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  <infoTable>
    <nameOfIssuer>AAR CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>000361105</cusip>
    <value>2106</value>
    <shrsOrPrnAmt>
      <sshPrnamt>92500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>92500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ALASKA AIR GROUP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>011659109</cusip>
    <value>12684</value>
    <shrsOrPrnAmt>
      <sshPrnamt>240000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>240000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ALCATEL-LUCENT</nameOfIssuer>
    <titleOfClass>SPONSORED ADR</titleOfClass>
    <cusip>013904305</cusip>
    <value>6778</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3000000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>3000000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ALLIANCE HEALTHCARE SRVCS IN</nameOfIssuer>
    <titleOfClass>COM PAR $0.01</titleOfClass>
    <cusip>018606301</cusip>
    <value>11951</value>
    <shrsOrPrnAmt>
      <sshPrnamt>764143</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>764143</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ARCH COAL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>039380100</cusip>
    <value>7137</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1950000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1950000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BEAZER HOMES USA INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>07556Q881</cusip>
    <value>8760</value>
    <shrsOrPrnAmt>
      <sshPrnamt>500000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>500000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BOEING CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>097023105</cusip>
    <value>43361</value>
    <shrsOrPrnAmt>
      <sshPrnamt>420000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>420000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BOYD GAMING CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>103304101</cusip>
    <value>5650</value>
    <shrsOrPrnAmt>
      <sshPrnamt>500000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>500000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BOYD GAMING CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>103304101</cusip>
    <value>20038</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1750000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1750000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CACI INTL INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>127190304</cusip>
    <value>8994</value>
    <shrsOrPrnAmt>
      <sshPrnamt>140000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>140000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CARROLS RESTAURANT GROUP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>14574X104</cusip>
    <value>10985</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1700502</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1700502</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>CEMEX SAB DE CV</nameOfIssuer>
    <titleOfClass>SPON ADR NEW</titleOfClass>
    <cusip>151290889</cusip>
    <value>19806</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1872000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1872000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CENTRAL EUROPEAN MEDIA ENTRP</nameOfIssuer>
    <titleOfClass>CL A NEW</titleOfClass>
    <cusip>G20045202</cusip>
    <value>4150</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1250000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1250000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CF INDS HLDGS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>125269100</cusip>
    <value>102168</value>
    <shrsOrPrnAmt>
      <sshPrnamt>600000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>600000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CHENIERE ENERGY INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>16411R208</cusip>
    <value>805</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>29000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CHENIERE ENERGY INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>16411R208</cusip>
    <value>23318</value>
    <shrsOrPrnAmt>
      <sshPrnamt>840000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>840000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>COMMONWEALTH REIT</nameOfIssuer>
    <titleOfClass>COM SH BEN INT</titleOfClass>
    <cusip>203233101</cusip>
    <value>16184</value>
    <shrsOrPrnAmt>
      <sshPrnamt>700000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>700000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>COMMUNITY HEALTH SYS INC NEW</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>203668108</cusip>
    <value>1406</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>30000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>COMMUNITY HEALTH SYS INC NEW</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>203668108</cusip>
    <value>11908</value>
    <shrsOrPrnAmt>
      <sshPrnamt>254000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>254000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CROSSTEX ENERGY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>22765Y104</cusip>
    <value>652</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>33000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CROSSTEX ENERGY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>22765Y104</cusip>
    <value>14695</value>
    <shrsOrPrnAmt>
      <sshPrnamt>743651</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>743651</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DRESSER-RAND GROUP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>261608103</cusip>
    <value>12422</value>
    <shrsOrPrnAmt>
      <sshPrnamt>200000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>200000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DRYSHIPS INC</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>Y2109Q101</cusip>
    <value>348</value>
    <shrsOrPrnAmt>
      <sshPrnamt>186000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>186000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DRYSHIPS INC</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>Y2109Q101</cusip>
    <value>1870</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1000000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1000000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DRYSHIPS INC.</nameOfIssuer>
    <titleOfClass>NOTE 5.000%12/0</titleOfClass>
    <cusip>262498AB4</cusip>
    <value>27877</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31411000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>31411000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DRYSHIPS INC.</nameOfIssuer>
    <titleOfClass>NOTE 5.000%12/0</titleOfClass>
    <cusip>262498AB4</cusip>
    <value>56624</value>
    <shrsOrPrnAmt>
      <sshPrnamt>63802000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>63802000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DYNEGY INC NEW DEL</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>26817R108</cusip>
    <value>6550</value>
    <shrsOrPrnAmt>
      <sshPrnamt>290476</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>290476</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>DYNEGY INC NEW DEL</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>26817R108</cusip>
    <value>41453</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1838250</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1838250</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ENERGY XXI (BERMUDA) LTD</nameOfIssuer>
