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 1COLUMN 2COLUMN 3COLUMN 4COLUMN 5COLUMN 6COLUMN 7COLUMN 8
VALUESHRS ORSH/PUT/INVESTMENTOTHERVOTING AUTHORITY
NAME OF ISSUERTITLE OF CLASSCUSIP(x$1000)PRN AMTPRNCALLDISCRETIONMANAGERSOLESHAREDNONE
ALLY FINL INCCOM02005N10052,4242,265,530SH DFND 02,265,5300
AMBAC FINL GROUP INC*W EXP 04/30/2020231391165,764414,708PRN DFND 0414,7080
DINEEQUITY INCCOM25442310627,734339,923SH DFND 0339,9230
DRYSHIPS INC.NOTE 5.000%12/0262498AB444,97145,368,000PRN DFND 045,368,0000
DYNEGY INC NEW DELCOM26817R10859,8542,073,955SH DFND 02,073,9550
ENPRO INDS INCCOM29355X10716,217267,919SH DFND 0267,9190
GLOBALSTAR INCCOM37897340837,39610,217,395SH DFND 010,217,3950
HARBINGER GROUP INCCOM41146A10630,9722,360,648SH DFND 02,360,6480
MCCLATCHY COCL A5794891052,928871,499SH DFND 0871,4990