text: TCR_Public/141023.mbx T R O U B L E D C O M P A N Y R E P O R T E R Thursday, October 23, 2014, Vol. 18, No. 295 HeadlinesA.M. CASTLE: Moody's Lowers Corporate Family Rating to Caa2ACCREDITED HOME: Accredited REIT Trust Adopts Liquidation PlanALCO STORES: Great American Touts Lead Bid for ALCO LiquidationAMERICAN ENERGY: Incurs $1.39-Mil. Net Loss in FY Ended June 30AMERICAN RESOURCE: Shouldn't Sell to Daughter, Examiner SaysARCHDIOCESE OF MILWAUKEE: Returns to Bankruptcy CourtASARCO LLC: Sesa Sterlite Pays $82.75-Mil. for Failed PurchaseASSOCIATED WHOLESALERS: Buyers to Renegotiate With TeamstersAVIATION SERVICES: Sued by Ports Authority for Contract BreachAXION INTERNATIONAL: Stockholders OK Reverse Stock SplitBERNARD L. MADOFF: JPMorgan Deal Won't Unravel Fund SettlementBIOFUEL ENERGY: Stockholders Approve JBGL Builder AcquisitionBLOCK COMMUNICATIONS: Moody's Rates Proposed $225MM Term Loan B1BLUE RIBBON: S&P Assigns 'B' Corp. Credit Rating, Outlook StableCASTLE-ROSE INC: Case Summary & 20 Largest Unsecured CreditorsCLUB AT SHENANDOAH: Western Golf Okayed as BookkeeperCOASTLINE INVESTMENT: Hearing on Dismissal Bid Moved to Nov. 4CRUNCHIES FOOD: $250,000 DIP Financing from Delaski ApprovedCRUNCHIES FOOD: Cash Collateral Access Expires on Oct. 24D.A.B. GROUP: Defends Hiring of Counsel and Real Estate BrokerD.A.B. GROUP: Reorganization Plan Mulls Future SaleDARDEN RESTAURANTS: Fitch Rates Credit Protection in BB TerritoryDAYCO LLC: S&P Affirms 'B+' CCR & Revises Outlook to StableDAYCO LLC: Moody's Affirms 'B2' Corporate Family RatingDOMARK INT'L: Posts $658K Net Loss in Aug. 31 QuarterEFUSION SERVICES: Court Dismisses Chapter 11 Bankruptcy CaseENERGY FUTURE: Wants to Tap Balch & Bingham as Special CounselFL 6801 SPIRITS: Z Capital Jilted by Canyon Ranch HotelFRIENDLY ICE CREAM: Friendly's Branch at Harrisburg, PA ClosesGELTECH SOLUTIONS: Issues 598,002 Common Shares COOGENERAL MOTORS: Del High Court Interprets UCC Termination RulesGLOBAL GEOPHYSICAL: Can Proceed with Dec. 5 AuctionGT ADVANCED: Court OKs Joint Administration of Bankruptcy CasesH & S CERT. AUTO: Case Summary & 13 Unsecured CreditorsHOLLY HILL: Ch.11 Trustee Hires CBRE as Real Estate BrokerHOUSTON REGIONAL: Comcast's Appeal Expected If Court OKs PlanHRK HOLDINGS: Can Access Additional Loan From Regions BankINTELLICELL BIOSCIENCES: Taps Dinosaur as Placement AgentIHS INC: Moody's Assigns Ba1 Corp. Family Rating; Outlook StableIHS INC: S&P Assigns 'BB+' CCR on Proposed RefinancingIHS INC: S&P Ratings Unaffected by Upsized NotesKENNY G: Owner Defeated in Emein Suit AppealKID BRANDS: Gets Approval to Resolve Dispute With Disney ConsumerKO-KAUA OHANA: Propsoes GlassRatner as Interest Rate ExpertLEHMAN BROTHERS: Owes $38.6MM, Tobacco Settlement Fund SaysLIBERATOR INC: Issues Letter to ShareholdersLIQUIDMETAL TECHNOLOGIES: Stockholders Elected 6 DirectorsMAIN STREET HOLDINGS: Case Summary & 20 Top Unsecured CreditorsMASON COPPELL: Has Nov. 24 Plan Confirmation HearingMEDICAL PROPERTIES: Moody's Affirms 'Ba1' Corp. Family RatingMICHAEL GLYN BROWN: Court Limits Ex-Wife's Claim to $18,000MVB HOLDING: Names Michael Cavanaugh as Gaming Commission CounselNATROL INC: Has Until February 2015 to File PlanNAUTILUS HOLDINGS: Files Chapter 11 PlanNEPHROS INC: Files 5 Million Shares Prospectus with SECNEW BERN RIVERFRONT: Weaver Can't Appeal Interlocutory OrdersNEW LOUISIANA: Palm Terrace Debtors Win Final Okay on DIP LoanNEW LOUISIANA: Wants to Hire H. Kent Aguillard as Local CounselNEXT 1 INTERACTIVE: Incurs $1.8 Million Net Loss in Aug. 31 Qtr.OCWEN FINANCIAL: Moody's Lowers Corporate Family Rating to B2OCWEN FINANCIAL: S&P Lowers Issuer Credit Rating to 'B'PACIFIC GOLD: OKs Assignment of $37,500 Outstanding NotesPARTS HUB: Case Summary & 7 Unsecured CreditorsPSL-NORTH AMERICA: Seeks Extension of Plan Filing DatePSM HOLDINGS: Reports $5.85-Mil. Net Loss for FY Ended June 30RADNOR HOLDINGS: Suit v. Skadden, Tennenbaum Are Core ProceedingsRESIDENTIAL CAPITAL: Judge Bars 'Scurrilous' Filings by CreditorRESIDENTIAL CAPITAL: Court Expunges Long Beach ClaimRETAIL PROPERTIES: S&P Assigns 'BB' Rating on Series A Pref. StockROCK AIRPORT: Appeal Over MSA's Standing to File Plan Now MootROCK AIRPORT: Loses Appeal Over MSA Claim DisputeSAM ADAMS: Faces Eviction, Has Until Oct. 24 to Pay LandlordSAN BERNARDINO, CA: Police Want Deadline for Filing a PlanSCHWAB INDUSTRIES: Trust's Suit Against SS&G Parkland May ProceedSEARS HOLDINGS: To Sell $625-Mil. 8% Senior Notes to StockholdersSEARS HOLDINGS: S&P Assigns Preliminary 'B-' RatingSEEGRID CORPORATION: Case Summary & 20 Top Unsecured CreditorsSENTINEL MANAGEMENT: BNY Mellon $312-Mil. Lawsuit Isn't OverSHALE-INLAND HOLDINGS: Moody's Cuts Secured Notes Rating to Caa1SOURCE HOME: Seeks February Extension of Exclusive Filing DateSPECIALTY PRODUCTS: Nov. 14 Fixed as Proofs of Claim DeadlineSTHI HOLDINGS: Synergy Health Deal No Impact on Moody's 'B2' CFRTITAN INTERNATIONAL: Moody's Puts 'B1' CFR for DowngradeTLC HEALTH: Deadline to Challenge Lenders' Liens Moved to Oct. 27TPC GROUP: S&P Retains 'B' Rating Over $50MM Secured Notes Add-OnTRIKO LLC: Taps Snell & Wilmer as General Insolvency CounselTRINITY INDUSTRIES: FHA Demands New Testing on GuardrailsTRUMP ENTERTAINMENT: March 9 Set as Governmental Claims Bar DateTRUMP ENTERTAINMENT: Taj Mahal Casino Threatens to CloseUNITEK GLOBAL: To File for Ch 11 Bankruptcy Before Nov. 11UNIVISION NOTICIAS: Closing News Operation, To Lay Off 100 StaffVOYAGER FOUNDATION: S&P Assigns 'BB+' Rating on Revenue BondsWILSON COUNTY MEMORIAL: S&P Raises Rating on 2003 GO Bonds to 'BB'YELLOWSTONE MOUNTAIN: Founder's Wife Sued Over Yacht 'Piano Bar'YOSHI'S SAN FRANCISCO: Jazz Club & Restaurant Renamed as Addition* Mintz Levin's Bae Discusses 3rd Party Protections in Tort Cases* Bingham McCutchen Law Firm Weighs Options* John Harms Joins Huron Consulting Group as Managing Director* Recent Small-Dollar & Individual Chapter 11 Filings *********A.M. CASTLE: Moody's Lowers Corporate Family Rating to Caa2-----------------------------------------------------------Moody's Investors Service downgraded A.M. Castle & Co.'s corporatefamily rating to Caa2 from Caa1, its probability of default ratingto Caa2-PD from Caa1-PD and the rating on Castle's $225 millionsenior secured notes to Caa2 from Caa1. The ratings outlook isnegative. The ratings downgrade and negative outlook reflectCastle's recent weak operating results and deteriorating creditmetrics and the possibility that Castle's liquidity could becomestressed if it does not begin to produce positive free cash flow.Moody's affirmed Castle's Speculative Grade Liquidity Rating ofSGL-3.The following actions were taken:Downgrades: Corporate family rating, lowered to Caa2 from Caa1; Probability of default rating, lowered to Caa2-PD from Caa1-PD; Senior secured notes, lowered to Caa2 (LGD 4) from Caa1 (LGD 4)Outlook Actions: Outlook, assigned negativeAffirmations: Speculative grade liquidity rating, affirmed at SGL-3Ratings RationaleA.M. Castle's Caa2 rating reflects its very high leverage,negative interest coverage, recent operating losses, weakcompetitive position and relatively small size versus other ratedsteel distributors. The rating is supported by Castle's adequateliquidity, which provides some flexibility to pursue operatingefficiency and sales improvement initiatives while contending withvolatile metals prices and uneven end market demand.Castle's recent operating results have been very weak driven bycompetitive market conditions, market share losses, severe winterweather, uneven demand across key end markets, and executionissues related to branch consolidations, systems conversions andinventory management. As a result, the company's revenues havedeclined by about 13.5% to $990 million and its adjusted EBITDAhas plunged 77% to $12 million during the LTM period ended June2014 versus the prior year period. This has led to a significantdeterioration in Castle's credit metrics, with its adjustedleverage ratio (Debt/EBITDA) rising to 31.3x from 7.2x and itsinterest coverage ratio ((EBITDA-CapEx)/Interest Expense)declining to -0.2x from 0.6x.Moody's expects the company's operating results to remain underpressure in the second half of 2014 since demand remains unevenand nickel and aluminum prices have softened recently. Inaddition, Castle may face challenges in regaining market sharewhich has been lost over the past few years as the company focusedon cost cutting and efficiency improvement initiatives andappeared to have lost some of its commercial focus. Therefore,Castle will likely produce adjusted EBITDA of only about $15million in 2014 versus $32 million last year and $81 million in2012. This will result in Castle's leverage ratio (Debt/EBITDA)remaining elevated at about 27.0x and its interest coverage ratio(EBITDA-CapEx/Interest Expense) very weak at about -0.1x sincecapital expenditures will be roughly equal to adjusted EBITDA. Thecompany's operating results should improve in 2015 as they movepast the restructuring disruptions and execution issuesexperienced in the past two years and start to benefit from alower cost structure and a shift in focus to commercialdevelopment initiatives. However, Castle's EBITDA generation willremain at historically depressed levels and its credit metricsvery weak for the company's rating.Castle has an adequate liquidity profile. The company had about$17 million of cash and $92 million of availability on its $125million asset based revolver as of the end of June 2014. However,the ABL revolver matures in December 2015 and the company has beenreliant on this facility since it has produced negative funds fromoperations during the past six quarters and negative free cashflow in the first half of 2014. Castle also utilizes this facilityto support seasonal and cyclical working capital fluctuations.The negative ratings outlook assumes the company's operatingresults and credit metrics will remain at historically depressedlevels and reflects the possibility that Castle's liquidity couldbecome stressed if it does not begin to produce positive free cashflow.The ratings are not likely to experience upward pressure in thenear term. However, a ratings upgrade could occur if the companyreduces its financial leverage below 6.0x and raises its interestcoverage above 1.0x.A downgrade could occur if the leverage ratio remains above 7.0xand the interest coverage ratio below 0.75x. A significantreduction in borrowing availability or liquidity could also resultin a downgrade.The principal methodology used in this rating was GlobalDistribution & Supply Chain Services published in November 2011.Other methodologies used include Loss Given Default forSpeculative-Grade Non-Financial Companies in the U.S., Canada andEMEA published in June 2009.A.M. Castle & Co. is a global distributor of specialty grade, highperformance steel, alloy and plastic products. The company sellsalloy and stainless steels, nickel alloys, aluminum, carbon andtitanium products in the form of bars, tubing, extrusions, plateand sheet. Castle also performs a broad array of processingservices, such as cutting, grinding, shearing and heat treating tomeet specific customer requirements. End markets includeaerospace, oil and gas, heavy equipment and infrastructure. Thecompany generated revenues of $990 million for the twelve monthperiod ended June 30, 2014.ACCREDITED HOME: Accredited REIT Trust Adopts Liquidation Plan--------------------------------------------------------------Pursuant to the Plan of Liquidation approved by shareholders onJanuary 17, 2013, the Board of Trustees of Accredited MortgageLoan REIT Trust has declared a partial liquidating distribution tothe holders of its 9.75% Series A Perpetual Cumulative PreferredShares in the aggregate amount of $5,117,097.50, representing$1.25 per preferred share outstanding. The distribution fromAccredited REIT will be paid on November 14, 2014, to holders ofrecord of its preferred shares as of the close of business onNovember 3, 2014.Accredited REIT has received various payments from the LiquidatingTrust and Consolidated Holdco estate in the matter styled In Re:Accredited Home Lenders Holding Co., et al., Case No. 09-11516pursuant to the provisions of the Debtors' Fifth Amended Chapter11 Plan of Liquidation approved on May 24, 2011, by the U.S.Bankruptcy Court for the District of Delaware. Accredited REITalso continues to collect in due course certain residual paymentson its assets. Upon completion of this latest distribution,Accredited REIT will have distributed an aggregate of$70,615,945.50, or $17.25 per share, to its preferred shareholderssince confirmation of the Fifth Amended Plan.Accredited REIT has received its final payment from theLiquidating Trust in the AHL Bankruptcy. Accredited REIT mayreceive additional payments from the Consolidated Holdco estatepursuant to the Fifth Amended Plan. However, the timing andamount of any such future payments are beyond the control ofAccredited REIT. Copies of the Fifth Amended Plan, the FifthAmended Disclosure Statement, the Bankruptcy Court's OrderConfirming the Fifth Amended Plan and other information concerningthe AHL Bankruptcy may be found at www.kccllc.comThe Board of Trustees of Accredited REIT will declare additionalliquidating distributions to the holders of its preferred sharesif, as and to the extent determined in the sole discretion of itsBoard of Trustees, subject to the provisions of law, the Plan ofLiquidation, and the Declaration of Trust of Accredited REIT, asamended and supplemented to date.Accredited Mortgage Loan REIT Trust, a subsidiary of AccreditedHome Lenders Holding Co., is a Maryland real estate investmenttrust that was formed in May 2004 for the purpose of acquiring,holding and managing real estate assets. Statements regardingfuture events constitute forward-looking statements within themeaning of the federal securities laws. Such statements are basedon current expectations, and the actual results and the timing ofcertain events could differ materially from those contemplated bythese forward-looking statements due to a number of factorsincluding, but not limited to, developments in the AHL Bankruptcyand the liquidity of Accredited REIT. About Accredited HomeSan Diego, California-based Accredited Home Lenders Holding Co. --http://www.accredhome.com/-- was a mortgage banker servicing U.S. markets for conforming and non-prime residential mortgage loansoperating throughout the U.S. and in Canada. Accredited sold itsmortgage-servicing business in July 2009 as part of itsbankruptcy.Accredited Home Lenders and its affiliates sought Chapter 11protection (Bankr. D. Del. Lead Case No. 09-11516) on May 1, 2009.Gregory G. Hesse, Esq., Lynnette R. Warman, Esq., and Jesse T.Moore, Esq., at Hunton & William LLP, serve as the Debtors'bankruptcy counsel. Laura Davis Jones, Esq., James E. O'Neill,Esq., and Timothy P. Cairns, Esq., at Pachulski Stang Ziehl &Jones LLP, serve as Delaware counsel. Kurtzman Carson Consultantsis the Debtors' claims agent. Andrew I Silfen, Esq., Schuyler G.Carroll, Esq., Robert M. Hirsch, Esq., at Arent Fox LLP in NewYork, and Jeffrey N. Rothleder, Esq., at Arent Fox LLP inWashington, DC, represent the official committee of unsecuredcreditors as co-counsel. Neil R. Lapinski, Esq., and Shelley A.Kinsella, Esq., at Elliott Greenleaf, represent the Committee asDelaware and conflicts counsel.Accredited Home Lenders estimated its assets at $10 million to$50 million and its debts at $100 million to $500 million inits Chapter 11 petition.ALCO STORES: Great American Touts Lead Bid for ALCO Liquidation---------------------------------------------------------------Great American Group, Inc., has been selected as a stalking horsebidder in the potential liquidation of ALCO Stores, Inc.The Debtor is seeking to find a "going concern" buyer of thebusiness. If ALCO is unsuccessful in securing a buyer of thebusiness, a bankruptcy auction will take place in mid-November2014 with Great American along with joint venture partners SBCapital and Tiger Capital selected as the stalking horse bidder."Great American has extensive experience working with very largeretailers and creditors in handling complicated and sensitivesituations such as the ALCO assignment," said Scott Carpenter,President of GA Retail Solutions. Great American is a leadingprovider of asset disposition and auction solutions, advisory andvaluation services, capital investment, and real estate advisoryservices."Since the combination of Great American and B. Riley in June ofthis year, the two groups have been actively working together toidentify new business opportunities," said Bryant Riley, Chairmanof both the combined company and of broker dealer B. Riley & Co.LLC. "In addition to increased activity in the liquidationbusiness, the synergies between Great American and B. Riley havepresented opportunities in the auctions business, GA Capital,appraisals, real estate assignments and capital marketsengagements."Two recently announced retail liquidation assignments includeNaartjie Custom Kids, Inc., and Love Culture, Inc. In theNaartjie engagement, Great American was selected to handle theliquidation of all 56 Naartjie locations in the U.S. containingmerchandise with an approximate retail value of $28 million. Inthe Love Culture engagement, Great American was selected to managestore closing sales at all 55 locations containing merchandisewith a retail value of approximately $24 million.A recently announced auction assignment included Todd-Soundelux inwhich Great American's auction division, GA Global Partners, wasone of two companies selected to handle the auction of 3,000 lotsof equipment and assets at over $10 million of cost value for thefamed post-production studio.In addition to U.S.-based auction assignments, GA Global Partnershas expertise in handling international situations, including therecently announced auction of over $100 million of surplus miningand construction equipment from PT Asmin Koalindo Tuhup & PTBorneo Mining Services, located in Jakarta, Indonesia."Great American and B. Riley combined have significant experiencein the Retail and Consumer sectors," added Mr. Riley. "Our B.Riley capital markets group represents many name brand retailersin their financial advisory or capital raising needs. InSeptember, B. Riley was selected to advise and lead the executionof Wet Seal's newly announced financing plan." About ALCO StoresALCO Stores, Inc., operates 198 stores in 23 states throughout thecentral United States. Alco offers 35,000 items at its stores,which are located at smaller markets usually not served by otherregional or national broad line retail chains. The company wasfounded in 1901 as a general merchandising operation in Abilene,Kansas.ALCO is a public company, and its common stock is quoted on theNASDAQ National Market tier of the NASDAQ Stock Market under theticker symbol "ALCS."ALCO Stores and ALCO Holdings LLC sought Chapter 11 bankruptcyprotection (Bankr. N.D. Tex. Lead Case No. 14-34941) in Dallas,Texas, on Oct. 12, 2014, with plans to let liquidators conductstore closing sales or sell the business to a going-concern buyer.Judge Stacey G. Jernigan presides over the Chapter 11 cases.The Debtors have DLA Piper LLP (US) as counsel, Houlihan LokeyCapital, Inc., as financial advisor, and Prime Clerk LLC as claimsand noticing agent.As of July 2014, ALCO Stores had assets totaling $222 million andliabilities totaling $162 million. The bulk of the liabilitieswas total debt outstanding under a credit facility with WellsFargo Bank, National Association, of which the aggregateoutstanding was $104.2 million as of the Petition Date.AMERICAN ENERGY: Incurs $1.39-Mil. Net Loss in FY Ended June 30---------------------------------------------------------------The American Energy Group, Ltd., filed with the U.S. Securitiesand Exchange Commission on Oct. 14, 2014, its annual report onForm 10-K for the fiscal year ended June 30, 2014.Pritchett, Siler & Hardy, P.C., expressed substantial doubt aboutthe Company's ability to continue as a going concern, citing thatthe Company has incurred losses and negative cash flows fromoperations.The Company reported a net loss of $1.39 million on $1.11 millionof revenue for the fiscal year ended June 30, 2014, compared witha net loss of $79,419 on $1.22 million of revenue last year.The Company's balance sheet at June 30, 2014, showed $4.79 millionin total assets, $1.1 million in total liabilities andstockholders' equity of $3.69 million.A copy of the Form 10-K is available at: http://is.gd/UC01naWestport, Connecticut-based The American Energy Group, Ltd.,operates as an energy resource royalty company. It owns aninterest in two oil and gas leases located in Southeast Texas; andholds 18% overriding royalty interest in the Yasin Concessionlocated in Pakistan. The Company also holds a 2.5% workinginterest on oil and gas production acreage in Sanjawi Blocklocated in Baluchistan Province and in Zamzama North Block locatedin Sindh Province, Pakistan. The Company was formerly known asBelize-American Corp. Internationale and changed its name to TheAmerican Energy Group, Ltd. in November 1994.AMERICAN RESOURCE: Shouldn't Sell to Daughter, Examiner Says------------------------------------------------------------Bill Rochelle and Sherri Toub, bankruptcy columnists for BloombergNews, reported that Jennifer Rood, the examiner appointed in theChapter 11 case of American Resource Staffing Network Inc.,recommended that the bankruptcy judge in New Hampshire denyapproval of the sale of the temporary staffing company to theowner's daughter.According to the report, Ms. Rood pointed out that the salecontract, nominally for $2.4 million, has no fixed payments andthe daughter would pay as much as $500,000 in installments fromnet income for years. Consequently, the business could continueeven if the purchase price weren't paid, the examiner said, thereport related. About American ResourceAmerican Resource Staffing Network, Inc., and American ResourceNetwork, Inc., which places hundreds of workers into New Englandcompanies that need temporary help, sought protection underChapter 11 of the Bankruptcy Code on July 31, 2014. The lead caseis In re American Resource Staffing Network, Inc., Case No. 14-11527 (Bankr. D.N.H.).The Debtors are represented by Deborah A. Notinger, Esq., atCleveland, Waters & Bass, P.A., in Nashua, New Hampshire, andSteven M. Notinger, Esq., at Cleveland, Waters & Bass, P.A., inConcord, New Hampshire.ARCHDIOCESE OF MILWAUKEE: Returns to Bankruptcy Court-----------------------------------------------------Tom Corrigan, writing for Daily Bankruptcy Review, reported thatthe Archdiocese of Milwaukee was back in bankruptcy court todiscuss its progress after a judge insisted that the archdioceseand hundreds of sexual-abuse claimants work more quickly toresolve sticking points that for nearly four years have foiledattempts to produce a settlement. According to the report, duringthe hearing, lawyers updated Judge Susan Kelley of the U.S.Bankruptcy Court in Milwaukee on a key insurance settlement aswell as the archdiocese's bid to have 11 abuse claims against itdismissed. About Archdiocese of MilwaukeeThe Diocese of Milwaukee was established on Nov. 28, 1843, andwas elevated to an Archdiocese on Feb. 12, 1875, by Pope PiusIX. The region served by the Archdiocese consists of 4,758 squaremiles in southeast Wisconsin which includes counties Dodge, Fonddu Lac, Kenosha, Milwaukee, Ozaukee, Racine, Sheboygan, Walworth,Washington and Waukesha. There are 657,519 registered Catholicsin the Region.The Catholic Archdiocese of Milwaukee, in Wisconsin, filed forChapter 11 bankruptcy protection (Bankr. E.D. Wis. Case No.11-20059) on Jan. 4, 2011, to address claims over sexual abuseby priests on minors.The Archdiocese became at least the eighth Roman Catholic diocesein the U.S. to file for bankruptcy to settle claims from currentand former parishioners who say they were sexually molested bypriests.Daryl L. Diesing, Esq., at Whyte Hirschboeck Dudek S.C., inMilwaukee, Wisconsin, serves as the Archdiocese's counsel. TheOfficial Committee of Unsecured Creditors in the bankruptcy casehas retained Pachulski Stang Ziehl & Jones LLP as its counsel, andHoward, Solochek & Weber, S.C., as its local counsel.The Archdiocese estimated assets and debts of $10 million to$50 million in its Chapter 11 petition.ASARCO LLC: Sesa Sterlite Pays $82.75-Mil. for Failed Purchase--------------------------------------------------------------Patrick Fitzgerald, writing for Daily Bankruptcy Review, reportedthat India's Sesa Sterlite Ltd. said that it has paid $82.75million to Asarco LLC stemming from its failed attempt to acquirethe U.S.-based copper miner in 2008.According to a press statement dated Oct. 22, 2014, Sesa said "ithas received the necessary approval from Reserve Bank of India forremittance of US$82.75 million to Asarco LLC in order to satisfythe Judgment of the US Bankruptcy Court. Subsequently, pursuantto a settlement agreement entered on Oct 17, 2014, between theparties, the Company has paid the approved amount to Asarco LLCand the parties have settled all their claims against each otherin this matter. Accordingly, all pending appeals have beenwithdrawn by the parties, all enforcement actions have beenterminated by Asarco LLC and the Turnover Order has been vacatedby the US Bankruptcy Court. The Company had already recognized theJudgment amount of US$82.75 million as expenses and as liabilityin FY2012." About Asarco LLCBased in Tucson, Arizona, ASARCO LLC -- http://www.asarco.com/-- is an integrated copper mining, smelting and refining company.Grupo Mexico S.A. de C.V. is ASARCO's ultimate parent.ASARCO LLC filed for Chapter 11 protection (Bankr. S.D. Tex. CaseNo. 05-21207) on Aug. 9, 2005. Attorneys at Baker BottsL.L.P., and Jordan, Hyden, Womble & Culbreth, P.C., representedthe Debtor in its restructuring efforts.On Dec. 9, 2009, Asarco Incorporated and Americas MiningCorporation's Seventh Amended Plan of Reorganization for theDebtors became effective and the ASARCO Asbestos Personal InjurySettlement Trust was created and funded with nearly $1 billion inassets, including more than $650 million in cash plus a $280million secured note from Reorganized ASARCO. The Plan, which wasconfirmed both by the bankruptcy and district courts, reintegratedASARCO LLC back to parent Grupo Mexico concluding the four-yearChapter 11 proceeding.ASSOCIATED WHOLESALERS: Buyers to Renegotiate With Teamsters------------------------------------------------------------Leaders of the International Brotherhood of Teamsters recently metto organize their response to developments in the Chapter 11 caseof Associated Warehousing Inc., Bruce Vail reported forinthesetimes.com.According to the report, Sandy Pope, President of Local 805 inLong Island City, New York, said the union had already fileddocuments with the court to encourage other potential buyers ofAWI to come forward and bid against C&S Wholesale Grocers, whichis seeking to buy AWI.According to the report, Ms. Pope said two other bidders have comeforward. No firm agreements have been made with any of thepotential bidders, but each, including C&S, has said they want torenegotiate existing Teamster contracts and offer jobs to"substantially all" of AWI?s current employees, the report added."We've had extremely bad experiences with C&S. They have a prettybad record," Ms. Pope said.She also said, "The reason AWI went to court in the first place,rather than just do[ing] a straight sale, is that they want todump all the debt. . . . That includes more than $30 million inliability to four of our [Teamster] pension funds, which arehurting already."According to the report, Ms. Pope said a coalition of sixTeamsters locals from Pennsylvania, New Jersey and New York areorganized with legal and financial experts from union headquartersto fight for the members.As reported by the Troubled Company Reporter on Oct. 14, 2014,Delaware Bankruptcy Judge Kevin J. Carey approved the proceduresgoverning the bidding and sale of the assets of AssociatedWholesalers Inc. and its debtor-affiliates. A qualified bid forthe assets must be submitted on or before Oct. 22 so an auctionscheduled for Oct. 24 can proceed. The auction will be followedby a sale hearing on Oct. 29.If no other bid is timely received, Associated Wholesalers and itsWhite Rose grocery distribution business will be sold to so-calledstalking horse C&S Wholesale Grocers Inc. If a competing bid isdeclared the winning bid, C&S will be paid a break-up fee in thereduced amount of $3,750,000 and reimbursed for any necessaryexpenses in the amount of up to $1.5 million.As reported by the TCR, the C&S purchase price consists of thelesser of the amount of the bank debt, which totals about$18,100,000 and $152,110,000, plus other liabilities, which amountis valued at $193,900,000. Bill Rochelle, a bankruptcy columnistfor Bloomberg News, previously reported that, aside from the C&Sstalking horse bid, Supervalu Inc. and another yet unnamed companyhave also offered a bid for the assets. About Associated WholesalersFounded in 1962 and headquartered in Robesonia, Pennsylvania,Associated Wholesalers Inc. services 800 supermarkets, specialtystores, convenience stores and superettes with grocery, meat,produce, dairy, frozen foods and general merchandise/health andbeauty care products. AWI, which owns distribution facilities inRobesonia, Pennsylvania, and York, Pennsylvania, serves the mid-Atlantic United States. AWI is owned by its 500 retail members,who in turn operate supermarkets. AWI has 1,459 employees.White Rose Inc. is a food wholesaler and distributor serving thegreater New York metropolitan area. The company traces itsorigins to 1886, when brothers Joseph and Sigel Seeman foundedSeeman Brothers & Doremus to provide grocery deliveries throughoutNew York City. White Rose carries out its operations throughthree leased warehouse and distribution centers, two of which arelocated in Carteret, New Jersey, and one in Woodbridge, NewJersey. White Rose has 777 employees.Associated Wholesalers and its affiliates sought Chapter 11bankruptcy protection on Sept. 9, 2014, to sell their assets under11 U.S.C. Sec. 363 to C&S Wholesale Grocers, absent higher andbetter offers.The Debtors have sought joint administration of their Chapter 11cases for procedural purposes, seeking to maintain all pleadingson the case docket for AWI Delaware, Inc., Bankr. D. Del. Case No.14-12092.As of the Petition Date, the Debtors owe the Bank Group(consisting of lenders, Bank of America, N.A., Bank of AmericanSecurities LLC as sole lead arranger and joint book runner, WellsFargo Capital Finance, LLC as joint book runner and syndicationagent, and RBS Capita, as documentation agent) an aggregateprincipal amount of not less than $131,857,966 (inclusive ofoutstanding letters of credit), plus accrued interest. TheDebtors estimate trade debt of $72 million.Saul Ewing LLP and Rhoads & Sinon LLP are serving as legaladvisors to the Debtors, Lazard Middle Market is serving asfinancial advisor, and Carl Marks Advisors is serving asrestructuring advisor to AWI. Carl Marks' Douglas A. Booth hasbeen tapped as chief restructuring officer. Epiq Systems servesas the claims agent.AVIATION SERVICES: Sued by Ports Authority for Contract Breach--------------------------------------------------------------Alexie Villegas Zotomayor at Marianas Variety reports that theCommonwealth Ports Authority has filed a lawsuit in the CNMISuperior Court against Aviation Services Ltd., dba Freedom Air,for four counts of breach of contract and three counts of trespassto land.Marianas Variety states that CPA is claiming that Freedom Airdefaulted on its obligations: (i) a 15-year lease for twounsurveyed parcels of land on Saipan, wherein Freedom Air must pay$313.80 per month and "for each succeeding five-year term therental rate will increase by 20 percent of the immediatelypreceding five-year term", but instead has defaulted since March1, 2011; (ii) a 15-year lease for two unsurveyed parcels of landon Saipan, wherein Freedom Air must pay $313.80 per month and "foreach succeeding five-year term the rental rate will increase by 20percent of the immediately preceding five-year term"; (iii) 15-year lease of 27,136 square feet at the Saipan InternationalAirport, wherein Freedom Air must pay CPA $1,000 per month; and(iv) a floor-space lease for $300 per month at the RotaInternational Airport, wherein CPA asked that the base monthlyrental will increase by 20 percent every five years that the leaseis renewed and that Freedom Air will pay for utility servicesused. CPA terminated the leases in July 2014, the report adds.Marianas Variety relates that CPA is claiming Freedom Air alsoknowingly and intentionally trespassed on both Parcels A and B,CPA's building, on its parcel of land at the Saipan InternationalAirport, and on its property at the Rota International Airport.Matthew T. Gregory, Esq., represents CPA, Marianas Varietyreports.Freedom Air filed for Chapter 11 bankruptcy on Sept. 27, 2014.The case is In re Aviation Services Ltd., 13-00113, U.S.Bankruptcy Court, District of Guam.As reported by the Troubled Company Reporter on Oct. 2, 2013,Bloomberg News bankruptcy columnist Bill Rochelle reported thatFreedom Air listed assets and debt both less than $10 million inits petition.AXION INTERNATIONAL: Stockholders OK Reverse Stock Split--------------------------------------------------------Axion International Holdings, Inc., disclosed with the U.S.Securities and Exchange Commission that these proposals wereapproved by its shareholders: (1) The proposal to amend the Company's current Articles of Incorporation to effect a reverse stock split of the Company's common stock by a ratio of not less than 1-for-8 and not more than 1-for-20 at any time prior to March 31, 2015, with the Board of Directors having the discretion as to whether or not the Reverse Stock Split is to be effected, and with the exact ratio of any Reverse Stock Split to be set at a whole number within the above range as determined by the Board in its discretion; (2) The proposal to, in the event the Company's Board effects the Reverse Stock Split, approve an amendment to the Company's current Articles of Incorporation to decrease the number of authorized shares of the Company's common stock from 250,000,000 shares to an amount equal to 250,000,000 divided by the number of shares being combined into one pursuant to the Reverse Stock Split; and (3) The proposal to amend the Company's current Articles of Incorporation to provide for the automatic conversion of the Company's preferred stock immediately upon the Company's shares of common stock being listed upon a U.S. based stock exchange. About Axion InternationalNew Providence, N.J.