officer would
receive six months of his or her then-current salary if terminated
without Cause at any time or if he or she resigns for Good Reason
in connection with a Change in Control of the Company, as those
terms are defined in the respective Severance Agreements.

                          About Giga-Tronics

Headquartered in Dublin, California, Giga-Tronics Incorporated is
a
publicly held company, traded on the OTCQB Capital Market under
the
symbol "GIGA", which produces an Advanced Signal Generator (ASG)
and an Advanced Signal Analyzer (ASA) for the electronic warfare
market and YIG (Yttrium, Iron, Garnet) RADAR filters used in
fighter jet aircraft.  Giga-tronics produces instruments,
subsystems and sophisticated microwave components that have broad
applications in defense electronics, aeronautics and wireless
telecommunications.

As of Dec. 29, 2018, Giga-Tronics had $6.59 million in total
assets, $5.35 million in total liabilities, and $1.23 million in
total shareholders' equity.  Giga-Tronics reported a net loss of
$3.10 million for the year ended March 31, 2018, compared to a net
loss of $1.54 million for the year ended March 25, 2017.

Armanino LLP's opinion included in the Company's Annual Report on
Form 10-K for the year ended March 31, 2018 contains a going
concern explanatory paragraph stating that the Company's
significant recurring losses and accumulated deficit raise
substantial doubt about its ability to continue as a going concern.


GREENHILL & CO: Moody's Affirms 'Ba2' CFR & Sr. Secured Ratings
---------------------------------------------------------------
Moody's Investors Service affirmed Greenhill & Co., Inc.'s Ba2
corporate family rating and Ba2 senior secured term loan and
revolving credit facility ratings. Moody's rating action follows
Greenhill's announcement that it will be issuing a $360 million
first lien term loan due 2024 in order to refinance its existing
$328 million first lien term loan due 2022, and that it intends to
use the remaining proceeds to repurchase shares and for general
corporate purposes. The rating outlook is stable. Moody's has
decided to withdraw its outlook on Greenhill's senior secured term
loan, revolving credit facility and corporate family rating for its
own business reasons.

Assignments:

Issuer: Greenhill & Co., Inc.

Gtd Senior Secured Bank Credit Facility, Assigned Ba2

Affirmations:

Issuer: Greenhill & Co., Inc.

Corporate Family Rating, Affirmed Ba2

Gtd Senior Secured Bank Credit Facility, Affirmed Ba2

Outlook Actions:

Issuer: Greenhill & Co., Inc.

Outlook, Remains Stable

RATINGS RATIONALE

Moody's said Greenhill's creditworthiness is underpinned by a
profitable franchise with reasonable pretax margins supported by a
variable compensation model. However, since Greenhill lacks the
scale and diversification of some other advisory boutiques, it's
profitability and cash flow generation capacity could be more
challenged compared with peers in an adverse business environment,
said Moody's.

Moody's said Greenhill's refinancing will result in about a $32
million increase in outstanding debt, which will cause its debt
leverage to increase to around 4.6x from 4.0x at December 2018.
Moody's said the refinancing demonstrates Greenhill's developing
comfort with leverage, especially compared with its history of
operating at negligible debt levels. Although the refinancing and
increase in debt would delay the firm's de-leveraging trajectory,
it could provide the firm with favorable pricing, which could be
sufficient to reduce its overall debt servicing expense, said
Moody's.

Moody's said that in October 2017, Greenhill launched a plan to
repurchase up to $285 million in shares funded by the issuance of a
$350 million first lien term loan, supplemented by a $20 million
equity investment by Greenhill's chairman and CEO. Greenhill used
the remaining proceeds to pay down a loan of around $75 million. As
of January 2019, Greenhill had repurchased $261 million in shares,
said Moody's. Moody's also said that Greenhill has made $22 million
mandatory debt principal amortization payments since the launch of
its 2017 transaction.

Moody's said that Greenhill has historically operated at a lower
ratio of compensation expense to revenue compared to its boutique
advisory peers, demonstrating a certain level of compensation
flexibility during periods of lower revenue. However, said Moody's,
the increase in Greenhill's compensation ratio to 67% in 2017
revealed the limitations of the flexibility in this ratio.

The stable outlook also reflects Moody's expectation that the firm
would maintain its disciplined variable cost structure and give
adequate consideration to creditors' interests as it focuses on
deleveraging over the coming few years.

Factors that could lead to an upgrade:

  - Demonstrated shift towards a more conservative financial policy
and a significant reduction in debt

  - Strengthened cash flow generation that would sustain a higher
debt service capacity at the bottom of the economic cycle

  - Growth and development of new revenue streams resulting in
increased business diversification

Factors that could lead to a downgrade:

  - Developments in earnings and debt levels that would indicate a
lower possibility of de-levering below 4.5x by early 2020

  - A substantial increase in debt to fund share repurchases or
dividends

  - A significant and prolonged deterioration in cash flow
generation and profitability due to an extended downturn in M&A
advisory markets or the departure of key personnel and failure to
maintain the compensation expense ratio in line with the historic
average

Greenhill is a New York-headquartered financial advisory firm. The
firm's specialization is in M&A advisory, and also operates a
restructuring advisory business and a capital advisory segment.
Greenhill reported $352 million in revenues in 2018.

The principal methodology used in these ratings was Securities
Industry Service Providers published in June 2018.


GRINDING MEDIA: Moody's Cuts CFR & Senior Secured Notes to 'B3'
---------------------------------------------------------------
Moody's Investors Service downgraded Grinding Media Inc.'s
(Moly-Cop) corporate family rating to B3 from B2, its probability
of default rating to B3-PD from B2-PD and its senior secured notes
rating to B3 from B2. The rating outlook is stable.

"The downgrade of Grinding Media's ratings reflect the substantial
deterioration in its operating performance and credit metrics, and
the likelihood its metrics will remain relatively weak even as its
operating performance improves in fiscal 2020." said Michael
Corelli, Moody's Vice President -- Senior Credit Officer and lead
analyst for Grinding Media Inc.

Downgrades:

Issuer: Grinding Media Inc.

Probability of Default Rating, Downgraded to B3-PD from B2-PD

Corporate Family Rating, Downgraded to B3 from B2

Senior Secured Notes, Downgraded to B3 (LGD4) from B2 (LGD4)

Outlook Actions:

Issuer: Grinding Media Inc.

Outlook, Changed to Stable

RATINGS RATIONALE

Grinding Media's (Moly-Cop's) B3 corporate family rating reflects
its elevated leverage, modest interest coverage, relatively small
size versus other worldwide manufacturers of steel products, lack
of end-market diversification and moderate customer concentration.
The company is dependent on the highly cyclical mining sector for
almost all of its revenues, and is particularly exposed to copper
and gold mining, which accounts for the majority of its grinding
media sales volume.

Moly-Cop's rating is supported by the good long-term relationships
it has developed with several well-established and blue chip
customers, its good geographic diversity, leading market share and
the recurring nature of its revenues. Moly-Cop sells products that
wear down over time, require continuous replenishment and are
critical in the processing of minerals. Its rating is also
supported by its low capital spending requirements, expectations
for positive free cash flow and its good liquidity profile.

Grinding Media's operating performance has materially deteriorated
in fiscal 2019 (ends June 2019) due to competitive pricing
pressures, higher electrode and alloy prices, and the impact of
foreign currency transaction losses. As a result, its adjusted
EBITDA has declined about 34% during the first half of the fiscal
year, and by about 12% excluding the foreign currency impact. This
has led to the company's leverage ratio (debt/EBITDA) rising to
8.0x and its interest coverage (EBIT/Interest) declining to 0.8x
for the LTM period ended December 31, 2018. These metrics are very
weak for the B3 rating, but are expected to improve in the near
term.

Moody's expects Grinding Media's operating results and credit
metrics to strengthen in fiscal 2020 as it benefits from cost
reduction and efficiency improvement initiatives, accretion from
the recent Donhad and SABO acquisitions, and debt pay downs with
free cash flow bolstered by improved working capital management.
The company may also benefit from the potential implementation of
more significant import tariffs on steel grinding balls in Chile,
which has implemented a temporary 9% tariff on imports from China
while it completes an anti-dumping investigation. However, even if
the company pays off its revolver borrowings and bank loans, which
Moody's estimates were about $100 million after the acquisition of
SABO in January 2019, it would still need to produce adjusted
EBITDA in the range of $160 million - $180 million to achieve
credit metrics that are commensurate with the B3 rating. The
company generated adjusted EBITDA of about $145 million over the
LTM period ended December 31, 2018 excluding the impact of foreign
currency transaction losses. Therefore, its metrics are not likely
to support a higher rating over the next 12 to 18 months.

Grinding Media has a good liquidity profile. The company had about
$148 million in unrestricted cash as of December 31, 2018 and about
$99 million of availability on its $160 million asset-based lending
facility that matures in January 2022. The company increased the
borrowing capacity of this facility to $160 million from $125
million in October 2018, and had $50.3 million of outstanding
borrowings as of December 2018. It used this facility and cash on
hand to fund the acquisition of SABO for €41.8 million
(approximately $47.6 million) in January 2019, but should be able
to pay off these borrowings with free cash flow during the second
half of the fiscal year.

The stable ratings outlook reflects the expectation the company's
operating results will significantly improve over the next 12 to 18
months, and its credit metrics will become commensurate with its
rating.

The ratings are not likely to be upgraded in the near term
considering the company's recent weak operating performance.
However, an upgrade would be considered if the company maintains a
leverage ratio below 5.0x and an interest coverage ratio of at
least 2.0x.

Negative rating pressure could develop if the leverage ratio is
sustained above 6.0x, interest coverage below 1.5x and cash flow
from operations below 10% of outstanding debt. A significant
reduction in borrowing availability or liquidity could also result
in a downgrade.

The principal methodology used in these ratings was Steel Industry
published in September 2017.

Grinding Media Inc., (Moly-Cop) has its North American headquarters
in Omaha, Nebraska and is a global manufacturer and supplier of
forged steel grinding media used extensively in the processing of
copper, gold and other minerals. Its products include steel balls
and grinding rods, which are primarily sold to customers located in
North and South America and Australasia. The company also produces
railway wheels and other steel products that are used mostly in the
mining sector. The company generated revenues of approximately
$1.35 billion for the trailing 12-month period ended December 31,
2018. American Industrial Partners is the majority owner of
Grinding Media.


GUIDED SYSTEMS: Taps Geiger Law as Legal Counsel
------------------------------------------------
Guided Systems Technologies, Inc. received approval from the U.S.
Bankruptcy Court for the Northern District of Georgia to hire
Geiger Law, LLC, as its legal counsel.

The firm will advise the Debtor of its powers and duties under the
Bankruptcy Code; represent the Debtor in negotiation with its
creditors; assist in the preparation of a plan of reorganization;
give advice in connection with any potential sale of its assets;
and provide other legal services in connection with its Chapter 11
case.

David Geiger, Esq., the attorney who will be handling the case,
charges an hourly fee of $330.

Mr. Geiger disclosed in a court filing that his firm is
"disinterested" as defined in section 101(14) of the Bankruptcy
Code.

The firm can be reached through:

     David A. Geiger, Esq.
     Geiger Law, LLC
     1275 Peachtree Street, NE, Suite 525
     Atlanta, GA 30309
     Tel: 404-815-0040
     Fax: 404-549-4312
     Email: david@geigerlawllc.com

                 About Guided Systems Technologies

Guided Systems Technologies, Inc., is an engineering firm, with a
focus on defense contracting and flight control, and has been in
business since 1989.  Over the past several years, several general
and specific events compounded and led to its current financial
difficulties.  It experienced the loss of a large  follow-on
engineering defense contract, and did not respond with an immediate
reduction in its workforce and other overhead, resulting in the
incurrence of significant expense without realization of
corresponding revenues.

Guided Systems Technologies sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. N.D. Ga. Case No. 18-61243) on July 5,
2018.  At the time of the filing, the Debtor estimated assets of
less than $50,000 and liabilities of $1 million to $10 million.
Judge Sage M. Sigler oversees the case.  The Debtor tapped Geiger
Law, LLC, as its legal counsel, and Consilium Partner Group, LLC as
its accountant.


HELIOS AND MATHESON: Raises $6 Million in New Round of Financing
----------------------------------------------------------------
Helios and Matheson Analytics Inc. has raised a $6 million new
round of financing.  Helios plans to use the net proceeds of the
financing to accelerate MoviePass' product development, fine tune
its subscription technology, and increase MoviePass Films'
investment in new films.

H.C. Wainwright & Co. acted as Helios' exclusive placement agent
for the offering.  Palladium Capital Advisors, LLC served as
Helios' financial advisor for the offering.

The closing of the offering occurred on March 25, 2019.

"We are building the infrastructure, data and tools that we believe
will power the next generation of MoviePass," said Ted Farnsworth,
Chairman and CEO of Helios.  "We believe this new funding will
allow us to double down on our development of transformative
technology, while fueling our continued expansion.  Our long-term
vision is for MoviePass to be the nation's most popular
movie-theater ticketing platform."

In connection with this new financing, Helios entered into
definitive agreements with certain institutional investors for the
purchase of 60,000 shares of Helios' Series B Preferred Stock,
which are convertible into 1,000,020,000 shares of its common
stock, and accompanying Series F-1 Preferred Stock Purchase
Warrants to purchase 59,760 Preferred Shares, which are convertible
into 996,019,920 shares of its common stock, and Series F-2
Preferred Stock Purchase Warrants to purchase 60,240 Preferred
Shares, which are convertible into 1,004,020,080 shares of its
common stock, in a registered direct offering.  The aggregate gross
proceeds of the offering were $6.0 million.  Each Preferred Share
is convertible into 16,667 shares of Helios' common stock.  The
Series F-1 Warrants will expire 5 years from the date of issuance.
The Series F-2 Warrants will be exercisable for 5 years from the
date Helios obtains stockholder approval of a reverse stock split
or an increase in its authorized common stock to allow for the
issuance of the shares of common stock underlying the Preferred
Shares issuable upon exercise of the Series F-2 Warrants.  The
exercise price of the Series F-1 Warrants and the Series F-2
Warrants is $100.00 per Preferred Share, subject to downward
adjustment in the event of certain subsequent financings and a
potential downward adjustment under certain circumstances following
a reverse stock split.

Concurrently with the issuance of the Preferred Shares, the Series
F-1 Warrants and the Series F-2 Warrants, Helios entered into
amendments with the holders of its Series C Warrants and Series D
Warrants to purchase an aggregate of 666,666,668 shares of common
stock, whereby the exercise price of those warrants has been
reduced from $0.0163 to $0.01 per share of common stock.

Helios has set March 25, 2019 as the record date for a special
meeting of its stockholders to approve a reverse stock split or an
increase in its authorized share capital.

In addition to using the net proceeds from the offering for working
capital purposes of Helios, MoviePass and MoviePass Films, Helios
will use the net proceeds to redeem approximately $870,000 of
Helios' outstanding non-convertible senior notes that were issued
on Oct. 4, 2018 and Dec. 18, 2018, and to pay certain fees due to
the placement agent and financial advisor and other transaction
expenses.  The potential gross proceeds from the Series F-1
Warrants and the Series F-2 Warrants, if fully exercised on a cash
basis, will be approximately $12.0 million.  No assurance can be
given that any of the Series F-1 Warrants or the Series F-2
Warrants will be exercised.

                   About Helios and Matheson

Helios and Matheson Analytics Inc. -- http://www.hmny.com/--
currently owns approximately 92% of the outstanding shares
(excluding options and warrants) of MoviePass Inc., a premier
movie-theater subscription service, 100% of the outstanding
membership interests in MoviePass Ventures LLC and 51% of the
outstanding membership interests in MoviePass Films LLC.  Helios's
holdings also include Zone Technologies, Inc., creator of RedZone
Map, a safety and navigation app for iOS and Android users, and a
community-based ecosystem that features a socially empowered safety
map app that enhances mobile GPS navigation using advanced
proprietary technology.  Helios is headquartered in New York, NY.

Helios and Matheson reported a net loss of $150.8 million for the
year ended Dec. 31, 2017, compared to a net loss of $7.38 million
for the year ended Dec. 31, 2016.  The Company's amended balance
sheet at Sept. 30, 2018, showed $134.30 million in total assets,
$68.86 million in total liabilities, and $65.44 million in total
stockholders' equity.

The report from the Company's independent accounting firm
Rosenberg
Rich Baker Berman, P.A., in Somerset, New Jersey, on the
consolidated financial statements for the year ended Dec. 31,
2017,
includes an explanatory paragraph stating that the Company has
suffered recurring losses from operations and negative cash flows
from operating activities.  This raises substantial doubt about
the
Company's ability to continue as a going concern.


HUMANIGEN INC: Incurs $12 Million Net Loss in 2018
--------------------------------------------------
Humanigen, Inc. has filed with the Securities and Exchange
Commission its Annual Report on Form 10-K reporting a net loss of
$12 million for the 12 months ended Dec. 31, 2018, compared to a
net loss of $21.98 million for the 12 months ended Dec. 31, 2017.

As of Dec. 31, 2018, Humanigen had $1.37 million in total assets,
$9.48 million in total liabilities, and a total stockholders'
deficit of $8.11 million.

HORNE LLP, in Ridgeland, Mississippi, the Company's auditor since
2015, issued a "going concern" qualification in its report dated
March 26, 2019, on the Company's consolidated financial statements
for the year ended Dec. 31, 2018, stating that the Company has
suffered recurring losses from operations and its total liabilities
exceed its total assets.  This raises substantial doubt about the
Company's ability to continue as a going concern.

The Company has incurred significant losses since its inception in
March 2000 and had an accumulated deficit of $274.6 million as of
Dec. 31, 2018.  At Dec. 31, 2018, the Company had a working capital
deficit of $7.0 million.  On Feb. 27, 2018, the Company issued
91,815,517 shares of common stock in exchange for the
extinguishment of all term loans, related fees and accrued interest
and received $1.5 million in cash proceeds.  On March 12, 2018, the
Company issued 2,445,557 shares of common stock for proceeds of
$1.1 million to accredited investors.  On June 4, 2018, the Company
issued 400,000 shares of common stock for proceeds of $0.2 million
to an accredited investor.  In June, July and August of 2018, the
Company received aggregate proceeds of $0.9 million from advances
made to the Company by four different lenders including Dr. Cameron
Durrant, the Company's chairman and chief executive officer; Cheval
Holdings, Ltd., an affiliate of Black Horse Capital, L.P., the
Company's controlling stockholder; and Ronald Barliant, a director
of the Company.  Commencing Sept. 19, 2018, the Company delivered a
series of convertible promissory notes evidencing an aggregate of
$2.5 million of loans made to the Company by six different lenders,
including an affiliate of Black Horse Capital, L.P., the Company's
controlling stockholder.  To date, none of the Company's product
candidates has 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.  The
Company will require additional financing in order to meet its
anticipated cash flow needs during the next twelve months.  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, could materially harm its business, financial
condition and results of operations," Humanigen stated in the
Report.

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

                      https://is.gd/pEMYpT

                        About Humanigen

Formerly known as KaloBios Pharmaceuticals, Inc., Humanigen, Inc.
(OTCQB: HGEN), -- http://www.humanigen.com/-- is a
biopharmaceutical company pursuing cutting-edge science to develop
its proprietary monoclonal antibodies for immunotherapy and
oncology treatments.  Derived from the company's Humaneered
platform, lenzilumab and ifabotuzumab are lead compounds in the
portfolio of monoclonal antibodies with first-in-class mechanisms.
Lenzilumab, which targets granulocyte-macrophage colony-stimulating
factor (GM-CSF), is in development as a potential medicine to make
chimeric antigen receptor T-cell (CAR-T) therapy safer and more
effective, as well as a potential treatment for rare hematologic
cancers such as chronic myelomonocytic leukemia (CMML) and juvenile
myelomonocytic leukemia (JMML).  Ifabotuzumab, which targets Ephrin
type-A receptor 3 (EphA3), is being explored as a potential
treatment for glioblastoma multiforme (GBM) and other deadly
cancers, as well as a platform for creation of CAR-T and bispecific
antibodies.  Humanigen is based in Brisbane, California.


IEA ENERGY: Moody's Cuts CFR to Caa2 & Alters Outlook to Negative
-----------------------------------------------------------------
Moody's Investors Service downgraded its ratings for IEA Energy
Services, LLC (IEA), including the company's Corporate Family
Rating (CFR; to Caa2 from B3) and Probability of Default Rating (to
Caa2-PD from B3-PD), and its Speculative Grade Liquidity Rating (to
SGL-4 from SGL-3). At the same time, Moody's downgraded IEA's first
lien senior secured credit facility ratings to Caa2, from B2. The
ratings outlook was changed to negative from stable.

The downgrades follow IEA's weak fourth quarter operating
performance. The company experienced significant cost overruns on
six of its nine major wind projects in 2018 owing to disruptions
stemming from severe weather across three states. These overruns
cost the company approximately $36 million, resulting in 2018 pro
forma EBITDA of approximately $80 to $85 million (versus prior
guidance of $110 to $130 million). Weaker than anticipated earnings
have significantly constrained liquidity, forcing the company to
fully draw its $50 million revolver in the fourth quarter. Weakened
liquidity, and the expectation that 2019 earnings will only provide
adequate coverage of the company's sizeable fixed charges, drove
Moody's ratings downgrades and outlook revision.

"The first half of 2019 will be a trying time for IEA as it has to
make final payments to subcontractors and employees for wind
projects completed in the fourth quarter," according to Harold
Steiner, Moody's lead analyst for IEA.

"While the back half of the year should provide some relief, with
the wind market remaining strong, the company's constrained
liquidity and balance sheet will hinder its ability to further
diversify before the critical PTC subsidy expiry in 2020," added
Steiner.

