The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

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COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ASSURED GUARANTY LTD COM G0585R106 69,454 2,745,204 SH   DFND 1,2,3,4 2,745,204 0 0
BASIC ENERGY SVCS INC NEW COM 06985P100 11,476 4,157,993 SH   DFND 1,2,3,4 4,157,993 0 0
CHEMOURS CO COM 163851108 11,932 1,704,605 SH   DFND 1,2,3,4 1,704,605 0 0
COWEN GROUP INC NEW CL A 223622101 37,738 9,904,963 SH   DFND 1,2,3,4 9,904,963 0 0
DHX MEDIA LTD SHS VAR VTG 252406608 27,509 4,915,000 SH   DFND 1,2,3,4 4,915,000 0 0
EVERTEC INC COM 30040P103 98,229 7,026,385 SH   DFND 1,2,3,4 7,026,385 0 0
HEMISPHERE MEDIA GROUP INC CL A 42365Q103 20,508 1,561,955 SH   DFND 1,2,3,4 1,561,955 0 0
HORNBECK OFFSHORE SVCS INC N COM 440543106 33,971 3,421,036 SH   DFND 1,2,3,4 3,421,036 0 0
LIBBEY INC COM 529898108 16,212 871,590 SH   DFND 1,2,3,4 871,590 0 0
MBIA INC COM 55262C100 41,763 4,718,945 SH   DFND 1,2,3,4 4,718,945 0 0
MOTORCAR PTS AMER INC COM 620071100 53,287 1,403,026 SH   DFND 1,2,3,4 1,403,026 0 0
NORTHERN OIL & GAS INC NEV COM 665531109 22,292 5,586,916 SH   DFND 1,2,3,4 5,586,916 0 0
OUTERWALL INC COM 690070107 50,941 1,377,165 SH   DFND 1,2,3,4 1,377,165 0 0
POLYONE CORP COM 73179P106 8,830 291,909 SH   DFND 1,2,3,4 291,909 0 0
SCIENTIFIC GAMES CORP CL A 80874P109 80,020 8,485,731 SH   DFND 1,2,3,4 8,485,731 0 0
SEARS HLDGS CORP *W EXP 12/15/201 812350155 4,386 987,895 SH   DFND 1,2,3,4 987,895 0 0
SEARS HLDGS CORP COM 812350106 35,022 2,287,529 SH   DFND 1,2,3,4 2,287,529 0 0
SHUTTERFLY INC COM 82568P304 65,925 1,421,727 SH   DFND 1,2,3,4 1,421,727 0 0
SYNERGY RES CORP COM 87164P103 29,152 3,751,852 SH   DFND 1,2,3,4 3,751,852 0 0
TRONOX LTD SHS CL A Q9235V101 36,652 5,735,806 SH   DFND 1,2,3,4 5,735,806 0 0
WHITING PETE CORP NEW COM 966387102 77,301 9,686,795 SH   DFND 1,2,3,4 9,686,795 0 0