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 103,121 5,059,919 SH   SOLE 5,059,919 0 0
AMERICAN AIRLS GROUP INC COM 02376R102 64,672 1,665,506 SH   SOLE 1,665,506 0 0
CALIFORNIA RES CORP COM 13057Q107 31,752 12,212,147 SH   SOLE 12,212,147 0 0
CHC GROUP LTD SHS G07021101 54 90,181 SH   SOLE 90,181 0 0
CM FIN INC COM 12574Q103 39,098 3,818,186 SH   SOLE 3,818,186 0 0
COBALT INTL ENERGY INC NOTE 3.125% 5/1 19075FAB2 73,742 117,050,000 PRN   SOLE 117,050,000 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 163,180 3,636,731 SH   SOLE 3,636,731 0 0
EXCO RESOURCES INC COM 269279402 6,404 8,539,027 SH   SOLE 8,539,027 0 0
INTELSAT S A COM L5140P101 10,035 1,560,633 SH   SOLE 1,560,633 0 0
IRSA INVERSIONES Y REP S A GLOBL DEP RCPT 450047204 2,326 160,000 SH   SOLE 160,000 0 0
MARKET VECTORS ETF TR GOLD MINER ETF 57060U100 687 50,000 SH   SOLE 50,000 0 0
SCORPIO BULKERS INC SHS Y7546A106 17,520 12,000,000 SH   SOLE 12,000,000 0 0
SPECTRUM BRANDS HLDGS INC COM 84763R101 52,345 572,013 SH   SOLE 572,013 0 0
SPHERE 3D CORP NEW COM 84841L100 12,865 6,097,087 SH   SOLE 6,097,087 0 0
VIRGIN AMER INC COM VTG 92765X208 359,730 10,509,208 SH   SOLE 10,509,208 0 0