Moody's took the following rating actions:

Downgrades:

Issuer: IEA Energy Services, LLC

Corporate Family Rating, Downgraded to Caa2 from B3

Probability of Default Rating, Downgraded to Caa2-PD from B3-PD

Speculative Grade Liquidity Rating, Downgraded to SGL-4 from SGL-3

Gtd Senior Secured First Lien Revolving Credit Facility, Downgraded
to Caa2 (LGD3) from B2 (LGD3)

Gtd Senior Secured First Lien Term Loan, Downgraded to Caa2 (LGD3)
from B2 (LGD3)

Outlook Actions:

Issuer: IEA Energy Services, LLC

Outlook, Changed To Negative From Stable

RATINGS RATIONALE

IEA Energy Services, LLC's Caa2 CFR broadly reflects the company's
weak liquidity and inherent revenue volatility owing to its
dependence on the Renewable Energy Production Tax Credit (PTC).
Following cost overruns on a number of large wind projects in 2018,
IEA has no revolver availability, limited covenant cushion, and
only $70 million of cash to fund sizeable final project payments to
subcontractors and employees in early 2019. This precarious
liquidity situation leaves little room for operational disruptions
in the first half of 2019, but should improve in the back half of
the year as deposits come in for the company's next wave of wind
projects. Importantly, the company's constrained liquidity and
balance sheet will hinder its diversification efforts, aimed at
becoming less dependent on wind. Moody's believes that wind demand
will remain strong through 2020 but will decline precipitously once
the PTC expires. The Caa2 rating reflects this anticipated revenue
decline, and the difficulty the company could face in meeting its
significant fixed charges in light of said reduction. IEA continues
to benefit in the near-term from a sizeable backlog of more than $2
billion, supporting Moody's revenue expectations through 2020, and
an entrenched position in the wind power market.

The Caa2 rating on the senior secured first lien credit facilities
is the same as the Caa2 Corporate Family Rating. The lack of
notching reflects that the credit facilities make up the
preponderance of IEA's capital structure.

The negative outlook reflects the uncertainty surrounding the
company's ability to manage its precarious liquidity position in
2019, and the risk that further project execution issues or delays
could result in operating performance coming in weaker than current
guidance for 2019 suggests, with ensuing associated risk of a
further credit erosion.

The ratings could be downgraded if liquidity deteriorates further
or operating performance does not improve as expected. Ratings
could also be downgraded if a balance sheet restructuring, such as
a distressed exchange, seems increasingly likely.

While unlikely in the near-term given the negative outlook, the
ratings could be upgraded if IEA is able to diversify away from
wind and/or improve operating performance such that anticipated
2021 earnings provide good coverage of its sizeable fixed charges.
This could be prompted by an extension of the PTC.

The principal methodology used in these ratings was Construction
Industry published in March 2017.

Headquartered in Indianapolis, Indiana, IEA Energy Services, LLC is
an engineering, procurement and construction company that primarily
serves the wind farm construction, transportation and rail end
markets. IEA is a subsidiary of Infrastructure & Energy
Alternatives, Inc. (NASDAQ: IEA), which is majority-owned by
Oaktree Capital Management on a fully-diluted basis. Pro forma
revenue as of December 31, 2018 would have been approximately $1.25
billion.


INPIXON: Reports Q4 & 2018 Results and Provides Corporate Update
----------------------------------------------------------------
Inpixon reported financial results for the fourth quarter and year
ended Dec. 31, 2018 and provided an update on corporate
developments.  All numbers are presented after giving effect to the
reverse splits implemented on Feb. 6, 2018 and Nov. 2, 2018.

Fourth Quarter 2018 Financial Highlights:

   * 2018 Q4 revenue of $1.1 million
   * 2018 Q4 gross margin of 77%
   * 2018 Q4 GAAP net loss of $10.53 per share
   * 2018 Q4 Proforma Non-GAAP net loss of $3.05 per share
   * 2018 Q4 Non-GAAP Adjusted EBITDA loss of $4.2 million

Full Year Financial Highlights

  * 2018 revenue of $3.8 million
  * 2018 gross margin of 71%
  * 2018 GAAP net loss of $57.83 per share
  * 2018 Proforma Non-GAAP net loss of $24.18 per share
  * 2018 Non-GAAP Adjusted EBITDA loss of $15.0 million

"We believe 2018 was a pivotal year for Inpixon as we completed the
spin-off of our value-added reseller, Sysorex, and are now fully
focused on our mission to become an industry leader in the global
indoor location market, which is expected to grow from USD 7.11
Billion in 2017 to USD 40.99 Billion by 2022, at a compound annual
growth rate (CAGR) of 42.0%, according to Marketsandmarkets," said
Nadir Ali, CEO of Inpixon.  "Mobile devices are ubiquitous, and
contextual awareness, especially location of people and devices,
has become a priority for governments, retail, enterprise and even
schools."

"In 2018, we set out a plan to focus on developing our channel
partner network as a key to our growth globally.  We built a robust
pipeline of interest both domestically and in places like Central
America and the UK.  We announced development of the IPA Pod, a
Wi-Fi-based IPA sensor, to expand our product line and sales
opportunities into the market seeking IPA at an entry-level price
point.  In 2018, we also hired two key executives with decades of
expertise in security and retail that will help us continue to add
to our strong network of partners and ramp up our customer
acquisition efforts.  I'm very optimistic about 2019, as we focus
our efforts and resources towards growth both organically and
through acquisitions and to building a cash-flow positive business
as soon as possible," Mr. Ali concluded.
  
2018 Financial Results

Revenues for the year ended Dec. 31, 2018 were $3.8 million
compared to $3.9 million in 2017 for a decrease of approximately
$100,000 or 2.6%.  Revenues between the two comparable periods are
relatively flat due to an increase in the Company's IPA product
revenues which was offset by a decrease in its Shoom services
revenue.

Gross profit for the year ended Dec. 31, 2018 was $2.7 million
compared to $2.7 million in 2017.  The gross profit margin for the
year ended Dec. 31, 2018 was 71% compared to 69% for the year ended
Dec. 31, 2017.  This slight increase in margin is primarily due to
the sales mix of products and services sold during the year ended
Dec. 31, 2018.

Net loss attributable to stockholders of Inpixon for the year ended
Dec. 31, 2018 was $24.6 million compared to $35.0 million for the
comparable period in the prior year.  This decrease in net loss of
approximately $10.4 million was primarily attributable to the $2
million lower other income/expenses offset by the $3.4 million
increase in operating expenses during the year ended Dec. 31, 2018
plus the $12 million lower loss from deconsolidated operations of
the spin-off of Sysorex during the year ended Dec. 31, 2018.

2018 pro-forma non-GAAP net loss was $18.7 million, compared to a
non-GAAP net loss of $17.8 million for 2017.  Proforma non-GAAP net
loss per basic and diluted common share for the twelve months ended
Dec. 31, 2018 was ($24.18) compared to a loss of ($2,747.92) per
share for the prior year period.  Non-GAAP net loss per share is
defined as net loss per basic and diluted share adjusted for deemed
dividends and non-cash items including stock-based compensation,
amortization of intangibles and one time charges including gain on
the settlement of obligations, extinguishment loss for debt
modification, goodwill impairment, gain on earnout, debt
forgiveness, write- off of project expenses, provision for doubtful
accounts, gain on the sale of contracts and the costs associated
with the public offering.

Adjusted EBITDA for the year ended Dec. 31, 2018 was a loss of
$15.0 million compared to a loss of $12.1 million for the prior
year period.  Non-GAAP adjusted EBITDA is defined as net income
(loss) before interest, provision for income taxes, and
depreciation and amortization plus adjustments for other income or
expense items, non-recurring items and non-cash items.

2018 Business Highlights

   * Inpixon hired John Piccininni as VP of Business Development
   * Inpixon recruited retail industry veteran Adam Benson as CTO
   * Inpixon announced it successfully completed the spin-off of
its
     value-added reseller Sysorex
   * Inpixon provided a technology update on blockchain, voice-user

     interface, artificial intelligence and Amazon Web Services
   * Inpixon announced an expansion its international presence with
  
     new channel partnerships in Africa, Central America, North
     America, United Kingdom and Portugal
   * Inpixon partnered with wireless integration expert Genwave
     Technologies to provide commercial, industrial and federal
     customers with bigger, richer data stores
   * Inpixon announced IPA Pod development
   * Inpixon announced U.S. Federal Government to deploying
Portable
     Sensor Kit to empower Correctional Officers

2019 Business Highlights

   * Inpixon Closed Oversubscribed Rights Offering with Gross
     Proceeds of $12.0 Million

   * Inpixon's Shoom advertising services business unit surpassed
     126 million ads in its Shoom Advertising Information Network
    (SAIN) eTearSheets solution

   * Inpixon's Indoor Positioning Analytics Sensor 4000SE selected

     in connection with the development of "Smart School" safety
     network solution

   * Inpixon announced collaboration with SAS to deliver advanced
     analytics for Internet of Things (IoT)

   * Inpixon announced it entered into a reseller arrangement with

     Aislelabs

   * Inpixon announced it has been recognized by Gartner, Inc., an

     independent research firm, in the 2019 Gartner Magic Quadrant

     for Indoor Location Services, Global report

   * Inpixon announced the release of the Indoor Positioning
     Analytics (IPA) Connector for IBM MaaS360 with Watson
   
   * Inpixon Joined VMware Technology Alliance Partner Program as a

     standard level partner

   * Inpixon hired Andrew Chapman as VP Sales, Retail &
     Entertainment

A full-text copy of the press release is available for free at:

                      https://is.gd/TSok2F

                          About Inpixon

Headquartered in Palo Alto, California, Inpixon is a technology
company that helps to secure, digitize and optimize any premises
with Indoor Positioning Analytics (IPA) for businesses and
governments in the connected world.  Inpixon Indoor Positioning
Analytics is based on new sensor technology that finds all
accessible cellular, Wi-Fi, Bluetooth and RFID signals anonymously.
Paired with a high-performance, data analytics platform, this
technology delivers visibility, security and business intelligence
on any commercial or government premises worldwide.  Inpixon's
products, infrastructure solutions and professional services group
help customers take advantage of mobile, big data, analytics and
the Internet of Things (IoT).

Inpixon reported a net loss of $35.03 million for the year ended
Dec. 31, 2017, compared to a net loss of $27.50 million for the
year ended Dec. 31, 2016.  As of Dec. 31, 2018, Inpixon had $12.17
million in total assets, $7.37 million in total liabilities, and
$4.80 million in total stockholders' equity.

Marcum LLP, in New York, the Company's auditor since 2012, issued a
"going concern" opinion in its report on the Company's consolidated
financial statements for the year ended Dec. 31, 2017, citing that
the Company has a significant working capital deficiency, has
incurred significant losses and needs to raise additional funds to
meet its obligations and sustain its operations.  These conditions
raise substantial doubt about the Company's ability to continue as
a going concern.


INPRINT MANAGEMENT: Term of Plan Amended to Two Years
-----------------------------------------------------
InPrint Management, Inc., filed a disclosure statement with respect
to its proposed plan of reorganization dated March 19, 2019.

This latest filing changes the term of the plan to two years
following the Effective Date. The previous version of the plan
provided a one year term following the Effective Date.

A copy of the Disclosure Statement dated March 19, 2019 is
available at http://tinyurl.com/y3hehp5xfrom Pacermonitor.com at
no charge.

                 About Inprint Management

InPrint Management, Inc., sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Mass. Case No. 18-11931) on May 24,
2018.  In the petition signed by its president, Kevin Montecalvo,
the Debtor estimated assets of less than $50,000 and debt ranging
$500,000 to $1 million.  George J. Nader, Esq., at Riley & Dever,
P.C., serves as the Debtor's counsel.


INSYS THERAPEUTICS: Incurs $124.5 Million Net Loss in 2018
----------------------------------------------------------
Insys Therapeutics, Inc., has filed with the Securities and
Exchange Commission its Annual Report on Form 10-K reporting a net
loss of $124.50 million on $82.08 million of net revenue for the
year ended Dec. 31, 2018, compared to a net loss of $226.83 million
on $140.69 million of net revenue for the year ended Dec. 31,
2017.

As of Dec. 31, 2018, the Company had $192.52 million in total
assets, $235.62 million in total liabilities, and a total
stockholders' deficit of $43.10 million.

BDO USA, LLP, in Phoenix, Arizona, issued a "going concern"
qualification in its report on the Company's consolidated financial
statements for the year ended Dec. 31, 2018, citing that the
Company has suffered losses and negative cash flows from operations
and expects uncertainty in generating sufficient cash to meet its
legal obligations and settlements and sustain its operations.
These factors raise substantial doubt about the Company's ability
to continue as a going concern.

Net cash used in operating activities was $55.9 million and $60.6
million for the years ended Dec. 31, 2018 and 2017, respectively,
compared to net cash provided by operating activities of $58.9
million for the year ended Dec. 31, 2016.  The net cash used during
the year ended Dec. 31, 2018 primarily reflects the net loss for
the period driven by a reduction in SUBSYS net sales and changes in
working capital and payments in connection with litigation costs
and expenses, adjusted in part by depreciation and amortization,
stock-based compensation expense, and an impairment loss on
property and equipment.  The net cash used during the year ended
Dec. 31, 2017 primarily reflects the net loss for the period driven
by a reduction in SUBSYS net sales, adjusted in part by deferred
income tax benefit, depreciation and amortization and stock-based
compensation expense, and is also impacted by changes in working
capital and payments in connection with the settlement of the
investigations by the States of New Hampshire and Illinois, and the
settlement with Dr. Kottayil.

Net cash provided by investing activities was $53.4 million for the
year ended Dec. 31, 2018, compared to net cash used in investing
activities of $17.8 million and $22.0 million for the years ended
Dec. 31, 2017 and 2016, respectively.  Cash provided by investing
activities during 2018 consisted primarily of the net sale and
maturity of investments, partially offset by purchases of property
and equipment.  During 2017, the Company invested $1.1 million of
excess cash in short-term and long-term investments, net of
proceeds, and the Company also invested $16.7 million for purchases
of equipment and leasehold improvements.  During 2016, the Company
invested $11.4 million of excess cash in short-term and long-term
investments, net of proceeds, and the Company also invested $10.6
million for purchases of equipment and leasehold improvements.

Net cash provided by financing activities was $2.1 million and $5.8
million for the years ended Dec. 31, 2018 and 2017, respectively,
as compared to net cash used in financing activities of $11.8
million for the year ended Dec. 31, 2016.  During the year ended
Dec. 31, 2018, the Company received proceeds of $1.1 million from
the exercise of stock options and proceeds of $1.0 million from
shares issued under the Company's employee stock purchase plan.
During the year ended Dec. 31, 2017, the Company received proceeds
of $4.5 million from the exercise of stock options and proceeds of
$1.3 million from shares issued under its employee stock purchase
plan.  During the year ended Dec. 31, 2016, the Company expended
approximately $16.1 million to repurchase shares of its common
stock and recognized $1.7 million due to tax deficiencies on stock
options and awards, partially offset by proceeds from the exercise
of stock options of $3.8 million and proceeds from shares issued
under its employee stock purchase plan of $2.3 million.

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

                       https://is.gd/QstGa8

                           About INSYS

Headquartered in Chandler, Arizona, INSYS Therapeutics --
http://www.insysrx.com/-- is a specialty pharmaceutical company
that develops and commercializes innovative drugs and novel drug
delivery systems of therapeutic molecules that improve patients'
quality of life.  Using proprietary spray technology and
capabilities to develop pharmaceutical cannabinoids, INSYS is
developing a pipeline of products intended to address unmet medical
needs and the clinical shortcomings of existing commercial
products.  INSYS is committed to developing medications for
potentially treating anaphylaxis, epilepsy, Prader-Willi syndrome,
opioid addiction and overdose, and other disease areas with a
significant unmet need.


JLAN PROPERTIES: May 14 Plan Confirmation Hearing
-------------------------------------------------
The Bankruptcy Court issued an order approving first amended
disclosure statement explaining JLAN Properties, LLC's first
amended Chapter 11 plan.  Confirmation hearing to be held on May
14, 2019 at 09:30 AM.

The significant events during the Debtor's bankruptcy case are as
follows: The Debtor's cash flow will allow it to stay current with
its monthly mortgage obligations to ESSA Bank & Trust and with its
real estate tax obligations.  It will sell improved real estate
located at 309 Slope Street and pay the net proceeds (after typical
closing costs) to NBT Bank in satisfaction of the debt owed to it.

Secured claim of NBT Bank, which holds first position mortgage
liens on the 309 Slope Street property, classified in Class 2, will
sell this property and pay the net proceeds (after typical closing
costs) to NBT Bank, NA in full satisfaction of its claim.

A full-text copy of the First Disclosure Statement dated March 14,
2019, is available at http://tinyurl.com/yydhrjmefrom
PacerMonitor.com at no charge.

                About JLAN Properties

JLAN Properties, LLC, is a privately-held operator of
nonresidential buildings.

JLAN Properties sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. M.D. Pa. Case No. 18-04205) on October 4,
2018.  In the petition signed by Linda Teberio, managing member,
the Debtor estimated assets of less than $500,000 and liabilities
of less than $1 million.  Judge John J. Thomas presides over the
case.


KEY GOLF: Seeks to Hire Craig Dwyer as Bankruptcy Attorney
----------------------------------------------------------
Key Golf Construction, Inc., seeks approval from the U.S.
Bankruptcy Court for the Southern District of California to hire
legal counsel in connection with its Chapter 11 case.

The Debtor proposes to hire Craig Dwyer, Esq., an attorney based in
San Diego, California, to give legal advice regarding its duties
under the Bankruptcy Code and provide other legal services related
to the case.

The Debtor will pay the attorney an hourly fee of $400 for his
services.

Mr. Dwyer does not represent any interest adverse to the Debtor and
its bankruptcy estate, according to court filings.

Mr. Dwyer maintains an office at:

     Craig E. Dwyer, Esq.
     8745 Aero Drive, Suite 301
     San Diego, CA 92123
     Phone: 858-268-9909
     Fax: 858-268-4230
     E-mail: craigedwyer@aol.com

                  About Key Golf Construction

Key Golf Construction, Inc., sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. S.D. Cal. Case No. 19-01285) on March
8, 2019.  At the time of the filing, the Debtor estimated assets of
less than $500,000 and liabilities of less than $500,000.  The case
is assigned to Judge Laura S. Taylor.  Craig E. Dwyer, Esq., in San
Diego, CA, is the Debtor's bankruptcy attorney.



LASV INC: Seeks to Hire Eugene D. Roth as Legal Counsel
-------------------------------------------------------
LASV Inc. seeks approval from the U.S. Bankruptcy Court for the
District of New Jersey to hire the Law Office of Eugene D. Roth as
its legal counsel.

The firm will advise the Debtor of its rights and obligations under
the Bankruptcy Code; assist the Debtor in preparing a plan of
reorganization; and provide other legal services in connection with
its Chapter 11 case.

Roth will be paid at these hourly rates:

     Eugene Roth, Esq.     $475
     Legal Assistant        $95

The proposed initial retainer is $10,000.

The firm is "disinterested" as defined in section 101(14) of the
Bankruptcy Code, according to court filings.

Roth can be reached through:

     Eugene D. Roth, Esq.
     Law Office of Eugene D. Roth
     Valley Pk. East
     2520 Hwy 35, Suite 307
     Manasquan, NJ 08736
     Tel: (732) 292-9288
     Fax: (732) 292-9303
     Email: erothesq@gmail.com

                        About LASV Inc.

LASV Inc., a privately held company in Seaside Heights, New Jersey,
sought protection under Chapter 11 of the Bankruptcy Code (Bankr.
D.N.J. Case No. 19-14218) on Feb. 28, 2019.  At the time of the
filing, the Debtor estimated assets of less than $50,000 and
liabilities of $1 million to $10 million.  The case is assigned to
Judge Kathryn C. Ferguson.  The Law Office of Eugene D. Roth is the
Debtor's counsel.



LIGHTHOUSE HOSPITALITY: Seeks to Hire Coan Lewendon as Counsel
--------------------------------------------------------------
Lighthouse Hospitality LLC seeks approval from the U.S. Bankruptcy
Court for the District of Connecticut to hire Coan, Lewendon,
Gulliver & Miltenberger, LLC, as its legal counsel.

The firm will advise the Debtor with respect to its business,
operations and management of its property; negotiate arrangements
with creditors concerning their claims and treatment of their
claims in a plan of reorganization; assist the Debtor in the
preparation of a plan; and provide other legal services in
connection with its Chapter 11 case.

Coan Lewendon will be paid at these hourly rates:

     Partners            $430
     Counsel             $320
     Associates          $250
     Paralegals       $95 - $110

Carl Gulliver, Esq., at Coan Lewendon, disclosed in a court filing
that his firm is "disinterested" as defined in Section 101(14) of
the Bankruptcy Code.

The firm can be reached through:

     Carl T. Gulliver, Esq.
     Coan, Lewendon, Gulliver & Miltenberger, LLC
     495 Orange Street
     New Haven, CT 06511
     Tel: (203) 624-4756
     Fax: 203-865-3673
     Email: cgulliver@coanlewendon.com

                    About Lighthouse Hospitality

Lighthouse Hospitality LLC, which conducts business as Tidewater
Inn, operates a three-star hotel in Madison, Connecticut.  The
hotel's guestrooms have a private en-suite bathroom with a shower,
air conditioning, cable television, and wireless internet access.

Lighthouse Hospitality sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Conn. Case No. 19-30387) on March 14,
2019.  At the time of the filing, the Debtor estimated assets of $1
million to $10 million and liabilities of less than $1 million.
The case is assigned to Judge Ann M. Nevins.  Coan, Lewendon,
Gulliver & Miltenberger, LLC, is the Debtor's counsel.