-based Axion International Holdings, Inc. (OTCBB: AXIH) - http://www.axionintl.com/-- is the exclusive licensee of patented and patent-pending technologies developed for theproduction of structural plastic products such as railroadcrossties, pilings, I-beams, T-Beams, and various size boardsincluding a tongue and groove design that are utilized in multipleengineered design solutions such as rail track, rail and tankbridges (heavy load), pedestrian/park and recreation bridges,marinas, boardwalks and bulk heading to name a few.AXION International reported a net loss of $24.19 million on $6.63million of revenue in 2013, compared to a net loss of $5.43million on $5.34 million of revenue in 2012.Following the 2013 results, BDO USA, LLP, expressed substantialdoubt about the Company's ability to continue as a going concern,stating that the Company has suffered recurring losses fromoperations and has working capital and net capital deficiencies.BDO USA, LLP also issued a "going concern" qualification on theconsolidated financial statements for the year ended Dec. 31,2012.As of June 30, 2014, the Company had $16.40 million in totalassets, $34.04 million in total liabilities, $6.94 million in 10%convertible preferred stock, and a $24.58 million totalstockholders' deficit.BERNARD L. MADOFF: JPMorgan Deal Won't Unravel Fund Settlement--------------------------------------------------------------Bill Rochelle and Sherri Toub, bankruptcy columnists for BloombergNews, reported U.S. Bankruptcy Judge Stuart Bernstein in Manhattansided with Irving Picard, the trustee liquidating Bernard L.Madoff Investment Securities LLC, concluding that the settlementbetween the trustee and JPMorgan Chase & Co. is not similar with aJune 2009 settlement between the trustee and two hedge funds.According to the report, Judge Bernstein said the agreement withthe hedge funds, which contains a so-called most-favored-nationclause obligating the trustee to return a portion of his recoveryif he made a similar settlement in another lawsuit for less than85%, pertains only to claims that were "indefensible preferences."The JPMorgan settlement, under which the bank agreed to pay $2.24billion, was different, because it was part of a global settlementthat avoided criminal as well civil liability, according to JudgeBernstein, the report related. About Bernard L. MadoffBernard L. Madoff Investment Securities LLC and Bernard L. Madofforchestrated the largest Ponzi scheme in history, with lossestopping US$50 billion. On Dec. 15, 2008, the Honorable Louis A.Stanton of the U.S. District Court for the Southern District ofNew York granted the application of the Securities InvestorProtection Corporation for a decree adjudicating that thecustomers of BLMIS are in need of the protection afforded by theSecurities Investor Protection Act of 1970. The District Court'sProtective Order (i) appointed Irving H. Picard, Esq., as trusteefor the liquidation of BLMIS, (ii) appointed Baker & Hostetler LLPas his counsel, and (iii) removed the SIPA Liquidation proceedingto the Bankruptcy Court (Bankr. S.D.N.Y. Adv. Pro. No. 08-01789)(Lifland, J.). Mr. Picard has retained AlixPartners LLP as claimsagent.On April 13, 2009, former BLMIS clients filed an involuntaryChapter 7 bankruptcy petition against Bernard Madoff (Bankr.S.D.N.Y. 09-11893). The petitioning creditors -- Blumenthal &Associates Florida General Partnership, Martin RappaportCharitable Remainder Unitrust, Martin Rappaport, Marc Cherno, andSteven Morganstern -- assert US$64 million in claims against Mr.Madoff based on the balances contained in the last statements theygot from BLMIS.On April 14, 2009, Grant Thornton UK LLP as receiver placed MadoffSecurities International Limited in London under bankruptcyprotection pursuant to Chapter 15 of the U.S. Bankruptcy Code(Bankr. S.D. Fla. 09-16751).The Chapter 15 case was later transferred to Manhattan. In June2009, Judge Lifland approved the consolidation of the Madoff SIPAproceedings and the bankruptcy case.Judge Denny Chin of the U.S. District Court for the SouthernDistrict of New York on June 29, 2009, sentenced Mr. Madoff to150 years of life imprisonment for defrauding investors in UnitedStates v. Madoff, No. 09-CR-213 (S.D.N.Y.).From recoveries in lawsuits coupled with money advanced by SIPC,Mr. Picard has commenced distributions to victims, with the fourthand latest batch of distributions done in May 2014. Distributionsto eligible claimants have totaled almost $6 billion, whichincludes $812.2 million in committed advances from the SIPC. Morethan 1,100 victims have already recovered the full principal theylost in the fraud.As of May 2014, Mr. Picard has recovered or reached agreements torecover $9.8 billion since his appointment in December 2008.BIOFUEL ENERGY: Stockholders Approve JBGL Builder Acquisition-------------------------------------------------------------Biofuel Energy Corp. disclosed with the U.S. Securities andExchange Commission that, at the annual meeting of stockholdersheld on Oct. 17, 2014, stockholders of the Company approved allthe proposals set forth in the definitive proxy statement filedwith the SEC on Sept. 18, 2014, including those proposals relatedto a transaction agreement, dated as of June 10, 2014, by andamong the Company, certain affiliates of Greenlight Capital, Inc.,Brickman Member Joint Venture, JBGL Builder Finance LLC andcertain subsidiaries of JBGL Capital, LP.As reported by the TCR on June 24, 2014, Biofuel Energy hadentered into a definitive agreement with certain affiliates ofGreenlight Capital and James R. Brickman pursuant to which theCompany will acquire the equity interests of JBGL Builder FinanceLLC and certain subsidiaries of JBGL Capital, LP, from Greenlightand Brickman. JBGL is a series of real estate entities involvedin the purchase and development of land for residential purposes,construction lending and home building operations. JBGL iscurrently owned and controlled by Greenlight and Brickman.The Company has received the requisite stockholder approvals toconsummate the Transactions and, subject to the satisfaction orwaiver of the remaining closing conditions (including thecompletion of a five business day period following the expirationof the rights offering described below as set forth in theTransaction Agreement), the Transactions are expected to close aspromptly as practicable. The closing of the Transactions remainssubject to customary closing conditions and the receipt of listingapproval from NASDAQ for the continued listing of the Company'scommon stock on the Nasdaq Capital Market after the consummationof the Transactions. Expiration of $5.00 per Share Rights OfferingThe Company also announced that the subscription period of itsrights offering expired at 5:00 p.m., New York City time, onOctober 17, 2014.Based on preliminary results, the Company received approximately$59.9 million through the exercise of basic subscription rights inthe rights offering, including amounts committed to be purchasedby Greenlight and its affiliates, which represents the exercise ofapproximately 85.6% of the rights issued by the Company in therights offering. Holders who exercised their basic subscriptionrights (excluding Greenlight which agreed not to exercise itsover-subscription right) also exercised approximately 49.1% of theover-subscription rights available to such exercising holders,including amounts committed to be purchased by affiliates of ThirdPoint LLC through a priority over-subscription right. Based onpreliminary results, the Company expects that Third Point willreceive a full allocation of shares pursuant to its priority over-subscription right resulting in a purchase of approximately $9.3million of additional shares and that other holders ofsubscription rights who properly exercised over-subscriptionrights will be allocated shares for an aggregate purchase price ofapproximately $800,000 on a pro-rata basis, which representsapproximately 11.4% of the shares that they over-subscribed for.The total gross proceeds to be received by the Company in therights offering will be $70 million. No shares will be issued tothe parties that provided backstop commitments in connection withthe rights offering (other than Third Point). All shares to beissued by the Company in the rights offering will be purchased byexercising holders at a price of $5.00 per share.Subscription rights that were not properly exercised by 5:00 p.m.,New York City time, on Oct. 17, 2014, have expired and are nolonger exercisable.The results of the rights offering are preliminary and subject tofinalization and verification by the subscription agent,Broadridge Corporate Issuer Solutions, Inc.The stockholders also approved, among other things: -- an amendment to the Amended and Restated Certificate of Incorporation of the Company to increase the number of authorized shares of Common Stock; -- an amendment to the Charter to change the name of the Company to "Green Brick Partners, Inc."; -- an amendment to the Charter to eliminate all provisions in the Charter relating to the units of membership interests of BioFuel Energy, LLC, and the Class B Common Stock; -- an amendment to the Charter to preserve certain tax benefits; -- the compensation that may be paid or may become payable to the Company's named executive officers in connection with, or following, the consummation of the Transactions; -- the 382 Rights Agreement, dated as of March 27, 2014, between the Company and Broadridge Corporate Issuer Solutions, Inc.; and -- the compensation of the Company's executives and the holding of future advisory vote on executive compensation on an annual basis.Mark W. Wong, Scott H. Pearce, Elizabeth K. Blake, David Einhorn,Richard I. Jaffee, John D. March and Ernest J. Sampias were to theBoard of Directors to hold office until the 2015 annual meeting ofstockholders and the due election and qualification of theirrespective successors. About Biofuel EnergyDenver, Colo.-based BioFuel Energy Corp. (Nasdaq: BIOF) --http://www.bfenergy.com/-- aims to become a leading ethanol producer in the United States by acquiring, developing, owning andoperating ethanol production facilities. It currently has two115 million gallons per year ethanol plants in the Midwestern cornbelt.Biofuel Energy incurred a net loss of $45.65 million in 2013, anet loss of $46.32 million in 2012 and a net loss of $10.36million in 2011. The Company's balance sheet at June 30, 2014,showed $8.84 million in total assets, $1.40 million in totalliabilities and $7.43 million in total equity.BLOCK COMMUNICATIONS: Moody's Rates Proposed $225MM Term Loan B1----------------------------------------------------------------Moody's Investors Service assigned Ba1 to Block Communications,Inc.'s proposed $225 million 1st lien senior secured term loan.Proceeds from the new term loan along with roughly $6 million ofbalance sheet cash will be used to fund the $200 millionacquisition of MetroCast cable television operations, includingtransaction related fees and expenses as well as repay anestimated $23 million of advances under the senior securedrevolver. In addition, Moody's assigned Ba1 to the $100 million1st lien senior secured revolver and downgraded the existing $250million senior notes due 2020 to B1 from Ba3 reflecting theeffective subordination of the senior notes to the increasedsenior secured credit facilities. Moody's also affirmed Block'sBa3 Corporate Family Rating (CFR) and Ba3-PD Probability ofDefault Rating (PDR). The rating outlook remains stable.Assignments:Issuer: Block Communications, Inc. NEW $225 million 1st Lien Senior Secured Term Loan: Assigned Ba1, LGD2 Existing $100 million 1st Lien Senior Secured Revolver: Assigned Ba1, LGD2Downgraded: $250 million of 7.25% Senior Notes due 2020: Downgraded to B1, LGD5 from Ba3, LGD4Affirmed:Issuer: Block Communications, Inc. Corporate Family Rating: Affirmed Ba3 Probability of Default Rating: Affirmed Ba3-PDOutlook Actions:Issuer: Block Communications, Inc. Outlook is StableRatings RationaleThe Ba3 corporate family rating reflects Block's moderate debt-to-EBITDA of approximately 4.2x estimated for FYE2014 (includingMoody's standard adjustments) and pro forma for announcedtransactions with mid-single digit percentage free cash flow-to-debt ratios. Consistent EBITDA generation from cable and telecomoperations support the Ba3 CFR, despite EBITDA losses from thenewspaper segment and EBITDA margins below industry peers fortelevision broadcast operations. Block has a track record ofmaintaining acceptable leverage, and Moody's expect the company toapply free cash flow to reduce debt balances and position thecompany more strongly in the Ba3 rating. The pending acquisitionsof cable (MetroCast for $200 million) and telecom businesses (LineSystem Inc. for $47.5 million) add scale as well as geographicdiversity and reduces exposure to newspaper operations whichcontinue to weigh on debt ratings. Newspaper revenue has declinedin line with its peer group contributing to increasing annualEBITDA losses for the publishing segment since 2011. Lookingforward, Moody's believe management will be able to meaningfullyreduce losses from newspaper operations due to announcedrestructurings which will result in headcount reductions and tomore efficient production from its new printing press. Secularchanges negatively affecting traditional print media pressure thecompany's newspaper segment revenue and free cash flow. Liquidityis expected to be good with at least $65 million of revolveravailability, and no significant debt maturities for at least twoyears.The stable outlook reflects Moody's expectation that, absent cableplant upgrades, debt funded acquisitions or sustained increases inunfunded pension liabilities, debt-to-EBITDA ratios will remainless than 4.5x (including Moody's standard adjustments) with mid-single digit percentage free cash flow-to-debt ratios as growth incombined EBITDA from cable, telecommunications, and broadcastsegments offsets losses from newspaper operations. The outlookincorporates expectations for good execution of assimilatingannounced cable and telecom acquisitions, some progress instabilizing recent subscriber losses in Toledo, and realization ofsubstantially reduced costs for newspaper publishing operations.The outlook does not incorporate significant shareholderdistributions or another significant debt financed acquisition.Ratings could be downgraded if Moody's believe the company wouldnot be able to generate positive free cash flow in the absence ofextraordinary capital spending or investment, or if there isdeterioration in the performance of cable or telecommunicationssegments. Inability to realize expected cost reductions for thenewspaper segment or debt-to-EBITDA ratios being sustained above4.5x (including Moody's standard adjustments) could also lead to adowngrade. The company's lack of national or regional scale andnewspaper exposure constrain ratings; however, ratings could beupgraded if newspaper revenue stabilizes and EBITDA losses areeliminated with total debt-to-EBITDA ratios being sustainedcomfortably below 3.0x (including Moody's standard adjustments)and free cash flow-to-debt ratios of 10% or more. Moody's wouldalso need to be assured that the company will operate in afinancially prudent manner consistent with a higher rating.A privately held diversified media company founded in 1900, BlockCommunications, Inc. has operations in cable television andtelecommunications (roughly 68% of LTM June 2014 revenue pro formafor announced transactions), newspaper publishing (23%), andtelevision broadcasting (9%). The company's cable operations servethe greater Toledo, OH metropolitan area including Michigansuburbs, the northern half of Mississippi through its pendingMetroCast acquisition, and Erie County in Ohio. Block operates twodaily metropolitan newspapers in Pittsburgh, PA and Toledo, OH, aswell as television stations in Lima, OH, Louisville, KY, Boise,ID, and Decatur, IL. The company maintains its headquarters inToledo with pro forma revenue of $566 million for LTM June 30,2014.Block Communications, Inc.'s ratings were assigned by evaluatingfactors that Moody's considers relevant to the credit profile ofthe issuer, such as the company's (i) business risk andcompetitive position compared with others within the industry;(ii) capital structure and financial risk; (iii) projectedperformance over the near to intermediate term; and (iv)management's track record and tolerance for risk. Moody's comparedthese attributes against other issuers both within and outsideBlock Communications, Inc.'s core industry and believes BlocksCommunications, Inc.'s ratings are comparable to those of otherissuers with similar credit risk. Other methodologies used includeLoss Given Default for Speculative-Grade Non-Financial Companiesin the U.S., Canada and EMEA published in June 2009.BLUE RIBBON: S&P Assigns 'B' Corp. Credit Rating, Outlook Stable----------------------------------------------------------------Standard & Poor's Ratings Services assigned its 'B' corporatecredit rating to Los Angeles-based Blue Ribbon IntermediateHoldings LLC. The outlook is stable.At the same time, S&P assigned a 'B' issue-level rating to thecompany's proposed $75 million revolving credit facility due 2019and $395 million first-lien term loan due 2021 with a '3' recoveryrating. The '3' recovery rating indicates S&P's expectation ofmeaningful (50% to 70%) recovery in the event of payment default.S&P also assigned a 'CCC+' issue-level rating to the company'sproposed $130 million second-lien facility due 2022. The '6'recovery rating indicates S&P's expectation of negligible (0% to10%) recovery in the event of payment default.Blue Ribbon, through its operating company, Pabst, is a virtualbrewer and benefits from a low cost structure arising from itsagreement with a large U.S. brewer to contract, produce, anddeliver essentially all of Pabst's ongoing volume. The companywill use the proceeds from the debt offering, along with commonequity from the Great American Brewing Company and TSG ConsumerPartners LLC, to fund the purchase of Blue Ribbon, to refinancethe company's existing debt outstanding, and to pay fees andexpenses."Our ratings on Blue Ribbon incorporate our expectation that thecompany will be highly leveraged, maintaining debt leverage above6x, despite our expectation for some debt reduction," saidStandard & Poor's credit analyst Bea Chiem. "Other factorsconsidered include Pabst's relatively small size and narrow focuswithin the highly competitive U.S. beer industry, and its regionalbrand strength in the sub-premium or value-priced beer segment inthe U.S., as well as its limited geographic diversification."The outlook is stable. S&P expects Blue Ribbon's operatingperformance will remain relatively stable over the near tointermediate term despite S&P's belief that the company willincrease selling and marketing expenses under new management, thatthe company will maintain adequate liquidity, and that the companywill apply free cash flow to debt reduction. S&P expects leveragewill be in the 6.5x to 7x area and FFO to debt below 12% duringthe next 12 to 24 months.CASTLE-ROSE INC: Case Summary & 20 Largest Unsecured Creditors--------------------------------------------------------------Debtor: Castle-Rose, Inc. 870 Woodpecker Dr. Kelso, WA 98626Case No.: 14-45648Chapter 11 Petition Date: October 21, 2014Court: United States Bankruptcy Court Western District of Washington (Tacoma)Judge: Hon. Paul B. SnyderDebtor's Counsel: Richard S Ross, Esq. LAW OFFICE OF RICHARD S ROSS 1610 Columbia St Vancouver, WA 98660 Tel: 360-699-1400 Email: firstname.lastname@example.com Assets: $501,595Total Liabilities: $1.05 millionThe petition was signed by Andrew Masters, president.A list of the Debtor's 20 largest unsecured creditors is availablefor free at http://bankrupt.com/misc/wawb14-45648.pdfCLUB AT SHENANDOAH: Western Golf Okayed as Bookkeeper-----------------------------------------------------The Bankruptcy Court approved the consulting services agreementbetween The Club at Shenandoah Springs Village, Inc., and WesternGolf Properties, LLC.Western Golf, the Debtor's former on-site management company, willperform these services for $4,000 per month: -- provide monthly bookkeeping and financial reportingservices; -- prepare monthly operating reports; and -- meet monthly at Western Golf's corporate results and relatedfinancial issues. About The Club at Shenandoah Springs VillageThe Club at Shenandoah Springs Village, Inc., owns The Club AtShenandoah Springs Village, a golf and leisure resort in ThousandPalms, a desert region of central California. It filed forChapter 11 protection (Bankr. C.D. Cal. Case No. 12-36723) onDec. 3, 2012. The Debtor estimated both assets and liabilities ofbetween $10 million and $50 million. Judge Mark D. Houle presidesover the case. Daniel A. Lev, Esq., and Steven Worth, Esq., atSulmeyerKupetz, in Los Angeles, Calif., represent the Debtor ascounsel.COASTLINE INVESTMENT: Hearing on Dismissal Bid Moved to Nov. 4--------------------------------------------------------------The hearing on the motion for an order authorizing disbursement offunds to creditors and dismissal of bankruptcy cases of CoastlineInvestments, doing business as Hilltop Suites Hotel, andDiamond Waterfalls LLC, doing business as Diamond Bar Inn &Suites, has been rescheduled to Nov. 4, 2013 at 10:00 a.m.The motion will be presented to Bankruptcy Judge Richard M. Neiterin the Courtroom 1645, the U.S. Bankruptcy Court, at 255 E. TempleStreet, in Los Angeles, California.As reported in the Sept. 30, 2014 edition of The Troubled CompanyReporter, The Debtors sought dismissal of their Chapter 11 casesafter the Court authorized the sale of their properties and thattransaction closed. The Court authorized the sale of the Debtors'hotels for the aggregate purchase price $19.5 million on Aug. 7,2014, and the sale closed on Aug. 29, 2014. The Debtors submittedtheir memorandum on Sept. 12, 2014 for the dismissal of the cases. About Coastline InvestmentsCoastline Investments, doing business as Hilltop Suites Hotel, andDiamond Waterfalls LLC, doing business as Diamond Bar Inn &Suites, filed Chapter 11 bankruptcy petitions (Bankr. C.D. Cal.Case No. 14-13028 and 14-13030) in Los Angeles on Feb. 18, 2014.The cases are jointly administered under Lead Case No. 14-30328.Coastline Investments is the owner of a hotel located at the topof a prominent hill with sweeping views in Pamona, California.The Hilltop Hotel consists of 130 suites located on three acres ofhilltop property by Interstates 10 and 57, Cal-Poly TechUniversity, and the Los Angeles County fairgrounds, Fairplex. TheHilltop Hotel has three hotel floors along with two levels ofparking and features and outdoor pool, spa, exercise fitnesscenter, sauna, steam room and a full service restaurant, lounge,meeting spaces and a banquet ballroom to accommodate 300 guests.Diamond is the owner of a 161-room hotel located in Pomona,California. The Diamond Hotel is a full-service hotel, whichincludes a business center, meeting facilities, pool, spa, fitnesscenter, steam, sauna and offices.Debtor Coastline Investments disclosed $12,002,061 in asset and$8,164,554 in liabilities as of the Chapter 11 filing.The Debtors acquired both of the hotels through voluntary Chapter11 bankruptcy court 11 U.S.C. Sec. 363 sales in February 2012.The Hilltop Hotel was acquired from Shilo Inn, Pamona Hilltop, LLC(Case No. 11-26270) and the Diamond Hotel was acquired from ShiloInn, Diamond Bar LLC (Case No. 10-60884).The Debtors sought bankruptcy protection after the receiverappointed for the hotels scheduled a trustee sale for both hotels.The receiver was appointed at the behest of the investor groupwhich provided a secured loan of $2,500,000, which the Debtorsdefaulted. The Debtors also have loans from First General Bankeach in the amount of $5,250,000.Shin-Chung Liu is the 100% membership owner and managing member ofboth of the Debtors. The Debtors' affairs are managed by LibertyCapital Management Corporation.Judge Richard M. Neiter has been assigned to the cases.The Debtors are represented by David B. Golubchick, and J.P.Fritz, Esq., at Levene, Neale, Bender, Yoo & Brill L.L.P., in LosAngeles, California.No committee of unsecured creditors was appointed in the case.As reported by the Troubled Company Reporter on Sept. 9, 2014, theBankruptcy Court identified the $19.5 million bid of SCG AmericaGroup or its assignees as the successful bidder for the purchaseof both hotels of the Debtors.CRUNCHIES FOOD: $250,000 DIP Financing from Delaski Approved------------------------------------------------------------The Bankruptcy Court authorized Crunchies Food Company, LLC, toincur postpetition additional $250,000 in financing from theDonald Delaski Revocable Trust dated Dec. 14, 2000.Delaski, the postpetition lender under the original financingorder, advanced $80,000 to fund the Debtor's operations. TheDebtor needs to incur postpetition debt in order to maximize thevalue of its estate.The Debtor is unable to obtain unsecured credit on terms morefavorable than those offered by postpetition lender.The terms of postpetition debt include, among other things: i) The maximum principal amount of postpetition debtoutstanding will not at any time exceed the sum of $330,000;provided however, as set forth in the loan and security agreement,the sum of $80,000 will be paid by postpetition lender directly toDelaski in satisfaction of the amounts loaned by Delaski to theDebtor postpetition, and, therefore, the maximum amount of newfunds available to the Debtor on the terms and conditions of theorder is $250,000; ii) All amounts outstanding under the DIP Facility will bearinterest at 6% per annum compounded annually, payable at thematurity date, with default interest at 12%. iii) The postpetition debt will mature and be due and payable infull by Debtor on Oct. 24, 2014, subject to extension at thepostpetition lender's sole and absolute discretion;As adequate protection from any diminution in value of thelender's collateral, the Debtor will grant the lender primingliens and superpriority administrative expense claim status. About Crunchies FoodCrunchies filed a Chapter 11 bankruptcy petition (Bankr. C.D. Cal.Case No. 14-bk-11776) in Santa Barbara, California, on Aug. 15,2014. The case is assigned to Judge Peter Carroll.The Debtor has tapped David L. Neale, Esq., at Levene Neale BenderRankin & Brill LLP, in Los Angeles, serves as counsel. For itslegal services, the firm has agreed to accept $50,000.The U.S. Trustee for Region 16 appointed four creditors ofthe Debtor to serve on the official committee of unsecuredcreditors.CRUNCHIES FOOD: Cash Collateral Access Expires on Oct. 24---------------------------------------------------------Bankruptcy Judge Peter H. Carroll in an order Oct. 17 authorizeddebtor Crunchies Food Company, LLC, to use cash collateral of (a)the Chung Family Trust; (b) the Provident Trust Group, LLC; (c)the Delaski Revocable Trust dated Dec. 14, 2000; and (d) thesuccessor and assigns of the foregoing, until Oct. 24.The stipulation among the parties provides that, among otherthings: a) The Debtor may deviate from the line items in the budget bynot more than 10% on a line item basis and not more than 10% on anaggregate basis; b) To the extent, if any, that the Debtor uses the proceeds ofits postpetition loan for a line item in the budget, that lineitem will be reduced such that the combined amount of the Debtor'suse of cash collateral and postpetition financing will not exceedsuch line item; c) The Debtor's authority to use cash collateral is conditionedupon: (i) the Debtor's retention of a chief restructuring officer; (ii) the Debtor's deposit of all cash collateral in asegregated account under the exclusive control of its CRO; and (iii) all expenditures of cash collateral being approved by theDebtor's CRO, subject to the budget.The Debtor said it has no ability to continue to operate itsbusiness and maintain and preserve the going-concern value of itsbusiness unless the Debtor has immediate access to and use of itscash to pay the Debtor's ordinary operating expenses.In December 2013, the Debtor received a loan for $1.5 million fromSeung Chung, as Trustee of the Chung Family Trust, and then anadditional $500,000 in February 2014, which loan is allegedlysecured by all of the Debtor's assets. The Debtor also receivedtwo loans in the amounts of $300,000 and $500,000 in 2010 and athird loan in the amount of $4.2 million in October 2011 for atotal loan amount of $5 million from the Donald Delaski Revocabletrust, which loan is allegedly secured by all of the Debtor'sassets. About Crunchies FoodCrunchies filed a Chapter 11 bankruptcy petition (Bankr. C.D. Cal.Case No. 14-bk-11776) in Santa Barbara, California, on Aug. 15,2014. The case is assigned to Judge Peter Carroll.The Debtor has tapped David L. Neale, Esq., at Levene Neale BenderRankin & Brill LLP, in Los Angeles, serves as counsel. For itslegal services, the firm has agreed to accept $50,000.The U.S. Trustee for Region 16 appointed four creditors of theDebtor to serve on the official committee of unsecured creditors.D.A.B. GROUP: Defends Hiring of Counsel and Real Estate Broker--------------------------------------------------------------D.A.B. Group LLC responded to the objections of Orchard Hotel,LLC, lender, to the retention of Goldberg Weprin Finbkel GoldstainLLP as counsel, and Massel Knakal Realty Services as real estatebroker.The Debtor asserts that the lender has a clear litigation agendain objecting to the retentions of GWFG and Massey Knakal, assumingthat potential conflicts could arise. According to the Debtor,the objections are logged as rhetoric and short in substance andmust be overruled.As reported in the Troubled Company Reporter on Sept. 4, 2014, theDebtor has tapped Goldberg Weprin to serve as counsel at thesehourly rates: Partner $495 Associates $250-$425 Paralegal $90-$120The Debtor has arranged for the proposed retention of MasseyKnakal to act as the exclusive real estate broker, tosimultaneously market both the DAB Property located at 139-141Orchard Street, New York, NY (Block 415, Lots 66 and 67), andlease the Rivington Property located at Block 415, Lots 61 and 62,owned by the Debtor's affiliate, 77-70 Rivington Street RealtyLLC. The dual offering will permit the emergence of a possiblesingle purchaser/lessee for both the DAB Property and theRivington Property or for the sale of the DAB Property separately. About DAB GroupD.A.B. Group LLC, owner of a stalled 16-story Allen Street Hotelproject in Orchard Street, New York, sought Chapter 11 protection(Bankr. S.D.N.Y. Case No. 14-12057) in Manhattan on July 14, 2014,to pursue a prompt sale of the property. The case is assigned toJudge Shelley C. Chapman.The property has been in the hands of a receiver since July 18,2011. Simon J.K. Miller, of Blank Rome LLP, serves as receiver.J. Ted Donovan, Esq., at Goldberg Weprin Finkel Goldstein LLP, inNew York, serves as counsel to the Debtor.DAB Group said in a court filing that its property is continguousto the commercial property owned by its affiliate, 77-79 RivingtonStreet Realty LLC (Bankr. S.D.N.Y. Case No. 14-10339).Accordingly, DAB's Chapter 11 case is being filed as a relatedproceeding.The Debtor is required to file its Chapter 11 plan and disclosurestatement by Nov. 12, 2014.D.A.B. GROUP: Reorganization Plan Mulls Future Sale---------------------------------------------------D.A.B. Group LLC submitted a Plan of Reorganization thatcontemplates a future sale of the property at 139-141 OrchardStreet, New York City.The Plan fundamentally serves as the mechanism for distributingthe sale proceeds to the holders of allowed claims against theDebtor with a transfer tax exemption. Also, in conjunction withthe confirmation process, the Debtor intends to pursue a formaladversary proceeding or objection to the mortgage claim of OrchardHotel LLC, challenging Orchard's entitlement to interest, defaultinterest, and other costs and legal fees after March 1, 2011,based upon, inter alia, the equitable defenses outlined in theDebtor's opposition to Orchard's pre-bankruptcy motion for summaryjudgment.Under the Plan, among other things, each holder of an AllowedUnsecured General Claim will receive, in full and finalsatisfaction of such claims, a pro rata share of the net excessSale proceeds and recoveries from causes of action, if any, up to100%, after the prior payment of Administrative Expense Claims,and allowed Class 1 and Class 2 claims in full.In the event the allowed claims of all senior and prioritycreditors are paid in full and there is sufficient cash on hand,Class 3 General Unsecured Claims will be entitled to postpetitioninterest at the Federal Judgment Rate, unless such holder consentsto other treatment.The Plan will be implemented by the sale of the property and theestablishment of the confirmation fund and related reserves on theclosing date.A copy of the Disclosure Statement is available for free at: http://bankrupt.com/misc/DABGroup_43_DS.pdf About DAB GroupD.A.B. Group LLC, owner of a stalled 16-story Allen Street Hotelproject in Orchard Street, New York, sought Chapter 11 protection(Bankr. S.D.N.Y. Case No. 14-12057) in Manhattan on July 14, 2014,to pursue a prompt sale of the property. The case is assigned toJudge Shelley C. Chapman.The property has been in the hands of a receiver since July 18,2011. Simon J.K. Miller, of Blank Rome LLP, serves as receiver.J. Ted Donovan, Esq., at Goldberg Weprin Finkel Goldstein LLP, inNew York, serves as counsel to the Debtor.DAB Group said in a court filing that its property is continguousto the commercial property owned by its affiliate, 77-79 RivingtonStreet Realty LLC (Bankr. S.D.N.Y. Case No. 14-10339).Accordingly, DAB's Chapter 11 case is being filed as a relatedproceeding.The Debtor is required to file its Chapter 11 plan and disclosurestatement by Nov. 12, 2014.DARDEN RESTAURANTS: Fitch Rates Credit Protection in BB Territory-----------------------------------------------------------------Recent managerial changes at Darden Restaurants have sent thecompany's credit default swap (CDS) spreads to levels not seen inover a year, according to Fitch Solutions in its latest CDS casestudy snapshot.Five-year CDS on Darden have widened 47% over the past month.After pricing historically at 'BB+' levels, credit protection onDarden's debt is now pricing a notch lower in 'BB' territory.Increased market scrutiny for Darden is likely attributed at leastpartly to senior management turnover, according to Director DianaAllmendinger. 'Darden's replacement of its CEO and entire Boardof Directors, driven by the company's shareholders, seems to bethe primary catalyst behind the recent CDS widening,' said Ms.Allmendinger.In terms of credit quality, the verdict is still out given thetendency for activists to increase leverage and seek short-termgains over long-term value.Fitch Solutions case studies build on data from its CDS PricingService and proprietary quantitative models, including CDS ImpliedRatings. These credit risk indicators are designed to providereal-time, market-based views of creditworthiness. As such, theycan and often do reflect more short term market views on factorssuch as currencies, seasonal market effects and short-termtechnical influences. This is in contrast to Fitch Ratings' IssuerDefault Ratings (IDRs), which are based on forward-lookingfundamental credit analysis over an extended period of time.DAYCO LLC: S&P Affirms 'B+' CCR & Revises Outlook to Stable-----------------------------------------------------------Standard & Poor's Ratings Services said it affirmed its 'B+'corporate credit rating on Troy, M.I.-based automotive supplierDayco LLC and revised its outlook on the company to stable fromnegative.S&P also assigned its 'B+' issue-level and '4' recovery rating tothe proposed $70 million senior secured add-on term loan, to beissued by Dayco Products LLC, a subsidiary of Dayco LLC. The '4'recovery rating indicates S&P's expectation for average recovery(30%-50%) in the event of a payment default."Although the proposed debt-financed dividend will be the secondin one year, we revised our outlook to stable from negative andaffirmed our 'B+' rating because of improving operating trends forDayco," said Standard & Poor's credit analyst Robyn Shapiro."Improving demand in the North American and European automotiveaftermarket, along with new program launches and sales growth inSouth America and China, have sparked sales and EBITDA margingrowth."The company has also successfully completed bolt-on acquisitionsand continues to make progress on its cost-savings initiatives.The improvement in operating performance offsets the additionaldebt to fund the proposed $125 million dividend to owners,allowing the company to keep adjusted debt to EBITDA below 5x.The outlook on Dayco is stable, reflecting the company's improvedEBITDA margins and S&P's expectation of debt to EBITDA remainingbelow 5x, despite the current proposed debt-financed dividend.S&P could consider a downgrade in the coming year if it believesDayco's debt leverage will remain higher than 5x on a sustainedbasis or if free operating cash flow generation is negative forseveral quarters -- excluding temporary fluctuations caused by anychange in accounts receivables sold through factoring programs.Although S&P don't assume this in its base-case scenario, Daycocould begin using cash -- even if not at the same levels thatcontributed to Mark IV LLC's bankruptcy filing -- if autoproduction levels drop suddenly (as they did in late 2008 andearly 2009) amid the economic uncertainties in the U.S. and Europeand a slower-than-anticipated ramp-up in the company's newfacilities in China and Poland.S&P could also lower the rating if it forecasts a decline inheadroom under the company's net leverage covenant in the creditagreement to less than 15%.Although unlikely in the next year, S&P could raise the rating ifit comes to believe that ownership interest by private equityinvestors would decline over time, reducing the likelihood ofadditional debt-financed distributions. S&P would also look forDayco to successfully maintain or improve its EBITDA margins,generate free operating cash flow to debt greater than 10%, andmaintain adjusted debt to EBITDA to less than 4x. S&P would alsolook for an "adequate" liquidity assessment, with headroom underthe financial maintenance covenant in the credit agreement.DAYCO LLC: Moody's Affirms 'B2' Corporate Family Rating-----------------------------------------------------Moody's Investors Service affirmed Dayco LLC's B2 Corporate FamilyRating and B2-PD Probability of Default Rating. In a relatedaction, Moody's affirmed the B1 rating on the upsized $445 million(upsized $70 million from $375 million) guaranteed senior securedterm loan B issued by Dayco Products, LLC. Dayco Products, LLC isDayco's U.S. primary operating subsidiary. The rating outlook isstable.Proceeds from the add-on of $70 million to the existing seniorsecured term loan, along with a $15 million draw on the company'sEuropean ABL revolver and cash on hand, will be used to fund a$125 million dividend to shareholders.The following rating actions were taken:Dayco LLC Corporate Family Rating, affirmed at B2; Probability of Default, affirmed at B2-PD;Dayco Products, LLC $445 million (upsized $70 million) guaranteed senior secured term loan due 2019, affirmed B1 (LGD3)Ratings RationaleDayco's B2 Corporate Family Rating reflects the incrementalleverage and interest cost associated with the additional debtburden used to fund the shareholder distribution transaction. As aresult of the transaction, Dayco's Moody's adjusted Debt/EBITDA isexpected to increase to 4.4x on a pro forma basis for the LTMperiod ending May 31, 2014. This dividend follows a $108 milliondebt financed dividend taken in December 2013 and results infunded debt levels now over $500 million on a pro-forma basis.Dayco's ratings continue to benefit from the company's position asa leading supplier of belts, tensioners and pulleys in theautomotive and industrial markets, and balanced revenue profilethrough exposure to the original equipment market and theaftermarket. Dayco has a longstanding history in the automotiveindustry and through the disposition of non-core businesses overthe past several years is now focused on automotive and industrialpower transmission products. Moody's expects the company's creditmetrics to benefit from the continuing positive demand trends inthe North American automotive market and stabilizing macroeconomicconditions in Europe.The stable outlook is supported by the expectation of continuedpositive automobile demand trends in the company's regionalmarkets and the company's strong cash balances.Future events that have the potential to drive Dayco's rating oroutlook lower include deteriorating conditions in globalautomotive and commercial vehicle production which are not offsetby successful cost management. EBITA/Interest below 1.5x orDebt/EBITDA approaching 6.5x, or a deteriorating liquidity profilecould result in a downgrade of the rating.Future events that have the potential to drive Dayco's outlook orratings higher include: EBITA margins approaching 10% leading toconsistent free cash flow generation and reduced leverage suchthat Debt/EBITDA is sustained below 3.5x, and EBITA/Interestcoverage sustained above 2.5x.The principal methodology used in these ratings was GlobalAutomotive Supplier Industry published in May 2013. Othermethodologies used include Loss Given Default for Speculative-Grade Non-Financial Companies in the U.S., Canada and EMEApublished in June 2009.Dayco, LLC (formerly known as Mark IV, LLC), headquartered inTroy, MI, is a global manufacturer of engine technology solutionstargeted at primary and accessory drive systems for the worldwideaftermarket, automotive, and industrial markets. Revenue for thelast twelve month period ended May 2014 was approximately $1billion.DOMARK INT'L: Posts $658K Net Loss in Aug. 31 Quarter-----------------------------------------------------DoMark International, Inc., filed with the U.S. Securities andExchange Commission its quarterly report on Form 10-Q, disclosinga net loss of $658,976 on $nil of sales for the three months endedAug. 