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
CALPINE CORP COM 131347304 26,544 2,100,000 SH   DFND 1,2,3 2,100,000 0 0
DELTA AIR LINES INC COM NEW 247361702 21,569 548,000 SH   DFND 1,2,3 548,000 0 0
DISH NETWORK CORP-A CL A 25470M109 5,478 100,000 SH   DFND 1,2,3 100,000 0 0
DYNEGY INC COM 26817R108 2,478 200,000 SH   DFND 1,2,3 200,000 0 0
GENER8 MARITIME INC COM Y26889108 13,658 2,667,610 SH   DFND 1,2,3 2,667,610 0 0
GENERAL MOTORS CO COM 37045V100 14,583 459,005 SH   DFND 1,2,3 459,005 0 0
MERCER INTERNATIONAL INC COM 588056101 22,809 2,692,885 SH   DFND 1,2,3 2,692,885 0 0
SPDR S&P 500 ETF TR COM 78462F103 532,833 2,463,400 SH Put DFND 1,2,3 2,463,400 0 0
TERRAFORM GLOBAL INC - CL A CL A 88104M101 9,124 2,220,000 SH   DFND 1,2,3 2,220,000 0 0
YPF SOCIEDAD ANONIMA SPON ADR CL D 984245100 47,698 2,617,909 SH   DFND 1,2,3 2,617,909 0 0