LINDEN CAB: Case Summary & 10 Unsecured Creditors
-------------------------------------------------
Two affiliates that have filed voluntary petitions seeking relief
under Chapter 11 of the Bankruptcy Code:

       Debtor                                    Case No.
       ------                                    --------
       Linden Cab Corp.                          19-10872
       170 W. 23rd Street
       Apartment 6V
       New York, NY 10011
  
       Gala Service Corp.                        19-10874
       170 W. 23rd Street
       Apartment 6V
       New York, NY 10011

Business Description: Linden Cab and Gala Service are privately
                      held companies in the taxi and limousine
                      service industry.

Chapter 11 Petition Date: March 26, 2019

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

Judge: Hon. James L. Garrity Jr.

Debtors' Counsel: Gary C. Fischoff, Esq.
                  BERGER, FISCHOFF, SHUMER,
                  WEXLER & GOODMAN, LLP
                  6901 Jericho Turnpike, Suite 230
                  Syosset, NY 11791
                  Tel: (516) 747-1136
                  Fax: (516) 747-0382
                  Email: gfischoff@sfbblaw.com
                         gfischoff@bfslawfirm.com
                         hberger@bfslawfirm.com

Linden Cab's
Total Assets: $317,368

Linden Cab's
Total Liabilities: $1,403,699

Gala Service's
Total Assets: $310,468

Gala Service's
Total Liabilities: $1,404,752
  
The petitions were signed by Mitchell Cohen, president.

A full-text copy of Linden Cab's petition containing, among other
items, a list of the Debtor's 10 unsecured creditors is available
for free at:

         http://bankrupt.com/misc/nysb19-10872.pdf

A full-text copy of the petition containing, among other items, a
list of the Debtor's 10 unsecured creditors is available for free
at:

         http://bankrupt.com/misc/nysb19-10874.pdf


MDC PARTNERS: Moody's Cuts CFR to B3 & Affirms B3 for $900MM Notes
------------------------------------------------------------------
Moody's Investors Service downgraded MDC Partners Inc.'s corporate
family rating (CFR) to B3 from B2 and the $900 million senior
unsecured note was affirmed at B3. The outlook remains stable.

The downgrade was due to weak performance in 2018 that resulted in
pro forma leverage increasing to approximately 7.1x as of Q4 2018
from 5.9x as of Q4 2017. Excluding the impact of ASC 606 accounting
(which reduced revenue by $52 million and reduced costs by $62
million) pro forma leverage would be 7.6x as of Q4 2018. The
company also announced the completion of its strategic review that
resulted in the Stagwell Group investing $100 million in common and
preferred stock and the appointment of Mark Penn as the new CEO of
the company.

MDC also amended its revolving credit facility and increased the
total leverage ratio to 6.25x from 5.5x until it reverts back to
5.5x in Q1 2021 and reduced the size of the revolver to $250
million from $325 million. The reduction in the size of the
revolver improved the relative position of the notes in the debt
structure which supported the affirmation of the B3 rating for the
unsecured notes. The company also announced the sale of Kingsdale
Advisors for cash plus the assumption of certain liabilities
totaling $50 million. The investment from Stagwell, the appointment
of a new CEO, and temporary revolving amendment are all positives.
However, the completion of the strategic review still leaves the
company highly levered and the company will lose the EBITDA
contribution from Kingsdale with only a relatively modest amount of
debt reduction from the sale.

Moody's expects modest revenue and EBITDA growth in 2019 and that
investment from Stagwell will result in a reduction in revolver
outstanding. The decline in deferred acquisition consideration
obligations from required payments will also lead to a reduction in
debt, but the leverage will remain very high and be more in line
with a B3 CFR rating. The advertising industry is expected to
remain highly competitive as new entrants seek to gain additional
market share and ad budgets focus on digital media platforms.

A summary of Moody's actions are as follows:

Affirmations:

Issuer: MDC Partners Inc.

Speculative Grade Liquidity Rating, Affirmed SGL-3

Senior Unsecured Regular Bond/Debenture, Affirmed B3 (LGD4)

Downgrades:

Issuer: MDC Partners Inc.

Corporate Family Rating, Downgraded to B3 from B2

Probability of Default Rating, Downgraded to B3-PD from B2-PD

Outlook Actions:

Issuer: MDC Partners Inc.

Outlook, Remains Stable

RATINGS RATIONALE

The B3 CFR reflects MDC's very high leverage level of approximately
7.1x as of Q4 2018 (including deferred acquisition consideration
and minority interest puts as debt, but excluding lease
adjustments) or 7.6x excluding the impact of the ASC 606 adoption.
The challenging industry fundamentals in the advertising industry
including new competition from consulting firms, shifts in ad
spending to large scale technology companies and digital media
platforms as well as reduced ad budgets from some key advertisers
are expected to continue. The relatively small size of the company
compared to much larger competitors elevates the risks to the
company at a time of disruption in the industry. The appointment of
a new CEO with a background in digital advertising with
relationships in the industry is a positive. The recent period of
weak performance follows improved performance in 2017 as the
company reduced leverage from both EBITDA growth and debt
repayment, and resolved an investigation by the SEC for a minimal
settlement amount. The company also raised $95 million of
convertible preferred equity in early 2017 to boost liquidity and
paydown debt and had pursued a less aggressive financial policy
following the resignation of the former CEO and founder in 2015.
While relatively small in size, the company is comprised of a
number of individual high profile agencies with an extensive
service offering. The business also benefits from a diversified
industry model and client base which is not reliant on any one
client or industry.

The liquidity position is adequate as indicated by its SGL-3
rating. The cash balance is $31 million and the $250 million
revolver following the recent reduction in size had $68 million
drawn as of Q4 2018. The Stagwell investment is expected to lead to
a repayment of a material portion of the outstanding revolver. The
revolving credit facility is subject to a senior leverage ratio of
not greater than 2x, total leverage ratio of not greater than 6.25x
until Q1 2021 when its reverts of 5.5x, fixed charge ratio of not
less than 1.1x, and minimum EBITDA test of $105 million (as defined
by the credit agreement). The cushion of compliance with the total
leverage test has improved with the amendment and is at 5.2x as of
Q4 2018 compared to the 6.25x test. Reliance on the revolver is
usually the highest during the first half of year when the majority
of the deferred acquisition payments are due and free cash flow is
negative, but the proceeds from the investment are expected to
reduce the company's outstanding balance in 2019.

Free cash flow in 2018 was negative $17 million in 2018 and capex
was $20 million which is less than the $33 million spent in 2017.
The dividend payment was suspended in November 2016 to improve
liquidity. The total deferred acquisition consideration is $84
million as of Q4 2018 (down from $122 million in 2017, $230 million
in 2016, and $347 million in 2015) with the current portion of $33
million and a long term portion of $51 million. The amount of the
deferred acquisition consideration will be impacted by the
performance of the partner agencies in addition to payments made.
The put rights balance to the company is $17.3 million. An
additional amount of $32 million (down from $42 million in 2017,
$43 million in 2016, $49 million in 2015 and $175 million in 2014)
is potentially putable to the company upon termination or death of
specific employees (which is not included in Moody's leverage
calculation).

The outlook is stable due to the benefit of the new investment from
Stagwell and potential costs savings. Leverage is expected to
decline from a reduction in debt and modest EBITDA growth to below
the 6.5x range. However, the challenging trends in the advertising
industry are expected to provide continuing headwinds for the
company

The rating would be downgraded if leverage exceeded 7.5x (as
calculated by Moody's) or due to elevated concern about its ability
to service its debt. A weakening of its liquidity profile after
acquisition consideration payments, minority interest puts, and
interest expense would also lead to negative rating pressure.

Positive rating pressure could develop if leverage declined to less
than 6x on a sustained basis with positive organic revenue and
EBITDA growth. Free cash flow as a percentage of debt of
approximately 5% and a good liquidity position with an adequate
cushion of compliance with its financial covenants on its revolver
would also be required.

The principal methodology used in these ratings was Business and
Consumer Service Industry published in October 2016.

MDC Partners Inc. (MDC) is a marketing, advertising, activation,
communications and strategic consulting solutions company. MDC's
partner agencies include Anomaly, Crispin Porter Bogusky, Doner,
Forsman & Bodenfors, and 72andSunny as well as numerous other
partner agencies. Revenue for the LTM period ending 2018 was $1.5
billion.


MESOBLAST LIMITED: Appoints Joseph Swedish as Chairman
------------------------------------------------------
Mesoblast Limited has appointed Joseph R. Swedish as non-executive
Chairman.  Mr Swedish will succeed outgoing Chairman Brian
Jamieson, who is retiring from the Board on March 31, 2019.

Mesoblast Chief Executive Dr Silviu Itescu said: "As Mesoblast
transitions to a commercial stage company, we welcome the deep
healthcare expertise of Joe Swedish in the role of Chairman.  In
particular his track record in healthcare resource allocation and
reimbursement metrics will be a tremendous asset as we plan our
first product launch in the United States.

"I am very appreciative of Brian Jamieson's valuable contributions,
insights and commitment during Mesoblast's growth and development
phases."

Mr. Swedish most recently served as chairman, president and CEO of
Anthem Inc., a Fortune 29 company and the leading health benefits
provider in the U.S.  For 12 consecutive years, Modern Healthcare
named Mr. Swedish as one of the 100 Most Influential People in
Healthcare, ranking in the top 20 of the health sector's most
senior-level executives, high-level government administrators,
elected officials, academics, and thought-leaders for five
consecutive years.  He has been a Mesoblast board member since June
2018, and also serves on the boards of IBM Corporation, CDW
Corporation, Proteus Digital Health, and Centrexion Therapeutics.

Commenting on his appointment, Mr. Swedish said: "I am very pleased
to be appointed Chairman of this world-leading cellular medicines
company, whose business strategy is aligned with my objectives to
deliver innovative solutions to critical healthcare challenges."

                         About Mesoblast

Headquartered in Melbourne, Australia, Mesoblast Limited (ASX:MSB;
Nasdaq:MESO) -- http://www.mesoblast.com/-- is a global developer
of innovative cell-based medicines.  The Company has leveraged its
proprietary technology platform to establish a broad portfolio of
late-stage product candidates with three product candidates in
Phase 3 trials - acute graft versus host disease, chronic heart
failure and chronic low back pain due to degenerative disc disease.
Through a proprietary process, Mesoblast selects rare mesenchymal
lineage precursor and stem cells from the bone marrow of healthy
adults and creates master cell banks, which can be industrially
expanded to produce thousands of doses from each donor that meet
stringent release criteria, have lot to lot consistency, and can be
used off-the-shelf without the need for tissue matching.  Mesoblast
has facilities in Melbourne, New York, Singapore and Texas and is
listed on the Australian Securities Exchange (MSB) and on the
Nasdaq (MESO).

Mesoblast reported a net loss attributable to the owners of
Mesoblast of US$35.29 million for the year ended June 30, 2018,
compared to a net loss attributable to the owners of Mesoblast of
US$76.81 million for the year ended June 30, 2017.  As of Dec. 31,
2018, the Company had US$688.33 million in total assets, US$163.77
million in total liabilities, and US$524.55 million in total
equity.

PricewaterhouseCoopers, in Melbourne, Australia, the Company's
auditor since 2008, issued a "going concern" opinion in its report
on the consolidated financial statements for the year ended June
30, 2018.  The auditors noted that the Company has suffered
recurring losses from operations that raise substantial doubt about
its ability to continue as a going concern.


MESOBLAST LIMITED: Licensee Files for Marketing Approval of TEMCELL
-------------------------------------------------------------------
Mesoblast Limited's licensee in Japan, JCR Pharmaceuticals Co.
Ltd., has filed to extend marketing approval of TEMCELL HS Inj. for
use in patients with Epidermolysis Bullosa (EB).  TEMCELL is
already approved for the treatment of acute graft versus host
disease (aGVHD), and was the first allogeneic cellular medicine to
receive full regulatory approval in Japan.

The parties have amended their License Agreement in order for JCR
to access Mesoblast's mesenchymal stem cell (MSC) wound healing
patents to enable it to develop and commercialize TEMCELL for EB.
Mesoblast will receive royalties on TEMCELL product sales for EB.

JCR has received Orphan Designation for TEMCELL in the treatment of
EB based on promising results from an investigator-initiated trial
at Osaka University Hospital where TEMCELL was subcutaneously
administered.  JCR also intends to seek a label extension for
TEMCELL in Japan for intravenous delivery of TEMCELL.

Mesoblast will have access to clinical data generated by JCR in
Japan to support development and commercialization of its MSC
product candidate remestemcel-L in markets outside Japan for EB and
other wound healing applications.  Mesoblast plans to file for
United States FDA regulatory approval of remestemcel-L shortly for
the treatment of aGVHD.

There are many genetic and symptomatic variants of EB, with all
sharing the prominent symptom of extremely fragile skin that
blisters and tears from minor friction or trauma.  Internal organs
and bodily systems can also be seriously affected by the disease.
EB is always painful, often pervasive and debilitating, and is in
some cases lethal before the age of 30.  The international branch
of the Dystrophic Epidermolysis Bullosa Research Association (DEBRA
International) reports that there are approximately 25,000 people
with EB in the United States.  Currently, there are no effective
treatments available.

                         About Mesoblast

Headquartered in Melbourne, Australia, Mesoblast Limited (ASX:MSB;
Nasdaq:MESO) -- http://www.mesoblast.com/-- is a global developer
of innovative cell-based medicines.  The Company has leveraged its
proprietary technology platform to establish a broad portfolio of
late-stage product candidates with three product candidates in
Phase 3 trials - acute graft versus host disease, chronic heart
failure and chronic low back pain due to degenerative disc disease.
Through a proprietary process, Mesoblast selects rare mesenchymal
lineage precursor and stem cells from the bone marrow of healthy
adults and creates master cell banks, which can be industrially
expanded to produce thousands of doses from each donor that meet
stringent release criteria, have lot to lot consistency, and can be
used off-the-shelf without the need for tissue matching.  Mesoblast
has facilities in Melbourne, New York, Singapore and Texas and is
listed on the Australian Securities Exchange (MSB) and on the
Nasdaq (MESO).

Mesoblast reported a net loss attributable to the owners of
Mesoblast of US$35.29 million for the year ended June 30, 2018,
compared to a net loss attributable to the owners of Mesoblast of
US$76.81 million for the year ended June 30, 2017.  As of Dec. 31,
2018, the Company had US$688.33 million in total assets, US$163.77
million in total liabilities, and US$524.55 million in total
equity.

PricewaterhouseCoopers, in Melbourne, Australia, the Company's
auditor since 2008, issued a "going concern" opinion in its report
on the consolidated financial statements for the year ended June
30, 2018.  The auditors noted that the Company has suffered
recurring losses from operations that raise substantial doubt about
its ability to continue as a going concern.


METWOOD INC: Turner, Stone & Company Raises Going Concern Doubt
---------------------------------------------------------------
Between Feb. 22 and March 12, Metwood, Inc. filed with the U.S.
Securities and Exchange Commission its financial reports for the
years ended June 30, 2016 and 2017; and quarters ended Sept. 30,
2016, Dec. 31, 2016 and March 31, 2017.

In its June 2017 annual report, Metwood a net loss of $434,612 on
$1,864,222 of gross sales.  It posted a net loss of $659,896 on
$1,781,062 of gross sales for the year ended June 30, 2016,
compared to a net loss of $718 on $1,722,261 of gross sales for the
year ended in 2015.

Both audit reports of Turner, Stone & Company, L.L.P. state that
the Company has suffered recurring losses from operations which
raise substantial doubt about its ability to continue as a going
concern.

During the year ended June 30, 2017, the Company incurred a loss
from operations of $434,612 and has an accumulated deficit of
$1,671,189.  During the year ended June 30, 2016, it incurred a
loss from operations of $446,210 and has an accumulated deficit of
$1,236,577.

At June 30, 2017, the Company had total assets of $1,254,533, total
liabilities of $293,719, and a total stockholders' equity of
$960,814.  The Company's balance sheet at June 30, 2016, showed
total assets of $1,314,406, total liabilities of $280,980, and a
total stockholders' equity of $1,033,426.

A copy of the 2017 Form 10-K is available at
https://bit.ly/2Fu8s5w

A copy of the 2016 Form 10-K is available at
https://bit.ly/2NRttuH

Metwood, Inc. provides construction-related products and
engineering services to residential customers and contractors,
commercial contractors, developers, and retail enterprises in
Virginia and North Carolina.  It sells its products directly to
lumberyards, home improvement stores, hardware stores, and plumbing
and electrical suppliers, as well as through distributors.
Metwood, Inc. is based in Boones Mill, Virginia.



MP&K LAND: Seeks to Hire Eron Law as Legal Counsel
--------------------------------------------------
MP&K Land and Livestock Company, LLC, seeks approval from the U.S.
Bankruptcy Court for the District of Kansas to hire Eron Law, P.A.,
as its legal counsel.

The firm will advise the Debtor of its rights, powers and duties
under the Bankruptcy Code; assist the Debtor in the negotiation and
documentation of financing agreements and related
transactions; prepare a bankruptcy plan; and provide other legal
services in connection with its Chapter 11 case.

Eron Law will be paid at these hourly rates:

     David Prelle Eron     $300
     January Bailey        $225
     Laura Prelle          $100
     Paralegal              $85
     Legal Assistant        $85

The firm was provided a retainer fee in the amount of $15,000.

David Prelle Eron, Esq., shareholder and CEO of Eron Law, disclosed
in a court filing that he and other attorneys of his firm neither
hold nor represent any interest
adverse to the Debtor's bankruptcy estate.

The firm can be reached through:

     David Prelle Eron, Esq.
     Eron Law, P.A.
     229 E. William, Suite 100
     Wichita, KS 67202
     Phone: 316-262-5500
     Fax: 316-262-5559
     Email: david@eronlaw.net

               About MP&K Land and Livestock Company

MP&K Land and Livestock Company, LLC, is a privately held company
in the livestock industry based in Lebanon, Kansas.

MP&K Land and Livestock Company sought protection under Chapter 11
of the Bankruptcy Code (Bankr. D. Kan. Case No. 19-10352) on March
13, 2019.  At the time of the filing, the Debtor disclosed
$1,540,000 in assets and $2,527,744 in liabilities.  The case is
assigned to Judge Robert E. Nugent.  Eron Law, P.A., is the
Debtor's counsel.



MUELLER BROS.: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Two affiliates that have filed voluntary petitions seeking relief
under Chapter 11 of the Bankruptcy Code:

      Debtor                                     Case No.
      ------                                     --------
      Mueller Bros., Inc.                        19-16041
      156 CentralAve
      Newark, NJ 07103

      Mueller's Supply, Inc.                     19-16043

Business Description: Mueller Bros., Inc. and Mueller Supply
                      Company Inc. are wholesalers of flowers
                      and florist supplies.

Chapter 11 Petition Date: March 26, 2019

Court: United States Bankruptcy Court
       District of New Jersey (Newark)

Debtors' Counsel: Daniel M. Stolz, Esq.
                  WASSERMAN, JURISTA & STOLZ, P.C.
                  110 Allen Road, Suite 304
                  Basking Ridge, NJ 07920
                  Tel: (973) 467-2700
                  Email: dstolz@wjslaw.com
                         attys@wjslaw.com

                    - and -

                  Leonard C. Walczyk, Esq.
                  WASSERMAN, JURISTA & STOLZ, P.C.
                  110 Allen Road, Suite 304
                  Basking Ridge, NJ 07920
                  Tel: (973) 467-2700
                  Email: lwalczyk@wjslaw.com

Mueller Bros.'s
Total Assets: $441,120

Mueller Bros.'s
Total Liabilities: $2,117,585

The petitions were signed by Frederick C. Mueller, president.

A full-text copy of Mueller Bros.'s petition containing, among
other items, a list of the Debtor's 20 largest unsecured creditors
is available for free at:

          http://bankrupt.com/misc/njb19-16041.pdf


NEIMAN MARCUS: Reaches Agreement to Extend Debt Maturities
----------------------------------------------------------
Neiman Marcus Group LTD LLC has entered into a transaction support
agreement with lenders representing more than 55% of the Company's
Term Loan and holders of more than 60% of the Company's Unsecured
Notes.  The transactions contemplated by the TSA will extend the
maturities of participating debt by three years, which will provide
the Company with significantly more runway to implement its
transformation plan.

Key Terms

The transactions contemplated by the TSA will extend the maturities
of participating debt to (i) October 2023 for the Term Loans
(subject to a 'springing maturity date' on July 16, 2021 in the
event that more than $150 million of unexchanged Unsecured Notes
are not fully repaid, redeemed or extended beyond April 2024 prior
to the 'springing maturity date') and (ii) October 2024 for the
Unsecured Notes, and require the Company to effect, among other
things:

* An amendment to the Term Loan in which Participating Term Loan
  Lenders will receive:

   - a $550 million paydown at par, funded primarily with the
     Company's issuance of fully-committed new second lien notes;
     and

   - enhanced credit protections, including an increase in
interest
     rate and amortization, call protection, a substantial
     collateral package enhancement and more restrictive negative
     covenants.

* An exchange offer in respect of the Company's 8.00% Senior Notes

  due 2021 and the 8.75% cash / 9.50% PIK Toggle Notes due 2021 in

  which Participating Unsecured Noteholders will receive a
  combination of:

   - $250 million of 10.00% non-voting cumulative preferred equity

     of a U.S. holding company of NMG Germany GmbH, which holds the

     entities through which MyTheresa's business is conducted, and

   - new third lien notes due 2024 with:

      - the same cash interest rates as the Unsecured Notes;

      - a collateral package consisting primarily of a first lien
        security interest in $200 million of currently
unencumbered
        real estate, a third lien security interest on the expanded

        term loan priority collateral, and a first lien security
        interest on 50% of the common equity of MT Issuer; and

      - more restrictive negative covenants governing the new
third
        lien notes.