    <titleOfClass>USD UNRS SHS</titleOfClass>
    <cusip>G10082140</cusip>
    <value>13172</value>
    <shrsOrPrnAmt>
      <sshPrnamt>594000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>594000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ENERGY XXI (BERMUDA) LTD</nameOfIssuer>
    <titleOfClass>USD UNRS SHS</titleOfClass>
    <cusip>G10082140</cusip>
    <value>6780</value>
    <shrsOrPrnAmt>
      <sshPrnamt>300000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>300000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ENI S P A</nameOfIssuer>
    <titleOfClass>SPONSORED ADR</titleOfClass>
    <cusip>26874R108</cusip>
    <value>8792</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6600000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>6600000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ENI S P A</nameOfIssuer>
    <titleOfClass>SPONSORED ADR</titleOfClass>
    <cusip>26874R108</cusip>
    <value>49820</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37400000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>37400000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FELCOR LODGING TR INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>31430F101</cusip>
    <value>1478</value>
    <shrsOrPrnAmt>
      <sshPrnamt>250000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>250000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FELCOR LODGING TR INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>31430F101</cusip>
    <value>11820</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2000000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>2000000</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FERRO CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>315405100</cusip>
    <value>1022</value>
    <shrsOrPrnAmt>
      <sshPrnamt>147000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>147000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FERRO CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>315405100</cusip>
    <value>31155</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4482769</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>4482769</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIFTH &amp; PAC COS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>316645100</cusip>
    <value>19005</value>
    <shrsOrPrnAmt>
      <sshPrnamt>850700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>850700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FINISAR CORP</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>31787A507</cusip>
    <value>10170</value>
    <shrsOrPrnAmt>
      <sshPrnamt>600000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>600000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FOREST OIL CORP</nameOfIssuer>
    <titleOfClass>COM PAR $0.01</titleOfClass>
    <cusip>346091705</cusip>
    <value>2597</value>
    <shrsOrPrnAmt>
      <sshPrnamt>635000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>635000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FOREST OIL CORP</nameOfIssuer>
    <titleOfClass>COM PAR $0.01</titleOfClass>
    <cusip>346091705</cusip>
    <value>25767</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6300000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6300000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GENERAL MTRS CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>37045V100</cusip>
    <value>16655</value>
    <shrsOrPrnAmt>
      <sshPrnamt>500000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>500000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GOODYEAR TIRE &amp; RUBR CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>382550101</cusip>
    <value>7745</value>
    <shrsOrPrnAmt>
      <sshPrnamt>500000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>500000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>HEALTH MGMT ASSOC INC NEW</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>421933102</cusip>
    <value>1729</value>
    <shrsOrPrnAmt>
      <sshPrnamt>110000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>110000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>HEALTH MGMT ASSOC INC NEW</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>421933102</cusip>
    <value>21694</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1380000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1380000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>HESS CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>42809H107</cusip>
    <value>2793</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>42000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>HESS CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>42809H107</cusip>
    <value>43551</value>
    <shrsOrPrnAmt>
      <sshPrnamt>655000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>655000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>HOVNANIAN ENTERPRISES INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>442487203</cusip>
    <value>2752</value>
    <shrsOrPrnAmt>
      <sshPrnamt>490600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>490600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>RUSSELL 2000</titleOfClass>
    <cusip>464287655</cusip>
    <value>5520</value>
    <shrsOrPrnAmt>
      <sshPrnamt>56000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>56000</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>RUSSELL 2000</titleOfClass>
    <cusip>464287655</cusip>
    <value>147870</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1500000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1500000</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>RUSSELL 2000</titleOfClass>
    <cusip>464287655</cusip>
    <value>246450</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2500000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>2500000</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>LEAP WIRELESS INTL INC</nameOfIssuer>
    <titleOfClass>NOTE 4.500% 7/1</titleOfClass>
    <cusip>521863AL4</cusip>
    <value>19418</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19370000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>19370000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>LIBERTY MEDIA CORP</nameOfIssuer>
    <titleOfClass>DEB 4.000%11/1</titleOfClass>
    <cusip>530715AG6</cusip>
    <value>40240</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58960000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>58960000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>LIBERTY MEDIA CORP</nameOfIssuer>
    <titleOfClass>DEB 4.000%11/1</titleOfClass>
    <cusip>530715AG6</cusip>
    <value>25730</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37700000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>37700000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MASCO CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>574599106</cusip>
    <value>15007</value>
    <shrsOrPrnAmt>
      <sshPrnamt>770000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>770000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>METHANEX CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>59151K108</cusip>
    <value>25701</value>
    <shrsOrPrnAmt>
      <sshPrnamt>600000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>600000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MTR GAMING GROUP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>553769100</cusip>
    <value>168</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>50000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MTR GAMING GROUP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>553769100</cusip>