31, 2014, compared with a net loss of $763,610 on $nil ofsales for the same period in 2013.The Company's balance sheet at Aug. 31, 2014, showed $1.45 millionin total assets, $2.6 million in total liabilities, and astockholders' deficit of $1.15 million.The Company has inadequate working capital to maintain or developits operations, and is dependent upon funds from private investorsand the support of certain stockholders which raises substantialdoubt about the ability of the Company to continue as a goingconcern.A copy of the Form 10-Q is available at: http://is.gd/Hi0U6P About Domark InternationalBased in Lake Mary, Florida, DoMark International, Inc., wasincorporated under the laws of the State of Nevada on March 30,2006. The Company was formed to engage in the acquisition andrefinishing of aged furniture using exotic materials and thenreselling it through interior decorators, high-end consignmentshops and online sales. The Company abandoned its originalbusiness of exotic furniture sales in May of 2008 and pursued theacquisition of entities to best bring value to the company and itsshareholders.EFUSION SERVICES: Court Dismisses Chapter 11 Bankruptcy Case------------------------------------------------------------The Hon. Michael E. Romero of the U.S. Bankruptcy Court for theDistrict of Colorado dismissed the Chapter 11 bankruptcy case ofeFusion Services LLC.As reported in the Troubled Company Reporter on Feb. 17, 2014,John Dorsey, Thomas McCann, and Anthony Maley, creditors ofEfusion Services LLC, asked the U.S. Bankruptcy Court for theDistrict of Colorado to dismiss the Debtor's Chapter 11 casebecause the Debtor has no debts to reorganize and no business torehabilitate.According to the creditors, the Debtor is a holding company withno cash, no income, no ability to generate income, nine creditors,no money to pay its counsel only one month into this case. Thiscase was filed in bad faith for the benefit of the Debtor'smajority owner, eFusion Management and its principal Paul Lufkinso that they could attempt to salvage a deal they failed to closefor almost a year.Daniel J. Garfield, Esq., at Foster Graham Milstein & CalisherLLP, counsel of the creditors, said the creditors and the Debtoragreed in December 2012 that the Debtor would purchase companiesfor $35 million and pay Messrs. Dorsey and McCann $27 million byFebruary 2013. Despite multiple extensions of the paymentdeadline, the Debtor failed to raise any funds, and Messrs. Dorseyand McCann exercised their right to terminate the purchase, saysMr. Garfield.Mr. Garfield noted that the Debtor has claimed no terminationoccurred and asserted that Messrs. Dorsey and McCann were nottruthful concerning the finances of the companies. This dispute,above all other facts, explains the Debtor's bad faith petition,he added. About eFusion Services LLCeFusion Services LLC filed a Chapter 11 bankruptcy petition(Bankr. D. Colo. Case No. 13-30740) on Dec. 20, 2013. Thepetition was signed by Paul Lufkin, Manager of eFusion ManagementLLC. The Debtor disclosed total assets of $39 million and totalliabilities of $32.6 million, according to amended schedules filedwith the Court. The Hon. Michael E. Romero presides over thecase. The Debtor employed Powell Theune PC as its counsel.Richard A. Weiland, the U.S. Trustee for Region 19, was notable to form an Official Committee of Unsecured Creditors in thebankruptcy case of eFusion Services LLC because there were toofew unsecured creditors who are willing to serve on the Committee.ENERGY FUTURE: Wants to Tap Balch & Bingham as Special Counsel--------------------------------------------------------------Energy Future Holdings Corp., formerly known as TXU Corp., seeksto employ Balch & Bingham LLP as its special counsel.As special counsel to the Debtor, the firm is expected to providethese services: (a) Litigate against entities, including government and non- governmental entities, who seek civil penalties or injunctive relief related to the Debtors' coal-fueled and other generation units; (b) Provide environmental and regulatory compliance counseling, permitting, and other guidance; and (c) Represent the Debtors in administrative proceedings on environmental matters.P. Stephen Gidiere III, a partner at Balch & Bingham LLP, assuresthe Court that his Firm is a "disinterested person" as the term isdefined in Section 101(14) of the Bankruptcy Code.The Debtors paid $500,000 to Balch as a classic retainer beforethe Petition Date. Statement Regarding U.S. Trustee GuidelinesIn a declaration filed with the Court, Mr. Gidiere related thatthe Firm intends to make a reasonable effort to comply with theU.S. Trustee's requests for information and additional disclosuresas set forth in the Guidelines for Reviewing Applications forCompensation and Reimbursement of Expenses Filed Under 11 U.S.C.Sec. 330 by Attorneys in Larger Chapter 11 Cases Effective As ofNovember 1, 2013, both in connection with this application and theinterim and final fee applications to be filed by Balch in thesechapter 11 cases. Attorney Statement Pursuant to Revised U.S. Trustee GuidelinesThe Firm has responded to the request for additional informationset for in Paragraph D.1 of the Revised U.S. Trustee Guidelines: a. Question: Did Balch agree to any variations from, or alternatives to, Balch's standard billing arrangements for this engagement? Answer: No. Balch and the Debtors have not agreed to any variations from, or alternatives to, Balch's standard billing arrangements for this engagement. b. Question: Do any of the professionals in this engagement vary their rate based on the geographic location of the Debtors' chapter 11 cases? Answer: No. The hourly rates used by Balch in representing the Debtors are consistent with the rates that Balch charges other comparable chapter 11 clients, regardless of the location of the chapter 11 case.c. Question: If Balch has represented the Debtors in the 12 months prepetition, disclose Balch's billing rates and material financial terms for the prepetition engagement, including any adjustments during the 12 months prepetition. If Balch's billing rates and material financial terms have changed postpetition, explain the difference and the reasons for the difference. Answer: Balch's current hourly rates for services rendered on behalf of the Debtors range as follows: Billing Category Range ---------------- ----- Partners $340 to $655 Associates $230 to $310 Staff Attorneys $230 Paraprofessionals $175 to $195 Balch represented the Debtors during the twelve-month period before the Petition Date, using the hourly rates listed above. d. Question: Have the Debtors approved Balch's budget and staffing plan, and, if so, for what budget period? Answer: For the Debtors' environmental matters on which Balch advises the Debtors, the Debtors and Balch routinely discuss the scope of Balch's work and the requisite staffing and budgetary needs. As a result, Balch regularly reevaluates its budgetary and staffing needs in connection with its work for the Debtors. To that end, the Debtors and Balch are finalizing a formal budget and staffing plan for the period from Oct. 1, 2014 to December 31, 2014, which Balch intends to submit with its first interim fee application.Mr. Gidiere added that Balch's hourly rates and billing policiesare based on market conditions of firms of a size, location, andpractice comparable to Balch's. Further, Balch's hourly billingrates are comparable to the rates Balch charges other comparablechapter 11 clients, regardless of location of the debtors.Consistent with past practice and its staffing policies, Balchexpects that a number of attorneys will provide services to theDebtors from time to time.Balch's policy is to charge each client for all expenses anddisbursements incurred in connection with the client's case,including, among other things, word processing, telephoneand telecopier usage, photocopying charges, travel expenses,expenses for "working meals," as well as non-ordinary overheadexpenses such as secretarial overtime. Balch believes thatallocating these expenses to the client that incurs them is moreequitable than distributing such expenses among all clientsthrough higher hourly billing rates. About Energy FutureEnergy Future Holdings Corp., formerly known as TXU Corp., is aprivately held diversified energy holding company with a portfolioof competitive and regulated energy businesses in Texas. Oncor,an 80 percent-owned entity within the EFH group, is the largestregulated transmission and distribution utility in Texas.The Company delivers electricity to roughly three million deliverypoints in and around Dallas-Fort Worth. EFH Corp. was created inOctober 2007 in a $45 billion leverage buyout of Texas powercompany TXU in a deal led by private-equity companies KohlbergKravis Roberts & Co. and TPG Inc.On April 29, 2014, Energy Future Holdings and 70 affiliatedcompanies sought Chapter 11 bankruptcy protection (Bankr. D. Del.Lead Case No. 14-10979) after reaching a deal with some keyfinancial stakeholders to keep its businesses operating whilereducing its roughly $40 billion in debt.The Debtors' cases have been assigned to Judge Christopher S.Sontchi (CSS). The Debtors are seeking to have their casesjointly administered for procedural purposes.As of Dec. 31, 2013, EFH Corp. reported total assets of $36.4billion in book value and total liabilities of $49.7 billion. TheDebtors have $42 billion of funded indebtedness.EFH's legal advisor for the Chapter 11 proceedings is Kirkland &Ellis LLP, its financial advisor is Evercore Partners and itsrestructuring advisor is Alvarez & Marsal. The TCEH first lienlenders supporting the restructuring agreement are represented byPaul, Weiss, Rifkind, Wharton & Garrison, LLP as legal advisor,and Millstein & Co., LLC, as financial advisor.The EFIH unsecured creditors supporting the restructuringagreement are represented by Akin Gump Strauss Hauer & Feld LLP,as legal advisor, and Centerview Partners, as financial advisor.The EFH equity holders supporting the restructuring agreement arerepresented by Wachtell, Lipton, Rosen & Katz, as legal advisor,and Blackstone Advisory Partners LP, as financial advisor. EpiqSystems is the claims agent.Wilmington Savings Fund Society, FSB, the successor trustee forthe second-lien noteholders owed about $1.6 billion, isrepresented by Ashby & Geddes, P.A.'s William P. Bowden, Esq., andGregory A. Taylor, Esq., and Brown Rudnick LLP's Edward S.Weisfelner, Esq., Jeffrey L. Jonas, Esq., Andrew P. Strehle, Esq.,Jeremy B. Coffey, Esq., and Howard L. Siegel, Esq.An Official Committee of Unsecured Creditors has been appointed inthe case. The Committee represents the interests of the unsecuredcreditors of ONLY of Energy Future Competitive Holdings CompanyLLC; EFCH's direct subsidiary, Texas Competitive Electric HoldingsCompany LLC; and EFH Corporate Services Company, and of no otherdebtors. The Committee has selected Morrison & Foerster LLP andPolsinelli PC for representation in this high-profile energyrestructuring. The lawyers working on the case are James M. Peck,Esq., Brett H. Miller, Esq., and Lorenzo Marinuzzi, Esq., atMorrison & Foerster LLP; and Christopher A. Ward, Esq., Justin K.Edelson, Esq., Shanti M. Katona, Esq., and Edward Fox, Esq., atPolsinelli PC.FL 6801 SPIRITS: Z Capital Jilted by Canyon Ranch Hotel-------------------------------------------------------Bill Rochelle and Sherri Toub, bankruptcy columnists for BloombergNews, reported that Canyon Ranch Hotel & Spa in Miami Beach, whichis indirectly owned by Lehman Brothers Holdings Inc., said that itwould propose a Chapter 11 plan with 6801 Collins Hotel LLC as thebuyer of its assets although Z Capital Partners LLC has beenannounced the winner at an auction.According to the report, Z Capital told U.S. Bankruptcy JudgeShelley C. Chapman in Manhattan that she must enforce the auctionresults and bar a sale to 6801 Collins under a plan or otherwise. About FL 6801 SpiritsFL 6801 Spirits LLC, a wholly owned subsidiary of Lehman BrothersHoldings Inc. and three of its wholly owned subsidiaries filedvoluntary Chapter 11 petitions, seeking bankruptcy protection fortheir condominium hotel property in Miami Beach. The affiliatesare FL 6801 Collins North LLC, FL 6801 Collins Central LLC, and FL6801 Collins South LLC.FL Spirits' Canyon Ranch Living Hotel and Spa is a luxury full-service, ocean front condominium hotel located at the site of theold Carillon Hotel in Miami Beach, Florida. The current operatorof the hotel, Canyon Ranch Living, is not a debtor, and operationsat the property are expected to continue without interruption.FL Spirits and the three affiliates companies have sought jointadministration, with pleadings to be maintained at FL 6801's casedocket (Bankr. S.D.N.Y. Lead Case No. 14-11691).FL Spirits has tapped Togut, Segal & Segal LLP as generalbankruptcy counsel, Shutts & Bowen LLP as special real estatecounsel, CBRE, Inc., as real estate broker, and Prime Clerk asclaims and notice agent.Lehman Brothers filed for Chapter 11 bankruptcy (Bankr. S.D.N.Y.Case No. 08-13555) on Sept. 15, 2008. Lehman's bankruptcypetition disclosed US$639 billion in assets and US$613 billion indebts, effectively making the firm's bankruptcy filing thelargest in U.S. history. Lehman's Chapter 11 plan becameeffective on March 6, 2012.FRIENDLY ICE CREAM: Friendly's Branch at Harrisburg, PA Closes--------------------------------------------------------------Sue Gleiter at Pennlive.com reports that the Friendly's restaurantat 4010 Jonestown Road, in Harrisburg, Pennsylvania, has closed.Regan Communications Group, which handles Friendly's publicrelations, said in a statement that the restaurant closed on Oct.20 in anticipation of the expiration of its lease. The restaurantis one of Friendly's restaurants owned by AKZ Delaware ValleyHospitality Inc. AKZ owns seven other Friendly's restaurants inPennsylvania, Pennlive.com says, citing Regan Communications.A report by Gary Puleo, which was posted at Pottsmerc.com in July2012, stated that AKZ Delaware purchased 13 Friendly's restaurantsin the Philadelphia-Harrisburg region.According to Pennlive.com, Friendly Ice Cream LLC closed down 63restaurants in 2011 and in recent weeks, these Friendly's outletswere also shut down: (i) South Royalton, Vermont; (ii) Darien,Connecticut; and (iii) Yorktown, New York. About Friendly Ice CreamFriendly Ice Cream Corp. -- http://www.friendlys.com/-- the owner and franchiser of 490 full-service, family-oriented restaurantsand provider of ice cream products in the Eastern United States,filed for Chapter 11 reorganization together with four affiliates(Bankr. D. Del. Lead Case No. 11-13167) on Oct. 5, 2011, to sellthe business mostly in exchange for debt to Sundae Group HoldingsII LLC, a unit of Sun Capital Partners Inc. The existing ownerand holder of the Debtors' second-lien debt are also affiliates ofSun Capital. Friendly's, based in Wilbraham, Massachusetts, alsoannounced the closing of 63 stores, leaving about 424 operating.Franchise operators have about 230 of the locations.Judge Kevin Gross oversees the case. James A. Stempel, Esq., RossM. Kwasteniet, Esq., and Jeffrey D. Pawlitz, Esq., at Kirkland &Ellis LLP; and Laura Davis Jones, Esq., Timothy P. Cairns, Esq.,and Kathleen P. Makowski, Esq., at Pachulski Stang Ziehl & JonesLLP, serve as the Debtors' bankruptcy counsel. Zolfo Cooperserves as the Debtors' financial advisors.In its petition, Friendly Ice Cream Corp. estimated $100 millionto $500 million in assets and debts. The petitions were signed bySteven C. Sanchioni, executive vice president, chief financialofficer, treasurer, and assistant secretary.Friendly's is one of two companies under Sun Capital's portfolioto file for bankruptcy in a span of two days. Mexican-food chainReal Mex, which operates restaurants such as Chevys, filed inDelaware bankruptcy court on Oct. 3, 2011.On Oct. 12, 2011, the U.S. Trustee appointed the Committee. TheCommittee currently consists of seven members. The Committeeselected Akin Gump Straus Hauer & Feld LLP and Blank Rome LLP toserve as co-counsel to the Committee, and FTI Consulting to serveas the Committee's financial advisor.A Sun Capital affiliate, Sundae Group Holdings, offered to payabout $120 million for the business. The price includes enoughcash to pay first-lien debt and an amount of cash for unsecuredcreditors to be negotiated with the official creditors' committee.Aside from cash, Sun Capital made a credit bid from the $267.7million in second-lien, pay-in-kind notes. On Dec. 29, 2011, theBankruptcy Court entered an order approving the sale to SundaeGroup. The sale closed on Jan. 9, 2012. Friendly Ice Cream Corp.was renamed to Amicus Wind Down Corporation following the sale.Friendly's was one of two companies under Sun Capital's portfolioto file for bankruptcy in a span of two days. Mexican-food chainReal Mex, which operates restaurants such as Chevys, filed inDelaware bankruptcy court on Oct. 3, 2011.In early June 2012, the Debtor won approval of its liquidatingChapter 11 plan where unsecured creditors were told to expect arecovery between 1.6% and 3.2%. The plan is partly based on asettlement where existing owner Sun Capital receives releases ofclaims in return for reducing its $279 million second-lien claimto $50 million and subordinating the remaining secured claim.GELTECH SOLUTIONS: Issues 598,002 Common Shares COO---------------------------------------------------GelTech Solutions, Inc., disclosed with the U.S. Securities andExchange Commission that it received $150,000 from Michael Reger,the Company's chief operating officer and principal shareholder,in exchange for 598,002 shares of the Company's common stock and299,001 two-year warrants exercisable at $2.00 per share.The shares of common stock and warrants were issued withoutregistration under the Securities Act of 1933 in reliance upon theexemption provided in Section 4(a)(2) and Rule 506(b) thereunder. About GelTechJupiter, Fla.-based GelTech Solutions. Inc., is a Delawarecorporation organized in 2006. The Company markets four products:(1) FireIce(R), a water soluble fire retardant used to protectfirefighters, structures and wildlands; (2) Soil2O(R) 'DustControl', its new application which is used for dust mitigation inthe aggregate, road construction, mining, as well as, otherindustries that deal with daily dust control issues; (3)Soil2O(R), a product which reduces the use of water and isprimarily marketed to golf courses, commercial landscapers and theagriculture market; and (4) FireIce(R) Home Defense Unit, a systemfor applying FireIce(R) to structures to protect them fromwildfires.Salberg & Company, P.A., expressed substantial doubt about theCompany's ability to continue as a going concern, citing that theCompany has net cash used in operating activities in 2014 of $5.13million and has an accumulated deficit of $35.13 million at June30, 2014.The Company reported a net loss of $7.11 million for the fiscalyear ended June 30, 2014, following a net loss of $5.22 millionfor the fiscal year ended June 30, 2013.The Company's balance sheet at June 30, 2014, showed $1.24 millionin total assets, $3.14 million in total liabilities and astockholders' deficit of $1.9 million.GENERAL MOTORS: Del High Court Interprets UCC Termination Rules---------------------------------------------------------------The Delaware Supreme Court held that for a termination statementto become effective under Sec. 9-509 of Delaware's version of theUniform Commercial Code and thus to have the effect specified inSec. 9-513 of the Delaware UCC, it is enough that the securedparty authorizes the filing to be made, which is all that Sec.9-510 requires. The Delaware UCC contains no requirement that asecured party that authorizes a filing subjectively intends orotherwise understands the effect of the plain terms of its ownfiling.The U.S. Court of Appeals for the Second Circuit certified to theDelaware Supreme Court this question of law important to a disputepending before it: "Under UCC Article 9, as adopted into Delaware law by Del.Code Ann. tit. 6, art. 9, for a UCC-3 termination statement toeffectively extinguish the perfected nature of a UCC-1 financingstatement, is it enough that the secured lender review andknowingly approve for filing a UCC-3 purporting to extinguish theperfected security interest, or must the secured lender intend toterminate the particular security interest that is listed on theUCC-3?"The dispute pending before the Second Circuit turns on the effectof a UCC termination statement -- a "UCC-3 termination statement"-- filed with the Delaware Secretary of State on behalf of GeneralMotors Corporation. That termination statement, by its plainterms, purported to extinguish a security interest on the assetsof General Motors -- term loan security interest -- held by asyndicate of lenders, including JPMorgan Chase Bank, N.A.But neither JPMorgan nor General Motors subjectively intended toterminate the term loan security interest when General Motorsfiled the termination statement. General Motors' counsel for aseparate "synthetic lease" financing transaction, Mayer Brown LLP,had inadvertently included the term loan security interest on thetermination statement that it filed in the process of unwindingthe synthetic lease. According to JPMorgan, no one at GeneralMotors, Mayer Brown, or Simpson Thatcher Bartlett LLP (JPMorgan'scounsel for the synthetic lease transaction) noticed this error,even though individuals at each organization reviewed the filingstatement before the termination statement was filed on October30, 2008.It is assumed that JPMorgan itself reviewed the terminationstatement and knowingly approved its filing.After General Motors filed for reorganization under Chapter 11 ofthe Bankruptcy Code, JPMorgan informed the unofficial committee ofunsecured creditors -- Creditors Committee -- that a UCC-3termination statement relating to the term loan had beeninadvertently filed. On July 31, 2009, the Creditors Committeecommenced a proceeding against JPMorgan in the United StatesBankruptcy Court for the Southern District of New York, seeking,among other things, a determination that the filing of the UCC-3termination statement was effective to terminate the term loansecurity interest and thus render JPMorgan an unsecured creditoron par with the other General Motors unsecured creditors.JPMorgan contested that argument, asserting that it had notauthorized the termination statement releasing the term loansecurity interest, and that the statement was erroneously filedbecause no one at General Motors, JPMorgan, or the law firmsworking on the synthetic lease transaction recognized that theunrelated term loan security interest had been included on thestatement.On cross-motions for summary judgment, the Bankruptcy Court foundfor JPMorgan on various grounds, including that JPMorgan had notempowered Mayer Brown to act as its agent in releasing the termloan security interest in the sense that it had only authorizedMayer Brown to file an accurate termination statement thatreleased security interests properly related to the syntheticlease transaction. Because neither JPMorgan nor General Motorsintended the legal consequences of the UCC-3 terminationstatement, the Bankruptcy Court found that the UCC-3 filing wasnot authorized and therefore was not effective to terminate theterm loan security interest.The Creditors Committee appealed to the Second Circuit, arguing,among other things, that Mayer Brown was authorized as JPMorgan'sagent to file the UCC-3 termination statement. The CreditorsCommittee argued that the only issue is whether JPMorgan hadauthorized the filing of the UCC-3 termination statement. So longas JPMorgan had authorized the statement to be filed, thetermination of all identified security interests, including theterm loan security interest, would be effective.The Creditors Committee also contended that JPMorgan's argumentthat a party can authorize a filing and then later claim that ithad not authorized the filing because it failed to catch an errorin the statement is inconsistent with the plain language of Sec.9-513 of Delaware's UCC. That language states in pertinent partthat "upon the filing of a termination statement with the filingoffice, the financing statement to which the termination statementrelates ceases to be effective."By contrast, JPMorgan took the position that a party may authorizea specific document to be filed on its behalf, but that suchauthorization does not cause the termination statement to beeffective if errors in the statement resulted in the release of asecurity interest that the party did not subjectively intend torelease.The Second Circuit has indicated that it would be helpful to havean answer from the Delaware Supreme Court regarding this aspect ofthe parties' dispute. That answer may avoid any need for theSecond Circuit to address the parties' disagreement as to whetherMayer Brown was authorized to act as JPMorgan's agent to file theUCC-3 termination statement, or provide some useful clarity if theagency issue must be addressed.The case is, OFFICIAL COMMITTEE OF UNSECURED CREDITORS OF MOTORSLIQUIDATION COMPANY, Plaintiff-Appellant, v. JPMORGAN CHASE BANK,N.A., Individually and as Administrative Agent for various lendersparty to the Term Loan Agreement described herein, Defendant-Appellee, No. 325, 2014 (Del.). A copy of the Supreme Court'sOctober 17, 2014 decision is available at http://is.gd/Y9lUQZfrom Leagle.com. About Motors LiquidationGeneral Motors Corporation and three of its affiliates filed forChapter 11 protection (Bankr. S.D.N.Y. Lead Case No. 09-50026) onJune 1, 2009. The Honorable Robert E. Gerber presides over theChapter 11 cases. Harvey R. Miller, Esq., Stephen Karotkin,Esq., and Joseph H. Smolinsky, Esq., at Weil, Gotshal & MangesLLP, assist the Debtors in their restructuring efforts. Al Kochat AP Services, LLC, an affiliate of AlixPartners, LLP, serves asthe Chief Executive Officer for Motors Liquidation Company. GMis also represented by Jenner & Block LLP and Honigman MillerSchwartz and Cohn LLP as counsel. Cravath, Swaine, & Moore LLPis providing legal advice to the GM Board of Directors. GM'sfinancial advisors are Morgan Stanley, Evercore Partners and theBlackstone Group LLP. Garden City Group is the claims and noticeagent of the Debtors.The U.S. Trustee appointed an Official Committee of UnsecuredCreditors and a separate Official Committee of UnsecuredCreditors Holding Asbestos-Related Claims. Lawyers at KramerLevin Naftalis & Frankel LLP served as bankruptcy counsel to theCreditors Committee. Attorneys at Butzel Long served as counselon supplier contract matters. FTI Consulting Inc. served asfinancial advisors to the Creditors Committee. Elihu Inselbuch,Esq., at Caplin & Drysdale, Chartered, represented the AsbestosCommittee. Legal Analysis Systems, Inc., served as asbestosvaluation analyst.The Bankruptcy Court entered an order confirming the Debtors'Second Amended Joint Chapter 11 Plan on March 29, 2011. The Planwas declared effect on March 31.On Dec. 15, 2011, Motors Liquidation Company was dissolved. Onthe Dissolution Date, pursuant to the Plan and the MotorsLiquidation Company GUC Trust Agreement, dated March 30, 2011,between the parties thereto, the trust administrator and trustee-- GUC Trust Administrator -- of the Motors Liquidation CompanyGUC Trust, assumed responsibility for the affairs of and certainclaims against MLC and its debtor subsidiaries that were notconcluded prior to the Dissolution Date.GLOBAL GEOPHYSICAL: Can Proceed with Dec. 5 Auction---------------------------------------------------Bill Rochelle and Sherri Toub, bankruptcy columnists for BloombergNews, reported that U.S. Bankruptcy Judge Richard S. Schmidt inCorpus Christi, Texas, signed an order approving the proceduresgoverning the bidding and sale of Global Geophysical ServicesInc.'s assets and scheduling an auction for Dec. 5. According tothe report, competing bids are due Dec. 1.The $200 million in 10.5 percent senior unsecured notes due 2017last traded on Oct. 15 for 8.5 cents on the dollar, the Bloombergreport said, citing Trace, the bond-price reporting system of theFinancial Industry Regulatory Authority. About Global Geophysical, Autoseis et al.Global Geophysical Services Inc., a provider of seismic data forthe oil and gas drilling industry, sought bankruptcy protection,intending to reorganize on its own with additional capital orexplore a sale or other transaction.Based in Missouri City, Texas, Global Geophysical disclosed assetsof $468.7 million and liabilities totaling $407.3 million as ofSept. 30, 2013. Liabilities include $81.8 million on a securedterm loan owing to TPG Specialty Lending Inc. and TennenbaumCapital Partners LLC. TPG is the lenders' agent. Global alsoowes $250 million on two issues of 10.5 percent senior unsecurednotes, with Bank of New York Mellon Trust Co. as indenturetrustee.Global Geophysical and five affiliates, including Autoseis, Inc.(lead debtor), filed Chapter 11 petitions in Corpus Christi, Texas(Bankr. S.D. Tex. Lead Case No. 14-20130) on March 25, 2014.The Debtors are represented by C. Luckey McDowell, Esq., OmarAlaniz, Esq., and Ian E. Roberts, Esq., at Baker Botts, LLP, inDallas, Texas; and Shelby A. Jordan, Esq., and Nathanial PeterHolzer, Esq., at Jordan, Hyden, Womble, Culbreth, & Holzer, PC inCorpus Christi, Texas. Alvarez & Marsal serves as the Debtors'restructuring advisors, Fox Rothschild Inc. as financial advisor,and Prime Clerk as claims and noticing agent.The U.S. Trustee for Region 7, has selected seven creditors to theOfficial Committee of Unsecured Creditors. The Committee tappedGreenberg Traurig, LLP as counsel; and Lazard Freres & Co. LLC andLazard Middle Market LLC, as financial advisors and investmentbankers.The Ad Hoc Group of Noteholders and the DIP Lenders arerepresented by Marty L. Brimmage, Jr., Esq., Charles R. Gibbs,Esq., Michael S. Haynes, Esq., and Lacy M. Lawrence, Esq., at AkinGump Strauss Hauer & Feld LLP.Prepetition secured lender TPG is represented by David M. Bennett,Esq., Tye C. Hancock, Esq., and Joseph E. Bain, Esq., at Thompson& Knight LLP; and Adam C. Harris, Esq., Lawrence V. Gelber, Esq.,David M. Hillman, Esq., and Brian C. Tong, Esq., at Schulte Roth &Zabel LLP.GT ADVANCED: Court OKs Joint Administration of Bankruptcy Cases---------------------------------------------------------------The U.S. Bankruptcy Court for the District of New Hampshireauthorized the joint administration of the Chapter 11 cases of GTAdvanced Technologies Inc., et al.The Court ordered that the lead case will be that of GT AdvancedTechnologies Inc., Case No. 14-11916. About GT Advanced TechnologiesGT Advanced Technologies Inc. -- http://www.gtat.com/-- is a diversified technology company producing advanced materials andinnovative crystal growth equipment for the global consumerelectronics, power electronics, solar and LED industries.Headquartered in Merrimack, New Hampshire, GT is a publicly heldcorporation whose stock is traded on NASDAQ under the tickersymbol "GTAT."As of June 28, 2014, the GTAT Group's unaudited and consolidatedfinancial statements reflected assets totaling $1.5 billion andliabilities totaling $1.3 billion. As of Sept. 29, 2014, GTAT had$85 million in cash, $84 million of which is unencumbered.On Oct. 6, 2014, GT Advanced Technologies and 8 affiliates filedvoluntary petitions for relief under Chapter 11 of the UnitedStates Bankruptcy Code (Bankr. D. N.H. Lead Case No. 14-11916).GT says that it has sought bankruptcy protection due to a "severeliquidity crisis."The Debtors have tapped Nixon Peabody LLP and Paul Hastings LLP asattorneys and Kurtzman Carson Consultants LLC as claims andnoticing agent.H & S CERT. AUTO: Case Summary & 13 Unsecured Creditors-------------------------------------------------------Debtor: H & S Cert. Auto, Inc. 9111 Falcon Ridge Drive Bridgeview, IL 60455Case No.: 14-38111Chapter 11 Petition Date: October 21, 2014Court: United States Bankruptcy Court Northern District of Illinois (Chicago)Judge: Hon. Carol A. DoyleDebtor's Counsel: David P Lloyd, Esq. DAVID P. LLOYD, LTD. 615B S. LaGrange Rd. LaGrange, IL 60525 Tel: 708 937-1264 Fax: 708 937-1265 Email: firstname.lastname@example.com email@example.com Assets: $929,036Total Liabilities: $1.76 millionThe petition was signed by Mohammed Hussein, president.A list of the Debtor's 13 largest unsecured creditors is availablefor free at http://bankrupt.com/misc/ilnb14-38111.pdfHOLLY HILL: Ch.11 Trustee Hires CBRE as Real Estate Broker----------------------------------------------------------Richard J. Laski, the Chapter 11 Trustee of Holly Hill CommunityChurch, aka Holy Hill Community Church, seeks authorization fromthe Hon. Julia W. Brand of the U.S. Bankruptcy Court for theCentral District of California to employ CBRE, Inc. as his realestate broker for the sale of the estate's interest in acommercial real property commonly known as 1111 Sunset Blvd., LosAngeles, CA 90012.CBRE will receive a commission equal to 3% of the Property's saleprice that is either actually received by escrow upon closing ofthe sale or the total sale proceeds received by the Debtor'sbankruptcy estate from the Sale of the Property or 4% if thesuccessful buyer is represented by an outside broker withoutfurther application to or order of the Court.Phillip Sample, senior vice president of CBRE, assured the Courtthat the firm is a "disinterested person" as the term is definedin Section 101(14) of the Bankruptcy Code and does not representany interest adverse to the Debtors and their estates.CBRE can be reached at: Phillip Sample CBRE, INC. 400 S. Hope Street, Suite 2500 Los Angeles, CA 90071 Tel: +1 (213) 613-3301 E-mail: email@example.com About Holy HillHolly Hill Community Church, aka Holy Hill Community Church, aprotestant church in Los Angeles, filed for Chapter 11 protection(Bankr. C.D. Cal. Case No. 14-21070) on June 5, 2014. Holly Hill,a California non-profit corporation incorporated for the purposesof conducting religious activities as a protestant Christianchurch, disclosed $20 million in assets and $12 million in debt.John Jenchun Suh, the pastor and CEO of the church, signed thebankruptcy petition. W. Dan Lee of the Lee Law Offices, in LosAngeles, is representing the Debtor as counsel. Judge Julia W.Brand presides over the case.Richard J. Laski has been appointed to serve as Chapter 11 trusteein the Debtor's case. The Trustee has tapped Arent Fox LLP toserve as his bankruptcy counsel, and Wilshire Partners of CA, LLC,as accountant.HOUSTON REGIONAL: Comcast's Appeal Expected If Court OKs Plan-------------------------------------------------------------David Barron, writing for Chron.com, reports that Comcast has saidit will make an appeal to the 5th U.S. Circuit Court of