The New Second Lien Notes will be guaranteed up to $200 million on
a senior secured basis by the direct parent and the subsidiaries
(other than NMG Germany GmbH and its subsidiaries) of MT Issuer.
In addition, among other security, the New Second Lien Notes will
be secured on a second lien basis by certain collateral securing
the Term Loans, and on a second lien basis by the PropCo Assets.

The TSA also provides for a mutual release by the participating
debt holders and the Company of the participating debt holders (and
any transferees of Unsecured Notes or Term Loans, as applicable)
relating to, among other things, the transactions contemplated by
the TSA, and designations of certain entities as "unrestricted"
subsidiaries under the applicable debt documents and distributions
of such entities.  In particular, upon consummation of the
transactions contemplated by the TSA, all claims related to the
Company's distribution of MyTheresa will be resolved and the loan
agreement and indentures will provide that non-participants will be
precluded from bringing claims related thereto.

The Company expects to commence the exchange offer in April.
  
Geoffroy van Raemdonck, chief executive officer of Neiman Marcus
Group, stated "This transaction provides substantial value to our
lenders and creates ample runway to execute on and complete Neiman
Marcus Group's transformation plan into a luxury customer platform.
The commitments we have obtained for this transaction are a
validation of our business and transformation strategy and our
leadership team.  We are appreciative of our lenders for their
support and for the confidence they have put in our long-term
success."

Joinder Fee

A joinder fee of 25 bps (post-paydown) will be payable to Term Loan
Lenders who execute a joinder to the TSA by April 1, 2019 at 5:00
p.m. ET.  A joinder fee of 100 bps will be payable to Unsecured
Noteholders who execute a joinder to the TSA by April 1, 2019 at
5:00pm ET.  A form of joinder agreement is attached as Exhibit B to
the TSA and can be obtained at
http://neiman.gcs-web.com/investor-information/presentations. The
instructions for transmission of executed joinder agreements are
also provided.

Non-Participating Holders

The liens of non-participating Term Loan Lenders on the Existing
Term Loan Priority Collateral will be subordinated below those of
all other lienholders, unless the Company determines otherwise.
Due to limitations in the Term Loan Amendment, the indenture
governing the new second lien notes, and the indenture governing
the new third lien notes, it is expected that any Term Loan Lenders
and Unsecured Noteholders who do not participate in the
transactions contemplated by the TSA will be unable to participate
in a transaction on these terms at a future date.

Specifically, the Unsecured Notes of non-participating Unsecured
Noteholders will remain unsecured and structurally subordinated and
will forgo the joinder fee and the opportunity to exchange their
Unsecured Notes into a combination of new third lien notes of the
Company and preferred equity of MT Issuer.  It is also expected
that, in connection with the proposed exchange offer, the
indentures governing the Unsecured Notes will be amended to, among
other things, remove most of the negative covenants, related
default provisions and other provisions and make other
modifications. In addition, the covenants governing the Company's
debt instruments following the transactions contemplated by the TSA
will limit cash paydowns of the Unsecured Notes and Term Loans in
the future, even at maturity, with only a $60 million basket
available to pay off non-participating holders in cash, subject to
certain limitations.

Conditions to Closing

The closing of the transactions contemplated by the TSA is
conditioned on the satisfaction or waiver of certain conditions
precedent, including finalizing all definitive documents and
achieving certain participation thresholds.  Specifically, the TSA
requires participation by holders of at least 95% of the
outstanding principal amount of the Term Loans and 95% of the
aggregate outstanding principal amount of the Unsecured Notes.
These thresholds may be lowered by the Company in its sole
discretion.

MyTheresa Entities

Under the terms of the MT Issuer preferred stock, NMG Germany GmbH
and its subsidiaries, the entities that conduct the operations of
MyTheresa, will be subject to certain covenants (distinct from the
negative covenants applicable to the Company and its restricted
subsidiaries), designed to enable those entities to continue to
operate in the ordinary course.  However, the MT Operating Entities
will not provide any direct guarantees or equity pledges in
connection with the transactions contemplated by the TSA and will
not be responsible for paying any fees or expenses under the TSA.
These entities remain outside of the Company's credit structure and
will continue to operate as a standalone business.

Additional Information & Advisors Contact Information

Please direct all questions with respect to the execution and
delivery of signature pages and Indications of Interest to:

   Tyler Cowan
   Managing Director Lazard
   (312) 407-6657
   tyler.cowan@lazard.com

   Mike Weitz
   Vice President Lazard
   (312) 407-6643
    michael.weitz@lazard.com

    Zul Jamal
    Managing Director Moelis
    (877) 606-7269
    zul.jamal@moelis.com
  
    Ben Oren
    Managing Director Credit Suisse
    (212) 538-1862
    ben.oren@credit-suisse.com

A full-text copy of the Transaction Support Ageement is available
for free at: https://is.gd/J6A9CP

Kirkland & Ellis LLP is serving as legal counsel to the Company and
Lazard Freres, Credit Suisse and Moelis & Company LLC are serving
as the Company's financial advisors.  Wachtell, Lipton, Rosen &
Katz is serving as legal counsel, and Ducera Partners LLC is
serving as financial advisor, to a steering committee of Term Loan
Lenders. Paul, Weiss, Rifkind, Wharton & Garrison, LLP is serving
as legal counsel, and Houlihan Lokey Capital, Inc. is serving as
financial advisor, to an ad hoc group of Unsecured Noteholders.

                       About Neiman Marcus

Headquartered in Dallas, Texas, Neiman Marcus Group LTD LLC --
http://www.neimanmarcusgroup.com/-- is a luxury, multi-branded,
omni-channel fashion retailer conducting integrated store and
online operations under the Neiman Marcus, Bergdorf Goodman, Last
Call, Horchow, and mytheresa brand names.

Neiman Marcus reported net earnings of $251.1 million in fiscal
year 2018 compared to a net loss of $531.8 million in the fiscal
year 2017.  As of Jan. 26, 2019, the Company had $7.26 billion in
total assets, $810.24 million in total current liabilities, $6.04
billion in total long-term liabilities, and $412.90 million in
total member equity.

                           *    *    *

As reported by the TCR on Oct. 30, 2018, Moody's Investors Service
downgraded Neiman Marcus Group LTD LLC's Corporate Family Rating to
Caa3 from Caa2 and its Probability of Default Rating to Ca-PD from
Caa2-PD.  "The downgrade of NMG's Corporate Family Rating reflects
its unsustainable leverage levels and short dated maturity profile
despite its improved operational performance in the face of a
healthy North America luxury market," says Christina Boni, vice
president. "Despite good liquidity, overall leverage levels remain
well above what can be refinanced and a quick return to peak EBITDA
unlikely."


NEON HOLDINGS: Moody's Assigns B2 CFR, Outlook Stable
-----------------------------------------------------
Moody's Investors Service assigned a B2 Corporate Family Rating
(CFR) to Neon Holdings, Inc. and assigned a B3 to the company's new
senior secured 7-year/NC3 bonds. Neon is being carved out from
Nexeo Solutions, Inc, which was acquired by Univar Inc. on February
28, 2019. Neon, which will go by the business name of "Nexeo
Plastics," is a leading plastics distribution company and is in the
process of being acquired by an affiliate of One Rock Capital
Partners, a private equity firm, for $640 million plus transaction
costs. The transaction is expected to be financed with $235 million
in new equity capital and $460 million in new debt, including $410
million in the new secured bonds and $50 million in drawings on the
ABL revolver. The acquisition is expected to recieve all necessary
regulatory and shareholder approvals and is expected to close later
this month. This is a first time rating for Neon and is subject to
receipt and review of all final documentation. The outlook on the
ratings is stable.

"Neon, a plastics distribution pure-play and leader in an industry
defined by modest margins, has good end market diversification and
positive free cash flow," according to Joseph Princiotta, Senior
Credit Officer at Moody's.

Assignments:

Issuer: Neon Holdings, Inc.

  Probability of Default Rating, Assigned B2-PD

  Corporate Family Rating, Assigned B2

  Senior Secured Regular Bond/Debenture, Assigned B3 (LGD4)

Outlook Actions:

Issuer: Neon Holdings, Inc.

  Outlook, Assigned Stable

RATINGS RATIONALE

The B2 CFR rating reflects a leading market share position in
plastics distribution in North America and Europe, generally stable
margins on a multi-quarter or annual basis, expectations for
positive free cash flow and good end-market diversification. Other
positive factors in the credit include a proprietary IT system that
provides operational advantages, an asset-light model that requires
minimal capex, and prospects for growth due to secular changes in
the plastics supplier industry.

The ratings also reflect the company's modest scale, high balance
sheet leverage, low operating margins, and supplier concentration.
Adjusted Debt-to-EBITDA will be in the mid-5x range initially but
is expected to decline below 5.0x by year end 2019, while gross and
EBITDA margins are expected to be roughly 13.0% and 4.5%,
respectively. Carve-out and stand-up risk in IT is also a near-term
risk in the credit profile, in Moody's opinion. Moody's expects the
company to pursue M&A activity, but with an emphasis on small or
bolt-on acquisitions. The ratings do not anticipate large
debt-financed acquisitions that stress the balance sheet.

Neon will have leading market shares with a #1 market position in
plastics distribution in North America and the #2 market position
in Europe. The company serves diverse end markets including
automotive, healthcare, packaging, consumer, electrical &
electronics, general industrial and compounding markets. Moody's
estimates that roughly a quarter of the portfolio serves the more
cyclical auto and other end markets. In addition to distribution,
the company provides value-added services such as technical
support, repackaging and inventory management.

Moody's believes that Neon's IT system provides an operating
advantage and will ultimately be a strength in the credit. The
proprietary IT platform of Nexeo Solutions has been cloned for
Neon. The system provides real-time data and analysis and informs
demand forecasting and pricing, which helps the sales force manage
and optimize unit gross margins (UGM). The UGMs might show
volatility intra-quarter, but over time company profitability tends
to be stable, despite the inherent volatility in commodity plastic
prices. The IT system also minimizes commodity price risk, which in
turn supports margin stability and working capital management.

Transitional Service Agreements (TSAs) between Neon and Univar
cover IT. While the Nexeo IT system is being cloned for Neon and
this work commenced at the time of the Univar-Nexeo merger, IT
personnel and data centers are not being transferred to Neon,
representing some risk to the IT transition and near-term
operation. Other TSAs cover technology, finance, HR, purchasing,
etc., spanning 6-24 months in duration. Securing personnel for
these areas is also a transition risk, in Moody's opinion.

The company's cash flow conversion is high, reflecting the low
capex and asset-light model, with assets consisting of 101
warehouses, most of which are leased or third party warehouses, and
140 tractors and trailers. Moody's expects Neon to generate
positive free cash flow in the range of $20-$25 million near term
on an annual basis.

The growth profile is expected to follow plastics industry growth,
which Moody's believes tends to track GDP growth rates. However,
higher growth opportunities are possible as plastic producers
increasingly outsource distribution, and due to the shale advantage
in the U.S. that's driving secular supply growth in ethylene and
downstream plastics, particularly in polyethylene (PE) plastics.
Growth opportunities also are possible in certain previously
under-penetrated markets in Europe and other regions.

On the negative side, Neon is modest in scale in terms of EBITDA,
cash flow and assets (despite roughly $2.0 billion in revenues,
EBITDA is currently only $83 million). Also, leverage is initially
high in the mid-5x range, although net leverage is likely to trend
favorably as the company reduces intial outstandings on the
revolver and accumulates cash with free cash flow, ahead of
possible bolt-on acquisitions or other cash uses.

The modest gross and EBITDA margins are inherent to the
distribution industry, with plastics margins observed to be at the
lower end of the range compared to chemicals or other distribution
businesses. Neon's EBITDA margins are expected to be in the mid-4%
range in 2019 and likely to be sustained at these levels or improve
only slightly over Moody's projection period. Margins might exhibit
some volatility due to commodity plastics price moves but we expect
UGMs to be relatively stable on an annual basis.

Neon's liquidity is adequate and supported by a $150 million ABL
revolver facility with a borrowing base that is expected to exceed
the $150 million at or shortly after closing. Availability is
expected to be roughly $100 million at or shortly after closing, as
$50 million will be drawn to support working capital and help
finance the acquisition. The company expects availability to be
restored to $150 million by the end of 2019 with cash from working
capital release and from operations. Cash balances will initially
be modest at around $15 million but are likely to grow with free
cash flow, excluding future cash use for bolt-on acquisitions. The
revolver contains a springing fixed charge coverage ratio test that
does not become effective unless excess availability plus
suppressed availability falls below 10% of the facility. We do not
expect the covenants will be tested in the near term. There are no
near-term maturities and the company's new bond matures in 7
years.

The stable outlook assumes leverage is managed below 5.0x leverage,
and EBITDA margins remain stable and do not deviate much from the
mid-4% range on an annual basis. Moody's would consider raising the
ratings if the company exhibits top-line growth, organically or
inorganically, that drives EBITDA growth and manages leverage to
below 4.0x on a consistent basis. Moody's would likely consider a
downgrade if leverage were to rise above 5.0x or EBITDA margins
contract below 4.0% on a multi-quarter basis, or if free cash flow
declines below $10 million per year. Diminished liquidity could
also trigger a review or downgrade of the ratings.

Neon Holdings, Inc., based in The Woodlands, Texas, is a leading
global plastics distributor in North America and Europe and
maintains longstanding relationships with over 150 plastics
suppliers and a diverse base of about 12,000 downstream plastic
customers. Supplier concentration is a risk in the credit as the
top 10 represent about 75%of plastics supplied. Customers are less
concentrated with the top 10 customers representing only about 7%
of all customers. The company maintains a global fleet of 140
tractors and trailers; a salesforce of 270 employees; and a global
distribution network through 101 leased, owned, and third-party
warehouses. Annual revenues for the year ending September 30, 2018
were roughly $2.0 billion.


NINE WEST: Emerges From Bankruptcy as Premier Brands
----------------------------------------------------
Nine West Holdings, Inc., announced that, together with certain of
its affiliates, it has successfully completed its financial and
operational restructuring and emerged from Chapter 11 under the
majority equity ownership of CVC Credit Partners and Brigade
Capital on March 20, 2019. The Company has been renamed Premier
Brands Group Holdings LLC ("Premier Brands Group").

Premier Brands Group will move forward with a right-sized capital
structure, streamlined operational footprint, profitable and
growing wholesale and licensing businesses, and proven management
teams in place. It will have over $100 million of go-forward
liquidity to support its operations and future growth initiatives,
as a result of successfully syndicated exit financing facilities
led by Wells Fargo and Goldman Sachs.

"We committed at the beginning of this process to emerge with the
financial foundation necessary to continue the growth trajectories
of our One Jeanswear Group, The Jewelry Group, Kasper Group and
Anne Klein businesses—and we are pleased to have accomplished
that goal," said Ralph Schipani, chief executive officer of Premier
Brands Group. "We have terrific platforms and an intense focus on
leveraging their potential, including through new brand licenses
and new domestic and international partnerships."

"In addition, over the past year we have successfully reduced our
pre-bankruptcy debt obligations by more than $1 billion and have
completed a significant operational restructuring following the
sale of our Nine West and Bandolino footwear and handbag
businesses. This successful outcome would not have been possible
without the commitment of our associates and their dedication to
our high quality, high service culture."

Mr. Schipani concluded, "I would also like to thank our long-term
customers and vendors for their loyalty and support. We look
forward to strengthening these important partnerships as Premier
Brands Group enters its next chapter of growth and continues to
build on its position as a preferred wholesale partner to the
world's leading global retailers."

                       About Nine West

Nine West Holdings Inc. is a footwear, accessories, women's
apparel, and jeanswear company with a portfolio of brands that
includes Nine West, Anne Klein, and Gloria Vanderbilt.  The company
is a wholesale partner to major U.S. retailers and has
international licensing arrangements covering more than 1,200
points of sale around the world.

In April 2014, Sycamore Partners Management, L.P., acquired The
Jones Group Inc. for $2.2 billion via leveraged buyout.  As part of
the transaction, The Jones Group merged with several affiliates,
and the newly merged company was renamed as Nine West Holdings.

On April 6, 2018, Nine West Holdings, Inc., and 10 affiliates
sought Chapter 11 protection (Bankr. S.D.N.Y. Lead Case No.
18-10947) to right size their balance sheet, sell the Nine West
Group's assets, and execute on their turnaround strategy to
concentrate exclusively on their One Jeanswear Group, Kasper Group,
The Jewelry Group, and Anne Klein businesses.

In addition to the chapter 11 cases, Jones Canada, Inc., and Nine
West Canada LP commenced foreign insolvency proceeding under the
Bankruptcy and Insolvency Act in Canada.

The Hon. Shelley C. Chapman is the U.S. case judge.

The Debtors tapped Kirkland & Ellis LLP as counsel; Lazard Freres &
Co. as investment banker; Alvarez & Marsal North America LLC as
interim management and financial advisory services provider;
Consensus Advisory Services LLC and Consensus Securities LLC as
investment banker in connection with the sale of intellectual
property associated with the Nine West and Bandolino brands;
Deloitte Tax LLP as tax services provider; and BDO USA, LLP, as
auditor and accountant.

Munger, Tolles & Olson LLP is serving as the company's independent
counsel, rendering services at the direction of independent
directors Alan Miller and Harvey Tepner.  Berkeley Research Group
is serving as independent financial advisor, rendering professional
services at the direction of the Independent Directors.

Prime Clerk LLC is the claims and noticing agent.

The Ad Hoc Group of Secured Term Loan Lenders tapped Davis Polk &
Wardwell LLP as counsel; and Ducera Partners LLC as financial
advisor.

The Ad Hoc Crossover Group of Secured and Unsecured Term Loan
Lenders tapped King & Spalding LLP as counsel and Guggenheim
Securities, LLC, as financial advisor.

Brigade Capital Management, LP, a party to the RSA tapped Kramer
Levin Naftalis & Frankel LLP as counsel.  

The Official Committee of Unsecured Creditors tapped Akin Gump
Strauss Hauer &  Feld LLP as counsel; Houlihan Lokey Capital, Inc.,
as investment banker; and Protiviti Inc. as financial advisor and
forensic accountant.

Sycamore Partners Management, L.P., owner of 90.2% of the equity
interests in the debtors, tapped Proskauer Rose LLP as counsel.
Authentic Brands, which bought Nine West's IP assets, tapped DLA
Piper Global Law Firm as counsel.


NORDAM GROUP: S&P Assigns B+ Issuer Credit Rating, Outlook Stable
-----------------------------------------------------------------
S&P Global Ratings assigned its 'B+' issuer credit rating to NORDAM
Group LLC, and its 'B+' issue-level rating and '3' recovery rating
to the company's proposed $240 million term loan B due 2026.

NORDAM is using the proceeds from the proposed term loan B and an
equity infusion from a new minority shareholder to repay claims as
it emerges from bankruptcy and for a distribution to existing
shareholders.

S&P's rating on NORDAM reflects the company's small size, revenue
concentration in the business jet market, and participation in the
competitive tier 2 aerospace supplier market. These factors are
partially offset by the company's complex aerostructure
capabilities and strong long-term relationships with leading
customers. Although leverage will be elevated in 2019 because of
bankruptcy-related costs, S&P expects debt to EBITDA to improve in
2020 due to the absence of one-time costs related to the bankruptcy
and the divestiture of the loss making PW800 integrated propulsion
system, as well as lower debt levels due to an equity infusion.
This should result in debt-to-EBITDA of 6.8x-7.2x in 2019,
improving to 2.8x-3.2x in 2020.

S&P's stable outlook on NORDAM reflects its view that the company
will emerge from bankruptcy and repay all creditors in full.
Although debt to EBITDA will remain elevated in 2019 due to
restructuring costs, S&P expects it to decline to around 3x by 2020
because of solid revenue growth and improving margins. S&P also
expects FOCF to debt to remain low at around 3%-5%.

S&P could raise the rating on NORDAM in the next 12 months if debt
to EBITDA declines below 3x and FOCF to debt increases above 5% on
a sustained basis. This could result from new contract wins driving
revenue and earnings growth or additional debt repayment.

Although less likely, S&P could lower the rating on NORDAM in the
next 12 months if debt to EBITDA remains above 4x and doesn't
expect it to improve. This could be the result of weaker demand in
key markets, operational problems, or if the bankruptcy and the
contract dispute affects the company's ability to win new business.
It could also result from the company pursuing debt financed
acquisitions or shareholder distributions.


OCALA INN: Seeks to Hire Mickler & Mickler as Legal Counsel
-----------------------------------------------------------
Ocala Inn Management Inc. seeks approval from the U.S. Bankruptcy
Court for the Middle District of Florida to hire the Law Offices of
Mickler & Mickler, LLP as its legal counsel.

The firm will advise the Debtor of its duties under the Bankruptcy
Code and will provide other legal services in connection with its
Chapter 11 case.

Mickler's hourly rates range from $250 to $350.

Bryan Mickler, Esq., at Mickler, disclosed in a court filing that
his firm does not hold any interest adverse to the Debtor.

The firm can be reached through:

     Bryan K. Mickler, Esq.
     Law Offices of Mickler & Mickler, LLP
     5452 Arlington Expressway
     Jacksonville, FL 32211
     Tel: 904-725-0822
     Fax: 904-725-0855
     Email: court@planlaw.com

                  About Ocala Inn Management

Ocala Inn Management, Inc., owns a hotel located at 3767 NW
Blitchton Road, Ocala, Florida, valued by the company at $1.97
million.  