    <value>8945</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2670022</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>2670022</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>NRG ENERGY INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>629377508</cusip>
    <value>2576</value>
    <shrsOrPrnAmt>
      <sshPrnamt>96479</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>96479</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NRG ENERGY INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>629377508</cusip>
    <value>43001</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1610521</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1610521</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>OCEAN RIG UDW INC</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>Y64354205</cusip>
    <value>5780</value>
    <shrsOrPrnAmt>
      <sshPrnamt>308590</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>308590</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>OCEAN RIG UDW INC</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>Y64354205</cusip>
    <value>19131</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1021410</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1021410</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>PEABODY ENERGY CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>704549104</cusip>
    <value>512</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>35000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>RITE AID CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>767754104</cusip>
    <value>26645</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9316600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>9316600</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>SAIC INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>78390X101</cusip>
    <value>8340</value>
    <shrsOrPrnAmt>
      <sshPrnamt>600000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>600000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>SANDRIDGE ENERGY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>80007P307</cusip>
    <value>14280</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3000000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>3000000</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>SPDR S&amp;P 500 ETF TR</nameOfIssuer>
    <titleOfClass>TR UNIT</titleOfClass>
    <cusip>78462F103</cusip>
    <value>24204</value>
    <shrsOrPrnAmt>
      <sshPrnamt>150000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>150000</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>SPDR S&amp;P 500 ETF TR</nameOfIssuer>
    <titleOfClass>TR UNIT</titleOfClass>
    <cusip>78462F103</cusip>
    <value>37920</value>
    <shrsOrPrnAmt>
      <sshPrnamt>235000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>235000</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPDR S&amp;P 500 ETF TR</nameOfIssuer>
    <titleOfClass>TR UNIT</titleOfClass>
    <cusip>78462F103</cusip>
    <value>1171474</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7260000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>7260000</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SUPERIOR ENERGY SVCS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>868157108</cusip>
    <value>472</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18202</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>18202</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>SUPERIOR ENERGY SVCS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>868157108</cusip>
    <value>476</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>18200</Sole>
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      <None>0</None>
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  </infoTable>
  <infoTable>
    <nameOfIssuer>SUPERIOR ENERGY SVCS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>868157108</cusip>
    <value>17297</value>
    <shrsOrPrnAmt>
      <sshPrnamt>666798</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>666798</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>SUPERIOR ENERGY SVCS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>868157108</cusip>
    <value>17423</value>
    <shrsOrPrnAmt>
      <sshPrnamt>666800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>666800</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SUPERVALU INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>868536103</cusip>
    <value>2755</value>
    <shrsOrPrnAmt>
      <sshPrnamt>442900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>442900</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>SUPERVALU INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>868536103</cusip>
    <value>34217</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5501100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>5501100</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>TWO HBRS INVT CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>90187B101</cusip>
    <value>23831</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2325000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>2325000</Sole>
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      <None>0</None>
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    <titleOfClass>COM</titleOfClass>
    <cusip>90341W108</cusip>
    <value>36960</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2200000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>2200000</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>U S G CORP</nameOfIssuer>
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    <value>13139</value>
    <shrsOrPrnAmt>
      <sshPrnamt>570000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>570000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>UNIVERSAL HLTH SVCS INC</nameOfIssuer>
    <titleOfClass>CL B</titleOfClass>
    <cusip>913903100</cusip>
    <value>1339</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>20000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>UNIVERSAL HLTH SVCS INC</nameOfIssuer>
    <titleOfClass>CL B</titleOfClass>
    <cusip>913903100</cusip>
    <value>15401</value>
    <shrsOrPrnAmt>
      <sshPrnamt>230000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>230000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>WALTER ENERGY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>93317Q105</cusip>
    <value>796</value>
    <shrsOrPrnAmt>
      <sshPrnamt>76500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>76500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>WALTER ENERGY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>93317Q105</cusip>
    <value>16952</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1630000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1630000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>WALTER INVT MGMT CORP</nameOfIssuer>
    <titleOfClass>NOTE 4.500%11/0</titleOfClass>
    <cusip>93317WAA0</cusip>
    <value>24426</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24095000</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>24095000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>WALTER INVT MGMT CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>93317W102</cusip>
    <value>9298</value>
    <shrsOrPrnAmt>
      <sshPrnamt>275000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>275000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>YRC WORLDWIDE INC</nameOfIssuer>
    <titleOfClass>NOTE 10.000% 3/3</titleOfClass>
    <cusip>984249AB8</cusip>
    <value>1155</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1157930</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1157930</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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</informationTable>