Appeals ifthe Hon. Marvin Isgur of the U.S. Bankruptcy Court for theSouthern District of Texas approves of Houston Regional SportsNetwork's plan of reorganization, which will bring CSN Houston toan end and result in layoffs for at least 96 of 141 workers.Accroding to Chron.com, Judge Isgur said earlier this month thathe would delay the effective takeover of the network by DirecTVand AT&T to provide Comcast time to appeal.Chron.com relates that if the Plan is approved, Root SportsHouston could be launched on Oct. 29, 2014, the first day aRockets regular-season game will be available for local broadcast. About Houston Regional Sports NetworkAn involuntary Chapter 11 bankruptcy petition was filed againstHouston Regional Sports Network, L.P. d/b/a Comcast SportsNetHouston (Bankr. S.D. Tex. Case No. 13-35998) on Sept. 27, 2013.The involuntary filing was launched by three units of Comcast/NBCUniversal and a television-related company. The petitioners are:Houston SportsNet Finance LLC, Comcast Sports Management ServicesLLC, National Digital Television Center LLC, and Comcast SportsNetCalifornia, LLC.The petitioning creditors have filed papers asking the BankruptcyJudge to appoint an independent Chapter 11 trustee "to conduct afair and open auction process for the Network's business assets ona going concern basis."Houston Regional Sports Network is a joint enterprise amongaffiliates of the Houston Astros baseball team, the HoustonRockets basketball team, and Houston SportsNet Holdings, LLC --"Comcast Owner" -- an affiliate of Comcast Corporation. TheNetwork has three limited partners -- Comcast Owner, RocketsPartner, L.P., and Astros HRSN LP Holdings LLC. The primarypurpose of Houston Regional Sports Network is to create andoperate a regional sports programming service that produces,exhibits, and distributes sports programming on a full-time basis,including live Astros and Rockets games within the league-permitted local territories.Counsel for the petitioning creditors are Howard M. Shapiro, Esq.,at Wilmer Cutler Pickering Hale and Dorr LLP; George W. Shuster,Jr., Esq., at Wilmer Cutler Pickering Hale and Dorr LLP; VincentP. Slusher, Esq., at DLA Piper; and Arthur J. Burke, Esq., atDavis Polk & Wardwell LLP.Judge Marvin Isgur presides over the case.The Network was officially placed into Chapter 11 bankruptcypursuant to a Feb. 7 Order for Relief. It has won approval tohire Haynes and Boone, Charles A. Beckham, Jr., Esq., HenryFlores, Esq., Abigail Ottmers, Esq., and Christopher L. Castillo,Esq., as counsel. It also hired Conway MacKenzie, Inc., asfinancial advisor.Harry Perrin, Esq., represents Astros owner Jim Crane. AlanGover, Esq., represents the Rockets.The Astros are represented by Richard B. Drubel, Esq., Colleen A.Harrison, Esq., and Jonathan R. Voegele, Esq., at Boies, Schiller& Flexner LLP, in Hanover, NH; and Scott E. Gant, Esq., at Boies,Schiller & Flexner in Washington, DC. Comcast Corporation andNBCUniversal Media, LLC, are represented by Vincent P. Slusher,Esq., Eli Burriss, Esq., Andrew Mayo, Esq., and Andrew Zollinger,Esq., at DLA Piper; Arthur J. Burke, Esq., Timothy Graulich, Esq.,and Dana M. Seshens, Esq., at Davis Polk & Wardwell LLP; andHoward M. Shapiro, Esq., and Craig Goldblatt, Esq., at WilmerCutler Pickering Hale and Dorr LLP. Attorney for McLaneChampions, LLC and R. Drayton McLane, Jr., are Wayne Fisher, Esq.,at Fisher Boyd & Huguenard, LLP.HRK HOLDINGS: Can Access Additional Loan From Regions Bank----------------------------------------------------------HRK Holdings, LLC and HRK Industries, LLC received court approvalto get additional loan from Regions Bank N.A.Judge K. Rodney May of the U.S. Bankruptcy Court for the MiddleDistrict of Florida signed off on an order allowing the companiesto borrow $228,254 from the bank under an operating line ofcredit.The bankruptcy judge also extended to Nov. 30 the maturity dateunder two loan facilities provided by Regions Bank. A copy of thecourt order is available for free at http://is.gd/3m2xgP About HRK HoldingsHRK Holdings and HRK Industries LLC filed for Chapter 11protection (Bankr. M.D. Fla. Case Nos. 12-09868 and 12-09869) onJune 27, 2012. Judge K. Rodney May oversees the case. Barbara A.Hart, Esq., and Scott A. Stichter, Esq., at Stichter, Riedel,Blain & Prosser, P.A., represents the Debtors.HRK Holdings disclosed $33,366,529 in assets and $26,092,559 inliabilities in its revised schedules.According to the Debtors, the bankruptcy filing was necessitatedby the immediate need to sell a portion of the remaining propertyto create liquidity for (a) funding the urgent management of thesite-related environmental concerns; the benefit of creditors;funding a litigation filed by the Debtors; and funding of expensesrelated to additional sales of the remaining property.HRK Holdings is selling real property assets to Allied UniversalCorp. and Mayo Fertilizer, Inc. The Court allowed HRK and thepurchasers to enter into any modifications to the agreementswithout need of further Court approval, provided that noamendments will occur without prior consent of Regions Bank.INTELLICELL BIOSCIENCES: Taps Dinosaur as Placement Agent---------------------------------------------------------Intellicell Biosciences, Inc., executed a letter agreement havingan effective date of Oct. 10, 2014, with Dinosaur Securities, LLC,pursuant to which Dinosaur and its subsidiaries, affiliates,successors and assigns, will act as the Company's advisor andplacement agent of investment capital through a private placementtransaction, according to a regulatory filing with the U.S.Securities and Exchange Commission.The Agreement provides that Dinosaur will be entitled to receive acash fee equal to 10% of the amount of capital raised fromDinosaur Contacts. In addition, at closing, the Company will sellto Dinosaur, and Dinosaur will purchase from the Company, for$0.001 per each share covered by the warrants, warrants, topurchase 10% of the number of shares of common stock obtained andobtainable by Dinosaur Contacts. The Warrants will be exercisableon a "cashless exercise" basis over a five year term. In theevent Dinosaur Contacts exercise warrants included in thefinancing contemplated by the Agreement, Dinosaur will be entitledto receive a cash fee of 5% on the amount of capital raised by theCompany on each such occasion from the Dinosaur Contacts.The Agreement further provides that the Company will sell toDinosaur, and Dinosaur will purchase from the Company, for $0.0001each, a number of warrants equal to 5% of the fully diluted sharesissued and outstanding for a total consideration of $1,000. Eachsuch warrant will have a term of five years and will beexercisable for one share at an exercise price of $0.001.Dinosaur will have the right of first refusal in the event theCompany, within the period of 18 months following the closing ofthe private placement, intends effectuate any public offering ofthe Company's securities.The Agreement provides that the Company will indemnify and holdharmless Dinosaur and any Indemnified Party against certainliabilities incurred. The Agreement may be terminated by theCompany at any time upon 30 days prior written notice. About Intellicell BiosciencesIntellicell BioSciences, Inc., headquartered in New York, N.Y.,was formed on Aug. 13, 2010, under the name "Regen Biosciences,Inc." as a pioneering regenerative medicine company to develop andcommercialize regenerative medical technologies in large marketswith unmet clinical needs. On Feb. 17, 2011, the company changedits name from "Regen Biosciences, Inc." to "IntelliCellBioSciences Inc". To date, IntelliCell has developed proprietarytechnologies that allow for the efficient and reproducibleseparation of stromal vascular fraction (branded"IntelliCell(TM)") containing adipose stem cells that can beperformed in tissue processing centers and in doctors' offices.Intellicell Biosciences reported a net loss of $11.14 million on$0 of total net revenues for the year ended Dec. 31, 2013, ascompared with a net loss of $4.15 million on $534,942 of total netrevenues during the prior year. The Company's balance sheet atJune 30, 2014, showed $3.34 million in total assets, $15.64million in total liabilities and a stockholders' deficit of $12.3million. Going Concern"The condensed consolidated financial statements have beenprepared on a going concern basis which assumes the Company willbe able to realize its assets and discharge its liabilities in thenormal course of business for the foreseeable future. The Companyhas incurred losses since inception resulting in an accumulateddeficit of $61,421,672 and a working capital deficit of$23,780,066 as of March 31, 2014, respectively. Further lossesare anticipated in the continued development of its business,raising substantial doubt about the Company's ability to continueas a going concern. The ability to continue as a going concern isdependent upon the Company generating profitable operations in thefuture and/or to obtain the necessary financing to meet itsobligations and repay its liabilities arising from normal businessoperations when they come due. Management intends to financeoperating costs over the next twelve months with existing cash onhand and a private placement of common stock or other debt orequity securities. There can be no assurance that we will be ableto obtain further financing, do so on reasonable terms, or do soon terms that would not substantially dilute our currentstockholders' equity interests in us. If we are unable to raiseadditional funds on a timely basis, or at all, we probably willnot be able to continue as a going concern," the Company said inthe quarterly report for the period ended March 31, 2014.IHS INC: Moody's Assigns Ba1 Corp. Family Rating; Outlook Stable----------------------------------------------------------------Moody's Investors Service assigned a first-time Ba1 CorporateFamily Rating (CFR) and a Ba1-PD Probability of Default Rating toIHS Inc (IHS) in connection with the company's proposed $500million senior notes offering. The senior notes due in 2022 arealso rated Ba1. Moody's also assigned a speculative gradeliquidity rating of SGL-1 to IHS. The ratings outlook is stable.The net proceeds from the new notes will be used to refinanceexisting debt.Ratings RationaleThe Ba1 rating reflects IHS' strong revenue growth prospects,including Moody's expectations of about 6% to 8% organic growththat will be augmented by acquired revenues, high EBITDA marginsof approximately 25% (incorporating Moody's standard analyticaladjustments, mainly stock-based compensation expense) and goodEBITDA to free cash flow conversion. Moody's expects IHS togenerate approximately $500 million in free cash flow in 2015(nearly 20% of total adjusted debt). IHS' credit profile isfurther supported by its high proportion of recurring revenues(77% of revenues) with high renewal rates, especially with thelarger customers that comprise the bulk of the company's revenuesand profitability. The company's subscription products areembedded in its customers' core operations and capital planningworkflows, leading to high client renewal rates.However, Moody's expects the company to remain acquisitive anddespite its strong growth, leverage will likely remain in the 3.5xto 4.0x range over the next 12 to 18 months as free cash flow willbe deployed primarily toward acquisitions. Pro forma for therefinancing, IHS' leverage will be 4.2x (total debt to LTM 3Q 2014EBITDA, incorporating Moody's adjustments, notably, stock-basedcompensation which adds about 1.1x to leverage).The stable ratings outlook reflects Moody's expectations thatorganic revenue growth should exceed 6% and total debt to EBITDAshould gradually decline to less than 4.0x over the next 12months.IHS' SGL-1 speculative grade liquidity rating is supported by thecompany's solid free cash flow, good cash balances andapproximately $700 million availability under the new $1.3 billionrevolving credit facility at the close of the refinancing.Given the expectations of high leverage over the intermediateterm, a ratings upgrade is not expected. However, Moody's couldraise IHS' ratings if earnings increase and the companydemonstrates a commitment to more conservative financial policies.IHS' ratings could be upgraded if Moody's expects IHS' total debtto EBITDA (Moody's adjusted) will be sustained below 3.0x and ifthe company maintains good revenue growth rates and EBITDAmargins. Conversely, the ratings could be downgraded if financialpolicies become more aggressive, organic revenue growth ratesdecline to the low single digit rates for an extended period oftime or EBITDA margins decline such that Moody's believes thattotal debt to EBITDA and free cash flow-to-debt are unlikely to besustained below 4x (Moody's adjusted) and in excess of 10%,respectively.The following ratings (assessments) were assigned: Corporate Family Rating, Ba1 Probability of Default Rating, Ba1-PD Senior Unsecured Notes due 2022, Ba1(LGD 4) Speculative Liquidity Grade, SGL-1The principal methodology used in this rating was Global Business& Consumer Service Industry Rating Methodology published inOctober 2010. Other methodologies used include Loss Given Defaultfor Speculative-Grade Non-Financial Companies in the U.S., Canadaand EMEA published in June 2009.IHS is a global provider of research, analytics and information tocustomers primarily in the energy, chemicals, electronics andtransportation industries. IHS generated $2.2 billion in revenuesin the twelve months ended August 2014.IHS INC: S&P Assigns 'BB+' CCR on Proposed Refinancing------------------------------------------------------Standard & Poor's Ratings Services said on Oct. 21, 2014, itassigned its 'BB+' corporate credit rating to Englewood, Colo.-based IHS Inc. The outlook is stable.At the same time, S&P assigned its 'BB+' issue-level rating toIHS' $1.3 billion senior unsecured revolving credit facility due2019, $700 million senior unsecured term loan due 2019, andproposed $500 million senior unsecured notes due 2022. The '3'recovery rating on these instruments indicates S&P's anticipationfor meaningful recovery (50% to 70%) in the event of paymentdefault. The recovery rating for these instruments is capped at'3'; recovery ratings on unsecured debt issued by companies rated'BB-' or higher are capped at '3' to account for the risk ofincremental debt issuance prior to default.The proceeds from the new notes will be used to repay IHS' termloan due 2015 and a portion of the balance on its revolving creditfacility. IHS Global Inc. is the borrower of the $700 millionterm loan."The ratings reflect our view of IHS' acquisitive growth strategy,which we believe could result in re-leveraging to the 4x area, andits good market positions, high recurring revenue, and good trackrecord of operating performance," said Standard & Poor's creditanalyst Christian Frank.IHS' business risk profile incorporates S&P's view of its leadingposition in the markets for energy and automotive data andanalytics, high recurring revenue (above 75% of total), uniquedata sources particularly in the automotive area, and good trackrecord of operating performance with mid-single-digit averageannual organic revenue growth during the past several years aincreasing profit margins. Partly offsetting the above strengths,in S&P's view, are IHS' integration risks associated withacquisitions that have grown in size over time (although to date,these risks have not had materially negative effects on operatingperformance) and the use of publicly available data sourcesparticularly in its energy products (although value-addedanalytics transform such data into unique offerings).IHS' financial risk profile reflects S&P's view of its leverage of2.8x as of Aug. 31, 2014, down from a peak in the high 3x area oneyear ago, pro forma for its acquisition of R.L. Polk, on acombination of pro forma EBITDA growth and debt repayment. Thecompany generated $586 million in free operating cash flow (FOCF)for the 12 months ended Aug. 31, 2014, partly benefiting from highworking capital cash sources. The rating reflects S&P's view thatthe company's acquisitive growth strategy could result intransactions that would re-leverage the company to the 3x-4xrange.IHS provides data and analytics products for the energy,automotive, and other adjacent industries on a global scale. Thecompany has targeted capital-intensive industries that use itsproducts to inform decisions on investment spending. The industryis fragmented but differentiated with market participants offeringniche products, and pricing has thus been stable. IHS competesagainst a large number of players in its various segments but nosingle competitor across its entire business. As a result of thisfragmentation, S&P sees significant opportunity for IHS tocontinue its acquisitive growth strategy.The stable outlook reflects S&P's view that IHS' good marketposition and recurring revenue base are likely to result inconsistent operating performance over the next 12 months.S&P could lower the rating if the company pursues debt-financedacquisitions or implements more aggressive shareholder returnprograms resulting in sustained leverage of more than 4x.S&P could raise the rating if IHS restores debt capacity such thatS&P believes it can achieve its growth and shareholder returnobjectives while generally maintaining leverage in the high 2xarea or lower.IHS INC: S&P Ratings Unaffected by Upsized Notes------------------------------------------------In an Oct. 21, 2014 release, Standard & Poor's Ratings Servicessaid that its corporate credit rating on IHS Inc. (BB+/Stable/--)remains unchanged following the upsizing of the company's proposedsenior unsecured notes to $750 million from $500 million. Thecompany will use the incremental proceeds to pay down borrowingson its revolving credit facility. Also unchanged are the 'BB+'issue-level and '3' recovery ratings on the company's revolvingcredit facility, term loan, and proposed notes, all of which areunsecured. The '3' recovery rating indicates S&P's expectationfor meaningful recovery (50% to 70%) in the event of paymentdefault. S&P's recovery expectations fall in the upper half ofthe 50% to 70% range.KENNY G: Owner Defeated in Emein Suit Appeal--------------------------------------------In a court trial, Shadi Emein, individually and in her capacity astrustee of the EM Trust, and her husband Kami Emein obtained ajudgment of $1,796,625.50 against Kenneth Gharib for breach of asettlement agreement and mutual release arising from priorlitigation between the Emeins and Gharib and a corporation Gharibcontrolled, Kenny G. Enterprises, LLC. The settlement agreementcalled for installment and other payments to the Emeins totaling$1.5 million.At trial, the parties introduced different documents that theypurported to be the settlement agreement. Under the document theEmeins introduced, both Gharib and KGE were liable for the $1.5million. The Emeins' document bore the parties' originalsignatures. Under the document Gharib introduced, only KGE, andnot Gharib, was liable for the $1.5 million. Gharib's documentbore copied signatures.The trial court found that Exhibit 1 was the operative settlementagreement. After the trial court rendered its verdict but beforeit entered judgment, Gharib moved to reopen his case-in-chief,claiming that he had found his signed original copy of thesettlement agreement under which only KGE, and not Gharib, wasliable. The trial court denied the motion.On appeal, Gharib contends that the trial court abused itsdiscretion in denying his motion to reopen his case-in-chief.Alternatively, he contends that the trial court erred inaccelerating the payments due under the settlement agreement.In an October 20 decision available at http://is.gd/zMp9uhfrom Leagle.com, the Court of Appeals of California, Second District,Division Five, affirmed the trial court's denial of Gharib'smotion to reopen his case-in-chief, reversed the trial court'sdamages award, and remanded the matter to the trial court for arecalculation of damages, including interest.The case is, SHADI EMEIN et al., Plaintiffs and Respondents, v.KENNETH GHARIB, Defendant and Appellant, No. B248352 (Cal. App.).Kenny G Enterprises, LLC, based in Irvine, Calif., filed forChapter 11 bankruptcy (Bankr. C.D. Cal. Case No. 11-24750) inSanta Ana on Oct. 24, 2011. Perry Roshan-Zamir, Esq., at the LawOffices Of Perry Roshan-Zamir, served as counsel. In itspetition, the Debtor did not declare estimated assets but saiddebts are between $1 million to $10 million. The petition wassigned by Kenneth Gharib, managing member.At that time of the bankruptcy filing, the bankruptcy estate'sproperty included the residence located at 10 Horseshoe Court,Hillsborough, California.On Nov. 14, 2012, the Debtor filed a reorganization plan. TheBankruptcy Court confirmed the plan on Jan. 3, 2013. ParagraphVII(a) of the plan, consistent with bankruptcy law, revested theHillsborough property in the Debtor.KID BRANDS: Gets Approval to Resolve Dispute With Disney Consumer-----------------------------------------------------------------Kid Brands, Inc. received court approval for a deal that wouldresolve its dispute with Disney Consumer Products Inc. over thesale of its assets that include Disney-branded inventory andtooling.The settlement allows Kid Brands, the East Rutherford-based makerof baby bedding, furniture and toys, to sell the assets inexchange for a release of any claim it may have against Disney.Meanwhile, Disney agreed to waive any claim tied to the licensesit previously provided to the company. About Kid BrandsBased in Rutherford, New Jersey, Kid Brands, Inc., is a designer,importer, marketer, and distributor of infant and juvenileconsumer products. Its operating subsidiaries consist of KidsLine, LLC, CoCaLo, Inc., Sassy, Inc., and LaJobi, Inc. Providing"everything but the baby" for a child's nursery, the company sellsinfant bedding and accessories under the Kids Line and CoCaLobrands; nursery furniture under the LaJobi brand; and baby careitems under the Kokopax and Sassy brands.Citing their inability to raise capital due to contingentliabilities and operational issues, Kid Brands and six of its U.S.subsidiaries each filed a voluntary petition for relief underChapter 11 of the Bankruptcy Code (Bankr. D.N.J. Lead Case No. 14-22582) on June 18, 2014. To preserve the value of their assets,the Debtors are pursuing a sale of the assets pursuant to section363 of the Bankruptcy Code.As of April 30, 2014, the Debtors had $32.40 million in totalassets and $109.1 million in total liabilities. As of thePetition Date, unsecured debts totaled $54 million.Judge Donald H. Steckroth oversees the cases. The Debtors havesought and obtained an order directing joint administration oftheir Chapter 11 cases.Lowenstein Sandler LLP serves as the Debtors' counsel.PricewaterhouseCoopers LLP is the Debtors' financial advisor. GRLCapital Advisors acts as the Debtors' restructuring advisors.GRL's Glenn Langberg served as the Debtors' chief restructuringofficer. Mr. Langberg also oversaw the bankruptcy and sales ofBig M Inc., operator of the Mandee and Annie Sez stores. RustConsulting/Omni Bankruptcy is the Debtors' claims and noticingagent.Salus Capital Partners LLC and Sterling National Bank havecommitted to provide up to $49 million in DIP financing to theDebtors.KO-KAUA OHANA: Propsoes GlassRatner as Interest Rate Expert-----------------------------------------------------------Ohana Group LLC is seeking approval to employ GlassRatner Advisory& Capital Group, LLC as its interest rate expert.Bankruptcy Judge Marc Barreca has scheduled a hearing on Oct. 31,2014, 9:30 a.m. Objections, if any, are due Oct. 24.GlassRatner will assist the Debtor in demonstrating to the Courtthat the proposed interest rate in its First Amended Plan isreasonable and appropriate under the applicable standards.The Debtor and its former bankruptcy counsel, Bush Strout &Kornfeld LLP, engaged J. Michael Issa of GlassRatner as itsinterest rate expert to prepare a written expert report andtestify, as necessary, at the evidentiary hearing on the Debtor'sFirst Amended Plan of Reorganization, which was set for Dec. 9 and10, 2013. The Debtor intended to seek approval of GlassRatner'sengagement but the application was not filed.To the best of the Debtor's knowledge, GlassRatner is a"disinterested person" as that term is defined in Section 101(14),of the Bankruptcy Code.The Trustee previously objected to the Debtor's ex parte motionfor approval, nun pro tunc, of GlassRatner's employment, arguingthat the motion must be on a notice basis, and a further showingof "exceptional circumstances" be made.The Debtor submitted that "exceptional circumstances" are met, andthat the services rendered by GlasRather did have a direct benefitto the estate in a significant manner.In this relation, the Debtor requested that the Court authorizethe engagement of GlassRatner. About Ohana Group LLCOhana Group LLC, in Seattle, Washington, filed for Chapter 11bankruptcy (Bankr. W.D. Wash. Case No. 12-21904) on Nov. 30, 2012.Judge Marc Barreca oversees the case. James L. Day, Esq., at BushStrout & Kornfeld LLP, serves as bankruptcy counsel. In itspetition, the Debtor scheduled $16,000,000 in assets and$11,696,131 in liabilities.LEHMAN BROTHERS: Owes $38.6MM, Tobacco Settlement Fund Says-----------------------------------------------------------Joseph Checkler, writing for Daily Bankruptcy Review, reportedthat the state of Washington's tobacco settlement authority saysLehman Brothers Holdings Inc. owes it nearly $40 million for aterminated swap agreement tied to money Lehman invested for it.According to the report, in a filing with U.S. Bankruptcy Court inManhattan, lawyers for the tobacco authority say Lehman's expertwitness's contention that Lehman is actually the one owed money is"absurd." About Lehman BrothersLehman Brothers Holdings Inc. -- http://www.lehman.com/-- was the fourth largest investment bank in the United States. For morethan 150 years, Lehman Brothers has been a leader in the globalfinancial markets by serving the financial needs of corporations,governmental units, institutional clients and individualsworldwide.Lehman Brothers filed for Chapter 11 bankruptcy September 15, 2008(Bankr. S.D.N.Y. Case No. 08-13555). Lehman's bankruptcy petitionlisted US$639 billion in assets and US$613 billion in debts,effectively making the firm's bankruptcy filing the largest inU.S. history. Several other affiliates followed thereafter.The Debtors' bankruptcy cases are handled by Judge James M. Peck.Harvey R. Miller, Esq., Richard P. Krasnow, Esq., Lori R. Fife,Esq., Shai Y. Waisman, Esq., and Jacqueline Marcus, Esq., at Weil,Gotshal & Manges, LLP, in New York, represent Lehman. EpiqBankruptcy Solutions serves as claims and noticing agent.On Sept. 19, 2008, the Honorable Gerard E. Lynch, Judge of theU.S. District Court for the Southern District of New York, enteredan order commencing liquidation of Lehman Brothers, Inc., pursuantto the provisions of the Securities Investor Protection Act (CaseNo. 08-CIV-8119 (GEL)). James W. Giddens has been appointed astrustee for the SIPA liquidation of the business of LBI.The Bankruptcy Court has approved Barclays Bank Plc's purchase ofLehman Brothers' North American investment banking and capitalmarkets operations and supporting infrastructure forUS$1.75 billion. Nomura Holdings Inc., the largest brokeragehouse in Japan, purchased LBHI's operations in Europe for US$2plus the retention of most of employees. Nomura alsobought Lehman's operations in the Asia Pacific for US$225 million. International Operations CollapseLehman Brothers International (Europe), the principal UK tradingcompany in the Lehman group, was placed into administration,together with Lehman Brothers Ltd, LB Holdings PLC and LB UK REHoldings Ltd. Tony Lomas, Steven Pearson, Dan Schwarzmann andMike Jervis, partners at PricewaterhouseCoopers LLP, have beenappointed as joint administrators to Lehman Brothers International(Europe) on September 15, 2008. The joint administrators havebeen appointed to wind down the business.Lehman Brothers Japan Inc. and Lehman Brothers Holdings Japan Inc.filed for bankruptcy in the Tokyo District Court on September 16.Lehman Brothers Japan Inc. reported about JPY3.4 trillion (US$33billion) in liabilities in its petition.Bankruptcy Creditors' Service, Inc., publishes Lehman BrothersBankruptcy News. The newsletter tracks the Chapter 11 proceedingundertaken by Lehman Brothers Holdings, Inc., and other insolvencyand bankruptcy proceedings undertaken by its affiliates.(http://bankrupt.com/newsstand/or 215/945-7000) LIBERATOR INC: Issues Letter to Shareholders--------------------------------------------Liberator Inc. filed with the U.S. Securities and ExchangeCommission a copy of a letter to shareholders dated Oct. 20, 2014,to give an update on its significant progress across a number offronts and its vision for the future of the business.Louis Friedman, CEO, said the Company is moving forward withadditional products and business lines.He added, "Looking back to the changes in our industry and in ourbusiness has led us to the evolution of our vision statement. Itnow reads: We are not just a company; we are a global brandcategory that not only enhances a life of intimacy, but helpscreate it."A copy of the Letter is available for free at: http://is.gd/M9ZTRm About Liberator Inc.Atlanta, Georgia-based Liberator is a vertically integratedmanufacturer that designs, develops and markets products andaccessories that enhance intimacy. Liberator is also a nationallyrecognized brand trademark, brand category and a patented line ofproducts commonly referred to as sexual positioning shapes and sexfurniture.Liberator disclosed a net loss of $376,056 on $14.71 million ofnet sales for the year ended June 30, 2014, compared to a net lossof $288,485 on $13.84 million of net sales for the year ended June30, 2013.The Company's balance sheet at June 30, 2014, showed $3.31 millionin total assets, $5.20 million in total liabilities and a $1.89million total stockholders' deficit.Liggett, Vogt & Webb, P.A., in Boynton Beach, Florida, issued a"going concern" qualification on the consolidated financialstatements for the year ended June 30, 2014. The independentauditors noted that the Company has a net loss of $376,056, aworking capital deficiency of $1,685,712, an accumulated deficitof $8,423,741 and a negative cash flow from continuing operationsof $199,396. These factors raise substantial doubt about theCompany's ability to continue as a going concern.LIQUIDMETAL TECHNOLOGIES: Stockholders Elected 6 Directors----------------------------------------------------------Liquidmetal Technologies, Inc., held its annual meeting ofstockholders on Oct. 16, 2014, at which the stockholders: (i) elected Thomas Steipp, Scott Gillis, Abdi Mahamedi, Ricardo Salas, Bob Howard-Anderson and Richard Sevcik to the Company's board of directors; (ii) voted against the amendment to the Company's 2012 Equity Incentive Plan to (a) increase the aggregate number of shares of common stock authorized for issuance under the plan by 30,000,000 shares, and (b) increase the aggregate number of shares of common stock that may be issued or transferred upon the exercise of incentive stock options by 30,000,000 shares; (iii) granted advisory approval of the compensation of the Company's named executive officers; and (iv) ratified the appointment of SingerLewak LLP as the Company's independent registered public accounting firm for fiscal year 2014. About Liquidmetal TechnologiesBased in Rancho Santa Margarita, Cal., Liquidmetal Technologies,Inc., and its subsidiaries are in the business of developing,manufacturing, and marketing products made from amorphous alloys.Liquidmetal Technologies markets and sells Liquidmetal(R) alloyindustrial coatings and also manufactures, markets and sellsproducts and components from bulk Liquidmetal alloys that can beincorporated into the finished goods of its customers across avariety of industries. The Company also partners with third-party licensees and distributors to develop and commercializeLiquidmetal alloy products.Liquidmetal reported a net loss and comprehensive loss of $14.24million on $1.02 million of total revenue for the year endedDec. 31, 2013, as compared with a net loss and comprehensive lossof $14.02 million on $650,000 of total revenue for the year endedDec. 