Ocala Inn Management previously sought bankruptcy protection
(Bankr. M.D. Fla. Case No. 12-02468) on April 12, 2012.  

Ocala Inn Management agin sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. M.D. Fla. Case No. 19-00875) on March 13,
2019.  At the time of the filing, the Debtor disclosed $3,057,592
in assets and $1,201,280 in liabilities.  The Law Offices of
Mickler & Mickler, LLP, is the Debtor's counsel.



OCEAN SPRAY: Fitch Affirms BB on $150MM Series A Preferred Stock
-----------------------------------------------------------------
Fitch Ratings has affirmed Ocean Spray Cranberries, Inc.'s Issuer
Default Rating (IDR) at 'BBB-'. The Rating Outlook is Stable.

KEY RATING DRIVERS

Corrective Actions Gaining Traction: Ocean Spray's market niche
with its premium, highly recognizable brand has in the past
generated a good level of consistent profitability despite the
competitive landscape. However, during the past two years,
increased private label competition, lack of material new product
innovation, industry oversupply conditions and inflationary cost
pressures resulted in weak top-line trends with material margin
erosion resulting in revenue and EBITDA declines in the most recent
fiscal year (August 2018).

Fitch believes corrective actions taken by Ocean Spray management
during the past several quarters buoyed by a recent shelf reset at
one of Ocean's Spray largest customers and more supportive
cranberry supply/demand fundamentals have stabilized and begun to
improve operating performance in pool year 2017 (six months ended
December 2018) with an increase in revenue and net proceeds.
Positive factors include pricing on sweetened dried cranberries in
the B-B business, beverage trade spend optimization, cost reduction
initiatives and stronger branded mix. Other on-going initiatives
are expected to benefit cost and operating improvement.

Improved Innovation Strategy Key: Ocean Spray has experienced
challenges with successful brand innovation outside of its core
juice blends due to secular declines in the category with net sales
trends declining in the low-single-digit range for five of the last
six years. Over the medium-to-longer term, Ocean Spray will need to
strongly execute on its new growth strategy to sustain recent
improved operating momentum that leverages accelerated product and
packaging innovation across multiple new channels. A sustainable
low-single-digit top-line trend supported by branded innovation
that generates more profitable returns is key for Ocean Spray to
maintain healthy cooperative fundamentals.

Financial Flexibility Strengthening Fitch expects Ocean's Spray's
financial flexibility should improve materially over the forecast
period due to actions taken during the past couple of years that
should drive a significant increase in FCF generation. These
actions include a reduction in cash advance payments to growers, a
decrease in working capital usage, lowered capital spending and
extending allocated retained earning redemptions that began with
pool year 2016. Fitch believes Ocean Spray could also continue to
explore other avenues that would support further financial profile
improvement.

Low 3x Leverage Expected: Estimated leverage adjusted for cranberry
COGS (total lease adjusted gross debt/adjusted EBITDAR) for the LTM
ending Nov. 30, 2018 was 3.6x, an improvement from the end of
fiscal 2018 at approximately 4x. Leverage had increased materially
during fiscal 2018 (2.8x at the end of fiscal 2017) due to
operational headwinds, elevated cash grower advances combined with
increased debt related to the Atoka acquisition. Given expectations
for debt reduction and improved operating performance, Fitch
forecasts leverage at approximately 3.3x for fiscal 2019 and 3x for
fiscal 2020.

More Balanced Supply/Demand Fundamentals: Fitch expects cranberry
industry supply/demand fundamentals should be stable to improving
over the longer term due to supply regulation actions taken by U.S.
Department of Agriculture during the past two pool years and
potential steps taken by Ocean Spray growers to improve future
supply management. During the past decade, the cranberry supply has
grown faster than demand due primarily to growers increasing
acreage and planting new higher-yielding cranberry varieties that
have increased the supply of juice concentrate and substantially
pressured wholesale cranberry prices, thus reducing per-barrel
grower returns during the last couple of years. The supply
regulation actions taken have resulted in improved pricing while
beverage concentrate inventories have come in-line with current
demand.

Subordinated Payments: Fitch believes the subordinated nature of
Ocean Spray's patronage payments to any loan agreements or
preferred stock distribution provides additional protection and
credit enhancing restrictions. Thus, the cooperative structure
provides additional protection in the event of an unforeseen
material drop in profitability and cash flow. The board of
directors for Ocean Spray must approve each patronage payment,
allowing the payment to be withheld or adjusted for business needs.


DERIVATION SUMMARY

Ocean Spray (BBB-/Stable) is a marketing cooperative wholly owned
by more than 700 cranberry growers. About 60% of the worldwide
cranberry crop is received, processed, and marketed through Ocean
Spray, resulting in roughly $1.6 billion in net sales. The
cooperative provides a stable organizational structure for
cranberry grower-owners and enhances grower profitability due to
Ocean Spray's brand strength, marketing capabilities, innovation
abilities and demand planning. Ocean Spray has generated profitable
returns for grower-owners with consolidated pool proceeds much
higher than the independent/wholesale market. Ocean Spray's
well-known brand with dominant share in the shelf-stable cranberry
juice and dried cranberry segments partially mitigates a relatively
narrow product line that is primarily dependent on a single fruit.


Larger, well-capitalized beverage companies like PepsiCo, Inc.
(A/Stable) and The Coca-Cola Company (A/Stable) have much stronger
business profiles than Ocean Spray and are a significant
competitive threat given substantially greater scale and financial
resources. Coca-Cola and PepsiCo have significantly stronger global
market positions with well-developed expansive distribution
channels, sophisticated marketing capabilities and a wide range of
strong brands with more successful innovation track record that
focus on different types of consumer and consumption patterns.
Ocean Spray has a stronger financial profile than Land O' Lakes
(BBB-/Stable) with much stronger FFO and EBIT margins and
materially less earnings and working capital volatility.

KEY ASSUMPTIONS

Fitch's Key Assumptions Within Its Rating Case for the Issuer

  - In fiscal 2019, Fitch expects Ocean Spray revenues will decline
in the low-single digits. In fiscal 2020, Fitch expects revenues up
modestly in the low-single digits supported by branded innovation;

  - Cranberry COGS adjustment to revenue in the mid-single digits
for imputed cost of cranberries;

  - EBITDAR margins (without cranberry COGS adjustment) in the low
20% range throughout the forecast period;

  - FCF improves materially during the next two fiscal years due to
several factors including reductions with cash grower advances,
working capital benefits, capital spending reductions and increased
equity retention from extending allocated retained earning
redemptions. Excess cash is expected to be used for debt
reduction;

  - Leverage (total debt-to-adjusted operating EBITDAR with COGS
adjustment) declines to approximately 3.3x in fiscal 2019 and 3x in
fiscal 2020.

RATING SENSITIVITIES

Developments That May, Individually or Collectively, Lead to
Positive Rating Action

  - Sustainable low-single-digit revenue growth driven by branded
innovation strategy that increases product and channel
diversification;

  - Increase in grower equity sustained above 30% of total
capitalization;

  - Total adjusted debt-to-adjusted operating EBITDAR sustained
below 3.0x;

  - Sustainable growth in consolidated pool proceeds with
per-barrel patronage rates reflecting healthy operating conditions
for Ocean Spray's member-owners;

  - EBITDAR margins (absent COGS adjustments) sustained at least in
the low 20% range.

Developments That May, Individually or Collectively, Lead to
Negative Rating Action

  - Total debt-to-adjusted operating EBITDAR sustained above 3.5x
due to materially lower revenue and operating income trends, or
unanticipated debt-financed acquisitions;

  - FCF deficit over multiyear period driven by higher capital
investment and working capital requirements funded by debt;

  - Grower equity as a percent of total capitalization declines
below the mid-20% range;

  - Lack of appropriate level of external liquidity with sufficient
covenant capacity in the event of a material revolver draw-down;

  - Persistent industry oversupply that causes per-barrel patronage
rates to fall materially for a sustained period of time;

  - EBITDAR margins (absent COGS adjustments) sustained in the
upper-teen range.

LIQUIDITY

Sufficient Liquidity: Ocean Spray has an $820 million credit
agreement including a $300 million revolving commitment with a $100
million uncommitted accordion that matures in 2020. With the
revolving credit facility maturing in May 2020, Fitch expects Ocean
Spray will refinance the upcoming maturity before it comes current
in May. Ocean Spray also maintains a $15 million revolving facility
for Ocean Spray of Canada due 2024. Liquidity includes $21 million
of cash as of the first quarter 2019 (Nov. 30) and approximately
$183 million in total availability under the revolving facilities
as of Feb. 23, 2019. Ocean Spray's upcoming maturities during the
next two fiscal years (2019 and 2020) are term loan amortizations
of $25 million ($7.5 million was repaid during first fiscal
quarter). In addition to term loan amortizations in fiscal 2021 of
$25 million, a $50 million non-amortizing term loan matures.

Fitch believes Ocean Spray maintains an appropriate level of
external liquidity with sufficient covenant capacity under the debt
to consolidated capitalization and consolidated shareholders'
equity covenants.

FULL LIST OF RATING ACTIONS

Fitch has affirmed Ocean Spray's ratings as follows:

  -- Long-term IDR at 'BBB-';

  -- $150 million 6.25% series A preferred stock at 'BB'.

The Rating Outlook is Stable.


PEN INC: Ronald Berman Owns 6% of Class A Shares as of March 22
---------------------------------------------------------------
Ronald J. Berman disclosed in a Schedule 13D/A filed with the
Securities and Exchange Commission that as of March 22, 2019, he
directly owns 267,292 shares of Class A common stock of Pen, Inc.,
which represents 6 percent of the shares outstanding.  

Through his investment in PEN Comeback, LLC, Mr. Berman has an
indirect beneficial interest in 196,280 shares of Class A common
stock as well as a beneficial interest in options that entitled the
holder to purchase 97,495 shares of Class A common stock, warrants
that entitle the holder to purchase 196,280 shares of Class A
common stock, and 97,495 warrant options that allow the holder to
purchase at a price of $0.03 per warrant warrants to purchase up to
97,495 shares at an exercise price of $2.00 per share.

Mr. Berman is practicing law as a sole practitioner at 800 Village
Square Crossing, Palm Beach Gardens, FL 33410.

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

                      https://is.gd/Pt1zYL

                          About PEN Inc.

Headquartered in Miami, Florida, PEN develops, commercializes and
markets consumer and industrial products enabled by nanotechnology
that solve everyday problems for customers in the optical,
transportation, military, sports and safety industries.  The
Company's primary business is the formulation, marketing and sale
of products enabled by nanotechnology including the ULTRA CLARITY
brand eyeglass cleaner, CLARITY DEFOGIT brand defogging products
and CLARITY ULTRASEAL nanocoating products for glass and ceramics.
The Company also sells an environmentally friendly surface
protector, fortifier, and cleaner.  The Company's design center
conducts product development services for government and private
customers and develops and sells printable inks and pastes, thermal
management materials, and graphene foils and windows.  PEN was
formed in 2014, and is the successor to Applied Nanotech
Holdings Inc. that had been formed in 1989.  In the combination
that created PEN, Nanofilm, Ltd. acquired Applied Nanotech
Holdings, Inc.  The Company's principal operating segments coincide
with its different business activities and types of products sold.
This is consistent with the Company's internal reporting
structure.

As of Dec. 31, 2017, Pen Inc. had $2.18 million in total assets,
$3.27 million in total liabilities and a total stockholders'
deficit of $1.09 million.  PEN Inc. incurred a net loss of $687,068
in 2017, compared to a net loss of $556,001 in 2016.

The report from the Company's independent accounting firm Salberg &
Company, P.A., the Company's auditor since 2013, on the
consolidated financial statements for the year ended Dec. 31, 2017,
includes an explanatory paragraph stating that the Company has a
net loss and cash provided by operating activities of $687,068 and
$438,558, respectively, in 2017 and has a working capital deficit,
stockholders' deficit and accumulated deficit of $1,345,095,
$1,096,005 and $6,587,235, respectively, at Dec. 31, 2017.  These
matters raise substantial doubt about the Company's ability to
continue as a going concern.


PENINSULA RESEARCH: May 23 Evidentiary Hearing on Plan, Disclosures
-------------------------------------------------------------------
Bankruptcy Judge Karen S. Jennemann conditionally approved
Peninsula Research Ormond Beach, LLC's disclosure statement in
connection with its plan of reorganization.

An evidentiary hearing will be held on May 23, 2019 at 11:00 AM in
Courtroom 6A, 6th Floor, George C. Young Courthouse, 400 West
Washington Street, Orlando, FL 32801 to consider and rule on the
disclosure statement and to conduct a confirmation hearing.

Written acceptances or rejections to the plan and objections to the
disclosure statement and confirmation must be filed no later than
seven days before the hearing.

          About Peninsula Research Ormond Beach

Peninsula Research Ormond Beach, LLC, sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. M.D. Fla. Case No.
18-04498) on July 27, 2018.  In the petition signed by Angel Ribo,
CEO and president, the Debtor estimated assets of less than $50,000
and liabilities of less than $500,000.  The Debtor is represented
by the Law Offices of Scott W. Spradley, P.A.

No official committee of unsecured creditors has been appointed in
the Chapter 11 case of Peninsula Research Ormond Beach, LLC as of
Sept. 17, according to a court docket.


PG&E CORPORATION: Seeks to Hire Keller & Benvenutti as Co-Counsel
-----------------------------------------------------------------
PG&E Corporation, and its debtor-affiliates seek authority from the
U.S. Bankruptcy Court for the Northern District of California to
employ Keller & Benvenutti LLP, as co-counsel to the Debtors.

PG&E Corporation requires Keller & Benvenutti to:

   a. appear in Court on behalf of the Debtors;

   b. provide legal advice regarding the Debtors' rights and
      obligations as debtors in possession and regarding local
      rules, practices, and procedures;

   c. act to protect and preserve the Debtors' estates through
      the prosecution of actions on the Debtors' behalf, defense
      of actions commenced against the Debtors, negotiation of
      disputes in which the Debtors are involved, and preparation
      of objections to claims filed against the Debtors' estates;

   d. prepare on behalf of the Debtors any necessary
      applications, motions, answers, orders, reports, and other
      legal papers;

   e. provide traditional services of local co-counsel including,
      without limitation: monitoring the docket for filings and
      coordinating with co-counsel in pending matters that need
      response; preparing agenda letters, certificates of no
      objection, certifications of counsel, and notices of fee
      applications and hearings; preparing hearing binders of
      documents and pleadings; and preparing documents and
      pleadings for hearings;

   f. handle inquiries and calls from creditors and counsel to
      interested parties regarding pending matters and the
      general status of the Chapter 11 Cases, and, to the extent
      required, coordinating with co-counsel on any necessary
      responses;

   g. act as primary counsel in the event that debtor's lead
      bankruptcy counsel has a disabling conflict, believes it
      would be more efficient, or otherwise desires the Firm to
      act in such capacity in discrete matters; and

   h. provide additional support to the Debtors and to co-
      counsel, as requested.

Keller & Benvenutti will be paid based upon its normal and usual
hourly billing rates. The firm will also be reimbursed for
reasonable out-of-pocket expenses incurred.

For the 90 days prior to the Petition Date, the Firm received
payments and advances in the aggregate amount of $383,635.

As of the Petition Date, the Firm had a remaining credit balance in
favor of the Debtors for professional services performed and to be
performed, and expenses incurred and to be incurred, in connection
with these Chapter 11 Cases in the amount of approximately
$111,105.

Keller & Benvenutti will also be reimbursed for reasonable
out-of-pocket expenses incurred.

Tobias S. Keller, partner of Keller & Benvenutti LLP, 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.

Keller & Benvenutti can be reached at:

     Tobias S. Keller, Esq.
     Jane Kim, Esq.
     KELLER & BENVENUTTI LLP
     650 California Street, Suite 1900
     San Francisco, CA 94108
     Tel: 415 496 6723
     Fax: 650 636 9251
     E-mail: tkeller@kellerbenvenutti.com
             jkim@kellerbenvenutti.com

                     About PG&E Corporation

PG&E Corporation (NYSE: PCG) -- http://www.pgecorp.com/-- is a
Fortune 200 energy-based holding company, headquartered in San
Francisco. It is the parent company of Pacific Gas and Electric
Company, an energy company that serves 16 million Californians
across a 70,000-square-mile service area in Northern and Central
California.

As of Sept. 30, 2018, the Debtors, on a consolidated basis, had
reported $71.4 billion in assets on a book value basis and $51.7
billion in liabilities on a book value basis.

PG&E Corp. and Pacific Gas employ approximately 24,000 regular
employees, approximately 20 of whom are employed by PG&E Corp. Of
Pacific Gas' regular employees, approximately 15,000 are covered by
collective bargaining agreements with local chapters of three labor
unions: (i) the International Brotherhood of Electrical Workers;
(ii) the Engineers and Scientists of California; and (iii) the
Service Employees International Union.

On Jan. 29, 2019, PG&E Corp. and its primary operating subsidiary,
Pacific Gas and Electric Company, filed voluntary Chapter 11
petitions (Bankr. N.D. Cal. Lead Case No. 19-30088).

PG&E Corporation and its regulated utility subsidiary, Pacific Gas
and Electric Company, said they are facing extraordinary challenges
relating to a series of catastrophic wildfires that occurred in
Northern California in 2017 and 2018. The utility said it faces an
estimated $30 billion in potential liability damages from
California's deadliest wildfires of 2017 and 2018.

The Debtors tapped Weil, Gotshal & Manges LLP and Cravath, Swaine &
Moore LLP as legal counsel; Lazard as investment banker;
AlixPartners, LLP as restructuring advisor; and Prime Clerk LLC as
claims and noticing agent.

In order to help support the Company through the reorganization
process, PG&E has appointed James A. Mesterharm, a managing
director at AlixPartners, LLP, and an authorized representative of
AP Services, LLC, to serve as chief restructuring officer. In
addition, PG&E appointed John Boken also a Managing Director at
AlixPartners and an authorized representative of APS, to serve as
Deputy Chief Restructuring Officer. Mr. Mesterharm, Mr. Boken and
their colleagues at AlixPartners will continue to assist PG&E with
the reorganization process and related activities.

The Office of the U.S. Trustee appointed an official committee of
unsecured creditors on Feb. 12, 2019.  The committee retained
Milbank LLP as its legal counsel.


PG&E CORPORATION: Seeks to Hire Weil Gotshal as Attorney
--------------------------------------------------------
PG&E Corporation, and its debtor-affiliates seek authority from the
U.S. Bankruptcy Court for the Northern District of California to
employ Weil Gotshal & Manges LLP, as attorney to the Debtors.

PG&E Corporation requires Weil Gotshal to:

   a. take all necessary action to protect and preserve the
      Debtors' estates, including the prosecution of actions on
      the Debtors' behalf, the defense of any actions commenced
      against the Debtors, the negotiation of disputes in which
      the Debtors are involved and the preparation of objections
      to claims filed against the Debtors' estates;

   b. prepare on behalf of the Debtors, as debtors in possession,
      all necessary motions, applications, answers, orders,
      reports and other pleadings and documents in connection
      with the administration of the Debtors' Chapter 11 Cases;

   c. take all necessary actions in connection with any chapter
      11 plan and related disclosure statement and all related
      documents, and such further actions as may be required in
      connection with the administration of the Debtors' estates;

   d. take all necessary actions to protect and preserve the
      value of the Debtors' estates, and all related matters; and

   e. perform all other necessary legal services in connection
      with the prosecution of these Chapter 11 Cases; provided,
      however, that to the extent Weil Gotshal determines that
      such services fall outside of the scope of services
      historically or generally performed by Weil Gotshal as lead
      debtors' counsel in a bankruptcy case, Weil Gotshal will
      file a supplemental declaration.

Weil Gotshal will be paid based upon its normal and usual hourly
billing rates. The firm will also be reimbursed for reasonable
out-of-pocket expenses incurred.

For the 90 days prior to the Petition Date, Weil Gotshal received
payments and advances in the aggregate amount of $4,733,953.03.

Weil Gotshal has a remaining credit balance in favor of the Debtors
for professional services performed and to be performed, and
expenses incurred and to be incurred, in connection with these
Chapter 11 Cases in the amount of $1,548,143.70.

Weil Gotshal will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Stephen Karotkin, partner of Weil Gotshal & Manges LLP, 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.

Weil Gotshal can be reached at:

     Stephen Karotkin, Esq.
     Jessica Liou, Esq.
     Matthew Goren, Esq.
     WEIL, GOTSHAL & MANGES LLP
     767 Fifth Avenue
     New York, NY 10153-0119
     Tel: (212) 310-8000
     Fax: (212) 310-8007
     E-mail: stephen.karotkin@weil.com
             jessica.liou@weil.com
             matthew.goren@weil.com

                    About PG&E Corporation

PG&E Corporation (NYSE: PCG) -- http://www.pgecorp.com/-- is a
Fortune 200 energy-based holding company, headquartered in San
Francisco. It is the parent company of Pacific Gas and Electric
Company, an energy company that serves 16 million Californians
across a 70,000-square-mile service area in Northern and Central
California.

As of Sept. 30, 2018, the Debtors, on a consolidated basis, had
reported $71.4 billion in assets on a book value basis and $51.7
billion in liabilities on a book value basis.

PG&E Corp. and Pacific Gas employ approximately 24,000 regular
employees, approximately 20 of whom are employed by PG&E Corp. Of
Pacific Gas' regular employees, approximately 15,000 are covered by
collective bargaining agreements with local chapters of three labor
unions: (i) the International Brotherhood of Electrical Workers;
(ii) the Engineers and Scientists of California; and (iii) the
Service Employees International Union.

