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

OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8

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
ARCH COAL INC - A CL A 039380407 9,725 124,595 SH   DFND 1,2,3 124,595 0 0
DELTA AIR LINES INC COM NEW 247361702 26,956 548,000 SH   DFND 1,2,3 548,000 0 0
DELTA AIR LINES INC COM NEW 247361702 15,495 315,000 SH Put DFND 1,2,3 315,000 0 0
DISH NETWORK CORP-A CL A 25470M109 5,793 100,000 SH   DFND 1,2,3 100,000 0 0
ENOVA INTERNATIONAL INC COM 29357K103 3,451 275,000 SH   DFND 1,2,3 275,000 0 0
ISHARES TR IBOXX HI YD ETF 464288513 25,749 297,500 SH Call DFND 1,2,3 297,500 0 0
MERCER INTERNATIONAL INC COM 588056101 28,679 2,692,885 SH   DFND 1,2,3 2,692,885 0 0
SPDR S&P 500 ETF TR COM 78462F103 419,812 1,878,100 SH Put DFND 1,2,3 1,878,100 0 0
TERRAFORM GLOBAL INC - CL A CL A 88104M101 28,756 7,280,000 SH   DFND 1,2,3 7,280,000 0 0
YPF SOCIEDAD ANONIMA SPON ADR CL D 984245100 41,207 2,497,424 SH   DFND 1,2,3 2,497,424 0 0