31, 2012.The Company's balance sheet at June 30, 2014, showed $16.01million in total assets, $8.45 million in total liabilities, andstockholders' equity of $7.56 million.SingerLewak LLP, in Los Angeles, California, issued a "goingconcern" qualification on the consolidated financial statementsfor the year ended Dec. 31, 2013. The independent auditors notedthat the Company has suffered recurring losses from operations andhas an accumulated deficit. This raises substantial doubt aboutthe Company's ability to continue as a going concern.MAIN STREET HOLDINGS: Case Summary & 20 Top Unsecured Creditors---------------------------------------------------------------Debtor: Main Street Holdings, LLC PO Box 709 Waukesha, WI 53187-0709Case No.: 14-33043Chapter 11 Petition Date: October 21, 2014Court: United States Bankruptcy Court Eastern District of Wisconsin (Milwaukee)Debtor's Counsel: William H. Green, Esq. GREEN & KAPSOS LAW OFFICES, LLC 3216 South 92nd Street, Ste. 201 Milwaukee, WI 53227 Tel: 414-543-5369 Fax: 414-543-1164 Email: firstname.lastname@example.com Assets: $4.22 millionTotal Liabilities: $3.99 millionThe petition was signed by J. A. Fuller, manager.A list of the Debtor's 20 largest unsecured creditors is availablefor free at http://bankrupt.com/misc/wieb14-33043.pdfMASON COPPELL: Has Nov. 24 Plan Confirmation Hearing----------------------------------------------------Bill Rochelle and Sherri Toub, bankruptcy columnists for BloombergNews, reported that the U.S. Bankruptcy Court in Texas hasapproved the disclosure statement explaining the liquidatingChapter 11 plan filed by the Official Committee of UnsecuredCreditors for Mason Coppell OP LLC and scheduled a Nov. 24 hearingto consider confirmation of the plan.As previously reported by The Troubled Company Reporter, under thePlan, the Creditors Committee proposes to administer thebankruptcy assets through a Liquidating Trust and appoint aLiquidating Trustee to, among other things, (i) allocate the saleproceeds; (ii) pay all secured claims, administrative expenses andpriority claims; (iii) liquidate all remaining assets, convertingthe assets to cash; and (iv) distribute the cash to unsecuredcreditors pursuant to the terms of the Plan.Secured claims of Oxford Finance LLC will only be paid out of theassets of the Debtors obligated to Oxford Finance LLC. MasonMesquite's estate will pay 20% of the Chapter 11 AdministrativeClaims incurred during the administration of the Bankruptcy Casesand 100% of any tax, secured or other priority claims assertedagainst its estate. The remaining cash will be allocated to aLiquidation Reserve established for the Oxford Debtors (the"Oxford Debtor Reserve" as defined in the Plan) and used to paythe Oxford Secured Claim, the remaining 80% of the Chapter 11Administrative Claims, and all other tax, secured or priorityclaims asserted against the Oxford Debtors. To ensure a fairbalancing of the Oxford Debtors' assets, the Plan uses a formulato divide the remaining cash among the Oxford Debtors.Creditors will also have the opportunity to participate in futurelitigation of estate causes of action. The Plan gives theunsecured creditors an option to "opt in" or "opt out" of futurelitigation. The Creditors Committee believes this opt-in/opt-outapproach gives creditors the flexibility to decide how best to usethe available funds -- distribute them faster, or hold some backin an effort to maximum recoveries through litigation.Based on these proposed allocations and divisions, the CreditorsCommittee anticipates that general unsecured creditors of eachestate will receive distributions of 14% to 17% for creditors ofthe Oxford Debtors, or approximately 25% for creditors of MasonMesquite. About Mason CoppellMason Coppell OP, LLC, Mason Georgetown OP, LLC, Mason MesquiteOP, LLC, and Mason Round Rock OP, LLC operate five skilled nursinghomes in Texas. Mason Georgetown RealCo, LLC, owns the realestate and building for the operations of Mason Georgetown. Theyinitiated the Chapter 11 cases to effectuate a prompt transfer oftheir assets and operations to preserve patient safety and anypotential value for creditors.Mason Coppell OP, LLC, et al., filed Chapter 11 bankruptcypetitions (Bankr. N.D. Tex. Case Nos. 14-31327 to 14-14-31334) onMarch 18, 2014. Judge Stacey Jernigan presides over the cases.The Debtors estimated assets of at least $10 million and debts ofat least $10 million.The Debtors, except Mason Georgetown Realco, are represented byJoe E. Marshall, Esq., Thomas D. Berghman, Esq., and Timothy A.Million, Esq., at Munsch Hardt Kopf & Harr, P.C. GeorgetownRealco is represented by Jonathan S. Covin, Esq., and Shayla L.Friesen, Esq., at Wick Phillips Gould & Martin, LLP.Deloitte Transactions and Business Analytics, LLP, acts as theDebtors' restructuring advisor with Louis Robichaux serving aschief restructuring officer.On March 28, 2014, the U.S. Trustee appointed an UnsecuredCreditors' Committee in the cases. To date there has been norequest made for the appointment of a trustee or examiner.Counsel for the Committee is Cox Smith Mathews Incorporated's MarkAndrews, Esq.Counsel for Oxford Finance, LLC, which is owed almost $16 millionon a term loan and revolving credit, is Vedder Price P.C.'s JonAberman, Esq.Mason Coppell OP, LLC, et al., obtained Court authority to sellsubstantially all of their assets for a total of $16.1 million,consisting of $4.0 million for so-called facility assets and $12.1million for the 142-bed nursing home facility commonly known asEstrella Oaks Rehabilitation Care Center, in Georgetown, Texas.At the closing of the sale, proceeds of the sale of the realproperty in the amount of $12.1 million, less adjustments,required U.S. Trustee fees, and required administrative expenses,will be paid to Oxford.Debtor Mason Friendswood OP, LLC, has separately sought authorityto sell the Friendship Haven Health and Rehabilitation Center toensure uninterrupted and continued care at the Facility.The Official Committee of Unsecured Creditors filed a Plan ofLiquidation and accompanying Disclosure Statement on August 29,2014.MEDICAL PROPERTIES: Moody's Affirms 'Ba1' Corp. Family Rating-------------------------------------------------------------Moody's Investors Service has affirmed the Ba1 senior unsecureddebt rating and Ba1 corporate family rating of Medical PropertiesTrust, Inc. The rating outlook is stable. These ratingaffirmations follow the REIT's announcement that it has agreed toacquire and lease back substantially all of the real estate assetsof MEDIAN Kliniken Group, the largest private provider of post-acute and acute rehabilitation services in Germany. The purchaseprice for the real estate is about 705 million euros, or $900million based on current exchange rates. MPT also announced $155million of additonal previously undisclosed investments andcommitments, consisting of a mix of US acute care hosptials andGerman rehab facilities that will be leased to RHM - a currenttenant of MPT's assets in Germany.The following ratings were affirmed with a stable outlook: MPT Operating Partnership, L.P. -- senior unsecured debt at Ba1; senior unsecured debt shelf at (P)Ba1 MPT Finance Corporation -- senior unsecured debt shelf at (P)Ba1 Medical Properties Trust, Inc. -- corporate family rating at Ba1Ratings RationaleMoody's notes that the MEDIAN acquisition offers MPT enhanced size(gross assets increasing about 26%), with a broader and deeperplatform of healthcare real estate investments. This is the REIT'ssecond investment in Germany, as it acquired a smaller portfolioof rehabilitation facilities leased to RHM in 2013. Moody's viewthe REIT's international strategy positively as it is enhancingits geographic diversification in a market with stable paymentdynamics and positive demographic trends similar to those thatprevail in the U.S. MPT is also expanding its future growthopportunities, as it is establishing relationships with leadingoperators in the German healthcare market, which is highlyfragmented and ripe for consolidation.Moody's believes the largest credit risks associated with thisacquisition include execution risk associated with the REIT'scontinued rapid growth trajectory, particularly as it is nowentering new markets and moving to a global platform. Furthermore,it is also gaining a new top tenant exposure with Median, who willcomprise 20% of the pro forma portfolio. Persistent tenantconcentration remains a key credit challenge for MPT. The REITdoes have strong EBITDAR coverage ratios throughout most of itsportfolio, which provides cushion, but risks remain.Moody's expects that this transaction will be financed with a mixof long-term capital that allows the REIT to adhere to its statedfinancial policies (approximately 40%-45% debt/gross assets). TheREIT has a history of maintaining relatively strong credit metricsfor its rating category and Moody's does not expect this tochange.MPT's stable outlook reflects Moody's expectation that the REITwill successfully integrate recent acquisitions and continue togrow and diversify its portfolio, while maintain relativelyconservative credit metrics for its rating category and soundliquidity.Upward ratings movement would likely reflect increased size (grossassets above $5 billion), while reducing tenant concentration (toptwo operators below 30% of revenues). Maintenance of NetDebt/EBITDA below 5.5x on average and fixed charge coverage closerto 3.5x, as well as stable tenant operating performance (asreflected by EBITDAR coverage ratios) would also be needed.Downward ratings movement would be likely should MPT's fixedcharge coverage fall below 2.5x on a sustained basis or leveragerise above 50% of gross assets. In addition, should one of MPT'slarger operators experience a reduced capacity to meet rentalobligations, the REIT's ratings could be downgraded.The principal methodology used in this rating was Global RatingMethodology for REITs and Other Commercial Property Firmspublished in July 2010.The last rating action with respect to Medical Properties Trustwas on March 1, 2012 when Moody's upgraded the ratings with astable outlook.Medical Properties Trust (NYSE: MPW) is a real estate investmenttrust that acquires, develops, leases and makes investments inhealthcare facilities, including acute care hospitals, inpatientrehabilitation hospitals, and long-term acute care hospitals.MICHAEL GLYN BROWN: Court Limits Ex-Wife's Claim to $18,000-----------------------------------------------------------Bankruptcy Judge Jeff Bohm in Houston, Florida, junked a $571,080claim filed by Rachel Brown, the widow of debtor Michael GlynBrown, against the Debtor's bankruptcy estate. Judge Bohm said hecan only recommend awarding her the "paltry" sum of $18,000 fromthe Debtor's probate estate -- the maximum allowable amount underFlorida law."The Court is not enamored with this result, as the Applicant hasundergone several years of hostile divorce proceedings with theDebtor while raising three minor children. . . . But, this Courtwill not disregard the applicable Florida statute," the judgeexplained. "The Florida Legislature has passed a statute thatunambiguously places a ceiling of $18,000 on the family allowance,and provides for no allowance in lieu of homestead or exemptpersonal property; and this Court cannot "use its remedial powersto circumvent the intent of the legislature." . . . The onlyconsolation that this Court can take in issuing this harsh rulingis that the Applicant has recently remarried, and hopefully hernew husband can assist her, both emotionally and financially, inraising her children and leading a more peaceful life herself."Michael Glyn Brown, who was trained as a physician, owned asuccessful group of hand surgery centers utilizing his patentedhand surgery technique. These centers generated annual revenuesin the millions of dollars for many years.In August 2010, the Debtor and Rachel Brown separated. RachelBrown thereafter filed for divorce in Texas state court.On Jan. 23, 2013, the Debtor filed a Chapter 11 petition in theU.S. Bankruptcy Court for the Southern District of Florida. OnSeptember 24, 2013, venue of the Chapter 11 case was transferredto the Southern District of Texas. On November 10, 2013, theDebtor died in Florida.The divorce proceedings were extremely acrimonious and protracted.The Debtor and Rachel Brown had still not obtained a decree ofdivorce by the time that the Debtor died in November 2013.The bankruptcy cases are In Re MICHAEL GLYN BROWN, In Re LIONHEARTCOMPANY, INC., In Re CASTLEMANE, INC., In Re PRORENTALS, INC., InRe SUPERIOR VEHICLE LEASING CO., INC., and In Re MG BROWN COMPANY,LLC, Case Nos. 13-35892-H4-7, 13-36390-H4-7, 13-36407-H4-7, 13-36408-H4-7, 13-36410-H4-7, 13-36411-H4-7, Jointly Administeredunder Case No. 13-35892-H4 (Bankr. S.D. Tex.). A copy of JudgeBohm's October 17, 2014 Memorandum Opinion is available athttp://is.gd/rbZih4from Leagle.com. MVB HOLDING: Names Michael Cavanaugh as Gaming Commission Counsel-----------------------------------------------------------------MVB Holding, LLC seeks authorization from the U.S. BankruptcyCourt for the Southern District of Mississippi to employ MichaelCavanaugh as special counsel.Mr. Cavanaugh will represent the Debtor with respect to Gamingmatters and matters pending before or related to the MississippiGaming Commission for and on behalf of the debtor-in-possession.The Debtor will pay Mr. Cavanaugh $350 per hour.The Debtor assured the Court Mr. Cavanaugh is a "disinterestedperson" as the term is defined in Section 101(14) of theBankruptcy Code and does not represent any interest adverse to theDebtors and their estates.MVB Holding, LLC, in Biloxi, Mississippi, filed a Chapter 11bankruptcy petition (Bankr. S.D. Miss. Case No. 14-51430) onSept. 16, 2014. MVB owns the Margaritaville casino in Biloxi.Judge Katharine M. Samson presides over the case. Robert AlanByrd, Esq., at Byrd & Wiser, serves as the Debtor's counsel. Inits petition, MVB estimated $10 million to $50 million in assetsand liabilities. The petition was signed by Doug Shipley aspresident/CEO.NATROL INC: Has Until February 2015 to File Plan------------------------------------------------Judge Brendan Linehan Shannon of the U.S. Bankruptcy Court for theDistrict of Delaware extended the period by which Natrol, Inc., etal., have exclusive right to file a plan until Feb. 6, 2015, andthe period by which the Debtors have exclusive right to solicitacceptances of that plan until April 7, 2015. About Natrol, Inc.Headquartered in Chatsworth, Calif., Natrol, Inc. --http://www.natrol.com-- is a wholly owned subsidiary of Plethico Pharmaceuticals Limited. Plethico Pharmaceuticals Limited (BSE:532739. BO: PLETHICO) engages in the manufacturing, marketing anddistribution of pharmaceutical and allied healthcare productsaround the world. Natrol products are made in the U.S.Established in 1980, Natrol, Inc. has been a global leader in thenutrition industry, and a trusted manufacturer and marketer of asuperior quality of herbs and botanicals, multivitamins, specialtyand sports nutrition supplements made to support health andwellness throughout all ages and stages of life. Natrol productsare available in health food stores, drug and grocery stores, andmass-market retailers, and through Natrol.com and other onlineretailers. Natrol distributes products nationally through morethan 54,000 retailers as well as internationally in over 40 othercountries through distribution partners.Natrol, Inc., and its six affiliates sought bankruptcy protectionon June 11, 2014 (Case No. 14-11446, Bankr. D. Del.). The case isassigned to Judge Brendan Linehan Shannon. The Debtors arerepresented by Robert A. Klyman, Esq., and Samuel A. Newman, Esq.,at Gibson, Dunn & Crutcher LLP, in Los Angeles, California; andMichael R. Nestor, Esq., Maris J. Kandestin, Esq., and Ian J.Bambrick, Esq., at Young Conaway Stargatt & Taylor, LLP, inWilmington, Delaware. The Debtors' Claims and Noticing Agent isEpiq Systems Inc.The Debtors requested that the Court approve the employment of (i)Jeffrey C. Perea of the firm Conway MacKenzie Management Services,LLC as chief financial officer and for CMS to provide temporaryemployees to assist Mr. Perea in carrying out his duties; (ii)Stephen P. Milner of the firm Squar, Milner, Peterson, Miranda &Williamson LLP as chief restructuring officer and for CMS toprovide temporary employees to assist Mr. Milner in carrying outhis duties; (iv) BDO USA, LLP as auditor; (v) TaxGroup Partners astax services provider.The U.S. Trustee for Region 3 on June 19 appointed five creditorsof Natrol, Inc. to serve on the official committee of unsecuredcreditors. The Committee tapped to retain Otterbourg P.C. as leadcounsel; (ii) Pepper Hamilton LLP as Delaware counsel; and (iii)CMAG as financial advisors.NAUTILUS HOLDINGS: Files Chapter 11 Plan----------------------------------------Bill Rochelle and Sherri Toub, bankruptcy columnists for BloombergNews, reported that Nautilus Holdings Ltd., the owner of 16container ships, filed a proposed reorganization plan andexplanatory disclosure statement that would implement changes in$144.4 million of financing for the vessels M/V Texas and M/VWashington provided by lender DVB Bank SE.According to the report, the bankruptcy court will hold a hearingon Nov. 14 to consider approval of the disclosure statement,required before creditors can vote. The agreement with DVBrequires approval of the disclosure statement by Dec. 1 and courtapproval of the plan with a confirmation order signed by thebankruptcy judge by Jan. 15, the report related. About Nautilus HoldingsNautilus Holdings Limited and 20 affiliated companies, includingNautilus Holdings No. 2 Limited, filed bare-bones Chapter 11bankruptcy petitions (Bankr. S.D.N.Y. Lead Case No. 14-22885) inWhite Plains, New York, on June 23, 2014.The affiliates are Nautilus Holdings No. 2 Limited; NautilusShipholdings No. 1 Limited; Nautilus Shipholdings No. 2 Limited;Nautilus Shipholdings No. 3 Limited; Able Challenger Limited;Charming Energetic Limited; Dynamic Continental Limited; EarlstownLimited; Findhorn Osprey Limited; Floral Peninsula Limited; GoldenKnighthead Limited; Magic Peninsula Limited; Metropolitan HarbourLimited; Metropolitan Vitality Limited; Miltons' Way Limited;Perpetual Joy Limited; Regal Stone Limited; Resplendent SpiritLimited; Superior Integrity Limited; and Vivid Mind Limited.The Debtors' cases have been assigned to Judge Robert D. Drain,and are being jointly administered for procedural purposes.Hamilton, Bermuda-based Nautilus estimated $100 million to $500million in assets and debt. Monrovia, Liberia-based ReminiscentVentures S.A. owns 100% of the stock. Nautilus has tapped JayGoffman, Esq., Mark A. McDermott, Esq., Shana A. Elberg, Esq., andSuzanne D.T. Lovett, Esq., at Skadden, Arps, Slate, Meagher & FlomLLP, in New York, as counsel; and AP Services, LLC, as financialadvisor. Epiq Bankruptcy Solutions LLC serves as the claims andnoticing agent.NEPHROS INC: Files 5 Million Shares Prospectus with SEC-------------------------------------------------------Nephros, Inc., filed with the U.S. Securities and ExchangeCommission a Form S-1 registration statement relating to thedistribution, at no charge, to holders of its common stock of upto 5,000,000 Shares of common stock issuable Upon the exercise ofnon-transferable rights to subscribe for those Shares.The Company will not issue any fractional shares. Instead theCompany will round up any fractional shares to the nearest wholeshare.Shares of the Company's common stock are quoted on the OTCQBMarketplace operated by the OTC Markets Group, Inc., or OTCQB,under the ticker symbol "NEPH." The shares of common stock issuedin the rights offering will also be quoted on the OTCQB under thesame ticker symbol. The subscription rights will not be listedfor trading on any stock exchange or market or quoted on theOTCQB.A copy of the Form S-1 prospectus is available for free at: http://is.gd/CuIWsp About NephrosRiver Edge, N.J.-based Nephros, Inc., is a commercial stagemedical device company that develops and sells high performanceliquid purification filters. Its filters, which it callsultrafilters, are primarily used in dialysis centers andhealthcare facilities for the production of ultrapure water andbicarbonate.Nephros, Inc., reported a net loss of $3.69 million in 2013following a net loss of $3.26 million in 2012.As of June 30, 2014, the Company had $2.35 million in totalassets, $2.13 million in total liabilities and $216,000 in totalstockholders' equity.Rothstein Kass, in Roseland, New Jersey, issued a "going concern"qualification on the consolidated financial statements for theyear ended Dec. 31, 2013. The independent auditors noted that theCompany has incurred negative cash flow from operations and netlosses since inception. These conditions, among others, raisesubstantial doubt about its ability to continue as a goingconcern.NEW BERN RIVERFRONT: Weaver Can't Appeal Interlocutory Orders-------------------------------------------------------------District Judge W. Earl Britt, denied Weaver Cooke Construction,LLC's motions for leave to appeal interlocutory orders issued byU.S. Bankruptcy Judge Stephani W. Humrickhouse in disputes relatedto the alleged defective construction of the SkySail LuxuryCondominiums located in New Bern, North Carolina.In March 2009, the project developer commenced an action againstWeaver Cooke, along with several other defendants, in Wake CountySuperior Court to recover for the alleged constructiondeficiencies. In November 2009, the developer filed for chapter 11bankruptcy in the U.S. Bankruptcy Court for the Eastern Districtof North Carolina. The state action was subsequently removed tothe U.S. District Court for the Eastern District of NorthCarolina, then transferred to the bankruptcy court.Weaver Cooke filed an answer and third-party complaint in May2010, but did not name any subcontractors as third-partydefendants. In June 2012, Weaver Cooke filed a second third-partycomplaint, this time naming Stock Building Supply, LLC; CurentonConcrete Works, Inc.; and Waterproof Specialties, Inc., amongothers, as third-party defendants, asserting claims of negligence,breach of express warranty, and contractual indemnity.Stock, Curenton, and WSI filed motions for summary judgment as toall three of Weaver Cooke's causes of action. In separate orders,the bankruptcy court granted Stock's, Curenton's, and WSI'smotions as to the negligence and breach of warranty claims basedon the statute of limitations, but it reserved ruling on thecontractual indemnity claims. Subsequently, the bankruptcy courtgranted Stock's motion for summary judgment on the contractualindemnity claims, dismissing Stock completely from the underlyingadversary proceeding in the bankruptcy court.A copy of the District Court's Oct. 16, 2014 Order is available athttp://is.gd/vgVzEwfrom Leagle.com. About New Bern RiverfrontCary, North Carolina-based New Bern Riverfront Development, LLC,is the developer of SkySail Condominium, consisting of 121residential condominiums (plus 1 commercial/non-residential unit)located on Middle Street on the waterfront in historic downtownNew Bern, North Carolina, and sells the SkySail Condominiums inthe ordinary course of business. New Bern Riverfront filed forChapter 11 bankruptcy protection (Bankr. E.D.N.C. Case No.09-10340) on Nov. 30, 2009. John A. Northen, Esq., at NorthenBlue, LLP, represents the Debtor. The Company disclosed$31,515,040 in assets and $25,676,781 in liabilities as of theChapter 11 filing.New Bern Riverfront has filed an Amended Plan of Reorganization,which represents a consensual plan negotiated with the Debtor'ssecured creditor, Wells Fargo Bank, N.A. The Debtor contemplatesselling properties.NEW LOUISIANA: Palm Terrace Debtors Win Final Okay on DIP Loan--------------------------------------------------------------The Hon. Robert Summerhays of the U.S. Bankruptcy Court for theWestern District of Louisiana issued a final order authorizingCHC-CLP Operator Holding, LLC, CHC-SPC Operator, Inc., SA-Lakeland, LLC, SA-Clewiston, LLC and SA-St. Petersburg, LLC --collectively, the "Palm Terrace" Debtors -- to obtain seniorsecured, postpetition financing from SA Mezz Holdings LLC.Judge Summerhays also authorized the "Palm Terrace" Debtors touse cash collateral securing their indebtedness owing to pre-bankruptcy lender Pacific Western Bank from Oct. 6, 2014, to Nov.28, 2014, pursuant to the budget.The "Palm Terrace" Debtors told the Court that they will use theproceeds of advances, subject to a cash collateral budget, solelyto pay: a) payroll and related expenses approved by lender in its reasonable discretion and by the Bankruptcy Court; b) deposits to utilities approved by lender in its reasonable discretion and by the Bankruptcy Court c) critical vendors approved by lender in its reasonable discretion and by the Bankruptcy Court; d) working capital reasonable and necessary for operation of the "Palm Terrace" Debtors' business and preservation and enhancement of the Collateral and meeting the "Palm Terrace" Debtors' obligations and responsibilities under Bankruptcy Court orders and contracts; e) amounts necessary to cure executory contracts assumed with the written consent of lender; f) with respect to final borrowing advances only, payment of the PacWest loan; g) the Carve-Out; h) principal, interest and fees on the DIP facility; i) payment of Bankruptcy fees; and j) subject to the limitations set forth in the agreement and the DIP facility Orders, expenses of the administration of the Chapter 11 Cases -- including the payment of professional fees and costs, and United States Trustee fees.Under the agreement, the "Palm Terrace" Debtors unconditionallypromised to pay the lender the DIP obligations, including theoutstanding principal amount of all advances, accrued andunpaid interest and fees thereon, costs and expenses, andbankruptcy fees as and when due. The lender will make advancesto borrowers up to: i) upon entry of the interim order: a) in the aggregate amount not to exceed $600,000; b) the additional amount as may be agreed to by the lender in writing; or c) the other sum as is approved by the Bankruptcy Court on an interim basis with the written consent of the lender; and ii) upon entry of the final order: a) in the aggregate amount not to exceed $2,400,000; b) such additional amount as may be agreed to by the lender in writing; or c) such other sum as is approved by the Bankruptcy Court with the written consent of the lender on a final basis.The agreement stated that the DIP facility is not a revolvingloan, and any advances made by lender will reduce the remainingamount available for interim borrowing advances and finalborrowing advances, as applicable, by the amount of suchadvances.As reported in the Troubled Company Reporter on Sept. 25, 2014,the final advances will be used to: a) supplement the Debtor's use of cash collateral and solely be used to pay payroll and related expenses, make critical vendor payments, fund working capital requirements and fund deposits to utilities; and b) pay in full all obligations due to Pacific Western Bank on account of any prepetition loans and other extension of credit under the certain revolving credit and security agreement as of Nov. 25, 2008 between the borrowers and Pacific Western, successor by merger to Capital Source Bank: i) in the aggregate amount not to exceed $2,400,000; ii) additional amount may be agreed to by the lender in writing; or iii) other sum as approved by the Court on an interim basis with the written consent of the lender.Pursuant to a prepetition credit agreement, PacWest agreed toprovide the Debtors with a revolving credit facility in a maximumprincipal amount at any time outstanding of up to $3,000,000.According to the TCR, as of the bankruptcy filing date, theDebtors were indebted to Pacific Western in the approximateaggregate principal amount of $2,028,985.Interest on the DIP facility will be payable in cash at the end ofeach month in arrears at 4.5% per annum. During the continuanceof an even of default, the interest rates applicable to alladvances under the DIP facility will be increased by 2% per annum,but such increased rate will not be considered compensation for orprevent the exercise by lender of any remedies.The lender's liens on the collateral and the lender'sadministrative claims provided for herein shall be subject to acarve-out in an amount not to exceed: i) fees and any fees payable to the clerk of the Bankruptcy Court that are due upon the occurrence of an event of default; ii) fees and expenses due to professionals employed by the "Palm Terrace" Debtors, for services rendered as Borrowers and Chapter 11 debtors in possession that are due upon the occurrence of an event of default in an amount not to exceed $100,000; and iii) fees and expenses to professionals employed by the Committee for services rendered while the "Palm Terrace" Debtors, are Chapter 11 debtors in possession that are due upon the occurrence of an event of default in an amount not to exceed $25,000.The Debtors said the lender will receive a fully perfectedsecurity interest in all prepetition and postpetition assets ofall the Debtors.A full-text copy of the DIP loan and security agreement isavailable for free at http://is.gd/TuL4l8A full-text copy of the cash collateral budget is available forfree at http://is.gd/mdHxx1 About New LouisianaNew Louisiana Holdings LLC, sought protection under Chapter 11 ofthe Bankruptcy Code (Bankr. W.D. La. Case No. 14-50756), onJune 25, 2014.Ten affiliates of New Louisiana -- Acadian 4005 Tenant, LLC (CaseNo. 14-50850), Atrium 6555 Tenant, LLC, dba The Atrium atLafreniere Assisted Living (Case No. 14-50851), Citiscape 5010Tenant, LLC, dba Citiscape Apartments (Case No. 14-50853),Lakewood Quarters Assisted 8585 Tenant, LLC (Case No. 14-50854),Lakewood Quarters Rehab 8225 Tenant, LLC (Case No. 14-50855),Panola 501 Partners, LP (Case No. 14-50862), Regency 14333 Tenant,LLC (Case No. 14-50861), Retirement Center 14686 Tenant, LLC (CaseNo. 14-50856), Sherwood 2828 Tenant, LLC (Case No. 14-50857), St.Charles 1539 Tenant, LLC (Case No. 14-50858) and Woodland Village5301 Tenant, LLC (Case No. 14-50859) filed Chapter 11 bankruptcypetitions on July 16, 2014.Fifteen additional affiliates of New Louisiana -- SA-PG Ocala LLC(Case No. 14-50909), SA-PG Operator Holdings LLC (Case No. 14-50912), SA-PG Clearwater LLC (Case No. 14-50913), SA-PGGainesville LLC (Case No. 14-50914), SA-PG Jacksonville LLC (CaseNo. 14-50915), SA-PG Largo LLC (Case No. 14-50916), SA-PG NorthMiami LLC (Case No. 14-50917), SA-PG Orlando LLC (Case No. 14-50918), SA-PG Pinellas LLC (Case No. 14-50919), SA-PG Port St.Lucie LLC (Case No. 14-50920), SA-PG Sun City Center LLC (Case No.14-50921), SA-PG Tampa LLC (Case No. 14-50922), SA-PG Vero BeachLLC (Case No. 14-50923), SA-PG West Palm Beach LLC (Case No. 14-50924) and SA-PG Winterhaven LLC (Case No. 14-50925) filedseparate Chapter 11 bankruptcy petitions on July 28, 2014.Four more affiliates of New Louisiana -- CHC-CLP Operator HoldingLLC (Case No. 14-51104), SA-St. Petersburg LLC (Case No. 14-51101), SA-Clewiston LLC (Case No. 14-51102) and SA-Lakeland LLC(Case No. 14-51103) -- that operate skilled nursing facilitieslocated in Lakeland, Clewiston and St. Peterburg, Florida, soughtprotection under Chapter 11 of the Bankruptcy Code on Sept. 3,2014.The Chapter 11 cases are jointly consolidated with New Louisiana'sChapter 11 case at Case No. 14-50756 before Judge RobertSummerhays of the United States Bankruptcy Court for the WesternDistrict of Louisiana (Lafayette).The Debtors are represented by Patrick J. Neligan, Jr., Esq., atNeligan Foley LLP, in Dallas, Texas.The U.S. Trustee for Region 5 on Oct. 3 appointed three creditorsof New Louisiana Holdings, LLC to serve on the official committeeof unsecured creditors.NEW LOUISIANA: Wants to Hire H. Kent Aguillard as Local Counsel---------------------------------------------------------------New Louisiana Holdings LLC asks the U.S. Bankruptcy Court for theWestern District of Louisiana for permission to employ H. KentAguillard, Esq., as its local counsel.Mr. Aguillard is expected to: a) provide, when requested, legal advice to the debtors-in- possession with respect to Debtors' powers and duties as debtors-in-possession in the continued operation of the Debtors' businesses, operation of the Debtors' properties; and b) perform certain legal services for the debtors-in-possession which may be necessary in these joined Chapter 11 cases: -- SA-St. Petersburg LLC dba Palm Terrace of St. Petersburg -- SA-Clewiston LLC dba Palm Terrace of Clewiston -- SA-Lakeland LLC dba Palm Terrace of Lakeland -- CHC-CLP Operator Holding LLC -- CHC-SPC Operator Inc.The Debtor says Mr. Aguillard will not, and does not, render anyadvice concerning taxation or tax related issues or matters.Mr. Aguillard charges the Debtor at his hourly rate at $350. TheDebtor adds he received a retainer of $20,000.The Debtor assures the Court the firm is a "disinterested person"within the meaning of Section 101(14) of the Bankruptcy Code.Mr. Aguillard can be reached at: H. Kent Aguillard, Esq. 141 S. 6th Street P. O. Drawer 391 Eunice, LA 70535 Tel: (337) 457-933 Fax: (337) 457-2917 Email: firstname.lastname@example.com About New LouisianaNew Louisiana Holdings LLC, sought protection under Chapter 11 ofthe Bankruptcy Code (Bankr. W.D. La. Case No. 14-50756), onJune 25, 2014.Ten affiliates of New Louisiana -- Acadian 4005 Tenant, LLC (CaseNo. 14-50850), Atrium 6555 Tenant, LLC, dba The Atrium atLafreniere Assisted Living (Case No. 14-50851), Citiscape 5010Tenant, LLC, dba Citiscape Apartments (Case No. 14-50853),Lakewood Quarters Assisted 8585 Tenant, LLC (Case No. 14-50854),Lakewood Quarters Rehab 8225 Tenant, LLC (Case No. 14-50855),Panola 501 Partners, LP (Case No. 14-50862), Regency 14333 Tenant,LLC (Case No. 14-50861), Retirement Center 14686 Tenant, LLC (CaseNo. 14-50856), Sherwood 2828 Tenant, LLC (Case No. 14-50857), St.Charles 1539 Tenant, LLC (Case No. 14-50858) and Woodland Village5301 Tenant, LLC (Case No. 14-50859) filed Chapter 11 bankruptcypetitions on July 16, 2014.Fifteen additional affiliates of New Louisiana -- SA-PG Ocala LLC(Case No. 14-50909), SA-PG Operator Holdings LLC (Case No. 14-50912), SA-PG Clearwater LLC (Case No. 14-50913), SA-PGGainesville LLC (Case No. 14-50914), SA-PG Jacksonville LLC (CaseNo. 14-50915), SA-PG Largo LLC (Case No. 14-50916), SA-PG NorthMiami LLC (Case No. 14-50917), SA-PG Orlando LLC (Case No. 14-50918), SA-PG Pinellas LLC (Case No. 14-50919), SA-PG Port St.Lucie LLC (Case No. 14-50920), SA-PG Sun City Center LLC (Case No.14-50921), SA-PG Tampa LLC (Case No. 14-50922), SA-PG Vero BeachLLC (Case No. 14-50923), SA-PG West Palm Beach LLC (Case No. 14-50924) and SA-PG Winterhaven LLC (Case No. 14-50925) filedseparate Chapter 11 bankruptcy petitions on July 28, 2014.Four more affiliates of New Louisiana -- CHC-CLP Operator HoldingLLC (Case No. 14-51104), SA-St. Petersburg LLC (Case No. 14-51101), SA-Clewiston LLC (Case No. 14-51102) and SA-Lakeland LLC(Case No. 14-51103) -- that operate skilled nursing facilitieslocated in Lakeland, Clewiston and St. Peterburg, Florida, soughtprotection under Chapter 11 of the Bankruptcy Code on Sept. 3,2014.The Chapter 11 cases are jointly consolidated with New Louisiana'sChapter 11 case at Case No. 14-50756 before Judge RobertSummerhays of the United States Bankruptcy Court for the WesternDistrict of Louisiana (Lafayette).The Debtors are represented by Patrick J. Neligan, Jr., Esq., atNeligan Foley LLP, in Dallas, Texas.The U.S. Trustee for Region 5 on Oct. 3 appointed three creditorsof New Louisiana Holdings, LLC to serve on the official committeeof unsecured creditors.NEXT 1 INTERACTIVE: Incurs $1.8 Million Net Loss in Aug. 31 Qtr.----------------------------------------------------------------Next 1 Interactive, Inc., filed with the U.S. Securities andExchange Commission its quarterly report on Form 10-Q disclosing anet loss of $1.88 million on $406,345 of total revenues for thethree months ended Aug. 31, 2014, compared to a net loss of$5.37 million on $383,851 of total revenues for the same period in2013.For the six months ended Aug. 31, 2014, the Company reported a netloss of $2.42 million on $751,302 of total revenues compared to anet loss of $6.78 million on $879,292 of total revenues for thesame period a year ago.The Company's balance sheet at Aug. 31, 2014, showed $4.43 millionin total assets, $13 million in total liabilities and a $8.56million total stockholders' deficit.At Aug. 31, 2014, the Company had $72,977 cash on-hand, a decreaseof $44,841 from $117,818 at the start of fiscal 2015. Thedecrease in cash was due primarily to operating expenses andadvances to affiliates.A copy of the Form 10-Q is available for free at: http://is.gd/8lBgQm About Next 1 InteractiveWeston, Fla.-based Next 1 Interactive, Inc., is the parent companyof RRTV Network (formerly Resort & Residence TV), Next Trip -- itstravel division, and Next One Realty -- its real estate division.The Company is positioning itself to emerge as a multi revenuestream "Next Generation" media-company, representing theconvergence of TV, mobile devices and the Internet by providingmultiple platform dynamics for interactivity on TV, Video OnDemand (VOD) and web solutions. The Company has worked withmultiple distributors beta testing its platforms as part of itsroll out of TV programming and VOD Networks. The list of multi-system operators the Company has worked with includes Comcast,Cox, Time Warner and Direct TV. At present the Company operatesthe Home Tour Network through its minority owned/joint venturereal estate partner -- RealBiz Media. As of July 17, 2012, theHome Tour Network features over 4,300 home listings in four citieson the Cox Communications network.The Company incurred a net loss of $18.29 million on $1.56 millionof total revenues for the year ended Feb. 28, 2014, as comparedwith a net loss of $4.23 million on $987,115 of total revenues forthe year ended Feb. 28, 2013.D'Arelli Pruzansky, P.A., in Boca Raton, Florida, issued a "goingconcern" qualification on the consolidated financial statementsfor the year ended Feb. 28, 2014. The independent auditors notedthat the Company has incurred net losses of $18,295,802 and netcash used in operations of $4,590,428 for the year ended Feb. 28,2014, and the Company had an accumulated deficit of $87,625,076and a working capital deficit of $13,549,796 at Feb. 28, 2014.These conditions raise substantial doubt about the Company'sability to continue as a going concern. Bankruptcy Warning"If we continue to experience liquidity issues and are unable togenerate revenue, we may be unable to repay our outstanding debtwhen due and may be forced to seek protection under the federalbankruptcy laws," the Company said in its fiscal 2013 AnnualReport.OCWEN FINANCIAL: Moody's Lowers Corporate Family Rating to B2-------------------------------------------------------------Moody's Investors Service has downgraded the following ratings;all ratings remain on review for possible downgrade:Ocwen Financial Corporation (Ocwen) Corporate Family Rating downgraded to B2 from B1 Senior Secured Bank Credit Facility downgraded to B2 from B1 Senior Unsecured Debt downgraded to B3 from B2Altisource Solutions S.a.r.l. (Altisource) Corporate Family Rating downgraded to B2 from B1 Senior Secured Bank Credit Facility downgraded to B2 from B1Home Loan Servicing Solutions Ltd (HLSS) Corporate Family Rating downgraded to B2 from Ba3 Senior Secured Bank Credit Facility downgraded to B2 from Ba3Ratings RationaleThe rating actions follow the New York Department of FinancialServices' (DFS) allegations, set forth in a letter to Ocwen,raising serious issues with Ocwen's servicing systems andprocesses. These allegations raise the risk of actions thatrestrict Ocwen's activities, the levying of monetary fines againstOcwen, or additional actions that negatively affect Ocwen's creditstrength. In addition, the continued regulatory scrutiny furtherdamages Ocwen's franchise position.HLSS and Altisource's ratings are driven in large part by theirreliance on Ocwen whereby any changes to Ocwen's ratings wouldlikely result in changes to their ratings. The two notch downgradeof HLSS rating to the same level as Ocwen is due to theexpectation that HLSS' will accelerate its diversification intoother asset classes beyond non-prime servicing assets such as non-performing loans which have a higher risk profile along with theincreased possibility that the servicing contracts could beterminated without compensation. While HLSS has contractualprotections in its agreements with Ocwen, there is no guaranteethat HLSS will be able to successfully assert its rights,including its right to full indemnification, thereunder.On October 21, 2014, the DFS issued a letter to Ocwen that allegesmaterial deficiencies with Ocwen's servicing systems andprocesses, including Ocwen's backdating of an unknown number ofletters to borrowers. In addition, the letter questions Ocwen'sability to properly service loans, alleging that Ocwen has notresolved the issues nearly a year after its initial discovery, aswell as failing to devote the proper urgency to the problem.The latest letter follows the August 4, 2014 letter from the DFSto Ocwen raising concerns about potential conflicts of interestand potentially inconsistent statements and representationsregarding corporate governance. In addition, in August 2014, Ocwenand HLSS restated their financial statements for several periods.During the review, Moody's will assess (1) the impact of theregulatory scrutiny and possible regulatory actions on thefinancial strength and franchise position of all three companiesand (2) the long-term impact of an eventual shift in thecompanies' business models, possibly to areas with even greateroperating risk, that may be accelerated as a result of regulatoryaction.Ocwen's ratings could be downgraded further in the event thatregulatory action materially restricts the company's businessactivities, management or governance, or further harms itsfranchise and reputation. In addition, the ratings could bedowngraded if (a) its business model is expected to shift to areaswith even greater operating risk, or (b) if the company'sservicing performance or financial fundamentals weaken.In the event that Ocwen's ratings are downgraded, the ratings ofHLSS and Altisource would likely also be downgraded. In addition,negative ratings pressure on HLSS' ratings could result if thecompany's financial fundamentals weaken, with particular focus on:a) adequate funding availability and b) financial leverage. Inaddition, negative ratings pressure on Altisource's ratings couldresult if it loses its contract with Ocwen or if the company'sfinancial metrics materially deteriorate for an extended period oftime.Given the review for possible downgrade, an upgrade to Ocwen,HLSS, or Altisource's ratings are unlikely at this time.The principal methodology used in this rating was Finance CompanyGlobal Rating Methodology published in March 2012.OCWEN FINANCIAL: S&P Lowers Issuer Credit Rating to 'B'-------------------------------------------------------Standard & Poor's Ratings Services lowered its long-term issuercredit rating to 'B' from 'B+' on OCWEN Financial Corp. Theoutlook is negative. In addition, S&P lowered its ratings to 'B'from 'B+' on OCWEN's senior secured debt and to 'B-' from 'B' onits senior unsecured debt."The rating action reflects our view of increasing regulatoryscrutiny over the company's servicing practices and today'sannouncement that the company erroneously dated correspondence tosome borrowers who were facing foreclosure," said Standard &Poor's credit analyst Stephen Lynch. "We believe the culminationof events and ongoing investigations will limit the company'sability to acquire servicing assets," Mr. Lynch added.PACIFIC GOLD: OKs Assignment of $37,500 Outstanding Notes---------------------------------------------------------Pacific Gold Corp. agreed to the assignment of $20,000, inprincipal amount of outstanding notes, according to a regulatoryfiling with the U.S. Securities and Exchange Commission. Theassignment was to a third party that is not affiliated with theCompany.In connection with the assignment, the Company agreed to variousmodifications of the note for the benefit of the new holder, whichenhance and reset the conversion features of the note and changecertain other basic terms of the note. As a result of theamendments, the note now (i) has a conversion rate of a 50%discount to the lowest daily VWAP price of the common stock basedon the ten day period prior to the date of conversion, which ratewill be subject to certain adjustments, (ii) is interest free,(iii) has a new maturity date of June 25, 2015, and (iv) hasadditional default provisions, including a default penalty of 50%of outstanding principal and interest at the time of default. Theassigned portion of the principal note had a conversion rate at anapproximate 50% discount to market and was converted into400,000,000 shares of common stock of the Company.On Oct. 16, 2014, Pacific Gold also agreed to the assignment of$17,500, in principal amount of outstanding notes. The assignmentwas to a third party that is not affiliated with the Company. Inconnection with the assignment, the Company agreed to variousmodifications of the note for the benefit of the new holder, whichenhance and reset the conversion features of the note and changecertain other basic terms of the note. The assigned portion ofthe principal note had a conversion rate at an approximate 50%discount to market and was converted into 350,000,000 shares ofcommon stock of the Company. About Pacific GoldLas Vegas, Nev.