On Jan. 29, 2019, PG&E Corp. and its primary operating subsidiary,
Pacific Gas and Electric Company, filed voluntary Chapter 11
petitions (Bankr. N.D. Cal. Lead Case No. 19-30088).

PG&E Corporation and its regulated utility subsidiary, Pacific Gas
and Electric Company, said they are facing extraordinary challenges
relating to a series of catastrophic wildfires that occurred in
Northern California in 2017 and 2018. The utility said it faces an
estimated $30 billion in potential liability damages from
California's deadliest wildfires of 2017 and 2018.

The Debtors tapped Weil, Gotshal & Manges LLP and Cravath, Swaine &
Moore LLP as legal counsel; Lazard as investment banker;
AlixPartners, LLP as restructuring advisor; and Prime Clerk LLC as
claims and noticing agent.

In order to help support the Company through the reorganization
process, PG&E has appointed James A. Mesterharm, a managing
director at AlixPartners, LLP, and an authorized representative of
AP Services, LLC, to serve as chief restructuring officer. In
addition, PG&E appointed John Boken also a Managing Director at
AlixPartners and an authorized representative of APS, to serve as
Deputy Chief Restructuring Officer. Mr. Mesterharm, Mr. Boken and
their colleagues at AlixPartners will continue to assist PG&E with
the reorganization process and related activities.

The Office of the U.S. Trustee appointed an official committee of
unsecured creditors on Feb. 12, 2019.  The committee retained
Milbank LLP as its legal counsel.


PG&E CORPORATION: Taps Mr. Mesterharm of AP Services as CRO
-----------------------------------------------------------
PG&E Corporation, and its debtor-affiliates, seek authority from
the U.S. Bankruptcy Court for the Northern District of California
to employ James Mesterharm of AP Services, LLC, as chief
restructuring officer to the Debtors.

PG&E Corporation requires AP Services to:

   i. Restructuring

     a. work with the Debtors and their team to further identify
        and implement both short-term and long-term liquidity
        generating and cost reduction initiatives;

     b. assist the Debtors in connection with the development of
        their business plan, and such other related forecasts as
        may be required in connection with negotiations or by the
        Debtors for other corporate purposes;

     c. assist the Debtors' management and their professionals
        specifically assigned to sourcing, negotiating and
        implementing any financing, including DIP and exit
        financing facilities, in conjunction with the plan of
        reorganization and the overall restructuring;

     d. assist the Debtors' management in the design and
        implementation of a restructuring strategy designed to
        maximize enterprise value, taking into account the unique
        interests of all constituencies;

     e. work with the Debtors' senior management to negotiate and
        implement restructuring initiatives and evaluate
        strategic alternatives;

   ii. Communications with Outsiders

     a. assist in negotiations with stakeholders and their
        representatives;

     b. assist in negotiations with potential acquirers of the
        Debtors' assets;

     c. assist in communication and negotiation with outside
        constituents including the lenders, committees,
        stakeholders and their advisors;

   iii. Bankruptcy Case Management

     a. assist in managing the "working group" professionals who
        are assisting the Debtors in the reorganization process
        or who are working for the Debtors' various stakeholders
        to improve coordination of their effort and individual
        work product to be consistent with the Debtors' overall
        restructuring goals;

     b. assist in obtaining and presenting information required
        by parties in interest in the Debtors' chapter 11
        process, including official committees and the Court
        itself;

     c. assist the Debtors in other business and financial
        aspects of the Chapter 11 Cases, including, but not
        limited to, development of a disclosure statement and
        plan of reorganization;

     d. assist with the preparation of the Debtors' statements of
        affairs, schedules of assets and liabilities, and other
        regular reports required in the Chapter 11 Cases as well
        as providing assistance in such areas as testimony before
        the Court on matters that are within AP Services's areas
        of expertise;

     e. assist, as requested, in managing any litigation that may
        be brought against the Debtors in the Court;

     f. assist as requested in analyzing preferences and other
        avoidance actions;

     g. manage the claims reconciliation processes;

     h. assist the Debtors with electronic data collection;

   iv. Finance and Cash Management

     a. assist the Debtors and their management in developing and
        maintaining a short-term cash flow forecasting tool and
        related methodologies and to assist with planning for
        alternatives as requested by the Debtors;

     b. assist the Debtors in developing an actual to forecast
        variance reporting mechanism including written
        explanations of key differences;

   v. Miscellaneous

     a. assist with such other matters as may be requested that
        fall within AP Service's expertise and that are mutually
        agreeable.

AP Services will be paid at these hourly rates:

     Managing Director               $990 to $1,165
     Director                        $775 to $945
     Senior Vice President           $615 to $725
     Vice President                  $440 to $600
     Consultant                      $160 to $435
     Paraprofessional                $285 to $305

The Debtors will pay AP Services the Success Fee in the amount of
$8,000,000 upon the occurrence of a Transaction.

Notwithstanding the foregoing, should a Transaction first occur
after 18 months from the Petition Date (the "Target Date"), the
Success Fee shall be reduced by 10% of the monthly fees earned for
each whole calendar month between the Target Date and the actual
date of the Transaction. However, after applying the reduction, the
Success Fee will in no event be less than $4,000,000. The Success
Fee shall be due and payable immediately upon the occurrence of a
Transaction. AP Services understands and agrees that the Success
Fee is not being pre-approved and remains subject to Court
approval. While AP Services is not seeking pre-approval of the
Success Fee, AP Services wishes to advise the Court at this time
that the Success Fee was negotiated as part of the overall
agreement for compensation in connection with the services to be
provided to the Debtors in these Chapter 11 Cases. The Debtors
understand and acknowledge that the Success Fee is an integral part
of AP Services's compensation for the engagement and that the
structure and amount of the Success Fee is reasonable.

Prior to the Petition Date, AP Services and its affiliates received
an unapplied advance payment from the Debtors in the amount of
$750,000 (the "Retainer"). The Retainer was further
supplemented by $1,750,000 for an aggregate Retainer amount of
$2,500,000.00 as set forth in the Financial Advisor Engagement
Letter. According to AP Services's books and records, during the
90-day period prior to the Petition Date, the Debtors paid AP
Services and its affiliates $8,978,334.53 in the aggregate for
professional services performed and expenses incurred, including
the Retainer.

James Mesterharm, partner of AP 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 does not represent any
interest adverse to the Debtors and their estates.

AP Services can be reached at:

     James Mesterharm
     AP SERVICES, LLC
     909 Third Avenue
     New York, NY 10022
     Tel: (212) 490-2500
     Fax: (212) 490-1344

                     About PG&E Corporation

PG&E Corporation (NYSE: PCG) -- http://www.pgecorp.com/-- is a
Fortune 200 energy-based holding company, headquartered in San
Francisco. It is the parent company of Pacific Gas and Electric
Company, an energy company that serves 16 million Californians
across a 70,000-square-mile service area in Northern and Central
California.

As of Sept. 30, 2018, the Debtors, on a consolidated basis, had
reported $71.4 billion in assets on a book value basis and $51.7
billion in liabilities on a book value basis.

PG&E Corp. and Pacific Gas employ approximately 24,000 regular
employees, approximately 20 of whom are employed by PG&E Corp. Of
Pacific Gas' regular employees, approximately 15,000 are covered by
collective bargaining agreements with local chapters of three labor
unions: (i) the International Brotherhood of Electrical Workers;
(ii) the Engineers and Scientists of California; and (iii) the
Service Employees International Union.

On Jan. 29, 2019, PG&E Corp. and its primary operating subsidiary,
Pacific Gas and Electric Company, filed voluntary Chapter 11
petitions (Bankr. N.D. Cal. Lead Case No. 19-30088).

PG&E Corporation and its regulated utility subsidiary, Pacific Gas
and Electric Company, said they are facing extraordinary challenges
relating to a series of catastrophic wildfires that occurred in
Northern California in 2017 and 2018. The utility said it faces an
estimated $30 billion in potential liability damages from
California's deadliest wildfires of 2017 and 2018.

The Debtors tapped Weil, Gotshal & Manges LLP and Cravath, Swaine &
Moore LLP as legal counsel; Lazard as investment banker;
AlixPartners, LLP as restructuring advisor; and Prime Clerk LLC as
claims and noticing agent.

In order to help support the Company through the reorganization
process, PG&E has appointed James A. Mesterharm, a managing
director at AlixPartners, LLP, and an authorized representative of
AP Services, LLC, to serve as chief restructuring officer. In
addition, PG&E appointed John Boken also a Managing Director at
AlixPartners and an authorized representative of APS, to serve as
Deputy Chief Restructuring Officer. Mr. Mesterharm, Mr. Boken and
their colleagues at AlixPartners will continue to assist PG&E with
the reorganization process and related activities.

The Office of the U.S. Trustee appointed an official committee of
unsecured creditors on Feb. 12, 2019.  The committee retained
Milbank LLP as its legal counsel.


PIER 1 IMPORTS: Moody's Cuts CFR to Caa3 & Term Loan Rating to Ca
-----------------------------------------------------------------
Moody's Investors Service downgraded Pier 1 Imports (U.S.), Inc.'s
Corporate Family Rating to Caa3 from Caa1 and Probability of
Default Rating to Caa3-PD from Caa1-PD. Concurrently, Moody's
downgraded the company's senior secured term loan rating to Ca from
Caa2. The Speculative Grade Liquidity rating was affirmed at SGL-3.
The outlook was changed to stable from negative.

The downgrades reflect Moody's view that Pier 1's ability to turn
around its earnings to a level that supports a timely and
economical refinancing of its term loan due 2021 is highly
uncertain. While Pier 1's transformation efforts will benefit
earnings going forward, the depth of the current decline along with
the broad scope of turnaround required, ongoing margin pressure
from growing competition, and rising wage, transportation and
tariff costs limit the company's recovery prospects. Accordingly,
the downgrades also reflect Moody's estimation of the rising risk
of a preemptive balance sheet restructuring over the next eighteen
months.

Moody's expects Pier 1 to have adequate liquidity over the next
12-18 months, mainly supported by availability under the company's
$400 million asset-based revolver and a lack of maturities until
the term loan due date, but constrained by expectations for
negative free cash flow generation.

Moody's took the following ratings actions for Pier 1 Imports
(U.S.), Inc.:

Corporate Family Rating, downgraded to Caa3 from Caa1

Probability of Default Rating, downgraded to Caa3-PD from Caa1-PD

Senior Secured Bank Credit Facility, downgraded to Ca (LGD4) from
Caa2 (LGD4)

Speculative Grade Liquidity Rating, affirmed at SGL-3

Outlook, changed to Stable from Negative


PURADYN FILTER: Incurs $216,382 Net Loss in 2018
------------------------------------------------
Puradyn Filter Technologies Incorporated has filed with the
Securities and Exchange Commission its Annual Report on Form 10-K
reporting a net loss of $216,382 on $4.20 million of net sales for
the year ended Dec. 31, 2018, compared to a net loss of $1.23
million on $2.25 million of net sales for the year ended Dec. 31,
2017.

As of Dec. 31, 2018, Puradyn Filter had $1.87 million in total
assets, $10.90 million in total liabilities, and a total
stockholders' deficit of $9.03 million.

Liggett & Webb, P.A., in Boynton Beach, Florida, the Company's
auditor since 2006, has issued a "going concern" qualification in
its report on the Company's consolidated financial statements for
the year ended Dec. 31, 2018, noting that the Company has
experienced net losses since inception and negative cash flows from
operations and has relied on loans from related parties to fund its
operations.  These factors raise substantial doubt about the
Company's ability to continue as a going concern.

                Liquidity and Capital Resources

The Company had cash on hand of $112,769 and a working capital
deficit of $1,603,639 at Dec. 31, 2018 as compared to cash on hand
of $54,438 and a working capital deficit of $9,470,970 at Dec. 31,
2017.  The Company's current ratio (current assets to current
liabilities) was .45 to 1 at Dec. 31, 2018 as compared to .08 to 1
at Dec. 31, 2017.  The decrease in negative working capital is
primarily attributable to the note exchange agreement entered into
with the Company's Executive Chairman extending the maturity date
of his working capital loans to Dec. 31, 2021, thereby
reclassifying these amounts from current liabilities to long-term
liabilities, together with increases in inventory and accounts
receivable which were offset by decreases in deferred compensation,
sales incentives cash and increase in accounts payable.  The
Company does not currently have any commitments for capital
expenditures.

The Company said its net sales are not sufficient to pay its
operating expenses or satisfy its obligations as when they become
due.  Historically, the Company has been materially reliant on
working capital advances from its Executive Chairman to address its
liquidity and working capital issues through the utilization of the
borrowing agreement with him.  In 2018 the Company borrowed an
additional $325,000 from him under short term demand notes and
$26,273 under a previous line.  In addition the Company received
additional loans in the amount of $250,000 from a related party to
both the Company's Executive Chairman and its Chief Executive
Officer, as advances for working capital needs.

On March 25, 2019 the Company entered into a note exchange
agreement with its Executive Chairman pursuant to which he
exchanged $7,989,622 of principal and $395,510 of accrued interest
which was due on Dec. 31, 2019 under an unsecured loan for a
secured promissory note in the principal amount of $8,385,132.  The
note, which matures on Dec. 31, 2021, bears interest at 4% per
annum, payable monthly, and is secured by a first position security
interest in its assets.  In addition, the Company owes him $600,000
for other working capital advances which are due on demand.

The Company also owes two of its executive officers and two former
employees $1,564,253 in deferred cash compensation at Dec. 31,
2018, which represents 54% of the Company's current liabilities on
that date.  These current and former employees agreed to defer a
portion of their compensation to assist the Company in managing its
cash flow and working capital needs.  As there is no written
agreement with these current and former employees which
memorializes the terms of salary deferral, only an election to do
so, it is possible these individuals could demand payment in full
at any time or elect to no longer defer their salaries, or reduce
the amount they currently defer.

"We do not have sufficient funds to satisfy these obligations.  We
do not have any external sources of liquidity at this time, and our
discussions over the past few years with third parties for
potential investments have not been successful.  We historically
have encountered resistance from potential investors on a variety
of fronts, including our operating losses, and the amount of debt
due to our Executive Chairman.  He is not obligated to lend us any
additional funds and the amounts we owe him, which are secured by
our assets, mature in December 2021.  If we are unable able raise
additional working capital as necessary, of which there can be no
assurance, we will be able to continue as a going concern and it is
possible our stockholders could lose their entire investment in our
company," Puradyn Filter said.

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

                    https://is.gd/7Bm5Gz

                    About Puradyn Filter

Boynton Beach, Fla.-based Puradyn Filter Technologies Incorporated
(OTC BB: PFTI) -- http://www.puradyn.com/-- designs, manufactures,
markets and distributes worldwide the Puradyn bypass oil filtration
system for use with substantially all internal combustion engines
and hydraulic equipment that use lubricating oil.


QUITMAN COUNTY: Seeks to Hire Craig M. Geno as Attorney
-------------------------------------------------------
Quitman County Development Organization, Inc., seeks authority from
the U.S. Bankruptcy Court for the Northern District of Mississippi
to employ the Law Offices of Craig M. Geno, PLLC, as attorney to
the Debtor.

Quitman County requires Craig M. Geno to:

   a. advise and consult with the Debtor-in-Possession regarding
      questions arising from certain contract negotiations which
      will occur during the operation of business by the Debtor-
      in-Possession;

   b. evaluate and attach claims of various creditors who may
      assert security interests in the assets and who may seek to
      disturb the continued operation of the business;

   c. appear in, prosecute, or defend suits and proceedings, and
      take all necessary and proper steps and other matters and
      things involved in or connected with the affairs of the
      estate of the Debtor;

   d. represent the Debtor in court hearings and assist in the
      preparation of contracts, reports, accounts, petitions,
      applications, orders and other papers and documents as may
      be necessary in the bankruptcy proceedings;

   e. advise and consult with the Debtor in connection with any
      reorganization plan which may be proposed in the bankruptcy
      proceeding and any matters concerning the Debtor which
      arise out of or follow the acceptance or consummation of
      such reorganization or its rejection; or

   f. perform such other legal services on behalf of the Debtor
      as they become necessary in the bankruptcy proceedings.

Craig M. Geno will be paid at these hourly rates:

     Attorneys              $425
     Associates             $250
     Paralegals             $175

Craig M. Geno will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Craig M. Geno, partner of the Law Offices of Craig M. Geno, PLLC,
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.

Craig M. Geno can be reached at:

     Craig M. Geno, Esq.
     Jarret P. Nichols, Esq.
     LAW OFFICES OF CRAIG M. GENO, PLLC
     587 Highland Colony Parkway
     Ridgeland, MS 39158-3380
     Tel: (601) 427-0048
     Fax: (601) 427-0050
     E-mail: cmgeno@cmgenolaw.com
             jnichols@ cmgenolaw.com

          About Quitman County Development Organization

Quitman County Development Organization, Inc., filed a Chapter 11
bankruptcy petition (Bankr. N.D. Miss. Case No. 19-10967) on March
6, 2019.  The Debtor hired the Law Offices of Craig M. Geno, PLLC,
as attorney.


REALOGY GROUP: Moody's Rates Sr. Unsecured Notes Due 2027 'B2'
--------------------------------------------------------------
Moody's Investors Service affirmed Realogy Group LLC's Ba3
Corporate Family rating, Ba3-PD Probability of Default rating, Ba1
senior secured and SGL-2 Speculative Grade Liquidity ratings. The
senior unsecured rating was downgraded to B2 from B1. Moody's
assigned a B2 rating to Realogy's proposed senior unsecured notes
due 2027. The ratings outlook is negative.

The net proceeds from the proposed notes will be used to repay
revolver loans. Realogy repaid in full its $450 million senior
unsecured notes due April 2019 in February with revolver loans.

RATINGS RATIONALE

"The increase in the proportion of senior secured to total debt
claims over the last few years drives the downgrade of the senior
unsecured rating to B2 from B1," said Edmond DeForest, Moody's
Senior Credit Officer. "The terms of the proposed notes include new
restrictions on share repurchase activity until financial leverage
is reduced, which effectively commits Realogy to repaying debt
before it can renew stock buy-back activity. Therefore, Moody's
considers the restrictions a positive credit development," DeForest
added.

The Ba3 CFR reflects Moody's expectations for stable financial
performance and ongoing financial deleveraging through debt
repayment and EBITDA growth. However, Realogy remains highly
leveraged at 5.8 times debt to EBITDA as of December 31, 2018,
although leverage should decline below 5 times by the end of 2019.
The residential real estate brokerage market remains volatile,
cyclical and seasonal. Moody's anticipates 2019 could be a
challenging year in the U.S. existing home sale market if average
home sale prices or mortgage interest rates continue rising, and
Realogy's financial results and credit metrics may worsen from
already diminished levels. Additionally, a high proportion of
Realogy's revenues and earnings come from brokerage operations
concentrated in regions with high state and local taxes,
specifically California and New York, where limitations on the
deductibility of mortgage interest and state and local taxes
imposed by the 2017 Tax Cuts and Jobs Act are further hampering
transaction volumes. Realogy has been an active acquirer of its
stock while slightly increasing its debt. Moody's expectations for
diminished share repurchase activity and an emphasis on debt
reduction over the next 12 to 18 months are important
considerations for the Ba3 CFR.

All financial metrics cited reflect Moody's standard adjustments.

The Ba1 rating on the senior secured obligations reflects their
priority position in the capital structure and a Loss Given Default
("LGD") assessment of LGD2. The debt is secured by a pledge of
substantially all of the company's domestic assets (excluding
accounts receivable pledged for the securitization facility) and
65% of the stock of foreign subsidiaries. The Ba1 rating, two
notches above the CFR, benefits from loss absorption provided by
the junior ranking debt and non-debt obligations. An increase in
the proportion of senior secured to total debt claims could lead
Moody's to downgrade the senior secured to Ba2.

The B2 rating on the senior unsecured notes reflects the Ba3-PD PDR
and an LGD assessment of LGD5. The LGD assessment reflects
effective subordination to all the secured debt. The senior notes
are guaranteed by substantially all of the domestic subsidiaries of
the company (excluding the securitization subsidiaries). An
decrease in the proportion of senior secured to total debt claims
could lead Moody's to upgrade the senior unsecured to B1.

The SGL-2 SGL rating reflects Realogy's good liquidity profile.
Moody's expects over $200 million of free cash flow. The $1.4
billion senior secured revolving credit facility may be used to
repay maturing debt, support opportunistic debt and equity
repurchases, acquisitions and seasonal working capital needs; over
$800 million is anticipated to remain available at all times.
Unrestricted cash of $225 million as of December 31, 2018 may be
applied to reducing revolving credit facility borrowings. There is
ample headroom anticipated under financial maintenance covenants
over the next year as leverage is calculated on a senior secured
basis and net of balance sheet cash.

The negative ratings outlook reflects Moody's concerns that if
revenue declines in the 2019 existing home sale season, credit
metrics may not improve in the next 12 to 18 months. The outlook
could be revised to stable if Moody's anticipates financial
policies which emphasize debt repayment, debt to EBITDA will
decline toward 4.5 times and free cash flow to debt will be
maintained around 10%.

The ratings could be upgraded if through some combination of rising
existing unit home sales and average prices or accelerated debt
repayments Moody's comes to expect debt to EBITDA to be sustained
below 4 times and EBITA to interest maintained above 3 times.

The ratings could be downgraded if Moody's anticipates no revenue
growth, debt to EBITDA will remain above 5 times, free cash flow to
debt will remain below 8% or aggressive financial policies,
including large debt financed shareholder returns or acquisitions.

