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	<infoTable>
		<nameOfIssuer>ALEXANDERS REIT (NYS)</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>014752109</cusip>
		<value>1987</value>
		<shrsOrPrnAmt>
			<sshPrnamt>5222</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>5222</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>CHK 2017-01-20 3.0000 P A OPQ</nameOfIssuer>
		<titleOfClass>CALL</titleOfClass>
		<cusip>165167907</cusip>
		<value>414</value>
		<shrsOrPrnAmt>
			<sshPrnamt>4000</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<putCall>Call</putCall>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>4000</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>ALLIANCE ONE INTERNATIONAL ORD (NYS)</nameOfIssuer>
		<titleOfClass>COM NEW</titleOfClass>
		<cusip>018772301</cusip>
		<value>18122</value>
		<shrsOrPrnAmt>
			<sshPrnamt>1031993</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>1031993</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>REPUBLIC AIRWAYS HOLDINGS ORD (PNK)</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>760276105</cusip>
		<value>19724</value>
		<shrsOrPrnAmt>
			<sshPrnamt>10115000</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>10115000</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>SPY 2016-06-17 179.000 P A OPQ</nameOfIssuer>
		<titleOfClass>CALL</titleOfClass>
		<cusip>78462F903</cusip>
		<value>2744</value>
		<shrsOrPrnAmt>
			<sshPrnamt>31000</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<putCall>Call</putCall>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>31000</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>ALEXANDERS REIT (NYS)</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>014752109</cusip>
		<value>1987</value>
		<shrsOrPrnAmt>
			<sshPrnamt>5222</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>5222</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>CHK 2017-01-20 3.0000 P A OPQ</nameOfIssuer>
		<titleOfClass>CALL</titleOfClass>
		<cusip>165167907</cusip>
		<value>414</value>
		<shrsOrPrnAmt>
			<sshPrnamt>4000</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<putCall>Call</putCall>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>4000</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>VNO 2016-06-17 80.000 P A OPQ</nameOfIssuer>
		<titleOfClass>CALL</titleOfClass>
		<cusip>929042909</cusip>
		<value>26</value>
		<shrsOrPrnAmt>
			<sshPrnamt>500</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<putCall>Call</putCall>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>500</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>ALLIANCE ONE INTERNATIONAL ORD (NYS)</nameOfIssuer>
		<titleOfClass>COM NEW</titleOfClass>
		<cusip>018772301</cusip>
		<value>18122</value>
		<shrsOrPrnAmt>
			<sshPrnamt>1031993</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>1031993</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>REPUBLIC AIRWAYS HOLDINGS ORD (PNK)</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>760276105</cusip>
		<value>19724</value>
		<shrsOrPrnAmt>
			<sshPrnamt>10115000</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>10115000</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>SPY 2016-06-17 179.000 P A OPQ</nameOfIssuer>
		<titleOfClass>CALL</titleOfClass>
		<cusip>78462F903</cusip>
		<value>2744</value>
		<shrsOrPrnAmt>
			<sshPrnamt>31000</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<putCall>Call</putCall>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>31000</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
</informationTable>