-based Pacific Gold Corp. is engaged in theidentification, acquisition, and development of prospects believedto have gold mineralization. Pacific Gold through itssubsidiaries currently owns claims, property and leases in Nevadaand Colorado.Pacific Gold reported a net loss of $463,422 in 2013 following anet loss of $16.62 million in 2012.As of June 30, 2014, the Company had $1.09 million in totalassets, $3.80 million in total liabilities and a $2.71 milliontotal stockholders' deficit.Silberstein Ungar, PLLC, issued a "going concern" qualification onthe consolidated financial statements for the year ended Dec. 31,2013. The independent auditors noted that the Company hasincurred losses from operations, has negative working capital, andis in need of additional capital to grow its operations so that itcan become profitable. These factors raise substantial doubtabout the Company's ability to continue as a going concern.PARTS HUB: Case Summary & 7 Unsecured Creditors-----------------------------------------------Debtor: Parts Hub, Inc. dba R & R Mobile, Inc., d/b/a ProTech Chip Performance fka Omnicore Automotive Solutions, Inc., 128 Rolling Meadow Drive Holliston, MA 01746Case No.: 14-42297Chapter 11 Petition Date: October 21, 2014Court: United States Bankruptcy Court District of Massachusetts (Worcester)Judge: Hon. Melvin S. HoffmanDebtor's Counsel: Jordan L. Shapiro, Esq. SHAPIRO & HENDER 105 Salem Street Malden, MA 02148 Tel: (781) 324-5200 Fax: (781) 322 4712 Email: email@example.com Assets: $0 to $50,000Estimated Liabilities: $1 million to $10 millionThe petition was signed by Stuart C. Reid, president andsecretary.A list of the Debtor's seven largest unsecured creditors isavailable for free at http://bankrupt.com/misc/mab14-42297.pdfPSL-NORTH AMERICA: Seeks Extension of Plan Filing Date------------------------------------------------------Bill Rochelle and Sherri Toub, bankruptcy columnists for BloombergNews, reported that PSL - North America LLC, once a producer oflarge-diameter pipe for the water and gas-transmission industries,asks the U.S. Bankruptcy Court in Wilmington, Del., to extenduntil Jan. 12, 2015, its exclusive plan filing period, saying itneeds more time to analyze the best wind-down path.According to the report, PSL intends to file a liquidating Chapter11 plan in the "near future" following the $100 million sale inAugust of its business to India's Jindal Tubular USA LLC. About PSL-North AmericaFounded in 2006, PSL-North America LLC is a manufacturer andcoater of large diameter steel pipes. The company has a state-of-the-art facility located in Bay St. Louis, Mississippi, with theland leased for 99 years. The company is an American-basedpartially owned subsidiary of India's largest producer andmanufacturer of steel piping, PSL Limited.On June 16, 2014, PSL-North America LLC and PSL USA Inc., filedvoluntary petitions in Delaware (Lead Case No. 14-11477) seekingrelief under chapter 11 of the United States Bankruptcy Code. TheDebtors' cases have been assigned to Judge Peter J. Walsh.The Debtors seek to have their cases jointly administeredfor procedural purposes.PSL-North America LL disclosed $93,343,085 in assets and$204,025,409 in liabilities as of the Chapter 11 filing. As ofthe Petition Date, the company had total outstanding debtobligations of $130 million, according to a court filing.Proposed counsel for the Debtor are John H. Knight, Esq., Paul N.Heath, Esq., Tyler D. Semmelman, Esq., Amanda R. Steele, Esq. andWilliam A. Romanowicz, Esq. at Richards, Layton & Finger, P.A.of Wilmington, Delaware. Epiq Bankruptcy Solutions serves asclaims agent.PSM HOLDINGS: Reports $5.85-Mil. Net Loss for FY Ended June 30--------------------------------------------------------------PSM Holdings, Inc., filed with the U.S. Securities and ExchangeCommission its annual report on Form 10-K for the fiscal yearended June 30, 2014.Accounting & Consulting Group, LLP, expressed substantial doubtabout the Company's ability to continue as a going concern, citingthat the Company will not be able to pay the preferred dividendsdue Oct. 15, 2014, is unable to remain current with certainexpenses of the Company, and the operating company is experiencingsignificant industry and operational risks, including sustainedoperating losses.The Company reported a net loss of $5.85 million on $12.54 millionof total revenue for the fiscal year ended June 30, 2014, comparedwith a net loss of $1.8 million on $21.87 million of total revenuein the prior year.The Company's balance sheet at June 30, 2014, showed $21.7 millionin total assets, $16.83 million in total liabilities andstockholders' equity of $4.83 million.A copy of the Form 10-K is available at: http://is.gd/G0dGQpPSM Holdings, Inc., originates mortgage loans funded eitherdirectly off its warehouse lines of credit or through brokeringtransactions to other third parties. The Oklahoma City-basedCompany has retail offices located across the United States,deriving revenues from the loan origination volume from thoseoffices.RADNOR HOLDINGS: Suit v. Skadden, Tennenbaum Are Core Proceedings-----------------------------------------------------------------Bankruptcy Judge Peter J. Walsh ruled that the lawsuit filed byRadnor Holdings Corporation and certain entities against SkaddenArps Meager & Flom LLP, Tennenbaum Capital Partners, LLC, andSpecial Value Opportunities Fund, LLC, among other defendants,contain causes of action that are core proceedings.The Complaint is 327 paragraphs long and covers 10 separatecounts. These counts are: breach of fiduciary duties, fraud,conspiracy to commit fraud, malpractice, perjury, unjustenrichment, obstruction of justice, breach of contract, tortuousinterference, and theft by deception.According to the Complaint, "this cause of action arises fromfalse testimony, misrepresentation, non-disclosure, willfulmisconduct, gross negligence and deception committed by Defendantsindividually and in concert with each other and before theHonorable Peter J. Walsh for the United States Bankruptcy Courtfor the District of Delaware (the "Bankruptcy Court") to thedetriment of Radnor and Kennedy."The case is, RADNOR HOLDINGS CORPORATION, MICHAEL T. KENNEDY, MTKTRUST FBO RYAN KENNEDY, MTK TRUST FBO SEAN M. KENNEDY, MTK TRUSTFBO MICHAELA C. KENNEDY, MTK TRUST FBO CONOR R. KENNEDY, Chapter11, Plaintiffs, v. SKADDEN ARPS MEAGER & FLOM LLP; SK PRIVATEINVESTMENT FUND 1998 LLC; RICHARD T. PRINS, ESQUIRE; GREGG M.GALARDI, ESQUIRE; TENNENBAUM & CO LLC; TENNENBAUM CAPITALPARTNERS, LLC; BABSON & CO. LLC; SPECIAL VALUE EXPANSION FUND,LLC; SPECIAL VALUE OPPORTUNITIES FUND, LLC; MICHAEL E. TENNENBAUM;SUZANNE S. TENNENBAUM; DAVID A. HOLLANDER; MARK K. HOLDSWORTH;HOWARD M. LEVKOWITZ; RICHARD E. SPENCER; JOSE FELICIANO; ALVAREZ &MARSAL, INC. and STANFORD M. SPRINGEL, Defendants, Adv. Proc. No.12-51308(PJW)(Bankr. D. Del.).A copy of the Court's October 14, 2014 Memorandum Opinion isavailable at http://is.gd/gOTdh4from Leagle.com. Russell C. Silberglied, Esq., and Cory D. Kandestin, Esq., atRICHARDS, LAYTON & FINGER, P.A., represent Tennenbaum CapitalPartners, LLC, Tennenbaum & Co., LLC, Special Value ExpansionFund, LLC, Special Value Opportunities Fund, LLC, Michael E.Tennenbaum, Suzanne S. Tennenbaum, David A. Hollander, Mark K.Holdsworth, and Howard M. Levkowitz. About Radnor HoldingsBased in Radnor, Pennsylvania, Radnor Holdings Corporation-- http://www.radnorholdings.com/-- manufactured and distributed a broad line of disposable food service products inthe United States, and specialty chemicals worldwide. The Debtorand its affiliates filed for chapter 11 protection on August 21,2006 (Bankr. D. Del. Lead Case No. 06-10894). Gregg M. Galardi,Esq., and Sarah E. Pierce, Esq., at Skadden, Arps, Slate, Meagher&Flom, LLP, in Wilmington, Del.; and Timothy R. Pohl, Esq.,Patrick J. Nash, Jr., Esq., and Rena M. Samole, Esq., at Skadden,Arps, Slate, Meagher &Flom, LLP, in Chicago, Ill., serve as theDebtors' bankruptcy counsel. When the Debtors filed forprotection from their creditors, they disclosed total assets of$361,454,000 and total debts of $325,300,000.RESIDENTIAL CAPITAL: Judge Bars 'Scurrilous' Filings by Creditor----------------------------------------------------------------Bill Rochelle and Sherri Toub, bankruptcy columnists for BloombergNews, reported that U.S. Bankruptcy Judge Martin Glenn summarilydenied a motion for rehearing filed by a Residential Capital LLCcreditor who called himself "state sovereign national."The report recalled that in September, Judge Glenn threw out everyclaim made by the creditor and placed some of the man's courtfilings under seal because they contained ?outrageous invectivecompletely unrelated to the ResCap bankruptcy.? The filed amotion for rehearing, the report said. Short of imposingsanctions, Judge Glenn directed the court clerk to reject any morepleadings the erstwhile creditor tries to file, the reportrelated. About Residential CapitalResidential Capital LLC, the unprofitable mortgage subsidiary ofAlly Financial Inc., filed for bankruptcy protection (Bankr.S.D.N.Y. Lead Case No. 12-12020) on May 14, 2012.Neither Ally Financial nor Ally Bank is included in the bankruptcyfilings.ResCap, one of the country's largest mortgage originators andservicers, was sent to Chapter 11 with 50 subsidiaries amid"continuing industry challenges, rising litigation costs andclaims, and regulatory uncertainty," according to a companystatement.ResCap disclosed $15.68 billion in assets and $15.28 billion inliabilities at March 31, 2012.Centerview Partners LLC and FTI Consulting are acting as financialadvisers to ResCap. Morrison & Foerster LLP is acting as legaladviser to ResCap. Curtis, Mallet-Prevost, Colt & Mosle LLP isthe conflicts counsel. Rubenstein Associates, Inc., is the publicrelations consultants to the Company in the Chapter 11 case.Morrison Cohen LLP is advising ResCap's independent directors.Kurtzman Carson Consultants LLP is the claims and notice agent.Ray C. Schrock, Esq., at Kirkland & Ellis LLP, in New York, servesas counsel to Ally Financial.ResCap sold most of the businesses for a combined $4.5 billion.The Bankruptcy Court in November 2012 approved ResCap's sale ofits mortgage servicing and origination platform assets to OcwenLoan Servicing, LLC and Walter Investment Management Corporationfor $3 billion; and its portfolio of roughly 50,000 whole loans toBerkshire Hathaway for $1.5 billion.Judge Martin Glenn in December 2013 confirmed the Joint Chapter 11Plan co-proposed by Residential Capital and the Official Committeeof Unsecured Creditors.RESIDENTIAL CAPITAL: Court Expunges Long Beach Claim----------------------------------------------------Suzanne Koegler and Edward Tobias filed claim number 1466 againstDebtor GMAC Mortgage, LLC, asserting a general unsecured claim inthe amount of $1,000,000. The Claim stems from alleged damagecaused by Hurricane Sandy to real property located at 93 WisconsinStreet, Long Beach, NY 11561. The Claimants assert that GMACM (1)manipulated the national housing market, which resulted in a losson the Long Beach Property, and (2) failed to adequatelycompensate Claimants for Hurricane Sandy-related damages.In a previous Memorandum Opinion and Order Sustaining Objection toClaim No. 1467 of Suzanne Koegler and Edward Tobias, BankruptcyJudge Martin Glenn has already ruled on, sustained, and expungedclaim number 1467 filed by Claimants with an identical statedbasis, which claim related to real property located at 75Princeton Oval, Freehold, NJ 07728.The Claimants now seek damages related to an entirely differentproperty, but the Long Beach Claim suffers from the sameinfirmities as the now-expunged Freehold Claim.In a Memorandum Opinion and Order dated Oct. 20, available athttp://is.gd/rKynWLfrom Leagle.com, the Court held that the Claimants fail to adequately state a claim against GMACM. Forthat reason, the Objection is sustained and the Long Beach Claimis expunged. About Residential CapitalResidential Capital LLC, the unprofitable mortgage subsidiary ofAlly Financial Inc., filed for bankruptcy protection (Bankr.S.D.N.Y. Lead Case No. 12-12020) on May 14, 2012.Neither Ally Financial nor Ally Bank is included in the bankruptcyfilings.ResCap, one of the country's largest mortgage originators andservicers, was sent to Chapter 11 with 50 subsidiaries amid"continuing industry challenges, rising litigation costs andclaims, and regulatory uncertainty," according to a companystatement.ResCap disclosed $15.68 billion in assets and $15.28 billion inliabilities at March 31, 2012.Centerview Partners LLC and FTI Consulting are acting as financialadvisers to ResCap. Morrison & Foerster LLP is acting as legaladviser to ResCap. Curtis, Mallet-Prevost, Colt & Mosle LLP isthe conflicts counsel. Rubenstein Associates, Inc., is the publicrelations consultants to the Company in the Chapter 11 case.Morrison Cohen LLP is advising ResCap's independent directors.Kurtzman Carson Consultants LLP is the claims and notice agent.Ray C. Schrock, Esq., at Kirkland & Ellis LLP, in New York, servesas counsel to Ally Financial.ResCap sold most of the businesses for a combined $4.5 billion.The Bankruptcy Court in November 2012 approved ResCap's sale ofits mortgage servicing and origination platform assets to OcwenLoan Servicing, LLC and Walter Investment Management Corporationfor $3 billion; and its portfolio of roughly 50,000 whole loans toBerkshire Hathaway for $1.5 billion.Judge Martin Glenn in December 2013 confirmed the Joint Chapter 11Plan co-proposed by Residential Capital and the Official Committeeof Unsecured Creditors.RETAIL PROPERTIES: S&P Assigns 'BB' Rating on Series A Pref. Stock------------------------------------------------------------------Standard & Poor's Ratings Services assigned its 'BBB-' corporatecredit rating to U.S.-based real estate investment trust companyRetail Properties of America Inc. (RPAI). The rating outlook isstable. S&P also assigned a 'BB' issue-level rating to RPAI's 7%series A preferred stock."The rating on RPAI reflects our view of the company's measuredinvestment and operating strategy, and strengthening portfoliofundamentals," said Standard & Poor's credit analyst GeorgeSkoufis. Partly offsetting these credit strengths are the risksassociated with the company's capital recycling program, exposureto cyclical consumer and tenant demand, and the need to maintainsufficient sources of liquidity to fund the company's acquisitionspipeline."We view RPAI's business risk profile as "satisfactory". Ourrating incorporates the scale and diversity of RPAI's portfolioand the progress RPAI's management has made in implementing thecompany's repositioning strategy since its initial public offering(IPO) in April 2012. This strategy emphasizes consolidating itsgeographic footprint to 10 to 15 core markets of 3 million to 5million square feet, as well as reducing its exposure to noncoreassets. RPAI has made progress on its portfolio repositioningstrategy, disposing of roughly $1 billion of assets since the endof 2011, although we note the track record is limited. Whilemanagement has made significant inroads, there remains a largerepositioning task ahead of them to achieve its targeted portfolio(quality and footprint). Indeed, RPAI's competitive position isweighed down by the meaningful execution risk associated with thisrepositioning strategy. Nevertheless, we view RPAI's strategy ascredible and fundamentals should remain supportive of itsrepositioning strategy, at least over the next one to two years,and expect it to result in a simpler operating and investmentstrategy as well as incrementally stronger asset quality overtime," S&P said.The stable outlook reflects S&P's view that RPAI will maintaincredit metrics consistent with an "intermediate" financial riskprofile while executing the company's repositioning strategy.This includes strategies such as asset recycling that allow thegroup to pursue its investment objectives while limiting pressureon its balance sheet. Over the longer term, S&P expects that theasset quality of RPAI's portfolio fundamentals will improve as thegroup executes its repositioning strategy.A downward rating trend could result if RPAI adopts a more-aggressive growth strategy or its operating performance worsenssuch that it exhibits weaker-than-expected credit metrics. Thiswould be evidenced by debt to EBITDA of above 7x or fixed-chargecoverage of less than 2.1x.S&P is not likely to raise the rating in the next two years.However, S&P would consider an upgrade if the company exhibitssuccessful progress executing its asset recycling program and iscommitted to operating with more-conservative credit metrics.ROCK AIRPORT: Appeal Over MSA's Standing to File Plan Now Moot--------------------------------------------------------------District Judge Arthur J. Schwab for the Western District ofPennsylvania tossed the appeal taken by Rock Airport of PittsburghLLC from the bankruptcy court's order that allowed ManagementScience Associates Inc. to file a plan of reorganization for theDebtor.Rock Airport contends MSA did not have standing to file a plan.MSA counters that Rock Airport's appeal has been rendered moot bytwo subsequent Bankruptcy Court Orders, both entered on Sept. 16,2014, the first of which confirmed the Chapter 11 Trustee's planof liquidation, and the second which approved the sale of RockAirport's assets free and clear of all liens, claims, andencumbrances.Rock Airport and MSA filed competing Chapter 11 Plans in the case.MSA acquired the claim of "Priscilla Grdn Living Trust" andthereby established standing to file its Plan. Rock Airportobjected to MSA's standing."It is clear to this Court that the Bankruptcy Court had threereorganization plans to choose from: the Trustee's Plan, RockAirport's Plan, and MSA's Plan. The Bankruptcy Court chose theTrustee's plan, and upon executing that Plan, sold Rock Airport'sassets for nine million dollars. The Court finds that the sale ofthe assets (including the real property) and the Court's decisionto implement the Trustee's Plan, not MSA's Plan, renders thisappeal filed by Rock Airport moot," the District Judge said.The district court case is, ROCK AIRPORT OF PITTSBURGH, LLC,Appellant, v. MANAGEMENT SCIENCE ASSOCIATES, INC., Chapter 11,Appellees, No. 14cv1195 (W.D. Pa.).A copy of the District Court's October 16, 2014 Memorandum Opinionis available at http://is.gd/q93OC9from Leagle.com Rock Airport of Pittsburgh, LLC, based in Pittsburgh,Pennsylvania, filed for Chapter 11 bankruptcy (Bankr. W.D. Pa.Case No. 09-23155) on April 30, 2009. Robert O. Lampl, Esq.,serves as Rock Airport's counsel. In its petition, Rock Airportestimated $1 million to $10 million in both assets and debts. Afull-text copy of the petition, including the Debtor's list of 16largest unsecured creditors, is available for free athttp://bankrupt.com/misc/pawb09-23155.pdfThe petition was signed by Rock Ferrone, president of the Company.Its affiliate, Pittsburgh-based RPP LLC, filed for Chapter 11bankruptcy (Bankr. W.D. Pa. Case No. 13-20868) on Feb. 28, 2013,disclosing $6,710,000 in assets and $6,200,000 in liabilities.Elliott J. Schuchardt, Esq., at Schuchardt Law Firm, serves asRPP's counsel. The petition was signed by Rock Ferrone, managingmember.ROCK AIRPORT: Loses Appeal Over MSA Claim Dispute-------------------------------------------------District Judge Arthur J. Schwab dismissed the appeal by RockAirport of Pittsburgh, LLC, from the Bankruptcy Court's Orderdated August 8, 2014.Rock Airport contends that the Bankruptcy Court erred inoverruling its Objection to the claim of Management ScienceAssociates, Inc. purchased. Rock Airport contends that MSA didnot establish the merits of its claim by a preponderance of theevidence.MSA disagrees with Rock Airport, and counters that: (1) thisAppeal is now moot due to subsequent developments that transpiredin September through the Bankruptcy Court proceedings; and (2)even if the District Court were to consider the substantivearguments raised by Rock Airport in this Appeal, the Court wouldhave to conclude that the findings of the Bankruptcy Court werenot clearly erroneous, but to the contrary, were well supported bythe record.A copy of the District Court's Oct. 16 Memorandum Opinionavailable at http://is.gd/P4Hl7lfrom Leagle.com. Rock Airport of Pittsburgh, LLC, based in Pittsburgh,Pennsylvania, filed for Chapter 11 bankruptcy (Bankr. W.D. Pa.Case No. 09-23155) on April 30, 2009. Robert O. Lampl, Esq.,serves as Rock Airport's counsel. In its petition, Rock Airportestimated $1 million to $10 million in both assets and debts. Afull-text copy of the petition, including the Debtor's list of 16largest unsecured creditors, is available for free athttp://bankrupt.com/misc/pawb09-23155.pdfThe petition was signed by Rock Ferrone, president of the Company.Its affiliate, Pittsburgh-based RPP LLC, filed for Chapter 11bankruptcy (Bankr. W.D. Pa. Case No. 13-20868) on Feb. 28, 2013,disclosing $6,710,000 in assets and $6,200,000 in liabilities.Elliott J. Schuchardt, Esq., at Schuchardt Law Firm, serves asRPP's counsel. The petition was signed by Rock Ferrone, managingmember.SAM ADAMS: Faces Eviction, Has Until Oct. 24 to Pay Landlord------------------------------------------------------------Tracy Record, West Seattle Blog editor, reports that Sam Adams hasuntil Oct. 24, 2014, to pay $1.1 million in payments to landlordJohn Pietromonaco, to hold off eviction.A "loan contract already executed by [Adams's company] HollystoneHoldings" was going to provide that money, according to courtorders stipulating the Oct. 24 deadline.West Seattle Blog says it received a forwarded e-mail of a clubemployee to some club instructors saying that an ownership changeis imminent as of next weekend.As reported by the Troubled Company Reporter on July 15, 2014,Connie Thompson, writing for Komo News, reported that formerSeattle Seahawk Sam Adams and his wife filed for Chapter 11bankruptcy on June 28, 2014, in the midst of legal actionsurrounding his athletic club, West Seattle Fitness. Mr. Adams isrepresented by Lawrence Engel, Esq., as bankruptcy counsel.SAN BERNARDINO, CA: Police Want Deadline for Filing a Plan----------------------------------------------------------Bill Rochelle and Sherri Toub, bankruptcy columnists for BloombergNews, reported that the union representing police officers in SanBernardino, California, wants the judge handling the city'sChapter 9 case to establish a deadline for the city to file aplan. According to the report, San Bernardino had negotiated atentative agreement with the police officers' union, but the unionsaid the city revoked the agreement. About San Bernardino, Calif.San Bernardino, California, filed an emergency petition formunicipal bankruptcy under Chapter 9 of the U.S. Bankruptcy Code(Bankr. C.D. Cal. Case No. 12-28006) on Aug. 1, 2012. SanBernardino, a city of about 210,000 residents roughly 65 miles(104 km) east of Los Angeles, estimated assets and debts of morethan $1 billion in the bare-bones bankruptcy petition.The city council voted on July 10, 2012, to file for bankruptcy.The move lets San Bernardino bypass state-required mediation withcreditors and proceed directly to U.S. Bankruptcy Court.The city is represented that Paul R. Glassman, Esq., at StradlingYocca Carlson & Rauth.San Bernardino joined two other California cities in bankruptcy:Stockton, an agricultural center of 292,000 east of San Francisco,and Mammoth Lakes, a mountain resort town of 8,200 south ofYosemite National Park.The City was granted Chapter 9 protection on Aug. 28, 2013.SCHWAB INDUSTRIES: Trust's Suit Against SS&G Parkland May Proceed-----------------------------------------------------------------Bankruptcy Judge Russ Kendig in Ohio ruled that the creditor trustestablished pursuant to the confirmed liquidation plan of SchwabIndustries, Inc., and its affiliated debtor-entities may havevalid claims against Laurence V. Goddard and The Parkland Group,Inc. with respect to their role as restructuring advisors in thesale of certain assets to OldCastle Materials, Inc. and ResourceLand Holdings, LLC.John B. Pidcock, as Creditor Trustee, filed the adversarycomplaint against the Defendants on April 11, 2014. He allegesthat the Defendants worked on behalf of the Schwabs to thedetriment of the estate in securing a nearly $8,000,000 earn-outfrom OldCastle. The counts against the Defendants include breachof fiduciary duties owed to the bankruptcy estates, aiding andabetting the Schwabs in the breach of their fiduciary duties, anddisgorgement of fees. The Trust alleges that SS&G ParklandConsulting, LLC, is the successor to Parkland, which SS&G denies.The Court ruled that: -- the Creditor Trust has standing to bring claims againstthe Defendants; -- the claims were not sold to OldCastle but were retained byDebtors and transferred to the Creditor Trust through theconfirmed liquidation plan; -- the Trust's contention that the Defendants breached theirfiduciary duties is not barred by application of res judicatabased on the court-approved fee applications for the Defendants; -- the sale order does not bar the claims; -- the exculpation bars only certain claims; and -- the allegations in the complaint, when taken in the lightmost favorable to the Trust, suggest the Defendants acted in a waywhich may subject them to liability.The Court further held that count two of the complaint will bedismissed. There is no indication that Ohio allows a tort foraiding and abetting. The Trust also appears to have abandoned anyeffort to save this claim.The case is, JOHN B. PIDCOCK, AS CREDITOR TRUSTEE, Plaintiff, v.LAURENCE V. GODDARD, et al., Defendants, Adv. Proc. No. 14-6016(Bankr. N.D. Ohio). A copy of the Court's October 17, 2014Memorandum of Opinion is available at http://is.gd/Lud2kqfrom Leagle.com. About Schwab IndustriesDover, Ohio-based Schwab Industries, Inc., produced, supplied anddistributed ready-mix concrete, concrete block, cement and relatedsupplies to commercial, governmental and residential contractorsthroughout Northeast Ohio and Southwest Florida.The Company filed for Chapter 11 bankruptcy protection (Bankr.N.D. Ohio Case No. 10-60702) on Feb. 28, 2010. Affiliates MedinaCartage Co.; Medina Supply Company; Quality Block & Supply, Inc.;O.I.S. Tire, Inc.; Twin Cities Concrete Company; Schwab Ready-Mix,Inc.; Schwab Materials, Inc.; and Eastern Cement Corp. also soughtbankruptcy protection. The Parkland Group, Inc., providedrestructuring services and designated Laurence V. Goddard as ChiefRestructuring Officer. Hahn Loeser & Parks LLP served asbankruptcy counsel. Brouse McDowell, LPA, served as specialcounsel. Garden City Group, Inc., served as claims, noticing andballoting agent. The Company estimated its assets and liabilitiesat $50 million to $100 million.As part of the bankruptcy, substantially all of the Debtors'assets via auction. The Court entered a sale order on May 28,2010. Subsequently, the Court confirmed a liquidation plan.Through the sale and plan, a creditor trust was established forthe benefit of the unsecured creditors and John B. Pidcock wasdesignated Creditor Trustee. The Debtor was later renamed SIILiquidation Company.SEARS HOLDINGS: To Sell $625-Mil. 8% Senior Notes to Stockholders-----------------------------------------------------------------Sears Holdings Corporation's board of directors has approved arights offering allowing its stockholders to purchase up to $625million in aggregate principal amount of 8% senior unsecured notesdue 2019 and warrants to purchase shares of its common stock.This rights offering will generate up to an additional $625million in proceeds, if it is fully subscribed and closes asplanned, with the proceeds to be used for general corporatepurposes.Edward S. Lampert, chairman and chief executive officer of theCompany and Chairman and chief executive officer of ESLInvestments, Inc., and certain affiliated investment funds, haveadvised the Company that they intend to exercise their pro rataportion of the subscription rights in full, though they have notentered into any agreement to do so. Fairholme CapitalManagement, L.L.C., also has advised the Company that it expectsthat certain of its clients will participate in the rightsoffering at levels to be determined, subject to review of theterms and conditions of the rights offering and regulatoryconsiderations.The subscription rights will be distributed to all stockholders ofrecord of the Company, and every stockholder will have the rightto participate on the same terms in accordance with its pro rataownership of the Company's common stock, except that holders ofthe Company's restricted stock that is unvested as of the recorddate are expected to receive cash awards in lieu of subscriptionrights.In the rights offering, the Company anticipates that holders ofits common stock, other than holders of restricted stock that isunvested, will receive subscription rights on a pro rata basisbased on shares of common stock held at the close of business onOct. 30, 2014, the record date for the rights offering. Eachsubscription right will entitle the holder thereof to purchase, ata subscription price equal to the principal amount of each note,one unit, consisting of (a) a 8% senior unsecured note due 2019 ina principal to be determined and (b) a number of warrants equal tothat principal amount divided by the strike price for thewarrants, with each warrant entitling the holder thereof topurchase one share of the Company's common stock at a strike priceof $28.41, the closing market price on Oct. 17, 2014, the lasttrading day before the board approved the offering. The warrantswill be exercisable for a period of five years following theoffering. Upon the closing of the rights offering, the componentsof the units will immediately separate from one another such thatthe senior unsecured notes and warrants will constitute separatesecurities and will be transferable separately.The subscription rights will be transferable, subject toapplicable securities laws, and are expected to be listed andtraded on the NASDAQ. The senior unsecured notes will betransferable but will not be listed for trading on any exchange.The warrants will be transferable, and the Company intends toapply to list the warrants for trading on the NASDAQ. Holders ofsubscription rights who fully exercise all of their subscriptionrights may also make a request to purchase additional unitsthrough the exercise of an over-subscription privilege, althoughthe Company cannot assure investors that any over-subscriptionswill be filled.As soon as practicable after the record date, the Company expectsto distribute subscription rights to the holders of its commonstock as of the record date. However, the Company reserves theright to cancel or terminate the rights offering or amend theterms thereof. Sells 17.7 Million Shares to ESL PartnerSears Holdings Corporation, sold 17,741,508 common shares of SearsCanada Inc. to ESL Partners, L.P., and Edward S. Lampert, chairmanand chief executive officer of Sears Holdings and chairman andchief executive officer of ESL Investments, Inc., and relatedentities, pursuant to the previously announced rights offering toeffect the distribution of up to 40,000,000 common shares of SearsCanada. ESL exercised its pro rata portion of the subscriptionrights pursuant to the exercise of basic subscription rights.Accordingly, Holdings sold a total of 17,741,508 common shares ofSears Canada to ESL.Sears Holdings received aggregate proceeds from ESL in connectionwith the rights offering of approximately $169 million. Proceedsfrom the rights offering will provide additional liquidity toHoldings as it enters into the holiday period and will be used forgeneral corporate purposes.After the sale of Sears Canada shares to ESL, Holdings was thebeneficial holder of approximately 34 million shares, or 34% ofthe common shares of Sears Canada. As such, Holdings no longermaintains control of Sears Canada and will not continue toconsolidate Sears Canada.If additional subscription rights are exercised during the rightsoffering, which is scheduled to expire on Nov. 7, 2014, SearsHoldings could distribute up to an additional 22,258,492 shares ofSears Canada for additional consideration of approximately $211million. About SearsSears Holdings Corporation (NASDAQ: SHLD) --http://www.searsholdings.com/-- is an integrated retailer focused on seamlessly connecting the digital and physical shoppingexperiences to serve members. Sears Holdings is home to Shop YourWaytm, a social shopping platform offering members rewards forshopping at Sears and Kmart as well as with other retail partnersacross categories important to them.The company operates through its subsidiaries, including Sears,Roebuck and Co. and Kmart Corporation, with more than 2,000 full-line and specialty retail stores in the United States and Canada.Kmart Corporation and 37 of its U.S. subsidiaries filed voluntaryChapter 11 petitions (Bankr. N.D. Ill. Lead Case No. 02-02474) onJan. 