Moody's took the following actions on Realogy Group LLC:

Corporate Family Rating, Affirmed at Ba3

Probability of Default Rating, Affirmed at Ba3-PD

Senior secured bank credit facility, Affirmed at Ba1 (LGD2)

Senior unsecured notes, Downgraded to B2 (LGD5) from B1 (LGD5)

Gtd senior unsecured notes due 2027, Assigned at B2 (LGD5)

Speculative Grade Liquidity Rating, Affirmed at SGL-2

Outlook Negative

The principal methodology used in these ratings was Business and
Consumer Service Industry published in October 2016.

Realogy is a global provider of real estate and relocation
services. The company operates in four segments: real estate
franchise services, company owned real estate brokerage services,
relocation services and title and settlement services. The
franchise brand portfolio includes Century 21, Coldwell Banker,
Coldwell Banker Commercial, ERA, Sotheby's International Realty and
Better Homes and Gardens Real Estate. Moody's expects 2019 revenues
of over $6 billion.


SADDY FAMILY: Seeks to Hire Eugene D. Roth as Legal Counsel
-----------------------------------------------------------
Saddy Family LLC seeks approval from the U.S. Bankruptcy Court for
the District of New Jersey to hire the Law Office of Eugene D. Roth
as its legal counsel.

The firm will advise the Debtor of its rights and obligations under
the Bankruptcy Code; represent the Debtor in negotiation with its
creditors; assist in preparing a plan of reorganization; and
provide other legal services in connection with its Chapter 11
case.

Roth will be paid at these hourly rates:

     Eugene Roth, Esq.     $475
     Legal Assistant        $95

The proposed initial retainer is $10,000.

The firm is "disinterested" as defined in Section 101(14) of the
Bankruptcy Code, according to court filings.

Roth can be reached through:

     Eugene D. Roth, Esq.
     Law Office of Eugene D. Roth
     Valley Pk. East
     2520 Hwy 35, Suite 307
     Manasquan, NJ 08736
     Tel: (732) 292-9288
     Fax: (732) 292-9303
     Email: erothesq@gmail.com

                       About Saddy Family

Saddy Family, LLC, owner of commercial buildings in Seaside
Heights, New Jersey, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D.N.J. Case No. 19-14223) on February 28,
2019.  At the time of the filing, the Debtor estimated assets of
less than $50,000 and liabilities of $1 million to $10 million.
The case is assigned to Judge Christine M. Gravelle.  Law Office of
Eugene D. Roth is the Debtor's counsel.


SALLY BEAUTY: S&P Alters Outlook to Stable, Affirms 'BB-' ICR
-------------------------------------------------------------
S&P Global Ratings revised its outlook on U.S.-based beauty
supplies retailer and distributor Sally Beauty Holdings Inc. to
stable from negative. At the same time, S&P affirmed all ratings on
the company, including the 'BB-' issuer credit rating.

The outlook revision reflects improving performance trends in
recent quarters, with consolidated same-store sales slightly
positive (0.3%) in the first quarter of fiscal 2019, a sequential
improvement from previous quarters. The company's recent debt
repurchase of about $60 million provides modest financial cushion
as the company executes its transformation plan.

The stable outlook reflects S&P's expectation for slight
improvement in credit metrics over the next 12 months, on
stabilizing performance trends. S&P also expects the company to
generate decent FOCF of about $200 million, which could be used for
additional debt prepayment.


SALLY WILLIAMSON: Case Summary & 8 Unsecured Creditors
------------------------------------------------------
Debtor: Sally Williamson & Associates, Inc.
        3050 Peachtree Road, NW, Suite 400
        Atlanta, GA 30305


Business Description: Sally Williamson & Associates offers
                      executive coaching, custom workshops or any
                      of its signature workshops: Executive
                      Presence, Effective Presentations and
                      Leading Executive Conversations.

Chapter 11 Petition Date: March 25, 2019

Court: United States Bankruptcy Court
       Northern District of Georgia (Atlanta)

Case No.: 19-54623

Judge: Hon. Paul Baisier

Debtor's Counsel: Will B. Geer, Esq.
                  WIGGAM & GEER, LLC
                  Suite 1245
                  50 Hurt Plaza SE
                  Atlanta, GA 30303
                  Tel: (678) 587-8740
                  Fax: (404) 287-2767
                  Email: wgeer@wiggamgeer.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Mark Williamson, CFO.

A full-text copy of the petition containing, among other items, a
list of the Debtor's eight unsecured creditors is available for
free at:

          http://bankrupt.com/misc/ganb19-54623.pdf


SCOTTSBURG HOSPITALITY: Secured Creditor Seeks Rejection of Plan
----------------------------------------------------------------
Secured creditor U.S. Bank, National Association, as trustee for
the registered holders of ML-CFC Commercial Mortgage Pass-Through
Certificates, Series 2007-7 acting by and through its special
servicer, LNR Partners, LLC, a Florida limited liability company,
filed an objection to Scottsburg Hospitality's disclosure statement
in connection with its chapter 11 plan of reorganization.

The Secured Creditor asserts that while the legal infirmities of
the Chapter 11 plan are not always considered in connection with
approval of the related disclosure statement, in this particular
case, further consideration of the Disclosure Statement is futile
because confirmation of the Plan is impossible.

The Debtor's proposed treatment of the Secured Creditor's claim in
the Plan is unacceptable and the Secured Creditor will vigorously
oppose and object to confirmation of the Plan. The Secured
Creditor's loan with the Debtor matured in May 2017, and despite
this, in its cram-down Plan, the Debtor seeks to stretch out the
maturity date until eighteen (18) months after confirmation. The
Secured Creditor is not only impaired under the Plan, but grossly
impaired, and an "impaired lender who objects to any plan that
leaves insiders holding equity is entitled to the benefit of
competition." The Plan does not provide for any competition with
respect to the value of the equity in the reorganized debtor. The
Plan further does not provide for any "new value" contribution from
current equity holders but allows insiders to retain all of their
equity ownership.

As the Court has previously ruled in at least one other case, the
fact that the Plan proposes a 100% payment to the aggrieved Secured
Creditor does not remove the requirement of competition.
Accordingly, the Plan cannot be confirmed even if the Debtor could
obtain acceptance by an impaired class of creditors, which is now
impossible.

In addition, the judgment lien that has cast a shadow over the
Debtor's principal has not been resolved, so Debtor claims a
refinancing is not possible. Instead, contrary to Secured
Creditor's repeated warnings, the Debtor filed a "Hail Mary"
stretch-out Plan, premised entirely on using other people's money
to play for yet more time. As it became clear that a negotiated,
consensual plan would not happen, Secured Creditor has taken the
necessary defensive steps to protect itself, including purchasing
unsecured claims, so as to prevent an expensive and time consuming
"cram-down" confirmation battle. So, in addition to controlling its
own Class 1 claims, Secured Creditor now also controls Class 3, the
general unsecured claims.

Finally, the Plan and the Disclosure Statement have other serious
and incurable flaws, such as the feasibility of funding the
Property Improvement Plan an insufficient interest rate being paid
on Secured Creditor's claim, and insufficient disclosure of the
disposition of loans made to insiders and their affiliates.

A copy of the Secured Creditor's Objection is available at
http://tinyurl.com/y37fqh85from Pacermonitor.com at no charge.  

The Troubled Company Reporter previously reported that Allowed
Class 3 General Unsecured Claims will be paid 50% of the allowed
claim amount on or before July 1, 2019; and 50% of the allowed
claim amount on or before July 1, 2020.

The Debtor will complete the PIP over an 18-month period, thereby
increasing the market value of the Hotel by $2,780,000, utilizing
existing cash, cash flow from Debtor's operations, capital reserve
funds, and the recovery from Crosspoint, and the Crosspoint Loan to
fund the PIP Expenses.

A full-text copy of the Disclosure Statement dated January 30,
2019, is available at http://tinyurl.com/y2ou4n3bfrom  
PacerMonitor.com at no charge.

Counsel to U.S. Bank, N.A. As Trustee for the Registered Holders of
ML-CFC Commercial Mortgage PassThrough Certificates, Series
2007-7:

     Michael P. O'Neil
     John R. Humphrey
     One Indiana Square, Suite 3500
     Indianapolis, Indiana 46204
     Telephone: (317) 713-3500
     Facsimile: (317) 713-3699
     Email: moneil@taftlaw.com
     Email: jhumphrey@taftlaw.com

                About Scottsburg Hospitality

Scottsburg Hospitality, LLC, is a privately held company that
operates in the traveler accommodation industry.

Scottsburg Hospitality sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. Ind. Case No. 18-90833) on June 11,
2018.  In the petition signed by Michael A. Dora, president, the
Debtor estimated assets and debts of less than $10 million.  

The Hon. Basil H. Lorch III presides over the case.

The Debtor engaged Fultz Maddox Dickens PLC as counsel.


SEITEL INC.: Moody's Withdraws Caa2 CFR on Rated Debt Refinancing
-----------------------------------------------------------------
Moody's Investors Service has withdrawn all the ratings of Seitel,
Inc. (Seitel), including the company's Caa2 Corporate Family Rating
(CFR), Caa2-PD Probability of Default Rating (PDR), Caa2 senior
unsecured notes rating, and SGL-4 Speculative Grade Liquidity
Rating.

Outlook Actions:

Issuer: Seitel, Inc.

Outlook, Changed To Rating Withdrawn From Stable

Withdrawals:

Issuer: Seitel, Inc.

Probability of Default Rating, Withdrawn , previously rated
Caa2-PD

Speculative Grade Liquidity Rating, Withdrawn , previously rated
SGL-4

Corporate Family Rating, Withdrawn, previously rated Caa2

Senior Unsecured Notes, Withdrawn, previously rated Caa2 (LGD4)

RATINGS RATIONALE

Moody's has withdrawn all of Seitel's ratings following the
refinancing of its $250 million senior unsecured notes due April
2019.

Seitel, Inc., headquartered in Houston, Texas, is a provider of
seismic data and related geophysical services, which are used by
North American oil and gas companies to assist them in the
exploration and development of oil and gas reserves.


SIMKAR LLC: U.S. Trustee Forms 2-Member Committee
-------------------------------------------------
The U.S. Trustee for Region 2 on March 22 appointed two creditors
to serve on the official committee of unsecured creditors in the
Chapter 11 cases of Simkar LLC and its debtor affiliates.

The committee members are:

   (1) Best Lighting Products Inc.
       c/o George Jue, President
       1213 Etna Parkway
       Etna, OH 43062
       Tel: 740-964-1198

   (2) Local Union 1158 I.B.E.W. Pension Fund - PA
       c/o George Serio, Fund Trustee
       1149 Bloomfield Avenue
       Clifton, NJ 07013
       Tel: 973-773-3336

Official creditor's 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.

Based in Tarrytown, New York, SIMKAR LLC -- http://www.simkar.com
-- is an internationally known designer, developer, and
manufacturer of lighting products.  Since 1952, the Company has
provided a diverse selection of high-quality LED lighting fixtures,
along with other technologies to contractors, specifiers, and other
strategic partners.  The Company designs and manufactures lighting
fixtures at its 283,500 square foot manufacturing facility in
Philadelphia, PA.

SIMKAR LLC filed a voluntary Chapter 11 petition (Bankr. S.D.N.Y.
Case No. 19-22576) on March 6, 2019.  The Debtor's counsel is H.
Bruce Bronson, Jr., Esq., in Harrison, New York.

At the time of filing, the Debtor had estimated assets and
estimated liabilities of $10 million to $50 million.

The petition was signed by Alfred Heyer, Neo Lights Holdings Inc.,
president of managing member.


SJV INC: Seeks to Hire Eugene D. Roth as Legal Counsel
------------------------------------------------------
SJV Inc. seeks approval from the U.S. Bankruptcy Court for the
District of New Jersey to hire the Law Office of Eugene D. Roth as
its legal counsel.

The firm will advise the Debtor of its rights and obligations under
the Bankruptcy Code; represent the Debtor in negotiation with its
creditors; assist in preparing a plan of reorganization; and
provide other legal services in connection with its Chapter 11
case.

Roth will be paid at these hourly rates:

     Eugene Roth, Esq.     $475
     Legal Assistant        $95

The proposed initial retainer is $10,000.

The firm is "disinterested" as defined in section 101(14) of the
Bankruptcy Code, according to court filings.

Roth can be reached through:

     Eugene D. Roth, Esq.
     Law Office of Eugene D. Roth
     Valley Pk. East
     2520 Hwy 35, Suite 307
     Manasquan, NJ 08736
     Tel: (732) 292-9288
     Fax: (732) 292-9303
     Email: erothesq@gmail.com

                          About SJV Inc.

SJV Inc., a privately held company in Seaside Heights, New Jersey,
sought protection under Chapter 11 of the Bankruptcy Code (Bankr.
D.N.J. Case No. 19-14220) on Feb. 28, 2019.  At the time of the
filing, the Debtor estimated assets of less than $1 million and
liabilities of $1 million to $10 million.  The case is assigned to
Judge Christine M. Gravelle.  The Law Office of Eugene D. Roth is
the Debtor's counsel.



SLANE MARINE: Files Amended Plan With Immaterial Modifications
--------------------------------------------------------------
James C. Lanik, the Chapter 11 trustee for Slane Marine, Inc.,
filed an Amended Plan of Reorganization and accompanying disclosure
statement with immaterial modifications.

The Class 2 General Unsecured Claims are Impaired with estimated
allowed amount $200,000.00. The Debtor/Trustee will attempt to sell
sufficient of the Debtor's assets to as to pay the principal
amounts of the General Unsecured Claims in full, without interest,
within 180 days from the Effective Date.

The Class 3 Claim of Alex Chervinsky is impaired as it treats his
Claim generally according to the previously agreed, but not
approved Settlement Agreement between the Trustee and Mr.
Chervinsky. The primary difference in treatment under the Plan is
that such treatment includes a release of the Debtor, where the
Settlement Agreement did not include such a release.

The Class 4 Claim of Thomas V. Slane, Sr. is impaired with
estimated allowed amount $1,315,647.38.  Mr. Slane’s claim will
receive no distribution unless and until the Holders of
Administrative Claims, Priority Tax Claims, Class 1 Priority
Claims, and Class 2 General Unsecured Claims have all received
payment in full as provided by the Plan. The Reorganized Debtor
will then make distributions to Mr. Slane on his Claim as the
Reorganized Debtor determines in its sole discretion.

The Trustee proposes to make payments under the Plan from funds
generated from the sale of its assets, including but not limited
to, surplus equipment and other surplus personal property, certain
Volvo engines and drive pods, the Molds, and the 62.

A full-text copy of the Amended Disclosure Statement dated March
18, 2019, is available at http://tinyurl.com/y5cuarzbfrom
PacerMonitor.com at no charge.

                    About Slane Marine

Slane Marine, Inc., sought protection under Chapter 7 of the
Bankruptcy Code (Bankr. M.D.N.C. Case No. 17-10124) on Feb. 1,
2017, estimating $1 million to $10 million in assets and debt.  The
Debtor tapped Bryant T. Aldridge, Jr., as counsel.

The Hon. Benjamin A. Kahn, the case judge, in May 2018, ordered the
conversion of the case to a Chapter 11 case.

James C. Lanik was appointed as Chapter 11 trustee by order entered
on May 23, 2018. Edward P. Bowers, CPA, at  Middleswarth Bowers &
Co is the Trustee's accountant.


ST. MARKS ENTERPRISES: Seeks to Hire Richard Byron as Counsel
-------------------------------------------------------------
St. Marks Enterprises, Inc., seeks authority from the U.S.
Bankruptcy Court for the Southern District of New York to employ
Richard Byron Peddie, P.C., as counsel to the Debtor.

St. Marks Enterprises requires Richard Byron to represent the
Debtor in the Chapter 11 bankruptcy proceedings.

Richard Byron will be paid at the hourly rate of $300.

Richard Byron will perform the services up to a maximum of 60 hours
for a flat fee of $8,000.

Richard Byron Peddie, partner of Richard Byron Peddie, P.C.,
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.

Richard Byron can be reached at:

     Richard Byron Peddie, Esq.
     LAWSTUDIOS RICHARD BYRON PEDDIE, P.C.
     5051 Euclid Avenue
     Boulder, CO 80303-2831
     Tel: (303) 444-5447

                  About St. Marks Enterprises

St. Marks Enterprises, Inc., filed a Chapter 11 bankruptcy petition
(S.D.N.Y. Case No. 19-10382) on Feb. 10, 2019, estimating under $1
million in both assets and liabilities.  The Debtor is represented
by Richard Byron Peddie, Esq., at Richard Byron Peddie, P.C.


SUNCOR ENERGY: Moody's Hikes CFR & Sr. Unsecured Ratings to 'Ba1'
-----------------------------------------------------------------
Moody's Investors Service upgraded Suncor Energy Ventures
Corporation's (SEV) Corporate Family Rating (CFR) to Ba1 from Ba3,
Probability of Default rating to Ba1-PD from Ba3-PD, and senior
unsecured ratings on its notes to Ba1 from Ba3. At the same time,
Moody's withdrew SEV's SGL-3 speculative grade liquidity rating.
The outlook remains stable.

"The two notch upgrade of SEV's CFR to Ba1 follows a loan
capitalization agreement on intercompany debt executed between
Suncor Energy Inc. (Suncor, Baa1 stable) and SEV," said Terry
Marshall, Moody's Senior Vice President. "Adjusted debt will fall
by nearly two thirds to around $1 billion by Q2 2019 from around $3
billion as of Q3 2018, with debt to EBITDA settling around 1.5x."

Upgrades:

Issuer: Athabasca Oil Sands Investments Inc.

Senior Unsecured Regular Bond/Debenture, Upgraded to Ba1 from Ba3

Issuer: Suncor Energy Ventures Corporation

Corporate Family Rating, Upgraded to Ba1 from Ba3

Probability of Default Rating, Upgraded to Ba1-PD from Ba3-PD

Senior Unsecured Regular Bond/Debenture, Upgraded to Ba1 (LGD4)
from Ba3 (LGD4)

Gtd Senior Unsecured Regular Bond/Debenture, Upgraded to Ba1 (LGD4)
from Ba3 (LGD4)

Withdrawals:

Issuer: Suncor Energy Ventures Corporation

Speculative Grade Liquidity Rating, Withdrawn , previously rated
SGL-3

Outlook Actions:

Issuer: Athabasca Oil Sands Investments Inc.

Outlook, Remains Stable

Issuer: Suncor Energy Ventures Corporation

Outlook, Remains Stable

RATINGS RATIONALE

Suncor Energy Ventures Corporation (SEV; Ba1 stable) benefits from
its ownership by Suncor Energy Inc. (Suncor, Baa1 stable) to which
Moody's attributes 2 notches of rating uplift to SEV's stand-alone
credit profile; long-lived (approximately 16 years of proved
developed reserves), low decline mining oil sands reserves with no
geologic or exploration risk; and 100% synthetic crude oil
production, which trades near WTI pricing. SEV is challenged by its
very high cost structure, history of reliability issues with its
ageing upgrader and single asset concentration.

SEV has adequate liquidity over the twelve months through 2019.
Moody's expects estimated cash of $40 million, and about $650
million of cash from operations to cover about $350 million of
capex and a $180 million (CAD equivalent) note maturity in May
2019. While Moody's expects SEV to cover the maturity with
internally generated cash, any shortfall would be funded by Suncor.
Moody's expects that any cash flow after capex and the repayment of
the maturing note will be distributed to Suncor. SEV does not have
any committed credit facilities. Moody's expects SEV to maintain a
robust covenant compliance cushion (long-term debt to total
capitalization less than 55%; approximately 13% at YE 2018) under
the 2021 senior notes.

The stable outlook reflects Moody's expectation for stable EBITDA
generation supported by consistent production levels with RCF to
debt remaining close to 45%.

The ratings could be upgraded if SEV materially reduces its
concentration in its one asset, its ownership in the single site
Syncrude operation, and maintains debt/EBITDA below 2x (1.5x as of
YE 2018), together with continuing positive free cash flow. Moody's
considers an upgrade unlikely.

The ratings could be downgraded if debt to EBITDA increases towards
3x (1.5x as of YE 2018), Moody's expects a weaker level of support
to be provided by Suncor, there is a drop in production or
liquidity is deemed weak.

The principal methodology used in these ratings was Independent
Exploration and Production Industry published in May 2017.

Suncor Energy Ventures Corporation is based in Calgary, Alberta,
and owns a 36.74% working interest in the Syncrude oil sands mining
and upgrading joint venture. It is wholly-owned by Suncor Energy
Inc.


TALEN ENERGY: S&P Affirms 'B+' ICR on Debt Pay-Down, Outlook Neg.
-----------------------------------------------------------------
S&P Global Ratings affirmed its 'B+' issuer credit rating on U.S.
power and energy supply company Talen Energy Supply LLC (Talen).
The outlook remains negative.

S&P removed the issue-level rating on Talen's unsecured guaranteed
notes from CreditWatch negative and lowered it to 'B', with a '5'
recovery rating, from 'B+'. S&P affirmed the 'BB' issue-level
rating, with a '1' recovery rating, on the company's secured debt
and the 'B-' issue-level rating, with a '6' recovery rating, on
Talen's unsecured unguaranteed debt.

The rating actions reflect Talen's significant debt pay-down and
S&P's view of its improved financial policy. Since November 2018,
Talen has repaid about $620 million of principal (predominantly
unsecured unguaranteed notes) through a combination of tender
offers and the project financing of its Lower Mount Bethel and
Martins Creek assets. Specifically, the company used the $384
million of cash proceeds from the project financing and capacity on
its corporate revolver to repay upcoming corporate debt maturities,
capturing some discount through tenders of notes trading below par.
Because these assets are now pledged for the benefit of lenders in
the project financing, it has structurally subordinated exiting
unsecured lenders, and recovery value for that class of debt has
declined.

