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
ALLY FINL INC COM 02005N100 52,424 2,410,530 SH   DFND   0 2,410,530 0
AMBAC FINL GROUP INC *W EXP 04/30/202 023139116 3,963 273,335 SH   DFND   0 273,335 0
DYNEGY INC NEW DEL COM 26817R108 28,729 946,592 SH   DFND   0 946,592 0
DYNEGY INC NEW DEL PFD CONV SER A 26817R207 30,309 300,000 SH   DFND   0 300,000 0
ENPRO INDS INC COM 29355X107 23,091 367,919 SH   DFND   0 367,919 0
GLOBALSTAR INC COM 378973408 29,481 10,720,395 SH   DFND   0 10,720,395 0
HARBINGER GROUP INC COM 41146A106 11,951 843,991 SH   DFND   0 843,991 0
HC2 HLDGS INC COM 404139107 7,028 833,701 SH   DFND   0 833,701 0
STAR BULK CARRIERS CORP SHS NEW Y8162K121 8,264 1,259,731 SH   DFND   0 1,259,731 0
ISHARES TR RUSSELL 2000 ETF 464287655 107,658 900,000 SH Put DFND   0 900,000 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 205,540 1,000,000 SH Put DFND   0 1,000,000 0