22, 2002. Kmart emerged from chapter 11 protection on May 6,2003, pursuant to the terms of an Amended Joint Plan ofReorganization. Skadden, Arps, Slate, Meagher & Flom, LLP,represented Kmart in its restructuring efforts. Its balance sheetshowed $16,287,000,000 in assets and $10,348,000,000 in debts whenit sought chapter 11 protection.Kmart bought Sears, Roebuck & Co., for $11 billion to create thethird-largest U.S. retailer, behind Wal-Mart and Target, andgenerate $55 billion in annual revenues. Kmart completed itsmerger with Sears on March 24, 2005.Sears Holdings reported a net loss of $1.36 billion in 2013, a netloss of $930 million in 2012 and a net loss of $3.14 billion in2011. As of Aug. 2, 2014, Sears Holdings had $16.43 billion intotal assets, $15.51 billion in total liabilities and $919 millionin total equity. * * *Moody's Investors Service in January 2014 downgraded SearsHoldings Corporate Family Rating to Caa1 from B3. The ratingoutlook is stable.The downgrade reflects the accelerating negative performance ofSears' domestic business with comparable sales falling 7.4% forthe quarter to date ending January 6th, 2014 compared to the prioryear. The company now expects domestic Adjusted EBITDA to declineto a range of ($80 million) to $20 million for the fourth fiscalquarter, compared with $365 million in the year prior period. Forthe full year, Sears expects domestic Adjusted EBITDA loss between$(308) million and $(408) million, as compared to $557 millionlast year. Moody's expects full year cash burn (after capitalspending, interest and pension funding) to be around $1.2 billionin 2013 and we expect Sears' cash burn to remain well above $1billion in 2014. "Operating performance for fiscal 2013 ismeaningfully weaker than our previous expectations, and we expectnegative trends in performance to persist into 2014" said Moody'sVice President Scott Tuhy. He added "While Sears noted improvedengagement metrics for its "Shop Your Way" Rewards program,Moody's remains uncertain when these improved engagement metricswill lead to stabilization of operating performance."As reported by the TCR on March 26, 2014, Standard & Poor'sRatings Services affirmed its ratings on the Hoffman Estate, Ill.-based Sears Holdings Corp., including the 'CCC+' corporate creditrating.Fitch Ratings had downgraded its long-term Issuer Default Ratings(IDR) on Sears Holdings Corporation (Holdings) and its varioussubsidiary entities (collectively, Sears) to 'CC' from 'CCC',according to a TCR report dated Sept. 12, 2014.SEARS HOLDINGS: S&P Assigns Preliminary 'B-' Rating---------------------------------------------------Standard & Poor's Ratings Services assigned its preliminary 'B-'senior secured issue-level rating, preliminary 'CCC+' seniorunsecured issue-level rating, preliminary 'CCC-' subordinatedissue-level rating, and preliminary 'CCC-' preferred stock issue-level rating to Sears Holdings Corp.'s (CCC+/Negative/--) Rule 415shelf registration. The new shelf has an indeterminate aggregateinitial offering amount and number of debt securities. Thecompany may sell a combination of common stock, preferred stock,debt securities, warrants, stock purchase contracts, units, andsubscription rights. The company expects to use proceeds from thesales of the securities for general corporate purposes. Thepreliminary ratings are consistent with our issue-level ratings onSears Holdings Corp.'s senior secured and Sears Roebuck AcceptanceCorp.'s senior unsecured debt. Any final issue-level ratingswould ultimately depend on the securities' final terms andconditions and S&P's view of recovery prospects for the existingand shelf drawdown issues.Sears announced on Oct. 20, 2014, that its board of directors hadapproved a rights offering allowing shareholders to purchase up to$625 million of 8% senior unsecured notes due 2019. The noteswill be registered under the company's shelf registrationstatement. The potential raising of more cash is a positive forSears' liquidity prospects. Based on completed and announcedtransactions, S&P believes Sears could raise approximately $2billion of liquidity in 2014. However, S&P believes weakoperating performance will persist over at least the next severalquarters and a turnaround depends on the progress of itsintegrated retail strategy to reverse the substantial decline inprofitability and cash use. S&P's ratings on Sears also reflectits participation in the highly competitive department storesector, substantial negative cash flow per our forecast for 2014to 2015, and significant debt burden albeit with limited near-termmaturities and a track record of asset sales.RATINGS LISTSears Holdings Corp. Corporate Credit Rating CCC+/Negative/--New RatingsSears Holdings Corp. Senior Secured prelim B- Senior Unsecured prelim CCC+ Subordinated prelim CCC- Preferred stock prelim CCC-SEEGRID CORPORATION: Case Summary & 20 Top Unsecured Creditors--------------------------------------------------------------Debtor: Seegrid Corporation 216 RIDC Park West Drive Pittsburgh, PA 15275Case No.: 14-12391Chapter 11 Petition Date: October 21, 2014Court: United States Bankruptcy Court District of Delaware (Delaware)Judge: Hon. Brendan Linehan ShannonDebtor's Counsel: Daniel B. Butz, Esq. MORRIS, NICHOLS, ARSHT & TUNNELL LLP 1201 N. Market Street, 18th Floor Wilmington, DE 19801 Tel: 302-575-7348 Fax: 302-658-3989 Email: firstname.lastname@example.com - and - Robert J. Dehney, Esq. MORRIS, NICHOLS, ARSHT & TUNNELL LLP 1201 N. Market Street P O. Box 1347 Wilmington, DE 19899-1347 Tel: (302) 658-9200 Fax: (302) 658-3989 Email: email@example.com - and - Curtis S. Miller, Esq. MORRIS NICHOLS ARSHT & TUNNELL LLP 1201 N. Market St. Wilmington, DE 19801 Tel: 302-351-7412 Fax: 302-425-3080 Email: firstname.lastname@example.com's BUCHANAN INGERSOLL & ROONEY PCSpecialCorporateCounsel:Debtors' LOGAN & COMPANY, INC.Claims andNoticingAgent:Debtor's SSG ADVISORSFinancialAdvisors:Estimated Assets: $1 million to $10 millionEstimated Liabilities: $50 million to $100 millionThe petition was signed by David Hellman, president.A list of the Debtor's 20 largest unsecured creditors is availablefor free at http://bankrupt.com/misc/deb14-12391.pdfSENTINEL MANAGEMENT: BNY Mellon $312-Mil. Lawsuit Isn't Over------------------------------------------------------------Bill Rochelle and Sherri Toub, bankruptcy columnists for BloombergNews, reported that U.S. District Judge James B. Zagel in Chicagowho initially said he'd hand down a decision in June on thevalidity of Bank of New York Mellon Corp.'s $312 million securedclaim against bankrupt money manager Sentinel Management GroupInc. said on the record last week that his ruling won't come untillate November.According to the report, even if Judge Zagel does issue a decisionin November, there will probably be another appeal to the federalcircuit court in Chicago.The suit in district court is Grede v. Bank of New York, 08-cv-02582, U.S. District Court, Northern District of Illinois(Chicago). About Sentinel ManagementBased in Northbrook, Illinois, Sentinel Management Group Inc. --http://www.sentinelmgi.com/-- was a full service firm offering a variety of security solutions. The Company filed a voluntaryChapter 11 petition (Bankr. N.D. Ill. Case No. 07-14987) onAug. 17, 2007. Ronald Barliant, Esq., Randall Klein, Esq., andKathryn A. Pamenter, Esq., at Goldberg, Kohn, Bell & BlackRosenbloom & Moritz, Ltd., represented the Debtor. Lawyers atQuinn, Emanuel Urquhart Oliver & Hedges, LLP, represented theOfficial Committee of Unsecured Creditors. When the Debtor soughtbankruptcy protection, it estimated assets and debts of more than$100 million.On Aug. 28, 2007, the Court approved Frederick Grede as theDebtor's Chapter 11 Trustee. Marc I. Fenton, Esq., at DLA PiperUS LLP, and Vincent E. Lazar, Esq., at Jenner & Block LLP,represent the Chapter 11 Trustee.The Court confirmed the Fourth Amended Chapter 11 Plan ofLiquidation for Sentinel on Dec. 15, 2008, which created aLiquidation Trust. The Plan became effective Dec. 17, 2008, andMr. Grede was appointed Liquidation Trustee.SHALE-INLAND HOLDINGS: Moody's Cuts Secured Notes Rating to Caa1----------------------------------------------------------------Moody's Investors Service changed Shale-Inland Holdings, LLC'soutlook to negative from stable and downgraded the rating on thecompany's senior secured notes to Caa1 from B3. At the same time,Moody's affirmed the B3 corporate family rating and B3-PDprobability of default rating. The change in outlook and thedowngrade of the senior secured notes reflects Shale-Inland'srecent weak operating results and weakened credit profile, whichhas increased the relative loss potential on the notes.The following ratings were affected in this rating action:Downgrades: $250 Million Senior Secured Notes due 2019, to Caa1(LGD4) from B3(LGD4)Outlook Actions: Changed To Negative From StableAffirmations: Probability of Default Rating, Affirmed B3-PD Corporate Family Rating, Affirmed B3Ratings RationaleShale-Inland's B3 rating reflects its small size, elevatedleverage, weak interest coverage, significant exposure to thecyclical downstream energy sector, the possibility of further debtfinanced acquisitions and the company's low profit margins, whichare typical of the distribution industry. The ratings aresupported by the company's exposure to MRO activity, long-termrelationships with large and well-established customers as well asthe countercyclical working capital needs and limited capitalexpenditure requirements of the distribution business model. Thecompany also has an adequate liquidity profile with a lowoutstanding balance on its revolver and no near term debtmaturities.Shale-Inland's recent operating results have been weak driven bycompetitive market conditions, severe winter weather, a reducedlevel of project activity, a less profitable sales mix andincreased hiring and personnel costs as the company fills openexecutive management positions. As a result, Shale's revenues havedeclined by about 6.5% to $809 million and its adjusted EBITDA byapproximately 47% to $26 million during the LTM period endedAugust 3, 2014 versus the prior year period. This has led to asignificant deterioration in Shale-Inland's credit metrics, withits adjusted leverage ratio (Debt/EBITDA) rising to 11.8x from6.5x and its interest coverage ratio ((EBITDA-CapEx)/InterestExpense) declining to 0.3x from 1.1x.Moody's expects the company's operating results to remain underpressure in the second half of the fiscal year (ending Feb. 1,2015) since demand remains lackluster and stainless steel andaluminum prices have softened recently. However, the company is upagainst a very easy comparison versus the back half of last fiscalyear when operating results were impacted by weak demand andsevere winter weather. Therefore, Shale should produce improvedsecond half operating results and adjusted EBITDA of about $35million to $40 million for the fiscal year ended February 1, 2015versus $32 million last fiscal year. This will enable Shale-Inlandto substantially reduce its leverage ratio (Debt/EBITDA) to about8.0x and modestly raise its interest coverage ratio (EBITDA-CapEx/Interest Expense) to about 0.4x. However, these metrics willremain weak for the company's rating. Shale-Inland's future paceof deleveraging will be dependent on its ability to grow EBITDAsince the company had only $5 million of pre-payable debt inAugust 2014. The company should produce modestly improvedoperating results and credit metrics next fiscal year (endingJanuary 31, 2016) as downstream and liquefied natural gas projectactivity begins to ramp up.Shale-Inland has an adequate liquidity profile with about $2million of cash and $166 million of availability on its revolver,which had $5 million of borrowings and $2 million of letters ofcredit outstanding. The company has no debt maturities until March2017. Moody's views the revolver size as sufficient relative toShale's revenues and anticipate usage under the revolver to remainmodest in the short term.The negative outlook reflects Shale's recent weak operatingresults and deteriorating credit metrics. The outlook could returnto stable if operating results improve and result in substantiallyimproved credit metrics. This would include the leverage ratio(Debt/EBITDA) declining to 4.5x and the interest coverage ratio(EBITDA-CapEx/Interest Expense) rising above1.5x.The ratings are not likely to experience upward pressure in thenear term. However, Shale's ratings could experience upwardpressure if the company reduces its financial leverage below 4.0xand consistently generates free cash flow of at least $50 million.Negative rating pressure could develop if Shale's leverage ratioremains above 4.5x or its interest coverage ratio is sustainedbelow 1.5x, as measured by (EBITDA-CapEx)/Interest. A significantreduction in borrowing availability or liquidity could also resultin a downgrade.The principal methodology used in this rating was GlobalDistribution & Supply Chain Services published in November 2011.Other methodologies used include Loss Given Default forSpeculative-Grade Non-Financial Companies in the U.S., Canada andEMEA published in June 2009.Shale-Inland Holdings, LLC, headquartered in Houston, Texas, is adistributor and supplier of pipe, valves, fittings (PVF), relatedproducts and technical solutions to the energy and industrialsectors and a processor of stainless steel and aluminum products.The company operates in three segments: Pipe, Fitting, Flanges(PFF) (approximately 36% of LTM sales) is a distributor of pipe,fittings, flanges and other products primarily for thepetrochemical, refining, mining and power generation industries;Valves and Automation (approximately 35% of LTM sales) is adistributor of manual and automated valve products and accessoriesfor the petrochemical, refining, upstream and midstream oil & gas,power generation, mining, marine and other industrial end-markets;Fabrication & Distribution Services (F&DS) (approximately 29% ofLTM sales) is a provider of processing, stamping, fabrication anddistribution of stainless steel, aluminum and flat productsserving the transportation, energy, petrochemical, food serviceand other industrial end-markets. The company operates out ofapproximately 46 branch locations throughout the United States andCanada and generated revenues of $809 million for the trailingtwelve months ended August 3, 2014.SOURCE HOME: Seeks February Extension of Exclusive Filing Date--------------------------------------------------------------Source Home Entertainment, LLC, et al., ask the U.S. BankruptcyCourt for the District of Delaware to extend the period by whichthey have exclusive right to file a Chapter 11 plan through andincluding Feb. 18, 2015, and the period by which they haveexclusive right to solicit acceptances of that plan through andincluding April 21, 2015.The Debtors have filed a Chapter 11 plan of liquidation and anexplanatory disclosure statement, which will allow the Debtors towind down and distribute their assets to creditors in a timelymanner. The Debtors, however, need more time to continue to workwith their lenders and the Official Committee of UnsecuredCreditors to reach a global agreement on the complex issues thatare crucial to the confirmation of the Debtors' Plan, Ryan M.Bartley, Esq., at Young Conaway Stargatt & Taylor, LLP, inWilmington, Delaware, tells the Court.Under the proposed plan, creditors holding priority claims will bepaid in full. Also to receive full payments are bankruptcyprofessionals and creditors who have claims under a revolvingcredit agreement. Meanwhile, each general unsecured creditor willreceive a beneficial interest in its pro rata share of the assetsheld in a liquidating trust. Interests in Source HomeEntertainment will be canceled, according to the disclosurestatement.The court will hold a hearing on Nov. 10 to consider approval ofthe disclosure statement. A hearing on the confirmation of theliquidating plan is scheduled for Dec. 18.A hearing to consider approval of the extension request isscheduled for Nov. 20, 2014, at 10:00 a.m. (ET). Objections aredue Nov. 3. About Source Home Entertainment and Source InterlinkHeadquartered in Bonita Springs, Florida, Source HomeEntertainment, LLC, manufactures front-end retail checkoutdisplays and is a leading distributor of books, periodicals, andother printed material. Its distribution network spans over32,500 retail locations in the U.S. and abroad.In the twelve months ended April 30, 2014, Source Home generatedrevenues totaling approximately $600 million on a consolidatedbasis. As of March 31, 2014, Source Home had assets (notincluding goodwill or intangibles) of $205 million and liabilitiesof approximately $290 million. Source Interlink Distribution, LLCdisclosed $82,729,238 in assets and $104,521,951 in liabilities.Source Home, Source Interlink Manufacturing, LLC, and otheraffiliates sought Chapter 11 protection (Bankr. D. Del. Lead CaseNo. 14-11553) on June 23, 2014, to sell their front-end retaildisplay fixtures business to lenders, absent higher and betteroffers. The Debtors are winding down their books distributionbusiness.The Debtors have tapped Kirkland & Ellis LLP as general bankruptcyand corporate counsel; Young Conaway Stargatt & Taylor, LLP, asco-counsel, FTI Consulting, Inc., as crisis and turnaroundadvisor; and Kurtzman Carson Consultants, LLC, as claims agent.Stephen Dube has been designated by the Debtors to act as chiefrestructuring officer and Joshua Korsower to act as chieffinancial officer.The United States Trustee for Region 3 appointed seven creditorsto serve on the Official Committee of Unsecured Creditors. TheCommittee is represented by Lowenstein Sandler LLP, and DuaneMorris LLP. The Committee tapped PricewaterhouseCoopers LLP asits financial advisor.SPECIALTY PRODUCTS: Nov. 14 Fixed as Proofs of Claim Deadline-------------------------------------------------------------The U.S. Bankruptcy Court in Eastern District of Delaware hasestablished Nov. 14, 2014, as the deadline for all persons andentities holding or asserting a claim against Specialty ProductsHoldings Corp., aka RPM, Inc., to file a formal proof of claim inthe Debtor's case.Proofs of claim by governmental entities are due by Dec. 1, 2014. About Specialty ProductsCleveland, Ohio-based Specialty Products Holdings Corp., aka RPM,Inc., is a wholly owned subsidiary of RPM International Inc. TheCompany is the holding company parent of Bondex International,Inc., and the direct or indirect parent of certain additionaldomestic and foreign subsidiaries. The Company claims to be aleading manufacturer, distributor and seller of various specialtychemical product lines, including exterior insulating finishingsystems, powder coatings, fluorescent colorants and pigments,cleaning and protection products, fuel additives, wood treatmentsand coatings and sealants, in both the industrial and consumermarkets.The Company filed for Chapter 11 bankruptcy protection (Bankr. D.Del. Case No. 10-11780) on May 31, 2010. Gregory M. Gordon, Esq.,Dan B. Prieto, Esq., and Robert J. Jud, Esq., at Jones Day, serveas bankruptcy counsel. Daniel J. DeFranceschi, Esq., ZacharyI. Shapiro, Esq., Paul N. Heath, Esq., and Tyler D. Semmelman,Esq., at Richards Layton & Finger, serve as co-counsel. Logan andCompany is the Company's claims and notice agent. The Companyestimated its assets and debts at $100 million to $500 million.The Company's affiliate, Bondex International, Inc., filed aseparate Chapter 11 petition on May 31, 2010 (Case No. 10-11779),estimating its assets and debts at $100 million to $500 million.Specialty Products Holding Corp, together with BondexInternational, Inc., are referred to as the Initial Debtors.Counsel to the Official Committee of Asbestos PI Claimants areNatalie D. Ramsey, Esq., and Mark A. Fink, Esq. of Montgomery,Mccracken, Walker & Rhoads, LLP, in Wilmington Delaware, and MarkB. Sheppard, Esq. of the firm's Philadelphia, Pennsylvaniadivision.Counsel to the Future Claimants' Representative are James L.Patton, Jr., Esq., Edwin J. Harron, Esq., Edmon Morton, Esq.,Sharon Zieg, Esq., and Erin Edwards, Esq. of Young ConawayStargatt & Taylor LLP, in Wilmington, Delaware.Competing bankruptcy exit plans have been filed by the InitialDebtors, on one hand, and the Official Committee of UnsecuredCreditors and the Future Claimants' Representative on the other.The Debtors' First Amended Joint Plan of Reorganization and theexplanatory Disclosure Statement, dated Nov. 18, 2013, providesfor an asbestos trust to be established and funded with cash topay present and future asbestos-related claims. The trust will befunded by secured notes, issued by the Debtors and their ultimateparent, RPM International Inc. ("International"), and the amountsand terms of the notes will, with one exception, be determined bythe final outcome or settlement of the litigation that willdetermine the asbestos claimants' rights in the chapter 11 cases.The one exception is that the notes will provide for an aggregateinitial nonrefundable payment of $125 million to the asbestostrust irrespective of the outcome of any litigation. In short,the Debtors and International have committed to pay to asbestosclaimants the maximum amount to which they are entitled based onthe applicable judgments or rulings in the litigation that willdetermine the extent of the claimants' rights in the chapter 11cases, and to make comparable payments to other similarly situatedcreditors.The PI Committee and the FCR's Third Amended Plan, filed Oct. 15,2013, provides that: (i) SPHC will be separated from non-Debtordirect or indirect parent Bondex International; (ii) ReorganizedSPHC will be managed and/or sold for the benefit of holders of allClaims that are not paid in Cash, subordinated, cancelled orotherwise treated pursuant to the Plan; (iii) all of SPHC's causesof action will survive; (iv) Asbestos PI Trust Claims against SPHCwill be channeled to an Asbestos PI Trust; and (v) current SPHCequity interests will be canceled, annulled, and extinguished.On May 20, 2013, the Bankruptcy Court entered an order estimatingthe amount of the Debtors' asbestos liabilities, and a relatedmemorandum opinion in support of the estimation order. TheBankruptcy Court estimated the current and future asbestos claimsassociated with Bondex International, Inc. and Specialty ProductsHolding at approximately $1.17 billion. The estimation hearingrepresents one step in the legal process in helping to determinethe amount of potential funding for a 524(g) asbestos trust.On Aug. 31, 2014, Republic Powdered Metals, Inc., and affiliateNMBFiL, Inc. -- the New Debtors -- sought Chapter 11 protection(Bankr. D. Del. Case No. 14-12028). The New Debtors areindirect subsidiaries of Bondex International and affiliates ofthe Initial Debtors.Republic Powdered Metal is a leader in the roof coating andrestoration industry which provides exclusive products for roofand wall restoration, including an extensive line of roofcoatings.NMBFiL is formerly known as Bondo Corporation. It is amanufacturer of auto body repair products for the automotiveaftermarket and various other professional and consumerapplications. In November 2007, NMBFiL sold substantially all ofits assets and no longer has business operation.Republic estimated assets of $10 million to $50 million and debtof less than $10 million as of the bankruptcy filing.The New Debtors were granted, on Sept. 3, 2014, jointadministration of their Chapter 11 cases for procedural purposesonly, with the chapter 11 cases of Specialty Products HoldingCorp. and Bondex International, Inc.STHI HOLDINGS: Synergy Health Deal No Impact on Moody's 'B2' CFR----------------------------------------------------------------Moody's Investors Service says contract sterilization serviceprovider STHI Holdings Corporation, the parent company ofSterigenics Holdings, Inc. (collectively, "Sterigenics"), willface increasing competitive pressure over the medium to long termfollowing the recently announced acquisition of UK-based SynergyHealth (unrated) by US-based STERIS Corporation (unrated). STHI'sratings, including its B2 Corporate Family Rating and negativeoutlook are unaffected at this time.The principal methodology used in this rating was the GlobalBusiness & Consumer Service Industry Rating Methodology publishedin October 2010. Other methodologies used include Loss GivenDefault for Speculative-Grade Non-Financial Companies in the U.S.,Canada and EMEA published in June 2009.Sterigenics, headquartered in Oak Brook, IL, is a provider ofcontract sterilization and ionization services for medicaldevices, food safety, and advanced materials applications. STHIacquired Nordion, Inc. in 2014 for approximately $826 million.Headquartered in Ottawa, Nordion is a leading supplier ofradioactive isotope products and services used for the prevention,diagnosis and treatment of disease. On a combined basis, pro formarevenues totaled $552 million in 2013.TITAN INTERNATIONAL: Moody's Puts 'B1' CFR for Downgrade--------------------------------------------------------Moody's Investors Service has placed Titan International, Inc.'sratings, including its B1 corporate family rating, B1-PDprobability of default rating and B1 senior secured notes ratingunder review for downgrade. The speculative grade liquidity ratingis unchanged at SGL-2. The review for downgrade was prompted byTitan CEO's announcement that the cyclical downturn in its primaryend-market industry segments will minimally last through 2015 andperhaps into 2016. The current negative outlook has been changedto under review for downgrade.Ratings placed under review for downgrade: Corporate Family Rating, Under Review for Downgrade, currently B1 Probability of Default Rating, Under Review for Downgrade, currently B1-PD $400 million senior secured notes due 2020, Under Review for Downgrade, currently B1 (LGD-3) Outlook, Under Review for DowngradeRatings unchanged: Speculative Grade Liquidity Rating, SGL-2Ratings RationaleThe review for downgrade results from the expectation that Titan'soperating performance and credit metrics over the next twelve toeighteen months will be weaker than anticipated. Titan's CEOattributed the company's current business outlook to a decline indemand for new equipment due to large agricultural machinery beingin a cyclical downturn. More specifically, the company commentedthat "big" agriculture could be down 20 percent or more during2015, the company's mining side of the business will be flat andthe construction business will be slow to flat. Titan'sdebt/EBITDA for the last twelve months ended June 30, 2014, on aMoody's adjusted basis, stands at approximately 4.6x, within theB1 range but at risk of softening due to the aforementionedbusiness outlook. During the company's outlook comments, 2015revenue and EBITDA guidance was not provided but softness in itsprimary end-markets was cited.The review will focus on the company's operating performanceduring the next reported quarter including a reassessment of thecompany's short-term liquidity profile and expectations for theintermediate term. Moody's note that the company has taken actionsto reduce costs and better align its business with currentindustry conditions. Nevertheless, the degree with which theseprocess improvements and cost reductions can address the currentcyclical downturn in the company's end-markets will be evaluatedduring the ratings review.The principal methodology used in this rating was GlobalManufacturing Companies published in July 2014. Othermethodologies used include Loss Given Default for Speculative-Grade Non-Financial Companies in the U.S., Canada and EMEApublished in June 2009.Titan, headquartered in Quincy, IL is a manufacturer of wheels,tires and assemblies for off-highway vehicles serving theagricultural, earthmoving/construction and consumer end markets.Last twelve months ended June 30, 2014 revenues totaled $2.1billion.TLC HEALTH: Deadline to Challenge Lenders' Liens Moved to Oct. 27-----------------------------------------------------------------U.S. Bankruptcy Judge Carl Bucki approved an agreement to extendthe deadline for the official committee of unsecured creditors tochallenge the liens of TLC Health Network's secured lenders.The agreement allows the unsecured creditors' committee to file anaction challenging the liens of Brooks Memorial Hospital and theUniversity of Pittsburgh Medical Center until October 27.The committee will not conduct any further investigation until theOct. 27 deadline but it may pursue pending requests for documentsmade during the examinations conducted in 2004. About TLC Health NetworkTLC Health Network filed a Chapter 11 petition (Bankr. W.D.N.Y.Case No. 13-13294) on Dec. 16, 2013. The petition was signed byTimothy Cooper as Chairman of the Board. The Debtor estimatedassets of at least $10 million and debts of at least $1 million.Jeffrey A. Dove, Esq., at Menter, Rudin & Trivelpiece, P.C.,serves as the Debtor's counsel. Damon & Morey LLP is the Debtor'sSpecial Health Care Law and Corporate Counsel. The Bonadio Groupis the Debtor's accountants. Howard P. Schultz & Associates, LLCis the Debtor's appraiser.The case is assigned to the Hon. Carl L. Bucki.A three-member panel composed of Cannon Design, ChautauquaOpportunities, Inc., and Jamestown Rehab Services has beenappointed as the official unsecured creditors committee. Bond,Schoeneck & King, PLLC is the counsel to the Committee. TheCommittee has tapped NextPoint LLC as financial advisor.Gleichenhaus, Marchese & Weishaar, PC is the general counsel forLinda Scharf, the Patient Care Ombudsman of TLC Health.TPC GROUP: S&P Retains 'B' Rating Over $50MM Secured Notes Add-On-----------------------------------------------------------------Standard & Poor's Ratings Services said that its ratings onHouston-based TPC Group Inc. are unchanged following TPC'sproposed $50 million add-on to its existing $755 million seniorsecured notes. S&P has maintained its 'B' issue-level rating and'4' recovery rating on the senior secured notes, indicating S&P'sexpectation of average (30% to 50%) recovery in the event of apayment default.S&P expects that the company will use proceeds from the add-onoffering to pay down outstanding revolver borrowings and forgeneral corporate purposes. All of S&P's other existing ratingson the company, including the 'B' corporate credit rating, remainunchanged. The outlook is stable.The ratings on TPC Group reflect its narrow product range ofcommodity compounds, limited customer and geographic diversity,cyclicality in its key markets, modest EBITDA margins, and highlevel of debt leverage (adjusted debt to EBITDA was about 6x atJune 2014). These risk factors are partially offset by thecompany's favorable competitive position and S&P's expectationthat the on-purpose isobutylene plant (which is expected to comeonline in the next few months) will lead to a step change in thecompany's EBITDA. Standard & Poor's characterizes TPC Group'sbusiness risk profile as "weak" and its financial risk profile as"highly leveraged."Ratings ListTPC Group Inc. Corporate Credit Rating B/Stable/--Ratings UnchangedTPC Group Inc.$805 Mil. Senior Secured Notes B Recovery Rating 4TRIKO LLC: Taps Snell & Wilmer as General Insolvency Counsel------------------------------------------------------------TriKo LLC asks the U.S. Bankruptcy Court for the Central Districtof California for permission to employ Snell & Wilmer LLP as itsgeneral insolvency counsel.The firm will: l) advise and assist the Debtor in evaluating this Chapter 11 case and complying with the requirements of the Bankruptcy Code and the Office of the United States Trustee; 2) advise the Debtor regarding matters of bankruptcy law, including the rights and remedies of the Debtor with regard to the estate, its assets and the claims of creditors; 3) consult with the Debtor concerning the administration of this case; 4) make any court appearances on behalf of and to represent the Debtor in any proceedings or hearings in the United States Bankruptcy Court for the Central District of California involving matters of bankruptcy law and in any other court where the rights of the Debtor may be litigated or affected; 5) conduct examinations of witnesses, claimants or adverse parties and to prepare and assist in the preparation of reports, accounts and pleadings related to this Chapter 11 case; 6) assist the Debtor in the final negotiation, formulation, confirmation and implementation of a Chapter 11 plan; 7) advise the Debtor concerning the requirements of the Bankruptcy Code, the Federal Rules of Bankruptcy Procedure, the Local Bankruptcy Rules and all other applicable rules affecting this proceeding; and 8) take such other action and perform such other services as the Debtor may require of the Firm in connection with this chapter 11 case.The firm proposes to render services to the Debtor at its regularhourly rates. The firm's California bankruptcy group who areexpected to render services in this matter and their billingrates: Attorneys 2014 Hourly Rates --------- ----------------- Michael B. Reynolds, Esq. $605 Brett H. Ramsaur, Esq. $335The firm says it may utilize other professionals in its Californiaor other offices as needed to expedite and facilitate the handlingof matters on behalf of the Debtor. These professionals will billat their standard rates, which range between $150 and $700 perhour. The Debtor will not be charged for intra-firm travel oraccommodation expenses incurred by the firm in connection with theservices rendered by these professionals. The firm's regularpractice of billing in increments of one-tenth of an hour will befollowed in this case.According to the firm, its initial engagement agreement with theDebtor called for a prepetition retainer of $30,000, which wasfunded by the Debtor on Aug. 22, 2014. After it became apparentthat the Debtor would need more time to negotiate a consensualsettlement with lienholders and the potential purchaser of theProperty, the Debtor elected to seek protection under Chapter 11.Accordingly, the Debtor augmented the firm's retainer by $40,000on Sept. 17, 2014, plus an additional $1,7l7 two days later, onSept. 19, 2014. Also on Sept. 19, 2014, three of the Debtor'smembers, Deanna Ko, Landry Ko and Fiona Ko, each provided the firmwith $10,000 on behalf of the Debtor. On or about Sept. 22, 2014,shortly before filing the Debtor's bankruptcy petition, the firmdrew down on the initial retainer to cover pre-petition fees andcosts in the amount of $27,475. This left a total retaineraccount balance of $74,241 as of time the petition was filed onthe afternoon of Sept. 22, 2014. Thus, at the time the petitionwas filed, the Debtor owed nothing to the Firm on account of workperformed or costs incurred.Michael B. Reynolds, partner of the firm, assures the Court thatthe firm is a "disinterested person" within the meaning of Section101(14) of the Bankruptcy Code.The firm can be reached at: Michael B. Reynolds, Esq. Brett H. Ramsaur, Esq. SNELL & WILMER LLP Two California Plaza 350 South Grand Avenue, Suite 2600 Los Angeles, CA 90071-3406 Tel: 213-929-2500 Fax: 213-929-2525 Email: email@example.com email@example.com About Triko LLCTriko, LLC, commenced Chapter 11 bankruptcy proceedings (Bankr.C.D. Cal. Case No. 14-28008) in Los Angeles on Sept. 22, 2014, tostop foreclosure of its property in Fullerton, California. TheDebtor estimated both assets and liabilities between $10 millionand $50 million.TRINITY INDUSTRIES: FHA Demands New Testing on Guardrails---------------------------------------------------------Katy Stech, writing for The Wall Street Journal, reported thatofficials of the Federal Highway Administration, a unit of theU.S. Transportation Department, are demanding that TrinityIndustries Inc. conduct new crash tests for its ET-Plus guardrailsystem following a record-setting jury verdict in a lawsuit thatquestioned the product?s safety. According to the report, the FHAsent a letter that gives Trinity Industries an Oct. 31 deadline toexplain how they plan to runs new tests on the ET-Plus model,which was redesigned in 2005 and is alleged to malfunction duringcollisions, spearing incoming vehicles.As previously reported by The Troubled Company Reporter, citingDaily Bankruptcy Review, a federal jury in Texas has awarded $175million in a trial brought by a whistleblower who questioned thesafety of thousands of highway guardrail end caps on the nation'sroads. After deliberating for just several hours in U.S. DistrictCourt in Marshall, Texas, a jury sided with whistleblower JoshHarman, finding Trinity Industries Inc. defrauded the federalgovernment when it submitted claims tied to a modified guardrailsystem. About Trinity IndustriesHeadquartered in Dallas, Texas, Trinity Industries Inc. (NYSE:TRN)-- http://www.trin.net/-- is a holding company of diversified industrial companies. Trinity manufactures and sells railcars andrailcar parts, inland barges, concrete and aggregates, highwayproducts, beams and girders used in highway construction, tankcontainers and structural wind towers. In addition, it leasesrailcars to its customers through a captive leasing business,Trinity Industries Leasing Company. Trinity has five businessgroups: Rail Group, Railcar Leasing and Management Services Group,Construction Products Group, Inland Barge Group and the EnergyEquipment Group. * * *The Troubled Company Reporter, on Sep. 24, 2014, reported thatMoody's Investors Service affirmed all debt ratings of TrinityIndustries, Inc., including the Ba1 Corporate Family Rating, andchanged the rating outlook to positive from stable. Moody's alsoassigned a Ba1 (LGD4) rating to Trinity's new issue of $300million of unsecured notes.The proceeds of the new notes will be used initially to bolsterits cash reserves following the recent acquisition of Meyer SteelStructures for about $600 million, which Trinity funded from cash.Moody's anticipates that the company will continue to acquireadditional manufacturing companies to broaden the productofferings in its construction products and energy equipment groupsto help reduce the still high concentration of its highly cyclicalrail manufacturing segment.TRUMP ENTERTAINMENT: March 9 Set as Governmental Claims Bar Date----------------------------------------------------------------The U.S. Bankruptcy Court in Eastern District of Delaware hasestablished March 9, 2014, as the deadline for all governmentalentities to file proofs of claim in the bankruptcy case of TrumpEntertainment Resorts Inc.Trump Entertainment Resorts Inc., owner of the Atlantic CityBoardwalk casinos that bear the name of Donald Trump, returned toChapter 11 bankruptcy (Bankr. D. Del. Case No. 14-12103) onSept. 