The negative outlook on Talen continues to reflect S&P's
expectation that its metrics will remain elevated due to
persistently weak power prices and low cleared capacity prices in
2019 and 2020. S&P expects the company to have leverage above 6.0x
during these two years, declining below 6.0x in 2021 and beyond. It
also expects the company to maintain positive free cash flow and
high availability under the revolving credit facility.

S&P would likely lower its ratings on Talen if the company's
leverage increases above 6.25x on a sustained basis in its
forecasts, either due to diminished market conditions or more
aggressive financial policies. Weaker market conditions could stem
from a variety of factors, including lower-than-expected demand
growth or greater-than-anticipated renewable penetration that
weakens pricing for baseload generators. Policies that could weaken
the company's credit quality include leveraging distributions and
cost reductions that, while credit supportive in the near term,
could weaken its operations over the longer term. Additionally,
difficulty refinancing its debt on economic terms or any dividends
to equity prior to 2021 could lead S&P to lower its ratings.

S&P could revise its outlook on Talen to stable if the company
continues to reduce its costs on synergies stemming from its
acquisition by Riverstone such that it offsets the weakness in the
power markets and causes its leverage metric to decline to around
5.5x or less. While not contemplated in its base case, an
assignment of ZECs to Susquehanna could also lead S&P to revise the
outlook to stable. S&P would also need confidence that management
does not plan to changes its stated financial policies before
revising outlook on the company.


TARA RETAIL: Kroger Objects to Modified 1st Amended Plan Outline
----------------------------------------------------------------
Kroger Limited Partnership I objects to Tara Retail Group, LLC's
Modified First Amended Disclosure Statement referring to its
Modified Second Amended Plan of Reorganization.

Kroger is a tenant of the Debtor's property known as the Crossings
Mall.

Kroger complains that although the Modified Disclosure Statement
and Plan make alternative proposals for Kroger's Claim depending on
the outcome of the final hearing, the Modified Disclosure Statement
and Plan are nevertheless deficient and not entitled to approval or
consideration.

The Modified Disclosure Statement provides no information
whatsoever regarding the values of the Debtor's real estate or
other property. While Kroger has an unsecured claim, Comm 2013 has
a $17 Million secured claim. To the extent the value of Comm 2013's
collateral is less than its claim, Comm 2013 could have a sizeable
unsecured claim which would effect the possible distribution to
Kroger.

In addition to the adequacy of disclosure of the Modified
Disclosure Statement, the Plan itself is facially not confirmable.

The purported sources of funding for the Plan are entirely
speculative, rendering the Plan unfeasible. The Plan provides that
it will be funded through rental payments, proceeds of litigation
against the State of West Virginia and Comm 2013, payments from
Emerald Grande, LLC, proceeds from insurance claims and cash from
the principals of the Debtor. The portion of funding from the
rental payments appears generally based on historic rentals plus
anticipated new leases. While the Debtor's projection may reflect
the best case scenario, it ignores the historical information
available; prior to the flood, the Debtor received approximately
$127,000 in monthly base rent and $118,000 as of October 2018.
Despite this trend, the Debtor projects base rent of $146,000 in
September 2019. Use of this unprecedentedly high figure is
speculative. Further, inclusion of litigation proceeds are
inherently speculative. Finally, by the Debtor's admission, the
insurance companies have denied all insurance claims except those
related to Citizens Unsecured Claims.

A copy of Kroger's Objection is available at
http://tinyurl.com/y5l2ljkpfrom Pacermonitor.com at no charge.

The Troubled Company Reporter previously reported that Comm2013 is
estimated to recover 100% under the plan.

A copy of the Modified First Amended Disclosure Statement is
available for free at:

      http://bankrupt.com/misc/wvnb1-17-00057-834.pdf

Counsel for Kroger Limited Partnership I:

     Julia A. Chincheck (WVSB #718)
     Michael R. Proctor (WVSB #9122)
     Zachary J. Rosencrance (WVSB #13040)
     BOWLES RICE LLP
     600 Quarrier Street
     Post Office Box 1386
     Charleston, West Virginia 25325-1386
     Telephone: (304) 347-1100
     Facsimile: (304) 343-3058
     E-mail: jchincheck@bowlesrice.com
     E-mail: mproctor@bowlesrice.com
     E-mail: zrosencrance@bowlesrice.com

                      About Tara Retail

Tara Retail Group, LLC, owns The Crossings Mall in Elkview, West
Virginia, which had tenants that included Kmart and Kroger.  The
Company is headed by businessman Bill Abruzzino.  The Crossings
Mall has been closed and inaccessible to the public since massive
floods swept through West Virginia on June 23, 2016.

On Dec. 23, 2016, U.S. District Judge Thomas Johnston appointed
Martin Perry, a managing director at Newmark Grubb Knight Frank's
Pittsburgh office, as receiver.

To stop a foreclosure sale of its shopping center, Tara Retail
Group, LLC, filed a Chapter 11 petition (Bankr. N.D. W.Va. Case No.
17-00057) on Jan. 24, 2017.  The petition was signed by William A.
Abruzzino, managing member.  The case judge is the Hon. Patrick M.
Flatley.  The Debtor estimated assets and debt of $10 million to
$50 million.

The Debtor tapped Steven L. Thomas, Esq., at Kay, Casto & Chaney
PLLC as bankruptcy counsel.

Secured creditor COMM2013 CCRE12 Crossings Mall Road, LLC, is
represented in the case by:

     Sharon Troesch, Esq.
     BUCHANAN INGERSOLL & ROONEY PC
     One Oxford Centre
     301 Grant Street, 20th Floor
     Pittsburgh, PA 15219
     Tel: 412-562-8800


TCMA TRUCKING: Case Summary & 16 Unsecured Creditors
----------------------------------------------------
Debtor: TCMA Trucking Inc.
        19411 Clay Road
        Katy, TX 77449

Business Description: Katy, Texas-based TCMA Trucking Inc. offers
                      local trucking services.  The Company
                      previously sought bankruptcy protection on
                      Feb. 6, 2019 (Bankr. S.D. Tex. Case No.
                      19-30738).

Chapter 11 Petition Date: March 24, 2019

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

Case No.: 19-31578

Debtor's Counsel: Keith Anderson Cothroll, Esq.
                  LAW FIRM OF KEITH A. COTHROLL
                  2000 S. Dairy Ashford Rd., Ste 298
                  Houston, TX 77077
                  Tel: 281-406-0209
                  Fax: 832-550-2140
                  Email: kcothroll@cothlaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Felix A. Auz, owner.

A copy of the Debtor's list of 16 unsecured creditors is available
for free at:

      http://bankrupt.com/misc/txsb19-31578_creditors.pdf

A full-text copy of the petition is available for free at:

           http://bankrupt.com/misc/txsb19-31578.pdf


TIVO CORP: S&P Cuts Issuer Credit Rating to 'B+', Outlook Stable
----------------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on TiVo to 'B+'
from 'BB-'. S&P also lowered its issue-level ratings on TiVo's
senior secured first-lien term loan facility to 'BB' from BB+'; the
'1' recovery rating remains unchanged.

The downgrade reflects TiVo's weaker-than-expected operating
performance over the past 12 months, which has increased adjusted
leverage to 4.0x as of Dec. 31, 2018 (from 3.2x as of Dec. 31,
2017). S&P now expects adjusted leverage to remain above 4.0x on a
sustained basis. S&P expects that the company will mainly use cash
on hand to repay the convertible notes due March 2020. The weak
operating performance resulted from the expiry of the Time Warp
patent, elevated legal expenses associated with the Comcast
litigation, and client renewal delays. S&P expects TiVo's operating
performance to remain weak in 2019 driven by elevated expenses
including from restructuring and litigation." The Comcast
litigation continues to present a material risk to the company and
unfavorable rulings could invalidate key patents and impair TiVo's
ability to enforce its patent portfolio going forward.

The company's strategic review process is still ongoing and S&P has
not forecasted any potential changes to the operations or capital
structure of TiVo based on the possible outcomes of the review.

The stable outlook reflects S&P's expectation that TiVo will repay
its $345 million convertible notes mainly with cash on hand leading
to adjusted leverage in the low-4.0x area over the next 12–18
months. The outlook also reflects S&P's view that TiVo will
continue developing and enforcing its portfolio of patents with no
material patent invalidations from its Comcast litigation.

S&P could lower its ratings on TiVo if it believes the company's
ability to continue enforcing its patent has weakened. This could
occur if the Comcast litigation invalidates enough key patents that
there would be material re-contracting risks for existing clients
who licenses the company's portfolio of patents. This would
adversely affect EBITDA and cash flow, which could drive adjusted
leverage above S&P's 5.0x threshold for the rating.

S&P could raise the rating if TiVo's pending litigation with
Comcast results in a favorable outcome for the company, improving
the sustainability of TiVo's patent portfolio. This includes a
settlement with Comcast that results in a licensing agreement. An
upgrade would also require leverage to remain below 3.5x while
generating discretionary cash flow to debt of at least 5% on a
sustained basis."


TRIDENT HOLDING: Seeks to Hire BDO USA as Tax Advisor
-----------------------------------------------------
Trident Holding Company, LLC, and its debtor-affiliates seek
authority from the U.S. Bankruptcy Court for the Southern District
of New York to employ BDO USA, LLP, as tax advisor to the Debtor.

Trident Holding requires BDO USA to:

   a. prepare the federal Form 1065 and certain state tax returns
      for Debtor FC Pioneer Holdings Company, LLC (the "FC
      Pioneer Tax Return Services");

   b. prepare certain state tax returns for Schryver Medical
      Sales and Marketing (the "Schryver Tax Return Services" and
      together with the FC Pioneer Tax Return Services, the "Tax
      Return Services");

   c. consult with the Debtor regarding tax matters such as stock
      basis and other tax matters as requested (the "Tax
      Consulting Services"); and

   d. provide such other services as may be requested by the
      Debtors, including, but not limited to, time for consulting
      on bankruptcy-related tax matters, bankruptcy retention,
      and preparation of fee applications (the "Other Services"
      and together with the Tax Consulting Services.

BDO USA will be paid a flat fee of $34,000 for the tax return
services.

For other accounting services, BDO USA will be paid at these hourly
rates:

     Partners                  $600 to $900
     Managing Director         $500 to $700
     Senior Manager            $400 to $550
     Manager                   $325 to $425
     Senior Associate          $225 to $300
     Associate                 $150 to $200

BDO USA will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Trent Marek, partner of BDO USA, LLP, 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.

BDO USA can be reached at:

     Trent Marek
     BDO USA, LLP
     414 Union Street, Suite 1800
     Nashville, TN 37219
     Tel: (615) 248-2125
     Fax: (615) 248-2126

                 About Trident Holding Company

Trident -- http://www.tridentusahealth.com/-- is a national  
provider of bedside diagnostic and related services in the United
States, with operations in more than 35 states serving more than
12,000 post -acute care, assisted living facilities, and
correctional facilities. It provides a high volume of services
including X-ray, ultrasound, laboratory, cardiac monitoring,
vascular access services, on-site nurse practitioner-based primary
care and more. Trident employs approximately 5,600 people.

Trident Holding Company, LLC and its affiliates sought protection
under Chapter 11 of the Bankruptcy Code (Bankr. S.D.N.Y. Lead Case
No. 19-10384) on Feb. 10, 2019.  The Debtors disclosed $584 million
in assets and $867 million in liabilities as of as of Dec. 31,
2018.

The Debtors tapped Skadden, Arps, Slate, Meagher & Flom LLP and
Togut, Segal & Segal LLP as their legal counsel; PJT Partners LP as
investment banker and financial advisor; Ankura Consulting Group,
LLC as restructuring advisor; and Epiq Corporate Restructuring,
LLC, as claims and noticing agent and administrative advisor.



ULTRA RESOURCES: Moody's Rates 2nd Lien Notes Due 2024 'Caa2'
-------------------------------------------------------------
Moody's Investors Service assigned a Caa2 rating to Ultra
Resources, Inc.'s senior secured second lien notes due 2024.
Moody's also affirmed Ultra's Caa1 Corporate Family Rating (CFR),
Caa1-PD Probability of Default Rating (PDR), Caa3 senior unsecured
notes ratings, B2 ratings on the revolving credit facility and term
loan and SGL-4 Speculative Grade Liquidity Rating. The rating
outlook is negative.

Ultra's second lien notes were issued as part of an exchange offer
in December 2018, in which a majority of its senior unsecured notes
due 2022 and senior unsecured notes due 2025 were exchanged for
$545 million of second lien notes plus warrants. In January and
February 2019, the company exchanged an additional $44.6 million of
its senior unsecured notes due 2022 for $27 million of senior
secured second lien notes due 2024.

Assignments:

Issuer: Ultra Resources, Inc.

Gtd. Senior Secured Notes, Assigned Caa2 (LGD5)

Outlook Actions:

Issuer: Ultra Resources, Inc.

Outlook, Remains Negative

Affirmations:

Issuer: Ultra Resources, Inc.

Probability of Default Rating, Affirmed Caa1-PD

Speculative Grade Liquidity Rating, Affirmed SGL-4

Corporate Family Rating, Affirmed Caa1

Senior Secured First Lien Revolving Credit Facility, Affirmed B2
(LGD2)

Senior Secured First Lien Term Loan, Affirmed B2 (LGD2)

Senior Unsecured Notes, Affirmed Caa3 (LGD6)

RATINGS RATIONALE

The senior secured second lien notes are rated Caa2, one notch
below the Caa1 CFR, reflecting the more junior claim on assets
relative to the secured first lien debt (revolving credit facility
and term loan, which are rated B2) and more senior priority claim
on assets compared to the unsecured debt (rated Caa3).

Ultra's Caa1 CFR reflects its weak cash flow metrics, high leverage
and moderate scale as measured by production. The company's
realized natural gas selling prices have been hurt by low natural
gas prices in the US, which Moody's expects will continue to be
range bound ($2.50-$3.50 per MMBtu), and large negative basis
differentials for natural gas from the Pinedale Field. Leverage, as
measured by retained cash flow to debt (17% as of December 31,
2018), is high and may worsen until the basis differentials for
Rockies natural gas improve. Moody's expects retained cash flow
(RCF) to debt will fall below 15% in 2019. The total debt
(including Moody's adjustments) to PV-10 value of proved reserves
ratio (1.1x as of year-end 2018) is also indicative of high
leverage.

Ultra's SGL-4 rating reflects weak liquidity as lower realized
natural gas prices and a decrease in development activity will lead
to worsening financial covenant ratios and potentially reduce the
revolver's borrowing base in 2019. Liquidity is supported by
unrestricted cash balances ($17 million as of year-end 2018),
availability under its reserves-based revolving credit facility and
operating cash flows. The borrowing base, which covers the $975
million term loan and $325 million revolving credit facility due
January 2022, was reaffirmed at $1.3 billion in February 2019, as
part of an amendment to the facility covenants, and is
re-determined semi-annually. Persistently low natural gas prices
and high basis differentials compared to Henry Hub prices for
Ultra's natural gas sales may pressure the borrowing base when it
is re-determined in the future. Ultra had $221 million of
availability under the revolver as of December 31, 2018, which
should provide sufficient availability for the company's reduced
development plans through 2019. Moody's expects drilling activity
to be funded with internally generated cash flows, and for debt
balances to remain relatively flat.

The revolving credit facility has three financial covenants -- a
minimum EBITDAX to Interest Expense ratio of 2.5x, a minimum
Current Ratio of 1x, and a maximum Net Debt to EBITDAX ratio of
4.75x through June 30, 2019 (stepping up to 4.9x through June 30,
2020, before stepping back down to 4.5x for September 30, 2020, and
to 4.25x for December 31, 2020 and thereafter). Moody's anticipates
Ultra may be required to amend its Net Debt to EBITDAX financial
covenant in order to remain in compliance with the terms of its
credit agreement, if natural gas prices average $2.75 per MMBtu and
basis differentials for Ultra's production remain wide compared to
Henry Hub natural gas prices. Substantially all of the company's
assets are pledged as security under the credit facility, which
limits the extent to which asset sales could provide a source of
liquidity.

The negative outlook reflects uncertainty over Ultra's development
activity, realized natural gas selling prices that will remain low
(at least until additional pipeline infrastructure improves basis
differentials and cash flows) and could lead to a deterioration in
the company's credit metrics. The ratings could be downgraded if
liquidity weakens, production volumes decline materially or if
Moody's expects RCF to debt to remain below 10% for an extended
period. The ratings could be upgraded if liquidity improves, and
the company is able to maintain RCF to debt above 15%, while its
leveraged full-cycle ratio (LFCR) is above 1.0x.

The principal methodology used in these ratings was Independent
Exploration and Production Industry published in May 2017.

Ultra Resources, Inc., a wholly-owned subsidiary of Ultra Petroleum
Corp., is an independent exploration and production company
headquartered in Englewood, Colorado.


VBAR 3 LLC: Seeks to Hire Richard Byron as Counsel
--------------------------------------------------
Vbar 3, LLC, seeks authority from the U.S. Bankruptcy Court for the
Southern District of New York to employ to employ Richard Byron
Peddie, P.C., as counsel to the Debtor.

St. Marks Enterprises requires Richard Byron to represent the
Debtor in the Chapter 11 bankruptcy proceedings.

Richard Byron will be paid at the hourly rate of $300.

Richard Byron will perform the services up to a maximum of 60 hours
for a flat fee of $8,000.

Richard Byron Peddie, partner of Richard Byron Peddie, P.C.,
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.

Richard Byron can be reached at:

     Richard Byron Peddie, Esq.
     LAWSTUDIOS RICHARD BYRON PEDDIE, P.C.
     5051 Euclid Avenue
     Boulder, CO 80303-2831
     Tel: (303) 444-5447

                      About Vbar 3, LLC

Vbar 3, LLC, filed a Chapter 11 bankruptcy petition (Bankr.
S.D.N.Y. Case No. 19-10378) on Feb. 10, 2019, disclosing under $1
million in assets and liabilities.  Richard Byron Peddie, Esq., at
Richard Byron Peddie, P.C., is the Debtor's counsel.



WING PALACE: Plan and Disclosures Hearing Set for April 18
----------------------------------------------------------
Bankruptcy Judge Paul M. Glenn conditionally approved Wing Palace
LLC's small business disclosure statement with respect to a chapter
11 plan dated March 17, 2019.

April 18, 2019 is fixed for the hearing on final approval of the
disclosure statement and for the hearing on confirmation of the
plan. The hearing will be held at 11:30 a.m., in 4th Floor
Courtroom A , 300 North Hogan Street, Jacksonville, Florida.

Any objections to Disclosure or Confirmation must be filed and
served seven days before the hearing.

The Plan places all unsecured creditors in one creditor class:
Class 7. The Plan proposes a distribution of $7,500.00 on account
of Class 7 on a pro-rata basis
on the effective date of the Plan paid over a period of sixty (60)
months.

A full-text copy of the Disclosure Statement is available for free
at https://tinyurl.com/y3n7xjq3 from PacerMonitor.com at no
charge.

                   About Wing Palace LLC

Wing Palace LLC sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. M.D. Fla. Case No. 18-04041) on November
16, 2018.  At the time of the filing, the Debtor had estimated
assets of less than $50,000 and liabilities of less than $500,000.
The case has been assigned to Judge Paul M. Glenn.  The Debtor
tapped Adam Law Group, P.A. as its legal counsel.

No official committee of unsecured creditors has been appointed in
the Chapter 11 case of Wing Palace LLC as of Jan. 17, according to
a court docket.


WOODFORD EXPRESS: S&P Alters Outlook to Positive, Affirms 'B' ICR
-----------------------------------------------------------------
S&P Global Ratings affirmed Woodford Express LLC's 'B' issuer
credit rating and revised the outlook to positive.  The outlook
revision is based on the financial outperformance, S&P's updated
view on the sponsor's financial policy, and its view that
profitability is likely to be more stable than previously expected.
The senior secured term loan is rated 'B+' and the recovery rating
is '2' (rounded estimate: 80%).

Woodford Express LLC materially outperformed S&P's EBITDA
projection in 2018 and S&P now has more confidence in the company's
ability to reach a debt to EBITDA level of about 4.5x by year-end
2019. The company has executed its growth plan while expanding its
customer base within the South Central Oklahoma Oil Province
(SCOOP) basin beyond what S&P had factored into its forecast.

"Importantly, we also believe that the sponsor, Quantum Energy
Partners, will aim to generally maintain this lower level of
leverage over the next few years. Finally, we now expect Woodford's
profitability to exhibit less volatility as the company grows,
although we still expect return on capital to fluctuate somewhat
because a portion of its revenues are subject to commodity price
risk," S&P said.

The positive outlook reflects S&P's view that Woodford will
continue to increase volume throughput on its system while signing
long-term contracts with a significant fixed-fee component. Under
its base-case scenario, S&P expects debt to EBITDA to decline to
below 4.5x in 2019, mainly driven by continued volume growth and
good cost management, while debt is paid down by mandatory
amortization. S&P doesn't expect the company to sweep cash or pay
dividends in 2019.

S&P could consider a higher rating if the company can maintain debt
to EBITDA below 4.5x as it continues to grow in scale, while also
showing that the company's sponsors plan to maintain a less
aggressive financial policy.

S&P could consider revising the outlook to stable if it expects
debt to EBITDA to stay above 4.5x over the next few years, which
would likely be due to lower-than-expected volumes or increased
levels of debt to finance additional capital spending.


                            *********

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.
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Monthly Operating Reports are summarized in every Saturday edition
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The Sunday TCR delivers securitization rating news from the week
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                            *********

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Troubled Company Reporter is a daily newsletter co-published
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