9, 2014, with plans to shutter its casinos.TER and its affiliated debtors own and operate two casino hotelslocated in Atlantic City, New Jersey. TER said it will close theTrump Taj Mahal Casino Resort by Sept. 16, 2014, and, absent unionconcessions, the Trump Plaza Hotel and Casino by Nov. 13, 2104.The Debtors have sought an order authorizing the jointadministration of their Chapter 11 cases and the consolidationthereof for procedural purposes only. Judge Kevin Gross presidesover the Chapter 11 cases.The Debtors have tapped Young, Conaway, Stargatt & Taylor, LLP, ascounsel; Stroock & Stroock & Lavan LLP, as co-counsel; HoulihanLokey Capital, Inc., as financial advisor; and Prime Clerk LLC, asnoticing and claims agent.TER estimated $100 million to $500 million in assets as of thebankruptcy filing.The Debtors as of Sept. 9, 2014, owe $285.6 million in principalplus accrued but unpaid interest of $6.6 million under a firstlien debt issued under their 2010 bankruptcy-exit plan. TheDebtors also have trade debt in the amount of $13.5 million.TRUMP ENTERTAINMENT: Taj Mahal Casino Threatens to Close--------------------------------------------------------Trump Entertainment Resorts Inc.'s Trump Taj Mahal has threatenedto close on Nov. 13, 2014, if its demands wouldn't be met, BrianPempus at Cardplayer.com reports.The Associated Press says that Trump Taj Mahal is seeking$175 million in state and local government assistance to help itstay afloat before billionaire Carl Icahn would agree to purchasethe property and bail it out.Cardplayer.com relates that Trump Taj Mahal has also refused totake down the Trump from its name. As reported by the TroubledCompany Reporter on Oct. 13, 2014, Wayne Parry at The AssociatedPress reported that Donald Trump and his daughter Ivanka, in alawsuit against Trump Entertainment, are seeking to disassociatethemselves from the Debtor and have their name stripped from theTrump Taj Mahal, and the Debtor itself, claiming that the Debtorlet its two casinos fall into disrepair that it breached qualitystandards agreed to by both sides.A lawsuit from Donald Trump right now will hurt the bankruptcyprocess of Trump Entertainment, of which Mr. Trump reportedlystill has a small percent, Cardplayer.com says, citing Trump TajMahal. About Trump Entertainment ResortsTrump Entertainment Resorts Inc., owner of the Atlantic CityBoardwalk casinos that bear the name of Donald Trump, returned toChapter 11 bankruptcy (Bankr. D. Del. Case No. 14-12103) onSept. 9, 2014, with plans to shutter its casinos.TER and its affiliated debtors own and operate two casino hotelslocated in Atlantic City, New Jersey. TER said it will close theTrump Taj Mahal Casino Resort by Sept. 16, 2014, and, absent unionconcessions, the Trump Plaza Hotel and Casino by Nov. 13, 2104.The Debtors have sought an order authorizing the jointadministration of their Chapter 11 cases and the consolidationthereof for procedural purposes only. Judge Kevin Gross presidesover the Chapter 11 cases.The Debtors have tapped Young, Conaway, Stargatt & Taylor, LLP, ascounsel; Stroock & Stroock & Lavan LLP, as co-counsel; HoulihanLokey Capital, Inc., as financial advisor; and Prime Clerk LLC, asnoticing and claims agent.TER estimated $100 million to $500 million in assets as of thebankruptcy filing.The Debtors as of Sept. 9, 2014, owe $285.6 million in principalplus accrued but unpaid interest of $6.6 million under a firstlien debt issued under their 2010 bankruptcy-exit plan. TheDebtors also have trade debt in the amount of $13.5 million.UNITEK GLOBAL: To File for Ch 11 Bankruptcy Before Nov. 11----------------------------------------------------------UniTek Global Services, Inc., and its lenders, includingaffiliates of Littlejohn & Co. and New Mountain Capital haveagreed to the terms of a comprehensive debt restructuring.The Restructuring will allow the Company to continue honoring itsobligations and responsibilities to its employees, customers, andvendors in the ordinary course of business, while significantlyreducing its debt, reorganizing other financial obligations, andcreating a strong financial foundation for the Company's future.To implement the Restructuring, the Company intends to file beforeNov. 11, 2014, a voluntary petition for a "Pre-Packaged" Chapter11 Bankruptcy in the U.S. Bankruptcy Court for the District ofDelaware. In the filing, the Company plans to request a hearingto approve the Restructuring and to set an expedited schedule forthe Company's emergence from Chapter 11.The terms of the Restructuring provide for a substantial reductionof secured debt through a debt-for-equity "swap" of over 40% aswell as a substantial reduction in cash interest rate. Inaddition, the Lenders have agreed to advance up to $43 million ofnew capital to support the Company's recapitalization. All validunsecured creditors' claims on UniTek and its subsidiaries will beassumed in the ordinary course of business and unimpaired.Concurrently, the Lenders, as well as UniTek's largest customer,DIRECTV, have entered into a Plan Support Agreement in support ofthe Restructuring. "We are pleased that the Company has takensteps to improve its financial profile. We value our relationshipwith UniTek and look forward to continuing our partnership,"stated Dave Baker, Senior Vice President of DIRECTV.Upon completion of the Restructuring, UniTek will become a privatecompany entirely owned by its Lenders, the largest of which haveleading private equity practices, as well as deep relationships inthe specialty contracting and fulfillment services industries."We are very pleased to have the support of the Lenders in thesteps we have taken to improve our balance sheet and, through it,the long-term health of our Company," said Rocky Romanella, ChiefExecutive Officer. "As a result of this Restructuring, we will bepositioned as a financially sound competitor in the industriesUniTek serves. We have taken steps to diminish the impact of thisprocess on our vendors, customers and employees, and we intend tomove forward as expeditiously as possible to complete theRestructuring." About UniTek Global ServicesUniTek Global Services, Inc., based in Blue Bell, Pennsylvania,provides fulfillment and infrastructure services to media andtelecommunication companies in the United States and Canada.UniTek Global reported a net loss of $52.07 million on $471.93million of revenues for the year ended Dec. 31, 2013, as comparedwith a net loss of $77.73 million on $437.59 million of revenuesin 2012.The Company's balance sheet at March 29, 2014, showed $249.60million in total assets, $257.33 million in total liabilities anda $7.72 million total stockholders' deficit. Bankruptcy Warning"An event of default under either of our credit facilities couldresult in, among other things, the acceleration and demand forpayment of all the principal and interest due and the foreclosureon the collateral. As a result of such a default or actionagainst collateral, we could be forced to enter into bankruptcyproceedings, which may result in a partial or complete loss ofyour investment," the Company said in its annual report for theyear ended Dec. 31, 2013. * * *As reported by the TCR on Oct. 17, 2013, Standard & Poor's RatingsServices said it raised its corporate credit rating on Blue Bell,Pa.-based UniTek Global Services Inc. to 'B-' from 'CCC'. "Theratings upgrade to 'B-' reflects our belief that the companyis no longer vulnerable and dependent on favorable developments tomeet its financial commitments over the next few years," saidStandard & Poor's credit analyst Michael Weinstein.The TCR reported on Oct. 10, 2014, that Moody's Investors Servicedowngraded UniTek Global Services, Inc.'s corporate family ratingto Ca. The Ca corporate family rating reflects Moody's view thatthe forbearance agreement entered into with UniTek's lenders onAugust 8th would be considered a default under Moody's definition.UNIVISION NOTICIAS: Closing News Operation, To Lay Off 100 Staff----------------------------------------------------------------Frank Worley-Lopez at Panampost.com reports that UnivisionNoticias disclosed on Oct. 17, 2014, that it was closing itsentire news operation at Channel 11, and letting go of roughly 100workers.Panampost.com relates that Puerto Rico residents boycott UnivisionNoticias over the Channel 11 shutdown. According to the report,news of the decision to close went viral and there were calls forboycotts on all Univision products.VOYAGER FOUNDATION: S&P Assigns 'BB+' Rating on Revenue Bonds-------------------------------------------------------------Standard & Poor's Ratings Services assigned its 'BB+' rating tothe Public Finance Authority, Wis.' charter school revenue bonds,tax-exempt series 2014A and taxable series 2014B, issued for theVoyager Foundation in Durham, N.C. In addition, S&P assigned its'BB+' rating to the foundation's series 2012A bonds. The outlookis stable."The rating reflects our view of the foundation and academy'sbelow-average cash on hand for the rating category and negativeoperations, as well as the academy's good demand profile, withnear-capacity enrollment and a wait list of more than 100% ofenrollment," said Standard & Poor's credit analyst Carlotta Mills.The 2012A debt was used to purchase the elementary and high schooland currently has an outstanding balance of $15.8 million. Theseries 2014 debt will refund $8.0 million in new market taxcredits that were used to purchase the middle school, refund a$600,000 loan, fund a debt service reserve of $647,000, and payfor issuance costs.WILSON COUNTY MEMORIAL: S&P Raises Rating on 2003 GO Bonds to 'BB'------------------------------------------------------------------Standard & Poor's Ratings Services raised its underlying rating(SPUR) to 'BB' from 'B' on Wilson County Memorial Hospital, Texas'(doing business as Connally Memorial Medical Center) series 2003general obligation (GO) bonds. The outlook is stable."The raised rating reflects our view of the district's sustainedimproved financial metrics in fiscal 2013, through 11 months offiscal 2014, and budgeted for fiscal 2015," said Standard & Poor'scredit analyst Karl Propst.The rating remains speculative grade due to S&P's view of thedistrict's historically volatile patient volumes coupled with theinherent vulnerabilities associated with the medical center'ssmall revenue base and rural location.YELLOWSTONE MOUNTAIN: Founder's Wife Sued Over Yacht 'Piano Bar'----------------------------------------------------------------Bill Rochelle and Sherri Toub, bankruptcy columnists for BloombergNews, reported that Timothy Blixseth's current wife, JessicaBlixseth, is the latest target of lawsuits by creditors of thebankrupt Yellowstone Mountain Club LLC after the creditors' trustsued Ms. Blixseth for being a recipient of the 156-foot yacht"Piano Bar," which, according to creditors, was a fraudulenttransfer from Mr. Blixseth.The report said the complaint said the couple "reportedlycontinues to use and enjoy" the vessel to this day and asked thejudge to enjoin Ms. Blixseth from transferring the yacht until thesuit is resolved.The new suit is Glasser v. Blixseth, 14-cv-01576, U.S. DistrictCourt, Western District of Washington (Seattle). About Yellowstone MountainLocated near Big Sky, Montana, Yellowstone Mountain Club LLC --http://www.theyellowstoneclub.com/-- is a private golf and ski community with more than 350 members, including Bill Gates and DanQuayle. The Company was founded in 1999.Yellowstone Club and its affiliates filed for Chapter 11bankruptcy (Bankr. D. Montana, Case No. 08-61570) on Nov. 10,2008. The Company's owner affiliate, Edra D. Blixseth, fileda separate Chapter 11 petition on March 27, 2009 (Case No.09-60452).Attorneys at Bullivant Houser Bailey PC and Bekkedahl & GreenPLLC represented Yellowstone. The Debtors hired FTI ConsultingInc. and Ronald Greenspan as CRO. The official committee ofunsecured creditors were represented by Parsons, Behle andLatimer; and James H. Cossitt, Esq., as counsel. Credit Suisse,the prepetition first lien lender, was represented by Skadden,Arps, Slate, Meagher & Flom.In June 2009, the Bankruptcy Court entered an order confirmingYellowstone's Chapter 11 Plan. Pursuant to the Plan, CrossHarborCapital Partners LLC acquired equity ownership in the reorganizedClub for $115 million.Marc S. Kirschner, Esq., was appointed the Trustee of theYellowstone Club Liquidating Trust created under the Plan.YOSHI'S SAN FRANCISCO: Jazz Club & Restaurant Renamed as Addition-----------------------------------------------------------------Meredith May, staff writer at the San Francisco Chronicle, reportsthat the Yoshi's San Francisco, LLC the jazz club and Japaneserestaurant has been renamed the Addition.The San Francisco Chronicle relates that Peter Williams, formerdirector of Yoshi's Oakland who will handle music programming forthe 28,000-square-foot venue, said that the Yoshi's sign will bereplaced with a New Addition sign on Nov. 1, 2014.Emma Silvers at Sfweekly.com reports that six months after theCompany filed for Chapter 11 bankruptcy, new owners Fillmore LiveEntertainment Group, LLC, said that they had won talks to takeover the venue. According to the San Francisco Chronicle, the newownership group, which was created in June 2014 under thedirection of managing partner Michael Johnson, took over on July1, 2014. About Yoshi's San FranciscoAn involuntary Chapter 11 bankruptcy petition (Bankr. N.D. Calif.Case No. 12-49432) was filed on Nov. 28, 2012, against Yoshi's SanFrancisco, aka Yoshi's San Francisco LLC, an upscale nightclub,music venue, and Japanese restaurant located in Oakland. Thealleged creditors are Yoshi's Japanese Restaurant, allegedly owed$1.28 million; Apex Refrigeration Corp., owed $504; and East BayRestaurant Supply Inc., owed $2,707.Judge Roger L. Efremsky oversees the case, taking over from JudgeM. Elaine Hammond. Scott H. McNutt, Esq., and Shane J. Moses,Esq., at McNutt Law Group, represent the Debtor as counsel. YSFopened its doors in December 2007. The project was part of apartnership involving the City and County of San Francisco and areal estate developer, Fillmore Development Commercial, LLC. YSFis a California limited liability company with two members, bothof which are corporate entities. The majority member is Yoshi'sFillmore, LLC, of which Yoshi's Japanese Restaurant in Oakland isthe principal member and manager. The minority member is FillmoreJazz Club, LLC, a group of investors managed by Michael Johnson,who also manages the developer, FDC.There is a provision in the YSF operating agreement that requiresunanimous agreement to take certain actions that have a permanenteffect on the company such as the filing of a voluntary Chapter 11restructuring. This predictably led to acrimony and gridlock, andprevented YSF management from taking what it believed were thethose actions necessary in the face of the company's continuedfinancial situation.On Oct. 29, 2012, FDC filed a lawsuit in state court seekingappointment of a receiver to take over control of YSF. YSFrecognized that this would be ultimately unproductive, becauseit would be highly disruptive and potentially lead to loss of theYoshi's name, as well as the manager who has been the drivingforce behind Yoshi's for 40 years.YSF determined that the only option to allow the continuedoperation of Yoshi's and protect the interests of all creditorswas for creditors of Yoshi's to file an involuntary bankruptcypetition against YSF.Fillmore is represented by Sara L. Chenetz, Esq., at Blank RomeLLP.* Mintz Levin's Bae Discusses 3rd Party Protections in Tort Cases-----------------------------------------------------------------John Bae, Esq., at Mintz Levin, discussed third-party protectionsin mass tort Chapter 11 cases in an article available athttp://is.gd/ZpgQmf"A defendant facing thousands of mass tort lawsuits in federal andstate courts throughout the country often will seek to address thelitigation by seeking Chapter 11 relief under the BankruptcyCode," Mr. Bae wrote.He also noted that the mass tort debtor's ability to propose aconfirmable plan will largely be driven by its ability to providemeaningful distribution to the tort victims.The article was originally published in the New York Law Journalon October 1, 2014.* Bingham McCutchen Law Firm Weighs Options-------------------------------------------Jennifer Smith, writing for The Wall Street Journal, reported thatstruggling Boston law firm Bingham McCutchen LLP is appealing toits partners to stick around and says its profitability isimproving after a tough 18 months marked by lawyer exits andsliding revenue. According to the report, keeping more partnersfrom leaving is crucial for the firm as Bingham is attempting torebound from a 12.6% plunge in revenue last year, after somelucrative litigation work wound down, and it has been indiscussions about a possible merger with larger rival Morgan,Lewis & Bockius LLP as a way out of its troubles.* John Harms Joins Huron Consulting Group as Managing Director--------------------------------------------------------------Huron Consulting Group, a provider of business consultingservices, on Oct. 22 disclosed that John D. Harms has joined theCompany as a managing director within its Business Advisorypractice."Economic uncertainty and marketplace challenges continue to drivedemand for business advisory services in a variety of industries,"said John DiDonato, managing director and Huron Business Advisoryleader. "John has a distinguished track record helping Fortune500 and middle-market clients address issues involving strategicand operational planning, process excellence, reengineering andsupply chain improvements. We are pleased to welcome John toHuron and are confident that he will bring value to our clientsacross industries."Mr. Harms has more than 25 years of experience and joins Huronfrom IBM Global Business Services where he was a Strategy andTransformation partner. He previously held senior managementconsulting roles with PricewaterhouseCoopers and Ernst & Young.At Huron, Mr. Harms will help clients optimize their operationaland financial results across industries including manufacturing,aerospace, automotive, technology, electronics, retail, andconsumer products and services. About Huron Business AdvisoryHuron Business Advisory resolves complex business issues andenhances value with a full suite of services for middle-marketcompanies and larger businesses, including forensicinvestigations, transaction advisory, restructuring andturnaround, interim management, capital raising, operationalimprovement, and valuation. Its senior-level team members havevast experience in a range of industries, with many serving as C-level executives, who quickly analyze a business situation andapply our knowledge to finding a workable solution. About Huron Consulting GroupHuron Consulting Group -- http://www.huronconsultinggroup.com-- helps clients in diverse industries improve performance, transformthe enterprise, reduce costs, leverage technology, process andreview large amounts of complex data, address regulatory changes,recover from distress and stimulate growth. The Company'sprofessionals employ their expertise in finance, operations,strategy and technology to provide its clients with specializedanalyses and customized advice and solutions that are tailored toaddress each client's particular challenges and opportunities todeliver sustainable and measurable results. The Company providesconsulting services to a wide variety of both financially soundand distressed organizations, including healthcare organizations,leading academic institutions, Fortune 500 companies, governmentalentities and law firms. Huron has worked with more than 425health systems, hospitals, and academic medical centers; more than400 corporate general counsel; and more than 350 universities andresearch institutions.* Recent Small-Dollar & Individual Chapter 11 Filings-----------------------------------------------------In re Beef and Britchens II, LLC Bankr. D. Ariz. Case No. 14-15527 Chapter 11 Petition filed October 14, 2014 See http://bankrupt.com/misc/azb14-15527.pdf represented by: Dean M. Dinner, Esq. NUSSBAUM GILLIS & DINNER, P.C. E-mail: email@example.com re Jimmy G. Fernandez and Susan W. Fernandez Bankr. D. Ariz. Case No. 14-15530 Chapter 11 Petition filed October 14, 2014In re Erween Epino and Marjorie Miana Epino Bankr. C.D. Cal. Case No. 14-29453 Chapter 11 Petition filed October 14, 2014In re Mario Silverio Granados and Emma Lazaro-Vanegas Bankr. D. Nev. Case No. 14-16872 Chapter 11 Petition filed October 14, 2014In re Gale Ann Wallach Bankr. E.D.N.Y. Case No. 14-74650 Chapter 11 Petition filed October 14, 2014In re Victoria Teodorescu Bankr. S.D.N.Y. Case No. 14-23450 Chapter 11 Petition filed October 14, 2014In re Dimple, LLC Bankr. E.D.N.C. Case No. 14-05962 Chapter 11 Petition filed October 14, 2014 See http://bankrupt.com/misc/nceb14-05962.pdf represented by: John G. Rhyne, Esq. E-mail: email@example.com re Annie's Bakery, Inc. Bankr. W.D.N.C. Case No. 14-10554 Chapter 11 Petition filed October 14, 2014 See http://bankrupt.com/misc/ncwb14-10554.pdf represented by: D. Rodney Kight, Jr., Esq. KIGHT LAW OFFICE PC E-mail: email@example.com re Graphics 2000 Bankr. D. Nev. Case No. 14-16879 Chapter 11 Petition filed October 14, 2014 See http://bankrupt.com/misc/nvb14-16879.pdf represented by: Jonathan B. Goldsmith, Esq. E-mail: firstname.lastname@example.com re Vicente Calderon Rodriguez and Elizabeth Alicea Aponte Bankr. D.P.R. Case No. 14-08446 Chapter 11 Petition filed October 14, 2014In re William G. Dickie andBarbara G. Dickie Bankr. E.D. Tex. Case No. 14-42197 Chapter 11 Petition filed October 14, 2014In re Coucoon Signature Salon & Spa LLC Bankr. E.D. Va. Case No. 14-73726 Chapter 11 Petition filed October 14, 2014 See http://bankrupt.com/misc/vaeb14-73726.pdf represented by: Barry R. Koch, Esq. INMAN & STRICKLER, P.L.C. E-mail: email@example.com re S & L Printing and Mailing Inc. Bankr. D. Ariz. Case No. 14-15542 Chapter 11 Petition filed October 15, 2014 See http://bankrupt.com/misc/azb14-15542.pdf represented by: Don C. Fletcher, Esq. LAKE AND COBB E-mail: firstname.lastname@example.com re Smith Heavy Industrial Transit Corp Bankr. C.D. Cal. Case No. 14-14690 Chapter 11 Petition filed October 15, 2014 See http://bankrupt.com/misc/cacb14-14690.pdf Filed Pro SeIn re Susan Marie Glines-Thompson Bankr. E.D. Cal. Case No. 14-30248 Chapter 11 Petition filed October 15, 2014In re Hossein Panagiotis Zavvari Bankr. N.D. Cal. Case No. 14-31496 Chapter 11 Petition filed October 15, 2014In re Thanh Van Do Bankr. N.D. Cal. Case No. 14-54175 Chapter 11 Petition filed October 15, 2014In re One Grace, LLC Bankr. S.D. Ind. Case No. 14-09568 Chapter 11 Petition filed October 15, 2014 See http://bankrupt.com/misc/insb14-09568.pdf represented by: KC Cohen, Esq. KC COHEN, LAWYER, P.C. E-mail: firstname.lastname@example.com re Tri-State Health & Wellness Medical Care Center, P.C. Bankr. D.N.J. Case No. 14-31002 Chapter 11 Petition filed October 15, 2014 See http://bankrupt.com/misc/njb14-31002.pdf represented by: Alla Kachan, Esq. LAW OFFICES OF ALLA KACHAN, P.C. E-mail: firstname.lastname@example.com re Valgir, Inc. Bankr. D.N.J. Case No. 14-31038 Chapter 11 Petition filed October 15, 2014 See http://bankrupt.com/misc/njb14-31038.pdf represented by: Kenneth J. Rosellini, Esq. E-mail: firstname.lastname@example.com re David W. King, Jr. Bankr. E.D.N.C. Case No. 14-06010 Chapter 11 Petition filed October 15, 2014In re Iglesia Cristiana Senderos De La Verdad Inc. Bankr. D.P.R. Case No. 14-08478 Chapter 11 Petition filed October 15, 2014 See http://bankrupt.com/misc/prb14-08478.pdf represented by: Alberto O. Lozada Colon, Esq. BUFETE LOZADA COLON E-mail: email@example.com re DWheeler, Inc. dba Moore's Hardware Bankr. S.D. W. Va. Case No. 14-30406 Chapter 11 Petition filed October 15, 2014 See http://bankrupt.com/misc/wvsb14-30406.pdf represented by: Mitchell Lee Klein, Esq. KLEIN LAW OFFICE E-mail: email@example.com re Martin J. Baltazar Bankr. D. Nev. Case No. 14-16976 Chapter 11 Petition filed October 16, 2014In re Francis Ohio Properties, LLC Bankr. N.D. Ohio Case No. 14-52734 Chapter 11 Petition filed October 16, 2014 See http://bankrupt.com/misc/ohnb14-52734.pdf represented by: David A Mucklow, Esq. E-mail: email@example.com re 831 Chestnut, LLC Bankr. M.D. Pa. Case No. 14-04814 Chapter 11 Petition filed October 16, 2014 See http://bankrupt.com/misc/pamb14-04814.pdf represented by: Markian R. Slobodian, Esq. LAW OFFICES OF MARKIAN R. SLOBODIAN E-mail: firstname.lastname@example.com re Benjamin Scott Coffey and Katy Elizabeth Coffey Bankr. E.D. Tenn. Case No. 14-14687 Chapter 11 Petition filed October 16, 2014In re Osondu Ibom Bankr. S.D.N.Y. Case No. 14-12915 Chapter 11 Petition filed October 15, 2014In re Consumer's Discount Wines and Liquors, Inc. Bankr. S.D.N.Y. Case No. 14-37085 Chapter 11 Petition filed October 15, 2014 See http://bankrupt.com/misc/nysb14-37085.pdf represented by: Thomas Genova, Esq. GENOVA & MALIN, ATTORNEYS E-mail: firstname.lastname@example.com re Kellee Patricia Bergendahl Bankr. C.D. Cal. Case No. 14-16179 Chapter 11 Petition filed October 17, 2014In re Ebrahim K Nakhjavani and Charlotte Nakhjavani Bankr. C.D. Cal. Case No. 14-16186 Chapter 11 Petition filed October 17, 2014In re Martha J. Castro Bankr. C.D. Cal. Case No. 14-14734 Chapter 11 Petition filed October 17, 2014In re Unghwan Choi Bankr. C.D. Cal. Case No. 14-29665 Chapter 11 Petition filed October 17, 2014In re Linda K. Campbell Bankr. N.D. Cal. Case No. 14-54238 Chapter 11 Petition filed October 17, 2014In re Steven Al Weil Bankr. D. Conn. Case No. 14-51591 Chapter 11 Petition filed October 17, 2014In re Shirley Varghese Bankr. S.D. Fla. Case No. 14-33166 Chapter 11 Petition filed October 17, 2014In re James Anthony Deal and Margaret V. Deal Bankr. S.D. Ga. Case No. 14-50778 Chapter 11 Petition filed October 17, 2014In re Robert E Mayhew Bankr. E.D.N.C. Case No. 14-06053 Chapter 11 Petition filed October 17, 2014In re Norman Edward McMahon Bankr. E.D. Pa. Case No. 14-18302 Chapter 11 Petition filed October 17, 2014In re P. John Sopensky Bankr. M.D. Pa. Case No. 14-04823 Chapter 11 Petition filed October 17, 2014In re 201-221 North 67th Street, LLC Bankr. M.D. Pa. Case No. 14-04828 Chapter 11 Petition filed October 17, 2014 See http://bankrupt.com/misc/pamb14-04828.pdf represented by: Markian R Slobodian, Esq. LAW OFFICES OF MARKIAN R. SLOBODIAN E-mail: email@example.com re George Thomas Bikas Bankr. D. S.C. Case No. 14-05912 Chapter 11 Petition filed October 17, 2014In re Bill V. Bill V. Way, D.O., PA, DO aka Dermatology Institute Bankr. N.D. Tex. Case No. 14-35023 Chapter 11 Petition filed October 17, 2014 See http://bankrupt.com/misc/txnb14-35023.pdf represented by: Areya Holder, Esq. HOLDER LAW E-mail: firstname.lastname@example.com re BaseNet, LLC Bankr. C.D. Cal. Case No. 14-14742 Chapter 11 Petition filed October 18, 2014 See http://bankrupt.com/misc/cacb14-14742.pdf represented by: John D. Faucher, Esq. FAUCHER & ASSOCIATES E-mail: firstname.lastname@example.com re Urban Renaissance Management, LLC Bankr. D. Md. Case No. 14-26082 Chapter 11 Petition filed October 19, 2014 See http://bankrupt.com/misc/mdb14-26082.pdf represented by: James L. Wiggins, Esq. OFFICE OF JAMES L. WIGGINS E-mail: email@example.com re Samuel E. Wyly Bankr. N.D. Tex. Case No. 14-35043 Chapter 11 Petition filed October 19, 2014In re Fosters Water Treatment, LLC Bankr. N.D. Ala. Case No. 14-71829 Chapter 11 Petition filed October 20, 2014 See http://bankrupt.com/misc/alnb14-71829.pdf represented by: Harry P. Long, Esq. LAW OFFICES OF HARRY P. LONG, LLC E-mail: email@example.com re Sergio Antonucci Bankr. C.D. Cal. Case No. 14-16213 Chapter 11 Petition filed October 20, 2014In re Jihad Albasha and Bouchra A Abdallah Bankr. N.D. Cal. Case No. 14-44232 Chapter 11 Petition filed October 20, 2014In re 22 Saulsbury, LLC Bankr. D. Del. Case No. 14-12381 Chapter 11 Petition filed October 20, 2014 See http://bankrupt.com/misc/deb14-12381.pdf represented by: Ronald S. Gellert, Esq. GELLERT SCALI BUSENKELL & BROWN, LLC E-mail: firstname.lastname@example.com re My Honey Enterprise, Inc. Bankr. M.D. Fla. Case No. 14-05164 Chapter 11 Petition filed October 20, 2014 See http://bankrupt.com/misc/flmb14-05164.pdf represented by: Taylor J. King, Esq. LAW OFFICES OF MICKLER & MICKLER E-mail: email@example.com re Bay Fabricare Cleaners & Laundry, Inc. Bankr. M.D. Fla. Case No. 14-12273 Chapter 11 Petition filed October 20, 2014 See http://bankrupt.com/misc/flmb14-12273.pdf represented by: John E. Kassos, Esq. JOHN E KASSOS, PA E-mail: email@example.com re James E. Smallwood and Bobbi J. Smallwood Bankr. S.D. Ind. Case No. 14-92124 Chapter 11 Petition filed October 20, 2014In re Ciao Italian Kitchen, LLC fdba Ciao Italian Kitchen 2, LLC Bankr. D. Kans. Case No. 14-12393 Chapter 11 Petition filed October 20, 2014 See http://bankrupt.com/misc/ksb14-12393.pdf represented by: J. Michael Morris, Esq. KLENDA AUSTERMAN, LLC E-mail: firstname.lastname@example.com re Care Tec Specialty Nursing, LLC Bankr. W.D. La. Case No. 14-51308 Chapter 11 Petition filed October 20, 2014 See http://bankrupt.com/misc/lawb14-51308.pdf represented by: Thomas E. St. Germain, Esq. WEINSTEIN LAW FIRM E-mail: firstname.lastname@example.com re So. Maryland Transmissions, LLC Bankr. D. Md. Case No. 14-26159 Chapter 11 Petition filed October 20, 2014 See http://bankrupt.com/misc/mdb14-26159.pdf represented by: Shawn D. Bartley, Esq. SHAWN D. BARTLEY AND ASSOCIATES, LLC E-mail: email@example.com re Larry H. Moore and Nancy C. Moore Bankr. E.D. Mich. Case No. 14-56389 Chapter 11 Petition filed October 20, 2014In re Everardo Maca Bankr. D. Nev. Case No. 14-17017 Chapter 11 Petition filed October 20, 2014In re Specialty Vehicle Solutions, LLC Bankr. D.N.J. Case No. 14-31329 Chapter 11 Petition filed October 20, 2014 See http://bankrupt.com/misc/njb14-31329.pdf represented by: Laurence R. Sheller, Esq. E-mail: email@example.com re 40 Street Baking Inc. Bankr. S.D.N.Y. Case No. 14-12925 Chapter 11 Petition filed October 20, 2014 See http://bankrupt.com/misc/nysb14-12925.pdf represented by: Khagendra Gharti Chhetry, Esq. CHHETRY & ASSOCIATES, P.C. E-mail: firstname.lastname@example.com re Marcia Avery Bankr. S.D.N.Y. Case No. 14-37093 Chapter 11 Petition filed October 20, 2014In re Barbara R. Mitchell Bankr. E.D.N.C. Case No. 14-06101 Chapter 11 Petition filed October 20, 2014In re Douglas Leo Herdt Bankr. D. Wyo. Case No. 14-20775 Chapter 11 Petition filed October 20, 2014In re New Zealand Forest Products USA, LLC Bankr. W.D. Wash. Case No. 14-45616 Chapter 11 Petition filed October 20, 2014 See http://bankrupt.com/misc/wawb14-45616.pdf represented by: Michael P. Harris, Esq. E-mail: email@example.com re Robert L. Norvell Bankr. M.D. Fla. Case No. 14-05180 Chapter 11 Petition filed October 21, 2014In re Patric Neumann Bankr. M.D. Fla. Case No. 14-12343 Chapter 11 Petition filed October 21, 2014In re Thomas J. Risalvato, CPA, as Receiver for Elvin Cor Bankr. N.D. Fla. Case No. 14-31153 Chapter 11 Petition filed October 21, 2014In re Rory O'Keith Holley, Sr. Bankr. E.D. La. Case No. 14-12821 Chapter 11 Petition filed October 21, 2014In re Gregory B. Burkhardt Bankr. D. Md. Case No. 14-26190 Chapter 11 Petition filed October 21, 2014In re Kenneth J. Smondrowski Bankr. D. Md. Case No. 14-26217 Chapter 11 Petition filed October 21, 2014In re Harold P. Cook, III Bankr. D.N.J. Case No. 14-31388 Chapter 11 Petition filed October 21, 2014In re Adrian P. George Bankr. D.N.J. Case No. 14-31432 Chapter 11 Petition filed October 21, 2014In re SIF Foods, Inc. Bankr. E.D.N.Y. Case No. 14-45285 Chapter 11 Petition filed October 21, 2014 See http://bankrupt.com/misc/nyeb14-45285.pdf represented by: Michael L. Hurwitz, Esq. THE HURWITZ LAW FIRM, P.C. E-mail: firstname.lastname@example.com re Robert Litwin Bankr. S.D.N.Y. Case No. 14-12933 Chapter 11 Petition filed October 21, 2014In re Richard J. Baldwin and Barbara A. Baldwin Bankr. N.D. Ohio Case No. 14-33840 Chapter 11 Petition filed October 21, 2014In re Jay Sandford Bankr. E.D. Pa. Case No. 14-18364 Chapter 11 Petition filed October 21, 2014In re Walter Sandford Bankr. E.D. Pa. Case No. 14-18365 Chapter 11 Petition filed October 21, 2014In re Hamid A. Munoz Mendez Bankr. D.P.R. Case No. 14-08642 Chapter 11 Petition filed October 21, 2014In re Nogal Energy, L.L.C. Bankr. S.D. Tex. Case No. 14-50226 Chapter 11 Petition filed October 21, 2014 See http://bankrupt.com/misc/txsb14-50226.pdf represented by: Adolfo Campero, Jr., Esq. CAMPERO & ASSOCIATES, P.C. E-mail: email@example.com re Triple T Coil Tubing, L.L.C. Bankr. S.D. Tex. Case No. 14-50227 Chapter 11 Petition filed October 21, 2014 See http://bankrupt.com/misc/txsb14-50227.pdf represented by: Adolfo Campero, Jr., Esq. CAMPERO & ASSOCIATES, P.C. E-mail: firstname.lastname@example.com re Holy Convent Christian Ministry Inc Bankr. E.D. Wis. Case No. 14-32987 Chapter 11 Petition filed October 21, 2014 See http://bankrupt.com/misc/wieb14-32987.pdf Filed Pro Se *********Monday's edition of the TCR delivers a list of indicative pricesfor bond issues that reportedly trade well below par. Prices areobtained by TCR editors from a variety of outside sources duringthe prior week we think are reliable. Those sources may not,however, be complete or accurate. The Monday Bond Pricing tableis compiled on the Friday prior to publication. Prices reportedare not intended to reflect actual trades. Prices for actualtrades are probably different. Our objective is to shareinformation, not make markets in publicly traded securities.Nothing in the TCR constitutes an offer or solicitation to buy orsell any security of any kind. It is likely that some entityaffiliated with a TCR editor holds some position in the issuers'public debt and equity securities about which we report.Each Tuesday edition of the TCR contains a list of companies withinsolvent balance sheets whose shares trade higher than $3 pershare in public markets. At first glance, this list may look likethe definitive compilation of stocks that are ideal to sell short.Don't be fooled. Assets, for example, reported at historical costnet of depreciation may understate the true value of a firm'sassets. A company may establish reserves on its balance sheet forliabilities that may never materialize. The prices at whichequity securities trade in public market are determined by morethan a balance sheet solvency test.A list of Meetings, Conferences and Seminars appears in eachWednesday's edition of the TCR. Submissions about insolvency-related conferences are encouraged. Send announcements firstname.lastname@example.com by e-mail.On Thursdays, the TCR delivers a list of recently filedChapter 11 cases involving less than $1,000,000 in assets andliabilities delivered to the nation's bankruptcy courts. Thelist includes links to freely downloadable of these small-dollarpetitions in Acrobat PDF documents.Each Friday's edition of the TCR includes a review about a book ofinterest to troubled company professionals. All titles areavailable at your local bookstore or through Amazon.com. Go tohttp://www.bankrupt.com/books/to order any title today. Monthly Operating Reports are summarized in every Saturday editionof the TCR.The Sunday TCR delivers securitization rating news from the weekthen-ending. *********S U B S C R I P T I O N I N F O R M A T I O NTroubled Company Reporter is a daily newsletter co-publishedby Bankruptcy Creditors' Service, Inc., Fairless Hills,Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.Jhonas Dampog, Marites Claro, Joy Agravante, Rousel ElaineTumanda, Valerie Udtuhan, Howard C. Tolentino, Carmel Paderog,Meriam Fernandez, Joel Anthony G. Lopez, Cecil R. Villacampa,Sheryl Joy P. Olano, Psyche A. Castillon, Ivy B. Magdadaro, CarloFernandez, Christopher G. Patalinghug, and Peter A. Chapman,Editors.Copyright 2014. All rights reserved. ISSN: 1520-9474.This material is copyrighted and any commercial use, resale orpublication in any form (including e-mail forwarding, electronicre-mailing and photocopying) is strictly prohibited without priorwritten permission of the publishers. Information containedherein is obtained from sources believed to be reliable, but isnot guaranteed.The TCR subscription rate is $975 for 6 months delivered viae-mail. Additional e-mail subscriptions for members of the samefirm for the term of the initial subscription or balance thereofare $25 each. For subscription information, contact Peter A.Chapman at 215-945-7000 or Nina Novak at 202-362-8552. *** End of Transmission ***